# EDGAR Filing Document

**Accession Number:** 0001378872
**File Stem:** 0001378872-26-000292
**Filing Date:** 2026-1
**Character Count:** 155652
**Document Hash:** 810c174c8be597557d3ed3a4bc91402c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001378872-26-000292.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0001378872-26-000292

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260128

**PERIOD START**: 20260831

**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:** 26571935

**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 Nasdaq Biotechnology ETF (Series ID: S000072469)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000228754 | Invesco Nasdaq Biotechnology ETF | IBBQ            |

## Nport-Ex

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

**Invesco Nasdaq Biotechnology ETF (IBBQ)**

November 30, 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%** |
| **Biotechnology-80.58%** | **Biotechnology-80.58%** | **Biotechnology-80.58%** |
| 4D Molecular Therapeutics, Inc.<sup>(b)(c)</sup> | 2237 | &nbsp;&nbsp; $26083 |
| Absci Corp.<sup>(b)(c)</sup> | 7156 | &nbsp;&nbsp; 22685 |
| AC Immune S.A. (Switzerland)<sup>(b)(c)</sup> | 4854 | &nbsp;&nbsp; 14513 |
| Acadia Pharmaceuticals, Inc.<sup>(b)</sup> | 7937 | &nbsp;&nbsp; 198742 |
| Acrivon Therapeutics, Inc.<sup>(b)</sup> | 1501 | &nbsp;&nbsp; 3542 |
| ADMA Biologics, Inc.<sup>(b)</sup> | 11216 | &nbsp;&nbsp; 215123 |
| Agios Pharmaceuticals, Inc.<sup>(b)</sup> | 2681 | &nbsp;&nbsp; 78285 |
| Akero Therapeutics, Inc.<sup>(b)</sup> | 3740 | &nbsp;&nbsp; 203306 |
| Alector, Inc.<sup>(b)</sup> | 4782 | &nbsp;&nbsp; 6360 |
| Alkermes PLC<sup>(b)</sup> | 7743 | &nbsp;&nbsp; 229038 |
| Allogene Therapeutics, Inc.<sup>(b)(c)</sup> | 10591 | &nbsp;&nbsp; 15463 |
| Alnylam Pharmaceuticals, Inc.<sup>(b)</sup> | 6090 | &nbsp;&nbsp; 2747991 |
| Altimmune, Inc.<sup>(b)</sup> | 3909 | &nbsp;&nbsp; 20561 |
| Alvotech S.A. (Luxembourg)<sup>(b)(c)</sup> | 14493 | &nbsp;&nbsp; 73914 |
| Amarin Corp. PLC, ADR (Ireland)<sup>(b)</sup> | 974 | &nbsp;&nbsp; 15555 |
| Amgen, Inc. | 13460 | &nbsp;&nbsp; 4649892 |
| Amicus Therapeutics, Inc.<sup>(b)</sup> | 14276 | &nbsp;&nbsp; 141761 |
| AnaptysBio, Inc.<sup>(b)(c)</sup> | 1309 | &nbsp;&nbsp; 54520 |
| Anavex Life Sciences Corp.<sup>(b)(c)</sup> | 4115 | &nbsp;&nbsp; 15760 |
| Annexon, Inc.<sup>(b)(c)</sup> | 5297 | &nbsp;&nbsp; 23837 |
| Apellis Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 5927 | &nbsp;&nbsp; 126245 |
| Apogee Therapeutics, Inc.<sup>(b)(c)</sup> | 2128 | &nbsp;&nbsp; 153152 |
| Applied Therapeutics, Inc.<sup>(b)</sup> | 6819 | &nbsp;&nbsp; 1773 |
| Arbutus Biopharma Corp.<sup>(b)</sup> | 8617 | &nbsp;&nbsp; 38001 |
| Arcellx, Inc.<sup>(b)(c)</sup> | 2613 | &nbsp;&nbsp; 189991 |
| Arcturus Therapeutics Holdings, Inc.<sup>(b)(c)</sup> | 1297 | &nbsp;&nbsp; 8807 |
| Arcutis Biotherapeutics, Inc.<sup>(b)(c)</sup> | 5542 | &nbsp;&nbsp; 169862 |
| Ardelyx, Inc.<sup>(b)</sup> | 11032 | &nbsp;&nbsp; 63986 |
| argenx SE, ADR (Netherlands)<sup>(b)</sup> | 1432 | &nbsp;&nbsp; 1305955 |
| ArriVent Biopharma, Inc.<sup>(b)(c)</sup> | 1868 | &nbsp;&nbsp; 42852 |
| Arrowhead Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 6483 | &nbsp;&nbsp; 341654 |
| ARS Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 4486 | &nbsp;&nbsp; 42796 |
| Artiva Biotherapeutics, Inc. (South Korea)<sup>(b)(c)</sup> | 1183 | &nbsp;&nbsp; 4448 |
| Ascendis Pharma A/S, ADR (Denmark)<sup>(b)</sup> | 2846 | &nbsp;&nbsp; 604291 |
| Astria Therapeutics, Inc.<sup>(b)(c)</sup> | 2714 | &nbsp;&nbsp; 34332 |
| Aura Biosciences, Inc.<sup>(b)</sup> | 3003 | &nbsp;&nbsp; 19820 |
| Aurinia Pharmaceuticals, Inc. (Canada)<sup>(b)</sup> | 6102 | &nbsp;&nbsp; 98364 |
| &nbsp;&nbsp;&nbsp; Autolus Therapeutics PLC, ADR (United <br> Kingdom)<sup>(b)(c)</sup><br>| 9666 | &nbsp;&nbsp; 13629 |
| Avidity Biosciences, Inc.<sup>(b)</sup> | 5991 | &nbsp;&nbsp; 429555 |
| Beam Therapeutics, Inc.<sup>(b)(c)</sup> | 4687 | &nbsp;&nbsp; 118722 |
| BeOne Medicines Ltd., ADR (China)<sup>(b)(c)</sup> | 1584 | &nbsp;&nbsp; 539526 |
| &nbsp;&nbsp;&nbsp; Bicycle Therapeutics PLC, ADR (United <br> Kingdom)<sup>(b)</sup><br>| 2117 | &nbsp;&nbsp; 15835 |
| BioCryst Pharmaceuticals, Inc.<sup>(b)</sup> | 9605 | &nbsp;&nbsp; 68964 |
| Biogen, Inc.<sup>(b)</sup> | 6838 | &nbsp;&nbsp; 1245131 |
| BioMarin Pharmaceutical, Inc.<sup>(b)</sup> | 8979 | &nbsp;&nbsp; 502195 |
| Biomea Fusion, Inc.<sup>(b)(c)</sup> | 1817 | &nbsp;&nbsp; 1981 |
| BioNTech SE, ADR (Germany)<sup>(b)</sup> | 4695 | &nbsp;&nbsp; 484289 |
| BridgeBio Pharma, Inc.<sup>(b)(c)</sup> | 8951 | &nbsp;&nbsp; 644562 |
| C4 Therapeutics, Inc.<sup>(b)</sup> | 3434 | &nbsp;&nbsp; 9306 |
| Cartesian Therapeutics, Inc.<sup>(b)(c)</sup> | 1249 | &nbsp;&nbsp; 9355 |
| &nbsp;&nbsp;&nbsp; Cartesian Therapeutics, Inc., Rts., expiring <br> 12/31/2049<sup>(b)(d)</sup><br>| 2633 | &nbsp;&nbsp; 359 |
| Centessa Pharmaceuticals PLC, ADR<sup>(b)(c)</sup> | 4454 | &nbsp;&nbsp; 129300 |
| CG Oncology, Inc.<sup>(b)(c)</sup> | 3542 | &nbsp;&nbsp; 158823 |
| Climb Bio, Inc.<sup>(b)</sup> | 3262 | &nbsp;&nbsp; 6165 |
| Cogent Biosciences, Inc.<sup>(b)</sup> | 6484 | &nbsp;&nbsp; 260786 |
| &nbsp;&nbsp;&nbsp; Compass Pathways PLC, ADR (United <br> Kingdom)<sup>(b)(c)</sup><br>| 4376 | &nbsp;&nbsp; 24287 |
| Corvus Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 3279 | &nbsp;&nbsp; 30068 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Biotechnology-(continued)** | **Biotechnology-(continued)** | **Biotechnology-(continued)** |
| Crinetics Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 4431 | &nbsp;&nbsp; $201876 |
| CRISPR Therapeutics AG (Switzerland)<sup>(b)(c)</sup> | 4260 | &nbsp;&nbsp; 227782 |
| Cullinan Therapeutics, Inc.<sup>(b)(c)</sup> | 2850 | &nbsp;&nbsp; 32405 |
| CureVac N.V. (Germany)<sup>(b)</sup> | 10246 | &nbsp;&nbsp; 56251 |
| Cytokinetics, Inc.<sup>(b)(c)</sup> | 5583 | &nbsp;&nbsp; 380370 |
| Day One Biopharmaceuticals, Inc.<sup>(b)(c)</sup> | 4893 | &nbsp;&nbsp; 46435 |
| Denali Therapeutics, Inc.<sup>(b)(c)</sup> | 6897 | &nbsp;&nbsp; 134285 |
| Design Therapeutics, Inc.<sup>(b)(c)</sup> | 2727 | &nbsp;&nbsp; 25607 |
| Disc Medicine, Inc.<sup>(b)(c)</sup> | 1615 | &nbsp;&nbsp; 150776 |
| Dynavax Technologies Corp.<sup>(b)(c)</sup> | 5400 | &nbsp;&nbsp; 61398 |
| Dyne Therapeutics, Inc.<sup>(b)(c)</sup> | 6696 | &nbsp;&nbsp; 146642 |
| Editas Medicine, Inc.<sup>(b)(c)</sup> | 4047 | &nbsp;&nbsp; 9753 |
| Enanta Pharmaceuticals, Inc.<sup>(b)</sup> | 1030 | &nbsp;&nbsp; 14544 |
| Entrada Therapeutics, Inc.<sup>(b)</sup> | 1833 | &nbsp;&nbsp; 18825 |
| Erasca, Inc.<sup>(b)</sup> | 13674 | &nbsp;&nbsp; 43347 |
| Exelixis, Inc.<sup>(b)</sup> | 12563 | &nbsp;&nbsp; 554908 |
| Fate Therapeutics, Inc.<sup>(b)</sup> | 5530 | &nbsp;&nbsp; 6304 |
| Foghorn Therapeutics, Inc.<sup>(b)(c)</sup> | 2685 | &nbsp;&nbsp; 12754 |
| Galapagos N.V., ADR (Belgium)<sup>(b)</sup> | 632 | &nbsp;&nbsp; 19794 |
| Genmab A/S, ADR (Denmark)<sup>(b)(c)</sup> | 1997 | &nbsp;&nbsp; 64623 |
| Geron Corp.<sup>(b)</sup> | 28724 | &nbsp;&nbsp; 33894 |
| Gilead Sciences, Inc. | 34237 | &nbsp;&nbsp; 4308384 |
| GRAIL, Inc.<sup>(b)(c)</sup> | 1682 | &nbsp;&nbsp; 185676 |
| Grifols S.A., ADR (Spain) | 5540 | &nbsp;&nbsp; 49029 |
| Halozyme Therapeutics, Inc.<sup>(b)</sup> | 5480 | &nbsp;&nbsp; 391272 |
| Humacyte, Inc.<sup>(b)(c)</sup> | 7522 | &nbsp;&nbsp; 10155 |
| Ideaya Biosciences, Inc.<sup>(b)(c)</sup> | 4064 | &nbsp;&nbsp; 144760 |
| ImmunityBio, Inc.<sup>(b)(c)</sup> | 44091 | &nbsp;&nbsp; 104055 |
| &nbsp;&nbsp;&nbsp; Immunocore Holdings PLC, ADR (United <br> Kingdom)<sup>(b)(c)</sup><br>| 1831 | &nbsp;&nbsp; 72325 |
| Immunovant, Inc.<sup>(b)(c)</sup> | 8178 | &nbsp;&nbsp; 197499 |
| Incyte Corp.<sup>(b)</sup> | 9148 | &nbsp;&nbsp; 955600 |
| Inhibrx Biosciences, Inc.<sup>(b)</sup> | 686 | &nbsp;&nbsp; 57706 |
| Insmed, Inc.<sup>(b)</sup> | 9874 | &nbsp;&nbsp; 2051521 |
| Intellia Therapeutics, Inc.<sup>(b)(c)</sup> | 4985 | &nbsp;&nbsp; 44815 |
| Ionis Pharmaceuticals, Inc.<sup>(b)</sup> | 7430 | &nbsp;&nbsp; 614684 |
| Iovance Biotherapeutics, Inc.<sup>(b)(c)</sup> | 17278 | &nbsp;&nbsp; 42677 |
| Ironwood Pharmaceuticals, Inc.<sup>(b)</sup> | 7802 | &nbsp;&nbsp; 27307 |
| Janux Therapeutics, Inc.<sup>(b)(c)</sup> | 2842 | &nbsp;&nbsp; 96884 |
| KalVista Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 2407 | &nbsp;&nbsp; 34829 |
| Keros Therapeutics, Inc.<sup>(b)</sup> | 1917 | &nbsp;&nbsp; 33509 |
| Kiniksa Pharmaceuticals International PLC<sup>(b)</sup> | 2043 | &nbsp;&nbsp; 86868 |
| Krystal Biotech, Inc.<sup>(b)(c)</sup> | 1373 | &nbsp;&nbsp; 299314 |
| Kura Oncology, Inc.<sup>(b)(c)</sup> | 4059 | &nbsp;&nbsp; 49276 |
| Kymera Therapeutics, Inc.<sup>(b)(c)</sup> | 3336 | &nbsp;&nbsp; 226448 |
| Kyverna Therapeutics, Inc.<sup>(b)</sup> | 2079 | &nbsp;&nbsp; 15946 |
| Larimar Therapeutics, Inc.<sup>(b)</sup> | 3943 | &nbsp;&nbsp; 13958 |
| Legend Biotech Corp., ADR<sup>(b)</sup> | 3894 | &nbsp;&nbsp; 107903 |
| LENZ Therapeutics, Inc.<sup>(b)(c)</sup> | 1369 | &nbsp;&nbsp; 41782 |
| Lexeo Therapeutics, Inc.<sup>(b)</sup> | 2488 | &nbsp;&nbsp; 24532 |
| Lexicon Pharmaceuticals, Inc.<sup>(b)</sup> | 17558 | &nbsp;&nbsp; 25108 |
| Lyell Immunopharma, Inc.<sup>(b)(c)</sup> | 963 | &nbsp;&nbsp; 23112 |
| MacroGenics, Inc.<sup>(b)(c)</sup> | 3048 | &nbsp;&nbsp; 4663 |
| Madrigal Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 1038 | &nbsp;&nbsp; 619665 |
| MannKind Corp.<sup>(b)</sup> | 14497 | &nbsp;&nbsp; 77559 |
| MeiraGTx Holdings PLC<sup>(b)(c)</sup> | 3879 | &nbsp;&nbsp; 32196 |
| Mersana Therapeutics, Inc.<sup>(b)</sup> | 231 | &nbsp;&nbsp; 6336 |
| Merus N.V. (Netherlands)<sup>(b)</sup> | 3526 | &nbsp;&nbsp; 338990 |
| Mesoblast Ltd., ADR (Australia)<sup>(b)</sup> | 2200 | &nbsp;&nbsp; 37906 |
| Mineralys Therapeutics, Inc.<sup>(b)</sup> | 3108 | &nbsp;&nbsp; 134017 |
| Mirum Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 2334 | &nbsp;&nbsp; 170499 |
| Moderna, Inc.<sup>(b)(c)</sup> | 18191 | &nbsp;&nbsp; 472602 |

---

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

------

**Invesco Nasdaq Biotechnology ETF (IBBQ)—(continued)**

November 30, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Biotechnology-(continued)** | **Biotechnology-(continued)** | **Biotechnology-(continued)** |
| Monte Rosa Therapeutics, Inc.<sup>(b)(c)</sup> | 3008 | &nbsp;&nbsp; $48639 |
| Neurocrine Biosciences, Inc.<sup>(b)</sup> | 4645 | &nbsp;&nbsp; 706783 |
| Neurogene, Inc.<sup>(b)(c)</sup> | 677 | &nbsp;&nbsp; 14271 |
| &nbsp;&nbsp;&nbsp; NewAmsterdam Pharma Co. N.V. <br> (Netherlands)<sup>(b)</sup><br>| 5288 | &nbsp;&nbsp; 218394 |
| Nkarta, Inc.<sup>(b)</sup> | 3431 | &nbsp;&nbsp; 6485 |
| Novavax, Inc.<sup>(b)(c)</sup> | 7422 | &nbsp;&nbsp; 52325 |
| Nurix Therapeutics, Inc.<sup>(b)(c)</sup> | 3679 | &nbsp;&nbsp; 65045 |
| Nuvalent, Inc., Class A<sup>(b)(c)</sup> | 3110 | &nbsp;&nbsp; 340079 |
| Olema Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 3297 | &nbsp;&nbsp; 93371 |
| OnKure Therapeutics, Inc.<sup>(b)(c)</sup> | 618 | &nbsp;&nbsp; 1860 |
| ORIC Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 4495 | &nbsp;&nbsp; 53401 |
| Oruka Therapeutics, Inc.<sup>(b)(c)</sup> | 1812 | &nbsp;&nbsp; 54541 |
| PepGen, Inc.<sup>(b)</sup> | 1587 | &nbsp;&nbsp; 10220 |
| Praxis Precision Medicines, Inc.<sup>(b)(c)</sup> | 989 | &nbsp;&nbsp; 194299 |
| Precigen, Inc.<sup>(b)(c)</sup> | 13538 | &nbsp;&nbsp; 51851 |
| Prime Medicine, Inc.<sup>(b)(c)</sup> | 8064 | &nbsp;&nbsp; 30804 |
| Protagonist Therapeutics, Inc.<sup>(b)(c)</sup> | 2894 | &nbsp;&nbsp; 260460 |
| Prothena Corp. PLC (Ireland)<sup>(b)(c)</sup> | 2606 | &nbsp;&nbsp; 28015 |
| PTC Therapeutics, Inc.<sup>(b)(c)</sup> | 3707 | &nbsp;&nbsp; 318765 |
| Pyxis Oncology, Inc.<sup>(b)(c)</sup> | 3001 | &nbsp;&nbsp; 15575 |
| Q32 Bio, Inc.<sup>(b)</sup> | 592 | &nbsp;&nbsp; 1296 |
| Recursion Pharmaceuticals, Inc., Class A<sup>(b)(c)</sup> | 19929 | &nbsp;&nbsp; 92271 |
| Regeneron Pharmaceuticals, Inc. | 4846 | &nbsp;&nbsp; 3780801 |
| REGENXBIO, Inc.<sup>(b)(c)</sup> | 2425 | &nbsp;&nbsp; 32471 |
| Relay Therapeutics, Inc.<sup>(b)(c)</sup> | 8041 | &nbsp;&nbsp; 63685 |
| Replimune Group, Inc.<sup>(b)(c)</sup> | 3714 | &nbsp;&nbsp; 37140 |
| Revolution Medicines, Inc.<sup>(b)(c)</sup> | 8744 | &nbsp;&nbsp; 679933 |
| Rhythm Pharmaceuticals, Inc.<sup>(b)</sup> | 3093 | &nbsp;&nbsp; 337415 |
| Rigel Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 856 | &nbsp;&nbsp; 43219 |
| Rocket Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 5186 | &nbsp;&nbsp; 17736 |
| Roivant Sciences Ltd.<sup>(b)</sup> | 31908 | &nbsp;&nbsp; 664006 |
| Sana Biotechnology, Inc.<sup>(b)(c)</sup> | 12238 | &nbsp;&nbsp; 52623 |
| Sarepta Therapeutics, Inc.<sup>(b)(c)</sup> | 4578 | &nbsp;&nbsp; 97695 |
| Savara, Inc.<sup>(b)(c)</sup> | 8346 | &nbsp;&nbsp; 52496 |
| Scholar Rock Holding Corp.<sup>(b)(c)</sup> | 4509 | &nbsp;&nbsp; 198667 |
| &nbsp;&nbsp;&nbsp; Silence Therapeutics PLC, ADR (United <br> Kingdom)<sup>(b)</sup><br>| 2266 | &nbsp;&nbsp; 15273 |
| Solid Biosciences, Inc.<sup>(b)(c)</sup> | 3731 | &nbsp;&nbsp; 20259 |
| Spyre Therapeutics, Inc.<sup>(b)(c)</sup> | 2855 | &nbsp;&nbsp; 85650 |
| Stoke Therapeutics, Inc.<sup>(b)(c)</sup> | 2536 | &nbsp;&nbsp; 78388 |
| Summit Therapeutics, Inc.<sup>(b)(c)</sup> | 34642 | &nbsp;&nbsp; 619745 |
| Sutro Biopharma, Inc.<sup>(b)</sup> | 4077 | &nbsp;&nbsp; 3748 |
| Syndax Pharmaceuticals, Inc.<sup>(b)</sup> | 3926 | &nbsp;&nbsp; 77813 |
| Tango Therapeutics, Inc.<sup>(b)(c)</sup> | 5188 | &nbsp;&nbsp; 56601 |
| Taysha Gene Therapies, Inc.<sup>(b)(c)</sup> | 12573 | &nbsp;&nbsp; 59596 |
| Tectonic Therapeutic, Inc.<sup>(b)(c)</sup> | 889 | &nbsp;&nbsp; 19060 |
| Tevogen Bio Holdings, Inc.<sup>(b)(c)</sup> | 8861 | &nbsp;&nbsp; 3909 |
| Travere Therapeutics, Inc.<sup>(b)(c)</sup> | 4171 | &nbsp;&nbsp; 147695 |
| TScan Therapeutics, Inc.<sup>(b)(c)</sup> | 2514 | &nbsp;&nbsp; 2791 |
| Twist Bioscience Corp.<sup>(b)(c)</sup> | 2799 | &nbsp;&nbsp; 89596 |
| Tyra Biosciences, Inc.<sup>(b)</sup> | 2524 | &nbsp;&nbsp; 56941 |
| Ultragenyx Pharmaceutical, Inc.<sup>(b)</sup> | 4469 | &nbsp;&nbsp; 155298 |
| uniQure N.V. (Netherlands)<sup>(b)</sup> | 2537 | &nbsp;&nbsp; 69793 |
| United Therapeutics Corp.<sup>(b)</sup> | 2102 | &nbsp;&nbsp; 1021572 |
| UroGen Pharma Ltd.<sup>(b)(c)</sup> | 2228 | &nbsp;&nbsp; 64189 |
| Vanda Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 2846 | &nbsp;&nbsp; 15255 |
| Vaxcyte, Inc.<sup>(b)(c)</sup> | 6073 | &nbsp;&nbsp; 301282 |
| Vera Therapeutics, Inc.<sup>(b)</sup> | 3019 | &nbsp;&nbsp; 101891 |
| Veracyte, Inc.<sup>(b)</sup> | 3650 | &nbsp;&nbsp; 172791 |
| Vericel Corp.<sup>(b)(c)</sup> | 2394 | &nbsp;&nbsp; 96359 |
| Vertex Pharmaceuticals, Inc.<sup>(b)</sup> | 9881 | &nbsp;&nbsp; 4284500 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Biotechnology-(continued)** | **Biotechnology-(continued)** | **Biotechnology-(continued)** |
| Vir Biotechnology, Inc.<sup>(b)(c)</sup> | 6627 | &nbsp;&nbsp; $42545 |
| Voyager Therapeutics, Inc.<sup>(b)</sup> | 2668 | &nbsp;&nbsp; 10912 |
| Xencor, Inc.<sup>(b)(c)</sup> | 3440 | &nbsp;&nbsp; 59581 |
| Xenon Pharmaceuticals, Inc. (Canada)<sup>(b)</sup> | 3633 | &nbsp;&nbsp; 162468 |
| Zai Lab Ltd., ADR (China)<sup>(b)(c)</sup> | 2221 | &nbsp;&nbsp; 45331 |
| Zymeworks, Inc.<sup>(b)</sup> | 3514 | &nbsp;&nbsp; 93859 |
|  |  | &nbsp;&nbsp; 47921366 |
| **Health Care Equipment & Supplies-0.11%** | **Health Care Equipment & Supplies-0.11%** | **Health Care Equipment & Supplies-0.11%** |
| Novocure Ltd.<sup>(b)</sup> | 5128 | &nbsp;&nbsp; 65690 |
| **Health Care Providers & Services-1.15%** | **Health Care Providers & Services-1.15%** | **Health Care Providers & Services-1.15%** |
| Castle Biosciences, Inc.<sup>(b)</sup> | 1399 | &nbsp;&nbsp; 55890 |
| Guardant Health, Inc.<sup>(b)</sup> | 5807 | &nbsp;&nbsp; 629595 |
|  |  | &nbsp;&nbsp; 685485 |
| **Life Sciences Tools & Services-4.73%** | **Life Sciences Tools & Services-4.73%** | **Life Sciences Tools & Services-4.73%** |
| 10X Genomics, Inc., Class A<sup>(b)(c)</sup> | 5354 | &nbsp;&nbsp; 100709 |
| AbCellera Biologics, Inc. (Canada)<sup>(b)(c)</sup> | 13699 | &nbsp;&nbsp; 51097 |
| Adaptive Biotechnologies Corp.<sup>(b)</sup> | 7118 | &nbsp;&nbsp; 139940 |
| Alpha Teknova, Inc.<sup>(b)(c)</sup> | 2535 | &nbsp;&nbsp; 11864 |
| Codexis, Inc.<sup>(b)(c)</sup> | 4036 | &nbsp;&nbsp; 6982 |
| Fortrea Holdings, Inc.<sup>(b)</sup> | 4107 | &nbsp;&nbsp; 52200 |
| Illumina, Inc.<sup>(b)</sup> | 7168 | &nbsp;&nbsp; 942234 |
| Maravai LifeSciences Holdings, Inc., Class A<sup>(b)</sup> | 6948 | &nbsp;&nbsp; 25152 |
| MaxCyte, Inc.<sup>(b)</sup> | 5127 | &nbsp;&nbsp; 9023 |
| Medpace Holdings, Inc.<sup>(b)</sup> | 1298 | &nbsp;&nbsp; 769013 |
| OmniAb, Inc.<sup>(b)</sup> | 5907 | &nbsp;&nbsp; 10692 |
| &nbsp;&nbsp;&nbsp; OmniAb, Inc., Rts., expiring <br> 11/02/2027<sup>(b)(c)(d)</sup><br>| 125 | &nbsp;&nbsp; 0 |
| OmniAb, Inc., Rts., expiring 11/02/2027<sup>(b)(d)</sup> | 125 | &nbsp;&nbsp; 0 |
| Pacific Biosciences of California, Inc.<sup>(b)</sup> | 14485 | &nbsp;&nbsp; 33605 |
| Personalis, Inc.<sup>(b)(c)</sup> | 4267 | &nbsp;&nbsp; 45785 |
| Tempus AI, Inc.<sup>(b)(c)</sup> | 7872 | &nbsp;&nbsp; 613465 |
|  |  | &nbsp;&nbsp; 2811761 |
| **Pharmaceuticals-13.29%** | **Pharmaceuticals-13.29%** | **Pharmaceuticals-13.29%** |
| Alumis, Inc.<sup>(b)</sup> | 4650 | &nbsp;&nbsp; 35665 |
| Amneal Pharmaceuticals, Inc.<sup>(b)</sup> | 14530 | &nbsp;&nbsp; 181916 |
| Amphastar Pharmaceuticals, Inc.<sup>(b)</sup> | 2114 | &nbsp;&nbsp; 58558 |
| Amylyx Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 4063 | &nbsp;&nbsp; 60864 |
| ANI Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 1008 | &nbsp;&nbsp; 85529 |
| Aquestive Therapeutics, Inc.<sup>(b)(c)</sup> | 5580 | &nbsp;&nbsp; 34540 |
| Arvinas, Inc.<sup>(b)</sup> | 3515 | &nbsp;&nbsp; 44236 |
| AstraZeneca PLC, ADR (United Kingdom) | 24205 | &nbsp;&nbsp; 2244288 |
| Atea Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 3693 | &nbsp;&nbsp; 11448 |
| Avadel Pharmaceuticals PLC<sup>(b)</sup> | 4467 | &nbsp;&nbsp; 95996 |
| Axsome Therapeutics, Inc.<sup>(b)</sup> | 2318 | &nbsp;&nbsp; 351177 |
| Collegium Pharmaceutical, Inc.<sup>(b)</sup> | 1439 | &nbsp;&nbsp; 67172 |
| CorMedix, Inc.<sup>(b)(c)</sup> | 3493 | &nbsp;&nbsp; 34266 |
| Edgewise Therapeutics, Inc.<sup>(b)(c)</sup> | 4858 | &nbsp;&nbsp; 126502 |
| Enliven Therapeutics, Inc.<sup>(b)(c)</sup> | 2721 | &nbsp;&nbsp; 58774 |
| Esperion Therapeutics, Inc.<sup>(b)(c)</sup> | 9570 | &nbsp;&nbsp; 38376 |
| Evolus, Inc.<sup>(b)(c)</sup> | 3105 | &nbsp;&nbsp; 22232 |
| EyePoint Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 3115 | &nbsp;&nbsp; 46195 |
| Harmony Biosciences Holdings, Inc.<sup>(b)</sup> | 2661 | &nbsp;&nbsp; 93907 |
| Harrow, Inc.<sup>(b)(c)</sup> | 1679 | &nbsp;&nbsp; 70149 |
| Hutchmed (China) Ltd., ADR (China)<sup>(b)(c)</sup> | 1487 | &nbsp;&nbsp; 21443 |
| Indivior PLC (United Kingdom)<sup>(b)(c)</sup> | 5878 | &nbsp;&nbsp; 197501 |
| Innoviva, Inc.<sup>(b)</sup> | 3010 | &nbsp;&nbsp; 65407 |
| Jazz Pharmaceuticals PLC<sup>(b)</sup> | 2842 | &nbsp;&nbsp; 501698 |
| Ligand Pharmaceuticals, Inc.<sup>(b)</sup> | 894 | &nbsp;&nbsp; 181643 |
| Mind Medicine (MindMed), Inc.<sup>(b)</sup> | 3651 | &nbsp;&nbsp; 46185 |
| Neumora Therapeutics, Inc.<sup>(b)</sup> | 7800 | &nbsp;&nbsp; 17472 |

---

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

------

**Invesco Nasdaq Biotechnology ETF (IBBQ)—(continued)**

November 30, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Pharmaceuticals-(continued)** | **Pharmaceuticals-(continued)** | **Pharmaceuticals-(continued)** |
| Ocular Therapeutix, Inc.<sup>(b)</sup> | 8033 | &nbsp;&nbsp; $97601 |
| Omeros Corp.<sup>(b)(c)</sup> | 3279 | &nbsp;&nbsp; 31773 |
| Pacira BioSciences, Inc.<sup>(b)(c)</sup> | 2057 | &nbsp;&nbsp; 48483 |
| Phathom Pharmaceuticals, Inc.<sup>(b)</sup> | 3354 | &nbsp;&nbsp; 52389 |
| Phibro Animal Health Corp., Class A | 989 | &nbsp;&nbsp; 41419 |
| Pliant Therapeutics, Inc.<sup>(b)(c)</sup> | 3002 | &nbsp;&nbsp; 4833 |
| Rapport Therapeutics, Inc.<sup>(b)(c)</sup> | 1651 | &nbsp;&nbsp; 49051 |
| Royalty Pharma PLC, Class A | 20151 | &nbsp;&nbsp; 806443 |
| Sanofi S.A., ADR | 12511 | &nbsp;&nbsp; 624049 |
| SIGA Technologies, Inc.<sup>(c)</sup> | 3451 | &nbsp;&nbsp; 20913 |
| Structure Therapeutics, Inc., ADR<sup>(b)(c)</sup> | 2823 | &nbsp;&nbsp; 101092 |
| Supernus Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 2610 | &nbsp;&nbsp; 118990 |
| Tarsus Pharmaceuticals, Inc.<sup>(b)</sup> | 1975 | &nbsp;&nbsp; 157921 |
| Terns Pharmaceuticals, Inc.<sup>(b)</sup> | 4171 | &nbsp;&nbsp; 117247 |
| Theravance Biopharma, Inc.<sup>(b)(c)</sup> | 2419 | &nbsp;&nbsp; 49106 |
| Third Harmonic Bio, Inc., Class B<sup>(b)(d)</sup> | 1605 | &nbsp;&nbsp; 48 |
| Trevi Therapeutics, Inc.<sup>(b)(c)</sup> | 5608 | &nbsp;&nbsp; 73969 |
| Viatris, Inc. | 54393 | &nbsp;&nbsp; 581461 |
| WaVe Life Sciences Ltd.<sup>(b)(c)</sup> | 7426 | &nbsp;&nbsp; 57626 |
| Xeris Biopharma Holdings, Inc.<sup>(b)(c)</sup> | 7615 | &nbsp;&nbsp; 54676 |
| Zevra Therapeutics, Inc.<sup>(b)(c)</sup> | 2641 | &nbsp;&nbsp; 22264 |
|  |  | &nbsp;&nbsp; 7904493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $51,170,805) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $51,170,805) | &nbsp;&nbsp; 59388795 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Money Market Funds-0.06%** |  |  |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.91%<sup>(e)(f)</sup> <br>(Cost $32,828)<br>| 32828 | &nbsp;&nbsp; $32828 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.92% <br>(Cost $51,203,633) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.92% <br>(Cost $51,203,633) | &nbsp;&nbsp; 59421623 |
| **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** |
| **Money Market Funds-19.32%** | **Money Market Funds-19.32%** | **Money Market Funds-19.32%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.00%<sup>(e)(f)(g)</sup><br>| 3250546 | &nbsp;&nbsp; 3250546 |
| Invesco Private Prime Fund, 4.12%<sup>(e)(f)(g)</sup> | 8238894 | &nbsp;&nbsp; 8241366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $11,491,953) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $11,491,953) | &nbsp;&nbsp; 11491912 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-119.24% <br>(Cost $62,695,586) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-119.24% <br>(Cost $62,695,586) | &nbsp;&nbsp; 70913535 |
| OTHER ASSETS LESS LIABILITIES-(19.24)% | OTHER ASSETS LESS LIABILITIES-(19.24)% | &nbsp;&nbsp; (11440231)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $59473304 |

---

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

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 November 30, 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 three months ended November 30, 2025.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**August 31, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**November 30, 2025**<br>| **Dividend Income** |
| **Investments in** <br> **Affiliated Money Market** <br> **Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & <br> Agency Portfolio, <br> Institutional Class<br>| &nbsp;&nbsp;&nbsp; $18857 | &nbsp;&nbsp;&nbsp; $168197 | &nbsp;&nbsp;&nbsp; $(154226)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $32828 | &nbsp;&nbsp;&nbsp; $326 |
| **Investments Purchased** <br> **with Cash Collateral** <br> **from Securities on** <br> **Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; 1910357 | &nbsp;&nbsp;&nbsp; 4313060 | &nbsp;&nbsp;&nbsp; (2972871)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 3250546 | &nbsp;&nbsp;&nbsp; 23,879<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 4966542 | &nbsp;&nbsp;&nbsp; 9169405 | &nbsp;&nbsp;&nbsp; (5894617)<br>| &nbsp;&nbsp;&nbsp; (344)<br>| &nbsp;&nbsp;&nbsp; 380 | &nbsp;&nbsp;&nbsp; 8241366 | &nbsp;&nbsp;&nbsp; 63,434<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $6895756 | &nbsp;&nbsp;&nbsp; $13650662 | &nbsp;&nbsp;&nbsp; $(9021714)<br>| &nbsp;&nbsp;&nbsp; $(344)<br>| &nbsp;&nbsp;&nbsp; $380 | &nbsp;&nbsp;&nbsp; $11524740 | &nbsp;&nbsp;&nbsp; $87639 |

---

&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 Biotechnology ETF (IBBQ)—(continued)**

November 30, 2025

*(Unaudited)*

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

<sup>(f)</sup> The rate shown is the 7-day SEC standardized yield as of November 30, 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 Free Cash Flow Achievers ETF (QOWZ)**

November 30, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.99%** | **Common Stocks & Other Equity Interests-99.99%** | **Common Stocks & Other Equity Interests-99.99%** |
| **Building Products-0.84%** | **Building Products-0.84%** | **Building Products-0.84%** |
| Owens Corning | 1063 | &nbsp;&nbsp; $120374 |
| **Commercial Services & Supplies-6.76%** | **Commercial Services & Supplies-6.76%** | **Commercial Services & Supplies-6.76%** |
| Cintas Corp. | 1564 | &nbsp;&nbsp; 290935 |
| Clean Harbors, Inc.<sup>(b)</sup> | 668 | &nbsp;&nbsp; 152010 |
| Republic Services, Inc. | 1329 | &nbsp;&nbsp; 288473 |
| Rollins, Inc. | 3790 | &nbsp;&nbsp; 233009 |
|  |  | &nbsp;&nbsp; 964427 |
| **Electronic Equipment, Instruments & Components-1.35%** | **Electronic Equipment, Instruments & Components-1.35%** | **Electronic Equipment, Instruments & Components-1.35%** |
| Teledyne Technologies, Inc.<sup>(b)</sup> | 387 | &nbsp;&nbsp; 193314 |
| **Entertainment-3.16%** | **Entertainment-3.16%** | **Entertainment-3.16%** |
| Warner Bros. Discovery, Inc.<sup>(b)</sup> | 18812 | &nbsp;&nbsp; 451488 |
| **Financial Services-4.27%** | **Financial Services-4.27%** | **Financial Services-4.27%** |
| Mastercard, Inc., Class A | 1106 | &nbsp;&nbsp; 608886 |
| **Food Products-0.72%** | **Food Products-0.72%** | **Food Products-0.72%** |
| Marzetti Co. (The) | 618 | &nbsp;&nbsp; 103169 |
| **Ground Transportation-1.42%** | **Ground Transportation-1.42%** | **Ground Transportation-1.42%** |
| Old Dominion Freight Line, Inc. | 1500 | &nbsp;&nbsp; 202935 |
| **Health Care Equipment & Supplies-3.27%** | **Health Care Equipment & Supplies-3.27%** | **Health Care Equipment & Supplies-3.27%** |
| Becton, Dickinson and Co. | 1450 | &nbsp;&nbsp; 281329 |
| DexCom, Inc.<sup>(b)</sup> | 2926 | &nbsp;&nbsp; 185713 |
|  |  | &nbsp;&nbsp; 467042 |
| **Health Care Providers & Services-1.47%** | **Health Care Providers & Services-1.47%** | **Health Care Providers & Services-1.47%** |
| Chemed Corp. | 274 | &nbsp;&nbsp; 120338 |
| CorVel Corp.<sup>(b)</sup> | 1224 | &nbsp;&nbsp; 89572 |
|  |  | &nbsp;&nbsp; 209910 |
| **Health Care Technology-1.61%** | **Health Care Technology-1.61%** | **Health Care Technology-1.61%** |
| Veeva Systems, Inc., Class A<sup>(b)</sup> | 954 | &nbsp;&nbsp; 229237 |
| **Hotels, Restaurants & Leisure-1.39%** | **Hotels, Restaurants & Leisure-1.39%** | **Hotels, Restaurants & Leisure-1.39%** |
| Domino's Pizza, Inc. | 379 | &nbsp;&nbsp; 159040 |
| Nathan's Famous, Inc.<sup>(c)</sup> | 426 | &nbsp;&nbsp; 39303 |
|  |  | &nbsp;&nbsp; 198343 |
| **Household Durables-1.32%** | **Household Durables-1.32%** | **Household Durables-1.32%** |
| NVR, Inc.<sup>(b)</sup> | 25 | &nbsp;&nbsp; 187682 |
| **Household Products-1.28%** | **Household Products-1.28%** | **Household Products-1.28%** |
| Church & Dwight Co., Inc. | 2142 | &nbsp;&nbsp; 182413 |
| **Interactive Media & Services-6.12%** | **Interactive Media & Services-6.12%** | **Interactive Media & Services-6.12%** |
| Meta Platforms, Inc., Class A | 1349 | &nbsp;&nbsp; 874085 |
| **IT Services-1.85%** | **IT Services-1.85%** | **IT Services-1.85%** |
| ASGN, Inc.<sup>(b)</sup> | 1570 | &nbsp;&nbsp; 70666 |
| VeriSign, Inc. | 766 | &nbsp;&nbsp; 193024 |
|  |  | &nbsp;&nbsp; 263690 |
| **Life Sciences Tools & Services-5.41%** | **Life Sciences Tools & Services-5.41%** | **Life Sciences Tools & Services-5.41%** |
| Mettler-Toledo International, Inc.<sup>(b)</sup> | 164 | &nbsp;&nbsp; 242182 |
| Thermo Fisher Scientific, Inc. | 898 | &nbsp;&nbsp; 530566 |
|  |  | &nbsp;&nbsp; 772748 |
| **Machinery-3.02%** | **Machinery-3.02%** | **Machinery-3.02%** |
| Proto Labs, Inc.<sup>(b)</sup> | 1317 | &nbsp;&nbsp; 66930 |
| Watts Water Technologies, Inc., Class A | 476 | &nbsp;&nbsp; 131319 |
| Xylem, Inc. | 1650 | &nbsp;&nbsp; 232105 |
|  |  | &nbsp;&nbsp; 430354 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Professional Services-6.74%** | **Professional Services-6.74%** | **Professional Services-6.74%** |
| Automatic Data Processing, Inc. | 1245 | &nbsp;&nbsp; $317848 |
| Exponent, Inc. | 1396 | &nbsp;&nbsp; 100931 |
| Leidos Holdings, Inc. | 1112 | &nbsp;&nbsp; 212503 |
| Paychex, Inc. | 1933 | &nbsp;&nbsp; 215897 |
| Paycom Software, Inc. | 710 | &nbsp;&nbsp; 114431 |
|  |  | &nbsp;&nbsp; 961610 |
| **Semiconductors & Semiconductor Equipment-22.71%** | **Semiconductors & Semiconductor Equipment-22.71%** | **Semiconductors & Semiconductor Equipment-22.71%** |
| Broadcom, Inc. | 3183 | &nbsp;&nbsp; 1282622 |
| KLA Corp. | 423 | &nbsp;&nbsp; 497224 |
| NVIDIA Corp. | 8252 | &nbsp;&nbsp; 1460604 |
|  |  | &nbsp;&nbsp; 3240450 |
| **Software-25.28%** | **Software-25.28%** | **Software-25.28%** |
| Adobe, Inc.<sup>(b)</sup> | 1148 | &nbsp;&nbsp; 367509 |
| Cadence Design Systems, Inc.<sup>(b)</sup> | 982 | &nbsp;&nbsp; 306227 |
| Fair Isaac Corp.<sup>(b)</sup> | 157 | &nbsp;&nbsp; 283515 |
| Fortinet, Inc.<sup>(b)</sup> | 3674 | &nbsp;&nbsp; 298072 |
| Intuit, Inc. | 663 | &nbsp;&nbsp; 420395 |
| Manhattan Associates, Inc.<sup>(b)</sup> | 754 | &nbsp;&nbsp; 133043 |
| Progress Software Corp.<sup>(b)</sup> | 1723 | &nbsp;&nbsp; 71349 |
| PTC, Inc.<sup>(b)</sup> | 981 | &nbsp;&nbsp; 172097 |
| Qualys, Inc.<sup>(b)</sup> | 824 | &nbsp;&nbsp; 116060 |
| ReposiTrak, Inc. | 2396 | &nbsp;&nbsp; 32298 |
| Roper Technologies, Inc. | 536 | &nbsp;&nbsp; 239174 |
| Salesforce, Inc. | 1915 | &nbsp;&nbsp; 441484 |
| ServiceNow, Inc.<sup>(b)</sup> | 487 | &nbsp;&nbsp; 395644 |
| SPS Commerce, Inc.<sup>(b)</sup> | 955 | &nbsp;&nbsp; 79571 |
| Workday, Inc., Class A<sup>(b)</sup> | 1166 | &nbsp;&nbsp; 251413 |
|  |  | &nbsp;&nbsp; 3607851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $13,122,989) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $13,122,989) | &nbsp;&nbsp; 14270008 |
| **Money Market Funds-0.01%** |  |  |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.91%<sup>(d)(e)</sup> <br>(Cost $1,273)<br>| 1273 | &nbsp;&nbsp; 1273 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-100.00% <br>(Cost $13,124,262) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-100.00% <br>(Cost $13,124,262) | &nbsp;&nbsp; 14271281 |
| **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** |
| **Money Market Funds-0.20%** | **Money Market Funds-0.20%** | **Money Market Funds-0.20%** |
| Invesco Private Government Fund, 4.00%<sup>(d)(e)(f)</sup> | 7876 | &nbsp;&nbsp; 7876 |
| Invesco Private Prime Fund, 4.12%<sup>(d)(e)(f)</sup> | 20243 | &nbsp;&nbsp; 20249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $28,125) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $28,125) | &nbsp;&nbsp; 28125 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-100.20% <br>(Cost $13,152,387) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-100.20% <br>(Cost $13,152,387) | &nbsp;&nbsp; 14299406 |
| OTHER ASSETS LESS LIABILITIES-(0.20)% | OTHER ASSETS LESS LIABILITIES-(0.20)% | &nbsp;&nbsp; (28147)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $14271259 |

---

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

------

**Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ)—(continued)**

November 30, 2025

*(Unaudited)*

---

| | |
|:---|:---|
| 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 November 30, 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 three months ended November 30, 2025.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**August 31, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**November 30, 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; $1107 | &nbsp;&nbsp;&nbsp; $47860 | &nbsp;&nbsp;&nbsp; $(47694)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1273 | &nbsp;&nbsp;&nbsp; $32 |
| **Investments Purchased** <br> **with Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; 172276 | &nbsp;&nbsp;&nbsp; 910142 | &nbsp;&nbsp;&nbsp; (1074542)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 7876 | &nbsp;&nbsp;&nbsp; 902<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 449254 | &nbsp;&nbsp;&nbsp; 2008402 | &nbsp;&nbsp;&nbsp; (2437394)<br>| &nbsp;&nbsp;&nbsp; (35)<br>| &nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp; 20249 | &nbsp;&nbsp;&nbsp; 2,293<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $622637 | &nbsp;&nbsp;&nbsp; $2966404 | &nbsp;&nbsp;&nbsp; $(3559630)<br>| &nbsp;&nbsp;&nbsp; $(35)<br>| &nbsp;&nbsp;&nbsp; $22 | &nbsp;&nbsp;&nbsp; $29398 | &nbsp;&nbsp;&nbsp; $3227 |

---

&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 November 30, 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 PHLX Semiconductor ETF (SOXQ)**

November 30, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.94%** | **Common Stocks & Other Equity Interests-99.94%** | **Common Stocks & Other Equity Interests-99.94%** |
| **Electronic Equipment, Instruments & Components-1.64%** | **Electronic Equipment, Instruments & Components-1.64%** | **Electronic Equipment, Instruments & Components-1.64%** |
| Coherent Corp.<sup>(b)</sup> | 75997 | &nbsp;&nbsp; $12483267 |
| **Semiconductors & Semiconductor Equipment-98.30%** | **Semiconductors & Semiconductor Equipment-98.30%** | **Semiconductors & Semiconductor Equipment-98.30%** |
| Advanced Micro Devices, Inc.<sup>(b)</sup> | 300141 | &nbsp;&nbsp; 65289672 |
| Analog Devices, Inc. | 97023 | &nbsp;&nbsp; 25744083 |
| Applied Materials, Inc. | 151619 | &nbsp;&nbsp; 38245893 |
| ARM Holdings PLC, ADR<sup>(b)(c)</sup> | 66692 | &nbsp;&nbsp; 9040767 |
| &nbsp;&nbsp;&nbsp; ASML Holding N.V., New York Shares <br> (Netherlands)<br>| 32869 | &nbsp;&nbsp; 34841140 |
| Astera Labs, Inc.<sup>(b)</sup> | 81158 | &nbsp;&nbsp; 12788066 |
| Broadcom, Inc. | 205157 | &nbsp;&nbsp; 82670065 |
| Credo Technology Group Holding Ltd.<sup>(b)</sup> | 84313 | &nbsp;&nbsp; 14973989 |
| Entegris, Inc.<sup>(c)</sup> | 73942 | &nbsp;&nbsp; 5703886 |
| GLOBALFOUNDRIES, Inc.<sup>(b)(c)</sup> | 270849 | &nbsp;&nbsp; 9707228 |
| Intel Corp.<sup>(b)</sup> | 1001051 | &nbsp;&nbsp; 40602629 |
| KLA Corp. | 28007 | &nbsp;&nbsp; 32921388 |
| Lam Research Corp. | 243725 | &nbsp;&nbsp; 38021100 |
| MACOM Technology Solutions Holdings, Inc.<sup>(b)</sup> | 36378 | &nbsp;&nbsp; 6365786 |
| Marvell Technology, Inc. | 387777 | &nbsp;&nbsp; 34667264 |
| Microchip Technology, Inc. | 263344 | &nbsp;&nbsp; 14109971 |
| Micron Technology, Inc. | 205084 | &nbsp;&nbsp; 48498264 |
| Monolithic Power Systems, Inc. | 23383 | &nbsp;&nbsp; 21703399 |
| Nova Ltd. (Israel)<sup>(b)(c)</sup> | 14322 | &nbsp;&nbsp; 4480494 |
| NVIDIA Corp. | 420324 | &nbsp;&nbsp; 74397348 |
| NXP Semiconductors N.V. (Netherlands) | 103837 | &nbsp;&nbsp; 20241985 |
| ON Semiconductor Corp.<sup>(b)</sup> | 199644 | &nbsp;&nbsp; 10030115 |
| Qorvo, Inc.<sup>(b)</sup> | 45267 | &nbsp;&nbsp; 3887983 |
| QUALCOMM, Inc. | 151643 | &nbsp;&nbsp; 25489672 |
| Rambus, Inc.<sup>(b)</sup> | 52486 | &nbsp;&nbsp; 5016087 |
| Skyworks Solutions, Inc. | 72425 | &nbsp;&nbsp; 4776429 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd., <br> ADR (Taiwan)<br>| 105688 | &nbsp;&nbsp; 30809109 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Semiconductors & Semiconductor Equipment-(continued)** | **Semiconductors & Semiconductor Equipment-(continued)** | **Semiconductors & Semiconductor Equipment-(continued)** |
| Teradyne, Inc. | 77678 | &nbsp;&nbsp; $14128851 |
| Texas Instruments, Inc. | 120420 | &nbsp;&nbsp; 20263074 |
|  |  | &nbsp;&nbsp; 749415737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $620,451,961) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $620,451,961) | &nbsp;&nbsp; 761899004 |
| **Money Market Funds-0.04%** |  |  |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.91%<sup>(d)(e)</sup> <br>(Cost $250,909)<br>| 250909 | &nbsp;&nbsp; 250909 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.98% <br>(Cost $620,702,870) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.98% <br>(Cost $620,702,870) | &nbsp;&nbsp; 762149913 |
| **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** |
| **Money Market Funds-1.14%** | **Money Market Funds-1.14%** | **Money Market Funds-1.14%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.00%<sup>(d)(e)(f)</sup><br>| 2435844 | &nbsp;&nbsp; 2435844 |
| Invesco Private Prime Fund, 4.12%<sup>(d)(e)(f)</sup> | 6256926 | &nbsp;&nbsp; 6258803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $8,694,647) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $8,694,647) | &nbsp;&nbsp; 8694647 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-101.12% <br>(Cost $629,397,517) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-101.12% <br>(Cost $629,397,517) | &nbsp;&nbsp; 770844560 |
| OTHER ASSETS LESS LIABILITIES-(1.12)% | OTHER ASSETS LESS LIABILITIES-(1.12)% | &nbsp;&nbsp; (8501206)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $762343354 |

---

&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 November 30, 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 three months ended November 30, 2025.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**August 31, 2025**<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>**November 30, 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; $494476 | &nbsp;&nbsp;&nbsp; $1116641 | &nbsp;&nbsp;&nbsp; $(1360208)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $250909 | &nbsp;&nbsp;&nbsp; $5500 |

---

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

------

**Invesco PHLX Semiconductor ETF (SOXQ)—(continued)**

November 30, 2025

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **August 31, 2025**<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> **November 30, 2025**<br>| **Dividend Income** |
| **Investments** <br> **Purchased with Cash** <br> **Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; $52246 | &nbsp;&nbsp;&nbsp; $30780191 | &nbsp;&nbsp;&nbsp; $(28396593)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $2435844 | &nbsp;&nbsp;&nbsp; $32,928<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 214645 | &nbsp;&nbsp;&nbsp; 74086437 | &nbsp;&nbsp;&nbsp; (68040626)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; (1653)<br>| &nbsp;&nbsp;&nbsp; 6258803 | &nbsp;&nbsp;&nbsp; 92,553<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $761367 | &nbsp;&nbsp;&nbsp; $105983269 | &nbsp;&nbsp;&nbsp; $(97797427)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $(1653)<br>| &nbsp;&nbsp;&nbsp; $8945556 | &nbsp;&nbsp;&nbsp; $130981 |

---

&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 November 30, 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 Solar ETF (TAN)**

November 30, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.95%** | **Common Stocks & Other Equity Interests-99.95%** | **Common Stocks & Other Equity Interests-99.95%** |
| **Construction & Engineering-0.84%** | **Construction & Engineering-0.84%** | **Construction & Engineering-0.84%** |
| West Holdings Corp. (Japan) | 833655 | &nbsp;&nbsp; $8179750 |
| **Electrical Equipment-24.31%** | **Electrical Equipment-24.31%** | **Electrical Equipment-24.31%** |
| Array Technologies, Inc.<sup>(b)(c)</sup> | 3650975 | &nbsp;&nbsp; 27418822 |
| Nextracker, Inc., Class A<sup>(b)(c)</sup> | 1232076 | &nbsp;&nbsp; 112882803 |
| &nbsp;&nbsp;&nbsp; Shoals Technologies Group, Inc., <br> Class A<sup>(b)(c)</sup><br>| 3622665 | &nbsp;&nbsp; 30394160 |
| Sunrun, Inc.<sup>(b)(c)</sup> | 3233557 | &nbsp;&nbsp; 65479529 |
|  |  | &nbsp;&nbsp; 236175314 |
| **Financial Services-4.18%** | **Financial Services-4.18%** | **Financial Services-4.18%** |
| &nbsp;&nbsp;&nbsp; HA Sustainable Infrastructure Capital, <br> Inc.<sup>(c)</sup><br>| 1182616 | &nbsp;&nbsp; 40634686 |
| **Independent Power and Renewable Electricity Producers-24.27%** | **Independent Power and Renewable Electricity Producers-24.27%** | **Independent Power and Renewable Electricity Producers-24.27%** |
| Clearway Energy, Inc., Class C | 943509 | &nbsp;&nbsp; 34551300 |
| &nbsp;&nbsp;&nbsp; Doral Group Renewable Energy Resources <br> Ltd. (Israel)<sup>(b)</sup><br>| 2883028 | &nbsp;&nbsp; 26089330 |
| &nbsp;&nbsp;&nbsp; Energix-Renewable Energies Ltd. <br> (Israel)<sup>(c)</sup><br>| 3670965 | &nbsp;&nbsp; 16065622 |
| Enlight Renewable Energy Ltd. (Israel)<sup>(b)</sup> | 1179630 | &nbsp;&nbsp; 46682633 |
| Grenergy Renovables S.A. (Spain)<sup>(b)</sup> | 250851 | &nbsp;&nbsp; 19880048 |
| OY Nofar Energy Ltd. (Israel)<sup>(b)(c)</sup> | 606276 | &nbsp;&nbsp; 17642088 |
| &nbsp;&nbsp;&nbsp; ReNew Energy Global PLC, Class A <br> (India)<sup>(b)(c)</sup><br>| 1326187 | &nbsp;&nbsp; 10092283 |
| Scatec ASA (South Africa)<sup>(b)(d)</sup> | 1680581 | &nbsp;&nbsp; 16551436 |
| &nbsp;&nbsp;&nbsp; Solaria Energia y Medio Ambiente S.A. <br> (Spain)<sup>(b)(c)</sup><br>| 1950880 | &nbsp;&nbsp; 37778524 |
| Xinyi Energy Holdings Ltd. (China)<sup>(c)</sup> | 68335282 | &nbsp;&nbsp; 10380027 |
|  |  | &nbsp;&nbsp; 235713291 |
| **Semiconductors & Semiconductor Equipment-46.35%** | **Semiconductors & Semiconductor Equipment-46.35%** | **Semiconductors & Semiconductor Equipment-46.35%** |
| Canadian Solar, Inc. (Canada)<sup>(b)(c)</sup> | 1334470 | &nbsp;&nbsp; 36230861 |
| Daqo New Energy Corp., ADR (China)<sup>(b)</sup> | 1040533 | &nbsp;&nbsp; 32964085 |
| Enphase Energy, Inc.<sup>(b)(c)</sup> | 1663371 | &nbsp;&nbsp; 47988253 |
| First Solar, Inc.<sup>(b)</sup> | 407428 | &nbsp;&nbsp; 111195250 |
| &nbsp;&nbsp;&nbsp; Flat Glass Group Co. Ltd., H Shares <br> (China)<sup>(b)(c)</sup><br>| 10850758 | &nbsp;&nbsp; 14599235 |
| &nbsp;&nbsp;&nbsp; GCL Technology Holdings Ltd. <br> (China)<sup>(b)(c)</sup><br>| 315500222 | &nbsp;&nbsp; 47180972 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Semiconductors & Semiconductor Equipment-(continued)** | **Semiconductors & Semiconductor Equipment-(continued)** | **Semiconductors & Semiconductor Equipment-(continued)** |
| &nbsp;&nbsp;&nbsp; JinkoSolar Holding Co. Ltd., ADR <br> (China)<sup>(c)</sup><br>| 899212 | &nbsp;&nbsp; $23505402 |
| Motech Industries, Inc. (Taiwan) | 16133000 | &nbsp;&nbsp; 8576303 |
| SMA Solar Technology AG (Germany)<sup>(b)(c)</sup> | 698912 | &nbsp;&nbsp; 28077927 |
| SolarEdge Technologies, Inc.<sup>(b)(c)</sup> | 1261186 | &nbsp;&nbsp; 46071125 |
| TSEC Corp. (Taiwan)<sup>(b)</sup> | 20604000 | &nbsp;&nbsp; 8822712 |
| &nbsp;&nbsp;&nbsp; United Renewable Energy Co. Ltd. <br> (Taiwan)<sup>(b)</sup><br>| 53275458 | &nbsp;&nbsp; 10675337 |
| Xinyi Solar Holdings Ltd. (China)<sup>(c)</sup> | 82785063 | &nbsp;&nbsp; 34382639 |
|  |  | &nbsp;&nbsp; 450270101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $1,087,633,614) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $1,087,633,614) | &nbsp;&nbsp; 970973142 |
| **Money Market Funds-0.08%** |  |  |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.91%<sup>(e)(f)</sup> <br>(Cost $813,341)<br>| 813341 | &nbsp;&nbsp; 813341 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.03% <br>(Cost $1,088,446,955) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.03% <br>(Cost $1,088,446,955) | &nbsp;&nbsp; 971786483 |
| **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** |
| **Money Market Funds-20.31%** | **Money Market Funds-20.31%** | **Money Market Funds-20.31%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.00%<sup>(e)(f)(g)</sup><br>| 51892428 | &nbsp;&nbsp; 51892428 |
| Invesco Private Prime Fund, 4.12%<sup>(e)(f)(g)</sup> | 145330516 | &nbsp;&nbsp; 145374115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $197,266,543) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $197,266,543) | &nbsp;&nbsp; 197266543 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-120.34% <br>(Cost $1,285,713,498) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-120.34% <br>(Cost $1,285,713,498) | &nbsp;&nbsp; 1169053026 |
| OTHER ASSETS LESS LIABILITIES-(20.34)% | OTHER ASSETS LESS LIABILITIES-(20.34)% | &nbsp;&nbsp; (197608555)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $971444471 |

---

&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 November 30, 2025. |
| <sup>(d)</sup> | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be <br> resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The value of this security at November 30, <br> 2025 represented 1.70% of the Fund's Net Assets.<br>|
| <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 three months ended November 30, 2025.<br>|

---

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

------

**Invesco Solar ETF (TAN)—(continued)**

November 30, 2025

*(Unaudited)*

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**August 31, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**November 30, 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; $- | &nbsp;&nbsp;&nbsp; $12754642 | &nbsp;&nbsp;&nbsp; $(11941301)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $813341 | &nbsp;&nbsp;&nbsp; $7115 |
| **Investments** <br> **Purchased with** <br> **Cash Collateral** <br> **from Securities on** <br> **Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; 50910793 | &nbsp;&nbsp;&nbsp; 90177118 | &nbsp;&nbsp;&nbsp; (89195483)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 51892428 | &nbsp;&nbsp;&nbsp; 433,165<br> \*<br>|
| &nbsp;&nbsp; Invesco Private <br> Prime Fund<br>| &nbsp;&nbsp;&nbsp; 132364120 | &nbsp;&nbsp;&nbsp; 240463524 | &nbsp;&nbsp;&nbsp; (227452312)<br>| &nbsp;&nbsp;&nbsp; (9886)<br>| &nbsp;&nbsp;&nbsp; 8669 | &nbsp;&nbsp;&nbsp; 145374115 | &nbsp;&nbsp;&nbsp; 1,168,949<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $183274913 | &nbsp;&nbsp;&nbsp; $343395284 | &nbsp;&nbsp;&nbsp; $(328589096)<br>| &nbsp;&nbsp;&nbsp; $(9886)<br>| &nbsp;&nbsp;&nbsp; $8669 | &nbsp;&nbsp;&nbsp; $198079884 | &nbsp;&nbsp;&nbsp; $1609229 |

---

&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 November 30, 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.

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

---

| | |
|:---|:---|
| This Fund has holdings greater than 10% of net assets in the following country: |  |
| China | 16.78% |
| Israel | 10.96% |

---

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**

November 30, 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 November 30, 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 Nasdaq Biotechnology ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $59388388 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $407 | &nbsp;&nbsp;&nbsp; $59388795 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 32828 | &nbsp;&nbsp;&nbsp; 11491912 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 11524740 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $59421216 | &nbsp;&nbsp;&nbsp; $11491912 | &nbsp;&nbsp;&nbsp; $407 | &nbsp;&nbsp;&nbsp; $70913535 |
| &nbsp;&nbsp; Invesco Nasdaq Free Cash Flow Achievers ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $14270008 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $14270008 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 1273 | &nbsp;&nbsp;&nbsp; 28125 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 29398 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $14271281 | &nbsp;&nbsp;&nbsp; $28125 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $14299406 |
| &nbsp;&nbsp; Invesco PHLX Semiconductor ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $761899004 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $761899004 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 250909 | &nbsp;&nbsp;&nbsp; 8694647 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 8945556 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $762149913 | &nbsp;&nbsp;&nbsp; $8694647 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $770844560 |
| &nbsp;&nbsp; Invesco Solar ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $619408559 | &nbsp;&nbsp;&nbsp; $351564583 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $970973142 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 813341 | &nbsp;&nbsp;&nbsp; 197266543 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 198079884 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $620221900 | &nbsp;&nbsp;&nbsp; $548831126 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1169053026 |

---

------

## 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 Nasdaq Biotechnology ETF

- **b. EDGAR series identifier (if any):** S000072469

- **c. LEI of Series:** 549300GYFD12WC2CZH57

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

- **a. Date of fiscal year-end:** 2026-08-31

- **b. Date as of which information is reported:** 2025-11-30

**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:** $70972861.05

**Total Liabilities:** $11499557.23

**Net Assets:** $59473303.82

**Cash Not Reported:** $8617.23

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000228754 | 4.39%                | 9.95%                | 8.53%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-966919.62              | $2533935.20                                |
| Month 2  | $246947.86               | $3699156.29                                |
| Month 3  | $8551.43                 | $4165819.22                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Anavex Life Sciences Corp.                 | Anavex Life Sciences Corp.                                 | CUSIP: 032797300<br>LEI: 549300K1I5L8COCQ8W36 | Long             | EC               | CORP              | US        |      4035 | NS      | $15454.05     | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Kura Oncology, Inc.                        | Kura Oncology, Inc.                                        | CUSIP: 50127T109<br>LEI: 5493005QORQTZCZYOP39 | Long             | EC               | CORP              | US        |      3979 | NS      | $48305.06     | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Voyager Therapeutics, Inc.                 | Voyager Therapeutics, Inc.                                 | CUSIP: 92915B106<br>LEI: 54930082S4XVR0ZWCC74 | Long             | EC               | CORP              | US        |      2616 | NS      | $10699.44     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| NovoCure Ltd.                              | NovoCure Ltd.                                              | CUSIP: G6674U108<br>LEI: 213800YPP55UMHWA4826 | Long             | EC               | CORP              | JE        |      5028 | NS      | $64408.68     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Ionis Pharmaceuticals, Inc.                | Ionis Pharmaceuticals, Inc.                                | CUSIP: 462222100<br>LEI: 549300SI4ZGLG0BLUZ92 | Long             | EC               | CORP              | US        |      7286 | NS      | $602770.78    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Axsome Therapeutics, Inc.                  | Axsome Therapeutics, Inc.                                  | CUSIP: 05464T104<br>LEI: 549300EXGR0XLRJEIB95 | Long             | EC               | CORP              | US        |      2274 | NS      | $344511.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Innoviva, Inc.                             | Innoviva, Inc.                                             | CUSIP: 45781M101<br>LEI: 549300ACOX4QTBES6535 | Long             | EC               | CORP              | US        |      2950 | NS      | $64103.50     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BeOne Medicines Ltd.                       | BeOne Medicines Ltd., ADR                                  | CUSIP: 07725L102<br>LEI: 549300JFUK6FRD5MH739 | Long             | EC               | CORP              | CH        |      1552 | NS      | $528626.72    | 0.89%             |  |  |  | No            |                  1 | On Loan: —       |
| Editas Medicine, Inc.                      | Editas Medicine, Inc.                                      | CUSIP: 28106W103<br>LEI: 5299000AON4Q9NT2JE42 | Long             | EC               | CORP              | US        |      3967 | NS      | $9560.47      | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Syndax Pharmaceuticals, Inc.               | Syndax Pharmaceuticals, Inc.                               | CUSIP: 87164F105<br>LEI: 529900OF94TRHKZVBS87 | Long             | EC               | CORP              | US        |      3850 | NS      | $76307.00     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Corvus Pharmaceuticals, Inc.               | Corvus Pharmaceuticals, Inc.                               | CUSIP: 221015100<br>LEI: 549300I3AVJ8F75NCX65 | Long             | EC               | CORP              | US        |      3215 | NS      | $29481.55     | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Arrowhead Pharmaceuticals, Inc.            | Arrowhead Pharmaceuticals, Inc.                            | CUSIP: 04280A100<br>LEI: 549300O3CSB8T7OZ3D66 | Long             | EC               | CORP              | US        |      6355 | NS      | $334908.50    | 0.56%             |  |  |  | No            |                  1 | On Loan: —       |
| Intellia Therapeutics, Inc.                | Intellia Therapeutics, Inc.                                | CUSIP: 45826J105<br>LEI: 5493002T5BCPE5DZC723 | Long             | EC               | CORP              | US        |      4889 | NS      | $43952.11     | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Merus N.V.                                 | Merus N.V.                                                 | CUSIP: N5749R100<br>LEI: 549300W8GPUWU8QNU293 | Long             | EC               | CORP              | NL        |      3458 | NS      | $332452.12    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                            | AstraZeneca PLC, ADR                                       | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |     23733 | NS      | $2200523.76   | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Wave Life Sciences Ltd.                    | Wave Life Sciences Ltd.                                    | CUSIP: Y95308105<br>LEI: 54930070006GPKFYZ813 | Long             | EC               | CORP              | SG        |      7282 | NS      | $56508.32     | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Madrigal Pharmaceuticals, Inc.             | Madrigal Pharmaceuticals, Inc.                             | CUSIP: 558868105<br>LEI: 549300CHIMT2EUSNJB60 | Long             | EC               | CORP              | US        |      1018 | NS      | $607725.64    | 1.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Medpace Holdings, Inc.                     | Medpace Holdings, Inc.                                     | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |      1274 | NS      | $754794.04    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Protagonist Therapeutics, Inc.             | Protagonist Therapeutics, Inc.                             | CUSIP: 74366E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2838 | NS      | $255420.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: —       |
| AC Immune S.A.                             | AC Immune S.A.                                             | CUSIP: H00263105<br>LEI: 967600VLQ0ZC2HSOG765 | Long             | EC               | CORP              | CH        |      4758 | NS      | $14226.42     | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| CRISPR Therapeutics AG                     | CRISPR Therapeutics AG                                     | CUSIP: H17182108<br>LEI: 506700O6IRRIQLT3W370 | Long             | EC               | CORP              | CH        |      4176 | NS      | $223290.72    | 0.38%             |  |  |  | No            |                  1 | On Loan: —       |
| KalVista Pharmaceuticals, Inc.             | KalVista Pharmaceuticals, Inc.                             | CUSIP: 483497103<br>LEI: 529900Q7IDA3WUGRZA51 | Long             | EC               | CORP              | US        |      2359 | NS      | $34134.73     | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| AnaptysBio, Inc.                           | AnaptysBio, Inc.                                           | CUSIP: 032724106<br>LEI: 529900HH4WQT03IG1A12 | Long             | EC               | CORP              | US        |      1285 | NS      | $53520.25     | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| MannKind Corp.                             | MannKind Corp.                                             | CUSIP: 56400P706<br>LEI: 213800GFBCNY1ZFST722 | Long             | EC               | CORP              | US        |     14213 | NS      | $76039.55     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| HUTCHMED (China) Ltd.                      | HUTCHMED (China) Ltd., ADR                                 | CUSIP: 44842L103<br>LEI: 2138006X34YDQ6OBYE79 | Long             | EC               | CORP              | KY        |      1459 | NS      | $21038.78     | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| UroGen Pharma Ltd.                         | UroGen Pharma Ltd.                                         | CUSIP: M96088105<br>LEI: 549300C0YCX7CG2G5D50 | Long             | EC               | CORP              | IL        |      2184 | NS      | $62921.04     | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| argenx SE                                  | argenx SE, ADR                                             | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |      1404 | NS      | $1280419.92   | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Iovance Biotherapeutics, Inc.              | Iovance Biotherapeutics, Inc.                              | CUSIP: 462260100<br>LEI: 2549002L8WT2ACU5Q878 | Long             | EC               | CORP              | US        |     16942 | NS      | $41846.74     | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Krystal Biotech, Inc.                      | Krystal Biotech, Inc.                                      | CUSIP: 501147102<br>LEI: 549300YONUY68210OE41 | Long             | EC               | CORP              | US        |      1345 | NS      | $293210.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: —       |
| Zai Lab Ltd.                               | Zai Lab Ltd., ADR                                          | CUSIP: 98887Q104<br>LEI: 549300P2UYQ9U5LY1T58 | Long             | EC               | CORP              | KY        |      2177 | NS      | $44432.57     | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Rhythm Pharmaceuticals, Inc.               | Rhythm Pharmaceuticals, Inc.                               | CUSIP: 76243J105<br>LEI: 529900JPNWXQ8DPLA551 | Long             | EC               | CORP              | US        |      3033 | NS      | $330869.97    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Apellis Pharmaceuticals, Inc.              | Apellis Pharmaceuticals, Inc.                              | CUSIP: 03753U106<br>LEI: 254900HS0ZFRXXSB9D42 | Long             | EC               | CORP              | US        |      5811 | NS      | $123774.30    | 0.21%             |  |  |  | No            |                  1 | On Loan: —       |
| Denali Therapeutics Inc.                   | Denali Therapeutics Inc.                                   | CUSIP: 24823R105<br>LEI: 549300ZTQ2HO18L3Q830 | Long             | EC               | CORP              | US        |      6761 | NS      | $131636.67    | 0.22%             |  |  |  | No            |                  1 | On Loan: —       |
| Rocket Pharmaceuticals, Inc.               | Rocket Pharmaceuticals, Inc.                               | CUSIP: 77313F106<br>LEI: 549300R7VV82YUIN4Y93 | Long             | EC               | CORP              | US        |      5086 | NS      | $17394.12     | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Evolus, Inc.                               | Evolus, Inc.                                               | CUSIP: 30052C107<br>LEI: 549300VYQRYBQOT8V419 | Long             | EC               | CORP              | US        |      3045 | NS      | $21802.20     | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Amneal Pharmaceuticals, Inc.               | Amneal Pharmaceuticals, Inc.                               | CUSIP: 03168L105<br>LEI: 549300VV176ZO5WQHZ61 | Long             | EC               | CORP              | US        |     14246 | NS      | $178359.92    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Scholar Rock Holding Corp.                 | Scholar Rock Holding Corp.                                 | CUSIP: 80706P103<br>LEI: 549300Z1FLPGL4OWJ459 | Long             | EC               | CORP              | US        |      4421 | NS      | $194789.26    | 0.33%             |  |  |  | No            |                  1 | On Loan: —       |
| MeiraGTx Holdings PLC                      | MeiraGTx Holdings PLC                                      | CUSIP: G59665102<br>LEI: 54930007YV6NYIOGFZ57 | Long             | EC               | CORP              | KY        |      3803 | NS      | $31564.90     | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Autolus Therapeutics PLC                   | Autolus Therapeutics PLC, ADR                              | CUSIP: 05280R100<br>LEI: 549300C0KZP8EYROLL02 | Long             | EC               | CORP              | GB        |      9478 | NS      | $13363.98     | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Crinetics Pharmaceuticals, Inc.            | Crinetics Pharmaceuticals, Inc.                            | CUSIP: 22663K107<br>LEI: 549300Q1CNFXK5P31D28 | Long             | EC               | CORP              | US        |      4343 | NS      | $197867.08    | 0.33%             |  |  |  | No            |                  1 | On Loan: —       |
| Replimune Group, Inc.                      | Replimune Group, Inc.                                      | CUSIP: 76029N106<br>LEI: 549300AY704NEIRC4K64 | Long             | EC               | CORP              | US        |      3642 | NS      | $36420.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Aquestive Therapeutics, Inc.               | Aquestive Therapeutics, Inc.                               | CUSIP: 03843E104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5472 | NS      | $33871.68     | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Altimmune, Inc.                            | Altimmune, Inc.                                            | CUSIP: 02155H200<br>LEI: 549300EOYCQ8SW3NVE64 | Long             | EC               | CORP              | US        |      3833 | NS      | $20161.58     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Sutro Biopharma, Inc.                      | Sutro Biopharma, Inc.                                      | CUSIP: 869367102<br>LEI: 5493005U6P15VD25P851 | Long             | EC               | CORP              | US        |      3997 | NS      | $3674.84      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Arvinas, Inc.                              | Arvinas, Inc.                                              | CUSIP: 04335A105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3447 | NS      | $43380.50     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Allogene Therapeutics, Inc.                | Allogene Therapeutics, Inc.                                | CUSIP: 019770106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10383 | NS      | $15159.18     | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Guardant Health, Inc.                      | Guardant Health, Inc.                                      | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               | CORP              | US        |      5695 | NS      | $617451.90    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Twist Bioscience Corp.                     | Twist Bioscience Corp.                                     | CUSIP: 90184D100<br>LEI: 549300T23BL59LCOH584 | Long             | EC               | CORP              | US        |      2743 | NS      | $87803.43     | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| Moderna, Inc.                              | Moderna, Inc.                                              | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |     17835 | NS      | $463353.30    | 0.78%             |  |  |  | No            |                  1 | On Loan: —       |
| Harrow, Inc.                               | Harrow, Inc.                                               | CUSIP: 415858109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1647 | NS      | $68811.66     | 0.12%             |  |  |  | No            |                  1 | On Loan: —       |
| Alector, Inc.                              | Alector, Inc.                                              | CUSIP: 014442107<br>LEI: 549300Z8RQOIY1JMHC25 | Long             | EC               | CORP              | US        |      4690 | NS      | $6237.70      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CorMedix Inc.                              | CorMedix Inc.                                              | CUSIP: 21900C308<br>LEI: 5299006YIA3L0MBW8358 | Long             | EC               | CORP              | US        |      3425 | NS      | $33599.25     | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| BioCryst Pharmaceuticals, Inc.             | BioCryst Pharmaceuticals, Inc.                             | CUSIP: 09058V103<br>LEI: 549300Z0INP1Z5NP6J59 | Long             | EC               | CORP              | US        |      9417 | NS      | $67614.06     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Geron Corp.                                | Geron Corp.                                                | CUSIP: 374163103<br>LEI: 549300T282D7Z2YESL90 | Long             | EC               | CORP              | US        |     28164 | NS      | $33233.52     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Trevi Therapeutics, Inc.                   | Trevi Therapeutics, Inc.                                   | CUSIP: 89532M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5500 | NS      | $72545.00     | 0.12%             |  |  |  | No            |                  1 | On Loan: —       |
| Novavax, Inc.                              | Novavax, Inc.                                              | CUSIP: 670002401<br>LEI: 529900J4GJHPEPQ23205 | Long             | EC               | CORP              | US        |      7278 | NS      | $51309.90     | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Applied Therapeutics, Inc.                 | Applied Therapeutics, Inc.                                 | CUSIP: 03828A101<br>LEI: 549300KL3IJPHZM2GR04 | Long             | EC               | CORP              | US        |      6687 | NS      | $1738.62      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Genmab A/S                                 | Genmab A/S, ADR                                            | CUSIP: 372303206<br>LEI: 529900MTJPDPE4MHJ122 | Long             | EC               | CORP              | DK        |      1957 | NS      | $63328.52     | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| Illumina, Inc.                             | Illumina, Inc.                                             | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               | CORP              | US        |      7028 | NS      | $923830.60    | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Alnylam Pharmaceuticals, Inc.              | Alnylam Pharmaceuticals, Inc.                              | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |      5970 | NS      | $2693843.10   | 4.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics, Inc.                | Halozyme Therapeutics, Inc.                                | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |      5372 | NS      | $383560.80    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEAYA Biosciences, Inc.                   | IDEAYA Biosciences, Inc.                                   | CUSIP: 45166A102<br>LEI: 549300ULW08F62IJML11 | Long             | EC               | CORP              | US        |      3984 | NS      | $141910.08    | 0.24%             |  |  |  | No            |                  1 | On Loan: —       |
| Bicycle Therapeutics PLC                   | Bicycle Therapeutics PLC, ADR                              | CUSIP: 088786108<br>LEI: 213800XKUI6R7GKC3E43 | Long             | EC               | CORP              | GB        |      2077 | NS      | $15535.96     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Stoke Therapeutics, Inc.                   | Stoke Therapeutics, Inc.                                   | CUSIP: 86150R107<br>LEI: 549300RD25SS2DIJHJ67 | Long             | EC               | CORP              | US        |      2488 | NS      | $76904.08     | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| Personalis, Inc.                           | Personalis, Inc.                                           | CUSIP: 71535D106<br>LEI: 549300EZ2NYFK7H0US48 | Long             | EC               | CORP              | US        |      4183 | NS      | $44883.59     | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Akero Therapeutics, Inc.                   | Akero Therapeutics, Inc.                                   | CUSIP: 00973Y108<br>LEI: 549300SI3KG74LBE2955 | Long             | EC               | CORP              | US        |      3668 | NS      | $199392.48    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Adaptive Biotechnologies Corp.             | Adaptive Biotechnologies Corp.                             | CUSIP: 00650F109<br>LEI: 549300ZTF7OT1FW66Q96 | Long             | EC               | CORP              | US        |      6978 | NS      | $137187.48    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| BridgeBio Pharma, Inc.                     | BridgeBio Pharma, Inc.                                     | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               | CORP              | US        |      8775 | NS      | $631887.75    | 1.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Mirum Pharmaceuticals, Inc.                | Mirum Pharmaceuticals, Inc.                                | CUSIP: 604749101<br>LEI: 254900YZKR40F7F27K81 | Long             | EC               | CORP              | US        |      2290 | NS      | $167284.50    | 0.28%             |  |  |  | No            |                  1 | On Loan: —       |
| Castle Biosciences, Inc.                   | Castle Biosciences, Inc.                                   | CUSIP: 14843C105<br>LEI: 2549007M2Q4HLR1XD252 | Long             | EC               | CORP              | US        |      1371 | NS      | $54771.45     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| 10x Genomics, Inc.                         | 10x Genomics, Inc., Class A                                | CUSIP: 88025U109<br>LEI: 5493003Z6741WNLG7H43 | Long             | EC               | CORP              | US        |      5250 | NS      | $98752.50     | 0.17%             |  |  |  | No            |                  1 | On Loan: —       |
| Arcturus Therapeutics Holdings Inc.        | Arcturus Therapeutics Holdings Inc.                        | CUSIP: 03969T109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1273 | NS      | $8643.67      | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| BioNTech SE                                | BioNTech SE, ADR                                           | CUSIP: 09075V102<br>LEI: 894500UZJ5LG1F8J1U58 | Long             | EC               | CORP              | DE        |      4603 | NS      | $474799.45    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Vir Biotechnology, Inc.                    | Vir Biotechnology, Inc.                                    | CUSIP: 92764N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6499 | NS      | $41723.58     | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Phathom Pharmaceuticals, Inc.              | Phathom Pharmaceuticals, Inc.                              | CUSIP: 71722W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3290 | NS      | $51389.80     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc.                                 | Amgen Inc.                                                 | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |     13196 | NS      | $4558690.16   | 7.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Immunovant, Inc.                           | Immunovant, Inc.                                           | CUSIP: 45258J102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8018 | NS      | $193634.70    | 0.33%             |  |  |  | No            |                  1 | On Loan: —       |
| Beam Therapeutics Inc.                     | Beam Therapeutics Inc.                                     | CUSIP: 07373V105<br>LEI: 254900QL5GLNKGR8YH71 | Long             | EC               | CORP              | US        |      4595 | NS      | $116391.35    | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| Precigen, Inc.                             | Precigen, Inc.                                             | CUSIP: 74017N105<br>LEI: 549300XCWNQU35K64G19 | Long             | EC               | CORP              | US        |     13274 | NS      | $50839.42     | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Arcutis Biotherapeutics, Inc.              | Arcutis Biotherapeutics, Inc.                              | CUSIP: 03969K108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5434 | NS      | $166552.10    | 0.28%             |  |  |  | No            |                  1 | On Loan: —       |
| Revolution Medicines, Inc.                 | Revolution Medicines, Inc.                                 | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Long             | EC               | CORP              | US        |      8572 | NS      | $666558.72    | 1.12%             |  |  |  | No            |                  1 | On Loan: —       |
| Invesco Government & Agency Portfolio      | Invesco Government & Agency Portfolio, Institutional Class | CUSIP: 825252885<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |     32828 | NS      | $32827.67     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Keros Therapeutics, Inc.                   | Keros Therapeutics, Inc.                                   | CUSIP: 492327101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1881 | NS      | $32879.88     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ORIC Pharmaceuticals, Inc.                 | ORIC Pharmaceuticals, Inc.                                 | CUSIP: 68622P109<br>LEI: 54930033FJRNEYBW0L25 | Long             | EC               | CORP              | US        |      4407 | NS      | $52355.16     | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Invesco Private Government Fund            | Invesco Private Government Fund                            | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   3250546 | NS      | $3250545.83   | 5.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Larimar Therapeutics, Inc.                 | Larimar Therapeutics, Inc.                                 | CUSIP: 517125100<br>LEI: 529900NCBZHTTJV6HX73 | Long             | EC               | CORP              | US        |      3867 | NS      | $13689.18     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Legend Biotech Corp.                       | Legend Biotech Corp., ADR                                  | CUSIP: 52490G102<br>LEI: 254900EIUFZTW136H859 | Long             | EC               | CORP              | KY        |      3818 | NS      | $105796.78    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Pliant Therapeutics, Inc.                  | Pliant Therapeutics, Inc.                                  | CUSIP: 729139105<br>LEI: 5493002Q5LITR7VHZH02 | Long             | EC               | CORP              | US        |      2942 | NS      | $4736.62      | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Royalty Pharma PLC                         | Royalty Pharma PLC, Class A                                | CUSIP: G7709Q104<br>LEI: 549300FGFN7VOK8BZR03 | Long             | EC               | CORP              | GB        |     19759 | NS      | $790755.18    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Vaxcyte, Inc.                              | Vaxcyte, Inc.                                              | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Long             | EC               | CORP              | US        |      5953 | NS      | $295328.33    | 0.50%             |  |  |  | No            |                  1 | On Loan: —       |
| Nkarta, Inc.                               | Nkarta, Inc.                                               | CUSIP: 65487U108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3363 | NS      | $6356.07      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Relay Therapeutics, Inc.                   | Relay Therapeutics, Inc.                                   | CUSIP: 75943R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7885 | NS      | $62449.20     | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| Invesco Private Prime Fund                 | Invesco Private Prime Fund                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   8241366 | NS      | $8241365.67   | 13.86%            |  |  |  | No            |                  2 | On Loan: No      |
| Gilead Sciences, Inc.                      | Gilead Sciences, Inc.                                      | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     33569 | NS      | $4224322.96   | 7.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Annexon, Inc.                              | Annexon, Inc.                                              | CUSIP: 03589W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5193 | NS      | $23368.50     | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Nurix Therapeutics, Inc.                   | Nurix Therapeutics, Inc.                                   | CUSIP: 67080M103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3607 | NS      | $63771.76     | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| Sanofi                                     | Sanofi, ADR                                                | CUSIP: 80105N105<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |     12267 | NS      | $611877.96    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CureVac N.V.                               | CureVac N.V.                                               | CUSIP: N2451R105<br>LEI: 724500BUT8GAG9LMYN56 | Long             | EC               | CORP              | NL        |     10046 | NS      | $55152.54     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmony Biosciences Holdings, Inc.         | Harmony Biosciences Holdings, Inc.                         | CUSIP: 413197104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2609 | NS      | $92071.61     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Kymera Therapeutics, Inc.                  | Kymera Therapeutics, Inc.                                  | CUSIP: 501575104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3272 | NS      | $222103.36    | 0.37%             |  |  |  | No            |                  1 | On Loan: —       |
| Silence Therapeutics PLC                   | Silence Therapeutics PLC, ADR                              | CUSIP: 82686Q101<br>LEI: 213800SSURRJBX85SQ91 | Long             | EC               | CORP              | GB        |      2222 | NS      | $14976.28     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Dyne Therapeutics, Inc.                    | Dyne Therapeutics, Inc.                                    | CUSIP: 26818M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6564 | NS      | $143751.60    | 0.24%             |  |  |  | No            |                  1 | On Loan: —       |
| COMPASS Pathways PLC                       | COMPASS Pathways PLC, ADR                                  | CUSIP: 20451W101<br>LEI: 213800N7CUZIC6QSTZ31 | Long             | EC               | CORP              | GB        |      4292 | NS      | $23820.60     | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Taysha Gene Therapies Inc.                 | Taysha Gene Therapies Inc.                                 | CUSIP: 877619106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12329 | NS      | $58439.46     | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| C4 Therapeutics, Inc.                      | C4 Therapeutics, Inc.                                      | CUSIP: 12529R107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3366 | NS      | $9121.86      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Cogent Biosciences, Inc.                   | Cogent Biosciences, Inc.                                   | CUSIP: 19240Q201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6356 | NS      | $255638.32    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Tarsus Pharmaceuticals, Inc.               | Tarsus Pharmaceuticals, Inc.                               | CUSIP: 87650L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1935 | NS      | $154722.60    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Foghorn Therapeutics Inc.                  | Foghorn Therapeutics Inc.                                  | CUSIP: 344174107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2633 | NS      | $12506.75     | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Viatris Inc.                               | Viatris Inc.                                               | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |     53333 | NS      | $570129.77    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Maravai LifeSciences Holdings, Inc.        | Maravai LifeSciences Holdings, Inc., Class A               | CUSIP: 56600D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6812 | NS      | $24659.44     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Olema Pharmaceuticals, Inc.                | Olema Pharmaceuticals, Inc.                                | CUSIP: 68062P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3233 | NS      | $91558.56     | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| Travere Therapeutics, Inc.                 | Travere Therapeutics, Inc.                                 | CUSIP: 89422G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4091 | NS      | $144862.31    | 0.24%             |  |  |  | No            |                  1 | On Loan: —       |
| Atea Pharmaceuticals, Inc.                 | Atea Pharmaceuticals, Inc.                                 | CUSIP: 04683R106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3621 | NS      | $11225.10     | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Vertex Pharmaceuticals Inc.                | Vertex Pharmaceuticals Inc.                                | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      9689 | NS      | $4201247.29   | 7.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ARS Pharmaceuticals, Inc.                  | ARS Pharmaceuticals, Inc.                                  | CUSIP: 82835W108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4398 | NS      | $41956.92     | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| EyePoint Inc.                              | EyePoint Inc.                                              | CUSIP: 30233G209<br>LEI: 549300QE1RU34T50MR69 | Long             | EC               | CORP              | US        |      3055 | NS      | $45305.65     | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| 4D Molecular Therapeutics, Inc.            | 4D Molecular Therapeutics, Inc.                            | CUSIP: 35104E100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2193 | NS      | $25570.38     | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| AbCellera Biologics Inc.                   | AbCellera Biologics Inc.                                   | CUSIP: 00288U106<br>LEI: 9845000861BC95FF9F73 | Long             | EC               | CORP              | CA        |     13431 | NS      | $50097.63     | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Cullinan Therapeutics, Inc.                | Cullinan Therapeutics, Inc.                                | CUSIP: 230031106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2794 | NS      | $31767.78     | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Zevra Therapeutics, Inc.                   | Zevra Therapeutics, Inc.                                   | CUSIP: 488445206<br>LEI: 254900CU6T74V18Y1W18 | Long             | EC               | CORP              | US        |      2589 | NS      | $21825.27     | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Immunocore Holdings PLC                    | Immunocore Holdings PLC, ADR                               | CUSIP: 45258D105<br>LEI: 213800IUE3DFS84BVN18 | Long             | EC               | CORP              | GB        |      1795 | NS      | $70902.50     | 0.12%             |  |  |  | No            |                  1 | On Loan: —       |
| Sana Biotechnology, Inc.                   | Sana Biotechnology, Inc.                                   | CUSIP: 799566104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11998 | NS      | $51591.40     | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Terns Pharmaceuticals, Inc.                | Terns Pharmaceuticals, Inc.                                | CUSIP: 880881107<br>LEI: 254900S1ZDQMF4MYP709 | Long             | EC               | CORP              | US        |      4091 | NS      | $114998.01    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ImmunityBio, Inc.                          | ImmunityBio, Inc.                                          | CUSIP: 45256X103<br>LEI: 529900J9XLBR4HFL4B83 | Long             | EC               | CORP              | US        |     43231 | NS      | $102025.16    | 0.17%             |  |  |  | No            |                  1 | On Loan: —       |
| Design Therapeutics, Inc.                  | Design Therapeutics, Inc.                                  | CUSIP: 25056L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2675 | NS      | $25118.25     | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Edgewise Therapeutics, Inc.                | Edgewise Therapeutics, Inc.                                | CUSIP: 28036F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4762 | NS      | $124002.48    | 0.21%             |  |  |  | No            |                  1 | On Loan: —       |
| Biomea Fusion, Inc.                        | Biomea Fusion, Inc.                                        | CUSIP: 09077A106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1781 | NS      | $1941.29      | 0.00%             |  |  |  | No            |                  1 | On Loan: —       |
| Recursion Pharmaceuticals, Inc.            | Recursion Pharmaceuticals, Inc., Class A                   | CUSIP: 75629V104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19541 | NS      | $90474.83     | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| Omeros Corp.                               | Omeros Corp.                                               | CUSIP: 682143102<br>LEI: 549300CJWLXX2MXVVV71 | Long             | EC               | CORP              | US        |      3215 | NS      | $31153.35     | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| United Therapeutics Corp.                  | United Therapeutics Corp.                                  | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |      2062 | NS      | $1002132.00   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Vera Therapeutics, Inc.                    | Vera Therapeutics, Inc.                                    | CUSIP: 92337R101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2959 | NS      | $99866.25     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Day One Biopharmaceuticals, Inc.           | Day One Biopharmaceuticals, Inc.                           | CUSIP: 23954D109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4797 | NS      | $45523.53     | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Summit Therapeutics Inc.                   | Summit Therapeutics Inc.                                   | CUSIP: 86627T108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33966 | NS      | $607651.74    | 1.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Centessa Pharmaceuticals PLC               | Centessa Pharmaceuticals PLC, ADR                          | CUSIP: 152309100<br>LEI: 213800GIDAARDSKOI827 | Long             | EC               | CORP              | GB        |      4366 | NS      | $126744.98    | 0.21%             |  |  |  | No            |                  1 | On Loan: —       |
| Janux Therapeutics, Inc.                   | Janux Therapeutics, Inc.                                   | CUSIP: 47103J105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2786 | NS      | $94974.74     | 0.16%             |  |  |  | No            |                  1 | On Loan: —       |
| Monte Rosa Therapeutics, Inc.              | Monte Rosa Therapeutics, Inc.                              | CUSIP: 61225M102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2948 | NS      | $47669.16     | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Alpha Teknova, Inc.                        | Alpha Teknova, Inc.                                        | CUSIP: 02080L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2487 | NS      | $11639.16     | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Erasca, Inc.                               | Erasca, Inc.                                               | CUSIP: 29479A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13406 | NS      | $42497.02     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TScan Therapeutics, Inc.                   | TScan Therapeutics, Inc.                                   | CUSIP: 89854M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2466 | NS      | $2737.26      | 0.00%             |  |  |  | No            |                  1 | On Loan: —       |
| AbSci Corp.                                | AbSci Corp.                                                | CUSIP: 00091E109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7016 | NS      | $22240.72     | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Nuvalent, Inc.                             | Nuvalent, Inc., Class A                                    | CUSIP: 670703107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3050 | NS      | $333517.50    | 0.56%             |  |  |  | No            |                  1 | On Loan: —       |
| MaxCyte, Inc.                              | MaxCyte, Inc.                                              | CUSIP: 57777K106<br>LEI: 54930053YHXULRFCU991 | Long             | EC               | CORP              | US        |      5027 | NS      | $8847.52      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Climb Bio, Inc.                            | Climb Bio, Inc.                                            | CUSIP: 28658R106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3198 | NS      | $6044.22      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Tango Therapeutics Inc.                    | Tango Therapeutics Inc.                                    | CUSIP: 87583X109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5088 | NS      | $55510.08     | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Humacyte, Inc.                             | Humacyte, Inc.                                             | CUSIP: 44486Q103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7374 | NS      | $9954.90      | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Astria Therapeutics, Inc.                  | Astria Therapeutics, Inc.                                  | CUSIP: 04635X102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2662 | NS      | $33674.30     | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Tyra Biosciences, Inc.                     | Tyra Biosciences, Inc.                                     | CUSIP: 90240B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2476 | NS      | $55858.56     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Roivant Sciences Ltd.                      | Roivant Sciences Ltd.                                      | CUSIP: G76279101<br>LEI: 549300DL466NY5J6U724 | Long             | EC               | CORP              | BM        |     31284 | NS      | $651020.04    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Xeris Biopharma Holdings, Inc.             | Xeris Biopharma Holdings, Inc.                             | CUSIP: 98422E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7467 | NS      | $53613.06     | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Pyxis Oncology, Inc.                       | Pyxis Oncology, Inc.                                       | CUSIP: 747324101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2941 | NS      | $15263.79     | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Ironwood Pharmaceuticals, Inc.             | Ironwood Pharmaceuticals, Inc.                             | CUSIP: 46333X108<br>LEI: 549300PC8MR6QHH6P296 | Long             | EC               | CORP              | US        |      7650 | NS      | $26775.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Aura Biosciences, Inc.                     | Aura Biosciences, Inc.                                     | CUSIP: 05153U107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2943 | NS      | $19423.80     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Entrada Therapeutics, Inc.                 | Entrada Therapeutics, Inc.                                 | CUSIP: 29384C108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1797 | NS      | $18455.19     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Amylyx Pharmaceuticals, Inc.               | Amylyx Pharmaceuticals, Inc.                               | CUSIP: 03237H101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3983 | NS      | $59665.34     | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Arcellx, Inc.                              | Arcellx, Inc.                                              | CUSIP: 03940C100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2561 | NS      | $186210.31    | 0.31%             |  |  |  | No            |                  1 | On Loan: —       |
| Codexis, Inc.                              | Codexis, Inc.                                              | CUSIP: 192005106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3956 | NS      | $6843.88      | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Amicus Therapeutics, Inc.                  | Amicus Therapeutics, Inc.                                  | CUSIP: 03152W109<br>LEI: 549300MRD1SMUTNBPQ53 | Long             | EC               | CORP              | US        |     13996 | NS      | $138980.28    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelixis, Inc.                             | Exelixis, Inc.                                             | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |     12319 | NS      | $544130.23    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| PepGen Inc.                                | PepGen Inc.                                                | CUSIP: 713317105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1555 | NS      | $10014.20     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Alvotech                                   | Alvotech                                                   | CUSIP: L01800108<br>LEI: 222100DCZBOWV5DZ8372 | Long             | EC               | CORP              | LU        |     14209 | NS      | $72465.90     | 0.12%             |  |  |  | No            |                  1 | On Loan: —       |
| Mind Medicine (MindMed) Inc.               | Mind Medicine (MindMed) Inc.                               | CUSIP: 60255C885<br>LEI: 549300QY8KN1O6RPFJ13 | Long             | EC               | CORP              | CA        |      3579 | NS      | $45274.35     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Third Harmonic Bio, Inc.                   | Third Harmonic Bio, Inc., Class B                          | CUSIP: 88427A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1605 | NS      | $48.15        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Pacific Biosciences of California, Inc.    | Pacific Biosciences of California, Inc.                    | CUSIP: 69404D108<br>LEI: 529900F1BWRE1M0KZN89 | Long             | EC               | CORP              | US        |     14201 | NS      | $32946.32     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Zymeworks Inc.                             | Zymeworks Inc.                                             | CUSIP: 98985Y108<br>LEI: 894500AHOYAGYLYZJL67 | Long             | EC               | CORP              | US        |      3446 | NS      | $92042.66     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Prime Medicine, Inc.                       | Prime Medicine, Inc.                                       | CUSIP: 74168J101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7908 | NS      | $30208.56     | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Solid Biosciences Inc.                     | Solid Biosciences Inc.                                     | CUSIP: 83422E204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3659 | NS      | $19868.37     | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| OmniAb, Inc.                               | OmniAb, Inc.                                               | CUSIP: 68218J103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5791 | NS      | $10481.71     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| OmniAb, Inc.                               | OmniAb, Inc., Rts., 2027-11-02                             | CUSIP: 68218J202<br>LEI: 5493008K7TB0IKP37H79 | Long             | EC               | CORP              | US        |       125 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: —       |
| OmniAb, Inc.                               | OmniAb, Inc., Rts., expiring 2027-11-02                    | CUSIP: 68218J301<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       125 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Acrivon Therapeutics, Inc.                 | Acrivon Therapeutics, Inc.                                 | CUSIP: 004890109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1473 | NS      | $3476.28      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| NewAmsterdam Pharma Co. N.V.               | NewAmsterdam Pharma Co. N.V.                               | CUSIP: N62509109<br>LEI: 984500B6549TF6E14D36 | Long             | EC               | CORP              | NL        |      5184 | NS      | $214099.20    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Disc Medicine, Inc.                        | Disc Medicine, Inc.                                        | CUSIP: 254604101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1583 | NS      | $147788.88    | 0.25%             |  |  |  | No            |                  1 | On Loan: —       |
| Structure Therapeutics Inc.                | Structure Therapeutics Inc., ADR                           | CUSIP: 86366E106<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      2767 | NS      | $99086.27     | 0.17%             |  |  |  | No            |                  1 | On Loan: —       |
| Mineralys Therapeutics, Inc.               | Mineralys Therapeutics, Inc.                               | CUSIP: 603170101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3048 | NS      | $131429.76    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Enliven Therapeutics, Inc.                 | Enliven Therapeutics, Inc.                                 | CUSIP: 29337E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2669 | NS      | $57650.40     | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Indivior PLC                               | Indivior PLC                                               | CUSIP: G4766E116<br>LEI: 213800V3NCQTY7IED471 | Long             | EC               | CORP              | GB        |      5762 | NS      | $193603.20    | 0.33%             |  |  |  | No            |                  1 | On Loan: —       |
| Fortrea Holdings Inc.                      | Fortrea Holdings Inc.                                      | CUSIP: 34965K107<br>LEI: 5493000FIVFABOVCDU97 | Long             | EC               | CORP              | US        |      4027 | NS      | $51183.17     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacira Biosciences, Inc.                   | Pacira Biosciences, Inc.                                   | CUSIP: 695127100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2017 | NS      | $47540.69     | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Apogee Therapeutics, Inc.                  | Apogee Therapeutics, Inc.                                  | CUSIP: 03770N101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2088 | NS      | $150273.36    | 0.25%             |  |  |  | No            |                  1 | On Loan: —       |
| Spyre Therapeutics, Inc.                   | Spyre Therapeutics, Inc.                                   | CUSIP: 00773J202<br>LEI: 52990017AIJPRH3HQH40 | Long             | EC               | CORP              | US        |      2799 | NS      | $83970.00     | 0.14%             |  |  |  | No            |                  1 | On Loan: —       |
| Neumora Therapeutics, Inc.                 | Neumora Therapeutics, Inc.                                 | CUSIP: 640979100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7648 | NS      | $17131.52     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Lexeo Therapeutics, Inc.                   | Lexeo Therapeutics, Inc.                                   | CUSIP: 52886X107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2440 | NS      | $24058.40     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Praxis Precision Medicines, Inc.           | Praxis Precision Medicines, Inc.                           | CUSIP: 74006W207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       969 | NS      | $190369.74    | 0.32%             |  |  |  | No            |                  1 | On Loan: —       |
| Cartesian Therapeutics, Inc.               | Cartesian Therapeutics, Inc., Rts., 2050-12-31             | CUSIP: 816212112<br>LEI: 529900NMN0LACZOL7C43 | Long             | EC               | CORP              | US        |      2633 | NS      | $359.22       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Neurogene Inc.                             | Neurogene Inc.                                             | CUSIP: 64135M105<br>LEI: 529900A7VIY892SZVW73 | Long             | EC               | CORP              | US        |       665 | NS      | $14018.20     | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Mesoblast Ltd.                             | Mesoblast Ltd., ADR                                        | CUSIP: 590717401<br>LEI: 529900J5ALF3JG921927 | Long             | EC               | CORP              | AU        |      2156 | NS      | $37147.88     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CG Oncology, Inc.                          | CG Oncology, Inc.                                          | CUSIP: 156944100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3474 | NS      | $155774.16    | 0.26%             |  |  |  | No            |                  1 | On Loan: —       |
| ArriVent Biopharma, Inc.                   | ArriVent Biopharma, Inc.                                   | CUSIP: 04272N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1832 | NS      | $42026.08     | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Kyverna Therapeutics, Inc.                 | Kyverna Therapeutics, Inc.                                 | CUSIP: 501976104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2039 | NS      | $15639.13     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Tevogen Bio Holdings Inc.                  | Tevogen Bio Holdings Inc.                                  | CUSIP: 88165K101<br>LEI: 549300AC21G4NBK9D322 | Long             | EC               | CORP              | US        |      8689 | NS      | $3833.59      | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Alkermes PLC                               | Alkermes PLC                                               | CUSIP: G01767105<br>LEI: 549300YHRMYLL071E243 | Long             | EC               | CORP              | IE        |      7591 | NS      | $224541.78    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| LENZ Therapeutics, Inc.                    | LENZ Therapeutics, Inc.                                    | CUSIP: 52635N103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1341 | NS      | $40927.32     | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Q32 Bio Inc.                               | Q32 Bio Inc.                                               | CUSIP: 746964105<br>LEI: 549300RWKPJEFTM3K452 | Long             | EC               | CORP              | US        |       580 | NS      | $1270.20      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Cartesian Therapeutics, Inc.               | Cartesian Therapeutics, Inc.                               | CUSIP: 816212302<br>LEI: 529900NMN0LACZOL7C43 | Long             | EC               | CORP              | US        |      1225 | NS      | $9175.25      | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Avadel Pharmaceuticals PLC                 | Avadel Pharmaceuticals PLC                                 | CUSIP: G29687103<br>LEI: 549300E27PTSG2RHC762 | Long             | EC               | CORP              | IE        |      4379 | NS      | $94104.71     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Inhibrx Biosciences, Inc.                  | Inhibrx Biosciences, Inc.                                  | CUSIP: 45720N103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       674 | NS      | $56696.88     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Rapport Therapeutics, Inc.                 | Rapport Therapeutics, Inc.                                 | CUSIP: 75383L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1619 | NS      | $48100.49     | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Tempus AI, Inc.                            | Tempus AI, Inc.                                            | CUSIP: 88023B103<br>LEI: 2549009LA0KWRAGQBX50 | Long             | EC               | CORP              | US        |      7720 | NS      | $601619.60    | 1.01%             |  |  |  | No            |                  1 | On Loan: —       |
| GRAIL, Inc.                                | GRAIL, Inc.                                                | CUSIP: 384747101<br>LEI: 2549009XSNESW3VE8024 | Long             | EC               | CORP              | US        |      1650 | NS      | $182143.50    | 0.31%             |  |  |  | No            |                  1 | On Loan: —       |
| Tectonic Therapeutic, Inc.                 | Tectonic Therapeutic, Inc.                                 | CUSIP: 878972108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       873 | NS      | $18717.12     | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Rigel Pharmaceuticals, Inc.                | Rigel Pharmaceuticals, Inc.                                | CUSIP: 766559702<br>LEI: 529900KPTNUS5J8K9K66 | Long             | EC               | CORP              | US        |       840 | NS      | $42411.60     | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Kiniksa Pharmaceuticals International, PLC | Kiniksa Pharmaceuticals International, PLC                 | CUSIP: G52694109<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |      2003 | NS      | $85167.56     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Alumis Inc.                                | Alumis Inc.                                                | CUSIP: 022307102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4558 | NS      | $34959.86     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Artiva Biotherapeutics, Inc.               | Artiva Biotherapeutics, Inc.                               | CUSIP: 04317A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1159 | NS      | $4357.84      | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Oruka Therapeutics, Inc.                   | Oruka Therapeutics, Inc.                                   | CUSIP: 687604108<br>LEI: 529900TG7O4ESUDMGI54 | Long             | EC               | CORP              | US        |      1776 | NS      | $53457.60     | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Jazz Pharmaceuticals PLC                   | Jazz Pharmaceuticals PLC                                   | CUSIP: G50871105<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               | CORP              | IE        |      2786 | NS      | $491812.58    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| OnKure Therapeutics, Inc.                  | OnKure Therapeutics, Inc.                                  | CUSIP: 68277Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       606 | NS      | $1824.06      | 0.00%             |  |  |  | No            |                  1 | On Loan: —       |
| Supernus Pharmaceuticals, Inc.             | Supernus Pharmaceuticals, Inc.                             | CUSIP: 868459108<br>LEI: 549300GRM36VBKISYJ58 | Long             | EC               | CORP              | US        |      2558 | NS      | $116619.22    | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| Biogen Inc.                                | Biogen Inc.                                                | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |      6706 | NS      | $1221095.54   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Sarepta Therapeutics, Inc.                 | Sarepta Therapeutics, Inc.                                 | CUSIP: 803607100<br>LEI: 549300IKDPIED8J8IG21 | Long             | EC               | CORP              | US        |      4490 | NS      | $95816.60     | 0.16%             |  |  |  | No            |                  1 | On Loan: —       |
| Grifols, S.A.                              | Grifols, S.A., ADR                                         | CUSIP: 398438408<br>LEI: 959800HSSNXWRKBK4N60 | Long             | EC               | CORP              | ES        |      5432 | NS      | $48073.20     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BioMarin Pharmaceutical Inc.               | BioMarin Pharmaceutical Inc.                               | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |      8803 | NS      | $492351.79    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Amarin Corp. PLC                           | Amarin Corp. PLC, ADR                                      | CUSIP: 023111404<br>LEI: 5493009JFIGUFEVPK217 | Long             | EC               | CORP              | GB        |       954 | NS      | $15235.38     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Lyell Immunopharma, Inc.                   | Lyell Immunopharma, Inc.                                   | CUSIP: 55083R203<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       943 | NS      | $22632.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Mersana Therapeutics, Inc.                 | Mersana Therapeutics, Inc.                                 | CUSIP: 59045L205<br>LEI: 529900VWD5VDZ7PVOS22 | Long             | EC               | CORP              | US        |       227 | NS      | $6226.61      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Prothena Corp. PLC                         | Prothena Corp. PLC                                         | CUSIP: G72800108<br>LEI: 5299009ZXQ8NIIJ8OL30 | Long             | EC               | CORP              | IE        |      2554 | NS      | $27455.50     | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Insmed Inc.                                | Insmed Inc.                                                | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |      9682 | NS      | $2011629.14   | 3.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Savara Inc.                                | Savara Inc.                                                | CUSIP: 805111101<br>LEI: 5493002JO0WM3YMJXG33 | Long             | EC               | CORP              | US        |      8182 | NS      | $51464.78     | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Enanta Pharmaceuticals, Inc.               | Enanta Pharmaceuticals, Inc.                               | CUSIP: 29251M106<br>LEI: 529900SSN4DODDQSN594 | Long             | EC               | CORP              | US        |      1010 | NS      | $14261.20     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Therapeutics, Inc.                     | PTC Therapeutics, Inc.                                     | CUSIP: 69366J200<br>LEI: 549300UJLWOIWFDGB318 | Long             | EC               | CORP              | US        |      3635 | NS      | $312573.65    | 0.53%             |  |  |  | No            |                  1 | On Loan: —       |
| Cytokinetics, Inc.                         | Cytokinetics, Inc.                                         | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |      5475 | NS      | $373011.75    | 0.63%             |  |  |  | No            |                  1 | On Loan: —       |
| Esperion Therapeutics, Inc.                | Esperion Therapeutics, Inc.                                | CUSIP: 29664W105<br>LEI: 549300OFU56UKEWVUS92 | Long             | EC               | CORP              | US        |      9382 | NS      | $37621.82     | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| ANI Pharmaceuticals, Inc.                  | ANI Pharmaceuticals, Inc.                                  | CUSIP: 00182C103<br>LEI: 5493000T6CXTND40YH31 | Long             | EC               | CORP              | US        |       988 | NS      | $83831.80     | 0.14%             |  |  |  | No            |                  1 | On Loan: —       |
| Agios Pharmaceuticals, Inc.                | Agios Pharmaceuticals, Inc.                                | CUSIP: 00847X104<br>LEI: 529900ONJHY8EOGYT555 | Long             | EC               | CORP              | US        |      2629 | NS      | $76766.80     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanda Pharmaceuticals Inc.                 | Vanda Pharmaceuticals Inc.                                 | CUSIP: 921659108<br>LEI: 529900AY8VOOQBKJ0O70 | Long             | EC               | CORP              | US        |      2790 | NS      | $14954.40     | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Incyte Corp.                               | Incyte Corp.                                               | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Long             | EC               | CORP              | US        |      8968 | NS      | $936797.28    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Fate Therapeutics, Inc.                    | Fate Therapeutics, Inc.                                    | CUSIP: 31189P102<br>LEI: 549300L14Q4UHOODLA90 | Long             | EC               | CORP              | US        |      5422 | NS      | $6181.08      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MacroGenics, Inc.                          | MacroGenics, Inc.                                          | CUSIP: 556099109<br>LEI: 5493001KJQUA83L8MH79 | Long             | EC               | CORP              | US        |      2988 | NS      | $4571.64      | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Veracyte, Inc.                             | Veracyte, Inc.                                             | CUSIP: 92337F107<br>LEI: 529900ESWZRHXOW27Z37 | Long             | EC               | CORP              | US        |      3578 | NS      | $169382.52    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences, Inc.               | Neurocrine Biosciences, Inc.                               | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |      4553 | NS      | $692784.48    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Xencor, Inc.                               | Xencor, Inc.                                               | CUSIP: 98401F105<br>LEI: 549300V5IF65437JKG30 | Long             | EC               | CORP              | US        |      3372 | NS      | $58403.04     | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Ultragenyx Pharmaceutical Inc.             | Ultragenyx Pharmaceutical Inc.                             | CUSIP: 90400D108<br>LEI: 529900EV44GVDN1DCX77 | Long             | EC               | CORP              | US        |      4381 | NS      | $152239.75    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| uniQure N.V.                               | uniQure N.V.                                               | CUSIP: N90064101<br>LEI: 724500RPCTZLFYJZ3S98 | Long             | EC               | CORP              | NL        |      2489 | NS      | $68472.39     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Phibro Animal Health Corp.                 | Phibro Animal Health Corp., Class A                        | CUSIP: 71742Q106<br>LEI: 549300U24SP4AF2JUX52 | Long             | EC               | CORP              | US        |       969 | NS      | $40581.72     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Theravance Biopharma Inc.                  | Theravance Biopharma Inc.                                  | CUSIP: G8807B106<br>LEI: 5493007VTSXP4Z6MIW52 | Long             | EC               | CORP              | KY        |      2371 | NS      | $48131.30     | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Regeneron Pharmaceuticals, Inc.            | Regeneron Pharmaceuticals, Inc.                            | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |      4750 | NS      | $3705902.50   | 6.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Ligand Pharmaceuticals Inc.                | Ligand Pharmaceuticals Inc.                                | CUSIP: 53220K504<br>LEI: 5493008K7TB0IKP37H79 | Long             | EC               | CORP              | US        |       878 | NS      | $178392.04    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Ardelyx, Inc.                              | Ardelyx, Inc.                                              | CUSIP: 039697107<br>LEI: 549300F542QR4SXHCY32 | Long             | EC               | CORP              | US        |     10816 | NS      | $62732.80     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphastar Pharmaceuticals, Inc.            | Amphastar Pharmaceuticals, Inc.                            | CUSIP: 03209R103<br>LEI: 54930055TH0ZLSAQMJ38 | Long             | EC               | CORP              | US        |      2074 | NS      | $57449.80     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Ocular Therapeutix, Inc.                   | Ocular Therapeutix, Inc.                                   | CUSIP: 67576A100<br>LEI: 529900ABAWFXOHSIHG03 | Long             | EC               | CORP              | US        |      7877 | NS      | $95705.55     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Aurinia Pharmaceuticals Inc.               | Aurinia Pharmaceuticals Inc.                               | CUSIP: 05156V102<br>LEI: 5299008YP2BW4570ML28 | Long             | EC               | CORP              | CA        |      5982 | NS      | $96429.84     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynavax Technologies Corp.                 | Dynavax Technologies Corp.                                 | CUSIP: 268158201<br>LEI: 549300T5URIXWDILX594 | Long             | EC               | CORP              | US        |      5296 | NS      | $60215.52     | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Xenon Pharmaceuticals Inc.                 | Xenon Pharmaceuticals Inc.                                 | CUSIP: 98420N105<br>LEI: 549300XV44Q9Z1MIPQ03 | Long             | EC               | CORP              | CA        |      3561 | NS      | $159247.92    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ADMA Biologics, Inc.                       | ADMA Biologics, Inc.                                       | CUSIP: 000899104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10996 | NS      | $210903.28    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Vericel Corp.                              | Vericel Corp.                                              | CUSIP: 92346J108<br>LEI: 54930076YM3PLTDR4B91 | Long             | EC               | CORP              | US        |      2346 | NS      | $94426.50     | 0.16%             |  |  |  | No            |                  1 | On Loan: —       |
| Acadia Pharmaceuticals Inc.                | Acadia Pharmaceuticals Inc.                                | CUSIP: 004225108<br>LEI: 529900O3044NO0PEA039 | Long             | EC               | CORP              | US        |      7781 | NS      | $194836.24    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Ascendis Pharma A/S                        | Ascendis Pharma A/S, ADR                                   | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             | EC               | CORP              | DK        |      2790 | NS      | $592400.70    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Avidity Biosciences, Inc.                  | Avidity Biosciences, Inc.                                  | CUSIP: 05370A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5875 | NS      | $421237.50    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| SIGA Technologies, Inc.                    | SIGA Technologies, Inc.                                    | CUSIP: 826917106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3383 | NS      | $20500.98     | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Galapagos N.V.                             | Galapagos N.V., ADR                                        | CUSIP: 36315X101<br>LEI: 549300QKJ78IY0IOV655 | Long             | EC               | CORP              | BE        |       620 | NS      | $19418.40     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Lexicon Pharmaceuticals, Inc.              | Lexicon Pharmaceuticals, Inc.                              | CUSIP: 528872302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17214 | NS      | $24616.02     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Collegium Pharmaceutical, Inc.             | Collegium Pharmaceutical, Inc.                             | CUSIP: 19459J104<br>LEI: 54930049FXZMTLW8D496 | Long             | EC               | CORP              | US        |      1411 | NS      | $65865.48     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Arbutus Biopharma Corp.                    | Arbutus Biopharma Corp.                                    | CUSIP: 03879J100<br>LEI: 25490064CESONAUIAS23 | Long             | EC               | CORP              | CA        |      8449 | NS      | $37260.09     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENXBIO Inc.                             | REGENXBIO Inc.                                             | CUSIP: 75901B107<br>LEI: 549300EOES47LATSET33 | Long             | EC               | CORP              | US        |      2377 | NS      | $31828.03     | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |

### Signature

**Date Signed:** 2025-12-30

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

**Signature:** Adrien Deberghes

**Name of Signer:** Adrien Deberghes

**Title:** Vice President