# EDGAR Filing Document

**Accession Number:** 0001378872
**File Stem:** 0001752724-25-180476
**Filing Date:** 2025-7
**Character Count:** 286287
**Document Hash:** 934623e2c6df60206d64ab526daf7f22
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-180476.hdr.sgml**: 20250728

**ACCESSION NUMBER**: 0001752724-25-180476

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250728

**DATE AS OF CHANGE**: 20250728

**PERIOD START**: 20250831

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21977
- **FILM NUMBER:** 251154363

**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 S&P MidCap 400 Revenue ETF (Series ID: S000064595)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000209112 | Invesco S&P MidCap 400 Revenue ETF | RWK             |

## Nport-Ex

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

**Invesco S&P 500 Revenue ETF (RWL)**

May 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.90%** | **Common Stocks & Other Equity Interests-99.90%** | **Common Stocks & Other Equity Interests-99.90%** |
| **Communication Services-7.53%** | **Communication Services-7.53%** | **Communication Services-7.53%** |
| Alphabet, Inc., Class A | 313557 | &nbsp;&nbsp; $53850279 |
| Alphabet, Inc., Class C | 310043 | &nbsp;&nbsp; 53590933 |
| AT&T, Inc. | 1425414 | &nbsp;&nbsp; 39626509 |
| Charter Communications, Inc., Class A<sup>(b)</sup> | 47151 | &nbsp;&nbsp; 18684527 |
| Comcast Corp., Class A | 1052358 | &nbsp;&nbsp; 36380016 |
| Electronic Arts, Inc. | 16050 | &nbsp;&nbsp; 2307669 |
| Fox Corp., Class A<sup>(c)</sup> | 43307 | &nbsp;&nbsp; 2379287 |
| Fox Corp., Class B | 46728 | &nbsp;&nbsp; 2349484 |
| Interpublic Group of Cos., Inc. (The) | 121009 | &nbsp;&nbsp; 2899376 |
| Live Nation Entertainment, Inc.<sup>(b)</sup> | 56225 | &nbsp;&nbsp; 7713508 |
| Match Group, Inc. | 33723 | &nbsp;&nbsp; 1009667 |
| Meta Platforms, Inc., Class A | 79537 | &nbsp;&nbsp; 51499412 |
| Netflix, Inc.<sup>(b)</sup> | 12656 | &nbsp;&nbsp; 15278703 |
| News Corp., Class A | 52028 | &nbsp;&nbsp; 1469271 |
| News Corp., Class B<sup>(c)</sup> | 45360 | &nbsp;&nbsp; 1484179 |
| Omnicom Group, Inc. | 58520 | &nbsp;&nbsp; 4297709 |
| Paramount Global, Class B<sup>(c)</sup> | 754704 | &nbsp;&nbsp; 9131918 |
| Take-Two Interactive Software, Inc.<sup>(b)</sup> | 7955 | &nbsp;&nbsp; 1800057 |
| TKO Group Holdings, Inc. | 5719 | &nbsp;&nbsp; 902515 |
| T-Mobile US, Inc. | 95320 | &nbsp;&nbsp; 23086504 |
| Verizon Communications, Inc. | 948366 | &nbsp;&nbsp; 41690169 |
| Walt Disney Co. (The) | 279082 | &nbsp;&nbsp; 31547429 |
| Warner Bros. Discovery, Inc.<sup>(b)</sup> | 1129818 | &nbsp;&nbsp; 11264285 |
|  |  | &nbsp;&nbsp; 414243406 |
| **Consumer Discretionary-12.06%** | **Consumer Discretionary-12.06%** | **Consumer Discretionary-12.06%** |
| Airbnb, Inc., Class A<sup>(b)</sup> | 26174 | &nbsp;&nbsp; 3376446 |
| Amazon.com, Inc.<sup>(b)</sup> | 960765 | &nbsp;&nbsp; 196966433 |
| Aptiv PLC (Jersey)<sup>(b)</sup> | 92214 | &nbsp;&nbsp; 6160817 |
| AutoZone, Inc.<sup>(b)</sup> | 1597 | &nbsp;&nbsp; 5961665 |
| Best Buy Co., Inc. | 171246 | &nbsp;&nbsp; 11350185 |
| Booking Holdings, Inc. | 1634 | &nbsp;&nbsp; 9017932 |
| &nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc., (Acquired <br> 01/18/2022 - 05/30/2025; <br> Cost $4,652,893)<sup>(b)(c)(d)</sup><br>| 122773 | &nbsp;&nbsp; 3300138 |
| CarMax, Inc.<sup>(b)</sup> | 106841 | &nbsp;&nbsp; 6886971 |
| Carnival Corp.<sup>(b)</sup> | 383860 | &nbsp;&nbsp; 8913229 |
| Chipotle Mexican Grill, Inc.<sup>(b)(c)</sup> | 67449 | &nbsp;&nbsp; 3377846 |
| D.R. Horton, Inc. | 85486 | &nbsp;&nbsp; 10092477 |
| Darden Restaurants, Inc. | 18167 | &nbsp;&nbsp; 3891553 |
| Deckers Outdoor Corp.<sup>(b)</sup> | 12124 | &nbsp;&nbsp; 1279324 |
| Domino's Pizza, Inc. | 3229 | &nbsp;&nbsp; 1529965 |
| DoorDash, Inc., Class A<sup>(b)</sup> | 17060 | &nbsp;&nbsp; 3559569 |
| eBay, Inc. | 47379 | &nbsp;&nbsp; 3466721 |
| Expedia Group, Inc. | 25179 | &nbsp;&nbsp; 4198598 |
| Ford Motor Co. | 5778366 | &nbsp;&nbsp; 59979439 |
| Garmin Ltd. | 8714 | &nbsp;&nbsp; 1768681 |
| General Motors Co. | 1172242 | &nbsp;&nbsp; 58154926 |
| Genuine Parts Co. | 57708 | &nbsp;&nbsp; 7301216 |
| Hasbro, Inc.<sup>(c)</sup> | 19946 | &nbsp;&nbsp; 1330598 |
| Hilton Worldwide Holdings, Inc. | 14625 | &nbsp;&nbsp; 3633435 |
| Home Depot, Inc. (The) | 131034 | &nbsp;&nbsp; 48258512 |
| Las Vegas Sands Corp. | 78763 | &nbsp;&nbsp; 3241885 |
| Lennar Corp., Class A | 80124 | &nbsp;&nbsp; 8499554 |
| LKQ Corp.<sup>(c)</sup> | 100662 | &nbsp;&nbsp; 4073791 |
| Lowe's Cos., Inc. | 109675 | &nbsp;&nbsp; 24756938 |
| lululemon athletica, inc.<sup>(b)</sup> | 9675 | &nbsp;&nbsp; 3063782 |
| Marriott International, Inc., Class A | 30707 | &nbsp;&nbsp; 8101428 |
| McDonald's Corp. | 25844 | &nbsp;&nbsp; 8111139 |
| MGM Resorts International<sup>(b)(c)</sup> | 165970 | &nbsp;&nbsp; 5252951 |
| Mohawk Industries, Inc.<sup>(b)</sup> | 28502 | &nbsp;&nbsp; 2867586 |
| NIKE, Inc., Class B | 199682 | &nbsp;&nbsp; 12098732 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Consumer Discretionary-(continued)** | **Consumer Discretionary-(continued)** | **Consumer Discretionary-(continued)** |
| Norwegian Cruise Line Holdings Ltd.<sup>(b)</sup> | 148756 | &nbsp;&nbsp; $2625543 |
| NVR, Inc.<sup>(b)</sup> | 421 | &nbsp;&nbsp; 2995807 |
| O'Reilly Automotive, Inc.<sup>(b)</sup> | 3832 | &nbsp;&nbsp; 5240260 |
| Pool Corp.<sup>(c)</sup> | 4736 | &nbsp;&nbsp; 1423594 |
| PulteGroup, Inc. | 51746 | &nbsp;&nbsp; 5072660 |
| Ralph Lauren Corp. | 9184 | &nbsp;&nbsp; 2542223 |
| Ross Stores, Inc. | 49840 | &nbsp;&nbsp; 6982086 |
| Royal Caribbean Cruises Ltd. | 23730 | &nbsp;&nbsp; 6097898 |
| Starbucks Corp. | 109669 | &nbsp;&nbsp; 9206713 |
| Tapestry, Inc. | 28208 | &nbsp;&nbsp; 2215738 |
| Tesla, Inc.<sup>(b)</sup> | 117995 | &nbsp;&nbsp; 40880548 |
| TJX Cos., Inc. (The) | 146250 | &nbsp;&nbsp; 18559125 |
| Tractor Supply Co.<sup>(c)</sup> | 84816 | &nbsp;&nbsp; 4105094 |
| Ulta Beauty, Inc.<sup>(b)</sup> | 10323 | &nbsp;&nbsp; 4866882 |
| Williams-Sonoma, Inc. | 12853 | &nbsp;&nbsp; 2079101 |
| Wynn Resorts Ltd.<sup>(c)</sup> | 24787 | &nbsp;&nbsp; 2244215 |
| Yum! Brands, Inc. | 14617 | &nbsp;&nbsp; 2103971 |
|  |  | &nbsp;&nbsp; 663065920 |
| **Consumer Staples-13.21%** | **Consumer Staples-13.21%** | **Consumer Staples-13.21%** |
| Altria Group, Inc. | 105473 | &nbsp;&nbsp; 6392718 |
| Archer-Daniels-Midland Co. | 543544 | &nbsp;&nbsp; 26236869 |
| Brown-Forman Corp., Class B | 35137 | &nbsp;&nbsp; 1171468 |
| Bunge Global S.A. | 217380 | &nbsp;&nbsp; 16988247 |
| Church & Dwight Co., Inc. | 16744 | &nbsp;&nbsp; 1646103 |
| Clorox Co. (The) | 14526 | &nbsp;&nbsp; 1915689 |
| Coca-Cola Co. (The) | 200169 | &nbsp;&nbsp; 14432185 |
| Colgate-Palmolive Co. | 66004 | &nbsp;&nbsp; 6134412 |
| Conagra Brands, Inc. | 137360 | &nbsp;&nbsp; 3144170 |
| Constellation Brands, Inc., Class A<sup>(c)</sup> | 16565 | &nbsp;&nbsp; 2953374 |
| Costco Wholesale Corp. | 85330 | &nbsp;&nbsp; 88758559 |
| Dollar General Corp.<sup>(c)</sup> | 160623 | &nbsp;&nbsp; 15620587 |
| Dollar Tree, Inc.<sup>(b)</sup> | 150986 | &nbsp;&nbsp; 13627996 |
| Estee Lauder Cos., Inc. (The), Class A | 67897 | &nbsp;&nbsp; 4545025 |
| General Mills, Inc. | 98876 | &nbsp;&nbsp; 5365012 |
| Hershey Co. (The)<sup>(c)</sup> | 19555 | &nbsp;&nbsp; 3142293 |
| Hormel Foods Corp. | 121656 | &nbsp;&nbsp; 3732406 |
| J.M. Smucker Co. (The) | 23631 | &nbsp;&nbsp; 2661087 |
| Kellanova | 46204 | &nbsp;&nbsp; 3817836 |
| Kenvue, Inc. | 199916 | &nbsp;&nbsp; 4771995 |
| Keurig Dr Pepper, Inc. | 139590 | &nbsp;&nbsp; 4699995 |
| Kimberly-Clark Corp. | 42792 | &nbsp;&nbsp; 6151778 |
| Kraft Heinz Co. (The) | 254523 | &nbsp;&nbsp; 6803400 |
| Kroger Co. (The) | 678299 | &nbsp;&nbsp; 46280341 |
| Lamb Weston Holdings, Inc. | 36792 | &nbsp;&nbsp; 2052258 |
| McCormick & Co., Inc. | 24572 | &nbsp;&nbsp; 1787122 |
| Molson Coors Beverage Co., Class B | 58439 | &nbsp;&nbsp; 3131746 |
| Mondelez International, Inc., Class A | 168094 | &nbsp;&nbsp; 11344664 |
| Monster Beverage Corp.<sup>(b)</sup> | 41108 | &nbsp;&nbsp; 2628857 |
| PepsiCo, Inc. | 185542 | &nbsp;&nbsp; 24389496 |
| Philip Morris International, Inc. | 74729 | &nbsp;&nbsp; 13495310 |
| Procter & Gamble Co. (The) | 149942 | &nbsp;&nbsp; 25473646 |
| Sysco Corp. | 327466 | &nbsp;&nbsp; 23905018 |
| Target Corp.<sup>(c)</sup> | 297303 | &nbsp;&nbsp; 27949455 |
| The Campbell's Company<sup>(c)</sup> | 78264 | &nbsp;&nbsp; 2664107 |
| Tyson Foods, Inc., Class A | 266872 | &nbsp;&nbsp; 14987531 |
| Walgreens Boots Alliance, Inc. | 4023883 | &nbsp;&nbsp; 45268684 |
| Walmart, Inc. | 2393877 | &nbsp;&nbsp; 236323537 |
|  |  | &nbsp;&nbsp; 726394976 |
| **Energy-6.56%** | **Energy-6.56%** | **Energy-6.56%** |
| APA Corp.<sup>(c)</sup> | 147859 | &nbsp;&nbsp; 2515082 |
| Baker Hughes Co., Class A | 195488 | &nbsp;&nbsp; 7242830 |

---

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

------

**Invesco S&P 500 Revenue ETF (RWL)—(continued)**

May 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Energy-(continued)** | **Energy-(continued)** | **Energy-(continued)** |
| Chevron Corp. | 379655 | &nbsp;&nbsp; $51898838 |
| ConocoPhillips | 167224 | &nbsp;&nbsp; 14272568 |
| Coterra Energy, Inc. | 59793 | &nbsp;&nbsp; 1453568 |
| Devon Energy Corp. | 133625 | &nbsp;&nbsp; 4043492 |
| Diamondback Energy, Inc. | 22497 | &nbsp;&nbsp; 3026971 |
| EOG Resources, Inc. | 56381 | &nbsp;&nbsp; 6121285 |
| EQT Corp. | 31868 | &nbsp;&nbsp; 1756883 |
| Expand Energy Corp. | 12613 | &nbsp;&nbsp; 1464748 |
| Exxon Mobil Corp. | 932960 | &nbsp;&nbsp; 95441808 |
| Halliburton Co. | 277025 | &nbsp;&nbsp; 5426920 |
| Hess Corp. | 26690 | &nbsp;&nbsp; 3528151 |
| Kinder Morgan, Inc. | 169595 | &nbsp;&nbsp; 4755444 |
| Marathon Petroleum Corp. | 302666 | &nbsp;&nbsp; 48650533 |
| Occidental Petroleum Corp. | 175340 | &nbsp;&nbsp; 7150365 |
| ONEOK, Inc. | 69638 | &nbsp;&nbsp; 5629536 |
| Phillips 66 | 345935 | &nbsp;&nbsp; 39256704 |
| Schlumberger N.V. | 270472 | &nbsp;&nbsp; 8939100 |
| Targa Resources Corp. | 26506 | &nbsp;&nbsp; 4186093 |
| Texas Pacific Land Corp.<sup>(c)</sup> | 149 | &nbsp;&nbsp; 165990 |
| Valero Energy Corp. | 310683 | &nbsp;&nbsp; 40068787 |
| Williams Cos., Inc. (The) | 56971 | &nbsp;&nbsp; 3447315 |
|  |  | &nbsp;&nbsp; 360443011 |
| **Financials-16.21%** | **Financials-16.21%** | **Financials-16.21%** |
| Aflac, Inc. | 53962 | &nbsp;&nbsp; 5587225 |
| Allstate Corp. (The) | 96774 | &nbsp;&nbsp; 20309959 |
| American Express Co. | 85162 | &nbsp;&nbsp; 25041886 |
| American International Group, Inc. | 124714 | &nbsp;&nbsp; 10555793 |
| Ameriprise Financial, Inc. | 11222 | &nbsp;&nbsp; 5714691 |
| Aon PLC, Class A | 11857 | &nbsp;&nbsp; 4411753 |
| Apollo Global Management, Inc. | 58240 | &nbsp;&nbsp; 7611386 |
| Arch Capital Group Ltd. | 56430 | &nbsp;&nbsp; 5363107 |
| Arthur J. Gallagher & Co. | 10514 | &nbsp;&nbsp; 3652984 |
| Assurant, Inc. | 17574 | &nbsp;&nbsp; 3567171 |
| Bank of America Corp. | 1493003 | &nbsp;&nbsp; 65886222 |
| Bank of New York Mellon Corp. (The) | 147359 | &nbsp;&nbsp; 13057481 |
| Berkshire Hathaway, Inc., Class B<sup>(b)</sup> | 224324 | &nbsp;&nbsp; 113050323 |
| BlackRock, Inc. | 6867 | &nbsp;&nbsp; 6728905 |
| Blackstone, Inc., Class A | 26437 | &nbsp;&nbsp; 3668398 |
| Brown & Brown, Inc. | 12263 | &nbsp;&nbsp; 1384493 |
| Capital One Financial Corp. | 93683 | &nbsp;&nbsp; 17720139 |
| Cboe Global Markets, Inc. | 5889 | &nbsp;&nbsp; 1349288 |
| Charles Schwab Corp. (The) | 104804 | &nbsp;&nbsp; 9258385 |
| Chubb Ltd. | 58900 | &nbsp;&nbsp; 17505080 |
| Cincinnati Financial Corp. | 24159 | &nbsp;&nbsp; 3643660 |
| Citigroup, Inc. | 753229 | &nbsp;&nbsp; 56733208 |
| Citizens Financial Group, Inc. | 91775 | &nbsp;&nbsp; 3703121 |
| CME Group, Inc., Class A | 7099 | &nbsp;&nbsp; 2051611 |
| Corpay, Inc.<sup>(b)</sup> | 3587 | &nbsp;&nbsp; 1166170 |
| Erie Indemnity Co., Class A<sup>(c)</sup> | 2679 | &nbsp;&nbsp; 960448 |
| Everest Group Ltd. | 14845 | &nbsp;&nbsp; 5154036 |
| FactSet Research Systems, Inc. | 1575 | &nbsp;&nbsp; 721760 |
| Fidelity National Information Services, Inc. | 44313 | &nbsp;&nbsp; 3527758 |
| Fifth Third Bancorp | 107554 | &nbsp;&nbsp; 4107487 |
| Fiserv, Inc.<sup>(b)</sup> | 28856 | &nbsp;&nbsp; 4697468 |
| Franklin Resources, Inc.<sup>(c)</sup> | 134810 | &nbsp;&nbsp; 2917288 |
| Global Payments, Inc. | 32466 | &nbsp;&nbsp; 2454754 |
| Globe Life, Inc. | 14046 | &nbsp;&nbsp; 1711786 |
| Goldman Sachs Group, Inc. (The) | 70633 | &nbsp;&nbsp; 42411585 |
| Hartford Insurance Group, Inc. (The) | 68728 | &nbsp;&nbsp; 8923644 |
| Huntington Bancshares, Inc. | 243162 | &nbsp;&nbsp; 3800622 |
| Intercontinental Exchange, Inc. | 19565 | &nbsp;&nbsp; 3517787 |
| Invesco Ltd.<sup>(e)</sup> | 117571 | &nbsp;&nbsp; 1700077 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Financials-(continued)** | **Financials-(continued)** | **Financials-(continued)** |
| Jack Henry & Associates, Inc. | 3937 | &nbsp;&nbsp; $713266 |
| JPMorgan Chase & Co. | 371544 | &nbsp;&nbsp; 98087616 |
| KeyCorp | 176898 | &nbsp;&nbsp; 2805602 |
| KKR & Co., Inc., Class A | 61002 | &nbsp;&nbsp; 7409303 |
| Loews Corp. | 62245 | &nbsp;&nbsp; 5557856 |
| M&T Bank Corp. | 23265 | &nbsp;&nbsp; 4249120 |
| MarketAxess Holdings, Inc. | 1224 | &nbsp;&nbsp; 264886 |
| Marsh & McLennan Cos., Inc. | 31809 | &nbsp;&nbsp; 7432491 |
| Mastercard, Inc., Class A | 16035 | &nbsp;&nbsp; 9390096 |
| MetLife, Inc. | 268327 | &nbsp;&nbsp; 21085136 |
| Moody's Corp. | 4765 | &nbsp;&nbsp; 2283960 |
| Morgan Stanley | 271974 | &nbsp;&nbsp; 34820831 |
| MSCI, Inc. | 1590 | &nbsp;&nbsp; 896792 |
| Nasdaq, Inc. | 30252 | &nbsp;&nbsp; 2527252 |
| Northern Trust Corp. | 47032 | &nbsp;&nbsp; 5020196 |
| PayPal Holdings, Inc.<sup>(b)</sup> | 138879 | &nbsp;&nbsp; 9760416 |
| PNC Financial Services Group, Inc. (The) | 59436 | &nbsp;&nbsp; 10330571 |
| Principal Financial Group, Inc. | 58668 | &nbsp;&nbsp; 4569651 |
| Progressive Corp. (The) | 81242 | &nbsp;&nbsp; 23148283 |
| Prudential Financial, Inc. | 198625 | &nbsp;&nbsp; 20635151 |
| Raymond James Financial, Inc. | 32482 | &nbsp;&nbsp; 4774204 |
| Regions Financial Corp. | 132605 | &nbsp;&nbsp; 2843051 |
| S&P Global, Inc. | 8857 | &nbsp;&nbsp; 4542401 |
| State Street Corp. | 73673 | &nbsp;&nbsp; 7093236 |
| Synchrony Financial | 115530 | &nbsp;&nbsp; 6660305 |
| T. Rowe Price Group, Inc. | 22650 | &nbsp;&nbsp; 2119814 |
| Travelers Cos., Inc. (The) | 55133 | &nbsp;&nbsp; 15200168 |
| Truist Financial Corp. | 183411 | &nbsp;&nbsp; 7244734 |
| U.S. Bancorp | 303489 | &nbsp;&nbsp; 13229086 |
| Visa, Inc., Class A | 33114 | &nbsp;&nbsp; 12092902 |
| W.R. Berkley Corp. | 66081 | &nbsp;&nbsp; 4935590 |
| Wells Fargo & Co. | 548976 | &nbsp;&nbsp; 41052425 |
| Willis Towers Watson PLC | 9205 | &nbsp;&nbsp; 2913843 |
|  |  | &nbsp;&nbsp; 891019173 |
| **Health Care-17.72%** | **Health Care-17.72%** | **Health Care-17.72%** |
| Abbott Laboratories | 96438 | &nbsp;&nbsp; 12882188 |
| AbbVie, Inc. | 79500 | &nbsp;&nbsp; 14795745 |
| Agilent Technologies, Inc. | 16220 | &nbsp;&nbsp; 1815342 |
| Align Technology, Inc.<sup>(b)</sup> | 7219 | &nbsp;&nbsp; 1306206 |
| Amgen, Inc. | 31770 | &nbsp;&nbsp; 9155479 |
| Baxter International, Inc. | 111457 | &nbsp;&nbsp; 3399439 |
| Becton, Dickinson and Co. | 27549 | &nbsp;&nbsp; 4754682 |
| Biogen, Inc.<sup>(b)</sup> | 19717 | &nbsp;&nbsp; 2559069 |
| Bio-Techne Corp. | 5951 | &nbsp;&nbsp; 288028 |
| Boston Scientific Corp.<sup>(b)</sup> | 51840 | &nbsp;&nbsp; 5456678 |
| Bristol-Myers Squibb Co. | 241959 | &nbsp;&nbsp; 11681781 |
| Cardinal Health, Inc. | 525124 | &nbsp;&nbsp; 81100151 |
| Cencora, Inc. | 357529 | &nbsp;&nbsp; 104126746 |
| Centene Corp.<sup>(b)</sup> | 835909 | &nbsp;&nbsp; 47178704 |
| &nbsp;&nbsp;&nbsp; Charles River Laboratories International, <br> Inc.<sup>(b)(c)</sup><br>| 7060 | &nbsp;&nbsp; 957548 |
| Cigna Group (The) | 235348 | &nbsp;&nbsp; 74520591 |
| Cooper Cos., Inc. (The)<sup>(b)</sup> | 14842 | &nbsp;&nbsp; 1013412 |
| CVS Health Corp. | 1721653 | &nbsp;&nbsp; 110254658 |
| Danaher Corp. | 34760 | &nbsp;&nbsp; 6600924 |
| DaVita, Inc.<sup>(b)(c)</sup> | 26780 | &nbsp;&nbsp; 3649043 |
| DexCom, Inc.<sup>(b)</sup> | 17024 | &nbsp;&nbsp; 1460659 |
| Edwards Lifesciences Corp.<sup>(b)</sup> | 24888 | &nbsp;&nbsp; 1946739 |
| Elevance Health, Inc. | 128879 | &nbsp;&nbsp; 49468915 |
| Eli Lilly and Co. | 16401 | &nbsp;&nbsp; 12098526 |
| GE HealthCare Technologies, Inc. | 70031 | &nbsp;&nbsp; 4939987 |
| Gilead Sciences, Inc. | 75505 | &nbsp;&nbsp; 8311590 |

---

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

------

**Invesco S&P 500 Revenue ETF (RWL)—(continued)**

May 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Health Care-(continued)** | **Health Care-(continued)** | **Health Care-(continued)** |
| HCA Healthcare, Inc. | 67542 | &nbsp;&nbsp; $25759843 |
| Henry Schein, Inc.<sup>(b)(c)</sup> | 54081 | &nbsp;&nbsp; 3785129 |
| Hologic, Inc.<sup>(b)</sup> | 19718 | &nbsp;&nbsp; 1225868 |
| Humana, Inc. | 141490 | &nbsp;&nbsp; 32985564 |
| IDEXX Laboratories, Inc.<sup>(b)</sup> | 2862 | &nbsp;&nbsp; 1469236 |
| Incyte Corp.<sup>(b)</sup> | 18724 | &nbsp;&nbsp; 1218183 |
| Insulet Corp.<sup>(b)</sup> | 2475 | &nbsp;&nbsp; 804449 |
| Intuitive Surgical, Inc.<sup>(b)</sup> | 5045 | &nbsp;&nbsp; 2786555 |
| IQVIA Holdings, Inc.<sup>(b)</sup> | 24753 | &nbsp;&nbsp; 3473589 |
| Johnson & Johnson | 163243 | &nbsp;&nbsp; 25336946 |
| Labcorp Holdings, Inc. | 16434 | &nbsp;&nbsp; 4091573 |
| McKesson Corp. | 161124 | &nbsp;&nbsp; 115930329 |
| Medtronic PLC | 108274 | &nbsp;&nbsp; 8984577 |
| Merck & Co., Inc. | 205147 | &nbsp;&nbsp; 15763495 |
| Mettler-Toledo International, Inc.<sup>(b)</sup> | 956 | &nbsp;&nbsp; 1104677 |
| Moderna, Inc.<sup>(b)(c)</sup> | 27610 | &nbsp;&nbsp; 733322 |
| Molina Healthcare, Inc.<sup>(b)</sup> | 38612 | &nbsp;&nbsp; 11778204 |
| Pfizer, Inc. | 740697 | &nbsp;&nbsp; 17398973 |
| Quest Diagnostics, Inc. | 17687 | &nbsp;&nbsp; 3065865 |
| Regeneron Pharmaceuticals, Inc. | 6163 | &nbsp;&nbsp; 3021596 |
| ResMed, Inc. | 6669 | &nbsp;&nbsp; 1632505 |
| Revvity, Inc.<sup>(c)</sup> | 7334 | &nbsp;&nbsp; 663140 |
| Solventum Corp.<sup>(b)</sup> | 33245 | &nbsp;&nbsp; 2429877 |
| STERIS PLC | 7148 | &nbsp;&nbsp; 1752761 |
| Stryker Corp. | 18592 | &nbsp;&nbsp; 7114043 |
| Thermo Fisher Scientific, Inc. | 24996 | &nbsp;&nbsp; 10068889 |
| UnitedHealth Group, Inc. | 249269 | &nbsp;&nbsp; 75256804 |
| Universal Health Services, Inc., Class B | 28344 | &nbsp;&nbsp; 5395280 |
| Vertex Pharmaceuticals, Inc.<sup>(b)</sup> | 6612 | &nbsp;&nbsp; 2922835 |
| Viatris, Inc. | 473861 | &nbsp;&nbsp; 4165238 |
| Waters Corp.<sup>(b)(c)</sup> | 2357 | &nbsp;&nbsp; 823159 |
| West Pharmaceutical Services, Inc. | 3871 | &nbsp;&nbsp; 816200 |
| Zimmer Biomet Holdings, Inc. | 22012 | &nbsp;&nbsp; 2028846 |
| Zoetis, Inc. | 17096 | &nbsp;&nbsp; 2882898 |
|  |  | &nbsp;&nbsp; 974393278 |
| **Industrials-9.68%** | **Industrials-9.68%** | **Industrials-9.68%** |
| 3M Co. | 52730 | &nbsp;&nbsp; 7822495 |
| A.O. Smith Corp. | 17358 | &nbsp;&nbsp; 1116293 |
| Allegion PLC | 9065 | &nbsp;&nbsp; 1293576 |
| AMETEK, Inc. | 11652 | &nbsp;&nbsp; 2082678 |
| Automatic Data Processing, Inc. | 20161 | &nbsp;&nbsp; 6563010 |
| Axon Enterprise, Inc.<sup>(b)</sup> | 1161 | &nbsp;&nbsp; 871168 |
| Boeing Co. (The)<sup>(b)</sup> | 125361 | &nbsp;&nbsp; 25989843 |
| Broadridge Financial Solutions, Inc. | 8851 | &nbsp;&nbsp; 2149288 |
| Builders FirstSource, Inc.<sup>(b)</sup> | 37765 | &nbsp;&nbsp; 4066535 |
| C.H. Robinson Worldwide, Inc. | 54963 | &nbsp;&nbsp; 5274799 |
| Carrier Global Corp. | 109432 | &nbsp;&nbsp; 7791558 |
| Caterpillar, Inc. | 57360 | &nbsp;&nbsp; 19963001 |
| Cintas Corp. | 15423 | &nbsp;&nbsp; 3493310 |
| Copart, Inc.<sup>(b)</sup> | 25384 | &nbsp;&nbsp; 1306768 |
| CSX Corp. | 146773 | &nbsp;&nbsp; 4636559 |
| Cummins, Inc. | 30909 | &nbsp;&nbsp; 9936625 |
| Dayforce, Inc.<sup>(b)(c)</sup> | 9892 | &nbsp;&nbsp; 584419 |
| Deere & Co. | 30513 | &nbsp;&nbsp; 15447511 |
| Delta Air Lines, Inc. | 407280 | &nbsp;&nbsp; 19708279 |
| Dover Corp. | 13422 | &nbsp;&nbsp; 2385761 |
| Eaton Corp. PLC | 25448 | &nbsp;&nbsp; 8148450 |
| Emerson Electric Co. | 47269 | &nbsp;&nbsp; 5642973 |
| Equifax, Inc. | 7057 | &nbsp;&nbsp; 1864389 |
| &nbsp;&nbsp;&nbsp; Expeditors International of Washington, <br> Inc.<br>| 26972 | &nbsp;&nbsp; 3040554 |
| Fastenal Co. | 59327 | &nbsp;&nbsp; 2452578 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Industrials-(continued)** | **Industrials-(continued)** | **Industrials-(continued)** |
| FedEx Corp. | 107411 | &nbsp;&nbsp; $23426339 |
| Fortive Corp. | 25210 | &nbsp;&nbsp; 1769490 |
| GE Vernova, Inc. | 35024 | &nbsp;&nbsp; 16565652 |
| Generac Holdings, Inc.<sup>(b)</sup> | 9718 | &nbsp;&nbsp; 1186859 |
| General Dynamics Corp. | 54923 | &nbsp;&nbsp; 15295506 |
| General Electric Co. | 70293 | &nbsp;&nbsp; 17285752 |
| Honeywell International, Inc. | 55928 | &nbsp;&nbsp; 12677200 |
| Howmet Aerospace, Inc. | 17333 | &nbsp;&nbsp; 2944703 |
| Hubbell, Inc. | 4989 | &nbsp;&nbsp; 1943615 |
| Huntington Ingalls Industries, Inc. | 17928 | &nbsp;&nbsp; 3999020 |
| IDEX Corp. | 5318 | &nbsp;&nbsp; 962079 |
| Illinois Tool Works, Inc. | 18907 | &nbsp;&nbsp; 4633728 |
| Ingersoll Rand, Inc.<sup>(c)</sup> | 26475 | &nbsp;&nbsp; 2161419 |
| J.B. Hunt Transport Services, Inc. | 23377 | &nbsp;&nbsp; 3245896 |
| Jacobs Solutions, Inc. | 35276 | &nbsp;&nbsp; 4455359 |
| Johnson Controls International PLC | 97544 | &nbsp;&nbsp; 9888035 |
| L3Harris Technologies, Inc. | 30453 | &nbsp;&nbsp; 7440886 |
| Leidos Holdings, Inc. | 37203 | &nbsp;&nbsp; 5525390 |
| Lennox International, Inc. | 2830 | &nbsp;&nbsp; 1597394 |
| Lockheed Martin Corp. | 46072 | &nbsp;&nbsp; 22224211 |
| Masco Corp. | 32829 | &nbsp;&nbsp; 2049186 |
| Nordson Corp. | 3914 | &nbsp;&nbsp; 829729 |
| Norfolk Southern Corp. | 15643 | &nbsp;&nbsp; 3865698 |
| Northrop Grumman Corp. | 25891 | &nbsp;&nbsp; 12551180 |
| Old Dominion Freight Line, Inc. | 10559 | &nbsp;&nbsp; 1691235 |
| Otis Worldwide Corp. | 42631 | &nbsp;&nbsp; 4064866 |
| PACCAR, Inc. | 98385 | &nbsp;&nbsp; 9233432 |
| Parker-Hannifin Corp. | 9697 | &nbsp;&nbsp; 6445596 |
| Paychex, Inc. | 11042 | &nbsp;&nbsp; 1743642 |
| Paycom Software, Inc. | 2696 | &nbsp;&nbsp; 698507 |
| Pentair PLC | 14285 | &nbsp;&nbsp; 1416786 |
| Quanta Services, Inc. | 28471 | &nbsp;&nbsp; 9753026 |
| Republic Services, Inc. | 20786 | &nbsp;&nbsp; 5348030 |
| Rockwell Automation, Inc. | 9195 | &nbsp;&nbsp; 2901482 |
| Rollins, Inc. | 19980 | &nbsp;&nbsp; 1143855 |
| RTX Corp. | 188857 | &nbsp;&nbsp; 25775203 |
| Snap-on, Inc.<sup>(c)</sup> | 4667 | &nbsp;&nbsp; 1496940 |
| Southwest Airlines Co.<sup>(c)</sup> | 272429 | &nbsp;&nbsp; 9093680 |
| Stanley Black & Decker, Inc. | 56495 | &nbsp;&nbsp; 3696468 |
| Textron, Inc. | 56237 | &nbsp;&nbsp; 4163225 |
| Trane Technologies PLC | 17441 | &nbsp;&nbsp; 7504339 |
| TransDigm Group, Inc. | 1851 | &nbsp;&nbsp; 2718064 |
| Uber Technologies, Inc.<sup>(b)</sup> | 184874 | &nbsp;&nbsp; 15558996 |
| Union Pacific Corp. | 30467 | &nbsp;&nbsp; 6753315 |
| United Airlines Holdings, Inc.<sup>(b)</sup> | 235701 | &nbsp;&nbsp; 18725266 |
| United Parcel Service, Inc., Class B | 236024 | &nbsp;&nbsp; 23021781 |
| United Rentals, Inc. | 7520 | &nbsp;&nbsp; 5327018 |
| Veralto Corp. | 16193 | &nbsp;&nbsp; 1635979 |
| Verisk Analytics, Inc. | 2989 | &nbsp;&nbsp; 938964 |
| W.W. Grainger, Inc. | 5301 | &nbsp;&nbsp; 5765156 |
| Wabtec Corp. | 17601 | &nbsp;&nbsp; 3561034 |
| Waste Management, Inc. | 29580 | &nbsp;&nbsp; 7127893 |
| Xylem, Inc. | 20840 | &nbsp;&nbsp; 2626674 |
|  |  | &nbsp;&nbsp; 532087198 |
| **Information Technology-11.07%** | **Information Technology-11.07%** | **Information Technology-11.07%** |
| Accenture PLC, Class A (Ireland) | 61239 | &nbsp;&nbsp; 19401740 |
| Adobe, Inc.<sup>(b)</sup> | 15002 | &nbsp;&nbsp; 6227180 |
| Advanced Micro Devices, Inc.<sup>(b)</sup> | 76327 | &nbsp;&nbsp; 8451689 |
| Akamai Technologies, Inc.<sup>(b)</sup> | 14962 | &nbsp;&nbsp; 1136065 |
| Amphenol Corp., Class A | 72272 | &nbsp;&nbsp; 6499421 |
| Analog Devices, Inc. | 13466 | &nbsp;&nbsp; 2881455 |
| ANSYS, Inc.<sup>(b)</sup> | 2382 | &nbsp;&nbsp; 788013 |

---

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

------

**Invesco S&P 500 Revenue ETF (RWL)—(continued)**

May 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Information Technology-(continued)** | **Information Technology-(continued)** | **Information Technology-(continued)** |
| Apple, Inc. | 546306 | &nbsp;&nbsp; $109725560 |
| Applied Materials, Inc. | 55557 | &nbsp;&nbsp; 8708560 |
| Arista Networks, Inc.<sup>(b)</sup> | 26042 | &nbsp;&nbsp; 2256279 |
| Autodesk, Inc.<sup>(b)</sup> | 7210 | &nbsp;&nbsp; 2135025 |
| Broadcom, Inc. | 84037 | &nbsp;&nbsp; 20342837 |
| Cadence Design Systems, Inc.<sup>(b)</sup> | 5821 | &nbsp;&nbsp; 1671034 |
| CDW Corp. | 37569 | &nbsp;&nbsp; 6775945 |
| Cisco Systems, Inc. | 268194 | &nbsp;&nbsp; 16906950 |
| &nbsp;&nbsp;&nbsp; Cognizant Technology Solutions Corp., <br> Class A<br>| 74074 | &nbsp;&nbsp; 5999253 |
| Corning, Inc. | 86251 | &nbsp;&nbsp; 4277187 |
| CrowdStrike Holdings, Inc., Class A<sup>(b)</sup> | 3443 | &nbsp;&nbsp; 1622927 |
| Dell Technologies, Inc., Class C | 302510 | &nbsp;&nbsp; 33660288 |
| Enphase Energy, Inc.<sup>(b)</sup> | 6777 | &nbsp;&nbsp; 280500 |
| EPAM Systems, Inc.<sup>(b)(c)</sup> | 7415 | &nbsp;&nbsp; 1293843 |
| F5, Inc.<sup>(b)</sup> | 3342 | &nbsp;&nbsp; 953740 |
| Fair Isaac Corp.<sup>(b)</sup> | 301 | &nbsp;&nbsp; 519610 |
| First Solar, Inc.<sup>(b)(c)</sup> | 9203 | &nbsp;&nbsp; 1454810 |
| Fortinet, Inc.<sup>(b)</sup> | 18114 | &nbsp;&nbsp; 1843643 |
| Gartner, Inc.<sup>(b)</sup> | 4080 | &nbsp;&nbsp; 1780594 |
| Gen Digital, Inc. | 43495 | &nbsp;&nbsp; 1238738 |
| GoDaddy, Inc., Class A<sup>(b)</sup> | 7858 | &nbsp;&nbsp; 1431335 |
| Hewlett Packard Enterprise Co. | 618587 | &nbsp;&nbsp; 10689183 |
| HP, Inc. | 563503 | &nbsp;&nbsp; 14031225 |
| Intel Corp. | 768522 | &nbsp;&nbsp; 15024605 |
| International Business Machines Corp. | 75230 | &nbsp;&nbsp; 19489084 |
| Intuit, Inc. | 8667 | &nbsp;&nbsp; 6530324 |
| Jabil, Inc. | 61363 | &nbsp;&nbsp; 10309598 |
| Juniper Networks, Inc. | 42461 | &nbsp;&nbsp; 1525624 |
| Keysight Technologies, Inc.<sup>(b)</sup> | 10025 | &nbsp;&nbsp; 1574326 |
| KLA Corp. | 4782 | &nbsp;&nbsp; 3619400 |
| Lam Research Corp. | 63146 | &nbsp;&nbsp; 5101565 |
| Microchip Technology, Inc. | 27389 | &nbsp;&nbsp; 1589658 |
| Micron Technology, Inc. | 90796 | &nbsp;&nbsp; 8576590 |
| Microsoft Corp. | 204615 | &nbsp;&nbsp; 94196561 |
| Monolithic Power Systems, Inc. | 1175 | &nbsp;&nbsp; 777732 |
| Motorola Solutions, Inc. | 7856 | &nbsp;&nbsp; 3263225 |
| NetApp, Inc. | 21251 | &nbsp;&nbsp; 2107249 |
| NVIDIA Corp. | 337837 | &nbsp;&nbsp; 45651914 |
| NXP Semiconductors N.V. (Netherlands) | 18366 | &nbsp;&nbsp; 3510294 |
| ON Semiconductor Corp.<sup>(b)</sup> | 49349 | &nbsp;&nbsp; 2073645 |
| Oracle Corp. | 110655 | &nbsp;&nbsp; 18316722 |
| Palantir Technologies, Inc., Class A<sup>(b)</sup> | 10250 | &nbsp;&nbsp; 1350745 |
| Palo Alto Networks, Inc.<sup>(b)</sup> | 14291 | &nbsp;&nbsp; 2749874 |
| PTC, Inc.<sup>(b)</sup> | 4395 | &nbsp;&nbsp; 739766 |
| QUALCOMM, Inc. | 79769 | &nbsp;&nbsp; 11582459 |
| Roper Technologies, Inc. | 3736 | &nbsp;&nbsp; 2130529 |
| Salesforce, Inc. | 39889 | &nbsp;&nbsp; 10585344 |
| Seagate Technology Holdings PLC<sup>(c)</sup> | 27671 | &nbsp;&nbsp; 3263518 |
| ServiceNow, Inc.<sup>(b)</sup> | 3907 | &nbsp;&nbsp; 3950329 |
| Skyworks Solutions, Inc. | 17771 | &nbsp;&nbsp; 1226732 |
| Super Micro Computer, Inc.<sup>(b)(c)</sup> | 145941 | &nbsp;&nbsp; 5840559 |
| Synopsys, Inc.<sup>(b)</sup> | 4193 | &nbsp;&nbsp; 1945468 |
| TE Connectivity PLC (Switzerland) | 33014 | &nbsp;&nbsp; 5284551 |
| Teledyne Technologies, Inc.<sup>(b)</sup> | 3527 | &nbsp;&nbsp; 1759479 |
| Teradyne, Inc. | 9643 | &nbsp;&nbsp; 757940 |
| Texas Instruments, Inc. | 26542 | &nbsp;&nbsp; 4853205 |
| Trimble, Inc.<sup>(b)</sup> | 16268 | &nbsp;&nbsp; 1159420 |
| Tyler Technologies, Inc.<sup>(b)</sup> | 1168 | &nbsp;&nbsp; 673924 |
| VeriSign, Inc. | 1981 | &nbsp;&nbsp; 539763 |
| Western Digital Corp.<sup>(b)</sup> | 108377 | &nbsp;&nbsp; 5586834 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Information Technology-(continued)** | **Information Technology-(continued)** | **Information Technology-(continued)** |
| Workday, Inc., Class A<sup>(b)</sup> | 10421 | &nbsp;&nbsp; $2581386 |
| Zebra Technologies Corp., Class A<sup>(b)</sup> | 5387 | &nbsp;&nbsp; 1560991 |
|  |  | &nbsp;&nbsp; 608345561 |
| **Materials-2.36%** | **Materials-2.36%** | **Materials-2.36%** |
| Air Products and Chemicals, Inc. | 12225 | &nbsp;&nbsp; 3409675 |
| Albemarle Corp.<sup>(c)</sup> | 22025 | &nbsp;&nbsp; 1228114 |
| Amcor PLC | 406734 | &nbsp;&nbsp; 3705347 |
| Avery Dennison Corp. | 14776 | &nbsp;&nbsp; 2626138 |
| Ball Corp. | 68609 | &nbsp;&nbsp; 3676070 |
| CF Industries Holdings, Inc. | 22747 | &nbsp;&nbsp; 2063380 |
| Corteva, Inc. | 85481 | &nbsp;&nbsp; 6052055 |
| Dow, Inc. | 360250 | &nbsp;&nbsp; 9993335 |
| DuPont de Nemours, Inc. | 48903 | &nbsp;&nbsp; 3266720 |
| Eastman Chemical Co.<sup>(c)</sup> | 30276 | &nbsp;&nbsp; 2372730 |
| Ecolab, Inc. | 18363 | &nbsp;&nbsp; 4877580 |
| Freeport-McMoRan, Inc.<sup>(c)</sup> | 203881 | &nbsp;&nbsp; 7845341 |
| International Flavors & Fragrances, Inc. | 43094 | &nbsp;&nbsp; 3299277 |
| International Paper Co. | 109688 | &nbsp;&nbsp; 5244183 |
| Linde PLC | 21932 | &nbsp;&nbsp; 10254965 |
| LyondellBasell Industries N.V., Class A | 167474 | &nbsp;&nbsp; 9460606 |
| Martin Marietta Materials, Inc. | 4204 | &nbsp;&nbsp; 2301900 |
| Mosaic Co. (The) | 134441 | &nbsp;&nbsp; 4858698 |
| Newmont Corp. | 127395 | &nbsp;&nbsp; 6716264 |
| Nucor Corp. | 70060 | &nbsp;&nbsp; 7661762 |
| Packaging Corp. of America | 12695 | &nbsp;&nbsp; 2452293 |
| PPG Industries, Inc. | 46757 | &nbsp;&nbsp; 5180676 |
| Sherwin-Williams Co. (The) | 19696 | &nbsp;&nbsp; 7067122 |
| Smurfit WestRock PLC | 142300 | &nbsp;&nbsp; 6165859 |
| Steel Dynamics, Inc. | 42323 | &nbsp;&nbsp; 5208692 |
| Vulcan Materials Co. | 9846 | &nbsp;&nbsp; 2609879 |
|  |  | &nbsp;&nbsp; 129598661 |
| **Real Estate-0.90%** | **Real Estate-0.90%** | **Real Estate-0.90%** |
| Alexandria Real Estate Equities, Inc. | 9406 | &nbsp;&nbsp; 660207 |
| American Tower Corp. | 15581 | &nbsp;&nbsp; 3344462 |
| AvalonBay Communities, Inc. | 4213 | &nbsp;&nbsp; 871122 |
| BXP, Inc.<sup>(c)</sup> | 15378 | &nbsp;&nbsp; 1035401 |
| Camden Property Trust | 3936 | &nbsp;&nbsp; 462441 |
| CBRE Group, Inc., Class A<sup>(b)</sup> | 84228 | &nbsp;&nbsp; 10530184 |
| CoStar Group, Inc.<sup>(b)</sup> | 10634 | &nbsp;&nbsp; 782237 |
| Crown Castle, Inc. | 20598 | &nbsp;&nbsp; 2067009 |
| Digital Realty Trust, Inc. | 10926 | &nbsp;&nbsp; 1874027 |
| Equinix, Inc. | 3056 | &nbsp;&nbsp; 2716234 |
| Equity Residential | 12827 | &nbsp;&nbsp; 899686 |
| Essex Property Trust, Inc. | 1824 | &nbsp;&nbsp; 517834 |
| Extra Space Storage, Inc. | 6513 | &nbsp;&nbsp; 984440 |
| Federal Realty Investment Trust | 3723 | &nbsp;&nbsp; 355472 |
| Healthpeak Properties, Inc. | 39858 | &nbsp;&nbsp; 693928 |
| Host Hotels & Resorts, Inc. | 112188 | &nbsp;&nbsp; 1737792 |
| Invitation Homes, Inc. | 24274 | &nbsp;&nbsp; 818034 |
| Iron Mountain, Inc. | 21250 | &nbsp;&nbsp; 2097587 |
| Kimco Realty Corp. | 29376 | &nbsp;&nbsp; 624534 |
| Mid-America Apartment Communities, Inc. | 4055 | &nbsp;&nbsp; 635216 |
| Prologis, Inc.<sup>(c)</sup> | 21173 | &nbsp;&nbsp; 2299388 |
| Public Storage | 4606 | &nbsp;&nbsp; 1420536 |
| Realty Income Corp. | 28077 | &nbsp;&nbsp; 1589720 |
| Regency Centers Corp. | 6058 | &nbsp;&nbsp; 437085 |
| SBA Communications Corp., Class A<sup>(c)</sup> | 3722 | &nbsp;&nbsp; 863094 |
| Simon Property Group, Inc. | 10737 | &nbsp;&nbsp; 1750883 |
| UDR, Inc. | 11577 | &nbsp;&nbsp; 479635 |
| Ventas, Inc. | 22128 | &nbsp;&nbsp; 1422388 |
| VICI Properties, Inc. | 35748 | &nbsp;&nbsp; 1133569 |

---

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

------

**Invesco S&P 500 Revenue ETF (RWL)—(continued)**

May 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Real Estate-(continued)** | **Real Estate-(continued)** | **Real Estate-(continued)** |
| Welltower, Inc. | 16126 | &nbsp;&nbsp; $2487919 |
| Weyerhaeuser Co. | 72587 | &nbsp;&nbsp; 1880729 |
|  |  | &nbsp;&nbsp; 49472793 |
| **Utilities-2.60%** | **Utilities-2.60%** | **Utilities-2.60%** |
| AES Corp. (The) | 309650 | &nbsp;&nbsp; 3124368 |
| Alliant Energy Corp. | 19129 | &nbsp;&nbsp; 1190398 |
| Ameren Corp. | 23367 | &nbsp;&nbsp; 2263795 |
| American Electric Power Co., Inc. | 57669 | &nbsp;&nbsp; 5968165 |
| American Water Works Co., Inc. | 9964 | &nbsp;&nbsp; 1424553 |
| Atmos Energy Corp. | 8491 | &nbsp;&nbsp; 1313388 |
| CenterPoint Energy, Inc.<sup>(c)</sup> | 74614 | &nbsp;&nbsp; 2778625 |
| CMS Energy Corp. | 31457 | &nbsp;&nbsp; 2209225 |
| Consolidated Edison, Inc. | 44328 | &nbsp;&nbsp; 4631833 |
| Constellation Energy Corp. | 32841 | &nbsp;&nbsp; 10054272 |
| Dominion Energy, Inc. | 79703 | &nbsp;&nbsp; 4516769 |
| DTE Energy Co. | 28048 | &nbsp;&nbsp; 3832759 |
| Duke Energy Corp. | 77687 | &nbsp;&nbsp; 9145314 |
| Edison International | 94603 | &nbsp;&nbsp; 5264657 |
| Entergy Corp. | 42920 | &nbsp;&nbsp; 3574378 |
| Evergy, Inc. | 26205 | &nbsp;&nbsp; 1740274 |
| Eversource Energy | 59688 | &nbsp;&nbsp; 3868379 |
| Exelon Corp. | 161252 | &nbsp;&nbsp; 7066063 |
| FirstEnergy Corp. | 105169 | &nbsp;&nbsp; 4410788 |
| NextEra Energy, Inc. | 99877 | &nbsp;&nbsp; 7055311 |
| NiSource, Inc. | 41678 | &nbsp;&nbsp; 1647948 |
| NRG Energy, Inc. | 91021 | &nbsp;&nbsp; 14190174 |
| PG&E Corp. | 449166 | &nbsp;&nbsp; 7581922 |
| Pinnacle West Capital Corp. | 16790 | &nbsp;&nbsp; 1531752 |
| PPL Corp. | 74312 | &nbsp;&nbsp; 2582342 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Utilities-(continued)** | **Utilities-(continued)** | **Utilities-(continued)** |
| Public Service Enterprise Group, Inc. | 38515 | &nbsp;&nbsp; $3120870 |
| Sempra | 56093 | &nbsp;&nbsp; 4408349 |
| Southern Co. (The) | 89887 | &nbsp;&nbsp; 8089830 |
| Vistra Corp. | 47442 | &nbsp;&nbsp; 7617762 |
| WEC Energy Group, Inc. | 24475 | &nbsp;&nbsp; 2629594 |
| Xcel Energy, Inc. | 58384 | &nbsp;&nbsp; 4092718 |
|  |  | &nbsp;&nbsp; 142926575 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.90% <br>(Cost $4,851,984,545) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.90% <br>(Cost $4,851,984,545) | &nbsp;&nbsp; 5491990552 |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-1.06%** | **Money Market Funds-1.06%** | **Money Market Funds-1.06%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.29%<sup>(e)(f)(g)</sup><br>| 13983939 | &nbsp;&nbsp; 13983939 |
| Invesco Private Prime Fund, 4.45%<sup>(e)(f)(g)</sup> | 44065889 | &nbsp;&nbsp; 44074702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $58,058,641) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $58,058,641) | &nbsp;&nbsp; 58058641 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-100.96% <br>(Cost $4,910,043,186) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-100.96% <br>(Cost $4,910,043,186) | &nbsp;&nbsp; 5550049193 |
| OTHER ASSETS LESS LIABILITIES-(0.96)% | OTHER ASSETS LESS LIABILITIES-(0.96)% | &nbsp;&nbsp; (52708952)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $5497340241 |

---

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at May 31, 2025. |
| <sup>(d)</sup> | Restricted security. The value of this security at May 31, 2025 represented less than 1% of the Fund's Net Assets. |
| <sup>(e)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the nine months ended May 31, 2025.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**August 31, 2024**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**May 31, 2025**<br>| **Dividend Income** |
| &nbsp;&nbsp; Invesco Ltd. | &nbsp;&nbsp;&nbsp; $1381299 | &nbsp;&nbsp;&nbsp; $932394 | &nbsp;&nbsp;&nbsp; $(333910)<br>| &nbsp;&nbsp;&nbsp; $(247116)<br>| &nbsp;&nbsp;&nbsp; $(32590)<br>| &nbsp;&nbsp;&nbsp; $1700077 | &nbsp;&nbsp;&nbsp; $60163 |
| **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; 69464973 | &nbsp;&nbsp;&nbsp; (69464973)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 69842 |

---

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

------

**Invesco S&P 500 Revenue ETF (RWL)—(continued)**

May 31, 2025

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **August 31, 2024**<br>| **Purchases**<br> **at Cost**<br>| **Proceeds**<br> **from Sales**<br>| **Change in**<br> **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Realized**<br> **Gain**<br> **(Loss)**<br>| **Value**<br> **May 31, 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; $36153465 | &nbsp;&nbsp;&nbsp; $352665219 | &nbsp;&nbsp;&nbsp; $(374834745)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $13983939 | &nbsp;&nbsp;&nbsp; $892,845<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 94341793 | &nbsp;&nbsp;&nbsp; 744077303 | &nbsp;&nbsp;&nbsp; (794329237)<br>| &nbsp;&nbsp;&nbsp; (5515)<br>| &nbsp;&nbsp;&nbsp; (9642)<br>| &nbsp;&nbsp;&nbsp; 44074702 | &nbsp;&nbsp;&nbsp; 2,400,848<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $131876557 | &nbsp;&nbsp;&nbsp; $1167139889 | &nbsp;&nbsp;&nbsp; $(1238962865)<br>| &nbsp;&nbsp;&nbsp; $(252631)<br>| &nbsp;&nbsp;&nbsp; $(42232)<br>| &nbsp;&nbsp;&nbsp; $59758718 | &nbsp;&nbsp;&nbsp; $3423698 |

---

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

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

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

<sup>(f)</sup> The rate shown is the 7-day SEC standardized yield as of May 31, 2025. <br> <sup>(g)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

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

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

------

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

**Invesco S&P MidCap 400 Revenue ETF (RWK)**

May 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.86%** | **Common Stocks & Other Equity Interests-99.86%** | **Common Stocks & Other Equity Interests-99.86%** |
| **Communication Services-1.31%** | **Communication Services-1.31%** | **Communication Services-1.31%** |
| EchoStar Corp., Class A<sup>(b)(c)</sup> | 197258 | &nbsp;&nbsp; $3497384 |
| Frontier Communications Parent, Inc.<sup>(b)</sup> | 54373 | &nbsp;&nbsp; 1969934 |
| Iridium Communications, Inc. | 9972 | &nbsp;&nbsp; 253289 |
| New York Times Co. (The), Class A | 17721 | &nbsp;&nbsp; 1012223 |
| Nexstar Media Group, Inc., Class A | 10495 | &nbsp;&nbsp; 1788558 |
| Warner Music Group Corp., Class A<sup>(c)</sup> | 62175 | &nbsp;&nbsp; 1636446 |
| ZoomInfo Technologies, Inc., Class A<sup>(b)(c)</sup> | 36443 | &nbsp;&nbsp; 348031 |
|  |  | &nbsp;&nbsp; 10505865 |
| **Consumer Discretionary-20.36%** | **Consumer Discretionary-20.36%** | **Consumer Discretionary-20.36%** |
| Abercrombie & Fitch Co., Class A<sup>(b)</sup> | 21234 | &nbsp;&nbsp; 1666657 |
| Aramark<sup>(c)</sup> | 167308 | &nbsp;&nbsp; 6775974 |
| Autoliv, Inc. (Sweden) | 37460 | &nbsp;&nbsp; 3851637 |
| AutoNation, Inc.<sup>(b)</sup> | 53138 | &nbsp;&nbsp; 9769421 |
| Bath & Body Works, Inc. | 81916 | &nbsp;&nbsp; 2303478 |
| Boyd Gaming Corp. | 19199 | &nbsp;&nbsp; 1439349 |
| Brunswick Corp. | 30416 | &nbsp;&nbsp; 1539658 |
| Burlington Stores, Inc.<sup>(b)</sup> | 14354 | &nbsp;&nbsp; 3276588 |
| Capri Holdings Ltd.<sup>(b)(c)</sup> | 78035 | &nbsp;&nbsp; 1413994 |
| Chewy, Inc., Class A<sup>(b)</sup> | 113131 | &nbsp;&nbsp; 5119178 |
| Choice Hotels International, Inc.<sup>(c)</sup> | 4000 | &nbsp;&nbsp; 506720 |
| Churchill Downs, Inc.<sup>(c)</sup> | 8429 | &nbsp;&nbsp; 804717 |
| Columbia Sportswear Co.<sup>(c)</sup> | 14056 | &nbsp;&nbsp; 896492 |
| Crocs, Inc.<sup>(b)</sup> | 13220 | &nbsp;&nbsp; 1348440 |
| Dick's Sporting Goods, Inc. | 22615 | &nbsp;&nbsp; 4055774 |
| Duolingo, Inc.<sup>(b)</sup> | 837 | &nbsp;&nbsp; 434914 |
| Five Below, Inc.<sup>(b)(c)</sup> | 17041 | &nbsp;&nbsp; 1986469 |
| Floor & Decor Holdings, Inc., Class A<sup>(b)(c)</sup> | 16371 | &nbsp;&nbsp; 1173637 |
| GameStop Corp., Class A<sup>(b)</sup> | 64707 | &nbsp;&nbsp; 1928269 |
| Gap, Inc. (The) | 235522 | &nbsp;&nbsp; 5254496 |
| Gentex Corp.<sup>(c)</sup> | 31101 | &nbsp;&nbsp; 670849 |
| Goodyear Tire & Rubber Co. (The)<sup>(b)(c)</sup> | 666456 | &nbsp;&nbsp; 7604263 |
| Graham Holdings Co., Class B | 1720 | &nbsp;&nbsp; 1641585 |
| Grand Canyon Education, Inc.<sup>(b)</sup> | 1997 | &nbsp;&nbsp; 395096 |
| H&R Block, Inc. | 23663 | &nbsp;&nbsp; 1347608 |
| Harley-Davidson, Inc. | 69565 | &nbsp;&nbsp; 1684169 |
| Hilton Grand Vacations, Inc.<sup>(b)(c)</sup> | 45949 | &nbsp;&nbsp; 1753873 |
| Hyatt Hotels Corp., Class A | 17621 | &nbsp;&nbsp; 2326501 |
| KB Home | 37052 | &nbsp;&nbsp; 1911142 |
| Lear Corp. | 80677 | &nbsp;&nbsp; 7294814 |
| Light & Wonder, Inc.<sup>(b)(c)</sup> | 10268 | &nbsp;&nbsp; 925352 |
| Lithia Motors, Inc., Class A | 39844 | &nbsp;&nbsp; 12626962 |
| Macy's, Inc. | 542624 | &nbsp;&nbsp; 6451799 |
| Marriott Vacations Worldwide Corp. | 23771 | &nbsp;&nbsp; 1565558 |
| Mattel, Inc.<sup>(b)</sup> | 86197 | &nbsp;&nbsp; 1632571 |
| Murphy USA, Inc. | 14715 | &nbsp;&nbsp; 6280215 |
| Ollie's Bargain Outlet Holdings, Inc.<sup>(b)(c)</sup> | 7229 | &nbsp;&nbsp; 805672 |
| Penske Automotive Group, Inc. | 63560 | &nbsp;&nbsp; 10435281 |
| Planet Fitness, Inc., Class A<sup>(b)</sup> | 4120 | &nbsp;&nbsp; 423660 |
| Polaris, Inc. | 53022 | &nbsp;&nbsp; 2079523 |
| PVH Corp. | 43443 | &nbsp;&nbsp; 3639220 |
| RH<sup>(b)(c)</sup> | 4232 | &nbsp;&nbsp; 766457 |
| Service Corp. International | 17536 | &nbsp;&nbsp; 1367808 |
| Skechers U.S.A., Inc., Class A<sup>(b)</sup> | 52214 | &nbsp;&nbsp; 3239356 |
| Somnigroup International, Inc.<sup>(c)</sup> | 28832 | &nbsp;&nbsp; 1875810 |
| Taylor Morrison Home Corp., Class A<sup>(b)</sup> | 45085 | &nbsp;&nbsp; 2537384 |
| Texas Roadhouse, Inc. | 10058 | &nbsp;&nbsp; 1963422 |
| Thor Industries, Inc.<sup>(c)</sup> | 39754 | &nbsp;&nbsp; 3227627 |
| Toll Brothers, Inc. | 33130 | &nbsp;&nbsp; 3453802 |
| TopBuild Corp.<sup>(b)</sup> | 5775 | &nbsp;&nbsp; 1633690 |
| Travel + Leisure Co. | 26145 | &nbsp;&nbsp; 1269863 |
| Under Armour, Inc., Class A<sup>(b)(c)</sup> | 121492 | &nbsp;&nbsp; 815211 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Consumer Discretionary-(continued)** | **Consumer Discretionary-(continued)** | **Consumer Discretionary-(continued)** |
| Under Armour, Inc., Class C<sup>(b)(c)</sup> | 134388 | &nbsp;&nbsp; $846644 |
| V.F. Corp. | 194042 | &nbsp;&nbsp; 2417763 |
| Vail Resorts, Inc.<sup>(c)</sup> | 5981 | &nbsp;&nbsp; 957977 |
| Valvoline, Inc.<sup>(b)(c)</sup> | 15769 | &nbsp;&nbsp; 545450 |
| Visteon Corp.<sup>(b)</sup> | 15179 | &nbsp;&nbsp; 1281487 |
| Wendy's Co. (The) | 48366 | &nbsp;&nbsp; 551372 |
| Whirlpool Corp.<sup>(c)</sup> | 59888 | &nbsp;&nbsp; 4676654 |
| Wingstop, Inc. | 932 | &nbsp;&nbsp; 318464 |
| Wyndham Hotels & Resorts, Inc. | 5029 | &nbsp;&nbsp; 416301 |
| YETI Holdings, Inc.<sup>(b)</sup> | 18101 | &nbsp;&nbsp; 553167 |
|  |  | &nbsp;&nbsp; 163757284 |
| **Consumer Staples-12.67%** | **Consumer Staples-12.67%** | **Consumer Staples-12.67%** |
| Albertson's Cos., Inc., Class A | 1165335 | &nbsp;&nbsp; 25905397 |
| BellRing Brands, Inc.<sup>(b)</sup> | 10109 | &nbsp;&nbsp; 636362 |
| &nbsp;&nbsp;&nbsp; BJ's Wholesale Club Holdings, Inc., <br> Class C<sup>(b)</sup><br>| 62005 | &nbsp;&nbsp; 7019586 |
| Boston Beer Co., Inc. (The), Class A<sup>(b)</sup> | 2831 | &nbsp;&nbsp; 650705 |
| Casey's General Stores, Inc. | 12227 | &nbsp;&nbsp; 5352492 |
| Celsius Holdings, Inc.<sup>(b)(c)</sup> | 16193 | &nbsp;&nbsp; 613391 |
| Coca-Cola Consolidated, Inc. | 16938 | &nbsp;&nbsp; 1941942 |
| Coty, Inc., Class A<sup>(b)(c)</sup> | 362247 | &nbsp;&nbsp; 1785878 |
| Darling Ingredients, Inc.<sup>(b)</sup> | 63634 | &nbsp;&nbsp; 1982835 |
| e.l.f. Beauty, Inc.<sup>(b)(c)</sup> | 6267 | &nbsp;&nbsp; 704975 |
| Flowers Foods, Inc. | 90866 | &nbsp;&nbsp; 1535635 |
| Ingredion, Inc. | 18687 | &nbsp;&nbsp; 2599735 |
| Lancaster Colony Corp. | 3449 | &nbsp;&nbsp; 577363 |
| Maplebear, Inc.<sup>(b)</sup> | 28584 | &nbsp;&nbsp; 1305431 |
| Performance Food Group Co.<sup>(b)</sup> | 254280 | &nbsp;&nbsp; 22773317 |
| Pilgrim's Pride Corp.<sup>(c)</sup> | 114778 | &nbsp;&nbsp; 5642486 |
| Post Holdings, Inc.<sup>(b)(c)</sup> | 23255 | &nbsp;&nbsp; 2571770 |
| Sprouts Farmers Market, Inc.<sup>(b)</sup> | 18445 | &nbsp;&nbsp; 3188403 |
| US Foods Holding Corp.<sup>(b)</sup> | 190673 | &nbsp;&nbsp; 15086048 |
|  |  | &nbsp;&nbsp; 101873751 |
| **Energy-4.93%** | **Energy-4.93%** | **Energy-4.93%** |
| Antero Midstream Corp. | 22652 | &nbsp;&nbsp; 425404 |
| Antero Resources Corp.<sup>(b)</sup> | 39431 | &nbsp;&nbsp; 1476691 |
| ChampionX Corp. | 41673 | &nbsp;&nbsp; 1003069 |
| Chord Energy Corp. | 16265 | &nbsp;&nbsp; 1463850 |
| Civitas Resources, Inc. | 48926 | &nbsp;&nbsp; 1339105 |
| CNX Resources Corp.<sup>(b)(c)</sup> | 16238 | &nbsp;&nbsp; 524163 |
| DT Midstream, Inc. | 3423 | &nbsp;&nbsp; 358525 |
| HF Sinclair Corp.<sup>(c)</sup> | 301963 | &nbsp;&nbsp; 10909923 |
| Matador Resources Co. | 23657 | &nbsp;&nbsp; 1017488 |
| Murphy Oil Corp. | 39436 | &nbsp;&nbsp; 825395 |
| NOV, Inc. | 206423 | &nbsp;&nbsp; 2477076 |
| Ovintiv, Inc. | 74569 | &nbsp;&nbsp; 2671062 |
| PBF Energy, Inc., Class A | 542533 | &nbsp;&nbsp; 10335254 |
| Permian Resources Corp.<sup>(c)</sup> | 123261 | &nbsp;&nbsp; 1554321 |
| Range Resources Corp. | 20608 | &nbsp;&nbsp; 783928 |
| Valaris Ltd.<sup>(b)(c)</sup> | 21009 | &nbsp;&nbsp; 790359 |
| Viper Energy, Inc. | 6557 | &nbsp;&nbsp; 260247 |
| Weatherford International PLC | 33693 | &nbsp;&nbsp; 1469015 |
|  |  | &nbsp;&nbsp; 39684875 |
| **Financials-13.48%** | **Financials-13.48%** | **Financials-13.48%** |
| Affiliated Managers Group, Inc. | 4149 | &nbsp;&nbsp; 730224 |
| Ally Financial, Inc. | 158737 | &nbsp;&nbsp; 5555795 |
| American Financial Group, Inc. | 21938 | &nbsp;&nbsp; 2719873 |
| Annaly Capital Management, Inc. | 98562 | &nbsp;&nbsp; 1867750 |
| Associated Banc-Corp | 32181 | &nbsp;&nbsp; 745634 |
| Bank OZK<sup>(c)</sup> | 20750 | &nbsp;&nbsp; 919847 |

---

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

------

**Invesco S&P MidCap 400 Revenue ETF (RWK)—(continued)**

May 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Financials-(continued)** | **Financials-(continued)** | **Financials-(continued)** |
| Brighthouse Financial, Inc.<sup>(b)</sup> | 28589 | &nbsp;&nbsp; $1709908 |
| Cadence Bank<sup>(c)</sup> | 32926 | &nbsp;&nbsp; 997658 |
| Carlyle Group, Inc. (The) | 41346 | &nbsp;&nbsp; 1868839 |
| CNO Financial Group, Inc. | 37616 | &nbsp;&nbsp; 1427903 |
| Columbia Banking System, Inc. | 40587 | &nbsp;&nbsp; 948924 |
| Comerica, Inc. | 27533 | &nbsp;&nbsp; 1571859 |
| Commerce Bancshares, Inc. | 10389 | &nbsp;&nbsp; 654611 |
| Cullen/Frost Bankers, Inc. | 7569 | &nbsp;&nbsp; 961112 |
| East West Bancorp, Inc. | 17132 | &nbsp;&nbsp; 1562438 |
| Equitable Holdings, Inc. | 91977 | &nbsp;&nbsp; 4862824 |
| Essent Group Ltd. | 7373 | &nbsp;&nbsp; 427634 |
| Euronet Worldwide, Inc.<sup>(b)</sup> | 13178 | &nbsp;&nbsp; 1426914 |
| Evercore, Inc., Class A | 4957 | &nbsp;&nbsp; 1147496 |
| F.N.B. Corp. | 63920 | &nbsp;&nbsp; 886570 |
| Federated Hermes, Inc., Class B | 14260 | &nbsp;&nbsp; 601772 |
| Fidelity National Financial, Inc. | 73006 | &nbsp;&nbsp; 3998539 |
| First American Financial Corp. | 31130 | &nbsp;&nbsp; 1737365 |
| First Financial Bankshares, Inc.<sup>(c)</sup> | 7045 | &nbsp;&nbsp; 248407 |
| First Horizon Corp. | 87644 | &nbsp;&nbsp; 1742363 |
| FirstCash Holdings, Inc. | 9809 | &nbsp;&nbsp; 1254669 |
| Flagstar Financial, Inc. | 180659 | &nbsp;&nbsp; 2081192 |
| Glacier Bancorp, Inc.<sup>(c)</sup> | 9348 | &nbsp;&nbsp; 387662 |
| Hamilton Lane, Inc., Class A<sup>(c)</sup> | 1590 | &nbsp;&nbsp; 236910 |
| Hancock Whitney Corp. | 13401 | &nbsp;&nbsp; 732633 |
| Hanover Insurance Group, Inc. (The) | 12512 | &nbsp;&nbsp; 2201862 |
| Home BancShares, Inc. | 17107 | &nbsp;&nbsp; 483957 |
| Houlihan Lokey, Inc. | 4703 | &nbsp;&nbsp; 821520 |
| Interactive Brokers Group, Inc., Class A | 18015 | &nbsp;&nbsp; 3777385 |
| International Bancshares Corp. | 5529 | &nbsp;&nbsp; 346281 |
| Janus Henderson Group PLC | 22298 | &nbsp;&nbsp; 810086 |
| Jefferies Financial Group, Inc. | 63336 | &nbsp;&nbsp; 3078130 |
| Kemper Corp. | 23314 | &nbsp;&nbsp; 1485801 |
| Kinsale Capital Group, Inc. | 1162 | &nbsp;&nbsp; 548452 |
| MGIC Investment Corp. | 17418 | &nbsp;&nbsp; 460706 |
| Morningstar, Inc. | 2598 | &nbsp;&nbsp; 801275 |
| Old National Bancorp | 47073 | &nbsp;&nbsp; 981943 |
| Old Republic International Corp. | 74054 | &nbsp;&nbsp; 2799241 |
| Pinnacle Financial Partners, Inc. | 9729 | &nbsp;&nbsp; 1033998 |
| Primerica, Inc. | 3751 | &nbsp;&nbsp; 1015021 |
| Prosperity Bancshares, Inc. | 8304 | &nbsp;&nbsp; 578374 |
| Reinsurance Group of America, Inc. | 38729 | &nbsp;&nbsp; 7873218 |
| RenaissanceRe Holdings Ltd. (Bermuda) | 16291 | &nbsp;&nbsp; 4063301 |
| RLI Corp. | 7865 | &nbsp;&nbsp; 604583 |
| Ryan Specialty Holdings, Inc., Class A | 12039 | &nbsp;&nbsp; 861631 |
| SEI Investments Co. | 9463 | &nbsp;&nbsp; 806815 |
| Selective Insurance Group, Inc. | 19018 | &nbsp;&nbsp; 1673964 |
| Shift4 Payments, Inc., Class A<sup>(b)(c)</sup> | 12106 | &nbsp;&nbsp; 1147528 |
| SLM Corp. | 34537 | &nbsp;&nbsp; 1117963 |
| SouthState Corp. | 8874 | &nbsp;&nbsp; 779137 |
| Starwood Property Trust, Inc.<sup>(c)</sup> | 33912 | &nbsp;&nbsp; 669762 |
| Stifel Financial Corp. | 20528 | &nbsp;&nbsp; 1934148 |
| Synovus Financial Corp. | 25146 | &nbsp;&nbsp; 1202733 |
| Texas Capital Bancshares, Inc.<sup>(b)(c)</sup> | 8797 | &nbsp;&nbsp; 630657 |
| UMB Financial Corp. | 9259 | &nbsp;&nbsp; 954788 |
| United Bankshares, Inc. | 15417 | &nbsp;&nbsp; 557170 |
| Unum Group | 54563 | &nbsp;&nbsp; 4458343 |
| Valley National Bancorp | 134814 | &nbsp;&nbsp; 1183667 |
| Voya Financial, Inc. | 39986 | &nbsp;&nbsp; 2659869 |
| Webster Financial Corp. | 27597 | &nbsp;&nbsp; 1420694 |
| Western Alliance Bancorporation | 21755 | &nbsp;&nbsp; 1575280 |
| Western Union Co. (The) | 129704 | &nbsp;&nbsp; 1203653 |
| WEX, Inc.<sup>(b)(c)</sup> | 5739 | &nbsp;&nbsp; 762885 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Financials-(continued)** | **Financials-(continued)** | **Financials-(continued)** |
| Wintrust Financial Corp. | 11866 | &nbsp;&nbsp; $1416919 |
| Zions Bancorporation N.A. | 34203 | &nbsp;&nbsp; 1619854 |
|  |  | &nbsp;&nbsp; 108417919 |
| **Health Care-4.54%** | **Health Care-4.54%** | **Health Care-4.54%** |
| Acadia Healthcare Co., Inc.<sup>(b)(c)</sup> | 35930 | &nbsp;&nbsp; 813455 |
| Amedisys, Inc.<sup>(b)</sup> | 8369 | &nbsp;&nbsp; 787272 |
| Avantor, Inc.<sup>(b)</sup> | 141050 | &nbsp;&nbsp; 1820955 |
| BioMarin Pharmaceutical, Inc.<sup>(b)</sup> | 13215 | &nbsp;&nbsp; 767395 |
| Bio-Rad Laboratories, Inc., Class A<sup>(b)(c)</sup> | 3355 | &nbsp;&nbsp; 761350 |
| Bruker Corp.<sup>(c)</sup> | 24583 | &nbsp;&nbsp; 902196 |
| Chemed Corp. | 1355 | &nbsp;&nbsp; 778908 |
| Cytokinetics, Inc.<sup>(b)(c)</sup> | 141 | &nbsp;&nbsp; 4374 |
| DENTSPLY SIRONA, Inc.<sup>(c)</sup> | 81232 | &nbsp;&nbsp; 1298087 |
| Doximity, Inc., Class A<sup>(b)</sup> | 2769 | &nbsp;&nbsp; 144237 |
| Encompass Health Corp. | 18711 | &nbsp;&nbsp; 2262160 |
| Ensign Group, Inc. (The) | 11060 | &nbsp;&nbsp; 1628696 |
| Envista Holdings Corp.<sup>(b)(c)</sup> | 49242 | &nbsp;&nbsp; 899651 |
| Exelixis, Inc.<sup>(b)</sup> | 19141 | &nbsp;&nbsp; 823829 |
| Globus Medical, Inc., Class A<sup>(b)</sup> | 11601 | &nbsp;&nbsp; 686547 |
| Haemonetics Corp.<sup>(b)(c)</sup> | 6818 | &nbsp;&nbsp; 461647 |
| Halozyme Therapeutics, Inc.<sup>(b)</sup> | 5435 | &nbsp;&nbsp; 304740 |
| HealthEquity, Inc.<sup>(b)(c)</sup> | 3945 | &nbsp;&nbsp; 396906 |
| Hims & Hers Health, Inc.<sup>(b)(c)</sup> | 14287 | &nbsp;&nbsp; 808073 |
| Illumina, Inc.<sup>(b)</sup> | 17047 | &nbsp;&nbsp; 1401945 |
| Jazz Pharmaceuticals PLC<sup>(b)</sup> | 9957 | &nbsp;&nbsp; 1076053 |
| Lantheus Holdings, Inc.<sup>(b)(c)</sup> | 4960 | &nbsp;&nbsp; 374778 |
| LivaNova PLC<sup>(b)(c)</sup> | 10428 | &nbsp;&nbsp; 451011 |
| Masimo Corp.<sup>(b)(c)</sup> | 4101 | &nbsp;&nbsp; 666412 |
| Medpace Holdings, Inc.<sup>(b)(c)</sup> | 2132 | &nbsp;&nbsp; 628727 |
| Neurocrine Biosciences, Inc.<sup>(b)</sup> | 7090 | &nbsp;&nbsp; 872212 |
| Option Care Health, Inc.<sup>(b)</sup> | 49895 | &nbsp;&nbsp; 1630569 |
| Penumbra, Inc.<sup>(b)(c)</sup> | 1458 | &nbsp;&nbsp; 389242 |
| Perrigo Co. PLC | 52253 | &nbsp;&nbsp; 1398813 |
| Repligen Corp.<sup>(b)</sup> | 1413 | &nbsp;&nbsp; 166833 |
| Roivant Sciences Ltd.<sup>(b)(c)</sup> | 2986 | &nbsp;&nbsp; 32816 |
| Sarepta Therapeutics, Inc.<sup>(b)(c)</sup> | 6215 | &nbsp;&nbsp; 233684 |
| Sotera Health Co.<sup>(b)(c)</sup> | 31812 | &nbsp;&nbsp; 389379 |
| Tenet Healthcare Corp.<sup>(b)</sup> | 55979 | &nbsp;&nbsp; 9447576 |
| United Therapeutics Corp.<sup>(b)</sup> | 3076 | &nbsp;&nbsp; 980783 |
|  |  | &nbsp;&nbsp; 36491311 |
| **Industrials-22.51%** | **Industrials-22.51%** | **Industrials-22.51%** |
| AAON, Inc.<sup>(c)</sup> | 4800 | &nbsp;&nbsp; 462192 |
| Acuity, Inc. | 4799 | &nbsp;&nbsp; 1247212 |
| Advanced Drainage Systems, Inc. | 8807 | &nbsp;&nbsp; 968418 |
| AECOM | 56288 | &nbsp;&nbsp; 6183237 |
| AGCO Corp. | 40570 | &nbsp;&nbsp; 3975049 |
| Alaska Air Group, Inc.<sup>(b)(c)</sup> | 72232 | &nbsp;&nbsp; 3678776 |
| American Airlines Group, Inc.<sup>(b)(c)</sup> | 1628407 | &nbsp;&nbsp; 18580124 |
| Applied Industrial Technologies, Inc. | 6518 | &nbsp;&nbsp; 1476457 |
| Avis Budget Group, Inc.<sup>(b)(c)</sup> | 61790 | &nbsp;&nbsp; 7525404 |
| Brink's Co. (The) | 19406 | &nbsp;&nbsp; 1592456 |
| BWX Technologies, Inc. | 9052 | &nbsp;&nbsp; 1136931 |
| CACI International, Inc., Class A<sup>(b)</sup> | 7216 | &nbsp;&nbsp; 3088448 |
| Carlisle Cos., Inc. | 4985 | &nbsp;&nbsp; 1895197 |
| Chart Industries, Inc.<sup>(b)(c)</sup> | 9350 | &nbsp;&nbsp; 1466641 |
| Clean Harbors, Inc.<sup>(b)</sup> | 9909 | &nbsp;&nbsp; 2247262 |
| CNH Industrial N.V.<sup>(c)</sup> | 510218 | &nbsp;&nbsp; 6382827 |
| Comfort Systems USA, Inc. | 6868 | &nbsp;&nbsp; 3284484 |
| Concentrix Corp.<sup>(c)</sup> | 71321 | &nbsp;&nbsp; 3991480 |
| Core & Main, Inc., Class A<sup>(b)</sup> | 49616 | &nbsp;&nbsp; 2719453 |
| Crane Co. | 4868 | &nbsp;&nbsp; 834375 |

---

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

------

**Invesco S&P MidCap 400 Revenue ETF (RWK)—(continued)**

May 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Industrials-(continued)** | **Industrials-(continued)** | **Industrials-(continued)** |
| Curtiss-Wright Corp. | 3262 | &nbsp;&nbsp; $1435639 |
| Donaldson Co., Inc. | 17543 | &nbsp;&nbsp; 1220116 |
| EMCOR Group, Inc. | 12506 | &nbsp;&nbsp; 5901081 |
| EnerSys | 12158 | &nbsp;&nbsp; 1016774 |
| ESAB Corp. | 7523 | &nbsp;&nbsp; 925254 |
| ExlService Holdings, Inc.<sup>(b)</sup> | 13087 | &nbsp;&nbsp; 601871 |
| Exponent, Inc. | 2229 | &nbsp;&nbsp; 170162 |
| Flowserve Corp. | 30802 | &nbsp;&nbsp; 1537328 |
| Fluor Corp.<sup>(b)</sup> | 150591 | &nbsp;&nbsp; 6261574 |
| Fortune Brands Innovations, Inc.<sup>(c)</sup> | 24809 | &nbsp;&nbsp; 1250374 |
| FTI Consulting, Inc.<sup>(b)</sup> | 7562 | &nbsp;&nbsp; 1241378 |
| GATX Corp. | 3430 | &nbsp;&nbsp; 546193 |
| Genpact Ltd.<sup>(c)</sup> | 31862 | &nbsp;&nbsp; 1371659 |
| Graco, Inc. | 8286 | &nbsp;&nbsp; 701493 |
| GXO Logistics, Inc.<sup>(b)(c)</sup> | 100164 | &nbsp;&nbsp; 4120747 |
| Hexcel Corp. | 11054 | &nbsp;&nbsp; 584646 |
| Insperity, Inc. | 24642 | &nbsp;&nbsp; 1594830 |
| ITT, Inc. | 9006 | &nbsp;&nbsp; 1355763 |
| KBR, Inc. | 50184 | &nbsp;&nbsp; 2619103 |
| Kirby Corp.<sup>(b)(c)</sup> | 11095 | &nbsp;&nbsp; 1227551 |
| Knight-Swift Transportation Holdings, Inc. | 52086 | &nbsp;&nbsp; 2308451 |
| Landstar System, Inc. | 10496 | &nbsp;&nbsp; 1440261 |
| Lincoln Electric Holdings, Inc. | 6911 | &nbsp;&nbsp; 1337900 |
| ManpowerGroup, Inc. | 99997 | &nbsp;&nbsp; 4194874 |
| MasTec, Inc.<sup>(b)</sup> | 34261 | &nbsp;&nbsp; 5342318 |
| Maximus, Inc. | 26558 | &nbsp;&nbsp; 1925721 |
| Middleby Corp. (The)<sup>(b)(c)</sup> | 8363 | &nbsp;&nbsp; 1222085 |
| MSA Safety, Inc. | 3937 | &nbsp;&nbsp; 641613 |
| MSC Industrial Direct Co., Inc., Class A | 16360 | &nbsp;&nbsp; 1328432 |
| Mueller Industries, Inc. | 15696 | &nbsp;&nbsp; 1222248 |
| Nextracker, Inc., Class A<sup>(b)</sup> | 20532 | &nbsp;&nbsp; 1163959 |
| nVent Electric PLC<sup>(c)</sup> | 19421 | &nbsp;&nbsp; 1277902 |
| Oshkosh Corp. | 36947 | &nbsp;&nbsp; 3664773 |
| Owens Corning | 25264 | &nbsp;&nbsp; 3384113 |
| Parsons Corp.<sup>(b)(c)</sup> | 38605 | &nbsp;&nbsp; 2503148 |
| Paylocity Holding Corp.<sup>(b)</sup> | 2637 | &nbsp;&nbsp; 503403 |
| RB Global, Inc. (Canada)<sup>(c)</sup> | 14412 | &nbsp;&nbsp; 1517584 |
| RBC Bearings, Inc.<sup>(b)</sup> | 1571 | &nbsp;&nbsp; 574782 |
| Regal Rexnord Corp. | 16687 | &nbsp;&nbsp; 2226713 |
| Ryder System, Inc. | 28684 | &nbsp;&nbsp; 4220277 |
| Saia, Inc.<sup>(b)</sup> | 2846 | &nbsp;&nbsp; 752511 |
| Science Applications International Corp. | 23147 | &nbsp;&nbsp; 2674404 |
| Sensata Technologies Holding PLC<sup>(c)</sup> | 48242 | &nbsp;&nbsp; 1257187 |
| Simpson Manufacturing Co., Inc. | 4665 | &nbsp;&nbsp; 726340 |
| Terex Corp. | 42540 | &nbsp;&nbsp; 1914725 |
| Tetra Tech, Inc. | 61692 | &nbsp;&nbsp; 2155518 |
| Timken Co. (The)<sup>(c)</sup> | 20440 | &nbsp;&nbsp; 1399936 |
| Toro Co. (The) | 20501 | &nbsp;&nbsp; 1553566 |
| Trex Co., Inc.<sup>(b)(c)</sup> | 6873 | &nbsp;&nbsp; 383994 |
| UFP Industries, Inc. | 20725 | &nbsp;&nbsp; 2021931 |
| Valmont Industries, Inc. | 4095 | &nbsp;&nbsp; 1302374 |
| Watsco, Inc.<sup>(c)</sup> | 4962 | &nbsp;&nbsp; 2200994 |
| Watts Water Technologies, Inc., Class A | 3537 | &nbsp;&nbsp; 856378 |
| WESCO International, Inc. | 43743 | &nbsp;&nbsp; 7344012 |
| Woodward, Inc. | 6078 | &nbsp;&nbsp; 1314854 |
| XPO, Inc.<sup>(b)(c)</sup> | 24301 | &nbsp;&nbsp; 2766183 |
|  |  | &nbsp;&nbsp; 181045423 |
| **Information Technology-9.46%** | **Information Technology-9.46%** | **Information Technology-9.46%** |
| Allegro MicroSystems, Inc. (Japan)<sup>(b)(c)</sup> | 10173 | &nbsp;&nbsp; 257886 |
| Amkor Technology, Inc. | 106808 | &nbsp;&nbsp; 1924680 |
| AppFolio, Inc., Class A<sup>(b)(c)</sup> | 1224 | &nbsp;&nbsp; 258472 |
| Arrow Electronics, Inc.<sup>(b)</sup> | 89363 | &nbsp;&nbsp; 10578792 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Information Technology-(continued)** | **Information Technology-(continued)** | **Information Technology-(continued)** |
| ASGN, Inc.<sup>(b)(c)</sup> | 19849 | &nbsp;&nbsp; $1048226 |
| Avnet, Inc. | 157397 | &nbsp;&nbsp; 7871424 |
| Belden, Inc. | 7943 | &nbsp;&nbsp; 843547 |
| BILL Holdings, Inc.<sup>(b)(c)</sup> | 9864 | &nbsp;&nbsp; 430860 |
| Blackbaud, Inc.<sup>(b)</sup> | 5821 | &nbsp;&nbsp; 362241 |
| Ciena Corp.<sup>(b)</sup> | 20023 | &nbsp;&nbsp; 1603041 |
| Cirrus Logic, Inc.<sup>(b)</sup> | 6183 | &nbsp;&nbsp; 608160 |
| Cognex Corp. | 9684 | &nbsp;&nbsp; 290230 |
| Coherent Corp.<sup>(b)</sup> | 25877 | &nbsp;&nbsp; 1957078 |
| Commvault Systems, Inc.<sup>(b)</sup> | 2013 | &nbsp;&nbsp; 368681 |
| Crane NXT Co. | 9175 | &nbsp;&nbsp; 491872 |
| DocuSign, Inc.<sup>(b)</sup> | 11935 | &nbsp;&nbsp; 1057560 |
| Dolby Laboratories, Inc., Class A | 5316 | &nbsp;&nbsp; 394766 |
| Dropbox, Inc., Class A<sup>(b)</sup> | 33133 | &nbsp;&nbsp; 956218 |
| Dynatrace, Inc.<sup>(b)</sup> | 10901 | &nbsp;&nbsp; 588763 |
| Entegris, Inc. | 11167 | &nbsp;&nbsp; 767620 |
| Fabrinet (Thailand)<sup>(b)</sup> | 5078 | &nbsp;&nbsp; 1182514 |
| Flex Ltd.<sup>(b)</sup> | 244890 | &nbsp;&nbsp; 10358847 |
| Guidewire Software, Inc.<sup>(b)</sup> | 2004 | &nbsp;&nbsp; 430900 |
| IPG Photonics Corp.<sup>(b)(c)</sup> | 5373 | &nbsp;&nbsp; 356015 |
| Kyndryl Holdings, Inc.<sup>(b)</sup> | 145882 | &nbsp;&nbsp; 5695233 |
| Lattice Semiconductor Corp.<sup>(b)(c)</sup> | 2814 | &nbsp;&nbsp; 126461 |
| Littelfuse, Inc. | 3512 | &nbsp;&nbsp; 720171 |
| Lumentum Holdings, Inc.<sup>(b)(c)</sup> | 7251 | &nbsp;&nbsp; 524102 |
| &nbsp;&nbsp;&nbsp; MACOM Technology Solutions Holdings, <br> Inc.<sup>(b)</sup><br>| 2404 | &nbsp;&nbsp; 292350 |
| Manhattan Associates, Inc.<sup>(b)</sup> | 2039 | &nbsp;&nbsp; 384922 |
| MKS Instruments, Inc. | 14532 | &nbsp;&nbsp; 1194385 |
| Novanta, Inc.<sup>(b)</sup> | 2284 | &nbsp;&nbsp; 282805 |
| Onto Innovation, Inc.<sup>(b)</sup> | 2396 | &nbsp;&nbsp; 220288 |
| Power Integrations, Inc. | 2418 | &nbsp;&nbsp; 120247 |
| Pure Storage, Inc., Class A<sup>(b)(c)</sup> | 21571 | &nbsp;&nbsp; 1155990 |
| Qualys, Inc.<sup>(b)</sup> | 1609 | &nbsp;&nbsp; 222927 |
| Rambus, Inc.<sup>(b)</sup> | 3435 | &nbsp;&nbsp; 183669 |
| Silicon Laboratories, Inc.<sup>(b)(c)</sup> | 1561 | &nbsp;&nbsp; 188147 |
| Synaptics, Inc.<sup>(b)</sup> | 5305 | &nbsp;&nbsp; 311722 |
| TD SYNNEX Corp.<sup>(c)</sup> | 150200 | &nbsp;&nbsp; 18225268 |
| Universal Display Corp. | 1409 | &nbsp;&nbsp; 201980 |
| Vontier Corp. | 29820 | &nbsp;&nbsp; 1066065 |
|  |  | &nbsp;&nbsp; 76105125 |
| **Materials-6.92%** | **Materials-6.92%** | **Materials-6.92%** |
| Alcoa Corp. | 121355 | &nbsp;&nbsp; 3248673 |
| AptarGroup, Inc. | 8055 | &nbsp;&nbsp; 1275912 |
| Ashland, Inc. | 11841 | &nbsp;&nbsp; 586248 |
| ATI, Inc.<sup>(b)</sup> | 28103 | &nbsp;&nbsp; 2238123 |
| Avient Corp. | 26510 | &nbsp;&nbsp; 957806 |
| Axalta Coating Systems Ltd.<sup>(b)(c)</sup> | 51127 | &nbsp;&nbsp; 1574712 |
| Cabot Corp. | 16155 | &nbsp;&nbsp; 1206617 |
| Carpenter Technology Corp.<sup>(c)</sup> | 5203 | &nbsp;&nbsp; 1222705 |
| Cleveland-Cliffs, Inc.<sup>(b)(c)</sup> | 643393 | &nbsp;&nbsp; 3750981 |
| Commercial Metals Co. | 57932 | &nbsp;&nbsp; 2699052 |
| Crown Holdings, Inc. | 43704 | &nbsp;&nbsp; 4304844 |
| Eagle Materials, Inc. | 3552 | &nbsp;&nbsp; 718250 |
| Graphic Packaging Holding Co. | 110195 | &nbsp;&nbsp; 2448533 |
| Greif, Inc., Class A | 33139 | &nbsp;&nbsp; 1842528 |
| Knife River Corp.<sup>(b)</sup> | 10667 | &nbsp;&nbsp; 1003765 |
| Louisiana-Pacific Corp. | 10521 | &nbsp;&nbsp; 947626 |
| NewMarket Corp. | 1749 | &nbsp;&nbsp; 1126461 |
| Olin Corp. | 91920 | &nbsp;&nbsp; 1784167 |
| Reliance, Inc. | 16362 | &nbsp;&nbsp; 4791121 |
| Royal Gold, Inc. | 1523 | &nbsp;&nbsp; 271277 |
| RPM International, Inc. | 20677 | &nbsp;&nbsp; 2353870 |

---

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

------

**Invesco S&P MidCap 400 Revenue ETF (RWK)—(continued)**

May 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Materials-(continued)** | **Materials-(continued)** | **Materials-(continued)** |
| Scotts Miracle-Gro Co. (The) | 18841 | &nbsp;&nbsp; $1122170 |
| Silgan Holdings, Inc. | 38966 | &nbsp;&nbsp; 2145858 |
| Sonoco Products Co. | 45762 | &nbsp;&nbsp; 2084001 |
| United States Steel Corp.<sup>(c)</sup> | 134883 | &nbsp;&nbsp; 7259403 |
| Westlake Corp.<sup>(c)</sup> | 37270 | &nbsp;&nbsp; 2647288 |
|  |  | &nbsp;&nbsp; 55611991 |
| **Real Estate-2.06%** | **Real Estate-2.06%** | **Real Estate-2.06%** |
| Agree Realty Corp. | 2651 | &nbsp;&nbsp; 199620 |
| American Homes 4 Rent, Class A | 16387 | &nbsp;&nbsp; 620248 |
| Brixmor Property Group, Inc. | 16157 | &nbsp;&nbsp; 410549 |
| COPT Defense Properties | 9187 | &nbsp;&nbsp; 252183 |
| Cousins Properties, Inc. | 9613 | &nbsp;&nbsp; 269837 |
| CubeSmart | 8360 | &nbsp;&nbsp; 357474 |
| EastGroup Properties, Inc. | 1149 | &nbsp;&nbsp; 194813 |
| EPR Properties | 4394 | &nbsp;&nbsp; 244702 |
| Equity LifeStyle Properties, Inc. | 7518 | &nbsp;&nbsp; 477919 |
| First Industrial Realty Trust, Inc. | 3879 | &nbsp;&nbsp; 191739 |
| Gaming and Leisure Properties, Inc. | 10038 | &nbsp;&nbsp; 468774 |
| Healthcare Realty Trust, Inc.<sup>(c)</sup> | 25342 | &nbsp;&nbsp; 367459 |
| Independence Realty Trust, Inc.<sup>(c)</sup> | 10078 | &nbsp;&nbsp; 187350 |
| Jones Lang LaSalle, Inc.<sup>(b)</sup> | 30411 | &nbsp;&nbsp; 6772530 |
| Kilroy Realty Corp.<sup>(c)</sup> | 11243 | &nbsp;&nbsp; 362025 |
| Kite Realty Group Trust | 12712 | &nbsp;&nbsp; 281189 |
| Lamar Advertising Co., Class A | 6342 | &nbsp;&nbsp; 764465 |
| National Storage Affiliates Trust | 6727 | &nbsp;&nbsp; 231409 |
| NNN REIT, Inc. | 6702 | &nbsp;&nbsp; 279875 |
| Omega Healthcare Investors, Inc. | 9451 | &nbsp;&nbsp; 349687 |
| Park Hotels & Resorts, Inc.<sup>(c)</sup> | 74006 | &nbsp;&nbsp; 766702 |
| PotlatchDeltic Corp. | 7849 | &nbsp;&nbsp; 308780 |
| Rayonier, Inc. | 15130 | &nbsp;&nbsp; 358581 |
| Rexford Industrial Realty, Inc. | 7822 | &nbsp;&nbsp; 275647 |
| Sabra Health Care REIT, Inc. | 13695 | &nbsp;&nbsp; 239389 |
| STAG Industrial, Inc. | 6967 | &nbsp;&nbsp; 247886 |
| Vornado Realty Trust | 15706 | &nbsp;&nbsp; 591645 |
| W.P. Carey, Inc.<sup>(c)</sup> | 8393 | &nbsp;&nbsp; 526745 |
|  |  | &nbsp;&nbsp; 16599222 |
| **Utilities-1.62%** | **Utilities-1.62%** | **Utilities-1.62%** |
| ALLETE, Inc. | 7690 | &nbsp;&nbsp; 500158 |
| Black Hills Corp. | 11830 | &nbsp;&nbsp; 691700 |
| Essential Utilities, Inc. | 17767 | &nbsp;&nbsp; 684562 |
| IDACORP, Inc.<sup>(c)</sup> | 5249 | &nbsp;&nbsp; 624369 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Utilities-(continued)** | **Utilities-(continued)** | **Utilities-(continued)** |
| National Fuel Gas Co. | 7767 | &nbsp;&nbsp; $641088 |
| New Jersey Resources Corp. | 12469 | &nbsp;&nbsp; 572202 |
| NorthWestern Energy Group, Inc. | 9052 | &nbsp;&nbsp; 500847 |
| OGE Energy Corp. | 22100 | &nbsp;&nbsp; 982787 |
| ONE Gas, Inc. | 9422 | &nbsp;&nbsp; 704389 |
| Ormat Technologies, Inc. | 4033 | &nbsp;&nbsp; 299773 |
| Portland General Electric Co. | 23864 | &nbsp;&nbsp; 1011834 |
| Southwest Gas Holdings, Inc. | 22971 | &nbsp;&nbsp; 1650007 |
| Spire, Inc. | 10966 | &nbsp;&nbsp; 825520 |
| TXNM Energy, Inc. | 12642 | &nbsp;&nbsp; 716675 |
| UGI Corp.<sup>(c)</sup> | 72493 | &nbsp;&nbsp; 2614098 |
|  |  | &nbsp;&nbsp; 13020009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $744,444,208) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $744,444,208) | &nbsp;&nbsp; 803112775 |
| **Money Market Funds-0.07%** | **Money Market Funds-0.07%** | **Money Market Funds-0.07%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.24%<sup>(d)(e)</sup> <br>(Cost $558,472)<br>| 558472 | &nbsp;&nbsp; 558472 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.93% <br>(Cost $745,002,680) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.93% <br>(Cost $745,002,680) | &nbsp;&nbsp; 803671247 |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-15.87%** | **Money Market Funds-15.87%** | **Money Market Funds-15.87%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.29%<sup>(d)(e)(f)</sup><br>| 35364097 | &nbsp;&nbsp; 35364097 |
| Invesco Private Prime Fund, 4.45%<sup>(d)(e)(f)</sup> | 92249698 | &nbsp;&nbsp; 92268148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $127,634,762) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $127,634,762) | &nbsp;&nbsp; 127632245 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-115.80% <br>(Cost $872,637,442) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-115.80% <br>(Cost $872,637,442) | &nbsp;&nbsp; 931303492 |
| OTHER ASSETS LESS LIABILITIES-(15.80)% | OTHER ASSETS LESS LIABILITIES-(15.80)% | &nbsp;&nbsp; (127045519)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $804257973 |

---

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

------

**Invesco S&P MidCap 400 Revenue ETF (RWK)—(continued)**

May 31, 2025

*(Unaudited)*

Investment Abbreviations: <br> REIT -Real Estate Investment Trust

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at May 31, 2025. |
| <sup>(d)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the nine months ended May 31, 2025.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**August 31, 2024**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**May 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & <br> Agency Portfolio, <br> Institutional Class<br>| &nbsp;&nbsp;&nbsp; $128678 | &nbsp;&nbsp;&nbsp; $10613162 | &nbsp;&nbsp;&nbsp; $(10183368)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $558472 | &nbsp;&nbsp;&nbsp; $12364 |
| **Investments Purchased** <br> **with Cash Collateral** <br> **from Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; 28740449 | &nbsp;&nbsp;&nbsp; 255390417 | &nbsp;&nbsp;&nbsp; (248766769)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 35364097 | &nbsp;&nbsp;&nbsp; 1,330,360<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 73657884 | &nbsp;&nbsp;&nbsp; 511011552 | &nbsp;&nbsp;&nbsp; (492380133)<br>| &nbsp;&nbsp;&nbsp; (8710)<br>| &nbsp;&nbsp;&nbsp; (12445)<br>| &nbsp;&nbsp;&nbsp; 92268148 | &nbsp;&nbsp;&nbsp; 3,558,818<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $102527011 | &nbsp;&nbsp;&nbsp; $777015131 | &nbsp;&nbsp;&nbsp; $(751330270)<br>| &nbsp;&nbsp;&nbsp; $(8710)<br>| &nbsp;&nbsp;&nbsp; $(12445)<br>| &nbsp;&nbsp;&nbsp; $128190717 | &nbsp;&nbsp;&nbsp; $4901542 |

---

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

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

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

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of May 31, 2025. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

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

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

------

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

**Invesco S&P SmallCap 600 Revenue ETF (RWJ)**

May 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.90%** | **Common Stocks & Other Equity Interests-99.90%** | **Common Stocks & Other Equity Interests-99.90%** |
| **Communication Services-3.00%** | **Communication Services-3.00%** | **Communication Services-3.00%** |
| Cable One, Inc.<sup>(b)</sup> | 6431 | &nbsp;&nbsp; $941048 |
| CarGurus, Inc.<sup>(b)(c)</sup> | 30754 | &nbsp;&nbsp; 963830 |
| Cars.com, Inc.<sup>(c)</sup> | 66559 | &nbsp;&nbsp; 682230 |
| Cinemark Holdings, Inc.<sup>(b)</sup> | 140841 | &nbsp;&nbsp; 4756201 |
| Cogent Communications Holdings, Inc. | 16000 | &nbsp;&nbsp; 731360 |
| Gogo, Inc.<sup>(b)(c)</sup> | 62526 | &nbsp;&nbsp; 663401 |
| IAC, Inc.<sup>(b)(c)</sup> | 93301 | &nbsp;&nbsp; 3355104 |
| John Wiley & Sons, Inc., Class A<sup>(b)</sup> | 41465 | &nbsp;&nbsp; 1622111 |
| Lumen Technologies, Inc.<sup>(c)</sup> | 2846773 | &nbsp;&nbsp; 11159350 |
| &nbsp;&nbsp;&nbsp; Madison Square Garden Sports Corp., <br> Class A<sup>(c)</sup><br>| 6002 | &nbsp;&nbsp; 1139720 |
| QuinStreet, Inc.<sup>(c)</sup> | 57662 | &nbsp;&nbsp; 880499 |
| Scholastic Corp.<sup>(b)</sup> | 89331 | &nbsp;&nbsp; 1542746 |
| Shenandoah Telecommunications Co.<sup>(b)</sup> | 29151 | &nbsp;&nbsp; 366720 |
| Shutterstock, Inc. | 50979 | &nbsp;&nbsp; 940562 |
| TechTarget, Inc.<sup>(b)(c)</sup> | 18016 | &nbsp;&nbsp; 145749 |
| TEGNA, Inc. | 188573 | &nbsp;&nbsp; 3152940 |
| Telephone and Data Systems, Inc.<sup>(b)</sup> | 156379 | &nbsp;&nbsp; 5373182 |
| Thryv Holdings, Inc.<sup>(b)(c)</sup> | 56010 | &nbsp;&nbsp; 744933 |
| TripAdvisor, Inc.<sup>(c)</sup> | 143611 | &nbsp;&nbsp; 2045021 |
| Yelp, Inc.<sup>(c)</sup> | 43610 | &nbsp;&nbsp; 1664594 |
| Ziff Davis, Inc.<sup>(c)</sup> | 37488 | &nbsp;&nbsp; 1216111 |
|  |  | &nbsp;&nbsp; 44087412 |
| **Consumer Discretionary-25.81%** | **Consumer Discretionary-25.81%** | **Consumer Discretionary-25.81%** |
| Academy Sports & Outdoors, Inc.<sup>(b)</sup> | 147680 | &nbsp;&nbsp; 6041589 |
| Acushnet Holdings Corp.<sup>(b)</sup> | 39839 | &nbsp;&nbsp; 2718613 |
| Adient PLC<sup>(b)(c)</sup> | 1130780 | &nbsp;&nbsp; 17628860 |
| Adtalem Global Education, Inc.<sup>(c)</sup> | 19169 | &nbsp;&nbsp; 2530883 |
| Advance Auto Parts, Inc.<sup>(b)</sup> | 294361 | &nbsp;&nbsp; 14108723 |
| &nbsp;&nbsp;&nbsp; American Axle & Manufacturing Holdings, <br> Inc.<sup>(b)(c)</sup><br>| 1494473 | &nbsp;&nbsp; 6560736 |
| American Eagle Outfitters, Inc.<sup>(b)</sup> | 510096 | &nbsp;&nbsp; 5590652 |
| Asbury Automotive Group, Inc.<sup>(c)</sup> | 76870 | &nbsp;&nbsp; 17519442 |
| BJ's Restaurants, Inc.<sup>(c)</sup> | 43155 | &nbsp;&nbsp; 1925145 |
| Bloomin' Brands, Inc.<sup>(b)</sup> | 516905 | &nbsp;&nbsp; 3943985 |
| Boot Barn Holdings, Inc.<sup>(c)</sup> | 19535 | &nbsp;&nbsp; 3131656 |
| BorgWarner, Inc. | 536448 | &nbsp;&nbsp; 17751064 |
| Brinker International, Inc.<sup>(c)</sup> | 36326 | &nbsp;&nbsp; 6270957 |
| Buckle, Inc. (The) | 36434 | &nbsp;&nbsp; 1552453 |
| Caleres, Inc. | 193593 | &nbsp;&nbsp; 2603826 |
| Carter's, Inc. | 73550 | &nbsp;&nbsp; 2307264 |
| Cavco Industries, Inc.<sup>(c)</sup> | 4140 | &nbsp;&nbsp; 1795083 |
| Century Communities, Inc. | 68390 | &nbsp;&nbsp; 3547389 |
| Champion Homes, Inc.<sup>(c)</sup> | 27662 | &nbsp;&nbsp; 1809095 |
| Cheesecake Factory, Inc. (The)<sup>(b)</sup> | 82846 | &nbsp;&nbsp; 4570614 |
| Cracker Barrel Old Country Store, Inc.<sup>(b)</sup> | 86223 | &nbsp;&nbsp; 4952649 |
| Dana, Inc. | 789555 | &nbsp;&nbsp; 13130300 |
| Dave & Buster's Entertainment, Inc.<sup>(b)(c)</sup> | 122522 | &nbsp;&nbsp; 2690583 |
| Dorman Products, Inc.<sup>(c)</sup> | 16963 | &nbsp;&nbsp; 2193486 |
| Dream Finders Homes, Inc., Class A<sup>(b)(c)</sup> | 200904 | &nbsp;&nbsp; 4190857 |
| Ethan Allen Interiors, Inc.<sup>(b)</sup> | 24829 | &nbsp;&nbsp; 648782 |
| Etsy, Inc.<sup>(c)</sup> | 67222 | &nbsp;&nbsp; 3720738 |
| Foot Locker, Inc.<sup>(b)(c)</sup> | 559017 | &nbsp;&nbsp; 13282244 |
| Fox Factory Holding Corp.<sup>(c)</sup> | 59451 | &nbsp;&nbsp; 1524918 |
| Frontdoor, Inc.<sup>(c)</sup> | 51151 | &nbsp;&nbsp; 2813817 |
| Gentherm, Inc.<sup>(c)</sup> | 50612 | &nbsp;&nbsp; 1384997 |
| G-III Apparel Group Ltd.<sup>(c)</sup> | 131915 | &nbsp;&nbsp; 3832131 |
| Golden Entertainment, Inc. | 27032 | &nbsp;&nbsp; 771223 |
| Green Brick Partners, Inc.<sup>(c)</sup> | 37878 | &nbsp;&nbsp; 2213969 |
| Group 1 Automotive, Inc.<sup>(b)</sup> | 50428 | &nbsp;&nbsp; 21377438 |
| Guess?, Inc.<sup>(b)</sup> | 316242 | &nbsp;&nbsp; 3314216 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Consumer Discretionary-(continued)** | **Consumer Discretionary-(continued)** | **Consumer Discretionary-(continued)** |
| Hanesbrands, Inc.<sup>(b)(c)</sup> | 739020 | &nbsp;&nbsp; $3658149 |
| Helen of Troy Ltd.<sup>(b)(c)</sup> | 40190 | &nbsp;&nbsp; 1080709 |
| Installed Building Products, Inc.<sup>(b)</sup> | 18537 | &nbsp;&nbsp; 2956281 |
| Jack in the Box, Inc.<sup>(b)</sup> | 49995 | &nbsp;&nbsp; 948155 |
| Kohl's Corp.<sup>(b)</sup> | 2050935 | &nbsp;&nbsp; 16674102 |
| Kontoor Brands, Inc. | 45944 | &nbsp;&nbsp; 3151758 |
| La-Z-Boy, Inc.<sup>(b)</sup> | 56538 | &nbsp;&nbsp; 2368377 |
| LCI Industries | 44289 | &nbsp;&nbsp; 3859343 |
| Leggett & Platt, Inc.<sup>(b)</sup> | 590334 | &nbsp;&nbsp; 5348426 |
| LGI Homes, Inc.<sup>(b)(c)</sup> | 33023 | &nbsp;&nbsp; 1654452 |
| M/I Homes, Inc.<sup>(c)</sup> | 42312 | &nbsp;&nbsp; 4510882 |
| MarineMax, Inc.<sup>(b)(c)</sup> | 108322 | &nbsp;&nbsp; 2296426 |
| Meritage Homes Corp. | 97103 | &nbsp;&nbsp; 6176722 |
| Mister Car Wash, Inc.<sup>(b)(c)</sup> | 137461 | &nbsp;&nbsp; 973224 |
| Monarch Casino & Resort, Inc. | 6592 | &nbsp;&nbsp; 552014 |
| Monro, Inc. | 80258 | &nbsp;&nbsp; 1230355 |
| National Vision Holdings, Inc.<sup>(b)(c)</sup> | 169930 | &nbsp;&nbsp; 3366313 |
| Newell Brands, Inc. | 1263379 | &nbsp;&nbsp; 6695909 |
| Oxford Industries, Inc.<sup>(b)</sup> | 28867 | &nbsp;&nbsp; 1549581 |
| Papa John's International, Inc. | 50414 | &nbsp;&nbsp; 2281234 |
| Patrick Industries, Inc.<sup>(b)</sup> | 46906 | &nbsp;&nbsp; 4027349 |
| PENN Entertainment, Inc.<sup>(b)(c)</sup> | 437599 | &nbsp;&nbsp; 6489593 |
| Perdoceo Education Corp. | 30190 | &nbsp;&nbsp; 1027668 |
| PHINIA, Inc. | 86992 | &nbsp;&nbsp; 3775453 |
| Sabre Corp.<sup>(b)(c)</sup> | 1021028 | &nbsp;&nbsp; 2572991 |
| Sally Beauty Holdings, Inc.<sup>(b)(c)</sup> | 441267 | &nbsp;&nbsp; 3843436 |
| Shake Shack, Inc., Class A<sup>(c)</sup> | 15578 | &nbsp;&nbsp; 2021869 |
| Shoe Carnival, Inc.<sup>(b)</sup> | 61056 | &nbsp;&nbsp; 1173496 |
| Signet Jewelers Ltd.<sup>(b)</sup> | 153658 | &nbsp;&nbsp; 10229013 |
| Six Flags Entertainment Corp.<sup>(b)</sup> | 82363 | &nbsp;&nbsp; 2764102 |
| Sonic Automotive, Inc., Class A | 240858 | &nbsp;&nbsp; 16843200 |
| Sonos, Inc.<sup>(c)</sup> | 133806 | &nbsp;&nbsp; 1375526 |
| Standard Motor Products, Inc. | 60138 | &nbsp;&nbsp; 1822181 |
| Steven Madden Ltd. | 94655 | &nbsp;&nbsp; 2333246 |
| Strategic Education, Inc. | 16283 | &nbsp;&nbsp; 1485498 |
| Stride, Inc.<sup>(b)(c)</sup> | 20180 | &nbsp;&nbsp; 3055050 |
| Sturm, Ruger & Co., Inc.<sup>(b)</sup> | 14646 | &nbsp;&nbsp; 530185 |
| Topgolf Callaway Brands Corp.<sup>(b)(c)</sup> | 758307 | &nbsp;&nbsp; 4807666 |
| Tri Pointe Homes, Inc.<sup>(b)(c)</sup> | 155336 | &nbsp;&nbsp; 4579305 |
| Upbound Group, Inc. | 195625 | &nbsp;&nbsp; 4487638 |
| Urban Outfitters, Inc.<sup>(b)(c)</sup> | 115045 | &nbsp;&nbsp; 8041645 |
| Victoria's Secret & Co.<sup>(b)(c)</sup> | 397099 | &nbsp;&nbsp; 8422470 |
| Winnebago Industries, Inc. | 85940 | &nbsp;&nbsp; 2915944 |
| Wolverine World Wide, Inc. | 140338 | &nbsp;&nbsp; 2394166 |
| XPEL, Inc.<sup>(b)(c)(d)</sup> | 14852 | &nbsp;&nbsp; 534226 |
|  |  | &nbsp;&nbsp; 378835705 |
| **Consumer Staples-7.86%** | **Consumer Staples-7.86%** | **Consumer Staples-7.86%** |
| Andersons, Inc. (The) | 296621 | &nbsp;&nbsp; 10533012 |
| B&G Foods, Inc.<sup>(b)</sup> | 282336 | &nbsp;&nbsp; 1188634 |
| Cal-Maine Foods, Inc. | 39390 | &nbsp;&nbsp; 3778683 |
| Central Garden & Pet Co.<sup>(b)(c)</sup> | 47946 | &nbsp;&nbsp; 1728933 |
| Central Garden & Pet Co., Class A<sup>(c)</sup> | 54305 | &nbsp;&nbsp; 1736131 |
| Chefs' Warehouse, Inc. (The)<sup>(c)</sup> | 78298 | &nbsp;&nbsp; 4993846 |
| Edgewell Personal Care Co.<sup>(b)</sup> | 78316 | &nbsp;&nbsp; 2163088 |
| Energizer Holdings, Inc.<sup>(b)</sup> | 105690 | &nbsp;&nbsp; 2461520 |
| Fresh Del Monte Produce, Inc. | 156097 | &nbsp;&nbsp; 5513346 |
| Freshpet, Inc.<sup>(b)(c)</sup> | 12229 | &nbsp;&nbsp; 980277 |
| Grocery Outlet Holding Corp.<sup>(b)(c)</sup> | 390257 | &nbsp;&nbsp; 5299690 |
| Interparfums, Inc.<sup>(b)</sup> | 12262 | &nbsp;&nbsp; 1670330 |
| J&J Snack Foods Corp. | 12566 | &nbsp;&nbsp; 1447226 |
| John B. Sanfilippo & Son, Inc. | 16900 | &nbsp;&nbsp; 1050166 |
| MGP Ingredients, Inc.<sup>(b)</sup> | 24797 | &nbsp;&nbsp; 729528 |

---

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

------

**Invesco S&P SmallCap 600 Revenue ETF (RWJ)—(continued)**

May 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Consumer Staples-(continued)** | **Consumer Staples-(continued)** | **Consumer Staples-(continued)** |
| National Beverage Corp.<sup>(b)</sup> | 31221 | &nbsp;&nbsp; $1412126 |
| PriceSmart, Inc. | 65671 | &nbsp;&nbsp; 7091154 |
| Simply Good Foods Co. (The)<sup>(b)(c)</sup> | 41760 | &nbsp;&nbsp; 1441138 |
| SpartanNash Co. | 519497 | &nbsp;&nbsp; 10109412 |
| Tootsie Roll Industries, Inc.<sup>(b)</sup> | 24744 | &nbsp;&nbsp; 882124 |
| TreeHouse Foods, Inc.<sup>(c)</sup> | 126440 | &nbsp;&nbsp; 2839842 |
| United Natural Foods, Inc.<sup>(c)</sup> | 1254256 | &nbsp;&nbsp; 38342606 |
| Universal Corp. | 60599 | &nbsp;&nbsp; 3962569 |
| USANA Health Sciences, Inc.<sup>(c)</sup> | 28265 | &nbsp;&nbsp; 844275 |
| WD-40 Co. | 2599 | &nbsp;&nbsp; 633194 |
| WK Kellogg Co.<sup>(b)</sup> | 146606 | &nbsp;&nbsp; 2480573 |
|  |  | &nbsp;&nbsp; 115313423 |
| **Energy-8.15%** | **Energy-8.15%** | **Energy-8.15%** |
| Archrock, Inc. | 51053 | &nbsp;&nbsp; 1271220 |
| Atlas Energy Solutions, Inc.<sup>(b)</sup> | 64809 | &nbsp;&nbsp; 787429 |
| Bristow Group, Inc.<sup>(c)</sup> | 48074 | &nbsp;&nbsp; 1406645 |
| Cactus, Inc., Class A | 26863 | &nbsp;&nbsp; 1101383 |
| California Resources Corp. | 74590 | &nbsp;&nbsp; 3294640 |
| Comstock Resources, Inc.<sup>(b)(c)</sup> | 71500 | &nbsp;&nbsp; 1665950 |
| Core Laboratories, Inc.<sup>(b)</sup> | 37291 | &nbsp;&nbsp; 400878 |
| Core Natural Resources, Inc. | 33580 | &nbsp;&nbsp; 2327094 |
| Crescent Energy Co., Class A | 294079 | &nbsp;&nbsp; 2467323 |
| CVR Energy, Inc.<sup>(b)</sup> | 462436 | &nbsp;&nbsp; 10816378 |
| Dorian LPG Ltd. | 21584 | &nbsp;&nbsp; 462113 |
| Helix Energy Solutions Group, Inc.<sup>(c)</sup> | 183880 | &nbsp;&nbsp; 1138217 |
| Helmerich & Payne, Inc. | 117330 | &nbsp;&nbsp; 1789283 |
| Innovex International, Inc.<sup>(b)(c)</sup> | 38667 | &nbsp;&nbsp; 533605 |
| International Seaways, Inc. | 30769 | &nbsp;&nbsp; 1139991 |
| Liberty Energy, Inc., Class A | 321822 | &nbsp;&nbsp; 3729917 |
| Magnolia Oil & Gas Corp., Class A<sup>(b)</sup> | 61383 | &nbsp;&nbsp; 1319735 |
| Northern Oil and Gas, Inc.<sup>(b)</sup> | 80684 | &nbsp;&nbsp; 2144581 |
| Oceaneering International, Inc.<sup>(b)(c)</sup> | 147757 | &nbsp;&nbsp; 2817726 |
| Par Pacific Holdings, Inc.<sup>(c)</sup> | 670050 | &nbsp;&nbsp; 14466380 |
| Patterson-UTI Energy, Inc. | 754420 | &nbsp;&nbsp; 4164398 |
| Peabody Energy Corp. | 363676 | &nbsp;&nbsp; 4785976 |
| ProPetro Holding Corp.<sup>(b)(c)</sup> | 224089 | &nbsp;&nbsp; 1210081 |
| REX American Resources Corp.<sup>(c)</sup> | 19892 | &nbsp;&nbsp; 838249 |
| RPC, Inc.<sup>(b)</sup> | 286965 | &nbsp;&nbsp; 1274125 |
| SM Energy Co.<sup>(b)</sup> | 97239 | &nbsp;&nbsp; 2277337 |
| Talos Energy, Inc.<sup>(b)(c)</sup> | 254281 | &nbsp;&nbsp; 2044419 |
| Tidewater, Inc.<sup>(b)(c)</sup> | 35999 | &nbsp;&nbsp; 1429520 |
| Vital Energy, Inc.<sup>(b)(c)</sup> | 97344 | &nbsp;&nbsp; 1448479 |
| World Kinect Corp.<sup>(b)</sup> | 1648186 | &nbsp;&nbsp; 45143815 |
|  |  | &nbsp;&nbsp; 119696887 |
| **Financials-12.29%** | **Financials-12.29%** | **Financials-12.29%** |
| Acadian Asset Management, Inc. | 23132 | &nbsp;&nbsp; 696505 |
| Ameris Bancorp | 30205 | &nbsp;&nbsp; 1856701 |
| AMERISAFE, Inc. | 6560 | &nbsp;&nbsp; 311403 |
| &nbsp;&nbsp;&nbsp; Apollo Commercial Real Estate Finance, <br> Inc.<sup>(b)</sup><br>| 76375 | &nbsp;&nbsp; 750766 |
| Arbor Realty Trust, Inc.<sup>(b)</sup> | 126010 | &nbsp;&nbsp; 1207176 |
| ARMOUR Residential REIT, Inc.<sup>(b)</sup> | 13787 | &nbsp;&nbsp; 223487 |
| &nbsp;&nbsp;&nbsp; Artisan Partners Asset Management, Inc., <br> Class A<sup>(b)</sup><br>| 33107 | &nbsp;&nbsp; 1334212 |
| Assured Guaranty Ltd.<sup>(b)</sup> | 10488 | &nbsp;&nbsp; 886760 |
| Atlantic Union Bankshares Corp., Class B | 45117 | &nbsp;&nbsp; 1354412 |
| Axos Financial, Inc.<sup>(c)</sup> | 33737 | &nbsp;&nbsp; 2346071 |
| Banc of California, Inc. | 148190 | &nbsp;&nbsp; 2033167 |
| BancFirst Corp. | 8878 | &nbsp;&nbsp; 1098253 |
| Bancorp, Inc. (The)<sup>(c)</sup> | 14855 | &nbsp;&nbsp; 759091 |
| Bank of Hawaii Corp. | 16578 | &nbsp;&nbsp; 1102603 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Financials-(continued)** | **Financials-(continued)** | **Financials-(continued)** |
| BankUnited, Inc. | 65367 | &nbsp;&nbsp; $2221171 |
| Banner Corp. | 14280 | &nbsp;&nbsp; 880362 |
| Berkshire Hills Bancorp, Inc. | 26650 | &nbsp;&nbsp; 659854 |
| BGC Group, Inc., Class A | 285141 | &nbsp;&nbsp; 2646108 |
| &nbsp;&nbsp;&nbsp; Blackstone Mortgage Trust, Inc., <br> Class A<sup>(b)</sup><br>| 92744 | &nbsp;&nbsp; 1751934 |
| Bread Financial Holdings, Inc. | 108767 | &nbsp;&nbsp; 5573221 |
| Brookline Bancorp, Inc. | 64771 | &nbsp;&nbsp; 669084 |
| Capitol Federal Financial, Inc. | 77210 | &nbsp;&nbsp; 440869 |
| Cathay General Bancorp | 35261 | &nbsp;&nbsp; 1511110 |
| Central Pacific Financial Corp. | 13696 | &nbsp;&nbsp; 365683 |
| City Holding Co.<sup>(b)</sup> | 3566 | &nbsp;&nbsp; 420396 |
| Cohen & Steers, Inc. | 7190 | &nbsp;&nbsp; 552480 |
| Community Financial System, Inc.<sup>(b)</sup> | 17702 | &nbsp;&nbsp; 995560 |
| Customers Bancorp, Inc.<sup>(b)(c)</sup> | 30060 | &nbsp;&nbsp; 1531858 |
| CVB Financial Corp.<sup>(b)</sup> | 39648 | &nbsp;&nbsp; 743400 |
| &nbsp;&nbsp;&nbsp; Dime Community Bancshares, Inc., <br> Class B<br>| 25179 | &nbsp;&nbsp; 646093 |
| Donnelley Financial Solutions, Inc.<sup>(c)</sup> | 19369 | &nbsp;&nbsp; 1055223 |
| Eagle Bancorp, Inc. | 36877 | &nbsp;&nbsp; 649035 |
| Ellington Financial, Inc. | 32248 | &nbsp;&nbsp; 405357 |
| Employers Holdings, Inc. | 19535 | &nbsp;&nbsp; 950768 |
| Encore Capital Group, Inc.<sup>(b)(c)</sup> | 42955 | &nbsp;&nbsp; 1627995 |
| Enova International, Inc.<sup>(c)</sup> | 31795 | &nbsp;&nbsp; 2946443 |
| EVERTEC, Inc. | 25641 | &nbsp;&nbsp; 928973 |
| EZCORP, Inc., Class A<sup>(b)(c)</sup> | 95022 | &nbsp;&nbsp; 1278046 |
| FB Financial Corp. | 17872 | &nbsp;&nbsp; 780113 |
| First Bancorp | 75202 | &nbsp;&nbsp; 1502536 |
| First Bancorp/Southern Pines NC | 14826 | &nbsp;&nbsp; 613352 |
| First Commonwealth Financial Corp. | 48625 | &nbsp;&nbsp; 759523 |
| First Financial Bancorp | 53776 | &nbsp;&nbsp; 1299228 |
| First Hawaiian, Inc.<sup>(b)</sup> | 51498 | &nbsp;&nbsp; 1229772 |
| Franklin BSP Realty Trust, Inc. | 45048 | &nbsp;&nbsp; 496879 |
| Fulton Financial Corp.<sup>(b)</sup> | 110956 | &nbsp;&nbsp; 1913991 |
| Genworth Financial, Inc., Class A<sup>(c)</sup> | 1212166 | &nbsp;&nbsp; 8545770 |
| Goosehead Insurance, Inc., Class A<sup>(b)</sup> | 2800 | &nbsp;&nbsp; 303128 |
| &nbsp;&nbsp;&nbsp; HA Sustainable Infrastructure Capital, <br> Inc.<sup>(b)</sup><br>| 14490 | &nbsp;&nbsp; 362975 |
| Hanmi Financial Corp. | 21362 | &nbsp;&nbsp; 489617 |
| HCI Group, Inc.<sup>(b)</sup> | 5666 | &nbsp;&nbsp; 956251 |
| Heritage Financial Corp. | 14672 | &nbsp;&nbsp; 343031 |
| Hilltop Holdings, Inc. | 53198 | &nbsp;&nbsp; 1586364 |
| Hope Bancorp, Inc. | 105863 | &nbsp;&nbsp; 1062865 |
| Horace Mann Educators Corp. | 42422 | &nbsp;&nbsp; 1842387 |
| Independent Bank Corp.<sup>(b)</sup> | 17053 | &nbsp;&nbsp; 1048760 |
| Jackson Financial, Inc., Class A | 43797 | &nbsp;&nbsp; 3587412 |
| KKR Real Estate Finance Trust, Inc.<sup>(b)</sup> | 58601 | &nbsp;&nbsp; 523307 |
| Lakeland Financial Corp.<sup>(b)</sup> | 7579 | &nbsp;&nbsp; 453755 |
| Lincoln National Corp. | 642247 | &nbsp;&nbsp; 21284066 |
| Mercury General Corp. | 109350 | &nbsp;&nbsp; 7050888 |
| Moelis & Co., Class A | 21394 | &nbsp;&nbsp; 1221811 |
| Mr. Cooper Group, Inc.<sup>(b)(c)</sup> | 24275 | &nbsp;&nbsp; 3144341 |
| National Bank Holdings Corp., Class A | 16602 | &nbsp;&nbsp; 600162 |
| Navient Corp. | 355175 | &nbsp;&nbsp; 4773552 |
| NBT Bancorp, Inc. | 19737 | &nbsp;&nbsp; 825993 |
| NCR Atleos Corp.<sup>(b)(c)</sup> | 189645 | &nbsp;&nbsp; 5027489 |
| New York Mortgage Trust, Inc. | 83871 | &nbsp;&nbsp; 547678 |
| NMI Holdings, Inc., Class A<sup>(b)(c)</sup> | 20164 | &nbsp;&nbsp; 800914 |
| Northwest Bancshares, Inc. | 68733 | &nbsp;&nbsp; 844041 |
| OFG Bancorp | 23553 | &nbsp;&nbsp; 968970 |
| Pacific Premier Bancorp, Inc. | 44949 | &nbsp;&nbsp; 952919 |
| Palomar Holdings, Inc.<sup>(c)</sup> | 4660 | &nbsp;&nbsp; 799050 |

---

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

------

**Invesco S&P SmallCap 600 Revenue ETF (RWJ)—(continued)**

May 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Financials-(continued)** | **Financials-(continued)** | **Financials-(continued)** |
| Park National Corp. | 4658 | &nbsp;&nbsp; $757204 |
| Pathward Financial, Inc. | 11656 | &nbsp;&nbsp; 909751 |
| Payoneer Global, Inc.<sup>(c)</sup> | 145473 | &nbsp;&nbsp; 990671 |
| PennyMac Mortgage Investment Trust | 101590 | &nbsp;&nbsp; 1247525 |
| Piper Sandler Cos. | 6400 | &nbsp;&nbsp; 1609280 |
| PJT Partners, Inc., Class A<sup>(b)</sup> | 11398 | &nbsp;&nbsp; 1717223 |
| PRA Group, Inc.<sup>(c)</sup> | 64307 | &nbsp;&nbsp; 912516 |
| Preferred Bank<sup>(b)</sup> | 6881 | &nbsp;&nbsp; 575320 |
| ProAssurance Corp.<sup>(c)</sup> | 81513 | &nbsp;&nbsp; 1890286 |
| PROG Holdings, Inc. | 97802 | &nbsp;&nbsp; 2819632 |
| Provident Financial Services, Inc. | 73751 | &nbsp;&nbsp; 1231642 |
| Radian Group, Inc. | 44801 | &nbsp;&nbsp; 1529954 |
| Ready Capital Corp.<sup>(b)</sup> | 193341 | &nbsp;&nbsp; 864234 |
| Redwood Trust, Inc.<sup>(b)</sup> | 172655 | &nbsp;&nbsp; 940970 |
| Renasant Corp. | 34713 | &nbsp;&nbsp; 1216691 |
| S&T Bancorp, Inc.<sup>(b)</sup> | 16125 | &nbsp;&nbsp; 591143 |
| Safety Insurance Group, Inc. | 15797 | &nbsp;&nbsp; 1297566 |
| Seacoast Banking Corp. of Florida<sup>(b)</sup> | 33963 | &nbsp;&nbsp; 877264 |
| ServisFirst Bancshares, Inc. | 12813 | &nbsp;&nbsp; 953672 |
| Simmons First National Corp., Class A | 78341 | &nbsp;&nbsp; 1469677 |
| SiriusPoint Ltd. (Sweden)<sup>(c)</sup> | 199381 | &nbsp;&nbsp; 3905874 |
| Southside Bancshares, Inc.<sup>(b)</sup> | 16911 | &nbsp;&nbsp; 476721 |
| Stellar Bancorp, Inc.<sup>(b)</sup> | 24667 | &nbsp;&nbsp; 664036 |
| StepStone Group, Inc., Class A | 23782 | &nbsp;&nbsp; 1375789 |
| Stewart Information Services Corp. | 37603 | &nbsp;&nbsp; 2268965 |
| StoneX Group, Inc.<sup>(c)</sup> | 28745 | &nbsp;&nbsp; 2433408 |
| Tompkins Financial Corp. | 7403 | &nbsp;&nbsp; 454544 |
| Triumph Financial, Inc.<sup>(b)(c)</sup> | 8877 | &nbsp;&nbsp; 512824 |
| Trupanion, Inc.<sup>(b)(c)</sup> | 40689 | &nbsp;&nbsp; 1920114 |
| TrustCo Bank Corp. | 9205 | &nbsp;&nbsp; 285723 |
| Trustmark Corp. | 30732 | &nbsp;&nbsp; 1059025 |
| Two Harbors Investment Corp.<sup>(b)</sup> | 68032 | &nbsp;&nbsp; 720459 |
| United Community Banks, Inc. | 56147 | &nbsp;&nbsp; 1613665 |
| &nbsp;&nbsp;&nbsp; United Fire Group, Inc., (Acquired <br> 08/27/2020 - 04/04/2025; <br> Cost $1,079,449)<sup>(e)</sup><br>| 47943 | &nbsp;&nbsp; 1363978 |
| Veritex Holdings, Inc. | 35335 | &nbsp;&nbsp; 855107 |
| Virtu Financial, Inc., Class A | 82753 | &nbsp;&nbsp; 3325843 |
| Virtus Investment Partners, Inc. | 5453 | &nbsp;&nbsp; 930827 |
| WaFd, Inc. | 57928 | &nbsp;&nbsp; 1646314 |
| Walker & Dunlop, Inc. | 13861 | &nbsp;&nbsp; 949340 |
| Westamerica Bancorporation<sup>(b)</sup> | 6654 | &nbsp;&nbsp; 319725 |
| WisdomTree, Inc.<sup>(b)</sup> | 53531 | &nbsp;&nbsp; 505333 |
| World Acceptance Corp.<sup>(c)</sup> | 5117 | &nbsp;&nbsp; 790474 |
| WSFS Financial Corp. | 30103 | &nbsp;&nbsp; 1592148 |
|  |  | &nbsp;&nbsp; 180326977 |
| **Health Care-5.79%** | **Health Care-5.79%** | **Health Care-5.79%** |
| Acadia Pharmaceuticals, Inc.<sup>(c)</sup> | 61548 | &nbsp;&nbsp; 1327590 |
| AdaptHealth Corp.<sup>(b)(c)</sup> | 368011 | &nbsp;&nbsp; 3304739 |
| Addus HomeCare Corp.<sup>(b)(c)</sup> | 13261 | &nbsp;&nbsp; 1470778 |
| ADMA Biologics, Inc.<sup>(c)</sup> | 24794 | &nbsp;&nbsp; 491913 |
| Alkermes PLC<sup>(c)</sup> | 50161 | &nbsp;&nbsp; 1535428 |
| AMN Healthcare Services, Inc.<sup>(c)</sup> | 127573 | &nbsp;&nbsp; 2693066 |
| Amphastar Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 30114 | &nbsp;&nbsp; 774231 |
| ANI Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 10429 | &nbsp;&nbsp; 612391 |
| Arcus Biosciences, Inc.<sup>(b)(c)</sup> | 28467 | &nbsp;&nbsp; 254210 |
| Arrowhead Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 902 | &nbsp;&nbsp; 14495 |
| Artivion, Inc.<sup>(b)(c)</sup> | 17798 | &nbsp;&nbsp; 526465 |
| Astrana Health, Inc.<sup>(b)(c)</sup> | 73665 | &nbsp;&nbsp; 1826155 |
| Avanos Medical, Inc.<sup>(c)</sup> | 50775 | &nbsp;&nbsp; 638242 |
| Azenta, Inc.<sup>(b)(c)</sup> | 18344 | &nbsp;&nbsp; 490152 |
| BioLife Solutions, Inc.<sup>(b)(c)</sup> | 4721 | &nbsp;&nbsp; 103295 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Health Care-(continued)** | **Health Care-(continued)** | **Health Care-(continued)** |
| Catalyst Pharmaceuticals, Inc.<sup>(c)</sup> | 24963 | &nbsp;&nbsp; $623076 |
| Certara, Inc.<sup>(b)(c)</sup> | 37287 | &nbsp;&nbsp; 423580 |
| Collegium Pharmaceutical, Inc.<sup>(c)</sup> | 23083 | &nbsp;&nbsp; 672639 |
| Concentra Group Holdings Parent, Inc. | 99036 | &nbsp;&nbsp; 2142149 |
| CONMED Corp.<sup>(b)</sup> | 23577 | &nbsp;&nbsp; 1337995 |
| Corcept Therapeutics, Inc.<sup>(b)(c)</sup> | 13108 | &nbsp;&nbsp; 1016657 |
| CorVel Corp.<sup>(c)</sup> | 8878 | &nbsp;&nbsp; 987855 |
| Cytek Biosciences, Inc.<sup>(b)(c)</sup> | 51505 | &nbsp;&nbsp; 142669 |
| Dynavax Technologies Corp.<sup>(b)(c)</sup> | 21620 | &nbsp;&nbsp; 211660 |
| Embecta Corp. | 88153 | &nbsp;&nbsp; 928251 |
| Enovis Corp.<sup>(b)(c)</sup> | 62147 | &nbsp;&nbsp; 1945201 |
| Fortrea Holdings, Inc.<sup>(b)(c)</sup> | 292319 | &nbsp;&nbsp; 1256972 |
| Glaukos Corp.<sup>(c)</sup> | 4012 | &nbsp;&nbsp; 378291 |
| Harmony Biosciences Holdings, Inc.<sup>(c)</sup> | 23037 | &nbsp;&nbsp; 794777 |
| HealthStream, Inc. | 9654 | &nbsp;&nbsp; 270505 |
| ICU Medical, Inc.<sup>(c)</sup> | 18094 | &nbsp;&nbsp; 2440157 |
| Innoviva, Inc.<sup>(b)(c)</sup> | 23086 | &nbsp;&nbsp; 451793 |
| Inspire Medical Systems, Inc.<sup>(c)</sup> | 5325 | &nbsp;&nbsp; 735915 |
| Integer Holdings Corp.<sup>(b)(c)</sup> | 15725 | &nbsp;&nbsp; 1867501 |
| Integra LifeSciences Holdings Corp.<sup>(b)(c)</sup> | 77826 | &nbsp;&nbsp; 985277 |
| Krystal Biotech, Inc.<sup>(b)(c)</sup> | 1760 | &nbsp;&nbsp; 221690 |
| LeMaitre Vascular, Inc. | 2821 | &nbsp;&nbsp; 231886 |
| Ligand Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 1777 | &nbsp;&nbsp; 181592 |
| Merit Medical Systems, Inc.<sup>(c)</sup> | 14859 | &nbsp;&nbsp; 1412051 |
| Mesa Laboratories, Inc. | 1915 | &nbsp;&nbsp; 192687 |
| Myriad Genetics, Inc.<sup>(c)</sup> | 86691 | &nbsp;&nbsp; 363235 |
| National HealthCare Corp.<sup>(b)</sup> | 14802 | &nbsp;&nbsp; 1541480 |
| Neogen Corp.<sup>(b)(c)</sup> | 103774 | &nbsp;&nbsp; 608116 |
| NeoGenomics, Inc.<sup>(b)(c)</sup> | 69318 | &nbsp;&nbsp; 504635 |
| &nbsp;&nbsp;&nbsp; OmniAb Operations, Inc., Rts., expiring <br> 11/02/2027<sup>(b)(c)(f)</sup><br>| 785 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; OmniAb Operations, Inc., Rts., expiring <br> 11/02/2027<sup>(c)(f)</sup><br>| 785 | &nbsp;&nbsp; 0 |
| Omnicell, Inc.<sup>(c)</sup> | 35926 | &nbsp;&nbsp; 1091073 |
| Organon & Co.<sup>(b)</sup> | 468165 | &nbsp;&nbsp; 4316481 |
| Owens & Minor, Inc.<sup>(b)(c)</sup> | 1228284 | &nbsp;&nbsp; 8106674 |
| Pacira BioSciences, Inc.<sup>(b)(c)</sup> | 34091 | &nbsp;&nbsp; 880911 |
| Pediatrix Medical Group, Inc.<sup>(c)</sup> | 155386 | &nbsp;&nbsp; 2198712 |
| Phibro Animal Health Corp., Class A | 54006 | &nbsp;&nbsp; 1318827 |
| Premier, Inc., Class A | 70049 | &nbsp;&nbsp; 1609726 |
| Prestige Consumer Healthcare, Inc.<sup>(c)</sup> | 14539 | &nbsp;&nbsp; 1245556 |
| Privia Health Group, Inc.<sup>(c)</sup> | 77677 | &nbsp;&nbsp; 1767929 |
| Progyny, Inc.<sup>(b)(c)</sup> | 62526 | &nbsp;&nbsp; 1344309 |
| Protagonist Therapeutics, Inc.<sup>(b)(c)</sup> | 8158 | &nbsp;&nbsp; 387260 |
| QuidelOrtho Corp.<sup>(b)(c)</sup> | 81043 | &nbsp;&nbsp; 2485589 |
| RadNet, Inc.<sup>(b)(c)</sup> | 41545 | &nbsp;&nbsp; 2388422 |
| Schrodinger, Inc.<sup>(b)(c)</sup> | 9665 | &nbsp;&nbsp; 208957 |
| Select Medical Holdings Corp. | 431314 | &nbsp;&nbsp; 6594791 |
| Simulations Plus, Inc.<sup>(b)</sup> | 2862 | &nbsp;&nbsp; 91140 |
| &nbsp;&nbsp;&nbsp; STAAR Surgical Co., (Acquired <br> 09/15/2023 - 02/03/2025; <br> Cost $619,723)<sup>(b)(c)(e)</sup><br>| 18750 | &nbsp;&nbsp; 333938 |
| Supernus Pharmaceuticals, Inc.<sup>(c)</sup> | 22823 | &nbsp;&nbsp; 723489 |
| Tandem Diabetes Care, Inc.<sup>(b)(c)</sup> | 53949 | &nbsp;&nbsp; 1069269 |
| Teleflex, Inc. | 24950 | &nbsp;&nbsp; 3050637 |
| TG Therapeutics, Inc.<sup>(b)(c)</sup> | 9339 | &nbsp;&nbsp; 327892 |
| TransMedics Group, Inc.<sup>(b)(c)</sup> | 7079 | &nbsp;&nbsp; 899882 |
| U.S. Physical Therapy, Inc. | 9190 | &nbsp;&nbsp; 689158 |
| UFP Technologies, Inc.<sup>(b)(c)</sup> | 2498 | &nbsp;&nbsp; 585032 |
| Vericel Corp.<sup>(b)(c)</sup> | 5388 | &nbsp;&nbsp; 222497 |

---

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

------

**Invesco S&P SmallCap 600 Revenue ETF (RWJ)—(continued)**

May 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Health Care-(continued)** | **Health Care-(continued)** | **Health Care-(continued)** |
| Vir Biotechnology, Inc.<sup>(b)(c)</sup> | 10859 | &nbsp;&nbsp; $53643 |
| Xencor, Inc.<sup>(b)(c)</sup> | 8880 | &nbsp;&nbsp; 71040 |
|  |  | &nbsp;&nbsp; 84996276 |
| **Industrials-18.74%** | **Industrials-18.74%** | **Industrials-18.74%** |
| AAR Corp.<sup>(c)</sup> | 41646 | &nbsp;&nbsp; 2557481 |
| ABM Industries, Inc. | 199485 | &nbsp;&nbsp; 10502885 |
| AeroVironment, Inc.<sup>(b)(c)</sup> | 6522 | &nbsp;&nbsp; 1161112 |
| Air Lease Corp., Class A | 64555 | &nbsp;&nbsp; 3719013 |
| Alamo Group, Inc. | 9474 | &nbsp;&nbsp; 1876231 |
| Albany International Corp., Class A | 18214 | &nbsp;&nbsp; 1203399 |
| Allegiant Travel Co.<sup>(b)</sup> | 49261 | &nbsp;&nbsp; 2737926 |
| Amentum Holdings, Inc.<sup>(c)</sup> | 573274 | &nbsp;&nbsp; 11843841 |
| American Woodmark Corp.<sup>(c)</sup> | 32461 | &nbsp;&nbsp; 1829827 |
| Apogee Enterprises, Inc. | 31216 | &nbsp;&nbsp; 1206498 |
| ArcBest Corp.<sup>(b)</sup> | 61816 | &nbsp;&nbsp; 3875245 |
| Arcosa, Inc. | 35584 | &nbsp;&nbsp; 3069832 |
| Armstrong World Industries, Inc. | 11127 | &nbsp;&nbsp; 1731695 |
| Astec Industries, Inc. | 39696 | &nbsp;&nbsp; 1559656 |
| AZZ, Inc. | 19517 | &nbsp;&nbsp; 1769997 |
| Boise Cascade Co. | 74526 | &nbsp;&nbsp; 6474819 |
| Brady Corp., Class A | 21958 | &nbsp;&nbsp; 1532010 |
| CoreCivic, Inc.<sup>(c)</sup> | 104823 | &nbsp;&nbsp; 2301913 |
| CSG Systems International, Inc. | 21177 | &nbsp;&nbsp; 1398953 |
| CSW Industrials, Inc. | 3133 | &nbsp;&nbsp; 958040 |
| Deluxe Corp. | 145970 | &nbsp;&nbsp; 2082992 |
| DNOW, Inc.<sup>(c)</sup> | 171166 | &nbsp;&nbsp; 2468214 |
| DXP Enterprises, Inc.<sup>(c)</sup> | 22745 | &nbsp;&nbsp; 1880557 |
| Dycom Industries, Inc.<sup>(c)</sup> | 34468 | &nbsp;&nbsp; 7924883 |
| Enerpac Tool Group Corp. | 14502 | &nbsp;&nbsp; 621846 |
| Enpro, Inc. | 6572 | &nbsp;&nbsp; 1216740 |
| Enviri Corp.<sup>(b)(c)</sup> | 396006 | &nbsp;&nbsp; 3227449 |
| ESCO Technologies, Inc. | 7250 | &nbsp;&nbsp; 1313990 |
| Everus Construction Group, Inc.<sup>(c)</sup> | 79196 | &nbsp;&nbsp; 4586240 |
| Federal Signal Corp.<sup>(b)</sup> | 25399 | &nbsp;&nbsp; 2389284 |
| Forward Air Corp.<sup>(b)(c)</sup> | 150933 | &nbsp;&nbsp; 2532656 |
| Franklin Electric Co., Inc. | 21843 | &nbsp;&nbsp; 1887017 |
| Gates Industrial Corp. PLC<sup>(b)(c)</sup> | 195123 | &nbsp;&nbsp; 4126851 |
| GEO Group, Inc. (The)<sup>(b)(c)</sup> | 100709 | &nbsp;&nbsp; 2733242 |
| Gibraltar Industries, Inc.<sup>(c)</sup> | 22052 | &nbsp;&nbsp; 1291806 |
| GMS, Inc.<sup>(b)(c)</sup> | 87032 | &nbsp;&nbsp; 6590933 |
| Granite Construction, Inc.<sup>(b)</sup> | 60291 | &nbsp;&nbsp; 5393030 |
| Greenbrier Cos., Inc. (The) | 70762 | &nbsp;&nbsp; 3189243 |
| Griffon Corp. | 40843 | &nbsp;&nbsp; 2807956 |
| Hayward Holdings, Inc.<sup>(c)</sup> | 80537 | &nbsp;&nbsp; 1123491 |
| Healthcare Services Group, Inc.<sup>(c)</sup> | 170471 | &nbsp;&nbsp; 2403641 |
| Heartland Express, Inc.<sup>(b)</sup> | 120085 | &nbsp;&nbsp; 1074761 |
| Heidrick & Struggles International, Inc. | 27486 | &nbsp;&nbsp; 1200039 |
| Hertz Global Holdings, Inc.<sup>(b)(c)</sup> | 2586405 | &nbsp;&nbsp; 16940953 |
| Hillenbrand, Inc. | 127982 | &nbsp;&nbsp; 2500768 |
| HNI Corp. | 61860 | &nbsp;&nbsp; 2878346 |
| Hub Group, Inc., Class A | 114548 | &nbsp;&nbsp; 3861413 |
| Insteel Industries, Inc. | 21821 | &nbsp;&nbsp; 764171 |
| Interface, Inc. | 75255 | &nbsp;&nbsp; 1511873 |
| JBT Marel Corp. | 14979 | &nbsp;&nbsp; 1719739 |
| JetBlue Airways Corp.<sup>(b)(c)</sup> | 1834654 | &nbsp;&nbsp; 9265003 |
| Kadant, Inc.<sup>(b)</sup> | 3262 | &nbsp;&nbsp; 1023974 |
| Kennametal, Inc. | 103304 | &nbsp;&nbsp; 2224135 |
| Korn Ferry | 44382 | &nbsp;&nbsp; 3018420 |
| &nbsp;&nbsp;&nbsp; Kratos Defense & Security Solutions, <br> Inc.<sup>(b)(c)</sup><br>| 41173 | &nbsp;&nbsp; 1518872 |
| Lindsay Corp. | 5308 | &nbsp;&nbsp; 739935 |
| Liquidity Services, Inc.<sup>(b)(c)</sup> | 15091 | &nbsp;&nbsp; 352677 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Industrials-(continued)** | **Industrials-(continued)** | **Industrials-(continued)** |
| Marten Transport Ltd. | 74531 | &nbsp;&nbsp; $971884 |
| MasterBrand, Inc.<sup>(c)</sup> | 215771 | &nbsp;&nbsp; 2200864 |
| Matson, Inc.<sup>(b)</sup> | 27836 | &nbsp;&nbsp; 3141293 |
| Matthews International Corp., Class A<sup>(b)</sup> | 82513 | &nbsp;&nbsp; 1769904 |
| Mercury Systems, Inc.<sup>(b)(c)</sup> | 22724 | &nbsp;&nbsp; 1119157 |
| MillerKnoll, Inc. | 197506 | &nbsp;&nbsp; 3331926 |
| Moog, Inc., Class A | 22881 | &nbsp;&nbsp; 4240078 |
| Mueller Water Products, Inc., Class A | 54903 | &nbsp;&nbsp; 1346771 |
| MYR Group, Inc.<sup>(c)</sup> | 32398 | &nbsp;&nbsp; 5081626 |
| National Presto Industries, Inc. | 4316 | &nbsp;&nbsp; 369665 |
| NV5 Global, Inc.<sup>(c)</sup> | 58599 | &nbsp;&nbsp; 1295038 |
| OPENLANE, Inc.<sup>(b)(c)</sup> | 90562 | &nbsp;&nbsp; 2076587 |
| Pitney Bowes, Inc. | 302911 | &nbsp;&nbsp; 3119983 |
| Powell Industries, Inc.<sup>(b)</sup> | 6790 | &nbsp;&nbsp; 1151516 |
| Proto Labs, Inc.<sup>(c)</sup> | 14526 | &nbsp;&nbsp; 537171 |
| Pursuit Attractions and Hospitality, Inc.<sup>(c)</sup> | 38527 | &nbsp;&nbsp; 1074518 |
| Quanex Building Products Corp.<sup>(b)</sup> | 83009 | &nbsp;&nbsp; 1388741 |
| Resideo Technologies, Inc.<sup>(b)(c)</sup> | 427664 | &nbsp;&nbsp; 8852645 |
| Robert Half, Inc.<sup>(b)</sup> | 119539 | &nbsp;&nbsp; 5473691 |
| Rush Enterprises, Inc., Class A | 157966 | &nbsp;&nbsp; 7843012 |
| RXO, Inc.<sup>(b)(c)</sup> | 270988 | &nbsp;&nbsp; 4208444 |
| Schneider National, Inc., Class B | 242650 | &nbsp;&nbsp; 5622200 |
| SkyWest, Inc.<sup>(c)</sup> | 46854 | &nbsp;&nbsp; 4753338 |
| SPX Technologies, Inc.<sup>(c)</sup> | 15996 | &nbsp;&nbsp; 2432832 |
| Standex International Corp. | 4322 | &nbsp;&nbsp; 652363 |
| Sun Country Airlines Holdings, Inc.<sup>(b)(c)</sup> | 92066 | &nbsp;&nbsp; 1066124 |
| Sunrun, Inc.<sup>(b)(c)</sup> | 333404 | &nbsp;&nbsp; 2497196 |
| Tennant Co. | 16674 | &nbsp;&nbsp; 1240879 |
| Titan International, Inc.<sup>(b)(c)</sup> | 242715 | &nbsp;&nbsp; 1757257 |
| Trinity Industries, Inc. | 114244 | &nbsp;&nbsp; 2940641 |
| Triumph Group, Inc.<sup>(c)</sup> | 52846 | &nbsp;&nbsp; 1362898 |
| UniFirst Corp. | 13304 | &nbsp;&nbsp; 2508602 |
| Verra Mobility Corp., Class A<sup>(c)</sup> | 47947 | &nbsp;&nbsp; 1133947 |
| Vestis Corp. | 272543 | &nbsp;&nbsp; 1678865 |
| Vicor Corp.<sup>(b)(c)</sup> | 7218 | &nbsp;&nbsp; 314993 |
| Werner Enterprises, Inc.<sup>(b)</sup> | 109130 | &nbsp;&nbsp; 2831923 |
| WillScot Holdings Corp. | 86149 | &nbsp;&nbsp; 2321715 |
| Worthington Enterprises, Inc. | 31016 | &nbsp;&nbsp; 1827153 |
| Zurn Elkay Water Solutions Corp. | 51450 | &nbsp;&nbsp; 1861975 |
|  |  | &nbsp;&nbsp; 275096928 |
| **Information Technology-8.54%** | **Information Technology-8.54%** | **Information Technology-8.54%** |
| A10 Networks, Inc. | 14336 | &nbsp;&nbsp; 247439 |
| ACI Worldwide, Inc.<sup>(c)</sup> | 33331 | &nbsp;&nbsp; 1541892 |
| Adeia, Inc. | 28752 | &nbsp;&nbsp; 369176 |
| Advanced Energy Industries, Inc. | 15158 | &nbsp;&nbsp; 1739835 |
| Agilysys, Inc.<sup>(b)(c)</sup> | 3826 | &nbsp;&nbsp; 405212 |
| Alarm.com Holdings, Inc.<sup>(b)(c)</sup> | 17135 | &nbsp;&nbsp; 983549 |
| Alpha & Omega Semiconductor Ltd.<sup>(c)</sup> | 27252 | &nbsp;&nbsp; 578287 |
| Arlo Technologies, Inc.<sup>(c)</sup> | 51661 | &nbsp;&nbsp; 739785 |
| Axcelis Technologies, Inc.<sup>(b)(c)</sup> | 18494 | &nbsp;&nbsp; 1041952 |
| Badger Meter, Inc. | 4591 | &nbsp;&nbsp; 1139578 |
| Benchmark Electronics, Inc. | 73940 | &nbsp;&nbsp; 2700289 |
| BlackLine, Inc.<sup>(c)</sup> | 14619 | &nbsp;&nbsp; 817641 |
| Box, Inc., Class A<sup>(b)(c)</sup> | 37767 | &nbsp;&nbsp; 1428348 |
| Calix, Inc.<sup>(c)</sup> | 27487 | &nbsp;&nbsp; 1270999 |
| CEVA, Inc.<sup>(b)(c)</sup> | 3791 | &nbsp;&nbsp; 71119 |
| CleanSpark, Inc.<sup>(b)(c)</sup> | 62153 | &nbsp;&nbsp; 536380 |
| Clear Secure, Inc., Class A | 33243 | &nbsp;&nbsp; 822764 |
| Cohu, Inc.<sup>(c)</sup> | 26140 | &nbsp;&nbsp; 446210 |
| Corsair Gaming, Inc.<sup>(b)(c)</sup> | 130309 | &nbsp;&nbsp; 1145416 |
| CTS Corp. | 12942 | &nbsp;&nbsp; 526610 |
| Digi International, Inc.<sup>(c)</sup> | 15554 | &nbsp;&nbsp; 504105 |

---

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

------

**Invesco S&P SmallCap 600 Revenue ETF (RWJ)—(continued)**

May 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Information Technology-(continued)** | **Information Technology-(continued)** | **Information Technology-(continued)** |
| DigitalOcean Holdings, Inc.<sup>(b)(c)</sup> | 23110 | &nbsp;&nbsp; $654013 |
| Diodes, Inc.<sup>(b)(c)</sup> | 29964 | &nbsp;&nbsp; 1330402 |
| DoubleVerify Holdings, Inc.<sup>(c)</sup> | 48238 | &nbsp;&nbsp; 662790 |
| DXC Technology Co.<sup>(c)</sup> | 834725 | &nbsp;&nbsp; 12687820 |
| ePlus, Inc.<sup>(c)</sup> | 35634 | &nbsp;&nbsp; 2543199 |
| Extreme Networks, Inc.<sup>(c)</sup> | 76339 | &nbsp;&nbsp; 1196232 |
| FormFactor, Inc.<sup>(c)</sup> | 26634 | &nbsp;&nbsp; 795025 |
| Grid Dynamics Holdings, Inc.<sup>(c)</sup> | 22548 | &nbsp;&nbsp; 282526 |
| Harmonic, Inc.<sup>(b)(c)</sup> | 72106 | &nbsp;&nbsp; 650396 |
| Ichor Holdings Ltd.<sup>(c)</sup> | 36365 | &nbsp;&nbsp; 573840 |
| Impinj, Inc.<sup>(b)(c)</sup> | 4370 | &nbsp;&nbsp; 498573 |
| Insight Enterprises, Inc.<sup>(c)</sup> | 62540 | &nbsp;&nbsp; 8154591 |
| InterDigital, Inc.<sup>(b)</sup> | 4479 | &nbsp;&nbsp; 973108 |
| Itron, Inc.<sup>(c)</sup> | 25501 | &nbsp;&nbsp; 2947916 |
| Knowles Corp.<sup>(c)</sup> | 45444 | &nbsp;&nbsp; 745736 |
| &nbsp;&nbsp;&nbsp; Kulicke & Soffa Industries, Inc. <br> (Singapore)<br>| 20990 | &nbsp;&nbsp; 674828 |
| LiveRamp Holdings, Inc.<sup>(c)</sup> | 29587 | &nbsp;&nbsp; 963944 |
| MARA Holdings, Inc.<sup>(b)(c)</sup> | 53921 | &nbsp;&nbsp; 761364 |
| MaxLinear, Inc.<sup>(c)</sup> | 30302 | &nbsp;&nbsp; 345140 |
| N-able, Inc.<sup>(c)</sup> | 70054 | &nbsp;&nbsp; 545721 |
| NCR Voyix Corp.<sup>(b)(c)</sup> | 351211 | &nbsp;&nbsp; 3894930 |
| NetScout Systems, Inc.<sup>(c)</sup> | 42168 | &nbsp;&nbsp; 963117 |
| OSI Systems, Inc.<sup>(b)(c)</sup> | 10135 | &nbsp;&nbsp; 2220680 |
| PC Connection, Inc. | 49311 | &nbsp;&nbsp; 3224939 |
| PDF Solutions, Inc.<sup>(c)</sup> | 8881 | &nbsp;&nbsp; 157194 |
| Penguin Solutions, Inc.<sup>(b)(c)</sup> | 79416 | &nbsp;&nbsp; 1410428 |
| Photronics, Inc.<sup>(c)</sup> | 44405 | &nbsp;&nbsp; 742008 |
| Plexus Corp.<sup>(c)</sup> | 35281 | &nbsp;&nbsp; 4630984 |
| Progress Software Corp. | 14916 | &nbsp;&nbsp; 918229 |
| Qorvo, Inc.<sup>(c)</sup> | 60091 | &nbsp;&nbsp; 4568118 |
| Rogers Corp.<sup>(c)</sup> | 12128 | &nbsp;&nbsp; 807361 |
| Sandisk Corp.<sup>(b)(c)</sup> | 153929 | &nbsp;&nbsp; 5801584 |
| Sanmina Corp.<sup>(c)</sup> | 112281 | &nbsp;&nbsp; 9509078 |
| ScanSource, Inc.<sup>(c)</sup> | 91080 | &nbsp;&nbsp; 3677810 |
| Semtech Corp.<sup>(b)(c)</sup> | 26923 | &nbsp;&nbsp; 1005036 |
| SiTime Corp.<sup>(c)</sup> | 1431 | &nbsp;&nbsp; 280576 |
| SolarEdge Technologies, Inc.<sup>(b)(c)</sup> | 62993 | &nbsp;&nbsp; 1125055 |
| Sprinklr, Inc., Class A<sup>(b)(c)</sup> | 90821 | &nbsp;&nbsp; 766529 |
| SPS Commerce, Inc.<sup>(c)</sup> | 5325 | &nbsp;&nbsp; 749547 |
| Teradata Corp.<sup>(c)</sup> | 84367 | &nbsp;&nbsp; 1852699 |
| TTM Technologies, Inc.<sup>(c)</sup> | 119179 | &nbsp;&nbsp; 3558685 |
| Ultra Clean Holdings, Inc.<sup>(c)</sup> | 91683 | &nbsp;&nbsp; 1775900 |
| Veeco Instruments, Inc.<sup>(b)(c)</sup> | 36113 | &nbsp;&nbsp; 697342 |
| Viasat, Inc.<sup>(b)(c)</sup> | 528990 | &nbsp;&nbsp; 4618083 |
| Viavi Solutions, Inc.<sup>(b)(c)</sup> | 100804 | &nbsp;&nbsp; 918324 |
| Vishay Intertechnology, Inc. | 190003 | &nbsp;&nbsp; 2673342 |
| Wolfspeed, Inc.<sup>(b)(c)</sup> | 159409 | &nbsp;&nbsp; 189697 |
| Xerox Holdings Corp.<sup>(b)</sup> | 1132020 | &nbsp;&nbsp; 5535578 |
|  |  | &nbsp;&nbsp; 125316603 |
| **Materials-5.44%** | **Materials-5.44%** | **Materials-5.44%** |
| AdvanSix, Inc. | 68875 | &nbsp;&nbsp; 1619251 |
| Alpha Metallurgical Resources, Inc.<sup>(b)(c)</sup> | 25216 | &nbsp;&nbsp; 2825201 |
| Balchem Corp. | 6032 | &nbsp;&nbsp; 1005534 |
| Celanese Corp. | 210563 | &nbsp;&nbsp; 11124043 |
| Century Aluminum Co.<sup>(b)(c)</sup> | 124687 | &nbsp;&nbsp; 1931402 |
| Chemours Co. (The)<sup>(b)</sup> | 454489 | &nbsp;&nbsp; 4603974 |
| Element Solutions, Inc. | 105016 | &nbsp;&nbsp; 2245242 |
| FMC Corp. | 114759 | &nbsp;&nbsp; 4654625 |
| H.B. Fuller Co. | 71236 | &nbsp;&nbsp; 3976394 |
| Hawkins, Inc. | 9683 | &nbsp;&nbsp; 1292584 |
| Ingevity Corp.<sup>(c)</sup> | 33715 | &nbsp;&nbsp; 1394790 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Materials-(continued)** | **Materials-(continued)** | **Materials-(continued)** |
| Innospec, Inc. | 20226 | &nbsp;&nbsp; $1720828 |
| Kaiser Aluminum Corp. | 49897 | &nbsp;&nbsp; 3622023 |
| Koppers Holdings, Inc. | 76177 | &nbsp;&nbsp; 2340157 |
| Materion Corp. | 21551 | &nbsp;&nbsp; 1668694 |
| Metallus, Inc.<sup>(b)(c)</sup> | 87362 | &nbsp;&nbsp; 1103382 |
| Minerals Technologies, Inc. | 33814 | &nbsp;&nbsp; 1919959 |
| MP Materials Corp.<sup>(b)(c)</sup> | 8878 | &nbsp;&nbsp; 193452 |
| O-I Glass, Inc.<sup>(c)</sup> | 613330 | &nbsp;&nbsp; 8040756 |
| Quaker Chemical Corp.<sup>(b)</sup> | 15282 | &nbsp;&nbsp; 1657180 |
| Sealed Air Corp. | 196871 | &nbsp;&nbsp; 6339246 |
| Sensient Technologies Corp. | 23082 | &nbsp;&nbsp; 2181941 |
| Stepan Co. | 40843 | &nbsp;&nbsp; 2217367 |
| SunCoke Energy, Inc. | 229056 | &nbsp;&nbsp; 1864516 |
| Sylvamo Corp. | 62933 | &nbsp;&nbsp; 3333561 |
| Warrior Met Coal, Inc.<sup>(b)</sup> | 34180 | &nbsp;&nbsp; 1553481 |
| Worthington Steel, Inc. | 136699 | &nbsp;&nbsp; 3403805 |
|  |  | &nbsp;&nbsp; 79833388 |
| **Real Estate-3.22%** | **Real Estate-3.22%** | **Real Estate-3.22%** |
| Acadia Realty Trust | 17835 | &nbsp;&nbsp; 343502 |
| Alexander & Baldwin, Inc. | 14124 | &nbsp;&nbsp; 252961 |
| American Assets Trust, Inc. | 24260 | &nbsp;&nbsp; 483744 |
| Apple Hospitality REIT, Inc. | 112747 | &nbsp;&nbsp; 1306738 |
| Armada Hoffler Properties, Inc. | 87554 | &nbsp;&nbsp; 609376 |
| Brandywine Realty Trust<sup>(b)</sup> | 119699 | &nbsp;&nbsp; 506327 |
| CareTrust REIT, Inc. | 11846 | &nbsp;&nbsp; 340691 |
| Centerspace | 4467 | &nbsp;&nbsp; 284771 |
| Curbline Properties Corp. | 5588 | &nbsp;&nbsp; 126792 |
| Cushman & Wakefield PLC<sup>(c)</sup> | 917715 | &nbsp;&nbsp; 9204682 |
| DiamondRock Hospitality Co. | 152919 | &nbsp;&nbsp; 1168301 |
| Douglas Emmett, Inc.<sup>(b)</sup> | 65948 | &nbsp;&nbsp; 938440 |
| Easterly Government Properties, Inc. | 12373 | &nbsp;&nbsp; 268865 |
| Elme Communities | 15300 | &nbsp;&nbsp; 245718 |
| Essential Properties Realty Trust, Inc. | 15861 | &nbsp;&nbsp; 515483 |
| eXp World Holdings, Inc.<sup>(b)</sup> | 525225 | &nbsp;&nbsp; 4474917 |
| Four Corners Property Trust, Inc.<sup>(b)</sup> | 10335 | &nbsp;&nbsp; 285349 |
| Getty Realty Corp.<sup>(b)</sup> | 7129 | &nbsp;&nbsp; 208595 |
| Global Net Lease, Inc.<sup>(b)</sup> | 110657 | &nbsp;&nbsp; 858698 |
| Highwoods Properties, Inc. | 31193 | &nbsp;&nbsp; 926432 |
| Innovative Industrial Properties, Inc. | 4784 | &nbsp;&nbsp; 264173 |
| &nbsp;&nbsp;&nbsp; JBG SMITH Properties, (Acquired <br> 03/17/2023 - 04/04/2025; <br> Cost $583,975)<sup>(b)(e)</sup><br>| 40543 | &nbsp;&nbsp; 693285 |
| Kennedy-Wilson Holdings, Inc. | 62567 | &nbsp;&nbsp; 398552 |
| LTC Properties, Inc.<sup>(b)</sup> | 6333 | &nbsp;&nbsp; 224125 |
| LXP Industrial Trust<sup>(b)</sup> | 42005 | &nbsp;&nbsp; 360403 |
| Macerich Co. (The) | 58926 | &nbsp;&nbsp; 953423 |
| Marcus & Millichap, Inc. | 21437 | &nbsp;&nbsp; 617600 |
| Medical Properties Trust, Inc.<sup>(b)</sup> | 179342 | &nbsp;&nbsp; 819593 |
| Millrose Properties, Inc.<sup>(b)(c)</sup> | 179009 | &nbsp;&nbsp; 4988981 |
| NexPoint Residential Trust, Inc. | 7019 | &nbsp;&nbsp; 238646 |
| Outfront Media, Inc. | 120922 | &nbsp;&nbsp; 1997632 |
| Pebblebrook Hotel Trust<sup>(b)</sup> | 140356 | &nbsp;&nbsp; 1288468 |
| Phillips Edison & Co., Inc. | 20455 | &nbsp;&nbsp; 725334 |
| Ryman Hospitality Properties, Inc.<sup>(b)</sup> | 26067 | &nbsp;&nbsp; 2531366 |
| Safehold, Inc.<sup>(b)</sup> | 20971 | &nbsp;&nbsp; 316033 |
| Saul Centers, Inc. | 8044 | &nbsp;&nbsp; 270922 |
| SITE Centers Corp. | 33447 | &nbsp;&nbsp; 398688 |
| SL Green Realty Corp. | 17129 | &nbsp;&nbsp; 972413 |
| St. Joe Co. (The) | 9603 | &nbsp;&nbsp; 429350 |
| Summit Hotel Properties, Inc.<sup>(b)</sup> | 136070 | &nbsp;&nbsp; 595987 |
| Sunstone Hotel Investors, Inc. | 98120 | &nbsp;&nbsp; 879155 |
| Tanger, Inc.<sup>(b)</sup> | 17264 | &nbsp;&nbsp; 514467 |

---

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

------

**Invesco S&P SmallCap 600 Revenue ETF (RWJ)—(continued)**

May 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Real Estate-(continued)** | **Real Estate-(continued)** | **Real Estate-(continued)** |
| Terreno Realty Corp. | 6067 | &nbsp;&nbsp; $342300 |
| Uniti Group, Inc.<sup>(b)</sup> | 244167 | &nbsp;&nbsp; 1049918 |
| Universal Health Realty Income Trust | 2502 | &nbsp;&nbsp; 99354 |
| Urban Edge Properties | 25447 | &nbsp;&nbsp; 462118 |
| Veris Residential, Inc. | 18055 | &nbsp;&nbsp; 274436 |
| Whitestone REIT | 11698 | &nbsp;&nbsp; 144119 |
| Xenia Hotels & Resorts, Inc.<sup>(b)</sup> | 87341 | &nbsp;&nbsp; 1068180 |
|  |  | &nbsp;&nbsp; 47269403 |
| **Utilities-1.06%** | **Utilities-1.06%** | **Utilities-1.06%** |
| American States Water Co. | 8371 | &nbsp;&nbsp; 660221 |
| Avista Corp. | 53709 | &nbsp;&nbsp; 2068334 |
| California Water Service Group | 23989 | &nbsp;&nbsp; 1133480 |
| Chesapeake Utilities Corp. | 6690 | &nbsp;&nbsp; 817451 |
| Clearway Energy, Inc., Class A | 29283 | &nbsp;&nbsp; 844814 |
| Clearway Energy, Inc., Class C | 27322 | &nbsp;&nbsp; 840698 |
| MDU Resources Group, Inc. | 253804 | &nbsp;&nbsp; 4362891 |
| MGE Energy, Inc. | 8096 | &nbsp;&nbsp; 731231 |
| Middlesex Water Co. | 3361 | &nbsp;&nbsp; 194770 |
| Northwest Natural Holding Co. | 30189 | &nbsp;&nbsp; 1236843 |
| Otter Tail Corp.<sup>(b)</sup> | 17766 | &nbsp;&nbsp; 1371180 |
| SJW Group | 15341 | &nbsp;&nbsp; 805096 |
| Unitil Corp. | 9682 | &nbsp;&nbsp; 530864 |
|  |  | &nbsp;&nbsp; 15597873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $1,454,646,574) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $1,454,646,574) | &nbsp;&nbsp; 1466370875 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Money Market Funds-0.04%** | **Money Market Funds-0.04%** | **Money Market Funds-0.04%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.24%<sup>(g)(h)</sup> <br>(Cost $568,983)<br>| 568983 | &nbsp;&nbsp; $568983 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.94% <br>(Cost $1,455,215,557) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.94% <br>(Cost $1,455,215,557) | &nbsp;&nbsp; 1466939858 |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-20.89%** | **Money Market Funds-20.89%** | **Money Market Funds-20.89%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.29%<sup>(g)(h)(i)</sup><br>| 83824230 | &nbsp;&nbsp; 83824230 |
| Invesco Private Prime Fund, 4.45%<sup>(g)(h)(i)</sup> | 222708089 | &nbsp;&nbsp; 222752631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $306,587,871) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $306,587,871) | &nbsp;&nbsp; 306576861 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-120.83% <br>(Cost $1,761,803,428) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-120.83% <br>(Cost $1,761,803,428) | &nbsp;&nbsp; 1773516719 |
| OTHER ASSETS LESS LIABILITIES-(20.83)% | OTHER ASSETS LESS LIABILITIES-(20.83)% | &nbsp;&nbsp; (305712939)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $1467803780 |

---

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

Investment Abbreviations: <br> REIT -Real Estate Investment Trust <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> | All or a portion of this security was out on loan at May 31, 2025. |
| <sup>(c)</sup> | Non-income producing security. |
| <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 May 31, 2025 <br> represented less than 1% of the Fund's Net Assets.<br>|
| <sup>(e)</sup> | Restricted security. The aggregate value of these securities at May 31, 2025 was $2,391,201, which represented less than 1% of the Fund's Net Assets. |
| <sup>(f)</sup> | Security valued using significant unobservable inputs (Level 3). See Note 1. |
| <sup>(g)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the nine months ended May 31, 2025.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**August 31, 2024**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**May 31, 2025**<br>| **Dividend Income** |
| **Investments in** <br> **Affiliated Money** <br> **Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government <br> & Agency Portfolio, <br> Institutional Class<br>| &nbsp;&nbsp;&nbsp; $719245 | &nbsp;&nbsp;&nbsp; $25514059 | &nbsp;&nbsp;&nbsp; $(25664321)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $568983 | &nbsp;&nbsp;&nbsp; $23623 |

---

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

------

**Invesco S&P SmallCap 600 Revenue ETF (RWJ)—(continued)**

May 31, 2025

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **August 31, 2024**<br>| **Purchases**<br> **at Cost**<br>| **Proceeds**<br> **from Sales**<br>| **Change in**<br> **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Realized**<br> **Gain**<br> **(Loss)**<br>| **Value**<br> **May 31, 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; $103441240 | &nbsp;&nbsp;&nbsp; $400842095 | &nbsp;&nbsp;&nbsp; $(420459105)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $83824230 | &nbsp;&nbsp;&nbsp; $3,822,172<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 274073776 | &nbsp;&nbsp;&nbsp; 887736517 | &nbsp;&nbsp;&nbsp; (939000713)<br>| &nbsp;&nbsp;&nbsp; (35666)<br>| &nbsp;&nbsp;&nbsp; (21283)<br>| &nbsp;&nbsp;&nbsp; 222752631 | &nbsp;&nbsp;&nbsp; 10,189,263<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $378234261 | &nbsp;&nbsp;&nbsp; $1314092671 | &nbsp;&nbsp;&nbsp; $(1385124139)<br>| &nbsp;&nbsp;&nbsp; $(35666)<br>| &nbsp;&nbsp;&nbsp; $(21283)<br>| &nbsp;&nbsp;&nbsp; $307145844 | &nbsp;&nbsp;&nbsp; $14035058 |

---

&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>(h)</sup> The rate shown is the 7-day SEC standardized yield as of May 31, 2025. <br> <sup>(i)</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 S&P Ultra Dividend Revenue ETF (RDIV)**

May 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.52%** | **Common Stocks & Other Equity Interests-99.52%** | **Common Stocks & Other Equity Interests-99.52%** |
| **Communication Services-7.51%** | **Communication Services-7.51%** | **Communication Services-7.51%** |
| AT&T, Inc. | 1364140 | &nbsp;&nbsp; $37923092 |
| Interpublic Group of Cos., Inc. (The) | 529783 | &nbsp;&nbsp; 12693601 |
| Nexstar Media Group, Inc., Class A<sup>(b)</sup> | 42677 | &nbsp;&nbsp; 7273014 |
|  |  | &nbsp;&nbsp; 57889707 |
| **Consumer Discretionary-10.56%** | **Consumer Discretionary-10.56%** | **Consumer Discretionary-10.56%** |
| Best Buy Co., Inc.<sup>(b)</sup> | 584940 | &nbsp;&nbsp; 38769823 |
| Macy's, Inc.<sup>(b)</sup> | 2527068 | &nbsp;&nbsp; 30046839 |
| Marriott Vacations Worldwide Corp.<sup>(b)</sup> | 111463 | &nbsp;&nbsp; 7340953 |
| Travel + Leisure Co. | 106710 | &nbsp;&nbsp; 5182905 |
|  |  | &nbsp;&nbsp; 81340520 |
| **Consumer Staples-9.42%** | **Consumer Staples-9.42%** | **Consumer Staples-9.42%** |
| Flowers Foods, Inc. | 324077 | &nbsp;&nbsp; 5476901 |
| Kraft Heinz Co. (The) | 1019041 | &nbsp;&nbsp; 27238966 |
| Philip Morris International, Inc. | 220633 | &nbsp;&nbsp; 39844114 |
|  |  | &nbsp;&nbsp; 72559981 |
| **Energy-12.85%** | **Energy-12.85%** | **Energy-12.85%** |
| APA Corp.<sup>(b)</sup> | 739903 | &nbsp;&nbsp; 12585750 |
| Chevron Corp. | 271374 | &nbsp;&nbsp; 37096826 |
| Civitas Resources, Inc. | 214824 | &nbsp;&nbsp; 5879733 |
| Kinder Morgan, Inc.<sup>(b)</sup> | 671758 | &nbsp;&nbsp; 18836094 |
| ONEOK, Inc. | 304123 | &nbsp;&nbsp; 24585303 |
|  |  | &nbsp;&nbsp; 98983706 |
| **Financials-25.18%** | **Financials-25.18%** | **Financials-25.18%** |
| Citizens Financial Group, Inc. | 405423 | &nbsp;&nbsp; 16358818 |
| Comerica, Inc. | 109590 | &nbsp;&nbsp; 6256493 |
| Huntington Bancshares, Inc. | 994118 | &nbsp;&nbsp; 15538064 |
| Invesco Ltd.<sup>(c)</sup> | 529402 | &nbsp;&nbsp; 7655153 |
| Janus Henderson Group PLC | 94875 | &nbsp;&nbsp; 3446809 |
| KeyCorp<sup>(b)</sup> | 751701 | &nbsp;&nbsp; 11921978 |
| Prudential Financial, Inc. | 365100 | &nbsp;&nbsp; 37930239 |
| Regions Financial Corp. | 555848 | &nbsp;&nbsp; 11917381 |
| T. Rowe Price Group, Inc. | 97352 | &nbsp;&nbsp; 9111174 |
| Truist Financial Corp. | 782298 | &nbsp;&nbsp; 30900771 |
| U.S. Bancorp | 939738 | &nbsp;&nbsp; 40963179 |
| United Bankshares, Inc.<sup>(b)</sup> | 55176 | &nbsp;&nbsp; 1994061 |
|  |  | &nbsp;&nbsp; 193994120 |
| **Health Care-12.77%** | **Health Care-12.77%** | **Health Care-12.77%** |
| Bristol-Myers Squibb Co. | 764269 | &nbsp;&nbsp; 36898907 |
| CVS Health Corp. | 566282 | &nbsp;&nbsp; 36264699 |
| Perrigo Co. PLC | 209253 | &nbsp;&nbsp; 5601703 |
| Viatris, Inc.<sup>(b)</sup> | 2230428 | &nbsp;&nbsp; 19605462 |
|  |  | &nbsp;&nbsp; 98370771 |
| **Industrials-3.38%** | **Industrials-3.38%** | **Industrials-3.38%** |
| CNH Industrial N.V.<sup>(b)</sup> | 2083813 | &nbsp;&nbsp; 26068501 |
| **Materials-2.60%** | **Materials-2.60%** | **Materials-2.60%** |
| Amcor PLC | 1690073 | &nbsp;&nbsp; 15396565 |
| Scotts Miracle-Gro Co. (The) | 78644 | &nbsp;&nbsp; 4684037 |
|  |  | &nbsp;&nbsp; 20080602 |
| **Real Estate-5.02%** | **Real Estate-5.02%** | **Real Estate-5.02%** |
| Agree Realty Corp. | 9469 | &nbsp;&nbsp; 713016 |
| Alexandria Real Estate Equities, Inc. | 47925 | &nbsp;&nbsp; 3363856 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Real Estate-(continued)** | **Real Estate-(continued)** | **Real Estate-(continued)** |
| Brixmor Property Group, Inc.<sup>(b)</sup> | 59158 | &nbsp;&nbsp; $1503205 |
| COPT Defense Properties<sup>(b)</sup> | 33545 | &nbsp;&nbsp; 920810 |
| Cousins Properties, Inc. | 37014 | &nbsp;&nbsp; 1038983 |
| CubeSmart | 31895 | &nbsp;&nbsp; 1363830 |
| Extra Space Storage, Inc. | 27286 | &nbsp;&nbsp; 4124279 |
| Federal Realty Investment Trust | 15034 | &nbsp;&nbsp; 1435446 |
| Host Hotels & Resorts, Inc.<sup>(b)</sup> | 489825 | &nbsp;&nbsp; 7587389 |
| Kimco Realty Corp. | 118780 | &nbsp;&nbsp; 2525263 |
| Lamar Advertising Co., Class A | 23587 | &nbsp;&nbsp; 2843177 |
| PotlatchDeltic Corp. | 32220 | &nbsp;&nbsp; 1267535 |
| Rayonier, Inc.<sup>(b)</sup> | 60332 | &nbsp;&nbsp; 1429868 |
| Simon Property Group, Inc. | 46315 | &nbsp;&nbsp; 7552587 |
| STAG Industrial, Inc. | 27778 | &nbsp;&nbsp; 988341 |
|  |  | &nbsp;&nbsp; 38657585 |
| **Utilities-10.23%** | **Utilities-10.23%** | **Utilities-10.23%** |
| AES Corp. (The) | 1441672 | &nbsp;&nbsp; 14546470 |
| ALLETE, Inc. | 27816 | &nbsp;&nbsp; 1809153 |
| Black Hills Corp. | 41546 | &nbsp;&nbsp; 2429195 |
| Edison International | 359075 | &nbsp;&nbsp; 19982524 |
| Evergy, Inc.<sup>(b)</sup> | 101211 | &nbsp;&nbsp; 6721423 |
| FirstEnergy Corp. | 376029 | &nbsp;&nbsp; 15770656 |
| NorthWestern Energy Group, Inc.<sup>(b)</sup> | 30671 | &nbsp;&nbsp; 1697026 |
| OGE Energy Corp. | 78458 | &nbsp;&nbsp; 3489027 |
| Pinnacle West Capital Corp.<sup>(b)</sup> | 64287 | &nbsp;&nbsp; 5864903 |
| Portland General Electric Co.<sup>(b)</sup> | 86538 | &nbsp;&nbsp; 3669211 |
| Spire, Inc. | 38262 | &nbsp;&nbsp; 2880363 |
|  |  | &nbsp;&nbsp; 78859951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $763,576,755) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $763,576,755) | &nbsp;&nbsp; 766805444 |
| **Money Market Funds-0.10%** | **Money Market Funds-0.10%** | **Money Market Funds-0.10%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.24%<sup>(c)(d)</sup> <br>(Cost $785,928)<br>| 785928 | &nbsp;&nbsp; 785928 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.62% <br>(Cost $764,362,683) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.62% <br>(Cost $764,362,683) | &nbsp;&nbsp; 767591372 |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-6.55%** | **Money Market Funds-6.55%** | **Money Market Funds-6.55%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.29%<sup>(c)(d)(e)</sup><br>| 13970246 | &nbsp;&nbsp; 13970246 |
| Invesco Private Prime Fund, 4.45%<sup>(c)(d)(e)</sup> | 36503286 | &nbsp;&nbsp; 36510587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $50,480,833) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $50,480,833) | &nbsp;&nbsp; 50480833 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-106.17% <br>(Cost $814,843,516) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-106.17% <br>(Cost $814,843,516) | &nbsp;&nbsp; 818072205 |
| OTHER ASSETS LESS LIABILITIES-(6.17)% | OTHER ASSETS LESS LIABILITIES-(6.17)% | &nbsp;&nbsp; (47572240)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $770499965 |

---

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

------

**Invesco S&P Ultra Dividend Revenue ETF (RDIV)—(continued)**

May 31, 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> | All or a portion of this security was out on loan at May 31, 2025. |
| <sup>(c)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the nine months ended May 31, 2025.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**August 31, 2024**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**May 31, 2025**<br>| **Dividend Income** |
| &nbsp;&nbsp; Invesco Ltd. | &nbsp;&nbsp;&nbsp; $8268484 | &nbsp;&nbsp;&nbsp; $6403889 | &nbsp;&nbsp;&nbsp; $(6288326)<br>| &nbsp;&nbsp;&nbsp; $(1177581)<br>| &nbsp;&nbsp;&nbsp; $448687 | &nbsp;&nbsp;&nbsp; $7655153 | &nbsp;&nbsp;&nbsp; $301182 |
| **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; 35677483 | &nbsp;&nbsp;&nbsp; (34891555)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 785928 | &nbsp;&nbsp;&nbsp; 23513 |
| **Investments** <br> **Purchased with Cash** <br> **Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; 7109402 | &nbsp;&nbsp;&nbsp; 348611836 | &nbsp;&nbsp;&nbsp; (341750992)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 13970246 | &nbsp;&nbsp;&nbsp; 751,107<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 18926958 | &nbsp;&nbsp;&nbsp; 743759686 | &nbsp;&nbsp;&nbsp; (726161586)<br>| &nbsp;&nbsp;&nbsp; (318)<br>| &nbsp;&nbsp;&nbsp; (14153)<br>| &nbsp;&nbsp;&nbsp; 36510587 | &nbsp;&nbsp;&nbsp; 1,987,275<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $34304844 | &nbsp;&nbsp;&nbsp; $1134452894 | &nbsp;&nbsp;&nbsp; $(1109092459)<br>| &nbsp;&nbsp;&nbsp; $(1177899)<br>| &nbsp;&nbsp;&nbsp; $434534 | &nbsp;&nbsp;&nbsp; $58921914 | &nbsp;&nbsp;&nbsp; $3063077 |

---

&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>(d)</sup> The rate shown is the 7-day SEC standardized yield as of May 31, 2025. <br> <sup>(e)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

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

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

------

**Notes to Quarterly Schedules of Portfolio Holdings**

May 31, 2025

*(Unaudited)*

**NOTE 1—Additional Valuation Information**

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

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

Level 2 — Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. When market movements occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.

Level 3 — Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect Invesco Capital Management LLC's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

The following is a summary of the tiered valuation input levels, as of May 31, 2025. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp; Invesco S&P 500 Revenue ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $5491990552 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $5491990552 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 58058641 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 58058641 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $5491990552 | &nbsp;&nbsp;&nbsp; $58058641 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $5550049193 |
| &nbsp;&nbsp; Invesco S&P MidCap 400 Revenue ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $803112775 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $803112775 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 558472 | &nbsp;&nbsp;&nbsp; 127632245 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 128190717 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $803671247 | &nbsp;&nbsp;&nbsp; $127632245 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $931303492 |
| &nbsp;&nbsp; Invesco S&P SmallCap 600 Revenue ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $1466370875 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $1466370875 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 568983 | &nbsp;&nbsp;&nbsp; 306576861 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 307145844 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $1466939858 | &nbsp;&nbsp;&nbsp; $306576861 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $1773516719 |
| &nbsp;&nbsp; Invesco S&P Ultra Dividend Revenue ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $766805444 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $766805444 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 785928 | &nbsp;&nbsp;&nbsp; 50480833 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 51266761 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $767591372 | &nbsp;&nbsp;&nbsp; $50480833 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $818072205 |

---

------

## 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 S&P MidCap 400 Revenue ETF

- **b. EDGAR series identifier (if any):** S000064595

- **c. LEI of Series:** 549300SW473122XHGJ98

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $932155387.94

**Total Liabilities:** $127897414.69

**Net Assets:** $804257973.25

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000209112 | -6.62%               | -2.33%               | 6.42%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $4086848.77              | $-63835684.21                              |
| Month 2  | $3695146.58              | $-24795214.56                              |
| Month 3  | $4036665.18              | $43811890.43                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Masimo Corp.                              | Masimo Corp.                                               | CUSIP: 574795100<br>LEI: 549300Q4A8JK0PIYCU29 | Long             | EC               | CORP              | US        |      4107 | NS      | $667387.50    | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| AAON, Inc.                                | AAON, Inc.                                                 | CUSIP: 000360206<br>LEI: 549300ZHF0E5VM7PUD37 | Long             | EC               | CORP              | US        |      4807 | NS      | $462866.03    | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| First Industrial Realty Trust, Inc.       | First Industrial Realty Trust, Inc.                        | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3884 | NS      | $191986.12    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| PBF Energy Inc.                           | PBF Energy Inc., Class A                                   | CUSIP: 69318G106<br>LEI: 2549003PBEDCSZMZIY02 | Long             | EC               | CORP              | US        |    543291 | NS      | $10349693.55  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| SouthState Corp.                          | SouthState Corp.                                           | CUSIP: 840441109<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |      8886 | NS      | $780190.80    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies, Inc.                    | BWX Technologies, Inc.                                     | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |      9065 | NS      | $1138564.00   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Littelfuse, Inc.                          | Littelfuse, Inc.                                           | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |      3517 | NS      | $721196.02    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Resources Corp.                    | Antero Resources Corp.                                     | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |     39486 | NS      | $1478750.70   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| TopBuild Corp.                            | TopBuild Corp.                                             | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |      5783 | NS      | $1635952.87   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Annaly Capital Management, Inc.           | Annaly Capital Management, Inc.                            | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |     98700 | NS      | $1870365.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse, Inc.                     | Texas Roadhouse, Inc.                                      | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |     10072 | NS      | $1966155.12   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentrix Corp.                          | Concentrix Corp.                                           | CUSIP: 20602D101<br>LEI: 5493000EAJN1KMPVA737 | Long             | EC               | CORP              | US        |     71421 | NS      | $3997076.27   | 0.50%             |  |  |  | No            |                  1 | On Loan: —       |
| EPR Properties                            | EPR Properties                                             | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |      4400 | NS      | $245036.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                     | American Homes 4 Rent, Class A                             | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |     16410 | NS      | $621118.50    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| RLI Corp.                                 | RLI Corp.                                                  | CUSIP: 749607107<br>LEI: 529900AMTJE5ECN9PS55 | Long             | EC               | CORP              | US        |      7876 | NS      | $605428.12    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| XPO, Inc.                                 | XPO, Inc.                                                  | CUSIP: 983793100<br>LEI: 54930096DB9LCLPN7H13 | Long             | EC               | CORP              | US        |     24335 | NS      | $2770053.05   | 0.34%             |  |  |  | No            |                  1 | On Loan: —       |
| Voya Financial, Inc.                      | Voya Financial, Inc.                                       | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |     40042 | NS      | $2663593.84   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Sportswear Co.                   | Columbia Sportswear Co.                                    | CUSIP: 198516106<br>LEI: 549300OTMCIEUXAH5Z60 | Long             | EC               | CORP              | US        |     14076 | NS      | $897767.28    | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| Prosperity Bancshares, Inc.               | Prosperity Bancshares, Inc.                                | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8316 | NS      | $579209.40    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Utilities, Inc.                 | Essential Utilities, Inc.                                  | CUSIP: 29670G102<br>LEI: 549300ILTEOF3E3QY357 | Long             | EC               | CORP              | US        |     17792 | NS      | $685525.76    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Harbors, Inc.                       | Clean Harbors, Inc.                                        | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |      9923 | NS      | $2250437.17   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corp.                                | Lear Corp.                                                 | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |     80790 | NS      | $7305031.80   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirby Corp.                               | Kirby Corp.                                                | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |     11110 | NS      | $1229210.40   | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| Avantor, Inc.                             | Avantor, Inc.                                              | CUSIP: 05352A100<br>LEI: 5493003VM0XB4U8YD238 | Long             | EC               | CORP              | US        |    141247 | NS      | $1823498.77   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Goodyear Tire & Rubber Co. (The)          | Goodyear Tire & Rubber Co. (The)                           | CUSIP: 382550101<br>LEI: 5493002BI0S2ZQUY3437 | Long             | EC               | CORP              | US        |    667387 | NS      | $7614885.67   | 0.95%             |  |  |  | No            |                  1 | On Loan: —       |
| Flowserve Corp.                           | Flowserve Corp.                                            | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |     30845 | NS      | $1539473.95   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoNation, Inc.                          | AutoNation, Inc.                                           | CUSIP: 05329W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     53212 | NS      | $9783026.20   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences, Inc.              | Neurocrine Biosciences, Inc.                               | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |      7100 | NS      | $873442.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Bankshares, Inc.          | First Financial Bankshares, Inc.                           | CUSIP: 32020R109<br>LEI: 549300XN3GTGOENGNV49 | Long             | EC               | CORP              | US        |      7055 | NS      | $248759.30    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| BellRing Brands, Inc.                     | BellRing Brands, Inc.                                      | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |     10123 | NS      | $637242.85    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Whirlpool Corp.                           | Whirlpool Corp.                                            | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EC               | CORP              | US        |     59972 | NS      | $4683213.48   | 0.58%             |  |  |  | No            |                  1 | On Loan: —       |
| Brixmor Property Group Inc.               | Brixmor Property Group Inc.                                | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |     16180 | NS      | $411133.80    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corp.                    | Stifel Financial Corp.                                     | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |     20557 | NS      | $1936880.54   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties, Inc.       | Gaming and Leisure Properties, Inc.                        | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |     10052 | NS      | $469428.40    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Celsius Holdings, Inc.                    | Celsius Holdings, Inc.                                     | CUSIP: 15118V207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16216 | NS      | $614262.08    | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| UMB Financial Corp.                       | UMB Financial Corp.                                        | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |      9272 | NS      | $956128.64    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Perrigo Co. PLC                           | Perrigo Co. PLC                                            | CUSIP: G97822103<br>LEI: 549300IFOQS6R1QLY196 | Long             | EC               | CORP              | IE        |     52326 | NS      | $1400767.02   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| SEI Investments Co.                       | SEI Investments Co.                                        | CUSIP: 784117103<br>LEI: 5LJTIFADGZ6XH1RVOC11 | Long             | EC               | CORP              | US        |      9476 | NS      | $807923.76    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Tetra Tech, Inc.                          | Tetra Tech, Inc.                                           | CUSIP: 88162G103<br>LEI: 549300UJ1LP7JGJC5P32 | Long             | EC               | CORP              | US        |     61778 | NS      | $2158523.32   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| RPM International Inc.                    | RPM International Inc.                                     | CUSIP: 749685103<br>LEI: 549300TJCKW4BRXPJ474 | Long             | EC               | CORP              | US        |     20706 | NS      | $2357171.04   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Avis Budget Group, Inc.                   | Avis Budget Group, Inc.                                    | CUSIP: 053774105<br>LEI: 529900E95812SYWMCE44 | Long             | EC               | CORP              | US        |     61876 | NS      | $7535878.04   | 0.94%             |  |  |  | No            |                  1 | On Loan: —       |
| Skechers U.S.A., Inc.                     | Skechers U.S.A., Inc., Class A                             | CUSIP: 830566105<br>LEI: 529900D2R54KZPA4XR56 | Long             | EC               | CORP              | US        |     52287 | NS      | $3243885.48   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Woodward, Inc.                            | Woodward, Inc.                                             | CUSIP: 980745103<br>LEI: YPYKXXTR8TFDH54ZMB45 | Long             | EC               | CORP              | US        |      6086 | NS      | $1316584.38   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstCash Holdings, Inc.                  | FirstCash Holdings, Inc.                                   | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9823 | NS      | $1256459.93   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln Electric Holdings, Inc.           | Lincoln Electric Holdings, Inc.                            | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               | CORP              | US        |      6921 | NS      | $1339836.39   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Bath & Body Works, Inc.                   | Bath & Body Works, Inc.                                    | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |     82030 | NS      | $2306683.60   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial, Inc.                     | STAG Industrial, Inc.                                      | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |      6977 | NS      | $248241.66    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Jefferies Financial Group Inc.            | Jefferies Financial Group Inc.                             | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |     63424 | NS      | $3082406.40   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy Oil Corp.                          | Murphy Oil Corp.                                           | CUSIP: 626717102<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | EC               | CORP              | US        |     39491 | NS      | $826546.63    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corp.                       | Regal Rexnord Corp.                                        | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |     16710 | NS      | $2229782.40   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Morningstar, Inc.                         | Morningstar, Inc.                                          | CUSIP: 617700109<br>LEI: 529900YGNQPOVAXQ7F29 | Long             | EC               | CORP              | US        |      2602 | NS      | $802508.84    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Hotels & Resorts Inc.                | Park Hotels & Resorts Inc.                                 | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               | CORP              | US        |     74109 | NS      | $767769.24    | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| RBC Bearings Inc.                         | RBC Bearings Inc.                                          | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1573 | NS      | $575513.51    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO Corp.                                | AGCO Corp.                                                 | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |     40627 | NS      | $3980633.46   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Rayonier Inc.                             | Rayonier Inc.                                              | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               | CORP              | US        |     15151 | NS      | $359078.70    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Holdings Inc. | Knight-Swift Transportation Holdings Inc.                  | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     52159 | NS      | $2311686.88   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Arrow Electronics, Inc.                   | Arrow Electronics, Inc.                                    | CUSIP: 042735100<br>LEI: 549300YNNLBXT8N8R512 | Long             | EC               | CORP              | US        |     89488 | NS      | $10593589.44  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Civitas Resources, Inc.                   | Civitas Resources, Inc.                                    | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Long             | EC               | CORP              | US        |     48994 | NS      | $1340965.78   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Travel + Leisure Co.                      | Travel + Leisure Co.                                       | CUSIP: 894164102<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | EC               | CORP              | US        |     26182 | NS      | $1271659.74   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynatrace, Inc.                           | Dynatrace, Inc.                                            | CUSIP: 268150109<br>LEI: 6488T0Z33CE9L61EX904 | Long             | EC               | CORP              | US        |     10916 | NS      | $589573.16    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Penske Automotive Group, Inc.             | Penske Automotive Group, Inc.                              | CUSIP: 70959W103<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | EC               | CORP              | US        |     63649 | NS      | $10449892.82  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| NOV Inc.                                  | NOV Inc.                                                   | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |    206711 | NS      | $2480532.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Penumbra, Inc.                            | Penumbra, Inc.                                             | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |      1460 | NS      | $389776.20    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Kyndryl Holdings, Inc.                    | Kyndryl Holdings, Inc.                                     | CUSIP: 50155Q100<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | EC               | CORP              | US        |    146086 | NS      | $5703197.44   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| US Foods Holding Corp.                    | US Foods Holding Corp.                                     | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |    190939 | NS      | $15107093.68  | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Steel Corp.                 | United States Steel Corp.                                  | CUSIP: 912909108<br>LEI: JNLUVFYJT1OZSIQ24U47 | Long             | EC               | CORP              | US        |    135071 | NS      | $7269521.22   | 0.90%             |  |  |  | No            |                  1 | On Loan: —       |
| Visteon Corp.                             | Visteon Corp.                                              | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |     15200 | NS      | $1283260.00   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Holdings, Inc.                      | Crown Holdings, Inc.                                       | CUSIP: 228368106<br>LEI: NYLWZIOY8PUNIT4JOE22 | Long             | EC               | CORP              | US        |     43765 | NS      | $4310852.50   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowers Foods, Inc.                       | Flowers Foods, Inc.                                        | CUSIP: 343498101<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | EC               | CORP              | US        |     90993 | NS      | $1537781.70   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp.                      | Curtiss-Wright Corp.                                       | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |      3267 | NS      | $1437839.37   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Light & Wonder, Inc.                      | Light & Wonder, Inc.                                       | CUSIP: 80874P109<br>LEI: 529900JXALYBOHXKFM62 | Long             | EC               | CORP              | US        |     10282 | NS      | $926613.84    | 0.12%             |  |  |  | No            |                  1 | On Loan: —       |
| Lattice Semiconductor Corp.               | Lattice Semiconductor Corp.                                | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |      2818 | NS      | $126640.92    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Landstar System, Inc.                     | Landstar System, Inc.                                      | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |     10511 | NS      | $1442319.42   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO International, Inc.                 | WESCO International, Inc.                                  | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |     43804 | NS      | $7354253.56   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| BioMarin Pharmaceutical Inc.              | BioMarin Pharmaceutical Inc.                               | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |     13233 | NS      | $768440.31    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| GameStop Corp.                            | GameStop Corp., Class A                                    | CUSIP: 36467W109<br>LEI: 549300505KLOET039L77 | Long             | EC               | CORP              | US        |     64797 | NS      | $1930950.60   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Under Armour, Inc.                        | Under Armour, Inc., Class A                                | CUSIP: 904311107<br>LEI: 549300D4549QKWETZ406 | Long             | EC               | CORP              | US        |    121662 | NS      | $816352.02    | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Alaska Air Group, Inc.                    | Alaska Air Group, Inc.                                     | CUSIP: 011659109<br>LEI: 529900G48RT4KWLC6C27 | Long             | EC               | CORP              | US        |     72333 | NS      | $3683919.69   | 0.46%             |  |  |  | No            |                  1 | On Loan: —       |
| Kite Realty Group Trust                   | Kite Realty Group Trust                                    | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12730 | NS      | $281587.60    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv Inc.                              | Ovintiv Inc.                                               | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |     74673 | NS      | $2674786.86   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Scotts Miracle-Gro Co. (The)              | Scotts Miracle-Gro Co. (The)                               | CUSIP: 810186106<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | EC               | CORP              | US        |     18867 | NS      | $1123718.52   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Hims & Hers Health, Inc.                  | Hims & Hers Health, Inc.                                   | CUSIP: 433000106<br>LEI: 254900V041EIVTSB6D58 | Long             | EC               | CORP              | US        |     14307 | NS      | $809203.92    | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Brink's Co. (The)                         | Brink's Co. (The)                                          | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               | CORP              | US        |     19433 | NS      | $1594671.98   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmont Industries, Inc.                  | Valmont Industries, Inc.                                   | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |      4101 | NS      | $1304282.04   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Science Applications International Corp.  | Science Applications International Corp.                   | CUSIP: 808625107<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | EC               | CORP              | US        |     23179 | NS      | $2678101.66   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Banking System, Inc.             | Columbia Banking System, Inc.                              | CUSIP: 197236102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40644 | NS      | $950256.72    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Rambus Inc.                               | Rambus Inc.                                                | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |      3440 | NS      | $183936.80    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Coty Inc.                                 | Coty Inc., Class A                                         | CUSIP: 222070203<br>LEI: 549300BO9IWPF3S48F93 | Long             | EC               | CORP              | US        |    362753 | NS      | $1788372.29   | 0.22%             |  |  |  | No            |                  1 | On Loan: —       |
| ALLETE Inc.                               | ALLETE Inc.                                                | CUSIP: 018522300<br>LEI: 549300NNLSIMY6Z8OT86 | Long             | EC               | CORP              | US        |      7701 | NS      | $500873.04    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Choice Hotels International, Inc.         | Choice Hotels International, Inc.                          | CUSIP: 169905106<br>LEI: 5493003CYRY5RFGTIR97 | Long             | EC               | CORP              | US        |      4006 | NS      | $507480.08    | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Insperity, Inc.                           | Insperity, Inc.                                            | CUSIP: 45778Q107<br>LEI: 5299000Q0KW7HY5DB751 | Long             | EC               | CORP              | US        |     24676 | NS      | $1597030.72   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Independence Realty Trust, Inc.           | Independence Realty Trust, Inc.                            | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |     10092 | NS      | $187610.28    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Performance Food Group Co.                | Performance Food Group Co.                                 | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |    254635 | NS      | $22805110.60  | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Interactive Brokers Group, Inc.           | Interactive Brokers Group, Inc., Class A                   | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |     18040 | NS      | $3782627.20   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashland Inc.                              | Ashland Inc.                                               | CUSIP: 044186104<br>LEI: 529900E4L9R04SB8HB11 | Long             | EC               | CORP              | US        |     11858 | NS      | $587089.58    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Financial Corp.            | First American Financial Corp.                             | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |     31173 | NS      | $1739765.13   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Zions Bancorp., N.A.                      | Zions Bancorp., N.A.                                       | CUSIP: 989701107<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | EC               | CORP              | US        |     34251 | NS      | $1622127.36   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ExlService Holdings, Inc.                 | ExlService Holdings, Inc.                                  | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |     13105 | NS      | $602698.95    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR Group, Inc.                         | EMCOR Group, Inc.                                          | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |     12523 | NS      | $5909102.78   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologies, Inc.     | Applied Industrial Technologies, Inc.                      | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |      6527 | NS      | $1478496.04   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Cirrus Logic, Inc.                        | Cirrus Logic, Inc.                                         | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |      6192 | NS      | $609045.12    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Acuity Inc.                               | Acuity Inc.                                                | CUSIP: 00508Y102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4806 | NS      | $1249031.34   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| KB Home                                   | KB Home                                                    | CUSIP: 48666K109<br>LEI: 549300LGUCWQURMWLG09 | Long             | EC               | CORP              | US        |     37104 | NS      | $1913824.32   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Saia, Inc.                                | Saia, Inc.                                                 | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |      2850 | NS      | $753568.50    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Sonoco Products Co.                       | Sonoco Products Co.                                        | CUSIP: 835495102<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | EC               | CORP              | US        |     45826 | NS      | $2086916.04   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Ollie's Bargain Outlet Holdings, Inc.     | Ollie's Bargain Outlet Holdings, Inc.                      | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |      7239 | NS      | $806786.55    | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Globus Medical, Inc.                      | Globus Medical, Inc., Class A                              | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |     11617 | NS      | $687494.06    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CNH Industrial N.V.                       | CNH Industrial N.V.                                        | CUSIP: N20944109<br>LEI: 549300WGC2HZ5J67V817 | Long             | EC               | CORP              | NL        |    510930 | NS      | $6391734.30   | 0.79%             |  |  |  | No            |                  1 | On Loan: —       |
| Jazz Pharmaceuticals PLC                  | Jazz Pharmaceuticals PLC                                   | CUSIP: G50871105<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               | CORP              | IE        |      9971 | NS      | $1077565.97   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| V.F. Corp.                                | V.F. Corp.                                                 | CUSIP: 918204108<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | EC               | CORP              | US        |    194313 | NS      | $2421139.98   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyatt Hotels Corp.                        | Hyatt Hotels Corp., Class A                                | CUSIP: 448579102<br>LEI: T27JQIMTYSH41TCD5186 | Long             | EC               | CORP              | US        |     17646 | NS      | $2329801.38   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Financial, Inc.         | Fidelity National Financial, Inc.                          | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |     73108 | NS      | $4004125.16   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Somnigroup International Inc.             | Somnigroup International Inc.                              | CUSIP: 88023U101<br>LEI: 549300HFEKVR3US71V91 | Long             | EC               | CORP              | US        |     28872 | NS      | $1878412.32   | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| Universal Display Corp.                   | Universal Display Corp.                                    | CUSIP: 91347P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1411 | NS      | $202266.85    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Casey's General Stores, Inc.              | Casey's General Stores, Inc.                               | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |     12244 | NS      | $5359933.44   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| PotlatchDeltic Corp.                      | PotlatchDeltic Corp.                                       | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Long             | EC               | CORP              | US        |      7860 | NS      | $309212.40    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcoa Corp.                               | Alcoa Corp.                                                | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |    121524 | NS      | $3253197.48   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp.                   | Webster Financial Corp.                                    | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |     27636 | NS      | $1422701.28   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Crocs, Inc.                               | Crocs, Inc.                                                | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |     13238 | NS      | $1350276.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Shift4 Payments, Inc.                     | Shift4 Payments, Inc., Class A                             | CUSIP: 82452J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12123 | NS      | $1149139.17   | 0.14%             |  |  |  | No            |                  1 | On Loan: —       |
| DENTSPLY SIRONA Inc.                      | DENTSPLY SIRONA Inc.                                       | CUSIP: 24906P109<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Long             | EC               | CORP              | US        |     81345 | NS      | $1299893.10   | 0.16%             |  |  |  | No            |                  1 | On Loan: —       |
| DT Midstream, Inc.                        | DT Midstream, Inc.                                         | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3428 | NS      | $359048.72    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Thor Industries, Inc.                     | Thor Industries, Inc.                                      | CUSIP: 885160101<br>LEI: 254900XZO1228PDSG060 | Long             | EC               | CORP              | US        |     39810 | NS      | $3232173.90   | 0.40%             |  |  |  | No            |                  1 | On Loan: —       |
| Avient Corp.                              | Avient Corp.                                               | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |     26547 | NS      | $959143.11    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Consolidated, Inc.              | Coca-Cola Consolidated, Inc.                               | CUSIP: 191098102<br>LEI: 57VG5X0E00X0QJU7CQ58 | Long             | EC               | CORP              | US        |     16962 | NS      | $1944693.30   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corp.                 | United Therapeutics Corp.                                  | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |      3080 | NS      | $982058.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc.                   | Cousins Properties Inc.                                    | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |      9626 | NS      | $270201.82    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Burlington Stores, Inc.                   | Burlington Stores, Inc.                                    | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |     14374 | NS      | $3281152.98   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Gold, Inc.                          | Royal Gold, Inc.                                           | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |      1525 | NS      | $271633.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Hexcel Corp.                              | Hexcel Corp.                                               | CUSIP: 428291108<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | EC               | CORP              | US        |     11069 | NS      | $585439.41    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Sotera Health Co.                         | Sotera Health Co.                                          | CUSIP: 83601L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31856 | NS      | $389917.44    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| CNX Resources Corp.                       | CNX Resources Corp.                                        | CUSIP: 12653C108<br>LEI: 549300JK3KH8PWM3B226 | Long             | EC               | CORP              | US        |     16261 | NS      | $524905.08    | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| KBR, Inc.                                 | KBR, Inc.                                                  | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |     50254 | NS      | $2622756.26   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Wyndham Hotels & Resorts, Inc.            | Wyndham Hotels & Resorts, Inc.                             | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |      5036 | NS      | $416880.08    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Times Co. (The)                  | New York Times Co. (The), Class A                          | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |     17746 | NS      | $1013651.52   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| RB Global, Inc.                           | RB Global, Inc.                                            | CUSIP: 74935Q107<br>LEI: 5493002H8U24DJXQ4886 | Long             | EC               | CORP              | CA        |     14432 | NS      | $1519689.60   | 0.19%             |  |  |  | No            |                  1 | On Loan: —       |
| Exelixis, Inc.                            | Exelixis, Inc.                                             | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |     19168 | NS      | $824990.72    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Knife River Corp.                         | Knife River Corp.                                          | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10682 | NS      | $1005176.20   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc.                      | Eagle Materials Inc.                                       | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |      3557 | NS      | $719260.97    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanover Insurance Group, Inc. (The)       | Hanover Insurance Group, Inc. (The)                        | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |     12529 | NS      | $2204853.42   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics, Inc.               | Halozyme Therapeutics, Inc.                                | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |      5443 | NS      | $305189.01    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane Co.                                 | Crane Co.                                                  | CUSIP: 224408104<br>LEI: 5493000CQRQOTHUODL75 | Long             | EC               | CORP              | US        |      4875 | NS      | $835575.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Rad Laboratories, Inc.                | Bio-Rad Laboratories, Inc., Class A                        | CUSIP: 090572207<br>LEI: 549300ZC1GPV35XYDK53 | Long             | EC               | CORP              | US        |      3360 | NS      | $762484.80    | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Pilgrim's Pride Corp.                     | Pilgrim's Pride Corp.                                      | CUSIP: 72147K108<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | EC               | CORP              | US        |    114938 | NS      | $5650352.08   | 0.70%             |  |  |  | No            |                  1 | On Loan: —       |
| Coherent Corp.                            | Coherent Corp.                                             | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |     25913 | NS      | $1959800.19   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensata Technologies Holding PLC          | Sensata Technologies Holding PLC                           | CUSIP: G8060N102<br>LEI: 529900MS7KFYCY9MS037 | Long             | EC               | CORP              | GB        |     48309 | NS      | $1258932.54   | 0.16%             |  |  |  | No            |                  1 | On Loan: —       |
| Primerica, Inc.                           | Primerica, Inc.                                            | CUSIP: 74164M108<br>LEI: 254900621R686KJR7022 | Long             | EC               | CORP              | US        |      3756 | NS      | $1016373.60   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemed Corp.                              | Chemed Corp.                                               | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |      1357 | NS      | $780057.88    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackbaud, Inc.                           | Blackbaud, Inc.                                            | CUSIP: 09227Q100<br>LEI: 54930056X3HKFMNG3754 | Long             | EC               | CORP              | US        |      5829 | NS      | $362738.67    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Graco Inc.                                | Graco Inc.                                                 | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Long             | EC               | CORP              | US        |      8298 | NS      | $702508.68    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastgroup Properties, Inc.                | Eastgroup Properties, Inc.                                 | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |      1151 | NS      | $195152.05    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Lancaster Colony Corp.                    | Lancaster Colony Corp.                                     | CUSIP: 513847103<br>LEI: 529900X4O13HED1ZAS58 | Long             | EC               | CORP              | US        |      3454 | NS      | $578199.60    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NewMarket Corp.                           | NewMarket Corp.                                            | CUSIP: 651587107<br>LEI: 54930082CG88ERDREQ47 | Long             | EC               | CORP              | US        |      1751 | NS      | $1127749.06   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Unum Group                                | Unum Group                                                 | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |     54639 | NS      | $4464552.69   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Capital Bancshares, Inc.            | Texas Capital Bancshares, Inc.                             | CUSIP: 88224Q107<br>LEI: 549300466Q2SXRX0YM48 | Long             | EC               | CORP              | US        |      8809 | NS      | $631517.21    | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Roivant Sciences Ltd.                     | Roivant Sciences Ltd.                                      | CUSIP: G76279101<br>LEI: 549300DL466NY5J6U724 | Long             | EC               | CORP              | BM        |      2990 | NS      | $32860.10     | 0.00%             |  |  |  | No            |                  1 | On Loan: —       |
| Post Holdings, Inc.                       | Post Holdings, Inc.                                        | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |     23287 | NS      | $2575309.33   | 0.32%             |  |  |  | No            |                  1 | On Loan: —       |
| ESAB Corp.                                | ESAB Corp.                                                 | CUSIP: 29605J106<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | EC               | CORP              | US        |      7534 | NS      | $926606.66    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| EnerSys                                   | EnerSys                                                    | CUSIP: 29275Y102<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | EC               | CORP              | US        |     12175 | NS      | $1018195.25   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| LivaNova PLC                              | LivaNova PLC                                               | CUSIP: G5509L101<br>LEI: 2138001K2FX6SHK2B339 | Long             | EC               | CORP              | GB        |     10443 | NS      | $451659.75    | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Agree Realty Corp.                        | Agree Realty Corp.                                         | CUSIP: 008492100<br>LEI: 98450090H010B37OEB68 | Long             | EC               | CORP              | US        |      2655 | NS      | $199921.50    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| W.P. Carey Inc.                           | W.P. Carey Inc.                                            | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |      8405 | NS      | $527497.80    | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Silgan Holdings Inc.                      | Silgan Holdings Inc.                                       | CUSIP: 827048109<br>LEI: KAF673KJXD92C8KSLU49 | Long             | EC               | CORP              | US        |     39020 | NS      | $2148831.40   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group, Inc.               | Kinsale Capital Group, Inc.                                | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |      1164 | NS      | $549396.36    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| nVent Electric PLC                        | nVent Electric PLC                                         | CUSIP: G6700G107<br>LEI: 21380063ZX54EUEMBR73 | Long             | EC               | CORP              | IE        |     19448 | NS      | $1279678.40   | 0.16%             |  |  |  | No            |                  1 | On Loan: —       |
| Dolby Laboratories, Inc.                  | Dolby Laboratories, Inc., Class A                          | CUSIP: 25659T107<br>LEI: 549300X04FB2QPCJ5J24 | Long             | EC               | CORP              | US        |      5323 | NS      | $395285.98    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Lithia Motors, Inc.                       | Lithia Motors, Inc., Class A                               | CUSIP: 536797103<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | EC               | CORP              | US        |     39900 | NS      | $12644709.00  | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Brighthouse Financial, Inc.               | Brighthouse Financial, Inc.                                | CUSIP: 10922N103<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EC               | CORP              | US        |     28629 | NS      | $1712300.49   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Chord Energy Corp.                        | Chord Energy Corp.                                         | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |     16288 | NS      | $1465920.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| e.l.f. Beauty, Inc.                       | e.l.f. Beauty, Inc.                                        | CUSIP: 26856L103<br>LEI: 549300U2K9TCON25C029 | Long             | EC               | CORP              | US        |      6276 | NS      | $705987.24    | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Synaptics Inc.                            | Synaptics Inc.                                             | CUSIP: 87157D109<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | EC               | CORP              | US        |      5312 | NS      | $312133.12    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ManpowerGroup Inc.                        | ManpowerGroup Inc.                                         | CUSIP: 56418H100<br>LEI: ERO1WSFOSR0JJ6CRQ987 | Long             | EC               | CORP              | US        |    100137 | NS      | $4200747.15   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Cleveland-Cliffs Inc.                     | Cleveland-Cliffs Inc.                                      | CUSIP: 185899101<br>LEI: 549300TM2WLI2BJMDD86 | Long             | EC               | CORP              | US        |    644291 | NS      | $3756216.53   | 0.47%             |  |  |  | No            |                  1 | On Loan: —       |
| Ormat Technologies, Inc.                  | Ormat Technologies, Inc.                                   | CUSIP: 686688102<br>LEI: 5493000TSHHWY24VHM09 | Long             | EC               | CORP              | US        |      4039 | NS      | $300218.87    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties, Inc.         | Equity LifeStyle Properties, Inc.                          | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |      7528 | NS      | $478554.96    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Axalta Coating Systems Ltd.               | Axalta Coating Systems Ltd.                                | CUSIP: G0750C108<br>LEI: 529900AGLPA40GV6H619 | Long             | EC               | CORP              | BM        |     51198 | NS      | $1576898.40   | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| Dick's Sporting Goods, Inc.               | Dick's Sporting Goods, Inc.                                | CUSIP: 253393102<br>LEI: 529900SSBV5I4LWSK313 | Long             | EC               | CORP              | US        |     22647 | NS      | $4061512.98   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| ATI Inc.                                  | ATI Inc.                                                   | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | EC               | CORP              | US        |     28142 | NS      | $2241228.88   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| New Jersey Resources Corp.                | New Jersey Resources Corp.                                 | CUSIP: 646025106<br>LEI: 549300QKBSQBIX4DQ583 | Long             | EC               | CORP              | US        |     12486 | NS      | $572982.54    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| International Bancshares Corp.            | International Bancshares Corp.                             | CUSIP: 459044103<br>LEI: 549300Y16R531AU8TX77 | Long             | EC               | CORP              | US        |      5537 | NS      | $346782.31    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Midstream Corp.                    | Antero Midstream Corp.                                     | CUSIP: 03676B102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22684 | NS      | $426005.52    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Louisiana-Pacific Corp.                   | Louisiana-Pacific Corp.                                    | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |     10536 | NS      | $948977.52    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Union Co. (The)                   | Western Union Co. (The)                                    | CUSIP: 959802109<br>LEI: 28ID94QU1140NC23S047 | Long             | EC               | CORP              | US        |    129885 | NS      | $1205332.80   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortune Brands Innovations, Inc.          | Fortune Brands Innovations, Inc.                           | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Long             | EC               | CORP              | US        |     24844 | NS      | $1252137.60   | 0.16%             |  |  |  | No            |                  1 | On Loan: —       |
| Healthcare Realty Trust Inc.              | Healthcare Realty Trust Inc.                               | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               | CORP              | US        |     25377 | NS      | $367966.50    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Graham Holdings Co.                       | Graham Holdings Co., Class B                               | CUSIP: 384637104<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | EC               | CORP              | US        |      1722 | NS      | $1643494.02   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Duolingo, Inc.                            | Duolingo, Inc.                                             | CUSIP: 26603R106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       838 | NS      | $435433.18    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Hancock Whitney Corp.                     | Hancock Whitney Corp.                                      | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Long             | EC               | CORP              | US        |     13420 | NS      | $733671.40    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Churchill Downs Inc.                      | Churchill Downs Inc.                                       | CUSIP: 171484108<br>LEI: 529900FODTBQC8MIS994 | Long             | EC               | CORP              | US        |      8441 | NS      | $805862.27    | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| United Bankshares, Inc.                   | United Bankshares, Inc.                                    | CUSIP: 909907107<br>LEI: 5299005O3BAMJ9Z92V62 | Long             | EC               | CORP              | US        |     15439 | NS      | $557965.46    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MGIC Investment Corp.                     | MGIC Investment Corp.                                      | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |     17442 | NS      | $461340.90    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Albertsons Cos., Inc.                     | Albertsons Cos., Inc., Class A                             | CUSIP: 013091103<br>LEI: 549300YKWOC0AOR16R51 | Long             | EC               | CORP              | US        |   1166962 | NS      | $25941565.26  | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI International Inc.                   | CACI International Inc., Class A                           | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |      7226 | NS      | $3092728.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| MasTec, Inc.                              | MasTec, Inc.                                               | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |     34309 | NS      | $5349802.37   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| COPT Defense Properties                   | COPT Defense Properties                                    | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               | CORP              | US        |      9200 | NS      | $252540.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust                      | Vornado Realty Trust                                       | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15728 | NS      | $592473.76    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| East West Bancorp, Inc.                   | East West Bancorp, Inc.                                    | CUSIP: 27579R104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17156 | NS      | $1564627.20   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Macy's, Inc.                              | Macy's, Inc.                                               | CUSIP: 55616P104<br>LEI: 529900NZQ81TIOW3CW52 | Long             | EC               | CORP              | US        |    543382 | NS      | $6460811.98   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Ensign Group, Inc. (The)                  | Ensign Group, Inc. (The)                                   | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |     11075 | NS      | $1630904.50   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| American Airlines Group Inc.              | American Airlines Group Inc.                               | CUSIP: 02376R102<br>LEI: SJOGX7XK2CIBGNSF4D44 | Long             | EC               | CORP              | US        |   1630681 | NS      | $18606070.21  | 2.31%             |  |  |  | No            |                  1 | On Loan: —       |
| Onto Innovation Inc.                      | Onto Innovation Inc.                                       | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |      2399 | NS      | $220564.06    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| FTI Consulting, Inc.                      | FTI Consulting, Inc.                                       | CUSIP: 302941109<br>LEI: 549300K17GM8EQD0FQ48 | Long             | EC               | CORP              | US        |      7573 | NS      | $1243183.68   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Equitable Holdings, Inc.                  | Equitable Holdings, Inc.                                   | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |     92105 | NS      | $4869591.35   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Glacier Bancorp, Inc.                     | Glacier Bancorp, Inc.                                      | CUSIP: 37637Q105<br>LEI: 549300SMJAUKZB5D7V74 | Long             | EC               | CORP              | US        |      9361 | NS      | $388200.67    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Entegris, Inc.                            | Entegris, Inc.                                             | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |     11183 | NS      | $768719.42    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Fitness, Inc.                      | Planet Fitness, Inc., Class A                              | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |      4126 | NS      | $424276.58    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Genpact Ltd.                              | Genpact Ltd.                                               | CUSIP: G3922B107<br>LEI: 529900OSEC6Q0L4L5B35 | Long             | EC               | CORP              | BM        |     31906 | NS      | $1373553.30   | 0.17%             |  |  |  | No            |                  1 | On Loan: —       |
| Aramark                                   | Aramark                                                    | CUSIP: 03852U106<br>LEI: 549300MR6PG2DWZUIL39 | Long             | EC               | CORP              | US        |    167542 | NS      | $6785451.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: —       |
| H&R Block, Inc.                           | H&R Block, Inc.                                            | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |     23696 | NS      | $1349487.20   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthEquity, Inc.                        | HealthEquity, Inc.                                         | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |      3951 | NS      | $397510.11    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Weatherford International PLC             | Weatherford International PLC                              | CUSIP: G48833118<br>LEI: 529900LPBDSCQDJKHQ39 | Long             | EC               | CORP              | IE        |     33740 | NS      | $1471064.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Greif, Inc.                               | Greif, Inc., Class A                                       | CUSIP: 397624107<br>LEI: 54930070FVGKR0Z1FI24 | Long             | EC               | CORP              | US        |     33185 | NS      | $1845086.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Guidewire Software, Inc.                  | Guidewire Software, Inc.                                   | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               | CORP              | US        |      2007 | NS      | $431545.14    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Paylocity Holding Corp.                   | Paylocity Holding Corp.                                    | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |      2641 | NS      | $504166.90    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries, Inc.                    | Chart Industries, Inc.                                     | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |      9363 | NS      | $1468680.18   | 0.18%             |  |  |  | No            |                  1 | On Loan: —       |
| Dropbox, Inc.                             | Dropbox, Inc., Class A                                     | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |     33179 | NS      | $957545.94    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| SLM Corp.                                 | SLM Corp.                                                  | CUSIP: 78442P106<br>LEI: 4K8SLPBF5DXXGPW03H93 | Long             | EC               | CORP              | US        |     34585 | NS      | $1119516.45   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Starwood Property Trust, Inc.             | Starwood Property Trust, Inc.                              | CUSIP: 85571B105<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | EC               | CORP              | US        |     33959 | NS      | $670690.25    | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| IPG Photonics Corp.                       | IPG Photonics Corp.                                        | CUSIP: 44980X109<br>LEI: 5493002KZ51CADQ94G15 | Long             | EC               | CORP              | US        |      5381 | NS      | $356545.06    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Sarepta Therapeutics, Inc.                | Sarepta Therapeutics, Inc.                                 | CUSIP: 803607100<br>LEI: 549300IKDPIED8J8IG21 | Long             | EC               | CORP              | US        |      6224 | NS      | $234022.40    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Toll Brothers, Inc.                       | Toll Brothers, Inc.                                        | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |     33176 | NS      | $3458598.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryder System, Inc.                        | Ryder System, Inc.                                         | CUSIP: 783549108<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | EC               | CORP              | US        |     28724 | NS      | $4226162.12   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart                                 | CubeSmart                                                  | CUSIP: 229663109<br>LEI: 549300MPHKO3I3FJRA97 | Long             | EC               | CORP              | US        |      8372 | NS      | $357986.72    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA, Inc.                 | Comfort Systems USA, Inc.                                  | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |      6878 | NS      | $3289265.94   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Valaris Ltd.                              | Valaris Ltd.                                               | CUSIP: G9460G101<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |     21038 | NS      | $791449.56    | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Cullen/Frost Bankers, Inc.                | Cullen/Frost Bankers, Inc.                                 | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |      7580 | NS      | $962508.40    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Terex Corp.                               | Terex Corp.                                                | CUSIP: 880779103<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | EC               | CORP              | US        |     42599 | NS      | $1917380.99   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Range Resources Corp.                     | Range Resources Corp.                                      | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |     20637 | NS      | $785031.48    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations, Inc.                  | Power Integrations, Inc.                                   | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |      2421 | NS      | $120396.33    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Belden Inc.                               | Belden Inc.                                                | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |      7954 | NS      | $844714.80    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Corp.                       | First Horizon Corp.                                        | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |     87766 | NS      | $1744788.08   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Private Prime Fund                | Invesco Private Prime Fund                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |  92268148 | NS      | $92268147.94  | 11.47%            |  |  |  | No            |                  2 | On Loan: No      |
| National Storage Affiliates Trust         | National Storage Affiliates Trust                          | CUSIP: 637870106<br>LEI: 529900FS06O8GOYNR108 | Long             | EC               | CORP              | US        |      6736 | NS      | $231718.40    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Amedisys, Inc.                            | Amedisys, Inc.                                             | CUSIP: 023436108<br>LEI: 5299001RBS9GK9STN379 | Long             | EC               | CORP              | US        |      8381 | NS      | $788400.67    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety Inc.                           | MSA Safety Inc.                                            | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               | CORP              | US        |      3942 | NS      | $642427.74    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ChampionX Corp.                           | ChampionX Corp.                                            | CUSIP: 15872M104<br>LEI: 549300EP2909K6DYYP38 | Long             | EC               | CORP              | US        |     41731 | NS      | $1004465.17   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Valvoline Inc.                            | Valvoline Inc.                                             | CUSIP: 92047W101<br>LEI: 549300CMHPBEY6VPOT75 | Long             | EC               | CORP              | US        |     15791 | NS      | $546210.69    | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Envista Holdings Corp.                    | Envista Holdings Corp.                                     | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Long             | EC               | CORP              | US        |     49311 | NS      | $900911.97    | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| Kilroy Realty Corp.                       | Kilroy Realty Corp.                                        | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |     11259 | NS      | $362539.80    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Western Alliance Bancorporation           | Western Alliance Bancorporation                            | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |     21785 | NS      | $1577451.85   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ITT Inc.                                  | ITT Inc.                                                   | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |      9019 | NS      | $1357720.26   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentex Corp.                              | Gentex Corp.                                               | CUSIP: 371901109<br>LEI: 549300S3UD8XV1MN0287 | Long             | EC               | CORP              | US        |     31144 | NS      | $671776.08    | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Carlyle Group Inc. (The)                  | Carlyle Group Inc. (The)                                   | CUSIP: 14316J108<br>LEI: 529900NGGVF94UK6PG95 | Long             | EC               | CORP              | US        |     41404 | NS      | $1871460.80   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Grand Vacations Inc.               | Hilton Grand Vacations Inc.                                | CUSIP: 43283X105<br>LEI: 549300O9K6MFD8D07574 | Long             | EC               | CORP              | US        |     46013 | NS      | $1756316.21   | 0.22%             |  |  |  | No            |                  1 | On Loan: —       |
| Lantheus Holdings, Inc.                   | Lantheus Holdings, Inc.                                    | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |      4967 | NS      | $375306.52    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Black Hills Corp.                         | Black Hills Corp.                                          | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |     11847 | NS      | $692694.09    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott Vacations Worldwide Corp.        | Marriott Vacations Worldwide Corp.                         | CUSIP: 57164Y107<br>LEI: 549300WA6BT5H4F7IO94 | Long             | EC               | CORP              | US        |     23804 | NS      | $1567731.44   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co.                     | Lamar Advertising Co., Class A                             | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |      6351 | NS      | $765549.54    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Oshkosh Corp.                             | Oshkosh Corp.                                              | CUSIP: 688239201<br>LEI: 549300FEKNPCFSA2B506 | Long             | EC               | CORP              | US        |     36999 | NS      | $3669930.81   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Mattel, Inc.                              | Mattel, Inc.                                               | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |     86317 | NS      | $1634843.98   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Capri Holdings Ltd.                       | Capri Holdings Ltd.                                        | CUSIP: G1890L107<br>LEI: 549300LPG8W0H1OX3A26 | Long             | EC               | CORP              | VG        |     78144 | NS      | $1415969.28   | 0.18%             |  |  |  | No            |                  1 | On Loan: —       |
| MSC Industrial Direct Co., Inc.           | MSC Industrial Direct Co., Inc., Class A                   | CUSIP: 553530106<br>LEI: 0XVKH0LN6YGOWO2EGO17 | Long             | EC               | CORP              | US        |     16383 | NS      | $1330299.60   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Gas Holdings, Inc.              | Southwest Gas Holdings, Inc.                               | CUSIP: 844895102<br>LEI: 254900LKF9EV0CUKNE09 | Long             | EC               | CORP              | US        |     23003 | NS      | $1652305.49   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Novanta Inc.                              | Novanta Inc.                                               | CUSIP: 67000B104<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      2287 | NS      | $283176.34    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Nextracker Inc.                           | Nextracker Inc., Class A                                   | CUSIP: 65290E101<br>LEI: 2138001D4HUZ48PR8M23 | Long             | EC               | CORP              | US        |     20561 | NS      | $1165603.09   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Vail Resorts, Inc.                        | Vail Resorts, Inc.                                         | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               | CORP              | US        |      5989 | NS      | $959258.13    | 0.12%             |  |  |  | No            |                  1 | On Loan: —       |
| Spire Inc.                                | Spire Inc.                                                 | CUSIP: 84857L101<br>LEI: 549300NXSY15DRY2R511 | Long             | EC               | CORP              | US        |     10981 | NS      | $826649.68    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Darling Ingredients Inc.                  | Darling Ingredients Inc.                                   | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |     63723 | NS      | $1985608.68   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| GXO Logistics, Inc.                       | GXO Logistics, Inc.                                        | CUSIP: 36262G101<br>LEI: 5493007CNWMXN78JRN66 | Long             | EC               | CORP              | US        |    100304 | NS      | $4126506.56   | 0.51%             |  |  |  | No            |                  1 | On Loan: —       |
| Doximity, Inc.                            | Doximity, Inc., Class A                                    | CUSIP: 26622P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2773 | NS      | $144445.57    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Ciena Corp.                               | Ciena Corp.                                                | CUSIP: 171779309<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | EC               | CORP              | US        |     20051 | NS      | $1605283.06   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Associated Banc-Corp                      | Associated Banc-Corp                                       | CUSIP: 045487105<br>LEI: 549300N3CIN473IW5094 | Long             | EC               | CORP              | US        |     32226 | NS      | $746676.42    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co.                     | Matador Resources Co.                                      | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |     23690 | NS      | $1018906.90   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp.                  | Wintrust Financial Corp.                                   | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     11883 | NS      | $1418949.03   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| DocuSign, Inc.                            | DocuSign, Inc.                                             | CUSIP: 256163106<br>LEI: 549300Q7PVDWRZ39JG09 | Long             | EC               | CORP              | US        |     11952 | NS      | $1059066.72   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Pure Storage, Inc.                        | Pure Storage, Inc., Class A                                | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |     21601 | NS      | $1157597.59   | 0.14%             |  |  |  | No            |                  1 | On Loan: —       |
| Bruker Corp.                              | Bruker Corp.                                               | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Long             | EC               | CORP              | US        |     24617 | NS      | $903443.90    | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| Exponent, Inc.                            | Exponent, Inc.                                             | CUSIP: 30214U102<br>LEI: 529900NY3F5Q2NWPUZ42 | Long             | EC               | CORP              | US        |      2232 | NS      | $170390.88    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluor Corp.                               | Fluor Corp.                                                | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |    150801 | NS      | $6270305.58   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| AECOM                                     | AECOM                                                      | CUSIP: 00766T100<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | EC               | CORP              | US        |     56367 | NS      | $6191914.95   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| EchoStar Corp.                            | EchoStar Corp., Class A                                    | CUSIP: 278768106<br>LEI: 549300EE20907QZ9GT38 | Long             | EC               | CORP              | US        |    197533 | NS      | $3502260.09   | 0.44%             |  |  |  | No            |                  1 | On Loan: —       |
| Illumina, Inc.                            | Illumina, Inc.                                             | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               | CORP              | US        |     17071 | NS      | $1403919.04   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlisle Cos. Inc.                        | Carlisle Cos. Inc.                                         | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |      4992 | NS      | $1897858.56   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Trex Co., Inc.                            | Trex Co., Inc.                                             | CUSIP: 89531P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6883 | NS      | $384553.21    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Toro Co. (The)                            | Toro Co. (The)                                             | CUSIP: 891092108<br>LEI: YJKE4YIT6BWQHVEW0D14 | Long             | EC               | CORP              | US        |     20530 | NS      | $1555763.40   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane NXT, Co.                            | Crane NXT, Co.                                             | CUSIP: 224441105<br>LEI: 549300EXNPSXEWUD3N21 | Long             | EC               | CORP              | US        |      9188 | NS      | $492568.68    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Olin Corp.                                | Olin Corp.                                                 | CUSIP: 680665205<br>LEI: 549300GKK294V7W57P06 | Long             | EC               | CORP              | US        |     92048 | NS      | $1786651.68   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| YETI Holdings, Inc.                       | YETI Holdings, Inc.                                        | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |     18126 | NS      | $553930.56    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp.                   | Permian Resources Corp.                                    | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    123433 | NS      | $1556490.13   | 0.19%             |  |  |  | No            |                  1 | On Loan: —       |
| Tenet Healthcare Corp.                    | Tenet Healthcare Corp.                                     | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |     56057 | NS      | $9460739.89   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Beer Co., Inc. (The)               | Boston Beer Co., Inc. (The), Class A                       | CUSIP: 100557107<br>LEI: 529900Q02MQ0DCQNRM58 | Long             | EC               | CORP              | US        |      2835 | NS      | $651624.75    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| OGE Energy Corp.                          | OGE Energy Corp.                                           | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |     22131 | NS      | $984165.57    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Maplebear Inc.                            | Maplebear Inc.                                             | CUSIP: 565394103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28624 | NS      | $1307258.08   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Hamilton Lane Inc.                        | Hamilton Lane Inc., Class A                                | CUSIP: 407497106<br>LEI: 5493006OKN3V1NORM833 | Long             | EC               | CORP              | US        |      1592 | NS      | $237208.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| American Financial Group, Inc.            | American Financial Group, Inc.                             | CUSIP: 025932104<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EC               | CORP              | US        |     21969 | NS      | $2723716.62   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Wendy's Co. (The)                         | Wendy's Co. (The)                                          | CUSIP: 95058W100<br>LEI: 529900M0JIUCMWVKHG76 | Long             | EC               | CORP              | US        |     48434 | NS      | $552147.60    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Avnet, Inc.                               | Avnet, Inc.                                                | CUSIP: 053807103<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | EC               | CORP              | US        |    157617 | NS      | $7882426.17   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Music Group Corp.                  | Warner Music Group Corp., Class A                          | CUSIP: 934550203<br>LEI: QYRBV36XVCBJ28XL7W06 | Long             | EC               | CORP              | US        |     62262 | NS      | $1638735.84   | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| Polaris Inc.                              | Polaris Inc.                                               | CUSIP: 731068102<br>LEI: 549300QJSN8UVWN1EI78 | Long             | EC               | CORP              | US        |     53096 | NS      | $2082425.12   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Watsco, Inc.                              | Watsco, Inc.                                               | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Long             | EC               | CORP              | US        |      4969 | NS      | $2204099.33   | 0.27%             |  |  |  | No            |                  1 | On Loan: —       |
| RH                                        | RH                                                         | CUSIP: 74967X103<br>LEI: 5493008MTS3OGGMHGK69 | Long             | EC               | CORP              | US        |      4238 | NS      | $767544.18    | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| BJ's Wholesale Club Holdings, Inc.        | BJ's Wholesale Club Holdings, Inc., Class C                | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |     62092 | NS      | $7029435.32   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Chewy, Inc.                               | Chewy, Inc., Class A                                       | CUSIP: 16679L109<br>LEI: 254900NPQSTG9I422879 | Long             | EC               | CORP              | US        |    113289 | NS      | $5126327.25   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Reinsurance Group of America, Inc.        | Reinsurance Group of America, Inc.                         | CUSIP: 759351604<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EC               | CORP              | US        |     38783 | NS      | $7884196.07   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro Microsystems, Inc.                | Allegro Microsystems, Inc.                                 | CUSIP: 01749D105<br>LEI: 54930004TGPV6DR3LE12 | Long             | EC               | CORP              | US        |     10187 | NS      | $258240.45    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Carpenter Technology Corp.                | Carpenter Technology Corp.                                 | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |      5210 | NS      | $1224350.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| Silicon Laboratories Inc.                 | Silicon Laboratories Inc.                                  | CUSIP: 826919102<br>LEI: 4PRDF8Q9TDHRVZKZSZ47 | Long             | EC               | CORP              | US        |      1563 | NS      | $188388.39    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Reliance, Inc.                            | Reliance, Inc.                                             | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |     16385 | NS      | $4797855.70   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronet Worldwide, Inc.                   | Euronet Worldwide, Inc.                                    | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |     13196 | NS      | $1428862.88   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Industries, Inc.                      | UFP Industries, Inc.                                       | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |     20754 | NS      | $2024760.24   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Inc.                   | Jones Lang LaSalle Inc.                                    | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |     30453 | NS      | $6781883.10   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Cytokinetics, Inc.                        | Cytokinetics, Inc.                                         | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |       141 | NS      | $4373.82      | 0.00%             |  |  |  | No            |                  1 | On Loan: —       |
| Iridium Communications Inc.               | Iridium Communications Inc.                                | CUSIP: 46269C102<br>LEI: 549300U620NVQ4J1CT96 | Long             | EC               | CORP              | US        |      9986 | NS      | $253644.40    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus Henderson Group PLC                 | Janus Henderson Group PLC                                  | CUSIP: G4474Y214<br>LEI: 2138009WPYMWJN3RVF44 | Long             | EC               | CORP              | JE        |     22329 | NS      | $811212.57    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Essent Group Ltd.                         | Essent Group Ltd.                                          | CUSIP: G3198U102<br>LEI: 254900QUO860OUT6ZF83 | Long             | EC               | CORP              | BM        |      7383 | NS      | $428214.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Healthcare Co., Inc.               | Acadia Healthcare Co., Inc.                                | CUSIP: 00404A109<br>LEI: 5493005CW985Y9D0NC11 | Long             | EC               | CORP              | US        |     35980 | NS      | $814587.20    | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Kemper Corp.                              | Kemper Corp.                                               | CUSIP: 488401100<br>LEI: 549300FNI1JKTRY2PV09 | Long             | EC               | CORP              | US        |     23347 | NS      | $1487904.31   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| GATX Corp.                                | GATX Corp.                                                 | CUSIP: 361448103<br>LEI: 549300IHYHCQP2PIR591 | Long             | EC               | CORP              | US        |      3435 | NS      | $546989.40    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Government & Agency Portfolio     | Invesco Government & Agency Portfolio, Institutional Class | CUSIP: 825252885<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |    558472 | NS      | $558472.15    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| National Fuel Gas Co.                     | National Fuel Gas Co.                                      | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |      7778 | NS      | $641996.12    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| TXNM Energy, Inc.                         | TXNM Energy, Inc.                                          | CUSIP: 69349H107<br>LEI: 5493003JOBJGLZSDDQ28 | Long             | EC               | CORP              | US        |     12660 | NS      | $717695.40    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Comerica Inc.                             | Comerica Inc.                                              | CUSIP: 200340107<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | EC               | CORP              | US        |     27571 | NS      | $1574028.39   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Synovus Financial Corp.                   | Synovus Financial Corp.                                    | CUSIP: 87161C501<br>LEI: 549300EIUS8UN5JTLE54 | Long             | EC               | CORP              | US        |     25181 | NS      | $1204407.23   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Republic International Corp.          | Old Republic International Corp.                           | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               | CORP              | US        |     74157 | NS      | $2803134.60   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Drainage Systems, Inc.           | Advanced Drainage Systems, Inc.                            | CUSIP: 00790R104<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | EC               | CORP              | US        |      8819 | NS      | $969737.24    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontier Communications Parent, Inc.      | Frontier Communications Parent, Inc.                       | CUSIP: 35909D109<br>LEI: 549300ZCZ76HYCS0H445 | Long             | EC               | CORP              | US        |     54449 | NS      | $1972687.27   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO Financial Group, Inc.                 | CNO Financial Group, Inc.                                  | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |     37669 | NS      | $1429915.24   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Maximus, Inc.                             | Maximus, Inc.                                              | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |     26595 | NS      | $1928403.45   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Autoliv, Inc.                             | Autoliv, Inc.                                              | CUSIP: 052800109<br>LEI: A23RUXWKASG834LTMK28 | Long             | EC               | CORP              | US        |     37512 | NS      | $3856983.84   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corp.                           | Brunswick Corp.                                            | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |     30458 | NS      | $1541783.96   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                                  | Fabrinet                                                   | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |      5085 | NS      | $1184143.95   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Boyd Gaming Corp.                         | Boyd Gaming Corp.                                          | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |     19226 | NS      | $1441373.22   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Medpace Holdings, Inc.                    | Medpace Holdings, Inc.                                     | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |      2135 | NS      | $629611.50    | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Westlake Corp.                            | Westlake Corp.                                             | CUSIP: 960413102<br>LEI: GOXNEVUM0LL78B1OS344 | Long             | EC               | CORP              | US        |     37322 | NS      | $2650981.66   | 0.33%             |  |  |  | No            |                  1 | On Loan: —       |
| WEX Inc.                                  | WEX Inc.                                                   | CUSIP: 96208T104<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | EC               | CORP              | US        |      5747 | NS      | $763948.71    | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Harley-Davidson, Inc.                     | Harley-Davidson, Inc.                                      | CUSIP: 412822108<br>LEI: ZDNAWZWXIKMWI51R2A08 | Long             | EC               | CORP              | US        |     69662 | NS      | $1686517.02   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp.                    | Encompass Health Corp.                                     | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |     18737 | NS      | $2265303.30   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Taylor Morrison Home Corp.                | Taylor Morrison Home Corp., Class A                        | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |     45148 | NS      | $2540929.44   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ZoomInfo Technologies Inc.                | ZoomInfo Technologies Inc., Class A                        | CUSIP: 98980F104<br>LEI: 2549008GSAHW4UWFEM58 | Long             | EC               | CORP              | US        |     36494 | NS      | $348517.70    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| IDACORP, Inc.                             | IDACORP, Inc.                                              | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |      5256 | NS      | $625201.20    | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Graphic Packaging Holding Co.             | Graphic Packaging Holding Co.                              | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    110349 | NS      | $2451954.78   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ONE Gas, Inc.                             | ONE Gas, Inc.                                              | CUSIP: 68235P108<br>LEI: 549300HXDWI0LATTX840 | Long             | EC               | CORP              | US        |      9435 | NS      | $705360.60    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Abercrombie & Fitch Co.                   | Abercrombie & Fitch Co., Class A                           | CUSIP: 002896207<br>LEI: 5493000J7LL72TOGT983 | Long             | EC               | CORP              | US        |     21264 | NS      | $1669011.36   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX Corp.                           | TD SYNNEX Corp.                                            | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |    150410 | NS      | $18250749.40  | 2.27%             |  |  |  | No            |                  1 | On Loan: —       |
| Bank OZK                                  | Bank OZK                                                   | CUSIP: 06417N103<br>LEI: 549300VYK2WBD7SST478 | Long             | EC               | CORP              | US        |     20779 | NS      | $921133.07    | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| Ryan Specialty Holdings, Inc.             | Ryan Specialty Holdings, Inc., Class A                     | CUSIP: 78351F107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12056 | NS      | $862847.92    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Haemonetics Corp.                         | Haemonetics Corp.                                          | CUSIP: 405024100<br>LEI: 549300ZEL6TXZS6F5F95 | Long             | EC               | CORP              | US        |      6828 | NS      | $462323.88    | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Owens Corning                             | Owens Corning                                              | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |     25299 | NS      | $3388801.05   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Wingstop Inc.                             | Wingstop Inc.                                              | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |       933 | NS      | $318806.10    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Private Government Fund           | Invesco Private Government Fund                            | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |  35364097 | NS      | $35364097.31  | 4.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Sprouts Farmers Market, Inc.              | Sprouts Farmers Market, Inc.                               | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               | CORP              | US        |     18471 | NS      | $3192897.06   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognex Corp.                              | Cognex Corp.                                               | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               | CORP              | US        |      9698 | NS      | $290649.06    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Metals Co.                     | Commercial Metals Co.                                      | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |     58013 | NS      | $2702825.67   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| F.N.B. Corp.                              | F.N.B. Corp.                                               | CUSIP: 302520101<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | EC               | CORP              | US        |     64009 | NS      | $887804.83    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Donaldson Co., Inc.                       | Donaldson Co., Inc.                                        | CUSIP: 257651109<br>LEI: OZE6KXY9QQPR8EJ8WL20 | Long             | EC               | CORP              | US        |     17567 | NS      | $1221784.85   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Evercore Inc.                             | Evercore Inc., Class A                                     | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |      4964 | NS      | $1149116.36   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Middleby Corp. (The)                      | Middleby Corp. (The)                                       | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | EC               | CORP              | US        |      8375 | NS      | $1223838.75   | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| Commerce Bancshares, Inc.                 | Commerce Bancshares, Inc.                                  | CUSIP: 200525103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10404 | NS      | $655556.04    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Home BancShares, Inc.                     | Home BancShares, Inc.                                      | CUSIP: 436893200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17131 | NS      | $484635.99    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Qualys, Inc.                              | Qualys, Inc.                                               | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |      1611 | NS      | $223204.05    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Selective Insurance Group, Inc.           | Selective Insurance Group, Inc.                            | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |     19045 | NS      | $1676340.90   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy USA Inc.                           | Murphy USA Inc.                                            | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |     14736 | NS      | $6289177.44   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Below, Inc.                          | Five Below, Inc.                                           | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |     17065 | NS      | $1989267.05   | 0.25%             |  |  |  | No            |                  1 | On Loan: —       |
| Gap, Inc. (The)                           | Gap, Inc. (The)                                            | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |    235851 | NS      | $5261835.81   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Ally Financial Inc.                       | Ally Financial Inc.                                        | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EC               | CORP              | US        |    158959 | NS      | $5563565.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors, Inc.          | Omega Healthcare Investors, Inc.                           | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |      9464 | NS      | $350168.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM Technology Solutions Holdings, Inc. | MACOM Technology Solutions Holdings, Inc.                  | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2407 | NS      | $292715.27    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle Financial Partners, Inc.         | Pinnacle Financial Partners, Inc.                          | CUSIP: 72346Q104<br>LEI: 54930098EZ8JMSAZGS24 | Long             | EC               | CORP              | US        |      9743 | NS      | $1035486.04   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Timken Co. (The)                          | Timken Co. (The)                                           | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |     20469 | NS      | $1401921.81   | 0.17%             |  |  |  | No            |                  1 | On Loan: —       |
| MKS Inc.                                  | MKS Inc.                                                   | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |     14552 | NS      | $1196028.88   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated Hermes, Inc.                    | Federated Hermes, Inc., Class B                            | CUSIP: 314211103<br>LEI: R05X5UQ874RGFF7HHD84 | Long             | EC               | CORP              | US        |     14280 | NS      | $602616.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Affiliated Managers Group, Inc.           | Affiliated Managers Group, Inc.                            | CUSIP: 008252108<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EC               | CORP              | US        |      4155 | NS      | $731280.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| AptarGroup, Inc.                          | AptarGroup, Inc.                                           | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |      8066 | NS      | $1277654.40   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Under Armour, Inc.                        | Under Armour, Inc., Class C                                | CUSIP: 904311206<br>LEI: 549300D4549QKWETZ406 | Long             | EC               | CORP              | US        |    134576 | NS      | $847828.80    | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| PVH Corp.                                 | PVH Corp.                                                  | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | EC               | CORP              | US        |     43504 | NS      | $3644330.08   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co., Inc.           | Simpson Manufacturing Co., Inc.                            | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |      4672 | NS      | $727430.40    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Cabot Corp.                               | Cabot Corp.                                                | CUSIP: 127055101<br>LEI: K05C0SER542GQ6VLRO68 | Long             | EC               | CORP              | US        |     16178 | NS      | $1208334.82   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwestern Energy Group, Inc.           | Northwestern Energy Group, Inc.                            | CUSIP: 668074305<br>LEI: 254900N1WG46G1VMDM34 | Long             | EC               | CORP              | US        |      9065 | NS      | $501566.45    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Viper Energy, Inc.                        | Viper Energy, Inc.                                         | CUSIP: 927959106<br>LEI: 5299009LINL232255G03 | Long             | EC               | CORP              | US        |      6566 | NS      | $260604.54    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT, Inc.              | Sabra Health Care REIT, Inc.                               | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |     13714 | NS      | $239720.72    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumentum Holdings Inc.                    | Lumentum Holdings Inc.                                     | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |      7261 | NS      | $524825.08    | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Floor & Decor Holdings, Inc.              | Floor & Decor Holdings, Inc., Class A                      | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               | CORP              | US        |     16394 | NS      | $1175285.86   | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| Houlihan Lokey, Inc.                      | Houlihan Lokey, Inc.                                       | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Long             | EC               | CORP              | US        |      4710 | NS      | $822742.80    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Watts Water Technologies, Inc.            | Watts Water Technologies, Inc., Class A                    | CUSIP: 942749102<br>LEI: 549300REJOO94ERQN318 | Long             | EC               | CORP              | US        |      3542 | NS      | $857589.04    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ASGN Inc.                                 | ASGN Inc.                                                  | CUSIP: 00191U102<br>LEI: LZBNYYCBUKY537072438 | Long             | EC               | CORP              | US        |     19877 | NS      | $1049704.37   | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| NNN REIT, Inc.                            | NNN REIT, Inc.                                             | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |      6711 | NS      | $280251.36    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| UGI Corp.                                 | UGI Corp.                                                  | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |     72594 | NS      | $2617739.64   | 0.33%             |  |  |  | No            |                  1 | On Loan: —       |
| Rexford Industrial Realty, Inc.           | Rexford Industrial Realty, Inc.                            | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |      7833 | NS      | $276034.92    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Old National Bancorp                      | Old National Bancorp                                       | CUSIP: 680033107<br>LEI: 549300MMK90CL5KMVX16 | Long             | EC               | CORP              | US        |     47139 | NS      | $983319.54    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Co.             | Portland General Electric Co.                              | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |     23897 | NS      | $1013232.80   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| RenaissanceRe Holdings Ltd.               | RenaissanceRe Holdings Ltd.                                | CUSIP: G7496G103<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EC               | CORP              | BM        |     16314 | NS      | $4069037.88   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Valley National Bancorp                   | Valley National Bancorp                                    | CUSIP: 919794107<br>LEI: 549300ET52S1UBIB9762 | Long             | EC               | CORP              | US        |    135002 | NS      | $1185317.56   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingredion Inc.                            | Ingredion Inc.                                             | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |     18713 | NS      | $2603352.56   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| HF Sinclair Corp.                         | HF Sinclair Corp.                                          | CUSIP: 403949100<br>LEI: 2549009G116AM01XHN24 | Long             | EC               | CORP              | US        |    302385 | NS      | $10925170.05  | 1.36%             |  |  |  | No            |                  1 | On Loan: —       |
| Repligen Corp.                            | Repligen Corp.                                             | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Long             | EC               | CORP              | US        |      1415 | NS      | $167069.05    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Vontier Corp.                             | Vontier Corp.                                              | CUSIP: 928881101<br>LEI: 549300VVSQLG4P5K4639 | Long             | EC               | CORP              | US        |     29862 | NS      | $1067566.50   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Industries, Inc.                  | Mueller Industries, Inc.                                   | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |     15718 | NS      | $1223960.66   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Parsons Corp.                             | Parsons Corp.                                              | CUSIP: 70202L102<br>LEI: 549300ZXH0VRBSEPX752 | Long             | EC               | CORP              | US        |     38659 | NS      | $2506649.56   | 0.31%             |  |  |  | No            |                  1 | On Loan: —       |
| Manhattan Associates, Inc.                | Manhattan Associates, Inc.                                 | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |      2042 | NS      | $385488.76    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Option Care Health, Inc.                  | Option Care Health, Inc.                                   | CUSIP: 68404L201<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | EC               | CORP              | US        |     49965 | NS      | $1632856.20   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Grand Canyon Education, Inc.              | Grand Canyon Education, Inc.                               | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |      2000 | NS      | $395690.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Bank                              | Cadence Bank                                               | CUSIP: 12740C103<br>LEI: Q7C315HKI8VX0SSKBS64 | Long             | EC               | CORP              | US        |     32972 | NS      | $999051.60    | 0.12%             |  |  |  | No            |                  1 | On Loan: —       |
| AppFolio, Inc.                            | AppFolio, Inc., Class A                                    | CUSIP: 03783C100<br>LEI: 529900OOUUGT6JFC0S15 | Long             | EC               | CORP              | US        |      1226 | NS      | $258894.42    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Service Corp. International               | Service Corp. International                                | CUSIP: 817565104<br>LEI: 549300RKVM2ME20JHZ15 | Long             | EC               | CORP              | US        |     17560 | NS      | $1369680.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Flagstar Financial, Inc.                  | Flagstar Financial, Inc.                                   | CUSIP: 649445400<br>LEI: 529900HVXOTLY61GL030 | Long             | EC               | CORP              | US        |    180911 | NS      | $2084094.72   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Flex Ltd.                                 | Flex Ltd.                                                  | CUSIP: Y2573F102<br>LEI: 549300EAQH74YHD07T53 | Long             | EC               | CORP              | SG        |    245232 | NS      | $10373313.60  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexstar Media Group, Inc.                 | Nexstar Media Group, Inc., Class A                         | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |     10510 | NS      | $1791114.20   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| BILL Holdings, Inc.                       | BILL Holdings, Inc.                                        | CUSIP: 090043100<br>LEI: 549300IBF9VZZIGOZW63 | Long             | EC               | CORP              | US        |      9878 | NS      | $431471.04    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Amkor Technology, Inc.                    | Amkor Technology, Inc.                                     | CUSIP: 031652100<br>LEI: 529900VHLRTKPWZJBM84 | Long             | EC               | CORP              | US        |    106957 | NS      | $1927365.14   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Commvault Systems, Inc.                   | Commvault Systems, Inc.                                    | CUSIP: 204166102<br>LEI: 65T5VRP62VXG39YFML83 | Long             | EC               | CORP              | US        |      2016 | NS      | $369230.40    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Core & Main, Inc.                         | Core & Main, Inc., Class A                                 | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     49685 | NS      | $2723234.85   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** Adrien Deberghes

**Name of Signer:** Adrien Deberghes

**Title:** Vice President