Insightful Moves in the European Market: A Detailed Analysis of Recent Investments

Invesco EQV European Equity Fund (Trades, Portfolio), a notable mutual fund under Invesco Ltd., has recently disclosed its N-PORT filing for the third quarter of 2024. Established on November 3, 1997, the fund targets high-growth opportunities across both developed and emerging European markets. It focuses on a diversified portfolio of reasonably priced, quality companies, emphasizing strong fundamentals and sustainable earnings growth.

Summary of New Buys

The fund has strategically expanded its portfolio by adding four new stocks. Noteworthy among them is Teva Pharmaceutical Industries Ltd (TEVA, Financial), with a purchase of 341,255 shares, making up 1.25% of the portfolio and valued at $5.95 million. Following closely is Edenred SE (XPAR:EDEN, Financial), with 106,662 shares that represent about 0.93% of the portfolio, amounting to €4.44 million. Another significant addition was Arkema SA (XPAR:AKE, Financial), comprising 41,226 shares or 0.78% of the portfolio, valued at €3.72 million.

Key Position Increases

The fund has also increased its stakes in seven stocks, with BAE Systems PLC (LSE:BA., Financial) leading the pack. An additional 125,385 shares were acquired, bringing the total to 469,231 shares. This adjustment marks a substantial 36.47% increase in share count, impacting the portfolio by 0.44% and valued at £7.83 million. The second largest increase was in London Stock Exchange Group PLC (LSE:LSEG, Financial), with an additional 12,753 shares, totaling 58,652 shares and valued at £7.14 million.

Key Position Reductions

Conversely, the fund reduced its position in 23 stocks. The most significant reductions include FinecoBank SpA (MIL:FBK, Financial), which saw a decrease of 196,447 shares, resulting in a 26.15% reduction and a 0.66% portfolio impact. The stock traded at an average price of €14.91 during the quarter. Schneider Electric SE (XPAR:SU, Financial) also saw a reduction of 9,630 shares, marking an 18.87% decrease and a 0.48% impact on the portfolio, with the stock trading at an average price of €227.47 during the quarter.

Portfolio Overview

As of the third quarter of 2024, Invesco EQV European Equity Fund (Trades, Portfolio)'s portfolio included 56 stocks. The top holdings were 4.41% in Novo Nordisk AS (OCSE:NOVO B, Financial), 3.79% in Investor AB (OSTO:INVE B, Financial), 3.33% in RELX PLC (LSE:REL, Financial), 3.04% in ASML Holding NV (XAMS:ASML, Financial), and 2.94% in IG Group Holdings PLC (LSE:IGG, Financial). The holdings are predominantly concentrated across 10 of the 11 industries, including Industrials, Healthcare, Financial Services, Consumer Cyclical, Energy, Consumer Defensive, Communication Services, Technology, Basic Materials, and Real Estate.

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