Insightful Portfolio Adjustments in the Fourth Quarter of 2024

Invesco EQV European Equity Fund (Trades, Portfolio) recently submitted its N-PORT filing for the fourth quarter of 2024, shedding light on its strategic investment decisions during this period. The Invesco European Growth Fund, a mutual fund under Invesco Ltd., was established on November 3, 1997. It aims to capitalize on high-growth opportunities within developed and emerging European markets. The fund's strategy involves investing in a diversified portfolio of reasonably priced, quality companies across Europe, with a focus on strong fundamentals and sustainable earnings growth.

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Summary of New Buy

Invesco EQV European Equity Fund (Trades, Portfolio) added a total of three stocks, with the most significant addition being Deutsche Telekom AG (XTER:DTE). The fund acquired 162,848 shares, which account for 1.09% of the portfolio, with a total value of 4.92 million. The second largest addition was Amplifon SpA (MIL:AMP), consisting of 133,713 shares, representing approximately 0.83% of the portfolio, with a total value of 3.74 million. The third largest addition was SGS AG (XSWX:SGSN), with 33,078 shares, accounting for 0.78% of the portfolio and a total value of CHF3.50 million.

Key Position Increases

Invesco EQV European Equity Fund (Trades, Portfolio) also increased its stakes in a total of seven stocks. The most notable increase was in CTS Eventim AG & Co. KGaA (XTER:EVD), with an additional 27,609 shares, bringing the total to 42,667 shares. This adjustment represents a significant 183.35% increase in share count, impacting the portfolio by 0.65%, with a total value of 4.48 million. The second largest increase was in Edenred SE (XPAR:EDEN), with an additional 23,932 shares, bringing the total to 130,594. This adjustment represents a 22.44% increase in share count, with a total value of 4.22 million.

Summary of Sold Out

Invesco EQV European Equity Fund (Trades, Portfolio) completely exited two holdings in the fourth quarter of 2024. The fund sold all 2,714,350 shares of Hays PLC (LSE:HAS), resulting in a -0.69% impact on the portfolio. Additionally, it liquidated all 56,160 shares of Reckitt Benckiser Group PLC (LSE:RKT), causing a -0.63% impact on the portfolio.

Key Position Reduces

Invesco EQV European Equity Fund (Trades, Portfolio) also reduced its position in 17 stocks. The most significant changes include a reduction in Svenska Handelsbanken AB (OSTO:SHB A) by 315,489 shares, resulting in a -41.18% decrease in shares and a -0.67% impact on the portfolio. The stock traded at an average price of kr104.54 during the quarter and has returned 7.09% over the past three months and 9.38% year-to-date. Additionally, the fund reduced its position in Compagnie Financiere Richemont SA (XSWX:CFR) by 18,220 shares, resulting in a -31.42% reduction in shares and a -0.58% impact on the portfolio. The stock traded at an average price of CHF127.81 during the quarter and has returned 14.61% over the past three months and 20.39% year-to-date.

Portfolio Overview

At the end of the fourth quarter of 2024, Invesco EQV European Equity Fund (Trades, Portfolio)'s portfolio included 57 stocks. The top holdings were 3.97% in Novo Nordisk AS (OCSE:NOVO B), 3.63% in Investor AB (OSTO:INVE B), 3.43% in RELX PLC (LSE:REL), 2.98% in Deutsche Boerse AG (XTER:DB1), and 2.79% in IG Group Holdings PLC (LSE:IGG).

The holdings are mainly concentrated in 10 of the 11 industries: Industrials, Healthcare, Financial Services, Communication Services, Consumer Cyclical, Energy, Basic Materials, Consumer Defensive, Technology, and Real Estate.

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