NPORT-EX 2 edgar.htm
Schedule of Investments
Invesco Senior Loan ETF (BKLN)
May 31, 2024
(Unaudited)
  Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000) 		  Value
Variable Rate Senior Loan Interests-90.62%(a)(b)                
Aerospace & Defense-3.15%                
Peraton Corp., First Lien Term Loan B (1 mo. SOFR + 3.85%)
9.18%   02/01/2028   $ 148,798   $  149,166,858
TransDigm, Inc., Term Loan I (3 mo. SOFR + 2.75%)
8.06%   08/24/2028     105,671     106,270,649
                255,437,507
Air Transport-1.53%                
AAdvantage Loyality IP Ltd. (American Airlines, Inc.), Term Loan (3 mo. SOFR + 5.01%)
10.34%   04/20/2028     63,080       65,632,356
United AirLines, Inc., Term Loan B (1 mo. SOFR + 2.75%)
8.07%   02/22/2031     58,085      58,385,883
                124,018,239
Automotive-2.31%                
Mavis Tire Express Services Topco Corp., First Lien Term Loan (1 mo. SOFR + 3.75%)
9.08%   05/04/2028     59,303       59,751,885
Panther BF Aggregator 2 L.P.(Power Solutions, Clarios POWSOL), First Lien Term Loan (Canada) (1 mo. SOFR + 3.00%)
8.33%   05/06/2030     67,035       67,516,933
Wand NewCo 3, Inc., First Lien Term Loan (1 mo. SOFR + 3.75%)
9.08%   01/30/2031     59,770      60,320,136
                187,588,954
Beverage & Tobacco-1.91%                
AI Aqua Merger Sub, Inc., Term Loan B (1 mo. SOFR + 4.00%)
9.32%   07/31/2028     88,216       88,710,021
Triton Water Holdings, Inc., First Lien Term Loan (3 mo. SOFR + 3.51%)
8.81%   03/31/2028     66,006      65,987,511
                154,697,532
Building & Development-2.15%                
Cornerstone Building Brands, Inc., Term Loan B (1 mo. SOFR + 3.35%)
8.67%   04/12/2028     58,118       57,380,702
LBM Holdings LLC, First Lien Term Loan (1 mo. SOFR + 3.85%)
9.18%   12/17/2027     72,009       71,851,582
Quikrete Holdings, Inc., Term Loan B (1 mo. SOFR + 2.50%)
7.83%   04/14/2031     45,419      45,643,714
                174,875,998
Business Equipment & Services-9.59%                
Allied Universal Holdco LLC (USAGM Holdco LLC/UNSEAM), Term Loan (1 mo. SOFR + 3.85%)
9.18%   05/12/2028     98,849       98,973,445
Asurion LLC                            
Second Lien Term Loan B-4 (1 mo. SOFR + 5.36%)
10.69%   01/20/2029            65,997       61,727,482
Term Loan B-8 (1 mo. SOFR + 5.36%)
8.69%   12/23/2026            76,682       76,250,536
Boost Newco Borrower LLC (WorldPay), Term Loan (3 mo. Term SOFR + 3.00%)
8.31%   01/31/2031     107,587      108,177,277
Cloud Software Group, Inc., First Lien Term Loan B (1 mo. SOFR + 4.60%)
9.91%   03/30/2029     112,719      113,282,187
Dun & Bradstreet Corp. (The), Incremental Term Loan B-2 (1 mo. Term SOFR + 2.75%)
8.07%   01/18/2029     76,010       76,352,882
Endure Digital, Inc. (Eagle Company), Term Loan B (1 mo. SOFR + 3.61%)
8.93%   02/10/2028     33,765       31,712,438
Mitchell International, Inc., First Lien Term Loan (1 mo. SOFR + 3.86%)
9.19%   10/15/2028     62,854       63,076,931
Solera (Polaris Newco LLC), First Lien Term Loan (3 mo. SOFR + 4.26%)
9.59%   06/02/2028     89,477       89,637,075
Tempo Acquisition LLC, Incremental Term Loan (1 mo. SOFR + 2.75%)
8.08%   08/31/2028     58,486      58,705,496
                777,895,749
Cable & Satellite Television-4.22%                
Charter Communications Operating LLC, Term Loan B-2 (3 mo. SOFR + 1.75%)
7.05%   02/01/2027     75,623       75,657,511
CSC Holdings LLC, Term Loan (1 mo. USD LIBOR + 2.50%)
7.93%   04/15/2027     69,529       55,140,711
SFR-Numericable (YPSO, Altice France), Term Loan B-14 (France) (3 mo. SOFR + 5.50%)
10.83%   08/15/2028     93,535       70,736,083
Telenet - LG, Term Loan AR (1 mo. SOFR + 2.11%)
7.43%   04/30/2028     19,416       18,736,782
Virgin Media 02 - LG, Term Loan N (United Kingdom) (1 mo. SOFR + 2.61%)
7.93%   01/31/2028     69,676       67,921,622
Vodafone Ziggo - LG, Term Loan I (1 mo. SOFR + 2.61%)
7.93%   04/30/2028     55,025      54,416,201
                342,608,910
Chemicals & Plastics-2.30%                
AkzoNoble Chemicals, Term Loan B (3 mo. SOFR + 3.50%)
8.83%   04/03/2028     76,436       77,073,079
Charter NEX US, Inc., First Lien Term Loan (1 mo. SOFR + 3.50%)
8.83%   12/01/2027     35,271       35,473,475
Proampac PG Borrower LLC, Term Loan B (3 mo. SOFR + 4.00%)
9.32%   09/15/2028     22,841       23,020,629
Univar, Inc., Term Loan B (1 mo. SOFR + 4.00%)
9.32%   08/01/2030     50,693      51,353,131
                186,920,314
Clothing & Textiles-0.99%                
ABG Intermediate Holdings 2 LLC, First Lien Term Loan B-1 (1 mo. SOFR + 3.60%)
8.93%   12/21/2028     79,788      80,380,090
Containers & Glass Products-0.87%                
Flex Acquisition Co., Inc., First Lien Term Loan B (1 mo. SOFR + 3.78%)
9.10%   04/13/2029     70,215      70,667,476
See accompanying notes which are an integral part of this schedule.
Invesco Senior Loan ETF (BKLN)—(continued)
May 31, 2024
(Unaudited)
  Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000) 		  Value
Cosmetics & Toiletries-0.72%                
Bausch and Lomb, Inc., Term Loan (1 mo. SOFR + 3.35%)
8.67%   05/10/2027   $ 58,604   $   58,131,447
Drugs-2.74%                
Amneal Pharmaceuticals LLC, Term Loan (1 mo. SOFR + 5.50%)
10.83%   05/04/2028     35,912       36,338,220
Grifols Worldwide Operations USA, Inc., Term Loan B (3 mo. SOFR + 2.15%)
7.46%   11/15/2027     29,558       29,389,943
Jazz Pharmaceuticals, Inc., Term Loan B-1 (1 mo. SOFR + 3.11%)
8.44%   05/05/2028     61,578       62,159,933
Phoenix Guarantor, Inc. (BrightSpring Health Services), First Lien Term Loan B-4 (1 mo. SOFR + 3.25%)
8.58%   02/21/2031     61,375       61,484,554
Valeant Pharmaceuticals International, Inc., Term Loan B (Canada) (1 mo. SOFR + 5.35%)
10.67%   02/01/2027     36,392      33,048,373
                222,421,023
Electronics & Electrical-15.38%                
Applied Systems, Inc., First Lien Term Loan (3 mo. SOFR + 3.50%)
8.81%   02/24/2031     2,779        2,806,944
Boxer Parent Co., Inc., Term Loan (1 mo. SOFR + 4.00%)
9.33%   12/29/2028     88,594       89,353,632
Central Parent LLC, Term Loan (3 mo. SOFR + 3.25%)
8.58%   07/06/2029     80,320       81,073,500
CommScope, Inc., Term Loan (1 mo. SOFR + 3.36%)
8.69%   04/06/2026     73,726       66,390,268
CoreLogic, Inc., First Lien Term Loan (1 mo. SOFR + 3.61%)
8.94%   06/02/2028     85,569       84,659,743
Gen Digital, Inc.                            
Term Loan A (1 mo. SOFR + 1.60%)
6.93%   09/10/2027            89,933       90,148,452
Term Loan B (1 mo. SOFR + 2.10%)
7.43%   09/12/2029            66,067       66,220,123
McAfee Enterprise, First Lien Term Loan (3 mo. SOFR + 5.26%)
10.59%   07/27/2028     69,548       41,946,223
McAfee LLC                            
Term Loan B (1 mo. SOFR + 3.25%)
8.58%   03/01/2029             1,112        1,114,462
Term Loan B-1 (1 mo. SOFR + 3.75%)
9.16%   03/01/2029           130,756      131,025,910
Modena Buyer LLC (End User Computing), First Lien Term Loan(c)
-   04/18/2031     34,894       34,203,541
Open Text Corp., Term Loan (Canada) (1 mo. SOFR + 2.25%)
7.58%   01/31/2030     54,746       55,169,799
Proofpoint, Inc.                            
Term Loan B(c)
-   08/31/2028            82,145       82,468,791
Term Loan B (1 mo. SOFR + 3.00%)
8.32%   08/31/2028                62           62,446
Qlik Technologies, Term Loan (3 mo. Term SOFR + 4.75%)
10.08%   10/28/2030     54,072       54,497,006
Quest Software US Holdings, Inc., First Lien Term Loan (3 mo. SOFR + 4.40%)
9.73%   02/01/2029     64,480       48,218,937
RealPage, Inc., First Lien Term Loan (1 mo. SOFR + 3.11%)
8.44%   04/24/2028     81,319       80,363,494
SS&C Technologies Holdings, Inc., Term Loan B-8 (1 mo. SOFR + 2.00%)
7.32%   05/09/2031     32,867       33,036,925
Syncsort, Inc., First Lien Term Loan (3 mo. SOFR + 4.51%)
9.84%   04/24/2028     61,224       60,956,227
Ultimate Software Group, Inc., First Lien Term Loan (1 mo. SOFR + 3.50%)
8.82%   02/10/2031     143,412     144,660,002
                1,248,376,425
Financial Intermediaries-3.41%                
Aretec Group, Inc.                            
Term Loan B (1 mo. SOFR + 4.10%)
9.43%   08/09/2030            18,300       18,414,375
Term Loan B-1(c)
-   08/09/2030            40,696       40,950,715
AssuredPartners, Inc., Term Loan B-5 (1 mo. SOFR + 3.50%)
8.83%   02/14/2031     33,181       33,470,325
Broadstreet Partners, Inc., Term Loan B(c)
-   05/09/2031     26,247       26,390,109
Citadel Securities L.P., Term Loan (1 mo. SOFR + 2.25%)
7.58%   07/29/2030     90,181       90,795,579
Jane Street Group LLC, Term Loan (1 mo. Term SOFR + 2.61%)
7.94%   01/26/2028     66,071      66,363,910
                276,385,013
Food Products-0.76%                
Froneri International PLC, First Lien Term Loan B-2 (United Kingdom) (1 mo. SOFR + 2.35%)
7.68%   01/29/2027     61,632      61,795,886
Food Service-3.55%                
IRB Holding Corp., Term Loan B (1 mo. Term SOFR + 2.85%)
8.18%   12/15/2027     107,298      107,839,784
New Red Finance, Inc.                            
Incremental Term Loan B-5(c)
-   09/23/2030               699          700,925
Term Loan B-5 (1 mo. Term SOFR + 2.25%)
7.58%   09/20/2030           110,212      110,488,469
Whatabrands LLC                            
Term Loan B(c)
-   08/03/2028            61,703       61,868,223
Term Loan B (1 mo. SOFR + 2.75%)
8.08%   08/03/2028             6,952       6,970,784
                287,868,185
Health Care-9.16%                
athenahealth Group, Inc., Term Loan (1 mo. SOFR + 3.25%)
8.58%   02/15/2029     148,214      148,224,828
DaVita, Inc., Term Loan B-1(c)
-   08/12/2026     54,460      54,541,073
See accompanying notes which are an integral part of this schedule.
Invesco Senior Loan ETF (BKLN)—(continued)
May 31, 2024
(Unaudited)
  Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000) 		  Value
Health Care-(continued)                
Elanco Animal Health, Inc., Term Loan (1 mo. SOFR + 1.85%)
7.16%   08/01/2027   $ 95,335   $   95,330,546
Gainwell Acquisition Corp., First Lien Term Loan B (3 mo. SOFR + 4.10%)
9.41%   10/01/2027     102,561       99,954,843
Icon PLC                            
Term Loan (3 mo. SOFR + 2.00%)
7.31%   07/03/2028             2,135        2,151,496
Term Loan (3 mo. SOFR + 2.00%)
7.31%   07/03/2028             8,569        8,634,664
Mozart Debt Merger Sub, Inc. (Medline Industries), Term Loan B (1 mo. Term SOFR + 2.75%)
8.08%   10/23/2028     113,752      114,637,196
PAREXEL International Corp., First Lien Term Loan (1 mo. SOFR + 3.36%)
8.69%   11/15/2028     79,410       79,960,206
Syneos Health, Inc., Term Loan (3 mo. Term SOFR + 4.00%)
9.31%   09/27/2030     63,340       63,471,111
Verscend Holding Corp., Term Loan B (3 mo. SOFR + 3.25%)
8.56%   05/01/2031     76,000      76,427,880
                743,333,843
Home Furnishings-1.08%                
Hunter Douglas Holding B.V., Term Loan B-1 (3 mo. SOFR + 3.50%)
8.84%   02/26/2029     87,785      87,581,426
Industrial Equipment-2.30%                
Madison IAQ LLC, Term Loan (1 mo. SOFR + 3.36%)
8.69%   06/21/2028     59,380       59,576,563
MKS Instruments, Inc., Term Loan B (1 mo. SOFR + 2.50%)
7.82%   08/17/2029     61,534       61,955,909
Thyssenkrupp Elevators (Vertical Midco GmbH), Term Loan B-2 (Germany) (1 mo. SOFR + 3.50%)
8.79%   04/30/2030     64,924      65,434,327
                186,966,799
Insurance-6.29%                
Acrisure LLC, First Lien Term Loan (1 mo. USD LIBOR + 3.50%)
8.94%   02/15/2027     78,709       78,856,101
Alliant Holdings Intermediate LLC, Term Loan B-6 (1 mo. SOFR + 3.50%)
8.82%   11/06/2030     29,625       29,778,285
AmWINS Group LLC, Term Loan (1 mo. SOFR + 2.36%)
7.69%   02/19/2028     62,747       62,952,220
Hub International Ltd., Term Loan B (1 mo. SOFR + 3.25%)
8.58%   06/20/2030     104,906      105,723,029
Hyperion Insurance Group Ltd., Term Loan (United Kingdom) (1 mo. SOFR + 3.50%)
8.83%   02/15/2031     72,887       73,391,589
Sedgwick Claims Management Services, Inc., Term Loan (1 mo. SOFR + 3.75%)
9.08%   02/24/2028     81,301       81,814,251
Truist Insurance Holdings, Term Loan B (2 mo. SOFR + 3.25%)
8.59%   05/06/2031     20,051       20,208,305
USI, Inc., Term Loan B (3 mo. SOFR + 3.00%)
8.30%   11/22/2029     57,732      57,924,075
                510,647,855
Leisure Goods, Activities & Movies-0.79%                
UFC Holdings LLC, Term Loan B-3 (3 mo. SOFR + 3.01%)
8.34%   04/29/2026     63,722      63,997,511
Lodging & Casinos-3.84%                
Caesars Entertainment, Inc.                            
Incremental Term Loan B (3 mo. SOFR + 2.75%)
8.10%   02/06/2030            51,645       51,877,898
Term Loan (3 mo. SOFR + 2.75%)
8.10%   02/06/2031            78,813       79,158,243
Fertitta Entertainment LLC (Golden Nugget), Term Loan (1 mo. SOFR + 3.75%)
9.07%   01/27/2029     86,067       86,426,347
Stars Group (US) Co-Borrower LLC, Term Loan B (3 mo. SOFR + 2.25%)
7.56%   11/25/2030     93,809      94,316,504
                311,778,992
Nonferrous Metals & Minerals-0.73%                
Prince Mineral Holding Corp., Term Loan (3 mo. SOFR + 4.25%)
9.71%   04/23/2029     60,105      59,436,733
Publishing-2.38%                
Micro Holding L.P., First Lien Incremental Term Loan (1 mo. SOFR + 4.25%)
9.58%   05/03/2028     116,001      116,337,573
Nielsen Finance LLC, First Lien Term Loan B (3 mo. SOFR + 5.10%)
10.41%   04/11/2029     79,511      76,429,894
                192,767,467
Radio & Television-0.04%                
DIRECTV Financing LLC, Term Loan B (1 mo. SOFR + 5.11%)
10.44%   08/02/2027     3,074       3,089,619
Rail Industries-0.77%                
Genesee & Wyoming, Inc., Term Loan B (2 mo. SOFR + 2.00%)
7.30%   04/10/2031     61,963      62,174,758
Retailers (except Food & Drug)-2.26%                
Bass Pro Group LLC, Term Loan B-2 (1 mo. SOFR + 3.86%)
9.19%   03/06/2028     112,973      113,291,416
Harbor Freight Tools USA, Inc., Term Loan (1 mo. SOFR + 2.86%)
8.19%   10/19/2027     69,943      70,056,261
                183,347,677
Telecommunications-3.67%                
CCI Buyer, Inc. (Consumer Cellular), First Lien Term Loan (3 mo. SOFR + 4.00%)
9.30%   12/17/2027     18,061       18,172,925
Genesys Cloud Services Holdings I LLC, Term Loan B (1 mo. SOFR + 3.50%)
8.83%   12/01/2027     63,224      63,749,174
See accompanying notes which are an integral part of this schedule.
Invesco Senior Loan ETF (BKLN)—(continued)
May 31, 2024
(Unaudited)
  Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000) 		  Value
Telecommunications-(continued)                
II-VI, Inc., Term Loan B (1 mo. SOFR + 2.50%)
7.83%   07/02/2029   $ 60,190   $   60,611,532
Radiate Holdco LLC, Term Loan B (1 mo. SOFR + 3.36%)
8.69%   09/25/2026     78,062       61,852,429
Zayo Group Holdings, Inc., Term Loan (1 mo. SOFR + 3.11%)
8.44%   03/09/2027     107,369      93,411,344
                297,797,404
Utilities-1.73%                
Brookfield WEC Holdings, Inc., First Lien Term Loan (1 mo. SOFR + 2.75%)
8.08%   01/27/2031     86,700       87,237,546
Vistra Operations Co. LLC, Incremental Term Loan (1 mo. SOFR + 2.00%)
7.33%   12/20/2030     52,853      53,102,307
                140,339,853
Total Variable Rate Senior Loan Interests

(Cost $7,287,319,118)
  7,353,328,685
U.S. Dollar Denominated Bonds & Notes-3.67%                
Aerospace & Defense-0.13%                
TransDigm, Inc.(d)
6.75%   08/15/2028     7,000        7,088,133
TransDigm, Inc.(d)
6.88%   12/15/2030     3,000       3,040,320
                10,128,453
Capital Markets-0.30%                
Aretec Group, Inc.(d)
10.00%   08/15/2030     2,000        2,190,086
Boost Newco Borrower LLC(d)
7.50%   01/15/2031     21,718      22,525,296
                24,715,382
Commercial Services & Supplies-0.26%                
Allied Universal Holdco LLC(d)
7.88%   02/15/2031     14,444       14,413,365
Madison IAQ LLC(d)
4.13%   06/30/2028     2,000        1,854,938
Neptune Bidco US, Inc.(d)
9.29%   04/15/2029     5,000       4,781,259
                21,049,562
Construction Materials-0.05%                
Camelot Return Merger Sub, Inc.(d)
8.75%   08/01/2028     4,000       3,961,527
Diversified Telecommunication Services-0.05%                
Altice France S.A. (France)(d)
5.50%   10/15/2029     2,600        1,749,228
Radiate Holdco LLC/Radiate Finance, Inc.(d)
4.50%   09/15/2026     685          509,311
Zayo Group Holdings, Inc.(d)
4.00%   03/01/2027     2,000       1,561,457
                3,819,996
Electric Utilities-0.02%                
Vistra Operations Co. LLC(d)
4.30%   07/15/2029     2,000       1,874,506
Financial Services-0.19%                
Jane Street Group/JSG Finance, Inc.(d)
7.13%   04/30/2031     15,000      15,281,010
Ground Transportation-0.06%                
Genesee & Wyoming, Inc.(d)
6.25%   04/15/2032     5,000       4,948,312
Health Care Equipment & Supplies-0.38%                
Bausch & Lomb Corp.(d)
8.38%   10/01/2028     2,000        2,037,500
Medline Borrower L.P.(d)
3.88%   04/01/2029     23,000       20,953,731
Medline Borrower L.P./Medline Co-Issuer, Inc.(d)
6.25%   04/01/2029     8,000       8,011,616
                31,002,847
Health Care Providers & Services-0.01%                
Star Parent, Inc.(d)
9.00%   10/01/2030     1,000       1,043,992
Hotels, Restaurants & Leisure-0.30%                
1011778 BC ULC/New Red Finance, Inc. (Canada)(d)
3.88%   01/15/2028     15,000       13,946,871
1011778 BC ULC/New Red Finance, Inc. (Canada)(d)
3.50%   02/15/2029     4,000        3,602,140
1011778 BC ULC/New Red Finance, Inc. (Canada)(d)
4.00%   10/15/2030     2,000        1,741,706
Caesars Entertainment, Inc.(d)
7.00%   02/15/2030     2,000        2,022,852
Caesars Entertainment, Inc.(d)
6.50%   02/15/2032     2,859       2,828,915
                24,142,484
Independent Power and Renewable Electricity Producers-0.10%                
Vistra Operations Co. LLC(d)
5.13%   05/13/2025     8,030       7,996,359
See accompanying notes which are an integral part of this schedule.
Invesco Senior Loan ETF (BKLN)—(continued)
May 31, 2024
(Unaudited)
  Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000) 		  Value
Insurance-0.63%                
Acrisure LLC/Acrisure Finance, Inc.(d)
4.25%   02/15/2029   $ 7,282   $    6,632,258
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer(d)
7.00%   01/15/2031     11,161       11,197,486
AmWINS Group, Inc.(d)
6.38%   02/15/2029     1,080        1,078,029
HUB International Ltd.(d)
7.25%   06/15/2030     18,000       18,301,121
Panther Escrow Issuer LLC(d)
7.13%   06/01/2031     14,044      14,172,523
                51,381,417
IT Services-0.04%                
Newfold Digital Holdings Group, Inc.(d)
11.75%   10/15/2028     3,000       3,061,587
Machinery-0.16%                
TK Elevator U.S. Newco, Inc. (Germany)(d)
5.25%   07/15/2027     13,000      12,552,020
Media-0.36%                
Charter Communications Operating LLC/Charter Communications Operating Capital Corp.
4.91%   07/23/2025     1,000          990,026
Charter Communications Operating LLC/Charter Communications Operating Capital Corp.
6.48%   10/23/2045     475          438,668
CSC Holdings LLC(d)
6.50%   02/01/2029     2,000        1,355,315
Telenet Finance Luxembourg Notes S.a.r.l. (Belgium)(d)
5.50%   03/01/2028     6,400        6,068,224
Virgin Media Secured Finance PLC (United Kingdom)(d)
5.50%   05/15/2029     1,500        1,358,341
Virgin Media Secured Finance PLC (United Kingdom)(d)
4.50%   08/15/2030     13,000       10,908,823
VZ Secured Financing B.V. (Netherlands)(d)
5.00%   01/15/2032     6,190        5,258,365
Ziggo B.V. (Netherlands)(d)
4.88%   01/15/2030     3,000       2,676,630
                29,054,392
Passenger Airlines-0.15%                
American Airlines, Inc./AAdvantage Loyalty IP Ltd.(d)
5.50%   04/20/2026     2,197        2,177,942
American Airlines, Inc./AAdvantage Loyalty IP Ltd.(d)
5.75%   04/20/2029     5,128        4,963,184
United AirLines, Inc.(d)
4.38%   04/15/2026     895          862,951
United AirLines, Inc.(d)
4.63%   04/15/2029     4,478       4,142,514
                12,146,591
Pharmaceuticals-0.10%                
Bausch Health Cos., Inc.(d)
11.00%   09/30/2028     5,500        4,812,500
Organon & Co./Organon Foreign Debt Co-Issuer B.V.(d)
4.13%   04/30/2028     3,832       3,542,522
                8,355,022
Professional Services-0.04%                
CoreLogic, Inc.(d)
4.50%   05/01/2028     4,000       3,617,255
Software-0.27%                
Central Parent LLC/CDK Global II LLC/CDK Financing Co., Inc.(d)
8.00%   06/15/2029     1,000        1,029,754
Cloud Software Group, Inc.(d)
6.50%   03/31/2029     2,000        1,898,407
Cloud Software Group, Inc.(d)
9.00%   09/30/2029     7,750        7,505,502
Cloud Software Group, Inc.(d)
8.25%   06/30/2032     3,658        3,697,221
SS&C Technologies, Inc.(d)
6.50%   06/01/2032     7,500       7,526,205
                21,657,089
Specialty Retail-0.07%                
Wand NewCo 3, Inc.(d)
7.63%   01/30/2032     5,331       5,467,175
Total U.S. Dollar Denominated Bonds & Notes

(Cost $304,238,515)
  297,256,978
          Shares    
Money Market Funds-13.80%                
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 5.22%(e)(f)

(Cost $1,120,300,401)
          1,120,300,401   1,120,300,401
TOTAL INVESTMENTS IN SECURITIES-108.09%

(Cost $8,711,858,034)
  8,770,886,064
OTHER ASSETS LESS LIABILITIES-(8.09)%
  (656,716,928)
NET ASSETS-100.00%
  $8,114,169,136
    
See accompanying notes which are an integral part of this schedule.
Invesco Senior Loan ETF (BKLN)—(continued)
May 31, 2024
(Unaudited)
Investment Abbreviations:
LIBOR -London Interbank Offered Rate
SOFR -Secured Overnight Financing Rate
USD -U.S. Dollar
    
Notes to Schedule of Investments:
(a) Variable rate senior loan interests often require prepayments from excess cash flow or permit the borrower to repay at its election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with any accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, it is anticipated that the variable rate senior loan interests will have an expected average life of three to five years.
(b) Variable rate senior loan interests are, at present, not readily marketable, not registered under the Securities Act of 1933, as amended (the “1933 Act”) and may be subject to contractual and legal restrictions on sale. Variable rate senior loan interests in the Fund’s portfolio generally have variable rates which adjust to a base, such as the Secured Overnight Financing Rate ("SOFR"), on set dates, typically every 30 days, but not greater than one year, and/or have interest rates that float at margin above a widely recognized base lending rate such as the Prime Rate of a designated U.S. bank.
(c) This variable rate interest will settle after May 31, 2024, at which time the interest rate will be determined.
(d) Security purchased or received in a transaction exempt from registration under the 1933 Act. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at May 31, 2024 was $295,828,284, which represented 3.65% of the Fund’s Net Assets.
(e) Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in 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 affiliates for the nine months ended May 31, 2024. 
    
  Value
August 31, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
May 31, 2024 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $384,904,842   $9,081,511,687   $(8,346,116,128)   $-   $-   $1,120,300,401   $35,872,029
    
(f) The rate shown is the 7-day SEC standardized yield as of May 31, 2024.
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 Schedule of Portfolio Holdings
May 31, 2024
(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.
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, 2024. 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
Investments in Securities              
Variable Rate Senior Loan Interests $-   $7,353,328,685   $-   $7,353,328,685
U.S. Dollar Denominated Bonds & Notes -   297,256,978   -   297,256,978
Money Market Funds 1,120,300,401   -   -   1,120,300,401
Total Investments $1,120,300,401   $7,650,585,663   $-   $8,770,886,064