NPORT-EX 2 edgar.htm EDGAR HTML
Schedule of Investments  
March 31, 2025
(Unaudited)
 
 
Principal
Amount
Value
U.S. Government Sponsored Agency Mortgage-Backed
Securities–112.47%
Collateralized Mortgage Obligations–5.09%
Fannie Mae Grantor Trust,
Series 1999-T2, Class A1,
7.50%, 01/19/2039(a)
 
$78,294
$78,168
Fannie Mae Interest STRIPS,
IO,
7.00%, 02/25/2028(b)
 
85,098
4,773
6.50%, 04/25/2029 to
02/25/2033(b)
 
679,395
76,989
8.00%, 05/25/2030(b)
 
159,375
20,101
7.50%, 01/25/2032(b)
 
47,038
3,799
6.00%, 02/25/2033 to
09/25/2035(b)
 
879,283
106,627
6.00%, 10/25/2033(d)
 
70,719
10,416
5.50%, 11/25/2033 to
06/25/2035(b)
 
452,730
63,310
PO,
0.00%, 09/25/2032(c)
 
25,258
22,870
Fannie Mae REMICs,
IO,
2.50%, 12/25/2025 to
08/25/2049(b)
 
18,845,340
2,546,741
3.00%, 10/25/2026 to
07/25/2045(b)
 
3,680,240
2,758,779
8.00%, 08/18/2027 to
09/18/2027(b)
 
52,257
2,706
6.50%, 10/25/2028 to
05/25/2033(b)
 
61,809
53,124
0.75%, 10/25/2031(b)
 
2,010
26
2.25% (6.70% - (30 Day Average
SOFR + 0.11%)), 10/25/2031 to
05/25/2035(b)(e)
 
386,372
31,265
3.45% (7.90% - (30 Day Average
SOFR + 0.11%)),
11/25/2031(b)(e)
 
48,788
4,842
3.44% (7.90% - (30 Day Average
SOFR + 0.11%)),
12/18/2031(b)(e)
 
30,361
1,697
3.50% (7.95% - (30 Day Average
SOFR + 0.11%)),
01/25/2032(b)(e)
 
32,137
2,865
3.54% (8.00% - (30 Day Average
SOFR + 0.11%)),
03/18/2032(b)(e)
 
75,764
7,491
3.65% (8.10% - (30 Day Average
SOFR + 0.11%)), 03/25/2032 to
04/25/2032(b)(e)
 
105,540
10,816
2.55% (7.00% - (30 Day Average
SOFR + 0.11%)), 04/25/2032 to
08/25/2032(b)(e)
 
163,810
13,283
3.35% (7.80% - (30 Day Average
SOFR + 0.11%)),
04/25/2032(b)(e)
 
33,754
3,614
3.55% (8.00% - (30 Day Average
SOFR + 0.11%)), 07/25/2032 to
09/25/2032(b)(e)
 
214,621
23,257
3.64% (8.10% - (30 Day Average
SOFR + 0.11%)),
12/18/2032(b)(e)
 
131,871
11,388
 
Principal
Amount
Value
Collateralized Mortgage Obligations–(continued)
3.80% (8.25% - (30 Day Average
SOFR + 0.11%)), 02/25/2033 to
05/25/2033(b)(e)
 
$187,008
$26,364
6.00%, 05/25/2033(b)
 
9,401
1,404
1.60% (6.05% - (30 Day Average
SOFR + 0.11%)), 03/25/2035 to
07/25/2038(b)(e)
 
544,040
43,900
2.30% (6.75% - (30 Day Average
SOFR + 0.11%)),
03/25/2035(b)(e)
 
27,825
1,440
2.15% (6.60% - (30 Day Average
SOFR + 0.11%)),
05/25/2035(b)(e)
 
110,639
6,859
3.50%, 08/25/2035 to
08/25/2042(b)
 
1,078,790
111,219
4.00%, 03/25/2041 to
08/25/2047(b)
 
494,324
283,371
2.10% (6.55% - (30 Day Average
SOFR + 0.11%)),
10/25/2041(b)(e)
 
94,032
7,508
1.70% (6.15% - (30 Day Average
SOFR + 0.11%)),
12/25/2042(b)(e)
 
323,415
36,573
4.50%, 02/25/2043(b)
 
214,089
26,212
5.50%, 07/25/2046(b)
 
212,958
28,667
1.45% (5.90% - (30 Day Average
SOFR + 0.11%)),
09/25/2047(b)(e)
 
1,400,902
134,800
2.00%, 03/25/2051(b)
 
5,817,105
760,808
1.91%, 02/25/2056(d)
 
3,417,922
189,678
7.00%, 03/18/2027 to
05/25/2033(b)
 
189,276
95,331
5.45% (30 Day Average SOFR +
1.11%), 12/25/2031 to
12/25/2032(e)
 
217,744
219,375
5.46% (30 Day Average SOFR +
1.11%), 03/18/2032 to
12/18/2032(e)
 
194,799
196,620
4.95% (30 Day Average SOFR +
0.61%), 08/25/2032 to
06/25/2046(e)
 
709,618
704,714
4.96% (30 Day Average SOFR +
0.61%), 10/18/2032(e)
 
21,017
20,950
4.85% (30 Day Average SOFR +
0.51%), 03/25/2033 to
03/25/2042(e)
 
134,689
133,533
4.79% (30 Day Average SOFR +
0.45%), 06/25/2035(e)
 
508,525
504,532
4.80% (30 Day Average SOFR +
0.46%), 08/25/2035 to
10/25/2035(e)
 
295,112
293,502
8.23% (24.57% - (3.67 x
(30 Day Average SOFR +
0.11%))), 03/25/2036(e)
 
94,018
109,342
7.87% (24.20% - (3.67 x (30 Day
Average SOFR + 0.11%))),
06/25/2036(e)
 
57,946
66,823
7.87% (24.20% - (3.67 x (30 Day
Average SOFR + 0.11%))),
06/25/2036(e)
 
60,331
66,312
See accompanying notes which are an integral part of this schedule.
Invesco Quality Income Fund
 
Principal
Amount
Value
Collateralized Mortgage Obligations–(continued)
5.39% (30 Day Average SOFR +
1.05%), 06/25/2037(e)
 
$496,743
$502,031
4.90% (30 Day Average SOFR +
0.56%), 08/25/2037(e)
 
317,035
312,897
6.60%, 06/25/2039(a)
 
224,676
233,743
Freddie Mac Multifamily Structured
Pass-Through Ctfs.,
Series K051, Class X1, IO,
0.48%, 09/25/2025(d)
 
49,634,708
85,853
Series K734, Class X1, IO,
0.63%, 02/25/2026(d)
 
15,771,467
49,264
Series K735, Class X1, IO,
0.96%, 05/25/2026(d)
 
15,112,648
120,998
Series K093, Class X1, IO,
0.94%, 05/25/2029(d)
 
12,627,730
409,241
Series Q004, Class AFL,
5.31% (12 mo. MTA Rate +
0.74%), 05/25/2044(e)
 
275,410
275,403
Freddie Mac REMICs,
3.50%, 11/15/2025 to
05/15/2032
 
287,786
282,044
1.50%, 08/15/2027
 
5,933,807
5,764,874
6.95%, 03/15/2028
 
44,141
44,592
6.50%, 08/15/2028 to
03/15/2032
 
575,323
584,549
5.06% (30 Day Average SOFR +
0.71%), 01/15/2029 to
12/15/2032(e)
 
49,147
49,192
6.00%, 01/15/2029 to
04/15/2029
 
81,043
82,171
4.81% (30 Day Average SOFR +
0.46%), 02/15/2029(e)
 
45,853
45,741
5.37% (30 Day Average SOFR +
1.01%), 03/15/2029(e)
 
52,359
52,533
4.86% (30 Day Average SOFR +
0.51%), 06/15/2029 to
01/15/2033(e)
 
85,359
85,021
5.11% (30 Day Average SOFR +
0.76%), 07/15/2029(e)
 
12,293
12,290
8.00%, 03/15/2030
 
25,038
25,978
5.41% (30 Day Average SOFR +
1.06%), 08/15/2031(e)
 
51,598
52,086
4.96% (30 Day Average SOFR +
0.61%), 02/15/2032 to
03/15/2032(e)
 
152,364
151,876
5.46% (30 Day Average SOFR +
1.11%), 02/15/2032 to
03/15/2032(e)
 
103,787
104,579
5.01% (30 Day Average SOFR +
0.66%), 03/15/2032 to
10/15/2036(e)
 
378,034
375,575
8.39% (24.75% - (3.67 x
(30 Day Average SOFR +
0.11%))), 08/15/2035(e)
 
15,839
17,417
4.76% (30 Day Average SOFR +
0.41%), 03/15/2036(e)
 
828,271
821,348
4.91% (30 Day Average SOFR +
0.56%), 07/15/2037(e)
 
51,662
51,403
4.94% (30 Day Average SOFR +
0.61%), 03/15/2042(e)
 
70,574
70,833
IO,
3.00%, 07/15/2026 to
12/15/2027(b)
 
1,425,986
51,659
 
Principal
Amount
Value
Collateralized Mortgage Obligations–(continued)
3.19% (7.65% - (30 Day Average
SOFR + 0.11%)),
07/15/2026(b)(e)
 
$2,836
$41
2.50%, 09/15/2027 to
09/25/2048(b)
 
8,654,226
1,661,634
4.24% (8.70% - (30 Day Average
SOFR + 0.11%)),
07/17/2028(b)(e)
 
27
0
3.64% (8.10% - (30 Day Average
SOFR + 0.11%)), 06/15/2029 to
09/15/2029(b)(e)
 
79,471
4,771
2.24% (6.70% - (30 Day Average
SOFR + 0.11%)),
01/15/2035(b)(e)
 
454,850
27,288
2.29% (6.75% - (30 Day Average
SOFR + 0.11%)),
02/15/2035(b)(e)
 
67,690
4,043
2.26% (6.72% - (30 Day Average
SOFR + 0.11%)),
05/15/2035(b)(e)
 
90,430
5,165
2.54% (7.00% - (30 Day Average
SOFR + 0.11%)),
12/15/2037(b)(e)
 
9,848
1,062
1.54% (6.00% - (30 Day Average
SOFR + 0.11%)),
04/15/2038(b)(e)
 
24,915
2,161
1.61% (6.07% - (30 Day Average
SOFR + 0.11%)),
05/15/2038(b)(e)
 
623,511
58,319
4.00%, 06/15/2038 to
03/15/2045(b)
 
98,430
84,166
2.12%, 02/15/2039(d)
 
1,185,661
108,212
1.79% (6.25% - (30 Day Average
SOFR + 0.11%)),
12/15/2039(b)(e)
 
136,398
11,709
1.64% (6.10% - (30 Day Average
SOFR + 0.11%)),
01/15/2044(b)(e)
 
212,596
20,576
Freddie Mac Seasoned Loans
Structured Transaction,
Series 2019-1, Class A2,
3.50%, 05/25/2029
 
2,000,000
1,930,168
Freddie Mac STRIPS,
IO,
3.00%, 12/15/2027(b)
 
113,432
3,298
3.15%, 12/15/2027(d)
 
32,597
907
6.50%, 02/01/2028(b)
 
9,779
600
7.00%, 09/01/2029(b)
 
102,493
10,144
7.50%, 12/15/2029(b)
 
9,111
995
8.00%, 06/15/2031(b)
 
204,749
30,166
6.00%, 12/15/2032(b)
 
46,577
5,437
0.00%, 12/01/2031 to
03/01/2032(c)
 
126,542
113,831

4.96% (30 Day Average SOFR +
0.61%), 05/15/2036(e)
 
412,068
410,096
Freddie Mac Structured Pass-Through
Ctfs., Series T-54, Class 2A,
6.50%, 02/25/2043
 
1,089,462
1,102,974
Freddie Mac Whole Loan Securities
Trust, Series 2015-SC02,
Class 1A,
3.00%, 09/25/2045
 
208,238
181,075
 
 
26,422,813
See accompanying notes which are an integral part of this schedule.
Invesco Quality Income Fund
 
Principal
Amount
Value
Commercial & Residential Mortgage Finance–9.41%
TBA,
5.00%, 04/01/2040(f)
 
$700,000
$703,573
3.00%, 04/01/2055(f)
 
19,869,377
17,222,726
6.00%, 04/01/2055(f)
 
22,370,001
22,723,407
6.50%, 04/01/2055(f)
 
8,000,000
8,250,206
 
 
48,899,912
Federal Home Loan Mortgage Corp. (FHLMC)–30.81%
6.50%, 07/01/2028 to
04/01/2034
 
237,799
245,991
6.00%, 03/01/2029 to
10/01/2029
 
96,996
99,414
2.50%, 02/01/2031 to
04/01/2052
 
39,437,841
33,314,930
8.50%, 03/01/2031 to
08/01/2031
 
51,464
54,318
7.00%, 10/01/2031 to
10/01/2037
 
99,335
104,059
7.50%, 01/01/2032 to
08/01/2037
 
2,647,593
2,758,413
3.00%, 02/01/2032 to
05/01/2050
 
25,966,682
23,343,410
8.00%, 08/01/2032
 
34,754
36,421
5.50%, 12/01/2036 to
05/01/2053
 
26,653,385
26,849,022
5.00%, 01/01/2037 to
07/01/2052
 
7,607,036
7,523,153
4.50%, 05/01/2038 to
07/01/2052
 
14,565,053
14,122,187
5.35%, 07/01/2038 to
10/17/2038
 
869,767
877,945
5.45%, 11/25/2038
 
828,263
838,587
5.80%, 01/20/2039
 
326,210
327,731
4.00%, 06/01/2042 to
07/01/2049
 
14,247,622
13,554,348
3.50%, 09/01/2045 to
05/01/2050
 
15,524,735
14,253,292
2.00%, 05/01/2051 to
01/01/2052
 
23,140,026
18,553,362
ARM,
4.95% (1 yr. U.S. Treasury Yield
Curve Rate + 2.16%),
11/01/2048(e)
 
3,191,993
3,269,527
 
 
160,126,110
Federal National Mortgage Association (FNMA)–43.01%
4.50%, 07/01/2025 to
07/01/2044
 
2,993,564
2,952,003
5.50%, 09/01/2025 to
04/01/2038
 
2,031,167
2,069,773
6.50%, 01/01/2027 to
11/01/2038
 
1,112,030
1,151,552
7.50%, 02/01/2027 to
08/01/2037
 
910,993
936,428
5.00%, 06/01/2027 to
01/01/2053
 
7,765,326
7,677,184
6.00%, 05/01/2028 to
10/01/2053
 
10,185,894
10,476,929
3.00%, 02/01/2029 to
01/01/2052
 
42,931,315
38,729,925
7.00%, 04/01/2029 to
01/01/2036
 
715,700
747,521
9.50%, 04/01/2030
 
39
39
 
Principal
Amount
Value
Federal National Mortgage Association (FNMA)–(continued)
5.63%, 08/01/2032
 
$39,137
$38,985
8.50%, 10/01/2032
 
85,748
89,442
8.00%, 04/01/2033
 
82,489
86,521
3.50%, 11/01/2034 to
05/01/2050
 
34,750,590
32,499,302
2.00%, 09/01/2035 to
03/01/2052
 
72,387,942
59,848,885
5.45%, 01/01/2038
 
217,926
219,440
4.00%, 02/01/2042 to
03/01/2050
 
29,310,177
27,845,872
2.50%, 10/01/2050 to
02/01/2052
 
42,345,780
35,673,358
ARM,
6.86% (1 yr. Refinitiv USD IBOR
Consumer Cash Fallbacks +
1.58%), 04/01/2045(e)
 
2,391,826
2,473,307
 
 
223,516,466
Government National Mortgage Association (GNMA)–24.15%
3.00%, 12/16/2025 to
02/20/2050
 
2,330,298
2,077,191
7.00%, 12/15/2027 to
01/20/2030
 
75,899
76,672
6.50%, 03/15/2028 to
10/15/2028
 
7,952
8,047
6.00%, 06/15/2028 to
04/20/2029
 
31,511
32,244
7.50%, 06/15/2028 to
08/15/2028
 
58,628
58,833
5.50%, 05/15/2033 to
10/15/2034
 
177,806
180,522
6.95%, 11/20/2033(a)
 
341,256
355,054
5.00%, 11/20/2037
 
203,195
201,877
5.88%, 01/20/2039(a)
 
512,555
529,505
4.53%, 07/20/2041(a)
 
627,165
629,307
4.74%, 09/20/2041
 
422,291
426,314
4.89% (1 mo. Term SOFR +
0.56%), 07/20/2044(e)
 
324,138
328,542
3.50%, 05/20/2046 to
06/20/2050
 
9,480,087
8,745,741
4.00%, 02/20/2048 to
03/20/2050
 
3,233,729
3,035,243
IO,
2.22% (6.65% - (1 mo. Term
SOFR + 0.11%)),
04/16/2041(b)(e)
 
694,830
45,704
4.50%, 09/16/2047(b)
 
563,156
79,668
1.77% (6.20% - (1 mo. Term
SOFR + 0.11%)),
10/16/2047(b)(e)
 
552,306
66,096
TBA,
2.00%, 04/01/2055(f)
 
23,444,000
19,177,546
2.50%, 04/01/2055(f)
 
25,448,000
21,709,089
3.00%, 04/01/2055(f)
 
16,451,813
14,574,003
4.50%, 04/01/2055(f)
 
7,000,000
6,716,719
5.00%, 04/01/2055(f)
 
11,820,000
11,627,314
5.50%, 04/01/2055(f)
 
17,260,000
17,298,169
6.00%, 04/01/2055(f)
 
7,600,000
7,714,360
See accompanying notes which are an integral part of this schedule.
Invesco Quality Income Fund
 
Principal
Amount
Value
Government National Mortgage Association (GNMA)–
(continued)
6.50%, 04/01/2055(f)
 
$4,000,000
$4,095,217
Series 2020-137, Class A,
1.50%, 04/16/2062
 
7,565,448
5,704,486
 
 
125,493,463
Total U.S. Government Sponsored Agency
Mortgage-Backed Securities
(Cost $642,025,204)
584,458,764
Certificates of Deposit–5.20%
Diversified Banks–3.85%
Bank of Nova Scotia (Canada), 4.68%
(SOFR + 0.35%), 10/17/2025(e)
 
7,000,000
7,005,072
Mitsubishi UFJ Trust & Banking Corp.
(Japan), 4.68% (SOFR + 0.34%),
01/30/2026(e)
 
10,000,000
10,001,913
Mizuho Bank Ltd. (Japan), 4.66%
(SOFR + 0.33%), 02/19/2026(e)
 
3,000,000
3,000,825
 
 
20,007,810
Homebuilding–1.35%
Standard Chartered Bank (United
Kingdom), 4.73% (SOFR +
0.36%), 07/24/2025(e)
 
7,000,000
7,009,555
Total Certificates of Deposit (Cost $27,000,260)
27,017,365
 
Asset-Backed Securities–4.96%
Adjustable Rate Mortgage Trust,
Series 2005-7, Class 2A21,
0.77%, 10/25/2035(a)
 
141,322
124,130
Agate Bay Mortgage Trust,
Series 2015-2, Class B1, 3.62%,
03/25/2045(a)(g)
 
1,045,409
972,732
Banc of America Funding Trust,
Series 2006-A, Class 1A1,
5.49%, 02/20/2036(a)
 
135,707
129,093
Bank, Series 2017-BNK5, Class AS,
3.62%, 06/15/2060
 
3,200,000
3,085,863
Bear Stearns Adjustable Rate
Mortgage Trust, Series 2005-1,
Class 2A1, 2.16%,
03/25/2035(a)
 
516,226
474,444
Benchmark Mortgage Trust,
Series 2018-B1, Class XA, IO,
0.53%, 01/15/2051(d)
 
11,270,659
134,142
CD Mortgage Trust, Series 2017-
CD6, Class XA, IO, 0.89%,
11/13/2050(d)
 
5,803,387
96,716
Chase Mortgage Finance Corp.,
Series 2016-2, Class M4, 3.75%,
12/25/2045(a)(g)
 
1,213,294
1,113,060
Series 2016-SH1, Class M3,
3.75%, 04/25/2045(a)(g)
 
889,347
806,606
Chase Mortgage Finance Trust,
Series 2005-A1, Class 3A1,
3.93%, 12/25/2035(a)
 
10,730
9,453
Series 2007-A2, Class 2A1,
6.68%, 06/25/2035(a)
 
152,602
152,247
Series 2007-A2, Class 2A4,
6.68%, 06/25/2035(a)
 
140,972
139,985
Citigroup Commercial Mortgage Trust,
Series 2017-C4, Class XA, IO,
0.98%, 10/12/2050(d)
 
15,450,419
307,552
 
Principal
Amount
Value
 
Citigroup Mortgage Loan Trust, Inc.,
Series 2004-UST1, Class A4,
7.72%, 08/25/2034(a)
 
$21,550
$20,383
Series 2005-11, Class A2A,
7.23% (1 yr. U.S. Treasury Yield
Curve Rate + 2.40%),
10/25/2035(e)
 
350,302
363,003
Series 2006-AR2, Class 1A2,
2.56%, 03/25/2036(a)
 
5,786
5,674
COMM Mortgage Trust,
Series 2015-CR24, Class XA, IO,
0.68%, 08/10/2048(d)
 
28,828,609
288
Commonbond Student Loan Trust,
Series 2018-CGS, Class A1,
3.87%, 02/25/2046(g)
 
532,351
514,391
Countrywide Home Loans Mortgage
Pass-Through Trust,
Series 2004-29, Class 1A1,
4.97% (1 mo. Term SOFR +
0.65%), 02/25/2035(e)
 
77,610
74,390
Credit Suisse Mortgage Capital Trust,
Series 2013-7, Class B1, 3.54%,
08/25/2043(a)(g)
 
958,775
926,942
Credit Suisse Mortgage Loan Trust,
Series 2015-1, Class A9, 3.50%,
05/25/2045(a)(g)
 
276,063
253,131
CSFB Mortgage-Backed Pass-Through
Ctfs., Series 2004-AR5,
Class 5A1, 6.26%,
06/25/2034(a)
 
143,457
141,242
Deutsche Mortgage Securities, Inc.
Re-REMIC Trust Ctfs.,
Series 2007-WM1, Class A1,
4.50%, 06/27/2037(a)(g)
 
1,270,846
1,126,070
Galton Funding Mortgage Trust,
Series 2018-1, Class A33,
3.50%, 11/25/2057(a)(g)
 
211,934
193,273
GSAA Home Equity Trust,
Series 2007-7, Class A4, 4.97%
(1 mo. Term SOFR + 0.65%),
07/25/2037(e)
 
11,630
11,142
GSR Mortgage Loan Trust,
Series 2004-12, Class 3A6,
1.46%, 12/25/2034(a)
 
146,188
136,176
Series 2005-AR4, Class 6A1,
5.51%, 07/25/2035(a)
 
40,918
38,490
JP Morgan Mortgage Trust,
Series 2005-A1, Class 3A1,
5.68%, 02/25/2035(a)
 
181,670
173,984
Series 2014-1, Class 1A17,
0.79%, 01/25/2044(a)(g)
 
510,322
483,900
Series 2017-5, Class A1, 5.01%,
10/26/2048(a)(g)
 
127,531
128,546
Series 2019-INV2, Class A15,
3.50%, 02/25/2050(a)(g)
 
112,484
102,554
JP Morgan Trust, Series 2015-3,
Class A3, 3.50%,
05/25/2045(a)(g)
 
479,496
444,755
Luminent Mortgage Trust,
Series 2006-1, Class A1, 5.15%
(1 mo. Term SOFR + 0.83%),
04/25/2036(e)
 
24,060
20,818
MASTR Adjustable Rate Mortgages
Trust, Series 2004-13,
Class 2A2, 6.87%,
04/21/2034(a)
 
74,383
73,313
See accompanying notes which are an integral part of this schedule.
Invesco Quality Income Fund
 
Principal
Amount
Value
 
Merrill Lynch Mortgage Investors Trust,
Series 2005-3, Class 3A, 2.39%,
11/25/2035(a)
 
$124,082
$115,631
Series 2005-A, Class A1, 4.89%
(1 mo. Term SOFR + 0.57%),
03/25/2030(e)
 
180,698
171,923
Morgan Stanley Capital I Trust,
Series 2017-HR2, Class XA, IO,
0.85%, 12/15/2050(d)
 
5,335,165
102,884
Residential Accredit Loans, Inc. Trust,
Series 2006-QS13, Class 1A8,
6.00%, 09/25/2036
 
24,031
19,212
Sapphire Aviation Finance II Ltd.,
Series 2020-1A, Class B, 4.34%,
03/15/2040(g)
 
3,269,426
2,979,461
Shellpoint Asset Funding Trust,
Series 2013-1, Class A3, 3.75%,
07/25/2043(a)(g)
 
312,511
298,609
Structured Adjustable Rate Mortgage
Loan Trust,
Series 2004-13, Class A2, 4.73%
(1 mo. Term SOFR + 0.41%),
09/25/2034(e)
 
186,022
169,652
Series 2004-20, Class 3A1,
3.98%, 01/25/2035(a)
 
18,363
18,227
Structured Asset Sec Mortgage
Pass-Through Ctfs.,
Series 2002-21A, Class B1II,
6.56%, 11/25/2032(a)
 
17
17
UBS Commercial Mortgage Trust,
Series 2017-C5, Class XA, IO,
1.13%, 11/15/2050(d)
 
8,769,448
164,096
Vendee Mortgage Trust,
Series 1999-3, Class IO, 0.00%,
10/15/2029(a)(c)
 
2,115,369
21
Series 2001-3, Class IO, 0.00%,
10/15/2031(a)(c)
 
1,311,307
13
Series 2002-2, Class IO, 0.00%,
01/15/2032(a)(c)
 
3,776,687
467
Series 2002-3, Class IO, 0.16%,
08/15/2032(a)
 
3,903,384
10,019
Series 2003-1, Class IO, 0.02%,
11/15/2032(a)
 
6,821,818
855
Verus Securitization Trust,
Series 2019-INV3, Class A2,
3.95%, 11/25/2059(a)(g)
 
395,648
390,818
Series 2023-INV3, Class A3,
7.73%, 11/25/2068(a)(g)
 
5,598,156
5,726,553
WaMu Mortgage Pass-Through Ctfs. Trust,
Series 2003-AR10, Class A7,
6.51%, 10/25/2033(a)
 
93,960
90,732
Series 2007-HY2, Class 2A1,
4.61%, 11/25/2036(a)
 
27,993
24,228
Wells Fargo Commercial Mortgage
Trust, Series 2017-C42, Class XA,
IO, 0.86%, 12/15/2050(d)
 
8,710,517
164,754
Zaxby’s Funding LLC, Series 2021-
1A, Class A2, 3.24%,
07/30/2051(g)
 
2,798,500
2,562,921
Total Asset-Backed Securities (Cost $28,504,002)
25,789,581
 
Principal
Amount
Value
 
Agency Credit Risk Transfer Notes–2.73%
Fannie Mae Connecticut Avenue
Securities, Series 2023-R02,
Class 1M2, 7.69% (30 Day
Average SOFR + 3.35%),
01/25/2043(e)(g)
 
$5,550,000
$5,825,574
Freddie Mac,
Series 2022-DNA4, Class M1,
STACR®, 7.69% (30 Day Average
SOFR + 3.35%), 05/25/2042(e)(g)
 
4,615,000
4,797,200
Series 2022-HQA3, Class M1,
STACR®, 6.64% (30 Day Average
SOFR + 2.30%), 08/25/2042(e)(g)
 
3,495,005
3,559,983
Total Agency Credit Risk Transfer Notes
(Cost $13,784,282)
14,182,757
Commercial Paper–2.12%(h)
Diversified Banks–0.96%
ING US Funding LLC (Netherlands),
4.70% (SOFR + 0.36%),
10/24/2025(e)(g)
 
5,000,000
5,004,317
Diversified Financial Services–1.16%
JP Morgan Securities LLC, 4.74%
(SOFR + 0.39%),
11/26/2025(e)(g)
 
6,000,000
6,004,690
Total Commercial Paper (Cost $11,000,000)
11,009,007
U.S. Treasury Securities–0.17%
U.S. Treasury Bills–0.17%
4.23% - 4.25%, 05/29/2025
(Cost $865,147)(h)(i)
 
871,000
865,061
 

Shares
 
Money Market Funds–1.26%
Invesco Government & Agency Portfolio,
Institutional Class, 4.29%(j)(k)
(Cost $6,577,979)
6,577,979
6,577,979
TOTAL INVESTMENTS IN SECURITIES–128.91%
(Cost $729,756,874)
669,900,514
OTHER ASSETS LESS LIABILITIES—(28.91)%
(150,255,054
)
NET ASSETS–100.00%
$519,645,460
 
 
Securities Sold Short
 
 
Principal
Amount
Value
U.S. Government Sponsored Agency Mortgage-Backed
Securities Short–(1.90)%
Commercial & Residential Mortgage Finance–(1.90)%
TBA, 2.00%, 04/01/2055(h),
(Total Proceeds $(9,935,500))
$(12,400,000
)
$(9,856,637
)
See accompanying notes which are an integral part of this schedule.
Invesco Quality Income Fund
Investment Abbreviations: 
ARM
– Adjustable Rate Mortgage
Ctfs.
– Certificates
IBOR
– Interbank Offered Rate
IO
– Interest Only
MTA
– Moving Treasury Average
PO
– Principal Only
REMICs
– Real Estate Mortgage Investment Conduits
SOFR
– Secured Overnight Financing Rate
STACR®
– Structured Agency Credit Risk
STRIPS
– Separately Traded Registered Interest and Principal Security
TBA
– To Be Announced
USD
– U.S. Dollar
Notes to Schedule of Investments: 
(a)
Interest rate is redetermined periodically based on the cash flows generated by the pool of assets backing the security, less any applicable fees. The rate shown is
the rate in effect on March 31, 2025.
(b)
Interest only security. Principal amount shown is the notional principal and does not reflect the maturity value of the security.
(c)
Zero coupon bond issued at a discount.
(d)
Interest only security. Principal amount shown is the notional principal and does not reflect the maturity value of the security. Interest rate is redetermined
periodically based on the cash flows generated by the pool of assets backing the security, less any applicable fees. The rate shown is the rate in effect on
March 31, 2025.
(e)
Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on March 31, 2025.
(f)
Security purchased on a forward commitment basis. This security is subject to dollar roll transactions.
(g)
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
resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at
March 31, 2025 was $44,216,086, which represented 8.51% of the Fund’s Net Assets.
(h)
Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.
(i)
All or a portion of the value was pledged as collateral to cover margin requirements for open futures contracts.
(j)
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 three months ended March 31, 2025.
 
 
Value
December 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
Realized
Gain
Value
March 31, 2025
Dividend Income
Investments in Affiliated Money Market Funds:
Invesco Government & Agency Portfolio, Institutional
Class
$5,675,101
$32,974,013
$(32,071,135)
$-
$-
$6,577,979
$54,882
 
(k)
The rate shown is the 7-day SEC standardized yield as of March 31, 2025.
 
Open Futures Contracts(a)
Long Futures Contracts
Number of
Contracts
Expiration
Month
Notional
Value
Value
Unrealized
Appreciation
(Depreciation)
Interest Rate Risk
U.S. Treasury 10 Year Notes
29
June-2025
$3,225,344
$1,136
$1,136
Short Futures Contracts
 
 
 
 
 
Interest Rate Risk
U.S. Treasury 2 Year Notes
62
June-2025
(12,844,657
)
(15,116
)
(15,116
)
U.S. Treasury 5 Year Notes
65
June-2025
(7,030,156
)
(73,764
)
(73,764
)
U.S. Treasury 10 Year Ultra Notes
32
June-2025
(3,652,000
)
(32,320
)
(32,320
)
U.S. Treasury Long Bonds
35
June-2025
(4,104,844
)
(39,321
)
(39,321
)
U.S. Treasury Ultra Bonds
33
June-2025
(4,034,250
)
(27,920
)
(27,920
)
Subtotal—Short Futures Contracts
(188,441
)
(188,441
)
Total Futures Contracts
$(187,305
)
$(187,305
)
 
(a)
Futures contracts collateralized by $161,431 cash held with Goldman Sachs International, the futures commission merchant.
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.
Invesco Quality Income Fund
Notes to Quarterly Schedule of Portfolio Holdings
March 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 Advisers, Inc.’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 March 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
Investments in Securities
U.S. Government Sponsored Agency Mortgage-Backed Securities
$—
$584,458,764
$—
$584,458,764
Certificates of Deposit
—
27,017,365
—
27,017,365
Asset-Backed Securities
—
25,789,581
—
25,789,581
Agency Credit Risk Transfer Notes
—
14,182,757
—
14,182,757
Commercial Paper
—
11,009,007
—
11,009,007
U.S. Treasury Securities
—
865,061
—
865,061
Money Market Funds
6,577,979
—
—
6,577,979
Total Investments in Securities
6,577,979
663,322,535
—
669,900,514
Other Investments - Assets*
Futures Contracts
1,136
—
—
1,136
Other Investments - Liabilities*
Securities Sold Short
—
(9,856,637
)
—
(9,856,637
)
Futures Contracts
(188,441
)
—
—
(188,441
)
 
(188,441
)
(9,856,637
)
—
(10,045,078
)
Total Other Investments
(187,305
)
(9,856,637
)
—
(10,043,942
)
Total Investments
$6,390,674
$653,465,898
$—
$659,856,572
 
*
Futures contracts are valued at unrealized appreciation (depreciation). Securities sold short are shown at value.
Invesco Quality Income Fund