NPORT-EX 2 edgar.htm EDGAR HTML
Schedule of Investments(a)  
November 30, 2024
(Unaudited)
 
 
Principal
Amount
Value
U.S. Dollar Denominated Bonds & Notes–86.47%
Advertising–0.18%
Clear Channel Outdoor Holdings, Inc.,
7.75%, 04/15/2028(b)
 
$1,711,000
$1,577,410
7.50%, 06/01/2029(b)
 
602,000
533,451
 
 
2,110,861
Aerospace & Defense–1.69%
TransDigm, Inc.,
5.50%, 11/15/2027
 
2,902,000
2,879,812
6.75%, 08/15/2028(b)
 
1,359,000
1,387,823
7.13%, 12/01/2031(b)
 
12,510,000
13,018,995
6.63%, 03/01/2032(b)
 
2,971,000
3,046,876
 
 
20,333,506
Alternative Carriers–0.33%
CommScope LLC, 4.75%,
09/01/2029(b)
 
758,000
628,192
Lumen Technologies, Inc.,
4.50%, 01/15/2029(b)
 
316,000
265,699
4.13%, 04/15/2029(b)
 
321,000
291,709
5.38%, 06/15/2029(b)
 
177,000
150,677
4.13%, 04/15/2030(b)
 
320,000
283,976
Series P, 7.60%, 09/15/2039
 
313,000
253,394
Series U, 7.65%, 03/15/2042
 
278,000
226,424
Zayo Group Holdings, Inc.,
4.00%, 03/01/2027(b)
 
1,244,000
1,174,176
6.13%, 03/01/2028(b)
 
741,000
684,247
 
 
3,958,494
Apparel Retail–0.98%
Gap, Inc. (The), 3.88%,
10/01/2031(b)
 
6,892,000
6,067,957
Victoria’s Secret & Co., 4.63%,
07/15/2029(b)
 
6,287,000
5,691,542
 
 
11,759,499
Application Software–1.15%
Cloud Software Group, Inc.,
6.50%, 03/31/2029(b)
 
3,261,000
3,206,301
9.00%, 09/30/2029(b)
 
3,378,000
3,423,137
8.25%, 06/30/2032(b)
 
1,667,000
1,738,883
SS&C Technologies, Inc.,
5.50%, 09/30/2027(b)
 
1,954,000
1,949,468
6.50%, 06/01/2032(b)
 
3,364,000
3,444,971
 
 
13,762,760
Automobile Manufacturers–1.47%
Allison Transmission, Inc., 3.75%,
01/30/2031(b)
 
19,617,000
17,645,896
Automotive Parts & Equipment–3.12%
Cougar JV Subsidiary LLC, 8.00%,
05/15/2032(b)
 
7,705,000
8,091,305
NESCO Holdings II, Inc., 5.50%,
04/15/2029(b)
 
12,775,000
12,163,029
PHINIA, Inc.,
6.75%, 04/15/2029(b)
 
8,777,000
9,020,026
6.63%, 10/15/2032(b)
 
2,867,000
2,890,494
 
Principal
Amount
Value
Automotive Parts & Equipment–(continued)
ZF North America Capital, Inc. (Germany),
6.88%, 04/14/2028(b)
 
$3,556,000
$3,574,701
7.13%, 04/14/2030(b)
 
1,741,000
1,730,570
 
 
37,470,125
Automotive Retail–3.36%
Carvana Co.,
12.00% PIK Rate, 9.00% Cash
Rate, 12/01/2028(b)(c)
 
3,308,320
3,533,607
13.00% PIK Rate, 11.00% Cash
Rate, 06/01/2030(b)(c)
 
1,926,095
2,120,683
14.00% PIK Rate, 9.00% Cash
Rate, 06/01/2031(b)(c)
 
2,552,511
3,056,312
Group 1 Automotive, Inc., 6.38%,
01/15/2030(b)
 
5,428,000
5,502,819
LCM Investments Holdings II LLC,
8.25%, 08/01/2031(b)
 
8,418,000
8,810,397
Lithia Motors, Inc.,
3.88%, 06/01/2029(b)
 
5,296,000
4,912,172
4.38%, 01/15/2031(b)
 
7,402,000
6,806,889
Velocity Vehicle Group LLC, 8.00%,
06/01/2029(b)
 
5,320,000
5,558,495
 
 
40,301,374
Broadcasting–0.63%
AMC Networks, Inc., 10.25%,
01/15/2029(b)
 
526,000
559,742
Gray Television, Inc.,
7.00%, 05/15/2027(b)
 
446,000
437,497
10.50%, 07/15/2029(b)
 
1,023,000
1,042,015
4.75%, 10/15/2030(b)
 
836,000
494,542
5.38%, 11/15/2031(b)
 
972,000
579,762
Paramount Global, 6.38%,
03/30/2062(d)
 
602,000
581,251
Sinclair Television Group, Inc.,
4.13%, 12/01/2030(b)
 
718,000
560,553
Univision Communications, Inc.,
6.63%, 06/01/2027(b)
 
1,056,000
1,053,094
8.00%, 08/15/2028(b)
 
1,121,000
1,144,923
4.50%, 05/01/2029(b)
 
590,000
530,036
7.38%, 06/30/2030(b)
 
548,000
528,809
 
 
7,512,224
Broadline Retail–0.62%
Macy’s Retail Holdings LLC,
6.70%, 07/15/2034(b)
 
2,886,000
2,495,964
4.50%, 12/15/2034
 
3,876,000
3,282,928
Rakuten Group, Inc. (Japan),
11.25%, 02/15/2027(b)
 
1,532,000
1,673,154
 
 
7,452,046
Building Products–0.09%
Cornerstone Building Brands, Inc.,
9.50%, 08/15/2029(b)
 
557,000
556,625
Park River Holdings, Inc., 6.75%,
08/01/2029(b)
 
649,000
581,743
 
 
1,138,368
See accompanying notes which are an integral part of this schedule.
Invesco High Yield Fund
 
Principal
Amount
Value
Cable & Satellite–3.45%
Altice Financing S.A. (Luxembourg),
5.00%, 01/15/2028(b)
 
$800,000
$639,323
5.75%, 08/15/2029(b)
 
1,415,000
1,073,423
CCO Holdings LLC/CCO Holdings Capital
Corp.,
5.38%, 06/01/2029(b)
 
1,928,000
1,879,009
4.75%, 03/01/2030(b)
 
3,365,000
3,128,874
4.75%, 02/01/2032(b)
 
3,403,000
3,064,952
4.50%, 05/01/2032
 
4,333,000
3,831,777
4.25%, 01/15/2034(b)
 
3,730,000
3,113,088
CSC Holdings LLC,
11.75%, 01/31/2029(b)
 
2,628,000
2,608,264
6.50%, 02/01/2029(b)
 
1,538,000
1,322,171
5.75%, 01/15/2030(b)
 
2,346,000
1,412,033
4.13%, 12/01/2030(b)
 
1,000,000
755,881
4.63%, 12/01/2030(b)
 
2,146,000
1,200,509
4.50%, 11/15/2031(b)
 
3,347,000
2,526,865
DISH DBS Corp.,
7.75%, 07/01/2026
 
1,402,000
1,207,059
7.38%, 07/01/2028
 
1,084,000
823,142
5.75%, 12/01/2028(b)
 
2,259,000
1,973,082
5.13%, 06/01/2029
 
1,264,000
838,294
DISH Network Corp., 11.75%,
11/15/2027(b)
 
3,155,000
3,354,807
EchoStar Corp.,
10.75%, 11/30/2029
 
3,291,000
3,562,839
6.75% PIK Rate, 0.00% Cash
Rate, 11/30/2030(c)
 
2,780,000
2,512,747
Scripps Escrow, Inc., 5.88%,
07/15/2027(b)
 
683,000
521,815
 
 
41,349,954
Casinos & Gaming–2.56%
Codere Finance 2 (Luxembourg)
S.A. (Spain), 11.63% PIK Rate,
2.00% Cash Rate,
11/30/2027(b)(c)
 
568,775
11,375
Melco Resorts Finance Ltd. (Hong Kong),
5.38%, 12/04/2029(b)
 
9,210,000
8,435,588
7.63%, 04/17/2032(b)
 
2,017,000
2,039,172
Mohegan Tribal Gaming Authority,
8.00%, 02/01/2026(b)
 
511,000
508,225
Premier Entertainment
Sub LLC/Premier Entertainment
Finance Corp., 5.63%,
09/01/2029(b)
 
663,000
487,751
Studio City Finance Ltd. (Macau),
5.00%, 01/15/2029(b)
 
11,671,000
10,590,780
Viking Cruises Ltd.,
5.88%, 09/15/2027(b)
 
3,300,000
3,280,032
9.13%, 07/15/2031(b)
 
5,014,000
5,431,817
 
 
30,784,740
Commercial & Residential Mortgage Finance–0.73%
Nationstar Mortgage Holdings, Inc.,
7.13%, 02/01/2032(b)
 
8,528,000
8,806,141
Commodity Chemicals–0.84%
Mativ Holdings, Inc., 8.00%,
10/01/2029(b)
 
9,985,000
10,079,887
 
Principal
Amount
Value
Construction Machinery & Heavy Transportation Equipment–
0.73%
Northriver Midstream Finance L.P.
(Canada), 6.75%,
07/15/2032(b)
 
$8,587,000
$8,806,198
Consumer Finance–1.98%
FirstCash, Inc., 6.88%,
03/01/2032(b)
 
8,728,000
8,909,870
Navient Corp.,
5.00%, 03/15/2027
 
3,550,000
3,505,230
9.38%, 07/25/2030
 
2,086,000
2,299,669
OneMain Finance Corp.,
6.63%, 05/15/2029
 
3,416,000
3,489,610
4.00%, 09/15/2030
 
3,093,000
2,782,327
7.13%, 11/15/2031
 
2,655,000
2,736,834
 
 
23,723,540
Copper–0.50%
First Quantum Minerals Ltd.
(Zambia), 8.63%,
06/01/2031(b)
 
5,783,000
5,956,296
Diversified Banks–0.53%
Citigroup, Inc., Series CC,
7.13%(d)(e)
 
5,668,000
5,845,352
Freedom Mortgage Corp., 12.00%,
10/01/2028(b)
 
459,000
499,334
 
 
6,344,686
Diversified Chemicals–0.68%
Celanese US Holdings LLC,
6.60%, 11/15/2028
 
1,855,000
1,921,493
6.95%, 11/15/2033
 
2,172,000
2,324,290
Cerdia Finanz GmbH (Germany),
9.38%, 10/03/2031(b)
 
2,797,000
2,927,306
SCIH Salt Holdings, Inc., 6.63%,
05/01/2029(b)
 
1,052,000
1,027,826
 
 
8,200,915
Diversified Financial Services–3.91%
AerCap Ireland Capital DAC/AerCap
Global Aviation Trust (Ireland),
6.95%, 03/10/2055(d)
 
8,168,000
8,472,714
Freedom Mortgage Holdings LLC,
9.25%, 02/01/2029(b)
 
606,000
628,525
9.13%, 05/15/2031(b)
 
1,115,000
1,157,215
GGAM Finance Ltd. (Ireland),
6.88%, 04/15/2029(b)
 
5,274,000
5,395,603
Jane Street Group/JSG Finance, Inc.,
7.13%, 04/30/2031(b)
 
5,845,000
6,087,315
6.13%, 11/01/2032(b)
 
8,501,000
8,542,436
Jefferson Capital Holdings LLC,
6.00%, 08/15/2026(b)
 
2,825,000
2,817,174
9.50%, 02/15/2029(b)
 
2,759,000
2,948,110
Provident Funding Associates
L.P./PFG Finance Corp., 9.75%,
09/15/2029(b)
 
8,553,000
8,908,587
Scientific Games Holdings
L.P./Scientific Games US FinCo,
Inc., 6.63%, 03/01/2030(b)
 
1,325,000
1,290,606
See accompanying notes which are an integral part of this schedule.
Invesco High Yield Fund
 
Principal
Amount
Value
Diversified Financial Services–(continued)
VistaJet Malta Finance PLC/Vista
Management Holding, Inc.
(Switzerland), 6.38%,
02/01/2030(b)
 
$769,000
$679,030
 
 
46,927,315
Diversified Metals & Mining–0.51%
Hudbay Minerals, Inc. (Canada),
6.13%, 04/01/2029(b)
 
5,502,000
5,556,069
Vibrantz Technologies, Inc.,
9.00%, 02/15/2030(b)
 
544,000
515,966
 
 
6,072,035
Diversified REITs–0.47%
Uniti Group L.P./Uniti Fiber
Holdings, Inc./CSL Capital LLC,
6.00%, 01/15/2030(b)
 
1,290,000
1,113,630
Uniti Group L.P./Uniti Group Finance,
Inc./CSL Capital LLC,
10.50%, 02/15/2028(b)
 
3,173,000
3,373,641
6.50%, 02/15/2029(b)
 
1,268,000
1,113,346
 
 
5,600,617
Diversified Support Services–0.54%
Neptune Bidco US, Inc., 9.29%,
04/15/2029(b)
 
1,224,000
1,136,852
Ritchie Bros. Holdings, Inc.
(Canada), 7.75%,
03/15/2031(b)
 
5,066,000
5,364,377
 
 
6,501,229
Electric Utilities–3.66%
Brookfield Infrastructure Finance
ULC (Canada), 6.75%,
03/15/2055(d)
 
5,975,000
6,048,737
California Buyer Ltd./Atlantica
Sustainable Infrastructure PLC
(Spain), 6.38%, 02/15/2032(b)
 
5,585,000
5,594,939
Duke Energy Corp., 6.45%,
09/01/2054(d)
 
5,600,000
5,699,210
Entergy Corp., 7.13%,
12/01/2054(d)
 
5,615,000
5,773,001
Vistra Operations Co. LLC,
5.00%, 07/31/2027(b)
 
3,000,000
2,974,573
7.75%, 10/15/2031(b)
 
12,631,000
13,428,433
6.88%, 04/15/2032(b)
 
4,210,000
4,371,531
 
 
43,890,424
Electrical Components & Equipment–0.93%
EnerSys, 6.63%, 01/15/2032(b)
 
5,167,000
5,289,856
Sensata Technologies, Inc.,
3.75%, 02/15/2031(b)
 
2,810,000
2,518,656
6.63%, 07/15/2032(b)
 
3,300,000
3,369,659
 
 
11,178,171
Electronic Manufacturing Services–0.90%
EMRLD Borrower L.P./Emerald
Co-Issuer, Inc., 6.63%,
12/15/2030(b)
 
10,665,000
10,796,190
Environmental & Facilities Services–0.74%
GFL Environmental, Inc., 3.50%,
09/01/2028(b)
 
4,526,000
4,277,971
 
Principal
Amount
Value
Environmental & Facilities Services–(continued)
Wrangler Holdco Corp. (Canada),
6.63%, 04/01/2032(b)
 
$4,489,000
$4,628,645
 
 
8,906,616
Fertilizers & Agricultural Chemicals–0.09%
Consolidated Energy Finance S.A.
(Switzerland),
6.50%, 05/15/2026(b)
 
700,000
691,264
12.00%, 02/15/2031(b)
 
350,000
351,665
 
 
1,042,929
Gold–0.44%
New Gold, Inc. (Canada), 7.50%,
07/15/2027(b)
 
5,198,000
5,265,330
Health Care Facilities–0.99%
LifePoint Health, Inc., 5.38%,
01/15/2029(b)
 
1,229,000
1,110,238
Select Medical Corp., 6.25%,
12/01/2032(b)
 
5,590,000
5,604,986
Tenet Healthcare Corp., 6.75%,
05/15/2031
 
5,051,000
5,179,769
 
 
11,894,993
Health Care REITs–0.90%
Diversified Healthcare Trust,
0.00%, 01/15/2026(b)(f)
 
9,494,000
8,927,967
MPT Operating Partnership L.P./MPT
Finance Corp., 3.50%,
03/15/2031
 
2,856,000
1,866,697
 
 
10,794,664
Health Care Services–1.88%
Catalent Pharma Solutions, Inc.,
3.50%, 04/01/2030(b)
 
1,637,000
1,613,042
Community Health Systems, Inc.,
8.00%, 12/15/2027(b)
 
1,146,000
1,150,755
6.88%, 04/15/2029(b)
 
3,700,000
2,988,838
5.25%, 05/15/2030(b)
 
4,517,000
3,858,782
4.75%, 02/15/2031(b)
 
4,266,000
3,467,225
Concentra Escrow Issuer Corp.,
6.88%, 07/15/2032(b)
 
4,617,000
4,762,495
DaVita, Inc., 6.88%,
09/01/2032(b)
 
4,630,000
4,785,396
 
 
22,626,533
Health Care Supplies–0.15%
Medline Borrower L.P., 5.25%,
10/01/2029(b)
 
1,802,000
1,760,743
Health Care Technology–0.13%
athenahealth Group, Inc., 6.50%,
02/15/2030(b)
 
1,581,000
1,514,470
Home Improvement Retail–0.05%
LBM Acquisition LLC, 6.25%,
01/15/2029(b)
 
597,000
559,158
Hotel & Resort REITs–3.17%
RHP Hotel Properties L.P./RHP
Finance Corp., 6.50%,
04/01/2032(b)
 
8,853,000
9,006,122
RLJ Lodging Trust L.P.,
3.75%, 07/01/2026(b)
 
2,919,000
2,842,883
4.00%, 09/15/2029(b)
 
6,030,000
5,509,667
See accompanying notes which are an integral part of this schedule.
Invesco High Yield Fund
 
Principal
Amount
Value
Hotel & Resort REITs–(continued)
Service Properties Trust,
4.75%, 10/01/2026
 
$3,419,000
$3,295,553
5.50%, 12/15/2027
 
9,126,000
8,739,905
4.95%, 10/01/2029
 
1,766,000
1,441,815
4.38%, 02/15/2030
 
9,300,000
7,263,452
 
 
38,099,397
Hotels, Resorts & Cruise Lines–0.13%
Carnival Corp., 6.00%,
05/01/2029(b)
 
1,606,000
1,612,974
Housewares & Specialties–0.46%
Newell Brands, Inc.,
6.38%, 05/15/2030
 
2,690,000
2,746,776
6.63%, 05/15/2032
 
2,690,000
2,743,947
 
 
5,490,723
Independent Power Producers & Energy Traders–0.71%
Vistra Corp., Series C,
8.88%(b)(d)(e)
 
7,890,000
8,479,659
Industrial Machinery & Supplies & Components–1.58%
Enpro, Inc., 5.75%, 10/15/2026
 
5,328,000
5,340,973
ESAB Corp., 6.25%,
04/15/2029(b)
 
5,231,000
5,328,155
Roller Bearing Co. of America, Inc.,
4.38%, 10/15/2029(b)
 
8,746,000
8,252,142
 
 
18,921,270
Insurance Brokers–1.43%
Alliant Holdings Intermediate LLC/Alliant
Holdings Co-Issuer,
6.75%, 10/15/2027(b)
 
3,371,000
3,368,675
7.00%, 01/15/2031(b)
 
5,341,000
5,428,521
Ardonagh Group Finance Ltd.
(United Kingdom), 8.88%,
02/15/2032(b)
 
550,000
566,862
Jones Deslauriers Insurance
Management, Inc. (Canada),
10.50%, 12/15/2030(b)
 
1,842,000
2,001,541
USI, Inc., 7.50%, 01/15/2032(b)
 
5,724,000
5,831,777
 
 
17,197,376
Integrated Telecommunication Services–4.39%
Altice France Holding S.A.
(Luxembourg), 6.00%,
02/15/2028(b)
 
1,445,000
390,899
Altice France S.A. (France),
5.50%, 01/15/2028(b)
 
5,092,000
3,953,954
5.50%, 10/15/2029(b)
 
2,451,000
1,886,995
Consolidated Communications, Inc.,
6.50%, 10/01/2028(b)
 
602,000
587,390
Embarq Corp., 8.00%,
06/01/2036
 
1,121,000
555,384
Iliad Holding S.A.S. (France),
7.00%, 10/15/2028(b)
 
3,069,000
3,119,267
8.50%, 04/15/2031(b)
 
5,639,000
6,008,521
7.00%, 04/15/2032(b)
 
5,730,000
5,798,963
 
Principal
Amount
Value
Integrated Telecommunication Services–(continued)
Level 3 Financing, Inc.,
3.63%, 01/15/2029(b)
 
$316,000
$253,590
10.50%, 04/15/2029(b)
 
545,000
612,448
4.88%, 06/15/2029(b)
 
287,000
252,175
3.75%, 07/15/2029(b)
 
538,000
423,220
11.00%, 11/15/2029(b)
 
1,395,000
1,586,850
4.50%, 04/01/2030(b)
 
1,836,000
1,544,000
10.50%, 05/15/2030(b)
 
990,000
1,091,473
10.75%, 12/15/2030(b)
 
543,000
613,590
4.00%, 04/15/2031(b)
 
492,000
392,370
Sable International Finance Ltd.
(Panama), 7.13%,
10/15/2032(b)
 
364,000
364,954
Telecom Italia Capital S.A. (Italy),
7.72%, 06/04/2038
 
8,272,000
8,782,027
Windstream Services LLC/Windstream
Escrow Finance Corp.,
7.75%, 08/15/2028(b)
 
2,778,000
2,802,157
8.25%, 10/01/2031(b)
 
2,825,000
2,951,673
Zegona Finance PLC (United
Kingdom), 8.63%,
07/15/2029(b)
 
8,182,000
8,713,830
 
 
52,685,730
Internet Services & Infrastructure–0.14%
Arches Buyer, Inc.,
4.25%, 06/01/2028(b)
 
632,000
590,527
6.13%, 12/01/2028(b)
 
642,000
581,904
Cablevision Lightpath LLC, 5.63%,
09/15/2028(b)
 
500,000
465,571
 
 
1,638,002
Investment Banking & Brokerage–1.45%
Goldman Sachs Group, Inc. (The),
Series X, 7.50%(d)(e)
 
5,184,000
5,437,531
Icahn Enterprises L.P./Icahn Enterprises
Finance Corp.,
10.00%, 11/15/2029(b)
 
6,210,000
6,376,647
9.00%, 06/15/2030
 
5,628,000
5,590,521
 
 
17,404,699
Leisure Facilities–0.91%
NCL Corp. Ltd.,
8.13%, 01/15/2029(b)
 
2,548,000
2,705,968
6.25%, 03/01/2030(b)
 
2,775,000
2,766,795
Six Flags Entertainment Corp./Six
Flags Theme Parks, Inc., 6.63%,
05/01/2032(b)
 
5,295,000
5,430,279
 
 
10,903,042
Marine Transportation–0.65%
Stena International S.A. (Sweden),
7.25%, 01/15/2031(b)
 
4,848,000
5,015,280
7.63%, 02/15/2031(b)
 
2,723,000
2,843,707
 
 
7,858,987
Metal, Glass & Plastic Containers–0.74%
Clydesdale Acquisition Holdings,
Inc., 6.63%, 04/15/2029(b)
 
5,915,000
5,950,035
Iris Holding, Inc., 10.00%,
12/15/2028(b)
 
3,234,000
2,959,171
 
 
8,909,206
See accompanying notes which are an integral part of this schedule.
Invesco High Yield Fund
 
Principal
Amount
Value
Mortgage REITs–0.09%
Blackstone Mortgage Trust, Inc.,
7.75%, 12/01/2029(b)
 
$1,093,000
$1,111,831
Movies & Entertainment–0.52%
AMC Entertainment Holdings, Inc.,
7.50%, 02/15/2029(b)
 
711,000
634,961
Lions Gate Capital Holdings 1, Inc.,
5.50%, 04/15/2029(b)
 
4,865,000
4,304,178
Lions Gate Capital Holdings LLC,
5.50%, 04/15/2029(b)
 
1,713,000
1,319,871
 
 
6,259,010
Multi-line Insurance–0.68%
Acrisure LLC/Acrisure Finance, Inc.,
8.50%, 06/15/2029(b)
 
2,721,000
2,834,765
7.50%, 11/06/2030(b)
 
5,279,000
5,390,593
 
 
8,225,358
Multi-Utilities–0.47%
CenterPoint Energy, Inc., 6.70%,
05/15/2055(d)
 
5,655,000
5,673,815
Office REITs–0.47%
Office Properties Income Trust,
9.00%, 03/31/2029(b)
 
5,682,000
5,610,946
Oil & Gas Drilling–2.73%
Delek Logistics Partners L.P./Delek
Logistics Finance Corp., 7.13%,
06/01/2028(b)
 
5,756,000
5,790,031
Summit Midstream Holdings LLC,
8.63%, 10/31/2029(b)
 
5,283,000
5,532,033
Transocean, Inc.,
8.25%, 05/15/2029(b)
 
2,793,000
2,824,293
8.75%, 02/15/2030(b)
 
5,013,300
5,226,355
8.50%, 05/15/2031(b)
 
7,889,000
8,008,613
Valaris Ltd., 8.38%,
04/30/2030(b)
 
5,250,000
5,350,646
 
 
32,731,971
Oil & Gas Exploration & Production–1.42%
Aethon United BR L.P./Aethon
United Finance Corp., 7.50%,
10/01/2029(b)
 
8,497,000
8,818,493
Hilcorp Energy I L.P./Hilcorp Finance Co.,
6.00%, 02/01/2031(b)
 
1,857,000
1,768,363
6.25%, 04/15/2032(b)
 
2,348,000
2,234,868
7.25%, 02/15/2035(b)
 
4,286,000
4,198,703
 
 
17,020,427
Oil & Gas Refining & Marketing–0.18%
CVR Energy, Inc., 8.50%,
01/15/2029(b)
 
2,210,000
2,173,543
Oil & Gas Storage & Transportation–6.08%
Genesis Energy L.P./Genesis Energy
Finance Corp.,
7.75%, 02/01/2028
 
5,563,000
5,634,668
8.88%, 04/15/2030
 
4,437,000
4,627,354
7.88%, 05/15/2032
 
6,897,000
6,956,980
Howard Midstream Energy
Partners LLC, 7.38%,
07/15/2032(b)
 
5,282,000
5,447,319
 
Principal
Amount
Value
Oil & Gas Storage & Transportation–(continued)
Martin Midstream Partners
L.P./Martin Midstream Finance
Corp., 11.50%, 02/15/2028(b)
 
$4,864,000
$5,297,058
New Fortress Energy, Inc., 6.50%,
09/30/2026(b)
 
1,832,000
1,710,554
NGL Energy Operating LLC/NGL Energy
Finance Corp.,
8.13%, 02/15/2029(b)
 
3,688,000
3,780,415
8.38%, 02/15/2032(b)
 
4,941,000
5,061,130
Prairie Acquiror L.P., 9.00%,
08/01/2029(b)
 
5,349,000
5,551,839
Tallgrass Energy Partners
L.P./Tallgrass Energy Finance
Corp., 7.38%, 02/15/2029(b)
 
5,480,000
5,581,386
Venture Global LNG, Inc.,
8.13%, 06/01/2028(b)
 
1,782,000
1,863,619
7.00%, 01/15/2030(b)
 
2,349,000
2,404,016
8.38%, 06/01/2031(b)
 
1,300,000
1,371,043
9.88%, 02/01/2032(b)
 
7,938,000
8,832,208
9.00%(b)(d)(e)
 
8,539,000
8,854,508
 
 
72,974,097
Other Specialized REITs–0.45%
Iron Mountain, Inc.,
4.50%, 02/15/2031(b)
 
2,946,000
2,746,380
5.63%, 07/15/2032(b)
 
2,777,000
2,716,820
 
 
5,463,200
Other Specialty Retail–1.71%
Bath & Body Works, Inc.,
6.88%, 11/01/2035
 
3,161,000
3,308,415
6.75%, 07/01/2036
 
5,443,000
5,652,373
Michaels Cos., Inc. (The), 7.88%,
05/01/2029(b)
 
2,087,000
1,127,587
PetSmart, Inc./PetSmart Finance
Corp., 7.75%, 02/15/2029(b)
 
8,884,000
8,745,564
Staples, Inc., 10.75%,
09/01/2029(b)
 
1,668,000
1,646,618
 
 
20,480,557
Packaged Foods & Meats–0.04%
TKC Holdings, Inc., 10.50%,
05/15/2029(b)
 
505,000
518,660
Paper & Plastic Packaging Products & Materials–0.87%
LABL, Inc.,
5.88%, 11/01/2028(b)
 
2,193,000
1,963,172
8.63%, 10/01/2031(b)
 
3,039,000
2,867,960
Owens-Brockway Glass Container,
Inc., 7.25%, 05/15/2031(b)(g)
 
5,636,000
5,621,896
 
 
10,453,028
Passenger Airlines–1.57%
American Airlines, Inc./AAdvantage
Loyalty IP Ltd., 5.75%,
04/20/2029(b)
 
17,701,000
17,687,439
JetBlue Airways Corp./JetBlue
Loyalty L.P., 9.88%,
09/20/2031(b)
 
1,100,000
1,158,216
 
 
18,845,655
Passenger Ground Transportation–0.05%
Hertz Corp. (The), 12.63%,
07/15/2029(b)
 
513,000
557,300
See accompanying notes which are an integral part of this schedule.
Invesco High Yield Fund
 
Principal
Amount
Value
Pharmaceuticals–0.91%
Bausch Health Americas, Inc.,
9.25%, 04/01/2026(b)
 
$1,830,000
$1,778,055
Bausch Health Cos., Inc.,
5.50%, 11/01/2025(b)
 
2,893,000
2,832,117
5.75%, 08/15/2027(b)
 
1,544,000
1,376,984
4.88%, 06/01/2028(b)
 
1,446,000
1,197,805
6.25%, 02/15/2029(b)
 
1,058,000
680,237
5.25%, 01/30/2030(b)
 
2,089,000
1,171,490
Endo Finance Holdings, Inc.,
8.50%, 04/15/2031(b)
 
1,200,000
1,278,811
HLF Financing S.a.r.l. LLC/Herbalife
International, Inc., 12.25%,
04/15/2029(b)
 
605,000
638,464
Par Pharmaceutical, Inc., 7.50%,
04/01/2027(h)
 
3,499,000
0
 
 
10,953,963
Rail Transportation–0.04%
Brightline East LLC, 11.00%,
01/31/2030(b)
 
500,000
468,806
Real Estate Development–0.10%
Greystar Real Estate Partners LLC,
7.75%, 09/01/2030(b)
 
1,103,000
1,168,514
Real Estate Services–0.05%
Anywhere Real Estate
Group LLC/Anywhere Co-Issuer
Corp., 7.00%, 04/15/2030(b)
 
649,000
605,357
Reinsurance–0.47%
Global Atlantic (Fin) Co., 4.70%,
10/15/2051(b)(d)
 
5,815,000
5,594,564
Research & Consulting Services–0.72%
Dun & Bradstreet Corp. (The),
5.00%, 12/15/2029(b)(g)
 
8,901,000
8,642,508
Security & Alarm Services–0.19%
Allied Universal Holdco LLC/Allied
Universal Finance Corp., 6.00%,
06/01/2029(b)
 
2,482,000
2,280,105
Single-Family Residential REITs–0.44%
Ashton Woods USA LLC/Ashton
Woods Finance Co., 6.63%,
01/15/2028(b)
 
5,182,000
5,235,882
Specialized Consumer Services–1.46%
Carriage Services, Inc., 4.25%,
05/15/2029(b)
 
19,010,000
17,576,656
Specialized Finance–0.24%
CD&R Smokey Buyer, Inc./Radio
Systems Corp., 9.50%,
10/15/2029(b)
 
2,834,000
2,860,217
Steel–0.49%
Cleveland-Cliffs, Inc.,
7.00%, 03/15/2032(b)
 
4,451,000
4,479,184
6.25%, 10/01/2040
 
1,517,000
1,364,905
 
 
5,844,089
Systems Software–0.09%
McAfee Corp., 7.38%,
02/15/2030(b)
 
1,124,000
1,093,906
 
Principal
Amount
Value
Technology Hardware, Storage & Peripherals–0.48%
Seagate HDD Cayman, 9.63%,
12/01/2032
 
$4,591,000
$5,248,647
Xerox Holdings Corp., 5.50%,
08/15/2028(b)
 
650,000
538,403
 
 
5,787,050
Tires & Rubber–0.09%
FXI Holdings, Inc., 12.25%,
11/15/2026(b)
 
1,056,000
1,045,514
Trading Companies & Distributors–4.51%
Air Lease Corp.,
Series B, 4.65%(d)(e)
 
7,400,000
7,243,039
Series C, 4.13%(d)(e)
 
2,996,000
2,830,846
Series D, 6.00%(d)(e)
 
572,000
567,332
Aircastle Ltd., 5.25%(b)(d)(e)
 
11,768,000
11,577,046
BlueLinx Holdings, Inc., 6.00%,
11/15/2029(b)
 
5,758,000
5,654,547
Fortress Transportation and
Infrastructure Investors LLC,
5.50%, 05/01/2028(b)
 
2,523,000
2,494,596
7.88%, 12/01/2030(b)
 
10,160,000
10,797,631
7.00%, 06/15/2032(b)
 
6,740,000
6,967,677
5.88%, 04/15/2033(b)
 
6,038,000
5,969,725
 
 
54,102,439
Wireless Telecommunication Services–1.19%
VMED O2 UK Financing I PLC (United
Kingdom), 4.75%,
07/15/2031(b)
 
6,271,000
5,530,903
Vodafone Group PLC (United
Kingdom), 4.13%,
06/04/2081(d)
 
9,691,000
8,707,117
 
 
14,238,020
Total U.S. Dollar Denominated Bonds & Notes
(Cost $1,022,523,572)
1,037,626,980
Variable Rate Senior Loan Interests–4.94%(i)(j)
Advertising–0.31%
Clear Channel Outdoor Holdings,
Inc., Term Loan B, 8.69% (1
mo. Term SOFR + 4.00%),
08/23/2028
 
3,735,863
3,749,891
Cable & Satellite–0.18%
CSC Holdings LLC, Term Loan,
7.17% (6 mo. USD LIBOR +
2.50%), 04/15/2027
 
2,387,467
2,205,853
Casinos & Gaming–0.39%
Scientific Games Holdings L.P.,
Term Loan B, 7.59% (3 mo.
Term SOFR + 3.00%),
04/04/2029
 
4,636,195
4,657,939
Commodity Chemicals–0.13%
Mativ Holdings, Inc., Term Loan B,
8.44% (1 mo. Term SOFR +
3.86%), 04/20/2028
 
1,544,394
1,548,255
Health Care Services–0.11%
Concentra Health Services, Term
Loan B, 6.82% (1 mo. Term
SOFR + 2.25%), 07/26/2031(h)
 
1,350,000
1,363,500
See accompanying notes which are an integral part of this schedule.
Invesco High Yield Fund
 
Principal
Amount
Value
Health Care Supplies–0.64%
Mozart Debt Merger Sub, Inc.
(Medline Industries), Term Loan
B, 6.86% (3 mo. Term SOFR +
2.25%), 10/23/2028
 
$7,649,511
$7,704,014
Hotels, Resorts & Cruise Lines–0.73%
Carnival Corp., Term Loan B,
7.32% (1 mo. Term SOFR +
2.75%), 10/18/2028
 
4,075,200
4,108,311
IRB Holding Corp., Term Loan B,
7.42% (1 mo. Term SOFR +
2.75%), 12/15/2027
 
4,624,730
4,650,953
 
 
8,759,264
Integrated Telecommunication Services–0.06%
CommScope, Inc., Term Loan,
7.94% (1 mo. Term SOFR +
3.25%), 04/06/2026
(Acquired 08/28/2024;
Cost $739,021)(k)
 
767,979
754,539
Life Sciences Tools & Services–0.44%
Syneos Health, Inc., Term Loan,
8.35% (3 mo. Term SOFR +
3.75%), 09/27/2030
 
5,311,310
5,222,770
Oil & Gas Exploration & Production–0.40%
Prairie ECI Acquiror L.P., Term Loan
B-2, 9.32% (1 mo. Term SOFR +
4.75%), 08/01/2029
 
4,721,275
4,763,578
Pharmaceuticals–0.38%
Endo Finance Holdings, Inc., Term
Loan B, 8.57% (3 mo. Term
SOFR + 4.50%), 04/23/2031
 
4,525,000
4,545,498
Real Estate Development–0.30%
Greystar Real Estate Partners LLC,
Term Loan B, 7.34% (1 mo.
Term SOFR + 2.75%),
08/21/2030
 
3,608,070
3,635,130
Real Estate Services–0.44%
Cushman & Wakefield U.S. Borrower
LLC, Term Loan, 7.82% (1 mo.
Term SOFR + 3.25%),
01/31/2030
 
5,313,683
5,323,646
Systems Software–0.43%
Camelot US Acquisition LLC, Term
Loan, 7.32% (1 mo. Term SOFR
+ 2.75%), 01/31/2031
 
5,136,622
5,112,557
Total Variable Rate Senior Loan Interests
(Cost $58,845,179)
59,346,434
 

Shares
 
Exchange-Traded Funds–3.18%
BondBloxx CCC-Rated USD High Yield
Corporate Bond ETF(g)
60,000
2,392,800
Invesco Senior Loan ETF(g)(l)
1,692,000
35,718,120
Total Exchange-Traded Funds
(Cost $38,042,976)
38,110,920
 
Principal
Amount
Value
Non-U.S. Dollar Denominated Bonds & Notes–2.62%(m)
Broadline Retail–0.00%
Americanas S.A. (Brazil), 8.35%,
07/26/2029(h)
BRL
8,205
$0
Casinos & Gaming–0.05%
Codere Finance 2 (Luxembourg)
S.A. (Spain), 3.00% PIK Rate,
8.00% Cash Rate,
09/30/2026(b)(c)
EUR
1,221,035
583,874
Diversified Banks–1.28%
Banco Bilbao Vizcaya Argentaria
S.A. (Spain), 6.00%(b)(d)(e)
EUR
4,800,000
5,131,086
Cooperatieve Rabobank U.A.
(Netherlands), 4.38%(b)(d)(e)
EUR
5,000,000
5,181,766
Lloyds Banking Group PLC (United
Kingdom), 4.95%(b)(d)(e)
EUR
4,788,000
5,052,815
 
 
15,365,667
Diversified Capital Markets–0.47%
Deutsche Bank AG (Germany),
10.00%(b)(d)(e)
EUR
4,800,000
5,601,829
Health Care REITs–0.82%
MPT Operating Partnership L.P./MPT
Finance Corp., 3.33%,
03/24/2025
EUR
9,683,000
9,861,880
Paper & Plastic Packaging Products & Materials–0.00%
Mossi & Ghisolfi Finance
Luxembourg S.A. (Brazil),
9.10% (3 mo. EURIBOR +
5.63%)(e)(h)(n)(o)
EUR
4,100,000
0
Total Non-U.S. Dollar Denominated Bonds & Notes
(Cost $32,409,592)
31,413,250
 

Shares
 
Common Stocks & Other Equity Interests–0.48%
Advertising–0.01%
Clear Channel Outdoor Holdings, Inc.(p)
70,000
105,700
Alternative Carriers–0.01%
Lumen Technologies, Inc.(p)
20,000
146,800
Broadcasting–0.01%
E.W. Scripps Co. (The), Class A(p)
50,000
100,000
Broadline Retail–0.01%
Americanas S.A. (Brazil)(p)
41,300
56,766
Americanas S.A., Wts., expiring
03/19/2027 (Brazil)(p)
13,766
11,554
 
 
68,320
Cable & Satellite–0.01%
Altice USA, Inc., Class A(p)
40,000
96,400
Casinos & Gaming–0.06%
Caesars Entertainment, Inc.(p)
10,000
384,900
Melco Resorts & Entertainment Ltd., ADR
(Hong Kong)(p)
25,000
160,500
Studio City International Holdings Ltd.,
ADR (Hong Kong)(p)
25,000
165,000
 
 
710,400
Commodity Chemicals–0.01%
Trinseo PLC
35,000
151,550
See accompanying notes which are an integral part of this schedule.
Invesco High Yield Fund
 
 
Shares
Value
Communications Equipment–0.05%
CommScope Holding Co., Inc.(g)(p)
125,000
$596,250
Food Retail–0.00%
Casino Guichard-Perrachon S.A.
(France)(p)
28,014
39,553
Casino Guichard-Perrachon S.A., Wts.,
expiring 04/27/2029 (France)(p)
1,495,460
790
 
 
40,343
Housewares & Specialties–0.04%
Newell Brands, Inc.
50,000
479,500
Leisure Products–0.00%
HF Holdings, Inc.(h)
36,820
0
Oil & Gas Storage & Transportation–0.03%
NGL Energy Partners L.P.(p)
85,000
409,700
Pharmaceuticals–0.23%
Bausch Health Cos., Inc.(p)
75,000
627,750
Endo, Inc.(p)
85,952
2,091,470
 
 
2,719,220
Real Estate Services–0.01%
Anywhere Real Estate, Inc.(p)
20,000
98,000
Total Common Stocks & Other Equity Interests
(Cost $12,302,991)
5,722,183
Money Market Funds–0.80%
Invesco Government & Agency Portfolio,
Institutional Class, 4.57%(l)(q)
3,371,461
3,371,461
 
 
Shares
Value
Money Market Funds–(continued)
Invesco Treasury Portfolio, Institutional
Class, 4.53%(l)(q)
6,260,076
$6,260,076
Total Money Market Funds (Cost $9,631,537)
9,631,537
 
Options Purchased–0.12%
(Cost $1,711,891)(r)
1,503,442
TOTAL INVESTMENTS IN SECURITIES
(excluding investments
purchased with cash collateral
from securities on
loan)-98.61%
(Cost $1,175,467,738)
 
1,183,354,746
Investments Purchased with Cash Collateral from
Securities on Loan
Money Market Funds–2.29%
Invesco Private Government Fund,
4.63%(l)(q)(s)
7,691,227
7,691,227
Invesco Private Prime Fund, 4.71%(l)(q)(s)
19,755,347
19,761,273
Total Investments Purchased with Cash Collateral
from Securities on Loan (Cost $27,452,500)
27,452,500
TOTAL INVESTMENTS IN SECURITIES–100.90%
(Cost $1,202,920,238)
1,210,807,246
OTHER ASSETS LESS LIABILITIES—(0.90)%
(10,833,230
)
NET ASSETS–100.00%
$1,199,974,016
Investment Abbreviations: 
ADR
– American Depositary Receipt
BRL
– Brazilian Real
ETF
– Exchange-Traded Fund
EUR
– Euro
EURIBOR
– Euro Interbank Offered Rate
LIBOR
– London Interbank Offered Rate
PIK
– Pay-in-Kind
REIT
– Real Estate Investment Trust
SOFR
– Secured Overnight Financing Rate
USD
– U.S. Dollar
Wts.
– Warrants
See accompanying notes which are an integral part of this schedule.
Invesco High Yield Fund
Notes to Schedule of Investments: 
(a)
Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the
exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b)
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
November 30, 2024 was $871,480,375, which represented 72.62% of the Fund’s Net Assets.
(c)
All or a portion of this security is Pay-in-Kind. Pay-in-Kind securities pay interest income in the form of securities.
(d)
Security issued at a fixed rate for a specific period of time, after which it will convert to a variable rate.
(e)
Perpetual bond with no specified maturity date.
(f)
Zero coupon bond issued at a discount.
(g)
All or a portion of this security was out on loan at November 30, 2024.
(h)
Security valued using significant unobservable inputs (Level 3). See Note 1.
(i)
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.
(j)
Variable rate senior loan interests are, at present, not readily marketable, not registered under 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.
(k)
Restricted security. The value of this security at November 30, 2024 represented less than 1% of the Fund’s Net Assets.
(l)
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 November 30, 2024.
 
 
Value
February 29, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
Realized
Gain
(Loss)
Value
November 30, 2024
Dividend Income
Invesco Senior Loan ETF
$-
$47,403,500
$(11,712,094)
$54,144
$(27,430)
$35,718,120
$503,231
Investments in Affiliated Money Market
Funds:
Invesco Government & Agency Portfolio,
Institutional Class
14,365,491
171,744,574
(182,738,604)
-
-
3,371,461
318,926
Invesco Liquid Assets Portfolio, Institutional
Class
10,260,756
55,602,837
(65,862,694)
309
(1,208)
-
117,419
Invesco Treasury Portfolio, Institutional Class
16,417,704
268,643,890
(278,801,518)
-
-
6,260,076
473,638
Investments Purchased with Cash
Collateral from Securities on Loan:
Invesco Private Government Fund
-
70,965,244
(63,274,018)
-
-
7,691,227
88,617*
Invesco Private Prime Fund
-
135,561,188
(115,800,015)
-
101
19,761,273
264,553*
Total
$41,043,951
$749,921,233
$(718,188,943)
$54,453
$(28,537)
$72,802,157
$1,766,384
 
*
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.
 
(m)
Foreign denominated security. Principal amount is denominated in the currency indicated.
(n)
Defaulted security. Currently, the issuer is in default with respect to principal and/or interest payments. The value of this security at November 30, 2024
represented less than 1% of the Fund’s Net Assets.
(o)
Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on November 30, 2024.
(p)
Non-income producing security.
(q)
The rate shown is the 7-day SEC standardized yield as of November 30, 2024.
(r)
The table below details options purchased.
(s)
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.
 
See accompanying notes which are an integral part of this schedule.
Invesco High Yield Fund
Open Exchange-Traded Equity Options Purchased
Description
Type of
Contract
Expiration
Date
Number of
Contracts
Exercise
Price
Notional
Value(a)
Value
Equity Risk
Block, Inc.
Call
06/20/2025
83
USD
100.00
USD
830,000
$74,078
Carnival Corp.
Call
06/20/2025
355
USD
27.00
USD
958,500
98,868
Foot Locker, Inc.
Call
05/16/2025
222
USD
25.00
USD
555,000
98,790
FTAI Aviation Ltd.
Call
05/16/2025
54
USD
180.00
USD
972,000
97,200
Gap, Inc. (The)
Call
06/20/2025
254
USD
25.00
USD
635,000
86,868
International Game Technology PLC
Call
07/18/2025
631
USD
20.00
USD
1,262,000
96,227
iShares China Large-Cap ETF
Call
06/20/2025
616
USD
36.00
USD
2,217,600
49,588
iShares Russell 2000 ETF
Call
03/21/2025
170
USD
245.00
USD
4,165,000
192,610
Lumen Technologies, Inc.
Call
06/20/2025
816
USD
10.00
USD
816,000
100,368
Norwegian Cruise Line Holdings Ltd.
Call
06/20/2025
280
USD
28.00
USD
784,000
98,140
Uniti Group Inc.
Call
01/16/2026
1,266
USD
7.00
USD
886,200
101,280
Vertiv Holdings Co.
Call
06/20/2025
51
USD
150.00
USD
765,000
70,890
Vistra Corp.
Call
07/18/2025
33
USD
170.00
USD
561,000
97,515
Vistra Corp.
Call
04/17/2025
68
USD
180.00
USD
1,224,000
125,460
Wynn Resorts, Ltd.
Call
06/20/2025
107
USD
95.00
USD
1,016,500
115,560
Total Exchange-Traded Equity Options Purchased
 
 
$1,503,442
 
(a)
Notional Value is calculated by multiplying the Number of Contracts by the Exercise Price by the multiplier.
 
Open Forward Foreign Currency Contracts
Settlement
Date
Counterparty
Contract to
Unrealized
Appreciation
(Depreciation)
Deliver
Receive
Currency Risk
 
 
 
01/27/2025
HSBC Bank USA, N.A.
EUR
20,315,000
USD
21,585,789
$65,595
Currency Risk
 
 
 
01/27/2025
Barclays Bank PLC
EUR
3,000,000
USD
3,174,086
(3,889
)
01/27/2025
HSBC Bank USA, N.A.
EUR
2,000,000
USD
2,104,682
(13,969
)
01/27/2025
State Street Bank & Trust Co.
EUR
700,000
USD
731,341
(10,187
)
Subtotal—Depreciation
(28,045
)
Total Forward Foreign Currency Contracts
$37,550
 
Open Centrally Cleared Credit Default Swap Agreements(a)
Reference Entity
Buy/Sell
Protection
(Pay)/
Receive
Fixed
Rate
Payment
Frequency
Maturity Date
Implied
Credit
Spread(b)
Notional Value
Upfront
Payments Paid
(Received)
Value
Unrealized
Appreciation
Credit Risk
Markit CDX North America High Yield Index,
Series 43, Version 1
Sell
5.00%
Quarterly
12/20/2029
2.950%
USD
22,000,000
$1,794,445
$1,890,020
$95,575
 
(a)
Centrally cleared swap agreements collateralized by $2,888,183 cash held with Merrill Lynch International.
(b)
Implied credit spreads represent the current level, as of November 30, 2024, at which protection could be bought or sold given the terms of the existing credit
default swap agreement and serve as an indicator of the current status of the payment/performance risk of the credit default swap agreement. An implied credit
spread that has widened or increased since entry into the initial agreement may indicate a deteriorating credit profile and increased risk of default for the
reference entity. A declining or narrowing spread may indicate an improving credit profile or decreased risk of default for the reference entity. Alternatively, credit
spreads may increase or decrease reflecting the general tolerance for risk in the credit markets generally.
 
Abbreviations:
ETF
—Exchange-Traded Fund
EUR
—Euro
USD
—U.S. Dollar
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 High Yield Fund
Notes to Quarterly Schedule of Portfolio Holdings
November 30, 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. When significant events cause market movements to 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 November 30, 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
U.S. Dollar Denominated Bonds & Notes
$—
$1,037,626,980
$0
$1,037,626,980
Variable Rate Senior Loan Interests
—
57,982,934
1,363,500
59,346,434
Exchange-Traded Funds
38,110,920
—
—
38,110,920
Non-U.S. Dollar Denominated Bonds & Notes
—
31,413,250
0
31,413,250
Common Stocks & Other Equity Interests
3,591,160
2,131,023
0
5,722,183
Money Market Funds
9,631,537
27,452,500
—
37,084,037
Options Purchased
1,503,442
—
—
1,503,442
Total Investments in Securities
52,837,059
1,156,606,687
1,363,500
1,210,807,246
Other Investments - Assets*
Forward Foreign Currency Contracts
—
65,595
—
65,595
Swap Agreements
—
95,575
—
95,575
 
—
161,170
—
161,170
Other Investments - Liabilities*
Forward Foreign Currency Contracts
—
(28,045
)
—
(28,045
)
Total Other Investments
—
133,125
—
133,125
Total Investments
$52,837,059
$1,156,739,812
$1,363,500
$1,210,940,371
 
*
Unrealized appreciation (depreciation).
Invesco High Yield Fund