NPORT-EX 2 edgar.htm EDGAR HTML
Schedule of Investments(a)  
March 31, 2026
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests–99.48%
Advertising–0.36%
Omnicom Group, Inc.(b)
11,651
$877,437
Trade Desk, Inc. (The), Class A(c)
34,194
775,862
 
 
1,653,299
Aerospace & Defense–2.24%
Axon Enterprise, Inc.(b)(c)
1,803
765,716
Boeing Co. (The)(c)
4,357
867,174
General Dynamics Corp.
2,636
904,728
General Electric Co.
2,868
813,852
Howmet Aerospace, Inc.
3,707
854,315
Huntington Ingalls Industries, Inc.(b)
2,254
856,295
L3Harris Technologies, Inc.
2,559
883,239
Lockheed Martin Corp.
1,404
848,564
Northrop Grumman Corp.
1,270
866,445
RTX Corp.
4,500
868,050
Textron, Inc.(b)
10,001
875,687
TransDigm Group, Inc.(b)
724
839,087
 
 
10,243,152
Agricultural & Farm Machinery–0.19%
Deere & Co.
1,537
865,792
Agricultural Products & Services–0.42%
Archer-Daniels-Midland Co.(b)
13,169
957,255
Bunge Global S.A.
7,601
966,847
 
 
1,924,102
Air Freight & Logistics–0.79%
C.H. Robinson Worldwide, Inc.(b)
5,306
881,167
Expeditors International of
Washington, Inc.
6,625
948,899
FedEx Corp.
2,512
894,724
United Parcel Service, Inc., Class B(b)
9,254
910,409
 
 
3,635,199
Apparel Retail–0.41%
Ross Stores, Inc.
4,267
924,360
TJX Cos., Inc. (The)
5,909
943,668
 
 
1,868,028
Apparel, Accessories & Luxury Goods–0.60%
lululemon athletica, Inc.(c)
5,729
877,110
Ralph Lauren Corp.
2,752
946,660
Tapestry, Inc.
6,416
905,362
 
 
2,729,132
Application Software–2.87%
Adobe, Inc.(c)
3,407
828,174
AppLovin Corp., Class A(c)
2,023
805,154
Autodesk, Inc.(c)
3,704
886,738
Cadence Design Systems, Inc.(c)
3,170
880,848
Datadog, Inc., Class A(c)
7,315
863,536
Fair Isaac Corp.(b)(c)
781
833,749
Intuit, Inc.
2,119
916,213
Palantir Technologies, Inc., Class A(c)
6,153
900,061
PTC, Inc.(c)
5,862
835,276
 
Shares
Value
Application Software–(continued)
Roper Technologies, Inc.(b)
2,647
$936,667
Salesforce, Inc.
4,805
896,949
Synopsys, Inc.(c)
2,153
853,621
Trimble, Inc.(b)(c)
13,798
900,044
Tyler Technologies, Inc.(b)(c)
2,677
916,551
Workday, Inc., Class A(c)
6,767
879,169
 
 
13,132,750
Asset Management & Custody Banks–2.27%
Ameriprise Financial, Inc.
2,016
895,910
Ares Management Corp., Class A(b)
9,016
983,646
Bank of New York Mellon Corp. (The)
7,964
944,769
BlackRock, Inc.
961
924,203
Blackstone, Inc., Class A
8,697
1,000,068
Franklin Resources, Inc.(b)
37,358
882,396
Invesco Ltd.(d)
38,947
946,023
KKR & Co., Inc., Class A
10,707
990,398
Northern Trust Corp.(b)
6,621
924,093
State Street Corp.(b)
7,402
936,797
T. Rowe Price Group, Inc.(b)
10,442
941,242
 
 
10,369,545
Automobile Manufacturers–0.58%
Ford Motor Co.
76,724
885,395
General Motors Co.
12,472
929,164
Tesla, Inc.(b)(c)
2,288
850,564
 
 
2,665,123
Automotive Parts & Equipment–0.20%
Aptiv PLC(c)
13,266
921,191
Automotive Retail–0.59%
AutoZone, Inc.(c)
245
827,556
Carvana Co.(b)(c)
3,013
947,227
O’Reilly Automotive, Inc.(c)
9,882
912,207
 
 
2,686,990
Biotechnology–1.55%
AbbVie, Inc.
4,096
890,839
Amgen, Inc.(b)
2,470
869,070
Biogen, Inc.(c)
4,896
897,584
Gilead Sciences, Inc.
6,390
890,574
Incyte Corp.(c)
9,855
927,553
Moderna, Inc.(b)(c)
16,666
846,633
Regeneron Pharmaceuticals, Inc.
1,171
904,761
Vertex Pharmaceuticals, Inc.(b)(c)
1,893
845,300
 
 
7,072,314
Brewers–0.20%
Molson Coors Beverage Co., Class B(b)
20,743
893,194
Broadcasting–0.39%
Fox Corp., Class A(b)
9,827
573,897
Fox Corp., Class B
6,932
368,089
Paramount Skydance Corp.(b)
93,434
842,775
 
 
1,784,761
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Equally-Weighted S&P 500 Fund
 
Shares
Value
Broadline Retail–0.40%
Amazon.com, Inc.(c)
4,386
$913,472
eBay, Inc.
10,175
926,129
 
 
1,839,601
Building Products–1.55%
A.O. Smith Corp.(b)
13,695
903,048
Allegion PLC
6,362
924,335
Builders FirstSource, Inc.(c)
10,239
842,977
Carrier Global Corp.(b)
15,893
894,935
Johnson Controls International PLC
6,910
904,865
Lennox International, Inc.
1,833
850,750
Masco Corp.
14,928
901,203
Trane Technologies PLC
2,099
874,737
 
 
7,096,850
Cable & Satellite–0.41%
Charter Communications, Inc., Class A(b)(c)
4,158
897,629
EchoStar Corp., Class A(b)(c)
8,315
973,437
 
 
1,871,066
Cargo Ground Transportation–0.42%
J.B. Hunt Transport Services, Inc.(b)
4,434
939,565
Old Dominion Freight Line, Inc.(b)
4,941
965,471
 
 
1,905,036
Casinos & Gaming–0.62%
Las Vegas Sands Corp.
17,027
917,415
MGM Resorts International(c)
25,703
951,268
Wynn Resorts Ltd.(b)
9,322
946,649
 
 
2,815,332
Commodity Chemicals–0.49%
Dow, Inc.
27,140
1,130,381
LyondellBasell Industries N.V., Class A
13,489
1,086,674
 
 
2,217,055
Communications Equipment–1.22%
Arista Networks, Inc.(c)
6,748
828,519
Ciena Corp.(c)
2,686
1,042,786
Cisco Systems, Inc.
11,944
926,735
F5, Inc.(c)
3,222
932,221
Lumentum Holdings, Inc.(b)(c)
1,385
973,323
Motorola Solutions, Inc.
2,016
874,884
 
 
5,578,468
Computer & Electronics Retail–0.21%
Best Buy Co., Inc.
14,770
948,234
Construction & Engineering–0.60%
Comfort Systems USA, Inc.
650
896,343
EMCOR Group, Inc.
1,270
937,654
Quanta Services, Inc.(b)
1,644
902,589
 
 
2,736,586
Construction Machinery & Heavy Transportation Equipment–
0.80%
Caterpillar, Inc.
1,285
910,371
Cummins, Inc.
1,678
902,798
PACCAR, Inc.
7,897
912,103
Wabtec Corp.
3,693
922,918
 
 
3,648,190
 
Shares
Value
Construction Materials–0.61%
CRH PLC
8,969
$942,821
Martin Marietta Materials, Inc.
1,555
915,397
Vulcan Materials Co.
3,499
952,778
 
 
2,810,996
Consumer Electronics–0.20%
Garmin Ltd.
3,951
916,672
Consumer Finance–0.62%
American Express Co.
3,047
921,656
Capital One Financial Corp.
5,125
934,954
Synchrony Financial(b)
14,303
972,890
 
 
2,829,500
Consumer Staples Merchandise Retail–0.98%
Costco Wholesale Corp.
915
911,733
Dollar General Corp.(b)
6,442
764,859
Dollar Tree, Inc.(b)(c)
8,236
901,924
Target Corp.
7,853
951,784
Walmart, Inc.
7,553
938,687
 
 
4,468,987
Copper–0.20%
Freeport-McMoRan, Inc.
15,158
890,987
Data Center REITs–0.41%
Digital Realty Trust, Inc.
5,165
930,785
Equinix, Inc.
955
936,129
 
 
1,866,914
Data Processing & Outsourced Services–0.18%
Broadridge Financial Solutions, Inc.
5,094
827,673
Distillers & Vintners–0.43%
Brown-Forman Corp., Class B(b)
38,514
1,018,310
Constellation Brands, Inc., Class A(b)
6,221
933,150
 
 
1,951,460
Distributors–0.39%
Genuine Parts Co.
8,542
903,316
Pool Corp.(b)
4,423
894,906
 
 
1,798,222
Diversified Banks–1.66%
Bank of America Corp.
19,225
937,219
Citigroup, Inc.
8,542
968,748
Fifth Third Bancorp(b)
20,701
961,768
JPMorgan Chase & Co.
3,160
929,546
KeyCorp
47,470
951,773
PNC Financial Services Group, Inc. (The)
4,536
943,896
U.S. Bancorp(b)
17,859
928,847
Wells Fargo & Co.
12,132
965,829
 
 
7,587,626
Diversified Financial Services–0.21%
Apollo Global Management, Inc.(b)
8,792
979,605
Diversified Support Services–0.36%
Cintas Corp.
4,703
795,465
Copart, Inc.(c)
26,238
871,102
 
 
1,666,567
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Equally-Weighted S&P 500 Fund
 
Shares
Value
Electric Utilities–3.45%
Alliant Energy Corp.
13,173
$945,294
American Electric Power Co., Inc.
7,107
931,586
Constellation Energy Corp.(b)
3,020
843,335
Duke Energy Corp.
7,174
939,364
Edison International
13,040
954,267
Entergy Corp.
8,984
1,009,442
Evergy, Inc.(b)
11,514
943,227
Eversource Energy(b)
12,615
873,967
Exelon Corp.(b)
19,100
936,282
FirstEnergy Corp.
18,416
932,955
NextEra Energy, Inc.
10,177
945,240
NRG Energy, Inc.
6,276
917,175
PG&E Corp.
51,218
899,900
Pinnacle West Capital Corp.(b)
9,272
934,154
PPL Corp.(b)
24,781
946,634
Southern Co. (The)(b)
9,690
935,279
Xcel Energy, Inc.(b)
11,517
914,910
 
 
15,803,011
Electrical Components & Equipment–1.36%
AMETEK, Inc.
4,159
891,523
Eaton Corp. PLC
2,555
913,847
Emerson Electric Co.
6,683
875,606
Generac Holdings, Inc.(c)
4,388
857,108
Hubbell, Inc.
1,901
932,897
Rockwell Automation, Inc.
2,499
896,841
Vertiv Holdings Co., Class A
3,477
871,267
 
 
6,239,089
Electronic Components–0.60%
Amphenol Corp., Class A
6,933
875,984
Coherent Corp.(c)
3,711
883,997
Corning, Inc.
7,079
962,532
 
 
2,722,513
Electronic Equipment & Instruments–0.59%
Keysight Technologies, Inc.(c)
3,282
926,739
Teledyne Technologies, Inc.(b)(c)
1,389
840,359
Zebra Technologies Corp., Class A(c)
4,366
912,843
 
 
2,679,941
Electronic Manufacturing Services–0.41%
Jabil, Inc.
3,563
946,440
TE Connectivity PLC (Switzerland)
4,546
950,205
 
 
1,896,645
Environmental & Facilities Services–0.79%
Republic Services, Inc.
4,167
912,656
Rollins, Inc.(b)
16,633
888,368
Veralto Corp.
10,209
902,680
Waste Management, Inc.
3,944
906,292
 
 
3,609,996
Fertilizers & Agricultural Chemicals–0.62%
CF Industries Holdings, Inc.
7,764
1,008,078
Corteva, Inc.(b)
11,864
993,135
Mosaic Co. (The)(b)
32,000
816,000
 
 
2,817,213
Financial Exchanges & Data–1.80%
Cboe Global Markets, Inc.(b)
3,285
923,315
 
Shares
Value
Financial Exchanges & Data–(continued)
CME Group, Inc., Class A
3,073
$907,610
Coinbase Global, Inc., Class A(b)(c)
4,696
819,969
FactSet Research Systems, Inc.
4,537
984,484
Intercontinental Exchange, Inc.
5,941
934,400
Moody’s Corp.
2,091
912,199
MSCI, Inc.
1,705
919,012
Nasdaq, Inc.
10,910
926,150
S&P Global, Inc.
2,174
924,689
 
 
8,251,828
Food Distributors–0.17%
Sysco Corp.
11,033
786,984
Food Retail–0.20%
Kroger Co. (The)
12,921
934,964
Footwear–0.39%
Deckers Outdoor Corp.(c)
9,081
908,917
NIKE, Inc., Class B(b)
16,746
884,524
 
 
1,793,441
Gas Utilities–0.20%
Atmos Energy Corp.
5,061
934,868
Gold–0.19%
Newmont Corp.
8,026
868,814
Health Care Distributors–0.76%
Cardinal Health, Inc.
4,329
914,761
Cencora, Inc.
2,662
836,240
Henry Schein, Inc.(b)(c)
12,193
898,624
McKesson Corp.
977
845,457
 
 
3,495,082
Health Care Equipment–3.09%
Abbott Laboratories
8,460
868,588
Baxter International, Inc.(b)
51,465
864,612
Becton, Dickinson and Co.
5,717
898,884
Boston Scientific Corp.(c)
13,397
840,662
Dexcom, Inc.(c)
14,066
883,345
Edwards Lifesciences Corp.(c)
10,963
877,917
GE HealthCare Technologies, Inc.(b)
12,839
913,880
Hologic, Inc.(c)
12,369
934,973
IDEXX Laboratories, Inc.(c)
1,546
868,682
Insulet Corp.(c)
3,905
819,425
Intuitive Surgical, Inc.(c)
1,893
872,654
Medtronic PLC
10,485
908,525
ResMed, Inc.(b)
3,883
871,656
STERIS PLC
4,210
930,957
Stryker Corp.
2,697
886,207
Zimmer Biomet Holdings, Inc.(b)
9,954
900,041
 
 
14,141,008
Health Care Facilities–0.37%
HCA Healthcare, Inc.
1,686
797,882
Universal Health Services, Inc., Class B
5,008
896,282
 
 
1,694,164
Health Care REITs–0.78%
Alexandria Real Estate Equities, Inc.(b)
18,593
863,087
Healthpeak Properties, Inc.
54,444
894,515
Ventas, Inc.(b)
10,871
889,030
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Equally-Weighted S&P 500 Fund
 
Shares
Value
Health Care REITs–(continued)
Welltower, Inc.(b)
4,543
$898,197
 
 
3,544,829
Health Care Services–1.00%
Cigna Group (The)
3,575
953,631
CVS Health Corp.
12,319
884,751
DaVita, Inc.(c)
6,026
926,136
Labcorp Holdings, Inc.(b)
3,448
919,961
Quest Diagnostics, Inc.
4,650
911,307
 
 
4,595,786
Health Care Supplies–0.59%
Align Technology, Inc.(b)(c)
5,335
914,579
Cooper Cos., Inc. (The)(c)
12,648
904,332
Solventum Corp.(c)
13,794
900,748
 
 
2,719,659
Heavy Electrical Equipment–0.21%
GE Vernova, Inc.
1,091
952,334
Home Improvement Retail–0.39%
Home Depot, Inc. (The)
2,658
874,190
Lowe’s Cos., Inc.(b)
3,777
892,429
 
 
1,766,619
Homebuilding–0.77%
D.R. Horton, Inc.(b)
6,538
897,144
Lennar Corp., Class A
9,659
838,788
NVR, Inc.(c)
138
909,396
PulteGroup, Inc.(b)
7,560
889,132
 
 
3,534,460
Homefurnishing Retail–0.20%
Williams-Sonoma, Inc.(b)
5,020
915,297
Hotel & Resort REITs–0.20%
Host Hotels & Resorts, Inc.
48,608
931,329
Hotels, Resorts & Cruise Lines–1.58%
Airbnb, Inc., Class A(c)
6,992
882,950
Booking Holdings, Inc.
211
888,377
Carnival Corp.
35,918
929,558
Expedia Group, Inc.
3,945
910,861
Hilton Worldwide Holdings, Inc.
3,142
955,419
Marriott International, Inc., Class A
2,782
909,909
Norwegian Cruise Line Holdings Ltd.(c)
45,614
852,982
Royal Caribbean Cruises Ltd.
3,255
895,711
 
 
7,225,767
Household Products–0.96%
Church & Dwight Co., Inc.
9,359
873,382
Clorox Co. (The)(b)
8,317
861,891
Colgate-Palmolive Co.
10,409
887,159
Kimberly-Clark Corp.
9,324
899,486
Procter & Gamble Co. (The)(b)
6,084
878,773
 
 
4,400,691
Human Resource & Employment Services–0.39%
Automatic Data Processing, Inc.(b)
4,380
889,928
Paychex, Inc.(b)
9,924
914,199
 
 
1,804,127
 
Shares
Value
Independent Power Producers & Energy Traders–0.39%
AES Corp. (The)
65,311
$920,232
Vistra Corp.
5,861
881,084
 
 
1,801,316
Industrial Conglomerates–0.38%
3M Co.
6,012
873,123
Honeywell International, Inc.
3,896
880,613
 
 
1,753,736
Industrial Gases–0.42%
Air Products and Chemicals, Inc.
3,357
975,175
Linde PLC
1,936
959,791
 
 
1,934,966
Industrial Machinery & Supplies & Components–2.36%
Dover Corp.
4,436
924,684
Fortive Corp.(b)
16,566
915,769
IDEX Corp.
4,796
909,082
Illinois Tool Works, Inc.(b)
3,435
894,096
Ingersoll Rand, Inc.(b)
10,953
877,554
Nordson Corp.
3,407
906,467
Otis Worldwide Corp.
11,027
849,961
Parker-Hannifin Corp.(b)
989
885,392
Pentair PLC
10,266
894,271
Snap-on, Inc.(b)
2,523
916,404
Stanley Black & Decker, Inc.
12,650
898,909
Xylem, Inc.
7,624
911,068
 
 
10,783,657
Industrial REITs–0.20%
Prologis, Inc.
6,939
917,197
Insurance Brokers–1.01%
Aon PLC, Class A
2,865
924,765
Arthur J. Gallagher & Co.(b)
4,445
962,698
Brown & Brown, Inc.(b)
13,641
889,530
Marsh & McLennan Cos., Inc.
5,361
929,865
Willis Towers Watson PLC
3,217
935,182
 
 
4,642,040
Integrated Oil & Gas–0.68%
Chevron Corp.
4,743
981,327
Exxon Mobil Corp.
6,154
1,044,087
Occidental Petroleum Corp.
16,783
1,090,895
 
 
3,116,309
Integrated Telecommunication Services–0.61%
AT&T, Inc.(b)
34,344
995,632
Comcast Corp., Class A
30,514
876,057
Verizon Communications, Inc.
18,405
923,931
 
 
2,795,620
Interactive Home Entertainment–0.40%
Electronic Arts, Inc.
4,665
951,054
Take-Two Interactive Software, Inc.(c)
4,419
872,752
 
 
1,823,806
Interactive Media & Services–0.36%
Alphabet, Inc., Class A
1,677
482,238
Alphabet, Inc., Class C
1,338
383,819
Meta Platforms, Inc., Class A
1,383
791,256
 
 
1,657,313
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Equally-Weighted S&P 500 Fund
 
Shares
Value
Internet Services & Infrastructure–0.62%
Akamai Technologies, Inc.(c)
8,761
$1,006,201
GoDaddy, Inc., Class A(c)
10,779
891,100
VeriSign, Inc.
3,857
957,924
 
 
2,855,225
Investment Banking & Brokerage–1.20%
Charles Schwab Corp. (The)
10,066
946,003
Goldman Sachs Group, Inc. (The)(b)
1,109
938,203
Interactive Brokers Group, Inc., Class A
13,639
914,768
Morgan Stanley
5,797
954,012
Raymond James Financial, Inc.(b)
6,289
910,584
Robinhood Markets, Inc., Class A(c)
11,854
821,482
 
 
5,485,052
IT Consulting & Other Services–1.00%
Accenture PLC, Class A
4,629
917,884
Cognizant Technology Solutions Corp.,
Class A
14,942
916,692
EPAM Systems, Inc.(b)(c)
6,570
889,578
Gartner, Inc.(c)
5,816
920,906
International Business Machines Corp.
3,747
908,235
 
 
4,553,295
Leisure Products–0.20%
Hasbro, Inc.
9,895
926,172
Life & Health Insurance–1.03%
Aflac, Inc.
8,531
935,936
Globe Life, Inc.
6,470
900,430
MetLife, Inc.(b)
13,333
942,910
Principal Financial Group, Inc.(b)
10,577
953,093
Prudential Financial, Inc.
9,826
959,902
 
 
4,692,271
Life Sciences Tools & Services–2.03%
Agilent Technologies, Inc.
8,081
921,072
Bio-Techne Corp.(b)
17,397
909,167
Charles River Laboratories International,
Inc.(c)
5,522
952,545
Danaher Corp.
4,782
906,667
IQVIA Holdings, Inc.(c)
5,437
927,226
Mettler-Toledo International, Inc.(c)
744
938,333
Revvity, Inc.(b)
10,407
911,757
Thermo Fisher Scientific, Inc.
1,881
924,568
Waters Corp.(c)
3,052
908,886
West Pharmaceutical Services, Inc.(b)
3,914
981,005
 
 
9,281,226
Managed Health Care–0.79%
Centene Corp.(c)
26,012
851,633
Elevance Health, Inc.(b)
3,218
942,070
Humana, Inc.
5,457
946,189
UnitedHealth Group, Inc.
3,270
884,829
 
 
3,624,721
Metal, Glass & Plastic Containers–0.20%
Ball Corp.
15,165
896,403
Movies & Entertainment–0.99%
Live Nation Entertainment, Inc.(b)(c)
5,626
858,021
Netflix, Inc.(c)
9,831
945,251
TKO Group Holdings, Inc.(b)
4,616
930,816
 
Shares
Value
Movies & Entertainment–(continued)
Walt Disney Co. (The)
9,245
$891,033
Warner Bros. Discovery, Inc.(c)
33,541
921,036
 
 
4,546,157
Multi-Family Residential REITs–1.17%
AvalonBay Communities, Inc.(b)
5,429
886,827
Camden Property Trust(b)
9,159
894,468
Equity Residential
15,505
917,121
Essex Property Trust, Inc.(b)
3,728
902,176
Mid-America Apartment Communities, Inc.
7,291
890,377
UDR, Inc.
25,868
873,821
 
 
5,364,790
Multi-Sector Holdings–0.19%
Berkshire Hathaway, Inc., Class B(c)
1,838
880,770
Multi-Utilities–2.06%
Ameren Corp.
8,530
937,618
CenterPoint Energy, Inc.(b)
21,718
937,349
CMS Energy Corp.(b)
12,299
954,156
Consolidated Edison, Inc.
8,348
944,827
Dominion Energy, Inc.(b)
14,994
926,929
DTE Energy Co.(b)
6,367
930,983
NiSource, Inc.(b)
20,163
940,805
Public Service Enterprise Group, Inc.
11,332
917,325
Sempra
10,053
976,850
WEC Energy Group, Inc.(b)
8,232
953,019
 
 
9,419,861
Office REITs–0.20%
BXP, Inc.(b)
17,887
928,335
Oil & Gas Equipment & Services–0.65%
Baker Hughes Co., Class A
15,818
965,689
Halliburton Co.
25,961
1,012,220
SLB Ltd.
19,365
995,167
 
 
2,973,076
Oil & Gas Exploration & Production–1.98%
APA Corp.(b)
27,690
1,175,164
ConocoPhillips
7,970
1,052,040
Coterra Energy, Inc.
29,754
1,045,555
Devon Energy Corp.(b)
20,564
1,034,780
Diamondback Energy, Inc.
5,154
1,019,410
EOG Resources, Inc.
7,039
1,017,628
EQT Corp.
14,614
930,035
Expand Energy Corp.(b)
8,591
943,120
Texas Pacific Land Corp.(b)
1,778
843,768
 
 
9,061,500
Oil & Gas Refining & Marketing–0.65%
Marathon Petroleum Corp.
4,011
979,406
Phillips 66(b)
5,503
1,002,536
Valero Energy Corp.(b)
4,037
997,462
 
 
2,979,404
Oil & Gas Storage & Transportation–0.84%
Kinder Morgan, Inc.
28,198
945,479
ONEOK, Inc.(b)
10,877
983,172
Targa Resources Corp.
3,943
988,628
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Equally-Weighted S&P 500 Fund
 
Shares
Value
Oil & Gas Storage & Transportation–(continued)
Williams Cos., Inc. (The)
12,537
$912,443
 
 
3,829,722
Other Specialized REITs–0.39%
Iron Mountain, Inc.
8,669
885,451
VICI Properties, Inc.
32,821
896,670
 
 
1,782,121
Other Specialty Retail–0.35%
Tractor Supply Co.(b)
18,857
854,222
Ulta Beauty, Inc.(c)
1,391
727,090
 
 
1,581,312
Packaged Foods & Meats–1.95%
Campbell’s Co. (The)(b)
40,663
905,565
Conagra Brands, Inc.(b)
54,677
859,522
General Mills, Inc.(b)
22,941
853,864
Hershey Co. (The)
4,281
889,977
Hormel Foods Corp.(b)
40,504
917,416
J.M. Smucker Co. (The)
8,667
835,845
Kraft Heinz Co. (The)
40,311
906,594
McCormick & Co., Inc.
15,565
785,099
Mondelez International, Inc., Class A(b)
16,850
971,234
Tyson Foods, Inc., Class A
15,596
999,236
 
 
8,924,352
Paper & Plastic Packaging Products & Materials–0.97%
Amcor PLC(b)
21,947
872,393
Avery Dennison Corp.(b)
5,343
922,629
International Paper Co.(b)
24,128
861,370
Packaging Corp. of America
4,191
889,414
Smurfit WestRock PLC
22,104
880,845
 
 
4,426,651
Passenger Airlines–0.62%
Delta Air Lines, Inc.
15,772
1,048,523
Southwest Airlines Co.(b)
22,288
837,360
United Airlines Holdings, Inc.(c)
10,288
947,216
 
 
2,833,099
Passenger Ground Transportation–0.20%
Uber Technologies, Inc.(c)
12,442
894,953
Personal Care Products–0.36%
Estee Lauder Cos., Inc. (The), Class A(b)
10,190
731,336
Kenvue, Inc.
52,663
907,910
 
 
1,639,246
Pharmaceuticals–1.41%
Bristol-Myers Squibb Co.
15,552
943,229
Eli Lilly and Co.
912
838,830
Johnson & Johnson
3,837
937,916
Merck & Co., Inc.(b)
8,026
965,448
Pfizer, Inc.
34,168
959,437
Viatris, Inc.
66,511
898,564
Zoetis, Inc.
7,595
897,805
 
 
6,441,229
Property & Casualty Insurance–2.42%
Allstate Corp. (The)
4,536
940,494
American International Group, Inc.
11,964
900,291
Arch Capital Group Ltd.(c)
9,839
944,446
 
Shares
Value
Property & Casualty Insurance–(continued)
Assurant, Inc.(b)
4,189
$912,406
Chubb Ltd.
2,889
941,612
Cincinnati Financial Corp.
5,688
895,007
Erie Indemnity Co., Class A(b)
3,842
965,533
Hartford Insurance Group, Inc. (The)
6,911
934,575
Loews Corp.
8,575
915,295
Progressive Corp. (The)
4,635
918,842
Travelers Cos., Inc. (The)
3,114
908,291
W.R. Berkley Corp.(b)
13,746
911,085
 
 
11,087,877
Publishing–0.21%
News Corp., Class A
28,017
698,464
News Corp., Class B
9,247
263,632
 
 
962,096
Rail Transportation–0.60%
CSX Corp.
23,123
949,199
Norfolk Southern Corp.
3,134
899,458
Union Pacific Corp.
3,715
901,333
 
 
2,749,990
Real Estate Services–0.39%
CBRE Group, Inc., Class A(c)
7,040
953,638
CoStar Group, Inc.(b)(c)
20,572
829,875
 
 
1,783,513
Regional Banks–1.03%
Citizens Financial Group, Inc.
15,942
956,042
Huntington Bancshares, Inc.
59,427
930,032
M&T Bank Corp.(b)
4,589
948,638
Regions Financial Corp.(b)
35,589
929,585
Truist Financial Corp.
20,434
939,351
 
 
4,703,648
Reinsurance–0.20%
Everest Group Ltd.
2,843
929,235
Research & Consulting Services–0.76%
Equifax, Inc.
4,870
876,941
Jacobs Solutions, Inc.(b)
7,018
893,251
Leidos Holdings, Inc.(b)
5,380
836,698
Verisk Analytics, Inc.
4,591
871,142
 
 
3,478,032
Restaurants–1.33%
Chipotle Mexican Grill, Inc.(c)
27,557
882,100
Darden Restaurants, Inc.
4,584
898,647
Domino’s Pizza, Inc.(b)
2,372
851,050
DoorDash, Inc., Class A(c)
5,503
826,275
McDonald’s Corp.
2,868
891,346
Starbucks Corp.
9,195
823,780
Yum! Brands, Inc.(b)
5,957
926,194
 
 
6,099,392
Retail REITs–0.99%
Federal Realty Investment Trust
8,717
925,832
Kimco Realty Corp.
40,260
904,642
Realty Income Corp.(b)
14,415
881,910
Regency Centers Corp.(b)
12,012
908,828
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Equally-Weighted S&P 500 Fund
 
Shares
Value
Retail REITs–(continued)
Simon Property Group, Inc.
4,920
$917,728
 
 
4,538,940
Self-Storage REITs–0.37%
Extra Space Storage, Inc.
6,592
864,409
Public Storage
3,109
842,166
 
 
1,706,575
Semiconductor Materials & Equipment–1.00%
Applied Materials, Inc.
2,656
907,794
KLA Corp.
624
918,784
Lam Research Corp.
4,154
887,544
Qnity Electronics, Inc.
8,021
925,463
Teradyne, Inc.
3,089
915,765
 
 
4,555,350
Semiconductors–2.74%
Advanced Micro Devices, Inc.(c)
4,441
903,433
Analog Devices, Inc.
2,922
929,605
Broadcom, Inc.
2,652
820,821
First Solar, Inc.(b)(c)
4,658
918,837
Intel Corp.(c)
19,441
857,931
Microchip Technology, Inc.
14,178
916,041
Micron Technology, Inc.
2,227
752,370
Monolithic Power Systems, Inc.(b)
867
947,934
NVIDIA Corp.
5,013
874,267
NXP Semiconductors N.V. (Netherlands)
4,667
918,746
ON Semiconductor Corp.(c)
15,745
974,930
QUALCOMM, Inc.
6,954
895,536
Skyworks Solutions, Inc.
16,853
902,478
Texas Instruments, Inc.
4,695
911,487
 
 
12,524,416
Single-Family Residential REITs–0.20%
Invitation Homes, Inc.(b)
37,000
919,450
Soft Drinks & Non-alcoholic Beverages–0.78%
Coca-Cola Co. (The)
12,016
913,817
Keurig Dr Pepper, Inc.(b)
33,735
888,242
Monster Beverage Corp.(c)
12,034
871,984
PepsiCo, Inc.
5,824
904,409
 
 
3,578,452
Specialty Chemicals–1.24%
Albemarle Corp.
5,552
996,751
DuPont de Nemours, Inc.
20,283
928,961
Ecolab, Inc.
3,367
895,689
International Flavors & Fragrances, Inc.(b)
13,574
984,794
PPG Industries, Inc.
8,962
957,859
Sherwin-Williams Co. (The)
2,890
926,389
 
 
5,690,443
Steel–0.40%
Nucor Corp.(b)
5,429
918,044
Steel Dynamics, Inc.(b)
5,062
911,160
 
 
1,829,204
Systems Software–1.31%
CrowdStrike Holdings, Inc., Class A(c)
2,111
824,156
Fortinet, Inc.(c)
11,174
913,139
Gen Digital, Inc.(b)
43,917
826,957
 
Shares
Value
Systems Software–(continued)
Microsoft Corp.
2,304
$852,872
Oracle Corp.
5,719
841,322
Palo Alto Networks, Inc.(b)(c)
5,656
906,770
ServiceNow, Inc.(c)
8,066
843,300
 
 
6,008,516
Technology Distributors–0.21%
CDW Corp.(b)
7,844
949,281
Technology Hardware, Storage & Peripherals–1.82%
Apple, Inc.(e)
3,576
907,553
Dell Technologies, Inc., Class C(b)
6,195
1,016,786
Hewlett Packard Enterprise Co.(b)
42,563
1,013,425
HP, Inc.(b)
50,530
970,681
NetApp, Inc.
9,560
978,849
Sandisk Corp.(c)
1,418
900,912
Seagate Technology Holdings PLC
2,416
946,492
Super Micro Computer, Inc.(b)(c)
29,342
668,117
Western Digital Corp.(b)
3,469
938,330
 
 
8,341,145
Telecom Tower REITs–0.57%
American Tower Corp.
5,101
880,330
Crown Castle, Inc.(b)
10,654
866,277
SBA Communications Corp., Class A
4,947
851,428
 
 
2,598,035
Timber REITs–0.21%
Weyerhaeuser Co.(b)
40,156
981,011
Tobacco–0.41%
Altria Group, Inc.
14,060
927,819
Philip Morris International, Inc.
5,591
924,416
 
 
1,852,235
Trading Companies & Distributors–0.59%
Fastenal Co.
20,024
929,113
United Rentals, Inc.(b)
1,169
851,687
W.W. Grainger, Inc.
836
911,917
 
 
2,692,717
Transaction & Payment Processing Services–1.74%
Block, Inc., Class A(c)
14,433
868,578
Corpay, Inc.(c)
2,822
821,174
Fidelity National Information Services, Inc.
18,596
872,338
Fiserv, Inc.(c)
15,944
889,675
Global Payments, Inc.
12,804
861,709
Jack Henry & Associates, Inc.
5,585
882,654
Mastercard, Inc., Class A
1,850
924,371
PayPal Holdings, Inc.
20,470
925,858
Visa, Inc., Class A
3,019
912,463
 
 
7,958,820
Water Utilities–0.21%
American Water Works Co., Inc.(b)
6,943
944,873
Wireless Telecommunication Services–0.20%
T-Mobile US, Inc.
4,371
918,041
Total Common Stocks & Other Equity Interests
(Cost $242,234,048)
455,184,848
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Equally-Weighted S&P 500 Fund
 
Shares
Value
Money Market Funds–0.71%
Invesco Government & Agency Portfolio,
Institutional Class, 3.58%(d)(f)
1,138,837
$1,138,837
Invesco Treasury Portfolio, Institutional
Class, 3.56%(d)(f)
2,114,981
2,114,981
Total Money Market Funds (Cost $3,253,818)
3,253,818
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased
with cash collateral from securities
on loan)-100.19%
(Cost $245,487,866)
 
458,438,666
Investments Purchased with Cash Collateral from
Securities on Loan
Money Market Funds–25.44%
Invesco Private Government Fund,
3.63%(d)(f)(g)
31,026,787
31,026,787
 
Shares
Value
Money Market Funds–(continued)
Invesco Private Prime Fund, 3.80%(d)(f)(g)
85,350,662
$85,359,197
Total Investments Purchased with Cash Collateral
from Securities on Loan (Cost $116,395,466)
116,385,984
TOTAL INVESTMENTS IN SECURITIES–125.63%
(Cost $361,883,332)
574,824,650
OTHER ASSETS LESS LIABILITIES—(25.63)%
(117,261,707
)
NET ASSETS–100.00%
$457,562,943
Investment Abbreviations: 
REIT
– Real Estate Investment Trust
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)
All or a portion of this security was out on loan at March 31, 2026.
(c)
Non-income producing security.
(d)
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, 2026.
 
 
Value
December 31, 2025
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value
March 31, 2026
Dividend Income
Invesco Ltd.
$937,813
$101,815
$(28,317)
$(73,959)
$8,671
$946,023
$7,418
Investments in Affiliated Money Market
Funds:
Invesco Government & Agency Portfolio,
Institutional Class
992,834
7,196,166
(7,050,163)
-
-
1,138,837
6,443
Invesco Treasury Portfolio, Institutional Class
1,843,827
13,364,309
(13,093,155)
-
-
2,114,981
11,875
Investments Purchased with Cash Collateral
from Securities on Loan:
Invesco Private Government Fund
18,889,969
184,481,524
(172,344,706)
-
-
31,026,787
291,998*
Invesco Private Prime Fund
59,101,726
218,717,136
(192,441,256)
(9,482)
(8,927)
85,359,197
742,148*
Total
$81,766,169
$423,860,950
$(384,957,597)
$(83,441)
$(256)
$120,585,825
$1,059,882
 
*
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.
 
(e)
All or a portion of the value was pledged as collateral to cover margin requirements for open futures contracts.
(f)
The rate shown is the 7-day SEC standardized yield as of March 31, 2026.
(g)
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.
 
Open Futures Contracts
Long Futures Contracts
Number of
Contracts
Expiration
Month
Notional
Value
Value
Unrealized
Appreciation
Equity Risk
E-mini S&P 500 Equal Weight
23
June-2026
$3,595,360
$650
$650
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 V.I. Equally-Weighted S&P 500 Fund
Notes to Quarterly Schedule of Portfolio Holdings
March 31, 2026
(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, 2026. 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
Common Stocks & Other Equity Interests
$455,184,848
$—
$—
$455,184,848
Money Market Funds
3,253,818
116,385,984
—
119,639,802
Total Investments in Securities
458,438,666
116,385,984
—
574,824,650
Other Investments - Assets*
Futures Contracts
650
—
—
650
Total Investments
$458,439,316
$116,385,984
$—
$574,825,300
 
*
Unrealized appreciation.
Invesco V.I. Equally-Weighted S&P 500 Fund