NPORT-EX 2 edgar.htm EDGAR HTML
Schedule of Investments  
March 31, 2025
(Unaudited)
 
 
Shares
Value
Money Market Funds–2.92%
Invesco Government & Agency
Portfolio, Institutional Class,
4.29%(a)(b)
111,102
$111,102
Invesco Treasury Portfolio, Institutional
Class, 4.25%(a)(b)
206,331
206,331
Total Money Market Funds (Cost $317,433)
317,433
 
Shares
Value
 
Options Purchased–115.22%
(Cost $12,867,452)(c)
$12,524,852
TOTAL INVESTMENTS IN SECURITIES–118.14%
(Cost $13,184,885)
12,842,285
OTHER ASSETS LESS LIABILITIES—(18.14)%
(1,972,087
)
NET ASSETS–100.00%
$10,870,198
Notes to Schedule of Investments: 
(a)
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
$223,389
$216,611
$(328,898)
$-
$-
$111,102
$1,948
Invesco Treasury Portfolio, Institutional Class
414,864
402,276
(610,809)
-
-
206,331
3,588
Total
$638,253
$618,887
$(939,707)
$-
$-
$317,433
$5,536
 
(b)
The rate shown is the 7-day SEC standardized yield as of March 31, 2025.
(c)
The table below details options purchased.
 
Open Equity Options Purchased
Description
Type of
Contract
Expiration
Date
Number of
Contracts
Exercise
Price
Notional
Value(a)
Value
Equity Risk
Invesco QQQ Trust, Series 1
Call
06/30/2025
98
USD
14.37
USD
140,826
$4,449,552
Equity Risk
Invesco QQQ Trust, Series 1
Put
06/30/2025
98
USD
479.11
USD
4,695,278
230,413
Total Open Equity Options Purchased
 
 
$4,679,965
 
(a)
Notional Value is calculated by multiplying the Number of Contracts by the Exercise Price by the multiplier.
 
Open Index Options Purchased
Description
Type of
Contract
Expiration
Date
Number of
Contracts
Exercise
Price
Notional
Value(a)
Value
Equity Risk
NASDAQ 100 Index
Call
06/30/2025
4
USD
590.49
USD
236,196
$7,453,784
Equity Risk
NASDAQ 100 Index
Put
06/30/2025
4
USD
19,682.87
USD
7,873,148
391,103
Total Open Index Options Purchased
$7,844,887
 
(a)
Notional Value is calculated by multiplying the Number of Contracts by the Exercise Price by the multiplier.
 
Open Equity Options Written
Description
Type of
Contract
Expiration
Date
Number of
Contracts
Exercise
Price
Notional
Value(a)
Value
Equity Risk
Invesco QQQ Trust, Series 1
Call
06/30/2025
98
USD
561.04
USD
5,498,192
$ (4,386
)
Equity Risk
Invesco QQQ Trust, Series 1
Put
06/30/2025
98
USD
431.20
USD
4,225,760
(82,076
)
Total Open Equity Options Written
$(86,462
)
 
(a)
Notional Value is calculated by multiplying the Number of Contracts by the Exercise Price by the multiplier.
 
See accompanying notes which are an integral part of this schedule.
Invesco® V.I. Nasdaq 100 Buffer Fund - June
Open Index Options Written
Description
Type of
Contract
Expiration
Date
Number of
Contracts
Exercise
Price
Notional
Value(a)
Value
Equity Risk
NASDAQ 100 Index
Call
06/30/2025
4
USD
23,048.64
USD
9,219,456
$ (5,707
)
Equity Risk
NASDAQ 100 Index
Put
06/30/2025
4
USD
17,714.58
USD
7,085,832
(142,118
)
Total Open Index Options Written
$(147,825
)
 
(a)
Notional Value is calculated by multiplying the Number of Contracts by the Exercise Price by the multiplier.
 
Abbreviations:
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® V.I. Nasdaq 100 Buffer Fund - June
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
Money Market Funds
$317,433
$—
$—
$317,433
Options Purchased
—
12,524,852
—
12,524,852
Total Investments in Securities
317,433
12,524,852
—
12,842,285
Other Investments - Liabilities*
Options Written
—
(234,287
)
—
(234,287
)
Total Investments
$317,433
$12,290,565
$—
$12,607,998
 
*
Options written are shown at value.
Invesco® V.I. Nasdaq 100 Buffer Fund - June