Invesco Management Trust NPORT-P Invesco Conservative Income Fund (May 2023 report)

Schedule of Investments

May 31, 2023

(Unaudited)

	Interest Rate			Maturity Date	Principal Amount (000)		Value
U.S. Dollar Denominated Bonds & Notes-55.85%(a)
Aerospace & Defense-0.74%
L3Harris Technologies, Inc.		3.85	%	06/15/2023	$	18,000	$	17,984,638
Agricultural & Farm Machinery-0.92%
John Deere Capital Corp.		0.63	%	09/10/2024		6,222		5,897,911
John Deere Capital Corp.		4.80	%	01/09/2026		16,305		16,412,811
								22,310,722
Application Software-0.20%
Intuit, Inc.		0.65	%	07/15/2023		5,000		4,969,265
Asset Management & Custody Banks-0.34%
Bank of New York Mellon Corp. (The)(b)		5.22	%	11/21/2025		8,333		8,316,871
Automobile Manufacturers-2.95%
BMW US Capital LLC(c)		0.75	%	08/12/2024		11,111		10,543,755
BMW US Capital LLC(c)		2.25	%	09/15/2023		5,215		5,165,235
Hyundai Capital America(c)		1.00	%	09/17/2024		11,628		10,952,952
Mercedes-Benz Finance North America LLC(c)		4.80	%	03/30/2026		11,104		11,095,299
Mercedes-Benz Finance North America LLC(c)		5.50	%	11/27/2024		15,000		15,054,810
Toyota Motor Credit Corp.		4.80	%	01/10/2025		6,154		6,153,651
Volkswagen Group of America Finance LLC(c)		0.88	%	11/22/2023		13,000		12,709,740
								71,675,442
Construction Materials-0.33%
Vulcan Materials Co.		5.80	%	03/01/2026		8,000		8,023,818
Consumer Finance-0.97%
American Honda Finance Corp.		0.75	%	08/09/2024		11,200		10,622,059
Capital One Financial Corp.		3.50	%	06/15/2023		13,005		12,994,015
								23,616,074
Diversified Banks-18.35%
ANZ New Zealand (Int’l) Ltd. (New Zealand) (SOFR + 0.60%)(c)(d)		5.70	%	02/18/2025		7,500		7,473,137
Banco Santander S.A. (Spain)		3.89	%	05/24/2024		17,000		16,678,974
Bank of America Corp.(b)		0.81	%	10/24/2024		15,000		14,703,448
Bank of America Corp.		4.10	%	07/24/2023		5,000		4,985,329
Bank of Montreal (Canada)		0.40	%	09/15/2023		12,500		12,311,415
Bank of Montreal (Canada), Series H		4.25	%	09/14/2024		15,152		14,910,589
Bank of Montreal (Canada)		5.20	%	12/12/2024		13,333		13,281,199
Bank of Montreal (Canada) (SOFR + 0.71%)(d)		5.59	%	03/08/2024		13,044		13,054,927
Banque Federative du Credit Mutuel S.A. (France)(c)		3.75	%	07/20/2023		7,100		7,077,274
Canadian Imperial Bank of Commerce (Canada)		0.45	%	06/22/2023		15,000		14,957,208
Canadian Imperial Bank of Commerce (Canada)		0.95	%	06/23/2023		17,045		16,998,942
Commonwealth Bank of Australia (Australia)		5.08	%	01/10/2025		10,000		10,027,400
Commonwealth Bank of Australia (Australia) (SOFR + 0.75%)(c)(d)		5.65	%	03/13/2026		19,512		19,479,047
Cooperatieve Rabobank U.A. (Netherlands)		5.00	%	01/13/2025		19,762		19,732,362
HSBC Holdings PLC (United Kingdom)(b)		0.73	%	08/17/2024		11,407		11,268,894
ING Groep N.V. (Netherlands)		3.55	%	04/09/2024		1,300		1,273,561
ING Groep N.V. (Netherlands)		4.10	%	10/02/2023		14,025		13,928,887
KeyCorp(b)		3.88	%	05/23/2025		18,316		16,676,589
Lloyds Bank Corporate Markets PLC (United Kingdom) (SOFR + 0.54%)(d)		5.61	%	01/31/2024		15,000		15,004,014
Lloyds Banking Group PLC (United Kingdom)		4.05	%	08/16/2023		26,365		26,266,233
Mitsubishi UFJ Financial Group, Inc. (Japan)		2.53	%	09/13/2023		5,892		5,840,614
Mitsubishi UFJ Financial Group, Inc. (Japan)		3.41	%	03/07/2024		15,000		14,746,519
Mitsubishi UFJ Financial Group, Inc. (Japan)		3.76	%	07/26/2023		10,955		10,920,525

See accompanying notes which are an integral part of this schedule.

Invesco Conservative Income Fund

	Interest Rate			Maturity Date		Principal Amount (000)		Value
Diversified Banks-(continued)
Mizuho Bank Ltd. (Japan)(c)		3.60	%		09/25/2024	$	13,000	$	12,702,709
National Australia Bank Ltd. (Australia)		4.97	%		01/12/2026		13,334		13,388,988
National Securities Clearing Corp.(c)		5.15	%		05/30/2025		3,146		3,154,811
Royal Bank of Canada (Canada)		3.97	%		07/26/2024		20,000		19,668,277
Skandinaviska Enskilda Banken AB (Sweden)(c)		0.55	%		09/01/2023		13,515		13,328,763
Sumitomo Mitsui Financial Group, Inc. (Japan)		0.51	%		01/12/2024		1,364		1,322,490
Sumitomo Mitsui Trust Bank Ltd. (Japan)(c)		0.80	%		09/12/2023		11,103		10,956,471
Sumitomo Mitsui Trust Bank Ltd. (Japan)(c)		2.55	%		03/10/2025		5,122		4,867,970
Svenska Handelsbanken AB (Sweden)(c)		0.63	%		06/30/2023		11,429		11,386,432
Swedbank AB (Sweden)(c)		0.60	%		09/25/2023		12,121		11,924,884
Swedbank AB (Sweden)(c)		1.30	%		06/02/2023		12,000		12,000,000
Toronto-Dominion Bank (The) (Canada)		0.75	%		06/12/2023		15,000		14,979,535
Wells Fargo & Co.		3.75	%		01/24/2024		14,890		14,725,701
									446,004,118
Diversified Capital Markets-1.46%
Macquarie Group Ltd. (Australia)(c)		6.21	%		11/22/2024		30,000		30,216,374
UBS AG (Switzerland)(c)		0.70	%		08/09/2024		5,722		5,388,179
									35,604,553
Diversified Financial Services-0.30%
Corebridge Global Funding(c)		0.80	%		07/07/2023		7,317		7,271,249
Electric Utilities-0.85%
American Electric Power Co., Inc., Series M		0.75	%		11/01/2023		4,557		4,465,727
NextEra Energy Capital Holdings, Inc.		4.26	%		09/01/2024		7,456		7,343,846
NextEra Energy Capital Holdings, Inc.		6.05	%		03/01/2025		5,768		5,834,516
Tampa Electric Co.		3.88	%		07/12/2024		3,188		3,138,313
									20,782,402
Electronic Components-0.11%
Amphenol Corp.		4.75	%		03/30/2026		2,746		2,735,027
Food Retail-0.36%
7-Eleven, Inc.(c)		0.80	%		02/10/2024		9,000		8,680,704
Health Care Distributors-0.47%
McKesson Corp.		3.80	%		03/15/2024		11,593		11,429,936
Health Care Equipment-0.40%
Boston Scientific Corp.		3.45	%		03/01/2024		10,000		9,829,005
Health Care REITs-0.50%
Welltower OP LLC		3.63	%		03/15/2024		12,500		12,256,944
Health Care Services-0.72%
Cigna Group (The)		5.69	%		03/15/2026		17,369		17,465,861
Home Improvement Retail-0.28%
Lowe`s Cos., Inc.		4.80	%		04/01/2026		6,766		6,751,736
Integrated Telecommunication Services-0.84%
AT&T, Inc. (SOFR + 0.64%)(d)		5.62	%		03/25/2024		9,918		9,918,175
Verizon Communications, Inc. (SOFR + 0.50%)(d)		5.46	%		03/22/2024		10,417		10,409,866
									20,328,041

See accompanying notes which are an integral part of this schedule.

Invesco Conservative Income Fund

	Interest Rate			Maturity Date	Principal Amount (000)		Value
Investment Banking & Brokerage-2.07%
Goldman Sachs Group, Inc. (The)		3.00	%	03/15/2024	$	14,084	$	13,797,710
Goldman Sachs Group, Inc. (The)		5.70	%	11/01/2024		5,830		5,846,374
Morgan Stanley(b)		3.62	%	04/17/2025		12,230		11,985,477
Morgan Stanley (SOFR + 0.47%)(d)		5.57	%	11/10/2023		7,999		7,997,510
Morgan Stanley (SOFR + 0.63%)(d)		5.69	%	01/24/2025		10,844		10,796,055
								50,423,126
Life & Health Insurance-9.06%
Athene Global Funding(c)		0.95	%	01/08/2024		10,000		9,645,690
Athene Global Funding(c)		2.75	%	06/25/2024		7,772		7,413,067
Athene Global Funding (SOFR + 0.70%)(c)(d)		5.80	%	05/24/2024		25,000		24,715,242
Brighthouse Financial Global Funding(c)		0.60	%	06/28/2023		3,255		3,235,343
Brighthouse Financial Global Funding(c)		1.75	%	01/13/2025		12,728		11,921,754
Equitable Financial Life Global Funding(c)		0.50	%	11/17/2023		14,500		14,159,987
Equitable Financial Life Global Funding(c)		0.80	%	08/12/2024		11,429		10,805,762
GA Global Funding Trust(c)		0.80	%	09/13/2024		10,909		10,195,099
Jackson National Life Global Funding(c)		5.50	%	01/09/2026		21,667		21,397,925
Jackson National Life Global Funding (SOFR + 1.15%)(c)(d)		6.14	%	06/28/2024		10,450		10,454,574
MassMutual Global Funding II (SOFR + 0.36%)(c)(d)		5.39	%	04/12/2024		10,020		9,996,916
MetLife, Inc.		3.60	%	04/10/2024		15,000		14,772,876
New York Life Global Funding(c)		3.15	%	06/06/2024		9,524		9,315,629
Pacific Life Global Funding II(c)		0.50	%	09/23/2023		13,636		13,401,671
Principal Life Global Funding II(c)		0.75	%	08/23/2024		13,695		12,893,560
Principal Life Global Funding II (SOFR + 0.45%)(c)(d)		5.48	%	04/12/2024		5,883		5,886,949
Protective Life Global Funding(c)		0.63	%	10/13/2023		4,082		4,002,617
Protective Life Global Funding(c)		1.08	%	06/09/2023		15,500		15,485,062
Protective Life Global Funding(c)		5.37	%	01/06/2026		10,339		10,421,034
								220,120,757
Life Sciences Tools & Services-0.67%
Thermo Fisher Scientific, Inc.		0.80	%	10/18/2023		13,208		12,972,548
Thermo Fisher Scientific, Inc.		1.22	%	10/18/2024		3,600		3,416,270
								16,388,818
Managed Health Care-0.49%
Humana, Inc.		0.65	%	08/03/2023		3,889		3,861,926
Humana, Inc.		5.70	%	03/13/2026		7,921		7,947,582
								11,809,508
Multi-line Insurance-0.71%
Metropolitan Life Global Funding I(c)		5.00	%	01/06/2026		17,242		17,184,336
Office REITs-0.61%
Boston Properties L.P.		3.80	%	02/01/2024		15,000		14,723,149
Oil & Gas Exploration & Production-0.61%
Canadian Natural Resources Ltd. (Canada)		3.80	%	04/15/2024		15,000		14,738,236
Oil & Gas Refining & Marketing-0.31%
Phillips 66		0.90	%	02/15/2024		7,814		7,559,948
Oil & Gas Storage & Transportation-2.28%
Enbridge, Inc. (Canada) (SOFR + 0.63%)(d)		5.73	%	02/16/2024		5,756		5,747,287
Enbridge, Inc. (Canada)		5.97	%	03/08/2026		25,049		25,153,227
Kinder Morgan Energy Partners L.P.		4.30	%	05/01/2024		19,180		18,921,863
Williams Cos., Inc. (The)		5.40	%	03/02/2026		5,495		5,541,978
								55,364,355
Paper Products-0.49%
Georgia-Pacific LLC(c)		3.73	%	07/15/2023		11,850		11,819,533

See accompanying notes which are an integral part of this schedule.

Invesco Conservative Income Fund

	Interest Rate			Maturity Date		Principal Amount (000)		Value
Personal Care Products-0.27%
Unilever Capital Corp.		0.63	%		08/12/2024	$	7,000	$	6,632,026
Pharmaceuticals-1.91%
Bayer US Finance II LLC(c)		3.88	%		12/15/2023		9,000		8,906,409
Bristol-Myers Squibb Co.		0.54	%		11/13/2023		12,500		12,235,327
Eli Lilly and Co.		5.00	%		02/27/2026		10,257		10,286,743
Pfizer Investment Enterprises Pte. Ltd.		4.65	%		05/19/2025		15,054		15,027,291
									46,455,770
Restaurants-0.26%
Starbucks Corp. (SOFR + 0.42%)(d)		5.52	%		02/14/2024		6,318		6,318,148
Retail REITs-0.15%
Realty Income Corp.		5.05	%		01/13/2026		3,687		3,664,416
Self-Storage REITs-0.42%
Public Storage (SOFR + 0.47%)(d)		5.53	%		04/23/2024		10,257		10,242,132
Semiconductors-0.82%
NVIDIA Corp.		0.31	%		06/15/2023		20,000		19,964,138
Soft Drinks & Non-alcoholic Beverages-0.91%
Keurig Dr Pepper, Inc.		0.75	%		03/15/2024		18,500		17,822,179
PepsiCo, Inc.		0.40	%		10/07/2023		4,278		4,201,699
									22,023,878
Specialized Finance-0.37%
Siemens Financieringsmaatschappij N.V. (SOFR + 0.43%)(c)(d)		5.33	%		03/11/2024		8,905		8,920,098
Specialty Chemicals-0.19%
Sherwin-Williams Co. (The)		4.05	%		08/08/2024		4,807		4,727,743
Technology Hardware, Storage & Peripherals-1.03%
Apple, Inc.		4.42	%		05/08/2026		25,000		25,064,355
Transaction & Payment Processing Services-0.40%
PayPal Holdings, Inc.		1.35	%		06/01/2023		9,687		9,687,000
Wireless Telecommunication Services-0.73%
Vodafone Group PLC (United Kingdom)		3.75	%		01/16/2024		18,000		17,787,301
Total U.S. Dollar Denominated Bonds & Notes (Cost $1,373,003,029)									1,357,655,177
Commercial Paper-20.37%(e)
Asset Management & Custody Banks-0.60%
BofA Securities, Inc.		5.71	%		11/03/2023		15,000		14,643,475
Consumer Finance-0.70%
General Motors Financial Co., Inc.(c)		4.27	%		06/06/2023		17,000		16,984,657
Diversified Banks-8.83%
Bank of Montreal		4.97	%		10/05/2023		15,500		15,460,592
Barclays Bank PLC		5.13	%		01/26/2024		15,000		14,437,028
Barclays Capital, Inc.		5.41	%		02/02/2024		13,000		12,507,468
BPCE S.A. (France)(c)		5.49	%		01/09/2024		20,000		19,313,532
DNB Bank ASA (Norway)(c)		5.29	%		02/06/2024		7,000		6,732,887
DNB Bank ASA (Norway)(c)		5.29	%		02/08/2024		10,000		9,615,299
HSBC USA, Inc.(c)		5.64	%		02/01/2024		20,000		19,231,250
Mizuho Bank Ltd.(c)		5.17	%		02/01/2024		20,000		19,245,600
NatWest Markets PLC (United Kingdom); Series G(c)		5.67	%		02/12/2024		30,000		28,776,466
Societe Generale S.A. (France)(c)		5.60	%		11/14/2023		20,000		19,493,341
Toronto-Dominion Bank (The) (Canada)(c)		5.00	%		09/26/2023		14,000		13,751,282
Westpac Banking Corp. (Australia)(c)		4.24	%		08/30/2023		20,000		19,729,477

See accompanying notes which are an integral part of this schedule.

Invesco Conservative Income Fund

	Interest Rate		Maturity Date		Principal Amount (000)		Value
Diversified Banks-(continued)
Westpac Banking Corp. (Australia)(c)		5.15%		01/04/2024	$	17,000	$	16,441,320
								214,735,542
Diversified Capital Markets-2.45%
White Plains Capital Co. LLC(c)		5.63%		07/11/2023		20,000		19,876,749
White Plains Capital Co. LLC(c)		5.70%		07/18/2023		20,000		19,855,280
White Plains Capital Co. LLC(c)		5.68%		08/02/2023		20,000		19,808,515
								59,540,544
Diversified Financial Services-0.82%
Brookfield Corporate Treasury Ltd. (Canada)(c)		5.96%		07/26/2023		20,000		19,812,750
Electric Utilities-0.41%
Enel Finance America LLC(c)		7.00%		09/06/2023		10,000		9,826,921
Industrial Conglomerates-1.19%
3M Co.(c)		5.34%		02/05/2024		30,000		28,884,375
Integrated Oil & Gas-0.81%
Suncor Energy, Inc. (Canada)(c)		5.68%		08/10/2023		20,000		19,780,531
Integrated Telecommunication Services-2.51%
AT&T, Inc.(c)		5.61%		11/21/2023		15,000		14,579,572
AT&T, Inc.(c)		5.68%		12/19/2023		20,000		19,346,306
AT&T, Inc.(c)		5.93%		03/19/2024		10,000		9,518,341
TELUS Corp. (Canada)(c)		5.67%		10/20/2023		18,000		17,591,253
								61,035,472
Oil & Gas Storage & Transportation-0.09%
Energy Transfer L.P.		5.75%		06/01/2023		2,200		2,199,668
Pharmaceuticals-0.77%
Bayer Corp.(c)		6.00%		08/07/2023		19,000		18,808,138
Telecom Tower REITs-0.37%
Crown Castle, Inc.(c)		5.88%		06/08/2023		9,000		8,989,110
Transaction & Payment Processing Services-0.82%
Global Payments, Inc.		5.94%		06/07/2023		20,000		19,977,581
Total Commercial Paper (Cost $496,006,653)								495,218,764
Asset-Backed Securities-13.12%
Auto Loans/Leases-10.38%
Capital One Prime Auto Receivables Trust; Series 2022-2, Class A2A		3.74%		09/15/2025		7,754		7,668,078
CarMax Auto Owner Trust;
Series 2022-3, Class A2A		3.81%		09/15/2025		8,186		8,108,204
Series 2023-2, Class A2A		5.50%		06/15/2026		9,000		8,966,284
Chase Auto Owner Trust; Series 2022-AA, Class A2(c)		3.86%		10/27/2025		5,658		5,605,939
Chesapeake Funding II LLC;
Series 2020-1A, Class A2 (1 mo. USD LIBOR + 0.65%)(c)(d)		5.76%		08/15/2032		1,356		1,355,720
Series 2023-1A, Class A1(c)		5.65%		05/15/2035		6,492		6,470,108
Daimler Trucks Retail Trust; Series 2022-1, Class A2		5.07%		09/16/2024		11,135		11,085,116
DLLAD LLC; Series 2023-1A, Class A2(c)		5.19%		04/20/2026		5,250		5,209,290
Enterprise Fleet Financing LLC; Series 2020-2, Class A2(c)		0.61%		07/20/2026		4,302		4,228,178
Ford Credit Auto Lease Trust; Series 2023-A, Class A2A		5.19%		06/15/2025		5,250		5,226,748
Ford Credit Auto Owner Trust; Series 2018-2, Class A(c)		3.47%		01/15/2030		18,000		17,956,924
GM Financial Automobile Leasing Trust;
Series 2022-3, Class A2A		4.01%		10/21/2024		4,988		4,954,730
Series 2023-1, Class A2A		5.27%		06/20/2025		5,000		4,980,930
Series 2023-2, Class A2B (SOFR + 0.82%)(d)		5.73%		10/20/2025		3,000		3,008,156
GreatAmerica Leasing Receivables; Series 2023-1, Class A2(c)		5.35%		02/16/2026		6,500		6,478,961

See accompanying notes which are an integral part of this schedule.

Invesco Conservative Income Fund

	Interest Rate		Maturity Date		Principal Amount (000)		Value
Auto Loans/Leases-(continued)
Hyundai Auto Lease Securitization Trust;
Series 2023-A, Class A2A(c)		5.20%		04/15/2025		$         6,000	$	5,974,763
Series 2023-B, Class A2A(c)		5.47%		09/15/2025		3,750		3,739,126
Hyundai Auto Receivables Trust;
Series 2022-B, Class A2A		3.64%		05/15/2025		7,350		7,278,190
Series 2022-C, Class A2A		5.35%		11/17/2025		11,000		10,962,535
John Deere Owner Trust;
Series 2022-B, Class A2		3.73%		06/16/2025		6,007		5,949,498
Series 2022-C, Class A2		4.98%		08/15/2025		10,678		10,631,555
Mercedes-Benz Auto Lease Trust; Series 2023-A, Class A2		5.24%		11/17/2025		6,800		6,768,779
Mercedes-Benz Auto Receivables Trust;
Series 2022-1, Class A2		5.26%		10/15/2025		7,409		7,389,487
Series 2023-1, Class A2		5.09%		01/15/2026		4,190		4,172,703
Nissan Auto Lease Trust;
Series 2022-A, Class A2A		3.45%		08/15/2024		8,805		8,761,003
Series 2023-A, Class A2A		5.10%		03/17/2025		5,000		4,972,656
Nissan Auto Receivables Owner Trust; Series 2023-A, Class A2A		5.34%		02/17/2026		5,000		4,988,474
Porsche Financial Auto Securitization Trust; Series 2023-1A, Class A2(c)		5.42%		12/22/2026		16,500		16,443,006
Toyota Auto Receivables Owner Trust;
Series 2022-C, Class A2A		3.83%		08/15/2025		3,890		3,850,684
Series 2022-D, Class A2A		5.27%		01/15/2026		4,432		4,417,787
Volkswagen Auto Lease Trust; Series 2022-A, Class A3		3.44%		07/21/2025		15,000		14,697,407
Wheels SPV 2 LLC; Series 2020-1A, Class A2(c)		0.51%		08/20/2029		336		334,678
World Omni Auto Receivables Trust;
Series 2022-C, Class A2		3.73%		03/16/2026		11,607		11,465,162
Series 2022-D, Class A2A		5.51%		03/16/2026		14,904		14,875,139
World Omni Automobile Lease Securitization Trust; Series 2023-A, Class A2A		5.47%		11/17/2025		3,250		3,241,004
								252,217,002
Equipment Leasing-0.61%
Dell Equipment Finance Trust; Series 2022-2, Class A2(c)		4.03%		07/22/2027		8,877		8,759,815
MMAF Equipment Finance LLC;
Series 2020-A, Class A2(c)		0.74%		04/09/2024		181		180,741
Series 2022-B, Class A2(c)		5.57%		09/09/2025		6,017		5,990,550
								14,931,106
Specialized Finance-2.13%
DLLMT LLC; Series 2023-1A, Class A2(c)		5.78%		11/20/2025		15,000		14,964,813
Navient Private Education Refi Loan Trust;
Series 2020-FA, Class A(c)		1.22%		07/15/2069		7,260		6,498,115
Series 2021-FA, Class A(c)		1.11%		02/18/2070		3,809		3,241,587
Synchrony Card Funding LLC; Series 2022-A2, Class A		3.86%		07/15/2028		20,000		19,576,882
Verizon Master Trust; Series 2022-5, Class A1A		3.72%		07/20/2027		7,500		7,400,104
								51,681,501
Total Asset-Backed Securities (Cost $322,091,150)								318,829,609
Certificates of Deposit-5.11%
Diversified Banks-5.11%
Natixis S.A.		5.55%		12/07/2023		20,000		19,967,595
Standard Chartered Bank (United Kingdom)		5.53%		12/14/2023		20,000		19,964,606
Standard Chartered Bank (United Kingdom) (SOFR + 0.50%)(d)		5.57%		02/12/2024		24,000		23,996,913
Sumitomo Mitsui Banking Corp. (Japan)		3.00%		07/03/2023		45,300		45,211,162
Wells Fargo Bank N.A. (SOFR + 0.60%)(d)		5.75%		05/10/2024		15,000		14,998,930
Total Certificates of Deposit (Cost $124,300,000)								124,139,206
U.S. Treasury Securities-2.22%
U.S. Treasury Notes-2.22%
U.S. Treasury Notes		3.88%		03/31/2025		15,000		14,827,734
U.S. Treasury Notes		3.88%		04/30/2025		20,000		19,783,594

See accompanying notes which are an integral part of this schedule.

Invesco Conservative Income Fund

	Interest Rate			Maturity Date		Principal Amount (000)		Value
U.S. Treasury Notes-(continued)
U.S. Treasury Notes		2.88	%		05/31/2025	$	20,000	$	19,416,797
Total U.S. Treasury Securities (Cost $54,112,411)									54,028,125
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-96.67% (Cost $2,369,513,243)									2,349,870,881
						Repurchase
						Amount
Repurchase Agreements-3.08%(f)
Citigroup Global Markets, Inc., joint open agreement dated 10/19/2022 (collateralized by corporate obligations, non-agency asset-backed securities and non-agency mortgage-backed securities valued at $216,589,847; 0.00% - 9.38%; 04/15/2024 - 05/15/2051)(g)		5.76	%		06/01/2023		30,148,150		30,000,000
J.P. Morgan Securities LLC, joint open agreement dated 06/11/2021 (collateralized by corporate obligations valued at $82,500,000; 0.00% - 13.00%; 06/30/2023 -11/15/2048)(g)		5.36	%		06/01/2023		45,206,725		45,000,000
Total Repurchase Agreements (Cost $75,000,000)									75,000,000
TOTAL INVESTMENTS IN SECURITIES-99.75% (Cost $2,444,513,243)									2,424,870,881
OTHER ASSETS LESS LIABILITIES-0.25%									5,958,270
NET ASSETS-100.00%								$	2,430,829,151

Investment Abbreviations:

LIBOR	– London Interbank Offered Rate
REITs	– Real Estate Investment Trusts
SOFR	– Secured Overnight Financing Rate
USD	– U.S. Dollar

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 issued at a fixed rate for a specific period of time, after which it will convert to a variable rate.

^(c)  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 May 31, 2023 was $1,013,033,318, which represented 41.67% of the Fund’s Net Assets.

^(d)  Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on May 31, 2023.

^(e)  Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.

^(f)  Principal amount equals value at period end.

^(g)  Either party may terminate the agreement upon demand. Interest rates, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

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 Conservative Income Fund

Notes to Quarterly Schedule of Portfolio Holdings

May 31, 2023

(Unaudited)

NOTE 1–Additional Valuation Information

Generally Accepted Accounting Principles (“GAAP”) defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment’s assigned level:

Level 1 –	Prices are determined using quoted prices in an active market for identical assets.
Level 2 –	Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.
Level 3 –	Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect Invesco 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.

As of May 31, 2023, all of the securities in this Fund were valued based on Level 2 inputs (see the Schedule of Investments for security categories). 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.

Invesco Conservative Income Fund