Invesco Dynamic Credit Opportunity Fund NPORT-P Invesco Dynamic Credit Opportunity Fund (May 2023 report)

Consolidated Schedule of Investments

May 31, 2023

(Unaudited)

	Interest Rate			Maturity Date		Principal Amount (000)(a)				Value
Variable Rate Senior Loan Interests–87.89%(b)(c)(d)
Aerospace & Defense–7.12%
ADB Safegate (ADBAS/CEP IV) (Luxembourg), Term Loan B (e)		-			10/03/2026		EUR		2,000	$	1,917,789
Brown Group Holding LLC (Signature Aviation US Holdings, Inc.), Incremental Term Loan B-2 (1 mo. SOFR + 3.75%)		9.01	%		07/02/2029			$	1,189		1,174,018
FDH Group Acquisition, Inc., Term Loan A (3 mo. SOFR + 7.00%)(f)(g)		12.05	%		10/01/2025				22,359		22,001,511
IAP Worldwide Services, Inc., Second Lien Term Loan (3 mo. USD LIBOR + 6.50%) (Acquired 07/22/2014-08/18/2014; Cost $1,551,739)(g)(h)		11.66	%		07/18/2023				1,553		1,552,949
NAC Aviation 8 Ltd. (Ireland)
Revolver Loan(g)(i)		0.00	%		12/31/2026				1,642		1,642,458
Term Loan (1 mo. USD LIBOR + 4.11%)(g)		9.02	%		12/31/2026				1,814		0
Term Loan (1 mo. USD LIBOR + 4.00%)(g)		9.14	%		12/31/2026				1,775		0
											28,288,725
Automotive–7.99%
Constellation Auto (CONSTE/BCA) (United Kingdom)
First Lien Term Loan B-2 (6 mo. SONIA + 4.75%)		8.18	%		07/28/2028		GBP		1,054		1,131,931
Second Lien Term Loan B-1 (6 mo. SONIA + 7.50%)		11.43	%		07/27/2029		GBP		4,668		3,181,772
Muth Mirror Systems LLC
Revolver Loan (3 mo. USD LIBOR + 6.75%)(f)(g)		11.89	%		04/23/2025				1,677		1,544,701
Term Loan (3 mo. USD LIBOR + 6.75%)(f)(g)		11.86	%		04/23/2025				18,811		17,324,786
Transtar Industries, Inc., Term Loan A (3 mo. SOFR + 7.25%)(f)(g)		12.66	%		01/22/2027				8,589		8,562,560
											31,745,750
Beverage & Tobacco–0.23%
City Brewing Co. LLC, Term Loan B (1 mo. USD LIBOR + 3.50%)		8.76	%		03/31/2028				1,813		897,646
Building & Development–1.48%
Corialis (United Kingdom), Term Loan B (1 mo. SONIA + 4.40%)		8.86	%		07/06/2028		GBP		677		767,269
CRH Europe Distribution (Netherlands), Term Loan A (3 mo. EURIBOR + 4.25%)		7.02	%		11/29/2025		EUR		768		801,234
Empire Today LLC, Term Loan B (1 mo. USD LIBOR + 5.00%)		10.11	%		04/01/2028				534		409,309
LBM Holdings LLC, First Lien Term Loan (1 mo. USD LIBOR + 3.75%)		8.90	%		12/17/2027				126		115,906
LHS Borrow LLC (Leaf Home Solutions), Term Loan (1 mo. SOFR + 4.75%)		10.00	%		02/16/2029				2,098		1,636,042
Mayfair Mall LLC, Term Loan (1 mo. SONIA + 3.25%)(g)		8.55	%		04/20/2024		GBP		921		838,123
Modulaire (BCP-V Modular/Algeco) (United Kingdom), Term Loan B (3 mo. EURIBOR + 4.50%)		7.52	%		12/15/2028		EUR		1,295		1,314,049
											5,881,932
Business Equipment & Services–14.00%
Allied Universal Holdco LLC (USAGM Holdco LLC/UNSEAM), Term Loan (3 mo. EURIBOR + 3.75%)		6.95	%		05/12/2028		EUR		95		96,390
Checkout Holding Corp., Term Loan (1 mo. USD LIBOR + 10.00%)(g)		12.00	%		06/30/2023				1		245
CRCI Longhorn Holdings, Inc., Second Lien Term Loan (1 mo. USD LIBOR + 7.25%)		12.50	%		08/08/2026				86		80,846
CV Intermediate Holdco Corp. (Class Valuation)
Delayed Draw Term Loan (3 mo. SOFR + 6.25%)(f)(g)		11.45	%		03/31/2026				8,105		7,683,558
Revolver Loan (3 mo. SOFR + 6.25%)(f)(g)		11.49	%		03/31/2026				725		687,757
Revolver Loan(f)(g)(i)		0.00	%		03/31/2026				536		508,342
Term Loan B (3 mo. SOFR + 6.25%)(f)(g)		11.45	%		03/31/2026				8,346		7,912,192
Dun & Bradstreet Corp. (The)
Revolver Loan(e)(g)		-			09/11/2025				561		552,753
Revolver Loan(g)(i)		0.00	%		09/11/2025				3,253		3,205,968
Lamark Media Group LLC
Delayed Draw Term Loan (6 mo. SOFR + 5.75%)(f)(g)		10.71	%		10/14/2027				1,524		1,479,916
Revolver Loan (3 mo. SOFR + 5.75%)(f)(g)		10.92	%		10/14/2027				764		741,812
Revolver Loan(f)(g)(i)		0.00	%		10/14/2027				255		247,271
Term Loan B (3 mo. SOFR + 5.75%)(f)(g)		10.71	%		10/14/2027				7,041		6,837,039

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

Invesco Dynamic Credit Opportunity Fund

	Interest Rate			Maturity Date		Principal Amount (000)(a)				Value
Business Equipment & Services–(continued)
Monitronics International, Inc.
DIP Term Loan A (1 mo. SOFR + 7.00%)(g)		12.33	%		06/27/2023			$	2,970	$	2,925,453
DIP Term Loan B (1 mo. SOFR + 7.00%)(g)		12.33	%		11/17/2023				995		979,690
Term Loan (Acquired 08/30/2019-01/28/2021; Cost $7,485,609)(h)(j)(k)		0.00	%		03/29/2024				7,840		4,062,564
NAS LLC (d.b.a. Nationwide Marketing Group)
Revolver Loan (3 mo. SOFR + 6.50%)(f)(g)		11.55	%		06/03/2024				184		182,064
Revolver Loan(f)(g)(i)		0.00	%		06/03/2024				736		728,257
Term Loan (3 mo. SOFR + 6.50%)(f)(g)		11.55	%		06/03/2024				8,829		8,741,145
Term Loan (3 mo. SOFR + 6.50%)(f)(g)		11.55	%		06/03/2024				2,765		2,737,556
Term Loan (3 mo. SOFR + 6.50%)(f)(g)		11.55	%		06/03/2024				1,677		1,660,576
Protect America
Revolver Loan(e)(g)		-			09/01/2024				1,300		1,208,597
Revolver Loan(g)(i)		0.00	%		09/01/2024				87		80,872
Solera (Polaris Newco LLC), Term Loan B (1 mo. SONIA + 5.25%)		9.68	%		06/05/2028		GBP		1,376		1,479,071
UnitedLex Corp., Term Loan (3 mo. SOFR + 5.75%)(g)		11.05	%		03/20/2027				937		819,965
Verra Mobility Corp., Term Loan B (1 mo. SOFR + 3.25%)		8.52	%		03/19/2028				2		2,320
											55,642,219
Cable & Satellite Television–4.98%
CSC Holdings LLC, Term Loan B (1 mo. SOFR + 4.50%)		9.56	%		01/15/2028				1		240
Lightning Finco Ltd. (LiveU) (United Kingdom)
Term Loan B-1 (3 mo. USD LIBOR + 5.75%)(f)(g)		11.23	%		08/31/2028				18,375		17,640,140
Term Loan B-2 (3 mo. USD LIBOR + 5.75%)(f)(g)		11.23	%		08/31/2028				2,227		2,160,471
											19,800,851
Chemicals & Plastics–1.83%
Colouroz Investment LLC (Germany)
First Lien Term Loan C (3 mo. EURIBOR + 0.75%)		0.75	%		09/21/2023		EUR		1		187
PIK Second Lien Term Loan B-2, 5.75% PIK Rate, 9.52% Cash Rate(l)		5.75	%		09/21/2024				32		13,916
Vertellus
Revolver Loan ( 1 mo. SOFR + 5.75%)(f)(g)		10.89	%		12/22/2025				255		239,756
Revolver Loan(f)(g)(i)		0.00	%		12/22/2025				441		413,754
Term Loan B (6 mo. SOFR + 5.75%)(f)(g)		10.84	%		12/22/2027				6,879		6,603,384
											7,270,997
Conglomerates–0.13%
Safe Fleet Holdings LLC
First Lien Incremental Term Loan (1 mo. SOFR + 5.00%)(g)		10.19	%		02/23/2029				245		243,575
Second Lien Term Loan (3 mo. USD LIBOR + 6.75%)		11.91	%		02/02/2026				297		274,497
											518,072
Containers & Glass Products–5.94%
Keg Logistics LLC
Revolver Loan (3 mo. USD LIBOR + 6.00%)(f)(g)		11.32	%		11/23/2027				1,366		1,299,305
Revolver Loan(f)(g)(i)		0.00	%		11/23/2027				496		471,430
Term Loan A (3 mo. USD LIBOR + 6.00%)(f)(g)		11.32	%		11/23/2027				21,193		20,154,941
Keter Group B.V. (Netherlands), Term Loan B-1 (3 mo. EURIBOR + 4.25%) (Acquired 04/29/2022; Cost $1,840,357)(h)		7.49	%		10/31/2023		EUR		1,763		1,605,273
Mold-Rite Plastics LLC (Valcour Packaging LLC), Second Lien Term Loan (1 mo. USD LIBOR + 7.00%)		12.09	%		10/04/2029				123		75,855
											23,606,804
Ecological Services & Equipment–0.23%
TruGreen L.P., Second Lien Term Loan (1 mo. USD LIBOR + 8.50%)(g)		13.77	%		11/02/2028				1,509		913,078
Electronics & Electrical–4.82%
Boxer Parent Co., Inc., Term Loan B (1 mo. EURIBOR + 4.00%)		7.20	%		10/02/2025		EUR		131		139,090
GoTo Group, Inc. (LogMeIn), First Lien Term Loan (1 mo. USD LIBOR + 4.75%)		9.90	%		08/31/2027				2,978		1,830,591
Imperva, Inc., Second Lien Term Loan (3 mo. USD LIBOR + 7.75%)		13.13	%		01/11/2027				1,502		1,191,456
Infinite Electronics, Second Lien Term Loan (3 mo. USD LIBOR + 7.00%)		12.16	%		03/02/2029				473		409,560

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

Invesco Dynamic Credit Opportunity Fund

	Interest Rate			Maturity Date		Principal Amount (000)(a)				Value
Electronics & Electrical–(continued)
Learning Pool (Brook Bidco Ltd.) (United Kingdom)
Term Loan (3 mo. SONIA + 6.87%)(g)		11.04	%		08/17/2028		GBP		525	$	639,579
Term Loan (3 mo. USD LIBOR + 7.01%)(g)		12.02	%		08/17/2028			$	663		633,385
Mavenir Systems, Inc., Term Loan B (3 mo. USD LIBOR + 4.75%)		10.14	%		08/13/2028				1,725		1,404,207
Natel Engineering Co., Inc., Term Loan (3 mo. USD LIBOR + 6.25%) (Acquired 04/25/2019-03/24/2021; Cost $3,677,484)(h)		11.41	%		04/29/2026				3,475		3,092,816
Native Instruments (Germany), Term Loan (3 mo. EURIBOR + 5.50%)(g)		8.85	%		03/03/2028		EUR		1,267		1,257,783
Philips Domestic Appliances (Nobel Bidco) (Netherlands), Term Loan B(e)		-			06/23/2028		EUR		2,000		1,995,647
Quest Software US Holdings, Inc., Second Lien Term Loan (3 mo. SOFR + 7.50%)		12.70	%		01/20/2030				219		159,003
Riverbed Technology, Inc., PIK Term Loan, 2.00% PIK Rate, 11.33% Cash Rate(l)		2.00	%		12/07/2026				3,889		1,044,179
Sandvine Corp., Second Lien Term Loan (1 mo. SOFR + 8.00%)		13.15	%		11/02/2026				322		281,877
Utimaco (Germany)
Term Loan B-1 (3 mo. EURIBOR + 6.25%)(g)		9.71	%		05/31/2029		EUR		2,932		3,039,841
Term Loan B-2 (3 mo. SOFR + 6.25%)(g)		11.56	%		05/31/2029				1,645		1,569,791
Veritas US, Inc., Term Loan B (3 mo. USD LIBOR + 5.00%)		10.15	%		09/01/2025				614		465,677
											19,154,482
Food Products–7.28%
Biscuit Hld S.A.S.U. (BISPOU/Cookie Acq) (France), First Lien Term Loan (6 mo. EURIBOR + 4.00%)		7.27	%		02/15/2027		EUR		4,013		3,639,194
BrightPet (AMCP Pet Holdings, Inc.)
Incremental Term Loan B (3 mo. USD LIBOR + 6.25%)(f)(g)		11.41	%		10/05/2026				4,228		3,927,509
Revolver Loan (3 mo. USD LIBOR + 6.25%)(f)(g)		11.55	%		10/05/2026				1,346		1,250,223
Revolver Loan(f)(g)(i)		0.00	%		10/05/2026				120		111,660
Term Loan (3 mo. SOFR + 7.00%)(f)(g)		11.41	%		10/05/2026				4,112		3,820,171
Florida Food Products LLC, Second Lien Term Loan (1 mo. USD LIBOR + 8.00%)(g)		13.15	%		10/08/2029				1,028		847,861
H-Food Holdings LLC
Incremental Term Loan B-3 (3 mo. USD LIBOR + 5.00%)		10.58	%		05/23/2025				156		129,013
Term Loan (3 mo. USD LIBOR + 3.69%)		9.27	%		05/23/2025				19		15,444
Shearer’s Foods LLC, Second Lien Term Loan (1 mo. USD LIBOR + 7.75%)(g)		13.02	%		09/22/2028				161		150,264
Sigma Bidco B.V. (Netherlands), Term Loan B-2 (3 mo. USD LIBOR + 3.00%)		7.46	%		07/02/2025				155		150,947
Teasdale Foods, Inc., Term Loan (3 mo. USD LIBOR + 6.00%)(f)(g)		11.29	%		12/18/2025				15,998		13,821,991
Valeo Foods (Jersey) Ltd. (Ireland), Term Loan B (6 mo. EURIBOR + 4.00%)		7.24	%		09/29/2028		EUR		1,162		1,053,771
											28,918,048
Food Service–1.36%
Financiere Pax S.A.S., Term Loan B (6 mo. EURIBOR + 4.75%)		7.19	%		07/01/2026		EUR		5,512		5,411,314
Health Care–7.43%
Acacium (Impala Bidco Ltd./ICS US, Inc.) (United Kingdom), Incremental Term Loan B (1 mo. SOFR + 4.50%)		9.65	%		06/08/2028				955		914,616
MB2 Dental Solutions LLC
Delayed Draw Term Loan (1 mo. SOFR + 6.00%)(f)(g)		11.25	%		01/29/2027				3,111		3,055,265
Delayed Draw Term Loan (1 mo. SOFR + 6.00%)(f)(g)		11.25	%		01/29/2027				8,634		8,478,847
Term Loan B (1 mo. SOFR + 6.00%)(f)(g)		11.25	%		01/29/2027				8,651		8,495,269
MedAssets Software Intermediate Holdings, Inc. (nThrive TSG), Second Lien Term Loan (1 mo. USD LIBOR + 6.75%)(g)		11.90	%		12/17/2029				638		382,730
SDB Holdco LLC (Specialty Dental Brands)
Delayed Draw Term Loan (1 mo. SOFR + 7.00%)(g)		12.09	%		03/17/2027				3,134		3,071,201
Term Loan (1 mo. SOFR + 7.00%)(f)(g)		12.09	%		03/17/2027				4,838		4,740,942
Women’s Care Holdings, Inc. LLC, Second Lien Term Loan (1 mo. USD LIBOR + 8.25%)		13.40	%		01/15/2029				431		381,645
											29,520,515
Home Furnishings–1.67%
Hilding Anders AB (Sweden)
PIK Term Loan; 12.00% PIK Rate, 2.84% Cash Rate(g)(l)		12.00	%		12/31/2024		EUR		38		4
Term Loan(e)(g)		-			12/31/2024		EUR		5,480		586
Term Loan (6 mo. EURIBOR + 5.00%)(g)		8.65	%		02/28/2026		EUR		4,912		3,439,398
Term Loan (6 mo. EURIBOR + 10.00%)(g)		13.62	%		12/31/2026		EUR		374		361,217
Term Loan (6 mo. EURIBOR + 12.00%)(g)		12.00	%		02/26/2027		EUR		4,702		0

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

Invesco Dynamic Credit Opportunity Fund

	Interest Rate		Maturity Date		Principal Amount (000)(a)				Value
Home Furnishings–(continued)
Serta Simmons Bedding LLC
First Lien Term Loan(j)(k)		0.00%		08/10/2023			$	1,268	$	1,268,096
Second Lien Term Loan(j)(k)		0.00%		08/10/2023				2,706		1,510,901
Weber-Stephen Products LLC, Incremental Term Loan B (1 mo. SOFR + 4.25%)		9.50%		10/30/2027				73		64,003
										6,644,205
Industrial Equipment–2.75%
Deliver Buyer, Inc. (MHS Holdings), Term Loan B (3 mo. SOFR + 5.50%)		10.40%		06/08/2029				1,670		1,465,250
DXP Enterprises, Inc., Term Loan (6 mo. SOFR + 5.25%)		10.44%		12/23/2027				608		607,576
Engineered Machinery Holdings, Inc., Second Lien Incremental Term Loan (3 mo. USD LIBOR + 6.00%)		11.16%		05/21/2029				207		190,000
Kantar (Summer BC Bidco) (United Kingdom)
Revolver Loan (1 mo. USD LIBOR + 3.50%)(g)		8.46%		06/04/2026				660		597,002
Revolver Loan(g)(i)		0.00%		06/04/2026				1,506		1,362,982
Term Loan B (3 mo. USD LIBOR + 5.00%)		9.99%		12/04/2026				1,553		1,431,147
MKS Instruments, Inc., Term Loan B (1 mo. SOFR + 2.75%)		7.95%		08/17/2029				58		57,725
New VAC US LLC, Term Loan B (3 mo. USD LIBOR + 4.00%)		9.16%		03/08/2025				1,249		1,111,368
Robertshaw US Holding Corp.
First Lien Term Loan (1 mo. SOFR + 3.00%)(g)		8.17%		02/28/2027				235		239,868
First Lien Term Loan (3 mo. SOFR + 5.50%)(g)		10.75%		02/28/2027				613		514,943
First Lien Term Loan (3 mo. SOFR + 7.00%)(g)		12.25%		02/28/2027				449		417,731
Tank Holding Corp.
Revolver Loan (1 mo. SOFR + 5.75%)(g)		12.75%		03/31/2028				9		8,294
Revolver Loan(g)(i)		0.00%		03/31/2028				168		157,580
Term Loan (1 mo. SOFR + 5.75%)		12.75%		03/31/2028				2,629		2,543,141
Victory Buyer LLC (Vantage Elevator), Second Lien Term Loan (3 mo. SOFR + 7.00%)(g)		12.13%		11/19/2029				258		208,053
										10,912,660
Leisure Goods, Activities & Movies–7.16%
Parques Reunidos (Piolin Bidco s.a.u) (Spain), Revolver Loan (g)(i)		0.00%		03/16/2026				1,034		1,050,443
Crown Finance US, Inc.
DIP Term Loan (1 mo. SOFR + 10.00%)		15.16%		09/07/2023				4,217		4,293,721
First Lien Term Loan (Acquired 02/27/2020-01/05/2022; Cost $2,575,895)(h)(j)(k)		0.00%		02/28/2025				2,849		641,554
First Lien Term Loan (Acquired 08/28/2020-03/01/2022; Cost $400,739)(h)(j)(k)		0.00%		02/28/2025		EUR		455		109,434
First Lien Term Loan (Acquired 10/18/2019-09/13/2021; Cost $2,584,903)(h)(j)(k)		0.00%		09/30/2026				2,719		612,306
Fitness International LLC, Term Loan B (3 mo. USD LIBOR + 3.25%)		8.45%		04/18/2025				1,106		1,061,834
Parques Reunidos (Piolin Bidco s.a.u) (Spain), Revolver Loan (1 mo. EURIBOR + 3.50%)(g)		6.66%		03/16/2026		EUR		1,425		1,447,249
Royal Caribbean Cruises
Revolver Loan(e)		-		04/05/2024				3,313		3,197,074
Revolver Loan(e)		-		04/12/2024				949		915,326
Revolver Loan(i)		0.00%		04/05/2024				249		240,525
Revolver Loan(i)		0.00%		04/12/2024				265		255,264
Scenic (Columbus Capital B.V.) (Australia), Term Loan (3 mo. EURIBOR + 3.75%)		6.74%		02/27/2027		EUR		1,200		1,048,959
USF S&H Holdco LLC
Term Loan A (3 mo. USD LIBOR + 8.00%)(f)(g)		8.00%		06/30/2025				808		808,166
Term Loan A(f)(g)(i)		0.00%		06/30/2025				1,028		1,028,329
Term Loan B (3 mo. SOFR + 4.75%)(f)(g)		9.80%		06/30/2025				10,544		10,544,072
Vue International Bidco PLC (United Kingdom), Term Loan (6 mo. EURIBOR + 8.00%)		11.36%		12/31/2027		EUR		2,111		1,207,110
										28,461,366
Lodging & Casinos–2.10%
HotelBeds (United Kingdom)
Term Loan B (3 mo. EURIBOR + 4.25%)		6.71%		09/12/2025		EUR		2,321		2,404,871
Term Loan D (6 mo. EURIBOR + 5.50%)		8.84%		09/12/2027		EUR		5,774		5,963,204
										8,368,075

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

Invesco Dynamic Credit Opportunity Fund

	Interest Rate		Maturity Date		Principal Amount (000)(a)				Value
Nonferrous Metals & Minerals–0.20%
Form Technologies LLC, First Lien Term Loan (3 mo. USD LIBOR + 9.00%)		14.33%		10/22/2025			$	1,055	$	788,487
Oil & Gas–2.89%
McDermott International Ltd.
LOC(i)		0.00%		06/30/2024				4,083		3,327,883
LOC (3 mo. USD LIBOR + 4.00%)(g)		5.18%		06/30/2024				1,801		1,260,900
PIK Second Lien Term Loan, 3.00% PIK Rate, 6.15% Cash Rate(l)		3.00%		06/30/2025				960		653,817
Term Loan (1 mo. USD LIBOR + 3.00%)		8.15%		06/30/2024				180		146,378
Petroleum GEO-Services ASA (Norway), Term Loan (3 mo. USD LIBOR + 7.00%)		12.16%		03/19/2024				579		573,842
QuarterNorth Energy, Inc., Second Lien Term Loan (1 mo. SOFR + 8.00%)		13.15%		08/27/2026				5,552		5,540,066
										11,502,886
Publishing–1.30%
Cengage Learning, Inc., Term Loan B (6 mo. USD LIBOR + 4.75%)		9.88%		06/29/2026				2,334		2,209,850
Harbor Purchaser, Inc. (Houghton Mifflin Harcourt), First Lien Term Loan B (1 mo. SOFR + 5.25%)		10.50%		04/09/2029				3,340		2,957,581
										5,167,431
Radio & Television–0.05%
Diamond Sports Holdings LLC, Second Lien Term Loan (j)(k)		0.00%		08/24/2026				2,582		109,746
Nexstar Broadcasting, Inc., Term Loan B-4 (1 mo. SOFR + 2.50%)		7.65%		09/18/2026				1		316
Univision Communications, Inc., First Lien Term Loan (3 mo. SOFR + 4.25%)		9.15%		06/10/2029				114		110,959
										221,021
Retailers (except Food & Drug)–1.01%
Douglas (Kirk Beauty GmbH) (Germany)
Term Loan B-1 (6 mo. EURIBOR + 5.25%)		8.27%		04/08/2026		EUR		849		879,000
Term Loan B-2 (6 mo. EURIBOR + 5.25%)		8.27%		04/08/2026		EUR		489		506,593
Term Loan B-3 (6 mo. EURIBOR + 5.50%)		8.27%		04/08/2026		EUR		692		716,485
Term Loan B-4 (6 mo. EURIBOR + 5.25%)		8.27%		04/08/2026		EUR		1,499		1,551,538
Term Loan B-5 (6 mo. EURIBOR + 5.25%)		8.27%		04/08/2026		EUR		334		345,479
										3,999,095
Surface Transport–0.58%
Hurtigruten (Explorer II AS) (Norway), Term Loan B (3 mo. EURIBOR + 6.50%)		9.70%		02/26/2027		EUR		2,370		2,296,329
Telecommunications–2.25%
Cincinnati Bell, Inc., Term Loan B-2 (1 mo. SOFR + 3.25%)		8.50%		11/22/2028				29		26,918
MLN US HoldCo LLC (dba Mitel)
Second Lien Term Loan (3 mo. SOFR + 6.70%)		11.78%		11/01/2027				3,739		2,149,871
Term Loan (3 mo. SOFR + 6.44%)		11.52%		11/01/2027				1,591		1,405,255
Third Lien Term Loan (6 mo. SOFR + 9.25%)(g)		14.33%		11/01/2027				1,874		984,115
Telesat LLC, Term Loan B-5 (1 mo. USD LIBOR + 2.75%)		8.03%		12/07/2026				2,338		1,425,413
U.S. Telepacific Corp., Term Loan (1 mo. SOFR + 8.35%)		13.41%		05/01/2026				1,952		555,756
Zayo Group Holdings, Inc., Incremental Term Loan (1 mo. SOFR + 4.25%)		9.40%		03/09/2027				3,014		2,386,851
										8,934,179
Utilities–1.11%
Eastern Power LLC, Term Loan (3 mo. USD LIBOR + 3.75%)		8.91%		10/02/2025				794		756,784
Lightstone Holdco LLC
Term Loan B (1 mo. SOFR + 5.75%)		10.90%		02/01/2027				2,128		1,906,767
Term Loan C (1 mo. SOFR + 5.75%)		10.90%		02/01/2027				114		102,381
Nautilus Power LLC, Term Loan (3 mo. SOFR + 5.25%)		10.24%		11/16/2026				2,211		1,658,511
										4,424,443
Total Variable Rate Senior Loan Interests (Cost $395,104,433)										349,290,610
							Shares
Common Stocks & Other Equity Interests–13.80%(m)
Aerospace & Defense–0.38%
IAP Worldwide Services, Inc. (Acquired 07/18/2014-08/18/2014; Cost $239,759)(g)(h)								221		1,495,999

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

Invesco Dynamic Credit Opportunity Fund

	Shares		Value
Aerospace & Defense–(continued)
NAC Aviation 8 Ltd.(g)		51,776	$	0
				1,495,999
Automotive–0.01%
ThermaSys Corp. (Acquired 12/31/2018; Cost $687,748)(g)(h)		980,474		29,414
Building & Development–0.00%
Haya (Holdco2 PLC/Real Estate SAU)(g)		5,422		0
Lake at Las Vegas Joint Venture LLC, Class A (Acquired 07/15/2010; Cost $24,140,508)(g)(h)		2,338		0
Lake at Las Vegas Joint Venture LLC, Class B (Acquired 07/15/2010; Cost $285,788)(g)(h)		28		0
				0
Business Equipment & Services–1.89%
Checkout Holding Corp.(g)		8,573		0
My Alarm Center LLC, Class A(g)		47,742		7,519,463
				7,519,463
Containers & Glass Products–0.02%
Libbey Glass LLC (Acquired 11/13/2020-02/10/2022; Cost $56,094)(h)		13,797		97,269
Drugs–0.01%
Envigo RMS Holding Corp.		4,854		29,512
Electronics & Electrical–0.00%
Riverbed Technology, Inc.(g)		32,799		1,640
Financial Intermediaries–0.04%
JVMC Holdings Corp.(g)		2,144		107,203
JVMC Holdings Corp., Class A(g)		1,142		57,114
JVMC Holdings Corp., Class B(g)		3,334		33
				164,350
Industrial Equipment–0.12%
North American Lifting Holdings, Inc.		62,889		492,641
Leisure Goods, Activities & Movies–3.12%
Crown Finance US, Inc., Wts., expiring 11/23/2025 (Acquired 12/09/2020; Cost $0)(h)(j)		173,934		0
USF S&H Holdco LLC (Acquired 12/02/2019; Cost $8,016,709)(f)(g)(h)		11,114		12,380,106
Vue International Bidco PLC(g)		2,084,496		0
				12,380,106
Oil & Gas–7.80%
McDermott International Ltd.(g)		190,859		63,461
QuarterNorth Energy Holding, Inc.(g)		163,623		29,643,579
QuarterNorth Energy Holding, Inc., Wts., expiring 08/27/2029(g)		26,541		400,238
QuarterNorth Energy Holding, Inc., Wts., expiring 08/27/2029(g)		51,116		2,556
Samson Investment Co., Class A (Acquired 03/01/2017; Cost $2,932,743)(g)(h)		163,748		147,373
Southcross Energy Partners L.P. (Acquired 07/29/2014-10/29/2020; Cost $749,269)(g)(h)		72,413		1,992
Tribune Resources LLC (Acquired 04/03/2018; Cost $1,915,487)(h)		376,237		728,959
Tribune Resources LLC, Wts., expiring 04/03/2023 (Acquired 04/03/2018; Cost $8,064)(h)		97,410		2,435
				30,990,593
Radio & Television–0.00%
iHeartMedia, Inc., Class B(g)		42		136
Retailers (except Food & Drug)–0.19%
Claire’s Stores, Inc. (Acquired 10/12/2018; Cost $675,080)(h)		420		173,250
Toys R US, Inc.(g)		14		34,372
Vivarte S.A.S.(g)		1,181,133		561,061
				768,683
Surface Transport–0.22%
Commercial Barge Line Co. (Acquired 02/15/2018-02/06/2020; Cost $743,133)(g)(h)		8,956		295,548

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

Invesco Dynamic Credit Opportunity Fund

							Shares		Value
Surface Transport–(continued)
Commercial Barge Line Co., Series A, Wts.								7,373	$	184,325
Commercial Barge Line Co., Series A, Wts., expiring 08/18/2030 (Acquired 02/15/2018-05/12/2022; Cost $0)(g)(h)								70,060		32,841
Commercial Barge Line Co., Series B, Wts., expiring 04/30/2045 (Acquired 02/05/2020-05/12/2022; Cost $0)(g)(h)								59,072		36,920
Commercial Barge Line Co., Wts., expiring 04/27/2045 (Acquired 02/15/2018-02/06/2020; Cost $781,183)(h)								9,414		310,662
										860,296
Total Common Stocks & Other Equity Interests (Cost $67,216,041)										54,830,102
	Interest Rate		Maturity Date		Principal Amount (000)(a)
Non-U.S. Dollar Denominated Bonds & Notes–9.04%(n)
Automotive–0.65%
Cabonline Group Holding AB (Sweden) (3 mo. STIBOR + 9.50%)(o)(p)		13.01%		04/19/2026		SEK		15,000		1,250,944
Conceria Pasubio S.p.A. (Italy) (3 mo. EURIBOR + 4.50%)(o)(p)		7.49%		09/30/2028		EUR		1,346		1,344,193
										2,595,137
Building & Development–0.73%
Haya (Holdco2 PLC/Real Estate SAU) (Spain) (3 mo. EURIBOR + 9.00%)(p)		12.46%		11/30/2025		EUR		4,471		1,873,340
Ideal Standard International S.A. (Belgium)(o)		6.38%		07/30/2026		EUR		1,828		1,045,363
										2,918,703
Cable & Satellite Television–0.53%
Altice Finco S.A. (Luxembourg)(o)		4.75%		01/15/2028		EUR		2,932		2,101,132
Financial Intermediaries–6.08%
AnaCap Financial Europe S.A. SICAV-RAIF (Italy) (3 mo. EURIBOR + 5.00%)(o)(p)		8.25%		08/01/2024		EUR		8,976		6,657,732
Garfunkelux Holdco 3 S.A. (Luxembourg) (3 mo. EURIBOR + 6.25%)(o)(p)		9.50%		05/01/2026		EUR		4,278		3,637,055
Garfunkelux Holdco 3 S.A. (Luxembourg)(o)		6.75%		11/01/2025		EUR		3,345		2,624,682
Kane Bidco Ltd. (United Kingdom)(o)		5.00%		02/15/2027		EUR		791		788,010
Kane Bidco Ltd. (United Kingdom)(o)		6.50%		02/15/2027		GBP		989		1,092,477
Sherwood Financing PLC (United Kingdom)(o)		6.00%		11/15/2026		GBP		1,082		1,103,702
Sherwood Financing PLC (United Kingdom) (3 mo. EURIBOR + 4.63%)(o)(p)		7.95%		11/15/2027		EUR		3,000		2,965,397
Very Group Funding PLC (The) (United Kingdom)(o)		6.50%		08/01/2026		GBP		5,493		5,280,486
										24,149,541
Retailers (except Food & Drug)–1.05%
Kirk Beauty SUN GmbH, (Germany)(o)		9.00%		10/01/2026		EUR		5,209		4,161,632
Total Non-U.S. Dollar Denominated Bonds & Notes (Cost $50,964,965)										35,926,145
Asset-Backed Securities–2.56%(n)
Structured Products–2.56%
Adagio V CLO DAC, Series V-X, Class ER (Ireland) (3 mo. EURIBOR + 5.15%) (o)(p)		8.33%		10/15/2031		EUR		263		229,085
Babson Euro CLO B.V., Series 2019-1A, Class ER (Ireland) (3 mo. EURIBOR + 7.21%)(o)(p)		10.39%		04/15/2036		EUR		1,750		1,613,692
Babson Euro CLO B.V., Series 2021-1A, Class E (Ireland) (3 mo. EURIBOR + 7.05%)(o)(p)		10.26%		04/24/2034		EUR		1,023		966,079
CVC Cordatus Loan Fund XXIII DAC, Series 23A, Class E (Ireland) (3 mo. EURIBOR + 7.26%)(o)(p)		10.52%		04/25/2036		EUR		2,127		2,158,030
Jubilee CLO DAC, Series 2018-21A, Class ER (Ireland) (3 mo. EURIBOR + 6.07%)(o)(p)		9.25%		04/15/2035		EUR		2,041		1,924,443
Madison Park Euro Funding XV DAC, Series 15A, Class ER (Ireland) (3 mo. EURIBOR + 7.29%)(o)(p)		10.47%		07/15/2036		EUR		3,215		3,261,709
Total Asset-Backed Securities (Cost $11,322,438)										10,153,038
							Shares
Preferred Stocks–1.37%(m)
Automotive–0.00%
ThermaSys Corp., Series A, Pfd. (Acquired 12/31/2018; Cost $218,662)(g)(h)								209		2
Electronics & Electrical–0.00%
Riverbed Technology, Inc., Pfd.(g)								64,600		3,230
Financial Intermediaries–0.06%
JVMC Holdings Corp., Series A-2, Pfd.(g)								649		236,849

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

Invesco Dynamic Credit Opportunity Fund

						Shares		Value
Oil & Gas–0.17%
McDermott International Ltd., Pfd.(g)							1,017	$	661,234
Southcross Energy Partners L.P., Series A, Pfd. (Acquired 05/07/2019-05/09/2019; Cost $285,287)(g)(h)							288,393		10,382
									671,616
Surface Transport–1.14%
Commercial Barge Line Co., Series A, Pfd. (Acquired 02/15/2018-02/06/2020; Cost $1,659,232)(h)							26,310		644,595
Commercial Barge Line Co., Series A, Pfd., Wts., expiring 04/27/2045 (Acquired 02/15/2018-02/06/2020; Cost $1,744,101)(h)							27,657		677,596
Commercial Barge Line Co., Series B, Pfd. (Acquired 02/05/2020-10/27/2020; Cost $978,436)(h)							42,058		1,892,610
Commercial Barge Line Co., Series B, Pfd., Wts., expiring 04/27/2045 (Acquired 02/05/2020-10/27/2020; Cost $687,140)(h)							29,536		1,329,120
									4,543,921
Total Preferred Stocks (Cost $5,598,773)									5,455,618
	Interest Rate		Maturity Date		Principal Amount (000)
U.S. Dollar Denominated Bonds & Notes–0.96%
Aerospace & Defense–0.18%
Rand Parent LLC (o)		8.50%		02/15/2030		$	820		708,791
Air Transport–0.10%
Mesa Airlines, Inc., Class B (Acquired 11/25/2015; Cost $968,429)(g)(h)		5.75%		07/15/2025			415		404,724
Food Products–0.30%
Teasdale Foods, Inc. (Acquired 12/18/2020-03/31/2022; Cost $1,911,177)(f)(g)(h)		16.25%		06/18/2026			2,241		1,205,758
Radio & Television–0.02%
Diamond Sports Group LLC/Diamond Sports Finance Co. (j)(k)(o)		0.00%		08/15/2026			1,631		72,605
Telecommunications–0.36%
Windstream Escrow LLC/Windstream Escrow Finance Corp. (o)		7.75%		08/15/2028			1,758		1,431,109
Total U.S. Dollar Denominated Bonds & Notes (Cost $6,504,118)									3,822,987
Municipal Obligations–0.76%
Arizona–0.76%
Arizona (State of) Industrial Development Authority (NewLife Forest Restoration, LLC), Series 2022, RB (Cost $3,265,426)(o)		9.00%		01/01/2028			3,547		3,022,948
					Shares
Money Market Funds–0.03%
Invesco Government & Agency Portfolio, Institutional Class, 5.04%(q)(r)							68,632		68,632
Invesco Treasury Portfolio, Institutional Class, 5.04%(q)(r)							45,755		45,755
Total Money Market Funds (Cost $114,387)									114,387
TOTAL INVESTMENTS IN SECURITIES–116.41% (Cost $540,090,581)									462,615,835
BORROWINGS–(19.88)%									(79,000,000	)
OTHER ASSETS LESS LIABILITIES–3.47%									13,782,028
NET ASSETS–100.00%								$	397,397,863

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

Invesco Dynamic Credit Opportunity Fund

Investment Abbreviations:
DIP	- Debtor-in-Possession
EUR	- Euro
EURIBOR	- Euro Interbank Offered Rate
GBP	- British Pound Sterling
LIBOR	- London Interbank Offered Rate
LOC	- Letter of Credit
Pfd.	- Preferred
PIK	- Pay-in-Kind
RB	- Revenue Bonds
SEK	- Swedish Krona
SOFR	- Secured Overnight Financing Rate
SONIA	- Sterling Overnight Index Average
STIBOR	- Stockholm Interbank Offered Rate
USD	- U.S. Dollar
Wts.	- Warrants

Notes to Consolidated Schedule of Investments:

^(a)  Principal amounts are denominated in U.S. dollars unless otherwise noted.

^(b)  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.

^(c)  Variable rate senior loan interests are, at present, not readily marketable, not registered under the Securities Act of 1933, as amended (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 London Interbank Offered Rate (“LIBOR”), 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.

^(d)  Calculated as a percentage of net assets. Amounts in excess of 100% are due to the Fund’s use of leverage.

^(e)  This variable rate interest will settle after May 31, 2023, at which time the interest rate will be determined.

^(f)  Acquired through direct lending. Direct loans may be subject to liquidity and interest rate risk and certain direct loans may be deemed illiquid.

^(g)  Security valued using significant unobservable inputs (Level 3). See Note 1.

^(h)  Restricted security. The aggregate value of these securities at May 31, 2023 was $33,574,451, which represented 8.45% of the Fund’s Net Assets.

⁽ⁱ⁾  All or a portion of this holding is subject to unfunded loan commitments. Interest rate will be determined at the time of funding.

^(j)  The borrower has filed for protection in federal bankruptcy court.

^(k)  Defaulted security. Currently, the issuer is in default with respect to principal and/or interest payments. The aggregate value of these securities at May 31, 2023 was $8,387,206, which represented 2.11% of the Fund’s Net Assets.

^(l) All or a portion of this security is Pay-in-Kind. Pay-in-Kind securities pay interest income in the form of securities.

^(m)  Securities acquired through the restructuring of senior loans.

⁽ⁿ⁾  Foreign denominated security. Principal amount is denominated in the currency indicated.

^(o)  Security purchased or received in a transaction exempt from registration under 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 $49,441,296, which represented 12.44% of the Fund’s Net Assets.

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

^(q)  Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended May 31, 2023.

						Change in
	Value		Purchases	Proceeds		Unrealized	Realized	Value
	February 28, 2023		at Cost	from Sales		Appreciation	Gain	May 31, 2023		Dividend Income
Investments in Affiliated Money Market Funds:
Invesco Government & Agency Portfolio, Institutional Class		$3,078,901	$29,872,576		$(32,882,845)	$-	$-		$  68,632		$49,851
Invesco Treasury Portfolio, Institutional Class		2,052,601	19,915,051		(21,921,897)	-	-		45,755		33,145
Total		$5,131,502	$49,787,627		$(54,804,742)	$-	$-		$114,387		$82,996

^(r)  The rate shown is the 7-day SEC standardized yield as of May 31, 2023.

The aggregate value of securities considered illiquid at May 31, 2023 was $294,810,804 which represented 74.19% of the Fund’s Net Assets.

Open Forward Foreign Currency Contracts
Settlement		Contract to						Unrealized Appreciation
Date	Counterparty	Deliver			Receive			(Depreciation)
Currency Risk
06/30/2023	Bank of America, N.A.		NOK	1,711		USD	162	$	8
06/30/2023	Bank of New York Mellon (The)		EUR	25,361,772		USD	28,071,677		918,511
06/30/2023	Barclays Bank PLC		GBP	5,323,316		USD	6,643,220		17,309
06/30/2023	Barclays Bank PLC		SEK	14,041,773		USD	1,372,578		76,635

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

Invesco Dynamic Credit Opportunity Fund

Open Forward Foreign Currency Contracts–(continued)
								Unrealized
Settlement Date		Contract to						Appreciation
	Counterparty	Deliver			Receive			(Depreciation)
06/30/2023	BNP Paribas S.A.		USD	6,776,596		GBP	5,472,883	$	35,480
07/31/2023	BNP Paribas S.A.		EUR	25,352,778		USD	27,392,850		202,606
07/31/2023	BNP Paribas S.A.		NOK	1,711		USD	156		2
07/31/2023	BNP Paribas S.A.		SEK	13,664,264		USD	1,282,794		19,645
06/30/2023	Morgan Stanley and Co. International PLC		EUR	25,583,238		USD	28,263,916		873,640
06/30/2023	Morgan Stanley and Co. International PLC		GBP	5,403,973		USD	6,743,551		17,248
06/30/2023	Morgan Stanley and Co. International PLC		USD	6,675,381		GBP	5,391,198		35,022
06/30/2023	Royal Bank of Canada		GBP	500,000		USD	628,936		6,588
06/30/2023	Royal Bank of Canada		USD	6,819,516		GBP	5,506,146		33,963
07/31/2023	Royal Bank of Canada		EUR	25,838,358		USD	27,898,423		187,405
07/31/2023	State Street Bank & Trust Co.		EUR	25,163,578		USD	27,116,901		129,569
06/30/2023	Toronto-Dominion Bank (The)		EUR	25,361,772		USD	28,024,276		871,110
06/30/2023	Toronto-Dominion Bank (The)		GBP	5,403,973		USD	6,742,320		16,017
Subtotal–Appreciation									3,440,758
Currency Risk
06/30/2023	Barclays Bank PLC		USD	327,747		GBP	261,035		(2,837	)
06/30/2023	BNP Paribas S.A.		USD	27,344,224		EUR	25,352,778		(200,687	)
06/30/2023	BNP Paribas S.A.		USD	156		NOK	1,711		(2	)
06/30/2023	BNP Paribas S.A.		USD	1,318,076		SEK	14,041,773		(22,132	)
07/31/2023	BNP Paribas S.A.		GBP	5,472,883		USD	6,780,086		(35,670	)
07/31/2023	Morgan Stanley and Co. International PLC		GBP	5,391,198		USD	6,678,835		(35,193	)
06/30/2023	Royal Bank of Canada		USD	27,814,658		EUR	25,790,424		(202,562	)
07/31/2023	Royal Bank of Canada		GBP	5,472,883		USD	6,781,887		(33,869	)
06/30/2023	State Street Bank & Trust Co.		USD	27,068,461		EUR	25,163,578		(127,488	)
Subtotal–Depreciation									(660,440	)
Total Forward Foreign Currency Contracts								$	2,780,318

Abbreviations:
EUR	-  Euro
GBP	-  British Pound Sterling
NOK	-  Norwegian Krone
SEK	-  Swedish Krona
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 consolidated schedule.

Invesco Dynamic Credit Opportunity Fund

Notes to Quarterly Consolidated 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 (the “Adviser”) 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 May 31, 2023. 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 consolidated 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
Variable Rate Senior Loan Interests	$	–	$	112,037,416		$	237,253,194	$	349,290,610
Common Stocks & Other Equity Interests		29,512		1,989,541			52,811,049		54,830,102
Non-U.S. Dollar Denominated Bonds & Notes		–		35,926,145			–		35,926,145
Asset-Backed Securities		–		10,153,038			–		10,153,038
Preferred Stocks		–		4,543,921			911,697		5,455,618
U.S. Dollar Denominated Bonds & Notes		–		2,212,505			1,610,482		3,822,987
Municipal Obligations		–		3,022,948			–		3,022,948
Money Market Funds		114,387		–			–		114,387
Total Investments in Securities		143,899		169,885,514			292,586,422		462,615,835
Other Investments - Assets*
Investments Matured		–		1,188,484			354,284		1,542,768
Forward Foreign Currency Contracts		–		3,440,758			–		3,440,758
		–		4,629,242			354,284		4,983,526
Other Investments - Liabilities*
Forward Foreign Currency Contracts		–		(660,440	)		–		(660,440	)
Total Other Investments		–		3,968,802			354,284		4,323,086
Total Investments	$	143,899	$	173,854,316		$	292,940,706	$	466,938,921

* Forward foreign currency contracts are valued at unrealized appreciation (depreciation). Investments matured are shown at value.

A reconciliation of Level 3 investments is presented when the Fund had a significant amount of Level 3 investments at the beginning and/or end of the reporting period in relation to net assets.

The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) during the three months ended May 31, 2023:

												Change in
								Accrued				Unrealized			Transfers			Transfers
	Value		Purchases		Proceeds			Discounts/		Realized		Appreciation			into			out of			Value
	02/28/23		at Cost		from Sales			Premiums		Gain		(Depreciation)			Level 3*			Level 3*			05/31/23
Variable Rate Senior Loan Interests	$	290,670,988	$	10,183,121	$	(54,868,317	)	$	354,991	$	638,142	$	(3,134,973	)	$	3,040,231		$	(9,630,989	)	$	237,253,194
Common Stocks & Other Equity Interests		57,005,087		–		–			–		–		(4,458,779	)		301,761	��		(37,020	)		52,811,049
U.S. Dollar Denominated Bonds & Notes		757,674		87,495		–			–		–		765,313			–			–			1,610,482
Preferred Stocks		931,492		426,570		(426,570	)		–		–		(19,795	)		–			–			911,697
Investments Matured		354,284		–		–			–		–		–			–			–			354,284
Total	$	349,719,525	$	10,697,186	$	(55,294,887	)	$	354,991	$	638,142	$	(6,848,234	)	$	3,341,992		$	(9,668,009	)	$	292,940,706

*Transfers into and out of level 3 are due to increases or decreases in market activity impacting the available market inputs to determine the price.

Securities determined to be Level 3 at the end of the reporting period were valued primarily by utilizing evaluated prices from a third-party vendor pricing service. A significant change in third-party pricing information could result in a lower or higher value in Level 3 investments.

Invesco Dynamic Credit Opportunity Fund

The following table summarizes the valuation techniques and significant unobservable inputs used in determining fair value measurements for those investments classified as level 3 at period end:

					Range of
	Fair Value		Valuation	Unobservable	Unobservable	Unobservable
	at 05/31/23		Technique	Inputs	Inputs	Input Used
QuarterNorth Energy, Inc.	$	29,643,579	Enterprise Value	Barrel of Oil Equivalent Per Day	N/A	39,553	(a)
FDH Group Acquisition, Inc., Term Loan A		22,001,511	Valuation Service	N/A	N/A	N/A	(b)
Keg Logistics LLC, Term Loan A		20,154,941	Valuation Service	N/A	N/A	N/A	(b)
Lightning Finco Ltd. (LiveU), Term Loan B-1		17,640,140	Valuation Service	N/A	N/A	N/A	(b)
Muth Mirror Systems LLC, Term Loan		17,324,786	Valuation Service	N/A	N/A	N/A	(b)
Teasdale Foods, Inc., Term Loan		13,821,991	Valuation Service	N/A	N/A	N/A	(b)
USF S&H Holdco LLC		12,380,106	Valuation Service	N/A	N/A	N/A	(b)
USF S&H Holdco LLC, Term Loan B		10,544,072	Valuation Service	N/A	N/A	N/A	(b)
NAS LLC (d.b.a. Nationwide Marketing Group), Term Loan		8,741,145	Valuation Service	N/A	N/A	N/A	(b)
Transtar Industries, Inc., Term Loan A		8,562,560	Valuation Service	N/A	N/A	N/A	(b)
MB2 Dental Solutions LLC, Term Loan B		8,495,269	Valuation Service	N/A	N/A	N/A	(b)
MB2 Dental Solutions LLC, Delayed Draw Term Loan		8,478,847	Valuation Service	N/A	N/A	N/A	(b)
CV Intermediate Holdco Corp. (Class Valuation), Term Loan B		7,912,192	Valuation Service	N/A	N/A	N/A	(b)
CV Intermediate Holdco Corp. (Class Valuation), Delayed Draw Term Loan		7,683,558	Valuation Service	N/A	N/A	N/A	(b)
My Alarm Center LLC, Class A		7,519,463	Broker Quote	N/A	N/A	N/A	(c)
Lamark Media Group LLC, Term Loan B		6,837,039	Valuation Service	N/A	N/A	N/A	(b)
Vertellus, Term Loan B		6,603,384	Valuation Service	N/A	N/A	N/A	(b)
SDB Holdco LLC, Term Loan		4,740,942	Valuation Service	N/A	N/A	N/A	(b)

^(a)  The Fund fair values certain common equity securities using an enterprise value approach, which utilizes market comps, recent mergers & acquisitions transactions, barrel of oil equivalent per day and projected production. The Adviser periodically reviews the financial statements and monitors such investments for additional market information of the occurrence of a significant event which would warrant a re-evaluation of the security’s fair valuation.

^(b)  Securities classified as Level 3 whose unadjusted values were provided by a pricing service and for which such inputs are unobservable. The valuations are based on certain methods used to determine market yields in order to establish a discount rate of return given market conditions and prevailing lending standards. Future expected cash flows are discounted back to the present value using these discount rates in the discounted cash flow analysis. The Adviser reviews the valuation reports provided by the valuation service on an on-going basis and monitors such investments for additional information or the occurrence of a market event which would warrant a re-evaluation of the security’s fair valuation.

^(c)  Securities classified as Level 3 whose unadjusted values were provided by a broker and for which the inputs used in the broker quote supplied are unobservable. The Adviser reviews the broker statements and monitors such investments for additional market information of the occurrence of a significant event which would warrant a re-evaluation of the security’s fair valuation.

Invesco Dynamic Credit Opportunity Fund