Invesco Dynamic Credit Opportunity Fund NPORT-P Invesco Dynamic Credit Opportunity Fund (May 2024 report)

Consolidated Schedule of Investments 

May 31, 2024 

(Unaudited) 

	Interest Rate		Maturity Date		Principal Amount (000)(a)				Value
Variable Rate Senior Loan Interests–98.92%(b)(c)(d)
Aerospace & Defense–8.64%
ADB Safegate (ADBAS/CEP IV) (Luxembourg), Term Loan B (3 mo. EURIBOR + 4.75%)		8.69%		10/05/2026		EUR		5,000	$  5,274,913
FDH Group Acquisition, Inc., Term Loan A (3 mo. SOFR + 6.50%)(e)(f)		11.95%		10/01/2025			$	22,136	21,958,597
NAC Aviation 8 Ltd. (Ireland)
Revolver Loan(f)(g)		0.00%		12/31/2026				1,642	1,642,458
Term Loan (1 mo. USD LIBOR + 4.11%)(f)		9.43%		12/31/2026				1,966	0
Term Loan (1 mo. USD LIBOR + 4.11%)(f)		9.43%		12/31/2026				2,008	0
									28,875,968
Automotive–9.96%
Constellation Auto (CONSTE/BCA) (United Kingdom), Second Lien Term Loan B-1 (6 mo. SONIA + 7.50%)		12.69%		07/27/2029		GBP		4,668	4,337,442
DexKo Global, Inc., Revolver Loan(f)(g)		0.00%		10/04/2026				623	618,263
First Brands Group LLC
First Lien Incremental Term Loan (3 mo. EURIBOR + 5.00%)(f)		8.87%		03/30/2027		EUR		1,053	1,137,413
First Lien Incremental Term Loan (3 mo. SOFR + 5.00%)		10.59%		03/30/2027				1,933	1,923,053
Second Lien Term Loan (3 mo. SOFR + 8.50%)		14.14%		03/30/2028				440	430,522
Muth Mirror Systems LLC
Revolver Loan (Acquired 04/23/2019-03/29/2024; Cost $1,695,205)(e)(f)(h)		7.00%		04/23/2025				1,696	1,369,059
Term Loan (Acquired 04/23/2019-03/29/2024; Cost $18,550,139)(e)(f)(h)		7.00%		04/23/2025				18,617	15,023,933
Transtar Industries, Inc., Term Loan A (3 mo. SOFR + 7.40%)(e)(f)		12.75%		01/22/2027				8,500	8,431,622
									33,271,307
Beverage & Tobacco–0.60%
City Brewing Co. LLC
First Lien Term Loan (3 mo. SOFR + 6.25%)(f)		11.57%		04/05/2028				367	371,038
Term Loan (3 mo. Term SOFR + 3.50%)(f)		9.09%		04/05/2028				962	885,557
Term Loan (3 mo. Term SOFR + 3.50%)		8.83%		04/14/2028				963	745,985
									2,002,580
Building & Development–2.96%
Empire Today LLC, Term Loan B (1 mo. SOFR + 5.00%)		10.59%		04/01/2028				2,360	1,712,231
Interior Logic Group, Inc. (Signal Parent), Term Loan B (1 mo. SOFR + 3.50%)		8.93%		04/01/2028				1,057	946,591
LHS Borrow LLC (Leaf Home Solutions), Term Loan (1 mo. SOFR + 4.75%)		10.18%		02/16/2029				1,559	1,502,823
Platea (BC) Bidco AB
Delayed Draw Term Loan B(g)		0.00%		04/02/2031		EUR		96	104,229
Term Loan B (3 mo. EURIBOR + 4.50%)		8.41%		04/02/2031		EUR		479	521,143
Xella (Luxembourg), Term Loan B-4 (3 mo. EURIBOR + 4.18%)		8.08%		04/12/2028		EUR		5,000	5,108,765
									9,895,782
Business Equipment & Services–16.35%
Allied Universal Holdco LLC (USAGM Holdco LLC/UNSEAM), Term Loan (1 mo. EURIBOR + 3.75%)		7.52%		05/12/2028		EUR		94	102,397
Checkout Holding Corp. (Catalina Marketing), Term Loan (3 mo. SOFR + 9.50%)		14.82%		05/10/2027				230	120,773
Cloud Software Group, Inc.
First Lien Term Loan (1 mo. SOFR + 4.50%)		9.93%		03/21/2031				828	833,631
First Lien Term Loan B (1 mo. SOFR + 4.00%)		9.33%		03/30/2029				597	600,303
Constant Contact, Inc.
Delayed Draw Term Loan (3 mo. SOFR + 4.26%)(f)		9.57%		02/10/2028				141	136,482
Delayed Draw Term Loan(f)(g)		0.00%		02/10/2028				282	272,964
CRCI Longhorn Holdings, Inc., Second Lien Term Loan (1 mo. SOFR + 7.25%)		12.68%		08/10/2026				86	84,732

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)
CV Intermediate Holdco Corp. (Class Valuation)
Delayed Draw Term Loan (3 mo. SOFR + 6.40%)(e)(f)		11.73%		03/31/2026			$	8,023	$  7,982,614
First Lien Term Loan (1 mo. USD LIBOR + 6.40%)(e)(f)		11.73%		03/31/2026				8,261	8,219,724
Revolver Loan (3 mo. Term SOFR + 6.40%)(e)(f)		11.73%		03/31/2026				252	251,080
Revolver Loan(e)(f)(g)		0.00%		03/31/2026				1,009	1,004,319
ION Trading Technologies S.a.r.l. (Luxembourg), Term Loan (3 mo. EURIBOR + 4.25%)		8.15%		04/01/2028		EUR		2,000	2,114,034
Lamark Media Group LLC
Delayed Draw Term Loan (3 mo. Term SOFR + 5.85%)(e)(f)		11.16%		10/14/2027				1,509	1,508,836
Revolver Loan(e)(f)(g)		0.00%		10/14/2027				1,019	1,018,623
Term Loan (3 mo. Term SOFR + 5.85%)(e)(f)		11.16%		10/14/2027				6,970	6,969,931
Monitronics International, Inc., Term Loan B (3 mo. SOFR + 7.50%)		13.09%		06/30/2028				6,043	6,031,430
NAS LLC (d.b.a. Nationwide Marketing Group)
Revolver Loan (3 mo. Term SOFR + 6.65%)(e)(f)		11.98%		06/02/2025				460	451,483
Revolver Loan(e)(f)(g)		0.00%		06/02/2025				460	451,482
Term Loan (3 mo. SOFR + 6.65%)(e)(f)		11.98%		06/03/2024				8,739	8,581,973
Term Loan (3 mo. SOFR + 6.65%)(e)(f)		11.98%		06/03/2024				2,737	2,687,707
Term Loan (3 mo. SOFR + 6.65%)(e)(f)		11.98%		06/03/2024				1,660	1,630,338
Prometric Holdings, Inc., Term Loan (1 mo. Term SOFR + 4.85%)		10.19%		01/31/2028				468	470,875
Protect America, Revolver Loan(f)		0.00%		09/01/2024				350	318,474
Solera (Polaris Newco LLC), First Lien Term Loan (1 mo. SONIA + 5.25%)		10.45%		06/02/2028		GBP		1,362	1,668,204
Spin Holdco, Inc., Term Loan (3 mo. SOFR + 4.00%)		9.59%		03/04/2028				334	289,555
UnitedLex Corp., Term Loan (1 mo. USD LIBOR + 5.85%)(f)		11.17%		03/20/2027				927	811,512
									54,613,476
Cable & Satellite Television–8.05%
Altice Financing S.A. (Altice-Int’l) (Luxembourg), Term Loan B (3 mo. EURIBOR + 5.00%)		8.91%		10/31/2027		EUR		538	512,721
Lightning Finco Ltd. (LiveU) (United Kingdom)
Term Loan B-1 (3 mo. SOFR + 5.50%)(e)(f)		11.24%		08/31/2028				18,375	18,375,146
Term Loan B-2 (6 mo. EURIBOR + 5.50%)(e)(f)		9.39%		08/31/2028		EUR		1,886	2,033,884
Numericable-SFR S.A. (France), Term Loan B-14 (3 mo. EURIBOR + 5.50%)		9.41%		08/15/2028		EUR		7,444	5,968,830
									26,890,581
Chemicals & Plastics–4.85%
A-Gas Finco, Inc., Term Loan (3 mo. SOFR + 5.25%)		10.56%		12/14/2029				1,076	1,041,439
Aruba Investments, Inc., First Lien Term Loan (1 mo. SOFR + 4.10%)		9.43%		11/24/2027				139	138,703
Arxada (Herens Holdco S.a r.l./ Lonza) (Switzerland), Term Loan B (3 mo. EURIBOR + 3.93%)		7.83%		07/03/2028		EUR		2,000	2,079,616
Discovery Purchaser Corp. (BES), First Lien Term Loan (3 mo. SOFR + 4.38%)		9.68%		10/04/2029				1,024	1,025,219
Flint Group (ColourOz Inv) (Germany)
PIK Term Loan B, 6.90% PIK Rate, 5.69% Cash Rate(i)		6.90%		12/31/2027				23	4,102
Term Loan (3 mo. SOFR + 8.26%)		13.59%		06/30/2026				3	3,365
Ineos Quattro (STYRO) (United Kingdom), Term Loan B (1 mo. SOFR + 4.35%)		9.68%		04/02/2029				902	904,109
Oxea Corp. (OQ Chemicals), Term Loan B-2 (1 mo. SOFR + 3.60%)		8.91%		10/14/2024				788	735,034
Trinseo Materials Operating S.C.A.
Incremental Term Loan (3 mo. SOFR + 2.76%)		8.11%		05/03/2028				1,575	1,299,210
Term Loan A (3 mo. Term SOFR + 8.50%)		13.81%		05/03/2028				227	238,739
Term Loan B (3 mo. Term SOFR + 8.50%)		13.81%		05/03/2028				1,669	1,756,766
V Global Holdings LLC
Revolver Loan (1 mo. USD LIBOR + 5.75%)(e)(f)		11.17%		12/22/2025				630	586,880
Revolver Loan(e)(f)(g)		0.00%		12/22/2025				66	61,249
Term Loan (6 mo. Term SOFR + 6.01%)(e)(f)		11.22%		12/22/2027				6,809	6,339,384
									16,213,815
Containers & Glass Products–10.34%
Keg Logistics LLC
Revolver Loan (3 mo. Term SOFR + 6.16%)(e)(f)		11.48%		11/23/2027				1,366	1,278,811
Term Loan A (3 mo. Term SOFR + 6.15%)(e)(f)		11.49%		11/16/2027				20,979	19,636,159

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
Containers & Glass Products–(continued)
Keter Group B.V. (Netherlands)
Term Loan (3 mo. EURIBOR + 8.00%)(f)		11.90%		12/31/2024		EUR		111	$    122,748
Term Loan (3 mo. EURIBOR + 5.00%)		3.89%		12/31/2029		EUR		3,707	3,200,296
Term Loan (3 mo. EURIBOR + 4.75%)		8.61%		12/31/2029		EUR		3,480	3,695,001
Klockner Pentaplast of America, Inc., Term Loan B (6 mo. EURIBOR + 4.73%)		8.64%		02/12/2026		EUR		4,000	3,788,906
LABL, Inc. (Multi-Color), Term Loan (1 mo. EURIBOR+ 5.00%)		8.77%		10/29/2028		EUR		1,783	1,857,846
Libbey Glass LLC, Incremental Term Loan (3 mo. Term SOFR + 6.65%)		11.97%		11/22/2027			$	191	184,167
Mold-Rite Plastics LLC (Valcour Packaging LLC), First Lien Term Loan (1 mo. Term SOFR +3.87%)		9.19%		10/04/2028				1,241	777,628
									34,541,562
Ecological Services & Equipment–1.33%
OGF (VESCAP/Obol France 3/PHM) (France), Term Loan B-2 (6 mo. EURIBOR + 4.75%)		8.58%		12/31/2025		EUR		4,000	4,159,342
TruGreen L.P., Second Lien Term Loan (3 mo. SOFR + 8.50)		13.83%		11/02/2028				360	284,106
									4,443,448
Electronics & Electrical–5.81%
CommScope, Inc., Term Loan (1 mo. SOFR + 3.36%)		8.69%		04/06/2026				1,270	1,143,597
GoTo Group, Inc. (LogMeIn)
First Lien Term Loan (1 mo. SOFR + 4.85%)		10.17%		04/30/2028				2,177	2,052,258
Second Lien Term Loan (1 mo. SOFR + 4.85%)		10.17%		04/30/2028				1,330	824,400
Infinite Electronics, Second Lien Term Loan (3 mo. SOFR + 7.26%)		12.59%		03/02/2029				473	406,009
Learning Pool (Brook Bidco Ltd.) (United Kingdom)
Term Loan (3 mo. SONIA + 6.87%)(f)		12.07%		08/17/2028		GBP		577	721,084
Term Loan 1 (3 mo. Term SOFR + 7.00%)(f)		12.32%		08/17/2028				766	741,910
Mavenir Systems, Inc., Term Loan B (3 mo. SOFR + 5.01%)		10.35%		08/18/2028				1,707	1,339,470
Natel Engineering Co., Inc., Term Loan (1 mo. SOFR + 6.25%)		11.69%		04/30/2026				3,233	2,851,517
Native Instruments (Music Creation Group GmbH/APTUS) (Germany), Term Loan B (3 mo. EURIBOR + 6.00%)(f)		9.93%		03/03/2028		EUR		1,270	1,292,754
Quest Software US Holdings, Inc., First Lien Term Loan (3 mo. SOFR + 4.25%)		9.73%		02/01/2029				1,775	1,327,732
Riverbed Technology LLC, Term Loan (3 mo. Term SOFR + 2.50%)		7.81%		07/01/2028				1,590	980,085
Sandvine Corp., Second Lien Term Loan (3 mo. SOFR + 8.00%)		13.33%		11/02/2026				322	128,674
SonicWall U.S. Holdings, Inc., First Lien Term Loan (1 mo. SOFR + 5.00%)		10.31%		05/18/2028				1,075	1,077,729
Utimaco (SGT Ultimate BidCo GmbH) (Germany)
Term Loan B-1 (6 mo. EURIBOR + 6.25%)(f)		10.00%		05/31/2029		EUR		2,932	2,977,607
Term Loan B-2 (3 mo. Term SOFR + 6.68%)(f)		11.99%		05/31/2029				1,646	1,551,691
									19,416,517
Financial Intermediaries–0.03%
Edelman Financial Center LLC (The), Term Loan (j)		-		10/20/2028				93	93,238
Food Products–8.35%
Biscuit Holding S.A.S. (BISPOU/Cookie Acq) (France), Term Loan B (6 mo. EURIBOR + 4.00%)		7.86%		02/15/2027		EUR		2,012	2,057,755
BrightPet (AMCP Pet Holdings, Inc.)
Incremental Term Loan B (3 mo. USD LIBOR + 6.25%)(e)(f)		12.46%		10/05/2026				4,209	4,141,581
Revolver Loan (3 mo. USD LIBOR + 6.25%)(e)(f)		10.39%		10/05/2026				1,214	1,194,242
Revolver Loan(e)(f)(g)		0.00%		10/05/2026				252	248,269
Term Loan (3 mo. USD LIBOR + 6.25%)(e)(f)		11.71%		10/05/2026				4,094	4,028,392
Florida Food Products LLC, Second Lien Term Loan (1 mo. USD LIBOR + 8.11%)(f)		13.44%		10/18/2029				1,028	693,705
Mosel Bidco SE (Alphia) (Germany), Term Loan B (3 mo. SOFR + 5.00%)		10.31%		10/02/2030				795	757,117
Sigma Holdco B.V. (Netherlands), Term Loan B-7 (6 mo Term SOFR + 4.75%)		10.31%		01/02/2028				1	827
Teasdale Foods, Inc., Term Loan (6 mo. Term SOFR + 6.50%)(e)(f)		11.68%		12/18/2025				15,993	14,777,462
									27,899,350
Forest Products–0.31%
NewLife Forest Restoration LLC, Term Loan (1 mo. USD LIBOR + 10.00%)(f)		10.00%		04/10/2029				1,048	1,048,340
Health Care–3.76%
Acacium (Impala Bidco Ltd.) (United Kingdom), Incremental Term Loan B (1 mo. SOFR + 4.75%)(f)		10.16%		06/08/2028				955	902,676

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
Health Care–(continued)
Cerba (Chrome Bidco) (France)
Incremental Term Loan C (1 mo. EURIBOR + 4.00%)		7.77%		02/16/2029		EUR		2,000	$  2,029,726
Incremental Term Loan D (1 mo. EURIBOR + 5.50%)		9.27%		02/16/2029		EUR		2,000	2,115,846
MedAssets Software Intermediate Holdings, Inc. (nThrive TSG), Second Lien Term Loan (1 mo. SOFR + 6.75%)		12.19%		12/17/2029			$	638	434,559
SDB Holdco LLC (Specialty Dental Brands)
Delayed Draw Term Loan (1 mo. Term SOFR + 7.10%)(e)(f)		12.41%		03/18/2027				496	496,218
Delayed Draw Term Loan(e)(f)(g)		0.00%		03/18/2027				215	215,014
Term Loan A (1 mo. Term SOFR + 7.10%)(e)(f)		12.41%		03/29/2027				5,835	5,834,782
Veonet Lense GmbH (BLIVEO) (Germany), Incremental Term Loan(j)		-		03/14/2029		EUR		141	153,265
Women’s Care Holdings, Inc., Second Lien Term Loan (3 mo. SOFR + 8.36%)		13.68%		01/12/2029				431	362,599
									12,544,685
Home Furnishings–1.41%
Hilding Anders AB (Sweden)
Term Loan (6 mo. EURIBOR + 5.00%) (Acquired 10/04/2022-04/29/2024; Cost $4,503,350)(h)		8.83%		02/28/2026		EUR		5,249	2,065,393
Term Loan (6 mo. EURIBOR + 10.00%)(f)		13.83%		12/31/2026		EUR		425	450,126
Term Loan (6 mo. EURIBOR + 10.00%) (Acquired 09/26/2023; Cost $542,492)(f)(h)		13.83%		12/31/2026		EUR		513	542,889
Term Loan (Acquired 10/04/2022-04/29/2024; Cost $988,494)(f)(h)		0.00%		02/26/2027		EUR		5,313	0
Serta Simmons Bedding LLC
First Lien Term Loan (3 mo. Term SOFR + 7.61%)(f)		12.94%		06/29/2028				121	120,118
Term Loan (3 mo. Term SOFR + 7.61%)		12.92%		06/29/2028				1,701	1,470,285
Weber-Stephen Products LLC, Incremental Term Loan B (1 mo. SOFR + 4.35%)		9.68%		10/30/2027				72	67,509
									4,716,320
Industrial Equipment–2.82%
Deliver Buyer, Inc. (MHS Holdings), Term Loan (3 mo. SOFR + 5.50%)		10.80%		06/01/2029				1,056	959,494
Discovery Energy Holding Co. (Kohler Energy), Term Loan B (3 mo. SOFR + 4.75%)		10.06%		05/01/2031				825	830,081
Kantar (Summer BC Bidco/KANGRP) (United Kingdom)
Revolver Loan (3 mo. SONIA + 3.50%)(f)		10.57%		06/04/2026				112	103,128
Revolver Loan(f)(g)		0.00%		06/04/2026				2,388	2,196,872
Term Loan B (3 mo. Term SOFR + 5.26%)		10.57%		02/05/2029				1,352	1,358,384
Robertshaw US Holding Corp.
First Lien Term Loan(f)(k)(l)		0.00%		02/28/2027				327	318,487
Revolver Loan (Acquired 11/14/2023-11/22/2023; Cost $229,863)(f)(g)(h)(k)		0.00%		06/24/2027				230	229,719
Second Lien Term Loan (Acquired 05/09/2023-07/14/2023; Cost $286,049)(f)(h)(k)(l)		0.00%		02/28/2027				456	266,596
Third Lien Term Loan (Acquired 05/09/2023; Cost $183,271)(f)(h)(k)(l)		0.00%		02/28/2027				610	356,828
Sulo SAS (France), Term Loan B(j)		-		05/21/2031		EUR		1,000	1,090,475
Tank Holding Corp.
Revolver Loan (1 mo. Term SOFR + 5.85%)(f)		11.17%		03/31/2028				9	8,558
Revolver Loan(f)(g)		0.00%		03/31/2028				167	162,606
Term Loan (1 mo. SOFR + 5.85%)		11.18%		03/31/2028				1,315	1,305,320
Victory Buyer LLC (Vantage Elevator), Second Lien Term Loan (3 mo. SOFR + 7.26%)(f)		12.60%		11/19/2029				258	220,976
									9,407,524
Leisure Goods, Activities & Movies–7.47%
Crown Finance US, Inc., Term Loan (1 mo. SOFR + 1.61%)		7.00%		07/31/2028				2,660	2,699,184
Fitness International LLC, Term Loan B (3 mo. SOFR + 5.25%)(f)		10.68%		02/05/2029				1,100	1,103,616
Parques Reunidos (Piolin Bidco S.A.U.) (Spain)
Revolver Loan (1 mo. EURIBOR + 3.50%)(f)		8.29%		03/16/2026		EUR		2,454	2,647,181
Revolver Loan(f)(g)		0.00%		03/16/2026				5	5,249
Term Loan B-4(j)		-		09/16/2029		EUR		840	914,079
Scenic (Columbus Capital B.V.) (Australia), Term Loan (3 mo. EURIBOR + 3.75%)		7.65%		02/27/2027		EUR		4,200	4,185,822

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
Leisure Goods, Activities & Movies–(continued)
USF S&H Holdco LLC
Term Loan A (3 mo. USD LIBOR + 8.00%)(e)(f)		17.25%		06/30/2025			$	808	$    808,166
Term Loan A(e)(f)(g)		0.00%		06/30/2025				1,028	1,028,329
Term Loan B (3 mo. USD LIBOR + 4.90%)(e)(f)		10.20%		06/30/2025				10,437	10,437,296
Vue International Bidco PLC (United Kingdom)
Second Lien Term Loan (1 mo. EURIBOR + 8.50%)		4.03%		12/31/2027		EUR		708	450,427
Term Loan (3 mo. EURIBOR + 8.00%)		11.87%		06/30/2027		EUR		206	235,240
Term Loan (1 mo. EURIBOR + 8.50%)(f)		4.00%		12/31/2027		EUR		438	455,592
									24,970,181
Lodging & Casinos–0.29%
Motel One (One Hotels GmbH) (Germany), Term Loan B (j)		-		04/02/2031		EUR		872	954,750
Nonferrous Metals & Minerals–0.23%
Form Technologies LLC, First Lien Term Loan (3 mo. SOFR + 9.00%)		14.70%		10/22/2025				1,044	774,354
Oil & Gas–1.88%
McDermott International Ltd.
LOC(f)(g)		0.00%		12/31/2026				1,045	956,421
LOC (3 mo. Term SOFR + 5.01%)(f)		10.31%		12/31/2026				327	286,274
LOC(g)		0.00%		06/30/2027				4,083	2,715,389
LOC (3 mo. USD LIBOR + 4.00%)(f)		9.56%		06/30/2027				1,438	754,679
PIK Term Loan, 3.00% PIK Rate, 6.44% Cash Rate(i)		3.00%		12/31/2027				1,155	399,861
Term Loan (3 mo. Term SOFR + 7.77%)(f)		13.09%		12/31/2026				1,049	1,048,643
Term Loan (1 mo. SOFR + 3.00%)		8.44%		06/30/2027				180	101,339
									6,262,606
Publishing–0.91%
Cengage Learning, Inc., Term Loan B (1 mo. SOFR + 4.25%)		9.54%		03/22/2031				986	991,453
Harbor Purchaser, Inc. (Houghton Mifflin Harcourt), First Lien Term Loan B (1 mo. SOFR + 5.25%)		10.70%		04/09/2029				2,115	2,058,500
									3,049,953
Radio & Television–0.22%
iHeartCommunications, Inc., Incremental Term Loan (1 mo. SOFR + 3.25%)		8.69%		05/01/2026				941	732,049
Nexstar Broadcasting, Inc., Term Loan B-4 (1 mo. SOFR + 2.50%)		7.94%		09/18/2026				1	319
									732,368
Surface Transport–0.29%
Hurtigruten Group A/S (Explorer II AS) (Norway), Term Loan A (3 mo. EURIBOR + 8.50%)		12.44%		02/22/2029		EUR		3,500	788,017
Reception Purchaser LLC (STG - XPOI Opportunity), Term Loan (3 mo. Term SOFR + 6.15%)		11.45%		03/24/2028				216	163,652
									951,669
Telecommunications–1.63%
Inmarsat Finance PLC (United Kingdom), Term Loan B (1 mo. SOFR + 4.50%)		9.82%		09/27/2029				703	674,321
MLN US HoldCo LLC (dba Mitel)
Second Lien Term Loan B-1 (3 mo. Term SOFR + 6.80%)		12.13%		10/18/2027				3,739	732,209
Term Loan (3 mo. Term SOFR + 3.46%)		11.87%		10/18/2027				1,610	972,845
Third Lien Term Loan (3 mo. Term SOFR + 9.35%)		14.68%		10/18/2027				1,875	204,630
Telesat LLC, Term Loan B-5 (3 mo. Term SOFR + 3.01%)		8.36%		12/07/2026				1,740	845,926
U.S. TelePacific Corp.
First Lien Term Loan (3 mo. Term SOFR + 1.15%)		6.49%		05/02/2026				1,040	421,248
Third Lien Term Loan(f)		0.00%		05/02/2027				100	0
Zayo Group Holdings, Inc., Incremental Term Loan (1 mo. SOFR + 4.32%)		9.65%		03/09/2027				1,828	1,609,500
									5,460,679
Utilities–0.43%
KAMC Holdings, Inc. (Franklin Energy Group), First Lien Term Loan B (3 mo. SOFR + 4.25%)		9.60%		08/14/2026				332	331,323

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
Utilities–(continued)
Lightstone Holdco LLC
Term Loan B (1 mo. SOFR + 5.75%)		11.08%		01/29/2027			$	1,074	$  1,049,485
Term Loan C (1 mo. SOFR + 5.75%)		11.08%		01/29/2027				61	59,352
									1,440,160
Total Variable Rate Senior Loan Interests (Cost $362,970,319)									330,471,213
							Shares
Common Stocks & Other Equity Interests–12.97%(m)
Aerospace & Defense–0.29%
IAP Worldwide Services(e)(f)								1,382,229	746,403
IAP Worldwide Services(e)(f)								221,331	221,331
IAP Worldwide Services, Inc. (Acquired 07/18/2014-08/18/2014; Cost $239,759)(f)(h)								220	0
NAC Aviation 8 Ltd. (Ireland)(f)								51,776	0
									967,734
Automotive–0.03%
Cabonline (Acquired 10/30/2023; Cost $2) (Sweden)(f)(h)								2,236,496	213
Cabonline (Sweden)(f)								1,908,761	92
Cabonline (Acquired 10/30/2023; Cost $57,053) (Sweden)(f)(h)								63,547,434	81,518
Muth Mirror Systems LLC(e)(f)								29,146	0
Muth Mirror Systems LLC, Wts.(e)(f)								195,471	0
									81,823
Building & Development–0.00%
Fagus Holdco PLC (Spain)(f)								5,422	0
Lake at Las Vegas Joint Venture LLC, Class A(f)								2,338	0
Lake at Las Vegas Joint Venture LLC, Class B(f)								28	0
									0
Business Equipment & Services–4.12%
Monitronics International, Inc.								116,589	2,471,687
My Alarm Center LLC, Class A (Acquired 03/09/2021-05/17/2024; Cost $4,158,157)(f)(h)								47,743	11,293,105
									13,764,792
Chemicals & Plastics–0.00%
Flint Group (ColourOz Inv) (Germany)(f)								18,948	0
Containers & Glass Products–0.02%
Keter Group B.V. (Netherlands)(f)								371,037,358	403
Libbey Glass LLC								13,797	68,985
									69,388
Electronics & Electrical–0.00%
Riverbed Technology LLC (Acquired 07/03/2023; Cost $5,458)(f)(h)								41,987	5,458
Financial Intermediaries–0.05%
RJO Holdings Corp.(f)								2,144	107,203
RJO Holdings Corp., Class A(f)								1,142	57,114
RJO Holdings Corp., Class B(f)								3,334	33
									164,350
Forest Products–1.28%
NewLife Forest Restoration LLC(f)								30,762	4,274,350
Health Care–0.00%
SDB Holdco, LLC (Specialty Dental Brands), Class A(e)								5,863,446	0
Home Furnishings–0.14%
Serta Simmons Bedding LLC								61,610	469,776

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

Invesco Dynamic Credit Opportunity Fund

							Shares		Value
Industrial Equipment–0.04%
North American Lifting Holdings, Inc.								62,889	$    139,142
Leisure Goods, Activities & Movies–4.41%
Crown Finance US, Inc.								115,725	2,054,119
Crown Finance US, Inc.								772	13,703
USF S&H Holdco LLC (Acquired 12/02/2019; Cost $8,016,709)(e)(f)(h)								11,114	12,672,521
Vue International Bidco PLC, Class A1 (United Kingdom)(f)								2,084	0
Vue International Bidco PLC, Class A2 (United Kingdom)(f)								1,026,420	1
Vue International Bidco PLC, Class A3 (United Kingdom)(f)								638,918	1
Vue International Bidco PLC, Class A4 (United Kingdom)(f)								445,416	1
									14,740,346
Oil & Gas–1.91%
McDermott International Ltd.(f)								447,919	93,615
Samson Investment Co., Class A (Acquired 03/01/2017; Cost $2,932,743)(f)(h)								163,748	18,012
Southcross Energy Partners L.P. (Acquired 07/29/2014-10/29/2020; Cost $749,269)(f)(h)								72,413	0
Talos Energy, Inc.(n)								466,074	5,597,549
Tribune Resources LLC (Acquired 04/03/2018; Cost $1,915,487)(h)								376,237	665,563
									6,374,739
Radio & Television–0.00%
iHeartMedia, Inc., Class B(f)(n)								42	79
Retailers (except Food & Drug)–0.07%
Claire’s Stores, Inc.								420	6,300
Toys ’R’ Us-Delaware, Inc.(f)								14	0
Vivarte S.A.S.U. (France)(f)								1,220,502	238,375
									244,675
Surface Transport–0.61%
Commercial Barge Line Co.(f)								8,956	971,726
Commercial Barge Line Co., Series B, Wts., expiring 04/30/2045(f)								59,072	36,920
Commercial Barge Line Co., Wts., expiring 04/27/2045(f)								9,414	1,021,419
									2,030,065
Total Common Stocks & Other Equity Interests (Cost $75,306,800)									43,326,717
	Interest Rate		Maturity Date		Principal Amount (000)(a)
Non-U.S. Dollar Denominated Bonds & Notes–10.48%(o)
Automotive–0.36%
Cabonline Group Holding AB (Sweden) (Acquired 10/13/2023; Cost $165,120)(h)(p)		14.00%		03/19/2026		SEK		1,909	185,907
Cabonline Group Holding AB (Sweden) (3 mo. STIBOR + 9.50%) (Acquired 03/24/2022; Cost $784,118)(h)(l)(p)(q)		13.44%		04/19/2026		SEK		7,380	646,949
Cabonline Group Holding AB (Sweden) (Acquired 10/12/2023; Cost $347,109)(h)(p)		14.00%		03/19/2026		SEK		3,818	371,815
									1,204,671
Building & Development–0.03%
Fagus Holdco PLC (Spain)(f)		0.00%		09/05/2029		EUR		89	97,023
Cable & Satellite Television–0.58%
Altice Finco S.A. (Luxembourg)(p)		4.75%		01/15/2028		EUR		2,932	1,945,226
Electronics & Electrical–1.32%
Castor S.p.A. (Italy)(p)		6.00%		02/15/2029		EUR		1,200	1,208,298
Castor S.p.A. (Italy) (3 mo. EURIBOR + 5.25%)(p)(q)		9.19%		02/15/2029		EUR		3,000	3,207,135
									4,415,433
Financial Intermediaries–7.30%
AnaCap (AFE S.A. SICAV-RAIF) (Italy) (3 mo. EURIBOR + 7.50%)(p)(q)		11.34%		07/15/2030		EUR		8,976	5,865,556
Garfunkelux Holdco 3 S.A. (Luxembourg) (3 mo. EURIBOR + 6.25%)(p)(q)		10.09%		05/01/2026		EUR		3,278	2,510,569
Garfunkelux Holdco 3 S.A. (Luxembourg) (3 mo. EURIBOR + 6.25%)(p)(q)		10.09%		05/01/2026		EUR		1,000	765,884

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
Financial Intermediaries–(continued)
Garfunkelux Holdco 3 S.A. (Luxembourg)(p)		6.75%		11/01/2025		EUR		4,345	$	3,355,904
Sherwood Financing PLC (United Kingdom) (3 mo. EURIBOR + 4.63%)(p)(q)		8.45%		11/15/2027		EUR		4,200		4,153,393
Very Group Funding PLC (The) (United Kingdom)(p)		6.50%		08/01/2026		GBP		5,493		5,874,785
Very Group Funding PLC (The) (United Kingdom)(p)		6.50%		08/01/2026		GBP		1,750		1,871,632
										24,397,723
Food Products–0.28%
Sigma Holdco B.V. (Netherlands)(p)		5.75%		05/15/2026		EUR		900		941,145
Industrial Equipment–0.61%
Summer (BC) Holdco A S.a.r.l. (United Kingdom)(p)		9.25%		10/31/2027		EUR		1,890		2,017,816
Total Non-U.S. Dollar Denominated Bonds & Notes (Cost $42,192,457)										35,019,037
							Shares
Preferred Stocks–2.80%(m)
Financial Intermediaries–0.07%
RJO Holdings Corp., Series A-2, Pfd.(f)								649		236,849
Health Care–0.26%
SDB Holdco LLC (Specialty Dental Brands), Pfd.(e)(f)								2,844,928		880,505
Oil & Gas–0.07%
McDermott International Ltd., Pfd.(f)								1,114		222,847
Southcross Energy Partners L.P., Series A, Pfd. (Acquired 05/07/2019-05/09/2019; Cost $285,287)(f)(h)								288,393		1,701
										224,548
Surface Transport–2.40%
Commercial Barge Line Co., Series B, Pfd.(f)								42,058		4,712,599
Commercial Barge Line Co., Series B, Pfd., Wts., expiring 04/27/2045(f)								29,536		3,309,509
										8,022,108
Total Preferred Stocks (Cost $2,831,369)										9,364,010
	Interest Rate		Maturity Date		Principal Amount (000)(a)
Asset-Backed Securities–1.51%
Structured Products–1.51%
Barings Euro CLO DAC, Series 2019-1A, Class ER (Ireland) (3 mo. EURIBOR + 7.21%) (o)(p)(q)		11.12%		04/15/2036		EUR		1,750		1,875,866
Empower CLO Ltd., Series 2023-2A, Class E (Cayman Islands) (3 mo. Term SOFR + 8.25%)(p)(q)		13.58%		07/15/2036			$	2,000		2,065,182
Jubilee CLO DAC, Series 2018-21A, Class ER (Ireland) (3 mo. EURIBOR + 6.07%)(o)(p)(q)		9.98%		04/15/2035		EUR		1,021		1,098,296
U.S. Dollar Denominated Bonds & Notes–1.17%
Aerospace & Defense–0.24%
Rand Parent LLC (p)		8.50%		02/15/2030				820		802,258
Building & Development–0.11%
Signal Parent, Inc. (p)		6.13%		04/01/2029				564		373,184
Food Products–0.32%
Teasdale Foods, Inc. (Acquired 12/18/2020-03/29/2024; Cost $2,631,323)(e)(f)(h)		16.25%		06/18/2026				2,686		1,077,155
Telecommunications–0.50%
Windstream Escrow LLC/Windstream Escrow Finance Corp. (p)		7.75%		08/15/2028				1,758		1,653,245
Total U.S. Dollar Denominated Bonds & Notes (Cost $5,586,816)										3,905,842
TOTAL INVESTMENTS IN SECURITIES–127.85% (Cost $494,010,340)										427,126,163
BORROWINGS–(24.54)%										(82,000,000	)
OTHER ASSETS LESS LIABILITIES–(3.31)%										(11,032,891	)
NET ASSETS–100.00%									$	334,093,272

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

Invesco Dynamic Credit Opportunity Fund

Investment Abbreviations:
CLO	- Collateralized Loan Obligation
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
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 Secured Overnight Financing Rate (“SOFR”), on set dates, typically every 30 days, but not greater than one year, and/or have interest rates that float at margin above a widely recognized base lending rate such as the Prime Rate of a designated U.S. bank.

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

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

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

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

^(h)  Restricted security. The aggregate value of these securities at May 31, 2024 was $46,874,334, which represented 14.03% of the Fund’s Net Assets.

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

^(j)  This variable rate interest will settle after May 31, 2024, at which time the interest rate will be determined.

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

^(l)  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, 2024 was $1,588,860, which represented less than 1% of the Fund’s Net Assets.

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

⁽ⁿ⁾  Non-income producing security.

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

^(p)  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, 2024 was $42,790,045, which represented 12.81% of the Fund’s Net Assets.

^(q)  Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on May 31, 2024.

The aggregate value of securities considered illiquid at May 31, 2024 was $245,713,558 which represented 73.55% of the Fund’s Net Assets.

Open Forward Foreign Currency Contracts
Settlement Date		Contract to						Unrealized Appreciation (Depreciation)
	Counterparty	Deliver			Receive
Currency Risk
07/31/2024	Bank of New York Mellon (The)		EUR	29,670,623		USD	32,340,118	$	63,163
06/28/2024	BNP Paribas S.A.		EUR	1,000,000		USD	1,089,063		2,879
06/28/2024	BNP Paribas S.A.		USD	1,265,243		SEK	13,504,900		19,533
06/28/2024	Canadian Imperial Bank of Commerce		USD	5,070,195		GBP	3,989,806		14,424
07/31/2024	Goldman Sachs International		EUR	29,670,623		USD	32,337,270		60,315
06/28/2024	JP Morgan Chase Bank		USD	2,674,191		EUR	2,500,000		41,269
06/28/2024	Morgan Stanley and Co. International PLC		EUR	6,808,228		USD	7,410,292		15,305
06/28/2024	Morgan Stanley and Co. International PLC		USD	4,967,493		GBP	3,908,382		13,359
06/28/2024	Morgan Stanley and Co. International PLC		USD	160		NOK	1,711		3
06/28/2024	Morgan Stanley and Co. International PLC		USD	42,053		SEK	453,676		1,107
07/31/2024	Morgan Stanley and Co. International PLC		EUR	29,227,778		USD	31,813,735		18,525
06/28/2024	Royal Bank of Canada		USD	4,904,494		GBP	3,858,334		12,576
07/31/2024	Royal Bank of Canada		EUR	140,410		USD	153,084		341

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

Invesco Dynamic Credit Opportunity Fund

Open Forward Foreign Currency Contracts–(continued)
Settlement Date		Contract to						Unrealized Appreciation (Depreciation)
	Counterparty	Deliver			Receive
07/31/2024	State Street Bank & Trust Co.		EUR	750,000		USD	816,014		$       132
07/31/2024	State Street Bank & Trust Co.		USD	144,974		GBP	113,877		175
Subtotal–Appreciation									263,106
Currency Risk
06/28/2024	Bank of New York Mellon (The)		USD	32,290,539		EUR	29,670,623		(62,786	)
06/28/2024	BNP Paribas S.A.		EUR	28,143,617		USD	30,110,405		(458,738	)
06/28/2024	BNP Paribas S.A.		GBP	3,746,405		USD	4,667,657		(106,771	)
07/31/2024	BNP Paribas S.A.		SEK	13,593,288		USD	1,275,637		(19,687	)
06/28/2024	Canadian Imperial Bank of Commerce		GBP	3,803,168		USD	4,731,416		(115,352	)
07/31/2024	Canadian Imperial Bank of Commerce		GBP	3,989,806		USD	5,071,467		(13,984	)
06/28/2024	Goldman Sachs International		USD	32,287,572		EUR	29,670,623		(59,819	)
06/28/2024	JP Morgan Chase Bank		NOK	1,711		USD	155		(8	)
07/31/2024	JP Morgan Chase Bank		EUR	1,250,000		USD	1,359,395		(407	)
06/28/2024	Morgan Stanley and Co. International PLC		EUR	27,723,563		USD	29,677,796		(435,091	)
06/28/2024	Morgan Stanley and Co. International PLC		SEK	137,477		USD	12,735		(344	)
06/28/2024	Morgan Stanley and Co. International PLC		USD	31,764,749		EUR	29,227,778		(18,007	)
07/31/2024	Morgan Stanley and Co. International PLC		GBP	3,908,382		USD	4,968,746		(12,920	)
07/31/2024	Morgan Stanley and Co. International PLC		NOK	1,711		USD	160		(3	)
06/28/2024	Royal Bank of Canada		GBP	4,081,726		USD	5,090,396		(111,367	)
07/31/2024	Royal Bank of Canada		GBP	3,858,334		USD	4,905,725		(12,150	)
06/28/2024	State Street Bank & Trust Co.		EUR	28,143,616		USD	30,062,589		(506,554	)
06/28/2024	State Street Bank & Trust Co.		GBP	125,222		USD	158,799		(784	)
06/28/2024	State Street Bank & Trust Co.		SEK	13,821,099		USD	1,261,396		(53,462	)
06/28/2024	State Street Bank & Trust Co.		USD	814,766		EUR	750,000		(128	)
07/31/2024	State Street Bank & Trust Co.		GBP	19,857		USD	25,253		(57	)
Subtotal–Depreciation									(1,988,419	)
Total Forward Foreign Currency Contracts									$(1,725,313	)

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, 2024

(Unaudited)

NOTE 1–Additional Valuation Information

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

Level 1 -	Prices are determined using quoted prices in an active market for identical assets.
Level 2 -	Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.
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, 2024. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the 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	$	–	$	122,927,394		$	207,543,819	$	330,471,213
Common Stocks & Other Equity Interests		5,597,549		5,889,275			31,839,893		43,326,717
Non-U.S. Dollar Denominated Bonds & Notes		–		34,922,014			97,023		35,019,037
Preferred Stocks		–		–			9,364,010		9,364,010
Asset-Backed Securities		–		5,039,344			–		5,039,344
U.S. Dollar Denominated Bonds & Notes		–		2,828,687			1,077,155		3,905,842
Total Investments in Securities		5,597,549		171,606,714			249,921,900		427,126,163
Other Investments - Assets*
Investments Matured		–		1,041,647			56,092		1,097,739
Forward Foreign Currency Contracts		–		263,106			–		263,106
		–		1,304,753			56,092		1,360,845
Other Investments - Liabilities*
Forward Foreign Currency Contracts		–		(1,988,419	)		–		(1,988,419	)
Total Other Investments		–		(683,666	)		56,092		(627,574	)
Total Investments	$	5,597,549	$	170,923,048		$	249,977,992	$	426,498,589

* 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, 2024:

	Value 02/29/24		Purchases at Cost		Proceeds from Sales			Accrued Discounts/ Premiums		Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Transfers into Level 3*		Transfers out of Level 3*			Value 05/31/24
Variable Rate Senior Loan Interests	$	209,861,254	$	12,046,825	$	(13,339,011	)		$119,795	$	(1,753,427	)		$  556,442		$	2,783,301	$	(2,731,360	)	$	207,543,819
Common Stocks & Other Equity Interests		28,279,026		5,839,402		(2,164,141	)		–		9,350			(123,744	)		–		–			31,839,893
Preferred Stocks		8,803,530		880,505		–			–		–			(320,025	)		–		–			9,364,010
U.S. Dollar Denominated Bonds & Notes		596,036		102,601		–			3,146		–			375,372			–		–			1,077,155
Non-U.S. Dollar Denominated Bonds & Notes		96,643		–		–			–		–			380			–		–			97,023
Investments Matured		307,903		–		(614,173	)		–		–			362,362			–		–			56,092
Municipal Obligations		3,173,155		–		(3,859,858	)		5,679		–			681,024			–		–			–
Total	$	251,117,547	$	18,869,333	$	(19,977,183	)		$128,620	$	(1,744,077	)		$1,531,811		$	2,783,301	$	(2,731,360	)	$	249,977,992

*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:

	Fair Value at 05/31/24		Valuation Technique		Unobservable Inputs	Range of Unobservable Inputs	Unobservable Input Used
FDH Group Acquisition, Inc., Term Loan A	$	21,958,597		Valuation Service	N/A	N/A	N/A	(a)
Keg Logistics LLC, Term Loan A		19,636,159		Valuation Service	N/A	N/A	N/A	(a)
Lightning Finco Ltd. (LiveU), Term Loan B-1		18,375,146		Valuation Service	N/A	N/A	N/A	(a)
Muth Mirror Systems LLC, Term Loan		15,023,933		Valuation Service	N/A	N/A	N/A	(a)
Teasdale Foods, Inc., Term Loan		14,777,462		Valuation Service	N/A	N/A	N/A	(a)
USF S&H Holdco LLC		12,672,521		Valuation Service	N/A	N/A	N/A	(a)
My Alarm Center LLC, Class A		11,293,105		Valuation Service	N/A	N/A	N/A	(b)
USF S&H Holdco LLC, Term Loan B		10,437,296		Valuation Service	N/A	N/A	N/A	(a)
NAS LLC (d.b.a. Nationwide Marketing Group), Term Loan		8,581,973		Valuation Service	N/A	N/A	N/A	(a)
Transtar Industries, Inc., Term Loan A		8,431,622		Valuation Service	N/A	N/A	N/A	(a)
CV Intermediate Holdco Corp. (Class Valuation), First Lien Term Loan		8,219,724		Valuation Service	N/A	N/A	N/A	(a)
CV Intermediate Holdco Corp. (Class Valuation), Delayed Draw Term Loan		7,982,614		Valuation Service	N/A	N/A	N/A	(a)
Lamark Media Group LLC, Term Loan		6,969,931		Valuation Service	N/A	N/A	N/A	(a)
V Global Holdings LLC (aka Vertellus), Term Loan		6,339,384		Valuation Service	N/A	N/A	N/A	(a)
SDB Holdco LLC (Specialty Dental Brands), Term Loan A		5,834,782		Valuation Service	N/A	N/A	N/A	(a)
Commercial Barge Line Co., Series B, Pfd.		4,712,599		Valuation Service	N/A	N/A	N/A	(b)
NewLife Forest Restoration LLC		4,274,350		Enterprise Value	N/A	N/A	138.95	(c)

^(a)  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.

^(b)  Securities classified as Level 3 whose unadjusted values were provided by a pricing service and for which such inputs are unobservable. The valuation is based on an enterprise value approach that utilizes a multiple of the last twelve months’ earnings before interest, taxes, depreciation and amortization of comparable public companies. 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)  The Adviser fair values certain common equity securities using an enterprise value approach that utilizes a multiple of the last twelve months’ earnings before interest, taxes, depreciation and amortization of comparable public companies. 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.

Invesco Dynamic Credit Opportunity Fund