Schedule of Investments(a)
March 31, 2024
(Unaudited)
Principal Amount | Value | |||
U.S. Dollar Denominated Bonds & Notes–47.95% | ||||
Advertising–0.01% | ||||
Interpublic Group of Cos., Inc. (The), 4.20%, 04/15/2024 | $3,000 | $2,998 | ||
WPP Finance 2010 (United Kingdom), 3.75%, 09/19/2024 | 4,000 | 3,960 | ||
6,958 | ||||
Aerospace & Defense–0.97% | ||||
BAE Systems Holdings, Inc. (United Kingdom), 3.85%, 12/15/2025(b) | 2,000 | 1,953 | ||
BAE Systems PLC (United Kingdom), | ||||
5.13%, 03/26/2029(b) | 200,000 | 200,791 | ||
5.30%, 03/26/2034(b) | 200,000 | 201,078 | ||
L3Harris Technologies, Inc., | ||||
5.40%, 07/31/2033 | 13,000 | 13,089 | ||
5.60%, 07/31/2053 | 13,000 | 13,206 | ||
Lockheed Martin Corp., | ||||
5.10%, 11/15/2027 | 9,000 | 9,106 | ||
4.50%, 02/15/2029 | 102,000 | 101,100 | ||
4.80%, 08/15/2034 | 147,000 | 145,449 | ||
5.90%, 11/15/2063 | 5,000 | 5,484 | ||
RTX Corp., | ||||
5.75%, 01/15/2029 | 50,000 | 51,770 | ||
6.00%, 03/15/2031 | 23,000 | 24,192 | ||
5.15%, 02/27/2033 | 46,000 | 46,112 | ||
6.40%, 03/15/2054 | 25,000 | 28,308 | ||
TransDigm, Inc., | ||||
6.75%, 08/15/2028(b) | 124,000 | 125,792 | ||
6.38%, 03/01/2029(b) | 183,000 | 183,799 | ||
6.63%, 03/01/2032(b) | 135,000 | 136,558 | ||
1,287,787 | ||||
Agricultural & Farm Machinery–0.09% | ||||
AGCO Corp., | ||||
5.45%, 03/21/2027 | 20,000 | 20,098 | ||
5.80%, 03/21/2034 | 96,000 | 97,243 | ||
117,341 | ||||
Application Software–0.14% | ||||
Constellation Software, Inc. (Canada), 5.46%, 02/16/2034(b) | 78,000 | 78,547 | ||
Intuit, Inc., | ||||
5.20%, 09/15/2033 | 60,000 | 61,137 | ||
5.50%, 09/15/2053 | 40,000 | 41,553 | ||
181,237 | ||||
Asset Management & Custody Banks–0.53% | ||||
Ameriprise Financial, Inc., | ||||
5.70%, 12/15/2028 | 91,000 | 93,921 | ||
5.15%, 05/15/2033 | 49,000 | 49,532 | ||
Ares Capital Corp., 5.88%, 03/01/2029 | 84,000 | 83,792 |
Principal Amount | Value | |||
Asset Management & Custody Banks–(continued) | ||||
Bank of New York Mellon Corp. (The), | ||||
4.98%, 03/14/2030(c) | $49,000 | $49,062 | ||
5.83%, 10/25/2033(c) | 10,000 | 10,447 | ||
5.19%, 03/14/2035(c) | 39,000 | 38,835 | ||
Series J, 4.97%, 04/26/2034(c) | 24,000 | 23,569 | ||
Series I, 3.75%(c)(d) | 6,000 | 5,515 | ||
Blackstone Secured Lending Fund, 2.13%, 02/15/2027 | 106,000 | 95,649 | ||
Brookfield Corp. (Canada), 4.00%, 01/15/2025 | 4,000 | 3,949 | ||
Northern Trust Corp., 6.13%, 11/02/2032 | 8,000 | 8,455 | ||
State Street Corp., | ||||
5.68%, 11/21/2029(c) | 149,000 | 153,075 | ||
6.12%, 11/21/2034(c) | 87,000 | 90,742 | ||
706,543 | ||||
Automobile Manufacturers–2.21% | ||||
American Honda Finance Corp., 4.90%, 01/10/2034 | 54,000 | 53,197 | ||
Daimler Truck Finance North America LLC (Germany), | ||||
5.15%, 01/16/2026(b) | 150,000 | 149,515 | ||
5.00%, 01/15/2027(b) | 150,000 | 149,620 | ||
Ford Motor Credit Co. LLC, | ||||
6.95%, 06/10/2026 | 242,000 | 247,326 | ||
7.35%, 11/04/2027 | 209,000 | 219,296 | ||
6.80%, 05/12/2028 | 339,000 | 352,373 | ||
6.80%, 11/07/2028 | 200,000 | 208,873 | ||
7.20%, 06/10/2030 | 49,000 | 52,040 | ||
7.12%, 11/07/2033 | 204,000 | 219,641 | ||
Hyundai Capital America, | ||||
5.88%, 04/07/2025(b) | 2,000 | 2,004 | ||
5.60%, 03/30/2028(b) | 37,000 | 37,438 | ||
5.35%, 03/19/2029(b) | 52,000 | 52,218 | ||
5.80%, 04/01/2030(b) | 6,000 | 6,145 | ||
Mercedes-Benz Finance North America LLC (Germany), | ||||
5.10%, 08/03/2028(b) | 256,000 | 257,101 | ||
4.85%, 01/11/2029(b) | 145,000 | 144,331 | ||
5.00%, 01/11/2034(b) | 150,000 | 148,819 | ||
Toyota Motor Credit Corp., | ||||
5.25%, 09/11/2028 | 34,000 | 34,604 | ||
5.10%, 03/21/2031 | 162,000 | 163,349 | ||
Volkswagen Group of America Finance LLC (Germany), | ||||
5.25%, 03/22/2029(b) | 200,000 | 200,234 | ||
5.60%, 03/22/2034(b) | 236,000 | 238,487 | ||
2,936,611 | ||||
Automotive Parts & Equipment–0.48% | ||||
ERAC USA Finance LLC, | ||||
5.00%, 02/15/2029(b) | 79,000 | 79,178 | ||
4.90%, 05/01/2033(b) | 46,000 | 45,118 | ||
5.20%, 10/30/2034(b) | 113,000 | 112,721 |
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Core Plus Bond Fund
Principal Amount | Value | |||
Automotive Parts & Equipment–(continued) | ||||
ZF North America Capital, Inc. (Germany), | ||||
6.88%, 04/14/2028(b) | $150,000 | $155,726 | ||
7.13%, 04/14/2030(b) | 235,000 | 247,840 | ||
640,583 | ||||
Automotive Retail–0.07% | ||||
Advance Auto Parts, Inc., 5.95%, 03/09/2028 | 62,000 | 62,024 | ||
AutoZone, Inc., 5.20%, 08/01/2033 | 30,000 | 30,064 | ||
92,088 | ||||
Biotechnology–0.72% | ||||
AbbVie, Inc., | ||||
3.85%, 06/15/2024 | 3,000 | 2,988 | ||
4.80%, 03/15/2029 | 142,000 | 142,284 | ||
4.95%, 03/15/2031 | 147,000 | 148,123 | ||
5.05%, 03/15/2034 | 108,000 | 109,389 | ||
5.35%, 03/15/2044 | 70,000 | 71,422 | ||
5.40%, 03/15/2054 | 175,000 | 180,269 | ||
5.50%, 03/15/2064 | 137,000 | 141,008 | ||
Amgen, Inc., | ||||
5.15%, 03/02/2028 | 37,000 | 37,255 | ||
5.25%, 03/02/2030 | 10,000 | 10,156 | ||
5.65%, 03/02/2053 | 37,000 | 37,728 | ||
Gilead Sciences, Inc., | ||||
5.25%, 10/15/2033 | 57,000 | 58,200 | ||
5.55%, 10/15/2053 | 21,000 | 21,753 | ||
960,575 | ||||
Brewers–0.00% | ||||
Anheuser-Busch InBev Worldwide, Inc. (Belgium), 8.20%, 01/15/2039 | 3,000 | 3,896 | ||
Building Products–0.05% | ||||
Carrier Global Corp., 5.90%, 03/15/2034 | 18,000 | 18,926 | ||
Lennox International, Inc., 5.50%, 09/15/2028 | 50,000 | 50,714 | ||
69,640 | ||||
Cable & Satellite–0.43% | ||||
CCO Holdings LLC/CCO Holdings Capital Corp., | ||||
6.38%, 09/01/2029(b) | 225,000 | 213,613 | ||
7.38%, 03/01/2031(b) | 136,000 | 133,458 | ||
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., 6.65%, 02/01/2034 | 99,000 | 101,521 | ||
Comcast Corp., 5.50%, 11/15/2032 | 14,000 | 14,514 | ||
Cox Communications, Inc., | ||||
5.70%, 06/15/2033(b) | 10,000 | 10,123 | ||
5.80%, 12/15/2053(b) | 100,000 | 99,198 | ||
572,427 |
Principal Amount | Value | |||
Cargo Ground Transportation–0.27% | ||||
Penske Truck Leasing Co. L.P./PTL Finance Corp., | ||||
4.00%, 07/15/2025(b) | $4,000 | $3,919 | ||
5.75%, 05/24/2026(b) | 8,000 | 8,060 | ||
5.35%, 01/12/2027(b) | 9,000 | 9,011 | ||
5.70%, 02/01/2028(b) | 8,000 | 8,112 | ||
5.55%, 05/01/2028(b) | 30,000 | 30,338 | ||
6.05%, 08/01/2028(b) | 35,000 | 36,034 | ||
6.20%, 06/15/2030(b) | 10,000 | 10,404 | ||
Ryder System, Inc., 6.60%, 12/01/2033 | 50,000 | 54,257 | ||
SMBC Aviation Capital Finance DAC (Ireland), 5.30%, 04/03/2029(b) | 200,000 | 199,635 | ||
359,770 | ||||
Commercial & Residential Mortgage Finance–0.27% | ||||
Aviation Capital Group LLC, 6.25%, 04/15/2028(b) | 21,000 | 21,449 | ||
Nationwide Building Society (United Kingdom), 6.56%, 10/18/2027(b)(c) | 200,000 | 205,260 | ||
Radian Group, Inc., 6.20%, 05/15/2029 | 127,000 | 128,972 | ||
355,681 | ||||
Communications Equipment–0.03% | ||||
Cisco Systems, Inc., 5.30%, 02/26/2054 | 36,000 | 36,981 | ||
Computer & Electronics Retail–0.01% | ||||
Dell International LLC/EMC Corp., | ||||
6.02%, 06/15/2026 | 2,000 | 2,027 | ||
5.30%, 10/01/2029 | 4,000 | 4,050 | ||
6,077 | ||||
Construction Machinery & Heavy Transportation Equipment– 0.16% | ||||
Cummins, Inc., | ||||
4.90%, 02/20/2029 | 46,000 | 46,291 | ||
5.15%, 02/20/2034 | 68,000 | 68,659 | ||
5.45%, 02/20/2054 | 92,000 | 94,127 | ||
209,077 | ||||
Consumer Finance–0.41% | ||||
Capital One Financial Corp., | ||||
7.15%, 10/29/2027(c) | 43,000 | 44,762 | ||
6.31%, 06/08/2029(c) | 37,000 | 38,051 | ||
7.62%, 10/30/2031(c) | 50,000 | 55,260 | ||
6.38%, 06/08/2034(c) | 31,000 | 32,214 | ||
FirstCash, Inc., 6.88%, 03/01/2032(b) | 371,000 | 371,291 | ||
General Motors Financial Co., Inc., 5.40%, 04/06/2026 | 5,000 | 5,003 | ||
Synchrony Financial, 4.25%, 08/15/2024 | 4,000 | 3,975 | ||
550,556 | ||||
Consumer Staples Merchandise Retail–0.01% | ||||
Dollar General Corp., 5.50%, 11/01/2052 | 7,000 | 6,653 | ||
Target Corp., 4.80%, 01/15/2053 | 9,000 | 8,475 | ||
15,128 |
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Core Plus Bond Fund
Principal Amount | Value | |||
Data Processing & Outsourced Services–0.01% | ||||
Concentrix Corp., 6.85%, 08/02/2033 | $16,000 | $15,914 | ||
Distillers & Vintners–0.01% | ||||
Constellation Brands, Inc., 4.90%, 05/01/2033 | 6,000 | 5,889 | ||
Distributors–0.15% | ||||
Genuine Parts Co., | ||||
6.50%, 11/01/2028 | 118,000 | 124,706 | ||
6.88%, 11/01/2033 | 70,000 | 77,450 | ||
202,156 | ||||
Diversified Banks–12.28% | ||||
Australia and New Zealand Banking Group Ltd. (Australia), 6.74%, 12/08/2032(b)(e) | 387,000 | 416,079 | ||
Banco Bilbao Vizcaya Argentaria S.A. (Spain), | ||||
7.88%, 11/15/2034(c) | 200,000 | 218,984 | ||
9.38%(c)(d) | 200,000 | 215,592 | ||
Banco Santander S.A. (Spain), | ||||
6.53%, 11/07/2027(c) | 200,000 | 205,202 | ||
5.55%, 03/14/2028(c) | 200,000 | 200,104 | ||
5.54%, 03/14/2030(c) | 400,000 | 400,104 | ||
6.35%, 03/14/2034 | 200,000 | 200,287 | ||
9.63%(c)(d) | 400,000 | 427,972 | ||
9.63%(c)(d) | 400,000 | 441,583 | ||
Bank of America Corp., | ||||
6.41% (SOFR + 1.05%), 02/04/2028(f) | 5,000 | 5,035 | ||
4.95%, 07/22/2028(c) | 6,000 | 5,956 | ||
5.20%, 04/25/2029(c) | 68,000 | 68,085 | ||
4.27%, 07/23/2029(c) | 4,000 | 3,857 | ||
5.82%, 09/15/2029(c) | 88,000 | 90,262 | ||
5.02%, 07/22/2033(c) | 8,000 | 7,877 | ||
5.29%, 04/25/2034(c) | 26,000 | 25,932 | ||
5.47%, 01/23/2035(c) | 60,000 | 60,414 | ||
7.75%, 05/14/2038 | 232,000 | 281,681 | ||
Bank of Montreal (Canada), | ||||
5.30%, 06/05/2026 | 16,000 | 16,048 | ||
7.70%, 05/26/2084(c)(e) | 365,000 | 370,202 | ||
Bank of Nova Scotia (The) (Canada), | ||||
8.63%, 10/27/2082(c) | 306,000 | 319,373 | ||
8.00%, 01/27/2084(c) | 54,000 | 55,084 | ||
Barclays PLC (United Kingdom), 6.69%, 09/13/2034(c) | 207,000 | 220,631 | ||
BBVA Bancomer S.A. (Mexico), 8.13%, 01/08/2039(b)(c) | 225,000 | 233,257 | ||
BPCE S.A. (France), | ||||
5.92% (SOFR + 0.57%), 01/14/2025(b)(f) | 250,000 | 250,436 | ||
5.20%, 01/18/2027(b) | 250,000 | 250,588 | ||
5.72%, 01/18/2030(b)(c) | 253,000 | 254,323 | ||
6.51%, 01/18/2035(b)(c) | 250,000 | 254,276 |
Principal Amount | Value | ||
Diversified Banks–(continued) | |||
Citigroup, Inc., | |||
4.08%, 04/23/2029(c) | $5,000 | $4,788 | |
5.17%, 02/13/2030(c) | 90,000 | 89,607 | |
6.17%, 05/25/2034(c) | 67,000 | 68,073 | |
5.83%, 02/13/2035(c) | 250,000 | 247,617 | |
7.38%(c)(d) | 245,000 | 255,354 | |
7.63%(c)(d) | 221,000 | 232,573 | |
Series BB, 7.20%(c)(d) | 261,000 | 268,311 | |
Series V, 4.70%(c)(d) | 112,000 | 109,535 | |
Comerica, Inc., 5.98%, 01/30/2030(c) | 49,000 | 48,441 | |
Cooperatieve Rabobank U.A. (Netherlands), 3.65%, 04/06/2028(b)(c) | 250,000 | 238,124 | |
Credit Agricole S.A. (France), | |||
4.38%, 03/17/2025(b) | 310,000 | 305,316 | |
5.34%, 01/10/2030(b)(c)(e) | 317,000 | 316,194 | |
6.25%, 01/10/2035(b)(c) | 250,000 | 254,284 | |
Discover Bank, 4.65%, 09/13/2028 | 116,000 | 112,332 | |
Federation des caisses Desjardins du Quebec (Canada), 4.55%, 08/23/2027(b) | 337,000 | 332,550 | |
Fifth Third Bancorp, | |||
2.38%, 01/28/2025 | 9,000 | 8,763 | |
1.71%, 11/01/2027(c) | 9,000 | 8,192 | |
6.34%, 07/27/2029(c) | 8,000 | 8,250 | |
4.77%, 07/28/2030(c) | 23,000 | 22,149 | |
5.63%, 01/29/2032(c) | 14,000 | 14,024 | |
HSBC Holdings PLC (United Kingdom), | |||
5.21%, 08/11/2028(c) | 207,000 | 206,473 | |
6.33%, 03/09/2044(c) | 315,000 | 338,064 | |
6.00%(c)(d) | 200,000 | 193,014 | |
ING Groep N.V. (Netherlands), | |||
5.34%, 03/19/2030(c) | 200,000 | 199,583 | |
5.55%, 03/19/2035(c) | 288,000 | 285,944 | |
JPMorgan Chase & Co., | |||
3.63%, 12/01/2027 | 2,000 | 1,905 | |
3.78%, 02/01/2028(c) | 3,000 | 2,890 | |
4.85%, 07/25/2028(c) | 8,000 | 7,935 | |
5.30%, 07/24/2029(c) | 54,000 | 54,423 | |
6.09%, 10/23/2029(c) | 70,000 | 72,799 | |
5.01%, 01/23/2030(c) | 37,000 | 36,864 | |
5.72%, 09/14/2033(c) | 20,000 | 20,407 | |
6.25%, 10/23/2034(c) | 108,000 | 115,436 | |
5.34%, 01/23/2035(c) | 25,000 | 25,107 | |
Series W, 6.57% (3 mo. Term SOFR + 1.26%), 05/15/2047(f) | 6,000 | 5,349 | |
Series NN, 6.88%(c)(d) | 174,000 | 180,485 | |
KeyCorp, | |||
3.88%, 05/23/2025(c) | 23,000 | 22,897 | |
2.55%, 10/01/2029 | 11,000 | 9,302 | |
Lloyds Banking Group PLC (United Kingdom), 5.68%, 01/05/2035(c) | 210,000 | 211,367 | |
Manufacturers & Traders Trust Co., 4.70%, 01/27/2028 | 230,000 | 221,738 | |
Mitsubishi UFJ Financial Group, Inc. (Japan), | |||
5.02%, 07/20/2028(c) | 200,000 | 199,365 | |
8.20%(c)(d) | 359,000 | 388,260 | |
Mizuho Financial Group, Inc. (Japan), 5.78%, 07/06/2029(c) | 200,000 | 204,481 |
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Core Plus Bond Fund
Principal Amount | Value | ||
Diversified Banks–(continued) | |||
Morgan Stanley Bank N.A., 5.88%, 10/30/2026 | $291,000 | $296,682 | |
Multibank, Inc. (Panama), 7.75%, 02/03/2028(b) | 200,000 | 202,011 | |
PNC Financial Services Group, Inc. (The), | |||
6.62%, 10/20/2027(c) | 72,000 | 74,147 | |
5.58%, 06/12/2029(c) | 60,000 | 60,748 | |
6.04%, 10/28/2033(c) | 8,000 | 8,276 | |
5.07%, 01/24/2034(c) | 13,000 | 12,598 | |
6.88%, 10/20/2034(c) | 60,000 | 65,736 | |
Series V, 6.20%(c)(d) | 27,000 | 26,997 | |
Series W, 6.25%(c)(d) | 50,000 | 48,584 | |
Royal Bank of Canada (Canada), | |||
6.06% (SOFR + 0.71%), 01/21/2027(f) | 5,000 | 5,006 | |
4.95%, 02/01/2029 | 20,000 | 20,060 | |
5.00%, 02/01/2033 | 15,000 | 14,955 | |
Societe Generale S.A. (France), | |||
6.07%, 01/19/2035(b)(c) | 200,000 | 201,332 | |
7.13%, 01/19/2055(b)(c) | 212,000 | 211,801 | |
8.50%(b)(c)(d) | 353,000 | 352,117 | |
Standard Chartered PLC (United Kingdom), | |||
6.19%, 07/06/2027(b)(c) | 200,000 | 202,075 | |
7.75%(b)(c)(d) | 288,000 | 292,390 | |
Sumitomo Mitsui Financial Group, Inc. (Japan), 6.60%(c)(d) | 285,000 | 286,074 | |
Sumitomo Mitsui Trust Bank Ltd. (Japan), | |||
5.65%, 09/14/2026(b) | 200,000 | 201,983 | |
5.55%, 09/14/2028(b) | 237,000 | 241,618 | |
5.20%, 03/07/2029(b) | 200,000 | 201,450 | |
5.35%, 03/07/2034(b) | 200,000 | 204,018 | |
Synovus Bank, 5.63%, 02/15/2028 | 250,000 | 242,917 | |
Toronto-Dominion Bank (The) (Canada), 8.13%, 10/31/2082(c) | 247,000 | 259,684 | |
U.S. Bancorp, | |||
5.78%, 06/12/2029(c) | 48,000 | 48,851 | |
5.38%, 01/23/2030(c) | 71,000 | 71,332 | |
4.97%, 07/22/2033(c) | 10,000 | 9,459 | |
4.84%, 02/01/2034(c) | 40,000 | 38,002 | |
5.84%, 06/12/2034(c) | 46,000 | 46,903 | |
5.68%, 01/23/2035(c) | 47,000 | 47,477 | |
UBS AG (Switzerland), 5.65%, 09/11/2028 | 200,000 | 204,830 | |
Wells Fargo & Co., | |||
4.81%, 07/25/2028(c) | 8,000 | 7,885 | |
5.57%, 07/25/2029(c) | 38,000 | 38,462 | |
6.30%, 10/23/2029(c) | 49,000 | 51,052 | |
5.20%, 01/23/2030(c) | 41,000 | 40,925 | |
4.90%, 07/25/2033(c) | 8,000 | 7,712 | |
5.39%, 04/24/2034(c) | 22,000 | 21,871 | |
5.56%, 07/25/2034(c) | 101,000 | 101,434 | |
6.49%, 10/23/2034(c) | 123,000 | 131,985 | |
5.50%, 01/23/2035(c) | 58,000 | 58,158 | |
7.63%(c)(d) | 46,000 | 49,276 | |
Westpac Banking Corp. (Australia), 6.82%, 11/17/2033 | 157,000 | 170,799 | |
16,327,461 | |||
Diversified Capital Markets–1.45% | |||
Credit Suisse AG (Switzerland), 3.63%, 09/09/2024 | 189,000 | 187,255 |
Principal Amount | Value | |||
Diversified Capital Markets–(continued) | ||||
SMBC Aviation Capital Finance DAC (Ireland), 5.55%, 04/03/2034(b) | $388,000 | $385,652 | ||
UBS Group AG (Switzerland), | ||||
5.43%, 02/08/2030(b)(c) | 200,000 | 200,360 | ||
6.30%, 09/22/2034(b)(c) | 217,000 | 227,275 | ||
5.70%, 02/08/2035(b)(c) | 200,000 | 201,103 | ||
7.75%(b)(c)(d) | 275,000 | 283,516 | ||
9.25%(b)(c)(d) | 201,000 | 227,338 | ||
9.25%(b)(c)(d) | 200,000 | 217,195 | ||
1,929,694 | ||||
Diversified Financial Services–1.27% | ||||
Apollo Debt Solutions BDC, 6.90%, 04/13/2029(b) | 30,000 | 30,307 | ||
Apollo Global Management, Inc., 6.38%, 11/15/2033 | 79,000 | 85,020 | ||
Aviation Capital Group LLC, 6.75%, 10/25/2028(b) | 73,000 | 76,167 | ||
Avolon Holdings Funding Ltd. (Ireland), 5.75%, 03/01/2029(b) | 185,000 | 184,233 | ||
Blue Owl Technology Finance Corp. II, 6.75%, 04/04/2029(b) | 447,000 | 441,732 | ||
Corebridge Financial, Inc., | ||||
6.05%, 09/15/2033(b) | 55,000 | 56,709 | ||
5.75%, 01/15/2034 | 97,000 | 99,029 | ||
Gabon Blue Bond Master Trust, Series 2, 6.10%, 08/01/2038(b) | 341,000 | 340,103 | ||
Macquarie Airfinance Holdings Ltd. (United Kingdom), | ||||
6.40%, 03/26/2029(b) | 59,000 | 59,977 | ||
6.50%, 03/26/2031(b) | 69,000 | 70,282 | ||
OPEC Fund for International Development (The) (Supranational), 4.50%, 01/26/2026(b) | 245,000 | 242,098 | ||
1,685,657 | ||||
Diversified Metals & Mining–0.61% | ||||
BHP Billiton Finance (USA) Ltd. (Australia), | ||||
5.10%, 09/08/2028 | 75,000 | 75,884 | ||
5.25%, 09/08/2030 | 54,000 | 54,942 | ||
5.25%, 09/08/2033 | 97,000 | 98,181 | ||
5.50%, 09/08/2053 | 26,000 | 26,889 | ||
Corporacion Nacional del Cobre de Chile (Chile), 5.13%, 02/02/2033(b) | 200,000 | 190,898 | ||
Glencore Funding LLC (Australia), | ||||
5.37%, 04/04/2029(b) | 103,000 | 103,240 | ||
5.63%, 04/04/2034(b) | 187,000 | 187,598 | ||
5.89%, 04/04/2054(b) | 77,000 | 78,080 | ||
815,712 | ||||
Diversified REITs–0.22% | ||||
Brixmor Operating Partnership L.P., 4.13%, 05/15/2029 | 3,000 | 2,830 | ||
Trust Fibra Uno (Mexico), 5.25%, 01/30/2026(b) | 200,000 | 195,311 | ||
VICI Properties L.P., | ||||
5.75%, 04/01/2034 | 43,000 | 42,633 | ||
6.13%, 04/01/2054 | 46,000 | 45,417 | ||
286,191 |
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Core Plus Bond Fund
Principal Amount | Value | |||
Diversified Support Services–0.18% | ||||
Element Fleet Management Corp. (Canada), 6.32%, 12/04/2028(b) | $67,000 | $69,239 | ||
Ritchie Bros. Holdings, Inc. (Canada), | ||||
6.75%, 03/15/2028(b) | 35,000 | 35,746 | ||
7.75%, 03/15/2031(b) | 126,000 | 131,984 | ||
236,969 | ||||
Drug Retail–0.21% | ||||
CK Hutchison International (23) Ltd. (United Kingdom), 4.88%, 04/21/2033(b) | 215,000 | 213,204 | ||
CVS Pass-Through Trust, 5.77%, 01/10/2033(b) | 70,387 | 69,729 | ||
282,933 | ||||
Electric Utilities–2.90% | ||||
AEP Texas, Inc., 3.95%, 06/01/2028(b) | 162,000 | 154,715 | ||
Alabama Power Co., 5.85%, 11/15/2033 | 14,000 | 14,752 | ||
Alexander Funding Trust II, 7.47%, 07/31/2028(b) | 202,000 | 213,731 | ||
American Electric Power Co., Inc., | ||||
5.75%, 11/01/2027 | 9,000 | 9,212 | ||
5.20%, 01/15/2029 | 66,000 | 66,193 | ||
CenterPoint Energy Houston Electric LLC, | ||||
5.20%, 10/01/2028 | 24,000 | 24,425 | ||
Series AJ, 4.85%, 10/01/2052 | 8,000 | 7,482 | ||
Consolidated Edison Co. of New York, Inc., | ||||
5.50%, 03/15/2034 | 36,000 | 37,204 | ||
5.90%, 11/15/2053 | 50,000 | 53,403 | ||
Constellation Energy Generation LLC, | ||||
6.13%, 01/15/2034 | 16,000 | 16,906 | ||
6.50%, 10/01/2053 | 13,000 | 14,313 | ||
5.75%, 03/15/2054 | 123,000 | 123,293 | ||
Dominion Energy South Carolina, Inc., 6.25%, 10/15/2053 | 20,000 | 22,407 | ||
Duke Energy Carolinas LLC, 5.35%, 01/15/2053 | 9,000 | 8,886 | ||
Duke Energy Corp., | ||||
4.85%, 01/05/2029 | 70,000 | 69,376 | ||
5.00%, 08/15/2052 | 8,000 | 7,249 | ||
Duke Energy Indiana LLC, 5.40%, 04/01/2053 | 21,000 | 20,629 | ||
Edison International, 7.88%, 06/15/2054(c) | 184,000 | 189,488 | ||
Electricite de France S.A. (France), 9.13%(b)(c)(d) | 200,000 | 220,837 | ||
Enel Finance International N.V. (Italy), 6.80%, 10/14/2025(b) | 200,000 | 204,081 | ||
Evergy Metro, Inc., 4.95%, 04/15/2033 | 10,000 | 9,860 | ||
Eversource Energy, 5.50%, 01/01/2034 | 61,000 | 61,048 | ||
Exelon Corp., | ||||
5.15%, 03/15/2029 | 70,000 | 70,188 | ||
5.45%, 03/15/2034 | 68,000 | 68,486 | ||
5.60%, 03/15/2053 | 83,000 | 82,913 | ||
FirstEnergy Pennsylvania Electric Co., 5.20%, 04/01/2028(b) | 5,000 | 5,008 | ||
Florida Power & Light Co., 4.80%, 05/15/2033 | 9,000 | 8,869 |
Principal Amount | Value | |||
Electric Utilities–(continued) | ||||
Georgia Power Co., 4.95%, 05/17/2033 | $13,000 | $12,825 | ||
MidAmerican Energy Co., | ||||
5.35%, 01/15/2034 | 10,000 | 10,299 | ||
5.85%, 09/15/2054 | 23,000 | 24,561 | ||
5.30%, 02/01/2055 | 69,000 | 68,306 | ||
National Rural Utilities Cooperative Finance Corp., | ||||
4.85%, 02/07/2029 | 115,000 | 115,001 | ||
5.00%, 02/07/2031 | 108,000 | 107,342 | ||
5.80%, 01/15/2033 | 5,000 | 5,205 | ||
NextEra Energy Capital Holdings, Inc., | ||||
6.05%, 03/01/2025 | 24,000 | 24,099 | ||
4.90%, 03/15/2029 | 174,000 | 173,363 | ||
5.25%, 03/15/2034 | 182,000 | 181,667 | ||
5.55%, 03/15/2054 | 176,000 | 174,985 | ||
Niagara Mohawk Power Corp., | ||||
5.29%, 01/17/2034(b) | 69,000 | 67,935 | ||
5.66%, 01/17/2054(b) | 25,000 | 24,894 | ||
Oklahoma Gas and Electric Co., 5.60%, 04/01/2053 | 8,000 | 8,046 | ||
Oncor Electric Delivery Co. LLC, 5.65%, 11/15/2033 | 59,000 | 61,412 | ||
PacifiCorp, | ||||
5.10%, 02/15/2029 | 70,000 | 70,558 | ||
5.30%, 02/15/2031 | 57,000 | 57,203 | ||
5.45%, 02/15/2034 | 86,000 | 86,321 | ||
5.80%, 01/15/2055 | 68,000 | 67,122 | ||
Public Service Co. of Colorado, 5.25%, 04/01/2053 | 14,000 | 13,305 | ||
Public Service Co. of New Hampshire, 5.35%, 10/01/2033 | 19,000 | 19,387 | ||
Public Service Electric and Gas Co., 5.13%, 03/15/2053 | 10,000 | 9,846 | ||
San Diego Gas & Electric Co., | ||||
5.35%, 04/01/2053 | 49,000 | 48,308 | ||
5.55%, 04/15/2054 | 147,000 | 149,221 | ||
Sierra Pacific Power Co., 5.90%, 03/15/2054(b) | 13,000 | 13,465 | ||
Southern Co. (The), 5.70%, 10/15/2032 | 6,000 | 6,191 | ||
Southwestern Electric Power Co., 5.30%, 04/01/2033 | 13,000 | 12,852 | ||
Union Electric Co., 5.20%, 04/01/2034 | 205,000 | 205,471 | ||
Virginia Electric & Power Co., | ||||
5.00%, 04/01/2033 | 13,000 | 12,834 | ||
5.35%, 01/15/2054 | 50,000 | 49,047 | ||
Vistra Operations Co. LLC, | ||||
7.75%, 10/15/2031(b) | 134,000 | 140,433 | ||
6.95%, 10/15/2033(b) | 49,000 | 52,346 | ||
3,858,804 | ||||
Electrical Components & Equipment–0.20% | ||||
Regal Rexnord Corp., | ||||
6.30%, 02/15/2030(b) | 9,000 | 9,221 | ||
6.40%, 04/15/2033(b) | 40,000 | 41,525 | ||
Sociedad Quimica y Minera de Chile S.A. (Chile), 6.50%, 11/07/2033(b) | 210,000 | 219,901 | ||
270,647 |
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Core Plus Bond Fund
Principal Amount | Value | |||
Electronic Manufacturing Services–0.20% | ||||
EMRLD Borrower L.P./Emerald Co-Issuer, Inc., 6.63%, 12/15/2030(b) | $259,000 | $261,808 | ||
Environmental & Facilities Services–0.25% | ||||
Republic Services, Inc., | ||||
4.88%, 04/01/2029 | 73,000 | 73,144 | ||
5.00%, 12/15/2033 | 68,000 | 67,562 | ||
5.00%, 04/01/2034 | 8,000 | 7,945 | ||
Veralto Corp., | ||||
5.50%, 09/18/2026(b) | 74,000 | 74,316 | ||
5.35%, 09/18/2028(b) | 70,000 | 70,949 | ||
5.45%, 09/18/2033(b) | 39,000 | 39,505 | ||
333,421 | ||||
Financial Exchanges & Data–0.06% | ||||
Intercontinental Exchange, Inc., | ||||
4.95%, 06/15/2052 | 5,000 | 4,758 | ||
5.20%, 06/15/2062 | 15,000 | 14,744 | ||
Moody’s Corp., 5.25%, 07/15/2044 | 2,000 | 1,972 | ||
Nasdaq, Inc., | ||||
5.35%, 06/28/2028 | 9,000 | 9,121 | ||
5.55%, 02/15/2034 | 16,000 | 16,280 | ||
5.95%, 08/15/2053 | 9,000 | 9,491 | ||
6.10%, 06/28/2063 | 10,000 | 10,673 | ||
S&P Global, Inc., | ||||
3.70%, 03/01/2052 | 3,000 | 2,377 | ||
3.90%, 03/01/2062 | 4,000 | 3,132 | ||
72,548 | ||||
Food Retail–0.10% | ||||
Alimentation Couche-Tard, Inc. (Canada), | ||||
5.27%, 02/12/2034(b) | 98,000 | 97,787 | ||
5.62%, 02/12/2054(b) | 36,000 | 36,368 | ||
134,155 | ||||
Gas Utilities–0.05% | ||||
Atmos Energy Corp., | ||||
5.90%, 11/15/2033 | 22,000 | 23,354 | ||
6.20%, 11/15/2053 | 15,000 | 16,916 | ||
Piedmont Natural Gas Co., Inc., 5.40%, 06/15/2033 | 23,000 | 23,210 | ||
Southwest Gas Corp., 5.45%, 03/23/2028 | 8,000 | 8,124 | ||
71,604 | ||||
Health Care Distributors–0.09% | ||||
Cardinal Health, Inc., 5.45%, 02/15/2034 | 54,000 | 54,616 | ||
Cencora, Inc., 5.13%, 02/15/2034 | 60,000 | 59,920 | ||
114,536 | ||||
Health Care Equipment–0.14% | ||||
Smith & Nephew PLC (United Kingdom), 5.40%, 03/20/2034 | 184,000 | 183,161 | ||
Health Care Facilities–0.07% | ||||
HCA, Inc., 5.90%, 06/01/2053 | 40,000 | 40,253 | ||
UPMC, | ||||
5.04%, 05/15/2033 | 33,000 | 32,858 | ||
5.38%, 05/15/2043 | 16,000 | 16,158 | ||
89,269 |
Principal Amount | Value | |||
Health Care REITs–0.00% | ||||
DOC DR LLC, 4.30%, 03/15/2027 | $2,000 | $1,955 | ||
Health Care Services–0.30% | ||||
CommonSpirit Health, | ||||
5.32%, 12/01/2034 | 182,000 | 182,379 | ||
5.55%, 12/01/2054 | 57,000 | 57,718 | ||
CVS Health Corp., | ||||
5.00%, 01/30/2029 | 23,000 | 23,075 | ||
5.25%, 01/30/2031 | 6,000 | 6,048 | ||
5.30%, 06/01/2033 | 30,000 | 30,083 | ||
6.00%, 06/01/2063 | 10,000 | 10,333 | ||
Piedmont Healthcare, Inc., 2.86%, 01/01/2052 | 31,000 | 20,420 | ||
Providence St. Joseph Health Obligated Group, Series 21-A, 2.70%, 10/01/2051 | 58,000 | 35,583 | ||
Quest Diagnostics, Inc., 6.40%, 11/30/2033 | 33,000 | 35,668 | ||
401,307 | ||||
Health Care Supplies–0.88% | ||||
Solventum Corp., | ||||
5.45%, 02/25/2027(b) | 142,000 | 142,526 | ||
5.40%, 03/01/2029(b) | 272,000 | 272,622 | ||
5.60%, 03/23/2034(b) | 367,000 | 368,364 | ||
5.90%, 04/30/2054(b) | 217,000 | 216,643 | ||
6.00%, 05/15/2064(b) | 175,000 | 173,623 | ||
1,173,778 | ||||
Home Improvement Retail–0.08% | ||||
Home Depot, Inc. (The), 4.90%, 04/15/2029 | 75,000 | 75,770 | ||
Lowe’s Cos., Inc., | ||||
5.00%, 04/15/2033 | 9,000 | 8,970 | ||
5.75%, 07/01/2053 | 9,000 | 9,296 | ||
5.80%, 09/15/2062 | 4,000 | 4,104 | ||
5.85%, 04/01/2063 | 8,000 | 8,260 | ||
106,400 | ||||
Hotels, Resorts & Cruise Lines–0.32% | ||||
Carnival Corp., 7.00%, 08/15/2029(b) | 46,000 | 48,014 | ||
Hilton Domestic Operating Co., Inc., | ||||
5.88%, 04/01/2029(b) | 124,000 | 124,291 | ||
6.13%, 04/01/2032(b) | 93,000 | 93,455 | ||
Marriott International, Inc., | ||||
4.88%, 05/15/2029 | 39,000 | 38,631 | ||
5.30%, 05/15/2034 | 66,000 | 65,304 | ||
Royal Caribbean Cruises Ltd., 6.25%, 03/15/2032(b) | 57,000 | 57,490 | ||
427,185 | ||||
Independent Power Producers & Energy Traders–0.45% | ||||
EnfraGen Energia Sur S.A./EnfraGen Spain S.A./Prime Energia S.p.A. (Colombia), 5.38%, 12/30/2030(b) | 200,000 | 166,017 | ||
National Rural Utilities Cooperative Finance Corp., 7.13%, 09/15/2053(c) | 387,000 | 402,366 | ||
Vistra Corp., 7.00%(b)(c)(d) | 32,000 | 31,717 | ||
600,100 |
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Core Plus Bond Fund
Principal Amount | Value | |||
Industrial Conglomerates–0.82% | ||||
Honeywell International, Inc., | ||||
4.88%, 09/01/2029 | $163,000 | $164,184 | ||
4.95%, 09/01/2031 | 184,000 | 185,479 | ||
5.00%, 03/01/2035 | 163,000 | 163,684 | ||
5.25%, 03/01/2054 | 322,000 | 325,207 | ||
5.35%, 03/01/2064 | 244,000 | 247,427 | ||
1,085,981 | ||||
Industrial Machinery & Supplies & Components–0.08% | ||||
Ingersoll Rand, Inc., | ||||
5.40%, 08/14/2028 | 8,000 | 8,112 | ||
5.70%, 08/14/2033 | 37,000 | 37,972 | ||
Nordson Corp., | ||||
5.60%, 09/15/2028 | 9,000 | 9,173 | ||
5.80%, 09/15/2033 | 23,000 | 24,021 | ||
nVent Finance S.a.r.l. (United Kingdom), 5.65%, 05/15/2033 | 32,000 | 32,272 | ||
111,550 | ||||
Industrial REITs–0.02% | ||||
LXP Industrial Trust, 6.75%, 11/15/2028 | 26,000 | 27,124 | ||
Insurance Brokers–0.14% | ||||
Arthur J. Gallagher & Co., 6.75%, 02/15/2054 | 37,000 | 42,037 | ||
AssuredPartners, Inc., 7.50%, 02/15/2032(b) | 41,000 | 40,329 | ||
Marsh & McLennan Cos., Inc., | ||||
5.40%, 09/15/2033 | 50,000 | 51,336 | ||
5.45%, 03/15/2053 | 10,000 | 10,073 | ||
5.70%, 09/15/2053 | 46,000 | 47,793 | ||
191,568 | ||||
Integrated Oil & Gas–0.64% | ||||
BP Capital Markets America, Inc., 4.81%, 02/13/2033 | 16,000 | 15,799 | ||
Ecopetrol S.A. (Colombia), | ||||
4.63%, 11/02/2031 | 11,000 | 9,158 | ||
8.88%, 01/13/2033 | 297,000 | 314,332 | ||
8.38%, 01/19/2036 | 200,000 | 202,009 | ||
5.88%, 05/28/2045 | 12,000 | 8,969 | ||
Occidental Petroleum Corp., | ||||
6.45%, 09/15/2036 | 77,000 | 82,150 | ||
4.63%, 06/15/2045 | 25,000 | 20,257 | ||
Petroleos Mexicanos (Mexico), | ||||
8.75%, 06/02/2029 | 150,970 | 147,323 | ||
10.00%, 02/07/2033 | 44,000 | 43,849 | ||
843,846 | ||||
Integrated Telecommunication Services–0.05% | ||||
AT&T, Inc., | ||||
4.30%, 02/15/2030 | 4,000 | 3,845 | ||
5.40%, 02/15/2034 | 33,000 | 33,445 | ||
T-Mobile USA, Inc., 5.65%, 01/15/2053 | 30,000 | 30,656 | ||
Verizon Communications, Inc., 2.85%, 09/03/2041 | 4,000 | 2,882 | ||
70,828 | ||||
Interactive Media & Services–0.03% | ||||
Meta Platforms, Inc., 5.75%, 05/15/2063 | 40,000 | 42,916 |
Principal Amount | Value | |||
Investment Banking & Brokerage–0.96% | ||||
Blackstone Private Credit Fund, 6.25%, 01/25/2031(b) | $52,000 | $52,274 | ||
Brookfield Finance, Inc. (Canada), 5.97%, 03/04/2054 | 68,000 | 70,393 | ||
Charles Schwab Corp. (The), | ||||
5.64%, 05/19/2029(c) | 37,000 | 37,577 | ||
5.85%, 05/19/2034(c) | 37,000 | 37,914 | ||
6.14%, 08/24/2034(c) | 100,000 | 104,385 | ||
Series K, 5.00%(c)(d) | 14,000 | 13,420 | ||
Goldman Sachs Group, Inc. (The), | ||||
6.16% (SOFR + 0.79%), 12/09/2026(f) | 33,000 | 33,076 | ||
Series V, 4.13%(c)(d) | 76,000 | 70,637 | ||
Series W, 7.50%(c)(d)(e) | 334,000 | 355,490 | ||
Morgan Stanley, | ||||
5.00%, 11/24/2025 | 6,000 | 5,966 | ||
5.12%, 02/01/2029(c) | 11,000 | 10,977 | ||
5.16%, 04/20/2029(c) | 31,000 | 30,984 | ||
5.45%, 07/20/2029(c) | 22,000 | 22,200 | ||
6.41%, 11/01/2029(c) | 57,000 | 59,793 | ||
5.17%, 01/16/2030(c) | 40,000 | 40,047 | ||
5.25%, 04/21/2034(c) | 74,000 | 73,448 | ||
5.42%, 07/21/2034(c) | 46,000 | 46,162 | ||
5.47%, 01/18/2035(c) | 41,000 | 41,382 | ||
5.95%, 01/19/2038(c) | 10,000 | 10,028 | ||
5.94%, 02/07/2039(c) | 156,000 | 155,138 | ||
1,271,291 | ||||
Leisure Products–0.14% | ||||
Brunswick Corp., | ||||
5.85%, 03/18/2029 | 83,000 | 83,947 | ||
5.10%, 04/01/2052 | 5,000 | 4,110 | ||
Polaris, Inc., 6.95%, 03/15/2029 | 85,000 | 90,485 | ||
178,542 | ||||
Life & Health Insurance–1.48% | ||||
AIA Group Ltd. (Hong Kong), 5.38%, 04/05/2034(b) | 200,000 | 200,570 | ||
Athene Global Funding, 5.58%, 01/09/2029(b) | 140,000 | 141,010 | ||
Athene Holding Ltd., 6.25%, 04/01/2054 | 111,000 | 112,785 | ||
Corebridge Global Funding, | ||||
5.90%, 09/19/2028(b) | 40,000 | 41,028 | ||
5.20%, 01/12/2029(b) | 110,000 | 110,199 | ||
F&G Annuities & Life, Inc., 7.40%, 01/13/2028 | 15,000 | 15,593 | ||
GA Global Funding Trust, 5.50%, 01/08/2029(b) | 230,000 | 231,035 | ||
MAG Mutual Holding Co., 4.75%, 04/30/2041(b)(g) | 784,000 | 683,789 | ||
Manulife Financial Corp. (Canada), 4.06%, 02/24/2032(c) | 6,000 | 5,751 | ||
MetLife, Inc., 5.25%, 01/15/2054 | 23,000 | 22,674 | ||
Pacific Life Global Funding II, 6.18% (SOFR + 0.80%), 03/30/2025(b)(f) | 58,000 | 58,254 | ||
Penn Mutual Life Insurance Co. (The), 3.80%, 04/29/2061(b) | 2,000 | 1,339 | ||
Sumitomo Life Insurance Co. (Japan), 5.88%(b)(c)(d) | 338,000 | 337,518 | ||
1,961,545 |
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Core Plus Bond Fund
Principal Amount | Value | |||
Managed Health Care–0.14% | ||||
Humana, Inc., | ||||
5.75%, 12/01/2028 | $28,000 | $28,710 | ||
5.95%, 03/15/2034 | 88,000 | 91,414 | ||
UnitedHealth Group, Inc., | ||||
3.75%, 07/15/2025 | 2,000 | 1,967 | ||
5.25%, 02/15/2028 | 10,000 | 10,186 | ||
5.30%, 02/15/2030 | 20,000 | 20,485 | ||
5.35%, 02/15/2033 | 15,000 | 15,437 | ||
5.05%, 04/15/2053 | 13,000 | 12,635 | ||
5.20%, 04/15/2063 | 9,000 | 8,762 | ||
189,596 | ||||
Marine Transportation–0.37% | ||||
A.P. Moller - Maersk A/S (Denmark), 5.88%, 09/14/2033(b) | 36,000 | 37,059 | ||
Stena International S.A. (Sweden), | ||||
7.25%, 01/15/2031(b) | 100,000 | 99,880 | ||
7.63%, 02/15/2031(b) | 344,000 | 348,523 | ||
485,462 | ||||
Metal, Glass & Plastic Containers–0.04% | ||||
Sealed Air Corp., 7.25%, 02/15/2031(b) | 51,000 | 53,088 | ||
Movies & Entertainment–0.01% | ||||
Warnermedia Holdings, Inc., | ||||
5.05%, 03/15/2042 | 8,000 | 6,880 | ||
5.14%, 03/15/2052 | 5,000 | 4,153 | ||
5.39%, 03/15/2062 | 9,000 | 7,476 | ||
18,509 | ||||
Multi-Family Residential REITs–0.12% | ||||
AvalonBay Communities, Inc., 5.30%, 12/07/2033 | 70,000 | 70,856 | ||
Essex Portfolio, L.P., 5.50%, 04/01/2034 | 85,000 | 85,133 | ||
155,989 | ||||
Multi-line Insurance–0.18% | ||||
Metropolitan Life Global Funding I, 5.15%, 03/28/2033(b) | 240,000 | 240,433 | ||
Multi-Utilities–0.53% | ||||
Algonquin Power & Utilities Corp. (Canada), 5.37%, 06/15/2026(h) | 89,000 | 88,545 | ||
Ameren Illinois Co., 4.95%, 06/01/2033 | 17,000 | 16,838 | ||
Black Hills Corp., 6.15%, 05/15/2034 | 60,000 | 61,957 | ||
Dominion Energy, Inc., 5.38%, 11/15/2032 | 20,000 | 20,127 | ||
DTE Electric Co., 5.20%, 03/01/2034 | 60,000 | 60,311 | ||
NiSource, Inc., | ||||
5.25%, 03/30/2028 | 6,000 | 6,044 | ||
5.35%, 04/01/2034 | 126,000 | 125,366 | ||
Public Service Enterprise Group, Inc., | ||||
5.88%, 10/15/2028 | 79,000 | 81,382 | ||
6.13%, 10/15/2033 | 49,000 | 51,464 | ||
Sempra, 6.88%, 10/01/2054(c) | 182,000 | 184,055 | ||
WEC Energy Group, Inc., 5.15%, 10/01/2027 | 12,000 | 12,026 | ||
708,115 |
Principal Amount | Value | ||
Office REITs–0.64% | |||
Alexandria Real Estate Equities, Inc., | |||
5.25%, 05/15/2036 | $40,000 | $39,275 | |
5.63%, 05/15/2054 | 173,000 | 170,356 | |
Brandywine Operating Partnership L.P., 8.05%, 03/15/2028 | 76,000 | 77,263 | |
Office Properties Income Trust, 4.50%, 02/01/2025 | 26,000 | 21,513 | |
Piedmont Operating Partnership L.P., 9.25%, 07/20/2028 | 505,000 | 538,227 | |
846,634 | |||
Oil & Gas Drilling–0.02% | |||
Patterson-UTI Energy, Inc., 7.15%, 10/01/2033 | 24,000 | 25,817 | |
Oil & Gas Equipment & Services–0.03% | |||
Northern Natural Gas Co., 5.63%, 02/01/2054(b) | 37,000 | 37,716 | |
Oil & Gas Exploration & Production–0.52% | |||
Apache Corp., 7.75%, 12/15/2029 | 23,000 | 24,959 | |
Baytex Energy Corp. (Canada), 7.38%, 03/15/2032(b) | 171,000 | 172,865 | |
Civitas Resources, Inc., | |||
8.38%, 07/01/2028(b) | 106,000 | 111,720 | |
8.75%, 07/01/2031(b) | 123,000 | 131,771 | |
ConocoPhillips Co., | |||
5.55%, 03/15/2054 | 31,000 | 31,973 | |
5.70%, 09/15/2063 | 19,000 | 19,930 | |
Murphy Oil Corp., 6.38%, 07/15/2028 | 23,000 | 23,170 | |
Southwestern Energy Co., 5.38%, 03/15/2030 | 68,000 | 65,511 | |
Transocean Titan Financing Ltd., 8.38%, 02/01/2028(b) | 110,000 | 114,902 | |
696,801 | |||
Oil & Gas Refining & Marketing–0.54% | |||
Cosan Luxembourg S.A. (Brazil), 7.50%, 06/27/2030(b) | 220,000 | 228,252 | |
CVR Energy, Inc., 8.50%, 01/15/2029(b) | 247,000 | 250,283 | |
Phillips 66 Co., 5.30%, 06/30/2033 | 30,000 | 30,199 | |
Raizen Fuels Finance S.A. (Brazil), 6.45%, 03/05/2034(b) | 200,000 | 205,322 | |
714,056 | |||
Oil & Gas Storage & Transportation–2.08% | |||
Antero Midstream Partners L.P./Antero Midstream Finance Corp., 6.63%, 02/01/2032(b) | 177,000 | 177,920 | |
Cheniere Energy Partners L.P., 5.95%, 06/30/2033 | 28,000 | 28,650 | |
Cheniere Energy, Inc., 5.65%, 04/15/2034(b) | 75,000 | 75,582 | |
Columbia Pipelines Holding Co. LLC, 6.06%, 08/15/2026(b) | 10,000 | 10,113 | |
Enbridge, Inc. (Canada), | |||
5.70%, 03/08/2033 | 30,000 | 30,736 | |
7.38%, 01/15/2083(c) | 10,000 | 10,072 | |
7.63%, 01/15/2083(c) | 11,000 | 11,316 | |
8.50%, 01/15/2084(c) | 44,000 | 47,918 | |
Series NC5, 8.25%, 01/15/2084(c) | 71,000 | 74,060 |
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Core Plus Bond Fund
Principal Amount | Value | |||
Oil & Gas Storage & Transportation–(continued) | ||||
Energy Transfer L.P., | ||||
4.00%, 10/01/2027 | $4,000 | $3,846 | ||
6.10%, 12/01/2028 | 21,000 | 21,790 | ||
6.40%, 12/01/2030 | 9,000 | 9,506 | ||
6.55%, 12/01/2033 | 13,000 | 13,964 | ||
5.55%, 05/15/2034 | 60,000 | 60,220 | ||
5.95%, 05/15/2054 | 50,000 | 49,929 | ||
8.00%, 05/15/2054(c) | 111,000 | 116,509 | ||
Genesis Energy L.P./Genesis Energy Finance Corp., 8.88%, 04/15/2030 | 68,000 | 71,234 | ||
GreenSaif Pipelines Bidco S.a.r.l. (Saudi Arabia), | ||||
6.13%, 02/23/2038(b) | 200,000 | 203,466 | ||
6.51%, 02/23/2042(b) | 200,000 | 208,000 | ||
Kinder Morgan, Inc., | ||||
4.80%, 02/01/2033 | 5,000 | 4,782 | ||
5.20%, 06/01/2033 | 25,000 | 24,634 | ||
5.45%, 08/01/2052 | 10,000 | 9,447 | ||
MPLX L.P., | ||||
4.25%, 12/01/2027 | 4,000 | 3,892 | ||
4.95%, 03/14/2052 | 5,000 | 4,395 | ||
New Fortress Energy, Inc., 8.75%, 03/15/2029(b) | 254,000 | 253,255 | ||
NGL Energy Operating LLC/NGL Energy Finance Corp., | ||||
8.13%, 02/15/2029(b) | 58,000 | 59,441 | ||
8.38%, 02/15/2032(b) | 175,000 | 179,510 | ||
ONEOK, Inc., | ||||
5.65%, 11/01/2028 | 13,000 | 13,296 | ||
5.80%, 11/01/2030 | 50,000 | 51,550 | ||
6.05%, 09/01/2033 | 49,000 | 51,128 | ||
6.63%, 09/01/2053 | 70,000 | 77,199 | ||
Sabine Pass Liquefaction LLC, 5.90%, 09/15/2037 | 11,000 | 11,433 | ||
Southern Co. Gas Capital Corp., 5.75%, 09/15/2033 | 19,000 | 19,677 | ||
Tallgrass Energy Partners L.P./Tallgrass Energy Finance Corp., 7.38%, 02/15/2029(b) | 254,000 | 255,695 | ||
Targa Resources Corp., 6.25%, 07/01/2052 | 5,000 | 5,197 | ||
Venture Global LNG, Inc., | ||||
9.50%, 02/01/2029(b) | 173,000 | 186,578 | ||
9.88%, 02/01/2032(b) | 178,000 | 191,950 | ||
Western Midstream Operating L.P., 6.15%, 04/01/2033 | 29,000 | 29,759 | ||
Williams Cos., Inc. (The), | ||||
5.30%, 08/15/2028 | 78,000 | 78,705 | ||
5.65%, 03/15/2033 | 31,000 | 31,818 | ||
2,768,172 | ||||
Other Specialty Retail–0.01% | ||||
Tractor Supply Co., 5.25%, 05/15/2033 | 8,000 | 8,063 | ||
Packaged Foods & Meats–0.32% | ||||
Campbell Soup Co., | ||||
5.20%, 03/21/2029 | 78,000 | 78,403 | ||
5.40%, 03/21/2034 | 103,000 | 103,821 | ||
J.M. Smucker Co. (The), 6.20%, 11/15/2033 | 23,000 | 24,548 |
Principal Amount | Value | |||
Packaged Foods & Meats–(continued) | ||||
McCormick & Co., Inc., 4.95%, 04/15/2033 | $9,000 | $8,906 | ||
Minerva Luxembourg S.A. (Brazil), 8.88%, 09/13/2033(b) | 200,000 | 210,556 | ||
426,234 | ||||
Paper & Plastic Packaging Products & Materials–0.25% | ||||
Sealed Air Corp., 6.13%, 02/01/2028(b) | 19,000 | 19,055 | ||
Smurfit Kappa Treasury Unlimited Co. (Ireland), | ||||
5.20%, 01/15/2030(b) | 112,000 | 112,140 | ||
5.44%, 04/03/2034(b) | 103,000 | 103,515 | ||
5.78%, 04/03/2054(b) | 100,000 | 101,436 | ||
336,146 | ||||
Passenger Airlines–0.05% | ||||
American Airlines Pass-Through Trust, Series 2021-1, Class A, 2.88%, 07/11/2034 | 3,678 | 3,134 | ||
British Airways Pass-Through Trust (United Kingdom), Series 2021-1, Class A, 2.90%, 03/15/2035(b) | 24,561 | 21,272 | ||
Delta Air Lines, Inc./SkyMiles IP Ltd., | ||||
4.50%, 10/20/2025(b) | 11,234 | 11,122 | ||
4.75%, 10/20/2028(b) | 20,737 | 20,289 | ||
United Airlines Pass-Through Trust, Series 2020-1, Class A, 5.88%, 10/15/2027 | 6,589 | 6,574 | ||
62,391 | ||||
Personal Care Products–0.11% | ||||
Kenvue, Inc., | ||||
5.05%, 03/22/2028 | 15,000 | 15,170 | ||
5.00%, 03/22/2030 | 62,000 | 62,675 | ||
4.90%, 03/22/2033 | 42,000 | 41,995 | ||
5.10%, 03/22/2043 | 14,000 | 13,932 | ||
5.20%, 03/22/2063 | 12,000 | 11,882 | ||
145,654 | ||||
Pharmaceuticals–0.80% | ||||
AstraZeneca Finance LLC (United Kingdom), | ||||
4.85%, 02/26/2029 | 77,000 | 77,260 | ||
4.90%, 02/26/2031 | 135,000 | 135,513 | ||
5.00%, 02/26/2034 | 108,000 | 108,498 | ||
Bristol-Myers Squibb Co., | ||||
4.90%, 02/22/2027 | 40,000 | 40,101 | ||
4.90%, 02/22/2029 | 43,000 | 43,213 | ||
5.75%, 02/01/2031 | 82,000 | 86,099 | ||
5.90%, 11/15/2033 | 40,000 | 42,767 | ||
6.25%, 11/15/2053 | 21,000 | 23,672 | ||
6.40%, 11/15/2063 | 37,000 | 42,323 | ||
Eli Lilly and Co., | ||||
4.70%, 02/09/2034 | 188,000 | 187,043 | ||
4.88%, 02/27/2053 | 10,000 | 9,773 | ||
5.00%, 02/09/2054 | 79,000 | 78,616 | ||
5.10%, 02/09/2064 | 95,000 | 94,625 | ||
Merck & Co., Inc., | ||||
4.90%, 05/17/2044 | 67,000 | 65,142 | ||
5.00%, 05/17/2053 | 13,000 | 12,738 | ||
5.15%, 05/17/2063 | 9,000 | 8,921 | ||
1,056,304 |
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Core Plus Bond Fund
Principal Amount | Value | |||
Precious Metals & Minerals–0.06% | ||||
Anglo American Capital PLC (South Africa), 3.63%, 09/11/2024(b) | $83,000 | $82,059 | ||
Property & Casualty Insurance–0.10% | ||||
Allstate Corp. (The), 4.20%, 12/15/2046 | 2,000 | 1,662 | ||
Fairfax Financial Holdings Ltd. (Canada), 6.35%, 03/22/2054(b) | 121,000 | 123,555 | ||
Travelers Cos., Inc. (The), 5.45%, 05/25/2053 | 12,000 | 12,441 | ||
137,658 | ||||
Rail Transportation–0.14% | ||||
Norfolk Southern Corp., | ||||
5.05%, 08/01/2030 | 25,000 | 25,089 | ||
5.55%, 03/15/2034 | 39,000 | 40,592 | ||
5.35%, 08/01/2054 | 37,000 | 36,758 | ||
5.95%, 03/15/2064 | 49,000 | 52,372 | ||
Union Pacific Corp., 5.15%, 01/20/2063 | 26,000 | 25,267 | ||
180,078 | ||||
Regional Banks–0.35% | ||||
Citizens Financial Group, Inc., 5.64%, 05/21/2037(c) | 9,000 | 8,408 | ||
Huntington Bancshares, Inc., 4.00%, 05/15/2025 | 4,000 | 3,930 | ||
M&T Bank Corp., 5.05%, 01/27/2034(c) | 11,000 | 10,233 | ||
Manufacturers & Traders Trust Co., 2.90%, 02/06/2025 | 250,000 | 243,802 | ||
Truist Financial Corp., | ||||
6.05%, 06/08/2027(c) | 31,000 | 31,426 | ||
4.87%, 01/26/2029(c) | 13,000 | 12,791 | ||
7.16%, 10/30/2029(c) | 55,000 | 58,671 | ||
5.44%, 01/24/2030(c) | 41,000 | 40,964 | ||
4.92%, 07/28/2033(c) | 14,000 | 13,048 | ||
6.12%, 10/28/2033(c) | 8,000 | 8,273 | ||
5.87%, 06/08/2034(c) | 36,000 | 36,455 | ||
468,001 | ||||
Reinsurance–0.35% | ||||
Global Atlantic (Fin) Co., | ||||
4.70%, 10/15/2051(b)(c) | 28,000 | 25,251 | ||
6.75%, 03/15/2054(b) | 235,000 | 241,286 | ||
Swiss RE Subordinated Finance PLC (United Kingdom), 5.70%, 04/05/2035(b)(c) | 200,000 | 200,189 | ||
466,726 | ||||
Restaurants–0.17% | ||||
McDonald’s Corp., | ||||
4.80%, 08/14/2028 | 107,000 | 107,364 | ||
4.95%, 08/14/2033 | 88,000 | 88,166 | ||
5.45%, 08/14/2053 | 31,000 | 31,483 | ||
227,013 | ||||
Retail REITs–0.08% | ||||
Kite Realty Group L.P., | ||||
4.00%, 10/01/2026 | 5,000 | 4,763 | ||
5.50%, 03/01/2034 | 20,000 | 19,881 | ||
NNN REIT, Inc., 5.60%, 10/15/2033 | 18,000 | 18,234 |
Principal Amount | Value | |||
Retail REITs–(continued) | ||||
Realty Income Corp., | ||||
2.20%, 06/15/2028 | $2,000 | $1,789 | ||
5.63%, 10/13/2032 | 7,000 | 7,150 | ||
Regency Centers L.P., 5.25%, 01/15/2034 | 49,000 | 48,832 | ||
100,649 | ||||
Self-Storage REITs–0.42% | ||||
Extra Space Storage L.P., | ||||
5.70%, 04/01/2028 | 9,000 | 9,168 | ||
5.40%, 02/01/2034 | 91,000 | 90,634 | ||
Prologis L.P., | ||||
4.88%, 06/15/2028 | 24,000 | 24,040 | ||
5.13%, 01/15/2034 | 23,000 | 23,111 | ||
5.00%, 03/15/2034 | 210,000 | 208,858 | ||
5.25%, 06/15/2053 | 62,000 | 61,078 | ||
5.25%, 03/15/2054 | 63,000 | 61,917 | ||
Public Storage Operating Co., | ||||
5.13%, 01/15/2029 | 7,000 | 7,119 | ||
5.10%, 08/01/2033 | 50,000 | 50,246 | ||
5.35%, 08/01/2053 | 25,000 | 25,133 | ||
561,304 | ||||
Semiconductors–0.29% | ||||
Broadcom, Inc., | ||||
4.15%, 11/15/2030 | 4,000 | 3,784 | ||
4.93%, 05/15/2037(b) | 4,000 | 3,798 | ||
Foundry JV Holdco LLC, 5.88%, 01/25/2034(b)(e) | 326,000 | 326,854 | ||
Micron Technology, Inc., 5.30%, 01/15/2031 | 55,000 | 55,338 | ||
389,774 | ||||
Sovereign Debt–3.64% | ||||
Brazilian Government International Bond (Brazil), | ||||
6.13%, 03/15/2034 | 420,000 | 416,097 | ||
7.13%, 05/13/2054 | 360,000 | 363,078 | ||
Costa Rica Government International Bond (Costa Rica), 7.30%, 11/13/2054(b) | 200,000 | 212,766 | ||
Hungary Government International Bond (Hungary), 5.50%, 03/26/2036(b) | 200,000 | 194,530 | ||
Israel Government International Bond (Israel), | ||||
5.50%, 03/12/2034 | 225,000 | 223,166 | ||
5.75%, 03/12/2054 | 200,000 | 191,842 | ||
Ivory Coast Government International Bond (Ivory Coast), 7.63%, 01/30/2033(b) | 235,000 | 233,598 | ||
Mexico Government International Bond (Mexico), | ||||
6.00%, 05/07/2036 | 200,000 | 200,861 | ||
6.40%, 05/07/2054 | 250,000 | 249,632 | ||
Panama Government International Bond (Panama), 7.50%, 03/01/2031 | 200,000 | 207,808 |
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Core Plus Bond Fund
Principal Amount | Value | |||
Sovereign Debt–(continued) | ||||
Republic of Poland Government International Bond (Poland), | ||||
4.63%, 03/18/2029 | $180,000 | $179,631 | ||
5.75%, 11/16/2032 | 5,000 | 5,242 | ||
5.13%, 09/18/2034 | 184,000 | 184,103 | ||
5.50%, 03/18/2054 | 150,000 | 149,568 | ||
Republic of Uzbekistan International Bond (Uzbekistan), 7.85%, 10/12/2028(b) | 200,000 | 209,462 | ||
Romanian Government International Bond (Romania), | ||||
5.25%, 11/25/2027(b) | 30,000 | 29,623 | ||
6.63%, 02/17/2028(b) | 138,000 | 142,414 | ||
5.88%, 01/30/2029(b) | 126,000 | 126,205 | ||
7.13%, 01/17/2033(b) | 106,000 | 113,565 | ||
6.38%, 01/30/2034(b) | 146,000 | 148,313 | ||
Saudi Government International Bond (Saudi Arabia), | ||||
4.75%, 01/16/2030(b) | 200,000 | 198,701 | ||
5.00%, 01/16/2034(b) | 202,000 | 201,093 | ||
5.75%, 01/16/2054(b) | 259,000 | 257,058 | ||
Trinidad & Tobago Government International Bond (Trinidad), 5.95%, 01/14/2031(b) | 200,000 | 201,350 | ||
Turkiye Government International Bond (Turkey), 7.63%, 05/15/2034 | 200,000 | 201,050 | ||
4,840,756 | ||||
Specialized Finance–0.04% | ||||
Jefferson Capital Holdings LLC, 9.50%, 02/15/2029(b) | 57,000 | 58,411 | ||
Specialty Chemicals–0.42% | ||||
Sasol Financing USA LLC (South Africa), | ||||
4.38%, 09/18/2026 | 200,000 | 189,310 | ||
8.75%, 05/03/2029(b) | 200,000 | 204,038 | ||
5.50%, 03/18/2031 | 200,000 | 168,663 | ||
562,011 | ||||
Steel–0.15% | ||||
POSCO (South Korea), 5.63%, 01/17/2026(b) | 200,000 | 200,517 | ||
Systems Software–0.04% | ||||
Oracle Corp., | ||||
6.25%, 11/09/2032 | 10,000 | 10,704 | ||
4.90%, 02/06/2033 | 30,000 | 29,386 | ||
6.90%, 11/09/2052 | 13,000 | 14,972 | ||
55,062 | ||||
Technology Hardware, Storage & Peripherals–0.01% | ||||
Apple, Inc., | ||||
4.38%, 05/13/2045 | 3,000 | 2,777 | ||
4.25%, 02/09/2047 | 2,000 | 1,821 | ||
Leidos, Inc., 5.75%, 03/15/2033 | 14,000 | 14,358 | ||
18,956 | ||||
Telecom Tower REITs–0.00% | ||||
American Tower Corp., 4.00%, 06/01/2025 | 3,000 | 2,949 |
Principal Amount | Value | |||
Tobacco–0.61% | ||||
B.A.T Capital Corp. (United Kingdom), | ||||
5.83%, 02/20/2031 | $103,000 | $103,941 | ||
6.00%, 02/20/2034 | 25,000 | 25,330 | ||
7.08%, 08/02/2043 | 15,000 | 16,016 | ||
7.08%, 08/02/2053 | 12,000 | 12,949 | ||
Philip Morris International, Inc., | ||||
5.00%, 11/17/2025 | 7,000 | 6,985 | ||
5.13%, 11/17/2027 | 8,000 | 8,045 | ||
4.88%, 02/15/2028 | 75,000 | 74,834 | ||
5.25%, 09/07/2028 | 57,000 | 57,696 | ||
4.88%, 02/13/2029 | 209,000 | 207,811 | ||
5.13%, 02/13/2031 | 51,000 | 50,689 | ||
5.75%, 11/17/2032 | 5,000 | 5,165 | ||
5.38%, 02/15/2033 | 83,000 | 83,717 | ||
5.63%, 09/07/2033 | 53,000 | 54,232 | ||
5.25%, 02/13/2034 | 103,000 | 102,134 | ||
809,544 | ||||
Trading Companies & Distributors–0.06% | ||||
Avolon Holdings Funding Ltd. (Ireland), 6.38%, 05/04/2028(b) | 73,000 | 74,532 | ||
Transaction & Payment Processing Services–0.30% | ||||
Fiserv, Inc., | ||||
5.38%, 08/21/2028 | 87,000 | 87,922 | ||
5.63%, 08/21/2033 | 54,000 | 55,191 | ||
5.45%, 03/15/2034 | 203,000 | 205,679 | ||
Mastercard, Inc., 4.85%, 03/09/2033 | 49,000 | 49,386 | ||
398,178 | ||||
Wireless Telecommunication Services–0.26% | ||||
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC, | ||||
4.74%, 03/20/2025(b) | 50,000 | 49,733 | ||
5.15%, 03/20/2028(b) | 167,200 | 166,852 | ||
T-Mobile USA, Inc., | ||||
5.75%, 01/15/2034 | 60,000 | 62,515 | ||
6.00%, 06/15/2054 | 14,000 | 14,975 | ||
Vodafone Group PLC (United Kingdom), | ||||
4.13%, 06/04/2081(c) | 30,000 | 25,889 | ||
5.13%, 06/04/2081(c) | 33,000 | 24,964 | ||
344,928 | ||||
Total U.S. Dollar Denominated Bonds & Notes (Cost $62,781,928) | 63,737,687 | |||
Asset-Backed Securities–22.81% | ||||
Adjustable Rate Mortgage Trust, Series 2004-2, Class 6A1, 0.71%, 02/25/2035(i) | 1,389 | 1,368 | ||
AMSR Trust, Series 2021-SFR3, Class B, 1.73%, 10/17/2038(b) | 380,000 | 345,457 |
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Core Plus Bond Fund
Principal Amount | Value | ||
Angel Oak Mortgage Trust, | |||
Series 2020-1, Class A1, 2.16%, 12/25/2059(b)(i) | $31,287 | $29,688 | |
Series 2020-3, Class A1, 1.69%, 04/25/2065(b)(i) | 103,742 | 95,441 | |
Series 2020-5, Class A1, 1.37%, 05/25/2065(b)(i) | 13,447 | 12,521 | |
Series 2021-3, Class A1, 1.07%, 05/25/2066(b)(i) | 77,357 | 65,372 | |
Series 2021-7, Class A1, 1.98%, 10/25/2066(b)(i) | 190,619 | 160,048 | |
Series 2022-1, Class A1, 2.88%, 12/25/2066(b)(h) | 338,803 | 304,671 | |
Series 2023-6, Class A1, 6.50%, 12/25/2067(b)(h) | 99,333 | 100,205 | |
Series 2024-2, Class A1, 5.99%, 01/25/2069(b)(h) | 398,298 | 397,294 | |
Apidos CLO XXV, Series 2016-25A, Class A1R2, 6.46% (3 mo. Term SOFR + 1.15%), 10/20/2031(b)(f) | 402,000 | 402,372 | |
Avis Budget Rental Car Funding (AESOP) LLC, | |||
Series 2022-1A, Class A, 3.83%, 08/21/2028(b) | 560,000 | 538,074 | |
Series 2023-1A, Class A, 5.25%, 04/20/2029(b) | 102,000 | 102,116 | |
Series 2023-4A, Class A, 5.49%, 06/20/2029(b) | 354,000 | 357,315 | |
Bain Capital Credit CLO Ltd. (Cayman Islands), | |||
Series 2017-2A, Class AR2, 6.77% (3 mo. Term SOFR + 1.44%), 07/25/2034(b)(f) | 731,000 | 731,700 | |
Series 2021-1A, Class A, 6.62% (3 mo. Term SOFR + 1.32%), 04/18/2034(b)(f) | 147,000 | 147,099 | |
Banc of America Commercial Mortgage Trust, Series 2015-UBS7, Class AS, 3.99%, 09/15/2048(i) | 70,000 | 67,549 | |
Banc of America Funding Trust, | |||
Series 2007-1, Class 1A3, 6.00%, 01/25/2037 | 29,735 | 24,503 | |
Series 2007-C, Class 1A4, 4.38%, 05/20/2036(i) | 9,679 | 8,394 | |
Banc of America Mortgage Trust, Series 2007-1, Class 1A24, 6.00%, 03/25/2037 | 19,308 | 15,533 | |
Bank, Series 2019-BNK16, Class XA, IO, 0.94%, 02/15/2052(j) | 1,497,346 | 52,222 | |
Bayview MSR Opportunity Master Fund Trust, | |||
Series 2021-4, Class A3, 3.00%, 10/25/2051(b)(i) | 296,397 | 248,872 | |
Series 2021-4, Class A4, 2.50%, 10/25/2051(b)(i) | 296,397 | 238,896 | |
Series 2021-4, Class A8, 2.50%, 10/25/2051(b)(i) | 272,196 | 237,479 | |
Series 2021-5, Class A1, 3.00%, 11/25/2051(b)(i) | 302,278 | 253,810 | |
Series 2021-5, Class A2, 2.50%, 11/25/2051(b)(i) | 368,584 | 297,079 |
Principal Amount | Value | ||
Bear Stearns Adjustable Rate Mortgage Trust, | |||
Series 2005-9, Class A1, 0.76% (1 yr. U.S. Treasury Yield Curve Rate + 2.30%), 10/25/2035(f) | $22,115 | $20,610 | |
Series 2006-1, Class A1, 0.65% (1 yr. U.S. Treasury Yield Curve Rate + 2.25%), 02/25/2036(f) | 23,842 | 22,161 | |
Benchmark Mortgage Trust, | |||
Series 2018-B1, Class XA, IO, 0.52%, 01/15/2051(j) | 1,219,527 | 18,848 | |
Series 2018-B3, Class C, 4.52%, 04/10/2051(i) | 42,000 | 34,010 | |
Series 2019-B14, Class A5, 3.05%, 12/15/2062 | 90,000 | 80,960 | |
Series 2019-B15, Class B, 3.56%, 12/15/2072 | 70,000 | 57,588 | |
BRAVO Residential Funding Trust, Series 2021-NQM2, Class A1, 0.97%, 03/25/2060(b)(i) | 65,209 | 60,937 | |
BX Commercial Mortgage Trust, | |||
Series 2021-ACNT, Class A, 6.29% (1 mo. Term SOFR + 0.96%), 11/15/2038(b)(f) | 231,461 | 229,337 | |
Series 2021-VOLT, Class A, 6.14% (1 mo. Term SOFR + 0.81%), 09/15/2036(b)(f) | 250,000 | 248,306 | |
Series 2021-VOLT, Class B, 6.39% (1 mo. Term SOFR + 1.06%), 09/15/2036(b)(f) | 225,000 | 222,665 | |
Series 2021-VOLT, Class D, 7.09% (1 mo. Term SOFR + 1.76%), 09/15/2036(b)(f) | 100,000 | 98,667 | |
BX Trust, | |||
Series 2022-CLS, Class A, 5.76%, 10/13/2027(b) | 130,000 | 130,556 | |
Series 2022-LBA6, Class A, 6.33% (1 mo. Term SOFR + 1.00%), 01/15/2039(b)(f) | 320,000 | 318,546 | |
Series 2022-LBA6, Class B, 6.63% (1 mo. Term SOFR + 1.30%), 01/15/2039(b)(f) | 230,000 | 228,226 | |
Series 2022-LBA6, Class C, 6.93% (1 mo. Term SOFR + 1.60%), 01/15/2039(b)(f) | 100,000 | 99,125 | |
Carlyle Global Market Strategies CLO Ltd., Series 2015-4A, Class A1RR, 0.00% (3 mo. Term SOFR + 1.22%), 07/20/2032(b)(f)(k) | 254,000 | 254,000 | |
CD Mortgage Trust, Series 2017-CD6, Class XA, IO, 0.87%, 11/13/2050(j) | 631,020 | 13,446 | |
Cedar Funding IX CLO Ltd., Series 2018-9A, Class A1, 6.56% (3 mo. Term SOFR + 1.24%), 04/20/2031(b)(f) | 218,124 | 218,308 | |
Chase Home Lending Mortgage Trust, | |||
Series 2019-ATR1, Class A15, 4.00%, 04/25/2049(b)(i) | 3,636 | 3,370 | |
Series 2019-ATR2, Class A3, 3.50%, 07/25/2049(b)(i) | 20,546 | 18,282 | |
Chase Mortgage Finance Corp., | |||
Series 2016-SH1, Class M3, 3.75%, 04/25/2045(b)(i) | 22,656 | 20,274 | |
Series 2016-SH2, Class M3, 3.75%, 12/25/2045(b)(i) | 28,396 | 25,372 |
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Core Plus Bond Fund
Principal Amount | Value | ||
Chase Mortgage Finance Trust, Series 2005-A2, Class 1A3, 4.84%, 01/25/2036(i) | $26,680 | $23,985 | |
Citigroup Commercial Mortgage Trust, Series 2017-C4, Class XA, IO, 0.98%, 10/12/2050(j) | 1,587,260 | 44,108 | |
Citigroup Mortgage Loan Trust, Inc., | |||
Series 2006-AR1, Class 1A1, 7.20% (1 yr. U.S. Treasury Yield Curve Rate + 2.40%), 10/25/2035(f) | 54,409 | 51,259 | |
Series 2021-INV3, Class A3, 2.50%, 05/25/2051(b)(i) | 296,718 | 239,155 | |
COLT Mortgage Loan Trust, | |||
Series 2021-5, Class A1, 1.73%, 11/26/2066(b)(i) | 165,454 | 142,121 | |
Series 2022-1, Class A1, 2.28%, 12/27/2066(b)(i) | 224,899 | 196,460 | |
Series 2022-2, Class A1, 2.99%, 02/25/2067(b)(h) | 224,473 | 203,955 | |
Series 2022-3, Class A1, 3.90%, 02/25/2067(b)(i) | 300,453 | 285,343 | |
COMM Mortgage Trust, | |||
Series 2014-CR21, Class AM, 3.99%, 12/10/2047 | 715,000 | 685,375 | |
Series 2014-UBS6, Class AM, 4.05%, 12/10/2047 | 475,000 | 456,457 | |
Commercial Mortgage Trust, | |||
Series 2014-CR20, Class ASB, 3.31%, 11/10/2047 | 7,466 | 7,432 | |
Series 2015-CR25, Class B, 4.52%, 08/10/2048(i) | 72,000 | 69,893 | |
Countrywide Home Loans Mortgage Pass-Through Trust, | |||
Series 2005-17, Class 1A8, 5.50%, 09/25/2035 | 1,972 | 1,828 | |
Series 2005-26, Class 1A8, 5.50%, 11/25/2035 | 27,786 | 17,001 | |
Series 2005-J4, Class A7, 5.50%, 11/25/2035 | 3,254 | 2,633 | |
Credit Suisse Mortgage Capital Trust, | |||
Series 2021-NQM1, Class A1, 0.81%, 05/25/2065(b)(i) | 39,230 | 33,417 | |
Series 2021-NQM2, Class A1, 1.18%, 02/25/2066(b)(i) | 90,099 | 78,327 | |
Series 2022-ATH1, Class A1A, 2.87%, 01/25/2067(b)(i) | 331,561 | 309,188 | |
Series 2022-ATH1, Class A1B, 3.35%, 01/25/2067(b)(i) | 115,000 | 99,898 | |
Series 2022-ATH2, Class A1, 4.55%, 05/25/2067(b)(i) | 269,640 | 262,364 | |
Cross Mortgage Trust, Series 2024-H2, Class A1, 6.09%, 04/25/2069(b)(h) | 200,000 | 200,732 | |
CSAIL Commercial Mortgage Trust, Series 2020-C19, Class A3, 2.56%, 03/15/2053 | 776,000 | 656,420 | |
CSFB Mortgage-Backed Pass-Through Ctfs., Series 2004-AR5, Class 3A1, 4.30%, 06/25/2034(i) | 5,934 | 5,513 | |
CSMC Mortgage-Backed Trust, Series 2006-6, Class 1A4, 6.00%, 07/25/2036 | 93,789 | 44,914 |
Principal Amount | Value | ||
DB Master Finance LLC, | |||
Series 2019-1A, Class A23, 4.35%, 05/20/2049(b) | $47,750 | $45,619 | |
Series 2019-1A, Class A2II, 4.02%, 05/20/2049(b) | 47,750 | 46,264 | |
Domino’s Pizza Master Issuer LLC, Series 2019-1A, Class A2, 3.67%, 10/25/2049(b) | 104,640 | 96,503 | |
Dryden 93 CLO Ltd., Series 2021-93A, Class A1A, 6.66% (3 mo. Term SOFR + 1.34%), 01/15/2034(b)(f) | 100,056 | 100,121 | |
Ellington Financial Mortgage Trust, | |||
Series 2019-2, Class A1, 2.74%, 11/25/2059(b)(i) | 15,821 | 15,030 | |
Series 2020-1, Class A1, 2.01%, 05/25/2065(b)(i) | 9,402 | 9,119 | |
Series 2021-1, Class A1, 0.80%, 02/25/2066(b)(i) | 28,014 | 23,615 | |
Series 2022-1, Class A1, 2.21%, 01/25/2067(b)(i) | 220,876 | 188,373 | |
Series 2022-3, Class A1, 5.00%, 08/25/2067(b)(h) | 254,876 | 250,865 | |
Exeter Automobile Receivables Trust, Series 2019-4A, Class D, 2.58%, 09/15/2025(b) | 39,907 | 39,687 | |
Extended Stay America Trust, Series 2021-ESH, Class B, 6.82% (1 mo. Term SOFR + 1.49%), 07/15/2038(b)(f) | 105,139 | 105,242 | |
First Horizon Alternative Mortgage Securities Trust, Series 2005-FA8, Class 1A6, 5.50% (1 mo. Term SOFR + 0.76%), 11/25/2035(f) | 53,331 | 23,006 | |
Flagstar Mortgage Trust, | |||
Series 2021-11IN, Class A6, 3.70%, 11/25/2051(b)(i) | 450,929 | 392,468 | |
Series 2021-8INV, Class A6, 2.50%, 09/25/2051(b)(i) | 148,137 | 129,304 | |
Frontier Issuer LLC, Series 2023-1, Class A2, 6.60%, 08/20/2053(b) | 311,233 | 315,009 | |
GCAT Trust, Series 2019-NQM3, Class A1, 3.69%, 11/25/2059(b)(i) | 15,930 | 15,205 | |
GMACM Mortgage Loan Trust, Series 2006-AR1, Class 1A1, 3.36%, 04/19/2036(i) | 31,887 | 24,962 | |
GoldenTree Loan Management US CLO 5 Ltd., Series 2019-5A, Class AR, 6.65% (3 mo. Term SOFR + 1.33%), 10/20/2032(b)(f) | 260,000 | 260,194 | |
Golub Capital Partners CLO 40(B) Ltd., Series 2019-40A, Class AR, 6.68% (3 mo. Term SOFR + 1.35%), 01/25/2032(b)(f) | 330,000 | 330,228 | |
GS Mortgage Securities Trust, | |||
Series 2020-GC45, Class A5, 2.91%, 02/13/2053 | 50,000 | 44,237 | |
Series 2020-GC47, Class A5, 2.38%, 05/12/2053 | 300,000 | 255,916 | |
GS Mortgage-Backed Securities Trust, Series 2021-INV1, Class A6, 2.50%, 12/25/2051(b)(i) | 254,135 | 221,654 | |
GSR Mortgage Loan Trust, Series 2005-AR4, Class 6A1, 4.56%, 07/25/2035(i) | 7,334 | 6,638 |
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Core Plus Bond Fund
Principal Amount | Value | ||
Hertz Vehicle Financing III L.P., | |||
Series 2021-2A, Class A, 1.68%, 12/27/2027(b) | $113,000 | $103,253 | |
Series 2021-2A, Class B, 2.12%, 12/27/2027(b) | 103,000 | 93,944 | |
HPEFS Equipment Trust, Series 2023-2A, Class A2, 6.04%, 01/21/2031(b) | 100,000 | 100,422 | |
JP Morgan Chase Commercial Mortgage Securities Trust, | |||
Series 2013-LC11, Class AS, 3.22%, 04/15/2046 | 11,069 | 10,250 | |
Series 2014-C20, Class AS, 4.04%, 07/15/2047 | 220,000 | 216,628 | |
JP Morgan Mortgage Trust, | |||
Series 2007-A1, Class 5A1, 5.04%, 07/25/2035(i) | 11,801 | 11,515 | |
Series 2021-LTV2, Class A1, 2.52%, 05/25/2052(b)(i) | 331,989 | 274,357 | |
Series 2024-VIS1, Class A1, 5.99%, 07/25/2064(b)(i) | 255,000 | 255,924 | |
JPMBB Commercial Mortgage Securities Trust, | |||
Series 2014-C24, Class B, 4.12%, 11/15/2047(i) | 245,000 | 219,458 | |
Series 2014-C25, Class AS, 4.07%, 11/15/2047 | 200,000 | 186,777 | |
Series 2015-C27, Class XA, IO, 1.14%, 02/15/2048(j) | 1,806,600 | 9,212 | |
KKR CLO 30 Ltd., Series 30A, Class A1R, 6.60% (3 mo. Term SOFR + 1.28%), 10/17/2031(b)(f) | 268,000 | 268,140 | |
Lehman Structured Securities Corp., Series 2002-GE1, Class A, 0.00%, 07/26/2024(b)(i)(k) | 8,264 | 7 | |
Life Mortgage Trust, | |||
Series 2021-BMR, Class A, 6.14% (1 mo. Term SOFR + 0.81%), 03/15/2038(b)(f) | 152,360 | 150,759 | |
Series 2021-BMR, Class B, 6.32% (1 mo. Term SOFR + 0.99%), 03/15/2038(b)(f) | 334,210 | 330,080 | |
Series 2021-BMR, Class C, 6.54% (1 mo. Term SOFR + 1.21%), 03/15/2038(b)(f) | 108,127 | 106,768 | |
Madison Park Funding XLVIII Ltd., Series 2021-48A, Class A, 6.72% (3 mo. Term SOFR + 1.41%), 04/19/2033(b)(f) | 742,000 | 742,596 | |
MASTR Asset Backed Securities Trust, Series 2006-WMC3, Class A3, 5.64% (1 mo. Term SOFR + 0.31%), 08/25/2036(f) | 34,961 | 12,347 | |
Med Trust, Series 2021-MDLN, Class A, 6.39% (1 mo. Term SOFR + 1.06%), 11/15/2038(b)(f) | 263,734 | 263,261 | |
Mello Mortgage Capital Acceptance Trust, | |||
Series 2021-INV2, Class A4, 2.50%, 08/25/2051(b)(i) | 189,052 | 164,668 | |
Series 2021-INV3, Class A4, 2.50%, 10/25/2051(b)(i) | 181,001 | 157,433 | |
Merrill Lynch Mortgage Investors Trust, Series 2005-3, Class 3A, 2.39%, 11/25/2035(i) | 5,012 | 4,623 | |
MFA Trust, Series 2021-INV2, Class A1, 1.91%, 11/25/2056(b)(i) | 249,712 | 215,383 |
Principal Amount | Value | ||
MHP Commercial Mortgage Trust, | |||
Series 2021-STOR, Class A, 6.14% (1 mo. Term SOFR + 0.81%), 07/15/2038(b)(f) | $125,000 | $124,177 | |
Series 2021-STOR, Class B, 6.34% (1 mo. Term SOFR + 1.01%), 07/15/2038(b)(f) | 105,000 | 103,903 | |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C19, Class AS, 3.83%, 12/15/2047 | 595,000 | 577,895 | |
Morgan Stanley Capital I Trust, | |||
Series 2017-HR2, Class XA, IO, 0.85%, 12/15/2050(j) | 541,537 | 14,371 | |
Series 2019-L2, Class A4, 4.07%, 03/15/2052 | 80,000 | 75,367 | |
Series 2019-L3, Class AS, 3.49%, 11/15/2052 | 60,000 | 53,127 | |
Morgan Stanley Re-REMIC Trust, Series 2012-R3, Class 1B, 6.00%, 11/26/2036(b)(i) | 198,601 | 168,583 | |
Neuberger Berman Loan Advisers CLO 24 Ltd., Series 2017-24A, Class AR, 6.59% (3 mo. Term SOFR + 1.28%), 04/19/2030(b)(f) | 255,249 | 255,373 | |
Neuberger Berman Loan Advisers CLO 40 Ltd., Series 2021-40A, Class A, 6.64% (3 mo. Term SOFR + 1.32%), 04/16/2033(b)(f) | 250,000 | 250,226 | |
New Residential Mortgage Loan Trust, | |||
Series 2019-NQM4, Class A1, 2.49%, 09/25/2059(b)(i) | 13,743 | 12,714 | |
Series 2020-NQM1, Class A1, 2.46%, 01/26/2060(b)(i) | 18,025 | 16,518 | |
Series 2022-NQM2, Class A1, 3.08%, 03/27/2062(b)(i) | 222,069 | 201,804 | |
OBX Trust, | |||
Series 2022-NQM1, Class A1, 2.31%, 11/25/2061(b)(i) | 260,534 | 224,637 | |
Series 2022-NQM2, Class A1, 2.96%, 01/25/2062(b)(i) | 301,842 | 276,915 | |
Series 2022-NQM2, Class A1A, 2.78%, 01/25/2062(b)(h) | 209,532 | 194,590 | |
Series 2022-NQM2, Class A1B, 3.38%, 01/25/2062(b)(h) | 235,000 | 200,288 | |
Oceanview Mortgage Trust, Series 2021-3, Class A5, 2.50%, 07/25/2051(b)(i) | 226,182 | 197,638 | |
OCP CLO Ltd. (Cayman Islands), | |||
Series 2017-13A, Class A1AR, 6.54% (3 mo. Term SOFR + 1.22%), 07/15/2030(b)(f) | 235,582 | 235,771 | |
Series 2020-8RA, Class A1, 6.80% (3 mo. Term SOFR + 1.48%), 01/17/2032(b)(f) | 433,000 | 433,303 | |
OHA Loan Funding Ltd., Series 2016-1A, Class AR, 6.84% (3 mo. Term SOFR + 1.52%), 01/20/2033(b)(f) | 287,936 | 288,296 | |
One Bryant Park Trust, Series 2019-OBP, Class A, 2.52%, 09/15/2054(b) | 114,000 | 97,526 | |
Onslow Bay Mortgage Loan Trust, Series 2021-NQM4, Class A1, 1.96%, 10/25/2061(b)(i) | 290,112 | 240,873 |
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Core Plus Bond Fund
Principal Amount | Value | ||
Progress Residential Trust, | |||
Series 2021-SFR10, Class A, 2.39%, 12/17/2040(b) | $235,023 | $208,841 | |
Series 2022-SFR5, Class A, 4.45%, 06/17/2039(b) | 251,287 | 245,105 | |
Qdoba Funding LLC, Series 2023-1A, Class A2, 8.50%, 09/14/2053(b) | 357,105 | 369,274 | |
Race Point VIII CLO Ltd., Series 2013-8A, Class AR2, 6.62% (3 mo. Term SOFR + 1.30%), 02/20/2030(b)(f) | 176,366 | 176,390 | |
Residential Accredit Loans, Inc. Trust, | |||
Series 2006-QS13, Class 1A8, 6.00%, 09/25/2036 | 243 | 182 | |
Series 2007-QS6, Class A28, 5.75%, 04/25/2037 | 3,181 | 2,480 | |
Residential Mortgage Loan Trust, Series 2020-1, Class A1, 2.38%, 01/26/2060(b)(i) | 17,356 | 16,612 | |
RUN Trust, Series 2022-NQM1, Class A1, 4.00%, 03/25/2067(b) | 207,376 | 198,095 | |
SG Residential Mortgage Trust, | |||
Series 2022-1, Class A1, 3.17%, 03/27/2062(b)(i) | 343,578 | 313,254 | |
Series 2022-1, Class A2, 3.58%, 03/27/2062(b)(i) | 113,076 | 101,766 | |
Sonic Capital LLC, | |||
Series 2020-1A, Class A2I, 3.85%, 01/20/2050(b) | 48,208 | 45,707 | |
Series 2021-1A, Class A2I, 2.19%, 08/20/2051(b) | 156,000 | 135,355 | |
Series 2021-1A, Class A2II, 2.64%, 08/20/2051(b) | 156,000 | 126,709 | |
STAR Trust, Series 2021-1, Class A1, 1.22%, 05/25/2065(b)(i) | 131,260 | 115,080 | |
Starwood Mortgage Residential Trust, | |||
Series 2020-1, Class A1, 2.28%, 02/25/2050(b)(i) | 8,828 | 8,292 | |
Series 2020-INV1, Class A1, 1.03%, 11/25/2055(b)(i) | 20,372 | 18,840 | |
Series 2021-6, Class A1, 1.92%, 11/25/2066(b)(i) | 346,645 | 291,136 | |
Series 2022-1, Class A1, 2.45%, 12/25/2066(b)(i) | 267,734 | 230,384 | |
Structured Adjustable Rate Mortgage Loan Trust, Series 2004-12, Class 3A2, 5.84%, 09/25/2034(i) | 1,963 | 1,905 | |
Structured Asset Securities Corp. Mortgage Pass-Through Ctfs., Series 2003-34A, Class 5A5, 6.55%, 11/25/2033(i) | 22,787 | 21,712 | |
Symphony CLO XXII Ltd., Series 2020-22A, Class A1A, 6.85% (3 mo. Term SOFR + 1.55%), 04/18/2033(b)(f) | 250,000 | 250,118 | |
Synchrony Card Funding LLC, Series 2022-A2, Class A, 3.86%, 07/15/2028 | 428,000 | 419,920 | |
Textainer Marine Containers VII Ltd., Series 2021-2A, Class A, 2.23%, 04/20/2046(b) | 337,333 | 302,768 | |
Thornburg Mortgage Securities Trust, Series 2005-1, Class A3, 4.66%, 04/25/2045(i) | 13,784 | 13,093 |
Principal Amount | Value | ||
TICP CLO XV Ltd., Series 2020-15A, Class A, 6.86% (3 mo. Term SOFR + 1.54%), 04/20/2033(b)(f) | $521,000 | $521,651 | |
TierPoint Issuer LLC, Series 2023-1A, Class A2, 6.00%, 06/25/2053(b) | 352,000 | 333,025 | |
Tricon American Homes Trust, Series 2020-SFR2, Class A, 1.48%, 11/17/2039(b) | 261,491 | 230,376 | |
UBS Commercial Mortgage Trust, | |||
Series 2017-C5, Class XA, IO, 1.07%, 11/15/2050(j) | 954,949 | 23,944 | |
Series 2019-C16, Class A4, 3.60%, 04/15/2052 | 80,000 | 73,273 | |
Verus Securitization Trust, | |||
Series 2020-1, Class A1, 3.42%, 01/25/2060(b)(h) | 43,209 | 41,368 | |
Series 2020-1, Class A2, 3.64%, 01/25/2060(b)(h) | 44,962 | 43,112 | |
Series 2020-INV1, Class A1, 0.33%, 03/25/2060(b)(i) | 1,790 | 1,781 | |
Series 2021-1, Class A1B, 1.32%, 01/25/2066(b)(i) | 78,019 | 68,409 | |
Series 2021-7, Class A1, 1.83%, 10/25/2066(b)(i) | 280,697 | 244,161 | |
Series 2021-R1, Class A1, 0.82%, 10/25/2063(b)(i) | 85,174 | 77,380 | |
Series 2022-1, Class A1, 2.72%, 01/25/2067(b)(h) | 221,917 | 200,722 | |
Series 2022-3, Class A1, 4.13%, 02/25/2067(b)(h) | 237,636 | 223,460 | |
Series 2022-7, Class A1, 5.15%, 07/25/2067(b)(h) | 94,214 | 93,589 | |
Series 2022-INV2, Class A1, 6.79%, 10/25/2067(b)(h) | 127,656 | 128,477 | |
Visio Trust, Series 2020-1R, Class A1, 1.31%, 11/25/2055(b) | 43,566 | 40,575 | |
WaMu Mortgage Pass-Through Ctfs. Trust, | |||
Series 2003-AR10, Class A7, 5.85%, 10/25/2033(i) | 17,009 | 15,980 | |
Series 2005-AR14, Class 1A4, 4.92%, 12/25/2035(i) | 41,713 | 36,844 | |
Series 2005-AR16, Class 1A1, 4.86%, 12/25/2035(i) | 20,209 | 18,079 | |
Wells Fargo Commercial Mortgage Trust, Series 2017-C42, Class XA, IO, 0.86%, 12/15/2050(j) | 852,204 | 22,206 | |
Wendy’s Funding LLC, Series 2018-1A, Class A2II, 3.88%, 03/15/2048(b) | 56,246 | 53,183 | |
WF Card Issuance Trust, Series 2024-A1, Class A, 4.94%, 02/15/2029 | 507,000 | 508,288 | |
WFRBS Commercial Mortgage Trust, | |||
Series 2013-C14, Class AS, 3.49%, 06/15/2046 | 34,927 | 32,875 | |
Series 2014-C20, Class AS, 4.18%, 05/15/2047 | 130,000 | 123,862 | |
Zaxby’s Funding LLC, Series 2021-1A, Class A2, 3.24%, 07/30/2051(b) | 498,712 | 442,354 | |
Ziply Fiber Issuer LLC, Series 2024-1A, Class A2, 6.64%, 04/20/2054(b) | 248,000 | 248,777 | |
Total Asset-Backed Securities (Cost $32,687,130) | 30,318,178 |
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Core Plus Bond Fund
Principal Amount | Value | ||
U.S. Government Sponsored Agency Mortgage-Backed Securities–15.93% | |||
Collateralized Mortgage Obligations–0.61% | |||
Fannie Mae Interest STRIPS, | |||
IO, 7.00%, 02/25/2028 to 04/25/2032(l) | $48,484 | $7,749 | |
6.50%, 04/25/2029 to 02/25/2033(j)(l) | 156,272 | 21,202 | |
7.50%, 11/25/2029(l) | 8,134 | 1,085 | |
6.00%, 02/25/2033 to 03/25/2036(j)(l) | 134,592 | 20,725 | |
5.50%, 09/25/2033 to 06/25/2035(j)(l) | 198,564 | 29,435 | |
Fannie Mae REMICs, | |||
IO, 3.00%, 11/25/2027(l) | 26,133 | 808 | |
1.67% (7.10% - (30 Day Average SOFR + 0.11%)), 11/25/2030(f)(l) | 23,435 | 1,179 | |
2.47% (7.90% - (30 Day Average SOFR + 0.11%)), 11/18/2031 to 12/18/2031(f)(l) | 1,686 | 138 | |
2.47% (7.90% - (30 Day Average SOFR + 0.11%)), 11/25/2031(f)(l) | 35,188 | 2,932 | |
1.82% (7.25% - (30 Day Average SOFR + 0.11%)), 01/25/2032(f)(l) | 1,831 | 153 | |
2.52% (7.95% - (30 Day Average SOFR + 0.11%)), 01/25/2032(f)(l) | 8,819 | 717 | |
2.57% (8.00% - (30 Day Average SOFR + 0.11%)), 03/18/2032 to 12/18/2032(f)(l) | 3,343 | 272 | |
2.67% (8.10% - (30 Day Average SOFR + 0.11%)), 03/25/2032 to 04/25/2032(f)(l) | 2,799 | 255 | |
1.57% (7.00% - (30 Day Average SOFR + 0.11%)), 04/25/2032 to 09/25/2032(f)(l) | 8,671 | 633 | |
2.37% (7.80% - (30 Day Average SOFR + 0.11%)), 04/25/2032(f)(l) | 287 | 28 | |
2.57% (8.00% - (30 Day Average SOFR + 0.11%)), 04/25/2032 to 12/25/2032(f)(l) | 132,186 | 13,003 | |
2.67% (8.10% - (30 Day Average SOFR + 0.11%)), 12/18/2032(f)(l) | 11,251 | 651 | |
2.82% (8.25% - (30 Day Average SOFR + 0.11%)), 02/25/2033 to 05/25/2033(f)(l) | 50,470 | 6,487 | |
7.00%, 04/25/2033(l) | 1,843 | 243 | |
0.62% (6.05% - (30 Day Average SOFR + 0.11%)), 03/25/2035 to 07/25/2038(f)(l) | 25,174 | 1,492 | |
1.32% (6.75% - (30 Day Average SOFR + 0.11%)), 03/25/2035 to 05/25/2035(f)(l) | 8,352 | 466 | |
1.17% (6.60% - (30 Day Average SOFR + 0.11%)), 05/25/2035(f)(l) | 16,869 | 896 | |
1.27% (6.70% - (30 Day Average SOFR + 0.11%)), 05/25/2035(f)(l) | 66,130 | 4,603 | |
3.50%, 08/25/2035(l) | 155,318 | 17,695 | |
0.67% (6.10% - (30 Day Average SOFR + 0.11%)), 10/25/2035(f)(l) | 61,803 | 4,641 | |
4.00%, 04/25/2041 to 08/25/2047(l) | 53,965 | 7,703 | |
1.12% (6.55% - (30 Day Average SOFR + 0.11%)), 10/25/2041(f)(l) | 16,502 | 1,076 |
Principal Amount | Value | ||
Collateralized Mortgage Obligations–(continued) | |||
0.72% (6.15% - (30 Day Average SOFR + 0.11%)), 12/25/2042(f)(l) | $41,318 | $4,303 | |
5.50%, 07/25/2046(l) | 43,508 | 5,510 | |
0.47% (5.90% - (30 Day Average SOFR + 0.11%)), 09/25/2047(f)(l) | 275,086 | 21,992 | |
6.50%, 10/25/2028 to 10/25/2031 | 36,010 | 36,257 | |
6.00%, 11/25/2028 to 12/25/2031 | 41,599 | 42,169 | |
5.68% (30 Day Average SOFR + 0.36%), 08/25/2035(f) | 339 | 335 | |
4.64% (24.57% - (3.67 x (30 Day Average SOFR + 0.11%))), 03/25/2036(f) | 26,209 | 30,358 | |
4.27% (24.20% - (3.67 x (30 Day Average SOFR + 0.11%))), 06/25/2036(f) | 15,790 | 16,813 | |
4.27% (24.20% - (3.67 x (30 Day Average SOFR + 0.11%))), 06/25/2036(f) | 12,504 | 13,578 | |
6.37% (30 Day Average SOFR + 1.05%), 06/25/2037(f) | 9,273 | 9,356 | |
Freddie Mac Multifamily Structured Pass-Through Ctfs., | |||
Series KC03, Class X1, IO, 0.63%, 11/25/2024(j) | 2,417,833 | 6,510 | |
Series K734, Class X1, IO, 0.64%, 02/25/2026(j) | 1,951,897 | 16,727 | |
Series K735, Class X1, IO, 1.10%, 05/25/2026(j) | 1,980,155 | 31,017 | |
Series K083, Class AM, 4.03%, 10/25/2028(i) | 23,000 | 22,319 | |
Series K085, Class AM, 4.06%, 10/25/2028(i) | 23,000 | 22,402 | |
Series K089, Class AM, 3.63%, 01/25/2029(i) | 39,000 | 37,319 | |
Series K088, Class AM, 3.76%, 01/25/2029(i) | 92,000 | 88,555 | |
Series K093, Class X1, IO, 0.94%, 05/25/2029(j) | 1,626,549 | 62,904 | |
Freddie Mac REMICs, | |||
IO, 2.22% (7.65% - (30 Day Average SOFR + 0.11%)), 07/15/2026 to 03/15/2029(f)(l) | 24,837 | 654 | |
3.00%, 06/15/2027 to 05/15/2040(l) | 90,781 | 3,021 | |
2.50%, 05/15/2028(l) | 21,753 | 708 | |
3.27% (8.70% - (30 Day Average SOFR + 0.11%)), 07/17/2028(f)(l) | 2 | 0 | |
2.67% (8.10% - (30 Day Average SOFR + 0.11%)), 06/15/2029(f)(l) | 491 | 27 | |
1.27% (6.70% - (30 Day Average SOFR + 0.11%)), 01/15/2035(f)(l) | 138,211 | 6,513 | |
1.32% (6.75% - (30 Day Average SOFR + 0.11%)), 02/15/2035(f)(l) | 14,216 | 696 | |
1.29% (6.72% - (30 Day Average SOFR + 0.11%)), 05/15/2035(f)(l) | 13,913 | 677 | |
0.72% (6.15% - (30 Day Average SOFR + 0.11%)), 07/15/2035(f)(l) | 3,663 | 137 | |
1.57% (7.00% - (30 Day Average SOFR + 0.11%)), 12/15/2037(f)(l) | 2,995 | 265 | |
0.57% (6.00% - (30 Day Average SOFR + 0.11%)), 04/15/2038(f)(l) | 3,249 | 245 |
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Core Plus Bond Fund
Principal Amount | Value | |||
Collateralized Mortgage Obligations–(continued) | ||||
0.64% (6.07% - (30 Day Average SOFR + 0.11%)), 05/15/2038(f)(l) | $101,597 | $7,595 | ||
0.82% (6.25% - (30 Day Average SOFR + 0.11%)), 12/15/2039(f)(l) | 24,067 | 1,560 | ||
0.67% (6.10% - (30 Day Average SOFR + 0.11%)), 01/15/2044(f)(l) | 39,775 | 2,955 | ||
4.00%, 03/15/2045(l) | 9,175 | 234 | ||
6.50%, 02/15/2028 to 06/15/2032 | 149,416 | 150,960 | ||
8.00%, 03/15/2030 | 238 | 245 | ||
6.43% (30 Day Average SOFR + 1.11%), 02/15/2032(f) | 359 | 363 | ||
3.50%, 05/15/2032 | 5,802 | 5,594 | ||
4.83% (24.75% - (3.67 x (30 Day Average SOFR + 0.11%))), 08/15/2035(f) | 3,792 | 4,443 | ||
5.83% (30 Day Average SOFR + 0.51%), 09/15/2035(f) | 534 | 528 | ||
Freddie Mac STRIPS, | ||||
PO, 0.00%, 06/01/2026(k) | 2,418 | 2,311 | ||
IO, 3.00%, 12/15/2027(l) | 37,380 | 1,528 | ||
3.27%, 12/15/2027(j) | 10,074 | 368 | ||
7.00%, 09/01/2029(l) | 1,023 | 119 | ||
7.50%, 12/15/2029(l) | 22,618 | 2,871 | ||
6.00%, 12/15/2032(l) | 14,004 | 1,585 | ||
810,893 | ||||
Federal Home Loan Mortgage Corp. (FHLMC)–0.17% | ||||
9.00%, 01/01/2025 to 05/01/2025 | 215 | 216 | ||
6.50%, 07/01/2028 to 04/01/2034 | 30,494 | 31,500 | ||
6.00%, 10/01/2029 | 29,868 | 30,330 | ||
7.00%, 10/01/2031 to 10/01/2037 | 15,015 | 15,501 | ||
5.00%, 12/01/2034 | 648 | 653 | ||
5.50%, 09/01/2039 | 65,009 | 66,303 | ||
4.00%, 11/01/2048 to 07/01/2049 | 81,654 | 76,782 | ||
221,285 | ||||
Federal National Mortgage Association (FNMA)–0.24% | ||||
7.00%, 01/01/2030 to 12/01/2032 | 5,321 | 5,488 | ||
3.50%, 12/01/2030 to 05/01/2047 | 308,271 | 282,462 | ||
6.50%, 09/01/2031 to 01/01/2034 | 1,999 | 2,044 | ||
7.50%, 01/01/2033 | 752 | 765 | ||
5.50%, 02/01/2035 to 05/01/2036 | 34,363 | 35,090 | ||
325,849 |
Principal Amount | Value | |||
Government National Mortgage Association (GNMA)–3.77% | ||||
7.00%, 03/15/2026 to 08/15/2031 | $434 | $439 | ||
6.50%, 11/15/2031 | 653 | 667 | ||
6.00%, 11/15/2032 | 521 | 526 | ||
4.00%, 07/20/2049 | 24,783 | 23,441 | ||
IO, 1.11% (6.55% - (1 mo. Term SOFR + 0.11%)), 04/16/2037(f)(l) | 19,238 | 1,237 | ||
1.21% (6.65% - (1 mo. Term SOFR + 0.11%)), 04/16/2041(f)(l) | 115,959 | 6,269 | ||
4.50%, 09/16/2047(l) | 101,542 | 15,315 | ||
0.76% (6.20% - (1 mo. Term SOFR + 0.11%)), 10/16/2047(f)(l) | 97,737 | 11,723 | ||
TBA, 2.00%, 04/01/2054(m) | 345,000 | 282,702 | ||
4.50%, 04/01/2054(m) | 2,685,000 | 2,580,245 | ||
5.50%, 04/01/2054(m) | 2,088,000 | 2,086,365 | ||
5,008,929 | ||||
Uniform Mortgage-Backed Securities–11.14% | ||||
TBA, 2.00%, 04/01/2039 to 04/01/2054(m) | 1,286,000 | 1,096,606 | ||
3.50%, 04/01/2054(m) | 3,400,000 | 3,043,114 | ||
5.00%, 04/01/2054(m) | 6,135,000 | 5,986,652 | ||
5.50%, 04/01/2054(m) | 4,700,000 | 4,677,405 | ||
14,803,777 | ||||
Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $22,368,262) | 21,170,733 | |||
U.S. Treasury Securities–14.46% | ||||
U.S. Treasury Bills–0.34%(n) | ||||
4.75% - 5.36%, 04/18/2024(o) | 453,000 | 451,967 | ||
U.S. Treasury Bonds–4.92% | ||||
4.50%, 02/15/2044(e) | 3,234,500 | 3,253,200 | ||
4.75%, 11/15/2053 | 3,075,500 | 3,283,817 | ||
6,537,017 | ||||
U.S. Treasury Notes–9.20% | ||||
4.63%, 02/28/2026 | 1,812,600 | 1,811,255 | ||
4.25%, 03/15/2027 | 264,000 | 262,804 | ||
4.25%, 02/28/2029(e) | 3,269,200 | 3,274,053 | ||
4.25%, 02/28/2031 | 682,600 | 683,933 | ||
4.00%, 02/15/2034 | 6,300,000 | 6,196,640 | ||
12,228,685 | ||||
Total U.S. Treasury Securities (Cost $19,121,734) | 19,217,669 | |||
Agency Credit Risk Transfer Notes–0.64% | ||||
Fannie Mae Connecticut Avenue Securities, | ||||
Series 2022-R03, Class 1M1, 7.42% (30 Day Average SOFR + 2.10%), 03/25/2042(b)(f) | 253,873 | 257,619 | ||
Series 2022-R04, Class 1M1, 7.32% (30 Day Average SOFR + 2.00%), 03/25/2042(b)(f) | 135,143 | 136,781 | ||
Series 2023-R02, Class 1M1, 7.62% (30 Day Average SOFR + 2.30%), 01/25/2043(b)(f) | 87,887 | 90,032 |
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Core Plus Bond Fund
Principal Amount | Value | |||
Freddie Mac, | ||||
Series 2022-DNA3, Class M1A, STACR®, 7.32% (30 Day Average SOFR + 2.00%), 04/25/2042(b)(f) | $180,954 | $183,361 | ||
Series 2022-HQA3, Class M1, STACR®, 7.62% (30 Day Average SOFR + 2.30%), 08/25/2042(b)(f) | 114,680 | 117,188 | ||
Series 2023-DNA1, Class M1, STACR®, 7.42% (30 Day Average SOFR + 2.10%), 03/25/2043(b)(f) | 71,286 | 72,773 | ||
Total Agency Credit Risk Transfer Notes (Cost $843,824) | 857,754 | |||
Shares | ||||
Preferred Stocks–0.55% | ||||
Diversified Banks–0.17% | ||||
Bank of America Corp., 6.50%, Series Z, Pfd.(c) | 5,000 | 5,017 | ||
Citigroup, Inc., 6.25%, Series T, Pfd.(c) | 12,000 | 12,061 | ||
Citigroup, Inc., 5.00%, Series U, Pfd.(c) | 179,000 | 178,342 | ||
Citigroup, Inc., 4.00%, Series W, Pfd.(c) | 22,000 | 21,147 | ||
Wells Fargo & Co., 7.50%, Class A, Series L, Conv. Pfd. | 10 | 12,193 | ||
228,760 | ||||
Diversified Financial Services–0.27% | ||||
Apollo Global Management, Inc., 7.63%, Pfd.(c) | 13,475 | 356,414 | ||
Investment Banking & Brokerage–0.11% | ||||
Goldman Sachs Group, Inc. (The), 8.44% (3 mo. Term SOFR + 3.14%), Series P, Pfd.(f) | 16,000 | 16,004 | ||
Morgan Stanley, 6.88%, Series F, Pfd. | 5,000 | 125,800 | ||
141,804 | ||||
Life & Health Insurance–0.00% | ||||
MetLife, Inc., 3.85%, Series G, Pfd.(c) | 2,000 | 1,927 | ||
Total Preferred Stocks (Cost $710,580) | 728,905 | |||
Principal Amount | ||||
Municipal Obligations–0.34% | ||||
California (State of) Health Facilities Financing Authority (Social Bonds), | ||||
Series 2022, RB, 4.19%, 06/01/2037 | $150,000 | 139,611 | ||
Series 2022, RB, 4.35%, 06/01/2041 | 110,000 | 100,921 |
Principal Amount | Value | ||
Texas (State of) Transportation Commission (Central Texas Turnpike System), Series 2020 C, Ref. RB, 3.03%, 08/15/2041 | $280,000 | $213,489 | |
Total Municipal Obligations (Cost $539,647) | 454,021 | ||
Non-U.S. Dollar Denominated Bonds & Notes–0.08%(p) | |||
Movies & Entertainment–0.08% | |||
Netflix, Inc., 3.88%, 11/15/2029(b) (Cost $111,565) | EUR | 100,000 | 110,465 |
Shares | |||
Money Market Funds–11.12% | |||
Invesco Government & Agency Portfolio, Institutional Class, 5.24%(q)(r) | 5,167,894 | 5,167,894 | |
Invesco Liquid Assets Portfolio, Institutional Class, 5.35%(q)(r) | 3,706,971 | 3,708,454 | |
Invesco Treasury Portfolio, Institutional Class, 5.21%(q)(r) | 5,906,164 | 5,906,164 | |
Total Money Market Funds (Cost $14,781,969) | 14,782,512 | ||
TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-113.88% (Cost $153,946,639) | 151,377,924 | ||
Investments Purchased with Cash Collateral from Securities on Loan | |||
Money Market Funds–5.73% | |||
Invesco Private Government Fund, 7.57%(q)(r)(s) | 2,143,702 | 2,143,702 | |
Invesco Private Prime Fund, 5.49%(q)(r)(s) | 5,474,669 | 5,477,406 | |
Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $7,621,108) | 7,621,108 | ||
TOTAL INVESTMENTS IN SECURITIES–119.61% (Cost $161,567,747) | 158,999,032 | ||
OTHER ASSETS LESS LIABILITIES—(19.61)% | (26,064,075) | ||
NET ASSETS–100.00% | $132,934,957 |
Investment Abbreviations:
Conv. | – Convertible |
Ctfs. | – Certificates |
EUR | – Euro |
IO | – Interest Only |
Pfd. | – Preferred |
PO | – Principal Only |
RB | – Revenue Bonds |
Ref. | – Refunding |
REIT | – Real Estate Investment Trust |
REMICs | – Real Estate Mortgage Investment Conduits |
SOFR | – Secured Overnight Financing Rate |
STACR® | – Structured Agency Credit Risk |
STRIPS | – Separately Traded Registered Interest and Principal Security |
TBA | – To Be Announced |
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Core Plus Bond Fund
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 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 March 31, 2024 was $53,991,025, which represented 40.61% of the Fund’s Net Assets. |
(c) | Security issued at a fixed rate for a specific period of time, after which it will convert to a variable rate. |
(d) | Perpetual bond with no specified maturity date. |
(e) | All or a portion of this security was out on loan at March 31, 2024. |
(f) | Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on March 31, 2024. |
(g) | Security valued using significant unobservable inputs (Level 3). See Note 1. |
(h) | Step coupon bond. The interest rate represents the coupon rate at which the bond will accrue at a specified future date. |
(i) | Interest rate is redetermined periodically based on the cash flows generated by the pool of assets backing the security, less any applicable fees. The rate shown is the rate in effect on March 31, 2024. |
(j) | Interest only security. Principal amount shown is the notional principal and does not reflect the maturity value of the security. Interest rate is redetermined periodically based on the cash flows generated by the pool of assets backing the security, less any applicable fees. The rate shown is the rate in effect on March 31, 2024. |
(k) | Zero coupon bond issued at a discount. |
(l) | Interest only security. Principal amount shown is the notional principal and does not reflect the maturity value of the security. |
(m) | Security purchased on a forward commitment basis. This security is subject to dollar roll transactions. |
(n) | All or a portion of the value was pledged as collateral to cover margin requirements for open futures contracts. |
(o) | Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund. |
(p) | Foreign denominated security. Principal amount is denominated in the currency indicated. |
(q) | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended March 31, 2024. |
Value December 31, 2023 | Purchases at Cost | Proceeds from Sales | Change in Unrealized Appreciation (Depreciation) | Realized Gain (Loss) | Value March 31, 2024 | Dividend Income | |
Investments in Affiliated Money Market Funds: | |||||||
Invesco Government & Agency Portfolio, Institutional Class | $4,138,168 | $6,437,011 | $(5,407,285) | $- | $- | $5,167,894 | $67,923 |
Invesco Liquid Assets Portfolio, Institutional Class | 2,974,042 | 4,597,864 | (3,862,347) | (902) | (203) | 3,708,454 | 50,212 |
Invesco Treasury Portfolio, Institutional Class | 4,729,334 | 7,356,584 | (6,179,754) | - | - | 5,906,164 | 77,426 |
Investments Purchased with Cash Collateral from Securities on Loan: | |||||||
Invesco Private Government Fund | 1,741,006 | 17,038,715 | (16,636,019) | - | - | 2,143,702 | 22,708* |
Invesco Private Prime Fund | 4,449,580 | 33,367,018 | (32,339,059) | (1,118) | 985 | 5,477,406 | 61,405* |
Total | $18,032,130 | $68,797,192 | $(64,424,464) | $(2,020) | $782 | $22,403,620 | $279,674 |
* | Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any. |
(r) | The rate shown is the 7-day SEC standardized yield as of March 31, 2024. |
(s) | The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned. |
Open Futures Contracts | |||||
Long Futures Contracts | Number of Contracts | Expiration Month | Notional Value | Value | Unrealized Appreciation (Depreciation) |
Interest Rate Risk | |||||
U.S. Treasury 2 Year Notes | 82 | June-2024 | $16,767,719 | $(20,489) | $(20,489) |
U.S. Treasury 10 Year Notes | 63 | June-2024 | 6,980,203 | 36,113 | 36,113 |
U.S. Treasury Long Bonds | 40 | June-2024 | 4,817,500 | 60,148 | 60,148 |
U.S. Treasury Ultra Bonds | 28 | June-2024 | 3,612,000 | 66,211 | 66,211 |
Subtotal—Long Futures Contracts | 141,983 | 141,983 | |||
Short Futures Contracts | |||||
Interest Rate Risk | |||||
U.S. Treasury 5 Year Notes | 49 | June-2024 | (5,243,766) | 4,232 | 4,232 |
U.S. Treasury 10 Year Ultra Notes | 107 | June-2024 | (12,263,203) | (49,552) | (49,552) |
Subtotal—Short Futures Contracts | (45,320) | (45,320) | |||
Total Futures Contracts | $96,663 | $96,663 |
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Core Plus Bond Fund
Open Forward Foreign Currency Contracts | ||||||
Settlement Date | Counterparty | Contract to | Unrealized Appreciation (Depreciation) | |||
Deliver | Receive | |||||
Currency Risk | ||||||
05/15/2024 | Goldman Sachs International | EUR | 159,000 | USD | 171,618 | $(207) |
Abbreviations: | |
EUR | —Euro |
USD | —U.S. Dollar |
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.
Invesco V.I. Core Plus Bond Fund
Notes to Quarterly Schedule of Portfolio Holdings
March 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 assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.
The following is a summary of the tiered valuation input levels, as of March 31, 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 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 | ||||
U.S. Dollar Denominated Bonds & Notes | $— | $63,053,898 | $683,789 | $63,737,687 |
Asset-Backed Securities | — | 30,318,178 | — | 30,318,178 |
U.S. Government Sponsored Agency Mortgage-Backed Securities | — | 21,170,733 | — | 21,170,733 |
U.S. Treasury Securities | — | 19,217,669 | — | 19,217,669 |
Agency Credit Risk Transfer Notes | — | 857,754 | — | 857,754 |
Preferred Stocks | 494,407 | 234,498 | — | 728,905 |
Municipal Obligations | — | 454,021 | — | 454,021 |
Non-U.S. Dollar Denominated Bonds & Notes | — | 110,465 | — | 110,465 |
Money Market Funds | 14,782,512 | 7,621,108 | — | 22,403,620 |
Total Investments in Securities | 15,276,919 | 143,038,324 | 683,789 | 158,999,032 |
Other Investments - Assets* | ||||
Futures Contracts | 166,704 | — | — | 166,704 |
Other Investments - Liabilities* | ||||
Futures Contracts | (70,041) | — | — | (70,041) |
Forward Foreign Currency Contracts | — | (207) | — | (207) |
(70,041) | (207) | — | (70,248) | |
Total Other Investments | 96,663 | (207) | — | 96,456 |
Total Investments | $15,373,582 | $143,038,117 | $683,789 | $159,095,488 |
* | Unrealized appreciation (depreciation). |
Invesco V.I. Core Plus Bond Fund