# EDGAR Filing Document

**Accession Number:** 0000896435
**File Stem:** 0000896435-26-000373
**Filing Date:** 2026-5
**Character Count:** 207943
**Document Hash:** 8725ed45968f0e00e12dbc456cff798a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000896435-26-000373.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0000896435-26-000373

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)
- **CENTRAL INDEX KEY:** 0000896435

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07452
- **FILM NUMBER:** 261042556

**BUSINESS ADDRESS:**
- **STREET 1:** 11 GREENWAY PLAZA
- **STREET 2:** SUITE 1000
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77046
- **BUSINESS PHONE:** 7136261919

**MAIL ADDRESS:**
- **STREET 1:** 11 GREENWAY PLAZA
- **STREET 2:** SUITE 1000
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77046

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIM VARIABLE INSURANCE FUNDS
- **DATE OF NAME CHANGE:** 20000719

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIM VARIABLE INSURANCE FUNDS INC
- **DATE OF NAME CHANGE:** 19930714

## Series and Classes Contracts Data

### INVESCO V.I. High Yield Fund (Series ID: S000000181)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000000408 | Series I     |  |
| C000000409 | Series II    |  |

## Nport-Ex

**Schedule of Investments**<sup>(a)</sup> 

*March 31, 2026*

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **U.S. Dollar Denominated Bonds & Notes–84.80%** | **U.S. Dollar Denominated Bonds & Notes–84.80%** | **U.S. Dollar Denominated Bonds & Notes–84.80%** | **U.S. Dollar Denominated Bonds & Notes–84.80%** |
| **Aerospace & Defense–1.35%** | **Aerospace & Defense–1.35%** | **Aerospace & Defense–1.35%** | **Aerospace & Defense–1.35%** |
| TransDigm, Inc., | TransDigm, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/15/2033<sup>(b)</sup> <br>|  | $119000 | &nbsp;&nbsp; $119066 |
| &nbsp;&nbsp;&nbsp; 6.25%, 01/31/2034<sup>(b)</sup> <br>|  | 164000 | &nbsp;&nbsp; 165944 |
| &nbsp;&nbsp;&nbsp; 6.13%, 07/31/2034<sup>(b)</sup> <br>|  | 168000 | &nbsp;&nbsp; 165445 |
|  |  |  | &nbsp;&nbsp; 450455 |
| **Alternative Carriers–0.30%** | **Alternative Carriers–0.30%** | **Alternative Carriers–0.30%** | **Alternative Carriers–0.30%** |
| &nbsp;&nbsp;&nbsp; APLD ComputeCo 2 LLC, 6.75%, <br> 03/15/2031<sup>(b)</sup> <br>|  | 84000 | &nbsp;&nbsp; 83440 |
| Lumen Technologies, Inc., | Lumen Technologies, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 01/15/2029<sup>(b)</sup> <br>|  | 5000 | &nbsp;&nbsp; 4710 |
| &nbsp;&nbsp;&nbsp; 5.38%, 06/15/2029<sup>(b)</sup> <br>|  | 4000 | &nbsp;&nbsp; 3793 |
| &nbsp;&nbsp;&nbsp; Series P, 7.60%, 09/15/2039 |  | 5000 | &nbsp;&nbsp; 4669 |
| &nbsp;&nbsp;&nbsp; Series U, 7.65%, 03/15/2042 |  | 4000 | &nbsp;&nbsp; 3675 |
|  |  |  | &nbsp;&nbsp; 100287 |
| **Apparel Retail–0.00%** | **Apparel Retail–0.00%** | **Apparel Retail–0.00%** | **Apparel Retail–0.00%** |
| &nbsp;&nbsp;&nbsp; Saks Global Enterprises LLC, 11.00%, <br> 12/15/2029<sup>(b)(c)</sup> <br>|  | 66180 | &nbsp;&nbsp; 1241 |
| **Application Software–0.89%** | **Application Software–0.89%** | **Application Software–0.89%** | **Application Software–0.89%** |
| Cloud Software Group, Inc., | Cloud Software Group, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 9.00%, 09/30/2029<sup>(b)</sup> <br>|  | 176000 | &nbsp;&nbsp; 169950 |
| &nbsp;&nbsp;&nbsp; 8.25%, 06/30/2032<sup>(b)</sup> <br>|  | 37000 | &nbsp;&nbsp; 35122 |
| &nbsp;&nbsp;&nbsp; SS&C Technologies, Inc., 5.50%, <br> 09/30/2027<sup>(b)</sup> <br>|  | 92000 | &nbsp;&nbsp; 92131 |
|  |  |  | &nbsp;&nbsp; 297203 |
| **Asset Management & Custody Banks–0.62%** | **Asset Management & Custody Banks–0.62%** | **Asset Management & Custody Banks–0.62%** | **Asset Management & Custody Banks–0.62%** |
| &nbsp;&nbsp;&nbsp; FS KKR Capital Corp., 6.13%, <br> 01/15/2030<br>|  | 73000 | &nbsp;&nbsp; 69534 |
| Osaic Holdings, Inc., | Osaic Holdings, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 08/01/2032<sup>(b)</sup> <br>|  | 69000 | &nbsp;&nbsp; 69060 |
| &nbsp;&nbsp;&nbsp; 8.00%, 08/01/2033<sup>(b)</sup> <br>|  | 69000 | &nbsp;&nbsp; 68173 |
|  |  |  | &nbsp;&nbsp; 206767 |
| **Automobile Manufacturers–0.65%** | **Automobile Manufacturers–0.65%** | **Automobile Manufacturers–0.65%** | **Automobile Manufacturers–0.65%** |
| Allison Transmission, Inc., | Allison Transmission, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 3.75%, 01/30/2031<sup>(b)</sup> <br>|  | 157000 | &nbsp;&nbsp; 146247 |
| &nbsp;&nbsp;&nbsp; 5.88%, 12/01/2033<sup>(b)</sup> <br>|  | 71000 | &nbsp;&nbsp; 70604 |
|  |  |  | &nbsp;&nbsp; 216851 |
| **Automotive Parts & Equipment–1.89%** | **Automotive Parts & Equipment–1.89%** | **Automotive Parts & Equipment–1.89%** | **Automotive Parts & Equipment–1.89%** |
| &nbsp;&nbsp;&nbsp; American Axle & Manufacturing, Inc., <br> 7.75%, 10/15/2033<sup>(b)</sup> <br>|  | 162000 | &nbsp;&nbsp; 157806 |
| &nbsp;&nbsp;&nbsp; Cougar JV Subsidiary LLC, 8.00%, <br> 05/15/2032<sup>(b)</sup> <br>|  | 90000 | &nbsp;&nbsp; 93125 |
| &nbsp;&nbsp;&nbsp; Forvia SE (France), 8.00%, <br> 06/15/2030<sup>(b)</sup> <br>|  | 122000 | &nbsp;&nbsp; 126119 |
| &nbsp;&nbsp;&nbsp; NESCO Holdings II, Inc., 5.50%, <br> 04/15/2029<sup>(b)</sup> <br>|  | 95000 | &nbsp;&nbsp; 92996 |
| Phinia, Inc., 6.63%, 10/15/2032<sup>(b)</sup> <br>|  | 157000 | &nbsp;&nbsp; 159912 |
|  |  |  | &nbsp;&nbsp; 629958 |
| **Automotive Retail–2.35%** | **Automotive Retail–2.35%** | **Automotive Retail–2.35%** | **Automotive Retail–2.35%** |
| &nbsp;&nbsp;&nbsp; Advance Auto Parts, Inc., 7.00%, <br> 08/01/2030<sup>(b)</sup> <br>|  | 171000 | &nbsp;&nbsp; 173345 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Automotive Retail–(continued)** | **Automotive Retail–(continued)** | **Automotive Retail–(continued)** | **Automotive Retail–(continued)** |
| &nbsp;&nbsp;&nbsp; Carvana Co., 0.00% PIK Rate, 9.00% Cash <br> Rate, 06/01/2031<sup>(b)(d)</sup> <br>|  | $148422 | &nbsp;&nbsp; $160593 |
| &nbsp;&nbsp;&nbsp; Group 1 Automotive, Inc., 6.38%, <br> 01/15/2030<sup>(b)</sup> <br>|  | 164000 | &nbsp;&nbsp; 165209 |
| &nbsp;&nbsp;&nbsp; LCM Investments Holdings II LLC, 8.25%, <br> 08/01/2031<sup>(b)</sup> <br>|  | 132000 | &nbsp;&nbsp; 137513 |
| &nbsp;&nbsp;&nbsp; Lithia Motors, Inc., 4.38%, <br> 01/15/2031<sup>(b)</sup> <br>|  | 156000 | &nbsp;&nbsp; 146718 |
|  |  |  | &nbsp;&nbsp; 783378 |
| **Broadcasting–0.86%** | **Broadcasting–0.86%** | **Broadcasting–0.86%** | **Broadcasting–0.86%** |
| &nbsp;&nbsp;&nbsp; E.W. Scripps Co. (The), 9.88%, <br> 08/15/2030<sup>(b)</sup> <br>|  | 15000 | &nbsp;&nbsp; 14576 |
| Gray Media, Inc., | Gray Media, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 11/15/2031<sup>(b)</sup> <br>|  | 17000 | &nbsp;&nbsp; 12637 |
| &nbsp;&nbsp;&nbsp; 9.63%, 07/15/2032<sup>(b)</sup> <br>|  | 32000 | &nbsp;&nbsp; 32028 |
| Nexstar Media, Inc., | Nexstar Media, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 09/15/2033<sup>(b)</sup> <br>|  | 85000 | &nbsp;&nbsp; 85699 |
| &nbsp;&nbsp;&nbsp; 7.25%, 04/15/2034<sup>(b)</sup> <br>|  | 51000 | &nbsp;&nbsp; 51206 |
| Univision Communications, Inc., | Univision Communications, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 08/15/2028<sup>(b)</sup> <br>|  | 51000 | &nbsp;&nbsp; 51793 |
| &nbsp;&nbsp;&nbsp; 9.38%, 08/01/2032<sup>(b)</sup> <br>|  | 38000 | &nbsp;&nbsp; 39191 |
|  |  |  | &nbsp;&nbsp; 287130 |
| **Building Products–0.29%** | **Building Products–0.29%** | **Building Products–0.29%** | **Building Products–0.29%** |
| &nbsp;&nbsp;&nbsp; JELD-WEN Holding, Inc., 7.00%, <br> 09/01/2032<sup>(b)</sup> <br>|  | 10000 | &nbsp;&nbsp; 4712 |
| JELD-WEN, Inc., 4.88%, 12/15/2027<sup>(b)</sup> <br>|  | 6000 | &nbsp;&nbsp; 4077 |
| &nbsp;&nbsp;&nbsp; New Enterprise Stone & Lime Co., Inc., <br> 5.25%, 07/15/2028<sup>(b)</sup> <br>|  | 90000 | &nbsp;&nbsp; 88738 |
|  |  |  | &nbsp;&nbsp; 97527 |
| **Cable & Satellite–6.89%** | **Cable & Satellite–6.89%** | **Cable & Satellite–6.89%** | **Cable & Satellite–6.89%** |
| CCO Holdings LLC/CCO Holdings Capital Corp., | CCO Holdings LLC/CCO Holdings Capital Corp., |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 06/01/2029<sup>(b)</sup> <br>|  | 338000 | &nbsp;&nbsp; 333563 |
| &nbsp;&nbsp;&nbsp; 6.38%, 09/01/2029<sup>(b)</sup> <br>|  | 146000 | &nbsp;&nbsp; 146542 |
| &nbsp;&nbsp;&nbsp; 4.75%, 03/01/2030<sup>(b)</sup> <br>|  | 175000 | &nbsp;&nbsp; 166163 |
| &nbsp;&nbsp;&nbsp; 4.75%, 02/01/2032<sup>(b)</sup> <br>|  | 117000 | &nbsp;&nbsp; 105881 |
| &nbsp;&nbsp;&nbsp; 4.50%, 05/01/2032 |  | 80000 | &nbsp;&nbsp; 71535 |
| &nbsp;&nbsp;&nbsp; 4.50%, 06/01/2033<sup>(b)</sup> <br>|  | 182000 | &nbsp;&nbsp; 158583 |
| CSC Holdings LLC, 4.50%, 11/15/2031<sup>(b)</sup> <br>|  | 370000 | &nbsp;&nbsp; 219927 |
| &nbsp;&nbsp;&nbsp; Directv Financing LLC, 8.88%, <br> 02/01/2030<sup>(b)</sup> <br>|  | 94000 | &nbsp;&nbsp; 93908 |
| &nbsp;&nbsp;&nbsp; Directv Financing LLC/Directv Financing <br> Co-Obligor, Inc., 10.00%, <br> 02/15/2031<sup>(b)</sup> <br>|  | 92000 | &nbsp;&nbsp; 93989 |
| DISH DBS Corp., | DISH DBS Corp., |  |  |
| &nbsp;&nbsp;&nbsp; 7.38%, 07/01/2028 |  | 100000 | &nbsp;&nbsp; 97120 |
| &nbsp;&nbsp;&nbsp; 5.13%, 06/01/2029 |  | 118000 | &nbsp;&nbsp; 105581 |
| &nbsp;&nbsp;&nbsp; DISH Network Corp., 11.75%, <br> 11/15/2027<sup>(b)</sup> <br>|  | 51000 | &nbsp;&nbsp; 52570 |
| EchoStar Corp., | EchoStar Corp., |  |  |
| &nbsp;&nbsp;&nbsp; 10.75%, 11/30/2029 |  | 50000 | &nbsp;&nbsp; 54043 |
| &nbsp;&nbsp;&nbsp; 6.75% PIK Rate, 2.00% Cash Rate, <br> 11/30/2030<sup>(d)</sup> <br>|  | 280961 | &nbsp;&nbsp; 284054 |
| &nbsp;&nbsp;&nbsp; iHeartCommunications, Inc., 9.13%, <br> 05/01/2029<sup>(b)</sup> <br>|  | 53000 | &nbsp;&nbsp; 48183 |

---

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

**Invesco V.I. High Yield Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Cable & Satellite–(continued)** | **Cable & Satellite–(continued)** | **Cable & Satellite–(continued)** | **Cable & Satellite–(continued)** |
| Sinclair Television Group, Inc., | Sinclair Television Group, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 03/01/2030<sup>(b)</sup> <br>|  | $7000 | &nbsp;&nbsp; $6073 |
| &nbsp;&nbsp;&nbsp; 8.13%, 02/15/2033<sup>(b)</sup> <br>|  | 15000 | &nbsp;&nbsp; 15262 |
| &nbsp;&nbsp;&nbsp; Versant Media Group, Inc., 7.25%, <br> 01/30/2031<sup>(b)(e)</sup> <br>|  | 240000 | &nbsp;&nbsp; 245813 |
|  |  |  | &nbsp;&nbsp; 2298790 |
| **Casinos & Gaming–1.17%** | **Casinos & Gaming–1.17%** | **Casinos & Gaming–1.17%** | **Casinos & Gaming–1.17%** |
| &nbsp;&nbsp;&nbsp; Melco Resorts Finance Ltd. (Hong Kong), <br> 6.50%, 09/24/2033<sup>(b)</sup> <br>|  | 127000 | &nbsp;&nbsp; 122007 |
| Studio City Finance Ltd. (Macau), | Studio City Finance Ltd. (Macau), |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 01/15/2028<sup>(b)</sup> <br>|  | 39000 | &nbsp;&nbsp; 38588 |
| &nbsp;&nbsp;&nbsp; 5.00%, 01/15/2029<sup>(b)</sup> <br>|  | 148000 | &nbsp;&nbsp; 138909 |
| &nbsp;&nbsp;&nbsp; Voyager Parent LLC, 9.25%, <br> 07/01/2032<sup>(b)</sup> <br>|  | 87000 | &nbsp;&nbsp; 90379 |
|  |  |  | &nbsp;&nbsp; 389883 |
| **Commercial & Residential Mortgage Finance–1.17%** | **Commercial & Residential Mortgage Finance–1.17%** | **Commercial & Residential Mortgage Finance–1.17%** | **Commercial & Residential Mortgage Finance–1.17%** |
| &nbsp;&nbsp;&nbsp; Nationstar Mortgage Holdings, Inc., <br> 7.13%, 02/01/2032<sup>(b)</sup> <br>|  | 165000 | &nbsp;&nbsp; 167475 |
| &nbsp;&nbsp;&nbsp; PennyMac Financial Services, Inc., 4.25%, <br> 02/15/2029<sup>(b)</sup> <br>|  | 50000 | &nbsp;&nbsp; 47421 |
| Rocket Cos., Inc., 6.13%, 08/01/2030<sup>(b)</sup> <br>|  | 90000 | &nbsp;&nbsp; 90886 |
| &nbsp;&nbsp;&nbsp; Walker & Dunlop, Inc., 6.63%, <br> 04/01/2033<sup>(b)</sup> <br>|  | 86000 | &nbsp;&nbsp; 84150 |
|  |  |  | &nbsp;&nbsp; 389932 |
| **Commodity Chemicals–0.33%** | **Commodity Chemicals–0.33%** | **Commodity Chemicals–0.33%** | **Commodity Chemicals–0.33%** |
| &nbsp;&nbsp;&nbsp; Cerdia Finanz GmbH (Germany), 9.38%, <br> 10/03/2031<sup>(b)</sup> <br>|  | 112000 | &nbsp;&nbsp; 111499 |
| **Construction & Engineering–0.55%** | **Construction & Engineering–0.55%** | **Construction & Engineering–0.55%** | **Construction & Engineering–0.55%** |
| AECOM, 6.00%, 08/01/2033<sup>(b)</sup> <br>|  | 91000 | &nbsp;&nbsp; 90984 |
| &nbsp;&nbsp;&nbsp; Great Lakes Dredge & Dock Corp., 5.25%, <br> 06/01/2029<sup>(b)</sup> <br>|  | 91000 | &nbsp;&nbsp; 91393 |
|  |  |  | &nbsp;&nbsp; 182377 |
| **Consumer Finance–3.26%** | **Consumer Finance–3.26%** | **Consumer Finance–3.26%** | **Consumer Finance–3.26%** |
| &nbsp;&nbsp;&nbsp; Bread Financial Holdings, Inc., 8.38%, <br> 06/15/2035<sup>(b)(f)</sup> <br>|  | 77000 | &nbsp;&nbsp; 77909 |
| EZCORP, Inc., 7.38%, 04/01/2032<sup>(b)</sup> <br>|  | 321000 | &nbsp;&nbsp; 336124 |
| FirstCash, Inc., 6.88%, 03/01/2032<sup>(b)</sup> <br>|  | 158000 | &nbsp;&nbsp; 161234 |
| Navient Corp., | Navient Corp., |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 03/15/2028 |  | 37000 | &nbsp;&nbsp; 34950 |
| &nbsp;&nbsp;&nbsp; 5.50%, 03/15/2029 |  | 88000 | &nbsp;&nbsp; 80745 |
| &nbsp;&nbsp;&nbsp; 9.38%, 07/25/2030 |  | 23000 | &nbsp;&nbsp; 22442 |
| &nbsp;&nbsp;&nbsp; 7.88%, 06/15/2032 |  | 111000 | &nbsp;&nbsp; 99101 |
| OneMain Finance Corp., | OneMain Finance Corp., |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 05/15/2029 |  | 77000 | &nbsp;&nbsp; 77171 |
| &nbsp;&nbsp;&nbsp; 4.00%, 09/15/2030 |  | 1000 | &nbsp;&nbsp; 904 |
| &nbsp;&nbsp;&nbsp; 7.13%, 11/15/2031 |  | 142000 | &nbsp;&nbsp; 140817 |
| &nbsp;&nbsp;&nbsp; 7.13%, 09/15/2032 |  | 56000 | &nbsp;&nbsp; 55222 |
|  |  |  | &nbsp;&nbsp; 1086619 |
| **Copper–0.36%** | **Copper–0.36%** | **Copper–0.36%** | **Copper–0.36%** |
| First Quantum Minerals Ltd. (Zambia), | First Quantum Minerals Ltd. (Zambia), |  |  |
| &nbsp;&nbsp;&nbsp; 8.63%, 06/01/2031<sup>(b)</sup> <br>|  | 59000 | &nbsp;&nbsp; 61248 |
| &nbsp;&nbsp;&nbsp; 8.00%, 03/01/2033<sup>(b)</sup> <br>|  | 55000 | &nbsp;&nbsp; 57398 |
|  |  |  | &nbsp;&nbsp; 118646 |
| **Diversified Banks–0.99%** | **Diversified Banks–0.99%** | **Diversified Banks–0.99%** | **Diversified Banks–0.99%** |
| &nbsp;&nbsp;&nbsp; Brundage-Bone Concrete Pumping <br> Holdings, Inc., 7.50%, 02/01/2032<sup>(b)</sup> <br>|  | 160000 | &nbsp;&nbsp; 161815 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Diversified Banks–(continued)** | **Diversified Banks–(continued)** | **Diversified Banks–(continued)** | **Diversified Banks–(continued)** |
| Citigroup, Inc., 6.63%<sup>(f)(g)</sup> <br>|  | $169000 | &nbsp;&nbsp; $169242 |
|  |  |  | &nbsp;&nbsp; 331057 |
| **Diversified Financial Services–4.08%** | **Diversified Financial Services–4.08%** | **Diversified Financial Services–4.08%** | **Diversified Financial Services–4.08%** |
| &nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC/AerCap Global <br> Aviation Trust (Ireland), 6.95%, <br> 03/10/2055<sup>(f)</sup> <br>|  | 170000 | &nbsp;&nbsp; 174086 |
| &nbsp;&nbsp;&nbsp; Azorra Finance Ltd., 6.25%, <br> 02/15/2034<sup>(b)</sup> <br>|  | 87000 | &nbsp;&nbsp; 80961 |
| &nbsp;&nbsp;&nbsp; Freedom Mortgage Holdings LLC, 8.38%, <br> 04/01/2032<sup>(b)</sup> <br>|  | 37000 | &nbsp;&nbsp; 36435 |
| &nbsp;&nbsp;&nbsp; GGAM Finance Ltd. (Ireland), 5.88%, <br> 03/15/2030<sup>(b)</sup> <br>|  | 240000 | &nbsp;&nbsp; 239723 |
| &nbsp;&nbsp;&nbsp; Global Aircraft Leasing Co. Ltd. (Cayman <br> Islands), 8.75%, 09/01/2027<sup>(b)</sup> <br>|  | 236000 | &nbsp;&nbsp; 239726 |
| Jane Street Group/JSG Finance, Inc., | Jane Street Group/JSG Finance, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 11/15/2029<sup>(b)</sup> <br>|  | 96000 | &nbsp;&nbsp; 93109 |
| &nbsp;&nbsp;&nbsp; 6.13%, 11/01/2032<sup>(b)</sup> <br>|  | 130000 | &nbsp;&nbsp; 128668 |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/01/2033<sup>(b)</sup> <br>|  | 117000 | &nbsp;&nbsp; 118788 |
| &nbsp;&nbsp;&nbsp; Phoenix Aviation Capital Ltd. (Ireland), <br> 9.25%, 07/15/2030<sup>(b)</sup> <br>|  | 38000 | &nbsp;&nbsp; 38280 |
| &nbsp;&nbsp;&nbsp; Provident Funding Associates L.P./PFG <br> Finance Corp., 9.75%, 09/15/2029<sup>(b)</sup> <br>|  | 205000 | &nbsp;&nbsp; 210655 |
|  |  |  | &nbsp;&nbsp; 1360431 |
| **Diversified Real Estate Activities–0.51%** | **Diversified Real Estate Activities–0.51%** | **Diversified Real Estate Activities–0.51%** | **Diversified Real Estate Activities–0.51%** |
| &nbsp;&nbsp;&nbsp; Velocity Commercial Capital LLC, 9.38%, <br> 02/15/2031<sup>(b)</sup> <br>|  | 170000 | &nbsp;&nbsp; 170089 |
| **Diversified REITs–0.79%** | **Diversified REITs–0.79%** | **Diversified REITs–0.79%** | **Diversified REITs–0.79%** |
| &nbsp;&nbsp;&nbsp; Iron Mountain Information Management <br> Services, Inc., 5.00%, 07/15/2032<sup>(b)</sup> <br>|  | 178000 | &nbsp;&nbsp; 168164 |
| &nbsp;&nbsp;&nbsp; Uniti Group L.P./Uniti Group Finance 2019, <br> Inc./CSL Capital LLC, 8.63%, <br> 06/15/2032<sup>(b)</sup> <br>|  | 95000 | &nbsp;&nbsp; 96824 |
|  |  |  | &nbsp;&nbsp; 264988 |
| **Diversified Support Services–0.14%** | **Diversified Support Services–0.14%** | **Diversified Support Services–0.14%** | **Diversified Support Services–0.14%** |
| Sabre GLBL, Inc., | Sabre GLBL, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 10.75%, 11/15/2029<sup>(b)</sup> <br>|  | 18000 | &nbsp;&nbsp; 15390 |
| &nbsp;&nbsp;&nbsp; 10.75%, 03/15/2030<sup>(b)</sup> <br>|  | 19000 | &nbsp;&nbsp; 16070 |
| &nbsp;&nbsp;&nbsp; 11.13%, 07/15/2030<sup>(b)</sup> <br>|  | 19000 | &nbsp;&nbsp; 16150 |
|  |  |  | &nbsp;&nbsp; 47610 |
| **Electric Utilities–1.88%** | **Electric Utilities–1.88%** | **Electric Utilities–1.88%** | **Electric Utilities–1.88%** |
| &nbsp;&nbsp;&nbsp; California Buyer Ltd./Atlantica Sustainable <br> Infrastructure PLC (United Kingdom), <br> 6.38%, 02/15/2032<sup>(b)</sup> <br>|  | 419000 | &nbsp;&nbsp; 409646 |
| &nbsp;&nbsp;&nbsp; Hawaiian Electric Co., Inc., 6.00%, <br> 10/01/2033<sup>(b)</sup> <br>|  | 218000 | &nbsp;&nbsp; 217868 |
|  |  |  | &nbsp;&nbsp; 627514 |
| **Electrical Components & Equipment–0.44%** | **Electrical Components & Equipment–0.44%** | **Electrical Components & Equipment–0.44%** | **Electrical Components & Equipment–0.44%** |
| EnerSys, 6.63%, 01/15/2032<sup>(b)</sup> <br>|  | 144000 | &nbsp;&nbsp; 147303 |
| **Electronic Components–0.34%** | **Electronic Components–0.34%** | **Electronic Components–0.34%** | **Electronic Components–0.34%** |
| Sensata Technologies, Inc., | Sensata Technologies, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 3.75%, 02/15/2031<sup>(b)</sup> <br>|  | 44000 | &nbsp;&nbsp; 40843 |
| &nbsp;&nbsp;&nbsp; 6.63%, 07/15/2032<sup>(b)</sup> <br>|  | 72000 | &nbsp;&nbsp; 73491 |
|  |  |  | &nbsp;&nbsp; 114334 |
| **Electronic Manufacturing Services–0.30%** | **Electronic Manufacturing Services–0.30%** | **Electronic Manufacturing Services–0.30%** | **Electronic Manufacturing Services–0.30%** |
| &nbsp;&nbsp;&nbsp; EMRLD Borrower L.P./Emerald Co-Issuer, <br> Inc., 6.75%, 07/15/2031<sup>(b)</sup> <br>|  | 96000 | &nbsp;&nbsp; 98805 |

---

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

**Invesco V.I. High Yield Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Environmental & Facilities Services–0.63%** | **Environmental & Facilities Services–0.63%** | **Environmental & Facilities Services–0.63%** | **Environmental & Facilities Services–0.63%** |
| &nbsp;&nbsp;&nbsp; GFL Environmental Holdings (US), Inc., <br> 5.50%, 02/01/2034<sup>(b)</sup> <br>|  | $115000 | &nbsp;&nbsp; $112935 |
| &nbsp;&nbsp;&nbsp; Wrangler Holdco Corp. (Canada), 6.63%, <br> 04/01/2032<sup>(b)</sup> <br>|  | 96000 | &nbsp;&nbsp; 98916 |
|  |  |  | &nbsp;&nbsp; 211851 |
| **Fertilizers & Agricultural Chemicals–0.27%** | **Fertilizers & Agricultural Chemicals–0.27%** | **Fertilizers & Agricultural Chemicals–0.27%** | **Fertilizers & Agricultural Chemicals–0.27%** |
| FMC Corp., | FMC Corp., |  |  |
| &nbsp;&nbsp;&nbsp; 3.45%, 10/01/2029 |  | 40000 | &nbsp;&nbsp; 35768 |
| &nbsp;&nbsp;&nbsp; 5.65%, 05/18/2033 |  | 40000 | &nbsp;&nbsp; 35436 |
| &nbsp;&nbsp;&nbsp; 6.38%, 05/18/2053 |  | 23000 | &nbsp;&nbsp; 17358 |
|  |  |  | &nbsp;&nbsp; 88562 |
| **Gold–1.01%** | **Gold–1.01%** | **Gold–1.01%** | **Gold–1.01%** |
| &nbsp;&nbsp;&nbsp; New Gold, Inc. (Canada), 6.88%, <br> 04/01/2032<sup>(b)</sup> <br>|  | 325000 | &nbsp;&nbsp; 336157 |
| **Health Care Facilities–0.26%** | **Health Care Facilities–0.26%** | **Health Care Facilities–0.26%** | **Health Care Facilities–0.26%** |
| &nbsp;&nbsp;&nbsp; Acadia Healthcare Co., Inc., 7.38%, <br> 03/15/2033<sup>(b)</sup> <br>|  | 85000 | &nbsp;&nbsp; 87131 |
| **Health Care REITs–0.54%** | **Health Care REITs–0.54%** | **Health Care REITs–0.54%** | **Health Care REITs–0.54%** |
| Diversified Healthcare Trust, | Diversified Healthcare Trust, |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 10/15/2030<sup>(b)</sup> <br>|  | 138000 | &nbsp;&nbsp; 139358 |
| &nbsp;&nbsp;&nbsp; 4.38%, 03/01/2031 |  | 24000 | &nbsp;&nbsp; 21353 |
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership L.P./MPT Finance <br> Corp., | &nbsp;&nbsp;&nbsp; MPT Operating Partnership L.P./MPT Finance <br> Corp., |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 08/01/2029 |  | 13000 | &nbsp;&nbsp; 10124 |
| &nbsp;&nbsp;&nbsp; 3.50%, 03/15/2031 |  | 16000 | &nbsp;&nbsp; 10472 |
|  |  |  | &nbsp;&nbsp; 181307 |
| **Health Care Services–1.16%** | **Health Care Services–1.16%** | **Health Care Services–1.16%** | **Health Care Services–1.16%** |
| Community Health Systems, Inc., | Community Health Systems, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 05/15/2030<sup>(b)</sup> <br>|  | 120000 | &nbsp;&nbsp; 113175 |
| &nbsp;&nbsp;&nbsp; 4.75%, 02/15/2031<sup>(b)</sup> <br>|  | 130000 | &nbsp;&nbsp; 119921 |
| DaVita, Inc., | DaVita, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 09/01/2032<sup>(b)</sup> <br>|  | 43000 | &nbsp;&nbsp; 44088 |
| &nbsp;&nbsp;&nbsp; 6.75%, 07/15/2033<sup>(b)</sup> <br>|  | 45000 | &nbsp;&nbsp; 45815 |
| &nbsp;&nbsp;&nbsp; MPH Acquisition Holdings LLC, 5.00% PIK <br> Rate, 6.50% Cash Rate, <br> 12/31/2030<sup>(b)(d)</sup> <br>|  | 70172 | &nbsp;&nbsp; 63501 |
|  |  |  | &nbsp;&nbsp; 386500 |
| **Home Improvement Retail–0.02%** | **Home Improvement Retail–0.02%** | **Home Improvement Retail–0.02%** | **Home Improvement Retail–0.02%** |
| &nbsp;&nbsp;&nbsp; LBM Acquisition LLC, 6.25%, <br> 01/15/2029<sup>(b)</sup> <br>|  | 11000 | &nbsp;&nbsp; 8052 |
| **Hotels, Resorts & Cruise Lines–0.51%** | **Hotels, Resorts & Cruise Lines–0.51%** | **Hotels, Resorts & Cruise Lines–0.51%** | **Hotels, Resorts & Cruise Lines–0.51%** |
| &nbsp;&nbsp;&nbsp; Marriott Ownership Resorts, Inc., 6.50%, <br> 10/01/2033<sup>(b)</sup> <br>|  | 180000 | &nbsp;&nbsp; 171318 |
| **Housewares & Specialties–0.48%** | **Housewares & Specialties–0.48%** | **Housewares & Specialties–0.48%** | **Housewares & Specialties–0.48%** |
| Newell Brands, Inc., | Newell Brands, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 09/15/2029 |  | 102000 | &nbsp;&nbsp; 99659 |
| &nbsp;&nbsp;&nbsp; 6.38%, 05/15/2030<sup>(e)</sup> <br>|  | 63000 | &nbsp;&nbsp; 60525 |
|  |  |  | &nbsp;&nbsp; 160184 |
| **Independent Power Producers & Energy Traders–1.77%** | **Independent Power Producers & Energy Traders–1.77%** | **Independent Power Producers & Energy Traders–1.77%** | **Independent Power Producers & Energy Traders–1.77%** |
| Vistra Corp., | Vistra Corp., |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%<sup>(b)(f)(g)</sup> <br>|  | 46000 | &nbsp;&nbsp; 46516 |
| &nbsp;&nbsp;&nbsp; Series C, 8.88%<sup>(b)(f)(g)</sup> <br>|  | 190000 | &nbsp;&nbsp; 204959 |
| VoltaGrid LLC, 7.38%, 11/01/2030<sup>(b)</sup> <br>|  | 329000 | &nbsp;&nbsp; 339945 |
|  |  |  | &nbsp;&nbsp; 591420 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Industrial Machinery & Supplies & Components–1.89%** | **Industrial Machinery & Supplies & Components–1.89%** | **Industrial Machinery & Supplies & Components–1.89%** | **Industrial Machinery & Supplies & Components–1.89%** |
| Enpro, Inc., 6.13%, 06/01/2033<sup>(b)</sup> <br>|  | $150000 | &nbsp;&nbsp; $152095 |
| ESAB Corp., | ESAB Corp., |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 04/15/2029<sup>(b)</sup> <br>|  | 138000 | &nbsp;&nbsp; 140228 |
| &nbsp;&nbsp;&nbsp; 5.63%, 04/01/2031<sup>(b)</sup> <br>|  | 192000 | &nbsp;&nbsp; 193826 |
| &nbsp;&nbsp;&nbsp; Roller Bearing Co. of America, Inc., <br> 4.38%, 10/15/2029<sup>(b)</sup> <br>|  | 147000 | &nbsp;&nbsp; 143007 |
|  |  |  | &nbsp;&nbsp; 629156 |
| **Insurance Brokers–1.46%** | **Insurance Brokers–1.46%** | **Insurance Brokers–1.46%** | **Insurance Brokers–1.46%** |
| &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC/Alliant <br> Holdings Co-Issuer, 7.00%, <br> 01/15/2031<sup>(b)</sup> <br>|  | 90000 | &nbsp;&nbsp; 90812 |
| &nbsp;&nbsp;&nbsp; Howden UK Refinance PLC/Howden UK <br> Refinance 2 PLC/Howden US <br> Refinance LLC (United Kingdom), <br> 8.13%, 02/15/2032<sup>(b)</sup> <br>|  | 200000 | &nbsp;&nbsp; 187573 |
| &nbsp;&nbsp;&nbsp; HUB International Ltd., 7.25%, <br> 06/15/2030<sup>(b)</sup> <br>|  | 160000 | &nbsp;&nbsp; 163997 |
| USI, Inc., 7.50%, 01/15/2032<sup>(b)</sup> <br>|  | 43000 | &nbsp;&nbsp; 43619 |
|  |  |  | &nbsp;&nbsp; 486001 |
| **Integrated Oil & Gas–0.51%** | **Integrated Oil & Gas–0.51%** | **Integrated Oil & Gas–0.51%** | **Integrated Oil & Gas–0.51%** |
| Petroleos Mexicanos (Mexico), | Petroleos Mexicanos (Mexico), |  |  |
| &nbsp;&nbsp;&nbsp; 5.95%, 01/28/2031 |  | 131000 | &nbsp;&nbsp; 125347 |
| &nbsp;&nbsp;&nbsp; 6.63%, 06/15/2035 |  | 49000 | &nbsp;&nbsp; 45703 |
|  |  |  | &nbsp;&nbsp; 171050 |
| **Integrated Telecommunication Services–6.91%** | **Integrated Telecommunication Services–6.91%** | **Integrated Telecommunication Services–6.91%** | **Integrated Telecommunication Services–6.91%** |
| &nbsp;&nbsp;&nbsp; Altice France Lux 3/Altice Holdings 1 <br> (Luxembourg), 10.00%, <br> 01/15/2033<sup>(b)</sup> <br>|  | 106000 | &nbsp;&nbsp; 96459 |
| &nbsp;&nbsp;&nbsp; Altice France S.A. (France), 6.88%, <br> 07/15/2032<sup>(b)</sup> <br>|  | 220842 | &nbsp;&nbsp; 209454 |
| &nbsp;&nbsp;&nbsp; APLD ComputeCo LLC, 9.25%, <br> 12/15/2030<sup>(b)</sup> <br>|  | 78000 | &nbsp;&nbsp; 80434 |
| &nbsp;&nbsp;&nbsp; Cipher Compute LLC, 7.13%, <br> 11/15/2030<sup>(b)</sup> <br>|  | 142000 | &nbsp;&nbsp; 147294 |
| FiberCop S.p.A. (Italy), | FiberCop S.p.A. (Italy), |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 09/30/2034<sup>(b)</sup> <br>|  | 259000 | &nbsp;&nbsp; 247031 |
| &nbsp;&nbsp;&nbsp; 7.20%, 07/18/2036<sup>(b)</sup> <br>|  | 63000 | &nbsp;&nbsp; 62702 |
| &nbsp;&nbsp;&nbsp; Flash Compute LLC, 7.25%, <br> 12/31/2030<sup>(b)</sup> <br>|  | 81000 | &nbsp;&nbsp; 81651 |
| Iliad Holding S.A.S. (France), | Iliad Holding S.A.S. (France), |  |  |
| &nbsp;&nbsp;&nbsp; 8.50%, 04/15/2031<sup>(b)</sup> <br>|  | 179000 | &nbsp;&nbsp; 187440 |
| &nbsp;&nbsp;&nbsp; 7.00%, 04/15/2032<sup>(b)</sup> <br>|  | 253000 | &nbsp;&nbsp; 253619 |
| Level 3 Financing, Inc., | Level 3 Financing, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 01/15/2029<sup>(b)</sup> <br>|  | 6000 | &nbsp;&nbsp; 5640 |
| &nbsp;&nbsp;&nbsp; 3.75%, 07/15/2029<sup>(b)</sup> <br>|  | 10000 | &nbsp;&nbsp; 9312 |
| &nbsp;&nbsp;&nbsp; 6.88%, 06/30/2033<sup>(b)</sup> <br>|  | 139000 | &nbsp;&nbsp; 141656 |
| &nbsp;&nbsp;&nbsp; 7.00%, 03/31/2034<sup>(b)</sup> <br>|  | 123667 | &nbsp;&nbsp; 126677 |
| &nbsp;&nbsp;&nbsp; 8.50%, 01/15/2036<sup>(b)</sup> <br>|  | 62000 | &nbsp;&nbsp; 64750 |
| &nbsp;&nbsp;&nbsp; SV RNO Property Owner 1 LLC, 5.88%, <br> 03/01/2031<sup>(b)</sup> <br>|  | 83000 | &nbsp;&nbsp; 82094 |
| Telecom Italia Capital S.A. (Italy), | Telecom Italia Capital S.A. (Italy), |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 11/15/2033 |  | 45000 | &nbsp;&nbsp; 47053 |
| &nbsp;&nbsp;&nbsp; 7.72%, 06/04/2038 |  | 40000 | &nbsp;&nbsp; 44596 |
| Uniti Services LLC, 7.50%, 10/15/2033<sup>(b)</sup> <br>|  | 322000 | &nbsp;&nbsp; 334998 |
| &nbsp;&nbsp;&nbsp; WULF Compute LLC, 7.75%, <br> 10/15/2030<sup>(b)</sup> <br>|  | 78000 | &nbsp;&nbsp; 82471 |
|  |  |  | &nbsp;&nbsp; 2305331 |

---

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

**Invesco V.I. High Yield Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Interactive Media & Services–0.86%** | **Interactive Media & Services–0.86%** | **Interactive Media & Services–0.86%** | **Interactive Media & Services–0.86%** |
| Discovery Global Holdings, Inc., | Discovery Global Holdings, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 5.05%, 03/15/2042 |  | $159000 | &nbsp;&nbsp; $105148 |
| &nbsp;&nbsp;&nbsp; 5.14%, 03/15/2052 |  | 39000 | &nbsp;&nbsp; 23741 |
| &nbsp;&nbsp;&nbsp; Getty Images, Inc., 10.50%, <br> 11/15/2030<sup>(b)</sup> <br>|  | 176000 | &nbsp;&nbsp; 158009 |
|  |  |  | &nbsp;&nbsp; 286898 |
| **Internet Services & Infrastructure–0.70%** | **Internet Services & Infrastructure–0.70%** | **Internet Services & Infrastructure–0.70%** | **Internet Services & Infrastructure–0.70%** |
| &nbsp;&nbsp;&nbsp; Beignet Investor LLC, 6.58%, <br> 05/30/2049<sup>(b)</sup> <br>|  | 147000 | &nbsp;&nbsp; 151253 |
| CoreWeave, Inc., | CoreWeave, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 9.25%, 06/01/2030<sup>(b)</sup> <br>|  | 45000 | &nbsp;&nbsp; 43767 |
| &nbsp;&nbsp;&nbsp; 9.00%, 02/01/2031<sup>(b)</sup> <br>|  | 40000 | &nbsp;&nbsp; 38111 |
|  |  |  | &nbsp;&nbsp; 233131 |
| **Leisure Facilities–0.49%** | **Leisure Facilities–0.49%** | **Leisure Facilities–0.49%** | **Leisure Facilities–0.49%** |
| &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp., 7.25%, <br> 05/15/2031<sup>(b)</sup> <br>|  | 169000 | &nbsp;&nbsp; 162902 |
| **Leisure Products–0.47%** | **Leisure Products–0.47%** | **Leisure Products–0.47%** | **Leisure Products–0.47%** |
| &nbsp;&nbsp;&nbsp; Viking Cruises Ltd., 5.88%, <br> 10/15/2033<sup>(b)</sup> <br>|  | 160000 | &nbsp;&nbsp; 158084 |
| **Managed Health Care–0.15%** | **Managed Health Care–0.15%** | **Managed Health Care–0.15%** | **Managed Health Care–0.15%** |
| &nbsp;&nbsp;&nbsp; Molina Healthcare, Inc., 6.25%, <br> 01/15/2033<sup>(b)</sup> <br>|  | 50000 | &nbsp;&nbsp; 48511 |
| **Marine Transportation–0.38%** | **Marine Transportation–0.38%** | **Marine Transportation–0.38%** | **Marine Transportation–0.38%** |
| &nbsp;&nbsp;&nbsp; Danaos Corp. (Greece), 6.88%, <br> 10/15/2032<sup>(b)</sup> <br>|  | 124000 | &nbsp;&nbsp; 126102 |
| **Metal, Glass & Plastic Containers–0.47%** | **Metal, Glass & Plastic Containers–0.47%** | **Metal, Glass & Plastic Containers–0.47%** | **Metal, Glass & Plastic Containers–0.47%** |
| &nbsp;&nbsp;&nbsp; Owens-Brockway Glass Container, Inc., <br> 7.25%, 05/15/2031<sup>(b)</sup> <br>|  | 165000 | &nbsp;&nbsp; 158211 |
| **Movies & Entertainment–0.80%** | **Movies & Entertainment–0.80%** | **Movies & Entertainment–0.80%** | **Movies & Entertainment–0.80%** |
| &nbsp;&nbsp;&nbsp; Starz Capital Holdings 1, Inc., 6.00%, <br> 04/15/2030<sup>(b)</sup> <br>|  | 288000 | &nbsp;&nbsp; 265320 |
| **Office REITs–0.33%** | **Office REITs–0.33%** | **Office REITs–0.33%** | **Office REITs–0.33%** |
| &nbsp;&nbsp;&nbsp; Brandywine Operating Partnership L.P., <br> 3.95%, 11/15/2027<br>|  | 11000 | &nbsp;&nbsp; 10560 |
| &nbsp;&nbsp;&nbsp; Office Properties Income Trust, 9.00%, <br> 12/31/2059<sup>(b)(c)(h)</sup> <br>|  | 141000 | &nbsp;&nbsp; 100110 |
|  |  |  | &nbsp;&nbsp; 110670 |
| **Oil & Gas Drilling–1.28%** | **Oil & Gas Drilling–1.28%** | **Oil & Gas Drilling–1.28%** | **Oil & Gas Drilling–1.28%** |
| &nbsp;&nbsp;&nbsp; Summit Midstream Holdings LLC, 8.63%, <br> 10/31/2029<sup>(b)</sup> <br>|  | 86000 | &nbsp;&nbsp; 88503 |
| Transocean International Ltd., | Transocean International Ltd., |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 10/15/2032<sup>(b)</sup> <br>|  | 257000 | &nbsp;&nbsp; 274782 |
| &nbsp;&nbsp;&nbsp; 6.80%, 03/15/2038 |  | 68000 | &nbsp;&nbsp; 65375 |
|  |  |  | &nbsp;&nbsp; 428660 |
| **Oil & Gas Equipment & Services–1.09%** | **Oil & Gas Equipment & Services–1.09%** | **Oil & Gas Equipment & Services–1.09%** | **Oil & Gas Equipment & Services–1.09%** |
| &nbsp;&nbsp;&nbsp; Bristow Group, Inc., 6.75%, <br> 02/01/2033<sup>(b)</sup> <br>|  | 156000 | &nbsp;&nbsp; 157787 |
| Tidewater, Inc., 9.13%, 07/15/2030<sup>(b)</sup> <br>|  | 194000 | &nbsp;&nbsp; 206839 |
|  |  |  | &nbsp;&nbsp; 364626 |
| **Oil & Gas Exploration & Production–2.43%** | **Oil & Gas Exploration & Production–2.43%** | **Oil & Gas Exploration & Production–2.43%** | **Oil & Gas Exploration & Production–2.43%** |
| &nbsp;&nbsp;&nbsp; Caturus Energy LLC, 8.50%, <br> 02/15/2030<sup>(b)</sup> <br>|  | 203000 | &nbsp;&nbsp; 210782 |
| &nbsp;&nbsp;&nbsp; Comstock Resources, Inc., 6.75%, <br> 03/01/2029<sup>(b)</sup> <br>|  | 89000 | &nbsp;&nbsp; 87917 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Oil & Gas Exploration & Production–(continued)** | **Oil & Gas Exploration & Production–(continued)** | **Oil & Gas Exploration & Production–(continued)** | **Oil & Gas Exploration & Production–(continued)** |
| Hilcorp Energy I L.P./Hilcorp Finance Co., | Hilcorp Energy I L.P./Hilcorp Finance Co., |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 04/15/2032<sup>(b)</sup> <br>|  | $147000 | &nbsp;&nbsp; $142375 |
| &nbsp;&nbsp;&nbsp; 8.38%, 11/01/2033<sup>(b)</sup> <br>|  | 78000 | &nbsp;&nbsp; 81438 |
| &nbsp;&nbsp;&nbsp; 6.88%, 05/15/2034<sup>(b)</sup> <br>|  | 79000 | &nbsp;&nbsp; 77339 |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/15/2035<sup>(b)</sup> <br>|  | 37000 | &nbsp;&nbsp; 36916 |
| &nbsp;&nbsp;&nbsp; Infinity Natural Resources LLC, 7.63%, <br> 04/01/2031<sup>(b)</sup> <br>|  | 173000 | &nbsp;&nbsp; 174021 |
|  |  |  | &nbsp;&nbsp; 810788 |
| **Oil & Gas Refining & Marketing–2.54%** | **Oil & Gas Refining & Marketing–2.54%** | **Oil & Gas Refining & Marketing–2.54%** | **Oil & Gas Refining & Marketing–2.54%** |
| &nbsp;&nbsp;&nbsp; Calumet Specialty Products Partners L.P./. <br> Calumet Finance Corp., 9.75%, <br> 02/15/2031<sup>(b)</sup> <br>|  | 236000 | &nbsp;&nbsp; 250859 |
| CVR Energy, Inc., | CVR Energy, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 02/15/2031<sup>(b)</sup> <br>|  | 85000 | &nbsp;&nbsp; 85707 |
| &nbsp;&nbsp;&nbsp; 7.88%, 02/15/2034<sup>(b)</sup> <br>|  | 85000 | &nbsp;&nbsp; 85356 |
| Sunoco L.P., | Sunoco L.P., |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 03/15/2031<sup>(b)</sup> <br>|  | 87000 | &nbsp;&nbsp; 86662 |
| &nbsp;&nbsp;&nbsp; 6.25%, 07/01/2033<sup>(b)</sup> <br>|  | 110000 | &nbsp;&nbsp; 110567 |
| &nbsp;&nbsp;&nbsp; 5.88%, 03/15/2034<sup>(b)</sup> <br>|  | 151000 | &nbsp;&nbsp; 149439 |
| &nbsp;&nbsp;&nbsp; 7.88%<sup>(b)(f)(g)</sup> <br>|  | 79000 | &nbsp;&nbsp; 80721 |
|  |  |  | &nbsp;&nbsp; 849311 |
| **Oil & Gas Storage & Transportation–5.16%** | **Oil & Gas Storage & Transportation–5.16%** | **Oil & Gas Storage & Transportation–5.16%** | **Oil & Gas Storage & Transportation–5.16%** |
| &nbsp;&nbsp;&nbsp; Excelerate Energy L.P., 8.00%, <br> 05/15/2030<sup>(b)</sup> <br>|  | 87000 | &nbsp;&nbsp; 91113 |
| &nbsp;&nbsp;&nbsp; Genesis Energy L.P./Genesis Energy Finance <br> Corp., | &nbsp;&nbsp;&nbsp; Genesis Energy L.P./Genesis Energy Finance <br> Corp., |  |  |
| &nbsp;&nbsp;&nbsp; 8.88%, 04/15/2030 |  | 96000 | &nbsp;&nbsp; 100304 |
| &nbsp;&nbsp;&nbsp; 7.88%, 05/15/2032 |  | 124000 | &nbsp;&nbsp; 127605 |
| &nbsp;&nbsp;&nbsp; 8.00%, 05/15/2033 |  | 104000 | &nbsp;&nbsp; 107532 |
| &nbsp;&nbsp;&nbsp; 6.75%, 03/15/2034 |  | 93000 | &nbsp;&nbsp; 92624 |
| &nbsp;&nbsp;&nbsp; Global Partners L.P./GLP Finance Corp., <br> 7.13%, 07/01/2033<sup>(b)</sup> <br>|  | 93000 | &nbsp;&nbsp; 93818 |
| &nbsp;&nbsp;&nbsp; Northriver Midstream Finance L.P. <br> (Canada), 6.75%, 07/15/2032<sup>(b)</sup> <br>|  | 86000 | &nbsp;&nbsp; 86314 |
| &nbsp;&nbsp;&nbsp; Prairie Acquiror L.P., 9.00%, <br> 08/01/2029<sup>(b)</sup> <br>|  | 57000 | &nbsp;&nbsp; 59085 |
| Venture Global LNG, Inc., | Venture Global LNG, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 9.88%, 02/01/2032<sup>(b)(e)</sup> <br>|  | 305000 | &nbsp;&nbsp; 327716 |
| &nbsp;&nbsp;&nbsp; 9.00%<sup>(b)(f)(g)</sup> <br>|  | 291500 | &nbsp;&nbsp; 290576 |
| Venture Global Plaquemines LNG LLC, | Venture Global Plaquemines LNG LLC, |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 12/15/2030<sup>(b)</sup> <br>|  | 117000 | &nbsp;&nbsp; 120390 |
| &nbsp;&nbsp;&nbsp; 6.50%, 01/15/2034<sup>(b)</sup> <br>|  | 107000 | &nbsp;&nbsp; 111609 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/15/2036<sup>(b)</sup> <br>|  | 106000 | &nbsp;&nbsp; 112339 |
|  |  |  | &nbsp;&nbsp; 1721025 |
| **Other Specialized REITs–0.65%** | **Other Specialized REITs–0.65%** | **Other Specialized REITs–0.65%** | **Other Specialized REITs–0.65%** |
| &nbsp;&nbsp;&nbsp; Iron Mountain, Inc., 4.50%, <br> 02/15/2031<sup>(b)</sup> <br>|  | 230000 | &nbsp;&nbsp; 216095 |
| **Other Specialty Retail–2.72%** | **Other Specialty Retail–2.72%** | **Other Specialty Retail–2.72%** | **Other Specialty Retail–2.72%** |
| &nbsp;&nbsp;&nbsp; Bath & Body Works, Inc., 6.88%, <br> 11/01/2035<br>|  | 162000 | &nbsp;&nbsp; 159541 |
| Michaels Cos., Inc. (The), | Michaels Cos., Inc. (The), |  |  |
| &nbsp;&nbsp;&nbsp; 8.50%, 03/15/2033<sup>(b)</sup> <br>|  | 138000 | &nbsp;&nbsp; 134488 |
| &nbsp;&nbsp;&nbsp; 11.00%, 03/15/2034<sup>(b)</sup> <br>|  | 28000 | &nbsp;&nbsp; 26105 |
| PetSmart LLC/PetSmart Finance Corp., | PetSmart LLC/PetSmart Finance Corp., |  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 09/15/2032<sup>(b)</sup> <br>|  | 250000 | &nbsp;&nbsp; 251404 |
| &nbsp;&nbsp;&nbsp; 10.00%, 09/15/2033<sup>(b)</sup> <br>|  | 313000 | &nbsp;&nbsp; 312633 |
| SGUS LLC, 11.00%, 12/15/2029<sup>(b)(c)</sup> <br>|  | 29820 | &nbsp;&nbsp; 3280 |

---

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

**Invesco V.I. High Yield Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Other Specialty Retail–(continued)** | **Other Specialty Retail–(continued)** | **Other Specialty Retail–(continued)** | **Other Specialty Retail–(continued)** |
| Staples, Inc., | Staples, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 10.75%, 09/01/2029<sup>(b)</sup> <br>|  | $18000 | &nbsp;&nbsp; $16661 |
| &nbsp;&nbsp;&nbsp; 12.75%, 01/15/2030<sup>(b)</sup> <br>|  | 6000 | &nbsp;&nbsp; 4060 |
|  |  |  | &nbsp;&nbsp; 908172 |
| **Paper & Plastic Packaging Products & Materials–0.75%** | **Paper & Plastic Packaging Products & Materials–0.75%** | **Paper & Plastic Packaging Products & Materials–0.75%** | **Paper & Plastic Packaging Products & Materials–0.75%** |
| Clydesdale Acquisition Holdings, Inc., | Clydesdale Acquisition Holdings, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 8.75%, 04/15/2030<sup>(b)</sup> <br>|  | 179000 | &nbsp;&nbsp; 167178 |
| &nbsp;&nbsp;&nbsp; 6.75%, 04/15/2032<sup>(b)</sup> <br>|  | 88000 | &nbsp;&nbsp; 83365 |
|  |  |  | &nbsp;&nbsp; 250543 |
| **Passenger Airlines–2.48%** | **Passenger Airlines–2.48%** | **Passenger Airlines–2.48%** | **Passenger Airlines–2.48%** |
| &nbsp;&nbsp;&nbsp; American Airlines, Inc./AAdvantage Loyalty <br> IP Ltd., 5.75%, 04/20/2029<sup>(b)</sup> <br>|  | 166000 | &nbsp;&nbsp; 165198 |
| CHC Group LLC, 11.75%, 09/01/2030<sup>(b)</sup> <br>|  | 162000 | &nbsp;&nbsp; 157842 |
| United Airlines Holdings, Inc., | United Airlines Holdings, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 03/01/2029 |  | 185000 | &nbsp;&nbsp; 181408 |
| &nbsp;&nbsp;&nbsp; 5.38%, 03/01/2031<sup>(e)</sup> <br>|  | 329000 | &nbsp;&nbsp; 322606 |
|  |  |  | &nbsp;&nbsp; 827054 |
| **Personal Care Products–0.30%** | **Personal Care Products–0.30%** | **Personal Care Products–0.30%** | **Personal Care Products–0.30%** |
| &nbsp;&nbsp;&nbsp; Opal Bidco SAS (France), 6.50%, <br> 03/31/2032<sup>(b)</sup> <br>|  | 101000 | &nbsp;&nbsp; 101158 |
| **Pharmaceuticals–1.96%** | **Pharmaceuticals–1.96%** | **Pharmaceuticals–1.96%** | **Pharmaceuticals–1.96%** |
| &nbsp;&nbsp;&nbsp; 1261229 BC Ltd., 10.00%, <br> 04/15/2032<sup>(b)</sup> <br>|  | 360000 | &nbsp;&nbsp; 368888 |
| &nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals LLC, 6.88%, <br> 08/01/2032<sup>(b)</sup> <br>|  | 86000 | &nbsp;&nbsp; 88640 |
| Bausch Health Cos., Inc. (Canada), | Bausch Health Cos., Inc. (Canada), |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 02/15/2029<sup>(b)</sup> <br>|  | 17000 | &nbsp;&nbsp; 12401 |
| &nbsp;&nbsp;&nbsp; 6.25%, 02/15/2029<sup>(b)</sup> <br>|  | 19000 | &nbsp;&nbsp; 14274 |
| &nbsp;&nbsp;&nbsp; 5.25%, 01/30/2030<sup>(b)</sup> <br>|  | 26000 | &nbsp;&nbsp; 16826 |
| &nbsp;&nbsp;&nbsp; 5.25%, 02/15/2031<sup>(b)</sup> <br>|  | 19000 | &nbsp;&nbsp; 11590 |
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands <br> III B.V. (Israel), 4.10%, 10/01/2046<br>|  | 190000 | &nbsp;&nbsp; 141074 |
|  |  |  | &nbsp;&nbsp; 653693 |
| **Property & Casualty Insurance–1.04%** | **Property & Casualty Insurance–1.04%** | **Property & Casualty Insurance–1.04%** | **Property & Casualty Insurance–1.04%** |
| Asurion LLC and Asurion Co-Issuer, Inc., | Asurion LLC and Asurion Co-Issuer, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 12/31/2032<sup>(b)</sup> <br>|  | 242000 | &nbsp;&nbsp; 251266 |
| &nbsp;&nbsp;&nbsp; 8.38%, 02/01/2034<sup>(b)</sup> <br>|  | 99000 | &nbsp;&nbsp; 96185 |
|  |  |  | &nbsp;&nbsp; 347451 |
| **Research & Consulting Services–0.27%** | **Research & Consulting Services–0.27%** | **Research & Consulting Services–0.27%** | **Research & Consulting Services–0.27%** |
| &nbsp;&nbsp;&nbsp; Clarivate Science Holdings Corp., 4.88%, <br> 07/01/2029<sup>(b)</sup> <br>|  | 103000 | &nbsp;&nbsp; 89498 |
| **Security & Alarm Services–0.44%** | **Security & Alarm Services–0.44%** | **Security & Alarm Services–0.44%** | **Security & Alarm Services–0.44%** |
| Brink's Co. (The), 6.75%, 06/15/2032<sup>(b)</sup> <br>|  | 145000 | &nbsp;&nbsp; 146907 |
| **Semiconductors–1.08%** | **Semiconductors–1.08%** | **Semiconductors–1.08%** | **Semiconductors–1.08%** |
| AP Grange Holdings LLC, | AP Grange Holdings LLC, |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/20/2045<sup>(b)</sup> <br>|  | 136000 | &nbsp;&nbsp; 143650 |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/20/2045 |  | 11410 | &nbsp;&nbsp; 11410 |
| &nbsp;&nbsp;&nbsp; Kioxia Holdings Corp. (Japan), 6.63%, <br> 07/24/2033<sup>(b)</sup> <br>|  | 200000 | &nbsp;&nbsp; 205745 |
|  |  |  | &nbsp;&nbsp; 360805 |
| **Sovereign Debt–0.61%** | **Sovereign Debt–0.61%** | **Sovereign Debt–0.61%** | **Sovereign Debt–0.61%** |
| &nbsp;&nbsp;&nbsp; Brazilian Government International Bond <br> (Brazil), 6.63%, 03/15/2035<br>|  | 200000 | &nbsp;&nbsp; 204780 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Specialized Consumer Services–0.68%** | **Specialized Consumer Services–0.68%** | **Specialized Consumer Services–0.68%** | **Specialized Consumer Services–0.68%** |
| &nbsp;&nbsp;&nbsp; Carriage Services, Inc., 4.25%, <br> 05/15/2029<sup>(b)</sup> <br>|  | $240000 | &nbsp;&nbsp; $228204 |
| **Specialized Finance–1.74%** | **Specialized Finance–1.74%** | **Specialized Finance–1.74%** | **Specialized Finance–1.74%** |
| HA Sustainable Infrastructure Capital, Inc., | HA Sustainable Infrastructure Capital, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 06/01/2056<sup>(f)</sup> <br>|  | 143000 | &nbsp;&nbsp; 148014 |
| &nbsp;&nbsp;&nbsp; 7.13%, 11/15/2056<sup>(f)</sup> <br>|  | 99000 | &nbsp;&nbsp; 98561 |
| &nbsp;&nbsp;&nbsp; TrueNoord Capital DAC (Ireland), 8.75%, <br> 03/01/2030<sup>(b)</sup> <br>|  | 326000 | &nbsp;&nbsp; 333106 |
|  |  |  | &nbsp;&nbsp; 579681 |
| **Specialty Chemicals–0.39%** | **Specialty Chemicals–0.39%** | **Specialty Chemicals–0.39%** | **Specialty Chemicals–0.39%** |
| Celanese US Holdings LLC, | Celanese US Holdings LLC, |  |  |
| &nbsp;&nbsp;&nbsp; 7.20%, 11/15/2033 |  | 84000 | &nbsp;&nbsp; 89685 |
| &nbsp;&nbsp;&nbsp; 7.38%, 02/15/2034 |  | 38000 | &nbsp;&nbsp; 38965 |
|  |  |  | &nbsp;&nbsp; 128650 |
| **Systems Software–0.87%** | **Systems Software–0.87%** | **Systems Software–0.87%** | **Systems Software–0.87%** |
| McAfee Corp., 7.38%, 02/15/2030<sup>(b)</sup> <br>|  | 38000 | &nbsp;&nbsp; 31437 |
| Oak-Eagle AcquireCo, Inc., | Oak-Eagle AcquireCo, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 07/01/2033<sup>(b)</sup> <br>|  | 78000 | &nbsp;&nbsp; 80866 |
| &nbsp;&nbsp;&nbsp; 8.75%, 07/01/2034<sup>(b)</sup> <br>|  | 170000 | &nbsp;&nbsp; 178083 |
|  |  |  | &nbsp;&nbsp; 290386 |
| **Trading Companies & Distributors–1.00%** | **Trading Companies & Distributors–1.00%** | **Trading Companies & Distributors–1.00%** | **Trading Companies & Distributors–1.00%** |
| Air Lease Corp., Series B, 4.65%<sup>(f)(g)</sup> <br>|  | 168000 | &nbsp;&nbsp; 167695 |
| Aircastle Ltd., 5.25%<sup>(b)(f)(g)</sup> <br>|  | 166000 | &nbsp;&nbsp; 165770 |
|  |  |  | &nbsp;&nbsp; 333465 |
| **Wireless Telecommunication Services–0.85%** | **Wireless Telecommunication Services–0.85%** | **Wireless Telecommunication Services–0.85%** | **Wireless Telecommunication Services–0.85%** |
| &nbsp;&nbsp;&nbsp; Vodafone Group PLC (United Kingdom), <br> 4.13%, 06/04/2081<sup>(f)</sup> <br>|  | 311000 | &nbsp;&nbsp; 284768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Dollar Denominated Bonds & Notes <br> (Cost $28,129,266) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Dollar Denominated Bonds & Notes <br> (Cost $28,129,266) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Dollar Denominated Bonds & Notes <br> (Cost $28,129,266) | &nbsp;&nbsp; 28300243 |
| **Variable Rate Senior Loan Interests–8.48%**<sup>(i)(j)</sup>  | **Variable Rate Senior Loan Interests–8.48%**<sup>(i)(j)</sup>  | **Variable Rate Senior Loan Interests–8.48%**<sup>(i)(j)</sup>  | **Variable Rate Senior Loan Interests–8.48%**<sup>(i)(j)</sup>  |
| **Advertising–1.39%** | **Advertising–1.39%** | **Advertising–1.39%** | **Advertising–1.39%** |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc., Term <br> Loan B, 7.78% (1 mo. Term SOFR + <br> 4.11%), 08/23/2028<br>|  | 461188 | &nbsp;&nbsp; 463032 |
| **Aerospace & Defense–1.16%** | **Aerospace & Defense–1.16%** | **Aerospace & Defense–1.16%** | **Aerospace & Defense–1.16%** |
| &nbsp;&nbsp;&nbsp; TransDigm, Inc., Term Loan L, 6.17% (3 <br> mo. Term SOFR + 2.50%), <br> 01/19/2032<br>|  | 385646 | &nbsp;&nbsp; 386057 |
| **Cable & Satellite–0.11%** | **Cable & Satellite–0.11%** | **Cable & Satellite–0.11%** | **Cable & Satellite–0.11%** |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC, Term Loan, 8.25% <br> (Prime Rate + 1.50%), 04/15/2027<br>|  | 42618 | &nbsp;&nbsp; 37663 |
| **Diversified Financial Services–0.24%** | **Diversified Financial Services–0.24%** | **Diversified Financial Services–0.24%** | **Diversified Financial Services–0.24%** |
| &nbsp;&nbsp;&nbsp; Janus Henderson Group PLC, Term Loan, <br> —%, 03/25/2033<sup>(k)(l)</sup> <br>|  | 78600 | &nbsp;&nbsp; 78600 |
| **Electronic Manufacturing Services–0.82%** | **Electronic Manufacturing Services–0.82%** | **Electronic Manufacturing Services–0.82%** | **Electronic Manufacturing Services–0.82%** |
| &nbsp;&nbsp;&nbsp; EMRLD Borrower L.P. (Copeland), <br> Incremental Term Loan B, 5.95% (3 <br> mo. Term SOFR + 2.25%), <br> 08/04/2031<br>|  | 274005 | &nbsp;&nbsp; 273862 |
| **Health Care Services–0.09%** | **Health Care Services–0.09%** | **Health Care Services–0.09%** | **Health Care Services–0.09%** |
| &nbsp;&nbsp;&nbsp; MPH Acquisition Holdings LLC, Term Loan, <br> 7.42% (3 mo. Term SOFR + 3.75%), <br> 12/31/2030<br>|  | 28914 | &nbsp;&nbsp; 28907 |

---

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

**Invesco V.I. High Yield Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Health Care Supplies–0.59%** | **Health Care Supplies–0.59%** | **Health Care Supplies–0.59%** | **Health Care Supplies–0.59%** |
| &nbsp;&nbsp;&nbsp; Bausch and Lomb, Inc., Term Loan B, <br> 7.42% (1 mo. Term SOFR + 3.75%), <br> 01/30/2031<br>|  | $197628 | &nbsp;&nbsp; $198308 |
| **Office REITs–0.13%** | **Office REITs–0.13%** | **Office REITs–0.13%** | **Office REITs–0.13%** |
| Office Properties Income Trust, | Office Properties Income Trust, |  |  |
| &nbsp;&nbsp;&nbsp; 12.00%, 05/04/2026<sup>(l)</sup> <br>|  | 35961 | &nbsp;&nbsp; 35961 |
| &nbsp;&nbsp;&nbsp; 0.00%, 05/04/2026<sup>(m)</sup> <br>|  | 6912 | &nbsp;&nbsp; 7094 |
|  |  |  | &nbsp;&nbsp; 43055 |
| **Oil & Gas Storage & Transportation–0.24%** | **Oil & Gas Storage & Transportation–0.24%** | **Oil & Gas Storage & Transportation–0.24%** | **Oil & Gas Storage & Transportation–0.24%** |
| &nbsp;&nbsp;&nbsp; Prairie Acquiror L.P., Term Loan B, 6.92% <br> (1 mo. Term SOFR + 3.25%), <br> 08/01/2029<br>|  | 80464 | &nbsp;&nbsp; 80766 |
| **Paper & Plastic Packaging Products & Materials–0.28%** | **Paper & Plastic Packaging Products & Materials–0.28%** | **Paper & Plastic Packaging Products & Materials–0.28%** | **Paper & Plastic Packaging Products & Materials–0.28%** |
| &nbsp;&nbsp;&nbsp; Iris Holding, Inc. (Intertape), First Lien <br> Term Loan, 8.52% (3 mo. Term SOFR + <br> 4.75%), 06/28/2028<br>|  | 100739 | &nbsp;&nbsp; 94667 |
| **Pharmaceuticals–0.48%** | **Pharmaceuticals–0.48%** | **Pharmaceuticals–0.48%** | **Pharmaceuticals–0.48%** |
| &nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals LLC, Term Loan, <br> 6.67% (1 mo. Term SOFR + 3.00%), <br> 08/01/2032<br>|  | 47755 | &nbsp;&nbsp; 47974 |
| &nbsp;&nbsp;&nbsp; Endo Finance Holdings L.P., Term Loan B, <br> 7.42% (1 mo. Term SOFR + 3.75%), <br> 04/23/2031<br>|  | 111919 | &nbsp;&nbsp; 111500 |
|  |  |  | &nbsp;&nbsp; 159474 |
| **Real Estate Development–1.26%** | **Real Estate Development–1.26%** | **Real Estate Development–1.26%** | **Real Estate Development–1.26%** |
| &nbsp;&nbsp;&nbsp; Greystar Real Estate Partners LLC, Term <br> Loan B, 6.17% (3 mo. Term SOFR + <br> 2.50%), 08/21/2030<sup>(l)</sup> <br>|  | 177456 | &nbsp;&nbsp; 177900 |
| &nbsp;&nbsp;&nbsp; VCI Asset Holdings 2 LLC, Term Loan, —%, <br> 02/06/2031<sup>(k)</sup> <br>|  | 235000 | &nbsp;&nbsp; 242050 |
|  |  |  | &nbsp;&nbsp; 419950 |
| **Real Estate Operating Companies–1.69%** | **Real Estate Operating Companies–1.69%** | **Real Estate Operating Companies–1.69%** | **Real Estate Operating Companies–1.69%** |
| &nbsp;&nbsp;&nbsp; Cushman & Wakefield U.S. Borrower LLC, <br> Term Loan, 6.42% (1 mo. Term SOFR + <br> 2.75%), 01/31/2030<br>|  | 562080 | &nbsp;&nbsp; 564890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Variable Rate Senior Loan Interests <br> (Cost $2,821,297) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Variable Rate Senior Loan Interests <br> (Cost $2,821,297) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Variable Rate Senior Loan Interests <br> (Cost $2,821,297) | &nbsp;&nbsp; 2829231 |
| **Non-U.S. Dollar Denominated Bonds & Notes–1.73%**<sup>(n)</sup>  | **Non-U.S. Dollar Denominated Bonds & Notes–1.73%**<sup>(n)</sup>  | **Non-U.S. Dollar Denominated Bonds & Notes–1.73%**<sup>(n)</sup>  | **Non-U.S. Dollar Denominated Bonds & Notes–1.73%**<sup>(n)</sup>  |
| **Automotive Parts & Equipment–0.51%** | **Automotive Parts & Equipment–0.51%** | **Automotive Parts & Equipment–0.51%** | **Automotive Parts & Equipment–0.51%** |
| &nbsp;&nbsp;&nbsp; Clarios Global L.P./Clarios US Finance Co., <br> 4.75%, 06/15/2031<sup>(b)</sup> <br>| EUR | 150000 | &nbsp;&nbsp; 170663 |
| **IT Consulting & Other Services–0.41%** | **IT Consulting & Other Services–0.41%** | **IT Consulting & Other Services–0.41%** | **IT Consulting & Other Services–0.41%** |
| &nbsp;&nbsp;&nbsp; Atos SE (France), 5.20%, <br> 12/18/2030<sup>(b)(o)</sup> <br>| EUR | 125000 | &nbsp;&nbsp; 136647 |
| **Marine Transportation–0.49%** | **Marine Transportation–0.49%** | **Marine Transportation–0.49%** | **Marine Transportation–0.49%** |
| &nbsp;&nbsp;&nbsp; CMA CGM S.A. (France), 4.88%, <br> 01/15/2032<sup>(b)</sup> <br>| EUR | 150000 | &nbsp;&nbsp; 162984 |
| **Transaction & Payment Processing Services–0.32%** | **Transaction & Payment Processing Services–0.32%** | **Transaction & Payment Processing Services–0.32%** | **Transaction & Payment Processing Services–0.32%** |
| &nbsp;&nbsp;&nbsp; Worldline S.A. (France), 4.13%, <br> 09/12/2028<sup>(b)</sup> <br>| EUR | 100000 | &nbsp;&nbsp; 105445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Non-U.S. Dollar Denominated Bonds & Notes <br> (Cost $572,628) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Non-U.S. Dollar Denominated Bonds & Notes <br> (Cost $572,628) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Non-U.S. Dollar Denominated Bonds & Notes <br> (Cost $572,628) | &nbsp;&nbsp; 575739 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Shares** | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Shares** | **Value** |
| **Exchange-Traded Funds–0.65%** | **Exchange-Traded Funds–0.65%** | **Exchange-Traded Funds–0.65%** | **Exchange-Traded Funds–0.65%** |
| &nbsp;&nbsp;&nbsp; BondBloxx CCC-Rated USD High Yield Corporate <br> Bond ETF <br>(Cost $228,210) | &nbsp;&nbsp;&nbsp; BondBloxx CCC-Rated USD High Yield Corporate <br> Bond ETF <br>(Cost $228,210) | 6000 | &nbsp;&nbsp; $218400 |
| **Common Stocks & Other Equity Interests–0.42%** | **Common Stocks & Other Equity Interests–0.42%** | **Common Stocks & Other Equity Interests–0.42%** | **Common Stocks & Other Equity Interests–0.42%** |
| **Alternative Carriers–0.02%** | **Alternative Carriers–0.02%** | **Alternative Carriers–0.02%** | **Alternative Carriers–0.02%** |
| Lumen Technologies, Inc.<sup>(p)</sup>  | Lumen Technologies, Inc.<sup>(p)</sup>  | 1000 | &nbsp;&nbsp; 6950 |
| **Broadline Retail–0.03%** | **Broadline Retail–0.03%** | **Broadline Retail–0.03%** | **Broadline Retail–0.03%** |
| Americanas S.A. (Brazil)<sup>(p)</sup>  | Americanas S.A. (Brazil)<sup>(p)</sup>  | 7832 | &nbsp;&nbsp; 7833 |
| &nbsp;&nbsp;&nbsp; Americanas S.A., Wts., expiring 03/19/2027 <br> (Brazil)<sup>(p)</sup>  | &nbsp;&nbsp;&nbsp; Americanas S.A., Wts., expiring 03/19/2027 <br> (Brazil)<sup>(p)</sup>  | 2611 | &nbsp;&nbsp; 1512 |
|  |  |  | &nbsp;&nbsp; 9345 |
| **Casinos & Gaming–0.00%** | **Casinos & Gaming–0.00%** | **Casinos & Gaming–0.00%** | **Casinos & Gaming–0.00%** |
| &nbsp;&nbsp;&nbsp; Codere Online Luxembourg S.A., Wts., expiring <br> 10/15/2034 (Spain)<sup>(l)</sup>  | &nbsp;&nbsp;&nbsp; Codere Online Luxembourg S.A., Wts., expiring <br> 10/15/2034 (Spain)<sup>(l)</sup>  | 3 | &nbsp;&nbsp; 2 |
| **Food Retail–0.00%** | **Food Retail–0.00%** | **Food Retail–0.00%** | **Food Retail–0.00%** |
| Casino Guichard-Perrachon S.A. (France)<sup>(p)</sup>  | Casino Guichard-Perrachon S.A. (France)<sup>(p)</sup>  | 3370 | &nbsp;&nbsp; 630 |
| &nbsp;&nbsp;&nbsp; Casino Guichard-Perrachon S.A., Wts., expiring <br> 04/27/2029 (France)<sup>(p)</sup>  | &nbsp;&nbsp;&nbsp; Casino Guichard-Perrachon S.A., Wts., expiring <br> 04/27/2029 (France)<sup>(p)</sup>  | 184690 | &nbsp;&nbsp; 106 |
|  |  |  | &nbsp;&nbsp; 736 |
| **Integrated Telecommunication Services–0.29%** | **Integrated Telecommunication Services–0.29%** | **Integrated Telecommunication Services–0.29%** | **Integrated Telecommunication Services–0.29%** |
| Altice France Holding S.A. (Luxembourg) | Altice France Holding S.A. (Luxembourg) | 1128 | &nbsp;&nbsp; 166 |
| Altice France S.A. (France) | Altice France S.A. (France) | 5719 | &nbsp;&nbsp; 97337 |
|  |  |  | &nbsp;&nbsp; 97503 |
| **Multi-Utilities–0.08%** | **Multi-Utilities–0.08%** | **Multi-Utilities–0.08%** | **Multi-Utilities–0.08%** |
| VCI Compute II LLC<sup>(l)</sup>  | VCI Compute II LLC<sup>(l)</sup>  | 25000 | &nbsp;&nbsp; 25000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br> (Cost $185,630) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br> (Cost $185,630) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br> (Cost $185,630) | &nbsp;&nbsp; 139536 |
| **Preferred Stocks–0.14%** | **Preferred Stocks–0.14%** | **Preferred Stocks–0.14%** | **Preferred Stocks–0.14%** |
| **Household Appliances–0.14%** | **Household Appliances–0.14%** | **Household Appliances–0.14%** | **Household Appliances–0.14%** |
| &nbsp;&nbsp;&nbsp; Whirlpool Corp., 8.50%, Series A, Conv. Pfd. <br>(Cost $57,600) | &nbsp;&nbsp;&nbsp; Whirlpool Corp., 8.50%, Series A, Conv. Pfd. <br>(Cost $57,600) | 1152 | &nbsp;&nbsp; 47174 |
| **Money Market Funds–1.73%** | **Money Market Funds–1.73%** | **Money Market Funds–1.73%** | **Money Market Funds–1.73%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.58%<sup>(q)(r)</sup>  | &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.58%<sup>(q)(r)</sup>  | 201647 | &nbsp;&nbsp; 201647 |
| &nbsp;&nbsp;&nbsp; Invesco Treasury Portfolio, Institutional Class, <br> 3.56%<sup>(q)(r)</sup>  | &nbsp;&nbsp;&nbsp; Invesco Treasury Portfolio, Institutional Class, <br> 3.56%<sup>(q)(r)</sup>  | 374488 | &nbsp;&nbsp; 374488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Money Market Funds (Cost $576,135) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Money Market Funds (Cost $576,135) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Money Market Funds (Cost $576,135) | &nbsp;&nbsp; 576135 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br> (excluding investments purchased with <br> cash collateral from securities on <br> loan)-97.95% (Cost $32,570,766)<br>|  |  | &nbsp;&nbsp; 32686458 |
| **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** |
| **Money Market Funds–2.72%** | **Money Market Funds–2.72%** | **Money Market Funds–2.72%** | **Money Market Funds–2.72%** |
| Invesco Private Government Fund, 3.63%<sup>(q)(r)(s)</sup>  | Invesco Private Government Fund, 3.63%<sup>(q)(r)(s)</sup>  | 252396 | &nbsp;&nbsp; 252396 |
| Invesco Private Prime Fund, 3.80%<sup>(q)(r)(s)</sup>  | Invesco Private Prime Fund, 3.80%<sup>(q)(r)(s)</sup>  | 655872 | &nbsp;&nbsp; 655937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan (Cost $908,412) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan (Cost $908,412) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan (Cost $908,412) | &nbsp;&nbsp; 908333 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES–100.67% <br> (Cost $33,479,178) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES–100.67% <br> (Cost $33,479,178) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES–100.67% <br> (Cost $33,479,178) | &nbsp;&nbsp; 33594791 |
| OTHER ASSETS LESS LIABILITIES—(0.67)% | OTHER ASSETS LESS LIABILITIES—(0.67)% | OTHER ASSETS LESS LIABILITIES—(0.67)% | &nbsp;&nbsp; (223352)<br>|
| NET ASSETS–100.00% | NET ASSETS–100.00% | NET ASSETS–100.00% | &nbsp;&nbsp; $33371439 |

---

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

**Invesco V.I. High Yield Fund**

------

Investment Abbreviations:

---

| | |
|:---|:---|
| Conv. | – Convertible |
| ETF | – Exchange-Traded Fund |
| EUR | – Euro |
| Pfd. | – Preferred |
| PIK | – Pay-in-Kind |
| REIT | – Real Estate Investment Trust |
| SOFR | – Secured Overnight Financing Rate |
| USD | – U.S. Dollar |
| Wts. | – Warrants |

---

Notes to Schedule of Investments:

<sup>(a)</sup> 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. 

<sup>(b)</sup> 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, 2026 was $24,296,301, which represented 72.81% of the Fund's Net Assets. 

<sup>(c)</sup> Defaulted security. Currently, the issuer is in default with respect to principal and/or interest payments. The aggregate value of these securities at March 31, 2026 was $104,631, which represented less than 1% of the Fund's Net Assets. 

<sup>(d)</sup> All or a portion of this security is Pay-in-Kind. Pay-in-Kind securities pay interest income in the form of securities.

<sup>(e)</sup> All or a portion of this security was out on loan at March 31, 2026.

<sup>(f)</sup> Security issued at a fixed rate for a specific period of time, after which it will convert to a variable rate.

<sup>(g)</sup> Perpetual bond with no specified maturity date.

<sup>(h)</sup> Restructured security not accruing interest income. The aggregate value of these securities at March 31, 2026 was $100,110, which represented less than 1% of the Fund's Net Assets. 

<sup>(i)</sup> 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. 

<sup>(j)</sup> Variable rate senior loan interests are, at present, not readily marketable, not registered under 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. 

<sup>(k)</sup> This variable rate interest will settle after March 31, 2026, at which time the interest rate will be determined.

<sup>(l)</sup> Security valued using significant unobservable inputs (Level 3). See Note 1.

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

<sup>(n)</sup> Foreign denominated security. Principal amount is denominated in the currency indicated.

<sup>(o)</sup> Step coupon bond. The interest rate represents the coupon rate at which the bond will accrue at a specified future date.

<sup>(p)</sup> Non-income producing security.

<sup>(q)</sup> 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, 2026. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**December 31, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**March 31, 2026**<br>| **Dividend Income** |
| **Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, Institutional <br> Class<br>| $456589 | &nbsp;&nbsp; $2482669 | &nbsp;&nbsp; $(2737611) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $201647 | &nbsp;&nbsp; $1472 |
| Invesco Treasury Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp; 847951 | &nbsp;&nbsp;&nbsp; 4610671 | &nbsp;&nbsp;&nbsp; (5084134) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; 374488 | &nbsp;&nbsp;&nbsp; 2709 |
| **Investments Purchased with Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp; 476928 | &nbsp;&nbsp;&nbsp; 2868418 | &nbsp;&nbsp;&nbsp; (3092950) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; 252396 | &nbsp;&nbsp; 3,410\* |
| Invesco Private Prime Fund | &nbsp;&nbsp; 1240034 | &nbsp;&nbsp;&nbsp; 5436083 | &nbsp;&nbsp;&nbsp; (6020049) | &nbsp;&nbsp; (79) | &nbsp;&nbsp; (52) | &nbsp;&nbsp;&nbsp;&nbsp; 655937 | &nbsp;&nbsp; 9,619\* |
| Total | $3021502 | &nbsp;&nbsp; $15397841 | &nbsp;&nbsp; $(16934744) | &nbsp;&nbsp; $(79) | &nbsp;&nbsp; $(52) | &nbsp;&nbsp; $1484468 | &nbsp;&nbsp; $17210 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(r)</sup> The rate shown is the 7-day SEC standardized yield as of March 31, 2026. <br> <sup>(s)</sup> 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

**Invesco V.I. High Yield Fund**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** |
| **Settlement** <br>**Date** | **Counterparty** | **Contract to** | **Contract to** | **Contract to** | **Contract to** | &nbsp;&nbsp; **Unrealized** <br>**Appreciation** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)** |
| **Settlement** <br>**Date** | **Counterparty** | **Deliver** | **Deliver** | **Receive** | **Receive** | &nbsp;&nbsp; **Unrealized** <br>**Appreciation** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)** |
| **Currency Risk** |  |  |  |  |  |  |
| 04/28/2026 | Canadian Imperial Bank of Commerce | GBP | 33000 | USD | 44541 | &nbsp;&nbsp;&nbsp; $863 |
| 04/28/2026 | Goldman Sachs International | EUR | 1594000 | USD | 1880378 | &nbsp;&nbsp;&nbsp; 35676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal—Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal—Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal—Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal—Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal—Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal—Appreciation | &nbsp;&nbsp;&nbsp; 36539 |
| **Currency Risk** |  |  |  |  |  |  |
| 04/28/2026 | UBS AG | USD | 668669 | EUR | 570000 | &nbsp;&nbsp;&nbsp; (9020)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp; $27519 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Open Centrally Cleared Credit Default Swap Agreements** | **Open Centrally Cleared Credit Default Swap Agreements** | **Open Centrally Cleared Credit Default Swap Agreements** | **Open Centrally Cleared Credit Default Swap Agreements** | **Open Centrally Cleared Credit Default Swap Agreements** | **Open Centrally Cleared Credit Default Swap Agreements** | **Open Centrally Cleared Credit Default Swap Agreements** | **Open Centrally Cleared Credit Default Swap Agreements** | **Open Centrally Cleared Credit Default Swap Agreements** | **Open Centrally Cleared Credit Default Swap Agreements** | **Open Centrally Cleared Credit Default Swap Agreements** |
| **Reference Entity** | &nbsp;&nbsp; **Buy/Sell** <br>**Protection**<br>| **(Pay)/** <br>**Receive** <br>**Fixed** <br>**Rate**<br>| &nbsp;&nbsp; **Payment** <br>**Frequency**<br>| **Maturity Date** | **Implied** <br>**Credit** <br>**Spread**<sup>(a)</sup> <br>| **Notional Value** | **Notional Value** | **Upfront** <br>**Payments Paid** <br>**(Received)**<br>| **Value** | **Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>|
| **Credit Risk** | **Credit Risk** | **Credit Risk** | **Credit Risk** | **Credit Risk** | **Credit Risk** | **Credit Risk** | **Credit Risk** | **Credit Risk** | **Credit Risk** | **Credit Risk** |
| &nbsp;&nbsp;&nbsp; Markit CDX North America High Yield Index, <br> Series 45, Version 1<br>| Sell | 5.00% | Quarterly | &nbsp;&nbsp; 12/20/2030 | 3.641% | USD | 1524600 | &nbsp;&nbsp; $108758 | &nbsp;&nbsp; $80365 | &nbsp;&nbsp; $(28393)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Implied credit spreads represent the current level, as of March 31, 2026, at which protection could be bought or sold given the terms of the existing credit default swap agreement and serve as an indicator of the current status of the payment/performance risk of the credit default swap agreement. An implied credit spread that has widened or increased since entry into the initial agreement may indicate a deteriorating credit profile and increased risk of default for the reference entity. A declining or narrowing spread may indicate an improving credit profile or decreased risk of default for the reference entity. Alternatively, credit spreads may increase or decrease reflecting the general tolerance for risk in the credit markets generally. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| EUR | —Euro |
| GBP | —British Pound Sterling |
| 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. High Yield Fund**

------

**Notes to Quarterly Schedule of Portfolio Holdings**

*March 31, 2026*

*(Unaudited)*

**NOTE 1—Additional Valuation Information**

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

Level 1 – Prices are determined using quoted prices in an active market for identical assets.

Level 2 – Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. When market movements occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.

Level 3 – Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect Invesco Advisers, Inc.'s assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

The following is a summary of the tiered valuation input levels, as of March 31, 2026. 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** |
| <br>**Investments in Securities** |  |  |  |  |
| U.S. Dollar Denominated Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $28300243 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $28300243 |
| Variable Rate Senior Loan Interests | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2536770 | &nbsp;&nbsp;&nbsp;&nbsp; 292461 | &nbsp;&nbsp;&nbsp;&nbsp; 2829231 |
| Non-U.S. Dollar Denominated Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 575739 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 575739 |
| Exchange-Traded Funds | &nbsp;&nbsp;&nbsp;&nbsp; 218400 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 218400 |
| Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;&nbsp; 16401 | &nbsp;&nbsp;&nbsp;&nbsp; 98133 | &nbsp;&nbsp;&nbsp;&nbsp; 25002 | &nbsp;&nbsp;&nbsp;&nbsp; 139536 |
| Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 47174 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 47174 |
| Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp; 576135 | &nbsp;&nbsp;&nbsp;&nbsp; 908333 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1484468 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp;&nbsp; 858110 | &nbsp;&nbsp;&nbsp;&nbsp; 32419218 | &nbsp;&nbsp;&nbsp;&nbsp; 317463 | &nbsp;&nbsp;&nbsp;&nbsp; 33594791 |
| **Other Investments - Assets\*** |  |  |  |  |
| Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 36539 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 36539 |
| **Other Investments - Liabilities\*** |  |  |  |  |
| Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (9020)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (9020)<br>|
| Swap Agreements | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (28393)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (28393)<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (37413)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (37413)<br>|
| **Total Other Investments** | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (874)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (874)<br>|
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $858110 | &nbsp;&nbsp;&nbsp;&nbsp; $32418344 | &nbsp;&nbsp;&nbsp;&nbsp; $317463 | &nbsp;&nbsp;&nbsp;&nbsp; $33593917 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Unrealized appreciation (depreciation).

**Invesco V.I. High Yield Fund**

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** AIM Variable Insurance Funds (Invesco Variable Insurance Funds)

- **b. Investment Company Act file number:** 811-07452

- **c. CIK number of Registrant:** 0000896435

- **d. LEI of Registrant:** FC4UULIMJMGKBDUARB13

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 11 Greenway Plaza

  - **City:** Houston

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 77046-1173

  - **Telephone number:** 800-959-4246

**Item A.2. Information about the Series.**

- **a. Name of Series:** Invesco V.I. High Yield Fund

- **b. EDGAR series identifier (if any):** S000000181

- **c. LEI of Series:** NXVJAF7LZXLN7Z7FB083

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $34982178.82

**Total Liabilities:** $1569856.33

**Net Assets:** $33412322.49

**Delayed Delivery Securities:** $422732.00

**Cash Not Reported:** $326452.42

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -5.46962538 | **1-Year:** -50.97808151 | **5-Year:** -1543.46407038 | **10-Year:** -493.94617853 | **30-Year:** -336.51331096

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -42.80191314 | **1-Year:** -1519.61125696 | **5-Year:** -6655.58393417 | **10-Year:** -2245.37195876 | **30-Year:** -114.75788012

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000000408 | 0.42%                | 0.21%                | -1.26%               |
| Class ID C000000409 | 0.21%                | 0.21%                | -1.07%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $70191.16                | $-124076.94                                |
| Month 2  | $-30021.60               | $-58806.79                                 |
| Month 3  | $-42252.41               | $-519077.11                                |

**Designated Index Information**

- **Index Name:** Bloomberg Barclays US HY 2% Issuer Capped

- **Index Identifier:** 100% BB-US HY 2% Issr Cap UH

### Schedule of Portfolio Investments

| Name                                                                          | Title                                                                         | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PetSmart LLC / PetSmart Finance Corp.                                         | PetSmart LLC / PetSmart Finance Corp.                                         | CUSIP: 71677KAC2<br>LEI: 894500NGJMHSFNESGA67 | Long             | DBT              | CORP              | US        |    250000 | PA      | $251403.75    | 0.75%             | 2032-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| EnerSys                                                                       | EnerSys                                                                       | CUSIP: 29275YAF9<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | DBT              | CORP              | US        |    144000 | PA      | $147302.78    | 0.44%             | 2032-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Altice France Holding S.A.                                                    | Altice France Holding S.A.                                                    | CUSIP: N/A<br>LEI: 5299000JVHXKJPOE6H40       | Long             | EC               | CORP              | LU        |      1128 | NS      | $166.23       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                               | TransDigm, Inc.                                                               | CUSIP: 893647CB1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    168000 | PA      | $165445.12    | 0.50%             | 2034-07-31      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Uniti Group L.P./ Uniti Group Finance 2019 Inc / CSL Capital LLC              | Uniti Group L.P./ Uniti Group Finance 2019 Inc / CSL Capital LLC              | CUSIP: 91327TAC5<br>LEI: 549300KT9GVEBYCD2N29 | Long             | DBT              | CORP              | US        |     95000 | PA      | $96824.07     | 0.29%             | 2032-06-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems, Inc.                                            | CHS/Community Health Systems, Inc.                                            | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    120000 | PA      | $113174.68    | 0.34%             | 2030-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Iris Holding, Inc. (Intertape)                                                | Iris Holding, Inc. (Intertape), First Lien Term Loan                          | CUSIP: 46271BAB6<br>LEI: 54930013SPZ2NB3I3V40 | Long             | LON              | CORP              | US        |    100739 | PA      | $94667.48     | 0.28%             | 2028-06-28      | Floating      | 8.52%                 | No            |                  2 | On Loan: No      |
| VoltaGrid LLC                                                                 | VoltaGrid LLC                                                                 | CUSIP: 92874BAA3<br>LEI: 254900R5BEUGIKK1FM03 | Long             | DBT              | CORP              | US        |    329000 | PA      | $339945.50    | 1.02%             | 2030-11-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Kioxia Holdings Corp.                                                         | Kioxia Holdings Corp.                                                         | CUSIP: 49726JAB4<br>LEI: 35380080RTKRARNH4R73 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $205744.97    | 0.62%             | 2033-07-24      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos. Inc.                                                       | Bausch Health Cos. Inc.                                                       | CUSIP: 071734AK3<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     19000 | PA      | $14273.75     | 0.04%             | 2029-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.                                           | American Axle & Manufacturing, Inc.                                           | CUSIP: 02406PBD1<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    162000 | PA      | $157806.31    | 0.47%             | 2033-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Aircastle Ltd.                                                                | Aircastle Ltd.                                                                | CUSIP: 00928QAW1<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | BM        |    166000 | PA      | $165770.21    | 0.50%             | N/A             | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Allison Transmission, Inc.                                                    | Allison Transmission, Inc.                                                    | CUSIP: 019736AG2<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |    157000 | PA      | $146247.15    | 0.44%             | 2031-01-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Starz Capital Holdings 1, Inc.                                                | Starz Capital Holdings 1, Inc.                                                | CUSIP: 535939AA0<br>LEI: 549300MWJHNLR35C0837 | Long             | DBT              | CORP              | US        |    288000 | PA      | $265320.00    | 0.79%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Navient Corp.                                                                 | Navient Corp.                                                                 | CUSIP: 63938CAM0<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |     88000 | PA      | $80745.47     | 0.24%             | 2029-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| United Airlines Holdings, Inc.                                                | United Airlines Holdings, Inc.                                                | CUSIP: 910047AL3<br>LEI: 98450079DA0B78DD6764 | Long             | DBT              | CORP              | US        |    329000 | PA      | $322606.44    | 0.97%             | 2031-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: —       |
| Navient Corp.                                                                 | Navient Corp.                                                                 | CUSIP: 63938CAN8<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |     23000 | PA      | $22441.64     | 0.07%             | 2030-07-25      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| OFFICE PROPERTIES INCOME TRUST                                                | OFFICE PROPERTIES INCOME TRUST, Term Loan                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     35961 | PA      | $35960.75     | 0.11%             | 2026-05-04      | Floating      | 12.00%                | No            |                  3 | On Loan: No      |
| APLD ComputeCo LLC                                                            | APLD ComputeCo LLC                                                            | CUSIP: 00202DAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     78000 | PA      | $80433.76     | 0.24%             | 2030-12-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                               | TransDigm, Inc.                                                               | CUSIP: 893647BW6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    119000 | PA      | $119065.88    | 0.36%             | 2033-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CCO Holdings, LLC/CCO Holdings Capital Corp.                                  | CCO Holdings, LLC/CCO Holdings Capital Corp.                                  | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    338000 | PA      | $333562.97    | 1.00%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HA Sustainable Infrastructure Capital, Inc.                                   | HA Sustainable Infrastructure Capital, Inc.                                   | CUSIP: 41068XAH3<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |     99000 | PA      | $98561.33     | 0.29%             | 2056-11-15      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| Sensata Technologies, Inc.                                                    | Sensata Technologies, Inc.                                                    | CUSIP: 81728UAB0<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |     44000 | PA      | $40843.45     | 0.12%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Navient Corp.                                                                 | Navient Corp.                                                                 | CUSIP: 63938CAL2<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |     37000 | PA      | $34950.40     | 0.10%             | 2028-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc.                                                               | Sabre GLBL Inc.                                                               | CUSIP: 78573NAM4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |     19000 | PA      | $16150.19     | 0.05%             | 2030-07-15      | Fixed         | 11.12%                | No            |                  2 | On Loan: No      |
| Cougar JV Subsidiary, LLC                                                     | Cougar JV Subsidiary, LLC                                                     | CUSIP: 22208WAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $93124.71     | 0.28%             | 2032-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| WULF Compute LLC                                                              | WULF Compute LLC                                                              | CUSIP: 982911AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     78000 | PA      | $82470.57     | 0.25%             | 2030-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                                      | Lumen Technologies, Inc., Series U                                            | CUSIP: 156700AT3<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |      4000 | PA      | $3674.76      | 0.01%             | 2042-03-15      | Fixed         | 7.65%                 | No            |                  2 | On Loan: No      |
| Owens-Brockway Glass Container Inc.                                           | Owens-Brockway Glass Container Inc.                                           | CUSIP: 69073TAU7<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |    165000 | PA      | $158210.78    | 0.47%             | 2031-05-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Brandywine Operating Partnership, L.P.                                        | Brandywine Operating Partnership, L.P.                                        | CUSIP: 105340AQ6<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              | CORP              | US        |     11000 | PA      | $10559.94     | 0.03%             | 2027-11-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Saks Global Enterprises LLC                                                   | Saks Global Enterprises LLC                                                   | CUSIP: 79380MAB1<br>LEI: 5493007HQSJGRH78Q684 | Long             | DBT              | CORP              | US        |     66180 | PA      | $1240.88      | 0.00%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| CMA CGM S.A.                                                                  | CMA CGM S.A.                                                                  | CUSIP: YK5572341<br>LEI: 969500BZJ49IICIBZZ08 | Long             | DBT              | CORP              | FR        |    150000 | PA      | $162984.29    | 0.49%             | 2032-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MPH Acquisition Holdings LLC                                                  | MPH Acquisition Holdings LLC, Term Loan                                       | CUSIP: 55328HAP6<br>LEI: 5493002WXOPRPTXWTU06 | Long             | LON              | CORP              | US        |     28914 | PA      | $28906.82     | 0.09%             | 2030-12-31      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| Janus Henderson Group PLC                                                     | Janus Henderson Group PLC, Term Loan                                          | CUSIP: 48207CAB9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     78600 | PA      | $78600.00     | 0.24%             | 2032-03-09      | Floating      | 6.42%                 | No            |                  3 | On Loan: No      |
| OneMain Finance Corp.                                                         | OneMain Finance Corp.                                                         | CUSIP: 682691AH3<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     77000 | PA      | $77171.02     | 0.23%             | 2029-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I, L.P.                                                        | Hilcorp Energy I, L.P.                                                        | CUSIP: 431318BE3<br>LEI: 549300ITPIHLG0LHEC09 | Long             | DBT              | CORP              | US        |     79000 | PA      | $77338.64     | 0.23%             | 2034-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Telecom Italia Capital S.A.                                                   | Telecom Italia Capital S.A.                                                   | CUSIP: 87927VAF5<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |     45000 | PA      | $47052.59     | 0.14%             | 2033-11-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Voyager Parent, LLC                                                           | Voyager Parent, LLC                                                           | CUSIP: 92921EAA0<br>LEI: 2549002DYVI4ACSV4V71 | Long             | DBT              | CORP              | US        |     87000 | PA      | $90378.99     | 0.27%             | 2032-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Sinclair Television Group, Inc.                                               | Sinclair Television Group, Inc.                                               | CUSIP: 829259BH2<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15262.50     | 0.05%             | 2033-02-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                                         | OneMain Finance Corp.                                                         | CUSIP: 682691AK6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     56000 | PA      | $55221.96     | 0.17%             | 2032-09-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Studio City Finance Ltd.                                                      | Studio City Finance Ltd.                                                      | CUSIP: 86389QAG7<br>LEI: 254900D6R731QAUIG324 | Long             | DBT              | CORP              | VG        |    148000 | PA      | $138908.87    | 0.42%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust                     | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                     | CUSIP: 00774MBK0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    170000 | PA      | $174086.19    | 0.52%             | 2055-03-10      | Variable      | 6.95%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corp.                                                                | DISH DBS Corp.                                                                | CUSIP: 25470XBB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $97119.65     | 0.29%             | 2028-07-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Univision Communications Inc.                                                 | Univision Communications Inc.                                                 | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |     38000 | PA      | $39191.69     | 0.12%             | 2032-08-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Rocket Cos., Inc.                                                             | Rocket Cos., Inc.                                                             | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $90886.23     | 0.27%             | 2030-08-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Newell Brands Inc.                                                            | Newell Brands Inc.                                                            | CUSIP: 651229BD7<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    102000 | PA      | $99659.52     | 0.30%             | 2029-09-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CCO Holdings, LLC/CCO Holdings Capital Corp.                                  | CCO Holdings, LLC/CCO Holdings Capital Corp.                                  | CUSIP: 1248EPCL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    182000 | PA      | $158582.70    | 0.47%             | 2033-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                                      | Lumen Technologies, Inc.                                                      | CUSIP: 550241103<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | EC               | CORP              | US        |      1000 | NS      | $6950.00      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Treasury Portfolio                                                    | Invesco Treasury Portfolio, Institutional Class                               | CUSIP: 825252406<br>LEI: 5493004B3TM8ZIDDDC39 | Long             | STIV             | RF                | US        |    374488 | NS      | $374487.50    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Midstream Holdings, LLC                                                | Summit Midstream Holdings, LLC                                                | CUSIP: 86614JAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     86000 | PA      | $88503.20     | 0.26%             | 2029-10-31      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Molina Healthcare, Inc.                                                       | Molina Healthcare, Inc.                                                       | CUSIP: 60855RAM2<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48510.53     | 0.15%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Diversified Healthcare Trust                                                  | Diversified Healthcare Trust                                                  | CUSIP: 25525PAE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    138000 | PA      | $139358.33    | 0.42%             | 2030-10-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Jane Street Group / JSG Finance Inc.                                          | Jane Street Group / JSG Finance Inc.                                          | CUSIP: 47077WAD0<br>LEI: 5493002N1IVX6KHGYO08 | Long             | DBT              | CORP              | US        |    130000 | PA      | $128667.98    | 0.39%             | 2032-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| United Airlines Holdings, Inc.                                                | United Airlines Holdings, Inc.                                                | CUSIP: 910047AM1<br>LEI: 98450079DA0B78DD6764 | Long             | DBT              | CORP              | US        |    185000 | PA      | $181407.61    | 0.54%             | 2029-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Six Flags Entertainment Corp.                                                 | Six Flags Entertainment Corp.                                                 | CUSIP: 83001AAD4<br>LEI: 529900AS2CYWYFHRS781 | Long             | DBT              | CORP              | US        |    169000 | PA      | $162901.67    | 0.49%             | 2031-05-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| LCM Investments Holdings II, LLC                                              | LCM Investments Holdings II, LLC                                              | CUSIP: 50190EAC8<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |    132000 | PA      | $137512.98    | 0.41%             | 2031-08-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| N/A                                                                           | Forward Foreign Currency Contract                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-9020.39     | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Caturus Energy, LLC                                                           | Caturus Energy, LLC                                                           | CUSIP: 49446BAA2<br>LEI: 254900LM244SIFQ1QY31 | Long             | DBT              | CORP              | US        |    203000 | PA      | $210782.01    | 0.63%             | 2030-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Iron Mountain Information Management Services, Inc.                           | Iron Mountain Information Management Services, Inc.                           | CUSIP: 46285MAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    178000 | PA      | $168163.90    | 0.50%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISH Network Corp.                                                            | DISH Network Corp.                                                            | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |     51000 | PA      | $52570.29     | 0.16%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                                                    | Cloud Software Group, Inc.                                                    | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |     37000 | PA      | $35121.69     | 0.11%             | 2032-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc.                                                               | Sabre GLBL Inc.                                                               | CUSIP: 78573NAN2<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |     19000 | PA      | $16070.22     | 0.05%             | 2030-03-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Acadia Healthcare Co., Inc.                                                   | Acadia Healthcare Co., Inc.                                                   | CUSIP: 00404AAQ2<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |     85000 | PA      | $87131.33     | 0.26%             | 2033-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos. Inc.                                                       | Bausch Health Cos. Inc.                                                       | CUSIP: 071734AL1<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     19000 | PA      | $11590.00     | 0.03%             | 2031-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CVR Energy, Inc.                                                              | CVR Energy, Inc.                                                              | CUSIP: 12662PAJ7<br>LEI: 529900SOYZIXZBTXB558 | Long             | DBT              | CORP              | US        |     85000 | PA      | $85355.69     | 0.26%             | 2034-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Brazilian Government International Bond                                       | Brazilian Government International Bond                                       | CUSIP: 105756CL2<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    200000 | PA      | $204780.00    | 0.61%             | 2035-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG, LLC                                           | Venture Global Plaquemines LNG, LLC                                           | CUSIP: 922966AE6<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    117000 | PA      | $120390.19    | 0.36%             | 2030-12-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| SV RNO Property Owner 1, LLC                                                  | SV RNO Property Owner 1, LLC                                                  | CUSIP: 78488XAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     83000 | PA      | $82094.27     | 0.25%             | 2031-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Oak-Eagle AcquireCo, Inc.                                                     | Oak-Eagle AcquireCo, Inc.                                                     | CUSIP: 67124CAA1<br>LEI: 6488ICS9P20290MA1H31 | Long             | DBT              | CORP              | US        |     78000 | PA      | $80866.07     | 0.24%             | 2033-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                                      | Lumen Technologies, Inc., Series P                                            | CUSIP: 156700AM8<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4669.48      | 0.01%             | 2039-09-15      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                          | Clear Channel Outdoor Holdings, Inc., Term Loan B                             | CUSIP: 18452RAF2<br>LEI: 254900XBEE6V1ENYS150 | Long             | LON              | CORP              | US        |    461188 | PA      | $463032.27    | 1.39%             | 2028-08-23      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| Jane Street Group / JSG Finance Inc.                                          | Jane Street Group / JSG Finance Inc.                                          | CUSIP: 47077WAE8<br>LEI: 5493002N1IVX6KHGYO08 | Long             | DBT              | CORP              | US        |    117000 | PA      | $118787.53    | 0.36%             | 2033-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG, LLC                                           | Venture Global Plaquemines LNG, LLC                                           | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    106000 | PA      | $112339.01    | 0.34%             | 2036-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Michaels Cos., Inc. (The)                                                     | Michaels Cos., Inc. (The)                                                     | CUSIP: 59408QAA4<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |     28000 | PA      | $26105.31     | 0.08%             | 2034-03-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Nexstar Media Inc.                                                            | Nexstar Media Inc.                                                            | CUSIP: 65346UAA7<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |     51000 | PA      | $51205.87     | 0.15%             | 2034-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Hawaiian Electric Co., Inc.                                                   | Hawaiian Electric Co., Inc.                                                   | CUSIP: 419866AV0<br>LEI: 549300PQE8D806LWQV52 | Long             | DBT              | CORP              | US        |    218000 | PA      | $217868.39    | 0.65%             | 2033-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Advance Auto Parts, Inc.                                                      | Advance Auto Parts, Inc.                                                      | CUSIP: 00751YAK2<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |    171000 | PA      | $173344.72    | 0.52%             | 2030-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Group 1 Automotive, Inc.                                                      | Group 1 Automotive, Inc.                                                      | CUSIP: 398905AQ2<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |    164000 | PA      | $165209.17    | 0.49%             | 2030-01-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Amneal Pharmaceuticals LLC                                                    | Amneal Pharmaceuticals LLC, Term Loan                                         | CUSIP: 03167DAS3<br>LEI: 54930037VIXE7LRZ1M66 | Long             | LON              | CORP              | US        |     47755 | PA      | $47973.97     | 0.14%             | 2032-08-01      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| Osaic Holdings, Inc.                                                          | Osaic Holdings, Inc.                                                          | CUSIP: 00791GAC1<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     69000 | PA      | $68173.19     | 0.20%             | 2033-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| AECOM                                                                         | AECOM                                                                         | CUSIP: 00766TAE0<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |     91000 | PA      | $90984.19     | 0.27%             | 2033-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Directv Financing, LLC                                                        | Directv Financing, LLC                                                        | CUSIP: 254945AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     94000 | PA      | $93908.38     | 0.28%             | 2030-02-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I, L.P.                                                        | Hilcorp Energy I, L.P.                                                        | CUSIP: 431318BG8<br>LEI: 549300ITPIHLG0LHEC09 | Long             | DBT              | CORP              | US        |     37000 | PA      | $36915.81     | 0.11%             | 2035-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Amneal Pharmaceuticals LLC                                                    | Amneal Pharmaceuticals LLC                                                    | CUSIP: 03168LAA3<br>LEI: 54930037VIXE7LRZ1M66 | Long             | DBT              | CORP              | US        |     86000 | PA      | $88640.03     | 0.27%             | 2032-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Flash Compute LLC                                                             | Flash Compute LLC                                                             | CUSIP: 33853QAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     81000 | PA      | $81651.32     | 0.24%             | 2030-12-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Prairie ECI Acquiror L.P.                                                     | Prairie ECI Acquiror L.P., Term Loan                                          | CUSIP: 73955HAG9<br>LEI: 254900Q6KU2LVSIISH22 | Long             | LON              | CORP              | US        |     80464 | PA      | $80766.01     | 0.24%             | 2029-08-01      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| NESCO Holdings II, Inc.                                                       | NESCO Holdings II, Inc.                                                       | CUSIP: 64083YAA9<br>LEI: 254900FAHT0HW9T6L409 | Long             | DBT              | CORP              | US        |     95000 | PA      | $92995.80     | 0.28%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Asurion LLC/ Asurion Co-Issuer Inc.                                           | Asurion LLC/ Asurion Co-Issuer Inc.                                           | CUSIP: 045941AB7<br>LEI: 549300KNQVXGIOXWK278 | Long             | DBT              | CORP              | US        |     99000 | PA      | $96185.67     | 0.29%             | 2034-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Osaic Holdings, Inc.                                                          | Osaic Holdings, Inc.                                                          | CUSIP: 00791GAB3<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     69000 | PA      | $69059.68     | 0.21%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CCO Holdings, LLC/CCO Holdings Capital Corp.                                  | CCO Holdings, LLC/CCO Holdings Capital Corp.                                  | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $166163.23    | 0.50%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                                      | Celanese US Holdings LLC                                                      | CUSIP: 15089QAY0<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     84000 | PA      | $89685.20     | 0.27%             | 2033-11-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| Whirlpool Corp.                                                               | Whirlpool Corp., Series A, Conv. Pfd.                                         | CUSIP: 963320205<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EP               | CORP              | US        |      1152 | NS      | $47174.40     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Roller Bearing Co. of America, Inc.                                           | Roller Bearing Co. of America, Inc.                                           | CUSIP: 775631AD6<br>LEI: 254900U9XW6S76H2P167 | Long             | DBT              | CORP              | US        |    147000 | PA      | $143006.83    | 0.43%             | 2029-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Office Properties Income Trust                                                | Office Properties Income Trust                                                | CUSIP: 67623YAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6912 | PA      | $7093.85      | 0.02%             | 2026-05-04      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Iron Mountain Inc.                                                            | Iron Mountain Inc.                                                            | CUSIP: 46284VAN1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    230000 | PA      | $216094.87    | 0.65%             | 2031-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Cipher Compute LLC                                                            | Cipher Compute LLC                                                            | CUSIP: 17253NAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    142000 | PA      | $147293.62    | 0.44%             | 2030-11-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Infinity Natural Resources, LLC                                               | Infinity Natural Resources, LLC                                               | CUSIP: 45690BAA3<br>LEI: 54930021094IFVB5ND43 | Long             | DBT              | CORP              | US        |    173000 | PA      | $174021.57    | 0.52%             | 2031-04-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Comstock Resources, Inc.                                                      | Comstock Resources, Inc.                                                      | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |     89000 | PA      | $87916.67     | 0.26%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Melco Resorts Finance Ltd.                                                    | Melco Resorts Finance Ltd.                                                    | CUSIP: 58547DAJ8<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    127000 | PA      | $122006.45    | 0.37%             | 2033-09-24      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AP Grange Holdings, LLC                                                       | AP Grange Holdings, LLC                                                       | CUSIP: 00187RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    136000 | PA      | $143650.00    | 0.43%             | 2045-03-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Versant Media Group, Inc.                                                     | Versant Media Group, Inc.                                                     | CUSIP: 925283AA1<br>LEI: 254900D2Q5F5F229PU30 | Long             | DBT              | CORP              | US        |    240000 | PA      | $245813.04    | 0.74%             | 2031-01-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| Casino Guichard-Perrachon                                                     | Casino Guichard-Perrachon                                                     | CUSIP: F1R01P205<br>LEI: 969500VHL8F83GBL6L29 | Long             | EC               | CORP              | FR        |      3370 | NS      | $629.90       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Wrangler Holdco Corp.                                                         | Wrangler Holdco Corp.                                                         | CUSIP: 37441QAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     96000 | PA      | $98916.12     | 0.30%             | 2032-04-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Clarivate Science Holdings Corp.                                              | Clarivate Science Holdings Corp.                                              | CUSIP: 18064PAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    103000 | PA      | $89497.84     | 0.27%             | 2029-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Michaels Cos., Inc. (The)                                                     | Michaels Cos., Inc. (The)                                                     | CUSIP: 59408QAB2<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |    138000 | PA      | $134487.76    | 0.40%             | 2033-03-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Sinclair Television Group, Inc.                                               | Sinclair Television Group, Inc.                                               | CUSIP: 829259AY6<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |      7000 | PA      | $6072.50      | 0.02%             | 2030-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Brundage-Bone Concrete Pumping Holdings, Inc.                                 | Brundage-Bone Concrete Pumping Holdings, Inc.                                 | CUSIP: 66981QAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    160000 | PA      | $161815.52    | 0.48%             | 2032-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Bristow Group Inc.                                                            | Bristow Group Inc.                                                            | CUSIP: 11040GAB9<br>LEI: 5493005Q24EN3UC1PV68 | Long             | DBT              | CORP              | US        |    156000 | PA      | $157786.51    | 0.47%             | 2033-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Americanas S.A.                                                               | Americanas S.A.                                                               | CUSIP: P19055113<br>LEI: 254900SPM3RE7352ST93 | Long             | EC               | CORP              | BR        |      7833 | NS      | $7832.90      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| EnPro Inc.                                                                    | EnPro Inc.                                                                    | CUSIP: 29355XAH0<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152094.90    | 0.46%             | 2033-06-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Gray Media, Inc.                                                              | Gray Media, Inc.                                                              | CUSIP: 389375AN6<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     32000 | PA      | $32027.73     | 0.10%             | 2032-07-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                                      | Lumen Technologies, Inc.                                                      | CUSIP: 156700BD7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4709.65      | 0.01%             | 2029-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Genesis Energy L.P. / Genesis Energy Finance Corp.                            | Genesis Energy L.P. / Genesis Energy Finance Corp.                            | CUSIP: 37185LAN2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     96000 | PA      | $100304.26    | 0.30%             | 2030-04-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Studio City Finance Ltd.                                                      | Studio City Finance Ltd.                                                      | CUSIP: 86389QAF9<br>LEI: 254900D6R731QAUIG324 | Long             | DBT              | CORP              | VG        |     39000 | PA      | $38588.34     | 0.12%             | 2028-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                | CUSIP: 01883LAF0<br>LEI: 5493006Q26653NF8SI73 | Long             | DBT              | CORP              | US        |     90000 | PA      | $90811.99     | 0.27%             | 2031-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| VCI COMPUTE II LLC                                                            | VCI COMPUTE II LLC                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     25000 | NS      | $25000.00     | 0.07%             |  |  |  | No            |                  3 | On Loan: No      |
| TransDigm, Inc.                                                               | TransDigm, Inc., Term Loan L                                                  | CUSIP: 89364MCD4<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    385646 | PA      | $386056.50    | 1.16%             | 2032-01-19      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Lithia Motors, Inc.                                                           | Lithia Motors, Inc.                                                           | CUSIP: 536797AF0<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    156000 | PA      | $146718.22    | 0.44%             | 2031-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| FMC Corp.                                                                     | FMC Corp.                                                                     | CUSIP: 302491AU9<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | DBT              | CORP              | US        |     40000 | PA      | $35768.00     | 0.11%             | 2029-10-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Uniti Services LLC                                                            | Uniti Services LLC                                                            | CUSIP: 97382BAB5<br>LEI: 549300KT9GVEBYCD2N29 | Long             | DBT              | CORP              | US        |    322000 | PA      | $334998.06    | 1.00%             | 2033-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Azorra Finance Ltd.                                                           | Azorra Finance Ltd.                                                           | CUSIP: 05480AAC9<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |     87000 | PA      | $80961.41     | 0.24%             | 2034-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Walker & Dunlop, Inc.                                                         | Walker & Dunlop, Inc.                                                         | CUSIP: 93148PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     86000 | PA      | $84150.20     | 0.25%             | 2033-04-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                                       | Level 3 Financing, Inc.                                                       | CUSIP: 527298CN1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    123667 | PA      | $126676.55    | 0.38%             | 2034-03-31      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Sunoco L.P.                                                                   | Sunoco L.P.                                                                   | CUSIP: 86765KAG4<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    151000 | PA      | $149439.25    | 0.45%             | 2034-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MPT Operating Partnership L.P./ MPT Finance Corp.                             | MPT Operating Partnership L.P./ MPT Finance Corp.                             | CUSIP: 55342UAJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     13000 | PA      | $10123.75     | 0.03%             | 2029-08-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Viking Cruises Ltd.                                                           | Viking Cruises Ltd.                                                           | CUSIP: 92676XAH0<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    160000 | PA      | $158084.29    | 0.47%             | 2033-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works, Inc.                                                       | Bath & Body Works, Inc.                                                       | CUSIP: 501797AL8<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    162000 | PA      | $159541.12    | 0.48%             | 2035-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| N/A                                                                           | Americanas S.A., Wrts. 2027-03-16                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |      2611 | NS      | $1512.14      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Bread Financial Holdings, Inc.                                                | Bread Financial Holdings, Inc.                                                | CUSIP: 018581AQ1<br>LEI: 549300G8S4PO686J7H97 | Long             | DBT              | CORP              | US        |     77000 | PA      | $77909.06     | 0.23%             | 2035-06-15      | Variable      | 8.38%                 | No            |                  2 | On Loan: No      |
| EchoStar Corp.                                                                | EchoStar Corp.                                                                | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    280961 | PA      | $284053.82    | 0.85%             | 2030-11-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings, Inc.                                         | Clydesdale Acquisition Holdings, Inc.                                         | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |     88000 | PA      | $83365.36     | 0.25%             | 2032-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                                                 | Freedom Mortgage Holdings LLC                                                 | CUSIP: 35641AAC2<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |     37000 | PA      | $36434.98     | 0.11%             | 2032-04-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| California Buyer Ltd. / Atlantica Sustainable Infrastructure PLC              | California Buyer Ltd. / Atlantica Sustainable Infrastructure PLC              | CUSIP: 13005HAA8<br>LEI: 549300ITBBGKJ651R879 | Long             | DBT              | CORP              | GB        |    419000 | PA      | $409645.57    | 1.23%             | 2032-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Codere Online Luxembourg, S.A.                                                | Codere Online Luxembourg, S.A.                                                | CUSIP: N/A<br>LEI: 222100ZJU57ZQLLYNO89       | N/A              | DE               | CORP              | LU        |         3 | NS      | $1.73         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| CVR Energy, Inc.                                                              | CVR Energy, Inc.                                                              | CUSIP: 12662PAH1<br>LEI: 529900SOYZIXZBTXB558 | Long             | DBT              | CORP              | US        |     85000 | PA      | $85706.95     | 0.26%             | 2031-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Excelerate Energy L.P.                                                        | Excelerate Energy L.P.                                                        | CUSIP: 30069UAA6<br>LEI: LGL4IE90TNTFYJ55BK06 | Long             | DBT              | CORP              | US        |     87000 | PA      | $91112.58     | 0.27%             | 2030-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Provident Funding Associates L.P./ PFG Finance Corp.                          | Provident Funding Associates L.P./ PFG Finance Corp.                          | CUSIP: 74387UAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    205000 | PA      | $210655.35    | 0.63%             | 2029-09-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                                      | Celanese US Holdings LLC                                                      | CUSIP: 15089QBD5<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     38000 | PA      | $38964.78     | 0.12%             | 2034-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| PHINIA Inc.                                                                   | PHINIA Inc.                                                                   | CUSIP: 71880KAB7<br>LEI: 254900HG6MORZE1FFM18 | Long             | DBT              | CORP              | US        |    157000 | PA      | $159911.72    | 0.48%             | 2032-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                                      | Venture Global LNG, Inc.                                                      | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    291500 | PA      | $290576.29    | 0.87%             | N/A             | Variable      | 9.00%                 | No            |                  2 | On Loan: No      |
| Calumet Specialty Products Partners L.P./ Calumet Finance Corp.               | Calumet Specialty Products Partners L.P./ Calumet Finance Corp.               | CUSIP: 131477BA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    236000 | PA      | $250858.78    | 0.75%             | 2031-02-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| First Quantum Minerals Ltd.                                                   | First Quantum Minerals Ltd.                                                   | CUSIP: 335934AU9<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |     59000 | PA      | $61247.55     | 0.18%             | 2031-06-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Sensata Technologies, Inc.                                                    | Sensata Technologies, Inc.                                                    | CUSIP: 81728UAC8<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |     72000 | PA      | $73490.69     | 0.22%             | 2032-07-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Gray Media, Inc.                                                              | Gray Media, Inc.                                                              | CUSIP: 389286AA3<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     17000 | PA      | $12636.87     | 0.04%             | 2031-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| GGAM Finance Ltd.                                                             | GGAM Finance Ltd.                                                             | CUSIP: 36170JAE6<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |    240000 | PA      | $239722.79    | 0.72%             | 2030-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Beignet Investor LLC                                                          | Beignet Investor LLC                                                          | CUSIP: 076912AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    147000 | PA      | $151252.78    | 0.45%             | 2049-05-30      | Fixed         | 6.58%                 | No            |                  2 | On Loan: No      |
| Getty Images, Inc.                                                            | Getty Images, Inc.                                                            | CUSIP: 374276AR4<br>LEI: 5493005NV20IG4VEKZ40 | Long             | DBT              | CORP              | US        |    176000 | PA      | $158009.17    | 0.47%             | 2030-11-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| GFL Environmental Holdings (US), Inc.                                         | GFL Environmental Holdings (US), Inc.                                         | CUSIP: 36273TAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    115000 | PA      | $112935.28    | 0.34%             | 2034-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                                       | Level 3 Financing, Inc.                                                       | CUSIP: 527298CQ4<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     62000 | PA      | $64750.43     | 0.19%             | 2036-01-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Northriver Midstream Finance L.P.                                             | Northriver Midstream Finance L.P.                                             | CUSIP: 66679NAB6<br>LEI: 549300SOLNLY3BL6GF18 | Long             | DBT              | CORP              | CA        |     86000 | PA      | $86313.56     | 0.26%             | 2032-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corp.                                                                | DISH DBS Corp.                                                                | CUSIP: 25470XBD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    118000 | PA      | $105581.30    | 0.32%             | 2029-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CSC Holdings, LLC                                                             | CSC Holdings, LLC, Term Loan                                                  | CUSIP: 64072UAK8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |     42618 | PA      | $37663.37     | 0.11%             | 2027-04-15      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| APLD ComputeCo 2 LLC                                                          | APLD ComputeCo 2 LLC                                                          | CUSIP: 03772CAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     84000 | PA      | $83440.48     | 0.25%             | 2031-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CoreWeave, Inc.                                                               | CoreWeave, Inc.                                                               | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |     45000 | PA      | $43767.65     | 0.13%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| FirstCash, Inc.                                                               | FirstCash, Inc.                                                               | CUSIP: 33767DAD7<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |    158000 | PA      | $161233.94    | 0.48%             | 2032-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                                                    | Cloud Software Group, Inc.                                                    | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    176000 | PA      | $169950.63    | 0.51%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos. Inc.                                                       | Bausch Health Cos. Inc.                                                       | CUSIP: 071734AM9<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     17000 | PA      | $12400.99     | 0.04%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Iliad Holding                                                                 | Iliad Holding                                                                 | CUSIP: 449691AF1<br>LEI: 9695009BGMXB527HV965 | Long             | DBT              | CORP              | FR        |    179000 | PA      | $187440.39    | 0.56%             | 2031-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Invesco Private Prime Fund                                                    | Invesco Private Prime Fund                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |    655872 | NS      | $655937.59    | 1.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Discovery Global Holdings, Inc.                                               | Discovery Global Holdings, Inc.                                               | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    159000 | PA      | $105147.61    | 0.31%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CCO Holdings, LLC/CCO Holdings Capital Corp.                                  | CCO Holdings, LLC/CCO Holdings Capital Corp.                                  | CUSIP: 1248EPCS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    146000 | PA      | $146541.51    | 0.44%             | 2029-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                                      | Venture Global LNG, Inc.                                                      | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    305000 | PA      | $327715.79    | 0.98%             | 2032-02-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: —       |
| Level 3 Financing, Inc.                                                       | Level 3 Financing, Inc.                                                       | CUSIP: 527298BS1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5640.00      | 0.02%             | 2029-01-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| EchoStar Corp.                                                                | EchoStar Corp.                                                                | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |     50000 | PA      | $54043.29     | 0.16%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| DaVita Inc.                                                                   | DaVita Inc.                                                                   | CUSIP: 23918KAW8<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |     43000 | PA      | $44087.98     | 0.13%             | 2032-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Sunoco L.P.                                                                   | Sunoco L.P.                                                                   | CUSIP: 86765KAD1<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110566.72    | 0.33%             | 2033-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| N/A                                                                           | Forward Foreign Currency Contract                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $863.56       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DaVita Inc.                                                                   | DaVita Inc.                                                                   | CUSIP: 23918KAY4<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |     45000 | PA      | $45815.31     | 0.14%             | 2033-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Vodafone Group PLC                                                            | Vodafone Group PLC                                                            | CUSIP: 92857WBW9<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    311000 | PA      | $284767.74    | 0.85%             | 2081-06-04      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos. Inc.                                                       | Bausch Health Cos. Inc.                                                       | CUSIP: 071734AJ6<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     26000 | PA      | $16826.16     | 0.05%             | 2030-01-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I, L.P.                                                        | Hilcorp Energy I, L.P.                                                        | CUSIP: 431318AZ7<br>LEI: 549300ITPIHLG0LHEC09 | Long             | DBT              | CORP              | US        |    147000 | PA      | $142375.16    | 0.43%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| First Quantum Minerals Ltd.                                                   | First Quantum Minerals Ltd.                                                   | CUSIP: 335934AW5<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |     55000 | PA      | $57398.17     | 0.17%             | 2033-03-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Altice France                                                                 | Altice France                                                                 | CUSIP: 02090DAE8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    220842 | PA      | $209453.94    | 0.63%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Atos SE                                                                       | Atos SE                                                                       | CUSIP: YT9915620<br>LEI: 5493001EZOOA66PTBR68 | Long             | DBT              | CORP              | FR        |    125000 | PA      | $136647.31    | 0.41%             | 2030-12-18      | Variable      | 5.20%                 | No            |                  2 | On Loan: No      |
| Tidewater Inc.                                                                | Tidewater Inc.                                                                | CUSIP: 88642RAE9<br>LEI: 2549000JA5GRUPLMUH98 | Long             | DBT              | CORP              | US        |    194000 | PA      | $206839.31    | 0.62%             | 2030-07-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| Diversified Healthcare Trust                                                  | Diversified Healthcare Trust                                                  | CUSIP: 25525PAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     24000 | PA      | $21353.39     | 0.06%             | 2031-03-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Discovery Global Holdings, Inc.                                               | Discovery Global Holdings, Inc.                                               | CUSIP: 55903VBU6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     39000 | PA      | $23741.25     | 0.07%             | 2052-03-15      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc.                                                               | Sabre GLBL Inc.                                                               | CUSIP: 78573NAL6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |     18000 | PA      | $15390.00     | 0.05%             | 2029-11-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Jane Street Group / JSG Finance Inc.                                          | Jane Street Group / JSG Finance Inc.                                          | CUSIP: 47077WAA6<br>LEI: 5493002N1IVX6KHGYO08 | Long             | DBT              | CORP              | US        |     96000 | PA      | $93109.24     | 0.28%             | 2029-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| VCI Asset Holdings 2, LLC                                                     | VCI Asset Holdings 2, LLC, Term Loan                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    235000 | PA      | $242050.00    | 0.72%             | 2031-02-06      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital, LLC                                              | Velocity Commercial Capital, LLC                                              | CUSIP: 92259RAE5<br>LEI: 549300TA4MQM8WN2XG31 | Long             | DBT              | CORP              | US        |    170000 | PA      | $170088.81    | 0.51%             | 2031-02-15      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Global Aircraft Leasing Co., Ltd.                                             | Global Aircraft Leasing Co., Ltd.                                             | CUSIP: 37960JAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    236000 | PA      | $239726.44    | 0.72%             | 2027-09-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| AP Grange Holdings, LLC                                                       | AP Grange Holdings, LLC                                                       | CUSIP: 00187RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     11410 | PA      | $11409.65     | 0.03%             | 2045-03-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG, LLC                                           | Venture Global Plaquemines LNG, LLC                                           | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    107000 | PA      | $111609.48    | 0.33%             | 2034-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| New Enterprise Stone & Lime Co, Inc.                                          | New Enterprise Stone & Lime Co, Inc.                                          | CUSIP: 644274AH5<br>LEI: 549300O5DQ5Y61B8VF38 | Long             | DBT              | CORP              | US        |     90000 | PA      | $88738.19     | 0.27%             | 2028-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Directv Financing LLC / Directv Financing Co-Obligor Inc.                     | Directv Financing LLC / Directv Financing Co-Obligor Inc.                     | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     92000 | PA      | $93988.97     | 0.28%             | 2031-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Genesis Energy L.P./ Genesis Energy Finance Corp.                             | Genesis Energy L.P./ Genesis Energy Finance Corp.                             | CUSIP: 37185LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    104000 | PA      | $107532.05    | 0.32%             | 2033-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                           | Petroleos Mexicanos                                                           | CUSIP: 706451BG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     49000 | PA      | $45702.76     | 0.14%             | 2035-06-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Forvia SE                                                                     | Forvia SE                                                                     | CUSIP: 31209DAA3<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |    122000 | PA      | $126119.21    | 0.38%             | 2030-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Sunoco L.P.                                                                   | Sunoco L.P.                                                                   | CUSIP: 86765KAF6<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     87000 | PA      | $86662.29     | 0.26%             | 2031-03-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Vistra Corp.                                                                  | Vistra Corp.                                                                  | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |     46000 | PA      | $46515.89     | 0.14%             | N/A             | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| Carvana Co.                                                                   | Carvana Co.                                                                   | CUSIP: 146869AM4<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    148422 | PA      | $160592.46    | 0.48%             | 2031-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| HUB International Ltd.                                                        | HUB International Ltd.                                                        | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    160000 | PA      | $163996.64    | 0.49%             | 2030-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MPT Operating Partnership L.P./ MPT Finance Corp.                             | MPT Operating Partnership L.P./ MPT Finance Corp.                             | CUSIP: 55342UAM6<br>LEI: WUQXXXF7PXTUPGROE843 | Long             | DBT              | CORP              | US        |     16000 | PA      | $10472.00     | 0.03%             | 2031-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Global Partners L.P./ GLP Finance Corp.                                       | Global Partners L.P./ GLP Finance Corp.                                       | CUSIP: 37954FAL8<br>LEI: 549300PCHWTW9P4DU444 | Long             | DBT              | CORP              | US        |     93000 | PA      | $93817.75     | 0.28%             | 2033-07-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| LBM Acquisition, LLC                                                          | LBM Acquisition, LLC                                                          | CUSIP: 05552BAA4<br>LEI: 549300FAEB3VWZL4NI86 | Long             | DBT              | CORP              | US        |     11000 | PA      | $8051.69      | 0.02%             | 2029-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| N/A                                                                           | Intercontinental Exchange, Inc.                                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | N/A       |         1 | NC      | $80364.72     | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                                                    | iHeartCommunications, Inc.                                                    | CUSIP: 45174HBJ5<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |     53000 | PA      | $48182.57     | 0.14%             | 2029-05-01      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| EMRLD Borrower L.P./ Emerald Co-Issuer Inc.                                   | EMRLD Borrower L.P./ Emerald Co-Issuer Inc.                                   | CUSIP: 26873CAB8<br>LEI: 5493000GJYE7GAQCUC61 | Long             | DBT              | CORP              | US        |     96000 | PA      | $98805.22     | 0.30%             | 2031-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Opal Bidco SAS                                                                | Opal Bidco SAS                                                                | CUSIP: 68348BAA1<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |    101000 | PA      | $101158.47    | 0.30%             | 2032-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Univision Communications Inc.                                                 | Univision Communications Inc.                                                 | CUSIP: 914906AY8<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |     51000 | PA      | $51793.15     | 0.16%             | 2028-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Clarios Global L.P./ Clarios US Finance Co.                                   | Clarios Global L.P./ Clarios US Finance Co.                                   | CUSIP: YN0904808<br>LEI: 549300474L1ZLXZY2P98 | Long             | DBT              | CORP              | US        |    150000 | PA      | $170662.31    | 0.51%             | 2031-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Allison Transmission, Inc.                                                    | Allison Transmission, Inc.                                                    | CUSIP: 019736AH0<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |     71000 | PA      | $70603.42     | 0.21%             | 2033-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Staples, Inc.                                                                 | Staples, Inc.                                                                 | CUSIP: 855030AS1<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |      6000 | PA      | $4060.44      | 0.01%             | 2030-01-15      | Fixed         | 12.75%                | No            |                  2 | On Loan: No      |
| Sunoco L.P.                                                                   | Sunoco L.P.                                                                   | CUSIP: 86765KAE9<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     79000 | PA      | $80721.09     | 0.24%             | N/A             | Variable      | 7.88%                 | No            |                  2 | On Loan: No      |
| Great Lakes Dredge & Dock Corp.                                               | Great Lakes Dredge & Dock Corp.                                               | CUSIP: 390607AF6<br>LEI: 549300H65E3MZ1CX0P05 | Long             | DBT              | CORP              | US        |     91000 | PA      | $91392.79     | 0.27%             | 2029-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Iliad Holding                                                                 | Iliad Holding                                                                 | CUSIP: 449691AG9<br>LEI: 9695009BGMXB527HV965 | Long             | DBT              | CORP              | FR        |    253000 | PA      | $253619.34    | 0.76%             | 2032-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Phoenix Aviation Capital Ltd.                                                 | Phoenix Aviation Capital Ltd.                                                 | CUSIP: 71910DAA9<br>LEI: 8945008YQAKXZQ3VYJ15 | Long             | DBT              | CORP              | IE        |     38000 | PA      | $38279.49     | 0.11%             | 2030-07-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Oak-Eagle AcquireCo, Inc.                                                     | Oak-Eagle AcquireCo, Inc.                                                     | CUSIP: 67124CAB9<br>LEI: 6488ICS9P20290MA1H31 | Long             | DBT              | CORP              | US        |    170000 | PA      | $178082.93    | 0.53%             | 2034-07-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Invesco Government & Agency Portfolio                                         | Invesco Government & Agency Portfolio, Institutional Class                    | CUSIP: 825252885<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |    201647 | NS      | $201647.13    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| ESAB Corp.                                                                    | ESAB Corp.                                                                    | CUSIP: 29605JAA4<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | DBT              | CORP              | US        |    138000 | PA      | $140228.56    | 0.42%             | 2029-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| EZCORP, Inc.                                                                  | EZCORP, Inc.                                                                  | CUSIP: 302301AJ5<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | DBT              | CORP              | US        |    321000 | PA      | $336123.59    | 1.01%             | 2032-04-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Genesis Energy L.P./ Genesis Energy Finance Corp.                             | Genesis Energy L.P./ Genesis Energy Finance Corp.                             | CUSIP: 37185LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    124000 | PA      | $127604.68    | 0.38%             | 2032-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CCO Holdings, LLC/CCO Holdings Capital Corp.                                  | CCO Holdings, LLC/CCO Holdings Capital Corp.                                  | CUSIP: 1248EPCQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    117000 | PA      | $105880.55    | 0.32%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Prairie Acquiror L.P.                                                         | Prairie Acquiror L.P.                                                         | CUSIP: 73943NAA4<br>LEI: 254900Q6KU2LVSIISH22 | Long             | DBT              | CORP              | US        |     57000 | PA      | $59084.83     | 0.18%             | 2029-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Fibercop S.p.A.                                                               | Fibercop S.p.A.                                                               | CUSIP: 683879AF7<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |     63000 | PA      | $62702.01     | 0.19%             | 2036-07-18      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| New Gold Inc.                                                                 | New Gold Inc.                                                                 | CUSIP: 644535AJ5<br>LEI: 5493005G0GNCHP0H6L96 | Long             | DBT              | CORP              | CA        |    325000 | PA      | $336156.60    | 1.01%             | 2032-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Vistra Corp.                                                                  | Vistra Corp., Series C                                                        | CUSIP: 92840MAD4<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |    190000 | PA      | $204958.89    | 0.61%             | N/A             | Variable      | 8.88%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                           | Petroleos Mexicanos                                                           | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    131000 | PA      | $125347.09    | 0.38%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Newell Brands Inc.                                                            | Newell Brands Inc.                                                            | CUSIP: 651229BF2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     63000 | PA      | $60524.70     | 0.18%             | 2030-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| Level 3 Financing, Inc.                                                       | Level 3 Financing, Inc.                                                       | CUSIP: 527298BT9<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9312.50      | 0.03%             | 2029-07-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Genesis Energy L.P./ Genesis Energy Finance Corp.                             | Genesis Energy L.P./ Genesis Energy Finance Corp.                             | CUSIP: 37185LAS1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     93000 | PA      | $92624.34     | 0.28%             | 2034-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| USI, Inc.                                                                     | USI, Inc.                                                                     | CUSIP: 90346KAB5<br>LEI: 2549006D7UF7072T7I27 | Long             | DBT              | CORP              | US        |     43000 | PA      | $43619.59     | 0.13%             | 2032-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| McAfee Corp.                                                                  | McAfee Corp.                                                                  | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |     38000 | PA      | $31436.88     | 0.09%             | 2030-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| N/A                                                                           | Forward Foreign Currency Contract                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $35675.70     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems, Inc.                                            | CHS/Community Health Systems, Inc.                                            | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    130000 | PA      | $119921.59    | 0.36%             | 2031-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CSC Holdings, LLC                                                             | CSC Holdings, LLC                                                             | CUSIP: 126307BH9<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    370000 | PA      | $219927.48    | 0.66%             | 2031-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                               | TransDigm, Inc.                                                               | CUSIP: 893647BZ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    164000 | PA      | $165943.56    | 0.50%             | 2034-01-31      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Navient Corp.                                                                 | Navient Corp.                                                                 | CUSIP: 63938CAQ1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    111000 | PA      | $99100.53     | 0.30%             | 2032-06-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Invesco Private Government Fund                                               | Invesco Private Government Fund                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |    252396 | NS      | $252395.86    | 0.76%             |  |  |  | No            |                  2 | On Loan: No      |
| BondBloxx CCC-Rated USD High Yield Corporate Bond ETF                         | BondBloxx CCC-Rated USD High Yield Corporate Bond ETF                         | CUSIP: 09789C887<br>LEI: N/A                  | Long             | EC               | RF                | US        |      6000 | NS      | $218400.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| FMC Corp.                                                                     | FMC Corp.                                                                     | CUSIP: 302491AX3<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | DBT              | CORP              | US        |     40000 | PA      | $35435.66     | 0.11%             | 2033-05-18      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| 1261229 B.C. Ltd.                                                             | 1261229 B.C. Ltd.                                                             | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    360000 | PA      | $368888.04    | 1.10%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| TrueNoord Capital DAC                                                         | TrueNoord Capital DAC                                                         | CUSIP: 89785GAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    326000 | PA      | $333105.50    | 1.00%             | 2030-03-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Danaos Corp.                                                                  | Danaos Corp.                                                                  | CUSIP: 23585WAC8<br>LEI: 734IM3DNDNT36T7YTD24 | Long             | DBT              | CORP              | MH        |    124000 | PA      | $126102.17    | 0.38%             | 2032-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| E.W. Scripps Co. (The)                                                        | E.W. Scripps Co. (The)                                                        | CUSIP: 811054AH8<br>LEI: 549300U1OW41QPKYW028 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14576.14     | 0.04%             | 2030-08-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                | Citigroup Inc.                                                                | CUSIP: 172967QJ3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    169000 | PA      | $169241.71    | 0.51%             | N/A             | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| JELD-WEN, Inc.                                                                | JELD-WEN, Inc.                                                                | CUSIP: 475795AD2<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |      6000 | PA      | $4076.35      | 0.01%             | 2027-12-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Bausch and Lomb, Inc.                                                         | Bausch and Lomb, Inc., Term Loan                                              | CUSIP: C0787FAL6<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |    197628 | PA      | $198308.29    | 0.59%             | 2031-01-30      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| Office Properties Income Trust                                                | Office Properties Income Trust                                                | CUSIP: 67623CAK5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    141000 | PA      | $100110.00    | 0.30%             | 2059-12-31      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Endo Luxembourg Finance Co. I S.a.r.l.                                        | Endo Luxembourg Finance Co. I S.a.r.l., Term Loan B                           | CUSIP: 29280UAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    111919 | PA      | $111499.52    | 0.33%             | 2031-04-23      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| MPH Acquisition Holdings LLC                                                  | MPH Acquisition Holdings LLC                                                  | CUSIP: 553283AF9<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |     70172 | PA      | $63500.94     | 0.19%             | 2030-12-31      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| ESAB Corp.                                                                    | ESAB Corp.                                                                    | CUSIP: 29605JAB2<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | DBT              | CORP              | US        |    192000 | PA      | $193825.92    | 0.58%             | 2031-04-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| JELD-WEN Holding, Inc.                                                        | JELD-WEN Holding, Inc.                                                        | CUSIP: 47580PAA1<br>LEI: 529900AXX7CT9GZSCS30 | Long             | DBT              | CORP              | US        |     10000 | PA      | $4712.14      | 0.01%             | 2032-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Transocean International Ltd.                                                 | Transocean International Ltd.                                                 | CUSIP: 893814AA1<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |    257000 | PA      | $274781.83    | 0.82%             | 2032-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| SGUS LLC                                                                      | SGUS LLC                                                                      | CUSIP: 81880AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     29820 | PA      | $3280.20      | 0.01%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Hilcorp Energy I, L.P.                                                        | Hilcorp Energy I, L.P.                                                        | CUSIP: 431318BC7<br>LEI: 549300ITPIHLG0LHEC09 | Long             | DBT              | CORP              | US        |     78000 | PA      | $81438.01     | 0.24%             | 2033-11-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| American Airlines Inc./AAdvantage Loyalty IP Ltd.                             | American Airlines Inc./AAdvantage Loyalty IP Ltd.                             | CUSIP: 00253XAB7<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |    166000 | PA      | $165198.27    | 0.49%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CoreWeave, Inc.                                                               | CoreWeave, Inc.                                                               | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |     40000 | PA      | $38110.76     | 0.11%             | 2031-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                                         | OneMain Finance Corp.                                                         | CUSIP: 682691AA8<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |      1000 | PA      | $903.82       | 0.00%             | 2030-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Altice France                                                                 | Altice France                                                                 | CUSIP: 929YHW907<br>LEI: 5493001ZMCICV4N02J21 | Long             | EC               | CORP              | FR        |      5719 | NS      | $97336.78     | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Altice France Lux 3 / Altice Holdings 1                                       | Altice France Lux 3 / Altice Holdings 1                                       | CUSIP: 020956AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    106000 | PA      | $96458.72     | 0.29%             | 2033-01-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| FMC Corp.                                                                     | FMC Corp.                                                                     | CUSIP: 302491AY1<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | DBT              | CORP              | US        |     23000 | PA      | $17358.21     | 0.05%             | 2053-05-18      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Telecom Italia Capital S.A.                                                   | Telecom Italia Capital S.A.                                                   | CUSIP: 87927VAV0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |     40000 | PA      | $44596.28     | 0.13%             | 2038-06-04      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| PetSmart LLC / PetSmart Finance Corp.                                         | PetSmart LLC / PetSmart Finance Corp.                                         | CUSIP: 71677KAD0<br>LEI: 894500NGJMHSFNESGA67 | Long             | DBT              | CORP              | US        |    313000 | PA      | $312633.23    | 0.94%             | 2033-09-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Nationstar Mortgage Holdings Inc.                                             | Nationstar Mortgage Holdings Inc.                                             | CUSIP: 63861CAF6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165000 | PA      | $167475.00    | 0.50%             | 2032-02-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III B.V.                              | Teva Pharmaceutical Finance Netherlands III B.V.                              | CUSIP: 88167AAF8<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    190000 | PA      | $141074.26    | 0.42%             | 2046-10-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Nexstar Media Inc.                                                            | Nexstar Media Inc.                                                            | CUSIP: 65346UAB5<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |     85000 | PA      | $85699.04     | 0.26%             | 2033-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Transocean International Ltd.                                                 | Transocean International Ltd.                                                 | CUSIP: 893830AT6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |     68000 | PA      | $65374.72     | 0.20%             | 2038-03-15      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                                       | Level 3 Financing, Inc.                                                       | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    139000 | PA      | $141656.45    | 0.42%             | 2033-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC | CUSIP: 44287DAA1<br>LEI: 875500O63ODR8S3K5X33 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $187572.96    | 0.56%             | 2032-02-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Air Lease Corp.                                                               | Air Lease Corp., Series B                                                     | CUSIP: 00912XBJ2<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    168000 | PA      | $167694.51    | 0.50%             | N/A             | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| N/A                                                                           | Casino Guichard-Perrachon, Wrts. 2029-04-27                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |    184690 | NS      | $106.74       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CHC Group LLC                                                                 | CHC Group LLC                                                                 | CUSIP: 12550EAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    162000 | PA      | $157842.14    | 0.47%             | 2030-09-01      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings, Inc.                                         | Clydesdale Acquisition Holdings, Inc.                                         | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    179000 | PA      | $167177.75    | 0.50%             | 2030-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| SS&C Technologies, Inc.                                                       | SS&C Technologies, Inc.                                                       | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |     92000 | PA      | $92130.92     | 0.28%             | 2027-09-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PennyMac Financial Services, Inc.                                             | PennyMac Financial Services, Inc.                                             | CUSIP: 70932MAB3<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47420.63     | 0.14%             | 2029-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HA Sustainable Infrastructure Capital, Inc.                                   | HA Sustainable Infrastructure Capital, Inc.                                   | CUSIP: 41068XAG5<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |    143000 | PA      | $148013.87    | 0.44%             | 2056-06-01      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| Staples, Inc.                                                                 | Staples, Inc.                                                                 | CUSIP: 855030AQ5<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |     18000 | PA      | $16660.61     | 0.05%             | 2029-09-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Cerdia Finanz GmbH                                                            | Cerdia Finanz GmbH                                                            | CUSIP: 15679GAC6<br>LEI: 391200KURNDJSX9GX570 | Long             | DBT              | CORP              | DE        |    112000 | PA      | $111499.36    | 0.33%             | 2031-10-03      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Greystar Real Estate Partners, LLC                                            | Greystar Real Estate Partners, LLC, Term Loan                                 | CUSIP: 39806LAJ6<br>LEI: 254900HGC806SXAS4M46 | Long             | LON              | CORP              | US        |    177456 | PA      | $177900.09    | 0.53%             | 2030-08-21      | Floating      | 6.17%                 | No            |                  3 | On Loan: No      |
| Cushman & Wakefield US Borrower LLC                                           | Cushman & Wakefield US Borrower LLC, Term Loan                                | CUSIP: 23340DAW2<br>LEI: 549300870CMN3WI5IF97 | Long             | LON              | CORP              | US        |    562080 | PA      | $564890.40    | 1.69%             | 2030-01-31      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| Marriott Ownership Resorts, Inc.                                              | Marriott Ownership Resorts, Inc.                                              | CUSIP: 57164PAK2<br>LEI: BW4532OH033VURR0IT68 | Long             | DBT              | CORP              | US        |    180000 | PA      | $171318.31    | 0.51%             | 2033-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Asurion LLC/ Asurion Co-Issuer Inc.                                           | Asurion LLC/ Asurion Co-Issuer Inc.                                           | CUSIP: 045941AA9<br>LEI: 549300KNQVXGIOXWK278 | Long             | DBT              | CORP              | US        |    242000 | PA      | $251265.69    | 0.75%             | 2032-12-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Brink's Co. (The)                                                             | Brink's Co. (The)                                                             | CUSIP: 109696AD6<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |    145000 | PA      | $146906.90    | 0.44%             | 2032-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Carriage Services, Inc.                                                       | Carriage Services, Inc.                                                       | CUSIP: 143905AP2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    240000 | PA      | $228203.64    | 0.68%             | 2029-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Fibercop S.p.A.                                                               | Fibercop S.p.A.                                                               | CUSIP: 683879AD2<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |    259000 | PA      | $247030.60    | 0.74%             | 2034-09-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                                      | Lumen Technologies, Inc.                                                      | CUSIP: 550241AA1<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |      4000 | PA      | $3792.95      | 0.01%             | 2029-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CCO Holdings, LLC/CCO Holdings Capital Corp.                                  | CCO Holdings, LLC/CCO Holdings Capital Corp.                                  | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     80000 | PA      | $71534.84     | 0.21%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Worldline                                                                     | Worldline                                                                     | CUSIP: N/A<br>LEI: 549300CJMQNCA0U4TS33       | Long             | DBT              | CORP              | FR        |    100000 | PA      | $105444.70    | 0.32%             | 2028-09-12      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                                         | OneMain Finance Corp.                                                         | CUSIP: 682691AG5<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    142000 | PA      | $140817.38    | 0.42%             | 2031-11-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| EMRLD Borrower L.P.                                                           | EMRLD Borrower L.P., Incremental Term Loan B                                  | CUSIP: 26872NAD1<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |    274004 | PA      | $273862.01    | 0.82%             | 2031-08-04      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

**Name of Applicant:** AIM Variable Insurance Funds (Invesco Variable Insurance Funds)

**Signature:** Adrien Deberghes

**Name of Signer:** Adrien Deberghes

**Title:** Principal Financial Officer and Treasurer