# EDGAR Filing Document

**Accession Number:** 0001605283
**File Stem:** 0001193125-26-209994
**Filing Date:** 2026-5
**Character Count:** 130975
**Document Hash:** 72333f8b4fff4d94e8e71937071691bd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-209994.hdr.sgml**: 20260507

**ACCESSION NUMBER**: 0001193125-26-209994

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 20

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260507

**DATE AS OF CHANGE**: 20260507

**EFFECTIVENESS DATE**: 20260507

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Invesco Management Trust
- **CENTRAL INDEX KEY:** 0001605283

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22957
- **FILM NUMBER:** 26950566

**BUSINESS ADDRESS:**
- **STREET 1:** 11 GREENWAY PLAZA
- **STREET 2:** SUITE 1000
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77046
- **BUSINESS PHONE:** 713-626-1919

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

## Series and Classes Contracts Data

### Invesco Conservative Income Fund (Series ID: S000045836)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000142880 | Institutional Class | ICIFX           |
| C000199848 | Class A             | ICIVX           |
| C000217951 | Class R6            | ICIRX           |
| C000217952 | Class Y             | ICIYX           |

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#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

------

#### &nbsp;&nbsp;&nbsp;&nbsp; FORM N-CSR

------

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

#### Investment Company Act file number

#### 811-22957

#### Invesco Management Trust
(Exact name of registrant as specified in charter)

------

11 Greenway Plaza, Suite 1000 Houston, Texas 77046

(Address of principal executive offices) (Zip code)

Glenn Brightman, Principal Executive Officer

11 Greenway Plaza, Suite 1000

Houston, Texas 77046

(Name and address of agent for service)

#### Registrant's telephone number, including area code:
&nbsp;&nbsp;&nbsp;&nbsp;(713) 626-1919

#### Date of fiscal year end:

#### August 31

#### Date of reporting period:

#### February 28, 2026
Item 1. Reports to Stockholders.

(a) The Registrant's semi-annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940, as amended (the "Act") is as follows:

![TSR_logo](images_2685.jpg)

### Invesco Conservative Income Fund

### Class A: ICIVX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| February 28, 2026
This semi-annual shareholder report contains important information about Invesco Conservative Income Fund (the "Fund") for the period September 1, 2025 to February 28, 2026. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Six Months ?
*(Based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Conservative Income Fund<br>(Class A) | $210.42%<sup>†</sup> |

---

---

| | |
|:---|:---|
| *\** | **Annualized.**  |
| **<sup>†</sup>**  | **Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.**  |

---

### What Are Key Statistics About The Fund?
(as of February 28, 2026)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1826138051 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;256 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;22% |

---

### What Comprised The Fund's Holdings?
(as of February 28, 2026)

**Security type allocation** 

**(% of total investments)**

![Graphical Representation - Allocation 1 Chart](chartimages_9998764.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2684.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

CINC-SAR-A **Invesco Conservative Income Fund**

![TSR_logo](images_2685.jpg)

### Invesco Conservative Income Fund

### Class Y: ICIYX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| February 28, 2026
This semi-annual shareholder report contains important information about Invesco Conservative Income Fund (the "Fund") for the period September 1, 2025 to February 28, 2026. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Six Months ?
*(Based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Conservative Income Fund<br>(Class Y) | $160.32%<sup>†</sup> |

---

---

| | |
|:---|:---|
| *\** | **Annualized.**  |
| **<sup>†</sup>**  | **Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.**  |

---

### What Are Key Statistics About The Fund?
(as of February 28, 2026)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1826138051 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;256 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;22% |

---

### What Comprised The Fund's Holdings?
(as of February 28, 2026)

**Security type allocation** 

**(% of total investments)**

![Graphical Representation - Allocation 1 Chart](chartimages_9998800.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2684.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

CINC-SAR-Y **Invesco Conservative Income Fund**

![TSR_logo](images_2685.jpg)

### Invesco Conservative Income Fund

### Institutional Class: ICIFX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| February 28, 2026
This semi-annual shareholder report contains important information about Invesco Conservative Income Fund (the "Fund") for the period September 1, 2025 to February 28, 2026. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Six Months ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment\*** |
| Invesco Conservative Income Fund<br>(Institutional Class) | $14 | 0.28% |

---

*\** **Annualized.** 

### What Are Key Statistics About The Fund?
(as of February 28, 2026)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1826138051 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;256 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;22% |

---

### What Comprised The Fund's Holdings?
(as of February 28, 2026)

**Security type allocation** 

**(% of total investments)**

![Graphical Representation - Allocation 1 Chart](chartimages_9998728.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2684.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

CINC-SAR-INST **Invesco Conservative Income Fund**

![TSR_logo](images_2685.jpg)

### Invesco Conservative Income Fund

### Class R6: ICIRX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| February 28, 2026
This semi-annual shareholder report contains important information about Invesco Conservative Income Fund (the "Fund") for the period September 1, 2025 to February 28, 2026. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Six Months ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment\*** |
| Invesco Conservative Income Fund<br>(Class R6) | $15 | 0.30% |

---

*\** **Annualized.** 

### What Are Key Statistics About The Fund?
(as of February 28, 2026)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1826138051 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;256 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;22% |

---

### What Comprised The Fund's Holdings?
(as of February 28, 2026)

**Security type allocation** 

**(% of total investments)**

![Graphical Representation - Allocation 1 Chart](chartimages_9998665.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2684.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

CINC-SAR-R6 **Invesco Conservative Income Fund**

------

(b) Not applicable.

------

Item 2. Code of Ethics.

Not applicable for a semi-annual report.

------

Item 3. Audit Committee Financial Expert.

Not applicable for a semi-annual report.

------

Item 4. Principal Accountant Fees and Services.

Not applicable for a semi-annual report.

------

Item 5. Audit Committee of Listed Registrants.

Not applicable.

------

Item 6. Investments.

(a) Investments in securities of unaffiliated issuers is filed under Item 7 of this Form N-CSR.

(b) Not applicable.

------

Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

------

![](img67fb17081.jpg)

------

**Semi-Annual Financial Statements and Other Information**

**February 28, 2026**

**Invesco Conservative Income Fund**

Nasdaq:

A: ICIVX ■ Y: ICIYX ■ Institutional: ICIFX ■ R6: ICIRX

------

---

| | |
|:---|:---|
| [2](#xx_a8f27b28-cdb7-4be1-9d5e-8449d73bd49f_SOI-Continued-389_1) | Schedule of Investments |
| [10](#xx_a8f27b28-cdb7-4be1-9d5e-8449d73bd49f_FS-Continued-389_1) | Financial Statements |
| [13](#xx_a8f27b28-cdb7-4be1-9d5e-8449d73bd49f_FS-Continued-389_4) | Financial Highlights |
| [14](#xx_a8f27b28-cdb7-4be1-9d5e-8449d73bd49f_NTF-Continued-389_1) | Notes to Financial Statements |
| [18](#xx_a8f27b28-cdb7-4be1-9d5e-8449d73bd49f_OIRSR-Continued-389_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

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

*February 28, 2026*

*(Unaudited)* 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **U.S. Dollar Denominated Bonds & Notes-64.51%** | **U.S. Dollar Denominated Bonds & Notes-64.51%** | **U.S. Dollar Denominated Bonds & Notes-64.51%** | **U.S. Dollar Denominated Bonds & Notes-64.51%** | **U.S. Dollar Denominated Bonds & Notes-64.51%** |
| **Agricultural & Farm Machinery-1.10%** | **Agricultural & Farm Machinery-1.10%** | **Agricultural & Farm Machinery-1.10%** | **Agricultural & Farm Machinery-1.10%** | **Agricultural & Farm Machinery-1.10%** |
| John Deere Capital Corp. (SOFR + 0.44%)<sup>(b)</sup> <br>| 4.16% | 03/06/2026 | $10000 | &nbsp;&nbsp; $10000363 |
| John Deere Capital Corp. (SOFR + 0.50%)<sup>(b)</sup> <br>| 4.22% | 03/06/2028 | 10000 | &nbsp;&nbsp; 10047816 |
|  |  |  |  | &nbsp;&nbsp; 20048179 |
| **Agricultural Products & Services-0.55%** | **Agricultural Products & Services-0.55%** | **Agricultural Products & Services-0.55%** | **Agricultural Products & Services-0.55%** | **Agricultural Products & Services-0.55%** |
| Cargill, Inc. (SOFR + 0.61%)<sup>(b)(c)</sup> <br>| 4.30% | 02/11/2028 | 10000 | &nbsp;&nbsp; 10038858 |
| **Application Software-0.19%** | **Application Software-0.19%** | **Application Software-0.19%** | **Application Software-0.19%** | **Application Software-0.19%** |
| Roper Technologies, Inc. | 4.25% | 09/15/2028 | 1015 | &nbsp;&nbsp; 1019759 |
| Synopsys, Inc. | 4.55% | 04/01/2027 | 2500 | &nbsp;&nbsp; 2519460 |
|  |  |  |  | &nbsp;&nbsp; 3539219 |
| **Asset Management & Custody Banks-1.03%** | **Asset Management & Custody Banks-1.03%** | **Asset Management & Custody Banks-1.03%** | **Asset Management & Custody Banks-1.03%** | **Asset Management & Custody Banks-1.03%** |
| State Street Corp. (SOFR + 0.64%)<sup>(b)</sup> <br>| 4.33% | 10/22/2027 | 2857 | &nbsp;&nbsp; 2869306 |
| State Street Corp. (SOFR + 0.85%)<sup>(b)</sup> <br>| 4.54% | 08/03/2026 | 14458 | &nbsp;&nbsp; 14483046 |
| State Street Corp.<sup>(d)</sup> <br>| 4.54% | 04/24/2028 | 1432 | &nbsp;&nbsp; 1442446 |
|  |  |  |  | &nbsp;&nbsp; 18794798 |
| **Automobile Manufacturers-5.20%** | **Automobile Manufacturers-5.20%** | **Automobile Manufacturers-5.20%** | **Automobile Manufacturers-5.20%** | **Automobile Manufacturers-5.20%** |
| American Honda Finance Corp. (SOFR + 0.72%)<sup>(b)</sup> <br>| 4.41% | 10/05/2026 | 15000 | &nbsp;&nbsp; 15043316 |
| American Honda Finance Corp. (SOFR + 0.78%)<sup>(b)</sup> <br>| 4.46% | 01/08/2029 | 7496 | &nbsp;&nbsp; 7508936 |
| American Honda Finance Corp. (SOFR + 0.82%)<sup>(b)</sup> <br>| 4.52% | 03/03/2028 | 10000 | &nbsp;&nbsp; 10046862 |
| American Honda Finance Corp. (SOFR + 0.87%)<sup>(b)</sup> <br>| 4.55% | 07/09/2027 | 10000 | &nbsp;&nbsp; 10059215 |
| Daimler Truck Finance North America LLC (Germany)<sup>(c)</sup> <br>| 4.30% | 08/12/2027 | 4179 | &nbsp;&nbsp; 4205637 |
| Daimler Truck Finance North America LLC (Germany)<sup>(c)</sup> <br>| 5.13% | 09/25/2027 | 5905 | &nbsp;&nbsp; 6008390 |
| Hyundai Capital America<sup>(c)</sup> <br>| 3.50% | 11/02/2026 | 2000 | &nbsp;&nbsp; 1992954 |
| Hyundai Capital America<sup>(c)</sup> <br>| 4.88% | 06/23/2027 | 8000 | &nbsp;&nbsp; 8098900 |
| Toyota Motor Credit Corp. | 5.40% | 11/20/2026 | 8000 | &nbsp;&nbsp; 8089141 |
| Volkswagen Group of America Finance LLC (Germany)<sup>(c)</sup> <br>| 4.45% | 09/11/2027 | 4000 | &nbsp;&nbsp; 4022710 |
| Volkswagen Group of America Finance LLC (Germany) (SOFR + 0.83%)<sup>(b)(c)</sup> <br>| 4.53% | 03/20/2026 | 10000 | &nbsp;&nbsp; 10003420 |
| Volkswagen Group of America Finance LLC (Germany)<sup>(c)</sup> <br>| 6.00% | 11/16/2026 | 9785 | &nbsp;&nbsp; 9917032 |
|  |  |  |  | &nbsp;&nbsp; 94996513 |
| **Automotive Parts & Equipment-0.59%** | **Automotive Parts & Equipment-0.59%** | **Automotive Parts & Equipment-0.59%** | **Automotive Parts & Equipment-0.59%** | **Automotive Parts & Equipment-0.59%** |
| BMW US Capital LLC (Germany) (SOFR + 0.80%)<sup>(b)(c)</sup> <br>| 4.49% | 08/13/2026 | 10811 | &nbsp;&nbsp; 10841459 |
| **Biotechnology-0.18%** | **Biotechnology-0.18%** | **Biotechnology-0.18%** | **Biotechnology-0.18%** | **Biotechnology-0.18%** |
| AbbVie, Inc. (SOFR + 0.48%)<sup>(b)</sup> <br>| 4.18% | 03/03/2028 | 3252 | &nbsp;&nbsp; 3259569 |
| **Broadline Retail-0.83%** | **Broadline Retail-0.83%** | **Broadline Retail-0.83%** | **Broadline Retail-0.83%** | **Broadline Retail-0.83%** |
| Amazon.com, Inc. | 3.90% | 11/20/2028 | 6890 | &nbsp;&nbsp; 6929420 |
| eBay, Inc. | 1.40% | 05/10/2026 | 4500 | &nbsp;&nbsp; 4477841 |
| eBay, Inc. | 4.25% | 03/06/2029 | 3676 | &nbsp;&nbsp; 3701538 |
|  |  |  |  | &nbsp;&nbsp; 15108799 |
| **Building Products-0.08%** | **Building Products-0.08%** | **Building Products-0.08%** | **Building Products-0.08%** | **Building Products-0.08%** |
| Masco Corp. | 3.50% | 11/15/2027 | 1460 | &nbsp;&nbsp; 1451105 |
| **Commercial & Residential Mortgage Finance-0.16%** | **Commercial & Residential Mortgage Finance-0.16%** | **Commercial & Residential Mortgage Finance-0.16%** | **Commercial & Residential Mortgage Finance-0.16%** | **Commercial & Residential Mortgage Finance-0.16%** |
| Aviation Capital Group LLC<sup>(c)</sup> <br>| 4.25% | 04/30/2029 | 970 | &nbsp;&nbsp; 970272 |
| Aviation Capital Group LLC<sup>(c)</sup> <br>| 4.75% | 04/14/2027 | 1936 | &nbsp;&nbsp; 1948451 |
|  |  |  |  | &nbsp;&nbsp; 2918723 |
| **Construction Machinery & Heavy Transportation Equipment-0.48%** | **Construction Machinery & Heavy Transportation Equipment-0.48%** | **Construction Machinery & Heavy Transportation Equipment-0.48%** | **Construction Machinery & Heavy Transportation Equipment-0.48%** | **Construction Machinery & Heavy Transportation Equipment-0.48%** |
| Caterpillar Financial Services Corp., Series K | 4.10% | 08/15/2028 | 8734 | &nbsp;&nbsp; 8817609 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**2**

**Invesco Conservative Income Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Consumer Finance-1.62%** | **Consumer Finance-1.62%** | **Consumer Finance-1.62%** | **Consumer Finance-1.62%** | **Consumer Finance-1.62%** |
| Capital One Financial Corp. | 3.75% | 03/09/2027 | $6081 | &nbsp;&nbsp; $6074397 |
| Capital One Financial Corp.<sup>(d)</sup> <br>| 4.93% | 05/10/2028 | 10000 | &nbsp;&nbsp; 10100239 |
| General Motors Financial Co., Inc. (SOFR + 1.17%)<sup>(b)</sup> <br>| 4.86% | 04/04/2028 | 10000 | &nbsp;&nbsp; 10058120 |
| General Motors Financial Co., Inc. | 5.00% | 07/15/2027 | 3333 | &nbsp;&nbsp; 3376932 |
|  |  |  |  | &nbsp;&nbsp; 29609688 |
| **Diversified Banks-24.58%** | **Diversified Banks-24.58%** | **Diversified Banks-24.58%** | **Diversified Banks-24.58%** | **Diversified Banks-24.58%** |
| Australia and New Zealand Banking Group Ltd. (Australia) (SOFR + 0.59%)<sup>(b)(c)</sup> <br>| 4.30% | 12/08/2028 | 4390 | &nbsp;&nbsp; 4404512 |
| Australia and New Zealand Banking Group Ltd. (Australia) (SOFR + 0.81%)<sup>(b)(c)</sup> <br>| 4.49% | 01/18/2027 | 14000 | &nbsp;&nbsp; 14073239 |
| Banco Bilbao Vizcaya Argentaria S.A. (Spain) (SOFR + 0.88%)<sup>(b)</sup> <br>| 4.58% | 03/03/2029 | 5600 | &nbsp;&nbsp; 5604676 |
| Bank of America N.A. | 5.53% | 08/18/2026 | 15000 | &nbsp;&nbsp; 15092709 |
| Bank of Montreal (Canada) (SOFR + 0.76%)<sup>(b)</sup> <br>| 4.48% | 06/04/2027 | 10000 | &nbsp;&nbsp; 10050759 |
| Bank of New York Mellon (The) (SOFR + 0.71%)<sup>(b)</sup> <br>| 4.40% | 04/20/2027 | 3311 | &nbsp;&nbsp; 3313480 |
| Bank of Nova Scotia (The) (Canada)<sup>(d)</sup> <br>| 4.04% | 09/15/2028 | 10000 | &nbsp;&nbsp; 10017434 |
| Barclays Bank PLC (United Kingdom) (SOFR + 0.58%)<sup>(b)</sup> <br>| 4.27% | 08/14/2026 | 12000 | &nbsp;&nbsp; 11997810 |
| Canadian Imperial Bank of Commerce (Canada)<sup>(d)</sup> <br>| 4.24% | 09/08/2028 | 10000 | &nbsp;&nbsp; 10048582 |
| Canadian Imperial Bank of Commerce (Canada) (SOFR + 0.93%)<sup>(b)</sup> <br>| 4.63% | 09/11/2027 | 10000 | &nbsp;&nbsp; 10031210 |
| Canadian Imperial Bank of Commerce (Canada) (SOFR + 1.22%)<sup>(b)</sup> <br>| 4.91% | 10/02/2026 | 15000 | &nbsp;&nbsp; 15081787 |
| Citigroup, Inc.<sup>(d)</sup> <br>| 4.64% | 05/07/2028 | 10000 | &nbsp;&nbsp; 10071091 |
| Citizens Bank N.A.<sup>(d)</sup> <br>| 4.19% | 01/29/2029 | 4388 | &nbsp;&nbsp; 4395040 |
| Commonwealth Bank of Australia (Australia) (SOFR + 0.75%)<sup>(b)(c)</sup> <br>| 4.45% | 03/13/2026 | 14512 | &nbsp;&nbsp; 14515550 |
| Cooperatieve Rabobank U.A. (Netherlands) (SOFR + 0.59%)<sup>(b)</sup> <br>| 4.29% | 05/27/2027 | 8571 | &nbsp;&nbsp; 8598607 |
| Cooperatieve Rabobank U.A. (Netherlands) (SOFR + 0.62%)<sup>(b)</sup> <br>| 4.32% | 08/28/2026 | 8035 | &nbsp;&nbsp; 8050615 |
| Fifth Third Bank N.A. (SOFR + 0.81%)<sup>(b)</sup> <br>| 4.50% | 01/28/2028 | 5300 | &nbsp;&nbsp; 5308184 |
| Goldman Sachs Bank USA (SOFR + 0.54%)<sup>(b)</sup> <br>| 4.26% | 03/07/2027 | 10000 | &nbsp;&nbsp; 10045510 |
| HSBC USA, Inc. (SOFR + 0.97%)<sup>(b)</sup> <br>| 4.67% | 06/03/2028 | 6522 | &nbsp;&nbsp; 6567884 |
| Huntington National Bank (The) (SOFR + 0.72%)<sup>(b)</sup> <br>| 4.40% | 04/12/2028 | 8127 | &nbsp;&nbsp; 8139087 |
| ING Groep N.V. (Netherlands) (SOFR + 1.56%)<sup>(b)</sup> <br>| 5.26% | 09/11/2027 | 10000 | &nbsp;&nbsp; 10062196 |
| JPMorgan Chase Bank N.A. | 5.11% | 12/08/2026 | 7589 | &nbsp;&nbsp; 7658407 |
| Macquarie Bank Ltd. (Australia) (SOFR + 0.48%)<sup>(b)(c)</sup> <br>| 4.16% | 02/03/2028 | 4321 | &nbsp;&nbsp; 4326097 |
| Morgan Stanley Bank N.A. (SOFR + 0.69%)<sup>(b)</sup> <br>| 4.37% | 10/15/2027 | 10000 | &nbsp;&nbsp; 10021132 |
| Morgan Stanley Private Bank N.A. (SOFR + 0.77%)<sup>(b)</sup> <br>| 4.45% | 07/06/2028 | 6969 | &nbsp;&nbsp; 6986828 |
| National Bank of Canada (Canada)<sup>(d)</sup> <br>| 4.17% | 01/20/2029 | 6349 | &nbsp;&nbsp; 6374473 |
| National Bank of Canada (Canada) (SOFR + 0.80%)<sup>(b)</sup> <br>| 4.50% | 08/20/2026 | 10000 | &nbsp;&nbsp; 10001354 |
| National Bank of Canada (Canada) (SOFR + 1.03%)<sup>(b)</sup> <br>| 4.72% | 07/02/2027 | 5797 | &nbsp;&nbsp; 5809790 |
| Nordea Bank Abp (Finland)<sup>(c)</sup> <br>| 4.38% | 03/17/2028 | 5000 | &nbsp;&nbsp; 5059669 |
| Nordea Bank Abp (Finland) (SOFR + 0.74%)<sup>(b)(c)</sup> <br>| 4.44% | 03/19/2027 | 14286 | &nbsp;&nbsp; 14359586 |
| PNC Bank N.A. (SOFR + 0.73%)<sup>(b)</sup> <br>| 4.42% | 07/21/2028 | 2633 | &nbsp;&nbsp; 2638167 |
| PNC Bank N.A.<sup>(d)</sup> <br>| 4.54% | 05/13/2027 | 6977 | &nbsp;&nbsp; 6984841 |
| PNC Financial Services Group, Inc. (The)<sup>(d)</sup> <br>| 4.08% | 01/26/2029 | 2183 | &nbsp;&nbsp; 2190204 |
| PNC Financial Services Group, Inc. (The)<sup>(d)</sup> <br>| 5.10% | 07/23/2027 | 7500 | &nbsp;&nbsp; 7532588 |
| Royal Bank of Canada (Canada) (SOFR + 0.95%)<sup>(b)</sup> <br>| 4.64% | 01/19/2027 | 16667 | &nbsp;&nbsp; 16769869 |
| Sumitomo Mitsui Financial Group, Inc. (Japan) | 1.90% | 09/17/2028 | 6000 | &nbsp;&nbsp; 5702673 |
| Sumitomo Mitsui Financial Group, Inc. (Japan) | 4.11% | 01/15/2029 | 3641 | &nbsp;&nbsp; 3657593 |
| Sumitomo Mitsui Trust Bank Ltd. (Japan) (SOFR + 0.75%)<sup>(b)(c)</sup> <br>| 4.46% | 09/11/2028 | 1541 | &nbsp;&nbsp; 1547358 |
| Sumitomo Mitsui Trust Bank Ltd. (Japan)<sup>(c)</sup> <br>| 5.20% | 03/07/2027 | 6557 | &nbsp;&nbsp; 6646588 |
| Sumitomo Mitsui Trust Bank Ltd. (Japan)<sup>(c)</sup> <br>| 5.65% | 09/14/2026 | 4349 | &nbsp;&nbsp; 4388621 |
| Svenska Handelsbanken AB (Sweden) (SOFR + 0.74%)<sup>(b)(c)</sup> <br>| 4.44% | 05/23/2028 | 6522 | &nbsp;&nbsp; 6550114 |
| Swedbank AB (Sweden) (SOFR + 1.38%)<sup>(b)(c)</sup> <br>| 5.08% | 06/15/2026 | 15000 | &nbsp;&nbsp; 15050904 |
| Swedbank AB (Sweden)<sup>(c)</sup> <br>| 6.14% | 09/12/2026 | 8130 | &nbsp;&nbsp; 8227837 |
| Toronto-Dominion Bank (The) (Canada) (SOFR + 0.82%)<sup>(b)</sup> <br>| 4.51% | 01/31/2028 | 8791 | &nbsp;&nbsp; 8840552 |
| Toronto-Dominion Bank (The) (Canada) (SOFR + 0.91%)<sup>(b)</sup> <br>| 4.61% | 06/02/2028 | 10000 | &nbsp;&nbsp; 10081309 |
| Toronto-Dominion Bank (The) (Canada) (SOFR + 1.00%)<sup>(b)</sup> <br>| 4.69% | 10/20/2026 | 9800 | &nbsp;&nbsp; 9841090 |
| Toronto-Dominion Bank (The) (Canada) (SOFR + 1.08%)<sup>(b)</sup> <br>| 4.77% | 07/17/2026 | 13050 | &nbsp;&nbsp; 13094124 |
| Truist Bank (SOFR + 0.66%)<sup>(b)</sup> <br>| 4.35% | 01/27/2029 | 10000 | &nbsp;&nbsp; 10000622 |
| Truist Bank (SOFR + 0.77%)<sup>(b)</sup> <br>| 4.46% | 07/24/2028 | 9757 | &nbsp;&nbsp; 9778987 |
| U.S. Bank N.A. (SOFR + 0.69%)<sup>(b)</sup> <br>| 4.38% | 10/22/2027 | 10000 | &nbsp;&nbsp; 10016359 |
| U.S. Bank N.A. (SOFR + 0.91%)<sup>(b)</sup> <br>| 4.60% | 05/15/2028 | 10000 | &nbsp;&nbsp; 10053813 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**3**

**Invesco Conservative Income Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Diversified Banks-(continued)** | **Diversified Banks-(continued)** | **Diversified Banks-(continued)** | **Diversified Banks-(continued)** | **Diversified Banks-(continued)** |
| UBS AG (Switzerland)<sup>(d)</sup> <br>| 4.86% | 01/10/2028 | $5608 | &nbsp;&nbsp; $5654246 |
| Wells Fargo & Co. (SOFR + 0.78%)<sup>(b)</sup> <br>| 4.47% | 01/24/2028 | 7461 | &nbsp;&nbsp; 7482219 |
|  |  |  |  | &nbsp;&nbsp; 448797976 |
| **Diversified Financial Services-0.16%** | **Diversified Financial Services-0.16%** | **Diversified Financial Services-0.16%** | **Diversified Financial Services-0.16%** | **Diversified Financial Services-0.16%** |
| Avolon Holdings Funding Ltd. (Ireland)<sup>(c)</sup> <br>| 4.20% | 04/15/2029 | 2913 | &nbsp;&nbsp; 2905715 |
| **Diversified Metals & Mining-1.68%** | **Diversified Metals & Mining-1.68%** | **Diversified Metals & Mining-1.68%** | **Diversified Metals & Mining-1.68%** | **Diversified Metals & Mining-1.68%** |
| BHP Billiton Finance (USA) Ltd. (Australia) | 5.25% | 09/08/2026 | 14815 | &nbsp;&nbsp; 14922861 |
| Glencore Funding LLC (Australia) (SOFR + 0.75%)<sup>(b)(c)</sup> <br>| 4.44% | 10/01/2026 | 5357 | &nbsp;&nbsp; 5368321 |
| Glencore Funding LLC (Australia) (SOFR + 1.06%)<sup>(b)(c)</sup> <br>| 4.75% | 04/04/2027 | 8522 | &nbsp;&nbsp; 8561142 |
| Rio Tinto Finance (USA) PLC (Australia) | 4.38% | 03/12/2027 | 1741 | &nbsp;&nbsp; 1754994 |
|  |  |  |  | &nbsp;&nbsp; 30607318 |
| **Electric Utilities-1.96%** | **Electric Utilities-1.96%** | **Electric Utilities-1.96%** | **Electric Utilities-1.96%** | **Electric Utilities-1.96%** |
| National Rural Utilities Cooperative Finance Corp., Series D | 4.15% | 08/25/2028 | 5128 | &nbsp;&nbsp; 5165198 |
| National Rural Utilities Cooperative Finance Corp. (SOFR + 0.82%)<sup>(b)</sup> <br>| 4.52% | 09/16/2027 | 15000 | &nbsp;&nbsp; 15089702 |
| National Rural Utilities Cooperative Finance Corp. | 5.10% | 05/06/2027 | 7500 | &nbsp;&nbsp; 7605613 |
| NextEra Energy Capital Holdings, Inc. (SOFR + 0.80%)<sup>(b)</sup> <br>| 4.49% | 02/04/2028 | 7330 | &nbsp;&nbsp; 7377871 |
| Pinnacle West Capital Corp. | 4.90% | 05/15/2028 | 649 | &nbsp;&nbsp; 661872 |
|  |  |  |  | &nbsp;&nbsp; 35900256 |
| **Fertilizers & Agricultural Chemicals-0.33%** | **Fertilizers & Agricultural Chemicals-0.33%** | **Fertilizers & Agricultural Chemicals-0.33%** | **Fertilizers & Agricultural Chemicals-0.33%** | **Fertilizers & Agricultural Chemicals-0.33%** |
| Nutrien Ltd. (Canada) | 4.50% | 03/12/2027 | 5970 | &nbsp;&nbsp; 6007716 |
| **Home Improvement Retail-0.25%** | **Home Improvement Retail-0.25%** | **Home Improvement Retail-0.25%** | **Home Improvement Retail-0.25%** | **Home Improvement Retail-0.25%** |
| Home Depot, Inc. (The) | 5.15% | 06/25/2026 | 4504 | &nbsp;&nbsp; 4522661 |
| **Hotels, Resorts & Cruise Lines-0.09%** | **Hotels, Resorts & Cruise Lines-0.09%** | **Hotels, Resorts & Cruise Lines-0.09%** | **Hotels, Resorts & Cruise Lines-0.09%** | **Hotels, Resorts & Cruise Lines-0.09%** |
| Marriott International, Inc. | 4.20% | 07/15/2027 | 1709 | &nbsp;&nbsp; 1716713 |
| **Interactive Media & Services-0.20%** | **Interactive Media & Services-0.20%** | **Interactive Media & Services-0.20%** | **Interactive Media & Services-0.20%** | **Interactive Media & Services-0.20%** |
| Alphabet, Inc. (SOFR + 0.52%)<sup>(b)</sup> <br>| 4.21% | 11/15/2028 | 3636 | &nbsp;&nbsp; 3660974 |
| **Investment Banking & Brokerage-1.82%** | **Investment Banking & Brokerage-1.82%** | **Investment Banking & Brokerage-1.82%** | **Investment Banking & Brokerage-1.82%** | **Investment Banking & Brokerage-1.82%** |
| Goldman Sachs Group, Inc. (The)<sup>(d)</sup> <br>| 4.94% | 04/23/2028 | 5129 | &nbsp;&nbsp; 5178371 |
| Jefferies Financial Group, Inc. | 4.30% | 02/11/2027 | 9106 | &nbsp;&nbsp; 9115504 |
| Jefferies Financial Group, Inc. | 4.50% | 09/15/2026 | 10000 | &nbsp;&nbsp; 10002241 |
| Morgan Stanley<sup>(d)</sup> <br>| 1.51% | 07/20/2027 | 9000 | &nbsp;&nbsp; 8917210 |
|  |  |  |  | &nbsp;&nbsp; 33213326 |
| **Life & Health Insurance-13.87%** | **Life & Health Insurance-13.87%** | **Life & Health Insurance-13.87%** | **Life & Health Insurance-13.87%** | **Life & Health Insurance-13.87%** |
| Athene Global Funding (SOFR + 1.03%)<sup>(b)(c)</sup> <br>| 4.73% | 08/27/2026 | 10000 | &nbsp;&nbsp; 10026271 |
| Athene Global Funding (SOFR + 1.21%)<sup>(b)(c)</sup> <br>| 4.91% | 03/25/2027 | 12000 | &nbsp;&nbsp; 12057092 |
| Athene Global Funding<sup>(c)</sup> <br>| 5.62% | 05/08/2026 | 12000 | &nbsp;&nbsp; 12031109 |
| Brighthouse Financial Global Funding<sup>(c)</sup> <br>| 5.55% | 04/09/2027 | 8150 | &nbsp;&nbsp; 8241591 |
| CNO Global Funding<sup>(c)</sup> <br>| 4.88% | 12/10/2027 | 4918 | &nbsp;&nbsp; 4967661 |
| Corebridge Global Funding<sup>(c)</sup> <br>| 4.25% | 08/21/2028 | 3043 | &nbsp;&nbsp; 3053457 |
| Corebridge Global Funding (SOFR + 0.75%)<sup>(b)(c)</sup> <br>| 4.43% | 01/07/2028 | 10000 | &nbsp;&nbsp; 10011589 |
| Corebridge Global Funding (SOFR + 1.30%)<sup>(b)(c)</sup> <br>| 5.00% | 09/25/2026 | 15000 | &nbsp;&nbsp; 15075205 |
| Corebridge Global Funding<sup>(c)</sup> <br>| 5.75% | 07/02/2026 | 7758 | &nbsp;&nbsp; 7804022 |
| Equitable America Global Funding<sup>(c)</sup> <br>| 3.95% | 09/15/2027 | 4474 | &nbsp;&nbsp; 4472417 |
| Equitable America Global Funding<sup>(c)</sup> <br>| 4.30% | 12/15/2028 | 11000 | &nbsp;&nbsp; 11061307 |
| F&G Global Funding<sup>(c)</sup> <br>| 4.50% | 01/09/2029 | 8065 | &nbsp;&nbsp; 8004801 |
| F&G Global Funding<sup>(c)</sup> <br>| 4.65% | 09/08/2028 | 2139 | &nbsp;&nbsp; 2133176 |
| GA Global Funding Trust<sup>(c)</sup> <br>| 2.25% | 01/06/2027 | 3700 | &nbsp;&nbsp; 3645054 |
| Jackson National Life Global Funding (SOFR + 0.95%)<sup>(b)(c)</sup> <br>| 4.65% | 09/12/2028 | 1430 | &nbsp;&nbsp; 1434641 |
| Jackson National Life Global Funding<sup>(c)</sup> <br>| 5.55% | 07/02/2027 | 6719 | &nbsp;&nbsp; 6842534 |
| Lincoln Financial Global Funding<sup>(c)</sup> <br>| 4.63% | 05/28/2028 | 3000 | &nbsp;&nbsp; 3018617 |
| MassMutual Global Funding II (SOFR + 0.68%)<sup>(b)(c)</sup> <br>| 4.37% | 08/01/2028 | 10000 | &nbsp;&nbsp; 10019420 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**4**

**Invesco Conservative Income Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Life & Health Insurance-(continued)** | **Life & Health Insurance-(continued)** | **Life & Health Insurance-(continued)** | **Life & Health Insurance-(continued)** | **Life & Health Insurance-(continued)** |
| MassMutual Global Funding II (SOFR + 0.77%)<sup>(b)(c)</sup> <br>| 4.46% | 01/29/2027 | $15000 | &nbsp;&nbsp; $15059057 |
| MassMutual Global Funding II (SOFR + 0.98%)<sup>(b)(c)</sup> <br>| 4.66% | 07/10/2026 | 13500 | &nbsp;&nbsp; 13535042 |
| Met Tower Global Funding<sup>(c)</sup> <br>| 4.00% | 01/14/2029 | 7692 | &nbsp;&nbsp; 7707241 |
| Met Tower Global Funding<sup>(c)</sup> <br>| 5.40% | 06/20/2026 | 10000 | &nbsp;&nbsp; 10037862 |
| New York Life Global Funding (SOFR + 0.67%)<sup>(b)(c)</sup> <br>| 4.36% | 04/02/2027 | 7000 | &nbsp;&nbsp; 7032630 |
| New York Life Global Funding<sup>(c)</sup> <br>| 4.40% | 04/25/2028 | 3695 | &nbsp;&nbsp; 3735095 |
| Northwestern Mutual Global Funding (SOFR + 0.66%)<sup>(b)(c)</sup> <br>| 4.36% | 08/25/2028 | 6250 | &nbsp;&nbsp; 6261553 |
| Pacific Life Global Funding II (SOFR + 0.60%)<sup>(b)(c)</sup> <br>| 4.29% | 03/27/2026 | 9750 | &nbsp;&nbsp; 9752873 |
| Pacific Life Global Funding II<sup>(c)</sup> <br>| 4.45% | 05/01/2028 | 9434 | &nbsp;&nbsp; 9538238 |
| Pacific Life Global Funding II (SOFR + 1.05%)<sup>(b)(c)</sup> <br>| 4.74% | 07/28/2026 | 12500 | &nbsp;&nbsp; 12541192 |
| Pricoa Global Funding I<sup>(c)</sup> <br>| 5.55% | 08/28/2026 | 3407 | &nbsp;&nbsp; 3433585 |
| Principal Life Global Funding II<sup>(c)</sup> <br>| 4.25% | 08/18/2028 | 4348 | &nbsp;&nbsp; 4362439 |
| Principal Life Global Funding II<sup>(c)</sup> <br>| 4.60% | 08/19/2027 | 4777 | &nbsp;&nbsp; 4825811 |
| Principal Life Global Funding II<sup>(c)</sup> <br>| 5.00% | 01/16/2027 | 4500 | &nbsp;&nbsp; 4546781 |
| Protective Life Global Funding (SOFR + 0.85%)<sup>(b)(c)</sup> <br>| 4.55% | 09/11/2028 | 7000 | &nbsp;&nbsp; 7015657 |
|  |  |  |  | &nbsp;&nbsp; 253285020 |
| **Movies & Entertainment-0.44%** | **Movies & Entertainment-0.44%** | **Movies & Entertainment-0.44%** | **Movies & Entertainment-0.44%** | **Movies & Entertainment-0.44%** |
| Walt Disney Co. (The) (SOFR + 0.47%)<sup>(b)</sup> <br>| 4.17% | 03/14/2029 | 8000 | &nbsp;&nbsp; 8005693 |
| **Multi-line Insurance-0.90%** | **Multi-line Insurance-0.90%** | **Multi-line Insurance-0.90%** | **Multi-line Insurance-0.90%** | **Multi-line Insurance-0.90%** |
| Metropolitan Life Global Funding I<sup>(c)</sup> <br>| 4.15% | 08/25/2028 | 2800 | &nbsp;&nbsp; 2822139 |
| USAA Capital Corp.<sup>(c)</sup> <br>| 4.38% | 06/01/2028 | 3330 | &nbsp;&nbsp; 3372691 |
| USAA Capital Corp.<sup>(c)</sup> <br>| 5.25% | 06/01/2027 | 10000 | &nbsp;&nbsp; 10198250 |
|  |  |  |  | &nbsp;&nbsp; 16393080 |
| **Oil & Gas Storage & Transportation-0.63%** | **Oil & Gas Storage & Transportation-0.63%** | **Oil & Gas Storage & Transportation-0.63%** | **Oil & Gas Storage & Transportation-0.63%** | **Oil & Gas Storage & Transportation-0.63%** |
| Enbridge, Inc. (Canada) | 4.20% | 11/20/2028 | 3846 | &nbsp;&nbsp; 3870457 |
| Enbridge, Inc. (Canada) | 4.60% | 06/20/2028 | 2905 | &nbsp;&nbsp; 2944909 |
| Enbridge, Inc. (Canada) | 5.25% | 04/05/2027 | 4666 | &nbsp;&nbsp; 4729253 |
|  |  |  |  | &nbsp;&nbsp; 11544619 |
| **Packaged Foods & Meats-0.46%** | **Packaged Foods & Meats-0.46%** | **Packaged Foods & Meats-0.46%** | **Packaged Foods & Meats-0.46%** | **Packaged Foods & Meats-0.46%** |
| Campbell's Co. (The) | 5.30% | 03/20/2026 | 2352 | &nbsp;&nbsp; 2353236 |
| Mars, Inc.<sup>(c)</sup> <br>| 4.45% | 03/01/2027 | 5956 | &nbsp;&nbsp; 6006042 |
|  |  |  |  | &nbsp;&nbsp; 8359278 |
| **Pharmaceuticals-1.68%** | **Pharmaceuticals-1.68%** | **Pharmaceuticals-1.68%** | **Pharmaceuticals-1.68%** | **Pharmaceuticals-1.68%** |
| Eli Lilly and Co. | 4.00% | 10/15/2028 | 3333 | &nbsp;&nbsp; 3364858 |
| GlaxoSmithKline Capital PLC (United Kingdom) (SOFR + 0.50%)<sup>(b)</sup> <br>| 4.20% | 03/12/2027 | 6593 | &nbsp;&nbsp; 6614117 |
| Merck & Co., Inc. (SOFR + 0.57%)<sup>(b)</sup> <br>| 4.29% | 03/15/2029 | 7650 | &nbsp;&nbsp; 7674545 |
| Novartis Capital Corp. | 3.90% | 11/05/2028 | 5465 | &nbsp;&nbsp; 5493569 |
| Pfizer, Inc. (SOFR + 0.50%)<sup>(b)</sup> <br>| 4.19% | 11/15/2027 | 2692 | &nbsp;&nbsp; 2702148 |
| Zoetis, Inc. | 4.15% | 08/17/2028 | 4808 | &nbsp;&nbsp; 4845404 |
|  |  |  |  | &nbsp;&nbsp; 30694641 |
| **Regional Banks-0.75%** | **Regional Banks-0.75%** | **Regional Banks-0.75%** | **Regional Banks-0.75%** | **Regional Banks-0.75%** |
| Zions Bancorporation N.A.<sup>(d)</sup> <br>| 4.48% | 02/09/2029 | 1956 | &nbsp;&nbsp; 1957186 |
| Zions Bancorporation N.A.<sup>(d)</sup> <br>| 4.70% | 08/18/2028 | 11618 | &nbsp;&nbsp; 11685209 |
|  |  |  |  | &nbsp;&nbsp; 13642395 |
| **Self-Storage REITs-0.55%** | **Self-Storage REITs-0.55%** | **Self-Storage REITs-0.55%** | **Self-Storage REITs-0.55%** | **Self-Storage REITs-0.55%** |
| Public Storage Operating Co. (SOFR + 0.70%)<sup>(b)</sup> <br>| 4.39% | 04/16/2027 | 10000 | &nbsp;&nbsp; 10043121 |
| **Semiconductors-0.55%** | **Semiconductors-0.55%** | **Semiconductors-0.55%** | **Semiconductors-0.55%** | **Semiconductors-0.55%** |
| Advanced Micro Devices, Inc. | 4.21% | 09/24/2026 | 10000 | &nbsp;&nbsp; 10029548 |
| **Soft Drinks & Non-alcoholic Beverages-0.55%** | **Soft Drinks & Non-alcoholic Beverages-0.55%** | **Soft Drinks & Non-alcoholic Beverages-0.55%** | **Soft Drinks & Non-alcoholic Beverages-0.55%** | **Soft Drinks & Non-alcoholic Beverages-0.55%** |
| Keurig Dr Pepper, Inc. (SOFR + 0.88%)<sup>(b)</sup> <br>| 4.58% | 03/15/2027 | 10000 | &nbsp;&nbsp; 10016438 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**5**

**Invesco Conservative Income Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Specialty Chemicals-0.25%** | **Specialty Chemicals-0.25%** | **Specialty Chemicals-0.25%** | **Specialty Chemicals-0.25%** | **Specialty Chemicals-0.25%** |
| Sherwin-Williams Co. (The) | 4.55% | 03/01/2028 | $4587 | &nbsp;&nbsp; $4649279 |
| **Technology Hardware, Storage & Peripherals-0.55%** | **Technology Hardware, Storage & Peripherals-0.55%** | **Technology Hardware, Storage & Peripherals-0.55%** | **Technology Hardware, Storage & Peripherals-0.55%** | **Technology Hardware, Storage & Peripherals-0.55%** |
| Hewlett Packard Enterprise Co. | 4.05% | 09/15/2027 | 10000 | &nbsp;&nbsp; 10022205 |
| **Transaction & Payment Processing Services-0.25%** | **Transaction & Payment Processing Services-0.25%** | **Transaction & Payment Processing Services-0.25%** | **Transaction & Payment Processing Services-0.25%** | **Transaction & Payment Processing Services-0.25%** |
| PayPal Holdings, Inc. | 4.45% | 03/06/2028 | 4464 | &nbsp;&nbsp; 4516360 |
| Total U.S. Dollar Denominated Bonds & Notes (Cost $1,172,383,696) | Total U.S. Dollar Denominated Bonds & Notes (Cost $1,172,383,696) | Total U.S. Dollar Denominated Bonds & Notes (Cost $1,172,383,696) |  | &nbsp;&nbsp; 1177958851 |
| **Commercial Paper-17.84%**<sup>(e)</sup>  | **Commercial Paper-17.84%**<sup>(e)</sup>  | **Commercial Paper-17.84%**<sup>(e)</sup>  | **Commercial Paper-17.84%**<sup>(e)</sup>  | **Commercial Paper-17.84%**<sup>(e)</sup>  |
| **Distributors-1.68%** | **Distributors-1.68%** | **Distributors-1.68%** | **Distributors-1.68%** | **Distributors-1.68%** |
| Genuine Parts Co.<sup>(c)</sup> <br>| 4.22% | 03/03/2026 | 10000 | &nbsp;&nbsp; 9995540 |
| Genuine Parts Co.<sup>(c)</sup> <br>| 4.21% | 03/05/2026 | 20600 | &nbsp;&nbsp; 20586159 |
|  |  |  |  | &nbsp;&nbsp; 30581699 |
| **Diversified Banks-1.10%** | **Diversified Banks-1.10%** | **Diversified Banks-1.10%** | **Diversified Banks-1.10%** | **Diversified Banks-1.10%** |
| HSBC USA, Inc.<sup>(c)</sup> <br>| 4.27% | 08/27/2026 | 10500 | &nbsp;&nbsp; 10300471 |
| Intesa Sanpaolo Funding LLC (Italy) | 4.04% | 10/02/2026 | 10000 | &nbsp;&nbsp; 9756263 |
|  |  |  |  | &nbsp;&nbsp; 20056734 |
| **Diversified Capital Markets-1.58%** | **Diversified Capital Markets-1.58%** | **Diversified Capital Markets-1.58%** | **Diversified Capital Markets-1.58%** | **Diversified Capital Markets-1.58%** |
| VW Credit, Inc. (Germany)<sup>(c)</sup> <br>| 4.21% | 10/01/2026 | 9000 | &nbsp;&nbsp; 8794152 |
| Washington Morgan Capital Co. LLC; Series A (SOFR + 0.45%)<sup>(b)(c)</sup> <br>| 4.12% | 07/17/2026 | 10000 | &nbsp;&nbsp; 10007207 |
| Washington Morgan Capital Co. LLC; Series A (SOFR + 0.50%)<sup>(b)(c)</sup> <br>| 4.17% | 09/10/2026 | 10000 | &nbsp;&nbsp; 10010585 |
|  |  |  |  | &nbsp;&nbsp; 28811944 |
| **Diversified Financial Services-0.54%** | **Diversified Financial Services-0.54%** | **Diversified Financial Services-0.54%** | **Diversified Financial Services-0.54%** | **Diversified Financial Services-0.54%** |
| White Plains Capital Co. LLC<sup>(c)</sup> <br>| 4.08% | 07/07/2026 | 10000 | &nbsp;&nbsp; 9856759 |
| **Electric Utilities-2.55%** | **Electric Utilities-2.55%** | **Electric Utilities-2.55%** | **Electric Utilities-2.55%** | **Electric Utilities-2.55%** |
| Brookfield BRP Holdings (Canada), Inc. (Canada) | 4.03% | 03/10/2026 | 15000 | &nbsp;&nbsp; 14982649 |
| Brookfield BRP Holdings (Canada), Inc. (Canada) | 4.03% | 03/11/2026 | 1600 | &nbsp;&nbsp; 1597979 |
| Brookfield BRP Holdings (Canada), Inc. (Canada) | 4.04% | 03/18/2026 | 5000 | &nbsp;&nbsp; 4989928 |
| Brookfield BRP Holdings (Canada), Inc. (Canada) | 4.00% | 04/22/2026 | 10000 | &nbsp;&nbsp; 9942670 |
| Evergy Missouri West, Inc.<sup>(c)</sup> <br>| 4.06% | 03/11/2026 | 10000 | &nbsp;&nbsp; 9987368 |
| Evergy Missouri West, Inc.<sup>(c)</sup> <br>| 4.06% | 03/17/2026 | 5000 | &nbsp;&nbsp; 4990467 |
|  |  |  |  | &nbsp;&nbsp; 46491061 |
| **Health Care REITs-0.19%** | **Health Care REITs-0.19%** | **Health Care REITs-0.19%** | **Health Care REITs-0.19%** | **Health Care REITs-0.19%** |
| Alexandria Real Estate Equities, Inc.<sup>(c)</sup> <br>| 3.95% | 03/06/2026 | 3450 | &nbsp;&nbsp; 3447393 |
| **Health Care Services-2.32%** | **Health Care Services-2.32%** | **Health Care Services-2.32%** | **Health Care Services-2.32%** | **Health Care Services-2.32%** |
| HCA, Inc.<sup>(c)</sup> <br>| 4.07% | 03/02/2026 | 9000 | &nbsp;&nbsp; 8996998 |
| HCA, Inc.<sup>(c)</sup> <br>| 4.09% | 03/03/2026 | 5000 | &nbsp;&nbsp; 4997768 |
| HCA, Inc.<sup>(c)</sup> <br>| 4.13% | 03/23/2026 | 10000 | &nbsp;&nbsp; 9972485 |
| HCA, Inc.<sup>(c)</sup> <br>| 4.18% | 04/20/2026 | 10000 | &nbsp;&nbsp; 9939651 |
| HCA, Inc.<sup>(c)</sup> <br>| 4.30% | 05/05/2026 | 8500 | &nbsp;&nbsp; 8433996 |
|  |  |  |  | &nbsp;&nbsp; 42340898 |
| **Integrated Telecommunication Services-1.32%** | **Integrated Telecommunication Services-1.32%** | **Integrated Telecommunication Services-1.32%** | **Integrated Telecommunication Services-1.32%** | **Integrated Telecommunication Services-1.32%** |
| TELUS Corp. (Canada)<sup>(c)</sup> <br>| 4.50% | 04/09/2026 | 3000 | &nbsp;&nbsp; 2985967 |
| TELUS Corp. (Canada)<sup>(c)</sup> <br>| 4.04% | 05/27/2026 | 11500 | &nbsp;&nbsp; 11382865 |
| TELUS Corp. (Canada)<sup>(c)</sup> <br>| 4.13% | 08/18/2026 | 10000 | &nbsp;&nbsp; 9805067 |
|  |  |  |  | &nbsp;&nbsp; 24173899 |
| **Leisure Products-1.64%** | **Leisure Products-1.64%** | **Leisure Products-1.64%** | **Leisure Products-1.64%** | **Leisure Products-1.64%** |
| Brunswick Corp.<sup>(c)</sup> <br>| 4.15% | 03/03/2026 | 10000 | &nbsp;&nbsp; 9995294 |
| Brunswick Corp.<sup>(c)</sup> <br>| 4.20% | 03/05/2026 | 20000 | &nbsp;&nbsp; 19985872 |
|  |  |  |  | &nbsp;&nbsp; 29981166 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**6**

**Invesco Conservative Income Fund**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Paper & Plastic Packaging Products & Materials-0.19%** | **Paper & Plastic Packaging Products & Materials-0.19%** | **Paper & Plastic Packaging Products & Materials-0.19%** | **Paper & Plastic Packaging Products & Materials-0.19%** | **Paper & Plastic Packaging Products & Materials-0.19%** | **Paper & Plastic Packaging Products & Materials-0.19%** |
| Sonoco Products Co. | 4.05% | 03/02/2026 |  | $3500 | &nbsp;&nbsp; $3498828 |
| **Pharmaceuticals-0.54%** | **Pharmaceuticals-0.54%** | **Pharmaceuticals-0.54%** | **Pharmaceuticals-0.54%** | **Pharmaceuticals-0.54%** | **Pharmaceuticals-0.54%** |
| Bayer Corp. (Germany)<sup>(c)</sup> <br>| 4.54% | 08/03/2026 |  | 10000 | &nbsp;&nbsp; 9834278 |
| **Systems Software-0.68%** | **Systems Software-0.68%** | **Systems Software-0.68%** | **Systems Software-0.68%** | **Systems Software-0.68%** | **Systems Software-0.68%** |
| Oracle Corp.<sup>(c)</sup> <br>| 4.38% | 07/22/2026 |  | 3700 | &nbsp;&nbsp; 3640314 |
| Oracle Corp.<sup>(c)</sup> <br>| 4.38% | 07/23/2026 |  | 9000 | &nbsp;&nbsp; 8853855 |
|  |  |  |  |  | &nbsp;&nbsp; 12494169 |
| **Telecom Tower REITs-0.98%** | **Telecom Tower REITs-0.98%** | **Telecom Tower REITs-0.98%** | **Telecom Tower REITs-0.98%** | **Telecom Tower REITs-0.98%** | **Telecom Tower REITs-0.98%** |
| Crown Castle, Inc.<sup>(c)</sup> <br>| 4.10% | 03/17/2026 |  | 10000 | &nbsp;&nbsp; 9979124 |
| Crown Castle, Inc.<sup>(c)</sup> <br>| 4.09% | 03/19/2026 |  | 8000 | &nbsp;&nbsp; 7981447 |
|  |  |  |  |  | &nbsp;&nbsp; 17960571 |
| **Trading Companies & Distributors-0.78%** | **Trading Companies & Distributors-0.78%** | **Trading Companies & Distributors-0.78%** | **Trading Companies & Distributors-0.78%** | **Trading Companies & Distributors-0.78%** | **Trading Companies & Distributors-0.78%** |
| Air Lease Corp.<sup>(c)</sup> <br>| 4.11% | 03/04/2026 |  | 6300 | &nbsp;&nbsp; 6296495 |
| Air Lease Corp.<sup>(c)</sup> <br>| 4.10% | 03/09/2026 |  | 8000 | &nbsp;&nbsp; 7991038 |
|  |  |  |  |  | &nbsp;&nbsp; 14287533 |
| **Transaction & Payment Processing Services-1.75%** | **Transaction & Payment Processing Services-1.75%** | **Transaction & Payment Processing Services-1.75%** | **Transaction & Payment Processing Services-1.75%** | **Transaction & Payment Processing Services-1.75%** | **Transaction & Payment Processing Services-1.75%** |
| Global Payments, Inc. | 4.07% | 03/04/2026 |  | 20000 | &nbsp;&nbsp; 19988908 |
| Global Payments, Inc. | 4.07% | 03/05/2026 |  | 5000 | &nbsp;&nbsp; 4996674 |
| Global Payments, Inc. | 4.07% | 03/06/2026 |  | 7000 | &nbsp;&nbsp; 6994569 |
|  |  |  |  |  | &nbsp;&nbsp; 31980151 |
| Total Commercial Paper (Cost $325,782,387) | Total Commercial Paper (Cost $325,782,387) | Total Commercial Paper (Cost $325,782,387) | Total Commercial Paper (Cost $325,782,387) |  | &nbsp;&nbsp; 325797083 |
| **Asset-Backed Securities-10.27%** | **Asset-Backed Securities-10.27%** | **Asset-Backed Securities-10.27%** | **Asset-Backed Securities-10.27%** | **Asset-Backed Securities-10.27%** | **Asset-Backed Securities-10.27%** |
| **Auto Loans/Leases-6.85%** | **Auto Loans/Leases-6.85%** | **Auto Loans/Leases-6.85%** | **Auto Loans/Leases-6.85%** | **Auto Loans/Leases-6.85%** | **Auto Loans/Leases-6.85%** |
| AutoNation Finance Trust; |  |  |  |  |  |
| Series 2025-1A, Class A2<sup>(c)</sup> <br>| 4.72% | 04/10/2028 |  | 3065 | &nbsp;&nbsp; 3070871 |
| Series 2026-1A, Class A2<sup>(c)</sup> <br>| 3.95% | 01/11/2029 |  | 3100 | &nbsp;&nbsp; 3104120 |
| BMW Vehicle Lease Trust; Series 2024-2, Class A2A | 4.29% | 01/25/2027 |  | 521 | &nbsp;&nbsp; 521042 |
| CarMax Auto Owner Trust; |  |  |  |  |  |
| Series 2024-1, Class A3 | 4.92% | 10/16/2028 |  | 7730 | &nbsp;&nbsp; 7785445 |
| Series 2025-2, Class A2A | 4.59% | 07/17/2028 |  | 2600 | &nbsp;&nbsp; 2608302 |
| CCG Receivables Trust; Series 2025-1, Class A2<sup>(c)</sup> <br>| 4.48% | 10/14/2032 |  | 3835 | &nbsp;&nbsp; 3856001 |
| Chesapeake Funding II LLC (Canada); |  |  |  |  |  |
| Series 2023-1A, Class A1<sup>(c)</sup> <br>| 5.65% | 05/15/2035 |  | 1358 | &nbsp;&nbsp; 1364745 |
| Series 2023-2A, Class A2 (30 Day Average SOFR + 1.10%)<sup>(b)(c)</sup> <br>| 4.76% | 10/15/2035 |  | 4630 | &nbsp;&nbsp; 4650025 |
| Series 2024-1A, Class A2 (30 Day Average SOFR + 0.77%)<sup>(b)(c)</sup> <br>| 4.43% | 05/15/2036 |  | 1290 | &nbsp;&nbsp; 1292563 |
| Citizens Auto Receivables Trust; Series 2024-2, Class A3<sup>(c)</sup> <br>| 5.33% | 08/15/2028 |  | 5220 | &nbsp;&nbsp; 5247510 |
| DLLST LLC; Series 2024-1A, Class A3<sup>(c)</sup> <br>| 5.05% | 08/20/2027 |  | 3004 | &nbsp;&nbsp; 3016820 |
| Enterprise Fleet Financing LLC; |  |  |  |  |  |
| Series 2023-3, Class A2<sup>(c)</sup> <br>| 6.40% | 03/20/2030 |  | 3527 | &nbsp;&nbsp; 3568435 |
| Series 2024-1, Class A2<sup>(c)</sup> <br>| 5.23% | 03/20/2030 |  | 1696 | &nbsp;&nbsp; 1708475 |
| Series 2024-3, Class A2<sup>(c)</sup> <br>| 5.31% | 04/20/2027 |  | 1230 | &nbsp;&nbsp; 1233915 |
| Series 2024-4, Class A2<sup>(c)</sup> <br>| 4.69% | 07/20/2027 |  | 2551 | &nbsp;&nbsp; 2559785 |
| Series 2025-4, Class A2<sup>(c)</sup> <br>| 4.05% | 08/20/2028 |  | 3600 | &nbsp;&nbsp; 3611089 |
| Series 2026-1, Class A2<sup>(c)</sup> <br>| 4.00% | 10/20/2028 |  | 6250 | &nbsp;&nbsp; 6269610 |
| GM Financial Automobile Leasing Trust; Series 2025-2, Class A2B (30 Day Average SOFR + <br> 0.50%)<sup>(b)</sup> <br>| 4.16% | 07/20/2027 |  | 1942 | &nbsp;&nbsp; 1944480 |
| GreatAmerica Leasing Receivables Funding LLC; |  |  |  |  |  |
| Series 2024-2, Class A3<sup>(c)</sup> <br>| 5.00% | 09/15/2028 |  | 4000 | &nbsp;&nbsp; 4059100 |
| Series 2025-1, Class A2<sup>(c)</sup> <br>| 4.52% | 10/15/2027 |  | 2219 | &nbsp;&nbsp; 2226426 |
| Harley-Davidson Motorcycle Trust; Series 2025-A, Class A2A | 4.71% | 07/17/2028 |  | 1662 | &nbsp;&nbsp; 1666480 |
| Hyundai Auto Lease Securitization Trust; |  |  |  |  |  |
| Series 2024-C, Class A2B (30 Day Average SOFR + 0.50%)<sup>(b)(c)</sup> <br>| 4.16% | 03/15/2027 |  | 1297 | &nbsp;&nbsp; 1297968 |
| Series 2025-B, Class A3<sup>(c)</sup> <br>| 4.53% | 04/17/2028 |  | 3200 | &nbsp;&nbsp; 3229065 |
| Hyundai Auto Receivables Trust; Series 2025-A, Class A2B (30 Day Average SOFR + 0.34%)<sup>(b)</sup> <br>| 4.00% | 12/15/2027 |  | 4649 | &nbsp;&nbsp; 4651275 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**7**

**Invesco Conservative Income Fund**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Auto Loans/Leases-(continued)** | **Auto Loans/Leases-(continued)** | **Auto Loans/Leases-(continued)** | **Auto Loans/Leases-(continued)** | **Auto Loans/Leases-(continued)** | **Auto Loans/Leases-(continued)** |
| John Deere Owner Trust; Series 2025-A, Class A2B (30 Day Average SOFR + 0.29%)<sup>(b)</sup> <br>| 3.95% | 03/15/2028 |  | $3010 | &nbsp;&nbsp; $3010473 |
| M&T Equipment LLC; Series 2025-1A, Class A2<sup>(c)</sup> <br>| 4.70% | 12/16/2027 |  | 3851 | &nbsp;&nbsp; 3870261 |
| Mercedes-Benz Auto Lease Trust; Series 2024-A, Class A2A | 5.44% | 02/16/2027 |  | 118 | &nbsp;&nbsp; 117594 |
| Porsche Innovative Lease Owner Trust; Series 2024-1A, Class A3<sup>(c)</sup> <br>| 4.67% | 11/22/2027 |  | 2500 | &nbsp;&nbsp; 2507253 |
| Toyota Auto Receivables Owner Trust; Series 2025-B, Class A2A | 4.46% | 03/15/2028 |  | 4672 | &nbsp;&nbsp; 4684388 |
| Westlake Automobile Receivables Trust; Series 2025-P1, Class A2<sup>(c)</sup> <br>| 4.65% | 02/15/2028 |  | 4256 | &nbsp;&nbsp; 4265567 |
| Wheels Fleet Lease Funding 1 LLC; |  |  |  |  |  |
| Series 2023-2A, Class A<sup>(c)</sup> <br>| 6.46% | 08/18/2038 |  | 3490 | &nbsp;&nbsp; 3528239 |
| Series 2024-1A, Class A2 (1 mo. Term SOFR + 0.83%)<sup>(b)(c)</sup> <br>| 4.49% | 02/18/2039 |  | 2637 | &nbsp;&nbsp; 2646408 |
| Series 2024-2A, Class A2 (1 mo. Term SOFR + 1.00%)<sup>(b)(c)</sup> <br>| 4.66% | 06/21/2039 |  | 2822 | &nbsp;&nbsp; 2839651 |
| Series 2025-1A, Class A1<sup>(c)</sup> <br>| 4.57% | 01/18/2040 |  | 6365 | &nbsp;&nbsp; 6432430 |
| Series 2025-2A, Class A1<sup>(c)</sup> <br>| 4.41% | 05/18/2040 |  | 10000 | &nbsp;&nbsp; 10103296 |
| Series 2025-3A, Class A1<sup>(c)</sup> <br>| 4.08% | 09/18/2040 |  | 5350 | &nbsp;&nbsp; 5375561 |
| World Omni Automobile Lease Securitization Trust; Series 2025-A, Class A2B (30 Day Average <br> SOFR + 0.39%)<sup>(b)</sup> <br>| 4.05% | 12/15/2027 |  | 1141 | &nbsp;&nbsp; 1141189 |
|  |  |  |  |  | &nbsp;&nbsp; 125065857 |
| **Collateralized Mortgage Obligations-1.99%** | **Collateralized Mortgage Obligations-1.99%** | **Collateralized Mortgage Obligations-1.99%** | **Collateralized Mortgage Obligations-1.99%** | **Collateralized Mortgage Obligations-1.99%** | **Collateralized Mortgage Obligations-1.99%** |
| Barings Equipment Finance LLC; Series 2025-B, Class A2<sup>(c)</sup> <br>| 4.02% | 02/13/2029 |  | 3200 | &nbsp;&nbsp; 3207300 |
| FCCU Auto Receivables Trus; Series 2026-1A, Class A2<sup>(c)</sup> <br>| 3.98% | 10/15/2029 |  | 5680 | &nbsp;&nbsp; 5681845 |
| Merchants Fleet Funding LLC; Series 2025-1A, Class A<sup>(c)</sup> <br>| 4.49% | 01/20/2039 |  | 2500 | &nbsp;&nbsp; 2522158 |
| Navistar Financial Dealer Note Master Owner Trust II; Series 2025-1, Class A<sup>(c)</sup> <br>| 4.18% | 09/25/2030 |  | 2900 | &nbsp;&nbsp; 2915330 |
| Nissan Auto Lease Trust; Series 2026-A, Class A2B (30 Day Average SOFR + 0.45%)<sup>(b)</sup> <br>| 4.12% | 05/15/2028 |  | 8200 | &nbsp;&nbsp; 8208016 |
| SFS Auto Receivables Securitization Trust; Series 2026-1A, Class A2B (30 Day Average SOFR + <br> 0.46%)<sup>(b)(c)</sup> <br>| 4.13% | 08/20/2029 |  | 9000 | &nbsp;&nbsp; 9007515 |
| SoFi Consumer Loan Program Trust; Series 2026-1, Class A<sup>(c)</sup> <br>| 4.06% | 12/26/2035 |  | 4800 | &nbsp;&nbsp; 4804000 |
|  |  |  |  |  | &nbsp;&nbsp; 36346164 |
| **Equipment Leasing-0.24%** | **Equipment Leasing-0.24%** | **Equipment Leasing-0.24%** | **Equipment Leasing-0.24%** | **Equipment Leasing-0.24%** | **Equipment Leasing-0.24%** |
| Dell Equipment Finance Trust; |  |  |  |  |  |
| Series 2024-1, Class A3<sup>(c)</sup> <br>| 5.39% | 03/22/2030 |  | 1818 | &nbsp;&nbsp; 1830443 |
| Series 2025-1, Class A3<sup>(c)</sup> <br>| 4.61% | 02/24/2031 |  | 2480 | &nbsp;&nbsp; 2511079 |
|  |  |  |  |  | &nbsp;&nbsp; 4341522 |
| **Specialized Finance-1.19%** | **Specialized Finance-1.19%** | **Specialized Finance-1.19%** | **Specialized Finance-1.19%** | **Specialized Finance-1.19%** | **Specialized Finance-1.19%** |
| First National Master Note Trust; Series 2024-1, Class A | 5.34% | 05/15/2030 |  | 3870 | &nbsp;&nbsp; 3938266 |
| Navient Private Education Refi Loan Trust; |  |  |  |  |  |
| Series 2020-FA, Class A<sup>(c)</sup> <br>| 1.22% | 07/15/2069 |  | 3249 | &nbsp;&nbsp; 3094898 |
| Series 2021-FA, Class A<sup>(c)</sup> <br>| 1.11% | 02/18/2070 |  | 2356 | &nbsp;&nbsp; 2141124 |
| Synchrony Card Funding LLC; Series 2024-A1, Class A | 5.04% | 03/15/2030 |  | 10000 | &nbsp;&nbsp; 10119939 |
| Volvo Financial Equipment LLC; Series 2025-1A, Class A2<sup>(c)</sup> <br>| 4.41% | 11/15/2027 |  | 2536 | &nbsp;&nbsp; 2540847 |
|  |  |  |  |  | &nbsp;&nbsp; 21835074 |
| Total Asset-Backed Securities (Cost $186,980,484) | Total Asset-Backed Securities (Cost $186,980,484) | Total Asset-Backed Securities (Cost $186,980,484) | Total Asset-Backed Securities (Cost $186,980,484) |  | &nbsp;&nbsp; 187588617 |
| **Certificates of Deposit-2.19%** | **Certificates of Deposit-2.19%** | **Certificates of Deposit-2.19%** | **Certificates of Deposit-2.19%** | **Certificates of Deposit-2.19%** | **Certificates of Deposit-2.19%** |
| **Diversified Banks-2.19%** | **Diversified Banks-2.19%** | **Diversified Banks-2.19%** | **Diversified Banks-2.19%** | **Diversified Banks-2.19%** | **Diversified Banks-2.19%** |
| Deutsche Bank AG (Germany) | 4.44% | 08/03/2026 |  | 10000 | &nbsp;&nbsp; 10022073 |
| Intesa Sanpaolo S.p.A. (Italy) (SOFR + 0.70%)<sup>(b)</sup> <br>| 4.38% | 07/17/2026 |  | 10000 | &nbsp;&nbsp; 10009560 |
| Intesa Sanpaolo S.p.A. (Italy) (SOFR + 0.41%)<sup>(b)</sup> <br>| 4.09% | 02/16/2027 |  | 10000 | &nbsp;&nbsp; 10005660 |
| Natixis S.A. (France) (SOFR + 0.60%)<sup>(b)</sup> <br>| 4.28% | 10/18/2027 |  | 10000 | &nbsp;&nbsp; 10029294 |
| Total Certificates of Deposit (Cost $40,000,000) | Total Certificates of Deposit (Cost $40,000,000) | Total Certificates of Deposit (Cost $40,000,000) | Total Certificates of Deposit (Cost $40,000,000) |  | &nbsp;&nbsp; 40066587 |
| TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-94.81% <br>(Cost $1,725,146,567) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-94.81% <br>(Cost $1,725,146,567) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-94.81% <br>(Cost $1,725,146,567) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-94.81% <br>(Cost $1,725,146,567) |  | &nbsp;&nbsp; 1731411138 |
|  |  |  | &nbsp;&nbsp; **Repurchase**<br> **Amount** | &nbsp;&nbsp; **Repurchase**<br> **Amount** |  |
| **Repurchase Agreements-5.20%**<sup>(f)</sup>  | **Repurchase Agreements-5.20%**<sup>(f)</sup>  | **Repurchase Agreements-5.20%**<sup>(f)</sup>  | **Repurchase Agreements-5.20%**<sup>(f)</sup>  | **Repurchase Agreements-5.20%**<sup>(f)</sup>  | **Repurchase Agreements-5.20%**<sup>(f)</sup>  |
| BofA Securities, Inc., term agreement dated 02/02/2026, maturing value of $20,006,900 <br> (collateralized by an agency mortgage-backed security and corporate obligations valued at <br> $21,908,058; 2.60% - 12.50%; 07/23/2026 - 01/25/2052)<sup>(g)</sup> <br>| 4.14% | 03/02/2026 |  | 20006900 | &nbsp;&nbsp; 20000000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**8**

**Invesco Conservative Income Fund**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp; **Repurchase**<br> **Amount** | &nbsp;&nbsp; **Repurchase**<br> **Amount** | **Value** |
| CF Secured LLC, joint open agreement dated 02/07/2025 (collateralized by non-agency <br> mortgage-backed securities and agency and non-agency asset-backed securities valued at <br> $27,554,157; 0.00% - 9.49%; 04/25/2029 - 02/25/2056)<sup>(h)</sup> <br>| 4.42% | 03/02/2026 |  | $15051504 | &nbsp;&nbsp; $15000000 |
| Citigroup Global Markets, Inc., joint open agreement dated 05/15/2024 (collateralized by a <br> non-agency asset-backed security and non-agency mortgage-backed securities valued at <br> $198,000,618; 0.21% - 8.38%; 07/29/2026 - 03/25/2061)<sup>(h)</sup> <br>| 4.33% | 03/02/2026 |  | 20067400 | &nbsp;&nbsp; 20000000 |
| Nomura Securities International, Inc., joint term agreement dated 02/25/2026, aggregate <br> maturing value of $30,010,950 (collateralized by a non-agency asset-backed security and <br> non-agency mortgage-backed securities valued at $33,000,000; 0.00% - 10.33%; <br> 06/25/2029 - 01/25/2070)<sup>(g)</sup> <br>| 4.38% | 03/02/2026 |  | 20007300 | &nbsp;&nbsp; 20000000 |
| Santander US Capital Markets LLC, joint term agreement dated 02/17/2026, aggregate <br> maturing value of $30,010,925 (collateralized by a corporate obligation, non-agency <br> asset-backed securities and a non-agency mortgage-backed security valued at <br> $33,360,589; 0.00% - 14.05%; 10/15/2026 - 12/27/2060)<sup>(g)</sup> <br>| 4.37% | 03/02/2026 |  | 20007283 | &nbsp;&nbsp; 20000000 |
| Total Repurchase Agreements (Cost $95,000,000) | Total Repurchase Agreements (Cost $95,000,000) | Total Repurchase Agreements (Cost $95,000,000) | Total Repurchase Agreements (Cost $95,000,000) |  | &nbsp;&nbsp; 95000000 |
| TOTAL INVESTMENTS IN SECURITIES-100.01% (Cost $1,820,146,567) | TOTAL INVESTMENTS IN SECURITIES-100.01% (Cost $1,820,146,567) | TOTAL INVESTMENTS IN SECURITIES-100.01% (Cost $1,820,146,567) | TOTAL INVESTMENTS IN SECURITIES-100.01% (Cost $1,820,146,567) |  | &nbsp;&nbsp; 1826411138 |
| OTHER ASSETS LESS LIABILITIES-(0.01)% | OTHER ASSETS LESS LIABILITIES-(0.01)% | OTHER ASSETS LESS LIABILITIES-(0.01)% | OTHER ASSETS LESS LIABILITIES-(0.01)% |  | &nbsp;&nbsp; (273087)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% |  | &nbsp;&nbsp; $1826138051 |

---

Investment Abbreviations:

REITs -Real Estate Investment Trusts <br> SOFR -Secured Overnight Financing Rate

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> Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2026.

<sup>(c)</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 February 28, 2026 was $845,957,821, which represented 46.33% of the Fund's Net Assets. 

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

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

<sup>(f)</sup> Principal amount equals value at period end. See Note 1J.

<sup>(g)</sup> Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

<sup>(h)</sup> Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**9**

**Invesco Conservative Income Fund**

------

**Statement of Assets and Liabilities**

*February 28, 2026*

*(Unaudited)*

---

| | |
|:---|:---|
| **Assets:** |  |
| Investments in unaffiliated securities, excluding <br> repurchase agreements, at value <br> (Cost $1,725,146,567)<br>| &nbsp;&nbsp; $1731411138 |
| Repurchase agreements, at value and cost | &nbsp;&nbsp; 95000000 |
| Cash | &nbsp;&nbsp; 257081 |
| Receivable for: |  |
| Fund shares sold | &nbsp;&nbsp; 1956658 |
| Interest | &nbsp;&nbsp; 11802908 |
| Investment for trustee deferred compensation and <br> retirement plans<br>| &nbsp;&nbsp; 21425 |
| Other assets | &nbsp;&nbsp; 2595 |
| Total assets | &nbsp;&nbsp; 1840451805 |
| **Liabilities:** |  |
| Payable for: |  |
| Investments purchased | &nbsp;&nbsp; 8852000 |
| Fund shares reacquired | &nbsp;&nbsp; 2899215 |
| Dividends | &nbsp;&nbsp; 2036594 |
| Accrued fees to affiliates | &nbsp;&nbsp; 438443 |
| Accrued trustees' and officers' fees and benefits | &nbsp;&nbsp; 3524 |
| Accrued operating expenses | &nbsp;&nbsp; 62553 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 21425 |
| Total liabilities | &nbsp;&nbsp; 14313754 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $1826138051 |

---

---

| | |
|:---|:---|
| **Net assets consist of:** |  |
| Shares of beneficial interest | &nbsp;&nbsp; $1835022610 |
| Distributable earnings (loss) | &nbsp;&nbsp; (8884559)<br>|
|  | &nbsp;&nbsp; $1826138051 |
| **Net Assets:** | **Net Assets:** |
| Class A | &nbsp;&nbsp; $393062257 |
| Class Y | &nbsp;&nbsp; $264629386 |
| Institutional Class | &nbsp;&nbsp; $1165824767 |
| Class R6 | &nbsp;&nbsp; $2621641 |
| **Shares outstanding, no par value,** <br>**unlimited number of shares authorized:** | **Shares outstanding, no par value,** <br>**unlimited number of shares authorized:** |
| Class A | &nbsp;&nbsp; 39040515 |
| Class Y | &nbsp;&nbsp; 26292565 |
| Institutional Class | &nbsp;&nbsp; 115822455 |
| Class R6 | &nbsp;&nbsp; 260061 |
| Class A: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $10.07 |
| Class Y: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $10.06 |
| Institutional Class: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $10.07 |
| Class R6: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $10.08 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**10**

**Invesco Conservative Income Fund**

------

**Statement of Operations**

*For the six months ended February 28, 2026*

*(Unaudited)* 

---

| | |
|:---|:---|
| **Investment income:** |  |
| Interest | &nbsp;&nbsp; $41789777 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 2093505 |
| Administrative services fees | &nbsp;&nbsp; 123856 |
| Custodian fees | &nbsp;&nbsp; 7101 |
| Distribution fees: |  |
| Class A | &nbsp;&nbsp; 186837 |
| Transfer agent fees - Class A | &nbsp;&nbsp; 190520 |
| Transfer agent fees - Class Y | &nbsp;&nbsp; 129885 |
| Transfer agent fees - Institutional Class | &nbsp;&nbsp; 51165 |
| Transfer agent fees - Class R6 | &nbsp;&nbsp; 390 |
| Trustees' and officers' fees and benefits | &nbsp;&nbsp; 17186 |
| Registration and filing fees | &nbsp;&nbsp; 68965 |
| Reports to shareholders | &nbsp;&nbsp; 34995 |
| Professional services fees | &nbsp;&nbsp; 37101 |
| Other | &nbsp;&nbsp; 11271 |
| Total expenses | &nbsp;&nbsp; 2952777 |
| Less : Fees waived, expenses reimbursed and/or expense offset arrangement(s) | &nbsp;&nbsp; (183857)<br>|
| Net expenses | &nbsp;&nbsp; 2768920 |
| Net investment income | &nbsp;&nbsp; 39020857 |
| **Realized and unrealized gain (loss) from:** |  |
| Net realized gain from unaffiliated investment securities | &nbsp;&nbsp; 371326 |
| Change in net unrealized appreciation (depreciation) of unaffiliated investment securities | &nbsp;&nbsp; (1182641)<br>|
| Net realized and unrealized gain (loss) | &nbsp;&nbsp; (811315)<br>|
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $38209542 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**11**

**Invesco Conservative Income Fund**

------

**Statement of Changes in Net Assets**

*For the six months ended February 28, 2026 and the year ended August 31, 2025*

*(Unaudited)* 

---

| | | |
|:---|:---|:---|
|  | **February 28,** <br>**2026**<br>| **August 31,** <br>**2025**<br>|
| **Operations:** |  |  |
| Net investment income | &nbsp;&nbsp; $39020857 | &nbsp;&nbsp; $86924549 |
| Net realized gain | &nbsp;&nbsp; 371326 | &nbsp;&nbsp; 73263 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp; (1182641)<br>| &nbsp;&nbsp; (421297)<br>|
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 38209542 | &nbsp;&nbsp; 86576515 |
| **Distributions to shareholders from distributable earnings:** |  |  |
| Class A | &nbsp;&nbsp; (8039347)<br>| &nbsp;&nbsp; (15370922)<br>|
| Class Y | &nbsp;&nbsp; (5610190)<br>| &nbsp;&nbsp; (11543856)<br>|
| Institutional Class | &nbsp;&nbsp; (25313796)<br>| &nbsp;&nbsp; (59844949)<br>|
| Class R6 | &nbsp;&nbsp; (57540)<br>| &nbsp;&nbsp; (164822)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (39020873)<br>| &nbsp;&nbsp; (86924549)<br>|
| **Share transactions-net:** |  |  |
| Class A | &nbsp;&nbsp; 19520895 | &nbsp;&nbsp; 92721084 |
| Class Y | &nbsp;&nbsp; 17817017 | &nbsp;&nbsp; 25406791 |
| Institutional Class | &nbsp;&nbsp; (6854439)<br>| &nbsp;&nbsp; (97764235)<br>|
| Class R6 | &nbsp;&nbsp; (5829)<br>| &nbsp;&nbsp; (1554432)<br>|
| Net increase in net assets resulting from share transactions | &nbsp;&nbsp; 30477644 | &nbsp;&nbsp; 18809208 |
| Net increase in net assets | &nbsp;&nbsp; 29666313 | &nbsp;&nbsp; 18461174 |
| **Net assets:** |  |  |
| Beginning of period | &nbsp;&nbsp; 1796471738 | &nbsp;&nbsp; 1778010564 |
| End of period | &nbsp;&nbsp; $1826138051 | &nbsp;&nbsp; $1796471738 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**12**

**Invesco Conservative Income Fund**

------

**Financial Highlights**

*(Unaudited)*

The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**to average** <br>**net assets**<br>| **Portfolio** <br>**turnover**<sup>(c)</sup> <br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six months ended 02/28/26 | $10.07 | $0.22 | $(0.00)<br>| $0.22 | $(0.22)<br>| $- | $(0.22)<br>| $10.07 | 2.16<br> %<br>| &nbsp;&nbsp; $393062 | 0.42 %<sup>(d)</sup><br>| 0.47 %<sup>(d)</sup><br>| 4.31 %<sup>(d)</sup><br>| 22<br> %<br>|
| Year ended 08/31/25 | 10.07 | 0.49 | 0.00 | 0.49 | (0.49)<br>| - | (0.49)<br>| 10.07 | 4.94 | &nbsp;&nbsp; 373706 | 0.40 | 0.47 | 4.83 | 48 |
| Year ended 08/31/24 | 10.00 | 0.52 | 0.08 | 0.60 | (0.53)<br>| - | (0.53)<br>| 10.07 | 6.10 | &nbsp;&nbsp; 280961 | 0.40 | 0.47 | 5.23 | 75 |
| Year ended 08/31/23 | 9.93 | 0.32 | 0.08 | 0.40 | (0.33)<br>| - | (0.33)<br>| 10.00 | 4.08 | &nbsp;&nbsp; 308223 | 0.40 | 0.44 | 3.26 | 63 |
| Year ended 08/31/22 | 10.08 | 0.05 | (0.14)<br>| (0.09)<br>| (0.05)<br>| (0.01)<br>| (0.06)<br>| 9.93 | (0.86)<br>| &nbsp;&nbsp; 555442 | 0.40 | 0.44 | 0.51 | 53 |
| Year ended 08/31/21 | 10.10 | 0.03 | (0.02)<br>| 0.01 | (0.03)<br>| (0.00)<br>| (0.03)<br>| 10.08 | 0.10 | &nbsp;&nbsp; 1065418 | 0.40 | 0.44 | 0.29 | 68 |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| Six months ended 02/28/26 | 10.07 | 0.22 | (0.01)<br>| 0.21 | (0.22)<br>| - | (0.22)<br>| 10.06 | 2.10 | &nbsp;&nbsp; 264629 | 0.32 <br><sup>(d)</sup><br>| 0.37 <br><sup>(d)</sup><br>| 4.41 <br><sup>(d)</sup><br>| 22 |
| Year ended 08/31/25 | 10.07 | 0.50 | 0.00 | 0.50 | (0.50)<br>| - | (0.50)<br>| 10.07 | 5.04 | &nbsp;&nbsp; 246929 | 0.30 | 0.37 | 4.93 | 48 |
| Year ended 08/31/24 | 9.99 | 0.53 | 0.09 | 0.62 | (0.54)<br>| - | (0.54)<br>| 10.07 | 6.32 | &nbsp;&nbsp; 221582 | 0.30 | 0.37 | 5.33 | 75 |
| Year ended 08/31/23 | 9.93 | 0.33 | 0.07 | 0.40 | (0.34)<br>| - | (0.34)<br>| 9.99 | 4.08 | &nbsp;&nbsp; 279619 | 0.30 | 0.34 | 3.36 | 63 |
| Year ended 08/31/22 | 10.08 | 0.06 | (0.14)<br>| (0.08)<br>| (0.06)<br>| (0.01)<br>| (0.07)<br>| 9.93 | (0.76)<br>| &nbsp;&nbsp; 399304 | 0.30 | 0.34 | 0.61 | 53 |
| Year ended 08/31/21 | 10.09 | 0.04 | (0.01)<br>| 0.03 | (0.04)<br>| (0.00)<br>| (0.04)<br>| 10.08 | 0.34 | &nbsp;&nbsp; 575250 | 0.26 | 0.34 | 0.43 | 68 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six months ended 02/28/26 | 10.07 | 0.22 | (0.00)<br>| 0.22 | (0.22)<br>| - | (0.22)<br>| 10.07 | 2.23 | &nbsp;&nbsp; 1165825 | 0.28 <br><sup>(d)</sup><br>| 0.28 <br><sup>(d)</sup><br>| 4.45 <br><sup>(d)</sup><br>| 22 |
| Year ended 08/31/25 | 10.07 | 0.50 | 0.00 | 0.50 | (0.50)<br>| - | (0.50)<br>| 10.07 | 5.07 | &nbsp;&nbsp; 1173209 | 0.28 | 0.28 | 4.95 | 48 |
| Year ended 08/31/24 | 9.99 | 0.54 | 0.09 | 0.63 | (0.54)<br>| - | (0.54)<br>| 10.07 | 6.33 | &nbsp;&nbsp; 1271282 | 0.29 | 0.29 | 5.34 | 75 |
| Year ended 08/31/23 | 9.93 | 0.34 | 0.06 | 0.40 | (0.34)<br>| - | (0.34)<br>| 9.99 | 4.11 | &nbsp;&nbsp; 1714351 | 0.27 | 0.27 | 3.39 | 63 |
| Year ended 08/31/22 | 10.08 | 0.07 | (0.14)<br>| (0.07)<br>| (0.07)<br>| (0.01)<br>| (0.08)<br>| 9.93 | (0.73)<br>| &nbsp;&nbsp; 1946594 | 0.27 | 0.27 | 0.64 | 53 |
| Year ended 08/31/21 | 10.09 | 0.04 | (0.01)<br>| 0.03 | (0.04)<br>| (0.00)<br>| (0.04)<br>| 10.08 | 0.34 | &nbsp;&nbsp; 2322980 | 0.26 | 0.27 | 0.43 | 68 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| Six months ended 02/28/26 | 10.09 | 0.22 | (0.01)<br>| 0.21 | (0.22)<br>| - | (0.22)<br>| 10.08 | 2.11 | &nbsp;&nbsp; 2622 | 0.30 <br><sup>(d)</sup><br>| 0.30 <br><sup>(d)</sup><br>| 4.43 <br><sup>(d)</sup><br>| 22 |
| Year ended 08/31/25 | 10.09 | 0.50 | (0.00)<br>| 0.50 | (0.50)<br>| - | (0.50)<br>| 10.09 | 5.04 | &nbsp;&nbsp; 2629 | 0.30 | 0.30 | 4.93 | 48 |
| Year ended 08/31/24 | 10.01 | 0.54 | 0.08 | 0.62 | (0.54)<br>| - | (0.54)<br>| 10.09 | 6.31 | &nbsp;&nbsp; 4185 | 0.30 | 0.31 | 5.33 | 75 |
| Year ended 08/31/23 | 9.95 | 0.34 | 0.06 | 0.40 | (0.34)<br>| - | (0.34)<br>| 10.01 | 4.08 | &nbsp;&nbsp; 2221 | 0.29 | 0.29 | 3.37 | 63 |
| Year ended 08/31/22 | 10.09 | 0.06 | (0.13)<br>| (0.07)<br>| (0.06)<br>| (0.01)<br>| (0.07)<br>| 9.95 | (0.66)<br>| &nbsp;&nbsp; 3709 | 0.29 | 0.29 | 0.62 | 53 |
| Year ended 08/31/21 | 10.11 | 0.04 | (0.02)<br>| 0.02 | (0.04)<br>| (0.00)<br>| (0.04)<br>| 10.09 | 0.24 | &nbsp;&nbsp; 7640 | 0.27 | 0.31 | 0.42 | 68 |

---

<sup>(a)</sup> Calculated using average shares outstanding.

<sup>(b)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Not annualized for periods less than one year, if applicable. 

<sup>(c)</sup> Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.

<sup>(d)</sup> Annualized.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**13**

**Invesco Conservative Income Fund**

------

**Notes to Financial Statements**

*February 28, 2026*

*(Unaudited)*

**NOTE 1—Significant Accounting Policies**

Invesco Conservative Income Fund (the "Fund") is a series portfolio of Invesco Management Trust (the "Trust"). The Trust is organized as a Delaware statutory trust and is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company authorized to issue an unlimited number of shares of beneficial interest. Matters affecting the Fund or each class will be voted on exclusively by the shareholders of the Fund or each class.

The Fund's investment objective is to provide capital preservation and current income while maintaining liquidity.

The Fund currently consists of four different classes of shares: Class A, Class Y, Institutional Class and Class R6. Class A, Class Y, Institutional Class and Class R6 shares are sold at net asset value.

The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services—Investment Companies*.

The following is a summary of the significant accounting policies followed by the Fund in the preparation of its financial statements.

**A.** **Security Valuations** - Securities, including restricted securities, are valued according to the following policy.

Fixed income securities (including convertible debt securities) generally are valued on the basis of prices provided by independent pricing services. Prices provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate (for unlisted equities), yield (for debt obligations), quality, type of issue, coupon rate (for debt obligations), maturity (for debt obligations), individual trading characteristics and other market data. Pricing services generally value debt obligations assuming orderly transactions of institutional round lot size, but a fund may hold or transact in the same securities in smaller, odd lot sizes. Odd lots often trade at lower prices than institutional round lots, and their value may be adjusted accordingly. Debt obligations are subject to interest rate and credit risks. In addition, all debt obligations involve some risk of default with respect to interest and/or principal payments.

A security listed or traded on an exchange is generally valued at its trade price or official closing price that day as of the close of the exchange where the security is principally traded, or lacking any trades or official closing price on a particular day, the security may be valued at the closing bid or ask price on that day. Securities traded in the over-the-counter market are valued based on prices furnished by independent pricing services or market makers. When such securities are valued using prices provided by an independent pricing service they may be considered fair valued. Futures contracts are valued at the daily settlement price set by an exchange on which they are principally traded. Where a final settlement price exists, exchange-traded options are valued at the final settlement price from the exchange where the option principally trades, as of the approximate official closing time of that exchange. Where a final settlement price does not exist, exchange-traded options are valued at the mean between the last bid and ask price generally from the exchange where the option principally trades.

Securities of investment companies that are not exchange-traded (e.g., open-end mutual funds) are valued using such company's end-of-business-day net asset value per share.

Deposits, other obligations of U.S. and non-U.S. banks and financial institutions are valued at their daily account value.

Foreign securities' (including foreign exchange contracts) prices are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the New York Stock Exchange ("NYSE"). If market quotations are available and reliable for foreign exchange-traded equity securities, the securities will be valued at the market quotations. Invesco Advisers, Inc. (the "Adviser" or "Invesco") may use various pricing services to obtain market quotations as well as fair value prices. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become not representative of market value in the Adviser's judgment ("unreliable"). If, between the time trading ends on a particular security and the close of the customary trading session on the NYSE, a significant event occurs that makes the closing price of the security unreliable, the Adviser may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith in accordance with Board-approved policies and related Adviser procedures ("Valuation Procedures"). Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities' prices meeting the degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, American Depositary Receipts and domestic and foreign index futures. Foreign securities may have additional risks including exchange rate changes, potential for sharply devalued currencies and high inflation, political and economic upheaval, the relative lack of issuer information, relatively low market liquidity and the potential lack of strict financial and accounting controls and standards.

Private securities will be valued using prices provided by independent pricing services or by another method that the Adviser, in its judgment, believes better reflects the security's fair value in accordance with the Valuation Procedures.

Non-traded rights and warrants shall be valued at intrinsic value if the terms of the rights and warrants are available, specifically the subscription or exercise price and the ratio. Intrinsic value is calculated as the daily market closing price of the security to be received less the subscription price, which is then adjusted by the exercise ratio. In the case of warrants, an option pricing model supplied by an independent pricing service may be used based on market data such as volatility, stock price and interest rate from the independent pricing service and strike price and exercise period from verified terms.

Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources. The mean between the last bid and ask prices may be used to value debt obligations, including corporate loans.

Securities for which market quotations are not readily available are fair valued by the Adviser in accordance with the Valuation Procedures. If a fair value price provided by a pricing service is unreliable, the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value.

The Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer's assets, general market conditions which are not specifically related to the particular issuer, such as real or perceived adverse economic conditions, changes in the general outlook for revenues or corporate earnings, changes in interest or currency rates, regional or global instability, natural or environmental disasters, widespread disease or other public health issues, war, military conflicts, acts of terrorism, economic crises, economic sanctions and tariffs, significant governmental actions or adverse investor sentiment generally and market liquidity. 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.

The price the Fund could receive upon the sale of any investment may differ from the Adviser's valuation of the investment, particularly for securities that are valued using a fair valuation technique. When fair valuation techniques are applied, the Adviser uses available information, including both observable and unobservable inputs and assumptions, to determine a methodology that will result in a valuation that the Adviser believes approximates market value. Fund securities that are fair valued may be subject to greater fluctuation in their value from one day to the next than would be the case if market quotations were used.

**14**

**Invesco Conservative Income Fund**

------

Because of the inherent uncertainties of valuation, and the degree of subjectivity in such decisions, the Fund could realize a greater or lesser than expected gain or loss upon the sale of the investment.

**B.** **Securities Transactions and Investment Income -** Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on the accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Pay-in-kind interest income and non-cash dividend income received in the form of securities in lieu of cash are recorded at the fair value of the securities received. Dividend income (net of withholding tax, if any) is recorded on ex-dividend date.

The Fund may periodically participate in litigation related to Fund investments. As such, the Fund may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.

Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the investment adviser.

The Fund allocates realized and unrealized capital gains and losses to a class based on the relative net assets of each class. The Fund allocates income to a class based on the relative settled shares of each class.

**C.** **Country Determination** - For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted.

**D.** **Distributions -** Distributions from net investment income, if any, are declared daily and paid monthly. Distributions from net realized capital gain, if any, are generally declared and paid annually and recorded on the ex-dividend date. The Fund may elect to treat a portion of the proceeds from redemptions as distributions for federal income tax purposes.

**E.** **Federal Income Taxes** - The Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Fund's taxable earnings to shareholders. As such, the Fund will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions.

The Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual periods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid by jurisdiction, while removing certain disclosure requirements. Management expects that adoption of the guidance will not have a material impact on the Fund's financial statements.

**F.** **Expenses** — Fees provided for under the Rule 12b-1 plan of a particular class of the Fund are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses attributable to Class R6 are charged to such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative settled shares.

**G.** **Accounting Estimates** — The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**H.** **Indemnifications** - Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**I.** **Segment Reporting** — The Fund represents a single operating segment, in accordance with ASC 280, Segment Reporting. Subject to the oversight and, when applicable, approval of the Board of Trustees, portfolio managers and senior executives at the Adviser act as the Fund's chief operating decision maker ("CODM"), assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements.

**J.** **Repurchase Agreements -** The Fund may enter into repurchase agreements. Collateral on repurchase agreements, including the Fund's pro-rata interest in joint repurchase agreements, is taken into possession by the Fund upon entering into the repurchase agreement. Collateral consisting of U.S. Government Securities and U.S. Government Sponsored Agency Securities is marked to market daily to ensure its market value is typically at least 102% of the sales price of the repurchase agreement. Collateral consisting of non-government securities is marked to market daily to ensure its market value is typically at least 105% of the sales price of the repurchase agreement. The investments in some repurchase agreements, pursuant to procedures approved by the Board of Trustees, are through participation with other mutual funds, private accounts and certain non-registered investment companies managed by the investment advisor or its affiliates ("Joint repurchase agreements"). The principal amount of the repurchase agreement is equal to the value at period-end. If the seller of a repurchase agreement fails to repurchase the security in accordance with the terms of the agreement, the Fund might incur expenses in enforcing its rights, and could experience losses, including a decline in the value of the collateral and loss of income.

**K.** **Other Risks** - Obligations of U.S. Government agencies and authorities receive varying levels of support and may not be backed by the full faith and credit of the U.S. Government, which could affect the Fund's ability to recover should they default. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so.

**15**

**Invesco Conservative Income Fund**

------

**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, the Fund accrues daily and pays monthly an advisory fee to the Adviser based on the annual rate of the Fund's average daily net assets as follows:

---

| | |
|:---|:---|
| **Average Daily Net Assets** | &nbsp;&nbsp;&nbsp;&nbsp; **Rate** |
| First $1 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.25% |
| Over $1 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.22% |

---

For the six months ended February 28, 2026, the effective advisory fees incurred by the Fund was 0.24%.

Under the terms of a master sub-advisory agreement between the Adviser and each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and a separate sub-advisory agreement with Invesco Capital Management LLC (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Affiliated Sub-Adviser(s).

The Adviser has contractually agreed, through at least December 31, 2026, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Class A, Class Y, Institutional Class and Class R6 shares to 0.46%, 0.36%, 0.27% and 0.29%, respectively, of the Fund's average daily net assets (the "expense limits"). In determining the Adviser's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the total annual fund operating expenses after fee waiver and/or expense reimbursement to exceed the numbers reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses; and (5) expenses that the Fund has incurred but did not actually pay because of an expense offset arrangement. Unless Invesco continues the fee waiver agreement, it will terminate on December 31, 2026. During its term, the fee waiver agreement cannot be terminated or amended to increase the expense limits or reduce the advisory fee waiver without approval of the Board of Trustees.

For the six months ended February 28, 2026, the Adviser reimbursed class level expenses of $96,870, $66,308, $18,244 and $48 of Class A, Class Y, Institutional Class and Class R6 shares, respectively.

The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the six months ended February 28, 2026, expenses incurred under the agreement are shown in the Statement of Operations as *Administrative services fees*. Also, Invesco has entered into a sub-administration agreement whereby The Bank of New York Mellon ("BNY") serves as custodian and fund accountant and provides certain administrative services to the Fund.

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") pursuant to which each Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to the Fund. For the six months ended February 28, 2026, expenses incurred under the agreement are shown in the Statement of Operations as *Transfer agent fees*.

The Trust has entered into a master distribution agreement with Invesco Distributors, Inc. ("IDI") to serve as the distributor for the Fund. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Class A shares (the "Plan"). The Fund, pursuant to the Plan, pays IDI compensation at the annual rate of 0.10% of the Fund's average daily net assets of Class A shares. The fees are accrued daily and paid monthly. Of the Plan payments, up to 0.10% of the average daily net assets of Class A shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such class. For the six months ended February 28, 2026, expenses incurred under the Plans are shown in the Statement of Operations as *Distribution fees*.

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

**NOTE 3—Additional Valuation Information**

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

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

Level 2 — Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.

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

As of February 28, 2026, all of the securities in this Fund were valued based on Level 2 inputs (see the Schedule of Investments for security categories). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

**NOTE 4—Expense Offset Arrangement(s)**

The expense offset arrangement is comprised of transfer agency credits which result from balances in demand deposit accounts used by the transfer agent for clearing shareholder transactions. For the six months ended February 28, 2026, the Fund received credits from this arrangement, which resulted in the reduction of the Fund's total expenses of $2,387.

**NOTE 5—Trustees' and Officers' Fees and Benefits**

*Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to pay remuneration to certain Trustees and Officers of the Fund. Trustees have the option to defer compensation payable by the Fund, and *Trustees' and Officers' Fees and Benefits* also include amounts accrued by the Fund to fund such deferred compensation amounts. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested. Obligations under the deferred compensation plan represent unsecured claims against the general assets of the Fund.

**16**

**Invesco Conservative Income Fund**

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**NOTE 6—Cash Balances**

The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with BNY, the custodian bank. Such balances, if any at period-end, are shown in the Statement of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate the custodian bank for such overdrafts, the overdrawn Fund may either (1) leave funds as a compensating balance in the account so the custodian bank can be compensated by earning the additional interest; or (2) compensate by paying the custodian bank at a rate agreed upon by the custodian bank and Invesco, not to exceed the contractually agreed upon rate.

**NOTE 7—Tax Information**

The amount and character of income and gains to be distributed are determined in accordance with income tax regulations, which may differ from GAAP. Reclassifications are made to the Fund's capital accounts to reflect income and gains available for distribution (or available capital loss carryforward) under income tax regulations. The tax character of distributions paid during the year and the tax components of net assets will be reported at the Fund's fiscal year-end.

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Fund to utilize. The ability to utilize capital loss carryforward in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Fund had a capital loss carryforward as of August 31, 2025, as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** |
| **Expiration** | **Short-Term** | **Long-Term** | **Total** |
| Not subject to expiration | &nbsp;&nbsp;&nbsp;&nbsp; $6227996 | &nbsp;&nbsp;&nbsp;&nbsp; $9411665 | &nbsp;&nbsp;&nbsp;&nbsp; $15639661 |

---

\* Capital loss carryforwards are reduced for limitations, if any, to the extent required by the Internal Revenue Code and may be further limited depending upon a variety of factors, including the realization of net unrealized gains or losses as of the date of any reorganization. 

**NOTE 8—Investment Transactions**

The aggregate amount of investment securities (other than short-term securities, U.S. Government obligations and money market funds, if any) purchased and sold by the Fund during the six months ended February 28, 2026 was $304,195,180 and $325,924,245, respectively. As of February 28, 2026, the aggregate cost of investments, including any derivatives, on a tax basis listed below includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:

---

| | |
|:---|:---|
| **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** | **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** |
| Aggregate unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $6802867 |
| Aggregate unrealized (depreciation) of investments | &nbsp;&nbsp;&nbsp;&nbsp; (538296)<br>|
| Net unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $6264571 |

---

Cost of investments for tax purposes is $1,820,146,567.

**NOTE 9—Share Information** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Six months ended** <br>**February 28, 2026**<sup>(a)</sup>  | **Six months ended** <br>**February 28, 2026**<sup>(a)</sup>  | **Year ended** <br>**August 31, 2025** | **Year ended** <br>**August 31, 2025** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 10373810 | &nbsp;&nbsp;&nbsp; $104473919 | &nbsp;&nbsp;&nbsp; 20741157 | &nbsp;&nbsp;&nbsp; $208749724 |
| Class Y | &nbsp;&nbsp;&nbsp; 6603879 | &nbsp;&nbsp;&nbsp; 66483622 | &nbsp;&nbsp;&nbsp; 23170714 | &nbsp;&nbsp;&nbsp; 233149483 |
| Institutional Class | &nbsp;&nbsp;&nbsp; 24548061 | &nbsp;&nbsp;&nbsp; 247191428 | &nbsp;&nbsp;&nbsp; 51334259 | &nbsp;&nbsp;&nbsp; 516637337 |
| Class R6 | &nbsp;&nbsp;&nbsp; 512 | &nbsp;&nbsp;&nbsp; 5155 | &nbsp;&nbsp;&nbsp; 4893 | &nbsp;&nbsp;&nbsp; 49353 |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 611411 | &nbsp;&nbsp;&nbsp; 6156911 | &nbsp;&nbsp;&nbsp; 1159511 | &nbsp;&nbsp;&nbsp; 11675077 |
| Class Y | &nbsp;&nbsp;&nbsp; 473755 | &nbsp;&nbsp;&nbsp; 4769875 | &nbsp;&nbsp;&nbsp; 963830 | &nbsp;&nbsp;&nbsp; 9702678 |
| Institutional Class | &nbsp;&nbsp;&nbsp; 1575875 | &nbsp;&nbsp;&nbsp; 15869063 | &nbsp;&nbsp;&nbsp; 3379679 | &nbsp;&nbsp;&nbsp; 34022405 |
| Class R6 | &nbsp;&nbsp;&nbsp; 4225 | &nbsp;&nbsp;&nbsp; 42593 | &nbsp;&nbsp;&nbsp; 11949 | &nbsp;&nbsp;&nbsp; 120490 |
| **Reacquired:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; (9046545)<br>| &nbsp;&nbsp;&nbsp; (91109935)<br>| &nbsp;&nbsp;&nbsp; (12689028)<br>| &nbsp;&nbsp;&nbsp; (127703717)<br>|
| Class Y | &nbsp;&nbsp;&nbsp; (5308048)<br>| &nbsp;&nbsp;&nbsp; (53436480)<br>| &nbsp;&nbsp;&nbsp; (21614323)<br>| &nbsp;&nbsp;&nbsp; (217445370)<br>|
| Institutional Class | &nbsp;&nbsp;&nbsp; (26808391)<br>| &nbsp;&nbsp;&nbsp; (269914930)<br>| &nbsp;&nbsp;&nbsp; (64428515)<br>| &nbsp;&nbsp;&nbsp; (648423977)<br>|
| Class R6 | &nbsp;&nbsp;&nbsp; (5315)<br>| &nbsp;&nbsp;&nbsp; (53577)<br>| &nbsp;&nbsp;&nbsp; (171053)<br>| &nbsp;&nbsp;&nbsp; (1724275)<br>|
| Net increase in share activity | &nbsp;&nbsp;&nbsp; 3023229 | &nbsp;&nbsp;&nbsp; $30477644 | &nbsp;&nbsp;&nbsp; 1863073 | &nbsp;&nbsp;&nbsp; $18809208 |

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 79% of the outstanding shares of the Fund. The Fund and the Fund's principal underwriter or adviser, are parties to participation agreements with these entities whereby these entities sell units of interest in separate accounts funding variable products that are invested in the Fund. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as, securities brokerage, third party record keeping and account servicing and administrative services. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**17**

**Invesco Conservative Income Fund**

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

Not applicable.

**18**

**Invesco Conservative Income Fund**

------

![](img67fb17081.jpg)

SEC file number(s): 811-22957 and 333-195218

Invesco Distributors, Inc.

CINC-NCSRS

------

Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.

Not applicable.

------

Item 9. Proxy Disclosures for Open-End Management Investment Companies.

Not applicable.

------

Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.

This information is filed under Item 7 of this Form N-CSR.

------

Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.

Not applicable.

------

Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

------

Item 13. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

------

Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

------

Item 15. Submission of Matters to a Vote of Security Holders.

None.

------

Item 16. Controls and Procedures.

(a) As of a date within 90 days of the filing date of this report, an evaluation was performed under the supervision and with the participation of the officers of the Registrant, including the Principal Executive Officer ("PEO") and Principal Financial Officer ("PFO"), to assess the effectiveness of the Registrant's disclosure controls and procedures, as that term is defined in Rule 30a-3(c) under the Act. Based on that evaluation, the Registrant's officers, including the PEO and PFO, concluded that the Registrant's disclosure controls and procedures were reasonably designed to ensure: (1) that information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the time periods specified by the rules and forms of the Securities and Exchange Commission; and (2) that material information relating to the Registrant is made known to the PEO and PFO as appropriate to allow timely decisions regarding required disclosure.

(b) There have been no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

------

Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

------

Item 18. Recovery of Erroneously Awarded Compensation.

Not applicable.

------

Item 19. Exhibits.

(a)(1) Not applicable.

(a)(2) Not applicable.

[(a)(3) Certifications of the Registrant's PEO and PFO pursuant to Rule 30a-2(a) under the Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached as Exhibit 99.CERT.](Section_302_Certification.htm)

(a)(4) Not applicable.

(a)(5) Not applicable.

[(b) Certifications of Registrant's PEO and PFO pursuant to Rule 30a-2(b) under the Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached as Exhibit 99.906CERT.](Section_906_Certification.htm)

------

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) <u>Invesco Management Trust</u>

By: <u>/s/ Glenn Brightman&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;</u> <u>.</u>

Name: Glenn Brightman

Title: Principal Executive Officer

Date: May 7, 2026

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By: <u>/s/ Glenn Brightman&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;</u> <u>.</u>

Name: Glenn Brightman

Title: Principal Executive Officer

Date: May 7, 2026

By: <u>/s/ Adrien Deberghes&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;</u> 

Name: Adrien Deberghes

Title: Principal Financial Officer

Date: May 7, 2026

------

## Exhibit 99.906

#### Exhibit 99.906

#### &nbsp;&nbsp;&nbsp;&nbsp; EXHIBIT (b)

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
CERTIFICATIONS PURSUANT TO RULE 30A-2(B) UNDER THE 1940 ACT AND SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Certified Shareholder Report of Invesco Management Trust (the "Company") on Form N-CSR for the period ended February 28, 2026, as filed with the Securities and Exchange Commission (the "Report"), I, Glenn Brightman, Principal Executive Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

---

| | |
|:---|:---|
| Date: May 7, 2026  | /s/ Glenn Brightman  |
|  | Glenn Brightman <br> Principal Executive Officer  |

---

#### Exhibit 99.906

------

#### &nbsp;&nbsp;&nbsp;&nbsp; EXHIBIT (b)

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
CERTIFICATIONS PURSUANT TO RULE 30A-2(B) UNDER THE 1940 ACT AND SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Certified Shareholder Report of Invesco Management Trust (the "Company") on Form N-CSR for the period ended February 28, 2026, as filed with the Securities and Exchange Commission (the "Report"), I, Adrien Deberghes, Principal Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

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| | |
|:---|:---|
| Date: May 7, 2026  | /s/ Adrien Deberghes  |
|  | Adrien Deberghes <br> Principal Financial Officer  |

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## Ex-99.Cert

#### Exhibit 99.CERT

#### EXHIBIT (a)(3)
CERTIFICATIONS PURSUANT TO RULE 30A-2(A) UNDER THE 1940 ACT AND SECTION 302 OF

THE SARBANES-OXLEY ACT OF 2002

I, Glenn Brightman, certify that:

1. I have reviewed this report on Form N-CSR of Invesco Management Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this report;

4. The Registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation;

(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and

5. The Registrant's other certifying officer and I have disclosed to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting.

Date:&nbsp;&nbsp;&nbsp;&nbsp; <u>&nbsp;&nbsp;&nbsp;&nbsp; May 7, 2026</u>&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; <u>/s/ Glenn Brightman</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Glenn Brightman

&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; Principal Executive Officer

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#### Exhibit 99.CERT

#### EXHIBIT (a)(3)
CERTIFICATIONS PURSUANT TO RULE 30A-2(A) UNDER THE 1940 ACT AND SECTION 302 OF

THE SARBANES-OXLEY ACT OF 2002

I, Adrien Deberghes, certify that:

1. I have reviewed this report on Form N-CSR of Invesco Management Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this report;

4. The Registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation;

(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and

5. The Registrant's other certifying officer and I have disclosed to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting.

Date:<u>May 7, 2026</u>&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;&nbsp;&nbsp; <u>/s/ Adrien Deberghes</u>

&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;Adrien Deberghes

&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;Principal Financial Officer

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