# EDGAR Filing Document

**Accession Number:** 0001605283
**File Stem:** 0001605283-26-000005
**Filing Date:** 2026-1
**Character Count:** 159746
**Document Hash:** c99e280bf66c4d42d6ac00536a6d6418
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001605283-26-000005.hdr.sgml**: 20260129

**ACCESSION NUMBER**: 0001605283-26-000005

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260129

**DATE AS OF CHANGE**: 20260129

**PERIOD START**: 20260831

**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:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22957
- **FILM NUMBER:** 26576667

**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           |

## Nport-Ex

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

*November 30, 2025*

*(Unaudited)* 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **U.S. Dollar Denominated Bonds & Notes-70.55%** |  |  |  |  |
| **Agricultural & Farm Machinery-1.70%** | **Agricultural & Farm Machinery-1.70%** | **Agricultural & Farm Machinery-1.70%** | **Agricultural & Farm Machinery-1.70%** | **Agricultural & Farm Machinery-1.70%** |
| John Deere Capital Corp. (SOFR + 0.40%)<sup>(b)</sup> <br>| 4.53% | 01/05/2027 | $10000 | &nbsp;&nbsp; $10019102 |
| John Deere Capital Corp. (SOFR + 0.44%)<sup>(b)</sup> <br>| 4.63% | 03/06/2026 | 10000 | &nbsp;&nbsp; 10008404 |
| John Deere Capital Corp. (SOFR + 0.50%)<sup>(b)</sup> <br>| 4.69% | 03/06/2028 | 10000 | &nbsp;&nbsp; 10014209 |
|  |  |  |  | &nbsp;&nbsp; 30041715 |
| **Agricultural Products & Services-0.56%** | **Agricultural Products & Services-0.56%** | **Agricultural Products & Services-0.56%** | **Agricultural Products & Services-0.56%** | **Agricultural Products & Services-0.56%** |
| Cargill, Inc. (SOFR + 0.61%)<sup>(b)(c)</sup> <br>| 4.71% | 02/11/2028 | 10000 | &nbsp;&nbsp; 10016167 |
| **Application Software-0.20%** | **Application Software-0.20%** | **Application Software-0.20%** | **Application Software-0.20%** | **Application Software-0.20%** |
| Roper Technologies, Inc. | 4.25% | 09/15/2028 | 1015 | &nbsp;&nbsp; 1019945 |
| Synopsys, Inc. | 4.55% | 04/01/2027 | 2500 | &nbsp;&nbsp; 2517859 |
|  |  |  |  | &nbsp;&nbsp; 3537804 |
| **Asset Management & Custody Banks-2.30%** | **Asset Management & Custody Banks-2.30%** | **Asset Management & Custody Banks-2.30%** | **Asset Management & Custody Banks-2.30%** | **Asset Management & Custody Banks-2.30%** |
| Ares Capital Corp. | 3.88% | 01/15/2026 | 11946 | &nbsp;&nbsp; 11934106 |
| Blue Owl Capital Corp. | 4.25% | 01/15/2026 | 10000 | &nbsp;&nbsp; 9980255 |
| State Street Corp.<sup>(d)</sup> <br>| 4.54% | 04/24/2028 | 1432 | &nbsp;&nbsp; 1444181 |
| State Street Corp. (SOFR + 0.64%)<sup>(b)</sup> <br>| 4.75% | 10/22/2027 | 2857 | &nbsp;&nbsp; 2869843 |
| State Street Corp. (SOFR + 0.85%)<sup>(b)</sup> <br>| 4.94% | 08/03/2026 | 14458 | &nbsp;&nbsp; 14503084 |
|  |  |  |  | &nbsp;&nbsp; 40731469 |
| **Automobile Manufacturers-6.42%** | **Automobile Manufacturers-6.42%** | **Automobile Manufacturers-6.42%** | **Automobile Manufacturers-6.42%** | **Automobile Manufacturers-6.42%** |
| American Honda Finance Corp. (SOFR + 0.72%)<sup>(b)</sup> <br>| 4.84% | 10/05/2026 | 15000 | &nbsp;&nbsp; 15036357 |
| American Honda Finance Corp. (SOFR + 0.87%)<sup>(b)</sup> <br>| 4.99% | 07/09/2027 | 10000 | &nbsp;&nbsp; 10046870 |
| American Honda Finance Corp. (SOFR + 0.82%)<sup>(b)</sup> <br>| 5.01% | 03/03/2028 | 10000 | &nbsp;&nbsp; 10022674 |
| Daimler Truck Finance North America LLC (Germany)<sup>(c)</sup> <br>| 4.30% | 08/12/2027 | 4179 | &nbsp;&nbsp; 4197292 |
| Daimler Truck Finance North America LLC (Germany)<sup>(c)</sup> <br>| 5.13% | 09/25/2027 | 5905 | &nbsp;&nbsp; 6000899 |
| Hyundai Capital America<sup>(c)</sup> <br>| 3.50% | 11/02/2026 | 2000 | &nbsp;&nbsp; 1987970 |
| Hyundai Capital America<sup>(c)</sup> <br>| 4.88% | 06/23/2027 | 8000 | &nbsp;&nbsp; 8084829 |
| Mercedes-Benz Finance North America LLC (Germany)<sup>(c)</sup> <br>| 4.80% | 03/30/2026 | 11104 | &nbsp;&nbsp; 11126594 |
| Toyota Motor Credit Corp. (SOFR + 0.65%)<sup>(b)</sup> <br>| 4.77% | 01/05/2026 | 15000 | &nbsp;&nbsp; 15005549 |
| Toyota Motor Credit Corp. | 5.40% | 11/20/2026 | 8000 | &nbsp;&nbsp; 8122568 |
| Volkswagen Group of America Finance LLC (Germany)<sup>(c)</sup> <br>| 4.45% | 09/11/2027 | 4000 | &nbsp;&nbsp; 4012180 |
| Volkswagen Group of America Finance LLC (Germany) (SOFR + 0.83%)<sup>(b)(c)</sup> <br>| 4.96% | 03/20/2026 | 10000 | &nbsp;&nbsp; 10013363 |
| Volkswagen Group of America Finance LLC (Germany)<sup>(c)</sup> <br>| 6.00% | 11/16/2026 | 9785 | &nbsp;&nbsp; 9949658 |
|  |  |  |  | &nbsp;&nbsp; 113606803 |
| **Automotive Parts & Equipment-0.61%** | **Automotive Parts & Equipment-0.61%** | **Automotive Parts & Equipment-0.61%** | **Automotive Parts & Equipment-0.61%** | **Automotive Parts & Equipment-0.61%** |
| BMW US Capital LLC (Germany) (SOFR + 0.80%)<sup>(b)(c)</sup> <br>| 4.91% | 08/13/2026 | 10811 | &nbsp;&nbsp; 10843483 |
| **Broadline Retail-1.25%** | **Broadline Retail-1.25%** | **Broadline Retail-1.25%** | **Broadline Retail-1.25%** | **Broadline Retail-1.25%** |
| Amazon.com, Inc. | 3.90% | 11/20/2028 | 13890 | &nbsp;&nbsp; 13947027 |
| eBay, Inc. | 1.40% | 05/10/2026 | 4500 | &nbsp;&nbsp; 4449395 |
| eBay, Inc. | 4.25% | 03/06/2029 | 3676 | &nbsp;&nbsp; 3692477 |
|  |  |  |  | &nbsp;&nbsp; 22088899 |
| **Commercial & Residential Mortgage Finance-0.11%** | **Commercial & Residential Mortgage Finance-0.11%** | **Commercial & Residential Mortgage Finance-0.11%** | **Commercial & Residential Mortgage Finance-0.11%** | **Commercial & Residential Mortgage Finance-0.11%** |
| Aviation Capital Group LLC<sup>(c)</sup> <br>| 4.75% | 04/14/2027 | 1936 | &nbsp;&nbsp; 1945783 |
| **Construction Machinery & Heavy Transportation Equipment-0.50%** | **Construction Machinery & Heavy Transportation Equipment-0.50%** | **Construction Machinery & Heavy Transportation Equipment-0.50%** | **Construction Machinery & Heavy Transportation Equipment-0.50%** | **Construction Machinery & Heavy Transportation Equipment-0.50%** |
| Caterpillar Financial Services Corp., Series K | 4.10% | 08/15/2028 | 8734 | &nbsp;&nbsp; 8800543 |
| **Consumer Finance-1.67%** | **Consumer Finance-1.67%** | **Consumer Finance-1.67%** | **Consumer Finance-1.67%** | **Consumer Finance-1.67%** |
| Capital One Financial Corp. | 3.75% | 03/09/2027 | 6081 | &nbsp;&nbsp; 6056010 |
| Capital One Financial Corp.<sup>(d)</sup> <br>| 4.93% | 05/10/2028 | 10000 | &nbsp;&nbsp; 10106886 |
| General Motors Financial Co., Inc. | 5.00% | 07/15/2027 | 3333 | &nbsp;&nbsp; 3374473 |

---

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

**Invesco Conservative Income Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Consumer Finance-(continued)** | **Consumer Finance-(continued)** | **Consumer Finance-(continued)** | **Consumer Finance-(continued)** | **Consumer Finance-(continued)** |
| General Motors Financial Co., Inc. (SOFR + 1.17%)<sup>(b)</sup> <br>| 5.29% | 04/04/2028 | $10000 | &nbsp;&nbsp; $10003266 |
|  |  |  |  | &nbsp;&nbsp; 29540635 |
| **Diversified Banks-24.89%** | **Diversified Banks-24.89%** | **Diversified Banks-24.89%** | **Diversified Banks-24.89%** | **Diversified Banks-24.89%** |
| Australia and New Zealand Banking Group Ltd. (Australia) (SOFR + 0.81%)<sup>(b)(c)</sup> <br>| 4.89% | 01/18/2027 | 14000 | &nbsp;&nbsp; 14065315 |
| Bank of America N.A. | 5.53% | 08/18/2026 | 15000 | &nbsp;&nbsp; 15142776 |
| Bank of Montreal (Canada) (SOFR + 0.76%)<sup>(b)</sup> <br>| 4.94% | 06/04/2027 | 10000 | &nbsp;&nbsp; 10054058 |
| Bank of New York Mellon (The) (SOFR + 0.71%)<sup>(b)</sup> <br>| 4.83% | 04/20/2027 | 3311 | &nbsp;&nbsp; 3316184 |
| Bank of Nova Scotia (The) (Canada)<sup>(d)</sup> <br>| 4.04% | 09/15/2028 | 10000 | &nbsp;&nbsp; 9990887 |
| Barclays Bank PLC (United Kingdom) (SOFR + 0.58%)<sup>(b)</sup> <br>| 4.68% | 08/14/2026 | 12000 | &nbsp;&nbsp; 11996891 |
| Canadian Imperial Bank of Commerce (Canada)<sup>(d)</sup> <br>| 4.24% | 09/08/2028 | 10000 | &nbsp;&nbsp; 10028497 |
| Canadian Imperial Bank of Commerce (Canada) (SOFR + 0.93%)<sup>(b)</sup> <br>| 5.09% | 09/11/2027 | 10000 | &nbsp;&nbsp; 10034157 |
| Canadian Imperial Bank of Commerce (Canada) (SOFR + 1.22%)<sup>(b)</sup> <br>| 5.35% | 10/02/2026 | 15000 | &nbsp;&nbsp; 15111336 |
| Citigroup, Inc.<sup>(d)</sup> <br>| 4.64% | 05/07/2028 | 10000 | &nbsp;&nbsp; 10072571 |
| Commonwealth Bank of Australia (Australia) (SOFR + 0.75%)<sup>(b)(c)</sup> <br>| 4.89% | 03/13/2026 | 14512 | &nbsp;&nbsp; 14530365 |
| Cooperatieve Rabobank U.A. (Netherlands) (SOFR + 0.59%)<sup>(b)</sup> <br>| 4.73% | 05/27/2027 | 8571 | &nbsp;&nbsp; 8596803 |
| Cooperatieve Rabobank U.A. (Netherlands) (SOFR + 0.62%)<sup>(b)</sup> <br>| 4.76% | 08/28/2026 | 8035 | &nbsp;&nbsp; 8056765 |
| Fifth Third Bank N.A. (SOFR + 0.81%)<sup>(b)</sup> <br>| 4.92% | 01/28/2028 | 5300 | &nbsp;&nbsp; 5309687 |
| Goldman Sachs Bank USA (SOFR + 0.54%)<sup>(b)</sup> <br>| 4.73% | 03/07/2027 | 10000 | &nbsp;&nbsp; 10043336 |
| HSBC USA, Inc. (SOFR + 0.97%)<sup>(b)</sup> <br>| 5.16% | 06/03/2028 | 6522 | &nbsp;&nbsp; 6571358 |
| Huntington National Bank (The) (SOFR + 0.72%)<sup>(b)</sup> <br>| 4.84% | 04/12/2028 | 6897 | &nbsp;&nbsp; 6895367 |
| ING Groep N.V. (Netherlands) (SOFR + 1.56%)<sup>(b)</sup> <br>| 5.72% | 09/11/2027 | 10000 | &nbsp;&nbsp; 10080115 |
| JPMorgan Chase Bank N.A. | 5.11% | 12/08/2026 | 7589 | &nbsp;&nbsp; 7674086 |
| Morgan Stanley Bank N.A. (SOFR + 0.69%)<sup>(b)</sup> <br>| 4.81% | 10/15/2027 | 10000 | &nbsp;&nbsp; 10022657 |
| Morgan Stanley Private Bank N.A. (SOFR + 0.77%)<sup>(b)</sup> <br>| 4.89% | 07/06/2028 | 6969 | &nbsp;&nbsp; 6985214 |
| National Australia Bank Ltd. (Australia) | 4.97% | 01/12/2026 | 13334 | &nbsp;&nbsp; 13345640 |
| National Bank of Canada (Canada) (SOFR + 0.80%)<sup>(b)</sup> <br>| 4.93% | 08/20/2026 | 10000 | &nbsp;&nbsp; 10002368 |
| National Bank of Canada (Canada) (SOFR + 1.03%)<sup>(b)</sup> <br>| 5.16% | 07/02/2027 | 5797 | &nbsp;&nbsp; 5814060 |
| Nordea Bank Abp (Finland)<sup>(c)</sup> <br>| 4.38% | 03/17/2028 | 5000 | &nbsp;&nbsp; 5062465 |
| Nordea Bank Abp (Finland) (SOFR + 0.74%)<sup>(b)(c)</sup> <br>| 4.87% | 03/19/2027 | 14286 | &nbsp;&nbsp; 14356117 |
| PNC Bank N.A.<sup>(d)</sup> <br>| 4.54% | 05/13/2027 | 6977 | &nbsp;&nbsp; 6987816 |
| PNC Bank N.A. (SOFR + 0.73%)<sup>(b)</sup> <br>| 4.85% | 07/21/2028 | 2633 | &nbsp;&nbsp; 2633502 |
| PNC Financial Services Group, Inc. (The)<sup>(d)</sup> <br>| 5.10% | 07/23/2027 | 7500 | &nbsp;&nbsp; 7542008 |
| Royal Bank of Canada (Canada) (SOFR + 0.95%)<sup>(b)</sup> <br>| 5.07% | 01/19/2027 | 16667 | &nbsp;&nbsp; 16775039 |
| Societe Generale S.A. (France)<sup>(c)(d)</sup> <br>| 1.49% | 12/14/2026 | 10437 | &nbsp;&nbsp; 10423100 |
| Sumitomo Mitsui Financial Group, Inc. (Japan) | 1.90% | 09/17/2028 | 10000 | &nbsp;&nbsp; 9444772 |
| Sumitomo Mitsui Trust Bank Ltd. (Japan) (SOFR + 0.75%)<sup>(b)(c)</sup> <br>| 4.92% | 09/11/2028 | 1541 | &nbsp;&nbsp; 1544415 |
| Sumitomo Mitsui Trust Bank Ltd. (Japan)<sup>(c)</sup> <br>| 5.20% | 03/07/2027 | 6557 | &nbsp;&nbsp; 6654084 |
| Sumitomo Mitsui Trust Bank Ltd. (Japan)<sup>(c)</sup> <br>| 5.65% | 09/14/2026 | 4349 | &nbsp;&nbsp; 4405674 |
| Svenska Handelsbanken AB (Sweden) (SOFR + 0.74%)<sup>(b)(c)</sup> <br>| 4.87% | 05/23/2028 | 6522 | &nbsp;&nbsp; 6550102 |
| Swedbank AB (Sweden) (SOFR + 1.38%)<sup>(b)(c)</sup> <br>| 5.53% | 06/15/2026 | 15000 | &nbsp;&nbsp; 15084454 |
| Swedbank AB (Sweden)<sup>(c)</sup> <br>| 6.14% | 09/12/2026 | 8130 | &nbsp;&nbsp; 8262201 |
| Toronto-Dominion Bank (The) (Canada) (SOFR + 0.82%)<sup>(b)</sup> <br>| 4.92% | 01/31/2028 | 8791 | &nbsp;&nbsp; 8825064 |
| Toronto-Dominion Bank (The) (Canada) (SOFR + 0.91%)<sup>(b)</sup> <br>| 5.05% | 06/02/2028 | 10000 | &nbsp;&nbsp; 10051411 |
| Toronto-Dominion Bank (The) (Canada) (SOFR + 1.00%)<sup>(b)</sup> <br>| 5.11% | 10/20/2026 | 9800 | &nbsp;&nbsp; 9819363 |
| Toronto-Dominion Bank (The) (Canada) (SOFR + 1.08%)<sup>(b)</sup> <br>| 5.20% | 07/17/2026 | 13050 | &nbsp;&nbsp; 13115115 |
| Truist Bank (SOFR + 0.77%)<sup>(b)</sup> <br>| 4.88% | 07/24/2028 | 9757 | &nbsp;&nbsp; 9763851 |
| U.S. Bank N.A. (SOFR + 0.69%)<sup>(b)</sup> <br>| 4.80% | 10/22/2027 | 10000 | &nbsp;&nbsp; 10029790 |
| U.S. Bank N.A. (SOFR + 0.91%)<sup>(b)</sup> <br>| 5.03% | 05/15/2028 | 10000 | &nbsp;&nbsp; 10042884 |
| UBS AG (Switzerland)<sup>(d)</sup> <br>| 4.86% | 01/10/2028 | 5608 | &nbsp;&nbsp; 5655181 |
| Wells Fargo & Co. (SOFR + 0.78%)<sup>(b)</sup> <br>| 4.89% | 01/24/2028 | 7461 | &nbsp;&nbsp; 7478540 |
| Wells Fargo Bank N.A. (SOFR + 0.71%)<sup>(b)</sup> <br>| 4.83% | 01/15/2026 | 6400 | &nbsp;&nbsp; 6402637 |
|  |  |  |  | &nbsp;&nbsp; 440650078 |
| **Diversified Metals & Mining-1.73%** | **Diversified Metals & Mining-1.73%** | **Diversified Metals & Mining-1.73%** | **Diversified Metals & Mining-1.73%** | **Diversified Metals & Mining-1.73%** |
| BHP Billiton Finance (USA) Ltd. (Australia) | 5.25% | 09/08/2026 | 14815 | &nbsp;&nbsp; 14953153 |
| Glencore Funding LLC (Australia) (SOFR + 0.75%)<sup>(b)(c)</sup> <br>| 4.88% | 10/01/2026 | 5357 | &nbsp;&nbsp; 5363014 |
| Glencore Funding LLC (Australia) (SOFR + 1.06%)<sup>(b)(c)</sup> <br>| 5.18% | 04/04/2027 | 8522 | &nbsp;&nbsp; 8558515 |

---

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

**Invesco Conservative Income Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Diversified Metals & Mining-(continued)** | **Diversified Metals & Mining-(continued)** | **Diversified Metals & Mining-(continued)** | **Diversified Metals & Mining-(continued)** | **Diversified Metals & Mining-(continued)** |
| Rio Tinto Finance (USA) PLC (Australia) | 4.38% | 03/12/2027 | $1741 | &nbsp;&nbsp; $1753791 |
|  |  |  |  | &nbsp;&nbsp; 30628473 |
| **Electric Utilities-2.67%** | **Electric Utilities-2.67%** | **Electric Utilities-2.67%** | **Electric Utilities-2.67%** | **Electric Utilities-2.67%** |
| National Rural Utilities Cooperative Finance Corp., Series D | 4.15% | 08/25/2028 | 5128 | &nbsp;&nbsp; 5158550 |
| National Rural Utilities Cooperative Finance Corp. (SOFR + 0.82%)<sup>(b)</sup> <br>| 4.97% | 09/16/2027 | 15000 | &nbsp;&nbsp; 15079632 |
| National Rural Utilities Cooperative Finance Corp. | 5.10% | 05/06/2027 | 7500 | &nbsp;&nbsp; 7613750 |
| NextEra Energy Capital Holdings, Inc. (SOFR + 0.76%)<sup>(b)</sup> <br>| 4.87% | 01/29/2026 | 11456 | &nbsp;&nbsp; 11467393 |
| NextEra Energy Capital Holdings, Inc. (SOFR + 0.80%)<sup>(b)</sup> <br>| 4.90% | 02/04/2028 | 7330 | &nbsp;&nbsp; 7382154 |
| Pinnacle West Capital Corp. | 4.90% | 05/15/2028 | 649 | &nbsp;&nbsp; 660314 |
|  |  |  |  | &nbsp;&nbsp; 47361793 |
| **Fertilizers & Agricultural Chemicals-0.34%** | **Fertilizers & Agricultural Chemicals-0.34%** | **Fertilizers & Agricultural Chemicals-0.34%** | **Fertilizers & Agricultural Chemicals-0.34%** | **Fertilizers & Agricultural Chemicals-0.34%** |
| Nutrien Ltd. (Canada) | 4.50% | 03/12/2027 | 5970 | &nbsp;&nbsp; 6007906 |
| **Home Improvement Retail-0.64%** | **Home Improvement Retail-0.64%** | **Home Improvement Retail-0.64%** | **Home Improvement Retail-0.64%** | **Home Improvement Retail-0.64%** |
| Home Depot, Inc. (The) | 5.15% | 06/25/2026 | 4504 | &nbsp;&nbsp; 4536008 |
| Lowe's Cos., Inc. | 4.80% | 04/01/2026 | 6766 | &nbsp;&nbsp; 6777875 |
|  |  |  |  | &nbsp;&nbsp; 11313883 |
| **Hotels, Resorts & Cruise Lines-0.10%** | **Hotels, Resorts & Cruise Lines-0.10%** | **Hotels, Resorts & Cruise Lines-0.10%** | **Hotels, Resorts & Cruise Lines-0.10%** | **Hotels, Resorts & Cruise Lines-0.10%** |
| Marriott International, Inc. | 4.20% | 07/15/2027 | 1709 | &nbsp;&nbsp; 1714168 |
| **Integrated Oil & Gas-0.37%** | **Integrated Oil & Gas-0.37%** | **Integrated Oil & Gas-0.37%** | **Integrated Oil & Gas-0.37%** | **Integrated Oil & Gas-0.37%** |
| Chevron USA, Inc. (SOFR + 0.36%)<sup>(b)</sup> <br>| 4.50% | 02/26/2027 | 6465 | &nbsp;&nbsp; 6478331 |
| **Interactive Media & Services-0.21%** | **Interactive Media & Services-0.21%** | **Interactive Media & Services-0.21%** | **Interactive Media & Services-0.21%** | **Interactive Media & Services-0.21%** |
| Alphabet, Inc. (SOFR + 0.52%)<sup>(b)</sup> <br>| 4.62% | 11/15/2028 | 3636 | &nbsp;&nbsp; 3657562 |
| **Investment Banking & Brokerage-1.36%** | **Investment Banking & Brokerage-1.36%** | **Investment Banking & Brokerage-1.36%** | **Investment Banking & Brokerage-1.36%** | **Investment Banking & Brokerage-1.36%** |
| Goldman Sachs Group, Inc. (The)<sup>(d)</sup> <br>| 4.94% | 04/23/2028 | 5129 | &nbsp;&nbsp; 5186269 |
| Jefferies Financial Group, Inc. | 4.50% | 09/15/2026 | 10000 | &nbsp;&nbsp; 10006831 |
| Jefferies Financial Group, Inc. | 4.75% | 08/11/2026 | 8846 | &nbsp;&nbsp; 8855369 |
|  |  |  |  | &nbsp;&nbsp; 24048469 |
| **Life & Health Insurance-14.26%** | **Life & Health Insurance-14.26%** | **Life & Health Insurance-14.26%** | **Life & Health Insurance-14.26%** | **Life & Health Insurance-14.26%** |
| Athene Global Funding (SOFR + 1.03%)<sup>(b)(c)</sup> <br>| 5.17% | 08/27/2026 | 10000 | &nbsp;&nbsp; 10042769 |
| Athene Global Funding (SOFR + 1.21%)<sup>(b)(c)</sup> <br>| 5.34% | 03/25/2027 | 12000 | &nbsp;&nbsp; 12092004 |
| Athene Global Funding<sup>(c)</sup> <br>| 5.62% | 05/08/2026 | 12000 | &nbsp;&nbsp; 12069953 |
| Brighthouse Financial Global Funding<sup>(c)</sup> <br>| 5.55% | 04/09/2027 | 8150 | &nbsp;&nbsp; 8269641 |
| CNO Global Funding<sup>(c)</sup> <br>| 4.88% | 12/10/2027 | 4918 | &nbsp;&nbsp; 4978298 |
| Corebridge Global Funding<sup>(c)</sup> <br>| 4.25% | 08/21/2028 | 3043 | &nbsp;&nbsp; 3051783 |
| Corebridge Global Funding (SOFR + 0.75%)<sup>(b)(c)</sup> <br>| 4.88% | 01/07/2028 | 10000 | &nbsp;&nbsp; 9999381 |
| Corebridge Global Funding (SOFR + 1.30%)<sup>(b)(c)</sup> <br>| 5.43% | 09/25/2026 | 15000 | &nbsp;&nbsp; 15101404 |
| Corebridge Global Funding<sup>(c)</sup> <br>| 5.75% | 07/02/2026 | 7758 | &nbsp;&nbsp; 7836813 |
| Equitable America Global Funding<sup>(c)</sup> <br>| 3.95% | 09/15/2027 | 4474 | &nbsp;&nbsp; 4469100 |
| F&G Global Funding<sup>(c)</sup> <br>| 4.65% | 09/08/2028 | 2139 | &nbsp;&nbsp; 2146622 |
| GA Global Funding Trust<sup>(c)</sup> <br>| 2.25% | 01/06/2027 | 3700 | &nbsp;&nbsp; 3623033 |
| Jackson National Life Global Funding<sup>(c)</sup> <br>| 5.50% | 01/09/2026 | 16667 | &nbsp;&nbsp; 16686847 |
| Jackson National Life Global Funding<sup>(c)</sup> <br>| 5.55% | 07/02/2027 | 6719 | &nbsp;&nbsp; 6863565 |
| Lincoln Financial Global Funding<sup>(c)</sup> <br>| 4.63% | 05/28/2028 | 3000 | &nbsp;&nbsp; 3031498 |
| MassMutual Global Funding II (SOFR + 0.68%)<sup>(b)(c)</sup> <br>| 4.78% | 08/01/2028 | 10000 | &nbsp;&nbsp; 10006616 |
| MassMutual Global Funding II (SOFR + 0.77%)<sup>(b)(c)</sup> <br>| 4.88% | 01/29/2027 | 15000 | &nbsp;&nbsp; 15074995 |
| MassMutual Global Funding II (SOFR + 0.98%)<sup>(b)(c)</sup> <br>| 5.10% | 07/10/2026 | 13500 | &nbsp;&nbsp; 13557653 |
| Met Tower Global Funding<sup>(c)</sup> <br>| 5.40% | 06/20/2026 | 10000 | &nbsp;&nbsp; 10074632 |
| New York Life Global Funding<sup>(c)</sup> <br>| 4.40% | 04/25/2028 | 3695 | &nbsp;&nbsp; 3741835 |
| New York Life Global Funding (SOFR + 0.67%)<sup>(b)(c)</sup> <br>| 4.80% | 04/02/2027 | 7000 | &nbsp;&nbsp; 7029870 |
| Northwestern Mutual Global Funding (SOFR + 0.66%)<sup>(b)(c)</sup> <br>| 4.79% | 08/25/2028 | 6250 | &nbsp;&nbsp; 6264086 |
| Pacific Life Global Funding II<sup>(c)</sup> <br>| 4.45% | 05/01/2028 | 9434 | &nbsp;&nbsp; 9550310 |
| Pacific Life Global Funding II (SOFR + 0.60%)<sup>(b)(c)</sup> <br>| 4.73% | 03/27/2026 | 9750 | &nbsp;&nbsp; 9761017 |

---

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

**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)** |
| Pacific Life Global Funding II (SOFR + 1.05%)<sup>(b)(c)</sup> <br>| 5.16% | 07/28/2026 | $12500 | &nbsp;&nbsp; $12565334 |
| Pricoa Global Funding I<sup>(c)</sup> <br>| 5.55% | 08/28/2026 | 3407 | &nbsp;&nbsp; 3445629 |
| Principal Life Global Funding II<sup>(c)</sup> <br>| 4.25% | 08/18/2028 | 4348 | &nbsp;&nbsp; 4374071 |
| Principal Life Global Funding II<sup>(c)</sup> <br>| 4.60% | 08/19/2027 | 4777 | &nbsp;&nbsp; 4817973 |
| Principal Life Global Funding II<sup>(c)</sup> <br>| 5.00% | 01/16/2027 | 4500 | &nbsp;&nbsp; 4549186 |
| Protective Life Global Funding<sup>(c)</sup> <br>| 5.37% | 01/06/2026 | 10339 | &nbsp;&nbsp; 10349823 |
| Reliance Standard Life Global Funding II<sup>(c)</sup> <br>| 5.24% | 02/02/2026 | 7125 | &nbsp;&nbsp; 7131663 |
|  |  |  |  | &nbsp;&nbsp; 252557404 |
| **Multi-line Insurance-0.93%** | **Multi-line Insurance-0.93%** | **Multi-line Insurance-0.93%** | **Multi-line Insurance-0.93%** | **Multi-line Insurance-0.93%** |
| Metropolitan Life Global Funding I<sup>(c)</sup> <br>| 4.15% | 08/25/2028 | 2800 | &nbsp;&nbsp; 2811154 |
| USAA Capital Corp.<sup>(c)</sup> <br>| 4.38% | 06/01/2028 | 3330 | &nbsp;&nbsp; 3373109 |
| USAA Capital Corp.<sup>(c)</sup> <br>| 5.25% | 06/01/2027 | 10000 | &nbsp;&nbsp; 10210834 |
|  |  |  |  | &nbsp;&nbsp; 16395097 |
| **Oil & Gas Storage & Transportation-0.65%** | **Oil & Gas Storage & Transportation-0.65%** | **Oil & Gas Storage & Transportation-0.65%** | **Oil & Gas Storage & Transportation-0.65%** | **Oil & Gas Storage & Transportation-0.65%** |
| Enbridge, Inc. (Canada) | 4.20% | 11/20/2028 | 3846 | &nbsp;&nbsp; 3856355 |
| Enbridge, Inc. (Canada) | 4.60% | 06/20/2028 | 2905 | &nbsp;&nbsp; 2937740 |
| Enbridge, Inc. (Canada) | 5.25% | 04/05/2027 | 4666 | &nbsp;&nbsp; 4729168 |
|  |  |  |  | &nbsp;&nbsp; 11523263 |
| **Packaged Foods & Meats-0.47%** | **Packaged Foods & Meats-0.47%** | **Packaged Foods & Meats-0.47%** | **Packaged Foods & Meats-0.47%** | **Packaged Foods & Meats-0.47%** |
| Campbell's Co. (The) | 5.30% | 03/20/2026 | 2352 | &nbsp;&nbsp; 2359720 |
| Mars, Inc.<sup>(c)</sup> <br>| 4.45% | 03/01/2027 | 5956 | &nbsp;&nbsp; 5997591 |
|  |  |  |  | &nbsp;&nbsp; 8357311 |
| **Pharmaceuticals-2.14%** | **Pharmaceuticals-2.14%** | **Pharmaceuticals-2.14%** | **Pharmaceuticals-2.14%** | **Pharmaceuticals-2.14%** |
| Bristol-Myers Squibb Co. (SOFR + 0.49%)<sup>(b)</sup> <br>| 4.61% | 02/20/2026 | 4651 | &nbsp;&nbsp; 4654487 |
| Eli Lilly and Co. | 4.00% | 10/15/2028 | 3333 | &nbsp;&nbsp; 3356160 |
| Eli Lilly and Co. | 5.00% | 02/27/2026 | 10257 | &nbsp;&nbsp; 10258030 |
| GlaxoSmithKline Capital PLC (United Kingdom) (SOFR + 0.50%)<sup>(b)</sup> <br>| 4.66% | 03/12/2027 | 6593 | &nbsp;&nbsp; 6617810 |
| Novartis Capital Corp. | 3.90% | 11/05/2028 | 5465 | &nbsp;&nbsp; 5488734 |
| Pfizer, Inc. (SOFR + 0.50%)<sup>(b)</sup> <br>| 4.62% | 11/15/2027 | 2692 | &nbsp;&nbsp; 2699427 |
| Zoetis, Inc. | 4.15% | 08/17/2028 | 4808 | &nbsp;&nbsp; 4840269 |
|  |  |  |  | &nbsp;&nbsp; 37914917 |
| **Regional Banks-0.65%** | **Regional Banks-0.65%** | **Regional Banks-0.65%** | **Regional Banks-0.65%** | **Regional Banks-0.65%** |
| Zions Bancorp. N.A.<sup>(d)</sup> <br>| 4.70% | 08/18/2028 | 11618 | &nbsp;&nbsp; 11609941 |
| **Retail REITs-0.21%** | **Retail REITs-0.21%** | **Retail REITs-0.21%** | **Retail REITs-0.21%** | **Retail REITs-0.21%** |
| Realty Income Corp. | 5.05% | 01/13/2026 | 3687 | &nbsp;&nbsp; 3687361 |
| **Self-Storage REITs-0.57%** | **Self-Storage REITs-0.57%** | **Self-Storage REITs-0.57%** | **Self-Storage REITs-0.57%** | **Self-Storage REITs-0.57%** |
| Public Storage Operating Co. (SOFR + 0.70%)<sup>(b)</sup> <br>| 4.82% | 04/16/2027 | 10000 | &nbsp;&nbsp; 10029904 |
| **Semiconductors-0.57%** | **Semiconductors-0.57%** | **Semiconductors-0.57%** | **Semiconductors-0.57%** | **Semiconductors-0.57%** |
| Advanced Micro Devices, Inc. | 4.21% | 09/24/2026 | 10000 | &nbsp;&nbsp; 10030889 |
| **Soft Drinks & Non-alcoholic Beverages-0.56%** | **Soft Drinks & Non-alcoholic Beverages-0.56%** | **Soft Drinks & Non-alcoholic Beverages-0.56%** | **Soft Drinks & Non-alcoholic Beverages-0.56%** | **Soft Drinks & Non-alcoholic Beverages-0.56%** |
| Keurig Dr Pepper, Inc. (SOFR + 0.88%)<sup>(b)</sup> <br>| 5.03% | 03/15/2027 | 10000 | &nbsp;&nbsp; 10005545 |
| **Specialty Chemicals-0.26%** | **Specialty Chemicals-0.26%** | **Specialty Chemicals-0.26%** | **Specialty Chemicals-0.26%** | **Specialty Chemicals-0.26%** |
| Sherwin-Williams Co. (The) | 4.55% | 03/01/2028 | 4587 | &nbsp;&nbsp; 4636359 |
| **Systems Software-0.84%** | **Systems Software-0.84%** | **Systems Software-0.84%** | **Systems Software-0.84%** | **Systems Software-0.84%** |
| Oracle Corp. | 1.65% | 03/25/2026 | 14972 | &nbsp;&nbsp; 14852767 |
| **Technology Hardware, Storage & Peripherals-0.56%** | **Technology Hardware, Storage & Peripherals-0.56%** | **Technology Hardware, Storage & Peripherals-0.56%** | **Technology Hardware, Storage & Peripherals-0.56%** | **Technology Hardware, Storage & Peripherals-0.56%** |
| Hewlett Packard Enterprise Co. | 4.05% | 09/15/2027 | 10000 | &nbsp;&nbsp; 9992929 |

---

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

**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** |
| **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%** | **Transaction & Payment Processing Services-0.25%** |
| PayPal Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45% | 03/06/2028 |  | $4464 | &nbsp;&nbsp; $4521730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Dollar Denominated Bonds & Notes (Cost $1,243,051,069) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Dollar Denominated Bonds & Notes (Cost $1,243,051,069) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Dollar Denominated Bonds & Notes (Cost $1,243,051,069) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Dollar Denominated Bonds & Notes (Cost $1,243,051,069) |  | &nbsp;&nbsp; 1249129381 |
| **Commercial Paper-11.04%**<sup>(e)</sup>  | **Commercial Paper-11.04%**<sup>(e)</sup>  | **Commercial Paper-11.04%**<sup>(e)</sup>  | **Commercial Paper-11.04%**<sup>(e)</sup>  | **Commercial Paper-11.04%**<sup>(e)</sup>  | **Commercial Paper-11.04%**<sup>(e)</sup>  |
| **Distributors-1.59%** | **Distributors-1.59%** | **Distributors-1.59%** | **Distributors-1.59%** | **Distributors-1.59%** | **Distributors-1.59%** |
| Genuine Parts Co.<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.31% | 12/02/2025 |  | 5150 | &nbsp;&nbsp; 5147688 |
| Genuine Parts Co.<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40% | 12/04/2025 |  | 18000 | &nbsp;&nbsp; 17987850 |
| Genuine Parts Co.<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.36% | 12/12/2025 |  | 5000 | &nbsp;&nbsp; 4992115 |
|  |  |  |  |  | &nbsp;&nbsp; 28127653 |
| **Diversified Banks-0.58%** | **Diversified Banks-0.58%** | **Diversified Banks-0.58%** | **Diversified Banks-0.58%** | **Diversified Banks-0.58%** | **Diversified Banks-0.58%** |
| HSBC USA, Inc.<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.27% | 08/27/2026 |  | 10500 | &nbsp;&nbsp; 10186454 |
| **Diversified Capital Markets-2.17%** | **Diversified Capital Markets-2.17%** | **Diversified Capital Markets-2.17%** | **Diversified Capital Markets-2.17%** | **Diversified Capital Markets-2.17%** | **Diversified Capital Markets-2.17%** |
| VW Credit, Inc. (Germany)<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.21% | 10/01/2026 |  | 9000 | &nbsp;&nbsp; 8696961 |
| Washington Morgan Capital Co. LLC; Series A<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.99% | 07/09/2026 |  | 10000 | &nbsp;&nbsp; 9759830 |
| Washington Morgan Capital Co. LLC; Series A (SOFR + 0.45%)<sup>(b)(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.46% | 07/17/2026 |  | 10000 | &nbsp;&nbsp; 10009977 |
| Washington Morgan Capital Co. LLC; Series A (SOFR + 0.50%)<sup>(b)(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.51% | 09/10/2026 |  | 10000 | &nbsp;&nbsp; 10009755 |
|  |  |  |  |  | &nbsp;&nbsp; 38476523 |
| **Health Care REITs-0.56%** | **Health Care REITs-0.56%** | **Health Care REITs-0.56%** | **Health Care REITs-0.56%** | **Health Care REITs-0.56%** | **Health Care REITs-0.56%** |
| Alexandria Real Estate Equities, Inc.<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.32% | 12/30/2025 |  | 10000 | &nbsp;&nbsp; 9963090 |
| **Independent Power Producers & Energy Traders-0.36%** | **Independent Power Producers & Energy Traders-0.36%** | **Independent Power Producers & Energy Traders-0.36%** | **Independent Power Producers & Energy Traders-0.36%** | **Independent Power Producers & Energy Traders-0.36%** | **Independent Power Producers & Energy Traders-0.36%** |
| AES Corp. (The)<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25% | 12/01/2025 |  | 6400 | &nbsp;&nbsp; 6397741 |
| **Integrated Telecommunication Services-1.20%** | **Integrated Telecommunication Services-1.20%** | **Integrated Telecommunication Services-1.20%** | **Integrated Telecommunication Services-1.20%** | **Integrated Telecommunication Services-1.20%** | **Integrated Telecommunication Services-1.20%** |
| TELUS Corp. (Canada)<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.96% | 01/16/2026 |  | 10540 | &nbsp;&nbsp; 10474631 |
| TELUS Corp. (Canada)<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.76% | 02/24/2026 |  | 8000 | &nbsp;&nbsp; 7911736 |
| TELUS Corp. (Canada)<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50% | 04/09/2026 |  | 3000 | &nbsp;&nbsp; 2950278 |
|  |  |  |  |  | &nbsp;&nbsp; 21336645 |
| **Leisure Products-0.56%** | **Leisure Products-0.56%** | **Leisure Products-0.56%** | **Leisure Products-0.56%** | **Leisure Products-0.56%** | **Leisure Products-0.56%** |
| Brunswick Corp.<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45% | 12/02/2025 |  | 10000 | &nbsp;&nbsp; 9994990 |
| **Oil & Gas Storage & Transportation-0.47%** | **Oil & Gas Storage & Transportation-0.47%** | **Oil & Gas Storage & Transportation-0.47%** | **Oil & Gas Storage & Transportation-0.47%** | **Oil & Gas Storage & Transportation-0.47%** | **Oil & Gas Storage & Transportation-0.47%** |
| Western Midstream Operating L.P.<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.31% | 12/04/2025 |  | 8300 | &nbsp;&nbsp; 8293775 |
| **Pharmaceuticals-0.55%** | **Pharmaceuticals-0.55%** | **Pharmaceuticals-0.55%** | **Pharmaceuticals-0.55%** | **Pharmaceuticals-0.55%** | **Pharmaceuticals-0.55%** |
| Bayer Corp. (Germany)<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.54% | 08/03/2026 |  | 10000 | &nbsp;&nbsp; 9726870 |
| **Specialized Finance-0.78%** | **Specialized Finance-0.78%** | **Specialized Finance-0.78%** | **Specialized Finance-0.78%** | **Specialized Finance-0.78%** | **Specialized Finance-0.78%** |
| HA Sustainable Infrastructure Capital, Inc.<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.62% | 12/17/2025 |  | 9800 | &nbsp;&nbsp; 9776245 |
| HA Sustainable Infrastructure Capital, Inc.<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.62% | 12/18/2025 |  | 4000 | &nbsp;&nbsp; 3989748 |
|  |  |  |  |  | &nbsp;&nbsp; 13765993 |
| **Systems Software-0.51%** | **Systems Software-0.51%** | **Systems Software-0.51%** | **Systems Software-0.51%** | **Systems Software-0.51%** | **Systems Software-0.51%** |
| Oracle Corp.<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.27% | 01/16/2026 |  | 9000 | &nbsp;&nbsp; 8950752 |
| **Technology Distributors-0.55%** | **Technology Distributors-0.55%** | **Technology Distributors-0.55%** | **Technology Distributors-0.55%** | **Technology Distributors-0.55%** | **Technology Distributors-0.55%** |
| Arrow Electronics, Inc.<sup>(c)</sup> <br>| 4.20%-4.21% | 12/02/2025 |  | 9700 | &nbsp;&nbsp; 9695402 |
| **Telecom Tower REITs-0.56%** | **Telecom Tower REITs-0.56%** | **Telecom Tower REITs-0.56%** | **Telecom Tower REITs-0.56%** | **Telecom Tower REITs-0.56%** | **Telecom Tower REITs-0.56%** |
| Crown Castle, Inc.<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.37% | 12/16/2025 |  | 10000 | &nbsp;&nbsp; 9977850 |
| **Trading Companies & Distributors-0.60%** | **Trading Companies & Distributors-0.60%** | **Trading Companies & Distributors-0.60%** | **Trading Companies & Distributors-0.60%** | **Trading Companies & Distributors-0.60%** | **Trading Companies & Distributors-0.60%** |
| Air Lease Corp.<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.26% | 12/11/2025 |  | 10600 | &nbsp;&nbsp; 10583538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Commercial Paper (Cost $195,467,236) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Commercial Paper (Cost $195,467,236) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Commercial Paper (Cost $195,467,236) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Commercial Paper (Cost $195,467,236) |  | &nbsp;&nbsp; 195477276 |
| **Asset-Backed Securities-9.87%** | **Asset-Backed Securities-9.87%** | **Asset-Backed Securities-9.87%** | **Asset-Backed Securities-9.87%** | **Asset-Backed Securities-9.87%** | **Asset-Backed Securities-9.87%** |
| **Auto Loans/Leases-7.42%** | **Auto Loans/Leases-7.42%** | **Auto Loans/Leases-7.42%** | **Auto Loans/Leases-7.42%** | **Auto Loans/Leases-7.42%** | **Auto Loans/Leases-7.42%** |
| AutoNation Finance Trust; Series 2025-1A, Class A2<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.72% | 04/10/2028 |  | 4627 | &nbsp;&nbsp; 4637743 |
| BMW Vehicle Lease Trust; Series 2024-2, Class A2A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.29% | 01/25/2027 |  | 1593 | &nbsp;&nbsp; 1593911 |

---

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

**Invesco Conservative Income Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &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)** |
| CarMax Auto Owner Trust; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024-1, Class A3 | 4.92% | 10/16/2028 | $9360 | &nbsp;&nbsp; $9426044 |
| &nbsp;&nbsp;&nbsp; Series 2025-2, Class A2A | 4.59% | 07/17/2028 | 3402 | &nbsp;&nbsp; 3411616 |
| CCG Receivables Trust; Series 2025-1, Class A2<sup>(c)</sup> <br>| 4.48% | 10/14/2032 | 4397 | &nbsp;&nbsp; 4419348 |
| Chesapeake Funding II LLC (Canada); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2023-1A, Class A1<sup>(c)</sup> <br>| 5.65% | 05/15/2035 | 1804 | &nbsp;&nbsp; 1814129 |
| &nbsp;&nbsp;&nbsp; Series 2023-2A, Class A2 (30 Day Average SOFR + 1.10%)<sup>(b)(c)</sup> <br>| 5.24% | 10/15/2035 | 5690 | &nbsp;&nbsp; 5714306 |
| &nbsp;&nbsp;&nbsp; Series 2024-1A, Class A2 (30 Day Average SOFR + 0.77%)<sup>(b)(c)</sup> <br>| 4.91% | 05/15/2036 | 1478 | &nbsp;&nbsp; 1478381 |
| Citizens Auto Receivables Trust; Series 2024-2, Class A3<sup>(c)</sup> <br>| 5.33% | 08/15/2028 | 6825 | &nbsp;&nbsp; 6873218 |
| DLLST LLC; Series 2024-1A, Class A3<sup>(c)</sup> <br>| 5.05% | 08/20/2027 | 4204 | &nbsp;&nbsp; 4222165 |
| Enterprise Fleet Financing LLC; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2023-3, Class A2<sup>(c)</sup> <br>| 6.40% | 03/20/2030 | 4408 | &nbsp;&nbsp; 4467805 |
| &nbsp;&nbsp;&nbsp; Series 2024-1, Class A2<sup>(c)</sup> <br>| 5.23% | 03/20/2030 | 2065 | &nbsp;&nbsp; 2081354 |
| &nbsp;&nbsp;&nbsp; Series 2024-3, Class A2<sup>(c)</sup> <br>| 5.31% | 04/20/2027 | 1851 | &nbsp;&nbsp; 1860348 |
| &nbsp;&nbsp;&nbsp; Series 2024-4, Class A2<sup>(c)</sup> <br>| 4.69% | 07/20/2027 | 3225 | &nbsp;&nbsp; 3234969 |
| &nbsp;&nbsp;&nbsp; GM Financial Automobile Leasing Trust; Series 2025-2, Class A2B (30 Day Average <br> SOFR + 0.50%)<sup>(b)</sup> <br>| 4.60% | 07/20/2027 | 2447 | &nbsp;&nbsp; 2450168 |
| GreatAmerica Leasing Receivables Funding LLC; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024-2, Class A3<sup>(c)</sup> <br>| 5.00% | 09/15/2028 | 4000 | &nbsp;&nbsp; 4057710 |
| &nbsp;&nbsp;&nbsp; Series 2025-1, Class A2<sup>(c)</sup> <br>| 4.52% | 10/15/2027 | 2600 | &nbsp;&nbsp; 2608695 |
| Harley-Davidson Motorcycle Trust; Series 2025-A, Class A2A | 4.71% | 07/17/2028 | 2242 | &nbsp;&nbsp; 2248342 |
| Hyundai Auto Lease Securitization Trust; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024-C, Class A2B (30 Day Average SOFR + 0.50%)<sup>(b)(c)</sup> <br>| 4.64% | 03/15/2027 | 1868 | &nbsp;&nbsp; 1869159 |
| &nbsp;&nbsp;&nbsp; Series 2025-B, Class A3<sup>(c)</sup> <br>| 4.53% | 04/17/2028 | 3200 | &nbsp;&nbsp; 3227885 |
| &nbsp;&nbsp;&nbsp; Hyundai Auto Receivables Trust; Series 2025-A, Class A2B (30 Day Average SOFR + <br> 0.34%)<sup>(b)</sup> <br>| 4.48% | 12/15/2027 | 6521 | &nbsp;&nbsp; 6524442 |
| John Deere Owner Trust; Series 2025-A, Class A2B (30 Day Average SOFR + 0.29%)<sup>(b)</sup> <br>| 4.43% | 03/15/2028 | 4083 | &nbsp;&nbsp; 4083193 |
| M&T Equipment LLC; Series 2025-1A, Class A2<sup>(c)</sup> <br>| 4.70% | 12/16/2027 | 4000 | &nbsp;&nbsp; 4025950 |
| Mercedes-Benz Auto Lease Trust; Series 2024-A, Class A2A | 5.44% | 02/16/2027 | 1886 | &nbsp;&nbsp; 1888741 |
| Porsche Innovative Lease Owner Trust; Series 2024-1A, Class A3<sup>(c)</sup> <br>| 4.67% | 11/22/2027 | 2500 | &nbsp;&nbsp; 2509730 |
| Toyota Auto Receivables Owner Trust; Series 2025-B, Class A2A | 4.46% | 03/15/2028 | 6186 | &nbsp;&nbsp; 6198655 |
| Westlake Automobile Receivables Trust; Series 2025-P1, Class A2<sup>(c)</sup> <br>| 4.65% | 02/15/2028 | 5300 | &nbsp;&nbsp; 5313676 |
| Wheels Fleet Lease Funding 1 LLC; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2023-2A, Class A<sup>(c)</sup> <br>| 6.46% | 08/18/2038 | 4354 | &nbsp;&nbsp; 4408181 |
| &nbsp;&nbsp;&nbsp; Series 2024-1A, Class A2 (1 mo. Term SOFR + 0.83%)<sup>(b)(c)</sup> <br>| 4.79% | 02/18/2039 | 3060 | &nbsp;&nbsp; 3068889 |
| &nbsp;&nbsp;&nbsp; Series 2024-2A, Class A2 (1 mo. Term SOFR + 1.00%)<sup>(b)(c)</sup> <br>| 4.96% | 06/21/2039 | 3182 | &nbsp;&nbsp; 3203049 |
| &nbsp;&nbsp;&nbsp; Series 2025-1A, Class A1<sup>(c)</sup> <br>| 4.57% | 01/18/2040 | 6750 | &nbsp;&nbsp; 6799006 |
| &nbsp;&nbsp;&nbsp; Series 2025-2A, Class A1<sup>(c)</sup> <br>| 4.41% | 05/18/2040 | 10000 | &nbsp;&nbsp; 10078019 |
| &nbsp;&nbsp;&nbsp; World Omni Automobile Lease Securitization Trust; Series 2025-A, Class A2B (30 Day <br> Average SOFR + 0.39%)<sup>(b)</sup> <br>| 4.53% | 12/15/2027 | 1501 | &nbsp;&nbsp; 1502190 |
|  |  |  |  | &nbsp;&nbsp; 131301017 |
| **Collateralized Mortgage Obligations-0.85%** | **Collateralized Mortgage Obligations-0.85%** | **Collateralized Mortgage Obligations-0.85%** | **Collateralized Mortgage Obligations-0.85%** | **Collateralized Mortgage Obligations-0.85%** |
| Barings Equipment Finance LLC; Series 2025-B, Class A2<sup>(c)</sup> <br>| 4.02% | 02/13/2029 | 3200 | &nbsp;&nbsp; 3204679 |
| Enterprise Fleet Financing LLC; Series 2025-4, Class A2<sup>(c)</sup> <br>| 4.05% | 08/20/2028 | 3600 | &nbsp;&nbsp; 3606205 |
| 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; 2910928 |
| Wheels Fleet Lease Funding 1 LLC; Series 2025-3A, Class A1<sup>(c)</sup> <br>| 4.08% | 09/18/2040 | 5350 | &nbsp;&nbsp; 5351371 |
|  |  |  |  | &nbsp;&nbsp; 15073183 |
| **Equipment Leasing-0.31%** | **Equipment Leasing-0.31%** | **Equipment Leasing-0.31%** | **Equipment Leasing-0.31%** | **Equipment Leasing-0.31%** |
| Dell Equipment Finance Trust; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024-1, Class A3<sup>(c)</sup> <br>| 5.39% | 03/22/2030 | 2698 | &nbsp;&nbsp; 2717269 |
| &nbsp;&nbsp;&nbsp; Series 2025-1, Class A3<sup>(c)</sup> <br>| 4.61% | 02/24/2031 | 2480 | &nbsp;&nbsp; 2503950 |
| HPEFS Equipment Trust; Series 2024-2A, Class A2<sup>(c)</sup> <br>| 5.50% | 10/20/2031 | 253 | &nbsp;&nbsp; 253512 |
|  |  |  |  | &nbsp;&nbsp; 5474731 |
| **Specialized Finance-1.29%** | **Specialized Finance-1.29%** | **Specialized Finance-1.29%** | **Specialized Finance-1.29%** | **Specialized Finance-1.29%** |
| First National Master Note Trust; Series 2024-1, Class A | 5.34% | 05/15/2030 | 3870 | &nbsp;&nbsp; 3950139 |

---

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

**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** |
| **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** |
| Navient Private Education Refi Loan Trust; |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2020-FA, Class A<sup>(c)</sup> <br>| 1.22% | 07/15/2069 |  | $3565 | &nbsp;&nbsp; $3379616 |
| &nbsp;&nbsp;&nbsp; Series 2021-FA, Class A<sup>(c)</sup> <br>| 1.11% | 02/18/2070 |  | 2478 | &nbsp;&nbsp; 2215460 |
| Synchrony Card Funding LLC; Series 2024-A1, Class A | 5.04% | 03/15/2030 |  | 10000 | &nbsp;&nbsp; 10143776 |
| Volvo Financial Equipment LLC; Series 2025-1A, Class A2<sup>(c)</sup> <br>| 4.41% | 11/15/2027 |  | 3150 | &nbsp;&nbsp; 3156284 |
|  |  |  |  |  | &nbsp;&nbsp; 22845275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities (Cost $174,159,411) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities (Cost $174,159,411) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities (Cost $174,159,411) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities (Cost $174,159,411) |  | &nbsp;&nbsp; 174694206 |
| **Certificates of Deposit-2.26%** | **Certificates of Deposit-2.26%** | **Certificates of Deposit-2.26%** | **Certificates of Deposit-2.26%** | **Certificates of Deposit-2.26%** | **Certificates of Deposit-2.26%** |
| **Diversified Banks-2.26%** | **Diversified Banks-2.26%** | **Diversified Banks-2.26%** | **Diversified Banks-2.26%** | **Diversified Banks-2.26%** | **Diversified Banks-2.26%** |
| Deutsche Bank AG (Germany) | 4.44% | 08/03/2026 |  | 10000 | &nbsp;&nbsp; 10031730 |
| Intesa Sanpaolo S.p.A. | 5.00% | 01/07/2026 |  | 10000 | &nbsp;&nbsp; 10008750 |
| Intesa Sanpaolo S.p.A. (Italy) (SOFR + 0.70%)<sup>(b)</sup> <br>| 4.82% | 07/17/2026 |  | 10000 | &nbsp;&nbsp; 10009400 |
| Natixis S.A. (France) (SOFR + 0.60%)<sup>(b)</sup> <br>| 4.72% | 10/18/2027 |  | 10000 | &nbsp;&nbsp; 10012663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Certificates of Deposit (Cost $40,000,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Certificates of Deposit (Cost $40,000,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Certificates of Deposit (Cost $40,000,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Certificates of Deposit (Cost $40,000,000) |  | &nbsp;&nbsp; 40062543 |
| **U.S. Treasury Securities-0.57%** | **U.S. Treasury Securities-0.57%** | **U.S. Treasury Securities-0.57%** | **U.S. Treasury Securities-0.57%** | **U.S. Treasury Securities-0.57%** | **U.S. Treasury Securities-0.57%** |
| **U.S. Treasury Notes-0.57%** | **U.S. Treasury Notes-0.57%** | **U.S. Treasury Notes-0.57%** | **U.S. Treasury Notes-0.57%** | **U.S. Treasury Notes-0.57%** | **U.S. Treasury Notes-0.57%** |
| U.S. Treasury Notes (Cost $9,985,596) | 4.50% | 03/31/2026 |  | 10000 | &nbsp;&nbsp; 10021931 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-94.29% <br>(Cost $1,662,663,312) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-94.29% <br>(Cost $1,662,663,312) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-94.29% <br>(Cost $1,662,663,312) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-94.29% <br>(Cost $1,662,663,312) |  | &nbsp;&nbsp; 1669385337 |
|  |  |  | &nbsp;&nbsp; **Repurchase**<br> **Amount** | &nbsp;&nbsp; **Repurchase**<br> **Amount** |  |
| **Repurchase Agreements-5.36%**<sup>(f)</sup>  | **Repurchase Agreements-5.36%**<sup>(f)</sup>  | **Repurchase Agreements-5.36%**<sup>(f)</sup>  | **Repurchase Agreements-5.36%**<sup>(f)</sup>  | **Repurchase Agreements-5.36%**<sup>(f)</sup>  | **Repurchase Agreements-5.36%**<sup>(f)</sup>  |
| &nbsp;&nbsp;&nbsp; BofA Securities, Inc., term agreement dated 11/03/2025, maturing value of <br> $20,007,533 (collateralized by corporate obligations valued at $21,754,839; <br> 0.00% - 8.00%; 07/15/2030 - 07/25/2041)<sup>(g)</sup> <br>| 4.52% | 12/01/2025 |  | 20007533 | &nbsp;&nbsp; 20000000 |
| &nbsp;&nbsp;&nbsp; CF Secured LLC, joint open agreement dated 02/07/2025 (collateralized by agency and <br> non-agency mortgage-backed securities and non-agency asset-backed securities <br> valued at $27,176,948; 0.00% - 7.51%; 06/15/2028 - 05/20/2072)<sup>(h)</sup> <br>| 4.80% | 12/01/2025 |  | 15055167 | &nbsp;&nbsp; 15000000 |
| &nbsp;&nbsp;&nbsp; Citigroup Global Markets, Inc., joint open agreement dated 05/15/2024 (collateralized <br> by non-agency mortgage-backed securities valued at $197,080,886; 0.00% - <br> 13.08%; 11/15/2026 - 04/25/2050)<sup>(h)</sup> <br>| 4.58% | 12/01/2025 |  | 20071161 | &nbsp;&nbsp; 20000000 |
| &nbsp;&nbsp;&nbsp; Nomura Securities International, Inc., joint term agreement dated 11/10/2025, <br> aggregate maturing value of $30,011,575 (collateralized by non-agency <br> mortgage-backed securities and non-agency asset-backed securities valued at <br> $33,000,000; 0.00% - 8.42%; 08/25/2028 - 03/25/2070)<sup>(g)</sup> <br>| 4.63% | 12/01/2025 |  | 20007717 | &nbsp;&nbsp; 20000000 |
| &nbsp;&nbsp;&nbsp; Santander US Capital Markets LLC, joint term agreement dated 11/17/2025, aggregate <br> maturing value of $30,011,875 (collateralized by non-agency asset-backed <br> securities valued at $33,399,566; 1.79% - 6.22%; 10/15/2026 - <br> 04/25/2047)<sup>(g)</sup> <br>| 4.75% | 12/01/2025 |  | 20007917 | &nbsp;&nbsp; 20000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Repurchase Agreements (Cost $95,000,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Repurchase Agreements (Cost $95,000,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Repurchase Agreements (Cost $95,000,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Repurchase Agreements (Cost $95,000,000) |  | &nbsp;&nbsp; 95000000 |
| TOTAL INVESTMENTS IN SECURITIES-99.65% (Cost $1,757,663,312) | TOTAL INVESTMENTS IN SECURITIES-99.65% (Cost $1,757,663,312) | TOTAL INVESTMENTS IN SECURITIES-99.65% (Cost $1,757,663,312) | TOTAL INVESTMENTS IN SECURITIES-99.65% (Cost $1,757,663,312) |  | &nbsp;&nbsp; 1764385337 |
| OTHER ASSETS LESS LIABILITIES-0.35% | OTHER ASSETS LESS LIABILITIES-0.35% | OTHER ASSETS LESS LIABILITIES-0.35% | OTHER ASSETS LESS LIABILITIES-0.35% |  | &nbsp;&nbsp; 6240374 |
| NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% |  | &nbsp;&nbsp; $1770625711 |

---

Investment Abbreviations:

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

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

**Invesco Conservative Income Fund**

------

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 November 30, 2025.

<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 November 30, 2025 was $784,738,396, which represented 44.32% 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. 

<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. 

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

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

**Invesco Conservative Income Fund**

------

**Notes to Quarterly Schedule of Portfolio Holdings**

*November 30, 2025*

*(Unaudited)*

**NOTE 1—Additional Valuation Information**

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

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

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

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

As of November 30, 2025, 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.

**Invesco Conservative Income Fund**

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Invesco Management Trust

- **b. Investment Company Act file number:** 811-22957

- **c. CIK number of Registrant:** 0001605283

- **d. LEI of Registrant:** 549300E714CZKBPA2O91

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

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

  - **City:** Houston

  - **State:** TX

  - **Foreign country:** US

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

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

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

- **a. Name of Series:** Invesco Conservative Income Fund

- **b. EDGAR series identifier (if any):** S000045836

- **c. LEI of Series:** 549300DF8ZMA5QG3GE34

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

- **a. Date of fiscal year-end:** 2026-08-31

- **b. Date as of which information is reported:** 2025-11-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1777628977.23

**Total Liabilities:** $7003265.75

**Net Assets:** $1770625711.48

**Cash Not Reported:** $301723.51

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -14555.54229258 | **1-Year:** -121369.64800771 | **5-Year:** -45423.24814662 | **10-Year:** -14.81389392 | **30-Year:** 0.00000000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000142880 | 0.39%                | 0.39%                | 0.37%                |
| Class ID C000199848 | 0.38%                | 0.38%                | 0.36%                |
| Class ID C000217951 | 0.38%                | 0.29%                | 0.37%                |
| Class ID C000217952 | 0.38%                | 0.39%                | 0.37%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-124.01                 | $510146.70                                 |
| Month 2  | $30390.76                | $-746629.83                                |
| Month 3  | $-205.16                 | $119202.48                                 |

### Schedule of Portfolio Investments

| Name                                                        | Title                                                                               | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Capital One Financial Corp.                                 | Capital One Financial Corp.                                                         | CUSIP: 14040HBN4<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   6081000 | PA      | $6056010.07   | 0.34%             | 2027-03-09      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                     | Hyundai Capital America                                                             | CUSIP: 44891ABD8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1987969.52   | 0.11%             | 2026-11-02      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Ares Capital Corp.                                          | Ares Capital Corp.                                                                  | CUSIP: 04010LAZ6<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |  11946000 | PA      | $11934106.44  | 0.67%             | 2026-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Blue Owl Capital Corp.                                      | Blue Owl Capital Corp.                                                              | CUSIP: 69121KAD6<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9980254.80   | 0.56%             | 2026-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Navient Private Education Refi Loan Trust                   | Navient Private Education Refi Loan Trust, Series 2020-FA, Class A                  | CUSIP: 63941XAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3565414 | PA      | $3379615.55   | 0.19%             | 2069-07-15      | Fixed         | 1.22%                 | No            |                  2 | On Loan: No      |
| Societe Generale                                            | Societe Generale                                                                    | CUSIP: 83368RAZ5<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |  10437000 | PA      | $10423099.90  | 0.59%             | 2026-12-14      | Variable      | 1.49%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                | Oracle Corp.                                                                        | CUSIP: 68389XCC7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |  14972000 | PA      | $14852767.18  | 0.84%             | 2026-03-25      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| eBay Inc.                                                   | eBay Inc.                                                                           | CUSIP: 278642AX1<br>LEI: OML71K8X303XQONU6T67 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4449395.25   | 0.25%             | 2026-05-10      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.                       | Sumitomo Mitsui Financial Group, Inc.                                               | CUSIP: 86562MCG3<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |  10000000 | PA      | $9444771.90   | 0.53%             | 2028-09-17      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| Navient Private Education Refi Loan Trust                   | Navient Private Education Refi Loan Trust, Series 2021-FA, Class A                  | CUSIP: 63942GAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2478228 | PA      | $2215460.13   | 0.13%             | 2070-02-18      | Fixed         | 1.11%                 | No            |                  2 | On Loan: No      |
| GA Global Funding Trust                                     | GA Global Funding Trust                                                             | CUSIP: 36143L2G9<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |   3700000 | PA      | $3623033.19   | 0.20%             | 2027-01-06      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                 | Capital One Financial Corp.                                                         | CUSIP: 14040HCS2<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10106885.60  | 0.57%             | 2028-05-10      | Variable      | 4.93%                 | No            |                  2 | On Loan: No      |
| Protective Life Global Funding                              | Protective Life Global Funding                                                      | CUSIP: 74368CBQ6<br>LEI: 635400EVYITCJYWL2I50 | Long             | DBT              | CORP              | US        |  10339000 | PA      | $10349822.56  | 0.58%             | 2026-01-06      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| Jackson National Life Global Funding                        | Jackson National Life Global Funding                                                | CUSIP: 46849LUX7<br>LEI: 635400PQXLYXWJI5QD78 | Long             | DBT              | CORP              | US        |  16667000 | PA      | $16686846.90  | 0.94%             | 2026-01-09      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| National Australia Bank Ltd.                                | National Australia Bank Ltd.                                                        | CUSIP: 63253QAA2<br>LEI: 549300E2IPL06NDXMZ63 | Long             | DBT              | CORP              | AU        |  13334000 | PA      | $13345640.45  | 0.75%             | 2026-01-12      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| Realty Income Corp.                                         | Realty Income Corp.                                                                 | CUSIP: 756109BQ6<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |   3687000 | PA      | $3687361.25   | 0.21%             | 2026-01-13      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Reliance Standard Life Global Funding II                    | Reliance Standard Life Global Funding II                                            | CUSIP: 75951ACY2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7125000 | PA      | $7131663.37   | 0.40%             | 2026-02-02      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| Eli Lilly and Co.                                           | Eli Lilly and Co.                                                                   | CUSIP: 532457CE6<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |  10257000 | PA      | $10258030.32  | 0.58%             | 2026-02-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth Bank of Australia                              | Commonwealth Bank of Australia                                                      | CUSIP: 2027A0KQ1<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |  14512000 | PA      | $14530364.65  | 0.82%             | 2026-03-13      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Finance North America LLC                     | Mercedes-Benz Finance North America LLC                                             | CUSIP: 58769JAF4<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |  11104000 | PA      | $11126594.20  | 0.63%             | 2026-03-30      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Lowe`s Cos., Inc.                                           | Lowe`s Cos., Inc.                                                                   | CUSIP: 548661EP8<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   6766000 | PA      | $6777874.67   | 0.38%             | 2026-04-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Chesapeake Funding II LLC                                   | Chesapeake Funding II LLC, Series 2023-1A, Class A1                                 | CUSIP: 165183CU6<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |   1803563 | PA      | $1814129.31   | 0.10%             | 2035-05-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Swedbank AB                                                 | Swedbank AB                                                                         | CUSIP: 870195AA2<br>LEI: M312WZV08Y7LYUC71685 | Long             | DBT              | CORP              | SE        |  15000000 | PA      | $15084454.20  | 0.85%             | 2026-06-15      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| Met Tower Global Funding                                    | Met Tower Global Funding                                                            | CUSIP: 58989V2F0<br>LEI: 635400OFJCY9IOGBGY57 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10074632.20  | 0.57%             | 2026-06-20      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Corebridge Global Funding                                   | Corebridge Global Funding                                                           | CUSIP: 00138CAU2<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |   7758000 | PA      | $7836812.98   | 0.44%             | 2026-07-02      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                 | Toronto-Dominion Bank (The)                                                         | CUSIP: 89115A2T8<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |  13050000 | PA      | $13115114.54  | 0.74%             | 2026-07-17      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| MassMutual Global Funding II                                | MassMutual Global Funding II                                                        | CUSIP: 57629TBQ9<br>LEI: 549300K1IE3K7YU6VG29 | Long             | DBT              | CORP              | US        |  13500000 | PA      | $13557652.56  | 0.77%             | 2026-07-10      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Pacific Life Global Funding II                              | Pacific Life Global Funding II                                                      | CUSIP: 6944PL2V0<br>LEI: 6354003EUPCHXTWUU869 | Long             | DBT              | CORP              | US        |  12500000 | PA      | $12565334.00  | 0.71%             | 2026-07-28      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| State Street Corp.                                          | State Street Corp.                                                                  | CUSIP: 857477CE1<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |  14458000 | PA      | $14503083.95  | 0.82%             | 2026-08-03      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| Bank of America, N.A.                                       | Bank of America, N.A.                                                               | CUSIP: 06428CAA2<br>LEI: B4TYDEB6GKMZO031MB27 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15142775.55  | 0.86%             | 2026-08-18      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| Pricoa Global Funding I                                     | Pricoa Global Funding I                                                             | CUSIP: 74153WCT4<br>LEI: 635400IBXEBMD9ADYA79 | Long             | DBT              | CORP              | US        |   3407000 | PA      | $3445628.57   | 0.19%             | 2026-08-28      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| BHP Billiton Finance (USA) Ltd.                             | BHP Billiton Finance (USA) Ltd.                                                     | CUSIP: 055451BB3<br>LEI: 5493003NUVITP3TMY274 | Long             | DBT              | CORP              | AU        |  14815000 | PA      | $14953152.69  | 0.84%             | 2026-09-08      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ING Groep N.V.                                              | ING Groep N.V.                                                                      | CUSIP: 456837BJ1<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |  10000000 | PA      | $10080114.60  | 0.57%             | 2027-09-11      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Trust Bank, Ltd.                            | Sumitomo Mitsui Trust Bank, Ltd.                                                    | CUSIP: 86563VBK4<br>LEI: 5493006GGLR4BTEL8O61 | Long             | DBT              | CORP              | JP        |   4349000 | PA      | $4405674.21   | 0.25%             | 2026-09-14      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Swedbank AB                                                 | Swedbank AB                                                                         | CUSIP: 87020PAX5<br>LEI: M312WZV08Y7LYUC71685 | Long             | DBT              | CORP              | SE        |   8130000 | PA      | $8262201.12   | 0.47%             | 2026-09-12      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| Chesapeake Funding II LLC                                   | Chesapeake Funding II LLC, Series 2023-2A, Class A2                                 | CUSIP: 165183DA9<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |   5689746 | PA      | $5714306.03   | 0.32%             | 2035-10-15      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| Corebridge Global Funding                                   | Corebridge Global Funding                                                           | CUSIP: 00138CAW8<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15101404.05  | 0.85%             | 2026-09-25      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                          | Canadian Imperial Bank of Commerce                                                  | CUSIP: 13607LWU3<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |  15000000 | PA      | $15111336.30  | 0.85%             | 2026-10-02      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                              | Enterprise Fleet Financing LLC, Series 2023-3, Class A2                             | CUSIP: 29374LAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4408103 | PA      | $4467805.39   | 0.25%             | 2030-03-20      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                 | Toronto-Dominion Bank (The)                                                         | CUSIP: 89114XC43<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   9800000 | PA      | $9819363.04   | 0.55%             | 2026-10-20      | Variable      | 5.07%                 | No            |                  2 | On Loan: No      |
| Wheels Fleet Lease Funding 1 LLC                            | Wheels Fleet Lease Funding 1 LLC, Series 2023-2A, Class A                           | CUSIP: 96328GBG1<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-O            | CORP              | US        |   4353960 | PA      | $4408180.65   | 0.25%             | 2038-08-18      | Fixed         | 6.46%                 | No            |                  2 | On Loan: No      |
| Volkswagen Group of America Finance, LLC                    | Volkswagen Group of America Finance, LLC                                            | CUSIP: 928668CA8<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |   9785000 | PA      | $9949657.97   | 0.56%             | 2026-11-16      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp.                                   | Toyota Motor Credit Corp.                                                           | CUSIP: 89236TLD5<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8122568.32   | 0.46%             | 2026-11-20      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank, N.A.                                   | JPMorgan Chase Bank, N.A.                                                           | CUSIP: 48125LRU8<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | DBT              | CORP              | US        |   7589000 | PA      | $7674086.20   | 0.43%             | 2026-12-08      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp.                                   | Toyota Motor Credit Corp.                                                           | CUSIP: 89236TLK9<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15005549.40  | 0.85%             | 2026-01-05      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| Principal Life Global Funding II                            | Principal Life Global Funding II                                                    | CUSIP: 74256LEX3<br>LEI: 635400WSLKBQWSOIIT41 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4549185.63   | 0.26%             | 2027-01-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Australia and New Zealand Banking Group Ltd.                | Australia and New Zealand Banking Group Ltd.                                        | CUSIP: 05252ADJ7<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |  14000000 | PA      | $14065314.76  | 0.79%             | 2027-01-18      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                        | Royal Bank of Canada                                                                | CUSIP: 78016HZU7<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |  16667000 | PA      | $16775039.49  | 0.95%             | 2027-01-19      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| DLLST LLC                                                   | DLLST LLC, Series 2024-1A, Class A3                                                 | CUSIP: 23346HAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4204027 | PA      | $4222164.96   | 0.24%             | 2027-08-20      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Bank, N.A.                                      | Wells Fargo Bank, N.A.                                                              | CUSIP: 94988J6J1<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | DBT              | CORP              | US        |   6400000 | PA      | $6402636.54   | 0.36%             | 2026-01-15      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                                     | CarMax Auto Owner Trust, Series 2024-1, Class A3                                    | CUSIP: 14318WAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9360069 | PA      | $9426044.33   | 0.53%             | 2028-10-16      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| MassMutual Global Funding II                                | MassMutual Global Funding II                                                        | CUSIP: 57629TBR7<br>LEI: 549300K1IE3K7YU6VG29 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15074995.05  | 0.85%             | 2027-01-29      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                              | Enterprise Fleet Financing LLC, Series 2024-1, Class A2                             | CUSIP: 29375PAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2065383 | PA      | $2081354.28   | 0.12%             | 2030-03-20      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                       | NextEra Energy Capital Holdings, Inc.                                               | CUSIP: 65339KCR9<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |  11456000 | PA      | $11467393.56  | 0.65%             | 2026-01-29      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co.                                    | Bristol-Myers Squibb Co.                                                            | CUSIP: 110122EM6<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |   4651000 | PA      | $4654487.46   | 0.26%             | 2026-02-20      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Trust Bank, Ltd.                            | Sumitomo Mitsui Trust Bank, Ltd.                                                    | CUSIP: 86563VBP3<br>LEI: 5493006GGLR4BTEL8O61 | Long             | DBT              | CORP              | JP        |   6557000 | PA      | $6654084.25   | 0.38%             | 2027-03-07      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper Inc.                                       | Keurig Dr Pepper Inc.                                                               | CUSIP: 49271VAS9<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10005545.10  | 0.57%             | 2027-03-15      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| John Deere Capital Corp.                                    | John Deere Capital Corp.                                                            | CUSIP: 24422EXL8<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10008404.10  | 0.57%             | 2026-03-06      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| Synchrony Card Funding, LLC                                 | Synchrony Card Funding, LLC, Series 2024-A1, Class A                                | CUSIP: 87166PAM3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10000000 | PA      | $10143776.00  | 0.57%             | 2030-03-15      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                             | Nordea Bank Abp                                                                     | CUSIP: 65558RAF6<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |  14286000 | PA      | $14356117.12  | 0.81%             | 2027-03-19      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Inc.                               | Citigroup Global Markets Inc.                                                       | CUSIP: N/A<br>LEI: MBNUM2BPBDO7JBLYG310       | Long             | RA               | CORP              | US        |  20000000 | PA      | $20000000.00  | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo S.p.A.                                      | Intesa Sanpaolo S.p.A.                                                              | CUSIP: 46115K5A4<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10008750.00  | 0.57%             | 2026-01-07      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CF Secured, LLC                                             | CF Secured, LLC                                                                     | CUSIP: N/A<br>LEI: 254900OXTV81I73FAT50       | Long             | RA               | CORP              | US        |  15000000 | PA      | $15000000.00  | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Volkswagen Group of America Finance, LLC                    | Volkswagen Group of America Finance, LLC                                            | CUSIP: 928668CD2<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10013363.50  | 0.57%             | 2026-03-20      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Campbell's Co. (The)                                        | Campbell's Co. (The)                                                                | CUSIP: 134429BL2<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | DBT              | CORP              | US        |   2352000 | PA      | $2359720.37   | 0.13%             | 2026-03-20      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Athene Global Funding                                       | Athene Global Funding                                                               | CUSIP: 04685A3U3<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $12092003.88  | 0.68%             | 2027-03-25      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| U.S. Treasury Notes                                         | U.S. Treasury Notes                                                                 | CUSIP: 91282CKH3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $10021931.30  | 0.57%             | 2026-03-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Glencore Funding LLC                                        | Glencore Funding LLC                                                                | CUSIP: 378272BW7<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |   8522000 | PA      | $8558514.72   | 0.48%             | 2027-04-04      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| Pacific Life Global Funding II                              | Pacific Life Global Funding II                                                      | CUSIP: 6944PL3B3<br>LEI: 6354003EUPCHXTWUU869 | Long             | DBT              | CORP              | US        |   9750000 | PA      | $9761016.72   | 0.55%             | 2026-03-27      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| New York Life Global Funding                                | New York Life Global Funding                                                        | CUSIP: 64953BBL1<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $7029869.84   | 0.40%             | 2027-04-02      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| Citizens Auto Receivables Trust                             | Citizens Auto Receivables Trust, Series 2024-2, Class A3                            | CUSIP: 17331XAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6825398 | PA      | $6873217.63   | 0.39%             | 2028-08-15      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc.                                               | Enbridge Inc.                                                                       | CUSIP: 29250NCA1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   4666000 | PA      | $4729167.47   | 0.27%             | 2027-04-05      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Brighthouse Financial Global Funding                        | Brighthouse Financial Global Funding                                                | CUSIP: 10921U2J6<br>LEI: 549300BLFX3KJ2IFOA78 | Long             | DBT              | CORP              | US        |   8150000 | PA      | $8269641.27   | 0.47%             | 2027-04-09      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                                | Dell Equipment Finance Trust, Series 2024-1, Class A3                               | CUSIP: 24702GAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2697858 | PA      | $2717268.90   | 0.15%             | 2030-03-22      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| Chesapeake Funding II LLC                                   | Chesapeake Funding II LLC, Series 2024-1A, Class A2                                 | CUSIP: 165183DJ0<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |   1477700 | PA      | $1478381.16   | 0.08%             | 2036-05-15      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| Wheels Fleet Lease Funding 1 LLC                            | Wheels Fleet Lease Funding 1 LLC, Series 2024-1A, Class A2                          | CUSIP: 96328GBN6<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-O            | CORP              | US        |   3060349 | PA      | $3068889.28   | 0.17%             | 2039-02-18      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| Public Storage Operating Co.                                | Public Storage Operating Co.                                                        | CUSIP: 74464AAA9<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10029903.80  | 0.57%             | 2027-04-16      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| Athene Global Funding                                       | Athene Global Funding                                                               | CUSIP: 04685A3V1<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $12069953.28  | 0.68%             | 2026-05-08      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| National Rural Utilities Cooperative Finance Corp.          | National Rural Utilities Cooperative Finance Corp.                                  | CUSIP: 63743HFR8<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7613749.73   | 0.43%             | 2027-05-06      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Auto Lease Trust                              | Mercedes-Benz Auto Lease Trust, Series 2024-A, Class A2A                            | CUSIP: 58770JAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1885507 | PA      | $1888740.71   | 0.11%             | 2027-02-16      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| First National Master Note Trust                            | First National Master Note Trust, Series 2024-1, Class A                            | CUSIP: 32113CCB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3870000 | PA      | $3950138.80   | 0.22%             | 2030-05-15      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| USAA Capital Corp.                                          | USAA Capital Corp.                                                                  | CUSIP: 90327QD97<br>LEI: 5493007XLF4LU3U2W757 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10210833.40  | 0.58%             | 2027-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                            | Bank of Montreal                                                                    | CUSIP: 06368L3M6<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |  10000000 | PA      | $10054057.60  | 0.57%             | 2027-06-04      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| Daimler Truck Finance North America LLC                     | Daimler Truck Finance North America LLC                                             | CUSIP: 233853AY6<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |   5905000 | PA      | $6000898.85   | 0.34%             | 2027-09-25      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                                      | Home Depot, Inc. (The)                                                              | CUSIP: 437076CZ3<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |   4504000 | PA      | $4536008.17   | 0.26%             | 2026-06-25      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust                                       | HPEFS Equipment Trust, Series 2024-2A, Class A2                                     | CUSIP: 40444MAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    253331 | PA      | $253511.75    | 0.01%             | 2031-10-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Jackson National Life Global Funding                        | Jackson National Life Global Funding                                                | CUSIP: 46849LVA6<br>LEI: 635400PQXLYXWJI5QD78 | Long             | DBT              | CORP              | US        |   6719000 | PA      | $6863565.33   | 0.39%             | 2027-07-02      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| National Bank of Canada                                     | National Bank of Canada                                                             | CUSIP: 63307A2Z7<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | DBT              | CORP              | CA        |   5797000 | PA      | $5814060.22   | 0.33%             | 2027-07-02      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                              | Enterprise Fleet Financing LLC, Series 2024-3, Class A2                             | CUSIP: 29375QAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1851316 | PA      | $1860347.83   | 0.11%             | 2027-04-20      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| GreatAmerica Leasing Receivables Funding LLC                | GreatAmerica Leasing Receivables Funding LLC, Series 2024-2, Class A3               | CUSIP: 39154GAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $4057710.40   | 0.23%             | 2028-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                    | PNC Financial Services Group, Inc. (The)                                            | CUSIP: 693475BY0<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7542007.80   | 0.43%             | 2027-07-23      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| Sherwin-Williams Co. (The)                                  | Sherwin-Williams Co. (The)                                                          | CUSIP: 824348BS4<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |   4587000 | PA      | $4636359.10   | 0.26%             | 2028-03-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| BMW US Capital, LLC                                         | BMW US Capital, LLC                                                                 | CUSIP: 05565ECN3<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |  10811000 | PA      | $10843483.38  | 0.61%             | 2026-08-13      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Principal Life Global Funding II                            | Principal Life Global Funding II                                                    | CUSIP: 74256LFA2<br>LEI: 635400WSLKBQWSOIIT41 | Long             | DBT              | CORP              | US        |   4777000 | PA      | $4817973.05   | 0.27%             | 2027-08-19      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Porsche Innovative Lease Owner Trust                        | Porsche Innovative Lease Owner Trust, Series 2024-1A, Class A3                      | CUSIP: 73328AAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2509730.00   | 0.14%             | 2027-11-22      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| Wheels Fleet Lease Funding 1 LLC                            | Wheels Fleet Lease Funding 1 LLC, Series 2024-2A, Class A2                          | CUSIP: 96328GBU0<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-O            | CORP              | US        |   3182148 | PA      | $3203049.13   | 0.18%             | 2039-06-21      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| National Bank of Canada                                     | National Bank of Canada                                                             | CUSIP: 63305LN33<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | DBT              | CORP              | CA        |  10000000 | PA      | $10002368.10  | 0.56%             | 2026-08-20      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Lease Securitization Trust                     | Hyundai Auto Lease Securitization Trust, Series 2024-C, Class A2B                   | CUSIP: 448984AC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1867742 | PA      | $1869158.87   | 0.11%             | 2027-03-15      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank U.A.                                  | Cooperatieve Rabobank U.A.                                                          | CUSIP: 21688ABG6<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |   8035000 | PA      | $8056765.37   | 0.46%             | 2026-08-28      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| Athene Global Funding                                       | Athene Global Funding                                                               | CUSIP: 04685A4B4<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10042769.20  | 0.57%             | 2026-08-27      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| American Honda Finance Corp.                                | American Honda Finance Corp.                                                        | CUSIP: 02665WFN6<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15036357.15  | 0.85%             | 2026-10-05      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                          | Canadian Imperial Bank of Commerce                                                  | CUSIP: 13607PHU1<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |  10000000 | PA      | $10034156.60  | 0.57%             | 2027-09-11      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| National Rural Utilities Cooperative Finance Corp.          | National Rural Utilities Cooperative Finance Corp.                                  | CUSIP: 63743HFU1<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15079631.85  | 0.85%             | 2027-09-16      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| BMW Vehicle Lease Trust                                     | BMW Vehicle Lease Trust, Series 2024-2, Class A2A                                   | CUSIP: 05613MAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1592803 | PA      | $1593910.50   | 0.09%             | 2027-01-25      | Fixed         | 4.29%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                              | Enterprise Fleet Financing LLC, Series 2024-4, Class A2                             | CUSIP: 29374MAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3224541 | PA      | $3234968.99   | 0.18%             | 2027-07-20      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Bank, N.A.                                   | Morgan Stanley Bank, N.A.                                                           | CUSIP: 61690U8F0<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10022656.70  | 0.57%             | 2027-10-15      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| State Street Corp.                                          | State Street Corp.                                                                  | CUSIP: 857477CQ4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   2857000 | PA      | $2869843.04   | 0.16%             | 2027-10-22      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| U.S. Bank N.A.                                              | U.S. Bank N.A.                                                                      | CUSIP: 90331HPQ0<br>LEI: 6BYL5QZYBDK8S7L73M02 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10029789.70  | 0.57%             | 2027-10-22      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| CNO Global Funding                                          | CNO Global Funding                                                                  | CUSIP: 18977W2G4<br>LEI: 6354008GTNR4833ULD48 | Long             | DBT              | CORP              | US        |   4918000 | PA      | $4978298.37   | 0.28%             | 2027-12-10      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Corebridge Global Funding                                   | Corebridge Global Funding                                                           | CUSIP: 00138CBE7<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9999381.10   | 0.56%             | 2028-01-07      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                      | UBS AG                                                                              | CUSIP: 90261AAD4<br>LEI: 254900R882POXXVAK772 | Long             | DBT              | CORP              | CH        |   5608000 | PA      | $5655181.11   | 0.32%             | 2028-01-10      | Variable      | 4.86%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                           | Wells Fargo & Co.                                                                   | CUSIP: 95000U3S0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   7461000 | PA      | $7478540.06   | 0.42%             | 2028-01-24      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Fifth Third Bank, N.A.                                      | Fifth Third Bank, N.A.                                                              | CUSIP: 31677QBV0<br>LEI: QFROUN1UWUYU0DVIWD51 | Long             | DBT              | CORP              | US        |   5300000 | PA      | $5309687.02   | 0.30%             | 2028-01-28      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                 | Toronto-Dominion Bank (The)                                                         | CUSIP: 89115A3F7<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   8791000 | PA      | $8825063.89   | 0.50%             | 2028-01-31      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                       | NextEra Energy Capital Holdings, Inc.                                               | CUSIP: 65339KDH0<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   7330000 | PA      | $7382153.83   | 0.42%             | 2028-02-04      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Cargill, Inc.                                               | Cargill, Inc.                                                                       | CUSIP: 141781CC6<br>LEI: QXZYQNMR4JZ5RIRN4T31 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10016167.40  | 0.57%             | 2028-02-11      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                           | Barclays Bank PLC                                                                   | CUSIP: 06746AB93<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | CORP              | GB        |  12000000 | PA      | $11996891.16  | 0.68%             | 2026-08-14      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| Huntington National Bank (The)                              | Huntington National Bank (The)                                                      | CUSIP: 44644MAL5<br>LEI: 2WHM8VNJH63UN14OL754 | Long             | DBT              | CORP              | US        |   6897000 | PA      | $6895367.34   | 0.39%             | 2028-04-12      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo S.p.A.                                      | Intesa Sanpaolo S.p.A.                                                              | CUSIP: 46115LVS4<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |  10000000 | PA      | $10009400.00  | 0.57%             | 2026-07-17      | Floating      | 4.36%                 | No            |                  2 | On Loan: No      |
| Washington Morgan Capital Co. LLC                           | Washington Morgan Capital Co. LLC                                                   | CUSIP: 93930N3T4<br>LEI: 2549001B50UEKC5ND641 | Long             | ABS-APCP         | CORP              | US        |  10000000 | PA      | $10009977.40  | 0.57%             | 2026-07-17      | Floating      | 4.24%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                            | Deutsche Bank AG                                                                    | CUSIP: 25161DAP8<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10031730.00  | 0.57%             | 2026-08-03      | Fixed         | 4.44%                 | No            |                  2 | On Loan: No      |
| TELUS Corp.                                                 | TELUS Corp.                                                                         | CUSIP: 87974WAG3<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | CORP              | CA        |  10540000 | PA      | $10474630.92  | 0.59%             | 2026-01-16      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Bayer Corp.                                                 | Bayer Corp.                                                                         | CUSIP: 07273MH33<br>LEI: 54930050NR9YMICYZM28 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9726870.00   | 0.55%             | 2026-08-03      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| HSBC USA Inc.                                               | HSBC USA Inc.                                                                       | CUSIP: 40434RHT2<br>LEI: 549300LBOHZ4QSIWU288 | Long             | DBT              | CORP              | US        |  10500000 | PA      | $10186454.25  | 0.58%             | 2026-08-27      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TELUS Corp.                                                 | TELUS Corp.                                                                         | CUSIP: 87974WBQ0<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | CORP              | CA        |   8000000 | PA      | $7911736.00   | 0.45%             | 2026-02-24      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Washington Morgan Capital Co. LLC                           | Washington Morgan Capital Co. LLC                                                   | CUSIP: 93930N4A4<br>LEI: 2549001B50UEKC5ND641 | Long             | ABS-APCP         | CORP              | US        |  10000000 | PA      | $10009755.00  | 0.57%             | 2026-09-10      | Floating      | 4.32%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                | Oracle Corp.                                                                        | CUSIP: 6840C3AG8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $8950752.00   | 0.51%             | 2026-01-16      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| VW Credit Inc.                                              | VW Credit Inc.                                                                      | CUSIP: 91842KK13<br>LEI: 549300UUPJ2NXDB68M19 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $8696961.00   | 0.49%             | 2026-10-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TELUS Corp.                                                 | TELUS Corp.                                                                         | CUSIP: 87974WD96<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | CORP              | CA        |   3000000 | PA      | $2950278.00   | 0.17%             | 2026-04-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Washington Morgan Capital Co. LLC                           | Washington Morgan Capital Co. LLC                                                   | CUSIP: 93930MG96<br>LEI: 2549001B50UEKC5ND641 | Long             | ABS-APCP         | CORP              | US        |  10000000 | PA      | $9759830.00   | 0.55%             | 2026-07-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Natixis S.A.                                                | Natixis S.A.                                                                        | CUSIP: 63873TGQ5<br>LEI: 2549003L5ZG5M2ZSE107 | Long             | DBT              | CORP              | FR        |  10000000 | PA      | $10012663.20  | 0.57%             | 2027-10-18      | Floating      | 4.22%                 | No            |                  2 | On Loan: No      |
| BofA Securities, Inc.                                       | BofA Securities, Inc.                                                               | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |  20000000 | PA      | $20000000.00  | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Genuine Parts Co.                                           | Genuine Parts Co.                                                                   | CUSIP: 37255FZ45<br>LEI: 549300D46DQVEU651W04 | Long             | DBT              | CORP              | US        |  18000000 | PA      | $17987850.00  | 1.02%             | 2025-12-04      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Genuine Parts Co.                                           | Genuine Parts Co.                                                                   | CUSIP: 37255FZ29<br>LEI: 549300D46DQVEU651W04 | Long             | DBT              | CORP              | US        |   5150000 | PA      | $5147687.65   | 0.29%             | 2025-12-02      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Nomura Securities International, Inc.                       | Nomura Securities International, Inc.                                               | CUSIP: N/A<br>LEI: OXTKY6Q8X53C9ILVV871       | Long             | RA               | CORP              | US        |  20000000 | PA      | $20000000.00  | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Santander US Capital Markets LLC                            | Santander US Capital Markets LLC                                                    | CUSIP: N/A<br>LEI: 549300LGG2RLWD21SU97       | Long             | RA               | CORP              | US        |  20000000 | PA      | $20000000.00  | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Crown Castle Inc.                                           | Crown Castle Inc.                                                                   | CUSIP: 22823PZG1<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9977850.00   | 0.56%             | 2025-12-16      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| HA Sustainable Infrastructure Capital Inc.                  | HA Sustainable Infrastructure Capital Inc.                                          | CUSIP: 40460JZH3<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |   9800000 | PA      | $9776244.80   | 0.55%             | 2025-12-17      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Genuine Parts Co.                                           | Genuine Parts Co.                                                                   | CUSIP: 37255FZC7<br>LEI: 549300D46DQVEU651W04 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4992115.00   | 0.28%             | 2025-12-12      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Western Midstream Operating, L.P.                           | Western Midstream Operating, L.P.                                                   | CUSIP: 95866WZ47<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   8300000 | PA      | $8293775.00   | 0.47%             | 2025-12-04      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Alexandria Real Estate Equities Inc.                        | Alexandria Real Estate Equities Inc.                                                | CUSIP: 01527LZW8<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9963090.00   | 0.56%             | 2025-12-30      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| HA Sustainable Infrastructure Capital Inc.                  | HA Sustainable Infrastructure Capital Inc.                                          | CUSIP: 40460JZJ9<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3989748.00   | 0.23%             | 2025-12-18      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Air Lease Corp.                                             | Air Lease Corp.                                                                     | CUSIP: 00913WZB4<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |  10600000 | PA      | $10583538.20  | 0.60%             | 2025-12-11      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Brunswick Corp.                                             | Brunswick Corp.                                                                     | CUSIP: 11704MZ26<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9994990.00   | 0.56%             | 2025-12-02      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| AES Corp. (The)                                             | AES Corp. (The)                                                                     | CUSIP: 00809GZ18<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |   6400000 | PA      | $6397740.80   | 0.36%             | 2025-12-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Arrow Electronics, Inc.                                     | Arrow Electronics, Inc.                                                             | CUSIP: 04273LZ24<br>LEI: 549300YNNLBXT8N8R512 | Long             | DBT              | CORP              | US        |   9700000 | PA      | $9695402.20   | 0.55%             | 2025-12-02      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Chevron U.S.A. Inc.                                         | Chevron U.S.A. Inc.                                                                 | CUSIP: 166756BA3<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |   6465000 | PA      | $6478331.35   | 0.37%             | 2027-02-26      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                          | General Motors Financial Co., Inc.                                                  | CUSIP: 37045XFF8<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10003265.60  | 0.56%             | 2028-04-04      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| American Honda Finance Corp.                                | American Honda Finance Corp.                                                        | CUSIP: 02665WFW6<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10022674.10  | 0.57%             | 2028-03-03      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Synopsys, Inc.                                              | Synopsys, Inc.                                                                      | CUSIP: 871607AA5<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2517859.60   | 0.14%             | 2027-04-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| John Deere Capital Corp.                                    | John Deere Capital Corp.                                                            | CUSIP: 24422EYA1<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10014209.30  | 0.57%             | 2028-03-06      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| PayPal Holdings, Inc.                                       | PayPal Holdings, Inc.                                                               | CUSIP: 70450YAS2<br>LEI: 5493005X2GO78EFZ3E94 | Long             | DBT              | CORP              | US        |   4464000 | PA      | $4521729.52   | 0.26%             | 2028-03-06      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| John Deere Owner Trust                                      | John Deere Owner Trust, Series 2025-A, Class A2B                                    | CUSIP: 47800DAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4082755 | PA      | $4083193.23   | 0.23%             | 2028-03-15      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Receivables Trust                              | Hyundai Auto Receivables Trust, Series 2025-A, Class A2B                            | CUSIP: 44935CAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6521413 | PA      | $6524441.50   | 0.37%             | 2027-12-15      | Floating      | 4.48%                 | No            |                  2 | On Loan: No      |
| CCG Receivables Trust                                       | CCG Receivables Trust, Series 2025-1, Class A2                                      | CUSIP: 12515XAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4396932 | PA      | $4419347.44   | 0.25%             | 2032-10-14      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| GreatAmerica Leasing Receivables Funding LLC                | GreatAmerica Leasing Receivables Funding LLC, Series 2025-1, Class A2               | CUSIP: 39154GAH9<br>LEI: 549300JFP7GIDD4UWO79 | Long             | ABS-O            | CORP              | US        |   2600000 | PA      | $2608694.92   | 0.15%             | 2027-10-15      | Fixed         | 4.52%                 | No            |                  2 | On Loan: No      |
| Volvo Financial Equipment LLC                               | Volvo Financial Equipment LLC, Series 2025-1A, Class A2                             | CUSIP: 92887TAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3150000 | PA      | $3156284.25   | 0.18%             | 2027-11-15      | Fixed         | 4.41%                 | No            |                  2 | On Loan: No      |
| World Omni Automobile Lease Securitization Trust            | World Omni Automobile Lease Securitization Trust, Series 2025-A, Class A2B          | CUSIP: 98164PAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1501240 | PA      | $1502189.53   | 0.08%             | 2027-12-15      | Floating      | 4.53%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                      | Goldman Sachs Bank USA                                                              | CUSIP: 38151G2K6<br>LEI: KD3XUN7C6T14HNAYLU02 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10043335.80  | 0.57%             | 2027-03-07      | Variable      | 4.72%                 | No            |                  2 | On Loan: No      |
| Mars, Inc.                                                  | Mars, Inc.                                                                          | CUSIP: 571676AW5<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   5956000 | PA      | $5997590.99   | 0.34%             | 2027-03-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| GlaxoSmithKline Capital PLC                                 | GlaxoSmithKline Capital PLC                                                         | CUSIP: 377373AN5<br>LEI: 549300U0LV41VX7LEP38 | Long             | DBT              | CORP              | GB        |   6593000 | PA      | $6617809.66   | 0.37%             | 2027-03-12      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| Advanced Micro Devices, Inc.                                | Advanced Micro Devices, Inc.                                                        | CUSIP: 007903BH9<br>LEI: R2I72C950HOYXII45366 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10030889.00  | 0.57%             | 2026-09-24      | Fixed         | 4.21%                 | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                             | Nordea Bank Abp                                                                     | CUSIP: 65558RAL3<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |   5000000 | PA      | $5062465.05   | 0.29%             | 2028-03-17      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Nutrien Ltd.                                                | Nutrien Ltd.                                                                        | CUSIP: 67077MBE7<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |   5970000 | PA      | $6007905.86   | 0.34%             | 2027-03-12      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Wheels Fleet Lease Funding 1 LLC                            | Wheels Fleet Lease Funding 1 LLC, Series 2025-1A, Class A1                          | CUSIP: 96328GCE5<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-O            | CORP              | US        |   6750000 | PA      | $6799006.35   | 0.38%             | 2040-01-18      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| Rio Tinto Finance (USA) PLC                                 | Rio Tinto Finance (USA) PLC                                                         | CUSIP: 76720AAQ9<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |   1741000 | PA      | $1753791.58   | 0.10%             | 2027-03-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Aviation Capital Group LLC                                  | Aviation Capital Group LLC                                                          | CUSIP: 05369AAR2<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |   1936000 | PA      | $1945782.80   | 0.11%             | 2027-04-14      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Glencore Funding LLC                                        | Glencore Funding LLC                                                                | CUSIP: 378272BX5<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |   5357000 | PA      | $5363013.71   | 0.30%             | 2026-10-01      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Bank of New York Mellon (The)                               | Bank of New York Mellon (The)                                                       | CUSIP: 06405LAG6<br>LEI: HPFHU0OQ28E4N0NFVK49 | Long             | DBT              | CORP              | US        |   3311000 | PA      | $3316184.00   | 0.19%             | 2027-04-20      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                             | Goldman Sachs Group, Inc. (The)                                                     | CUSIP: 38141GC77<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   5129000 | PA      | $5186268.93   | 0.29%             | 2028-04-23      | Variable      | 4.94%                 | No            |                  2 | On Loan: No      |
| State Street Corp.                                          | State Street Corp.                                                                  | CUSIP: 857477DA8<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   1432000 | PA      | $1444180.48   | 0.08%             | 2028-04-24      | Variable      | 4.54%                 | No            |                  2 | On Loan: No      |
| New York Life Global Funding                                | New York Life Global Funding                                                        | CUSIP: 64953BBW7<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |   3695000 | PA      | $3741834.86   | 0.21%             | 2028-04-25      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                                | Dell Equipment Finance Trust, Series 2025-1, Class A3                               | CUSIP: 24703UAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2480000 | PA      | $2503949.86   | 0.14%             | 2031-02-24      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Lease Securitization Trust                     | Hyundai Auto Lease Securitization Trust, Series 2025-B, Class A3                    | CUSIP: 44935DAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3200000 | PA      | $3227885.44   | 0.18%             | 2028-04-17      | Fixed         | 4.53%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Receivables Owner Trust                         | Toyota Auto Receivables Owner Trust, Series 2025-B, Class A2A                       | CUSIP: 89231HAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6186059 | PA      | $6198655.27   | 0.35%             | 2028-03-15      | Fixed         | 4.46%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                                     | CarMax Auto Owner Trust, Series 2025-2, Class A2A                                   | CUSIP: 14320AAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3402475 | PA      | $3411616.28   | 0.19%             | 2028-07-17      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| Pacific Life Global Funding II                              | Pacific Life Global Funding II                                                      | CUSIP: 69448TAC5<br>LEI: 6354003EUPCHXTWUU869 | Long             | DBT              | CORP              | US        |   9434000 | PA      | $9550310.09   | 0.54%             | 2028-05-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                              | Citigroup Inc.                                                                      | CUSIP: 172967PZ8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10072571.20  | 0.57%             | 2028-05-07      | Variable      | 4.64%                 | No            |                  2 | On Loan: No      |
| PNC Bank, N.A.                                              | PNC Bank, N.A.                                                                      | CUSIP: 69353RFY9<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |   6977000 | PA      | $6987816.37   | 0.39%             | 2027-05-13      | Variable      | 4.54%                 | No            |                  2 | On Loan: No      |
| Pinnacle West Capital Corp.                                 | Pinnacle West Capital Corp.                                                         | CUSIP: 723484AM3<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | DBT              | CORP              | US        |    649000 | PA      | $660313.78    | 0.04%             | 2028-05-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| U.S. Bank N.A.                                              | U.S. Bank N.A.                                                                      | CUSIP: 90331HPT4<br>LEI: 6BYL5QZYBDK8S7L73M02 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10042883.70  | 0.57%             | 2028-05-15      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| M&T Equipment LLC                                           | M&T Equipment LLC, Series 2025-1A, Class A2                                         | CUSIP: 55340QAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $4025949.60   | 0.23%             | 2027-12-16      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| AutoNation Finance Trust                                    | AutoNation Finance Trust, Series 2025-1A, Class A2                                  | CUSIP: 05330QAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4627082 | PA      | $4637742.85   | 0.26%             | 2028-04-10      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| Svenska Handelsbanken AB                                    | Svenska Handelsbanken AB                                                            | CUSIP: 86959LAT0<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | DBT              | CORP              | SE        |   6522000 | PA      | $6550101.80   | 0.37%             | 2028-05-23      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank U.A.                                  | Cooperatieve Rabobank U.A.                                                          | CUSIP: 21688ABN1<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |   8571000 | PA      | $8596803.42   | 0.49%             | 2027-05-27      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| GM Financial Automobile Leasing Trust                       | GM Financial Automobile Leasing Trust, Series 2025-2, Class A2B                     | CUSIP: 362962AC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2447291 | PA      | $2450167.74   | 0.14%             | 2027-07-20      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| Harley-Davidson Motorcycle Trust                            | Harley-Davidson Motorcycle Trust, Series 2025-A, Class A2A                          | CUSIP: 41284XAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2242268 | PA      | $2248342.18   | 0.13%             | 2028-07-17      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| Westlake Automobile Receivables Trust                       | Westlake Automobile Receivables Trust, Series 2025-P1, Class A2                     | CUSIP: 96043LAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5300000 | PA      | $5313676.12   | 0.30%             | 2028-02-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Lincoln Financial Global Funding                            | Lincoln Financial Global Funding                                                    | CUSIP: 53359KAB7<br>LEI: 984500OC010458395923 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3031497.99   | 0.17%             | 2028-05-28      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                          | General Motors Financial Co., Inc.                                                  | CUSIP: 37045XFH4<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   3333000 | PA      | $3374473.59   | 0.19%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HSBC USA Inc.                                               | HSBC USA Inc.                                                                       | CUSIP: 40428HS29<br>LEI: 549300LBOHZ4QSIWU288 | Long             | DBT              | CORP              | US        |   6522000 | PA      | $6571357.71   | 0.37%             | 2028-06-03      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                 | Toronto-Dominion Bank (The)                                                         | CUSIP: 89115KAA8<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |  10000000 | PA      | $10051411.00  | 0.57%             | 2028-06-02      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| USAA Capital Corp.                                          | USAA Capital Corp.                                                                  | CUSIP: 90327QDA4<br>LEI: 5493007XLF4LU3U2W757 | Long             | DBT              | CORP              | US        |   3330000 | PA      | $3373108.75   | 0.19%             | 2028-06-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| John Deere Capital Corp.                                    | John Deere Capital Corp.                                                            | CUSIP: 24422EYB9<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10019102.00  | 0.57%             | 2027-01-05      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc.                                               | Enbridge Inc.                                                                       | CUSIP: 29250NCH6<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   2905000 | PA      | $2937739.87   | 0.17%             | 2028-06-20      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                     | Hyundai Capital America                                                             | CUSIP: 44891ADU8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8084828.56   | 0.46%             | 2027-06-23      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| American Honda Finance Corp.                                | American Honda Finance Corp.                                                        | CUSIP: 02665WGE5<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10046870.50  | 0.57%             | 2027-07-09      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Private Bank, N.A.                           | Morgan Stanley Private Bank, N.A.                                                   | CUSIP: 61776NVF7<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |   6969000 | PA      | $6985214.28   | 0.39%             | 2028-07-06      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| PNC Bank, N.A.                                              | PNC Bank, N.A.                                                                      | CUSIP: 69353RGA0<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |   2633000 | PA      | $2633502.14   | 0.15%             | 2028-07-21      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| Truist Bank                                                 | Truist Bank                                                                         | CUSIP: 89788JAG4<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |   9757000 | PA      | $9763850.68   | 0.55%             | 2028-07-24      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| Wheels Fleet Lease Funding 1 LLC                            | Wheels Fleet Lease Funding 1 LLC, Series 2025-2A, Class A1                          | CUSIP: 96328GCK1<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-O            | CORP              | US        |  10000000 | PA      | $10078019.00  | 0.57%             | 2040-05-18      | Fixed         | 4.41%                 | No            |                  2 | On Loan: No      |
| Daimler Truck Finance North America LLC                     | Daimler Truck Finance North America LLC                                             | CUSIP: 233853BG4<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |   4179000 | PA      | $4197291.52   | 0.24%             | 2027-08-12      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Jefferies Financial Group Inc.                              | Jefferies Financial Group Inc.                                                      | CUSIP: 47233WKM0<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |   8846000 | PA      | $8855368.98   | 0.50%             | 2026-08-11      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Roper Technologies, Inc.                                    | Roper Technologies, Inc.                                                            | CUSIP: 776696AK2<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |   1015000 | PA      | $1019944.77   | 0.06%             | 2028-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Principal Life Global Funding II                            | Principal Life Global Funding II                                                    | CUSIP: 7425APAD7<br>LEI: 635400WSLKBQWSOIIT41 | Long             | DBT              | CORP              | US        |   4348000 | PA      | $4374071.26   | 0.25%             | 2028-08-18      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Zions Bancorp., N.A.                                        | Zions Bancorp., N.A.                                                                | CUSIP: 98971DAD2<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | DBT              | CORP              | US        |  11618000 | PA      | $11609940.48  | 0.66%             | 2028-08-18      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| Caterpillar Financial Services Corp.                        | Caterpillar Financial Services Corp., Series K                                      | CUSIP: 14913UBB5<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |   8734000 | PA      | $8800543.47   | 0.50%             | 2028-08-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Zoetis Inc.                                                 | Zoetis Inc.                                                                         | CUSIP: 98978VAW3<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |   4808000 | PA      | $4840268.75   | 0.27%             | 2028-08-17      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Corebridge Global Funding                                   | Corebridge Global Funding                                                           | CUSIP: 00138CBG2<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |   3043000 | PA      | $3051783.07   | 0.17%             | 2028-08-21      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Northwestern Mutual Global Funding                          | Northwestern Mutual Global Funding                                                  | CUSIP: 66815L2Y4<br>LEI: 635400LZXFVELZDVP257 | Long             | DBT              | CORP              | US        |   6250000 | PA      | $6264085.50   | 0.35%             | 2028-08-25      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| Eli Lilly and Co.                                           | Eli Lilly and Co.                                                                   | CUSIP: 532457DB1<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |   3333000 | PA      | $3356160.52   | 0.19%             | 2028-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                                | Marriott International, Inc.                                                        | CUSIP: 571903BV4<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |   1709000 | PA      | $1714167.96   | 0.10%             | 2027-07-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| National Rural Utilities Cooperative Finance Corp.          | National Rural Utilities Cooperative Finance Corp., Series D                        | CUSIP: 63743HFZ0<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |   5128000 | PA      | $5158549.96   | 0.29%             | 2028-08-25      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Metropolitan Life Global Funding I                          | Metropolitan Life Global Funding I                                                  | CUSIP: 592179KR5<br>LEI: 635400MMSOCXNNNZDZ82 | Long             | DBT              | CORP              | US        |   2800000 | PA      | $2811154.36   | 0.16%             | 2028-08-25      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Trust Bank, Ltd.                            | Sumitomo Mitsui Trust Bank, Ltd.                                                    | CUSIP: 86563VCC1<br>LEI: 5493006GGLR4BTEL8O61 | Long             | DBT              | CORP              | JP        |   1541000 | PA      | $1544414.62   | 0.09%             | 2028-09-11      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| Volkswagen Group of America Finance, LLC                    | Volkswagen Group of America Finance, LLC                                            | CUSIP: 928668CV2<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4012179.80   | 0.23%             | 2027-09-11      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                          | Canadian Imperial Bank of Commerce                                                  | CUSIP: 13607QFD9<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |  10000000 | PA      | $10028497.30  | 0.57%             | 2028-09-08      | Variable      | 4.24%                 | No            |                  2 | On Loan: No      |
| F&G Global Funding                                          | F&G Global Funding                                                                  | CUSIP: 30321L2K7<br>LEI: 6354009CCUKJIZ7KFX73 | Long             | DBT              | CORP              | US        |   2139000 | PA      | $2146621.88   | 0.12%             | 2028-09-08      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Equitable America Global Funding                            | Equitable America Global Funding                                                    | CUSIP: 29446Q2C6<br>LEI: 98450066CCBIACF06694 | Long             | DBT              | CORP              | US        |   4474000 | PA      | $4469099.99   | 0.25%             | 2027-09-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Hewlett Packard Enterprise Co.                              | Hewlett Packard Enterprise Co.                                                      | CUSIP: 42824CCB3<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9992928.50   | 0.56%             | 2027-09-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                   | Bank of Nova Scotia (The)                                                           | CUSIP: 06418GAU1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |  10000000 | PA      | $9990887.30   | 0.56%             | 2028-09-15      | Variable      | 4.04%                 | No            |                  2 | On Loan: No      |
| Jefferies Financial Group Inc.                              | Jefferies Financial Group Inc.                                                      | CUSIP: 47233WKS7<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10006831.50  | 0.57%             | 2026-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MassMutual Global Funding II                                | MassMutual Global Funding II                                                        | CUSIP: 57629TBY2<br>LEI: 549300K1IE3K7YU6VG29 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10006616.00  | 0.57%             | 2028-08-01      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                              | Enterprise Fleet Financing LLC, Series 2025-4, Class A2                             | CUSIP: 29373NAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3600000 | PA      | $3606204.96   | 0.20%             | 2028-08-20      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Navistar Financial Dealer Note Master Owner Trust II 2025-1 | Navistar Financial Dealer Note Master Owner Trust II 2025-1, Series 2025-1, Class A | CUSIP: 63938PBZ1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2900000 | PA      | $2910928.36   | 0.16%             | 2030-09-25      | Fixed         | 4.18%                 | No            |                  2 | On Loan: No      |
| Barings Equipment Finance LLC 2025-B                        | Barings Equipment Finance LLC 2025-B, Series 2025-B, Class A2                       | CUSIP: 06764YAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3200000 | PA      | $3204678.72   | 0.18%             | 2029-02-13      | Fixed         | 4.02%                 | No            |                  2 | On Loan: No      |
| Wheels Fleet Lease Funding 1 LLC                            | Wheels Fleet Lease Funding 1 LLC, Series 2025-3A, Class A1                          | CUSIP: 96328GCP0<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-O            | CORP              | US        |   5350000 | PA      | $5351371.21   | 0.30%             | 2040-09-18      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc.                                               | Alphabet Inc.                                                                       | CUSIP: 02079KAU1<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |   3636000 | PA      | $3657561.73   | 0.21%             | 2028-11-15      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| eBay Inc.                                                   | eBay Inc.                                                                           | CUSIP: 278642BD4<br>LEI: OML71K8X303XQONU6T67 | Long             | DBT              | CORP              | US        |   3676000 | PA      | $3692476.68   | 0.21%             | 2029-03-06      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Novartis Capital Corp.                                      | Novartis Capital Corp.                                                              | CUSIP: 66989HAX6<br>LEI: 5493002KF87V5RSRQS84 | Long             | DBT              | CORP              | US        |   5465000 | PA      | $5488733.95   | 0.31%             | 2028-11-05      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.                                            | Amazon.com, Inc.                                                                    | CUSIP: 023135CS3<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |  13890000 | PA      | $13947027.48  | 0.79%             | 2028-11-20      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc.                                               | Enbridge Inc.                                                                       | CUSIP: 29250NCM5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   3846000 | PA      | $3856355.43   | 0.22%             | 2028-11-20      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Pfizer Inc.                                                 | Pfizer Inc.                                                                         | CUSIP: 717081FC2<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | DBT              | CORP              | US        |   2692000 | PA      | $2699426.64   | 0.15%             | 2027-11-15      | Floating      | 4.56%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-30

**Name of Applicant:** Invesco Management Trust

**Signature:** Adrien Deberghes

**Name of Signer:** Adrien Deberghes

**Title:** Principal Financial Officer and Treasurer