# EDGAR Filing Document

**Accession Number:** 0000896435
**File Stem:** 0000896435-25-000147
**Filing Date:** 2025-11
**Character Count:** 17115
**Document Hash:** 7f5bd90a732f14cf395d97618ca0d623
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000896435-25-000147.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0000896435-25-000147

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251128

**DATE AS OF CHANGE**: 20251128

**PERIOD START**: 20251231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07452
- **FILM NUMBER:** 251534814

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

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

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

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

## Series and Classes Contracts Data

### Invesco(R) V.I. S&P 500 Buffer Fund - March (Series ID: S000073048)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000229839 | Series I     |  |
| C000229840 | Series II    |  |

## Nport-Ex

**Schedule of Investments** 

*September 30, 2025*

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Money Market Funds–3.66%** | **Money Market Funds–3.66%** | **Money Market Funds–3.66%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class, <br> 4.05%<sup>(a)(b)</sup>  | 666409 | &nbsp;&nbsp; $666409 |
| &nbsp;&nbsp;&nbsp; Invesco Treasury Portfolio, Institutional <br> Class, 3.99%<sup>(a)(b)</sup>  | 1262468 | &nbsp;&nbsp; 1262468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Money Market Funds (Cost $1,928,877) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Money Market Funds (Cost $1,928,877) | &nbsp;&nbsp; 1928877 |

---

---

| | |
|:---|:---|
|  | **Value** |
| **Options Purchased–106.39%** | **Options Purchased–106.39%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $48,678,474)<sup>(c)</sup>  | &nbsp;&nbsp; $56112145 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES–110.05% <br> (Cost $50,607,351) | &nbsp;&nbsp; 58041022 |
| OTHER ASSETS LESS LIABILITIES—(10.05)% | &nbsp;&nbsp; (5302498)<br>|
| NET ASSETS–100.00% | &nbsp;&nbsp; $52738524 |

---

Notes to Schedule of Investments:

<sup>(a)</sup> Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended September 30, 2025. 

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**December 31, 2024**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**September 30, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money Market** <br> **Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class<br>| $239823 | &nbsp;&nbsp; $9091658 | &nbsp;&nbsp; $(8665072) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $666409 | &nbsp;&nbsp; $17222 |
| Invesco Treasury Portfolio, Institutional Class | &nbsp;&nbsp; 516386 | &nbsp;&nbsp; 16884508 | &nbsp;&nbsp; (16138426) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 1262468 | &nbsp;&nbsp; 32994 |
| Total | $756209 | &nbsp;&nbsp; $25976166 | &nbsp;&nbsp; $(24803498) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $1928877 | &nbsp;&nbsp; $50216 |

---

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

<sup>(b)</sup> The rate shown is the 7-day SEC standardized yield as of September 30, 2025. <br> <sup>(c)</sup> The table below details options purchased.

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Open Index Options Purchased** | **Open Index Options Purchased** | **Open Index Options Purchased** | **Open Index Options Purchased** | **Open Index Options Purchased** | **Open Index Options Purchased** | **Open Index Options Purchased** | **Open Index Options Purchased** | **Open Index Options Purchased** |
| **Description** | &nbsp;&nbsp; **Type of** <br>**Contract**<br>| **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Exercise** <br>**Price** | **Exercise** <br>**Price** | **Notional** <br>**Value**<sup>(a)</sup>  | **Notional** <br>**Value**<sup>(a)</sup>  | **Value** |
| **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** |  |  |  |  |  |
| S&P 500<sup>®</sup> Mini Index | Call | &nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp; 853 | &nbsp;&nbsp; USD | 16.84 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 1436452 | $55515900 |
| **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** |  |  |  |  |  |
| S&P 500<sup>®</sup> Mini Index | Put | &nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp; 853 | &nbsp;&nbsp; USD | 561.19 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 47869507 | 596245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Open Index Options Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Open Index Options Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Open Index Options Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Open Index Options Purchased |  |  |  |  | $56112145 |

---

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

<sup>(a)</sup> Notional Value is calculated by multiplying the Number of Contracts by the Exercise Price by the multiplier.<br>

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Open Index Options Written** | **Open Index Options Written** | **Open Index Options Written** | **Open Index Options Written** | **Open Index Options Written** | **Open Index Options Written** | **Open Index Options Written** | **Open Index Options Written** | **Open Index Options Written** |
| **Description** | &nbsp;&nbsp; **Type of** <br>**Contract**<br>| **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Exercise** <br>**Price** | **Exercise** <br>**Price** | **Notional** <br>**Value**<sup>(a)</sup>  | **Notional** <br>**Value**<sup>(a)</sup>  | **Value** |
| **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** |
| S&P 500<sup>®</sup> Mini Index | Call | &nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp; 853 | &nbsp;&nbsp; USD | 639.20 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 54523760 | &nbsp;&nbsp; $(4894805)<br>|
| **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** |
| S&P 500<sup>®</sup> Mini Index | Put | &nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp; 853 | &nbsp;&nbsp; USD | 505.07 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 43082471 | &nbsp;&nbsp; (326568)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Open Index Options Written | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Open Index Options Written | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Open Index Options Written | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Open Index Options Written | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Open Index Options Written |  |  |  | &nbsp;&nbsp; $(5221373)<br>|

---

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

<sup>(a)</sup> Notional Value is calculated by multiplying the Number of Contracts by the Exercise Price by the multiplier.<br>

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

Abbreviations: <br> USD —U.S. Dollar

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

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

**Invesco**<sup>®</sup> **V.I. S&P 500 Buffer Fund - March**

------

**Notes to Quarterly Schedule of Portfolio Holdings**

*September 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.

The following is a summary of the tiered valuation input levels, as of September 30, 2025. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| <br>**Investments in Securities** |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp; $1928877 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1928877 |
| Options Purchased | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 56112145 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 56112145 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp;&nbsp; 1928877 | &nbsp;&nbsp;&nbsp;&nbsp; 56112145 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 58041022 |
| **Other Investments - Liabilities\*** |  |  |  |  |
| Options Written | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (5221373)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (5221373)<br>|
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $1928877 | &nbsp;&nbsp;&nbsp;&nbsp; $50890772 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $52819649 |

---

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

\* Options written are shown at value.

**Invesco**<sup>®</sup> **V.I. S&P 500 Buffer Fund - March**

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Houston

  - **State:** TX

  - **Foreign country:** US

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

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

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

- **a. Name of Series:** Invesco V.I. S&P 500 Buffer Fund - March

- **b. EDGAR series identifier (if any):** S000073048

- **c. LEI of Series:** 549300QKVZ6Z2YD3UW65

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $55484083.88

**Total Liabilities:** $2736772.37

**Net Assets:** $52747311.51

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000229840 | 1.20%                | 0.93%                | 1.09%                |
| Class ID C000229839 | 1.28%                | 0.93%                | 1.17%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $0.00                                      |
| Month 2  | $0.00                    | $0.00                                      |
| Month 3  | $0.00                    | $0.00                                      |

**Designated Index Information**

- **Index Name:** S&P 500 Index

- **Index Identifier:** 100% SP-500

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Invesco Treasury Portfolio            | Invesco Treasury Portfolio, Institutional Class            | CUSIP: 825252406<br>LEI: 5493004B3TM8ZIDDDC39 | Long             | STIV             | RF                | US        |   1262468 | NS      | $1262467.82   | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | S&P 500 Mini Index Option                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |      -853 | NC      | $-4894804.70  | -9.28%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | S&P 500 Mini Index Option                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |       853 | NC      | $596245.29    | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Invesco Government & Agency Portfolio | Invesco Government & Agency Portfolio, Institutional Class | CUSIP: 825252885<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |    666410 | NS      | $666409.50    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | S&P 500 Mini Index Option                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |      -853 | NC      | $-326568.66   | -0.62%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | S&P 500 Mini Index Option                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |       853 | NC      | $55515899.48  | 105.25%           |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

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

**Signature:** Adrien Deberghes

**Name of Signer:** Adrien Deberghes

**Title:** Principal Financial Officer and Treasurer