# EDGAR Filing Document

**Accession Number:** 0000896435
**File Stem:** 0000896435-26-000341
**Filing Date:** 2026-5
**Character Count:** 42863
**Document Hash:** d45eec3389407db21c0b0e081807aa29
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000896435-26-000341.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0000896435-26-000341

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20261231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07452
- **FILM NUMBER:** 261028491

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

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

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

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

## Series and Classes Contracts Data

### Invesco V.I. Discovery Large Cap Fund (Series ID: S000064654)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000209355 | Series II    |  |
| C000209356 | Series I     |  |

## Nport-Ex

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

*March 31, 2026*

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests–98.44%** | **Common Stocks & Other Equity Interests–98.44%** | **Common Stocks & Other Equity Interests–98.44%** |
| **Aerospace & Defense–4.57%** | **Aerospace & Defense–4.57%** | **Aerospace & Defense–4.57%** |
| General Electric Co. | 22341 | &nbsp;&nbsp; $6339706 |
| Howmet Aerospace, Inc. | 35759 | &nbsp;&nbsp; 8241019 |
| L3Harris Technologies, Inc. | 11775 | &nbsp;&nbsp; 4064141 |
|  |  | &nbsp;&nbsp; 18644866 |
| **Apparel Retail–1.46%** | **Apparel Retail–1.46%** | **Apparel Retail–1.46%** |
| TJX Cos., Inc. (The) | 37209 | &nbsp;&nbsp; 5942277 |
| **Application Software–0.94%** | **Application Software–0.94%** | **Application Software–0.94%** |
| AppLovin Corp., Class A<sup>(b)</sup>  | 4955 | &nbsp;&nbsp; 1972090 |
| Palantir Technologies, Inc., Class A<sup>(b)</sup>  | 12621 | &nbsp;&nbsp; 1846200 |
|  |  | &nbsp;&nbsp; 3818290 |
| **Automobile Manufacturers–1.54%** | **Automobile Manufacturers–1.54%** | **Automobile Manufacturers–1.54%** |
| Tesla, Inc.<sup>(b)(c)</sup>  | 16900 | &nbsp;&nbsp; 6282575 |
| **Biotechnology–1.77%** | **Biotechnology–1.77%** | **Biotechnology–1.77%** |
| AbbVie, Inc. | 14426 | &nbsp;&nbsp; 3137511 |
| argenx SE, ADR (Netherlands)<sup>(b)</sup>  | 2647 | &nbsp;&nbsp; 1932972 |
| Gilead Sciences, Inc. | 15396 | &nbsp;&nbsp; 2145740 |
|  |  | &nbsp;&nbsp; 7216223 |
| **Broadline Retail–4.76%** | **Broadline Retail–4.76%** | **Broadline Retail–4.76%** |
| Amazon.com, Inc.<sup>(b)</sup>  | 93298 | &nbsp;&nbsp; 19431174 |
| **Cargo Ground Transportation–0.74%** | **Cargo Ground Transportation–0.74%** | **Cargo Ground Transportation–0.74%** |
| XPO, Inc.<sup>(b)</sup>  | 15575 | &nbsp;&nbsp; 3030116 |
| **Coal & Consumable Fuels–1.45%** | **Coal & Consumable Fuels–1.45%** | **Coal & Consumable Fuels–1.45%** |
| Cameco Corp. (Canada)<sup>(c)</sup>  | 54335 | &nbsp;&nbsp; 5901324 |
| **Communications Equipment–0.87%** | **Communications Equipment–0.87%** | **Communications Equipment–0.87%** |
| Arista Networks, Inc.<sup>(b)</sup>  | 28777 | &nbsp;&nbsp; 3533240 |
| **Construction & Engineering–2.49%** | **Construction & Engineering–2.49%** | **Construction & Engineering–2.49%** |
| Quanta Services, Inc. | 18469 | &nbsp;&nbsp; 10139850 |
| **Construction Machinery & Heavy Transportation Equipment–**<br> **2.25%** | **Construction Machinery & Heavy Transportation Equipment–**<br> **2.25%** | **Construction Machinery & Heavy Transportation Equipment–**<br> **2.25%** |
| Caterpillar, Inc. | 8663 | &nbsp;&nbsp; 6137389 |
| PACCAR, Inc. | 26480 | &nbsp;&nbsp; 3058440 |
|  |  | &nbsp;&nbsp; 9195829 |
| **Consumer Finance–1.06%** | **Consumer Finance–1.06%** | **Consumer Finance–1.06%** |
| American Express Co. | 14284 | &nbsp;&nbsp; 4320624 |
| **Consumer Staples Merchandise Retail–1.58%** | **Consumer Staples Merchandise Retail–1.58%** | **Consumer Staples Merchandise Retail–1.58%** |
| Walmart, Inc. | 51899 | &nbsp;&nbsp; 6450008 |
| **Copper–1.07%** | **Copper–1.07%** | **Copper–1.07%** |
| Freeport-McMoRan, Inc. | 74107 | &nbsp;&nbsp; 4356009 |
| **Electrical Components & Equipment–2.32%** | **Electrical Components & Equipment–2.32%** | **Electrical Components & Equipment–2.32%** |
| Vertiv Holdings Co., Class A | 37843 | &nbsp;&nbsp; 9482699 |
| **Electronic Components–2.48%** | **Electronic Components–2.48%** | **Electronic Components–2.48%** |
| Amphenol Corp., Class A | 47930 | &nbsp;&nbsp; 6055955 |
| Coherent Corp.<sup>(b)</sup>  | 17033 | &nbsp;&nbsp; 4057431 |
|  |  | &nbsp;&nbsp; 10113386 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Health Care Distributors–1.98%** | **Health Care Distributors–1.98%** | **Health Care Distributors–1.98%** |
| Cardinal Health, Inc. | 9665 | &nbsp;&nbsp; $2042311 |
| Cencora, Inc. | 12578 | &nbsp;&nbsp; 3951253 |
| McKesson Corp. | 2413 | &nbsp;&nbsp; 2088114 |
|  |  | &nbsp;&nbsp; 8081678 |
| **Health Care Facilities–0.51%** | **Health Care Facilities–0.51%** | **Health Care Facilities–0.51%** |
| HCA Healthcare, Inc. | 4399 | &nbsp;&nbsp; 2081783 |
| **Health Care REITs–0.74%** | **Health Care REITs–0.74%** | **Health Care REITs–0.74%** |
| Welltower, Inc.<sup>(c)</sup>  | 15261 | &nbsp;&nbsp; 3017252 |
| **Heavy Electrical Equipment–2.00%** | **Heavy Electrical Equipment–2.00%** | **Heavy Electrical Equipment–2.00%** |
| GE Vernova, Inc. | 9365 | &nbsp;&nbsp; 8174709 |
| **Hotels, Resorts & Cruise Lines–2.46%** | **Hotels, Resorts & Cruise Lines–2.46%** | **Hotels, Resorts & Cruise Lines–2.46%** |
| Hilton Worldwide Holdings, Inc. | 26020 | &nbsp;&nbsp; 7912161 |
| Viking Holdings Ltd.<sup>(b)</sup>  | 28791 | &nbsp;&nbsp; 2115563 |
|  |  | &nbsp;&nbsp; 10027724 |
| **Industrial Machinery & Supplies & Components–1.32%** | **Industrial Machinery & Supplies & Components–1.32%** | **Industrial Machinery & Supplies & Components–1.32%** |
| Parker-Hannifin Corp. | 6023 | &nbsp;&nbsp; 5392031 |
| **Interactive Media & Services–9.26%** | **Interactive Media & Services–9.26%** | **Interactive Media & Services–9.26%** |
| Alphabet, Inc., Class C | 85327 | &nbsp;&nbsp; 24476903 |
| Meta Platforms, Inc., Class A | 23198 | &nbsp;&nbsp; 13272272 |
|  |  | &nbsp;&nbsp; 37749175 |
| **Internet Services & Infrastructure–2.06%** | **Internet Services & Infrastructure–2.06%** | **Internet Services & Infrastructure–2.06%** |
| Cloudflare, Inc., Class A<sup>(b)</sup>  | 22812 | &nbsp;&nbsp; 4707028 |
| Snowflake, Inc., Class A<sup>(b)(c)</sup>  | 24364 | &nbsp;&nbsp; 3674579 |
|  |  | &nbsp;&nbsp; 8381607 |
| **Investment Banking & Brokerage–1.85%** | **Investment Banking & Brokerage–1.85%** | **Investment Banking & Brokerage–1.85%** |
| Goldman Sachs Group, Inc. (The) | 8906 | &nbsp;&nbsp; 7534387 |
| **Life Sciences Tools & Services–0.45%** | **Life Sciences Tools & Services–0.45%** | **Life Sciences Tools & Services–0.45%** |
| Thermo Fisher Scientific, Inc. | 3703 | &nbsp;&nbsp; 1820136 |
| **Movies & Entertainment–2.64%** | **Movies & Entertainment–2.64%** | **Movies & Entertainment–2.64%** |
| Netflix, Inc.<sup>(b)</sup>  | 111931 | &nbsp;&nbsp; 10762166 |
| **Oil & Gas Equipment & Services–0.80%** | **Oil & Gas Equipment & Services–0.80%** | **Oil & Gas Equipment & Services–0.80%** |
| Baker Hughes Co., Class A | 53219 | &nbsp;&nbsp; 3249020 |
| **Oil & Gas Exploration & Production–0.81%** | **Oil & Gas Exploration & Production–0.81%** | **Oil & Gas Exploration & Production–0.81%** |
| Diamondback Energy, Inc. | 16687 | &nbsp;&nbsp; 3300522 |
| **Pharmaceuticals–1.86%** | **Pharmaceuticals–1.86%** | **Pharmaceuticals–1.86%** |
| Eli Lilly and Co. | 8242 | &nbsp;&nbsp; 7580744 |
| **Real Estate Services–0.74%** | **Real Estate Services–0.74%** | **Real Estate Services–0.74%** |
| CBRE Group, Inc., Class A<sup>(b)</sup>  | 22417 | &nbsp;&nbsp; 3036607 |
| **Semiconductor Materials & Equipment–3.98%** | **Semiconductor Materials & Equipment–3.98%** | **Semiconductor Materials & Equipment–3.98%** |
| &nbsp;&nbsp;&nbsp; ASML Holding N.V., New York Shares <br> (Netherlands) | 4302 | &nbsp;&nbsp; 5682210 |
| Lam Research Corp. | 49442 | &nbsp;&nbsp; 10563778 |
|  |  | &nbsp;&nbsp; 16245988 |

---

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

**Invesco V.I. Discovery Large Cap Fund**

------

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Semiconductors–22.22%** | **Semiconductors–22.22%** | **Semiconductors–22.22%** |
| Broadcom, Inc. | 53950 | &nbsp;&nbsp; $16698065 |
| Micron Technology, Inc. | 8789 | &nbsp;&nbsp; 2969276 |
| Monolithic Power Systems, Inc. | 6423 | &nbsp;&nbsp; 7022587 |
| NVIDIA Corp. | 288878 | &nbsp;&nbsp; 50380323 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. <br> Ltd., ADR (Taiwan) | 40154 | &nbsp;&nbsp; 13570044 |
|  |  | &nbsp;&nbsp; 90640295 |
| **Systems Software–4.73%** | **Systems Software–4.73%** | **Systems Software–4.73%** |
| Microsoft Corp. | 52077 | &nbsp;&nbsp; 19277343 |
| **Technology Hardware, Storage & Peripherals–5.57%** | **Technology Hardware, Storage & Peripherals–5.57%** | **Technology Hardware, Storage & Peripherals–5.57%** |
| Apple, Inc. | 89583 | &nbsp;&nbsp; 22735270 |
| **Transaction & Payment Processing Services–1.11%** | **Transaction & Payment Processing Services–1.11%** | **Transaction & Payment Processing Services–1.11%** |
| Mastercard, Inc., Class A | 9049 | &nbsp;&nbsp; 4521423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br> (Cost $199,918,917) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br> (Cost $199,918,917) | &nbsp;&nbsp; 401468350 |
| **Money Market Funds–1.27%** | **Money Market Funds–1.27%** | **Money Market Funds–1.27%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.58%<sup>(d)(e)</sup>  | 1817752 | &nbsp;&nbsp; 1817752 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares** | **Shares** | **Value** |
| **Money Market Funds–(continued)** | **Money Market Funds–(continued)** | **Money Market Funds–(continued)** | **Money Market Funds–(continued)** |
| &nbsp;&nbsp;&nbsp; Invesco Treasury Portfolio, Institutional Class, <br> 3.56%<sup>(d)(e)</sup>  | &nbsp;&nbsp;&nbsp; Invesco Treasury Portfolio, Institutional Class, <br> 3.56%<sup>(d)(e)</sup>  | 3375825 | &nbsp;&nbsp; $3375825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Money Market Funds (Cost $5,193,577) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Money Market Funds (Cost $5,193,577) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Money Market Funds (Cost $5,193,577) | &nbsp;&nbsp; 5193577 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br> (excluding investments purchased with <br> cash collateral from securities on <br> loan)-99.71% (Cost $205,112,494)<br>|  |  | &nbsp;&nbsp; 406661927 |
| **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** |
| **Money Market Funds–1.76%** | **Money Market Funds–1.76%** | **Money Market Funds–1.76%** | **Money Market Funds–1.76%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 3.63%<sup>(d)(e)(f)</sup>  | &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 3.63%<sup>(d)(e)(f)</sup>  | 1991349 | &nbsp;&nbsp; 1991349 |
| Invesco Private Prime Fund, 3.80%<sup>(d)(e)(f)</sup>  | Invesco Private Prime Fund, 3.80%<sup>(d)(e)(f)</sup>  | 5166750 | &nbsp;&nbsp; 5167266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $7,158,615) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $7,158,615) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $7,158,615) | &nbsp;&nbsp; 7158615 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES–101.47% <br> (Cost $212,271,109) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES–101.47% <br> (Cost $212,271,109) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES–101.47% <br> (Cost $212,271,109) | &nbsp;&nbsp; 413820542 |
| OTHER ASSETS LESS LIABILITIES—(1.47)% | OTHER ASSETS LESS LIABILITIES—(1.47)% | OTHER ASSETS LESS LIABILITIES—(1.47)% | &nbsp;&nbsp; (5992016)<br>|
| NET ASSETS–100.00% | NET ASSETS–100.00% | NET ASSETS–100.00% | &nbsp;&nbsp; $407828526 |

---

Investment Abbreviations:

ADR – American Depositary Receipt <br> REIT – Real Estate Investment Trust

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> Non-income producing security.

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

<sup>(d)</sup> Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the three months ended March 31, 2026. 

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**December 31, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**March 31, 2026**<br>| **Dividend Income** |
| **Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class<br>| $1629938 | &nbsp;&nbsp; $14648474 | &nbsp;&nbsp; $(14460660) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $1817752 | &nbsp;&nbsp; $19065 |
| Invesco Treasury Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp; 3027029 | &nbsp;&nbsp;&nbsp; 27204308 | &nbsp;&nbsp;&nbsp; (26855512) | &nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 3375825 | &nbsp;&nbsp;&nbsp;&nbsp; 35127 |
| **Investments Purchased with Cash Collateral** <br> **from Securities on Loan:**<br>|  |  |  |  |  |  |  |
| Invesco Private Government Fund | &nbsp;&nbsp;&nbsp; 3528670 | &nbsp;&nbsp;&nbsp; 74105570 | &nbsp;&nbsp;&nbsp; (75642891) | &nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 1991349 | &nbsp;&nbsp;&nbsp; 41,398\* |
| Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 9190145 | &nbsp;&nbsp; 124991602 | &nbsp;&nbsp; (129012038) | &nbsp;&nbsp; - | &nbsp;&nbsp; (2443) | &nbsp;&nbsp;&nbsp; 5167266 | &nbsp;&nbsp; 107,420\* |
| Total | $17375782 | &nbsp;&nbsp; $240949954 | &nbsp;&nbsp; $(245971101) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $(2443) | &nbsp;&nbsp; $12352192 | &nbsp;&nbsp; $203010 |

---

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

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

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

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of March 31, 2026. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

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

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

**Invesco V.I. Discovery Large Cap Fund**

------

**Notes to Quarterly Schedule of Portfolio Holdings**

*March 31, 2026*

*(Unaudited)*

**NOTE 1—Additional Valuation Information**

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

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

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

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

The following is a summary of the tiered valuation input levels, as of March 31, 2026. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| <br>**Investments in Securities** |  |  |  |  |
| Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;&nbsp; $401468350 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $401468350 |
| Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp; 5193577 | &nbsp;&nbsp;&nbsp;&nbsp; 7158615 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12352192 |
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $406661927 | &nbsp;&nbsp;&nbsp;&nbsp; $7158615 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $413820542 |

---

**Invesco V.I. Discovery Large Cap Fund**

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Houston

  - **State:** TX

  - **Foreign country:** US

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

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

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

- **a. Name of Series:** Invesco V.I. Discovery Large Cap Fund

- **b. EDGAR series identifier (if any):** S000064654

- **c. LEI of Series:** 549300DPQWZVB5YV8X45

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $415557807.28

**Total Liabilities:** $7507873.16

**Net Assets:** $408049934.12

**Cash Not Reported:** $2000000.01

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000209355 | 0.37%                | -2.41%               | -5.83%               |
| Class ID C000209356 | 0.39%                | -2.38%               | -5.81%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $20206171.78             | $-18161222.98                              |
| Month 2  | $7295552.48              | $-18230960.09                              |
| Month 3  | $10951936.21             | $-36808981.18                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| General Electric Co.                        | General Electric Co.                                       | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |     22341 | NS      | $6339705.57   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| XPO, Inc.                                   | XPO, Inc.                                                  | CUSIP: 983793100<br>LEI: 54930096DB9LCLPN7H13 | Long             | EC               | CORP              | US        |     15575 | NS      | $3030116.25   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| L3Harris Technologies, Inc.                 | L3Harris Technologies, Inc.                                | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |     11775 | NS      | $4064141.25   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Cloudflare, Inc.                            | Cloudflare, Inc., Class A                                  | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |     22812 | NS      | $4707028.08   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly and Co.                           | Eli Lilly and Co.                                          | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      8242 | NS      | $7580744.34   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc.               | Thermo Fisher Scientific Inc.                              | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      3703 | NS      | $1820135.59   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co.                        | American Express Co.                                       | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |     14284 | NS      | $4320624.32   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                               | Netflix, Inc.                                              | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |    111931 | NS      | $10762165.65  | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Treasury Portfolio                  | Invesco Treasury Portfolio, Institutional Class            | CUSIP: 825252406<br>LEI: 5493004B3TM8ZIDDDC39 | Long             | STIV             | RF                | US        |   3375825 | NS      | $3375824.74   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare, Inc.                        | HCA Healthcare, Inc.                                       | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |      4399 | NS      | $2081782.76   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corp.                                | Cameco Corp.                                               | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |     54335 | NS      | $5901324.35   | 1.45%             |  |  |  | No            |                  1 | On Loan: —       |
| Tesla, Inc.                                 | Tesla, Inc.                                                | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |     16900 | NS      | $6282575.00   | 1.54%             |  |  |  | No            |                  1 | On Loan: —       |
| CBRE Group, Inc.                            | CBRE Group, Inc., Class A                                  | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |     22417 | NS      | $3036606.82   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora, Inc.                               | Cencora, Inc.                                              | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |     12578 | NS      | $3951252.92   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Viking Holdings Ltd.                        | Viking Holdings Ltd.                                       | CUSIP: G93A5A101<br>LEI: 52990032GOPN7BVQMN13 | Long             | EC               | CORP              | BM        |     28791 | NS      | $2115562.68   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp.                              | AppLovin Corp., Class A                                    | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      4955 | NS      | $1972090.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences, Inc.                       | Gilead Sciences, Inc.                                      | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     15396 | NS      | $2145740.52   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy, Inc.                    | Diamondback Energy, Inc.                                   | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |     16687 | NS      | $3300521.73   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings Inc.              | Hilton Worldwide Holdings Inc.                             | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |     26020 | NS      | $7912161.60   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                            | Amazon.com, Inc.                                           | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     93298 | NS      | $19431174.46  | 4.76%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc.                                 | AbbVie Inc.                                                | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     14426 | NS      | $3137510.74   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR Inc.                                 | PACCAR Inc.                                                | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |     26480 | NS      | $3058440.00   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| TJX Cos., Inc. (The)                        | TJX Cos., Inc. (The)                                       | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |     37209 | NS      | $5942277.30   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems, Inc.              | Monolithic Power Systems, Inc.                             | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |      6423 | NS      | $7022587.05   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co.                         | Vertiv Holdings Co., Class A                               | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |     37843 | NS      | $9482698.94   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp.                              | Coherent Corp.                                             | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |     17033 | NS      | $4057430.93   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc.                               | Broadcom Inc.                                              | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     53950 | NS      | $16698064.50  | 4.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp.                          | Lam Research Corp.                                         | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     49442 | NS      | $10563777.72  | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services, Inc.                       | Quanta Services, Inc.                                      | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |     18469 | NS      | $10139850.38  | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co.                            | Baker Hughes Co., Class A                                  | CUSIP: 05722G100<br>LEI: 549300XU3XH6F05YEQ93 | Long             | EC               | CORP              | US        |     53219 | NS      | $3249019.95   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)             | Goldman Sachs Group, Inc. (The)                            | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      8906 | NS      | $7534386.94   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                               | Alphabet Inc., Class C                                     | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     85327 | NS      | $24476903.22  | 6.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc.                                | Walmart Inc.                                               | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     51899 | NS      | $6450007.72   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                                | NVIDIA Corp.                                               | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    288878 | NS      | $50380323.20  | 12.35%            |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks, Inc.                       | Arista Networks, Inc.                                      | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |     28777 | NS      | $3533240.06   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc.                       | Freeport-McMoRan Inc.                                      | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     74107 | NS      | $4356009.46   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Snowflake Inc.                              | Snowflake Inc., Class A                                    | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |     24364 | NS      | $3674578.48   | 0.90%             |  |  |  | No            |                  1 | On Loan: —       |
| Meta Platforms, Inc.                        | Meta Platforms, Inc., Class A                              | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     23198 | NS      | $13272271.74  | 3.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Parker-Hannifin Corp.                       | Parker-Hannifin Corp.                                      | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |      6023 | NS      | $5392030.52   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Private Prime Fund                  | Invesco Private Prime Fund                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   5166750 | NS      | $5167266.67   | 1.27%             |  |  |  | No            |                  2 | On Loan: No      |
| McKesson Corp.                              | McKesson Corp.                                             | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      2413 | NS      | $2088113.68   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc.                  | Palantir Technologies Inc., Class A                        | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |     12621 | NS      | $1846199.88   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc.                       | Howmet Aerospace Inc.                                      | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |     35759 | NS      | $8241019.14   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health, Inc.                       | Cardinal Health, Inc.                                      | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |      9665 | NS      | $2042311.15   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                                  | Apple Inc.                                                 | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     89583 | NS      | $22735269.57  | 5.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp.                              | Amphenol Corp., Class A                                    | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     47930 | NS      | $6055955.50   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc.                             | Mastercard Inc., Class A                                   | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      9049 | NS      | $4521423.34   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Government & Agency Portfolio       | Invesco Government & Agency Portfolio, Institutional Class | CUSIP: 825252885<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |   1817752 | NS      | $1817751.76   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc.                              | Welltower Inc.                                             | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |     15261 | NS      | $3017252.31   | 0.74%             |  |  |  | No            |                  1 | On Loan: —       |
| Invesco Private Government Fund             | Invesco Private Government Fund                            | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   1991349 | NS      | $1991348.77   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Microsoft Corp.                             | Microsoft Corp.                                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     52077 | NS      | $19277343.09  | 4.72%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc.                             | GE Vernova Inc.                                            | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |      9365 | NS      | $8174708.50   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding N.V.                           | ASML Holding N.V., New York Shares                         | CUSIP: N07059210<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |      4302 | NS      | $5682210.66   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co. Ltd. | Taiwan Semiconductor Manufacturing Co. Ltd., ADR           | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     40154 | NS      | $13570044.30  | 3.33%             |  |  |  | No            |                  1 | On Loan: No      |
| argenx SE                                   | argenx SE, ADR                                             | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |      2647 | NS      | $1932971.75   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc.                            | Caterpillar Inc.                                           | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      8663 | NS      | $6137388.98   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology, Inc.                     | Micron Technology, Inc.                                    | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      7357 | NS      | $2485488.88   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** Adrien Deberghes

**Name of Signer:** Adrien Deberghes

**Title:** Principal Financial Officer and Treasurer