# EDGAR Filing Document

**Accession Number:** 0000842790
**File Stem:** 0001193125-26-210113
**Filing Date:** 2026-5
**Character Count:** 1721666
**Document Hash:** b23a85b95b7e4d94ef82e4febb573578
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-210113.hdr.sgml**: 20260507

**ACCESSION NUMBER**: 0001193125-26-210113

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 112

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260507

**DATE AS OF CHANGE**: 20260507

**EFFECTIVENESS DATE**: 20260507

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS)
- **CENTRAL INDEX KEY:** 0000842790

**ORGANIZATION NAME:**
- **EIN:** 760343427
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05686
- **FILM NUMBER:** 26950581

**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 INVESTMENT SECURITIES FUNDS
- **DATE OF NAME CHANGE:** 20000921

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIM INVESTMENT SECURITIES FUNDS INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIM PRIME RATE PREMIUM INCOME FUND INC
- **DATE OF NAME CHANGE:** 19910320

## Series and Classes Contracts Data

### INVESCO High Yield Fund (Series ID: S000000243)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000000586 | Class A        | AMHYX           |
| C000000588 | Class C        | AHYCX           |
| C000000589 | Investor Class | HYINX           |
| C000023117 | CLASS R5       | AHIYX           |
| C000071210 | Class Y        | AHHYX           |
| C000120675 | Class R6       | HYIFX           |

### INVESCO Income Fund (Series ID: S000000251)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000000601 | Class A        | AGOVX           |
| C000000603 | Class C        | AGVCX           |
| C000000604 | Class R        | AGVRX           |
| C000000605 | Investor Class | AGIVX           |
| C000029663 | CLASS R5       | AGOIX           |
| C000071212 | Class Y        | AGVYX           |
| C000188949 | Class R6       |  |

### INVESCO Short Duration Inflation Protected Fund (Series ID: S000000252)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000000606 | Class A2     | SHTIX           |
| C000000607 | Class A      | LMTAX           |
| C000023119 | CLASS R5     | ALMIX           |
| C000071213 | Class Y      | LMTYX           |
| C000164285 | Class R6     |  |

### INVESCO Government Money Market Fund (Series ID: S000000253)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000000609 | Class C              |  |
| C000000610 | Class R              |  |
| C000000611 | Invesco Cash Reserve | AIMXX           |
| C000023120 | Investor Class       | INAXX           |
| C000071214 | Class Y              |  |
| C000085152 | CLASS AX             | ACZXX           |
| C000085154 | CLASS CX             | ACXXX           |
| C000188950 | Class R6             |  |
| C000217953 | Class A              |  |

### INVESCO Real Estate Fund (Series ID: S000000255)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000000616 | Class A        | IARAX           |
| C000000618 | Class C        | IARCX           |
| C000000619 | Class R        | IARRX           |
| C000000620 | Investor Class | REINX           |
| C000023123 | CLASS R5       | IARIX           |
| C000071216 | Class Y        | IARYX           |
| C000120676 | Class R6       | IARFX           |

### INVESCO Short Term Bond Fund (Series ID: S000000256)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000000621 | Class A      | STBAX           |
| C000000622 | Class C      | STBCX           |
| C000000623 | Class R      | STBRX           |
| C000023124 | CLASS R5     | ISTBX           |
| C000071217 | Class Y      | STBYX           |
| C000120677 | Class R6     | ISTFX           |

### INVESCO Global Real Estate Fund (Series ID: S000010736)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000029658 | Class A      | AGREX           |
| C000029660 | Class C      | CGREX           |
| C000029661 | Class R      | RGREX           |
| C000029662 | CLASS R5     | IGREX           |
| C000071219 | Class Y      | ARGYX           |
| C000120678 | Class R6     | FGREX           |

### INVESCO CORPORATE BOND FUND (Series ID: S000027851)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000084553 | CLASS C      | ACCEX           |
| C000084554 | CLASS Y      | ACCHX           |
| C000084555 | CLASS R5     | ACCWX           |
| C000084556 | CLASS A      | ACCBX           |
| C000095838 | Class R      | ACCZX           |
| C000120680 | Class R6     | ICBFX           |

### Invesco U.S. Government Money Portfolio (Series ID: S000064669)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000209395 | Invesco Cash Reserve |  |
| C000209396 | Class R              |  |
| C000209397 | Class Y              |  |
| C000209398 | Class R6             |  |
| C000209399 | Class C              |  |

### Invesco SMA High Yield Bond Fund (Series ID: S000079750)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000241067 | Invesco SMA High Yield Bond Fund |  |

?xml version='1.0' encoding='ASCII'? 181592fd-3d9a-407a-ac4c-629385261299

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

------

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

------

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

#### Investment Company Act file number

#### 811-05686

#### AIM Investment Securities Funds (Invesco Investment Securities Funds)
(Exact name of registrant as specified in charter)

------

11 Greenway Plaza, Suite 1000 Houston, Texas 77046

(Address of principal executive offices) (Zip code)

Glenn Brightman, Principal Executive Officer

11 Greenway Plaza, Suite 1000

Houston, Texas 77046

(Name and address of agent for service)

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

#### Date of fiscal year end:

#### February 28

#### Date of reporting period:

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

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

![TSR_logo](images_2685.jpg)

### Invesco Corporate Bond Fund

### Class A: ACCBX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Corporate Bond Fund<br> (Class A) | $73 | 0.71% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended February 28, 2026, the corporate bond market continued to benefit from generally supportive fundamentals, including resilient economic growth and stable corporate balance sheets. Credit spreads remained near historically tight levels for much of the period, although there were intermittent periods of modest widening as macro conditions evolved. Because the Fund holds predominantly corporate bonds, it benefited from this overall constructive market environment.

 **•** For the fiscal year ended February 28, 2026, Class A shares of the Fund, excluding sales charge, returned 6.27%. For the same time period, the Bloomberg U.S. Credit Index returned 6.68%.

#### What contributed to performance?
 **Investment-grade industrials \|** Exposure to the investment-grade industrials sector contributed to relative Fund performance, supported by stable corporate fundamentals and continued demand for high-quality credit across key industries.

 **High-yield industrials \|** Sector allocation within high-yield corporates, particularly in the industrials sub-sector, contributed positively during the fiscal year, as the broader high-yield market was supported by constructive risk sentiment and resilient issuer fundamentals.

#### What detracted from performance?
 **Investment-grade financials \|** Security selection within the investment-grade financials sector detracted from the Fund's relative performance, as several issuers underperformed during the period.

 **Treasuries \|** Selection within Treasuries, particularly in longer maturity bonds, detracted from relative performance amid an elevated rates environment.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994084.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Corporate Bond Fund (Class A) —including sales charge** | 1.73% | -0.30% | 3.29% |
| **Invesco Corporate Bond Fund (Class A) —excluding sales charge** | 6.27% | 0.58% | 3.75% |
| **Bloomberg U.S. Credit Index** | 6.68% | 0.85% | 3.16% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$4134581616 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;1819 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$10543516 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;219% |

---

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

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 4.13%, 02/15/2036 | &nbsp;&nbsp;&nbsp;1.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bonds, 4.63%, 11/15/2055 | &nbsp;&nbsp;&nbsp;0.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;Beignet Investor LLC, 6.58%, 05/30/2049 | &nbsp;&nbsp;&nbsp;0.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eagle Funding LuxCo S.a.r.l., 5.50%, 08/17/2030 | &nbsp;&nbsp;&nbsp;0.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 5.39%, 02/02/2041 | &nbsp;&nbsp;&nbsp;0.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Raising Cane's Restaurants LLC, Term Loan, 5.67%, 11/03/2032 | &nbsp;&nbsp;&nbsp;0.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;AP Grange Holdings LLC, 6.50%, 03/20/2045 | &nbsp;&nbsp;&nbsp;0.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;QTS Thunder Managing Issuer LLC, 5.67%, 12/10/2030 | &nbsp;&nbsp;&nbsp;0.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Royal Bank of Canada, 6.50%, 05/24/2086 | &nbsp;&nbsp;&nbsp;0.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 5.54%, 01/21/2047 | &nbsp;&nbsp;&nbsp;0.44% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Security type allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994089.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

VK-CBD-AR-A **Invesco Corporate Bond Fund**

![TSR_logo](images_2685.jpg)

### Invesco Corporate Bond Fund

### Class C: ACCEX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Corporate Bond Fund<br>(Class C) | $147 | 1.43% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, the corporate bond market continued to benefit from generally supportive fundamentals, including resilient economic growth and stable corporate balance sheets. Credit spreads remained near historically tight levels for much of the period, although there were intermittent periods of modest widening as macro conditions evolved. Because the Fund holds predominantly corporate bonds, it benefited from this overall constructive market environment.

**•** For the fiscal year ended February 28, 2026, Class C shares of the Fund, excluding sales charge, returned 5.52%. For the same time period, the Bloomberg U.S. Credit Index returned 6.68%.

#### What contributed to performance?
**Investment-grade industrials \|** Exposure to the investment-grade industrials sector contributed to relative Fund performance, supported by stable corporate fundamentals and continued demand for high-quality credit across key industries.

**High-yield industrials \|** Sector allocation within high-yield corporates, particularly in the industrials sub-sector, contributed positively during the fiscal year, as the broader high-yield market was supported by constructive risk sentiment and resilient issuer fundamentals.

#### What detracted from performance?
**Investment-grade financials \|** Security selection within the investment-grade financials sector detracted from the Fund's relative performance, as several issuers underperformed during the period.

**Treasuries \|** Selection within Treasuries, particularly in longer maturity bonds, detracted from relative performance amid an elevated rates environment.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994127.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Corporate Bond Fund (Class C) —including sales charge** | 4.52% | -0.19% | 3.15% |
| **Invesco Corporate Bond Fund (Class C) —excluding sales charge** | 5.52% | -0.19% | 3.15% |
| **Bloomberg U.S. Credit Index** | 6.68% | 0.85% | 3.16% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$4134581616 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;1819 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$10543516 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;219% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 4.13%, 02/15/2036 | &nbsp;&nbsp;&nbsp;1.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bonds, 4.63%, 11/15/2055 | &nbsp;&nbsp;&nbsp;0.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;Beignet Investor LLC, 6.58%, 05/30/2049 | &nbsp;&nbsp;&nbsp;0.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eagle Funding LuxCo S.a.r.l., 5.50%, 08/17/2030 | &nbsp;&nbsp;&nbsp;0.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 5.39%, 02/02/2041 | &nbsp;&nbsp;&nbsp;0.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Raising Cane's Restaurants LLC, Term Loan, 5.67%, 11/03/2032 | &nbsp;&nbsp;&nbsp;0.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;AP Grange Holdings LLC, 6.50%, 03/20/2045 | &nbsp;&nbsp;&nbsp;0.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;QTS Thunder Managing Issuer LLC, 5.67%, 12/10/2030 | &nbsp;&nbsp;&nbsp;0.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Royal Bank of Canada, 6.50%, 05/24/2086 | &nbsp;&nbsp;&nbsp;0.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 5.54%, 01/21/2047 | &nbsp;&nbsp;&nbsp;0.44% |
| \* Excluding money market fund holdings, if any. |  |

---

**Security type allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994122.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

VK-CBD-AR-C **Invesco Corporate Bond Fund**

![TSR_logo](images_2685.jpg)

### Invesco Corporate Bond Fund

### Class R: ACCZX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Corporate Bond Fund<br>(Class R) | $99 | 0.96% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, the corporate bond market continued to benefit from generally supportive fundamentals, including resilient economic growth and stable corporate balance sheets. Credit spreads remained near historically tight levels for much of the period, although there were intermittent periods of modest widening as macro conditions evolved. Because the Fund holds predominantly corporate bonds, it benefited from this overall constructive market environment.

**•** For the fiscal year ended February 28, 2026, Class R shares of the Fund returned 6.00%. For the same time period, the Bloomberg U.S. Credit Index returned 6.68%.

#### What contributed to performance?
**Investment-grade industrials \|** Exposure to the investment-grade industrials sector contributed to relative Fund performance, supported by stable corporate fundamentals and continued demand for high-quality credit across key industries.

**High-yield industrials \|** Sector allocation within high-yield corporates, particularly in the industrials sub-sector, contributed positively during the fiscal year, as the broader high-yield market was supported by constructive risk sentiment and resilient issuer fundamentals.

#### What detracted from performance?
**Investment-grade financials \|** Security selection within the investment-grade financials sector detracted from the Fund's relative performance, as several issuers underperformed during the period.

**Treasuries \|** Selection within Treasuries, particularly in longer maturity bonds, detracted from relative performance amid an elevated rates environment.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994043.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Corporate Bond Fund (Class R)** | 6.00% | 0.30% | 3.49% |
| **Bloomberg U.S. Credit Index** | 6.68% | 0.85% | 3.16% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$4134581616 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;1819 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$10543516 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;219% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 4.13%, 02/15/2036 | &nbsp;&nbsp;&nbsp;1.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bonds, 4.63%, 11/15/2055 | &nbsp;&nbsp;&nbsp;0.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;Beignet Investor LLC, 6.58%, 05/30/2049 | &nbsp;&nbsp;&nbsp;0.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eagle Funding LuxCo S.a.r.l., 5.50%, 08/17/2030 | &nbsp;&nbsp;&nbsp;0.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 5.39%, 02/02/2041 | &nbsp;&nbsp;&nbsp;0.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Raising Cane's Restaurants LLC, Term Loan, 5.67%, 11/03/2032 | &nbsp;&nbsp;&nbsp;0.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;AP Grange Holdings LLC, 6.50%, 03/20/2045 | &nbsp;&nbsp;&nbsp;0.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;QTS Thunder Managing Issuer LLC, 5.67%, 12/10/2030 | &nbsp;&nbsp;&nbsp;0.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Royal Bank of Canada, 6.50%, 05/24/2086 | &nbsp;&nbsp;&nbsp;0.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 5.54%, 01/21/2047 | &nbsp;&nbsp;&nbsp;0.44% |
| \* Excluding money market fund holdings, if any. |  |

---

**Security type allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994038.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

VK-CBD-AR-R **Invesco Corporate Bond Fund**

![TSR_logo](images_2685.jpg)

### Invesco Corporate Bond Fund

### Class Y: ACCHX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Corporate Bond Fund<br>(Class Y) | $48 | 0.46% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, the corporate bond market continued to benefit from generally supportive fundamentals, including resilient economic growth and stable corporate balance sheets. Credit spreads remained near historically tight levels for much of the period, although there were intermittent periods of modest widening as macro conditions evolved. Because the Fund holds predominantly corporate bonds, it benefited from this overall constructive market environment.

**•** For the fiscal year ended February 28, 2026, Class Y shares of the Fund returned 6.53%. For the same time period, the Bloomberg U.S. Credit Index returned 6.68%.

#### What contributed to performance?
**Investment-grade industrials \|** Exposure to the investment-grade industrials sector contributed to relative Fund performance, supported by stable corporate fundamentals and continued demand for high-quality credit across key industries.

**High-yield industrials \|** Sector allocation within high-yield corporates, particularly in the industrials sub-sector, contributed positively during the fiscal year, as the broader high-yield market was supported by constructive risk sentiment and resilient issuer fundamentals.

#### What detracted from performance?
**Investment-grade financials \|** Security selection within the investment-grade financials sector detracted from the Fund's relative performance, as several issuers underperformed during the period.

**Treasuries \|** Selection within Treasuries, particularly in longer maturity bonds, detracted from relative performance amid an elevated rates environment.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9993982.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Corporate Bond Fund (Class Y)** | 6.53% | 0.81% | 4.00% |
| **Bloomberg U.S. Credit Index** | 6.68% | 0.85% | 3.16% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$4134581616 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;1819 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$10543516 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;219% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 4.13%, 02/15/2036 | &nbsp;&nbsp;&nbsp;1.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bonds, 4.63%, 11/15/2055 | &nbsp;&nbsp;&nbsp;0.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;Beignet Investor LLC, 6.58%, 05/30/2049 | &nbsp;&nbsp;&nbsp;0.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eagle Funding LuxCo S.a.r.l., 5.50%, 08/17/2030 | &nbsp;&nbsp;&nbsp;0.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 5.39%, 02/02/2041 | &nbsp;&nbsp;&nbsp;0.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Raising Cane's Restaurants LLC, Term Loan, 5.67%, 11/03/2032 | &nbsp;&nbsp;&nbsp;0.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;AP Grange Holdings LLC, 6.50%, 03/20/2045 | &nbsp;&nbsp;&nbsp;0.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;QTS Thunder Managing Issuer LLC, 5.67%, 12/10/2030 | &nbsp;&nbsp;&nbsp;0.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Royal Bank of Canada, 6.50%, 05/24/2086 | &nbsp;&nbsp;&nbsp;0.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 5.54%, 01/21/2047 | &nbsp;&nbsp;&nbsp;0.44% |
| \* Excluding money market fund holdings, if any. |  |

---

**Security type allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9993987.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

VK-CBD-AR-Y **Invesco Corporate Bond Fund**

![TSR_logo](images_2685.jpg)

### Invesco Corporate Bond Fund

### Class R5: ACCWX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Corporate Bond Fund<br>(Class R5) | $42 | 0.41% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, the corporate bond market continued to benefit from generally supportive fundamentals, including resilient economic growth and stable corporate balance sheets. Credit spreads remained near historically tight levels for much of the period, although there were intermittent periods of modest widening as macro conditions evolved. Because the Fund holds predominantly corporate bonds, it benefited from this overall constructive market environment.

**•** For the fiscal year ended February 28, 2026, Class R5 shares of the Fund returned 6.58%. For the same time period, the Bloomberg U.S. Credit Index returned 6.68%.

#### What contributed to performance?
**Investment-grade industrials \|** Exposure to the investment-grade industrials sector contributed to relative Fund performance, supported by stable corporate fundamentals and continued demand for high-quality credit across key industries.

**High-yield industrials \|** Sector allocation within high-yield corporates, particularly in the industrials sub-sector, contributed positively during the fiscal year, as the broader high-yield market was supported by constructive risk sentiment and resilient issuer fundamentals.

#### What detracted from performance?
**Investment-grade financials \|** Security selection within the investment-grade financials sector detracted from the Fund's relative performance, as several issuers underperformed during the period.

**Treasuries \|** Selection within Treasuries, particularly in longer maturity bonds, detracted from relative performance amid an elevated rates environment.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994149.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Corporate Bond Fund (Class R5)** | 6.58% | 0.90% | 4.09% |
| **Bloomberg U.S. Credit Index** | 6.68% | 0.85% | 3.16% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$4134581616 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;1819 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$10543516 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;219% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 4.13%, 02/15/2036 | &nbsp;&nbsp;&nbsp;1.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bonds, 4.63%, 11/15/2055 | &nbsp;&nbsp;&nbsp;0.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;Beignet Investor LLC, 6.58%, 05/30/2049 | &nbsp;&nbsp;&nbsp;0.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eagle Funding LuxCo S.a.r.l., 5.50%, 08/17/2030 | &nbsp;&nbsp;&nbsp;0.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 5.39%, 02/02/2041 | &nbsp;&nbsp;&nbsp;0.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Raising Cane's Restaurants LLC, Term Loan, 5.67%, 11/03/2032 | &nbsp;&nbsp;&nbsp;0.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;AP Grange Holdings LLC, 6.50%, 03/20/2045 | &nbsp;&nbsp;&nbsp;0.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;QTS Thunder Managing Issuer LLC, 5.67%, 12/10/2030 | &nbsp;&nbsp;&nbsp;0.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Royal Bank of Canada, 6.50%, 05/24/2086 | &nbsp;&nbsp;&nbsp;0.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 5.54%, 01/21/2047 | &nbsp;&nbsp;&nbsp;0.44% |
| \* Excluding money market fund holdings, if any. |  |

---

**Security type allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994154.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

VK-CBD-AR-R5 **Invesco Corporate Bond Fund**

![TSR_logo](images_2685.jpg)

### Invesco Corporate Bond Fund

### Class R6: ICBFX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Corporate Bond Fund<br> (Class R6) | $35 | 0.34% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended February 28, 2026, the corporate bond market continued to benefit from generally supportive fundamentals, including resilient economic growth and stable corporate balance sheets. Credit spreads remained near historically tight levels for much of the period, although there were intermittent periods of modest widening as macro conditions evolved. Because the Fund holds predominantly corporate bonds, it benefited from this overall constructive market environment.

 **•** For the fiscal year ended February 28, 2026, Class R6 shares of the Fund returned 6.66%. For the same time period, the Bloomberg U.S. Credit Index returned 6.68%.

#### What contributed to performance?
 **Investment-grade industrials \|** Exposure to the investment-grade industrials sector contributed to relative Fund performance, supported by stable corporate fundamentals and continued demand for high-quality credit across key industries.

 **High-yield industrials \|** Sector allocation within high-yield corporates, particularly in the industrials sub-sector, contributed positively during the fiscal year, as the broader high-yield market was supported by constructive risk sentiment and resilient issuer fundamentals.

#### What detracted from performance?
 **Investment-grade financials \|** Security selection within the investment-grade financials sector detracted from the Fund's relative performance, as several issuers underperformed during the period.

 **Treasuries \|** Selection within Treasuries, particularly in longer maturity bonds, detracted from relative performance amid an elevated rates environment.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994185.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Corporate Bond Fund (Class R6)** | 6.66% | 0.94% | 4.15% |
| **Bloomberg U.S. Credit Index** | 6.68% | 0.85% | 3.16% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$4134581616 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;1819 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$10543516 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;219% |

---

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

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 4.13%, 02/15/2036 | &nbsp;&nbsp;&nbsp;1.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bonds, 4.63%, 11/15/2055 | &nbsp;&nbsp;&nbsp;0.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;Beignet Investor LLC, 6.58%, 05/30/2049 | &nbsp;&nbsp;&nbsp;0.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eagle Funding LuxCo S.a.r.l., 5.50%, 08/17/2030 | &nbsp;&nbsp;&nbsp;0.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 5.39%, 02/02/2041 | &nbsp;&nbsp;&nbsp;0.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Raising Cane's Restaurants LLC, Term Loan, 5.67%, 11/03/2032 | &nbsp;&nbsp;&nbsp;0.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;AP Grange Holdings LLC, 6.50%, 03/20/2045 | &nbsp;&nbsp;&nbsp;0.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;QTS Thunder Managing Issuer LLC, 5.67%, 12/10/2030 | &nbsp;&nbsp;&nbsp;0.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Royal Bank of Canada, 6.50%, 05/24/2086 | &nbsp;&nbsp;&nbsp;0.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 5.54%, 01/21/2047 | &nbsp;&nbsp;&nbsp;0.44% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Security type allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994190.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

VK-CBD-AR-R6 **Invesco Corporate Bond Fund**

![TSR_logo](images_2685.jpg)

### Invesco Global Real Estate Fund

### Class A: AGREX

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

#### This report describes changes to the Fund that occurred during the reporting period.

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Global Real Estate Fund<br>(Class A) | $1601.49%<sup>†</sup> |

---

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

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, the global real estate market was shaped by a volatile macro environment, driven by widespread uncertainty, shifting interest rate expectations, and mixed economic signals. US Tariff announcements and policy shifts under the new United States (US) presidential administration added further uncertainty, contributing to market volatility.

**•** For the fiscal year ended February 28, 2026, Class A shares of the Fund, excluding sales charge, returned 14.69%. For the same time period, the Custom Invesco Global Real Estate Index (Net) (the "Benchmark") returned 16.98%. The Fund underperformed the Benchmark primarily due to both stock selection and market allocation at the country and sector levels.

#### What contributed to performance?
**Hong Kong \|** The Fund benefited from stock selection within Hong Kong. Overweight exposure to diversified holding, Sun Hung Kai Properties, and office holding, Hongkong Land Holdings, contributed positively to Fund performance during the period.

**Spain \|** The Fund benefited from an overweight exposure to Spain, primarily through its overweight position in the diversified holding, Merlin Properties (MRL SM). MRL SM owns a portfolio of mostly Spanish office, retail and data center assets.

#### What detracted from performance?
**United States \|** While the Fund maintained an underweight exposure to the office sector within the US, the Fund's overweight position to Vornado Realty Trust (VNO US) detracted from relative performance during the period. VNO US and other New York City exposed companies also experienced negative performance during the period following the mayoral election in New York City.

**Japan \|** Stock selection in Japan detracted from the Fund's relative performance. One of the key detractors that contributed to the underperformance was the Fund's underweight exposure to Japanese developer Mitsubishi Estate. The Fund's positioning focused on other Japanese developers with more robust and visible growth outlooks, diversified business mix and attractive relative valuation.

**Switzerland \|** The Fund's relative performance detracted from an underweight exposure to Switzerland, primarily through its position in Swiss Prime.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994221.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Global Real Estate Fund (Class A) —including sales charge** | 8.36% | 1.83% | 3.19% |
| **Invesco Global Real Estate Fund (Class A) —excluding sales charge** | 14.69% | 2.99% | 3.77% |
| **Custom Invesco Global Real Estate Index (Net)** | 16.98% | 4.01% | 4.83% |
| **MSCI World Index℠ (Net)** | 21.33% | 12.46% | 13.28% |

---

The Custom Invesco Global Real Estate Index (Net) is composed of the FTSE EPRA Nareit Global Index (Net) through June 30, 2021; and the FTSE EPRA Nareit Developed Index (Net) from July 1, 2021 onward.

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** *Please visit invesco.com/performance for more recent performance information.*

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$117596134 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;80 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$941555 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;76% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Welltower, Inc. | &nbsp;&nbsp;&nbsp;7.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;5.68% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;4.44% |
| &nbsp;&nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;4.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;3.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;Brixmor Property Group, Inc. | &nbsp;&nbsp;&nbsp;2.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodman Group | &nbsp;&nbsp;&nbsp;2.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;First Industrial Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;2.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Omega Healthcare Investors, Inc. | &nbsp;&nbsp;&nbsp;2.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. | &nbsp;&nbsp;&nbsp;2.57% |
| \* Excluding money market fund holdings, if any. |  |

---

**Country allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994226.jpg) 

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since February 28, 2025. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

Effective November 5, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, no longer provides day-to-day management of the Fund.

At a meeting held on December 8-10, 2025, the Board of Trustees of the Fund unanimously approved an Agreement and Plan of Reorganization (the "Agreement") pursuant to which the Fund would transfer all or substantially all of its assets and liabilities to Invesco Global Real Estate Income Fund (the "Acquiring Fund"). The reorganization is expected to be consummated on or about June 5, 2026. Upon closing of the reorganization, shareholders of the Fund will receive shares of the Acquiring Fund in exchange for their shares of the Fund, and the Fund will liquidate and cease operations. 

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

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

![TSR_QRcode](images_2684.jpg)

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

GRE-AR-A **Invesco Global Real Estate Fund**

![TSR_logo](images_2685.jpg)

### Invesco Global Real Estate Fund

### Class C: CGREX

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

#### This report describes changes to the Fund that occurred during the reporting period.

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Global Real Estate Fund<br>(Class C) | $2392.24%<sup>†</sup> |

---

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

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, the global real estate market was shaped by a volatile macro environment, driven by widespread uncertainty, shifting interest rate expectations, and mixed economic signals. US Tariff announcements and policy shifts under the new United States (US) presidential administration added further uncertainty, contributing to market volatility.

**•** For the fiscal year ended February 28, 2026, Class C shares of the Fund, excluding sales charge, returned 13.79%. For the same time period, the Custom Invesco Global Real Estate Index (Net) (the "Benchmark") returned 16.98%. The Fund underperformed the Benchmark primarily due to both stock selection and market allocation at the country and sector levels.

#### What contributed to performance?
**Hong Kong \|** The Fund benefited from stock selection within Hong Kong. Overweight exposure to diversified holding, Sun Hung Kai Properties, and office holding, Hongkong Land Holdings, contributed positively to Fund performance during the period.

**Spain \|** The Fund benefited from an overweight exposure to Spain, primarily through its overweight position in the diversified holding, Merlin Properties (MRL SM). MRL SM owns a portfolio of mostly Spanish office, retail and data center assets.

#### What detracted from performance?
**United States \|** While the Fund maintained an underweight exposure to the office sector within the US, the Fund's overweight position to Vornado Realty Trust (VNO US) detracted from relative performance during the period. VNO US and other New York City exposed companies also experienced negative performance during the period following the mayoral election in New York City.

**Japan \|** Stock selection in Japan detracted from the Fund's relative performance. One of the key detractors that contributed to the underperformance was the Fund's underweight exposure to Japanese developer Mitsubishi Estate. The Fund's positioning focused on other Japanese developers with more robust and visible growth outlooks, diversified business mix and attractive relative valuation.

**Switzerland \|** The Fund's relative performance detracted from an underweight exposure to Switzerland, primarily through its position in Swiss Prime.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994257.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Global Real Estate Fund (Class C) —including sales charge** | 12.67% | 2.20% | 3.13% |
| **Invesco Global Real Estate Fund (Class C) —excluding sales charge** | 13.79% | 2.20% | 3.13% |
| **Custom Invesco Global Real Estate Index (Net)** | 16.98% | 4.01% | 4.83% |
| **MSCI World Index℠ (Net)** | 21.33% | 12.46% | 13.28% |

---

The Custom Invesco Global Real Estate Index (Net) is composed of the FTSE EPRA Nareit Global Index (Net) through June 30, 2021; and the FTSE EPRA Nareit Developed Index (Net) from July 1, 2021 onward.

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** *Please visit invesco.com/performance for more recent performance information.*

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$117596134 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;80 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$941555 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;76% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Welltower, Inc. | &nbsp;&nbsp;&nbsp;7.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;5.68% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;4.44% |
| &nbsp;&nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;4.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;3.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;Brixmor Property Group, Inc. | &nbsp;&nbsp;&nbsp;2.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodman Group | &nbsp;&nbsp;&nbsp;2.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;First Industrial Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;2.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Omega Healthcare Investors, Inc. | &nbsp;&nbsp;&nbsp;2.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. | &nbsp;&nbsp;&nbsp;2.57% |
| \* Excluding money market fund holdings, if any. |  |

---

**Country allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994262.jpg) 

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since February 28, 2025. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

Effective November 5, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, no longer provides day-to-day management of the Fund.

At a meeting held on December 8-10, 2025, the Board of Trustees of the Fund unanimously approved an Agreement and Plan of Reorganization (the "Agreement") pursuant to which the Fund would transfer all or substantially all of its assets and liabilities to Invesco Global Real Estate Income Fund (the "Acquiring Fund"). The reorganization is expected to be consummated on or about June 5, 2026. Upon closing of the reorganization, shareholders of the Fund will receive shares of the Acquiring Fund in exchange for their shares of the Fund, and the Fund will liquidate and cease operations. 

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

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

![TSR_QRcode](images_2684.jpg)

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

GRE-AR-C **Invesco Global Real Estate Fund**

![TSR_logo](images_2685.jpg)

### Invesco Global Real Estate Fund

### Class R: RGREX

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

#### This report describes changes to the Fund that occurred during the reporting period.

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Global Real Estate Fund<br>(Class R) | $1861.74%<sup>†</sup> |

---

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

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, the global real estate market was shaped by a volatile macro environment, driven by widespread uncertainty, shifting interest rate expectations, and mixed economic signals. US Tariff announcements and policy shifts under the new United States (US) presidential administration added further uncertainty, contributing to market volatility.

**•** For the fiscal year ended February 28, 2026, Class R shares of the Fund returned 14.29%. For the same time period, the Custom Invesco Global Real Estate Index (Net) (the "Benchmark") returned 16.98%. The Fund underperformed the Benchmark primarily due to both stock selection and market allocation at the country and sector levels.

#### What contributed to performance?
**Hong Kong \|** The Fund benefited from stock selection within Hong Kong. Overweight exposure to diversified holding, Sun Hung Kai Properties, and office holding, Hongkong Land Holdings, contributed positively to Fund performance during the period.

**Spain \|** The Fund benefited from an overweight exposure to Spain, primarily through its overweight position in the diversified holding, Merlin Properties (MRL SM). MRL SM owns a portfolio of mostly Spanish office, retail and data center assets.

#### What detracted from performance?
**United States \|** While the Fund maintained an underweight exposure to the office sector within the US, the Fund's overweight position to Vornado Realty Trust (VNO US) detracted from relative performance during the period. VNO US and other New York City exposed companies also experienced negative performance during the period following the mayoral election in New York City.

**Japan \|** Stock selection in Japan detracted from the Fund's relative performance. One of the key detractors that contributed to the underperformance was the Fund's underweight exposure to Japanese developer Mitsubishi Estate. The Fund's positioning focused on other Japanese developers with more robust and visible growth outlooks, diversified business mix and attractive relative valuation.

**Switzerland \|** The Fund's relative performance detracted from an underweight exposure to Switzerland, primarily through its position in Swiss Prime.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994293.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Global Real Estate Fund (Class R)** | 14.29% | 2.73% | 3.48% |
| **Custom Invesco Global Real Estate Index (Net)** | 16.98% | 4.01% | 4.83% |
| **MSCI World Index℠ (Net)** | 21.33% | 12.46% | 13.28% |

---

The Custom Invesco Global Real Estate Index (Net) is composed of the FTSE EPRA Nareit Global Index (Net) through June 30, 2021; and the FTSE EPRA Nareit Developed Index (Net) from July 1, 2021 onward.

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$117596134 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;80 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$941555 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;76% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Welltower, Inc. | &nbsp;&nbsp;&nbsp;7.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;5.68% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;4.44% |
| &nbsp;&nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;4.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;3.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;Brixmor Property Group, Inc. | &nbsp;&nbsp;&nbsp;2.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodman Group | &nbsp;&nbsp;&nbsp;2.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;First Industrial Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;2.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Omega Healthcare Investors, Inc. | &nbsp;&nbsp;&nbsp;2.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. | &nbsp;&nbsp;&nbsp;2.57% |
| \* Excluding money market fund holdings, if any. |  |

---

**Country allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994298.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since February 28, 2025. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

Effective November 5, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, no longer provides day-to-day management of the Fund.

At a meeting held on December 8-10, 2025, the Board of Trustees of the Fund unanimously approved an Agreement and Plan of Reorganization (the "Agreement") pursuant to which the Fund would transfer all or substantially all of its assets and liabilities to Invesco Global Real Estate Income Fund (the "Acquiring Fund"). The reorganization is expected to be consummated on or about June 5, 2026. Upon closing of the reorganization, shareholders of the Fund will receive shares of the Acquiring Fund in exchange for their shares of the Fund, and the Fund will liquidate and cease operations.

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

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

![TSR_QRcode](images_2684.jpg)

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

GRE-AR-R **Invesco Global Real Estate Fund**

![TSR_logo](images_2685.jpg)

### Invesco Global Real Estate Fund

### Class Y: ARGYX

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

#### This report describes changes to the Fund that occurred during the reporting period.

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Global Real Estate Fund<br>(Class Y) | $1331.24%<sup>†</sup> |

---

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

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, the global real estate market was shaped by a volatile macro environment, driven by widespread uncertainty, shifting interest rate expectations, and mixed economic signals. US Tariff announcements and policy shifts under the new United States (US) presidential administration added further uncertainty, contributing to market volatility.

**•** For the fiscal year ended February 28, 2026, Class Y shares of the Fund returned 14.88%. For the same time period, the Custom Invesco Global Real Estate Index (Net) (the "Benchmark") returned 16.98%. The Fund underperformed the Benchmark primarily due to both stock selection and market allocation at the country and sector levels.

#### What contributed to performance?
**Hong Kong \|** The Fund benefited from stock selection within Hong Kong. Overweight exposure to diversified holding, Sun Hung Kai Properties, and office holding, Hongkong Land Holdings, contributed positively to Fund performance during the period.

**Spain \|** The Fund benefited from an overweight exposure to Spain, primarily through its overweight position in the diversified holding, Merlin Properties (MRL SM). MRL SM owns a portfolio of mostly Spanish office, retail and data center assets.

#### What detracted from performance?
**United States \|** While the Fund maintained an underweight exposure to the office sector within the US, the Fund's overweight position to Vornado Realty Trust (VNO US) detracted from relative performance during the period. VNO US and other New York City exposed companies also experienced negative performance during the period following the mayoral election in New York City.

**Japan \|** Stock selection in Japan detracted from the Fund's relative performance. One of the key detractors that contributed to the underperformance was the Fund's underweight exposure to Japanese developer Mitsubishi Estate. The Fund's positioning focused on other Japanese developers with more robust and visible growth outlooks, diversified business mix and attractive relative valuation.

**Switzerland \|** The Fund's relative performance detracted from an underweight exposure to Switzerland, primarily through its position in Swiss Prime.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994329.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Global Real Estate Fund (Class Y)** | 14.88% | 3.24% | 4.01% |
| **Custom Invesco Global Real Estate Index (Net)** | 16.98% | 4.01% | 4.83% |
| **MSCI World Index℠ (Net)** | 21.33% | 12.46% | 13.28% |

---

The Custom Invesco Global Real Estate Index (Net) is composed of the FTSE EPRA Nareit Global Index (Net) through June 30, 2021; and the FTSE EPRA Nareit Developed Index (Net) from July 1, 2021 onward.

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$117596134 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;80 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$941555 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;76% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Welltower, Inc. | &nbsp;&nbsp;&nbsp;7.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;5.68% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;4.44% |
| &nbsp;&nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;4.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;3.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;Brixmor Property Group, Inc. | &nbsp;&nbsp;&nbsp;2.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodman Group | &nbsp;&nbsp;&nbsp;2.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;First Industrial Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;2.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Omega Healthcare Investors, Inc. | &nbsp;&nbsp;&nbsp;2.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. | &nbsp;&nbsp;&nbsp;2.57% |
| \* Excluding money market fund holdings, if any. |  |

---

**Country allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994334.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since February 28, 2025. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

Effective November 5, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, no longer provides day-to-day management of the Fund.

At a meeting held on December 8-10, 2025, the Board of Trustees of the Fund unanimously approved an Agreement and Plan of Reorganization (the "Agreement") pursuant to which the Fund would transfer all or substantially all of its assets and liabilities to Invesco Global Real Estate Income Fund (the "Acquiring Fund"). The reorganization is expected to be consummated on or about June 5, 2026. Upon closing of the reorganization, shareholders of the Fund will receive shares of the Acquiring Fund in exchange for their shares of the Fund, and the Fund will liquidate and cease operations.

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

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

![TSR_QRcode](images_2684.jpg)

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

GRE-AR-Y **Invesco Global Real Estate Fund**

![TSR_logo](images_2685.jpg)

### Invesco Global Real Estate Fund

### Class R5: IGREX

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

#### This report describes changes to the Fund that occurred during the reporting period.

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Global Real Estate Fund<br>(Class R5) | $119 | 1.11% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, the global real estate market was shaped by a volatile macro environment, driven by widespread uncertainty, shifting interest rate expectations, and mixed economic signals. US Tariff announcements and policy shifts under the new United States (US) presidential administration added further uncertainty, contributing to market volatility.

**•** For the fiscal year ended February 28, 2026, Class R5 shares of the Fund returned 14.97%. For the same time period, the Custom Invesco Global Real Estate Index (Net) (the "Benchmark") returned 16.98%. The Fund underperformed the Benchmark primarily due to both stock selection and market allocation at the country and sector levels.

#### What contributed to performance?
**Hong Kong \|** The Fund benefited from stock selection within Hong Kong. Overweight exposure to diversified holding, Sun Hung Kai Properties, and office holding, Hongkong Land Holdings, contributed positively to Fund performance during the period.

**Spain \|** The Fund benefited from an overweight exposure to Spain, primarily through its overweight position in the diversified holding, Merlin Properties (MRL SM). MRL SM owns a portfolio of mostly Spanish office, retail and data center assets.

#### What detracted from performance?
**United States \|** While the Fund maintained an underweight exposure to the office sector within the US, the Fund's overweight position to Vornado Realty Trust (VNO US) detracted from relative performance during the period. VNO US and other New York City exposed companies also experienced negative performance during the period following the mayoral election in New York City.

**Japan \|** Stock selection in Japan detracted from the Fund's relative performance. One of the key detractors that contributed to the underperformance was the Fund's underweight exposure to Japanese developer Mitsubishi Estate. The Fund's positioning focused on other Japanese developers with more robust and visible growth outlooks, diversified business mix and attractive relative valuation.

**Switzerland \|** The Fund's relative performance detracted from an underweight exposure to Switzerland, primarily through its position in Swiss Prime.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994365.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Global Real Estate Fund (Class R5)** | 14.97% | 3.38% | 4.15% |
| **Custom Invesco Global Real Estate Index (Net)** | 16.98% | 4.01% | 4.83% |
| **MSCI World Index℠ (Net)** | 21.33% | 12.46% | 13.28% |

---

The Custom Invesco Global Real Estate Index (Net) is composed of the FTSE EPRA Nareit Global Index (Net) through June 30, 2021; and the FTSE EPRA Nareit Developed Index (Net) from July 1, 2021 onward.

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$117596134 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;80 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$941555 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;76% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Welltower, Inc. | &nbsp;&nbsp;&nbsp;7.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;5.68% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;4.44% |
| &nbsp;&nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;4.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;3.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;Brixmor Property Group, Inc. | &nbsp;&nbsp;&nbsp;2.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodman Group | &nbsp;&nbsp;&nbsp;2.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;First Industrial Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;2.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Omega Healthcare Investors, Inc. | &nbsp;&nbsp;&nbsp;2.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. | &nbsp;&nbsp;&nbsp;2.57% |
| \* Excluding money market fund holdings, if any. |  |

---

**Country allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994370.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since February 28, 2025. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

Effective November 5, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, no longer provides day-to-day management of the Fund.

At a meeting held on December 8-10, 2025, the Board of Trustees of the Fund unanimously approved an Agreement and Plan of Reorganization (the "Agreement") pursuant to which the Fund would transfer all or substantially all of its assets and liabilities to Invesco Global Real Estate Income Fund (the "Acquiring Fund"). The reorganization is expected to be consummated on or about June 5, 2026. Upon closing of the reorganization, shareholders of the Fund will receive shares of the Acquiring Fund in exchange for their shares of the Fund, and the Fund will liquidate and cease operations.

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

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

![TSR_QRcode](images_2684.jpg)

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

GRE-AR-R5 **Invesco Global Real Estate Fund**

![TSR_logo](images_2685.jpg)

### Invesco Global Real Estate Fund

### Class R6: FGREX

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

#### This report describes changes to the Fund that occurred during the reporting period.

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Global Real Estate Fund<br>(Class R6) | $112 | 1.04% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, the global real estate market was shaped by a volatile macro environment, driven by widespread uncertainty, shifting interest rate expectations, and mixed economic signals. US Tariff announcements and policy shifts under the new United States (US) presidential administration added further uncertainty, contributing to market volatility.

**•** For the fiscal year ended February 28, 2026, Class R6 shares of the Fund returned 15.18%. For the same time period, the Custom Invesco Global Real Estate Index (Net) (the "Benchmark") returned 16.98%. The Fund underperformed the Benchmark primarily due to both stock selection and market allocation at the country and sector levels.

#### What contributed to performance?
**Hong Kong \|** The Fund benefited from stock selection within Hong Kong. Overweight exposure to diversified holding, Sun Hung Kai Properties, and office holding, Hongkong Land Holdings, contributed positively to Fund performance during the period.

**Spain \|** The Fund benefited from an overweight exposure to Spain, primarily through its overweight position in the diversified holding, Merlin Properties (MRL SM). MRL SM owns a portfolio of mostly Spanish office, retail and data center assets.

#### What detracted from performance?
**United States \|** While the Fund maintained an underweight exposure to the office sector within the US, the Fund's overweight position to Vornado Realty Trust (VNO US) detracted from relative performance during the period. VNO US and other New York City exposed companies also experienced negative performance during the period following the mayoral election in New York City.

**Japan \|** Stock selection in Japan detracted from the Fund's relative performance. One of the key detractors that contributed to the underperformance was the Fund's underweight exposure to Japanese developer Mitsubishi Estate. The Fund's positioning focused on other Japanese developers with more robust and visible growth outlooks, diversified business mix and attractive relative valuation.

**Switzerland \|** The Fund's relative performance detracted from an underweight exposure to Switzerland, primarily through its position in Swiss Prime.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994401.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Global Real Estate Fund (Class R6)** | 15.18% | 3.45% | 4.23% |
| **Custom Invesco Global Real Estate Index (Net)** | 16.98% | 4.01% | 4.83% |
| **MSCI World Index℠ (Net)** | 21.33% | 12.46% | 13.28% |

---

The Custom Invesco Global Real Estate Index (Net) is composed of the FTSE EPRA Nareit Global Index (Net) through June 30, 2021; and the FTSE EPRA Nareit Developed Index (Net) from July 1, 2021 onward.

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$117596134 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;80 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$941555 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;76% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Welltower, Inc. | &nbsp;&nbsp;&nbsp;7.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;5.68% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;4.44% |
| &nbsp;&nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;4.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;3.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;Brixmor Property Group, Inc. | &nbsp;&nbsp;&nbsp;2.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodman Group | &nbsp;&nbsp;&nbsp;2.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;First Industrial Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;2.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Omega Healthcare Investors, Inc. | &nbsp;&nbsp;&nbsp;2.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. | &nbsp;&nbsp;&nbsp;2.57% |
| \* Excluding money market fund holdings, if any. |  |

---

**Country allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994406.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since February 28, 2025. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

Effective November 5, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, no longer provides day-to-day management of the Fund.

At a meeting held on December 8-10, 2025, the Board of Trustees of the Fund unanimously approved an Agreement and Plan of Reorganization (the "Agreement") pursuant to which the Fund would transfer all or substantially all of its assets and liabilities to Invesco Global Real Estate Income Fund (the "Acquiring Fund"). The reorganization is expected to be consummated on or about June 5, 2026. Upon closing of the reorganization, shareholders of the Fund will receive shares of the Acquiring Fund in exchange for their shares of the Fund, and the Fund will liquidate and cease operations.

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

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

![TSR_QRcode](images_2684.jpg)

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

GRE-AR-R6 **Invesco Global Real Estate Fund**

![TSR_logo](images_2685.jpg)

### Invesco Government Money Market Fund

### Invesco Cash Reserve: AIMXX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Government Money Market Fund<br> (Invesco Cash Reserve) | $47 | 0.46% |

---

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$6283250151 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;116 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$9422905 |

---

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

 **Composition by maturity, in days** 

 **(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;58.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;3.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;1.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;1.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;12.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;22.1% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

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

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

![TSR_QRcode](images_2684.jpg)

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

GMKT-AR-CR **Invesco Government Money Market Fund**

![TSR_logo](images_2685.jpg)

### Invesco Government Money Market Fund

### Class A: ADAXX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Government Money Market Fund<br> (Class A) | $52 | 0.51% |

---

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$6283250151 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;116 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$9422905 |

---

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

 **Composition by maturity, in days** 

 **(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;58.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;3.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;1.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;1.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;12.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;22.1% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

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

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

![TSR_QRcode](images_2684.jpg)

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

GMKT-AR-A **Invesco Government Money Market Fund**

![TSR_logo](images_2685.jpg)

### Invesco Government Money Market Fund

### Class AX: ACZXX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Government Money Market Fund<br> (Class AX) | $47 | 0.46% |

---

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$6283250151 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;116 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$9422905 |

---

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

 **Composition by maturity, in days** 

 **(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;58.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;3.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;1.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;1.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;12.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;22.1% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

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

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

![TSR_QRcode](images_2684.jpg)

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

GMKT-AR-AX **Invesco Government Money Market Fund**

![TSR_logo](images_2685.jpg)

### Invesco Government Money Market Fund

### Class C: ACNXX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Government Money Market Fund<br> (Class C) | $108 | 1.06% |

---

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$6283250151 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;116 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$9422905 |

---

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

 **Composition by maturity, in days** 

 **(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;58.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;3.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;1.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;1.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;12.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;22.1% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

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

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

![TSR_QRcode](images_2684.jpg)

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

GMKT-AR-C **Invesco Government Money Market Fund**

![TSR_logo](images_2685.jpg)

### Invesco Government Money Market Fund

### Class CX: ACXXX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Government Money Market Fund<br> (Class CX) | $123 | 1.21% |

---

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$6283250151 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;116 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$9422905 |

---

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

 **Composition by maturity, in days** 

 **(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;58.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;3.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;1.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;1.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;12.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;22.1% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

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

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

![TSR_QRcode](images_2684.jpg)

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

GMKT-AR-CX **Invesco Government Money Market Fund**

![TSR_logo](images_2685.jpg)

### Invesco Government Money Market Fund

### Class R: AIRXX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Government Money Market Fund<br> (Class R) | $72 | 0.71% |

---

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$6283250151 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;116 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$9422905 |

---

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

 **Composition by maturity, in days** 

 **(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;58.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;3.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;1.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;1.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;12.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;22.1% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

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

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

![TSR_QRcode](images_2684.jpg)

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

GMKT-AR-R **Invesco Government Money Market Fund**

![TSR_logo](images_2685.jpg)

### Invesco Government Money Market Fund

### Class Y: AIYXX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Government Money Market Fund<br> (Class Y) | $32 | 0.31% |

---

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$6283250151 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;116 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$9422905 |

---

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

 **Composition by maturity, in days** 

 **(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;58.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;3.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;1.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;1.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;12.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;22.1% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

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

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

![TSR_QRcode](images_2684.jpg)

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

GMKT-AR-Y **Invesco Government Money Market Fund**

![TSR_logo](images_2685.jpg)

### Invesco Government Money Market Fund

### Investor Class: INAXX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Government Money Market Fund<br> (Investor Class) | $32 | 0.31% |

---

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$6283250151 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;116 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$9422905 |

---

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

 **Composition by maturity, in days** 

 **(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;58.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;3.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;1.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;1.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;12.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;22.1% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

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

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

![TSR_QRcode](images_2684.jpg)

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

GMKT-AR-INV **Invesco Government Money Market Fund**

![TSR_logo](images_2685.jpg)

### Invesco Government Money Market Fund

### Class R6: INVXX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Government Money Market Fund<br> (Class R6) | $24 | 0.24% |

---

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$6283250151 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;116 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$9422905 |

---

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

 **Composition by maturity, in days** 

 **(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;58.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;3.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;1.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;1.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;12.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;22.1% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

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

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

![TSR_QRcode](images_2684.jpg)

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

GMKT-AR-R6 **Invesco Government Money Market Fund**

![TSR_logo](images_2685.jpg)

### Invesco High Yield Fund

### Class A: AMHYX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco High Yield Fund<br> (Class A) | $101 | 0.98% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended February 28, 2026, the corporate bond market benefited from a benign default environment, resilient consumers, interest rate cuts and solid earnings growth. Continued disinflation and resilient economic growth supporting corporate fundamentals, lead to tightening credit spreads despite US tariff uncertainty at the beginning of the period. Because the Fund holds predominantly corporate bonds, it benefited from this broader market environment.

 **•** For the fiscal year ended February, 28, 2026, Class A shares of the Fund, excluding sales charge, returned 6.11%. For the same time period, the Bloomberg U.S. Corporate High Yield 2% Issuer Cap Index (the "Benchmark") returned 7.18%.

#### What contributed to performance?
 **Wirelines and technology \|** Security selection within wirelines and technology positively impacted relative returns during the fiscal year.

 **Off-Benchmark corporate loans \|** Exposure to off-Benchmark corporate loans boosted overall Fund performance during the period.

#### What detracted from performance?
 **Retailers and leisure \|** Security selection within retailers and leisure was a key detractor from relative Fund performance during the fiscal year.

 **Media and entertainment \|** An underweight to the media and entertainment industries detracted from Fund performance during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994437.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco High Yield Fund (Class A) —including sales charge** | 1.56% | 2.67% | 4.53% |
| **Invesco High Yield Fund (Class A) —excluding sales charge** | 6.11% | 3.58% | 4.99% |
| **Bloomberg U.S. Corporate High Yield 2% Issuer Cap Index** | 7.18% | 4.50% | 6.71% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1107344834 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;318 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$5938553 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;150% |

---

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

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;VanEck J. P. Morgan EM Local Currency Bond ETF | &nbsp;&nbsp;&nbsp;1.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;EZCORP, Inc., 7.38%, 04/01/2032 | &nbsp;&nbsp;&nbsp;0.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;VoltaGrid LLC, 7.38%, 11/01/2030 | &nbsp;&nbsp;&nbsp;0.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;New Gold, Inc., 6.88%, 04/01/2032 | &nbsp;&nbsp;&nbsp;0.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vodafone Group PLC, 4.13%, 06/04/2081 | &nbsp;&nbsp;&nbsp;0.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vistra Corp., Series C, 8.88% | &nbsp;&nbsp;&nbsp;0.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;Viking Cruises Ltd., 5.88%, 10/15/2033 | &nbsp;&nbsp;&nbsp;0.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;1261229 BC Ltd., 10.00%, 04/15/2032 | &nbsp;&nbsp;&nbsp;0.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;TransDigm, Inc., Term Loan L, 6.17%, 01/19/2032 | &nbsp;&nbsp;&nbsp;0.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;Hawaiian Electric Co., Inc., 6.00%, 10/01/2033 | &nbsp;&nbsp;&nbsp;0.74% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Security type allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994442.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

HYI-AR-A **Invesco High Yield Fund**

![TSR_logo](images_2685.jpg)

### Invesco High Yield Fund

### Class C: AHYCX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco High Yield Fund<br> (Class C) | $178 | 1.73% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended February 28, 2026, the corporate bond market benefited from a benign default environment, resilient consumers, interest rate cuts and solid earnings growth. Continued disinflation and resilient economic growth supporting corporate fundamentals, lead to tightening credit spreads despite US tariff uncertainty at the beginning of the period. Because the Fund holds predominantly corporate bonds, it benefited from this broader market environment.

 **•** For the fiscal year ended February, 28, 2026, Class C shares of the Fund, excluding sales charge, returned 5.62%. For the same time period, the Bloomberg U.S. Corporate High Yield 2% Issuer Cap Index (the "Benchmark") returned 7.18%.

#### What contributed to performance?
 **Wirelines and technology \|** Security selection within wirelines and technology positively impacted relative returns during the fiscal year.

 **Off-Benchmark corporate loans \|** Exposure to off-Benchmark corporate loans boosted overall Fund performance during the period.

#### What detracted from performance?
 **Retailers and leisure \|** Security selection within retailers and leisure was a key detractor from relative Fund performance during the fiscal year.

 **Media and entertainment \|** An underweight to the media and entertainment industries detracted from Fund performance during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994473.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco High Yield Fund (Class C) —including sales charge** | 4.62% | 2.86% | 4.39% |
| **Invesco High Yield Fund (Class C) —excluding sales charge** | 5.62% | 2.86% | 4.39% |
| **Bloomberg U.S. Corporate High Yield 2% Issuer Cap Index** | 7.18% | 4.50% | 6.71% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1107344834 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;318 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$5938553 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;150% |

---

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

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;VanEck J. P. Morgan EM Local Currency Bond ETF | &nbsp;&nbsp;&nbsp;1.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;EZCORP, Inc., 7.38%, 04/01/2032 | &nbsp;&nbsp;&nbsp;0.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;VoltaGrid LLC, 7.38%, 11/01/2030 | &nbsp;&nbsp;&nbsp;0.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;New Gold, Inc., 6.88%, 04/01/2032 | &nbsp;&nbsp;&nbsp;0.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vodafone Group PLC, 4.13%, 06/04/2081 | &nbsp;&nbsp;&nbsp;0.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vistra Corp., Series C, 8.88% | &nbsp;&nbsp;&nbsp;0.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;Viking Cruises Ltd., 5.88%, 10/15/2033 | &nbsp;&nbsp;&nbsp;0.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;1261229 BC Ltd., 10.00%, 04/15/2032 | &nbsp;&nbsp;&nbsp;0.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;TransDigm, Inc., Term Loan L, 6.17%, 01/19/2032 | &nbsp;&nbsp;&nbsp;0.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;Hawaiian Electric Co., Inc., 6.00%, 10/01/2033 | &nbsp;&nbsp;&nbsp;0.74% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Security type allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994478.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

HYI-AR-C **Invesco High Yield Fund**

![TSR_logo](images_2685.jpg)

### Invesco High Yield Fund

### Class Y: AHHYX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco High Yield Fund<br>(Class Y) | $75 | 0.73% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, the corporate bond market benefited from a benign default environment, resilient consumers, interest rate cuts and solid earnings growth. Continued disinflation and resilient economic growth supporting corporate fundamentals, lead to tightening credit spreads despite US tariff uncertainty at the beginning of the period. Because the Fund holds predominantly corporate bonds, it benefited from this broader market environment.

**•** For the fiscal year ended February, 28, 2026, Class Y shares of the Fund returned 6.38%. For the same time period, the Bloomberg U.S. Corporate High Yield 2% Issuer Cap Index (the "Benchmark") returned 7.18%.

#### What contributed to performance?
**Wirelines and technology \|** Security selection within wirelines and technology positively impacted relative returns during the fiscal year.

**Off-Benchmark corporate loans \|** Exposure to off-Benchmark corporate loans boosted overall Fund performance during the period.

#### What detracted from performance?
**Retailers and leisure \|** Security selection within retailers and leisure was a key detractor from relative Fund performance during the fiscal year.

**Media and entertainment \|** An underweight to the media and entertainment industries detracted from Fund performance during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994509.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco High Yield Fund (Class Y)** | 6.38% | 3.84% | 5.25% |
| **Bloomberg U.S. Corporate High Yield 2% Issuer Cap Index** | 7.18% | 4.50% | 6.71% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1107344834 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;318 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$5938553 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;150% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;VanEck J. P. Morgan EM Local Currency Bond ETF | &nbsp;&nbsp;&nbsp;1.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;EZCORP, Inc., 7.38%, 04/01/2032 | &nbsp;&nbsp;&nbsp;0.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;VoltaGrid LLC, 7.38%, 11/01/2030 | &nbsp;&nbsp;&nbsp;0.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;New Gold, Inc., 6.88%, 04/01/2032 | &nbsp;&nbsp;&nbsp;0.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vodafone Group PLC, 4.13%, 06/04/2081 | &nbsp;&nbsp;&nbsp;0.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vistra Corp., Series C, 8.88% | &nbsp;&nbsp;&nbsp;0.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;Viking Cruises Ltd., 5.88%, 10/15/2033 | &nbsp;&nbsp;&nbsp;0.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;1261229 BC Ltd., 10.00%, 04/15/2032 | &nbsp;&nbsp;&nbsp;0.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;TransDigm, Inc., Term Loan L, 6.17%, 01/19/2032 | &nbsp;&nbsp;&nbsp;0.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;Hawaiian Electric Co., Inc., 6.00%, 10/01/2033 | &nbsp;&nbsp;&nbsp;0.74% |
| \* Excluding money market fund holdings, if any. |  |

---

**Security type allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994514.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

HYI-AR-Y **Invesco High Yield Fund**

![TSR_logo](images_2685.jpg)

### Invesco High Yield Fund

### Investor Class: HYINX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco High Yield Fund<br>(Investor Class) | $101 | 0.98% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, the corporate bond market benefited from a benign default environment, resilient consumers, interest rate cuts and solid earnings growth. Continued disinflation and resilient economic growth supporting corporate fundamentals, lead to tightening credit spreads despite US tariff uncertainty at the beginning of the period. Because the Fund holds predominantly corporate bonds, it benefited from this broader market environment.

**•** For the fiscal year ended February, 28, 2026, Investor Class shares of the Fund returned 6.40%. For the same time period, the Bloomberg U.S. Corporate High Yield 2% Issuer Cap Index (the "Benchmark") returned 7.18%.

#### What contributed to performance?
**Wirelines and technology \|** Security selection within wirelines and technology positively impacted relative returns during the fiscal year.

**Off-Benchmark corporate loans \|** Exposure to off-Benchmark corporate loans boosted overall Fund performance during the period.

#### What detracted from performance?
**Retailers and leisure \|** Security selection within retailers and leisure was a key detractor from relative Fund performance during the fiscal year.

**Media and entertainment \|** An underweight to the media and entertainment industries detracted from Fund performance during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994545.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco High Yield Fund (Investor Class)** | 6.40% | 3.63% | 5.00% |
| **Bloomberg U.S. Corporate High Yield 2% Issuer Cap Index** | 7.18% | 4.50% | 6.71% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1107344834 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;318 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$5938553 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;150% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;VanEck J. P. Morgan EM Local Currency Bond ETF | &nbsp;&nbsp;&nbsp;1.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;EZCORP, Inc., 7.38%, 04/01/2032 | &nbsp;&nbsp;&nbsp;0.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;VoltaGrid LLC, 7.38%, 11/01/2030 | &nbsp;&nbsp;&nbsp;0.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;New Gold, Inc., 6.88%, 04/01/2032 | &nbsp;&nbsp;&nbsp;0.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vodafone Group PLC, 4.13%, 06/04/2081 | &nbsp;&nbsp;&nbsp;0.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vistra Corp., Series C, 8.88% | &nbsp;&nbsp;&nbsp;0.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;Viking Cruises Ltd., 5.88%, 10/15/2033 | &nbsp;&nbsp;&nbsp;0.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;1261229 BC Ltd., 10.00%, 04/15/2032 | &nbsp;&nbsp;&nbsp;0.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;TransDigm, Inc., Term Loan L, 6.17%, 01/19/2032 | &nbsp;&nbsp;&nbsp;0.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;Hawaiian Electric Co., Inc., 6.00%, 10/01/2033 | &nbsp;&nbsp;&nbsp;0.74% |
| \* Excluding money market fund holdings, if any. |  |

---

**Security type allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994550.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

HYI-AR-INV **Invesco High Yield Fund**

![TSR_logo](images_2685.jpg)

### Invesco High Yield Fund

### Class R5: AHIYX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco High Yield Fund<br>(Class R5) | $70 | 0.68% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, the corporate bond market benefited from a benign default environment, resilient consumers, interest rate cuts and solid earnings growth. Continued disinflation and resilient economic growth supporting corporate fundamentals, lead to tightening credit spreads despite US tariff uncertainty at the beginning of the period. Because the Fund holds predominantly corporate bonds, it benefited from this broader market environment.

**•** For the fiscal year ended February, 28, 2026, Class R5 shares of the Fund returned 6.42%. For the same time period, the Bloomberg U.S. Corporate High Yield 2% Issuer Cap Index (the "Benchmark") returned 7.18%.

#### What contributed to performance?
**Wirelines and technology \|** Security selection within wirelines and technology positively impacted relative returns during the fiscal year.

**Off-Benchmark corporate loans \|** Exposure to off-Benchmark corporate loans boosted overall Fund performance during the period.

#### What detracted from performance?
**Retailers and leisure \|** Security selection within retailers and leisure was a key detractor from relative Fund performance during the fiscal year.

**Media and entertainment \|** An underweight to the media and entertainment industries detracted from Fund performance during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994581.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco High Yield Fund (Class R5)** | 6.42% | 3.94% | 5.33% |
| **Bloomberg U.S. Corporate High Yield 2% Issuer Cap Index** | 7.18% | 4.50% | 6.71% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1107344834 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;318 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$5938553 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;150% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;VanEck J. P. Morgan EM Local Currency Bond ETF | &nbsp;&nbsp;&nbsp;1.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;EZCORP, Inc., 7.38%, 04/01/2032 | &nbsp;&nbsp;&nbsp;0.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;VoltaGrid LLC, 7.38%, 11/01/2030 | &nbsp;&nbsp;&nbsp;0.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;New Gold, Inc., 6.88%, 04/01/2032 | &nbsp;&nbsp;&nbsp;0.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vodafone Group PLC, 4.13%, 06/04/2081 | &nbsp;&nbsp;&nbsp;0.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vistra Corp., Series C, 8.88% | &nbsp;&nbsp;&nbsp;0.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;Viking Cruises Ltd., 5.88%, 10/15/2033 | &nbsp;&nbsp;&nbsp;0.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;1261229 BC Ltd., 10.00%, 04/15/2032 | &nbsp;&nbsp;&nbsp;0.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;TransDigm, Inc., Term Loan L, 6.17%, 01/19/2032 | &nbsp;&nbsp;&nbsp;0.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;Hawaiian Electric Co., Inc., 6.00%, 10/01/2033 | &nbsp;&nbsp;&nbsp;0.74% |
| \* Excluding money market fund holdings, if any. |  |

---

**Security type allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994586.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

HYI-AR-R5 **Invesco High Yield Fund**

![TSR_logo](images_2685.jpg)

### Invesco High Yield Fund

### Class R6: HYIFX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco High Yield Fund<br>(Class R6) | $64 | 0.62% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, the corporate bond market benefited from a benign default environment, resilient consumers, interest rate cuts and solid earnings growth. Continued disinflation and resilient economic growth supporting corporate fundamentals, lead to tightening credit spreads despite US tariff uncertainty at the beginning of the period. Because the Fund holds predominantly corporate bonds, it benefited from this broader market environment.

**•** For the fiscal year ended February, 28, 2026, Class R6 shares of the Fund returned 6.48%. For the same time period, the Bloomberg U.S. Corporate High Yield 2% Issuer Cap Index (the "Benchmark") returned 7.18%.

#### What contributed to performance?
**Wirelines and technology \|** Security selection within wirelines and technology positively impacted relative returns during the fiscal year.

**Off-Benchmark corporate loans \|** Exposure to off-Benchmark corporate loans boosted overall Fund performance during the period.

#### What detracted from performance?
**Retailers and leisure \|** Security selection within retailers and leisure was a key detractor from relative Fund performance during the fiscal year.

**Media and entertainment \|** An underweight to the media and entertainment industries detracted from Fund performance during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994617.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco High Yield Fund (Class R6)** | 6.48% | 4.02% | 5.43% |
| **Bloomberg U.S. Corporate High Yield 2% Issuer Cap Index** | 7.18% | 4.50% | 6.71% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1107344834 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;318 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$5938553 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;150% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;VanEck J. P. Morgan EM Local Currency Bond ETF | &nbsp;&nbsp;&nbsp;1.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;EZCORP, Inc., 7.38%, 04/01/2032 | &nbsp;&nbsp;&nbsp;0.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;VoltaGrid LLC, 7.38%, 11/01/2030 | &nbsp;&nbsp;&nbsp;0.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;New Gold, Inc., 6.88%, 04/01/2032 | &nbsp;&nbsp;&nbsp;0.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vodafone Group PLC, 4.13%, 06/04/2081 | &nbsp;&nbsp;&nbsp;0.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vistra Corp., Series C, 8.88% | &nbsp;&nbsp;&nbsp;0.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;Viking Cruises Ltd., 5.88%, 10/15/2033 | &nbsp;&nbsp;&nbsp;0.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;1261229 BC Ltd., 10.00%, 04/15/2032 | &nbsp;&nbsp;&nbsp;0.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;TransDigm, Inc., Term Loan L, 6.17%, 01/19/2032 | &nbsp;&nbsp;&nbsp;0.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;Hawaiian Electric Co., Inc., 6.00%, 10/01/2033 | &nbsp;&nbsp;&nbsp;0.74% |
| \* Excluding money market fund holdings, if any. |  |

---

**Security type allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994622.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

HYI-AR-R6 **Invesco High Yield Fund**

![TSR_logo](images_2685.jpg)

### Invesco Income Fund

### Class A: AGOVX

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

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Income Fund<br>(Class A) | $1041.01%<sup>†</sup> |

---

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

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, the Fund achieved a positive return. Short and intermediate-term US Treasury yields fell, contributing to the Fund's success. Non-Treasury sectors also performed well, supported by a generally strong economic backdrop throughout the fiscal year.

**•** For the fiscal year ended February 28, 2026, Class A shares of the Fund, excluding sales charge, returned 6.55%. For the same time period, the Bloomberg U.S. Securitized: MBS/ABS/CMBS Index (the "Benchmark") returned 7.49%.

#### What contributed to performance?
**Non-agency mortgage-backed securities (MBS), commercial mortgage-backed securities (CMBS), asset-backed securities (ABS) \|** Non-agency MBS, CMBS, and ABS performed well during the fiscal year due to attractive starting yields and relatively strong economic performance in 2025, which caused market participants to bid up these assets relative to US Treasuries.

#### What detracted from performance?
**Corporates \|** Corporate exposure detracted from Fund performance. The Fund's underweight allocation to corporate bonds meant it captured less of the positive sector performance, resulting in a relative shortfall versus the Benchmark.

**Duration and Yield Curve Positioning \|** Duration modestly detracted from Fund performance. The Fund's duration and yield-curve positioning limited its participation in the rally that followed the decline in interest rates.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9995301.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Income Fund (Class A) —including sales charge** | 2.05% | 1.52% | 1.06% |
| **Invesco Income Fund (Class A) —excluding sales charge** | 6.55% | 2.40% | 1.50% |
| **Bloomberg U.S. Securitized: MBS/ABS/CMBS Index** | 7.49% | 0.75% | 1.71% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$274385217 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;223 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$1272996 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;219% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 2.00%, 03/01/2056 | &nbsp;&nbsp;&nbsp;5.10% |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 3.50%, 02/15/2029 | &nbsp;&nbsp;&nbsp;4.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 5.00%, 04/01/2056 | &nbsp;&nbsp;&nbsp;3.95% |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 2.50%, 03/01/2056 | &nbsp;&nbsp;&nbsp;3.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 5.50%, 04/01/2056 | &nbsp;&nbsp;&nbsp;2.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniform Mortgage-Backed Securities, TBA, 2.50%, 03/01/2056 | &nbsp;&nbsp;&nbsp;2.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp., 5.50%, 05/01/2053 | &nbsp;&nbsp;&nbsp;2.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniform Mortgage-Backed Securities, TBA, 3.00%, 03/01/2056 | &nbsp;&nbsp;&nbsp;1.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniform Mortgage-Backed Securities, TBA, 3.50%, 03/01/2056 | &nbsp;&nbsp;&nbsp;1.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;OBX Trust, Series 2022-NQM7, Class A1, 5.11%, 08/25/2062 | &nbsp;&nbsp;&nbsp;1.54% |
| \* Excluding money market fund holdings, if any. |  |

---

**Security type allocation** 

**(% of total investments)**

![Graphical Representation - Allocation 1 Chart](chartimages_9995306.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

INC-AR-A **Invesco Income Fund**

![TSR_logo](images_2685.jpg)

### Invesco Income Fund

### Class C: AGVCX

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

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Income Fund<br>(Class C) | $1811.76%<sup>†</sup> |

---

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

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, the Fund achieved a positive return. Short and intermediate-term US Treasury yields fell, contributing to the Fund's success. Non-Treasury sectors also performed well, supported by a generally strong economic backdrop throughout the fiscal year.

**•** For the fiscal year ended February 28, 2026, Class C shares of the Fund, excluding sales charge, returned 5.75%. For the same time period, the Bloomberg U.S. Securitized: MBS/ABS/CMBS Index (the "Benchmark") returned 7.49%.

#### What contributed to performance?
**Non-agency mortgage-backed securities (MBS), commercial mortgage-backed securities (CMBS), asset-backed securities (ABS) \|** Non-agency MBS, CMBS, and ABS performed well during the fiscal year due to attractive starting yields and relatively strong economic performance in 2025, which caused market participants to bid up these assets relative to US Treasuries.

#### What detracted from performance?
**Corporates \|** Corporate exposure detracted from Fund performance. The Fund's underweight allocation to corporate bonds meant it captured less of the positive sector performance, resulting in a relative shortfall versus the Benchmark.

**Duration and Yield Curve Positioning \|** Duration modestly detracted from Fund performance. The Fund's duration and yield-curve positioning limited its participation in the rally that followed the decline in interest rates.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9995337.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Income Fund (Class C) —including sales charge** | 4.75% | 1.64% | 0.90% |
| **Invesco Income Fund (Class C) —excluding sales charge** | 5.75% | 1.64% | 0.90% |
| **Bloomberg U.S. Securitized: MBS/ABS/CMBS Index** | 7.49% | 0.75% | 1.71% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$274385217 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;223 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$1272996 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;219% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 2.00%, 03/01/2056 | &nbsp;&nbsp;&nbsp;5.10% |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 3.50%, 02/15/2029 | &nbsp;&nbsp;&nbsp;4.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 5.00%, 04/01/2056 | &nbsp;&nbsp;&nbsp;3.95% |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 2.50%, 03/01/2056 | &nbsp;&nbsp;&nbsp;3.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 5.50%, 04/01/2056 | &nbsp;&nbsp;&nbsp;2.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniform Mortgage-Backed Securities, TBA, 2.50%, 03/01/2056 | &nbsp;&nbsp;&nbsp;2.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp., 5.50%, 05/01/2053 | &nbsp;&nbsp;&nbsp;2.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniform Mortgage-Backed Securities, TBA, 3.00%, 03/01/2056 | &nbsp;&nbsp;&nbsp;1.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniform Mortgage-Backed Securities, TBA, 3.50%, 03/01/2056 | &nbsp;&nbsp;&nbsp;1.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;OBX Trust, Series 2022-NQM7, Class A1, 5.11%, 08/25/2062 | &nbsp;&nbsp;&nbsp;1.54% |
| \* Excluding money market fund holdings, if any. |  |

---

**Security type allocation** 

**(% of total investments)**

![Graphical Representation - Allocation 1 Chart](chartimages_9995342.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

INC-AR-C **Invesco Income Fund**

![TSR_logo](images_2685.jpg)

### Invesco Income Fund

### Class R: AGVRX

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

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Income Fund<br> (Class R) | $1301.26%<sup>†</sup> |

---

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

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended February 28, 2026, the Fund achieved a positive return. Short and intermediate-term US Treasury yields fell, contributing to the Fund's success. Non-Treasury sectors also performed well, supported by a generally strong economic backdrop throughout the fiscal year.

 **•** For the fiscal year ended February 28, 2026, Class R shares of the Fund returned 6.28%. For the same time period, the Bloomberg U.S. Securitized: MBS/ABS/CMBS Index (the "Benchmark") returned 7.49%.

#### What contributed to performance?
 **Non-agency mortgage-backed securities (MBS), commercial mortgage-backed securities (CMBS), asset-backed securities (ABS) \|** Non-agency MBS, CMBS, and ABS performed well during the fiscal year due to attractive starting yields and relatively strong economic performance in 2025, which caused market participants to bid up these assets relative to US Treasuries.

#### What detracted from performance?
 **Corporates \|** Corporate exposure detracted from Fund performance. The Fund's underweight allocation to corporate bonds meant it captured less of the positive sector performance, resulting in a relative shortfall versus the Benchmark.

 **Duration and Yield Curve Positioning \|** Duration modestly detracted from Fund performance. The Fund's duration and yield-curve positioning limited its participation in the rally that followed the decline in interest rates.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9995373.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Income Fund (Class R)** | 6.28% | 2.13% | 1.23% |
| **Bloomberg U.S. Securitized: MBS/ABS/CMBS Index** | 7.49% | 0.75% | 1.71% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$274385217 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;223 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$1272996 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;219% |

---

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

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 2.00%, 03/01/2056 | &nbsp;&nbsp;&nbsp;5.10% |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 3.50%, 02/15/2029 | &nbsp;&nbsp;&nbsp;4.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 5.00%, 04/01/2056 | &nbsp;&nbsp;&nbsp;3.95% |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 2.50%, 03/01/2056 | &nbsp;&nbsp;&nbsp;3.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 5.50%, 04/01/2056 | &nbsp;&nbsp;&nbsp;2.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniform Mortgage-Backed Securities, TBA, 2.50%, 03/01/2056 | &nbsp;&nbsp;&nbsp;2.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp., 5.50%, 05/01/2053 | &nbsp;&nbsp;&nbsp;2.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniform Mortgage-Backed Securities, TBA, 3.00%, 03/01/2056 | &nbsp;&nbsp;&nbsp;1.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniform Mortgage-Backed Securities, TBA, 3.50%, 03/01/2056 | &nbsp;&nbsp;&nbsp;1.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;OBX Trust, Series 2022-NQM7, Class A1, 5.11%, 08/25/2062 | &nbsp;&nbsp;&nbsp;1.54% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Security type allocation** 

 **(% of total investments)**

![Graphical Representation - Allocation 1 Chart](chartimages_9995378.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

INC-AR-R **Invesco Income Fund**

![TSR_logo](images_2685.jpg)

### Invesco Income Fund

### Class Y: AGVYX

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

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Income Fund<br> (Class Y) | $790.76%<sup>†</sup> |

---

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

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended February 28, 2026, the Fund achieved a positive return. Short and intermediate-term US Treasury yields fell, contributing to the Fund's success. Non-Treasury sectors also performed well, supported by a generally strong economic backdrop throughout the fiscal year.

 **•** For the fiscal year ended February 28, 2026, Class Y shares of the Fund returned 6.81%. For the same time period, the Bloomberg U.S. Securitized: MBS/ABS/CMBS Index (the "Benchmark") returned 7.49%.

#### What contributed to performance?
 **Non-agency mortgage-backed securities (MBS), commercial mortgage-backed securities (CMBS), asset-backed securities (ABS) \|** Non-agency MBS, CMBS, and ABS performed well during the fiscal year due to attractive starting yields and relatively strong economic performance in 2025, which caused market participants to bid up these assets relative to US Treasuries.

#### What detracted from performance?
 **Corporates \|** Corporate exposure detracted from Fund performance. The Fund's underweight allocation to corporate bonds meant it captured less of the positive sector performance, resulting in a relative shortfall versus the Benchmark.

 **Duration and Yield Curve Positioning \|** Duration modestly detracted from Fund performance. The Fund's duration and yield-curve positioning limited its participation in the rally that followed the decline in interest rates.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9995409.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Income Fund (Class Y)** | 6.81% | 2.66% | 1.74% |
| **Bloomberg U.S. Securitized: MBS/ABS/CMBS Index** | 7.49% | 0.75% | 1.71% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$274385217 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;223 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$1272996 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;219% |

---

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

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 2.00%, 03/01/2056 | &nbsp;&nbsp;&nbsp;5.10% |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 3.50%, 02/15/2029 | &nbsp;&nbsp;&nbsp;4.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 5.00%, 04/01/2056 | &nbsp;&nbsp;&nbsp;3.95% |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 2.50%, 03/01/2056 | &nbsp;&nbsp;&nbsp;3.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 5.50%, 04/01/2056 | &nbsp;&nbsp;&nbsp;2.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniform Mortgage-Backed Securities, TBA, 2.50%, 03/01/2056 | &nbsp;&nbsp;&nbsp;2.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp., 5.50%, 05/01/2053 | &nbsp;&nbsp;&nbsp;2.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniform Mortgage-Backed Securities, TBA, 3.00%, 03/01/2056 | &nbsp;&nbsp;&nbsp;1.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniform Mortgage-Backed Securities, TBA, 3.50%, 03/01/2056 | &nbsp;&nbsp;&nbsp;1.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;OBX Trust, Series 2022-NQM7, Class A1, 5.11%, 08/25/2062 | &nbsp;&nbsp;&nbsp;1.54% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Security type allocation** 

 **(% of total investments)**

![Graphical Representation - Allocation 1 Chart](chartimages_9995414.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

INC-AR-Y **Invesco Income Fund**

![TSR_logo](images_2685.jpg)

### Invesco Income Fund

### Class R5: AGOIX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Income Fund<br> (Class R5) | $72 | 0.70% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended February 28, 2026, the Fund achieved a positive return. Short and intermediate-term US Treasury yields fell, contributing to the Fund's success. Non-Treasury sectors also performed well, supported by a generally strong economic backdrop throughout the fiscal year.

 **•** For the fiscal year ended February 28, 2026, Class R5 shares of the Fund returned 6.88%. For the same time period, the Bloomberg U.S. Securitized: MBS/ABS/CMBS Index (the "Benchmark") returned 7.49%.

#### What contributed to performance?
 **Non-agency mortgage-backed securities (MBS), commercial mortgage-backed securities (CMBS), asset-backed securities (ABS) \|** Non-agency MBS, CMBS, and ABS performed well during the fiscal year due to attractive starting yields and relatively strong economic performance in 2025, which caused market participants to bid up these assets relative to US Treasuries.

#### What detracted from performance?
 **Corporates \|** Corporate exposure detracted from Fund performance. The Fund's underweight allocation to corporate bonds meant it captured less of the positive sector performance, resulting in a relative shortfall versus the Benchmark.

 **Duration and Yield Curve Positioning \|** Duration modestly detracted from Fund performance. The Fund's duration and yield-curve positioning limited its participation in the rally that followed the decline in interest rates.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9995481.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Income Fund (Class R5)** | 6.88% | 2.74% | 1.83% |
| **Bloomberg U.S. Securitized: MBS/ABS/CMBS Index** | 7.49% | 0.75% | 1.71% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$274385217 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;223 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$1272996 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;219% |

---

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

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 2.00%, 03/01/2056 | &nbsp;&nbsp;&nbsp;5.10% |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 3.50%, 02/15/2029 | &nbsp;&nbsp;&nbsp;4.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 5.00%, 04/01/2056 | &nbsp;&nbsp;&nbsp;3.95% |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 2.50%, 03/01/2056 | &nbsp;&nbsp;&nbsp;3.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 5.50%, 04/01/2056 | &nbsp;&nbsp;&nbsp;2.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniform Mortgage-Backed Securities, TBA, 2.50%, 03/01/2056 | &nbsp;&nbsp;&nbsp;2.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp., 5.50%, 05/01/2053 | &nbsp;&nbsp;&nbsp;2.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniform Mortgage-Backed Securities, TBA, 3.00%, 03/01/2056 | &nbsp;&nbsp;&nbsp;1.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniform Mortgage-Backed Securities, TBA, 3.50%, 03/01/2056 | &nbsp;&nbsp;&nbsp;1.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;OBX Trust, Series 2022-NQM7, Class A1, 5.11%, 08/25/2062 | &nbsp;&nbsp;&nbsp;1.54% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Security type allocation** 

 **(% of total investments)**

![Graphical Representation - Allocation 1 Chart](chartimages_9995486.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

INC-AR-R5 **Invesco Income Fund**

![TSR_logo](images_2685.jpg)

### Invesco Income Fund

### Class R6: AGVSX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Income Fund<br> (Class R6) | $64 | 0.62% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended February 28, 2026, the Fund achieved a positive return. Short and intermediate-term US Treasury yields fell, contributing to the Fund's success. Non-Treasury sectors also performed well, supported by a generally strong economic backdrop throughout the fiscal year.

 **•** For the fiscal year ended February 28, 2026, Class R6 shares of the Fund returned 6.95%. For the same time period, the Bloomberg U.S. Securitized: MBS/ABS/CMBS Index (the "Benchmark") returned 7.49%.

#### What contributed to performance?
 **Non-agency mortgage-backed securities (MBS), commercial mortgage-backed securities (CMBS), asset-backed securities (ABS) \|** Non-agency MBS, CMBS, and ABS performed well during the fiscal year due to attractive starting yields and relatively strong economic performance in 2025, which caused market participants to bid up these assets relative to US Treasuries.

#### What detracted from performance?
 **Corporates \|** Corporate exposure detracted from Fund performance. The Fund's underweight allocation to corporate bonds meant it captured less of the positive sector performance, resulting in a relative shortfall versus the Benchmark.

 **Duration and Yield Curve Positioning \|** Duration modestly detracted from Fund performance. The Fund's duration and yield-curve positioning limited its participation in the rally that followed the decline in interest rates.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9995517.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Income Fund (Class R6)** | 6.95% | 2.88% | 1.86% |
| **Bloomberg U.S. Securitized: MBS/ABS/CMBS Index** | 7.49% | 0.75% | 1.71% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

Class R6 shares incepted on April 4, 2017. Performance shown prior to that date is that of Class A shares at net asset value and includes the 12b-1 fees applicable to Class A shares. Class R6 shares' returns of the Fund will be different from Class A shares' returns of the Fund as they have different expenses.

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$274385217 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;223 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$1272996 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;219% |

---

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

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 2.00%, 03/01/2056 | &nbsp;&nbsp;&nbsp;5.10% |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 3.50%, 02/15/2029 | &nbsp;&nbsp;&nbsp;4.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 5.00%, 04/01/2056 | &nbsp;&nbsp;&nbsp;3.95% |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 2.50%, 03/01/2056 | &nbsp;&nbsp;&nbsp;3.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 5.50%, 04/01/2056 | &nbsp;&nbsp;&nbsp;2.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniform Mortgage-Backed Securities, TBA, 2.50%, 03/01/2056 | &nbsp;&nbsp;&nbsp;2.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp., 5.50%, 05/01/2053 | &nbsp;&nbsp;&nbsp;2.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniform Mortgage-Backed Securities, TBA, 3.00%, 03/01/2056 | &nbsp;&nbsp;&nbsp;1.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniform Mortgage-Backed Securities, TBA, 3.50%, 03/01/2056 | &nbsp;&nbsp;&nbsp;1.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;OBX Trust, Series 2022-NQM7, Class A1, 5.11%, 08/25/2062 | &nbsp;&nbsp;&nbsp;1.54% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Security type allocation** 

 **(% of total investments)**

![Graphical Representation - Allocation 1 Chart](chartimages_9995522.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

INC-AR-R6 **Invesco Income Fund**

![TSR_logo](images_2685.jpg)

### Invesco Income Fund

### Investor Class: AGIVX

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

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Income Fund<br> (Investor Class) | $970.94%<sup>†</sup> |

---

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

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended February 28, 2026, the Fund achieved a positive return. Short and intermediate-term US Treasury yields fell, contributing to the Fund's success. Non-Treasury sectors also performed well, supported by a generally strong economic backdrop throughout the fiscal year.

 **•** For the fiscal year ended February 28, 2026, Investor Class shares of the Fund returned 6.63%. For the same time period, the Bloomberg U.S. Securitized: MBS/ABS/CMBS Index (the "Benchmark") returned 7.49%.

#### What contributed to performance?
 **Non-agency mortgage-backed securities (MBS), commercial mortgage-backed securities (CMBS), asset-backed securities (ABS) \|** Non-agency MBS, CMBS, and ABS performed well during the fiscal year due to attractive starting yields and relatively strong economic performance in 2025, which caused market participants to bid up these assets relative to US Treasuries.

#### What detracted from performance?
 **Corporates \|** Corporate exposure detracted from Fund performance. The Fund's underweight allocation to corporate bonds meant it captured less of the positive sector performance, resulting in a relative shortfall versus the Benchmark.

 **Duration and Yield Curve Positioning \|** Duration modestly detracted from Fund performance. The Fund's duration and yield-curve positioning limited its participation in the rally that followed the decline in interest rates.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9995445.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Income Fund (Investor Class)** | 6.63% | 2.48% | 1.56% |
| **Bloomberg U.S. Securitized: MBS/ABS/CMBS Index** | 7.49% | 0.75% | 1.71% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$274385217 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;223 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$1272996 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;219% |

---

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

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 2.00%, 03/01/2056 | &nbsp;&nbsp;&nbsp;5.10% |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 3.50%, 02/15/2029 | &nbsp;&nbsp;&nbsp;4.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 5.00%, 04/01/2056 | &nbsp;&nbsp;&nbsp;3.95% |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 2.50%, 03/01/2056 | &nbsp;&nbsp;&nbsp;3.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, TBA, 5.50%, 04/01/2056 | &nbsp;&nbsp;&nbsp;2.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniform Mortgage-Backed Securities, TBA, 2.50%, 03/01/2056 | &nbsp;&nbsp;&nbsp;2.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp., 5.50%, 05/01/2053 | &nbsp;&nbsp;&nbsp;2.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniform Mortgage-Backed Securities, TBA, 3.00%, 03/01/2056 | &nbsp;&nbsp;&nbsp;1.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniform Mortgage-Backed Securities, TBA, 3.50%, 03/01/2056 | &nbsp;&nbsp;&nbsp;1.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;OBX Trust, Series 2022-NQM7, Class A1, 5.11%, 08/25/2062 | &nbsp;&nbsp;&nbsp;1.54% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Security type allocation** 

 **(% of total investments)**

![Graphical Representation - Allocation 1 Chart](chartimages_9995450.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

INC-AR-INV **Invesco Income Fund**

![TSR_logo](images_2685.jpg)

### Invesco Real Estate Fund

### Class A: IARAX

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

#### This report describes changes to the Fund that occurred during the reporting period.

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Real Estate Fund<br> (Class A) | $1491.46%<sup>†</sup> |

---

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

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended February 28, 2026, real estate markets were shaped by elevated tariffs that softened Gross Domestic Product growth and pressured consumer confidence. A softening labor market and rising political scrutiny of institutional single family ownership also impacted real estate markets. Easing inflation and expectations for Federal Reserve interest rate cuts improved financing conditions, while resilient demand supported fundamentals across industrial, data center, and senior housing Real Estate Investment Trusts (REITs).

 **•** For the fiscal year ended February 28, 2026, Class A shares of the Fund, excluding sales charge, returned 4.77%. For the same time period, the FTSE Nareit All Equity REITs Index (the "Benchmark") returned 7.41%. The Fund underperformed the Benchmark primarily due to sector allocation during a period of extreme sector return variability particularly among telecom and residential REITs. These results were partially offset by stock selection among healthcare and industrial REITs.

#### What contributed to performance?
 **Healthcare \|** Healthcare REIT, American Healthcare, which focuses on senior housing raised earnings guidance and announced the completion of almost $1 billion in acquisitions in 2025, was a top contributor during the period.

 **Industrial \|** Stock selection within industrial REITs contributed to the Fund's relative performance. This sector experienced volatility early in the period due to trade wars but began showing signs of stabilization and better leasing activity later in the period.

#### What detracted from performance?
 **Residential \|** UDR, an apartment REIT held by the Fund, experienced decreased net income from deteriorating pricing power due to increased supply and increasing operating costs which detracted from Fund performance.

 **Telecom \|** An overweight to telecommunication REITs detracted from Fund performance as the sector reset guidance due to reduced near-term leasing visibility.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994653.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Real Estate Fund (Class A) —including sales charge** | -1.01% | 3.36% | 4.67% |
| **Invesco Real Estate Fund (Class A) —excluding sales charge** | 4.77% | 4.54% | 5.26% |
| **FTSE Nareit All Equity REITs Index** | 7.41% | 6.41% | 7.26% |
| **S&P 500<sup>®</sup> Index** | 16.99% | 14.19% | 15.50% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$696737705 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;38 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$5309096 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;63% |

---

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

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Welltower, Inc. | &nbsp;&nbsp;&nbsp;9.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;7.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;6.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;5.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp;&nbsp;5.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;5.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. | &nbsp;&nbsp;&nbsp;4.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;Crown Castle, Inc. | &nbsp;&nbsp;&nbsp;3.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;W.P. Carey, Inc. | &nbsp;&nbsp;&nbsp;3.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;First Industrial Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;3.38% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Property type** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994658.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since February 28, 2025. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

Effective June 27, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, no longer provides day-to-day management of the Fund.

At a meeting held on August 19, 2025, Fund shareholders approved changing the Fund's sub-classification under the Investment Company Act of 1940, as amended ("1940 Act"), from "diversified" to "non-diversified" and eliminating a related fundamental investment restrictions, and therefore the Fund is not required to meet certain diversification requirements under the 1940 Act.

The Fund's net expense ratio increased from the prior fiscal year end as a result of a change in operating expenses.

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

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

![TSR_QRcode](images_2684.jpg)

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

REA-AR-A **Invesco Real Estate Fund**

![TSR_logo](images_2685.jpg)

### Invesco Real Estate Fund

### Class C: IARCX

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

#### This report describes changes to the Fund that occurred during the reporting period.

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Real Estate Fund<br>(Class C) | $2252.21%<sup>†</sup> |

---

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

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, real estate markets were shaped by elevated tariffs that softened Gross Domestic Product growth and pressured consumer confidence. A softening labor market and rising political scrutiny of institutional single family ownership also impacted real estate markets. Easing inflation and expectations for Federal Reserve interest rate cuts improved financing conditions, while resilient demand supported fundamentals across industrial, data center, and senior housing Real Estate Investment Trusts (REITs).

**•** For the fiscal year ended February 28, 2026, Class C shares of the Fund, excluding sales charge, returned 3.99%. For the same time period, the FTSE Nareit All Equity REITs Index (the "Benchmark") returned 7.41%. The Fund underperformed the Benchmark primarily due to sector allocation during a period of extreme sector return variability particularly among telecom and residential REITs. These results were partially offset by stock selection among healthcare and industrial REITs.

#### What contributed to performance?
**Healthcare \|** Healthcare REIT, American Healthcare, which focuses on senior housing raised earnings guidance and announced the completion of almost $1 billion in acquisitions in 2025, was a top contributor during the period.

**Industrial \|** Stock selection within industrial REITs contributed to the Fund's relative performance. This sector experienced volatility early in the period due to trade wars but began showing signs of stabilization and better leasing activity later in the period.

#### What detracted from performance?
**Residential \|** UDR, an apartment REIT held by the Fund, experienced decreased net income from deteriorating pricing power due to increased supply and increasing operating costs which detracted from Fund performance.

**Telecom \|** An overweight to telecommunication REITs detracted from Fund performance as the sector reset guidance due to reduced near-term leasing visibility.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994689.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Real Estate Fund (Class C) —including sales charge** | 3.00% | 3.78% | 4.64% |
| **Invesco Real Estate Fund (Class C) —excluding sales charge** | 3.99% | 3.78% | 4.64% |
| **FTSE Nareit All Equity REITs Index** | 7.41% | 6.41% | 7.26% |
| **S&P 500<sup>®</sup> Index** | 16.99% | 14.19% | 15.50% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$696737705 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;38 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$5309096 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;63% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Welltower, Inc. | &nbsp;&nbsp;&nbsp;9.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;7.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;6.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;5.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp;&nbsp;5.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;5.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. | &nbsp;&nbsp;&nbsp;4.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;Crown Castle, Inc. | &nbsp;&nbsp;&nbsp;3.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;W.P. Carey, Inc. | &nbsp;&nbsp;&nbsp;3.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;First Industrial Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;3.38% |
| \* Excluding money market fund holdings, if any. |  |

---

**Property type** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994694.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since February 28, 2025. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

Effective June 27, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, no longer provides day-to-day management of the Fund.

At a meeting held on August 19, 2025, Fund shareholders approved changing the Fund's sub-classification under the Investment Company Act of 1940, as amended ("1940 Act"), from "diversified" to "non-diversified" and eliminating a related fundamental investment restrictions, and therefore the Fund is not required to meet certain diversification requirements under the 1940 Act.

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

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

![TSR_QRcode](images_2684.jpg)

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

REA-AR-C **Invesco Real Estate Fund**

![TSR_logo](images_2685.jpg)

### Invesco Real Estate Fund

### Class R: IARRX

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

#### This report describes changes to the Fund that occurred during the reporting period.

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Real Estate Fund<br>(Class R) | $1751.71%<sup>†</sup> |

---

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

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, real estate markets were shaped by elevated tariffs that softened Gross Domestic Product growth and pressured consumer confidence. A softening labor market and rising political scrutiny of institutional single family ownership also impacted real estate markets. Easing inflation and expectations for Federal Reserve interest rate cuts improved financing conditions, while resilient demand supported fundamentals across industrial, data center, and senior housing Real Estate Investment Trusts (REITs).

**•** For the fiscal year ended February 28, 2026, Class R shares of the Fund returned 4.50%. For the same time period, the FTSE Nareit All Equity REITs Index (the "Benchmark") returned 7.41%. The Fund underperformed the Benchmark primarily due to sector allocation during a period of extreme sector return variability particularly among telecom and residential REITs. These results were partially offset by stock selection among healthcare and industrial REITs.

#### What contributed to performance?
**Healthcare \|** Healthcare REIT, American Healthcare, which focuses on senior housing raised earnings guidance and announced the completion of almost $1 billion in acquisitions in 2025, was a top contributor during the period.

**Industrial \|** Stock selection within industrial REITs contributed to the Fund's relative performance. This sector experienced volatility early in the period due to trade wars but began showing signs of stabilization and better leasing activity later in the period.

#### What detracted from performance?
**Residential \|** UDR, an apartment REIT held by the Fund, experienced decreased net income from deteriorating pricing power due to increased supply and increasing operating costs which detracted from Fund performance.

**Telecom \|** An overweight to telecommunication REITs detracted from Fund performance as the sector reset guidance due to reduced near-term leasing visibility.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994725.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Real Estate Fund (Class R)** | 4.50% | 4.28% | 5.00% |
| **FTSE Nareit All Equity REITs Index** | 7.41% | 6.41% | 7.26% |
| **S&P 500<sup>®</sup> Index** | 16.99% | 14.19% | 15.50% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$696737705 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;38 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$5309096 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;63% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Welltower, Inc. | &nbsp;&nbsp;&nbsp;9.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;7.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;6.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;5.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp;&nbsp;5.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;5.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. | &nbsp;&nbsp;&nbsp;4.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;Crown Castle, Inc. | &nbsp;&nbsp;&nbsp;3.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;W.P. Carey, Inc. | &nbsp;&nbsp;&nbsp;3.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;First Industrial Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;3.38% |
| \* Excluding money market fund holdings, if any. |  |

---

**Property type** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994730.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since February 28, 2025. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

Effective June 27, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, no longer provides day-to-day management of the Fund.

At a meeting held on August 19, 2025, Fund shareholders approved changing the Fund's sub-classification under the Investment Company Act of 1940, as amended ("1940 Act"), from "diversified" to "non-diversified" and eliminating a related fundamental investment restrictions, and therefore the Fund is not required to meet certain diversification requirements under the 1940 Act.

The Fund's net expense ratio increased from the prior fiscal year end as a result of a change in operating expenses.

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

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

![TSR_QRcode](images_2684.jpg)

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

REA-AR-R **Invesco Real Estate Fund**

![TSR_logo](images_2685.jpg)

### Invesco Real Estate Fund

### Class Y: IARYX

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

#### This report describes changes to the Fund that occurred during the reporting period.

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Real Estate Fund<br>(Class Y) | $1241.21%<sup>†</sup> |

---

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

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, real estate markets were shaped by elevated tariffs that softened Gross Domestic Product growth and pressured consumer confidence. A softening labor market and rising political scrutiny of institutional single family ownership also impacted real estate markets. Easing inflation and expectations for Federal Reserve interest rate cuts improved financing conditions, while resilient demand supported fundamentals across industrial, data center, and senior housing Real Estate Investment Trusts (REITs).

**•** For the fiscal year ended February 28, 2026, Class Y shares of the Fund returned 5.05%. For the same time period, the FTSE Nareit All Equity REITs Index (the "Benchmark") returned 7.41%. The Fund underperformed the Benchmark primarily due to sector allocation during a period of extreme sector return variability particularly among telecom and residential REITs. These results were partially offset by stock selection among healthcare and industrial REITs.

#### What contributed to performance?
**Healthcare \|** Healthcare REIT, American Healthcare, which focuses on senior housing raised earnings guidance and announced the completion of almost $1 billion in acquisitions in 2025, was a top contributor during the period.

**Industrial \|** Stock selection within industrial REITs contributed to the Fund's relative performance. This sector experienced volatility early in the period due to trade wars but began showing signs of stabilization and better leasing activity later in the period.

#### What detracted from performance?
**Residential \|** UDR, an apartment REIT held by the Fund, experienced decreased net income from deteriorating pricing power due to increased supply and increasing operating costs which detracted from Fund performance.

**Telecom \|** An overweight to telecommunication REITs detracted from Fund performance as the sector reset guidance due to reduced near-term leasing visibility.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994761.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Real Estate Fund (Class Y)** | 5.05% | 4.80% | 5.52% |
| **FTSE Nareit All Equity REITs Index** | 7.41% | 6.41% | 7.26% |
| **S&P 500<sup>®</sup> Index** | 16.99% | 14.19% | 15.50% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$696737705 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;38 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$5309096 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;63% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Welltower, Inc. | &nbsp;&nbsp;&nbsp;9.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;7.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;6.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;5.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp;&nbsp;5.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;5.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. | &nbsp;&nbsp;&nbsp;4.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;Crown Castle, Inc. | &nbsp;&nbsp;&nbsp;3.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;W.P. Carey, Inc. | &nbsp;&nbsp;&nbsp;3.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;First Industrial Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;3.38% |
| \* Excluding money market fund holdings, if any. |  |

---

**Property type** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994766.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since February 28, 2025. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

Effective June 27, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, no longer provides day-to-day management of the Fund.

At a meeting held on August 19, 2025, Fund shareholders approved changing the Fund's sub-classification under the Investment Company Act of 1940, as amended ("1940 Act"), from "diversified" to "non-diversified" and eliminating a related fundamental investment restrictions, and therefore the Fund is not required to meet certain diversification requirements under the 1940 Act.

The Fund's net expense ratio increased from the prior fiscal year end as a result of a change in operating expenses.

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

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

![TSR_QRcode](images_2684.jpg)

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

REA-AR-Y **Invesco Real Estate Fund**

![TSR_logo](images_2685.jpg)

### Invesco Real Estate Fund

### Investor Class: REINX

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

#### This report describes changes to the Fund that occurred during the reporting period.

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Real Estate Fund<br> (Investor Class) | $1461.43%<sup>†</sup> |

---

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

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended February 28, 2026, real estate markets were shaped by elevated tariffs that softened Gross Domestic Product growth and pressured consumer confidence. A softening labor market and rising political scrutiny of institutional single family ownership also impacted real estate markets. Easing inflation and expectations for Federal Reserve interest rate cuts improved financing conditions, while resilient demand supported fundamentals across industrial, data center, and senior housing Real Estate Investment Trusts (REITs).

 **•** For the fiscal year ended February 28, 2026, Investor Class shares of the Fund returned 4.78%. For the same time period, the FTSE Nareit All Equity REITs Index (the "Benchmark") returned 7.41%. The Fund underperformed the Benchmark primarily due to sector allocation during a period of extreme sector return variability particularly among telecom and residential REITs. These results were partially offset by stock selection among healthcare and industrial REITs.

#### What contributed to performance?
 **Healthcare \|** Healthcare REIT, American Healthcare, which focuses on senior housing raised earnings guidance and announced the completion of almost $1 billion in acquisitions in 2025, was a top contributor during the period.

 **Industrial \|** Stock selection within industrial REITs contributed to the Fund's relative performance. This sector experienced volatility early in the period due to trade wars but began showing signs of stabilization and better leasing activity later in the period.

#### What detracted from performance?
 **Residential \|** UDR, an apartment REIT held by the Fund, experienced decreased net income from deteriorating pricing power due to increased supply and increasing operating costs which detracted from Fund performance.

 **Telecom \|** An overweight to telecommunication REITs detracted from Fund performance as the sector reset guidance due to reduced near-term leasing visibility.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994797.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Real Estate Fund (Investor Class)** | 4.78% | 4.58% | 5.30% |
| **FTSE Nareit All Equity REITs Index** | 7.41% | 6.41% | 7.26% |
| **S&P 500<sup>®</sup> Index** | 16.99% | 14.19% | 15.50% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$696737705 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;38 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$5309096 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;63% |

---

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

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Welltower, Inc. | &nbsp;&nbsp;&nbsp;9.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;7.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;6.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;5.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp;&nbsp;5.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;5.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. | &nbsp;&nbsp;&nbsp;4.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;Crown Castle, Inc. | &nbsp;&nbsp;&nbsp;3.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;W.P. Carey, Inc. | &nbsp;&nbsp;&nbsp;3.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;First Industrial Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;3.38% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Property type** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994802.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since February 28, 2025. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

Effective June 27, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, no longer provides day-to-day management of the Fund.

At a meeting held on August 19, 2025, Fund shareholders approved changing the Fund's sub-classification under the Investment Company Act of 1940, as amended ("1940 Act"), from "diversified" to "non-diversified" and eliminating a related fundamental investment restrictions, and therefore the Fund is not required to meet certain diversification requirements under the 1940 Act.

The Fund's net expense ratio increased from the prior fiscal year end as a result of a change in operating expenses.

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

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

![TSR_QRcode](images_2684.jpg)

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

REA-AR-INV **Invesco Real Estate Fund**

![TSR_logo](images_2685.jpg)

### Invesco Real Estate Fund

### Class R5: IARIX

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

#### This report describes changes to the Fund that occurred during the reporting period.

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Real Estate Fund<br> (Class R5) | $111 | 1.08% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended February 28, 2026, real estate markets were shaped by elevated tariffs that softened Gross Domestic Product growth and pressured consumer confidence. A softening labor market and rising political scrutiny of institutional single family ownership also impacted real estate markets. Easing inflation and expectations for Federal Reserve interest rate cuts improved financing conditions, while resilient demand supported fundamentals across industrial, data center, and senior housing Real Estate Investment Trusts (REITs).

 **•** For the fiscal year ended February 28, 2026, Class R5 shares of the Fund returned 5.19%. For the same time period, the FTSE Nareit All Equity REITs Index (the "Benchmark") returned 7.41%. The Fund underperformed the Benchmark primarily due to sector allocation during a period of extreme sector return variability particularly among telecom and residential REITs. These results were partially offset by stock selection among healthcare and industrial REITs.

#### What contributed to performance?
 **Healthcare \|** Healthcare REIT, American Healthcare, which focuses on senior housing raised earnings guidance and announced the completion of almost $1 billion in acquisitions in 2025, was a top contributor during the period.

 **Industrial \|** Stock selection within industrial REITs contributed to the Fund's relative performance. This sector experienced volatility early in the period due to trade wars but began showing signs of stabilization and better leasing activity later in the period.

#### What detracted from performance?
 **Residential \|** UDR, an apartment REIT held by the Fund, experienced decreased net income from deteriorating pricing power due to increased supply and increasing operating costs which detracted from Fund performance.

 **Telecom \|** An overweight to telecommunication REITs detracted from Fund performance as the sector reset guidance due to reduced near-term leasing visibility.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994833.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Real Estate Fund (Class R5)** | 5.19% | 4.94% | 5.66% |
| **FTSE Nareit All Equity REITs Index** | 7.41% | 6.41% | 7.26% |
| **S&P 500<sup>®</sup> Index** | 16.99% | 14.19% | 15.50% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$696737705 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;38 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$5309096 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;63% |

---

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

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Welltower, Inc. | &nbsp;&nbsp;&nbsp;9.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;7.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;6.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;5.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp;&nbsp;5.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;5.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. | &nbsp;&nbsp;&nbsp;4.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;Crown Castle, Inc. | &nbsp;&nbsp;&nbsp;3.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;W.P. Carey, Inc. | &nbsp;&nbsp;&nbsp;3.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;First Industrial Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;3.38% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Property type** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994838.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since February 28, 2025. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

Effective June 27, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, no longer provides day-to-day management of the Fund.

At a meeting held on August 19, 2025, Fund shareholders approved changing the Fund's sub-classification under the Investment Company Act of 1940, as amended ("1940 Act"), from "diversified" to "non-diversified" and eliminating a related fundamental investment restrictions, and therefore the Fund is not required to meet certain diversification requirements under the 1940 Act.

The Fund's net expense ratio increased from the prior fiscal year end as a result of a change in operating expenses.

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

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

![TSR_QRcode](images_2684.jpg)

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

REA-AR-R5 **Invesco Real Estate Fund**

![TSR_logo](images_2685.jpg)

### Invesco Real Estate Fund

### Class R6: IARFX

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

#### This report describes changes to the Fund that occurred during the reporting period.

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Real Estate Fund<br> (Class R6) | $106 | 1.03% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended February 28, 2026, real estate markets were shaped by elevated tariffs that softened Gross Domestic Product growth and pressured consumer confidence. A softening labor market and rising political scrutiny of institutional single family ownership also impacted real estate markets. Easing inflation and expectations for Federal Reserve interest rate cuts improved financing conditions, while resilient demand supported fundamentals across industrial, data center, and senior housing Real Estate Investment Trusts (REITs).

 **•** For the fiscal year ended February 28, 2026, Class R6 shares of the Fund returned 5.26%. For the same time period, the FTSE Nareit All Equity REITs Index (the "Benchmark") returned 7.41%. The Fund underperformed the Benchmark primarily due to sector allocation during a period of extreme sector return variability particularly among telecom and residential REITs. These results were partially offset by stock selection among healthcare and industrial REITs.

#### What contributed to performance?
 **Healthcare \|** Healthcare REIT, American Healthcare, which focuses on senior housing raised earnings guidance and announced the completion of almost $1 billion in acquisitions in 2025, was a top contributor during the period.

 **Industrial \|** Stock selection within industrial REITs contributed to the Fund's relative performance. This sector experienced volatility early in the period due to trade wars but began showing signs of stabilization and better leasing activity later in the period.

#### What detracted from performance?
 **Residential \|** UDR, an apartment REIT held by the Fund, experienced decreased net income from deteriorating pricing power due to increased supply and increasing operating costs which detracted from Fund performance.

 **Telecom \|** An overweight to telecommunication REITs detracted from Fund performance as the sector reset guidance due to reduced near-term leasing visibility.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994869.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Real Estate Fund (Class R6)** | 5.26% | 5.00% | 5.74% |
| **FTSE Nareit All Equity REITs Index** | 7.41% | 6.41% | 7.26% |
| **S&P 500<sup>®</sup> Index** | 16.99% | 14.19% | 15.50% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$696737705 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;38 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$5309096 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;63% |

---

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

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Welltower, Inc. | &nbsp;&nbsp;&nbsp;9.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;7.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;6.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;5.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp;&nbsp;5.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;5.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. | &nbsp;&nbsp;&nbsp;4.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;Crown Castle, Inc. | &nbsp;&nbsp;&nbsp;3.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;W.P. Carey, Inc. | &nbsp;&nbsp;&nbsp;3.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;First Industrial Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;3.38% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Property type** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9994874.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since February 28, 2025. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

Effective June 27, 2025, the Fund's sub-adviser, Invesco Asset Management Limited, no longer provides day-to-day management of the Fund.

At a meeting held on August 19, 2025, Fund shareholders approved changing the Fund's sub-classification under the Investment Company Act of 1940, as amended ("1940 Act"), from "diversified" to "non-diversified" and eliminating a related fundamental investment restrictions, and therefore the Fund is not required to meet certain diversification requirements under the 1940 Act.

The Fund's net expense ratio increased from the prior fiscal year end as a result of a change in operating expenses.

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

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

![TSR_QRcode](images_2684.jpg)

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

REA-AR-R6 **Invesco Real Estate Fund**

![TSR_logo](images_2685.jpg)

### Invesco Short Duration Inflation Protected Fund

### Class A: LMTAX

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

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Short Duration Inflation Protected Fund<br> (Class A) | $560.55%<sup>†</sup> |

---

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

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended February 28, 2026, Treasury Inflation Protected Securities provided positive returns through the period and inflation expectations were lower at the end of the period. After gaining some clarity around US tariffs, markets were able to rebound after initial price spikes and experience gains in most sectors during 2025 and into 2026. Core inflation has shown a downward trend, but it remained above the US Federal Reserve's target during the period.

 **•** For the fiscal year ended February 28, 2026, Class A shares of the Fund, excluding sales charge, returned 4.58%. For the same time period, the ICE BofA 1-5 Year US Inflation-Linked Treasury Index (the "Benchmark") returned 5.12%. This is an index replication fund so there is no active management involved.

 **•** We seek to replicate the risk and return characteristics of the Benchmark by generally investing in the component securities of the Benchmark in their respective weightings. For the fiscal year, the Fund generated positive returns, but underperformed the Benchmark. The Fund's performance will typically lag its Benchmark due to fees.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994905.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Short Duration Inflation Protected Fund (Class A) —including sales charge** | 1.95% | 2.32% | 2.33% |
| **Invesco Short Duration Inflation Protected Fund (Class A) —excluding sales charge** | 4.58% | 2.85% | 2.59% |
| **ICE BofA 1-5 Year US Inflation-Linked Treasury Index** | 5.12% | 3.41% | 3.16% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$368150836 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;20 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$549083 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;41% |

---

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

 **Composition by maturity**

 **(% of total investments)**

---

| | |
|:---|:---|
| 4/15/2027 | 5.0% |
| 7/15/2027 | 5.4% |
| 10/15/2027 | 4.9% |
| 1/15/2028 | 8.3% |
| 4/15/2028 | 8.7% |
| 7/15/2028 | 5.2% |
| 10/15/2028 | 5.1% |
| 1/15/2029 | 7.7% |
| 4/15/2029 | 9.8% |
| 7/15/2029 | 5.5% |
| 10/15/2029 | 5.4% |
| 1/15/2030 | 5.5% |
| 4/15/2030 | 6.0% |
| 7/15/2030 | 5.8% |
| 10/15/2030 | 6.0% |
| 1/15/2031 | 5.7% |

---

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

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

![TSR_QRcode](images_2684.jpg)

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

SDIP-AR-A **Invesco Short Duration Inflation Protected Fund**

![TSR_logo](images_2685.jpg)

### Invesco Short Duration Inflation Protected Fund

### Class A2: SHTIX

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

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Short Duration Inflation Protected Fund<br> (Class A2) | $460.45%<sup>†</sup> |

---

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

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended February 28, 2026, Treasury Inflation Protected Securities provided positive returns through the period and inflation expectations were lower at the end of the period. After gaining some clarity around US tariffs, markets were able to rebound after initial price spikes and experience gains in most sectors during 2025 and into 2026. Core inflation has shown a downward trend, but it remained above the US Federal Reserve's target during the period.

 **•** For the fiscal year ended February 28, 2026, Class A2 shares of the Fund, excluding sales charge, returned 4.69%. For the same time period, the ICE BofA 1-5 Year US Inflation-Linked Treasury Index (the "Benchmark") returned 5.12%. This is an index replication fund so there is no active management involved.

 **•** We seek to replicate the risk and return characteristics of the Benchmark by generally investing in the component securities of the Benchmark in their respective weightings. For the fiscal year, the Fund generated positive returns, but underperformed the Benchmark. The Fund's performance will typically lag its Benchmark due to fees.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9995049.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Short Duration Inflation Protected Fund (Class A2) —including sales charge** | 3.66% | 2.73% | 2.59% |
| **Invesco Short Duration Inflation Protected Fund (Class A2) —excluding sales charge** | 4.69% | 2.93% | 2.69% |
| **ICE BofA 1-5 Year US Inflation-Linked Treasury Index** | 5.12% | 3.41% | 3.16% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$368150836 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;20 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$549083 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;41% |

---

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

 **Composition by maturity**

 **(% of total investments)**

---

| | |
|:---|:---|
| 4/15/2027 | 5.0% |
| 7/15/2027 | 5.4% |
| 10/15/2027 | 4.9% |
| 1/15/2028 | 8.3% |
| 4/15/2028 | 8.7% |
| 7/15/2028 | 5.2% |
| 10/15/2028 | 5.1% |
| 1/15/2029 | 7.7% |
| 4/15/2029 | 9.8% |
| 7/15/2029 | 5.5% |
| 10/15/2029 | 5.4% |
| 1/15/2030 | 5.5% |
| 4/15/2030 | 6.0% |
| 7/15/2030 | 5.8% |
| 10/15/2030 | 6.0% |
| 1/15/2031 | 5.7% |

---

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

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

![TSR_QRcode](images_2684.jpg)

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

SDIP-AR-A2 **Invesco Short Duration Inflation Protected Fund**

![TSR_logo](images_2685.jpg)

### Invesco Short Duration Inflation Protected Fund

### Class Y: LMTYX

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

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Short Duration Inflation Protected Fund<br> (Class Y) | $310.30%<sup>†</sup> |

---

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

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended February 28, 2026, Treasury Inflation Protected Securities provided positive returns through the period and inflation expectations were lower at the end of the period. After gaining some clarity around US tariffs, markets were able to rebound after initial price spikes and experience gains in most sectors during 2025 and into 2026. Core inflation has shown a downward trend, but it remained above the US Federal Reserve's target during the period.

 **•** For the fiscal year ended February 28, 2026, Class Y shares of the Fund returned 4.84%. For the same time period, the ICE BofA 1-5 Year US Inflation-Linked Treasury Index (the "Benchmark") returned 5.12%. This is an index replication fund so there is no active management involved.

 **•** We seek to replicate the risk and return characteristics of the Benchmark by generally investing in the component securities of the Benchmark in their respective weightings. For the fiscal year, the Fund generated positive returns, but underperformed the Benchmark. The Fund's performance will typically lag its Benchmark due to fees.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994941.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Short Duration Inflation Protected Fund (Class Y)** | 4.84% | 3.09% | 2.85% |
| **ICE BofA 1-5 Year US Inflation-Linked Treasury Index** | 5.12% | 3.41% | 3.16% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$368150836 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;20 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$549083 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;41% |

---

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

 **Composition by maturity**

 **(% of total investments)**

---

| | |
|:---|:---|
| 4/15/2027 | 5.0% |
| 7/15/2027 | 5.4% |
| 10/15/2027 | 4.9% |
| 1/15/2028 | 8.3% |
| 4/15/2028 | 8.7% |
| 7/15/2028 | 5.2% |
| 10/15/2028 | 5.1% |
| 1/15/2029 | 7.7% |
| 4/15/2029 | 9.8% |
| 7/15/2029 | 5.5% |
| 10/15/2029 | 5.4% |
| 1/15/2030 | 5.5% |
| 4/15/2030 | 6.0% |
| 7/15/2030 | 5.8% |
| 10/15/2030 | 6.0% |
| 1/15/2031 | 5.7% |

---

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

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

![TSR_QRcode](images_2684.jpg)

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

SDIP-AR-Y **Invesco Short Duration Inflation Protected Fund**

![TSR_logo](images_2685.jpg)

### Invesco Short Duration Inflation Protected Fund

### Class R5: ALMIX

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

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Short Duration Inflation Protected Fund<br>(Class R5) | $310.30%<sup>†</sup> |

---

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

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, Treasury Inflation Protected Securities provided positive returns through the period and inflation expectations were lower at the end of the period. After gaining some clarity around US tariffs, markets were able to rebound after initial price spikes and experience gains in most sectors during 2025 and into 2026. Core inflation has shown a downward trend, but it remained above the US Federal Reserve's target during the period.

**•** For the fiscal year ended February 28, 2026, Class R5 shares of the Fund returned 4.84%. For the same time period, the ICE BofA 1-5 Year US Inflation-Linked Treasury Index (the "Benchmark") returned 5.12%. This is an index replication fund so there is no active management involved.

**•** We seek to replicate the risk and return characteristics of the Benchmark by generally investing in the component securities of the Benchmark in their respective weightings. For the fiscal year, the Fund generated positive returns, but underperformed the Benchmark. The Fund's performance will typically lag its Benchmark due to fees.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9994977.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Short Duration Inflation Protected Fund (Class R5)** | 4.84% | 3.11% | 2.85% |
| **ICE BofA 1-5 Year US Inflation-Linked Treasury Index** | 5.12% | 3.41% | 3.16% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$368150836 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;20 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$549083 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;41% |

---

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

**Composition by maturity**

**(% of total investments)**

---

| | |
|:---|:---|
| 4/15/2027 | 5.0% |
| 7/15/2027 | 5.4% |
| 10/15/2027 | 4.9% |
| 1/15/2028 | 8.3% |
| 4/15/2028 | 8.7% |
| 7/15/2028 | 5.2% |
| 10/15/2028 | 5.1% |
| 1/15/2029 | 7.7% |
| 4/15/2029 | 9.8% |
| 7/15/2029 | 5.5% |
| 10/15/2029 | 5.4% |
| 1/15/2030 | 5.5% |
| 4/15/2030 | 6.0% |
| 7/15/2030 | 5.8% |
| 10/15/2030 | 6.0% |
| 1/15/2031 | 5.7% |

---

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

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

![TSR_QRcode](images_2684.jpg)

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

SDIP-AR-R5 **Invesco Short Duration Inflation Protected Fund**

![TSR_logo](images_2685.jpg)

### Invesco Short Duration Inflation Protected Fund

### Class R6: SDPSX

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

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Short Duration Inflation Protected Fund<br>(Class R6) | $310.30%<sup>†</sup> |

---

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

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, Treasury Inflation Protected Securities provided positive returns through the period and inflation expectations were lower at the end of the period. After gaining some clarity around US tariffs, markets were able to rebound after initial price spikes and experience gains in most sectors during 2025 and into 2026. Core inflation has shown a downward trend, but it remained above the US Federal Reserve's target during the period.

**•** For the fiscal year ended February 28, 2026, Class R6 shares of the Fund returned 4.84%. For the same time period, the ICE BofA 1-5 Year US Inflation-Linked Treasury Index (the "Benchmark") returned 5.12%. This is an index replication fund so there is no active management involved.

**•** We seek to replicate the risk and return characteristics of the Benchmark by generally investing in the component securities of the Benchmark in their respective weightings. For the fiscal year, the Fund generated positive returns, but underperformed the Benchmark. The Fund's performance will typically lag its Benchmark due to fees.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9995013.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Short Duration Inflation Protected Fund (Class R6)** | 4.84% | 3.09% | 2.87% |
| **ICE BofA 1-5 Year US Inflation-Linked Treasury Index** | 5.12% | 3.41% | 3.16% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$368150836 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;20 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$549083 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;41% |

---

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

**Composition by maturity**

**(% of total investments)**

---

| | |
|:---|:---|
| 4/15/2027 | 5.0% |
| 7/15/2027 | 5.4% |
| 10/15/2027 | 4.9% |
| 1/15/2028 | 8.3% |
| 4/15/2028 | 8.7% |
| 7/15/2028 | 5.2% |
| 10/15/2028 | 5.1% |
| 1/15/2029 | 7.7% |
| 4/15/2029 | 9.8% |
| 7/15/2029 | 5.5% |
| 10/15/2029 | 5.4% |
| 1/15/2030 | 5.5% |
| 4/15/2030 | 6.0% |
| 7/15/2030 | 5.8% |
| 10/15/2030 | 6.0% |
| 1/15/2031 | 5.7% |

---

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

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

![TSR_QRcode](images_2684.jpg)

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

SDIP-AR-R6 **Invesco Short Duration Inflation Protected Fund**

![TSR_logo](images_2685.jpg)

### Invesco Short Term Bond Fund

### Class A: STBAX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Short Term Bond Fund<br> (Class A) | $66 | 0.64% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended February 28, 2026, the corporate bond market continued to benefit from generally supportive fundamentals, including resilient economic growth and stable corporate balance sheets. Credit spreads remained near historically tight levels for much of the period, although there were intermittent periods of modest widening as macro conditions evolved. Because the Fund holds predominantly corporate bonds, it benefited from this overall constructive market environment.

 **•** For the fiscal year ended February 28, 2026, Class A shares of the Fund, excluding sales charge, returned 5.25%. For the same time period, the Bloomberg 1-3 Year Government/Credit Index (the "Benchmark") returned 4.92%.

#### What contributed to performance?
 **Securitized \|** Exposure to out of Benchmark securitized sectors, including non-agency mortgage-backed securities, commercial mortgage-backed securities, and asset-backed securities contributed positively to performance as these areas benefited from stable fundamentals and attractive relative value opportunities.

 **Investment grade industrials and financials \|** Security selection in the financials and industrials sectors within the investment-grade corporate market added to relative Fund performance, supported by solid credit fundamentals and economic backdrop.

 **High yield industrials \|** High yield corporates, particularly within the industrials segment, contributed positively to relative Fund performance during the fiscal year.

#### What detracted from performance?
 **Insurance sub-sector \|** The insurance sub-sector modestly detracted from relative performance with relative weakness among issuers such as Lincoln Financial and Pacific Life weighing on results.

 **Brokerage/asset managers/exchanges sub-sector \|** The brokerage/asset-management/exchanges and asset management sub-sector detracted from relative Fund performance during the period, led by underperformance in credits such as Apollo Global Management.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9995085.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Short Term Bond Fund (Class A) —including sales charge** | 2.59% | 1.86% | 2.30% |
| **Invesco Short Term Bond Fund (Class A) —excluding sales charge** | 5.25% | 2.37% | 2.56% |
| **Bloomberg 1-3 Year Government/Credit Index** | 4.92% | 2.12% | 2.10% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$2108510970 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;922 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$6493271 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;177% |

---

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

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 3.50%, 01/31/2028 | &nbsp;&nbsp;&nbsp;2.35% |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 3.75%, 01/31/2031 | &nbsp;&nbsp;&nbsp;1.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;BX Trust, Series 2021-LGCY, Class A, 4.28%, 10/15/2036 | &nbsp;&nbsp;&nbsp;1.18% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eagle Funding LuxCo S.a.r.l., 5.50%, 08/17/2030 | &nbsp;&nbsp;&nbsp;0.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., 3.70%, 02/15/2029 | &nbsp;&nbsp;&nbsp;0.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;LG Electronics, Inc., 5.63%, 04/24/2027 | &nbsp;&nbsp;&nbsp;0.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco Short Duration Total Return Bond ETF | &nbsp;&nbsp;&nbsp;0.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;Carnival Corp., 5.13%, 05/01/2029 | &nbsp;&nbsp;&nbsp;0.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;Kuwait International Government Bond, 4.02%, 10/09/2028 | &nbsp;&nbsp;&nbsp;0.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley, Series I, 4.13%, 10/18/2029 | &nbsp;&nbsp;&nbsp;0.70% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Security type allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9995090.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

STB-AR-A **Invesco Short Term Bond Fund**

![TSR_logo](images_2685.jpg)

### Invesco Short Term Bond Fund

### Class C: STBCX

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

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Short Term Bond Fund<br> (Class C) | $1010.99%<sup>†</sup> |

---

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

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended February 28, 2026, the corporate bond market continued to benefit from generally supportive fundamentals, including resilient economic growth and stable corporate balance sheets. Credit spreads remained near historically tight levels for much of the period, although there were intermittent periods of modest widening as macro conditions evolved. Because the Fund holds predominantly corporate bonds, it benefited from this overall constructive market environment.

 **•** For the fiscal year ended February 28, 2026, Class C shares of the Fund, excluding sales charge, returned 4.88%. For the same time period, the Bloomberg 1-3 Year Government/Credit Index (the "Benchmark") returned 4.92%.

#### What contributed to performance?
 **Securitized \|** Exposure to out of Benchmark securitized sectors, including non-agency mortgage-backed securities, commercial mortgage-backed securities, and asset-backed securities contributed positively to performance as these areas benefited from stable fundamentals and attractive relative value opportunities.

 **Investment grade industrials and financials \|** Security selection in the financials and industrials sectors within the investment-grade corporate market added to relative Fund performance, supported by solid credit fundamentals and economic backdrop.

 **High yield industrials \|** High yield corporates, particularly within the industrials segment, contributed positively to relative Fund performance during the fiscal year.

#### What detracted from performance?
 **Insurance sub-sector \|** The insurance sub-sector modestly detracted from relative performance with relative weakness among issuers such as Lincoln Financial and Pacific Life weighing on results.

 **Brokerage/asset managers/exchanges sub-sector \|** The brokerage/asset-management/exchanges and asset management sub-sector detracted from relative Fund performance during the period, led by underperformance in credits such as Apollo Global Management.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9995121.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Short Term Bond Fund (Class C) —including sales charge** | 4.38% | 2.02% | 2.27% |
| **Invesco Short Term Bond Fund (Class C) —excluding sales charge** | 4.88% | 2.02% | 2.27% |
| **Bloomberg 1-3 Year Government/Credit Index** | 4.92% | 2.12% | 2.10% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$2108510970 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;922 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$6493271 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;177% |

---

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

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 3.50%, 01/31/2028 | &nbsp;&nbsp;&nbsp;2.35% |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 3.75%, 01/31/2031 | &nbsp;&nbsp;&nbsp;1.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;BX Trust, Series 2021-LGCY, Class A, 4.28%, 10/15/2036 | &nbsp;&nbsp;&nbsp;1.18% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eagle Funding LuxCo S.a.r.l., 5.50%, 08/17/2030 | &nbsp;&nbsp;&nbsp;0.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., 3.70%, 02/15/2029 | &nbsp;&nbsp;&nbsp;0.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;LG Electronics, Inc., 5.63%, 04/24/2027 | &nbsp;&nbsp;&nbsp;0.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco Short Duration Total Return Bond ETF | &nbsp;&nbsp;&nbsp;0.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;Carnival Corp., 5.13%, 05/01/2029 | &nbsp;&nbsp;&nbsp;0.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;Kuwait International Government Bond, 4.02%, 10/09/2028 | &nbsp;&nbsp;&nbsp;0.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley, Series I, 4.13%, 10/18/2029 | &nbsp;&nbsp;&nbsp;0.70% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Security type allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9995126.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

STB-AR-C **Invesco Short Term Bond Fund**

![TSR_logo](images_2685.jpg)

### Invesco Short Term Bond Fund

### Class R: STBRX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Short Term Bond Fund<br>(Class R) | $101 | 0.99% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, the corporate bond market continued to benefit from generally supportive fundamentals, including resilient economic growth and stable corporate balance sheets. Credit spreads remained near historically tight levels for much of the period, although there were intermittent periods of modest widening as macro conditions evolved. Because the Fund holds predominantly corporate bonds, it benefited from this overall constructive market environment.

**•** For the fiscal year ended February 28, 2026, Class R shares of the Fund returned 4.76%. For the same time period, the Bloomberg 1-3 Year Government/Credit Index (the "Benchmark") returned 4.92%.

#### What contributed to performance?
**Securitized \|** Exposure to out of Benchmark securitized sectors, including non-agency mortgage-backed securities, commercial mortgage-backed securities, and asset-backed securities contributed positively to performance as these areas benefited from stable fundamentals and attractive relative value opportunities.

**Investment grade industrials and financials \|** Security selection in the financials and industrials sectors within the investment-grade corporate market added to relative Fund performance, supported by solid credit fundamentals and economic backdrop.

**High yield industrials \|** High yield corporates, particularly within the industrials segment, contributed positively to relative Fund performance during the fiscal year.

#### What detracted from performance?
**Insurance sub-sector \|** The insurance sub-sector modestly detracted from relative performance with relative weakness among issuers such as Lincoln Financial and Pacific Life weighing on results.

**Brokerage/asset managers/exchanges sub-sector \|** The brokerage/asset-management/exchanges and asset management sub-sector detracted from relative Fund performance during the period, led by underperformance in credits such as Apollo Global Management.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9995157.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Short Term Bond Fund (Class R)** | 4.76% | 1.99% | 2.19% |
| **Bloomberg 1-3 Year Government/Credit Index** | 4.92% | 2.12% | 2.10% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$2108510970 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;922 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$6493271 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;177% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 3.50%, 01/31/2028 | &nbsp;&nbsp;&nbsp;2.35% |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 3.75%, 01/31/2031 | &nbsp;&nbsp;&nbsp;1.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;BX Trust, Series 2021-LGCY, Class A, 4.28%, 10/15/2036 | &nbsp;&nbsp;&nbsp;1.18% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eagle Funding LuxCo S.a.r.l., 5.50%, 08/17/2030 | &nbsp;&nbsp;&nbsp;0.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., 3.70%, 02/15/2029 | &nbsp;&nbsp;&nbsp;0.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;LG Electronics, Inc., 5.63%, 04/24/2027 | &nbsp;&nbsp;&nbsp;0.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco Short Duration Total Return Bond ETF | &nbsp;&nbsp;&nbsp;0.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;Carnival Corp., 5.13%, 05/01/2029 | &nbsp;&nbsp;&nbsp;0.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;Kuwait International Government Bond, 4.02%, 10/09/2028 | &nbsp;&nbsp;&nbsp;0.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley, Series I, 4.13%, 10/18/2029 | &nbsp;&nbsp;&nbsp;0.70% |
| \* Excluding money market fund holdings, if any. |  |

---

**Security type allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9995162.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

STB-AR-R **Invesco Short Term Bond Fund**

![TSR_logo](images_2685.jpg)

### Invesco Short Term Bond Fund

### Class Y: STBYX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Short Term Bond Fund<br>(Class Y) | $50 | 0.49% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, the corporate bond market continued to benefit from generally supportive fundamentals, including resilient economic growth and stable corporate balance sheets. Credit spreads remained near historically tight levels for much of the period, although there were intermittent periods of modest widening as macro conditions evolved. Because the Fund holds predominantly corporate bonds, it benefited from this overall constructive market environment.

**•** For the fiscal year ended February 28, 2026, Class Y shares of the Fund returned 5.28%. For the same time period, the Bloomberg 1-3 Year Government/Credit Index (the "Benchmark") returned 4.92%.

#### What contributed to performance?
**Securitized \|** Exposure to out of Benchmark securitized sectors, including non-agency mortgage-backed securities, commercial mortgage-backed securities, and asset-backed securities contributed positively to performance as these areas benefited from stable fundamentals and attractive relative value opportunities.

**Investment grade industrials and financials \|** Security selection in the financials and industrials sectors within the investment-grade corporate market added to relative Fund performance, supported by solid credit fundamentals and economic backdrop.

**High yield industrials \|** High yield corporates, particularly within the industrials segment, contributed positively to relative Fund performance during the fiscal year.

#### What detracted from performance?
**Insurance sub-sector \|** The insurance sub-sector modestly detracted from relative performance with relative weakness among issuers such as Lincoln Financial and Pacific Life weighing on results.

**Brokerage/asset managers/exchanges sub-sector \|** The brokerage/asset-management/exchanges and asset management sub-sector detracted from relative Fund performance during the period, led by underperformance in credits such as Apollo Global Management.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9995193.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Short Term Bond Fund (Class Y)** | 5.28% | 2.53% | 2.70% |
| **Bloomberg 1-3 Year Government/Credit Index** | 4.92% | 2.12% | 2.10% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$2108510970 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;922 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$6493271 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;177% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 3.50%, 01/31/2028 | &nbsp;&nbsp;&nbsp;2.35% |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 3.75%, 01/31/2031 | &nbsp;&nbsp;&nbsp;1.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;BX Trust, Series 2021-LGCY, Class A, 4.28%, 10/15/2036 | &nbsp;&nbsp;&nbsp;1.18% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eagle Funding LuxCo S.a.r.l., 5.50%, 08/17/2030 | &nbsp;&nbsp;&nbsp;0.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., 3.70%, 02/15/2029 | &nbsp;&nbsp;&nbsp;0.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;LG Electronics, Inc., 5.63%, 04/24/2027 | &nbsp;&nbsp;&nbsp;0.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco Short Duration Total Return Bond ETF | &nbsp;&nbsp;&nbsp;0.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;Carnival Corp., 5.13%, 05/01/2029 | &nbsp;&nbsp;&nbsp;0.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;Kuwait International Government Bond, 4.02%, 10/09/2028 | &nbsp;&nbsp;&nbsp;0.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley, Series I, 4.13%, 10/18/2029 | &nbsp;&nbsp;&nbsp;0.70% |
| \* Excluding money market fund holdings, if any. |  |

---

**Security type allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9995198.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

STB-AR-Y **Invesco Short Term Bond Fund**

![TSR_logo](images_2685.jpg)

### Invesco Short Term Bond Fund

### Class R5: ISTBX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Short Term Bond Fund<br> (Class R5) | $47 | 0.46% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended February 28, 2026, the corporate bond market continued to benefit from generally supportive fundamentals, including resilient economic growth and stable corporate balance sheets. Credit spreads remained near historically tight levels for much of the period, although there were intermittent periods of modest widening as macro conditions evolved. Because the Fund holds predominantly corporate bonds, it benefited from this overall constructive market environment.

 **•** For the fiscal year ended February 28, 2026, Class R5 shares of the Fund returned 5.31%. For the same time period, the Bloomberg 1-3 Year Government/Credit Index (the "Benchmark") returned 4.92%.

#### What contributed to performance?
 **Securitized \|** Exposure to out of Benchmark securitized sectors, including non-agency mortgage-backed securities, commercial mortgage-backed securities, and asset-backed securities contributed positively to performance as these areas benefited from stable fundamentals and attractive relative value opportunities.

 **Investment grade industrials and financials \|** Security selection in the financials and industrials sectors within the investment-grade corporate market added to relative Fund performance, supported by solid credit fundamentals and economic backdrop.

 **High yield industrials \|** High yield corporates, particularly within the industrials segment, contributed positively to relative Fund performance during the fiscal year.

#### What detracted from performance?
 **Insurance sub-sector \|** The insurance sub-sector modestly detracted from relative performance with relative weakness among issuers such as Lincoln Financial and Pacific Life weighing on results.

 **Brokerage/asset managers/exchanges sub-sector \|** The brokerage/asset-management/exchanges and asset management sub-sector detracted from relative Fund performance during the period, led by underperformance in credits such as Apollo Global Management.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9995229.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Short Term Bond Fund (Class R5)** | 5.31% | 2.56% | 2.76% |
| **Bloomberg 1-3 Year Government/Credit Index** | 4.92% | 2.12% | 2.10% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$2108510970 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;922 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$6493271 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;177% |

---

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

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 3.50%, 01/31/2028 | &nbsp;&nbsp;&nbsp;2.35% |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 3.75%, 01/31/2031 | &nbsp;&nbsp;&nbsp;1.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;BX Trust, Series 2021-LGCY, Class A, 4.28%, 10/15/2036 | &nbsp;&nbsp;&nbsp;1.18% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eagle Funding LuxCo S.a.r.l., 5.50%, 08/17/2030 | &nbsp;&nbsp;&nbsp;0.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., 3.70%, 02/15/2029 | &nbsp;&nbsp;&nbsp;0.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;LG Electronics, Inc., 5.63%, 04/24/2027 | &nbsp;&nbsp;&nbsp;0.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco Short Duration Total Return Bond ETF | &nbsp;&nbsp;&nbsp;0.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;Carnival Corp., 5.13%, 05/01/2029 | &nbsp;&nbsp;&nbsp;0.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;Kuwait International Government Bond, 4.02%, 10/09/2028 | &nbsp;&nbsp;&nbsp;0.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley, Series I, 4.13%, 10/18/2029 | &nbsp;&nbsp;&nbsp;0.70% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Security type allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9995234.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

STB-AR-R5 **Invesco Short Term Bond Fund**

![TSR_logo](images_2685.jpg)

### Invesco Short Term Bond Fund

### Class R6: ISTFX

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Short Term Bond Fund<br> (Class R6) | $40 | 0.39% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended February 28, 2026, the corporate bond market continued to benefit from generally supportive fundamentals, including resilient economic growth and stable corporate balance sheets. Credit spreads remained near historically tight levels for much of the period, although there were intermittent periods of modest widening as macro conditions evolved. Because the Fund holds predominantly corporate bonds, it benefited from this overall constructive market environment.

 **•** For the fiscal year ended February 28, 2026, Class R6 shares of the Fund returned 5.48%. For the same time period, the Bloomberg 1-3 Year Government/Credit Index (the "Benchmark") returned 4.92%.

#### What contributed to performance?
 **Securitized \|** Exposure to out of Benchmark securitized sectors, including non-agency mortgage-backed securities, commercial mortgage-backed securities, and asset-backed securities contributed positively to performance as these areas benefited from stable fundamentals and attractive relative value opportunities.

 **Investment grade industrials and financials \|** Security selection in the financials and industrials sectors within the investment-grade corporate market added to relative Fund performance, supported by solid credit fundamentals and economic backdrop.

 **High yield industrials \|** High yield corporates, particularly within the industrials segment, contributed positively to relative Fund performance during the fiscal year.

#### What detracted from performance?
 **Insurance sub-sector \|** The insurance sub-sector modestly detracted from relative performance with relative weakness among issuers such as Lincoln Financial and Pacific Life weighing on results.

 **Brokerage/asset managers/exchanges sub-sector \|** The brokerage/asset-management/exchanges and asset management sub-sector detracted from relative Fund performance during the period, led by underperformance in credits such as Apollo Global Management.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9995265.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Short Term Bond Fund (Class R6)** | 5.48% | 2.62% | 2.82% |
| **Bloomberg 1-3 Year Government/Credit Index** | 4.92% | 2.12% | 2.10% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 0.42% | 1.97% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$2108510970 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;922 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$6493271 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;177% |

---

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

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 3.50%, 01/31/2028 | &nbsp;&nbsp;&nbsp;2.35% |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes, 3.75%, 01/31/2031 | &nbsp;&nbsp;&nbsp;1.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;BX Trust, Series 2021-LGCY, Class A, 4.28%, 10/15/2036 | &nbsp;&nbsp;&nbsp;1.18% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eagle Funding LuxCo S.a.r.l., 5.50%, 08/17/2030 | &nbsp;&nbsp;&nbsp;0.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., 3.70%, 02/15/2029 | &nbsp;&nbsp;&nbsp;0.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;LG Electronics, Inc., 5.63%, 04/24/2027 | &nbsp;&nbsp;&nbsp;0.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco Short Duration Total Return Bond ETF | &nbsp;&nbsp;&nbsp;0.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;Carnival Corp., 5.13%, 05/01/2029 | &nbsp;&nbsp;&nbsp;0.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;Kuwait International Government Bond, 4.02%, 10/09/2028 | &nbsp;&nbsp;&nbsp;0.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley, Series I, 4.13%, 10/18/2029 | &nbsp;&nbsp;&nbsp;0.70% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Security type allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9995270.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

STB-AR-R6 **Invesco Short Term Bond Fund**

![TSR_logo](images_2685.jpg)

### Invesco SMA High Yield Bond Fund

### SMHYX

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

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

---

| | |
|:---|:---|
| **Fund** | **Costs of a $10,000 investment** |
| Invesco SMA High Yield Bond Fund | $00.00%<sup>†</sup> |

---

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

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended February 28, 2026, the corporate bond market benefited from a benign default environment, resilient consumers, rate cuts and solid earnings growth. Continued disinflation and resilient economic growth supporting corporate fundamentals led to tightening credit spreads despite tariff uncertaintay at the beginning of the period. Because the Fund holds predominantly corporate bonds, it benefited from this broader market environment.

**•** For the fiscal year ended February 28, 2026, the Fund returned 6.93%. For the same time period, the Bloomberg US Corporate High Yield Ba/B 2% Issuer Cap Index returned 7.48%.

#### What contributed to performance?
**Utilities and communication services \|** Security selection within the utilities and communication services were key contributors to relative performance, mainly driven by lower-quality wireline and electric companies.

**Investment grade financial institutions \|** Security selection in investment grade financial institutions also boosted relative performance.

#### What detracted from performance?
**Consumer-cyclical corporates \|** Exposure to consumer-cyclical corporates detracted from relative performance. Security selection in retailers was the main detractor.

**Energy corporates \|** An underweight in independent and oil field services detracted from relative performance.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9996057.jpg)

---

| | | |
|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **Since<br>Inception<br>(3/1/23)** |
| **Invesco SMA High Yield Bond Fund** | 6.93% | 8.71% |
| **Bloomberg US Corporate High Yield Ba/B 2% Issuer Cap Index** | 7.48% | 8.99% |
| **Bloomberg U.S. Aggregate Bond Index** | 6.26% | 5.33% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$10566192 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;205 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;121% |

---

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

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Iliad Holding S.A.S., 8.50%, 04/15/2031 | &nbsp;&nbsp;&nbsp;2.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;Studio City Finance Ltd., 5.00%, 01/15/2029 | &nbsp;&nbsp;&nbsp;1.83% |
| &nbsp;&nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 6.95%, 03/10/2055 | &nbsp;&nbsp;&nbsp;1.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;EZCORP, Inc., 7.38%, 04/01/2032 | &nbsp;&nbsp;&nbsp;1.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;Global Aircraft Leasing Co. Ltd., 8.75%, 09/01/2027 | &nbsp;&nbsp;&nbsp;1.44% |
| &nbsp;&nbsp;&nbsp;&nbsp;United Airlines Holdings, Inc., 5.38%, 03/01/2031 | &nbsp;&nbsp;&nbsp;1.22% |
| &nbsp;&nbsp;&nbsp;&nbsp;CMA CGM S.A., 4.88%, 01/15/2032 | &nbsp;&nbsp;&nbsp;1.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;New Gold, Inc., 6.88%, 04/01/2032 | &nbsp;&nbsp;&nbsp;1.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vodafone Group PLC, 4.13%, 06/04/2081 | &nbsp;&nbsp;&nbsp;1.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;VoltaGrid LLC, 7.38%, 11/01/2030 | &nbsp;&nbsp;&nbsp;1.02% |
| \* Excluding money market fund holdings, if any. |  |

---

**Security type allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9996062.jpg)

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

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

![TSR_QRcode](images_2684.jpg)

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

SMAHYB-AR-NA **Invesco SMA High Yield Bond Fund**

![TSR_logo](images_2685.jpg)

### Invesco U.S. Government Money Portfolio

### Invesco Cash Reserve: GMQXX

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

#### This report describes changes to the Fund that occurred during the reporting period.

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco U.S. Government Money Portfolio<br>(Invesco Cash Reserve) | $700.69%<sup>†</sup> |

---

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

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1128186982 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;78 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$3543475 |

---

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

**Composition by maturity, in days** 

**(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;63.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;2.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;1.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;1.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;13.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;18.3% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since February 28, 2025. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

Effective January 1, 2026, the Fund's contractual management fee is calculated at the annual rate of 0.15% of the Fund's average daily net assets.

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

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

![TSR_QRcode](images_2684.jpg)

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

O-GMKT-AR-CR **Invesco U.S. Government Money Portfolio**

![TSR_logo](images_2685.jpg)

### Invesco U.S. Government Money Portfolio

### Class C: GMCXX

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

#### This report describes changes to the Fund that occurred during the reporting period.

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco U.S. Government Money Portfolio<br>(Class C) | $1571.55%<sup>†</sup> |

---

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

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1128186982 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;78 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$3543475 |

---

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

**Composition by maturity, in days** 

**(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;63.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;2.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;1.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;1.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;13.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;18.3% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since February 28, 2025. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

Effective January 1, 2026, the Fund's contractual management fee is calculated at the annual rate of 0.15% of the Fund's average daily net assets.

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

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

![TSR_QRcode](images_2684.jpg)

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

O-GMKT-AR-C **Invesco U.S. Government Money Portfolio**

![TSR_logo](images_2685.jpg)

### Invesco U.S. Government Money Portfolio

### Class R: GMLXX

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

#### This report describes changes to the Fund that occurred during the reporting period.

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco U.S. Government Money Portfolio<br>(Class R) | $1061.04%<sup>†</sup> |

---

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

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1128186982 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;78 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$3543475 |

---

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

**Composition by maturity, in days** 

**(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;63.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;2.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;1.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;1.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;13.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;18.3% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since February 28, 2025. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

Effective January 1, 2026, the Fund's contractual management fee is calculated at the annual rate of 0.15% of the Fund's average daily net assets.

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

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

![TSR_QRcode](images_2684.jpg)

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

O-GMKT-AR-R **Invesco U.S. Government Money Portfolio**

![TSR_logo](images_2685.jpg)

### Invesco U.S. Government Money Portfolio

### Class Y: OMBXX

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

#### This report describes changes to the Fund that occurred during the reporting period.

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco U.S. Government Money Portfolio<br>(Class Y) | $550.54%<sup>†</sup> |

---

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

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1128186982 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;78 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$3543475 |

---

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

**Composition by maturity, in days** 

**(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;63.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;2.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;1.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;1.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;13.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;18.3% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since February 28, 2025. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

Effective January 1, 2026, the Fund's contractual management fee is calculated at the annual rate of 0.15% of the Fund's average daily net assets.

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

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

![TSR_QRcode](images_2684.jpg)

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

O-GMKT-AR-Y **Invesco U.S. Government Money Portfolio**

![TSR_logo](images_2685.jpg)

### Invesco U.S. Government Money Portfolio

### Class R6: GMRXX

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

#### This report describes changes to the Fund that occurred during the reporting period.

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

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco U.S. Government Money Portfolio<br>(Class R6) | $450.44%<sup>†</sup> |

---

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

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1128186982 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;78 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$3543475 |

---

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

**Composition by maturity, in days** 

**(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;63.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;2.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;1.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;1.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;13.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;18.3% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since February 28, 2025. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

Effective January 1, 2026, the Fund's contractual management fee is calculated at the annual rate of 0.15% of the Fund's average daily net assets.

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

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

![TSR_QRcode](images_2684.jpg)

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

O-GMKT-AR-R6 **Invesco U.S. Government Money Portfolio**

------

(b) Not applicable.

------

Item 2. Code of Ethics.

The Registrant has adopted a Code of Ethics (the "Code") that applies to the Registrant's Principal Executive Officer ("PEO") and Principal Financial Officer ("PFO"). This Code is filed as an exhibit to this report on Form N-CSR under Item 19(a)(1). No substantive amendments to this Code were made during the reporting period. There were no waivers for the fiscal year ended February 28, 2026.

------

Item 3. Audit Committee Financial Expert.

The Board of Trustees has determined that the Registrant has two audit committee financial experts serving on its Audit Committee: Anthony J. LaCava, Jr. and James Liddy. Each of these audit committee financial experts is "independent" within the meaning of that term as used in Form N-CSR.

------

Item 4. Principal Accountant Fees and Services.

------

(a) to (d)

#### Fees Billed by PwC Related to the Registrant
PricewaterhouseCoopers LLP ("PwC"), the Registrant's independent registered public accounting firm, billed the Registrant aggregate fees for services rendered to the Registrant for the last two fiscal years as shown in the following table. The Audit Committee pre-approved all audit and non-audit services provided to the Registrant.

---

| | | |
|:---|:---|:---|
|  | Fees Billed by PwC for Services Rendered to the Registrant for Fiscal Year Ended 2026  | Fees Billed by PwC for Services Rendered to the Registrant for Fiscal Year Ended 2025  |
| Audit Fees  | $390174 | $&nbsp;&nbsp;&nbsp;&nbsp; 385535 |
| Audit-Related Fees<sup>(</sup><sup>1)</sup>  | $19175 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Tax Fees<sup>(</sup><sup>2)</sup>  | $133818 | $153456 |
| All Other Fees  | <u>$0</u> | <u>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0</u> |
| Total Fees  | $543167 | $538991 |

---

(1) Audit-Related Fees for the fiscal year ended 2026 includes fees billed for reviewing regulatory filings. 

(2) Tax Fees for the fiscal years ended 2026 and 2025 includes fees billed for preparation of U.S. Tax Returns and Taxable Income calculations, including excise tax, year-to-date estimates for various book-to-tax differences and other tax services. 

#### Fees Billed by PwC Related to Invesco and Affiliates
PwC billed Invesco Advisers, Inc. ("Invesco"), the Registrant's investment adviser, and any entity controlling, controlled by or under common control with Invesco that provides ongoing services to the Registrant ("Affiliates") aggregate fees for pre-approved non-audit services rendered to Invesco and Affiliates for the last two fiscal years as shown in the following table. The Audit Committee pre-approved all non-audit services provided to Invesco and Affiliates that were required to be pre-approved.

---

| | | |
|:---|:---|:---|
|  | Fees Billed for Non- <br> Audit Services <br> Rendered to <br> Invesco and <br> Affiliates for Fiscal <br> Year Ended 2026 That <br> Were Required <br> to be Pre-Approved <br> by the Registrant's Audit Committee  | Fees Billed for Non- <br> Audit Services <br> Rendered to <br> Invesco and <br> Affiliates for Fiscal <br> Year Ended 2025 That <br> Were Required <br> to be Pre-Approved <br> by the Registrant's Audit Committee  |
| Audit-Related Fees<sup>(1)</sup>  | $1195000 | $1141000 |
| Tax Fees  | $&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | $&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| All Other Fees  | <u>$&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; 0</u> | <u>$&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; 0</u> |
| Total Fees  | $1195000 | $&nbsp;&nbsp;&nbsp;&nbsp; 1141000 |

---

------

(1) Audit-Related Fees for the fiscal years ended 2026 and 2025 include fees billed related to reviewing controls at a service organization.

#### (e)(1)

#### PRE-APPROVAL OF AUDIT AND NON-AUDIT SERVICES

#### POLICIES AND PROCEDURES
As adopted by the Audit Committees

of the Invesco Funds (the "Funds")

Last Amended March 29, 2017

I. **Statement of Principles** 

The Audit Committees (the "Audit Committee") of the Boards of Trustees of the Funds (the "Board") have adopted these policies and procedures (the "Procedures") with respect to the pre-approval of audit and non-audit services to be provided by the Funds' independent auditor (the "Auditor") to the Funds, and to the Funds' investment adviser(s) and any entity controlling, controlled by, or under common control with the investment adviser(s) that provides ongoing services to the Funds (collectively, "Service Affiliates").

Under Section 202 of the Sarbanes-Oxley Act of 2002, all audit and non-audit services provided to the Funds by the Auditor must be preapproved by the Audit Committee. Rule 2-01 of Regulation S-X requires that the Audit Committee also pre-approve a Service Affiliate's engagement of the Auditor for non-audit services if the engagement relates directly to the operations and financial reporting of the Funds (a "Service Affiliate's Covered Engagement").

These Procedures set forth the procedures and the conditions pursuant to which the Audit Committee may pre-approve audit and non-audit services for the Funds and a Service Affiliate's Covered Engagement pursuant to rules and regulations of the Securities and Exchange Commission ("SEC") and other organizations and regulatory bodies applicable to the Funds ("Applicable Rules").<sup>1</sup> They address both general pre-approvals without consideration of specific case-by-case services ("general pre-approvals") and pre-approvals on a case-by-case basis ("specific pre-approvals"). Any services requiring pre-approval that are not within the scope of general pre-approvals hereunder are subject to specific pre-approval. These Procedures also address the delegation by the Audit Committee of pre-approval authority to the Audit Committee Chair or Vice Chair.

II. **Pre-Approval of Fund Audit Services** 

The annual Fund audit services engagement, including terms and fees, is subject to specific pre-approval by the Audit Committee. Audit services include the annual financial statement audit and other procedures required to be performed by an independent auditor to be able to form an opinion on the Funds' financial statements. The Audit Committee will receive, review and consider sufficient information concerning a proposed Fund audit engagement to make a reasonable evaluation of the Auditor's qualifications and independence. The Audit Committee will oversee the Fund audit services engagement as necessary, including approving any changes in terms, audit scope, conditions and fees.

------

In addition to approving the Fund audit services engagement at least annually and specifically approving any changes, the Audit Committee may generally or specifically pre-approve engagements for other audit services, which are those services that only an independent auditor reasonably can provide. Other audit services may include services associated with SEC registration statements, periodic reports and other documents filed with the SEC.

III. **General and Specific Pre-Approval of Non-Audit Fund Services** 

The Audit Committee will consider, at least annually, the list of General Pre-Approved Non-Audit Services which list may be terminated or modified at any time by the Audit Committee. To inform the Audit Committee's review and approval of General Pre-Approved Non-Audit Services, the Funds' Treasurer (or his or her designee) and Auditor shall provide such information regarding independence or other matters as the Audit Committee may request.

Any services or fee ranges that are not within the scope of General Pre-Approved Non-Audit Services have not received general pre-approval and require specific pre-approval. Each request for specific pre-approval by the Audit Committee for services to be provided by the Auditor to the Funds must be submitted to the Audit Committee by the Funds' Treasurer (or his or her designee) and must include detailed information about the services to be provided, the fees or fee ranges to be charged, and other relevant information sufficient to allow the Audit Committee to consider whether to pre-approve such engagement, including evaluating whether the provision of such services will impair the independence of the Auditor and is otherwise consistent with Applicable Rules.

IV. **Non-Audit Service Types** 

The Audit Committee may provide either general or specific pre-approval of audit-related, tax or other services, each as described in more detail below.

a. <u>Audit-Related Services</u> 

"Audit-related services" are assurance and related services that are reasonably related to the performance of the audit or review of the Fund's financial statements or that are traditionally performed by an independent auditor. Audit-related services include, among others, accounting consultations related to accounting, financial reporting or disclosure matters not classified as "Audit services"; assistance with understanding and implementing new accounting and financial reporting guidance from rulemaking authorities; services related to mergers, acquisitions or dispositions; compliance with ratings agency requirements and interfund lending activities; and assistance with internal control reporting requirements.

b. <u>Tax Services</u> 

"Tax services" include, but are not limited to, the review and signing of the Funds' federal tax returns, the review of required distributions by the Funds and consultations regarding tax matters such as the tax treatment of new investments or the impact of new regulations. The Audit Committee will not approve proposed services of the Auditor which the Audit Committee believes are to be provided in connection with a service or transaction initially recommended by the Auditor, the sole business purpose of which may be tax avoidance and the tax treatment of which may not be supported in the Internal Revenue Code and related regulations. The Audit Committee will consult with the Funds' Treasurer (or his or her designee) and may consult with outside counsel or advisers as necessary to ensure the consistency of tax services rendered by the Auditor with the foregoing policy. The Auditor shall not represent any Fund or any Service Affiliate before a tax court, district court or federal court of claims.

------

Each request to provide tax services under either the general or specific pre-approval of the Audit Committee will include a description from the Auditor in writing of (i) the scope of the service, the fee structure for the engagement, and any side letter or other amendment to the engagement letter, or any other agreement (whether oral, written, or otherwise) between the Auditor and the Funds, relating to the service; and (ii) any compensation arrangement or other agreement, such as a referral agreement, a referral fee or fee-sharing arrangement, between the Auditor (or an affiliate of the Auditor) and any person (other than the Funds or Service Affiliates receiving the services) with respect to the promoting, marketing, or recommending of a transaction covered by the service. The Auditor will also discuss with the Audit Committee the potential effects of the services on the independence of the Auditor, and document the substance of its discussion with the Audit Committee.

c. <u>Other Services</u> 

The Audit Committee may pre-approve other non-audit services so long as the Audit Committee believes that the service will not impair the independence of the Auditor. <u>Appendix I</u> includes a list of services that the Auditor is prohibited from performing by the SEC rules. <u>Appendix I</u> also includes a list of services that would impair the Auditor's independence unless the Audit Committee reasonably concludes that the results of the services will not be subject to audit procedures during an audit of the Funds' financial statements.

V. **Pre-Approval of Service Affiliate's Covered Engagements** 

Rule 2-01 of Regulation S-X requires that the Audit Committee pre-approve a Service Affiliate's engagement of the Auditor for non-audit services if the engagement relates directly to the operations and financial reporting of the Funds, defined above as a "Service Affiliate's Covered Engagement".

The Audit Committee may provide either general or specific pre-approval of any Service Affiliate's Covered Engagement, including for audit-related, tax or other services, as described above, if the Audit Committee believes that the provision of the services to a Service Affiliate will not impair the independence of the Auditor with respect to the Funds. Any Service Affiliate's Covered Engagements that are not within the scope of General Pre-Approved Non-Audit Services have not received general pre-approval and require specific pre-approval.

Each request for specific pre-approval by the Audit Committee of a Service Affiliate's Covered Engagement must be submitted to the Audit Committee by the Funds' Treasurer (or his or her designee) and must include detailed information about the services to be provided, the fees or fee ranges to be charged, a description of the current status of the pre-approval process involving other audit committees in the Invesco investment company complex (as defined in Rule 2-201 of Regulation S-X) with respect to the proposed engagement, and other relevant information sufficient to allow the Audit Committee to consider whether the provision of such services will impair the independence of the Auditor from the Funds. Additionally, the Funds' Treasurer (or his or her designee) and the Auditor will provide the Audit Committee with a statement that the proposed engagement requires pre-approval by the Audit Committee, the proposed engagement, in their view, will not impair the independence of the Auditor and is consistent with Applicable Rules, and the description of the proposed engagement provided to the Audit Committee is consistent with that presented to or approved by the Invesco audit committee.

------

Information about all Service Affiliate engagements of the Auditor for non-audit services, whether or not subject to pre-approval by the Audit Committee, shall be provided to the Audit Committee at least quarterly, to allow the Audit Committee to consider whether the provision of such services is compatible with maintaining the Auditor's independence from the Funds. The Funds' Treasurer and Auditor shall provide the Audit Committee with sufficiently detailed information about the scope of services provided and the fees for such services, to ensure that the Audit Committee can adequately consider whether the provision of such services is compatible with maintaining the Auditor's independence from the Fund.

VI. **Pre-Approved Fee Levels or Established Amounts** 

Pre-approved fee levels or ranges for audit and non-audit services to be provided by the Auditor to the Funds, and for a Service Affiliate's Covered Engagement, under general pre-approval or specific pre-approval will be set periodically by the Audit Committee. Any proposed fees exceeding 110% of the maximum pre-approved fee levels or ranges for such services or engagements will be promptly presented to the Audit Committee and will require specific pre-approval by the Audit Committee before payment of any additional fees is made.

VII. **Delegation** 

The Audit Committee hereby delegates, subject to the dollar limitations set forth below, specific authority to its Chair, or in his or her absence, Vice Chair, to pre-approve audit and non-audit services proposed to be provided by the Auditor to the Funds and/or a Service Affiliate's Covered Engagement, between Audit Committee meetings. Such delegation does not preclude the Chair or Vice Chair from declining, on a case-by-case basis, to exercise his or her delegated authority and instead convening the Audit Committee to consider and pre-approve any proposed services or engagements.

Notwithstanding the foregoing, the Audit Committee must pre-approve: (a) any non-audit services to be provided to the Funds for which the fees are estimated to exceed $500,000; (b) any Service Affiliate's Covered Engagement for which the fees are estimated to exceed $500,000; or (c) any cost increase to any previously approved service or engagement that exceeds the greater of $250,000 or 50% of the previously approved fees up to a maximum increase of $500,000.

VIII. **Compliance with Procedures** 

Notwithstanding anything herein to the contrary, failure to pre-approve any services or engagements that are not required to be pre-approved pursuant to the de minimis exception provided for in Rule 2-01(c)(7)(i)(C) of Regulation S-X shall not constitute a violation of these Procedures. The Audit Committee has designated the Funds' Treasurer to ensure services and engagements are pre-approved in compliance with these Procedures. The Funds' Treasurer will immediately report to the Chair of the Audit Committee, or the Vice Chair in his or her absence, any breach of these Procedures that comes to the attention of the Funds' Treasurer or any services or engagements that are not required to be pre-approved pursuant to the de minimis exception provided for in Rule 2-01(c)(7)(i)(C) of Regulation S-X.

On at least an annual basis, the Auditor will provide the Audit Committee with a summary of all non-audit services provided to any entity in the investment company complex (as defined in section 2-01(f)(14) of Regulation S-X, including the Funds and Service Affiliates) that were not pre-approved, including the nature of services provided and the associated fees.

IX. **Amendments to Procedures** 

All material amendments to these Procedures must be approved in advance by the Audit Committee. Non-material amendments to these Procedures may be made by the Legal and Compliance Departments and will be reported to the Audit Committee at the next regularly scheduled meeting of the Audit Committee.

------

#### Appendix I

#### Non-Audit Services That May Impair the Auditor's Independence
The Auditor is not independent if, at any point during the audit and professional engagement, the Auditor provides the following non-audit services:

· Management functions; 

· Human resources; 

· Broker-dealer, investment adviser, or investment banking services; 

· Legal services; 

· Expert services unrelated to the audit; 

· Any service or product provided for a contingent fee or a commission; 

· Services related to marketing, planning, or opining in favor of the tax treatment of confidential transactions or aggressive tax position transactions, a significant purpose of which is tax avoidance; 

· Tax services for persons in financial reporting oversight roles at the Fund; and 

· Any other service that the Public Company Oversight Board determines by regulation is impermissible. 

An Auditor is not independent if, at any point during the audit and professional engagement, the Auditor provides the following non-audit services unless it is reasonable to conclude that the results of the services will not be subject to audit procedures during an audit of the Funds' financial statements:

· Bookkeeping or other services related to the accounting records or financial statements of the audit client; 

· Financial information systems design and implementation; 

· Appraisal or valuation services, fairness opinions, or contribution-in-kind reports; 

· Actuarial services; and 

· Internal audit outsourcing services. 

(e)(2) There were no amounts that were pre-approved by the Audit Committee pursuant to the de minimis exception under Rule 2-01 of Regulation S-X.

(f) Not applicable.

(g) In addition to the amounts shown in the tables above, PwC billed Invesco and Invesco Affiliates aggregate fees of $6,726,000 for the fiscal year ended February 28, 2026 and $6,489,000 for the fiscal year ended February 28, 2025. In total, PwC billed the Registrant, Invesco and Invesco Affiliates aggregate non-audit fees of $8,054,818 for the fiscal year ended February 28, 2026 and $7,783,456 for the fiscal year ended February 28, 2025.

PwC provided audit services to the Investment Company complex of approximately $35 million.

------

(h) The Audit Committee also has considered whether the provision of non-audit services that were rendered to Invesco and Invesco Affiliates that were not required to be pre-approved pursuant to SEC regulations, if any, is compatible with maintaining PwC's independence.

(i) Not applicable.

(j) Not applicable.

---

| | |
|:---|:---|
| 1  | Applicable Rules include, for example, New York Stock Exchange ("NYSE") rules applicable to closed-end funds managed by Invesco and listed on NYSE.  |

---

------

Item 5. Audit Committee of Listed Registrants.

Not applicable.

------

Item 6. Investments.

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

(b) Not applicable.

------

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

------

![](imgac2a26261.jpg)

------

**Annual Financial Statements and Other Information**

**February 28, 2026**

**Invesco Corporate Bond Fund**

Nasdaq:

A: ACCBX ■ C: ACCEX ■ R: ACCZX ■ Y: ACCHX ■ R5: ACCWX ■ R6: ICBFX

------

---

| | |
|:---|:---|
| [2](#xx_28847ab9-873e-4b66-8871-2af03b1ccd08_SOI-Continued-101_1) | Schedule of Investments |
| [31](#xx_28847ab9-873e-4b66-8871-2af03b1ccd08_FS-Continued-101_1) | Financial Statements |
| [34](#xx_28847ab9-873e-4b66-8871-2af03b1ccd08_FS-Continued-101_4) | Financial Highlights |
| [35](#xx_28847ab9-873e-4b66-8871-2af03b1ccd08_NTF-Continued-101_1) | Notes to Financial Statements |
| [43](#xx_28847ab9-873e-4b66-8871-2af03b1ccd08_ARS-Continued-101_1) | Report of Independent Registered Public Accounting Firm |
| [44](#xx_28847ab9-873e-4b66-8871-2af03b1ccd08_TI-Continued-101_1) | Tax Information |
| [45](#xx_28847ab9-873e-4b66-8871-2af03b1ccd08_OIRSR-Continued-101_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

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

*February 28, 2026*

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **U.S. Dollar Denominated Bonds & Notes–88.22%** | **U.S. Dollar Denominated Bonds & Notes–88.22%** | **U.S. Dollar Denominated Bonds & Notes–88.22%** | **U.S. Dollar Denominated Bonds & Notes–88.22%** |
| **Advertising–0.66%** | **Advertising–0.66%** | **Advertising–0.66%** | **Advertising–0.66%** |
| Clear Channel Outdoor Holdings, Inc., | Clear Channel Outdoor Holdings, Inc., |  |  |
| 7.13%, 02/15/2031<sup>(b)</sup> <br>|  | $270000 | &nbsp;&nbsp; $285532 |
| 7.50%, 03/15/2033<sup>(b)</sup> <br>|  | 270000 | &nbsp;&nbsp; 291622 |
| Lamar Media Corp., | Lamar Media Corp., |  |  |
| 4.88%, 01/15/2029 |  | 7000 | &nbsp;&nbsp; 7000 |
| 5.38%, 11/01/2033<sup>(b)(c)</sup> <br>|  | 3030000 | &nbsp;&nbsp; 3039581 |
| Omnicom Group, Inc., | Omnicom Group, Inc., |  |  |
| 4.20%, 03/02/2029 |  | 1874000 | &nbsp;&nbsp; 1878434 |
| 4.75%, 03/30/2030 |  | 1148000 | &nbsp;&nbsp; 1170882 |
| 5.00%, 06/02/2033 |  | 9408000 | &nbsp;&nbsp; 9413860 |
| 5.30%, 06/02/2036 |  | 11469000 | &nbsp;&nbsp; 11388970 |
|  |  |  | &nbsp;&nbsp; 27475881 |
| **Aerospace & Defense–1.43%** | **Aerospace & Defense–1.43%** | **Aerospace & Defense–1.43%** | **Aerospace & Defense–1.43%** |
| BAE Systems PLC (United <br> Kingdom), 5.13%, <br> 03/26/2029<sup>(b)</sup> <br>|  | 1724000 | &nbsp;&nbsp; 1786296 |
| Boeing Co. (The), | Boeing Co. (The), |  |  |
| 6.30%, 05/01/2029 |  | 1342000 | &nbsp;&nbsp; 1430376 |
| 6.39%, 05/01/2031 |  | 5000 | &nbsp;&nbsp; 5467 |
| 6.53%, 05/01/2034 |  | 2079000 | &nbsp;&nbsp; 2331657 |
| 5.81%, 05/01/2050 |  | 4918000 | &nbsp;&nbsp; 4941032 |
| 5.93%, 05/01/2060 |  | 31000 | &nbsp;&nbsp; 31114 |
| General Dynamics Corp., 4.95%, <br> 08/15/2035<br>|  | 1512000 | &nbsp;&nbsp; 1564417 |
| Hexcel Corp., 5.88%, <br> 02/26/2035<br>|  | 477000 | &nbsp;&nbsp; 508831 |
| Howmet Aerospace, Inc., | Howmet Aerospace, Inc., |  |  |
| 3.75%, 03/03/2028 |  | 3118000 | &nbsp;&nbsp; 3114978 |
| 3.90%, 04/15/2029 |  | 970000 | &nbsp;&nbsp; 971119 |
| 4.85%, 10/15/2031<sup>(c)</sup> <br>|  | 324000 | &nbsp;&nbsp; 336428 |
| 4.75%, 04/15/2036 |  | 2065000 | &nbsp;&nbsp; 2072260 |
| Huntington Ingalls Industries, Inc., | Huntington Ingalls Industries, Inc., |  |  |
| 5.35%, 01/15/2030 |  | 373000 | &nbsp;&nbsp; 387168 |
| 5.75%, 01/15/2035 |  | 1292000 | &nbsp;&nbsp; 1382583 |
| L3Harris Technologies, Inc., | L3Harris Technologies, Inc., |  |  |
| 5.40%, 07/31/2033 |  | 1792000 | &nbsp;&nbsp; 1888519 |
| 5.60%, 07/31/2053<sup>(c)</sup> <br>|  | 1062000 | &nbsp;&nbsp; 1069842 |
| Lockheed Martin Corp., | Lockheed Martin Corp., |  |  |
| 4.40%, 08/15/2030 |  | 2159000 | &nbsp;&nbsp; 2199443 |
| 4.75%, 02/15/2034 |  | 1003000 | &nbsp;&nbsp; 1031053 |
| 4.80%, 08/15/2034 |  | 678000 | &nbsp;&nbsp; 694265 |
| 4.50%, 05/15/2036 |  | 113000 | &nbsp;&nbsp; 112748 |
| 4.15%, 06/15/2053 |  | 21000 | &nbsp;&nbsp; 17183 |
| 4.30%, 06/15/2062 |  | 574000 | &nbsp;&nbsp; 465850 |
| 5.90%, 11/15/2063 |  | 685000 | &nbsp;&nbsp; 723631 |
| 5.20%, 02/15/2064 |  | 68000 | &nbsp;&nbsp; 64014 |
| Northrop Grumman Corp., | Northrop Grumman Corp., |  |  |
| 4.03%, 10/15/2047 |  | 114000 | &nbsp;&nbsp; 93586 |
| 4.95%, 03/15/2053 |  | 898000 | &nbsp;&nbsp; 827399 |
| RTX Corp., | RTX Corp., |  |  |
| 5.75%, 01/15/2029 |  | 1144000 | &nbsp;&nbsp; 1202893 |
| 6.00%, 03/15/2031 |  | 489000 | &nbsp;&nbsp; 530842 |
| 5.15%, 02/27/2033 |  | 1563000 | &nbsp;&nbsp; 1636158 |
| 6.10%, 03/15/2034 |  | 1564000 | &nbsp;&nbsp; 1729763 |
| 6.40%, 03/15/2054<sup>(c)</sup> <br>|  | 1272000 | &nbsp;&nbsp; 1422384 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Aerospace & Defense–(continued)** | **Aerospace & Defense–(continued)** | **Aerospace & Defense–(continued)** | **Aerospace & Defense–(continued)** |
| Textron, Inc., 4.95%, <br> 03/15/2036<br>|  | $2801000 | &nbsp;&nbsp; $2816571 |
| TransDigm, Inc., | TransDigm, Inc., |  |  |
| 6.75%, 08/15/2028<sup>(b)</sup> <br>|  | 4860000 | &nbsp;&nbsp; 4952607 |
| 6.38%, 03/01/2029<sup>(b)</sup> <br>|  | 10081000 | &nbsp;&nbsp; 10367613 |
| 6.88%, 12/15/2030<sup>(b)</sup> <br>|  | 510000 | &nbsp;&nbsp; 531087 |
| 7.13%, 12/01/2031<sup>(b)</sup> <br>|  | 340000 | &nbsp;&nbsp; 356776 |
| 6.00%, 01/15/2033<sup>(b)</sup> <br>|  | 621000 | &nbsp;&nbsp; 632447 |
| 6.38%, 05/31/2033<sup>(b)</sup> <br>|  | 2192000 | &nbsp;&nbsp; 2239036 |
| 6.25%, 01/31/2034<sup>(b)(c)</sup> <br>|  | 596000 | &nbsp;&nbsp; 616936 |
|  |  |  | &nbsp;&nbsp; 59086372 |
| **Agricultural & Farm Machinery–0.46%** | **Agricultural & Farm Machinery–0.46%** | **Agricultural & Farm Machinery–0.46%** | **Agricultural & Farm Machinery–0.46%** |
| AGCO Corp., | AGCO Corp., |  |  |
| 5.45%, 03/21/2027 |  | 140000 | &nbsp;&nbsp; 141785 |
| 5.80%, 03/21/2034 |  | 1052000 | &nbsp;&nbsp; 1112149 |
| CNH Industrial Capital LLC, <br> 4.75%, 03/21/2028<br>|  | 688000 | &nbsp;&nbsp; 697458 |
| Deere Funding Canada Corp., <br> 4.15%, 10/09/2030<sup>(c)</sup> <br>|  | 8954000 | &nbsp;&nbsp; 9012110 |
| Imperial Brands Finance PLC (United <br> Kingdom), | Imperial Brands Finance PLC (United <br> Kingdom), |  |  |
| 4.50%, 06/30/2028<sup>(b)</sup> <br>|  | 1517000 | &nbsp;&nbsp; 1533700 |
| 5.63%, 07/01/2035<sup>(b)</sup> <br>|  | 1346000 | &nbsp;&nbsp; 1394810 |
| 6.38%, 07/01/2055<sup>(b)</sup> <br>|  | 3170000 | &nbsp;&nbsp; 3297974 |
| John Deere Capital Corp., | John Deere Capital Corp., |  |  |
| 4.38%, 10/15/2030 |  | 45000 | &nbsp;&nbsp; 45808 |
| 5.10%, 04/11/2034 |  | 1729000 | &nbsp;&nbsp; 1807369 |
|  |  |  | &nbsp;&nbsp; 19043163 |
| **Agricultural Products & Services–0.66%** | **Agricultural Products & Services–0.66%** | **Agricultural Products & Services–0.66%** | **Agricultural Products & Services–0.66%** |
| Archer-Daniels-Midland Co., <br> 2.70%, 09/15/2051<sup>(c)</sup> <br>|  | 3965000 | &nbsp;&nbsp; 2494555 |
| Bunge Ltd. Finance Corp., | Bunge Ltd. Finance Corp., |  |  |
| 4.55%, 08/04/2030 |  | 8939000 | &nbsp;&nbsp; 9084149 |
| 5.15%, 08/04/2035<sup>(c)</sup> <br>|  | 5708000 | &nbsp;&nbsp; 5859114 |
| Cargill, Inc., | Cargill, Inc., |  |  |
| 4.13%, 10/23/2030<sup>(b)</sup> <br>|  | 2466000 | &nbsp;&nbsp; 2475704 |
| 5.13%, 10/11/2032<sup>(b)(c)</sup> <br>|  | 566000 | &nbsp;&nbsp; 595102 |
| 4.75%, 04/24/2033<sup>(b)</sup> <br>|  | 935000 | &nbsp;&nbsp; 951953 |
| 5.38%, 10/23/2055<sup>(b)</sup> <br>|  | 5861771 | &nbsp;&nbsp; 5714022 |
|  |  |  | &nbsp;&nbsp; 27174599 |
| **Air Freight & Logistics–0.20%** | **Air Freight & Logistics–0.20%** | **Air Freight & Logistics–0.20%** | **Air Freight & Logistics–0.20%** |
| GXO Logistics, Inc., | GXO Logistics, Inc., |  |  |
| 6.25%, 05/06/2029 |  | 1218000 | &nbsp;&nbsp; 1286159 |
| 6.50%, 05/06/2034 |  | 1335000 | &nbsp;&nbsp; 1453725 |
| United Parcel Service, Inc., | United Parcel Service, Inc., |  |  |
| 4.65%, 10/15/2030 |  | 29000 | &nbsp;&nbsp; 29974 |
| 5.15%, 05/22/2034<sup>(c)</sup> <br>|  | 1302000 | &nbsp;&nbsp; 1371393 |
| 5.25%, 05/14/2035<sup>(c)</sup> <br>|  | 757000 | &nbsp;&nbsp; 795867 |
| 5.50%, 05/22/2054<sup>(c)</sup> <br>|  | 3172000 | &nbsp;&nbsp; 3142503 |
| 5.95%, 05/14/2055 |  | 67000 | &nbsp;&nbsp; 70409 |
|  |  |  | &nbsp;&nbsp; 8150030 |
| **Apparel Retail–0.00%** | **Apparel Retail–0.00%** | **Apparel Retail–0.00%** | **Apparel Retail–0.00%** |
| Saks Global Enterprises LLC, <br> 11.00%, 12/31/2049<sup>(b)(d)</sup> <br>|  | 326310 | &nbsp;&nbsp; 2243 |

---

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

**2**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Apparel, Accessories & Luxury Goods–0.09%** | **Apparel, Accessories & Luxury Goods–0.09%** | **Apparel, Accessories & Luxury Goods–0.09%** | **Apparel, Accessories & Luxury Goods–0.09%** |
| Gildan Activewear, Inc. (Canada), | Gildan Activewear, Inc. (Canada), |  |  |
| 4.70%, 10/07/2030<sup>(b)</sup> <br>|  | $1403000 | &nbsp;&nbsp; $1412378 |
| 5.40%, 10/07/2035<sup>(b)(c)</sup> <br>|  | 2352000 | &nbsp;&nbsp; 2381030 |
|  |  |  | &nbsp;&nbsp; 3793408 |
| **Application Software–0.27%** | **Application Software–0.27%** | **Application Software–0.27%** | **Application Software–0.27%** |
| Autodesk, Inc., 5.30%, <br> 06/15/2035<br>|  | 18000 | &nbsp;&nbsp; 18452 |
| Black Pearl Compute LLC, 6.13%, <br> 02/15/2031<sup>(b)</sup> <br>|  | 3533000 | &nbsp;&nbsp; 3620272 |
| Cadence Design Systems, Inc., <br> 4.70%, 09/10/2034<br>|  | 15000 | &nbsp;&nbsp; 15135 |
| Cloud Software Group, Inc., | Cloud Software Group, Inc., |  |  |
| 9.00%, 09/30/2029<sup>(b)</sup> <br>|  | 329000 | &nbsp;&nbsp; 322533 |
| 8.25%, 06/30/2032<sup>(b)</sup> <br>|  | 510000 | &nbsp;&nbsp; 510863 |
| Intuit, Inc., 5.20%, 09/15/2033 |  | 18000 | &nbsp;&nbsp; 18673 |
| Roper Technologies, Inc., | Roper Technologies, Inc., |  |  |
| 4.45%, 09/15/2030 |  | 794000 | &nbsp;&nbsp; 798915 |
| 4.75%, 02/15/2032 |  | 276000 | &nbsp;&nbsp; 278531 |
| 4.90%, 10/15/2034<sup>(c)</sup> <br>|  | 1425000 | &nbsp;&nbsp; 1416898 |
| 5.10%, 09/15/2035<sup>(c)</sup> <br>|  | 3432000 | &nbsp;&nbsp; 3427299 |
| SS&C Technologies, Inc., 5.50%, <br> 09/30/2027<sup>(b)</sup> <br>|  | 576000 | &nbsp;&nbsp; 575574 |
| Synopsys, Inc., 5.70%, <br> 04/01/2055<br>|  | 12000 | &nbsp;&nbsp; 12001 |
|  |  |  | &nbsp;&nbsp; 11015146 |
| **Asset Management & Custody Banks–0.67%** | **Asset Management & Custody Banks–0.67%** | **Asset Management & Custody Banks–0.67%** | **Asset Management & Custody Banks–0.67%** |
| Affiliated Managers Group, Inc., <br> 5.50%, 08/20/2034<br>|  | 3710000 | &nbsp;&nbsp; 3802583 |
| Ameriprise Financial, Inc., | Ameriprise Financial, Inc., |  |  |
| 4.50%, 05/13/2032 |  | 403000 | &nbsp;&nbsp; 407567 |
| 5.15%, 05/15/2033<sup>(c)</sup> <br>|  | 1821000 | &nbsp;&nbsp; 1891859 |
| 5.20%, 04/15/2035 |  | 3579000 | &nbsp;&nbsp; 3643848 |
| Bank of New York Mellon Corp. (The), | Bank of New York Mellon Corp. (The), |  |  |
| 4.89%, 07/21/2028<sup>(e)</sup> <br>|  | 38000 | &nbsp;&nbsp; 38579 |
| 4.54%, 02/01/2029<sup>(e)</sup> <br>|  | 17000 | &nbsp;&nbsp; 17204 |
| 4.98%, 03/14/2030<sup>(e)</sup> <br>|  | 6000 | &nbsp;&nbsp; 6177 |
| 5.06%, 07/22/2032<sup>(e)</sup> <br>|  | 1441000 | &nbsp;&nbsp; 1499775 |
| 5.83%, 10/25/2033<sup>(e)</sup> <br>|  | 686000 | &nbsp;&nbsp; 743099 |
| 4.71%, 02/01/2034<sup>(e)</sup> <br>|  | 504000 | &nbsp;&nbsp; 511239 |
| 5.19%, 03/14/2035<sup>(c)(e)</sup> <br>|  | 298000 | &nbsp;&nbsp; 310108 |
| Series J, 4.97%, <br> 04/26/2034<sup>(e)</sup> <br>|  | 738000 | &nbsp;&nbsp; 758444 |
| BlackRock, Inc., 4.75%, <br> 05/25/2033<br>|  | 1718000 | &nbsp;&nbsp; 1771833 |
| Brookfield Asset Management Ltd. <br> (Canada), | Brookfield Asset Management Ltd. <br> (Canada), |  |  |
| 5.80%, 04/24/2035 |  | 2981000 | &nbsp;&nbsp; 3095696 |
| 6.08%, 09/15/2055<sup>(c)</sup> <br>|  | 1468000 | &nbsp;&nbsp; 1493659 |
| Carlyle Group, Inc. (The), 5.05%, <br> 09/19/2035<sup>(c)</sup> <br>|  | 2754000 | &nbsp;&nbsp; 2721885 |
| Citadel L.P., | Citadel L.P., |  |  |
| 6.00%, 01/23/2030<sup>(b)</sup> <br>|  | 230000 | &nbsp;&nbsp; 240538 |
| 6.38%, 01/23/2032<sup>(b)</sup> <br>|  | 584000 | &nbsp;&nbsp; 618332 |
| Northern Trust Corp., | Northern Trust Corp., |  |  |
| 4.15%, 11/19/2030 |  | 28000 | &nbsp;&nbsp; 28260 |
| 6.13%, 11/02/2032 |  | 939000 | &nbsp;&nbsp; 1029044 |
| 5.12%, 11/19/2040<sup>(e)</sup> <br>|  | 2665000 | &nbsp;&nbsp; 2673075 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Asset Management & Custody Banks–(continued)** | **Asset Management & Custody Banks–(continued)** | **Asset Management & Custody Banks–(continued)** | **Asset Management & Custody Banks–(continued)** |
| State Street Corp., | State Street Corp., |  |  |
| 4.65% (SOFR + 0.95%), <br> 04/24/2028<sup>(f)</sup> <br>|  | $24000 | &nbsp;&nbsp; $24132 |
| 5.68%, 11/21/2029<sup>(e)</sup> <br>|  | 29000 | &nbsp;&nbsp; 30344 |
| 4.73%, 02/28/2030 |  | 60000 | &nbsp;&nbsp; 61693 |
| 4.83%, 04/24/2030 |  | 31000 | &nbsp;&nbsp; 31940 |
| 6.12%, 11/21/2034<sup>(e)</sup> <br>|  | 25000 | &nbsp;&nbsp; 27178 |
| 5.15%, 02/28/2036<sup>(e)</sup> <br>|  | 79000 | &nbsp;&nbsp; 81502 |
| 4.78%, 10/23/2036<sup>(e)</sup> <br>|  | 21000 | &nbsp;&nbsp; 20994 |
|  |  |  | &nbsp;&nbsp; 27580587 |
| **Automobile Manufacturers–1.82%** | **Automobile Manufacturers–1.82%** | **Automobile Manufacturers–1.82%** | **Automobile Manufacturers–1.82%** |
| Allison Transmission, Inc., | Allison Transmission, Inc., |  |  |
| 4.75%, 10/01/2027<sup>(b)</sup> <br>|  | 6550000 | &nbsp;&nbsp; 6560050 |
| 3.75%, 01/30/2031<sup>(b)</sup> <br>|  | 1280000 | &nbsp;&nbsp; 1218351 |
| 5.88%, 12/01/2033<sup>(b)</sup> <br>|  | 298000 | &nbsp;&nbsp; 304486 |
| American Honda Finance Corp., <br> 4.60%, 04/17/2030<br>|  | 360000 | &nbsp;&nbsp; 366491 |
| Daimler Truck Finance North <br> America LLC (Germany), | Daimler Truck Finance North <br> America LLC (Germany), |  |  |
| 4.65%, 10/12/2030<sup>(b)(c)</sup> <br>|  | 1397000 | &nbsp;&nbsp; 1420266 |
| 5.00%, 10/12/2032<sup>(b)</sup> <br>|  | 6980000 | &nbsp;&nbsp; 7160245 |
| 5.63%, 01/13/2035<sup>(b)(c)</sup> <br>|  | 2373000 | &nbsp;&nbsp; 2493689 |
| Ford Motor Credit Co. LLC, | Ford Motor Credit Co. LLC, |  |  |
| 6.95%, 06/10/2026 |  | 2188000 | &nbsp;&nbsp; 2199408 |
| 2.70%, 08/10/2026 |  | 626000 | &nbsp;&nbsp; 621791 |
| 7.35%, 11/04/2027 |  | 1726000 | &nbsp;&nbsp; 1801365 |
| 5.92%, 03/20/2028 |  | 3239000 | &nbsp;&nbsp; 3327280 |
| 6.80%, 05/12/2028 |  | 2725000 | &nbsp;&nbsp; 2851052 |
| 6.80%, 11/07/2028 |  | 54000 | &nbsp;&nbsp; 56931 |
| 7.35%, 03/06/2030 |  | 48000 | &nbsp;&nbsp; 52037 |
| 7.20%, 06/10/2030 |  | 1453000 | &nbsp;&nbsp; 1569366 |
| Honda Motor Co. Ltd. (Japan), | Honda Motor Co. Ltd. (Japan), |  |  |
| 4.69%, 07/08/2030 |  | 2628000 | &nbsp;&nbsp; 2679576 |
| 5.34%, 07/08/2035<sup>(c)</sup> <br>|  | 8649000 | &nbsp;&nbsp; 8958342 |
| Hyundai Capital America, | Hyundai Capital America, |  |  |
| 5.50%, 03/30/2026<sup>(b)</sup> <br>|  | 13000 | &nbsp;&nbsp; 13013 |
| 4.88%, 06/23/2027<sup>(b)</sup> <br>|  | 1997000 | &nbsp;&nbsp; 2021688 |
| 5.00%, 01/07/2028<sup>(b)</sup> <br>|  | 2744000 | &nbsp;&nbsp; 2792350 |
| 4.25%, 01/08/2029<sup>(b)</sup> <br>|  | 6189000 | &nbsp;&nbsp; 6225867 |
| 5.35%, 03/19/2029<sup>(b)</sup> <br>|  | 7000 | &nbsp;&nbsp; 7248 |
| 5.30%, 01/08/2030<sup>(b)(c)</sup> <br>|  | 1231000 | &nbsp;&nbsp; 1281186 |
| 5.80%, 04/01/2030<sup>(b)</sup> <br>|  | 76000 | &nbsp;&nbsp; 80318 |
| Hyundai Capital Services, Inc. <br> (South Korea), 5.25%, <br> 01/22/2028<sup>(b)</sup> <br>|  | 2711000 | &nbsp;&nbsp; 2771795 |
| PACCAR Financial Corp., Series R, <br> 3.90%, 02/05/2029<br>|  | 5082000 | &nbsp;&nbsp; 5120194 |
| Toyota Motor Credit Corp., | Toyota Motor Credit Corp., |  |  |
| 4.55%, 08/09/2029 |  | 13000 | &nbsp;&nbsp; 13297 |
| 5.35%, 01/09/2035 |  | 4924000 | &nbsp;&nbsp; 5214142 |
| Volkswagen Group of America <br> Finance LLC (Germany), | Volkswagen Group of America <br> Finance LLC (Germany), |  |  |
| 5.25%, 03/22/2029<sup>(b)(c)</sup> <br>|  | 2652000 | &nbsp;&nbsp; 2724080 |
| 4.60%, 06/08/2029<sup>(b)</sup> <br>|  | 55000 | &nbsp;&nbsp; 55384 |
| 5.60%, 03/22/2034<sup>(b)</sup> <br>|  | 3173000 | &nbsp;&nbsp; 3302490 |
|  |  |  | &nbsp;&nbsp; 75263778 |

---

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

**3**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Automotive Parts & Equipment–0.38%** | **Automotive Parts & Equipment–0.38%** | **Automotive Parts & Equipment–0.38%** | **Automotive Parts & Equipment–0.38%** |
| American Axle & Manufacturing, Inc., | American Axle & Manufacturing, Inc., |  |  |
| 6.38%, 10/15/2032<sup>(b)</sup> <br>|  | $50000 | &nbsp;&nbsp; $50919 |
| 7.75%, 10/15/2033<sup>(b)(c)</sup> <br>|  | 950000 | &nbsp;&nbsp; 966155 |
| BMW US Capital LLC (Germany), <br> 4.50%, 08/11/2030<sup>(b)</sup> <br>|  | 881000 | &nbsp;&nbsp; 892942 |
| Clarios Global L.P./Clarios US Finance <br> Co., | Clarios Global L.P./Clarios US Finance <br> Co., |  |  |
| 6.75%, 02/15/2030<sup>(b)</sup> <br>|  | 759000 | &nbsp;&nbsp; 795402 |
| 6.75%, 09/15/2032<sup>(b)</sup> <br>|  | 110000 | &nbsp;&nbsp; 114246 |
| Cougar JV Subsidiary LLC, <br> 8.00%, 05/15/2032<sup>(b)</sup> <br>|  | 535000 | &nbsp;&nbsp; 570145 |
| ERAC USA Finance LLC, | ERAC USA Finance LLC, |  |  |
| 4.60%, 05/01/2028<sup>(b)</sup> <br>|  | 11000 | &nbsp;&nbsp; 11175 |
| 4.90%, 05/01/2033<sup>(b)</sup> <br>|  | 1763000 | &nbsp;&nbsp; 1811678 |
| Forvia SE (France), 8.00%, <br> 06/15/2030<sup>(b)(c)</sup> <br>|  | 624000 | &nbsp;&nbsp; 665304 |
| Magna International, Inc. <br> (Canada), 5.88%, <br> 06/01/2035<br>|  | 588000 | &nbsp;&nbsp; 631021 |
| NESCO Holdings II, Inc., 5.50%, <br> 04/15/2029<sup>(b)</sup> <br>|  | 600000 | &nbsp;&nbsp; 597364 |
| Phinia, Inc., | Phinia, Inc., |  |  |
| 6.75%, 04/15/2029<sup>(b)</sup> <br>|  | 5063000 | &nbsp;&nbsp; 5239137 |
| 6.63%, 10/15/2032<sup>(b)(c)</sup> <br>|  | 298000 | &nbsp;&nbsp; 309644 |
| ZF North America Capital, Inc. <br> (Germany), 7.50%, <br> 03/24/2031<sup>(b)</sup> <br>|  | 2906000 | &nbsp;&nbsp; 2996664 |
|  |  |  | &nbsp;&nbsp; 15651796 |
| **Automotive Retail–0.28%** | **Automotive Retail–0.28%** | **Automotive Retail–0.28%** | **Automotive Retail–0.28%** |
| Advance Auto Parts, Inc., | Advance Auto Parts, Inc., |  |  |
| 7.00%, 08/01/2030<sup>(b)(c)</sup> <br>|  | 1073000 | &nbsp;&nbsp; 1101510 |
| 7.38%, 08/01/2033<sup>(b)(c)</sup> <br>|  | 1258000 | &nbsp;&nbsp; 1290079 |
| AutoZone, Inc., | AutoZone, Inc., |  |  |
| 4.75%, 08/01/2032<sup>(c)</sup> <br>|  | 597000 | &nbsp;&nbsp; 606091 |
| 5.20%, 08/01/2033 |  | 1012000 | &nbsp;&nbsp; 1051407 |
| Carvana Co., 0.00% PIK Rate, <br> 9.00% Cash Rate, <br> 06/01/2031<sup>(b)(g)</sup> <br>|  | 546770 | &nbsp;&nbsp; 600082 |
| Group 1 Automotive, Inc., | Group 1 Automotive, Inc., |  |  |
| 4.00%, 08/15/2028<sup>(b)</sup> <br>|  | 1221000 | &nbsp;&nbsp; 1199029 |
| 6.38%, 01/15/2030<sup>(b)</sup> <br>|  | 559000 | &nbsp;&nbsp; 573317 |
| LCM Investments Holdings II LLC, <br> 8.25%, 08/01/2031<sup>(b)</sup> <br>|  | 538000 | &nbsp;&nbsp; 565804 |
| Lithia Motors, Inc., | Lithia Motors, Inc., |  |  |
| 5.50%, 10/01/2030<sup>(b)</sup> <br>|  | 1682000 | &nbsp;&nbsp; 1693665 |
| 4.38%, 01/15/2031<sup>(b)(c)</sup> <br>|  | 617000 | &nbsp;&nbsp; 593768 |
| O'Reilly Automotive, Inc., 5.00%, <br> 08/19/2034<br>|  | 2270000 | &nbsp;&nbsp; 2312460 |
|  |  |  | &nbsp;&nbsp; 11587212 |
| **Biotechnology–0.39%** | **Biotechnology–0.39%** | **Biotechnology–0.39%** | **Biotechnology–0.39%** |
| AbbVie, Inc., | AbbVie, Inc., |  |  |
| 5.05%, 03/15/2034 |  | 712000 | &nbsp;&nbsp; 739430 |
| 4.88%, 11/14/2048<sup>(c)</sup> <br>|  | 732000 | &nbsp;&nbsp; 676822 |
| 5.40%, 03/15/2054 |  | 171000 | &nbsp;&nbsp; 168059 |
| 5.50%, 03/15/2064 |  | 1980000 | &nbsp;&nbsp; 1949671 |
| Amgen, Inc., | Amgen, Inc., |  |  |
| 5.25%, 03/02/2030 |  | 993000 | &nbsp;&nbsp; 1036427 |
| 4.40%, 05/01/2045 |  | 379000 | &nbsp;&nbsp; 331939 |
| 5.65%, 03/02/2053 |  | 4076000 | &nbsp;&nbsp; 4071538 |
| 5.75%, 03/02/2063 |  | 3404000 | &nbsp;&nbsp; 3376608 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Biotechnology–(continued)** | **Biotechnology–(continued)** | **Biotechnology–(continued)** | **Biotechnology–(continued)** |
| Gilead Sciences, Inc., | Gilead Sciences, Inc., |  |  |
| 5.25%, 10/15/2033 |  | $1620000 | &nbsp;&nbsp; $1710122 |
| 5.55%, 10/15/2053<sup>(c)</sup> <br>|  | 2143000 | &nbsp;&nbsp; 2154360 |
|  |  |  | &nbsp;&nbsp; 16214976 |
| **Brewers–0.01%** | **Brewers–0.01%** | **Brewers–0.01%** | **Brewers–0.01%** |
| Anheuser-Busch InBev Worldwide, <br> Inc. (Belgium), 5.55%, <br> 01/23/2049<br>|  | 244000 | &nbsp;&nbsp; 245879 |
| **Broadcasting–0.07%** | **Broadcasting–0.07%** | **Broadcasting–0.07%** | **Broadcasting–0.07%** |
| Discovery Communications LLC, <br> 4.13%, 05/15/2029<br>|  | 616000 | &nbsp;&nbsp; 607934 |
| Gray Media, Inc., 9.63%, <br> 07/15/2032<sup>(b)</sup> <br>|  | 165000 | &nbsp;&nbsp; 171563 |
| Paramount Global, | Paramount Global, |  |  |
| 5.85%, 09/01/2043 |  | 1061000 | &nbsp;&nbsp; 786512 |
| 4.95%, 05/19/2050 |  | 1102000 | &nbsp;&nbsp; 697039 |
| Univision Communications, Inc., | Univision Communications, Inc., |  |  |
| 8.00%, 08/15/2028<sup>(b)</sup> <br>|  | 316000 | &nbsp;&nbsp; 324803 |
| 9.38%, 08/01/2032<sup>(b)(c)</sup> <br>|  | 240000 | &nbsp;&nbsp; 254160 |
|  |  |  | &nbsp;&nbsp; 2842011 |
| **Broadline Retail–0.00%** | **Broadline Retail–0.00%** | **Broadline Retail–0.00%** | **Broadline Retail–0.00%** |
| Macy's Retail Holdings LLC, <br> 6.13%, 03/15/2032<sup>(b)</sup> <br>|  | 75000 | &nbsp;&nbsp; 75606 |
| **Building Products–0.33%** | **Building Products–0.33%** | **Building Products–0.33%** | **Building Products–0.33%** |
| Carrier Global Corp., 5.90%, <br> 03/15/2034<br>|  | 416000 | &nbsp;&nbsp; 450215 |
| CRH America Finance, Inc., | CRH America Finance, Inc., |  |  |
| 4.40%, 02/09/2031<sup>(c)</sup> <br>|  | 3566000 | &nbsp;&nbsp; 3593958 |
| 5.00%, 02/09/2036 |  | 4584000 | &nbsp;&nbsp; 4652614 |
| 5.60%, 02/09/2056<sup>(c)</sup> <br>|  | 1307000 | &nbsp;&nbsp; 1307460 |
| Lennox International, Inc., <br> 5.50%, 09/15/2028<br>|  | 795000 | &nbsp;&nbsp; 823017 |
| Masco Corp., 3.13%, <br> 02/15/2051<br>|  | 3528000 | &nbsp;&nbsp; 2385106 |
| New Enterprise Stone & Lime Co., <br> Inc., 5.25%, 07/15/2028<sup>(b)</sup> <br>|  | 575000 | &nbsp;&nbsp; 577206 |
|  |  |  | &nbsp;&nbsp; 13789576 |
| **Cable & Satellite–0.64%** | **Cable & Satellite–0.64%** | **Cable & Satellite–0.64%** | **Cable & Satellite–0.64%** |
| CCO Holdings LLC/CCO Holdings Capital <br> Corp., | CCO Holdings LLC/CCO Holdings Capital <br> Corp., |  |  |
| 5.38%, 06/01/2029<sup>(b)</sup> <br>|  | 483000 | &nbsp;&nbsp; 482177 |
| 6.38%, 09/01/2029<sup>(b)</sup> <br>|  | 198000 | &nbsp;&nbsp; 200763 |
| 4.75%, 03/01/2030<sup>(b)</sup> <br>|  | 621000 | &nbsp;&nbsp; 600782 |
| 4.75%, 02/01/2032<sup>(b)(c)</sup> <br>|  | 399000 | &nbsp;&nbsp; 371332 |
| 4.50%, 05/01/2032<sup>(c)</sup> <br>|  | 1058000 | &nbsp;&nbsp; 968963 |
| 4.50%, 06/01/2033<sup>(b)(c)</sup> <br>|  | 688000 | &nbsp;&nbsp; 614984 |
| Charter Communications <br> Operating LLC/Charter <br> Communications Operating Capital <br> Corp., | Charter Communications <br> Operating LLC/Charter <br> Communications Operating Capital <br> Corp., |  |  |
| 6.65%, 02/01/2034<sup>(c)</sup> <br>|  | 2329000 | &nbsp;&nbsp; 2474564 |
| 5.85%, 12/01/2035<sup>(c)</sup> <br>|  | 2194000 | &nbsp;&nbsp; 2209028 |
| 5.75%, 04/01/2048 |  | 690000 | &nbsp;&nbsp; 601488 |
| 6.83%, 10/23/2055<sup>(c)</sup> <br>|  | 1253000 | &nbsp;&nbsp; 1230580 |
| 6.70%, 12/01/2055<sup>(c)</sup> <br>|  | 1959000 | &nbsp;&nbsp; 1912205 |

---

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

**4**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Cable & Satellite–(continued)** | **Cable & Satellite–(continued)** | **Cable & Satellite–(continued)** | **Cable & Satellite–(continued)** |
| Comcast Corp., | Comcast Corp., |  |  |
| 5.50%, 11/15/2032<sup>(c)</sup> <br>|  | $1537000 | &nbsp;&nbsp; $1640929 |
| 3.45%, 02/01/2050 |  | 139000 | &nbsp;&nbsp; 95730 |
| 2.89%, 11/01/2051 |  | 174000 | &nbsp;&nbsp; 105116 |
| 6.05%, 05/15/2055<sup>(c)</sup> <br>|  | 4755000 | &nbsp;&nbsp; 4872244 |
| Cox Communications, Inc., | Cox Communications, Inc., |  |  |
| 5.70%, 06/15/2033<sup>(b)</sup> <br>|  | 473000 | &nbsp;&nbsp; 481020 |
| 5.80%, 12/15/2053<sup>(b)</sup> <br>|  | 1875000 | &nbsp;&nbsp; 1637816 |
| Directv Financing LLC, 8.88%, <br> 02/01/2030<sup>(b)</sup> <br>|  | 148000 | &nbsp;&nbsp; 148236 |
| Directv Financing LLC/Directv Financing <br> Co-Obligor, Inc., | Directv Financing LLC/Directv Financing <br> Co-Obligor, Inc., |  |  |
| 5.88%, 08/15/2027<sup>(b)</sup> <br>|  | 119000 | &nbsp;&nbsp; 119213 |
| 10.00%, 02/15/2031<sup>(b)</sup> <br>|  | 75000 | &nbsp;&nbsp; 76765 |
| Sinclair Television Group, Inc., <br> 8.13%, 02/15/2033<sup>(b)</sup> <br>|  | 112000 | &nbsp;&nbsp; 116704 |
| Sirius XM Radio LLC, 5.00%, <br> 08/01/2027<sup>(b)</sup> <br>|  | 4800000 | &nbsp;&nbsp; 4800122 |
| Versant Media Group, Inc., <br> 7.25%, 01/30/2031<sup>(b)(c)</sup> <br>|  | 587000 | &nbsp;&nbsp; 601105 |
|  |  |  | &nbsp;&nbsp; 26361866 |
| **Cargo Ground Transportation–0.43%** | **Cargo Ground Transportation–0.43%** | **Cargo Ground Transportation–0.43%** | **Cargo Ground Transportation–0.43%** |
| Fedex Freight Holding Co., Inc., | Fedex Freight Holding Co., Inc., |  |  |
| 4.30%, 03/15/2029<sup>(b)</sup> <br>|  | 3408000 | &nbsp;&nbsp; 3416342 |
| 4.65%, 03/15/2031<sup>(b)</sup> <br>|  | 3278000 | &nbsp;&nbsp; 3297245 |
| 4.95%, 03/15/2033<sup>(b)</sup> <br>|  | 651000 | &nbsp;&nbsp; 651211 |
| 5.25%, 03/15/2036<sup>(b)</sup> <br>|  | 3785000 | &nbsp;&nbsp; 3774749 |
| Penske Truck Leasing Co. L.P./PTL <br> Finance Corp., | Penske Truck Leasing Co. L.P./PTL <br> Finance Corp., |  |  |
| 5.35%, 01/12/2027<sup>(b)</sup> <br>|  | 4000 | &nbsp;&nbsp; 4041 |
| 4.40%, 07/01/2027<sup>(b)</sup> <br>|  | 989000 | &nbsp;&nbsp; 993709 |
| 5.70%, 02/01/2028<sup>(b)</sup> <br>|  | 441000 | &nbsp;&nbsp; 453360 |
| 5.55%, 05/01/2028<sup>(b)</sup> <br>|  | 1254000 | &nbsp;&nbsp; 1291032 |
| 6.05%, 08/01/2028<sup>(b)</sup> <br>|  | 910000 | &nbsp;&nbsp; 949069 |
| 6.20%, 06/15/2030<sup>(b)</sup> <br>|  | 292000 | &nbsp;&nbsp; 313733 |
| 4.55%, 01/15/2031<sup>(b)</sup> <br>|  | 2095000 | &nbsp;&nbsp; 2108853 |
| Ryder System, Inc., 4.90%, <br> 12/01/2029<br>|  | 598000 | &nbsp;&nbsp; 614694 |
|  |  |  | &nbsp;&nbsp; 17868038 |
| **Casinos & Gaming–0.05%** | **Casinos & Gaming–0.05%** | **Casinos & Gaming–0.05%** | **Casinos & Gaming–0.05%** |
| Melco Resorts Finance Ltd. <br> (Hong Kong), 6.50%, <br> 09/24/2033<sup>(b)(c)</sup> <br>|  | 600000 | &nbsp;&nbsp; 598980 |
| Studio City Finance Ltd. (Macau), <br> 5.00%, 01/15/2029<sup>(b)(c)</sup> <br>|  | 902000 | &nbsp;&nbsp; 872906 |
| Voyager Parent LLC, 9.25%, <br> 07/01/2032<sup>(b)</sup> <br>|  | 545000 | &nbsp;&nbsp; 582300 |
|  |  |  | &nbsp;&nbsp; 2054186 |
| **Commercial & Residential Mortgage Finance–0.31%** | **Commercial & Residential Mortgage Finance–0.31%** | **Commercial & Residential Mortgage Finance–0.31%** | **Commercial & Residential Mortgage Finance–0.31%** |
| Aviation Capital Group LLC, | Aviation Capital Group LLC, |  |  |
| 6.25%, 04/15/2028<sup>(b)</sup> <br>|  | 812000 | &nbsp;&nbsp; 844369 |
| 6.75%, 10/25/2028<sup>(b)</sup> <br>|  | 1158000 | &nbsp;&nbsp; 1229147 |
| 4.25%, 04/30/2029<sup>(b)</sup> <br>|  | 950000 | &nbsp;&nbsp; 950266 |
| 4.80%, 10/24/2030<sup>(b)</sup> <br>|  | 4521000 | &nbsp;&nbsp; 4569839 |
| Nationstar Mortgage Holdings, Inc., | Nationstar Mortgage Holdings, Inc., |  |  |
| 6.50%, 08/01/2029<sup>(b)</sup> <br>|  | 552000 | &nbsp;&nbsp; 560280 |
| 7.13%, 02/01/2032<sup>(b)</sup> <br>|  | 531000 | &nbsp;&nbsp; 531000 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Commercial & Residential Mortgage Finance–(continued)** | **Commercial & Residential Mortgage Finance–(continued)** | **Commercial & Residential Mortgage Finance–(continued)** | **Commercial & Residential Mortgage Finance–(continued)** |
| Nationwide Building Society <br> (United Kingdom), 6.56%, <br> 10/18/2027<sup>(b)(e)</sup> <br>|  | $1583000 | &nbsp;&nbsp; $1608220 |
| PennyMac Financial Services, Inc., <br> 4.25%, 02/15/2029<sup>(b)</sup> <br>|  | 302000 | &nbsp;&nbsp; 290556 |
| Radian Group, Inc., 6.20%, <br> 05/15/2029<sup>(c)</sup> <br>|  | 735000 | &nbsp;&nbsp; 772028 |
| Rocket Cos., Inc., 6.13%, <br> 08/01/2030<sup>(b)</sup> <br>|  | 662000 | &nbsp;&nbsp; 679556 |
| Rocket Mortgage LLC/Rocket <br> Mortgage Co-Issuer, Inc., <br> 2.88%, 10/15/2026<sup>(b)</sup> <br>|  | 236000 | &nbsp;&nbsp; 233288 |
| Walker & Dunlop, Inc., 6.63%, <br> 04/01/2033<sup>(b)</sup> <br>|  | 555000 | &nbsp;&nbsp; 549102 |
|  |  |  | &nbsp;&nbsp; 12817651 |
| **Commodity Chemicals–0.08%** | **Commodity Chemicals–0.08%** | **Commodity Chemicals–0.08%** | **Commodity Chemicals–0.08%** |
| Cerdia Finanz GmbH (Germany), <br> 9.38%, 10/03/2031<sup>(b)</sup> <br>|  | 540000 | &nbsp;&nbsp; 553500 |
| Westlake Corp., 3.13%, <br> 08/15/2051<br>|  | 4224000 | &nbsp;&nbsp; 2632443 |
|  |  |  | &nbsp;&nbsp; 3185943 |
| **Computer & Electronics Retail–0.23%** | **Computer & Electronics Retail–0.23%** | **Computer & Electronics Retail–0.23%** | **Computer & Electronics Retail–0.23%** |
| Dell International LLC/EMC Corp., | Dell International LLC/EMC Corp., |  |  |
| 5.50%, 04/01/2035<sup>(c)</sup> <br>|  | 4990000 | &nbsp;&nbsp; 5191659 |
| 8.10%, 07/15/2036 |  | 132000 | &nbsp;&nbsp; 160601 |
| Leidos, Inc., | Leidos, Inc., |  |  |
| 4.10%, 03/15/2029 |  | 3443000 | &nbsp;&nbsp; 3452355 |
| 5.75%, 03/15/2033 |  | 840000 | &nbsp;&nbsp; 892258 |
|  |  |  | &nbsp;&nbsp; 9696873 |
| **Construction & Engineering–0.03%** | **Construction & Engineering–0.03%** | **Construction & Engineering–0.03%** | **Construction & Engineering–0.03%** |
| AECOM, 6.00%, 08/01/2033<sup>(b)</sup> <br>|  | 579000 | &nbsp;&nbsp; 592000 |
| Great Lakes Dredge & Dock Corp., <br> 5.25%, 06/01/2029<sup>(b)</sup> <br>|  | 608000 | &nbsp;&nbsp; 606820 |
|  |  |  | &nbsp;&nbsp; 1198820 |
| **Construction Machinery & Heavy Transportation Equipment–**<br> **1.14%** | **Construction Machinery & Heavy Transportation Equipment–**<br> **1.14%** | **Construction Machinery & Heavy Transportation Equipment–**<br> **1.14%** | **Construction Machinery & Heavy Transportation Equipment–**<br> **1.14%** |
| Caterpillar Financial Services Corp., | Caterpillar Financial Services Corp., |  |  |
| 3.75%, 02/23/2029 |  | 14501000 | &nbsp;&nbsp; 14512346 |
| 4.20% (SOFR + 0.49%), <br> 02/23/2029<sup>(f)</sup> <br>|  | 7443000 | &nbsp;&nbsp; 7470657 |
| Caterpillar, Inc., | Caterpillar, Inc., |  |  |
| 5.20%, 05/15/2035<sup>(c)</sup> <br>|  | 1564000 | &nbsp;&nbsp; 1639043 |
| 5.50%, 05/15/2055 |  | 22000 | &nbsp;&nbsp; 22790 |
| Cummins, Inc., | Cummins, Inc., |  |  |
| 4.70%, 02/15/2031 |  | 4380000 | &nbsp;&nbsp; 4508566 |
| 5.15%, 02/20/2034<sup>(c)</sup> <br>|  | 1287000 | &nbsp;&nbsp; 1343044 |
| 5.30%, 05/09/2035 |  | 2543000 | &nbsp;&nbsp; 2668084 |
| 5.45%, 02/20/2054<sup>(c)</sup> <br>|  | 1644000 | &nbsp;&nbsp; 1647511 |
| Komatsu Finance America, Inc., <br> 4.20%, 09/18/2030<sup>(b)</sup> <br>|  | 3542000 | &nbsp;&nbsp; 3564940 |
| Westinghouse Air Brake Technologies <br> Corp., | Westinghouse Air Brake Technologies <br> Corp., |  |  |
| 4.90%, 05/29/2030 |  | 2119000 | &nbsp;&nbsp; 2183379 |
| 5.50%, 05/29/2035<sup>(c)</sup> <br>|  | 7164000 | &nbsp;&nbsp; 7541889 |
|  |  |  | &nbsp;&nbsp; 47102249 |

---

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

**5**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Construction Materials–0.08%** | **Construction Materials–0.08%** | **Construction Materials–0.08%** | **Construction Materials–0.08%** |
| JH North America Holdings, Inc., | JH North America Holdings, Inc., |  |  |
| 5.88%, 01/31/2031<sup>(b)</sup> <br>|  | $1402000 | &nbsp;&nbsp; $1432643 |
| 6.13%, 07/31/2032<sup>(b)</sup> <br>|  | 1947000 | &nbsp;&nbsp; 1999655 |
|  |  |  | &nbsp;&nbsp; 3432298 |
| **Consumer Electronics–0.21%** | **Consumer Electronics–0.21%** | **Consumer Electronics–0.21%** | **Consumer Electronics–0.21%** |
| LG Electronics, Inc. (South Korea), | LG Electronics, Inc. (South Korea), |  |  |
| 5.63%, 04/24/2027<sup>(b)</sup> <br>|  | 1598000 | &nbsp;&nbsp; 1627968 |
| 5.63%, 04/24/2029<sup>(b)</sup> <br>|  | 1692500 | &nbsp;&nbsp; 1767042 |
| Tyco Electronics Group S.A. <br> (Switzerland), | Tyco Electronics Group S.A. <br> (Switzerland), |  |  |
| 4.50%, 02/09/2031 |  | 1987000 | &nbsp;&nbsp; 2022696 |
| 4.88%, 02/09/2036<sup>(c)</sup> <br>|  | 3316000 | &nbsp;&nbsp; 3369747 |
|  |  |  | &nbsp;&nbsp; 8787453 |
| **Consumer Finance–1.38%** | **Consumer Finance–1.38%** | **Consumer Finance–1.38%** | **Consumer Finance–1.38%** |
| American Express Co., | American Express Co., |  |  |
| 5.65%, 04/23/2027<sup>(e)</sup> <br>|  | 34000 | &nbsp;&nbsp; 34076 |
| 4.73%, 04/25/2029<sup>(e)</sup> <br>|  | 30000 | &nbsp;&nbsp; 30500 |
| 4.35%, 07/20/2029<sup>(e)</sup> <br>|  | 95000 | &nbsp;&nbsp; 95905 |
| 4.51% (SOFR + 0.81%), <br> 07/20/2029<sup>(f)</sup> <br>|  | 140000 | &nbsp;&nbsp; 140289 |
| 5.53%, 04/25/2030<sup>(e)</sup> <br>|  | 3882000 | &nbsp;&nbsp; 4057338 |
| 4.72% (SOFR + 1.02%), <br> 01/30/2031<sup>(c)(f)</sup> <br>|  | 432000 | &nbsp;&nbsp; 434307 |
| 5.02%, 04/25/2031<sup>(c)(e)</sup> <br>|  | 3242000 | &nbsp;&nbsp; 3350345 |
| 4.92%, 07/20/2033<sup>(e)</sup> <br>|  | 3283000 | &nbsp;&nbsp; 3363928 |
| 5.44%, 01/30/2036<sup>(e)</sup> <br>|  | 1773000 | &nbsp;&nbsp; 1848463 |
| 5.67%, 04/25/2036<sup>(e)</sup> <br>|  | 2222000 | &nbsp;&nbsp; 2353982 |
| 4.80%, 10/24/2036<sup>(e)</sup> <br>|  | 9873000 | &nbsp;&nbsp; 9781808 |
| Bread Financial Holdings, Inc., <br> 8.38%, 06/15/2035<sup>(b)(e)</sup> <br>|  | 275000 | &nbsp;&nbsp; 280552 |
| Capital One Financial Corp., | Capital One Financial Corp., |  |  |
| 7.15%, 10/29/2027<sup>(e)</sup> <br>|  | 591000 | &nbsp;&nbsp; 602776 |
| 4.49%, 09/11/2031<sup>(e)</sup> <br>|  | 58000 | &nbsp;&nbsp; 58023 |
| 4.72%, 01/30/2032<sup>(e)</sup> <br>|  | 8222000 | &nbsp;&nbsp; 8280377 |
| 5.20%, 09/11/2036<sup>(e)</sup> <br>|  | 37000 | &nbsp;&nbsp; 36916 |
| 5.40%, 01/30/2037<sup>(e)</sup> <br>|  | 11583000 | &nbsp;&nbsp; 11692568 |
| EZCORP, Inc., 7.38%, <br> 04/01/2032<sup>(b)(c)</sup> <br>|  | 1654000 | &nbsp;&nbsp; 1775466 |
| FirstCash, Inc., 6.88%, <br> 03/01/2032<sup>(b)</sup> <br>|  | 715000 | &nbsp;&nbsp; 738775 |
| General Motors Financial Co., Inc., <br> Series B, 6.50%<sup>(e)(h)</sup> <br>|  | 200000 | &nbsp;&nbsp; 203357 |
| Navient Corp., | Navient Corp., |  |  |
| 9.38%, 07/25/2030 |  | 173000 | &nbsp;&nbsp; 175366 |
| 7.88%, 06/15/2032<sup>(c)</sup> <br>|  | 664000 | &nbsp;&nbsp; 618486 |
| OneMain Finance Corp., | OneMain Finance Corp., |  |  |
| 3.50%, 01/15/2027 |  | 4800000 | &nbsp;&nbsp; 4746936 |
| 6.63%, 05/15/2029 |  | 360000 | &nbsp;&nbsp; 367965 |
| 4.00%, 09/15/2030 |  | 171000 | &nbsp;&nbsp; 158000 |
| 7.13%, 11/15/2031 |  | 569000 | &nbsp;&nbsp; 582123 |
| 6.75%, 03/15/2032 |  | 260000 | &nbsp;&nbsp; 262343 |
| 7.13%, 09/15/2032<sup>(c)</sup> <br>|  | 360000 | &nbsp;&nbsp; 368607 |
| 6.50%, 03/15/2033<sup>(c)</sup> <br>|  | 82000 | &nbsp;&nbsp; 81332 |
| Synchrony Financial, 5.02%, <br> 07/29/2029<sup>(e)</sup> <br>|  | 525000 | &nbsp;&nbsp; 531879 |
|  |  |  | &nbsp;&nbsp; 57052788 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Consumer Staples Merchandise Retail–0.15%** | **Consumer Staples Merchandise Retail–0.15%** | **Consumer Staples Merchandise Retail–0.15%** | **Consumer Staples Merchandise Retail–0.15%** |
| Dollar General Corp., | Dollar General Corp., |  |  |
| 5.00%, 11/01/2032<sup>(c)</sup> <br>|  | $363000 | &nbsp;&nbsp; $372529 |
| 5.50%, 11/01/2052<sup>(c)</sup> <br>|  | 912000 | &nbsp;&nbsp; 896058 |
| Dollar Tree, Inc., 3.38%, <br> 12/01/2051<sup>(c)</sup> <br>|  | 3492000 | &nbsp;&nbsp; 2350402 |
| Target Corp., 5.00%, <br> 04/15/2035<sup>(c)</sup> <br>|  | 2279000 | &nbsp;&nbsp; 2340530 |
| Walmart, Inc., 4.50%, <br> 09/09/2052<br>|  | 70000 | &nbsp;&nbsp; 62615 |
|  |  |  | &nbsp;&nbsp; 6022134 |
| **Copper–0.01%** | **Copper–0.01%** | **Copper–0.01%** | **Copper–0.01%** |
| Freeport-McMoRan, Inc., 5.00%, <br> 09/01/2027<sup>(c)</sup> <br>|  | 403000 | &nbsp;&nbsp; 403317 |
| **Data Processing & Outsourced Services–0.51%** | **Data Processing & Outsourced Services–0.51%** | **Data Processing & Outsourced Services–0.51%** | **Data Processing & Outsourced Services–0.51%** |
| QTS Thunder Managing Issuer LLC, <br> 5.67%, 12/10/2030<br>|  | 21145000 | &nbsp;&nbsp; 21112906 |
| **Distillers & Vintners–0.06%** | **Distillers & Vintners–0.06%** | **Distillers & Vintners–0.06%** | **Distillers & Vintners–0.06%** |
| Brown-Forman Corp., 4.75%, <br> 04/15/2033<sup>(c)</sup> <br>|  | 425000 | &nbsp;&nbsp; 435844 |
| Constellation Brands, Inc., | Constellation Brands, Inc., |  |  |
| 4.80%, 05/01/2030<sup>(c)</sup> <br>|  | 544000 | &nbsp;&nbsp; 557961 |
| 4.90%, 05/01/2033<sup>(c)</sup> <br>|  | 330000 | &nbsp;&nbsp; 336283 |
| 4.95%, 11/01/2035<sup>(c)</sup> <br>|  | 1070000 | &nbsp;&nbsp; 1072430 |
|  |  |  | &nbsp;&nbsp; 2402518 |
| **Distributors–0.13%** | **Distributors–0.13%** | **Distributors–0.13%** | **Distributors–0.13%** |
| Genuine Parts Co., | Genuine Parts Co., |  |  |
| 6.50%, 11/01/2028 |  | 1772000 | &nbsp;&nbsp; 1861572 |
| 4.95%, 08/15/2029 |  | 1329000 | &nbsp;&nbsp; 1346730 |
| 6.88%, 11/01/2033<sup>(c)</sup> <br>|  | 1904000 | &nbsp;&nbsp; 2107231 |
|  |  |  | &nbsp;&nbsp; 5315533 |
| **Diversified Banks–14.29%** | **Diversified Banks–14.29%** | **Diversified Banks–14.29%** | **Diversified Banks–14.29%** |
| Africa Finance Corp. <br> (Supranational), 4.38%, <br> 04/17/2026<sup>(b)</sup> <br>|  | 7620000 | &nbsp;&nbsp; 7615278 |
| Australia and New Zealand Banking <br> Group Ltd. (Australia), | Australia and New Zealand Banking <br> Group Ltd. (Australia), |  |  |
| 6.74%, 12/08/2032<sup>(b)(c)</sup> <br>|  | 2500000 | &nbsp;&nbsp; 2798266 |
| 6.75%<sup>(b)(e)(h)</sup> <br>|  | 2512000 | &nbsp;&nbsp; 2534362 |
| Banco Bilbao Vizcaya Argentaria S.A. <br> (Spain), | Banco Bilbao Vizcaya Argentaria S.A. <br> (Spain), |  |  |
| 4.15%, 03/03/2029 |  | 3800000 | &nbsp;&nbsp; 3801520 |
| 4.58% (SOFR + 0.88%), <br> 03/03/2029<sup>(f)</sup> <br>|  | 6600000 | &nbsp;&nbsp; 6605511 |
| 9.38%<sup>(e)(h)</sup> <br>|  | 1203000 | &nbsp;&nbsp; 1342854 |
| Banco Santander S.A. (Spain), | Banco Santander S.A. (Spain), |  |  |
| 5.55%, 03/14/2028<sup>(e)</sup> <br>|  | 2000000 | &nbsp;&nbsp; 2030080 |
| 5.07%, 11/06/2030 |  | 5400000 | &nbsp;&nbsp; 5444366 |
| 5.13%, 11/06/2035 |  | 4200000 | &nbsp;&nbsp; 4228765 |
| 8.00%<sup>(e)(h)</sup> <br>|  | 63492 | &nbsp;&nbsp; 70280 |
| 9.63%<sup>(c)(e)(h)</sup> <br>|  | 1600000 | &nbsp;&nbsp; 1783491 |
| 9.63%<sup>(c)(e)(h)</sup> <br>|  | 1200000 | &nbsp;&nbsp; 1447512 |

---

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

**6**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Diversified Banks–(continued)** | **Diversified Banks–(continued)** | **Diversified Banks–(continued)** | **Diversified Banks–(continued)** |
| Bank of America Corp., | Bank of America Corp., |  |  |
| 4.53% (SOFR + 0.83%), <br> 01/24/2029<sup>(f)</sup> <br>|  | $39000 | &nbsp;&nbsp; $39164 |
| 5.20%, 04/25/2029<sup>(e)</sup> <br>|  | 1342000 | &nbsp;&nbsp; 1375080 |
| 4.71% (SOFR + 1.01%), <br> 01/24/2031<sup>(c)(f)</sup> <br>|  | 2030000 | &nbsp;&nbsp; 2041927 |
| 5.16%, 01/24/2031<sup>(c)(e)</sup> <br>|  | 651000 | &nbsp;&nbsp; 675818 |
| 4.46%, 02/06/2032<sup>(e)</sup> <br>|  | 7778000 | &nbsp;&nbsp; 7837936 |
| 5.43%, 08/15/2035<sup>(e)</sup> <br>|  | 2338000 | &nbsp;&nbsp; 2396123 |
| 2.48%, 09/21/2036<sup>(e)</sup> <br>|  | 269000 | &nbsp;&nbsp; 238122 |
| 7.75%, 05/14/2038 |  | 1450000 | &nbsp;&nbsp; 1779626 |
| 3.31%, 04/22/2042<sup>(e)</sup> <br>|  | 320000 | &nbsp;&nbsp; 255340 |
| 6.63%<sup>(c)(e)(h)</sup> <br>|  | 2854000 | &nbsp;&nbsp; 2989705 |
| Series N, 4.58% (SOFR + <br> 0.87%), 02/06/2032<sup>(f)</sup> <br>|  | 9922000 | &nbsp;&nbsp; 9908152 |
| Series DD, 6.30%<sup>(e)(h)</sup> <br>|  | 528000 | &nbsp;&nbsp; 529775 |
| Series RR, 4.38%<sup>(c)(e)(h)</sup> <br>|  | 3183000 | &nbsp;&nbsp; 3164125 |
| Series TT, 6.13%<sup>(e)(h)</sup> <br>|  | 87000 | &nbsp;&nbsp; 88223 |
| Bank of Montreal (Canada), | Bank of Montreal (Canada), |  |  |
| 7.70%, 05/26/2084<sup>(e)</sup> <br>|  | 200000 | &nbsp;&nbsp; 211949 |
| 7.30%, 11/26/2084<sup>(c)(e)</sup> <br>|  | 3311000 | &nbsp;&nbsp; 3526857 |
| Bank of New York Mellon (The), <br> 4.73%, 04/20/2029<sup>(e)</sup> <br>|  | 1126000 | &nbsp;&nbsp; 1145383 |
| Bank of Nova Scotia (The) (Canada), | Bank of Nova Scotia (The) (Canada), |  |  |
| 8.63%, 10/27/2082<sup>(e)</sup> <br>|  | 3421000 | &nbsp;&nbsp; 3617892 |
| 8.00%, 01/27/2084<sup>(c)(e)</sup> <br>|  | 3504000 | &nbsp;&nbsp; 3751305 |
| 6.88%, 10/27/2085<sup>(e)</sup> <br>|  | 5857000 | &nbsp;&nbsp; 6050047 |
| Banque Federative du Credit <br> Mutuel S.A. (France), 4.59%, <br> 10/16/2028<sup>(b)</sup> <br>|  | 200000 | &nbsp;&nbsp; 202492 |
| Barclays PLC (United Kingdom), | Barclays PLC (United Kingdom), |  |  |
| 4.22%, 05/24/2030<sup>(e)</sup> <br>|  | 3544000 | &nbsp;&nbsp; 3546367 |
| 4.64% (SOFR + 0.93%), <br> 05/24/2030<sup>(f)</sup> <br>|  | 1654000 | &nbsp;&nbsp; 1656560 |
| 5.37%, 02/25/2031<sup>(e)</sup> <br>|  | 1496000 | &nbsp;&nbsp; 1553168 |
| 4.52%, 02/24/2032<sup>(e)</sup> <br>|  | 2822000 | &nbsp;&nbsp; 2830120 |
| 6.69%, 09/13/2034<sup>(e)</sup> <br>|  | 77000 | &nbsp;&nbsp; 85735 |
| 5.21%, 02/24/2037<sup>(e)</sup> <br>|  | 5117000 | &nbsp;&nbsp; 5118083 |
| 3.33%, 11/24/2042<sup>(e)</sup> <br>|  | 423000 | &nbsp;&nbsp; 328976 |
| 5.86%, 08/11/2046<sup>(e)</sup> <br>|  | 2872000 | &nbsp;&nbsp; 2967393 |
| BNP Paribas S.A. (France), | BNP Paribas S.A. (France), |  |  |
| 5.14% (SOFR + 1.43%), <br> 05/09/2029<sup>(b)(f)</sup> <br>|  | 200000 | &nbsp;&nbsp; 202168 |
| 5.09%, 05/09/2031<sup>(b)(c)(e)</sup> <br>|  | 202000 | &nbsp;&nbsp; 207725 |
| 7.45%<sup>(b)(e)(h)</sup> <br>|  | 200000 | &nbsp;&nbsp; 211460 |
| BPCE S.A. (France), | BPCE S.A. (France), |  |  |
| 6.29%, 01/14/2036<sup>(b)(e)</sup> <br>|  | 3148000 | &nbsp;&nbsp; 3392037 |
| 6.92%, 01/14/2046<sup>(b)(e)</sup> <br>|  | 2138000 | &nbsp;&nbsp; 2306689 |
| 6.35%, 01/13/2047<sup>(b)(c)(e)</sup> <br>|  | 3757000 | &nbsp;&nbsp; 3768299 |
| Brundage-Bone Concrete Pumping <br> Holdings, Inc., 7.50%, <br> 02/01/2032<sup>(b)(c)</sup> <br>|  | 585000 | &nbsp;&nbsp; 596397 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Diversified Banks–(continued)** | **Diversified Banks–(continued)** | **Diversified Banks–(continued)** | **Diversified Banks–(continued)** |
| Citigroup, Inc., | Citigroup, Inc., |  |  |
| 5.17%, 02/13/2030<sup>(e)</sup> <br>|  | $697000 | &nbsp;&nbsp; $718274 |
| 4.54%, 09/19/2030<sup>(e)</sup> <br>|  | 1940000 | &nbsp;&nbsp; 1963211 |
| 5.17% (SOFR + 1.46%), <br> 05/07/2031<sup>(f)</sup> <br>|  | 4550000 | &nbsp;&nbsp; 4645467 |
| 4.50%, 09/11/2031<sup>(e)</sup> <br>|  | 4412000 | &nbsp;&nbsp; 4446582 |
| 6.17%, 05/25/2034<sup>(e)</sup> <br>|  | 2412000 | &nbsp;&nbsp; 2575643 |
| 5.83%, 02/13/2035<sup>(e)</sup> <br>|  | 2608000 | &nbsp;&nbsp; 2714406 |
| 3.88%, 01/24/2039<sup>(e)</sup> <br>|  | 256000 | &nbsp;&nbsp; 228880 |
| 5.41%, 09/19/2039<sup>(e)</sup> <br>|  | 3083000 | &nbsp;&nbsp; 3106320 |
| 2.90%, 11/03/2042<sup>(e)</sup> <br>|  | 258000 | &nbsp;&nbsp; 192515 |
| 5.61%, 03/04/2056<sup>(c)(e)</sup> <br>|  | 5475000 | &nbsp;&nbsp; 5504834 |
| 6.63%<sup>(c)(e)(h)</sup> <br>|  | 6048000 | &nbsp;&nbsp; 6256209 |
| Series AA, 7.63%<sup>(e)(h)</sup> <br>|  | 3949000 | &nbsp;&nbsp; 4187595 |
| Series BB, 7.20%<sup>(e)(h)</sup> <br>|  | 2927000 | &nbsp;&nbsp; 3038126 |
| Series DD, 7.00%<sup>(c)(e)(h)</sup> <br>|  | 3686000 | &nbsp;&nbsp; 3888336 |
| Series JJ, 6.50%<sup>(c)(e)(h)</sup> <br>|  | 8469000 | &nbsp;&nbsp; 8598084 |
| Series Z, 7.38%<sup>(c)(e)(h)</sup> <br>|  | 3898000 | &nbsp;&nbsp; 4068702 |
| Corporacion Financiera de <br> Desarrollo S.A. (Peru), 5.95%, <br> 04/30/2029<sup>(b)</sup> <br>|  | 7135000 | &nbsp;&nbsp; 7466706 |
| Credit Agricole S.A. (France), | Credit Agricole S.A. (France), |  |  |
| 5.22%, 05/27/2031<sup>(b)(e)</sup> <br>|  | 2540000 | &nbsp;&nbsp; 2627414 |
| 4.82%, 09/25/2033<sup>(b)(e)</sup> <br>|  | 6735000 | &nbsp;&nbsp; 6788774 |
| Federation des caisses Desjardins <br> du Quebec (Canada), 4.55%, <br> 08/23/2027<sup>(b)</sup> <br>|  | 93000 | &nbsp;&nbsp; 94097 |
| Fifth Third Bancorp, | Fifth Third Bancorp, |  |  |
| 6.34%, 07/27/2029<sup>(e)</sup> <br>|  | 170000 | &nbsp;&nbsp; 178787 |
| 4.77%, 07/28/2030<sup>(e)</sup> <br>|  | 608000 | &nbsp;&nbsp; 618289 |
| 5.63%, 01/29/2032<sup>(e)</sup> <br>|  | 219000 | &nbsp;&nbsp; 231060 |
| 4.57%, 04/29/2032<sup>(e)</sup> <br>|  | 12693000 | &nbsp;&nbsp; 12771114 |
| 4.34%, 04/25/2033<sup>(e)</sup> <br>|  | 680000 | &nbsp;&nbsp; 672911 |
| 5.14%, 01/29/2037<sup>(c)(e)</sup> <br>|  | 9339000 | &nbsp;&nbsp; 9371382 |
| Fifth Third Financial Corp., <br> 5.98%, 01/30/2030<sup>(e)</sup> <br>|  | 406000 | &nbsp;&nbsp; 425632 |
| HSBC Holdings PLC (United Kingdom), | HSBC Holdings PLC (United Kingdom), |  |  |
| 5.89%, 08/14/2027<sup>(e)</sup> <br>|  | 1879000 | &nbsp;&nbsp; 1895100 |
| 5.60%, 05/17/2028<sup>(e)</sup> <br>|  | 200000 | &nbsp;&nbsp; 203689 |
| 5.21%, 08/11/2028<sup>(e)</sup> <br>|  | 1018000 | &nbsp;&nbsp; 1034206 |
| 5.29%, 11/19/2030<sup>(e)</sup> <br>|  | 3044000 | &nbsp;&nbsp; 3156142 |
| 5.13%, 03/03/2031<sup>(e)</sup> <br>|  | 2539000 | &nbsp;&nbsp; 2620279 |
| 5.24%, 05/13/2031<sup>(e)</sup> <br>|  | 3586000 | &nbsp;&nbsp; 3715670 |
| 5.28% (SOFR + 1.57%), <br> 05/13/2031<sup>(f)</sup> <br>|  | 5840000 | &nbsp;&nbsp; 5980711 |
| 7.40%, 11/13/2034<sup>(e)</sup> <br>|  | 2162000 | &nbsp;&nbsp; 2477017 |
| 5.79%, 05/13/2036<sup>(e)</sup> <br>|  | 200000 | &nbsp;&nbsp; 212679 |
| 5.74%, 09/10/2036<sup>(e)</sup> <br>|  | 3193000 | &nbsp;&nbsp; 3306865 |
| 5.13%, 11/06/2036<sup>(e)</sup> <br>|  | 3093000 | &nbsp;&nbsp; 3125345 |
| 6.33%, 03/09/2044<sup>(e)</sup> <br>|  | 3432000 | &nbsp;&nbsp; 3792037 |
| 6.88%<sup>(e)(h)</sup> <br>|  | 2421000 | &nbsp;&nbsp; 2521186 |
| 7.05%<sup>(e)(h)</sup> <br>|  | 6283000 | &nbsp;&nbsp; 6547617 |
| ING Groep N.V. (Netherlands), <br> 5.34%, 03/19/2030<sup>(e)</sup> <br>|  | 1995000 | &nbsp;&nbsp; 2067231 |

---

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

**7**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Diversified Banks–(continued)** | **Diversified Banks–(continued)** | **Diversified Banks–(continued)** | **Diversified Banks–(continued)** |
| JPMorgan Chase & Co., | JPMorgan Chase & Co., |  |  |
| 5.57%, 04/22/2028<sup>(e)</sup> <br>|  | $24000 | &nbsp;&nbsp; $24434 |
| 4.32%, 04/26/2028<sup>(e)</sup> <br>|  | 692000 | &nbsp;&nbsp; 694477 |
| 4.85%, 07/25/2028<sup>(e)</sup> <br>|  | 538000 | &nbsp;&nbsp; 544344 |
| 4.92%, 01/24/2029<sup>(e)</sup> <br>|  | 14000 | &nbsp;&nbsp; 14259 |
| 5.30%, 07/24/2029<sup>(e)</sup> <br>|  | 19000 | &nbsp;&nbsp; 19559 |
| 6.09%, 10/23/2029<sup>(e)</sup> <br>|  | 20000 | &nbsp;&nbsp; 21015 |
| 5.01%, 01/23/2030<sup>(e)</sup> <br>|  | 430000 | &nbsp;&nbsp; 441816 |
| 5.58%, 04/22/2030<sup>(e)</sup> <br>|  | 939000 | &nbsp;&nbsp; 980841 |
| 5.00%, 07/22/2030<sup>(e)</sup> <br>|  | 1624000 | &nbsp;&nbsp; 1673190 |
| 4.60%, 10/22/2030<sup>(e)</sup> <br>|  | 1749000 | &nbsp;&nbsp; 1781639 |
| 5.14%, 01/24/2031<sup>(e)</sup> <br>|  | 1349000 | &nbsp;&nbsp; 1400087 |
| 5.10%, 04/22/2031<sup>(c)(e)</sup> <br>|  | 1736000 | &nbsp;&nbsp; 1800684 |
| 4.26%, 10/22/2031<sup>(e)</sup> <br>|  | 4154000 | &nbsp;&nbsp; 4167284 |
| 4.35%, 01/22/2032<sup>(e)</sup> <br>|  | 3559000 | &nbsp;&nbsp; 3578055 |
| 4.59%, 04/26/2033<sup>(e)</sup> <br>|  | 863000 | &nbsp;&nbsp; 872281 |
| 4.91%, 07/25/2033<sup>(e)</sup> <br>|  | 130000 | &nbsp;&nbsp; 133329 |
| 5.72%, 09/14/2033<sup>(e)</sup> <br>|  | 2117000 | &nbsp;&nbsp; 2243716 |
| 5.35%, 06/01/2034<sup>(e)</sup> <br>|  | 47000 | &nbsp;&nbsp; 49201 |
| 5.34%, 01/23/2035<sup>(e)</sup> <br>|  | 466000 | &nbsp;&nbsp; 485846 |
| 4.81%, 10/22/2036<sup>(e)</sup> <br>|  | 5162000 | &nbsp;&nbsp; 5154202 |
| 4.90%, 01/22/2037<sup>(e)</sup> <br>|  | 5692000 | &nbsp;&nbsp; 5728327 |
| 3.88%, 07/24/2038<sup>(e)</sup> <br>|  | 218000 | &nbsp;&nbsp; 197549 |
| 5.53%, 11/29/2045<sup>(c)(e)</sup> <br>|  | 2350000 | &nbsp;&nbsp; 2402952 |
| 4.26%, 02/22/2048<sup>(e)</sup> <br>|  | 354000 | &nbsp;&nbsp; 304510 |
| Series W, 4.91% (3 mo. Term <br> SOFR + 1.26%), <br> 05/15/2047<sup>(c)(f)</sup> <br>|  | 1373000 | &nbsp;&nbsp; 1255061 |
| Series CC, 6.51% (3 mo. Term <br> SOFR + 2.84%)<sup>(c)(f)(h)</sup> <br>|  | 657000 | &nbsp;&nbsp; 664862 |
| Series NN, 6.88%<sup>(c)(e)(h)</sup> <br>|  | 1890000 | &nbsp;&nbsp; 2012313 |
| Series OO, 6.50%<sup>(c)(e)(h)</sup> <br>|  | 7399000 | &nbsp;&nbsp; 7754808 |
| KeyCorp, 5.31%, 01/28/2037<sup>(e)</sup> <br>|  | 1932000 | &nbsp;&nbsp; 1949845 |
| Lloyds Banking Group PLC (United <br> Kingdom), | Lloyds Banking Group PLC (United <br> Kingdom), |  |  |
| 4.43%, 11/04/2031<sup>(e)</sup> <br>|  | 2041000 | &nbsp;&nbsp; 2051396 |
| 4.94%, 11/04/2036<sup>(e)</sup> <br>|  | 5552000 | &nbsp;&nbsp; 5522444 |
| Macquarie Bank Ltd. (Australia), <br> 4.16% (SOFR + 0.48%), <br> 02/03/2028<sup>(b)(c)(f)</sup> <br>|  | 4474000 | &nbsp;&nbsp; 4479278 |
| Manufacturers & Traders <br> Trust Co., 4.70%, <br> 01/27/2028<br>|  | 70000 | &nbsp;&nbsp; 71054 |
| Mitsubishi UFJ Financial Group, Inc. <br> (Japan), | Mitsubishi UFJ Financial Group, Inc. <br> (Japan), |  |  |
| 5.02%, 07/20/2028<sup>(e)</sup> <br>|  | 52000 | &nbsp;&nbsp; 52784 |
| 5.26%, 04/17/2030<sup>(e)</sup> <br>|  | 2594000 | &nbsp;&nbsp; 2686584 |
| 5.16%, 04/24/2031<sup>(c)(e)</sup> <br>|  | 3022000 | &nbsp;&nbsp; 3135874 |
| 5.18% (SOFR + 1.48%), <br> 04/24/2031<sup>(c)(f)</sup> <br>|  | 2850000 | &nbsp;&nbsp; 2915232 |
| 4.53%, 09/12/2031<sup>(e)</sup> <br>|  | 3432000 | &nbsp;&nbsp; 3473932 |
| 5.41%, 04/19/2034<sup>(c)(e)</sup> <br>|  | 1235000 | &nbsp;&nbsp; 1301894 |
| 5.43%, 04/17/2035<sup>(e)</sup> <br>|  | 3012000 | &nbsp;&nbsp; 3163669 |
| 5.57%, 01/16/2036<sup>(e)</sup> <br>|  | 200000 | &nbsp;&nbsp; 211323 |
| 5.62%, 04/24/2036<sup>(e)</sup> <br>|  | 11599000 | &nbsp;&nbsp; 12274821 |
| 5.19%, 09/12/2036<sup>(c)(e)</sup> <br>|  | 4365000 | &nbsp;&nbsp; 4472664 |
| 6.35%<sup>(e)(h)</sup> <br>|  | 5549000 | &nbsp;&nbsp; 5746572 |
| 8.20%<sup>(c)(e)(h)</sup> <br>|  | 3826000 | &nbsp;&nbsp; 4204066 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Diversified Banks–(continued)** | **Diversified Banks–(continued)** | **Diversified Banks–(continued)** | **Diversified Banks–(continued)** |
| Mizuho Financial Group, Inc. (Japan), | Mizuho Financial Group, Inc. (Japan), |  |  |
| 5.78%, 07/06/2029<sup>(e)</sup> <br>|  | $53000 | &nbsp;&nbsp; $55128 |
| 5.38%, 07/10/2030<sup>(c)(e)</sup> <br>|  | 2676000 | &nbsp;&nbsp; 2783794 |
| 4.71%, 07/08/2031<sup>(e)</sup> <br>|  | 4396000 | &nbsp;&nbsp; 4484019 |
| 4.95% (SOFR + 1.25%), <br> 07/08/2031<sup>(c)(f)</sup> <br>|  | 3809000 | &nbsp;&nbsp; 3871113 |
| 5.59%, 07/10/2035<sup>(e)</sup> <br>|  | 3276000 | &nbsp;&nbsp; 3474342 |
| 5.32%, 07/08/2036<sup>(c)(e)</sup> <br>|  | 5597000 | &nbsp;&nbsp; 5803095 |
| Morgan Stanley Bank N.A., <br> 5.02%, 01/12/2029<sup>(e)</sup> <br>|  | 1155000 | &nbsp;&nbsp; 1177490 |
| Morgan Stanley Private Bank N.A., | Morgan Stanley Private Bank N.A., |  |  |
| 4.21%, 02/08/2030<sup>(e)</sup> <br>|  | 5198000 | &nbsp;&nbsp; 5223436 |
| 4.48% (SOFR + 0.77%), <br> 02/08/2030<sup>(f)</sup> <br>|  | 11894000 | &nbsp;&nbsp; 11870462 |
| 4.73%, 07/18/2031<sup>(e)</sup> <br>|  | 3512000 | &nbsp;&nbsp; 3576960 |
| National Australia Bank Ltd. <br> (Australia), 5.90%, <br> 01/14/2036<sup>(b)(c)(e)</sup> <br>|  | 4254000 | &nbsp;&nbsp; 4541545 |
| National Securities Clearing Corp., <br> 5.10%, 11/21/2027<sup>(b)</sup> <br>|  | 74000 | &nbsp;&nbsp; 75717 |
| Nordea Bank Abp (Finland), | Nordea Bank Abp (Finland), |  |  |
| 4.25%, 08/28/2030<sup>(b)(c)</sup> <br>|  | 6241000 | &nbsp;&nbsp; 6312076 |
| 6.30%<sup>(b)(c)(e)(h)</sup> <br>|  | 3074000 | &nbsp;&nbsp; 3156027 |
| 6.75%<sup>(b)(c)(e)(h)</sup> <br>|  | 2627000 | &nbsp;&nbsp; 2714913 |
| Panama Infrastructure Receivable <br> Purchaser PLC (United <br> Kingdom), 0.00%, <br> 04/05/2032<sup>(b)(i)</sup> <br>|  | 1766000 | &nbsp;&nbsp; 1384623 |
| Pinnacle Bank, | Pinnacle Bank, |  |  |
| 5.63%, 02/15/2028 |  | 3269000 | &nbsp;&nbsp; 3340071 |
| 5.96%, 01/15/2036<sup>(e)</sup> <br>|  | 1683000 | &nbsp;&nbsp; 1711349 |
| PNC Financial Services Group, Inc. <br> (The), | PNC Financial Services Group, Inc. <br> (The), |  |  |
| 6.62%, 10/20/2027<sup>(e)</sup> <br>|  | 1037000 | &nbsp;&nbsp; 1054262 |
| 4.08%, 01/26/2029<sup>(e)</sup> <br>|  | 2462000 | &nbsp;&nbsp; 2470124 |
| 4.32% (SOFR + 0.62%), <br> 01/26/2029<sup>(f)</sup> <br>|  | 4064000 | &nbsp;&nbsp; 4064216 |
| 5.58%, 06/12/2029<sup>(e)</sup> <br>|  | 27000 | &nbsp;&nbsp; 27989 |
| 4.90%, 05/13/2031<sup>(e)</sup> <br>|  | 79000 | &nbsp;&nbsp; 81164 |
| 4.63%, 06/06/2033<sup>(e)</sup> <br>|  | 208000 | &nbsp;&nbsp; 207587 |
| 6.04%, 10/28/2033<sup>(e)</sup> <br>|  | 801000 | &nbsp;&nbsp; 870075 |
| 5.07%, 01/24/2034<sup>(e)</sup> <br>|  | 824000 | &nbsp;&nbsp; 851779 |
| 5.37%, 07/21/2036<sup>(e)</sup> <br>|  | 2210000 | &nbsp;&nbsp; 2292126 |
| 5.42%, 01/25/2041<sup>(e)</sup> <br>|  | 7194000 | &nbsp;&nbsp; 7275613 |
| Series U, 6.00%<sup>(e)(h)</sup> <br>|  | 50000 | &nbsp;&nbsp; 50443 |
| Series V, 6.20%<sup>(c)(e)(h)</sup> <br>|  | 1607000 | &nbsp;&nbsp; 1637067 |
| Series W, 6.25%<sup>(c)(e)(h)</sup> <br>|  | 1791000 | &nbsp;&nbsp; 1858782 |
| Royal Bank of Canada (Canada), | Royal Bank of Canada (Canada), |  |  |
| 5.00%, 02/01/2033 |  | 1191000 | &nbsp;&nbsp; 1236064 |
| 7.50%, 05/02/2084<sup>(e)</sup> <br>|  | 4297000 | &nbsp;&nbsp; 4539774 |
| 6.50%, 05/24/2086<sup>(e)</sup> <br>|  | 18504000 | &nbsp;&nbsp; 18488751 |

---

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

**8**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Diversified Banks–(continued)** | **Diversified Banks–(continued)** | **Diversified Banks–(continued)** | **Diversified Banks–(continued)** |
| Standard Chartered PLC (United <br> Kingdom), | Standard Chartered PLC (United <br> Kingdom), |  |  |
| 6.19%, 07/06/2027<sup>(b)(e)</sup> <br>|  | $877000 | &nbsp;&nbsp; $883229 |
| 6.75%, 02/08/2028<sup>(b)(e)</sup> <br>|  | 1037000 | &nbsp;&nbsp; 1062554 |
| 7.02%, 02/08/2030<sup>(b)(e)</sup> <br>|  | 1431000 | &nbsp;&nbsp; 1543219 |
| 5.01%, 10/15/2030<sup>(b)(e)</sup> <br>|  | 2359000 | &nbsp;&nbsp; 2415562 |
| 5.24%, 05/13/2031<sup>(b)(e)</sup> <br>|  | 2966000 | &nbsp;&nbsp; 3073694 |
| 5.39% (SOFR + 1.68%), <br> 05/13/2031<sup>(b)(f)</sup> <br>|  | 2944000 | &nbsp;&nbsp; 3028367 |
| 2.68%, 06/29/2032<sup>(b)(e)</sup> <br>|  | 3050000 | &nbsp;&nbsp; 2777884 |
| 7.75%<sup>(b)(e)(h)</sup> <br>|  | 1875000 | &nbsp;&nbsp; 1951744 |
| Sumitomo Mitsui Financial Group, Inc. <br> (Japan), | Sumitomo Mitsui Financial Group, Inc. <br> (Japan), |  |  |
| 5.33%, 03/03/2041<sup>(e)</sup> <br>|  | 9160000 | &nbsp;&nbsp; 9202578 |
| 6.60%<sup>(c)(e)(h)</sup> <br>|  | 2647000 | &nbsp;&nbsp; 2745394 |
| Sumitomo Mitsui Trust Bank Ltd. <br> (Japan), | Sumitomo Mitsui Trust Bank Ltd. <br> (Japan), |  |  |
| 5.65%, 09/14/2026<sup>(b)</sup> <br>|  | 42000 | &nbsp;&nbsp; 42383 |
| 5.55%, 09/14/2028<sup>(b)</sup> <br>|  | 76000 | &nbsp;&nbsp; 78944 |
| 4.35%, 09/11/2030<sup>(b)(c)</sup> <br>|  | 3413000 | &nbsp;&nbsp; 3458176 |
| 5.35%, 03/07/2034<sup>(b)</sup> <br>|  | 2190000 | &nbsp;&nbsp; 2303098 |
| Sumitomo Mitsui Trust Group, Inc. <br> (Japan), 5.42%, <br> 09/11/2036<sup>(b)(e)</sup> <br>|  | 1607000 | &nbsp;&nbsp; 1634778 |
| Toronto-Dominion Bank (The) (Canada), | Toronto-Dominion Bank (The) (Canada), |  |  |
| 4.93%, 10/15/2035 |  | 2618000 | &nbsp;&nbsp; 2640893 |
| 8.13%, 10/31/2082<sup>(e)</sup> <br>|  | 3042000 | &nbsp;&nbsp; 3185144 |
| 7.25%, 07/31/2084<sup>(e)</sup> <br>|  | 144000 | &nbsp;&nbsp; 150655 |
| U.S. Bancorp, | U.S. Bancorp, |  |  |
| 5.78%, 06/12/2029<sup>(e)</sup> <br>|  | 31000 | &nbsp;&nbsp; 32243 |
| 4.48%, 01/26/2032<sup>(c)(e)</sup> <br>|  | 14553000 | &nbsp;&nbsp; 14717424 |
| 5.84%, 06/12/2034<sup>(e)</sup> <br>|  | 43000 | &nbsp;&nbsp; 46198 |
| UBS AG (Switzerland), 4.21% <br> (SOFR + 0.50%), <br> 05/17/2027<sup>(f)</sup> <br>|  | 5627000 | &nbsp;&nbsp; 5632225 |
| Wells Fargo & Co., | Wells Fargo & Co., |  |  |
| 5.71%, 04/22/2028<sup>(e)</sup> <br>|  | 19000 | &nbsp;&nbsp; 19351 |
| 4.81%, 07/25/2028<sup>(e)</sup> <br>|  | 296000 | &nbsp;&nbsp; 299310 |
| 5.07% (SOFR + 1.37%), <br> 04/23/2029<sup>(c)(f)</sup> <br>|  | 2325000 | &nbsp;&nbsp; 2365115 |
| 5.57%, 07/25/2029<sup>(e)</sup> <br>|  | 644000 | &nbsp;&nbsp; 666326 |
| 6.30%, 10/23/2029<sup>(e)</sup> <br>|  | 690000 | &nbsp;&nbsp; 727777 |
| 4.18%, 01/23/2030<sup>(c)(e)</sup> <br>|  | 4749000 | &nbsp;&nbsp; 4766472 |
| 5.20%, 01/23/2030<sup>(e)</sup> <br>|  | 485000 | &nbsp;&nbsp; 500075 |
| 5.15%, 04/23/2031<sup>(e)</sup> <br>|  | 3114000 | &nbsp;&nbsp; 3224320 |
| 5.39%, 04/24/2034<sup>(e)</sup> <br>|  | 611000 | &nbsp;&nbsp; 636914 |
| 5.56%, 07/25/2034<sup>(e)</sup> <br>|  | 720000 | &nbsp;&nbsp; 757865 |
| 5.50%, 01/23/2035<sup>(e)</sup> <br>|  | 2201000 | &nbsp;&nbsp; 2306446 |
| 4.96%, 01/23/2037<sup>(e)</sup> <br>|  | 8942000 | &nbsp;&nbsp; 8979482 |
| 5.38%, 11/02/2043 |  | 1576000 | &nbsp;&nbsp; 1539087 |
| 4.75%, 12/07/2046<sup>(c)</sup> <br>|  | 662000 | &nbsp;&nbsp; 586770 |
| 5.43%, 01/23/2047<sup>(e)</sup> <br>|  | 15547000 | &nbsp;&nbsp; 15401182 |
| 4.61%, 04/25/2053<sup>(c)(e)</sup> <br>|  | 1174000 | &nbsp;&nbsp; 1012957 |
| 6.85%<sup>(e)(h)</sup> <br>|  | 2204000 | &nbsp;&nbsp; 2326108 |
| 7.63%<sup>(c)(e)(h)</sup> <br>|  | 1455000 | &nbsp;&nbsp; 1553501 |
| Series BB, 3.90%<sup>(e)(h)</sup> <br>|  | 1694000 | &nbsp;&nbsp; 1693273 |
| Westpac Banking Corp. (Australia), <br> 5.62%, 11/20/2035<sup>(e)</sup> <br>|  | 1662000 | &nbsp;&nbsp; 1740283 |
|  |  |  | &nbsp;&nbsp; 590718676 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Diversified Capital Markets–0.78%** | **Diversified Capital Markets–0.78%** | **Diversified Capital Markets–0.78%** | **Diversified Capital Markets–0.78%** |
| Credit Suisse Group AG (Switzerland), | Credit Suisse Group AG (Switzerland), |  |  |
| 4.50%<sup>(b)(d)(e)(h)(j)</sup> <br>|  | $3057000 | &nbsp;&nbsp; $870481 |
| 5.25%<sup>(b)(d)(e)(h)(j)</sup> <br>|  | 1903000 | &nbsp;&nbsp; 541879 |
| 7.25%<sup>(b)(d)(e)(h)(j)</sup> <br>|  | 330000 | &nbsp;&nbsp; 93967 |
| Sixth Street Lending Partners, <br> 6.13%, 07/15/2030<br>|  | 8000 | &nbsp;&nbsp; 8102 |
| SMBC Aviation Capital Finance DAC <br> (Ireland), | SMBC Aviation Capital Finance DAC <br> (Ireland), |  |  |
| 5.30%, 04/03/2029<sup>(b)</sup> <br>|  | 200000 | &nbsp;&nbsp; 206531 |
| 5.55%, 04/03/2034<sup>(b)</sup> <br>|  | 200000 | &nbsp;&nbsp; 209206 |
| UBS Group AG (Switzerland), | UBS Group AG (Switzerland), |  |  |
| 4.75%, 05/12/2028<sup>(b)(e)</sup> <br>|  | 1096000 | &nbsp;&nbsp; 1104995 |
| 5.43%, 02/08/2030<sup>(b)(e)</sup> <br>|  | 630000 | &nbsp;&nbsp; 653111 |
| 4.21%, 04/10/2030<sup>(b)(e)</sup> <br>|  | 7048000 | &nbsp;&nbsp; 7061557 |
| 4.40%, 09/23/2031<sup>(b)(e)</sup> <br>|  | 3327000 | &nbsp;&nbsp; 3337330 |
| 5.01%, 03/23/2037<sup>(b)(e)</sup> <br>|  | 3127000 | &nbsp;&nbsp; 3118131 |
| 5.53%, 05/06/2047<sup>(b)(e)</sup> <br>|  | 7845000 | &nbsp;&nbsp; 7854165 |
| 4.38%<sup>(b)(e)(h)</sup> <br>|  | 2080000 | &nbsp;&nbsp; 1894291 |
| 6.60%<sup>(b)(e)(h)</sup> <br>|  | 1149000 | &nbsp;&nbsp; 1156717 |
| 7.00%<sup>(b)(e)(h)</sup> <br>|  | 821000 | &nbsp;&nbsp; 834309 |
| 7.13%<sup>(b)(e)(h)</sup> <br>|  | 3202000 | &nbsp;&nbsp; 3282011 |
|  |  |  | &nbsp;&nbsp; 32226783 |
| **Diversified Financial Services–3.43%** | **Diversified Financial Services–3.43%** | **Diversified Financial Services–3.43%** | **Diversified Financial Services–3.43%** |
| AerCap Ireland Capital DAC/AerCap <br> Global Aviation Trust (Ireland), | AerCap Ireland Capital DAC/AerCap <br> Global Aviation Trust (Ireland), |  |  |
| 6.95%, 03/10/2055<sup>(e)</sup> <br>|  | 1056000 | &nbsp;&nbsp; 1116413 |
| 6.50%, 01/31/2056<sup>(e)</sup> <br>|  | 2684000 | &nbsp;&nbsp; 2784304 |
| Aircastle Ltd./Aircastle Ireland <br> DAC, 5.00%, 09/15/2030<sup>(b)</sup> <br>|  | 2269000 | &nbsp;&nbsp; 2320707 |
| Amrize Finance US LLC, | Amrize Finance US LLC, |  |  |
| 4.70%, 04/07/2028 |  | 1665000 | &nbsp;&nbsp; 1691154 |
| 4.95%, 04/07/2030 |  | 1174000 | &nbsp;&nbsp; 1208196 |
| Apollo Global Management, Inc., | Apollo Global Management, Inc., |  |  |
| 6.38%, 11/15/2033 |  | 1390000 | &nbsp;&nbsp; 1521147 |
| 5.15%, 08/12/2035<sup>(c)</sup> <br>|  | 2468000 | &nbsp;&nbsp; 2446402 |
| Atlas Warehouse Lending Co. L.P., | Atlas Warehouse Lending Co. L.P., |  |  |
| 4.63%, 11/15/2028<sup>(b)</sup> <br>|  | 2753000 | &nbsp;&nbsp; 2753943 |
| 5.25%, 01/15/2033<sup>(b)</sup> <br>|  | 2431000 | &nbsp;&nbsp; 2417620 |
| Avolon Holdings Funding Ltd. (Ireland), | Avolon Holdings Funding Ltd. (Ireland), |  |  |
| 4.95%, 01/15/2028<sup>(b)</sup> <br>|  | 1886000 | &nbsp;&nbsp; 1911617 |
| 6.38%, 05/04/2028<sup>(b)</sup> <br>|  | 1386000 | &nbsp;&nbsp; 1444790 |
| 5.75%, 03/01/2029<sup>(b)</sup> <br>|  | 32000 | &nbsp;&nbsp; 33316 |
| 4.20%, 04/15/2029<sup>(b)</sup> <br>|  | 3053000 | &nbsp;&nbsp; 3045365 |
| 5.75%, 11/15/2029<sup>(b)</sup> <br>|  | 18000 | &nbsp;&nbsp; 18822 |
| 5.15%, 01/15/2030<sup>(b)</sup> <br>|  | 74000 | &nbsp;&nbsp; 75859 |
| 4.70%, 01/30/2031<sup>(b)</sup> <br>|  | 5373000 | &nbsp;&nbsp; 5395719 |
| 4.95%, 10/15/2032<sup>(b)</sup> <br>|  | 8314000 | &nbsp;&nbsp; 8336684 |
| BlackRock Funding, Inc., | BlackRock Funding, Inc., |  |  |
| 4.90%, 01/08/2035<sup>(c)</sup> <br>|  | 905000 | &nbsp;&nbsp; 932765 |
| 5.35%, 01/08/2055 |  | 47000 | &nbsp;&nbsp; 45724 |
| Blackstone Reg Finance Co. L.L.C., | Blackstone Reg Finance Co. L.L.C., |  |  |
| 4.30%, 11/03/2030<sup>(c)</sup> <br>|  | 1445000 | &nbsp;&nbsp; 1442564 |
| 4.95%, 02/15/2036<sup>(c)</sup> <br>|  | 1372000 | &nbsp;&nbsp; 1360153 |
| Citadel Finance LLC, | Citadel Finance LLC, |  |  |
| 4.75%, 02/14/2029<sup>(b)</sup> <br>|  | 3516000 | &nbsp;&nbsp; 3500345 |
| 5.90%, 02/10/2030<sup>(b)</sup> <br>|  | 2738000 | &nbsp;&nbsp; 2810343 |
| 5.15%, 02/14/2031<sup>(b)</sup> <br>|  | 3373000 | &nbsp;&nbsp; 3360564 |
| Citadel Securities Global Holdings LLC, | Citadel Securities Global Holdings LLC, |  |  |
| 5.50%, 06/18/2030<sup>(b)</sup> <br>|  | 1389000 | &nbsp;&nbsp; 1429538 |
| 6.20%, 06/18/2035<sup>(b)</sup> <br>|  | 1093000 | &nbsp;&nbsp; 1157050 |

---

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

**9**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Diversified Financial Services–(continued)** | **Diversified Financial Services–(continued)** | **Diversified Financial Services–(continued)** | **Diversified Financial Services–(continued)** |
| Corebridge Financial, Inc., | Corebridge Financial, Inc., |  |  |
| 6.05%, 09/15/2033<sup>(c)</sup> <br>|  | $1511000 | &nbsp;&nbsp; $1612626 |
| 5.75%, 01/15/2034<sup>(c)</sup> <br>|  | 1822000 | &nbsp;&nbsp; 1885855 |
| Eagle Funding LuxCo S.a.r.l. <br> (Mexico), 5.50%, <br> 08/17/2030<sup>(b)</sup> <br>|  | 29232000 | &nbsp;&nbsp; 29776884 |
| Freedom Mortgage Holdings LLC, <br> 8.38%, 04/01/2032<sup>(b)</sup> <br>|  | 284000 | &nbsp;&nbsp; 286369 |
| Gabon Blue Bond Master Trust <br> (Gabon), Series 2, 6.10%, <br> 08/01/2038<sup>(b)</sup> <br>|  | 6793000 | &nbsp;&nbsp; 7059675 |
| GGAM Finance Ltd. (Ireland), <br> 5.88%, 03/15/2030<sup>(b)</sup> <br>|  | 577000 | &nbsp;&nbsp; 587571 |
| Global Aircraft Leasing Co. Ltd. <br> (Cayman Islands), 8.75%, <br> 09/01/2027<sup>(b)</sup> <br>|  | 1673000 | &nbsp;&nbsp; 1726539 |
| Horizon Mutual Holdings, Inc., <br> 6.20%, 11/15/2034<sup>(b)</sup> <br>|  | 8744000 | &nbsp;&nbsp; 8709294 |
| Jane Street Group/JSG Finance, Inc., | Jane Street Group/JSG Finance, Inc., |  |  |
| 7.13%, 04/30/2031<sup>(b)</sup> <br>|  | 616000 | &nbsp;&nbsp; 641263 |
| 6.13%, 11/01/2032<sup>(b)</sup> <br>|  | 4059000 | &nbsp;&nbsp; 4086341 |
| 6.75%, 05/01/2033<sup>(b)</sup> <br>|  | 6602000 | &nbsp;&nbsp; 6779918 |
| LPL Holdings, Inc., | LPL Holdings, Inc., |  |  |
| 5.70%, 05/20/2027 |  | 1077000 | &nbsp;&nbsp; 1095084 |
| 5.20%, 03/15/2030 |  | 2445000 | &nbsp;&nbsp; 2498010 |
| 5.15%, 06/15/2030<sup>(c)</sup> <br>|  | 1490000 | &nbsp;&nbsp; 1521001 |
| 5.65%, 03/15/2035 |  | 3996000 | &nbsp;&nbsp; 4063818 |
| Macquarie Airfinance Holdings Ltd. <br> (United Kingdom), | Macquarie Airfinance Holdings Ltd. <br> (United Kingdom), |  |  |
| 6.40%, 03/26/2029<sup>(b)</sup> <br>|  | 7000 | &nbsp;&nbsp; 7384 |
| 5.15%, 03/17/2030<sup>(b)</sup> <br>|  | 20000 | &nbsp;&nbsp; 20447 |
| 6.50%, 03/26/2031<sup>(b)</sup> <br>|  | 12000 | &nbsp;&nbsp; 12955 |
| Osaic Holdings, Inc., 6.75%, <br> 08/01/2032<sup>(b)</sup> <br>|  | 558000 | &nbsp;&nbsp; 563505 |
| Pershing Square Holdings Ltd., <br> 5.50%, 10/28/2032<sup>(b)</sup> <br>|  | 6154000 | &nbsp;&nbsp; 6235431 |
| Phoenix Aviation Capital Ltd. <br> (Ireland), 9.25%, <br> 07/15/2030<sup>(b)</sup> <br>|  | 162000 | &nbsp;&nbsp; 169857 |
| Provident Funding Associates <br> L.P./PFG Finance Corp., <br> 9.75%, 09/15/2029<sup>(b)</sup> <br>|  | 814000 | &nbsp;&nbsp; 846310 |
| Voya Global Funding, 4.60%, <br> 11/24/2030<sup>(b)</sup> <br>|  | 2990000 | &nbsp;&nbsp; 3036686 |
| Wynnton Funding Trust II, 5.99%, <br> 08/15/2055<sup>(b)</sup> <br>|  | 3839000 | &nbsp;&nbsp; 3897211 |
|  |  |  | &nbsp;&nbsp; 141681138 |
| **Diversified Metals & Mining–0.73%** | **Diversified Metals & Mining–0.73%** | **Diversified Metals & Mining–0.73%** | **Diversified Metals & Mining–0.73%** |
| BHP Billiton Finance (USA) Ltd. <br> (Australia), | BHP Billiton Finance (USA) Ltd. <br> (Australia), |  |  |
| 5.25%, 09/08/2030 |  | 891000 | &nbsp;&nbsp; 935691 |
| 5.25%, 09/08/2033 |  | 5705000 | &nbsp;&nbsp; 5988957 |
| 5.75%, 09/05/2055<sup>(c)</sup> <br>|  | 1290000 | &nbsp;&nbsp; 1347948 |
| Corp. Nacional del Cobre de Chile <br> (Chile), 5.53%, <br> 01/30/2037<sup>(b)</sup> <br>|  | 5378000 | &nbsp;&nbsp; 5513794 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Diversified Metals & Mining–(continued)** | **Diversified Metals & Mining–(continued)** | **Diversified Metals & Mining–(continued)** | **Diversified Metals & Mining–(continued)** |
| Glencore Funding LLC (Australia), | Glencore Funding LLC (Australia), |  |  |
| 4.91%, 04/01/2028<sup>(b)(c)</sup> <br>|  | $1282000 | &nbsp;&nbsp; $1306449 |
| 5.37%, 04/04/2029<sup>(b)</sup> <br>|  | 993000 | &nbsp;&nbsp; 1029568 |
| 5.19%, 04/01/2030<sup>(b)</sup> <br>|  | 2267000 | &nbsp;&nbsp; 2346519 |
| 5.63%, 04/04/2034<sup>(b)</sup> <br>|  | 1829000 | &nbsp;&nbsp; 1935253 |
| 5.89%, 04/04/2054<sup>(b)(c)</sup> <br>|  | 842000 | &nbsp;&nbsp; 863804 |
| 6.14%, 04/01/2055<sup>(b)(c)</sup> <br>|  | 859000 | &nbsp;&nbsp; 908050 |
| Rio Tinto Finance (USA) PLC (Australia), | Rio Tinto Finance (USA) PLC (Australia), |  |  |
| 4.88%, 03/14/2030 |  | 3009000 | &nbsp;&nbsp; 3108985 |
| 5.00%, 03/14/2032 |  | 827000 | &nbsp;&nbsp; 859805 |
| 5.13%, 03/09/2053 |  | 203000 | &nbsp;&nbsp; 192665 |
| 5.75%, 03/14/2055 |  | 2191000 | &nbsp;&nbsp; 2275597 |
| 5.88%, 03/14/2065 |  | 1691000 | &nbsp;&nbsp; 1766655 |
|  |  |  | &nbsp;&nbsp; 30379740 |
| **Diversified Real Estate Activities–0.01%** | **Diversified Real Estate Activities–0.01%** | **Diversified Real Estate Activities–0.01%** | **Diversified Real Estate Activities–0.01%** |
| Velocity Commercial Capital LLC, <br> 9.38%, 02/15/2031<sup>(b)</sup> <br>|  | 600000 | &nbsp;&nbsp; 608738 |
| **Diversified REITs–0.05%** | **Diversified REITs–0.05%** | **Diversified REITs–0.05%** | **Diversified REITs–0.05%** |
| Iron Mountain Information <br> Management Services, Inc., <br> 5.00%, 07/15/2032<sup>(b)</sup> <br>|  | 636000 | &nbsp;&nbsp; 615934 |
| Uniti Group L.P./Uniti Group <br> Finance 2019, Inc./CSL <br> Capital LLC, 8.63%, <br> 06/15/2032<sup>(b)</sup> <br>|  | 100000 | &nbsp;&nbsp; 101506 |
| VICI Properties L.P., | VICI Properties L.P., |  |  |
| 5.13%, 05/15/2032 |  | 24000 | &nbsp;&nbsp; 24353 |
| 5.75%, 04/01/2034 |  | 464000 | &nbsp;&nbsp; 482331 |
| 5.63%, 05/15/2052 |  | 120000 | &nbsp;&nbsp; 112840 |
| 6.13%, 04/01/2054<sup>(c)</sup> <br>|  | 633000 | &nbsp;&nbsp; 637832 |
|  |  |  | &nbsp;&nbsp; 1974796 |
| **Diversified Support Services–0.27%** | **Diversified Support Services–0.27%** | **Diversified Support Services–0.27%** | **Diversified Support Services–0.27%** |
| Amazon Conservation DAC <br> (Ecuador), 6.03%, <br> 01/16/2042<sup>(b)</sup> <br>|  | 6975000 | &nbsp;&nbsp; 7288387 |
| Element Fleet Management Corp. <br> (Canada), | Element Fleet Management Corp. <br> (Canada), |  |  |
| 6.32%, 12/04/2028<sup>(b)(c)</sup> <br>|  | 810000 | &nbsp;&nbsp; 854782 |
| 5.04%, 03/25/2030<sup>(b)(c)</sup> <br>|  | 1925000 | &nbsp;&nbsp; 1974857 |
| RB Global Holdings, Inc. (Canada), | RB Global Holdings, Inc. (Canada), |  |  |
| 6.75%, 03/15/2028<sup>(b)</sup> <br>|  | 807000 | &nbsp;&nbsp; 821035 |
| 7.75%, 03/15/2031<sup>(b)</sup> <br>|  | 299000 | &nbsp;&nbsp; 311234 |
|  |  |  | &nbsp;&nbsp; 11250295 |
| **Drug Retail–0.30%** | **Drug Retail–0.30%** | **Drug Retail–0.30%** | **Drug Retail–0.30%** |
| CK Hutchison International (23) Ltd. <br> (United Kingdom), | CK Hutchison International (23) Ltd. <br> (United Kingdom), |  |  |
| 4.75%, 04/21/2028<sup>(b)</sup> <br>|  | 1613000 | &nbsp;&nbsp; 1641409 |
| 4.88%, 04/21/2033<sup>(b)</sup> <br>|  | 3457000 | &nbsp;&nbsp; 3555383 |
| CVS Pass-Through Trust, | CVS Pass-Through Trust, |  |  |
| 6.04%, 12/10/2028 |  | 439508 | &nbsp;&nbsp; 445895 |
| 5.77%, 01/10/2033<sup>(b)</sup> <br>|  | 1003363 | &nbsp;&nbsp; 1029949 |
| Teva Pharmaceutical Finance <br> Netherlands IV B.V. (Israel), <br> 5.75%, 12/01/2030<br>|  | 5392000 | &nbsp;&nbsp; 5598590 |
|  |  |  | &nbsp;&nbsp; 12271226 |

---

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

**10**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Electric Utilities–7.31%** | **Electric Utilities–7.31%** | **Electric Utilities–7.31%** | **Electric Utilities–7.31%** |
| AEP Texas, Inc., | AEP Texas, Inc., |  |  |
| 5.70%, 05/15/2034<sup>(c)</sup> <br>|  | $699000 | &nbsp;&nbsp; $741051 |
| 5.25%, 05/15/2052 |  | 640000 | &nbsp;&nbsp; 592989 |
| 5.85%, 10/15/2055 |  | 39000 | &nbsp;&nbsp; 39012 |
| AEP Transmission Co. LLC, <br> 5.38%, 06/15/2035<br>|  | 550000 | &nbsp;&nbsp; 575019 |
| Alabama Power Co., | Alabama Power Co., |  |  |
| Series C, 4.30%, <br> 03/15/2031<br>|  | 2762000 | &nbsp;&nbsp; 2792546 |
| 5.85%, 11/15/2033 |  | 794000 | &nbsp;&nbsp; 859721 |
| 5.10%, 04/02/2035 |  | 1309000 | &nbsp;&nbsp; 1357287 |
| Alexander Funding Trust II, <br> 7.47%, 07/31/2028<sup>(b)</sup> <br>|  | 1037000 | &nbsp;&nbsp; 1105044 |
| American Electric Power Co., Inc., | American Electric Power Co., Inc., |  |  |
| 5.20%, 01/15/2029 |  | 659000 | &nbsp;&nbsp; 681972 |
| Series C, 5.80%, <br> 03/15/2056<sup>(e)</sup> <br>|  | 11341000 | &nbsp;&nbsp; 11398590 |
| Series D, 6.05%, <br> 03/15/2056<sup>(e)</sup> <br>|  | 3082000 | &nbsp;&nbsp; 3094066 |
| Arizona Public Service Co., <br> 5.90%, 08/15/2055<sup>(c)</sup> <br>|  | 3872000 | &nbsp;&nbsp; 3987089 |
| Baltimore Gas and Electric Co., <br> 5.45%, 06/01/2035<sup>(c)</sup> <br>|  | 1410000 | &nbsp;&nbsp; 1480496 |
| Berkshire Hathaway Energy Co., <br> 3.80%, 07/15/2048<br>|  | 166000 | &nbsp;&nbsp; 127686 |
| Brookfield Infrastructure Finance <br> ULC (Canada), 6.75%, <br> 03/15/2055<sup>(c)(e)</sup> <br>|  | 849000 | &nbsp;&nbsp; 865158 |
| California Buyer Ltd./Atlantica <br> Sustainable Infrastructure PLC <br> (United Kingdom), 6.38%, <br> 02/15/2032<sup>(b)</sup> <br>|  | 525000 | &nbsp;&nbsp; 523796 |
| Capital Power (US Holdings), Inc. <br> (Canada), | Capital Power (US Holdings), Inc. <br> (Canada), |  |  |
| 5.26%, 06/01/2028<sup>(b)</sup> <br>|  | 722000 | &nbsp;&nbsp; 736949 |
| 6.19%, 06/01/2035<sup>(b)(c)</sup> <br>|  | 2804000 | &nbsp;&nbsp; 2961896 |
| CenterPoint Energy Houston <br> Electric LLC, | CenterPoint Energy Houston <br> Electric LLC, |  |  |
| 4.80%, 03/15/2030 |  | 1266000 | &nbsp;&nbsp; 1306378 |
| 5.05%, 03/01/2035 |  | 914000 | &nbsp;&nbsp; 935372 |
| Series AJ, 4.85%, <br> 10/01/2052<br>|  | 1611000 | &nbsp;&nbsp; 1474327 |
| Commonwealth Edison Co., <br> 5.95%, 06/01/2055<br>|  | 1120000 | &nbsp;&nbsp; 1171278 |
| Consolidated Edison Co. of New York, <br> Inc., | Consolidated Edison Co. of New York, <br> Inc., |  |  |
| 5.50%, 03/15/2034 |  | 14000 | &nbsp;&nbsp; 14856 |
| 6.15%, 11/15/2052<sup>(c)</sup> <br>|  | 408000 | &nbsp;&nbsp; 436569 |
| 5.90%, 11/15/2053 |  | 1360000 | &nbsp;&nbsp; 1409714 |
| 5.75%, 11/15/2055<sup>(c)</sup> <br>|  | 1998000 | &nbsp;&nbsp; 2029838 |
| Series C, 3.00%, 12/01/2060 |  | 152000 | &nbsp;&nbsp; 91481 |
| Constellation Energy Generation LLC, | Constellation Energy Generation LLC, |  |  |
| 6.13%, 01/15/2034 |  | 587000 | &nbsp;&nbsp; 643153 |
| 6.50%, 10/01/2053<sup>(c)</sup> <br>|  | 976000 | &nbsp;&nbsp; 1077618 |
| 5.75%, 03/15/2054<sup>(c)</sup> <br>|  | 1382000 | &nbsp;&nbsp; 1390496 |
| 5.88%, 01/15/2066 |  | 2004000 | &nbsp;&nbsp; 2001880 |
| Dominion Energy South Carolina, <br> Inc., 6.25%, 10/15/2053<br>|  | 104000 | &nbsp;&nbsp; 113099 |
| Duke Energy Carolinas LLC, | Duke Energy Carolinas LLC, |  |  |
| 4.85%, 03/15/2030<sup>(c)</sup> <br>|  | 327000 | &nbsp;&nbsp; 338488 |
| 5.25%, 03/15/2035 |  | 59000 | &nbsp;&nbsp; 61606 |
| 5.35%, 01/15/2053 |  | 1203000 | &nbsp;&nbsp; 1171609 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Electric Utilities–(continued)** | **Electric Utilities–(continued)** | **Electric Utilities–(continued)** | **Electric Utilities–(continued)** |
| Duke Energy Corp., | Duke Energy Corp., |  |  |
| 4.85%, 01/05/2029 |  | $983000 | &nbsp;&nbsp; $1007591 |
| 5.00%, 08/15/2052 |  | 1165000 | &nbsp;&nbsp; 1033258 |
| Duke Energy Florida LLC, | Duke Energy Florida LLC, |  |  |
| 4.20%, 12/01/2030 |  | 1584000 | &nbsp;&nbsp; 1596573 |
| 6.20%, 11/15/2053 |  | 153000 | &nbsp;&nbsp; 166731 |
| Duke Energy Indiana LLC, | Duke Energy Indiana LLC, |  |  |
| 5.40%, 04/01/2053 |  | 2283000 | &nbsp;&nbsp; 2211370 |
| 5.90%, 05/15/2055 |  | 597000 | &nbsp;&nbsp; 617133 |
| Electricite de France S.A. (France), | Electricite de France S.A. (France), |  |  |
| 5.70%, 05/23/2028<sup>(b)(c)</sup> <br>|  | 1457000 | &nbsp;&nbsp; 1508654 |
| 6.38%, 01/13/2055<sup>(b)</sup> <br>|  | 10824000 | &nbsp;&nbsp; 11431706 |
| 6.00%, 04/22/2064<sup>(b)</sup> <br>|  | 4711000 | &nbsp;&nbsp; 4703302 |
| 9.13%<sup>(b)(e)(h)</sup> <br>|  | 1818000 | &nbsp;&nbsp; 2163136 |
| Entergy Corp., | Entergy Corp., |  |  |
| 7.13%, 12/01/2054<sup>(e)</sup> <br>|  | 1200000 | &nbsp;&nbsp; 1256400 |
| 5.88%, 06/15/2056<sup>(e)</sup> <br>|  | 82000 | &nbsp;&nbsp; 82410 |
| Entergy Louisiana LLC, 5.15%, <br> 09/15/2034<br>|  | 1205000 | &nbsp;&nbsp; 1246652 |
| Entergy Texas, Inc., | Entergy Texas, Inc., |  |  |
| 5.25%, 04/15/2035 |  | 1683000 | &nbsp;&nbsp; 1747599 |
| 5.55%, 09/15/2054 |  | 49000 | &nbsp;&nbsp; 47931 |
| Evergy Metro, Inc., | Evergy Metro, Inc., |  |  |
| 4.95%, 04/15/2033 |  | 656000 | &nbsp;&nbsp; 673619 |
| 5.13%, 08/15/2035<sup>(c)</sup> <br>|  | 2381000 | &nbsp;&nbsp; 2431326 |
| Evergy Missouri West, Inc., <br> 5.25%, 12/15/2035<sup>(b)</sup> <br>|  | 2093000 | &nbsp;&nbsp; 2121423 |
| Exelon Corp., | Exelon Corp., |  |  |
| 5.15%, 03/15/2029<sup>(c)</sup> <br>|  | 532000 | &nbsp;&nbsp; 550032 |
| 5.13%, 03/15/2031<sup>(c)</sup> <br>|  | 2746000 | &nbsp;&nbsp; 2862214 |
| 5.45%, 03/15/2034<sup>(c)</sup> <br>|  | 892000 | &nbsp;&nbsp; 937149 |
| 5.60%, 03/15/2053<sup>(c)</sup> <br>|  | 1782000 | &nbsp;&nbsp; 1731011 |
| 5.88%, 03/15/2055 |  | 3098000 | &nbsp;&nbsp; 3111174 |
| FirstEnergy Pennsylvania Electric <br> Co., 5.20%, 04/01/2028<sup>(b)</sup> <br>|  | 153000 | &nbsp;&nbsp; 156555 |
| FirstEnergy Transmission LLC, | FirstEnergy Transmission LLC, |  |  |
| 4.55%, 01/15/2030 |  | 954000 | &nbsp;&nbsp; 968555 |
| 5.00%, 01/15/2035 |  | 953000 | &nbsp;&nbsp; 968081 |
| Florida Power & Light Co., | Florida Power & Light Co., |  |  |
| 4.70%, 02/15/2036 |  | 1804000 | &nbsp;&nbsp; 1810021 |
| 5.80%, 03/15/2065 |  | 1538000 | &nbsp;&nbsp; 1581625 |
| 5.60%, 02/15/2066 |  | 3085000 | &nbsp;&nbsp; 3069639 |
| Georgia Power Co., 4.95%, <br> 05/17/2033<sup>(c)</sup> <br>|  | 735000 | &nbsp;&nbsp; 759362 |
| Hawaiian Electric Co., Inc., <br> 6.00%, 10/01/2033<sup>(b)(c)</sup> <br>|  | 1611000 | &nbsp;&nbsp; 1642796 |
| Indiana Michigan Power Co., | Indiana Michigan Power Co., |  |  |
| 5.63%, 04/01/2053 |  | 166000 | &nbsp;&nbsp; 166708 |
| 5.60%, 03/15/2056 |  | 2249000 | &nbsp;&nbsp; 2243208 |
| Louisville Gas and Electric Co., <br> 5.85%, 08/15/2055<br>|  | 7442000 | &nbsp;&nbsp; 7639548 |
| MidAmerican Energy Co., | MidAmerican Energy Co., |  |  |
| 5.35%, 01/15/2034 |  | 628000 | &nbsp;&nbsp; 661691 |
| 5.85%, 09/15/2054 |  | 1835000 | &nbsp;&nbsp; 1913227 |
| 5.30%, 02/01/2055 |  | 1079000 | &nbsp;&nbsp; 1047404 |

---

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

**11**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Electric Utilities–(continued)** | **Electric Utilities–(continued)** | **Electric Utilities–(continued)** | **Electric Utilities–(continued)** |
| National Rural Utilities Cooperative <br> Finance Corp., | National Rural Utilities Cooperative <br> Finance Corp., |  |  |
| Series D, <br>4.14% (SOFR + 0.43%), <br> 08/09/2027<sup>(f)</sup> <br>|  | $7938000 | &nbsp;&nbsp; $7947767 |
| 4.15%, 08/25/2028 |  | 3638000 | &nbsp;&nbsp; 3664389 |
| 4.05%, 02/09/2029 |  | 4791000 | &nbsp;&nbsp; 4815594 |
| 4.85%, 02/07/2029 |  | 974000 | &nbsp;&nbsp; 1000812 |
| 5.00%, 02/07/2031 |  | 1516000 | &nbsp;&nbsp; 1575890 |
| 5.80%, 01/15/2033<sup>(c)</sup> <br>|  | 651000 | &nbsp;&nbsp; 704230 |
| 5.00%, 08/15/2034<sup>(c)</sup> <br>|  | 2225000 | &nbsp;&nbsp; 2297267 |
| 7.13%, 09/15/2053<sup>(c)(e)</sup> <br>|  | 5490000 | &nbsp;&nbsp; 5766685 |
| 5.75%, 04/20/2056 |  | 7795000 | &nbsp;&nbsp; 7795000 |
| 5.95%, 04/20/2056 |  | 9114000 | &nbsp;&nbsp; 9114000 |
| NextEra Energy Capital Holdings, Inc., | NextEra Energy Capital Holdings, Inc., |  |  |
| 5.00%, 07/15/2032 |  | 424000 | &nbsp;&nbsp; 437724 |
| 5.45%, 03/15/2035<sup>(c)</sup> <br>|  | 3093000 | &nbsp;&nbsp; 3217877 |
| 5.55%, 03/15/2054 |  | 3117000 | &nbsp;&nbsp; 3026547 |
| 5.90%, 03/15/2055<sup>(c)</sup> <br>|  | 2809000 | &nbsp;&nbsp; 2858157 |
| Niagara Mohawk Power Corp., | Niagara Mohawk Power Corp., |  |  |
| 4.65%, 10/03/2030<sup>(b)</sup> <br>|  | 2744000 | &nbsp;&nbsp; 2787669 |
| 5.29%, 01/17/2034<sup>(b)</sup> <br>|  | 1226000 | &nbsp;&nbsp; 1263936 |
| 5.66%, 01/17/2054<sup>(b)</sup> <br>|  | 805000 | &nbsp;&nbsp; 792585 |
| 6.00%, 07/03/2055<sup>(b)</sup> <br>|  | 6921000 | &nbsp;&nbsp; 7071736 |
| Northern States Power Co., <br> 5.65%, 05/15/2055<br>|  | 2155000 | &nbsp;&nbsp; 2191688 |
| NRG Energy, Inc., | NRG Energy, Inc., |  |  |
| 4.73%, 10/15/2030<sup>(b)</sup> <br>|  | 5831000 | &nbsp;&nbsp; 5889158 |
| 5.75%, 01/15/2034<sup>(b)</sup> <br>|  | 1911000 | &nbsp;&nbsp; 1939361 |
| 5.41%, 10/15/2035<sup>(b)(c)</sup> <br>|  | 5331000 | &nbsp;&nbsp; 5390920 |
| 6.00%, 01/15/2036<sup>(b)</sup> <br>|  | 1510000 | &nbsp;&nbsp; 1537606 |
| Oglethorpe Power Corp., 5.90%, <br> 02/01/2055<sup>(c)</sup> <br>|  | 1418000 | &nbsp;&nbsp; 1430498 |
| Ohio Power Co., 5.65%, <br> 06/01/2034<sup>(c)</sup> <br>|  | 4217000 | &nbsp;&nbsp; 4461132 |
| Oklahoma Gas and Electric Co., <br> 5.60%, 04/01/2053<sup>(c)</sup> <br>|  | 4374000 | &nbsp;&nbsp; 4353886 |
| Oncor Electric Delivery Co. LLC, | Oncor Electric Delivery Co. LLC, |  |  |
| 5.65%, 11/15/2033 |  | 1073000 | &nbsp;&nbsp; 1151586 |
| 5.80%, 04/01/2055<sup>(b)(c)</sup> <br>|  | 5033000 | &nbsp;&nbsp; 5175128 |
| Pacific Gas and Electric Co., | Pacific Gas and Electric Co., |  |  |
| 6.10%, 01/15/2029 |  | 1767000 | &nbsp;&nbsp; 1856156 |
| 5.20%, 05/01/2036<sup>(c)</sup> <br>|  | 2525000 | &nbsp;&nbsp; 2534348 |
| 6.15%, 03/01/2055 |  | 37000 | &nbsp;&nbsp; 37286 |
| 6.00%, 05/01/2056 |  | 3225000 | &nbsp;&nbsp; 3187589 |
| PacifiCorp, | PacifiCorp, |  |  |
| 5.10%, 02/15/2029 |  | 873000 | &nbsp;&nbsp; 898065 |
| 5.30%, 02/15/2031 |  | 972000 | &nbsp;&nbsp; 1010076 |
| 5.45%, 02/15/2034 |  | 1528000 | &nbsp;&nbsp; 1570209 |
| 5.80%, 01/15/2055 |  | 1751000 | &nbsp;&nbsp; 1669399 |
| 7.13%, 08/15/2056<sup>(e)</sup> <br>|  | 2077000 | &nbsp;&nbsp; 2041837 |
| PG&E Corp., 7.38%, <br> 03/15/2055<sup>(e)</sup> <br>|  | 7237000 | &nbsp;&nbsp; 7491511 |
| Pinnacle West Capital Corp., | Pinnacle West Capital Corp., |  |  |
| 4.90%, 05/15/2028 |  | 168000 | &nbsp;&nbsp; 171332 |
| 5.15%, 05/15/2030 |  | 569000 | &nbsp;&nbsp; 589960 |
| PPL Capital Funding, Inc., | PPL Capital Funding, Inc., |  |  |
| Conv., 3.00%, 12/01/2030<sup>(b)</sup> <br>|  | 3762000 | &nbsp;&nbsp; 3941635 |
| 5.25%, 09/01/2034 |  | 643000 | &nbsp;&nbsp; 664646 |
| PPL Electric Utilities Corp., <br> 5.55%, 08/15/2055<sup>(c)</sup> <br>|  | 935000 | &nbsp;&nbsp; 942551 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Electric Utilities–(continued)** | **Electric Utilities–(continued)** | **Electric Utilities–(continued)** | **Electric Utilities–(continued)** |
| PSEG Power LLC, 5.20%, <br> 05/15/2030<sup>(b)</sup> <br>|  | $18000 | &nbsp;&nbsp; $18582 |
| Public Service Co. of Colorado, <br> 5.25%, 04/01/2053<br>|  | 1755000 | &nbsp;&nbsp; 1656902 |
| RWE Finance US LLC (Germany), <br> 5.88%, 09/18/2055<sup>(b)</sup> <br>|  | 2495000 | &nbsp;&nbsp; 2483073 |
| San Diego Gas & Electric Co., <br> 5.35%, 04/01/2053<br>|  | 1897000 | &nbsp;&nbsp; 1807546 |
| Sierra Pacific Power Co., 5.90%, <br> 03/15/2054<br>|  | 2280000 | &nbsp;&nbsp; 2335922 |
| Southern Co. (The), | Southern Co. (The), |  |  |
| 5.70%, 10/15/2032<sup>(c)</sup> <br>|  | 633000 | &nbsp;&nbsp; 678728 |
| 5.70%, 03/15/2034 |  | 2257000 | &nbsp;&nbsp; 2401387 |
| 4.85%, 03/15/2035 |  | 1382000 | &nbsp;&nbsp; 1379989 |
| Southwestern Electric Power Co., <br> 5.30%, 04/01/2033<br>|  | 849000 | &nbsp;&nbsp; 880671 |
| Trans-Allegheny Interstate Line <br> Co., 5.00%, 01/15/2031<sup>(b)</sup> <br>|  | 1237000 | &nbsp;&nbsp; 1279127 |
| Union Electric Co., | Union Electric Co., |  |  |
| 5.20%, 04/01/2034 |  | 1956000 | &nbsp;&nbsp; 2042617 |
| 5.25%, 04/15/2035 |  | 1736000 | &nbsp;&nbsp; 1800830 |
| 5.13%, 03/15/2055 |  | 1063000 | &nbsp;&nbsp; 997725 |
| Virginia Electric & Power Co., | Virginia Electric & Power Co., |  |  |
| 5.00%, 04/01/2033 |  | 748000 | &nbsp;&nbsp; 768975 |
| 2.95%, 11/15/2051 |  | 277000 | &nbsp;&nbsp; 176641 |
| 5.70%, 08/15/2053 |  | 223000 | &nbsp;&nbsp; 221666 |
| Series C, 4.90%, <br> 09/15/2035<br>|  | 4383000 | &nbsp;&nbsp; 4397805 |
| Series D, 5.60%, <br> 09/15/2055<sup>(c)</sup> <br>|  | 4478000 | &nbsp;&nbsp; 4395954 |
| Vistra Operations Co. LLC, | Vistra Operations Co. LLC, |  |  |
| 5.63%, 02/15/2027<sup>(b)</sup> <br>|  | 1564000 | &nbsp;&nbsp; 1564215 |
| 4.38%, 05/01/2029<sup>(b)</sup> <br>|  | 78000 | &nbsp;&nbsp; 77206 |
| 4.60%, 10/15/2030<sup>(b)</sup> <br>|  | 2505000 | &nbsp;&nbsp; 2522142 |
| 4.70%, 01/31/2031<sup>(b)</sup> <br>|  | 3585000 | &nbsp;&nbsp; 3607196 |
| 7.75%, 10/15/2031<sup>(b)</sup> <br>|  | 1767000 | &nbsp;&nbsp; 1868125 |
| 6.88%, 04/15/2032<sup>(b)</sup> <br>|  | 1355000 | &nbsp;&nbsp; 1426124 |
| 6.95%, 10/15/2033<sup>(b)</sup> <br>|  | 1526000 | &nbsp;&nbsp; 1711702 |
| 6.00%, 04/15/2034<sup>(b)(c)</sup> <br>|  | 957000 | &nbsp;&nbsp; 1015107 |
| 5.70%, 12/30/2034<sup>(b)</sup> <br>|  | 44000 | &nbsp;&nbsp; 45627 |
| 5.35%, 01/31/2036<sup>(b)</sup> <br>|  | 5210000 | &nbsp;&nbsp; 5248648 |
| Wisconsin Electric Power Co., <br> 4.15%, 10/15/2030<sup>(c)</sup> <br>|  | 1832000 | &nbsp;&nbsp; 1843322 |
| Wisconsin Public Service Corp., <br> 4.25%, 01/15/2031<sup>(c)</sup> <br>|  | 2949000 | &nbsp;&nbsp; 2980010 |
| Xcel Energy, Inc., 4.75%, <br> 03/21/2028<br>|  | 902000 | &nbsp;&nbsp; 916569 |
|  |  |  | &nbsp;&nbsp; 302270504 |
| **Electrical Components & Equipment–0.88%** | **Electrical Components & Equipment–0.88%** | **Electrical Components & Equipment–0.88%** | **Electrical Components & Equipment–0.88%** |
| EnerSys, | EnerSys, |  |  |
| 4.38%, 12/15/2027<sup>(b)</sup> <br>|  | 2985000 | &nbsp;&nbsp; 2983703 |
| 6.63%, 01/15/2032<sup>(b)</sup> <br>|  | 286000 | &nbsp;&nbsp; 295361 |
| Molex Electronic Technologies LLC, | Molex Electronic Technologies LLC, |  |  |
| 4.75%, 04/30/2028<sup>(b)</sup> <br>|  | 1423000 | &nbsp;&nbsp; 1443118 |
| 5.25%, 04/30/2032<sup>(b)</sup> <br>|  | 2124000 | &nbsp;&nbsp; 2206655 |
| Regal Rexnord Corp., | Regal Rexnord Corp., |  |  |
| 6.05%, 04/15/2028 |  | 522000 | &nbsp;&nbsp; 541355 |
| 6.40%, 04/15/2033 |  | 3123000 | &nbsp;&nbsp; 3396667 |
| Vertiv Group Corp., 4.13%, <br> 11/15/2028<sup>(b)</sup> <br>|  | 11983000 | &nbsp;&nbsp; 11942513 |

---

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

**12**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Electrical Components & Equipment–(continued)** | **Electrical Components & Equipment–(continued)** | **Electrical Components & Equipment–(continued)** | **Electrical Components & Equipment–(continued)** |
| Vertiv Holdings Co., | Vertiv Holdings Co., |  |  |
| 4.85%, 03/15/2036 |  | $2101000 | &nbsp;&nbsp; $2093731 |
| 5.65%, 03/15/2046 |  | 2175000 | &nbsp;&nbsp; 2161434 |
| 5.80%, 03/15/2056 |  | 3455000 | &nbsp;&nbsp; 3463408 |
| 5.95%, 03/15/2066 |  | 6069000 | &nbsp;&nbsp; 6048926 |
|  |  |  | &nbsp;&nbsp; 36576871 |
| **Electronic Components–0.33%** | **Electronic Components–0.33%** | **Electronic Components–0.33%** | **Electronic Components–0.33%** |
| Amphenol Corp., | Amphenol Corp., |  |  |
| 4.13%, 11/15/2030<sup>(c)</sup> <br>|  | 4763000 | &nbsp;&nbsp; 4788895 |
| 4.40%, 02/15/2033 |  | 4000000 | &nbsp;&nbsp; 4011009 |
| 5.00%, 01/15/2035<sup>(c)</sup> <br>|  | 1293000 | &nbsp;&nbsp; 1327282 |
| 5.38%, 11/15/2054<sup>(c)</sup> <br>|  | 828000 | &nbsp;&nbsp; 818632 |
| Corning, Inc., 5.45%, <br> 11/15/2079<br>|  | 2121000 | &nbsp;&nbsp; 2014842 |
| Sensata Technologies, Inc., <br> 3.75%, 02/15/2031<sup>(b)</sup> <br>|  | 556000 | &nbsp;&nbsp; 524559 |
|  |  |  | &nbsp;&nbsp; 13485219 |
| **Electronic Equipment & Instruments–0.04%** | **Electronic Equipment & Instruments–0.04%** | **Electronic Equipment & Instruments–0.04%** | **Electronic Equipment & Instruments–0.04%** |
| Keysight Technologies, Inc., <br> 5.35%, 07/30/2030<br>|  | 1406000 | &nbsp;&nbsp; 1475000 |
| **Electronic Manufacturing Services–0.07%** | **Electronic Manufacturing Services–0.07%** | **Electronic Manufacturing Services–0.07%** | **Electronic Manufacturing Services–0.07%** |
| EMRLD Borrower L.P./Emerald <br> Co-Issuer, Inc., 6.63%, <br> 12/15/2030<sup>(b)</sup> <br>|  | 836000 | &nbsp;&nbsp; 866301 |
| Jabil, Inc., 4.75%, 02/01/2033 |  | 2019000 | &nbsp;&nbsp; 2012219 |
|  |  |  | &nbsp;&nbsp; 2878520 |
| **Environmental & Facilities Services–0.15%** | **Environmental & Facilities Services–0.15%** | **Environmental & Facilities Services–0.15%** | **Environmental & Facilities Services–0.15%** |
| GFL Environmental Holdings (US), <br> Inc., 5.50%, 02/01/2034<sup>(b)</sup> <br>|  | 485000 | &nbsp;&nbsp; 487351 |
| Republic Services, Inc., | Republic Services, Inc., |  |  |
| 5.00%, 12/15/2033<sup>(c)</sup> <br>|  | 1171000 | &nbsp;&nbsp; 1221062 |
| 5.00%, 04/01/2034 |  | 917000 | &nbsp;&nbsp; 951462 |
| Rollins, Inc., 5.25%, <br> 02/24/2035<br>|  | 1686000 | &nbsp;&nbsp; 1733846 |
| Veralto Corp., 5.35%, <br> 09/18/2028<br>|  | 1195000 | &nbsp;&nbsp; 1234375 |
| Waste Management, Inc., 5.35%, <br> 10/15/2054<sup>(c)</sup> <br>|  | 138000 | &nbsp;&nbsp; 136730 |
| Wrangler Holdco Corp. (Canada), <br> 6.63%, 04/01/2032<sup>(b)</sup> <br>|  | 387000 | &nbsp;&nbsp; 403990 |
|  |  |  | &nbsp;&nbsp; 6168816 |
| **Fertilizers & Agricultural Chemicals–0.14%** | **Fertilizers & Agricultural Chemicals–0.14%** | **Fertilizers & Agricultural Chemicals–0.14%** | **Fertilizers & Agricultural Chemicals–0.14%** |
| FMC Corp., 3.45%, 10/01/2029 |  | 120000 | &nbsp;&nbsp; 106015 |
| Mosaic Co. (The), | Mosaic Co. (The), |  |  |
| 4.35%, 01/15/2029 |  | 2672000 | &nbsp;&nbsp; 2695433 |
| 4.60%, 11/15/2030 |  | 3114000 | &nbsp;&nbsp; 3154352 |
|  |  |  | &nbsp;&nbsp; 5955800 |
| **Financial Exchanges & Data–0.22%** | **Financial Exchanges & Data–0.22%** | **Financial Exchanges & Data–0.22%** | **Financial Exchanges & Data–0.22%** |
| Intercontinental Exchange, Inc., | Intercontinental Exchange, Inc., |  |  |
| 3.95%, 12/01/2028 |  | 1519000 | &nbsp;&nbsp; 1520807 |
| 4.60%, 03/15/2033 |  | 726000 | &nbsp;&nbsp; 736418 |
| 4.95%, 06/15/2052<sup>(c)</sup> <br>|  | 1086000 | &nbsp;&nbsp; 997274 |
| 5.20%, 06/15/2062 |  | 1370000 | &nbsp;&nbsp; 1271360 |
| Moody's Corp., 3.10%, <br> 11/29/2061<br>|  | 298000 | &nbsp;&nbsp; 184589 |
| MSCI, Inc., 5.25%, <br> 09/01/2035<sup>(c)</sup> <br>|  | 2183000 | &nbsp;&nbsp; 2186564 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Financial Exchanges & Data–(continued)** | **Financial Exchanges & Data–(continued)** | **Financial Exchanges & Data–(continued)** | **Financial Exchanges & Data–(continued)** |
| Nasdaq, Inc., | Nasdaq, Inc., |  |  |
| 5.35%, 06/28/2028 |  | $279000 | &nbsp;&nbsp; $287342 |
| 5.55%, 02/15/2034 |  | 709000 | &nbsp;&nbsp; 747481 |
| 5.95%, 08/15/2053<sup>(c)</sup> <br>|  | 372000 | &nbsp;&nbsp; 385846 |
| 6.10%, 06/28/2063 |  | 820000 | &nbsp;&nbsp; 852411 |
|  |  |  | &nbsp;&nbsp; 9170092 |
| **Food Distributors–0.02%** | **Food Distributors–0.02%** | **Food Distributors–0.02%** | **Food Distributors–0.02%** |
| Sysco Corp., 5.10%, <br> 09/23/2030<br>|  | 847000 | &nbsp;&nbsp; 879510 |
| **Food Retail–0.13%** | **Food Retail–0.13%** | **Food Retail–0.13%** | **Food Retail–0.13%** |
| Alimentation Couche-Tard, Inc. <br> (Canada), 5.08%, <br> 09/29/2035<sup>(b)(c)</sup> <br>|  | 3660000 | &nbsp;&nbsp; 3718457 |
| Kroger Co. (The), 5.65%, <br> 09/15/2064<sup>(c)</sup> <br>|  | 1853000 | &nbsp;&nbsp; 1792728 |
|  |  |  | &nbsp;&nbsp; 5511185 |
| **Forest Products–0.05%** | **Forest Products–0.05%** | **Forest Products–0.05%** | **Forest Products–0.05%** |
| Georgia-Pacific LLC, | Georgia-Pacific LLC, |  |  |
| 4.40%, 06/30/2028<sup>(b)</sup> <br>|  | 682000 | &nbsp;&nbsp; 690481 |
| 4.95%, 06/30/2032<sup>(b)(c)</sup> <br>|  | 1177000 | &nbsp;&nbsp; 1223371 |
|  |  |  | &nbsp;&nbsp; 1913852 |
| **Gas Utilities–0.43%** | **Gas Utilities–0.43%** | **Gas Utilities–0.43%** | **Gas Utilities–0.43%** |
| Atmos Energy Corp., | Atmos Energy Corp., |  |  |
| 5.90%, 11/15/2033<sup>(c)</sup> <br>|  | 706000 | &nbsp;&nbsp; 772719 |
| 5.20%, 08/15/2035<sup>(c)</sup> <br>|  | 5586000 | &nbsp;&nbsp; 5835315 |
| 6.20%, 11/15/2053 |  | 757000 | &nbsp;&nbsp; 835594 |
| 5.45%, 01/15/2056 |  | 54000 | &nbsp;&nbsp; 53269 |
| Piedmont Natural Gas Co., Inc., <br> 5.40%, 06/15/2033<br>|  | 1022000 | &nbsp;&nbsp; 1075648 |
| Snam S.p.A. (Italy), | Snam S.p.A. (Italy), |  |  |
| 5.00%, 05/28/2030<sup>(b)</sup> <br>|  | 1243000 | &nbsp;&nbsp; 1280194 |
| 5.75%, 05/28/2035<sup>(b)</sup> <br>|  | 3059000 | &nbsp;&nbsp; 3238090 |
| 6.50%, 05/28/2055<sup>(b)</sup> <br>|  | 3076000 | &nbsp;&nbsp; 3309139 |
| Southern Natural Gas Co. L.L.C., <br> 5.45%, 08/01/2035<sup>(b)</sup> <br>|  | 923000 | &nbsp;&nbsp; 958936 |
| Southwest Gas Corp., 5.45%, <br> 03/23/2028<br>|  | 319000 | &nbsp;&nbsp; 327986 |
|  |  |  | &nbsp;&nbsp; 17686890 |
| **Gold–0.03%** | **Gold–0.03%** | **Gold–0.03%** | **Gold–0.03%** |
| New Gold, Inc. (Canada), 6.88%, <br> 04/01/2032<sup>(b)</sup> <br>|  | 1123000 | &nbsp;&nbsp; 1197620 |
| **Health Care Distributors–0.31%** | **Health Care Distributors–0.31%** | **Health Care Distributors–0.31%** | **Health Care Distributors–0.31%** |
| Cardinal Health, Inc., | Cardinal Health, Inc., |  |  |
| 4.50%, 09/15/2030<sup>(c)</sup> <br>|  | 717000 | &nbsp;&nbsp; 727557 |
| 5.45%, 02/15/2034 |  | 745000 | &nbsp;&nbsp; 783885 |
| 5.15%, 09/15/2035 |  | 1270000 | &nbsp;&nbsp; 1300797 |
| Cencora, Inc., | Cencora, Inc., |  |  |
| 3.95%, 02/13/2029 |  | 2595000 | &nbsp;&nbsp; 2596460 |
| 4.25%, 11/15/2030 |  | 2294000 | &nbsp;&nbsp; 2303187 |
| McKesson Corp., | McKesson Corp., |  |  |
| 4.65%, 05/30/2030 |  | 2354000 | &nbsp;&nbsp; 2410208 |
| 4.95%, 05/30/2032<sup>(c)</sup> <br>|  | 2467000 | &nbsp;&nbsp; 2573641 |
|  |  |  | &nbsp;&nbsp; 12695735 |

---

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

**13**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Health Care Equipment–0.94%** | **Health Care Equipment–0.94%** | **Health Care Equipment–0.94%** | **Health Care Equipment–0.94%** |
| Abbott Laboratories, | Abbott Laboratories, |  |  |
| 3.70%, 03/09/2029 |  | $7547000 | &nbsp;&nbsp; $7547629 |
| 4.65%, 03/15/2036 |  | 6182000 | &nbsp;&nbsp; 6186324 |
| 5.50%, 03/15/2056 |  | 10550000 | &nbsp;&nbsp; 10593986 |
| 5.60%, 03/15/2066 |  | 5876000 | &nbsp;&nbsp; 5883320 |
| GE HealthCare Technologies, Inc., <br> 4.80%, 01/15/2031<sup>(c)</sup> <br>|  | 2369000 | &nbsp;&nbsp; 2428291 |
| Hologic, Inc., 3.25%, <br> 02/15/2029<sup>(b)</sup> <br>|  | 615000 | &nbsp;&nbsp; 612172 |
| Smith & Nephew PLC (United <br> Kingdom), 5.40%, <br> 03/20/2034<br>|  | 3355000 | &nbsp;&nbsp; 3498997 |
| Stryker Corp., | Stryker Corp., |  |  |
| 4.25%, 09/11/2029 |  | 350000 | &nbsp;&nbsp; 354347 |
| 4.85%, 02/10/2030 |  | 1586000 | &nbsp;&nbsp; 1636409 |
| 5.20%, 02/10/2035 |  | 52000 | &nbsp;&nbsp; 54010 |
|  |  |  | &nbsp;&nbsp; 38795485 |
| **Health Care Facilities–0.35%** | **Health Care Facilities–0.35%** | **Health Care Facilities–0.35%** | **Health Care Facilities–0.35%** |
| Acadia Healthcare Co., Inc., <br> 7.38%, 03/15/2033<sup>(b)(c)</sup> <br>|  | 301000 | &nbsp;&nbsp; 311113 |
| Adventist Health System, 5.76%, <br> 12/01/2034<br>|  | 702000 | &nbsp;&nbsp; 739709 |
| Ascension Health, | Ascension Health, |  |  |
| Series 2025, <br>4.29%, 11/15/2030<br>|  | 2674000 | &nbsp;&nbsp; 2704018 |
| 4.92%, 11/15/2035 |  | 1886000 | &nbsp;&nbsp; 1924120 |
| Providence St. Joseph Health <br> Obligated Group, Series 21-A, <br> 2.70%, 10/01/2051<sup>(c)</sup> <br>|  | 1492000 | &nbsp;&nbsp; 919601 |
| Select Medical Corp., 6.25%, <br> 12/01/2032<sup>(b)</sup> <br>|  | 26000 | &nbsp;&nbsp; 25384 |
| Tenet Healthcare Corp., | Tenet Healthcare Corp., |  |  |
| 4.25%, 06/01/2029 |  | 407000 | &nbsp;&nbsp; 401620 |
| 6.75%, 05/15/2031 |  | 457000 | &nbsp;&nbsp; 475748 |
| 5.50%, 11/15/2032<sup>(b)</sup> <br>|  | 1434000 | &nbsp;&nbsp; 1452760 |
| 6.00%, 11/15/2033<sup>(b)</sup> <br>|  | 49000 | &nbsp;&nbsp; 50668 |
| Universal Health Services, Inc., | Universal Health Services, Inc., |  |  |
| 4.63%, 10/15/2029 |  | 902000 | &nbsp;&nbsp; 912642 |
| 5.05%, 10/15/2034 |  | 2405000 | &nbsp;&nbsp; 2391966 |
| UPMC, | UPMC, |  |  |
| 5.04%, 05/15/2033 |  | 1554000 | &nbsp;&nbsp; 1599884 |
| 5.38%, 05/15/2043 |  | 515000 | &nbsp;&nbsp; 515616 |
|  |  |  | &nbsp;&nbsp; 14424849 |
| **Health Care REITs–0.16%** | **Health Care REITs–0.16%** | **Health Care REITs–0.16%** | **Health Care REITs–0.16%** |
| Alexandria Real Estate Equities, Inc., | Alexandria Real Estate Equities, Inc., |  |  |
| 5.25%, 05/15/2036 |  | 12000 | &nbsp;&nbsp; 12065 |
| 5.15%, 04/15/2053 |  | 47000 | &nbsp;&nbsp; 42728 |
| 5.63%, 05/15/2054<sup>(c)</sup> <br>|  | 340000 | &nbsp;&nbsp; 329189 |
| Diversified Healthcare Trust, <br> 7.25%, 10/15/2030<sup>(b)(c)</sup> <br>|  | 570000 | &nbsp;&nbsp; 593448 |
| Healthpeak OP LLC, 5.38%, <br> 02/15/2035<br>|  | 916000 | &nbsp;&nbsp; 945343 |
| MPT Operating Partnership <br> L.P./MPT Finance Corp., <br> 8.50%, 02/15/2032<sup>(b)</sup> <br>|  | 109000 | &nbsp;&nbsp; 116739 |
| National Health Investors, Inc., <br> 5.35%, 02/01/2033<sup>(c)</sup> <br>|  | 784000 | &nbsp;&nbsp; 794047 |
| Omega Healthcare Investors, Inc., <br> 5.20%, 07/01/2030<br>|  | 2206000 | &nbsp;&nbsp; 2263123 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Health Care REITs–(continued)** | **Health Care REITs–(continued)** | **Health Care REITs–(continued)** | **Health Care REITs–(continued)** |
| Ventas Realty L.P., 5.00%, <br> 02/15/2036<sup>(c)</sup> <br>|  | $1463000 | &nbsp;&nbsp; $1463276 |
|  |  |  | &nbsp;&nbsp; 6559958 |
| **Health Care Services–1.21%** | **Health Care Services–1.21%** | **Health Care Services–1.21%** | **Health Care Services–1.21%** |
| Cigna Group (The), | Cigna Group (The), |  |  |
| 4.50%, 09/15/2030 |  | 1207000 | &nbsp;&nbsp; 1223695 |
| 3.40%, 03/15/2051 |  | 130000 | &nbsp;&nbsp; 91633 |
| CommonSpirit Health, | CommonSpirit Health, |  |  |
| 5.32%, 12/01/2034 |  | 2471000 | &nbsp;&nbsp; 2553156 |
| 5.55%, 12/01/2054 |  | 797000 | &nbsp;&nbsp; 784437 |
| Community Health Systems, Inc., | Community Health Systems, Inc., |  |  |
| 5.25%, 05/15/2030<sup>(b)</sup> <br>|  | 377000 | &nbsp;&nbsp; 362513 |
| 4.75%, 02/15/2031<sup>(b)</sup> <br>|  | 270000 | &nbsp;&nbsp; 247937 |
| CVS Health Corp., | CVS Health Corp., |  |  |
| 5.00%, 01/30/2029 |  | 1219000 | &nbsp;&nbsp; 1251647 |
| 5.25%, 01/30/2031<sup>(c)</sup> <br>|  | 494000 | &nbsp;&nbsp; 514969 |
| 5.45%, 09/15/2035<sup>(c)</sup> <br>|  | 3957000 | &nbsp;&nbsp; 4088893 |
| 6.75%, 12/10/2054<sup>(c)(e)</sup> <br>|  | 1912000 | &nbsp;&nbsp; 1989914 |
| 7.00%, 03/10/2055<sup>(e)</sup> <br>|  | 8714000 | &nbsp;&nbsp; 9170692 |
| 6.20%, 09/15/2055<sup>(c)</sup> <br>|  | 3719000 | &nbsp;&nbsp; 3814969 |
| 6.00%, 06/01/2063 |  | 15000 | &nbsp;&nbsp; 14729 |
| 6.25%, 09/15/2065 |  | 4346000 | &nbsp;&nbsp; 4415208 |
| DaVita, Inc., | DaVita, Inc., |  |  |
| 6.88%, 09/01/2032<sup>(b)</sup> <br>|  | 273000 | &nbsp;&nbsp; 283841 |
| 6.75%, 07/15/2033<sup>(b)(c)</sup> <br>|  | 290000 | &nbsp;&nbsp; 301308 |
| HCA, Inc., | HCA, Inc., |  |  |
| 5.00%, 03/01/2028 |  | 1013000 | &nbsp;&nbsp; 1034335 |
| 4.30%, 11/15/2030 |  | 708000 | &nbsp;&nbsp; 709559 |
| 5.45%, 09/15/2034 |  | 539000 | &nbsp;&nbsp; 559836 |
| 5.75%, 03/01/2035<sup>(c)</sup> <br>|  | 2057000 | &nbsp;&nbsp; 2178233 |
| 5.25%, 06/15/2049 |  | 231000 | &nbsp;&nbsp; 211976 |
| 5.90%, 06/01/2053 |  | 1906000 | &nbsp;&nbsp; 1878244 |
| 6.20%, 03/01/2055<sup>(c)</sup> <br>|  | 1509000 | &nbsp;&nbsp; 1551108 |
| Icon Investments Six DAC, | Icon Investments Six DAC, |  |  |
| 5.81%, 05/08/2027 |  | 3282000 | &nbsp;&nbsp; 3312038 |
| 5.85%, 05/08/2029<sup>(c)</sup> <br>|  | 3404000 | &nbsp;&nbsp; 3486033 |
| 6.00%, 05/08/2034<sup>(c)</sup> <br>|  | 2590000 | &nbsp;&nbsp; 2658671 |
| Piedmont Healthcare, Inc., <br> 2.86%, 01/01/2052<br>|  | 737000 | &nbsp;&nbsp; 477435 |
| Quest Diagnostics, Inc., 6.40%, <br> 11/30/2033<br>|  | 870000 | &nbsp;&nbsp; 972979 |
|  |  |  | &nbsp;&nbsp; 50139988 |
| **Health Care Supplies–0.38%** | **Health Care Supplies–0.38%** | **Health Care Supplies–0.38%** | **Health Care Supplies–0.38%** |
| 180 Medical, Inc. (United <br> Kingdom), 5.30%, <br> 10/08/2035<sup>(b)</sup> <br>|  | 2683000 | &nbsp;&nbsp; 2702572 |
| Medline Borrower L.P., 3.88%, <br> 04/01/2029<sup>(b)</sup> <br>|  | 6367000 | &nbsp;&nbsp; 6266124 |
| Solventum Corp., | Solventum Corp., |  |  |
| 5.40%, 03/01/2029 |  | 636000 | &nbsp;&nbsp; 659631 |
| 5.60%, 03/23/2034 |  | 3341000 | &nbsp;&nbsp; 3494546 |
| 5.90%, 04/30/2054<sup>(c)</sup> <br>|  | 2432000 | &nbsp;&nbsp; 2429349 |
|  |  |  | &nbsp;&nbsp; 15552222 |

---

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

**14**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Heavy Electrical Equipment–0.25%** | **Heavy Electrical Equipment–0.25%** | **Heavy Electrical Equipment–0.25%** | **Heavy Electrical Equipment–0.25%** |
| GE Vernova, Inc., | GE Vernova, Inc., |  |  |
| 4.25%, 02/04/2031 |  | $2304000 | &nbsp;&nbsp; $2320744 |
| 4.88%, 02/04/2036<sup>(c)</sup> <br>|  | 4896000 | &nbsp;&nbsp; 4959849 |
| 5.50%, 02/04/2056 |  | 2995000 | &nbsp;&nbsp; 2973605 |
|  |  |  | &nbsp;&nbsp; 10254198 |
| **Highways & Railtracks–0.19%** | **Highways & Railtracks–0.19%** | **Highways & Railtracks–0.19%** | **Highways & Railtracks–0.19%** |
| Burlington Northern Santa Fe LLC, | Burlington Northern Santa Fe LLC, |  |  |
| 5.20%, 04/15/2054 |  | 1928000 | &nbsp;&nbsp; 1844880 |
| 5.55%, 03/15/2056 |  | 1375000 | &nbsp;&nbsp; 1381111 |
| 5.80%, 03/15/2056 |  | 4429000 | &nbsp;&nbsp; 4633693 |
|  |  |  | &nbsp;&nbsp; 7859684 |
| **Home Improvement Retail–0.06%** | **Home Improvement Retail–0.06%** | **Home Improvement Retail–0.06%** | **Home Improvement Retail–0.06%** |
| Home Depot, Inc. (The), | Home Depot, Inc. (The), |  |  |
| 4.65%, 09/15/2035 |  | 1614000 | &nbsp;&nbsp; 1616503 |
| 4.95%, 09/15/2052<sup>(c)</sup> <br>|  | 615000 | &nbsp;&nbsp; 569414 |
| Lowe's Cos., Inc., | Lowe's Cos., Inc., |  |  |
| 5.63%, 04/15/2053 |  | 193000 | &nbsp;&nbsp; 190225 |
| 4.45%, 04/01/2062 |  | 35000 | &nbsp;&nbsp; 27790 |
| 5.80%, 09/15/2062 |  | 163000 | &nbsp;&nbsp; 162000 |
| 5.85%, 04/01/2063 |  | 73000 | &nbsp;&nbsp; 73106 |
|  |  |  | &nbsp;&nbsp; 2639038 |
| **Homebuilding–0.11%** | **Homebuilding–0.11%** | **Homebuilding–0.11%** | **Homebuilding–0.11%** |
| D.R. Horton, Inc., 5.00%, <br> 10/15/2034<sup>(c)</sup> <br>|  | 1086000 | &nbsp;&nbsp; 1113649 |
| Toll Brothers Finance Corp., <br> 5.60%, 06/15/2035<sup>(c)</sup> <br>|  | 3241000 | &nbsp;&nbsp; 3431552 |
|  |  |  | &nbsp;&nbsp; 4545201 |
| **Hotel & Resort REITs–0.16%** | **Hotel & Resort REITs–0.16%** | **Hotel & Resort REITs–0.16%** | **Hotel & Resort REITs–0.16%** |
| Phillips Edison Grocery Center <br> Operating Partnership I L.P., | Phillips Edison Grocery Center <br> Operating Partnership I L.P., |  |  |
| 5.25%, 08/15/2032 |  | 2485000 | &nbsp;&nbsp; 2573301 |
| 4.75%, 03/15/2033 |  | 1859000 | &nbsp;&nbsp; 1862893 |
| 5.75%, 07/15/2034 |  | 560000 | &nbsp;&nbsp; 593960 |
| 4.95%, 01/15/2035 |  | 1155000 | &nbsp;&nbsp; 1156798 |
| RLJ Lodging Trust L.P., 4.00%, <br> 09/15/2029<sup>(b)(c)</sup> <br>|  | 475000 | &nbsp;&nbsp; 454779 |
|  |  |  | &nbsp;&nbsp; 6641731 |
| **Hotels, Resorts & Cruise Lines–0.61%** | **Hotels, Resorts & Cruise Lines–0.61%** | **Hotels, Resorts & Cruise Lines–0.61%** | **Hotels, Resorts & Cruise Lines–0.61%** |
| Carnival Corp., | Carnival Corp., |  |  |
| 7.00%, 08/15/2029<sup>(b)</sup> <br>|  | 328000 | &nbsp;&nbsp; 343429 |
| 5.75%, 03/15/2030<sup>(b)</sup> <br>|  | 63000 | &nbsp;&nbsp; 65201 |
| 5.88%, 06/15/2031<sup>(b)</sup> <br>|  | 190000 | &nbsp;&nbsp; 198683 |
| 5.75%, 08/01/2032<sup>(b)</sup> <br>|  | 145000 | &nbsp;&nbsp; 150662 |
| 6.13%, 02/15/2033<sup>(b)</sup> <br>|  | 9000 | &nbsp;&nbsp; 9323 |
| Choice Hotels International, Inc., <br> 5.85%, 08/01/2034<br>|  | 18000 | &nbsp;&nbsp; 18678 |
| Expedia Group, Inc., 5.40%, <br> 02/15/2035<sup>(c)</sup> <br>|  | 3125000 | &nbsp;&nbsp; 3159010 |
| Hilton Domestic Operating Co., Inc., | Hilton Domestic Operating Co., Inc., |  |  |
| 5.88%, 04/01/2029<sup>(b)</sup> <br>|  | 4823000 | &nbsp;&nbsp; 4940488 |
| 3.75%, 05/01/2029<sup>(b)</sup> <br>|  | 4883000 | &nbsp;&nbsp; 4756993 |
| 6.13%, 04/01/2032<sup>(b)</sup> <br>|  | 34000 | &nbsp;&nbsp; 35174 |
| 5.88%, 03/15/2033<sup>(b)</sup> <br>|  | 1108000 | &nbsp;&nbsp; 1141260 |
| Marriott International, Inc., <br> 5.30%, 05/15/2034<br>|  | 841000 | &nbsp;&nbsp; 874742 |
| Marriott Ownership Resorts, Inc., <br> 6.50%, 10/01/2033<sup>(b)(c)</sup> <br>|  | 1062000 | &nbsp;&nbsp; 1030441 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Hotels, Resorts & Cruise Lines–(continued)** | **Hotels, Resorts & Cruise Lines–(continued)** | **Hotels, Resorts & Cruise Lines–(continued)** | **Hotels, Resorts & Cruise Lines–(continued)** |
| Royal Caribbean Cruises Ltd., | Royal Caribbean Cruises Ltd., |  |  |
| 5.50%, 04/01/2028<sup>(b)</sup> <br>|  | $424000 | &nbsp;&nbsp; $433430 |
| 6.25%, 03/15/2032<sup>(b)</sup> <br>|  | 504000 | &nbsp;&nbsp; 525721 |
| 6.00%, 02/01/2033<sup>(b)</sup> <br>|  | 7418000 | &nbsp;&nbsp; 7686115 |
|  |  |  | &nbsp;&nbsp; 25369350 |
| **Housewares & Specialties–0.02%** | **Housewares & Specialties–0.02%** | **Housewares & Specialties–0.02%** | **Housewares & Specialties–0.02%** |
| Newell Brands, Inc., | Newell Brands, Inc., |  |  |
| 6.38%, 09/15/2027 |  | 175000 | &nbsp;&nbsp; 178093 |
| 6.63%, 09/15/2029 |  | 282000 | &nbsp;&nbsp; 286630 |
| 6.38%, 05/15/2030<sup>(c)</sup> <br>|  | 329000 | &nbsp;&nbsp; 330274 |
|  |  |  | &nbsp;&nbsp; 794997 |
| **Independent Power Producers & Energy Traders–0.35%** | **Independent Power Producers & Energy Traders–0.35%** | **Independent Power Producers & Energy Traders–0.35%** | **Independent Power Producers & Energy Traders–0.35%** |
| AES Corp. (The), 5.80%, <br> 03/15/2032<sup>(c)</sup> <br>|  | 7152000 | &nbsp;&nbsp; 7473913 |
| FIEMEX Energia - Banco Actinver <br> S.A. Institucion de Banca <br> Multiple (Mexico), 7.25%, <br> 01/31/2041<sup>(b)</sup> <br>|  | 1370862 | &nbsp;&nbsp; 1431413 |
| Vistra Corp., | Vistra Corp., |  |  |
| 7.00%<sup>(b)(e)(h)</sup> <br>|  | 1724000 | &nbsp;&nbsp; 1745719 |
| 8.00%<sup>(b)(e)(h)</sup> <br>|  | 271000 | &nbsp;&nbsp; 276242 |
| Series C, 8.88%<sup>(b)(e)(h)</sup> <br>|  | 812000 | &nbsp;&nbsp; 897625 |
| VoltaGrid LLC, 7.38%, <br> 11/01/2030<sup>(b)</sup> <br>|  | 2427000 | &nbsp;&nbsp; 2535393 |
|  |  |  | &nbsp;&nbsp; 14360305 |
| **Industrial Conglomerates–0.23%** | **Industrial Conglomerates–0.23%** | **Industrial Conglomerates–0.23%** | **Industrial Conglomerates–0.23%** |
| Honeywell International, Inc., | Honeywell International, Inc., |  |  |
| 4.25%, 01/15/2029 |  | 10000 | &nbsp;&nbsp; 10116 |
| 4.95%, 09/01/2031<sup>(c)</sup> <br>|  | 1924000 | &nbsp;&nbsp; 2011335 |
| 5.00%, 02/15/2033 |  | 514000 | &nbsp;&nbsp; 536344 |
| 5.25%, 03/01/2054 |  | 323000 | &nbsp;&nbsp; 311098 |
| 5.35%, 03/01/2064 |  | 244000 | &nbsp;&nbsp; 237018 |
| Siemens Funding B.V. (Germany), | Siemens Funding B.V. (Germany), |  |  |
| 4.60%, 05/28/2030<sup>(b)</sup> <br>|  | 1751000 | &nbsp;&nbsp; 1794850 |
| 4.90%, 05/28/2032<sup>(b)(c)</sup> <br>|  | 1207000 | &nbsp;&nbsp; 1254139 |
| 5.20%, 05/28/2035<sup>(b)</sup> <br>|  | 2521000 | &nbsp;&nbsp; 2644368 |
| 5.90%, 05/28/2065<sup>(b)</sup> <br>|  | 857000 | &nbsp;&nbsp; 909188 |
|  |  |  | &nbsp;&nbsp; 9708456 |
| **Industrial Machinery & Supplies & Components–0.53%** | **Industrial Machinery & Supplies & Components–0.53%** | **Industrial Machinery & Supplies & Components–0.53%** | **Industrial Machinery & Supplies & Components–0.53%** |
| Enpro, Inc., 6.13%, <br> 06/01/2033<sup>(b)</sup> <br>|  | 1139000 | &nbsp;&nbsp; 1178350 |
| ESAB Corp., 6.25%, <br> 04/15/2029<sup>(b)</sup> <br>|  | 5633000 | &nbsp;&nbsp; 5781193 |
| Ingersoll Rand, Inc., | Ingersoll Rand, Inc., |  |  |
| 5.20%, 06/15/2027 |  | 767000 | &nbsp;&nbsp; 778424 |
| 5.40%, 08/14/2028 |  | 154000 | &nbsp;&nbsp; 159326 |
| Nordson Corp., | Nordson Corp., |  |  |
| 5.60%, 09/15/2028 |  | 279000 | &nbsp;&nbsp; 288638 |
| 5.80%, 09/15/2033 |  | 795000 | &nbsp;&nbsp; 850366 |
| nVent Finance S.a.r.l. (United <br> Kingdom), 5.65%, <br> 05/15/2033<br>|  | 1334000 | &nbsp;&nbsp; 1410227 |
| Roller Bearing Co. of America, <br> Inc., 4.38%, 10/15/2029<sup>(b)</sup> <br>|  | 5702000 | &nbsp;&nbsp; 5626514 |
| Stanley Black & Decker, Inc., <br> 2.75%, 11/15/2050<br>|  | 3773000 | &nbsp;&nbsp; 2285788 |

---

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

**15**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Industrial Machinery & Supplies & Components–(continued)** | **Industrial Machinery & Supplies & Components–(continued)** | **Industrial Machinery & Supplies & Components–(continued)** | **Industrial Machinery & Supplies & Components–(continued)** |
| Weir Group, Inc. (United <br> Kingdom), 5.35%, <br> 05/06/2030<sup>(b)</sup> <br>|  | $3316000 | &nbsp;&nbsp; $3434153 |
|  |  |  | &nbsp;&nbsp; 21792979 |
| **Industrial REITs–0.00%** | **Industrial REITs–0.00%** | **Industrial REITs–0.00%** | **Industrial REITs–0.00%** |
| LXP Industrial Trust, 6.75%, <br> 11/15/2028<br>|  | 122000 | &nbsp;&nbsp; 129337 |
| **Insurance Brokers–0.50%** | **Insurance Brokers–0.50%** | **Insurance Brokers–0.50%** | **Insurance Brokers–0.50%** |
| Alliant Holdings Intermediate LLC/<br> Alliant Holdings Co-Issuer, <br> 7.00%, 01/15/2031<sup>(b)</sup> <br>|  | 838000 | &nbsp;&nbsp; 853792 |
| Aon Corp./Aon Global Holdings <br> PLC, 5.35%, 02/28/2033<br>|  | 465000 | &nbsp;&nbsp; 486755 |
| Arthur J. Gallagher & Co., | Arthur J. Gallagher & Co., |  |  |
| 4.85%, 12/15/2029 |  | 234000 | &nbsp;&nbsp; 239801 |
| 5.00%, 02/15/2032 |  | 405000 | &nbsp;&nbsp; 414177 |
| 5.15%, 02/15/2035 |  | 900000 | &nbsp;&nbsp; 912775 |
| 6.75%, 02/15/2054 |  | 37000 | &nbsp;&nbsp; 40509 |
| 5.55%, 02/15/2055<sup>(c)</sup> <br>|  | 1677000 | &nbsp;&nbsp; 1606096 |
| Howden UK Refinance <br> PLC/Howden UK Refinance 2 <br> PLC/Howden US Refinance LLC <br> (United Kingdom), 8.13%, <br> 02/15/2032<sup>(b)</sup> <br>|  | 324000 | &nbsp;&nbsp; 310485 |
| HUB International Ltd., 7.25%, <br> 06/15/2030<sup>(b)</sup> <br>|  | 811000 | &nbsp;&nbsp; 836976 |
| Marsh & McLennan Cos., Inc., | Marsh & McLennan Cos., Inc., |  |  |
| 5.40%, 09/15/2033<sup>(c)</sup> <br>|  | 1328000 | &nbsp;&nbsp; 1398746 |
| 4.95%, 03/15/2036 |  | 5951000 | &nbsp;&nbsp; 6006219 |
| 2.90%, 12/15/2051 |  | 50000 | &nbsp;&nbsp; 31817 |
| 6.25%, 11/01/2052 |  | 497000 | &nbsp;&nbsp; 534178 |
| 5.45%, 03/15/2053 |  | 532000 | &nbsp;&nbsp; 512465 |
| 5.70%, 09/15/2053<sup>(c)</sup> <br>|  | 1476000 | &nbsp;&nbsp; 1476522 |
| Willis North America, Inc., | Willis North America, Inc., |  |  |
| 4.55%, 03/15/2031 |  | 2365000 | &nbsp;&nbsp; 2367791 |
| 5.15%, 03/15/2036 |  | 2458000 | &nbsp;&nbsp; 2459503 |
|  |  |  | &nbsp;&nbsp; 20488607 |
| **Integrated Oil & Gas–1.49%** | **Integrated Oil & Gas–1.49%** | **Integrated Oil & Gas–1.49%** | **Integrated Oil & Gas–1.49%** |
| Ecopetrol S.A. (Colombia), <br> 8.88%, 01/13/2033<br>|  | 3679000 | &nbsp;&nbsp; 3907049 |
| Eni S.p.A. (Italy), 5.50%, <br> 05/15/2034<sup>(b)</sup> <br>|  | 2383000 | &nbsp;&nbsp; 2499154 |
| Occidental Petroleum Corp., | Occidental Petroleum Corp., |  |  |
| 6.45%, 09/15/2036 |  | 2563000 | &nbsp;&nbsp; 2793321 |
| 6.20%, 03/15/2040<sup>(c)</sup> <br>|  | 2677000 | &nbsp;&nbsp; 2792036 |
| 4.63%, 06/15/2045 |  | 3697000 | &nbsp;&nbsp; 3062520 |
| 6.60%, 03/15/2046<sup>(c)</sup> <br>|  | 7843000 | &nbsp;&nbsp; 8337956 |
| 4.40%, 04/15/2046 |  | 1995000 | &nbsp;&nbsp; 1633818 |
| 4.10%, 02/15/2047 |  | 2962000 | &nbsp;&nbsp; 2242331 |
| Petroleos Mexicanos (Mexico), | Petroleos Mexicanos (Mexico), |  |  |
| 8.75%, 06/02/2029 |  | 4302000 | &nbsp;&nbsp; 4631761 |
| 6.63%, 06/15/2035 |  | 290000 | &nbsp;&nbsp; 277747 |
| SA Global Sukuk Ltd. (Saudi Arabia), | SA Global Sukuk Ltd. (Saudi Arabia), |  |  |
| 4.13%, 09/17/2030<sup>(b)</sup> <br>|  | 10480000 | &nbsp;&nbsp; 10404715 |
| 4.63%, 09/17/2035<sup>(b)</sup> <br>|  | 5327000 | &nbsp;&nbsp; 5233130 |
| Saudi Arabian Oil Co. (Saudi Arabia), | Saudi Arabian Oil Co. (Saudi Arabia), |  |  |
| 4.00%, 02/02/2029<sup>(b)(c)</sup> <br>|  | 4805000 | &nbsp;&nbsp; 4808568 |
| 4.75%, 06/02/2030<sup>(b)</sup> <br>|  | 5785000 | &nbsp;&nbsp; 5906239 |
| 5.38%, 06/02/2035<sup>(b)</sup> <br>|  | 2918000 | &nbsp;&nbsp; 3031408 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Integrated Oil & Gas–(continued)** | **Integrated Oil & Gas–(continued)** | **Integrated Oil & Gas–(continued)** | **Integrated Oil & Gas–(continued)** |
| Shell Finance US, Inc., 3.75%, <br> 09/12/2046<br>|  | $260000 | &nbsp;&nbsp; $206453 |
|  |  |  | &nbsp;&nbsp; 61768206 |
| **Integrated Telecommunication Services–1.93%** | **Integrated Telecommunication Services–1.93%** | **Integrated Telecommunication Services–1.93%** | **Integrated Telecommunication Services–1.93%** |
| AT&T, Inc., | AT&T, Inc., |  |  |
| 4.70%, 08/15/2030<sup>(c)</sup> <br>|  | 2563000 | &nbsp;&nbsp; 2628480 |
| 5.40%, 02/15/2034 |  | 1220000 | &nbsp;&nbsp; 1279143 |
| 5.38%, 08/15/2035 |  | 3934000 | &nbsp;&nbsp; 4087688 |
| 5.55%, 11/01/2045 |  | 272000 | &nbsp;&nbsp; 268011 |
| 4.50%, 03/09/2048 |  | 243000 | &nbsp;&nbsp; 204151 |
| 3.50%, 09/15/2053 |  | 307000 | &nbsp;&nbsp; 209634 |
| 5.70%, 11/01/2054 |  | 74000 | &nbsp;&nbsp; 71850 |
| 3.55%, 09/15/2055 |  | 9299000 | &nbsp;&nbsp; 6302704 |
| 6.05%, 08/15/2056 |  | 8200000 | &nbsp;&nbsp; 8352925 |
| Bell Canada (Canada), | Bell Canada (Canada), |  |  |
| 6.88%, 09/15/2055<sup>(e)</sup> <br>|  | 24000 | &nbsp;&nbsp; 25072 |
| 7.00%, 09/15/2055<sup>(c)(e)</sup> <br>|  | 1873000 | &nbsp;&nbsp; 1983393 |
| Cipher Compute LLC, 7.13%, <br> 11/15/2030<sup>(b)</sup> <br>|  | 4735000 | &nbsp;&nbsp; 4941417 |
| FiberCop S.p.A. (Italy), | FiberCop S.p.A. (Italy), |  |  |
| 6.00%, 09/30/2034<sup>(b)</sup> <br>|  | 850000 | &nbsp;&nbsp; 835332 |
| 7.20%, 07/18/2036<sup>(b)</sup> <br>|  | 875000 | &nbsp;&nbsp; 889327 |
| Iliad Holding S.A.S. (France), | Iliad Holding S.A.S. (France), |  |  |
| 7.00%, 10/15/2028<sup>(b)</sup> <br>|  | 137000 | &nbsp;&nbsp; 138904 |
| 8.50%, 04/15/2031<sup>(b)</sup> <br>|  | 1386000 | &nbsp;&nbsp; 1485694 |
| 7.00%, 04/15/2032<sup>(b)</sup> <br>|  | 95000 | &nbsp;&nbsp; 97642 |
| Level 3 Financing, Inc., | Level 3 Financing, Inc., |  |  |
| 6.88%, 06/30/2033<sup>(b)</sup> <br>|  | 595000 | &nbsp;&nbsp; 616697 |
| 7.00%, 03/31/2034<sup>(b)</sup> <br>|  | 594667 | &nbsp;&nbsp; 618635 |
| 8.50%, 01/15/2036<sup>(b)</sup> <br>|  | 255000 | &nbsp;&nbsp; 265776 |
| NTT Finance Corp. (Japan), | NTT Finance Corp. (Japan), |  |  |
| 4.88%, 07/16/2030<sup>(b)</sup> <br>|  | 1512000 | &nbsp;&nbsp; 1551495 |
| 5.50%, 07/16/2035<sup>(b)(c)</sup> <br>|  | 2444000 | &nbsp;&nbsp; 2554396 |
| Orange S.A. (France), 5.75%, <br> 01/13/2056<sup>(b)</sup> <br>|  | 200000 | &nbsp;&nbsp; 206217 |
| SV RNO Property Owner 1 LLC, <br> 5.88%, 03/01/2031<sup>(b)</sup> <br>|  | 2650000 | &nbsp;&nbsp; 2663740 |
| Telecom Italia Capital S.A. (Italy), | Telecom Italia Capital S.A. (Italy), |  |  |
| 6.38%, 11/15/2033<sup>(c)</sup> <br>|  | 553000 | &nbsp;&nbsp; 587764 |
| 7.72%, 06/04/2038 |  | 5000 | &nbsp;&nbsp; 5719 |
| Telefonica Emisiones S.A. (Spain), <br> 7.05%, 06/20/2036<br>|  | 732000 | &nbsp;&nbsp; 828710 |
| TELUS Corp. (Canada), | TELUS Corp. (Canada), |  |  |
| 6.38%, 06/09/2056<sup>(e)</sup> <br>|  | 2230000 | &nbsp;&nbsp; 2271647 |
| 6.63%, 06/09/2056<sup>(c)(e)</sup> <br>|  | 4854000 | &nbsp;&nbsp; 4895039 |
| Uniti Services LLC, 7.50%, <br> 10/15/2033<sup>(b)</sup> <br>|  | 1039000 | &nbsp;&nbsp; 1081767 |
| Verizon Communications, Inc., | Verizon Communications, Inc., |  |  |
| 4.50%, 08/10/2033 |  | 6443000 | &nbsp;&nbsp; 6428702 |
| 5.25%, 04/02/2035<sup>(c)</sup> <br>|  | 3875000 | &nbsp;&nbsp; 3991288 |
| 5.00%, 01/15/2036<sup>(c)</sup> <br>|  | 3379000 | &nbsp;&nbsp; 3395290 |
| 3.40%, 03/22/2041 |  | 322000 | &nbsp;&nbsp; 256569 |
| 5.75%, 11/30/2045 |  | 5687000 | &nbsp;&nbsp; 5752176 |
| 5.50%, 02/23/2054<sup>(c)</sup> <br>|  | 307000 | &nbsp;&nbsp; 299670 |
| 5.88%, 11/30/2055<sup>(c)</sup> <br>|  | 1591627 | &nbsp;&nbsp; 1603401 |
| 3.00%, 11/20/2060 |  | 259000 | &nbsp;&nbsp; 154883 |
| 3.70%, 03/22/2061 |  | 738000 | &nbsp;&nbsp; 510991 |
| 6.00%, 11/30/2065 |  | 2240000 | &nbsp;&nbsp; 2250426 |

---

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

**16**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Integrated Telecommunication Services–(continued)** | **Integrated Telecommunication Services–(continued)** | **Integrated Telecommunication Services–(continued)** | **Integrated Telecommunication Services–(continued)** |
| WULF Compute LLC, 7.75%, <br> 10/15/2030<sup>(b)(c)</sup> <br>|  | $3130000 | &nbsp;&nbsp; $3317093 |
|  |  |  | &nbsp;&nbsp; 79909458 |
| **Interactive Home Entertainment–0.02%** | **Interactive Home Entertainment–0.02%** | **Interactive Home Entertainment–0.02%** | **Interactive Home Entertainment–0.02%** |
| Roblox Corp., 3.88%, <br> 05/01/2030<sup>(b)</sup> <br>|  | 782000 | &nbsp;&nbsp; 747218 |
| **Interactive Media & Services–2.22%** | **Interactive Media & Services–2.22%** | **Interactive Media & Services–2.22%** | **Interactive Media & Services–2.22%** |
| Alphabet, Inc., | Alphabet, Inc., |  |  |
| 4.10%, 02/15/2031 |  | 6635000 | &nbsp;&nbsp; 6680142 |
| 4.38%, 11/15/2032 |  | 418000 | &nbsp;&nbsp; 423826 |
| 4.40%, 02/15/2033 |  | 7416000 | &nbsp;&nbsp; 7483549 |
| 4.70%, 11/15/2035 |  | 1639000 | &nbsp;&nbsp; 1660211 |
| 4.80%, 02/15/2036 |  | 4568000 | &nbsp;&nbsp; 4644821 |
| 5.35%, 11/15/2045 |  | 3147000 | &nbsp;&nbsp; 3162536 |
| 5.50%, 02/15/2046 |  | 244000 | &nbsp;&nbsp; 248613 |
| 5.45%, 11/15/2055 |  | 1976000 | &nbsp;&nbsp; 1965550 |
| 5.65%, 02/15/2056 |  | 10425000 | &nbsp;&nbsp; 10675169 |
| 5.30%, 05/15/2065 |  | 1591000 | &nbsp;&nbsp; 1510242 |
| 5.75%, 02/15/2066 |  | 222000 | &nbsp;&nbsp; 226255 |
| Discovery Global Holdings, Inc., | Discovery Global Holdings, Inc., |  |  |
| 4.28%, 03/15/2032 |  | 185000 | &nbsp;&nbsp; 170200 |
| 5.05%, 03/15/2042 |  | 7795000 | &nbsp;&nbsp; 5495475 |
| 5.14%, 03/15/2052 |  | 190000 | &nbsp;&nbsp; 124925 |
| Flutter Treasury DAC (Ireland), <br> 5.88%, 06/04/2031<sup>(b)(c)</sup> <br>|  | 4112000 | &nbsp;&nbsp; 4102867 |
| Getty Images, Inc., 10.50%, <br> 11/15/2030<sup>(b)</sup> <br>|  | 581000 | &nbsp;&nbsp; 514756 |
| Match Group Holdings II LLC, | Match Group Holdings II LLC, |  |  |
| 3.63%, 10/01/2031<sup>(b)</sup> <br>|  | 55000 | &nbsp;&nbsp; 49946 |
| 6.13%, 09/15/2033<sup>(b)</sup> <br>|  | 1656000 | &nbsp;&nbsp; 1652450 |
| Meta Platforms, Inc., | Meta Platforms, Inc., |  |  |
| 4.55%, 08/15/2031 |  | 635000 | &nbsp;&nbsp; 650557 |
| 4.75%, 08/15/2034 |  | 2112000 | &nbsp;&nbsp; 2145414 |
| 4.88%, 11/15/2035<sup>(c)</sup> <br>|  | 8951000 | &nbsp;&nbsp; 9043527 |
| 4.45%, 08/15/2052 |  | 644000 | &nbsp;&nbsp; 528994 |
| 5.40%, 08/15/2054 |  | 4342000 | &nbsp;&nbsp; 4102718 |
| 5.63%, 11/15/2055 |  | 6695000 | &nbsp;&nbsp; 6558403 |
| 4.65%, 08/15/2062 |  | 1618000 | &nbsp;&nbsp; 1316102 |
| 5.75%, 05/15/2063 |  | 1831000 | &nbsp;&nbsp; 1782513 |
| 5.55%, 08/15/2064 |  | 4722000 | &nbsp;&nbsp; 4452674 |
| 5.75%, 11/15/2065 |  | 10830000 | &nbsp;&nbsp; 10558577 |
|  |  |  | &nbsp;&nbsp; 91931012 |
| **Internet Services & Infrastructure–0.88%** | **Internet Services & Infrastructure–0.88%** | **Internet Services & Infrastructure–0.88%** | **Internet Services & Infrastructure–0.88%** |
| Beignet Investor LLC, 6.58%, <br> 05/30/2049<sup>(b)</sup> <br>|  | 31873000 | &nbsp;&nbsp; 33869960 |
| CoreWeave, Inc., | CoreWeave, Inc., |  |  |
| 9.25%, 06/01/2030<sup>(b)(c)</sup> <br>|  | 1618000 | &nbsp;&nbsp; 1586433 |
| 9.00%, 02/01/2031<sup>(b)(c)</sup> <br>|  | 866000 | &nbsp;&nbsp; 836657 |
|  |  |  | &nbsp;&nbsp; 36293050 |
| **Investment Banking & Brokerage–4.69%** | **Investment Banking & Brokerage–4.69%** | **Investment Banking & Brokerage–4.69%** | **Investment Banking & Brokerage–4.69%** |
| Brookfield Finance, Inc. (Canada), | Brookfield Finance, Inc. (Canada), |  |  |
| 5.33%, 01/15/2036<sup>(c)</sup> <br>|  | 7529000 | &nbsp;&nbsp; 7518517 |
| 5.97%, 03/04/2054 |  | 80000 | &nbsp;&nbsp; 79915 |
| Charles Schwab Corp. (The), | Charles Schwab Corp. (The), |  |  |
| 4.34%, 11/14/2031<sup>(c)(e)</sup> <br>|  | 1651000 | &nbsp;&nbsp; 1662019 |
| 4.91%, 11/14/2036<sup>(e)</sup> <br>|  | 120000 | &nbsp;&nbsp; 120083 |
| Series K, 5.00%<sup>(c)(e)(h)</sup> <br>|  | 1027000 | &nbsp;&nbsp; 1028149 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Investment Banking & Brokerage–(continued)** | **Investment Banking & Brokerage–(continued)** | **Investment Banking & Brokerage–(continued)** | **Investment Banking & Brokerage–(continued)** |
| Goldman Sachs Group, Inc. (The), | Goldman Sachs Group, Inc. (The), |  |  |
| 4.52% (SOFR + 0.81%), <br> 03/09/2027<sup>(f)</sup> <br>|  | $39000 | &nbsp;&nbsp; $39009 |
| 5.68% (3 mo. Term SOFR + <br> 2.01%), 10/28/2027<sup>(f)</sup> <br>|  | 424000 | &nbsp;&nbsp; 428090 |
| 4.99% (SOFR + 1.29%), <br> 04/23/2028<sup>(f)</sup> <br>|  | 43000 | &nbsp;&nbsp; 43333 |
| 4.15%, 01/21/2029<sup>(e)</sup> <br>|  | 6523000 | &nbsp;&nbsp; 6527391 |
| 5.73%, 04/25/2030<sup>(e)</sup> <br>|  | 851000 | &nbsp;&nbsp; 889244 |
| 5.05%, 07/23/2030<sup>(e)</sup> <br>|  | 1356000 | &nbsp;&nbsp; 1391317 |
| 4.69%, 10/23/2030<sup>(e)</sup> <br>|  | 1032000 | &nbsp;&nbsp; 1048975 |
| 5.21%, 01/28/2031<sup>(e)</sup> <br>|  | 1432000 | &nbsp;&nbsp; 1484155 |
| 5.22%, 04/23/2031<sup>(e)</sup> <br>|  | 3135000 | &nbsp;&nbsp; 3245981 |
| 4.37%, 10/21/2031<sup>(e)</sup> <br>|  | 6130000 | &nbsp;&nbsp; 6135235 |
| 4.52%, 01/21/2032<sup>(c)(e)</sup> <br>|  | 14119000 | &nbsp;&nbsp; 14209271 |
| 5.85%, 04/25/2035<sup>(e)</sup> <br>|  | 1303000 | &nbsp;&nbsp; 1389747 |
| 5.33%, 07/23/2035<sup>(e)</sup> <br>|  | 1424000 | &nbsp;&nbsp; 1470400 |
| 6.75%, 10/01/2037 |  | 939000 | &nbsp;&nbsp; 1055201 |
| 4.02%, 10/31/2038<sup>(e)</sup> <br>|  | 256000 | &nbsp;&nbsp; 231431 |
| 5.39%, 02/02/2041<sup>(e)</sup> <br>|  | 22760000 | &nbsp;&nbsp; 22596993 |
| 3.21%, 04/22/2042<sup>(e)</sup> <br>|  | 162000 | &nbsp;&nbsp; 125133 |
| 4.80%, 07/08/2044 |  | 831000 | &nbsp;&nbsp; 768454 |
| 5.54%, 01/21/2047<sup>(e)</sup> <br>|  | 18266000 | &nbsp;&nbsp; 18191236 |
| 5.73%, 01/28/2056<sup>(e)</sup> <br>|  | 4194000 | &nbsp;&nbsp; 4249009 |
| Series T, 3.80%<sup>(e)(h)</sup> <br>|  | 124000 | &nbsp;&nbsp; 124137 |
| Series V, 4.13%<sup>(e)(h)</sup> <br>|  | 1177000 | &nbsp;&nbsp; 1171113 |
| Series W, 7.50%<sup>(c)(e)(h)</sup> <br>|  | 5773000 | &nbsp;&nbsp; 6175205 |
| Series X, 7.50%<sup>(e)(h)</sup> <br>|  | 5400000 | &nbsp;&nbsp; 5751405 |
| Morgan Stanley, | Morgan Stanley, |  |  |
| 5.12%, 02/01/2029<sup>(e)</sup> <br>|  | 337000 | &nbsp;&nbsp; 344076 |
| 4.99%, 04/12/2029<sup>(e)</sup> <br>|  | 870000 | &nbsp;&nbsp; 885943 |
| 5.16%, 04/20/2029<sup>(e)</sup> <br>|  | 1529000 | &nbsp;&nbsp; 1563866 |
| 5.45%, 07/20/2029<sup>(e)</sup> <br>|  | 351000 | &nbsp;&nbsp; 361982 |
| 6.41%, 11/01/2029<sup>(e)</sup> <br>|  | 821000 | &nbsp;&nbsp; 869389 |
| 4.24%, 01/09/2030<sup>(e)</sup> <br>|  | 8285000 | &nbsp;&nbsp; 8315092 |
| 5.17%, 01/16/2030<sup>(e)</sup> <br>|  | 470000 | &nbsp;&nbsp; 483210 |
| 5.04%, 07/19/2030<sup>(e)</sup> <br>|  | 975000 | &nbsp;&nbsp; 1003376 |
| 4.65%, 10/18/2030<sup>(e)</sup> <br>|  | 1531000 | &nbsp;&nbsp; 1556249 |
| 5.19%, 04/17/2031<sup>(e)</sup> <br>|  | 2562000 | &nbsp;&nbsp; 2654502 |
| 4.49%, 01/16/2032<sup>(e)</sup> <br>|  | 15251000 | &nbsp;&nbsp; 15342763 |
| 4.89%, 07/20/2033<sup>(e)</sup> <br>|  | 39000 | &nbsp;&nbsp; 39791 |
| 5.25%, 04/21/2034<sup>(e)</sup> <br>|  | 2038000 | &nbsp;&nbsp; 2112162 |
| 5.42%, 07/21/2034<sup>(e)</sup> <br>|  | 1072000 | &nbsp;&nbsp; 1119968 |
| 5.47%, 01/18/2035<sup>(e)</sup> <br>|  | 653000 | &nbsp;&nbsp; 683789 |
| 5.83%, 04/19/2035<sup>(e)</sup> <br>|  | 1118000 | &nbsp;&nbsp; 1195097 |
| 5.32%, 07/19/2035<sup>(e)</sup> <br>|  | 1971000 | &nbsp;&nbsp; 2041560 |
| 5.07%, 01/30/2037<sup>(e)</sup> <br>|  | 17286000 | &nbsp;&nbsp; 17440089 |
| 5.95%, 01/19/2038<sup>(e)</sup> <br>|  | 567000 | &nbsp;&nbsp; 597921 |
| 5.31%, 01/18/2041<sup>(c)(e)</sup> <br>|  | 9869000 | &nbsp;&nbsp; 9822585 |
| Series I, 4.36%, <br> 10/22/2031<sup>(e)</sup> <br>|  | 6358000 | &nbsp;&nbsp; 6374276 |
| Nomura Holdings, Inc. (Japan), | Nomura Holdings, Inc. (Japan), |  |  |
| 4.90%, 07/01/2030 |  | 3282000 | &nbsp;&nbsp; 3358790 |
| 5.49%, 06/29/2035<sup>(c)</sup> <br>|  | 3295000 | &nbsp;&nbsp; 3439155 |
| Raymond James Financial, Inc., | Raymond James Financial, Inc., |  |  |
| 4.90%, 09/11/2035<sup>(c)</sup> <br>|  | 3147000 | &nbsp;&nbsp; 3143186 |
| 3.75%, 04/01/2051 |  | 100000 | &nbsp;&nbsp; 74091 |
| 5.65%, 09/11/2055 |  | 22000 | &nbsp;&nbsp; 21549 |
|  |  |  | &nbsp;&nbsp; 193994605 |

---

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

**17**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **IT Consulting & Other Services–0.65%** | **IT Consulting & Other Services–0.65%** | **IT Consulting & Other Services–0.65%** | **IT Consulting & Other Services–0.65%** |
| International Business Machines Corp., | International Business Machines Corp., |  |  |
| 4.00%, 02/03/2029 |  | $2340000 | &nbsp;&nbsp; $2348758 |
| 4.30%, 02/03/2031 |  | 7190000 | &nbsp;&nbsp; 7232265 |
| 4.95%, 02/03/2036<sup>(c)</sup> <br>|  | 10680000 | &nbsp;&nbsp; 10704959 |
| 5.70%, 02/10/2055<sup>(c)</sup> <br>|  | 2626000 | &nbsp;&nbsp; 2588767 |
| 5.80%, 02/03/2056 |  | 4012000 | &nbsp;&nbsp; 4021378 |
|  |  |  | &nbsp;&nbsp; 26896127 |
| **Leisure Facilities–0.03%** | **Leisure Facilities–0.03%** | **Leisure Facilities–0.03%** | **Leisure Facilities–0.03%** |
| Six Flags Entertainment Corp./Six <br> Flags Theme Parks, <br> Inc./Canada's Wonderland Co., <br> 6.63%, 05/01/2032<sup>(b)</sup> <br>|  | 581000 | &nbsp;&nbsp; 591042 |
| Vail Resorts, Inc., 5.63%, <br> 07/15/2030<sup>(b)</sup> <br>|  | 585000 | &nbsp;&nbsp; 595627 |
|  |  |  | &nbsp;&nbsp; 1186669 |
| **Leisure Products–0.01%** | **Leisure Products–0.01%** | **Leisure Products–0.01%** | **Leisure Products–0.01%** |
| Brunswick Corp., 5.85%, <br> 03/18/2029<sup>(c)</sup> <br>|  | 508000 | &nbsp;&nbsp; 528500 |
| **Life & Health Insurance–2.32%** | **Life & Health Insurance–2.32%** | **Life & Health Insurance–2.32%** | **Life & Health Insurance–2.32%** |
| 200 Park Funding Trust, 5.74%, <br> 02/15/2055<sup>(b)(c)</sup> <br>|  | 2578000 | &nbsp;&nbsp; 2555113 |
| American National Global Funding, <br> 5.55%, 01/28/2030<sup>(b)</sup> <br>|  | 767000 | &nbsp;&nbsp; 786774 |
| American National Group, Inc., | American National Group, Inc., |  |  |
| 5.00%, 06/15/2027 |  | 1022000 | &nbsp;&nbsp; 1028470 |
| 6.00%, 07/15/2035<sup>(c)</sup> <br>|  | 4457000 | &nbsp;&nbsp; 4425081 |
| Athene Global Funding, 5.58%, <br> 01/09/2029<sup>(b)</sup> <br>|  | 1321000 | &nbsp;&nbsp; 1351045 |
| Athene Holding Ltd., | Athene Holding Ltd., |  |  |
| 6.25%, 04/01/2054 |  | 1525000 | &nbsp;&nbsp; 1424746 |
| 6.63%, 05/19/2055 |  | 31000 | &nbsp;&nbsp; 30379 |
| Belrose Funding Trust II, 6.79%, <br> 05/15/2055<sup>(b)(c)</sup> <br>|  | 4383000 | &nbsp;&nbsp; 4471472 |
| Constellation Global Funding, <br> 4.85%, 10/22/2030<sup>(b)</sup> <br>|  | 3766000 | &nbsp;&nbsp; 3764095 |
| Corebridge Global Funding, | Corebridge Global Funding, |  |  |
| 5.90%, 09/19/2028<sup>(b)(c)</sup> <br>|  | 718000 | &nbsp;&nbsp; 749736 |
| 5.20%, 01/12/2029<sup>(b)(c)</sup> <br>|  | 1170000 | &nbsp;&nbsp; 1205078 |
| 5.20%, 06/24/2029<sup>(b)(c)</sup> <br>|  | 1162000 | &nbsp;&nbsp; 1194287 |
| Dai-ichi Life Insurance Co. Ltd. <br> (The) (Japan), 6.20%<sup>(b)(e)(h)</sup> <br>|  | 3522000 | &nbsp;&nbsp; 3684505 |
| Delaware Life Global Funding, <br> Series 21-1, 2.66%, <br> 06/29/2026<sup>(b)</sup> <br>|  | 12766000 | &nbsp;&nbsp; 12692371 |
| FWD Group Holdings Ltd. <br> (Hong Kong), 5.25%, <br> 09/22/2030<sup>(b)</sup> <br>|  | 1126000 | &nbsp;&nbsp; 1144039 |
| GA Global Funding Trust, | GA Global Funding Trust, |  |  |
| 5.50%, 01/08/2029<sup>(b)</sup> <br>|  | 1073000 | &nbsp;&nbsp; 1100376 |
| 4.50%, 09/18/2030<sup>(b)</sup> <br>|  | 7071000 | &nbsp;&nbsp; 6963490 |
| High Street Funding Trust III, <br> 5.81%, 02/15/2055<sup>(b)(c)</sup> <br>|  | 1797000 | &nbsp;&nbsp; 1753248 |
| Lincoln Financial Global Funding, | Lincoln Financial Global Funding, |  |  |
| 4.63%, 05/28/2028<sup>(b)(c)</sup> <br>|  | 1757000 | &nbsp;&nbsp; 1767903 |
| 4.63%, 08/18/2030<sup>(b)</sup> <br>|  | 1233000 | &nbsp;&nbsp; 1237910 |
| MAG Mutual Holding Co., 4.75%, <br> 04/30/2041<sup>(b)(j)</sup> <br>|  | 11777000 | &nbsp;&nbsp; 10834840 |
| MassMutual Global Funding II, <br> 4.55%, 05/07/2030<sup>(b)</sup> <br>|  | 3490000 | &nbsp;&nbsp; 3553733 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Life & Health Insurance–(continued)** | **Life & Health Insurance–(continued)** | **Life & Health Insurance–(continued)** | **Life & Health Insurance–(continued)** |
| MetLife, Inc., | MetLife, Inc., |  |  |
| 4.60%, 05/13/2046 |  | $223000 | &nbsp;&nbsp; $198202 |
| 5.00%, 07/15/2052<sup>(c)</sup> <br>|  | 461000 | &nbsp;&nbsp; 416546 |
| 5.25%, 01/15/2054<sup>(c)</sup> <br>|  | 2292000 | &nbsp;&nbsp; 2156161 |
| Series G, 6.35%, <br> 03/15/2055<sup>(e)</sup> <br>|  | 52000 | &nbsp;&nbsp; 54034 |
| New York Life Global Funding, <br> 4.55%, 01/28/2033<sup>(b)</sup> <br>|  | 1456000 | &nbsp;&nbsp; 1468625 |
| Nippon Life Insurance Co. (Japan), | Nippon Life Insurance Co. (Japan), |  |  |
| 5.95%, 04/16/2054<sup>(b)(e)</sup> <br>|  | 3602000 | &nbsp;&nbsp; 3759980 |
| 6.50%, 04/30/2055<sup>(b)(e)</sup> <br>|  | 2839000 | &nbsp;&nbsp; 3054730 |
| Pricoa Global Funding I, 4.65%, <br> 08/27/2031<sup>(b)</sup> <br>|  | 1331000 | &nbsp;&nbsp; 1355755 |
| Principal Financial Group, Inc., <br> 5.50%, 03/15/2053<br>|  | 32000 | &nbsp;&nbsp; 30967 |
| Protective Life Corp., | Protective Life Corp., |  |  |
| 4.70%, 01/15/2031<sup>(b)</sup> <br>|  | 2442000 | &nbsp;&nbsp; 2467032 |
| 5.35%, 12/15/2035<sup>(b)</sup> <br>|  | 3925000 | &nbsp;&nbsp; 3989005 |
| Prudential Financial, Inc., 5.20%, <br> 03/14/2035<br>|  | 4085000 | &nbsp;&nbsp; 4187330 |
| Wynnton Funding Trust, 5.25%, <br> 08/15/2035<sup>(b)</sup> <br>|  | 4841000 | &nbsp;&nbsp; 4901987 |
|  |  |  | &nbsp;&nbsp; 95759045 |
| **Life Sciences Tools & Services–0.16%** | **Life Sciences Tools & Services–0.16%** | **Life Sciences Tools & Services–0.16%** | **Life Sciences Tools & Services–0.16%** |
| Thermo Fisher Scientific, Inc., | Thermo Fisher Scientific, Inc., |  |  |
| 4.22%, 02/12/2031 |  | 1782000 | &nbsp;&nbsp; 1797017 |
| 4.55%, 06/15/2033 |  | 1956000 | &nbsp;&nbsp; 1978816 |
| 4.90%, 02/12/2036<sup>(c)</sup> <br>|  | 2936000 | &nbsp;&nbsp; 2988052 |
|  |  |  | &nbsp;&nbsp; 6763885 |
| **Managed Health Care–0.22%** | **Managed Health Care–0.22%** | **Managed Health Care–0.22%** | **Managed Health Care–0.22%** |
| Kaiser Foundation Hospitals, <br> Series 2021, 2.81%, <br> 06/01/2041<br>|  | 26000 | &nbsp;&nbsp; 19822 |
| Molina Healthcare, Inc., 6.25%, <br> 01/15/2033<sup>(b)</sup> <br>|  | 178000 | &nbsp;&nbsp; 175237 |
| UnitedHealth Group, Inc., | UnitedHealth Group, Inc., |  |  |
| 4.25%, 01/15/2029 |  | 385000 | &nbsp;&nbsp; 389245 |
| 5.30%, 02/15/2030 |  | 1296000 | &nbsp;&nbsp; 1356959 |
| 5.35%, 02/15/2033 |  | 1930000 | &nbsp;&nbsp; 2026881 |
| 4.50%, 04/15/2033 |  | 300000 | &nbsp;&nbsp; 299718 |
| 4.25%, 06/15/2048 |  | 198000 | &nbsp;&nbsp; 163661 |
| 5.05%, 04/15/2053 |  | 779000 | &nbsp;&nbsp; 708664 |
| 5.63%, 07/15/2054<sup>(c)</sup> <br>|  | 1673000 | &nbsp;&nbsp; 1651736 |
| 5.20%, 04/15/2063 |  | 1200000 | &nbsp;&nbsp; 1088464 |
| 5.75%, 07/15/2064 |  | 1398000 | &nbsp;&nbsp; 1378214 |
|  |  |  | &nbsp;&nbsp; 9258601 |
| **Marine Transportation–0.08%** | **Marine Transportation–0.08%** | **Marine Transportation–0.08%** | **Marine Transportation–0.08%** |
| A.P. Moller - Maersk A/S, 5.88%, <br> 09/14/2033<sup>(b)</sup> <br>|  | 1073000 | &nbsp;&nbsp; 1155938 |
| Danaos Corp. (Greece), 6.88%, <br> 10/15/2032<sup>(b)</sup> <br>|  | 586000 | &nbsp;&nbsp; 604834 |
| NCL Corp. Ltd., | NCL Corp. Ltd., |  |  |
| 5.88%, 01/15/2031<sup>(b)</sup> <br>|  | 38000 | &nbsp;&nbsp; 38418 |
| 6.75%, 02/01/2032<sup>(b)</sup> <br>|  | 45000 | &nbsp;&nbsp; 46374 |
| 6.25%, 09/15/2033<sup>(b)</sup> <br>|  | 36000 | &nbsp;&nbsp; 36359 |
| Stena International S.A. (Sweden), <br> 7.63%, 02/15/2031<sup>(b)</sup> <br>|  | 125000 | &nbsp;&nbsp; 130327 |

---

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

**18**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Marine Transportation–(continued)** | **Marine Transportation–(continued)** | **Marine Transportation–(continued)** | **Marine Transportation–(continued)** |
| Viking Cruises Ltd., 5.88%, <br> 10/15/2033<sup>(b)</sup> <br>|  | $1237000 | &nbsp;&nbsp; $1262662 |
|  |  |  | &nbsp;&nbsp; 3274912 |
| **Metal, Glass & Plastic Containers–0.17%** | **Metal, Glass & Plastic Containers–0.17%** | **Metal, Glass & Plastic Containers–0.17%** | **Metal, Glass & Plastic Containers–0.17%** |
| Smurfit Kappa Treasury Unlimited Co. <br> (Ireland), | Smurfit Kappa Treasury Unlimited Co. <br> (Ireland), |  |  |
| 5.20%, 01/15/2030 |  | 1761000 | &nbsp;&nbsp; 1825682 |
| 5.44%, 04/03/2034 |  | 3073000 | &nbsp;&nbsp; 3206021 |
| 5.78%, 04/03/2054<sup>(c)</sup> <br>|  | 2132000 | &nbsp;&nbsp; 2160212 |
|  |  |  | &nbsp;&nbsp; 7191915 |
| **Movies & Entertainment–0.03%** | **Movies & Entertainment–0.03%** | **Movies & Entertainment–0.03%** | **Movies & Entertainment–0.03%** |
| Netflix, Inc., 5.40%, <br> 08/15/2054<sup>(c)</sup> <br>|  | 421000 | &nbsp;&nbsp; 419631 |
| Starz Capital Holdings 1, Inc., <br> 6.00%, 04/15/2030<sup>(b)</sup> <br>|  | 609000 | &nbsp;&nbsp; 567131 |
| Walt Disney Co. (The), | Walt Disney Co. (The), |  |  |
| 3.50%, 05/13/2040 |  | 59000 | &nbsp;&nbsp; 50051 |
| 3.80%, 05/13/2060 |  | 126000 | &nbsp;&nbsp; 93439 |
|  |  |  | &nbsp;&nbsp; 1130252 |
| **Multi-Family Residential REITs–0.16%** | **Multi-Family Residential REITs–0.16%** | **Multi-Family Residential REITs–0.16%** | **Multi-Family Residential REITs–0.16%** |
| AvalonBay Communities, Inc., | AvalonBay Communities, Inc., |  |  |
| 5.00%, 02/15/2033 |  | 417000 | &nbsp;&nbsp; 432237 |
| 5.30%, 12/07/2033<sup>(c)</sup> <br>|  | 1432000 | &nbsp;&nbsp; 1509119 |
| ERP Operating L.P., 4.95%, <br> 06/15/2032<br>|  | 1120000 | &nbsp;&nbsp; 1157030 |
| Essex Portfolio L.P., 5.50%, <br> 04/01/2034<br>|  | 816000 | &nbsp;&nbsp; 851418 |
| Mid-America Apartments L.P., <br> 5.30%, 02/15/2032<br>|  | 2026000 | &nbsp;&nbsp; 2128534 |
| UDR, Inc., 5.13%, 09/01/2034 |  | 657000 | &nbsp;&nbsp; 671338 |
|  |  |  | &nbsp;&nbsp; 6749676 |
| **Multi-line Insurance–0.10%** | **Multi-line Insurance–0.10%** | **Multi-line Insurance–0.10%** | **Multi-line Insurance–0.10%** |
| American International Group, Inc., | American International Group, Inc., |  |  |
| 4.85%, 05/07/2030 |  | 678000 | &nbsp;&nbsp; 696071 |
| 4.38%, 06/30/2050 |  | 225000 | &nbsp;&nbsp; 188417 |
| Metropolitan Life Global Funding I, <br> 5.15%, 03/28/2033<sup>(b)</sup> <br>|  | 2937000 | &nbsp;&nbsp; 3059245 |
|  |  |  | &nbsp;&nbsp; 3943733 |
| **Multi-Utilities–1.25%** | **Multi-Utilities–1.25%** | **Multi-Utilities–1.25%** | **Multi-Utilities–1.25%** |
| Ameren Illinois Co., 4.95%, <br> 06/01/2033<br>|  | 833000 | &nbsp;&nbsp; 860163 |
| Black Hills Corp., 6.15%, <br> 05/15/2034<br>|  | 3767000 | &nbsp;&nbsp; 4097247 |
| CenterPoint Energy, Inc., | CenterPoint Energy, Inc., |  |  |
| Conv., 3.00%, 08/01/2028<sup>(b)</sup> <br>|  | 6144000 | &nbsp;&nbsp; 6509261 |
| 5.95%, 04/01/2056<sup>(c)(e)</sup> <br>|  | 6158000 | &nbsp;&nbsp; 6234809 |
| Dominion Energy, Inc., | Dominion Energy, Inc., |  |  |
| 5.38%, 11/15/2032 |  | 1675000 | &nbsp;&nbsp; 1755085 |
| 6.63%, 05/15/2055<sup>(e)</sup> <br>|  | 37000 | &nbsp;&nbsp; 38425 |
| 6.00%, 02/15/2056<sup>(e)</sup> <br>|  | 5478000 | &nbsp;&nbsp; 5561994 |
| 6.20%, 02/15/2056<sup>(c)(e)</sup> <br>|  | 5132000 | &nbsp;&nbsp; 5226721 |
| DTE Electric Co., | DTE Electric Co., |  |  |
| 5.20%, 03/01/2034<sup>(c)</sup> <br>|  | 881000 | &nbsp;&nbsp; 921008 |
| 5.85%, 05/15/2055<sup>(c)</sup> <br>|  | 1025000 | &nbsp;&nbsp; 1065751 |
| DTE Energy Co., | DTE Energy Co., |  |  |
| 4.95%, 07/01/2027 |  | 518000 | &nbsp;&nbsp; 524366 |
| 5.85%, 06/01/2034<sup>(c)</sup> <br>|  | 1588000 | &nbsp;&nbsp; 1708598 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Multi-Utilities–(continued)** | **Multi-Utilities–(continued)** | **Multi-Utilities–(continued)** | **Multi-Utilities–(continued)** |
| ENGIE S.A. (France), | ENGIE S.A. (France), |  |  |
| 5.25%, 04/10/2029<sup>(b)</sup> <br>|  | $1360000 | &nbsp;&nbsp; $1412354 |
| 5.63%, 04/10/2034<sup>(b)</sup> <br>|  | 1947000 | &nbsp;&nbsp; 2053362 |
| 5.88%, 04/10/2054<sup>(b)(c)</sup> <br>|  | 1932000 | &nbsp;&nbsp; 1981519 |
| NiSource, Inc., | NiSource, Inc., |  |  |
| 5.25%, 03/30/2028 |  | 366000 | &nbsp;&nbsp; 375360 |
| 5.35%, 04/01/2034 |  | 1329000 | &nbsp;&nbsp; 1387849 |
| 5.85%, 04/01/2055<sup>(c)</sup> <br>|  | 2104000 | &nbsp;&nbsp; 2123576 |
| Public Service Enterprise Group, <br> Inc., 6.13%, 10/15/2033<br>|  | 18000 | &nbsp;&nbsp; 19548 |
| Sempra, | Sempra, |  |  |
| 6.88%, 10/01/2054<sup>(c)(e)</sup> <br>|  | 3639000 | &nbsp;&nbsp; 3750834 |
| 6.38%, 04/01/2056<sup>(e)</sup> <br>|  | 3570000 | &nbsp;&nbsp; 3656383 |
| WEC Energy Group, Inc., | WEC Energy Group, Inc., |  |  |
| 5.15%, 10/01/2027 |  | 513000 | &nbsp;&nbsp; 522220 |
| 4.75%, 01/15/2028 |  | 88000 | &nbsp;&nbsp; 89370 |
|  |  |  | &nbsp;&nbsp; 51875803 |
| **Office REITs–0.35%** | **Office REITs–0.35%** | **Office REITs–0.35%** | **Office REITs–0.35%** |
| Boston Properties L.P., Conv., <br> 2.00%, 10/01/2030<sup>(b)</sup> <br>|  | 3702000 | &nbsp;&nbsp; 3498390 |
| COPT Defense Properties L.P., <br> 4.50%, 10/15/2030<br>|  | 749000 | &nbsp;&nbsp; 752484 |
| Cousins Properties L.P., | Cousins Properties L.P., |  |  |
| 5.38%, 02/15/2032 |  | 562000 | &nbsp;&nbsp; 580400 |
| 4.88%, 03/01/2033 |  | 3891000 | &nbsp;&nbsp; 3855082 |
| 5.88%, 10/01/2034 |  | 1325000 | &nbsp;&nbsp; 1388618 |
| Piedmont Operating Partnership L.P., | Piedmont Operating Partnership L.P., |  |  |
| 6.88%, 07/15/2029 |  | 1199000 | &nbsp;&nbsp; 1274929 |
| 5.63%, 01/15/2033 |  | 3186000 | &nbsp;&nbsp; 3203168 |
|  |  |  | &nbsp;&nbsp; 14553071 |
| **Oil & Gas Drilling–0.03%** | **Oil & Gas Drilling–0.03%** | **Oil & Gas Drilling–0.03%** | **Oil & Gas Drilling–0.03%** |
| Summit Midstream Holdings LLC, <br> 8.63%, 10/31/2029<sup>(b)</sup> <br>|  | 559000 | &nbsp;&nbsp; 585438 |
| Transocean International Ltd., <br> 7.88%, 10/15/2032<sup>(b)</sup> <br>|  | 597000 | &nbsp;&nbsp; 641312 |
|  |  |  | &nbsp;&nbsp; 1226750 |
| **Oil & Gas Equipment & Services–0.12%** | **Oil & Gas Equipment & Services–0.12%** | **Oil & Gas Equipment & Services–0.12%** | **Oil & Gas Equipment & Services–0.12%** |
| Bristow Group, Inc., 6.75%, <br> 02/01/2033<sup>(b)</sup> <br>|  | 4236000 | &nbsp;&nbsp; 4300730 |
| Tidewater, Inc., 9.13%, <br> 07/15/2030<sup>(b)</sup> <br>|  | 545000 | &nbsp;&nbsp; 589983 |
|  |  |  | &nbsp;&nbsp; 4890713 |
| **Oil & Gas Exploration & Production–0.75%** | **Oil & Gas Exploration & Production–0.75%** | **Oil & Gas Exploration & Production–0.75%** | **Oil & Gas Exploration & Production–0.75%** |
| Aethon United BR L.P./Aethon <br> United Finance Corp., 7.50%, <br> 10/01/2029<sup>(b)</sup> <br>|  | 35000 | &nbsp;&nbsp; 36836 |
| Antero Resources Corp., 5.40%, <br> 02/01/2036<br>|  | 6897000 | &nbsp;&nbsp; 6908344 |
| Caturus Energy LLC, 8.50%, <br> 02/15/2030<sup>(b)</sup> <br>|  | 836000 | &nbsp;&nbsp; 874094 |
| Comstock Resources, Inc., <br> 6.75%, 03/01/2029<sup>(b)</sup> <br>|  | 562000 | &nbsp;&nbsp; 560249 |
| ConocoPhillips Co., 5.70%, <br> 09/15/2063<br>|  | 717000 | &nbsp;&nbsp; 713969 |
| Devon Energy Corp., 5.00%, <br> 06/15/2045<br>|  | 3577000 | &nbsp;&nbsp; 3268476 |

---

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

**19**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Oil & Gas Exploration & Production–(continued)** | **Oil & Gas Exploration & Production–(continued)** | **Oil & Gas Exploration & Production–(continued)** | **Oil & Gas Exploration & Production–(continued)** |
| Diamondback Energy, Inc., | Diamondback Energy, Inc., |  |  |
| 5.15%, 01/30/2030 |  | $1561000 | &nbsp;&nbsp; $1620890 |
| 6.25%, 03/15/2053 |  | 2311000 | &nbsp;&nbsp; 2408098 |
| 5.90%, 04/18/2064 |  | 820000 | &nbsp;&nbsp; 805353 |
| EOG Resources, Inc., | EOG Resources, Inc., |  |  |
| 4.40%, 07/15/2028 |  | 703000 | &nbsp;&nbsp; 712459 |
| 5.35%, 01/15/2036 |  | 1857000 | &nbsp;&nbsp; 1930607 |
| 5.95%, 07/15/2055 |  | 2467000 | &nbsp;&nbsp; 2580486 |
| Expand Energy Corp., 5.38%, <br> 03/15/2030<br>|  | 415000 | &nbsp;&nbsp; 421370 |
| Hilcorp Energy I L.P./Hilcorp Finance <br> Co., | Hilcorp Energy I L.P./Hilcorp Finance <br> Co., |  |  |
| 8.38%, 11/01/2033<sup>(b)</sup> <br>|  | 566000 | &nbsp;&nbsp; 597614 |
| 6.88%, 05/15/2034<sup>(b)</sup> <br>|  | 183000 | &nbsp;&nbsp; 179277 |
| 7.25%, 02/15/2035<sup>(b)(c)</sup> <br>|  | 274000 | &nbsp;&nbsp; 271555 |
| Transocean Titan Financing Ltd., <br> 8.38%, 02/01/2028<sup>(b)</sup> <br>|  | 140276 | &nbsp;&nbsp; 143858 |
| Uzbekneftegaz JSC (Uzbekistan), <br> 4.75%, 11/16/2028<sup>(b)</sup> <br>|  | 3661000 | &nbsp;&nbsp; 3582308 |
| Var Energi ASA (Norway), 5.88%, <br> 05/22/2030<sup>(b)</sup> <br>|  | 2815000 | &nbsp;&nbsp; 2958437 |
| Woodside Finance Ltd. (Australia), <br> 5.70%, 05/19/2032<sup>(c)</sup> <br>|  | 438000 | &nbsp;&nbsp; 464300 |
|  |  |  | &nbsp;&nbsp; 31038580 |
| **Oil & Gas Refining & Marketing–0.19%** | **Oil & Gas Refining & Marketing–0.19%** | **Oil & Gas Refining & Marketing–0.19%** | **Oil & Gas Refining & Marketing–0.19%** |
| Empresa Nacional del Petroleo <br> (Chile), 5.95%, <br> 07/30/2034<sup>(b)(c)</sup> <br>|  | 1880000 | &nbsp;&nbsp; 1978860 |
| Sunoco L.P., | Sunoco L.P., |  |  |
| 5.63%, 03/15/2031<sup>(b)</sup> <br>|  | 303000 | &nbsp;&nbsp; 305747 |
| 6.25%, 07/01/2033<sup>(b)</sup> <br>|  | 444000 | &nbsp;&nbsp; 457527 |
| 5.88%, 03/15/2034<sup>(b)</sup> <br>|  | 2366000 | &nbsp;&nbsp; 2376633 |
| 7.88%<sup>(b)(e)(h)</sup> <br>|  | 2443000 | &nbsp;&nbsp; 2527149 |
|  |  |  | &nbsp;&nbsp; 7645916 |
| **Oil & Gas Storage & Transportation–3.79%** | **Oil & Gas Storage & Transportation–3.79%** | **Oil & Gas Storage & Transportation–3.79%** | **Oil & Gas Storage & Transportation–3.79%** |
| Antero Midstream Partners L.P./Antero <br> Midstream Finance Corp., | Antero Midstream Partners L.P./Antero <br> Midstream Finance Corp., |  |  |
| 6.63%, 02/01/2032<sup>(b)</sup> <br>|  | 604000 | &nbsp;&nbsp; 628217 |
| 5.75%, 10/15/2033<sup>(b)</sup> <br>|  | 4591000 | &nbsp;&nbsp; 4662716 |
| 5.75%, 07/01/2034<sup>(b)</sup> <br>|  | 614000 | &nbsp;&nbsp; 623887 |
| Cheniere Energy Partners L.P., <br> 5.95%, 06/30/2033<br>|  | 947000 | &nbsp;&nbsp; 1016116 |
| Columbia Pipelines Holding Co. <br> LLC, 6.06%, 08/15/2026<sup>(b)</sup> <br>|  | 284000 | &nbsp;&nbsp; 285927 |
| Columbia Pipelines Operating Co. <br> LLC, 5.70%, 10/01/2054<sup>(b)</sup> <br>|  | 2228000 | &nbsp;&nbsp; 2195211 |
| Eastern Energy Gas Holdings LLC, <br> 5.65%, 10/15/2054<br>|  | 1409000 | &nbsp;&nbsp; 1392862 |
| El Paso Natural Gas Co. LLC, <br> 8.38%, 06/15/2032<br>|  | 389000 | &nbsp;&nbsp; 468350 |
| Enbridge, Inc. (Canada), | Enbridge, Inc. (Canada), |  |  |
| 5.70%, 03/08/2033 |  | 1122000 | &nbsp;&nbsp; 1192831 |
| 7.63%, 01/15/2083<sup>(c)(e)</sup> <br>|  | 1304000 | &nbsp;&nbsp; 1433156 |
| Series NC5, 8.25%, <br> 01/15/2084<sup>(c)(e)</sup> <br>|  | 1658000 | &nbsp;&nbsp; 1787170 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Oil & Gas Storage & Transportation–(continued)** | **Oil & Gas Storage & Transportation–(continued)** | **Oil & Gas Storage & Transportation–(continued)** | **Oil & Gas Storage & Transportation–(continued)** |
| Energy Transfer L.P., | Energy Transfer L.P., |  |  |
| 5.55%, 02/15/2028 |  | $169000 | &nbsp;&nbsp; $174018 |
| 6.10%, 12/01/2028 |  | 482000 | &nbsp;&nbsp; 507486 |
| 6.40%, 12/01/2030 |  | 287000 | &nbsp;&nbsp; 312646 |
| 4.55%, 01/15/2031 |  | 8781000 | &nbsp;&nbsp; 8867041 |
| 7.38%, 02/01/2031<sup>(b)</sup> <br>|  | 458000 | &nbsp;&nbsp; 475414 |
| 5.55%, 05/15/2034 |  | 1583000 | &nbsp;&nbsp; 1647540 |
| 4.90%, 03/15/2035 |  | 2666000 | &nbsp;&nbsp; 2661895 |
| 5.35%, 01/15/2036<sup>(c)</sup> <br>|  | 4117000 | &nbsp;&nbsp; 4187303 |
| 5.00%, 05/15/2050 |  | 2132000 | &nbsp;&nbsp; 1823932 |
| 5.95%, 05/15/2054 |  | 2753000 | &nbsp;&nbsp; 2659615 |
| 8.00%, 05/15/2054<sup>(c)(e)</sup> <br>|  | 814000 | &nbsp;&nbsp; 873840 |
| 6.05%, 09/01/2054 |  | 2832000 | &nbsp;&nbsp; 2771097 |
| 7.13%, 10/01/2054<sup>(e)</sup> <br>|  | 7056000 | &nbsp;&nbsp; 7310715 |
| 6.30%, 01/15/2056 |  | 2333000 | &nbsp;&nbsp; 2362474 |
| 6.50%, 02/15/2056<sup>(e)</sup> <br>|  | 149000 | &nbsp;&nbsp; 150649 |
| 6.75%, 02/15/2056<sup>(c)(e)</sup> <br>|  | 5172000 | &nbsp;&nbsp; 5288944 |
| Enterprise Products Operating LLC, | Enterprise Products Operating LLC, |  |  |
| 4.60%, 01/15/2031 |  | 2976000 | &nbsp;&nbsp; 3043342 |
| 5.20%, 01/15/2036 |  | 2757000 | &nbsp;&nbsp; 2843433 |
| 4.25%, 02/15/2048 |  | 391000 | &nbsp;&nbsp; 326199 |
| 4.20%, 01/31/2050 |  | 615000 | &nbsp;&nbsp; 505653 |
| Series D, <br>6.88%, 03/01/2033<br>|  | 634000 | &nbsp;&nbsp; 728401 |
| 6.90% (3 mo. Term SOFR + <br> 3.25%), 08/16/2077<sup>(c)(f)</sup> <br>|  | 23000 | &nbsp;&nbsp; 22991 |
| Excelerate Energy L.P., 8.00%, <br> 05/15/2030<sup>(b)</sup> <br>|  | 552000 | &nbsp;&nbsp; 585397 |
| Florida Gas Transmission Co. LLC, <br> 5.75%, 07/15/2035<sup>(b)</sup> <br>|  | 3567000 | &nbsp;&nbsp; 3763822 |
| Genesis Energy L.P./Genesis Energy <br> Finance Corp., | Genesis Energy L.P./Genesis Energy <br> Finance Corp., |  |  |
| 7.88%, 05/15/2032<sup>(c)</sup> <br>|  | 430000 | &nbsp;&nbsp; 450397 |
| 8.00%, 05/15/2033 |  | 392000 | &nbsp;&nbsp; 414703 |
| 6.75%, 03/15/2034 |  | 329000 | &nbsp;&nbsp; 332978 |
| Global Partners L.P./GLP Finance <br> Corp., 7.13%, 07/01/2033<sup>(b)</sup> <br>|  | 595000 | &nbsp;&nbsp; 616760 |
| GreenSaif Pipelines Bidco S.a.r.l. (Saudi <br> Arabia), | GreenSaif Pipelines Bidco S.a.r.l. (Saudi <br> Arabia), |  |  |
| 5.85%, 02/23/2036<sup>(b)</sup> <br>|  | 4980000 | &nbsp;&nbsp; 5235056 |
| 6.13%, 02/23/2038<sup>(b)</sup> <br>|  | 1166000 | &nbsp;&nbsp; 1242242 |
| 6.51%, 02/23/2042<sup>(b)</sup> <br>|  | 2700000 | &nbsp;&nbsp; 2962838 |
| 6.10%, 08/23/2042<sup>(b)</sup> <br>|  | 3682000 | &nbsp;&nbsp; 3863567 |
| Gulfstream Natural Gas System <br> L.L.C., 5.60%, <br> 07/23/2035<sup>(b)</sup> <br>|  | 3255000 | &nbsp;&nbsp; 3392087 |
| Kinder Morgan, Inc., | Kinder Morgan, Inc., |  |  |
| 5.15%, 06/01/2030 |  | 1580000 | &nbsp;&nbsp; 1644660 |
| 7.80%, 08/01/2031<sup>(c)</sup> <br>|  | 3351000 | &nbsp;&nbsp; 3927070 |
| 7.75%, 01/15/2032 |  | 2758000 | &nbsp;&nbsp; 3243452 |
| 5.20%, 06/01/2033 |  | 1323000 | &nbsp;&nbsp; 1380975 |
| 5.85%, 06/01/2035<sup>(c)</sup> <br>|  | 1910000 | &nbsp;&nbsp; 2054111 |
| MPLX L.P., | MPLX L.P., |  |  |
| 4.80%, 02/15/2029 |  | 313000 | &nbsp;&nbsp; 319131 |
| 4.80%, 02/15/2031 |  | 3300000 | &nbsp;&nbsp; 3369730 |
| 5.40%, 09/15/2035 |  | 4450000 | &nbsp;&nbsp; 4546371 |
| 4.70%, 04/15/2048 |  | 748000 | &nbsp;&nbsp; 631595 |
| 5.50%, 02/15/2049 |  | 1239000 | &nbsp;&nbsp; 1161269 |
| 4.95%, 03/14/2052 |  | 1769000 | &nbsp;&nbsp; 1521089 |
| 5.65%, 03/01/2053 |  | 346000 | &nbsp;&nbsp; 327346 |
| 6.20%, 09/15/2055 |  | 47000 | &nbsp;&nbsp; 47786 |

---

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

**20**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Oil & Gas Storage & Transportation–(continued)** | **Oil & Gas Storage & Transportation–(continued)** | **Oil & Gas Storage & Transportation–(continued)** | **Oil & Gas Storage & Transportation–(continued)** |
| NGL Energy Operating LLC/NGL <br> Energy Finance Corp., 8.38%, <br> 02/15/2032<sup>(b)</sup> <br>|  | $65000 | &nbsp;&nbsp; $68223 |
| NGPL PipeCo LLC, 7.77%, <br> 12/15/2037<sup>(b)(c)</sup> <br>|  | 3542000 | &nbsp;&nbsp; 4242503 |
| Northern Natural Gas Co., | Northern Natural Gas Co., |  |  |
| 3.40%, 10/16/2051<sup>(b)</sup> <br>|  | 341000 | &nbsp;&nbsp; 237469 |
| 5.63%, 02/01/2054<sup>(b)</sup> <br>|  | 622000 | &nbsp;&nbsp; 615722 |
| Northriver Midstream Finance L.P. <br> (Canada), 6.75%, <br> 07/15/2032<sup>(b)</sup> <br>|  | 548000 | &nbsp;&nbsp; 563851 |
| ONEOK Partners L.P., 6.85%, <br> 10/15/2037<br>|  | 1149000 | &nbsp;&nbsp; 1294884 |
| ONEOK, Inc., 6.63%, <br> 09/01/2053<br>|  | 2453000 | &nbsp;&nbsp; 2602364 |
| Plains All American Pipeline L.P., <br> Series B, 8.02% (3 mo. Term <br> SOFR + 4.37%)<sup>(f)(h)</sup> <br>|  | 168000 | &nbsp;&nbsp; 167981 |
| Prairie Acquiror L.P., 9.00%, <br> 08/01/2029<sup>(b)</sup> <br>|  | 548000 | &nbsp;&nbsp; 574151 |
| South Bow Canadian <br> Infrastructure Holdings Ltd. <br> (Canada), 7.63%, <br> 03/01/2055<sup>(e)</sup> <br>|  | 1613000 | &nbsp;&nbsp; 1681796 |
| South Bow USA Infrastructure <br> Holdings LLC (Canada), | South Bow USA Infrastructure <br> Holdings LLC (Canada), |  |  |
| 5.03%, 10/01/2029 |  | 338000 | &nbsp;&nbsp; 345682 |
| 5.58%, 10/01/2034 |  | 1312000 | &nbsp;&nbsp; 1336906 |
| 6.18%, 10/01/2054 |  | 1680000 | &nbsp;&nbsp; 1647340 |
| Southern Co. Gas Capital Corp., | Southern Co. Gas Capital Corp., |  |  |
| 5.75%, 09/15/2033 |  | 1018000 | &nbsp;&nbsp; 1089278 |
| Series B, 5.10%, <br> 09/15/2035<br>|  | 3193000 | &nbsp;&nbsp; 3253367 |
| Targa Resources Corp., | Targa Resources Corp., |  |  |
| 5.20%, 07/01/2027 |  | 11000 | &nbsp;&nbsp; 11179 |
| 5.50%, 02/15/2035 |  | 14000 | &nbsp;&nbsp; 14493 |
| 6.25%, 07/01/2052 |  | 16000 | &nbsp;&nbsp; 16409 |
| Venture Global LNG, Inc., | Venture Global LNG, Inc., |  |  |
| 9.50%, 02/01/2029<sup>(b)(c)</sup> <br>|  | 49000 | &nbsp;&nbsp; 52583 |
| 9.88%, 02/01/2032<sup>(b)(c)</sup> <br>|  | 858000 | &nbsp;&nbsp; 909629 |
| 9.00%<sup>(b)(c)(e)(h)</sup> <br>|  | 690000 | &nbsp;&nbsp; 603965 |
| Venture Global Plaquemines LNG LLC, | Venture Global Plaquemines LNG LLC, |  |  |
| 6.13%, 12/15/2030<sup>(b)</sup> <br>|  | 325000 | &nbsp;&nbsp; 337770 |
| 7.50%, 05/01/2033<sup>(b)</sup> <br>|  | 24000 | &nbsp;&nbsp; 26635 |
| 6.50%, 01/15/2034<sup>(b)</sup> <br>|  | 60000 | &nbsp;&nbsp; 63177 |
| 7.75%, 05/01/2035<sup>(b)</sup> <br>|  | 43000 | &nbsp;&nbsp; 48795 |
| 6.75%, 01/15/2036<sup>(b)</sup> <br>|  | 774000 | &nbsp;&nbsp; 824934 |
| Western Midstream Operating L.P., | Western Midstream Operating L.P., |  |  |
| 4.80%, 03/01/2031 |  | 3428000 | &nbsp;&nbsp; 3458209 |
| 6.15%, 04/01/2033 |  | 987000 | &nbsp;&nbsp; 1056527 |
| 5.45%, 11/15/2034 |  | 2115000 | &nbsp;&nbsp; 2152455 |
| 5.50%, 12/15/2035 |  | 3741000 | &nbsp;&nbsp; 3774696 |
| 5.30%, 03/01/2048 |  | 4738000 | &nbsp;&nbsp; 4189383 |
| Williams Cos., Inc. (The), | Williams Cos., Inc. (The), |  |  |
| 5.30%, 08/15/2028 |  | 553000 | &nbsp;&nbsp; 571050 |
| 4.80%, 11/15/2029 |  | 721000 | &nbsp;&nbsp; 739551 |
| 4.65%, 08/15/2032 |  | 509000 | &nbsp;&nbsp; 515372 |
| 5.65%, 03/15/2033 |  | 1281000 | &nbsp;&nbsp; 1355894 |
| 5.80%, 11/15/2054 |  | 1930000 | &nbsp;&nbsp; 1922277 |
| 6.00%, 03/15/2055 |  | 2106000 | &nbsp;&nbsp; 2162148 |
|  |  |  | &nbsp;&nbsp; 156794151 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Other Specialized REITs–0.20%** | **Other Specialized REITs–0.20%** | **Other Specialized REITs–0.20%** | **Other Specialized REITs–0.20%** |
| Iron Mountain, Inc., | Iron Mountain, Inc., |  |  |
| 4.88%, 09/15/2027<sup>(b)</sup> <br>|  | $6700000 | &nbsp;&nbsp; $6701500 |
| 7.00%, 02/15/2029<sup>(b)</sup> <br>|  | 500000 | &nbsp;&nbsp; 513442 |
| 4.50%, 02/15/2031<sup>(b)</sup> <br>|  | 583000 | &nbsp;&nbsp; 562749 |
| 6.25%, 01/15/2033<sup>(b)(c)</sup> <br>|  | 579000 | &nbsp;&nbsp; 592012 |
|  |  |  | &nbsp;&nbsp; 8369703 |
| **Other Specialty Retail–0.07%** | **Other Specialty Retail–0.07%** | **Other Specialty Retail–0.07%** | **Other Specialty Retail–0.07%** |
| Michaels Companies, Inc. (The), | Michaels Companies, Inc. (The), |  |  |
| 8.50%, 03/15/2033<sup>(b)</sup> <br>|  | 510000 | &nbsp;&nbsp; 496533 |
| 11.00%, 03/15/2034<sup>(b)</sup> <br>|  | 102000 | &nbsp;&nbsp; 95426 |
| PetSmart LLC/PetSmart Finance <br> Corp., 7.50%, 09/15/2032<sup>(b)</sup> <br>|  | 600000 | &nbsp;&nbsp; 607578 |
| SGUS LLC, 11.00%, <br> 12/31/2049<sup>(b)(d)</sup> <br>|  | 145690 | &nbsp;&nbsp; 4007 |
| Tractor Supply Co., 5.25%, <br> 05/15/2033<sup>(c)</sup> <br>|  | 510000 | &nbsp;&nbsp; 530184 |
| VSP Optical Group, Inc., 5.45%, <br> 12/01/2035<sup>(b)</sup> <br>|  | 1165000 | &nbsp;&nbsp; 1185770 |
|  |  |  | &nbsp;&nbsp; 2919498 |
| **Packaged Foods & Meats–0.88%** | **Packaged Foods & Meats–0.88%** | **Packaged Foods & Meats–0.88%** | **Packaged Foods & Meats–0.88%** |
| Campbell's Co. (The), | Campbell's Co. (The), |  |  |
| 5.20%, 03/21/2029<sup>(c)</sup> <br>|  | 536000 | &nbsp;&nbsp; 551531 |
| 4.75%, 03/23/2035<sup>(c)</sup> <br>|  | 1391000 | &nbsp;&nbsp; 1351334 |
| 3.13%, 04/24/2050<sup>(c)</sup> <br>|  | 3528000 | &nbsp;&nbsp; 2330673 |
| 5.25%, 10/13/2054<sup>(c)</sup> <br>|  | 1174000 | &nbsp;&nbsp; 1067064 |
| General Mills, Inc., | General Mills, Inc., |  |  |
| 5.50%, 10/17/2028 |  | 765000 | &nbsp;&nbsp; 793728 |
| 3.00%, 02/01/2051<sup>(c)</sup> <br>|  | 3459000 | &nbsp;&nbsp; 2272665 |
| Hormel Foods Corp., 3.05%, <br> 06/03/2051<br>|  | 3459000 | &nbsp;&nbsp; 2318329 |
| JBS N.V./JBS USA Foods Group <br> Holdings, Inc./JBS USA Food Co. <br> Holdings, | JBS N.V./JBS USA Foods Group <br> Holdings, Inc./JBS USA Food Co. <br> Holdings, |  |  |
| 6.25%, 03/01/2056 |  | 8074000 | &nbsp;&nbsp; 8254589 |
| 6.38%, 04/15/2066 |  | 2801000 | &nbsp;&nbsp; 2854527 |
| Mars, Inc., | Mars, Inc., |  |  |
| 4.80%, 03/01/2030<sup>(b)</sup> <br>|  | 1083000 | &nbsp;&nbsp; 1113532 |
| 5.00%, 03/01/2032<sup>(b)</sup> <br>|  | 992000 | &nbsp;&nbsp; 1027836 |
| 5.20%, 03/01/2035<sup>(b)</sup> <br>|  | 3406000 | &nbsp;&nbsp; 3528021 |
| 5.65%, 05/01/2045<sup>(b)</sup> <br>|  | 1132000 | &nbsp;&nbsp; 1159139 |
| 5.70%, 05/01/2055<sup>(b)</sup> <br>|  | 2566000 | &nbsp;&nbsp; 2603903 |
| 5.80%, 05/01/2065<sup>(b)</sup> <br>|  | 1760000 | &nbsp;&nbsp; 1804176 |
| McCormick & Co., Inc., | McCormick & Co., Inc., |  |  |
| 4.15%, 02/15/2029 |  | 1617000 | &nbsp;&nbsp; 1628050 |
| 4.70%, 10/15/2034 |  | 1613000 | &nbsp;&nbsp; 1613284 |
| Post Holdings, Inc., 6.25%, <br> 10/15/2034<sup>(b)</sup> <br>|  | 28000 | &nbsp;&nbsp; 28617 |
|  |  |  | &nbsp;&nbsp; 36300998 |
| **Paper & Plastic Packaging Products & Materials–0.02%** | **Paper & Plastic Packaging Products & Materials–0.02%** | **Paper & Plastic Packaging Products & Materials–0.02%** | **Paper & Plastic Packaging Products & Materials–0.02%** |
| Clydesdale Acquisition Holdings, Inc., | Clydesdale Acquisition Holdings, Inc., |  |  |
| 8.75%, 04/15/2030<sup>(b)(c)</sup> <br>|  | 292000 | &nbsp;&nbsp; 290959 |
| 6.75%, 04/15/2032<sup>(b)</sup> <br>|  | 586000 | &nbsp;&nbsp; 590885 |
|  |  |  | &nbsp;&nbsp; 881844 |
| **Paper Products–0.00%** | **Paper Products–0.00%** | **Paper Products–0.00%** | **Paper Products–0.00%** |
| Magnera Corp., 7.25%, <br> 11/15/2031<sup>(b)</sup> <br>|  | 78000 | &nbsp;&nbsp; 76427 |

---

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

**21**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Passenger Airlines–0.86%** | **Passenger Airlines–0.86%** | **Passenger Airlines–0.86%** | **Passenger Airlines–0.86%** |
| American Airlines Pass-Through Trust, | American Airlines Pass-Through Trust, |  |  |
| Series 2016-3, Class A, <br> 3.00%, 10/15/2028<br>|  | $667763 | &nbsp;&nbsp; $652246 |
| Series 2021-1, Class B, <br> 3.95%, 07/11/2030<br>|  | 771995 | &nbsp;&nbsp; 751322 |
| Series 2021-1, Class A, <br> 2.88%, 07/11/2034<br>|  | 1055202 | &nbsp;&nbsp; 975631 |
| Series B, 5.65%, 11/11/2034 |  | 1564000 | &nbsp;&nbsp; 1605833 |
| 4.90%, 05/11/2038 |  | 3578000 | &nbsp;&nbsp; 3603995 |
| American Airlines, <br> Inc./AAdvantage Loyalty IP <br> Ltd., 5.75%, 04/20/2029<sup>(b)</sup> <br>|  | 1091000 | &nbsp;&nbsp; 1104078 |
| AS Mileage Plan IP Ltd., | AS Mileage Plan IP Ltd., |  |  |
| 5.02%, 10/20/2029<sup>(b)</sup> <br>|  | 723000 | &nbsp;&nbsp; 735437 |
| 5.31%, 10/20/2031<sup>(b)</sup> <br>|  | 1060000 | &nbsp;&nbsp; 1081237 |
| British Airways Pass-Through <br> Trust (United Kingdom), <br> Series 2021-1, Class A, <br> 2.90%, 03/15/2035<sup>(b)</sup> <br>|  | 755530 | &nbsp;&nbsp; 703682 |
| CHC Group LLC, 11.75%, <br> 09/01/2030<sup>(b)</sup> <br>|  | 579000 | &nbsp;&nbsp; 571627 |
| Delta Air Lines, Inc., | Delta Air Lines, Inc., |  |  |
| 4.95%, 07/10/2028 |  | 3463000 | &nbsp;&nbsp; 3521366 |
| 5.25%, 07/10/2030 |  | 1459000 | &nbsp;&nbsp; 1505092 |
| Delta Air Lines, Inc./SkyMiles IP <br> Ltd., 4.75%, 10/20/2028<sup>(b)</sup> <br>|  | 2735885 | &nbsp;&nbsp; 2760492 |
| United Airlines Holdings, Inc., | United Airlines Holdings, Inc., |  |  |
| 4.88%, 03/01/2029 |  | 7148000 | &nbsp;&nbsp; 7217430 |
| 5.38%, 03/01/2031<sup>(c)</sup> <br>|  | 1885000 | &nbsp;&nbsp; 1924226 |
| United Airlines Pass-Through Trust, | United Airlines Pass-Through Trust, |  |  |
| Series 2020-1, Class A, <br> 5.88%, 10/15/2027<br>|  | 482549 | &nbsp;&nbsp; 494474 |
| Series 2018-1, Class AA, <br> 3.50%, 03/01/2030<br>|  | 629307 | &nbsp;&nbsp; 621302 |
| Series 2019-1, Class A, <br> 4.55%, 08/25/2031<br>|  | 760874 | &nbsp;&nbsp; 748324 |
| Series 2019-1, Class AA, <br> 4.15%, 08/25/2031<br>|  | 1090010 | &nbsp;&nbsp; 1086594 |
| Series 24-A, 5.88%, <br> 02/15/2037<br>|  | 1829684 | &nbsp;&nbsp; 1899056 |
| Series AA, 5.45%, <br> 02/15/2037<br>|  | 1731011 | &nbsp;&nbsp; 1816154 |
|  |  |  | &nbsp;&nbsp; 35379598 |
| **Passenger Ground Transportation–0.03%** | **Passenger Ground Transportation–0.03%** | **Passenger Ground Transportation–0.03%** | **Passenger Ground Transportation–0.03%** |
| Uber Technologies, Inc., | Uber Technologies, Inc., |  |  |
| 4.80%, 09/15/2035<sup>(c)</sup> <br>|  | 1060000 | &nbsp;&nbsp; 1055692 |
| 5.35%, 09/15/2054 |  | 78000 | &nbsp;&nbsp; 74426 |
|  |  |  | &nbsp;&nbsp; 1130118 |
| **Personal Care Products–0.01%** | **Personal Care Products–0.01%** | **Personal Care Products–0.01%** | **Personal Care Products–0.01%** |
| Opal Bidco SAS (France), 6.50%, <br> 03/31/2032<sup>(b)</sup> <br>|  | 555000 | &nbsp;&nbsp; 572009 |
| **Pharmaceuticals–1.99%** | **Pharmaceuticals–1.99%** | **Pharmaceuticals–1.99%** | **Pharmaceuticals–1.99%** |
| 1261229 BC Ltd., 10.00%, <br> 04/15/2032<sup>(b)</sup> <br>|  | 600000 | &nbsp;&nbsp; 621005 |
| Amneal Pharmaceuticals LLC, <br> 6.88%, 08/01/2032<sup>(b)</sup> <br>|  | 645000 | &nbsp;&nbsp; 678913 |
| AstraZeneca Finance LLC (United <br> Kingdom), | AstraZeneca Finance LLC (United <br> Kingdom), |  |  |
| 4.90%, 02/26/2031 |  | 30000 | &nbsp;&nbsp; 31215 |
| 5.00%, 02/26/2034 |  | 21000 | &nbsp;&nbsp; 21867 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Pharmaceuticals–(continued)** | **Pharmaceuticals–(continued)** | **Pharmaceuticals–(continued)** | **Pharmaceuticals–(continued)** |
| Bristol-Myers Squibb Co., | Bristol-Myers Squibb Co., |  |  |
| 5.90%, 11/15/2033 |  | $10000 | &nbsp;&nbsp; $10987 |
| 5.55%, 02/22/2054 |  | 188000 | &nbsp;&nbsp; 186647 |
| Eli Lilly and Co., | Eli Lilly and Co., |  |  |
| 5.00%, 02/09/2054<sup>(c)</sup> <br>|  | 1025000 | &nbsp;&nbsp; 963619 |
| 5.05%, 08/14/2054 |  | 2717000 | &nbsp;&nbsp; 2572336 |
| 5.55%, 10/15/2055 |  | 1516000 | &nbsp;&nbsp; 1542363 |
| 5.10%, 02/09/2064 |  | 1733000 | &nbsp;&nbsp; 1616083 |
| 5.20%, 08/14/2064 |  | 683000 | &nbsp;&nbsp; 645815 |
| 5.65%, 10/15/2065 |  | 1488000 | &nbsp;&nbsp; 1507549 |
| EMD Finance LLC (Germany), | EMD Finance LLC (Germany), |  |  |
| 4.13%, 08/15/2028<sup>(b)</sup> <br>|  | 2424000 | &nbsp;&nbsp; 2436351 |
| 4.38%, 10/15/2030<sup>(b)</sup> <br>|  | 13264000 | &nbsp;&nbsp; 13384166 |
| 4.63%, 10/15/2032<sup>(b)</sup> <br>|  | 1665000 | &nbsp;&nbsp; 1686395 |
| Endo Finance Holdings L.P., <br> 8.50%, 04/15/2031<sup>(b)</sup> <br>|  | 511000 | &nbsp;&nbsp; 543412 |
| Merck & Co., Inc., | Merck & Co., Inc., |  |  |
| 4.15%, 03/15/2031 |  | 6913000 | &nbsp;&nbsp; 6961613 |
| 4.45%, 12/04/2032 |  | 1550000 | &nbsp;&nbsp; 1571359 |
| 4.75%, 12/04/2035 |  | 5623000 | &nbsp;&nbsp; 5676362 |
| 5.00%, 05/17/2053<sup>(c)</sup> <br>|  | 810000 | &nbsp;&nbsp; 754326 |
| 5.15%, 05/17/2063 |  | 458000 | &nbsp;&nbsp; 427128 |
| 5.70%, 12/04/2065 |  | 4353000 | &nbsp;&nbsp; 4374680 |
| Novartis Capital Corp., | Novartis Capital Corp., |  |  |
| 4.20%, 09/18/2034 |  | 25000 | &nbsp;&nbsp; 24817 |
| 4.70%, 09/18/2054 |  | 2771000 | &nbsp;&nbsp; 2511991 |
| Pfizer Investment Enterprises Pte. <br> Ltd., 5.34%, 05/19/2063<br>|  | 164000 | &nbsp;&nbsp; 154032 |
| Pfizer, Inc., | Pfizer, Inc., |  |  |
| 4.20%, 11/15/2030<sup>(c)</sup> <br>|  | 4048000 | &nbsp;&nbsp; 4090466 |
| 4.50%, 11/15/2032<sup>(c)</sup> <br>|  | 4543000 | &nbsp;&nbsp; 4620897 |
| 5.60%, 11/15/2055<sup>(c)</sup> <br>|  | 4736000 | &nbsp;&nbsp; 4780481 |
| 5.70%, 11/15/2065 |  | 5136000 | &nbsp;&nbsp; 5108165 |
| Takeda U.S. Financing, Inc., | Takeda U.S. Financing, Inc., |  |  |
| 5.20%, 07/07/2035<sup>(c)</sup> <br>|  | 5627000 | &nbsp;&nbsp; 5789998 |
| 5.90%, 07/07/2055 |  | 4405000 | &nbsp;&nbsp; 4549204 |
| Teva Pharmaceutical Finance <br> Netherlands III B.V. (Israel), <br> 4.10%, 10/01/2046<br>|  | 776000 | &nbsp;&nbsp; 596949 |
| Teva Pharmaceuticals Finance <br> Netherlands B.V. (Israel), <br> 6.00%, 12/01/2032<br>|  | 1917000 | &nbsp;&nbsp; 2035666 |
|  |  |  | &nbsp;&nbsp; 82476857 |
| **Property & Casualty Insurance–0.35%** | **Property & Casualty Insurance–0.35%** | **Property & Casualty Insurance–0.35%** | **Property & Casualty Insurance–0.35%** |
| Arch Capital Finance LLC, 5.03%, <br> 12/15/2046<br>|  | 218000 | &nbsp;&nbsp; 206614 |
| Asurion LLC and Asurion Co-Issuer, Inc., | Asurion LLC and Asurion Co-Issuer, Inc., |  |  |
| 8.00%, 12/31/2032<sup>(b)</sup> <br>|  | 594000 | &nbsp;&nbsp; 624394 |
| 8.38%, 02/01/2034<sup>(b)</sup> <br>|  | 1629000 | &nbsp;&nbsp; 1622136 |
| CNA Financial Corp., 5.20%, <br> 08/15/2035<br>|  | 4847000 | &nbsp;&nbsp; 4879250 |
| Fairfax Financial Holdings Ltd. <br> (Canada), 6.10%, <br> 03/15/2055<br>|  | 3376000 | &nbsp;&nbsp; 3384039 |
| Hanover Insurance Group, Inc. <br> (The), 5.50%, 09/01/2035<br>|  | 1338000 | &nbsp;&nbsp; 1367922 |
| Travelers Cos., Inc. (The), | Travelers Cos., Inc. (The), |  |  |
| 5.05%, 07/24/2035 |  | 652000 | &nbsp;&nbsp; 667756 |
| 5.45%, 05/25/2053 |  | 722000 | &nbsp;&nbsp; 720041 |
| 5.70%, 07/24/2055<sup>(c)</sup> <br>|  | 1092000 | &nbsp;&nbsp; 1123837 |
|  |  |  | &nbsp;&nbsp; 14595989 |

---

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

**22**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Rail Transportation–0.18%** | **Rail Transportation–0.18%** | **Rail Transportation–0.18%** | **Rail Transportation–0.18%** |
| Canadian Pacific Railway Co. <br> (Canada), 5.20%, <br> 03/30/2035<sup>(c)</sup> <br>|  | $4902000 | &nbsp;&nbsp; $5143114 |
| CSX Corp., | CSX Corp., |  |  |
| 6.15%, 05/01/2037 |  | 72000 | &nbsp;&nbsp; 80086 |
| 4.75%, 11/15/2048 |  | 168000 | &nbsp;&nbsp; 152475 |
| Norfolk Southern Corp., | Norfolk Southern Corp., |  |  |
| 5.05%, 08/01/2030 |  | 28000 | &nbsp;&nbsp; 29141 |
| 5.55%, 03/15/2034 |  | 17000 | &nbsp;&nbsp; 18101 |
| 5.35%, 08/01/2054 |  | 38000 | &nbsp;&nbsp; 36751 |
| 5.95%, 03/15/2064 |  | 156000 | &nbsp;&nbsp; 161940 |
| TTX Co., 5.05%, 11/15/2034<sup>(b)</sup> <br>|  | 1719000 | &nbsp;&nbsp; 1785311 |
| Union Pacific Corp., 5.15%, <br> 01/20/2063<br>|  | 39000 | &nbsp;&nbsp; 36367 |
|  |  |  | &nbsp;&nbsp; 7443286 |
| **Real Estate Development–0.17%** | **Real Estate Development–0.17%** | **Real Estate Development–0.17%** | **Real Estate Development–0.17%** |
| Cushman & Wakefield <br> U.S. Borrower LLC, 8.88%, <br> 09/01/2031<sup>(b)</sup> <br>|  | 524000 | &nbsp;&nbsp; 554952 |
| Essential Properties L.P., 5.40%, <br> 12/01/2035<br>|  | 1446000 | &nbsp;&nbsp; 1474440 |
| Greystar Real Estate Partners LLC, <br> 7.75%, 09/01/2030<sup>(b)</sup> <br>|  | 497000 | &nbsp;&nbsp; 520928 |
| Prologis Targeted U.S. Logistics Fund <br> L.P., | Prologis Targeted U.S. Logistics Fund <br> L.P., |  |  |
| 4.25%, 01/15/2031<sup>(b)(c)</sup> <br>|  | 1675000 | &nbsp;&nbsp; 1677936 |
| 4.75%, 01/15/2036<sup>(b)</sup> <br>|  | 2635000 | &nbsp;&nbsp; 2607389 |
|  |  |  | &nbsp;&nbsp; 6835645 |
| **Regional Banks–0.83%** | **Regional Banks–0.83%** | **Regional Banks–0.83%** | **Regional Banks–0.83%** |
| Citizens Financial Group, Inc., | Citizens Financial Group, Inc., |  |  |
| 5.30%, 01/29/2036<sup>(e)</sup> <br>|  | 1294000 | &nbsp;&nbsp; 1312150 |
| 5.64%, 05/21/2037<sup>(e)</sup> <br>|  | 1341000 | &nbsp;&nbsp; 1379596 |
| Huntington Bancshares, Inc., | Huntington Bancshares, Inc., |  |  |
| 4.62%, 01/28/2032<sup>(c)(e)</sup> <br>|  | 9052000 | &nbsp;&nbsp; 9139913 |
| 5.61%, 01/28/2041<sup>(e)</sup> <br>|  | 9351000 | &nbsp;&nbsp; 9399784 |
| Pinnacle Financial Partners, Inc., <br> 6.17%, 11/01/2030<sup>(e)</sup> <br>|  | 600000 | &nbsp;&nbsp; 629333 |
| Regions Financial Corp., 5.72%, <br> 06/06/2030<sup>(e)</sup> <br>|  | 1026000 | &nbsp;&nbsp; 1075118 |
| Truist Financial Corp., | Truist Financial Corp., |  |  |
| 4.60%, 01/27/2032<sup>(e)</sup> <br>|  | 3877000 | &nbsp;&nbsp; 3918871 |
| 5.87%, 06/08/2034<sup>(e)</sup> <br>|  | 36000 | &nbsp;&nbsp; 38526 |
| Zions Bancorp. N.A., 6.82%, <br> 11/19/2035<sup>(e)</sup> <br>|  | 1257000 | &nbsp;&nbsp; 1339194 |
| Zions Bancorporation N.A., | Zions Bancorporation N.A., |  |  |
| 4.70%, 08/18/2028<sup>(e)</sup> <br>|  | 4136000 | &nbsp;&nbsp; 4159926 |
| 4.48%, 02/09/2029<sup>(e)</sup> <br>|  | 1782000 | &nbsp;&nbsp; 1783080 |
|  |  |  | &nbsp;&nbsp; 34175491 |
| **Reinsurance–0.44%** | **Reinsurance–0.44%** | **Reinsurance–0.44%** | **Reinsurance–0.44%** |
| Fortitude Global Funding, 4.63%, <br> 10/06/2028<sup>(b)</sup> <br>|  | 4301000 | &nbsp;&nbsp; 4317036 |
| Fortitude Group Holdings LLC, <br> 6.25%, 04/01/2030<sup>(b)</sup> <br>|  | 712000 | &nbsp;&nbsp; 739929 |
| Global Atlantic (Fin) Co., | Global Atlantic (Fin) Co., |  |  |
| 4.40%, 10/15/2029<sup>(b)</sup> <br>|  | 1511000 | &nbsp;&nbsp; 1488177 |
| 6.75%, 03/15/2054<sup>(b)(c)</sup> <br>|  | 2785000 | &nbsp;&nbsp; 2621777 |
| Reinsurance Group of America, <br> Inc., 6.38%, 09/15/2056<sup>(e)</sup> <br>|  | 1364000 | &nbsp;&nbsp; 1365852 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Reinsurance–(continued)** | **Reinsurance–(continued)** | **Reinsurance–(continued)** | **Reinsurance–(continued)** |
| RGA Global Funding, 5.00%, <br> 08/25/2032<sup>(b)</sup> <br>|  | $7384000 | &nbsp;&nbsp; $7518917 |
|  |  |  | &nbsp;&nbsp; 18051688 |
| **Renewable Electricity–0.12%** | **Renewable Electricity–0.12%** | **Renewable Electricity–0.12%** | **Renewable Electricity–0.12%** |
| Idaho Power Co., 5.20%, <br> 08/15/2034<br>|  | 453000 | &nbsp;&nbsp; 474090 |
| Southern Power Co., | Southern Power Co., |  |  |
| Series A, 4.25%, <br> 10/01/2030<br>|  | 2081000 | &nbsp;&nbsp; 2092351 |
| Series B, 4.90%, 10/01/2035 |  | 2297000 | &nbsp;&nbsp; 2290034 |
|  |  |  | &nbsp;&nbsp; 4856475 |
| **Research & Consulting Services–0.06%** | **Research & Consulting Services–0.06%** | **Research & Consulting Services–0.06%** | **Research & Consulting Services–0.06%** |
| Clarivate Science Holdings Corp., <br> 4.88%, 07/01/2029<sup>(b)(c)</sup> <br>|  | 341000 | &nbsp;&nbsp; 280101 |
| Verisk Analytics, Inc., 4.45%, <br> 03/15/2031<br>|  | 2265000 | &nbsp;&nbsp; 2276724 |
|  |  |  | &nbsp;&nbsp; 2556825 |
| **Restaurants–0.38%** | **Restaurants–0.38%** | **Restaurants–0.38%** | **Restaurants–0.38%** |
| 1011778 BC ULC/New Red Finance, <br> Inc. (Canada), | 1011778 BC ULC/New Red Finance, <br> Inc. (Canada), |  |  |
| 5.63%, 09/15/2029<sup>(b)</sup> <br>|  | 727000 | &nbsp;&nbsp; 740758 |
| 4.00%, 10/15/2030<sup>(b)</sup> <br>|  | 922000 | &nbsp;&nbsp; 885988 |
| Arcos Dorados B.V. (Brazil), <br> 6.38%, 01/29/2032<sup>(b)</sup> <br>|  | 2202000 | &nbsp;&nbsp; 2345967 |
| McDonald's Corp., | McDonald's Corp., |  |  |
| 4.40%, 02/12/2031<sup>(c)</sup> <br>|  | 7979000 | &nbsp;&nbsp; 8112026 |
| 4.95%, 03/03/2035 |  | 36000 | &nbsp;&nbsp; 36917 |
| 5.00%, 02/13/2036 |  | 77000 | &nbsp;&nbsp; 78925 |
| 5.15%, 09/09/2052 |  | 288000 | &nbsp;&nbsp; 271819 |
| 5.45%, 08/14/2053<sup>(c)</sup> <br>|  | 3173000 | &nbsp;&nbsp; 3132080 |
|  |  |  | &nbsp;&nbsp; 15604480 |
| **Retail REITs–0.64%** | **Retail REITs–0.64%** | **Retail REITs–0.64%** | **Retail REITs–0.64%** |
| Agree L.P., 5.63%, 06/15/2034 |  | 866000 | &nbsp;&nbsp; 914347 |
| Brixmor Operating Partnership L.P., | Brixmor Operating Partnership L.P., |  |  |
| 4.85%, 02/15/2033 |  | 1189000 | &nbsp;&nbsp; 1199947 |
| 5.75%, 02/15/2035 |  | 622000 | &nbsp;&nbsp; 659616 |
| Kimco Realty OP LLC, | Kimco Realty OP LLC, |  |  |
| 2.70%, 10/01/2030 |  | 168000 | &nbsp;&nbsp; 159394 |
| 4.85%, 03/01/2035 |  | 1280000 | &nbsp;&nbsp; 1295080 |
| 5.30%, 02/01/2036<sup>(c)</sup> <br>|  | 4538000 | &nbsp;&nbsp; 4719334 |
| Kite Realty Group L.P., | Kite Realty Group L.P., |  |  |
| 4.95%, 12/15/2031 |  | 774000 | &nbsp;&nbsp; 793144 |
| 5.50%, 03/01/2034<sup>(c)</sup> <br>|  | 426000 | &nbsp;&nbsp; 445048 |
| Kite Realty Group Trust, 4.75%, <br> 09/15/2030<sup>(c)</sup> <br>|  | 383000 | &nbsp;&nbsp; 390961 |
| NNN REIT, Inc., | NNN REIT, Inc., |  |  |
| 5.60%, 10/15/2033 |  | 613000 | &nbsp;&nbsp; 646541 |
| 5.50%, 06/15/2034 |  | 821000 | &nbsp;&nbsp; 858588 |
| Realty Income Corp., | Realty Income Corp., |  |  |
| 4.85%, 03/15/2030 |  | 181000 | &nbsp;&nbsp; 186866 |
| 5.63%, 10/13/2032 |  | 756000 | &nbsp;&nbsp; 808466 |
| 4.50%, 02/01/2033<sup>(c)</sup> <br>|  | 3761000 | &nbsp;&nbsp; 3769990 |
| 5.13%, 04/15/2035 |  | 651000 | &nbsp;&nbsp; 670079 |
| 5.38%, 09/01/2054<sup>(c)</sup> <br>|  | 542000 | &nbsp;&nbsp; 532251 |

---

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

**23**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Retail REITs–(continued)** | **Retail REITs–(continued)** | **Retail REITs–(continued)** | **Retail REITs–(continued)** |
| Regency Centers L.P., | Regency Centers L.P., |  |  |
| 5.00%, 07/15/2032 |  | $1187000 | &nbsp;&nbsp; $1224344 |
| 4.50%, 03/15/2033 |  | 2134000 | &nbsp;&nbsp; 2135380 |
| 5.25%, 01/15/2034 |  | 850000 | &nbsp;&nbsp; 882717 |
| 5.10%, 01/15/2035 |  | 650000 | &nbsp;&nbsp; 666338 |
| Simon Property Group L.P., <br> 4.75%, 09/26/2034<br>|  | 3506000 | &nbsp;&nbsp; 3531573 |
|  |  |  | &nbsp;&nbsp; 26490004 |
| **Security & Alarm Services–0.19%** | **Security & Alarm Services–0.19%** | **Security & Alarm Services–0.19%** | **Security & Alarm Services–0.19%** |
| Brink's Co. (The), | Brink's Co. (The), |  |  |
| 4.63%, 10/15/2027<sup>(b)</sup> <br>|  | 6700000 | &nbsp;&nbsp; 6711085 |
| 6.50%, 06/15/2029<sup>(b)</sup> <br>|  | 540000 | &nbsp;&nbsp; 556510 |
| 6.75%, 06/15/2032<sup>(b)(c)</sup> <br>|  | 588000 | &nbsp;&nbsp; 609042 |
|  |  |  | &nbsp;&nbsp; 7876637 |
| **Self-Storage REITs–0.65%** | **Self-Storage REITs–0.65%** | **Self-Storage REITs–0.65%** | **Self-Storage REITs–0.65%** |
| Americold Realty Operating Partnership <br> L.P., | Americold Realty Operating Partnership <br> L.P., |  |  |
| 5.60%, 05/15/2032 |  | 1598000 | &nbsp;&nbsp; 1638379 |
| 5.41%, 09/12/2034 |  | 1658000 | &nbsp;&nbsp; 1644130 |
| Extra Space Storage L.P., | Extra Space Storage L.P., |  |  |
| 5.70%, 04/01/2028 |  | 395000 | &nbsp;&nbsp; 408027 |
| 2.55%, 06/01/2031 |  | 194000 | &nbsp;&nbsp; 177326 |
| 4.95%, 01/15/2033 |  | 1637000 | &nbsp;&nbsp; 1663622 |
| 5.40%, 02/01/2034 |  | 1518000 | &nbsp;&nbsp; 1566488 |
| Goodman US Finance Six LLC <br> (Australia), 5.13%, <br> 10/07/2034<sup>(b)</sup> <br>|  | 496000 | &nbsp;&nbsp; 505988 |
| Prologis L.P., | Prologis L.P., |  |  |
| 4.63%, 01/15/2033 |  | 1687000 | &nbsp;&nbsp; 1712592 |
| 4.75%, 06/15/2033 |  | 1744000 | &nbsp;&nbsp; 1782114 |
| 5.13%, 01/15/2034 |  | 879000 | &nbsp;&nbsp; 911441 |
| 5.00%, 03/15/2034 |  | 3232000 | &nbsp;&nbsp; 3325633 |
| 5.00%, 01/31/2035 |  | 2079000 | &nbsp;&nbsp; 2131199 |
| 5.25%, 05/15/2035<sup>(c)</sup> <br>|  | 2279000 | &nbsp;&nbsp; 2375368 |
| 5.25%, 06/15/2053 |  | 2596000 | &nbsp;&nbsp; 2513744 |
| 5.25%, 03/15/2054<sup>(c)</sup> <br>|  | 3251000 | &nbsp;&nbsp; 3135520 |
| Public Storage Operating Co., <br> 5.35%, 08/01/2053<sup>(c)</sup> <br>|  | 1533000 | &nbsp;&nbsp; 1508451 |
|  |  |  | &nbsp;&nbsp; 27000022 |
| **Semiconductors–2.39%** | **Semiconductors–2.39%** | **Semiconductors–2.39%** | **Semiconductors–2.39%** |
| AP Grange Holdings LLC, | AP Grange Holdings LLC, |  |  |
| 6.50%, 03/20/2045<sup>(b)</sup> <br>|  | 20342000 | &nbsp;&nbsp; 21486237 |
| 6.50%, 03/20/2045 |  | 1560194 | &nbsp;&nbsp; 1560194 |
| Broadcom, Inc., | Broadcom, Inc., |  |  |
| 5.05%, 07/12/2029 |  | 1136000 | &nbsp;&nbsp; 1175580 |
| 5.15%, 11/15/2031 |  | 1343000 | &nbsp;&nbsp; 1406594 |
| 5.20%, 07/15/2035 |  | 2739000 | &nbsp;&nbsp; 2831817 |
| 4.80%, 02/15/2036 |  | 4138000 | &nbsp;&nbsp; 4149811 |
| 4.90%, 02/15/2038 |  | 3276000 | &nbsp;&nbsp; 3259360 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Semiconductors–(continued)** | **Semiconductors–(continued)** | **Semiconductors–(continued)** | **Semiconductors–(continued)** |
| Foundry JV Holdco LLC, | Foundry JV Holdco LLC, |  |  |
| 5.90%, 01/25/2030<sup>(b)</sup> <br>|  | $3546000 | &nbsp;&nbsp; $3744106 |
| 5.50%, 01/25/2031<sup>(b)</sup> <br>|  | 3515000 | &nbsp;&nbsp; 3670322 |
| 6.15%, 01/25/2032<sup>(b)</sup> <br>|  | 6201000 | &nbsp;&nbsp; 6656454 |
| 5.90%, 01/25/2033<sup>(b)</sup> <br>|  | 3054000 | &nbsp;&nbsp; 3238673 |
| 5.88%, 01/25/2034<sup>(b)</sup> <br>|  | 5851000 | &nbsp;&nbsp; 6114674 |
| 6.25%, 01/25/2035<sup>(b)</sup> <br>|  | 4540000 | &nbsp;&nbsp; 4893074 |
| 6.10%, 01/25/2036<sup>(b)</sup> <br>|  | 3681000 | &nbsp;&nbsp; 3934271 |
| 6.20%, 01/25/2037<sup>(b)</sup> <br>|  | 3896000 | &nbsp;&nbsp; 4177107 |
| 6.40%, 01/25/2038<sup>(b)</sup> <br>|  | 3300000 | &nbsp;&nbsp; 3592732 |
| 6.30%, 01/25/2039<sup>(b)</sup> <br>|  | 2470000 | &nbsp;&nbsp; 2674894 |
| Kioxia Holdings Corp. (Japan), <br> 6.63%, 07/24/2033<sup>(b)</sup> <br>|  | 600000 | &nbsp;&nbsp; 632856 |
| Micron Technology, Inc., | Micron Technology, Inc., |  |  |
| 5.30%, 01/15/2031<sup>(c)</sup> <br>|  | 795000 | &nbsp;&nbsp; 835155 |
| 5.65%, 11/01/2032 |  | 1188000 | &nbsp;&nbsp; 1266639 |
| 6.05%, 11/01/2035 |  | 3297000 | &nbsp;&nbsp; 3582765 |
| SK hynix, Inc. (South Korea), <br> 4.38%, 09/11/2030<sup>(b)(c)</sup> <br>|  | 13528000 | &nbsp;&nbsp; 13731792 |
|  |  |  | &nbsp;&nbsp; 98615107 |
| **Single-Family Residential REITs–0.11%** | **Single-Family Residential REITs–0.11%** | **Single-Family Residential REITs–0.11%** | **Single-Family Residential REITs–0.11%** |
| American Homes 4 Rent L.P., <br> 5.50%, 07/15/2034<br>|  | 3335000 | &nbsp;&nbsp; 3450085 |
| Invitation Homes Operating <br> Partnership L.P., 4.88%, <br> 02/01/2035<br>|  | 1176000 | &nbsp;&nbsp; 1168327 |
|  |  |  | &nbsp;&nbsp; 4618412 |
| **Soft Drinks & Non-alcoholic Beverages–0.26%** | **Soft Drinks & Non-alcoholic Beverages–0.26%** | **Soft Drinks & Non-alcoholic Beverages–0.26%** | **Soft Drinks & Non-alcoholic Beverages–0.26%** |
| Coca-Cola Co. (The), | Coca-Cola Co. (The), |  |  |
| 5.30%, 05/13/2054 |  | 5136000 | &nbsp;&nbsp; 5107604 |
| 5.40%, 05/13/2064 |  | 4410000 | &nbsp;&nbsp; 4368442 |
| Keurig Dr Pepper, Inc., 4.35%, <br> 05/15/2028<br>|  | 1388000 | &nbsp;&nbsp; 1396637 |
|  |  |  | &nbsp;&nbsp; 10872683 |
| **Sovereign Debt–1.18%** | **Sovereign Debt–1.18%** | **Sovereign Debt–1.18%** | **Sovereign Debt–1.18%** |
| Bahamas Government <br> International Bond (Bahamas), <br> 8.25%, 06/24/2036<sup>(b)</sup> <br>|  | 948000 | &nbsp;&nbsp; 1065343 |
| Benin Sukuk S.A. (Benin), 6.20%, <br> 01/29/2033<sup>(b)</sup> <br>|  | 2220000 | &nbsp;&nbsp; 2191193 |
| Colombia Government International <br> Bond (Colombia), | Colombia Government International <br> Bond (Colombia), |  |  |
| 5.38%, 01/21/2029 |  | 12109000 | &nbsp;&nbsp; 12090837 |
| 6.13%, 01/21/2031 |  | 2533000 | &nbsp;&nbsp; 2533380 |
| 6.50%, 01/21/2033 |  | 2355000 | &nbsp;&nbsp; 2341600 |
| Dominican Republic International Bond <br> (Dominican Republic), | Dominican Republic International Bond <br> (Dominican Republic), |  |  |
| 5.75%, 03/17/2034<sup>(b)</sup> <br>|  | 3705000 | &nbsp;&nbsp; 3707779 |
| 6.15%, 05/17/2038<sup>(b)(c)</sup> <br>|  | 2852000 | &nbsp;&nbsp; 2861269 |
| Egyptian Financial Co. for <br> Sovereign Taskeek (The) <br> (Egypt), 6.38%, <br> 04/07/2029<sup>(b)</sup> <br>|  | 1583000 | &nbsp;&nbsp; 1601980 |
| Guatemala Government Bond <br> (Guatemala), | Guatemala Government Bond <br> (Guatemala), |  |  |
| 6.05%, 08/06/2031<sup>(b)</sup> <br>|  | 1870000 | &nbsp;&nbsp; 1963706 |
| 6.88%, 08/15/2055<sup>(b)</sup> <br>|  | 1527000 | &nbsp;&nbsp; 1676371 |
| Israel Government International <br> Bond (Israel), 5.00%, <br> 01/13/2036<br>|  | 200000 | &nbsp;&nbsp; 199306 |

---

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

**24**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Sovereign Debt–(continued)** | **Sovereign Debt–(continued)** | **Sovereign Debt–(continued)** | **Sovereign Debt–(continued)** |
| Mexico Government International Bond <br> (Mexico), | Mexico Government International Bond <br> (Mexico), |  |  |
| 4.75%, 03/22/2031 |  | $8038000 | &nbsp;&nbsp; $8000623 |
| 5.38%, 03/22/2033 |  | 1425000 | &nbsp;&nbsp; 1428634 |
| Series 10, 5.63%, <br> 09/22/2035<br>|  | 413000 | &nbsp;&nbsp; 412381 |
| Romanian Government International <br> Bond (Romania), | Romanian Government International <br> Bond (Romania), |  |  |
| 6.63%, 02/17/2028<sup>(b)</sup> <br>|  | 2522000 | &nbsp;&nbsp; 2636412 |
| 5.88%, 01/30/2029<sup>(b)</sup> <br>|  | 1992000 | &nbsp;&nbsp; 2070308 |
| Trinidad & Tobago Government <br> International Bond (Trinidad), <br> 6.40%, 06/26/2034<sup>(b)</sup> <br>|  | 2138000 | &nbsp;&nbsp; 2179306 |
|  |  |  | &nbsp;&nbsp; 48960428 |
| **Specialized Consumer Services–0.34%** | **Specialized Consumer Services–0.34%** | **Specialized Consumer Services–0.34%** | **Specialized Consumer Services–0.34%** |
| Ashtead Capital, Inc. (United <br> Kingdom), 5.55%, <br> 05/30/2033<sup>(b)(c)</sup> <br>|  | 1852000 | &nbsp;&nbsp; 1939706 |
| Carriage Services, Inc., 4.25%, <br> 05/15/2029<sup>(b)</sup> <br>|  | 927000 | &nbsp;&nbsp; 893311 |
| Rentokil Terminix Funding LLC, | Rentokil Terminix Funding LLC, |  |  |
| 5.00%, 04/28/2030<sup>(b)</sup> <br>|  | 4158000 | &nbsp;&nbsp; 4258775 |
| 5.63%, 04/28/2035<sup>(b)</sup> <br>|  | 6841000 | &nbsp;&nbsp; 7114575 |
|  |  |  | &nbsp;&nbsp; 14206367 |
| **Specialized Finance–0.04%** | **Specialized Finance–0.04%** | **Specialized Finance–0.04%** | **Specialized Finance–0.04%** |
| HA Sustainable Infrastructure Capital, <br> Inc., | HA Sustainable Infrastructure Capital, <br> Inc., |  |  |
| 8.00%, 06/01/2056<sup>(c)(e)</sup> <br>|  | 581000 | &nbsp;&nbsp; 612142 |
| 7.13%, 11/15/2056<sup>(e)</sup> <br>|  | 281000 | &nbsp;&nbsp; 280984 |
| TrueNoord Capital DAC (Ireland), <br> 8.75%, 03/01/2030<sup>(b)</sup> <br>|  | 820000 | &nbsp;&nbsp; 866769 |
|  |  |  | &nbsp;&nbsp; 1759895 |
| **Specialty Chemicals–0.41%** | **Specialty Chemicals–0.41%** | **Specialty Chemicals–0.41%** | **Specialty Chemicals–0.41%** |
| Celanese US Holdings LLC, | Celanese US Holdings LLC, |  |  |
| 7.20%, 11/15/2033<sup>(c)</sup> <br>|  | 406000 | &nbsp;&nbsp; 436483 |
| 7.38%, 02/15/2034 |  | 156000 | &nbsp;&nbsp; 160364 |
| OCP S.A. (Morocco), | OCP S.A. (Morocco), |  |  |
| 6.10%, 04/30/2030<sup>(b)</sup> <br>|  | 2667000 | &nbsp;&nbsp; 2790212 |
| 6.70%, 03/01/2036<sup>(b)</sup> <br>|  | 1374000 | &nbsp;&nbsp; 1484057 |
| Sherwin-Williams Co. (The), | Sherwin-Williams Co. (The), |  |  |
| 4.30%, 08/15/2028 |  | 4444000 | &nbsp;&nbsp; 4485546 |
| 4.50%, 08/15/2030 |  | 3409000 | &nbsp;&nbsp; 3462115 |
| 5.15%, 08/15/2035 |  | 4014000 | &nbsp;&nbsp; 4133133 |
|  |  |  | &nbsp;&nbsp; 16951910 |
| **Steel–0.35%** | **Steel–0.35%** | **Steel–0.35%** | **Steel–0.35%** |
| ArcelorMittal S.A. (Luxembourg), <br> 6.55%, 11/29/2027<br>|  | 1019000 | &nbsp;&nbsp; 1059928 |
| Cleveland-Cliffs, Inc., | Cleveland-Cliffs, Inc., |  |  |
| 6.88%, 11/01/2029<sup>(b)</sup> <br>|  | 4842000 | &nbsp;&nbsp; 4991158 |
| 7.63%, 01/15/2034<sup>(b)</sup> <br>|  | 3544000 | &nbsp;&nbsp; 3639479 |
| Nucor Corp., 2.98%, <br> 12/15/2055<br>|  | 3459000 | &nbsp;&nbsp; 2211394 |
| POSCO Holdings, Inc. (South <br> Korea), 5.13%, <br> 05/07/2030<sup>(b)</sup> <br>|  | 2459000 | &nbsp;&nbsp; 2552860 |
|  |  |  | &nbsp;&nbsp; 14454819 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Systems Software–2.20%** | **Systems Software–2.20%** | **Systems Software–2.20%** | **Systems Software–2.20%** |
| CrowdStrike Holdings, Inc., <br> 3.00%, 02/15/2029<br>|  | $5000000 | &nbsp;&nbsp; $4753017 |
| Oracle Corp., | Oracle Corp., |  |  |
| 4.55%, 02/04/2029 |  | 5466000 | &nbsp;&nbsp; 5477600 |
| 4.81% (SOFR + 1.11%), <br> 02/04/2029<sup>(c)(f)</sup> <br>|  | 4012000 | &nbsp;&nbsp; 4007915 |
| 4.45%, 09/26/2030<sup>(c)</sup> <br>|  | 3078000 | &nbsp;&nbsp; 3019702 |
| 4.95%, 02/04/2031<sup>(c)</sup> <br>|  | 7108000 | &nbsp;&nbsp; 7095510 |
| 6.25%, 11/09/2032 |  | 2734000 | &nbsp;&nbsp; 2887823 |
| 4.90%, 02/06/2033<sup>(c)</sup> <br>|  | 1247000 | &nbsp;&nbsp; 1219644 |
| 5.35%, 05/04/2033 |  | 5215000 | &nbsp;&nbsp; 5234156 |
| 4.70%, 09/27/2034 |  | 2772000 | &nbsp;&nbsp; 2606469 |
| 5.20%, 09/26/2035<sup>(c)</sup> <br>|  | 2044000 | &nbsp;&nbsp; 1975957 |
| 5.70%, 02/04/2036 |  | 8433000 | &nbsp;&nbsp; 8440889 |
| 5.88%, 09/26/2045 |  | 3328000 | &nbsp;&nbsp; 3017176 |
| 6.55%, 02/04/2046 |  | 12368000 | &nbsp;&nbsp; 12058599 |
| 4.00%, 11/15/2047 |  | 156000 | &nbsp;&nbsp; 107682 |
| 6.90%, 11/09/2052 |  | 1708000 | &nbsp;&nbsp; 1691345 |
| 5.55%, 02/06/2053 |  | 156000 | &nbsp;&nbsp; 129811 |
| 5.38%, 09/27/2054 |  | 4069000 | &nbsp;&nbsp; 3301088 |
| 6.00%, 08/03/2055 |  | 2118000 | &nbsp;&nbsp; 1866958 |
| 5.95%, 09/26/2055<sup>(c)</sup> <br>|  | 2319000 | &nbsp;&nbsp; 2042204 |
| 6.70%, 02/04/2056 |  | 13094000 | &nbsp;&nbsp; 12706054 |
| 5.50%, 09/27/2064 |  | 2728000 | &nbsp;&nbsp; 2159170 |
| 6.13%, 08/03/2065 |  | 3437000 | &nbsp;&nbsp; 2988823 |
| 6.10%, 09/26/2065 |  | 133000 | &nbsp;&nbsp; 115325 |
| 6.85%, 02/04/2066 |  | 1938000 | &nbsp;&nbsp; 1857854 |
|  |  |  | &nbsp;&nbsp; 90760771 |
| **Technology Hardware, Storage & Peripherals–0.17%** | **Technology Hardware, Storage & Peripherals–0.17%** | **Technology Hardware, Storage & Peripherals–0.17%** | **Technology Hardware, Storage & Peripherals–0.17%** |
| Apple, Inc., | Apple, Inc., |  |  |
| 3.95%, 08/08/2052 |  | 139000 | &nbsp;&nbsp; 112065 |
| 4.10%, 08/08/2062 |  | 1788000 | &nbsp;&nbsp; 1427139 |
| Hewlett Packard Enterprise Co., | Hewlett Packard Enterprise Co., |  |  |
| 5.00%, 10/15/2034 |  | 2144000 | &nbsp;&nbsp; 2125462 |
| 5.60%, 10/15/2054<sup>(c)</sup> <br>|  | 3764000 | &nbsp;&nbsp; 3466459 |
|  |  |  | &nbsp;&nbsp; 7131125 |
| **Telecom Tower REITs–0.12%** | **Telecom Tower REITs–0.12%** | **Telecom Tower REITs–0.12%** | **Telecom Tower REITs–0.12%** |
| American Tower Corp., 3.10%, <br> 06/15/2050<br>|  | 103000 | &nbsp;&nbsp; 69290 |
| SBA Communications Corp., <br> 3.88%, 02/15/2027<br>|  | 4800000 | &nbsp;&nbsp; 4773596 |
|  |  |  | &nbsp;&nbsp; 4842886 |
| **Tobacco–0.93%** | **Tobacco–0.93%** | **Tobacco–0.93%** | **Tobacco–0.93%** |
| Altria Group, Inc., 3.70%, <br> 02/04/2051<br>|  | 489000 | &nbsp;&nbsp; 350208 |
| B.A.T. Capital Corp. (United Kingdom), | B.A.T. Capital Corp. (United Kingdom), |  |  |
| 5.83%, 02/20/2031 |  | 1637000 | &nbsp;&nbsp; 1751147 |
| 4.63%, 03/22/2033<sup>(c)</sup> <br>|  | 2068000 | &nbsp;&nbsp; 2077304 |
| 6.00%, 02/20/2034<sup>(c)</sup> <br>|  | 2167000 | &nbsp;&nbsp; 2353527 |
| 7.08%, 08/02/2043 |  | 151000 | &nbsp;&nbsp; 171783 |
| 7.08%, 08/02/2053<sup>(c)</sup> <br>|  | 4065000 | &nbsp;&nbsp; 4663273 |

---

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

**25**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Tobacco–(continued)** | **Tobacco–(continued)** | **Tobacco–(continued)** | **Tobacco–(continued)** |
| Philip Morris International, Inc., | Philip Morris International, Inc., |  |  |
| 5.13%, 11/17/2027 |  | $20000 | &nbsp;&nbsp; $20427 |
| 4.88%, 02/13/2029 |  | 30000 | &nbsp;&nbsp; 30844 |
| 4.63%, 11/01/2029 |  | 900000 | &nbsp;&nbsp; 922130 |
| 4.38%, 04/30/2030 |  | 2859000 | &nbsp;&nbsp; 2896761 |
| 4.00%, 10/29/2030<sup>(c)</sup> <br>|  | 2512000 | &nbsp;&nbsp; 2511298 |
| 5.13%, 02/13/2031 |  | 574000 | &nbsp;&nbsp; 599001 |
| 4.75%, 11/01/2031 |  | 821000 | &nbsp;&nbsp; 844600 |
| 5.75%, 11/17/2032 |  | 1857000 | &nbsp;&nbsp; 2003524 |
| 5.38%, 02/15/2033 |  | 4460000 | &nbsp;&nbsp; 4710647 |
| 5.63%, 09/07/2033<sup>(c)</sup> <br>|  | 2945000 | &nbsp;&nbsp; 3158447 |
| 5.25%, 02/13/2034 |  | 1441000 | &nbsp;&nbsp; 1509869 |
| 4.90%, 11/01/2034 |  | 4101000 | &nbsp;&nbsp; 4193684 |
| 4.88%, 04/30/2035 |  | 2710000 | &nbsp;&nbsp; 2753160 |
| 4.63%, 10/29/2035 |  | 1006000 | &nbsp;&nbsp; 997627 |
|  |  |  | &nbsp;&nbsp; 38519261 |
| **Trading Companies & Distributors–0.37%** | **Trading Companies & Distributors–0.37%** | **Trading Companies & Distributors–0.37%** | **Trading Companies & Distributors–0.37%** |
| Air Lease Corp., Series B, <br> 4.65%<sup>(e)(h)</sup> <br>|  | 2043000 | &nbsp;&nbsp; 2041928 |
| Aircastle Ltd., 5.25%<sup>(b)(c)(e)(h)</sup> <br>|  | 589000 | &nbsp;&nbsp; 589073 |
| Ferguson Enterprises, Inc., | Ferguson Enterprises, Inc., |  |  |
| 4.35%, 03/15/2031 |  | 2808000 | &nbsp;&nbsp; 2817411 |
| 5.00%, 10/03/2034 |  | 1250000 | &nbsp;&nbsp; 1270441 |
| GATX Corp., | GATX Corp., |  |  |
| 5.50%, 06/15/2035 |  | 30000 | &nbsp;&nbsp; 31186 |
| 3.10%, 06/01/2051<sup>(c)</sup> <br>|  | 3528000 | &nbsp;&nbsp; 2318949 |
| 6.05%, 06/05/2054 |  | 42000 | &nbsp;&nbsp; 43464 |
| Mitsubishi Corp. (Japan), | Mitsubishi Corp. (Japan), |  |  |
| 5.00%, 07/02/2029<sup>(b)</sup> <br>|  | 2477000 | &nbsp;&nbsp; 2560665 |
| 5.13%, 07/17/2034<sup>(b)(c)</sup> <br>|  | 3344000 | &nbsp;&nbsp; 3478844 |
|  |  |  | &nbsp;&nbsp; 15151961 |
| **Transaction & Payment Processing Services–0.04%** | **Transaction & Payment Processing Services–0.04%** | **Transaction & Payment Processing Services–0.04%** | **Transaction & Payment Processing Services–0.04%** |
| Fiserv, Inc., | Fiserv, Inc., |  |  |
| 5.38%, 08/21/2028 |  | 27000 | &nbsp;&nbsp; 27678 |
| 4.55%, 02/15/2031 |  | 17000 | &nbsp;&nbsp; 16956 |
| 5.63%, 08/21/2033 |  | 25000 | &nbsp;&nbsp; 25885 |
| 5.45%, 03/15/2034 |  | 53000 | &nbsp;&nbsp; 54059 |
| Mastercard, Inc., 4.85%, <br> 03/09/2033<br>|  | 925000 | &nbsp;&nbsp; 958412 |
| PayPal Holdings, Inc., | PayPal Holdings, Inc., |  |  |
| 5.05%, 06/01/2052 |  | 189000 | &nbsp;&nbsp; 170374 |
| 5.25%, 06/01/2062<sup>(c)</sup> <br>|  | 330000 | &nbsp;&nbsp; 302084 |
|  |  |  | &nbsp;&nbsp; 1555448 |
| **Water Utilities–0.03%** | **Water Utilities–0.03%** | **Water Utilities–0.03%** | **Water Utilities–0.03%** |
| American Water Capital Corp., <br> 5.70%, 09/01/2055<br>|  | 1279000 | &nbsp;&nbsp; 1296411 |
| **Wireless Telecommunication Services–0.39%** | **Wireless Telecommunication Services–0.39%** | **Wireless Telecommunication Services–0.39%** | **Wireless Telecommunication Services–0.39%** |
| Sprint Spectrum Co. LLC/Sprint <br> Spectrum Co. II LLC/Sprint <br> Spectrum Co. III LLC, 5.15%, <br> 03/20/2028<sup>(b)</sup> <br>|  | 1529100 | &nbsp;&nbsp; 1540133 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Wireless Telecommunication Services–(continued)** | **Wireless Telecommunication Services–(continued)** | **Wireless Telecommunication Services–(continued)** | **Wireless Telecommunication Services–(continued)** |
| T-Mobile USA, Inc., | T-Mobile USA, Inc., |  |  |
| 4.95%, 11/15/2035 |  | $3463000 | &nbsp;&nbsp; $3496268 |
| 4.50%, 04/15/2050 |  | 757000 | &nbsp;&nbsp; 635611 |
| 5.65%, 01/15/2053 |  | 1934000 | &nbsp;&nbsp; 1897926 |
| 6.00%, 06/15/2054 |  | 780000 | &nbsp;&nbsp; 800991 |
| 5.50%, 01/15/2055 |  | 41000 | &nbsp;&nbsp; 39140 |
| 5.88%, 11/15/2055 |  | 1872000 | &nbsp;&nbsp; 1892215 |
| 5.70%, 01/15/2056<sup>(c)</sup> <br>|  | 4345000 | &nbsp;&nbsp; 4287793 |
| Vodafone Group PLC (United Kingdom), | Vodafone Group PLC (United Kingdom), |  |  |
| 5.75%, 02/10/2063 |  | 364000 | &nbsp;&nbsp; 353155 |
| 4.13%, 06/04/2081<sup>(e)</sup> <br>|  | 1095000 | &nbsp;&nbsp; 1037622 |
|  |  |  | &nbsp;&nbsp; 15980854 |
| Total U.S. Dollar Denominated Bonds & Notes <br> (Cost $3,587,775,489) | Total U.S. Dollar Denominated Bonds & Notes <br> (Cost $3,587,775,489) | Total U.S. Dollar Denominated Bonds & Notes <br> (Cost $3,587,775,489) | &nbsp;&nbsp; 3647464007 |
| **U.S. Treasury Securities–3.79%** | **U.S. Treasury Securities–3.79%** | **U.S. Treasury Securities–3.79%** | **U.S. Treasury Securities–3.79%** |
| **U.S. Treasury Bills–0.76%** | **U.S. Treasury Bills–0.76%** | **U.S. Treasury Bills–0.76%** | **U.S. Treasury Bills–0.76%** |
| 3.52% - 4.12%, <br> 05/14/2026<sup>(k)(l)</sup> <br>|  | 31474000 | &nbsp;&nbsp; 31245197 |
| **U.S. Treasury Bonds–1.14%** | **U.S. Treasury Bonds–1.14%** | **U.S. Treasury Bonds–1.14%** | **U.S. Treasury Bonds–1.14%** |
| 4.63%, 02/15/2046 |  | 11045700 | &nbsp;&nbsp; 11124228 |
| 4.63%, 11/15/2055 |  | 36297000 | &nbsp;&nbsp; 36243121 |
|  |  |  | &nbsp;&nbsp; 47367349 |
| **U.S. Treasury Notes–1.89%** | **U.S. Treasury Notes–1.89%** | **U.S. Treasury Notes–1.89%** | **U.S. Treasury Notes–1.89%** |
| 3.50%, 01/31/2028 |  | 12484800 | &nbsp;&nbsp; 12509672 |
| 3.88%, 07/15/2028 |  | 1000 | &nbsp;&nbsp; 1011 |
| 3.50%, 02/15/2029 |  | 5557100 | &nbsp;&nbsp; 5574683 |
| 3.75%, 01/31/2031 |  | 15847600 | &nbsp;&nbsp; 16011028 |
| 4.00%, 01/31/2033 |  | 2370400 | &nbsp;&nbsp; 2411512 |
| 4.13%, 02/15/2036 |  | 41097900 | &nbsp;&nbsp; 41646943 |
|  |  |  | &nbsp;&nbsp; 78154849 |
| Total U.S. Treasury Securities <br> (Cost $156,290,261) | Total U.S. Treasury Securities <br> (Cost $156,290,261) | Total U.S. Treasury Securities <br> (Cost $156,290,261) | &nbsp;&nbsp; 156767395 |
| **Asset-Backed Securities–3.53%** | **Asset-Backed Securities–3.53%** | **Asset-Backed Securities–3.53%** | **Asset-Backed Securities–3.53%** |
| Carlyle US CLO Ltd., <br> Series 2022-1A, Class A1R, <br> 4.65% (3 mo. Term SOFR + <br> 0.98%), 04/15/2035<sup>(b)(f)</sup> <br>|  | 6518510 | &nbsp;&nbsp; 6520459 |
| Centersquare Issuer LLC, | Centersquare Issuer LLC, |  |  |
| Series 2025-3A, Class A2, <br> 5.00%, 08/25/2055<sup>(b)</sup> <br>|  | 6160000 | &nbsp;&nbsp; 6010269 |
| Series 2025-4A, Class A2, <br> 5.20%, 08/25/2055<sup>(j)</sup> <br>|  | 7750000 | &nbsp;&nbsp; 7442922 |
| CIFC Funding Ltd., <br> Series 2022-3A, Class AR, <br> 4.62% (3 mo. Term SOFR + <br> 0.95%), 04/21/2035<sup>(b)(f)</sup> <br>|  | 7350000 | &nbsp;&nbsp; 7353638 |
| CLI Funding IX LLC, <br> Series 2025-1A, Class A, <br> 5.35%, 06/20/2050<sup>(b)</sup> <br>|  | 2354215 | &nbsp;&nbsp; 2402076 |
| DB Master Finance LLC, | DB Master Finance LLC, |  |  |
| Series 2025-1A, Class A2I, <br> 4.89%, 08/20/2055<sup>(b)</sup> <br>|  | 3022425 | &nbsp;&nbsp; 3060244 |
| Series 2025-1A, Class A2II, <br> 5.17%, 08/20/2055<sup>(b)</sup> <br>|  | 2324175 | &nbsp;&nbsp; 2363790 |
| Domino's Pizza Master Issuer LLC, | Domino's Pizza Master Issuer LLC, |  |  |
| Series 2025-1A, Class A2I, <br> 4.93%, 07/25/2055<sup>(b)</sup> <br>|  | 6530000 | &nbsp;&nbsp; 6662368 |
| Series 2025-1A, Class A2II, <br> 5.22%, 07/25/2055<sup>(b)</sup> <br>|  | 5550000 | &nbsp;&nbsp; 5712986 |

---

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

**26**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| Hilton Grand Vacations Trust, <br> Series 2025-1A, Class A, <br> 4.88%, 05/27/2042<sup>(b)</sup> <br>|  | $1465584 | &nbsp;&nbsp; $1494351 |
| IP Lending IV Ltd., <br> Series 2022-4A, Class SNR, <br> 6.05%, 04/28/2027<sup>(b)(j)</sup> <br>|  | 5941000 | &nbsp;&nbsp; 5939218 |
| Jersey Mike's Funding, <br> Series 2025-1A, Class A2, <br> 5.61%, 08/16/2055<sup>(b)</sup> <br>|  | 5273500 | &nbsp;&nbsp; 5477179 |
| Jimmy John's Funding LLC, <br> Series 2017-1A, Class A2II, <br> 4.85%, 07/30/2047<sup>(b)</sup> <br>|  | 2515683 | &nbsp;&nbsp; 2518671 |
| Metronet Infrastructure <br> Issuer LLC, Series 2025-1A, <br> Class A2, 6.01%, <br> 07/20/2055<sup>(j)</sup> <br>|  | 4750000 | &nbsp;&nbsp; 4905205 |
| Planet Fitness Master Issuer LLC, <br> Series 2025-1A, Class A2II, <br> 5.65%, 12/06/2055<sup>(b)</sup> <br>|  | 1800000 | &nbsp;&nbsp; 1811595 |
| Qdoba Funding LLC, <br> Series 2023-1A, Class A2, <br> 8.50%, 09/14/2053<sup>(b)</sup> <br>|  | 11268757 | &nbsp;&nbsp; 11804607 |
| Sonic Capital LLC, | Sonic Capital LLC, |  |  |
| Series 2020-1A, Class A2I, <br> 3.85%, 01/20/2050<sup>(b)</sup> <br>|  | 10102995 | &nbsp;&nbsp; 10022092 |
| Series 2021-1A, Class A2I, <br> 2.19%, 08/20/2051<sup>(b)</sup> <br>|  | 2437375 | &nbsp;&nbsp; 2294456 |
| Series 2021-1A, Class A2II, <br> 2.64%, 08/20/2051<sup>(b)</sup> <br>|  | 2399142 | &nbsp;&nbsp; 2127641 |
| Subway Funding LLC, | Subway Funding LLC, |  |  |
| Series 2024-1A, Class A23, <br> 6.51%, 07/30/2054<sup>(b)</sup> <br>|  | 4677788 | &nbsp;&nbsp; 4854549 |
| Series 2024-1A, Class A2I, <br> 6.03%, 07/30/2054<sup>(b)</sup> <br>|  | 5133025 | &nbsp;&nbsp; 5194292 |
| Series 2024-1A, Class A2I, <br> 6.27%, 07/30/2054<sup>(b)</sup> <br>|  | 5090562 | &nbsp;&nbsp; 5220613 |
| Series 2024-3A, Class A23, <br> 5.91%, 07/30/2054<sup>(b)</sup> <br>|  | 5278187 | &nbsp;&nbsp; 5296529 |
| Series 2024-3A, Class A2I, <br> 5.25%, 07/30/2054<sup>(b)</sup> <br>|  | 4868375 | &nbsp;&nbsp; 4864574 |
| Series 2024-3A, Class A2I, <br> 5.57%, 07/30/2054<sup>(b)</sup> <br>|  | 4996750 | &nbsp;&nbsp; 5002534 |
| Taco Bell Funding LLC, | Taco Bell Funding LLC, |  |  |
| Series 2025-1A, Class A2I, <br> 4.82%, 08/25/2055<sup>(b)</sup> <br>|  | 4139625 | &nbsp;&nbsp; 4195270 |
| Series 2025-1A, Class A2II, <br> 5.05%, 08/25/2055<sup>(b)</sup> <br>|  | 2403975 | &nbsp;&nbsp; 2460283 |
| Wendy's Funding LLC, <br> Series 2018-1A, Class A2II, <br> 3.88%, 03/15/2048<sup>(b)</sup> <br>|  | 4184750 | &nbsp;&nbsp; 4145473 |
| Zaxby's Funding LLC, <br> Series 2024-1A, Class A2I, <br> 6.59%, 04/30/2054<sup>(b)</sup> <br>|  | 3043650 | &nbsp;&nbsp; 3128428 |
| Zayo Issuer LLC, Series 2025-2A, <br> Class A2, 5.95%, <br> 06/20/2055<sup>(b)</sup> <br>|  | 5671000 | &nbsp;&nbsp; 5859522 |
| Total Asset-Backed Securities <br> (Cost $144,267,358) | Total Asset-Backed Securities <br> (Cost $144,267,358) | Total Asset-Backed Securities <br> (Cost $144,267,358) | &nbsp;&nbsp; 146145834 |
| **Variable Rate Senior Loan Interests–1.44%**<sup>(m)(n)</sup>  | **Variable Rate Senior Loan Interests–1.44%**<sup>(m)(n)</sup>  | **Variable Rate Senior Loan Interests–1.44%**<sup>(m)(n)</sup>  | **Variable Rate Senior Loan Interests–1.44%**<sup>(m)(n)</sup>  |
| **Aerospace & Defense–0.05%** | **Aerospace & Defense–0.05%** | **Aerospace & Defense–0.05%** | **Aerospace & Defense–0.05%** |
| TransDigm, Inc., Term Loan M, <br> 6.17% (1 mo. Term SOFR + <br> 2.50%), 08/19/2032<br>|  | 2009098 | &nbsp;&nbsp; 2010775 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Automobile Manufacturers–0.02%** | **Automobile Manufacturers–0.02%** | **Automobile Manufacturers–0.02%** | **Automobile Manufacturers–0.02%** |
| Panther BF Aggregator 2 L.P. <br> (Power Solutions, Clarios <br> POWSOL), Term Loan B, 6.42% <br> (1 mo. SOFR + 2.75%), <br> 01/28/2032<br>|  | $973061 | &nbsp;&nbsp; $972049 |
| **Health Care Facilities–0.04%** | **Health Care Facilities–0.04%** | **Health Care Facilities–0.04%** | **Health Care Facilities–0.04%** |
| Select Medical Corp., Term Loan <br> B, 5.67% (1 mo. Term SOFR + <br> 0.20%), 11/30/2031<br>|  | 1639797 | &nbsp;&nbsp; 1638263 |
| **Real Estate Development–0.17%** | **Real Estate Development–0.17%** | **Real Estate Development–0.17%** | **Real Estate Development–0.17%** |
| VCI Asset Holdings 2 LLC, Term <br> Loan, 9.50%, 02/06/2031<sup>(j)</sup> <br>|  | 7213012 | &nbsp;&nbsp; 7140882 |
| **Restaurants–0.77%** | **Restaurants–0.77%** | **Restaurants–0.77%** | **Restaurants–0.77%** |
| Raising Cane's Restaurants LLC, | Raising Cane's Restaurants LLC, |  |  |
| Term Loan B, 5.67% (1 mo. <br> Term SOFR + 2.00%), <br> 09/10/2031<br>|  | 10342508 | &nbsp;&nbsp; 10348973 |
| Term Loan, 5.67% (1 mo. <br> Term SOFR + 2.00%), <br> 11/03/2032<br>|  | 21620000 | &nbsp;&nbsp; 21620000 |
|  |  |  | &nbsp;&nbsp; 31968973 |
| **Wireless Telecommunication Services–0.39%** | **Wireless Telecommunication Services–0.39%** | **Wireless Telecommunication Services–0.39%** | **Wireless Telecommunication Services–0.39%** |
| X Corp., Term Loan B, 9.50%, <br> 10/27/2029<br>|  | 15171000 | &nbsp;&nbsp; 15940928 |
| Total Variable Rate Senior Loan Interests <br> (Cost $58,855,631) | Total Variable Rate Senior Loan Interests <br> (Cost $58,855,631) | Total Variable Rate Senior Loan Interests <br> (Cost $58,855,631) | &nbsp;&nbsp; 59671870 |
|  | <br>**Shares** | <br>**Shares** |  |
| **Preferred Stocks–1.29%** | **Preferred Stocks–1.29%** | **Preferred Stocks–1.29%** | **Preferred Stocks–1.29%** |
| **Aerospace & Defense–0.09%** | **Aerospace & Defense–0.09%** | **Aerospace & Defense–0.09%** | **Aerospace & Defense–0.09%** |
| Boeing Co. (The), 6.00%, Conv. Pfd. | Boeing Co. (The), 6.00%, Conv. Pfd. | 52000 | &nbsp;&nbsp; 3792360 |
| **Diversified Banks–0.51%** | **Diversified Banks–0.51%** | **Diversified Banks–0.51%** | **Diversified Banks–0.51%** |
| Citigroup, Inc., 6.25%, Series II, Pfd. | Citigroup, Inc., 6.25%, Series II, Pfd. | 137525 | &nbsp;&nbsp; 3493135 |
| Wells Fargo & Co., 7.50%, Class A, <br> Series L, Conv. Pfd. | Wells Fargo & Co., 7.50%, Class A, <br> Series L, Conv. Pfd. | 14224 | &nbsp;&nbsp; 17523826 |
|  |  |  | &nbsp;&nbsp; 21016961 |
| **Diversified Financial Services–0.18%** | **Diversified Financial Services–0.18%** | **Diversified Financial Services–0.18%** | **Diversified Financial Services–0.18%** |
| Apollo Global Management, Inc., <br> 7.63%, Pfd.<sup>(e)</sup>  | Apollo Global Management, Inc., <br> 7.63%, Pfd.<sup>(e)</sup>  | 287800 | &nbsp;&nbsp; 7390704 |
| **Electric Utilities–0.03%** | **Electric Utilities–0.03%** | **Electric Utilities–0.03%** | **Electric Utilities–0.03%** |
| NextEra Energy, Inc., 7.38%, Conv. <br> Pfd. | NextEra Energy, Inc., 7.38%, Conv. <br> Pfd. | 6283 | &nbsp;&nbsp; 314150 |
| Southern Co. (The), 7.13%, Series A, <br> Conv. Pfd. | Southern Co. (The), 7.13%, Series A, <br> Conv. Pfd. | 15000 | &nbsp;&nbsp; 799500 |
|  |  |  | &nbsp;&nbsp; 1113650 |
| **Household Appliances–0.00%** | **Household Appliances–0.00%** | **Household Appliances–0.00%** | **Household Appliances–0.00%** |
| Whirlpool Corp., 8.50%, Class A, Pfd. | Whirlpool Corp., 8.50%, Class A, Pfd. | 3685 | &nbsp;&nbsp; 183697 |
| **Investment Banking & Brokerage–0.25%** | **Investment Banking & Brokerage–0.25%** | **Investment Banking & Brokerage–0.25%** | **Investment Banking & Brokerage–0.25%** |
| Morgan Stanley, 7.13%, Series E, Pfd. | Morgan Stanley, 7.13%, Series E, Pfd. | 256997 | &nbsp;&nbsp; 6553424 |
| Morgan Stanley, 6.88%, Series F, Pfd. | Morgan Stanley, 6.88%, Series F, Pfd. | 150000 | &nbsp;&nbsp; 3807000 |
|  |  |  | &nbsp;&nbsp; 10360424 |
| **Regional Banks–0.16%** | **Regional Banks–0.16%** | **Regional Banks–0.16%** | **Regional Banks–0.16%** |
| M&T Bank Corp., 7.50%, Series J, Pfd. | M&T Bank Corp., 7.50%, Series J, Pfd. | 251487 | &nbsp;&nbsp; 6752426 |

---

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

**27**

**Invesco Corporate Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; <br> **Shares** | &nbsp;&nbsp; <br> **Shares** | **Value** |
| **Systems Software–0.07%** | **Systems Software–0.07%** | **Systems Software–0.07%** | **Systems Software–0.07%** |
| Oracle Corp., 6.50%, Class D, Conv. <br> Pfd. | Oracle Corp., 6.50%, Class D, Conv. <br> Pfd. | 59667 | &nbsp;&nbsp; $2744085 |
| Total Preferred Stocks (Cost $52,125,014) | Total Preferred Stocks (Cost $52,125,014) | Total Preferred Stocks (Cost $52,125,014) | &nbsp;&nbsp; 53354307 |
| **Exchange-Traded Funds–0.68%** | **Exchange-Traded Funds–0.68%** | **Exchange-Traded Funds–0.68%** | **Exchange-Traded Funds–0.68%** |
| Invesco Core Fixed Income ETF<sup>(o)</sup>  | Invesco Core Fixed Income ETF<sup>(o)</sup>  | 136500 | &nbsp;&nbsp; 3506057 |
| Invesco High Yield Systematic Bond <br> ETF<sup>(o)</sup>  | Invesco High Yield Systematic Bond <br> ETF<sup>(o)</sup>  | 195200 | &nbsp;&nbsp; 4393386 |
| Invesco Short Duration High Yield ETF<sup>(o)</sup>  | Invesco Short Duration High Yield ETF<sup>(o)</sup>  | 9000 | &nbsp;&nbsp; 231170 |
| Invesco Short Duration Total Return <br> Bond ETF<sup>(o)(p)</sup>  | Invesco Short Duration Total Return <br> Bond ETF<sup>(o)(p)</sup>  | 603300 | &nbsp;&nbsp; 15203160 |
| Invesco Total Return Bond ETF<sup>(o)</sup>  | Invesco Total Return Bond ETF<sup>(o)</sup>  | 100000 | &nbsp;&nbsp; 4795000 |
| Total Exchange-Traded Funds <br> (Cost $29,109,424) | Total Exchange-Traded Funds <br> (Cost $29,109,424) | Total Exchange-Traded Funds <br> (Cost $29,109,424) | &nbsp;&nbsp; 28128773 |
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** |  |
| **Non-U.S. Dollar Denominated Bonds & Notes–0.13%**<sup>(q)</sup>  | **Non-U.S. Dollar Denominated Bonds & Notes–0.13%**<sup>(q)</sup>  | **Non-U.S. Dollar Denominated Bonds & Notes–0.13%**<sup>(q)</sup>  | **Non-U.S. Dollar Denominated Bonds & Notes–0.13%**<sup>(q)</sup>  |
| **Drug Retail–0.02%** | **Drug Retail–0.02%** | **Drug Retail–0.02%** | **Drug Retail–0.02%** |
| Boots Group Finco L.P. (United <br> Kingdom), 5.38%, <br> 08/31/2032<sup>(b)</sup> <br>| EUR | 750000 | &nbsp;&nbsp; 923470 |
| **Health Care Supplies–0.01%** | **Health Care Supplies–0.01%** | **Health Care Supplies–0.01%** | **Health Care Supplies–0.01%** |
| Bausch + Lomb Netherlands B.V. <br> and Bausch & Lomb, Inc., <br> 5.89% (3 mo. EURIBOR + <br> 3.88%), 01/15/2031<sup>(b)(f)</sup> <br>| EUR | 500000 | &nbsp;&nbsp; 600209 |
| **Marine Transportation–0.02%** | **Marine Transportation–0.02%** | **Marine Transportation–0.02%** | **Marine Transportation–0.02%** |
| CMA CGM S.A. (France), 4.88%, <br> 01/15/2032<sup>(b)</sup> <br>| EUR | 525000 | &nbsp;&nbsp; 614495 |
| **Movies & Entertainment–0.08%** | **Movies & Entertainment–0.08%** | **Movies & Entertainment–0.08%** | **Movies & Entertainment–0.08%** |
| Netflix, Inc., 3.88%, <br> 11/15/2029<sup>(b)</sup> <br>| EUR | 2600000 | &nbsp;&nbsp; 3194984 |
| Total Non-U.S. Dollar Denominated Bonds & Notes <br> (Cost $4,946,540) | Total Non-U.S. Dollar Denominated Bonds & Notes <br> (Cost $4,946,540) | Total Non-U.S. Dollar Denominated Bonds & Notes <br> (Cost $4,946,540) | &nbsp;&nbsp; 5333158 |
|  | <br>**Shares** | <br>**Shares** |  |
| **Common Stocks & Other Equity Interests–0.02%** | **Common Stocks & Other Equity Interests–0.02%** | **Common Stocks & Other Equity Interests–0.02%** | **Common Stocks & Other Equity Interests–0.02%** |
| **Asset Management & Custody Banks–0.02%** | **Asset Management & Custody Banks–0.02%** | **Asset Management & Custody Banks–0.02%** | **Asset Management & Custody Banks–0.02%** |
| Valor Compute Infrastructure L.P., <br> (Cost $720,316) | Valor Compute Infrastructure L.P., <br> (Cost $720,316) | 720316 | &nbsp;&nbsp; 720316 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Municipal Obligations–0.00%** | **Municipal Obligations–0.00%** | **Municipal Obligations–0.00%** | **Municipal Obligations–0.00%** |
| Florida Development Finance Corp. <br> (Palm Bay Academy, Inc.), | Florida Development Finance Corp. <br> (Palm Bay Academy, Inc.), |  |  |
| Series 2017, Ref. RB, 0.00%, <br> 05/15/2037<sup>(b)(i)</sup> <br>|  | $360000 | &nbsp;&nbsp; $4 |
| Series 2017, Ref. RB, 0.00%, <br> 05/15/2037<sup>(b)(i)</sup> <br>|  | 350000 | &nbsp;&nbsp; 35000 |
| Total Municipal Obligations (Cost $401,381) | Total Municipal Obligations (Cost $401,381) | Total Municipal Obligations (Cost $401,381) | &nbsp;&nbsp; 35004 |
|  | <br>**Shares** | <br>**Shares** |  |
| **Money Market Funds–0.47%** | **Money Market Funds–0.47%** | **Money Market Funds–0.47%** | **Money Market Funds–0.47%** |
| Invesco Government & Agency Portfolio, <br> Institutional Class, 3.59%<sup>(o)(r)</sup>  | Invesco Government & Agency Portfolio, <br> Institutional Class, 3.59%<sup>(o)(r)</sup>  | 6764241 | &nbsp;&nbsp; 6764241 |
| Invesco Treasury Portfolio, Institutional <br> Class, 3.56%<sup>(o)(r)</sup>  | Invesco Treasury Portfolio, Institutional <br> Class, 3.56%<sup>(o)(r)</sup>  | 12562162 | &nbsp;&nbsp; 12562162 |
| Total Money Market Funds (Cost $19,326,403) | Total Money Market Funds (Cost $19,326,403) | Total Money Market Funds (Cost $19,326,403) | &nbsp;&nbsp; 19326403 |
| **Options Purchased–0.03%** | **Options Purchased–0.03%** | **Options Purchased–0.03%** | **Options Purchased–0.03%** |
| (Cost $2,145,261)<sup>(s)</sup>  | (Cost $2,145,261)<sup>(s)</sup>  | (Cost $2,145,261)<sup>(s)</sup>  | &nbsp;&nbsp; 1168545 |
| TOTAL INVESTMENTS IN <br> SECURITIES (excluding <br> investments purchased with <br> cash collateral from securities <br> on loan)-99.60% <br> (Cost $4,055,963,078)<br>|  |  | &nbsp;&nbsp; 4118115612 |
|  | <br>**Shares** | <br>**Shares** |  |
| **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–13.39%** | **Money Market Funds–13.39%** | **Money Market Funds–13.39%** | **Money Market Funds–13.39%** |
| Invesco Private Government Fund, <br> 3.64%<sup>(o)(r)(t)</sup>  | Invesco Private Government Fund, <br> 3.64%<sup>(o)(r)(t)</sup>  | 154351891 | &nbsp;&nbsp; 154351891 |
| Invesco Private Prime Fund, <br> 3.81%<sup>(o)(r)(t)</sup>  | Invesco Private Prime Fund, <br> 3.81%<sup>(o)(r)(t)</sup>  | 399042487 | &nbsp;&nbsp; 399162200 |
| Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $553,514,091) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $553,514,091) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $553,514,091) | &nbsp;&nbsp; 553514091 |
| TOTAL INVESTMENTS IN SECURITIES–112.99% <br> (Cost $4,609,477,169) | TOTAL INVESTMENTS IN SECURITIES–112.99% <br> (Cost $4,609,477,169) | TOTAL INVESTMENTS IN SECURITIES–112.99% <br> (Cost $4,609,477,169) | &nbsp;&nbsp; 4671629703 |
| OTHER ASSETS LESS LIABILITIES—(12.99)% | OTHER ASSETS LESS LIABILITIES—(12.99)% | OTHER ASSETS LESS LIABILITIES—(12.99)% | &nbsp;&nbsp; (537048087)<br>|
| NET ASSETS–100.00% | NET ASSETS–100.00% | NET ASSETS–100.00% | &nbsp;&nbsp; $4134581616 |

---

Investment Abbreviations:

---

| | |
|:---|:---|
| CLO | – Collateralized Loan Obligation |
| Conv. | – Convertible |
| ETF | – Exchange-Traded Fund |
| EUR | – Euro |
| EURIBOR | – Euro Interbank Offered Rate |
| Pfd. | – Preferred |
| PIK | – Pay-in-Kind |
| RB | – Revenue Bonds |
| Ref. | – Refunding |
| REIT | – Real Estate Investment Trust |
| SOFR | – Secured Overnight Financing Rate |

---

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

**28**

**Invesco Corporate Bond 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> Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at February 28, 2026 was $1,261,610,557, which represented 30.51% of the Fund's Net Assets. 

<sup>(c)</sup> All or a portion of this security was out on loan at February 28, 2026.

<sup>(d)</sup> Defaulted security. Currently, the issuer is in default with respect to principal and/or interest payments. The aggregate value of these securities at February 28, 2026 was $1,512,577, which represented less than 1% of the Fund's Net Assets. 

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

<sup>(f)</sup> Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2026.

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

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

<sup>(i)</sup> Zero coupon bond issued at a discount.

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

<sup>(k)</sup> All or a portion of the value was pledged as collateral to cover margin requirements for open futures contracts. See Note 1M.

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

<sup>(m)</sup> Variable rate senior loan interests often require prepayments from excess cash flow or permit the borrower to repay at its election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with any accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, it is anticipated that the variable rate senior loan interests will have an expected average life of three to five years. 

<sup>(n)</sup> Variable rate senior loan interests are, at present, not readily marketable, not registered under the Securities Act of 1933, as amended (the "1933 Act") and may be subject to contractual and legal restrictions on sale. Variable rate senior loan interests in the Fund's portfolio generally have variable rates which adjust to a base, such as the Secured Overnight Financing Rate ("SOFR"), on set dates, typically every 30 days, but not greater than one year, and/or have interest rates that float at margin above a widely recognized base lending rate such as the Prime Rate of a designated U.S. bank. 

<sup>(o)</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 fiscal year ended February 28, 2026. 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**February 28, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**February 28, 2026**<br>| **Dividend Income** |
| Invesco Core Fixed Income ETF | $- | &nbsp;&nbsp; $3477925 | &nbsp;&nbsp; $- | &nbsp;&nbsp; $28132 | &nbsp;&nbsp; $- | &nbsp;&nbsp; $3506057 | &nbsp;&nbsp; $21872 |
| Invesco High Yield Systematic Bond ETF | 341423 | &nbsp;&nbsp; 4077511 | &nbsp;&nbsp; - | &nbsp;&nbsp; (25548) | &nbsp;&nbsp; - | &nbsp;&nbsp; 4393386 | &nbsp;&nbsp; 154664 |
| Invesco Short Duration High Yield ETF | 255199 | &nbsp;&nbsp; - | &nbsp;&nbsp; (25350) | &nbsp;&nbsp; 887 | &nbsp;&nbsp; 434 | &nbsp;&nbsp; 231170 | &nbsp;&nbsp; 14946 |
| Invesco Short Duration Total Return Bond <br> ETF<br>| 299952 | &nbsp;&nbsp; 14860030 | &nbsp;&nbsp; - | &nbsp;&nbsp; 43178 | &nbsp;&nbsp; - | &nbsp;&nbsp; 15203160 | &nbsp;&nbsp; 214724 |
| Invesco Total Return Bond ETF | 4729000 | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 66000 | &nbsp;&nbsp; - | &nbsp;&nbsp; 4795000 | &nbsp;&nbsp; 224727 |
| **Investments in Affiliated Money Market** <br> **Funds:**<br>|  |  |  |  |  |  |  |
| Invesco Government & Agency Portfolio, <br> Institutional Class<br>| - | &nbsp;&nbsp; 532594551 | &nbsp;&nbsp; (525830310) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 6764241 | &nbsp;&nbsp; 487826 |
| Invesco Treasury Portfolio, Institutional <br> Class<br>| - | &nbsp;&nbsp; 989104165 | &nbsp;&nbsp; (976542003) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 12562162 | &nbsp;&nbsp; 896211 |
| **Investments Purchased with Cash** <br> **Collateral from Securities on Loan:**<br>|  |  |  |  |  |  |  |
| Invesco Private Government Fund | 160109774 | &nbsp;&nbsp; 739372797 | &nbsp;&nbsp; (745130680) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 154351891 | &nbsp;&nbsp; 5,842,782\* |
| Invesco Private Prime Fund | 423682964 | &nbsp;&nbsp; 1740070313 | &nbsp;&nbsp; (1764592086) | &nbsp;&nbsp; - | &nbsp;&nbsp; 1009 | &nbsp;&nbsp; 399162200 | &nbsp;&nbsp; 15,855,689\* |
| Total | $589418312 | &nbsp;&nbsp; $4023557292 | &nbsp;&nbsp; $(4012120429) | &nbsp;&nbsp; $112649 | &nbsp;&nbsp; $1443 | &nbsp;&nbsp; $600969267 | &nbsp;&nbsp; $23713441 |

---

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

<sup>(p)</sup> Formerly known as Invesco Short Duration Bond ETF.

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

<sup>(r)</sup> The rate shown is the 7-day SEC standardized yield as of February 28, 2026.

<sup>(s)</sup> The table below details options purchased.

<sup>(t)</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. See Note 1J. 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Open Exchange-Traded Index Options Purchased** | **Open Exchange-Traded Index Options Purchased** | **Open Exchange-Traded Index Options Purchased** | **Open Exchange-Traded Index Options Purchased** | **Open Exchange-Traded Index Options Purchased** | **Open Exchange-Traded Index Options Purchased** | **Open Exchange-Traded Index Options Purchased** | **Open Exchange-Traded Index Options Purchased** |
| **Description** | &nbsp;&nbsp;&nbsp; **Expiration** <br>**Date**<br>| &nbsp;&nbsp; **Number of** <br>**Contracts**<br>| &nbsp;&nbsp;&nbsp; **Exercise** <br>**Price** | &nbsp;&nbsp;&nbsp; **Exercise** <br>**Price** | &nbsp;&nbsp;&nbsp; **Notional** <br>**Value**<sup>(a)</sup>  | &nbsp;&nbsp;&nbsp; **Notional** <br>**Value**<sup>(a)</sup>  | **Value** |
| **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** |
| S&P 500 Index<br> Call | 05/15/2026 | &nbsp;&nbsp;&nbsp; 93 | USD | 7050.00 | USD | 65565000 | &nbsp;&nbsp;&nbsp; $1168545 |

---

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

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

**29**

**Invesco Corporate Bond Fund**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts** | **Open Futures Contracts** | **Open Futures Contracts** | **Open Futures Contracts** | **Open Futures Contracts** | **Open Futures Contracts** |
| **Long Futures Contracts** | &nbsp;&nbsp; **Number of**<br> **Contracts**<br>| &nbsp;&nbsp;&nbsp; **Expiration**<br> **Month**<br>| &nbsp;&nbsp; **Notional**<br> **Value**<br>| **Value** | &nbsp;&nbsp; **Unrealized**<br> **Appreciation**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)**<br>|
| **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** |
| U.S. Treasury 2 Year Notes | &nbsp;&nbsp;&nbsp; 3417 | June-2026 | &nbsp;&nbsp;&nbsp; $715087338 | &nbsp;&nbsp;&nbsp; $1186319 | &nbsp;&nbsp;&nbsp; $1186319 |
| U.S. Treasury 5 Year Notes | &nbsp;&nbsp;&nbsp; 1306 | June-2026 | &nbsp;&nbsp;&nbsp; 143843656 | &nbsp;&nbsp;&nbsp; 323836 | &nbsp;&nbsp;&nbsp; 323836 |
| U.S. Treasury Long Bonds | &nbsp;&nbsp;&nbsp; 484 | June-2026 | &nbsp;&nbsp;&nbsp; 57338875 | &nbsp;&nbsp;&nbsp; 718438 | &nbsp;&nbsp;&nbsp; 718438 |
| U.S. Treasury Ultra Bonds | &nbsp;&nbsp;&nbsp; 643 | June-2026 | &nbsp;&nbsp;&nbsp; 78184781 | &nbsp;&nbsp;&nbsp; 1064906 | &nbsp;&nbsp;&nbsp; 1064906 |
| Subtotal—Long Futures Contracts | Subtotal—Long Futures Contracts | Subtotal—Long Futures Contracts | Subtotal—Long Futures Contracts | &nbsp;&nbsp;&nbsp; 3293499 | &nbsp;&nbsp;&nbsp; 3293499 |
| **Short Futures Contracts** |  |  |  |  |  |
| **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** |
| U.S. Treasury 10 Year Notes | &nbsp;&nbsp;&nbsp; 419 | June-2026 | &nbsp;&nbsp;&nbsp; (47687437)<br>| &nbsp;&nbsp;&nbsp; (210200)<br>| &nbsp;&nbsp;&nbsp; (210200)<br>|
| U.S. Treasury 10 Year Ultra Notes | &nbsp;&nbsp;&nbsp; 211 | June-2026 | &nbsp;&nbsp;&nbsp; (24630953)<br>| &nbsp;&nbsp;&nbsp; (132175)<br>| &nbsp;&nbsp;&nbsp; (132175)<br>|
| Subtotal—Short Futures Contracts | Subtotal—Short Futures Contracts | Subtotal—Short Futures Contracts | Subtotal—Short Futures Contracts | &nbsp;&nbsp;&nbsp; (342375)<br>| &nbsp;&nbsp;&nbsp; (342375)<br>|
| Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | &nbsp;&nbsp;&nbsp; $2951124 | &nbsp;&nbsp;&nbsp; $2951124 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** |
| **Settlement** <br>**Date** | **Counterparty** | **Contract to** | **Contract to** | **Contract to** | **Contract to** | &nbsp;&nbsp; **Unrealized** <br>**Appreciation** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)** |
| **Settlement** <br>**Date** | **Counterparty** | **Deliver** | **Deliver** | **Receive** | **Receive** | &nbsp;&nbsp; **Unrealized** <br>**Appreciation** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)** |
| **Currency Risk** |  |  |  |  |  |  |
| 04/28/2026 | Canadian Imperial Bank of Commerce | GBP | 1000000 | USD | 1349725 | &nbsp;&nbsp;&nbsp; $1835 |
| 04/28/2026 | Goldman Sachs International | USD | 597087 | EUR | 505000 | &nbsp;&nbsp;&nbsp; 1220 |
| Subtotal—Appreciation | Subtotal—Appreciation | Subtotal—Appreciation | Subtotal—Appreciation | Subtotal—Appreciation | Subtotal—Appreciation | &nbsp;&nbsp;&nbsp; 3055 |
| **Currency Risk** |  |  |  |  |  |  |
| 04/28/2026 | Canadian Imperial Bank of Commerce | USD | 441090 | EUR | 372000 | &nbsp;&nbsp;&nbsp; (358)<br>|
| 04/28/2026 | Goldman Sachs International | EUR | 2020000 | USD | 2382913 | &nbsp;&nbsp;&nbsp; (10314)<br>|
| 04/28/2026 | Royal Bank of Canada | USD | 1549668 | GBP | 1140000 | &nbsp;&nbsp;&nbsp; (13074)<br>|
| Subtotal—Depreciation | Subtotal—Depreciation | Subtotal—Depreciation | Subtotal—Depreciation | Subtotal—Depreciation | Subtotal—Depreciation | &nbsp;&nbsp;&nbsp; (23746)<br>|
| Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp; $(20691)<br>|

---

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| EUR | —Euro |
| GBP | —British Pound Sterling |
| USD | —U.S. Dollar |

---

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

**30**

**Invesco Corporate Bond Fund**

------

**Statement of Assets and Liabilities**

*February 28, 2026*

---

| | |
|:---|:---|
| **Assets:** |  |
| Investments in unaffiliated securities, at value <br>(Cost $4,007,527,251)\*<br>| &nbsp;&nbsp; $4070660436 |
| Investments in affiliates, at value <br>(Cost $601,949,918)<br>| &nbsp;&nbsp; 600969267 |
| Other investments: |  |
| Variation margin receivable — futures contracts | &nbsp;&nbsp; 1631063 |
| Unrealized appreciation on forward foreign currency <br> contracts outstanding<br>| &nbsp;&nbsp; 3055 |
| Foreign currencies, at value (Cost $19,054) | &nbsp;&nbsp; 19000 |
| Receivable for: |  |
| Investments sold | &nbsp;&nbsp; 181477814 |
| Fund shares sold | &nbsp;&nbsp; 1981817 |
| Dividends | &nbsp;&nbsp; 534463 |
| Interest | &nbsp;&nbsp; 46062166 |
| Investments matured, at value (Cost $428,663) | &nbsp;&nbsp; 46860 |
| Principal paydowns | &nbsp;&nbsp; 11228 |
| Investment for trustee deferred compensation and <br> retirement plans<br>| &nbsp;&nbsp; 225387 |
| Other assets | &nbsp;&nbsp; 82431 |
| Total assets | &nbsp;&nbsp; 4903704987 |
| **Liabilities:** |  |
| Other investments: |  |
| Unrealized depreciation on forward foreign currency <br> contracts outstanding<br>| &nbsp;&nbsp; 23746 |
| Payable for: |  |
| Investments purchased | &nbsp;&nbsp; 193395304 |
| Dividends | &nbsp;&nbsp; 2810108 |
| Fund shares reacquired | &nbsp;&nbsp; 3701324 |
| Amount due to custodian | &nbsp;&nbsp; 14056737 |
| Collateral upon return of securities loaned | &nbsp;&nbsp; 553514091 |
| Accrued fees to affiliates | &nbsp;&nbsp; 1026406 |
| Accrued trustees' and officers' fees and benefits | &nbsp;&nbsp; 4907 |
| Accrued other operating expenses | &nbsp;&nbsp; 356020 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 234728 |
| Total liabilities | &nbsp;&nbsp; 769123371 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $4134581616 |

---

---

| | |
|:---|:---|
| **Net assets consist of:** |  |
| Shares of beneficial interest | &nbsp;&nbsp; $4539658700 |
| Distributable earnings (loss) | &nbsp;&nbsp; (405077084)<br>|
|  | &nbsp;&nbsp; $4134581616 |
| **Net Assets:** | **Net Assets:** |
| Class A | &nbsp;&nbsp; $1134325725 |
| Class C | &nbsp;&nbsp; $26084253 |
| Class R | &nbsp;&nbsp; $20382529 |
| Class Y | &nbsp;&nbsp; $1379332877 |
| Class R5 | &nbsp;&nbsp; $16873082 |
| Class R6 | &nbsp;&nbsp; $1557583150 |
| **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** | **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** |
| Class A | &nbsp;&nbsp; 178617052 |
| Class C | &nbsp;&nbsp; 4083575 |
| Class R | &nbsp;&nbsp; 3208176 |
| Class Y | &nbsp;&nbsp; 216819369 |
| Class R5 | &nbsp;&nbsp; 2654308 |
| Class R6 | &nbsp;&nbsp; 244813909 |
| Class A: |  |
| Net asset value per share | &nbsp;&nbsp; $6.35 |
| Maximum offering price per share <br>(Net asset value of $6.35 ÷ 95.75%)<br>| &nbsp;&nbsp; $6.63 |
| Class C: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $6.39 |
| Class R: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $6.35 |
| Class Y: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $6.36 |
| Class R5: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $6.36 |
| Class R6: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $6.36 |

---

\* At February 28, 2026, securities with an aggregate value of $527,825,484 were on loan to brokers. 

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

**31**

**Invesco Corporate Bond Fund**

------

**Statement of Operations**

*For the year ended February 28, 2026* 

---

| | |
|:---|:---|
| **Investment income:** |  |
| Interest (net of foreign withholding taxes of $1,024) | &nbsp;&nbsp; $212740192 |
| Dividends | &nbsp;&nbsp; 2967866 |
| Dividends from affiliates (includes net securities lending income of $899,869) | &nbsp;&nbsp; 2914839 |
| Total investment income | &nbsp;&nbsp; 218622897 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 10620865 |
| Administrative services fees | &nbsp;&nbsp; 552469 |
| Custodian fees | &nbsp;&nbsp; 103103 |
| Distribution fees: |  |
| Class A | &nbsp;&nbsp; 2768625 |
| Class C | &nbsp;&nbsp; 270570 |
| Class R | &nbsp;&nbsp; 96541 |
| Transfer agent fees — A, C, R and Y | &nbsp;&nbsp; 3734907 |
| Transfer agent fees — R5 | &nbsp;&nbsp; 17525 |
| Transfer agent fees — R6 | &nbsp;&nbsp; 425773 |
| Trustees' and officers' fees and benefits | &nbsp;&nbsp; 52338 |
| Registration and filing fees | &nbsp;&nbsp; 180710 |
| Reports to shareholders | &nbsp;&nbsp; 485057 |
| Professional services fees | &nbsp;&nbsp; 88672 |
| Other | &nbsp;&nbsp; 60017 |
| Total expenses | &nbsp;&nbsp; 19457172 |
| Less: Fees waived, expenses reimbursed and/or expense offset arrangement(s) | &nbsp;&nbsp; (102187)<br>|
| Net expenses | &nbsp;&nbsp; 19354985 |
| Net investment income | &nbsp;&nbsp; 199267912 |
| **Realized and unrealized gain (loss) from:** |  |
| Net realized gain (loss) from: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 24679942 |
| Affiliated investment securities | &nbsp;&nbsp; 1443 |
| Foreign currencies | &nbsp;&nbsp; 65718 |
| Forward foreign currency contracts | &nbsp;&nbsp; (101011)<br>|
| Futures contracts | &nbsp;&nbsp; (7282694)<br>|
| Options written | &nbsp;&nbsp; 52833 |
|  | &nbsp;&nbsp; 17416231 |
| Change in net unrealized appreciation (depreciation) of: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 34803753 |
| Affiliated investment securities | &nbsp;&nbsp; 112649 |
| Foreign currencies | &nbsp;&nbsp; 2254 |
| Forward foreign currency contracts | &nbsp;&nbsp; (20975)<br>|
| Futures contracts | &nbsp;&nbsp; 601013 |
|  | &nbsp;&nbsp; 35498694 |
| Net realized and unrealized gain | &nbsp;&nbsp; 52914925 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $252182837 |

---

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

**32**

**Invesco Corporate Bond Fund**

------

**Statement of Changes in Net Assets**

*For the years ended February 28, 2026 and 2025* 

---

| | | |
|:---|:---|:---|
|  | **2026** | **2025** |
| **Operations:** |  |  |
| Net investment income | &nbsp;&nbsp; $199267912 | &nbsp;&nbsp; $186940248 |
| Net realized gain | &nbsp;&nbsp; 17416231 | &nbsp;&nbsp; 7505765 |
| Change in net unrealized appreciation | &nbsp;&nbsp; 35498694 | &nbsp;&nbsp; 52240005 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 252182837 | &nbsp;&nbsp; 246686018 |
| **Distributions to shareholders from distributable earnings:** |  |  |
| Class A | &nbsp;&nbsp; (55376532)<br>| &nbsp;&nbsp; (55184605)<br>|
| Class C | &nbsp;&nbsp; (1190729)<br>| &nbsp;&nbsp; (1354830)<br>|
| Class R | &nbsp;&nbsp; (914817)<br>| &nbsp;&nbsp; (782507)<br>|
| Class Y | &nbsp;&nbsp; (69865669)<br>| &nbsp;&nbsp; (64847234)<br>|
| Class R5 | &nbsp;&nbsp; (926261)<br>| &nbsp;&nbsp; (959520)<br>|
| Class R6 | &nbsp;&nbsp; (76221422)<br>| &nbsp;&nbsp; (62774024)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (204495430)<br>| &nbsp;&nbsp; (185902720)<br>|
| **Share transactions–net:** |  |  |
| Class A | &nbsp;&nbsp; (939897)<br>| &nbsp;&nbsp; 18814044 |
| Class C | &nbsp;&nbsp; (3996603)<br>| &nbsp;&nbsp; (3176885)<br>|
| Class R | &nbsp;&nbsp; 1678695 | &nbsp;&nbsp; 2946171 |
| Class Y | &nbsp;&nbsp; 33493291 | &nbsp;&nbsp; 436219068 |
| Class R5 | &nbsp;&nbsp; (1126649)<br>| &nbsp;&nbsp; 935737 |
| Class R6 | &nbsp;&nbsp; 257900413 | &nbsp;&nbsp; 182588915 |
| Net increase in net assets resulting from share transactions | &nbsp;&nbsp; 287009250 | &nbsp;&nbsp; 638327050 |
| Net increase in net assets | &nbsp;&nbsp; 334696657 | &nbsp;&nbsp; 699110348 |
| **Net assets:** |  |  |
| Beginning of year | &nbsp;&nbsp; 3799884959 | &nbsp;&nbsp; 3100774611 |
| End of year | &nbsp;&nbsp; $4134581616 | &nbsp;&nbsp; $3799884959 |

---

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

**33**

**Invesco Corporate Bond Fund**

------

**Financial Highlights**

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

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**to average** <br>**net assets**<br>| **Portfolio** <br>**turnover** <sup>(c)</sup> <br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year ended 02/28/26 | $6.28 | $0.30 | $0.08 | $0.38 | $(0.31)<br>| $— | $(0.31)<br>| $6.35 | 6.27<br> %<br>| &nbsp;&nbsp; $1134326 | 0.71<br> %<br>| 0.71<br> %<br>| 4.85<br> %<br>| 219<br> %<br>|
| Year ended 02/28/25 | 6.17 | 0.31 | 0.11 | 0.42 | (0.31)<br>|  | (0.31)<br>| 6.28 | 6.98 | &nbsp;&nbsp; 1123034 | 0.71 | 0.71 | 5.03 | 146 |
| Year ended 02/29/24 | 6.18 | 0.30 | (0.02)<br>| 0.28 | (0.29)<br>|  | (0.29)<br>| 6.17 | 4.72 | &nbsp;&nbsp; 1086043 | 0.75 | 0.75 | 4.89 | 195 |
| Year ended 02/28/23 | 7.15 | 0.25 | (0.98)<br>| (0.73)<br>| (0.24)<br>|  | (0.24)<br>| 6.18 | (10.14)<br>| &nbsp;&nbsp; 1048198 | 0.77 | 0.77 | 3.91 | 171 |
| Year ended 02/28/22 | 7.80 | 0.21 | (0.49)<br>| (0.28)<br>| (0.21)<br>| (0.16)<br>| (0.37)<br>| 7.15 | (3.79)<br>| &nbsp;&nbsp; 1295987 | 0.72 | 0.72 | 2.66 | 133 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year ended 02/28/26 | 6.32 | 0.26 | 0.08 | 0.34 | (0.27)<br>|  | (0.27)<br>| 6.39 | 5.52 <br><sup>(d)</sup><br>| &nbsp;&nbsp; 26084 | 1.43 <br><sup>(d)</sup><br>| 1.43 <br><sup>(d)</sup><br>| 4.13 <br><sup>(d)</sup><br>| 219 |
| Year ended 02/28/25 | 6.22 | 0.27 | 0.10 | 0.37 | (0.27)<br>|  | (0.27)<br>| 6.32 | 6.01 | &nbsp;&nbsp; 29816 | 1.46 | 1.46 | 4.28 | 146 |
| Year ended 02/29/24 | 6.22 | 0.25 | (0.00)<br>| 0.25 | (0.25)<br>|  | (0.25)<br>| 6.22 | 4.11 | &nbsp;&nbsp; 32470 | 1.50 | 1.50 | 4.14 | 195 |
| Year ended 02/28/23 | 7.20 | 0.20 | (0.98)<br>| (0.78)<br>| (0.20)<br>|  | (0.20)<br>| 6.22 | (10.84 )<sup>(d)</sup><br>| &nbsp;&nbsp; 35770 | 1.51 <br><sup>(d)</sup><br>| 1.51 <br><sup>(d)</sup><br>| 3.17 <br><sup>(d)</sup><br>| 171 |
| Year ended 02/28/22 | 7.86 | 0.15 | (0.49)<br>| (0.34)<br>| (0.16)<br>| (0.16)<br>| (0.32)<br>| 7.20 | (4.60)<br>| &nbsp;&nbsp; 51444 | 1.47 | 1.47 | 1.91 | 133 |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year ended 02/28/26 | 6.28 | 0.29 | 0.08 | 0.37 | (0.30)<br>|  | (0.30)<br>| 6.35 | 6.00 | &nbsp;&nbsp; 20383 | 0.96 | 0.96 | 4.60 | 219 |
| Year ended 02/28/25 | 6.18 | 0.30 | 0.10 | 0.40 | (0.30)<br>|  | (0.30)<br>| 6.28 | 6.55 | &nbsp;&nbsp; 18461 | 0.96 | 0.96 | 4.78 | 146 |
| Year ended 02/29/24 | 6.18 | 0.28 | (0.00)<br>| 0.28 | (0.28)<br>|  | (0.28)<br>| 6.18 | 4.62 | &nbsp;&nbsp; 15237 | 1.00 | 1.00 | 4.64 | 195 |
| Year ended 02/28/23 | 7.15 | 0.23 | (0.97)<br>| (0.74)<br>| (0.23)<br>|  | (0.23)<br>| 6.18 | (10.38)<br>| &nbsp;&nbsp; 12401 | 1.02 | 1.02 | 3.66 | 171 |
| Year ended 02/28/22 | 7.81 | 0.19 | (0.49)<br>| (0.30)<br>| (0.20)<br>| (0.16)<br>| (0.36)<br>| 7.15 | (4.16)<br>| &nbsp;&nbsp; 13750 | 0.97 | 0.97 | 2.41 | 133 |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| Year ended 02/28/26 | 6.29 | 0.32 | 0.08 | 0.40 | (0.33)<br>|  | (0.33)<br>| 6.36 | 6.53 | &nbsp;&nbsp; 1379333 | 0.46 | 0.46 | 5.10 | 219 |
| Year ended 02/28/25 | 6.19 | 0.33 | 0.10 | 0.43 | (0.33)<br>|  | (0.33)<br>| 6.29 | 7.07 | &nbsp;&nbsp; 1330961 | 0.46 | 0.46 | 5.28 | 146 |
| Year ended 02/29/24 | 6.19 | 0.31 | (0.00)<br>| 0.31 | (0.31)<br>|  | (0.31)<br>| 6.19 | 5.15 | &nbsp;&nbsp; 870887 | 0.50 | 0.50 | 5.14 | 195 |
| Year ended 02/28/23 | 7.16 | 0.27 | (0.98)<br>| (0.71)<br>| (0.26)<br>|  | (0.26)<br>| 6.19 | (9.89)<br>| &nbsp;&nbsp; 594737 | 0.52 | 0.52 | 4.16 | 171 |
| Year ended 02/28/22 | 7.82 | 0.23 | (0.50)<br>| (0.27)<br>| (0.23)<br>| (0.16)<br>| (0.39)<br>| 7.16 | (3.66)<br>| &nbsp;&nbsp; 576512 | 0.47 | 0.47 | 2.91 | 133 |
| **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** |
| Year ended 02/28/26 | 6.29 | 0.32 | 0.08 | 0.40 | (0.33)<br>|  | (0.33)<br>| 6.36 | 6.58 | &nbsp;&nbsp; 16873 | 0.41 | 0.41 | 5.15 | 219 |
| Year ended 02/28/25 | 6.18 | 0.33 | 0.11 | 0.44 | (0.33)<br>|  | (0.33)<br>| 6.29 | 7.29 | &nbsp;&nbsp; 17795 | 0.41 | 0.41 | 5.33 | 146 |
| Year ended 02/29/24 | 6.18 | 0.32 | (0.01)<br>| 0.31 | (0.31)<br>|  | (0.31)<br>| 6.18 | 5.21 | &nbsp;&nbsp; 16570 | 0.44 | 0.44 | 5.20 | 195 |
| Year ended 02/28/23 | 7.16 | 0.27 | (0.98)<br>| (0.71)<br>| (0.27)<br>|  | (0.27)<br>| 6.18 | (9.96)<br>| &nbsp;&nbsp; 13992 | 0.43 | 0.43 | 4.25 | 171 |
| Year ended 02/28/22 | 7.81 | 0.23 | (0.48)<br>| (0.25)<br>| (0.24)<br>| (0.16)<br>| (0.40)<br>| 7.16 | (3.47)<br>| &nbsp;&nbsp; 14978 | 0.42 | 0.42 | 2.96 | 133 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| Year ended 02/28/26 | 6.29 | 0.33 | 0.08 | 0.41 | (0.34)<br>|  | (0.34)<br>| 6.36 | 6.66 | &nbsp;&nbsp; 1557583 | 0.34 | 0.34 | 5.22 | 219 |
| Year ended 02/28/25 | 6.19 | 0.34 | 0.10 | 0.44 | (0.34)<br>|  | (0.34)<br>| 6.29 | 7.20 | &nbsp;&nbsp; 1279819 | 0.34 | 0.34 | 5.40 | 146 |
| Year ended 02/29/24 | 6.19 | 0.32 | (0.00)<br>| 0.32 | (0.32)<br>|  | (0.32)<br>| 6.19 | 5.28 | &nbsp;&nbsp; 1079568 | 0.37 | 0.37 | 5.27 | 195 |
| Year ended 02/28/23 | 7.16 | 0.28 | (0.98)<br>| (0.70)<br>| (0.27)<br>|  | (0.27)<br>| 6.19 | (9.77)<br>| &nbsp;&nbsp; 840705 | 0.37 | 0.37 | 4.31 | 171 |
| Year ended 02/28/22 | 7.82 | 0.23 | (0.49)<br>| (0.26)<br>| (0.24)<br>| (0.16)<br>| (0.40)<br>| 7.16 | (3.54)<br>| &nbsp;&nbsp; 959566 | 0.35 | 0.35 | 3.03 | 133 |

---

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

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

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

<sup>(d)</sup> The total return, ratios of expenses to average net assets and ratio of net investment income (loss) to average net assets reflect actual 12b-1 fees of 0.97% and 0.99% for the years ended February 28, 2026 and 2023, respectively. 

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

**34**

**Invesco Corporate Bond Fund**

------

**Notes to Financial Statements**

*February 28, 2026*

**NOTE 1—Significant Accounting Policies**

Invesco Corporate Bond Fund (the "Fund") is a series portfolio of AIM Investment Securities Funds (Invesco Investment Securities Funds) (the "Trust"). The Trust is organized as a Delaware statutory trust and is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company authorized to issue an unlimited number of shares of beneficial interest. Information presented in these financial statements pertains only to the Fund. Matters affecting the Fund or each class will be voted on exclusively by the shareholders of the Fund or each class.

The Fund's primary investment objective is to seek to provide current income with preservation of capital. Capital appreciation is a secondary objective that is sought only when consistent with the Fund's primary investment objective.

The Fund currently consists of six different classes of shares: Class A, Class C, Class R, Class Y, Class R5 and Class R6. Class Y shares are available only to certain investors. Class A shares are sold with a front-end sales charge unless certain waiver criteria are met. Under certain circumstances, load waived shares may be subject to contingent deferred sales charges ("CDSC"). Class C shares are sold with a CDSC. Class R, Class Y, Class R5 and Class R6 shares are sold at net asset value. Class C shares held for eight years after purchase are eligible for automatic conversion into Class A shares of the same Fund (the "Conversion Feature"). The automatic conversion pursuant to the Conversion Feature will generally occur at the end of the month following the eighth anniversary after a purchase of Class C shares.

Class R5 shares are closed to new investors.

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

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

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

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

Variable rate senior loan interests are fair valued using quotes provided by an independent pricing service. Quotes provided by the pricing service may reflect appropriate factors such as ratings, tranche type, industry, company performance, spread, individual trading characteristics, institution-size trading in similar groups of securities and other market data.

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

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

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

Swap agreements are fair valued using an evaluated quote, if available, provided by an independent pricing service. Evaluated quotes provided by the pricing service are valued based on a model which may include end-of-day net present values, spreads, ratings, industry, company performance and returns of referenced assets. Centrally cleared swap agreements are valued at the daily settlement price determined by the relevant exchange or clearinghouse.

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

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

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

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

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

**35**

**Invesco Corporate Bond Fund**

------

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

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

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

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

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

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

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

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

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

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

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

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

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual periods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid by jurisdiction, while removing certain disclosure requirements. The Fund did not pay any material income taxes, net of refunds during the period.

**F.** **Expenses –** Fees provided for under the Rule 12b-1 plan of a particular class of the Fund are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses attributable to Class R5 and Class R6 are allocated based on relative net assets of Class R5 and Class R6. Sub-accounting fees attributable to Class R5 are charged to the operations of the class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on the relative value of settled shares.

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

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

**I.** **Segment Reporting** — The Fund represents a single operating segment, in accordance with ASC 280, Segment Reporting. Subject to the oversight and, when applicable, approval of the Board of Trustees, portfolio managers and senior executives at the Adviser act as the Fund's chief operating decision maker ("CODM"), assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's

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**Invesco Corporate Bond Fund**

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long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements.

**J.** **Securities Lending** – The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily by the securities lending provider. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its sponsored agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated, unregistered investment companies that comply with Rule 2a-7 under the 1940 Act and money market funds (collectively, "affiliated money market funds") and is shown as such on the Schedule of Investments. The Fund bears the risk of loss with respect to the investment of collateral. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. When loaning securities, the Fund retains certain benefits of owning the securities, including the economic equivalent of dividends or interest generated by the security. Lending securities entails a risk of loss to the Fund if, and to the extent that, the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower failed to return the securities. The securities loaned are subject to termination at the option of the borrower or the Fund. Upon termination, the borrower will return to the Fund the securities loaned and the Fund will return the collateral. Upon the failure of the borrower to return the securities, collateral may be liquidated and the securities may be purchased on the open market to replace the loaned securities. The Fund could experience delays and costs in gaining access to the collateral and the securities may lose value during the delay which could result in potential losses to the Fund. Some of these losses may be indemnified by the lending agent. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. Dividends received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, are included in *Dividends from affiliates* on the Statement of Operations. The aggregate value of securities out on loan, if any, is shown as a footnote on the Statement of Assets and Liabilities.

The Adviser serves as an affiliated securities lending agent for the Fund. The Bank of New York Mellon also serves as a securities lending agent. To the extent the Fund utilizes the Adviser as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services in a manner consistent with the federal securities laws. For the year ended February 28, 2026, the Fund paid the Adviser fees for securities lending agent services, which were less than $500. Fees paid to the Adviser for securities lending agent services, if any, are included in *Dividends from affiliates* on the Statement of Operations.

**K.** **Foreign Currency Translations** — Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates.

The Fund may invest in foreign securities, which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Foreign taxes, if any, are recorded based on the tax regulations and rates that exist in the foreign markets in which the Fund invests and are shown in the Statement of Operations.

The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar. Currency rates in foreign countries may fluctuate for a number of reasons, including changes in interest rates, political, economic, or social instability and development, and imposition of currency controls. Currency controls in certain foreign jurisdictions may cause the Fund to experience significant delays in its ability to repatriate its assets in U.S. dollars at quoted spot rates, and it is possible that the Fund's ability to convert certain foreign currencies into U.S. dollars may be limited and may occur at discounts to quoted rates. As a result, the value of the Fund's assets and liabilities denominated in such currencies that would ultimately be realized could differ from those reported on the Statement of Assets and Liabilities. Certain foreign companies may be subject to sanctions, embargoes, or other governmental actions that may limit the ability to invest in, receive, hold, or sell the securities of such companies, all of which affect the market and/or credit risk of the investments. 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.

**L.** **Forward Foreign Currency Contracts** — The Fund may engage in foreign currency transactions either on a spot (i.e. for prompt delivery and settlement) basis, or through forward foreign currency contracts, to manage or minimize currency or exchange rate risk.

The Fund may also enter into forward foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security, or the Fund may also enter into forward foreign currency contracts that do not provide for physical exchange of the two currencies on the settlement date, but instead are settled by a single cash payment calculated as the difference between the agreed upon exchange rate and the spot rate at settlement based upon an agreed upon notional amount (non-deliverable forwards).

A forward foreign currency contract is an obligation between two parties ("Counterparties") to purchase or sell a specific currency for an agreed-upon price at a future date. The use of forward foreign currency contracts for hedging does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with forward foreign currency contracts include failure of the Counterparty to meet the terms of the contract and the value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities.

**M.** **Futures Contracts** — The Fund may enter into futures contracts to manage exposure to interest rate, equity and market price movements and/or currency risks. A futures contract is an agreement between Counterparties to purchase or sell a specified underlying security, currency or commodity (or delivery of a cash settlement price, in the case of an index future) for a fixed price at a future date. The Fund currently invests only in exchange-traded futures and they are standardized as to maturity date and underlying instrument or asset. Initial margin deposits required upon entering into futures contracts are satisfied by the segregation of specific securities or cash as collateral at the futures commission merchant (broker). During the period the futures contracts are open, changes in the value of the contracts are recognized as unrealized gains or losses by recalculating the value of the contracts on a daily basis. Subsequent or variation margin payments are received or made depending upon whether unrealized gains or losses are incurred. These amounts are reflected as receivables or payables on the Statement of Assets and Liabilities. When the contracts are closed or expire, the Fund recognizes a realized gain or loss equal to the difference between the proceeds from, or cost of, the closing transaction and the Fund's basis in the contract. The net realized gain (loss) and the change in unrealized gain (loss) on futures contracts held during the period is included on the Statement of Operations. The primary risks associated with futures contracts are market risk and the absence of a liquid secondary market. If the Fund were unable to liquidate a futures contract and/or enter into an offsetting closing transaction, the Fund would

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**Invesco Corporate Bond Fund**

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continue to be subject to market risk with respect to the value of the contracts and continue to be required to maintain the margin deposits on the futures contracts. Futures contracts have minimal Counterparty risk since the exchange's clearinghouse, as Counterparty to all exchange-traded futures, guarantees the futures against default. Risks may exceed amounts recognized in the Statement of Assets and Liabilities.

**N.** **Call Options Purchased and Written** – The Fund may write covered call options to seek to manage risk exposures in the Fund's investment portfolio or to earn premiums and/or buy call options for the purpose of acquiring the underlying reference asset for its portfolio, or on underlying reference assets against which it has written other call options. A covered call option gives the purchaser of such option the right to buy, and the writer the obligation to sell, the underlying security or foreign currency at the stated exercise price during the option period. Options written by the Fund normally will have expiration dates between three and nine months from the date written. The exercise price of a call option may be below, equal to, or above the current market value of the underlying security at the time the option is written.

When the Fund writes a covered call option, an amount equal to the premium received by the Fund is recorded as an asset and an equivalent liability in the Statement of Assets and Liabilities. The amount of the liability is subsequently "marked-to-market" to reflect the current market value of the option written. If a written covered call option expires on the stipulated expiration date, or if the Fund enters into a closing purchase transaction, the Fund realizes a gain (or a loss if the closing purchase transaction exceeds the premium received when the option was written) without regard to any unrealized gain or loss on the underlying security, and the liability related to such option is extinguished. If a written covered call option is exercised, the Fund realizes a gain or a loss from the sale of the underlying security and the proceeds of the sale are increased by the premium originally received. Realized and unrealized gains and losses on call options written are included in the Statement of Operations as Net realized gain (loss) from and Change in net unrealized appreciation (depreciation) of Option contracts written. A risk in writing a covered call option is that the Fund gives up the opportunity for profit if the market price of the security increases and the option is exercised.

When the Fund buys a call option, an amount equal to the premium paid by the Fund is recorded as an investment on the Statement of Assets and Liabilities. The amount of the investment is subsequently "marked-to-market" to reflect the current value of the option purchased. Realized and unrealized gains and losses on call options purchased are included in the Statement of Operations as Net realized gain (loss) from and Change in net unrealized appreciation (depreciation) of Investment securities. A risk in buying an option is that the Fund pays a premium whether or not the option is exercised. In addition, there can be no assurance that a liquid secondary market will exist for any option purchased.

**O.** **Collateral** —To the extent the Fund has designated or segregated a security as collateral and that security is subsequently sold, it is the Fund's practice to replace such collateral no later than the next business day. This practice does not apply to securities pledged as collateral for securities lending transactions.

**P.** **Leverage Risk** — Leverage exists when the Fund can lose more than it originally invests because it purchases or sells an instrument or enters into a transaction without investing an amount equal to the full economic exposure of the instrument or transaction.

**Q.** **Other Risks** - Active trading of portfolio securities may result in added expenses, a lower return and increased tax liability.

Fluctuations in the federal funds and equivalent foreign rates or other changes to monetary policy or regulatory actions may expose fixed income markets to heightened volatility, perhaps suddenly and to a significant degree, and to reduced liquidity for certain fixed income investments, particularly those with longer maturities. Such changes and resulting increased volatility may adversely impact the Fund, including its operations, universe of potential investment options, and return potential. It is difficult to predict the impact of interest rate changes on various markets. In addition, decreases in fixed income dealer market-making capacity may also potentially lead to heightened volatility and reduced liquidity in the fixed income markets. As a result, the value of the Fund's investments and share price may decline. Changes in central bank policies and other governmental actions and political events within the U.S. and abroad may also, among other things, affect investor and consumer expectations and confidence in the financial markets. This could result in higher than normal redemptions by shareholders, which could potentially increase the Fund's portfolio turnover rate and transaction costs.

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

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

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| | |
|:---|:---|
| **Average Daily Net Assets** | **Rate** |
| First $500 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.420% |
| Next $750 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.350% |
| Over $1.25 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.220% |

---

For the year ended February 28, 2026, the effective advisory fee rate incurred by the Fund was 0.27%.

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

The Adviser has agreed, for an indefinite period, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Class A, Class C, Class R, Class Y, Class R5 and Class R6 shares to 1.50%, 2.25%, 1.75%, 1.25%, 1.25% and 1.25%, respectively, of the Fund's average daily net assets (the "boundary limits"). In determining the Adviser's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the total annual fund operating expenses after fee waiver and/or expense reimbursement to exceed the numbers reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses; and (5) expenses that the Fund has incurred but did not actually pay because of an expense offset arrangement. Invesco may amend and/or terminate these boundary limits at any time in its sole discretion and will inform the Board of Trustees of any such changes. The Adviser did not waive fees and/or reimburse expenses during the period under these boundary limits.

Further, the Adviser has contractually agreed, through at least August 31, 2027, to waive the advisory fee payable by the Fund in an amount equal to the advisory fees earned by the Adviser and/or its affiliates on underlying affiliated investments, including 100% of the net advisory fees the Adviser receives from any affiliated money market funds on investments by the Fund of uninvested cash (excluding investments of cash collateral from securities lending) in such affiliated money market funds.

For the year ended February 28, 2026, the Adviser waived advisory fees of $77,349.

The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the year ended February 28, 2026, expenses incurred under the agreement are shown in the Statement of Operations as *Administrative services fees*. Invesco has entered into a sub-administration agreement whereby State Street Bank and Trust Company ("SSB") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, SSB also serves as the Fund's custodian.

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") pursuant to which the Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to the Fund and reimburse IIS for certain expenses incurred by IIS in the course of providing such services. IIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. All fees payable by IIS to

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**Invesco Corporate Bond Fund**

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intermediaries that provide omnibus account services or sub-accounting services are charged back to the Fund, subject to certain limitations approved by the Trust's Board of Trustees. For the year ended February 28, 2026, expenses incurred under the agreement are shown in the Statement of Operations as *Transfer agent fees*.

The Trust has entered into master distribution agreements with Invesco Distributors, Inc.("IDI") to serve as the distributor for the Class A, Class C, Class R, Class Y, Class R5 and Class R6 shares of the Fund. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Class A, Class C and Class R shares (collectively the "Plans"). The Fund, pursuant to the Plans, reimburses IDI for its allocated share of expenses incurred for the period, up to a maximum annual rate of 0.25% of the average daily net assets of Class A shares and up to a maximum annual rate of 1.00% of the average daily net assets of Class C shares. The Fund pursuant to the Class R Plan, pays IDI compensation at the annual rate of 0.50% of the average daily net assets of Class R shares. The fees are accrued daily and paid monthly. Of the Plans payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such classes. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended February 28, 2026, expenses incurred under the Plans are shown in the Statement of Operations as *Distribution fees*.

Front-end sales commissions and CDSC (collectively, the "sales charges") are not recorded as expenses of the Fund. Front-end sales commissions are deducted from proceeds from the sales of Fund shares prior to investment in Class A shares of the Fund. CDSC are deducted from redemption proceeds prior to remittance to the shareholder. During the year ended February 28, 2026, IDI advised the Fund that IDI retained $91,854 in front-end sales commissions from the sale of Class A shares and $23,491 and $2,522 from Class A and Class C shares, respectively, for CDSC imposed upon redemptions by shareholders.

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

**NOTE 3—Additional Valuation Information**

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

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

Level 2 – Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. 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 the Adviser's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

The following is a summary of the tiered valuation input levels, as of February 28, 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.

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| <br>**Investments in Securities** |  |  |  |  |
| U.S. Dollar Denominated Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $3635122840 | &nbsp;&nbsp;&nbsp;&nbsp; $12341167 | &nbsp;&nbsp;&nbsp;&nbsp; $3647464007 |
| U.S. Treasury Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 156767395 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 156767395 |
| Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 127858489 | &nbsp;&nbsp;&nbsp;&nbsp; 18287345 | &nbsp;&nbsp;&nbsp;&nbsp; 146145834 |
| Variable Rate Senior Loan Interests | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 52530988 | &nbsp;&nbsp;&nbsp;&nbsp; 7140882 | &nbsp;&nbsp;&nbsp;&nbsp; 59671870 |
| Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 53040157 | &nbsp;&nbsp;&nbsp;&nbsp; 314150 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 53354307 |
| Exchange-Traded Funds | &nbsp;&nbsp;&nbsp;&nbsp; 28128773 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 28128773 |
| Non-U.S. Dollar Denominated Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5333158 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5333158 |
| Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 720316 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 720316 |
| Municipal Obligations | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 35004 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 35004 |
| Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp; 19326403 | &nbsp;&nbsp;&nbsp;&nbsp; 553514091 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 572840494 |
| Options Purchased | &nbsp;&nbsp;&nbsp;&nbsp; 1168545 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1168545 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp;&nbsp; 101663878 | &nbsp;&nbsp;&nbsp;&nbsp; 4532196431 | &nbsp;&nbsp;&nbsp;&nbsp; 37769394 | &nbsp;&nbsp;&nbsp;&nbsp; 4671629703 |
| **Other Investments - Assets\*** |  |  |  |  |
| Investments Matured | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 46860 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 46860 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; 3293499 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3293499 |
| Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3055 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3055 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; 3293499 | &nbsp;&nbsp;&nbsp;&nbsp; 49915 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3343414 |
| **Other Investments - Liabilities\*** |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; (342375)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (342375)<br>|
| Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (23746)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (23746)<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; (342375)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (23746)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (366121)<br>|
| **Total Other Investments** | &nbsp;&nbsp;&nbsp;&nbsp; 2951124 | &nbsp;&nbsp;&nbsp;&nbsp; 26169 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2977293 |
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $104615002 | &nbsp;&nbsp;&nbsp;&nbsp; $4532222600 | &nbsp;&nbsp;&nbsp;&nbsp; $37769394 | &nbsp;&nbsp;&nbsp;&nbsp; $4674606996 |

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\* Forward foreign currency contracts and futures contracts are valued at unrealized appreciation (depreciation). Investments matured is shown at value.

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**Invesco Corporate Bond Fund**

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**NOTE 4—Derivative Investments**

The Fund may enter into an ISDA Master Agreement under which a fund may trade OTC derivatives. An OTC transaction entered into under an ISDA Master Agreement typically involves a collateral posting arrangement, payment netting provisions and close-out netting provisions. These netting provisions allow for reduction of credit risk through netting of contractual obligations. The enforceability of the netting provisions of the ISDA Master Agreement depends on the governing law of the ISDA Master Agreement, among other factors.

For financial reporting purposes, the Fund does not offset OTC derivative assets or liabilities that are subject to ISDA Master Agreements in the Statement of Assets and Liabilities.

**Value of Derivative Investments at Period-End**

The table below summarizes the value of the Fund's derivative investments, detailed by primary risk exposure, held as of February 28, 2026:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Value** | **Value** | **Value** | **Value** |
| **Derivative Assets** | &nbsp;&nbsp;&nbsp;&nbsp; **Currency** <br>**Risk**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Equity** <br>**Risk**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Interest** <br>**Rate Risk**<br>| **Total** |
| Unrealized appreciation on futures contracts —Exchange-Traded<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $3293499 | &nbsp;&nbsp;&nbsp;&nbsp; $3293499 |
| Unrealized appreciation on forward foreign currency contracts outstanding | &nbsp;&nbsp;&nbsp;&nbsp; 3055 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3055 |
| Options purchased, at value — Exchange-Traded<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1168545 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1168545 |
| Total Derivative Assets | &nbsp;&nbsp;&nbsp;&nbsp; 3055 | &nbsp;&nbsp;&nbsp;&nbsp; 1168545 | &nbsp;&nbsp;&nbsp;&nbsp; 3293499 | &nbsp;&nbsp;&nbsp;&nbsp; 4465099 |
| Derivatives not subject to master netting agreements | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1168545)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3293499)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4462044)<br>|
| Total Derivative Assets subject to master netting agreements | &nbsp;&nbsp;&nbsp;&nbsp; $3055 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $3055 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Value** | **Value** | **Value** |
| **Derivative Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp; **Currency** <br>**Risk**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Interest** <br>**Rate Risk**<br>| **Total** |
| Unrealized depreciation on futures contracts —Exchange-Traded<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(342375)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(342375)<br>|
| Unrealized depreciation on forward foreign currency contracts outstanding | &nbsp;&nbsp;&nbsp;&nbsp; (23746)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (23746)<br>|
| Total Derivative Liabilities | &nbsp;&nbsp;&nbsp;&nbsp; (23746)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (342375)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (366121)<br>|
| Derivatives not subject to master netting agreements | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 342375 | &nbsp;&nbsp;&nbsp;&nbsp; 342375 |
| Total Derivative Liabilities subject to master netting agreements | &nbsp;&nbsp;&nbsp;&nbsp; $(23746)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(23746)<br>|

---

<sup>(a)</sup> The daily variation margin receivable (payable) at period-end is recorded in the Statement of Assets and Liabilities. <br> <sup>(b)</sup> Options purchased, at value as reported in the Schedule of Investments.

**Offsetting Assets and Liabilities**

The table below reflects the Fund's exposure to Counterparties subject to either an ISDA Master Agreement or other agreement for OTC derivative transactions as of February 28, 2026.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Financial** <br>**Derivative** <br>**Assets**<br>| **Financial** <br>**Derivative** <br>**Liabilities**<br>|  | **Collateral** <br>**(Received)/Pledged** | **Collateral** <br>**(Received)/Pledged** |  |
| **Counterparty** | &nbsp;&nbsp; **Forward Foreign** <br>**Currency Contracts**<br>| &nbsp;&nbsp; **Forward Foreign** <br>**Currency Contracts**<br>| &nbsp;&nbsp; **Net Value of** <br>**Derivatives**<br>| **Non-Cash** | **Cash** | &nbsp;&nbsp; **Net** <br>**Amount**<br>|
| Canadian Imperial Bank of Commerce | &nbsp;&nbsp;&nbsp; $1835 | &nbsp;&nbsp;&nbsp; $(358)<br>| &nbsp;&nbsp;&nbsp; $1477 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1477 |
| Goldman Sachs International | &nbsp;&nbsp;&nbsp; 1220 | &nbsp;&nbsp;&nbsp; (10314)<br>| &nbsp;&nbsp;&nbsp; (9094)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (9094)<br>|
| Royal Bank of Canada | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; (13074)<br>| &nbsp;&nbsp;&nbsp; (13074)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (13074)<br>|
| Total | &nbsp;&nbsp;&nbsp; $3055 | &nbsp;&nbsp;&nbsp; $(23746)<br>| &nbsp;&nbsp;&nbsp; $(20691)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(20691)<br>|

---

**Effect of Derivative Investments for the year ended February 28, 2026**

The table below summarizes the gains (losses) on derivative investments, detailed by primary risk exposure, recognized in earnings during the period:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Location of Gain (Loss) on** <br>**Statement of Operations** | **Location of Gain (Loss) on** <br>**Statement of Operations** | **Location of Gain (Loss) on** <br>**Statement of Operations** | **Location of Gain (Loss) on** <br>**Statement of Operations** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Currency** <br>**Risk**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Equity** <br>**Risk**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Interest** <br>**Rate Risk**<br>| **Total** |
| Realized Gain (Loss): |  |  |  |  |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp; $(101011)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp;&nbsp; $(101011)<br>|
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (7282694)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7282694)<br>|
| Options purchased<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; 1200399 | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; 1200399 |
| Options written | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; 52833 | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; 52833 |

---

**40**

**Invesco Corporate Bond Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Location of Gain (Loss) on**<br> **Statement of Operations** | **Location of Gain (Loss) on**<br> **Statement of Operations** | **Location of Gain (Loss) on**<br> **Statement of Operations** | **Location of Gain (Loss) on**<br> **Statement of Operations** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Currency**<br> **Risk**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Equity**<br> **Risk**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Interest**<br> **Rate Risk**<br>| **Total** |
| Change in Net Unrealized Appreciation (Depreciation): |  |  |  |  |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp; $(20975)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp;&nbsp; $(20975)<br>|
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; 601013 | &nbsp;&nbsp;&nbsp;&nbsp; 601013 |
| Options purchased<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; 436436 | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; 436436 |
| Total | &nbsp;&nbsp;&nbsp;&nbsp; $(121986)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $1689668 | &nbsp;&nbsp;&nbsp;&nbsp; $(6681681)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(5113999)<br>|

---

<sup>(a)</sup> Options purchased are included in the net realized gain (loss) from unaffiliated investment securities and the change in net unrealized appreciation (depreciation) of unaffiliated investment securities.

The table below summarizes the average notional value of derivatives held during the period.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Forward** <br>**Foreign Currency** <br>**Contracts**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Futures** <br>**Contracts**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Equity** <br>**Options** <br>**Purchased**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Equity** <br>**Options** <br>**Written**<br>|
| Average notional value | &nbsp;&nbsp;&nbsp;&nbsp; $3764722 | &nbsp;&nbsp;&nbsp;&nbsp; $1264317442 | &nbsp;&nbsp;&nbsp;&nbsp; $54644125 | &nbsp;&nbsp;&nbsp;&nbsp; $14070000 |
| Average contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 82 | &nbsp;&nbsp;&nbsp;&nbsp; 24 |

---

**NOTE 5—Expense Offset Arrangement(s)**

The expense offset arrangement is comprised of transfer agency credits which result from balances in demand deposit accounts used by the transfer agent for clearing shareholder transactions. For the year ended February 28, 2026, the Fund received credits from this arrangement, which resulted in the reduction of the Fund's total expenses of $24,838.

**NOTE 6—Trustees' and Officers' Fees and Benefits**

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

**NOTE 7—Cash Balances**

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

**NOTE 8—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** |
|  | **2026** | **2025** |
| Ordinary income\* | &nbsp;&nbsp; $204495430 | &nbsp;&nbsp;&nbsp;&nbsp; $185902720 |

---

\* Includes short-term capital gain distributions, if any.

---

| | |
|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | **2026** |
| Undistributed ordinary income | &nbsp;&nbsp;&nbsp;&nbsp; $6599626 |
| Net unrealized appreciation — investments | &nbsp;&nbsp;&nbsp;&nbsp; 57874979 |
| Net unrealized appreciation — foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp; 480 |
| Temporary book/tax differences | &nbsp;&nbsp;&nbsp;&nbsp; (125355)<br>|
| Capital loss carryforward | &nbsp;&nbsp;&nbsp;&nbsp; (469426814)<br>|
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp;&nbsp; 4539658700 |
| Total net assets | &nbsp;&nbsp;&nbsp;&nbsp; $4134581616 |

---

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is due to differences in the timing of recognition of gains and losses on investments for tax and book purposes. The Fund's net unrealized appreciation (depreciation) difference is attributable primarily to wash sales, amortization and accretion on debt securities and derivative instruments.

The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Fund's temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits.

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

**41**

**Invesco Corporate Bond Fund**

------

The Fund has a capital loss carryforward as of February 28, 2026, as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** |
| **Expiration** | **Short-Term** | **Long-Term** | **Total** |
| Not subject to expiration | &nbsp;&nbsp;&nbsp;&nbsp; $98185955 | &nbsp;&nbsp;&nbsp;&nbsp; $371240859 | &nbsp;&nbsp;&nbsp;&nbsp; $469426814 |

---

\*

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

**NOTE 9—Investment Transactions**

The aggregate amount of investment securities (other than short-term securities, U.S. Government obligations and money market funds, if any) purchased and sold by the Fund during the year ended February 28, 2026 was $4,768,371,966 and $4,456,180,478, respectively. As of February 28, 2026, the aggregate cost of investments, including any derivatives, on a tax basis listed below includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:

---

| | |
|:---|:---|
| **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** | **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** |
| Aggregate unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $83184371 |
| Aggregate unrealized (depreciation) of investments | &nbsp;&nbsp;&nbsp;&nbsp; (25309392)<br>|
| Net unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $57874979 |

---

Cost of investments for tax purposes is $4,616,732,017.

**NOTE 10—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of amortization and accretion on debt securities, on February 28, 2026, undistributed net investment income was increased by $2,408,169 and undistributed net realized gain (loss) was decreased by $2,408,169. This reclassification had no effect on the net assets or the distributable earnings (loss) of the Fund.

**NOTE 11—Share Information** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended** <br>**February 28, 2026**<sup>(a)</sup>  | **Year ended** <br>**February 28, 2026**<sup>(a)</sup>  | **Year ended** <br>**February 28, 2025** | **Year ended** <br>**February 28, 2025** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 23502926 | &nbsp;&nbsp;&nbsp; $147433641 | &nbsp;&nbsp;&nbsp; 25256890 | &nbsp;&nbsp;&nbsp; $157873190 |
| Class C | &nbsp;&nbsp;&nbsp; 889999 | &nbsp;&nbsp;&nbsp; 5579523 | &nbsp;&nbsp;&nbsp; 1166589 | &nbsp;&nbsp;&nbsp; 7345884 |
| Class R | &nbsp;&nbsp;&nbsp; 931248 | &nbsp;&nbsp;&nbsp; 5832843 | &nbsp;&nbsp;&nbsp; 897709 | &nbsp;&nbsp;&nbsp; 5606519 |
| Class Y | &nbsp;&nbsp;&nbsp; 57656892 | &nbsp;&nbsp;&nbsp; 362058945 | &nbsp;&nbsp;&nbsp; 123000570 | &nbsp;&nbsp;&nbsp; 762005122 |
| Class R5 | &nbsp;&nbsp;&nbsp; 326141 | &nbsp;&nbsp;&nbsp; 2030475 | &nbsp;&nbsp;&nbsp; 588863 | &nbsp;&nbsp;&nbsp; 3679378 |
| Class R6 | &nbsp;&nbsp;&nbsp; 81118689 | &nbsp;&nbsp;&nbsp; 506272953 | &nbsp;&nbsp;&nbsp; 69666236 | &nbsp;&nbsp;&nbsp; 435858212 |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 7638820 | &nbsp;&nbsp;&nbsp; 47910613 | &nbsp;&nbsp;&nbsp; 7598510 | &nbsp;&nbsp;&nbsp; 47420580 |
| Class C | &nbsp;&nbsp;&nbsp; 148253 | &nbsp;&nbsp;&nbsp; 935340 | &nbsp;&nbsp;&nbsp; 167593 | &nbsp;&nbsp;&nbsp; 1052367 |
| Class R | &nbsp;&nbsp;&nbsp; 145110 | &nbsp;&nbsp;&nbsp; 910682 | &nbsp;&nbsp;&nbsp; 124569 | &nbsp;&nbsp;&nbsp; 777889 |
| Class Y | &nbsp;&nbsp;&nbsp; 8284092 | &nbsp;&nbsp;&nbsp; 52038564 | &nbsp;&nbsp;&nbsp; 7693806 | &nbsp;&nbsp;&nbsp; 48129779 |
| Class R5 | &nbsp;&nbsp;&nbsp; 146969 | &nbsp;&nbsp;&nbsp; 922810 | &nbsp;&nbsp;&nbsp; 151805 | &nbsp;&nbsp;&nbsp; 948487 |
| Class R6 | &nbsp;&nbsp;&nbsp; 11193128 | &nbsp;&nbsp;&nbsp; 70357615 | &nbsp;&nbsp;&nbsp; 9134193 | &nbsp;&nbsp;&nbsp; 57125333 |
| **Automatic conversion of Class C shares to Class A shares:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 566781 | &nbsp;&nbsp;&nbsp; 3541973 | &nbsp;&nbsp;&nbsp; 768236 | &nbsp;&nbsp;&nbsp; 4810298 |
| Class C | &nbsp;&nbsp;&nbsp; (563190)<br>| &nbsp;&nbsp;&nbsp; (3541973)<br>| &nbsp;&nbsp;&nbsp; (763254)<br>| &nbsp;&nbsp;&nbsp; (4810298)<br>|
| **Reacquired:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; (31929463)<br>| &nbsp;&nbsp;&nbsp; (199826124)<br>| &nbsp;&nbsp;&nbsp; (30693505)<br>| &nbsp;&nbsp;&nbsp; (191290024)<br>|
| Class C | &nbsp;&nbsp;&nbsp; (1109649)<br>| &nbsp;&nbsp;&nbsp; (6969493)<br>| &nbsp;&nbsp;&nbsp; (1076609)<br>| &nbsp;&nbsp;&nbsp; (6764838)<br>|
| Class R | &nbsp;&nbsp;&nbsp; (806416)<br>| &nbsp;&nbsp;&nbsp; (5064830)<br>| &nbsp;&nbsp;&nbsp; (550343)<br>| &nbsp;&nbsp;&nbsp; (3438237)<br>|
| Class Y | &nbsp;&nbsp;&nbsp; (60679764)<br>| &nbsp;&nbsp;&nbsp; (380604218)<br>| &nbsp;&nbsp;&nbsp; (59916584)<br>| &nbsp;&nbsp;&nbsp; (373915833)<br>|
| Class R5 | &nbsp;&nbsp;&nbsp; (649609)<br>| &nbsp;&nbsp;&nbsp; (4079934)<br>| &nbsp;&nbsp;&nbsp; (590888)<br>| &nbsp;&nbsp;&nbsp; (3692128)<br>|
| Class R6 | &nbsp;&nbsp;&nbsp; (50904942)<br>| &nbsp;&nbsp;&nbsp; (318730155)<br>| &nbsp;&nbsp;&nbsp; (49896202)<br>| &nbsp;&nbsp;&nbsp; (310394630)<br>|
| Net increase in share activity | &nbsp;&nbsp;&nbsp; 45906015 | &nbsp;&nbsp;&nbsp; $287009250 | &nbsp;&nbsp;&nbsp; 102728184 | &nbsp;&nbsp;&nbsp; $638327050 |

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 69% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**42**

**Invesco Corporate Bond Fund**

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Investment Securities Funds (Invesco Investment Securities Funds) and Shareholders of Invesco Corporate Bond Fund

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco Corporate Bond Fund (one of the funds constituting AIM Investment Securities Funds (Invesco Investment Securities Funds), referred to hereafter as the "Fund") as of February 28, 2026, the related statement of operations for the year ended February 28, 2026, the statement of changes in net assets for each of the two years in the period ended February 28, 2026, including the related notes, and the financial highlights for each of the five years in the period ended February 28, 2026 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 28, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended February 28, 2026 and the financial highlights for each of the five years in the period ended February 28, 2026 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026 by correspondence with the custodian, transfer agents, portfolio company investee, agent banks and brokers; when replies were not received from the portfolio company investee and agent banks, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

April 28, 2026

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**43**

**Invesco Corporate Bond Fund**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year-end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended February 28, 2026:

---

| | |
|:---|:---|
| **Federal and State Income Tax** |  |
| Qualified Dividend Income\* | &nbsp;&nbsp; 5.83% |
| Corporate Dividends Received Deduction\* | &nbsp;&nbsp; 4.04% |
| U.S. Treasury Obligations\* | &nbsp;&nbsp; 3.30% |
| Qualified Business Income\* | &nbsp;&nbsp; 0.00% |
| Business Interest Income\* | &nbsp;&nbsp; 91.56% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

**44**

**Invesco Corporate Bond Fund**

------

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

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

Not applicable.

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

Not applicable.

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

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

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

Not applicable.

**45**

**Invesco Corporate Bond Fund**

------

![](imgac2a26261.jpg)

SEC file number(s): 811-05686 and 033-39519

Invesco Distributors, Inc.

VK-CBD-NCSR

------

![](img23e69e851.jpg)

------

**Annual Financial Statements and Other Information**

**February 28, 2026**

**Invesco Global Real Estate Fund**

Nasdaq:

A: AGREX ■ C: CGREX ■ R: RGREX ■ Y: ARGYX ■ R5: IGREX ■ R6: FGREX

------

---

| | |
|:---|:---|
| [2](#xx_d68e9ad2-2bed-4562-917e-158535deb188_SOI-Continued-102_1) | Schedule of Investments |
| [4](#xx_d68e9ad2-2bed-4562-917e-158535deb188_FS-Continued-102_1) | Financial Statements |
| [7](#xx_d68e9ad2-2bed-4562-917e-158535deb188_FS-Continued-102_4) | Financial Highlights |
| [8](#xx_d68e9ad2-2bed-4562-917e-158535deb188_NTF-Continued-102_1) | Notes to Financial Statements |
| [15](#xx_d68e9ad2-2bed-4562-917e-158535deb188_ARS-Continued-102_1) | Report of Independent Registered Public Accounting Firm |
| [16](#xx_d68e9ad2-2bed-4562-917e-158535deb188_TI-Continued-102_1) | Tax Information |
| [17](#xx_d68e9ad2-2bed-4562-917e-158535deb188_OIRSR-Continued-102_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments** 

*February 28, 2026*

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests–100.00%** | **Common Stocks & Other Equity Interests–100.00%** | **Common Stocks & Other Equity Interests–100.00%** |
| **Australia–6.02%** | **Australia–6.02%** | **Australia–6.02%** |
| Dexus | 121013 | &nbsp;&nbsp; $577854 |
| Goodman Group | 157620 | &nbsp;&nbsp; 3242303 |
| NEXTDC Ltd.<sup>(a)</sup>  | 37395 | &nbsp;&nbsp; 369021 |
| Scentre Group | 403023 | &nbsp;&nbsp; 1095514 |
| Stockland | 294441 | &nbsp;&nbsp; 1070765 |
| Vicinity Ltd. | 416419 | &nbsp;&nbsp; 725857 |
|  |  | &nbsp;&nbsp; 7081314 |
| **Belgium–1.29%** | **Belgium–1.29%** | **Belgium–1.29%** |
| Aedifica S.A. | 7125 | &nbsp;&nbsp; 659936 |
| Warehouses De Pauw C.V.A. | 27987 | &nbsp;&nbsp; 859677 |
|  |  | &nbsp;&nbsp; 1519613 |
| **Canada–1.70%** | **Canada–1.70%** | **Canada–1.70%** |
| Canadian Apartment Properties REIT | 23651 | &nbsp;&nbsp; 654366 |
| Chartwell Retirement Residences | 51389 | &nbsp;&nbsp; 837113 |
| First Capital REIT | 32358 | &nbsp;&nbsp; 507414 |
|  |  | &nbsp;&nbsp; 1998893 |
| **France–2.13%** | **France–2.13%** | **France–2.13%** |
| Klepierre S.A. | 18931 | &nbsp;&nbsp; 796684 |
| Unibail-Rodamco-Westfield | 13648 | &nbsp;&nbsp; 1709925 |
|  |  | &nbsp;&nbsp; 2506609 |
| **Germany–2.40%** | **Germany–2.40%** | **Germany–2.40%** |
| Sirius Real Estate Ltd. | 542598 | &nbsp;&nbsp; 814380 |
| TAG Immobilien AG | 35422 | &nbsp;&nbsp; 690917 |
| Vonovia SE | 38830 | &nbsp;&nbsp; 1316628 |
|  |  | &nbsp;&nbsp; 2821925 |
| **Hong Kong–4.01%** | **Hong Kong–4.01%** | **Hong Kong–4.01%** |
| Hongkong Land Holdings Ltd. | 94100 | &nbsp;&nbsp; 814698 |
| Link REIT | 113400 | &nbsp;&nbsp; 560637 |
| Sun Hung Kai Properties Ltd. | 156100 | &nbsp;&nbsp; 2901998 |
| Swire Properties Ltd. | 126400 | &nbsp;&nbsp; 435000 |
|  |  | &nbsp;&nbsp; 4712333 |
| **Japan–9.94%** | **Japan–9.94%** | **Japan–9.94%** |
| Daiwa House REIT Investment Corp. | 1006 | &nbsp;&nbsp; 856646 |
| GLP J-Reit | 1059 | &nbsp;&nbsp; 949653 |
| Invincible Investment Corp. | 1136 | &nbsp;&nbsp; 482377 |
| Japan Metropolitan Fund Investment <br> Corp. | 1251 | &nbsp;&nbsp; 975667 |
| KDX Realty Investment Corp. | 518 | &nbsp;&nbsp; 563852 |
| Mitsubishi Estate Co. Ltd. | 33900 | &nbsp;&nbsp; 1143219 |
| Mitsui Fudosan Accommodations Fund, <br> Inc. | 99 | &nbsp;&nbsp; 87447 |
| Mitsui Fudosan Co. Ltd. | 213800 | &nbsp;&nbsp; 2881985 |
| Nippon Building Fund, Inc. | 1090 | &nbsp;&nbsp; 1014029 |
| Sumitomo Realty & Development Co. <br> Ltd. | 81000 | &nbsp;&nbsp; 2738315 |
|  |  | &nbsp;&nbsp; 11693190 |
| **Netherlands–0.38%** | **Netherlands–0.38%** | **Netherlands–0.38%** |
| CTP N.V.<sup>(b)</sup>  | 20994 | &nbsp;&nbsp; 445776 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Singapore–2.41%** | **Singapore–2.41%** | **Singapore–2.41%** |
| CapitaLand Integrated Commercial Trust | 647056 | &nbsp;&nbsp; $1251853 |
| City Developments Ltd. | 22900 | &nbsp;&nbsp; 177369 |
| Mapletree Pan Asia Commercial Trust | 585900 | &nbsp;&nbsp; 657282 |
| Parkway Life REIT | 118800 | &nbsp;&nbsp; 377607 |
| UOL Group Ltd. | 41400 | &nbsp;&nbsp; 368942 |
|  |  | &nbsp;&nbsp; 2833053 |
| **Spain–0.85%** | **Spain–0.85%** | **Spain–0.85%** |
| Merlin Properties SOCIMI S.A. | 56817 | &nbsp;&nbsp; 1003306 |
| **Sweden–1.53%** | **Sweden–1.53%** | **Sweden–1.53%** |
| Catena AB | 9141 | &nbsp;&nbsp; 503818 |
| Fastighets AB Balder, Class B<sup>(a)</sup>  | 113815 | &nbsp;&nbsp; 855241 |
| Wihlborgs Fastigheter AB | 41617 | &nbsp;&nbsp; 440860 |
|  |  | &nbsp;&nbsp; 1799919 |
| **Switzerland–1.41%** | **Switzerland–1.41%** | **Switzerland–1.41%** |
| PSP Swiss Property AG | 4955 | &nbsp;&nbsp; 1067168 |
| Swiss Prime Site AG | 3057 | &nbsp;&nbsp; 583336 |
|  |  | &nbsp;&nbsp; 1650504 |
| **United Kingdom–3.22%** | **United Kingdom–3.22%** | **United Kingdom–3.22%** |
| Big Yellow Group PLC | 26929 | &nbsp;&nbsp; 375952 |
| British Land Co. PLC (The) | 114926 | &nbsp;&nbsp; 631829 |
| LondonMetric Property PLC | 315933 | &nbsp;&nbsp; 911828 |
| Safestore Holdings PLC | 37107 | &nbsp;&nbsp; 396942 |
| Segro PLC | 129461 | &nbsp;&nbsp; 1465545 |
|  |  | &nbsp;&nbsp; 3782096 |
| **United States–62.71%** | **United States–62.71%** | **United States–62.71%** |
| American Healthcare REIT, Inc.<sup>(c)</sup>  | 37797 | &nbsp;&nbsp; 1974515 |
| American Homes 4 Rent, Class A | 32142 | &nbsp;&nbsp; 964260 |
| Brixmor Property Group, Inc. | 108295 | &nbsp;&nbsp; 3278090 |
| Broadstone Net Lease, Inc. | 71727 | &nbsp;&nbsp; 1390787 |
| BXP, Inc. | 15049 | &nbsp;&nbsp; 866521 |
| Camden Property Trust | 22032 | &nbsp;&nbsp; 2386947 |
| CareTrust REIT, Inc. | 29601 | &nbsp;&nbsp; 1202393 |
| Cousins Properties, Inc. | 45768 | &nbsp;&nbsp; 1059987 |
| CubeSmart | 53172 | &nbsp;&nbsp; 2187496 |
| Digital Realty Trust, Inc. | 29169 | &nbsp;&nbsp; 5168747 |
| EastGroup Properties, Inc. | 12547 | &nbsp;&nbsp; 2463102 |
| Equinix, Inc. | 5360 | &nbsp;&nbsp; 5222034 |
| Essential Properties Realty Trust, Inc.<sup>(c)</sup>  | 35568 | &nbsp;&nbsp; 1207178 |
| Extra Space Storage, Inc. | 20006 | &nbsp;&nbsp; 3021506 |
| First Industrial Realty Trust, Inc. | 49392 | &nbsp;&nbsp; 3118611 |
| Gaming and Leisure Properties, Inc. | 43144 | &nbsp;&nbsp; 2110173 |
| Healthcare Realty Trust, Inc. | 41474 | &nbsp;&nbsp; 765195 |
| Host Hotels & Resorts, Inc. | 43817 | &nbsp;&nbsp; 858375 |
| Iron Mountain, Inc. | 24421 | &nbsp;&nbsp; 2645527 |
| Lamar Advertising Co., Class A | 6206 | &nbsp;&nbsp; 854814 |
| Omega Healthcare Investors, Inc. | 62607 | &nbsp;&nbsp; 3022040 |
| Prologis, Inc. | 46884 | &nbsp;&nbsp; 6684252 |
| Ryman Hospitality Properties, Inc. | 13811 | &nbsp;&nbsp; 1363836 |
| Simon Property Group, Inc. | 20428 | &nbsp;&nbsp; 4164248 |
| Tanger, Inc. | 33686 | &nbsp;&nbsp; 1248403 |
| UDR, Inc. | 65271 | &nbsp;&nbsp; 2447662 |
| Vornado Realty Trust | 22766 | &nbsp;&nbsp; 627886 |

---

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

**2**

**Invesco Global Real Estate Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares** | **Shares** | **Value** |
| **United States–(continued)** | **United States–(continued)** | **United States–(continued)** | **United States–(continued)** |
| W.P. Carey, Inc. | W.P. Carey, Inc. | 39366 | &nbsp;&nbsp; $2938672 |
| Welltower, Inc. | Welltower, Inc. | 41036 | &nbsp;&nbsp; 8499376 |
|  |  |  | &nbsp;&nbsp; 73742633 |
| Total Common Stocks & Other Equity Interests <br> (Cost $94,335,442) | Total Common Stocks & Other Equity Interests <br> (Cost $94,335,442) | Total Common Stocks & Other Equity Interests <br> (Cost $94,335,442) | &nbsp;&nbsp; 117591164 |
| **Money Market Funds–0.11%** | **Money Market Funds–0.11%** | **Money Market Funds–0.11%** | **Money Market Funds–0.11%** |
| Invesco Government & Agency Portfolio, <br> Institutional Class, 3.59%<sup>(d)(e)</sup>  | Invesco Government & Agency Portfolio, <br> Institutional Class, 3.59%<sup>(d)(e)</sup>  | 46603 | &nbsp;&nbsp; 46603 |
| Invesco Treasury Portfolio, Institutional Class, <br> 3.56%<sup>(d)(e)</sup>  | Invesco Treasury Portfolio, Institutional Class, <br> 3.56%<sup>(d)(e)</sup>  | 86548 | &nbsp;&nbsp; 86548 |
| Total Money Market Funds (Cost $133,151) | Total Money Market Funds (Cost $133,151) | Total Money Market Funds (Cost $133,151) | &nbsp;&nbsp; 133151 |
| TOTAL INVESTMENTS IN SECURITIES <br> (excluding Investments purchased with <br> cash collateral from securities on <br> loan)-100.11% (Cost $94,468,593)<br>|  |  | &nbsp;&nbsp; 117724315 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** |
| **Money Market Funds–2.77%** | **Money Market Funds–2.77%** | **Money Market Funds–2.77%** |
| Invesco Private Government Fund, <br> 3.64%<sup>(d)(e)(f)</sup>  | 911683 | &nbsp;&nbsp; $911683 |
| Invesco Private Prime Fund, 3.81%<sup>(d)(e)(f)</sup>  | 2341765 | &nbsp;&nbsp; 2342467 |
| Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $3,254,150) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $3,254,150) | &nbsp;&nbsp; 3254150 |
| TOTAL INVESTMENTS IN SECURITIES—102.88% <br> (Cost $97,722,743) | TOTAL INVESTMENTS IN SECURITIES—102.88% <br> (Cost $97,722,743) | &nbsp;&nbsp; 120978465 |
| OTHER ASSETS LESS LIABILITIES–(2.88)% | OTHER ASSETS LESS LIABILITIES–(2.88)% | &nbsp;&nbsp; (3382331)<br>|
| NET ASSETS–100.00% | NET ASSETS–100.00% | &nbsp;&nbsp; $117596134 |

---

Investment Abbreviations:

REIT – Real Estate Investment Trust

Notes to Schedule of Investments:

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

<sup>(b)</sup> Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at February 28, 2026 was $445,776, which represented less than 1% of the Fund's Net Assets. 

<sup>(c)</sup> All or a portion of this security was out on loan at February 28, 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 fiscal year ended February 28, 2026. 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**February 28, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**February 28, 2026**<br>| **Dividend Income** |
| **Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| Invesco Government & Agency Portfolio, Institutional <br> Class<br>| $546337 | &nbsp;&nbsp; $10114777 | &nbsp;&nbsp; $(10614511) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $46603 | &nbsp;&nbsp; $14143 |
| Invesco Treasury Portfolio, Institutional Class | 1014626 | &nbsp;&nbsp; 18784585 | &nbsp;&nbsp; (19712663) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 86548 | &nbsp;&nbsp; 26020 |
| **Investments Purchased with Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| Invesco Private Government Fund | - | &nbsp;&nbsp; 18933970 | &nbsp;&nbsp; (18022287) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 911683 | &nbsp;&nbsp; 18,401\* |
| Invesco Private Prime Fund | 357698 | &nbsp;&nbsp; 41937917 | &nbsp;&nbsp; (39953575) | &nbsp;&nbsp; - | &nbsp;&nbsp; 427 | &nbsp;&nbsp; 2342467 | &nbsp;&nbsp; 48,737\* |
| Total | $1918661 | &nbsp;&nbsp; $89771249 | &nbsp;&nbsp; $(88303036) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $427 | &nbsp;&nbsp; $3387301 | &nbsp;&nbsp; $107301 |

---

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

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of February 28, 2026.

<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. See Note 1J. 

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

**3**

**Invesco Global Real Estate Fund**

------

**Statement of Assets and Liabilities**

*February 28, 2026*

---

| | |
|:---|:---|
| **Assets:** |  |
| Investments in unaffiliated securities, at value <br>(Cost $94,335,442)\*<br>| &nbsp;&nbsp; $117591164 |
| Investments in affiliated money market funds, at value <br> (Cost $3,387,301)<br>| &nbsp;&nbsp; 3387301 |
| Foreign currencies, at value (Cost $78,844) | &nbsp;&nbsp; 78855 |
| Receivable for: |  |
| Investments sold | &nbsp;&nbsp; 1125064 |
| Fund shares sold | &nbsp;&nbsp; 34336 |
| Dividends | &nbsp;&nbsp; 252643 |
| Investment for trustee deferred compensation and <br> retirement plans<br>| &nbsp;&nbsp; 149839 |
| Other assets | &nbsp;&nbsp; 51773 |
| Total assets | &nbsp;&nbsp; 122670975 |
| **Liabilities:** |  |
| Payable for: |  |
| Investments purchased | &nbsp;&nbsp; 1121559 |
| Dividends | &nbsp;&nbsp; 574 |
| Fund shares reacquired | &nbsp;&nbsp; 325577 |
| Collateral upon return of securities loaned | &nbsp;&nbsp; 3254150 |
| Accrued fees to affiliates | &nbsp;&nbsp; 90475 |
| Accrued trustees' and officers' fees and benefits | &nbsp;&nbsp; 2351 |
| Accrued other operating expenses | &nbsp;&nbsp; 126245 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 153910 |
| Total liabilities | &nbsp;&nbsp; 5074841 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $117596134 |
| **Net assets consist of:** |  |
| Shares of beneficial interest | &nbsp;&nbsp; $106721137 |
| Distributable earnings | &nbsp;&nbsp; 10874997 |
|  | &nbsp;&nbsp; $117596134 |

---

---

| | |
|:---|:---|
| **Net Assets:** | **Net Assets:** |
| Class A | &nbsp;&nbsp; $53258418 |
| Class C | &nbsp;&nbsp; $2657129 |
| Class R | &nbsp;&nbsp; $25586077 |
| Class Y | &nbsp;&nbsp; $16467920 |
| Class R5 | &nbsp;&nbsp; $4502214 |
| Class R6 | &nbsp;&nbsp; $15124376 |
| **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** | **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** |
| Class A | &nbsp;&nbsp; 5237926 |
| Class C | &nbsp;&nbsp; 260844 |
| Class R | &nbsp;&nbsp; 2517076 |
| Class Y | &nbsp;&nbsp; 1622295 |
| Class R5 | &nbsp;&nbsp; 445146 |
| Class R6 | &nbsp;&nbsp; 1496059 |
| Class A: |  |
| Net asset value per share | &nbsp;&nbsp; $10.17 |
| Maximum offering price per share <br>(Net asset value of $10.17 ÷ 94.50%)<br>| &nbsp;&nbsp; $10.76 |
| Class C: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $10.19 |
| Class R: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $10.16 |
| Class Y: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $10.15 |
| Class R5: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $10.11 |
| Class R6: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $10.11 |

---

\* At February 28, 2026, securities with an aggregate value of $3,149,864 were on loan to brokers. 

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

**4**

**Invesco Global Real Estate Fund**

------

**Statement of Operations**

*For the year ended February 28, 2026* 

---

| | |
|:---|:---|
| **Investment income:** |  |
| Dividends (net of foreign withholding taxes of $162,106) | &nbsp;&nbsp; $3935918 |
| Dividends from affiliated money market funds (includes net securities lending income of $2,769) | &nbsp;&nbsp; 42932 |
| Total investment income | &nbsp;&nbsp; 3978850 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 942655 |
| Administrative services fees | &nbsp;&nbsp; 17357 |
| Custodian fees | &nbsp;&nbsp; 17445 |
| Distribution fees: |  |
| Class A | &nbsp;&nbsp; 136816 |
| Class C | &nbsp;&nbsp; 24061 |
| Class R | &nbsp;&nbsp; 107105 |
| Transfer agent fees — A, C, R and Y | &nbsp;&nbsp; 247540 |
| Transfer agent fees — R5 | &nbsp;&nbsp; 4413 |
| Transfer agent fees — R6 | &nbsp;&nbsp; 4559 |
| Trustees' and officers' fees and benefits | &nbsp;&nbsp; 23537 |
| Registration and filing fees | &nbsp;&nbsp; 85061 |
| Reports to shareholders | &nbsp;&nbsp; 45048 |
| Professional services fees | &nbsp;&nbsp; 71427 |
| Other | &nbsp;&nbsp; 64686 |
| Total expenses | &nbsp;&nbsp; 1791710 |
| Less: Fees waived, expenses reimbursed and/or expense offset arrangement(s) | &nbsp;&nbsp; (7798)<br>|
| Net expenses | &nbsp;&nbsp; 1783912 |
| Net investment income | &nbsp;&nbsp; 2194938 |
| **Realized and unrealized gain (loss) from:** |  |
| Net realized gain (loss) from: |  |
| Unaffiliated investment securities (net of foreign taxes of $14) | &nbsp;&nbsp; (1198858)<br>|
| Affiliated investment securities | &nbsp;&nbsp; 427 |
| Foreign currencies | &nbsp;&nbsp; 131124 |
|  | &nbsp;&nbsp; (1067307)<br>|
| Change in net unrealized appreciation of: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 14735531 |
| Foreign currencies | &nbsp;&nbsp; 1066 |
|  | &nbsp;&nbsp; 14736597 |
| Net realized and unrealized gain | &nbsp;&nbsp; 13669290 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $15864228 |

---

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

**5**

**Invesco Global Real Estate Fund**

------

**Statement of Changes in Net Assets**

*For the years ended February 28, 2026 and 2025* 

---

| | | |
|:---|:---|:---|
|  | **2026** | **2025** |
| **Operations:** |  |  |
| Net investment income | &nbsp;&nbsp; $2194938 | &nbsp;&nbsp; $3723710 |
| Net realized gain (loss) | &nbsp;&nbsp; (1067307)<br>| &nbsp;&nbsp; 1669781 |
| Change in net unrealized appreciation | &nbsp;&nbsp; 14736597 | &nbsp;&nbsp; 6840552 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 15864228 | &nbsp;&nbsp; 12234043 |
| **Distributions to shareholders from distributable earnings:** |  |  |
| Class A | &nbsp;&nbsp; (1292797)<br>| &nbsp;&nbsp; (1258018)<br>|
| Class C | &nbsp;&nbsp; (37806)<br>| &nbsp;&nbsp; (31564)<br>|
| Class R | &nbsp;&nbsp; (440268)<br>| &nbsp;&nbsp; (339194)<br>|
| Class Y | &nbsp;&nbsp; (719078)<br>| &nbsp;&nbsp; (690047)<br>|
| Class R5 | &nbsp;&nbsp; (122438)<br>| &nbsp;&nbsp; (155938)<br>|
| Class R6 | &nbsp;&nbsp; (464572)<br>| &nbsp;&nbsp; (489084)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (3076959)<br>| &nbsp;&nbsp; (2963845)<br>|
| **Share transactions–net:** |  |  |
| Class A | &nbsp;&nbsp; (16606765)<br>| &nbsp;&nbsp; (10730633)<br>|
| Class C | &nbsp;&nbsp; (161298)<br>| &nbsp;&nbsp; (769488)<br>|
| Class R | &nbsp;&nbsp; 1891546 | &nbsp;&nbsp; (1353592)<br>|
| Class Y | &nbsp;&nbsp; (16726074)<br>| &nbsp;&nbsp; (5675995)<br>|
| Class R5 | &nbsp;&nbsp; (957073)<br>| &nbsp;&nbsp; (5145913)<br>|
| Class R6 | &nbsp;&nbsp; (6522966)<br>| &nbsp;&nbsp; (1590666)<br>|
| Net increase (decrease) in net assets resulting from share transactions | &nbsp;&nbsp; (39082630)<br>| &nbsp;&nbsp; (25266287)<br>|
| Net increase (decrease) in net assets | &nbsp;&nbsp; (26295361)<br>| &nbsp;&nbsp; (15996089)<br>|
| **Net assets:** |  |  |
| Beginning of year | &nbsp;&nbsp; 143891495 | &nbsp;&nbsp; 159887584 |
| End of year | &nbsp;&nbsp; $117596134 | &nbsp;&nbsp; $143891495 |

---

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

**6**

**Invesco Global Real Estate Fund**

------

**Financial Highlights**

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

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Return of** <br>**capital**<br>| **Total** <br>**distributions**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**to average** <br>**net assets**<br>| **Portfolio** <br>**turnover** <sup>(c)</sup> <br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year ended 02/28/26 | $9.08 | $0.15 | $1.15 | $1.30 | $(0.21)<br>| $— | $— | $(0.21)<br>| $10.17 | 14.69<br> %<br>| $53258 | 1.49<br> %<br>| 1.50<br> %<br>| 1.68<br> %<br>| 76<br> %<br>|
| Year ended 02/28/25 | 8.57 | 0.21 | 0.46 | 0.67 | (0.16)<br>|  |  | (0.16)<br>| 9.08 | 7.88 | 64242 | 1.44 | 1.45 | 2.33 | 130 |
| Year ended 02/29/24 | 8.82 | 0.18 | (0.27)<br>| (0.09)<br>| (0.14)<br>|  | (0.02)<br>| (0.16)<br>| 8.57 | (0.89)<br>| 70881 | 1.42 | 1.42 | 2.14 | 89 |
| Year ended 02/28/23 | 11.63 | 0.17 | (1.87)<br>| (1.70)<br>| (0.21)<br>| (0.90)<br>|  | (1.11)<br>| 8.82 | (14.71)<br>| 82570 | 1.38 | 1.38 | 1.67 | 69 |
| Year ended 02/28/22 | 10.77 | 0.12 | 1.04 | 1.16 | (0.30)<br>|  |  | (0.30)<br>| 11.63 | 10.80 | 107880 | 1.30 | 1.30 | 1.01 | 88 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year ended 02/28/26 | 9.10 | 0.09 | 1.14 | 1.23 | (0.14)<br>|  |  | (0.14)<br>| 10.19 | 13.79 | 2657 | 2.24 | 2.25 | 0.93 | 76 |
| Year ended 02/28/25 | 8.58 | 0.14 | 0.48 | 0.62 | (0.10)<br>|  |  | (0.10)<br>| 9.10 | 7.19 | 2536 | 2.19 | 2.20 | 1.58 | 130 |
| Year ended 02/29/24 | 8.83 | 0.12 | (0.27)<br>| (0.15)<br>| (0.08)<br>|  | (0.02)<br>| (0.10)<br>| 8.58 | (1.66)<br>| 3137 | 2.17 | 2.17 | 1.39 | 89 |
| Year ended 02/28/23 | 11.64 | 0.09 | (1.87)<br>| (1.78)<br>| (0.13)<br>| (0.90)<br>|  | (1.03)<br>| 8.83 | (15.38)<br>| 3619 | 2.13 | 2.13 | 0.92 | 69 |
| Year ended 02/28/22 | 10.78 | 0.03 | 1.05 | 1.08 | (0.22)<br>|  |  | (0.22)<br>| 11.64 | 9.96 | 5057 | 2.05 | 2.05 | 0.26 | 88 |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year ended 02/28/26 | 9.08 | 0.13 | 1.14 | 1.27 | (0.19)<br>|  |  | (0.19)<br>| 10.16 | 14.29 | 25586 | 1.74 | 1.75 | 1.43 | 76 |
| Year ended 02/28/25 | 8.57 | 0.19 | 0.46 | 0.65 | (0.14)<br>|  |  | (0.14)<br>| 9.08 | 7.61 | 20994 | 1.69 | 1.70 | 2.08 | 130 |
| Year ended 02/29/24 | 8.82 | 0.16 | (0.27)<br>| (0.11)<br>| (0.12)<br>|  | (0.02)<br>| (0.14)<br>| 8.57 | (1.15)<br>| 21082 | 1.67 | 1.67 | 1.89 | 89 |
| Year ended 02/28/23 | 11.62 | 0.14 | (1.86)<br>| (1.72)<br>| (0.18)<br>| (0.90)<br>|  | (1.08)<br>| 8.82 | (14.86)<br>| 21290 | 1.63 | 1.63 | 1.42 | 69 |
| Year ended 02/28/22 | 10.77 | 0.09 | 1.03 | 1.12 | (0.27)<br>|  |  | (0.27)<br>| 11.62 | 10.42 | 24519 | 1.55 | 1.55 | 0.76 | 88 |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| Year ended 02/28/26 | 9.07 | 0.18 | 1.14 | 1.32 | (0.24)<br>|  |  | (0.24)<br>| 10.15 | 14.88 | 16468 | 1.24 | 1.25 | 1.93 | 76 |
| Year ended 02/28/25 | 8.56 | 0.23 | 0.47 | 0.70 | (0.19)<br>|  |  | (0.19)<br>| 9.07 | 8.16 | 31041 | 1.19 | 1.20 | 2.58 | 130 |
| Year ended 02/29/24 | 8.81 | 0.20 | (0.26)<br>| (0.06)<br>| (0.17)<br>|  | (0.02)<br>| (0.19)<br>| 8.56 | (0.64)<br>| 34737 | 1.17 | 1.17 | 2.39 | 89 |
| Year ended 02/28/23 | 11.62 | 0.19 | (1.87)<br>| (1.68)<br>| (0.23)<br>| (0.90)<br>|  | (1.13)<br>| 8.81 | (14.50)<br>| 46126 | 1.13 | 1.13 | 1.92 | 69 |
| Year ended 02/28/22 | 10.77 | 0.15 | 1.03 | 1.18 | (0.33)<br>|  |  | (0.33)<br>| 11.62 | 10.98 | 67783 | 1.05 | 1.05 | 1.26 | 88 |
| **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** |
| Year ended 02/28/26 | 9.04 | 0.19 | 1.13 | 1.32 | (0.25)<br>|  |  | (0.25)<br>| 10.11 | 14.97 | 4502 | 1.11 | 1.11 | 2.06 | 76 |
| Year ended 02/28/25 | 8.53 | 0.25 | 0.46 | 0.71 | (0.20)<br>|  |  | (0.20)<br>| 9.04 | 8.37 | 4992 | 1.01 | 1.01 | 2.76 | 130 |
| Year ended 02/29/24 | 8.78 | 0.22 | (0.27)<br>| (0.05)<br>| (0.18)<br>|  | (0.02)<br>| (0.20)<br>| 8.53 | (0.50)<br>| 9681 | 0.98 | 0.98 | 2.58 | 89 |
| Year ended 02/28/23 | 11.58 | 0.22 | (1.87)<br>| (1.65)<br>| (0.25)<br>| (0.90)<br>|  | (1.15)<br>| 8.78 | (14.34)<br>| 16615 | 0.99 | 0.99 | 2.06 | 69 |
| Year ended 02/28/22 | 10.73 | 0.17 | 1.03 | 1.20 | (0.35)<br>|  |  | (0.35)<br>| 11.58 | 11.17 | 87664 | 0.91 | 0.91 | 1.40 | 88 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| Year ended 02/28/26 | 9.03 | 0.19 | 1.14 | 1.33 | (0.25)<br>|  |  | (0.25)<br>| 10.11 | 15.18 | 15124 | 1.04 | 1.04 | 2.13 | 76 |
| Year ended 02/28/25 | 8.52 | 0.25 | 0.47 | 0.72 | (0.21)<br>|  |  | (0.21)<br>| 9.03 | 8.43 | 20086 | 0.95 | 0.95 | 2.82 | 130 |
| Year ended 02/29/24 | 8.78 | 0.22 | (0.28)<br>| (0.06)<br>| (0.18)<br>|  | (0.02)<br>| (0.20)<br>| 8.52 | (0.55)<br>| 20369 | 0.95 | 0.95 | 2.61 | 89 |
| Year ended 02/28/23 | 11.58 | 0.22 | (1.87)<br>| (1.65)<br>| (0.25)<br>| (0.90)<br>|  | (1.15)<br>| 8.78 | (14.27)<br>| 29968 | 0.92 | 0.92 | 2.13 | 69 |
| Year ended 02/28/22 | 10.73 | 0.18 | 1.03 | 1.21 | (0.36)<br>|  |  | (0.36)<br>| 11.58 | 11.26 | 165636 | 0.83 | 0.83 | 1.48 | 88 |

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

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

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

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

**7**

**Invesco Global Real Estate Fund**

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**Notes to Financial Statements**

*February 28, 2026*

**NOTE 1—Significant Accounting Policies**

Invesco Global Real Estate Fund (the "Fund") is a series portfolio of AIM Investment Securities Funds (Invesco Investment Securities Funds) (the "Trust"). The Trust is organized as a Delaware statutory trust and is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company authorized to issue an unlimited number of shares of beneficial interest. Information presented in these financial statements pertains only to the Fund. Matters affecting the Fund or each class will be voted on exclusively by the shareholders of the Fund or each class.

The Fund's investment objective is total return through growth of capital and current income.

The Fund currently consists of six different classes of shares: Class A, Class C, Class R, Class Y, Class R5 and Class R6. Class Y shares are available only to certain investors. Class A shares are sold with a front-end sales charge unless certain waiver criteria are met. Under certain circumstances, load waived shares may be subject to contingent deferred sales charges ("CDSC"). Class C shares are sold with a CDSC. Class R, Class Y, Class R5 and Class R6 shares are sold at net asset value. Class C shares held for eight years after purchase are eligible for automatic conversion into Class A shares of the same Fund (the "Conversion Feature"). The automatic conversion pursuant to the Conversion Feature will generally occur at the end of the month following the eighth anniversary after a purchase of Class C shares.

Class R5 shares are closed to new investors.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

**8**

**Invesco Global Real Estate Fund**

------

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

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

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

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

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

The Fund recharacterizes distributions received from REIT investments based on information provided by the REIT into the following categories: ordinary income, long-term and short-term capital gains, and return of capital. If information is not available on a timely basis from the REIT, the recharacterization will be based on available information which may include the previous year's allocation. If new or additional information becomes available from the REIT at a later date, a recharacterization will be made in the following year. The Fund records as dividend income the amount recharacterized as ordinary income and as realized gain the amount recharacterized as capital gain in the Statement of Operations, and the amount recharacterized as return of capital as a reduction of the cost of the related investment. These recharacterizations are reflected in the accompanying financial statements.

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

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

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

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

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

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual periods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid by jurisdiction, while removing certain disclosure requirements. The Fund did not pay any material income taxes, net of refunds during the period.

**F.** **Expenses** – Fees provided for under the Rule 12b-1 plan of a particular class of the Fund are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses attributable to Class R5 and Class R6 are allocated based on relative net assets of Class R5 and Class R6. Sub-accounting fees attributable to Class R5 are charged to the operations of the class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative net assets.

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

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

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

**J.** **Securities Lending** – The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily by the securities lending provider. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its sponsored agencies. Cash collateral received in connection with these loans is invested in

**9**

**Invesco Global Real Estate Fund**

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short-term money market instruments or affiliated, unregistered investment companies that comply with Rule 2a-7 under the 1940 Act and money market funds (collectively, "affiliated money market funds") and is shown as such on the Schedule of Investments. The Fund bears the risk of loss with respect to the investment of collateral. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. When loaning securities, the Fund retains certain benefits of owning the securities, including the economic equivalent of dividends or interest generated by the security. Lending securities entails a risk of loss to the Fund if, and to the extent that, the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower failed to return the securities. The securities loaned are subject to termination at the option of the borrower or the Fund. Upon termination, the borrower will return to the Fund the securities loaned and the Fund will return the collateral. Upon the failure of the borrower to return the securities, collateral may be liquidated and the securities may be purchased on the open market to replace the loaned securities. The Fund could experience delays and costs in gaining access to the collateral and the securities may lose value during the delay which could result in potential losses to the Fund. Some of these losses may be indemnified by the lending agent. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. Dividends received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, are included in *Dividends from affiliated money market funds* on the Statement of Operations. The aggregate value of securities out on loan, if any, is shown as a footnote on the Statement of Assets and Liabilities.

The Adviser serves as an affiliated securities lending agent for the Fund. The Bank of New York Mellon also serves as a securities lending agent. To the extent the Fund utilizes the Adviser as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services in a manner consistent with the federal securities laws. For the year ended February 28, 2026, the Fund paid the Adviser fees for securities lending agent services, which were less than $500. Fees paid to the Adviser for securities lending agent services, if any, are included in *Dividends from affiliated money market funds* on the Statement of Operations.

**K.** **Foreign Currency Translations** — Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates.

The Fund may invest in foreign securities, which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Foreign taxes, if any, are recorded based on the tax regulations and rates that exist in the foreign markets in which the Fund invests and are shown in the Statement of Operations.

The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar. Currency rates in foreign countries may fluctuate for a number of reasons, including changes in interest rates, political, economic, or social instability and development, and imposition of currency controls. Currency controls in certain foreign jurisdictions may cause the Fund to experience significant delays in its ability to repatriate its assets in U.S. dollars at quoted spot rates, and it is possible that the Fund's ability to convert certain foreign currencies into U.S. dollars may be limited and may occur at discounts to quoted rates. As a result, the value of the Fund's assets and liabilities denominated in such currencies that would ultimately be realized could differ from those reported on the Statement of Assets and Liabilities. Certain foreign companies may be subject to sanctions, embargoes, or other governmental actions that may limit the ability to invest in, receive, hold, or sell the securities of such companies, all of which affect the market and/or credit risk of the investments. 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.

**L.** **Forward Foreign Currency Contracts** — The Fund may engage in foreign currency transactions either on a spot (i.e. for prompt delivery and settlement) basis, or through forward foreign currency contracts, to manage or minimize currency or exchange rate risk.

The Fund may also enter into forward foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security, or the Fund may also enter into forward foreign currency contracts that do not provide for physical exchange of the two currencies on the settlement date, but instead are settled by a single cash payment calculated as the difference between the agreed upon exchange rate and the spot rate at settlement based upon an agreed upon notional amount (non-deliverable forwards).

A forward foreign currency contract is an obligation between two parties ("Counterparties") to purchase or sell a specific currency for an agreed-upon price at a future date. The use of forward foreign currency contracts for hedging does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with forward foreign currency contracts include failure of the Counterparty to meet the terms of the contract and the value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities.

**M.** **Other Risks** - The Fund's investments are concentrated in a comparatively narrow segment of the economy. Consequently, the Fund may tend to be more volatile than other mutual funds, and the value of the Fund's investments may tend to rise and fall more rapidly.

Because the Fund concentrates its assets in the real estate industry, an investment in the Fund will be closely linked to the performance of the real estate markets. Property values may fall due to increasing vacancies or declining rents resulting from economic, legal, cultural or technological developments.

Investments in the securities of non-U.S. issuers involve risks beyond those associated with investments in U.S. securities. Foreign securities may have relatively low market liquidity, greater market volatility, decreased publicly available information and less reliable financial information about issuers, and inconsistent and potentially less stringent accounting, auditing and financial reporting requirements and standards of practice, including recordkeeping standards, comparable to those applicable to domestic issuers. Foreign securities also are subject to the risks of possible seizure, expropriation, nationalization, political or social instability, changes in economic or taxation policies or other adverse political or economic developments (in which the Fund could lose its entire investments in a certain market) and the difficulty of enforcing obligations in other countries, including the possible adoption of foreign governmental restrictions such as exchange controls. Investments in foreign securities also may be subject to dividend withholding or confiscatory taxes, currency blockage and/or transfer restrictions and higher transactional costs. To the extent the Fund invests in securities denominated in foreign currencies, fluctuations in the value of the U.S. dollar relative to the values of other currencies may adversely affect investments in foreign securities and may negatively impact the Fund's returns, unless the Fund has hedged its foreign currency exposure. Currency exchange rates may fluctuate significantly over short periods of time. Currency hedging strategies, if used, may not always be successful. Foreign companies generally may be subject to less stringent regulations than U.S. companies, including financial reporting requirements and auditing and accounting controls, and may therefore be more susceptible to fraud or corruption. There may be less public information available

**10**

**Invesco Global Real Estate Fund**

------

about foreign companies than U.S. companies, making it difficult to evaluate those foreign companies. From time to time, certain companies in which the Fund invests may operate in, or have dealings with, countries subject to sanctions or embargoes imposed by the U.S. government and the United Nations and/or in countries the U.S. government identified as state sponsors of terrorism. One or more of these companies may be subject to constraints under U.S. law or regulations that could negatively affect the company's performance. Additionally, one or more of these companies could suffer damage to its reputation if the market identifies it as a company that invests or deals with countries that the U.S. government identifies as state sponsors of terrorism or is subject to sanctions.

To the extent the Fund invests in emerging markets, emerging markets (also referred to as developing markets) are generally subject to greater market volatility, political, social and economic instability, uncertain trading markets and more governmental limitations on foreign investment than more developed markets.

The Fund may from time to time have a substantial amount of its assets invested in securities of issuers located in a single country or a limited number of countries. Adverse economic, political or social conditions in those countries may therefore have a significant negative impact on the Fund's investment performance.

Active trading of portfolio securities may result in added expenses, a lower return and increased tax liability.

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

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

---

| | |
|:---|:---|
| **Average Daily Net Assets** | **Rate** |
| First $250 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.750% |
| Next $250 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.740% |
| Next $500 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.730% |
| Next $1.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.720% |
| Next $2.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.710% |
| Next $2.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.700% |
| Next $2.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.690% |
| Over $10 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.680% |

---

For the year ended February 28, 2026, the effective advisory fee rate incurred by the Fund was 0.75%.

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

The Adviser has agreed, for an indefinite period, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Class A, Class C, Class R, Class Y, Class R5 and Class R6 shares to 2.00%, 2.75%, 2.25%, 1.75%, 1.75% and 1.75%, respectively, of the Fund's average daily net assets (the "boundary limits"). In determining the Adviser's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the total annual fund operating expenses after fee waiver and/or expense reimbursement to exceed the numbers reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses; and (5) expenses that the Fund has incurred but did not actually pay because of an expense offset arrangement. Invesco may amend and/or terminate these boundary limits at any time in its sole discretion and will inform the Board of Trustees of any such changes. The Adviser did not waive fees and/or reimburse expenses during the period under these boundary limits.

Further, the Adviser has contractually agreed, through at least August 31, 2027, to waive the advisory fee payable by the Fund in an amount equal to the advisory fees earned by the Adviser and/or its affiliates on underlying affiliated investments, including 100% of the net advisory fees the Adviser receives from any affiliated money market funds on investments by the Fund of uninvested cash (excluding investments of cash collateral from securities lending) in such affiliated money market funds.

For the year ended February 28, 2026, the Adviser waived advisory fees of $1,100.

The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the year ended February 28, 2026, expenses incurred under the agreement are shown in the Statement of Operations as *Administrative services fees*. Invesco has entered into a sub-administration agreement whereby State Street Bank and Trust Company ("SSB") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, SSB also serves as the Fund's custodian.

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") pursuant to which the Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to the Fund and reimburse IIS for certain expenses incurred by IIS in the course of providing such services. IIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. All fees payable by IIS to intermediaries that provide omnibus account services or sub-accounting services are charged back to the Fund, subject to certain limitations approved by the Trust's Board of Trustees. For the year ended February 28, 2026, expenses incurred under the agreement are shown in the Statement of Operations as *Transfer agent fees*.

The Trust has entered into master distribution agreements with Invesco Distributors, Inc. ("IDI") to serve as the distributor for the Class A, Class C, Class R, Class Y, Class R5 and Class R6 shares of the Fund. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Class A, Class C and Class R shares (collectively, the "Plans"). The Fund, pursuant to the Plans, pays IDI compensation at the annual rate of 0.25% of the Fund's average daily net assets of Class A shares, 1.00% of the average daily net assets of Class C shares and 0.50% of the average daily net assets of Class R shares. The fees are accrued daily and paid monthly. Of the Plans payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such classes. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended February 28, 2026, expenses incurred under the Plans are shown in the Statement of Operations as *Distribution fees*.

Front-end sales commissions and CDSC (collectively, the "sales charges") are not recorded as expenses of the Fund. Front-end sales commissions are deducted from proceeds from the sales of Fund shares prior to investment in Class A shares of the Fund. CDSC are deducted from redemption proceeds prior to remittance to the shareholder. During the year ended February 28, 2026, IDI advised the Fund that IDI retained $4,229 in front-end sales commissions from the sale of Class A shares and $37 and $33 from Class A and Class C shares, respectively, for CDSC imposed upon redemptions by shareholders.

For the year ended February 28, 2026, the Fund incurred $4,928 in brokerage commissions with Invesco Capital Markets, Inc., an affiliate of the Adviser and IDI, for portfolio transactions executed on behalf of the Fund.

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

**11**

**Invesco Global Real Estate Fund**

------

**NOTE 3—Additional Valuation Information**

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

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

Level 2 – Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. 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 the Adviser's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

The following is a summary of the tiered valuation input levels, as of February 28, 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** |  |  |  |  |
| Australia | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $7081314 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $7081314 |
| Belgium | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1519613 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1519613 |
| Canada | &nbsp;&nbsp;&nbsp;&nbsp; 1998893 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1998893 |
| France | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2506609 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2506609 |
| Germany | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2821925 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2821925 |
| Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4712333 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4712333 |
| Japan | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11693190 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11693190 |
| Netherlands | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 445776 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 445776 |
| Singapore | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2833053 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2833053 |
| Spain | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1003306 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1003306 |
| Sweden | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1799919 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1799919 |
| Switzerland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1650504 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1650504 |
| United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3782096 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3782096 |
| United States | &nbsp;&nbsp;&nbsp;&nbsp; 73742633 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 73742633 |
| Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp; 133151 | &nbsp;&nbsp;&nbsp;&nbsp; 3254150 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3387301 |
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $75874677 | &nbsp;&nbsp;&nbsp;&nbsp; $45103788 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $120978465 |

---

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

The expense offset arrangement is comprised of transfer agency credits which result from balances in demand deposit accounts used by the transfer agent for clearing shareholder transactions. For the year ended February 28, 2026, the Fund received credits from this arrangement, which resulted in the reduction of the Fund's total expenses of $6,698.

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

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

**NOTE 6—Cash Balances**

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

**NOTE 7—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** |
|  | **2026** | **2025** |
| Ordinary income\* | &nbsp;&nbsp; $3076959 | &nbsp;&nbsp;&nbsp;&nbsp; $2963845 |

---

\* Includes short-term capital gain distributions, if any.

**12**

**Invesco Global Real Estate Fund**

------

---

| | |
|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | **2026** |
| Undistributed ordinary income | &nbsp;&nbsp;&nbsp;&nbsp; $1195500 |
| Net unrealized appreciation — investments | &nbsp;&nbsp;&nbsp;&nbsp; 21344090 |
| Net unrealized appreciation — foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp; 751 |
| Temporary book/tax differences | &nbsp;&nbsp;&nbsp;&nbsp; (78472)<br>|
| Capital loss carryforward | &nbsp;&nbsp;&nbsp;&nbsp; (11586872)<br>|
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp;&nbsp; 106721137 |
| Total net assets | &nbsp;&nbsp;&nbsp;&nbsp; $117596134 |

---

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is due to differences in the timing of recognition of gains and losses on investments for tax and book purposes. The Fund's net unrealized appreciation (depreciation) difference is attributable primarily to wash sales and passive foreign investment companies.

The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Fund's temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits.

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

The Fund has a capital loss carryforward as of February 28, 2026, as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** |
| **Expiration** | **Short-Term** | **Long-Term** | **Total** |
| Not subject to expiration | &nbsp;&nbsp;&nbsp;&nbsp; $2944090 | &nbsp;&nbsp;&nbsp;&nbsp; $8642782 | &nbsp;&nbsp;&nbsp;&nbsp; $11586872 |

---

\*

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

**NOTE 8—Investment Transactions**

The aggregate amount of investment securities (other than short-term securities, U.S. Government obligations and money market funds, if any) purchased and sold by the Fund during the year ended February 28, 2026 was $95,022,420 and $132,350,875, respectively. As of February 28, 2026, the aggregate cost of investments, including any derivatives, on a tax basis listed below includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:

---

| | |
|:---|:---|
| **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** | **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** |
| Aggregate unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $22946865 |
| Aggregate unrealized (depreciation) of investments | &nbsp;&nbsp;&nbsp;&nbsp; (1602775)<br>|
| Net unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $21344090 |

---

Cost of investments for tax purposes is $99,634,375.

**NOTE 9—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of passive foreign investment companies, foreign currency transactions and partnerships, on February 28, 2026, undistributed net investment income was increased by $894,777, undistributed net realized gain (loss) was decreased by $898,718 and shares of beneficial interest was increased by $3,941. This reclassification had no effect on the net assets of the Fund.

**NOTE 10—Share Information** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended** <br>**February 28, 2026**<sup>(a)</sup>  | **Year ended** <br>**February 28, 2026**<sup>(a)</sup>  | **Year ended** <br>**February 28, 2025** | **Year ended** <br>**February 28, 2025** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 493153 | &nbsp;&nbsp;&nbsp; $4536903 | &nbsp;&nbsp;&nbsp; 493080 | &nbsp;&nbsp;&nbsp; $4369149 |
| Class C | &nbsp;&nbsp;&nbsp; 68930 | &nbsp;&nbsp;&nbsp; 638559 | &nbsp;&nbsp;&nbsp; 45787 | &nbsp;&nbsp;&nbsp; 409916 |
| Class R | &nbsp;&nbsp;&nbsp; 697118 | &nbsp;&nbsp;&nbsp; 6417953 | &nbsp;&nbsp;&nbsp; 555604 | &nbsp;&nbsp;&nbsp; 4956307 |
| Class Y | &nbsp;&nbsp;&nbsp; 435440 | &nbsp;&nbsp;&nbsp; 3838051 | &nbsp;&nbsp;&nbsp; 675893 | &nbsp;&nbsp;&nbsp; 6004956 |
| Class R5 | &nbsp;&nbsp;&nbsp; 51091 | &nbsp;&nbsp;&nbsp; 465229 | &nbsp;&nbsp;&nbsp; 89492 | &nbsp;&nbsp;&nbsp; 796940 |
| Class R6 | &nbsp;&nbsp;&nbsp; 240002 | &nbsp;&nbsp;&nbsp; 2163458 | &nbsp;&nbsp;&nbsp; 486903 | &nbsp;&nbsp;&nbsp; 4286176 |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 132173 | &nbsp;&nbsp;&nbsp; 1183246 | &nbsp;&nbsp;&nbsp; 129222 | &nbsp;&nbsp;&nbsp; 1162727 |
| Class C | &nbsp;&nbsp;&nbsp; 4074 | &nbsp;&nbsp;&nbsp; 36746 | &nbsp;&nbsp;&nbsp; 3310 | &nbsp;&nbsp;&nbsp; 29846 |
| Class R | &nbsp;&nbsp;&nbsp; 48939 | &nbsp;&nbsp;&nbsp; 440230 | &nbsp;&nbsp;&nbsp; 37670 | &nbsp;&nbsp;&nbsp; 339159 |
| Class Y | &nbsp;&nbsp;&nbsp; 49340 | &nbsp;&nbsp;&nbsp; 441404 | &nbsp;&nbsp;&nbsp; 47535 | &nbsp;&nbsp;&nbsp; 425026 |
| Class R5 | &nbsp;&nbsp;&nbsp; 13581 | &nbsp;&nbsp;&nbsp; 120475 | &nbsp;&nbsp;&nbsp; 14252 | &nbsp;&nbsp;&nbsp; 125821 |
| Class R6 | &nbsp;&nbsp;&nbsp; 50110 | &nbsp;&nbsp;&nbsp; 446646 | &nbsp;&nbsp;&nbsp; 52711 | &nbsp;&nbsp;&nbsp; 471633 |

---

**13**

**Invesco Global Real Estate Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended**<br> **February 28, 2026**<sup>(a)</sup> | **Year ended**<br> **February 28, 2026**<sup>(a)</sup> | **Year ended**<br> **February 28, 2025** | **Year ended**<br> **February 28, 2025** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Automatic conversion of Class C shares to Class A shares:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 35814 | &nbsp;&nbsp;&nbsp; $322905 | &nbsp;&nbsp;&nbsp; 58926 | &nbsp;&nbsp;&nbsp; $517014 |
| Class C | &nbsp;&nbsp;&nbsp; (35732)<br>| &nbsp;&nbsp;&nbsp; (322905)<br>| &nbsp;&nbsp;&nbsp; (58788)<br>| &nbsp;&nbsp;&nbsp; (517014)<br>|
| **Reacquired:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; (2495608)<br>| &nbsp;&nbsp;&nbsp; (22649819)<br>| &nbsp;&nbsp;&nbsp; (1881441)<br>| &nbsp;&nbsp;&nbsp; (16779523)<br>|
| Class C | &nbsp;&nbsp;&nbsp; (55157)<br>| &nbsp;&nbsp;&nbsp; (513698)<br>| &nbsp;&nbsp;&nbsp; (77073)<br>| &nbsp;&nbsp;&nbsp; (692236)<br>|
| Class R | &nbsp;&nbsp;&nbsp; (540915)<br>| &nbsp;&nbsp;&nbsp; (4966637)<br>| &nbsp;&nbsp;&nbsp; (742469)<br>| &nbsp;&nbsp;&nbsp; (6649058)<br>|
| Class Y | &nbsp;&nbsp;&nbsp; (2283758)<br>| &nbsp;&nbsp;&nbsp; (21005529)<br>| &nbsp;&nbsp;&nbsp; (1360710)<br>| &nbsp;&nbsp;&nbsp; (12105977)<br>|
| Class R5 | &nbsp;&nbsp;&nbsp; (171835)<br>| &nbsp;&nbsp;&nbsp; (1542777)<br>| &nbsp;&nbsp;&nbsp; (686214)<br>| &nbsp;&nbsp;&nbsp; (6068674)<br>|
| Class R6 | &nbsp;&nbsp;&nbsp; (1017264)<br>| &nbsp;&nbsp;&nbsp; (9133070)<br>| &nbsp;&nbsp;&nbsp; (706684)<br>| &nbsp;&nbsp;&nbsp; (6348475)<br>|
| Net increase (decrease) in share activity | &nbsp;&nbsp;&nbsp; (4280504)<br>| &nbsp;&nbsp;&nbsp; $(39082630)<br>| &nbsp;&nbsp;&nbsp; (2822994)<br>| &nbsp;&nbsp;&nbsp; $(25266287)<br>|

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 21% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**NOTE 11—Subsequent Event**

The Board of Trustees of the Fund unanimously approved an Agreement and Plan of Reorganization (the "Agreement") pursuant to which the Fund (the "Target Fund") will transfer all of its assets and liabilities to Invesco Global Real Estate Income Fund (the "Acquiring Fund").

The reorganization is expected to be consummated on or about June 5, 2026. Upon closing of the reorganization, shareholders of the Target Fund will receive shares of the Acquiring Fund in exchange for their shares of the Target Fund, and the Target Fund will liquidate and cease operations.

Based on information currently available, the total cost of the Reorganization is estimated to be approximately $337,000, to be shared equally between Invesco and the Target Fund. The estimated cost of the Reorganization includes legal counsel fees, independent accountant fees, expenses related to the printing and mailing of any Information Statement/Prospectus, but do not include any transaction costs arising from the repositioning of portfolio securities which are not estimated to have a material impact.

**14**

**Invesco Global Real Estate Fund**

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Investment Securities Funds (Invesco Investment Securities Funds) and Shareholders of Invesco Global Real Estate Fund

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco Global Real Estate Fund (one of the funds constituting AIM Investment Securities Funds (Invesco Investment Securities Funds), referred to hereafter as the "Fund") as of February 28, 2026, the related statement of operations for the year ended February 28, 2026, the statement of changes in net assets for each of the two years in the period ended February 28, 2026, including the related notes, and the financial highlights for each of the five years in the period ended February 28, 2026 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 28, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended February 28, 2026 and the financial highlights for each of the five years in the period ended February 28, 2026 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026 by correspondence with the custodian, transfer agent and brokers. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

April 28, 2026

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**15**

**Invesco Global Real Estate Fund**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year–end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended February 28, 2026:

---

| | |
|:---|:---|
| **Federal and State Income Tax** |  |
| Qualified Dividend Income\* | &nbsp;&nbsp; 31.57% |
| Corporate Dividends Received Deduction\* | &nbsp;&nbsp; 0.00% |
| U.S. Treasury Obligations\* | &nbsp;&nbsp; 0.00% |
| Qualified Business Income\* | &nbsp;&nbsp; 44.53% |
| Business Interest Income\* | &nbsp;&nbsp; 0.00% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

**16**

**Invesco Global Real Estate Fund**

------

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

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

Not applicable.

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

Not applicable.

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

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

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

Not applicable.

**17**

**Invesco Global Real Estate Fund**

------

![](img23e69e851.jpg)

SEC file number(s): 811-05686 and 033-39519

Invesco Distributors, Inc.

GRE-NCSR

------

![](imgb86b859f1.jpg)

------

**Annual Financial Statements and Other Information**

**February 28, 2026**

**Invesco Government Money Market Fund**

Nasdaq:

Invesco Cash Reserve: AIMXX ■ A: ADAXX ■ AX: ACZXX ■ C: ACNXX ■ CX: ACXXX

■ R: AIRXX ■ Y: AIYXX ■ Investor: INAXX ■ R6: INVXX

------

---

| | |
|:---|:---|
| [2](#xx_f30d3e7d-2827-4128-9980-b0b94b520680_SOI-Continued-450_1) | Schedule of Investments |
| [7](#xx_f30d3e7d-2827-4128-9980-b0b94b520680_FS-Continued-450_1) | Financial Statements |
| [10](#xx_f30d3e7d-2827-4128-9980-b0b94b520680_FS-Continued-450_4) | Financial Highlights |
| [11](#xx_f30d3e7d-2827-4128-9980-b0b94b520680_NTF-Continued-450_1) | Notes to Financial Statements |
| [15](#xx_f30d3e7d-2827-4128-9980-b0b94b520680_RIR-Continued-450_1) | Report of Independent Registered Public Accounting Firm |
| [16](#xx_f30d3e7d-2827-4128-9980-b0b94b520680_TI-Continued-450_1) | Tax Information |
| [17](#xx_f30d3e7d-2827-4128-9980-b0b94b520680_OIRSR-Continued-450_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments** 

*February 28, 2026* 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **U.S. Government Sponsored Agency Securities-21.02%** | **U.S. Government Sponsored Agency Securities-21.02%** | **U.S. Government Sponsored Agency Securities-21.02%** | **U.S. Government Sponsored Agency Securities-21.02%** | **U.S. Government Sponsored Agency Securities-21.02%** |
| **Federal Farm Credit Bank (FFCB)-18.55%** | **Federal Farm Credit Bank (FFCB)-18.55%** | **Federal Farm Credit Bank (FFCB)-18.55%** | **Federal Farm Credit Bank (FFCB)-18.55%** | **Federal Farm Credit Bank (FFCB)-18.55%** |
| Federal Farm Credit Bank (SOFR + 0.08%)<sup>(a)</sup> <br>| 3.76% | 03/04/2026 | $20000 | &nbsp;&nbsp; $20000000 |
| Federal Farm Credit Bank (SOFR + 0.02%)<sup>(a)</sup> <br>| 3.70% | 03/19/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Federal Farm Credit Bank (1 mo. EFFR + 0.10%)<sup>(a)</sup> <br>| 3.74% | 04/01/2026 | 20000 | &nbsp;&nbsp; 20000000 |
| Federal Farm Credit Bank (SOFR + 0.09%)<sup>(a)</sup> <br>| 3.77% | 05/21/2026 | 20000 | &nbsp;&nbsp; 20000000 |
| Federal Farm Credit Bank (SOFR + 0.10%)<sup>(a)</sup> <br>| 3.78% | 06/03/2026 | 10000 | &nbsp;&nbsp; 10000000 |
| Federal Farm Credit Bank (SOFR + 0.10%)<sup>(a)</sup> <br>| 3.78% | 06/18/2026 | 7000 | &nbsp;&nbsp; 7000000 |
| Federal Farm Credit Bank (SOFR + 0.10%)<sup>(a)</sup> <br>| 3.78% | 07/01/2026 | 25000 | &nbsp;&nbsp; 25000000 |
| Federal Farm Credit Bank (SOFR + 0.09%)<sup>(a)</sup> <br>| 3.77% | 08/07/2026 | 10000 | &nbsp;&nbsp; 10000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 08/26/2026 | 2000 | &nbsp;&nbsp; 2000000 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(a)</sup> <br>| 3.81% | 08/28/2026 | 20000 | &nbsp;&nbsp; 20000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 09/04/2026 | 15000 | &nbsp;&nbsp; 15000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 09/09/2026 | 45000 | &nbsp;&nbsp; 45002993 |
| Federal Farm Credit Bank (1 mo. EFFR + 0.05%)<sup>(a)</sup> <br>| 3.69% | 09/17/2026 | 47000 | &nbsp;&nbsp; 47000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 09/25/2026 | 99000 | &nbsp;&nbsp; 99000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 10/01/2026 | 11000 | &nbsp;&nbsp; 11000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 10/15/2026 | 10000 | &nbsp;&nbsp; 10000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 12/02/2026 | 30000 | &nbsp;&nbsp; 30000000 |
| Federal Farm Credit Bank (SOFR + 0.07%)<sup>(a)</sup> <br>| 3.75% | 12/07/2026 | 25000 | &nbsp;&nbsp; 25000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 12/09/2026 | 14000 | &nbsp;&nbsp; 14000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 12/18/2026 | 10000 | &nbsp;&nbsp; 10000000 |
| Federal Farm Credit Bank (SOFR + 0.09%)<sup>(a)</sup> <br>| 3.77% | 12/29/2026 | 40000 | &nbsp;&nbsp; 40000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 12/30/2026 | 20500 | &nbsp;&nbsp; 20500000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 01/14/2027 | 15000 | &nbsp;&nbsp; 15000000 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(a)</sup> <br>| 3.81% | 01/27/2027 | 10000 | &nbsp;&nbsp; 10006634 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(a)</sup> <br>| 3.81% | 02/03/2027 | 15000 | &nbsp;&nbsp; 15000000 |
| Federal Farm Credit Bank (SOFR + 0.12%)<sup>(a)</sup> <br>| 3.80% | 02/10/2027 | 4000 | &nbsp;&nbsp; 4000000 |
| Federal Farm Credit Bank (SOFR + 0.08%)<sup>(a)</sup> <br>| 3.76% | 03/11/2027 | 5000 | &nbsp;&nbsp; 5000000 |
| Federal Farm Credit Bank (SOFR + 0.07%)<sup>(a)</sup> <br>| 3.75% | 03/24/2027 | 41000 | &nbsp;&nbsp; 41000000 |
| Federal Farm Credit Bank (SOFR + 0.07%)<sup>(a)</sup> <br>| 3.75% | 03/26/2027 | 45000 | &nbsp;&nbsp; 45000000 |
| Federal Farm Credit Bank (SOFR + 0.08%)<sup>(a)</sup> <br>| 3.76% | 04/02/2027 | 5000 | &nbsp;&nbsp; 5000000 |
| Federal Farm Credit Bank (SOFR + 0.08%)<sup>(a)</sup> <br>| 3.76% | 04/09/2027 | 25000 | &nbsp;&nbsp; 25000000 |
| Federal Farm Credit Bank (SOFR + 0.12%)<sup>(a)</sup> <br>| 3.80% | 05/06/2027 | 15000 | &nbsp;&nbsp; 15000000 |
| Federal Farm Credit Bank (SOFR + 0.10%)<sup>(a)</sup> <br>| 3.78% | 05/27/2027 | 20000 | &nbsp;&nbsp; 20000000 |
| Federal Farm Credit Bank (SOFR + 0.06%)<sup>(a)</sup> <br>| 3.74% | 06/23/2027 | 35000 | &nbsp;&nbsp; 35000000 |
| Federal Farm Credit Bank (SOFR + 0.10%)<sup>(a)</sup> <br>| 3.78% | 06/29/2027 | 8000 | &nbsp;&nbsp; 8000000 |
| Federal Farm Credit Bank (SOFR + 0.11%)<sup>(a)</sup> <br>| 3.79% | 07/21/2027 | 30000 | &nbsp;&nbsp; 30000000 |
| Federal Farm Credit Bank (SOFR + 0.12%)<sup>(a)</sup> <br>| 3.80% | 07/30/2027 | 75000 | &nbsp;&nbsp; 75000000 |
| Federal Farm Credit Bank (SOFR + 0.12%)<sup>(a)</sup> <br>| 3.80% | 08/27/2027 | 25000 | &nbsp;&nbsp; 25000000 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(a)</sup> <br>| 3.81% | 09/02/2027 | 25000 | &nbsp;&nbsp; 25000000 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(a)</sup> <br>| 3.81% | 09/22/2027 | 10000 | &nbsp;&nbsp; 10000000 |
| Federal Farm Credit Bank (SOFR + 0.09%)<sup>(a)</sup> <br>| 3.77% | 09/28/2027 | 15000 | &nbsp;&nbsp; 15000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 10/01/2027 | 2000 | &nbsp;&nbsp; 2000000 |
| Federal Farm Credit Bank (SOFR + 0.08%)<sup>(a)</sup> <br>| 3.76% | 10/08/2027 | 30000 | &nbsp;&nbsp; 30000000 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(a)</sup> <br>| 3.81% | 11/03/2027 | 11000 | &nbsp;&nbsp; 11000000 |
| Federal Farm Credit Bank (SOFR + 0.10%)<sup>(a)</sup> <br>| 3.78% | 12/01/2027 | 75000 | &nbsp;&nbsp; 75000000 |
| Federal Farm Credit Bank (SOFR + 0.08%)<sup>(a)</sup> <br>| 3.76% | 01/12/2028 | 20000 | &nbsp;&nbsp; 20000000 |
| Federal Farm Credit Bank (SOFR + 0.08%)<sup>(a)</sup> <br>| 3.76% | 01/20/2028 | 40000 | &nbsp;&nbsp; 40000000 |
| Federal Farm Credit Bank (SOFR + 0.09%)<sup>(a)</sup> <br>| 3.77% | 02/02/2028 | 10000 | &nbsp;&nbsp; 10000000 |
| Federal Farm Credit Bank (SOFR + 0.09%)<sup>(a)</sup> <br>| 3.77% | 02/17/2028 | 4000 | &nbsp;&nbsp; 4000000 |
|  |  |  |  | &nbsp;&nbsp; 1165509627 |
| **Federal Home Loan Bank (FHLB)-2.47%** | **Federal Home Loan Bank (FHLB)-2.47%** | **Federal Home Loan Bank (FHLB)-2.47%** | **Federal Home Loan Bank (FHLB)-2.47%** | **Federal Home Loan Bank (FHLB)-2.47%** |
| Federal Home Loan Bank<sup>(b)</sup> <br>| 4.00% | 03/06/2026 | 20000 | &nbsp;&nbsp; 19989139 |
| Federal Home Loan Bank (SOFR)<sup>(a)</sup> <br>| 3.68% | 06/10/2026 | 50000 | &nbsp;&nbsp; 50000000 |

---

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

**2**

**Invesco Government Money Market Fund**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Federal Home Loan Bank (FHLB)-(continued)** | **Federal Home Loan Bank (FHLB)-(continued)** | **Federal Home Loan Bank (FHLB)-(continued)** | **Federal Home Loan Bank (FHLB)-(continued)** | **Federal Home Loan Bank (FHLB)-(continued)** | **Federal Home Loan Bank (FHLB)-(continued)** |
| Federal Home Loan Bank (SOFR + 0.01%)<sup>(a)</sup> <br>| 3.69% | 07/10/2026 |  | $45000 | &nbsp;&nbsp; $45000000 |
| Federal Home Loan Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 09/24/2026 |  | 10000 | &nbsp;&nbsp; 10000000 |
| Federal Home Loan Bank (SOFR + 0.11%)<sup>(a)</sup> <br>| 3.79% | 07/19/2027 |  | 30000 | &nbsp;&nbsp; 30000000 |
|  |  |  |  |  | &nbsp;&nbsp; 154989139 |
| Total U.S. Government Sponsored Agency Securities (Cost $1,320,498,766) | Total U.S. Government Sponsored Agency Securities (Cost $1,320,498,766) | Total U.S. Government Sponsored Agency Securities (Cost $1,320,498,766) | Total U.S. Government Sponsored Agency Securities (Cost $1,320,498,766) |  | &nbsp;&nbsp; 1320498766 |
| **U.S. Treasury Securities-13.17%** | **U.S. Treasury Securities-13.17%** | **U.S. Treasury Securities-13.17%** | **U.S. Treasury Securities-13.17%** | **U.S. Treasury Securities-13.17%** | **U.S. Treasury Securities-13.17%** |
| **U.S. Treasury Bills-10.78%**<sup>(b)</sup> | **U.S. Treasury Bills-10.78%**<sup>(b)</sup> | **U.S. Treasury Bills-10.78%**<sup>(b)</sup> | **U.S. Treasury Bills-10.78%**<sup>(b)</sup> | **U.S. Treasury Bills-10.78%**<sup>(b)</sup> | **U.S. Treasury Bills-10.78%**<sup>(b)</sup> |
| U.S. Treasury Bills | 4.11%-4.12% | 03/19/2026 |  | 45000 | &nbsp;&nbsp; 44911112 |
| U.S. Treasury Bills | 3.65% | 04/14/2026 |  | 85000 | &nbsp;&nbsp; 84622883 |
| U.S. Treasury Bills | 3.64% | 05/14/2026 |  | 75000 | &nbsp;&nbsp; 74444152 |
| U.S. Treasury Bills | 3.64% | 06/16/2026 |  | 125000 | &nbsp;&nbsp; 123664358 |
| U.S. Treasury Bills | 3.64% | 06/23/2026 |  | 50000 | &nbsp;&nbsp; 49430792 |
| U.S. Treasury Bills | 4.07% | 07/09/2026 |  | 70000 | &nbsp;&nbsp; 69008696 |
| U.S. Treasury Bills | 3.91% | 08/06/2026 |  | 40000 | &nbsp;&nbsp; 39338858 |
| U.S. Treasury Bills | 3.58% | 08/13/2026 |  | 145000 | &nbsp;&nbsp; 142660667 |
| U.S. Treasury Bills | 3.56% | 08/20/2026 |  | 50000 | &nbsp;&nbsp; 49163889 |
|  |  |  |  |  | &nbsp;&nbsp; 677245407 |
| **U.S. Treasury Floating Rate Notes-0.56%** | **U.S. Treasury Floating Rate Notes-0.56%** | **U.S. Treasury Floating Rate Notes-0.56%** | **U.S. Treasury Floating Rate Notes-0.56%** | **U.S. Treasury Floating Rate Notes-0.56%** | **U.S. Treasury Floating Rate Notes-0.56%** |
| U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + <br> 0.16%)<sup>(a)</sup> <br>| 3.80% | 04/30/2027 |  | 35000 | &nbsp;&nbsp; 35005694 |
| **U.S. Treasury Notes-1.83%** | **U.S. Treasury Notes-1.83%** | **U.S. Treasury Notes-1.83%** | **U.S. Treasury Notes-1.83%** | **U.S. Treasury Notes-1.83%** | **U.S. Treasury Notes-1.83%** |
| U.S. Treasury Notes | 4.63% | 06/30/2026 |  | 65000 | &nbsp;&nbsp; 65145933 |
| U.S. Treasury Notes | 4.13% | 02/28/2027 |  | 50000 | &nbsp;&nbsp; 50280859 |
|  |  |  |  |  | &nbsp;&nbsp; 115426792 |
| Total U.S. Treasury Securities (Cost $827,677,893) | Total U.S. Treasury Securities (Cost $827,677,893) | Total U.S. Treasury Securities (Cost $827,677,893) | Total U.S. Treasury Securities (Cost $827,677,893) |  | &nbsp;&nbsp; 827677893 |
| **U.S. Government Sponsored Agency Mortgage-Backed Securities-4.79%** | **U.S. Government Sponsored Agency Mortgage-Backed Securities-4.79%** | **U.S. Government Sponsored Agency Mortgage-Backed Securities-4.79%** | **U.S. Government Sponsored Agency Mortgage-Backed Securities-4.79%** | **U.S. Government Sponsored Agency Mortgage-Backed Securities-4.79%** | **U.S. Government Sponsored Agency Mortgage-Backed Securities-4.79%** |
| **Federal Home Loan Mortgage Corp. (FHLMC)-2.75%** | **Federal Home Loan Mortgage Corp. (FHLMC)-2.75%** | **Federal Home Loan Mortgage Corp. (FHLMC)-2.75%** | **Federal Home Loan Mortgage Corp. (FHLMC)-2.75%** | **Federal Home Loan Mortgage Corp. (FHLMC)-2.75%** | **Federal Home Loan Mortgage Corp. (FHLMC)-2.75%** |
| Federal Home Loan Mortgage Corp. (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 09/04/2026 |  | 40000 | &nbsp;&nbsp; 40000000 |
| Federal Home Loan Mortgage Corp. (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 10/16/2026 |  | 20000 | &nbsp;&nbsp; 20000000 |
| Federal Home Loan Mortgage Corp. (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 10/29/2026 |  | 10000 | &nbsp;&nbsp; 10000000 |
| Federal Home Loan Mortgage Corp. (SOFR + 0.13%)<sup>(a)</sup> <br>| 3.81% | 04/23/2027 |  | 25000 | &nbsp;&nbsp; 25000000 |
| Federal Home Loan Mortgage Corp. (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 09/22/2027 |  | 9000 | &nbsp;&nbsp; 9000000 |
| Federal Home Loan Mortgage Corp. (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 10/06/2027 |  | 44000 | &nbsp;&nbsp; 44000000 |
| Federal Home Loan Mortgage Corp. (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 10/14/2027 |  | 25000 | &nbsp;&nbsp; 25000000 |
|  |  |  |  |  | &nbsp;&nbsp; 173000000 |
| **Federal National Mortgage Association (FNMA)-2.04%** | **Federal National Mortgage Association (FNMA)-2.04%** | **Federal National Mortgage Association (FNMA)-2.04%** | **Federal National Mortgage Association (FNMA)-2.04%** | **Federal National Mortgage Association (FNMA)-2.04%** | **Federal National Mortgage Association (FNMA)-2.04%** |
| Federal National Mortgage Association (SOFR + 0.10%)<sup>(a)</sup> <br>| 3.78% | 06/18/2026 |  | 25000 | &nbsp;&nbsp; 25000000 |
| Federal National Mortgage Association (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 08/21/2026 |  | 23000 | &nbsp;&nbsp; 23000000 |
| Federal National Mortgage Association (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 09/11/2026 |  | 6000 | &nbsp;&nbsp; 6000000 |
| Federal National Mortgage Association (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 12/11/2026 |  | 16000 | &nbsp;&nbsp; 16000000 |
| Federal National Mortgage Association (SOFR + 0.08%)<sup>(a)</sup> <br>| 3.76% | 01/07/2028 |  | 20000 | &nbsp;&nbsp; 20000000 |
| Federal National Mortgage Association (SOFR + 0.09%)<sup>(a)</sup> <br>| 3.77% | 02/02/2028 |  | 38000 | &nbsp;&nbsp; 38000000 |
|  |  |  |  |  | &nbsp;&nbsp; 128000000 |
| Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $301,000,000) | Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $301,000,000) | Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $301,000,000) | Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $301,000,000) |  | &nbsp;&nbsp; 301000000 |
| TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-38.98% <br>(Cost $2,449,176,659) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-38.98% <br>(Cost $2,449,176,659) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-38.98% <br>(Cost $2,449,176,659) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-38.98% <br>(Cost $2,449,176,659) |  | &nbsp;&nbsp; 2449176659 |
|  |  |  | &nbsp;&nbsp; **Repurchase**<br> **Amount** | &nbsp;&nbsp; **Repurchase**<br> **Amount** |  |
| **Repurchase Agreements-60.43%**<sup>(c)</sup>  | **Repurchase Agreements-60.43%**<sup>(c)</sup>  | **Repurchase Agreements-60.43%**<sup>(c)</sup>  | **Repurchase Agreements-60.43%**<sup>(c)</sup>  | **Repurchase Agreements-60.43%**<sup>(c)</sup>  | **Repurchase Agreements-60.43%**<sup>(c)</sup>  |
| Banco Santander, joint agreement dated 02/27/2026, aggregate maturing value of <br> $1,000,306,667 (collateralized by agency mortgage-backed securities valued at <br> $1,020,312,902; 1.66% - 8.50%; 08/15/2026 - 03/15/2067)<br>| 3.68% | 03/02/2026 |  | 75023000 | &nbsp;&nbsp; 75000000 |

---

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

**3**

**Invesco Government Money Market Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Repurchase**<br> **Amount** | **Value** |
| Bank of Montreal, joint term agreement dated 02/23/2026, aggregate maturing <br> value of $1,001,431,111 (collateralized by U.S. Treasury obligations valued at <br> $1,020,000,002; 1.25% - 5.00%; 11/30/2026 - 08/15/2055)<sup>(d)</sup> <br>| 3.68% | 03/09/2026 | $100143111 | &nbsp;&nbsp; $100000000 |
| Bank of Montreal, joint term agreement dated 02/24/2026, aggregate maturing <br> value of $1,350,968,625 (collateralized by U.S. Treasury obligations valued at <br> $1,377,000,000; 0.00% - 5.00%; 05/07/2026 - 11/15/2055)<br>| 3.69% | 03/03/2026 | 150107625 | &nbsp;&nbsp; 150000000 |
| Bank of Nova Scotia, joint agreement dated 02/27/2026, aggregate maturing value <br> of $1,000,306,667 (collateralized by agency mortgage-backed securities valued <br> at $1,020,000,000; 1.50% - 7.00%; 03/01/2027 - 10/20/2065)<br>| 3.68% | 03/02/2026 | 300092000 | &nbsp;&nbsp; 300000000 |
| BMO Capital Markets Corp., joint term agreement dated 02/19/2026, aggregate <br> maturing value of $500,668,056 (collateralized by agency mortgage-backed <br> securities valued at $510,000,001; 4.50% - 5.50%; 03/01/2055 - <br> 03/01/2056)<sup>(d)</sup> <br>| 3.70% | 03/04/2026 | 25033403 | &nbsp;&nbsp; 25000000 |
| BMO Capital Markets Corp., joint term agreement dated 02/27/2026, aggregate <br> maturing value of $1,505,874,167 (collateralized by agency mortgage-backed <br> securities valued at $1,530,000,003; 2.50% - 7.00%; 12/20/2038 - <br> 05/20/2075)<sup>(d)</sup> <br>| 3.71% | 04/06/2026 | 80313289 | &nbsp;&nbsp; 80000000 |
| BNP Paribas Securities Corp., joint term agreement dated 07/10/2025, aggregate <br> maturing value of $2,500,785,419 (collateralized by agency mortgage-backed <br> securities, U.S. government sponsored agency obligations and U.S. Treasury <br> obligations valued at $2,550,000,000; 0.00% - 8.00%; 03/17/2026 - <br> 08/20/2065)<sup>(d)(e)</sup> <br>| 3.77% | 03/02/2026 | 100031417 | &nbsp;&nbsp; 100000000 |
| BNP Paribas Securities Corp., joint term agreement dated 07/28/2025, aggregate <br> maturing value of $2,000,628,333 (collateralized by agency mortgage-backed <br> securities, a U.S. government sponsored agency obligation and U.S. Treasury <br> obligations valued at $2,040,000,000; 0.00% - 7.50%; 04/25/2026 - <br> 10/20/2065)<sup>(d)(e)</sup> <br>| 3.77% | 03/02/2026 | 175054979 | &nbsp;&nbsp; 175000000 |
| BNP Paribas Securities Corp., joint term agreement dated 08/20/2025, aggregate <br> maturing value of $4,143,991,111 (collateralized by U.S. Treasury obligations <br> valued at $4,080,000,210; 0.00% - 6.63%; 03/12/2026 - 02/15/2056)<sup>(d)</sup> <br>| 3.88% | 07/20/2026 | 186479600 | &nbsp;&nbsp; 180000000 |
| BofA Securities, Inc., joint term agreement dated 07/28/2025, aggregate maturing <br> value of $1,750,549,792 (collateralized by U.S. Treasury obligations valued at <br> $1,785,000,089; 0.00% - 6.25%; 02/28/2026 - 08/15/2055)<sup>(d)(e)</sup> <br>| 3.77% | 03/02/2026 | 60018850 | &nbsp;&nbsp; 60000000 |
| BofA Securities, Inc., joint term agreement dated 07/29/2025, aggregate maturing <br> value of $1,000,315,834 (collateralized by agency mortgage-backed securities <br> valued at $1,020,000,006; 1.50% - 6.00%; 03/25/2028 - 03/20/2073)<sup>(d)(e)</sup> <br>| 3.79% | 03/02/2026 | 60018950 | &nbsp;&nbsp; 60000000 |
| Fixed Income Clearing Corp. - Bank of New York Mellon (The), joint agreement dated <br> 02/27/2026, aggregate maturing value of $6,501,987,917 (collateralized by <br> U.S. Treasury obligations valued at $6,630,000,183; 0.00% - 4.88%; <br> 04/09/2026 - 08/15/2053)<br>| 3.67% | 03/02/2026 | 375114688 | &nbsp;&nbsp; 375000000 |
| Fixed Income Clearing Corp. - ING Financial Markets, LLC, joint agreement dated <br> 02/27/2026, aggregate maturing value of $3,000,917,500 (collateralized by <br> U.S. Treasury obligations valued at $3,060,000,073; 0.00% - 4.63%; <br> 03/03/2026 - 08/15/2052)<br>| 3.67% | 03/02/2026 | 50015292 | &nbsp;&nbsp; 50000000 |
| Fixed Income Clearing Corp. - State Street Bank, joint agreement dated 02/27/2026, <br> aggregate maturing value of $6,251,911,458 (collateralized by U.S. Treasury <br> obligations valued at $6,375,000,337; 2.00% - 5.00%; 11/15/2041 - <br> 11/15/2049)<br>| 3.67% | 03/02/2026 | 300091750 | &nbsp;&nbsp; 300000000 |
| Fixed Income Clearing Corp. - Wells Fargo Bank, N.A., joint agreement dated <br> 02/27/2026, aggregate maturing value of $2,000,611,667 (collateralized by <br> U.S. Treasury obligations valued at $2,040,000,158; 1.75% - 4.88%; <br> 05/15/2028 - 05/15/2055)<br>| 3.67% | 03/02/2026 | 300091750 | &nbsp;&nbsp; 300000000 |
| Fixed Income Clearing Corp. - Wells Fargo Bank, N.A., joint term agreement dated <br> 01/06/2026, aggregate maturing value of $560,057,089 (collateralized by <br> U.S. Treasury obligations valued at $571,200,101; 2.88% - 5.00%; <br> 05/15/2034 - 08/15/2054)<sup>(f)</sup> <br>| 3.67% | 07/01/2026 | 30003058 | &nbsp;&nbsp; 30000000 |
| Fixed Income Clearing Corp. - Wells Fargo Bank, N.A., joint term agreement dated <br> 01/08/2026, aggregate maturing value of $700,071,361 (collateralized by <br> U.S. Treasury obligations valued at $714,000,128; 2.25% - 4.75%; <br> 08/15/2040 - 05/15/2053)<sup>(f)</sup> <br>| 3.67% | 07/01/2026 | 35003568 | &nbsp;&nbsp; 35000000 |
| Fixed Income Clearing Corp. - Wells Fargo Bank, N.A., joint term agreement dated <br> 02/24/2026, aggregate maturing value of $1,000,101,389 (collateralized by <br> U.S. Treasury obligations valued at $1,020,000,222; 2.88% - 5.00%; <br> 02/15/2036 - 05/15/2055)<sup>(f)</sup> <br>| 3.65% | 03/03/2026 | 10001014 | &nbsp;&nbsp; 10000000 |
| Fixed Income Clearing Corp. - Wells Fargo Bank, N.A., joint term agreement dated <br> 02/26/2026, aggregate maturing value of $700,072,139 (collateralized by <br> U.S. Treasury obligations valued at $714,000,333; 4.63% - 5.00%; <br> 09/30/2028 - 05/15/2055)<sup>(f)</sup> <br>| 3.71% | 03/12/2026 | 35003607 | &nbsp;&nbsp; 35000000 |

---

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

**4**

**Invesco Government Money Market Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Repurchase**<br> **Amount** | **Value** |
| Fixed Income Clearing Corp. - Wells Fargo Bank, N.A., joint term agreement dated <br> 02/26/2026, aggregate maturing value of $700,217,000 (collateralized by <br> U.S. Treasury obligations valued at $714,000,294; 1.25% - 5.00%; <br> 09/30/2028 - 08/15/2054)<sup>(g)</sup> <br>| 3.72% | 03/16/2026 | $35010850 | &nbsp;&nbsp; $35000000 |
| J.P. Morgan Securities LLC, joint open agreement dated 02/13/2026 (collateralized <br> by agency mortgage-backed securities valued at $510,000,000; 1.25% - 6.00%; <br> 12/25/2030 - 09/20/2065)<sup>(h)</sup> <br>| 3.71% | 03/02/2026 | 40012367 | &nbsp;&nbsp; 40000000 |
| Metropolitan Life Insurance Co., joint term agreement dated 02/25/2026, aggregate <br> maturing value of $350,261,588 (collateralized by U.S. Treasury obligations <br> valued at $360,626,178; 0.00% - 3.88%; 07/31/2027 - 05/15/2046)<br>| 3.70% | 03/04/2026 | 25020238 | &nbsp;&nbsp; 25002250 |
| Mitsubishi UFJ Trust & Banking Corp., joint term agreement dated 02/25/2026, <br> aggregate maturing value of $2,147,423,010 (collateralized by U.S. Treasury <br> obligations valued at $2,192,151,884; 3.75% - 4.38%; 01/31/2027 - <br> 08/31/2028)<br>| 3.71% | 03/04/2026 | 99446688 | &nbsp;&nbsp; 99375000 |
| Natixis, joint agreement dated 02/27/2026, aggregate maturing value of <br> $1,000,305,833 (collateralized by agency mortgage-backed securities, U.S. <br> government sponsored agency obligations and U.S. Treasury obligations valued at <br> $1,020,000,000; 0.00% - 7.00%; 03/31/2026 - 11/20/2074)<br>| 3.67% | 03/02/2026 | 300091750 | &nbsp;&nbsp; 300000000 |
| RBC Dominion Securities Inc., joint agreement dated 02/27/2026, aggregate <br> maturing value of $1,000,306,667 (collateralized by agency mortgage-backed <br> securities and U.S. Treasury obligations valued at $1,020,312,840; 0.00% - <br> 7.50%; 07/15/2026 - 10/20/2065)<br>| 3.68% | 03/02/2026 | 60018400 | &nbsp;&nbsp; 60000000 |
| RBC Dominion Securities Inc., joint term agreement dated 08/26/2025, aggregate <br> maturing value of $1,020,366,425 (collateralized by U.S. Treasury obligations <br> valued at $1,024,897,174; 0.00% - 5.00%; 03/12/2026 - 02/15/2056)<sup>(d)</sup> <br>| 3.87% | 07/27/2026 | 41436200 | &nbsp;&nbsp; 40000000 |
| RBC Dominion Securities Inc., joint term agreement dated 08/26/2025, aggregate <br> maturing value of $1,038,725,556 (collateralized by U.S. Treasury obligations <br> valued at $1,040,292,750; 0.00% - 5.00%; 03/12/2026 - 02/15/2056)<sup>(d)</sup> <br>| 3.83% | 08/26/2026 | 44665199 | &nbsp;&nbsp; 43000000 |
| RBC Dominion Securities Inc., joint term agreement dated 08/27/2025, aggregate <br> maturing value of $831,486,425 (collateralized by U.S. Treasury obligations <br> valued at $835,437,338; 0.00% - 6.63%; 04/16/2026 - 02/15/2056)<sup>(d)</sup> <br>| 3.87% | 07/24/2026 | 63163975 | &nbsp;&nbsp; 61000000 |
| RBC Dominion Securities Inc., joint term agreement dated 12/04/2025, aggregate <br> maturing value of $2,035,573,333 (collateralized by agency mortgage-backed <br> securities and U.S. Treasury obligations valued at $2,058,142,418; 0.00% - <br> 8.00%; 04/30/2026 - 03/15/2068)<sup>(d)</sup> <br>| 3.68% | 05/28/2026 | 106867600 | &nbsp;&nbsp; 105000000 |
| Royal Bank of Canada, joint term agreement dated 09/29/2025, aggregate maturing <br> value of $2,075,086,640 (collateralized by agency mortgage-backed securities <br> and U.S. Treasury obligations valued at $2,078,208,705; 0.00% - 7.00%; <br> 03/17/2026 - 03/01/2063)<sup>(d)</sup> <br>| 3.69% | 09/01/2026 | 58963080 | &nbsp;&nbsp; 57000000 |
| Royal Bank of Canada, joint term agreement dated 12/03/2025, aggregate maturing <br> value of $3,060,833,333 (collateralized by U.S. Treasury obligations valued at <br> $3,087,302,409; 0.00% - 4.63%; 03/05/2026 - 02/15/2054)<sup>(d)</sup> <br>| 3.65% | 06/22/2026 | 122433333 | &nbsp;&nbsp; 120000000 |
| Societe Generale, joint term agreement dated 02/25/2026, aggregate maturing <br> value of $1,000,719,444 (collateralized by agency mortgage-backed securities <br> valued at $1,020,000,002; 1.66% - 7.00%; 04/20/2026 - 03/20/2075)<br>| 3.70% | 03/04/2026 | 50035972 | &nbsp;&nbsp; 50000000 |
| Societe Generale, joint term agreement dated 02/27/2026, aggregate maturing <br> value of $1,501,076,250 (collateralized by agency mortgage-backed securities <br> valued at $1,530,000,059; 2.00% - 6.50%; 06/01/2049 - 02/01/2056)<br>| 3.69% | 03/06/2026 | 10007175 | &nbsp;&nbsp; 10000000 |
| Sumitomo Mitsui Banking Corp., joint agreement dated 02/27/2026, aggregate <br> maturing value of $5,301,625,333 (collateralized by agency mortgage-backed <br> securities valued at $5,605,743,280; 2.00% - 6.50%; 10/20/2042 - <br> 12/20/2055)<br>| 3.68% | 03/02/2026 | 61671258 | &nbsp;&nbsp; 61652351 |
| TD Securities (USA) LLC, joint agreement dated 02/27/2026, aggregate maturing <br> value of $950,291,333 (collateralized by agency mortgage-backed securities <br> valued at $969,000,001; 1.75% - 7.71%; 05/25/2028 - 11/16/2065)<br>| 3.68% | 03/02/2026 | 100030667 | &nbsp;&nbsp; 100000000 |
| TD Securities (USA) LLC, joint term agreement dated 02/25/2026, aggregate <br> maturing value of $480,345,333 (collateralized by agency mortgage-backed <br> securities valued at $489,600,000; 2.50% - 5.16%; 11/20/2051 - <br> 11/20/2055)<br>| 3.70% | 03/04/2026 | 70050361 | &nbsp;&nbsp; 70000000 |

---

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

**5**

**Invesco Government Money Market Fund**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Repurchase**<br> **Amount** | &nbsp;&nbsp; **Repurchase**<br> **Amount** | **Value** |
| Wells Fargo Securities, LLC, joint term agreement dated 09/12/2025, aggregate <br> maturing value of $1,142,635,200 (collateralized by agency mortgage-backed <br> securities valued at $1,142,400,001; 1.50% - 7.50%; 08/01/2027 - <br> 01/01/2061)<br>| 3.87% | 03/19/2026 |  | $81616800 | &nbsp;&nbsp; $80000000 |
| Total Repurchase Agreements (Cost $3,797,029,601) | Total Repurchase Agreements (Cost $3,797,029,601) | Total Repurchase Agreements (Cost $3,797,029,601) | Total Repurchase Agreements (Cost $3,797,029,601) |  | &nbsp;&nbsp; 3797029601 |
| TOTAL INVESTMENTS IN SECURITIES<sup>(i)</sup>-99.41% (Cost $6,246,206,260) | TOTAL INVESTMENTS IN SECURITIES<sup>(i)</sup>-99.41% (Cost $6,246,206,260) | TOTAL INVESTMENTS IN SECURITIES<sup>(i)</sup>-99.41% (Cost $6,246,206,260) | TOTAL INVESTMENTS IN SECURITIES<sup>(i)</sup>-99.41% (Cost $6,246,206,260) |  | &nbsp;&nbsp; 6246206260 |
| OTHER ASSETS LESS LIABILITIES-0.59% | OTHER ASSETS LESS LIABILITIES-0.59% | OTHER ASSETS LESS LIABILITIES-0.59% | OTHER ASSETS LESS LIABILITIES-0.59% |  | &nbsp;&nbsp; 37043891 |
| NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% |  | &nbsp;&nbsp; $6283250151 |

---

Investment Abbreviations:

EFFR -Effective Federal Funds Rate <br> SOFR -Secured Overnight Financing Rate

Notes to Schedule of Investments:

<sup>(a)</sup> Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2026.

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

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

<sup>(d)</sup> The Fund may demand payment of the term repurchase agreement upon one to seven business days' notice depending on the timing of the demand.

<sup>(e)</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>(f)</sup> Interest is paid periodically at specified time intervals. The Repurchase Amount includes one day of interest due at maturity. 

<sup>(g)</sup> Interest is paid periodically at specified time intervals. The Repurchase Amount includes three days of interest due at maturity.

<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. 

<sup>(i)</sup> Also represents cost for federal income tax purposes.

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

**6**

**Invesco Government Money Market Fund**

------

**Statement of Assets and Liabilities**

*February 28, 2026*

---

| | |
|:---|:---|
| **Assets:** |  |
| Investments in unaffiliated securities, excluding <br> repurchase agreements, at value and cost<br>| &nbsp;&nbsp; $2449176659 |
| Repurchase agreements, at value and cost | &nbsp;&nbsp; 3797029601 |
| Receivable for: |  |
| Fund shares sold | &nbsp;&nbsp; 28829737 |
| Interest | &nbsp;&nbsp; 32516440 |
| Investment for trustee deferred compensation and <br> retirement plans<br>| &nbsp;&nbsp; 337318 |
| Other assets | &nbsp;&nbsp; 15147 |
| Total assets | &nbsp;&nbsp; 6307904902 |
| **Liabilities:** |  |
| Payable for: |  |
| Fund shares reacquired | &nbsp;&nbsp; 19773785 |
| Amount due custodian | &nbsp;&nbsp; 790 |
| Dividends | &nbsp;&nbsp; 1637622 |
| Accrued fees to affiliates | &nbsp;&nbsp; 2759519 |
| Accrued trustees' and officers' fees and benefits | &nbsp;&nbsp; 11908 |
| Accrued operating expenses | &nbsp;&nbsp; 119628 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 351499 |
| Total liabilities | &nbsp;&nbsp; 24654751 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $6283250151 |
| **Net assets consist of:** |  |
| Shares of beneficial interest | &nbsp;&nbsp; $6283773549 |
| Distributable earnings (loss) | &nbsp;&nbsp; (523398)<br>|
|  | &nbsp;&nbsp; $6283250151 |

---

---

| | |
|:---|:---|
| **Net Assets:** | **Net Assets:** |
| Invesco Cash Reserve | &nbsp;&nbsp; $4952037691 |
| Class A | &nbsp;&nbsp; $321391316 |
| Class AX | &nbsp;&nbsp; $57092098 |
| Class C | &nbsp;&nbsp; $106838124 |
| Class CX | &nbsp;&nbsp; $85126 |
| Class R | &nbsp;&nbsp; $194499124 |
| Class Y | &nbsp;&nbsp; $441867492 |
| Investor Class | &nbsp;&nbsp; $196019743 |
| Class R6 | &nbsp;&nbsp; $13419437 |
| **Shares outstanding, no par value,** <br>**unlimited number of shares authorized:** | **Shares outstanding, no par value,** <br>**unlimited number of shares authorized:** |
| Invesco Cash Reserve | &nbsp;&nbsp; 4952396941 |
| Class A | &nbsp;&nbsp; 321413943 |
| Class AX | &nbsp;&nbsp; 57096426 |
| Class C | &nbsp;&nbsp; 106846330 |
| Class CX | &nbsp;&nbsp; 85137 |
| Class R | &nbsp;&nbsp; 194513760 |
| Class Y | &nbsp;&nbsp; 441899945 |
| Investor Class | &nbsp;&nbsp; 196034848 |
| Class R6 | &nbsp;&nbsp; 13420326 |
| Net asset value and offering price per share for each <br> class<br>| &nbsp;&nbsp; $1.00 |

---

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

**7**

**Invesco Government Money Market Fund**

------

**Statement of Operations**

*For the year ended February 28, 2026* 

---

| | |
|:---|:---|
| **Investment income:** |  |
| Interest | &nbsp;&nbsp; $264288437 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 9422905 |
| Administrative services fees | &nbsp;&nbsp; 2802534 |
| Custodian fees | &nbsp;&nbsp; 53038 |
| Distribution fees: |  |
| Invesco Cash Reserve | &nbsp;&nbsp; 7406423 |
| Class A | &nbsp;&nbsp; 626184 |
| Class AX | &nbsp;&nbsp; 87712 |
| Class C | &nbsp;&nbsp; 861089 |
| Class CX | &nbsp;&nbsp; 1289 |
| Class R | &nbsp;&nbsp; 802496 |
| Transfer agent fees - Invesco Cash Reserve, A, AX, C, CX, R, Y and Investor | &nbsp;&nbsp; 6361161 |
| Transfer agent fees - R6 | &nbsp;&nbsp; 3866 |
| Trustees' and officers' fees and benefits | &nbsp;&nbsp; 76851 |
| Registration and filing fees | &nbsp;&nbsp; 313506 |
| Reports to shareholders | &nbsp;&nbsp; 391494 |
| Professional services fees | &nbsp;&nbsp; 90119 |
| Other | &nbsp;&nbsp; 90569 |
| Total expenses | &nbsp;&nbsp; 29391236 |
| Less: Fees waived, expenses reimbursed and/or expense offset arrangement(s) | &nbsp;&nbsp; (245851)<br>|
| Net expenses | &nbsp;&nbsp; 29145385 |
| Net investment income | &nbsp;&nbsp; 235143052 |
| Net realized gain from unaffiliated investment securities | &nbsp;&nbsp; 137938 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $235280990 |

---

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

**8**

**Invesco Government Money Market Fund**

------

**Statement of Changes in Net Assets**

*For the years ended February 28, 2026 and 2025* 

---

| | | |
|:---|:---|:---|
|  | **2026** | **2025** |
| **Operations:** |  |  |
| Net investment income | &nbsp;&nbsp; $235143052 | &nbsp;&nbsp; $260211719 |
| Net realized gain | &nbsp;&nbsp; 137938 | &nbsp;&nbsp; 195306 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 235280990 | &nbsp;&nbsp; 260407025 |
| **Distributions to shareholders from distributable earnings:** |  |  |
| Invesco Cash Reserve | &nbsp;&nbsp; (185068578)<br>| &nbsp;&nbsp; (202236982)<br>|
| Class A | &nbsp;&nbsp; (11588859)<br>| &nbsp;&nbsp; (14562803)<br>|
| Class AX | &nbsp;&nbsp; (2194615)<br>| &nbsp;&nbsp; (2772916)<br>|
| Class C | &nbsp;&nbsp; (3629812)<br>| &nbsp;&nbsp; (4893901)<br>|
| Class CX | &nbsp;&nbsp; (4334)<br>| &nbsp;&nbsp; (6427)<br>|
| Class R | &nbsp;&nbsp; (7027507)<br>| &nbsp;&nbsp; (8348562)<br>|
| Class Y | &nbsp;&nbsp; (17001558)<br>| &nbsp;&nbsp; (18184208)<br>|
| Investor Class | &nbsp;&nbsp; (8116732)<br>| &nbsp;&nbsp; (8850790)<br>|
| Class R6 | &nbsp;&nbsp; (511057)<br>| &nbsp;&nbsp; (355130)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (235143052)<br>| &nbsp;&nbsp; (260211719)<br>|
| **Share transactions-net:** |  |  |
| Invesco Cash Reserve | &nbsp;&nbsp; 244525487 | &nbsp;&nbsp; 569585500 |
| Class A | &nbsp;&nbsp; (2139791)<br>| &nbsp;&nbsp; (9368402)<br>|
| Class AX | &nbsp;&nbsp; (2889437)<br>| &nbsp;&nbsp; (1412387)<br>|
| Class C | &nbsp;&nbsp; (9390663)<br>| &nbsp;&nbsp; (11942194)<br>|
| Class CX | &nbsp;&nbsp; (70992)<br>| &nbsp;&nbsp; (24383)<br>|
| Class R | &nbsp;&nbsp; (4345742)<br>| &nbsp;&nbsp; 8808629 |
| Class Y | &nbsp;&nbsp; 46065890 | &nbsp;&nbsp; 56832312 |
| Investor Class | &nbsp;&nbsp; 11514778 | &nbsp;&nbsp; (1626852)<br>|
| Class R6 | &nbsp;&nbsp; 2836292 | &nbsp;&nbsp; 7269697 |
| Net increase in net assets resulting from share transactions | &nbsp;&nbsp; 286105822 | &nbsp;&nbsp; 618121920 |
| Net increase in net assets | &nbsp;&nbsp; 286243760 | &nbsp;&nbsp; 618317226 |
| **Net assets:** |  |  |
| Beginning of year | &nbsp;&nbsp; 5997006391 | &nbsp;&nbsp; 5378689165 |
| End of year | &nbsp;&nbsp; $6283250151 | &nbsp;&nbsp; $5997006391 |

---

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

**9**

**Invesco Government Money Market Fund**

------

**Financial Highlights**

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

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(realized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or expenses** <br>**absorbed**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or expenses** <br>**absorbed**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**to average** <br>**net assets**<br>|
| **Invesco Cash Reserve** | **Invesco Cash Reserve** | **Invesco Cash Reserve** | **Invesco Cash Reserve** | **Invesco Cash Reserve** | **Invesco Cash Reserve** | **Invesco Cash Reserve** | **Invesco Cash Reserve** | **Invesco Cash Reserve** | **Invesco Cash Reserve** | **Invesco Cash Reserve** | **Invesco Cash Reserve** |
| Year ended 02/28/26 | $1.00 | $0.04 | $0.00 | $0.04 | $(0.04)<br>| $1.00 | 3.82<br> %<br>| $4952038 | 0.46<br> %<br>| 0.46<br> %<br>| 3.75<br> %<br>|
| Year ended 02/28/25 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| 1.00 | 4.69 | 4707415 | 0.47 | 0.47 | 4.59 |
| Year ended 02/29/24 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| 1.00 | 4.89 | 4137681 | 0.48 | 0.48 | 4.80 |
| Year ended 02/28/23 | 1.00 | 0.02 | (0.00)<br>| 0.02 | (0.02)<br>| 1.00 | 1.99 | 3129323 | 0.45 | 0.47 | 2.07 |
| Year ended 02/28/22 | 1.00 | 0.00 | (0.00 )<sup>(c)</sup><br>| 0.00 | (0.00)<br>| 1.00 | 0.01 | 2390850 | 0.07 | 0.51 | 0.01 |
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year ended 02/28/26 | 1.00 | 0.04 | 0.00 | 0.04 | (0.04)<br>| 1.00 | 3.76 | 321391 | 0.51 | 0.51 | 3.70 |
| Year ended 02/28/25 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| 1.00 | 4.64 | 323519 | 0.52 | 0.52 | 4.54 |
| Year ended 02/29/24 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| 1.00 | 4.84 | 332871 | 0.53 | 0.53 | 4.75 |
| Year ended 02/28/23 | 1.00 | 0.02 | (0.00)<br>| 0.02 | (0.02)<br>| 1.00 | 1.95 | 346709 | 0.50 | 0.52 | 2.02 |
| Year ended 02/28/22 | 1.00 | 0.00 | (0.00 )<sup>(c)</sup><br>| 0.00 | (0.00)<br>| 1.00 | 0.01 | 340937 | 0.07 | 0.56 | 0.01 |
| **Class AX** | **Class AX** | **Class AX** | **Class AX** | **Class AX** | **Class AX** | **Class AX** | **Class AX** | **Class AX** | **Class AX** | **Class AX** | **Class AX** |
| Year ended 02/28/26 | 1.00 | 0.04 | 0.00 | 0.04 | (0.04)<br>| 1.00 | 3.82 | 57092 | 0.46 | 0.46 | 3.75 |
| Year ended 02/28/25 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| 1.00 | 4.69 | 59979 | 0.47 | 0.47 | 4.59 |
| Year ended 02/29/24 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| 1.00 | 4.89 | 61389 | 0.48 | 0.48 | 4.80 |
| Year ended 02/28/23 | 1.00 | 0.02 | (0.00)<br>| 0.02 | (0.02)<br>| 1.00 | 1.99 | 64032 | 0.45 | 0.47 | 2.07 |
| Year ended 02/28/22 | 1.00 | 0.00 | (0.00 )<sup>(c)</sup><br>| 0.00 | (0.00)<br>| 1.00 | 0.01 | 70035 | 0.07 | 0.51 | 0.01 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year ended 02/28/26 | 1.00 | 0.03 | 0.00 | 0.03 | (0.03)<br>| 1.00 | 3.20 | 106838 | 1.06 | 1.06 | 3.15 |
| Year ended 02/28/25 | 1.00 | 0.04 | 0.00 | 0.04 | (0.04)<br>| 1.00 | 4.07 | 116224 | 1.07 | 1.07 | 3.99 |
| Year ended 02/29/24 | 1.00 | 0.04 | 0.00 | 0.04 | (0.04)<br>| 1.00 | 4.26 | 128160 | 1.08 | 1.08 | 4.20 |
| Year ended 02/28/23 | 1.00 | 0.02 | (0.00)<br>| 0.02 | (0.02)<br>| 1.00 | 1.53 | 145787 | 0.92 | 1.07 | 1.60 |
| Year ended 02/28/22 | 1.00 | 0.00 | (0.00 )<sup>(c)</sup><br>| 0.00 | (0.00)<br>| 1.00 | 0.01 | 122057 | 0.07 | 1.11 | 0.01 |
| **Class CX** | **Class CX** | **Class CX** | **Class CX** | **Class CX** | **Class CX** | **Class CX** | **Class CX** | **Class CX** | **Class CX** | **Class CX** | **Class CX** |
| Year ended 02/28/26 | 1.00 | 0.03 | 0.00 | 0.03 | (0.03)<br>| 1.00 | 3.04 | 85 | 1.21 | 1.21 | 3.00 |
| Year ended 02/28/25 | 1.00 | 0.04 | 0.00 | 0.04 | (0.04)<br>| 1.00 | 3.91 | 156 | 1.22 | 1.22 | 3.84 |
| Year ended 02/29/24 | 1.00 | 0.04 | 0.00 | 0.04 | (0.04)<br>| 1.00 | 4.11 | 180 | 1.23 | 1.23 | 4.05 |
| Year ended 02/28/23 | 1.00 | 0.01 | (0.00)<br>| 0.01 | (0.01)<br>| 1.00 | 1.42 | 222 | 1.01 | 1.22 | 1.51 |
| Year ended 02/28/22 | 1.00 | 0.00 | (0.00 )<sup>(c)</sup><br>| 0.00 | (0.00)<br>| 1.00 | 0.01 | 244 | 0.07 | 1.26 | 0.01 |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year ended 02/28/26 | 1.00 | 0.04 | 0.00 | 0.04 | (0.04)<br>| 1.00 | 3.56 | 194499 | 0.71 | 0.71 | 3.50 |
| Year ended 02/28/25 | 1.00 | 0.04 | 0.00 | 0.04 | (0.04)<br>| 1.00 | 4.43 | 198838 | 0.72 | 0.72 | 4.34 |
| Year ended 02/29/24 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| 1.00 | 4.63 | 190022 | 0.73 | 0.73 | 4.55 |
| Year ended 02/28/23 | 1.00 | 0.02 | (0.00)<br>| 0.02 | (0.02)<br>| 1.00 | 1.78 | 180897 | 0.66 | 0.72 | 1.86 |
| Year ended 02/28/22 | 1.00 | 0.00 | (0.00 )<sup>(c)</sup><br>| 0.00 | (0.00)<br>| 1.00 | 0.01 | 159912 | 0.07 | 0.76 | 0.01 |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| Year ended 02/28/26 | 1.00 | 0.04 | 0.00 | 0.04 | (0.04)<br>| 1.00 | 3.97 | 441867 | 0.31 | 0.31 | 3.90 |
| Year ended 02/28/25 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| 1.00 | 4.85 | 395792 | 0.32 | 0.32 | 4.74 |
| Year ended 02/29/24 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| 1.00 | 5.05 | 338954 | 0.33 | 0.33 | 4.95 |
| Year ended 02/28/23 | 1.00 | 0.02 | (0.00)<br>| 0.02 | (0.02)<br>| 1.00 | 2.14 | 200876 | 0.31 | 0.32 | 2.21 |
| Year ended 02/28/22 | 1.00 | 0.00 | (0.00 )<sup>(c)</sup><br>| 0.00 | (0.00)<br>| 1.00 | 0.01 | 67999 | 0.07 | 0.36 | 0.01 |
| **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** |
| Year ended 02/28/26 | 1.00 | 0.04 | 0.00 | 0.04 | (0.04)<br>| 1.00 | 3.97 | 196020 | 0.31 | 0.31 | 3.90 |
| Year ended 02/28/25 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| 1.00 | 4.85 | 184500 | 0.32 | 0.32 | 4.74 |
| Year ended 02/29/24 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| 1.00 | 5.05 | 186118 | 0.33 | 0.33 | 4.95 |
| Year ended 02/28/23 | 1.00 | 0.02 | (0.00)<br>| 0.02 | (0.02)<br>| 1.00 | 2.14 | 145977 | 0.31 | 0.32 | 2.21 |
| Year ended 02/28/22 | 1.00 | 0.00 | (0.00 )<sup>(c)</sup><br>| 0.00 | (0.00)<br>| 1.00 | 0.01 | 120491 | 0.07 | 0.36 | 0.01 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| Year ended 02/28/26 | 1.00 | 0.04 | 0.00 | 0.04 | (0.04)<br>| 1.00 | 4.04 | 13419 | 0.24 | 0.24 | 3.97 |
| Year ended 02/28/25 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| 1.00 | 4.93 | 10583 | 0.24 | 0.24 | 4.82 |
| Year ended 02/29/24 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| 1.00 | 5.14 | 3314 | 0.24 | 0.24 | 5.04 |
| Year ended 02/28/23 | 1.00 | 0.02 | (0.00)<br>| 0.02 | (0.02)<br>| 1.00 | 2.21 | 268 | 0.18 | 0.18 | 2.34 |
| Year ended 02/28/22 | 1.00 | 0.00 | (0.00 )<sup>(c)</sup><br>| 0.00 | (0.00)<br>| 1.00 | 0.01 | 126 | 0.07 | 0.27 | 0.01 |

---

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

<sup>(b)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America and does not include sales charges and is not annualized for periods less than one year, if applicable. 

<sup>(c)</sup> Net gains (losses) on securities (both realized and unrealized) per share may not correlate with the Fund's net realized and unrealized gain (loss) due to timing of shareholder transactions in relation to the fluctuating market values of the Fund's investments. 

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

**10**

**Invesco Government Money Market Fund**

------

**Notes to Financial Statements**

*February 28, 2026*

**NOTE 1—Significant Accounting Policies**

Invesco Government Money Market Fund (the "Fund") is a series portfolio of AIM Investment Securities Funds (Invesco Investment Securities Funds) (the "Trust"). The Trust is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company authorized to issue an unlimited number of shares of beneficial interest. Information presented in these financial statements pertains only to the Fund. Matters affecting the Fund or each class will be voted on exclusively by the shareholders of the Fund or each class.

The Fund's investment objective is to provide current income consistent with preservation of capital and liquidity.

The Fund currently consists of nine different classes of shares: Invesco Cash Reserve, Class A , Class AX, Class C, Class CX, Class R, Class Y, Investor Class and Class R6. Class A, Class AX and Class CX shares are closed to new investors. Class Y and Investor Class shares are available only to certain investors. Class C and Class CX shares are sold with a contingent deferred sales charges ("CDSC"). Invesco Cash Reserve, Class A, Class AX, Class R, Class Y, Investor Class and Class R6 shares are sold at net asset value. Class C shares held for eight years after purchase are eligible for automatic conversion into Invesco Cash Reserve shares of the same Fund (the "Conversion Feature"). The automatic conversion pursuant to the Conversion Feature will generally occur at the end of the month following the eighth anniversary after a purchase of Class C shares.

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

The Fund is a "government money market fund" as defined in Rule 2a-7 under the 1940 Act (the "Rule") and seeks to maintain a stable or constant NAV of $1.00 per share using an amortized cost method of valuation. "Government money market funds" are required to invest at least 99.5% of their total assets in cash, Government Securities (as defined in the 1940 Act), and/ or repurchase agreements collateralized fully by cash or Government Securities. The Board of Trustees has elected not to subject the Fund to liquidity fee requirements at this time, as permitted by the Rule.

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

**A.** **Security Valuations** — The Fund's securities are recorded on the basis of amortized cost which approximates value as permitted by the Rule. This method values a security at its cost on the date of purchase and, thereafter, assumes a constant amortization to maturity of any premiums or accretion of any discounts.

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

Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

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

**B.** **Securities Transactions and Investment Income** — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on the accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.

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

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

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

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

**D.** **Distributions -** Distributions from net investment income, if any, are declared daily and paid monthly. Distributions from net realized capital gain, if any, are generally declared and paid annually and recorded on the ex-dividend date.

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

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

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

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual periods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid by jurisdiction, while removing certain disclosure requirements. The Fund did not pay any material income taxes, net of refunds during the period.

**F.** **Expenses** — Fees provided for under the Rule 12b-1 plan of a particular class of the Fund are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses attributable to Class R6 are charged to such class. Transfer agency fees and expenses and other

**11**

**Invesco Government Money Market Fund**

------

shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative settled shares.

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

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

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

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

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

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

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, the Fund accrues daily and pays monthly an advisory fee to the Adviser based on the annual rate of 0.15% of the Fund's average daily net assets.

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

The Adviser has agreed, for an indefinite period, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Invesco Cash Reserve, Class A, Class AX, Class C, Class CX, Class R, Class Y, Investor Class and Class R6 shares to 1.40%, 1.45%, 1.40%, 2.00%, 2.15%, 1.65%, 1.25%, 1.25% and 1.25%, respectively, of the Fund's average daily net assets (the "boundary limits"). In determining the Adviser's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the total annual fund operating expenses after fee waiver and/or expense reimbursement to exceed the numbers reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses; and (5) expenses that the Fund has incurred but did not actually pay because of an expense offset arrangement. Invesco may amend and/or terminate these boundary limits at any time in its sole discretion and will inform the Board of Trustees of any such changes. The Adviser did not waive fees and/or reimburse expenses during the period under these boundary limits.

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

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") pursuant to which the Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to the Fund and reimburse IIS for certain expenses incurred by IIS in the course of providing such services. IIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. All fees payable by IIS to intermediaries that provide omnibus account services or sub-accounting services are charged back to the Fund, subject to certain limitations approved by the Trust's Board of Trustees. For the year ended February 28, 2026, expenses incurred under the agreement are shown in the Statement of Operations as *Transfer agent fees*.

The Trust has entered into master distribution agreements with Invesco Distributors, Inc. ("IDI") to serve as the distributor for the Invesco Cash Reserve, Class A, Class AX, Class C, Class CX, Class R, Class Y, Investor Class and Class R6 shares of the Fund. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Invesco Cash Reserve, Class A, Class AX, Class C, Class CX and Class R shares (collectively, the "Plans"). The Fund, pursuant to the Plans, pays IDI compensation at the annual rate of 0.15% of the Fund's average daily net assets of Invesco Cash Reserve shares, 0.75% of the Fund's average daily net assets of Class C shares and 0.40% of the Fund's average daily net assets of Class R shares. The Fund, pursuant to the Plans, reimburses IDI for its allocated share of expenses incurred for the period, up to a maximum annual rate of 0.20% of the Fund's average daily net assets of Class A shares, up to a maximum annual rate of 0.15% of the Fund's average daily net assets of Class AX shares and up to a maximum annual rate of 0.90% of the average daily net assets of Class CX shares. The fees are accrued daily and paid monthly. Of the Plan payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such classes. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. Expenses under this agreement are shown as *Distribution fees* in the Statement of Operations.

Front-end sales commissions and CDSC (collectively, the "sales charges") are not recorded as expenses of the Fund. Front-end sales commissions are deducted from proceeds from the sales of Fund shares prior to investment in Class A shares of the Fund. CDSC are deducted from redemption proceeds prior to remittance to the shareholder. During the year ended February 28, 2026, IDI advised the Fund that IDI retained $1,100 in front-end sales commissions from the sale of Class A shares and $20,291, $0, $5,417 and $14 from Invesco Cash Reserve, Class A, Class C and Class CX shares, respectively, for CDSC imposed on redemptions by shareholders.

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

**12**

**Invesco Government Money Market Fund**

------

**NOTE 3—Additional Valuation Information**

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

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

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

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

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

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

The expense offset arrangement is comprised of transfer agency credits which result from balances in demand deposit accounts used by the transfer agent for clearing shareholder transactions. For the year ended February 28, 2026, the Fund received credits from this arrangement, which resulted in the reduction of the Fund's total expenses of $245,851.

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

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

**NOTE 6—Cash Balances**

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

**NOTE 7—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Years Ended February 28, 2026 and February 28, 2025:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Years Ended February 28, 2026 and February 28, 2025:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Years Ended February 28, 2026 and February 28, 2025:</u>** |
|  | **2026** | **2025** |
| Ordinary income\* | &nbsp;&nbsp; $235143052 | &nbsp;&nbsp;&nbsp;&nbsp; $260211719 |

---

\* Includes short-term capital gain distributions, if any.

---

| | |
|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | **2026** |
| Temporary book/tax differences | &nbsp;&nbsp;&nbsp;&nbsp; $(216685)<br>|
| Capital loss carryforward | &nbsp;&nbsp;&nbsp;&nbsp; (306713)<br>|
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp;&nbsp; 6283773549 |
| Total net assets | &nbsp;&nbsp;&nbsp;&nbsp; $6283250151 |

---

The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Fund's temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits.

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

The Fund has a capital loss carryforward as of February 28, 2026 as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** |
| **Expiration** | **Short-Term** | **Long-Term** | **Total** |
| Not subject to expiration | &nbsp;&nbsp;&nbsp;&nbsp; $306713 | &nbsp;&nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp;&nbsp; $306713 |

---

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

**13**

**Invesco Government Money Market Fund**

------

**NOTE 8—Share Information** 

---

| | | |
|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Years ended February 28,** | **Years ended February 28,** |
|  | **Year ended February 28, 2026**<sup>(a)</sup>  | **Year ended February 28, 2025** |
|  | **Amount** | **Amount** |
| **Sold:** |  |  |
| Invesco Cash Reserve | &nbsp;&nbsp;&nbsp; $5037603672 | &nbsp;&nbsp;&nbsp; $4281529245 |
| Class A | &nbsp;&nbsp;&nbsp; 140846331 | &nbsp;&nbsp;&nbsp; 136238051 |
| Class AX | &nbsp;&nbsp;&nbsp; 6461814 | &nbsp;&nbsp;&nbsp; 8022853 |
| Class C | &nbsp;&nbsp;&nbsp; 58340354 | &nbsp;&nbsp;&nbsp; 59061315 |
| Class CX | &nbsp;&nbsp;&nbsp; 10192 | &nbsp;&nbsp;&nbsp; 11252 |
| Class R | &nbsp;&nbsp;&nbsp; 91656582 | &nbsp;&nbsp;&nbsp; 94588143 |
| Class Y | &nbsp;&nbsp;&nbsp; 550878484 | &nbsp;&nbsp;&nbsp; 397453367 |
| Investor Class | &nbsp;&nbsp;&nbsp; 148351523 | &nbsp;&nbsp;&nbsp; 117841142 |
| Class R6 | &nbsp;&nbsp;&nbsp; 22675400 | &nbsp;&nbsp;&nbsp; 13273281 |
| **Issued as reinvestment of dividends:** |  |  |
| Invesco Cash Reserve | &nbsp;&nbsp;&nbsp; 170654471 | &nbsp;&nbsp;&nbsp; 184060664 |
| Class A | &nbsp;&nbsp;&nbsp; 10091449 | &nbsp;&nbsp;&nbsp; 12927285 |
| Class AX | &nbsp;&nbsp;&nbsp; 2116249 | &nbsp;&nbsp;&nbsp; 2663731 |
| Class C | &nbsp;&nbsp;&nbsp; 3500994 | &nbsp;&nbsp;&nbsp; 4662354 |
| Class CX | &nbsp;&nbsp;&nbsp; 4233 | &nbsp;&nbsp;&nbsp; 6401 |
| Class R | &nbsp;&nbsp;&nbsp; 6951106 | &nbsp;&nbsp;&nbsp; 8245843 |
| Class Y | &nbsp;&nbsp;&nbsp; 12114582 | &nbsp;&nbsp;&nbsp; 12568310 |
| Investor Class | &nbsp;&nbsp;&nbsp; 7504332 | &nbsp;&nbsp;&nbsp; 8193092 |
| Class R6 | &nbsp;&nbsp;&nbsp; 509381 | &nbsp;&nbsp;&nbsp; 348287 |
| **Automatic Conversion of Class C and CX shares to** <br> **Invesco** <br>**Cash Reserve shares:**<br>|  |  |
| Invesco Cash Reserve | &nbsp;&nbsp;&nbsp; 10318467 | &nbsp;&nbsp;&nbsp; 11247947 |
| Class C | &nbsp;&nbsp;&nbsp; (10255149)<br>| &nbsp;&nbsp;&nbsp; (11226436)<br>|
| Class CX | &nbsp;&nbsp;&nbsp; (63318)<br>| &nbsp;&nbsp;&nbsp; (21511)<br>|
| **Reacquired:** |  |  |
| Invesco Cash Reserve | &nbsp;&nbsp;&nbsp; (4974051123)<br>| &nbsp;&nbsp;&nbsp; (3907252356)<br>|
| Class A | &nbsp;&nbsp;&nbsp; (153077571)<br>| &nbsp;&nbsp;&nbsp; (158533738)<br>|
| Class AX | &nbsp;&nbsp;&nbsp; (11467500)<br>| &nbsp;&nbsp;&nbsp; (12098971)<br>|
| Class C | &nbsp;&nbsp;&nbsp; (60976862)<br>| &nbsp;&nbsp;&nbsp; (64439427)<br>|
| Class CX | &nbsp;&nbsp;&nbsp; (22099)<br>| &nbsp;&nbsp;&nbsp; (20525)<br>|
| Class R | &nbsp;&nbsp;&nbsp; (102953430)<br>| &nbsp;&nbsp;&nbsp; (94025357)<br>|
| Class Y | &nbsp;&nbsp;&nbsp; (516927176)<br>| &nbsp;&nbsp;&nbsp; (353189365)<br>|
| Investor Class | &nbsp;&nbsp;&nbsp; (144341077)<br>| &nbsp;&nbsp;&nbsp; (127661086)<br>|
| Class R6 | &nbsp;&nbsp;&nbsp; (20348489)<br>| &nbsp;&nbsp;&nbsp; (6351871)<br>|
| Net increase in share activity | &nbsp;&nbsp;&nbsp; $286105822 | &nbsp;&nbsp;&nbsp; $618121920 |

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 58% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**14**

**Invesco Government Money Market Fund**

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Investment Securities Funds (Invesco Investment Securities Funds) and Shareholders of Invesco Government Money Market Fund

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco Government Money Market Fund (one of the funds constituting AIM Investment Securities Funds (Invesco Investment Securities Funds), referred to hereafter as the "Fund") as of February 28, 2026, the related statement of operations for the year ended February 28, 2026, the statement of changes in net assets for each of the two years in the period ended February 28, 2026, including the related notes, and the financial highlights for each of the five years in the period ended February 28, 2026 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 28, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended February 28, 2026 and the financial highlights for each of the five years in the period ended February 28, 2026 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026 by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

April 28, 2026

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**15**

**Invesco Government Money Market Fund**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year-end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended February 28, 2026:

---

| | |
|:---|:---|
| **Federal and State Income Tax** |  |
| Qualified Business Income\* | &nbsp;&nbsp; 0.00% |
| Qualified Dividend Income\* | &nbsp;&nbsp; 0.00% |
| Corporate Dividends Received Deduction\* | &nbsp;&nbsp; 0.00% |
| Business Interest Income\* | &nbsp;&nbsp; 100.00% |
| U.S. Treasury Obligations\* | &nbsp;&nbsp; 14.73% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

**16**

**Invesco Government Money Market Fund**

------

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

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

Not applicable.

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

Not applicable.

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

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

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

Not applicable.

**17**

**Invesco Government Money Market Fund**

------

![](imgb86b859f1.jpg)

SEC file number(s): 811-05686 and 033-39519

Invesco Distributors, Inc.

GMKT-NCSR

------

![](img9bacda7b1.jpg)

------

**Annual Financial Statements and Other Information**

**February 28, 2026**

**Invesco High Yield Fund**

Nasdaq:

A: AMHYX ■ C: AHYCX ■ Y: AHHYX ■ Investor: HYINX ■ R5: AHIYX ■ R6: HYIFX

------

---

| | |
|:---|:---|
| [2](#xx_08076985-ede1-4f08-ad0d-49c8fc5056ac_SOI-Continued-107_1) | Schedule of Investments |
| [12](#xx_08076985-ede1-4f08-ad0d-49c8fc5056ac_FS-Continued-107_1) | Financial Statements |
| [15](#xx_08076985-ede1-4f08-ad0d-49c8fc5056ac_FS-Continued-107_4) | Financial Highlights |
| [16](#xx_08076985-ede1-4f08-ad0d-49c8fc5056ac_NTF-Continued-107_1) | Notes to Financial Statements |
| [26](#xx_08076985-ede1-4f08-ad0d-49c8fc5056ac_ARS-Continued-107_1) | Report of Independent Registered Public Accounting Firm |
| [27](#xx_08076985-ede1-4f08-ad0d-49c8fc5056ac_TI-Continued-107_1) | Tax Information |
| [28](#xx_08076985-ede1-4f08-ad0d-49c8fc5056ac_OIRSR-Continued-107_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

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

*February 28, 2026*

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **U.S. Dollar Denominated Bonds & Notes–84.96%** | **U.S. Dollar Denominated Bonds & Notes–84.96%** | **U.S. Dollar Denominated Bonds & Notes–84.96%** | **U.S. Dollar Denominated Bonds & Notes–84.96%** |
| **Advertising–0.06%** | **Advertising–0.06%** | **Advertising–0.06%** | **Advertising–0.06%** |
| Clear Channel Outdoor Holdings, <br> Inc., 7.50%, 03/15/2033<sup>(b)</sup> <br>|  | $603000 | &nbsp;&nbsp; $651289 |
| **Aerospace & Defense–1.06%** | **Aerospace & Defense–1.06%** | **Aerospace & Defense–1.06%** | **Aerospace & Defense–1.06%** |
| TransDigm, Inc., | TransDigm, Inc., |  |  |
| 6.00%, 01/15/2033<sup>(b)</sup> <br>|  | 4582000 | &nbsp;&nbsp; 4666465 |
| 6.25%, 01/31/2034<sup>(b)(c)</sup> <br>|  | 1390000 | &nbsp;&nbsp; 1438828 |
| 6.13%, 07/31/2034<sup>(b)(c)</sup> <br>|  | 5500000 | &nbsp;&nbsp; 5593422 |
|  |  |  | &nbsp;&nbsp; 11698715 |
| **Alternative Carriers–0.08%** | **Alternative Carriers–0.08%** | **Alternative Carriers–0.08%** | **Alternative Carriers–0.08%** |
| Lumen Technologies, Inc., | Lumen Technologies, Inc., |  |  |
| 4.50%, 01/15/2029<sup>(b)</sup> <br>|  | 277000 | &nbsp;&nbsp; 263896 |
| 5.38%, 06/15/2029<sup>(b)</sup> <br>|  | 155000 | &nbsp;&nbsp; 148940 |
| Series P, 7.60%, 09/15/2039 |  | 275000 | &nbsp;&nbsp; 262973 |
| Series U, 7.65%, 03/15/2042 |  | 244000 | &nbsp;&nbsp; 227969 |
|  |  |  | &nbsp;&nbsp; 903778 |
| **Apparel Retail–0.00%** | **Apparel Retail–0.00%** | **Apparel Retail–0.00%** | **Apparel Retail–0.00%** |
| Saks Global Enterprises LLC, <br> 11.00%, 12/31/2049<sup>(b)(d)</sup> <br>|  | 2901810 | &nbsp;&nbsp; 19950 |
| **Application Software–1.37%** | **Application Software–1.37%** | **Application Software–1.37%** | **Application Software–1.37%** |
| Black Pearl Compute LLC, 6.13%, <br> 02/15/2031<sup>(b)</sup> <br>|  | 1378000 | &nbsp;&nbsp; 1412039 |
| Cloud Software Group, Inc., | Cloud Software Group, Inc., |  |  |
| 9.00%, 09/30/2029<sup>(b)</sup> <br>|  | 5756000 | &nbsp;&nbsp; 5642861 |
| 8.25%, 06/30/2032<sup>(b)</sup> <br>|  | 1929000 | &nbsp;&nbsp; 1932265 |
| SS&C Technologies, Inc., 5.50%, <br> 09/30/2027<sup>(b)</sup> <br>|  | 5084000 | &nbsp;&nbsp; 5080244 |
| X.AI LLC/X.AI Co. Issuer Corp., <br> 12.50%, 06/30/2030<sup>(b)</sup> <br>|  | 1000000 | &nbsp;&nbsp; 1140162 |
|  |  |  | &nbsp;&nbsp; 15207571 |
| **Asset Management & Custody Banks–0.23%** | **Asset Management & Custody Banks–0.23%** | **Asset Management & Custody Banks–0.23%** | **Asset Management & Custody Banks–0.23%** |
| Ittihad International II Ltd. (United <br> Arab Emirates), 7.38%, <br> 11/13/2030<sup>(b)</sup> <br>|  | 2500000 | &nbsp;&nbsp; 2587158 |
| **Automobile Manufacturers–0.74%** | **Automobile Manufacturers–0.74%** | **Automobile Manufacturers–0.74%** | **Automobile Manufacturers–0.74%** |
| Allison Transmission, Inc., | Allison Transmission, Inc., |  |  |
| 3.75%, 01/30/2031<sup>(b)</sup> <br>|  | 5706000 | &nbsp;&nbsp; 5431180 |
| 5.88%, 12/01/2033<sup>(b)</sup> <br>|  | 2738000 | &nbsp;&nbsp; 2797591 |
|  |  |  | &nbsp;&nbsp; 8228771 |
| **Automotive Parts & Equipment–2.68%** | **Automotive Parts & Equipment–2.68%** | **Automotive Parts & Equipment–2.68%** | **Automotive Parts & Equipment–2.68%** |
| American Axle & Manufacturing, <br> Inc., 7.75%, 10/15/2033<sup>(b)</sup> <br>|  | 5283000 | &nbsp;&nbsp; 5372842 |
| Clarios Global L.P./Clarios US <br> Finance Co., 6.75%, <br> 09/15/2032<sup>(b)</sup> <br>|  | 2726000 | &nbsp;&nbsp; 2831224 |
| Cougar JV Subsidiary LLC, 8.00%, <br> 05/15/2032<sup>(b)</sup> <br>|  | 4999000 | &nbsp;&nbsp; 5327389 |
| Forvia SE (France), 8.00%, <br> 06/15/2030<sup>(b)(c)</sup> <br>|  | 5044000 | &nbsp;&nbsp; 5377872 |
| NESCO Holdings II, Inc., 5.50%, <br> 04/15/2029<sup>(b)</sup> <br>|  | 5347000 | &nbsp;&nbsp; 5323511 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Automotive Parts & Equipment–(continued)** | **Automotive Parts & Equipment–(continued)** | **Automotive Parts & Equipment–(continued)** | **Automotive Parts & Equipment–(continued)** |
| Phinia, Inc., | Phinia, Inc., |  |  |
| 6.75%, 04/15/2029<sup>(b)</sup> <br>|  | $2696000 | &nbsp;&nbsp; $2789791 |
| 6.63%, 10/15/2032<sup>(b)</sup> <br>|  | 2520000 | &nbsp;&nbsp; 2618469 |
|  |  |  | &nbsp;&nbsp; 29641098 |
| **Automotive Retail–1.93%** | **Automotive Retail–1.93%** | **Automotive Retail–1.93%** | **Automotive Retail–1.93%** |
| Carvana Co., 0.00% PIK Rate, <br> 9.00% Cash Rate, <br> 06/01/2031<sup>(b)(e)</sup> <br>|  | 5100856 | &nbsp;&nbsp; 5598204 |
| Group 1 Automotive, Inc., 6.38%, <br> 01/15/2030<sup>(b)</sup> <br>|  | 5079000 | &nbsp;&nbsp; 5209083 |
| LCM Investments Holdings II LLC, <br> 8.25%, 08/01/2031<sup>(b)</sup> <br>|  | 4898000 | &nbsp;&nbsp; 5151129 |
| Lithia Motors, Inc., | Lithia Motors, Inc., |  |  |
| 5.50%, 10/01/2030<sup>(b)</sup> <br>|  | 54000 | &nbsp;&nbsp; 54375 |
| 4.38%, 01/15/2031<sup>(b)</sup> <br>|  | 5615000 | &nbsp;&nbsp; 5403583 |
|  |  |  | &nbsp;&nbsp; 21416374 |
| **Broadcasting–1.00%** | **Broadcasting–1.00%** | **Broadcasting–1.00%** | **Broadcasting–1.00%** |
| E.W. Scripps Co. (The), 9.88%, <br> 08/15/2030<sup>(b)</sup> <br>|  | 853000 | &nbsp;&nbsp; 857318 |
| Gray Media, Inc., | Gray Media, Inc., |  |  |
| 5.38%, 11/15/2031<sup>(b)</sup> <br>|  | 991000 | &nbsp;&nbsp; 781124 |
| 9.63%, 07/15/2032<sup>(b)</sup> <br>|  | 1608000 | &nbsp;&nbsp; 1671960 |
| iHeartCommunications, Inc., <br> 9.13%, 05/01/2029<sup>(b)</sup> <br>|  | 3007000 | &nbsp;&nbsp; 2674516 |
| Univision Communications, Inc., | Univision Communications, Inc., |  |  |
| 8.00%, 08/15/2028<sup>(b)</sup> <br>|  | 2788000 | &nbsp;&nbsp; 2865668 |
| 9.38%, 08/01/2032<sup>(b)(c)</sup> <br>|  | 2150000 | &nbsp;&nbsp; 2276853 |
|  |  |  | &nbsp;&nbsp; 11127439 |
| **Building Products–0.50%** | **Building Products–0.50%** | **Building Products–0.50%** | **Building Products–0.50%** |
| JELD-WEN Holding, Inc., 7.00%, <br> 09/01/2032<sup>(b)</sup> <br>|  | 344000 | &nbsp;&nbsp; 186199 |
| JELD-WEN, Inc., 4.88%, <br> 12/15/2027<sup>(b)</sup> <br>|  | 250000 | &nbsp;&nbsp; 205089 |
| New Enterprise Stone & Lime Co., <br> Inc., 5.25%, 07/15/2028<sup>(b)</sup> <br>|  | 5095000 | &nbsp;&nbsp; 5114549 |
|  |  |  | &nbsp;&nbsp; 5505837 |
| **Cable & Satellite–5.32%** | **Cable & Satellite–5.32%** | **Cable & Satellite–5.32%** | **Cable & Satellite–5.32%** |
| CCO Holdings LLC/CCO Holdings Capital <br> Corp., | CCO Holdings LLC/CCO Holdings Capital <br> Corp., |  |  |
| 5.38%, 06/01/2029<sup>(b)</sup> <br>|  | 3430000 | &nbsp;&nbsp; 3424155 |
| 6.38%, 09/01/2029<sup>(b)</sup> <br>|  | 5285000 | &nbsp;&nbsp; 5358741 |
| 4.75%, 03/01/2030<sup>(b)</sup> <br>|  | 5715000 | &nbsp;&nbsp; 5528938 |
| 4.75%, 02/01/2032<sup>(b)</sup> <br>|  | 5377000 | &nbsp;&nbsp; 5004139 |
| 4.50%, 05/01/2032 |  | 4425000 | &nbsp;&nbsp; 4052612 |
| 4.50%, 06/01/2033<sup>(b)(c)</sup> <br>|  | 4340000 | &nbsp;&nbsp; 3879407 |
| CSC Holdings LLC, | CSC Holdings LLC, |  |  |
| 4.50%, 11/15/2031<sup>(b)</sup> <br>|  | 4755000 | &nbsp;&nbsp; 2857856 |
| 5.00%, 11/15/2031<sup>(b)</sup> <br>|  | 1500000 | &nbsp;&nbsp; 561804 |
| Directv Financing LLC, 8.88%, <br> 02/01/2030<sup>(b)</sup> <br>|  | 1304000 | &nbsp;&nbsp; 1306078 |
| Directv Financing LLC/Directv <br> Financing Co-Obligor, Inc., <br> 10.00%, 02/15/2031<sup>(b)</sup> <br>|  | 1355000 | &nbsp;&nbsp; 1386880 |

---

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

**2**

**Invesco High Yield Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Cable & Satellite–(continued)** | **Cable & Satellite–(continued)** | **Cable & Satellite–(continued)** | **Cable & Satellite–(continued)** |
| DISH DBS Corp., | DISH DBS Corp., |  |  |
| 7.38%, 07/01/2028 |  | $2822000 | &nbsp;&nbsp; $2725484 |
| 5.13%, 06/01/2029 |  | 3349000 | &nbsp;&nbsp; 2993916 |
| DISH Network Corp., 11.75%, <br> 11/15/2027<sup>(b)</sup> <br>|  | 2509000 | &nbsp;&nbsp; 2598900 |
| EchoStar Corp., | EchoStar Corp., |  |  |
| 10.75%, 11/30/2029 |  | 2544000 | &nbsp;&nbsp; 2779381 |
| 6.75% PIK Rate, 2.00% Cash <br> Rate, 11/30/2030<sup>(e)</sup> <br>|  | 7520597 | &nbsp;&nbsp; 7625915 |
| Sinclair Television Group, Inc., | Sinclair Television Group, Inc., |  |  |
| 5.50%, 03/01/2030<sup>(b)</sup> <br>|  | 359000 | &nbsp;&nbsp; 320300 |
| 8.13%, 02/15/2033<sup>(b)</sup> <br>|  | 988000 | &nbsp;&nbsp; 1029496 |
| Versant Media Group, Inc., 7.25%, <br> 01/30/2031<sup>(b)</sup> <br>|  | 5307000 | &nbsp;&nbsp; 5434522 |
|  |  |  | &nbsp;&nbsp; 58868524 |
| **Casinos & Gaming–1.64%** | **Casinos & Gaming–1.64%** | **Casinos & Gaming–1.64%** | **Casinos & Gaming–1.64%** |
| Melco Resorts Finance Ltd. <br> (Hong Kong), 6.50%, <br> 09/24/2033<sup>(b)(c)</sup> <br>|  | 5117000 | &nbsp;&nbsp; 5108302 |
| Studio City Finance Ltd. (Macau), <br> 5.00%, 01/15/2029<sup>(b)(c)</sup> <br>|  | 5483000 | &nbsp;&nbsp; 5306145 |
| Voyager Parent LLC, 9.25%, <br> 07/01/2032<sup>(b)</sup> <br>|  | 4834000 | &nbsp;&nbsp; 5164844 |
| Wynn Macau Ltd. (Macau), 6.75%, <br> 02/15/2034<sup>(b)</sup> <br>|  | 2500000 | &nbsp;&nbsp; 2536225 |
|  |  |  | &nbsp;&nbsp; 18115516 |
| **Commercial & Residential Mortgage Finance–1.67%** | **Commercial & Residential Mortgage Finance–1.67%** | **Commercial & Residential Mortgage Finance–1.67%** | **Commercial & Residential Mortgage Finance–1.67%** |
| Nationstar Mortgage Holdings, Inc., <br> 7.13%, 02/01/2032<sup>(b)</sup> <br>|  | 5583000 | &nbsp;&nbsp; 5583000 |
| PennyMac Financial Services, Inc., <br> 4.25%, 02/15/2029<sup>(b)</sup> <br>|  | 2738000 | &nbsp;&nbsp; 2634246 |
| Rocket Cos., Inc., 6.13%, <br> 08/01/2030<sup>(b)</sup> <br>|  | 5186000 | &nbsp;&nbsp; 5323527 |
| Walker & Dunlop, Inc., 6.63%, <br> 04/01/2033<sup>(b)</sup> <br>|  | 4965000 | &nbsp;&nbsp; 4912237 |
|  |  |  | &nbsp;&nbsp; 18453010 |
| **Commodity Chemicals–0.47%** | **Commodity Chemicals–0.47%** | **Commodity Chemicals–0.47%** | **Commodity Chemicals–0.47%** |
| Cerdia Finanz GmbH (Germany), <br> 9.38%, 10/03/2031<sup>(b)</sup> <br>|  | 5099000 | &nbsp;&nbsp; 5226475 |
| **Construction & Engineering–0.96%** | **Construction & Engineering–0.96%** | **Construction & Engineering–0.96%** | **Construction & Engineering–0.96%** |
| AECOM, 6.00%, 08/01/2033<sup>(b)</sup> <br>|  | 5122000 | &nbsp;&nbsp; 5236999 |
| Great Lakes Dredge & Dock Corp., <br> 5.25%, 06/01/2029<sup>(b)</sup> <br>|  | 5419000 | &nbsp;&nbsp; 5408482 |
|  |  |  | &nbsp;&nbsp; 10645481 |
| **Consumer Finance–3.08%** | **Consumer Finance–3.08%** | **Consumer Finance–3.08%** | **Consumer Finance–3.08%** |
| Bread Financial Holdings, Inc., <br> 8.38%, 06/15/2035<sup>(b)(c)(f)</sup> <br>|  | 2470000 | &nbsp;&nbsp; 2519866 |
| EZCORP, Inc., 7.38%, <br> 04/01/2032<sup>(b)</sup> <br>|  | 10241000 | &nbsp;&nbsp; 10993078 |
| FirstCash, Inc., 6.88%, <br> 03/01/2032<sup>(b)</sup> <br>|  | 5070000 | &nbsp;&nbsp; 5238585 |
| Navient Corp., | Navient Corp., |  |  |
| 9.38%, 07/25/2030 |  | 1834000 | &nbsp;&nbsp; 1859082 |
| 7.88%, 06/15/2032<sup>(c)</sup> <br>|  | 3139000 | &nbsp;&nbsp; 2923839 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Consumer Finance–(continued)** | **Consumer Finance–(continued)** | **Consumer Finance–(continued)** | **Consumer Finance–(continued)** |
| OneMain Finance Corp., | OneMain Finance Corp., |  |  |
| 6.63%, 05/15/2029 |  | $2117000 | &nbsp;&nbsp; $2163841 |
| 7.13%, 11/15/2031 |  | 4945000 | &nbsp;&nbsp; 5059046 |
| 7.13%, 09/15/2032 |  | 3227000 | &nbsp;&nbsp; 3304150 |
|  |  |  | &nbsp;&nbsp; 34061487 |
| **Copper–0.48%** | **Copper–0.48%** | **Copper–0.48%** | **Copper–0.48%** |
| First Quantum Minerals Ltd. (Zambia), | First Quantum Minerals Ltd. (Zambia), |  |  |
| 8.63%, 06/01/2031<sup>(b)</sup> <br>|  | 2490000 | &nbsp;&nbsp; 2612818 |
| 8.00%, 03/01/2033<sup>(b)</sup> <br>|  | 2514000 | &nbsp;&nbsp; 2687129 |
|  |  |  | &nbsp;&nbsp; 5299947 |
| **Diversified Banks–1.28%** | **Diversified Banks–1.28%** | **Diversified Banks–1.28%** | **Diversified Banks–1.28%** |
| BBVA Bancomer S.A. (Mexico), <br> 7.63%, 02/11/2035<sup>(b)(f)</sup> <br>|  | 2500000 | &nbsp;&nbsp; 2675375 |
| Brundage-Bone Concrete Pumping <br> Holdings, Inc., 7.50%, <br> 02/01/2032<sup>(b)(c)</sup> <br>|  | 5692000 | &nbsp;&nbsp; 5802893 |
| Citigroup, Inc., 6.63%<sup>(f)(g)</sup> <br>|  | 5458000 | &nbsp;&nbsp; 5645898 |
|  |  |  | &nbsp;&nbsp; 14124166 |
| **Diversified Financial Services–4.09%** | **Diversified Financial Services–4.09%** | **Diversified Financial Services–4.09%** | **Diversified Financial Services–4.09%** |
| AerCap Ireland Capital DAC/AerCap <br> Global Aviation Trust (Ireland), <br> 6.95%, 03/10/2055<sup>(f)</sup> <br>|  | 5063000 | &nbsp;&nbsp; 5352652 |
| Freedom Mortgage Holdings LLC, <br> 8.38%, 04/01/2032<sup>(b)</sup> <br>|  | 2583000 | &nbsp;&nbsp; 2604542 |
| GGAM Finance Ltd. (Ireland), <br> 5.88%, 03/15/2030<sup>(b)</sup> <br>|  | 5290000 | &nbsp;&nbsp; 5386913 |
| Global Aircraft Leasing Co. Ltd. <br> (Cayman Islands), 8.75%, <br> 09/01/2027<sup>(b)</sup> <br>|  | 7298000 | &nbsp;&nbsp; 7531550 |
| Jane Street Group/JSG Finance, Inc., | Jane Street Group/JSG Finance, Inc., |  |  |
| 6.13%, 11/01/2032<sup>(b)</sup> <br>|  | 5319000 | &nbsp;&nbsp; 5354829 |
| 6.75%, 05/01/2033<sup>(b)</sup> <br>|  | 4933000 | &nbsp;&nbsp; 5065940 |
| Osaic Holdings, Inc., | Osaic Holdings, Inc., |  |  |
| 6.75%, 08/01/2032<sup>(b)</sup> <br>|  | 2525000 | &nbsp;&nbsp; 2549909 |
| 8.00%, 08/01/2033<sup>(b)</sup> <br>|  | 2500000 | &nbsp;&nbsp; 2493201 |
| Phoenix Aviation Capital Ltd. <br> (Ireland), 9.25%, <br> 07/15/2030<sup>(b)</sup> <br>|  | 1379000 | &nbsp;&nbsp; 1445879 |
| Provident Funding Associates <br> L.P./PFG Finance Corp., 9.75%, <br> 09/15/2029<sup>(b)</sup> <br>|  | 7241000 | &nbsp;&nbsp; 7528417 |
|  |  |  | &nbsp;&nbsp; 45313832 |
| **Diversified Real Estate Activities–0.51%** | **Diversified Real Estate Activities–0.51%** | **Diversified Real Estate Activities–0.51%** | **Diversified Real Estate Activities–0.51%** |
| Velocity Commercial Capital LLC, <br> 9.38%, 02/15/2031<sup>(b)</sup> <br>|  | 5540000 | &nbsp;&nbsp; 5620680 |
| **Diversified REITs–0.87%** | **Diversified REITs–0.87%** | **Diversified REITs–0.87%** | **Diversified REITs–0.87%** |
| Iron Mountain Information <br> Management Services, Inc., <br> 5.00%, 07/15/2032<sup>(b)</sup> <br>|  | 6183000 | &nbsp;&nbsp; 5987929 |
| Uniti Group L.P./Uniti Group Finance <br> 2019, Inc./CSL Capital LLC, <br> 8.63%, 06/15/2032<sup>(b)</sup> <br>|  | 3559000 | &nbsp;&nbsp; 3612588 |
|  |  |  | &nbsp;&nbsp; 9600517 |
| **Diversified Support Services–0.91%** | **Diversified Support Services–0.91%** | **Diversified Support Services–0.91%** | **Diversified Support Services–0.91%** |
| RB Global Holdings, Inc. (Canada), | RB Global Holdings, Inc. (Canada), |  |  |
| 6.75%, 03/15/2028<sup>(b)</sup> <br>|  | 7262000 | &nbsp;&nbsp; 7388301 |
| 7.75%, 03/15/2031<sup>(b)</sup> <br>|  | 2601000 | &nbsp;&nbsp; 2707420 |
|  |  |  | &nbsp;&nbsp; 10095721 |

---

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

**3**

**Invesco High Yield Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Electric Utilities–2.81%** | **Electric Utilities–2.81%** | **Electric Utilities–2.81%** | **Electric Utilities–2.81%** |
| Brookfield Infrastructure Finance <br> ULC (Canada), 6.75%, <br> 03/15/2055<sup>(f)</sup> <br>|  | $7562000 | &nbsp;&nbsp; $7705920 |
| California Buyer Ltd./Atlantica <br> Sustainable Infrastructure PLC <br> (United Kingdom), 6.38%, <br> 02/15/2032<sup>(b)</sup> <br>|  | 7918000 | &nbsp;&nbsp; 7899844 |
| Hawaiian Electric Co., Inc., 6.00%, <br> 10/01/2033<sup>(b)</sup> <br>|  | 8051000 | &nbsp;&nbsp; 8209903 |
| Vistra Operations Co. LLC, 6.88%, <br> 04/15/2032<sup>(b)</sup> <br>|  | 6909000 | &nbsp;&nbsp; 7271653 |
|  |  |  | &nbsp;&nbsp; 31087320 |
| **Electrical Components & Equipment–0.46%** | **Electrical Components & Equipment–0.46%** | **Electrical Components & Equipment–0.46%** | **Electrical Components & Equipment–0.46%** |
| EnerSys, 6.63%, 01/15/2032<sup>(b)</sup> <br>|  | 4965000 | &nbsp;&nbsp; 5127509 |
| **Electronic Components–0.49%** | **Electronic Components–0.49%** | **Electronic Components–0.49%** | **Electronic Components–0.49%** |
| Sensata Technologies, Inc., | Sensata Technologies, Inc., |  |  |
| 3.75%, 02/15/2031<sup>(b)</sup> <br>|  | 2471000 | &nbsp;&nbsp; 2331268 |
| 6.63%, 07/15/2032<sup>(b)(c)</sup> <br>|  | 2963000 | &nbsp;&nbsp; 3104477 |
|  |  |  | &nbsp;&nbsp; 5435745 |
| **Environmental & Facilities Services–0.73%** | **Environmental & Facilities Services–0.73%** | **Environmental & Facilities Services–0.73%** | **Environmental & Facilities Services–0.73%** |
| GFL Environmental Holdings (US), <br> Inc., 5.50%, 02/01/2034<sup>(b)</sup> <br>|  | 4400000 | &nbsp;&nbsp; 4421327 |
| Wrangler Holdco Corp. (Canada), <br> 6.63%, 04/01/2032<sup>(b)</sup> <br>|  | 3502000 | &nbsp;&nbsp; 3655741 |
|  |  |  | &nbsp;&nbsp; 8077068 |
| **Fertilizers & Agricultural Chemicals–0.09%** | **Fertilizers & Agricultural Chemicals–0.09%** | **Fertilizers & Agricultural Chemicals–0.09%** | **Fertilizers & Agricultural Chemicals–0.09%** |
| FMC Corp., 3.45%, 10/01/2029 |  | 1115000 | &nbsp;&nbsp; 985056 |
| **Gold–0.98%** | **Gold–0.98%** | **Gold–0.98%** | **Gold–0.98%** |
| New Gold, Inc. (Canada), 6.88%, <br> 04/01/2032<sup>(b)</sup> <br>|  | 10207000 | &nbsp;&nbsp; 10885225 |
| **Health Care Equipment–0.49%** | **Health Care Equipment–0.49%** | **Health Care Equipment–0.49%** | **Health Care Equipment–0.49%** |
| Hologic, Inc., 3.25%, <br> 02/15/2029<sup>(b)</sup> <br>|  | 5445000 | &nbsp;&nbsp; 5419964 |
| **Health Care Facilities–0.97%** | **Health Care Facilities–0.97%** | **Health Care Facilities–0.97%** | **Health Care Facilities–0.97%** |
| Acadia Healthcare Co., Inc., <br> 7.38%, 03/15/2033<sup>(b)(c)</sup> <br>|  | 2765000 | &nbsp;&nbsp; 2857898 |
| Tenet Healthcare Corp., | Tenet Healthcare Corp., |  |  |
| 4.25%, 06/01/2029 |  | 3284000 | &nbsp;&nbsp; 3240591 |
| 6.75%, 05/15/2031 |  | 1910000 | &nbsp;&nbsp; 1988357 |
| 5.50%, 11/15/2032<sup>(b)</sup> <br>|  | 2220000 | &nbsp;&nbsp; 2249042 |
| 6.00%, 11/15/2033<sup>(b)</sup> <br>|  | 444000 | &nbsp;&nbsp; 459116 |
|  |  |  | &nbsp;&nbsp; 10795004 |
| **Health Care REITs–0.59%** | **Health Care REITs–0.59%** | **Health Care REITs–0.59%** | **Health Care REITs–0.59%** |
| Diversified Healthcare Trust, | Diversified Healthcare Trust, |  |  |
| 7.25%, 10/15/2030<sup>(b)</sup> <br>|  | 4062000 | &nbsp;&nbsp; 4229094 |
| 4.38%, 03/01/2031 |  | 1286000 | &nbsp;&nbsp; 1164145 |
| MPT Operating Partnership L.P./MPT <br> Finance Corp., | MPT Operating Partnership L.P./MPT <br> Finance Corp., |  |  |
| 4.63%, 08/01/2029 |  | 643000 | &nbsp;&nbsp; 556122 |
| 3.50%, 03/15/2031 |  | 760000 | &nbsp;&nbsp; 581894 |
|  |  |  | &nbsp;&nbsp; 6531255 |
| **Health Care Services–1.42%** | **Health Care Services–1.42%** | **Health Care Services–1.42%** | **Health Care Services–1.42%** |
| Community Health Systems, Inc., | Community Health Systems, Inc., |  |  |
| 5.25%, 05/15/2030<sup>(b)</sup> <br>|  | 3970000 | &nbsp;&nbsp; 3817441 |
| 4.75%, 02/15/2031<sup>(b)</sup> <br>|  | 4945000 | &nbsp;&nbsp; 4540926 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Health Care Services–(continued)** | **Health Care Services–(continued)** | **Health Care Services–(continued)** | **Health Care Services–(continued)** |
| DaVita, Inc., | DaVita, Inc., |  |  |
| 6.88%, 09/01/2032<sup>(b)</sup> <br>|  | $2451000 | &nbsp;&nbsp; $2548332 |
| 6.75%, 07/15/2033<sup>(b)</sup> <br>|  | 2599000 | &nbsp;&nbsp; 2700343 |
| MPH Acquisition Holdings LLC, <br> 5.00% PIK Rate, 6.50% Cash <br> Rate, 12/31/2030<sup>(b)(e)</sup> <br>|  | 2424119 | &nbsp;&nbsp; 2169489 |
|  |  |  | &nbsp;&nbsp; 15776531 |
| **Home Improvement Retail–0.04%** | **Home Improvement Retail–0.04%** | **Home Improvement Retail–0.04%** | **Home Improvement Retail–0.04%** |
| LBM Acquisition LLC, 6.25%, <br> 01/15/2029<sup>(b)</sup> <br>|  | 584000 | &nbsp;&nbsp; 445839 |
| **Hotel & Resort REITs–0.61%** | **Hotel & Resort REITs–0.61%** | **Hotel & Resort REITs–0.61%** | **Hotel & Resort REITs–0.61%** |
| RLJ Lodging Trust L.P., 4.00%, <br> 09/15/2029<sup>(b)(c)</sup> <br>|  | 4293000 | &nbsp;&nbsp; 4110246 |
| Service Properties Trust, 8.88%, <br> 06/15/2032<br>|  | 2620000 | &nbsp;&nbsp; 2631955 |
|  |  |  | &nbsp;&nbsp; 6742201 |
| **Hotels, Resorts & Cruise Lines–0.24%** | **Hotels, Resorts & Cruise Lines–0.24%** | **Hotels, Resorts & Cruise Lines–0.24%** | **Hotels, Resorts & Cruise Lines–0.24%** |
| Marriott Ownership Resorts, Inc., <br> 6.50%, 10/01/2033<sup>(b)</sup> <br>|  | 2752000 | &nbsp;&nbsp; 2670219 |
| **Housewares & Specialties–0.47%** | **Housewares & Specialties–0.47%** | **Housewares & Specialties–0.47%** | **Housewares & Specialties–0.47%** |
| Newell Brands, Inc., | Newell Brands, Inc., |  |  |
| 6.63%, 09/15/2029<sup>(c)</sup> <br>|  | 2425000 | &nbsp;&nbsp; 2464814 |
| 6.38%, 05/15/2030<sup>(c)</sup> <br>|  | 2750000 | &nbsp;&nbsp; 2760648 |
|  |  |  | &nbsp;&nbsp; 5225462 |
| **Independent Power Producers & Energy Traders–2.46%** | **Independent Power Producers & Energy Traders–2.46%** | **Independent Power Producers & Energy Traders–2.46%** | **Independent Power Producers & Energy Traders–2.46%** |
| Saavi Energia S.a.r.l. (Mexico), <br> 8.88%, 02/10/2035<sup>(b)</sup> <br>|  | 2500000 | &nbsp;&nbsp; 2763125 |
| Vistra Corp., | Vistra Corp., |  |  |
| 8.00%<sup>(b)(f)(g)</sup> <br>|  | 2888000 | &nbsp;&nbsp; 2943857 |
| Series C, 8.88%<sup>(b)(f)(g)</sup> <br>|  | 9609000 | &nbsp;&nbsp; 10622269 |
| VoltaGrid LLC, 7.38%, <br> 11/01/2030<sup>(b)</sup> <br>|  | 10488000 | &nbsp;&nbsp; 10956407 |
|  |  |  | &nbsp;&nbsp; 27285658 |
| **Industrial Machinery & Supplies & Components–1.45%** | **Industrial Machinery & Supplies & Components–1.45%** | **Industrial Machinery & Supplies & Components–1.45%** | **Industrial Machinery & Supplies & Components–1.45%** |
| Enpro, Inc., 6.13%, <br> 06/01/2033<sup>(b)</sup> <br>|  | 5216000 | &nbsp;&nbsp; 5396202 |
| ESAB Corp., 6.25%, <br> 04/15/2029<sup>(b)</sup> <br>|  | 5145000 | &nbsp;&nbsp; 5280355 |
| Roller Bearing Co. of America, Inc., <br> 4.38%, 10/15/2029<sup>(b)</sup> <br>|  | 5484000 | &nbsp;&nbsp; 5411400 |
|  |  |  | &nbsp;&nbsp; 16087957 |
| **Insurance Brokers–1.53%** | **Insurance Brokers–1.53%** | **Insurance Brokers–1.53%** | **Insurance Brokers–1.53%** |
| Alliant Holdings Intermediate LLC/<br> Alliant Holdings Co-Issuer, <br> 7.00%, 01/15/2031<sup>(b)</sup> <br>|  | 5043000 | &nbsp;&nbsp; 5138035 |
| Ardonagh Finco Ltd. (United <br> Kingdom), 7.75%, <br> 02/15/2031<sup>(b)</sup> <br>|  | 550000 | &nbsp;&nbsp; 563519 |
| Ardonagh Group Finance Ltd. <br> (United Kingdom), 8.88%, <br> 02/15/2032<sup>(b)</sup> <br>|  | 550000 | &nbsp;&nbsp; 543329 |
| Howden UK Refinance PLC/Howden <br> UK Refinance 2 PLC/Howden US <br> Refinance LLC (United Kingdom), <br> 8.13%, 02/15/2032<sup>(b)</sup> <br>|  | 3236000 | &nbsp;&nbsp; 3101020 |

---

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

**4**

**Invesco High Yield Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Insurance Brokers–(continued)** | **Insurance Brokers–(continued)** | **Insurance Brokers–(continued)** | **Insurance Brokers–(continued)** |
| HUB International Ltd., | HUB International Ltd., |  |  |
| 7.25%, 06/15/2030<sup>(b)</sup> <br>|  | $2418000 | &nbsp;&nbsp; $2495447 |
| 7.38%, 01/31/2032<sup>(b)</sup> <br>|  | 2504000 | &nbsp;&nbsp; 2550198 |
| USI, Inc., 7.50%, 01/15/2032<sup>(b)</sup> <br>|  | 2451000 | &nbsp;&nbsp; 2511672 |
|  |  |  | &nbsp;&nbsp; 16903220 |
| **Integrated Oil & Gas–0.45%** | **Integrated Oil & Gas–0.45%** | **Integrated Oil & Gas–0.45%** | **Integrated Oil & Gas–0.45%** |
| Ecopetrol S.A. (Colombia), 6.88%, <br> 04/29/2030<br>|  | 2500000 | &nbsp;&nbsp; 2519644 |
| Petroleos Mexicanos (Mexico), <br> 6.63%, 06/15/2035<br>|  | 2581000 | &nbsp;&nbsp; 2471946 |
|  |  |  | &nbsp;&nbsp; 4991590 |
| **Integrated Telecommunication Services–6.21%** | **Integrated Telecommunication Services–6.21%** | **Integrated Telecommunication Services–6.21%** | **Integrated Telecommunication Services–6.21%** |
| Altice France Lux 3/Altice Holdings <br> 1 (Luxembourg), 10.00%, <br> 01/15/2033<sup>(b)</sup> <br>|  | 2930000 | &nbsp;&nbsp; 2756861 |
| Altice France S.A. (France), <br> 6.88%, 07/15/2032<sup>(b)</sup> <br>|  | 7851652 | &nbsp;&nbsp; 7546755 |
| Cipher Compute LLC, 7.13%, <br> 11/15/2030<sup>(b)</sup> <br>|  | 5247000 | &nbsp;&nbsp; 5475738 |
| FiberCop S.p.A. (Italy), | FiberCop S.p.A. (Italy), |  |  |
| 6.00%, 09/30/2034<sup>(b)</sup> <br>|  | 5671000 | &nbsp;&nbsp; 5573140 |
| 7.20%, 07/18/2036<sup>(b)</sup> <br>|  | 2671000 | &nbsp;&nbsp; 2714734 |
| Iliad Holding S.A.S. (France), | Iliad Holding S.A.S. (France), |  |  |
| 8.50%, 04/15/2031<sup>(b)</sup> <br>|  | 7306000 | &nbsp;&nbsp; 7831513 |
| 7.00%, 04/15/2032<sup>(b)</sup> <br>|  | 2986000 | &nbsp;&nbsp; 3069046 |
| Level 3 Financing, Inc., | Level 3 Financing, Inc., |  |  |
| 3.63%, 01/15/2029<sup>(b)</sup> <br>|  | 277000 | &nbsp;&nbsp; 261073 |
| 3.75%, 07/15/2029<sup>(b)</sup> <br>|  | 473000 | &nbsp;&nbsp; 440216 |
| 6.88%, 06/30/2033<sup>(b)</sup> <br>|  | 2360000 | &nbsp;&nbsp; 2446057 |
| 7.00%, 03/31/2034<sup>(b)</sup> <br>|  | 5754332 | &nbsp;&nbsp; 5986257 |
| 8.50%, 01/15/2036<sup>(b)</sup> <br>|  | 2325000 | &nbsp;&nbsp; 2423253 |
| SV RNO Property Owner 1 LLC, <br> 5.88%, 03/01/2031<sup>(b)</sup> <br>|  | 4012000 | &nbsp;&nbsp; 4032801 |
| Telecom Italia Capital S.A. (Italy), | Telecom Italia Capital S.A. (Italy), |  |  |
| 6.38%, 11/15/2033 |  | 2997000 | &nbsp;&nbsp; 3185407 |
| 7.72%, 06/04/2038 |  | 2331000 | &nbsp;&nbsp; 2666120 |
| Uniti Services LLC, 7.50%, <br> 10/15/2033<sup>(b)</sup> <br>|  | 6533000 | &nbsp;&nbsp; 6801911 |
| WULF Compute LLC, 7.75%, <br> 10/15/2030<sup>(b)</sup> <br>|  | 5224000 | &nbsp;&nbsp; 5536259 |
|  |  |  | &nbsp;&nbsp; 68747141 |
| **Interactive Media & Services–0.89%** | **Interactive Media & Services–0.89%** | **Interactive Media & Services–0.89%** | **Interactive Media & Services–0.89%** |
| Discovery Global Holdings, Inc., | Discovery Global Holdings, Inc., |  |  |
| 4.28%, 03/15/2032<sup>(c)</sup> <br>|  | 1262000 | &nbsp;&nbsp; 1161040 |
| 5.05%, 03/15/2042 |  | 4397000 | &nbsp;&nbsp; 3099885 |
| 5.14%, 03/15/2052 |  | 1480000 | &nbsp;&nbsp; 973100 |
| Getty Images, Inc., 10.50%, <br> 11/15/2030<sup>(b)</sup> <br>|  | 5236000 | &nbsp;&nbsp; 4639010 |
|  |  |  | &nbsp;&nbsp; 9873035 |
| **Internet Services & Infrastructure–0.74%** | **Internet Services & Infrastructure–0.74%** | **Internet Services & Infrastructure–0.74%** | **Internet Services & Infrastructure–0.74%** |
| Beignet Investor LLC, 6.58%, <br> 05/30/2049<sup>(b)</sup> <br>|  | 5149000 | &nbsp;&nbsp; 5471604 |
| CoreWeave, Inc., | CoreWeave, Inc., |  |  |
| 9.25%, 06/01/2030<sup>(b)(c)</sup> <br>|  | 1236000 | &nbsp;&nbsp; 1211885 |
| 9.00%, 02/01/2031<sup>(b)(c)</sup> <br>|  | 1518000 | &nbsp;&nbsp; 1466565 |
|  |  |  | &nbsp;&nbsp; 8150054 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Leisure Facilities–0.48%** | **Leisure Facilities–0.48%** | **Leisure Facilities–0.48%** | **Leisure Facilities–0.48%** |
| Six Flags Entertainment Corp., <br> 7.25%, 05/15/2031<sup>(b)(c)</sup> <br>|  | $5400000 | &nbsp;&nbsp; $5305151 |
| **Managed Health Care–0.14%** | **Managed Health Care–0.14%** | **Managed Health Care–0.14%** | **Managed Health Care–0.14%** |
| Molina Healthcare, Inc., 6.25%, <br> 01/15/2033<sup>(b)</sup> <br>|  | 1550000 | &nbsp;&nbsp; 1525946 |
| **Marine Transportation–1.46%** | **Marine Transportation–1.46%** | **Marine Transportation–1.46%** | **Marine Transportation–1.46%** |
| Danaos Corp. (Greece), 6.88%, <br> 10/15/2032<sup>(b)</sup> <br>|  | 5420000 | &nbsp;&nbsp; 5594202 |
| Viking Cruises Ltd., 5.88%, <br> 10/15/2033<sup>(b)</sup> <br>|  | 10404000 | &nbsp;&nbsp; 10619831 |
|  |  |  | &nbsp;&nbsp; 16214033 |
| **Movies & Entertainment–0.72%** | **Movies & Entertainment–0.72%** | **Movies & Entertainment–0.72%** | **Movies & Entertainment–0.72%** |
| Starz Capital Holdings 1, Inc., <br> 6.00%, 04/15/2030<sup>(b)</sup> <br>|  | 8563000 | &nbsp;&nbsp; 7974294 |
| **Office REITs–0.25%** | **Office REITs–0.25%** | **Office REITs–0.25%** | **Office REITs–0.25%** |
| Office Properties Income Trust, <br> 9.00%, 12/31/2059<sup>(b)(d)</sup> <br>|  | 3775000 | &nbsp;&nbsp; 2774625 |
| **Oil & Gas Drilling–1.19%** | **Oil & Gas Drilling–1.19%** | **Oil & Gas Drilling–1.19%** | **Oil & Gas Drilling–1.19%** |
| Summit Midstream Holdings LLC, <br> 8.63%, 10/31/2029<sup>(b)</sup> <br>|  | 4994000 | &nbsp;&nbsp; 5230191 |
| Transocean International Ltd., | Transocean International Ltd., |  |  |
| 7.88%, 10/15/2032<sup>(b)</sup> <br>|  | 5392000 | &nbsp;&nbsp; 5792216 |
| 6.80%, 03/15/2038 |  | 2176000 | &nbsp;&nbsp; 2109837 |
|  |  |  | &nbsp;&nbsp; 13132244 |
| **Oil & Gas Equipment & Services–1.22%** | **Oil & Gas Equipment & Services–1.22%** | **Oil & Gas Equipment & Services–1.22%** | **Oil & Gas Equipment & Services–1.22%** |
| Bristow Group, Inc., 6.75%, <br> 02/01/2033<sup>(b)</sup> <br>|  | 5400000 | &nbsp;&nbsp; 5482517 |
| Tidewater, Inc., 9.13%, <br> 07/15/2030<sup>(b)</sup> <br>|  | 7458000 | &nbsp;&nbsp; 8073561 |
|  |  |  | &nbsp;&nbsp; 13556078 |
| **Oil & Gas Exploration & Production–1.65%** | **Oil & Gas Exploration & Production–1.65%** | **Oil & Gas Exploration & Production–1.65%** | **Oil & Gas Exploration & Production–1.65%** |
| Caturus Energy LLC, 8.50%, <br> 02/15/2030<sup>(b)</sup> <br>|  | 7571000 | &nbsp;&nbsp; 7915988 |
| Comstock Resources, Inc., 6.75%, <br> 03/01/2029<sup>(b)</sup> <br>|  | 5050000 | &nbsp;&nbsp; 5034264 |
| Hilcorp Energy I L.P./Hilcorp Finance Co., | Hilcorp Energy I L.P./Hilcorp Finance Co., |  |  |
| 6.25%, 04/15/2032<sup>(b)</sup> <br>|  | 1101000 | &nbsp;&nbsp; 1072067 |
| 8.38%, 11/01/2033<sup>(b)</sup> <br>|  | 1537000 | &nbsp;&nbsp; 1622849 |
| 6.88%, 05/15/2034<sup>(b)</sup> <br>|  | 2077000 | &nbsp;&nbsp; 2034743 |
| 7.25%, 02/15/2035<sup>(b)(c)</sup> <br>|  | 624000 | &nbsp;&nbsp; 618432 |
|  |  |  | &nbsp;&nbsp; 18298343 |
| **Oil & Gas Refining & Marketing–1.73%** | **Oil & Gas Refining & Marketing–1.73%** | **Oil & Gas Refining & Marketing–1.73%** | **Oil & Gas Refining & Marketing–1.73%** |
| Calumet Specialty Products <br> Partners L.P./. Calumet Finance <br> Corp., 9.75%, 02/15/2031<sup>(b)</sup> <br>|  | 5266000 | &nbsp;&nbsp; 5613767 |
| Sunoco L.P., | Sunoco L.P., |  |  |
| 5.63%, 03/15/2031<sup>(b)</sup> <br>|  | 2369000 | &nbsp;&nbsp; 2390479 |
| 6.25%, 07/01/2033<sup>(b)</sup> <br>|  | 3928000 | &nbsp;&nbsp; 4047670 |
| 5.88%, 03/15/2034<sup>(b)</sup> <br>|  | 4400000 | &nbsp;&nbsp; 4419774 |
| 7.88%<sup>(b)(f)(g)</sup> <br>|  | 2595000 | &nbsp;&nbsp; 2684385 |
|  |  |  | &nbsp;&nbsp; 19156075 |

---

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

**5**

**Invesco High Yield Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Oil & Gas Storage & Transportation–5.62%** | **Oil & Gas Storage & Transportation–5.62%** | **Oil & Gas Storage & Transportation–5.62%** | **Oil & Gas Storage & Transportation–5.62%** |
| Antero Midstream Partners L.P./Antero <br> Midstream Finance Corp., | Antero Midstream Partners L.P./Antero <br> Midstream Finance Corp., |  |  |
| 6.63%, 02/01/2032<sup>(b)</sup> <br>|  | $4878000 | &nbsp;&nbsp; $5073584 |
| 5.75%, 07/01/2034<sup>(b)</sup> <br>|  | 5649000 | &nbsp;&nbsp; 5739960 |
| Excelerate Energy L.P., 8.00%, <br> 05/15/2030<sup>(b)</sup> <br>|  | 4947000 | &nbsp;&nbsp; 5246299 |
| Genesis Energy L.P./Genesis Energy <br> Finance Corp., | Genesis Energy L.P./Genesis Energy <br> Finance Corp., |  |  |
| 7.88%, 05/15/2032 |  | 3748000 | &nbsp;&nbsp; 3925790 |
| 8.00%, 05/15/2033 |  | 3660000 | &nbsp;&nbsp; 3871969 |
| 6.75%, 03/15/2034 |  | 3135000 | &nbsp;&nbsp; 3172902 |
| Global Partners L.P./GLP Finance <br> Corp., 7.13%, 07/01/2033<sup>(b)</sup> <br>|  | 5301000 | &nbsp;&nbsp; 5494868 |
| New Fortress Energy, Inc., 6.50%, <br> 09/30/2026<sup>(b)</sup> <br>|  | 819000 | &nbsp;&nbsp; 78382 |
| Northriver Midstream Finance L.P. <br> (Canada), 6.75%, <br> 07/15/2032<sup>(b)</sup> <br>|  | 4971000 | &nbsp;&nbsp; 5114791 |
| Venture Global LNG, Inc., | Venture Global LNG, Inc., |  |  |
| 9.88%, 02/01/2032<sup>(b)(c)</sup> <br>|  | 7479000 | &nbsp;&nbsp; 7929041 |
| 9.00%<sup>(b)(f)(g)</sup> <br>|  | 6235000 | &nbsp;&nbsp; 5457564 |
| Venture Global Plaquemines LNG LLC, | Venture Global Plaquemines LNG LLC, |  |  |
| 6.13%, 12/15/2030<sup>(b)</sup> <br>|  | 2950000 | &nbsp;&nbsp; 3065914 |
| 6.50%, 01/15/2034<sup>(b)</sup> <br>|  | 4514000 | &nbsp;&nbsp; 4753012 |
| 6.75%, 01/15/2036<sup>(b)</sup> <br>|  | 3087000 | &nbsp;&nbsp; 3290143 |
|  |  |  | &nbsp;&nbsp; 62214219 |
| **Other Specialized REITs–0.43%** | **Other Specialized REITs–0.43%** | **Other Specialized REITs–0.43%** | **Other Specialized REITs–0.43%** |
| Iron Mountain, Inc., 4.50%, <br> 02/15/2031<sup>(b)</sup> <br>|  | 4963000 | &nbsp;&nbsp; 4790610 |
| **Other Specialty Retail–1.36%** | **Other Specialty Retail–1.36%** | **Other Specialty Retail–1.36%** | **Other Specialty Retail–1.36%** |
| Michaels Companies, Inc. (The), | Michaels Companies, Inc. (The), |  |  |
| 8.50%, 03/15/2033<sup>(b)</sup> <br>|  | 4591000 | &nbsp;&nbsp; 4469774 |
| 11.00%, 03/15/2034<sup>(b)</sup> <br>|  | 932000 | &nbsp;&nbsp; 871935 |
| PetSmart LLC/PetSmart Finance <br> Corp., 10.00%, 09/15/2033<sup>(b)</sup> <br>|  | 7653000 | &nbsp;&nbsp; 7682477 |
| SGUS LLC, 11.00%, <br> 12/31/2049<sup>(b)(d)</sup> <br>|  | 1300645 | &nbsp;&nbsp; 35768 |
| Staples, Inc., | Staples, Inc., |  |  |
| 10.75%, 09/01/2029<sup>(b)</sup> <br>|  | 1717000 | &nbsp;&nbsp; 1576917 |
| 12.75%, 01/15/2030<sup>(b)</sup> <br>|  | 539000 | &nbsp;&nbsp; 379433 |
|  |  |  | &nbsp;&nbsp; 15016304 |
| **Paper & Plastic Packaging Products & Materials–0.71%** | **Paper & Plastic Packaging Products & Materials–0.71%** | **Paper & Plastic Packaging Products & Materials–0.71%** | **Paper & Plastic Packaging Products & Materials–0.71%** |
| Clydesdale Acquisition Holdings, Inc., | Clydesdale Acquisition Holdings, Inc., |  |  |
| 8.75%, 04/15/2030<sup>(b)</sup> <br>|  | 2651000 | &nbsp;&nbsp; 2641554 |
| 6.75%, 04/15/2032<sup>(b)</sup> <br>|  | 5226000 | &nbsp;&nbsp; 5269562 |
|  |  |  | &nbsp;&nbsp; 7911116 |
| **Passenger Airlines–2.47%** | **Passenger Airlines–2.47%** | **Passenger Airlines–2.47%** | **Passenger Airlines–2.47%** |
| American Airlines, Inc./AAdvantage <br> Loyalty IP Ltd., 5.75%, <br> 04/20/2029<sup>(b)</sup> <br>|  | 5328000 | &nbsp;&nbsp; 5391865 |
| CHC Group LLC, 11.75%, <br> 09/01/2030<sup>(b)</sup> <br>|  | 5209000 | &nbsp;&nbsp; 5142670 |
| Grupo Aeromexico, S.A.B. De C.V. <br> (Mexico), 8.25%, <br> 11/15/2029<sup>(b)</sup> <br>|  | 2500000 | &nbsp;&nbsp; 2565625 |
| JetBlue Airways Corp./JetBlue <br> Loyalty L.P., 9.88%, <br> 09/20/2031<sup>(b)(c)</sup> <br>|  | 535000 | &nbsp;&nbsp; 544176 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Passenger Airlines–(continued)** | **Passenger Airlines–(continued)** | **Passenger Airlines–(continued)** | **Passenger Airlines–(continued)** |
| United Airlines Holdings, Inc., | United Airlines Holdings, Inc., |  |  |
| 4.88%, 03/01/2029 |  | $5987000 | &nbsp;&nbsp; $6045153 |
| 5.38%, 03/01/2031 |  | 7454000 | &nbsp;&nbsp; 7609114 |
|  |  |  | &nbsp;&nbsp; 27298603 |
| **Personal Care Products–0.49%** | **Personal Care Products–0.49%** | **Personal Care Products–0.49%** | **Personal Care Products–0.49%** |
| Opal Bidco SAS (France), 6.50%, <br> 03/31/2032<sup>(b)</sup> <br>|  | 5261000 | &nbsp;&nbsp; 5422234 |
| **Pharmaceuticals–1.84%** | **Pharmaceuticals–1.84%** | **Pharmaceuticals–1.84%** | **Pharmaceuticals–1.84%** |
| 1261229 BC Ltd., 10.00%, <br> 04/15/2032<sup>(b)</sup> <br>|  | 10067000 | &nbsp;&nbsp; 10419422 |
| Amneal Pharmaceuticals LLC, <br> 6.88%, 08/01/2032<sup>(b)</sup> <br>|  | 1581000 | &nbsp;&nbsp; 1664127 |
| Bausch Health Cos., Inc. (Canada), | Bausch Health Cos., Inc. (Canada), |  |  |
| 5.00%, 02/15/2029<sup>(b)</sup> <br>|  | 851000 | &nbsp;&nbsp; 643203 |
| 6.25%, 02/15/2029<sup>(b)</sup> <br>|  | 950000 | &nbsp;&nbsp; 751688 |
| 5.25%, 01/30/2030<sup>(b)</sup> <br>|  | 1198000 | &nbsp;&nbsp; 839816 |
| 5.25%, 02/15/2031<sup>(b)</sup> <br>|  | 956000 | &nbsp;&nbsp; 624593 |
| Teva Pharmaceutical Finance <br> Netherlands III B.V. (Israel), <br> 4.10%, 10/01/2046<br>|  | 7045000 | &nbsp;&nbsp; 5419469 |
|  |  |  | &nbsp;&nbsp; 20362318 |
| **Property & Casualty Insurance–0.74%** | **Property & Casualty Insurance–0.74%** | **Property & Casualty Insurance–0.74%** | **Property & Casualty Insurance–0.74%** |
| Asurion LLC and Asurion Co-Issuer, Inc., | Asurion LLC and Asurion Co-Issuer, Inc., |  |  |
| 8.00%, 12/31/2032<sup>(b)</sup> <br>|  | 5389000 | &nbsp;&nbsp; 5664744 |
| 8.38%, 02/01/2034<sup>(b)</sup> <br>|  | 2493000 | &nbsp;&nbsp; 2482496 |
|  |  |  | &nbsp;&nbsp; 8147240 |
| **Real Estate Development–0.23%** | **Real Estate Development–0.23%** | **Real Estate Development–0.23%** | **Real Estate Development–0.23%** |
| Sobha Sukuk I Holding Ltd. (United <br> Arab Emirates), 7.13%, <br> 09/11/2030<sup>(b)</sup> <br>|  | 2500000 | &nbsp;&nbsp; 2574313 |
| **Research & Consulting Services–0.23%** | **Research & Consulting Services–0.23%** | **Research & Consulting Services–0.23%** | **Research & Consulting Services–0.23%** |
| Clarivate Science Holdings Corp., <br> 4.88%, 07/01/2029<sup>(b)</sup> <br>|  | 3072000 | &nbsp;&nbsp; 2523368 |
| **Security & Alarm Services–0.47%** | **Security & Alarm Services–0.47%** | **Security & Alarm Services–0.47%** | **Security & Alarm Services–0.47%** |
| Brink's Co. (The), 6.75%, <br> 06/15/2032<sup>(b)</sup> <br>|  | 5071000 | &nbsp;&nbsp; 5252466 |
| **Semiconductors–0.92%** | **Semiconductors–0.92%** | **Semiconductors–0.92%** | **Semiconductors–0.92%** |
| AP Grange Holdings LLC, | AP Grange Holdings LLC, |  |  |
| 6.50%, 03/20/2045<sup>(b)</sup> <br>|  | 4303000 | &nbsp;&nbsp; 4545044 |
| 6.50%, 03/20/2045 |  | 330032 | &nbsp;&nbsp; 330032 |
| Kioxia Holdings Corp. (Japan), <br> 6.63%, 07/24/2033<sup>(b)</sup> <br>|  | 5000000 | &nbsp;&nbsp; 5273800 |
|  |  |  | &nbsp;&nbsp; 10148876 |
| **Sovereign Debt–0.96%** | **Sovereign Debt–0.96%** | **Sovereign Debt–0.96%** | **Sovereign Debt–0.96%** |
| Brazilian Government International <br> Bond (Brazil), 6.63%, <br> 03/15/2035<br>|  | 5000000 | &nbsp;&nbsp; 5257150 |
| Mexico Government International <br> Bond (Mexico), Series 10, <br> 5.63%, 09/22/2035<br>|  | 5432000 | &nbsp;&nbsp; 5423852 |
|  |  |  | &nbsp;&nbsp; 10681002 |
| **Specialized Consumer Services–0.74%** | **Specialized Consumer Services–0.74%** | **Specialized Consumer Services–0.74%** | **Specialized Consumer Services–0.74%** |
| Carriage Services, Inc., 4.25%, <br> 05/15/2029<sup>(b)</sup> <br>|  | 8446000 | &nbsp;&nbsp; 8139056 |

---

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

**6**

**Invesco High Yield Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Specialized Finance–1.44%** | **Specialized Finance–1.44%** | **Specialized Finance–1.44%** | **Specialized Finance–1.44%** |
| HA Sustainable Infrastructure Capital, <br> Inc., | HA Sustainable Infrastructure Capital, <br> Inc., |  |  |
| 8.00%, 06/01/2056<sup>(f)</sup> <br>|  | $5263000 | &nbsp;&nbsp; $5545097 |
| 7.13%, 11/15/2056<sup>(f)</sup> <br>|  | 2599000 | &nbsp;&nbsp; 2598857 |
| TrueNoord Capital DAC (Ireland), <br> 8.75%, 03/01/2030<sup>(b)</sup> <br>|  | 7378000 | &nbsp;&nbsp; 7798804 |
|  |  |  | &nbsp;&nbsp; 15942758 |
| **Specialty Chemicals–0.49%** | **Specialty Chemicals–0.49%** | **Specialty Chemicals–0.49%** | **Specialty Chemicals–0.49%** |
| Celanese US Holdings LLC, | Celanese US Holdings LLC, |  |  |
| 7.20%, 11/15/2033 |  | 3675000 | &nbsp;&nbsp; 3950923 |
| 7.38%, 02/15/2034<sup>(c)</sup> <br>|  | 1419000 | &nbsp;&nbsp; 1458696 |
|  |  |  | &nbsp;&nbsp; 5409619 |
| **Trading Companies & Distributors–0.97%** | **Trading Companies & Distributors–0.97%** | **Trading Companies & Distributors–0.97%** | **Trading Companies & Distributors–0.97%** |
| Air Lease Corp., Series B, <br> 4.65%<sup>(f)(g)</sup> <br>|  | 5413000 | &nbsp;&nbsp; 5410160 |
| Aircastle Ltd., 5.25%<sup>(b)(f)(g)</sup> <br>|  | 5278000 | &nbsp;&nbsp; 5278653 |
|  |  |  | &nbsp;&nbsp; 10688813 |
| **Wireless Telecommunication Services–0.96%** | **Wireless Telecommunication Services–0.96%** | **Wireless Telecommunication Services–0.96%** | **Wireless Telecommunication Services–0.96%** |
| Vodafone Group PLC (United <br> Kingdom), 4.13%, <br> 06/04/2081<sup>(f)</sup> <br>|  | 11256000 | &nbsp;&nbsp; 10666190 |
| Total U.S. Dollar Denominated Bonds & Notes <br> (Cost $929,779,259) | Total U.S. Dollar Denominated Bonds & Notes <br> (Cost $929,779,259) | Total U.S. Dollar Denominated Bonds & Notes <br> (Cost $929,779,259) | &nbsp;&nbsp; 940782283 |
| **Variable Rate Senior Loan Interests–6.54%**<sup>(h)(i)</sup>  | **Variable Rate Senior Loan Interests–6.54%**<sup>(h)(i)</sup>  | **Variable Rate Senior Loan Interests–6.54%**<sup>(h)(i)</sup>  | **Variable Rate Senior Loan Interests–6.54%**<sup>(h)(i)</sup>  |
| **Advertising–0.43%** | **Advertising–0.43%** | **Advertising–0.43%** | **Advertising–0.43%** |
| Clear Channel Outdoor Holdings, <br> Inc., Term Loan B, 7.79% (1 <br> mo. Term SOFR + 4.11%), <br> 08/23/2028<br>|  | 4735863 | &nbsp;&nbsp; 4762502 |
| **Aerospace & Defense–0.94%** | **Aerospace & Defense–0.94%** | **Aerospace & Defense–0.94%** | **Aerospace & Defense–0.94%** |
| TransDigm, Inc., Term Loan L, <br> 6.17% (3 mo. Term SOFR + <br> 2.50%), 01/19/2032<br>|  | 10391450 | &nbsp;&nbsp; 10397113 |
| **Cable & Satellite–0.17%** | **Cable & Satellite–0.17%** | **Cable & Satellite–0.17%** | **Cable & Satellite–0.17%** |
| CSC Holdings LLC, Term Loan, <br> 7.71% (3 mo. PRIME + 2.50%), <br> 04/15/2027<br>|  | 2107458 | &nbsp;&nbsp; 1826250 |
| **Electronic Manufacturing Services–0.71%** | **Electronic Manufacturing Services–0.71%** | **Electronic Manufacturing Services–0.71%** | **Electronic Manufacturing Services–0.71%** |
| EMRLD Borrower L.P. (Copeland), <br> Incremental Term Loan B, <br> 6.12% (3 mo. Term SOFR + <br> 2.50%), 08/04/2031<br>|  | 7851261 | &nbsp;&nbsp; 7832378 |
| **Health Care Services–0.26%** | **Health Care Services–0.26%** | **Health Care Services–0.26%** | **Health Care Services–0.26%** |
| MPH Acquisition Holdings LLC, Term <br> Loan, 7.42% (3 mo. Term SOFR <br> + 3.75%), 12/31/2030<br>|  | 2896607 | &nbsp;&nbsp; 2864745 |
| **Health Care Supplies–0.47%** | **Health Care Supplies–0.47%** | **Health Care Supplies–0.47%** | **Health Care Supplies–0.47%** |
| Bausch and Lomb, Inc., Term Loan <br> B, 7.42% (1 mo. SOFR + <br> 3.75%), 01/30/2031<br>|  | 5174000 | &nbsp;&nbsp; 5185642 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Office REITs–0.06%** | **Office REITs–0.06%** | **Office REITs–0.06%** | **Office REITs–0.06%** |
| Office Properties Income Trust, | Office Properties Income Trust, |  |  |
| DIP Term Loan, 12.00%, <br> 05/04/2026<br>|  | $436195 | &nbsp;&nbsp; $436195 |
| Term Loan, 12.00%, <br> 05/04/2026<br>|  | 185066 | &nbsp;&nbsp; 185066 |
|  |  |  | &nbsp;&nbsp; 621261 |
| **Oil & Gas Storage & Transportation–0.49%** | **Oil & Gas Storage & Transportation–0.49%** | **Oil & Gas Storage & Transportation–0.49%** | **Oil & Gas Storage & Transportation–0.49%** |
| New Fortress Energy, Inc., Term <br> Loan B, 9.24% (3 mo. Term <br> SOFR + 5.50%), 10/30/2028<br>|  | 723183 | &nbsp;&nbsp; 352277 |
| Prairie Acquiror L.P., Term Loan B, <br> 6.92%, 08/01/2029<br>|  | 5105199 | &nbsp;&nbsp; 5121790 |
|  |  |  | &nbsp;&nbsp; 5474067 |
| **Paper & Plastic Packaging Products & Materials–0.26%** | **Paper & Plastic Packaging Products & Materials–0.26%** | **Paper & Plastic Packaging Products & Materials–0.26%** | **Paper & Plastic Packaging Products & Materials–0.26%** |
| Iris Holding, Inc. (Intertape), First <br> Lien Term Loan, 8.52% (3 mo. <br> Term SOFR + 4.75%), <br> 06/28/2028<br>|  | 2970000 | &nbsp;&nbsp; 2907749 |
| **Pharmaceuticals–0.80%** | **Pharmaceuticals–0.80%** | **Pharmaceuticals–0.80%** | **Pharmaceuticals–0.80%** |
| Amneal Pharmaceuticals LLC, Term <br> Loan, 6.67%, 08/01/2032<br>|  | 3665813 | &nbsp;&nbsp; 3673438 |
| Endo Finance Holdings L.P., Term <br> Loan B, 7.42% (1 mo. Term <br> SOFR + 3.75%), 04/23/2031<br>|  | 5204585 | &nbsp;&nbsp; 5216946 |
|  |  |  | &nbsp;&nbsp; 8890384 |
| **Real Estate Development–1.46%** | **Real Estate Development–1.46%** | **Real Estate Development–1.46%** | **Real Estate Development–1.46%** |
| Cushman & Wakefield U.S. Borrower LLC, | Cushman & Wakefield U.S. Borrower LLC, |  |  |
| Term Loan, <br>6.17% (1 mo. Term SOFR <br> +2.50%), 01/31/2030<br>|  | 381244 | &nbsp;&nbsp; 382673 |
| 6.42% (1 mo. Term SOFR + <br> 2.75%), 01/31/2030<sup>(j)</sup> <br>|  | 4067403 | &nbsp;&nbsp; 4082656 |
| Greystar Real Estate Partners LLC, <br> Term Loan B, 6.17% (3 mo. <br> Term SOFR + 2.50%), <br> 08/21/2030<sup>(j)</sup> <br>|  | 5020536 | &nbsp;&nbsp; 5033088 |
| VCI Asset Holdings 2 LLC, Term <br> Loan, 9.50%, 02/06/2031<sup>(j)</sup> <br>|  | 6790000 | &nbsp;&nbsp; 6722100 |
|  |  |  | &nbsp;&nbsp; 16220517 |
| **Wireless Telecommunication Services–0.49%** | **Wireless Telecommunication Services–0.49%** | **Wireless Telecommunication Services–0.49%** | **Wireless Telecommunication Services–0.49%** |
| X Corp., Term Loan B, 9.50%, <br> 10/27/2029<br>|  | 5175000 | &nbsp;&nbsp; 5437631 |
| Total Variable Rate Senior Loan Interests <br> (Cost $72,535,337) | Total Variable Rate Senior Loan Interests <br> (Cost $72,535,337) | Total Variable Rate Senior Loan Interests <br> (Cost $72,535,337) | &nbsp;&nbsp; 72420239 |
|  | <br>**Shares** | <br>**Shares** |  |
| **Exchange-Traded Funds–2.70%** | **Exchange-Traded Funds–2.70%** | **Exchange-Traded Funds–2.70%** | **Exchange-Traded Funds–2.70%** |
| BondBloxx CCC-Rated USD High Yield <br> Corporate Bond ETF | BondBloxx CCC-Rated USD High Yield <br> Corporate Bond ETF | 214000 | &nbsp;&nbsp; 7977920 |
| VanEck J. P. Morgan EM Local Currency <br> Bond ETF<sup>(c)</sup>  | VanEck J. P. Morgan EM Local Currency <br> Bond ETF<sup>(c)</sup>  | 826000 | &nbsp;&nbsp; 21963340 |
| Total Exchange-Traded Funds <br> (Cost $29,785,340) | Total Exchange-Traded Funds <br> (Cost $29,785,340) | Total Exchange-Traded Funds <br> (Cost $29,785,340) | &nbsp;&nbsp; 29941260 |
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** |  |
| **Non-U.S. Dollar Denominated Bonds & Notes–1.76%**<sup>(k)</sup>  | **Non-U.S. Dollar Denominated Bonds & Notes–1.76%**<sup>(k)</sup>  | **Non-U.S. Dollar Denominated Bonds & Notes–1.76%**<sup>(k)</sup>  | **Non-U.S. Dollar Denominated Bonds & Notes–1.76%**<sup>(k)</sup>  |
| **Automotive Parts & Equipment–0.23%** | **Automotive Parts & Equipment–0.23%** | **Automotive Parts & Equipment–0.23%** | **Automotive Parts & Equipment–0.23%** |
| Clarios Global L.P./Clarios US <br> Finance Co., 4.75%, <br> 06/15/2031<sup>(b)</sup> <br>| EUR | 2150000 | &nbsp;&nbsp; 2596704 |

---

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

**7**

**Invesco High Yield Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Cable & Satellite–0.21%** | **Cable & Satellite–0.21%** | **Cable & Satellite–0.21%** | **Cable & Satellite–0.21%** |
| Virgin Media O2 Vendor Financing <br> Notes V DAC (Ireland), 7.88%, <br> 03/15/2032<sup>(b)</sup> <br>| GBP | 1800000 | &nbsp;&nbsp; $2325360 |
| **IT Consulting & Other Services–0.54%** | **IT Consulting & Other Services–0.54%** | **IT Consulting & Other Services–0.54%** | **IT Consulting & Other Services–0.54%** |
| Atos SE (France), 5.20%, <br> 12/18/2030<sup>(b)(l)</sup> <br>| EUR | 5400000 | &nbsp;&nbsp; 5967147 |
| **Marine Transportation–0.50%** | **Marine Transportation–0.50%** | **Marine Transportation–0.50%** | **Marine Transportation–0.50%** |
| CMA CGM S.A. (France), 4.88%, <br> 01/15/2032<sup>(b)</sup> <br>| EUR | 4775000 | &nbsp;&nbsp; 5588980 |
| **Transaction & Payment Processing Services–0.28%** | **Transaction & Payment Processing Services–0.28%** | **Transaction & Payment Processing Services–0.28%** | **Transaction & Payment Processing Services–0.28%** |
| Worldline S.A. (France), 4.13%, <br> 09/12/2028<sup>(b)</sup> <br>| EUR | 2800000 | &nbsp;&nbsp; 3042930 |
| Total Non-U.S. Dollar Denominated Bonds & Notes <br> (Cost $18,896,121) | Total Non-U.S. Dollar Denominated Bonds & Notes <br> (Cost $18,896,121) | Total Non-U.S. Dollar Denominated Bonds & Notes <br> (Cost $18,896,121) | &nbsp;&nbsp; 19521121 |
|  | <br>**Shares** | <br>**Shares** |  |
| **Common Stocks & Other Equity Interests–1.19%** | **Common Stocks & Other Equity Interests–1.19%** | **Common Stocks & Other Equity Interests–1.19%** | **Common Stocks & Other Equity Interests–1.19%** |
| **Alternative Carriers–0.03%** | **Alternative Carriers–0.03%** | **Alternative Carriers–0.03%** | **Alternative Carriers–0.03%** |
| Lumen Technologies, Inc.<sup>(m)</sup>  | Lumen Technologies, Inc.<sup>(m)</sup>  | 39000 | &nbsp;&nbsp; 277290 |
| **Apparel, Accessories & Luxury Goods–0.03%** | **Apparel, Accessories & Luxury Goods–0.03%** | **Apparel, Accessories & Luxury Goods–0.03%** | **Apparel, Accessories & Luxury Goods–0.03%** |
| Carter's, Inc. | Carter's, Inc. | 5000 | &nbsp;&nbsp; 167751 |
| Under Armour, Inc., Class C<sup>(m)</sup>  | Under Armour, Inc., Class C<sup>(m)</sup>  | 22000 | &nbsp;&nbsp; 159060 |
|  |  |  | &nbsp;&nbsp; 326811 |
| **Asset Management & Custody Banks–0.49%** | **Asset Management & Custody Banks–0.49%** | **Asset Management & Custody Banks–0.49%** | **Asset Management & Custody Banks–0.49%** |
| Ares Capital Corp. | Ares Capital Corp. | 144000 | &nbsp;&nbsp; 2681280 |
| Blue Owl Capital Corp., BDC<sup>(c)</sup>  | Blue Owl Capital Corp., BDC<sup>(c)</sup>  | 47000 | &nbsp;&nbsp; 530630 |
| Carlyle Secured Lending, Inc., BDC<sup>(c)</sup>  | Carlyle Secured Lending, Inc., BDC<sup>(c)</sup>  | 45000 | &nbsp;&nbsp; 500400 |
| Golub Capital BDC, Inc.<sup>(c)</sup>  | Golub Capital BDC, Inc.<sup>(c)</sup>  | 43000 | &nbsp;&nbsp; 515570 |
| Morgan Stanley Direct Lending Fund | Morgan Stanley Direct Lending Fund | 36000 | &nbsp;&nbsp; 532800 |
| Valor Compute Infrastructure L.P., | Valor Compute Infrastructure L.P., | 675000 | &nbsp;&nbsp; 675000 |
|  |  |  | &nbsp;&nbsp; 5435680 |
| **Broadcasting–0.07%** | **Broadcasting–0.07%** | **Broadcasting–0.07%** | **Broadcasting–0.07%** |
| E.W. Scripps Co. (The), Class A<sup>(m)</sup>  | E.W. Scripps Co. (The), Class A<sup>(m)</sup>  | 72000 | &nbsp;&nbsp; 298800 |
| Gray Media, Inc. | Gray Media, Inc. | 49000 | &nbsp;&nbsp; 254310 |
| Sinclair, Inc. | Sinclair, Inc. | 13000 | &nbsp;&nbsp; 212420 |
|  |  |  | &nbsp;&nbsp; 765530 |
| **Broadline Retail–0.00%** | **Broadline Retail–0.00%** | **Broadline Retail–0.00%** | **Broadline Retail–0.00%** |
| Americanas S.A. (Brazil)<sup>(m)</sup>  | Americanas S.A. (Brazil)<sup>(m)</sup>  | 41300 | &nbsp;&nbsp; 45275 |
| Americanas S.A., Wts., expiring <br> 03/19/2027 (Brazil)<sup>(m)</sup>  | Americanas S.A., Wts., expiring <br> 03/19/2027 (Brazil)<sup>(m)</sup>  | 13766 | &nbsp;&nbsp; 8056 |
|  |  |  | &nbsp;&nbsp; 53331 |
| **Cable & Satellite–0.05%** | **Cable & Satellite–0.05%** | **Cable & Satellite–0.05%** | **Cable & Satellite–0.05%** |
| Sirius XM Holdings, Inc.<sup>(c)</sup>  | Sirius XM Holdings, Inc.<sup>(c)</sup>  | 25000 | &nbsp;&nbsp; 549000 |
| **Casinos & Gaming–0.00%** | **Casinos & Gaming–0.00%** | **Casinos & Gaming–0.00%** | **Casinos & Gaming–0.00%** |
| Codere Online Luxembourg S.A., Wts., <br> expiring 10/15/2034 (Spain)<sup>(j)</sup>  | Codere Online Luxembourg S.A., Wts., <br> expiring 10/15/2034 (Spain)<sup>(j)</sup>  | 29 | &nbsp;&nbsp; 137 |
| **Closed-End Funds–0.05%** | **Closed-End Funds–0.05%** | **Closed-End Funds–0.05%** | **Closed-End Funds–0.05%** |
| Goldman Sachs BDC, Inc., BDC<sup>(c)</sup>  | Goldman Sachs BDC, Inc., BDC<sup>(c)</sup>  | 59000 | &nbsp;&nbsp; 534540 |
| **Food Retail–0.00%** | **Food Retail–0.00%** | **Food Retail–0.00%** | **Food Retail–0.00%** |
| Casino Guichard-Perrachon S.A. <br> (France)<sup>(m)</sup>  | Casino Guichard-Perrachon S.A. <br> (France)<sup>(m)</sup>  | 28014 | &nbsp;&nbsp; 7733 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; <br> **Shares** | &nbsp;&nbsp; <br> **Shares** | **Value** |
| **Food Retail–(continued)** | **Food Retail–(continued)** | **Food Retail–(continued)** | **Food Retail–(continued)** |
| Casino Guichard-Perrachon S.A., Wts., <br> expiring 04/27/2029 (France)<sup>(m)</sup>  | Casino Guichard-Perrachon S.A., Wts., <br> expiring 04/27/2029 (France)<sup>(m)</sup>  | 1495460 | &nbsp;&nbsp; $884 |
|  |  |  | &nbsp;&nbsp; 8617 |
| **Independent Power Producers & Energy Traders–0.08%** | **Independent Power Producers & Energy Traders–0.08%** | **Independent Power Producers & Energy Traders–0.08%** | **Independent Power Producers & Energy Traders–0.08%** |
| Vistra Corp. | Vistra Corp. | 5000 | &nbsp;&nbsp; 869450 |
| **Integrated Telecommunication Services–0.27%** | **Integrated Telecommunication Services–0.27%** | **Integrated Telecommunication Services–0.27%** | **Integrated Telecommunication Services–0.27%** |
| Altice France Holding S.A. (Luxembourg) | Altice France Holding S.A. (Luxembourg) | 8070 | &nbsp;&nbsp; 1299 |
| Altice France S.A. (France) | Altice France S.A. (France) | 160996 | &nbsp;&nbsp; 3018329 |
|  |  |  | &nbsp;&nbsp; 3019628 |
| **Movies & Entertainment–0.04%** | **Movies & Entertainment–0.04%** | **Movies & Entertainment–0.04%** | **Movies & Entertainment–0.04%** |
| Lionsgate Studios Corp.<sup>(m)</sup>  | Lionsgate Studios Corp.<sup>(m)</sup>  | 50000 | &nbsp;&nbsp; 450000 |
| **Oil & Gas Exploration & Production–0.04%** | **Oil & Gas Exploration & Production–0.04%** | **Oil & Gas Exploration & Production–0.04%** | **Oil & Gas Exploration & Production–0.04%** |
| Venture Global, Inc., Class A<sup>(c)</sup>  | Venture Global, Inc., Class A<sup>(c)</sup>  | 41000 | &nbsp;&nbsp; 397290 |
| **Other Specialized REITs–0.02%** | **Other Specialized REITs–0.02%** | **Other Specialized REITs–0.02%** | **Other Specialized REITs–0.02%** |
| Uniti Group, Inc.<sup>(c)(m)</sup>  | Uniti Group, Inc.<sup>(c)(m)</sup>  | 36116 | &nbsp;&nbsp; 264369 |
| **Research & Consulting Services–0.02%** | **Research & Consulting Services–0.02%** | **Research & Consulting Services–0.02%** | **Research & Consulting Services–0.02%** |
| Clarivate PLC<sup>(m)</sup>  | Clarivate PLC<sup>(m)</sup>  | 100000 | &nbsp;&nbsp; 230000 |
| **Technology Hardware, Storage & Peripherals–0.00%** | **Technology Hardware, Storage & Peripherals–0.00%** | **Technology Hardware, Storage & Peripherals–0.00%** | **Technology Hardware, Storage & Peripherals–0.00%** |
| Xerox Holdings Corp., Wts., expiring <br> 02/14/2028 | Xerox Holdings Corp., Wts., expiring <br> 02/14/2028 | 11000 | &nbsp;&nbsp; 1320 |
| Total Common Stocks & Other Equity Interests <br> (Cost $13,434,153) | Total Common Stocks & Other Equity Interests <br> (Cost $13,434,153) | Total Common Stocks & Other Equity Interests <br> (Cost $13,434,153) | &nbsp;&nbsp; 13182993 |
| **Preferred Stocks–0.52%** | **Preferred Stocks–0.52%** | **Preferred Stocks–0.52%** | **Preferred Stocks–0.52%** |
| **Electric Utilities–0.26%** | **Electric Utilities–0.26%** | **Electric Utilities–0.26%** | **Electric Utilities–0.26%** |
| NextEra Energy, Inc., 7.38%, Conv. Pfd. | NextEra Energy, Inc., 7.38%, Conv. Pfd. | 57407 | &nbsp;&nbsp; 2870350 |
| **Household Appliances–0.15%** | **Household Appliances–0.15%** | **Household Appliances–0.15%** | **Household Appliances–0.15%** |
| Whirlpool Corp., 8.50%, Class A, Pfd. | Whirlpool Corp., 8.50%, Class A, Pfd. | 33732 | &nbsp;&nbsp; 1681540 |
| **Systems Software–0.11%** | **Systems Software–0.11%** | **Systems Software–0.11%** | **Systems Software–0.11%** |
| Oracle Corp., 6.50%, Class D, Conv. Pfd. | Oracle Corp., 6.50%, Class D, Conv. Pfd. | 25473 | &nbsp;&nbsp; 1171503 |
| Total Preferred Stocks (Cost $5,830,600) | Total Preferred Stocks (Cost $5,830,600) | Total Preferred Stocks (Cost $5,830,600) | &nbsp;&nbsp; 5723393 |
| **Money Market Funds–1.42%** | **Money Market Funds–1.42%** | **Money Market Funds–1.42%** | **Money Market Funds–1.42%** |
| Invesco Government & Agency Portfolio, <br> Institutional Class, 3.59%<sup>(n)(o)</sup>  | Invesco Government & Agency Portfolio, <br> Institutional Class, 3.59%<sup>(n)(o)</sup>  | 5501818 | &nbsp;&nbsp; 5501818 |
| Invesco Treasury Portfolio, Institutional <br> Class, 3.56%<sup>(n)(o)</sup>  | Invesco Treasury Portfolio, Institutional <br> Class, 3.56%<sup>(n)(o)</sup>  | 10217662 | &nbsp;&nbsp; 10217662 |
| Total Money Market Funds (Cost $15,719,480) | Total Money Market Funds (Cost $15,719,480) | Total Money Market Funds (Cost $15,719,480) | &nbsp;&nbsp; 15719480 |
| **Options Purchased–0.02%** | **Options Purchased–0.02%** | **Options Purchased–0.02%** | **Options Purchased–0.02%** |
| (Cost $202,858)<sup>(p)</sup>  | (Cost $202,858)<sup>(p)</sup>  | (Cost $202,858)<sup>(p)</sup>  | &nbsp;&nbsp; 252750 |
| TOTAL INVESTMENTS IN SECURITIES <br> (excluding investments <br> purchased with cash collateral <br> from securities on <br> loan)-99.11% <br> (Cost $1,086,183,148)<br>|  |  | &nbsp;&nbsp; 1097543519 |
|  | <br>**Shares** | <br>**Shares** |  |
| **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–7.22%** | **Money Market Funds–7.22%** | **Money Market Funds–7.22%** | **Money Market Funds–7.22%** |
| Invesco Private Government Fund, <br> 3.64%<sup>(n)(o)(q)</sup>  | Invesco Private Government Fund, <br> 3.64%<sup>(n)(o)(q)</sup>  | 22272534 | &nbsp;&nbsp; 22272534 |

---

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

**8**

**Invesco High Yield Fund**

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; <br> **Shares** | &nbsp;&nbsp; <br> **Shares** | **Value** |
| **Money Market Funds–(continued)** | **Money Market Funds–(continued)** | **Money Market Funds–(continued)** |
| Invesco Private Prime Fund, <br> 3.81%<sup>(n)(o)(q)</sup>  | 57603468 | &nbsp;&nbsp; $57620749 |
| Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $79,893,283) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $79,893,283) | &nbsp;&nbsp; 79893283 |
| TOTAL INVESTMENTS IN SECURITIES–106.33% <br> (Cost $1,166,076,431) | TOTAL INVESTMENTS IN SECURITIES–106.33% <br> (Cost $1,166,076,431) | &nbsp;&nbsp; 1177436802 |
| OTHER ASSETS LESS LIABILITIES—(6.33)% | OTHER ASSETS LESS LIABILITIES—(6.33)% | &nbsp;&nbsp; (70091968)<br>|
| NET ASSETS–100.00% | NET ASSETS–100.00% | &nbsp;&nbsp; $1107344834 |

---

Investment Abbreviations:

---

| | |
|:---|:---|
| BDC | – Business Development Company |
| Conv. | – Convertible |
| DIP | – Debtor-in-Possession |
| ETF | – Exchange-Traded Fund |
| EUR | – Euro |
| GBP | – British Pound Sterling |
| Pfd. | – Preferred |
| PIK | – Pay-in-Kind |
| REIT | – Real Estate Investment Trust |
| SOFR | – Secured Overnight Financing Rate |
| USD | – U.S. Dollar |
| Wts. | – Warrants |

---

Notes to Schedule of Investments:

<sup>(a)</sup> Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. 

<sup>(b)</sup> Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at February 28, 2026 was $800,374,811, which represented 72.28% of the Fund's Net Assets. 

<sup>(c)</sup> All or a portion of this security was out on loan at February 28, 2026.

<sup>(d)</sup> Defaulted security. Currently, the issuer is in default with respect to principal and/or interest payments. The aggregate value of these securities at February 28, 2026 was $2,830,343, which represented less than 1% of the Fund's Net Assets. 

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

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

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

<sup>(h)</sup> Variable rate senior loan interests often require prepayments from excess cash flow or permit the borrower to repay at its election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with any accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, it is anticipated that the variable rate senior loan interests will have an expected average life of three to five years. 

<sup>(i)</sup> Variable rate senior loan interests are, at present, not readily marketable, not registered under the 1933 Act and may be subject to contractual and legal restrictions on sale. Variable rate senior loan interests in the Fund's portfolio generally have variable rates which adjust to a base, such as the Secured Overnight Financing Rate ("SOFR"), on set dates, typically every 30 days, but not greater than one year, and/or have interest rates that float at margin above a widely recognized base lending rate such as the Prime Rate of a designated U.S. bank. 

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

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

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

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

<sup>(n)</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 fiscal year ended February 28, 2026. 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**February 28, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**February 28, 2026**<br>| **Dividend Income** |
| **Investments in Affiliated Money Market** <br> **Funds:**<br>|  |  |  |  |  |  |  |
| Invesco Government & Agency Portfolio, <br> Institutional Class<br>| $10461156 | &nbsp;&nbsp; $253335424 | &nbsp;&nbsp; $(258294762) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $5501818 | &nbsp;&nbsp; $357524 |
| Invesco Treasury Portfolio, Institutional Class | 19427352 | &nbsp;&nbsp; 470480073 | &nbsp;&nbsp; (479689763) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 10217662 | &nbsp;&nbsp; 654130 |

---

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

**9**

**Invesco High Yield Fund**

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **February 28, 2025**<br>| **Purchases**<br> **at Cost**<br>| **Proceeds**<br> **from Sales**<br>| **Change in**<br> **Unrealized**<br> **Appreciation**<br>| **Realized**<br> **Gain**<br>| **Value**<br> **February 28, 2026**<br>| **Dividend Income** |
| **Investments Purchased with Cash** <br> **Collateral from Securities on Loan:**<br>|  |  |  |  |  |  |  |
| Invesco Private Government Fund | $6262 | &nbsp;&nbsp; $224037286 | &nbsp;&nbsp; $(201771014) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $22272534 | &nbsp;&nbsp; $460,148\* |
| Invesco Private Prime Fund | 17551 | &nbsp;&nbsp; 413288736 | &nbsp;&nbsp; (355689052) | &nbsp;&nbsp; - | &nbsp;&nbsp; 3514 | &nbsp;&nbsp; 57620749 | &nbsp;&nbsp; 1,295,578\* |
| Total | $29912321 | &nbsp;&nbsp; $1361141519 | &nbsp;&nbsp; $(1295444591) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $3514 | &nbsp;&nbsp; $95612763 | &nbsp;&nbsp; $2767380 |

---

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

<sup>(o)</sup> The rate shown is the 7-day SEC standardized yield as of February 28, 2026.

<sup>(p)</sup> The table below details options purchased.

<sup>(q)</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. See Note 1J. 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Open Exchange-Traded Equity Options Purchased** | **Open Exchange-Traded Equity Options Purchased** | **Open Exchange-Traded Equity Options Purchased** | **Open Exchange-Traded Equity Options Purchased** | **Open Exchange-Traded Equity Options Purchased** | **Open Exchange-Traded Equity Options Purchased** | **Open Exchange-Traded Equity Options Purchased** | **Open Exchange-Traded Equity Options Purchased** |
| **Description** | &nbsp;&nbsp;&nbsp; **Expiration** <br>**Date**<br>| &nbsp;&nbsp; **Number of** <br>**Contracts**<br>| &nbsp;&nbsp;&nbsp; **Exercise** <br>**Price** | &nbsp;&nbsp;&nbsp; **Exercise** <br>**Price** | &nbsp;&nbsp;&nbsp; **Notional** <br>**Value**<sup>(a)</sup>  | &nbsp;&nbsp;&nbsp; **Notional** <br>**Value**<sup>(a)</sup>  | **Value** |
| **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** | **Equity Risk** |
| iShares Expanded Tech-Software Sector ETF<br> Call | 04/17/2026 | &nbsp;&nbsp;&nbsp; 250 | USD | 85.00 | USD | 2125000 | &nbsp;&nbsp;&nbsp; $71250 |
| Netflix, Inc.<br> Call | 01/15/2027 | &nbsp;&nbsp;&nbsp; 100 | USD | 91.00 | USD | 910000 | &nbsp;&nbsp;&nbsp; 181500 |
| Total Exchange-Traded Equity Options Purchased | Total Exchange-Traded Equity Options Purchased |  |  |  |  |  | &nbsp;&nbsp;&nbsp; $252750 |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  |
| **Short Futures Contracts** | &nbsp;&nbsp; **Number of**<br> **Contracts**<br>| &nbsp;&nbsp;&nbsp; **Expiration**<br> **Month**<br>| &nbsp;&nbsp; **Notional**<br> **Value**<br>| **Value** | &nbsp;&nbsp; **Unrealized**<br> **Appreciation**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)**<br>|
| **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** |
| U.S. Treasury 10 Year Ultra Notes | &nbsp;&nbsp;&nbsp; 385 | June-2026 | &nbsp;&nbsp;&nbsp; $(44942734)<br>| &nbsp;&nbsp;&nbsp; $(241268)<br>| &nbsp;&nbsp;&nbsp; $(241268)<br>|

---

<sup>(a)</sup> Futures contracts collateralized by $981,750 cash held with Merrill Lynch International, the futures commission merchant.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** |
| **Settlement** <br>**Date** | **Counterparty** | **Contract to** | **Contract to** | **Contract to** | **Contract to** | &nbsp;&nbsp; **Unrealized** <br>**Appreciation** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)** |
| **Settlement** <br>**Date** | **Counterparty** | **Deliver** | **Deliver** | **Receive** | **Receive** | &nbsp;&nbsp; **Unrealized** <br>**Appreciation** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)** |
| **Currency Risk** |  |  |  |  |  |  |
| 04/28/2026 | Barclays Bank PLC | EUR | 17610000 | USD | 21030047 | &nbsp;&nbsp;&nbsp; $166319 |
| **Currency Risk** |  |  |  |  |  |  |
| 04/28/2026 | Barclays Bank PLC | EUR | 1800000 | USD | 2124587 | &nbsp;&nbsp;&nbsp; (7992)<br>|
| 04/28/2026 | Canadian Imperial Bank of Commerce | EUR | 23678000 | USD | 27932281 | &nbsp;&nbsp;&nbsp; (120606)<br>|
| 04/28/2026 | Canadian Imperial Bank of Commerce | GBP | 1600000 | USD | 2154053 | &nbsp;&nbsp;&nbsp; (2570)<br>|
| 04/28/2026 | Canadian Imperial Bank of Commerce | USD | 2120417 | GBP | 1571000 | &nbsp;&nbsp;&nbsp; (2882)<br>|
| 04/28/2026 | Goldman Sachs International | EUR | 98000 | USD | 115610 | &nbsp;&nbsp;&nbsp; (497)<br>|
| 04/28/2026 | HSBC Bank USA | USD | 20159739 | EUR | 17000000 | &nbsp;&nbsp;&nbsp; (18719)<br>|
| 04/28/2026 | State Street Bank & Trust Co. | USD | 6925825 | EUR | 5800000 | &nbsp;&nbsp;&nbsp; (54182)<br>|
| 04/28/2026 | State Street Bank & Trust Co. | USD | 307291 | GBP | 225000 | &nbsp;&nbsp;&nbsp; (4017)<br>|
| Subtotal—Depreciation | Subtotal—Depreciation | Subtotal—Depreciation | Subtotal—Depreciation | Subtotal—Depreciation | Subtotal—Depreciation | &nbsp;&nbsp;&nbsp; (211465)<br>|
| Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp; $(45146)<br>|

---

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Open Centrally Cleared Credit Default Swap Agreements**<sup>(a)</sup>  | **Open Centrally Cleared Credit Default Swap Agreements**<sup>(a)</sup>  | **Open Centrally Cleared Credit Default Swap Agreements**<sup>(a)</sup>  | **Open Centrally Cleared Credit Default Swap Agreements**<sup>(a)</sup>  | **Open Centrally Cleared Credit Default Swap Agreements**<sup>(a)</sup>  | **Open Centrally Cleared Credit Default Swap Agreements**<sup>(a)</sup>  | **Open Centrally Cleared Credit Default Swap Agreements**<sup>(a)</sup>  | **Open Centrally Cleared Credit Default Swap Agreements**<sup>(a)</sup>  | **Open Centrally Cleared Credit Default Swap Agreements**<sup>(a)</sup>  | **Open Centrally Cleared Credit Default Swap Agreements**<sup>(a)</sup>  | **Open Centrally Cleared Credit Default Swap Agreements**<sup>(a)</sup>  |
| **Reference Entity** | &nbsp;&nbsp; **Buy/Sell** <br>**Protection**<br>| **(Pay)/** <br>**Receive** <br>**Fixed** <br>**Rate**<br>| &nbsp;&nbsp; **Payment** <br>**Frequency**<br>| **Maturity Date** | **Implied** <br>**Credit** <br>**Spread**<sup>(b)</sup> <br>| **Notional Value** | **Notional Value** | **Upfront** <br>**Payments Paid** <br>**(Received)**<br>| **Value** | **Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>|
| **Credit Risk** | **Credit Risk** | **Credit Risk** | **Credit Risk** | **Credit Risk** | **Credit Risk** | **Credit Risk** | **Credit Risk** | **Credit Risk** | **Credit Risk** | **Credit Risk** |
| Markit CDX North America High Yield <br> Index, Series 45, Version 2<br>| Sell | 5.00% | Quarterly | &nbsp;&nbsp; 12/20/2030 | 3.305% | USD | 39600000 | &nbsp;&nbsp; $2803858 | &nbsp;&nbsp; $2675416 | &nbsp;&nbsp; $(128442)<br>|

---

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

**10**

**Invesco High Yield Fund**

------

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

<sup>(a)</sup> Centrally cleared swap agreements collateralized by $3,045,632 cash held with Counterparties.

<sup>(b)</sup> Implied credit spreads represent the current level, as of February 28, 2026, at which protection could be bought or sold given the terms of the existing credit default swap agreement and serve as an indicator of the current status of the payment/performance risk of the credit default swap agreement. An implied credit spread that has widened or increased since entry into the initial agreement may indicate a deteriorating credit profile and increased risk of default for the reference entity. A declining or narrowing spread may indicate an improving credit profile or decreased risk of default for the reference entity. Alternatively, credit spreads may increase or decrease reflecting the general tolerance for risk in the credit markets generally. 

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| ETF | —Exchange-Traded Fund |
| EUR | —Euro |
| GBP | —British Pound Sterling |
| USD | —U.S. Dollar |

---

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

**11**

**Invesco High Yield Fund**

------

**Statement of Assets and Liabilities**

*February 28, 2026*

---

| | |
|:---|:---|
| **Assets:** |  |
| Investments in unaffiliated securities, at value <br>(Cost $1,070,463,668)\*<br>| &nbsp;&nbsp; $1081824039 |
| Investments in affiliated money market funds, at value <br> (Cost $95,612,763)<br>| &nbsp;&nbsp; 95612763 |
| Other investments: |  |
| Unrealized appreciation on forward foreign currency <br> contracts outstanding<br>| &nbsp;&nbsp; 166319 |
| Deposits with brokers: |  |
| Cash collateral — exchange-traded futures contracts | &nbsp;&nbsp; 981750 |
| Cash collateral — centrally cleared swap agreements | &nbsp;&nbsp; 3045632 |
| Foreign currencies, at value (Cost $5,531,203) | &nbsp;&nbsp; 5548619 |
| Due from broker | &nbsp;&nbsp; 573804 |
| Receivable for: |  |
| Investments sold | &nbsp;&nbsp; 3375753 |
| Fund shares sold | &nbsp;&nbsp; 388511 |
| Dividends | &nbsp;&nbsp; 54793 |
| Interest | &nbsp;&nbsp; 18400138 |
| Investment for trustee deferred compensation and <br> retirement plans<br>| &nbsp;&nbsp; 304734 |
| Other assets | &nbsp;&nbsp; 79794 |
| Total assets | &nbsp;&nbsp; 1210356649 |
| **Liabilities:** |  |
| Other investments: |  |
| Variation margin payable — futures contracts | &nbsp;&nbsp; 204455 |
| Variation margin payable — centrally cleared swap <br> agreements<br>| &nbsp;&nbsp; 178351 |
| Unrealized depreciation on forward foreign currency <br> contracts outstanding<br>| &nbsp;&nbsp; 211465 |
| Payable for: |  |
| Investments purchased | &nbsp;&nbsp; 17511920 |
| Dividends | &nbsp;&nbsp; 979974 |
| Fund shares reacquired | &nbsp;&nbsp; 1017910 |
| Amount due to custodian | &nbsp;&nbsp; 2130959 |
| Collateral upon return of securities loaned | &nbsp;&nbsp; 79893283 |
| Accrued fees to affiliates | &nbsp;&nbsp; 379615 |
| Accrued trustees' and officers' fees and benefits | &nbsp;&nbsp; 3224 |
| Accrued other operating expenses | &nbsp;&nbsp; 153211 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 347448 |
| Total liabilities | &nbsp;&nbsp; 103011815 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $1107344834 |

---

---

| | |
|:---|:---|
| **Net assets consist of:** |  |
| Shares of beneficial interest | &nbsp;&nbsp; $1417173496 |
| Distributable earnings (loss) | &nbsp;&nbsp; (309828662)<br>|
|  | &nbsp;&nbsp; $1107344834 |
| **Net Assets:** | **Net Assets:** |
| Class A | &nbsp;&nbsp; $596690468 |
| Class C | &nbsp;&nbsp; $14979111 |
| Class Y | &nbsp;&nbsp; $42667833 |
| Investor Class | &nbsp;&nbsp; $55613535 |
| Class R5 | &nbsp;&nbsp; $18087230 |
| Class R6 | &nbsp;&nbsp; $379306657 |
| **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** | **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** |
| Class A | &nbsp;&nbsp; 167944698 |
| Class C | &nbsp;&nbsp; 4222451 |
| Class Y | &nbsp;&nbsp; 11993969 |
| Investor Class | &nbsp;&nbsp; 15668988 |
| Class R5 | &nbsp;&nbsp; 5104264 |
| Class R6 | &nbsp;&nbsp; 106853064 |
| Class A: |  |
| Net asset value per share | &nbsp;&nbsp; $3.55 |
| Maximum offering price per share <br>(Net asset value of $3.55 ÷ 95.75%)<br>| &nbsp;&nbsp; $3.71 |
| Class C: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $3.55 |
| Class Y: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $3.56 |
| Investor Class: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $3.55 |
| Class R5: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $3.54 |
| Class R6: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $3.55 |

---

\* At February 28, 2026, securities with an aggregate value of $77,127,253 were on loan to brokers. 

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

**12**

**Invesco High Yield Fund**

------

**Statement of Operations**

*For the year ended February 28, 2026* 

---

| | |
|:---|:---|
| **Investment income:** |  |
| Interest | &nbsp;&nbsp; $76246060 |
| Dividends (net of foreign withholding taxes of $1,275) | &nbsp;&nbsp; 1261043 |
| Dividends from affiliated money market funds (includes net securities lending income of $207,097) | &nbsp;&nbsp; 1218751 |
| Total investment income | &nbsp;&nbsp; 78725854 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 5967089 |
| Administrative services fees | &nbsp;&nbsp; 161063 |
| Custodian fees | &nbsp;&nbsp; 34111 |
| Distribution fees: |  |
| Class A | &nbsp;&nbsp; 1476749 |
| Class C | &nbsp;&nbsp; 156296 |
| Investor Class | &nbsp;&nbsp; 140574 |
| Transfer agent fees — A, C, Y and Investor | &nbsp;&nbsp; 1035065 |
| Transfer agent fees — R5 | &nbsp;&nbsp; 16485 |
| Transfer agent fees — R6 | &nbsp;&nbsp; 156574 |
| Trustees' and officers' fees and benefits | &nbsp;&nbsp; 34117 |
| Registration and filing fees | &nbsp;&nbsp; 124870 |
| Reports to shareholders | &nbsp;&nbsp; 121332 |
| Professional services fees | &nbsp;&nbsp; 92306 |
| Other | &nbsp;&nbsp; 23280 |
| Total expenses | &nbsp;&nbsp; 9539911 |
| Less: Fees waived, expenses reimbursed and/or expense offset arrangement(s) | &nbsp;&nbsp; (51703)<br>|
| Net expenses | &nbsp;&nbsp; 9488208 |
| Net investment income | &nbsp;&nbsp; 69237646 |
| **Realized and unrealized gain (loss) from:** |  |
| Net realized gain (loss) from: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; (6204750)<br>|
| Affiliated investment securities | &nbsp;&nbsp; 3514 |
| Foreign currencies | &nbsp;&nbsp; 1011043 |
| Forward foreign currency contracts | &nbsp;&nbsp; (1833039)<br>|
| Futures contracts | &nbsp;&nbsp; (1073327)<br>|
| Swap agreements | &nbsp;&nbsp; (899011)<br>|
|  | &nbsp;&nbsp; (8995570)<br>|
| Change in net unrealized appreciation (depreciation) of: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 9667983 |
| Foreign currencies | &nbsp;&nbsp; 171564 |
| Forward foreign currency contracts | &nbsp;&nbsp; (117038)<br>|
| Futures contracts | &nbsp;&nbsp; (241268)<br>|
| Swap agreements | &nbsp;&nbsp; (128442)<br>|
|  | &nbsp;&nbsp; 9352799 |
| Net realized and unrealized gain | &nbsp;&nbsp; 357229 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $69594875 |

---

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

**13**

**Invesco High Yield Fund**

------

**Statement of Changes in Net Assets**

*For the years ended February 28, 2026 and 2025* 

---

| | | |
|:---|:---|:---|
|  | **2026** | **2025** |
| **Operations:** |  |  |
| Net investment income | &nbsp;&nbsp; $69237646 | &nbsp;&nbsp; $66346013 |
| Net realized gain (loss) | &nbsp;&nbsp; (8995570)<br>| &nbsp;&nbsp; 13518097 |
| Change in net unrealized appreciation | &nbsp;&nbsp; 9352799 | &nbsp;&nbsp; 8983126 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 69594875 | &nbsp;&nbsp; 88847236 |
| **Distributions to shareholders from distributable earnings:** |  |  |
| Class A | &nbsp;&nbsp; (38515574)<br>| &nbsp;&nbsp; (38110066)<br>|
| Class C | &nbsp;&nbsp; (900730)<br>| &nbsp;&nbsp; (966878)<br>|
| Class Y | &nbsp;&nbsp; (3065295)<br>| &nbsp;&nbsp; (5358682)<br>|
| Investor Class | &nbsp;&nbsp; (3661540)<br>| &nbsp;&nbsp; (3839942)<br>|
| Class R5 | &nbsp;&nbsp; (1123931)<br>| &nbsp;&nbsp; (1162261)<br>|
| Class R6 | &nbsp;&nbsp; (27593784)<br>| &nbsp;&nbsp; (20205577)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (74860854)<br>| &nbsp;&nbsp; (69643406)<br>|
| **Share transactions–net:** |  |  |
| Class A | &nbsp;&nbsp; 5687061 | &nbsp;&nbsp; 16122467 |
| Class C | &nbsp;&nbsp; (1537525)<br>| &nbsp;&nbsp; (609269)<br>|
| Class Y | &nbsp;&nbsp; (38826824)<br>| &nbsp;&nbsp; 13573857 |
| Investor Class | &nbsp;&nbsp; (990097)<br>| &nbsp;&nbsp; (679395)<br>|
| Class R5 | &nbsp;&nbsp; 1506314 | &nbsp;&nbsp; (83738)<br>|
| Class R6 | &nbsp;&nbsp; (42177722)<br>| &nbsp;&nbsp; 57790836 |
| Net increase (decrease) in net assets resulting from share transactions | &nbsp;&nbsp; (76338793)<br>| &nbsp;&nbsp; 86114758 |
| Net increase (decrease) in net assets | &nbsp;&nbsp; (81604772)<br>| &nbsp;&nbsp; 105318588 |
| **Net assets:** |  |  |
| Beginning of year | &nbsp;&nbsp; 1188949606 | &nbsp;&nbsp; 1083631018 |
| End of year | &nbsp;&nbsp; $1107344834 | &nbsp;&nbsp; $1188949606 |

---

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

**14**

**Invesco High Yield Fund**

------

**Financial Highlights**

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

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**to average** <br>**net assets**<br>| **Portfolio** <br>**turnover** <sup>(c)</sup> <br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year ended 02/28/26 | $3.57 | $0.21 | $(0.00)<br>| $0.21 | $(0.23)<br>| $3.55 | 6.11<br> %<br>| $596690 | 0.98<br> %<br>| 0.98<br> %<br>| 6.01<br> %<br>| 150<br> %<br>|
| Year ended 02/28/25 | 3.49 | 0.22 | 0.09 | 0.31 | (0.23)<br>| 3.57 | 9.25 | 593630 | 0.99 | 1.00 | 6.29 | 172 |
| Year ended 02/29/24 | 3.43 | 0.22 | 0.06 | 0.28 | (0.22)<br>| 3.49 | 8.54 | 565075 | 1.03 | 1.03 | 6.45 | 148 |
| Year ended 02/28/23 | 3.81 | 0.17 | (0.38)<br>| (0.21)<br>| (0.17)<br>| 3.43 | (5.36)<br>| 556275 | 1.03 | 1.03 | 4.94 | 87 |
| Year ended 02/28/22 | 3.97 | 0.15 | (0.13)<br>| 0.02 | (0.18)<br>| 3.81 | 0.36 | 640948 | 1.03 | 1.03 | 3.90 | 88 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year ended 02/28/26 | 3.56 | 0.19 | 0.00 | 0.19 | (0.20)<br>| 3.55 | 5.62 | 14979 | 1.73 | 1.73 | 5.26 | 150 |
| Year ended 02/28/25 | 3.49 | 0.20 | 0.08 | 0.28 | (0.21)<br>| 3.56 | 8.14 | 16594 | 1.74 | 1.75 | 5.54 | 172 |
| Year ended 02/29/24 | 3.42 | 0.20 | 0.07 | 0.27 | (0.20)<br>| 3.49 | 8.05 | 16838 | 1.78 | 1.78 | 5.70 | 148 |
| Year ended 02/28/23 | 3.80 | 0.15 | (0.38)<br>| (0.23)<br>| (0.15)<br>| 3.42 | (6.10)<br>| 16924 | 1.78 | 1.78 | 4.19 | 87 |
| Year ended 02/28/22 | 3.96 | 0.12 | (0.13)<br>| (0.01)<br>| (0.15)<br>| 3.80 | (0.40)<br>| 22626 | 1.78 | 1.78 | 3.15 | 88 |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| Year ended 02/28/26 | 3.58 | 0.22 | (0.00)<br>| 0.22 | (0.24)<br>| 3.56 | 6.38 | 42668 | 0.73 | 0.73 | 6.26 | 150 |
| Year ended 02/28/25 | 3.50 | 0.23 | 0.09 | 0.32 | (0.24)<br>| 3.58 | 9.51 | 83173 | 0.74 | 0.75 | 6.54 | 172 |
| Year ended 02/29/24 | 3.44 | 0.23 | 0.06 | 0.29 | (0.23)<br>| 3.50 | 8.81 | 67978 | 0.78 | 0.78 | 6.70 | 148 |
| Year ended 02/28/23 | 3.82 | 0.18 | (0.38)<br>| (0.20)<br>| (0.18)<br>| 3.44 | (5.09)<br>| 42874 | 0.78 | 0.78 | 5.19 | 87 |
| Year ended 02/28/22 | 3.98 | 0.16 | (0.13)<br>| 0.03 | (0.19)<br>| 3.82 | 0.63 | 45483 | 0.78 | 0.78 | 4.15 | 88 |
| **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** |
| Year ended 02/28/26 | 3.56 | 0.21 | 0.01 | 0.22 | (0.23)<br>| 3.55 | 6.40 | 55614 | 0.98 | 0.98 | 6.01 | 150 |
| Year ended 02/28/25 | 3.49 | 0.22 | 0.08 | 0.30 | (0.23)<br>| 3.56 | 8.95 | 56843 | 0.99 | 1.00 | 6.29 | 172 |
| Year ended 02/29/24 | 3.43 | 0.22 | 0.06 | 0.28 | (0.22)<br>| 3.49 | 8.54 | 56267 | 1.03 | 1.03 | 6.45 | 148 |
| Year ended 02/28/23 | 3.81 | 0.17 | (0.38)<br>| (0.21)<br>| (0.17)<br>| 3.43 | (5.37)<br>| 58755 | 1.03 | 1.03 | 4.94 | 87 |
| Year ended 02/28/22 | 3.97 | 0.15 | (0.13)<br>| 0.02 | (0.18)<br>| 3.81 | 0.36 | 68375 | 1.03 | 1.03 | 3.90 | 88 |
| **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** |
| Year ended 02/28/26 | 3.56 | 0.22 | (0.00)<br>| 0.22 | (0.24)<br>| 3.54 | 6.42 | 18087 | 0.68 | 0.68 | 6.31 | 150 |
| Year ended 02/28/25 | 3.48 | 0.23 | 0.09 | 0.32 | (0.24)<br>| 3.56 | 9.58 | 16671 | 0.68 | 0.69 | 6.60 | 172 |
| Year ended 02/29/24 | 3.42 | 0.23 | 0.06 | 0.29 | (0.23)<br>| 3.48 | 8.87 | 16389 | 0.71 | 0.71 | 6.77 | 148 |
| Year ended 02/28/23 | 3.80 | 0.18 | (0.37)<br>| (0.19)<br>| (0.19)<br>| 3.42 | (5.08)<br>| 18972 | 0.71 | 0.71 | 5.26 | 87 |
| Year ended 02/28/22 | 3.96 | 0.17 | (0.14)<br>| 0.03 | (0.19)<br>| 3.80 | 0.67 | 27997 | 0.72 | 0.72 | 4.21 | 88 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| Year ended 02/28/26 | 3.57 | 0.23 | (0.01)<br>| 0.22 | (0.24)<br>| 3.55 | 6.48 | 379307 | 0.62 | 0.62 | 6.37 | 150 |
| Year ended 02/28/25 | 3.49 | 0.24 | 0.09 | 0.33 | (0.25)<br>| 3.57 | 9.67 | 422039 | 0.60 | 0.61 | 6.68 | 172 |
| Year ended 02/29/24 | 3.43 | 0.23 | 0.07 | 0.30 | (0.24)<br>| 3.49 | 8.95 | 361083 | 0.64 | 0.64 | 6.84 | 148 |
| Year ended 02/28/23 | 3.81 | 0.19 | (0.38)<br>| (0.19)<br>| (0.19)<br>| 3.43 | (5.00)<br>| 71702 | 0.64 | 0.64 | 5.33 | 87 |
| Year ended 02/28/22 | 3.97 | 0.17 | (0.14)<br>| 0.03 | (0.19)<br>| 3.81 | 0.75 | 80390 | 0.64 | 0.64 | 4.29 | 88 |

---

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

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

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

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

**15**

**Invesco High Yield Fund**

------

**Notes to Financial Statements**

*February 28, 2026*

**NOTE 1—Significant Accounting Policies**

Invesco High Yield Fund (the "Fund") is a series portfolio of AIM Investment Securities Funds (Invesco Investment Securities Funds) (the "Trust"). The Trust is organized as a Delaware statutory trust and is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company authorized to issue an unlimited number of shares of beneficial interest. Information presented in these financial statements pertains only to the Fund. Matters affecting the Fund or each class will be voted on exclusively by the shareholders of the Fund or each class.

The Fund's investment objective is total return through growth of capital and current income.

The Fund currently consists of six different classes of shares: Class A, Class C, Class Y, Investor Class, Class R5 and Class R6. Class Y shares are available only to certain investors. Class A shares are sold with a front-end sales charge unless certain waiver criteria are met and under certain circumstances load waived shares may be subject to contingent deferred sales charges ("CDSC"). Class C shares are sold with a CDSC. Class Y, Investor Class, Class R5 and Class R6 shares are sold at net asset value. Class C shares held for eight years after purchase are eligible for automatic conversion into Class A shares of the same Fund (the "Conversion Feature"). The automatic conversion pursuant to the Conversion Feature will generally occur at the end of the month following the eighth anniversary after a purchase of Class C shares.

Investor Class and Class R5 shares are closed to new investors.

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

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

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

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

Variable rate senior loan interests are fair valued using quotes provided by an independent pricing service. Quotes provided by the pricing service may reflect appropriate factors such as ratings, tranche type, industry, company performance, spread, individual trading characteristics, institution-size trading in similar groups of securities and other market data.

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

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

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

Swap agreements are fair valued using an evaluated quote, if available, provided by an independent pricing service. Evaluated quotes provided by the pricing service are valued based on a model which may include end-of-day net present values, spreads, ratings, industry, company performance and returns of referenced assets. Centrally cleared swap agreements are valued at the daily settlement price determined by the relevant exchange or clearinghouse.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual periods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid by jurisdiction, while removing certain disclosure requirements. The Fund did not pay any material income taxes, net of refunds during the period.

**F.** **Expenses –** Fees provided for under the Rule 12b-1 plan of a particular class of the Fund are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses attributable to Class R5 and Class R6 are allocated based on relative net assets of Class R5 and Class R6. Sub-accounting fees attributable to Class R5 are charged to the operations of the class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on the relative value of settled shares.

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

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

**I.** **Segment Reporting** — The Fund represents a single operating segment, in accordance with ASC 280, Segment Reporting. Subject to the oversight and, when applicable, approval of the Board of Trustees, portfolio managers and senior executives at the Adviser act as the Fund's chief operating decision maker ("CODM"), assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's

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long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements.

**J.** **Securities Lending** – The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily by the securities lending provider. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its sponsored agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated, unregistered investment companies that comply with Rule 2a-7 under the 1940 Act and money market funds (collectively, "affiliated money market funds") and is shown as such on the Schedule of Investments. The Fund bears the risk of loss with respect to the investment of collateral. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. When loaning securities, the Fund retains certain benefits of owning the securities, including the economic equivalent of dividends or interest generated by the security. Lending securities entails a risk of loss to the Fund if, and to the extent that, the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower failed to return the securities. The securities loaned are subject to termination at the option of the borrower or the Fund. Upon termination, the borrower will return to the Fund the securities loaned and the Fund will return the collateral. Upon the failure of the borrower to return the securities, collateral may be liquidated and the securities may be purchased on the open market to replace the loaned securities. The Fund could experience delays and costs in gaining access to the collateral and the securities may lose value during the delay which could result in potential losses to the Fund. Some of these losses may be indemnified by the lending agent. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. Dividends received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, are included in *Dividends from affiliated money market funds* on the Statement of Operations. The aggregate value of securities out on loan, if any, is shown as a footnote on the Statement of Assets and Liabilities.

The Adviser serves as an affiliated securities lending agent for the Fund. The Bank of New York Mellon also serves as a securities lending agent. To the extent the Fund utilizes the Adviser as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services in a manner consistent with the federal securities laws. For the year ended February 28, 2026, the Fund paid the Adviser $2,952 in fees for securities lending agent services. Fees paid to the Adviser for securities lending agent services, if any, are included in *Dividends from affiliated money market funds* on the Statement of Operations.

**K.** **Foreign Currency Translations** — Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates.

The Fund may invest in foreign securities, which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Foreign taxes, if any, are recorded based on the tax regulations and rates that exist in the foreign markets in which the Fund invests and are shown in the Statement of Operations.

The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar. Currency rates in foreign countries may fluctuate for a number of reasons, including changes in interest rates, political, economic, or social instability and development, and imposition of currency controls. Currency controls in certain foreign jurisdictions may cause the Fund to experience significant delays in its ability to repatriate its assets in U.S. dollars at quoted spot rates, and it is possible that the Fund's ability to convert certain foreign currencies into U.S. dollars may be limited and may occur at discounts to quoted rates. As a result, the value of the Fund's assets and liabilities denominated in such currencies that would ultimately be realized could differ from those reported on the Statement of Assets and Liabilities. Certain foreign companies may be subject to sanctions, embargoes, or other governmental actions that may limit the ability to invest in, receive, hold, or sell the securities of such companies, all of which affect the market and/or credit risk of the investments. 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.

**L.** **Forward Foreign Currency Contracts** — The Fund may engage in foreign currency transactions either on a spot (i.e. for prompt delivery and settlement) basis, or through forward foreign currency contracts, to manage or minimize currency or exchange rate risk.

The Fund may also enter into forward foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security, or the Fund may also enter into forward foreign currency contracts that do not provide for physical exchange of the two currencies on the settlement date, but instead are settled by a single cash payment calculated as the difference between the agreed upon exchange rate and the spot rate at settlement based upon an agreed upon notional amount (non-deliverable forwards).

A forward foreign currency contract is an obligation between two parties ("Counterparties") to purchase or sell a specific currency for an agreed-upon price at a future date. The use of forward foreign currency contracts for hedging does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with forward foreign currency contracts include failure of the Counterparty to meet the terms of the contract and the value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities.

**M.** **Futures Contracts** — The Fund may enter into futures contracts to manage exposure to interest rate, equity and market price movements and/or currency risks. A futures contract is an agreement between Counterparties to purchase or sell a specified underlying security, currency or commodity (or delivery of a cash settlement price, in the case of an index future) for a fixed price at a future date. The Fund currently invests only in exchange-traded futures and they are standardized as to maturity date and underlying instrument or asset. Initial margin deposits required upon entering into futures contracts are satisfied by the segregation of specific securities or cash as collateral at the futures commission merchant (broker). During the period the futures contracts are open, changes in the value of the contracts are recognized as unrealized gains or losses by recalculating the value of the contracts on a daily basis. Subsequent or variation margin payments are received or made depending upon whether unrealized gains or losses are incurred. These amounts are reflected as receivables or payables on the Statement of Assets and Liabilities. When the contracts are closed or expire, the Fund recognizes a realized gain or loss equal to the difference between the proceeds from, or cost of, the closing transaction and the Fund's basis in the contract. The net realized gain (loss) and the change in unrealized gain (loss) on futures contracts held during the period is included on the Statement of Operations. The primary risks associated with futures contracts are market risk and the absence of a liquid secondary market. If the Fund were unable to liquidate a futures contract and/or enter into an offsetting closing transaction, the Fund would continue to be subject to market risk with respect to the value of the contracts and continue to be required to maintain the margin deposits on the futures

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contracts. Futures contracts have minimal Counterparty risk since the exchange's clearinghouse, as Counterparty to all exchange-traded futures, guarantees the futures against default. Risks may exceed amounts recognized in the Statement of Assets and Liabilities.

**N.** **Call Options Purchased and Written** – The Fund may write call options to seek to manage risk exposures in the Fund's investment portfolio or to earn premiums and/or buy call options for the purpose of acquiring the underlying reference asset for its portfolio, or on underlying reference assets against which it has written other call options. A covered call option gives the purchaser of such option the right to buy, and the writer the obligation to sell, the underlying security or foreign currency at the stated exercise price during the option period. An uncovered call option exists without the ownership of the underlying security. Options written by the Fund normally will have expiration dates between three and nine months from the date written. The exercise price of a call option may be below, equal to, or above the current market value of the underlying security at the time the option is written.

Additionally, the Fund may enter into an option on a swap agreement, also called a "swaption". A swaption is an option that gives the buyer the right, but not the obligation, to enter into a swap on a future date in exchange for paying a market-based premium. A receiver swaption gives the owner the right to receive the total return of a specified asset, reference rate or index. Swaptions also include options that allow an existing swap to be terminated or extended by one of the Counterparties.

When the Fund writes a covered call option, an amount equal to the premium received by the Fund is recorded as an asset and an equivalent liability in the Statement of Assets and Liabilities. The amount of the liability is subsequently "marked-to-market" to reflect the current market value of the option written. If a written covered call option expires on the stipulated expiration date, or if the Fund enters into a closing purchase transaction, the Fund realizes a gain (or a loss if the closing purchase transaction exceeds the premium received when the option was written) without regard to any unrealized gain or loss on the underlying security, and the liability related to such option is extinguished. If a written covered call option is exercised, the Fund realizes a gain or a loss from the sale of the underlying security and the proceeds of the sale are increased by the premium originally received. Realized and unrealized gains and losses on call options written are included in the Statement of Operations as Net realized gain (loss) from and Change in net unrealized appreciation (depreciation) of Option contracts written. A risk in writing a covered call option is that the Fund gives up the opportunity for profit if the market price of the security increases and the option is exercised. The risk in writing an uncovered call option is that the Fund may incur significant losses if the value of the written security exceeds the exercise price of the option.

When the Fund buys a call option, an amount equal to the premium paid by the Fund is recorded as an investment on the Statement of Assets and Liabilities. The amount of the investment is subsequently "marked-to-market" to reflect the current value of the option purchased. Realized and unrealized gains and losses on call options purchased are included in the Statement of Operations as Net realized gain (loss) from and Change in net unrealized appreciation (depreciation) of Investment securities. A risk in buying an option is that the Fund pays a premium whether or not the option is exercised. In addition, there can be no assurance that a liquid secondary market will exist for any option purchased.

**O.** **Put Options Purchased and Written** – The Fund may purchase and write put options including options on securities indexes, or foreign currency and/or futures contracts. By purchasing a put option, the Fund obtains the right (but not the obligation) to sell the option's underlying instrument at a fixed strike price. In return for this right, the Fund pays an option premium. The option's underlying instrument may be a security, securities index, or a futures contract.

Additionally, the Fund may enter into an option on a swap agreement, also called a "swaption". A swaption is an option that gives the buyer the right, but not the obligation, to enter into a swap on a future date in exchange for paying a market-based premium. A receiver swaption gives the owner the right to receive the total return of a specified asset, reference rate or index. Swaptions also include options that allow an existing swap to be terminated or extended by one of the Counterparties.

Put options may be used by the Fund to hedge securities it owns by locking in a minimum price at which the Fund can sell. If security prices fall, the put option could be exercised to offset all or a portion of the Fund's resulting losses. At the same time, because the maximum the Fund has at risk is the cost of the option, purchasing put options does not eliminate the potential for the Fund to profit from an increase in the value of the underlying portfolio securities. The Fund may write put options to earn additional income in the form of option premiums if it expects the price of the underlying instrument to remain stable or rise during the option period so that the option will not be exercised. The risk in this strategy is that the price of the underlying securities may decline by an amount greater than the premium received. Put options written are reported as a liability in the Statement of Assets and Liabilities. Realized and unrealized gains and losses on put options purchased and put options written are included in the Statement of Operations as Net realized gain (loss) from and Change in net unrealized appreciation (depreciation) of Investment securities and Option contracts written, respectively. A risk in buying an option is that the Fund pays a premium whether or not the option is exercised. In addition, there can be no assurance that a liquid secondary market will exist for any option purchased.

**P.** **Swap Agreements** — The Fund may enter into various swap transactions, including interest rate, total return, index, currency and credit default swap contracts ("CDS") for investment purposes or to manage interest rate, currency or credit risk. Such transactions are agreements between Counterparties. A swap agreement may be negotiated bilaterally and traded over-the-counter ("OTC") between two parties ("uncleared/ OTC") or, in some instances, must be transacted through a future commission merchant ("FCM") and cleared through a clearinghouse that serves as a central Counterparty ("centrally cleared swap"). These agreements may contain among other conditions, events of default and termination events, and various covenants and representations such as provisions that require the Fund to maintain a pre-determined level of net assets, and/ or provide limits regarding the decline of the Fund's net asset value ("NAV") per share over specific periods of time. If the Fund were to trigger such provisions and have open derivative positions at that time, the Counterparty may be able to terminate such agreement and request immediate payment in an amount equal to the net liability positions, if any.

Interest rate, total return, index, and currency swap agreements are two-party contracts entered into primarily to exchange the returns (or differentials in rates of returns) earned or realized on particular predetermined investments or instruments. The gross returns to be exchanged or "swapped" between the parties are calculated with respect to a notional amount, i.e., the return on or increase in value of a particular dollar amount invested at a particular interest rate or return of an underlying asset, in a particular foreign currency, or in a "basket" of securities representing a particular index.

In a centrally cleared swap, the Fund's ultimate Counterparty is a central clearinghouse. The Fund initially will enter into centrally cleared swaps through an executing broker. When a fund enters into a centrally cleared swap, it must deliver to the central Counterparty (via the FCM) an amount referred to as "initial margin." Initial margin requirements are determined by the central Counterparty, but an FCM may require additional initial margin above the amount required by the central Counterparty. Initial margin deposits required upon entering into centrally cleared swaps are satisfied by cash or securities as collateral at the FCM. Securities deposited as initial margin are designated on the Schedule of Investments and cash deposited is recorded on the Statement of Assets and Liabilities. During the term of a cleared swap agreement, a "variation margin" amount may be required to be paid by the Fund or may be received by the Fund, based on the daily change in price of the underlying reference instrument subject to the swap agreement and is recorded as a receivable or payable for variation margin in the Statement of Assets and Liabilities until the centrally cleared swap is terminated at which time a realized gain or loss is recorded.

A CDS is an agreement between Counterparties to exchange the credit risk of an issuer. A buyer of a CDS is said to buy protection by paying a fixed payment over the life of the agreement and in some situations an upfront payment to the seller of the CDS. If a defined credit event occurs (such as payment default or bankruptcy), the Fund as a protection buyer would cease paying its fixed payment, the Fund would deliver eligible bonds issued by the reference entity to the seller, and the seller would pay the full notional value, or the "par value", of the referenced obligation to the Fund. A seller of a CDS is said to sell protection and thus would receive a fixed payment over the life of the agreement and an upfront payment, if applicable. If a credit event occurs, the Fund as a protection seller would cease to receive the fixed payment stream, the Fund would pay the buyer "par value" or the full notional value of the referenced obligation, and the Fund would receive the eligible bonds issued by the reference entity. In turn, these bonds may be sold in order to realize a recovery value. Alternatively, the seller of the CDS and its Counterparty may agree to net the notional amount and the market value of the bonds and make a cash payment equal to the difference to the buyer of protection. If no credit event occurs, the Fund receives the fixed payment over the life of the agreement. As the seller, the Fund would effectively add leverage to its portfolio because, in addition to its total net assets, the Fund would be subject to investment exposure on the notional amount of the CDS. In

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**Invesco High Yield Fund**

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connection with these agreements, cash and securities may be identified as collateral in accordance with the terms of the respective swap agreements to provide assets of value and recourse in the event of default under the swap agreement or bankruptcy/insolvency of a party to the swap agreement. If a Counterparty becomes bankrupt or otherwise fails to perform its obligations due to financial difficulties, the Fund may experience significant delays in obtaining any recovery in a bankruptcy or other reorganization proceeding. The Fund may obtain only limited recovery or may obtain no recovery in such circumstances. The Fund's maximum risk of loss from Counterparty risk, either as the protection seller or as the protection buyer, is the value of the contract. The risk may be mitigated by having a master netting arrangement between the Fund and the Counterparty and by the designation of collateral by the Counterparty to cover the Fund's exposure to the Counterparty.

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

An interest rate swap is an agreement between Counterparties pursuant to which the parties exchange a floating rate payment for a fixed rate payment based on a specified notional amount.

Changes in the value of centrally cleared and OTC swap agreements are recognized as unrealized gains (losses) in the Statement of Operations by "marking to market" on a daily basis to reflect the value of the swap agreement at the end of each trading day. Payments received or paid at the beginning of the agreement are reflected as such on the Statement of Assets and Liabilities and may be referred to as upfront payments. The Fund accrues for the fixed payment stream and amortizes upfront payments, if any, on swap agreements on a daily basis with the net amount, recorded as a component of realized gain (loss) on the Statement of Operations. A liquidation payment received or made at the termination of a swap agreement is recorded as realized gain (loss) on the Statement of Operations. Cash held as collateral is recorded as deposits with brokers on the Statement of Assets and Liabilities. Entering into these agreements involves, to varying degrees, lack of liquidity and elements of credit, market, and Counterparty risk in excess of amounts recognized on the Statement of Assets and Liabilities. Such risks involve the possibility that a swap is difficult to sell or liquidate; the Counterparty does not honor its obligations under the agreement and unfavorable interest rates and market fluctuations, which could result in the Fund accruing additional expenses. It is possible that developments in the swaps market, including potential government regulation, could adversely affect the Fund's ability to terminate existing swap agreements or to realize amounts to be received under such agreements. Additionally, an International Swaps and Derivatives Association Master Agreement ("ISDA Master Agreement") includes credit related contingent features which allow Counterparties to OTC derivatives to terminate derivative contracts prior to maturity in the event that, for example, the Fund's net assets decline by a stated percentage or the Fund fails to meet the terms of its ISDA Master Agreements, which would cause the Fund to accelerate payment of any net liability owed to the Counterparty. A short position in a security poses more risk than holding the same security long. As there is no limit on how much the price of the security can increase, the Fund's exposure is unlimited.

Notional amounts of each individual credit default swap agreement outstanding as of February 28, 2026, if any, for which the Fund is the seller of protection are disclosed in the open swap agreements table. These potential amounts would be partially offset by any recovery values of the respective referenced obligations, upfront payments received upon entering into the agreement, or net amounts received from the settlement of buy protection credit default swap agreements entered into by the Fund for the same referenced entity or entities.

**Q.** **Bank Loan Risk** — Although the resale, or secondary market for floating rate loans has grown substantially over the past decade, both in overall size and number of market participants, there is no organized exchange or board of trade on which floating rate loans are traded. Instead, the secondary market for floating rate loans is a private, unregulated interdealer or interbank resale market. Such a market may therefore be subject to irregular trading activity, wide bid/ask spreads, and extended trade settlement periods, which may impair the Fund's ability to sell bank loans within its desired time frame or at an acceptable price and its ability to accurately value existing and prospective investments. Extended trade settlement periods may result in cash not being immediately available to the Fund. As a result, the Fund may have to sell other investments or engage in borrowing transactions to raise cash to meet its obligations. Similar to other asset classes, bank loan funds may be exposed to counterparty credit risk, or the risk than an entity with which the Fund has unsettled or open transactions may fail to or be unable to perform on its commitments. The Fund seeks to manage counterparty credit risk by entering into transactions only with counterparties that it believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties.

**R.** **Leverage Risk** — Leverage exists when the Fund can lose more than it originally invests because it purchases or sells an instrument or enters into a transaction without investing an amount equal to the full economic exposure of the instrument or transaction.

**S.** **Other Risks** - Fluctuations in the federal funds and equivalent foreign rates or other changes to monetary policy or regulatory actions may expose fixed income markets to heightened volatility, perhaps suddenly and to a significant degree, and to reduced liquidity for certain fixed income investments, particularly those with longer maturities. Such changes and resulting increased volatility may adversely impact the Fund, including its operations, universe of potential investment options, and return potential. It is difficult to predict the impact of interest rate changes on various markets. In addition, decreases in fixed income dealer market-making capacity may also potentially lead to heightened volatility and reduced liquidity in the fixed income markets. As a result, the value of the Fund's investments and share price may decline. Changes in central bank policies and other governmental actions and political events within the U.S. and abroad may also, among other things, affect investor and consumer expectations and confidence in the financial markets. This could result in higher than normal redemptions by shareholders, which could potentially increase the Fund's portfolio turnover rate and transaction costs.

Investments in high yield debt securities ("junk bonds") and other lower-rated securities will subject the Fund to substantial risk of loss. These securities are considered to be speculative with respect to the issuer's ability to pay interest and principal when due, are more susceptible to default or decline in market value and are less liquid than investment grade debt securities. Prices of high yield debt securities tend to be very volatile. The values of high yield debt securities often fluctuate more in response to company, political, regulatory or economic developments than higher quality bonds, and their values can decline significantly over short periods of time or during periods of economic difficulty when the bonds could be difficult to value or sell at a fair price, thus subjecting the Fund to a substantial risk of loss.

The Fund invests in corporate loans from U.S. or non-U.S. companies (the "Borrowers"). The investment of the Fund in a corporate loan may take the form of participation interests or assignments. If the Fund purchases a participation interest from a syndicate of lenders ("Lenders") or one of the participants in the syndicate ("Participant"), one or more of which administers the loan on behalf of all the Lenders (the "Agent Bank"), the Fund would be required to rely on the Lender that sold the participation interest not only for the enforcement of the Fund's rights against the Borrower but also for the receipt and processing of payments due to the Fund under the corporate loans. As such, the Fund is subject to the credit risk of the Borrower and the Participant. Lenders and Participants interposed between the Fund and a Borrower, together with Agent Banks, are referred to as "Intermediate Participants".

Active trading of portfolio securities may result in added expenses, a lower return and increased tax liability.

**20**

**Invesco High Yield Fund**

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

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

---

| | |
|:---|:---|
| **Average Daily Net Assets** | **Rate** |
| First $200 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.625% |
| Next $300 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.550% |
| Next $500 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.500% |
| Next $4 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.450% |
| Over $5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.430% |

---

For the year ended February 28, 2026, the effective advisory fee rate incurred by the Fund was 0.53%.

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

The Adviser has agreed, for an indefinite period, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Class A, Class C, Class Y, Investor Class, Class R5 and Class R6 shares to 1.50%, 2.25%, 1.25%, 1.50%, 1.25% and 1.25%, respectively, of the Fund's average daily net assets (the "boundary limits"). In determining the Adviser's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the total annual fund operating expenses after fee waiver and/or expense reimbursement to exceed the numbers reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses; and (5) expenses that the Fund has incurred but did not actually pay because of an expense offset arrangement. Invesco may amend and/or terminate these boundary limits at any time in its sole discretion and will inform the Board of Trustees of any such changes. The Adviser did not waive fees and/or reimburse expenses during the period under these boundary limits.

Further, the Adviser has contractually agreed, through at least August 31, 2027, to waive the advisory fee payable by the Fund in an amount equal to the advisory fees earned by the Adviser and/or its affiliates on underlying affiliated investments, including 100% of the net advisory fees the Adviser receives from any affiliated money market funds on investments by the Fund of uninvested cash (excluding investments of cash collateral from securities lending) in such affiliated money market funds.

For the year ended February 28, 2026, the Adviser waived advisory fees of $28,536.

The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the year ended February 28, 2026, expenses incurred under the agreement are shown in the Statement of Operations as *Administrative services fees*. Invesco has entered into a sub-administration agreement whereby State Street Bank and Trust Company ("SSB") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, SSB also serves as the Fund's custodian.

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") pursuant to which the Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to the Fund and reimburse IIS for certain expenses incurred by IIS in the course of providing such services. IIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. All fees payable by IIS to intermediaries that provide omnibus account services or sub-accounting services are charged back to the Fund, subject to certain limitations approved by the Trust's Board of Trustees. For the year ended February 28, 2026, expenses incurred under the agreement are shown in the Statement of Operations as *Transfer agent fees*.

The Trust has entered into master distribution agreements with Invesco Distributors, Inc. ("IDI") to serve as the distributor for the Class A, Class C, Class Y, Investor Class, Class R5 and Class R6 shares of the Fund. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Class A, Class C and Investor Class shares (collectively, the "Plans"). The Fund, pursuant to the Plans, pays IDI compensation at the annual rate of 0.25% of the Fund's average daily net assets of Class A shares and 1.00% of the average daily net assets of Class C shares. The Fund, pursuant to the Investor Class Plan, reimburses IDI for its allocated share of expenses incurred pursuant to the Investor Class Plan for the period, up to a maximum annual rate of 0.25% of the average daily net assets of Investor Class shares. The fees are accrued daily and paid monthly. Of the Plans payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such classes. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended February 28, 2026, expenses incurred under the Plans are shown in the Statement of Operations as *Distribution fees*.

Front-end sales commissions and CDSC (collectively, the "sales charges") are not recorded as expenses of the Fund. Front-end sales commissions are deducted from proceeds from the sales of Fund shares prior to investment in Class A shares of the Fund. CDSC are deducted from redemption proceeds prior to remittance to the shareholder. During the year ended February 28, 2026, IDI advised the Fund that IDI retained $53,704 in front-end sales commissions from the sale of Class A shares and $10,442 and $3,584 from Class A and Class C shares, respectively, for CDSC imposed upon redemptions by shareholders.

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

**NOTE 3—Additional Valuation Information**

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

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

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

**21**

**Invesco High Yield Fund**

------

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 February 28, 2026. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| <br>**Investments in Securities** |  |  |  |  |
| U.S. Dollar Denominated Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $940782283 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $940782283 |
| Variable Rate Senior Loan Interests | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 56582395 | &nbsp;&nbsp;&nbsp;&nbsp; 15837844 | &nbsp;&nbsp;&nbsp;&nbsp; 72420239 |
| Exchange-Traded Funds | &nbsp;&nbsp;&nbsp;&nbsp; 29941260 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 29941260 |
| Non-U.S. Dollar Denominated Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 19521121 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 19521121 |
| Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;&nbsp; 9479611 | &nbsp;&nbsp;&nbsp;&nbsp; 3703245 | &nbsp;&nbsp;&nbsp;&nbsp; 137 | &nbsp;&nbsp;&nbsp;&nbsp; 13182993 |
| Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 2853043 | &nbsp;&nbsp;&nbsp;&nbsp; 2870350 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5723393 |
| Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp; 15719480 | &nbsp;&nbsp;&nbsp;&nbsp; 79893283 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 95612763 |
| Options Purchased | &nbsp;&nbsp;&nbsp;&nbsp; 252750 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 252750 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp;&nbsp; 58246144 | &nbsp;&nbsp;&nbsp;&nbsp; 1103352677 | &nbsp;&nbsp;&nbsp;&nbsp; 15837981 | &nbsp;&nbsp;&nbsp;&nbsp; 1177436802 |
| **Other Investments - Assets\*** |  |  |  |  |
| Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 166319 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 166319 |
| **Other Investments - Liabilities\*** |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; (241268)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (241268)<br>|
| Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (211465)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (211465)<br>|
| Swap Agreements | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (128442)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (128442)<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; (241268)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (339907)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (581175)<br>|
| **Total Other Investments** | &nbsp;&nbsp;&nbsp;&nbsp; (241268)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (173588)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (414856)<br>|
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $58004876 | &nbsp;&nbsp;&nbsp;&nbsp; $1103179089 | &nbsp;&nbsp;&nbsp;&nbsp; $15837981 | &nbsp;&nbsp;&nbsp;&nbsp; $1177021946 |

---

\* Unrealized appreciation (depreciation).

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**02/28/25**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Accrued** <br>**Discounts/** <br>**Premiums**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>| **Transfers** <br>**into** <br>**Level 3**<br>| **Transfers** <br>**out of** <br>**Level 3**<br>| **Value** <br>**02/28/26**<br>|
| Variable Rate Senior Loan Interests | $500000 | $17418607 | $(2057976)<br>| $— | $(7379)<br>| $(15408)<br>| $— | $— | $15837844 |
| Common Stocks & Other Equity Interests | 456543 |  | (406696)<br>|  | (7422556)<br>| 7372846 |  |  | 137 |
| U.S. Dollar Denominated Bonds & Notes |  |  | (7076)<br>|  | 7076 |  |  |  |  |
| Total | $956543 | $17418607 | $(2471748)<br>| $— | $(7422859)<br>| $7357438 | $— | $— | $15837981 |

---

The following table summarizes the valuation techniques and significant unobservable inputs used in determining fair value measurements for those investments classified as Level 3 at period end:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Fair Value <br>at 02/28/26<br>| Valuation <br>Technique<br>| Unobservable <br>Inputs<br>| Range of <br>Unobservable <br>Inputs<br>| Weighted Average of <br>Unobservable Inputs <br>Based on Fair Value<br>|
| Variable Rate Senior Loan Interests | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15837844 | Third-Party Pricing | Broker Quote | 99.00% - 100.25% of Par | 99.54% of Par |
| Common Stocks & Other Equity Interests | 137 | Third-Party Pricing | Broker Quote | 4.73% of Par | - |
| Total | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15837981 |  |  |  |  |

---

**NOTE 4—Derivative Investments**

The Fund may enter into an International Swaps and Derivatives Association Master Agreement ("ISDA Master Agreement") under which a fund may trade OTC derivatives. An OTC transaction entered into under an ISDA Master Agreement typically involves a collateral posting arrangement, payment netting provisions and close-out netting provisions. These netting provisions allow for reduction of credit risk through netting of contractual obligations. The enforceability of the netting provisions of the ISDA Master Agreement depends on the governing law of the ISDA Master Agreement, among other factors.

For financial reporting purposes, the Fund does not offset OTC derivative assets or liabilities that are subject to ISDA Master Agreements in the Statement of Assets and Liabilities.

**22**

**Invesco High Yield Fund**

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**Value of Derivative Investments at Period-End**

The table below summarizes the value of the Fund's derivative investments, detailed by primary risk exposure, held as of February 28, 2026:

---

| | | | |
|:---|:---|:---|:---|
|  | **Value** | **Value** | **Value** |
| **Derivative Assets** | &nbsp;&nbsp;&nbsp;&nbsp; **Currency** <br>**Risk**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Equity** <br>**Risk**<br>| **Total** |
| Unrealized appreciation on forward foreign currency contracts outstanding | &nbsp;&nbsp;&nbsp;&nbsp; $166319 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $166319 |
| Options purchased, at value — Exchange-Traded<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 252750 | &nbsp;&nbsp;&nbsp;&nbsp; 252750 |
| Total Derivative Assets | &nbsp;&nbsp;&nbsp;&nbsp; 166319 | &nbsp;&nbsp;&nbsp;&nbsp; 252750 | &nbsp;&nbsp;&nbsp;&nbsp; 419069 |
| Derivatives not subject to master netting agreements | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (252750)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (252750)<br>|
| Total Derivative Assets subject to master netting agreements | &nbsp;&nbsp;&nbsp;&nbsp; $166319 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $166319 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Value** | **Value** | **Value** | **Value** |
| **Derivative Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp; **Credit** <br>**Risk**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Currency** <br>**Risk**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Interest** <br>**Rate Risk**<br>| **Total** |
| Unrealized depreciation on futures contracts —Exchange-Traded<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(241268)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(241268)<br>|
| Unrealized depreciation on swap agreements — Centrally Cleared<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; (128442)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (128442)<br>|
| Unrealized depreciation on forward foreign currency contracts outstanding | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (211465)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (211465)<br>|
| Total Derivative Liabilities | &nbsp;&nbsp;&nbsp;&nbsp; (128442)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (211465)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (241268)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (581175)<br>|
| Derivatives not subject to master netting agreements | &nbsp;&nbsp;&nbsp;&nbsp; 128442 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 241268 | &nbsp;&nbsp;&nbsp;&nbsp; 369710 |
| Total Derivative Liabilities subject to master netting agreements | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(211465)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(211465)<br>|

---

<sup>(a)</sup> Options purchased, at value as reported in the Schedule of Investments. <br> <sup>(b)</sup> The daily variation margin receivable (payable) at period-end is recorded in the Statement of Assets and Liabilities.

**Offsetting Assets and Liabilities**

The table below reflects the Fund's exposure to Counterparties subject to either an ISDA Master Agreement or other agreement for OTC derivative transactions as of February 28, 2026.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Financial** <br>**Derivative** <br>**Assets**<br>| **Financial** <br>**Derivative** <br>**Liabilities**<br>|  | **Collateral** <br>**(Received)/Pledged** | **Collateral** <br>**(Received)/Pledged** |  |
| **Counterparty** | &nbsp;&nbsp; **Forward Foreign** <br>**Currency Contracts**<br>| &nbsp;&nbsp; **Forward Foreign** <br>**Currency Contracts**<br>| &nbsp;&nbsp; **Net Value of** <br>**Derivatives**<br>| **Non-Cash** | **Cash** | &nbsp;&nbsp; **Net** <br>**Amount**<br>|
| Barclays Bank PLC | &nbsp;&nbsp;&nbsp; $166319 | &nbsp;&nbsp;&nbsp; $(7992)<br>| &nbsp;&nbsp;&nbsp; $158327 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $158327 |
| Canadian Imperial Bank of Commerce | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; (126058)<br>| &nbsp;&nbsp;&nbsp; (126058)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (126058)<br>|
| Goldman Sachs International | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; (497)<br>| &nbsp;&nbsp;&nbsp; (497)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (497)<br>|
| HSBC Bank USA | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; (18719)<br>| &nbsp;&nbsp;&nbsp; (18719)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (18719)<br>|
| State Street Bank & Trust Co. | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; (58199)<br>| &nbsp;&nbsp;&nbsp; (58199)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (58199)<br>|
| Total | &nbsp;&nbsp;&nbsp; $166319 | &nbsp;&nbsp;&nbsp; $(211465)<br>| &nbsp;&nbsp;&nbsp; $(45146)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(45146)<br>|

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**Effect of Derivative Investments for the year ended February 28, 2026**

The table below summarizes the gains (losses) on derivative investments, detailed by primary risk exposure, recognized in earnings during the period:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Location of Gain (Loss) on** <br>**Statement of Operations** | **Location of Gain (Loss) on** <br>**Statement of Operations** | **Location of Gain (Loss) on** <br>**Statement of Operations** | **Location of Gain (Loss) on** <br>**Statement of Operations** | **Location of Gain (Loss) on** <br>**Statement of Operations** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Credit** <br>**Risk**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Currency** <br>**Risk**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Equity** <br>**Risk**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Interest** <br>**Rate Risk**<br>| **Total** |
| Realized Gain (Loss): |  |  |  |  |  |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp;&nbsp; $(1833039)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp;&nbsp; $(1833039)<br>|
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (1073327)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1073327)<br>|
| Options purchased<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (872606)<br>| &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (872606)<br>|
| Swap agreements | &nbsp;&nbsp;&nbsp;&nbsp; (899011)<br>| &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (899011)<br>|
| Change in Net Unrealized Appreciation (Depreciation): |  |  |  |  |  |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (117038)<br>| &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (117038)<br>|
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (241268)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (241268)<br>|
| Options purchased<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; 519968 | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; 519968 |
| Swap agreements | &nbsp;&nbsp;&nbsp;&nbsp; (128442)<br>| &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (128442)<br>|
| Total | &nbsp;&nbsp;&nbsp;&nbsp; $(1027453)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(1950077)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(352638)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(1314595)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(4644763)<br>|

---

<sup>(a)</sup> Options purchased are included in the net realized gain (loss) from unaffiliated investment securities and the change in net unrealized appreciation (depreciation) on unaffiliated investment securities.

**23**

**Invesco High Yield Fund**

------

The table below summarizes the average notional value of derivatives held during the period.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Forward** <br>**Foreign Currency** <br>**Contracts**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Futures** <br>**Contracts**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Equity** <br>**Options** <br>**Purchased**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Index** <br>**Options** <br>**Purchased**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Swap** <br>**Agreements**<br>|
| Average notional value | &nbsp;&nbsp;&nbsp;&nbsp; $36945613 | &nbsp;&nbsp;&nbsp;&nbsp; $39452526 | &nbsp;&nbsp;&nbsp;&nbsp; $24110050 | &nbsp;&nbsp;&nbsp;&nbsp; $19140000 | &nbsp;&nbsp;&nbsp;&nbsp; $37687500 |
| Average contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3168 | &nbsp;&nbsp;&nbsp;&nbsp; 33 | &nbsp;&nbsp;&nbsp;&nbsp; — |

---

**NOTE 5—Expense Offset Arrangement(s)**

The expense offset arrangement is comprised of transfer agency credits which result from balances in demand deposit accounts used by the transfer agent for clearing shareholder transactions. For the year ended February 28, 2026, the Fund received credits from this arrangement, which resulted in the reduction of the Fund's total expenses of $23,167.

**NOTE 6—Trustees' and Officers' Fees and Benefits**

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

**NOTE 7—Cash Balances**

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

**NOTE 8—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** |
|  | **2026** | **2025** |
| Ordinary income\* | &nbsp;&nbsp; $74860854 | &nbsp;&nbsp;&nbsp;&nbsp; $69643406 |

---

\* Includes short-term capital gain distributions, if any.

---

| | |
|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | **2026** |
| Undistributed ordinary income | &nbsp;&nbsp;&nbsp;&nbsp; $3536596 |
| Net unrealized appreciation — investments | &nbsp;&nbsp;&nbsp;&nbsp; 8761336 |
| Net unrealized appreciation — foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp; 27615 |
| Temporary book/tax differences | &nbsp;&nbsp;&nbsp;&nbsp; (191082)<br>|
| Capital loss carryforward | &nbsp;&nbsp;&nbsp;&nbsp; (321963127)<br>|
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp;&nbsp; 1417173496 |
| Total net assets | &nbsp;&nbsp;&nbsp;&nbsp; $1107344834 |

---

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is due to differences in the timing of recognition of gains and losses on investments for tax and book purposes. The Fund's net unrealized appreciation (depreciation) difference is attributable primarily to wash sales, amortization and accretion on debt securities and derivative instruments.

The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Fund's temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits.

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

The Fund has a capital loss carryforward as of February 28, 2026, as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** |
| **Expiration** | **Short-Term** | **Long-Term** | **Total** |
| Not subject to expiration | &nbsp;&nbsp;&nbsp;&nbsp; $61059254 | &nbsp;&nbsp;&nbsp;&nbsp; $260903873 | &nbsp;&nbsp;&nbsp;&nbsp; $321963127 |

---

\*

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

**NOTE 9—Investment Transactions**

The aggregate amount of investment securities (other than short-term securities, U.S. Government obligations and money market funds, if any) purchased and sold by the Fund during the year ended February 28, 2026 was $1,631,711,731 and $1,726,707,238, respectively. As of February 28, 2026, the aggregate cost of

**24**

**Invesco High Yield Fund**

------

investments, including any derivatives, on a tax basis listed below includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:

---

| | |
|:---|:---|
| **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** | **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** |
| Aggregate unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $20801643 |
| Aggregate unrealized (depreciation) of investments | &nbsp;&nbsp;&nbsp;&nbsp; (12040307)<br>|
| Net unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $8761336 |

---

Cost of investments for tax purposes is $1,168,260,610.

**NOTE 10—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of passive foreign investment companies, foreign currency transactions, amortization and accretion on debt securities and derivative instruments, on February 28, 2026, undistributed net investment income was increased by $2,756,200, undistributed net realized gain (loss) was decreased by $2,756,108 and shares of beneficial interest was decreased by $92. This reclassification had no effect on the net assets of the Fund.

**NOTE 11—Share Information** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended** <br>**February 28, 2026**<sup>(a)</sup>  | **Year ended** <br>**February 28, 2026**<sup>(a)</sup>  | **Year ended** <br>**February 28, 2025** | **Year ended** <br>**February 28, 2025** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 41222966 | &nbsp;&nbsp;&nbsp; $145811142 | &nbsp;&nbsp;&nbsp; 52136619 | &nbsp;&nbsp;&nbsp; $184663183 |
| Class C | &nbsp;&nbsp;&nbsp; 1098138 | &nbsp;&nbsp;&nbsp; 3885048 | &nbsp;&nbsp;&nbsp; 1275294 | &nbsp;&nbsp;&nbsp; 4513963 |
| Class Y | &nbsp;&nbsp;&nbsp; 4206588 | &nbsp;&nbsp;&nbsp; 14943662 | &nbsp;&nbsp;&nbsp; 17186036 | &nbsp;&nbsp;&nbsp; 60878582 |
| Investor Class | &nbsp;&nbsp;&nbsp; 3236503 | &nbsp;&nbsp;&nbsp; 11482127 | &nbsp;&nbsp;&nbsp; 21193520 | &nbsp;&nbsp;&nbsp; 74888763 |
| Class R5 | &nbsp;&nbsp;&nbsp; 1304319 | &nbsp;&nbsp;&nbsp; 4621310 | &nbsp;&nbsp;&nbsp; 1045906 | &nbsp;&nbsp;&nbsp; 3689234 |
| Class R6 | &nbsp;&nbsp;&nbsp; 18880694 | &nbsp;&nbsp;&nbsp; 66327745 | &nbsp;&nbsp;&nbsp; 72416008 | &nbsp;&nbsp;&nbsp; 259183002 |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 8401657 | &nbsp;&nbsp;&nbsp; 29792485 | &nbsp;&nbsp;&nbsp; 8192015 | &nbsp;&nbsp;&nbsp; 29027555 |
| Class C | &nbsp;&nbsp;&nbsp; 206322 | &nbsp;&nbsp;&nbsp; 730431 | &nbsp;&nbsp;&nbsp; 203368 | &nbsp;&nbsp;&nbsp; 719098 |
| Class Y | &nbsp;&nbsp;&nbsp; 589481 | &nbsp;&nbsp;&nbsp; 2091670 | &nbsp;&nbsp;&nbsp; 1221683 | &nbsp;&nbsp;&nbsp; 4338311 |
| Investor Class | &nbsp;&nbsp;&nbsp; 876791 | &nbsp;&nbsp;&nbsp; 3104904 | &nbsp;&nbsp;&nbsp; 915796 | &nbsp;&nbsp;&nbsp; 3240161 |
| Class R5 | &nbsp;&nbsp;&nbsp; 316333 | &nbsp;&nbsp;&nbsp; 1118340 | &nbsp;&nbsp;&nbsp; 327843 | &nbsp;&nbsp;&nbsp; 1157911 |
| Class R6 | &nbsp;&nbsp;&nbsp; 7643917 | &nbsp;&nbsp;&nbsp; 27077984 | &nbsp;&nbsp;&nbsp; 5541532 | &nbsp;&nbsp;&nbsp; 19651596 |
| **Automatic conversion of Class C shares to Class A shares:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 617980 | &nbsp;&nbsp;&nbsp; 2192686 | &nbsp;&nbsp;&nbsp; 702126 | &nbsp;&nbsp;&nbsp; 2495352 |
| Class C | &nbsp;&nbsp;&nbsp; (619176)<br>| &nbsp;&nbsp;&nbsp; (2192686)<br>| &nbsp;&nbsp;&nbsp; (703223)<br>| &nbsp;&nbsp;&nbsp; (2495352)<br>|
| **Reacquired:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; (48648784)<br>| &nbsp;&nbsp;&nbsp; (172109252)<br>| &nbsp;&nbsp;&nbsp; (56500450)<br>| &nbsp;&nbsp;&nbsp; (200063623)<br>|
| Class C | &nbsp;&nbsp;&nbsp; (1120995)<br>| &nbsp;&nbsp;&nbsp; (3960318)<br>| &nbsp;&nbsp;&nbsp; (948395)<br>| &nbsp;&nbsp;&nbsp; (3346978)<br>|
| Class Y | &nbsp;&nbsp;&nbsp; (16063768)<br>| &nbsp;&nbsp;&nbsp; (55862156)<br>| &nbsp;&nbsp;&nbsp; (14579950)<br>| &nbsp;&nbsp;&nbsp; (51643036)<br>|
| Investor Class | &nbsp;&nbsp;&nbsp; (4392862)<br>| &nbsp;&nbsp;&nbsp; (15577128)<br>| &nbsp;&nbsp;&nbsp; (22284051)<br>| &nbsp;&nbsp;&nbsp; (78808319)<br>|
| Class R5 | &nbsp;&nbsp;&nbsp; (1200653)<br>| &nbsp;&nbsp;&nbsp; (4233336)<br>| &nbsp;&nbsp;&nbsp; (1397653)<br>| &nbsp;&nbsp;&nbsp; (4930883)<br>|
| Class R6 | &nbsp;&nbsp;&nbsp; (38016296)<br>| &nbsp;&nbsp;&nbsp; (135583451)<br>| &nbsp;&nbsp;&nbsp; (63104945)<br>| &nbsp;&nbsp;&nbsp; (221043762)<br>|
| Net increase (decrease) in share activity | &nbsp;&nbsp;&nbsp; (21460845)<br>| &nbsp;&nbsp;&nbsp; $(76338793)<br>| &nbsp;&nbsp;&nbsp; 22839079 | &nbsp;&nbsp;&nbsp; $86114758 |

---

---

| | |
|:---|:---|
| <sup>(a)</sup> | There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 47% of the outstanding shares of the <br> Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are <br> considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities <br> brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of <br> record by these entities are also owned beneficially.<br>|
|  | In addition, 8% of the outstanding shares of the Fund are owned by the Adviser or an affiliate of the Adviser. |

---

**25**

**Invesco High Yield Fund**

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Investment Securities Funds (Invesco Investment Securities Funds) and Shareholders of Invesco High Yield Fund

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco High Yield Fund (one of the funds constituting AIM Investment Securities Funds (Invesco Investment Securities Funds), referred to hereafter as the "Fund") as of February 28, 2026, the related statement of operations for the year ended February 28, 2026, the statement of changes in net assets for each of the two years in the period ended February 28, 2026, including the related notes, and the financial highlights for each of the five years in the period ended February 28, 2026 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 28, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended February 28, 2026 and the financial highlights for each of the five years in the period ended February 28, 2026 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026 by correspondence with the custodian, transfer agents, agent banks, portfolio company investee, and brokers; when replies were not received from agent banks, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

Houston, Texas

April 28, 2026

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**26**

**Invesco High Yield Fund**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year–end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended February 28, 2026:

---

| | |
|:---|:---|
| **Federal and State Income Tax** |  |
| Qualified Dividend Income\* | &nbsp;&nbsp; 1.11% |
| Corporate Dividends Received Deduction\* | &nbsp;&nbsp; 1.08% |
| U.S. Treasury Obligations\* | &nbsp;&nbsp; 0.00% |
| Qualified Business Income\* | &nbsp;&nbsp; 0.00% |
| Business Interest Income\* | &nbsp;&nbsp; 87.08% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

**27**

**Invesco High Yield Fund**

------

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

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

Not applicable.

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

Not applicable.

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

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

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

Not applicable.

**28**

**Invesco High Yield Fund**

------

![](img7dea61292.jpg)

SEC file number(s): 811-05686 and 033-39519

Invesco Distributors, Inc.

HYI-NCSR

------

![](img77cb585d1.jpg)

------

**Annual Financial Statements and Other Information**

**February 28, 2026**

**Invesco Income Fund**

Nasdaq:

A: AGOVX ■ C: AGVCX ■ R: AGVRX ■ Y: AGVYX ■ Investor: AGIVX ■ R5: AGOIX ■ R6: AGVSX

------

---

| | |
|:---|:---|
| [2](#xx_d32f6e6d-3872-4088-8e59-419637bfb82c_SOI-Continued-123_1) | Schedule of Investments |
| [7](#xx_d32f6e6d-3872-4088-8e59-419637bfb82c_FS-Continued-123_1) | Financial Statements |
| [10](#xx_d32f6e6d-3872-4088-8e59-419637bfb82c_FS-Continued-123_4) | Financial Highlights |
| [11](#xx_d32f6e6d-3872-4088-8e59-419637bfb82c_NTF-Continued-123_1) | Notes to Financial Statements |
| [19](#xx_d32f6e6d-3872-4088-8e59-419637bfb82c_ARS-Continued-123_1) | Report of Independent Registered Public Accounting Firm |
| [20](#xx_d32f6e6d-3872-4088-8e59-419637bfb82c_TI-Continued-123_1) | Tax Information |
| [21](#xx_d32f6e6d-3872-4088-8e59-419637bfb82c_OIRSR-Continued-123_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments** 

*February 28, 2026*

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Asset-Backed Securities–72.85%** | **Asset-Backed Securities–72.85%** | **Asset-Backed Securities–72.85%** | **Asset-Backed Securities–72.85%** |
| Affirm Asset Securitization Trust, | Affirm Asset Securitization Trust, |  |  |
| Series 2025-X1, Class A, 5.08%, <br> 04/15/2030<sup>(a)</sup> <br>|  | $377219 | &nbsp;&nbsp; $377719 |
| Series 2025-X2, Class C, 4.93%, <br> 10/15/2030<sup>(a)</sup> <br>|  | 1000000 | &nbsp;&nbsp; 1004592 |
| Affirm Master Trust, Series 2025-2A, <br> Class C, 5.26%, 07/15/2033<sup>(a)</sup> <br>|  | 1500000 | &nbsp;&nbsp; 1512954 |
| AMSR Trust, | AMSR Trust, |  |  |
| Series 2021-SFR4, Class D, 2.77%, <br> 12/17/2038<sup>(a)</sup> <br>|  | 1500000 | &nbsp;&nbsp; 1474999 |
| Series 2023-SFR2, Class C, 3.95%, <br> 06/17/2040<sup>(a)</sup> <br>|  | 4000000 | &nbsp;&nbsp; 3934019 |
| Angel Oak Mortgage Trust, | Angel Oak Mortgage Trust, |  |  |
| Series 2024-2, Class A1, 5.99%, <br> 01/25/2069<sup>(a)</sup> <br>|  | 1368343 | &nbsp;&nbsp; 1381126 |
| Series 2025-HB1, Class A1, 5.47% <br> (30 Day Average SOFR + 1.80%), <br> 02/25/2055<sup>(a)(b)</sup> <br>|  | 384415 | &nbsp;&nbsp; 387323 |
| AutoNation Finance Trust, | AutoNation Finance Trust, |  |  |
| Series 2025-1A, Class D, 5.63%, <br> 09/10/2032<sup>(a)</sup> <br>|  | 2000000 | &nbsp;&nbsp; 2056998 |
| Series 2026-1A, Class D, 5.07%, <br> 01/11/2034<sup>(a)</sup> <br>|  | 2000000 | &nbsp;&nbsp; 2026202 |
| Avis Budget Rental Car Funding <br> (AESOP) LLC, | Avis Budget Rental Car Funding <br> (AESOP) LLC, |  |  |
| Series 2023-1A, Class B, 6.08%, <br> 04/20/2029<sup>(a)</sup> <br>|  | 2000000 | &nbsp;&nbsp; 2068052 |
| Series 2023-4A, Class C, 7.24%, <br> 06/20/2029<sup>(a)</sup> <br>|  | 3000000 | &nbsp;&nbsp; 3150418 |
| Bank, | Bank, |  |  |
| Series 2017-BNK5, Class AS, <br> 3.62%, 06/15/2060<br>|  | 4302000 | &nbsp;&nbsp; 4226564 |
| Series 2018-BNK14, Class E, <br> 3.00%, 09/15/2060<sup>(a)</sup> <br>|  | 5750000 | &nbsp;&nbsp; 3933634 |
| BBCMS Mortgage Trust, | BBCMS Mortgage Trust, |  |  |
| Series 2018-C2, Class C, 4.96%, <br> 12/15/2051<sup>(c)</sup> <br>|  | 2500000 | &nbsp;&nbsp; 2290856 |
| Series 2022-C15, Class AS, <br> 3.75%, 04/15/2055<sup>(c)</sup> <br>|  | 800000 | &nbsp;&nbsp; 737637 |
| Series 2023-C22, Class AS, <br> 7.13%, 11/15/2056<sup>(c)</sup> <br>|  | 3000000 | &nbsp;&nbsp; 3409352 |
| Series 2024-C24, Class AS, <br> 5.87%, 02/15/2057<br>|  | 2000000 | &nbsp;&nbsp; 2140834 |
| Bear Stearns Adjustable Rate Mortgage <br> Trust, Series 2004-10, Class 12A1, <br> 0.00%, 01/25/2035<sup>(c)(d)</sup> <br>|  | 187683 | &nbsp;&nbsp; 182886 |
| Benchmark Mortgage Trust, | Benchmark Mortgage Trust, |  |  |
| Series 2021-B28, Class AS, <br> 2.43%, 08/15/2054<br>|  | 3200000 | &nbsp;&nbsp; 2829553 |
| Series 2022-B37, Class AS, <br> 5.75%, 11/15/2055<sup>(c)</sup> <br>|  | 4000000 | &nbsp;&nbsp; 4168958 |
| Series 2023-B40, Class AS, <br> 6.59%, 12/15/2056<br>|  | 2000000 | &nbsp;&nbsp; 2218368 |
| Series 2023-V3, Class AS, 7.10%, <br> 07/15/2056<sup>(c)</sup> <br>|  | 4000000 | &nbsp;&nbsp; 4232606 |
| Series 2024-V5, Class AM, 6.42%, <br> 01/10/2057<sup>(c)</sup> <br>|  | 1900000 | &nbsp;&nbsp; 1996556 |
| BMO Mortgage Trust, Series 2024-<br> 5C4, Class A3, 6.53%, <br> 05/15/2057<sup>(c)</sup> <br>|  | 1066000 | &nbsp;&nbsp; 1136622 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| BX Trust, Series 2025-VOLT, Class C, <br> 6.01% (1 mo. Term SOFR + <br> 2.35%), 12/15/2044<sup>(a)(b)</sup> <br>|  | $2610000 | &nbsp;&nbsp; $2621048 |
| Cantor Commercial Real Estate <br> Lending, Series 2019-CF1, <br> Class 65D, 4.66%, <br> 05/15/2052<sup>(a)(c)</sup> <br>|  | 4517000 | &nbsp;&nbsp; 118571 |
| CarMax Auto Owner Trust, <br> Series 2025-4, Class D, 5.11%, <br> 05/17/2032<br>|  | 1000000 | &nbsp;&nbsp; 1021771 |
| CarMax Select Receivables Trust, | CarMax Select Receivables Trust, |  |  |
| Series 2025-B, Class D, 5.33%, <br> 07/15/2031<br>|  | 2000000 | &nbsp;&nbsp; 2039327 |
| Series 2026-A, Class E, 6.56%, <br> 02/15/2033<sup>(a)</sup> <br>|  | 1500000 | &nbsp;&nbsp; 1510647 |
| Centersquare Issuer LLC, | Centersquare Issuer LLC, |  |  |
| Series 2024-1A, Class A2, 5.20%, <br> 10/26/2054<sup>(a)</sup> <br>|  | 2000000 | &nbsp;&nbsp; 1979348 |
| Series 2025-4A, Class A2, 5.20%, <br> 08/25/2055<sup>(e)</sup> <br>|  | 750000 | &nbsp;&nbsp; 720283 |
| Chase Mortgage Finance Corp., | Chase Mortgage Finance Corp., |  |  |
| Series 2016-SH1, Class M3, <br> 3.75%, 04/25/2045<sup>(a)(c)</sup> <br>|  | 675825 | &nbsp;&nbsp; 641598 |
| Series 2016-SH2, Class M3, <br> 3.75%, 12/25/2045<sup>(a)(c)</sup> <br>|  | 1013274 | &nbsp;&nbsp; 963216 |
| CHNGE Mortgage Trust, <br> Series 2023-3, Class A1, 7.10%, <br> 07/25/2058<sup>(a)</sup> <br>|  | 1462267 | &nbsp;&nbsp; 1466615 |
| Citigroup Commercial Mortgage Trust, <br> Series 2018-C5, Class AS, 4.41%, <br> 06/10/2051<sup>(c)</sup> <br>|  | 3000000 | &nbsp;&nbsp; 2992397 |
| Citigroup Mortgage Loan Trust, <br> Series 2024-1, Class A4A, 6.00%, <br> 07/25/2054<sup>(a)(c)</sup> <br>|  | 635125 | &nbsp;&nbsp; 643428 |
| Commonbond Student Loan Trust, <br> Series 2020-1, Class A, 1.69%, <br> 10/25/2051<sup>(a)</sup> <br>|  | 1339220 | &nbsp;&nbsp; 1242462 |
| Corporate One Auto Receivables Trust, <br> Series 2026-1A, Class C, 4.84%, <br> 04/15/2031<sup>(a)</sup> <br>|  | 1000000 | &nbsp;&nbsp; 1008627 |
| Credit Suisse Mortgage Capital Trust, <br> Series 2022-ATH2, Class M1, <br> 4.98%, 05/25/2067<sup>(a)(c)</sup> <br>|  | 4000000 | &nbsp;&nbsp; 3855103 |
| CSAIL Commercial Mortgage Trust, | CSAIL Commercial Mortgage Trust, |  |  |
| Series 2016-C6, Class E, 3.89%, <br> 01/15/2049<sup>(a)(c)</sup> <br>|  | 3000000 | &nbsp;&nbsp; 2158886 |
| Series 2018-CX11, Class A4, <br> 3.77%, 04/15/2051<br>|  | 343857 | &nbsp;&nbsp; 342001 |
| Series 2018-CX11, Class A5, <br> 4.03%, 04/15/2051<sup>(c)</sup> <br>|  | 550000 | &nbsp;&nbsp; 548955 |
| DB Master Finance LLC, <br> Series 2021-1A, Class A23, <br> 2.79%, 11/20/2051<sup>(a)</sup> <br>|  | 1091550 | &nbsp;&nbsp; 994823 |
| Deephaven Residential Mortgage Trust, | Deephaven Residential Mortgage Trust, |  |  |
| Series 2021-3, Class A1, 1.19%, <br> 08/25/2066<sup>(a)(c)</sup> <br>|  | 1691354 | &nbsp;&nbsp; 1522538 |
| Series 2024-1, Class A1, 5.74%, <br> 07/25/2069<sup>(a)</sup> <br>|  | 1369126 | &nbsp;&nbsp; 1385740 |
| Dell Equipment Finance Trust, <br> Series 2025-2, Class D, 4.83%, <br> 03/22/2032<sup>(a)</sup> <br>|  | 1500000 | &nbsp;&nbsp; 1509992 |

---

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

**2**

**Invesco Income Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| Ellington Financial Mortgage Trust, <br> Series 2022-3, Class A1, 5.00%, <br> 08/25/2067<sup>(a)</sup> <br>|  | $2782965 | &nbsp;&nbsp; $2776574 |
| ELM Trust, Series 2024-ELM, <br> Class A10, 5.99%, <br> 06/10/2039<sup>(a)(c)</sup> <br>|  | 1200000 | &nbsp;&nbsp; 1206126 |
| FIVE Mortgage Trust, Series 2023-V1, <br> Class XA, IO, 0.65%, <br> 02/10/2056<sup>(f)</sup> <br>|  | 48221408 | &nbsp;&nbsp; 505124 |
| Flagstar Mortgage Trust, | Flagstar Mortgage Trust, |  |  |
| Series 2018-5, Class B1, 4.37%, <br> 09/25/2048<sup>(a)(c)</sup> <br>|  | 1287747 | &nbsp;&nbsp; 1248226 |
| Series 2018-5, Class B2, 4.37%, <br> 09/25/2048<sup>(a)(c)</sup> <br>|  | 1543024 | &nbsp;&nbsp; 1491919 |
| Series 2018-6RR, Class B2, <br> 4.90%, 10/25/2048<sup>(a)(c)</sup> <br>|  | 2316558 | &nbsp;&nbsp; 2323030 |
| Series 2018-6RR, Class B3, <br> 4.90%, 10/25/2048<sup>(a)(c)</sup> <br>|  | 2316558 | &nbsp;&nbsp; 2317809 |
| GCAT Trust, Series 2023-NQM2, <br> Class M1, 6.99%, 11/25/2067<sup>(a)(c)</sup> <br>|  | 2781000 | &nbsp;&nbsp; 2774442 |
| GS Mortgage-Backed Securities Trust, | GS Mortgage-Backed Securities Trust, |  |  |
| Series 2025-HE1, Class A1, 5.22% <br> (30 Day Average SOFR + 1.55%), <br> 10/25/2055<sup>(a)(b)</sup> <br>|  | 663142 | &nbsp;&nbsp; 666694 |
| Series 2025-HE2, Class M1, 5.57% <br> (30 Day Average SOFR + 1.90%), <br> 12/25/2065<sup>(a)(b)</sup> <br>|  | 540000 | &nbsp;&nbsp; 547405 |
| Series 2026-CES1 Class A3, <br> 5.42%, 05/25/2056<sup>(a)</sup> <br>|  | 2000000 | &nbsp;&nbsp; 2028137 |
| Hertz Vehicle Financing III L.P., <br> Series 2021-2A, Class B, 2.12%, <br> 12/27/2027<sup>(a)</sup> <br>|  | 1765000 | &nbsp;&nbsp; 1739791 |
| Hertz Vehicle Financing III LLC, <br> Series 2023-1A, Class C, 6.91%, <br> 06/25/2027<sup>(a)</sup> <br>|  | 1666667 | &nbsp;&nbsp; 1669039 |
| Hertz Vehicle Financing LLC, | Hertz Vehicle Financing LLC, |  |  |
| Series 2022-2A, Class B, 2.65%, <br> 06/26/2028<sup>(a)</sup> <br>|  | 1000000 | &nbsp;&nbsp; 979314 |
| Series 2022-2A, Class C, 2.95%, <br> 06/26/2028<sup>(a)</sup> <br>|  | 1500000 | &nbsp;&nbsp; 1468789 |
| HPEFS Equipment Trust, | HPEFS Equipment Trust, |  |  |
| Series 2023-2A, Class D, 6.97%, <br> 07/21/2031<sup>(a)</sup> <br>|  | 1500000 | &nbsp;&nbsp; 1512213 |
| Series 2024-1A, Class D, 5.82%, <br> 11/20/2031<sup>(a)</sup> <br>|  | 2500000 | &nbsp;&nbsp; 2528663 |
| Kinetic ABS Issuer LLC, Series 2026-<br> 1A, Class A2, 5.22%, <br> 02/25/2056<sup>(a)</sup> <br>|  | 2000000 | &nbsp;&nbsp; 2037283 |
| Lightpath Fiber Issuer LLC, <br> Series 2026-1A, Class B, 5.89%, <br> 03/25/2056<sup>(a)</sup> <br>|  | 1600000 | &nbsp;&nbsp; 1621000 |
| MACH 1 Cayman Ltd., Series 2019-1, <br> Class B, 4.34%, 10/15/2039<sup>(a)</sup> <br>|  | 201667 | &nbsp;&nbsp; 200166 |
| Merchants Fleet Funding LLC, <br> Series 2025-1A, Class C, 5.21%, <br> 01/20/2039<sup>(a)</sup> <br>|  | 2000000 | &nbsp;&nbsp; 2026314 |
| Metronet Infrastructure Issuer LLC, <br> Series 2025-1A, Class A2, 6.01%, <br> 07/20/2055<sup>(e)</sup> <br>|  | 750000 | &nbsp;&nbsp; 774506 |
| MILE Trust, Series 2025-STNE, Class A, <br> 5.16% (1 mo. Term SOFR + <br> 1.50%), 07/15/2042<sup>(a)(b)</sup> <br>|  | 1630000 | &nbsp;&nbsp; 1634392 |
| Mission Lane Credit Card Master Trust, <br> Series 2024-B, Class A, 5.88%, <br> 01/15/2030<sup>(a)</sup> <br>|  | 2500000 | &nbsp;&nbsp; 2512493 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| Morgan Stanley Capital I Trust, <br> Series 2017-H1, Class A5, 3.53%, <br> 06/15/2050<br>|  | $100000 | &nbsp;&nbsp; $99108 |
| Morgan Stanley Residential Mortgage <br> Loan Trust, Series 2023-NQM1, <br> Class A3, 7.53%, 09/25/2068<sup>(a)</sup> <br>|  | 1400474 | &nbsp;&nbsp; 1414314 |
| MP 2023 LLC, Series 2025-1A, <br> Class A, 5.55%, 11/15/2065<sup>(a)</sup> <br>|  | 1984244 | &nbsp;&nbsp; 2011527 |
| MSWF Commercial Mortgage Trust, <br> Series 2023-1, Class A2, 6.45%, <br> 05/15/2056<br>|  | 2000000 | &nbsp;&nbsp; 2085400 |
| Navistar Financial Dealer Note Master <br> Owner Trust, Series 2024-1, <br> Class C, 6.13%, 04/25/2029<sup>(a)</sup> <br>|  | 2000000 | &nbsp;&nbsp; 2004748 |
| OBX Trust, | OBX Trust, |  |  |
| Series 2022-NQM7, Class A1, <br> 5.11%, 08/25/2062<sup>(a)</sup> <br>|  | 4233771 | &nbsp;&nbsp; 4233334 |
| Series 2022-NQM7, Class A3, <br> 5.70%, 08/25/2062<sup>(a)</sup> <br>|  | 873749 | &nbsp;&nbsp; 874163 |
| Series 2023-NQM1, Class A3, <br> 6.50%, 11/25/2062<sup>(a)(c)</sup> <br>|  | 2115317 | &nbsp;&nbsp; 2120416 |
| Series 2024-NQM5, Class A1, <br> 5.99%, 01/25/2064<sup>(a)</sup> <br>|  | 781308 | &nbsp;&nbsp; 789169 |
| Series 2025-HE1, Class A1, 5.27% <br> (30 Day Average SOFR + 1.60%), <br> 02/25/2055<sup>(a)(b)</sup> <br>|  | 487199 | &nbsp;&nbsp; 489931 |
| Planet Fitness Master Issuer LLC, <br> Series 2025-1A, Class A2I, 5.27%, <br> 12/06/2055<sup>(a)</sup> <br>|  | 1000000 | &nbsp;&nbsp; 1017316 |
| PRPM Trust, Series 2023-NQM3, <br> Class A3, 6.98%, 11/25/2068<sup>(a)</sup> <br>|  | 1825668 | &nbsp;&nbsp; 1850530 |
| Qdoba Funding LLC, Series 2023-1A, <br> Class A2, 8.50%, 09/14/2053<sup>(a)</sup> <br>|  | 2992500 | &nbsp;&nbsp; 3134799 |
| Rad CLO 18 Ltd., Series 2023-18A, <br> Class BR, 5.57% (3 mo. Term SOFR <br> + 1.90%), 07/15/2037<sup>(a)(b)</sup> <br>|  | 2500000 | &nbsp;&nbsp; 2507588 |
| Residential Mortgage Loan Trust, <br> Series 2019-3, Class B1, 3.81%, <br> 09/25/2059<sup>(a)(c)</sup> <br>|  | 3276000 | &nbsp;&nbsp; 3256127 |
| Seasoned Credit Risk Transfer Trust, <br> Series 2017-4, Class M, 4.75%, <br> 06/25/2057<sup>(a)(c)</sup> <br>|  | 1458204 | &nbsp;&nbsp; 1452416 |
| SG Residential Mortgage Trust, <br> Series 2022-1, Class M1, 3.96%, <br> 03/27/2062<sup>(a)(c)</sup> <br>|  | 4000000 | &nbsp;&nbsp; 3366006 |
| Sonic Capital LLC, Series 2020-1A, <br> Class A2I, 3.85%, 01/20/2050<sup>(a)</sup> <br>|  | 1984500 | &nbsp;&nbsp; 1968609 |
| Stack Infrastructure Issuer LLC, <br> Series 2023-3A, Class A2, 5.90%, <br> 10/25/2048<sup>(a)</sup> <br>|  | 2500000 | &nbsp;&nbsp; 2517251 |
| Subway Funding LLC, | Subway Funding LLC, |  |  |
| Series 2024-1A, Class A2I, 6.27%, <br> 07/30/2054<sup>(a)</sup> <br>|  | 2530962 | &nbsp;&nbsp; 2595622 |
| Series 2024-3A, Class A2I, 5.57%, <br> 07/30/2054<sup>(a)</sup> <br>|  | 2246562 | &nbsp;&nbsp; 2249163 |
| Taco Bell Funding LLC, Series 2021-<br> 1A, Class A23, 2.54%, <br> 08/25/2051<sup>(a)</sup> <br>|  | 982500 | &nbsp;&nbsp; 881136 |
| Textainer Marine Containers VII Ltd. <br> (China), | Textainer Marine Containers VII Ltd. <br> (China), |  |  |
| Series 2020-1A, Class B, 4.94%, <br> 08/21/2045<sup>(a)</sup> <br>|  | 1417738 | &nbsp;&nbsp; 1408330 |
| Series 2021-1A, Class B, 2.52%, <br> 02/20/2046<sup>(a)</sup> <br>|  | 1552403 | &nbsp;&nbsp; 1464765 |
| Series 2021-2A, Class B, 2.82%, <br> 04/20/2046<sup>(a)</sup> <br>|  | 2760000 | &nbsp;&nbsp; 2602936 |

---

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

**3**

**Invesco Income Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| TierPoint Issuer LLC, Series 2025-1A, <br> Class A2, 6.15%, 04/26/2055<sup>(a)</sup> <br>|  | $4000000 | &nbsp;&nbsp; $4086522 |
| Triton Container Finance IX LLC, <br> Series 2025-1A, Class C, 6.21%, <br> 06/20/2050<sup>(a)</sup> <br>|  | 1410000 | &nbsp;&nbsp; 1434971 |
| USB Auto Owner Trust, Series 2025-<br> 1A, Class D, 5.40%, <br> 12/15/2032<sup>(a)</sup> <br>|  | 1250000 | &nbsp;&nbsp; 1277135 |
| VB-S1 Issuer LLC, Series 2026-1A, <br> Class D, 5.19%, 03/15/2056<sup>(a)</sup> <br>|  | 370000 | &nbsp;&nbsp; 373107 |
| Verus Securitization Trust, <br> Series 2023-INV2, Class A3, <br> 7.08%, 08/25/2068<sup>(a)</sup> <br>|  | 1366294 | &nbsp;&nbsp; 1373065 |
| Vista Point Securitization Trust, <br> Series 2020-1, Class M1, 4.15%, <br> 03/25/2065<sup>(a)(c)</sup> <br>|  | 1810368 | &nbsp;&nbsp; 1802231 |
| WBHT Commercial Mortgage Trust, <br> Series 2025-WBM, Class B, 5.85% <br> (1 mo. Term SOFR + 2.19%), <br> 06/15/2042<sup>(a)(b)</sup> <br>|  | 1500000 | &nbsp;&nbsp; 1504330 |
| Wells Fargo Commercial Mortgage Trust, | Wells Fargo Commercial Mortgage Trust, |  |  |
| Series 2017-C38, Class AS, <br> 3.67%, 07/15/2050<sup>(c)</sup> <br>|  | 2647358 | &nbsp;&nbsp; 2595651 |
| Series 2017-RC1, Class D, 3.25%, <br> 01/15/2060<sup>(a)</sup> <br>|  | 4000000 | &nbsp;&nbsp; 3676526 |
| Wendy's Funding LLC, | Wendy's Funding LLC, |  |  |
| Series 2018-1A, Class A2II, <br> 3.88%, 03/15/2048<sup>(a)</sup> <br>|  | 1099072 | &nbsp;&nbsp; 1088756 |
| Series 2021-1A, Class A2II, <br> 2.78%, 06/15/2051<sup>(a)</sup> <br>|  | 1336989 | &nbsp;&nbsp; 1223177 |
| Westlake Automobile Receivables <br> Trust, Series 2026-1A, Class C, <br> 4.37%, 06/16/2031<sup>(a)</sup> <br>|  | 2500000 | &nbsp;&nbsp; 2517059 |
| Zaxby's Funding LLC, | Zaxby's Funding LLC, |  |  |
| Series 2021-1A, Class A2, 3.24%, <br> 07/30/2051<sup>(a)</sup> <br>|  | 3285199 | &nbsp;&nbsp; 3154533 |
| Series 2024-1A, Class A2I, 6.59%, <br> 04/30/2054<sup>(a)</sup> <br>|  | 556525 | &nbsp;&nbsp; 572027 |
| Zayo Issuer LLC, Series 2025-2A, <br> Class A2, 5.95%, 06/20/2055<sup>(a)</sup> <br>|  | 2000000 | &nbsp;&nbsp; 2066486 |
| Total Asset-Backed Securities (Cost $205,333,747) | Total Asset-Backed Securities (Cost $205,333,747) | Total Asset-Backed Securities (Cost $205,333,747) | &nbsp;&nbsp; 199895933 |
| **U.S. Government Sponsored Agency Mortgage-Backed** <br> **Securities–28.41%** | **U.S. Government Sponsored Agency Mortgage-Backed** <br> **Securities–28.41%** | **U.S. Government Sponsored Agency Mortgage-Backed** <br> **Securities–28.41%** | **U.S. Government Sponsored Agency Mortgage-Backed** <br> **Securities–28.41%** |
| **Collateralized Mortgage Obligations–1.15%** | **Collateralized Mortgage Obligations–1.15%** | **Collateralized Mortgage Obligations–1.15%** | **Collateralized Mortgage Obligations–1.15%** |
| Fannie Mae REMICs, IO, <br>2.50%, 08/25/2049<sup>(g)</sup> <br>|  | 11230588 | &nbsp;&nbsp; 1500396 |
| Freddie Mac REMICs, IO, <br>2.50%, 09/25/2048<sup>(g)</sup> <br>|  | 12424577 | &nbsp;&nbsp; 1661207 |
|  |  |  | &nbsp;&nbsp; 3161603 |
| **Federal Home Loan Mortgage Corp. (FHLMC)–3.39%** | **Federal Home Loan Mortgage Corp. (FHLMC)–3.39%** | **Federal Home Loan Mortgage Corp. (FHLMC)–3.39%** | **Federal Home Loan Mortgage Corp. (FHLMC)–3.39%** |
| 6.50%, 06/01/2029 to <br> 08/01/2032<br>|  | 1163 | &nbsp;&nbsp; 1216 |
| 7.00%, 03/01/2032 to <br> 05/01/2032<br>|  | 167 | &nbsp;&nbsp; 175 |
| 5.50%, 05/01/2053 |  | 5450102 | &nbsp;&nbsp; 5610025 |
| 6.00%, 06/01/2053 |  | 3568958 | &nbsp;&nbsp; 3685719 |
|  |  |  | &nbsp;&nbsp; 9297135 |

---

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Federal National Mortgage Association (FNMA)–2.57%** | **Federal National Mortgage Association (FNMA)–2.57%** | **Federal National Mortgage Association (FNMA)–2.57%** |
| 6.50%, 02/01/2028 to <br> 10/01/2036<br>| $1257 | &nbsp;&nbsp; $1308 |
| 7.00%, 06/01/2029 | 53 | &nbsp;&nbsp; 55 |
| 8.00%, 10/01/2029 | 6 | &nbsp;&nbsp; 6 |
| 6.00%, 06/01/2053 | 6770691 | &nbsp;&nbsp; 7036914 |
|  |  | &nbsp;&nbsp; 7038283 |
| **Government National Mortgage Association (GNMA)–15.60%** | **Government National Mortgage Association (GNMA)–15.60%** | **Government National Mortgage Association (GNMA)–15.60%** |
| 6.95%, 11/20/2026 | 438 | &nbsp;&nbsp; 437 |
| 8.00%, 12/20/2026 to <br> 12/15/2030<br>| 74110 | &nbsp;&nbsp; 77405 |
| 6.50%, 10/15/2027 to <br> 09/15/2032<br>| 164 | &nbsp;&nbsp; 167 |
| 7.00%, 10/15/2027 to <br> 12/15/2036<br>| 133238 | &nbsp;&nbsp; 136504 |
| 8.50%, 01/15/2037 | 10236 | &nbsp;&nbsp; 10401 |
| TBA, <br>2.00%, 03/01/2056<sup>(h)</sup> <br>| 16500000 | &nbsp;&nbsp; 13983612 |
| 2.50%, 03/01/2056<sup>(h)</sup> <br>| 11995000 | &nbsp;&nbsp; 10587029 |
| 5.00%, 04/01/2056<sup>(h)</sup> <br>| 10810000 | &nbsp;&nbsp; 10833586 |
| 5.50%, 04/01/2056<sup>(h)</sup> <br>| 7080000 | &nbsp;&nbsp; 7164266 |
|  |  | &nbsp;&nbsp; 42793407 |
| **Uniform Mortgage-Backed Securities–5.70%** | **Uniform Mortgage-Backed Securities–5.70%** | **Uniform Mortgage-Backed Securities–5.70%** |
| TBA, <br>2.50%, 03/01/2056<sup>(h)</sup> <br>| 8000000 | &nbsp;&nbsp; 6932836 |
| 3.00%, 03/01/2056<sup>(h)</sup> <br>| 4944000 | &nbsp;&nbsp; 4471851 |
| 3.50%, 03/01/2056<sup>(h)</sup> <br>| 4500000 | &nbsp;&nbsp; 4241317 |
|  |  | &nbsp;&nbsp; 15646004 |
| Total U.S. Government Sponsored Agency <br> Mortgage-Backed Securities (Cost $76,230,458) | Total U.S. Government Sponsored Agency <br> Mortgage-Backed Securities (Cost $76,230,458) | &nbsp;&nbsp; 77936432 |
| **U.S. Treasury Securities–8.97%** | **U.S. Treasury Securities–8.97%** | **U.S. Treasury Securities–8.97%** |
| **U.S. Treasury Bills–1.36%** | **U.S. Treasury Bills–1.36%** | **U.S. Treasury Bills–1.36%** |
| 3.52% - 4.12%, 05/14/2026<sup>(i)(j)</sup> <br>| 3751000 | &nbsp;&nbsp; 3723732 |
| **U.S. Treasury Notes–7.61%** | **U.S. Treasury Notes–7.61%** | **U.S. Treasury Notes–7.61%** |
| 3.50%, 11/15/2028 | 3000000 | &nbsp;&nbsp; 3008789 |
| 3.50%, 02/15/2029 | 13500000 | &nbsp;&nbsp; 13542715 |
| 4.50%, 05/31/2029 | 1000000 | &nbsp;&nbsp; 1033300 |
| 4.13%, 10/31/2029 | 2000000 | &nbsp;&nbsp; 2046758 |
| 3.88%, 09/30/2032 | 1000000 | &nbsp;&nbsp; 1010801 |
| 4.25%, 08/15/2035 | 250000 | &nbsp;&nbsp; 256250 |
|  |  | &nbsp;&nbsp; 20898613 |
| Total U.S. Treasury Securities (Cost $24,496,436) | Total U.S. Treasury Securities (Cost $24,496,436) | &nbsp;&nbsp; 24622345 |

---

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

**4**

**Invesco Income Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Agency Credit Risk Transfer Notes–7.64%** | **Agency Credit Risk Transfer Notes–7.64%** | **Agency Credit Risk Transfer Notes–7.64%** | **Agency Credit Risk Transfer Notes–7.64%** |
| Fannie Mae Connecticut Avenue Securities, | Fannie Mae Connecticut Avenue Securities, |  |  |
| Series 2023-R03, Class 2M1, <br> STACR<sup>®</sup>, 6.17% (30 Day Average <br> SOFR + 2.50%), 04/25/2043<sup>(a)(b)</sup> <br>|  | $1566105 | &nbsp;&nbsp; $1582061 |
| Series 2023-R07, Class 2M2, <br> STACR<sup>®</sup>, 6.92% (30 Day Average <br> SOFR + 3.25%), 09/25/2043<sup>(a)(b)</sup> <br>|  | 2500000 | &nbsp;&nbsp; 2586101 |
| Series 2023-R08, Class 1M2, <br> STACR<sup>®</sup>, 6.17% (30 Day Average <br> SOFR + 2.50%), 10/25/2043<sup>(a)(b)</sup> <br>|  | 785000 | &nbsp;&nbsp; 800173 |
| Series 2024-R05, Class 2M2, <br> STACR<sup>®</sup>, 5.37% (30 Day Average <br> SOFR + 1.70%), 07/25/2044<sup>(a)(b)</sup> <br>|  | 2500000 | &nbsp;&nbsp; 2506729 |
| Series 2025-R02, Class 1M1, <br> STACR<sup>®</sup>, 4.82% (30 Day Average <br> SOFR + 1.15%), 02/25/2045<sup>(a)(b)</sup> <br>|  | 367638 | &nbsp;&nbsp; 367904 |
| Series 2026-R01, Class 2M2, <br> STACR<sup>®</sup>, 5.02% (30 Day Average <br> SOFR + 1.35%), 01/25/2046<sup>(a)(b)</sup> <br>|  | 1000000 | &nbsp;&nbsp; 1001652 |
| Freddie Mac, | Freddie Mac, |  |  |
| Series 2022-DNA3, Class M1B, <br> STACR<sup>®</sup>, 6.57% (30 Day Average <br> SOFR + 2.90%), 04/25/2042<sup>(a)(b)</sup> <br>|  | 3000000 | &nbsp;&nbsp; 3063322 |
| Series 2022-DNA4, Class M1, <br> STACR<sup>®</sup>, 7.02% (30 Day Average <br> SOFR + 3.35%), 05/25/2042<sup>(a)(b)</sup> <br>|  | 1000000 | &nbsp;&nbsp; 1028618 |
| Series 2022-DNA6, Class M1, <br> STACR<sup>®</sup>, 7.37% (30 Day Average <br> SOFR + 3.70%), 09/25/2042<sup>(a)(b)</sup> <br>|  | 2250000 | &nbsp;&nbsp; 2338823 |
| Series 2023-DNA1, Class M1, <br> STACR<sup>®</sup>, 6.77% (30 Day Average <br> SOFR + 3.10%), 03/25/2043<sup>(a)(b)</sup> <br>|  | 3000000 | &nbsp;&nbsp; 3109648 |
| Series 2023-HQA3, Class M2, <br> STACR<sup>®</sup>, 7.02% (30 Day Average <br> SOFR + 3.35%), 11/25/2043<sup>(a)(b)</sup> <br>|  | 1500000 | &nbsp;&nbsp; 1576161 |
| Series 2026-DNA1, Class M2, <br> STACR<sup>®</sup>, 4.96% (30 Day Average <br> SOFR + 1.30%), 02/25/2046<sup>(a)(b)</sup> <br>|  | 1000000 | &nbsp;&nbsp; 1005550 |
| Total Agency Credit Risk Transfer Notes <br> (Cost $20,789,199) | Total Agency Credit Risk Transfer Notes <br> (Cost $20,789,199) | Total Agency Credit Risk Transfer Notes <br> (Cost $20,789,199) | &nbsp;&nbsp; 20966742 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; <br>**Shares** | &nbsp;&nbsp; <br>**Shares** | **Value** |
| **Preferred Stocks–1.17%** | **Preferred Stocks–1.17%** | **Preferred Stocks–1.17%** |
| **Mortgage REITs–1.17%** | **Mortgage REITs–1.17%** | **Mortgage REITs–1.17%** |
| Chimera Investment Corp., 8.69% (3 mo. <br> Term SOFR + 5.00%), Series C, Pfd.<sup>(b)</sup>  | 26638 | &nbsp;&nbsp; $585770 |
| PennyMac Mortgage Investment Trust, <br> 8.00% (3 mo. USD LIBOR + 5.99%), <br> Series B, Pfd. | 68689 | &nbsp;&nbsp; 1616939 |
| Redwood Trust, Inc., 10.00%, Pfd.<sup>(k)</sup>  | 40000 | &nbsp;&nbsp; 1000520 |
| Total Preferred Stocks (Cost $3,288,651) | Total Preferred Stocks (Cost $3,288,651) | &nbsp;&nbsp; 3203229 |
| **Money Market Funds–2.45%** | **Money Market Funds–2.45%** | **Money Market Funds–2.45%** |
| Invesco Government & Agency Portfolio, <br> Institutional Class, 3.59%<sup>(l)(m)</sup>  | 4032050 | &nbsp;&nbsp; 4032050 |
| Invesco Treasury Portfolio, Institutional <br> Class, 3.56%<sup>(l)(m)</sup>  | 2688034 | &nbsp;&nbsp; 2688034 |
| Total Money Market Funds (Cost $6,720,084) | Total Money Market Funds (Cost $6,720,084) | &nbsp;&nbsp; 6720084 |
| TOTAL INVESTMENTS IN SECURITIES–121.49% <br> (Cost $336,858,575) | TOTAL INVESTMENTS IN SECURITIES–121.49% <br> (Cost $336,858,575) | &nbsp;&nbsp; 333344765 |
| OTHER ASSETS LESS LIABILITIES—(21.49)% | OTHER ASSETS LESS LIABILITIES—(21.49)% | &nbsp;&nbsp; (58959548)<br>|
| NET ASSETS–100.00% | NET ASSETS–100.00% | &nbsp;&nbsp; $274385217 |

---

Investment Abbreviations:

---

| | |
|:---|:---|
| IO | – Interest Only |
| LIBOR | – London Interbank Offered Rate |
| Pfd. | – Preferred |
| REMICs | – Real Estate Mortgage Investment Conduits |
| SOFR | – Secured Overnight Financing Rate |
| STACR<sup>®</sup> | – Structured Agency Credit Risk |
| TBA | – To Be Announced |
| USD | – U.S. Dollar |

---

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

**5**

**Invesco Income Fund**

------

Notes to Schedule of Investments:

<sup>(a)</sup> Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at February 28, 2026 was $177,567,360, which represented 64.71% of the Fund's Net Assets. 

<sup>(b)</sup> Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2026.

<sup>(c)</sup> Interest rate is redetermined periodically based on the cash flows generated by the pool of assets backing the security, less any applicable fees. The rate shown is the rate in effect on February 28, 2026. 

<sup>(d)</sup> Zero coupon bond issued at a discount.

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

<sup>(f)</sup> Interest only security. Principal amount shown is the notional principal and does not reflect the maturity value of the security. Interest rate is redetermined periodically based on the cash flows generated by the pool of assets backing the security, less any applicable fees. The rate shown is the rate in effect on February 28, 2026. 

<sup>(g)</sup> Interest only security. Principal amount shown is the notional principal and does not reflect the maturity value of the security.

<sup>(h)</sup> Security purchased on a forward commitment basis. This security is subject to dollar roll transactions. See Note 1M.

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

<sup>(j)</sup> All or a portion of the value was pledged as collateral to cover margin requirements for open futures contracts. See Note 1L.

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

<sup>(l)</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 fiscal year ended February 28, 2026. 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**February 28, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**February 28, 2026**<br>| **Dividend Income** |
| **Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| Invesco Government & Agency Portfolio, Institutional <br> Class<br>| $3003437 | &nbsp;&nbsp; $51443438 | &nbsp;&nbsp; $(50414825) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $4032050 | &nbsp;&nbsp; $129200 |
| Invesco Treasury Portfolio, Institutional Class | 2002292 | &nbsp;&nbsp; 34295625 | &nbsp;&nbsp; (33609883) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 2688034 | &nbsp;&nbsp; 85303 |
| Total | $5005729 | &nbsp;&nbsp; $85739063 | &nbsp;&nbsp; $(84024708) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $6720084 | &nbsp;&nbsp; $214503 |

---

<sup>(m)</sup> The rate shown is the 7-day SEC standardized yield as of February 28, 2026.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts** | **Open Futures Contracts** | **Open Futures Contracts** | **Open Futures Contracts** | **Open Futures Contracts** | **Open Futures Contracts** |
| **Long Futures Contracts** | &nbsp;&nbsp; **Number of**<br> **Contracts**<br>| &nbsp;&nbsp;&nbsp; **Expiration**<br> **Month**<br>| &nbsp;&nbsp; **Notional**<br> **Value**<br>| **Value** | &nbsp;&nbsp; **Unrealized**<br> **Appreciation**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)**<br>|
| **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** |
| U.S. Treasury 5 Year Notes | &nbsp;&nbsp;&nbsp; 135 | June-2026 | &nbsp;&nbsp;&nbsp; $14868984 | &nbsp;&nbsp;&nbsp; $76046 | &nbsp;&nbsp;&nbsp; $76046 |
| U.S. Treasury 10 Year Notes | &nbsp;&nbsp;&nbsp; 49 | June-2026 | &nbsp;&nbsp;&nbsp; 5576813 | &nbsp;&nbsp;&nbsp; 40638 | &nbsp;&nbsp;&nbsp; 40638 |
| U.S. Treasury 10 Year Ultra Notes | &nbsp;&nbsp;&nbsp; 117 | June-2026 | &nbsp;&nbsp;&nbsp; 13657922 | &nbsp;&nbsp;&nbsp; 136914 | &nbsp;&nbsp;&nbsp; 136914 |
| U.S. Treasury Long Bonds | &nbsp;&nbsp;&nbsp; 127 | June-2026 | &nbsp;&nbsp;&nbsp; 15045531 | &nbsp;&nbsp;&nbsp; 142929 | &nbsp;&nbsp;&nbsp; 142929 |
| U.S. Treasury Ultra Bonds | &nbsp;&nbsp;&nbsp; 12 | June-2026 | &nbsp;&nbsp;&nbsp; 1459125 | &nbsp;&nbsp;&nbsp; 21072 | &nbsp;&nbsp;&nbsp; 21072 |
| Subtotal—Long Futures Contracts | Subtotal—Long Futures Contracts | Subtotal—Long Futures Contracts | Subtotal—Long Futures Contracts | &nbsp;&nbsp;&nbsp; 417599 | &nbsp;&nbsp;&nbsp; 417599 |
| **Short Futures Contracts** |  |  |  |  |  |
| **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** |
| U.S. Treasury 2 Year Notes | &nbsp;&nbsp;&nbsp; 6 | June-2026 | &nbsp;&nbsp;&nbsp; (1255641)<br>| &nbsp;&nbsp;&nbsp; (1368)<br>| &nbsp;&nbsp;&nbsp; (1368)<br>|
| Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | &nbsp;&nbsp;&nbsp; $416231 | &nbsp;&nbsp;&nbsp; $416231 |

---

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

**6**

**Invesco Income Fund**

------

**Statement of Assets and Liabilities**

*February 28, 2026*

---

| | |
|:---|:---|
| **Assets:** |  |
| Investments in unaffiliated securities, at value <br>(Cost $330,138,491)<br>| &nbsp;&nbsp; $326624681 |
| Investments in affiliated money market funds, at value <br> (Cost $6,720,084)<br>| &nbsp;&nbsp; 6720084 |
| Other investments: |  |
| Variation margin receivable — futures contracts | &nbsp;&nbsp; 192142 |
| Cash | &nbsp;&nbsp; 35339 |
| Receivable for: |  |
| TBA sales commitment | &nbsp;&nbsp; 18061048 |
| Fund shares sold | &nbsp;&nbsp; 47256 |
| Dividends | &nbsp;&nbsp; 55634 |
| Interest | &nbsp;&nbsp; 944076 |
| Investment for trustee deferred compensation and <br> retirement plans<br>| &nbsp;&nbsp; 194975 |
| Other assets | &nbsp;&nbsp; 49431 |
| Total assets | &nbsp;&nbsp; 352924666 |
| **Liabilities:** |  |
| Payable for: |  |
| Investments purchased | &nbsp;&nbsp; 1608579 |
| TBA purchased commitment | &nbsp;&nbsp; 75650768 |
| Dividends | &nbsp;&nbsp; 142876 |
| Fund shares reacquired | &nbsp;&nbsp; 693421 |
| Accrued fees to affiliates | &nbsp;&nbsp; 138288 |
| Accrued trustees' and officers' fees and benefits | &nbsp;&nbsp; 2449 |
| Accrued other operating expenses | &nbsp;&nbsp; 103950 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 199118 |
| Total liabilities | &nbsp;&nbsp; 78539449 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $274385217 |
| **Net assets consist of:** |  |
| Shares of beneficial interest | &nbsp;&nbsp; $375721723 |
| Distributable earnings (loss) | &nbsp;&nbsp; (101336506)<br>|
|  | &nbsp;&nbsp; $274385217 |

---

---

| | |
|:---|:---|
| **Net Assets:** | **Net Assets:** |
| Class A | &nbsp;&nbsp; $241047974 |
| Class C | &nbsp;&nbsp; $7482304 |
| Class R | &nbsp;&nbsp; $7069128 |
| Class Y | &nbsp;&nbsp; $6380835 |
| Investor Class | &nbsp;&nbsp; $11662848 |
| Class R5 | &nbsp;&nbsp; $435985 |
| Class R6 | &nbsp;&nbsp; $306143 |
| **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** | **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** |
| Class A | &nbsp;&nbsp; 33861103 |
| Class C | &nbsp;&nbsp; 1050419 |
| Class R | &nbsp;&nbsp; 992414 |
| Class Y | &nbsp;&nbsp; 895472 |
| Investor Class | &nbsp;&nbsp; 1636391 |
| Class R5 | &nbsp;&nbsp; 61212 |
| Class R6 | &nbsp;&nbsp; 42965 |
| Class A: |  |
| Net asset value per share | &nbsp;&nbsp; $7.12 |
| Maximum offering price per share <br>(Net asset value of $7.12 ÷ 95.75%)<br>| &nbsp;&nbsp; $7.44 |
| Class C: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $7.12 |
| Class R: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $7.12 |
| Class Y: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $7.13 |
| Investor Class: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $7.13 |
| Class R5: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $7.12 |
| Class R6: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $7.13 |

---

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

**7**

**Invesco Income Fund**

------

**Statement of Operations**

*For the year ended February 28, 2026* 

---

| | |
|:---|:---|
| **Investment income:** |  |
| Interest | &nbsp;&nbsp; $15191347 |
| Dividends | &nbsp;&nbsp; 290633 |
| Dividends from affiliated money market funds | &nbsp;&nbsp; 214503 |
| Total investment income | &nbsp;&nbsp; 15696483 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 1278864 |
| Administrative services fees | &nbsp;&nbsp; 38156 |
| Custodian fees | &nbsp;&nbsp; 35648 |
| Distribution fees: |  |
| Class A | &nbsp;&nbsp; 592056 |
| Class C | &nbsp;&nbsp; 62343 |
| Class R | &nbsp;&nbsp; 28572 |
| Investor Class | &nbsp;&nbsp; 22867 |
| Transfer agent fees — A, C, R, Y and Investor | &nbsp;&nbsp; 463379 |
| Transfer agent fees — R5 | &nbsp;&nbsp; 406 |
| Transfer agent fees — R6 | &nbsp;&nbsp; 86 |
| Trustees' and officers' fees and benefits | &nbsp;&nbsp; 24596 |
| Registration and filing fees | &nbsp;&nbsp; 99546 |
| Reports to shareholders | &nbsp;&nbsp; 56862 |
| Professional services fees | &nbsp;&nbsp; 77841 |
| Other | &nbsp;&nbsp; 17092 |
| Total expenses | &nbsp;&nbsp; 2798314 |
| Less: Fees waived, expenses reimbursed and/or expense offset arrangement(s) | &nbsp;&nbsp; (25651)<br>|
| Net expenses | &nbsp;&nbsp; 2772663 |
| Net investment income | &nbsp;&nbsp; 12923820 |
| **Realized and unrealized gain (loss) from:** |  |
| Net realized gain (loss) from: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 400072 |
| Futures contracts | &nbsp;&nbsp; (473620)<br>|
|  | &nbsp;&nbsp; (73548)<br>|
| Change in net unrealized appreciation of: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 3750787 |
| Futures contracts | &nbsp;&nbsp; 475314 |
|  | &nbsp;&nbsp; 4226101 |
| Net realized and unrealized gain | &nbsp;&nbsp; 4152553 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $17076373 |

---

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

**8**

**Invesco Income Fund**

------

**Statement of Changes in Net Assets**

*For the years ended February 28, 2026 and 2025* 

---

| | | |
|:---|:---|:---|
|  | **2026** | **2025** |
| **Operations:** |  |  |
| Net investment income | &nbsp;&nbsp; $12923820 | &nbsp;&nbsp; $14042299 |
| Net realized gain (loss) | &nbsp;&nbsp; (73548)<br>| &nbsp;&nbsp; (1943503)<br>|
| Change in net unrealized appreciation | &nbsp;&nbsp; 4226101 | &nbsp;&nbsp; 9769397 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 17076373 | &nbsp;&nbsp; 21868193 |
| **Distributions to shareholders from distributable earnings:** |  |  |
| Class A | &nbsp;&nbsp; (11881512)<br>| &nbsp;&nbsp; (13017904)<br>|
| Class C | &nbsp;&nbsp; (266861)<br>| &nbsp;&nbsp; (214550)<br>|
| Class R | &nbsp;&nbsp; (272776)<br>| &nbsp;&nbsp; (245144)<br>|
| Class Y | &nbsp;&nbsp; (398951)<br>| &nbsp;&nbsp; (397329)<br>|
| Investor Class | &nbsp;&nbsp; (637883)<br>| &nbsp;&nbsp; (749842)<br>|
| Class R5 | &nbsp;&nbsp; (21625)<br>| &nbsp;&nbsp; (22197)<br>|
| Class R6 | &nbsp;&nbsp; (23085)<br>| &nbsp;&nbsp; (368726)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (13502693)<br>| &nbsp;&nbsp; (15015692)<br>|
| **Return of capital:** |  |  |
| Class A | &nbsp;&nbsp; (167334)<br>| &nbsp;&nbsp; — |
| Class C | &nbsp;&nbsp; (3758)<br>| &nbsp;&nbsp; — |
| Class R | &nbsp;&nbsp; (3842)<br>| &nbsp;&nbsp; — |
| Class Y | &nbsp;&nbsp; (5619)<br>| &nbsp;&nbsp; — |
| Investor Class | &nbsp;&nbsp; (8984)<br>| &nbsp;&nbsp; — |
| Class R5 | &nbsp;&nbsp; (305)<br>| &nbsp;&nbsp; — |
| Class R6 | &nbsp;&nbsp; (325)<br>| &nbsp;&nbsp; — |
| Total return of capital | &nbsp;&nbsp; (190167)<br>| &nbsp;&nbsp; — |
| Total distributions | &nbsp;&nbsp; (13692860)<br>| &nbsp;&nbsp; (15015692)<br>|
| **Share transactions–net:** |  |  |
| Class A | &nbsp;&nbsp; (457011)<br>| &nbsp;&nbsp; (8182963)<br>|
| Class C | &nbsp;&nbsp; 2337236 | &nbsp;&nbsp; 585604 |
| Class R | &nbsp;&nbsp; 1876278 | &nbsp;&nbsp; 98530 |
| Class Y | &nbsp;&nbsp; (231191)<br>| &nbsp;&nbsp; (836000)<br>|
| Investor Class | &nbsp;&nbsp; (1725796)<br>| &nbsp;&nbsp; (892868)<br>|
| Class R5 | &nbsp;&nbsp; 46014 | &nbsp;&nbsp; 2509 |
| Class R6 | &nbsp;&nbsp; (113686)<br>| &nbsp;&nbsp; (82127554)<br>|
| Net increase (decrease) in net assets resulting from share transactions | &nbsp;&nbsp; 1731844 | &nbsp;&nbsp; (91352742)<br>|
| Net increase (decrease) in net assets | &nbsp;&nbsp; 5115357 | &nbsp;&nbsp; (84500241)<br>|
| **Net assets:** |  |  |
| Beginning of year | &nbsp;&nbsp; 269269860 | &nbsp;&nbsp; 353770101 |
| End of year | &nbsp;&nbsp; $274385217 | &nbsp;&nbsp; $269269860 |

---

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

**9**

**Invesco Income Fund**

------

**Financial Highlights**

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

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Return of** <br>**capital**<br>| **Total** <br>**distributions**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**to average** <br>**net assets**<br>| **Portfolio** <br>**turnover** <sup>(c)</sup> <br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year ended 02/28/26 | $7.03 | $0.34 | $0.11 | $0.45 | $(0.36)<br>| $(0.00)<br>| $(0.36)<br>| $7.12 | 6.55<br> %<br>| &nbsp;&nbsp; $241048 | 1.01<br> %<br>| 1.02<br> %<br>| 4.81<br> %<br>| 219<br> %<br>|
| Year ended 02/28/25 | 6.85 | 0.36 | 0.20 | 0.56 | (0.38)<br>|  | (0.38)<br>| 7.03 | 8.42 | &nbsp;&nbsp; 238550 | 1.02 | 1.03 | 5.15 | 183 |
| Year ended 02/29/24 | 7.00 | 0.32 | (0.08)<br>| 0.24 | (0.39)<br>|  | (0.39)<br>| 6.85 | 3.62 | &nbsp;&nbsp; 240670 | 0.99 | 1.00 | 4.68 | 268 |
| Year ended 02/28/23 | 7.71 | 0.28 | (0.73)<br>| (0.45)<br>| (0.26)<br>|  | (0.26)<br>| 7.00 | (5.88)<br>| &nbsp;&nbsp; 257447 | 0.96 | 0.97 | 3.95 | 199 |
| Year ended 02/28/22 | 7.94 | 0.20 | (0.20)<br>| 0.00 | (0.23)<br>|  | (0.23)<br>| 7.71 | (0.06)<br>| &nbsp;&nbsp; 303030 | 0.91 | 0.91 | 2.56 | 220 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year ended 02/28/26 | 7.03 | 0.29 | 0.11 | 0.40 | (0.31)<br>| (0.00)<br>| (0.31)<br>| 7.12 | 5.75 | &nbsp;&nbsp; 7482 | 1.76 | 1.77 | 4.06 | 219 |
| Year ended 02/28/25 | 6.86 | 0.30 | 0.20 | 0.50 | (0.33)<br>|  | (0.33)<br>| 7.03 | 7.46 | &nbsp;&nbsp; 5045 | 1.77 | 1.78 | 4.40 | 183 |
| Year ended 02/29/24 | 7.00 | 0.27 | (0.07)<br>| 0.20 | (0.34)<br>|  | (0.34)<br>| 6.86 | 2.99 | &nbsp;&nbsp; 4340 | 1.74 | 1.75 | 3.93 | 268 |
| Year ended 02/28/23 | 7.71 | 0.23 | (0.74)<br>| (0.51)<br>| (0.20)<br>|  | (0.20)<br>| 7.00 | (6.59)<br>| &nbsp;&nbsp; 4957 | 1.71 | 1.72 | 3.20 | 199 |
| Year ended 02/28/22 | 7.94 | 0.14 | (0.20)<br>| (0.06)<br>| (0.17)<br>|  | (0.17)<br>| 7.71 | (0.81)<br>| &nbsp;&nbsp; 6586 | 1.66 | 1.66 | 1.81 | 220 |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year ended 02/28/26 | 7.03 | 0.32 | 0.11 | 0.43 | (0.34)<br>| (0.00)<br>| (0.34)<br>| 7.12 | 6.28 | &nbsp;&nbsp; 7069 | 1.26 | 1.27 | 4.56 | 219 |
| Year ended 02/28/25 | 6.86 | 0.34 | 0.19 | 0.53 | (0.36)<br>|  | (0.36)<br>| 7.03 | 7.99 | &nbsp;&nbsp; 5109 | 1.27 | 1.28 | 4.90 | 183 |
| Year ended 02/29/24 | 7.00 | 0.30 | (0.07)<br>| 0.23 | (0.37)<br>|  | (0.37)<br>| 6.86 | 3.52 | &nbsp;&nbsp; 4889 | 1.24 | 1.25 | 4.43 | 268 |
| Year ended 02/28/23 | 7.72 | 0.27 | (0.75)<br>| (0.48)<br>| (0.24)<br>|  | (0.24)<br>| 7.00 | (6.23)<br>| &nbsp;&nbsp; 3945 | 1.21 | 1.22 | 3.70 | 199 |
| Year ended 02/28/22 | 7.95 | 0.18 | (0.20)<br>| (0.02)<br>| (0.21)<br>|  | (0.21)<br>| 7.72 | (0.27)<br>| &nbsp;&nbsp; 4043 | 1.16 | 1.16 | 2.31 | 220 |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| Year ended 02/28/26 | 7.04 | 0.36 | 0.11 | 0.47 | (0.37)<br>| (0.01)<br>| (0.38)<br>| 7.13 | 6.81 | &nbsp;&nbsp; 6381 | 0.76 | 0.77 | 5.06 | 219 |
| Year ended 02/28/25 | 6.86 | 0.37 | 0.21 | 0.58 | (0.40)<br>|  | (0.40)<br>| 7.04 | 8.69 | &nbsp;&nbsp; 6525 | 0.77 | 0.78 | 5.40 | 183 |
| Year ended 02/29/24 | 7.01 | 0.34 | (0.08)<br>| 0.26 | (0.41)<br>|  | (0.41)<br>| 6.86 | 3.88 | &nbsp;&nbsp; 7189 | 0.74 | 0.75 | 4.93 | 268 |
| Year ended 02/28/23 | 7.72 | 0.30 | (0.73)<br>| (0.43)<br>| (0.28)<br>|  | (0.28)<br>| 7.01 | (5.63)<br>| &nbsp;&nbsp; 5059 | 0.71 | 0.72 | 4.20 | 199 |
| Year ended 02/28/22 | 7.95 | 0.23 | (0.21)<br>| 0.02 | (0.25)<br>|  | (0.25)<br>| 7.72 | 0.19 | &nbsp;&nbsp; 7659 | 0.66 | 0.66 | 2.81 | 220 |
| **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** |
| Year ended 02/28/26 | 7.04 | 0.34 | 0.11 | 0.45 | (0.36)<br>| (0.00)<br>| (0.36)<br>| 7.13 | 6.63 <br><sup>(d)</sup><br>| &nbsp;&nbsp; 11663 | 0.94 <br><sup>(d)</sup><br>| 0.95 <br><sup>(d)</sup><br>| 4.88 <br><sup>(d)</sup><br>| 219 |
| Year ended 02/28/25 | 6.86 | 0.36 | 0.21 | 0.57 | (0.39)<br>|  | (0.39)<br>| 7.04 | 8.50 <br><sup>(d)</sup><br>| &nbsp;&nbsp; 13241 | 0.95 <br><sup>(d)</sup><br>| 0.96 <br><sup>(d)</sup><br>| 5.22 <br><sup>(d)</sup><br>| 183 |
| Year ended 02/29/24 | 7.01 | 0.33 | (0.08)<br>| 0.25 | (0.40)<br>|  | (0.40)<br>| 6.86 | 3.70 <br><sup>(d)</sup><br>| &nbsp;&nbsp; 13792 | 0.87 <br><sup>(d)</sup><br>| 0.88 <br><sup>(d)</sup><br>| 4.80 <br><sup>(d)</sup><br>| 268 |
| Year ended 02/28/23 | 7.72 | 0.29 | (0.74)<br>| (0.45)<br>| (0.26)<br>|  | (0.26)<br>| 7.01 | (5.78 )<sup>(d)</sup><br>| &nbsp;&nbsp; 15088 | 0.91 <br><sup>(d)</sup><br>| 0.92 <br><sup>(d)</sup><br>| 4.00 <br><sup>(d)</sup><br>| 199 |
| Year ended 02/28/22 | 7.95 | 0.21 | (0.21)<br>| 0.00 | (0.23)<br>|  | (0.23)<br>| 7.72 | 0.01 <br><sup>(d)</sup><br>| &nbsp;&nbsp; 17588 | 0.83 <br><sup>(d)</sup><br>| 0.83 <br><sup>(d)</sup><br>| 2.64 <br><sup>(d)</sup><br>| 220 |
| **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** |
| Year ended 02/28/26 | 7.03 | 0.36 | 0.11 | 0.47 | (0.37)<br>| (0.01)<br>| (0.38)<br>| 7.12 | 6.88 | &nbsp;&nbsp; 436 | 0.70 | 0.70 | 5.12 | 219 |
| Year ended 02/28/25 | 6.86 | 0.38 | 0.19 | 0.57 | (0.40)<br>|  | (0.40)<br>| 7.03 | 8.62 | &nbsp;&nbsp; 385 | 0.70 | 0.70 | 5.47 | 183 |
| Year ended 02/29/24 | 7.00 | 0.34 | (0.07)<br>| 0.27 | (0.41)<br>|  | (0.41)<br>| 6.86 | 4.12 | &nbsp;&nbsp; 373 | 0.66 | 0.66 | 5.01 | 268 |
| Year ended 02/28/23 | 7.72 | 0.31 | (0.75)<br>| (0.44)<br>| (0.28)<br>|  | (0.28)<br>| 7.00 | (5.67)<br>| &nbsp;&nbsp; 351 | 0.61 | 0.62 | 4.30 | 199 |
| Year ended 02/28/22 | 7.94 | 0.23 | (0.19)<br>| 0.04 | (0.26)<br>|  | (0.26)<br>| 7.72 | 0.41 | &nbsp;&nbsp; 405 | 0.54 | 0.54 | 2.93 | 220 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| Year ended 02/28/26 | 7.04 | 0.37 | 0.11 | 0.48 | (0.38)<br>| (0.01)<br>| (0.39)<br>| 7.13 | 6.95 | &nbsp;&nbsp; 306 | 0.62 | 0.62 | 5.20 | 219 |
| Year ended 02/28/25 | 6.84 | 0.38 | 0.23 | 0.61 | (0.41)<br>|  | (0.41)<br>| 7.04 | 9.19 | &nbsp;&nbsp; 415 | 0.63 | 0.63 | 5.54 | 183 |
| Year ended 02/29/24 | 6.99 | 0.35 | (0.08)<br>| 0.27 | (0.42)<br>|  | (0.42)<br>| 6.84 | 4.04 | &nbsp;&nbsp; 82517 | 0.59 | 0.59 | 5.08 | 268 |
| Year ended 02/28/23 | 7.70 | 0.31 | (0.73)<br>| (0.42)<br>| (0.29)<br>|  | (0.29)<br>| 6.99 | (5.49)<br>| &nbsp;&nbsp; 100183 | 0.54 | 0.55 | 4.37 | 199 |
| Year ended 02/28/22 | 7.93 | 0.24 | (0.21)<br>| 0.03 | (0.26)<br>|  | (0.26)<br>| 7.70 | 0.36 | &nbsp;&nbsp; 162015 | 0.49 | 0.49 | 2.98 | 220 |

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

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

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

<sup>(d)</sup> The total return, ratios of expenses to average net assets and ratio of net investment income to average net assets reflect actual 12b-1 fees of 0.18%, 0.18%, 0.13%, 0.20% and 0.17% for the years ended February 28, 2026 and 2025, February 29, 2024, February 28, 2023 and 2022, respectively. 

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

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**Invesco Income Fund**

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**Notes to Financial Statements**

*February 28, 2026*

**NOTE 1—Significant Accounting Policies**

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

The Fund's investment objective is current income, and secondarily, capital appreciation.

The Fund currently consists of seven different classes of shares: Class A, Class C, Class R, Class Y, Investor Class, Class R5 and Class R6. Class Y shares are available only to certain investors. Class A shares are sold with a front-end sales charge unless certain waiver criteria are met. Under certain circumstances, load waived shares may be subject to contingent deferred sales charges ("CDSC"). Class C shares are sold with a CDSC. Class R, Class Y, Investor Class, Class R5 and Class R6 shares are sold at net asset value. Class C shares held for eight years after purchase are eligible for automatic conversion into Class A shares of the same Fund (the "Conversion Feature"). The automatic conversion pursuant to the Conversion Feature will generally occur at the end of the month following the eighth anniversary after a purchase of Class C shares.

Investor Class and Class R5 shares are closed to new investors.

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

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

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

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

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

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

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

Swap agreements are fair valued using an evaluated quote, if available, provided by an independent pricing service. Evaluated quotes provided by the pricing service are valued based on a model which may include end-of-day net present values, spreads, ratings, industry, company performance and returns of referenced assets. Centrally cleared swap agreements are valued at the daily settlement price determined by the relevant exchange or clearinghouse.

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

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

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

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

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

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

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer's assets, general market conditions which are not specifically related to the particular issuer, such as real or perceived adverse economic conditions, changes in the general outlook for

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revenues or corporate earnings, changes in interest or currency rates, regional or global instability, natural or environmental disasters, widespread disease or other public health issues, war, military conflicts, acts of terrorism, economic crises, economic sanctions and tariffs, significant governmental actions or adverse investor sentiment generally and market liquidity. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

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

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

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

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

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

The Fund recharacterizes distributions received from REIT investments based on information provided by the REIT into the following categories: ordinary income, long-term and short-term capital gains, and return of capital. If information is not available on a timely basis from the REIT, the recharacterization will be based on available information which may include the previous year's allocation. If new or additional information becomes available from the REIT at a later date, a recharacterization will be made in the following year. The Fund records as dividend income the amount recharacterized as ordinary income and as realized gain the amount recharacterized as capital gain in the Statement of Operations, and the amount recharacterized as return of capital as a reduction of the cost of the related investment. These recharacterizations are reflected in the accompanying financial statements.

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

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

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

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

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

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual periods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid by jurisdiction, while removing certain disclosure requirements. The Fund did not pay any material income taxes, net of refunds during the period.

**F.** **Expenses –** Fees provided for under the Rule 12b-1 plan of a particular class of the Fund are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses attributable to Class R5 and Class R6 are allocated based on relative net assets of Class R5 and Class R6. Sub-accounting fees attributable to Class R5 are charged to the operations of the class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on the relative value of settled shares.

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

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

**I.** **Segment Reporting** — The Fund represents a single operating segment, in accordance with ASC 280, Segment Reporting. Subject to the oversight and, when applicable, approval of the Board of Trustees, portfolio managers and senior executives at the Adviser act as the Fund's chief operating decision maker ("CODM"),

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assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements.

**J.** **Commercial Mortgage-Backed Securities** – The Fund may invest in both single and multi-issuer Commercial Mortgage-Backed Securities ("CMBS"). This includes both investment grade and non-investment grade CMBS as well as other non-rated CMBS. A CMBS is a type of mortgage-backed security that is secured by one or more mortgage loans on interests in commercial real estate property. CMBS differ from conventional debt securities because principal is paid back over the life of the security rather than at maturity. Investments in CMBS are subject to the various risks which relate to the pool of underlying assets in which the CMBS represents an interest. Securities backed by commercial real estate assets are subject to securities market risks as well as risks similar to those of direct ownership of commercial real estate loans. Risks include the ability of a borrower to meet its obligations on the loan which could lead to default or foreclosure of the property. Such actions may impact the amount of proceeds ultimately derived from the loan, and the timing of receipt of such proceeds.

Management estimates future expected cash flows at the time of purchase based on the anticipated repayment dates on the CMBS. Subsequent changes in expected cash flow projection may result in a prospective change in the timing or character of income recognized on these securities, or the amortized cost of these securities. The Fund amortizes premiums and/or accretes discounts based on the projected cash flows. Realized and unrealized gains and losses on CMBS are included in the Statement of Operations as *Net realized gain (loss) from unaffiliated investment securities* and *Change in net unrealized appreciation (depreciation)of unaffiliated investment securities*, respectively.

**K.** **Securities Purchased on a When-Issued and Delayed Delivery Basis** — The Fund may purchase and sell securities on a when-issued and delayed delivery basis, with payment and delivery scheduled for a future date. No income accrues to the Fund on such interests or securities in connection with such transactions prior to the date the Fund actually takes delivery of such interests or securities. These transactions are subject to market fluctuations and are subject to the risk that the value at delivery may be more or less than the trade date purchase price. Although the Fund will generally purchase these securities with the intention of acquiring such securities, they may sell such securities prior to the settlement date.

**L.** **Futures Contracts** — The Fund may enter into futures contracts to manage exposure to interest rate, equity and market price movements and/or currency risks. A futures contract is an agreement between Counterparties to purchase or sell a specified underlying security, currency or commodity (or delivery of a cash settlement price, in the case of an index future) for a fixed price at a future date. The Fund currently invests only in exchange-traded futures and they are standardized as to maturity date and underlying instrument or asset. Initial margin deposits required upon entering into futures contracts are satisfied by the segregation of specific securities or cash as collateral at the futures commission merchant (broker). During the period the futures contracts are open, changes in the value of the contracts are recognized as unrealized gains or losses by recalculating the value of the contracts on a daily basis. Subsequent or variation margin payments are received or made depending upon whether unrealized gains or losses are incurred. These amounts are reflected as receivables or payables on the Statement of Assets and Liabilities. When the contracts are closed or expire, the Fund recognizes a realized gain or loss equal to the difference between the proceeds from, or cost of, the closing transaction and the Fund's basis in the contract. The net realized gain (loss) and the change in unrealized gain (loss) on futures contracts held during the period is included on the Statement of Operations. The primary risks associated with futures contracts are market risk and the absence of a liquid secondary market. If the Fund were unable to liquidate a futures contract and/or enter into an offsetting closing transaction, the Fund would continue to be subject to market risk with respect to the value of the contracts and continue to be required to maintain the margin deposits on the futures contracts. Futures contracts have minimal Counterparty risk since the exchange's clearinghouse, as Counterparty to all exchange-traded futures, guarantees the futures against default. Risks may exceed amounts recognized in the Statement of Assets and Liabilities.

**M.** **Dollar Rolls and Forward Commitment Transactions** - The Fund may enter into dollar roll transactions to enhance the Fund's performance. The Fund executes its dollar roll transactions in the *to be announced* ("TBA") market whereby the Fund makes a forward commitment to purchase a security and, instead of accepting delivery, the position is offset by the sale of the security with a simultaneous agreement to repurchase at a future date.

The Fund accounts for dollar roll transactions as purchases and sales and realizes gains and losses on these transactions. These transactions increase the Fund's portfolio turnover rate.

Dollar roll transactions involve the risk that a Counterparty to the transaction may fail to complete the transaction. If this occurs, the Fund may lose the opportunity to purchase or sell the security at the agreed upon price. Dollar roll transactions also involve the risk that the value of the securities retained by the Fund may decline below the price of the securities that the Fund has sold but is obligated to purchase under the agreement.

**N.** **Collateral** —To the extent the Fund has designated or segregated a security as collateral and that security is subsequently sold, it is the Fund's practice to replace such collateral no later than the next business day. This practice does not apply to securities pledged as collateral for securities lending transactions.

**O.** **Leverage Risk** — Leverage exists when the Fund can lose more than it originally invests because it purchases or sells an instrument or enters into a transaction without investing an amount equal to the full economic exposure of the instrument or transaction.

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

Fluctuations in the federal funds and equivalent foreign rates or other changes to monetary policy or regulatory actions may expose fixed income markets to heightened volatility, perhaps suddenly and to a significant degree, and to reduced liquidity for certain fixed income investments, particularly those with longer maturities. Such changes and resulting increased volatility may adversely impact the Fund, including its operations, universe of potential investment options, and return potential. It is difficult to predict the impact of interest rate changes on various markets. In addition, decreases in fixed income dealer market-making capacity may also potentially lead to heightened volatility and reduced liquidity in the fixed income markets. As a result, the value of the Fund's investments and share price may decline. Changes in central bank policies and other governmental actions and political events within the U.S. and abroad may also, among other things, affect investor and consumer expectations and confidence in the financial markets. This could result in higher than normal redemptions by shareholders, which could potentially increase the Fund's portfolio turnover rate and transaction costs.

CLOs are subject to the risks of substantial losses due to actual defaults by underlying borrowers, which will be greater during periods of economic or financial stress. CLOs may also lose value due to collateral defaults and disappearance of subordinate tranches, market anticipation of defaults, and investor aversion to CLO securities as a class. The risks of CLOs will be greater if the Fund invests in CLOs that hold loans of uncreditworthy borrowers or if the Fund holds subordinate tranches of the CLO that absorbs losses from the defaults before senior tranches. In addition, CLOs are subject to interest rate risk and credit risk.

The market values of convertible securities are affected by market interest rates, the risk of actual issuer default on interest or principal payments and the value of the underlying common stock into which the convertible security may be converted. Additionally, a convertible security is subject to the same types of market and issuer risks as apply to the underlying common stock. In addition, certain convertible securities are subject to involuntary conversions and may undergo principal write-downs upon the occurrence of certain triggering events, and, as a result, are subject to an increased risk of loss. Convertible securities may be rated below investment grade.

Investments in the securities of non-U.S. issuers involve risks beyond those associated with investments in U.S. securities. Foreign securities may have relatively low market liquidity, greater market volatility, decreased publicly available information and less reliable financial information about issuers, and inconsistent and potentially less stringent accounting, auditing and financial reporting requirements and standards of practice, including recordkeeping standards, comparable to those applicable to domestic issuers. Foreign securities also are subject to the risks of possible seizure, expropriation, nationalization, political or social instability, changes in economic or taxation policies or other adverse political or economic developments (in which the Fund could lose its entire investments in a certain market) and the difficulty of enforcing obligations in other countries, including the possible adoption of foreign governmental restrictions such as

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**Invesco Income Fund**

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exchange controls. Investments in foreign securities also may be subject to dividend withholding or confiscatory taxes, currency blockage and/or transfer restrictions and higher transactional costs. To the extent the Fund invests in securities denominated in foreign currencies, fluctuations in the value of the U.S. dollar relative to the values of other currencies may adversely affect investments in foreign securities and may negatively impact the Fund's returns, unless the Fund has hedged its foreign currency exposure. Currency exchange rates may fluctuate significantly over short periods of time. Currency hedging strategies, if used, may not always be successful. Foreign companies generally may be subject to less stringent regulations than U.S. companies, including financial reporting requirements and auditing and accounting controls, and may therefore be more susceptible to fraud or corruption. There may be less public information available about foreign companies than U.S. companies, making it difficult to evaluate those foreign companies. From time to time, certain companies in which the Fund invests may operate in, or have dealings with, countries subject to sanctions or embargoes imposed by the U.S. government and the United Nations and/or in countries the U.S. government identified as state sponsors of terrorism. One or more of these companies may be subject to constraints under U.S. law or regulations that could negatively affect the company's performance. Additionally, one or more of these companies could suffer damage to its reputation if the market identifies it as a company that invests or deals with countries that the U.S. government identifies as state sponsors of terrorism or is subject to sanctions.

To the extent the Fund invests in emerging markets, emerging markets (also referred to as developing markets) are generally subject to greater market volatility, political, social and economic instability, uncertain trading markets and more governmental limitations on foreign investment than more developed markets.

The Fund may from time to time have a substantial amount of its assets invested in securities of issuers located in a single country or a limited number of countries. Adverse economic, political or social conditions in those countries may therefore have a significant negative impact on the Fund's investment performance.

Investments in high yield debt securities ("junk bonds") and other lower-rated securities will subject the Fund to substantial risk of loss. These securities are considered to be speculative with respect to the issuer's ability to pay interest and principal when due, are more susceptible to default or decline in market value and are less liquid than investment grade debt securities. Prices of high yield debt securities tend to be very volatile. The values of high yield debt securities often fluctuate more in response to company, political, regulatory or economic developments than higher quality bonds, and their values can decline significantly over short periods of time or during periods of economic difficulty when the bonds could be difficult to value or sell at a fair price, thus subjecting the Fund to a substantial risk of loss.

Mortgage- and asset-backed securities, including collateralized debt obligations and collateralized mortgage obligations, are subject to prepayment or call risk, which is the risk that a borrower's payments may be received earlier or later than expected due to changes in prepayment rates on underlying loans. This could result in the Fund reinvesting these early payments at lower interest rates, thereby reducing the Fund's income. Mortgage- and asset-backed securities also are subject to extension risk, which is the risk that an unexpected rise in interest rates could reduce the rate of prepayments, causing the price of the mortgage- and asset-backed securities and the Fund's share price to fall. An unexpectedly high rate of defaults on the mortgages held by a mortgage pool may adversely affect the value of mortgage-backed securities and could result in losses to the Fund. Privately-issued mortgage-backed securities and asset-backed securities may be less liquid than other types of securities and the Fund may be unable to sell these securities at the time or price it desires.

Preferred securities are subject to issuer-specific and market risks applicable generally to equity securities. Preferred securities also may be subordinated to bonds or other debt instruments, subjecting them to a greater risk of non-payment, may be less liquid than many other securities, such as common stocks, and generally offer no voting rights with respect to the issuer.

The Fund's investments are concentrated in a comparatively narrow segment of the economy. Consequently, the Fund may tend to be more volatile than other mutual funds, and the value of the Fund's investments may tend to rise and fall more rapidly.

Because the Fund concentrates its assets in the real estate finance industry, an investment in the Fund will be closely linked to the performance of the real estate markets. Investments in real estate related instruments, including CMBS, residential mortgage-backed securities ("RMBS"), CLOs and REITs, may be affected by economic, legal, cultural, environmental or technological factors that affect property values, rents or occupancies of real estate related to the Fund's holdings.

Active trading of portfolio securities may result in added expenses, a lower return and increased tax liability.

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

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

---

| | |
|:---|:---|
| **Average Daily Net Assets** | **Rate** |
| First $200 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.500% |
| Next $300 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.400% |
| Next $500 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.350% |
| Next $19.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.300% |
| Over $20.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.240% |

---

For the year ended February 28, 2026, the effective advisory fee rate incurred by the Fund was 0.47%.

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

The Adviser has agreed, for an indefinite period, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Class A, Class C, Class R, Class Y, Investor Class, Class R5 and Class R6 shares to 1.50%, 2.25%, 1.75%, 1.25%, 1.50%, 1.25% and 1.25%, respectively, of the Fund's average daily net assets (the "boundary limits"). In determining the Adviser's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the total annual fund operating expenses after fee waiver and/or expense reimbursement to exceed the numbers reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses; and (5) expenses that the Fund has incurred but did not actually pay because of an expense offset arrangement. Invesco may amend and/or terminate these boundary limits at any time in its sole discretion and will inform the Board of Trustees of any such changes. The Adviser did not waive fees and/or reimburse expenses during the period under these boundary limits.

Further, the Adviser has contractually agreed, through at least August 31, 2027, to waive the advisory fee payable by the Fund in an amount equal to the advisory fees earned by the Adviser and/or its affiliates on underlying affiliated investments, including 100% of the net advisory fees the Adviser receives from any affiliated money market funds on investments by the Fund of uninvested cash in such affiliated money market funds.

For the year ended February 28, 2026, the Adviser waived advisory fees of $5,868.

The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the year ended February 28, 2026, expenses incurred under the agreement are shown in the Statement of Operations as *Administrative services fees*. Invesco has entered into a sub-administration agreement whereby State Street Bank and Trust Company

**14**

**Invesco Income Fund**

------

("SSB") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, SSB also serves as the Fund's custodian.

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") pursuant to which the Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to the Fund and reimburse IIS for certain expenses incurred by IIS in the course of providing such services. IIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. All fees payable by IIS to intermediaries that provide omnibus account services or sub-accounting services are charged back to the Fund, subject to certain limitations approved by the Trust's Board of Trustees. For the year ended February 28, 2026, expenses incurred under the agreement are shown in the Statement of Operations as *Transfer agent fees*.

The Trust has entered into master distribution agreements with Invesco Distributors, Inc. ("IDI") to serve as the distributor for the Class A, Class C, Class R, Class Y, Investor Class, Class R5 and Class R6 shares of the Fund. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Class A, Class C, Class R and Investor Class shares (collectively, the "Plans"). The Fund, pursuant to the Plans, pays IDI compensation at the annual rate of 0.25% of the Fund's average daily net assets of Class A shares, 1.00% of the average daily net assets of Class C shares and 0.50% of the average daily net assets of Class R shares. The Fund, pursuant to the Investor Class Plan, reimburses IDI for its allocated share of expenses incurred pursuant to the Investor Class Plan for the period, up to a maximum annual rate of 0.25% of the average daily net assets of Investor Class shares. The fees are accrued daily and paid monthly. Of the Plans payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such classes. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended February 28, 2026, expenses incurred under the Plans are shown in the Statement of Operations as *Distribution fees*.

Front-end sales commissions and CDSC (collectively, the "sales charges") are not recorded as expenses of the Fund. Front-end sales commissions are deducted from proceeds from the sales of Fund shares prior to investment in Class A shares of the Fund. CDSC are deducted from redemption proceeds prior to remittance to the shareholder. During the year ended February 28, 2026, IDI advised the Fund that IDI retained $9,693 in front-end sales commissions from the sale of Class A shares and $810 and $583 from Class A and Class C shares, respectively, for CDSC imposed upon redemptions by shareholders.

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

**NOTE 3—Additional Valuation Information**

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

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

Level 2 – Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. 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 the Adviser's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

The following is a summary of the tiered valuation input levels, as of February 28, 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** |  |  |  |  |
| Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $198401144 | &nbsp;&nbsp;&nbsp;&nbsp; $1494789 | &nbsp;&nbsp;&nbsp;&nbsp; $199895933 |
| U.S. Government Sponsored Agency Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 77936432 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 77936432 |
| U.S. Treasury Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 24622345 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 24622345 |
| Agency Credit Risk Transfer Notes | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 20966742 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 20966742 |
| Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 3203229 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3203229 |
| Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp; 6720084 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6720084 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp;&nbsp; 9923313 | &nbsp;&nbsp;&nbsp;&nbsp; 321926663 | &nbsp;&nbsp;&nbsp;&nbsp; 1494789 | &nbsp;&nbsp;&nbsp;&nbsp; 333344765 |
| **Other Investments - Assets\*** |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; 417599 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 417599 |
| **Other Investments - Liabilities\*** |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; (1368)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1368)<br>|
| **Total Other Investments** | &nbsp;&nbsp;&nbsp;&nbsp; 416231 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 416231 |
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $10339544 | &nbsp;&nbsp;&nbsp;&nbsp; $321926663 | &nbsp;&nbsp;&nbsp;&nbsp; $1494789 | &nbsp;&nbsp;&nbsp;&nbsp; $333760996 |

---

\* Unrealized appreciation (depreciation).

**NOTE 4—Derivative Investments**

The Fund may enter into an ISDA Master Agreement under which a fund may trade OTC derivatives. An OTC transaction entered into under an ISDA Master Agreement typically involves a collateral posting arrangement, payment netting provisions and close-out netting provisions. These netting provisions allow for reduction of credit risk through netting of contractual obligations. The enforceability of the netting provisions of the ISDA Master Agreement depends on the governing law of the ISDA Master Agreement, among other factors.

For financial reporting purposes, the Fund does not offset OTC derivative assets or liabilities that are subject to ISDA Master Agreements in the Statement of Assets and Liabilities.

**15**

**Invesco Income Fund**

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**Value of Derivative Investments at Period-End**

The table below summarizes the value of the Fund's derivative investments, detailed by primary risk exposure, held as of February 28, 2026:

---

| | |
|:---|:---|
|  | **Value** |
| **Derivative Assets** | &nbsp;&nbsp;&nbsp;&nbsp; **Interest** <br>**Rate Risk**<br>|
| Unrealized appreciation on futures contracts —Exchange-Traded<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; $417599 |
| Derivatives not subject to master netting agreements | &nbsp;&nbsp;&nbsp;&nbsp; (417599)<br>|
| Total Derivative Assets subject to master netting agreements | &nbsp;&nbsp;&nbsp;&nbsp; $— |
|  | **Value** |
| **Derivative Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp; **Interest** <br>**Rate Risk**<br>|
| Unrealized depreciation on futures contracts —Exchange-Traded<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; $(1368)<br>|
| Derivatives not subject to master netting agreements | &nbsp;&nbsp;&nbsp;&nbsp; 1368 |
| Total Derivative Liabilities subject to master netting agreements | &nbsp;&nbsp;&nbsp;&nbsp; $— |

---

<sup>(a)</sup> The daily variation margin receivable (payable) at period end is recorded in the Statement of Assets and Liabilities.

**Effect of Derivative Investments for the year ended February 28, 2026**

The table below summarizes the gains (losses) on derivative investments, detailed by primary risk exposure, recognized in earnings during the period:

---

| | |
|:---|:---|
|  | **Location of Gain (Loss) on** <br>**Statement of Operations**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Interest** <br>**Rate Risk**<br>|
| Realized Gain (Loss): |  |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; $(473620)<br>|
| Change in Net Unrealized Appreciation: |  |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; 475314 |
| Total | &nbsp;&nbsp;&nbsp;&nbsp; $1694 |

---

The table below summarizes the average notional value of derivatives held during the period.

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Futures** <br>**Contracts**<br>|
| Average notional value | &nbsp;&nbsp;&nbsp;&nbsp; $88945115 |

---

**NOTE 5—Expense Offset Arrangement(s)**

The expense offset arrangement is comprised of transfer agency credits which result from balances in demand deposit accounts used by the transfer agent for clearing shareholder transactions. For the year ended February 28, 2026, the Fund received credits from this arrangement, which resulted in the reduction of the Fund's total expenses of $19,783.

**NOTE 6—Trustees' and Officers' Fees and Benefits**

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

**NOTE 7—Cash Balances**

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

**16**

**Invesco Income Fund**

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**NOTE 8—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** |
|  | **2026** | **2025** |
| Ordinary income\* | &nbsp;&nbsp; $13502693 | &nbsp;&nbsp;&nbsp;&nbsp; $15015692 |
| Return of capital | &nbsp;&nbsp; 190167 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total distributions | &nbsp;&nbsp; $13692860 | &nbsp;&nbsp;&nbsp;&nbsp; $15015692 |

---

\* Includes short-term capital gain distributions, if any.

---

| | |
|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | **2026** |
| Net unrealized appreciation (depreciation) — investments | &nbsp;&nbsp;&nbsp;&nbsp; $(1614909)<br>|
| Temporary book/tax differences | &nbsp;&nbsp;&nbsp;&nbsp; (98799)<br>|
| Capital loss carryforward | &nbsp;&nbsp;&nbsp;&nbsp; (99622798)<br>|
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp;&nbsp; 375721723 |
| Total net assets | &nbsp;&nbsp;&nbsp;&nbsp; $274385217 |

---

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is due to differences in the timing of recognition of gains and losses on investments for tax and book purposes. The Fund's net unrealized appreciation (depreciation) difference is attributable primarily to lower-rated debt securities and derivative instruments.

The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Fund's temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits.

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

The Fund has a capital loss carryforward as of February 28, 2026, as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** |
| **Expiration** | **Short-Term** | **Long-Term** | **Total** |
| Not subject to expiration | &nbsp;&nbsp;&nbsp;&nbsp; $21610105 | &nbsp;&nbsp;&nbsp;&nbsp; $78012693 | &nbsp;&nbsp;&nbsp;&nbsp; $99622798 |

---

\*

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

**NOTE 9—Investment Transactions**

The aggregate amount of investment securities (other than short-term securities, U.S. Government obligations and money market funds, if any) purchased and sold by the Fund during the year ended February 28, 2026 was $54,097,576 and $63,403,022, respectively. As of February 28, 2026, the aggregate cost of investments, including any derivatives, on a tax basis listed below includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:

---

| | |
|:---|:---|
| **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** | **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** |
| Aggregate unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $5924514 |
| Aggregate unrealized (depreciation) of investments | &nbsp;&nbsp;&nbsp;&nbsp; (7539423)<br>|
| Net unrealized appreciation (depreciation) of investments | &nbsp;&nbsp;&nbsp;&nbsp; $(1614909)<br>|

---

Cost of investments for tax purposes is $335,375,905.

**NOTE 10—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of lower-rated debt securities, return of capital distributions and dollar rolls, on February 28, 2026, undistributed net investment income was increased by $1,128,887, undistributed net realized gain (loss) was decreased by $938,719 and shares of beneficial interest was decreased by $190,168. This reclassification had no effect on the net assets of the Fund.

**NOTE 11—Share Information** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended** <br>**February 28, 2026**<sup>(a)</sup>  | **Year ended** <br>**February 28, 2026**<sup>(a)</sup>  | **Year ended** <br>**February 28, 2025** | **Year ended** <br>**February 28, 2025** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 2968573 | &nbsp;&nbsp;&nbsp; $20932839 | &nbsp;&nbsp;&nbsp; 2006510 | &nbsp;&nbsp;&nbsp; $13934095 |
| Class C | &nbsp;&nbsp;&nbsp; 647123 | &nbsp;&nbsp;&nbsp; 4550353 | &nbsp;&nbsp;&nbsp; 269146 | &nbsp;&nbsp;&nbsp; 1867490 |
| Class R | &nbsp;&nbsp;&nbsp; 372118 | &nbsp;&nbsp;&nbsp; 2623144 | &nbsp;&nbsp;&nbsp; 215037 | &nbsp;&nbsp;&nbsp; 1492666 |
| Class Y | &nbsp;&nbsp;&nbsp; 719964 | &nbsp;&nbsp;&nbsp; 5087063 | &nbsp;&nbsp;&nbsp; 305238 | &nbsp;&nbsp;&nbsp; 2116943 |
| Investor Class | &nbsp;&nbsp;&nbsp; 62335 | &nbsp;&nbsp;&nbsp; 439221 | &nbsp;&nbsp;&nbsp; 61695 | &nbsp;&nbsp;&nbsp; 428474 |
| Class R5 | &nbsp;&nbsp;&nbsp; 3970 | &nbsp;&nbsp;&nbsp; 28002 | &nbsp;&nbsp;&nbsp; 2198 | &nbsp;&nbsp;&nbsp; 15229 |
| Class R6 | &nbsp;&nbsp;&nbsp; 24817 | &nbsp;&nbsp;&nbsp; 174762 | &nbsp;&nbsp;&nbsp; 60461 | &nbsp;&nbsp;&nbsp; 418916 |

---

**17**

**Invesco Income Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended**<br> **February 28, 2026**<sup>(a)</sup> | **Year ended**<br> **February 28, 2026**<sup>(a)</sup> | **Year ended**<br> **February 28, 2025** | **Year ended**<br> **February 28, 2025** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 1498437 | &nbsp;&nbsp;&nbsp; $10565782 | &nbsp;&nbsp;&nbsp; 1645284 | &nbsp;&nbsp;&nbsp; $11393498 |
| Class C | &nbsp;&nbsp;&nbsp; 32773 | &nbsp;&nbsp;&nbsp; 231345 | &nbsp;&nbsp;&nbsp; 26316 | &nbsp;&nbsp;&nbsp; 182375 |
| Class R | &nbsp;&nbsp;&nbsp; 38934 | &nbsp;&nbsp;&nbsp; 274832 | &nbsp;&nbsp;&nbsp; 35076 | &nbsp;&nbsp;&nbsp; 242996 |
| Class Y | &nbsp;&nbsp;&nbsp; 33068 | &nbsp;&nbsp;&nbsp; 233433 | &nbsp;&nbsp;&nbsp; 35341 | &nbsp;&nbsp;&nbsp; 244809 |
| Investor Class | &nbsp;&nbsp;&nbsp; 84866 | &nbsp;&nbsp;&nbsp; 599069 | &nbsp;&nbsp;&nbsp; 101017 | &nbsp;&nbsp;&nbsp; 700472 |
| Class R5 | &nbsp;&nbsp;&nbsp; 3041 | &nbsp;&nbsp;&nbsp; 21461 | &nbsp;&nbsp;&nbsp; 3013 | &nbsp;&nbsp;&nbsp; 20882 |
| Class R6 | &nbsp;&nbsp;&nbsp; 3256 | &nbsp;&nbsp;&nbsp; 22974 | &nbsp;&nbsp;&nbsp; 53488 | &nbsp;&nbsp;&nbsp; 367522 |
| **Automatic conversion of Class C shares to Class A shares:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 79132 | &nbsp;&nbsp;&nbsp; 558320 | &nbsp;&nbsp;&nbsp; 72705 | &nbsp;&nbsp;&nbsp; 503534 |
| Class C | &nbsp;&nbsp;&nbsp; (79089)<br>| &nbsp;&nbsp;&nbsp; (558320)<br>| &nbsp;&nbsp;&nbsp; (72638)<br>| &nbsp;&nbsp;&nbsp; (503534)<br>|
| **Reacquired:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; (4617128)<br>| &nbsp;&nbsp;&nbsp; (32513952)<br>| &nbsp;&nbsp;&nbsp; (4918178)<br>| &nbsp;&nbsp;&nbsp; (34014090)<br>|
| Class C | &nbsp;&nbsp;&nbsp; (267563)<br>| &nbsp;&nbsp;&nbsp; (1886142)<br>| &nbsp;&nbsp;&nbsp; (138568)<br>| &nbsp;&nbsp;&nbsp; (960727)<br>|
| Class R | &nbsp;&nbsp;&nbsp; (144950)<br>| &nbsp;&nbsp;&nbsp; (1021698)<br>| &nbsp;&nbsp;&nbsp; (236935)<br>| &nbsp;&nbsp;&nbsp; (1637132)<br>|
| Class Y | &nbsp;&nbsp;&nbsp; (784597)<br>| &nbsp;&nbsp;&nbsp; (5551687)<br>| &nbsp;&nbsp;&nbsp; (461578)<br>| &nbsp;&nbsp;&nbsp; (3197752)<br>|
| Investor Class | &nbsp;&nbsp;&nbsp; (391630)<br>| &nbsp;&nbsp;&nbsp; (2764086)<br>| &nbsp;&nbsp;&nbsp; (291832)<br>| &nbsp;&nbsp;&nbsp; (2021814)<br>|
| Class R5 | &nbsp;&nbsp;&nbsp; (488)<br>| &nbsp;&nbsp;&nbsp; (3449)<br>| &nbsp;&nbsp;&nbsp; (4854)<br>| &nbsp;&nbsp;&nbsp; (33602)<br>|
| Class R6 | &nbsp;&nbsp;&nbsp; (44100)<br>| &nbsp;&nbsp;&nbsp; (311422)<br>| &nbsp;&nbsp;&nbsp; (12111278)<br>| &nbsp;&nbsp;&nbsp; (82913992)<br>|
| Net increase (decrease) in share activity | &nbsp;&nbsp;&nbsp; 242862 | &nbsp;&nbsp;&nbsp; $1731844 | &nbsp;&nbsp;&nbsp; (13343336)<br>| &nbsp;&nbsp;&nbsp; $(91352742)<br>|

---

<sup>(a)</sup> There is an entity that is a record owner of more than 5% of the outstanding shares of the Fund and owns 11% of the outstanding shares of the Fund. IDI has an agreement with this entity to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to this entity, which is considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as, securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by this entity are also owned beneficially.

**18**

**Invesco Income Fund**

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Investment Securities Funds (Invesco Investment Securities Funds) and Shareholders of Invesco Income Fund

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco Income Fund (one of the funds constituting AIM Investment Securities Funds (Invesco Investment Securities Funds), referred to hereafter as the "Fund") as of February 28, 2026, the related statement of operations for the year ended February 28, 2026, the statement of changes in net assets for each of the two years in the period ended February 28, 2026, including the related notes, and the financial highlights for each of the five years in the period ended February 28, 2026 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 28, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended February 28, 2026 and the financial highlights for each of the five years in the period ended February 28, 2026 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026 by correspondence with the custodian, transfer agent and brokers. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP&nbsp;&nbsp;&nbsp;&nbsp;

Houston, Texas

April 28, 2026

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**19**

**Invesco Income Fund**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year–end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended February 28, 2026:

---

| | |
|:---|:---|
| **Federal and State Income Tax** |  |
| Qualified Dividend Income\* | &nbsp;&nbsp; 0.00% |
| Corporate Dividends Received Deduction\* | &nbsp;&nbsp; 0.00% |
| U.S. Treasury Obligations\* | &nbsp;&nbsp; 5.99% |
| Qualified Business Income\* | &nbsp;&nbsp; 0.00% |
| Business Interest Income\* | &nbsp;&nbsp; 93.70% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

**20**

**Invesco Income Fund**

------

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

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

Not applicable.

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

Not applicable.

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

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

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

Not applicable.

**21**

**Invesco Income Fund**

------

![](img77cb585d1.jpg)

SEC file number(s): 811-05686 and 033-39519

Invesco Distributors, Inc.

INC-NCSR

------

![](imga77a07171.jpg)

------

**Annual Financial Statements and Other Information**

**February 28, 2026**

**Invesco Real Estate Fund**

Nasdaq:

A: IARAX ■ C: IARCX ■ R: IARRX ■ Y: IARYX ■ Investor: REINX ■ R5: IARIX ■ R6: IARFX

------

---

| | |
|:---|:---|
| [2](#xx_0f41c5c2-8ac6-457b-89fb-a41b6cfb0f00_SOI-Continued-118_1) | Schedule of Investments |
| [4](#xx_0f41c5c2-8ac6-457b-89fb-a41b6cfb0f00_FS-Continued-118_1) | Financial Statements |
| [7](#xx_0f41c5c2-8ac6-457b-89fb-a41b6cfb0f00_FS-Continued-118_4) | Financial Highlights |
| [8](#xx_0f41c5c2-8ac6-457b-89fb-a41b6cfb0f00_NTF-Continued-118_1) | Notes to Financial Statements |
| [14](#xx_0f41c5c2-8ac6-457b-89fb-a41b6cfb0f00_ARS-Continued-118_1) | Report of Independent Registered Public Accounting Firm |
| [15](#xx_0f41c5c2-8ac6-457b-89fb-a41b6cfb0f00_TI-Continued-118_1) | Tax Information |
| [16](#xx_0f41c5c2-8ac6-457b-89fb-a41b6cfb0f00_OIRSR-Continued-118_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

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

*February 28, 2026*

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests–99.72%** | **Common Stocks & Other Equity Interests–99.72%** | **Common Stocks & Other Equity Interests–99.72%** |
| **Apartments –6.01%** |  |  |
| Camden Property Trust | 191676 | &nbsp;&nbsp; $20766178 |
| UDR, Inc. | 562880 | &nbsp;&nbsp; 21108000 |
|  |  | &nbsp;&nbsp; 41874178 |
| **Data Centers –12.09%** |  |  |
| Digital Realty Trust, Inc. | 243529 | &nbsp;&nbsp; 43153339 |
| Equinix, Inc. | 42171 | &nbsp;&nbsp; 41085518 |
|  |  | &nbsp;&nbsp; 84238857 |
| **Diversified –4.96%** |  |  |
| Broadstone Net Lease, Inc. | 531941 | &nbsp;&nbsp; 10314336 |
| W.P. Carey, Inc. | 325096 | &nbsp;&nbsp; 24268416 |
|  |  | &nbsp;&nbsp; 34582752 |
| **Free Standing–1.70%** |  |  |
| Essential Properties Realty Trust, <br> Inc.<sup>(b)</sup>  | 349499 | &nbsp;&nbsp; 11861996 |
| **Gaming REITs–3.10%** |  |  |
| Gaming and Leisure Properties, Inc. | 442234 | &nbsp;&nbsp; 21629665 |
| **Health Care–17.47%** |  |  |
| American Healthcare REIT, Inc.<sup>(b)</sup>  | 273175 | &nbsp;&nbsp; 14270662 |
| CareTrust REIT, Inc. | 208770 | &nbsp;&nbsp; 8480237 |
| Healthcare Realty Trust, Inc. | 379871 | &nbsp;&nbsp; 7008620 |
| Omega Healthcare Investors, Inc. | 431735 | &nbsp;&nbsp; 20839849 |
| Ventas, Inc. | 84438 | &nbsp;&nbsp; 7275178 |
| Welltower, Inc. | 308270 | &nbsp;&nbsp; 63848882 |
|  |  | &nbsp;&nbsp; 121723428 |
| **Industrial–13.92%** |  |  |
| EastGroup Properties, Inc. | 98298 | &nbsp;&nbsp; 19296880 |
| First Industrial Realty Trust, Inc. | 373091 | &nbsp;&nbsp; 23556966 |
| Prologis, Inc. | 379682 | &nbsp;&nbsp; 54131263 |
|  |  | &nbsp;&nbsp; 96985109 |
| **Lodging Resorts–2.52%** |  |  |
| Hilton Worldwide Holdings, Inc. | 23973 | &nbsp;&nbsp; 7474302 |
| Ryman Hospitality Properties, Inc.<sup>(b)</sup>  | 102183 | &nbsp;&nbsp; 10090571 |
|  |  | &nbsp;&nbsp; 17564873 |
| **Office–3.29%** |  |  |
| BXP, Inc. | 134825 | &nbsp;&nbsp; 7763224 |
| Cousins Properties, Inc. | 391589 | &nbsp;&nbsp; 9069201 |
| Vornado Realty Trust | 221537 | &nbsp;&nbsp; 6109990 |
|  |  | &nbsp;&nbsp; 22942415 |
| **Regional Malls–5.02%** |  |  |
| Simon Property Group, Inc. | 171481 | &nbsp;&nbsp; 34956402 |
| **Self Storage–5.97%** |  |  |
| CubeSmart | 330377 | &nbsp;&nbsp; 13591710 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares** | **Shares** | **Value** |
| **Self Storage–(continued)** | **Self Storage–(continued)** |  |  |
| Extra Space Storage, Inc. | Extra Space Storage, Inc. | 185374 | &nbsp;&nbsp; $27997035 |
|  |  |  | &nbsp;&nbsp; 41588745 |
| **Shopping Centers–6.06%** | **Shopping Centers–6.06%** |  |  |
| Brixmor Property Group, Inc. | Brixmor Property Group, Inc. | 656603 | &nbsp;&nbsp; 19875373 |
| Kimco Realty Corp. | Kimco Realty Corp. | 466988 | &nbsp;&nbsp; 10997567 |
| Tanger, Inc. | Tanger, Inc. | 306513 | &nbsp;&nbsp; 11359372 |
|  |  |  | &nbsp;&nbsp; 42232312 |
| **Single Family Homes–1.16%** | **Single Family Homes–1.16%** |  |  |
| American Homes 4 Rent, Class A | American Homes 4 Rent, Class A | 269153 | &nbsp;&nbsp; 8074590 |
| **Specialty–5.58%** | **Specialty–5.58%** |  |  |
| Iron Mountain, Inc. | Iron Mountain, Inc. | 201079 | &nbsp;&nbsp; 21782888 |
| Lamar Advertising Co., Class A | Lamar Advertising Co., Class A | 123968 | &nbsp;&nbsp; 17075353 |
|  |  |  | &nbsp;&nbsp; 38858241 |
| **Telecommunications REIT–9.26%** | **Telecommunications REIT–9.26%** |  |  |
| American Tower Corp. | American Tower Corp. | 201444 | &nbsp;&nbsp; 38649046 |
| Crown Castle, Inc. | Crown Castle, Inc. | 288630 | &nbsp;&nbsp; 25843930 |
|  |  |  | &nbsp;&nbsp; 64492976 |
| **Timber REITs–1.61%** | **Timber REITs–1.61%** |  |  |
| Weyerhaeuser Co. | Weyerhaeuser Co. | 456284 | &nbsp;&nbsp; 11192647 |
| Total Common Stocks & Other Equity Interests <br> (Cost $500,428,686) | Total Common Stocks & Other Equity Interests <br> (Cost $500,428,686) | Total Common Stocks & Other Equity Interests <br> (Cost $500,428,686) | &nbsp;&nbsp; 694799186 |
| **Money Market Funds–0.42%** | **Money Market Funds–0.42%** | **Money Market Funds–0.42%** | **Money Market Funds–0.42%** |
| Invesco Government & Agency Portfolio, <br> Institutional Class, 3.59%<sup>(c)(d)</sup>  | Invesco Government & Agency Portfolio, <br> Institutional Class, 3.59%<sup>(c)(d)</sup>  | 1030069 | &nbsp;&nbsp; 1030069 |
| Invesco Treasury Portfolio, Institutional <br> Class, 3.56%<sup>(c)(d)</sup>  | Invesco Treasury Portfolio, Institutional <br> Class, 3.56%<sup>(c)(d)</sup>  | 1913950 | &nbsp;&nbsp; 1913950 |
| Total Money Market Funds (Cost $2,944,019) | Total Money Market Funds (Cost $2,944,019) | Total Money Market Funds (Cost $2,944,019) | &nbsp;&nbsp; 2944019 |
| TOTAL INVESTMENTS IN SECURITIES <br> (excluding investments purchased <br> with cash collateral from securities <br> on loan)-100.14% <br> (Cost $503,372,705)<br>|  |  | &nbsp;&nbsp; 697743205 |
| **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–3.92%** | **Money Market Funds–3.92%** |  |  |
| Invesco Private Government Fund, <br> 3.64%<sup>(c)(d)(e)</sup>  | Invesco Private Government Fund, <br> 3.64%<sup>(c)(d)(e)</sup>  | 7595590 | &nbsp;&nbsp; 7595590 |
| Invesco Private Prime Fund, 3.81%<sup>(c)(d)(e)</sup>  | Invesco Private Prime Fund, 3.81%<sup>(c)(d)(e)</sup>  | 19704698 | &nbsp;&nbsp; 19710609 |
| Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $27,306,199) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $27,306,199) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $27,306,199) | &nbsp;&nbsp; 27306199 |
| TOTAL INVESTMENTS IN SECURITIES–104.06% <br> (Cost $530,678,904) | TOTAL INVESTMENTS IN SECURITIES–104.06% <br> (Cost $530,678,904) | TOTAL INVESTMENTS IN SECURITIES–104.06% <br> (Cost $530,678,904) | &nbsp;&nbsp; 725049404 |
| OTHER ASSETS LESS LIABILITIES–(4.06)% | OTHER ASSETS LESS LIABILITIES–(4.06)% | OTHER ASSETS LESS LIABILITIES–(4.06)% | &nbsp;&nbsp; (28311699)<br>|
| NET ASSETS–100.00% | NET ASSETS–100.00% | NET ASSETS–100.00% | &nbsp;&nbsp; $696737705 |

---

Investment Abbreviations:

REIT – Real Estate Investment Trust

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

**2**

**Invesco Real Estate Fund**

------

Notes to Schedule of Investments:

<sup>(a)</sup> Property type classifications used in this report are generally according to FTSE National Association of Real Estate Investment Trusts ("NAREIT") Equity REITs Index, which is exclusively owned by NAREIT. 

<sup>(b)</sup> All or a portion of this security was out on loan at February 28, 2026.

<sup>(c)</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 fiscal year ended February 28, 2026. 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**February 28, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**February 28, 2026**<br>| **Dividend Income** |
| **Investments in Affiliated Money Market** <br> **Funds:**<br>|  |  |  |  |  |  |  |
| Invesco Government & Agency Portfolio, <br> Institutional Class<br>| $2503533 | &nbsp;&nbsp; $44208777 | &nbsp;&nbsp; $(45682241) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $1030069 | &nbsp;&nbsp; $56428 |
| Invesco Treasury Portfolio, Institutional Class | 4657305 | &nbsp;&nbsp; 82102015 | &nbsp;&nbsp; (84845370) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 1913950 | &nbsp;&nbsp; 103635 |
| **Investments Purchased with Cash Collateral** <br> **from Securities on Loan:**<br>|  |  |  |  |  |  |  |
| Invesco Private Government Fund | 6754113 | &nbsp;&nbsp; 209191941 | &nbsp;&nbsp; (208350464) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 7595590 | &nbsp;&nbsp; 332,590\* |
| Invesco Private Prime Fund | 17582725 | &nbsp;&nbsp; 422180139 | &nbsp;&nbsp; (420053836) | &nbsp;&nbsp; - | &nbsp;&nbsp; 1581 | &nbsp;&nbsp; 19710609 | &nbsp;&nbsp; 901,940\* |
| Total | $31497676 | &nbsp;&nbsp; $757682872 | &nbsp;&nbsp; $(758931911) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $1581 | &nbsp;&nbsp; $30250218 | &nbsp;&nbsp; $1394593 |

---

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

<sup>(d)</sup> The rate shown is the 7-day SEC standardized yield as of February 28, 2026.

<sup>(e)</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. See Note 1J. 

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

**3**

**Invesco Real Estate Fund**

------

**Statement of Assets and Liabilities**

*February 28, 2026*

---

| | |
|:---|:---|
| **Assets:** |  |
| Investments in unaffiliated securities, at value <br>(Cost $500,428,686)\*<br>| &nbsp;&nbsp; $694799186 |
| Investments in affiliated money market funds, at value <br> (Cost $30,250,218)<br>| &nbsp;&nbsp; 30250218 |
| Receivable for: |  |
| Investments sold | &nbsp;&nbsp; 2075304 |
| Fund shares sold | &nbsp;&nbsp; 231730 |
| Dividends | &nbsp;&nbsp; 542954 |
| Investment for trustee deferred compensation and <br> retirement plans<br>| &nbsp;&nbsp; 360363 |
| Other assets | &nbsp;&nbsp; 85802 |
| Total assets | &nbsp;&nbsp; 728345557 |
| **Liabilities:** |  |
| Payable for: |  |
| Investments purchased | &nbsp;&nbsp; 2142519 |
| Fund shares reacquired | &nbsp;&nbsp; 1275050 |
| Collateral upon return of securities loaned | &nbsp;&nbsp; 27306199 |
| Accrued fees to affiliates | &nbsp;&nbsp; 452611 |
| Accrued trustees' and officers' fees and benefits | &nbsp;&nbsp; 9131 |
| Accrued other operating expenses | &nbsp;&nbsp; 52766 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 369576 |
| Total liabilities | &nbsp;&nbsp; 31607852 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $696737705 |
| **Net assets consist of:** |  |
| Shares of beneficial interest | &nbsp;&nbsp; $509581137 |
| Distributable earnings | &nbsp;&nbsp; 187156568 |
|  | &nbsp;&nbsp; $696737705 |

---

---

| | |
|:---|:---|
| **Net Assets:** | **Net Assets:** |
| Class A | &nbsp;&nbsp; $440616556 |
| Class C | &nbsp;&nbsp; $11888818 |
| Class R | &nbsp;&nbsp; $69639392 |
| Class Y | &nbsp;&nbsp; $63151562 |
| Investor Class | &nbsp;&nbsp; $17601519 |
| Class R5 | &nbsp;&nbsp; $20842714 |
| Class R6 | &nbsp;&nbsp; $72997144 |
| **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** | **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** |
| Class A | &nbsp;&nbsp; 25287528 |
| Class C | &nbsp;&nbsp; 687560 |
| Class R | &nbsp;&nbsp; 3988130 |
| Class Y | &nbsp;&nbsp; 3628766 |
| Investor Class | &nbsp;&nbsp; 1014253 |
| Class R5 | &nbsp;&nbsp; 1198200 |
| Class R6 | &nbsp;&nbsp; 4196707 |
| Class A: |  |
| Net asset value per share | &nbsp;&nbsp; $17.42 |
| Maximum offering price per share <br>(Net asset value of $17.42 ÷ 94.50%)<br>| &nbsp;&nbsp; $18.43 |
| Class C: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $17.29 |
| Class R: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $17.46 |
| Class Y: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $17.40 |
| Investor Class: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $17.35 |
| Class R5: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $17.40 |
| Class R6: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $17.39 |

---

\* At February 28, 2026, securities with an aggregate value of $26,451,002 were on loan to brokers. 

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

**4**

**Invesco Real Estate Fund**

------

**Statement of Operations**

*For the year ended February 28, 2026* 

---

| | |
|:---|:---|
| **Investment income:** |  |
| Dividends (net of foreign withholding taxes of $(504)) | &nbsp;&nbsp; $21609358 |
| Dividends from affiliated money market funds (includes net securities lending income of $40,765) | &nbsp;&nbsp; 200828 |
| Total investment income | &nbsp;&nbsp; 21810186 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 5313632 |
| Administrative services fees | &nbsp;&nbsp; 97885 |
| Custodian fees | &nbsp;&nbsp; 7395 |
| Distribution fees: |  |
| Class A | &nbsp;&nbsp; 1088931 |
| Class C | &nbsp;&nbsp; 126019 |
| Class R | &nbsp;&nbsp; 338310 |
| Investor Class | &nbsp;&nbsp; 38313 |
| Transfer agent fees — A, C, R, Y and Investor | &nbsp;&nbsp; 1356597 |
| Transfer agent fees — R5 | &nbsp;&nbsp; 24706 |
| Transfer agent fees — R6 | &nbsp;&nbsp; 20374 |
| Trustees' and officers' fees and benefits | &nbsp;&nbsp; 27149 |
| Registration and filing fees | &nbsp;&nbsp; 109265 |
| Reports to shareholders | &nbsp;&nbsp; 1455497 |
| Professional services fees | &nbsp;&nbsp; 111051 |
| Other | &nbsp;&nbsp; 19686 |
| Total expenses | &nbsp;&nbsp; 10134810 |
| Less: Fees waived, expenses reimbursed and/or expense offset arrangement(s) | &nbsp;&nbsp; (45124)<br>|
| Net expenses | &nbsp;&nbsp; 10089686 |
| Net investment income | &nbsp;&nbsp; 11720500 |
| **Realized and unrealized gain (loss) from:** |  |
| Net realized gain from: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 25572554 |
| Affiliated investment securities | &nbsp;&nbsp; 1581 |
| Foreign currencies | &nbsp;&nbsp; 3 |
|  | &nbsp;&nbsp; 25574138 |
| Change in net unrealized appreciation (depreciation) of: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; (11649538)<br>|
| Foreign currencies | &nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp; (11649408)<br>|
| Net realized and unrealized gain | &nbsp;&nbsp; 13924730 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $25645230 |

---

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

**5**

**Invesco Real Estate Fund**

------

**Statement of Changes in Net Assets**

*For the years ended February 28, 2026 and 2025* 

---

| | | |
|:---|:---|:---|
|  | **2026** | **2025** |
| **Operations:** |  |  |
| Net investment income | &nbsp;&nbsp; $11720500 | &nbsp;&nbsp; $17655885 |
| Net realized gain | &nbsp;&nbsp; 25574138 | &nbsp;&nbsp; 31111617 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp; (11649408)<br>| &nbsp;&nbsp; 59091248 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 25645230 | &nbsp;&nbsp; 107858750 |
| **Distributions to shareholders from distributable earnings:** |  |  |
| Class A | &nbsp;&nbsp; (23819602)<br>| &nbsp;&nbsp; (21804007)<br>|
| Class C | &nbsp;&nbsp; (575525)<br>| &nbsp;&nbsp; (619486)<br>|
| Class R | &nbsp;&nbsp; (3519987)<br>| &nbsp;&nbsp; (3042415)<br>|
| Class Y | &nbsp;&nbsp; (3523790)<br>| &nbsp;&nbsp; (3868875)<br>|
| Investor Class | &nbsp;&nbsp; (936622)<br>| &nbsp;&nbsp; (939169)<br>|
| Class R5 | &nbsp;&nbsp; (1769991)<br>| &nbsp;&nbsp; (3988817)<br>|
| Class R6 | &nbsp;&nbsp; (4500725)<br>| &nbsp;&nbsp; (7564483)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (38646242)<br>| &nbsp;&nbsp; (41827252)<br>|
| **Return of capital:** |  |  |
| Class A | &nbsp;&nbsp; (767405)<br>| &nbsp;&nbsp; — |
| Class C | &nbsp;&nbsp; (12401)<br>| &nbsp;&nbsp; — |
| Class R | &nbsp;&nbsp; (99758)<br>| &nbsp;&nbsp; — |
| Class Y | &nbsp;&nbsp; (128158)<br>| &nbsp;&nbsp; — |
| Investor Class | &nbsp;&nbsp; (30568)<br>| &nbsp;&nbsp; — |
| Class R5 | &nbsp;&nbsp; (74235)<br>| &nbsp;&nbsp; — |
| Class R6 | &nbsp;&nbsp; (181475)<br>| &nbsp;&nbsp; — |
| Total return of capital | &nbsp;&nbsp; (1294000)<br>| &nbsp;&nbsp; — |
| Total distributions | &nbsp;&nbsp; (39940242)<br>| &nbsp;&nbsp; (41827252)<br>|
| **Share transactions–net:** |  |  |
| Class A | &nbsp;&nbsp; (48379199)<br>| &nbsp;&nbsp; (69795505)<br>|
| Class C | &nbsp;&nbsp; (2588072)<br>| &nbsp;&nbsp; (5371560)<br>|
| Class R | &nbsp;&nbsp; (3707401)<br>| &nbsp;&nbsp; (8895714)<br>|
| Class Y | &nbsp;&nbsp; (10871465)<br>| &nbsp;&nbsp; (28231463)<br>|
| Investor Class | &nbsp;&nbsp; (1248762)<br>| &nbsp;&nbsp; (3989837)<br>|
| Class R5 | &nbsp;&nbsp; (47557089)<br>| &nbsp;&nbsp; (52515548)<br>|
| Class R6 | &nbsp;&nbsp; (28529711)<br>| &nbsp;&nbsp; (98405358)<br>|
| Net increase (decrease) in net assets resulting from share transactions | &nbsp;&nbsp; (142881699)<br>| &nbsp;&nbsp; (267204985)<br>|
| Net increase (decrease) in net assets | &nbsp;&nbsp; (157176711)<br>| &nbsp;&nbsp; (201173487)<br>|
| **Net assets:** |  |  |
| Beginning of year | &nbsp;&nbsp; 853914416 | &nbsp;&nbsp; 1055087903 |
| End of year | &nbsp;&nbsp; $696737705 | &nbsp;&nbsp; $853914416 |

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

**6**

**Invesco Real Estate Fund**

------

**Financial Highlights**

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

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income** <br>**(loss)**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Return of** <br>**capital**<br>| **Total** <br>**distributions**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**(loss)** <br>**to average** <br>**net assets**<br>| **Portfolio** <br>**turnover** <sup>(c)</sup> <br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year ended 02/28/26 | $17.63 | $0.26 | $0.49 | $0.75 | $(0.26)<br>| $(0.67)<br>| $(0.03)<br>| $(0.96)<br>| $17.42 | 4.77<br> %<br>| $440617 | 1.46<br> %<br>| 1.47<br> %<br>| 1.58<br> %<br>| 63<br> %<br>|
| Year ended 02/28/25 | 16.51 | 0.30 | 1.56 | 1.86 | (0.39)<br>| (0.35)<br>|  | (0.74)<br>| 17.63 | 11.41 | 496149 | 1.27 | 1.28 | 1.71 | 63 |
| Year ended 02/29/24 | 16.96 | 0.36 | (0.26)<br>| 0.10 | (0.35)<br>| (0.20)<br>|  | (0.55)<br>| 16.51 | 0.71 | 531718 | 1.25 | 1.26 | 2.23 | 62 |
| Year ended 02/28/23 | 21.15 | 0.25 | (2.67)<br>| (2.42)<br>| (0.17)<br>| (1.60)<br>|  | (1.77)<br>| 16.96 | (11.57)<br>| 649570 | 1.24 | 1.24 | 1.30 | 42 |
| Year ended 02/28/22 | 18.67 | 0.10 | 3.73 | 3.83 | (0.21)<br>| (1.11)<br>| (0.03)<br>| (1.35)<br>| 21.15 | 20.12 | 834552 | 1.23 | 1.23 | 0.45 | 59 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year ended 02/28/26 | 17.50 | 0.14 | 0.48 | 0.62 | (0.14)<br>| (0.67)<br>| (0.02)<br>| (0.83)<br>| 17.29 | 3.99 | 11889 | 2.21 | 2.22 | 0.83 | 63 |
| Year ended 02/28/25 | 16.39 | 0.16 | 1.56 | 1.72 | (0.26)<br>| (0.35)<br>|  | (0.61)<br>| 17.50 | 10.58 | 14730 | 2.02 | 2.03 | 0.96 | 63 |
| Year ended 02/29/24 | 16.83 | 0.24 | (0.26)<br>| (0.02)<br>| (0.22)<br>| (0.20)<br>|  | (0.42)<br>| 16.39 | (0.02)<br>| 19047 | 2.00 | 2.01 | 1.48 | 62 |
| Year ended 02/28/23 | 20.99 | 0.11 | (2.66)<br>| (2.55)<br>| (0.01)<br>| (1.60)<br>|  | (1.61)<br>| 16.83 | (12.21)<br>| 24619 | 1.99 | 1.99 | 0.55 | 42 |
| Year ended 02/28/22 | 18.53 | (0.07)<br>| 3.71 | 3.64 | (0.04)<br>| (1.11)<br>| (0.03)<br>| (1.18)<br>| 20.99 | 19.25 | 37459 | 1.98 | 1.98 | (0.30)<br>| 59 |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year ended 02/28/26 | 17.67 | 0.22 | 0.49 | 0.71 | (0.23)<br>| (0.67)<br>| (0.02)<br>| (0.92)<br>| 17.46 | 4.50 | 69639 | 1.71 | 1.72 | 1.33 | 63 |
| Year ended 02/28/25 | 16.54 | 0.25 | 1.58 | 1.83 | (0.35)<br>| (0.35)<br>|  | (0.70)<br>| 17.67 | 11.18 | 74239 | 1.52 | 1.53 | 1.46 | 63 |
| Year ended 02/29/24 | 17.00 | 0.32 | (0.27)<br>| 0.05 | (0.31)<br>| (0.20)<br>|  | (0.51)<br>| 16.54 | 0.39 | 78002 | 1.50 | 1.51 | 1.98 | 62 |
| Year ended 02/28/23 | 21.18 | 0.21 | (2.67)<br>| (2.46)<br>| (0.12)<br>| (1.60)<br>|  | (1.72)<br>| 17.00 | (11.73)<br>| 92226 | 1.49 | 1.49 | 1.05 | 42 |
| Year ended 02/28/22 | 18.70 | 0.04 | 3.73 | 3.77 | (0.15)<br>| (1.11)<br>| (0.03)<br>| (1.29)<br>| 21.18 | 19.79 | 114999 | 1.48 | 1.48 | 0.20 | 59 |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| Year ended 02/28/26 | 17.61 | 0.30 | 0.49 | 0.79 | (0.30)<br>| (0.67)<br>| (0.03)<br>| (1.00)<br>| 17.40 | 5.05 | 63152 | 1.21 | 1.22 | 1.83 | 63 |
| Year ended 02/28/25 | 16.49 | 0.34 | 1.56 | 1.90 | (0.43)<br>| (0.35)<br>|  | (0.78)<br>| 17.61 | 11.71 | 75144 | 1.02 | 1.03 | 1.96 | 63 |
| Year ended 02/29/24 | 16.95 | 0.40 | (0.27)<br>| 0.13 | (0.39)<br>| (0.20)<br>|  | (0.59)<br>| 16.49 | 0.91 | 97481 | 1.00 | 1.01 | 2.48 | 62 |
| Year ended 02/28/23 | 21.14 | 0.31 | (2.68)<br>| (2.37)<br>| (0.22)<br>| (1.60)<br>|  | (1.82)<br>| 16.95 | (11.34)<br>| 214673 | 0.98 | 0.98 | 1.56 | 42 |
| Year ended 02/28/22 | 18.66 | 0.15 | 3.73 | 3.88 | (0.26)<br>| (1.11)<br>| (0.03)<br>| (1.40)<br>| 21.14 | 20.43 | 296638 | 0.98 | 0.98 | 0.70 | 59 |
| **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** |
| Year ended 02/28/26 | 17.57 | 0.27 | 0.48 | 0.75 | (0.27)<br>| (0.67)<br>| (0.03)<br>| (0.97)<br>| 17.35 | 4.78 <br><sup>(d)</sup><br>| 17602 | 1.43 <br><sup>(d)</sup><br>| 1.44 <br><sup>(d)</sup><br>| 1.61 <br><sup>(d)</sup><br>| 63 |
| Year ended 02/28/25 | 16.45 | 0.31 | 1.56 | 1.87 | (0.40)<br>| (0.35)<br>|  | (0.75)<br>| 17.57 | 11.49 <br><sup>(d)</sup><br>| 19099 | 1.20 <br><sup>(d)</sup><br>| 1.21 <br><sup>(d)</sup><br>| 1.78 <br><sup>(d)</sup><br>| 63 |
| Year ended 02/29/24 | 16.90 | 0.37 | (0.27)<br>| 0.10 | (0.35)<br>| (0.20)<br>|  | (0.55)<br>| 16.45 | 0.72 <br><sup>(d)</sup><br>| 21797 | 1.20 <br><sup>(d)</sup><br>| 1.21 <br><sup>(d)</sup><br>| 2.28 <br><sup>(d)</sup><br>| 62 |
| Year ended 02/28/23 | 21.08 | 0.25 | (2.66)<br>| (2.41)<br>| (0.17)<br>| (1.60)<br>|  | (1.77)<br>| 16.90 | (11.53)<br>| 26616 | 1.24 | 1.24 | 1.30 | 42 |
| Year ended 02/28/22 | 18.61 | 0.11 | 3.71 | 3.82 | (0.21)<br>| (1.11)<br>| (0.03)<br>| (1.35)<br>| 21.08 | 20.17 <br><sup>(d)</sup><br>| 33026 | 1.16 <br><sup>(d)</sup><br>| 1.16 <br><sup>(d)</sup><br>| 0.52 <br><sup>(d)</sup><br>| 59 |
| **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** |
| Year ended 02/28/26 | 17.61 | 0.33 | 0.49 | 0.82 | (0.32)<br>| (0.67)<br>| (0.04)<br>| (1.03)<br>| 17.40 | 5.19 | 20843 | 1.08 | 1.08 | 1.96 | 63 |
| Year ended 02/28/25 | 16.49 | 0.35 | 1.58 | 1.93 | (0.46)<br>| (0.35)<br>|  | (0.81)<br>| 17.61 | 11.85 | 71034 | 0.91 | 0.91 | 2.07 | 63 |
| Year ended 02/29/24 | 16.95 | 0.43 | (0.28)<br>| 0.15 | (0.41)<br>| (0.20)<br>|  | (0.61)<br>| 16.49 | 1.05 | 114645 | 0.87 | 0.87 | 2.61 | 62 |
| Year ended 02/28/23 | 21.14 | 0.33 | (2.68)<br>| (2.35)<br>| (0.24)<br>| (1.60)<br>|  | (1.84)<br>| 16.95 | (11.22)<br>| 198456 | 0.87 | 0.87 | 1.67 | 42 |
| Year ended 02/28/22 | 18.66 | 0.18 | 3.73 | 3.91 | (0.29)<br>| (1.11)<br>| (0.03)<br>| (1.43)<br>| 21.14 | 20.58 | 283546 | 0.86 | 0.86 | 0.82 | 59 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| Year ended 02/28/26 | 17.60 | 0.34 | 0.49 | 0.83 | (0.33)<br>| (0.67)<br>| (0.04)<br>| (1.04)<br>| 17.39 | 5.26 | 72997 | 1.03 | 1.03 | 2.01 | 63 |
| Year ended 02/28/25 | 16.49 | 0.37 | 1.56 | 1.93 | (0.47)<br>| (0.35)<br>|  | (0.82)<br>| 17.60 | 11.87 | 103519 | 0.84 | 0.84 | 2.14 | 63 |
| Year ended 02/29/24 | 16.95 | 0.44 | (0.28)<br>| 0.16 | (0.42)<br>| (0.20)<br>|  | (0.62)<br>| 16.49 | 1.12 | 192398 | 0.80 | 0.80 | 2.68 | 62 |
| Year ended 02/28/23 | 21.14 | 0.34 | (2.68)<br>| (2.34)<br>| (0.25)<br>| (1.60)<br>|  | (1.85)<br>| 16.95 | (11.16)<br>| 259893 | 0.81 | 0.81 | 1.73 | 42 |
| Year ended 02/28/22 | 18.66 | 0.20 | 3.72 | 3.92 | (0.30)<br>| (1.11)<br>| (0.03)<br>| (1.44)<br>| 21.14 | 20.67 | 341500 | 0.78 | 0.78 | 0.90 | 59 |

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

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

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

<sup>(d)</sup> The total return, ratios of expenses to average net assets and ratio of net investment income to average net assets reflect actual 12b-1 fees of 0.22%, 0.18%, 0.20% and 0.18% for the years ended February 28, 2026 and 2025, February 29, 2024 and February 28, 2022, respectively. 

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

**7**

**Invesco Real Estate Fund**

------

**Notes to Financial Statements**

*February 28, 2026*

**NOTE 1—Significant Accounting Policies**

Invesco Real Estate Fund (the "Fund") is a series portfolio of AIM Investment Securities Funds (Invesco Investment Securities Funds) (the "Trust"). The Trust is organized as a Delaware statutory trust and is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company authorized to issue an unlimited number of shares of beneficial interest. Information presented in these financial statements pertains only to the Fund. Matters affecting the Fund or each class will be voted on exclusively by the shareholders of the Fund or each class.

The Fund's investment objective is total return through growth of capital and current income.

The Fund currently consists of seven different classes of shares: Class A, Class C, Class R, Class Y, Investor Class, Class R5 and Class R6. Class Y shares are available only to certain investors. Class A shares are sold with a front-end sales charge unless certain waiver criteria are met. Under certain circumstances, load waived shares may be subject to contingent deferred sales charges ("CDSC"). Class C shares are sold with a CDSC. Class R, Class Y, Investor Class, Class R5 and Class R6 shares are sold at net asset value. Class C shares held for eight years after purchase are eligible for automatic conversion into Class A shares of the same Fund (the "Conversion Feature"). The automatic conversion pursuant to the Conversion Feature will generally occur at the end of the month following the eighth anniversary after a purchase of Class C shares.

Investor Class and Class R5 shares are closed to new investors.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

**8**

**Invesco Real Estate Fund**

------

investor sentiment generally and market liquidity. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

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

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

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

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

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

The Fund recharacterizes distributions received from REIT investments based on information provided by the REIT into the following categories: ordinary income, long-term and short-term capital gains, and return of capital. If information is not available on a timely basis from the REIT, the recharacterization will be based on available information which may include the previous year's allocation. If new or additional information becomes available from the REIT at a later date, a recharacterization will be made in the following year. The Fund records as dividend income the amount recharacterized as ordinary income and as realized gain the amount recharacterized as capital gain in the Statement of Operations, and the amount recharacterized as return of capital as a reduction of the cost of the related investment. These recharacterizations are reflected in the accompanying financial statements.

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

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

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

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions.

The Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual periods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid by jurisdiction, while removing certain disclosure requirements. The Fund did not pay any material income taxes, net of refunds during the period.

**F.** **Expenses** – Fees provided for under the Rule 12b-1 plan of a particular class of the Fund are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses attributable to Class R5 and Class R6 are allocated based on relative net assets of Class R5 and Class R6. Sub-accounting fees attributable to Class R5 are charged to the operations of the class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative net assets.

**G.** **Accounting Estimates** – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**H.** **Indemnifications** – Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**I.** **Segment Reporting** — The Fund represents a single operating segment, in accordance with ASC 280, Segment Reporting. Subject to the oversight and, when applicable, approval of the Board of Trustees, portfolio managers and senior executives at the Adviser act as the Fund's chief operating decision maker ("CODM"), assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements.

**J.** **Securities Lending** – The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by

**9**

**Invesco Real Estate Fund**

------

collateral equal to no less than the market value of the loaned securities determined daily by the securities lending provider. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its sponsored agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated, unregistered investment companies that comply with Rule 2a-7 under the 1940 Act and money market funds (collectively, "affiliated money market funds") and is shown as such on the Schedule of Investments. The Fund bears the risk of loss with respect to the investment of collateral. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. When loaning securities, the Fund retains certain benefits of owning the securities, including the economic equivalent of dividends or interest generated by the security. Lending securities entails a risk of loss to the Fund if, and to the extent that, the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower failed to return the securities. The securities loaned are subject to termination at the option of the borrower or the Fund. Upon termination, the borrower will return to the Fund the securities loaned and the Fund will return the collateral. Upon the failure of the borrower to return the securities, collateral may be liquidated and the securities may be purchased on the open market to replace the loaned securities. The Fund could experience delays and costs in gaining access to the collateral and the securities may lose value during the delay which could result in potential losses to the Fund. Some of these losses may be indemnified by the lending agent. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. Dividends received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, are included in *Dividends from affiliated money market funds* on the Statement of Operations. The aggregate value of securities out on loan, if any, is shown as a footnote on the Statement of Assets and Liabilities.

The Adviser serves as an affiliated securities lending agent for the Fund. The Bank of New York Mellon also serves as a securities lending agent. To the extent the Fund utilizes the Adviser as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services in a manner consistent with the federal securities laws. For the year ended February 28, 2026, the Fund paid the Adviser $1,993 in fees for securities lending agent services. Fees paid to the Adviser for securities lending agent services, if any, are included in *Dividends from affiliated money market funds* on the Statement of Operations.

**K.** **Foreign Currency Translations** — Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates.

The Fund may invest in foreign securities, which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Foreign taxes, if any, are recorded based on the tax regulations and rates that exist in the foreign markets in which the Fund invests and are shown in the Statement of Operations.

The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar. Currency rates in foreign countries may fluctuate for a number of reasons, including changes in interest rates, political, economic, or social instability and development, and imposition of currency controls. Currency controls in certain foreign jurisdictions may cause the Fund to experience significant delays in its ability to repatriate its assets in U.S. dollars at quoted spot rates, and it is possible that the Fund's ability to convert certain foreign currencies into U.S. dollars may be limited and may occur at discounts to quoted rates. As a result, the value of the Fund's assets and liabilities denominated in such currencies that would ultimately be realized could differ from those reported on the Statement of Assets and Liabilities. Certain foreign companies may be subject to sanctions, embargoes, or other governmental actions that may limit the ability to invest in, receive, hold, or sell the securities of such companies, all of which affect the market and/or credit risk of the investments. 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.

**L.** **Forward Foreign Currency Contracts** — The Fund may engage in foreign currency transactions either on a spot (i.e. for prompt delivery and settlement) basis, or through forward foreign currency contracts, to manage or minimize currency or exchange rate risk.

The Fund may also enter into forward foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security, or the Fund may also enter into forward foreign currency contracts that do not provide for physical exchange of the two currencies on the settlement date, but instead are settled by a single cash payment calculated as the difference between the agreed upon exchange rate and the spot rate at settlement based upon an agreed upon notional amount (non-deliverable forwards).

A forward foreign currency contract is an obligation between two parties ("Counterparties") to purchase or sell a specific currency for an agreed-upon price at a future date. The use of forward foreign currency contracts for hedging does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with forward foreign currency contracts include failure of the Counterparty to meet the terms of the contract and the value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities.

**M.** **Other Risks** - The Fund's investments are concentrated in a comparatively narrow segment of the economy. Consequently, the Fund may tend to be more volatile than other mutual funds, and the value of the Fund's investments may tend to rise and fall more rapidly.

Because the Fund concentrates its assets in the real estate industry, an investment in the Fund will be closely linked to the performance of the real estate markets. Property values may fall due to increasing vacancies or declining rents resulting from economic, legal, cultural or technological developments.

The Fund is non-diversified and may invest in securities of fewer issuers than if it were diversified. Thus, the value of the Fund's shares may vary more widely and the Fund may be subject to greater market and credit risk than if the Fund invested more broadly.

**10**

**Invesco Real Estate Fund**

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**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, the Fund accrues daily and pays monthly an advisory fee to the Adviser based on the annual rate of the Fund's average daily net assets as follows:

---

| | |
|:---|:---|
| **Average Daily Net Assets** | **Rate** |
| First $250 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.750% |
| Next $250 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.740% |
| Next $500 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.730% |
| Next $1.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.720% |
| Next $2.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.710% |
| Next $2.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.700% |
| Next $2.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.690% |
| Over $10 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.680% |

---

For the year ended February 28, 2026, the effective advisory fee rate incurred by the Fund was 0.74%.

Under the terms of a master sub-advisory agreement between the Adviser and each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Affiliated Sub-Adviser(s).

The Adviser has agreed, for an indefinite period, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Class A, Class C, Class R, Class Y, Investor Class, Class R5 and Class R6 shares to 2.00%, 2.75%, 2.25%, 1.75%, 2.00%, 1.75% and 1.75%, respectively, of the Fund's average daily net assets (the "boundary limits"). In determining the Adviser's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the total annual fund operating expenses after fee waiver and/or expense reimbursement to exceed the numbers reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses; and (5) expenses that the Fund has incurred but did not actually pay because of an expense offset arrangement. Invesco may amend and/or terminate these boundary limits at any time in its sole discretion and will inform the Board of Trustees of any such changes. The Adviser did not waive fees and/or reimburse expenses during the period under these boundary limits.

Further, the Adviser has contractually agreed, through at least August 31, 2027, to waive the advisory fee payable by the Fund in an amount equal to the advisory fees earned by the Adviser and/or its affiliates on underlying affiliated investments, including 100% of the net advisory fees the Adviser receives from any affiliated money market funds on investments by the Fund of uninvested cash (excluding investments of cash collateral from securities lending) in such affiliated money market funds.

For the year ended February 28, 2026, the Adviser waived advisory fees of $4,536.

The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the year ended February 28, 2026, expenses incurred under the agreement are shown in the Statement of Operations as *Administrative services fees*. Invesco has entered into a sub-administration agreement whereby State Street Bank and Trust Company ("SSB") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, SSB also serves as the Fund's custodian.

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") pursuant to which the Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to the Fund and reimburse IIS for certain expenses incurred by IIS in the course of providing such services. IIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. All fees payable by IIS to intermediaries that provide omnibus account services or sub-accounting services are charged back to the Fund, subject to certain limitations approved by the Trust's Board of Trustees. For the year ended February 28, 2026, expenses incurred under the agreement are shown in the Statement of Operations as *Transfer agent fees*.

The Trust has entered into master distribution agreements with Invesco Distributors, Inc. ("IDI") to serve as the distributor for the Class A, Class C, Class R, Class Y, Investor Class, Class R5 and Class R6 shares of the Fund. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Class A, Class C, Class R and Investor Class shares (collectively, the "Plans"). The Fund, pursuant to the Plans, reimburses IDI for its allocated share of expenses incurred for the period, up to a maximum annual rate of 0.25% of the average daily net assets of Class A shares and up to a maximum annual rate of 0.25% of the average daily net assets of Investor Class shares. The Fund pursuant to the Plans, pays IDI compensation at the annual rate of 1.00% of the average daily net assets of Class C shares and at the annual rate of 0.50% of the average daily net assets of Class R shares, respectively. The fees are accrued daily and paid monthly. Of the Plans payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such classes. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended February 28, 2026, expenses incurred under the Plans are shown in the Statement of Operations as *Distribution fees*.

Front-end sales commissions and CDSC (collectively, the "sales charges") are not recorded as expenses of the Fund. Front-end sales commissions are deducted from proceeds from the sales of Fund shares prior to investment in Class A shares of the Fund. CDSC are deducted from redemption proceeds prior to remittance to the shareholder. During the year ended February 28, 2026, IDI advised the Fund that IDI retained $30,837 in front-end sales commissions from the sale of Class A shares and $786 and $408 from Class A and Class C shares, respectively, for CDSC imposed upon redemptions by shareholders.

For the year ended February 28, 2026, the Fund incurred $37,142 in brokerage commissions with Invesco Capital Markets, Inc., an affiliate of the Adviser and IDI, for portfolio transactions executed on behalf of the Fund.

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

**NOTE 3—Additional Valuation Information**

GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment's assigned level:

Level 1 – Prices are determined using quoted prices in an active market for identical assets.

Level 2 – Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount

**11**

**Invesco Real Estate Fund**

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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 the Adviser's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

The following is a summary of the tiered valuation input levels, as of February 28, 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; $694799186 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $694799186 |
| Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp; 2944019 | &nbsp;&nbsp;&nbsp;&nbsp; 27306199 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 30250218 |
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $697743205 | &nbsp;&nbsp;&nbsp;&nbsp; $27306199 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $725049404 |

---

**NOTE 4—Expense Offset Arrangement(s)**

The expense offset arrangement is comprised of transfer agency credits which result from balances in demand deposit accounts used by the transfer agent for clearing shareholder transactions. For the year ended February 28, 2026, the Fund received credits from this arrangement, which resulted in the reduction of the Fund's total expenses of $40,588.

**NOTE 5—Trustees' and Officers' Fees and Benefits**

*Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to pay remuneration to certain Trustees and Officers of the Fund. Trustees have the option to defer compensation payable by the Fund, and *Trustees' and Officers' Fees and Benefits* also include amounts accrued by the Fund to fund such deferred compensation amounts. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested. The Fund may have certain former Trustees who participated in a retirement plan and receive benefits under such plan. *Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to fund such retirement benefits. Obligations under the deferred compensation and retirement plans represent unsecured claims against the general assets of the Fund.

**NOTE 6—Cash Balances**

The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with SSB, the custodian bank. Such balances, if any at period-end, are shown in the Statement of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate the custodian bank for such overdrafts, the overdrawn Fund may either (1) leave funds as a compensating balance in the account so the custodian bank can be compensated by earning the additional interest; or (2) compensate by paying the custodian bank at a rate agreed upon by the custodian bank and Invesco, not to exceed the contractually agreed upon rate.

**NOTE 7—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** |
|  | **2026** | **2025** |
| Ordinary income\* | &nbsp;&nbsp; $11805592 | &nbsp;&nbsp;&nbsp;&nbsp; $29219743 |
| Long-term capital gain | &nbsp;&nbsp; 26840650 | &nbsp;&nbsp;&nbsp;&nbsp; 12607509 |
| Return of capital | &nbsp;&nbsp; 1294000 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total distributions | &nbsp;&nbsp; $39940242 | &nbsp;&nbsp;&nbsp;&nbsp; $41827252 |

---

\* Includes short-term capital gain distributions, if any.

---

| | |
|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | **2026** |
| Net unrealized appreciation — investments | &nbsp;&nbsp;&nbsp;&nbsp; $187473164 |
| Net unrealized appreciation — foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp; 134 |
| Temporary book/tax differences | &nbsp;&nbsp;&nbsp;&nbsp; (206782)<br>|
| Late-Year ordinary loss deferral | &nbsp;&nbsp;&nbsp;&nbsp; (109948)<br>|
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp;&nbsp; 509581137 |
| Total net assets | &nbsp;&nbsp;&nbsp;&nbsp; $696737705 |

---

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is due to differences in the timing of recognition of gains and losses on investments for tax and book purposes. The Fund's net unrealized appreciation (depreciation) difference is attributable primarily to wash sales.

The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Fund's temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits.

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Fund to utilize. The ability to utilize capital loss carryforward in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Fund does not have a capital loss carryforward as of February 28, 2026.

**12**

**Invesco Real Estate Fund**

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**NOTE 8—Investment Transactions**

The aggregate amount of investment securities (other than short-term securities, U.S. Government obligations and money market funds, if any) purchased and sold by the Fund during the year ended February 28, 2026 was $457,352,968 and $618,940,879, respectively. As of February 28, 2026, the aggregate cost of investments, including any derivatives, on a tax basis listed below includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:

---

| | |
|:---|:---|
| **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** | **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** |
| Aggregate unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $197217368 |
| Aggregate unrealized (depreciation) of investments | &nbsp;&nbsp;&nbsp;&nbsp; (9744204)<br>|
| Net unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $187473164 |

---

Cost of investments for tax purposes is $537,576,240.

**NOTE 9—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of equalization and return of capital distributions, on February 28, 2026, undistributed net investment income was increased by $1,294,003, undistributed net realized gain (loss) was decreased by $2,638,312 and shares of beneficial interest was increased by $1,344,309. This reclassification had no effect on the net assets of the Fund.

**NOTE 10—Share Information** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended** <br>**February 28, 2026**<sup>(a)</sup>  | **Year ended** <br>**February 28, 2026**<sup>(a)</sup>  | **Year ended** <br>**February 28, 2025** | **Year ended** <br>**February 28, 2025** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 2012322 | &nbsp;&nbsp;&nbsp; $33552135 | &nbsp;&nbsp;&nbsp; 2051463 | &nbsp;&nbsp;&nbsp; $35298155 |
| Class C | &nbsp;&nbsp;&nbsp; 112862 | &nbsp;&nbsp;&nbsp; 1858136 | &nbsp;&nbsp;&nbsp; 217910 | &nbsp;&nbsp;&nbsp; 3838415 |
| Class R | &nbsp;&nbsp;&nbsp; 606109 | &nbsp;&nbsp;&nbsp; 10113700 | &nbsp;&nbsp;&nbsp; 685819 | &nbsp;&nbsp;&nbsp; 11754769 |
| Class Y | &nbsp;&nbsp;&nbsp; 599511 | &nbsp;&nbsp;&nbsp; 9957618 | &nbsp;&nbsp;&nbsp; 1075110 | &nbsp;&nbsp;&nbsp; 18221494 |
| Investor Class | &nbsp;&nbsp;&nbsp; 28362 | &nbsp;&nbsp;&nbsp; 467405 | &nbsp;&nbsp;&nbsp; 53827 | &nbsp;&nbsp;&nbsp; 900882 |
| Class R5 | &nbsp;&nbsp;&nbsp; 417341 | &nbsp;&nbsp;&nbsp; 6988546 | &nbsp;&nbsp;&nbsp; 759919 | &nbsp;&nbsp;&nbsp; 12949970 |
| Class R6 | &nbsp;&nbsp;&nbsp; 1412392 | &nbsp;&nbsp;&nbsp; 23566087 | &nbsp;&nbsp;&nbsp; 1740542 | &nbsp;&nbsp;&nbsp; 29586391 |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 1449399 | &nbsp;&nbsp;&nbsp; 23300211 | &nbsp;&nbsp;&nbsp; 1191494 | &nbsp;&nbsp;&nbsp; 20709292 |
| Class C | &nbsp;&nbsp;&nbsp; 36061 | &nbsp;&nbsp;&nbsp; 573816 | &nbsp;&nbsp;&nbsp; 34729 | &nbsp;&nbsp;&nbsp; 600293 |
| Class R | &nbsp;&nbsp;&nbsp; 224582 | &nbsp;&nbsp;&nbsp; 3614112 | &nbsp;&nbsp;&nbsp; 174337 | &nbsp;&nbsp;&nbsp; 3037599 |
| Class Y | &nbsp;&nbsp;&nbsp; 171196 | &nbsp;&nbsp;&nbsp; 2750485 | &nbsp;&nbsp;&nbsp; 176044 | &nbsp;&nbsp;&nbsp; 3052478 |
| Investor Class | &nbsp;&nbsp;&nbsp; 57555 | &nbsp;&nbsp;&nbsp; 921913 | &nbsp;&nbsp;&nbsp; 52246 | &nbsp;&nbsp;&nbsp; 902724 |
| Class R5 | &nbsp;&nbsp;&nbsp; 114278 | &nbsp;&nbsp;&nbsp; 1843080 | &nbsp;&nbsp;&nbsp; 231193 | &nbsp;&nbsp;&nbsp; 3988475 |
| Class R6 | &nbsp;&nbsp;&nbsp; 284705 | &nbsp;&nbsp;&nbsp; 4580855 | &nbsp;&nbsp;&nbsp; 431854 | &nbsp;&nbsp;&nbsp; 7473576 |
| **Automatic conversion of Class C shares to Class A shares:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 90001 | &nbsp;&nbsp;&nbsp; 1507612 | &nbsp;&nbsp;&nbsp; 142429 | &nbsp;&nbsp;&nbsp; 2433237 |
| Class C | &nbsp;&nbsp;&nbsp; (90647)<br>| &nbsp;&nbsp;&nbsp; (1507612)<br>| &nbsp;&nbsp;&nbsp; (143447)<br>| &nbsp;&nbsp;&nbsp; (2433237)<br>|
| **Reacquired:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; (6403813)<br>| &nbsp;&nbsp;&nbsp; (106739157)<br>| &nbsp;&nbsp;&nbsp; (7452256)<br>| &nbsp;&nbsp;&nbsp; (128236189)<br>|
| Class C | &nbsp;&nbsp;&nbsp; (212667)<br>| &nbsp;&nbsp;&nbsp; (3512412)<br>| &nbsp;&nbsp;&nbsp; (429713)<br>| &nbsp;&nbsp;&nbsp; (7377031)<br>|
| Class R | &nbsp;&nbsp;&nbsp; (1044576)<br>| &nbsp;&nbsp;&nbsp; (17435213)<br>| &nbsp;&nbsp;&nbsp; (1373340)<br>| &nbsp;&nbsp;&nbsp; (23688082)<br>|
| Class Y | &nbsp;&nbsp;&nbsp; (1408243)<br>| &nbsp;&nbsp;&nbsp; (23579568)<br>| &nbsp;&nbsp;&nbsp; (2895106)<br>| &nbsp;&nbsp;&nbsp; (49505435)<br>|
| Investor Class | &nbsp;&nbsp;&nbsp; (158727)<br>| &nbsp;&nbsp;&nbsp; (2638080)<br>| &nbsp;&nbsp;&nbsp; (344175)<br>| &nbsp;&nbsp;&nbsp; (5793443)<br>|
| Class R5 | &nbsp;&nbsp;&nbsp; (3367701)<br>| &nbsp;&nbsp;&nbsp; (56388715)<br>| &nbsp;&nbsp;&nbsp; (3908446)<br>| &nbsp;&nbsp;&nbsp; (69453993)<br>|
| Class R6 | &nbsp;&nbsp;&nbsp; (3380794)<br>| &nbsp;&nbsp;&nbsp; (56676653)<br>| &nbsp;&nbsp;&nbsp; (7961018)<br>| &nbsp;&nbsp;&nbsp; (135465325)<br>|
| Net increase (decrease) in share activity | &nbsp;&nbsp;&nbsp; (8450492)<br>| &nbsp;&nbsp;&nbsp; $(142881699)<br>| &nbsp;&nbsp;&nbsp; (15488585)<br>| &nbsp;&nbsp;&nbsp; $(267204985)<br>|

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 20% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**13**

**Invesco Real Estate Fund**

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Investment Securities Funds (Invesco Investment Securities Funds) and Shareholders of Invesco Real Estate Fund

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco Real Estate Fund (one of the funds constituting AIM Investment Securities Funds (Invesco Investment Securities Funds), referred to hereafter as the "Fund") as of February 28, 2026, the related statement of operations for the year ended February 28, 2026, the statement of changes in net assets for each of the two years in the period ended February 28, 2026, including the related notes, and the financial highlights for each of the five years in the period ended February 28, 2026 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 28, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended February 28, 2026 and the financial highlights for each of the five years in the period ended February 28, 2026 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026 by correspondence with the custodian, transfer agent and brokers. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

April 28, 2026

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**14**

**Invesco Real Estate Fund**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year–end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended February 28, 2026:

---

| | |
|:---|:---|
| **Federal and State Income Tax** |  |
| Long-Term Capital Gain Distributions | &nbsp;&nbsp; $28479293 |
| Qualified Dividend Income\* | &nbsp;&nbsp; 4.54% |
| Corporate Dividends Received Deduction\* | &nbsp;&nbsp; 0.00% |
| U.S. Treasury Obligations\* | &nbsp;&nbsp; 0.00% |
| Qualified Business Income\* | &nbsp;&nbsp; 95.46% |
| Business Interest Income\* | &nbsp;&nbsp; 0.00% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

**15**

**Invesco Real Estate Fund**

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

Not applicable.

**16**

**Invesco Real Estate Fund**

------

![](imga77a07171.jpg)

SEC file number(s): 811-05686 and 033-39519

Invesco Distributors, Inc.

REA-NCSR

------

![](img8ac06a9c1.jpg)

------

**Annual Financial Statements and Other Information**

**February 28, 2026**

**Invesco Short Duration Inflation Protected Fund**

Nasdaq:

A: LMTAX ■ A2: SHTIX ■ Y: LMTYX ■ R5: ALMIX ■ R6: SDPSX

------

---

| | |
|:---|:---|
| [2](#xx_e83e169b-2119-43f0-b181-aa129a0bdc49_SOI-Continued-119_1) | Schedule of Investments |
| [3](#xx_e83e169b-2119-43f0-b181-aa129a0bdc49_FS-Continued-119_1) | Financial Statements |
| [6](#xx_e83e169b-2119-43f0-b181-aa129a0bdc49_FS-Continued-119_4) | Financial Highlights |
| [7](#xx_e83e169b-2119-43f0-b181-aa129a0bdc49_NTF-Continued-119_1) | Notes to Financial Statements |
| [12](#xx_e83e169b-2119-43f0-b181-aa129a0bdc49_ARS-Continued-119_1) | Report of Independent Registered Public Accounting Firm |
| [13](#xx_e83e169b-2119-43f0-b181-aa129a0bdc49_TI-Continued-119_1) | Tax Information |
| [14](#xx_e83e169b-2119-43f0-b181-aa129a0bdc49_OIRSR-Continued-119_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments** 

*February 28, 2026* 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **U.S. Treasury Securities–99.71%** | **U.S. Treasury Securities–99.71%** | **U.S. Treasury Securities–99.71%** | **U.S. Treasury Securities–99.71%** |  |  |
| **U.S. Treasury Inflation — Indexed Bonds–13.69%**<sup>(a)</sup>  | **U.S. Treasury Inflation — Indexed Bonds–13.69%**<sup>(a)</sup>  | **U.S. Treasury Inflation — Indexed Bonds–13.69%**<sup>(a)</sup>  | **U.S. Treasury Inflation — Indexed Bonds–13.69%**<sup>(a)</sup>  | **U.S. Treasury Inflation — Indexed Bonds–13.69%**<sup>(a)</sup>  | **U.S. Treasury Inflation — Indexed Bonds–13.69%**<sup>(a)</sup>  |
| U.S. Treasury Inflation - Indexed Bonds | 1.75% | 01/15/2028 |  | $9828 | &nbsp;&nbsp; $9990171 |
| U.S. Treasury Inflation - Indexed Bonds | 3.63% | 04/15/2028 |  | 13665 | &nbsp;&nbsp; 14440486 |
| U.S. Treasury Inflation - Indexed Bonds | 2.50% | 01/15/2029 |  | 8684 | &nbsp;&nbsp; 9064123 |
| U.S. Treasury Inflation - Indexed Bonds | 3.87% | 04/15/2029 |  | 15551 | &nbsp;&nbsp; 16914058 |
|  |  |  |  |  | &nbsp;&nbsp; 50408838 |
| **U.S. Treasury Inflation — Indexed Notes–86.02%**<sup>(a)</sup>  | **U.S. Treasury Inflation — Indexed Notes–86.02%**<sup>(a)</sup>  | **U.S. Treasury Inflation — Indexed Notes–86.02%**<sup>(a)</sup>  | **U.S. Treasury Inflation — Indexed Notes–86.02%**<sup>(a)</sup>  | **U.S. Treasury Inflation — Indexed Notes–86.02%**<sup>(a)</sup>  | **U.S. Treasury Inflation — Indexed Notes–86.02%**<sup>(a)</sup>  |
| U.S. Treasury Inflation - Indexed Notes | 0.13% | 04/15/2027 |  | 18435 | &nbsp;&nbsp; 18284967 |
| U.S. Treasury Inflation - Indexed Notes | 0.38% | 07/15/2027 |  | 19804 | &nbsp;&nbsp; 19776154 |
| U.S. Treasury Inflation - Indexed Notes | 1.62% | 10/15/2027 |  | 17840 | &nbsp;&nbsp; 18132866 |
| U.S. Treasury Inflation - Indexed Notes | 0.50% | 01/15/2028 |  | 20651 | &nbsp;&nbsp; 20514411 |
| U.S. Treasury Inflation - Indexed Notes | 1.25% | 04/15/2028 |  | 17577 | &nbsp;&nbsp; 17689137 |
| U.S. Treasury Inflation - Indexed Notes | 0.75% | 07/15/2028 |  | 19140 | &nbsp;&nbsp; 19143843 |
| U.S. Treasury Inflation - Indexed Notes | 2.37% | 10/15/2028 |  | 18092 | &nbsp;&nbsp; 18829869 |
| U.S. Treasury Inflation - Indexed Notes | 0.88% | 01/15/2029 |  | 18931 | &nbsp;&nbsp; 18895562 |
| U.S. Treasury Inflation - Indexed Notes | 2.12% | 04/15/2029 |  | 18393 | &nbsp;&nbsp; 19016465 |
| U.S. Treasury Inflation - Indexed Notes | 0.25% | 07/15/2029 |  | 20546 | &nbsp;&nbsp; 20117334 |
| U.S. Treasury Inflation - Indexed Notes | 1.62% | 10/15/2029 |  | 19498 | &nbsp;&nbsp; 19973750 |
| U.S. Treasury Inflation - Indexed Notes | 0.13% | 01/15/2030 |  | 20968 | &nbsp;&nbsp; 20243202 |
| U.S. Treasury Inflation - Indexed Notes | 1.62% | 04/15/2030 |  | 21596 | &nbsp;&nbsp; 22052214 |
| U.S. Treasury Inflation - Indexed Notes | 0.13% | 07/15/2030 |  | 21944 | &nbsp;&nbsp; 21124084 |
| U.S. Treasury Inflation - Indexed Notes | 1.12% | 10/15/2030 |  | 22065 | &nbsp;&nbsp; 22134673 |
| U.S. Treasury Inflation - Indexed Notes | 0.13% | 01/15/2031 |  | 21805 | &nbsp;&nbsp; 20763012 |
|  |  |  |  |  | &nbsp;&nbsp; 316691543 |
| TOTAL INVESTMENTS IN SECURITIES–99.71% (Cost $359,950,095) | TOTAL INVESTMENTS IN SECURITIES–99.71% (Cost $359,950,095) | TOTAL INVESTMENTS IN SECURITIES–99.71% (Cost $359,950,095) | TOTAL INVESTMENTS IN SECURITIES–99.71% (Cost $359,950,095) |  | &nbsp;&nbsp; 367100381 |
| OTHER ASSETS LESS LIABILITIES–0.29% | OTHER ASSETS LESS LIABILITIES–0.29% | OTHER ASSETS LESS LIABILITIES–0.29% | OTHER ASSETS LESS LIABILITIES–0.29% |  | &nbsp;&nbsp; 1050455 |
| NET ASSETS–100.00% | NET ASSETS–100.00% | NET ASSETS–100.00% | NET ASSETS–100.00% |  | &nbsp;&nbsp; $368150836 |

---

Notes to Schedule of Investments:

<sup>(a)</sup> Principal amount of security and interest payments are adjusted for inflation. See Note 1I.

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 year ended February 28, 2026.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**February 28, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**February 28, 2026**<br>| **Dividend Income** |
| **Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| Invesco Government & Agency Portfolio, Institutional <br> Class<br>| $- | &nbsp;&nbsp; $14694433 | &nbsp;&nbsp; $(14694433) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $5197 |
| Invesco Treasury Portfolio, Institutional Class | - | &nbsp;&nbsp; 27289662 | &nbsp;&nbsp; (27289662) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 9550 |
| Total | $- | &nbsp;&nbsp; $41984095 | &nbsp;&nbsp; $(41984095) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $14747 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**2**

**Invesco Short Duration Inflation Protected Fund**

------

**Statement of Assets and Liabilities**

*February 28, 2026*

---

| | |
|:---|:---|
| **Assets:** |  |
| Investments in unaffiliated securities, at value <br>(Cost $359,950,095)<br>| &nbsp;&nbsp; $367100381 |
| Receivable for: |  |
| Investments sold | &nbsp;&nbsp; 303939 |
| Fund shares sold | &nbsp;&nbsp; 87743 |
| Dividends | &nbsp;&nbsp; 209 |
| Interest | &nbsp;&nbsp; 1392614 |
| Investment for trustee deferred compensation and <br> retirement plans<br>| &nbsp;&nbsp; 94279 |
| Other assets | &nbsp;&nbsp; 42915 |
| Total assets | &nbsp;&nbsp; 369022080 |
| **Liabilities:** |  |
| Payable for: |  |
| Fund shares reacquired | &nbsp;&nbsp; 322950 |
| Amount due to custodian | &nbsp;&nbsp; 296171 |
| Accrued fees to affiliates | &nbsp;&nbsp; 68372 |
| Accrued trustees' and officers' fees and benefits | &nbsp;&nbsp; 2590 |
| Accrued other operating expenses | &nbsp;&nbsp; 83788 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 97373 |
| Total liabilities | &nbsp;&nbsp; 871244 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $368150836 |
| **Net assets consist of:** |  |
| Shares of beneficial interest | &nbsp;&nbsp; $415429083 |
| Distributable earnings (loss) | &nbsp;&nbsp; (47278247)<br>|
|  | &nbsp;&nbsp; $368150836 |

---

---

| | |
|:---|:---|
| **Net Assets:** | **Net Assets:** |
| Class A | &nbsp;&nbsp; $94130929 |
| Class A2 | &nbsp;&nbsp; $9917309 |
| Class Y | &nbsp;&nbsp; $61346437 |
| Class R5 | &nbsp;&nbsp; $3703245 |
| Class R6 | &nbsp;&nbsp; $199052916 |
| **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** | **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** |
| Class A | &nbsp;&nbsp; 9313773 |
| Class A2 | &nbsp;&nbsp; 980239 |
| Class Y | &nbsp;&nbsp; 6060484 |
| Class R5 | &nbsp;&nbsp; 365923 |
| Class R6 | &nbsp;&nbsp; 19676717 |
| Class A: |  |
| Net asset value per share | &nbsp;&nbsp; $10.11 |
| Maximum offering price per share <br>(Net asset value of $10.11 ÷ 97.50%)<br>| &nbsp;&nbsp; $10.37 |
| Class A2: |  |
| Net asset value per share | &nbsp;&nbsp; $10.12 |
| Maximum offering price per share <br>(Net asset value of $10.12 ÷ 99.00%)<br>| &nbsp;&nbsp; $10.22 |
| Class Y: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $10.12 |
| Class R5: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $10.12 |
| Class R6: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $10.12 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**3**

**Invesco Short Duration Inflation Protected Fund**

------

**Statement of Operations**

*For the year ended February 28, 2026* 

---

| | |
|:---|:---|
| **Investment income:** |  |
| Treasury Inflation-Protected Securities inflation adjustments | &nbsp;&nbsp; $16155738 |
| Dividends from affiliated money market funds | &nbsp;&nbsp; 14747 |
| Total investment income | &nbsp;&nbsp; 16170485 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 770362 |
| Administrative services fees | &nbsp;&nbsp; 54640 |
| Custodian fees | &nbsp;&nbsp; 3930 |
| Distribution fees: |  |
| Class A | &nbsp;&nbsp; 249463 |
| Class A2 | &nbsp;&nbsp; 15267 |
| Transfer agent fees — A, A2, and Y | &nbsp;&nbsp; 216923 |
| Transfer agent fees — R5 | &nbsp;&nbsp; 1391 |
| Transfer agent fees — R6 | &nbsp;&nbsp; 64115 |
| Trustees' and officers' fees and benefits | &nbsp;&nbsp; 25459 |
| Registration and filing fees | &nbsp;&nbsp; 75642 |
| Licensing fees | &nbsp;&nbsp; 72619 |
| Reports to shareholders | &nbsp;&nbsp; 30770 |
| Professional services fees | &nbsp;&nbsp; 50945 |
| Other | &nbsp;&nbsp; 13147 |
| Total expenses | &nbsp;&nbsp; 1644673 |
| Less: Fees waived, expenses reimbursed and/or expense offset arrangement(s) | &nbsp;&nbsp; (224861)<br>|
| Net expenses | &nbsp;&nbsp; 1419812 |
| Net investment income | &nbsp;&nbsp; 14750673 |
| **Realized and unrealized gain from:** |  |
| Net realized gain from unaffiliated investment securities | &nbsp;&nbsp; 100231 |
| Change in net unrealized appreciation of unaffiliated investment securities | &nbsp;&nbsp; 3135977 |
| Net realized and unrealized gain | &nbsp;&nbsp; 3236208 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $17986881 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**4**

**Invesco Short Duration Inflation Protected Fund**

------

**Statement of Changes in Net Assets**

*For the years ended February 28, 2026 and 2025* 

---

| | | |
|:---|:---|:---|
|  | **2026** | **2025** |
| **Operations:** |  |  |
| Net investment income | &nbsp;&nbsp; $14750673 | &nbsp;&nbsp; $14786835 |
| Net realized gain (loss) | &nbsp;&nbsp; 100231 | &nbsp;&nbsp; (6880580)<br>|
| Change in net unrealized appreciation | &nbsp;&nbsp; 3135977 | &nbsp;&nbsp; 17241694 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 17986881 | &nbsp;&nbsp; 25147949 |
| **Distributions to shareholders from distributable earnings:** |  |  |
| Class A | &nbsp;&nbsp; (4060209)<br>| &nbsp;&nbsp; (2975658)<br>|
| Class A2 | &nbsp;&nbsp; (423133)<br>| &nbsp;&nbsp; (299125)<br>|
| Class Y | &nbsp;&nbsp; (2475988)<br>| &nbsp;&nbsp; (1111604)<br>|
| Class R5 | &nbsp;&nbsp; (152378)<br>| &nbsp;&nbsp; (267693)<br>|
| Class R6 | &nbsp;&nbsp; (9187118)<br>| &nbsp;&nbsp; (6764135)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (16298826)<br>| &nbsp;&nbsp; (11418215)<br>|
| **Share transactions–net:** |  |  |
| Class A | &nbsp;&nbsp; (9026303)<br>| &nbsp;&nbsp; (24992457)<br>|
| Class A2 | &nbsp;&nbsp; (426740)<br>| &nbsp;&nbsp; (1079018)<br>|
| Class Y | &nbsp;&nbsp; 21042570 | &nbsp;&nbsp; (1052840)<br>|
| Class R5 | &nbsp;&nbsp; (47853)<br>| &nbsp;&nbsp; (17383315)<br>|
| Class R6 | &nbsp;&nbsp; (22291828)<br>| &nbsp;&nbsp; (31497224)<br>|
| Net increase (decrease) in net assets resulting from share transactions | &nbsp;&nbsp; (10750154)<br>| &nbsp;&nbsp; (76004854)<br>|
| Net increase (decrease) in net assets | &nbsp;&nbsp; (9062099)<br>| &nbsp;&nbsp; (62275120)<br>|
| **Net assets:** |  |  |
| Beginning of year | &nbsp;&nbsp; 377212935 | &nbsp;&nbsp; 439488055 |
| End of year | &nbsp;&nbsp; $368150836 | &nbsp;&nbsp; $377212935 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**5**

**Invesco Short Duration Inflation Protected Fund**

------

**Financial Highlights**

The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Return of** <br>**capital**<br>| **Total** <br>**distributions**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**to average** <br>**net assets**<br>| **Portfolio** <br>**turnover** <sup>(c)</sup> <br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year ended 02/28/26 | $10.07 | $0.37 | $0.08 | $0.45 | $(0.41)<br>| $— | $(0.41)<br>| $10.11 | 4.58<br> %<br>| &nbsp;&nbsp; $94131 | 0.55<br> %<br>| 0.66<br> %<br>| 3.65<br> %<br>| 41<br> %<br>|
| Year ended 02/28/25 | 9.74 | 0.35 | 0.25 | 0.60 | (0.27)<br>|  | (0.27)<br>| 10.07 | 6.25 | &nbsp;&nbsp; 102740 | 0.55 | 0.66 | 3.53 | 46 |
| Year ended 02/29/24 | 9.67 | 0.31 | 0.05 | 0.36 | (0.27)<br>| (0.02)<br>| (0.29)<br>| 9.74 | 3.79 | &nbsp;&nbsp; 123910 | 0.55 | 0.68 | 3.22 | 36 |
| Year ended 02/28/23 | 10.87 | 0.50 | (0.99)<br>| (0.49)<br>| (0.64)<br>| (0.07)<br>| (0.71)<br>| 9.67 | (4.66)<br>| &nbsp;&nbsp; 185876 | 0.55 | 0.64 | 4.95 | 52 |
| Year ended 02/28/22 | 10.82 | 0.57 | (0.07)<br>| 0.50 | (0.45)<br>|  | (0.45)<br>| 10.87 | 4.65 | &nbsp;&nbsp; 126718 | 0.55 | 0.61 | 5.23 | 53 |
| **Class A2** | **Class A2** | **Class A2** | **Class A2** | **Class A2** | **Class A2** | **Class A2** | **Class A2** | **Class A2** | **Class A2** | **Class A2** | **Class A2** | **Class A2** | **Class A2** | **Class A2** |
| Year ended 02/28/26 | 10.08 | 0.38 | 0.08 | 0.46 | (0.42)<br>|  | (0.42)<br>| 10.12 | 4.69 | &nbsp;&nbsp; 9917 | 0.45 | 0.56 | 3.75 | 41 |
| Year ended 02/28/25 | 9.75 | 0.36 | 0.25 | 0.61 | (0.28)<br>|  | (0.28)<br>| 10.08 | 6.35 | &nbsp;&nbsp; 10301 | 0.45 | 0.56 | 3.63 | 46 |
| Year ended 02/29/24 | 9.68 | 0.32 | 0.05 | 0.37 | (0.28)<br>| (0.02)<br>| (0.30)<br>| 9.75 | 3.90 | &nbsp;&nbsp; 11023 | 0.45 | 0.58 | 3.32 | 36 |
| Year ended 02/28/23 | 10.88 | 0.51 | (0.99)<br>| (0.48)<br>| (0.65)<br>| (0.07)<br>| (0.72)<br>| 9.68 | (4.56)<br>| &nbsp;&nbsp; 11739 | 0.45 | 0.54 | 5.05 | 52 |
| Year ended 02/28/22 | 10.84 | 0.59 | (0.09)<br>| 0.50 | (0.46)<br>|  | (0.46)<br>| 10.88 | 4.66 | &nbsp;&nbsp; 13778 | 0.45 | 0.51 | 5.33 | 53 |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| Year ended 02/28/26 | 10.08 | 0.39 | 0.09 | 0.48 | (0.44)<br>|  | (0.44)<br>| 10.12 | 4.84 | &nbsp;&nbsp; 61346 | 0.30 | 0.41 | 3.90 | 41 |
| Year ended 02/28/25 | 9.75 | 0.37 | 0.26 | 0.63 | (0.30)<br>|  | (0.30)<br>| 10.08 | 6.51 | &nbsp;&nbsp; 40093 | 0.30 | 0.41 | 3.78 | 46 |
| Year ended 02/29/24 | 9.68 | 0.34 | 0.05 | 0.39 | (0.30)<br>| (0.02)<br>| (0.32)<br>| 9.75 | 4.05 | &nbsp;&nbsp; 39865 | 0.30 | 0.43 | 3.47 | 36 |
| Year ended 02/28/23 | 10.89 | 0.53 | (1.01)<br>| (0.48)<br>| (0.66)<br>| (0.07)<br>| (0.73)<br>| 9.68 | (4.49)<br>| &nbsp;&nbsp; 87930 | 0.30 | 0.39 | 5.20 | 52 |
| Year ended 02/28/22 | 10.84 | 0.60 | (0.07)<br>| 0.53 | (0.48)<br>|  | (0.48)<br>| 10.89 | 4.91 | &nbsp;&nbsp; 100465 | 0.30 | 0.36 | 5.48 | 53 |
| **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** |
| Year ended 02/28/26 | 10.08 | 0.40 | 0.08 | 0.48 | (0.44)<br>|  | (0.44)<br>| 10.12 | 4.84 | &nbsp;&nbsp; 3703 | 0.30 | 0.32 | 3.90 | 41 |
| Year ended 02/28/25 | 9.75 | 0.37 | 0.26 | 0.63 | (0.30)<br>|  | (0.30)<br>| 10.08 | 6.51 | &nbsp;&nbsp; 3734 | 0.30 | 0.37 | 3.78 | 46 |
| Year ended 02/29/24 | 9.68 | 0.34 | 0.05 | 0.39 | (0.30)<br>| (0.02)<br>| (0.32)<br>| 9.75 | 4.05 | &nbsp;&nbsp; 20557 | 0.30 | 0.36 | 3.47 | 36 |
| Year ended 02/28/23 | 10.88 | 0.53 | (1.00)<br>| (0.47)<br>| (0.66)<br>| (0.07)<br>| (0.73)<br>| 9.68 | (4.41)<br>| &nbsp;&nbsp; 33939 | 0.30 | 0.30 | 5.20 | 52 |
| Year ended 02/28/22 | 10.83 | 0.60 | (0.07)<br>| 0.53 | (0.48)<br>|  | (0.48)<br>| 10.88 | 4.91 | &nbsp;&nbsp; 28283 | 0.30 | 0.34 | 5.48 | 53 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| Year ended 02/28/26 | 10.08 | 0.40 | 0.08 | 0.48 | (0.44)<br>|  | (0.44)<br>| 10.12 | 4.84 | &nbsp;&nbsp; 199053 | 0.30 | 0.31 | 3.90 | 41 |
| Year ended 02/28/25 | 9.75 | 0.37 | 0.26 | 0.63 | (0.30)<br>|  | (0.30)<br>| 10.08 | 6.51 | &nbsp;&nbsp; 220345 | 0.30 | 0.32 | 3.78 | 46 |
| Year ended 02/29/24 | 9.68 | 0.34 | 0.05 | 0.39 | (0.30)<br>| (0.02)<br>| (0.32)<br>| 9.75 | 4.05 | &nbsp;&nbsp; 244133 | 0.30 | 0.34 | 3.47 | 36 |
| Year ended 02/28/23 | 10.88 | 0.53 | (1.00)<br>| (0.47)<br>| (0.66)<br>| (0.07)<br>| (0.73)<br>| 9.68 | (4.41)<br>| &nbsp;&nbsp; 295467 | 0.30 | 0.30 | 5.20 | 52 |
| Year ended 02/28/22 | 10.84 | 0.61 | (0.09)<br>| 0.52 | (0.48)<br>|  | (0.48)<br>| 10.88 | 4.84 | &nbsp;&nbsp; 322282 | 0.28 | 0.28 | 5.50 | 53 |

---

<sup>(a)</sup> Calculated using average shares outstanding.

<sup>(b)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one year, if applicable. 

<sup>(c)</sup> Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**6**

**Invesco Short Duration Inflation Protected Fund**

------

**Notes to Financial Statements**

*February 28, 2026*

**NOTE 1—Significant Accounting Policies**

Invesco Short Duration Inflation Protected Fund (the "Fund") is a series portfolio of AIM Investment Securities Funds (Invesco Investment Securities Funds) (the "Trust"). The Trust is organized as a Delaware statutory trust and is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company authorized to issue an unlimited number of shares of beneficial interest. Information presented in these financial statements pertains only to the Fund. Matters affecting the Fund or each class will be voted on exclusively by the shareholders of the Fund or each class.

The Fund's investment objective is to provide protection from the negative effects of unanticipated inflation.

The Fund currently consists of five different classes of shares: Class A, Class A2, Class Y, Class R5 and Class R6. Class Y shares are available only to certain investors. Class A and Class A2 shares are sold with a front-end sales charge unless certain waiver criteria are met. Under certain circumstances, load waived shares may be subject to contingent deferred sales charges ("CDSC"). Class Y, Class R5 and Class R6 shares are sold at net asset value.

Class A2 and Class R5 shares are closed to new investors.

The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies*.

The following is a summary of the significant accounting policies followed by the Fund in the preparation of its financial statements.

**A.** **Security Valuations** – Securities, including restricted securities, are valued according to the following policy.

Securities normally are valued on the basis of prices provided by independent pricing services. Prices provided by the pricing service may be determined without exclusive reliance on quoted prices and may reflect appropriate factors such as institution-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, individual trading characteristics and other market data. Pricing services generally value debt obligations assuming orderly transactions of institutional round lot size, but a fund may hold or transact in the same securities in smaller, odd lot sizes. Odd lots often trade at lower prices than institutional round lots, and their value may be adjusted accordingly. Debt securities are subject to interest rate and credit risks. In addition, all debt securities involve some risk of default with respect to interest and principal payments.

Securities for which market quotations are not readily available are fair valued by Invesco Advisers, Inc. (the "Adviser" or "Invesco") in accordance with Board-approved policies and related Adviser procedures ("Valuation Procedures"). If a fair value price provided by a pricing service is not representative of market value in the Adviser's judgment ("unreliable"), the Adviser will fair value the security using the Valuation Procedures. Some of the factors which may be considered in determining fair value are fundamental analytical data relating to the investment; the nature and duration of any restrictions on transferability or disposition; trading in similar securities by the same issuer or comparable companies; relevant political, economic or issuer specific news; and other relevant factors under the circumstances.

The Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer's assets, general market conditions which are not specifically related to the particular issuer, such as real or perceived adverse economic conditions, changes in the general outlook for revenues or corporate earnings, changes in interest or currency rates, regional or global instability, natural or environmental disasters, widespread disease or other public health issues, war, military conflicts, acts of terrorism, economic crises, economic sanctions and tariffs, significant governmental actions or adverse investor sentiment generally and market liquidity. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

The price the Fund could receive upon the sale of any investment may differ from the Adviser's valuation of the investment, particularly for securities that are valued using a fair valuation technique. When fair valuation techniques are applied, the Adviser uses available information, including both observable and unobservable inputs and assumptions, to determine a methodology that will result in a valuation that the Adviser believes approximates market value. Fund securities that are fair valued may be subject to greater fluctuation in their value from one day to the next than would be the case if market quotations were used. Because of the inherent uncertainties of valuation, and the degree of subjectivity in such decisions, the Fund could realize a greater or lesser than expected gain or loss upon the sale of the investment.

**B.** **Securities Transactions and Investment Income** – Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on an accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Pay-in-kind interest income and non-cash dividend income received in the form of securities in lieu of cash are recorded at the fair value of the securities received. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date.

The Fund may periodically participate in litigation related to Fund investments. As such, the Fund may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.

Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the investment adviser.

The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class.

**C.** **Distributions** - Distributions from net investment income, if any, are declared and paid quarterly and are recorded on the ex-dividend date. Distributions from net realized capital gain, if any, are generally declared and paid annually and recorded on the ex-dividend date. The Fund may elect to treat a portion of the proceeds from redemptions as distributions for federal income tax purposes.

**D.** **Federal Income Taxes –** The Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Fund's taxable earnings to shareholders. As such, the Fund will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions.

The Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

**7**

**Invesco Short Duration Inflation Protected Fund**

------

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual periods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid by jurisdiction, while removing certain disclosure requirements. The Fund did not pay any material income taxes, net of refunds during the period.

**E.** **Expenses** – Fees provided for under the Rule 12b-1 plan of a particular class of the Fund are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses attributable to Class R5 and Class R6 are allocated based on relative net assets of Class R5 and Class R6. Sub-accounting fees attributable to Class R5 are charged to the operations of the class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative net assets.

**F.** **Accounting Estimates** – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**G.** **Indemnifications** – Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**H.** **Segment Reporting** — The Fund represents a single operating segment, in accordance with ASC 280, Segment Reporting. Subject to the oversight and, when applicable, approval of the Board of Trustees, portfolio managers and senior executives at the Adviser act as the Fund's chief operating decision maker ("CODM"), assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements.

**I.** **Treasury Inflation-Protected Securities** — The Fund may invest in Treasury Inflation-Protected Securities ("TIPS"). TIPS are fixed income securities whose principal value is periodically adjusted to the rate of inflation. The principal value of TIPS will be adjusted upward or downward, and any increase or decrease in the principal amount of TIPS will be shown as *Treasury Inflation-Protected Securities inflation adjustments* in the Statement of Operations, even though investors do not receive their principal until maturity.

**J.** **Other Risks** - Fluctuations in the federal funds and equivalent foreign rates or other changes to monetary policy or regulatory actions may expose fixed income markets to heightened volatility, perhaps suddenly and to a significant degree, and to reduced liquidity for certain fixed income investments, particularly those with longer maturities. Such changes and resulting increased volatility may adversely impact the Fund, including its operations, universe of potential investment options, and return potential. It is difficult to predict the impact of interest rate changes on various markets. In addition, decreases in fixed income dealer market-making capacity may also potentially lead to heightened volatility and reduced liquidity in the fixed income markets. As a result, the value of the Fund's investments and share price may decline. Changes in central bank policies and other governmental actions and political events within the U.S. and abroad may also, among other things, affect investor and consumer expectations and confidence in the financial markets. This could result in higher than normal redemptions by shareholders, which could potentially increase the Fund's portfolio turnover rate and transaction costs.

Obligations of U.S. Government agencies and authorities receive varying levels of support and may not be backed by the full faith and credit of the U.S. Government, which could affect the Fund's ability to recover should they default. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so.

**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, the Fund accrues daily and pays monthly an advisory fee to the Adviser based on the annual rate of the Fund's average daily net assets as follows:

---

| | |
|:---|:---|
| **Average Daily Net Assets** | **Rate** |
| First $500 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.200% |
| Over $500 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.175% |

---

For the year ended February 28, 2026, the effective advisory fee rate incurred by the Fund was 0.20%.

Under the terms of a master sub-advisory agreement between the Adviser and each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Affiliated Sub-Adviser(s).

The Adviser has contractually agreed, through June 30, 2026, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Class A, Class A2, Class Y, Class R5 and Class R6 shares to 0.55%, 0.45%, 0.30%, 0.30% and 0.30%, respectively, of the Fund's average daily net assets (the "expense limits"). Effective July 1, 2026, the Adviser has contractually agreed, through at least June 30, 2027, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Class A, Class A2, Class Y, Class R5 and Class R6 shares to 0.60%, 0.50%, 0.35%, 0.31% and 0.26%, respectively, of the Fund's average daily net assets. In determining the Adviser's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the total annual fund operating expenses after fee waiver and/or expense reimbursement to exceed the numbers reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses; and (5) expenses that the Fund has incurred but did not actually pay because of an expense offset arrangement. Unless Invesco continues the fee waiver agreement, it will terminate on June 30, 2027. During its term, the fee waiver agreement cannot be terminated or amended to increase the expense limits or reduce the advisory fee waivers without approval of the Board of Trustees.

Further, the Adviser has contractually agreed, through at least August 31, 2027, to waive the advisory fee payable by the Fund in an amount equal to the advisory fees earned by the Adviser and/or its affiliates on underlying affiliated investments, including 100% of the net advisory fees the Adviser receives from any affiliated money market funds on investments by the Fund of uninvested cash in such affiliated money market funds.

For the year ended February 28, 2026, the Adviser waived advisory fees of $461 and reimbursed class level expenses of $111,347, $11,357, $65,260, $852 and $32,002 of Class A, Class A2, Class Y, Class R5 and Class R6 shares, respectively.

The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the year ended February 28, 2026, expenses incurred under the agreement are shown in the Statement of Operations as *Administrative services fees*. Invesco has entered into a sub-administration agreement whereby State Street Bank and Trust Company

**8**

**Invesco Short Duration Inflation Protected Fund**

------

("SSB") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, SSB also serves as the Fund's custodian.

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") pursuant to which the Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to the Fund and reimburse IIS for certain expenses incurred by IIS in the course of providing such services. IIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. All fees payable by IIS to intermediaries that provide omnibus account services or sub-accounting services are charged back to the Fund, subject to certain limitations approved by the Trust's Board of Trustees. For the year ended February 28, 2026, expenses incurred under the agreement are shown in the Statement of Operations as *Transfer agent fees*.

The Trust has entered into master distribution agreements with Invesco Distributors, Inc. ("IDI") to serve as the distributor for the Class A, Class A2, Class Y, Class R5 and Class R6 shares of the Fund. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Class A and Class A2 shares (collectively, the "Plans"). The Fund, pursuant to the Plans, pays IDI compensation at the annual rate of 0.25% of the average daily net assets of Class A shares and 0.15% of the Fund's average daily net assets of Class A2 shares. The fees are accrued daily and paid monthly. Of the Plans payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such classes. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") also impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended February 28, 2026, expenses incurred under the Plans are shown in the Statement of Operations as *Distribution fees*.

Front-end sales commissions and CDSC (collectively, the "sales charges") are not recorded as expenses of the Fund. Front-end sales commissions are deducted from proceeds from the sales of Fund shares prior to investment in Class A and Class A2 shares of the Fund. CDSC are deducted from redemption proceeds prior to remittance to the shareholder. During the year ended February 28, 2026, IDI advised the Fund that IDI retained $4,617 and $121 in front-end sales commissions from the sale of Class A and Class A2 shares, respectively, and $6,484 and $0 from Class A and Class A2 shares, respectively, for CDSC was imposed upon redemptions by shareholders.

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

**NOTE 3—Additional Valuation Information**

GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment's assigned level:

Level 1 — Prices are determined using quoted prices in an active market for identical assets.

Level 2 — Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. 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 the Adviser's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

As of February 28, 2026, all of the securities in this Fund were valued based on Level 2 inputs (see the Schedule of Investments for security categories). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

**NOTE 4—Expense Offset Arrangement(s)**

The expense offset arrangement is comprised of transfer agency credits which result from balances in demand deposit accounts used by the transfer agent for clearing shareholder transactions. For the year ended February 28, 2026, the Fund received credits from this arrangement, which resulted in the reduction of the Fund's total expenses of $3,582.

**NOTE 5—Trustees' and Officers' Fees and Benefits**

*Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to pay remuneration to certain Trustees and Officers of the Fund. Trustees have the option to defer compensation payable by the Fund, and *Trustees' and Officers' Fees and Benefits* also include amounts accrued by the Fund to fund such deferred compensation amounts. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested. The Fund may have certain former Trustees who participated in a retirement plan and receive benefits under such plan. *Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to fund such retirement benefits. Obligations under the deferred compensation and retirement plans represent unsecured claims against the general assets of the Fund.

**NOTE 6—Cash Balances**

The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with SSB, the custodian bank. Such balances, if any at period-end, are shown in the Statement of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate the custodian bank for such overdrafts, the overdrawn Fund may either (1) leave funds as a compensating balance in the account so the custodian bank can be compensated by earning the additional interest; or (2) compensate by paying the custodian bank at a rate agreed upon by the custodian bank and Invesco, not to exceed the contractually agreed upon rate.

**NOTE 7—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** |
|  | **2026** | **2025** |
| Ordinary income\* | &nbsp;&nbsp; $16298826 | &nbsp;&nbsp;&nbsp;&nbsp; $11418215 |

---

\* Includes short-term capital gain distributions, if any.

**9**

**Invesco Short Duration Inflation Protected Fund**

------

---

| | |
|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | **2026** |
| Undistributed ordinary income | &nbsp;&nbsp;&nbsp;&nbsp; $1565901 |
| Net unrealized appreciation — investments | &nbsp;&nbsp;&nbsp;&nbsp; 5310712 |
| Temporary book/tax differences | &nbsp;&nbsp;&nbsp;&nbsp; (52524)<br>|
| Capital loss carryforward | &nbsp;&nbsp;&nbsp;&nbsp; (54102336)<br>|
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp;&nbsp; 415429083 |
| Total net assets | &nbsp;&nbsp;&nbsp;&nbsp; $368150836 |

---

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is due to differences in the timing of recognition of gains and losses on investments for tax and book purposes. The Fund's net unrealized appreciation (depreciation) difference is attributable primarily to wash sales.

The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Fund's temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits.

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Fund to utilize. The ability to utilize capital loss carryforward in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Fund has a capital loss carryforward as of February 28, 2026, as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** |
| **Expiration** | **Short-Term** | **Long-Term** | **Total** |
| Not subject to expiration | &nbsp;&nbsp;&nbsp;&nbsp; $6804267 | &nbsp;&nbsp;&nbsp;&nbsp; $47298069 | &nbsp;&nbsp;&nbsp;&nbsp; $54102336 |

---

\*

Capital loss carryforward is reduced for limitations, if any, to the extent required by the Internal Revenue Code and may be further limited depending upon a variety of factors, including the realization of net unrealized gains or losses as of the date of any reorganization.

**NOTE 8—Investment Transactions**

The aggregate amount of long-term U.S. government obligations (other than short-term securities and money market funds, if any) purchased and sold by the Fund during the year ended February 28, 2026 was $158,605,484 and $182,340,621, respectively. As of February 28, 2026, the aggregate cost of investments, including any derivatives, on a tax basis listed below includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:

---

| | |
|:---|:---|
| **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** | **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** |
| Aggregate unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $5310712 |
| Aggregate unrealized (depreciation) of investments | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Net unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $5310712 |

---

Cost of investments for tax purposes is $361,789,669.

**NOTE 9—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of TIPS, on February 28, 2026, undistributed net investment income was increased by $834 and undistributed net realized gain (loss) was decreased by $834. This reclassification had no effect on the net assets or the distributable earnings (loss) of the Fund.

**NOTE 10—Share Information** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended** <br>**February 28, 2026**<sup>(a)</sup>  | **Year ended** <br>**February 28, 2026**<sup>(a)</sup>  | **Year ended** <br>**February 28, 2025** | **Year ended** <br>**February 28, 2025** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 1644490 | &nbsp;&nbsp;&nbsp; $16638784 | &nbsp;&nbsp;&nbsp; 1449409 | &nbsp;&nbsp;&nbsp; $14301604 |
| Class A2 | &nbsp;&nbsp;&nbsp; 9050 | &nbsp;&nbsp;&nbsp; 91895 | &nbsp;&nbsp;&nbsp; 5827 | &nbsp;&nbsp;&nbsp; 57730 |
| Class Y | &nbsp;&nbsp;&nbsp; 4058973 | &nbsp;&nbsp;&nbsp; 41102981 | &nbsp;&nbsp;&nbsp; 2008722 | &nbsp;&nbsp;&nbsp; 19952124 |
| Class R5 | &nbsp;&nbsp;&nbsp; 66718 | &nbsp;&nbsp;&nbsp; 675897 | &nbsp;&nbsp;&nbsp; 70611 | &nbsp;&nbsp;&nbsp; 697974 |
| Class R6 | &nbsp;&nbsp;&nbsp; 1413180 | &nbsp;&nbsp;&nbsp; 14293360 | &nbsp;&nbsp;&nbsp; 4154223 | &nbsp;&nbsp;&nbsp; 41524341 |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 333084 | &nbsp;&nbsp;&nbsp; 3351487 | &nbsp;&nbsp;&nbsp; 247229 | &nbsp;&nbsp;&nbsp; 2440840 |
| Class A2 | &nbsp;&nbsp;&nbsp; 37077 | &nbsp;&nbsp;&nbsp; 373457 | &nbsp;&nbsp;&nbsp; 26878 | &nbsp;&nbsp;&nbsp; 265681 |
| Class Y | &nbsp;&nbsp;&nbsp; 197275 | &nbsp;&nbsp;&nbsp; 1987404 | &nbsp;&nbsp;&nbsp; 82600 | &nbsp;&nbsp;&nbsp; 816247 |
| Class R5 | &nbsp;&nbsp;&nbsp; 7891 | &nbsp;&nbsp;&nbsp; 79465 | &nbsp;&nbsp;&nbsp; 9231 | &nbsp;&nbsp;&nbsp; 90937 |
| Class R6 | &nbsp;&nbsp;&nbsp; 907081 | &nbsp;&nbsp;&nbsp; 9137775 | &nbsp;&nbsp;&nbsp; 681127 | &nbsp;&nbsp;&nbsp; 6729040 |

---

**10**

**Invesco Short Duration Inflation Protected Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended**<br> **February 28, 2026**<sup>(a)</sup> | **Year ended**<br> **February 28, 2026**<sup>(a)</sup> | **Year ended**<br> **February 28, 2025** | **Year ended**<br> **February 28, 2025** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Reacquired:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; (2868205)<br>| &nbsp;&nbsp;&nbsp; $(29016574)<br>| &nbsp;&nbsp;&nbsp; (4219138)<br>| &nbsp;&nbsp;&nbsp; $(41734901)<br>|
| Class A2 | &nbsp;&nbsp;&nbsp; (87962)<br>| &nbsp;&nbsp;&nbsp; (892092)<br>| &nbsp;&nbsp;&nbsp; (141631)<br>| &nbsp;&nbsp;&nbsp; (1402429)<br>|
| Class Y | &nbsp;&nbsp;&nbsp; (2171890)<br>| &nbsp;&nbsp;&nbsp; (22047815)<br>| &nbsp;&nbsp;&nbsp; (2203242)<br>| &nbsp;&nbsp;&nbsp; (21821211)<br>|
| Class R5 | &nbsp;&nbsp;&nbsp; (79025)<br>| &nbsp;&nbsp;&nbsp; (803215)<br>| &nbsp;&nbsp;&nbsp; (1819000)<br>| &nbsp;&nbsp;&nbsp; (18172226)<br>|
| Class R6 | &nbsp;&nbsp;&nbsp; (4508627)<br>| &nbsp;&nbsp;&nbsp; (45722963)<br>| &nbsp;&nbsp;&nbsp; (8022165)<br>| &nbsp;&nbsp;&nbsp; (79750605)<br>|
| Net increase (decrease) in share activity | &nbsp;&nbsp;&nbsp; (1040890)<br>| &nbsp;&nbsp;&nbsp; $(10750154)<br>| &nbsp;&nbsp;&nbsp; (7669319)<br>| &nbsp;&nbsp;&nbsp; $(76004854)<br>|

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 72% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**11**

**Invesco Short Duration Inflation Protected Fund**

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Investment Securities Funds (Invesco Investment Securities Funds) and Shareholders of Invesco Short Duration Inflation Protected Fund

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco Short Duration Inflation Protected Fund (one of the funds constituting AIM Investment Securities Funds (Invesco Investment Securities Funds), referred to hereafter as the "Fund") as of February 28, 2026, the related statement of operations for the year ended February 28, 2026, the statement of changes in net assets for each of the two years in the period ended February 28, 2026, including the related notes, and the financial highlights for each of the five years in the period ended February 28, 2026 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 28, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended February 28, 2026 and the financial highlights for each of the five years in the period ended February 28, 2026 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026 by correspondence with the custodian. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

April 28, 2026

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**12**

**Invesco Short Duration Inflation Protected Fund**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year–end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended February 28, 2026:

---

| | |
|:---|:---|
| **Federal and State Income Tax** |  |
| Qualified Dividend Income\* | &nbsp;&nbsp; 0.00% |
| Corporate Dividends Received Deduction\* | &nbsp;&nbsp; 0.00% |
| U.S. Treasury Obligations\* | &nbsp;&nbsp; 100.00% |
| Qualified Business Income\* | &nbsp;&nbsp; 0.00% |
| Business Interest Income\* | &nbsp;&nbsp; 99.93% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

**13**

**Invesco Short Duration Inflation Protected Fund**

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

Not applicable.

**14**

**Invesco Short Duration Inflation Protected Fund**

------

![](img8ac06a9c1.jpg)

SEC file number(s): 811-05686 and 033-39519

Invesco Distributors, Inc.

SDIP-NCSR

------

![](imgbb9e2e6d1.jpg)

------

**Annual Financial Statements and Other Information**

**February 28, 2026**

**Invesco Short Term Bond Fund**

Nasdaq:

A: STBAX ■ C: STBCX ■ R: STBRX ■ Y: STBYX ■ R5: ISTBX ■ R6: ISTFX

------

---

| | |
|:---|:---|
| [2](#xx_47978b54-3336-4871-8935-d1293222d114_SOI-Continued-120_1) | Schedule of Investments |
| [21](#xx_47978b54-3336-4871-8935-d1293222d114_FS-Continued-120_1) | Financial Statements |
| [24](#xx_47978b54-3336-4871-8935-d1293222d114_FS-Continued-120_4) | Financial Highlights |
| [25](#xx_47978b54-3336-4871-8935-d1293222d114_NTF-Continued-120_1) | Notes to Financial Statements |
| [33](#xx_47978b54-3336-4871-8935-d1293222d114_ARS-Continued-120_1) | Report of Independent Registered Public Accounting Firm |
| [34](#xx_47978b54-3336-4871-8935-d1293222d114_TI-Continued-120_1) | Tax Information |
| [35](#xx_47978b54-3336-4871-8935-d1293222d114_OIRSR-Continued-120_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments**<sup>(a)</sup> 

*February 28, 2026*

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **U.S. Dollar Denominated Bonds & Notes–64.09%** | **U.S. Dollar Denominated Bonds & Notes–64.09%** | **U.S. Dollar Denominated Bonds & Notes–64.09%** | **U.S. Dollar Denominated Bonds & Notes–64.09%** |
| **Advertising–0.05%** | **Advertising–0.05%** | **Advertising–0.05%** | **Advertising–0.05%** |
| Omnicom Group, Inc., 4.20%, <br> 03/02/2029<br>|  | $1019000 | &nbsp;&nbsp; $1021410 |
| **Aerospace & Defense–0.93%** | **Aerospace & Defense–0.93%** | **Aerospace & Defense–0.93%** | **Aerospace & Defense–0.93%** |
| Boeing Co. (The), | Boeing Co. (The), |  |  |
| 6.26%, 05/01/2027 |  | 519000 | &nbsp;&nbsp; 531790 |
| 6.30%, 05/01/2029 |  | 753000 | &nbsp;&nbsp; 802588 |
| Howmet Aerospace, Inc., | Howmet Aerospace, Inc., |  |  |
| 3.75%, 03/03/2028 |  | 1691000 | &nbsp;&nbsp; 1689361 |
| 3.90%, 04/15/2029 |  | 526000 | &nbsp;&nbsp; 526607 |
| L3Harris Technologies, Inc., 5.40%, <br> 01/15/2027<br>|  | 2491000 | &nbsp;&nbsp; 2524431 |
| Lockheed Martin Corp., 4.15%, <br> 08/15/2028<br>|  | 1342000 | &nbsp;&nbsp; 1355998 |
| RTX Corp., | RTX Corp., |  |  |
| 5.75%, 11/08/2026 |  | 2936000 | &nbsp;&nbsp; 2969656 |
| 5.75%, 01/15/2029 |  | 788000 | &nbsp;&nbsp; 828566 |
| TransDigm, Inc., | TransDigm, Inc., |  |  |
| 6.75%, 08/15/2028<sup>(b)</sup> <br>|  | 874000 | &nbsp;&nbsp; 890654 |
| 6.38%, 03/01/2029<sup>(b)</sup> <br>|  | 7364000 | &nbsp;&nbsp; 7573366 |
|  |  |  | &nbsp;&nbsp; 19693017 |
| **Agricultural & Farm Machinery–0.24%** | **Agricultural & Farm Machinery–0.24%** | **Agricultural & Farm Machinery–0.24%** | **Agricultural & Farm Machinery–0.24%** |
| AGCO Corp., 5.45%, 03/21/2027 |  | 918000 | &nbsp;&nbsp; 929705 |
| CNH Industrial Capital LLC, 4.75%, <br> 03/21/2028<br>|  | 519000 | &nbsp;&nbsp; 526135 |
| Imperial Brands Finance PLC (United <br> Kingdom), 4.50%, <br> 06/30/2028<sup>(b)</sup> <br>|  | 2512000 | &nbsp;&nbsp; 2539654 |
| John Deere Capital Corp., | John Deere Capital Corp., |  |  |
| 5.15%, 09/08/2026 |  | 697000 | &nbsp;&nbsp; 702125 |
| 4.90%, 03/03/2028 |  | 320000 | &nbsp;&nbsp; 327970 |
|  |  |  | &nbsp;&nbsp; 5025589 |
| **Apparel Retail–0.06%** | **Apparel Retail–0.06%** | **Apparel Retail–0.06%** | **Apparel Retail–0.06%** |
| Gap, Inc. (The), 3.63%, <br> 10/01/2029<sup>(b)</sup> <br>|  | 1272000 | &nbsp;&nbsp; 1211085 |
| **Apparel, Accessories & Luxury Goods–0.01%** | **Apparel, Accessories & Luxury Goods–0.01%** | **Apparel, Accessories & Luxury Goods–0.01%** | **Apparel, Accessories & Luxury Goods–0.01%** |
| Gildan Activewear, Inc. (Canada), <br> 4.70%, 10/07/2030<sup>(b)</sup> <br>|  | 307000 | &nbsp;&nbsp; 309052 |
| **Application Software–0.13%** | **Application Software–0.13%** | **Application Software–0.13%** | **Application Software–0.13%** |
| Constellation Software, Inc. <br> (Canada), 5.16%, <br> 02/16/2029<sup>(b)(c)</sup> <br>|  | 620000 | &nbsp;&nbsp; 630283 |
| Open Text Corp. (Canada), 6.90%, <br> 12/01/2027<sup>(b)</sup> <br>|  | 232000 | &nbsp;&nbsp; 238437 |
| Roper Technologies, Inc., | Roper Technologies, Inc., |  |  |
| 4.25%, 09/15/2028 |  | 689000 | &nbsp;&nbsp; 692231 |
| 4.45%, 09/15/2030 |  | 345000 | &nbsp;&nbsp; 347136 |
| SS&C Technologies, Inc., 5.50%, <br> 09/30/2027<sup>(b)</sup> <br>|  | 737000 | &nbsp;&nbsp; 736455 |
|  |  |  | &nbsp;&nbsp; 2644542 |
| **Asset Management & Custody Banks–0.88%** | **Asset Management & Custody Banks–0.88%** | **Asset Management & Custody Banks–0.88%** | **Asset Management & Custody Banks–0.88%** |
| Ares Strategic Income Fund, 4.85%, <br> 01/15/2029<sup>(b)</sup> <br>|  | 7013000 | &nbsp;&nbsp; 6905701 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Asset Management & Custody Banks–(continued)** | **Asset Management & Custody Banks–(continued)** | **Asset Management & Custody Banks–(continued)** | **Asset Management & Custody Banks–(continued)** |
| Bank of New York Mellon Corp. (The), | Bank of New York Mellon Corp. (The), |  |  |
| 4.39% (SOFR + 0.68%), <br> 06/09/2028<sup>(d)</sup> <br>|  | $2518000 | &nbsp;&nbsp; $2526159 |
| 4.44%, 06/09/2028<sup>(e)</sup> <br>|  | 1399000 | &nbsp;&nbsp; 1409574 |
| 4.03%, 01/22/2030<sup>(e)</sup> <br>|  | 7077000 | &nbsp;&nbsp; 7089855 |
| Citadel L.P., 6.00%, <br> 01/23/2030<sup>(b)</sup> <br>|  | 177000 | &nbsp;&nbsp; 185110 |
| Northern Trust Corp., 4.15%, <br> 11/19/2030<br>|  | 354000 | &nbsp;&nbsp; 357283 |
|  |  |  | &nbsp;&nbsp; 18473682 |
| **Automobile Manufacturers–3.12%** | **Automobile Manufacturers–3.12%** | **Automobile Manufacturers–3.12%** | **Automobile Manufacturers–3.12%** |
| Allison Transmission, Inc., 4.75%, <br> 10/01/2027<sup>(b)</sup> <br>|  | 5450000 | &nbsp;&nbsp; 5458362 |
| American Honda Finance Corp., <br> 4.15%, 01/08/2029<br>|  | 2572000 | &nbsp;&nbsp; 2586734 |
| Daimler Truck Finance North <br> America LLC (Germany), | Daimler Truck Finance North <br> America LLC (Germany), |  |  |
| 4.30%, 08/12/2027<sup>(b)(c)</sup> <br>|  | 1853000 | &nbsp;&nbsp; 1864811 |
| 4.95%, 01/13/2028<sup>(b)</sup> <br>|  | 794000 | &nbsp;&nbsp; 807894 |
| 4.15%, 01/12/2029<sup>(b)(c)</sup> <br>|  | 2859000 | &nbsp;&nbsp; 2867670 |
| Ford Motor Credit Co. LLC, | Ford Motor Credit Co. LLC, |  |  |
| 6.66% (SOFR + 2.95%), <br> 03/06/2026<sup>(c)(d)</sup> <br>|  | 2177000 | &nbsp;&nbsp; 2177557 |
| 5.85%, 05/17/2027 |  | 4461000 | &nbsp;&nbsp; 4535164 |
| 5.92%, 03/20/2028 |  | 1671000 | &nbsp;&nbsp; 1716543 |
| 6.80%, 11/07/2028 |  | 1798000 | &nbsp;&nbsp; 1895600 |
| 4.97%, 04/06/2029 |  | 1746000 | &nbsp;&nbsp; 1757629 |
| Honda Motor Co. Ltd. (Japan), <br> 4.69%, 07/08/2030<br>|  | 2879000 | &nbsp;&nbsp; 2935502 |
| Hyundai Capital America, | Hyundai Capital America, |  |  |
| 5.30%, 03/19/2027<sup>(b)</sup> <br>|  | 1788000 | &nbsp;&nbsp; 1812981 |
| 4.88%, 06/23/2027<sup>(b)</sup> <br>|  | 3473000 | &nbsp;&nbsp; 3515935 |
| 5.00%, 01/07/2028<sup>(b)</sup> <br>|  | 4380000 | &nbsp;&nbsp; 4457177 |
| 5.60%, 03/30/2028<sup>(b)</sup> <br>|  | 480000 | &nbsp;&nbsp; 494256 |
| 4.25%, 09/18/2028<sup>(b)</sup> <br>|  | 1304000 | &nbsp;&nbsp; 1310543 |
| 4.25%, 01/08/2029<sup>(b)</sup> <br>|  | 3665000 | &nbsp;&nbsp; 3686832 |
| 5.30%, 01/08/2030<sup>(b)</sup> <br>|  | 1007000 | &nbsp;&nbsp; 1048054 |
| 4.50%, 09/18/2030<sup>(b)(c)</sup> <br>|  | 1313000 | &nbsp;&nbsp; 1325943 |
| Hyundai Capital Services, Inc. (South <br> Korea), 5.25%, 01/22/2028<sup>(b)</sup> <br>|  | 2243000 | &nbsp;&nbsp; 2293300 |
| PACCAR Financial Corp., | PACCAR Financial Corp., |  |  |
| 4.25%, 06/23/2027 |  | 5268000 | &nbsp;&nbsp; 5313394 |
| Series R, 3.90%, 02/05/2029<sup>(c)</sup> <br>|  | 2589000 | &nbsp;&nbsp; 2608458 |
| Toyota Motor Credit Corp., 4.55%, <br> 08/07/2026<br>|  | 3340000 | &nbsp;&nbsp; 3350429 |
| Volkswagen Group of America <br> Finance LLC (Germany), | Volkswagen Group of America <br> Finance LLC (Germany), |  |  |
| 5.40%, 03/20/2026<sup>(b)</sup> <br>|  | 3747000 | &nbsp;&nbsp; 3749645 |
| 4.90%, 08/14/2026<sup>(b)</sup> <br>|  | 2154000 | &nbsp;&nbsp; 2161304 |
|  |  |  | &nbsp;&nbsp; 65731717 |
| **Automotive Parts & Equipment–0.49%** | **Automotive Parts & Equipment–0.49%** | **Automotive Parts & Equipment–0.49%** | **Automotive Parts & Equipment–0.49%** |
| BMW US Capital LLC (Germany), | BMW US Capital LLC (Germany), |  |  |
| 4.15%, 08/11/2027<sup>(b)(c)</sup> <br>|  | 2521000 | &nbsp;&nbsp; 2533104 |
| 4.42% (SOFR + 0.71%), <br> 08/11/2027<sup>(b)(d)</sup> <br>|  | 6945000 | &nbsp;&nbsp; 6969316 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**2**

**Invesco Short Term Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Automotive Parts & Equipment–(continued)** | **Automotive Parts & Equipment–(continued)** | **Automotive Parts & Equipment–(continued)** | **Automotive Parts & Equipment–(continued)** |
| Clarios Global L.P./Clarios US <br> Finance Co., 6.75%, <br> 02/15/2030<sup>(b)</sup> <br>|  | $373000 | &nbsp;&nbsp; $390889 |
| ERAC USA Finance LLC, 5.00%, <br> 02/15/2029<sup>(b)(c)</sup> <br>|  | 508000 | &nbsp;&nbsp; 523283 |
|  |  |  | &nbsp;&nbsp; 10416592 |
| **Automotive Retail–0.56%** | **Automotive Retail–0.56%** | **Automotive Retail–0.56%** | **Automotive Retail–0.56%** |
| Lithia Motors, Inc., | Lithia Motors, Inc., |  |  |
| 4.63%, 12/15/2027<sup>(b)</sup> <br>|  | 6000000 | &nbsp;&nbsp; 6006644 |
| 5.50%, 10/01/2030<sup>(b)</sup> <br>|  | 3874000 | &nbsp;&nbsp; 3900866 |
| O'Reilly Automotive, Inc., 5.75%, <br> 11/20/2026<br>|  | 1857000 | &nbsp;&nbsp; 1879158 |
|  |  |  | &nbsp;&nbsp; 11786668 |
| **Biotechnology–0.09%** | **Biotechnology–0.09%** | **Biotechnology–0.09%** | **Biotechnology–0.09%** |
| AbbVie, Inc., 4.80%, 03/15/2027 |  | 1826000 | &nbsp;&nbsp; 1843434 |
| **Building Products–0.08%** | **Building Products–0.08%** | **Building Products–0.08%** | **Building Products–0.08%** |
| CRH America Finance, Inc., 4.40%, <br> 02/09/2031<br>|  | 870000 | &nbsp;&nbsp; 876821 |
| Lennox International, Inc., 5.50%, <br> 09/15/2028<br>|  | 882000 | &nbsp;&nbsp; 913083 |
|  |  |  | &nbsp;&nbsp; 1789904 |
| **Cargo Ground Transportation–0.54%** | **Cargo Ground Transportation–0.54%** | **Cargo Ground Transportation–0.54%** | **Cargo Ground Transportation–0.54%** |
| Fedex Freight Holding Co., Inc., | Fedex Freight Holding Co., Inc., |  |  |
| 4.30%, 03/15/2029<sup>(b)</sup> <br>|  | 1668000 | &nbsp;&nbsp; 1672083 |
| 4.65%, 03/15/2031<sup>(b)</sup> <br>|  | 810000 | &nbsp;&nbsp; 814756 |
| Penske Truck Leasing Co. L.P./PTL <br> Finance Corp., | Penske Truck Leasing Co. L.P./PTL <br> Finance Corp., |  |  |
| 5.75%, 05/24/2026<sup>(b)</sup> <br>|  | 1005000 | &nbsp;&nbsp; 1007405 |
| 5.35%, 01/12/2027<sup>(b)</sup> <br>|  | 635000 | &nbsp;&nbsp; 641510 |
| 6.05%, 08/01/2028<sup>(b)</sup> <br>|  | 675000 | &nbsp;&nbsp; 703980 |
| 5.25%, 02/01/2030<sup>(b)</sup> <br>|  | 3866000 | &nbsp;&nbsp; 4005342 |
| 4.55%, 01/15/2031<sup>(b)</sup> <br>|  | 532000 | &nbsp;&nbsp; 535518 |
| Ryder System, Inc., | Ryder System, Inc., |  |  |
| 5.30%, 03/15/2027 |  | 1493000 | &nbsp;&nbsp; 1513033 |
| 4.90%, 12/01/2029 |  | 483000 | &nbsp;&nbsp; 496483 |
|  |  |  | &nbsp;&nbsp; 11390110 |
| **Commercial & Residential Mortgage Finance–0.36%** | **Commercial & Residential Mortgage Finance–0.36%** | **Commercial & Residential Mortgage Finance–0.36%** | **Commercial & Residential Mortgage Finance–0.36%** |
| Aviation Capital Group LLC, 4.25%, <br> 04/30/2029<sup>(b)</sup> <br>|  | 483000 | &nbsp;&nbsp; 483135 |
| Nationwide Building Society (United <br> Kingdom), | Nationwide Building Society (United <br> Kingdom), |  |  |
| 6.56%, 10/18/2027<sup>(b)(e)</sup> <br>|  | 1990000 | &nbsp;&nbsp; 2021704 |
| 4.35%, 09/30/2030<sup>(b)</sup> <br>|  | 3802000 | &nbsp;&nbsp; 3831714 |
| Rocket Cos., Inc., 6.13%, <br> 08/01/2030<sup>(b)</sup> <br>|  | 1310000 | &nbsp;&nbsp; 1344740 |
|  |  |  | &nbsp;&nbsp; 7681293 |
| **Computer & Electronics Retail–0.32%** | **Computer & Electronics Retail–0.32%** | **Computer & Electronics Retail–0.32%** | **Computer & Electronics Retail–0.32%** |
| Dell International LLC/EMC Corp., <br> 4.15%, 02/15/2029<br>|  | 3309000 | &nbsp;&nbsp; 3321373 |
| Leidos, Inc., 4.10%, 03/15/2029 |  | 3455000 | &nbsp;&nbsp; 3464387 |
|  |  |  | &nbsp;&nbsp; 6785760 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Construction Machinery & Heavy Transportation Equipment–**<br> **1.65%** | **Construction Machinery & Heavy Transportation Equipment–**<br> **1.65%** | **Construction Machinery & Heavy Transportation Equipment–**<br> **1.65%** | **Construction Machinery & Heavy Transportation Equipment–**<br> **1.65%** |
| Caterpillar Financial Services Corp., | Caterpillar Financial Services Corp., |  |  |
| 4.50%, 01/07/2027 |  | $1847000 | &nbsp;&nbsp; $1859679 |
| 4.09% (SOFR + 0.40%), <br> 01/10/2028<sup>(c)(d)</sup> <br>|  | 3565000 | &nbsp;&nbsp; 3571158 |
| 3.95%, 11/14/2028 |  | 2443000 | &nbsp;&nbsp; 2456959 |
| 4.29% (SOFR + 0.58%), <br> 11/14/2028<sup>(d)</sup> <br>|  | 3128000 | &nbsp;&nbsp; 3143807 |
| 3.75%, 02/23/2029 |  | 7868000 | &nbsp;&nbsp; 7874156 |
| 4.20% (SOFR + 0.49%), <br> 02/23/2029<sup>(d)</sup> <br>|  | 11226000 | &nbsp;&nbsp; 11267714 |
| Cummins, Inc., 4.25%, <br> 05/09/2028<br>|  | 1404000 | &nbsp;&nbsp; 1418769 |
| Komatsu Finance America, Inc., <br> 5.50%, 10/06/2027<sup>(b)(c)</sup> <br>|  | 2357000 | &nbsp;&nbsp; 2414671 |
| Westinghouse Air Brake Technologies <br> Corp., 4.90%, 05/29/2030<br>|  | 688000 | &nbsp;&nbsp; 708903 |
|  |  |  | &nbsp;&nbsp; 34715816 |
| **Construction Materials–0.09%** | **Construction Materials–0.09%** | **Construction Materials–0.09%** | **Construction Materials–0.09%** |
| JH North America Holdings, Inc., <br> 5.88%, 01/31/2031<sup>(b)</sup> <br>|  | 1818000 | &nbsp;&nbsp; 1857736 |
| **Consumer Electronics–0.81%** | **Consumer Electronics–0.81%** | **Consumer Electronics–0.81%** | **Consumer Electronics–0.81%** |
| LG Electronics, Inc. (South Korea), | LG Electronics, Inc. (South Korea), |  |  |
| 5.63%, 04/24/2027<sup>(b)</sup> <br>|  | 14770000 | &nbsp;&nbsp; 15046990 |
| 5.63%, 04/24/2029<sup>(b)</sup> <br>|  | 1284000 | &nbsp;&nbsp; 1340550 |
| Tyco Electronics Group S.A. <br> (Switzerland), 4.50%, <br> 02/09/2031<br>|  | 666000 | &nbsp;&nbsp; 677965 |
|  |  |  | &nbsp;&nbsp; 17065505 |
| **Consumer Finance–0.93%** | **Consumer Finance–0.93%** | **Consumer Finance–0.93%** | **Consumer Finance–0.93%** |
| American Express Co., | American Express Co., |  |  |
| 5.65%, 04/23/2027<sup>(e)</sup> <br>|  | 1913000 | &nbsp;&nbsp; 1917273 |
| 4.73%, 04/25/2029<sup>(e)</sup> <br>|  | 3970000 | &nbsp;&nbsp; 4036161 |
| 4.96% (SOFR + 1.26%), <br> 04/25/2029<sup>(c)(d)</sup> <br>|  | 1118000 | &nbsp;&nbsp; 1131847 |
| 4.35%, 07/20/2029<sup>(e)</sup> <br>|  | 2376000 | &nbsp;&nbsp; 2398632 |
| 4.51% (SOFR + 0.81%), <br> 07/20/2029<sup>(d)</sup> <br>|  | 3544000 | &nbsp;&nbsp; 3551318 |
| Capital One Financial Corp., 7.15%, <br> 10/29/2027<sup>(e)</sup> <br>|  | 979000 | &nbsp;&nbsp; 998507 |
| General Motors Financial Co., Inc., | General Motors Financial Co., Inc., |  |  |
| 5.40%, 04/06/2026 |  | 232000 | &nbsp;&nbsp; 232255 |
| 4.20%, 10/27/2028 |  | 2515000 | &nbsp;&nbsp; 2525272 |
| OneMain Finance Corp., 6.50%, <br> 03/15/2033<sup>(c)</sup> <br>|  | 1190000 | &nbsp;&nbsp; 1180308 |
| SLM Corp., 6.50%, 01/31/2030<sup>(c)</sup> <br>|  | 1302000 | &nbsp;&nbsp; 1323175 |
| Synchrony Financial, 5.02%, <br> 07/29/2029<sup>(c)(e)</sup> <br>|  | 258000 | &nbsp;&nbsp; 261381 |
|  |  |  | &nbsp;&nbsp; 19556129 |
| **Consumer Staples Merchandise Retail–0.15%** | **Consumer Staples Merchandise Retail–0.15%** | **Consumer Staples Merchandise Retail–0.15%** | **Consumer Staples Merchandise Retail–0.15%** |
| Walmart, Inc., 4.10%, 04/28/2027 |  | 3195000 | &nbsp;&nbsp; 3217143 |
| **Data Processing & Outsourced Services–0.55%** | **Data Processing & Outsourced Services–0.55%** | **Data Processing & Outsourced Services–0.55%** | **Data Processing & Outsourced Services–0.55%** |
| QTS Thunder Managing Issuer LLC, <br> 5.67%, 12/10/2030<br>|  | 11545000 | &nbsp;&nbsp; 11527477 |
| **Distillers & Vintners–0.00%** | **Distillers & Vintners–0.00%** | **Distillers & Vintners–0.00%** | **Distillers & Vintners–0.00%** |
| Constellation Brands, Inc., 4.80%, <br> 05/01/2030<br>|  | 79000 | &nbsp;&nbsp; 81028 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**3**

**Invesco Short Term Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Distributors–0.12%** | **Distributors–0.12%** | **Distributors–0.12%** | **Distributors–0.12%** |
| Genuine Parts Co., | Genuine Parts Co., |  |  |
| 6.50%, 11/01/2028 |  | $1111000 | &nbsp;&nbsp; $1167160 |
| 4.95%, 08/15/2029 |  | 1392000 | &nbsp;&nbsp; 1410570 |
|  |  |  | &nbsp;&nbsp; 2577730 |
| **Diversified Banks–15.29%** | **Diversified Banks–15.29%** | **Diversified Banks–15.29%** | **Diversified Banks–15.29%** |
| ANZ New Zealand (Int'l) Ltd. (New <br> Zealand), 4.00%, <br> 01/22/2029<sup>(b)</sup> <br>|  | 4112000 | &nbsp;&nbsp; 4136831 |
| ASB Bank Ltd. (New Zealand), <br> 4.16%, 10/29/2030<sup>(b)</sup> <br>|  | 1860000 | &nbsp;&nbsp; 1876560 |
| Australia and New Zealand Banking <br> Group Ltd. (Australia), Series A, <br> 3.92%, 12/08/2028<br>|  | 8463000 | &nbsp;&nbsp; 8507519 |
| Banco Bilbao Vizcaya Argentaria S.A. <br> (Spain), | Banco Bilbao Vizcaya Argentaria S.A. <br> (Spain), |  |  |
| 4.15%, 03/03/2029 |  | 5600000 | &nbsp;&nbsp; 5602239 |
| 4.58% (SOFR + 0.88%), <br> 03/03/2029<sup>(d)</sup> <br>|  | 7600000 | &nbsp;&nbsp; 7606345 |
| Banco Santander S.A. (Spain), <br> 6.53%, 11/07/2027<sup>(e)</sup> <br>|  | 400000 | &nbsp;&nbsp; 406852 |
| Bank of America Corp., | Bank of America Corp., |  |  |
| 4.98%, 01/24/2029<sup>(e)</sup> <br>|  | 5360000 | &nbsp;&nbsp; 5457262 |
| 4.62%, 05/09/2029<sup>(e)</sup> <br>|  | 1340000 | &nbsp;&nbsp; 1359159 |
| 4.82% (SOFR + 1.11%), <br> 05/09/2029<sup>(c)(d)</sup> <br>|  | 3894000 | &nbsp;&nbsp; 3927641 |
| 4.71% (SOFR + 1.01%), <br> 01/24/2031<sup>(c)(d)</sup> <br>|  | 1146000 | &nbsp;&nbsp; 1152733 |
| Series N, 4.58% (SOFR + <br> 0.87%), 02/06/2032<sup>(d)</sup> <br>|  | 5075000 | &nbsp;&nbsp; 5067917 |
| Series RR, 4.38%<sup>(e)(f)</sup> <br>|  | 1575000 | &nbsp;&nbsp; 1565661 |
| Bank of Montreal (Canada), 4.56% <br> (SOFR + 0.86%), 01/27/2029<sup>(d)</sup> <br>|  | 2661000 | &nbsp;&nbsp; 2668457 |
| Bank of New York Mellon (The), <br> 4.73%, 04/20/2029<sup>(e)</sup> <br>|  | 1093000 | &nbsp;&nbsp; 1111815 |
| Bank of Nova Scotia (The) (Canada), | Bank of Nova Scotia (The) (Canada), |  |  |
| 4.25%, 02/02/2030<sup>(e)</sup> <br>|  | 8525000 | &nbsp;&nbsp; 8568406 |
| 8.63%, 10/27/2082<sup>(e)</sup> <br>|  | 5123000 | &nbsp;&nbsp; 5417849 |
| Barclays PLC (United Kingdom), | Barclays PLC (United Kingdom), |  |  |
| 6.50%, 09/13/2027<sup>(e)</sup> <br>|  | 2839000 | &nbsp;&nbsp; 2875482 |
| 5.09%, 02/25/2029<sup>(e)</sup> <br>|  | 2040000 | &nbsp;&nbsp; 2078591 |
| 4.22%, 05/24/2030<sup>(e)</sup> <br>|  | 1897000 | &nbsp;&nbsp; 1898267 |
| 4.64% (SOFR + 0.93%), <br> 05/24/2030<sup>(d)</sup> <br>|  | 5837000 | &nbsp;&nbsp; 5846035 |
| BNP Paribas S.A. (France), | BNP Paribas S.A. (France), |  |  |
| 4.79%, 05/09/2029<sup>(b)(e)</sup> <br>|  | 2086000 | &nbsp;&nbsp; 2112687 |
| 5.14% (SOFR + 1.43%), <br> 05/09/2029<sup>(b)(d)</sup> <br>|  | 2681000 | &nbsp;&nbsp; 2710057 |
| Canadian Imperial Bank of Commerce <br> (Canada), 4.28%, <br> 01/29/2030<sup>(c)(e)</sup> <br>|  | 7707000 | &nbsp;&nbsp; 7759959 |
| Citibank N.A., | Citibank N.A., |  |  |
| 5.49%, 12/04/2026<sup>(c)</sup> <br>|  | 2410000 | &nbsp;&nbsp; 2436375 |
| 4.42% (SOFR + 0.71%), <br> 11/19/2027<sup>(d)</sup> <br>|  | 5111000 | &nbsp;&nbsp; 5124385 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Diversified Banks–(continued)** | **Diversified Banks–(continued)** | **Diversified Banks–(continued)** | **Diversified Banks–(continued)** |
| Citigroup, Inc., | Citigroup, Inc., |  |  |
| 4.64%, 05/07/2028<sup>(e)</sup> <br>|  | $3093000 | &nbsp;&nbsp; $3114988 |
| 4.85% (SOFR + 1.14%), <br> 05/07/2028<sup>(d)</sup> <br>|  | 2509000 | &nbsp;&nbsp; 2523839 |
| 4.79%, 03/04/2029<sup>(e)</sup> <br>|  | 5034000 | &nbsp;&nbsp; 5110152 |
| 4.54%, 09/19/2030<sup>(e)</sup> <br>|  | 1423000 | &nbsp;&nbsp; 1440025 |
| 5.17% (SOFR + 1.46%), <br> 05/07/2031<sup>(d)</sup> <br>|  | 731000 | &nbsp;&nbsp; 746338 |
| 4.87% (SOFR + 1.17%), <br> 09/11/2031<sup>(c)(d)</sup> <br>|  | 4300000 | &nbsp;&nbsp; 4349760 |
| Series T, 6.25%<sup>(c)(e)(f)</sup> <br>|  | 10832000 | &nbsp;&nbsp; 10888998 |
| Cooperatieve Rabobank U.A. <br> (Netherlands), 3.96%, <br> 10/17/2028<br>|  | 2008000 | &nbsp;&nbsp; 2022347 |
| Fifth Third Bancorp, 6.34%, <br> 07/27/2029<sup>(e)</sup> <br>|  | 229000 | &nbsp;&nbsp; 240837 |
| Fifth Third Bank N.A., | Fifth Third Bank N.A., |  |  |
| 4.50% (SOFR + 0.81%), <br> 01/28/2028<sup>(d)</sup> <br>|  | 2922000 | &nbsp;&nbsp; 2926512 |
| 4.97%, 01/28/2028<sup>(e)</sup> <br>|  | 2230000 | &nbsp;&nbsp; 2249371 |
| Fifth Third Financial Corp., 5.98%, <br> 01/30/2030<sup>(e)</sup> <br>|  | 376000 | &nbsp;&nbsp; 394181 |
| Goldman Sachs Bank USA, 5.28%, <br> 03/18/2027<sup>(e)</sup> <br>|  | 4628000 | &nbsp;&nbsp; 4630657 |
| HSBC Holdings PLC (United Kingdom), | HSBC Holdings PLC (United Kingdom), |  |  |
| 5.89%, 08/14/2027<sup>(e)</sup> <br>|  | 2000000 | &nbsp;&nbsp; 2017137 |
| 4.75% (SOFR + 1.04%), <br> 11/19/2028<sup>(d)</sup> <br>|  | 2883000 | &nbsp;&nbsp; 2902722 |
| 4.75% (SOFR + 1.03%), <br> 03/03/2029<sup>(d)</sup> <br>|  | 4015000 | &nbsp;&nbsp; 4044850 |
| HSBC USA, Inc., | HSBC USA, Inc., |  |  |
| 5.29%, 03/04/2027 |  | 3579000 | &nbsp;&nbsp; 3632005 |
| 4.65%, 06/03/2028 |  | 2038000 | &nbsp;&nbsp; 2072937 |
| ING Groep N.V. (Netherlands), <br> 6.08%, 09/11/2027<sup>(e)</sup> <br>|  | 2463000 | &nbsp;&nbsp; 2489855 |
| JPMorgan Chase & Co., | JPMorgan Chase & Co., |  |  |
| 6.07%, 10/22/2027<sup>(e)</sup> <br>|  | 2528000 | &nbsp;&nbsp; 2562829 |
| 5.04%, 01/23/2028<sup>(e)</sup> <br>|  | 2456000 | &nbsp;&nbsp; 2478272 |
| 5.57%, 04/22/2028<sup>(e)</sup> <br>|  | 1403000 | &nbsp;&nbsp; 1428352 |
| 4.98%, 07/22/2028<sup>(e)</sup> <br>|  | 4536000 | &nbsp;&nbsp; 4597104 |
| 4.51%, 10/22/2028<sup>(e)</sup> <br>|  | 2752000 | &nbsp;&nbsp; 2776800 |
| 4.50% (SOFR + 0.80%), <br> 01/24/2029<sup>(c)(d)</sup> <br>|  | 2025000 | &nbsp;&nbsp; 2034862 |
| 4.92%, 01/24/2029<sup>(e)</sup> <br>|  | 535000 | &nbsp;&nbsp; 544912 |
| 6.09%, 10/23/2029<sup>(e)</sup> <br>|  | 1379000 | &nbsp;&nbsp; 1448966 |
| KeyBank N.A., 5.85%, <br> 11/15/2027<sup>(c)</sup> <br>|  | 1773000 | &nbsp;&nbsp; 1826111 |
| Lloyds Banking Group PLC (United <br> Kingdom), | Lloyds Banking Group PLC (United <br> Kingdom), |  |  |
| 5.99%, 08/07/2027<sup>(e)</sup> <br>|  | 1991000 | &nbsp;&nbsp; 2008004 |
| 5.46%, 01/05/2028<sup>(e)</sup> <br>|  | 2963000 | &nbsp;&nbsp; 2999816 |
| 4.77% (SOFR + 1.06%), <br> 11/26/2028<sup>(d)</sup> <br>|  | 4470000 | &nbsp;&nbsp; 4502381 |
| Macquarie Bank Ltd. (Australia), <br> 4.16% (SOFR + 0.48%), <br> 02/03/2028<sup>(b)(d)</sup> <br>|  | 2270000 | &nbsp;&nbsp; 2272678 |
| Morgan Stanley Bank N.A., | Morgan Stanley Bank N.A., |  |  |
| 4.45%, 10/15/2027<sup>(c)(e)</sup> <br>|  | 2164000 | &nbsp;&nbsp; 2171973 |
| 4.95%, 01/14/2028<sup>(e)</sup> <br>|  | 2672000 | &nbsp;&nbsp; 2695182 |
| 5.50%, 05/26/2028<sup>(e)</sup> <br>|  | 3118000 | &nbsp;&nbsp; 3174441 |
| 4.97%, 07/14/2028<sup>(e)</sup> <br>|  | 2724000 | &nbsp;&nbsp; 2759516 |
| 5.02%, 01/12/2029<sup>(e)</sup> <br>|  | 1075000 | &nbsp;&nbsp; 1095933 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**4**

**Invesco Short Term Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Diversified Banks–(continued)** | **Diversified Banks–(continued)** | **Diversified Banks–(continued)** | **Diversified Banks–(continued)** |
| Morgan Stanley Private Bank N.A., | Morgan Stanley Private Bank N.A., |  |  |
| 4.45% (SOFR + 0.77%), <br> 07/06/2028<sup>(d)</sup> <br>|  | $3421000 | &nbsp;&nbsp; $3429751 |
| 4.47%, 07/06/2028<sup>(e)</sup> <br>|  | 1930000 | &nbsp;&nbsp; 1942955 |
| 4.20%, 11/17/2028<sup>(e)</sup> <br>|  | 12729000 | &nbsp;&nbsp; 12779315 |
| 4.21%, 02/08/2030<sup>(c)(e)</sup> <br>|  | 2794000 | &nbsp;&nbsp; 2807672 |
| National Australia Bank Ltd. <br> (Australia), 4.21% (SOFR + <br> 0.53%), 12/13/2028<sup>(b)(d)</sup> <br>|  | 2750000 | &nbsp;&nbsp; 2752552 |
| National Securities Clearing Corp., <br> 5.10%, 11/21/2027<sup>(b)</sup> <br>|  | 2239000 | &nbsp;&nbsp; 2290949 |
| NatWest Group PLC (United Kingdom), | NatWest Group PLC (United Kingdom), |  |  |
| 5.58%, 03/01/2028<sup>(e)</sup> <br>|  | 2158000 | &nbsp;&nbsp; 2192547 |
| 5.52%, 09/30/2028<sup>(e)</sup> <br>|  | 1700000 | &nbsp;&nbsp; 1741216 |
| Norinchukin Bank (The) (Japan), <br> 5.09%, 10/16/2029<sup>(b)(c)</sup> <br>|  | 698000 | &nbsp;&nbsp; 718527 |
| Pinnacle Bank, 5.96%, <br> 01/15/2036<sup>(e)</sup> <br>|  | 421000 | &nbsp;&nbsp; 428092 |
| PNC Bank N.A., | PNC Bank N.A., |  |  |
| 4.54%, 05/13/2027<sup>(c)(e)</sup> <br>|  | 3939000 | &nbsp;&nbsp; 3943427 |
| 4.42% (SOFR + 0.73%), <br> 07/21/2028<sup>(d)</sup> <br>|  | 2684000 | &nbsp;&nbsp; 2689267 |
| 4.43%, 07/21/2028<sup>(e)</sup> <br>|  | 3997000 | &nbsp;&nbsp; 4025453 |
| PNC Financial Services Group, Inc. (The), | PNC Financial Services Group, Inc. (The), |  |  |
| 6.62%, 10/20/2027<sup>(e)</sup> <br>|  | 1834000 | &nbsp;&nbsp; 1864528 |
| 4.08%, 01/26/2029<sup>(e)</sup> <br>|  | 2785000 | &nbsp;&nbsp; 2794190 |
| 4.32% (SOFR + 0.62%), <br> 01/26/2029<sup>(d)</sup> <br>|  | 2075000 | &nbsp;&nbsp; 2075110 |
| 5.58%, 06/12/2029<sup>(c)(e)</sup> <br>|  | 1632000 | &nbsp;&nbsp; 1691763 |
| Royal Bank of Canada (Canada), | Royal Bank of Canada (Canada), |  |  |
| 4.53% (SOFR + 0.83%), <br> 01/24/2029<sup>(d)</sup> <br>|  | 2403000 | &nbsp;&nbsp; 2411199 |
| 4.97%, 01/24/2029<sup>(c)(e)</sup> <br>|  | 4881000 | &nbsp;&nbsp; 4981532 |
| Santander UK Group Holdings PLC <br> (United Kingdom), 4.32%, <br> 09/22/2029<sup>(e)</sup> <br>|  | 3949000 | &nbsp;&nbsp; 3964335 |
| Standard Chartered PLC (United <br> Kingdom), | Standard Chartered PLC (United <br> Kingdom), |  |  |
| 6.19%, 07/06/2027<sup>(b)(e)</sup> <br>|  | 2002000 | &nbsp;&nbsp; 2016220 |
| 6.75%, 02/08/2028<sup>(b)(e)</sup> <br>|  | 1969000 | &nbsp;&nbsp; 2017520 |
| 4.94% (SOFR + 1.24%), <br> 01/21/2029<sup>(b)(d)</sup> <br>|  | 2089000 | &nbsp;&nbsp; 2107127 |
| 5.55%, 01/21/2029<sup>(b)(e)</sup> <br>|  | 2495000 | &nbsp;&nbsp; 2560726 |
| Sumitomo Mitsui Trust Bank Ltd. <br> (Japan), 4.46% (SOFR + 0.75%), <br> 09/11/2028<sup>(b)(d)</sup> <br>|  | 2280000 | &nbsp;&nbsp; 2289407 |
| Toronto-Dominion Bank (The) <br> (Canada), 4.81%, 06/03/2030<br>|  | 3189000 | &nbsp;&nbsp; 3280266 |
| Truist Bank, | Truist Bank, |  |  |
| 4.46% (SOFR + 0.77%), <br> 07/24/2028<sup>(d)</sup> <br>|  | 3340000 | &nbsp;&nbsp; 3347527 |
| 4.35% (SOFR + 0.66%), <br> 01/27/2029<sup>(d)</sup> <br>|  | 8454000 | &nbsp;&nbsp; 8454526 |
| 4.14%, 10/23/2029<sup>(c)(e)</sup> <br>|  | 14478000 | &nbsp;&nbsp; 14498230 |
| U.S. Bancorp, 6.79%, <br> 10/26/2027<sup>(e)</sup> <br>|  | 4846000 | &nbsp;&nbsp; 4937210 |
| Wells Fargo & Co., | Wells Fargo & Co., |  |  |
| 5.71%, 04/22/2028<sup>(e)</sup> <br>|  | 869000 | &nbsp;&nbsp; 885033 |
| 4.97%, 04/23/2029<sup>(e)</sup> <br>|  | 2480000 | &nbsp;&nbsp; 2528654 |
| 5.57%, 07/25/2029<sup>(e)</sup> <br>|  | 846000 | &nbsp;&nbsp; 875329 |
| 6.30%, 10/23/2029<sup>(e)</sup> <br>|  | 946000 | &nbsp;&nbsp; 997793 |
| 4.18%, 01/23/2030<sup>(c)(e)</sup> <br>|  | 919000 | &nbsp;&nbsp; 922381 |
| 7.63%<sup>(c)(e)(f)</sup> <br>|  | 920000 | &nbsp;&nbsp; 982282 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Diversified Banks–(continued)** | **Diversified Banks–(continued)** | **Diversified Banks–(continued)** | **Diversified Banks–(continued)** |
| Westpac New Zealand Ltd. (New <br> Zealand), | Westpac New Zealand Ltd. (New <br> Zealand), |  |  |
| 4.13%, 01/29/2029<sup>(b)</sup> <br>|  | $4089000 | &nbsp;&nbsp; $4117012 |
| 4.45% (SOFR + 0.75%), <br> 01/30/2031<sup>(b)(d)</sup> <br>|  | 5659000 | &nbsp;&nbsp; 5671411 |
|  |  |  | &nbsp;&nbsp; 322463761 |
| **Diversified Capital Markets–1.02%** | **Diversified Capital Markets–1.02%** | **Diversified Capital Markets–1.02%** | **Diversified Capital Markets–1.02%** |
| Deutsche Bank AG (Germany), | Deutsche Bank AG (Germany), |  |  |
| 4.90% (SOFR + 1.21%), <br> 01/10/2029<sup>(d)</sup> <br>|  | 1208000 | &nbsp;&nbsp; 1216811 |
| 5.37%, 01/10/2029<sup>(e)</sup> <br>|  | 1758000 | &nbsp;&nbsp; 1796991 |
| UBS Group AG (Switzerland), | UBS Group AG (Switzerland), |  |  |
| 4.15%, 12/23/2029<sup>(b)(e)</sup> <br>|  | 4509000 | &nbsp;&nbsp; 4512128 |
| 4.54% (SOFR + 0.84%), <br> 12/23/2029<sup>(b)(d)</sup> <br>|  | 10372000 | &nbsp;&nbsp; 10385057 |
| 4.21%, 04/10/2030<sup>(b)(c)(e)</sup> <br>|  | 3614000 | &nbsp;&nbsp; 3620952 |
|  |  |  | &nbsp;&nbsp; 21531939 |
| **Diversified Financial Services–2.13%** | **Diversified Financial Services–2.13%** | **Diversified Financial Services–2.13%** | **Diversified Financial Services–2.13%** |
| AerCap Ireland Capital DAC/AerCap <br> Global Aviation Trust (Ireland), | AerCap Ireland Capital DAC/AerCap <br> Global Aviation Trust (Ireland), |  |  |
| 6.10%, 01/15/2027 |  | 3246000 | &nbsp;&nbsp; 3301482 |
| 5.75%, 06/06/2028 |  | 1288000 | &nbsp;&nbsp; 1334122 |
| 4.38%, 11/15/2030 |  | 3238000 | &nbsp;&nbsp; 3247426 |
| Amrize Finance US LLC, | Amrize Finance US LLC, |  |  |
| 4.60%, 04/07/2027 |  | 2435000 | &nbsp;&nbsp; 2453469 |
| 4.95%, 04/07/2030 |  | 166000 | &nbsp;&nbsp; 170835 |
| Atlas Warehouse Lending Co. L.P., <br> 4.63%, 11/15/2028<sup>(b)</sup> <br>|  | 1492000 | &nbsp;&nbsp; 1492511 |
| Avolon Holdings Funding Ltd. (Ireland), | Avolon Holdings Funding Ltd. (Ireland), |  |  |
| 4.95%, 01/15/2028<sup>(b)</sup> <br>|  | 1785000 | &nbsp;&nbsp; 1809245 |
| 6.38%, 05/04/2028<sup>(b)</sup> <br>|  | 1662000 | &nbsp;&nbsp; 1732498 |
| 4.20%, 04/15/2029<sup>(b)</sup> <br>|  | 4741000 | &nbsp;&nbsp; 4729144 |
| Citadel Finance LLC, 4.75%, <br> 02/14/2029<sup>(b)</sup> <br>|  | 3802000 | &nbsp;&nbsp; 3785072 |
| Eagle Funding LuxCo S.a.r.l. <br> (Mexico), 5.50%, 08/17/2030<sup>(b)</sup> <br>|  | 16583000 | &nbsp;&nbsp; 16892107 |
| LPL Holdings, Inc., | LPL Holdings, Inc., |  |  |
| 5.70%, 05/20/2027 |  | 573000 | &nbsp;&nbsp; 582621 |
| 4.90%, 04/03/2028 |  | 2050000 | &nbsp;&nbsp; 2074982 |
| 6.75%, 11/17/2028 |  | 606000 | &nbsp;&nbsp; 642879 |
| Voya Global Funding, 4.60%, <br> 11/24/2030<sup>(b)</sup> <br>|  | 699000 | &nbsp;&nbsp; 709914 |
|  |  |  | &nbsp;&nbsp; 44958307 |
| **Diversified Metals & Mining–0.11%** | **Diversified Metals & Mining–0.11%** | **Diversified Metals & Mining–0.11%** | **Diversified Metals & Mining–0.11%** |
| Glencore Funding LLC (Australia), | Glencore Funding LLC (Australia), |  |  |
| 4.75% (SOFR + 1.06%), <br> 04/04/2027<sup>(b)(c)(d)</sup> <br>|  | 1065000 | &nbsp;&nbsp; 1069892 |
| 4.91%, 04/01/2028<sup>(b)</sup> <br>|  | 458000 | &nbsp;&nbsp; 466734 |
| 5.19%, 04/01/2030<sup>(b)</sup> <br>|  | 297000 | &nbsp;&nbsp; 307418 |
| Rio Tinto Finance (USA) PLC <br> (Australia), 4.88%, 03/14/2030<br>|  | 441000 | &nbsp;&nbsp; 455654 |
|  |  |  | &nbsp;&nbsp; 2299698 |
| **Diversified Support Services–0.11%** | **Diversified Support Services–0.11%** | **Diversified Support Services–0.11%** | **Diversified Support Services–0.11%** |
| Element Fleet Management Corp. <br> (Canada), | Element Fleet Management Corp. <br> (Canada), |  |  |
| 6.32%, 12/04/2028<sup>(b)(c)</sup> <br>|  | 1407000 | &nbsp;&nbsp; 1484788 |
| 5.04%, 03/25/2030<sup>(b)</sup> <br>|  | 697000 | &nbsp;&nbsp; 715052 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**5**

**Invesco Short Term Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Diversified Support Services–(continued)** | **Diversified Support Services–(continued)** | **Diversified Support Services–(continued)** | **Diversified Support Services–(continued)** |
| RB Global Holdings, Inc. (Canada), <br> 6.75%, 03/15/2028<sup>(b)</sup> <br>|  | $217000 | &nbsp;&nbsp; $220774 |
|  |  |  | &nbsp;&nbsp; 2420614 |
| **Electric Utilities–3.28%** | **Electric Utilities–3.28%** | **Electric Utilities–3.28%** | **Electric Utilities–3.28%** |
| Alexander Funding Trust II, 7.47%, <br> 07/31/2028<sup>(b)</sup> <br>|  | 1075000 | &nbsp;&nbsp; 1145538 |
| American Electric Power Co., Inc., <br> Series C, 5.80%, 03/15/2056<sup>(e)</sup> <br>|  | 1181000 | &nbsp;&nbsp; 1186997 |
| Capital Power (US Holdings), Inc. <br> (Canada), 5.26%, <br> 06/01/2028<sup>(b)</sup> <br>|  | 1855000 | &nbsp;&nbsp; 1893407 |
| CenterPoint Energy Houston <br> Electric LLC, 5.20%, <br> 10/01/2028<br>|  | 661000 | &nbsp;&nbsp; 683292 |
| Consolidated Edison Co. of New York, <br> Inc., 4.23% (SOFR + 0.52%), <br> 11/18/2027<sup>(d)</sup> <br>|  | 2123000 | &nbsp;&nbsp; 2126669 |
| Constellation Energy Generation LLC, <br> 3.90%, 01/08/2028<br>|  | 2998000 | &nbsp;&nbsp; 3000359 |
| Duke Energy Corp., | Duke Energy Corp., |  |  |
| 4.85%, 01/05/2027 |  | 2239000 | &nbsp;&nbsp; 2257217 |
| 5.00%, 12/08/2027 |  | 348000 | &nbsp;&nbsp; 354792 |
| 4.85%, 01/05/2029 |  | 518000 | &nbsp;&nbsp; 530958 |
| Duke Energy Florida LLC, 4.20%, <br> 12/01/2030<br>|  | 392000 | &nbsp;&nbsp; 395112 |
| Exelon Corp., 5.13%, <br> 03/15/2031<sup>(c)</sup> <br>|  | 839000 | &nbsp;&nbsp; 874507 |
| FirstEnergy Transmission LLC, <br> 4.55%, 01/15/2030<br>|  | 236000 | &nbsp;&nbsp; 239601 |
| Georgia Power Co., 4.00%, <br> 10/01/2028<br>|  | 2625000 | &nbsp;&nbsp; 2640572 |
| Jersey Central Power & Light Co., <br> 4.15%, 01/15/2029<sup>(b)</sup> <br>|  | 3494000 | &nbsp;&nbsp; 3509818 |
| National Rural Utilities Cooperative <br> Finance Corp., | National Rural Utilities Cooperative <br> Finance Corp., |  |  |
| 5.60%, 11/13/2026<sup>(c)</sup> <br>|  | 2030000 | &nbsp;&nbsp; 2052378 |
| 4.51% (SOFR + 0.80%), <br> 02/05/2027<sup>(c)(d)</sup> <br>|  | 3225000 | &nbsp;&nbsp; 3239700 |
| 4.12%, 09/16/2027 |  | 2810000 | &nbsp;&nbsp; 2824082 |
| 3.95%, 12/10/2027 |  | 2862000 | &nbsp;&nbsp; 2872582 |
| 4.85%, 02/07/2029 |  | 1006000 | &nbsp;&nbsp; 1033693 |
| Series D, <br>4.14% (SOFR + 0.43%), <br> 08/09/2027<sup>(d)</sup> <br>|  | 4351000 | &nbsp;&nbsp; 4356354 |
| 4.15%, 08/25/2028 |  | 5225000 | &nbsp;&nbsp; 5262901 |
| 4.05%, 02/09/2029 |  | 2625000 | &nbsp;&nbsp; 2638475 |
| NextEra Energy Capital Holdings, Inc., | NextEra Energy Capital Holdings, Inc., |  |  |
| 4.69%, 09/01/2027 |  | 4126000 | &nbsp;&nbsp; 4174079 |
| 4.85%, 02/04/2028 |  | 1466000 | &nbsp;&nbsp; 1493546 |
| 6.38%, 08/15/2055<sup>(e)</sup> <br>|  | 926000 | &nbsp;&nbsp; 962407 |
| Niagara Mohawk Power Corp., <br> 4.65%, 10/03/2030<sup>(b)</sup> <br>|  | 889000 | &nbsp;&nbsp; 903148 |
| NRG Energy, Inc., 4.73%, <br> 10/15/2030<sup>(b)</sup> <br>|  | 951000 | &nbsp;&nbsp; 960485 |
| Oncor Electric Delivery Co. LLC, <br> 4.50%, 03/20/2027<sup>(b)(c)</sup> <br>|  | 3184000 | &nbsp;&nbsp; 3208023 |
| Pacific Gas and Electric Co., 6.10%, <br> 01/15/2029<br>|  | 1707000 | &nbsp;&nbsp; 1793129 |
| PacifiCorp, 5.10%, 02/15/2029 |  | 601000 | &nbsp;&nbsp; 618255 |
| Pinnacle West Capital Corp., | Pinnacle West Capital Corp., |  |  |
| 4.90%, 05/15/2028 |  | 468000 | &nbsp;&nbsp; 477282 |
| 5.15%, 05/15/2030 |  | 359000 | &nbsp;&nbsp; 372224 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Electric Utilities–(continued)** | **Electric Utilities–(continued)** | **Electric Utilities–(continued)** | **Electric Utilities–(continued)** |
| Trans-Allegheny Interstate Line Co., <br> 5.00%, 01/15/2031<sup>(b)</sup> <br>|  | $136000 | &nbsp;&nbsp; $140632 |
| Vistra Operations Co. LLC, | Vistra Operations Co. LLC, |  |  |
| 5.05%, 12/30/2026<sup>(b)</sup> <br>|  | 1344000 | &nbsp;&nbsp; 1359220 |
| 5.63%, 02/15/2027<sup>(b)</sup> <br>|  | 1500000 | &nbsp;&nbsp; 1500207 |
| 4.30%, 10/15/2028<sup>(b)</sup> <br>|  | 2974000 | &nbsp;&nbsp; 2978464 |
| 4.60%, 10/15/2030<sup>(b)</sup> <br>|  | 506000 | &nbsp;&nbsp; 509463 |
| 4.70%, 01/31/2031<sup>(b)</sup> <br>|  | 583000 | &nbsp;&nbsp; 586610 |
| Wisconsin Electric Power Co., <br> 3.95%, 03/01/2029<br>|  | 1801000 | &nbsp;&nbsp; 1807144 |
| Xcel Energy, Inc., 4.75%, <br> 03/21/2028<br>|  | 296000 | &nbsp;&nbsp; 300781 |
|  |  |  | &nbsp;&nbsp; 69264103 |
| **Electrical Components & Equipment–0.71%** | **Electrical Components & Equipment–0.71%** | **Electrical Components & Equipment–0.71%** | **Electrical Components & Equipment–0.71%** |
| EnerSys, 4.38%, 12/15/2027<sup>(b)</sup> <br>|  | 1087000 | &nbsp;&nbsp; 1086528 |
| Molex Electronic Technologies LLC, <br> 4.75%, 04/30/2028<sup>(b)</sup> <br>|  | 696000 | &nbsp;&nbsp; 705840 |
| Regal Rexnord Corp., 6.05%, <br> 04/15/2028<br>|  | 1294000 | &nbsp;&nbsp; 1341980 |
| Vertiv Group Corp., 4.13%, <br> 11/15/2028<sup>(b)</sup> <br>|  | 11855000 | &nbsp;&nbsp; 11814945 |
|  |  |  | &nbsp;&nbsp; 14949293 |
| **Electronic Components–0.62%** | **Electronic Components–0.62%** | **Electronic Components–0.62%** | **Electronic Components–0.62%** |
| Amphenol Corp., | Amphenol Corp., |  |  |
| 3.80%, 11/15/2027 |  | 9760000 | &nbsp;&nbsp; 9780206 |
| 4.24% (SOFR + 0.53%), <br> 11/15/2027<sup>(d)</sup> <br>|  | 3185000 | &nbsp;&nbsp; 3191541 |
|  |  |  | &nbsp;&nbsp; 12971747 |
| **Electronic Equipment & Instruments–0.04%** | **Electronic Equipment & Instruments–0.04%** | **Electronic Equipment & Instruments–0.04%** | **Electronic Equipment & Instruments–0.04%** |
| Keysight Technologies, Inc., 5.35%, <br> 07/30/2030<br>|  | 841000 | &nbsp;&nbsp; 882272 |
| **Electronic Manufacturing Services–0.14%** | **Electronic Manufacturing Services–0.14%** | **Electronic Manufacturing Services–0.14%** | **Electronic Manufacturing Services–0.14%** |
| Jabil, Inc., 4.20%, 02/01/2029 |  | 2917000 | &nbsp;&nbsp; 2923103 |
| **Environmental & Facilities Services–0.21%** | **Environmental & Facilities Services–0.21%** | **Environmental & Facilities Services–0.21%** | **Environmental & Facilities Services–0.21%** |
| Veralto Corp., | Veralto Corp., |  |  |
| 5.50%, 09/18/2026 |  | 3031000 | &nbsp;&nbsp; 3052235 |
| 5.35%, 09/18/2028 |  | 1232000 | &nbsp;&nbsp; 1272594 |
|  |  |  | &nbsp;&nbsp; 4324829 |
| **Fertilizers & Agricultural Chemicals–0.11%** | **Fertilizers & Agricultural Chemicals–0.11%** | **Fertilizers & Agricultural Chemicals–0.11%** | **Fertilizers & Agricultural Chemicals–0.11%** |
| Mosaic Co. (The), 4.35%, <br> 01/15/2029<br>|  | 2344000 | &nbsp;&nbsp; 2364556 |
| **Financial Exchanges & Data–0.01%** | **Financial Exchanges & Data–0.01%** | **Financial Exchanges & Data–0.01%** | **Financial Exchanges & Data–0.01%** |
| Nasdaq, Inc., 5.35%, 06/28/2028 |  | 161000 | &nbsp;&nbsp; 165814 |
| **Food Retail–0.16%** | **Food Retail–0.16%** | **Food Retail–0.16%** | **Food Retail–0.16%** |
| Alimentation Couche-Tard, Inc. <br> (Canada), 4.15%, <br> 09/29/2028<sup>(b)</sup> <br>|  | 3256000 | &nbsp;&nbsp; 3274916 |
| **Forest Products–0.02%** | **Forest Products–0.02%** | **Forest Products–0.02%** | **Forest Products–0.02%** |
| Georgia-Pacific LLC, 4.40%, <br> 06/30/2028<sup>(b)</sup> <br>|  | 441000 | &nbsp;&nbsp; 446484 |
| **Gas Utilities–0.05%** | **Gas Utilities–0.05%** | **Gas Utilities–0.05%** | **Gas Utilities–0.05%** |
| Snam S.p.A. (Italy), 5.00%, <br> 05/28/2030<sup>(b)</sup> <br>|  | 511000 | &nbsp;&nbsp; 526291 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**6**

**Invesco Short Term Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Gas Utilities–(continued)** | **Gas Utilities–(continued)** | **Gas Utilities–(continued)** | **Gas Utilities–(continued)** |
| Southwest Gas Corp., 5.45%, <br> 03/23/2028<br>|  | $451000 | &nbsp;&nbsp; $463703 |
|  |  |  | &nbsp;&nbsp; 989994 |
| **Health Care Distributors–0.12%** | **Health Care Distributors–0.12%** | **Health Care Distributors–0.12%** | **Health Care Distributors–0.12%** |
| Cardinal Health, Inc., 4.50%, <br> 09/15/2030<br>|  | 236000 | &nbsp;&nbsp; 239475 |
| Cencora, Inc., | Cencora, Inc., |  |  |
| 3.95%, 02/13/2029 |  | 1322000 | &nbsp;&nbsp; 1322743 |
| 4.25%, 11/15/2030<sup>(c)</sup> <br>|  | 967000 | &nbsp;&nbsp; 970873 |
|  |  |  | &nbsp;&nbsp; 2533091 |
| **Health Care Equipment–0.40%** | **Health Care Equipment–0.40%** | **Health Care Equipment–0.40%** | **Health Care Equipment–0.40%** |
| GE HealthCare Technologies, Inc., <br> 4.15%, 12/15/2028<br>|  | 978000 | &nbsp;&nbsp; 983388 |
| Stryker Corp., | Stryker Corp., |  |  |
| 4.55%, 02/10/2027 |  | 3283000 | &nbsp;&nbsp; 3308649 |
| 4.70%, 02/10/2028 |  | 4133000 | &nbsp;&nbsp; 4196424 |
|  |  |  | &nbsp;&nbsp; 8488461 |
| **Health Care Facilities–0.27%** | **Health Care Facilities–0.27%** | **Health Care Facilities–0.27%** | **Health Care Facilities–0.27%** |
| Ascension Health, Series 2025, <br> 4.08%, 11/15/2028<br>|  | 5714000 | &nbsp;&nbsp; 5764370 |
| **Health Care REITs–0.03%** | **Health Care REITs–0.03%** | **Health Care REITs–0.03%** | **Health Care REITs–0.03%** |
| Omega Healthcare Investors, Inc., <br> 5.20%, 07/01/2030<sup>(c)</sup> <br>|  | 707000 | &nbsp;&nbsp; 725307 |
| **Health Care Services–0.49%** | **Health Care Services–0.49%** | **Health Care Services–0.49%** | **Health Care Services–0.49%** |
| CommonSpirit Health, 4.35%, <br> 09/01/2030<br>|  | 337000 | &nbsp;&nbsp; 338667 |
| CVS Health Corp., | CVS Health Corp., |  |  |
| 5.00%, 01/30/2029 |  | 663000 | &nbsp;&nbsp; 680756 |
| 7.00%, 03/10/2055<sup>(e)</sup> <br>|  | 5099000 | &nbsp;&nbsp; 5366234 |
| HCA, Inc., 5.00%, 03/01/2028 |  | 621000 | &nbsp;&nbsp; 634079 |
| Icon Investments Six DAC, | Icon Investments Six DAC, |  |  |
| 5.81%, 05/08/2027 |  | 1655000 | &nbsp;&nbsp; 1670147 |
| 5.85%, 05/08/2029 |  | 1536000 | &nbsp;&nbsp; 1573016 |
|  |  |  | &nbsp;&nbsp; 10262899 |
| **Health Care Supplies–0.21%** | **Health Care Supplies–0.21%** | **Health Care Supplies–0.21%** | **Health Care Supplies–0.21%** |
| Medline Borrower L.P., 3.88%, <br> 04/01/2029<sup>(b)</sup> <br>|  | 3363000 | &nbsp;&nbsp; 3309718 |
| Solventum Corp., 5.45%, <br> 02/25/2027<br>|  | 1087000 | &nbsp;&nbsp; 1101805 |
|  |  |  | &nbsp;&nbsp; 4411523 |
| **Heavy Electrical Equipment–0.04%** | **Heavy Electrical Equipment–0.04%** | **Heavy Electrical Equipment–0.04%** | **Heavy Electrical Equipment–0.04%** |
| GE Vernova, Inc., 4.25%, <br> 02/04/2031<br>|  | 822000 | &nbsp;&nbsp; 827974 |
| **Home Improvement Retail–0.47%** | **Home Improvement Retail–0.47%** | **Home Improvement Retail–0.47%** | **Home Improvement Retail–0.47%** |
| Lowe`s Cos., Inc., | Lowe`s Cos., Inc., |  |  |
| 3.95%, 10/15/2027<sup>(c)</sup> <br>|  | 4799000 | &nbsp;&nbsp; 4815302 |
| 4.00%, 10/15/2028 |  | 5038000 | &nbsp;&nbsp; 5054195 |
|  |  |  | &nbsp;&nbsp; 9869497 |
| **Hotel & Resort REITs–0.17%** | **Hotel & Resort REITs–0.17%** | **Hotel & Resort REITs–0.17%** | **Hotel & Resort REITs–0.17%** |
| Host Hotels & Resorts L.P., 4.25%, <br> 12/15/2028<br>|  | 3555000 | &nbsp;&nbsp; 3571525 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Hotels, Resorts & Cruise Lines–1.15%** | **Hotels, Resorts & Cruise Lines–1.15%** | **Hotels, Resorts & Cruise Lines–1.15%** | **Hotels, Resorts & Cruise Lines–1.15%** |
| Carnival Corp., | Carnival Corp., |  |  |
| 5.13%, 05/01/2029<sup>(b)</sup> <br>|  | $14662000 | &nbsp;&nbsp; $14879305 |
| 5.75%, 03/15/2030<sup>(b)(c)</sup> <br>|  | 4662000 | &nbsp;&nbsp; 4824881 |
| Hilton Domestic Operating Co., Inc., <br> 3.75%, 05/01/2029<sup>(b)</sup> <br>|  | 1800000 | &nbsp;&nbsp; 1753551 |
| Marriott International, Inc., | Marriott International, Inc., |  |  |
| 4.20%, 07/15/2027 |  | 2162000 | &nbsp;&nbsp; 2171757 |
| 4.80%, 03/15/2030 |  | 642000 | &nbsp;&nbsp; 659506 |
|  |  |  | &nbsp;&nbsp; 24289000 |
| **Housewares & Specialties–0.05%** | **Housewares & Specialties–0.05%** | **Housewares & Specialties–0.05%** | **Housewares & Specialties–0.05%** |
| Newell Brands, Inc., 6.38%, <br> 05/15/2030<sup>(c)</sup> <br>|  | 950000 | &nbsp;&nbsp; 953678 |
| **Independent Power Producers & Energy Traders–0.03%** | **Independent Power Producers & Energy Traders–0.03%** | **Independent Power Producers & Energy Traders–0.03%** | **Independent Power Producers & Energy Traders–0.03%** |
| VoltaGrid LLC, 7.38%, <br> 11/01/2030<sup>(b)</sup> <br>|  | 675000 | &nbsp;&nbsp; 705146 |
| **Industrial Machinery & Supplies & Components–0.08%** | **Industrial Machinery & Supplies & Components–0.08%** | **Industrial Machinery & Supplies & Components–0.08%** | **Industrial Machinery & Supplies & Components–0.08%** |
| Ingersoll Rand, Inc., 5.20%, <br> 06/15/2027<br>|  | 813000 | &nbsp;&nbsp; 825109 |
| Nordson Corp., 5.60%, <br> 09/15/2028<br>|  | 455000 | &nbsp;&nbsp; 470718 |
| Weir Group, Inc. (United Kingdom), <br> 5.35%, 05/06/2030<sup>(b)</sup> <br>|  | 409000 | &nbsp;&nbsp; 423573 |
|  |  |  | &nbsp;&nbsp; 1719400 |
| **Industrial REITs–0.01%** | **Industrial REITs–0.01%** | **Industrial REITs–0.01%** | **Industrial REITs–0.01%** |
| LXP Industrial Trust, 6.75%, <br> 11/15/2028<br>|  | 124000 | &nbsp;&nbsp; 131457 |
| **Insurance Brokers–0.08%** | **Insurance Brokers–0.08%** | **Insurance Brokers–0.08%** | **Insurance Brokers–0.08%** |
| Arthur J. Gallagher & Co., 4.60%, <br> 12/15/2027<br>|  | 1627000 | &nbsp;&nbsp; 1645839 |
| **Integrated Oil & Gas–0.76%** | **Integrated Oil & Gas–0.76%** | **Integrated Oil & Gas–0.76%** | **Integrated Oil & Gas–0.76%** |
| SA Global Sukuk Ltd. (Saudi Arabia), <br> 4.13%, 09/17/2030<sup>(b)</sup> <br>|  | 5705000 | &nbsp;&nbsp; 5664017 |
| Saudi Arabian Oil Co. (Saudi Arabia), | Saudi Arabian Oil Co. (Saudi Arabia), |  |  |
| 4.00%, 02/02/2029<sup>(b)(c)</sup> <br>|  | 5148000 | &nbsp;&nbsp; 5151822 |
| 4.75%, 06/02/2030<sup>(b)</sup> <br>|  | 5022000 | &nbsp;&nbsp; 5127249 |
|  |  |  | &nbsp;&nbsp; 15943088 |
| **Integrated Telecommunication Services–1.20%** | **Integrated Telecommunication Services–1.20%** | **Integrated Telecommunication Services–1.20%** | **Integrated Telecommunication Services–1.20%** |
| AT&T, Inc., 4.70%, 08/15/2030<sup>(c)</sup> <br>|  | 1165000 | &nbsp;&nbsp; 1194763 |
| NBN Co. Ltd. (Australia), 4.00%, <br> 10/01/2027<sup>(b)</sup> <br>|  | 9091000 | &nbsp;&nbsp; 9116708 |
| NTT Finance Corp. (Japan), | NTT Finance Corp. (Japan), |  |  |
| 4.88%, 07/16/2030<sup>(b)</sup> <br>|  | 984000 | &nbsp;&nbsp; 1009703 |
| 5.00% (SOFR + 1.31%), <br> 07/16/2030<sup>(b)(d)</sup> <br>|  | 992000 | &nbsp;&nbsp; 1008852 |
| Orange S.A. (France), 4.00%, <br> 01/13/2029<sup>(b)(c)</sup> <br>|  | 4185000 | &nbsp;&nbsp; 4198909 |
| SV RNO Property Owner 1 LLC, <br> 5.88%, 03/01/2031<sup>(b)</sup> <br>|  | 1184000 | &nbsp;&nbsp; 1190139 |
| TELUS Corp. (Canada), 6.63%, <br> 10/15/2055<sup>(c)(e)</sup> <br>|  | 3914000 | &nbsp;&nbsp; 4044485 |
| WULF Compute LLC, 7.75%, <br> 10/15/2030<sup>(b)(c)</sup> <br>|  | 1721000 | &nbsp;&nbsp; 1823871 |
| Zegona Finance PLC (United <br> Kingdom), 8.63%, <br> 07/15/2029<sup>(b)</sup> <br>|  | 1626000 | &nbsp;&nbsp; 1721926 |
|  |  |  | &nbsp;&nbsp; 25309356 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**7**

**Invesco Short Term Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Interactive Home Entertainment–0.46%** | **Interactive Home Entertainment–0.46%** | **Interactive Home Entertainment–0.46%** | **Interactive Home Entertainment–0.46%** |
| Roblox Corp., 3.88%, <br> 05/01/2030<sup>(b)</sup> <br>|  | $10200000 | &nbsp;&nbsp; $9746321 |
| **Interactive Media & Services–1.26%** | **Interactive Media & Services–1.26%** | **Interactive Media & Services–1.26%** | **Interactive Media & Services–1.26%** |
| Alphabet, Inc., | Alphabet, Inc., |  |  |
| 3.88%, 11/15/2028 |  | 3933000 | &nbsp;&nbsp; 3962437 |
| 3.70%, 02/15/2029 |  | 15360000 | &nbsp;&nbsp; 15376942 |
| Discovery Global Holdings, Inc., <br> 4.05%, 03/15/2029<br>|  | 5600000 | &nbsp;&nbsp; 5544672 |
| Flutter Treasury DAC (Ireland), <br> 5.88%, 06/04/2031<sup>(b)</sup> <br>|  | 411000 | &nbsp;&nbsp; 410087 |
| Meta Platforms, Inc., 4.20%, <br> 11/15/2030<br>|  | 1361000 | &nbsp;&nbsp; 1373298 |
|  |  |  | &nbsp;&nbsp; 26667436 |
| **Investment Banking & Brokerage–3.83%** | **Investment Banking & Brokerage–3.83%** | **Investment Banking & Brokerage–3.83%** | **Investment Banking & Brokerage–3.83%** |
| Charles Schwab Corp. (The), | Charles Schwab Corp. (The), |  |  |
| 5.88%, 08/24/2026 |  | 4686000 | &nbsp;&nbsp; 4723819 |
| 4.34%, 11/14/2031<sup>(e)</sup> <br>|  | 492000 | &nbsp;&nbsp; 495284 |
| Goldman Sachs Group, Inc. (The), | Goldman Sachs Group, Inc. (The), |  |  |
| 4.52% (SOFR + 0.81%), <br> 03/09/2027<sup>(d)</sup> <br>|  | 2966000 | &nbsp;&nbsp; 2966700 |
| 4.52% (SOFR + 0.82%), <br> 09/10/2027<sup>(d)</sup> <br>|  | 246000 | &nbsp;&nbsp; 246469 |
| 4.94%, 04/23/2028<sup>(e)</sup> <br>|  | 1840000 | &nbsp;&nbsp; 1857712 |
| 4.99% (SOFR + 1.29%), <br> 04/23/2028<sup>(c)(d)</sup> <br>|  | 4151000 | &nbsp;&nbsp; 4183144 |
| 4.15%, 01/21/2029<sup>(e)</sup> <br>|  | 6335000 | &nbsp;&nbsp; 6339265 |
| 4.15%, 10/21/2029<sup>(e)</sup> <br>|  | 11773000 | &nbsp;&nbsp; 11778147 |
| 4.78% (SOFR + 1.08%), <br> 01/28/2031<sup>(c)(d)</sup> <br>|  | 4782000 | &nbsp;&nbsp; 4814502 |
| Series O, 5.30%<sup>(c)(e)(f)</sup> <br>|  | 6402000 | &nbsp;&nbsp; 6442781 |
| Series W, 7.50%<sup>(e)(f)</sup> <br>|  | 10381000 | &nbsp;&nbsp; 11104244 |
| Morgan Stanley, | Morgan Stanley, |  |  |
| 5.65%, 04/13/2028<sup>(e)</sup> <br>|  | 925000 | &nbsp;&nbsp; 941495 |
| 4.99%, 04/12/2029<sup>(e)</sup> <br>|  | 2360000 | &nbsp;&nbsp; 2403248 |
| 5.45%, 07/20/2029<sup>(e)</sup> <br>|  | 465000 | &nbsp;&nbsp; 479549 |
| 4.24%, 01/09/2030<sup>(e)</sup> <br>|  | 5678000 | &nbsp;&nbsp; 5698623 |
| Series I, <br>4.13%, 10/18/2029<sup>(e)</sup> <br>|  | 14704000 | &nbsp;&nbsp; 14728605 |
| 4.36%, 10/22/2031<sup>(e)</sup> <br>|  | 1542000 | &nbsp;&nbsp; 1545948 |
|  |  |  | &nbsp;&nbsp; 80749535 |
| **IT Consulting & Other Services–0.13%** | **IT Consulting & Other Services–0.13%** | **IT Consulting & Other Services–0.13%** | **IT Consulting & Other Services–0.13%** |
| International Business Machines <br> Corp., 4.00%, 02/03/2029<sup>(c)</sup> <br>|  | 2836000 | &nbsp;&nbsp; 2846614 |
| **Leisure Facilities–0.12%** | **Leisure Facilities–0.12%** | **Leisure Facilities–0.12%** | **Leisure Facilities–0.12%** |
| Vail Resorts, Inc., 5.63%, <br> 07/15/2030<sup>(b)</sup> <br>|  | 2449000 | &nbsp;&nbsp; 2493486 |
| **Life & Health Insurance–3.57%** | **Life & Health Insurance–3.57%** | **Life & Health Insurance–3.57%** | **Life & Health Insurance–3.57%** |
| American National Global Funding, <br> 5.55%, 01/28/2030<sup>(b)</sup> <br>|  | 502000 | &nbsp;&nbsp; 514942 |
| Athene Global Funding, | Athene Global Funding, |  |  |
| 5.62%, 05/08/2026<sup>(b)</sup> <br>|  | 3352000 | &nbsp;&nbsp; 3360690 |
| 4.86%, 08/27/2026<sup>(b)</sup> <br>|  | 3802000 | &nbsp;&nbsp; 3816245 |
| 5.52%, 03/25/2027<sup>(b)</sup> <br>|  | 1338000 | &nbsp;&nbsp; 1358016 |
| Constellation Global Funding, <br> 4.85%, 10/22/2030<sup>(b)</sup> <br>|  | 896000 | &nbsp;&nbsp; 895547 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Life & Health Insurance–(continued)** | **Life & Health Insurance–(continued)** | **Life & Health Insurance–(continued)** | **Life & Health Insurance–(continued)** |
| Corebridge Global Funding, | Corebridge Global Funding, |  |  |
| 5.00% (SOFR + 1.30%), <br> 09/25/2026<sup>(b)(d)</sup> <br>|  | $2793000 | &nbsp;&nbsp; $2807003 |
| 4.65%, 08/20/2027<sup>(b)</sup> <br>|  | 2056000 | &nbsp;&nbsp; 2075947 |
| 5.90%, 09/19/2028<sup>(b)</sup> <br>|  | 891000 | &nbsp;&nbsp; 930383 |
| 4.56% (SOFR + 0.86%), <br> 12/15/2028<sup>(b)(d)</sup> <br>|  | 8055000 | &nbsp;&nbsp; 8054191 |
| 5.20%, 01/12/2029<sup>(b)(c)</sup> <br>|  | 676000 | &nbsp;&nbsp; 696267 |
| 5.20%, 06/24/2029<sup>(b)(c)</sup> <br>|  | 1251000 | &nbsp;&nbsp; 1285760 |
| Equitable America Global Funding, | Equitable America Global Funding, |  |  |
| 3.95%, 09/15/2027<sup>(b)</sup> <br>|  | 3218000 | &nbsp;&nbsp; 3216862 |
| 4.65%, 06/09/2028<sup>(b)</sup> <br>|  | 2619000 | &nbsp;&nbsp; 2649783 |
| GA Global Funding Trust, | GA Global Funding Trust, |  |  |
| 4.40%, 09/23/2027<sup>(b)(c)</sup> <br>|  | 2880000 | &nbsp;&nbsp; 2890371 |
| 5.50%, 01/08/2029<sup>(b)</sup> <br>|  | 1535000 | &nbsp;&nbsp; 1574164 |
| Lincoln Financial Global Funding, <br> 4.63%, 05/28/2028<sup>(b)</sup> <br>|  | 4165000 | &nbsp;&nbsp; 4190846 |
| MassMutual Global Funding II, <br> 5.10%, 04/09/2027<sup>(b)(c)</sup> <br>|  | 3156000 | &nbsp;&nbsp; 3202620 |
| New York Life Global Funding, | New York Life Global Funding, |  |  |
| 4.15%, 07/25/2028<sup>(b)</sup> <br>|  | 6618000 | &nbsp;&nbsp; 6658770 |
| 4.36% (SOFR + 0.66%), <br> 07/25/2028<sup>(b)(d)</sup> <br>|  | 6315000 | &nbsp;&nbsp; 6339151 |
| Northwestern Mutual Global Funding, <br> 5.07%, 03/25/2027<sup>(b)</sup> <br>|  | 1616000 | &nbsp;&nbsp; 1637129 |
| Pacific Life Global Funding II, | Pacific Life Global Funding II, |  |  |
| 5.50%, 08/28/2026<sup>(b)</sup> <br>|  | 3333000 | &nbsp;&nbsp; 3358422 |
| 4.50%, 08/28/2029<sup>(b)(c)</sup> <br>|  | 3958000 | &nbsp;&nbsp; 4018470 |
| Pricoa Global Funding I, | Pricoa Global Funding I, |  |  |
| 5.55%, 08/28/2026<sup>(b)(c)</sup> <br>|  | 1603000 | &nbsp;&nbsp; 1615509 |
| 4.40%, 08/27/2027<sup>(b)(c)</sup> <br>|  | 1845000 | &nbsp;&nbsp; 1863175 |
| Principal Life Global Funding II, <br> 5.00%, 01/16/2027<sup>(b)(c)</sup> <br>|  | 650000 | &nbsp;&nbsp; 656757 |
| Protective Life Corp., 4.70%, <br> 01/15/2031<sup>(b)</sup> <br>|  | 519000 | &nbsp;&nbsp; 524320 |
| Protective Life Global Funding, <br> 4.16%, 01/15/2029<sup>(b)</sup> <br>|  | 5147000 | &nbsp;&nbsp; 5155209 |
|  |  |  | &nbsp;&nbsp; 75346549 |
| **Life Sciences Tools & Services–0.04%** | **Life Sciences Tools & Services–0.04%** | **Life Sciences Tools & Services–0.04%** | **Life Sciences Tools & Services–0.04%** |
| Thermo Fisher Scientific, Inc., <br> 4.22%, 02/12/2031<br>|  | 907000 | &nbsp;&nbsp; 914643 |
| **Managed Health Care–0.10%** | **Managed Health Care–0.10%** | **Managed Health Care–0.10%** | **Managed Health Care–0.10%** |
| UnitedHealth Group, Inc., 4.75%, <br> 07/15/2026<br>|  | 2108000 | &nbsp;&nbsp; 2115134 |
| **Marine Transportation–0.10%** | **Marine Transportation–0.10%** | **Marine Transportation–0.10%** | **Marine Transportation–0.10%** |
| NCL Corp. Ltd., 5.88%, <br> 01/15/2031<sup>(b)</sup> <br>|  | 2042000 | &nbsp;&nbsp; 2064482 |
| **Multi-Family Residential REITs–0.23%** | **Multi-Family Residential REITs–0.23%** | **Multi-Family Residential REITs–0.23%** | **Multi-Family Residential REITs–0.23%** |
| Camden Property Trust, 5.85%, <br> 11/03/2026<sup>(c)</sup> <br>|  | 4846000 | &nbsp;&nbsp; 4901803 |
| **Multi-Utilities–0.33%** | **Multi-Utilities–0.33%** | **Multi-Utilities–0.33%** | **Multi-Utilities–0.33%** |
| Algonquin Power & Utilities Corp. <br> (Canada), 5.37%, 06/15/2026<br>|  | 1440000 | &nbsp;&nbsp; 1444968 |
| DTE Energy Co., 4.95%, <br> 07/01/2027<br>|  | 562000 | &nbsp;&nbsp; 568907 |
| NiSource, Inc., 5.25%, <br> 03/30/2028<br>|  | 216000 | &nbsp;&nbsp; 221524 |
| Sempra, 6.38%, 04/01/2056<sup>(e)</sup> <br>|  | 265000 | &nbsp;&nbsp; 271412 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**8**

**Invesco Short Term Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Multi-Utilities–(continued)** | **Multi-Utilities–(continued)** | **Multi-Utilities–(continued)** | **Multi-Utilities–(continued)** |
| WEC Energy Group, Inc., | WEC Energy Group, Inc., |  |  |
| 5.15%, 10/01/2027 |  | $452000 | &nbsp;&nbsp; $460123 |
| 4.75%, 01/15/2028 |  | 3850000 | &nbsp;&nbsp; 3909945 |
|  |  |  | &nbsp;&nbsp; 6876879 |
| **Office REITs–0.01%** | **Office REITs–0.01%** | **Office REITs–0.01%** | **Office REITs–0.01%** |
| COPT Defense Properties L.P., <br> 4.50%, 10/15/2030<br>|  | 177000 | &nbsp;&nbsp; 177823 |
| **Oil & Gas Exploration & Production–0.60%** | **Oil & Gas Exploration & Production–0.60%** | **Oil & Gas Exploration & Production–0.60%** | **Oil & Gas Exploration & Production–0.60%** |
| Diamondback Energy, Inc., | Diamondback Energy, Inc., |  |  |
| 5.20%, 04/18/2027 |  | 789000 | &nbsp;&nbsp; 799296 |
| 5.15%, 01/30/2030<sup>(c)</sup> <br>|  | 552000 | &nbsp;&nbsp; 573178 |
| EOG Resources, Inc., 4.40%, <br> 07/15/2028<br>|  | 441000 | &nbsp;&nbsp; 446934 |
| EQT Corp., 6.50%, 07/01/2027 |  | 7360000 | &nbsp;&nbsp; 7513959 |
| Transocean Titan Financing Ltd., <br> 8.38%, 02/01/2028<sup>(b)</sup> <br>|  | 2584214 | &nbsp;&nbsp; 2650205 |
| Var Energi ASA (Norway), 5.88%, <br> 05/22/2030<sup>(b)</sup> <br>|  | 644000 | &nbsp;&nbsp; 676815 |
|  |  |  | &nbsp;&nbsp; 12660387 |
| **Oil & Gas Storage & Transportation–1.78%** | **Oil & Gas Storage & Transportation–1.78%** | **Oil & Gas Storage & Transportation–1.78%** | **Oil & Gas Storage & Transportation–1.78%** |
| Columbia Pipelines Holding Co. LLC, <br> 6.06%, 08/15/2026<sup>(b)</sup> <br>|  | 349000 | &nbsp;&nbsp; 351368 |
| Energy Transfer L.P., | Energy Transfer L.P., |  |  |
| 6.05%, 12/01/2026 |  | 2004000 | &nbsp;&nbsp; 2030960 |
| 5.50%, 06/01/2027 |  | 5617000 | &nbsp;&nbsp; 5703569 |
| 6.10%, 12/01/2028 |  | 701000 | &nbsp;&nbsp; 738066 |
| 4.55%, 01/15/2031 |  | 683000 | &nbsp;&nbsp; 689692 |
| 6.50%, 02/15/2056<sup>(e)</sup> <br>|  | 2975000 | &nbsp;&nbsp; 3007921 |
| Series H, 6.50%<sup>(e)(f)</sup> <br>|  | 175000 | &nbsp;&nbsp; 175897 |
| Enterprise Products Operating LLC, <br> 4.30%, 06/20/2028<br>|  | 3892000 | &nbsp;&nbsp; 3934625 |
| Kinder Morgan, Inc., | Kinder Morgan, Inc., |  |  |
| 5.10%, 08/01/2029 |  | 1575000 | &nbsp;&nbsp; 1633536 |
| 5.15%, 06/01/2030 |  | 344000 | &nbsp;&nbsp; 358078 |
| MPLX L.P., 4.80%, 02/15/2031<sup>(c)</sup> <br>|  | 712000 | &nbsp;&nbsp; 727045 |
| ONEOK, Inc., 5.55%, 11/01/2026 |  | 930000 | &nbsp;&nbsp; 938458 |
| Plains All American Pipeline L.P., <br> Series B, 8.02% (3 mo. Term <br> SOFR + 4.37%)<sup>(d)(f)</sup> <br>|  | 4776000 | &nbsp;&nbsp; 4775467 |
| South Bow USA Infrastructure <br> Holdings LLC (Canada), | South Bow USA Infrastructure <br> Holdings LLC (Canada), |  |  |
| 4.91%, 09/01/2027 |  | 2860000 | &nbsp;&nbsp; 2891867 |
| 5.03%, 10/01/2029 |  | 689000 | &nbsp;&nbsp; 704659 |
| Southern Co. Gas Capital Corp., <br> Series A, 4.05%, 09/15/2028<br>|  | 854000 | &nbsp;&nbsp; 857103 |
| Tennessee Gas Pipeline Co. LLC, <br> 7.00%, 10/15/2028<br>|  | 4232000 | &nbsp;&nbsp; 4553837 |
| Western Midstream Operating L.P., <br> 4.80%, 03/01/2031<br>|  | 565000 | &nbsp;&nbsp; 569979 |
| Williams Cos., Inc. (The), | Williams Cos., Inc. (The), |  |  |
| 5.30%, 08/15/2028 |  | 1940000 | &nbsp;&nbsp; 2003324 |
| 4.80%, 11/15/2029 |  | 862000 | &nbsp;&nbsp; 884179 |
|  |  |  | &nbsp;&nbsp; 37529630 |
| **Packaged Foods & Meats–0.56%** | **Packaged Foods & Meats–0.56%** | **Packaged Foods & Meats–0.56%** | **Packaged Foods & Meats–0.56%** |
| Campbell's Co. (The), 5.20%, <br> 03/19/2027<br>|  | 499000 | &nbsp;&nbsp; 505586 |
| General Mills, Inc., 5.50%, <br> 10/17/2028<sup>(c)</sup> <br>|  | 897000 | &nbsp;&nbsp; 930685 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Packaged Foods & Meats–(continued)** | **Packaged Foods & Meats–(continued)** | **Packaged Foods & Meats–(continued)** | **Packaged Foods & Meats–(continued)** |
| Mars, Inc., | Mars, Inc., |  |  |
| 4.45%, 03/01/2027<sup>(b)(c)</sup> <br>|  | $4496000 | &nbsp;&nbsp; $4533776 |
| 4.60%, 03/01/2028<sup>(b)(c)</sup> <br>|  | 4851000 | &nbsp;&nbsp; 4923312 |
| McCormick & Co., Inc., 4.15%, <br> 02/15/2029<br>|  | 828000 | &nbsp;&nbsp; 833658 |
|  |  |  | &nbsp;&nbsp; 11727017 |
| **Paper & Plastic Packaging Products & Materials–0.12%** | **Paper & Plastic Packaging Products & Materials–0.12%** | **Paper & Plastic Packaging Products & Materials–0.12%** | **Paper & Plastic Packaging Products & Materials–0.12%** |
| Berry Global, Inc., 4.88%, <br> 07/15/2026<sup>(b)</sup> <br>|  | 611000 | &nbsp;&nbsp; 611128 |
| Sealed Air Corp., 5.00%, <br> 04/15/2029<sup>(b)</sup> <br>|  | 1800000 | &nbsp;&nbsp; 1815639 |
|  |  |  | &nbsp;&nbsp; 2426767 |
| **Passenger Airlines–0.73%** | **Passenger Airlines–0.73%** | **Passenger Airlines–0.73%** | **Passenger Airlines–0.73%** |
| American Airlines Pass-Through Trust, | American Airlines Pass-Through Trust, |  |  |
| Series 2021-1, Class B, 3.95%, <br> 07/11/2030<br>|  | 788435 | &nbsp;&nbsp; 767322 |
| Series B, 5.65%, 11/11/2034 |  | 2386000 | &nbsp;&nbsp; 2449819 |
| American Airlines, Inc./AAdvantage <br> Loyalty IP Ltd., 5.50%, <br> 04/20/2026<sup>(b)</sup> <br>|  | 125000 | &nbsp;&nbsp; 125249 |
| British Airways Pass-Through Trust <br> (United Kingdom), Series 2019-1, <br> Class A, 3.35%, 06/15/2029<sup>(b)</sup> <br>|  | 139889 | &nbsp;&nbsp; 136832 |
| Delta Air Lines, Inc., | Delta Air Lines, Inc., |  |  |
| 4.95%, 07/10/2028 |  | 5168000 | &nbsp;&nbsp; 5255102 |
| 5.25%, 07/10/2030<sup>(c)</sup> <br>|  | 784000 | &nbsp;&nbsp; 808768 |
| United Airlines Holdings, Inc., | United Airlines Holdings, Inc., |  |  |
| 4.88%, 03/01/2029 |  | 4655000 | &nbsp;&nbsp; 4700215 |
| 5.38%, 03/01/2031 |  | 247000 | &nbsp;&nbsp; 252140 |
| United Airlines Pass-Through Trust, <br> Series 2020-1, Class A, 5.88%, <br> 10/15/2027<br>|  | 826389 | &nbsp;&nbsp; 846813 |
|  |  |  | &nbsp;&nbsp; 15342260 |
| **Pharmaceuticals–1.49%** | **Pharmaceuticals–1.49%** | **Pharmaceuticals–1.49%** | **Pharmaceuticals–1.49%** |
| EMD Finance LLC (Germany), | EMD Finance LLC (Germany), |  |  |
| 4.13%, 08/15/2028<sup>(b)</sup> <br>|  | 1559000 | &nbsp;&nbsp; 1566944 |
| 4.38%, 10/15/2030<sup>(b)</sup> <br>|  | 4015000 | &nbsp;&nbsp; 4051374 |
| Merck & Co., Inc., | Merck & Co., Inc., |  |  |
| 3.85%, 03/15/2029<sup>(c)</sup> <br>|  | 8146000 | &nbsp;&nbsp; 8180358 |
| 4.29% (SOFR + 0.57%), <br> 03/15/2029<sup>(d)</sup> <br>|  | 1817000 | &nbsp;&nbsp; 1822830 |
| 4.15%, 03/15/2031<sup>(c)</sup> <br>|  | 1023000 | &nbsp;&nbsp; 1030194 |
| Novartis Capital Corp., 3.90%, <br> 11/05/2028<br>|  | 3803000 | &nbsp;&nbsp; 3822881 |
| Pfizer, Inc., 3.88%, 11/15/2027<sup>(c)</sup> <br>|  | 9736000 | &nbsp;&nbsp; 9786090 |
| Zoetis, Inc., 4.15%, 08/17/2028 |  | 1196000 | &nbsp;&nbsp; 1205304 |
|  |  |  | &nbsp;&nbsp; 31465975 |
| **Rail Transportation–0.27%** | **Rail Transportation–0.27%** | **Rail Transportation–0.27%** | **Rail Transportation–0.27%** |
| TTX Co., 5.50%, 09/25/2026<sup>(b)</sup> <br>|  | 5659000 | &nbsp;&nbsp; 5701521 |
| **Real Estate Development–0.07%** | **Real Estate Development–0.07%** | **Real Estate Development–0.07%** | **Real Estate Development–0.07%** |
| Essential Properties L.P., 2.95%, <br> 07/15/2031<br>|  | 1535000 | &nbsp;&nbsp; 1419382 |
| **Regional Banks–0.33%** | **Regional Banks–0.33%** | **Regional Banks–0.33%** | **Regional Banks–0.33%** |
| Santander Holdings USA, Inc., <br> 6.12%, 05/31/2027<sup>(e)</sup> <br>|  | 1535000 | &nbsp;&nbsp; 1541398 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**9**

**Invesco Short Term Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Regional Banks–(continued)** | **Regional Banks–(continued)** | **Regional Banks–(continued)** | **Regional Banks–(continued)** |
| Zions Bancorporation N.A., | Zions Bancorporation N.A., |  |  |
| 4.70%, 08/18/2028<sup>(e)</sup> <br>|  | $2029000 | &nbsp;&nbsp; $2040737 |
| 4.48%, 02/09/2029<sup>(e)</sup> <br>|  | 3307000 | &nbsp;&nbsp; 3309005 |
|  |  |  | &nbsp;&nbsp; 6891140 |
| **Reinsurance–0.41%** | **Reinsurance–0.41%** | **Reinsurance–0.41%** | **Reinsurance–0.41%** |
| Fortitude Global Funding, 4.63%, <br> 10/06/2028<sup>(b)</sup> <br>|  | 5286000 | &nbsp;&nbsp; 5305709 |
| RGA Global Funding, 4.35%, <br> 08/25/2028<sup>(b)</sup> <br>|  | 3340000 | &nbsp;&nbsp; 3359928 |
|  |  |  | &nbsp;&nbsp; 8665637 |
| **Retail REITs–0.23%** | **Retail REITs–0.23%** | **Retail REITs–0.23%** | **Retail REITs–0.23%** |
| Realty Income Corp., 3.95%, <br> 02/01/2029<br>|  | 4930000 | &nbsp;&nbsp; 4942041 |
| **Self-Storage REITs–0.27%** | **Self-Storage REITs–0.27%** | **Self-Storage REITs–0.27%** | **Self-Storage REITs–0.27%** |
| Extra Space Storage L.P., 5.70%, <br> 04/01/2028<br>|  | 462000 | &nbsp;&nbsp; 477237 |
| Public Storage Operating Co., <br> 4.39% (SOFR + 0.70%), <br> 04/16/2027<sup>(d)</sup> <br>|  | 5177000 | &nbsp;&nbsp; 5199323 |
|  |  |  | &nbsp;&nbsp; 5676560 |
| **Semiconductors–1.08%** | **Semiconductors–1.08%** | **Semiconductors–1.08%** | **Semiconductors–1.08%** |
| Broadcom, Inc., | Broadcom, Inc., |  |  |
| 5.05%, 07/12/2027 |  | 1766000 | &nbsp;&nbsp; 1795839 |
| 4.30%, 01/15/2031<sup>(c)</sup> <br>|  | 3577000 | &nbsp;&nbsp; 3609641 |
| Foundry JV Holdco LLC, | Foundry JV Holdco LLC, |  |  |
| 5.90%, 01/25/2030<sup>(b)</sup> <br>|  | 1706000 | &nbsp;&nbsp; 1801310 |
| 5.50%, 01/25/2031<sup>(b)</sup> <br>|  | 1028000 | &nbsp;&nbsp; 1073425 |
| SK hynix, Inc. (South Korea), | SK hynix, Inc. (South Korea), |  |  |
| 4.25%, 09/11/2028<sup>(b)</sup> <br>|  | 9524000 | &nbsp;&nbsp; 9606635 |
| 4.38%, 09/11/2030<sup>(b)</sup> <br>|  | 4894000 | &nbsp;&nbsp; 4967726 |
|  |  |  | &nbsp;&nbsp; 22854576 |
| **Soft Drinks & Non-alcoholic Beverages–0.28%** | **Soft Drinks & Non-alcoholic Beverages–0.28%** | **Soft Drinks & Non-alcoholic Beverages–0.28%** | **Soft Drinks & Non-alcoholic Beverages–0.28%** |
| Keurig Dr Pepper, Inc., | Keurig Dr Pepper, Inc., |  |  |
| 4.29% (SOFR + 0.58%), <br> 11/15/2026<sup>(d)</sup> <br>|  | 5690000 | &nbsp;&nbsp; 5697109 |
| 4.35%, 05/15/2028 |  | 294000 | &nbsp;&nbsp; 295830 |
|  |  |  | &nbsp;&nbsp; 5992939 |
| **Sovereign Debt–2.02%** | **Sovereign Debt–2.02%** | **Sovereign Debt–2.02%** | **Sovereign Debt–2.02%** |
| Colombia Government International <br> Bond (Colombia), | Colombia Government International <br> Bond (Colombia), |  |  |
| 5.38%, 01/21/2029 |  | 9262000 | &nbsp;&nbsp; 9248107 |
| 6.13%, 01/21/2031 |  | 1530000 | &nbsp;&nbsp; 1530229 |
| Egyptian Financial Co. for Sovereign <br> Taskeek (The) (Egypt), 6.38%, <br> 04/07/2029<sup>(b)</sup> <br>|  | 1527000 | &nbsp;&nbsp; 1545309 |
| Indonesia Government International <br> Bond (Indonesia), 4.40%, <br> 03/10/2029<br>|  | 9538000 | &nbsp;&nbsp; 9622200 |
| Kuwait International Government Bond <br> (Kuwait), | Kuwait International Government Bond <br> (Kuwait), |  |  |
| 4.02%, 10/09/2028<sup>(b)</sup> <br>|  | 14647000 | &nbsp;&nbsp; 14729759 |
| 4.14%, 10/09/2030<sup>(b)</sup> <br>|  | 1953000 | &nbsp;&nbsp; 1962548 |
| Romanian Government International <br> Bond (Romania), 5.88%, <br> 01/30/2029<sup>(b)</sup> <br>|  | 3794000 | &nbsp;&nbsp; 3943148 |
|  |  |  | &nbsp;&nbsp; 42581300 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Specialized Consumer Services–0.05%** | **Specialized Consumer Services–0.05%** | **Specialized Consumer Services–0.05%** | **Specialized Consumer Services–0.05%** |
| Rentokil Terminix Funding LLC, <br> 5.00%, 04/28/2030<sup>(b)</sup> <br>|  | $988000 | &nbsp;&nbsp; $1011946 |
| **Specialty Chemicals–0.30%** | **Specialty Chemicals–0.30%** | **Specialty Chemicals–0.30%** | **Specialty Chemicals–0.30%** |
| OCP S.A. (Morocco), 6.10%, <br> 04/30/2030<sup>(b)</sup> <br>|  | 1149000 | &nbsp;&nbsp; 1202082 |
| Sherwin-Williams Co. (The), 4.30%, <br> 08/15/2028<br>|  | 5083000 | &nbsp;&nbsp; 5130520 |
|  |  |  | &nbsp;&nbsp; 6332602 |
| **Steel–0.27%** | **Steel–0.27%** | **Steel–0.27%** | **Steel–0.27%** |
| ArcelorMittal S.A. (Luxembourg), <br> 6.55%, 11/29/2027<br>|  | 1383000 | &nbsp;&nbsp; 1438548 |
| Cleveland-Cliffs, Inc., 6.88%, <br> 11/01/2029<sup>(b)</sup> <br>|  | 2750000 | &nbsp;&nbsp; 2834714 |
| POSCO Holdings, Inc. (South Korea), <br> 5.13%, 05/07/2030<sup>(b)</sup> <br>|  | 1415000 | &nbsp;&nbsp; 1469010 |
|  |  |  | &nbsp;&nbsp; 5742272 |
| **Systems Software–0.69%** | **Systems Software–0.69%** | **Systems Software–0.69%** | **Systems Software–0.69%** |
| CrowdStrike Holdings, Inc., 3.00%, <br> 02/15/2029<br>|  | 2700000 | &nbsp;&nbsp; 2566630 |
| Oracle Corp., | Oracle Corp., |  |  |
| 4.55%, 02/04/2029 |  | 5167000 | &nbsp;&nbsp; 5177966 |
| 4.81% (SOFR + 1.11%), <br> 02/04/2029<sup>(d)</sup> <br>|  | 6075000 | &nbsp;&nbsp; 6068815 |
| 4.45%, 09/26/2030<sup>(c)</sup> <br>|  | 753000 | &nbsp;&nbsp; 738738 |
|  |  |  | &nbsp;&nbsp; 14552149 |
| **Tobacco–0.43%** | **Tobacco–0.43%** | **Tobacco–0.43%** | **Tobacco–0.43%** |
| Altria Group, Inc., 4.88%, <br> 02/04/2028<br>|  | 1360000 | &nbsp;&nbsp; 1384978 |
| Philip Morris International, Inc., | Philip Morris International, Inc., |  |  |
| 4.75%, 02/12/2027 |  | 2175000 | &nbsp;&nbsp; 2195352 |
| 4.38%, 11/01/2027 |  | 2762000 | &nbsp;&nbsp; 2790511 |
| 5.13%, 11/17/2027 |  | 676000 | &nbsp;&nbsp; 690418 |
| 4.13%, 04/28/2028 |  | 899000 | &nbsp;&nbsp; 905543 |
| 5.25%, 09/07/2028 |  | 1040000 | &nbsp;&nbsp; 1076326 |
|  |  |  | &nbsp;&nbsp; 9043128 |
| **Trading Companies & Distributors–0.17%** | **Trading Companies & Distributors–0.17%** | **Trading Companies & Distributors–0.17%** | **Trading Companies & Distributors–0.17%** |
| Air Lease Corp., Series B, <br> 4.65%<sup>(c)(e)(f)</sup> <br>|  | 1651000 | &nbsp;&nbsp; 1650134 |
| Mitsubishi Corp. (Japan), 5.00%, <br> 07/02/2029<sup>(b)</sup> <br>|  | 1793000 | &nbsp;&nbsp; 1853562 |
|  |  |  | &nbsp;&nbsp; 3503696 |
| **Wireless Telecommunication Services–0.03%** | **Wireless Telecommunication Services–0.03%** | **Wireless Telecommunication Services–0.03%** | **Wireless Telecommunication Services–0.03%** |
| T-Mobile USA, Inc., 4.95%, <br> 03/15/2028<br>|  | 551000 | &nbsp;&nbsp; 562493 |
| Total U.S. Dollar Denominated Bonds & Notes <br> (Cost $1,337,657,725) | Total U.S. Dollar Denominated Bonds & Notes <br> (Cost $1,337,657,725) | Total U.S. Dollar Denominated Bonds & Notes <br> (Cost $1,337,657,725) | &nbsp;&nbsp; 1351311583 |
| **Asset-Backed Securities–27.43%** | **Asset-Backed Securities–27.43%** | **Asset-Backed Securities–27.43%** | **Asset-Backed Securities–27.43%** |
| AGL CLO 17 Ltd., Series 2022-17A, <br> Class AR, 4.62% (3 mo. Term <br> SOFR + 0.95%), <br> 01/21/2035<sup>(b)(d)</sup> <br>|  | 4509000 | &nbsp;&nbsp; 4510813 |
| ALA Trust, Series 2025-OANA, <br> Class B, 5.50% (1 mo. Term SOFR <br> + 1.84%), 06/15/2040<sup>(b)(d)</sup> <br>|  | 6200000 | &nbsp;&nbsp; 6241123 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**10**

**Invesco Short Term Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| Angel Oak Mortgage Trust, | Angel Oak Mortgage Trust, |  |  |
| Series 2020-1, Class A1, 2.16%, <br> 12/25/2059<sup>(b)(g)</sup> <br>|  | $300790 | &nbsp;&nbsp; $295152 |
| Series 2020-3, Class A1, 1.69%, <br> 04/25/2065<sup>(b)(g)</sup> <br>|  | 1258860 | &nbsp;&nbsp; 1214524 |
| Series 2020-5, Class A1, 1.37%, <br> 05/25/2065<sup>(b)(g)</sup> <br>|  | 534918 | &nbsp;&nbsp; 519239 |
| Series 2021-3, Class A1, 1.07%, <br> 05/25/2066<sup>(b)(g)</sup> <br>|  | 2046529 | &nbsp;&nbsp; 1807354 |
| Series 2021-7, Class A1, 1.98%, <br> 10/25/2066<sup>(b)(g)</sup> <br>|  | 7964300 | &nbsp;&nbsp; 7080373 |
| Series 2022-1, Class A1, 3.88%, <br> 12/25/2066<sup>(b)</sup> <br>|  | 5124773 | &nbsp;&nbsp; 4982320 |
| Series 2023-6, Class A1, 6.50%, <br> 12/25/2067<sup>(b)</sup> <br>|  | 3356606 | &nbsp;&nbsp; 3377668 |
| Series 2024-10, Class A1, <br> 5.35%, 10/25/2069<sup>(b)</sup> <br>|  | 2797823 | &nbsp;&nbsp; 2817561 |
| Series 2024-2, Class A1, 5.99%, <br> 01/25/2069<sup>(b)</sup> <br>|  | 4436853 | &nbsp;&nbsp; 4478300 |
| Ares LIII CLO Ltd., Series 2019-53A, <br> Class A1R2, 4.76% (3 mo. Term <br> SOFR + 1.09%), <br> 10/24/2036<sup>(b)(d)</sup> <br>|  | 4025000 | &nbsp;&nbsp; 4030881 |
| Avis Budget Rental Car Funding (AESOP) <br> LLC, | Avis Budget Rental Car Funding (AESOP) <br> LLC, |  |  |
| Series 2022-5A, Class A, 6.12%, <br> 04/20/2027<sup>(b)</sup> <br>|  | 6333333 | &nbsp;&nbsp; 6346688 |
| Series 2023-1A, Class A, 5.25%, <br> 04/20/2029<sup>(b)</sup> <br>|  | 2033000 | &nbsp;&nbsp; 2083673 |
| Series 2023-2A, Class A, 5.20%, <br> 10/20/2027<sup>(b)</sup> <br>|  | 2425000 | &nbsp;&nbsp; 2436283 |
| Series 2023-4A, Class A, 5.49%, <br> 06/20/2029<sup>(b)</sup> <br>|  | 6690000 | &nbsp;&nbsp; 6893297 |
| Series 2025-3A, Class A, 4.17%, <br> 02/20/2030<sup>(b)</sup> <br>|  | 2155000 | &nbsp;&nbsp; 2167054 |
| Series 2025-4A, Class A, 4.40%, <br> 02/20/2032<sup>(b)</sup> <br>|  | 4820000 | &nbsp;&nbsp; 4869798 |
| Bain Capital Credit CLO Ltd. (Cayman <br> Islands), | Bain Capital Credit CLO Ltd. (Cayman <br> Islands), |  |  |
| Series 2019-4A, Class A1RR, <br> 4.66% (3 mo. Term SOFR + <br> 0.99%), 04/23/2035<sup>(b)(d)</sup> <br>|  | 535000 | &nbsp;&nbsp; 535374 |
| Series 2021-1A, Class AR, <br> 4.61% (3 mo. Term SOFR + <br> 0.94%), 04/18/2034<sup>(b)(d)</sup> <br>|  | 2452000 | &nbsp;&nbsp; 2453324 |
| Series 2021-3A, Class AR, <br> 4.73% (3 mo. Term SOFR + <br> 1.06%), 07/24/2034<sup>(b)(d)</sup> <br>|  | 705000 | &nbsp;&nbsp; 705809 |
| Series 2021-6A, Class A1R, <br> 4.76% (3 mo. Term SOFR + <br> 1.09%), 10/21/2034<sup>(b)(d)</sup> <br>|  | 1210000 | &nbsp;&nbsp; 1211557 |
| Banc of America Mortgage Trust, <br> Series 2004-D, Class 2A2, <br> 6.44%, 05/25/2034<sup>(g)</sup> <br>|  | 7878 | &nbsp;&nbsp; 7586 |
| Barings Equipment Finance LLC, <br> Series 2025-B, Class A3, 4.13%, <br> 10/13/2032<sup>(b)</sup> <br>|  | 2090000 | &nbsp;&nbsp; 2111969 |
| Bayview MSR Opportunity Master Fund <br> Trust, | Bayview MSR Opportunity Master Fund <br> Trust, |  |  |
| Series 2021-4, Class A8, 2.50%, <br> 10/25/2051<sup>(b)(g)</sup> <br>|  | 4110701 | &nbsp;&nbsp; 3770062 |
| Series 2021-5, Class A1, 3.00%, <br> 11/25/2051<sup>(b)(g)</sup> <br>|  | 5002505 | &nbsp;&nbsp; 4478010 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| Bear Stearns Adjustable Rate Mortgage <br> Trust, | Bear Stearns Adjustable Rate Mortgage <br> Trust, |  |  |
| Series 2005-9, Class A1, 0.76% <br> (1 yr. U.S. Treasury Yield Curve <br> Rate + 2.30%), 10/25/2035<sup>(d)</sup> <br>|  | $67391 | &nbsp;&nbsp; $65708 |
| Series 2006-1, Class A1, 0.65% <br> (1 yr. U.S. Treasury Yield Curve <br> Rate + 2.25%), 02/25/2036<sup>(d)</sup> <br>|  | 145392 | &nbsp;&nbsp; 142015 |
| Benchmark Mortgage Trust, <br> Series 2018-B1, Class XA, IO, <br> 0.52%, 01/15/2051<sup>(h)</sup> <br>|  | 16382962 | &nbsp;&nbsp; 149268 |
| Benefit Street Partners CLO XXV Ltd., <br> Series 2021-25A, Class A1R, <br> 4.67% (3 mo. Term SOFR + <br> 1.00%), 01/15/2035<sup>(b)(d)</sup> <br>|  | 5262000 | &nbsp;&nbsp; 5264331 |
| BlackRock CLO L.P., Series 2025-<br> 2A, Class A, 5.05% (3 mo. Term <br> SOFR + 1.27%), <br> 11/21/2033<sup>(b)(d)</sup> <br>|  | 3485000 | &nbsp;&nbsp; 3488241 |
| BRAVO Residential Funding Trust, <br> Series 2021-NQM2, Class A1, <br> 0.97%, 03/25/2060<sup>(b)(g)</sup> <br>|  | 256348 | &nbsp;&nbsp; 252506 |
| BSTN Commercial Mortgage Trust, <br> Series 2025-1C, Class A, 5.55%, <br> 06/15/2044<sup>(b)(g)</sup> <br>|  | 4936000 | &nbsp;&nbsp; 5186368 |
| Buckhorn Park CLO Ltd., <br> Series 2019-1A, Class ARR, <br> 4.74% (3 mo. Term SOFR + <br> 1.07%), 07/18/2034<sup>(b)(d)</sup> <br>|  | 1523000 | &nbsp;&nbsp; 1524786 |
| BX Commercial Mortgage Trust, <br> Series 2021-ACNT, Class A, <br> 4.62% (1 mo. Term SOFR + <br> 0.96%), 11/15/2038<sup>(b)(d)</sup> <br>|  | 2581069 | &nbsp;&nbsp; 2580716 |
| BX Trust, | BX Trust, |  |  |
| Series 2021-LGCY, Class A, <br> 4.28% (1 mo. Term SOFR + <br> 0.62%), 10/15/2036<sup>(b)(d)</sup> <br>|  | 25000000 | &nbsp;&nbsp; 24987370 |
| Series 2022-LBA6, Class A, <br> 4.66% (1 mo. Term SOFR + <br> 1.00%), 01/15/2039<sup>(b)(d)</sup> <br>|  | 5550000 | &nbsp;&nbsp; 5556719 |
| Series 2022-LBA6, Class B, <br> 4.96% (1 mo. Term SOFR + <br> 1.30%), 01/15/2039<sup>(b)(d)</sup> <br>|  | 3435000 | &nbsp;&nbsp; 3436951 |
| Series 2022-LBA6, Class C, <br> 5.26% (1 mo. Term SOFR + <br> 1.60%), 01/15/2039<sup>(b)(d)</sup> <br>|  | 1835000 | &nbsp;&nbsp; 1836401 |
| Series 2025-VLT6, Class A, <br> 5.10% (1 mo. Term SOFR + <br> 1.44%), 03/15/2042<sup>(b)(d)</sup> <br>|  | 4055000 | &nbsp;&nbsp; 4050454 |
| Series 2025-VLT6, Class B, <br> 5.55% (1 mo. Term SOFR + <br> 1.89%), 03/15/2042<sup>(b)(d)</sup> <br>|  | 2870000 | &nbsp;&nbsp; 2866153 |
| Series 2025-VOLT, Class A, <br> 5.36% (1 mo. Term SOFR + <br> 1.70%), 12/15/2044<sup>(b)(d)</sup> <br>|  | 7000000 | &nbsp;&nbsp; 7018880 |
| Series 2025-VOLT, Class B, <br> 5.76% (1 mo. Term SOFR + <br> 2.10%), 12/15/2044<sup>(b)(d)</sup> <br>|  | 10610000 | &nbsp;&nbsp; 10652453 |
| Series 2025-VOLT, Class C, <br> 6.01% (1 mo. Term SOFR + <br> 2.35%), 12/15/2044<sup>(b)(d)</sup> <br>|  | 3475000 | &nbsp;&nbsp; 3489710 |
| Series 2025-VOLT, Class D, <br> 6.41% (1 mo. Term SOFR + <br> 2.75%), 12/15/2044<sup>(b)(d)</sup> <br>|  | 3245000 | &nbsp;&nbsp; 3259879 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**11**

**Invesco Short Term Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| Carlyle Global Market Strategies CLO <br> Ltd., Series 2015-5A, <br> Class A1R4, 4.55% (3 mo. Term <br> SOFR + 0.88%), <br> 01/20/2032<sup>(b)(d)</sup> <br>|  | $2116956 | &nbsp;&nbsp; $2118279 |
| Carlyle US CLO Ltd., Series 2022-<br> 1A, Class A1R, 4.65% (3 mo. <br> Term SOFR + 0.98%), <br> 04/15/2035<sup>(b)(d)</sup> <br>|  | 3500590 | &nbsp;&nbsp; 3501637 |
| CarMax Auto Owner Trust, <br> Series 2022-4, Class A4, 5.70%, <br> 07/17/2028<br>|  | 11274000 | &nbsp;&nbsp; 11383286 |
| CD Mortgage Trust, Series 2017-<br> CD6, Class XA, IO, 0.87%, <br> 11/13/2050<sup>(h)</sup> <br>|  | 6351605 | &nbsp;&nbsp; 66487 |
| Cedar Funding XI CLO Ltd., <br> Series 2019-11A, Class A1R2, <br> 4.73% (3 mo. Term SOFR + <br> 1.06%), 05/29/2032<sup>(b)(d)</sup> <br>|  | 2133810 | &nbsp;&nbsp; 2136413 |
| Centersquare Issuer LLC, <br> Series 2025-3A, Class A2, <br> 5.00%, 08/25/2055<sup>(b)</sup> <br>|  | 13275000 | &nbsp;&nbsp; 12952325 |
| Chase Home Lending Mortgage Trust, | Chase Home Lending Mortgage Trust, |  |  |
| Series 2019-ATR1, Class A15, <br> 4.00%, 04/25/2049<sup>(b)(g)</sup> <br>|  | 39928 | &nbsp;&nbsp; 38844 |
| Series 2019-ATR2, Class A3, <br> 3.50%, 07/25/2049<sup>(b)(g)</sup> <br>|  | 1262805 | &nbsp;&nbsp; 1180936 |
| Chase Mortgage Finance Trust, <br> Series 2005-A2, Class 1A3, <br> 4.67%, 01/25/2036<sup>(g)</sup> <br>|  | 156121 | &nbsp;&nbsp; 145581 |
| Citigroup Commercial Mortgage <br> Trust, Series 2017-C4, Class XA, <br> IO, 0.97%, 10/12/2050<sup>(h)</sup> <br>|  | 17936299 | &nbsp;&nbsp; 220199 |
| Citigroup Mortgage Loan Trust, | Citigroup Mortgage Loan Trust, |  |  |
| Series 2004-UST1, Class A4, <br> 6.53%, 08/25/2034<sup>(g)</sup> <br>|  | 23978 | &nbsp;&nbsp; 22837 |
| Series 2006-AR1, Class 1A1, <br> 5.90% (1 yr. U.S. Treasury Yield <br> Curve Rate + 2.40%), <br> 10/25/2035<sup>(d)</sup> <br>|  | 269868 | &nbsp;&nbsp; 264115 |
| Series 2021-INV3, Class A3, <br> 2.50%, 05/25/2051<sup>(b)(g)</sup> <br>|  | 4800000 | &nbsp;&nbsp; 4123266 |
| COLT Mortgage Loan Trust, | COLT Mortgage Loan Trust, |  |  |
| Series 2021-5, Class A1, 1.73%, <br> 11/26/2066<sup>(b)(g)</sup> <br>|  | 3777233 | &nbsp;&nbsp; 3512581 |
| Series 2022-1, Class A1, 2.28%, <br> 12/27/2066<sup>(b)(g)</sup> <br>|  | 2789031 | &nbsp;&nbsp; 2616067 |
| Series 2022-2, Class A1, 3.99%, <br> 02/25/2067<sup>(b)</sup> <br>|  | 3083784 | &nbsp;&nbsp; 3006244 |
| Compass Datacenters Issuer II LLC, <br> Series 2025-2A, Class A1, <br> 4.93%, 11/25/2050<sup>(b)</sup> <br>|  | 1790000 | &nbsp;&nbsp; 1805766 |
| Countrywide Home Loans Mortgage <br> Pass-Through Trust, | Countrywide Home Loans Mortgage <br> Pass-Through Trust, |  |  |
| Series 2005-17, Class 1A8, <br> 5.50%, 09/25/2035<br>|  | 118733 | &nbsp;&nbsp; 118886 |
| Series 2005-J4, Class A7, <br> 5.50%, 11/25/2035<br>|  | 227041 | &nbsp;&nbsp; 189366 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| Credit Suisse Mortgage Capital Trust, | Credit Suisse Mortgage Capital Trust, |  |  |
| Series 2020-AFC1, Class A1, <br> 3.24%, 02/25/2050<sup>(b)(g)</sup> <br>|  | $1998342 | &nbsp;&nbsp; $1937529 |
| Series 2021-INV1, Class A4, <br> 2.50%, 07/25/2056<sup>(b)(g)</sup> <br>|  | 9590684 | &nbsp;&nbsp; 8911562 |
| Series 2021-NQM1, Class A1, <br> 0.81%, 05/25/2065<sup>(b)(g)</sup> <br>|  | 582460 | &nbsp;&nbsp; 535892 |
| Series 2021-NQM2, Class A1, <br> 1.18%, 02/25/2066<sup>(b)(g)</sup> <br>|  | 2993412 | &nbsp;&nbsp; 2726677 |
| Series 2022-ATH1, Class A1A, <br> 3.87%, 01/25/2067<sup>(b)(g)</sup> <br>|  | 3358315 | &nbsp;&nbsp; 3317215 |
| Series 2022-ATH2, Class A1, <br> 4.55%, 05/25/2067<sup>(b)(g)</sup> <br>|  | 4173791 | &nbsp;&nbsp; 4163590 |
| Domino's Pizza Master Issuer LLC, <br> Series 2025-1A, Class A2I, <br> 4.93%, 07/25/2055<sup>(b)</sup> <br>|  | 3590000 | &nbsp;&nbsp; 3662772 |
| Ellington Financial Mortgage Trust, | Ellington Financial Mortgage Trust, |  |  |
| Series 2021-1, Class A1, 0.80%, <br> 02/25/2066<sup>(b)(g)</sup> <br>|  | 819183 | &nbsp;&nbsp; 729002 |
| Series 2022-1, Class A1, 2.21%, <br> 01/25/2067<sup>(b)(g)</sup> <br>|  | 2931726 | &nbsp;&nbsp; 2664695 |
| Series 2022-3, Class A1, 5.00%, <br> 08/25/2067<sup>(b)</sup> <br>|  | 4163315 | &nbsp;&nbsp; 4153755 |
| Enterprise Fleet Financing LLC, | Enterprise Fleet Financing LLC, |  |  |
| Series 2024-2, Class A2, 5.74%, <br> 12/20/2026<sup>(b)</sup> <br>|  | 287181 | &nbsp;&nbsp; 287906 |
| Series 2024-2, Class A3, 5.61%, <br> 04/20/2028<sup>(b)</sup> <br>|  | 730000 | &nbsp;&nbsp; 741015 |
| Series 2024-4, Class A3, 4.56%, <br> 11/20/2028<sup>(b)</sup> <br>|  | 1490000 | &nbsp;&nbsp; 1507080 |
| Series 2025-4, Class A3, 4.11%, <br> 12/20/2029<sup>(b)</sup> <br>|  | 2010000 | &nbsp;&nbsp; 2027806 |
| Flagstar Mortgage Trust, | Flagstar Mortgage Trust, |  |  |
| Series 2021-11IN, Class A6, <br> 3.70%, 11/25/2051<sup>(b)(g)</sup> <br>|  | 6881131 | &nbsp;&nbsp; 6304973 |
| Series 2021-8INV, Class A6, <br> 2.50%, 09/25/2051<sup>(b)(g)</sup> <br>|  | 1455052 | &nbsp;&nbsp; 1336112 |
| Fort Greene Park CLO LLC, <br> Series 2025-2A, Class AR, <br> 4.62% (3 mo. Term SOFR + <br> 0.95%), 04/22/2034<sup>(b)(d)</sup> <br>|  | 5654000 | &nbsp;&nbsp; 5655860 |
| GCAT Trust, | GCAT Trust, |  |  |
| Series 2019-NQM3, Class A1, <br> 3.69%, 11/25/2059<sup>(b)(g)</sup> <br>|  | 697304 | &nbsp;&nbsp; 689345 |
| Series 2020-NQM2, Class A1, <br> 2.56%, 04/25/2065<sup>(b)</sup> <br>|  | 419409 | &nbsp;&nbsp; 406590 |
| Series 2024-INV1, Class 2A2, <br> 6.50%, 01/25/2054<sup>(b)(g)</sup> <br>|  | 1924400 | &nbsp;&nbsp; 1978373 |
| Series 2025-NQM2, Class A1, <br> 5.60%, 04/25/2070<sup>(b)</sup> <br>|  | 1424664 | &nbsp;&nbsp; 1442307 |
| Series 2026-NQM1, Class A1, <br> 4.79%, 12/25/2070<sup>(b)(g)</sup> <br>|  | 4600000 | &nbsp;&nbsp; 4609288 |
| GoldenTree Loan Management US <br> CLO 8 Ltd., Series 2020-8A, <br> Class ARR, 4.82% (3 mo. Term <br> SOFR + 1.15%), <br> 10/20/2034<sup>(b)(d)</sup> <br>|  | 2228000 | &nbsp;&nbsp; 2230491 |
| Golub Capital Partners CLO 53(B) <br> Ltd., Series 2021-53A, Class AR, <br> 4.65% (3 mo. Term SOFR + <br> 0.98%), 07/20/2034<sup>(b)(d)</sup> <br>|  | 6284000 | &nbsp;&nbsp; 6288688 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**12**

**Invesco Short Term Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| GS Mortgage-Backed Securities Trust, | GS Mortgage-Backed Securities Trust, |  |  |
| Series 2021-INV1, Class A6, <br> 2.50%, 12/25/2051<sup>(b)(g)</sup> <br>|  | $3781694 | &nbsp;&nbsp; $3464782 |
| Series 2025-NQM5, Class A1, <br> 5.01%, 07/25/2065<sup>(b)</sup> <br>|  | 3525060 | &nbsp;&nbsp; 3543245 |
| Series 2026-NQM1, Class A1, <br> 4.87%, 03/25/2066<sup>(b)(g)</sup> <br>|  | 1338406 | &nbsp;&nbsp; 1343288 |
| GSR Mortgage Loan Trust, <br> Series 2005-AR4, Class 6A1, <br> 5.00%, 07/25/2035<sup>(g)</sup> <br>|  | 16229 | &nbsp;&nbsp; 15756 |
| Harbor Park CLO Ltd., <br> Series 2018-1A, Class AR2, <br> 4.62% (3 mo. Term SOFR + <br> 0.95%), 01/20/2031<sup>(b)(d)</sup> <br>|  | 2230263 | &nbsp;&nbsp; 2231967 |
| IP Lending IV Ltd., Series 2022-4A, <br> Class SNR, 6.05%, <br> 04/28/2027<sup>(b)(i)</sup> <br>|  | 6557000 | &nbsp;&nbsp; 6555033 |
| IP Mortgage Trust, Series 2025-IP, <br> Class A, 5.25%, <br> 06/10/2042<sup>(b)(g)</sup> <br>|  | 3000000 | &nbsp;&nbsp; 3081266 |
| J.P. Morgan Mortgage Trust, <br> Series 2025-NQM4, Class A1, <br> 4.95%, 03/25/2066<sup>(b)(g)</sup> <br>|  | 984283 | &nbsp;&nbsp; 988632 |
| JP Morgan Mortgage Trust, <br> Series 2007-A1, Class 5A1, <br> 5.04%, 07/25/2035<sup>(g)</sup> <br>|  | 68433 | &nbsp;&nbsp; 68378 |
| JPMBB Commercial Mortgage <br> Securities Trust, Series 2015-<br> C27, Class XA, IO, 0.76%, <br> 02/15/2048<sup>(h)</sup> <br>|  | 3345127 | &nbsp;&nbsp; 262 |
| Juniper Valley Park CLO Ltd., <br> Series 2023-1A, Class ARR, <br> 4.75% (3 mo. Term SOFR + <br> 1.08%), 07/20/2036<sup>(b)(d)</sup> <br>|  | 4985000 | &nbsp;&nbsp; 4989576 |
| Lightpath Fiber Issuer LLC, <br> Series 2026-1A, Class A2, <br> 5.60%, 03/25/2056<sup>(b)</sup> <br>|  | 4200000 | &nbsp;&nbsp; 4266445 |
| Magnetite XXXI Ltd., Series 2021-<br> 31A, Class A1R, 4.67% (3 mo. <br> Term SOFR + 1.00%), <br> 07/15/2034<sup>(b)(d)</sup> <br>|  | 4760000 | &nbsp;&nbsp; 4768220 |
| Mello Mortgage Capital Acceptance <br> Trust, | Mello Mortgage Capital Acceptance <br> Trust, |  |  |
| Series 2021-INV2, Class A4, <br> 2.50%, 08/25/2051<sup>(b)(g)</sup> <br>|  | 2884726 | &nbsp;&nbsp; 2641423 |
| Series 2021-INV3, Class A4, <br> 2.50%, 10/25/2051<sup>(b)(g)</sup> <br>|  | 2879203 | &nbsp;&nbsp; 2631314 |
| Merrill Lynch Mortgage Investors <br> Trust, Series 2005-3, Class 3A, <br> 2.39%, 11/25/2035<sup>(g)</sup> <br>|  | 135937 | &nbsp;&nbsp; 130465 |
| Metronet Infrastructure Issuer LLC, <br> Series 2025-4A, Class A2, <br> 5.16%, 12/20/2055<sup>(b)</sup> <br>|  | 1520000 | &nbsp;&nbsp; 1548194 |
| MFA Trust, Series 2021-INV2, <br> Class A1, 1.91%, <br> 11/25/2056<sup>(b)(g)</sup> <br>|  | 5005310 | &nbsp;&nbsp; 4651667 |
| MILE Trust, | MILE Trust, |  |  |
| Series 2025-STNE, Class B, <br> 5.36% (1 mo. Term SOFR + <br> 1.70%), 07/15/2042<sup>(b)(d)</sup> <br>|  | 1515000 | &nbsp;&nbsp; 1518444 |
| Series 2025-STNE, Class C, <br> 5.76% (1 mo. Term SOFR + <br> 2.10%), 07/15/2042<sup>(b)(d)</sup> <br>|  | 1195000 | &nbsp;&nbsp; 1198152 |
| MMAF Equipment Finance LLC, <br> Series 2020-A, Class A3, 0.97%, <br> 04/09/2027<sup>(b)</sup> <br>|  | 726156 | &nbsp;&nbsp; 722594 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| Morgan Stanley Bank of America <br> Merrill Lynch Trust, <br> Series 2025-5C2, Class B, <br> 5.69%, 11/15/2058<sup>(g)</sup> <br>|  | $1895000 | &nbsp;&nbsp; $1959529 |
| Morgan Stanley Capital I Trust, <br> Series 2017-HR2, Class XA, IO, <br> 0.85%, 12/15/2050<sup>(h)</sup> <br>|  | 6811353 | &nbsp;&nbsp; 82250 |
| Morgan Stanley Residential Mortgage <br> Loan Trust, | Morgan Stanley Residential Mortgage <br> Loan Trust, |  |  |
| Series 2025-NQM1, Class A1, <br> 5.74%, 11/25/2069<sup>(b)(g)</sup> <br>|  | 4856321 | &nbsp;&nbsp; 4926231 |
| Series 2025-NQM8, Class A1, <br> 4.96%, 09/25/2070<sup>(b)(g)</sup> <br>|  | 2023633 | &nbsp;&nbsp; 2029292 |
| Navient Refinance Loan Trust, <br> Series 2025-A, Class A, 5.15%, <br> 02/16/2055<sup>(b)</sup> <br>|  | 2059304 | &nbsp;&nbsp; 2102664 |
| Neuberger Berman Loan Advisers <br> CLO 38 Ltd., Series 2020-38A, <br> Class AR2, 4.63% (3 mo. Term <br> SOFR + 0.96%), <br> 10/20/2036<sup>(b)(d)</sup> <br>|  | 3320000 | &nbsp;&nbsp; 3322025 |
| Neuberger Berman Loan Advisers <br> CLO 47 Ltd., Series 2022-47A, <br> Class AR, 4.76% (3 mo. Term <br> SOFR + 1.09%), <br> 04/16/2035<sup>(b)(d)</sup> <br>|  | 3660000 | &nbsp;&nbsp; 3665691 |
| New Residential Mortgage Loan Trust, | New Residential Mortgage Loan Trust, |  |  |
| Series 2019-NQM4, Class A1, <br> 2.49%, 09/25/2059<sup>(b)(g)</sup> <br>|  | 348122 | &nbsp;&nbsp; 337324 |
| Series 2020-NQM1, Class A1, <br> 2.46%, 01/26/2060<sup>(b)(g)</sup> <br>|  | 722401 | &nbsp;&nbsp; 688799 |
| Series 2022-NQM2, Class A1, <br> 3.08%, 03/27/2062<sup>(b)(g)</sup> <br>|  | 2981125 | &nbsp;&nbsp; 2871172 |
| NextGear Floorplan Master Owner <br> Trust, Series 2025-2A, Class A2, <br> 4.23%, 10/15/2030<sup>(b)</sup> <br>|  | 1340000 | &nbsp;&nbsp; 1352516 |
| Oaktree CLO Ltd., Series 2021-2A, <br> Class AR, 4.64% (3 mo. Term <br> SOFR + 0.97%), <br> 01/15/2035<sup>(b)(d)</sup> <br>|  | 5654000 | &nbsp;&nbsp; 5655510 |
| OBX Trust, | OBX Trust, |  |  |
| Series 2021-NQM4, Class A1, <br> 1.96%, 10/25/2061<sup>(b)(g)</sup> <br>|  | 4435872 | &nbsp;&nbsp; 3928928 |
| Series 2022-NQM1, Class A1, <br> 2.31%, 11/25/2061<sup>(b)(g)</sup> <br>|  | 3595785 | &nbsp;&nbsp; 3325867 |
| Series 2022-NQM7, Class A1, <br> 5.11%, 08/25/2062<sup>(b)</sup> <br>|  | 2540262 | &nbsp;&nbsp; 2540000 |
| Series 2023-NQM1, Class A1, <br> 6.12%, 11/25/2062<sup>(b)(g)</sup> <br>|  | 2356672 | &nbsp;&nbsp; 2361532 |
| Oceanview Mortgage Trust, <br> Series 2021-3, Class A5, 2.50%, <br> 07/25/2051<sup>(b)(g)</sup> <br>|  | 3347544 | &nbsp;&nbsp; 3070010 |
| Pikes Peak CLO 6, Series 2020-6A, <br> Class ARR, 4.60% (3 mo. Term <br> SOFR + 0.94%), <br> 05/18/2034<sup>(b)(d)</sup> <br>|  | 3978000 | &nbsp;&nbsp; 3977403 |
| Planet Fitness Master Issuer LLC, <br> Series 2025-1A, Class A2I, <br> 5.27%, 12/06/2055<sup>(b)</sup> <br>|  | 1300000 | &nbsp;&nbsp; 1322511 |
| PRKCM Trust, | PRKCM Trust, |  |  |
| Series 2021-AFC2, Class M1, <br> 5.34%, 08/25/2057<sup>(b)(g)</sup> <br>|  | 3892106 | &nbsp;&nbsp; 3898808 |
| Series 2023-AFC4, Class A1, <br> 7.23%, 11/25/2058<sup>(b)</sup> <br>|  | 3381510 | &nbsp;&nbsp; 3421202 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**13**

**Invesco Short Term Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| Progress Residential Trust, | Progress Residential Trust, |  |  |
| Series 2021-SFR10, Class A, <br> 2.39%, 12/17/2040<sup>(b)</sup> <br>|  | $3058619 | &nbsp;&nbsp; $2932325 |
| Series 2022-SFR5, Class A, <br> 4.45%, 06/17/2039<sup>(b)</sup> <br>|  | 8177258 | &nbsp;&nbsp; 8177381 |
| Provident Funding Mortgage Trust, <br> Series 2025-4, Class A1, 6.00%, <br> 09/25/2055<sup>(b)(g)</sup> <br>|  | 4526058 | &nbsp;&nbsp; 4608421 |
| Qdoba Funding LLC, Series 2023-<br> 1A, Class A2, 8.50%, <br> 09/14/2053<sup>(b)</sup> <br>|  | 6368040 | &nbsp;&nbsp; 6670852 |
| Rate Mortgage Trust, <br> Series 2025-J1, Class A4, <br> 6.00%, 03/25/2055<sup>(b)(g)</sup> <br>|  | 1624750 | &nbsp;&nbsp; 1657500 |
| Residential Accredit Loans, Inc. <br> Trust, Series 2006-QS13, <br> Class 1A8, 6.00%, 09/25/2036<br>|  | 2359 | &nbsp;&nbsp; 1931 |
| Residential Mortgage Loan Trust, <br> Series 2020-1, Class A1, 2.38%, <br> 01/26/2060<sup>(b)(g)</sup> <br>|  | 31174 | &nbsp;&nbsp; 31071 |
| RR 16 Ltd., Series 2021-16A, <br> Class A1R, 4.72% (3 mo. Term <br> SOFR + 1.05%), <br> 07/15/2036<sup>(b)(d)</sup> <br>|  | 3115000 | &nbsp;&nbsp; 3116075 |
| RR 17 Ltd., Series 2021-17A, <br> Class A1AR, 4.74% (3 mo. Term <br> SOFR + 1.07%), <br> 07/15/2034<sup>(b)(d)</sup> <br>|  | 8860000 | &nbsp;&nbsp; 8870889 |
| RUN Trust, Series 2022-NQM1, <br> Class A1, 4.00%, <br> 03/25/2067<sup>(b)</sup> <br>|  | 2518576 | &nbsp;&nbsp; 2517747 |
| Sequoia Mortgage Trust, | Sequoia Mortgage Trust, |  |  |
| Series 2013-3, Class A1, 2.00%, <br> 03/25/2043<sup>(g)</sup> <br>|  | 391384 | &nbsp;&nbsp; 345873 |
| Series 2013-6, Class A2, 3.00%, <br> 05/25/2043<sup>(g)</sup> <br>|  | 483467 | &nbsp;&nbsp; 451312 |
| Series 2013-7, Class A2, 3.00%, <br> 06/25/2043<sup>(g)</sup> <br>|  | 298518 | &nbsp;&nbsp; 277684 |
| Series 2025-10, Class A1, <br> 5.50%, 11/25/2055<sup>(b)(g)</sup> <br>|  | 4467170 | &nbsp;&nbsp; 4508389 |
| SHRN Trust, | SHRN Trust, |  |  |
| Series 2025-MF18, Class A, <br> 4.86% (1 mo. Term SOFR + <br> 1.20%), 10/15/2040<sup>(b)(d)</sup> <br>|  | 7045000 | &nbsp;&nbsp; 7057975 |
| Series 2025-MF18, Class B, <br> 5.11% (1 mo. Term SOFR + <br> 1.45%), 10/15/2040<sup>(b)(d)</sup> <br>|  | 1385000 | &nbsp;&nbsp; 1388320 |
| Series 2025-MF18, Class C, <br> 5.36% (1 mo. Term SOFR + <br> 1.70%), 10/15/2040<sup>(b)(d)</sup> <br>|  | 590000 | &nbsp;&nbsp; 591379 |
| Signal Peak CLO 1 Ltd., <br> Series 2014-1A, Class AR4, <br> 4.75% (3 mo. Term SOFR + <br> 1.08%), 04/17/2034<sup>(b)(d)</sup> <br>|  | 4931000 | &nbsp;&nbsp; 4938318 |
| Sonic Capital LLC, Series 2021-1A, <br> Class A2I, 2.19%, <br> 08/20/2051<sup>(b)</sup> <br>|  | 4406392 | &nbsp;&nbsp; 4148017 |
| Starwood Mortgage Residential Trust, | Starwood Mortgage Residential Trust, |  |  |
| Series 2020-1, Class A1, 2.28%, <br> 02/25/2050<sup>(b)(g)</sup> <br>|  | 59804 | &nbsp;&nbsp; 57944 |
| Series 2020-INV1, Class A1, <br> 1.03%, 11/25/2055<sup>(b)(g)</sup> <br>|  | 421506 | &nbsp;&nbsp; 405835 |
| Series 2022-1, Class A1, 2.45%, <br> 12/25/2066<sup>(b)(g)</sup> <br>|  | 3692214 | &nbsp;&nbsp; 3387306 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| Structured Asset Securities Corp. <br> Pass-Through Ctfs., <br> Series 2002-AL1, Class AIO, <br> 3.45%, 02/25/2032<sup>(g)</sup> <br>|  | $125038 | &nbsp;&nbsp; $6085 |
| Subway Funding LLC, | Subway Funding LLC, |  |  |
| Series 2024-1A, Class A2I, <br> 6.03%, 07/30/2054<sup>(b)</sup> <br>|  | 3101737 | &nbsp;&nbsp; 3138759 |
| Series 2024-3A, Class A2I, <br> 5.25%, 07/30/2054<sup>(b)</sup> <br>|  | 2952625 | &nbsp;&nbsp; 2950320 |
| Switch ABS Issuer LLC, <br> Series 2025-2A, Class A21, <br> 5.12%, 10/25/2055<sup>(b)</sup> <br>|  | 5605000 | &nbsp;&nbsp; 5654827 |
| Symphony CLO XVI Ltd., <br> Series 2015-16A, Class ARR, <br> 4.87% (3 mo. Term SOFR + <br> 1.20%), 10/15/2031<sup>(b)(d)</sup> <br>|  | 478382 | &nbsp;&nbsp; 478825 |
| Symphony CLO XX Ltd., <br> Series 2018-20A, Class AR2, <br> 4.77% (3 mo. Term SOFR + <br> 1.10%), 01/16/2032<sup>(b)(d)</sup> <br>|  | 1734924 | &nbsp;&nbsp; 1739900 |
| Symphony CLO XXI Ltd., <br> Series 2019-21A, Class AR2, <br> 4.57% (3 mo. Term SOFR + <br> 0.90%), 07/15/2032<sup>(b)(d)</sup> <br>|  | 2934326 | &nbsp;&nbsp; 2936002 |
| Synchrony Card Funding LLC, <br> Series 2024-A2, Class A, 4.93%, <br> 07/15/2030<br>|  | 1995000 | &nbsp;&nbsp; 2026033 |
| Taco Bell Funding LLC, <br> Series 2025-1A, Class A2I, <br> 4.82%, 08/25/2055<sup>(b)</sup> <br>|  | 2254350 | &nbsp;&nbsp; 2284653 |
| Textainer Marine Containers Ltd., <br> Series 2021-3A, CLass A, <br> 1.94%, 08/20/2046<sup>(b)</sup> <br>|  | 1760000 | &nbsp;&nbsp; 1610351 |
| Textainer Marine Containers VII Ltd., <br> Series 2021-2A, Class A, 2.23%, <br> 04/20/2046<sup>(b)</sup> <br>|  | 4147360 | &nbsp;&nbsp; 3947513 |
| Thayer Park, CLO Ltd., <br> Series 2017-1A, Class A1RR, <br> 4.67% (3 mo. Term SOFR + <br> 1.00%), 04/20/2034<sup>(b)(d)</sup> <br>|  | 5425000 | &nbsp;&nbsp; 5427110 |
| TierPoint Issuer LLC, Series 2025-<br> 1A, Class A2, 6.15%, <br> 04/26/2055<sup>(b)</sup> <br>|  | 4388000 | &nbsp;&nbsp; 4482915 |
| Tricon Residential Trust, <br> Series 2025-SFR1, Class A, <br> 4.76% (1 mo. Term SOFR + <br> 1.10%), 03/17/2042<sup>(b)(d)</sup> <br>|  | 3995561 | &nbsp;&nbsp; 3999117 |
| UBS Commercial Mortgage Trust, <br> Series 2017-C5, Class XA, IO, <br> 1.09%, 11/15/2050<sup>(h)</sup> <br>|  | 8234165 | &nbsp;&nbsp; 99304 |
| Urbacon DC L.P., Series 2025-1A, <br> Class A2, 4.51%, <br> 08/25/2055<sup>(b)</sup> <br>|  | 5000000 | &nbsp;&nbsp; 3722298 |
| Vantage Data Centers Issuer LLC, <br> Series 2025-2A, Class A2, <br> 5.24%, 11/15/2055<sup>(b)</sup> <br>|  | 2870000 | &nbsp;&nbsp; 2889568 |
| VDCM Commercial Mortgage Trust, | VDCM Commercial Mortgage Trust, |  |  |
| Series 2025-AZ, Class A, 5.23%, <br> 07/13/2044<sup>(b)(g)</sup> <br>|  | 5295000 | &nbsp;&nbsp; 5415766 |
| Series 2025-AZ, Class B, 5.48%, <br> 07/13/2044<sup>(b)(g)</sup> <br>|  | 1995000 | &nbsp;&nbsp; 2039930 |
| Series 2025-AZ, Class D, 6.43%, <br> 07/13/2044<sup>(b)(g)</sup> <br>|  | 3360000 | &nbsp;&nbsp; 3458254 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**14**

**Invesco Short Term Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| Verus Securitization Trust, | Verus Securitization Trust, |  |  |
| Series 2021-1, Class A1B, <br> 0.82%, 01/25/2066<sup>(b)(g)</sup> <br>|  | $1387648 | &nbsp;&nbsp; $1278261 |
| Series 2021-2, Class A1, 1.03%, <br> 02/25/2066<sup>(b)(g)</sup> <br>|  | 899350 | &nbsp;&nbsp; 832466 |
| Series 2021-7, Class A1, 2.83%, <br> 10/25/2066<sup>(b)</sup> <br>|  | 4131632 | &nbsp;&nbsp; 3883708 |
| Series 2021-R1, Class A1, <br> 0.82%, 10/25/2063<sup>(b)(g)</sup> <br>|  | 503567 | &nbsp;&nbsp; 489972 |
| Series 2022-1, Class A1, 3.72%, <br> 01/25/2067<sup>(b)</sup> <br>|  | 2850183 | &nbsp;&nbsp; 2748372 |
| Series 2024-7, Class A1, 5.10%, <br> 09/25/2069<sup>(b)(g)</sup> <br>|  | 1433297 | &nbsp;&nbsp; 1440003 |
| Visio Trust, Series 2020-1R, <br> Class A1, 1.31%, 11/25/2055<sup>(b)</sup> <br>|  | 395971 | &nbsp;&nbsp; 385671 |
| Voya CLO Ltd., Series 2021-1A, <br> Class AR, 4.67% (3 mo. Term <br> SOFR + 1.00%), <br> 07/15/2034<sup>(b)(d)</sup> <br>|  | 9195000 | &nbsp;&nbsp; 9196352 |
| WaMu Mortgage Pass-Through Ctfs. <br> Trust, | WaMu Mortgage Pass-Through Ctfs. <br> Trust, |  |  |
| Series 2003-AR10, Class A7, <br> 5.67%, 10/25/2033<sup>(g)</sup> <br>|  | 52461 | &nbsp;&nbsp; 50848 |
| Series 2005-AR14, Class 1A4, <br> 4.92%, 12/25/2035<sup>(g)</sup> <br>|  | 24963 | &nbsp;&nbsp; 23660 |
| Series 2005-AR16, Class 1A1, <br> 4.30%, 12/25/2035<sup>(g)</sup> <br>|  | 102895 | &nbsp;&nbsp; 95104 |
| Wells Fargo Commercial Mortgage <br> Trust, Series 2017-C42, <br> Class XA, IO, 0.82%, <br> 12/15/2050<sup>(h)</sup> <br>|  | 9715650 | &nbsp;&nbsp; 121099 |
| WEST Trust, Series 2025-ROSE, <br> Class A, 5.28%, <br> 04/10/2035<sup>(b)(g)</sup> <br>|  | 6916000 | &nbsp;&nbsp; 7091039 |
| WF Card Issuance Trust, <br> Series 2024-A1, Class A, 4.94%, <br> 02/15/2029<br>|  | 10000000 | &nbsp;&nbsp; 10117944 |
| Whetstone Park CLO Ltd., <br> Series 2021-1A, Class A1R, <br> 4.74% (3 mo. Term SOFR + <br> 1.07%), 01/20/2035<sup>(b)(d)</sup> <br>|  | 9560000 | &nbsp;&nbsp; 9576462 |
| Zaxby's Funding LLC, <br> Series 2021-1A, Class A2, <br> 3.24%, 07/30/2051<sup>(b)</sup> <br>|  | 9545225 | &nbsp;&nbsp; 9165571 |
| Zayo Issuer LLC, Series 2025-2A, <br> Class A2, 5.95%, 06/20/2055<sup>(b)</sup> <br>|  | 5200000 | &nbsp;&nbsp; 5372865 |
| Total Asset-Backed Securities <br> (Cost $587,810,230) | Total Asset-Backed Securities <br> (Cost $587,810,230) | Total Asset-Backed Securities <br> (Cost $587,810,230) | &nbsp;&nbsp; 578464177 |
| **U.S. Treasury Securities–5.07%** | **U.S. Treasury Securities–5.07%** | **U.S. Treasury Securities–5.07%** | **U.S. Treasury Securities–5.07%** |
| **U.S. Treasury Bills–0.61%** | **U.S. Treasury Bills–0.61%** | **U.S. Treasury Bills–0.61%** | **U.S. Treasury Bills–0.61%** |
| 3.53% - 4.12%, <br> 05/14/2026<sup>(j)(k)</sup> <br>|  | 12821000 | &nbsp;&nbsp; 12727797 |
| **U.S. Treasury Notes–4.46%** | **U.S. Treasury Notes–4.46%** | **U.S. Treasury Notes–4.46%** | **U.S. Treasury Notes–4.46%** |
| 3.50%, 01/31/2028 |  | 49533500 | &nbsp;&nbsp; 49632180 |
| 3.50%, 02/15/2029 |  | 7719400 | &nbsp;&nbsp; 7743825 |
| 3.75%, 01/31/2031 |  | 36325200 | &nbsp;&nbsp; 36699803 |
|  |  |  | &nbsp;&nbsp; 94075808 |
| Total U.S. Treasury Securities <br> (Cost $106,307,983) | Total U.S. Treasury Securities <br> (Cost $106,307,983) | Total U.S. Treasury Securities <br> (Cost $106,307,983) | &nbsp;&nbsp; 106803605 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Variable Rate Senior Loan Interests–1.38%**<sup>(l)(m)</sup>  | **Variable Rate Senior Loan Interests–1.38%**<sup>(l)(m)</sup>  | **Variable Rate Senior Loan Interests–1.38%**<sup>(l)(m)</sup>  | **Variable Rate Senior Loan Interests–1.38%**<sup>(l)(m)</sup>  |
| **Aerospace & Defense–0.05%** | **Aerospace & Defense–0.05%** | **Aerospace & Defense–0.05%** | **Aerospace & Defense–0.05%** |
| TransDigm, Inc., Term Loan M, <br> 6.17% (1 mo. Term SOFR + <br> 2.50%), 08/19/2032<br>|  | $1106028 | &nbsp;&nbsp; $1106952 |
| **Real Estate Development–0.16%** | **Real Estate Development–0.16%** | **Real Estate Development–0.16%** | **Real Estate Development–0.16%** |
| VCI Asset Holdings 2 LLC, Term Loan, <br> 9.50%, 02/06/2031<sup>(i)</sup> <br>|  | 3498292 | &nbsp;&nbsp; 3463309 |
| **Restaurants–0.87%** | **Restaurants–0.87%** | **Restaurants–0.87%** | **Restaurants–0.87%** |
| Raising Cane's Restaurants LLC, | Raising Cane's Restaurants LLC, |  |  |
| Term Loan B, 5.67% (1 mo. Term <br> SOFR + 2.00%), 09/10/2031<br>|  | 6609534 | &nbsp;&nbsp; 6613665 |
| Term Loan, 5.67% (1 mo. Term <br> SOFR + 2.00%), 11/03/2032<br>|  | 11780000 | &nbsp;&nbsp; 11780000 |
|  |  |  | &nbsp;&nbsp; 18393665 |
| **Wireless Telecommunication Services–0.30%** | **Wireless Telecommunication Services–0.30%** | **Wireless Telecommunication Services–0.30%** | **Wireless Telecommunication Services–0.30%** |
| X Corp., | X Corp., |  |  |
| Term Loan B, 9.50%, <br> 10/27/2029<br>|  | 5000000 | &nbsp;&nbsp; 5253750 |
| Term Loan B , 10.45% (6 mo. <br> SOFR + 6.75%), 10/27/2029<br>|  | 984733 | &nbsp;&nbsp; 988529 |
|  |  |  | &nbsp;&nbsp; 6242279 |
| Total Variable Rate Senior Loan Interests <br> (Cost $28,988,146) | Total Variable Rate Senior Loan Interests <br> (Cost $28,988,146) | Total Variable Rate Senior Loan Interests <br> (Cost $28,988,146) | &nbsp;&nbsp; 29206205 |
|  | <br>**Shares** | <br>**Shares** |  |
| **Exchange-Traded Funds–0.93%** | **Exchange-Traded Funds–0.93%** | **Exchange-Traded Funds–0.93%** | **Exchange-Traded Funds–0.93%** |
| Invesco High Yield Systematic Bond <br> ETF<sup>(n)</sup>  | Invesco High Yield Systematic Bond <br> ETF<sup>(n)</sup>  | 195200 | &nbsp;&nbsp; 4393386 |
| Invesco Short Duration High Yield ETF<sup>(n)</sup>  | Invesco Short Duration High Yield ETF<sup>(n)</sup>  | 9000 | &nbsp;&nbsp; 231171 |
| Invesco Short Duration Total Return <br> Bond ETF<sup>(n)</sup>  | Invesco Short Duration Total Return <br> Bond ETF<sup>(n)</sup>  | 592300 | &nbsp;&nbsp; 14925960 |
| Total Exchange-Traded Funds <br> (Cost $19,525,530) | Total Exchange-Traded Funds <br> (Cost $19,525,530) | Total Exchange-Traded Funds <br> (Cost $19,525,530) | &nbsp;&nbsp; 19550517 |
| **Preferred Stocks–0.36%** | **Preferred Stocks–0.36%** | **Preferred Stocks–0.36%** | **Preferred Stocks–0.36%** |
| **Diversified Financial Services–0.29%** | **Diversified Financial Services–0.29%** | **Diversified Financial Services–0.29%** | **Diversified Financial Services–0.29%** |
| Apollo Global Management, Inc., 7.63%, <br> Pfd.<sup>(e)</sup>  | Apollo Global Management, Inc., 7.63%, <br> Pfd.<sup>(e)</sup>  | 239775 | &nbsp;&nbsp; 6157422 |
| **Systems Software–0.07%** | **Systems Software–0.07%** | **Systems Software–0.07%** | **Systems Software–0.07%** |
| Oracle Corp., 6.50%, Class D, Conv. <br> Pfd. | Oracle Corp., 6.50%, Class D, Conv. <br> Pfd. | 30257 | &nbsp;&nbsp; 1391520 |
| Total Preferred Stocks (Cost $7,507,225) | Total Preferred Stocks (Cost $7,507,225) | Total Preferred Stocks (Cost $7,507,225) | &nbsp;&nbsp; 7548942 |
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** |  |
| **U.S. Government Sponsored Agency Mortgage-Backed** <br> **Securities–0.36%** | **U.S. Government Sponsored Agency Mortgage-Backed** <br> **Securities–0.36%** | **U.S. Government Sponsored Agency Mortgage-Backed** <br> **Securities–0.36%** | **U.S. Government Sponsored Agency Mortgage-Backed** <br> **Securities–0.36%** |
| **Collateralized Mortgage Obligations–0.19%** | **Collateralized Mortgage Obligations–0.19%** | **Collateralized Mortgage Obligations–0.19%** | **Collateralized Mortgage Obligations–0.19%** |
| Fannie Mae Interest STRIPS, | Fannie Mae Interest STRIPS, |  |  |
| IO, <br>7.50%, 11/25/2029<sup>(o)</sup> <br>|  | $148118 | &nbsp;&nbsp; 13192 |
| 6.50%, 02/25/2032 to <br> 07/25/2032<sup>(o)</sup> <br>|  | 119535 | &nbsp;&nbsp; 12997 |
| 6.00%, 12/25/2032 to <br> 09/25/2035<sup>(o)</sup> <br>|  | 302735 | &nbsp;&nbsp; 33489 |
| 5.50%, 11/25/2033 to <br> 06/25/2035<sup>(o)</sup> <br>|  | 264927 | &nbsp;&nbsp; 33907 |
| PO, <br>0.00%, 09/25/2032<sup>(p)</sup> <br>|  | 10140 | &nbsp;&nbsp; 9413 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**15**

**Invesco Short Term Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Collateralized Mortgage Obligations–(continued)** | **Collateralized Mortgage Obligations–(continued)** | **Collateralized Mortgage Obligations–(continued)** | **Collateralized Mortgage Obligations–(continued)** |
| Fannie Mae REMICs, | Fannie Mae REMICs, |  |  |
| IO, <br>3.00%, 11/25/2027<sup>(o)</sup> <br>|  | $92140 | &nbsp;&nbsp; $1130 |
| 4.13% (7.90% - (30 Day <br> Average SOFR + 0.11%)), <br> 11/18/2031 to <br> 12/18/2031<sup>(d)(o)</sup> <br>|  | 59204 | &nbsp;&nbsp; 5182 |
| 4.12% (7.90% - (30 Day <br> Average SOFR + 0.11%)), <br> 11/25/2031<sup>(d)(o)</sup> <br>|  | 13510 | &nbsp;&nbsp; 1332 |
| 4.17% (7.95% - (30 Day <br> Average SOFR + 0.11%)), <br> 01/25/2032 to <br> 07/25/2032<sup>(d)(o)</sup> <br>|  | 50680 | &nbsp;&nbsp; 3751 |
| 4.23% (8.00% - (30 Day <br> Average SOFR + 0.11%)), <br> 03/18/2032<sup>(d)(o)</sup> <br>|  | 26975 | &nbsp;&nbsp; 2643 |
| 4.32% (8.10% - (30 Day <br> Average SOFR + 0.11%)), <br> 03/25/2032 to <br> 04/25/2032<sup>(d)(o)</sup> <br>|  | 37922 | &nbsp;&nbsp; 3711 |
| 3.22% (7.00% - (30 Day <br> Average SOFR + 0.11%)), <br> 04/25/2032<sup>(d)(o)</sup> <br>|  | 25523 | &nbsp;&nbsp; 2015 |
| 4.02% (7.80% - (30 Day <br> Average SOFR + 0.11%)), <br> 04/25/2032<sup>(d)(o)</sup> <br>|  | 12543 | &nbsp;&nbsp; 1307 |
| 4.22% (8.00% - (30 Day <br> Average SOFR + 0.11%)), <br> 07/25/2032 to <br> 09/25/2032<sup>(d)(o)</sup> <br>|  | 76595 | &nbsp;&nbsp; 7413 |
| 4.33% (8.10% - (30 Day <br> Average SOFR + 0.11%)), <br> 12/18/2032<sup>(d)(o)</sup> <br>|  | 52830 | &nbsp;&nbsp; 4596 |
| 4.47% (8.25% - (30 Day <br> Average SOFR + 0.11%)), <br> 02/25/2033 to <br> 05/25/2033<sup>(d)(o)</sup> <br>|  | 72266 | &nbsp;&nbsp; 10393 |
| 7.00%, 04/25/2033<sup>(o)</sup> <br>|  | 336908 | &nbsp;&nbsp; 39436 |
| 2.92% (6.70% - (30 Day <br> Average SOFR + 0.11%)), <br> 02/25/2035<sup>(d)(o)</sup> <br>|  | 318442 | &nbsp;&nbsp; 25996 |
| 2.27% (6.05% - (30 Day <br> Average SOFR + 0.11%)), <br> 03/25/2035 to <br> 07/25/2038<sup>(d)(o)</sup> <br>|  | 177396 | &nbsp;&nbsp; 15061 |
| 2.97% (6.75% - (30 Day <br> Average SOFR + 0.11%)), <br> 03/25/2035 to <br> 05/25/2035<sup>(d)(o)</sup> <br>|  | 60787 | &nbsp;&nbsp; 2401 |
| 2.82% (6.60% - (30 Day <br> Average SOFR + 0.11%)), <br> 05/25/2035<sup>(d)(o)</sup> <br>|  | 63382 | &nbsp;&nbsp; 2969 |
| 3.50%, 08/25/2035<sup>(o)</sup> <br>|  | 1696677 | &nbsp;&nbsp; 165551 |
| 2.76% (6.54% - (30 Day <br> Average SOFR + 0.11%)), <br> 06/25/2037<sup>(d)(o)</sup> <br>|  | 75406 | &nbsp;&nbsp; 6080 |
| 4.00%, 04/25/2041 to <br> 08/25/2047<sup>(o)</sup> <br>|  | 441430 | &nbsp;&nbsp; 70421 |
| 2.77% (6.55% - (30 Day <br> Average SOFR + 0.11%)), <br> 10/25/2041<sup>(d)(o)</sup> <br>|  | 167906 | &nbsp;&nbsp; 12792 |
| 2.37% (6.15% - (30 Day <br> Average SOFR + 0.11%)), <br> 12/25/2042<sup>(d)(o)</sup> <br>|  | 413179 | &nbsp;&nbsp; 48876 |
| 4.50%, 02/25/2043<sup>(o)</sup> <br>|  | 99111 | &nbsp;&nbsp; 11162 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Collateralized Mortgage Obligations–(continued)** | **Collateralized Mortgage Obligations–(continued)** | **Collateralized Mortgage Obligations–(continued)** | **Collateralized Mortgage Obligations–(continued)** |
| 5.50%, 07/25/2046<sup>(o)</sup> <br>|  | $459730 | &nbsp;&nbsp; $57919 |
| 2.12% (5.90% - (30 Day <br> Average SOFR + 0.11%)), <br> 09/25/2047<sup>(d)(o)</sup> <br>|  | 3517102 | &nbsp;&nbsp; 386002 |
| 6.50%, 11/25/2029 |  | 13635 | &nbsp;&nbsp; 13876 |
| 4.78% (30 Day Average SOFR + <br> 1.11%), 04/25/2032<sup>(d)</sup> <br>|  | 16174 | &nbsp;&nbsp; 16366 |
| 4.27% (30 Day Average SOFR + <br> 0.61%), 10/18/2032<sup>(d)</sup> <br>|  | 8189 | &nbsp;&nbsp; 8198 |
| 4.18% (30 Day Average SOFR + <br> 0.51%), 11/25/2033 to <br> 03/25/2042<sup>(d)</sup> <br>|  | 52399 | &nbsp;&nbsp; 52129 |
| 5.50%, 04/25/2035 to <br> 03/25/2037<br>|  | 858447 | &nbsp;&nbsp; 893701 |
| 10.70% (24.57% - (3.67 x <br> (30 Day Average SOFR + <br> 0.11%))), 03/25/2036<sup>(d)</sup> <br>|  | 40256 | &nbsp;&nbsp; 48666 |
| 10.33% (24.20% - (3.67 x <br> (30 Day Average SOFR + <br> 0.11%))), 06/25/2036<sup>(d)</sup> <br>|  | 112947 | &nbsp;&nbsp; 135480 |
| 10.33% (24.20% - (3.67 x <br> (30 Day Average SOFR + <br> 0.11%))), 06/25/2036<sup>(d)</sup> <br>|  | 16258 | &nbsp;&nbsp; 18638 |
| 4.00%, 03/25/2041 |  | 60705 | &nbsp;&nbsp; 59017 |
| 4.23% (30 Day Average SOFR + <br> 0.56%), 02/25/2047<sup>(d)</sup> <br>|  | 32642 | &nbsp;&nbsp; 32612 |
| Freddie Mac Multifamily Structured <br> Pass-Through Ctfs., | Freddie Mac Multifamily Structured <br> Pass-Through Ctfs., |  |  |
| Series K735, Class X1, IO, <br>0.95%, 05/25/2026<sup>(h)</sup> <br>|  | 19532560 | &nbsp;&nbsp; 21898 |
| Series K093, Class X1, IO, <br>0.94%, 05/25/2029<sup>(h)</sup> <br>|  | 20408719 | &nbsp;&nbsp; 517010 |
| Freddie Mac REMICs, | Freddie Mac REMICs, |  |  |
| IO, <br>3.00%, 06/15/2027 to <br> 12/15/2027<sup>(o)</sup> <br>|  | 333030 | &nbsp;&nbsp; 4353 |
| 2.50%, 05/15/2028<sup>(o)</sup> <br>|  | 116677 | &nbsp;&nbsp; 2188 |
| 4.28% (8.05% - (30 Day <br> Average SOFR + 0.11%)), <br> 02/15/2029<sup>(d)(o)</sup> <br>|  | 44378 | &nbsp;&nbsp; 2441 |
| 3.98% (7.75% - (30 Day <br> Average SOFR + 0.11%)), <br> 06/15/2029<sup>(d)(o)</sup> <br>|  | 41227 | &nbsp;&nbsp; 2128 |
| 4.33% (8.10% - (30 Day <br> Average SOFR + 0.11%)), <br> 06/15/2029 to <br> 09/15/2029<sup>(d)(o)</sup> <br>|  | 25907 | &nbsp;&nbsp; 1488 |
| 2.93% (6.70% - (30 Day <br> Average SOFR + 0.11%)), <br> 01/15/2035<sup>(d)(o)</sup> <br>|  | 182105 | &nbsp;&nbsp; 11961 |
| 2.98% (6.75% - (30 Day <br> Average SOFR + 0.11%)), <br> 02/15/2035<sup>(d)(o)</sup> <br>|  | 35741 | &nbsp;&nbsp; 2306 |
| 2.95% (6.72% - (30 Day <br> Average SOFR + 0.11%)), <br> 05/15/2035<sup>(d)(o)</sup> <br>|  | 76707 | &nbsp;&nbsp; 4824 |
| 2.38% (6.15% - (30 Day <br> Average SOFR + 0.11%)), <br> 07/15/2035<sup>(d)(o)</sup> <br>|  | 89639 | &nbsp;&nbsp; 4633 |
| 3.23% (7.00% - (30 Day <br> Average SOFR + 0.11%)), <br> 12/15/2037<sup>(d)(o)</sup> <br>|  | 24935 | &nbsp;&nbsp; 2685 |
| 2.23% (6.00% - (30 Day <br> Average SOFR + 0.11%)), <br> 04/15/2038<sup>(d)(o)</sup> <br>|  | 22349 | &nbsp;&nbsp; 2060 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**16**

**Invesco Short Term Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Collateralized Mortgage Obligations–(continued)** | **Collateralized Mortgage Obligations–(continued)** | **Collateralized Mortgage Obligations–(continued)** | **Collateralized Mortgage Obligations–(continued)** |
| 2.30% (6.07% - (30 Day <br> Average SOFR + 0.11%)), <br> 05/15/2038<sup>(d)(o)</sup> <br>|  | $358662 | &nbsp;&nbsp; $30888 |
| 2.48% (6.25% - (30 Day <br> Average SOFR + 0.11%)), <br> 12/15/2039<sup>(d)(o)</sup> <br>|  | 65965 | &nbsp;&nbsp; 6287 |
| 2.33% (6.10% - (30 Day <br> Average SOFR + 0.11%)), <br> 01/15/2044<sup>(d)(o)</sup> <br>|  | 496030 | &nbsp;&nbsp; 52575 |
| 6.50%, 04/15/2028 to <br> 06/15/2032<br>|  | 239156 | &nbsp;&nbsp; 249154 |
| 6.00%, 01/15/2029 to <br> 04/15/2029<br>|  | 76345 | &nbsp;&nbsp; 77757 |
| 7.50%, 09/15/2029 |  | 8909 | &nbsp;&nbsp; 9153 |
| 8.00%, 03/15/2030 |  | 8269 | &nbsp;&nbsp; 8573 |
| 4.72% (30 Day Average SOFR + <br> 1.06%), 08/15/2031 to <br> 01/15/2032<sup>(d)</sup> <br>|  | 24221 | &nbsp;&nbsp; 24466 |
| 4.77% (30 Day Average SOFR + <br> 1.11%), 12/15/2031 to <br> 03/15/2032<sup>(d)</sup> <br>|  | 50115 | &nbsp;&nbsp; 50700 |
| 4.27% (30 Day Average SOFR + <br> 0.61%), 01/15/2033<sup>(d)</sup> <br>|  | 1165 | &nbsp;&nbsp; 1166 |
| 5.00%, 08/15/2035 |  | 615254 | &nbsp;&nbsp; 632744 |
| 4.00%, 06/15/2038 |  | 40400 | &nbsp;&nbsp; 39337 |
| Freddie Mac STRIPS, | Freddie Mac STRIPS, |  |  |
| IO, <br>3.00%, 12/15/2027<sup>(o)</sup> <br>|  | 123903 | &nbsp;&nbsp; 1993 |
| 3.15%, 12/15/2027<sup>(h)</sup> <br>|  | 39571 | &nbsp;&nbsp; 728 |
| 6.50%, 02/01/2028<sup>(o)</sup> <br>|  | 2331 | &nbsp;&nbsp; 97 |
| 7.00%, 09/01/2029<sup>(o)</sup> <br>|  | 33366 | &nbsp;&nbsp; 2685 |
| 7.50%, 12/15/2029<sup>(o)</sup> <br>|  | 17501 | &nbsp;&nbsp; 1576 |
| 6.00%, 12/15/2032<sup>(o)</sup> <br>|  | 17643 | &nbsp;&nbsp; 2015 |
|  |  |  | &nbsp;&nbsp; 4041689 |
| **Federal Home Loan Mortgage Corp. (FHLMC)–0.04%** | **Federal Home Loan Mortgage Corp. (FHLMC)–0.04%** | **Federal Home Loan Mortgage Corp. (FHLMC)–0.04%** | **Federal Home Loan Mortgage Corp. (FHLMC)–0.04%** |
| 8.50%, 06/01/2026 |  | 119 | &nbsp;&nbsp; 120 |
| 6.50%, 07/01/2028 to <br> 04/01/2034<br>|  | 20100 | &nbsp;&nbsp; 20868 |
| 7.00%, 08/01/2028 to <br> 03/01/2035<br>|  | 270699 | &nbsp;&nbsp; 284029 |
| 7.50%, 01/01/2032 to <br> 02/01/2032<br>|  | 117136 | &nbsp;&nbsp; 121700 |
| 5.00%, 07/01/2033 to <br> 06/01/2034<br>|  | 86171 | &nbsp;&nbsp; 87062 |
| 5.50%, 09/01/2039 |  | 275908 | &nbsp;&nbsp; 287588 |
| ARM, <br>6.01% (6 mo. Refinitiv USD IBOR <br> Consumer Cash Fallbacks + <br> 1.82%), 07/01/2036<sup>(d)</sup> <br>|  | 3038 | &nbsp;&nbsp; 3089 |
| 6.82% (1 yr. Refinitiv USD IBOR <br> Consumer Cash Fallbacks + <br> 2.29%), 02/01/2037<sup>(d)</sup> <br>|  | 1394 | &nbsp;&nbsp; 1446 |
| 6.33% (1 yr. Refinitiv USD IBOR <br> Consumer Cash Fallbacks + <br> 2.08%), 01/01/2038<sup>(d)</sup> <br>|  | 5127 | &nbsp;&nbsp; 5297 |
|  |  |  | &nbsp;&nbsp; 811199 |

---

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Federal National Mortgage Association (FNMA)–0.10%** | **Federal National Mortgage Association (FNMA)–0.10%** | **Federal National Mortgage Association (FNMA)–0.10%** |
| 7.00%, 08/01/2026 to <br> 08/01/2036<br>| $476946 | &nbsp;&nbsp; $499920 |
| 7.50%, 02/01/2027 to <br> 08/01/2033<br>| 255020 | &nbsp;&nbsp; 263120 |
| 6.50%, 12/01/2029 to <br> 10/01/2035<br>| 340022 | &nbsp;&nbsp; 353072 |
| 8.50%, 05/01/2030 to <br> 07/01/2030<br>| 27582 | &nbsp;&nbsp; 28352 |
| 6.00%, 06/01/2030 to <br> 03/01/2037<br>| 663445 | &nbsp;&nbsp; 696351 |
| 8.00%, 07/01/2032 | 24484 | &nbsp;&nbsp; 24781 |
| 5.50%, 02/01/2035 to <br> 05/01/2036<br>| 100247 | &nbsp;&nbsp; 103517 |
| ARM, <br>6.23% (1 yr. U.S. Treasury Yield <br> Curve Rate + 2.22%), <br> 11/01/2032<sup>(d)</sup> <br>| 11042 | &nbsp;&nbsp; 11323 |
| 6.17% (1 yr. U.S. Treasury Yield <br> Curve Rate + 2.21%), <br> 05/01/2035<sup>(d)</sup> <br>| 9675 | &nbsp;&nbsp; 10077 |
| 6.55% (1 yr. Refinitiv USD IBOR <br> Consumer Cash Fallbacks + <br> 1.72%), 03/01/2038<sup>(d)</sup> <br>| 3163 | &nbsp;&nbsp; 3257 |
|  |  | &nbsp;&nbsp; 1993770 |
| **Government National Mortgage Association (GNMA)–0.03%** | **Government National Mortgage Association (GNMA)–0.03%** | **Government National Mortgage Association (GNMA)–0.03%** |
| 7.50%, 03/15/2026 to <br> 11/15/2026<br>| 165 | &nbsp;&nbsp; 165 |
| 7.00%, 10/15/2026 to <br> 01/20/2030<br>| 14823 | &nbsp;&nbsp; 15084 |
| 8.50%, 07/20/2027 | 1707 | &nbsp;&nbsp; 1724 |
| 6.50%, 07/15/2028 to <br> 02/15/2034<br>| 247457 | &nbsp;&nbsp; 254185 |
| IO, <br>2.78% (6.55% - (1 mo. Term <br> SOFR + 0.11%)), <br> 04/16/2037<sup>(d)(o)</sup> <br>| 324078 | &nbsp;&nbsp; 17880 |
| 2.88% (6.65% - (1 mo. Term <br> SOFR + 0.11%)), <br> 04/16/2041<sup>(d)(o)</sup> <br>| 422099 | &nbsp;&nbsp; 28841 |
| 4.50%, 09/16/2047<sup>(o)</sup> <br>| 1195120 | &nbsp;&nbsp; 213005 |
| 2.43% (6.20% - (1 mo. Term <br> SOFR + 0.11%)), <br> 10/16/2047<sup>(d)(o)</sup> <br>| 1300222 | &nbsp;&nbsp; 170745 |
|  |  | &nbsp;&nbsp; 701629 |
| Total U.S. Government Sponsored Agency <br> Mortgage-Backed Securities <br> (Cost $10,457,635) | Total U.S. Government Sponsored Agency <br> Mortgage-Backed Securities <br> (Cost $10,457,635) | &nbsp;&nbsp; 7548287 |
| **Agency Credit Risk Transfer Notes–0.12%** | **Agency Credit Risk Transfer Notes–0.12%** | **Agency Credit Risk Transfer Notes–0.12%** |
| Fannie Mae Connecticut Avenue <br> Securities, Series 2023-R02, <br> Class 1M1, STACR<sup>®</sup>, 5.97% <br> (30 Day Average SOFR + 2.30%), <br> 01/25/2043<sup>(b)(d)</sup> <br>| 1044908 | &nbsp;&nbsp; 1071551 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**17**

**Invesco Short Term Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| Freddie Mac, | Freddie Mac, |  |  |
| Series 2022-DNA6, Class M1, <br> STACR<sup>®</sup>, 5.82% (30 Day Average <br> SOFR + 2.15%), <br> 09/25/2042<sup>(b)(d)</sup> <br>|  | $258911 | &nbsp;&nbsp; $259960 |
| Series 2023-DNA1, Class M1, <br> STACR<sup>®</sup>, 5.77% (30 Day Average <br> SOFR + 2.10%), <br> 03/25/2043<sup>(b)(d)</sup> <br>|  | 745142 | &nbsp;&nbsp; 753386 |
| Series 2025-DNA4, Class A1, <br> STACR<sup>®</sup>, 4.57% (30 Day Average <br> SOFR + 0.90%), <br> 10/25/2045<sup>(b)(d)</sup> <br>|  | 488750 | &nbsp;&nbsp; 489441 |
| Total Agency Credit Risk Transfer Notes <br> (Cost $2,537,711) | Total Agency Credit Risk Transfer Notes <br> (Cost $2,537,711) | Total Agency Credit Risk Transfer Notes <br> (Cost $2,537,711) | &nbsp;&nbsp; 2574338 |
|  | <br>**Shares** | <br>**Shares** |  |
| **Money Market Funds–0.21%** | **Money Market Funds–0.21%** | **Money Market Funds–0.21%** | **Money Market Funds–0.21%** |
| Invesco Government & Agency Portfolio, <br> Institutional Class, 3.59%<sup>(n)(q)</sup>  | Invesco Government & Agency Portfolio, <br> Institutional Class, 3.59%<sup>(n)(q)</sup>  | 1546077 | &nbsp;&nbsp; 1546077 |
| Invesco Treasury Portfolio, Institutional <br> Class, 3.56%<sup>(n)(q)</sup>  | Invesco Treasury Portfolio, Institutional <br> Class, 3.56%<sup>(n)(q)</sup>  | 2871282 | &nbsp;&nbsp; 2871282 |
| Total Money Market Funds (Cost $4,417,359) | Total Money Market Funds (Cost $4,417,359) | Total Money Market Funds (Cost $4,417,359) | &nbsp;&nbsp; 4417359 |
| TOTAL INVESTMENTS IN SECURITIES <br> (excluding investments purchased <br> with cash collateral from <br> securities on loan)-99.95% <br> (Cost $2,105,209,544)<br>|  |  | &nbsp;&nbsp; 2107425013 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; <br> **Shares** | &nbsp;&nbsp; <br> **Shares** | **Value** |
| **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–5.28%** | **Money Market Funds–5.28%** | **Money Market Funds–5.28%** |
| Invesco Private Government Fund, <br> 3.64%<sup>(n)(q)(r)</sup>  | 31197513 | &nbsp;&nbsp; $31197513 |
| Invesco Private Prime Fund, <br> 3.81%<sup>(n)(q)(r)</sup>  | 80093337 | &nbsp;&nbsp; 80117365 |
| Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $111,314,878) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $111,314,878) | &nbsp;&nbsp; 111314878 |
| TOTAL INVESTMENTS IN SECURITIES–105.23% <br> (Cost $2,216,524,422) | TOTAL INVESTMENTS IN SECURITIES–105.23% <br> (Cost $2,216,524,422) | &nbsp;&nbsp; 2218739891 |
| OTHER ASSETS LESS LIABILITIES—(5.23)% | OTHER ASSETS LESS LIABILITIES—(5.23)% | &nbsp;&nbsp; (110228921)<br>|
| NET ASSETS–100.00% | NET ASSETS–100.00% | &nbsp;&nbsp; $2108510970 |

---

Investment Abbreviations:

---

| | |
|:---|:---|
| ARM | – Adjustable Rate Mortgage |
| CLO | – Collateralized Loan Obligation |
| Conv. | – Convertible |
| Ctfs. | – Certificates |
| ETF | – Exchange-Traded Fund |
| IBOR | – Interbank Offered Rate |
| IO | – Interest Only |
| Pfd. | – Preferred |
| PO | – Principal Only |
| REIT | – Real Estate Investment Trust |
| REMICs | – Real Estate Mortgage Investment Conduits |
| SOFR | – Secured Overnight Financing Rate |
| STACR<sup>®</sup> | – Structured Agency Credit Risk |
| STRIPS | – Separately Traded Registered Interest and Principal Security |
| USD | – U.S. Dollar |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**18**

**Invesco Short Term Bond 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> Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at February 28, 2026 was $1,034,424,942, which represented 49.06% of the Fund's Net Assets. 

<sup>(c)</sup> All or a portion of this security was out on loan at February 28, 2026.

<sup>(d)</sup> Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2026.

<sup>(e)</sup> Security issued at a fixed rate for a specific period of time, after which it will convert to a variable rate.

<sup>(f)</sup> Perpetual bond with no specified maturity date.

<sup>(g)</sup> Interest rate is redetermined periodically based on the cash flows generated by the pool of assets backing the security, less any applicable fees. The rate shown is the rate in effect on February 28, 2026. 

<sup>(h)</sup> Interest only security. Principal amount shown is the notional principal and does not reflect the maturity value of the security. Interest rate is redetermined periodically based on the cash flows generated by the pool of assets backing the security, less any applicable fees. The rate shown is the rate in effect on February 28, 2026. 

<sup>(i)</sup> Security valued using significant unobservable inputs (Level 3). See Note 3.

<sup>(j)</sup> All or a portion of the value was pledged as collateral to cover margin requirements for open futures contracts. See Note 1M.

<sup>(k)</sup> Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.

<sup>(l)</sup> Variable rate senior loan interests often require prepayments from excess cash flow or permit the borrower to repay at its election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with any accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, it is anticipated that the variable rate senior loan interests will have an expected average life of three to five years. 

<sup>(m)</sup> Variable rate senior loan interests are, at present, not readily marketable, not registered under the Securities Act of 1933, as amended (the "1933 Act") and may be subject to contractual and legal restrictions on sale. Variable rate senior loan interests in the Fund's portfolio generally have variable rates which adjust to a base, such as the Secured Overnight Financing Rate ("SOFR"), on set dates, typically every 30 days, but not greater than one year, and/or have interest rates that float at margin above a widely recognized base lending rate such as the Prime Rate of a designated U.S. bank. 

<sup>(n)</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 fiscal year ended February 28, 2026. 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**February 28, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**February 28, 2026**<br>| **Dividend Income** |
| Invesco High Yield Systematic Bond ETF | $341423 | &nbsp;&nbsp; $4079551 | &nbsp;&nbsp; $- | &nbsp;&nbsp; $(27588) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $4393386 | &nbsp;&nbsp; $156581 |
| Invesco Short Duration High Yield ETF | 255199 | &nbsp;&nbsp; - | &nbsp;&nbsp; (25349) | &nbsp;&nbsp; 887 | &nbsp;&nbsp; 434 | &nbsp;&nbsp; 231171 | &nbsp;&nbsp; 14946 |
| Invesco Short Duration Total Return Bond <br> ETF<br>| 299952 | &nbsp;&nbsp; 14582020 | &nbsp;&nbsp; - | &nbsp;&nbsp; 43988 | &nbsp;&nbsp; - | &nbsp;&nbsp; 14925960 | &nbsp;&nbsp; 266642 |
| **Investments in Affiliated Money Market** <br> **Funds:**<br>|  |  |  |  |  |  |  |
| Invesco Government & Agency Portfolio, <br> Institutional Class<br>| 16391349 | &nbsp;&nbsp; 265828330 | &nbsp;&nbsp; (280673602) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 1546077 | &nbsp;&nbsp; 296837 |
| Invesco Treasury Portfolio, Institutional <br> Class<br>| 30436638 | &nbsp;&nbsp; 493681183 | &nbsp;&nbsp; (521246539) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 2871282 | &nbsp;&nbsp; 545841 |
| **Investments Purchased with Cash** <br> **Collateral from Securities on Loan:**<br>|  |  |  |  |  |  |  |
| Invesco Private Government Fund | 37482250 | &nbsp;&nbsp; 272818386 | &nbsp;&nbsp; (279103123) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 31197513 | &nbsp;&nbsp; 1,507,223\* |
| Invesco Private Prime Fund | 100147827 | &nbsp;&nbsp; 604597653 | &nbsp;&nbsp; (624628928) | &nbsp;&nbsp; - | &nbsp;&nbsp; 813 | &nbsp;&nbsp; 80117365 | &nbsp;&nbsp; 4,098,270\* |
| Total | $185354638 | &nbsp;&nbsp; $1655587123 | &nbsp;&nbsp; $(1705677541) | &nbsp;&nbsp; $17287 | &nbsp;&nbsp; $1247 | &nbsp;&nbsp; $135282754 | &nbsp;&nbsp; $6886340 |

---

\* Represents the income earned on the investment of cash collateral, which is included in securities lending income on the Statement of Operations. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any. 

<sup>(o)</sup> Interest only security. Principal amount shown is the notional principal and does not reflect the maturity value of the security.

<sup>(p)</sup> Zero coupon bond issued at a discount.

<sup>(q)</sup> The rate shown is the 7-day SEC standardized yield as of February 28, 2026.

<sup>(r)</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. See Note 1J. 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts** | **Open Futures Contracts** | **Open Futures Contracts** | **Open Futures Contracts** | **Open Futures Contracts** | **Open Futures Contracts** |
| **Long Futures Contracts** | &nbsp;&nbsp; **Number of**<br> **Contracts**<br>| &nbsp;&nbsp;&nbsp; **Expiration**<br> **Month**<br>| &nbsp;&nbsp; **Notional**<br> **Value**<br>| **Value** | &nbsp;&nbsp; **Unrealized**<br> **Appreciation**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)**<br>|
| **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** |
| U.S. Treasury 2 Year Notes | &nbsp;&nbsp;&nbsp; 5395 | June-2026 | &nbsp;&nbsp;&nbsp; $1129030198 | &nbsp;&nbsp;&nbsp; $1763249 | &nbsp;&nbsp;&nbsp; $1763249 |
| U.S. Treasury Ultra Bonds | &nbsp;&nbsp;&nbsp; 32 | June-2026 | &nbsp;&nbsp;&nbsp; 3891000 | &nbsp;&nbsp;&nbsp; 56192 | &nbsp;&nbsp;&nbsp; 56192 |
| Subtotal—Long Futures Contracts | Subtotal—Long Futures Contracts | Subtotal—Long Futures Contracts | Subtotal—Long Futures Contracts | &nbsp;&nbsp;&nbsp; 1819441 | &nbsp;&nbsp;&nbsp; 1819441 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**19**

**Invesco Short Term Bond Fund**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts—(continued)** | **Open Futures Contracts—(continued)** | **Open Futures Contracts—(continued)** | **Open Futures Contracts—(continued)** | **Open Futures Contracts—(continued)** | **Open Futures Contracts—(continued)** |
| **Short Futures Contracts** | &nbsp;&nbsp; **Number of**<br> **Contracts**<br>| &nbsp;&nbsp;&nbsp; **Expiration**<br> **Month**<br>| &nbsp;&nbsp; **Notional**<br> **Value**<br>| **Value** | &nbsp;&nbsp; **Unrealized**<br> **Appreciation**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)**<br>|
| **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** |
| U.S. Treasury 5 Year Notes | &nbsp;&nbsp;&nbsp; 2772 | June-2026 | &nbsp;&nbsp;&nbsp; $(305309813)<br>| &nbsp;&nbsp;&nbsp; $(914689)<br>| &nbsp;&nbsp;&nbsp; $(914689)<br>|
| U.S. Treasury 10 Year Notes | &nbsp;&nbsp;&nbsp; 108 | June-2026 | &nbsp;&nbsp;&nbsp; (12291750)<br>| &nbsp;&nbsp;&nbsp; (54180)<br>| &nbsp;&nbsp;&nbsp; (54180)<br>|
| U.S. Treasury 10 Year Ultra Notes | &nbsp;&nbsp;&nbsp; 446 | June-2026 | &nbsp;&nbsp;&nbsp; (52063531)<br>| &nbsp;&nbsp;&nbsp; (279495)<br>| &nbsp;&nbsp;&nbsp; (279495)<br>|
| U.S. Treasury Long Bonds | &nbsp;&nbsp;&nbsp; 211 | June-2026 | &nbsp;&nbsp;&nbsp; (24996906)<br>| &nbsp;&nbsp;&nbsp; (188289)<br>| &nbsp;&nbsp;&nbsp; (188289)<br>|
| Subtotal—Short Futures Contracts | Subtotal—Short Futures Contracts | Subtotal—Short Futures Contracts | Subtotal—Short Futures Contracts | &nbsp;&nbsp;&nbsp; (1436653)<br>| &nbsp;&nbsp;&nbsp; (1436653)<br>|
| Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | &nbsp;&nbsp;&nbsp; $382788 | &nbsp;&nbsp;&nbsp; $382788 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** |
| **Settlement** <br>**Date** | **Counterparty** | **Contract to** | **Contract to** | **Contract to** | &nbsp;&nbsp; **Unrealized** <br>**Appreciation** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)** |
| **Settlement** <br>**Date** | **Counterparty** | **Deliver** | **Receive** | **Receive** | &nbsp;&nbsp; **Unrealized** <br>**Appreciation** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)** |
| **Currency Risk** |  |  |  |  |  |
| 04/28/2026 | Morgan Stanley and Co. International PLC<br> CAD | 5000000 | USD | 3639463 | &nbsp;&nbsp;&nbsp; $(34906)<br>|

---

Abbreviations: <br> CAD – Canadian Dollar <br> USD – U.S. Dollar

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**20**

**Invesco Short Term Bond Fund**

------

**Statement of Assets and Liabilities**

*February 28, 2026*

---

| | |
|:---|:---|
| **Assets:** |  |
| Investments in unaffiliated securities, at value <br>(Cost $2,081,266,655)\*<br>| &nbsp;&nbsp; $2083457137 |
| Investments in affiliates, at value <br>(Cost $135,257,767)<br>| &nbsp;&nbsp; 135282754 |
| Other investments: |  |
| Variation margin receivable — futures contracts | &nbsp;&nbsp; 138957 |
| Cash | &nbsp;&nbsp; 60919 |
| Foreign currencies, at value (Cost $88,116) | &nbsp;&nbsp; 87796 |
| Receivable for: |  |
| Investments sold | &nbsp;&nbsp; 12061665 |
| Fund shares sold | &nbsp;&nbsp; 1138296 |
| Dividends | &nbsp;&nbsp; 153888 |
| Interest | &nbsp;&nbsp; 17038109 |
| Investments matured, at value (Cost $472,938) | &nbsp;&nbsp; 51700 |
| Principal paydowns | &nbsp;&nbsp; 5695 |
| Investment for trustee deferred compensation and <br> retirement plans<br>| &nbsp;&nbsp; 207821 |
| Other assets | &nbsp;&nbsp; 63971 |
| Total assets | &nbsp;&nbsp; 2249748708 |
| **Liabilities:** |  |
| Other investments: |  |
| Unrealized depreciation on forward foreign currency <br> contracts outstanding<br>| &nbsp;&nbsp; 34906 |
| Payable for: |  |
| Investments purchased | &nbsp;&nbsp; 26099001 |
| Dividends | &nbsp;&nbsp; 1269517 |
| Fund shares reacquired | &nbsp;&nbsp; 1521666 |
| Collateral upon return of securities loaned | &nbsp;&nbsp; 111314878 |
| Accrued fees to affiliates | &nbsp;&nbsp; 585057 |
| Accrued trustees' and officers' fees and benefits | &nbsp;&nbsp; 24543 |
| Accrued other operating expenses | &nbsp;&nbsp; 172402 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 215768 |
| Total liabilities | &nbsp;&nbsp; 141237738 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $2108510970 |

---

---

| | |
|:---|:---|
| **Net assets consist of:** |  |
| Shares of beneficial interest | &nbsp;&nbsp; $2294361214 |
| Distributable earnings (loss) | &nbsp;&nbsp; (185850244)<br>|
|  | &nbsp;&nbsp; $2108510970 |
| **Net Assets:** | **Net Assets:** |
| Class A | &nbsp;&nbsp; $1211039955 |
| Class C | &nbsp;&nbsp; $63607024 |
| Class R | &nbsp;&nbsp; $43393250 |
| Class Y | &nbsp;&nbsp; $307566264 |
| Class R5 | &nbsp;&nbsp; $827184 |
| Class R6 | &nbsp;&nbsp; $482077293 |
| **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** | **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** |
| Class A | &nbsp;&nbsp; 148495781 |
| Class C | &nbsp;&nbsp; 7798877 |
| Class R | &nbsp;&nbsp; 5310467 |
| Class Y | &nbsp;&nbsp; 37697929 |
| Class R5 | &nbsp;&nbsp; 101602 |
| Class R6 | &nbsp;&nbsp; 59039172 |
| Class A: |  |
| Net asset value per share | &nbsp;&nbsp; $8.16 |
| Maximum offering price per share <br>(Net asset value of $8.16 ÷ 97.50%)<br>| &nbsp;&nbsp; $8.37 |
| Class C: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $8.16 |
| Class R: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $8.17 |
| Class Y: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $8.16 |
| Class R5: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $8.14 |
| Class R6: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $8.17 |

---

\* At February 28, 2026, securities with an aggregate value of $108,124,808 were on loan to brokers. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**21**

**Invesco Short Term Bond Fund**

------

**Statement of Operations**

*For the year ended February 28, 2026* 

---

| | |
|:---|:---|
| **Investment income:** |  |
| Interest (net of foreign withholding taxes of $7,647) | &nbsp;&nbsp; $99676201 |
| Dividends | &nbsp;&nbsp; 456454 |
| Dividends from affiliates (includes net securities lending income of $224,100) | &nbsp;&nbsp; 1504947 |
| Total investment income | &nbsp;&nbsp; 101637602 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 6543524 |
| Administrative services fees | &nbsp;&nbsp; 289714 |
| Custodian fees | &nbsp;&nbsp; 29582 |
| Distribution fees: |  |
| Class A | &nbsp;&nbsp; 1759725 |
| Class C | &nbsp;&nbsp; 458947 |
| Class R | &nbsp;&nbsp; 213189 |
| Transfer agent fees — A, C, R and Y | &nbsp;&nbsp; 2091203 |
| Transfer agent fees — R5 | &nbsp;&nbsp; 849 |
| Transfer agent fees — R6 | &nbsp;&nbsp; 126729 |
| Trustees' and officers' fees and benefits | &nbsp;&nbsp; 34591 |
| Registration and filing fees | &nbsp;&nbsp; 161785 |
| Reports to shareholders | &nbsp;&nbsp; 171006 |
| Professional services fees | &nbsp;&nbsp; 82881 |
| Other | &nbsp;&nbsp; 36485 |
| Total expenses | &nbsp;&nbsp; 12000210 |
| Less: Fees waived, expenses reimbursed and/or expense offset arrangement(s) | &nbsp;&nbsp; (195951)<br>|
| Net expenses | &nbsp;&nbsp; 11804259 |
| Net investment income | &nbsp;&nbsp; 89833343 |
| **Realized and unrealized gain (loss) from:** |  |
| Net realized gain (loss) from: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 13887205 |
| Affiliated investment securities | &nbsp;&nbsp; 1247 |
| Foreign currencies | &nbsp;&nbsp; 7491 |
| Forward foreign currency contracts | &nbsp;&nbsp; 34733 |
| Futures contracts | &nbsp;&nbsp; (7096908)<br>|
|  | &nbsp;&nbsp; 6833768 |
| Change in net unrealized appreciation (depreciation) of: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 8176294 |
| Affiliated investment securities | &nbsp;&nbsp; 17287 |
| Foreign currencies | &nbsp;&nbsp; (310)<br>|
| Forward foreign currency contracts | &nbsp;&nbsp; (34906)<br>|
| Futures contracts | &nbsp;&nbsp; (405822)<br>|
|  | &nbsp;&nbsp; 7752543 |
| Net realized and unrealized gain | &nbsp;&nbsp; 14586311 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $104419654 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**22**

**Invesco Short Term Bond Fund**

------

**Statement of Changes in Net Assets**

*For the years ended February 28, 2026 and 2025* 

---

| | | |
|:---|:---|:---|
|  | **2026** | **2025** |
| **Operations:** |  |  |
| Net investment income | &nbsp;&nbsp; $89833343 | &nbsp;&nbsp; $92490511 |
| Net realized gain (loss) | &nbsp;&nbsp; 6833768 | &nbsp;&nbsp; (2342906)<br>|
| Change in net unrealized appreciation | &nbsp;&nbsp; 7752543 | &nbsp;&nbsp; 29794355 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 104419654 | &nbsp;&nbsp; 119941960 |
| **Distributions to shareholders from distributable earnings:** |  |  |
| Class A | &nbsp;&nbsp; (51282725)<br>| &nbsp;&nbsp; (54826268)<br>|
| Class C | &nbsp;&nbsp; (2805012)<br>| &nbsp;&nbsp; (3862338)<br>|
| Class R | &nbsp;&nbsp; (1694171)<br>| &nbsp;&nbsp; (1947753)<br>|
| Class Y | &nbsp;&nbsp; (13420842)<br>| &nbsp;&nbsp; (16250677)<br>|
| Class R5 | &nbsp;&nbsp; (38135)<br>| &nbsp;&nbsp; (42779)<br>|
| Class R6 | &nbsp;&nbsp; (20559221)<br>| &nbsp;&nbsp; (23329592)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (89800106)<br>| &nbsp;&nbsp; (100259407)<br>|
| **Return of capital:** |  |  |
| Class A | &nbsp;&nbsp; (882839)<br>| &nbsp;&nbsp; — |
| Class C | &nbsp;&nbsp; (48289)<br>| &nbsp;&nbsp; — |
| Class R | &nbsp;&nbsp; (29165)<br>| &nbsp;&nbsp; — |
| Class Y | &nbsp;&nbsp; (231042)<br>| &nbsp;&nbsp; — |
| Class R5 | &nbsp;&nbsp; (656)<br>| &nbsp;&nbsp; — |
| Class R6 | &nbsp;&nbsp; (353930)<br>| &nbsp;&nbsp; — |
| Total return of capital | &nbsp;&nbsp; (1545921)<br>| &nbsp;&nbsp; — |
| Total distributions | &nbsp;&nbsp; (91346027)<br>| &nbsp;&nbsp; (100259407)<br>|
| **Share transactions–net:** |  |  |
| Class A | &nbsp;&nbsp; 57455920 | &nbsp;&nbsp; 28743048 |
| Class C | &nbsp;&nbsp; (12827624)<br>| &nbsp;&nbsp; (18948691)<br>|
| Class R | &nbsp;&nbsp; 1036433 | &nbsp;&nbsp; (1266485)<br>|
| Class Y | &nbsp;&nbsp; (22244833)<br>| &nbsp;&nbsp; 5505943 |
| Class R5 | &nbsp;&nbsp; (200037)<br>| &nbsp;&nbsp; 8667 |
| Class R6 | &nbsp;&nbsp; 56745166 | &nbsp;&nbsp; (106667041)<br>|
| Net increase (decrease) in net assets resulting from share transactions | &nbsp;&nbsp; 79965025 | &nbsp;&nbsp; (92624559)<br>|
| Net increase (decrease) in net assets | &nbsp;&nbsp; 93038652 | &nbsp;&nbsp; (72942006)<br>|
| **Net assets:** |  |  |
| Beginning of year | &nbsp;&nbsp; 2015472318 | &nbsp;&nbsp; 2088414324 |
| End of year | &nbsp;&nbsp; $2108510970 | &nbsp;&nbsp; $2015472318 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**23**

**Invesco Short Term Bond Fund**

------

**Financial Highlights**

The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Return of** <br>**capital**<br>| **Total** <br>**distributions**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**to average** <br>**net assets**<br>| **Portfolio** <br>**turnover** <sup>(c)</sup> <br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year ended 02/28/26 | $8.10 | $0.35 | $0.07 | $0.42 | $(0.35)<br>| $(0.01)<br>| $(0.36)<br>| $8.16 | 5.25<br> %<br>| &nbsp;&nbsp; $1211040 | 0.64<br> %<br>| 0.64<br> %<br>| 4.30<br> %<br>| 177<br> %<br>|
| Year ended 02/28/25 | 8.03 | 0.37 | 0.10 | 0.47 | (0.40)<br>|  | (0.40)<br>| 8.10 | 5.97 | &nbsp;&nbsp; 1146035 | 0.65 | 0.65 | 4.55 | 125 |
| Year ended 02/29/24 | 7.98 | 0.35 | 0.07 | 0.42 | (0.37)<br>|  | (0.37)<br>| 8.03 | 5.33 | &nbsp;&nbsp; 1106368 | 0.65 | 0.65 | 4.40 | 169 |
| Year ended 02/28/23 | 8.37 | 0.23 | (0.41)<br>| (0.18)<br>| (0.21)<br>|  | (0.21)<br>| 7.98 | (2.13)<br>| &nbsp;&nbsp; 1217102 | 0.64 | 0.64 | 2.85 | 155 |
| Year ended 02/28/22 | 8.68 | 0.13 | (0.32)<br>| (0.19)<br>| (0.12)<br>|  | (0.12)<br>| 8.37 | (2.20)<br>| &nbsp;&nbsp; 1407707 | 0.62 | 0.62 | 1.49 | 141 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year ended 02/28/26 | 8.10 | 0.32 | 0.07 | 0.39 | (0.32)<br>| (0.01)<br>| (0.33)<br>| 8.16 | 4.88 | &nbsp;&nbsp; 63607 | 0.99 | 1.14 | 3.95 | 177 |
| Year ended 02/28/25 | 8.03 | 0.34 | 0.10 | 0.44 | (0.37)<br>|  | (0.37)<br>| 8.10 | 5.60 | &nbsp;&nbsp; 76000 | 1.00 | 1.15 | 4.20 | 125 |
| Year ended 02/29/24 | 7.98 | 0.32 | 0.07 | 0.39 | (0.34)<br>|  | (0.34)<br>| 8.03 | 4.96 | &nbsp;&nbsp; 94151 | 1.00 | 1.15 | 4.05 | 169 |
| Year ended 02/28/23 | 8.38 | 0.20 | (0.42)<br>| (0.22)<br>| (0.18)<br>|  | (0.18)<br>| 7.98 | (2.59)<br>| &nbsp;&nbsp; 120755 | 0.99 | 1.14 | 2.50 | 155 |
| Year ended 02/28/22 | 8.68 | 0.10 | (0.31)<br>| (0.21)<br>| (0.09)<br>|  | (0.09)<br>| 8.38 | (2.41)<br>| &nbsp;&nbsp; 183817 | 0.97 | 1.12 | 1.14 | 141 |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year ended 02/28/26 | 8.12 | 0.32 | 0.06 | 0.38 | (0.32)<br>| (0.01)<br>| (0.33)<br>| 8.17 | 4.76 | &nbsp;&nbsp; 43393 | 0.99 | 0.99 | 3.95 | 177 |
| Year ended 02/28/25 | 8.04 | 0.34 | 0.11 | 0.45 | (0.37)<br>|  | (0.37)<br>| 8.12 | 5.73 | &nbsp;&nbsp; 42093 | 1.00 | 1.00 | 4.20 | 125 |
| Year ended 02/29/24 | 8.00 | 0.32 | 0.06 | 0.38 | (0.34)<br>|  | (0.34)<br>| 8.04 | 4.83 | &nbsp;&nbsp; 42921 | 1.00 | 1.00 | 4.05 | 169 |
| Year ended 02/28/23 | 8.39 | 0.20 | (0.41)<br>| (0.21)<br>| (0.18)<br>|  | (0.18)<br>| 8.00 | (2.46)<br>| &nbsp;&nbsp; 42348 | 0.99 | 0.99 | 2.50 | 155 |
| Year ended 02/28/22 | 8.70 | 0.10 | (0.32)<br>| (0.22)<br>| (0.09)<br>|  | (0.09)<br>| 8.39 | (2.54)<br>| &nbsp;&nbsp; 45537 | 0.97 | 0.97 | 1.14 | 141 |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| Year ended 02/28/26 | 8.11 | 0.36 | 0.06 | 0.42 | (0.36)<br>| (0.01)<br>| (0.37)<br>| 8.16 | 5.28 | &nbsp;&nbsp; 307566 | 0.49 | 0.49 | 4.45 | 177 |
| Year ended 02/28/25 | 8.03 | 0.38 | 0.11 | 0.49 | (0.41)<br>|  | (0.41)<br>| 8.11 | 6.26 | &nbsp;&nbsp; 328040 | 0.50 | 0.50 | 4.70 | 125 |
| Year ended 02/29/24 | 7.98 | 0.36 | 0.07 | 0.43 | (0.38)<br>|  | (0.38)<br>| 8.03 | 5.49 | &nbsp;&nbsp; 319439 | 0.50 | 0.50 | 4.55 | 169 |
| Year ended 02/28/23 | 8.38 | 0.24 | (0.42)<br>| (0.18)<br>| (0.22)<br>|  | (0.22)<br>| 7.98 | (2.10)<br>| &nbsp;&nbsp; 339677 | 0.49 | 0.49 | 3.00 | 155 |
| Year ended 02/28/22 | 8.68 | 0.14 | (0.31)<br>| (0.17)<br>| (0.13)<br>|  | (0.13)<br>| 8.38 | (1.94)<br>| &nbsp;&nbsp; 583784 | 0.47 | 0.47 | 1.64 | 141 |
| **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** |
| Year ended 02/28/26 | 8.09 | 0.36 | 0.06 | 0.42 | (0.36)<br>| (0.01)<br>| (0.37)<br>| 8.14 | 5.31 | &nbsp;&nbsp; 827 | 0.46 | 0.46 | 4.48 | 177 |
| Year ended 02/28/25 | 8.01 | 0.38 | 0.11 | 0.49 | (0.41)<br>|  | (0.41)<br>| 8.09 | 6.29 | &nbsp;&nbsp; 1022 | 0.47 | 0.47 | 4.73 | 125 |
| Year ended 02/29/24 | 7.96 | 0.36 | 0.07 | 0.43 | (0.38)<br>|  | (0.38)<br>| 8.01 | 5.52 | &nbsp;&nbsp; 1004 | 0.47 | 0.47 | 4.58 | 169 |
| Year ended 02/28/23 | 8.36 | 0.24 | (0.42)<br>| (0.18)<br>| (0.22)<br>|  | (0.22)<br>| 7.96 | (2.08)<br>| &nbsp;&nbsp; 940 | 0.46 | 0.46 | 3.03 | 155 |
| Year ended 02/28/22 | 8.66 | 0.15 | (0.31)<br>| (0.16)<br>| (0.14)<br>|  | (0.14)<br>| 8.36 | (1.89)<br>| &nbsp;&nbsp; 705 | 0.41 | 0.41 | 1.70 | 141 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| Year ended 02/28/26 | 8.11 | 0.37 | 0.06 | 0.43 | (0.36)<br>| (0.01)<br>| (0.37)<br>| 8.17 | 5.48 | &nbsp;&nbsp; 482077 | 0.39 | 0.39 | 4.55 | 177 |
| Year ended 02/28/25 | 8.03 | 0.39 | 0.11 | 0.50 | (0.42)<br>|  | (0.42)<br>| 8.11 | 6.36 | &nbsp;&nbsp; 422282 | 0.40 | 0.40 | 4.80 | 125 |
| Year ended 02/29/24 | 7.99 | 0.37 | 0.06 | 0.43 | (0.39)<br>|  | (0.39)<br>| 8.03 | 5.46 | &nbsp;&nbsp; 524531 | 0.40 | 0.40 | 4.65 | 169 |
| Year ended 02/28/23 | 8.38 | 0.25 | (0.41)<br>| (0.16)<br>| (0.23)<br>|  | (0.23)<br>| 7.99 | (1.88)<br>| &nbsp;&nbsp; 556410 | 0.39 | 0.39 | 3.10 | 155 |
| Year ended 02/28/22 | 8.69 | 0.15 | (0.32)<br>| (0.17)<br>| (0.14)<br>|  | (0.14)<br>| 8.38 | (1.95)<br>| &nbsp;&nbsp; 598369 | 0.37 | 0.37 | 1.74 | 141 |

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<sup>(a)</sup> Calculated using average shares outstanding.

<sup>(b)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one year, if applicable. 

<sup>(c)</sup> Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**24**

**Invesco Short Term Bond Fund**

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**Notes to Financial Statements**

*February 28, 2026*

**NOTE 1—Significant Accounting Policies**

Invesco Short Term Bond Fund (the "Fund") is a series portfolio of AIM Investment Securities Funds (Invesco Investment Securities Funds) (the "Trust"). The Trust is organized as a Delaware statutory trust and is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company authorized to issue an unlimited number of shares of beneficial interest. Information presented in these financial statements pertains only to the Fund. Matters affecting the Fund or each class will be voted on exclusively by the shareholders of the Fund or each class.

The Fund's investment objective is total return, comprised of current income and capital appreciation.

The Fund currently consists of six different classes of shares: Class A, Class C, Class R, Class Y, Class R5 and Class R6. Class Y shares are available only to certain investors. Class A shares are sold with a front-end sales charge unless certain waiver criteria are met. Under certain circumstances, load waived shares may be subject to contingent deferred sales charges ("CDSC"). Class C shares are sold with a CDSC. Class R, Class Y, Class R5 and Class R6 shares are sold at net asset value. Class C shares held for eight years after purchase are eligible for automatic conversion into Class A shares of the same Fund (the "Conversion Feature"). The automatic conversion pursuant to the Conversion Feature will generally occur at the end of the month following the eighth anniversary after a purchase of Class C shares.

Class R5 shares are closed to new investors.

The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies*.

The following is a summary of the significant accounting policies followed by the Fund in the preparation of its financial statements.

**A.** **Security Valuations** – Securities, including restricted securities, are valued according to the following policy.

Fixed income securities (including convertible debt securities) generally are valued on the basis of prices provided by independent pricing services. Prices provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate (for unlisted equities), yield (for debt obligations), quality, type of issue, coupon rate (for debt obligations), maturity (for debt obligations), individual trading characteristics and other market data. Pricing services generally value debt obligations assuming orderly transactions of institutional round lot size, but a fund may hold or transact in the same securities in smaller, odd lot sizes. Odd lots often trade at lower prices than institutional round lots, and their value may be adjusted accordingly. Debt obligations are subject to interest rate and credit risks. In addition, all debt obligations involve some risk of default with respect to interest and/or principal payments.

A security listed or traded on an exchange is generally valued at its trade price or official closing price that day as of the close of the exchange where the security is principally traded, or lacking any trades or official closing price on a particular day, the security may be valued at the closing bid or ask price on that day. Securities traded in the over-the-counter market are valued based on prices furnished by independent pricing services or market makers. When such securities are valued using prices provided by an independent pricing service they may be considered fair valued. Futures contracts are valued at the daily settlement price set by an exchange on which they are principally traded. Where a final settlement price exists, exchange-traded options are valued at the final settlement price from the exchange where the option principally trades, as of the approximate official closing time of that exchange. Where a final settlement price does not exist, exchange-traded options are valued at the mean between the last bid and ask price generally from the exchange where the option principally trades.

Securities of investment companies that are not exchange-traded (e.g., open-end mutual funds) are valued using such company's end-of-business-day net asset value per share.

Deposits, other obligations of U.S. and non-U.S. banks and financial institutions are valued at their daily account value.

Foreign securities' (including foreign exchange contracts) prices are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the New York Stock Exchange ("NYSE"). If market quotations are available and reliable for foreign exchange-traded equity securities, the securities will be valued at the market quotations. Invesco Advisers, Inc. (the "Adviser" or "Invesco") may use various pricing services to obtain market quotations as well as fair value prices. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become not representative of market value in the Adviser's judgment ("unreliable"). If, between the time trading ends on a particular security and the close of the customary trading session on the NYSE, a significant event occurs that makes the closing price of the security unreliable, the Adviser may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith in accordance with Board- approved policies and related Adviser procedures ("Valuation Procedures"). Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities' prices meeting the degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, American Depositary Receipts and domestic and foreign index futures. Foreign securities may have additional risks including exchange rate changes, potential for sharply devalued currencies and high inflation, political and economic upheaval, the relative lack of issuer information, relatively low market liquidity and the potential lack of strict financial and accounting controls and standards.

Private securities will be valued using prices provided by independent pricing services or by another method that the Adviser, in its judgment, believes better reflects the security's fair value in accordance with the Valuation Procedures.

Non-traded rights and warrants shall be valued at intrinsic value if the terms of the rights and warrants are available, specifically the subscription or exercise price and the ratio. Intrinsic value is calculated as the daily market closing price of the security to be received less the subscription price, which is then adjusted by the exercise ratio. In the case of warrants, an option pricing model supplied by an independent pricing service may be used based on market data such as volatility, stock price and interest rate from the independent pricing service and strike price and exercise period from verified terms.

Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources. The mean between the last bid and ask prices may be used to value debt obligations, including corporate loans.

Securities for which market quotations are not readily available are fair valued by the Adviser in accordance with the Valuation Procedures. If a fair value price provided by a pricing service is unreliable, the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value.

The Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer's assets, general market conditions which are not specifically related to the particular issuer, such as real or perceived adverse economic conditions, changes in the general outlook for revenues or corporate earnings, changes in interest or currency rates, regional or global instability, natural or environmental disasters, widespread disease or other public health issues, war, military conflicts, acts of terrorism, economic crises, economic sanctions and tariffs, significant governmental actions or adverse investor sentiment generally and market liquidity. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

**25**

**Invesco Short Term Bond Fund**

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The price the Fund could receive upon the sale of any investment may differ from the Adviser's valuation of the investment, particularly for securities that are valued using a fair valuation technique. When fair valuation techniques are applied, the Adviser uses available information, including both observable and unobservable inputs and assumptions, to determine a methodology that will result in a valuation that the Adviser believes approximates market value. Fund securities that are fair valued may be subject to greater fluctuation in their value from one day to the next than would be the case if market quotations were used. Because of the inherent uncertainties of valuation, and the degree of subjectivity in such decisions, the Fund could realize a greater or lesser than expected gain or loss upon the sale of the investment.

**B.** **Securities Transactions and Investment Income** – Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on an accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Pay-in-kind interest income and non-cash dividend income received in the form of securities in lieu of cash are recorded at the fair value of the securities received. Paydown gains and losses on mortgage and asset-backed securities are recorded as adjustments to interest income. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date.

The Fund may periodically participate in litigation related to Fund investments. As such, the Fund may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.

Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the investment adviser.

The Fund allocates realized and unrealized capital gains and losses to a class based on the relative net assets of each class. The Fund allocates income to a class based on the relative value of the settled shares of each class.

**C.** **Country Determination** — For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted.

**D.** **Distributions** – Distributions from net investment income, if any, are declared daily and paid monthly. Distributions from net realized capital gain, if any, are generally declared and paid annually and recorded on the ex-dividend date. The Fund may elect to treat a portion of the proceeds from redemptions as distributions for federal income tax purposes.

**E.** **Federal Income Taxes –** The Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Fund's taxable earnings to shareholders. As such, the Fund will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions.

The Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual periods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid by jurisdiction, while removing certain disclosure requirements. The Fund did not pay any material income taxes, net of refunds during the period.

**F.** **Expenses –** Fees provided for under the Rule 12b-1 plan of a particular class of the Fund are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses attributable to Class R5 and Class R6 are allocated based on relative net assets of Class R5 and Class R6. Sub-accounting fees attributable to Class R5 are charged to the operations of the class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on the relative value of settled shares.

**G.** **Accounting Estimates** – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**H.** **Indemnifications** – Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**I.** **Segment Reporting** — The Fund represents a single operating segment, in accordance with ASC 280, Segment Reporting. Subject to the oversight and, when applicable, approval of the Board of Trustees, portfolio managers and senior executives at the Adviser act as the Fund's chief operating decision maker ("CODM"), assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements.

**J.** **Securities Lending** – The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily by the securities lending provider. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its sponsored agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated, unregistered investment companies that comply with Rule 2a-7 under the 1940 Act and money market funds (collectively, "affiliated money market funds") and is shown as such on the Schedule of Investments. The Fund bears the risk of loss with respect to the investment of collateral. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. When

**26**

**Invesco Short Term Bond Fund**

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loaning securities, the Fund retains certain benefits of owning the securities, including the economic equivalent of dividends or interest generated by the security. Lending securities entails a risk of loss to the Fund if, and to the extent that, the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower failed to return the securities. The securities loaned are subject to termination at the option of the borrower or the Fund. Upon termination, the borrower will return to the Fund the securities loaned and the Fund will return the collateral. Upon the failure of the borrower to return the securities, collateral may be liquidated and the securities may be purchased on the open market to replace the loaned securities. The Fund could experience delays and costs in gaining access to the collateral and the securities may lose value during the delay which could result in potential losses to the Fund. Some of these losses may be indemnified by the lending agent. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. Dividends received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, are included in *Dividends from affiliates* on the Statement of Operations. The aggregate value of securities out on loan, if any, is shown as a footnote on the Statement of Assets and Liabilities.

The Adviser serves as an affiliated securities lending agent for the Fund. The Bank of New York Mellon also serves as a securities lending agent. To the extent the Fund utilizes the Adviser as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services in a manner consistent with the federal securities laws. For the year ended February 28, 2026, the Fund paid the Adviser $590 in fees for securities lending agent services. Fees paid to the Adviser for securities lending agent services, if any, are included in *Dividends from affiliates* on the Statement of Operations.

**K.** **Foreign Currency Translations** — Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates.

The Fund may invest in foreign securities, which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Foreign taxes, if any, are recorded based on the tax regulations and rates that exist in the foreign markets in which the Fund invests and are shown in the Statement of Operations.

The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar. Currency rates in foreign countries may fluctuate for a number of reasons, including changes in interest rates, political, economic, or social instability and development, and imposition of currency controls. Currency controls in certain foreign jurisdictions may cause the Fund to experience significant delays in its ability to repatriate its assets in U.S. dollars at quoted spot rates, and it is possible that the Fund's ability to convert certain foreign currencies into U.S. dollars may be limited and may occur at discounts to quoted rates. As a result, the value of the Fund's assets and liabilities denominated in such currencies that would ultimately be realized could differ from those reported on the Statement of Assets and Liabilities. Certain foreign companies may be subject to sanctions, embargoes, or other governmental actions that may limit the ability to invest in, receive, hold, or sell the securities of such companies, all of which affect the market and/or credit risk of the investments. 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.

**L.** **Forward Foreign Currency Contracts** — The Fund may engage in foreign currency transactions either on a spot (i.e. for prompt delivery and settlement) basis, or through forward foreign currency contracts, to manage or minimize currency or exchange rate risk.

The Fund may also enter into forward foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security, or the Fund may also enter into forward foreign currency contracts that do not provide for physical exchange of the two currencies on the settlement date, but instead are settled by a single cash payment calculated as the difference between the agreed upon exchange rate and the spot rate at settlement based upon an agreed upon notional amount (non-deliverable forwards).

A forward foreign currency contract is an obligation between two parties ("Counterparties") to purchase or sell a specific currency for an agreed-upon price at a future date. The use of forward foreign currency contracts for hedging does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with forward foreign currency contracts include failure of the Counterparty to meet the terms of the contract and the value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities.

**M.** **Futures Contracts** — The Fund may enter into futures contracts to manage exposure to interest rate, equity and market price movements and/or currency risks. A futures contract is an agreement between Counterparties to purchase or sell a specified underlying security, currency or commodity (or delivery of a cash settlement price, in the case of an index future) for a fixed price at a future date. The Fund currently invests only in exchange-traded futures and they are standardized as to maturity date and underlying instrument or asset. Initial margin deposits required upon entering into futures contracts are satisfied by the segregation of specific securities or cash as collateral at the futures commission merchant (broker). During the period the futures contracts are open, changes in the value of the contracts are recognized as unrealized gains or losses by recalculating the value of the contracts on a daily basis. Subsequent or variation margin payments are received or made depending upon whether unrealized gains or losses are incurred. These amounts are reflected as receivables or payables on the Statement of Assets and Liabilities. When the contracts are closed or expire, the Fund recognizes a realized gain or loss equal to the difference between the proceeds from, or cost of, the closing transaction and the Fund's basis in the contract. The net realized gain (loss) and the change in unrealized gain (loss) on futures contracts held during the period is included on the Statement of Operations. The primary risks associated with futures contracts are market risk and the absence of a liquid secondary market. If the Fund were unable to liquidate a futures contract and/or enter into an offsetting closing transaction, the Fund would continue to be subject to market risk with respect to the value of the contracts and continue to be required to maintain the margin deposits on the futures contracts. Futures contracts have minimal Counterparty risk since the exchange's clearinghouse, as Counterparty to all exchange-traded futures, guarantees the futures against default. Risks may exceed amounts recognized in the Statement of Assets and Liabilities.

**N.** **Collateral** —To the extent the Fund has designated or segregated a security as collateral and that security is subsequently sold, it is the Fund's practice to replace such collateral no later than the next business day. This practice does not apply to securities pledged as collateral for securities lending transactions.

**O.** **Leverage Risk** — Leverage exists when the Fund can lose more than it originally invests because it purchases or sells an instrument or enters into a transaction without investing an amount equal to the full economic exposure of the instrument or transaction.

**P.** **Other Risks** - Active trading of portfolio securities may result in added expenses, a lower return and increased tax liability.

Fluctuations in the federal funds and equivalent foreign rates or other changes to monetary policy or regulatory actions may expose fixed income markets to heightened volatility, perhaps suddenly and to a significant degree, and to reduced liquidity for certain fixed income investments, particularly those with longer

**27**

**Invesco Short Term Bond Fund**

------

maturities. Such changes and resulting increased volatility may adversely impact the Fund, including its operations, universe of potential investment options, and return potential. It is difficult to predict the impact of interest rate changes on various markets. In addition, decreases in fixed income dealer market-making capacity may also potentially lead to heightened volatility and reduced liquidity in the fixed income markets. As a result, the value of the Fund's investments and share price may decline. Changes in central bank policies and other governmental actions and political events within the U.S. and abroad may also, among other things, affect investor and consumer expectations and confidence in the financial markets. This could result in higher than normal redemptions by shareholders, which could potentially increase the Fund's portfolio turnover rate and transaction costs.

**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, the Fund accrues daily and pays monthly an advisory fee to the Adviser based on the annual rate of the Fund's average daily net assets as follows:

---

| | |
|:---|:---|
| **Average Daily Net Assets** | **Rate** |
| First $500 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.350% |
| Next $500 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.325% |
| Next $1.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.300% |
| Next $2.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.290% |
| Over $5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.280% |

---

For the year ended February 28, 2026, the effective advisory fee rate incurred by the Fund was 0.32%.

Under the terms of a master sub-advisory agreement between the Adviser and each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Affiliated Sub-Adviser(s).

The Adviser has agreed, for an indefinite period, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Class A, Class C, Class R, Class Y, Class R5 and Class R6 shares to 1.40%, 1.75%, 1.75%, 1.25%, 1.25% and 1.25%, respectively, of the Fund's average daily net assets (the "boundary limits"). In determining the Adviser's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the total annual fund operating expenses after fee waiver and/or expense reimbursement to exceed the numbers reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses; and (5) expenses that the Fund has incurred but did not actually pay because of an expense offset arrangement. Invesco may amend and/or terminate these boundary limits at any time in its sole discretion and will inform the Board of Trustees of any such changes. The Adviser did not waive fees and/or reimburse expenses during the period under these boundary limits.

Further, the Adviser has contractually agreed, through at least August 31, 2027, to waive the advisory fee payable by the Fund in an amount equal to the advisory fees earned by the Adviser and/or its affiliates on underlying affiliated investments, including 100% of the net advisory fees the Adviser receives from any affiliated money market funds on investments by the Fund of uninvested cash (excluding investments of cash collateral from securities lending) in such affiliated money market funds.

For the year ended February 28, 2026, the Adviser waived advisory fees of $50,253.

The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the year ended February 28, 2026, expenses incurred under the agreement are shown in the Statement of Operations as *Administrative services fees*. Invesco has entered into a sub-administration agreement whereby State Street Bank and Trust Company ("SSB") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, SSB also serves as the Fund's custodian.

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") pursuant to which the Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to the Fund and reimburse IIS for certain expenses incurred by IIS in the course of providing such services. IIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. All fees payable by IIS to intermediaries that provide omnibus account services or sub-accounting services are charged back to the Fund, subject to certain limitations approved by the Trust's Board of Trustees. For the year ended February 28, 2026, expenses incurred under the agreement are shown in the Statement of Operations as *Transfer agent fees*.

The Trust has entered into master distribution agreements with Invesco Distributors, Inc. ("IDI") to serve as the distributor for the Class A, Class C, Class R, Class Y, Class R5 and Class R6 shares of the Fund. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Class A, Class C and Class R shares (collectively, the "Plans"). The Fund, pursuant to the Plans, reimburses IDI for its allocated share of expenses incurred up to a maximum annual rate of 0.15% of the Fund's average daily net assets of Class A shares. The Fund pursuant to the Plans, pays IDI compensation at the annual rate of 0.65% of the average daily net assets of Class C shares and 0.50% of the average daily net assets of Class R shares. The fees are accrued daily and paid monthly. Of the Plans payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such classes. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. IDI has contractually agreed, through at least June 30, 2027, to waive 12b-1 fees for Class C shares to the extent necessary to limit 12b-1 fees to 0.50% of average daily net assets. 12b-1 fees before fee waivers under this agreement are shown as *Distribution fees* in the Statement of Operations. For the year ended February 28, 2026, 12b-1 fees incurred for Class C shares were $353,036 after fee waivers of $105,911.

Front-end sales commissions and CDSC (collectively, the "sales charges") are not recorded as expenses of the Fund. Front-end sales commissions are deducted from proceeds from the sales of Fund shares prior to investment in Class A shares of the Fund. CDSC are deducted from redemption proceeds prior to remittance to the shareholder. During the year ended February 28, 2026, IDI advised the Fund that IDI retained $78,486 in front-end sales commissions from the sale of Class A shares and $107,784 and $2,226 from Class A and Class C shares, respectively, for CDSC imposed upon redemptions by shareholders.

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

**NOTE 3—Additional Valuation Information**

GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment's assigned level:

Level 1 – Prices are determined using quoted prices in an active market for identical assets.

**28**

**Invesco Short Term Bond Fund**

------

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 the Adviser's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

The following is a summary of the tiered valuation input levels, as of February 28, 2026. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| <br>**Investments in Securities** |  |  |  |  |
| U.S. Dollar Denominated Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1351311583 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1351311583 |
| Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 571909144 | &nbsp;&nbsp;&nbsp;&nbsp; 6555033 | &nbsp;&nbsp;&nbsp;&nbsp; 578464177 |
| U.S. Treasury Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 106803605 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 106803605 |
| Variable Rate Senior Loan Interests | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 25742896 | &nbsp;&nbsp;&nbsp;&nbsp; 3463309 | &nbsp;&nbsp;&nbsp;&nbsp; 29206205 |
| Exchange-Traded Funds | &nbsp;&nbsp;&nbsp;&nbsp; 19550517 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 19550517 |
| Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 7548942 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7548942 |
| U.S. Government Sponsored Agency Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7548287 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7548287 |
| Agency Credit Risk Transfer Notes | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2574338 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2574338 |
| Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp; 4417359 | &nbsp;&nbsp;&nbsp;&nbsp; 111314878 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 115732237 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp;&nbsp; 31516818 | &nbsp;&nbsp;&nbsp;&nbsp; 2177204731 | &nbsp;&nbsp;&nbsp;&nbsp; 10018342 | &nbsp;&nbsp;&nbsp;&nbsp; 2218739891 |
| **Other Investments - Assets\*** |  |  |  |  |
| Investments Matured | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 51700 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 51700 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; 1819441 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1819441 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; 1819441 | &nbsp;&nbsp;&nbsp;&nbsp; 51700 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1871141 |
| **Other Investments - Liabilities\*** |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; (1436653)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1436653)<br>|
| Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (34906)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (34906)<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; (1436653)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (34906)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1471559)<br>|
| **Total Other Investments** | &nbsp;&nbsp;&nbsp;&nbsp; 382788 | &nbsp;&nbsp;&nbsp;&nbsp; 16794 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 399582 |
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $31899606 | &nbsp;&nbsp;&nbsp;&nbsp; $2177221525 | &nbsp;&nbsp;&nbsp;&nbsp; $10018342 | &nbsp;&nbsp;&nbsp;&nbsp; $2219139473 |

---

\* Forward foreign currency contracts and futures contracts are valued at unrealized appreciation (depreciation). Investments matured is shown at value.

**NOTE 4—Derivative Investments**

The Fund may enter into an International Swaps and Derivatives Association Master Agreement ("ISDA Master Agreement") under which a fund may trade OTC derivatives. An OTC transaction entered into under an ISDA Master Agreement typically involves a collateral posting arrangement, payment netting provisions and close-out netting provisions. These netting provisions allow for reduction of credit risk through netting of contractual obligations. The enforceability of the netting provisions of the ISDA Master Agreement depends on the governing law of the ISDA Master Agreement, among other factors.

For financial reporting purposes, the Fund does not offset OTC derivative assets or liabilities that are subject to ISDA Master Agreements in the Statement of Assets and Liabilities.

**Value of Derivative Investments at Period-End**

The table below summarizes the value of the Fund's derivative investments, detailed by primary risk exposure, held as of February 28, 2026:

---

| | |
|:---|:---|
|  | **Value** |
| **Derivative Assets** | &nbsp;&nbsp;&nbsp;&nbsp; **Interest** <br>**Rate Risk**<br>|
| Unrealized appreciation on futures contracts —Exchange-Traded<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; $1819441 |
| Derivatives not subject to master netting agreements | &nbsp;&nbsp;&nbsp;&nbsp; (1819441)<br>|
| Total Derivative Assets subject to master netting agreements | &nbsp;&nbsp;&nbsp;&nbsp; $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Value** | **Value** | **Value** |
| **Derivative Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp; **Currency** <br>**Risk**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Interest** <br>**Rate Risk**<br>| **Total** |
| Unrealized depreciation on futures contracts —Exchange-Traded<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(1436653)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(1436653)<br>|
| Unrealized depreciation on forward foreign currency contracts outstanding | &nbsp;&nbsp;&nbsp;&nbsp; (34906)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (34906)<br>|
| Total Derivative Liabilities | &nbsp;&nbsp;&nbsp;&nbsp; (34906)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1436653)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1471559)<br>|
| Derivatives not subject to master netting agreements | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1436653 | &nbsp;&nbsp;&nbsp;&nbsp; 1436653 |
| Total Derivative Liabilities subject to master netting agreements | &nbsp;&nbsp;&nbsp;&nbsp; $(34906)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(34906)<br>|

---

**29**

**Invesco Short Term Bond Fund**

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The daily variation margin receivable (payable) at period-end is recorded in the Statement of Assets and Liabilities.

**Offsetting Assets and Liabilities**

The table below reflects the Fund's exposure to Counterparties subject to either an ISDA Master Agreement or other agreement for OTC derivative transactions as of February 28, 2026.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Financial** <br>**Derivative** <br>**Liabilities**<br>|  | **Collateral** <br>**(Received)/Pledged** | **Collateral** <br>**(Received)/Pledged** |  |
| **Counterparty** | &nbsp;&nbsp; **Forward Foreign** <br>**Currency Contracts**<br>| &nbsp;&nbsp; **Net Value of** <br>**Derivatives**<br>| **Non-Cash** | **Cash** | &nbsp;&nbsp; **Net** <br>**Amount**<br>|
| Morgan Stanley and Co. International PLC | &nbsp;&nbsp;&nbsp; $(34906)<br>| &nbsp;&nbsp;&nbsp; $(34906)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(34906)<br>|

---

**Effect of Derivative Investments for the year ended February 28, 2026**

The table below summarizes the gains (losses) on derivative investments, detailed by primary risk exposure, recognized in earnings during the period:

---

| | | | |
|:---|:---|:---|:---|
|  | **Location of Gain (Loss) on** <br>**Statement of Operations** | **Location of Gain (Loss) on** <br>**Statement of Operations** | **Location of Gain (Loss) on** <br>**Statement of Operations** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Currency** <br>**Risk**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Interest** <br>**Rate Risk**<br>| **Total** |
| Realized Gain (Loss): |  |  |  |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp; $34733 | &nbsp;&nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp;&nbsp; $34733 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (7096908)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7096908)<br>|
| Change in Net Unrealized Appreciation (Depreciation): |  |  |  |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp; (34906)<br>| &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (34906)<br>|
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (405822)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (405822)<br>|
| Total | &nbsp;&nbsp;&nbsp;&nbsp; $(173)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(7502730)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(7502903)<br>|

---

The table below summarizes the average notional value of derivatives held during the period.

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Forward** <br>**Foreign Currency** <br>**Contracts**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Futures** <br>**Contracts**<br>|
| Average notional value | &nbsp;&nbsp;&nbsp;&nbsp; $3632016 | &nbsp;&nbsp;&nbsp;&nbsp; $1467324960 |

---

**NOTE 5—Expense Offset Arrangement(s)**

The expense offset arrangement is comprised of transfer agency credits which result from balances in demand deposit accounts used by the transfer agent for clearing shareholder transactions. For the year ended February 28, 2026, the Fund received credits from this arrangement, which resulted in the reduction of the Fund's total expenses of $39,787.

**NOTE 6—Trustees' and Officers' Fees and Benefits**

*Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to pay remuneration to certain Trustees and Officers of the Fund. Trustees have the option to defer compensation payable by the Fund, and *Trustees' and Officers' Fees and Benefits* also include amounts accrued by the Fund to fund such deferred compensation amounts. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested. The Fund may have certain former Trustees who participated in a retirement plan and receive benefits under such plan. *Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to fund such retirement benefits. Obligations under the deferred compensation and retirement plans represent unsecured claims against the general assets of the Fund.

**NOTE 7—Cash Balances**

The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with SSB, the custodian bank. Such balances, if any at period-end, are shown in the Statement of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate the custodian bank for such overdrafts, the overdrawn Fund may either (1) leave funds as a compensating balance in the account so the custodian bank can be compensated by earning the additional interest; or (2) compensate by paying the custodian bank at a rate agreed upon by the custodian bank and Invesco, not to exceed the contractually agreed upon rate.

**NOTE 8—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** |
|  | **2026** | **2025** |
| Ordinary income\* | &nbsp;&nbsp; $89800106 | &nbsp;&nbsp;&nbsp;&nbsp; $100259407 |
| Return of capital | &nbsp;&nbsp; 1545921 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total distributions | &nbsp;&nbsp; $91346027 | &nbsp;&nbsp;&nbsp;&nbsp; $100259407 |

---

\* Includes short-term capital gain distributions, if any.

**30**

**Invesco Short Term Bond Fund**

------

---

| | |
|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | **2026** |
| Net unrealized appreciation — investments | &nbsp;&nbsp;&nbsp;&nbsp; $1997657 |
| Net unrealized appreciation (depreciation) — foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp; (311)<br>|
| Temporary book/tax differences | &nbsp;&nbsp;&nbsp;&nbsp; (168210)<br>|
| Capital loss carryforward | &nbsp;&nbsp;&nbsp;&nbsp; (187679380)<br>|
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp;&nbsp; 2294361214 |
| Total net assets | &nbsp;&nbsp;&nbsp;&nbsp; $2108510970 |

---

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is due to differences in the timing of recognition of gains and losses on investments for tax and book purposes. The Fund's net unrealized appreciation (depreciation) difference is attributable primarily to amortization and accretion on debt securities, derivative instruments, straddles and partnerships.

The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Fund's temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits.

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Fund to utilize. The ability to utilize capital loss carryforward in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Fund has a capital loss carryforward as of February 28, 2026, as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** |
| **Expiration** | **Short-Term** | **Long-Term** | **Total** |
| Not subject to expiration | &nbsp;&nbsp;&nbsp;&nbsp; $73445369 | &nbsp;&nbsp;&nbsp;&nbsp; $114234011 | &nbsp;&nbsp;&nbsp;&nbsp; $187679380 |

---

\*

Capital loss carryforward is reduced for limitations, if any, to the extent required by the Internal Revenue Code and may be further limited depending upon a variety of factors, including the realization of net unrealized gains or losses as of the date of any reorganization.

**NOTE 9—Investment Transactions**

The aggregate amount of investment securities (other than short-term securities, U.S. Government obligations and money market funds, if any) purchased and sold by the Fund during the year ended February 28, 2026 was $1,759,679,539 and $1,670,180,199, respectively. As of February 28, 2026, the aggregate cost of investments, including any derivatives, on a tax basis listed below includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:

---

| | |
|:---|:---|
| **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** | **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** |
| Aggregate unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $20687801 |
| Aggregate unrealized (depreciation) of investments | &nbsp;&nbsp;&nbsp;&nbsp; (18690144)<br>|
| Net unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $1997657 |

---

Cost of investments for tax purposes is $2,217,141,816.

**NOTE 10—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of amortization and accretion on debt securities, return of capital distributions and paydowns, on February 28, 2026, undistributed net investment income was increased by $1,676,907, undistributed net realized gain (loss) was decreased by $130,983 and shares of beneficial interest was decreased by $1,545,924. This reclassification had no effect on the net assets of the Fund.

**NOTE 11—Share Information** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended** <br>**February 28, 2026**<sup>(a)</sup>  | **Year ended** <br>**February 28, 2026**<sup>(a)</sup>  | **Year ended** <br>**February 28, 2025** | **Year ended** <br>**February 28, 2025** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 42829601 | &nbsp;&nbsp;&nbsp; $347730250 | &nbsp;&nbsp;&nbsp; 38119033 | &nbsp;&nbsp;&nbsp; $307518796 |
| Class C | &nbsp;&nbsp;&nbsp; 1617349 | &nbsp;&nbsp;&nbsp; 13112555 | &nbsp;&nbsp;&nbsp; 1672539 | &nbsp;&nbsp;&nbsp; 13499639 |
| Class R | &nbsp;&nbsp;&nbsp; 1117756 | &nbsp;&nbsp;&nbsp; 9090070 | &nbsp;&nbsp;&nbsp; 1407682 | &nbsp;&nbsp;&nbsp; 11350343 |
| Class Y | &nbsp;&nbsp;&nbsp; 13782683 | &nbsp;&nbsp;&nbsp; 112043613 | &nbsp;&nbsp;&nbsp; 14623721 | &nbsp;&nbsp;&nbsp; 118061069 |
| Class R5 | &nbsp;&nbsp;&nbsp; 73375 | &nbsp;&nbsp;&nbsp; 594874 | &nbsp;&nbsp;&nbsp; 56298 | &nbsp;&nbsp;&nbsp; 452199 |
| Class R6 | &nbsp;&nbsp;&nbsp; 17144468 | &nbsp;&nbsp;&nbsp; 139304053 | &nbsp;&nbsp;&nbsp; 15593205 | &nbsp;&nbsp;&nbsp; 125811270 |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 5465793 | &nbsp;&nbsp;&nbsp; 44418171 | &nbsp;&nbsp;&nbsp; 5752280 | &nbsp;&nbsp;&nbsp; 46368719 |
| Class C | &nbsp;&nbsp;&nbsp; 310400 | &nbsp;&nbsp;&nbsp; 2522286 | &nbsp;&nbsp;&nbsp; 418933 | &nbsp;&nbsp;&nbsp; 3375967 |
| Class R | &nbsp;&nbsp;&nbsp; 208099 | &nbsp;&nbsp;&nbsp; 1693873 | &nbsp;&nbsp;&nbsp; 236556 | &nbsp;&nbsp;&nbsp; 1910799 |
| Class Y | &nbsp;&nbsp;&nbsp; 1088906 | &nbsp;&nbsp;&nbsp; 8849812 | &nbsp;&nbsp;&nbsp; 1406918 | &nbsp;&nbsp;&nbsp; 11346050 |
| Class R5 | &nbsp;&nbsp;&nbsp; 4721 | &nbsp;&nbsp;&nbsp; 38279 | &nbsp;&nbsp;&nbsp; 5245 | &nbsp;&nbsp;&nbsp; 42210 |
| Class R6 | &nbsp;&nbsp;&nbsp; 2433293 | &nbsp;&nbsp;&nbsp; 19789080 | &nbsp;&nbsp;&nbsp; 2749642 | &nbsp;&nbsp;&nbsp; 22179368 |

---

**31**

**Invesco Short Term Bond Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended**<br> **February 28, 2026**<sup>(a)</sup> | **Year ended**<br> **February 28, 2026**<sup>(a)</sup> | **Year ended**<br> **February 28, 2025** | **Year ended**<br> **February 28, 2025** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Automatic conversion of Class C shares to Class A shares:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 1201342 | &nbsp;&nbsp;&nbsp; $9745903 | &nbsp;&nbsp;&nbsp; 1654610 | &nbsp;&nbsp;&nbsp; $13340142 |
| Class C | &nbsp;&nbsp;&nbsp; (1201260)<br>| &nbsp;&nbsp;&nbsp; (9745903)<br>| &nbsp;&nbsp;&nbsp; (1654610)<br>| &nbsp;&nbsp;&nbsp; (13340142)<br>|
| **Reacquired:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; (42411265)<br>| &nbsp;&nbsp;&nbsp; (344438404)<br>| &nbsp;&nbsp;&nbsp; (41980335)<br>| &nbsp;&nbsp;&nbsp; (338484609)<br>|
| Class C | &nbsp;&nbsp;&nbsp; (2304976)<br>| &nbsp;&nbsp;&nbsp; (18716562)<br>| &nbsp;&nbsp;&nbsp; (2790793)<br>| &nbsp;&nbsp;&nbsp; (22484155)<br>|
| Class R | &nbsp;&nbsp;&nbsp; (1198828)<br>| &nbsp;&nbsp;&nbsp; (9747510)<br>| &nbsp;&nbsp;&nbsp; (1797356)<br>| &nbsp;&nbsp;&nbsp; (14527627)<br>|
| Class Y | &nbsp;&nbsp;&nbsp; (17632747)<br>| &nbsp;&nbsp;&nbsp; (143138258)<br>| &nbsp;&nbsp;&nbsp; (15358883)<br>| &nbsp;&nbsp;&nbsp; (123901176)<br>|
| Class R5 | &nbsp;&nbsp;&nbsp; (102831)<br>| &nbsp;&nbsp;&nbsp; (833190)<br>| &nbsp;&nbsp;&nbsp; (60512)<br>| &nbsp;&nbsp;&nbsp; (485742)<br>|
| Class R6 | &nbsp;&nbsp;&nbsp; (12596549)<br>| &nbsp;&nbsp;&nbsp; (102347967)<br>| &nbsp;&nbsp;&nbsp; (31583191)<br>| &nbsp;&nbsp;&nbsp; (254657679)<br>|
| Net increase (decrease) in share activity | &nbsp;&nbsp;&nbsp; 9829330 | &nbsp;&nbsp;&nbsp; $79965025 | &nbsp;&nbsp;&nbsp; (11529018)<br>| &nbsp;&nbsp;&nbsp; $(92624559)<br>|

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 44% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**32**

**Invesco Short Term Bond Fund**

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Investment Securities Funds (Invesco Investment Securities Funds) and Shareholders of Invesco Short Term Bond Fund

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco Short Term Bond Fund (one of the funds constituting AIM Investment Securities Funds (Invesco Investment Securities Funds), referred to hereafter as the "Fund") as of February 28, 2026, the related statement of operations for the year ended February 28, 2026, the statement of changes in net assets for each of the two years in the period ended February 28, 2026, including the related notes, and the financial highlights for each of the five years in the period ended February 28, 2026 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 28, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended February 28, 2026 and the financial highlights for each of the five years in the period ended February 28, 2026 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026 by correspondence with the custodian, transfer agent, agent banks, and brokers. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

April 28, 2026

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**33**

**Invesco Short Term Bond Fund**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year–end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended February 28, 2026:

---

| | |
|:---|:---|
| **Federal and State Income Tax** |  |
| Qualified Dividend Income\* | &nbsp;&nbsp; 1.26% |
| Corporate Dividends Received Deduction\* | &nbsp;&nbsp; 1.26% |
| U.S. Treasury Obligations\* | &nbsp;&nbsp; 3.23% |
| Qualified Business Income\* | &nbsp;&nbsp; 0.00% |
| Business Interest Income\* | &nbsp;&nbsp; 95.89% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

**34**

**Invesco Short Term Bond Fund**

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

Not applicable.

**35**

**Invesco Short Term Bond Fund**

------

![](imgbb9e2e6d1.jpg)

SEC file number(s):

Invesco Distributors, Inc.

STB-NCSR

------

![](imgf720e0641.jpg)

------

**Annual Financial Statements and Other Information**

**February 28, 2026**

**Invesco SMA High Yield Bond Fund**

Nasdaq:

SMHYX

------

---

| | |
|:---|:---|
| [2](#xx_39a53bc8-b1f7-4180-8857-1ef38b2d541f_SOI-Continued-903_1) | Schedule of Investments |
| [8](#xx_39a53bc8-b1f7-4180-8857-1ef38b2d541f_FS-Continued-903_1) | Financial Statements |
| [11](#xx_39a53bc8-b1f7-4180-8857-1ef38b2d541f_FS-Continued-903_4) | Financial Highlights |
| [12](#xx_39a53bc8-b1f7-4180-8857-1ef38b2d541f_NTF-Continued-903_1) | Notes to Financial Statements |
| [18](#xx_39a53bc8-b1f7-4180-8857-1ef38b2d541f_ARS-Continued-903_1) | Report of Independent Registered Public Accounting Firm |
| [19](#xx_39a53bc8-b1f7-4180-8857-1ef38b2d541f_TI-Continued-903_1) | Tax Information |
| [20](#xx_39a53bc8-b1f7-4180-8857-1ef38b2d541f_OIRSR-Continued-903_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments**<sup>(a)</sup> 

*February 28, 2026*

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **U.S. Dollar Denominated Bonds & Notes–93.42%** | **U.S. Dollar Denominated Bonds & Notes–93.42%** | **U.S. Dollar Denominated Bonds & Notes–93.42%** | **U.S. Dollar Denominated Bonds & Notes–93.42%** |
| **Advertising–0.49%** | **Advertising–0.49%** | **Advertising–0.49%** | **Advertising–0.49%** |
| Clear Channel Outdoor Holdings, Inc., | Clear Channel Outdoor Holdings, Inc., |  |  |
| 7.13%, 02/15/2031<sup>(b)</sup> <br>|  | $25000 | &nbsp;&nbsp; $26438 |
| 7.50%, 03/15/2033<sup>(b)</sup> <br>|  | 23000 | &nbsp;&nbsp; 24842 |
|  |  |  | &nbsp;&nbsp; 51280 |
| **Aerospace & Defense–1.97%** | **Aerospace & Defense–1.97%** | **Aerospace & Defense–1.97%** | **Aerospace & Defense–1.97%** |
| TransDigm, Inc., | TransDigm, Inc., |  |  |
| 6.38%, 03/01/2029<sup>(b)</sup> <br>|  | 50000 | &nbsp;&nbsp; 51422 |
| 6.88%, 12/15/2030<sup>(b)</sup> <br>|  | 24000 | &nbsp;&nbsp; 24992 |
| 7.13%, 12/01/2031<sup>(b)</sup> <br>|  | 28000 | &nbsp;&nbsp; 29382 |
| 6.00%, 01/15/2033<sup>(b)</sup> <br>|  | 49000 | &nbsp;&nbsp; 49903 |
| 6.25%, 01/31/2034<sup>(b)</sup> <br>|  | 51000 | &nbsp;&nbsp; 52791 |
|  |  |  | &nbsp;&nbsp; 208490 |
| **Apparel Retail–0.00%** | **Apparel Retail–0.00%** | **Apparel Retail–0.00%** | **Apparel Retail–0.00%** |
| Saks Global Enterprises LLC, 11.00%, <br> 12/31/2049<sup>(b)(c)</sup> <br>|  | 31290 | &nbsp;&nbsp; 215 |
| **Application Software–1.31%** | **Application Software–1.31%** | **Application Software–1.31%** | **Application Software–1.31%** |
| Black Pearl Compute LLC, 6.13%, <br> 02/15/2031<sup>(b)</sup> <br>|  | 13000 | &nbsp;&nbsp; 13321 |
| Cloud Software Group, Inc., | Cloud Software Group, Inc., |  |  |
| 9.00%, 09/30/2029<sup>(b)</sup> <br>|  | 30000 | &nbsp;&nbsp; 29410 |
| 8.25%, 06/30/2032<sup>(b)</sup> <br>|  | 44000 | &nbsp;&nbsp; 44074 |
| SS&C Technologies, Inc., 5.50%, <br> 09/30/2027<sup>(b)</sup> <br>|  | 52000 | &nbsp;&nbsp; 51962 |
|  |  |  | &nbsp;&nbsp; 138767 |
| **Automobile Manufacturers–1.26%** | **Automobile Manufacturers–1.26%** | **Automobile Manufacturers–1.26%** | **Automobile Manufacturers–1.26%** |
| Allison Transmission, Inc., | Allison Transmission, Inc., |  |  |
| 3.75%, 01/30/2031<sup>(b)</sup> <br>|  | 112000 | &nbsp;&nbsp; 106606 |
| 5.88%, 12/01/2033<sup>(b)</sup> <br>|  | 26000 | &nbsp;&nbsp; 26566 |
|  |  |  | &nbsp;&nbsp; 133172 |
| **Automotive Parts & Equipment–3.22%** | **Automotive Parts & Equipment–3.22%** | **Automotive Parts & Equipment–3.22%** | **Automotive Parts & Equipment–3.22%** |
| American Axle & Manufacturing, Inc., <br> 7.75%, 10/15/2033<sup>(b)</sup> <br>|  | 53000 | &nbsp;&nbsp; 53901 |
| Clarios Global L.P./Clarios US Finance <br> Co., | Clarios Global L.P./Clarios US Finance <br> Co., |  |  |
| 6.75%, 02/15/2030<sup>(b)</sup> <br>|  | 68000 | &nbsp;&nbsp; 71261 |
| 6.75%, 09/15/2032<sup>(b)</sup> <br>|  | 10000 | &nbsp;&nbsp; 10386 |
| Cougar JV Subsidiary LLC, 8.00%, <br> 05/15/2032<sup>(b)</sup> <br>|  | 51000 | &nbsp;&nbsp; 54350 |
| Forvia SE (France), 8.00%, <br> 06/15/2030<sup>(b)</sup> <br>|  | 40000 | &nbsp;&nbsp; 42648 |
| NESCO Holdings II, Inc., 5.50%, <br> 04/15/2029<sup>(b)</sup> <br>|  | 55000 | &nbsp;&nbsp; 54759 |
| Phinia, Inc., | Phinia, Inc., |  |  |
| 6.75%, 04/15/2029<sup>(b)</sup> <br>|  | 24000 | &nbsp;&nbsp; 24835 |
| 6.63%, 10/15/2032<sup>(b)</sup> <br>|  | 27000 | &nbsp;&nbsp; 28055 |
|  |  |  | &nbsp;&nbsp; 340195 |
| **Automotive Retail–3.27%** | **Automotive Retail–3.27%** | **Automotive Retail–3.27%** | **Automotive Retail–3.27%** |
| Carvana Co., 0.00% PIK Rate, 9.00% Cash <br> Rate, 06/01/2031<sup>(b)(d)</sup> <br>|  | 50290 | &nbsp;&nbsp; 55193 |
| Group 1 Automotive, Inc., | Group 1 Automotive, Inc., |  |  |
| 4.00%, 08/15/2028<sup>(b)</sup> <br>|  | 107000 | &nbsp;&nbsp; 105075 |
| 6.38%, 01/15/2030<sup>(b)</sup> <br>|  | 51000 | &nbsp;&nbsp; 52306 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Automotive Retail–(continued)** | **Automotive Retail–(continued)** | **Automotive Retail–(continued)** | **Automotive Retail–(continued)** |
| LCM Investments Holdings II LLC, 8.25%, <br> 08/01/2031<sup>(b)</sup> <br>|  | $50000 | &nbsp;&nbsp; $52584 |
| Lithia Motors, Inc., | Lithia Motors, Inc., |  |  |
| 5.50%, 10/01/2030<sup>(b)</sup> <br>|  | 26000 | &nbsp;&nbsp; 26180 |
| 4.38%, 01/15/2031<sup>(b)</sup> <br>|  | 56000 | &nbsp;&nbsp; 53892 |
|  |  |  | &nbsp;&nbsp; 345230 |
| **Broadcasting–1.16%** | **Broadcasting–1.16%** | **Broadcasting–1.16%** | **Broadcasting–1.16%** |
| Discovery Communications LLC, 4.13%, <br> 05/15/2029<br>|  | 56000 | &nbsp;&nbsp; 55267 |
| Gray Media, Inc., 9.63%, 07/15/2032<sup>(b)</sup> <br>|  | 15000 | &nbsp;&nbsp; 15596 |
| Univision Communications, Inc., | Univision Communications, Inc., |  |  |
| 8.00%, 08/15/2028<sup>(b)</sup> <br>|  | 30000 | &nbsp;&nbsp; 30836 |
| 9.38%, 08/01/2032<sup>(b)</sup> <br>|  | 20000 | &nbsp;&nbsp; 21180 |
|  |  |  | &nbsp;&nbsp; 122879 |
| **Building Products–0.49%** | **Building Products–0.49%** | **Building Products–0.49%** | **Building Products–0.49%** |
| New Enterprise Stone & Lime Co., Inc., <br> 5.25%, 07/15/2028<sup>(b)</sup> <br>|  | 52000 | &nbsp;&nbsp; 52200 |
| **Cable & Satellite–3.43%** | **Cable & Satellite–3.43%** | **Cable & Satellite–3.43%** | **Cable & Satellite–3.43%** |
| CCO Holdings LLC/CCO Holdings Capital Corp., | CCO Holdings LLC/CCO Holdings Capital Corp., |  |  |
| 5.38%, 06/01/2029<sup>(b)</sup> <br>|  | 40000 | &nbsp;&nbsp; 39932 |
| 4.75%, 03/01/2030<sup>(b)</sup> <br>|  | 55000 | &nbsp;&nbsp; 53209 |
| 4.75%, 02/01/2032<sup>(b)</sup> <br>|  | 69000 | &nbsp;&nbsp; 64215 |
| 4.50%, 05/01/2032 |  | 61000 | &nbsp;&nbsp; 55866 |
| 4.50%, 06/01/2033<sup>(b)</sup> <br>|  | 61000 | &nbsp;&nbsp; 54526 |
| Directv Financing LLC, 8.88%, <br> 02/01/2030<sup>(b)</sup> <br>|  | 13000 | &nbsp;&nbsp; 13021 |
| Directv Financing LLC/Directv Financing <br> Co-Obligor, Inc., | Directv Financing LLC/Directv Financing <br> Co-Obligor, Inc., |  |  |
| 5.88%, 08/15/2027<sup>(b)</sup> <br>|  | 11000 | &nbsp;&nbsp; 11020 |
| 10.00%, 02/15/2031<sup>(b)</sup> <br>|  | 7000 | &nbsp;&nbsp; 7165 |
| Sinclair Television Group, Inc., 8.13%, <br> 02/15/2033<sup>(b)</sup> <br>|  | 10000 | &nbsp;&nbsp; 10420 |
| Versant Media Group, Inc., 7.25%, <br> 01/30/2031<sup>(b)</sup> <br>|  | 52000 | &nbsp;&nbsp; 53250 |
|  |  |  | &nbsp;&nbsp; 362624 |
| **Casinos & Gaming–3.27%** | **Casinos & Gaming–3.27%** | **Casinos & Gaming–3.27%** | **Casinos & Gaming–3.27%** |
| Melco Resorts Finance Ltd. (Hong Kong), <br> 6.50%, 09/24/2033<sup>(b)</sup> <br>|  | 100000 | &nbsp;&nbsp; 99830 |
| Studio City Finance Ltd. (Macau), 5.00%, <br> 01/15/2029<sup>(b)</sup> <br>|  | 200000 | &nbsp;&nbsp; 193549 |
| Voyager Parent LLC, 9.25%, <br> 07/01/2032<sup>(b)</sup> <br>|  | 49000 | &nbsp;&nbsp; 52354 |
|  |  |  | &nbsp;&nbsp; 345733 |
| **Commercial & Residential Mortgage Finance–2.18%** | **Commercial & Residential Mortgage Finance–2.18%** | **Commercial & Residential Mortgage Finance–2.18%** | **Commercial & Residential Mortgage Finance–2.18%** |
| Nationstar Mortgage Holdings, Inc., | Nationstar Mortgage Holdings, Inc., |  |  |
| 6.50%, 08/01/2029<sup>(b)</sup> <br>|  | 49000 | &nbsp;&nbsp; 49735 |
| 7.13%, 02/01/2032<sup>(b)</sup> <br>|  | 50000 | &nbsp;&nbsp; 50000 |
| PennyMac Financial Services, Inc., 4.25%, <br> 02/15/2029<sup>(b)</sup> <br>|  | 28000 | &nbsp;&nbsp; 26939 |
| Rocket Cos., Inc., 6.13%, 08/01/2030<sup>(b)</sup> <br>|  | 52000 | &nbsp;&nbsp; 53379 |
| Walker & Dunlop, Inc., 6.63%, <br> 04/01/2033<sup>(b)</sup> <br>|  | 51000 | &nbsp;&nbsp; 50458 |
|  |  |  | &nbsp;&nbsp; 230511 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**2**

**Invesco SMA High Yield Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Construction & Engineering–1.01%** | **Construction & Engineering–1.01%** | **Construction & Engineering–1.01%** | **Construction & Engineering–1.01%** |
| AECOM, 6.00%, 08/01/2033<sup>(b)</sup> <br>|  | $52000 | &nbsp;&nbsp; $53168 |
| Great Lakes Dredge & Dock Corp., 5.25%, <br> 06/01/2029<sup>(b)</sup> <br>|  | 54000 | &nbsp;&nbsp; 53895 |
|  |  |  | &nbsp;&nbsp; 107063 |
| **Consumer Finance–4.32%** | **Consumer Finance–4.32%** | **Consumer Finance–4.32%** | **Consumer Finance–4.32%** |
| Bread Financial Holdings, Inc., 8.38%, <br> 06/15/2035<sup>(b)(e)</sup> <br>|  | 25000 | &nbsp;&nbsp; 25505 |
| EZCORP, Inc., 7.38%, 04/01/2032<sup>(b)</sup> <br>|  | 146000 | &nbsp;&nbsp; 156722 |
| FirstCash, Inc., 6.88%, 03/01/2032<sup>(b)</sup> <br>|  | 49000 | &nbsp;&nbsp; 50629 |
| Navient Corp., | Navient Corp., |  |  |
| 9.38%, 07/25/2030 |  | 17000 | &nbsp;&nbsp; 17232 |
| 7.88%, 06/15/2032 |  | 57000 | &nbsp;&nbsp; 53093 |
| OneMain Finance Corp., | OneMain Finance Corp., |  |  |
| 6.63%, 05/15/2029 |  | 14000 | &nbsp;&nbsp; 14310 |
| 4.00%, 09/15/2030 |  | 34000 | &nbsp;&nbsp; 31415 |
| 7.13%, 11/15/2031 |  | 45000 | &nbsp;&nbsp; 46038 |
| 6.75%, 03/15/2032 |  | 25000 | &nbsp;&nbsp; 25225 |
| 7.13%, 09/15/2032 |  | 35000 | &nbsp;&nbsp; 35837 |
|  |  |  | &nbsp;&nbsp; 456006 |
| **Diversified Banks–1.02%** | **Diversified Banks–1.02%** | **Diversified Banks–1.02%** | **Diversified Banks–1.02%** |
| Brundage-Bone Concrete Pumping <br> Holdings, Inc., 7.50%, 02/01/2032<sup>(b)</sup> <br>|  | 52000 | &nbsp;&nbsp; 53013 |
| Citigroup, Inc., 6.63%<sup>(e)(f)</sup> <br>|  | 53000 | &nbsp;&nbsp; 54825 |
|  |  |  | &nbsp;&nbsp; 107838 |
| **Diversified Financial Services–6.24%** | **Diversified Financial Services–6.24%** | **Diversified Financial Services–6.24%** | **Diversified Financial Services–6.24%** |
| AerCap Ireland Capital DAC/AerCap Global <br> Aviation Trust (Ireland), 6.95%, <br> 03/10/2055<sup>(e)</sup> <br>|  | 150000 | &nbsp;&nbsp; 158582 |
| Freedom Mortgage Holdings LLC, 8.38%, <br> 04/01/2032<sup>(b)</sup> <br>|  | 26000 | &nbsp;&nbsp; 26217 |
| GGAM Finance Ltd. (Ireland), 5.88%, <br> 03/15/2030<sup>(b)</sup> <br>|  | 51000 | &nbsp;&nbsp; 51934 |
| Global Aircraft Leasing Co. Ltd. (Cayman <br> Islands), 8.75%, 09/01/2027<sup>(b)</sup> <br>|  | 147000 | &nbsp;&nbsp; 151704 |
| Jane Street Group/JSG Finance, Inc., | Jane Street Group/JSG Finance, Inc., |  |  |
| 6.13%, 11/01/2032<sup>(b)</sup> <br>|  | 36000 | &nbsp;&nbsp; 36243 |
| 6.75%, 05/01/2033<sup>(b)</sup> <br>|  | 91000 | &nbsp;&nbsp; 93452 |
| Osaic Holdings, Inc., 6.75%, <br> 08/01/2032<sup>(b)</sup> <br>|  | 49000 | &nbsp;&nbsp; 49483 |
| Phoenix Aviation Capital Ltd. (Ireland), <br> 9.25%, 07/15/2030<sup>(b)</sup> <br>|  | 14000 | &nbsp;&nbsp; 14679 |
| Provident Funding Associates L.P./PFG <br> Finance Corp., 9.75%, 09/15/2029<sup>(b)</sup> <br>|  | 74000 | &nbsp;&nbsp; 76937 |
|  |  |  | &nbsp;&nbsp; 659231 |
| **Diversified Real Estate Activities–0.50%** | **Diversified Real Estate Activities–0.50%** | **Diversified Real Estate Activities–0.50%** | **Diversified Real Estate Activities–0.50%** |
| Velocity Commercial Capital LLC, 9.38%, <br> 02/15/2031<sup>(b)</sup> <br>|  | 52000 | &nbsp;&nbsp; 52757 |
| **Diversified REITs–0.62%** | **Diversified REITs–0.62%** | **Diversified REITs–0.62%** | **Diversified REITs–0.62%** |
| Iron Mountain Information Management <br> Services, Inc., 5.00%, 07/15/2032<sup>(b)</sup> <br>|  | 57000 | &nbsp;&nbsp; 55202 |
| Uniti Group L.P./Uniti Group Finance 2019, <br> Inc./CSL Capital LLC, 8.63%, <br> 06/15/2032<sup>(b)</sup> <br>|  | 10000 | &nbsp;&nbsp; 10150 |
|  |  |  | &nbsp;&nbsp; 65352 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Diversified Support Services–0.97%** | **Diversified Support Services–0.97%** | **Diversified Support Services–0.97%** | **Diversified Support Services–0.97%** |
| RB Global Holdings, Inc. (Canada), | RB Global Holdings, Inc. (Canada), |  |  |
| 6.75%, 03/15/2028<sup>(b)</sup> <br>|  | $75000 | &nbsp;&nbsp; $76304 |
| 7.75%, 03/15/2031<sup>(b)</sup> <br>|  | 25000 | &nbsp;&nbsp; 26023 |
|  |  |  | &nbsp;&nbsp; 102327 |
| **Electric Utilities–2.83%** | **Electric Utilities–2.83%** | **Electric Utilities–2.83%** | **Electric Utilities–2.83%** |
| Brookfield Infrastructure Finance ULC <br> (Canada), 6.75%, 03/15/2055<sup>(e)</sup> <br>|  | 77000 | &nbsp;&nbsp; 78466 |
| California Buyer Ltd./Atlantica Sustainable <br> Infrastructure PLC (United Kingdom), <br> 6.38%, 02/15/2032<sup>(b)</sup> <br>|  | 50000 | &nbsp;&nbsp; 49885 |
| Hawaiian Electric Co., Inc., 6.00%, <br> 10/01/2033<sup>(b)</sup> <br>|  | 79000 | &nbsp;&nbsp; 80559 |
| Vistra Operations Co. LLC, | Vistra Operations Co. LLC, |  |  |
| 5.63%, 02/15/2027<sup>(b)</sup> <br>|  | 71000 | &nbsp;&nbsp; 71010 |
| 6.88%, 04/15/2032<sup>(b)</sup> <br>|  | 18000 | &nbsp;&nbsp; 18945 |
|  |  |  | &nbsp;&nbsp; 298865 |
| **Electrical Components & Equipment–0.76%** | **Electrical Components & Equipment–0.76%** | **Electrical Components & Equipment–0.76%** | **Electrical Components & Equipment–0.76%** |
| EnerSys, | EnerSys, |  |  |
| 4.38%, 12/15/2027<sup>(b)</sup> <br>|  | 57000 | &nbsp;&nbsp; 56975 |
| 6.63%, 01/15/2032<sup>(b)</sup> <br>|  | 23000 | &nbsp;&nbsp; 23753 |
|  |  |  | &nbsp;&nbsp; 80728 |
| **Electronic Components–0.47%** | **Electronic Components–0.47%** | **Electronic Components–0.47%** | **Electronic Components–0.47%** |
| Sensata Technologies, Inc., 3.75%, <br> 02/15/2031<sup>(b)</sup> <br>|  | 53000 | &nbsp;&nbsp; 50003 |
| **Electronic Manufacturing Services–0.76%** | **Electronic Manufacturing Services–0.76%** | **Electronic Manufacturing Services–0.76%** | **Electronic Manufacturing Services–0.76%** |
| EMRLD Borrower L.P./Emerald Co-Issuer, <br> Inc., 6.63%, 12/15/2030<sup>(b)</sup> <br>|  | 77000 | &nbsp;&nbsp; 79791 |
| **Environmental & Facilities Services–0.74%** | **Environmental & Facilities Services–0.74%** | **Environmental & Facilities Services–0.74%** | **Environmental & Facilities Services–0.74%** |
| GFL Environmental Holdings (US), Inc., <br> 5.50%, 02/01/2034<sup>(b)</sup> <br>|  | 45000 | &nbsp;&nbsp; 45218 |
| Wrangler Holdco Corp. (Canada), 6.63%, <br> 04/01/2032<sup>(b)</sup> <br>|  | 32000 | &nbsp;&nbsp; 33405 |
|  |  |  | &nbsp;&nbsp; 78623 |
| **Fertilizers & Agricultural Chemicals–0.08%** | **Fertilizers & Agricultural Chemicals–0.08%** | **Fertilizers & Agricultural Chemicals–0.08%** | **Fertilizers & Agricultural Chemicals–0.08%** |
| FMC Corp., 3.45%, 10/01/2029 |  | 10000 | &nbsp;&nbsp; 8835 |
| **Gold–1.05%** | **Gold–1.05%** | **Gold–1.05%** | **Gold–1.05%** |
| New Gold, Inc. (Canada), 6.88%, <br> 04/01/2032<sup>(b)</sup> <br>|  | 104000 | &nbsp;&nbsp; 110910 |
| **Health Care Equipment–0.53%** | **Health Care Equipment–0.53%** | **Health Care Equipment–0.53%** | **Health Care Equipment–0.53%** |
| Hologic, Inc., 3.25%, 02/15/2029<sup>(b)</sup> <br>|  | 56000 | &nbsp;&nbsp; 55742 |
| **Health Care Facilities–1.23%** | **Health Care Facilities–1.23%** | **Health Care Facilities–1.23%** | **Health Care Facilities–1.23%** |
| Acadia Healthcare Co., Inc., 7.38%, <br> 03/15/2033<sup>(b)</sup> <br>|  | 26000 | &nbsp;&nbsp; 26873 |
| Tenet Healthcare Corp., | Tenet Healthcare Corp., |  |  |
| 6.75%, 05/15/2031 |  | 76000 | &nbsp;&nbsp; 79118 |
| 5.50%, 11/15/2032<sup>(b)</sup> <br>|  | 20000 | &nbsp;&nbsp; 20262 |
| 6.00%, 11/15/2033<sup>(b)</sup> <br>|  | 4000 | &nbsp;&nbsp; 4136 |
|  |  |  | &nbsp;&nbsp; 130389 |
| **Health Care REITs–0.59%** | **Health Care REITs–0.59%** | **Health Care REITs–0.59%** | **Health Care REITs–0.59%** |
| Diversified Healthcare Trust, 7.25%, <br> 10/15/2030<sup>(b)</sup> <br>|  | 50000 | &nbsp;&nbsp; 52057 |
| MPT Operating Partnership L.P./MPT <br> Finance Corp., 8.50%, 02/15/2032<sup>(b)</sup> <br>|  | 10000 | &nbsp;&nbsp; 10710 |
|  |  |  | &nbsp;&nbsp; 62767 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**3**

**Invesco SMA High Yield Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Health Care Services–1.02%** | **Health Care Services–1.02%** | **Health Care Services–1.02%** | **Health Care Services–1.02%** |
| Community Health Systems, Inc., | Community Health Systems, Inc., |  |  |
| 5.25%, 05/15/2030<sup>(b)</sup> <br>|  | $23000 | &nbsp;&nbsp; $22116 |
| 4.75%, 02/15/2031<sup>(b)</sup> <br>|  | 35000 | &nbsp;&nbsp; 32140 |
| DaVita, Inc., | DaVita, Inc., |  |  |
| 6.88%, 09/01/2032<sup>(b)</sup> <br>|  | 26000 | &nbsp;&nbsp; 27032 |
| 6.75%, 07/15/2033<sup>(b)</sup> <br>|  | 25000 | &nbsp;&nbsp; 25975 |
|  |  |  | &nbsp;&nbsp; 107263 |
| **Hotel & Resort REITs–0.40%** | **Hotel & Resort REITs–0.40%** | **Hotel & Resort REITs–0.40%** | **Hotel & Resort REITs–0.40%** |
| RLJ Lodging Trust L.P., 4.00%, <br> 09/15/2029<sup>(b)</sup> <br>|  | 44000 | &nbsp;&nbsp; 42127 |
| **Hotels, Resorts & Cruise Lines–1.24%** | **Hotels, Resorts & Cruise Lines–1.24%** | **Hotels, Resorts & Cruise Lines–1.24%** | **Hotels, Resorts & Cruise Lines–1.24%** |
| Hilton Domestic Operating Co., Inc., <br> 5.88%, 03/15/2033<sup>(b)</sup> <br>|  | 102000 | &nbsp;&nbsp; 105062 |
| Marriott Ownership Resorts, Inc., 6.50%, <br> 10/01/2033<sup>(b)</sup> <br>|  | 27000 | &nbsp;&nbsp; 26197 |
|  |  |  | &nbsp;&nbsp; 131259 |
| **Housewares & Specialties–0.51%** | **Housewares & Specialties–0.51%** | **Housewares & Specialties–0.51%** | **Housewares & Specialties–0.51%** |
| Newell Brands, Inc., | Newell Brands, Inc., |  |  |
| 6.63%, 09/15/2029 |  | 26000 | &nbsp;&nbsp; 26427 |
| 6.38%, 05/15/2030 |  | 27000 | &nbsp;&nbsp; 27104 |
|  |  |  | &nbsp;&nbsp; 53531 |
| **Independent Power Producers & Energy Traders–2.12%** | **Independent Power Producers & Energy Traders–2.12%** | **Independent Power Producers & Energy Traders–2.12%** | **Independent Power Producers & Energy Traders–2.12%** |
| Vistra Corp., | Vistra Corp., |  |  |
| 8.00%<sup>(b)(e)(f)</sup> <br>|  | 26000 | &nbsp;&nbsp; 26503 |
| Series C, 8.88%<sup>(b)(e)(f)</sup> <br>|  | 81000 | &nbsp;&nbsp; 89541 |
| VoltaGrid LLC, 7.38%, 11/01/2030<sup>(b)</sup> <br>|  | 103000 | &nbsp;&nbsp; 107600 |
|  |  |  | &nbsp;&nbsp; 223644 |
| **Industrial Machinery & Supplies & Components–2.51%** | **Industrial Machinery & Supplies & Components–2.51%** | **Industrial Machinery & Supplies & Components–2.51%** | **Industrial Machinery & Supplies & Components–2.51%** |
| Enpro, Inc., 6.13%, 06/01/2033<sup>(b)</sup> <br>|  | 104000 | &nbsp;&nbsp; 107593 |
| ESAB Corp., 6.25%, 04/15/2029<sup>(b)</sup> <br>|  | 77000 | &nbsp;&nbsp; 79026 |
| Roller Bearing Co. of America, Inc., <br> 4.38%, 10/15/2029<sup>(b)</sup> <br>|  | 80000 | &nbsp;&nbsp; 78941 |
|  |  |  | &nbsp;&nbsp; 265560 |
| **Insurance Brokers–1.47%** | **Insurance Brokers–1.47%** | **Insurance Brokers–1.47%** | **Insurance Brokers–1.47%** |
| Alliant Holdings Intermediate LLC/Alliant <br> Holdings Co-Issuer, 7.00%, <br> 01/15/2031<sup>(b)</sup> <br>|  | 78000 | &nbsp;&nbsp; 79470 |
| HUB International Ltd., 7.25%, <br> 06/15/2030<sup>(b)</sup> <br>|  | 73000 | &nbsp;&nbsp; 75338 |
|  |  |  | &nbsp;&nbsp; 154808 |
| **Integrated Oil & Gas–0.23%** | **Integrated Oil & Gas–0.23%** | **Integrated Oil & Gas–0.23%** | **Integrated Oil & Gas–0.23%** |
| Petroleos Mexicanos (Mexico), 6.63%, <br> 06/15/2035<br>|  | 25000 | &nbsp;&nbsp; 23944 |
| **Integrated Telecommunication Services–6.05%** | **Integrated Telecommunication Services–6.05%** | **Integrated Telecommunication Services–6.05%** | **Integrated Telecommunication Services–6.05%** |
| Cipher Compute LLC, 7.13%, <br> 11/15/2030<sup>(b)</sup> <br>|  | 51000 | &nbsp;&nbsp; 53223 |
| Iliad Holding S.A.S. (France), 8.50%, <br> 04/15/2031<sup>(b)</sup> <br>|  | 200000 | &nbsp;&nbsp; 214386 |
| Level 3 Financing, Inc., | Level 3 Financing, Inc., |  |  |
| 6.88%, 06/30/2033<sup>(b)</sup> <br>|  | 53000 | &nbsp;&nbsp; 54933 |
| 7.00%, 03/31/2034<sup>(b)</sup> <br>|  | 52833 | &nbsp;&nbsp; 54962 |
| 8.50%, 01/15/2036<sup>(b)</sup> <br>|  | 20000 | &nbsp;&nbsp; 20845 |
| SV RNO Property Owner 1 LLC, 5.88%, <br> 03/01/2031<sup>(b)</sup> <br>|  | 39000 | &nbsp;&nbsp; 39202 |
| Telecom Italia Capital S.A. (Italy), 6.38%, <br> 11/15/2033<br>|  | 50000 | &nbsp;&nbsp; 53143 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Integrated Telecommunication Services–(continued)** | **Integrated Telecommunication Services–(continued)** | **Integrated Telecommunication Services–(continued)** | **Integrated Telecommunication Services–(continued)** |
| Uniti Services LLC, 7.50%, 10/15/2033<sup>(b)</sup> <br>|  | $91000 | &nbsp;&nbsp; $94746 |
| WULF Compute LLC, 7.75%, <br> 10/15/2030<sup>(b)</sup> <br>|  | 51000 | &nbsp;&nbsp; 54049 |
|  |  |  | &nbsp;&nbsp; 639489 |
| **Interactive Media & Services–0.90%** | **Interactive Media & Services–0.90%** | **Interactive Media & Services–0.90%** | **Interactive Media & Services–0.90%** |
| Discovery Global Holdings, Inc., | Discovery Global Holdings, Inc., |  |  |
| 4.28%, 03/15/2032 |  | 14000 | &nbsp;&nbsp; 12880 |
| 5.05%, 03/15/2042 |  | 38000 | &nbsp;&nbsp; 26790 |
| 5.14%, 03/15/2052 |  | 15000 | &nbsp;&nbsp; 9863 |
| Getty Images, Inc., 10.50%, <br> 11/15/2030<sup>(b)</sup> <br>|  | 51000 | &nbsp;&nbsp; 45185 |
|  |  |  | &nbsp;&nbsp; 94718 |
| **Internet Services & Infrastructure–0.75%** | **Internet Services & Infrastructure–0.75%** | **Internet Services & Infrastructure–0.75%** | **Internet Services & Infrastructure–0.75%** |
| Beignet Investor LLC, 6.58%, <br> 05/30/2049<sup>(b)</sup> <br>|  | 50000 | &nbsp;&nbsp; 53133 |
| CoreWeave, Inc., | CoreWeave, Inc., |  |  |
| 9.25%, 06/01/2030<sup>(b)</sup> <br>|  | 10000 | &nbsp;&nbsp; 9805 |
| 9.00%, 02/01/2031<sup>(b)</sup> <br>|  | 17000 | &nbsp;&nbsp; 16424 |
|  |  |  | &nbsp;&nbsp; 79362 |
| **Leisure Facilities–1.02%** | **Leisure Facilities–1.02%** | **Leisure Facilities–1.02%** | **Leisure Facilities–1.02%** |
| Six Flags Entertainment Corp./Six Flags <br> Theme Parks, Inc./Canada's Wonderland <br> Co., 6.63%, 05/01/2032<sup>(b)</sup> <br>|  | 51000 | &nbsp;&nbsp; 51882 |
| Vail Resorts, Inc., 5.63%, 07/15/2030<sup>(b)</sup> <br>|  | 55000 | &nbsp;&nbsp; 55999 |
|  |  |  | &nbsp;&nbsp; 107881 |
| **Managed Health Care–0.15%** | **Managed Health Care–0.15%** | **Managed Health Care–0.15%** | **Managed Health Care–0.15%** |
| Molina Healthcare, Inc., 6.25%, <br> 01/15/2033<sup>(b)</sup> <br>|  | 16000 | &nbsp;&nbsp; 15752 |
| **Marine Transportation–1.35%** | **Marine Transportation–1.35%** | **Marine Transportation–1.35%** | **Marine Transportation–1.35%** |
| Danaos Corp. (Greece), 6.88%, <br> 10/15/2032<sup>(b)</sup> <br>|  | 37000 | &nbsp;&nbsp; 38189 |
| Viking Cruises Ltd., 5.88%, <br> 10/15/2033<sup>(b)</sup> <br>|  | 102000 | &nbsp;&nbsp; 104116 |
|  |  |  | &nbsp;&nbsp; 142305 |
| **Movies & Entertainment–0.51%** | **Movies & Entertainment–0.51%** | **Movies & Entertainment–0.51%** | **Movies & Entertainment–0.51%** |
| Starz Capital Holdings 1, Inc., 6.00%, <br> 04/15/2030<sup>(b)</sup> <br>|  | 58000 | &nbsp;&nbsp; 54012 |
| **Oil & Gas Drilling–1.04%** | **Oil & Gas Drilling–1.04%** | **Oil & Gas Drilling–1.04%** | **Oil & Gas Drilling–1.04%** |
| Summit Midstream Holdings LLC, 8.63%, <br> 10/31/2029<sup>(b)</sup> <br>|  | 51000 | &nbsp;&nbsp; 53412 |
| Transocean International Ltd., 7.88%, <br> 10/15/2032<sup>(b)</sup> <br>|  | 53000 | &nbsp;&nbsp; 56934 |
|  |  |  | &nbsp;&nbsp; 110346 |
| **Oil & Gas Equipment & Services–0.99%** | **Oil & Gas Equipment & Services–0.99%** | **Oil & Gas Equipment & Services–0.99%** | **Oil & Gas Equipment & Services–0.99%** |
| Bristow Group, Inc., 6.75%, <br> 02/01/2033<sup>(b)</sup> <br>|  | 52000 | &nbsp;&nbsp; 52794 |
| Tidewater, Inc., 9.13%, 07/15/2030<sup>(b)</sup> <br>|  | 48000 | &nbsp;&nbsp; 51962 |
|  |  |  | &nbsp;&nbsp; 104756 |
| **Oil & Gas Exploration & Production–1.98%** | **Oil & Gas Exploration & Production–1.98%** | **Oil & Gas Exploration & Production–1.98%** | **Oil & Gas Exploration & Production–1.98%** |
| Caturus Energy LLC, 8.50%, <br> 02/15/2030<sup>(b)</sup> <br>|  | 74000 | &nbsp;&nbsp; 77372 |
| Comstock Resources, Inc., 6.75%, <br> 03/01/2029<sup>(b)</sup> <br>|  | 53000 | &nbsp;&nbsp; 52835 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**4**

**Invesco SMA High Yield Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Oil & Gas Exploration & Production–(continued)** | **Oil & Gas Exploration & Production–(continued)** | **Oil & Gas Exploration & Production–(continued)** | **Oil & Gas Exploration & Production–(continued)** |
| Hilcorp Energy I L.P./Hilcorp Finance Co., | Hilcorp Energy I L.P./Hilcorp Finance Co., |  |  |
| 8.38%, 11/01/2033<sup>(b)</sup> <br>|  | $50000 | &nbsp;&nbsp; $52793 |
| 6.88%, 05/15/2034<sup>(b)</sup> <br>|  | 11000 | &nbsp;&nbsp; 10776 |
| 7.25%, 02/15/2035<sup>(b)</sup> <br>|  | 15000 | &nbsp;&nbsp; 14866 |
|  |  |  | &nbsp;&nbsp; 208642 |
| **Oil & Gas Refining & Marketing–1.23%** | **Oil & Gas Refining & Marketing–1.23%** | **Oil & Gas Refining & Marketing–1.23%** | **Oil & Gas Refining & Marketing–1.23%** |
| Sunoco L.P., | Sunoco L.P., |  |  |
| 5.63%, 03/15/2031<sup>(b)</sup> <br>|  | 22000 | &nbsp;&nbsp; 22200 |
| 6.25%, 07/01/2033<sup>(b)</sup> <br>|  | 41000 | &nbsp;&nbsp; 42249 |
| 5.88%, 03/15/2034<sup>(b)</sup> <br>|  | 39000 | &nbsp;&nbsp; 39175 |
| 7.88%<sup>(b)(e)(f)</sup> <br>|  | 25000 | &nbsp;&nbsp; 25861 |
|  |  |  | &nbsp;&nbsp; 129485 |
| **Oil & Gas Storage & Transportation–6.31%** | **Oil & Gas Storage & Transportation–6.31%** | **Oil & Gas Storage & Transportation–6.31%** | **Oil & Gas Storage & Transportation–6.31%** |
| Antero Midstream Partners L.P./Antero <br> Midstream Finance Corp., | Antero Midstream Partners L.P./Antero <br> Midstream Finance Corp., |  |  |
| 6.63%, 02/01/2032<sup>(b)</sup> <br>|  | 50000 | &nbsp;&nbsp; 52005 |
| 5.75%, 07/01/2034<sup>(b)</sup> <br>|  | 52000 | &nbsp;&nbsp; 52837 |
| Excelerate Energy L.P., 8.00%, <br> 05/15/2030<sup>(b)</sup> <br>|  | 51000 | &nbsp;&nbsp; 54086 |
| Genesis Energy L.P./Genesis Energy Finance <br> Corp., | Genesis Energy L.P./Genesis Energy Finance <br> Corp., |  |  |
| 7.88%, 05/15/2032 |  | 33000 | &nbsp;&nbsp; 34565 |
| 8.00%, 05/15/2033 |  | 39000 | &nbsp;&nbsp; 41259 |
| 6.75%, 03/15/2034 |  | 29000 | &nbsp;&nbsp; 29351 |
| Global Partners L.P./GLP Finance Corp., <br> 7.13%, 07/01/2033<sup>(b)</sup> <br>|  | 55000 | &nbsp;&nbsp; 57011 |
| Northriver Midstream Finance L.P. <br> (Canada), 6.75%, 07/15/2032<sup>(b)</sup> <br>|  | 51000 | &nbsp;&nbsp; 52475 |
| Prairie Acquiror L.P., 9.00%, <br> 08/01/2029<sup>(b)</sup> <br>|  | 51000 | &nbsp;&nbsp; 53434 |
| Venture Global LNG, Inc., | Venture Global LNG, Inc., |  |  |
| 9.88%, 02/01/2032<sup>(b)</sup> <br>|  | 73000 | &nbsp;&nbsp; 77393 |
| 9.00%<sup>(b)(e)(f)</sup> <br>|  | 60500 | &nbsp;&nbsp; 52956 |
| Venture Global Plaquemines LNG LLC, | Venture Global Plaquemines LNG LLC, |  |  |
| 6.13%, 12/15/2030<sup>(b)</sup> <br>|  | 29000 | &nbsp;&nbsp; 30140 |
| 6.50%, 01/15/2034<sup>(b)</sup> <br>|  | 19000 | &nbsp;&nbsp; 20006 |
| 6.75%, 01/15/2036<sup>(b)</sup> <br>|  | 55000 | &nbsp;&nbsp; 58619 |
|  |  |  | &nbsp;&nbsp; 666137 |
| **Other Specialized REITs–0.51%** | **Other Specialized REITs–0.51%** | **Other Specialized REITs–0.51%** | **Other Specialized REITs–0.51%** |
| Iron Mountain, Inc., 4.50%, <br> 02/15/2031<sup>(b)</sup> <br>|  | 56000 | &nbsp;&nbsp; 54055 |
| **Other Specialty Retail–0.50%** | **Other Specialty Retail–0.50%** | **Other Specialty Retail–0.50%** | **Other Specialty Retail–0.50%** |
| Michaels Companies, Inc. (The), | Michaels Companies, Inc. (The), |  |  |
| 8.50%, 03/15/2033<sup>(b)</sup> <br>|  | 45000 | &nbsp;&nbsp; 43812 |
| 11.00%, 03/15/2034<sup>(b)</sup> <br>|  | 9000 | &nbsp;&nbsp; 8420 |
| SGUS LLC, 11.00%, 12/31/2049<sup>(b)(c)</sup> <br>|  | 13710 | &nbsp;&nbsp; 377 |
|  |  |  | &nbsp;&nbsp; 52609 |
| **Paper & Plastic Packaging Products & Materials–0.73%** | **Paper & Plastic Packaging Products & Materials–0.73%** | **Paper & Plastic Packaging Products & Materials–0.73%** | **Paper & Plastic Packaging Products & Materials–0.73%** |
| Clydesdale Acquisition Holdings, Inc., | Clydesdale Acquisition Holdings, Inc., |  |  |
| 8.75%, 04/15/2030<sup>(b)</sup> <br>|  | 26000 | &nbsp;&nbsp; 25907 |
| 6.75%, 04/15/2032<sup>(b)</sup> <br>|  | 51000 | &nbsp;&nbsp; 51425 |
|  |  |  | &nbsp;&nbsp; 77332 |
| **Passenger Airlines–3.24%** | **Passenger Airlines–3.24%** | **Passenger Airlines–3.24%** | **Passenger Airlines–3.24%** |
| American Airlines, Inc./AAdvantage Loyalty <br> IP Ltd., 5.75%, 04/20/2029<sup>(b)</sup> <br>|  | 78000 | &nbsp;&nbsp; 78935 |
| CHC Group LLC, 11.75%, 09/01/2030<sup>(b)</sup> <br>|  | 51000 | &nbsp;&nbsp; 50350 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Passenger Airlines–(continued)** | **Passenger Airlines–(continued)** | **Passenger Airlines–(continued)** | **Passenger Airlines–(continued)** |
| United Airlines Holdings, Inc., | United Airlines Holdings, Inc., |  |  |
| 4.88%, 03/01/2029 |  | $84000 | &nbsp;&nbsp; $84816 |
| 5.38%, 03/01/2031 |  | 126000 | &nbsp;&nbsp; 128622 |
|  |  |  | &nbsp;&nbsp; 342723 |
| **Pharmaceuticals–1.96%** | **Pharmaceuticals–1.96%** | **Pharmaceuticals–1.96%** | **Pharmaceuticals–1.96%** |
| 1261229 BC Ltd., 10.00%, <br> 04/15/2032<sup>(b)</sup> <br>|  | 38000 | &nbsp;&nbsp; 39330 |
| Amneal Pharmaceuticals LLC, 6.88%, <br> 08/01/2032<sup>(b)</sup> <br>|  | 60000 | &nbsp;&nbsp; 63155 |
| Endo Finance Holdings L.P., 8.50%, <br> 04/15/2031<sup>(b)</sup> <br>|  | 49000 | &nbsp;&nbsp; 52108 |
| Teva Pharmaceutical Finance Netherlands <br> III B.V. (Israel), 4.10%, 10/01/2046<br>|  | 68000 | &nbsp;&nbsp; 52310 |
|  |  |  | &nbsp;&nbsp; 206903 |
| **Property & Casualty Insurance–0.76%** | **Property & Casualty Insurance–0.76%** | **Property & Casualty Insurance–0.76%** | **Property & Casualty Insurance–0.76%** |
| Asurion LLC and Asurion Co-Issuer, Inc., | Asurion LLC and Asurion Co-Issuer, Inc., |  |  |
| 8.00%, 12/31/2032<sup>(b)</sup> <br>|  | 53000 | &nbsp;&nbsp; 55712 |
| 8.38%, 02/01/2034<sup>(b)</sup> <br>|  | 25000 | &nbsp;&nbsp; 24895 |
|  |  |  | &nbsp;&nbsp; 80607 |
| **Real Estate Development–0.99%** | **Real Estate Development–0.99%** | **Real Estate Development–0.99%** | **Real Estate Development–0.99%** |
| Cushman & Wakefield U.S. Borrower LLC, <br> 8.88%, 09/01/2031<sup>(b)</sup> <br>|  | 51000 | &nbsp;&nbsp; 54012 |
| Greystar Real Estate Partners LLC, 7.75%, <br> 09/01/2030<sup>(b)</sup> <br>|  | 48000 | &nbsp;&nbsp; 50311 |
|  |  |  | &nbsp;&nbsp; 104323 |
| **Research & Consulting Services–0.24%** | **Research & Consulting Services–0.24%** | **Research & Consulting Services–0.24%** | **Research & Consulting Services–0.24%** |
| Clarivate Science Holdings Corp., 4.88%, <br> 07/01/2029<sup>(b)</sup> <br>|  | 31000 | &nbsp;&nbsp; 25464 |
| **Restaurants–0.76%** | **Restaurants–0.76%** | **Restaurants–0.76%** | **Restaurants–0.76%** |
| 1011778 BC ULC/New Red Finance, Inc. <br> (Canada), 4.00%, 10/15/2030<sup>(b)</sup> <br>|  | 84000 | &nbsp;&nbsp; 80719 |
| **Security & Alarm Services–0.97%** | **Security & Alarm Services–0.97%** | **Security & Alarm Services–0.97%** | **Security & Alarm Services–0.97%** |
| Brink's Co. (The), 6.75%, 06/15/2032<sup>(b)</sup> <br>|  | 99000 | &nbsp;&nbsp; 102543 |
| **Semiconductors–0.42%** | **Semiconductors–0.42%** | **Semiconductors–0.42%** | **Semiconductors–0.42%** |
| AP Grange Holdings LLC, | AP Grange Holdings LLC, |  |  |
| 6.50%, 03/20/2045<sup>(b)</sup> <br>|  | 39000 | &nbsp;&nbsp; 41194 |
| 6.50%, 03/20/2045 |  | 2991 | &nbsp;&nbsp; 2991 |
|  |  |  | &nbsp;&nbsp; 44185 |
| **Specialized Consumer Services–0.78%** | **Specialized Consumer Services–0.78%** | **Specialized Consumer Services–0.78%** | **Specialized Consumer Services–0.78%** |
| Carriage Services, Inc., 4.25%, <br> 05/15/2029<sup>(b)</sup> <br>|  | 85000 | &nbsp;&nbsp; 81911 |
| **Specialized Finance–1.47%** | **Specialized Finance–1.47%** | **Specialized Finance–1.47%** | **Specialized Finance–1.47%** |
| HA Sustainable Infrastructure Capital, Inc., | HA Sustainable Infrastructure Capital, Inc., |  |  |
| 8.00%, 06/01/2056<sup>(e)</sup> <br>|  | 51000 | &nbsp;&nbsp; 53734 |
| 7.13%, 11/15/2056<sup>(e)</sup> <br>|  | 25000 | &nbsp;&nbsp; 24999 |
| TrueNoord Capital DAC (Ireland), 8.75%, <br> 03/01/2030<sup>(b)</sup> <br>|  | 72000 | &nbsp;&nbsp; 76106 |
|  |  |  | &nbsp;&nbsp; 154839 |
| **Specialty Chemicals–0.50%** | **Specialty Chemicals–0.50%** | **Specialty Chemicals–0.50%** | **Specialty Chemicals–0.50%** |
| Celanese US Holdings LLC, | Celanese US Holdings LLC, |  |  |
| 7.20%, 11/15/2033 |  | 35000 | &nbsp;&nbsp; 37628 |
| 7.38%, 02/15/2034 |  | 15000 | &nbsp;&nbsp; 15419 |
|  |  |  | &nbsp;&nbsp; 53047 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**5**

**Invesco SMA High Yield Bond Fund**

------

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal**<br> **Amount** | &nbsp;&nbsp; **Principal**<br> **Amount** | **Value** |
| **Trading Companies & Distributors–0.99%** | **Trading Companies & Distributors–0.99%** | **Trading Companies & Distributors–0.99%** | **Trading Companies & Distributors–0.99%** |
| Air Lease Corp., Series B, 4.65%<sup>(e)(f)</sup> <br>|  | $53000 | &nbsp;&nbsp; $52972 |
| Aircastle Ltd., 5.25%<sup>(b)(e)(f)</sup> <br>|  | 52000 | &nbsp;&nbsp; 52007 |
|  |  |  | &nbsp;&nbsp; 104979 |
| **Wireless Telecommunication Services–1.05%** | **Wireless Telecommunication Services–1.05%** | **Wireless Telecommunication Services–1.05%** | **Wireless Telecommunication Services–1.05%** |
| Vodafone Group PLC (United Kingdom), <br> 4.13%, 06/04/2081<sup>(e)</sup> <br>|  | 117000 | &nbsp;&nbsp; 110869 |
| Total U.S. Dollar Denominated Bonds & Notes <br> (Cost $9,677,809) | Total U.S. Dollar Denominated Bonds & Notes <br> (Cost $9,677,809) | Total U.S. Dollar Denominated Bonds & Notes <br> (Cost $9,677,809) | &nbsp;&nbsp; 9870652 |
| **Non-U.S. Dollar Denominated Bonds & Notes–1.11%**<sup>(g)</sup>  | **Non-U.S. Dollar Denominated Bonds & Notes–1.11%**<sup>(g)</sup>  | **Non-U.S. Dollar Denominated Bonds & Notes–1.11%**<sup>(g)</sup>  | **Non-U.S. Dollar Denominated Bonds & Notes–1.11%**<sup>(g)</sup>  |
| **Marine Transportation–1.11%** | **Marine Transportation–1.11%** | **Marine Transportation–1.11%** | **Marine Transportation–1.11%** |
| CMA CGM S.A. (France), 4.88%, <br> 01/15/2032<sup>(b)</sup> <br>(Cost $112,732)<br>| EUR | 100000 | &nbsp;&nbsp; 117047 |
|  | <br>**Shares** | <br>**Shares** |  |
| **Preferred Stocks–0.41%** | **Preferred Stocks–0.41%** | **Preferred Stocks–0.41%** | **Preferred Stocks–0.41%** |
| **Electric Utilities–0.26%** | **Electric Utilities–0.26%** | **Electric Utilities–0.26%** | **Electric Utilities–0.26%** |
| NextEra Energy, Inc., 7.38%, Conv. Pfd. | NextEra Energy, Inc., 7.38%, Conv. Pfd. | 552 | &nbsp;&nbsp; 27600 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; <br> **Shares** | &nbsp;&nbsp; <br> **Shares** | **Value** |
| **Household Appliances–0.15%** | **Household Appliances–0.15%** | **Household Appliances–0.15%** |
| Whirlpool Corp., 8.50%, Class A, Pfd. | 323 | &nbsp;&nbsp; $16102 |
| Total Preferred Stocks (Cost $43,750) | Total Preferred Stocks (Cost $43,750) | &nbsp;&nbsp; 43702 |
| **Money Market Funds–1.03%** | **Money Market Funds–1.03%** | **Money Market Funds–1.03%** |
| Invesco Government & Agency Portfolio, <br> Institutional Class, 3.59%<sup>(h)(i)</sup>  | 38360 | &nbsp;&nbsp; 38360 |
| Invesco Treasury Portfolio, Institutional Class, <br> 3.56%<sup>(h)(i)</sup>  | 71134 | &nbsp;&nbsp; 71134 |
| Total Money Market Funds (Cost $109,494) | Total Money Market Funds (Cost $109,494) | &nbsp;&nbsp; 109494 |
| TOTAL INVESTMENTS IN SECURITIES–95.97% <br> (Cost $9,943,785) | TOTAL INVESTMENTS IN SECURITIES–95.97% <br> (Cost $9,943,785) | &nbsp;&nbsp; 10140895 |
| OTHER ASSETS LESS LIABILITIES—4.03% | OTHER ASSETS LESS LIABILITIES—4.03% | &nbsp;&nbsp; 425297 |
| NET ASSETS–100.00% | NET ASSETS–100.00% | &nbsp;&nbsp; $10566192 |

---

Investment Abbreviations:

---

| | |
|:---|:---|
| Conv. | – Convertible |
| EUR | – Euro |
| Pfd. | – Preferred |
| PIK | – Pay-in-Kind |
| 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> Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at February 28, 2026 was $8,423,904, which represented 79.73% of the Fund's Net Assets. 

<sup>(c)</sup> Defaulted security. Currently, the issuer is in default with respect to principal and/or interest payments. The aggregate value of these securities at February 28, 2026 was $592, which represented less than 1% of the Fund's Net Assets. 

<sup>(d)</sup> All or a portion of this security is Pay-in-Kind. Pay-in-Kind securities pay interest income in the form of securities.

<sup>(e)</sup> Security issued at a fixed rate for a specific period of time, after which it will convert to a variable rate.

<sup>(f)</sup> Perpetual bond with no specified maturity date.

<sup>(g)</sup> Foreign denominated security. Principal amount is denominated in the currency indicated.

<sup>(h)</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 fiscal year ended February 28, 2026. 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**February 28, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**February 28, 2026**<br>| **Dividend Income** |
| Invesco Senior Loan ETF | $- | &nbsp;&nbsp; $311700 | &nbsp;&nbsp; $(313800) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $2100 | &nbsp;&nbsp; $- | &nbsp;&nbsp; $11603 |
| **Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| Invesco Government & Agency Portfolio, Institutional <br> Class<br>| 111921 | &nbsp;&nbsp; 2209474 | &nbsp;&nbsp; (2283035) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 38360 | &nbsp;&nbsp; 4086 |
| Invesco Treasury Portfolio, Institutional Class\* | 207692 | &nbsp;&nbsp; 4103308 | &nbsp;&nbsp; (4239866) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 71134 | &nbsp;&nbsp; 7058 |
| Total | $319613 | &nbsp;&nbsp; $6624482 | &nbsp;&nbsp; $(6836701) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $2100 | &nbsp;&nbsp; $109494 | &nbsp;&nbsp; $22747 |

---

\* Includes return of capital distribution.

<sup>(i)</sup> The rate shown is the 7-day SEC standardized yield as of February 28, 2026.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  |
| **Short Futures Contracts** | &nbsp;&nbsp; **Number of**<br> **Contracts**<br>| &nbsp;&nbsp;&nbsp; **Expiration**<br> **Month**<br>| &nbsp;&nbsp; **Notional**<br> **Value**<br>| **Value** | &nbsp;&nbsp; **Unrealized**<br> **Appreciation**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)**<br>|
| **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** | **Interest Rate Risk** |
| U.S. Treasury 10 Year Ultra Notes | &nbsp;&nbsp;&nbsp; 4 | June-2026 | &nbsp;&nbsp;&nbsp; $(466938)<br>| &nbsp;&nbsp;&nbsp; $(2507)<br>| &nbsp;&nbsp;&nbsp; $(2507)<br>|

---

<sup>(a)</sup> Futures contracts collateralized by $11,220 cash held with Merrill Lynch International, the futures commission merchant.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**6**

**Invesco SMA High Yield Bond Fund**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** |
| **Settlement** <br>**Date** | **Counterparty** | **Contract to** | **Contract to** | **Contract to** | **Contract to** | &nbsp;&nbsp; **Unrealized** <br>**Appreciation** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)** |
| **Settlement** <br>**Date** | **Counterparty** | **Deliver** | **Deliver** | **Receive** | **Receive** | &nbsp;&nbsp; **Unrealized** <br>**Appreciation** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)** |
| **Currency Risk** |  |  |  |  |  |  |
| 04/28/2026 | Goldman Sachs International | EUR | 390000 | USD | 460067 | &nbsp;&nbsp;&nbsp; $(1991)<br>|

---

Abbreviations: <br> EUR – Euro <br> USD – U.S. Dollar

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**7**

**Invesco SMA High Yield Bond Fund**

------

**Statement of Assets and Liabilities**

*February 28, 2026*

---

| | |
|:---|:---|
| **Assets:** |  |
| Investments in unaffiliated securities, at value <br>(Cost $9,834,291)<br>| &nbsp;&nbsp; $10031401 |
| Investments in affiliated money market funds, at value <br> (Cost $109,494)<br>| &nbsp;&nbsp; 109494 |
| Other investments: |  |
| Variation margin receivable — futures contracts | &nbsp;&nbsp; 9653 |
| Deposits with brokers: |  |
| Cash collateral — exchange-traded futures contracts | &nbsp;&nbsp; 11220 |
| Foreign currencies, at value (Cost $391,295) | &nbsp;&nbsp; 390425 |
| Receivable for: |  |
| Investments sold | &nbsp;&nbsp; 38282 |
| Fund expenses absorbed | &nbsp;&nbsp; 68397 |
| Dividends | &nbsp;&nbsp; 448 |
| Interest | &nbsp;&nbsp; 180333 |
| Investment for trustee deferred compensation and <br> retirement plans<br>| &nbsp;&nbsp; 13387 |
| Other assets | &nbsp;&nbsp; 16221 |
| Total assets | &nbsp;&nbsp; 10869261 |
| **Liabilities:** |  |
| Other investments: |  |
| Unrealized depreciation on forward foreign currency <br> contracts outstanding<br>| &nbsp;&nbsp; 1991 |
| Payable for: |  |
| Investments purchased | &nbsp;&nbsp; 142521 |
| Dividends | &nbsp;&nbsp; 58123 |
| Fund shares reacquired | &nbsp;&nbsp; 853 |
| Amount due to custodian | &nbsp;&nbsp; 1188 |
| Accrued fees to affiliates | &nbsp;&nbsp; 365 |
| Accrued trustees' and officers' fees and benefits | &nbsp;&nbsp; 2257 |
| Accrued other operating expenses | &nbsp;&nbsp; 14392 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 13387 |
| Professional fees | &nbsp;&nbsp; 67992 |
| Total liabilities | &nbsp;&nbsp; 303069 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $10566192 |

---

---

| | |
|:---|:---|
| **Net assets consist of:** |  |
| Shares of beneficial interest | &nbsp;&nbsp; $10385818 |
| Distributable earnings | &nbsp;&nbsp; 180374 |
|  | &nbsp;&nbsp; $10566192 |
| **Shares outstanding, no par value, with an** <br> **unlimited number of shares authorized:**<br>|  |
| Shares outstanding | &nbsp;&nbsp; 1037850 |
| Net asset value and offering price per share | &nbsp;&nbsp; $10.18 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**8**

**Invesco SMA High Yield Bond Fund**

------

**Statement of Operations**

*For the year ended February 28, 2026* 

---

| | |
|:---|:---|
| **Investment income:** |  |
| Interest | &nbsp;&nbsp; $665971 |
| Dividends from affiliates | &nbsp;&nbsp; 22747 |
| Total investment income | &nbsp;&nbsp; 688718 |
| **Expenses:** |  |
| Administrative services fees | &nbsp;&nbsp; 1486 |
| Custodian fees | &nbsp;&nbsp; 4237 |
| Transfer agent fees | &nbsp;&nbsp; 3224 |
| Trustees' and officers' fees and benefits | &nbsp;&nbsp; 22617 |
| Registration and filing fees | &nbsp;&nbsp; 22850 |
| Reports to shareholders | &nbsp;&nbsp; 8302 |
| Professional services fees | &nbsp;&nbsp; 89654 |
| Other | &nbsp;&nbsp; 2606 |
| Total expenses | &nbsp;&nbsp; 154976 |
| Less: Fees waived and/or expenses reimbursed | &nbsp;&nbsp; (154971)<br>|
| Net expenses | &nbsp;&nbsp; 5 |
| Net investment income | &nbsp;&nbsp; 688713 |
| **Realized and unrealized gain (loss) from:** |  |
| Net realized gain (loss) from: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 57803 |
| Affiliated investment securities | &nbsp;&nbsp; 2100 |
| Foreign currencies | &nbsp;&nbsp; 3383 |
| Forward foreign currency contracts | &nbsp;&nbsp; (26766)<br>|
| Futures contracts | &nbsp;&nbsp; (7762)<br>|
|  | &nbsp;&nbsp; 28758 |
| Change in net unrealized appreciation (depreciation) of: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; (28)<br>|
| Foreign currencies | &nbsp;&nbsp; (822)<br>|
| Forward foreign currency contracts | &nbsp;&nbsp; (2520)<br>|
| Futures contracts | &nbsp;&nbsp; (2507)<br>|
|  | &nbsp;&nbsp; (5877)<br>|
| Net realized and unrealized gain | &nbsp;&nbsp; 22881 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $711594 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**9**

**Invesco SMA High Yield Bond Fund**

------

**Statement of Changes in Net Assets**

*For the years ended February 28, 2026 and 2025* 

---

| | | |
|:---|:---|:---|
|  | **2026** | **2025** |
| **Operations:** |  |  |
| Net investment income | &nbsp;&nbsp; $688713 | &nbsp;&nbsp; $739099 |
| Net realized gain | &nbsp;&nbsp; 28758 | &nbsp;&nbsp; 203279 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp; (5877)<br>| &nbsp;&nbsp; (50305)<br>|
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 711594 | &nbsp;&nbsp; 892073 |
| Distributions to shareholders from distributable earnings | &nbsp;&nbsp; (760059)<br>| &nbsp;&nbsp; (883023)<br>|
| Net increase in net assets resulting from share transactions | &nbsp;&nbsp; 24906 | &nbsp;&nbsp; 360902 |
| Net increase (decrease) in net assets | &nbsp;&nbsp; (23559)<br>| &nbsp;&nbsp; 369952 |
| **Net assets:** |  |  |
| Beginning of year | &nbsp;&nbsp; 10589751 | &nbsp;&nbsp; 10219799 |
| End of year | &nbsp;&nbsp; $10566192 | &nbsp;&nbsp; $10589751 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**10**

**Invesco SMA High Yield Bond Fund**

------

**Financial Highlights**

The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.

---

| | | | |
|:---|:---|:---|:---|
|  | **Year Ended** <br>**February 28,** | **Year Ended** <br>**February 28,** | &nbsp;&nbsp; **Period Ended** <br>**February 29,** <br>**2024**<sup>(a)</sup>  |
|  | **2026** | **2025** | &nbsp;&nbsp; **Period Ended** <br>**February 29,** <br>**2024**<sup>(a)</sup>  |
| Net asset value, beginning of period | &nbsp;&nbsp;&nbsp; $10.23 | &nbsp;&nbsp;&nbsp; $10.22 | &nbsp;&nbsp;&nbsp; $10.00 |
| Net investment income<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;0.66 | &nbsp;&nbsp;&nbsp;&nbsp;0.73 | &nbsp;&nbsp;&nbsp;&nbsp;0.77 |
| Net gains on securities (both realized and unrealized) | &nbsp;&nbsp;&nbsp;&nbsp;0.03 | &nbsp;&nbsp;&nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;&nbsp;0.24 |
| Total from investment operations | &nbsp;&nbsp;&nbsp;&nbsp;0.69 | &nbsp;&nbsp;&nbsp;&nbsp;0.87 | &nbsp;&nbsp;&nbsp;&nbsp;1.01 |
| Less: |  |  |  |
| Dividends from net investment income | &nbsp;&nbsp;&nbsp; (0.70)<br>| &nbsp;&nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp;&nbsp; (0.78)<br>|
| Distributions from net realized gains | &nbsp;&nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp;&nbsp; (0.01)<br>|
| Total distributions | &nbsp;&nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp;&nbsp; (0.86)<br>| &nbsp;&nbsp;&nbsp; (0.79)<br>|
| Net asset value, end of period | &nbsp;&nbsp;&nbsp; $10.18 | &nbsp;&nbsp;&nbsp; $10.23 | &nbsp;&nbsp;&nbsp; $10.22 |
| Total return<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 6.93<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8.85<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10.35<br> %<br>|
| Net assets, end of period (000's omitted) | &nbsp;&nbsp;&nbsp; $10566 | &nbsp;&nbsp;&nbsp; $10590 | &nbsp;&nbsp;&nbsp; $10220 |
| Portfolio turnover rate<sup>(d)</sup> <br>| &nbsp;&nbsp;&nbsp; 121<br> %<br>| &nbsp;&nbsp;&nbsp; 126<br> %<br>| &nbsp;&nbsp;&nbsp; 123<br> %<br>|
| **Ratios/supplemental data based on average net assets:** |  |  |  |
| Ratio of expenses: |  |  |  |
| With fee waivers and/or expense reimbursements | &nbsp;&nbsp;&nbsp;&nbsp; 0.00<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.00<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.01 %<sup>(e)</sup><br>|
| Without fee waivers and/or expense reimbursements | &nbsp;&nbsp;&nbsp;&nbsp; 1.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.51<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.65 %<sup>(e)</sup><br>|
| Ratio of net investment income to average net assets | &nbsp;&nbsp;&nbsp;&nbsp; 6.54<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.05<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.55 %<sup>(e)</sup><br>|

---

<sup>(a)</sup> Commencement date of March 1, 2023.

<sup>(b)</sup> Calculated using average shares outstanding.

<sup>(c)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Not annualized for periods less than one year, if applicable. 

<sup>(d)</sup> Portfolio turnover is not annualized for periods less than one year, if applicable.

<sup>(e)</sup> Annualized.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**11**

**Invesco SMA High Yield Bond Fund**

------

**Notes to Financial Statements**

*February 28, 2026*

**NOTE 1—Significant Accounting Policies**

Invesco SMA High Yield Bond Fund (the "Fund") is a series portfolio of AIM Investment Securities Funds (Invesco Investment Securities Funds) (the "Trust"). The Trust is organized as a Delaware statutory trust and is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company authorized to issue an unlimited number of shares of beneficial interest. Information presented in these financial statements pertains only to the Fund. Matters affecting the Fund will be voted on exclusively by the shareholders of the Fund.

The Fund's investment objective is total return through growth of capital and current income.

The Fund commenced operations on March 1, 2023. Shares of the Fund may be purchased and held by or on behalf of wrap fee, separately managed and other discretionary accounts ("SMAs") for which Invesco Advisers, Inc (the "Adviser" or "Invesco") or its affiliates have an agreement with a program sponsor or directly with the client, to provide management or advisory services to the account.

The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies*.

The following is a summary of the significant accounting policies followed by the Fund in the preparation of its financial statements.

**A.** **Security Valuations** – Securities, including restricted securities, are valued according to the following policy.

Fixed income securities (including convertible debt securities) generally are valued on the basis of prices provided by independent pricing services. Prices provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate (for unlisted equities), yield (for debt obligations), quality, type of issue, coupon rate (for debt obligations), maturity (for debt obligations), individual trading characteristics and other market data. Pricing services generally value debt obligations assuming orderly transactions of institutional round lot size, but a fund may hold or transact in the same securities in smaller, odd lot sizes. Odd lots often trade at lower prices than institutional round lots, and their value may be adjusted accordingly. Debt obligations are subject to interest rate and credit risks. In addition, all debt obligations involve some risk of default with respect to interest and/or principal payments.

A security listed or traded on an exchange is generally valued at its trade price or official closing price that day as of the close of the exchange where the security is principally traded, or lacking any trades or official closing price on a particular day, the security may be valued at the closing bid or ask price on that day. Securities traded in the over-the-counter market are valued based on prices furnished by independent pricing services or market makers. When such securities are valued using prices provided by an independent pricing service they may be considered fair valued. Futures contracts are valued at the daily settlement price set by an exchange on which they are principally traded. Where a final settlement price exists, exchange-traded options are valued at the final settlement price from the exchange where the option principally trades, as of the approximate official closing time of that exchange. Where a final settlement price does not exist, exchange-traded options are valued at the mean between the last bid and ask price generally from the exchange where the option principally trades.

Securities of investment companies that are not exchange-traded (e.g., open-end mutual funds) are valued using such company's end-of-business-day net asset value per share.

Deposits, other obligations of U.S. and non-U.S. banks and financial institutions are valued at their daily account value.

Swap agreements are fair valued using an evaluated quote, if available, provided by an independent pricing service. Evaluated quotes provided by the pricing service are valued based on a model which may include end-of-day net present values, spreads, ratings, industry, company performance and returns of referenced assets. Centrally cleared swap agreements are valued at the daily settlement price determined by the relevant exchange or clearinghouse.

Foreign securities' (including foreign exchange contracts) prices are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the New York Stock Exchange ("NYSE"). If market quotations are available and reliable for foreign exchange-traded equity securities, the securities will be valued at the market quotations. Invesco Advisers, Inc. (the "Adviser" or "Invesco") may use various pricing services to obtain market quotations as well as fair value prices. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become not representative of market value in the Adviser's judgment ("unreliable"). If, between the time trading ends on a particular security and the close of the customary trading session on the NYSE, a significant event occurs that makes the closing price of the security unreliable, the Adviser may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith in accordance with Board- approved policies and related Adviser procedures ("Valuation Procedures"). Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities' prices meeting the degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, American Depositary Receipts and domestic and foreign index futures. Foreign securities may have additional risks including exchange rate changes, potential for sharply devalued currencies and high inflation, political and economic upheaval, the relative lack of issuer information, relatively low market liquidity and the potential lack of strict financial and accounting controls and standards.

Private securities will be valued using prices provided by independent pricing services or by another method that the Adviser, in its judgment, believes better reflects the security's fair value in accordance with the Valuation Procedures.

Non-traded rights and warrants shall be valued at intrinsic value if the terms of the rights and warrants are available, specifically the subscription or exercise price and the ratio. Intrinsic value is calculated as the daily market closing price of the security to be received less the subscription price, which is then adjusted by the exercise ratio. In the case of warrants, an option pricing model supplied by an independent pricing service may be used based on market data such as volatility, stock price and interest rate from the independent pricing service and strike price and exercise period from verified terms.

Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources. The mean between the last bid and ask prices may be used to value debt obligations, including corporate loans.

Securities for which market quotations are not readily available are fair valued by the Adviser in accordance with the Valuation Procedures. If a fair value price provided by a pricing service is unreliable, the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value.

The Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer's assets, general market conditions which are not specifically related to the particular issuer, such as real or perceived adverse economic conditions, changes in the general outlook for revenues or corporate earnings, changes in interest or currency rates, regional or global instability, natural or environmental disasters, widespread disease or other public health issues, war, military conflicts, acts of terrorism, economic crises, economic sanctions and tariffs, significant governmental actions or adverse investor sentiment generally and market liquidity. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

**12**

**Invesco SMA High Yield Bond Fund**

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The price the Fund could receive upon the sale of any investment may differ from the Adviser's valuation of the investment, particularly for securities that are valued using a fair valuation technique. When fair valuation techniques are applied, the Adviser uses available information, including both observable and unobservable inputs and assumptions, to determine a methodology that will result in a valuation that the Adviser believes approximates market value. Fund securities that are fair valued may be subject to greater fluctuation in their value from one day to the next than would be the case if market quotations were used. Because of the inherent uncertainties of valuation, and the degree of subjectivity in such decisions, the Fund could realize a greater or lesser than expected gain or loss upon the sale of the investment.

**B.** **Securities Transactions and Investment Income** – Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on an accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Pay-in-kind interest income and non-cash dividend income received in the form of securities in lieu of cash are recorded at the fair value of the securities received. Paydown gains and losses on mortgage and asset-backed securities are recorded as adjustments to interest income. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date.

The Fund may periodically participate in litigation related to Fund investments. As such, the Fund may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.

Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the investment adviser.

**C.** **Country Determination** — For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted.

**D.** **Distributions** – Distributions from net investment income, if any, are declared daily and paid monthly. Distributions from net realized capital gain, if any, are generally declared and paid annually and recorded on the ex-dividend date. The Fund may elect to treat a portion of the proceeds from redemptions as distributions for federal income tax purposes.

**E.** **Federal Income Taxes –** The Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Fund's taxable earnings to shareholders. As such, the Fund will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions.

The Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual periods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid by jurisdiction, while removing certain disclosure requirements. The Fund did not pay any material income taxes, net of refunds during the period.

**F.** **Accounting Estimates** – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**G.** **Indemnifications** – Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**H.** **Segment Reporting** — The Fund represents a single operating segment, in accordance with ASC 280, Segment Reporting. Subject to the oversight and, when applicable, approval of the Board of Trustees, portfolio managers and senior executives at the Adviser act as the Fund's chief operating decision maker ("CODM"), assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements.

**I.** **Foreign Currency Translations** — Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates.

The Fund may invest in foreign securities, which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Foreign taxes, if any, are recorded based on the tax regulations and rates that exist in the foreign markets in which the Fund invests and are shown in the Statement of Operations.

**13**

**Invesco SMA High Yield Bond Fund**

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The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar. Currency rates in foreign countries may fluctuate for a number of reasons, including changes in interest rates, political, economic, or social instability and development, and imposition of currency controls. Currency controls in certain foreign jurisdictions may cause the Fund to experience significant delays in its ability to repatriate its assets in U.S. dollars at quoted spot rates, and it is possible that the Fund's ability to convert certain foreign currencies into U.S. dollars may be limited and may occur at discounts to quoted rates. As a result, the value of the Fund's assets and liabilities denominated in such currencies that would ultimately be realized could differ from those reported on the Statement of Assets and Liabilities. Certain foreign companies may be subject to sanctions, embargoes, or other governmental actions that may limit the ability to invest in, receive, hold, or sell the securities of such companies, all of which affect the market and/or credit risk of the investments. 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.

**J.** **Forward Foreign Currency Contracts** — The Fund may engage in foreign currency transactions either on a spot (i.e. for prompt delivery and settlement) basis, or through forward foreign currency contracts, to manage or minimize currency or exchange rate risk.

The Fund may also enter into forward foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security, or the Fund may also enter into forward foreign currency contracts that do not provide for physical exchange of the two currencies on the settlement date, but instead are settled by a single cash payment calculated as the difference between the agreed upon exchange rate and the spot rate at settlement based upon an agreed upon notional amount (non-deliverable forwards).

A forward foreign currency contract is an obligation between two parties ("Counterparties") to purchase or sell a specific currency for an agreed-upon price at a future date. The use of forward foreign currency contracts for hedging does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with forward foreign currency contracts include failure of the Counterparty to meet the terms of the contract and the value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities.

**K.** **Other Risks** - Active trading of portfolio securities may result in added expenses, a lower return and increased tax liability.

Fluctuations in the federal funds and equivalent foreign rates or other changes to monetary policy or regulatory actions may expose fixed income markets to heightened volatility, perhaps suddenly and to a significant degree, and to reduced liquidity for certain fixed income investments, particularly those with longer maturities. Such changes and resulting increased volatility may adversely impact the Fund, including its operations, universe of potential investment options, and return potential. It is difficult to predict the impact of interest rate changes on various markets. In addition, decreases in fixed income dealer market-making capacity may also potentially lead to heightened volatility and reduced liquidity in the fixed income markets. As a result, the value of the Fund's investments and share price may decline. Changes in central bank policies and other governmental actions and political events within the U.S. and abroad may also, among other things, affect investor and consumer expectations and confidence in the financial markets. This could result in higher than normal redemptions by shareholders, which could potentially increase the Fund's portfolio turnover rate and transaction costs.

Investments in the securities of non-U.S. issuers involve risks beyond those associated with investments in U.S. securities. Foreign securities may have relatively low market liquidity, greater market volatility, decreased publicly available information and less reliable financial information about issuers, and inconsistent and potentially less stringent accounting, auditing and financial reporting requirements and standards of practice, including recordkeeping standards, comparable to those applicable to domestic issuers. Foreign securities also are subject to the risks of possible seizure, expropriation, nationalization, political or social instability, changes in economic or taxation policies or other adverse political or economic developments (in which the Fund could lose its entire investments in a certain market) and the difficulty of enforcing obligations in other countries, including the possible adoption of foreign governmental restrictions such as exchange controls. Investments in foreign securities also may be subject to dividend withholding or confiscatory taxes, currency blockage and/or transfer restrictions and higher transactional costs. To the extent the Fund invests in securities denominated in foreign currencies, fluctuations in the value of the U.S. dollar relative to the values of other currencies may adversely affect investments in foreign securities and may negatively impact the Fund's returns, unless the Fund has hedged its foreign currency exposure. Currency exchange rates may fluctuate significantly over short periods of time. Currency hedging strategies, if used, may not always be successful. Foreign companies generally may be subject to less stringent regulations than U.S. companies, including financial reporting requirements and auditing and accounting controls, and may therefore be more susceptible to fraud or corruption. There may be less public information available about foreign companies than U.S. companies, making it difficult to evaluate those foreign companies. From time to time, certain companies in which the Fund invests may operate in, or have dealings with, countries subject to sanctions or embargoes imposed by the U.S. government and the United Nations and/or in countries the U.S. government identified as state sponsors of terrorism. One or more of these companies may be subject to constraints under U.S. law or regulations that could negatively affect the company's performance. Additionally, one or more of these companies could suffer damage to its reputation if the market identifies it as a company that invests or deals with countries that the U.S. government identifies as state sponsors of terrorism or is subject to sanctions.

To the extent the Fund invests in emerging markets, emerging markets (also referred to as developing markets) are generally subject to greater market volatility, political, social and economic instability, uncertain trading markets and more governmental limitations on foreign investment than more developed markets.

The Fund may from time to time have a substantial amount of its assets invested in securities of issuers located in a single country or a limited number of countries. Adverse economic, political or social conditions in those countries may therefore have a significant negative impact on the Fund's investment performance.

Investments in high yield debt securities ("junk bonds") and other lower-rated securities will subject the Fund to substantial risk of loss. These securities are considered to be speculative with respect to the issuer's ability to pay interest and principal when due, are more susceptible to default or decline in market value and are less liquid than investment grade debt securities. Prices of high yield debt securities tend to be very volatile. The values of high yield debt securities often fluctuate more in response to company, political, regulatory or economic developments than higher quality bonds, and their values can decline significantly over short periods of time or during periods of economic difficulty when the bonds could be difficult to value or sell at a fair price, thus subjecting the Fund to a substantial risk of loss.

Mortgage- and asset-backed securities, including collateralized debt obligations and collateralized mortgage obligations, are subject to prepayment or call risk, which is the risk that a borrower's payments may be received earlier or later than expected due to changes in prepayment rates on underlying loans. This could result in the Fund reinvesting these early payments at lower interest rates, thereby reducing the Fund's income. Mortgage- and asset-backed securities also are subject to extension risk, which is the risk that an unexpected rise in interest rates could reduce the rate of prepayments, causing the price of the mortgage- and asset-backed securities and the Fund's share price to fall. An unexpectedly high rate of defaults on the mortgages held by a mortgage pool may adversely affect the value of mortgage-backed securities and could result in losses to the Fund. Privately-issued mortgage-backed securities and asset-backed securities may be less liquid than other types of securities and the Fund may be unable to sell these securities at the time or price it desires.

**14**

**Invesco SMA High Yield Bond Fund**

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**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, the Fund does not pay an advisory fee. However, Invesco will be compensated directly or indirectly by clients or account program sponsors for managed account advisory services, including with respect to assets that may be invested in the Fund.

The Adviser has entered into a master sub-advisory agreement with each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and a separate sub-advisory agreement with Invesco Capital Management LLC (collectively, the "Affiliated Sub-Advisers"). Because the Adviser does not receive a fee from the Fund for providing investment advisory services pursuant to its investment advisory agreement with the Trust, the Affiliated Sub-Advisers will not receive compensation for providing investment management services to the Fund.

Invesco has contractually agreed to reimburse expenses necessary to limit total fund operating expenses after expense reimbursement (excluding (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses; and (5) expenses that the Fund has incurred but did not actually pay because of an expense offset arrangement) to 0.00% of the Fund's average daily net assets (the "expense limit"). This expense reimbursement agreement will continue in effect for so long as Invesco serves as adviser to the Fund. The expense reimbursement agreement cannot be terminated or amended to increase the expense limit without approval of the Board of Trustees.

For the year ended February 28, 2026, the Adviser reimbursed expenses of $154,971.

The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the year ended February 28, 2026, expenses incurred under the agreement are shown in the Statement of Operations as *Administrative services fees*. Invesco has entered into a sub-administration agreement whereby State Street Bank and Trust Company ("SSB") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, SSB also serves as the Fund's custodian.

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") pursuant to which the Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to the Fund and reimburse IIS for certain expenses incurred by IIS in the course of providing such services. IIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. All fees payable by IIS to intermediaries that provide omnibus account services or sub-accounting services are charged back to the Fund, subject to certain limitations approved by the Trust's Board of Trustees. For the year ended February 28, 2026, expenses incurred under the agreement are shown in the Statement of Operations as *Transfer agent fees*.

Certain officers and trustees of the Trust are officers and directors of Invesco.

**NOTE 3—Additional Valuation Information**

GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment's assigned level:

Level 1 – Prices are determined using quoted prices in an active market for identical assets.

Level 2 – Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. 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 the Adviser's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

The following is a summary of the tiered valuation input levels, as of February 28, 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.

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| <br>**Investments in Securities** |  |  |  |  |
| U.S. Dollar Denominated Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $9870652 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $9870652 |
| Non-U.S. Dollar Denominated Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 117047 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 117047 |
| Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 16102 | &nbsp;&nbsp;&nbsp;&nbsp; 27600 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 43702 |
| Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp; 109494 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 109494 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp;&nbsp; 125596 | &nbsp;&nbsp;&nbsp;&nbsp; 10015299 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10140895 |
| **Other Investments - Liabilities\*** |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; (2507)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2507)<br>|
| Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1991)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1991)<br>|
| **Total Other Investments** | &nbsp;&nbsp;&nbsp;&nbsp; (2507)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1991)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (4498)<br>|
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $123089 | &nbsp;&nbsp;&nbsp;&nbsp; $10013308 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $10136397 |

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\* Unrealized appreciation (depreciation).

**NOTE 4—Derivative Investments**

The Fund may enter into an International Swaps and Derivatives Association Master Agreement ("ISDA Master Agreement") under which a fund may trade OTC derivatives. An OTC transaction entered into under an ISDA Master Agreement typically involves a collateral posting arrangement, payment netting provisions and close-out netting provisions. These netting provisions allow for reduction of credit risk through netting of contractual obligations. The enforceability of the netting provisions of the ISDA Master Agreement depends on the governing law of the ISDA Master Agreement, among other factors.

For financial reporting purposes, the Fund does not offset OTC derivative assets or liabilities that are subject to ISDA Master Agreements in the Statement of Assets and Liabilities.

**15**

**Invesco SMA High Yield Bond Fund**

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**Value of Derivative Investments at Period-End**

The table below summarizes the value of the Fund's derivative investments, detailed by primary risk exposure, held as of February 28, 2026:

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| | | | |
|:---|:---|:---|:---|
|  | **Value** | **Value** | **Value** |
| **Derivative Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp; **Currency** <br>**Risk**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Interest** <br>**Rate Risk**<br>| **Total** |
| Unrealized depreciation on futures contracts —Exchange-Traded<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(2507)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(2507)<br>|
| Unrealized depreciation on forward foreign currency contracts outstanding | &nbsp;&nbsp;&nbsp;&nbsp; (1991)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1991)<br>|
| Total Derivative Liabilities | &nbsp;&nbsp;&nbsp;&nbsp; (1991)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2507)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4498)<br>|
| Derivatives not subject to master netting agreements | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2507 | &nbsp;&nbsp;&nbsp;&nbsp; 2507 |
| Total Derivative Liabilities subject to master netting agreements | &nbsp;&nbsp;&nbsp;&nbsp; $(1991)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(1991)<br>|

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<sup>(a)</sup> The daily variation margin receivable (payable) at period-end is recorded in the Statement of Assets and Liabilities.

**Offsetting Assets and Liabilities**

The table below reflects the Fund's exposure to Counterparties subject to either an ISDA Master Agreement or other agreement for OTC derivative transactions as of February 28, 2026.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Financial** <br>**Derivative** <br>**Liabilities**<br>|  | **Collateral** <br>**(Received)/Pledged** | **Collateral** <br>**(Received)/Pledged** |  |
| **Counterparty** | &nbsp;&nbsp; **Forward Foreign** <br>**Currency Contracts**<br>| &nbsp;&nbsp; **Net Value of** <br>**Derivatives**<br>| **Non-Cash** | **Cash** | &nbsp;&nbsp; **Net** <br>**Amount**<br>|
| Goldman Sachs International | &nbsp;&nbsp;&nbsp; $(1991)<br>| &nbsp;&nbsp;&nbsp; $(1991)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(1991)<br>|

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**Effect of Derivative Investments for the year ended February 28, 2026**

The table below summarizes the gains (losses) on derivative investments, detailed by primary risk exposure, recognized in earnings during the period:

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| | | | |
|:---|:---|:---|:---|
|  | **Location of Gain (Loss) on** <br>**Statement of Operations** | **Location of Gain (Loss) on** <br>**Statement of Operations** | **Location of Gain (Loss) on** <br>**Statement of Operations** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Currency** <br>**Risk**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Interest** <br>**Rate Risk**<br>| **Total** |
| Realized Gain (Loss): |  |  |  |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp; $(26766)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp;&nbsp; $(26766)<br>|
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (7762)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7762)<br>|
| Change in Net Unrealized Appreciation (Depreciation): |  |  |  |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp; (2520)<br>| &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (2520)<br>|
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (2507)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2507)<br>|
| Total | &nbsp;&nbsp;&nbsp;&nbsp; $(29286)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(10269)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(39555)<br>|

---

The table below summarizes the average notional value of derivatives held during the period.

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Forward** <br>**Foreign Currency** <br>**Contracts**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Futures** <br>**Contracts**<br>|
| Average notional value | &nbsp;&nbsp;&nbsp;&nbsp; $413237 | &nbsp;&nbsp;&nbsp;&nbsp; $466938 |

---

**NOTE 5—Trustees' and Officers' Fees and Benefits**

*Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to pay remuneration to certain Trustees and Officers of the Fund. Trustees have the option to defer compensation payable by the Fund, and *Trustees' and Officers' Fees and Benefits* also include amounts accrued by the Fund to fund such deferred compensation amounts. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested. Obligations under the deferred compensation plan represent unsecured claims against the general assets of the Fund.

**NOTE 6—Cash Balances**

The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with SSB, the custodian bank. Such balances, if any at period-end, are shown in the Statement of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate the custodian bank for such overdrafts, the overdrawn Fund may either (1) leave funds as a compensating balance in the account so the custodian bank can be compensated by earning the additional interest; or (2) compensate by paying the custodian bank at a rate agreed upon by the custodian bank and Invesco, not to exceed the contractually agreed upon rate.

**16**

**Invesco SMA High Yield Bond Fund**

------

**NOTE 7—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended February 28, 2026 and 2025:</u>** |
|  | **2026** | **2025** |
| Ordinary income\* | &nbsp;&nbsp; $721055 | &nbsp;&nbsp;&nbsp;&nbsp; $797960 |
| Long-term capital gain | &nbsp;&nbsp; 39004 | &nbsp;&nbsp;&nbsp;&nbsp; 85063 |
| Total distributions | &nbsp;&nbsp; $760059 | &nbsp;&nbsp;&nbsp;&nbsp; $883023 |

---

\* Includes short-term capital gain distributions, if any.

---

| | |
|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | **2026** |
| Undistributed ordinary income | &nbsp;&nbsp;&nbsp;&nbsp; $6055 |
| Undistributed long-term capital gain | &nbsp;&nbsp;&nbsp;&nbsp; 3914 |
| Net unrealized appreciation — investments | &nbsp;&nbsp;&nbsp;&nbsp; 179364 |
| Net unrealized appreciation (depreciation) — foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp; (847)<br>|
| Temporary book/tax differences | &nbsp;&nbsp;&nbsp;&nbsp; (8112)<br>|
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp;&nbsp; 10385818 |
| Total net assets | &nbsp;&nbsp;&nbsp;&nbsp; $10566192 |

---

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is due to differences in the timing of recognition of gains and losses on investments for tax and book purposes. The Fund's net unrealized appreciation (depreciation) difference is attributable primarily to wash sales, derivative instruments and amortization and accretion on debt securities.

The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Fund's temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits.

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Fund to utilize. The ability to utilize capital loss carryforward in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Fund does not have a capital loss carryforward as of February 28, 2026.

**NOTE 8—Investment Transactions**

The aggregate amount of investment securities (other than short-term securities, U.S. Government obligations and money market funds, if any) purchased and sold by the Fund during the year ended February 28, 2026 was $12,313,940 and $12,557,314, respectively. As of February 28, 2026, the aggregate cost of investments, including any derivatives, on a tax basis listed below includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:

---

| | |
|:---|:---|
| **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** | **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** |
| Aggregate unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $252858 |
| Aggregate unrealized (depreciation) of investments | &nbsp;&nbsp;&nbsp;&nbsp; (73494)<br>|
| Net unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $179364 |

---

Cost of investments for tax purposes is $9,957,033.

**NOTE 9—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of passive foreign investment companies, foreign currency transactions and amortization and accretion on debt securities, on February 28, 2026, undistributed net investment income was increased by $20,971 and undistributed net realized gain was decreased by $20,971. This reclassification had no effect on the net assets or the distributable earnings of the Fund.

**NOTE 10—Share Information** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended** <br>**February 28, 2026**<sup>(a)</sup>  | **Year ended** <br>**February 28, 2026**<sup>(a)</sup>  | **Year ended** <br>**February 28, 2025** | **Year ended** <br>**February 28, 2025** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Sold | &nbsp;&nbsp;&nbsp; 34769 | &nbsp;&nbsp;&nbsp; $353750 | &nbsp;&nbsp;&nbsp; 41782 | &nbsp;&nbsp;&nbsp; $429628 |
| Reacquired | &nbsp;&nbsp;&nbsp; (32091)<br>| &nbsp;&nbsp;&nbsp; (328844)<br>| &nbsp;&nbsp;&nbsp; (6611)<br>| &nbsp;&nbsp;&nbsp; (68726)<br>|
| Net increase in share activity | &nbsp;&nbsp;&nbsp; 2678 | &nbsp;&nbsp;&nbsp; $24906 | &nbsp;&nbsp;&nbsp; 35171 | &nbsp;&nbsp;&nbsp; $360902 |

---

<sup>(a)</sup> 96% of the outstanding shares of the Fund are owned by the Adviser or an affiliate of the Adviser.

**17**

**Invesco SMA High Yield Bond Fund**

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Investment Securities Funds (Invesco Investment Securities Funds) and Shareholders of Invesco SMA High Yield Bond Fund

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco SMA High Yield Bond Fund (one of the funds constituting AIM Investment Securities Funds (Invesco Investment Securities Funds), referred to hereafter as the "Fund") as of February 28, 2026, the related statement of operations for the year ended February 28, 2026, the statement of changes in net assets for each of the two years in the period ended February 28, 2026, including the related notes, and the financial highlights for each of the years ended February 28, 2026 and 2025, and for the period March 1, 2023 (commencement date) through February 29, 2024 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 28, 2026, the results of its operations for the year ended February 28, 2026, the changes in its net assets for each of the two years in the period ended February 28, 2026 and the financial highlights for each of the years ended February 28, 2026 and 2025, and for the period March 1, 2023 (commencement date) through February 29, 2024 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026 by correspondence with the custodian, transfer agents and brokers. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

April 28, 2026

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**18**

**Invesco SMA High Yield Bond Fund**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year–end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended February 28, 2026:

---

| | |
|:---|:---|
| **Federal and State Income Tax** |  |
| Long-Term Capital Gain Distributions | &nbsp;&nbsp; $39004 |
| Qualified Dividend Income\* | &nbsp;&nbsp; 0.00% |
| Corporate Dividends Received Deduction\* | &nbsp;&nbsp; 0.00% |
| U.S. Treasury Obligations\* | &nbsp;&nbsp; 0.00% |
| Qualified Business Income\* | &nbsp;&nbsp; 0.00% |
| Business Interest Income\* | &nbsp;&nbsp; 94.41% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

**19**

**Invesco SMA High Yield Bond Fund**

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

Not applicable.

**20**

**Invesco SMA High Yield Bond Fund**

------

![](imgf720e0641.jpg)

SEC file number(s): 811-05686 and 033-39519

Invesco Distributors, Inc.

SMAHYB-NCSR

------

![](imgfb9167311.jpg)

------

**Annual Financial Statements and Other Information**

**February 28, 2026**

**Invesco U.S. Government Money Portfolio**

Nasdaq:

Invesco Cash Reserve: GMQXX ■ C: GMCXX ■ R: GMLXX ■ Y: OMBXX ■ R6: GMRXX

------

---

| | |
|:---|:---|
| [2](#xx_26e453c4-f697-48e6-b644-3551323bcb5b_SOI-Continued-759_1) | Schedule of Investments |
| [5](#xx_26e453c4-f697-48e6-b644-3551323bcb5b_FS-Continued-759_1) | Financial Statements |
| [8](#xx_26e453c4-f697-48e6-b644-3551323bcb5b_FS-Continued-759_4) | Financial Highlights |
| [9](#xx_26e453c4-f697-48e6-b644-3551323bcb5b_NTF-Continued-759_1) | Notes to Financial Statements |
| [13](#xx_26e453c4-f697-48e6-b644-3551323bcb5b_RIR-Continued-759_1) | Report of Independent Registered Public Accounting Firm |
| [14](#xx_26e453c4-f697-48e6-b644-3551323bcb5b_TI-Continued-759_1) | Tax Information |
| [15](#xx_26e453c4-f697-48e6-b644-3551323bcb5b_OIRSR-Continued-759_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments** 

*February 28, 2026* 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **U.S. Government Sponsored Agency Securities-16.04%** | **U.S. Government Sponsored Agency Securities-16.04%** | **U.S. Government Sponsored Agency Securities-16.04%** | **U.S. Government Sponsored Agency Securities-16.04%** | **U.S. Government Sponsored Agency Securities-16.04%** | **U.S. Government Sponsored Agency Securities-16.04%** |
| **Federal Farm Credit Bank (FFCB)-14.14%** | **Federal Farm Credit Bank (FFCB)-14.14%** | **Federal Farm Credit Bank (FFCB)-14.14%** | **Federal Farm Credit Bank (FFCB)-14.14%** | **Federal Farm Credit Bank (FFCB)-14.14%** | **Federal Farm Credit Bank (FFCB)-14.14%** |
| Federal Farm Credit Bank (SOFR + 0.09%)<sup>(a)</sup> <br>| 3.77% | 05/21/2026 |  | $6000 | &nbsp;&nbsp; $6000000 |
| Federal Farm Credit Bank (SOFR + 0.10%)<sup>(a)</sup> <br>| 3.78% | 06/03/2026 |  | 7000 | &nbsp;&nbsp; 7000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 08/26/2026 |  | 3000 | &nbsp;&nbsp; 3000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 09/09/2026 |  | 3500 | &nbsp;&nbsp; 3500000 |
| Federal Farm Credit Bank (1 mo. EFFR + 0.05%)<sup>(a)</sup> <br>| 3.69% | 09/17/2026 |  | 6000 | &nbsp;&nbsp; 6000000 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(a)</sup> <br>| 3.81% | 10/06/2026 |  | 3000 | &nbsp;&nbsp; 3000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 10/15/2026 |  | 3000 | &nbsp;&nbsp; 3000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 11/23/2026 |  | 2000 | &nbsp;&nbsp; 2000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 12/02/2026 |  | 7000 | &nbsp;&nbsp; 7000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 12/09/2026 |  | 5000 | &nbsp;&nbsp; 5000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 12/30/2026 |  | 3000 | &nbsp;&nbsp; 3000000 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(a)</sup> <br>| 3.81% | 01/27/2027 |  | 3500 | &nbsp;&nbsp; 3500000 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(a)</sup> <br>| 3.81% | 02/03/2027 |  | 4000 | &nbsp;&nbsp; 4000000 |
| Federal Farm Credit Bank (SOFR + 0.12%)<sup>(a)</sup> <br>| 3.80% | 02/10/2027 |  | 7000 | &nbsp;&nbsp; 7000000 |
| Federal Farm Credit Bank (SOFR + 0.08%)<sup>(a)</sup> <br>| 3.76% | 03/11/2027 |  | 3000 | &nbsp;&nbsp; 3000000 |
| Federal Farm Credit Bank (SOFR + 0.07%)<sup>(a)</sup> <br>| 3.75% | 03/24/2027 |  | 9000 | &nbsp;&nbsp; 9000000 |
| Federal Farm Credit Bank (SOFR + 0.07%)<sup>(a)</sup> <br>| 3.75% | 03/26/2027 |  | 10000 | &nbsp;&nbsp; 10000000 |
| Federal Farm Credit Bank (SOFR + 0.08%)<sup>(a)</sup> <br>| 3.76% | 04/09/2027 |  | 5000 | &nbsp;&nbsp; 5000000 |
| Federal Farm Credit Bank (SOFR + 0.11%)<sup>(a)</sup> <br>| 3.79% | 05/13/2027 |  | 6000 | &nbsp;&nbsp; 6000000 |
| Federal Farm Credit Bank (SOFR + 0.11%)<sup>(a)</sup> <br>| 3.79% | 05/14/2027 |  | 6000 | &nbsp;&nbsp; 6000000 |
| Federal Farm Credit Bank (SOFR + 0.10%)<sup>(a)</sup> <br>| 3.78% | 05/27/2027 |  | 5000 | &nbsp;&nbsp; 5000000 |
| Federal Farm Credit Bank (SOFR + 0.11%)<sup>(a)</sup> <br>| 3.79% | 07/21/2027 |  | 5000 | &nbsp;&nbsp; 5000000 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(a)</sup> <br>| 3.81% | 09/02/2027 |  | 4000 | &nbsp;&nbsp; 4000000 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(a)</sup> <br>| 3.81% | 09/10/2027 |  | 3500 | &nbsp;&nbsp; 3500000 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(a)</sup> <br>| 3.81% | 09/22/2027 |  | 3500 | &nbsp;&nbsp; 3500000 |
| Federal Farm Credit Bank (SOFR + 0.09%)<sup>(a)</sup> <br>| 3.77% | 09/28/2027 |  | 6500 | &nbsp;&nbsp; 6500000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 10/01/2027 |  | 4000 | &nbsp;&nbsp; 4000000 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(a)</sup> <br>| 3.81% | 10/22/2027 |  | 4000 | &nbsp;&nbsp; 4000000 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(a)</sup> <br>| 3.81% | 11/03/2027 |  | 4000 | &nbsp;&nbsp; 4000000 |
| Federal Farm Credit Bank (SOFR + 0.10%)<sup>(a)</sup> <br>| 3.78% | 12/01/2027 |  | 6000 | &nbsp;&nbsp; 6000000 |
| Federal Farm Credit Bank (SOFR + 0.09%)<sup>(a)</sup> <br>| 3.77% | 02/17/2028 |  | 12000 | &nbsp;&nbsp; 12000000 |
|  |  |  |  |  | &nbsp;&nbsp; 159500000 |
| **Federal Home Loan Bank (FHLB)-1.90%** | **Federal Home Loan Bank (FHLB)-1.90%** | **Federal Home Loan Bank (FHLB)-1.90%** | **Federal Home Loan Bank (FHLB)-1.90%** | **Federal Home Loan Bank (FHLB)-1.90%** | **Federal Home Loan Bank (FHLB)-1.90%** |
| Federal Home Loan Bank (SOFR + 0.02%)<sup>(a)</sup> <br>| 3.70% | 06/18/2026 |  | 11500 | &nbsp;&nbsp; 11500000 |
| Federal Home Loan Bank (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 09/24/2026 |  | 5000 | &nbsp;&nbsp; 5000000 |
| Federal Home Loan Bank (SOFR + 0.11%)<sup>(a)</sup> <br>| 3.79% | 07/16/2027 |  | 5000 | &nbsp;&nbsp; 5000000 |
|  |  |  |  |  | &nbsp;&nbsp; 21500000 |
| Total U.S. Government Sponsored Agency Securities (Cost $181,000,000) | Total U.S. Government Sponsored Agency Securities (Cost $181,000,000) | Total U.S. Government Sponsored Agency Securities (Cost $181,000,000) | Total U.S. Government Sponsored Agency Securities (Cost $181,000,000) |  | &nbsp;&nbsp; 181000000 |
| **U.S. Treasury Securities-13.56%** | **U.S. Treasury Securities-13.56%** | **U.S. Treasury Securities-13.56%** | **U.S. Treasury Securities-13.56%** | **U.S. Treasury Securities-13.56%** | **U.S. Treasury Securities-13.56%** |
| **U.S. Treasury Bills-8.95%**<sup>(b)</sup> | **U.S. Treasury Bills-8.95%**<sup>(b)</sup> | **U.S. Treasury Bills-8.95%**<sup>(b)</sup> | **U.S. Treasury Bills-8.95%**<sup>(b)</sup> | **U.S. Treasury Bills-8.95%**<sup>(b)</sup> | **U.S. Treasury Bills-8.95%**<sup>(b)</sup> |
| U.S. Treasury Bills | 3.65% | 03/24/2026 |  | 10000 | &nbsp;&nbsp; 9976808 |
| U.S. Treasury Bills | 3.76% | 03/31/2026 |  | 6500 | &nbsp;&nbsp; 6479861 |
| U.S. Treasury Bills | 3.65% | 04/14/2026 |  | 8000 | &nbsp;&nbsp; 7964702 |
| U.S. Treasury Bills | 4.09% | 04/16/2026 |  | 5000 | &nbsp;&nbsp; 4974828 |
| U.S. Treasury Bills | 4.08% | 06/11/2026 |  | 6000 | &nbsp;&nbsp; 5933105 |
| U.S. Treasury Bills | 3.64% | 06/16/2026 |  | 13000 | &nbsp;&nbsp; 12861093 |
| U.S. Treasury Bills | 3.64% | 06/23/2026 |  | 15000 | &nbsp;&nbsp; 14829237 |
| U.S. Treasury Bills | 4.08%-4.12% | 07/09/2026 |  | 12000 | &nbsp;&nbsp; 11829050 |
| U.S. Treasury Bills | 3.59%-3.92% | 08/06/2026 |  | 16500 | &nbsp;&nbsp; 16233551 |
| U.S. Treasury Bills | 3.59% | 08/13/2026 |  | 10000 | &nbsp;&nbsp; 9838566 |
|  |  |  |  |  | &nbsp;&nbsp; 100920801 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**2**

**Invesco U.S. Government Money Portfolio**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **U.S. Treasury Floating Rate Notes-0.44%** | **U.S. Treasury Floating Rate Notes-0.44%** | **U.S. Treasury Floating Rate Notes-0.44%** | **U.S. Treasury Floating Rate Notes-0.44%** | **U.S. Treasury Floating Rate Notes-0.44%** | **U.S. Treasury Floating Rate Notes-0.44%** |
| U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + <br> 0.16%)<sup>(a)</sup> <br>| 3.80% | 04/30/2027 |  | $5000 | &nbsp;&nbsp; $5001399 |
| **U.S. Treasury Notes-4.17%** | **U.S. Treasury Notes-4.17%** | **U.S. Treasury Notes-4.17%** | **U.S. Treasury Notes-4.17%** | **U.S. Treasury Notes-4.17%** | **U.S. Treasury Notes-4.17%** |
| U.S. Treasury Notes | 0.75% | 04/30/2026 |  | 5000 | &nbsp;&nbsp; 4973579 |
| U.S. Treasury Notes | 4.13% | 06/15/2026 |  | 6000 | &nbsp;&nbsp; 6000789 |
| U.S. Treasury Notes | 4.63% | 06/30/2026 |  | 13000 | &nbsp;&nbsp; 13018978 |
| U.S. Treasury Notes | 4.50% | 07/15/2026 |  | 5000 | &nbsp;&nbsp; 5010784 |
| U.S. Treasury Notes | 4.63% | 11/15/2026 |  | 6000 | &nbsp;&nbsp; 6040810 |
| U.S. Treasury Notes | 4.00% | 01/15/2027 |  | 12000 | &nbsp;&nbsp; 12046736 |
|  |  |  |  |  | &nbsp;&nbsp; 47091676 |
| Total U.S. Treasury Securities (Cost $153,013,876) | Total U.S. Treasury Securities (Cost $153,013,876) | Total U.S. Treasury Securities (Cost $153,013,876) | Total U.S. Treasury Securities (Cost $153,013,876) |  | &nbsp;&nbsp; 153013876 |
| **U.S. Government Sponsored Agency Mortgage-Backed Securities-3.77%** | **U.S. Government Sponsored Agency Mortgage-Backed Securities-3.77%** | **U.S. Government Sponsored Agency Mortgage-Backed Securities-3.77%** | **U.S. Government Sponsored Agency Mortgage-Backed Securities-3.77%** | **U.S. Government Sponsored Agency Mortgage-Backed Securities-3.77%** | **U.S. Government Sponsored Agency Mortgage-Backed Securities-3.77%** |
| **Federal Home Loan Mortgage Corp. (FHLMC)-1.15%** | **Federal Home Loan Mortgage Corp. (FHLMC)-1.15%** | **Federal Home Loan Mortgage Corp. (FHLMC)-1.15%** | **Federal Home Loan Mortgage Corp. (FHLMC)-1.15%** | **Federal Home Loan Mortgage Corp. (FHLMC)-1.15%** | **Federal Home Loan Mortgage Corp. (FHLMC)-1.15%** |
| Federal Home Loan Mortgage Corp. (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 09/04/2026 |  | 6000 | &nbsp;&nbsp; 6000000 |
| Federal Home Loan Mortgage Corp. (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 10/29/2026 |  | 4000 | &nbsp;&nbsp; 4000000 |
| Federal Home Loan Mortgage Corp. (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 10/14/2027 |  | 3000 | &nbsp;&nbsp; 3000000 |
|  |  |  |  |  | &nbsp;&nbsp; 13000000 |
| **Federal National Mortgage Association (FNMA)-2.62%** | **Federal National Mortgage Association (FNMA)-2.62%** | **Federal National Mortgage Association (FNMA)-2.62%** | **Federal National Mortgage Association (FNMA)-2.62%** | **Federal National Mortgage Association (FNMA)-2.62%** | **Federal National Mortgage Association (FNMA)-2.62%** |
| Federal National Mortgage Association (SOFR + 0.10%)<sup>(a)</sup> <br>| 3.78% | 06/18/2026 |  | 4000 | &nbsp;&nbsp; 4000000 |
| Federal National Mortgage Association (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 08/21/2026 |  | 8500 | &nbsp;&nbsp; 8500000 |
| Federal National Mortgage Association (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 09/11/2026 |  | 3500 | &nbsp;&nbsp; 3500000 |
| Federal National Mortgage Association (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 10/23/2026 |  | 5000 | &nbsp;&nbsp; 5000000 |
| Federal National Mortgage Association (SOFR + 0.14%)<sup>(a)</sup> <br>| 3.82% | 12/11/2026 |  | 3000 | &nbsp;&nbsp; 3000000 |
| Federal National Mortgage Association (SOFR + 0.26%)<sup>(a)</sup> <br>| 3.94% | 11/05/2027 |  | 5500 | &nbsp;&nbsp; 5512559 |
|  |  |  |  |  | &nbsp;&nbsp; 29512559 |
| Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $42,512,559) | Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $42,512,559) | Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $42,512,559) | Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $42,512,559) |  | &nbsp;&nbsp; 42512559 |
| TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-33.37% <br>(Cost $376,526,435) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-33.37% <br>(Cost $376,526,435) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-33.37% <br>(Cost $376,526,435) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-33.37% <br>(Cost $376,526,435) |  | &nbsp;&nbsp; 376526435 |
|  |  |  | &nbsp;&nbsp; **Repurchase**<br> **Amount** | &nbsp;&nbsp; **Repurchase**<br> **Amount** |  |
| **Repurchase Agreements-66.43%**<sup>(c)</sup>  | **Repurchase Agreements-66.43%**<sup>(c)</sup>  | **Repurchase Agreements-66.43%**<sup>(c)</sup>  | **Repurchase Agreements-66.43%**<sup>(c)</sup>  | **Repurchase Agreements-66.43%**<sup>(c)</sup>  | **Repurchase Agreements-66.43%**<sup>(c)</sup>  |
| Banco Santander, joint agreement dated 02/27/2026, aggregate maturing value of <br> $1,000,306,667 (collateralized by agency mortgage-backed securities valued at <br> $1,020,312,902; 1.66% - 8.50%; 08/15/2026 - 03/15/2067)<br>| 3.68% | 03/02/2026 |  | 100030667 | &nbsp;&nbsp; 100000000 |
| Bank of Nova Scotia, joint agreement dated 02/27/2026, aggregate maturing value <br> of $1,000,306,667 (collateralized by agency mortgage-backed securities valued <br> at $1,020,000,000; 1.50% - 7.00%; 03/01/2027 - 10/20/2065)<br>| 3.68% | 03/02/2026 |  | 100030667 | &nbsp;&nbsp; 100000000 |
| BMO Capital Markets Corp., joint term agreement dated 02/27/2026, aggregate <br> maturing value of $1,505,874,167 (collateralized by agency mortgage-backed <br> securities valued at $1,530,000,003; 2.50% - 7.00%; 12/20/2038 - <br> 05/20/2075)<sup>(d)</sup> <br>| 3.71% | 04/06/2026 |  | 25097903 | &nbsp;&nbsp; 25000000 |
| BNP Paribas Securities Corp., joint term agreement dated 07/10/2025, aggregate <br> maturing value of $2,500,785,419 (collateralized by agency mortgage-backed <br> securities, U.S. government sponsored agency obligations and U.S. Treasury <br> obligations valued at $2,550,000,000; 0.00% - 8.00%; 03/17/2026 - <br> 08/20/2065)<sup>(d)(e)</sup> <br>| 3.77% | 03/02/2026 |  | 25007854 | &nbsp;&nbsp; 25000000 |
| BofA Securities, Inc., joint term agreement dated 07/28/2025, aggregate maturing <br> value of $1,750,549,792 (collateralized by U.S. Treasury obligations valued at <br> $1,785,000,089; 0.00% - 6.25%; 02/28/2026 - 08/15/2055)<sup>(d)(e)</sup> <br>| 3.77% | 03/02/2026 |  | 10003142 | &nbsp;&nbsp; 10000000 |
| BofA Securities, Inc., joint term agreement dated 09/11/2025, aggregate maturing <br> value of $515,520,833 (collateralized by U.S. Treasury obligations valued at <br> $510,000,204; 0.00% - 6.25%; 02/28/2026 - 05/15/2054)<br>| 3.75% | 07/07/2026 |  | 5155208 | &nbsp;&nbsp; 5000000 |
| Citigroup Global Markets, Inc., joint term agreement dated 09/04/2025, aggregate <br> maturing value of $50,754,799 (collateralized by agency mortgage-backed <br> securities valued at $49,980,001; 1.75% - 4.64%; 06/15/2027 - 11/25/2061)<br>| 3.86% | 08/05/2026 |  | 12429747 | &nbsp;&nbsp; 12000000 |
| Credit Agricole Corporate & Investment Bank, joint term agreement dated <br> 10/20/2025, aggregate maturing value of $20,296,250 (collateralized by <br> U.S. Treasury obligations valued at $20,702,187; 0.13% - 4.75%; 01/31/2027 <br> - 11/15/2054)<br>| 3.95% | 03/04/2026 |  | 16237000 | &nbsp;&nbsp; 16000000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**3**

**Invesco U.S. Government Money Portfolio**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Repurchase**<br> **Amount** | &nbsp;&nbsp; **Repurchase**<br> **Amount** | **Value** |
| Fixed Income Clearing Corp. - Wells Fargo Bank, N.A., joint term agreement dated <br> 02/26/2026, aggregate maturing value of $700,072,139 (collateralized by <br> U.S. Treasury obligations valued at $714,000,333; 4.63% - 5.00%; <br> 09/30/2028 - 05/15/2055)<sup>(f)</sup> <br>| 3.71% | 03/12/2026 |  | $10001031 | &nbsp;&nbsp; $10000000 |
| Fixed Income Clearing Corp. - Wells Fargo Bank, N.A., joint term agreement dated <br> 02/26/2026, aggregate maturing value of $700,217,000 (collateralized by <br> U.S. Treasury obligations valued at $714,000,294; 1.25% - 5.00%; <br> 09/30/2028 - 08/15/2054)<sup>(g)</sup> <br>| 3.72% | 03/16/2026 |  | 10003100 | &nbsp;&nbsp; 10000000 |
| Mizuho Securities (USA) LLC, joint agreement dated 02/27/2026, aggregate <br> maturing value of $650,199,333 (collateralized by U.S. government sponsored <br> agency obligations and U.S. Treasury obligations valued at $663,000,065; 0.75% <br> - 4.63%; 05/31/2026 - 02/15/2035)<br>| 3.68% | 03/02/2026 |  | 100030667 | &nbsp;&nbsp; 100000000 |
| RBC Dominion Securities Inc., joint agreement dated 02/27/2026, aggregate <br> maturing value of $1,000,306,667 (collateralized by agency mortgage-backed <br> securities and U.S. Treasury obligations valued at $1,020,312,840; 0.00% - <br> 7.50%; 07/15/2026 - 10/20/2065)<br>| 3.68% | 03/02/2026 |  | 75023000 | &nbsp;&nbsp; 75000000 |
| RBC Dominion Securities Inc., joint term agreement dated 10/27/2025, aggregate <br> maturing value of $15,440,213 (collateralized by U.S. Treasury obligations valued <br> at $15,507,263; 0.13% - 4.63%; 04/30/2026 - 02/15/2053)<sup>(d)</sup> <br>| 3.87% | 07/27/2026 |  | 12352170 | &nbsp;&nbsp; 12000000 |
| RBC Dominion Securities Inc., joint term agreement dated 10/27/2025, aggregate <br> maturing value of $733,694,825 (collateralized by U.S. Treasury obligations <br> valued at $737,110,776; 0.00% - 4.88%; 04/14/2026 - 11/15/2055)<sup>(d)</sup> <br>| 3.87% | 07/24/2026 |  | 12348300 | &nbsp;&nbsp; 12000000 |
| Royal Bank of Canada, joint term agreement dated 09/29/2025, aggregate maturing <br> value of $2,075,086,640 (collateralized by agency mortgage-backed securities <br> and U.S. Treasury obligations valued at $2,078,208,705; 0.00% - 7.00%; <br> 03/17/2026 - 03/01/2063)<sup>(d)</sup> <br>| 3.69% | 09/01/2026 |  | 11378840 | &nbsp;&nbsp; 11000000 |
| Sumitomo Mitsui Banking Corp., joint agreement dated 02/27/2026, aggregate <br> maturing value of $5,301,625,333 (collateralized by agency mortgage-backed <br> securities valued at $5,605,743,280; 2.00% - 6.50%; 10/20/2042 - <br> 12/20/2055)<br>| 3.68% | 03/02/2026 |  | 121437229 | &nbsp;&nbsp; 121400000 |
| TD Securities (USA) LLC, joint agreement dated 02/27/2026, aggregate maturing <br> value of $950,291,333 (collateralized by agency mortgage-backed securities <br> valued at $969,000,001; 1.75% - 7.71%; 05/25/2028 - 11/16/2065)<br>| 3.68% | 03/02/2026 |  | 55016867 | &nbsp;&nbsp; 55000000 |
| TD Securities (USA) LLC, joint term agreement dated 02/25/2026, aggregate <br> maturing value of $480,345,333 (collateralized by agency mortgage-backed <br> securities valued at $489,600,000; 2.50% - 5.16%; 11/20/2051 - <br> 11/20/2055)<br>| 3.70% | 03/04/2026 |  | 50035972 | &nbsp;&nbsp; 50000000 |
| Total Repurchase Agreements (Cost $749,400,000) | Total Repurchase Agreements (Cost $749,400,000) | Total Repurchase Agreements (Cost $749,400,000) | Total Repurchase Agreements (Cost $749,400,000) |  | &nbsp;&nbsp; 749400000 |
| TOTAL INVESTMENTS IN SECURITIES<sup>(h)</sup>-99.80% (Cost $1,125,926,435) | TOTAL INVESTMENTS IN SECURITIES<sup>(h)</sup>-99.80% (Cost $1,125,926,435) | TOTAL INVESTMENTS IN SECURITIES<sup>(h)</sup>-99.80% (Cost $1,125,926,435) | TOTAL INVESTMENTS IN SECURITIES<sup>(h)</sup>-99.80% (Cost $1,125,926,435) |  | &nbsp;&nbsp; 1125926435 |
| OTHER ASSETS LESS LIABILITIES-0.20% | OTHER ASSETS LESS LIABILITIES-0.20% | OTHER ASSETS LESS LIABILITIES-0.20% | OTHER ASSETS LESS LIABILITIES-0.20% |  | &nbsp;&nbsp; 2260547 |
| NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% |  | &nbsp;&nbsp; $1128186982 |

---

Investment Abbreviations:

EFFR -Effective Federal Funds Rate <br> SOFR -Secured Overnight Financing Rate

Notes to Schedule of Investments:

<sup>(a)</sup> Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2026.

<sup>(b)</sup> Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.

<sup>(c)</sup> Principal amount equals value at period end. See Note 1J.

<sup>(d)</sup> The Fund may demand payment of the term repurchase agreement upon one to seven business days' notice depending on the timing of the demand.

<sup>(e)</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>(f)</sup> Interest is paid periodically at specified time intervals. The Repurchase Amount includes one day of interest due at maturity. 

<sup>(g)</sup> Interest is paid periodically at specified time intervals. The Repurchase Amount includes three days of interest due at maturity.

<sup>(h)</sup> Also represents cost for federal income tax purposes.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**4**

**Invesco U.S. Government Money Portfolio**

------

**Statement of Assets and Liabilities**

*February 28, 2026*

---

| | |
|:---|:---|
| **Assets:** |  |
| Investments in unaffiliated securities, excluding <br> repurchase agreements, at value and cost<br>| &nbsp;&nbsp; $376526435 |
| Repurchase agreements, at value and cost | &nbsp;&nbsp; 749400000 |
| Cash | &nbsp;&nbsp; 10954 |
| Receivable for: |  |
| Fund shares sold | &nbsp;&nbsp; 871782 |
| Interest | &nbsp;&nbsp; 3628625 |
| Investment for trustee deferred compensation and <br> retirement plans<br>| &nbsp;&nbsp; 119629 |
| Other assets | &nbsp;&nbsp; 1622 |
| Total assets | &nbsp;&nbsp; 1130559047 |
| **Liabilities:** |  |
| Payable for: |  |
| Fund shares reacquired | &nbsp;&nbsp; 1636359 |
| Dividends | &nbsp;&nbsp; 52952 |
| Accrued fees to affiliates | &nbsp;&nbsp; 409979 |
| Accrued trustees' and officers' fees and benefits | &nbsp;&nbsp; 5358 |
| Accrued operating expenses | &nbsp;&nbsp; 103679 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 163738 |
| Total liabilities | &nbsp;&nbsp; 2372065 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $1128186982 |

---

---

| | |
|:---|:---|
| **Net assets consist of:** |  |
| Shares of beneficial interest | &nbsp;&nbsp; $1128386769 |
| Distributable earnings (loss) | &nbsp;&nbsp; (199787)<br>|
|  | &nbsp;&nbsp; $1128186982 |
| **Net Assets:** | **Net Assets:** |
| Invesco Cash Reserve | &nbsp;&nbsp; $46920483 |
| Class C | &nbsp;&nbsp; $7164297 |
| Class R | &nbsp;&nbsp; $12849676 |
| Class Y | &nbsp;&nbsp; $1058229483 |
| Class R6 | &nbsp;&nbsp; $3023043 |
| **Shares outstanding, no par value,** <br>**unlimited number of shares authorized:** | **Shares outstanding, no par value,** <br>**unlimited number of shares authorized:** |
| Invesco Cash Reserve | &nbsp;&nbsp; 46921745 |
| Class C | &nbsp;&nbsp; 7164447 |
| Class R | &nbsp;&nbsp; 12850032 |
| Class Y | &nbsp;&nbsp; 1058255286 |
| Class R6 | &nbsp;&nbsp; 3023084 |
| Net asset value, offering and redemption price per share <br> for each class<br>| &nbsp;&nbsp; $1.00 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**5**

**Invesco U.S. Government Money Portfolio**

------

**Statement of Operations**

*For the year ended February 28, 2026* 

---

| | |
|:---|:---|
| **Investment income:** |  |
| Interest | &nbsp;&nbsp; $48659885 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 4315374 |
| Administrative services fees | &nbsp;&nbsp; 506069 |
| Custodian fees | &nbsp;&nbsp; 25383 |
| Distribution fees: |  |
| Invesco Cash Reserve | &nbsp;&nbsp; 73101 |
| Class C | &nbsp;&nbsp; 68981 |
| Class R | &nbsp;&nbsp; 66551 |
| Transfer agent fees - Invesco Cash Reserve, C, R and Y | &nbsp;&nbsp; 2282709 |
| Transfer agent fees - R6 | &nbsp;&nbsp; 588 |
| Trustees' and officers' fees and benefits | &nbsp;&nbsp; 23231 |
| Registration and filing fees | &nbsp;&nbsp; 85558 |
| Reports to shareholders | &nbsp;&nbsp; 118212 |
| Professional services fees | &nbsp;&nbsp; 58059 |
| Other | &nbsp;&nbsp; 6233 |
| Total expenses | &nbsp;&nbsp; 7630049 |
| Less: Fees waived, expenses reimbursed and/or expense offset arrangement(s) | &nbsp;&nbsp; (1113977)<br>|
| Net expenses | &nbsp;&nbsp; 6516072 |
| Net investment income | &nbsp;&nbsp; 42143813 |
| Net realized gain from unaffiliated investment securities | &nbsp;&nbsp; 44741 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $42188554 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**6**

**Invesco U.S. Government Money Portfolio**

------

**Statement of Changes in Net Assets**

*For the year ended February 28, 2026 and 2025* 

---

| | | |
|:---|:---|:---|
|  | **2026** | **2025** |
| **Operations:** |  |  |
| Net investment income | &nbsp;&nbsp; $42143813 | &nbsp;&nbsp; $53900252 |
| Net realized gain | &nbsp;&nbsp; 44741 | &nbsp;&nbsp; 10710 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 42188554 | &nbsp;&nbsp; 53910962 |
| **Distributions to shareholders from distributable earnings:** |  |  |
| Invesco Cash Reserve | &nbsp;&nbsp; (1713318)<br>| &nbsp;&nbsp; (2290386)<br>|
| Class C | &nbsp;&nbsp; (182651)<br>| &nbsp;&nbsp; (229409)<br>|
| Class R | &nbsp;&nbsp; (421234)<br>| &nbsp;&nbsp; (548072)<br>|
| Class Y | &nbsp;&nbsp; (39754455)<br>| &nbsp;&nbsp; (50820762)<br>|
| Class R6 | &nbsp;&nbsp; (72155)<br>| &nbsp;&nbsp; (11623)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (42143813)<br>| &nbsp;&nbsp; (53900252)<br>|
| **Share transactions-net:** |  |  |
| Invesco Cash Reserve | &nbsp;&nbsp; (2864183)<br>| &nbsp;&nbsp; (3483018)<br>|
| Class C | &nbsp;&nbsp; 1225517 | &nbsp;&nbsp; (1041482)<br>|
| Class R | &nbsp;&nbsp; (1230635)<br>| &nbsp;&nbsp; 1199202 |
| Class Y | &nbsp;&nbsp; (45026060)<br>| &nbsp;&nbsp; (51719495)<br>|
| Class R6 | &nbsp;&nbsp; 2760848 | &nbsp;&nbsp; 250022 |
| Net increase (decrease) in net assets resulting from share transactions | &nbsp;&nbsp; (45134513)<br>| &nbsp;&nbsp; (54794771)<br>|
| Net increase (decrease) in net assets | &nbsp;&nbsp; (45089772)<br>| &nbsp;&nbsp; (54784061)<br>|
| **Net assets:** |  |  |
| Beginning of year | &nbsp;&nbsp; 1173276754 | &nbsp;&nbsp; 1228060815 |
| End of year | &nbsp;&nbsp; $1128186982 | &nbsp;&nbsp; $1173276754 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**7**

**Invesco U.S. Government Money Portfolio**

------

**Financial Highlights**

The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Total** <br>**distributions**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or expenses** <br>**absorbed**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or expenses** <br>**absorbed**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**to average** <br>**net assets**<br>|
| **Invesco Cash Reserve** | **Invesco Cash Reserve** | **Invesco Cash Reserve** | **Invesco Cash Reserve** | **Invesco Cash Reserve** | **Invesco Cash Reserve** | **Invesco Cash Reserve** | **Invesco Cash Reserve** | **Invesco Cash Reserve** | **Invesco Cash Reserve** | **Invesco Cash Reserve** | **Invesco Cash Reserve** | **Invesco Cash Reserve** |
| Year ended 02/28/26 | $1.00 | $0.04 | $0.00 | $0.04 | $(0.04)<br>| $(0.04)<br>| $1.00 | 3.57<br> %<br>| $46920 | 0.69<br> %<br>| 0.79<br> %<br>| 3.51<br> %<br>|
| Year ended 02/28/25 | 1.00 | 0.04 | 0.00 | 0.04 | (0.04)<br>| (0.04)<br>| 1.00 | 4.42 | 49782 | 0.73 | 0.87 | 4.34 |
| Year ended 02/29/24 | 1.00 | 0.05 | (0.00)<br>| 0.05 | (0.05)<br>| (0.05)<br>| 1.00 | 4.62 | 53265 | 0.73 | 0.83 | 4.52 |
| Year ended 02/28/23 | 1.00 | 0.02 | (0.00)<br>| 0.02 | (0.02)<br>| (0.02)<br>| 1.00 | 1.79 | 53056 | 0.66 | 0.83 | 1.76 |
| Year ended 02/28/22 | 1.00 | 0.00 | (0.00)<br>| 0.00 | (0.00)<br>| (0.00)<br>| 1.00 | 0.01 | 53481 | 0.07 | 0.83 | 0.00 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year ended 02/28/26 | 1.00 | 0.03 | 0.00 | 0.03 | (0.03)<br>| (0.03)<br>| 1.00 | 2.69 | 7164 | 1.55 | 1.64 | 2.65 |
| Year ended 02/28/25 | 1.00 | 0.03 | 0.00 | 0.03 | (0.03)<br>| (0.03)<br>| 1.00 | 3.54 | 5939 | 1.58 | 1.72 | 3.49 |
| Year ended 02/29/24 | 1.00 | 0.04 | (0.00)<br>| 0.04 | (0.04)<br>| (0.04)<br>| 1.00 | 3.73 | 6980 | 1.58 | 1.68 | 3.67 |
| Year ended 02/28/23 | 1.00 | 0.01 | (0.00)<br>| 0.01 | (0.01)<br>| (0.01)<br>| 1.00 | 1.18 | 7822 | 1.27 | 1.68 | 1.14 |
| Year ended 02/28/22 | 1.00 | 0.00 | (0.00)<br>| 0.00 | (0.00)<br>| (0.00)<br>| 1.00 | 0.01 | 8105 | 0.07 | 1.68 | 0.00 |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year ended 02/28/26 | 1.00 | 0.03 | 0.00 | 0.03 | (0.03)<br>| (0.03)<br>| 1.00 | 3.21 | 12850 | 1.04 | 1.14 | 3.16 |
| Year ended 02/28/25 | 1.00 | 0.04 | 0.00 | 0.04 | (0.04)<br>| (0.04)<br>| 1.00 | 4.06 | 14080 | 1.08 | 1.22 | 3.99 |
| Year ended 02/29/24 | 1.00 | 0.04 | (0.00)<br>| 0.04 | (0.04)<br>| (0.04)<br>| 1.00 | 4.25 | 12881 | 1.08 | 1.18 | 4.17 |
| Year ended 02/28/23 | 1.00 | 0.02 | (0.00)<br>| 0.02 | (0.02)<br>| (0.02)<br>| 1.00 | 1.53 | 6791 | 0.93 | 1.18 | 1.48 |
| Year ended 02/28/22 | 1.00 | 0.00 | (0.00)<br>| 0.00 | (0.00)<br>| (0.00)<br>| 1.00 | 0.01 | 5042 | 0.07 | 1.18 | 0.00 |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| Year ended 02/28/26 | 1.00 | 0.04 | 0.00 | 0.04 | (0.04)<br>| (0.04)<br>| 1.00 | 3.72 | 1058229 | 0.54 | 0.64 | 3.66 |
| Year ended 02/28/25 | 1.00 | 0.04 | 0.00 | 0.04 | (0.04)<br>| (0.04)<br>| 1.00 | 4.58 | 1103214 | 0.58 | 0.72 | 4.49 |
| Year ended 02/29/24 | 1.00 | 0.05 | (0.00)<br>| 0.05 | (0.05)<br>| (0.05)<br>| 1.00 | 4.77 | 1154923 | 0.58 | 0.68 | 4.67 |
| Year ended 02/28/23 | 1.00 | 0.02 | (0.00)<br>| 0.02 | (0.02)<br>| (0.02)<br>| 1.00 | 1.91 | 1224628 | 0.53 | 0.68 | 1.88 |
| Year ended 02/28/22 | 1.00 | 0.00 | (0.00)<br>| 0.00 | (0.00)<br>| (0.00)<br>| 1.00 | 0.01 | 1283313 | 0.07 | 0.68 | 0.00 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| Year ended 02/28/26 | 1.00 | 0.04 | 0.00 | 0.04 | (0.04)<br>| (0.04)<br>| 1.00 | 3.83 | 3023 | 0.44 | 0.47 | 3.76 |
| Year ended 02/28/25 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| (0.05)<br>| 1.00 | 4.70 | 262 | 0.48 | 0.53 | 4.59 |
| Year ended 02/29/24 | 1.00 | 0.05 | (0.00)<br>| 0.05 | (0.05)<br>| (0.05)<br>| 1.00 | 4.91 | 12 | 0.48 | 0.52 | 4.77 |
| Year ended 02/28/23 | 1.00 | 0.02 | (0.00)<br>| 0.02 | (0.02)<br>| (0.02)<br>| 1.00 | 1.99 | 10 | 0.45 | 0.51 | 1.97 |
| Year ended 02/28/22 | 1.00 | 0.00 | (0.00)<br>| 0.00 | (0.00)<br>| (0.00)<br>| 1.00 | 0.01 | 10 | 0.07 | 0.53 | 0.00 |

---

<sup>(a)</sup> Calculated using average shares outstanding.

<sup>(b)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America and does not include sales charges and is not annualized for periods less than one year, if applicable. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**8**

**Invesco U.S. Government Money Portfolio**

------

**Notes to Financial Statements**

*February 28, 2026*

**NOTE 1—Significant Accounting Policies**

Invesco U.S. Government Money Portfolio (the "Fund") is a series portfolio of AIM Investment Securities Funds (Invesco Investment Securities Funds) (the "Trust"). The Trust is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company authorized to issue an unlimited number of shares of beneficial interest. Information presented in these financial statements pertains only to the Fund. Matters affecting the Fund or each class will be voted on exclusively by the shareholders of such Fund or each class.

The Fund's investment objective is to seek income consistent with stability of principal.

The Fund currently consists of five different classes of shares: Invesco Cash Reserve, Class C, Class R, Class Y and Class R6. Class Y shares are available only to certain investors. Class C shares are sold with a contingent deferred sales charges ("CDSC"). Invesco Cash Reserve, Class R, Class Y and Class R6 shares are sold at net asset value. Class C shares held for eight years after purchase are eligible for automatic conversion into Invesco Cash Reserve shares of the same Fund (the "Conversion Feature"). The automatic conversion pursuant to the Conversion Feature will generally occur at the end of the month following the eighth anniversary after a purchase of Class C shares.

The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, Financial Services – Investment Companies.

The Fund is a "government money market fund" as defined in Rule 2a-7 under the 1940 Act (the "Rule") and seeks to maintain a stable or constant NAV of $1.00 per share using an amortized cost method of valuation. "Government money market funds" are required to invest at least 99.5% of their total assets in cash, Government Securities (as defined in the 1940 Act), and/ or repurchase agreements collateralized fully by cash or Government Securities. The Board of Trustees has elected not to subject the Fund to liquidity fee requirements at this time, as permitted by the Rule.

The following is a summary of the significant accounting policies followed by the Fund in the preparation of its financial statements.

**A.** **Security Valuations** — The Fund's securities are recorded on the basis of amortized cost which approximates value as permitted by the Rule. This method values a security at its cost on the date of purchase and, thereafter, assumes a constant amortization to maturity of any premiums or accretion of any discounts.

Securities for which market quotations are not readily available are fair valued by Invesco Advisers, Inc. (the "Adviser" or "Invesco") in accordance with Board-approved policies and related Adviser procedures ("Valuation Procedures"). If a fair value price provided by a pricing service is unreliable in the Adviser's judgment, the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value.

Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

The Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.

**B.** **Securities Transactions and Investment Income** — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on the accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.

The Fund may periodically participate in litigation related to Fund investments. As such, the Fund may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.

Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the investment adviser.

The Fund allocates realized capital gains and losses to a class based on the relative net assets of each class. The Fund allocates income to a class based on the relative settled shares of each class.

**C.** **Country Determination** - For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted.

**D.** **Distributions -** Distributions from net investment income, if any, are declared daily and paid monthly. Distributions from net realized capital gain, if any, are generally declared and paid annually and recorded on the ex-dividend date.

**E.** **Federal Income Taxes** - The Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Fund's taxable earnings to shareholders. As such, the Fund will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions.

The Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual periods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid by jurisdiction, while removing certain disclosure requirements. The Fund did not pay any material income taxes, net of refunds during the period.

**F.** **Expenses** — Fees provided for under the Rule 12b-1 plan of a particular class of the Fund are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses attributable to Class R6 are charged to such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative settled shares.

**9**

**Invesco U.S. Government Money Portfolio**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**G.** **Accounting Estimates** — The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**H.** **Indemnifications** - Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**I.** **Segment Reporting** — The Fund represents a single operating segment, in accordance with ASC 280, Segment Reporting. Subject to the oversight and, when applicable, approval of the Board of Trustees, portfolio managers and senior executives at the Adviser act as the Fund's chief operating decision maker ("CODM"), assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements.

**J.** **Repurchase Agreements** - The Fund may enter into repurchase agreements. Collateral on repurchase agreements, including the Fund's pro-rata interest in joint repurchase agreements, is taken into possession by the Fund upon entering into the repurchase agreement. Collateral consisting of U.S. Government Securities and U.S. Government Sponsored Agency Securities is marked to market daily to ensure its market value is typically at least 102% of the sales price of the repurchase agreement. The investments in some repurchase agreements, pursuant to procedures approved by the Board of Trustees, are through participation with other mutual funds, private accounts and certain non-registered investment companies managed by the investment adviser or its affiliates ("Joint repurchase agreements"). The principal amount of the repurchase agreement is equal to the value at period-end. If the seller of a repurchase agreement fails to repurchase the security in accordance with the terms of the agreement, the Fund might incur expenses in enforcing its rights, and could experience losses, including a decline in the value of the collateral and loss of income.

**K.** **Other Risks** - Obligations of U.S. Government agencies and authorities receive varying levels of support and may not be backed by the full faith and credit of the U.S. Government, which could affect the Fund's ability to recover should they default. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so.

**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Effective January 1, 2026, under the terms of the investment advisory agreement, the Fund accrues daily and pays monthly an advisory fee to the Adviser based on the annual rate of the Fund's average daily net assets as follows:

---

| | |
|:---|:---|
| **Average Daily Net Assets** | &nbsp;&nbsp;&nbsp;&nbsp; **Rate** |
| All Assets | &nbsp;&nbsp;&nbsp;&nbsp; 0.15% |

---

Prior to January 1, 2026, the Fund accrued daily and paid monthly an advisory fee to the Adviser based on the annual rate of the Fund's average daily net assets as follows:

---

| | |
|:---|:---|
| **Average Daily Net Assets** | &nbsp;&nbsp;&nbsp;&nbsp; **Rate\*** |
| First $500 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.450% |
| Next $500 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.425% |
| Next $500 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.400% |
| Next $1.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.375% |
| Over $3 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.350% |

---

\*The advisory fee paid by the Fund was reduced by any amounts paid by the Fund under the administrative services agreement with the Adviser.

For the year ended February 28, 2026, the effective advisory fees incurred by the Fund was 0.37%.

Under the terms of a master sub-advisory agreement between the Adviser and each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and a separate sub-advisory agreement with Invesco Capital Management LLC (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Affiliated Sub-Adviser(s). Invesco has also entered into a Sub-Advisory Agreement with OppenheimerFunds, Inc. to provide discretionary management services to the Funds.

The Adviser has contractually agreed, through June 30, 2026, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Invesco Cash Reserve, Class C, Class R, Class Y, and Class R6 shares to 0.73%, 1.58%, 1.08%, 0.58%, and 0.48%, respectively, of the Fund's average daily net assets (the "expense limits"). In determining the Adviser's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the total annual fund operating expenses after fee waiver and/or expense reimbursement to exceed the numbers reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses; and (5) expenses that the Fund has incurred but did not actually pay because of an expense offset arrangement. Unless Invesco continues the fee waiver agreement, it will terminate on June 30, 2026. During its term, the fee waiver agreement cannot be terminated or amended to increase the expense limits or reduce the advisory fee waiver without approval of the Board of Trustees.

For the year ended February 28, 2026, the Adviser contractually waived class level expenses of $32,647, $4,501, $8,909, $725,289 and $553, of Invesco Cash Reserve, Class C, Class R, Class Y and Class R6 shares, respectively.

The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the year ended February 28, 2026, expenses incurred under the agreement are shown in the Statement of Operations as *Administrative services fees*. Also, Invesco has entered into a sub-administration agreement whereby The Bank of New York Mellon ("BNY") serves as custodian and fund accountant and provides certain administrative services to the Fund.

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") pursuant to which the Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to the Fund and reimburse IIS for certain expenses incurred by IIS in the course of providing such services. IIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. All fees payable by IIS to intermediaries that provide omnibus account services or sub-accounting services are charged back to the Fund, subject to certain limitations approved by the Trust's Board of Trustees. For the year ended February 28, 2026, expenses incurred under the agreement are shown in the Statement of Operations as *Transfer agent fees*.

**10**

**Invesco U.S. Government Money Portfolio**

------

The Trust has entered into master distribution agreements with Invesco Distributors, Inc. ("IDI") to serve as the distributor for the Invesco Cash Reserve, Class C, Class R, Class Y and Class R6 shares of the Fund. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Invesco Cash Reserve, Class C and Class R shares (collectively the "Plans"). The Fund pursuant to the Plans, pays IDI compensation at the annual rate of 0.15% of the average daily net assets of Invesco Cash Reserve shares, 1.00% of the average daily net assets of Class C shares and 0.50% of the average daily net assets of Class R shares. The fees are accrued daily and paid monthly. Of the Plan payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such classes. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund plans. Expenses under this agreement are shown as *Distribution fees* in the Statement of Operations.

CDSC are not recorded as expenses of the Fund. CDSC are deducted from redemption proceeds prior to remittance to the shareholder. During the year ended February 28, 2026, IDI advised the Fund that IDI imposed CDSC on redemptions by shareholders for Invesco Cash Reserve and Class C shares of $640 and 332, respectively.

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

**NOTE 3—Additional Valuation Information**

GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment's assigned level:

Level 1 — Prices are determined using quoted prices in an active market for identical assets.

Level 2 — Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.

Level 3 — Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Adviser's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

As of February 28, 2026, all of the securities in this Fund were valued based on Level 2 inputs (see the Schedule of Investments for security categories). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

**NOTE 4—Expense Offset Arrangement(s)**

The expense offset arrangement is comprised of transfer agency credits which result from balances in demand deposit accounts used by the transfer agent for clearing shareholder transactions. For the year ended February 28, 2026, the Fund received credits from this arrangement, which resulted in the reduction of the Fund's total expenses of $342,078.

**NOTE 5—Trustees' and Officers' Fees and Benefits**

*Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to pay remuneration to certain Trustees and Officers of the Fund. Trustees have the option to defer compensation payable by the Fund, and *Trustees' and Officers' Fees and Benefits* also include amounts accrued by the Fund to fund such deferred compensation amounts. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested. The Fund may have certain former Trustees who participated in a retirement plan and receive benefits under such plan. *Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to fund such retirement benefits. Obligations under the deferred compensation and retirement plans represent unsecured claims against the general assets of the Fund.

**NOTE 6—Cash Balances**

The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with BNY, the custodian bank. Such balances, if any at period-end, are shown in the Statement of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate the custodian bank for such overdrafts, the overdrawn Fund may either (1) leave funds as a compensating balance in the account so the custodian bank can be compensated by earning the additional interest; or (2) compensate by paying the custodian bank at a rate agreed upon by the custodian bank and Invesco, not to exceed the contractually agreed upon rate.

**NOTE 7—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Years Ended February 28, 2026 and February 28, 2025:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Years Ended February 28, 2026 and February 28, 2025:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Years Ended February 28, 2026 and February 28, 2025:</u>** |
|  | **2026** | **2025** |
| Ordinary income\* | &nbsp;&nbsp; $42143813 | &nbsp;&nbsp;&nbsp;&nbsp; $53900252 |

---

\* Includes short-term capital gain distributions, if any.

---

| | |
|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | **2026** |
| Temporary book/tax differences | &nbsp;&nbsp;&nbsp;&nbsp; $(157519)<br>|
| Capital loss carryforward | &nbsp;&nbsp;&nbsp;&nbsp; (42268)<br>|
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp;&nbsp; 1128386769 |
| Total net assets | &nbsp;&nbsp;&nbsp;&nbsp; $1128186982 |

---

The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Fund's temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits.

**11**

**Invesco U.S. Government Money Portfolio**

------

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Fund to utilize. The ability to utilize capital loss carryforward in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Fund has a capital loss carryforward as of February 28, 2026 as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** | **Capital Loss Carryforward\*** |
| **Expiration** | **Short-Term** | **Long-Term** | **Total** |
| Not subject to expiration | &nbsp;&nbsp;&nbsp;&nbsp; $42268 | &nbsp;&nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp;&nbsp; $42268 |

---

\* Capital loss carryforwards are reduced for limitations, if any, to the extent required by the Internal Revenue Code and may be further limited depending upon a variety of factors, including the realization of net unrealized gains or losses as of the date of any reorganization. 

**NOTE 8—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of distributions, on February 28, 2026, undistributed net investment income was increased by $27,376 and shares of beneficial interest was decreased by $27,376. This reclassification had no effect on the net assets of the Fund.

**NOTE 9—Share Information** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Years ended February 28,** | **Years ended February 28,** | **Years ended February 28,** | **Years ended February 28,** |
|  | **2026** | **2026** | **2025** | **2025** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Invesco Cash Reserve | &nbsp;&nbsp;&nbsp; 28210981 | &nbsp;&nbsp;&nbsp; $28210981 | &nbsp;&nbsp;&nbsp; 31023752 | &nbsp;&nbsp;&nbsp; $31023752 |
| Class C | &nbsp;&nbsp;&nbsp; 4573088 | &nbsp;&nbsp;&nbsp; 4573088 | &nbsp;&nbsp;&nbsp; 1899704 | &nbsp;&nbsp;&nbsp; 1899704 |
| Class R | &nbsp;&nbsp;&nbsp; 5017984 | &nbsp;&nbsp;&nbsp; 5017984 | &nbsp;&nbsp;&nbsp; 6844859 | &nbsp;&nbsp;&nbsp; 6844859 |
| Class Y | &nbsp;&nbsp;&nbsp; 198978499 | &nbsp;&nbsp;&nbsp; 198978499 | &nbsp;&nbsp;&nbsp; 194136716 | &nbsp;&nbsp;&nbsp; 194136716 |
| Class R6 | &nbsp;&nbsp;&nbsp; 5378441 | &nbsp;&nbsp;&nbsp; 5378441 | &nbsp;&nbsp;&nbsp; 3439456 | &nbsp;&nbsp;&nbsp; 3439456 |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Invesco Cash Reserve | &nbsp;&nbsp;&nbsp; 1612889 | &nbsp;&nbsp;&nbsp; 1612889 | &nbsp;&nbsp;&nbsp; 2173382 | &nbsp;&nbsp;&nbsp; 2173382 |
| Class C | &nbsp;&nbsp;&nbsp; 180240 | &nbsp;&nbsp;&nbsp; 180240 | &nbsp;&nbsp;&nbsp; 224767 | &nbsp;&nbsp;&nbsp; 224767 |
| Class R | &nbsp;&nbsp;&nbsp; 416828 | &nbsp;&nbsp;&nbsp; 416828 | &nbsp;&nbsp;&nbsp; 542800 | &nbsp;&nbsp;&nbsp; 542800 |
| Class Y | &nbsp;&nbsp;&nbsp; 38930879 | &nbsp;&nbsp;&nbsp; 38930879 | &nbsp;&nbsp;&nbsp; 49765807 | &nbsp;&nbsp;&nbsp; 49765807 |
| Class R6 | &nbsp;&nbsp;&nbsp; 71783 | &nbsp;&nbsp;&nbsp; 71783 | &nbsp;&nbsp;&nbsp; 11167 | &nbsp;&nbsp;&nbsp; 11167 |
| **Automatic Conversion of Class C shares to Invesco** <br>**Cash Reserve shares:**<br>|  |  |  |  |
| Invesco Cash Reserve | &nbsp;&nbsp;&nbsp; 386283 | &nbsp;&nbsp;&nbsp; 386283 | &nbsp;&nbsp;&nbsp; 590294 | &nbsp;&nbsp;&nbsp; 590294 |
| Class C | &nbsp;&nbsp;&nbsp; (386283)<br>| &nbsp;&nbsp;&nbsp; (386283)<br>| &nbsp;&nbsp;&nbsp; (590294)<br>| &nbsp;&nbsp;&nbsp; (590294)<br>|
| **Reacquired:** |  |  |  |  |
| Invesco Cash Reserve | &nbsp;&nbsp;&nbsp; (33074336)<br>| &nbsp;&nbsp;&nbsp; (33074336)<br>| &nbsp;&nbsp;&nbsp; (37270446)<br>| &nbsp;&nbsp;&nbsp; (37270446)<br>|
| Class C | &nbsp;&nbsp;&nbsp; (3141528)<br>| &nbsp;&nbsp;&nbsp; (3141528)<br>| &nbsp;&nbsp;&nbsp; (2575659)<br>| &nbsp;&nbsp;&nbsp; (2575659)<br>|
| Class R | &nbsp;&nbsp;&nbsp; (6665447)<br>| &nbsp;&nbsp;&nbsp; (6665447)<br>| &nbsp;&nbsp;&nbsp; (6188457)<br>| &nbsp;&nbsp;&nbsp; (6188457)<br>|
| Class Y | &nbsp;&nbsp;&nbsp; (282935438)<br>| &nbsp;&nbsp;&nbsp; (282935438)<br>| &nbsp;&nbsp;&nbsp; (295622018)<br>| &nbsp;&nbsp;&nbsp; (295622018)<br>|
| Class R6 | &nbsp;&nbsp;&nbsp; (2689376)<br>| &nbsp;&nbsp;&nbsp; (2689376)<br>| &nbsp;&nbsp;&nbsp; (3200601)<br>| &nbsp;&nbsp;&nbsp; (3200601)<br>|
| Net increase (decrease) in share activity | &nbsp;&nbsp;&nbsp; (45134513)<br>| &nbsp;&nbsp;&nbsp; $(45134513)<br>| &nbsp;&nbsp;&nbsp; (54794771)<br>| &nbsp;&nbsp;&nbsp; $(54794771)<br>|

---

**12**

**Invesco U.S. Government Money Portfolio**

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Investment Securities Funds (Invesco Investment Securities Funds) and Shareholders of Invesco U.S. Government Money Portfolio

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco U.S. Government Money Portfolio (one of the funds constituting AIM Investment Securities Funds (Invesco Investment Securities Funds), referred to hereafter as the "Fund") as of February 28, 2026, the related statement of operations for the year ended February 28, 2026, the statement of changes in net assets for each of the two years in the period ended February 28, 2026, including the related notes, and the financial highlights for each of the five years in the period ended February 28, 2026 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 28, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended February 28, 2026 and the financial highlights for each of the five years in the period ended February 28, 2026, in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026 by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

April 28, 2026

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**13**

**Invesco U.S. Government Money Portfolio**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year-end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended February 28, 2026:

---

| | |
|:---|:---|
| **Federal and State Income Tax** |  |
| Qualified Business Income\* | &nbsp;&nbsp; 0.00% |
| Qualified Dividend Income\* | &nbsp;&nbsp; 0.00% |
| Corporate Dividends Received Deduction\* | &nbsp;&nbsp; 0.00% |
| Business Interest Income\* | &nbsp;&nbsp; 99.94% |
| U.S. Treasury Obligations\* | &nbsp;&nbsp; 14.30% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

**14**

**Invesco U.S. Government Money Portfolio**

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

Not applicable.

**15**

**Invesco U.S. Government Money Portfolio**

------

![](imgfb9167311.jpg)

SEC file number(s): 811-05686 and 033-39519

Invesco Distributors, Inc.

O-GMKT-NCSR

------

Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.

Not applicable.

------

Item 9. Proxy Disclosures for Open-End Management Investment Companies.

Not applicable.

------

Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.

This information is filed under Item 7 of this Form N-CSR.

------

Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.

Not applicable.

------

Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

------

Item 13. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

------

Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

------

Item 15. Submission of Matters to a Vote of Security Holders.

None.

------

Item 16. Controls and Procedures.

(a) As of a date within 90 days of the filing date of this report, an evaluation was performed under the supervision and with the participation of the officers of the Registrant, including the PEO and PFO, to assess the effectiveness of the Registrant's disclosure controls and procedures, as that term is defined in Rule 30a-3(c) under the Act. Based on that evaluation, the Registrant's officers, including the PEO and PFO, concluded that the Registrant's disclosure controls and procedures were reasonably designed to ensure: (1) that information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the time periods specified by the rules and forms of the Securities and Exchange Commission; and (2) that material information relating to the Registrant is made known to the PEO and PFO as appropriate to allow timely decisions regarding required disclosure.

(b) There have been no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

------

Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

------

Item 18. Recovery of Erroneously Awarded Compensation.

Not applicable.

------

Item 19. Exhibits.

[(a)(1) Code of Ethics is attached as Exhibit 99.CODEETH.](Code_of_Ethics.htm)

(a)(2) Not applicable.

[(a)(3) Certifications of the Registrant's PEO and PFO pursuant to Rule 30a-2(a) under the Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached as Exhibit 99.CERT.](Section_302_Certification.htm)

(a)(4) Not applicable.

(a)(5) Not applicable.

[(b) Certifications of Registrant's PEO and PFO pursuant to Rule 30a-2(b) under the Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached as Exhibit 99.906CERT.](Section_906_Certification.htm)

------

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) <u>AIM Investment Securities Funds (Invesco Investment Securities Funds)</u>

By: <u>/s/ Glenn Brightman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> <u>.</u>

Name: Glenn Brightman

Title: Principal Executive Officer

Date: May 7, 2026

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By: <u>/s/ Glenn Brightman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> <u>.</u>

Name: Glenn Brightman

Title: Principal Executive Officer

Date: May 7, 2026

By: <u>/s/ Adrien Deberghes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> 

Name: Adrien Deberghes

Title: Principal Financial Officer

Date: May 7, 2026

------

## Ex-99.Code

#### Exhibit 99.CODEETH

#### EXHIBIT (a)(1)

### CODE OF ETHICS FOR PRINCIPAL EXECUTIVE AND SENIOR FINANCIAL OFFICERS

---

| | |
|:---|:---|
| **Applicable To**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·Invesco Funds; <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·Invesco ETFs (together with the Invesco Funds, a "Fund," and collectively, the "Funds").  |
| **Risk Addressed by Policy**  | Ethics Violations by Principals  |
| **Relevant Law & Related Resources**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·Investment Company Act of 1940; <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·Sarbanes-Oxley Act of 2002.  |
| **Date of Last Review**  | July 2025  |
| **Policy Inception Date**  | August 2003  |

---

I.  **<u>PURPOSE</u>** 

This Code of Ethics (the "Code") for the Invesco Funds and the Invesco ETFs applies to each Fund's Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer or Controller or persons performing similar functions (collectively, the "Covered Officers," each of whom is set forth in Exhibit A to this Code) for the purpose of promoting:

· honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

· full, fair, accurate, timely and understandable disclosure in reports and documents that a registrant files with, or submits to, the Securities and Exchange Commission ("SEC") and in other public communications made by the registrant;

· compliance with applicable governmental laws, rules and regulations;

· prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code; and

· accountability for adherence to the Code.

The Code shall be administered by the Chief Compliance Officer of the respective Funds (the "Chief Compliance Officer"), or his or her delegate. Each Covered Officer should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

------

The Chief Compliance Officer is responsible for applying this Code to specific situations in which questions are presented under it and has the authority to interpret this Code in any particular situation. However, any waivers<sup>1</sup> sought by a Covered Officer must be considered by the Independent Trustees<sup>2</sup> of the relevant Fund or Funds. Any question about the application of the Code should be referred to the Funds' Chief Compliance Officer.

II.  **<u>COVERED OFFICERS TO ACT HONESTLY AND CANDIDLY</u>** 

Each Covered Officer named in Exhibit A to this Code owes a duty to the respective Fund for which he/she serves to act with integrity. Integrity requires, among other things, being honest and candid. Deceit and subordination of principle are inconsistent with integrity.

Each Covered Officer must:

• act with integrity, including being honest and candid while still maintaining the confidentiality of information where required by law or the Funds' policies;

• observe both the form and spirit of laws and governmental rules and regulations and accounting standards;

• adhere to a high standard of business ethics; and

• place the interest of the Funds and its shareholders before the Covered Officer's own personal interests.

III.  **<u>COVERED OFFICERS SHOULD HANDLE ETHICAL, ACTUAL AND APPARENT CONFLICTS OF INTEREST</u>** 

**<u>Overview</u>. A "conflict of interest" occurs when a Covered Officer's private interest interferes, or appears to interfere, with the interests of, or his/her service to, the Funds. For example, a conflict of interest would arise if a Covered Officer, or a member of his/her family, receives improper personal benefits as a result of his/her position with the Funds.** 

------

Certain conflicts of interest arise out of the relationships between Covered Officers and the Funds and already are subject to conflict-of-interest provisions in the Investment Company Act of 1940 as amended ("Investment Company Act"), and the Investment Advisers Act of 1940, as amended ("Investment Advisers Act"). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with a Fund because of their status as "affiliated persons" (as defined in the Investment Company Act) of the Funds or the Funds' investment adviser. The Funds' and their investment adviser's and any sub-adviser's compliance programs and procedures are designed to prevent, or identify and correct, violations of these provisions. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside the parameters of this Code, unless or until the Chief Compliance Officer determines that any violation of such programs and procedures is also a violation of this Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts may arise from, or as a result of, the contractual relationship between the Funds and their investment adviser of which the Covered Officers are also officers or employees. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the Funds or for the investment adviser, or for both), be involved in establishing policies and implementing decisions that will have different effects on the Funds and their investment adviser. The participation of the Covered Officers in such activities is inherent in the contractual relationship between the Fund and the investment adviser and is consistent with the performance by the Covered Officers of their duties as officers of the Funds. Thus, if performed in conformity with the provisions of the Investment Company Act and the Investment Advisers Act, such activities will be deemed to have been handled ethically. In addition, it is recognized by the Funds' Board of Trustees ("Board") that the Covered Officers may also be officers or employees of one or more other investment companies covered by this or other codes.

Other conflicts of interest are covered by the Code, even if such conflicts of interest are not subject to provisions in the Investment Company Act and the Investment Advisers Act. The following list provides examples of conflicts of interest under the Code, but Covered Officers should keep in mind that these examples are not exhaustive. The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interest of the Funds.

Each Covered Officer must:

• avoid conflicts of interest wherever possible;

• handle any actual or apparent conflict of interest ethically;

• not use his/her personal influence or personal relationships to influence investment decisions or financial reporting by the Funds whereby the Covered Officer would benefit personally (directly or indirectly) to the detriment of the Funds;

• not cause the Funds to take action, or fail to take action, for the personal benefit of the Covered Officer rather than the benefit of the Funds;

• not use material non-public knowledge of portfolio transactions made or contemplated for, or actions proposed to be taken by, the Funds to trade personally or cause others to trade personally in contemplation of the market effect of such transactions; and

• as described in more detail below, discuss any material transactions or relationship that could reasonably be expected to give rise to a conflict of interest with the applicable Chief Compliance Officer.

------

Each Covered Officer must, at the time of signing this Code, report to the Chief Compliance Officer all affiliations or significant business relationships outside of the Funds and must update the report annually.

Conflict of interest situations should always be approved by the Chief Compliance Officer and communicated to the relevant Funds or Fund's Board. Any activity or relationship that would present such a conflict for a Covered Officer would likely also present a conflict for the Covered Officer if an immediate member of the Covered Officer's family living in the same household engages in such an activity or has such a relationship. Examples of these include:

• service or significant business relationships as a trustee/director on the board of any public or private company;

• being in the position of supervising, reviewing or having any influence on the job evaluation, pay or benefit of any immediate family member;

• any ownership interest in, or any consulting or employment relationship with, any of the Funds' service providers, other than its investment adviser, principal underwriter, or any affiliated person thereof; and

• a direct or indirect financial interest in commissions, transaction charges or spreads paid by the Funds for effecting portfolio transactions or for selling or redeeming shares other than an interest arising from the Covered Officer's employment with Invesco, its subsidiaries, its parent organizations and any affiliates or subsidiaries thereof, such as compensation or equity ownership.

IV.  **<u>DISCLOSURE AND COMPLIANCE</u>** 

Each Covered Officer should:

• familiarize himself/herself with the disclosure and compliance requirements generally applicable to the Funds;

• not knowingly misrepresent, conceal or omit required disclosures of, or cause others to do the same, facts about the Funds to others, whether within or outside the Funds, including to the Funds' Trustees and auditors, or to governmental regulators and self-regulatory organizations;

• to the extent appropriate within his/her area of responsibility, consult with other officers and employees of the Funds and their investment adviser with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the Funds file with, or submit to, the SEC and in other public communications made by the Funds; and

• promote compliance with the standards and restrictions imposed by applicable laws, rules and regulations.

V.  **<u>REPORTING AND ACCOUNTABILITY</u>** 

Each Covered Officer must:

• upon adoption of the Code (thereafter as applicable, upon becoming a Covered Officer), affirm in writing to the Chief Compliance Officer that he/she has received, read and understands the Code;

• annually thereafter, affirm to the Chief Compliance Officers that he/she has complied with the requirements of the Code;

------

• not retaliate against any other Covered Officer, other officer or any employee of the Funds or their affiliated persons for reports of potential violations that are made in good faith; and

• notify the Chief Compliance Officer promptly if he/she knows of or suspects any violation of this Code. Failure to do so is itself a violation of this Code.

The Funds will follow these procedures in investigating and enforcing this Code, and in reporting on the Code:

• the Chief Compliance Officer will take all appropriate action to investigate any potential violation reported to him/her;

• if, after such investigation, the Chief Compliance Officer believes that no violation has occurred, the Chief Compliance Officer is not required to take any further action;

• any matter that the Chief Compliance Officer believes is a violation will be reported to the relevant Trust's Audit Committee;

• if the Independent Trustees of the relevant Funds concur that a violation has occurred, they will consider appropriate action, which may include review of, and appropriate modifications to, applicable policies and procedures; notification to appropriate personnel of the investment adviser or its board; or a recommendation to dismiss the Covered Officer or other appropriate disciplinary actions;

• the Independent Trustees of the relevant Funds will be responsible for granting waivers of this Code, as appropriate; and

• any changes to, or waivers of, this Code will, to the extent required, be disclosed as provided by SEC rules.

VI.  **<u>OTHER POLICIES AND PROCEDURES</u>** 

This Code shall be the sole code of ethics adopted by the Funds for purposes of Section 406 of the Sarbanes-Oxley Act of 2002 and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the Funds, the Funds' investment adviser, principal underwriter, or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code unless any provision of this Code conflicts with any applicable federal or state law, in which case the requirements of such law will govern. The Funds' and their investment adviser's and principal underwriter's codes of ethics under Rule 17j-1 under the Investment Company Act are separate requirements applying to the Covered Officers and others, and are not part of this Code.

VII.  **<u>AMENDMENTS</u>** 

------

These Procedures have been adopted by the Board, including a majority of the Trustees who are not interested persons (as defined in the Investment Company Act) of the Funds (the "Independent Trustees"). All material amendments to these Procedures must either be approved in advance by the Board and the Independent Trustees or ratified by the Board and the Independent Trustees, as determined by Legal and Compliance upon consultation with counsel to the Funds. Non-material amendments to these Procedures may be made by Legal and Compliance and will be reported to the Compliance Committee or other applicable committee of the Board or to the Board at the next scheduled in-person meeting of the committee or Board.

VIII.  **<u>CONFIDENTIALITY</u>** 

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the Covered Officers, the Chief Compliance Officer, Independent Trustees of the relevant Fund or Funds and the Independent Trustees' counsel, the relevant Fund or Funds and those Funds' counsel and the senior management of the investment adviser and its counsel.

IX.  **<u>INTERNAL USE</u>** 

The Code is intended solely for the internal use by the Funds and does not constitute an admission, by or on behalf of any Fund, as to any fact, circumstance, or legal conclusion.

I have read and understand the terms of the above Code. I recognize the responsibilities and obligations incurred by me as a result of my being subject to the Code. I hereby agree to abide by the above Code.

------

#### EXHIBIT A
Persons Covered by this Code of Ethics:

• **Invesco Funds** 

• President and Principal Executive Officer - Glenn Brightman

• Treasurer and Principal Financial Officer - Adrian Deberghes

• **Invesco ETFs** 

• President and Principal Executive Officer — Brian Hartigan

• Treasurer and Principal Financial Officer — Kelli Gallegos

<sup>1</sup> Item 2 of Form N-CSR defines "waiver" as "the approval by the registrant of a material departure from a provision of the code of ethics" and "implicit waiver," which must also be disclosed, as "the registrant's failure to take action within a reasonable period of time regarding a material departure from a provision of the code of ethics that has been made known to an executive officer, as defined in Rule 3b-7 under the Securities Exchange Act of 1934, of the registrant."<br>

<sup>2</sup> Trustees who are not interested persons (as defined in the Investment Company Act) of the Funds

------

## Ex-99.Cert

#### Exhibit 99.CERT

#### EXHIBIT (a)(3)
CERTIFICATIONS PURSUANT TO RULE 30A-2(A) UNDER THE 1940 ACT AND SECTION 302 OF

THE SARBANES-OXLEY ACT OF 2002

I, Glenn Brightman, certify that:

1. I have reviewed this report on Form N-CSR of AIM Investment Securities Funds (Invesco Investment Securities Funds);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this report;

4. The Registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation;

(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and

5. The Registrant's other certifying officer and I have disclosed to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting.

Date:&nbsp;&nbsp;&nbsp;&nbsp; <u>&nbsp;&nbsp;&nbsp;&nbsp; May 7, 2026</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/ Glenn Brightman</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Glenn Brightman

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Principal Executive Officer

------

#### Exhibit 99.CERT

#### EXHIBIT (a)(3)
CERTIFICATIONS PURSUANT TO RULE 30A-2(A) UNDER THE 1940 ACT AND SECTION 302 OF

THE SARBANES-OXLEY ACT OF 2002

I, Adrien Deberghes, certify that:

1. I have reviewed this report on Form N-CSR of AIM Investment Securities Funds (Invesco Investment Securities Funds);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this report;

4. The Registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation;

(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and

5. The Registrant's other certifying officer and I have disclosed to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting.

Date:<u>May 7, 2026</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; <u>/s/ Adrien Deberghes</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adrien Deberghes

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal Financial Officer

------

## Exhibit 99.906

#### Exhibit 99.906

#### &nbsp;&nbsp;&nbsp;&nbsp; EXHIBIT (b)

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
CERTIFICATIONS PURSUANT TO RULE 30A-2(B) UNDER THE 1940 ACT AND SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Certified Shareholder Report of AIM Investment Securities Funds (Invesco Investment Securities Funds) (the "Company") on Form N-CSR for the period ended February 28, 2026, as filed with the Securities and Exchange Commission (the "Report"), I, Glenn Brightman, Principal Executive Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

---

| | |
|:---|:---|
| Date: May 7, 2026  | /s/ Glenn Brightman  |
|  | Glenn Brightman <br> Principal Executive Officer  |

---

------

#### Exhibit 99.906

#### &nbsp;&nbsp;&nbsp;&nbsp; EXHIBIT (b)

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
CERTIFICATIONS PURSUANT TO RULE 30A-2(B) UNDER THE 1940 ACT AND SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Certified Shareholder Report of AIM Investment Securities Funds (Invesco Investment Securities Funds) (the "Company") on Form N-CSR for the period ended February 28, 2026, as filed with the Securities and Exchange Commission (the "Report"), I, Adrien Deberghes, Principal Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

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|:---|:---|
| Date: May 7, 2026  | /s/ Adrien Deberghes  |
|  | Adrien Deberghes <br> Principal Financial Officer  |

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