| Conv. | – Convertible |
| Ctfs. | – Certificates |
| IO | – Interest Only |
| LIBOR | – London Interbank Offered Rate |
| Pfd. | – Preferred |
| REIT | – Real Estate Investment Trust |
| USD | – U.S. Dollar |
| (a) | Maturity date reflects the anticipated repayment date. |
| (b) | 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 May 31, 2022 was $71,421,254, which represented 89.28% of the Fund’s Net Assets. |
| (c) | Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on May 31, 2022. |
| (d) | All or a portion of the security is pledged as collateral for open reverse repurchase agreeements. |
| Counterparty | Reverse Repurchase Agreements | Value of Non-cash Collateral Pledged* | Net Amount |
| Wells Fargo Bank, N.A. | $27,000,000 | $(27,000,000) | $— |
| * Amount does not include excess collateral pledged. |
| (e) | 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 May 31, 2022. |
| (f) | 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 May 31, 2022. |
| (g) | Security issued at a fixed rate for a specific period of time, after which it will convert to a variable rate. |
| (h) | All or a portion of the value was designated as collateral to cover margin requirements for swap agreements. |
| (i) | Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund. |
| (j) | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended May 31, 2022. |
| Value February 28, 2022 | Purchases at Cost | Proceeds from Sales | Change in Unrealized Appreciation | Realized Gain (Loss) | Value May 31, 2022 | Dividend Income | |
| Investments in Affiliated Money Market Funds: | |||||||
| Invesco Government & Agency Portfolio, Institutional Class | $2,673,740 | $841,046 | $(1,622,991) | $- | $- | $1,891,795 | $1,024 |
| Invesco Liquid Assets Portfolio, Institutional Class | 1,777,871 | 600,748 | (1,159,279) | 337 | (507) | 1,219,170 | 1,285 |
| Invesco Treasury Portfolio, Institutional Class | 3,055,703 | 961,195 | (1,854,847) | - | - | 2,162,051 | 1,620 |
| Total | $7,507,314 | $2,402,989 | $(4,637,117) | $337 | $(507) | $5,273,016 | $3,929 |
| (k) | The rate shown is the 7-day SEC standardized yield as of May 31, 2022. |
| Open Centrally Cleared Interest Rate Swap Agreements | ||||||||||
| Pay/ Receive Floating Rate | Floating Rate Index | Payment Frequency | (Pay)/ Receive Fixed Rate | Payment Frequency | Maturity Date | Notional Value | Upfront Payments Paid (Received) | Value | Unrealized Appreciation | |
| Interest Rate Risk | ||||||||||
| Receive | 3 Month USD LIBOR | Quarterly | (2.83)% | Semi-annual | 11/29/2024 | USD | 3,000,000 | $— | $5,386 | $5,386 |
| Receive | 3 Month USD LIBOR | Quarterly | (2.86) | Semi-annual | 11/29/2024 | USD | 12,600,000 | — | 13,311 | 13,311 |
| Total Centrally Cleared Interest Rate Swap Agreements | $— | $18,697 | $18,697 | |||||||
| Open Over-The-Counter Credit Default Swap Agreements | |||||||||||
| Counterparty | Reference Entity | Buy/Sell Protection | (Pay)/ Receive Fixed Rate | Payment Frequency | Maturity Date | Implied Credit Spread(a) | Notional Value | Upfront Payments Paid (Received) | Value(b) | Unrealized Appreciation (Depreciation)(b) | |
| Credit Risk | |||||||||||
| J.P. Morgan Chase Bank, N.A. | Markit CMBX North America BBB - Index Series 8, Version 1 | Sell | 3.00% | Monthly | 10/17/2057 | 10.010% | USD | 8,400,000 | $(447,056) | $(1,199,632) | $(752,576) |
| (a) | Implied credit spreads represent the current level, as of May 31, 2022, 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. |
| (b) | Swaps are collateralized by $1,150,000 cash held with J.P. Morgan Chase Bank, N.A, the Counterparty. |
| Abbreviations: | |
| LIBOR | —London Interbank Offered Rate |
| USD | —U.S. Dollar |
| Level 1 | Level 2 | Level 3 | Total | |
| Investments in Securities | ||||
| Asset-Backed Securities | $— | $87,584,287 | $— | $87,584,287 |
| Preferred Stocks | 9,162,430 | — | — | 9,162,430 |
| U.S. Dollar Denominated Bonds & Notes | — | 3,000,000 | — | 3,000,000 |
| U.S. Government Sponsored Agency Mortgage-Backed Securities | — | 922,020 | — | 922,020 |
| U.S. Treasury Securities | — | 285,126 | — | 285,126 |
| Money Market Funds | 5,273,016 | — | — | 5,273,016 |
| Total Investments in Securities | 14,435,446 | 91,791,433 | — | 106,226,879 |
| Other Investments - Assets* | ||||
| Swap Agreements | — | 18,697 | — | 18,697 |
| Other Investments - Liabilities* | ||||
| Swap Agreements | — | (752,576) | — | (752,576) |
| Total Other Investments | — | (733,879) | — | (733,879) |
| Reverse Repurchase Agreements | — | (27,000,000) | — | (27,000,000) |
| Total Investments | $14,435,446 | $64,057,554 | $— | $78,493,000 |
| * | Unrealized appreciation (depreciation). |