NPORT-EX 2 QualityIncome.htm
Schedule of Investments
September 30, 2019
(Unaudited)
  Principal
Amount 		Value
U.S. Government Sponsored Agency Mortgage-Backed Securities–92.88%
Collateralized Mortgage Obligations–2.80%
Fannie Mae ACES, 2.76% (1 mo. USD LIBOR + 0.59%), 09/25/2023(a)    $1,657,858    $1,656,981
Fannie Mae Grantor Trust, 7.50%, 01/19/2039(b)      224,206      243,816
Fannie Mae Interest STRIPS                        
IO
6.50%, 10/25/2024 		      80,995        7,478
8.00%, 05/25/2030      517,867      124,155
7.50%, 01/25/2032      174,765       25,804
Fannie Mae REMICs                        
IO
3.00%, 10/25/26 to 02/25/28 		  11,953,350      806,290
8.00%, 08/18/27 to 09/18/27      483,717       94,170
6.00%, 05/25/2033       29,079        5,915
4.63%, (1 mo. USD LIBOR + 6.65%), 03/25/2039(a)    5,424,532      397,884
3.50%, 08/25/2042    1,004,848       95,830
1.79%, 02/25/2056(b)   12,067,108      633,822
7.00%, 09/25/32 to 05/25/33      657,209      305,508
6.59%, 06/25/2039(b)      709,426      822,486
2.52%, (1 mo. USD LIBOR + 0.50%), 06/25/2046(a)      620,511      622,669
Freddie Mac Multifamily Structured Pass Through Ctfs., 3.19% (12 mo. MTA Rate + 0.74%), 05/25/2044(a)    1,226,724    1,227,930
Freddie Mac REMICs                        
IO
3.00%, 09/15/25 to 04/15/26 		   1,211,088       66,083
2.50%, 09/15/2027    1,840,261      112,957
2.10%, 02/15/2039(b)    4,521,341      261,383
4.00%, 12/15/2041    1,052,056       68,247
2.58%, (1 mo. USD LIBOR + 0.55%), 10/15/2036(a)      700,344      705,114
2.73%, (1 mo. USD LIBOR + 0.50%), 03/15/2042(a)      249,773      250,216
Freddie Mac STRIPS, IO, 8.00%, 06/15/2031      798,197      205,714
Freddie Mac Structured Pass Through Ctfs., 6.50%, 02/25/2043    1,628,418    1,958,399
Freddie Mac Whole Loan Securities Trust, 3.00%, 09/25/2045    1,600,165    1,616,847
Ginnie Mae REMICs, 3.96%, 09/20/2041(b)    1,424,743    1,497,043
      13,812,741
  Principal
Amount 		Value
Federal Home Loan Mortgage Corp. (FHLMC)–17.71%
5.00%, 02/01/2020 to 06/01/2040    $4,767,638    $5,271,875
3.50%, 08/01/2026 to 09/01/2049   17,109,767   17,762,086
6.50%, 05/01/2028 to 08/01/2033      296,552      330,662
6.00%, 03/01/2029        2,571        2,892
2.50%, 02/01/2031    3,003,508    3,035,361
8.50%, 08/01/2031      186,782      225,857
3.00%, 02/01/2032    9,530,749    9,818,027
8.00%, 08/01/2032      156,953      186,496
7.50%, 05/01/2035      247,167      292,241
5.50%, 12/01/2036      168,269      190,318
4.50%, 05/01/2038 to 02/01/2042   13,255,944   14,375,652
5.35%, 07/01/2038 to 10/17/2038    1,609,184    1,782,251
5.80%, 10/01/2038 to 01/20/2039      737,025      812,375
5.45%, 11/25/2038    1,916,030    2,128,372
4.00%, 06/01/2042 to 07/01/2049   27,085,374   28,566,956
ARM,                        
4.65%, (1 yr. USD LIBOR + 1.88%), 07/01/2036(a)    1,032,339    1,087,655
5.21%, (1 yr. USD LIBOR + 2.07%), 02/01/2037(a)       81,303       86,397
5.31%, (1 yr. USD LIBOR + 2.18%), 03/01/2037(a)      290,061      308,596
4.75%, (1 yr. USD LIBOR + 1.88%), 05/01/2037(a)      380,427      403,867
4.85%, (1 yr. USD LIBOR + 1.97%), 11/01/2037(a)      544,525      575,331
5.20%, (1 yr. USD LIBOR + 2.01%), 01/01/2038(a)       71,093       74,853
4.85%, (1 yr. USD LIBOR + 1.85%), 03/01/2041(a)       21,609       22,787
      87,340,907
 
See accompanying notes which are an integral part of this schedule.
Invesco Quality Income Fund
  Principal
Amount 		Value
Federal National Mortgage Association (FNMA)–52.51%
8.00%, 07/01/2020 to 04/01/2033      $350,259      $421,334
6.50%, 06/01/2022 to 11/01/2038    1,925,732    2,174,408
5.50%, 11/01/2022 to 04/01/2038    5,690,817    6,339,014
7.00%, 07/01/2023 to 12/01/2033      235,892      247,376
4.50%, 07/01/2025 to 12/01/2048   13,653,854   14,667,070
5.00%, 06/01/2027 to 01/01/2041    4,610,942    5,076,696
3.00%, 02/01/2028 to 11/01/2045   14,701,228   15,132,789
9.50%, 04/01/2030       25,209       28,359
3.50%, 11/01/2030 to 09/01/2049   62,431,377   64,827,650
5.63%, 08/01/2032      267,236      283,502
8.50%, 10/01/2032      317,230      380,480
6.00%, 12/01/2035 to 05/01/2040    1,588,996    1,790,674
7.50%, 08/01/2037      383,720      454,373
5.45%, 01/01/2038      362,596      392,766
4.00%, 02/01/2042 to 11/01/2048   39,038,383   41,476,087
TBA,                        
2.50%, 11/01/2034(c)   12,000,000   12,100,547
3.00%, 11/01/2034 to 11/01/2049(c)   76,450,000   77,695,369
3.50%, 10/01/2049(c)   12,900,000   13,236,105
ARM,                        
4.63%, (1 yr. USD LIBOR + 1.72%), 03/01/2038(a)      118,694      124,895
4.11%, (1 yr. USD LIBOR + 1.30%), 02/01/2039(a)    1,290,645    1,334,559
3.06%, (1 yr. USD LIBOR + 1.67%), 08/01/2042(a)      713,014      725,517
      258,909,570
Government National Mortgage Association (GNMA)–19.86%
TBA,                        
4.00%, 11/19/2018(c)   16,800,000   17,468,063
3.00%, 11/01/2048(c)   29,800,000   30,557,804
3.50%, 11/01/2049(c)   32,500,000   33,660,352
9.00%, 10/15/2019 to 08/15/2024        2,255        2,259
9.50%, 11/15/2019 to 06/15/2022       15,735       15,802
8.00%, 03/15/2020 to 12/15/2021       28,002       28,082
7.00%, 11/15/2022 to 01/15/2029      174,296      180,811
6.50%, 04/15/2026 to 11/15/2028       79,013       87,490
6.00%, 01/15/2028 to 04/20/2029      210,186      233,652
  Principal
Amount 		Value
Government National Mortgage Association (GNMA)–
(continued)
5.50%, 05/15/2033 to 10/15/2034      $593,399      $667,388
5.00%, 11/20/2037      571,766      618,025
5.88%, 01/20/2039(b)    1,459,094    1,647,565
4.49%, 07/20/2041(b)    2,203,175    2,384,642
3.50%, 07/20/2046    5,930,986    6,230,332
4.00%, 02/20/2048    3,945,013    4,157,842
      97,940,109
Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $464,568,858) 458,003,327
Asset-Backed Securities–38.04%
Adjustable Rate Mortgage Trust, Series 2005-7, Class 2A21, 4.29%, 10/25/2035(b)      402,550      372,938
Agate Bay Mortgage Trust, Series 2015-2, Class B1, 3.73%, 03/25/2045(b)(d)    3,403,802    3,556,599
American Home Mortgage Investment Trust, Series 2005-1, Class 7A1, 4.04% (6 mo. USD LIBOR + 2.00%), 06/25/2045(a)      111,023      111,586
Angel Oak Mortgage Trust, LLC, Series 2017-1, Class A1, 2.81%, 01/25/2047(b)(d)      207,519      207,652
Arroyo Mortgage Trust, Series 2019-3, Class A3, 3.42%, 10/25/2048(b)(d)    4,776,716    4,823,536
Banc of America Funding Trust,                        
Series 2006-3, Class 5A5, 5.50%, 03/25/2036       66,088       63,640
Series 2006-A, Class 1A1, 4.70%, 02/20/2036(b)      581,561      583,734
Bear Stearns Adjustable Rate Mortgage Trust, Series 2005-1, Class 2A1, 4.31%, 03/25/2035(b)    1,392,061    1,426,618
BX Commercial Mortgage Trust, Series 2018-BIOA, Class C, 3.15% (1 mo. USD LIBOR + 1.12%), 03/15/2037(a)(d)    6,500,000    6,509,751
CGDBB Commercial Mortgage Trust,                        
Series 2017-BIOC, Class B, 3.00% (1 mo. USD LIBOR + 0.97%), 07/15/2032(a)(d)    3,000,000    3,002,705
Series 2017-BIOC, Class C, 3.08% (1 mo. USD LIBOR + 1.05%), 07/15/2032(a)(d)    2,954,000    2,956,686
Chase Mortgage Finance Corp.,                        
Series 2016-1, Class M3, 3.75%, 04/25/2045(b)(d)    2,651,540    2,718,080
Series 2016-2, Class M4, 3.75%, 12/25/2045(b)(d)    2,633,739    2,646,655
See accompanying notes which are an integral part of this schedule.
Invesco Quality Income Fund
  Principal
Amount 		Value
Chase Mortgage Finance Trust,                        
Series 2005-A1, Class 3A1, 4.23%, 12/25/2035(b)       $30,744       $30,069
Series 2007-A2, Class 2A1, 4.40%, 07/25/2037(b)      583,937      591,907
Series 2007-A2, Class 2A4, 4.40%, 07/25/2037(b)      539,434      542,342
CHL Mortgage Pass Through Trust, Series 2004-29, Class 1A1, 2.56% (1 mo. USD LIBOR + 0.54%), 02/25/2035(a)      311,011      303,684
Citigroup Mortgage Loan Trust, Inc.,                        
Series 2004-UST1, Class A4, 4.36%, 08/25/2034(b)      131,590      128,162
Series 2005-11, Class A2A, 4.38% (1 yr. U.S. Treasury Yield Curve Rate + 2.40%), 10/25/2035(a)    1,226,089    1,272,381
Series 2006-AR2, Class 1A2, 4.78%, 03/25/2036(b)       46,970       45,769
Commercial Mortgage Trust,                        
Series 2013-LC13, Class XA, 1.33%, 08/10/2046(b)   29,931,018    1,001,621
Series 2014-FL5, Class B, 3.58% (1 mo. USD LIBOR + 2.15%), 10/15/2031(a)(d)       91,554       91,649
Series 2014-LC15, Class D, 5.15%, 04/10/2047(b)(d)    3,000,000    3,076,028
Series 2015-CR24, Class XA, 0.91%, 08/10/2048(b)   42,092,177    1,615,969
Series 2015-CR26, Class C, 4.63%, 10/10/2048(b)    1,997,000    2,145,272
Commonbond Student Loan Trust, Series 2018-CGS, Class A1, 3.87%, 02/25/2046(d)    4,081,756    4,252,954
Credit Suisse First Boston Mortgage Securities Corp., Series 2004-AR5, Class 5A1, 4.73%, 06/25/2034(b)      870,713      885,860
Credit Suisse Mortgage Capital Trust,                        
Series 2013-6, Class 2A1, 3.50%, 08/25/2043(b)(d)    1,257,542    1,280,106
Series 2013-7, Class B1, 3.58%, 08/25/2043(b)(d)    4,599,737    4,769,605
Credit Suisse Mortgage Loan Trust, Series 2015-1, Class A9, 3.50%, 05/25/2045(b)(d)    2,206,026    2,243,393
DBGS Mortgage Trust, Series 2018-BIOD, Class A, 2.83% (1 mo. USD LIBOR + 0.80%), 05/15/2035(a)(d)    4,640,695    4,647,956
DBUBS Mortgage Trust, Series 2011-LC3A, Class C, 5.51%, 08/10/2044(b)(d)    5,000,000    5,239,534
Deephaven Residential Mortgage Trust, Series 2017-3A, Class A1, 2.58%, 10/25/2047(b)(d)      921,039      920,529
Deutsche Mortgage Securities Inc Re-REMIC Trust Certificates, Series 2007-WM1, Class A1, 3.81%, 06/27/2037(b)(d)    2,812,358    2,901,017
  Principal
Amount 		Value
FREMF Mortgage Trust, Series 2017-KF41, Class B, 4.59% (1 mo. USD LIBOR + 2.50%), 11/25/2024(a)(d)      $639,635      $645,256
Galton Funding Mortgage Trust, Series 2018-1, Class A33, 3.50%, 11/25/2057(b)(d)    3,093,850    3,128,372
GCAT LLC, Series 2019-NQM1, Class A1, 2.99%, 02/25/2059(d)(e)    4,690,594    4,713,211
GCAT Trust, Series 2019-NM2, Class A1, 2.86%, 09/25/2059(d)(e)    3,735,000    3,739,326
GMACM Mortgage Loan Trust, Series 2005-AR3, Class 2A1, 4.01%, 06/19/2035(b)    1,200,981    1,221,821
GSAA Home Equity Trust, Series 2007-7, Class A4, 2.29% (1 mo. USD LIBOR + 0.27%), 07/25/2037(a)       94,293       92,360
GSR Mortgage Loan Trust, Series 2004-12, Class 3A6, 4.22%, 12/25/2034(b)      536,017      546,978
Home Partners of America Trust,                        
Series 2017-1, Class C, 3.57% (1 mo. USD LIBOR + 1.55%), 07/17/2034(a)(d)    3,000,000    3,005,126
Series 2017-1, Class D, 3.92% (1 mo. USD LIBOR + 1.90%), 07/17/2034(a)(d)    6,620,000    6,631,641
Invitation Homes Trust,                        
Series 2017-SFR2, Class C, 3.47% (1 mo. USD LIBOR + 1.45%), 12/17/2036(a)(d)    3,208,000    3,209,489
Series 2017-SFR2, Class D, 3.82% (1 mo. USD LIBOR + 1.80%), 12/17/2036(a)(d)    7,916,000    7,935,355
Series 2018-SFR3, Class B, 3.17% (1 mo. USD LIBOR + 1.15%), 07/17/2037(a)(d)    5,000,000    5,000,086
Series 2018-SFR4, Class C, 3.42% (1 mo. USD LIBOR + 1.40%), 01/17/2038(a)(d)    4,229,000    4,232,009
See accompanying notes which are an integral part of this schedule.
Invesco Quality Income Fund
  Principal
Amount 		Value
JP Morgan Mortgage Trust,                        
Series 2005-A1, Class 3A1, 4.65%, 02/25/2035(b)    $1,054,417    $1,090,021
Series 2005-A3, Class 6A5, 4.53%, 06/25/2035(b)      818,411      837,239
Series 2014-1, Class 1A17, 4.00%, 01/25/2044(b)(d)    2,656,773    2,754,296
Series 2015-3, Class A3, 3.50%, 05/25/2045(b)(d)    3,824,755    3,906,243
Series 2015-5, Class A2, 3.34%, 05/25/2045(b)(d)    1,289,362    1,291,872
Series 2016-5, Class A1, 2.66%, 12/25/2046(b)(d)    2,114,554    2,118,758
Series 2017-5, Class A1, 3.18%, 10/26/2048(b)(d)    3,639,466    3,693,739
Series 2018-7FRB, Class A2, 2.90% (1 mo. USD LIBOR + 0.75%), 04/25/2046(a)(d)    4,432,264    4,428,899
Series 2019-INV2, Class A15, 3.50%, 02/25/2050(b)(d)    1,073,000    1,081,987
Luminent Mortgage Trust, Series 2006-1, Class A1, 2.26% (1 mo. USD LIBOR + 0.24%), 04/25/2036(a)       53,611       46,294
Merrill Lynch Mortgage Investors Trust,                        
Series 2005-3, Class 3A, 4.46% (1 mo. USD LIBOR + 0.25%), 11/25/2035(a)      512,855      528,971
Series 2005-A, Class A1, 2.48% (1 mo. USD LIBOR + 0.46%), 03/25/2030(a)      603,607      595,025
Mill City Mortgage Loan Trust, Series 2017-1, Class A1, 2.75%, 11/25/2058(b)(d)    2,128,237    2,139,053
New Residential Mortgage Loan Trust,                        
Series 2018-4A, Class A1S, 2.77% (1 mo. USD LIBOR + 0.75%), 01/25/2048(a)(d)    3,561,539    3,559,870
Series 2019-NQM4, Class A3, 2.80%, 09/25/2059(b)(d)    7,500,000    7,514,662
OBX Trust, Series 2018-EXP1, Class 2A1, 2.87% (1 mo. USD LIBOR + 0.85%), 04/25/2048(a)(d)    3,369,437    3,378,921
RALI Trust, Series 2006-QO2, Class A2, 2.29% (1 mo. USD LIBOR + 0.27%), 02/25/2046(a)       49,055       18,912
RBSSP Resecuritization Trust, Series 2010-1, Class 2A1, 4.41% ,7/26/2045 (Acquired 01/31/2011-02/23/2016; Cost $893,583), 07/26/2045(b)(d)      587,424      604,404
Sequoia Mortgage Trust, Series 2013-4, Class A3, 1.55%, 04/25/2043(b)    1,114,475    1,077,767
Shellpoint Asset Funding Trust, Series 2013-1, Class A3, 3.75%, 07/25/2043(b)(d)    1,951,770    1,966,403
  Principal
Amount 		Value
Starwood Waypoint Homes Trust, Series 2017-1, Class D, 3.98% (1 mo. USD LIBOR + 1.95%), 01/17/2035(a)(d)    $5,750,000    $5,758,891
Stonemont Portfolio Trust, Series 2017-MONT, Class F, 5.64% (1 mo. USD LIBOR + 3.60%), 08/20/2030(a)(d)    1,932,590    1,939,443
Structured Adjustable Rate Mortgage Loan Trust,                        
Series 2004-13, Class A2, 0.49% (1 mo. USD LIBOR + 0.30%), 09/25/2034(a)      386,419      372,725
Series 2004-20, Class 3A1, 4.04%, 01/25/2035(b)      191,315      193,599
Structured Asset Mortgage Investments, II Trust, Series 2005-AR2, Class 2A1, 2.48% (1 mo. USD LIBOR + 0.46%), 05/25/2045(a)      962,010      963,536
Structured Asset Securities Corp., Series 2002-21A, Class B1II, 4.56%, 11/25/2032(b)      168,808      165,483
Towd Point Mortgage Trust,                        
Series 2015-4, Class A1, 3.50%, 04/25/2055(b)(d)      578,143      583,713
Series 2017-2, Class A1, 2.75%, 04/25/2057(b)(d)    3,771,729    3,805,046
Verus Securitization Trust,                        
Series 2017-2A, Class A2, 2.64%, 07/25/2047(b)(d)    1,701,934    1,697,551
Series 2017-2A, Class A3, 2.85%, 07/25/2047(b)(d)    1,668,563    1,664,893
Series 2018-1, Class A3, 3.21%, 02/25/2048(b)(d)    2,166,830    2,172,792
Series 2018-3, Class A-2, 4.18%, 10/25/2058(b)(d)    3,094,416    3,136,579
Series 2018-INV1, Class A3, 4.05%, 03/25/2058(b)(d)      937,928      945,036
Series 2019-3, Class A1, 2.78%, 07/25/2059(d)(e)    4,866,065    4,873,195
WaMu Mortgage Pass-Through Trust, Series 2007-HY2, Class 2A1, 4.06%, 11/25/2036(b)      124,432      118,637
Wells Fargo Commercial Mortgage Trust, Series 2018- BXI, Class C, 3.18% (1 mo. USD LIBOR + 1.16%), 12/15/2036(a)(d)    1,478,480    1,475,076
Wells Fargo Mortgage Backed Securities Trust,                        
Series 2005-AR12, Class 1A1, 5.03%, 05/25/2035(b)      362,722      376,055
Series 2005-AR2, Class 2A2, 5.14%, 03/25/2035(b)       93,871       97,503
Series 2006-AR6, Class 7A2, 4.82%, 03/25/2036(b)      766,463      785,992
WFRBS Commercial Mortgage Trust, Series 2013-C17, Class D, 5.23%, 12/15/2046(b)(d)    2,600,000    2,763,730
Total Asset-Backed Securities (Cost $184,855,534) 187,589,828
See accompanying notes which are an integral part of this schedule.
Invesco Quality Income Fund
  Principal
Amount 		Value
Agency Credit Risk Transfer Notes–5.64%
Fannie Mae Connecticut Avenue Securities, Series 2014-C03, Class 2M2, 4.92%, (1 mo. USD LIBOR + 2.90%) 07/25/2024(a)    $3,605,409    $3,758,162
Freddie Mac                        
Series 2014-DN1, Class M2, STACR®, 4.22%, (1 mo. USD LIBOR + 2.20%) 02/25/2024(a)    1,013,493    1,025,720
Series 2015-HQ1, Class M3, STACR®, 5.82%, (1 mo. USD LIBOR + 3.80%) 03/25/2025(a)    3,976,148    4,093,754
Series 2015-DNA1, Class M2, STACR®, 3.87%, (1 mo. USD LIBOR + 1.85%) 10/25/2027(a)    3,533,145    3,557,213
Series 2016-DNA1, Class M2, STACR®, 5.05%, (1 mo. USD LIBOR + 2.90%) 07/25/2028(a)    1,949,225    1,962,821
Series 2016-HQA1, Class M2, STACR®, 4.77%, (1 mo. USD LIBOR + 2.75%) 09/25/2028(a)    1,137,019    1,142,606
Series 2016-HQA2, Class M2, STACR®, 4.27%, (1 mo. USD LIBOR + 2.25%) 11/25/2028(a)    2,003,340    2,013,062
Series 2016-HQA4, Class M2, STACR®, 3.32%, (1 mo. USD LIBOR + 1.30%) 04/25/2029(a)    2,817,866    2,828,808
Series 2017-DNA2, Class M1, STACR®, 3.22%, (1 mo. USD LIBOR + 1.20%) 10/25/2029(a)    3,665,503    3,678,824
Series 2018-DNA2, Class M1, STACR®, 2.82%, (1 mo. USD LIBOR + 0.80%) 12/25/2030(a)(d)    3,740,246    3,745,000
Total Agency Credit Risk Transfer Notes (Cost $28,362,995) 27,805,970
  Principal
Amount 		Value
U.S. Treasury Securities–0.08%
U.S. Treasury Bills–0.08%(f)
1.80%, 12/19/2019
(Cost $403,202)(g) 		     $405,000      $403,462
  Shares  
Money Market Funds–3.93%
Invesco Government & Agency Portfolio, Institutional Class, 1.83%(h)  6,784,756    6,784,756
Invesco Liquid Assets Portfolio, Institutional Class, 1.98%(h)  4,844,555    4,846,008
Invesco Treasury Portfolio, Institutional Class, 1.79%(h)  7,754,007    7,754,007
Total Money Market Funds (Cost $19,384,771) 19,384,771
TOTAL INVESTMENTS IN SECURITIES–140.57% (Cost $697,575,360) 693,187,358
OTHER ASSETS LESS LIABILITIES—(40.57)% (200,060,742)
NET ASSETS–100.00% $493,126,616
Investment Abbreviations:
ACES – Automatically Convertible Extendable Security
ARM – Adjustable Rate Mortgage
Ctfs. – Certificates
IO – Interest Only
LIBOR – London Interbank Offered Rate
MTA – Moving Treasury Average
REMICs – Real Estate Mortgage Investment Conduits
STACR® – Structured Agency Credit Risk
STRIPS – Separately Traded Registered Interest and Principal Security
TBA – To Be Announced
USD – U.S. Dollar
Notes to Schedule of Investments:
(a) Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on September 30, 2019.
(b) 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 September 30, 2019.
(c) Security purchased on a forward commitment basis. This security is subject to dollar roll transactions.
(d) 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 September 30, 2019 was $171,084,358, which represented 34.69% of the Fund’s Net Assets.
(e) Step coupon bond. The interest rate represents the coupon rate at which the bond will accrue at a specified date.
(f) Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.
(g) All or a portion of the value was pledged as collateral to cover margin requirements for open futures contracts.
(h) The money market fund and the Fund are affiliated by having the same investment adviser. The rate shown is the 7-day SEC standardized yield as of September 30, 2019.
    
See accompanying notes which are an integral part of this schedule.
Invesco Quality Income Fund
Open Futures Contracts
Short Futures Contracts Number of
Contracts 		Expiration
Month 		Notional
Value 		Value Unrealized
Appreciation
(Depreciation)
Interest Rate Risk
U.S. Treasury 2 Year Notes 157 December-2019 $(33,833,500) $32,719 $32,719
U.S. Treasury 5 Year Notes 118 December-2019 (14,059,516) (13,843) (13,843)
U.S. Treasury Ultra Bonds 34 December-2019 (6,524,812) 202,856 202,856
Total Futures Contracts $221,732 $221,732
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.
Invesco Quality Income Fund
Notes to Quarterly Schedule of Portfolio Holdings
September 30, 2019
(Unaudited)
NOTE 1—Additional Valuation Information
Generally Accepted Accounting Principles ("GAAP") defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available or are unreliable. 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 Fund’s own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.
The following is a summary of the tiered valuation input levels, as of September 30, 2019. 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
Investments in Securities        
U.S. Government Sponsored Agency Mortgage-Backed Securities $— $458,003,327 $— $458,003,327
Asset-Backed Securities — 187,589,828 — 187,589,828
Agency Credit Risk Transfer Notes — 27,805,970 — 27,805,970
U.S. Treasury Securities — 403,462 — 403,462
Money Market Funds 19,384,771 — — 19,384,771
Total Investments in Securities 19,384,771 673,802,587 — 693,187,358
Other Investments - Assets*        
Futures Contracts 235,575 — — 235,575
Other Investments - Liabilities*        
Futures Contracts (13,843) — — (13,843)
Total Other Investments 221,732 — — 221,732
Total Investments $19,606,503 $673,802,587 $— $693,409,090
    
* Unrealized appreciation (depreciation).
Invesco Quality Income Fund