NPORT-EX 2 edgar.htm
Consolidated Schedule of Investments
July 31, 2023
(Unaudited)
  Principal
Amount 		Value
Non-U.S. Dollar Denominated Bonds & Notes–61.27%(a)
Argentina–0.47%
Argentina Treasury Bond BONCER, 1.50%, 03/25/2024 ARS     300,000,000     $5,893,209
Argentine Bonos del Tesoro, 15.50%, 10/17/2026 ARS     135,000,000       141,368
Provincia de Buenos Aires, 96.40% (BADLAR + 3.75%), 04/12/2025(b)(c) ARS     120,000,000       409,555
      6,444,132
Australia–1.63%
New South Wales Treasury Corp., 3.00%, 02/20/2030(b) AUD      35,800,000    22,188,730
Austria–0.75%
Erste Group Bank AG,                              
6.50%(b)(d)(e) EUR       3,200,000     3,472,222
5.13%(b)(d)(e) EUR       2,800,000     2,774,220
Republic of Austria Government Bond, 2.10%, 09/20/2117(b) EUR       5,125,000     3,973,872
      10,220,314
Belgium–0.74%
KBC Group N.V.,                              
4.25%(b)(d)(e) EUR       4,400,000     4,304,424
4.75%(b)(d)(e) EUR       5,400,000     5,839,111
      10,143,535
Brazil–6.03%
Brazil Notas do Tesouro Nacional,                              
Series B, 6.00%, 05/15/2055 BRL      28,000,000    26,879,938
Series F, 10.00%, 01/01/2027 BRL     250,000,000    52,912,981
Swiss Insured Brazil Power Finance S.a r.l., 9.85%, 07/16/2032(b) BRL      12,508,875     2,479,951
      82,272,870
Colombia–6.45%
Colombian TES,                              
Series B, 7.75%, 09/18/2030 COP 175,000,000,000    39,667,143
Series B, 7.25%, 10/18/2034 COP  47,750,000,000     9,829,840
Series B, 9.25%, 05/28/2042 COP  16,250,000,000     3,733,780
Series B, 7.25%, 10/26/2050 COP 151,500,000,000    27,659,336
Fideicomiso PA Concesion Ruta al Mar, 6.75%, 02/15/2044(b) COP   8,000,000,000     1,224,177
  Principal
Amount 		Value
Colombia–(continued)
Fideicomiso PA Costera, Series B, 6.25%, 01/15/2034(b) COP   6,107,644,400     $1,304,553
PA Autopista Rio Magdalena, 6.05%, 06/15/2036(b) COP  23,500,000,000     4,657,801
      88,076,630
Egypt–0.42%
Egypt Government International Bond, 4.75%, 04/16/2026(b) EUR       6,800,000     5,701,470
France–3.71%
French Republic Government Bond OAT,                              
0.00%, 05/25/2032(b) EUR      46,350,000    39,503,123
0.75%, 05/25/2052(b) EUR      14,240,000     8,218,738
0.50%, 05/25/2072(b) EUR       7,400,000     2,975,609
      50,697,470
Germany–0.57%
Bayer AG, 2.38%, 11/12/2079(b)(d) EUR       5,000,000     5,139,813
Deutsche Lufthansa AG, 4.38%, 08/12/2075(b)(d) EUR       2,500,000     2,583,452
      7,723,265
Greece–2.17%
Hellenic Republic Government Bond,                              
4.25%, 06/15/2033(b) EUR       5,500,000     6,308,546
4.38%, 07/18/2038(b) EUR      20,000,000    22,791,946
0.00%, 10/15/2042 EUR     107,000,000       455,292
      29,555,784
India–3.84%
India Government Bond,                              
8.15%, 11/24/2026 INR     500,000,000     6,265,911
6.54%, 01/17/2032 INR   1,000,000,000    11,680,421
7.26%, 08/22/2032 INR   1,300,000,000    15,857,870
State of Gujarat India, 7.52%, 05/24/2027 INR     500,000,000     6,115,127
State of Maharashtra India, 7.99%, 10/28/2025 INR     500,000,000     6,168,457
State of Tamil Nadu India, 8.53%, 03/09/2026 INR     500,000,000     6,258,521
      52,346,307
 
See accompanying notes which are an integral part of this consolidated schedule.
Invesco International Bond Fund
  Principal
Amount 		Value
Indonesia–2.52%
Indonesia Treasury Bond,                              
Series FR95, 6.38%, 08/15/2028 IDR 200,000,000,000    $13,501,989
Series FR96, 7.00%, 02/15/2033 IDR 300,000,000,000    20,955,040
      34,457,029
Italy–0.65%
Intesa Sanpaolo S.p.A.,                              
5.50%(b)(d)(e) EUR       4,000,000     3,824,194
5.88%(b)(d)(e) EUR       2,400,000     2,535,766
6.38%(b)(d)(e) EUR       2,500,000     2,469,341
      8,829,301
Ivory Coast–0.26%
Ivory Coast Government International Bond, 4.88%, 01/30/2032(b) EUR       3,950,000     3,534,876
Japan–1.60%
Japan Government Bond,                              
Series 15, 1.00%, 03/20/2062 JPY   2,405,700,000    14,227,391
Series 77, 1.60%, 12/20/2052 JPY   1,054,500,000     7,676,741
      21,904,132
Malaysia–0.90%
Malaysia Government Bond,                              
Series 115, 3.96%, 09/15/2025 MYR      25,000,000     5,606,564
Series 319, 3.48%, 06/14/2024 MYR      30,000,000     6,671,657
      12,278,221
Mexico–3.68%
Mexican Bonos,                              
Series M, 7.75%, 05/29/2031 MXN     731,000,000    41,009,777
Series M 30, 8.50%, 11/18/2038 MXN     160,000,000     9,268,820
      50,278,597
Netherlands–0.55%
ABN AMRO Bank N.V., 4.38%(b)(d)(e) EUR       2,500,000     2,545,079
Cooperatieve Rabobank U.A., 4.38%(b)(d)(e) EUR       5,000,000     4,926,416
      7,471,495
Peru–4.77%
Peru Government Bond,                              
6.15%, 08/12/2032 PEN     200,000,000    53,740,983
7.30%, 08/12/2033(b) PEN      39,300,000    11,348,392
      65,089,375
Poland–2.75%
Republic of Poland Government Bond, Series 432, 1.75%, 04/25/2032 PLN     200,000,000    37,546,965
  Principal
Amount 		Value
South Africa–8.53%
Republic of South Africa Government Bond,                              
Series 2030, 8.00%, 01/31/2030 ZAR     400,000,000    $20,074,090
Series 2032, 8.25%, 03/31/2032 ZAR     533,300,000    25,497,905
Series R186, 10.50%, 12/21/2026 ZAR   1,210,000,000    70,796,883
      116,368,878
Spain–2.90%
Banco Bilbao Vizcaya Argentaria S.A., 5.88%(b)(d)(e) EUR       5,000,000     5,505,589
Banco Santander S.A.,                              
4.38%(b)(d)(e) EUR       2,200,000     2,082,915
4.13%(d)(e) EUR       2,000,000     1,727,755
CaixaBank S.A.,                              
6.38%(b)(d)(e) EUR       5,000,000     5,507,155
5.25%(b)(d)(e) EUR       2,000,000     1,927,215
Repsol International Finance B.V., 3.75%(b)(d)(e) EUR       2,500,000     2,597,570
Spain Government Bond, 4.40%, 10/31/2023(b) EUR      14,000,000    15,416,834
Telefonica Europe B.V., 2.88%(b)(d)(e) EUR       5,000,000     4,835,603
      39,600,636
Supranational–1.73%
African Development Bank,                              
0.00%, 04/05/2046(f) ZAR     600,000,000     4,052,841
0.00%, 01/17/2050(f) ZAR     310,000,000     1,783,687
Corp. Andina de Fomento, 10.35%, 03/15/2033(b) MXN     200,000,000    12,133,174
International Finance Corp., 0.00%, 03/23/2038(f) MXN     350,000,000     5,622,574
      23,592,276
Sweden–0.10%
Heimstaden Bostad AB, 3.38%(b)(d)(e) EUR       2,500,000     1,356,734
Thailand–1.09%
Thailand Government Bond, 3.45%, 06/17/2043 THB     480,000,000    14,938,449
United Kingdom–2.18%
Barclays PLC, 7.13%(d)(e) GBP       2,150,000     2,609,895
Gatwick Airport Finance PLC, 4.38%, 04/07/2026(b) GBP       5,400,000     6,336,158
HSBC Holdings PLC, 5.88%(d)(e) GBP       5,000,000     5,817,744
International Consolidated Airlines Group S.A., 1.50%, 07/04/2027(b) EUR       2,600,000     2,499,033
See accompanying notes which are an integral part of this consolidated schedule.
Invesco International Bond Fund
    Principal
Amount 		Value
United Kingdom–(continued)
Lloyds Banking Group PLC, 8.50%(d)(e)   GBP       3,275,000     $4,026,794
Nationwide Building Society, 5.75%(b)(d)(e)   GBP       2,500,000     2,833,510
NatWest Group PLC, 5.13%(d)(e)   GBP       1,550,000     1,692,973
United Kingdom Gilt, 0.50%, 10/22/2061(b)   GBP       9,875,000     3,896,743
        29,712,850
Uruguay–0.28%
Uruguay Government International Bond, 9.75%, 07/20/2033   UYU     138,900,300     3,839,360
Total Non-U.S. Dollar Denominated Bonds & Notes (Cost $845,139,355)   836,169,681
       
U.S. Dollar Denominated Bonds & Notes–11.80%
Argentina–0.00%
Argentina Treasury Dual Bond, 0.00%, 04/30/2024(f)              $16,807        13,526
Brazil–0.76%
CSN Inova Ventures, 6.75%, 01/28/2028(b)             475,000       450,619
CSN Resources S.A., 5.88%, 04/08/2032(b)           1,500,000     1,251,857
Embraer Netherlands Finance B.V., 7.00%, 07/28/2030(b)           2,470,000     2,498,652
Sitios Latinoamerica S.A.B. de C.V., 5.38%, 04/04/2032(b)           6,786,000     6,207,582
        10,408,710
Chile–0.51%
AES Andes S.A., 6.35%, 10/07/2079(b)(d)           2,500,000     2,364,331
Mercury Chile Holdco LLC, 6.50%, 01/24/2027(b)           5,000,000     4,648,710
        7,013,041
China–0.13%
Prosus N.V., 4.99%, 01/19/2052(b)           2,500,000     1,832,623
Colombia–0.25%
Colombia Government International Bond, 4.13%, 02/22/2042           5,000,000     3,367,953
Dominican Republic–0.18%
Dominican Republic International Bond,                                
4.50%, 01/30/2030(b)             975,000       866,626
4.88%, 09/23/2032(b)           1,800,000     1,565,683
        2,432,309
    Principal
Amount 		Value
Egypt–0.15%
Egypt Government International Bond, 8.50%, 01/31/2047(b)           $3,550,000     $2,082,217
France–1.31%
BNP Paribas S.A.,                                
7.38%(b)(d)(e)           2,500,000     2,475,250
6.63%(b)(d)(e)(g)           2,000,000     1,950,000
7.75%(b)(d)(e)           2,500,000     2,494,750
Electricite de France S.A., 9.13%(b)(d)(e)(g)           3,334,000     3,513,202
Societe Generale S.A.,                                
7.38%(b)(d)(e)           2,500,000     2,470,826
7.88%(b)(d)(e)           2,500,000     2,476,254
8.00%(b)(d)(e)           2,500,000     2,450,313
        17,830,595
Ghana–0.08%
Ghana Government International Bond, 7.88%, 02/11/2035(b)           2,500,000     1,153,980
Guatemala–0.17%
CT Trust, 5.13%, 02/03/2032(b)           2,817,000     2,344,991
Hong Kong–0.34%
Melco Resorts Finance Ltd.,                                
4.88%, 06/06/2025(b)           2,500,000     2,388,662
5.75%, 07/21/2028(b)           2,500,000     2,237,792
        4,626,454
India–0.39%
JSW Steel Ltd., 3.95%, 04/05/2027(b)           6,000,000     5,347,703
Indonesia–0.34%
PT Indonesia Asahan Aluminium/PT Mineral Industri Indonesia (Persero), 6.76%, 11/15/2048(b)           2,700,000     2,683,174
PT Pertamina (Persero), 4.18%, 01/21/2050(b)(g)           2,500,000     1,987,592
        4,670,766
Iraq–0.10%
Iraq International Bond, 5.80%, 01/15/2028(b)           1,406,250     1,309,583
Ireland–0.61%
BB Blue Financing DAC, Series A1, 4.40%, 09/20/2037           2,500,000     2,507,695
See accompanying notes which are an integral part of this consolidated schedule.
Invesco International Bond Fund
    Principal
Amount 		Value
Ireland–(continued)
Coriolanus DAC,                                
Series 116, 0.00%, 04/30/2025(b)(f)             $693,302       $658,977
Series 119, 0.00%, 04/30/2025(b)(f)             737,589       701,072
Series 120, 0.00%, 04/30/2025(b)(f)             923,276       877,565
Series 122, 0.00%, 04/30/2025(b)(f)             808,934       768,884
Series 124, 0.00%, 04/30/2025(b)(f)             649,713       617,547
Series 126, 0.00%, 04/30/2025(b)             726,841       690,855
Series 127, 0.00%, 04/30/2025(b)(f)             841,894       800,213
0.00%, 04/30/2025(b)(f)             660,755       628,042
        8,250,850
Ivory Coast–0.22%
Ivory Coast Government International Bond, 5.38%, 07/23/2024(b)           3,009,000     2,964,431
Macau–0.29%
MGM China Holdings Ltd., 5.88%, 05/15/2026(b)(g)           4,000,000     3,885,600
Mexico–1.43%
Banco Mercantil del Norte S.A.,                                
8.38%(b)(d)(e)           2,500,000     2,452,650
5.88%(b)(d)(e)           2,490,000     2,178,750
Braskem Idesa S.A.P.I.,                                
7.45%, 11/15/2029(b)           5,000,000     3,439,264
6.99%, 02/20/2032(b)           2,076,000     1,340,434
Cemex S.A.B. de C.V., 5.13%(b)(d)(e)(g)           3,457,000     3,207,577
Nemak S.A.B. de C.V., 3.63%, 06/28/2031(b)(g)           4,254,000     3,374,711
Petroleos Mexicanos,                                
7.69%, 01/23/2050           2,500,000     1,742,033
6.95%, 01/28/2060           2,750,000     1,756,035
        19,491,454
Morocco–0.15%
OCP S.A., 3.75%, 06/23/2031(b)           2,500,000     2,105,510
Nigeria–0.16%
Nigeria Government International Bond, 6.50%, 11/28/2027(b)           2,500,000     2,240,550
Oman–0.36%
Oman Government International Bond, 6.75%, 01/17/2048(b)           5,000,000     4,963,150
  Principal
Amount 		Value
Panama–0.16%
Telecomunicaciones Digitales S.A., 4.50%, 01/30/2030(b)         $2,500,000     $2,136,125
Romania–0.20%
Romanian Government International Bond, 7.13%, 01/17/2033(b)         2,500,000     2,693,345
Supranational–0.18%
European Bank for Reconstruction and Development, 6.40%, 08/27/2025         2,400,000     2,457,438
Sweden–0.35%
Swedbank AB, Series NC5, 5.63%(b)(d)(e)         5,000,000     4,781,030
Switzerland–0.69%
Cloverie PLC for Swiss Reinsurance Co. Ltd., 4.50%, 09/11/2044(b)(d)         4,500,000     4,321,462
Credit Suisse Group AG, 6.25%(b)(d)(e)(h)         9,800,000       588,000
UBS Group AG, 5.13%(b)(d)(e)         5,000,000     4,497,125
      9,406,587
Tanzania–0.32%
HTA Group Ltd., 7.00%, 12/18/2025(b)         4,500,000     4,306,995
United Kingdom–1.86%
abrdn PLC, 4.25%, 06/30/2028(b)         2,500,000     2,199,813
BP Capital Markets PLC, 4.88%(d)(e)         1,750,000     1,632,575
British Telecommunications PLC, 4.25%, 11/23/2081(b)(d)         5,000,000     4,446,431
Lloyds Banking Group PLC,                              
7.50%(d)(e)         2,000,000     1,950,840
7.50%(d)(e)         5,000,000     4,738,750
M&G PLC, 6.50%, 10/20/2048(b)(d)         1,300,000     1,303,231
NatWest Group PLC, 6.00%(d)(e)         5,000,000     4,691,750
Vodafone Group PLC, 3.25%, 06/04/2081(d)(g)         5,000,000     4,421,269
      25,384,659
United States–0.11%
U.S. International Development Finance Corp., Series 4, 3.13%, 04/15/2028         1,600,000     1,491,616
Total U.S. Dollar Denominated Bonds & Notes (Cost $185,719,387) 160,993,791
See accompanying notes which are an integral part of this consolidated schedule.
Invesco International Bond Fund
  Principal
Amount 		Value
Asset-Backed Securities–8.23%(a)
Alba PLC,                              
Series 2007-1, Class F, 8.27% (SONIA + 3.37%), 03/17/2039(b)(c) GBP       3,515,974     $4,269,515
Series 2006-2, Class F, 8.25% (SONIA + 3.37%), 12/15/2038(b)(c) GBP       1,160,692     1,390,125
Eurohome UK Mortgages PLC,                              
Series 2007-1, Class M2, 5.49% (3 mo. GBP LIBOR + 0.50%), 06/15/2044(b)(c) GBP       4,000,000     4,552,359
Series 2007-1, Class B1, 5.89% (3 mo. GBP LIBOR + 0.90%), 06/15/2044(b)(c) GBP       5,275,000     5,669,184
Series 2007-2, Class B1, 6.40% (SONIA + 1.52%), 09/15/2044(b)(c) GBP       4,000,000     4,041,283
Series 2007-1, Class M1, 5.29% (3 mo. GBP LIBOR + 0.30%), 06/15/2044(b)(c) GBP       5,200,000     6,080,925
Series 2007-2, Class B2, 9.00% (SONIA + 4.12%), 09/15/2044(b)(c) GBP       3,750,000     4,388,545
Eurosail PLC, Series 2007-4X, Class D1A, 6.74% (SONIA + 1.87%), 06/13/2045(b)(c) GBP       4,094,013     4,728,660
Eurosail-UK NC PLC, Series 2007-1X, Class D1C, 5.88% (SONIA + 1.01%), 03/13/2045(b)(c) GBP       2,500,000     2,741,940
Grifonas Finance No. 1 PLC, Class B, 3.75% (6 mo. EURIBOR + 0.52%), 08/28/2039(b)(c) EUR       5,000,000     4,771,529
Ludgate Funding PLC, Series 2007-1, Class RES, 0.00%, 01/01/2061(b)(i) GBP     207,500,000     1,018,046
Mansard Mortgages PLC,                              
Series 2006-1X, Class B2, 8.58% (SONIA + 3.62%), 10/15/2048(b)(c) GBP       3,647,111     4,531,803
Series 2007-1X, Class B2, 8.08% (SONIA + 3.12%), 04/15/2049(b)(c) GBP       2,264,186     2,620,920
  Principal
Amount 		Value
Newday Funding Master Issuer PLC,                              
Series 2021-1X, Class E, 8.99% (SONIA + 4.05%), 03/15/2029(b)(c) GBP       5,084,000     $6,434,640
Series 2021-3X, Class D, 7.29% (SONIA + 2.35%), 11/15/2029(b)(c) GBP       3,600,000     4,503,517
Newgate Funding PLC,                              
Series 2006-2, Class CB, 4.02% (3 mo. EURIBOR + 0.43%), 12/01/2050(b)(c) EUR       1,481,950     1,432,128
Series 2007-2X, Class CB, 3.97% (3 mo. EURIBOR + 0.44%), 12/15/2050(b)(c) EUR       1,996,164     1,836,329
Series 2007-1X, Class CB, 3.85% (3 mo. EURIBOR + 0.38%), 12/01/2050(b)(c) EUR       1,124,442     1,058,937
ResLoC UK PLC, Series 2007-1X, Class D1A, 4.73% (3 mo. EURIBOR + 1.20%), 12/15/2043(b)(c) EUR       3,968,705     3,868,268
RMAC Securities No. 1 PLC, Series 2006-NS4X, Class B1C, 4.34% (3 mo. EURIBOR + 0.85%), 06/12/2044(b)(c) EUR       7,652,951     7,615,095
Towd Point Mortgage Funding 2019 - Granite4 PLC,                              
Series 2019-GR4X, Class FR, 7.01% (SONIA + 2.05%), 10/20/2051(b)(c) GBP       3,000,000     3,778,599
Series 2019-GR4X, Class GR, 7.46% (SONIA + 2.50%), 10/20/2051(b)(c) GBP       2,500,000     3,143,552
Sestante Finance S.r.l., Series 2005, Class C1, 4.46% (3 mo. EURIBOR + 0.80%), 07/15/2045(b)(c) EUR       9,700,000     6,481,203
IM Pastor 4, FTA, Series B, 3.78% (3 mo. EURIBOR + 0.19%), 03/22/2044(b)(c) EUR       3,800,000     2,608,385
Lusitano Mortgages No. 5 PLC, Class D, 4.62% (3 mo. EURIBOR + 0.96%), 07/15/2059(b)(c) EUR       5,677,117     4,950,555
Fideicomiso Dorrego Y Libertador,                              
2.00%, 12/31/2043(j)        $10,843,617    10,301,436
0.00%, 12/31/2043(j) ARS     117,222,368       404,546
See accompanying notes which are an integral part of this consolidated schedule.
Invesco International Bond Fund
  Principal
Amount 		Value
Fideicomiso Financiero Invernea Proteina 2, Serie II, 0.00%, 08/25/2032(i)(j) ARS     445,000,000     $3,124,827
Total Asset-Backed Securities (Cost $121,959,740) 112,346,851
U.S. Treasury Securities–3.57%
U.S. Treasury Bills–3.57%
5.39%, 01/18/2024 (Cost $48,760,063)(k)        $48,760,063    48,760,712
  Shares  
Common Stocks & Other Equity Interests–2.80%
Argentina–2.80%
Banco BBVA Argentina S.A.         500,000     1,887,207
Banco Macro S.A., Class B         200,000     1,100,720
Grupo Financiero Galicia S.A., Class B       1,810,000     6,147,863
Pampa Energia S.A.(l)       1,450,000     4,877,940
YPF S.A., ADR(l)         400,000     5,956,000
YPF S.A., Class D(l)         610,000    18,215,272
Total Common Stocks & Other Equity Interests (Cost $25,357,274) 38,185,002
Money Market Funds–1.12%
Invesco Government & Agency Portfolio, Institutional Class, 5.18%(m)(n)       5,488,105     5,488,105
Invesco Liquid Assets Portfolio, Institutional Class, 5.28%(m)(n)       3,558,608     3,558,964
  Shares Value
Money Market Funds–(continued)
Invesco Treasury Portfolio, Institutional Class, 5.18%(m)(n)       6,272,120     $6,272,120
Total Money Market Funds (Cost $15,319,189) 15,319,189
Options Purchased–3.83%
(Cost $70,726,384)(o) 52,246,668
TOTAL INVESTMENTS IN SECURITIES (excluding Investments purchased with cash collateral from securities on loan)-92.62% (Cost $1,312,981,392)     1,264,021,894
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds–1.04%
Invesco Private Government Fund, 5.24%(m)(n)(p)       3,952,334     3,952,334
Invesco Private Prime Fund, 5.38%(m)(n)(p)      10,163,145    10,163,145
Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $14,115,322) 14,115,479
TOTAL INVESTMENTS IN SECURITIES—93.66% (Cost $1,327,096,714) 1,278,137,373
OTHER ASSETS LESS LIABILITIES–6.34% 86,579,208
NET ASSETS–100.00% $1,364,716,581
Investment Abbreviations:
ADR – American Depositary Receipt
ARS – Argentina Peso
AUD – Australian Dollar
BADLAR – Buenos Aires Deposits of Large Amounts Rate
BRL – Brazilian Real
COP – Colombia Peso
EUR – Euro
EURIBOR – Euro Interbank Offered Rate
GBP – British Pound Sterling
IDR – Indonesian Rupiah
INR – Indian Rupee
JPY – Japanese Yen
LIBOR – London Interbank Offered Rate
MXN – Mexican Peso
MYR – Malaysian Ringgit
PEN – Peruvian Sol
PLN – Polish Zloty
SONIA – Sterling Overnight Index Average
THB – Thai Baht
UYU – Uruguay Peso
ZAR – South African Rand
See accompanying notes which are an integral part of this consolidated schedule.
Invesco International Bond Fund
Notes to Consolidated Schedule of Investments:
(a) Foreign denominated security. Principal amount is denominated in the currency indicated.
(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 July 31, 2023 was $472,701,963, which represented 34.64% of the Fund’s Net Assets.
(c) Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on July 31, 2023.
(d) Security issued at a fixed rate for a specific period of time, after which it will convert to a variable rate.
(e) Perpetual bond with no specified maturity date.
(f) Zero coupon bond issued at a discount.
(g) All or a portion of this security was out on loan at July 31, 2023.
(h) Defaulted security. Currently, the issuer is in default with respect to principal and/or interest payments. The value of this security at July 31, 2023 represented less than 1% of the Fund’s Net Assets.
(i) 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 July 31, 2023.
(j) Security valued using significant unobservable inputs (Level 3). See Note 1.
(k) Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.
(l) Non-income producing security.
(m) 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 nine months ended July 31, 2023.
    
  Value
October 31, 2022 		Purchases
at Cost 		Proceeds
from Sales 		Change in
Unrealized
Appreciation
(Depreciation) 		Realized
Gain
(Loss) 		Value
July 31, 2023 		Dividend Income
Investments in Affiliated Money Market Funds:              
Invesco Government & Agency Portfolio, Institutional Class $23,284,920 $289,674,477 $(307,471,292) $- $- $5,488,105 $645,404
Invesco Liquid Assets Portfolio, Institutional Class 16,742,380 206,910,340 (220,095,992) (346) 2,582 3,558,964 477,312
Invesco Treasury Portfolio, Institutional Class 26,611,337 331,056,545 (351,395,762) - - 6,272,120 736,996
Investments Purchased with Cash Collateral from Securities on Loan:              
Invesco Private Government Fund 1,248,525 26,629,307 (23,925,498) - - 3,952,334 95,188*
Invesco Private Prime Fund 3,209,614 58,202,225 (51,246,178) 88 (2,604) 10,163,145 254,512*
Total $71,096,776 $912,472,894 $(954,134,722) $(258) $(22) $29,434,668 $2,209,412
    
* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.
    
(n) The rate shown is the 7-day SEC standardized yield as of July 31, 2023.
(o) The table below details options purchased.
(p) 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.
    
Open Over-The-Counter Foreign Currency Options Purchased(a)
Description Type of
Contract 		Counterparty Expiration
Date 		Exercise
Price 		Notional
Value 		Value
Currency Risk
AUD versus USD Call Goldman Sachs International 10/12/2023 USD 0.80 AUD 8,750,000 $ 8,399
AUD versus USD Call Goldman Sachs International 05/16/2024 USD 0.69 AUD 75,000,000 1,480,645
EUR versus USD Call Deutsche Bank AG 12/11/2023 USD 1.16 EUR 125,000,000 130,841
EUR versus USD Call Goldman Sachs International 08/01/2023 USD 1.18 EUR 250,000,000 275
EUR versus USD Call Goldman Sachs International 08/23/2023 USD 1.14 EUR 100,000,000 19,021
EUR versus USD Call Goldman Sachs International 08/24/2023 USD 1.12 EUR 100,000,000 130,841
EUR versus USD Call Goldman Sachs International 10/23/2023 USD 1.18 EUR 100,000,000 39,912
EUR versus USD Call Merrill Lynch International 10/23/2023 USD 1.18 EUR 9,000,000 194,803
EUR versus USD Call Standard Chartered Bank PLC 09/11/2023 USD 1.17 EUR 4,000,000 48,734
NZD versus USD Call Goldman Sachs International 10/12/2023 USD 0.70 NZD 14,285,714 114,424
Subtotal — Foreign Currency Call Options Purchased 2,167,895
See accompanying notes which are an integral part of this consolidated schedule.
Invesco International Bond Fund
Open Over-The-Counter Foreign Currency Options Purchased(a)—(continued)
Description Type of
Contract 		Counterparty Expiration
Date 		Exercise
Price 		Notional
Value 		Value
Currency Risk
CNH versus INR Put Goldman Sachs International 09/25/2023 INR 11.05 CNH 22,500,000 $83,867
EUR versus HUF Put Goldman Sachs International 12/01/2023 HUF 360.00 EUR 10,000,000 323,550
EUR versus HUF Put Merrill Lynch International 09/18/2023 HUF 365.00 EUR 2,500,000 59,447
EUR versus NOK Put J.P. Morgan Chase Bank, N.A. 09/14/2023 NOK 10.65 EUR 2,500,000 288,437
EUR versus NOK Put J.P. Morgan Chase Bank, N.A. 10/11/2023 NOK 11.25 EUR 40,000,000 43,540
EUR versus PLN Put Goldman Sachs International 09/22/2023 PLN 4.43 EUR 64,500,000 785,698
USD versus BRL Put Goldman Sachs International 11/14/2023 BRL 4.80 USD 5,000,000 1,420,415
USD versus BRL Put Goldman Sachs International 11/16/2023 BRL 4.50 USD 3,400,000 1,284,748
USD versus BRL Put Goldman Sachs International 12/18/2023 BRL 4.83 USD 50,000,000 1,599,650
USD versus BRL Put Merrill Lynch International 11/16/2023 BRL 4.80 USD 35,000,000 943,320
USD versus BRL Put Morgan Stanley and Co. International PLC 11/16/2023 BRL 4.50 USD 5,000,000 759,545
USD versus CAD Put J.P. Morgan Chase Bank, N.A. 10/26/2023 CAD 1.30 USD 50,000,000 257,050
USD versus CLP Put Morgan Stanley and Co. International PLC 11/14/2023 CLP 715.00 USD 2,000,000 8,576
USD versus CLP Put Morgan Stanley and Co. International PLC 11/14/2023 CLP 740.00 USD 2,000,000 24,904
USD versus CLP Put Morgan Stanley and Co. International PLC 11/30/2023 CLP 805.00 USD 40,000,000 333,000
USD versus CNH Put Morgan Stanley and Co. International PLC 09/20/2023 CNH 6.50 USD 3,000,000 2,481
USD versus COP Put Morgan Stanley and Co. International PLC 11/22/2023 COP 3,900.00 USD 50,000,000 826,400
USD versus IDR Put Goldman Sachs International 10/04/2023 IDR 14,750.00 USD 60,000,000 160,260
USD versus INR Put Standard Chartered Bank PLC 01/24/2024 INR 81.40 USD 50,000,000 269,950
USD versus JPY Put Goldman Sachs International 02/08/2024 JPY 113.00 USD 50,000,000 36,100
USD versus JPY Put Goldman Sachs International 05/07/2024 JPY 118.00 USD 50,000,000 162,950
USD versus JPY Put Goldman Sachs International 05/30/2024 JPY 115.00 USD 5,000,000 226,725
USD versus JPY Put Goldman Sachs International 06/10/2024 JPY 115.00 USD 5,000,000 239,475
USD versus JPY Put J.P. Morgan Chase Bank, N.A. 11/07/2023 JPY 114.00 USD 6,000,000 15,738
USD versus JPY Put Merrill Lynch International 08/16/2023 JPY 130.00 USD 75,000,000 2,025
USD versus JPY Put Merrill Lynch International 06/03/2024 JPY 115.00 USD 7,500,000 258,870
USD versus KRW Put Goldman Sachs International 12/19/2023 KRW 1,170.00 USD 2,500,000 186,240
USD versus KRW Put Merrill Lynch International 10/24/2023 KRW 1,240.00 USD 50,000,000 372,450
USD versus MXN Put Goldman Sachs International 10/30/2023 MXN 16.50 USD 100,000,000 821,700
USD versus MXN Put Goldman Sachs International 05/02/2024 MXN 17.20 USD 52,500,000 1,449,315
USD versus MXN Put J.P. Morgan Chase Bank, N.A. 12/07/2023 MXN 17.25 USD 5,000,000 294,480
USD versus THB Put Goldman Sachs International 01/18/2024 THB 31.05 USD 2,500,000 205,250
USD versus THB Put Standard Chartered Bank PLC 10/04/2023 THB 30.00 USD 5,000,000 17,410
USD versus THB Put Standard Chartered Bank PLC 02/23/2024 THB 30.65 USD 2,500,000 168,558
USD versus ZAR Put Goldman Sachs International 10/27/2023 ZAR 17.05 USD 37,500,000 344,962
USD versus ZAR Put Goldman Sachs International 05/14/2024 ZAR 15.00 USD 10,000,000 1,247,700
USD versus ZAR Put J.P. Morgan Chase Bank, N.A. 08/10/2023 ZAR 17.00 USD 50,000,000 17,900
USD versus ZAR Put Morgan Stanley and Co. International PLC 09/18/2023 ZAR 16.50 USD 2,500,000 159,990
Subtotal — Foreign Currency Put Options Purchased 15,702,676
Total Foreign Currency Options Purchased $17,870,571
    
(a) Over-The-Counter options purchased, options written and swap agreements are collateralized by cash held with Counterparties in the amount of $46,345,000.
    
See accompanying notes which are an integral part of this consolidated schedule.
Invesco International Bond Fund
Open Over-The-Counter Interest Rate Swaptions Purchased(a)
Description Type of
Contract 		Counterparty Exercise
Rate 		Pay/
Receive
Exercise
Rate 		Floating Rate
Index 		Payment
Frequency 		Expiration
Date 		Notional
Value 		Value
Interest Rate Risk
10 Year Interest Rate Swap Call Morgan Stanley and Co. International PLC 2.15% Receive 6 Month EURIBOR Semi-Annually 05/19/2033 EUR 40,000,000 $2,282,639
2 Year Interest Rate Swap Call Barclays Bank PLC 5.60 Receive SONIA Annually 12/05/2023 GBP 286,000,000 3,243,668
Subtotal — Interest Rate Call Swaptions Purchased               5,526,307
Interest Rate Risk
1 Year Interest Rate Swap Put Morgan Stanley and Co. International PLC 4.86 Pay SOFR Annually 08/21/2023 USD 250,000,000 1,168,287
10 Year Interest Rate Swap Put Morgan Stanley and Co. International PLC 3.77 Pay SOFR Annually 08/07/2023 USD 236,000,000 498,581
10 Year Interest Rate Swap Put Morgan Stanley and Co. International PLC 3.73 Pay SOFR Annually 10/27/2023 USD 30,000,000 415,318
10 Year Interest Rate Swap Put Morgan Stanley and Co. International PLC 3.65 Pay 6 Month EURIBOR Semi-Annually 05/19/2033 EUR 40,000,000 2,198,897
15 Year Interest Rate Swap Put Morgan Stanley and Co. International PLC 1.81 Pay 6 Month EURIBOR Semi-Annually 04/06/2038 EUR 67,500,000 6,450,482
15 Year Interest Rate Swap Put Morgan Stanley and Co. International PLC 3.38 Pay SONIA Annually 05/05/2038 GBP 65,000,000 11,522,534
30 Year Interest Rate Swap Put J.P. Morgan Chase Bank, N.A. 2.59 Pay 6 Month EURIBOR Semi-Annually 05/22/2025 EUR 44,000,000 3,886,456
30 Year Interest Rate Swap Put Morgan Stanley and Co. International PLC 2.82 Pay SOFR Annually 03/31/2025 USD 22,000,000 2,424,248
5 Year Interest Rate Swap Put J.P. Morgan Chase Bank, N.A. 0.75 Pay TONAR Annually 03/04/2024 JPY 10,400,000,000 284,987
Subtotal — Interest Rate Put Swaptions Purchased               28,849,790
Total Interest Rate Swaptions Purchased               $34,376,097
    
(a) Over-The-Counter options purchased, options written and swap agreements are collateralized by cash held with Counterparties in the amount of $46,345,000.
    
Open Over-The-Counter Credit Default Swaptions Written(a)  
Counterparty Type of
Contract 		Exercise
Rate 		Reference
Entity 		(Pay)/
Receive
Fixed
Rate 		Payment
Frequency 		Expiration
Date 		Implied
Credit
Spread(b) 		  Notional
Value 		    Value  
Credit Risk                          
J.P. Morgan Chase Bank, N.A. Put 97.00% Markit CDX North America High Yield Index, Series 40, Version 1 5.00% Quarterly 09/20/2023 4.086%   USD 150,000,000   $(130,194)  
    
(a) Over-The-Counter options purchased, options written and swap agreements are collateralized by cash held with Counterparties in the amount of $46,345,000.
(b) Implied credit spreads represent the current level, as of July 31, 2023, 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.
    
See accompanying notes which are an integral part of this consolidated schedule.
Invesco International Bond Fund
Open Over-The-Counter Foreign Currency Options Written(a)  
Description Type of
Contract 		Counterparty Expiration
Date 		Exercise
Price 		  Notional
Value 		    Value  
Currency Risk  
AUD versus USD Call Goldman Sachs International 05/16/2024 USD 0.73   AUD 75,000,000   $(534,858)  
EUR versus HUF Call Goldman Sachs International 09/15/2023 HUF 401.00   EUR 2,500,000   (553,013)  
EUR versus HUF Call Goldman Sachs International 12/01/2023 HUF 400.00   EUR 3,000,000   (1,258,210)  
EUR versus HUF Call J.P. Morgan Chase Bank, N.A. 10/12/2023 HUF 418.00   EUR 50,000,000   (325,782)  
EUR versus HUF Call Merrill Lynch International 12/18/2023 HUF 415.00   EUR 50,000,000   (823,911)  
EUR versus PLN Call Goldman Sachs International 09/22/2023 PLN 4.58   EUR 64,500,000   (201,406)  
USD versus BRL Call Goldman Sachs International 11/16/2023 BRL 5.10   USD 3,400,000   (569,371)  
USD versus BRL Call Goldman Sachs International 12/18/2023 BRL 5.30   USD 50,000,000   (481,450)  
USD versus BRL Call Goldman Sachs International 05/23/2024 BRL 5.55   USD 5,000,000   (629,765)  
USD versus BRL Call Merrill Lynch International 11/16/2023 BRL 5.25   USD 35,000,000   (265,510)  
USD versus CLP Call Morgan Stanley and Co. International PLC 11/30/2023 CLP 870.00   USD 40,000,000   (852,600)  
USD versus COP Call Morgan Stanley and Co. International PLC 08/10/2023 COP 4,500.00   USD 50,000,000   (1,100)  
USD versus COP Call Morgan Stanley and Co. International PLC 11/22/2023 COP 4,300.00   USD 50,000,000   (726,750)  
USD versus IDR Call Goldman Sachs International 10/04/2023 IDR 15,700.00   USD 60,000,000   (151,260)  
USD versus INR Call Standard Chartered Bank PLC 01/24/2024 INR 84.00   USD 50,000,000   (373,300)  
USD versus JPY Call Goldman Sachs International 08/07/2023 JPY 137.00   USD 50,000,000   (1,811,950)  
USD versus KRW Call Merrill Lynch International 10/24/2023 KRW 1,315.00   USD 50,000,000   (317,300)  
USD versus MXN Call Goldman Sachs International 10/30/2023 MXN 17.50   USD 100,000,000   (1,228,100)  
USD versus MXN Call Goldman Sachs International 05/02/2024 MXN 19.00   USD 52,500,000   (926,100)  
USD versus MXN Call Goldman Sachs International 05/15/2024 MXN 19.75   USD 3,000,000   (308,484)  
USD versus MXN Call J.P. Morgan Chase Bank, N.A. 10/31/2023 MXN 19.75   USD 75,000,000   (117,600)  
USD versus ZAR Call Goldman Sachs International 10/27/2023 ZAR 18.90   USD 37,500,000   (508,800)  
Subtotal — Foreign Currency Call Options Written             (12,966,620)  
Currency Risk  
AUD versus USD Put Goldman Sachs International 05/16/2024 USD 0.63   AUD 75,000,000   (629,668)  
EUR versus PLN Put Goldman Sachs International 09/22/2023 PLN 4.33   EUR 64,500,000   (154,884)  
USD versus BRL Put Goldman Sachs International 09/01/2023 BRL 4.80   USD 50,000,000   (1,018,350)  
USD versus BRL Put Goldman Sachs International 12/18/2023 BRL 4.50   USD 50,000,000   (352,800)  
USD versus BRL Put Merrill Lynch International 11/16/2023 BRL 4.55   USD 35,000,000   (253,645)  
USD versus CLP Put Morgan Stanley and Co. International PLC 11/30/2023 CLP 780.00   USD 40,000,000   (133,040)  
USD versus COP Put Morgan Stanley and Co. International PLC 11/22/2023 COP 3,700.00   USD 50,000,000   (246,350)  
USD versus INR Put Standard Chartered Bank PLC 01/24/2024 INR 79.50   USD 50,000,000   (83,800)  
USD versus MXN Put Goldman Sachs International 10/30/2023 MXN 16.15   USD 100,000,000   (364,700)  
USD versus MXN Put Goldman Sachs International 05/02/2024 MXN 16.40   USD 52,500,000   (601,230)  
USD versus ZAR Put Goldman Sachs International 10/27/2023 ZAR 16.50   USD 37,500,000   (146,625)  
Subtotal — Foreign Currency Put Options Written             (3,985,092)  
Total – Foreign Currency Options Written             $(16,951,712)  
    
(a) Over-The-Counter options purchased, options written and swap agreements are collateralized by cash held with Counterparties in the amount of $46,345,000.
    
See accompanying notes which are an integral part of this consolidated schedule.
Invesco International Bond Fund
Open Over-The-Counter Interest Rate Swaptions Written(a)  
Description Type of
Contract 		Counterparty Exercise
Rate 		Floating
Rate Index 		Pay/
Receive
Exercise
Rate 		Payment
Frequency 		Expiration
Date 		  Notional
Value 		    Value  
Interest Rate Risk  
2 Year Interest Rate Swap Call Barclays Bank PLC 5.10% SONIA Receive Annually 12/05/2023   GBP 286,000,000   $(1,708,136)  
10 Year Interest Rate Swap Call BNP Paribas S.A. 3.30 SOFR Receive Annually 01/11/2024   USD 75,000,000   (1,009,040)  
10 Year Interest Rate Swap Call Goldman Sachs International 3.25 SOFR Receive Annually 03/27/2024   USD 75,000,000   (1,312,470)  
1 Year Interest Rate Swap Call Goldman Sachs International 3.29 SOFR Receive Annually 06/30/2025   USD 100,000,000   (589,474)  
2 Year Interest Rate Swap Call J.P. Morgan Chase Bank, N.A. 2.75 SOFR Receive Annually 09/16/2024   USD 125,000,000   (561,058)  
10 Year Interest Rate Swap Call J.P. Morgan Chase Bank, N.A. 3.12 SOFR Receive Annually 01/16/2024   USD 125,000,000   (1,126,549)  
10 Year Interest Rate Swap Call J.P. Morgan Chase Bank, N.A. 2.44 6 Month EURIBOR Receive Semi-Annually 04/14/2025   EUR 75,000,000   (1,997,563)  
10 Year Interest Rate Swap Call J.P. Morgan Chase Bank, N.A. 3.50 SOFR Receive Annually 01/08/2024   USD 50,000,000   (932,937)  
5 Year Interest Rate Swap Call J.P. Morgan Chase Bank, N.A. 0.35 TONAR Receive Annually 03/04/2024   JPY 10,400,000,000   (321,992)  
10 Year Interest Rate Swap Call Morgan Stanley and Co. International PLC 3.77 SORF Receive Annually 08/07/2023   USD 236,000,000   (2,042,040)  
10 Year Interest Rate Swap Call Morgan Stanley and Co. International PLC 2.56 SOFR Receive Annually 03/10/2025   USD 40,000,000   (602,112)  
20 Year Interest Rate Swap Call Morgan Stanley and Co. International PLC 3.25 SONIA Receive Annually 08/07/2023   GBP 50,000,000   (1)  
10 Year Interest Rate Swap Call Morgan Stanley and Co. International PLC 3.47 SOFR Receive Annually 12/11/2023   USD 40,000,000   (632,346)  
10 Year Interest Rate Swap Call Morgan Stanley and Co. International PLC 3.50 SOFR Receive Annually 01/08/2024   USD 50,000,000   (975,652)  
10 Year Interest Rate Swap Call Morgan Stanley and Co. International PLC 2.35 6 Month EURIBOR Receive Semi-Annually 05/19/2027   EUR 40,000,000   (1,670,408)  
2 Year Interest Rate Swap Call Morgan Stanley and Co. International PLC 4.92 SONIA Receive Monthly 03/28/2024   GBP 250,000,000   (2,430,080)  
Subtotal—Interest Rate Call Swaptions Written               (17,911,858)  
Interest Rate Risk  
2 Year Interest Rate Swap Put Barclays Bank PLC 6.15 SONIA Pay Annually 12/05/2023   GBP 286,000,000   (1,155,116)  
1 Year Interest Rate Swap Put Goldman Sachs International 3.29 SOFR Pay Annually 06/30/2025   USD 100,000,000   (879,815)  
10 Year Interest Rate Swap Put J.P. Morgan Chase Bank, N.A. 2.98 6 Month EURIBOR Pay Semi-Annually 05/22/2025   EUR 102,800,000   (4,562,272)  
5 Year Interest Rate Swap Put J.P. Morgan Chase Bank, N.A. 1.10 TONAR Pay Annually 03/04/2024   JPY 10,400,000,000   (163,483)  
2 Year Interest Rate Swap Put Morgan Stanley and Co. International PLC 6.08 SONIA Pay Monthly 03/28/2024   GBP 250,000,000   (1,589,980)  
10 Year Interest Rate Swap Put Morgan Stanley and Co. International PLC 3.85 6 Month EURIBOR Pay Semi-Annually 05/19/2027   EUR 40,000,000   (1,459,067)  
10 Year Interest Rate Swap Put Morgan Stanley and Co. International PLC 4.51 SONIA Pay Annually 01/31/2024   GBP 85,000,000   (1,730,764)  
10 Year Interest Rate Swap Put Morgan Stanley and Co. International PLC 3.98 SOFR Pay Annually 10/27/2023   USD 60,000,000   (416,658)  
5 Year Interest Rate Swap Put Morgan Stanley and Co. International PLC 4.15 SOFR Pay Annually 10/20/2023   USD 80,000,000   (465,812)  
1 Year Interest Rate Swap Put Morgan Stanley and Co. International PLC 5.16 SOFR Pay Annually 08/21/2023   USD 375,000,000   (768,045)  
10 Year Interest Rate Swap Put Morgan Stanley and Co. International PLC 3.56 SOFR Pay Annually 03/10/2025   USD 40,000,000   (1,438,735)  
See accompanying notes which are an integral part of this consolidated schedule.
Invesco International Bond Fund
Open Over-The-Counter Interest Rate Swaptions Written(a)—(continued)  
Description Type of
Contract 		Counterparty Exercise
Rate 		Floating
Rate Index 		Pay/
Receive
Exercise
Rate 		Payment
Frequency 		Expiration
Date 		  Notional
Value 		    Value  
2 Year Interest Rate Swap Put Morgan Stanley and Co. International PLC 4.00% SOFR Pay Annually 09/16/2024   USD 125,000,000   $(1,116,388)  
5 Year Interest Rate Swap Put Morgan Stanley and Co. International PLC 3.31 SOFR Pay Annually 03/31/2025   USD 93,600,000   (2,555,442)  
Subtotal—Interest Rate Put Swaptions Written               (18,301,577)  
Total Open Over-The-Counter Interest Rate Swaptions Written               $(36,213,435)  
    
(a) Over-The-Counter options purchased, options written and swap agreements are collateralized by cash held with Counterparties in the amount of $46,345,000.
    
Open Futures Contracts(a)
Short Futures Contracts Number of
Contracts 		Expiration
Month 		Notional
Value 		Value Unrealized
Appreciation
Interest Rate Risk
Euro-BTP 203 September-2023 $(25,891,035) $80,352 $80,352
Euro-Bund 122 September-2023 (17,840,493) 118,042 118,042
Total Futures Contracts $198,394 $198,394
    
(a) Futures contracts collateralized by $5,811,398 cash held with Merrill Lynch International, the futures commission merchant.
    
Open Forward Foreign Currency Contracts
Settlement
Date 		Counterparty Contract to Unrealized
Appreciation
(Depreciation)
Deliver Receive
Currency Risk            
09/20/2023 Barclays Bank PLC EUR 11,264,001 USD 12,500,000 $85,727
09/20/2023 Barclays Bank PLC USD 14,206,893 CNY 102,510,973 223,259
09/20/2023 Barclays Bank PLC USD 7,500,000 COP 30,333,375,000 130,131
09/20/2023 Barclays Bank PLC USD 14,208,043 MXN 247,623,750 449,743
09/20/2023 Barclays Bank PLC USD 41,397,000 SGD 55,620,181 527,584
08/02/2023 BNP Paribas S.A. USD 29,493,255 PLN 118,492,100 87,987
09/20/2023 BNP Paribas S.A. INR 775,039,105 USD 9,415,916 5,023
09/20/2023 BNP Paribas S.A. JPY 3,139,795,649 USD 22,817,868 578,956
09/20/2023 BNP Paribas S.A. USD 7,500,000 COP 30,397,488,750 146,259
09/20/2023 BNP Paribas S.A. USD 11,794,664 EUR 10,750,000 53,119
09/20/2023 BNP Paribas S.A. USD 34,766,927 NOK 374,435,799 2,235,334
09/20/2023 BNP Paribas S.A. USD 14,712,016 NZD 24,056,647 230,511
08/02/2023 Citibank, N.A. USD 9,315,057 BRL 44,725,500 143,151
09/20/2023 Citibank, N.A. CLP 5,428,840,000 USD 6,719,693 282,253
09/20/2023 Citibank, N.A. IDR 526,487,400,000 USD 35,176,548 335,240
09/20/2023 Citibank, N.A. USD 3,195,200 COP 12,986,730,640 71,514
09/20/2023 Citibank, N.A. USD 851,242 CZK 18,846,926 14,471
09/20/2023 Citibank, N.A. USD 39,816,046 PLN 164,874,264 1,244,721
09/20/2023 Citibank, N.A. USD 55,132,576 THB 1,889,669,037 325,848
09/20/2023 Citibank, N.A. USD 21,054,938 ZAR 390,867,187 704,218
09/20/2023 Deutsche Bank AG TWD 441,337,131 USD 14,206,893 135,687
08/02/2023 Goldman Sachs International USD 120,148,509 BRL 572,383,244 894,736
08/03/2023 Goldman Sachs International EUR 23,750,000 USD 26,144,000 29,624
08/18/2023 Goldman Sachs International USD 47,235,500 PLN 191,606,082 559,478
08/28/2023 Goldman Sachs International EUR 24,875,000 USD 27,561,500 177,407
09/01/2023 Goldman Sachs International JPY 2,507,596,000 USD 18,200,000 491,962
09/05/2023 Goldman Sachs International USD 47,750,000 MXN 921,575,000 6,959,112
09/12/2023 Goldman Sachs International JPY 2,444,118,000 USD 17,800,000 510,416
09/19/2023 Goldman Sachs International USD 21,828,125 EUR 19,843,750 40,958
See accompanying notes which are an integral part of this consolidated schedule.
Invesco International Bond Fund
Open Forward Foreign Currency Contracts—(continued)
Settlement
Date 		Counterparty Contract to Unrealized
Appreciation
(Depreciation)
Deliver Receive
09/20/2023 Goldman Sachs International INR 3,404,307,133 USD 41,397,000 $60,287
09/20/2023 Goldman Sachs International KRW 17,103,799,650 USD 13,488,801 66,090
09/20/2023 Goldman Sachs International USD 3,400,000 COP 13,742,460,000 56,812
09/20/2023 Goldman Sachs International USD 2,309,231 PEN 8,425,000 20,247
12/21/2023 Goldman Sachs International KRW 9,403,500,000 USD 7,500,000 76,511
01/22/2024 Goldman Sachs International THB 217,425,000 USD 6,500,000 43,200
02/13/2024 Goldman Sachs International JPY 1,042,440,000 USD 8,400,000 838,719
05/09/2024 Goldman Sachs International JPY 2,086,080,000 USD 16,400,000 1,063,223
08/02/2023 HSBC Bank USA USD 132,263,138 BRL 627,615,494 460,203
09/05/2023 HSBC Bank USA USD 56,483,127 BRL 269,814,250 234,498
09/20/2023 HSBC Bank USA TWD 416,128,650 USD 13,391,107 123,626
09/20/2023 HSBC Bank USA USD 25,495,153 MXN 450,295,395 1,159,534
08/02/2023 J.P. Morgan Chase Bank, N.A. EUR 25,700,000 USD 28,285,698 28,538
09/20/2023 J.P. Morgan Chase Bank, N.A. AUD 33,360,000 USD 22,560,831 115,495
09/20/2023 J.P. Morgan Chase Bank, N.A. EUR 46,806,088 USD 52,732,193 1,146,298
09/20/2023 J.P. Morgan Chase Bank, N.A. PLN 113,150,325 USD 28,188,000 8,713
09/20/2023 J.P. Morgan Chase Bank, N.A. USD 41,357,107 CNY 296,219,461 340,788
09/20/2023 J.P. Morgan Chase Bank, N.A. USD 394,699,673 EUR 365,274,748 7,876,687
09/20/2023 J.P. Morgan Chase Bank, N.A. USD 41,023,089 GBP 32,785,193 1,060,534
09/20/2023 J.P. Morgan Chase Bank, N.A. USD 30,409,029 JPY 4,307,986,333 104,081
11/03/2023 J.P. Morgan Chase Bank, N.A. USD 18,500,000 MXN 330,558,000 906,631
08/02/2023 Merrill Lynch International USD 2,189,410 BRL 10,506,750 32,478
08/18/2023 Merrill Lynch International JPY 2,158,363,875 USD 16,050,000 841,115
09/05/2023 Merrill Lynch International JPY 3,364,665,000 USD 24,600,000 824,826
09/05/2023 Merrill Lynch International USD 1,750,000 BRL 8,527,750 42,617
09/06/2023 Merrill Lynch International JPY 1,116,024,000 USD 8,400,000 512,779
09/20/2023 Merrill Lynch International INR 5,890,865,896 USD 71,885,852 356,163
09/20/2023 Merrill Lynch International USD 5,548,614 CAD 7,408,624 73,478
09/20/2023 Merrill Lynch International USD 20,396,897 CNY 145,105,564 29,164
09/20/2023 Merrill Lynch International USD 21,566,940 EUR 19,615,859 52,077
08/08/2023 Morgan Stanley and Co. International PLC USD 13,208,500 COP 53,098,170,000 310,077
09/18/2023 Morgan Stanley and Co. International PLC USD 4,000,000 BRL 19,360,000 61,565
09/20/2023 Morgan Stanley and Co. International PLC USD 3,300,000 COP 13,381,995,000 66,140
09/20/2023 Morgan Stanley and Co. International PLC USD 5,452,847 EUR 5,000,000 57,750
09/20/2023 Morgan Stanley and Co. International PLC USD 2,434,346 MXN 42,325,000 71,031
09/20/2023 Morgan Stanley and Co. International PLC USD 38,626 SEK 416,072 994
09/22/2023 Morgan Stanley and Co. International PLC CNY 111,231,200 USD 16,300,000 640,314
09/29/2023 Morgan Stanley and Co. International PLC USD 1,400,000 COP 6,713,000,000 284,544
10/02/2023 Morgan Stanley and Co. International PLC USD 21,500,000 COP 92,020,000,000 1,572,776
09/20/2023 Royal Bank of Canada AUD 32,625,000 USD 22,224,542 273,729
09/20/2023 Royal Bank of Canada EUR 23,750,000 USD 26,230,355 55,021
09/20/2023 Standard Chartered Bank PLC USD 33,403,819 EUR 30,912,000 664,893
01/29/2024 Standard Chartered Bank PLC INR 1,854,450,000 USD 22,500,000 92,966
02/28/2024 Standard Chartered Bank PLC THB 182,765,000 USD 5,500,000 54,211
Subtotal—Appreciation 40,435,852
Currency Risk            
09/20/2023 Barclays Bank PLC USD 5,854,357 EUR 5,200,000 (123,336)
09/20/2023 BNP Paribas S.A. NOK 374,387,886 USD 34,762,479 (2,235,048)
09/20/2023 BNP Paribas S.A. NZD 1,860,000 USD 1,137,496 (17,823)
09/20/2023 BNP Paribas S.A. PLN 166,223,576 USD 41,152,942 (243,862)
See accompanying notes which are an integral part of this consolidated schedule.
Invesco International Bond Fund
Open Forward Foreign Currency Contracts—(continued)
Settlement
Date 		Counterparty Contract to Unrealized
Appreciation
(Depreciation)
Deliver Receive
09/20/2023 BNP Paribas S.A. USD 175,321,446 JPY 24,124,669,213 $(4,448,413)
08/02/2023 Citibank, N.A. BRL 44,725,500 USD 9,432,774 (25,433)
09/20/2023 Citibank, N.A. PEN 245,660,000 USD 66,846,258 (1,077,748)
09/20/2023 Citibank, N.A. PLN 169,676,555 USD 41,093,163 (1,163,580)
09/20/2023 Citibank, N.A. THB 480,000,000 USD 14,004,376 (82,770)
09/20/2023 Citibank, N.A. USD 14,107,622 CLP 11,397,547,732 (592,574)
09/20/2023 Citibank, N.A. USD 63,053,501 IDR 943,721,746,200 (600,913)
09/20/2023 Citibank, N.A. ZAR 1,472,761,440 USD 79,434,828 (2,552,218)
09/20/2023 Deutsche Bank AG MXN 922,693,750 USD 52,653,038 (1,964,694)
09/20/2023 Deutsche Bank AG USD 32,094,000 EUR 28,885,986 (258,196)
12/13/2023 Deutsche Bank AG EUR 14,500,000 USD 15,747,000 (303,709)
12/13/2023 Deutsche Bank AG USD 19,713,750 EUR 17,500,000 (342,205)
08/02/2023 Goldman Sachs International BRL 572,383,244 USD 119,768,575 (1,274,671)
08/02/2023 Goldman Sachs International PLN 118,492,100 USD 28,300,000 (1,281,242)
08/02/2023 Goldman Sachs International USD 28,449,900 EUR 25,700,000 (192,740)
08/18/2023 Goldman Sachs International EUR 43,000,000 USD 47,235,500 (79,148)
08/21/2023 Goldman Sachs International MXN 478,737,500 USD 25,000,000 (3,495,526)
08/25/2023 Goldman Sachs International CNY 309,000,000 USD 42,901,770 (532,104)
08/25/2023 Goldman Sachs International USD 43,000,000 INR 3,534,600,000 (41,518)
09/06/2023 Goldman Sachs International IDR 443,120,000,000 USD 29,000,000 (335,384)
09/19/2023 Goldman Sachs International HUF 8,400,000,000 USD 21,875,000 (1,725,415)
09/20/2023 Goldman Sachs International INR 2,305,909,962 USD 27,966,000 (33,453)
09/20/2023 Goldman Sachs International USD 73,220,540 KRW 92,843,644,322 (358,754)
09/20/2023 Goldman Sachs International USD 17,981,346 PEN 64,758,000 (76,019)
09/29/2023 Goldman Sachs International SEK 55,197,500 USD 5,000,000 (258,396)
09/29/2023 Goldman Sachs International USD 8,000,000 SEK 82,248,000 (164,635)
10/16/2023 Goldman Sachs International AUD 12,250,000 USD 7,754,250 (494,904)
10/16/2023 Goldman Sachs International NZD 23,333,333 USD 13,055,000 (1,438,268)
11/16/2023 Goldman Sachs International MXN 78,451,000 USD 3,800,000 (794,945)
11/20/2023 Goldman Sachs International BRL 70,808,400 USD 12,240,000 (2,481,103)
12/20/2023 Goldman Sachs International BRL 88,947,000 USD 18,000,000 (427,273)
05/06/2024 Goldman Sachs International MXN 112,299,833 USD 5,833,000 (547,770)
05/16/2024 Goldman Sachs International ZAR 178,165,625 USD 8,875,000 (836,614)
05/17/2024 Goldman Sachs International MXN 90,768,000 USD 4,800,000 (348,639)
05/20/2024 Goldman Sachs International AUD 12,375,000 USD 8,318,475 (64,095)
08/02/2023 HSBC Bank USA BRL 627,615,494 USD 132,288,541 (434,799)
09/05/2023 HSBC Bank USA BRL 357,801,244 USD 74,902,394 (310,968)
09/20/2023 HSBC Bank USA MXN 1,169,332,000 USD 66,206,092 (3,011,090)
09/20/2023 HSBC Bank USA USD 5,658,885 CLP 4,593,600,000 (211,860)
09/20/2023 HSBC Bank USA USD 37,698,104 HUF 13,248,998,487 (481,743)
09/20/2023 HSBC Bank USA ZAR 1,013,243,340 USD 55,265,206 (1,140,962)
09/20/2023 J.P. Morgan Chase Bank, N.A. EUR 273,525,494 USD 295,952,326 (5,505,408)
09/20/2023 J.P. Morgan Chase Bank, N.A. GBP 79,369,000 USD 99,336,928 (2,542,452)
09/20/2023 J.P. Morgan Chase Bank, N.A. HUF 2,108,750,000 USD 5,828,063 (95,404)
09/20/2023 J.P. Morgan Chase Bank, N.A. USD 73,718,968 AUD 109,005,949 (377,387)
09/20/2023 J.P. Morgan Chase Bank, N.A. USD 28,353,129 EUR 25,700,000 (28,662)
10/16/2023 J.P. Morgan Chase Bank, N.A. HUF 3,991,800,000 USD 11,079,999 (77,935)
10/16/2023 J.P. Morgan Chase Bank, N.A. USD 11,080,000 EUR 10,000,000 (44,671)
08/02/2023 Merrill Lynch International BRL 10,506,750 USD 2,215,913 (5,975)
08/25/2023 Merrill Lynch International SGD 72,521,313 USD 53,700,000 (896,662)
See accompanying notes which are an integral part of this consolidated schedule.
Invesco International Bond Fund
Open Forward Foreign Currency Contracts—(continued)
Settlement
Date 		Counterparty Contract to Unrealized
Appreciation
(Depreciation)
Deliver Receive
08/25/2023 Merrill Lynch International USD 53,700,000 INR 4,412,008,110 $(77,760)
09/19/2023 Merrill Lynch International KRW 30,771,375,000 USD 23,250,000 (897,269)
09/20/2023 Merrill Lynch International CAD 4,789,031 USD 3,586,696 (47,497)
09/20/2023 Merrill Lynch International CNY 23,287,510 USD 3,273,430 (4,680)
09/20/2023 Merrill Lynch International SGD 55,599,385 USD 41,576,876 (332,032)
09/20/2023 Merrill Lynch International USD 8,063,615 EUR 7,165,000 (166,930)
09/20/2023 Merrill Lynch International USD 32,128,165 INR 2,632,822,824 (159,181)
09/29/2023 Merrill Lynch International AUD 38,176,682 USD 25,000,000 (693,851)
10/13/2023 Merrill Lynch International BRL 78,497,600 USD 14,200,000 (2,205,120)
09/20/2023 Morgan Stanley and Co. International PLC COP 410,530,202,795 USD 95,739,996 (7,525,775)
09/20/2023 Morgan Stanley and Co. International PLC SEK 24,614,588 USD 2,285,074 (58,818)
09/20/2023 Morgan Stanley and Co. International PLC USD 14,984,160 GBP 11,612,385 (78,308)
09/20/2023 Morgan Stanley and Co. International PLC ZAR 140,775,000 USD 7,802,721 (34,072)
11/27/2023 Morgan Stanley and Co. International PLC COP 207,302,500,000 USD 50,500,000 (811,741)
08/03/2023 Royal Bank of Canada USD 26,169,127 EUR 23,750,000 (54,752)
09/20/2023 Royal Bank of Canada USD 5,654,400 CAD 7,436,639 (11,050)
09/13/2023 Standard Chartered Bank PLC USD 39,216,275 EUR 35,000,000 (655,643)
09/20/2023 Standard Chartered Bank PLC EUR 21,000,000 USD 22,704,318 (440,188)
09/20/2023 Standard Chartered Bank PLC USD 6,760,453 EUR 6,125,000 (9,972)
Subtotal—Depreciation (62,745,755)
Total Forward Foreign Currency Contracts $(22,309,903)
    
Open Centrally Cleared Credit Default Swap Agreements(a)
Reference Entity Buy/Sell
Protection 		(Pay)/
Receive
Fixed
Rate 		Payment
Frequency 		Maturity Date Implied
Credit
Spread(b) 		Notional Value Upfront
Payments Paid
(Received) 		Value Unrealized
Appreciation
(Depreciation)
Credit Risk
Societe Generale Sell 1.00% Quarterly 06/20/2027 0.742% EUR 15,000,000 $12,633 $154,700 $142,067
Intercontinental Exchange, Inc. Sell 1.00 Quarterly 06/20/2028 0.629 USD 17,500,000 159,096 284,997 125,901
Subtotal - Appreciation           171,729 439,697 267,968
Credit Risk
Markit iTraxx Europe Index, Series 37, Version 1 Buy (1.00) Quarterly 06/20/2027 0.546 EUR 10,750,000 (93,237) (194,646) (101,409)
Brazil Government International Bonds Buy (1.00) Quarterly 12/20/2027 1.438 USD 5,000,000 243,649 82,410 (161,239)
Markit CDX North America High Yield Index, Series 40, Version 1 Buy (5.00) Quarterly 06/20/2028 4.086 USD 47,000,000 (650,134) (1,690,826) (1,040,692)
Intercontinental Exchange, Inc. Buy (1.00) Quarterly 06/20/2028 0.722 USD 17,500,000 (159,096) (213,041) (53,945)
Subtotal - Depreciation           (658,818) (2,016,103) (1,357,285)
Total Centrally Cleared Credit Default Swap Agreements       $(487,089) $(1,576,406) $(1,089,317)
    
(a) Centrally cleared swap agreements collateralized by $86,815,427 cash held with Counterparties.
(b) Implied credit spreads represent the current level, as of July 31, 2023, 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.
    
See accompanying notes which are an integral part of this consolidated schedule.
Invesco International Bond Fund
Open Centrally Cleared Interest Rate Swap Agreements(a)
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
(Depreciation)
Interest Rate Risk
Pay TTHORON Quarterly 2.71% Quarterly 05/29/2033 THB 392,500,000 $— $8,898 $8,898
Receive 6 Month ADBB Semi-Annually (4.41) Semi-Annually 06/22/2033 AUD 31,400,000 — 25,638 25,638
Receive 3 Month CZK PRIBOR Quarterly (7.02) Annually 02/10/2024 CZK 1,040,000,000 — 44,197 44,197
Pay 3 Month ADBB Quarterly 4.21 Quarterly 06/22/2026 AUD 94,500,000 — 73,332 73,332
Pay 6 Month EURIBOR Semi-Annually 3.08 Annually 03/16/2033 EUR 83,000,000 — 168,500 168,500
Receive TTHORON Quarterly (2.35) Quarterly 05/29/2028 THB 1,475,000,000 — 169,570 169,570
Receive SIBCSORA Semi-Annually (2.59) Semi-Annually 07/26/2043 SGD 42,000,000 — 265,991 265,991
Receive SOFR Annually (3.24) Annually 07/25/2033 USD 65,500,000 — 283,077 283,077
Receive CPURNSA At Maturity (2.48) At Maturity 05/11/2028 USD 53,450,000 — 299,784 299,784
Receive CPTFEMU At Maturity (2.47) At Maturity 06/15/2028 EUR 40,000,000 — 300,027 300,027
Pay 28 Day MXN TIIE 28 Days 9.13 28 Days 02/11/2028 MXN 233,000,000 — 302,356 302,356
Receive TTHORON Quarterly (2.26) Quarterly 04/24/2028 THB 1,450,000,000 — 361,571 361,571
Receive CPURNSA At Maturity (2.53) At Maturity 06/07/2033 USD 46,800,000 — 434,604 434,604
Receive SOFR Annually (3.26) Annually 05/25/2053 USD 21,320,000 — 459,170 459,170
Receive 3 Month JIBAR Quarterly (7.42) Quarterly 05/05/2027 ZAR 370,000,000 — 545,231 545,231
Receive SOFR Annually (3.59) Annually 06/01/2028 USD 33,000,000 — 598,370 598,370
Pay BZDIOVRA At Maturity 11.30 At Maturity 01/02/2026 BRL 259,730,842 — 640,895 640,895
Pay CLICP Semi-Annually 7.87 Semi-Annually 04/11/2025 CLP 21,000,000,000 — 735,480 735,480
Receive 3 Month JIBAR Quarterly (6.61) Quarterly 10/19/2026 ZAR 336,700,000 1,282 841,879 840,597
Receive FBIL Overnight MIBOR Semi-Annually (5.65) Semi-Annually 02/17/2027 INR 2,625,000,000 — 863,246 863,246
Receive SOFR Annually (3.53) Annually 09/27/2032 USD 62,000,000 — 873,295 873,295
Receive 3 Month JIBAR Quarterly (6.65) Quarterly 10/11/2026 ZAR 350,000,000 — 880,913 880,913
Pay SOFR Annually 3.77 Annually 08/09/2033 USD 135,300,000 (30,780) 885,207 915,987
Pay BZDIOVRA At Maturity 10.94 At Maturity 01/04/2027 BRL 199,399,129 — 1,018,110 1,018,110
Pay BZDIOVRA At Maturity 11.72 At Maturity 01/02/2026 BRL 248,590,247 — 1,298,036 1,298,036
Receive SOFR Annually (3.50) Annually 05/30/2033 USD 99,500,000 106,404 1,627,094 1,520,690
Receive CPURNSA At Maturity (2.41) At Maturity 05/12/2028 USD 170,500,000 — 1,532,672 1,532,672
Receive 3 Month COOVIBR Quarterly (4.20) Quarterly 02/08/2031 COP 43,000,000,000 — 2,318,793 2,318,793
Pay BZDIOVRA At Maturity 12.58 At Maturity 01/04/2027 BRL 147,410,436 — 2,569,449 2,569,449
Subtotal — Appreciation       76,906 20,425,385 20,348,479
Interest Rate Risk
Pay SOFR Annually 3.18 Annually 05/12/2028 USD 174,500,000 — (6,281,543) (6,281,543)
Pay SONIA Annually 4.24 Annually 05/30/2025 GBP 168,800,000 — (5,217,558) (5,217,558)
Pay 6 Month EURIBOR Semi-Annually 2.55 Annually 04/24/2034 EUR 54,000,000 — (2,212,321) (2,212,321)
Pay 6 Month EURIBOR Semi-Annually 3.05 Annually 05/20/2025 EUR 386,640,000 — (2,009,261) (2,009,261)
Pay SOFR Annually 2.94 Annually 04/24/2034 USD 37,500,000 — (1,771,465) (1,771,465)
Pay SOFR Annually 3.30 Annually 05/11/2028 USD 54,750,000 — (1,681,684) (1,681,684)
Pay SOFR Annually 3.53 Annually 05/25/2028 USD 66,680,000 — (1,377,415) (1,377,415)
Receive 3 Month COOVIBR Quarterly (9.86) Quarterly 09/09/2032 COP 36,000,000,000 — (1,181,026) (1,181,026)
Receive 3 Month COOVIBR Quarterly (9.91) Quarterly 01/17/2028 COP 60,845,000,000 — (1,114,222) (1,114,222)
See accompanying notes which are an integral part of this consolidated schedule.
Invesco International Bond Fund
Open Centrally Cleared Interest Rate Swap Agreements(a)—(continued)
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
(Depreciation)
Receive CLICP Semi-Annually (6.30)% Semi-Annually 03/09/2028 CLP 18,750,000,000 $— $(1,108,881) $(1,108,881)
Pay SOFR Annually 3.37 Annually 12/15/2032 USD 28,400,000 — (751,614) (751,614)
Receive 3 Month COOVIBR Quarterly (9.01) Quarterly 05/24/2032 COP 36,300,000,000 — (665,395) (665,395)
Receive 3 Month COOVIBR Quarterly (9.85) Quarterly 07/21/2032 COP 17,843,000,000 — (595,595) (595,595)
Receive 3 Month COOVIBR Quarterly (9.71) Quarterly 07/21/2032 COP 16,883,000,000 — (526,453) (526,453)
Receive 3 Month COOVIBR Quarterly (11.46) Quarterly 11/01/2024 COP 137,500,000,000 — (479,467) (479,467)
Pay CORRA Semi-Annually 3.53 Semi-Annually 07/14/2033 CAD 40,000,000 64,027 (401,712) (465,739)
Pay CPTFEMU At Maturity 2.49 At Maturity 06/15/2033 EUR 40,000,000 — (461,749) (461,749)
Pay CORRA Semi-Annually 3.55 Semi-Annually 07/17/2033 CAD 40,000,000 61,303 (356,814) (418,117)
Pay 3 Month NDBB Quarterly 4.35 Semi-Annually 05/19/2028 NZD 36,000,000 — (416,086) (416,086)
Pay 3 Month NDBB Quarterly 4.37 Semi-Annually 03/23/2028 NZD 36,000,000 — (403,099) (403,099)
Receive FBIL Overnight MIBOR Semi-Annually (7.02) Semi-Annually 05/25/2027 INR 1,875,000,000 — (395,668) (395,668)
Pay TTHORON Quarterly 2.00 Quarterly 04/24/2025 THB 1,755,000,000 — (286,816) (286,816)
Receive 3 Month JIBAR Quarterly (9.87) Quarterly 06/15/2033 ZAR 141,000,000 — (282,356) (282,356)
Pay CPURNSA At Maturity 2.50 At Maturity 06/07/2028 USD 46,800,000 — (257,864) (257,864)
Pay TTHORON Quarterly 2.11 Quarterly 05/29/2025 THB 1,775,000,000 — (195,880) (195,880)
Receive 3 Month COOVIBR Quarterly (8.54) Quarterly 05/27/2032 COP 13,500,000,000 — (148,599) (148,599)
Pay 28 Day MXN TIIE 28 Days 9.25 28 Days 02/10/2025 MXN 1,075,000,000 — (141,347) (141,347)
Pay 6 Month ADBB Semi-Annually 4.59 Semi-Annually 07/24/2033 AUD 100,500,000 — (129,683) (129,683)
Pay TTHORON Quarterly 2.60 Quarterly 04/24/2033 THB 384,000,000 — (109,395) (109,395)
Receive FBIL Overnight MIBOR Semi-Annually (6.62) Semi-Annually 05/02/2027 INR 1,800,000,000 — (70,465) (70,465)
Receive 6 Month WIBOR Semi-Annually (4.81) Annually 07/14/2028 PLN 30,000,000 — (60,748) (60,748)
Pay 28 Day MXN TIIE 28 Days 9.40 28 Days 02/10/2025 MXN 1,125,000,000 — (57,771) (57,771)
Subtotal — Depreciation       125,330 (31,149,952) (31,275,282)
Total Centrally Cleared Interest Rate Swap Agreements       $202,236 $(10,724,567) $(10,926,803)
    
(a) Centrally cleared swap agreements collateralized by $86,815,427 cash held with Counterparties.
    
Open Over-The-Counter Credit Default Swap Agreements(a)
Counterparty Reference Entity Buy/Sell
Protection 		(Pay)/
Receive
Fixed Rate 		Payment
Frequency 		Maturity
Date 		Implied
Credit
Spread(b) 		Notional
Value 		Upfront
Payments Paid
(Received) 		Value Unrealized
Appreciation
(Depreciation)
Credit Risk
Citibank, N.A. Assicurazioni Generali S.p.A. Sell 1.00% Quarterly 12/20/2024 0.433% EUR 5,000,000 $27,304 $42,492 $15,188
Goldman Sachs International Markit iTraxx Europe Crossover Index, Series 32, Version 5 Sell 5.00 Quarterly 12/20/2024 1.807 EUR 10,000,000 382,526 473,823 91,297
Subtotal—Appreciation         409,830 516,315 106,485
See accompanying notes which are an integral part of this consolidated schedule.
Invesco International Bond Fund
Open Over-The-Counter Credit Default Swap Agreements(a)—(continued)
Counterparty Reference Entity Buy/Sell
Protection 		(Pay)/
Receive
Fixed Rate 		Payment
Frequency 		Maturity
Date 		Implied
Credit
Spread(b) 		Notional
Value 		Upfront
Payments Paid
(Received) 		Value Unrealized
Appreciation
(Depreciation)
Credit Risk
Citibank, N.A. Assicurazioni Generali S.p.A. Buy (1.00)% Quarterly 12/20/2024 0.683% EUR 5,000,000 $17,736 $(23,719) $(41,455)
Goldman Sachs International Markit CDX North America High Yield Index, Series 37, Version 1 Buy (5.00) Quarterly 12/20/2026 0.278 USD 25,000,000 (3,440,811) (3,610,646) (169,835)
J.P. Morgan Chase Bank, N.A. Generic Subordinated Bond Buy (1.00) Quarterly 06/20/2027 1.100 EUR 7,500,000 204,936 29,752 (175,184)
J.P. Morgan Chase Bank, N.A. Markit CDX North America High Yield Index, Series 39, Version 2 Buy (5.00) Quarterly 12/20/2027 0.555 USD 20,000,000 (3,231,242) (3,386,370) (155,128)
Subtotal—Depreciation         (6,449,381) (6,990,983) (541,602)
Total Open Over-The-Counter Credit Default Swap Agreements         $(6,039,551) $(6,474,668) $(435,117)
    
(a) Over-The-Counter options purchased, options written and swap agreements are collateralized by cash held with Counterparties in the amount of $46,345,000.
(b) Implied credit spreads represent the current level, as of July 31, 2023, 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.
    
See accompanying notes which are an integral part of this consolidated schedule.
Invesco International Bond Fund
Abbreviations:
ADBB —Australian Dollar Bank Bill
AUD —Australian Dollar
BRL —Brazilian Real
BZDIOVRA —Brazil Ceptip DI Interbank Deposit Rate
CAD —Canadian Dollar
CLICP —Sinacofi Chile Interbank Rate Avg (CAMARA)
CLP —Chile Peso
CNH —Chinese Renminbi
CNY —Chinese Yuan Renminbi
COOVIBR —Colombia IBR Overnight Nominal Interbank Reference Rate
COP —Colombia Peso
CORRA —Canadian Overnight Repo Rate Average
CZK —Czech Koruna
EUR —Euro
EURIBOR —Euro Interbank Offered Rate
FBIL —Financial Benchmarks India Private Ltd.
GBP —British Pound Sterling
HUF —Hungarian Forint
IDR —Indonesian Rupiah
INR —Indian Rupee
JIBAR —Johannesburg Interbank Average Rate
JPY —Japanese Yen
KRW —South Korean Won
MIBOR —Mumbai Interbank Offered Rate
MXN —Mexican Peso
NDBB —New Zealand Dollar Bank Bill
NOK —Norwegian Krone
NZD —New Zealand Dollar
PEN —Peruvian Sol
PLN —Polish Zloty
PRIBOR —Prague Interbank Offerred Rate
SEK —Swedish Krona
SGD —Singapore Dollar
SIBCSORA —Singapore Overnight Rate Average
SOFR —Secured Overnight Financing Rate
SONIA —Sterling Overnight Index Average
THB —Thai Baht
TIIE —Interbank Equilibrium Interest Rate
TONAR —Tokyo Overnight Average Rate
TTHORON —Thai Overnight Repurchase Rate
TWD —New Taiwan Dollar
USD —U.S. Dollar
WIBOR —Warsaw Interbank Offered Rate
ZAR —South African Rand
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 consolidated schedule.
Invesco International Bond Fund
Notes to Quarterly Consolidated Schedule of Portfolio Holdings
July 31, 2023
(Unaudited)
NOTE 1—Additional Valuation Information
Generally Accepted Accounting Principles ("GAAP") defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment’s assigned level:
Level 1 – Prices are determined using quoted prices in an active market for identical assets.
Level 2 – Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.
Level 3 – Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect Invesco Advisers, Inc.’s assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.
The following is a summary of the tiered valuation input levels, as of July 31, 2023. 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 consolidated 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        
Non-U.S. Dollar Denominated Bonds & Notes $— $836,169,681 $— $836,169,681
U.S. Dollar Denominated Bonds & Notes — 160,993,791 — 160,993,791
Asset-Backed Securities — 98,516,042 13,830,809 112,346,851
U.S. Treasury Securities — 48,760,712 — 48,760,712
Common Stocks & Other Equity Interests 38,185,002 — — 38,185,002
Money Market Funds 15,319,189 14,115,479 — 29,434,668
Options Purchased — 52,246,668 — 52,246,668
Total Investments in Securities 53,504,191 1,210,802,373 13,830,809 1,278,137,373
Other Investments - Assets*        
Futures Contracts 198,394 — — 198,394
Forward Foreign Currency Contracts — 40,435,852 — 40,435,852
Swap Agreements — 20,722,932 — 20,722,932
  198,394 61,158,784 — 61,357,178
Other Investments - Liabilities*        
Forward Foreign Currency Contracts — (62,745,755) — (62,745,755)
Options Written — (53,295,341) — (53,295,341)
Swap Agreements — (33,174,169) — (33,174,169)
  — (149,215,265) — (149,215,265)
Total Other Investments 198,394 (88,056,481) — (87,858,087)
Total Investments $53,702,585 $1,122,745,892 $13,830,809 $1,190,279,286
    
* Forward foreign currency contracts, futures contracts and swap agreements are valued at unrealized appreciation (depreciation). Options written are shown at value.
A reconciliation of Level 3 investments is presented when the Fund had a significant amount of Level 3 investments at the beginning and/or end of the reporting period in relation to net assets.
The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) during the period ended July 31, 2023:
  Value
10/31/22 		Purchases
at Cost 		Proceeds
from Sales 		Accrued
Discounts/
Premiums 		Realized
Gain
(Loss) 		Change in
Unrealized
Appreciation 		Transfers
into
Level 3 		Transfers
out of
Level 3 		Value
07/31/23
Asset-Backed Securities $7,136,135 $12,103,123 $(4,080,781,000) $1,983 $(2,685,437) $1,355,786 $— $— $13,830,809
Securities determined to be Level 3 at the end of the reporting period were valued primarily by utilizing evaluated prices from a third-party vendor pricing service. A significant change in third-party pricing information could result in a lower or higher value in Level 3 investments.
Invesco International Bond Fund