NPORT-EX 2 edgar.htm
Schedule of Investments  
March 31, 2024
(Unaudited)
  Shares Value
Money Market Funds–2.31%
Invesco Government & Agency Portfolio, Institutional Class, 5.24%(a)(b) 231,555    $231,555
Invesco Liquid Assets Portfolio, Institutional Class, 5.35%(a)(b) 165,417    165,483
Invesco Treasury Portfolio, Institutional Class, 5.21%(a)(b) 264,634    264,634
Total Money Market Funds (Cost $661,633) 661,672
  Shares Value
Options Purchased–105.11%
(Cost $27,184,582)(c) $30,090,041
TOTAL INVESTMENTS IN SECURITIES–107.42% (Cost $27,846,215) 30,751,713
OTHER ASSETS LESS LIABILITIES—(7.42)% (2,125,164)
NET ASSETS–100.00% $28,626,549
 
Notes to Schedule of Investments:
(a) Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended March 31, 2024.
    
  Value
December 31, 2023 		Purchases
at Cost 		Proceeds
from Sales 		Change in
Unrealized
Appreciation
(Depreciation) 		Realized
Gain 		Value
March 31, 2024 		Dividend Income
Investments in Affiliated Money Market Funds:              
Invesco Government & Agency Portfolio, Institutional Class $424,515 $305,003 $(497,963) $- $- $231,555 $4,319
Invesco Liquid Assets Portfolio, Institutional Class 303,380 217,859 (355,688) (90) 22 165,483 3,182
Invesco Treasury Portfolio, Institutional Class 485,160 348,575 (569,101) - - 264,634 4,925
Total $1,213,055 $871,437 $(1,422,752) $(90) $22 $661,672 $12,426
    
(b) The rate shown is the 7-day SEC standardized yield as of March 31, 2024.
(c) The table below details options purchased.
    
Open Index Options Purchased
Description Type of
Contract 		Expiration
Date 		Number of
Contracts 		Exercise
Price 		Notional
Value(a) 		Value
Equity Risk          
S&P 500® Index Call 06/28/2024 588 USD 13.35 USD 784,980 $ 30,022,906
Equity Risk          
S&P 500® Index Put 06/28/2024 588 USD 445.04 USD 26,168,352 67,135
Total Open Index Options Purchased         $30,090,041
    
(a) Notional Value is calculated by multiplying the Number of Contracts by the Exercise Price by the multiplier.
    
Open Index Options Written
Description Type of
Contract 		Expiration
Date 		Number of
Contracts 		Exercise
Price 		Notional
Value(a) 		Value
Equity Risk
S&P 500® Index Call 06/28/2024 588 USD 503.34 USD 29,596,392 $ (1,900,154)
Equity Risk
S&P 500® Index Put 06/28/2024 588 USD 400.54 USD 23,551,752 (31,881)
Total Open Index Options Written       $(1,932,035)
    
(a) Notional Value is calculated by multiplying the Number of Contracts by the Exercise Price by the multiplier.
    
Abbreviations:
USD —U.S. Dollar
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.
Invesco® V.I. S&P 500 Buffer Fund – June
Notes to Quarterly Schedule of Portfolio Holdings
March 31, 2024
(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 March 31, 2024. 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        
Money Market Funds $661,672 $— $— $661,672
Options Purchased — 30,090,041 — 30,090,041
Total Investments in Securities 661,672 30,090,041 — 30,751,713
Other Investments - Liabilities*        
Options Written — (1,932,035) — (1,932,035)
Total Investments $661,672 $28,158,006 $— $28,819,678
    
* Options written are shown at value.
Invesco® V.I. S&P 500 Buffer Fund – June