Schedule of Investments  
March 31, 2026
(Unaudited) 
Invesco Select Risk: Moderate Investor Fund
Schedule of Investments in Affiliated Issuers–100.03%(a)
 
% of
Net
Assets
03/31/26
Value
12/31/25
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain (Loss)
Dividend
Income
Shares
03/31/26
Value
03/31/26
Alternative Funds–5.48%
Invesco Dynamic Credit Opportunity Fund,
Class R6
0.24
%
$4,412,718
$111,758
$—
$(145,407
)
$—
$111,791
436,597
$4,379,069
Invesco Global Real Estate Income Fund,
Class R6
—
46,812,188
—
(50,860,703
)
(1,032,236
)
5,080,751
—
—
—
Invesco Managed Futures Strategy ETF
5.24
%
80,183,629
5,665,458
—
8,570,933
—
—
1,860,526
94,420,020
Total Alternative Funds
131,408,535
5,777,216
(50,860,703
)
7,393,290
5,080,751
111,791
98,799,089
Domestic Equity Funds–32.50%
Invesco Discovery Mid Cap Growth Fund,
Class R6
1.16
%
89,271,494
—
(76,227,636
)
(14,255,521
)
22,105,121
—
585,251
20,893,458
Invesco Main Street Small Cap Fund, Class R6
2.97
%
89,975,289
—
(38,489,196
)
(10,416,190
)
12,480,001
—
2,397,041
53,549,904
Invesco NASDAQ 100 ETF
6.71
%
176,543,471
—
(46,559,603
)
(20,952,839
)
11,848,166
166,699
508,708
120,879,195
Invesco Russell 1000® Dynamic Multifactor
ETF
9.08
%
202,422,031
—
(36,464,255
)
(9,679,227
)
7,460,375
401,869
2,723,535
163,738,924
Invesco S&P 500 Revenue ETF(b)
11.46
%
158,910,199
51,604,242
(2,542,912
)
(1,847,188
)
360,196
766,101
1,796,924
206,484,537
Invesco Value Opportunities Fund, Class R6
1.12
%
74,346,084
—
(61,217,731
)
(10,596,689
)
17,725,230
—
796,888
20,256,894
Total Domestic Equity Funds
791,468,568
51,604,242
(261,501,333
)
(67,747,654
)
71,979,089
1,334,669
585,802,912
Fixed Income Funds–34.03%
Invesco Core Bond Fund, Class R6
9.09
%
284,326,371
2,488,597
(121,776,562
)
(4,171,004
)
2,951,032
2,488,593
29,045,822
163,818,434
Invesco Core Plus Bond Fund, Class R6
4.83
%
149,952,696
1,394,107
(63,667,806
)
11,005,179
(11,619,496
)
1,394,106
9,443,024
87,064,680
Invesco Emerging Markets Sovereign Debt ETF
1.68
%
11,154,120
20,590,814
—
(1,491,787
)
—
353,637
1,447,519
30,253,147
Invesco Equal Weight 0-30 Year Treasury ETF
6.96
%
22,305,665
108,746,349
(2,454,689
)
(2,748,884
)
(425,055
)
772,173
4,597,682
125,423,386
Invesco Floating Rate ESG Fund, Class R6
2.10
%
29,574,841
9,089,693
—
(770,800
)
—
638,907
6,014,878
37,893,734
Invesco High Yield Fund, Class R6
2.94
%
44,625,992
9,598,258
—
(1,182,094
)
—
823,932
15,198,325
53,042,156
Invesco Short Term Treasury ETF
3.99
%
—
75,346,600
(3,191,451
)
(163,679
)
(6,898
)
436,857
681,995
71,984,572
Invesco Variable Rate Investment Grade ETF
2.44
%
46,558,794
—
(2,559,923
)
(147,140
)
29,742
531,955
1,752,805
43,881,473
Total Fixed Income Funds
588,498,479
227,254,418
(193,650,431
)
329,791
(9,070,675
)
7,440,160
613,361,582
International and Global Equity Funds–27.59%
Invesco Developing Markets Fund, Class R6
3.61
%
34,736,694
35,947,082
(4,681,146
)
299,932
(1,182,216
)
—
1,859,519
65,120,346
Invesco Global Fund, Class R6
8.62
%
113,600,782
59,132,914
(3,206,853
)
(14,023,909
)
(120,636
)
—
1,914,990
155,382,298
Invesco International Developed Dynamic
Multifactor ETF(b)
5.27
%
44,376,882
54,696,017
(3,910,320
)
(736,905
)
641,737
871,202
3,004,659
95,067,411
Invesco International Growth Fund, Class R6
0.00
%
20,706,324
—
(20,845,658
)
5,321,392
(5,182,039
)
—
1
19
Invesco International Small-Mid Company
Fund, Class R6
5.22
%
59,440,691
39,612,968
—
(4,944,039
)
—
—
2,782,662
94,109,620
Invesco RAFI Developed Markets ex-U.S. ETF(b)
4.87
%
53,931,804
36,901,485
(4,859,278
)
232,053
1,508,930
614,042
1,254,864
87,714,994
Total International and Global Equity Funds
326,793,177
226,290,466
(37,503,255
)
(13,851,476
)
(4,334,224
)
1,485,244
497,394,688
Money Market Funds–0.43%
Invesco Government & Agency Portfolio,
Institutional Class, 3.58%(c)
0.16
%
3,764,196
13,076,187
(14,057,022
)
—
—
19,387
2,783,361
2,783,361
Invesco Treasury Portfolio, Institutional Class,
3.56%(c)
0.27
%
6,756,927
24,284,347
(26,105,898
)
—
—
33,650
4,935,376
4,935,376
Total Money Market Funds
10,521,123
37,360,534
(40,162,920
)
—
—
53,037
7,718,737
TOTAL INVESTMENTS IN AFFILIATED ISSUERS
(excluding investments purchased with
cash collateral from securities on loan)
(Cost $1,598,949,524)
100.03
%
1,848,689,882
548,286,876
(583,678,642
)
(73,876,049
)
63,654,941
10,424,901
1,803,077,008
 
Investments Purchased with
Cash Collateral from
Securities on Loan
 
 
 
 
 
 
 
 
 
Money Market Funds–0.16%
Invesco Private Government Fund, 3.63%(c)(d)
0.05
%
3,168,981
63,757,912
(66,147,841
)
—
—
31,053
(e)
779,052
779,052
Invesco Private Prime Fund, 3.80%(c)(d)
0.11
%
8,896,890
158,510,724
(165,364,691
)
—
(5,631
)
86,278
(e)
2,037,089
2,037,292
Total Investments Purchased with Cash
Collateral from Securities on Loan
(Cost $2,816,344)
0.16
%
12,065,871
222,268,636
(231,512,532
)
—
(5,631
)
117,331
2,816,344
TOTAL INVESTMENTS IN AFFILIATED ISSUERS
(Cost $1,601,765,868) 
100.19
%
$1,860,755,753
$770,555,512
$(815,191,174
)
$(73,876,049
)
$63,649,310
$10,542,232
$1,805,893,352
OTHER ASSETS LESS LIABILITIES
(0.19
)%
(3,355,822
)
NET ASSETS
100.00
%
$1,802,537,530
See accompanying notes which are an integral part of this schedule.
Invesco Select Risk: Moderate Investor Fund
Investment Abbreviations: 
ETF -
Exchange-Traded Fund
Notes to Schedule of Investments: 
(a)
Each underlying fund and the Fund are affiliated by either having the same investment adviser or an investment adviser under common control with the Fund’s
investment adviser.
(b)
All or a portion of this security was out on loan at March 31, 2026.
(c)
The rate shown is the 7-day SEC standardized yield as of March 31, 2026.
(d)
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.
(e)
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.
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 Select Risk: Moderate Investor Fund
Notes to Quarterly Schedule of Portfolio Holdings
March 31, 2026
(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. When market movements occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.
Level 3 – Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect 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, 2026. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments. 
 
Level 1
Level 2
Level 3
Total
Investments in Securities
Affiliated Issuers
$1,795,358,271
$—
$—
$1,795,358,271
Money Market Funds
7,718,737
2,816,344
—
10,535,081
Total Investments
$1,803,077,008
$2,816,344
$—
$1,805,893,352
Invesco Select Risk: Moderate Investor Fund