Consolidated Schedule of Investments(a)  
July 31, 2026
(Unaudited)
 
 
Shares
Value
Exchange-Traded Funds–46.61%
Invesco Managed Futures Strategy ETF
(Cost $107,108,382)(b)
2,193,500
$113,977,331
Common Stocks & Other Equity Interests–34.89%
Aerospace & Defense–0.31%
Lockheed Martin Corp.
342
199,297
Northrop Grumman Corp.
202
109,581
RTX Corp.
2,036
438,188
 
 
747,066
Agricultural & Farm Machinery–0.05%
Deere & Co.
184
109,051
Agricultural Products & Services–0.24%
Archer-Daniels-Midland Co.
7,416
587,866
Air Freight & Logistics–0.58%
C.H. Robinson Worldwide, Inc.
2,349
347,017
Expeditors International of
Washington, Inc.
3,210
538,927
FedEx Corp.
1,712
526,269
 
 
1,412,213
Apparel Retail–0.42%
Ross Stores, Inc.
1,618
406,231
TJX Cos., Inc. (The)
4,009
630,776
 
 
1,037,007
Apparel, Accessories & Luxury Goods–0.18%
Ralph Lauren Corp.
156
59,333
Tapestry, Inc.
2,427
369,802
 
 
429,135
Application Software–1.26%
Adobe, Inc.(c)
2,948
738,209
AppLovin Corp., Class A(c)
390
154,401
Autodesk, Inc.(c)
2,409
564,188
Intuit, Inc.
1,268
400,777
Palantir Technologies, Inc., Class A(c)
681
83,804
Salesforce, Inc.
3,601
662,656
Synopsys, Inc.(c)
191
74,253
Workday, Inc., Class A(c)
796
127,630
Zoom Communications, Inc., Class A(c)
2,901
278,699
 
 
3,084,617
Asset Management & Custody Banks–0.67%
Bank of New York Mellon Corp. (The)
4,459
697,075
Northern Trust Corp.
1,650
300,614
State Street Corp.
3,485
641,798
 
 
1,639,487
Automobile Manufacturers–0.36%
General Motors Co.
3,706
329,315
Tesla, Inc.(c)
1,757
546,796
 
 
876,111
Biotechnology–1.31%
AbbVie, Inc.
2,360
592,218
 
Shares
Value
Biotechnology–(continued)
Amgen, Inc.
1,494
$575,429
Biogen, Inc.(c)
1,525
309,499
Exelixis, Inc.(c)
3,635
192,764
Gilead Sciences, Inc.
3,172
413,026
Incyte Corp.(c)
5,650
675,288
Neurocrine Biosciences, Inc.(c)
1,947
324,760
Regeneron Pharmaceuticals, Inc.
155
118,208
 
 
3,201,192
Broadline Retail–0.80%
Amazon.com, Inc.(c)
6,568
1,783,738
eBay, Inc.
1,442
164,402
 
 
1,948,140
Building Products–0.04%
Johnson Controls International PLC
718
105,302
Casinos & Gaming–0.16%
Las Vegas Sands Corp.
7,813
381,978
Commodity Chemicals–0.05%
LyondellBasell Industries N.V., Class A
2,113
131,175
Communications Equipment–0.65%
Arista Networks, Inc.(c)
811
146,264
Ciena Corp.(c)
277
104,443
Cisco Systems, Inc.
7,976
925,136
F5, Inc.(c)
301
121,173
Motorola Solutions, Inc.
693
301,975
 
 
1,598,991
Computer & Electronics Retail–0.05%
Best Buy Co., Inc.
1,420
122,489
Construction & Engineering–0.15%
API Group Corp.(c)
3,582
142,134
Comfort Systems USA, Inc.
128
221,400
 
 
363,534
Construction Machinery & Heavy Transportation Equipment–
0.26%
Caterpillar, Inc.
559
455,479
Westinghouse Air Brake Technologies Corp.
642
186,732
 
 
642,211
Consumer Finance–0.25%
Capital One Financial Corp.
835
174,523
Synchrony Financial
5,836
442,311
 
 
616,834
Consumer Staples Merchandise Retail–0.76%
Costco Wholesale Corp.
444
422,639
Dollar General Corp.
3,225
409,736
Dollar Tree, Inc.(c)
2,976
378,577
Target Corp.
1,407
203,297
Walmart, Inc.
3,938
437,906
 
 
1,852,155
See accompanying notes which are an integral part of this consolidated schedule.
Invesco Multi-Strategy Fund

 
Shares
Value
Data Processing & Outsourced Services–0.30%
Broadridge Financial Solutions, Inc.
1,910
$294,045
SS&C Technologies Holdings, Inc.
5,630
433,791
 
 
727,836
Diversified Banks–0.64%
Bank of America Corp.
5,932
367,487
Citigroup, Inc.
5,665
750,329
U.S. Bancorp
7,059
444,788
 
 
1,562,604
Electric Utilities–1.66%
American Electric Power Co., Inc.
9,950
1,272,107
Duke Energy Corp.
8,205
1,029,153
Edison International
9,518
698,336
Entergy Corp.
1,191
128,175
Evergy, Inc.
2,666
221,305
Eversource Energy
2,569
183,915
Exelon Corp.
8,464
387,820
NextEra Energy, Inc.
1,590
138,203
 
 
4,059,014
Electrical Components & Equipment–0.23%
AMETEK, Inc.
1,716
414,774
Rockwell Automation, Inc.
294
141,144
 
 
555,918
Electronic Components–0.25%
Amphenol Corp., Class A
2,340
376,038
Corning, Inc.
1,672
231,154
 
 
607,192
Electronic Equipment & Instruments–0.15%
Keysight Technologies, Inc.(c)
1,150
366,942
Electronic Manufacturing Services–0.06%
TE Connectivity PLC (China)
715
147,068
Environmental & Facilities Services–0.09%
Clean Harbors, Inc.(c)
390
122,023
Waste Management, Inc.
470
106,479
 
 
228,502
Fertilizers & Agricultural Chemicals–0.29%
CF Industries Holdings, Inc.
4,139
518,162
Corteva, Inc.
2,461
193,705
 
 
711,867
Financial Exchanges & Data–0.12%
Cboe Global Markets, Inc.
469
145,498
CME Group, Inc., Class A
577
154,515
 
 
300,013
Food Retail–0.16%
Casey’s General Stores, Inc.
131
114,101
Kroger Co. (The)
4,961
286,448
 
 
400,549
Health Care Distributors–0.67%
Cardinal Health, Inc.
3,671
844,440
Cencora, Inc.
496
154,425
McKesson Corp.
758
648,992
 
 
1,647,857
 
Shares
Value
Health Care Equipment–0.28%
Becton, Dickinson and Co.
1,185
$196,260
IDEXX Laboratories, Inc.(c)
285
159,335
STERIS PLC
1,416
323,414
 
 
679,009
Health Care Facilities–0.43%
Encompass Health Corp.
800
88,856
HCA Healthcare, Inc.
865
348,241
Tenet Healthcare Corp.(c)
1,423
362,552
Universal Health Services, Inc., Class B
1,487
250,470
 
 
1,050,119
Health Care Services–0.35%
Cigna Group (The)
399
111,341
CVS Health Corp.
2,412
251,885
DaVita, Inc.(c)
850
204,076
Labcorp Holdings, Inc.
334
103,273
Quest Diagnostics, Inc.
766
178,486
 
 
849,061
Heavy Electrical Equipment–0.04%
GE Vernova, Inc.
103
102,000
Hotel & Resort REITs–0.10%
Host Hotels & Resorts, Inc.
10,034
252,154
Hotels, Resorts & Cruise Lines–0.47%
Airbnb, Inc., Class A(c)
848
128,489
Booking Holdings, Inc.
1,094
211,032
Carnival Corp. Ltd.
5,307
147,588
Expedia Group, Inc.
2,278
671,418
 
 
1,158,527
Household Products–0.46%
Colgate-Palmolive Co.
10,153
926,969
Procter & Gamble Co. (The)
1,369
197,807
 
 
1,124,776
Human Resource & Employment Services–0.14%
Automatic Data Processing, Inc.
1,246
332,009
Industrial Machinery & Supplies & Components–0.34%
Fortive Corp.
2,675
158,387
Nordson Corp.
408
121,494
Parker-Hannifin Corp.
562
548,810
 
 
828,691
Integrated Oil & Gas–0.21%
Chevron Corp.
1,594
313,747
ExxonMobil Holdings Corp.
694
107,875
Occidental Petroleum Corp.
1,784
101,813
 
 
523,435
Integrated Telecommunication Services–0.35%
AT&T, Inc.
12,306
286,115
Comcast Corp., Class A
16,764
401,665
Verizon Communications, Inc.
3,770
176,474
 
 
864,254
Interactive Home Entertainment–0.03%
Electronic Arts, Inc.
315
66,106
See accompanying notes which are an integral part of this consolidated schedule.
Invesco Multi-Strategy Fund

 
Shares
Value
Interactive Media & Services–1.53%
Alphabet, Inc., Class A
8,164
$2,907,445
Meta Platforms, Inc., Class A
1,510
840,632
 
 
3,748,077
Internet Services & Infrastructure–0.56%
Akamai Technologies, Inc.(c)
2,105
242,454
GoDaddy, Inc., Class A(c)
2,210
182,855
MongoDB, Inc.(c)
271
91,457
Twilio, Inc., Class A(c)
609
120,186
VeriSign, Inc.
2,496
723,890
 
 
1,360,842
Investment Banking & Brokerage–0.32%
Goldman Sachs Group, Inc. (The)
171
174,143
Morgan Stanley
2,917
613,795
 
 
787,938
IT Consulting & Other Services–0.44%
Accenture PLC, Class A
2,423
402,024
Cognizant Technology Solutions Corp.,
Class A
6,843
378,760
International Business Machines Corp.
1,351
302,151
 
 
1,082,935
Leisure Products–0.12%
Hasbro, Inc.
3,121
293,187
Life & Health Insurance–0.07%
Globe Life, Inc.
958
174,596
Life Sciences Tools & Services–0.08%
Illumina, Inc.(c)
903
185,205
Managed Health Care–0.29%
Centene Corp.(c)
5,460
339,721
Elevance Health, Inc.
550
206,712
UnitedHealth Group, Inc.
363
150,427
 
 
696,860
Metal, Glass & Plastic Containers–0.31%
Crown Holdings, Inc.
6,483
764,022
Movies & Entertainment–0.24%
Netflix, Inc.(c)
4,609
330,511
Walt Disney Co. (The)
1,317
126,682
Warner Bros. Discovery, Inc.(c)
5,172
136,024
 
 
593,217
Multi-Sector Holdings–0.36%
Berkshire Hathaway, Inc., Class B(c)
1,727
883,430
Multi-Utilities–0.59%
Ameren Corp.
7,149
783,602
Consolidated Edison, Inc.
1,007
109,612
DTE Energy Co.
3,132
444,337
NiSource, Inc.
2,424
107,698
 
 
1,445,249
Oil & Gas Equipment & Services–0.32%
Halliburton Co.
6,026
194,339
TechnipFMC PLC (United Kingdom)
8,067
578,081
 
 
772,420
 
Shares
Value
Oil & Gas Exploration & Production–0.44%
APA Corp.
19,930
$743,788
EOG Resources, Inc.
2,270
337,526
Sabine Oil & Gas Holdings, Inc.(c)(d)
115
8
 
 
1,081,322
Oil & Gas Refining & Marketing–0.60%
Marathon Petroleum Corp.
1,956
619,015
Valero Energy Corp.
2,732
854,843
 
 
1,473,858
Oil & Gas Storage & Transportation–0.27%
Kinder Morgan, Inc.
18,352
590,568
Williams Cos., Inc. (The)
982
70,252
 
 
660,820
Packaged Foods & Meats–0.18%
Hershey Co. (The)
1,422
248,921
Tyson Foods, Inc., Class A
3,441
199,440
 
 
448,361
Passenger Airlines–0.05%
Delta Air Lines, Inc.
1,258
110,000
Pharmaceuticals–1.34%
Bristol-Myers Squibb Co.
14,175
925,769
Eli Lilly and Co.
743
853,588
Johnson & Johnson
4,354
1,116,148
Merck & Co., Inc.
1,778
231,496
Viatris, Inc.
8,543
150,015
 
 
3,277,016
Property & Casualty Insurance–0.47%
Allstate Corp. (The)
1,167
308,181
American International Group, Inc.
743
58,385
Assurant, Inc.
1,374
383,607
Travelers Cos., Inc. (The)
1,039
388,960
 
 
1,139,133
Rail Transportation–0.16%
Norfolk Southern Corp.
356
119,431
Union Pacific Corp.
965
281,905
 
 
401,336
Real Estate Services–0.11%
Jones Lang LaSalle, Inc.(c)
746
264,852
Regional Banks–0.10%
Truist Financial Corp.
4,521
234,369
Reinsurance–0.09%
RenaissanceRe Holdings Ltd. (Bermuda)
712
227,826
Research & Consulting Services–0.06%
Leidos Holdings, Inc.
1,231
142,304
Semiconductor Materials & Equipment–0.65%
Applied Materials, Inc.
1,093
554,883
KLA Corp.
1,824
333,464
Lam Research Corp.
1,997
585,161
Teradyne, Inc.
315
115,822
 
 
1,589,330
See accompanying notes which are an integral part of this consolidated schedule.
Invesco Multi-Strategy Fund

 
Shares
Value
Semiconductors–3.63%
Advanced Micro Devices, Inc.(c)
1,239
$589,950
Analog Devices, Inc.
2,028
745,107
Broadcom, Inc.
3,760
1,463,693
First Solar, Inc.(c)
781
164,814
Intel Corp.(c)
2,530
228,206
Marvell Technology, Inc.
827
155,112
Micron Technology, Inc.
1,224
1,007,389
NVIDIA Corp.
19,202
3,854,802
ON Semiconductor Corp.(c)
905
73,857
QUALCOMM, Inc.
1,372
202,521
Texas Instruments, Inc.
1,428
393,757
 
 
8,879,208
Soft Drinks & Non-alcoholic Beverages–0.89%
Coca-Cola Co. (The)
7,290
638,531
Monster Beverage Corp.(c)
9,347
900,864
PepsiCo, Inc.
4,555
635,696
 
 
2,175,091
Steel–0.07%
Nucor Corp.
621
159,777
Systems Software–1.37%
CrowdStrike Holdings, Inc., Class A(c)
575
109,745
Gen Digital, Inc.
6,401
175,707
Microsoft Corp.
5,714
2,655,410
Oracle Corp.
771
100,130
Palo Alto Networks, Inc.(c)
482
159,942
ServiceNow, Inc.(c)
1,318
146,601
 
 
3,347,535
Technology Distributors–0.04%
TD SYNNEX Corp.
342
87,449
 
Shares
Value
Technology Hardware, Storage & Peripherals–2.03%
Apple, Inc.
11,844
$3,658,730
Dell Technologies, Inc., Class C
443
179,579
NetApp, Inc.
1,564
279,174
Sandisk Corp.(c)
197
239,321
Seagate Technology Holdings PLC
228
195,198
Western Digital Corp.
770
419,527
 
 
4,971,529
Tobacco–0.56%
Altria Group, Inc.
16,216
1,108,039
Philip Morris International, Inc. (Switzerland)
1,420
270,965
 
 
1,379,004
Transaction & Payment Processing Services–0.18%
Mastercard, Inc., Class A
212
121,497
Visa, Inc., Class A
854
312,675
 
 
434,172
Total Common Stocks & Other Equity Interests
(Cost $56,948,530)
85,304,327
Preferred Stocks–0.00%
Oil & Gas Storage & Transportation–0.00%
Southcross Energy Partners L.P., Pfd.
(Cost $68,449)(d)
68,466
404
Money Market Funds–4.21%
Invesco Treasury Portfolio, Institutional
Class, 3.63%(b)(e)
(Cost $10,297,391)
10,297,391
10,297,391
TOTAL INVESTMENTS IN SECURITIES–85.71%
(Cost $174,422,752)
209,579,453
OTHER ASSETS LESS LIABILITIES—14.29%
34,951,660
NET ASSETS–100.00%
$244,531,113
Investment Abbreviations: 
ETF
– Exchange-Traded Fund
Pfd.
– Preferred
REIT
– Real Estate Investment Trust
Notes to Consolidated Schedule of Investments: 
(a)
Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the
exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b)
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 nine months ended July 31, 2026.
 
 
Value
October 31, 2025
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
Realized
Gain
(Loss)
Value
July 31, 2026
Dividend Income
Invesco Managed Futures Strategy ETF
$113,226,420
$5,378,390
$(23,191,608)
$19,045,275
$(481,146)
$113,977,331
$1,152,261
Investments in Affiliated Money Market
Funds:
Invesco Treasury Portfolio, Institutional Class
13,977,978
85,320,992
(89,001,579)
-
-
10,297,391
502,743
Investments Purchased with Cash Collateral
from Securities on Loan:
Invesco Private Government Fund
-
2,173,077
(2,173,077)
-
-
-
1,441*
Invesco Private Prime Fund
-
5,810,941
(5,810,893)
-
(48)
-
3,875*
Total
$127,204,398
$98,683,400
$(120,177,157)
$19,045,275
$(481,194)
$124,274,722
$1,660,320
 
*
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.
 
(c)
Non-income producing security.
(d)
Security valued using significant unobservable inputs (Level 3). See Note 1.
(e)
The rate shown is the 7-day SEC standardized yield as of July 31, 2026.
 
See accompanying notes which are an integral part of this consolidated schedule.
Invesco Multi-Strategy Fund

Open Futures Contracts
Short Futures Contracts
Number of
Contracts
Expiration
Month
Notional
Value
Value
Unrealized
Appreciation
(Depreciation)
Equity Risk
E-Mini S&P 500 Index
179
September-2026
$(67,297,288
)
$(530,149
)
$(530,149
)
 
Open Forward Foreign Currency Contracts
Settlement
Date
Counterparty
Contract to
Unrealized
Appreciation
(Depreciation)
Deliver
Receive
Currency Risk
 
 
 
08/10/2026
Goldman Sachs International
USD
6,407,000
AUD
9,236,420
$91,574
08/10/2026
Goldman Sachs International
USD
6,407,000
EUR
5,584,752
34,573
Subtotal—Appreciation
126,147
Currency Risk
 
 
 
08/10/2026
Goldman Sachs International
JPY
1,027,937,798
USD
6,407,000
(56,693
)
08/10/2026
Goldman Sachs International
NZD
11,203,674
USD
6,407,000
(193,781
)
Subtotal—Depreciation
(250,474
)
Total Forward Foreign Currency Contracts
$(124,327
)
 
Open Centrally Cleared Interest Rate Swap Agreements
Pay/
Receive
Floating
Rate
Floating Rate Index
Payment
Frequency
(Pay)/
Receive
Fixed
Rate
Payment
Frequency
Maturity
Date
Notional Value
Upfront
Payments
Paid
(Received)
Value
Unrealized
Appreciation
(Depreciation)
Interest Rate Risk
Receive
28 Day MXN TIEF
28 days
(7.65)%
28 days
07/06/2031
MXN
195,130,000
$(16,630
)
$68,511
$85,141
Receive
ZARONIA
Annually
(7.41)
Annually
07/06/2031
ZAR
181,740,000
(13,905
)
163,030
176,935
Receive
6 Month BUBOR
Semi-Annually
(4.80)
Annually
07/06/2031
HUF
2,465,740,000
(9,361
)
169,340
178,701
Receive
6 Month SARON
Annually
(0.56)
Annually
07/06/2036
CHF
25,440,000
21,269
379,396
358,127
Receive
CORRA
Semi-Annually
(3.13)
Semi-Annually
07/06/2036
CAD
44,860,000
191,088
793,264
602,176
Receive
SOFR
Annually
(4.04)
Annually
07/07/2036
USD
31,600,000
(7,034
)
718,125
725,159
Subtotal — Appreciation
 
165,427
2,291,666
2,126,239
Interest Rate Risk
Pay
3 Month STIBOR
Quarterly
2.82
Annually
07/06/2036
SEK
306,600,000
(12,726
)
(850,243
)
(837,517
)
Pay
SONIA
Annually
4.38
Annually
07/06/2036
GBP
23,680,000
23,279
(647,829
)
(671,108
)
Pay
6 Month NIBOR
Semi-Annually
4.36
Annually
07/06/2036
NOK
312,230,000
(10,086
)
(427,266
)
(417,180
)
Pay
FBIL Overnight
MIBOR
Semi-Annually
6.19
Semi-Annually
07/07/2031
INR
2,166,380,000
(1,072
)
(167,437
)
(166,365
)
Pay
TTHORON
Quarterly
1.61
Quarterly
07/07/2031
THB
684,850,000
18,476
(125,736
)
(144,212
)
Pay
KWCDC
Quarterly
3.95
Quarterly
07/07/2031
KRW
27,801,550,000
22,001
(7,150
)
(29,151
)
Subtotal — Depreciation
 
39,872
(2,225,661
)
(2,265,533
)
Total Centrally Cleared Interest Rate Swap Agreements
 
$205,299
$66,005
$(139,294
)
 
See accompanying notes which are an integral part of this consolidated schedule.
Invesco Multi-Strategy Fund

Open Over-The-Counter Total Return Swap Agreements(a)
Counterparty
Pay/
Receive
Reference Entity(b)
Fixed
Rate
Payment
Frequency
Number of
Contracts
Maturity Date
Notional Value
Upfront
Payments
Paid
(Received)
Value
Unrealized
Appreciation
(Depreciation)
Equity Risk
 
 
 
 
Goldman Sachs
International
Receive
FTSE Developed ex US
Invesco Dynamic
Multi-Factor Monthly
Long Short Total Return
Index
0.45%
Monthly
69,820
September—2026
USD
100,799,134
$—
$235,293
$235,293
Goldman Sachs
International
Receive
FTSE Developed ex US
Invesco Dynamic
Multi-Factor Monthly
Long Short Total Return
Index
0.45
Monthly
1,150
September—2026
USD
1,660,255
—
3,875
3,875
Goldman Sachs
International
Receive
FTSE Developed ex US
Invesco Dynamic
Multi-Factor Monthly
Long Short Total Return
Index
0.45
Monthly
510
September—2026
USD
736,287
—
1,719
1,719
Goldman Sachs
International
Receive
Russell 1000 Invesco
Dynamic Multi-Factor
Monthly Long Short
Total Return Index
0.13
Monthly
33,300
September—2026
USD
38,972,322
—
138,528
138,528
Subtotal — Appreciation
 
—
379,415
379,415
Commodity Risk
 
 
 
 
Barclays Bank PLC
Receive
Barclays Commodity
Strategy1756 Excess
Return Index
0.42
Monthly
229,330
February—2027
USD
49,128,219
—
(491,110
)
(491,110
)
Macquarie Bank Ltd.
Receive
Macquarie F6 Carry
Alpha Index
0.32
Monthly
152,940
April—2027
USD
42,274,926
—
(210,231
)
(210,231
)
Subtotal
 
 
 
 
—
(701,341
)
(701,341
)
Equity Risk
 
 
 
 
J.P. Morgan Chase
Bank, N.A.
Receive
Russell 2000 Invesco
Dynamic Multi-Factor
Monthly Long Short
Total Return Index
0.25
Monthly
950
September—2026
USD
1,169,868
—
(5,235
)
(5,235
)
J.P. Morgan Chase
Bank, N.A.
Receive
Russell 2000 Invesco
Dynamic Multi-Factor
Monthly Long Short
Total Return Index
0.25
Monthly
31,400
September—2026
USD
38,667,216
—
(173,011
)
(173,011
)
Subtotal
 
 
 
 
—
(178,246
)
(178,246
)
Subtotal — Depreciation
 
—
(879,587
)
(879,587
)
Total — Total Return Swap Agreements
 
$—
$(500,172
)
$(500,172
)
 
(a)   The Fund receives or pays payments based on any positive or negative return on the Reference Entity, respectively.
(b)   The Reference Entity Components table below includes additional information regarding the underlying components of certain reference entities that are not
  publicly available.
 
See accompanying notes which are an integral part of this consolidated schedule.
Invesco Multi-Strategy Fund

Reference Entity Components
Reference Entity
Underlying Components
Percentage
Barclays Commodity Strategy1756 Excess Return Index
 
 
Aluminum
3.61%
 
Brent Crude
10.16%
 
Cocoa
1.49%
 
Coffee
2.24%
 
Corn
4.79%
 
Cotton
1.76%
 
Gas Oil
4.59%
 
Gasoline
3.37%
 
Gold
12.13%
 
Heating Oil
3.67%
 
Kansas Wheat
2.02%
 
Lead
0.76%
 
Lean Hogs
1.61%
 
Live Cattle
3.32%
 
Natural Gas
6.25%
 
Nickel
1.84%
 
Silver
2.65%
 
Soybean Meal
2.68%
 
Soybean Oil
3.57%
 
Soybeans
5.28%
 
Sugar
2.59%
 
US Copper
6.11%
 
Wheat
2.99%
 
WTI Crude
8.25%
 
Zinc
2.27%
 
Total
100.00%
Macquarie F6 Carry Alpha Index
 
 
Aluminum
4.89%
 
Brent Crude
1.96%
 
Coffee
2.84%
 
Corn
7.15%
 
Cotton
2.47%
 
Gas Oil
5.37%
 
Gasoline
3.69%
 
Heating Oil
4.23%
 
Kansas Wheat
2.98%
 
Lead
1.08%
 
Lean Hogs
2.00%
 
Live Cattle
4.48%
 
Natural Gas
8.73%
 
Nickel
2.63%
 
Soybean Meal
3.76%
 
Soybean Oil
4.58%
 
Soybeans
7.26%
 
Sugar
3.66%
 
US Copper
8.68%
 
Wheat
4.26%
 
WTI Crude
10.24%
 
Zinc
3.08%
 
Total
100.00%
 
See accompanying notes which are an integral part of this consolidated schedule.
Invesco Multi-Strategy Fund

Abbreviations:
AUD
—Australian Dollar
BUBOR
—Budapest Interbank Offered Rate
CAD
—Canadian Dollar
CHF
—Swiss Franc
CORRA
—Canadian Overnight Repo Rate Average
EUR
—Euro
FBIL
—Financial Benchmarks India Private Ltd.
GBP
—British Pound Sterling
HUF
—Hungarian Forint
INR
—Indian Rupee
JPY
—Japanese Yen
KRW
—South Korean Won
KWCDC
—South Korean Won Certificate of Deposit
MIBOR
—Mumbai Interbank Offered Rate
MXN
—Mexican Peso
NIBOR
—Norwegian Interbank Offered Rate
NOK
—Norwegian Krone
NZD
—New Zealand Dollar
SARON
—Swiss Average Rate Overnight
SEK
—Swedish Krona
SOFR
—Secured Overnight Financing Rate
SONIA
—Sterling Overnight Index Average
STIBOR
—Stockholm Interbank Offered Rate
THB
—Thai Baht
TIEF
—Overnight TIIE Funding Rate
TTHORON
—Thai Overnight Repurchase Rate
USD
—U.S. Dollar
ZAR
—South African Rand
ZARONIA
—South African Rand Overnight Index Average
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 Multi-Strategy Fund

Notes to Quarterly Consolidated Schedule of Portfolio Holdings
July 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 July 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 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
Exchange-Traded Funds
$113,977,331
$—
$—
$113,977,331
Common Stocks & Other Equity Interests
85,304,319
—
8
85,304,327
Preferred Stocks
—
—
404
404
Money Market Funds
10,297,391
—
—
10,297,391
Total Investments in Securities
209,579,041
—
412
209,579,453
Other Investments - Assets*
Forward Foreign Currency Contracts
—
126,147
—
126,147
Swap Agreements
—
2,505,654
—
2,505,654
 
—
2,631,801
—
2,631,801
Other Investments - Liabilities*
Futures Contracts
(530,149
)
—
—
(530,149
)
Forward Foreign Currency Contracts
—
(250,474
)
—
(250,474
)
Swap Agreements
—
(3,145,120
)
—
(3,145,120
)
 
(530,149
)
(3,395,594
)
—
(3,925,743
)
Total Other Investments
(530,149
)
(763,793
)
—
(1,293,942
)
Total Investments
$209,048,892
$(763,793
)
$412
$208,285,511
 
*
Forward foreign currency contracts, futures contracts and swap agreements are valued at unrealized appreciation (depreciation).
Invesco Multi-Strategy Fund