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Form NPORT-P AIM GROWTH SERIES (INVES For: Mar 31

May 24, 2022 11:53 AM EDT

  
    NPORT-P
    false
    
      
      
        
          0000202032
          XXXXXXXX
        
      
      
      
      
        S000060032
        C000196563
        C000196566
        C000196565
        C000196562
        C000196567
        C000196564
      
      
      
    
  
  
    
      AIM Growth Series (Invesco Growth Series)
      811-02699
      0000202032
      EHBZ0YMC2UFRMDIU6731
      11 Greenway Plaza
      Suite 1000
      Houston
      
      77046-1173
      800-959-4246
      Invesco Peak Retirement 2020 Fund
      S000060032
      549300JNXDIIVFKKFD18
      2022-12-31
      2022-03-31
      N
    
    
      11872107.90
      145434.56
      11726673.34
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      N
      
        
          
          
          
          
          
          
        
        
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
      
    
    
      
        Invesco PureBeta MSCI USA ETF
        5493008H06WK6AG6B452
        Invesco PureBeta MSCI USA ETF
        46138E461
        
          
        
        10472.00000000
        NS
        USD
        476685.44000000
        4.064967328577
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco RAFI Strategic Developed ex-US ETF
        549300MIO8IITDIM6349
        Invesco RAFI Strategic Developed ex-US ETF
        46138J726
        
          
        
        7835.00000000
        NS
        USD
        236852.05000000
        2.019771875047
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco International Bond Fund
        549300J2M4RECICIYD26
        Invesco International Bond Fund, Class R6
        00143K624
        
          
        
        82009.46800000
        NS
        USD
        392005.26000000
        3.342851366575
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco S&P 500 High Dividend Low Volatility ETF
        549300EH39KIIB7RDC93
        Invesco S&P 500 High Dividend Low Volatility ETF
        46138E362
        
          
        
        14281.00000000
        NS
        USD
        674206.01000000
        5.749337347875
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco Government & Agency Portfolio
        5493007T1J7WZ5QI1A47
        Invesco Government & Agency Portfolio, Institutional Class
        825252885
        
          
        
        287745.40000000
        NS
        USD
        287745.40000000
        2.453768359168
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco Core Plus Bond Fund
        NCXB2DT3OPGBTXZ48T67
        Invesco Core Plus Bond Fund, Class R6
        00141A438
        
          
        
        96688.31300000
        NS
        USD
        990088.33000000
        8.443045195288
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco EQV Emerging Markets All Cap Fund
        549300DT0YLBS5775G48
        Invesco EQV Emerging Markets All Cap Fund, Class R6
        00142R521
        
          
        
        10467.59300000
        NS
        USD
        340510.80000000
        2.903728876274
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco Global Real Estate Income Fund
        5493000PRO2ZTOGLEV29
        Invesco Global Real Estate Income Fund, Class R6
        00141A412
        
          
        
        40681.84200000
        NS
        USD
        389732.05000000
        3.323466414559
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco S&P 500 Enhanced Value ETF
        549300KELOXG7BSS5S46
        Invesco S&P 500 Enhanced Value ETF
        46138E396
        
          
        
        11395.00000000
        NS
        USD
        510723.90000000
        4.355232598301
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco Taxable Municipal Bond ETF
        5493005CJDPIU03Q9Y94
        Invesco Taxable Municipal Bond ETF
        46138G805
        
          
        
        42999.00000000
        NS
        USD
        1275780.33000000
        10.87930304708
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco Developing Markets Fund
        5493007M7L0S0RQPVO20
        Invesco Developing Markets Fund, Class R6
        00143W859
        
          
        
        8637.10800000
        NS
        USD
        342288.59000000
        2.918889100734
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco Income Fund
        549300H96DM3TTI50260
        Invesco Income Fund, Class R6
        001421445
        
          
        
        32300.75700000
        NS
        USD
        244516.73000000
        2.085132952121
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco U.S. Managed Volatility Fund
        549300G89RJJT99O2O73
        Invesco U.S. Managed Volatility Fund, Class R6
        00143K301
        
          
        
        44363.47100000
        NS
        USD
        615321.34000000
        5.247194341988
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco Variable Rate Investment Grade ETF
        549300J21GX50YC4UV93
        Invesco Variable Rate Investment Grade ETF
        46090A879
        
          
        
        15045.00000000
        NS
        USD
        375071.85000000
        3.198450567567
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco Multi-Asset Income Fund
        54930019G62M8SP8B305
        Invesco Multi-Asset Income Fund, Class R6
        00888Y839
        
          
        
        15451.59700000
        NS
        USD
        141382.11000000
        1.205645504916
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco Variable Rate Preferred ETF
        549300INXEJOUVOV7Z07
        Invesco Variable Rate Preferred ETF
        46138G870
        
          
        
        9148.00000000
        NS
        USD
        223577.12000000
        1.906569011668
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco S&P International Developed Low Volatility ETF
        549300P32QINHFXYMK04
        Invesco S&P International Developed Low Volatility ETF
        46138E230
        
          
        
        10198.00000000
        NS
        USD
        317565.72000000
        2.708063154763
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco Russell 1000 Dynamic Multifactor ETF
        549300G6URT3APKHZ077
        Invesco Russell 1000 Dynamic Multifactor ETF
        46138J619
        
          
        
        13012.00000000
        NS
        USD
        619371.20000000
        5.281729797037
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco Liquid Assets Portfolio
        549300DC1W0JSX3QRC47
        Invesco Liquid Assets Portfolio, Institutional Class
        825252729
        
          
        
        311974.75100000
        NS
        USD
        311881.16000000
        2.659587684907
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco Main Street Small Cap Fund
        549300QSHIYEHPS1LK91
        Invesco Main Street Small Cap Fund, Class R6
        00900R481
        
          
        
        24349.23800000
        NS
        USD
        490150.16000000
        4.179788639017
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco Short Duration Inflation Protected Fund
        549300V8T0KQ1PWXMT14
        Invesco Short Duration Inflation Protected Fund, Class R6
        001421551
        
          
        
        48817.64600000
        NS
        USD
        519907.93000000
        4.433550035256
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco Floating Rate ESG Fund
        549300E49OSEYIXDNX50
        Invesco Floating Rate ESG Fund, Class R6
        00141A420
        
          
        
        85127.59600000
        NS
        USD
        612918.69000000
        5.226705581618
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco Intermediate Bond Factor Fund
        549300VKJFGD8ZYU4704
        Invesco Intermediate Bond Factor Fund, Class R6
        001421254
        
          
        
        45857.80600000
        NS
        USD
        464539.57000000
        3.961392600708
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco Macro Allocation Strategy Fund
        549300JLK5EEK0QQ3G41
        Invesco Macro Allocation Strategy Fund, Class R6
        00142R463
        
          
        
        11734.62200000
        NS
        USD
        94229.01000000
        0.803544255629
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco International Small-Mid Company Fund
        5493006QTJ8BO6NV8I59
        Invesco International Small-Mid Company Fund, Class R6
        00900W555
        
          
        
        2935.63600000
        NS
        USD
        138268.46000000
        1.179093643960
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco High Yield Bond Factor ETF
        549300RW20HYQZ1T7698
        Invesco High Yield Bond Factor ETF
        46090A853
        
          
        
        29396.00000000
        NS
        USD
        707006.14000000
        6.029042674774
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
    
    
      2022-04-30
      AIM Growth Series (Invesco Growth Series)
      Sheri Morris
      Sheri Morris
      President
    
  
  XXXX



Schedule of Investments
March 31, 2022
(Unaudited)
Invesco Peak Retirement™ Destination Fund
Schedule of Investments in Affiliated Issuers–100.59%(a)
  % of
Net
Assets
03/31/22
Value
12/31/21
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain (Loss)
Dividend
Income
Shares
03/31/22
Value
03/31/22
Alternative Funds–11.55%
Invesco Global Real Estate Income Fund, Class R6 7.56% $372,819 $53,032 $(36,648) $(19,463) $3,135 $2,121 38,922 $372,875
Invesco Multi-Asset Income Fund, Class R6 3.99% 201,619 23,357 (15,677) (11,833) (835) 3,193 21,490 196,631
Total Alternative Funds   574,438 76,389 (52,325) (31,296) 2,300 5,314   569,506
Domestic Equity Funds–19.61%
Invesco S&P 500® Enhanced Value ETF 8.56% 432,173 42,242 (58,838) (8,443) 14,757 2,205 9,413 421,891
Invesco S&P 500® High Dividend Low Volatility ETF(b) 11.05% 544,492 54,053 (77,292) 10,960 12,685 5,065 11,542 544,898
Total Domestic Equity Funds   976,665 96,295 (136,130) 2,517 27,442 7,270   966,789
Fixed Income Funds–56.19%
Invesco Core Plus Bond Fund, Class R6 8.29% 424,429 66,505 (50,086) (29,048) (3,272) 2,622 39,896 408,528
Invesco Floating Rate ESG Fund, Class R6 6.00% 300,333 34,551 (35,462) (3,698) 240 2,857 41,106 295,964
Invesco High Yield Bond Factor ETF 6.66% 336,808 45,788 (35,753) (16,389) (2,156) 3,851 13,650 328,298
Invesco Income Fund, Class R6 5.91% 300,088 38,162 (34,772) (11,777) (119) 2,498 38,518 291,582
Invesco Intermediate Bond Factor Fund, Class R6 3.91% 199,563 31,084 (24,205) (12,380) (1,493) 955 19,010 192,569
Invesco International Bond Fund, Class R6 5.67% 277,190 50,543 (31,245) (14,227) (2,926) 2,119 58,438 279,335
Invesco Short Duration Inflation Protected Fund, Class R6 4.50% 225,495 30,313 (29,677) (4,036) (45) 2,881 20,850 222,050
Invesco Taxable Municipal Bond ETF 10.78% 545,686 110,289 (67,033) (53,432) (3,913) 3,753 17,917 531,597
Invesco Variable Rate Preferred ETF 4.47% 225,763 33,277 (25,069) (13,406) (190) 2,628 9,017 220,375
Total Fixed Income Funds   2,835,355 440,512 (333,302) (158,393) (13,874) 24,164   2,770,298
Foreign Equity Funds–8.24%
Invesco S&P International Developed Low Volatility ETF 8.24% 404,075 44,133 (33,284) (9,814) 987 3,078 13,041 406,097
Money Market Funds–5.00%
Invesco Government & Agency Portfolio, Institutional Class, 0.25%(c) 2.36% 121,437 411,938 (416,864) 19 116,511 116,511
Invesco Liquid Assets Portfolio, Institutional Class, 0.25%(c) 2.64% 135,061 411,938 (416,864) (26) (40) 16 130,108 130,069
Total Money Market Funds   256,498 823,876 (833,728) (26) (40) 35   246,580
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (excluding investments purchased with cash collateral from securities on loan)
(Cost $4,901,736)
100.59% 5,047,031 1,481,205 (1,388,769) (197,012) 16,815 39,861   4,959,270
Investments Purchased with Cash Collateral from Securities on Loan                  
Money Market Funds–1.29%
Invesco Private Government Fund, 0.31%(c)(d) 0.39% 962,412 (943,395) 18(e) 19,017 19,017
Invesco Private Prime Fund, 0.34%(c)(d) 0.90% 2,240,247 (2,195,889) 4 10 41(e) 44,377 44,372
Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $63,385)
1.29% 3,202,659 (3,139,284) 4 10 59   63,389
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (Cost $4,965,121)  101.88% $5,047,031 $4,683,864 $(4,528,053) $(197,008) $16,825 $39,920   $5,022,659
OTHER ASSETS LESS LIABILITIES (1.88)%               (92,646)
NET ASSETS 100.00%               $4,930,013
Investment Abbreviations:
ETF - Exchange-Traded Fund
See accompanying notes which are an integral part of this schedule.
Invesco Peak Retirement™ Funds

Schedule of Investments—(continued)
March 31, 2022
(Unaudited)
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, 2022.
(c) The rate shown is the 7-day SEC standardized yield as of March 31, 2022.
(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 Peak Retirement™ Funds

Schedule of Investments
March 31, 2022
(Unaudited)
Invesco Peak Retirement™ 2010 Fund
Schedule of Investments in Affiliated Issuers–100.14%(a)
  % of
Net
Assets
03/31/22
Value
12/31/21
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain (Loss)
Dividend
Income
Shares
03/31/22
Value
03/31/22
Alternative Funds–9.45%
Invesco Global Real Estate Income Fund, Class R6 6.26% $34,489 $6,747 $(1,594) $(1,319) $(122) $217 3,987 $38,201
Invesco Multi-Asset Income Fund, Class R6 3.19% 16,259 5,311 (996) (957) (104) 289 2,133 19,513
Total Alternative Funds   50,748 12,058 (2,590) (2,276) (226) 506   57,714
Domestic Equity Funds–21.46%
Invesco Main Street Small Cap Fund, Class R6 0.78% 5,121 973 (976) (106) (226) 238 4,786
Invesco S&P 500® Enhanced Value ETF 9.15% 53,844 7,718 (6,263) 395 196 265 1,247 55,890
Invesco S&P 500® High Dividend Low Volatility ETF 11.53% 65,249 10,827 (8,545) 2,628 231 585 1,491 70,390
Total Domestic Equity Funds   124,214 19,518 (15,784) 2,917 201 850   131,066
Fixed Income Funds–54.85%
Invesco Core Plus Bond Fund, Class R6 8.41% 47,477 10,132 (2,778) (3,191) (294) 291 5,014 51,346
Invesco Floating Rate ESG Fund, Class R6 6.01% 33,672 6,723 (3,320) (268) (96) 320 5,099 36,711
Invesco High Yield Bond Factor ETF 6.49% 36,478 6,601 (1,581) (1,762) (124) 399 1,647 39,612
Invesco Income Fund, Class R6 5.54% 30,889 6,214 (2,078) (1,092) (93) 255 4,470 33,840
Invesco Intermediate Bond Factor Fund, Class R6 3.94% 21,492 5,462 (1,394) (1,375) (105) 106 2,377 24,080
Invesco International Bond Fund, Class R6 5.15% 28,349 4,772 (1,692) 215 6,575 31,429
Invesco Short Duration Inflation Protected Fund, Class R6 4.41% 24,406 6,000 (3,011) (426) (58) 349 2,527 26,911
Invesco Taxable Municipal Bond ETF 10.81% 61,504 12,437 (1,628) (6,119) (178) 403 2,225 66,016
Invesco Variable Rate Preferred ETF 4.09% 22,628 4,605 (997) (1,170) (88) 252 1,022 24,978
Total Fixed Income Funds   306,895 62,946 (16,787) (17,095) (1,036) 2,590   334,923
Foreign Equity Funds–8.78%
Invesco Developing Markets Fund, Class R6 1.00% 6,304 773 (969) 154 6,108
Invesco S&P International Developed Low Volatility ETF 7.78% 43,954 6,946 (2,359) (878) (175) 322 1,525 47,488
Total Foreign Equity Funds   50,258 7,719 (2,359) (1,847) (175) 322   53,596
Money Market Funds–5.60%
Invesco Government & Agency Portfolio, Institutional Class, 0.25%(b) 1.96% 10,297 41,286 (39,610) 1 11,973 11,973
Invesco Liquid Assets Portfolio, Institutional Class, 0.25%(b) 1.40% 7,353 29,490 (28,293) (4) 8,548 8,546
Invesco Treasury Portfolio, Institutional Class, 0.16%(b) 2.24% 11,768 47,184 (45,269) 13,683 13,683
Total Money Market Funds   29,418 117,960 (113,172) (4) 1   34,202
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (Cost $627,175)  100.14% $561,533 $220,201 $(150,692) $(18,301) $(1,240) $4,269   $611,501
OTHER ASSETS LESS LIABILITIES (0.14)%               (877)
NET ASSETS 100.00%               $610,624
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) The rate shown is the 7-day SEC standardized yield as of March 31, 2022.
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 Peak Retirement™ Funds

Schedule of Investments
March 31, 2022
(Unaudited)
Invesco Peak Retirement™ 2015 Fund
Schedule of Investments in Affiliated Issuers–100.41%(a)
  % of
Net
Assets
03/31/22
Value
12/31/21
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain (Loss)
Dividend
Income
Shares
03/31/22
Value
03/31/22
Alternative Funds–7.09%
Invesco Global Real Estate Income Fund, Class R6 4.87% $74,415 $13,427 $(2,718) $(3,647) $255 $465 8,531 $81,732
Invesco Multi-Asset Income Fund, Class R6 2.22% 32,671 7,003 (2,303) 592 4,084 37,371
Total Alternative Funds   107,086 20,430 (2,718) (5,950) 255 1,057   119,103
Domestic Equity Funds–24.43%
Invesco Main Street Small Cap Fund, Class R6 2.77% 54,735 5,731 (10,982) (2,569) (344) 2,314 46,571
Invesco S&P 500® Enhanced Value ETF 9.72% 165,264 6,113 (9,744) (1,911) 3,557 854 3,643 163,279
Invesco S&P 500® High Dividend Low Volatility ETF 11.94% 203,307 6,232 (17,428) 5,129 3,402 1,889 4,250 200,642
Total Domestic Equity Funds   423,306 18,076 (38,154) 649 6,615 2,743   410,492
Fixed Income Funds–53.37%
Invesco Core Plus Bond Fund, Class R6 8.51% 139,327 14,404 (10,682) 876 13,970 143,049
Invesco Floating Rate ESG Fund, Class R6 6.09% 99,121 4,624 (308) (1,137) (4) 956 14,208 102,296
Invesco High Yield Bond Factor ETF 6.32% 102,530 9,321 (5,714) 1,201 4,413 106,137
Invesco Income Fund, Class R6 4.71% 73,977 8,226 (3,077) 652 10,452 79,126
Invesco Intermediate Bond Factor Fund, Class R6 3.99% 64,528 7,146 (4,579) 322 6,623 67,095
Invesco International Bond Fund, Class R6 4.70% 74,264 9,659 (4,935) 778 16,525 78,988
Invesco Short Duration Inflation Protected Fund, Class R6 4.46% 73,961 5,238 (2,886) (1,357) 10 973 7,039 74,966
Invesco Taxable Municipal Bond ETF 10.95% 180,390 22,778 (19,214) 1,227 6,200 183,954
Invesco Variable Rate Preferred ETF 3.64% 57,594 7,019 (3,537) 695 2,499 61,076
Total Fixed Income Funds   865,692 88,415 (3,194) (54,232) 6 7,680   896,687
Foreign Equity Funds–10.30%
Invesco EQV Emerging Markets All Cap Fund, Class R6 1.21% 24,681 3,138 (4,543) (2,264) (692) 625 20,320
Invesco Developing Markets Fund, Class R6 1.47% 24,876 4,596 (831) (3,801) (140) 623 24,700
Invesco S&P International Developed Low Volatility ETF 7.62% 124,520 6,660 (3,163) 960 4,111 128,017
Total Foreign Equity Funds   174,077 14,394 (5,374) (9,228) (832) 960   173,037
Money Market Funds–5.22%
Invesco Government & Agency Portfolio, Institutional Class, 0.25%(b) 2.62% 43,354 62,175 (61,566) 7 43,963 43,963
Invesco Liquid Assets Portfolio, Institutional Class, 0.25%(b) 2.60% 43,051 62,174 (61,565) (12) (13) 5 43,648 43,635
Total Money Market Funds   86,405 124,349 (123,131) (12) (13) 12   87,598
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (Cost $1,679,392)  100.41% $1,656,566 $265,664 $(172,571) $(68,773) $6,031 $12,452   $1,686,917
OTHER ASSETS LESS LIABILITIES (0.41)%               (6,871)
NET ASSETS 100.00%               $1,680,046
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) The rate shown is the 7-day SEC standardized yield as of March 31, 2022.
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 Peak Retirement™ Funds

Schedule of Investments
March 31, 2022
(Unaudited)
Invesco Peak Retirement™ 2020 Fund
Schedule of Investments in Affiliated Issuers–100.58%(a)
  % of
Net
Assets
03/31/22
Value
12/31/21
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain (Loss)
Dividend
Income
Shares
03/31/22
Value
03/31/22
Alternative Funds–5.33%
Invesco Global Real Estate Income Fund, Class R6 3.32% $382,843 $49,284 $(24,782) $(19,348) $1,735 $2,216 40,682 $389,732
Invesco Macro Allocation Strategy Fund, Class R6 0.80% 123,136 (22,672) (4,455) (1,780) 11,735 94,229
Invesco Multi-Asset Income Fund, Class R6 1.21% 125,351 29,556 (4,431) (8,779) (315) 2,306 15,451 141,382
Total Alternative Funds   631,330 78,840 (51,885) (32,582) (360) 4,522   625,343
Domestic Equity Funds–28.87%
Invesco Main Street Small Cap Fund, Class R6 4.18% 586,764 43,367 (108,982) (24,084) (6,915) 24,349 490,150
Invesco PureBetaSM MSCI USA ETF 4.06% 624,487 44,355 (164,750) (57,933) 30,526 1,743 10,472 476,685
Invesco Russell 1000 Dynamic Multifactor ETF 5.28% 821,239 55,776 (215,002) (84,694) 42,052 1,622 13,012 619,371
Invesco S&P 500® Enhanced Value ETF 4.35% 379,840 199,881 (67,495) (16,446) 14,944 2,700 11,395 510,724
Invesco S&P 500® High Dividend Low Volatility ETF 5.75% 514,109 220,057 (84,479) 12,533 11,987 6,433 14,281 674,207
Invesco U.S. Managed Volatility Fund, Class R6 5.25% 820,799 27,079 (185,704) (76,438) 29,585 44,364 615,321
Total Domestic Equity Funds   3,747,238 590,515 (826,412) (247,062) 122,179 12,498   3,386,458
Fixed Income Funds–49.55%
Invesco Core Plus Bond Fund, Class R6 8.46% 1,060,678 52,924 (43,447) (75,151) (2,813) 6,342 96,893 992,191
Invesco Floating Rate ESG Fund, Class R6 5.24% 628,753 42,457 (49,299) (7,240) 208 5,973 85,400 614,879
Invesco High Yield Bond Factor ETF 6.03% 749,467 28,840 (31,025) (38,611) (1,665) 8,321 29,396 707,006
Invesco Income Fund, Class R6 2.09% 186,630 81,521 (13,083) (10,333) 475 2,088 32,392 245,210
Invesco Intermediate Bond Factor Fund, Class R6 3.97% 493,721 23,965 (18,860) (32,561) (955) 3,116 45,934 465,310
Invesco International Bond Fund, Class R6 3.35% 375,455 63,503 (20,446) (24,011) (1,480) 3,037 82,222 393,021
Invesco Short Duration Inflation Protected Fund, Class R6 4.43% 563,057 19,192 (52,479) (8,654) (1,208) 6,747 48,817 519,908
Invesco Taxable Municipal Bond ETF 10.87% 1,373,344 86,903 (45,085) (137,312) (2,070) 8,891 42,999 1,275,780
Invesco Variable Rate Investment Grade ETF 3.20% 499,346 3,309 (125,520) (2,220) 157 635 15,045 375,072
Invesco Variable Rate Preferred ETF 1.91% 185,898 55,659 (4,221) (13,490) (269) 2,652 9,148 223,577
Total Fixed Income Funds   6,116,349 458,273 (403,465) (349,583) (9,620) 47,802   5,811,954
Foreign Equity Funds–11.72%
Invesco EQV Emerging Markets All Cap Fund, Class R6 2.90% 407,005 67,651 (87,974) (29,505) (16,666) 10,468 340,511
Invesco Developing Markets Fund, Class R6 2.92% 409,798 60,822 (76,043) (33,659) (18,629) 8,637 342,289
Invesco International Small-Mid Company Fund, Class R6 1.18% 194,395 15,010 (42,641) (32,550) 4,054 2,936 138,268
Invesco RAFI™ Strategic Developed ex-US ETF 2.02% 313,297 5,436 (82,943) (4,179) 5,241 2,158 7,835 236,852
Invesco S&P International Developed Low Volatility ETF 2.70% 187,338 155,361 (16,369) (9,302) 538 2,431 10,198 317,566
Total Foreign Equity Funds   1,511,833 304,280 (305,970) (109,195) (25,462) 4,589   1,375,486
Money Market Funds–5.11%
Invesco Government & Agency Portfolio, Institutional Class, 0.25%(b) 2.45% 319,469 953,193 (984,916) 43 287,746 287,746
Invesco Liquid Assets Portfolio, Institutional Class, 0.25%(b) 2.66% 343,753 953,193 (984,917) (38) (110) 35 311,975 311,881
Total Money Market Funds   663,222 1,906,386 (1,969,833) (38) (110) 78   599,627
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (excluding investments purchased with cash collateral from securities on loan)
(Cost $11,940,874)
100.58% 12,669,972 3,338,294 (3,557,565) (738,460) 86,627 69,489   11,798,868
See accompanying notes which are an integral part of this schedule.
Invesco Peak Retirement™ Funds

Schedule of Investments—(continued)
March 31, 2022
(Unaudited)
Invesco Peak Retirement™ 2020 Fund (continued)
Schedule of Investments in Affiliated Issuers–100.58%(a)
  % of
Net
Assets
03/31/22
Value
12/31/21
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain (Loss)
Dividend
Income
Shares
03/31/22
Value
03/31/22
Investments Purchased with Cash Collateral from Securities on Loan                  
Money Market Funds–0.00%
Invesco Private Government Fund, 0.31%(b) $$368,398 $(368,398) $$$12(c) $
Invesco Private Prime Fund, 0.34%(b) 856,571 (856,616) 45 36(c)
Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $0)
0.00% 1,224,969 (1,225,014) 45 48  
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (Cost $11,940,874)  100.58% $12,669,972 $4,563,263 $(4,782,579) $(738,460) $86,672 $69,537   $11,798,868
OTHER ASSETS LESS LIABILITIES (0.58)%               (68,568)
NET ASSETS 100.00%               $11,730,300
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) The rate shown is the 7-day SEC standardized yield as of March 31, 2022.
(c) 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 Peak Retirement™ Funds

Schedule of Investments
March 31, 2022
(Unaudited)
Invesco Peak Retirement™ 2025 Fund
Schedule of Investments in Affiliated Issuers–99.85%(a)
  % of
Net
Assets
03/31/22
Value
12/31/21
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain (Loss)
Dividend
Income
Shares
03/31/22
Value
03/31/22
Alternative Funds–5.10%
Invesco Global Real Estate Income Fund, Class R6 3.11% $740,583 $59,653 $$(31,465) $$4,372 80,248 $768,771
Invesco Macro Allocation Strategy Fund, Class R6 1.80% 492,821 23,268 (44,587) (23,678) (3,380) 55,348 444,444
Invesco Multi-Asset Income Fund, Class R6 0.19% 50,061 (2,709) 760 5,175 47,352
Total Alternative Funds   1,233,404 132,982 (44,587) (57,852) (3,380) 5,132   1,260,567
Domestic Equity Funds–35.77%
Invesco Discovery Mid Cap Growth Fund, Class R6 2.39% 736,567 89,889 (120,401) (134,824) 19,622 19,449 590,853
Invesco Main Street Small Cap Fund, Class R6 5.06% 1,289,724 162,269 (130,770) (58,063) (13,060) 62,101 1,250,100
Invesco PureBetaSM MSCI USA ETF 5.94% 1,476,437 114,598 (47,522) (85,511) 10,564 5,266 32,262 1,468,566
Invesco Russell 1000 Dynamic Multifactor ETF 8.44% 2,150,998 143,821 (81,510) (143,080) 17,269 5,291 43,855 2,087,498
Invesco S&P 500® Enhanced Value ETF 0.58% 149,618 (5,746) 752 3,210 143,872
Invesco S&P 500® High Dividend Low Volatility ETF 0.83% 199,454 4,493 1,845 4,320 203,947
Invesco U.S. Managed Volatility Fund, Class R6 12.53% 3,436,423 225,789 (352,240) (258,112) 47,700 223,472 3,099,560
Total Domestic Equity Funds   9,090,149 1,085,438 (732,443) (680,843) 82,095 13,154   8,844,396
Fixed Income Funds–43.74%
Invesco Core Plus Bond Fund, Class R6 7.26% 1,726,190 203,561 (133,691) 10,968 175,397 1,796,060
Invesco Floating Rate ESG Fund, Class R6 4.19% 991,922 54,960 (11,499) 9,719 143,803 1,035,383
Invesco High Yield Bond Factor ETF 5.10% 1,228,913 101,074 (68,771) 14,382 52,439 1,261,216
Invesco Income Fund, Class R6 1.84% 493,541 3,829 (24,296) (21,226) 3,246 3,829 60,118 455,094
Invesco Intermediate Bond Factor Fund, Class R6 3.55% 863,932 73,660 (60,325) 4,245 86,601 877,267
Invesco International Bond Fund, Class R6 2.12% 493,458 66,009 (34,585) 4,052 109,808 524,882
Invesco Short Duration Inflation Protected Fund, Class R6 4.11% 984,485 66,162 (14,785) (18,002) (574) 13,201 95,520 1,017,286
Invesco Taxable Municipal Bond ETF 10.87% 2,706,477 339,964 (77,669) (274,916) (6,169) 18,047 90,586 2,687,687
Invesco Variable Rate Investment Grade ETF 4.42% 1,107,752 16,890 (26,203) (5,828) 96 1,784 43,831 1,092,707
Invesco Variable Rate Preferred ETF 0.28% 74,255 (4,186) 820 2,867 70,069
Total Fixed Income Funds   10,596,670 1,000,364 (142,953) (633,029) (3,401) 81,047   10,817,651
Foreign Equity Funds–14.10%
Invesco EQV Emerging Markets All Cap Fund, Class R6 3.74% 985,018 105,369 (30,611) (129,026) (5,614) 28,439 925,136
Invesco Developing Markets Fund, Class R6 3.87% 986,155 153,199 (36,735) (137,691) (8,021) 24,146 956,907
Invesco International Small-Mid Company Fund, Class R6 1.44% 368,952 54,092 (66,507) 7,570 356,537
Invesco PureBetaSM FTSE Developed ex-North America ETF 0.74% 245,879 (49,371) (20,836) 7,916 1,472 6,715 183,588
Invesco RAFI™ Strategic Developed ex-US ETF 2.85% 738,383 (32,487) (10,239) 8,823 6,492 23,304 704,480
Invesco S&P International Developed Low Volatility ETF 1.46% 369,187 1,249 (9,056) 2,739 11,605 361,380
Total Foreign Equity Funds   3,693,574 313,909 (149,204) (373,355) 3,104 10,703   3,488,028
Money Market Funds–1.14%
Invesco Government & Agency Portfolio, Institutional Class, 0.25%(b) 0.40% 44 898,512 (800,088) 15 98,468 98,468
Invesco Liquid Assets Portfolio, Institutional Class, 0.25%(b) 0.28% 641,795 (571,468) (33) 8 70,315 70,294
Invesco Treasury Portfolio, Institutional Class, 0.16%(b) 0.46% 50 1,026,871 (914,386) 9 112,535 112,535
Total Money Market Funds   94 2,567,178 (2,285,942) (33) 32   281,297
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (excluding investments purchased with cash collateral from securities on loan)
(Cost $24,836,838)
99.85% 24,613,891 5,099,871 (3,355,129) (1,745,079) 78,385 110,068   24,691,939
See accompanying notes which are an integral part of this schedule.
Invesco Peak Retirement™ Funds

Schedule of Investments—(continued)
March 31, 2022
(Unaudited)
Invesco Peak Retirement™ 2025 Fund (continued)
Schedule of Investments in Affiliated Issuers–99.85%(a)
  % of
Net
Assets
03/31/22
Value
12/31/21
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain (Loss)
Dividend
Income
Shares
03/31/22
Value
03/31/22
Investments Purchased with Cash Collateral from Securities on Loan                  
Money Market Funds–0.00%
Invesco Private Government Fund, 0.31%(b) $$399,229 $(399,229) $$$1(c) $
Invesco Private Prime Fund, 0.34%(b) 469,970 (469,970) 12(c)
Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $0)
0.00% 869,199 (869,199) 13  
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (Cost $24,836,838)  99.85% $24,613,891 $5,969,070 $(4,224,328) $(1,745,079) $78,385 $110,081   $24,691,939
OTHER ASSETS LESS LIABILITIES 0.15%               36,376
NET ASSETS 100.00%               $24,728,315
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) The rate shown is the 7-day SEC standardized yield as of March 31, 2022.
(c) 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 Peak Retirement™ Funds

Schedule of Investments
March 31, 2022
(Unaudited)
Invesco Peak Retirement™ 2030 Fund
Schedule of Investments in Affiliated Issuers–99.92%(a)
  % of
Net
Assets
03/31/22
Value
12/31/21
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain (Loss)
Dividend
Income
Shares
03/31/22
Value
03/31/22
Alternative Funds–4.87%
Invesco Global Real Estate Income Fund, Class R6 2.95% $1,205,879 $6,602 $$(51,675) $$6,602 121,170 $1,160,806
Invesco Macro Allocation Strategy Fund, Class R6 1.92% 750,559 55,041 (47,138) 94,453 758,462
Total Alternative Funds   1,956,438 61,643 (98,813) 6,602   1,919,268
Domestic Equity Funds–43.04%
Invesco Discovery Mid Cap Growth Fund, Class R6 4.67% 2,075,781 284,576 (178,859) (352,159) 8,388 60,492 1,837,727
Invesco Main Street Small Cap Fund, Class R6 4.91% 2,074,596 38,790 (65,049) (110,009) (5,118) 96,036 1,933,210
Invesco PureBetaSM MSCI USA ETF(b) 5.95% 2,383,831 90,495 (130,683) 8,404 51,486 2,343,643
Invesco Russell 1000 Dynamic Multifactor ETF 11.39% 4,728,485 252,702 (225,167) (318,869) 47,673 11,367 94,219 4,484,824
Invesco S&P SmallCap Low Volatility ETF 0.76% 389,373 (72,803) (44,073) 26,243 1,264 6,093 298,740
Invesco U.S. Managed Volatility Fund, Class R6 15.36% 6,249,164 390,078 (183,291) (429,500) 19,814 435,924 6,046,265
Total Domestic Equity Funds   17,901,230 1,056,641 (725,169) (1,385,293) 97,000 21,035   16,944,409
Fixed Income Funds–34.49%
Invesco Core Plus Bond Fund, Class R6 4.01% 1,378,230 321,582 (120,060) 9,903 154,273 1,579,752
Invesco Floating Rate ESG Fund, Class R6 3.24% 1,146,365 145,492 (14,203) 11,966 177,452 1,277,654
Invesco High Yield Bond Factor ETF 4.06% 1,570,595 115,150 (88,343) 18,413 66,417 1,597,402
Invesco Income Fund, Class R6 1.97% 776,409 30,012 (30,572) 6,502 102,490 775,849
Invesco Intermediate Bond Factor Fund, Class R6 2.98% 1,188,787 65,930 (82,446) 5,775 115,723 1,172,271
Invesco International Bond Fund, Class R6 1.92% 777,511 30,849 (50,379) 5,921 158,573 757,981
Invesco Short Duration Inflation Protected Fund, Class R6 2.43% 759,760 213,185 (17,219) 12,402 89,739 955,726
Invesco Taxable Municipal Bond ETF 9.81% 3,814,823 520,247 (74,734) (393,751) (3,640) 25,406 130,197 3,862,945
Invesco Variable Rate Investment Grade ETF 4.07% 1,551,690 90,653 (33,278) (8,457) 47 2,635 64,206 1,600,655
Total Fixed Income Funds   12,964,170 1,533,100 (108,012) (805,430) (3,593) 98,923   13,580,235
Foreign Equity Funds–16.86%
Invesco EQV Emerging Markets All Cap Fund, Class R6 4.31% 1,795,416 175,792 (29,382) (240,462) (3,860) 52,183 1,697,504
Invesco Developing Markets Fund, Class R6 4.36% 1,698,746 286,956 (21,967) (242,139) (4,804) 43,321 1,716,792
Invesco International Select Equity Fund, Class R6 1.39% 793,839 (148,500) (69,186) (29,969) 50,855 546,184
Invesco International Small-Mid Company Fund, Class R6 1.37% 610,297 43,712 (6,333) (107,549) 22 11,468 540,149
Invesco PureBetaSM FTSE Developed ex-North America ETF(b) 0.94% 384,122 14,934 (27,396) 2,981 13,594 371,660
Invesco RAFI™ Strategic Developed ex-US ETF 3.00% 1,165,228 19,065 (3,933) 10,878 39,046 1,180,360
Invesco S&P International Developed Low Volatility ETF 1.49% 581,902 18,155 (14,718) 4,436 18,797 585,339
Total Foreign Equity Funds   7,029,550 558,614 (206,182) (705,383) (38,611) 18,295   6,637,988
Money Market Funds–0.66%
Invesco Government & Agency Portfolio, Institutional Class, 0.25%(c) 0.21% 133,179 703,913 (752,843) 14 84,249 84,249
Invesco Liquid Assets Portfolio, Institutional Class, 0.25%(c) 0.20% 112,440 502,795 (537,745) 1 (42) 10 77,472 77,449
Invesco Treasury Portfolio, Institutional Class, 0.16%(c) 0.25% 152,204 804,471 (860,391) 8 96,284 96,284
Total Money Market Funds   397,823 2,011,179 (2,150,979) 1 (42) 32   257,982
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (excluding investments purchased with cash collateral from securities on loan)
(Cost $39,456,554)
99.92% 40,249,211 5,221,177 (3,190,342) (2,994,918) 54,754 144,887   39,339,882
See accompanying notes which are an integral part of this schedule.
Invesco Peak Retirement™ Funds

Schedule of Investments—(continued)
March 31, 2022
(Unaudited)
Invesco Peak Retirement™ 2030 Fund (continued)
Schedule of Investments in Affiliated Issuers–99.92%(a)
  % of
Net
Assets
03/31/22
Value
12/31/21
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain (Loss)
Dividend
Income
Shares
03/31/22
Value
03/31/22
Investments Purchased with Cash Collateral from Securities on Loan                  
Money Market Funds–0.38%
Invesco Private Government Fund, 0.31%(c)(d) 0.11% $2,658 $579,369 $(538,255) $$$11(e) 43,772 $43,772
Invesco Private Prime Fund, 0.34%(c)(d) 0.27% 6,341 1,346,781 (1,248,404) 10 (2) 26(e) 104,736 104,726
Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $148,488)
0.38% 8,999 1,926,150 (1,786,659) 10 (2) 37   148,498
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (Cost $39,605,042)  100.30% $40,258,210 $7,147,327 $(4,977,001) $(2,994,908) $54,752 $144,924   $39,488,380
OTHER ASSETS LESS LIABILITIES (0.30)%               (117,828)
NET ASSETS 100.00%               $39,370,552
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, 2022.
(c) The rate shown is the 7-day SEC standardized yield as of March 31, 2022.
(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 Peak Retirement™ Funds

Schedule of Investments
March 31, 2022
(Unaudited)
Invesco Peak Retirement™ 2035 Fund
Schedule of Investments in Affiliated Issuers–99.86%(a)
  % of
Net
Assets
03/31/22
Value
12/31/21
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain (Loss)
Dividend
Income
Shares
03/31/22
Value
03/31/22
Alternative Funds–4.92%
Invesco Global Real Estate Income Fund, Class R6 2.94% $629,536 $43,366 $$(26,859) $$3,674 67,437 $646,043
Invesco Macro Allocation Strategy Fund, Class R6 1.98% 430,682 30,134 (25,018) 54,271 435,798
Total Alternative Funds   1,060,218 73,500 (51,877) 3,674   1,081,841
Domestic Equity Funds–49.54%
Invesco Discovery Mid Cap Growth Fund, Class R6 6.18% 1,433,670 241,013 (68,878) (248,924) 2,919 44,760 1,359,800
Invesco Main Street Small Cap Fund, Class R6 4.59% 992,003 88,013 (11,723) (57,790) 1,172 50,257 1,011,675
Invesco PureBetaSM MSCI USA ETF 6.78% 1,503,774 163,384 (97,669) (91,148) 13,486 5,350 32,773 1,491,827
Invesco Russell 1000 Dynamic Multifactor ETF 12.02% 2,631,685 302,678 (127,838) (172,444) 11,194 6,704 55,573 2,645,275
Invesco S&P SmallCap Low Volatility ETF 2.57% 645,395 46,130 (93,822) (62,050) 31,134 2,398 11,560 566,787
Invesco U.S. Managed Volatility Fund, Class R6 17.40% 3,842,374 380,652 (137,136) (269,444) 13,527 276,133 3,829,973
Total Domestic Equity Funds   11,048,901 1,221,870 (537,066) (901,800) 73,432 14,452   10,905,337
Fixed Income Funds–24.74%
Invesco Core Plus Bond Fund, Class R6 3.06% 643,001 78,794 (49,069) 4,042 65,696 672,726
Invesco Floating Rate ESG Fund, Class R6 1.36% 204,005 98,861 (3,440) 2,769 41,587 299,426
Invesco High Yield Bond Factor ETF 3.21% 644,373 98,645 (36,445) 7,762 29,378 706,573
Invesco Income Fund, Class R6 1.51% 307,053 38,531 (13,070) 2,776 43,925 332,514
Invesco Intermediate Bond Factor Fund, Class R6 2.55% 539,239 59,184 (36,959) 2,610 55,426 561,464
Invesco International Bond Fund, Class R6 1.59% 310,686 61,477 (21,175) 2,535 73,428 350,988
Invesco Short Duration Inflation Protected Fund, Class R6 1.55% 305,491 42,092 (6,234) 4,430 32,052 341,349
Invesco Taxable Municipal Bond ETF 6.70% 1,285,374 335,071 (146,202) 9,570 49,688 1,474,243
Invesco Variable Rate Investment Grade ETF 3.21% 628,079 81,117 (3,577) 1,117 28,304 705,619
Total Fixed Income Funds   4,867,301 893,772 (316,171) 37,611   5,444,902
Foreign Equity Funds–19.56%
Invesco EQV Emerging Markets All Cap Fund, Class R6 5.18% 1,172,252 164,967 (32,324) (163,213) (1,987) 35,035 1,139,695
Invesco Developing Markets Fund, Class R6 5.01% 1,137,371 193,722 (56,487) (163,854) (7,160) 27,847 1,103,592
Invesco International Select Equity Fund, Class R6 1.89% 427,096 57,410 (67,595) 38,819 416,911
Invesco International Small-Mid Company Fund, Class R6 1.86% 421,070 73,947 (11,054) (74,524) 14 8,693 409,453
Invesco PureBetaSM FTSE Developed ex-North America ETF 0.91% 212,280 1,422 (14,612) 1,597 7,282 199,090
Invesco RAFI™ Strategic Developed ex-US ETF 2.90% 630,201 10,247 (2,051) 5,828 21,118 638,397
Invesco S&P International Developed Low Volatility ETF 1.81% 417,450 (10,336) (10,544) 621 3,010 12,755 397,191
Total Foreign Equity Funds   4,417,720 501,715 (110,201) (496,393) (8,512) 10,435   4,304,329
Money Market Funds–1.10%
Invesco Government & Agency Portfolio, Institutional Class, 0.25%(b) 0.38% 106,048 694,048 (716,127) 8 83,969 83,969
Invesco Liquid Assets Portfolio, Institutional Class, 0.25%(b) 0.29% 80,014 495,749 (512,586) (20) 5 63,177 63,157
Invesco Treasury Portfolio, Institutional Class, 0.16%(b) 0.43% 121,198 793,198 (818,431) 5 95,965 95,965
Total Money Market Funds   307,260 1,982,995 (2,047,144) (20) 18   243,091
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (excluding investments purchased with cash collateral from securities on loan)
(Cost $21,972,756)
99.86% 21,701,400 4,673,852 (2,694,411) (1,766,241) 64,900 66,190   21,979,500
See accompanying notes which are an integral part of this schedule.
Invesco Peak Retirement™ Funds

Schedule of Investments—(continued)
March 31, 2022
(Unaudited)
Invesco Peak Retirement™ 2035 Fund (continued)
Schedule of Investments in Affiliated Issuers–99.86%(a)
  % of
Net
Assets
03/31/22
Value
12/31/21
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain (Loss)
Dividend
Income
Shares
03/31/22
Value
03/31/22
Investments Purchased with Cash Collateral from Securities on Loan                  
Money Market Funds–0.00%
Invesco Private Government Fund, 0.31%(b) $$600,047 $(600,047) $$$4(c) $
Invesco Private Prime Fund, 0.34%(b) 1,244,946 (1,244,946) 12(c)
Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $0)
0.00% 1,844,993 (1,844,993) 16  
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (Cost $21,972,756)  99.86% $21,701,400 $6,518,845 $(4,539,404) $(1,766,241) $64,900 $66,206   $21,979,500
OTHER ASSETS LESS LIABILITIES 0.14%               31,759
NET ASSETS 100.00%               $22,011,259
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) The rate shown is the 7-day SEC standardized yield as of March 31, 2022.
(c) 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 Peak Retirement™ Funds

Schedule of Investments
March 31, 2022
(Unaudited)
Invesco Peak Retirement™ 2040 Fund
Schedule of Investments in Affiliated Issuers–100.50%(a)
  % of
Net
Assets
03/31/22
Value
12/31/21
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain (Loss)
Dividend
Income
Shares
03/31/22
Value
03/31/22
Alternative Funds–2.57%
Invesco Global Real Estate Income Fund, Class R6 2.18% $504,635 $61,261 $$(23,041) $$3,087 56,665 $542,855
Invesco Macro Allocation Strategy Fund, Class R6 0.39% 101,523 (4,817) 12,043 96,706
Total Alternative Funds   504,635 162,784 (27,858) 3,087   639,561
Domestic Equity Funds–56.70%
Invesco Discovery Mid Cap Growth Fund, Class R6 8.48% 2,314,564 368,946 (178,898) (366,089) (26,170) 69,531 2,112,353
Invesco Main Street Small Cap Fund, Class R6 5.27% 1,405,895 185,459 (197,335) (79,306) (21) 65,310 1,314,692
Invesco PureBetaSM MSCI USA ETF 9.29% 2,518,932 184,834 (257,619) (195,518) 63,608 8,474 50,840 2,314,237
Invesco Russell 1000 Dynamic Multifactor ETF 13.11% 3,410,082 325,865 (254,632) (240,647) 25,454 8,366 68,616 3,266,122
Invesco S&P SmallCap Low Volatility ETF 2.89% 746,189 54,123 (36,350) (47,831) 3,482 3,199 14,677 719,613
Invesco U.S. Managed Volatility Fund, Class R6 17.66% 4,575,979 318,115 (183,594) (316,724) 8,026 317,362 4,401,802
Total Domestic Equity Funds   14,971,641 1,437,342 (1,108,428) (1,246,115) 74,379 20,039   14,128,819
Fixed Income Funds–16.39%
Invesco Core Plus Bond Fund, Class R6 1.35% 236,716 124,029 (25,061) 2,088 32,781 335,684
Invesco Floating Rate ESG Fund, Class R6 0.20% 51,513 (632) 454 7,067 50,881
Invesco High Yield Bond Factor ETF 2.14% 485,844 77,072 (29,487) 6,149 22,179 533,429
Invesco Income Fund, Class R6 1.09% 235,490 47,215 (10,687) 2,264 35,934 272,018
Invesco Intermediate Bond Factor Fund, Class R6 2.52% 616,955 57,317 (3,534) (42,406) (95) 2,974 62,017 628,237
Invesco International Bond Fund, Class R6 1.07% 250,019 33,314 (17,575) 2,067 55,598 265,758
Invesco Short Duration Inflation Protected Fund, Class R6 0.31% 77,307 (1,140) 988 7,152 76,167
Invesco Taxable Municipal Bond ETF 5.20% 1,251,557 251,926 (76,155) (125,955) (4,913) 8,513 43,696 1,296,460
Invesco Variable Rate Investment Grade ETF 2.51% 635,346 28,605 (34,811) (3,837) 440 1,061 25,100 625,743
Total Fixed Income Funds   3,711,927 748,298 (114,500) (256,780) (4,568) 26,558   4,084,377
Foreign Equity Funds–23.05%
Invesco EQV Emerging Markets All Cap Fund, Class R6 5.67% 1,472,347 231,667 (86,201) (189,016) (15,302) 43,452 1,413,495
Invesco Developing Markets Fund, Class R6 5.60% 1,481,885 169,946 (43,473) (214,712) 1,785 35,211 1,395,431
Invesco International Select Equity Fund, Class R6 2.35% 627,575 64,745 (12,230) (91,691) (2,847) 54,521 585,552
Invesco International Small-Mid Company Fund, Class R6 1.96% 509,130 72,447 (91,780) 10,399 489,797
Invesco PureBetaSM FTSE Developed ex-North America ETF 2.58% 750,491 27,257 (90,285) (63,039) 18,640 4,940 23,521 643,064
Invesco RAFI™ Strategic Developed ex-US ETF 2.89% 751,329 3,472 (32,496) (4,518) 2,019 6,935 23,811 719,806
Invesco S&P International Developed Low Volatility ETF 2.00% 490,770 21,467 (2,176) (12,669) 132 3,771 15,977 497,524
Total Foreign Equity Funds   6,083,527 591,001 (266,861) (667,425) 4,427 15,646   5,744,669
Money Market Funds–1.79%
Invesco Government & Agency Portfolio, Institutional Class, 0.25%(b) 0.63% 84,618 766,270 (694,578) 9 156,310 156,310
Invesco Liquid Assets Portfolio, Institutional Class, 0.25%(b) 0.45% 43,739 547,336 (479,425) (16) 4 111,668 111,634
Invesco Treasury Portfolio, Institutional Class, 0.16%(b) 0.71% 96,706 875,737 (793,803) 5 178,640 178,640
Total Money Market Funds   225,063 2,189,343 (1,967,806) (16) 18   446,584
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (excluding investments purchased with cash collateral from securities on loan)
(Cost $25,043,421)
100.50% 25,496,793 5,128,768 (3,457,595) (2,198,178) 74,222 65,348   25,044,010
See accompanying notes which are an integral part of this schedule.
Invesco Peak Retirement™ Funds

Schedule of Investments—(continued)
March 31, 2022
(Unaudited)
Invesco Peak Retirement™ 2040 Fund (continued)
Schedule of Investments in Affiliated Issuers–100.50%(a)
  % of
Net
Assets
03/31/22
Value
12/31/21
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain (Loss)
Dividend
Income
Shares
03/31/22
Value
03/31/22
Investments Purchased with Cash Collateral from Securities on Loan                  
Money Market Funds–0.00%
Invesco Private Government Fund, 0.31%(b) $$146,624 $(146,624) $$$3(c) $
Invesco Private Prime Fund, 0.34%(b) 342,122 (342,122) 4(c)
Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $0)
0.00% 488,746 (488,746) 7  
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (Cost $25,043,421)  100.50% $25,496,793 $5,617,514 $(3,946,341) $(2,198,178) $74,222 $65,355   $25,044,010
OTHER ASSETS LESS LIABILITIES (0.50)%               (125,719)
NET ASSETS 100.00%               $24,918,291
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) The rate shown is the 7-day SEC standardized yield as of March 31, 2022.
(c) 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 Peak Retirement™ Funds

Schedule of Investments
March 31, 2022
(Unaudited)
Invesco Peak Retirement™ 2045 Fund
Schedule of Investments in Affiliated Issuers–99.93%(a)
  % of
Net
Assets
03/31/22
Value
12/31/21
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain (Loss)
Dividend
Income
Shares
03/31/22
Value
03/31/22
Alternative Funds–0.37%
Invesco Global Real Estate Income Fund, Class R6 0.37% $$41,326 $$(1,000) $$229 4,209 $40,326
Domestic Equity Funds–62.38%
Invesco Discovery Mid Cap Growth Fund, Class R6 9.16% 946,495 265,079 (42,795) (155,430) (9,240) 33,052 1,004,109
Invesco Main Street Small Cap Fund, Class R6 5.73% 630,619 56,883 (24,812) (41,355) 6,648 31,196 627,983
Invesco PureBetaSM MSCI USA ETF 11.55% 1,250,754 150,050 (72,324) (76,239) 13,716 4,472 27,811 1,265,957
Invesco Russell 1000 Dynamic Multifactor ETF 16.20% 1,770,140 242,738 (136,767) (138,087) 37,266 4,498 37,296 1,775,290
Invesco S&P SmallCap Low Volatility ETF 2.85% 309,988 20,831 (17,910) 1,324 6,382 312,909
Invesco U.S. Managed Volatility Fund, Class R6 16.89% 1,767,488 215,584 (14,285) (118,638) 1,311 133,486 1,851,460
Total Domestic Equity Funds   6,675,484 951,165 (290,983) (547,659) 49,701 10,294   6,837,708
Fixed Income Funds–10.62%
Invesco Core Plus Bond Fund, Class R6 0.18% 20,925 (1,334) 118 1,913 19,591
Invesco High Yield Bond Factor ETF 1.51% 149,695 27,134 (2,339) (8,540) (69) 1,801 6,897 165,881
Invesco Income Fund, Class R6 0.19% 20,974 (771) 161 2,669 20,203
Invesco Intermediate Bond Factor Fund, Class R6 2.45% 260,448 27,574 (2,086) (17,161) (58) 1,219 26,527 268,717
Invesco International Bond Fund, Class R6 0.18% 20,969 (1,233) 146 4,129 19,736
Invesco Taxable Municipal Bond ETF 4.06% 412,461 81,208 (3,651) (44,777) (102) 2,867 15,003 445,139
Invesco Variable Rate Investment Grade ETF 2.05% 198,626 31,377 (3,885) (1,276) 151 350 9,025 224,993
Total Fixed Income Funds   1,021,230 230,161 (11,961) (75,092) (78) 6,662   1,164,260
Foreign Equity Funds–25.44%
Invesco EQV Emerging Markets All Cap Fund, Class R6 6.12% 653,355 124,843 (14,363) (90,775) (2,130) 20,625 670,930
Invesco Developing Markets Fund, Class R6 6.30% 645,975 151,591 (9,721) (96,127) (1,516) 17,416 690,202
Invesco International Select Equity Fund, Class R6 2.39% 253,368 47,534 (39,231) 24,364 261,671
Invesco International Small-Mid Company Fund, Class R6 1.86% 198,838 42,380 (36,819) 4,340 204,399
Invesco PureBetaSM FTSE Developed ex-North America ETF 3.81% 404,840 49,860 (10,146) (28,199) 1,127 3,190 15,270 417,482
Invesco RAFI™ Strategic Developed ex-US ETF 2.96% 312,751 22,497 (10,309) (1,841) 1,089 2,781 10,724 324,187
Invesco S&P International Developed Low Volatility ETF 2.00% 198,702 28,186 (2,511) (5,303) 120 1,522 7,039 219,194
Total Foreign Equity Funds   2,667,829 466,891 (47,050) (298,295) (1,310) 7,493   2,788,065
Money Market Funds–1.12%
Invesco Government & Agency Portfolio, Institutional Class, 0.25%(b) 0.39% 50,583 428,518 (436,169) 5 42,932 42,932
Invesco Liquid Assets Portfolio, Institutional Class, 0.25%(b) 0.28% 36,647 306,084 (312,062) 1 (13) 2 30,667 30,657
Invesco Treasury Portfolio, Institutional Class, 0.16%(b) 0.45% 57,809 489,735 (498,478) 3 49,066 49,066
Total Money Market Funds   145,039 1,224,337 (1,246,709) 1 (13) 10   122,655
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (excluding investments purchased with cash collateral from securities on loan)
(Cost $10,693,509)
99.93% 10,509,582 2,913,880 (1,596,703) (922,045) 48,300 24,688   10,953,014
Investments Purchased with Cash Collateral from Securities on Loan                  
Money Market Funds–0.00%
Invesco Private Government Fund, 0.31%(b) 370,663 (370,663) 3(c)
Invesco Private Prime Fund, 0.34%(b) 864,881 (864,881) 8(c)
Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $0)
0.00% 1,235,544 (1,235,544) 11  
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (Cost $10,693,509)  99.93% $10,509,582 $4,149,424 $(2,832,247) $(922,045) $48,300 $24,699   $10,953,014
OTHER ASSETS LESS LIABILITIES 0.07%               7,515
NET ASSETS 100.00%               $10,960,529
See accompanying notes which are an integral part of this schedule.
Invesco Peak Retirement™ Funds

Schedule of Investments—(continued)
March 31, 2022
(Unaudited)
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) The rate shown is the 7-day SEC standardized yield as of March 31, 2022.
(c) 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 Peak Retirement™ Funds

Schedule of Investments
March 31, 2022
(Unaudited)
Invesco Peak Retirement™ 2050 Fund
Schedule of Investments in Affiliated Issuers–100.46%(a)
  % of
Net
Assets
03/31/22
Value
12/31/21
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain (Loss)
Dividend
Income
Shares
03/31/22
Value
03/31/22
Domestic Equity Funds–66.91%
Invesco Discovery Mid Cap Growth Fund, Class R6 8.01% $1,504,027 $269,931 $$(265,284) $$49,660 $1,508,674
Invesco Main Street Small Cap Fund, Class R6 6.27% 1,156,101 118,018 (26,296) (68,432) 2,433 58,710 1,181,824
Invesco PureBetaSM MSCI USA ETF 14.48% 2,784,369 211,957 (127,080) (168,050) 26,909 9,781 59,932 2,728,105
Invesco Russell 1000 Dynamic Multifactor ETF 18.67% 3,526,641 339,207 (140,346) (237,328) 29,656 9,029 73,904 3,517,830
Invesco S&P SmallCap Low Volatility ETF 3.38% 639,665 44,065 (11,696) (40,030) 3,866 2,691 12,969 635,870
Invesco U.S. Managed Volatility Fund, Class R6 16.10% 2,970,457 265,531 (202,562) 218,704 3,033,426
Total Domestic Equity Funds   12,581,260 1,248,709 (305,418) (981,686) 62,864 21,501   12,605,729
Fixed Income Funds–5.84%
Invesco High Yield Bond Factor ETF 0.28% 55,954 (2,825) 612 2,209 53,129
Invesco Intermediate Bond Factor Fund, Class R6 1.96% 362,234 33,437 (25,878) 1,819 36,504 369,793
Invesco Taxable Municipal Bond ETF 2.42% 362,197 136,967 (44,026) 2,876 15,340 455,138
Invesco Variable Rate Investment Grade ETF 1.18% 180,532 43,296 (1,178) 364 8,931 222,650
Total Fixed Income Funds   904,963 269,654 (73,907) 5,671   1,100,710
Foreign Equity Funds–26.34%
Invesco EQV Emerging Markets All Cap Fund, Class R6 6.28% 1,205,045 146,929 (168,401) 36,384 1,183,573
Invesco Developing Markets Fund, Class R6 6.32% 1,200,482 177,350 (1,707) (184,924) (233) 30,052 1,190,968
Invesco International Select Equity Fund, Class R6 2.87% 547,693 82,474 (4,668) (83,702) (1,115) 50,343 540,682
Invesco International Small-Mid Company Fund, Class R6 2.00% 403,682 54,643 (7,389) (74,182) 133 8,002 376,887
Invesco PureBetaSM FTSE Developed ex-North America ETF 4.02% 743,859 62,664 (49,697) 5,558 27,682 756,826
Invesco RAFI™ Strategic Developed ex-US ETF 2.92% 558,464 (7,340) (2,399) 917 5,066 18,182 549,642
Invesco S&P International Developed Low Volatility ETF 1.93% 361,813 10,695 (9,136) 2,754 11,669 363,372
Total Foreign Equity Funds   5,021,038 534,755 (21,104) (572,441) (298) 13,378   4,961,950
Money Market Funds–1.37%
Invesco Government & Agency Portfolio, Institutional Class, 0.25%(b) 0.48% 73,058 574,747 (557,377) 7 90,428 90,428
Invesco Liquid Assets Portfolio, Institutional Class, 0.25%(b) 0.34% 53,163 410,533 (398,126) 1 (18) 4 65,573 65,553
Invesco Treasury Portfolio, Institutional Class, 0.16%(b) 0.55% 83,494 656,854 (637,002) 4 103,346 103,346
Total Money Market Funds   209,715 1,642,134 (1,592,505) 1 (18) 15   259,327
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (excluding investments purchased with cash collateral from securities on loan)
(Cost $18,562,183)
100.46% 18,716,976 3,695,252 (1,919,027) (1,628,033) 62,548 40,565   18,927,716
Investments Purchased with Cash Collateral from Securities on Loan                  
Money Market Funds–0.00%
Invesco Private Government Fund, 0.31%(b) 23,637 12,239 (35,876) 2(c)
Invesco Private Prime Fund, 0.34%(b) 55,153 3,011 (58,148) 5 (21) 10(c)
Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $0)
0.00% 78,790 15,250 (94,024) 5 (21) 12  
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (Cost $18,562,183)  100.46% $18,795,766 $3,710,502 $(2,013,051) $(1,628,028) $62,527 $40,577   $18,927,716
OTHER ASSETS LESS LIABILITIES (0.46)%               (87,559)
NET ASSETS 100.00%               $18,840,157
Investment Abbreviations:
ETF - Exchange-Traded Fund
See accompanying notes which are an integral part of this schedule.
Invesco Peak Retirement™ Funds

Schedule of Investments—(continued)
March 31, 2022
(Unaudited)
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) The rate shown is the 7-day SEC standardized yield as of March 31, 2022.
(c) 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 Peak Retirement™ Funds

Schedule of Investments
March 31, 2022
(Unaudited)
Invesco Peak Retirement™ 2055 Fund
Schedule of Investments in Affiliated Issuers–101.29%(a)
  % of
Net
Assets
03/31/22
Value
12/31/21
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain (Loss)
Dividend
Income
Shares
03/31/22
Value
03/31/22
Domestic Equity Funds–67.85%
Invesco Discovery Mid Cap Growth Fund, Class R6 8.20% $477,566 $123,939 $$(82,968) $$17,068 $518,537
Invesco Main Street Small Cap Fund, Class R6 6.15% 374,943 35,843 (1,195) (21,322) 411 19,309 388,680
Invesco PureBetaSM MSCI USA ETF 15.11% 901,330 127,746 (26,533) (50,565) 2,759 3,329 20,974 954,737
Invesco Russell 1000 Dynamic Multifactor ETF 19.11% 1,140,598 158,482 (21,207) (73,485) 3,605 3,015 25,378 1,207,993
Invesco S&P SmallCap Low Volatility ETF 3.40% 207,839 18,858 (12,142) 908 4,376 214,555
Invesco U.S. Managed Volatility Fund, Class R6 15.88% 959,066 112,387 (3,421) (64,748) 475 72,369 1,003,759
Total Domestic Equity Funds   4,061,342 577,255 (52,356) (305,230) 7,250 7,252   4,288,261
Fixed Income Funds–4.84%
Invesco Intermediate Bond Factor Fund, Class R6 1.91% 119,752 8,789 (8,013) 562 11,898 120,528
Invesco Taxable Municipal Bond ETF 1.98% 116,975 21,402 (1,103) (11,969) (38) 774 4,222 125,267
Invesco Variable Rate Investment Grade ETF 0.95% 56,084 4,135 (312) 98 2,403 59,907
Total Fixed Income Funds   292,811 34,326 (1,103) (20,294) (38) 1,434   305,702
Foreign Equity Funds–27.19%
Invesco EQV Emerging Markets All Cap Fund, Class R6 6.43% 385,532 76,087 (55,279) 12,491 406,340
Invesco Developing Markets Fund, Class R6 6.60% 388,876 87,725 (59,655) 10,521 416,946
Invesco International Select Equity Fund, Class R6 3.00% 179,510 38,358 (28,452) 17,637 189,416
Invesco International Small-Mid Company Fund, Class R6 2.29% 132,839 37,069 (24,964) 3,077 144,944
Invesco PureBetaSM FTSE Developed ex-North America ETF 4.05% 235,286 39,090 (1,454) (16,749) 112 1,868 9,374 256,285
Invesco RAFI™ Strategic Developed ex-US ETF 2.98% 177,978 11,054 (669) 1,635 6,231 188,363
Invesco S&P International Developed Low Volatility ETF 1.84% 119,413 (2,918) 883 3,741 116,495
Total Foreign Equity Funds   1,619,434 289,383 (1,454) (188,686) 112 4,386   1,718,789
Money Market Funds–1.41%
Invesco Government & Agency Portfolio, Institutional Class, 0.25%(b) 0.49% 33,196 172,277 (174,308) 3 31,165 31,165
Invesco Liquid Assets Portfolio, Institutional Class, 0.25%(b) 0.35% 23,712 123,054 (124,507) (6) 1 22,260 22,253
Invesco Treasury Portfolio, Institutional Class, 0.16%(b) 0.57% 37,939 196,887 (199,209) 2 35,617 35,617
Total Money Market Funds   94,847 492,218 (498,024) (6) 6   89,035
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (excluding investments purchased with cash collateral from securities on loan)
(Cost $6,141,412)
101.29% 6,068,434 1,393,182 (552,937) (514,210) 7,318 13,078   6,401,787
Investments Purchased with Cash Collateral from Securities on Loan                  
Money Market Funds–0.00%
Invesco Private Government Fund, 0.31%(b) 275,910 (275,910) 2(c)
Invesco Private Prime Fund, 0.34%(b) 643,790 (643,790) 6(c)
Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $0)
0.00% 919,700 (919,700) 8  
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (Cost $6,141,412)  101.29% $6,068,434 $2,312,882 $(1,472,637) $(514,210) $7,318 $13,086   $6,401,787
OTHER ASSETS LESS LIABILITIES (1.29)%               (81,545)
NET ASSETS 100.00%               $6,320,242
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) The rate shown is the 7-day SEC standardized yield as of March 31, 2022.
(c) 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.
See accompanying notes which are an integral part of this schedule.
Invesco Peak Retirement™ Funds

Schedule of Investments—(continued)
March 31, 2022
(Unaudited)
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 Peak Retirement™ Funds

Schedule of Investments
March 31, 2022
(Unaudited)
Invesco Peak Retirement™ 2060 Fund
Schedule of Investments in Affiliated Issuers–100.85%(a)
  % of
Net
Assets
03/31/22
Value
12/31/21
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain (Loss)
Dividend
Income
Shares
03/31/22
Value
03/31/22
Domestic Equity Funds–67.81%
Invesco Discovery Mid Cap Growth Fund, Class R6 8.01% $653,657 $106,874 $(4,330) $(110,635) $(14) $21,249 $645,552
Invesco Main Street Small Cap Fund, Class R6 6.31% 501,079 43,270 (8,178) (30,275) 2,784 25,270 508,680
Invesco PureBetaSM MSCI USA ETF 14.97% 1,197,089 90,370 (18,370) (65,302) 3,449 4,329 26,521 1,207,236
Invesco Russell 1000 Dynamic Multifactor ETF 19.02% 1,504,217 133,482 (12,745) (93,452) 2,360 3,888 32,224 1,533,862
Invesco S&P SmallCap Low Volatility ETF 3.49% 274,150 26,277 (2,276) (17,187) 762 1,132 5,746 281,726
Invesco U.S. Managed Volatility Fund, Class R6 16.01% 1,271,352 111,029 (6,111) (85,391) 548 93,110 1,291,427
Total Domestic Equity Funds   5,401,544 511,302 (52,010) (402,242) 9,889 9,349   5,468,483
Fixed Income Funds–4.84%
Invesco Intermediate Bond Factor Fund, Class R6 1.98% 151,843 20,993 (2,439) (10,234) (68) 730 15,804 160,095
Invesco Taxable Municipal Bond ETF 1.90% 151,781 18,977 (2,063) (15,761) (74) 1,007 5,152 152,860
Invesco Variable Rate Investment Grade ETF 0.96% 75,857 3,585 (1,728) (409) 3 126 3,101 77,308
Total Fixed Income Funds   379,481 43,555 (6,230) (26,404) (139) 1,863   390,263
Foreign Equity Funds–27.13%
Invesco EQV Emerging Markets All Cap Fund, Class R6 6.52% 518,140 82,614 (2,731) (72,046) (443) 16,155 525,534
Invesco Developing Markets Fund, Class R6 6.52% 513,027 92,354 (79,829) 13,262 525,552
Invesco International Select Equity Fund, Class R6 2.96% 238,843 40,235 (2,304) (37,245) (609) 22,246 238,920
Invesco International Small-Mid Company Fund, Class R6 2.19% 169,327 41,023 (1,721) (31,716) (86) 3,754 176,827
Invesco PureBetaSM FTSE Developed ex-North America ETF 4.05% 310,760 41,988 (5,148) (21,169) 227 2,504 11,948 326,658
Invesco RAFI™ Strategic Developed ex-US ETF 3.00% 237,709 16,145 (11,974) (1,534) 1,222 2,076 7,991 241,568
Invesco S&P International Developed Low Volatility ETF 1.89% 151,652 6,948 (2,256) (3,958) 107 1,156 4,897 152,493
Total Foreign Equity Funds   2,139,458 321,307 (26,134) (247,497) 418 5,736   2,187,552
Money Market Funds–1.07%
Invesco Government & Agency Portfolio, Institutional Class, 0.25%(b) 0.38% 36,215 222,063 (227,351) 4 30,927 30,927
Invesco Liquid Assets Portfolio, Institutional Class, 0.25%(b) 0.25% 23,461 158,616 (162,393) (8) 2 19,681 19,676
Invesco Treasury Portfolio, Institutional Class, 0.16%(b) 0.44% 41,389 253,786 (259,829) 2 35,346 35,346
Total Money Market Funds   101,065 634,465 (649,573) (8) 8   85,949
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (excluding investments purchased with cash collateral from securities on loan)
(Cost $7,705,139)
100.85% 8,021,548 1,510,629 (733,947) (676,143) 10,160 16,956   8,132,247
Investments Purchased with Cash Collateral from Securities on Loan                  
Money Market Funds–0.00%
Invesco Private Government Fund, 0.31%(b) 358,774 (358,774) 3(c)
Invesco Private Prime Fund, 0.34%(b) 837,141 (837,141) 8(c)
Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $0)
0.00% 1,195,915 (1,195,915) 11  
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (Cost $7,705,139)  100.85% $8,021,548 $2,706,544 $(1,929,862) $(676,143) $10,160 $16,967   $8,132,247
OTHER ASSETS LESS LIABILITIES (0.85)%               (68,245)
NET ASSETS 100.00%               $8,064,002
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) The rate shown is the 7-day SEC standardized yield as of March 31, 2022.
(c) 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.
See accompanying notes which are an integral part of this schedule.
Invesco Peak Retirement™ Funds

Schedule of Investments—(continued)
March 31, 2022
(Unaudited)
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 Peak Retirement™ Funds

Schedule of Investments
March 31, 2022
(Unaudited)
Invesco Peak Retirement™ 2065 Fund
Schedule of Investments in Affiliated Issuers–100.73%(a)
  % of
Net
Assets
03/31/22
Value
12/31/21
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain (Loss)
Dividend
Income
Shares
03/31/22
Value
03/31/22
Domestic Equity Funds–67.70%
Invesco Discovery Mid Cap Growth Fund, Class R6 7.95% $468,662 $140,932 $$(81,773) $$17,374 $527,821
Invesco Main Street Small Cap Fund, Class R6 6.22% 366,309 68,543 (21,779) 20,520 413,073
Invesco PureBetaSM MSCI USA ETF 15.10% 880,586 185,000 (21,775) (44,872) 3,366 3,530 22,019 1,002,305
Invesco Russell 1000 Dynamic Multifactor ETF 19.01% 1,114,386 216,941 (4,475) (65,516) 826 3,109 26,516 1,262,162
Invesco S&P SmallCap Low Volatility ETF 3.48% 205,547 37,323 (12,282) 914 4,703 230,588
Invesco U.S. Managed Volatility Fund, Class R6 15.94% 936,993 189,566 (5,219) (63,659) 625 76,302 1,058,306
Total Domestic Equity Funds   3,972,483 838,305 (31,469) (289,881) 4,817 7,553   4,494,255
Fixed Income Funds–4.91%
Invesco Intermediate Bond Factor Fund, Class R6 2.03% 117,773 25,117 (8,054) 570 13,310 134,836
Invesco Taxable Municipal Bond ETF 2.00% 117,404 27,983 (12,347) 803 4,484 133,040
Invesco Variable Rate Investment Grade ETF 0.88% 58,716 (305) 95 2,343 58,411
Total Fixed Income Funds   293,893 53,100 (20,706) 1,468   326,287
Foreign Equity Funds–27.22%
Invesco EQV Emerging Markets All Cap Fund, Class R6 6.60% 381,932 113,210 (56,617) 13,481 438,525
Invesco Developing Markets Fund, Class R6 6.67% 382,309 121,036 (60,629) 11,171 442,716
Invesco International Select Equity Fund, Class R6 2.90% 176,022 44,072 (27,807) 17,904 192,287
Invesco International Small-Mid Company Fund, Class R6 2.28% 132,031 44,081 (24,724) 3,214 151,388
Invesco PureBetaSM FTSE Developed ex-North America ETF 3.89% 234,640 38,820 (15,316) 2,070 9,442 258,144
Invesco RAFI™ Strategic Developed ex-US ETF 2.89% 176,159 15,267 202 1,766 6,339 191,628
Invesco S&P International Developed Low Volatility ETF 1.99% 117,466 17,751 (2,810) 920 4,252 132,407
Total Foreign Equity Funds   1,600,559 394,237 (187,701) 4,756   1,807,095
Money Market Funds–0.90%
Invesco Government & Agency Portfolio, Institutional Class, 0.25%(b) 0.26% 323,104 (305,666) 3 17,438 17,438
Invesco Liquid Assets Portfolio, Institutional Class, 0.25%(b) 0.34% 9,691 230,789 (218,333) (12) 3 22,142 22,135
Invesco Treasury Portfolio, Institutional Class, 0.16%(b) 0.30% 369,261 (349,332) 1 19,929 19,929
Total Money Market Funds   9,691 923,154 (873,331) (12) 7   59,502
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (excluding investments purchased with cash collateral from securities on loan)
(Cost $6,447,486)
100.73% 5,876,626 2,208,796 (904,800) (498,288) 4,805 13,784   6,687,139
Investments Purchased with Cash Collateral from Securities on Loan                  
Money Market Funds–0.00%
Invesco Private Government Fund, 0.31%(b) 292,527 (292,527) 3(c)
Invesco Private Prime Fund, 0.34%(b) 682,562 (682,562) 6(c)
Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $0)
0.00% 975,089 (975,089) 9  
TOTAL INVESTMENTS IN AFFILIATED ISSUERS (Cost $6,447,486)  100.73% $5,876,626 $3,183,885 $(1,879,889) $(498,288) $4,805 $13,793   $6,687,139
OTHER ASSETS LESS LIABILITIES (0.73)%               (48,547)
NET ASSETS 100.00%               $6,638,592
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) The rate shown is the 7-day SEC standardized yield as of March 31, 2022.
(c) 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.
See accompanying notes which are an integral part of this schedule.
Invesco Peak Retirement™ Funds

Schedule of Investments—(continued)
March 31, 2022
(Unaudited)
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 Peak Retirement™ Funds

Notes to Quarterly Schedule of Portfolio Holdings
March 31, 2022
(Unaudited)
NOTE 1—Additional Valuation Information
Generally Accepted Accounting Principles ("GAAP") defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available or are unreliable. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment’s assigned level:
Level 1 — Prices are determined using quoted prices in an active market for identical assets.
Level 2 — Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.
Level 3 — Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect each Fund’s own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.
Except for the Funds listed below, as of March 31, 2022, all of the securities in each Fund were valued based on Level 1 inputs (see the Schedules of Investments for security categories). 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.
Invesco Peak Retirement™ Destination Fund Level 1 Level 2 Level 3 Total
Investments in Securities        
Affiliated Issuers $4,712,690 $$— $4,712,690
Money Market Funds 246,580 63,389 309,969
Total Investments $4,959,270 $63,389 $— $5,022,659
Invesco Peak Retirement™ 2030 Fund Level 1 Level 2 Level 3 Total
Investments in Securities        
Affiliated Issuers $39,081,900 $$— $39,081,900
Money Market Funds 257,982 148,498 406,480
Total Investments $39,339,882 $148,498 $— $39,488,380
Invesco Peak RetirementTM Funds


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