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Invesco Bond Fund

01/11/2024 | Press release | Distributed by Public on 01/11/2024 20:00

Semi Annual Report by Investment Company Form N CSRS

N-CSRS

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM

N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number

811-02090

Invesco Bond Fund

(Exact name of registrant as specified in charter)

1555 Peachtree Street, N.E., Suite 1800 Atlanta, Georgia 30309

(Address of principal executive offices) (Zip code)

Glenn Brightman 1555 Peachtree Street, N.E., Suite 1800 Atlanta, Georgia 30309

(Name and address of agent for service)

Registrant's telephone number, including area code: (713)

626-1919

Date of fiscal year end: February 28

Date of reporting period: August 31, 2024

Item 1. Reports to Stockholders

(a) The Registrant's semi-annual report transmitted to shareholders pursuant to Rule

30e-1

under the Investment Company Act of 1940 is as follows:



Semi-Annual Report to Shareholders		August 31, 2024

Invesco Bond Fund

NYSE:

VBF



2		Fund Performance

2		Share Repurchase Program Notice

3		Dividend Reinvestment Plan

4		Schedule of Investments

22		Financial Statements

25		Financial Highlights

26		Notes to Financial Statements

32		Approval of Investment Advisory and Sub-Advisory Contracts

34		Proxy Results

Unless otherwise noted, all data is provided by Invesco.

NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE

Fund Performance




Performance summary
Cumulative total returns, 2/29/24 to 8/31/24
Fund at NAV	5.91	%
Fund at Market Value	8.66
Bloomberg Baa U.S. Corporate Bond Index ▼ (Broad Market/Style-Specific Index)	5.47
Market Price Premium to NAV as of 8/31/24	0.12

Source(s): ▼ RIMES Technologies Corp.

The performance data quoted represent past performance and cannot guarantee future results; current performance may be lower or higher. Investment return, net asset value (NAV) and share market price will fluctuate so that you may have a gain or loss when you sell shares. Please visit invesco.com/us for the most recent month-end performance. Performance figures reflect Fund expenses, the reinvestment of distributions (if any) and changes in NAV for performance based on NAV and changes in market price for performance based on market price. Since the Fund is a closed-end management investment company, shares of the Fund may trade at a discount or premium from the NAV. This characteristic is separate and distinct from the risk that NAV could decrease as a result of investment activities and may be a greater risk to investors expecting to sell their shares after a short time. The Fund cannot predict whether shares will trade at, above or below NAV. The Fund should not be viewed as a vehicle for trading purposes. It is designed primarily for risk-tolerant long-term investors. The Bloomberg Baa U.S. Corporate Bond Index measures the Baa-rated, fixed-rate, taxable corporate bond market. The Fund is not managed to track the performance of any particular index, including the index(es) described here, and consequently, the performance of the Fund may deviate significantly from the performance of the index(es). A direct investment cannot be made in an index. Unless otherwise indicated, index results include reinvested dividends, and they do not reflect sales charges. Performance of the peer group, if applicable, reflects fund expenses; performance of a market index does not.

Important Notice Regarding Share Repurchase Program

In September 2024, the Board of Trustees of the Fund approved a share repurchase program that allows the Fund to repurchase up to 25% of the 20-day average trading volume

of the Fund's common shares when the Fund is trading at a 10% or greater discount to its net asset value. The Fund will repurchase

shares pursuant to this program if the Adviser reasonably believes that such repurchases may enhance shareholder value.


2		Invesco Bond Fund

Dividend Reinvestment Plan

The dividend reinvestment plan (the Plan) offers you a prompt and simple way to reinvest your dividends and capital gains distributions (Distributions) into additional shares of your Invesco closed-end Fund (the Fund). Under the Plan, the money you earn from Distributions will be reinvested automatically in more shares of the Fund, allowing you to potentially increase your investment over time. All shareholders in the Fund are automatically enrolled in the Plan when shares are purchased.

Plan benefits

∎	Add to your account:

You may increase your shares in your Fund easily and automatically with the Plan.

∎	Low transaction costs:

Shareholders who participate in the Plan may be able to buy shares at below-market prices when the Fund is trading at a premium to its net asset value (NAV). In addition , transaction costs are low because when new shares are issued by the Fund, there is no brokerage fee, and when shares are bought in blocks on the open market, the per share fee is shared among all participants.

∎	Convenience:

You will receive a detailed account statement from Computershare Trust Company, N.A. (the Agent), which administers the Plan. The statement shows your total Distributions, date of investment, shares acquired, and price per share, as well as the total number of shares in your reinvestment account. You can also access your account at invesco.com/closed-end.

∎	Safekeeping:

The Agent will hold the shares it has acquired for you in safekeeping.

Who can participate in the Plan

If you own shares in your own name, your purchase will automatically enroll you in the Plan. If your shares are held in "street name" - in the name of your brokerage firm, bank, or other financial institution - you must instruct that entity to participate on your behalf. If they are unable to participate on your behalf, you may request that they reregister your shares in your own name so that you may enroll in the Plan.

How to enroll

If you haven't participated in the Plan in the past or chose to opt out, you are still eligible to participate. Enroll by visiting invesco.com/closed-end, by calling toll-free 800 341 2929 or by notifying us in writing at Invesco Closed-End Funds, Computer-share Trust Company, N.A., P.O. Box 43078, Providence, RI 02940-3078. If you are writing to us, please include the Fund name and account number and ensure that all shareholders listed on the account sign these written instructions. Your participation in the Plan will begin with the next Distribution payable after the Agent receives your authorization, as long as they receive it before the "record date," which is generally 10 business days before the Distribution is paid. If your authorization arrives after such record date, your participation in the Plan will begin with the following Distribution.

How the Plan works

If you choose to participate in the Plan, your Distributions will be promptly reinvested for you, automatically increasing your shares. If the Fund is trading at a share price that is equal to its NAV, you'll pay that amount for your reinvested shares. However, if the Fund is trading above or below NAV, the price is determined by one of two ways:

Premium: If the Fund is trading at a premium - a market price that is higher than its NAV -you'll pay either the NAV or 95 percent of

the market price, whichever is greater. When the Fund trades at a premium, you may pay less for your reinvested shares than an investor purchasing shares on the stock exchange. Keep in mind, a portion of your price reduction may be taxable because you are receiving shares at less than market price.

Discount: If the Fund is trading at a discount - a market price that is lower than its NAV - you'll pay the market price for your reinvested shares.

Costs of the Plan

There is no direct charge to you for reinvesting Distributions because the Plan's fees are paid by the Fund. If the Fund is trading at or above its NAV, your new shares are issued directly by the Fund and there are no brokerage charges or fees. However, if the Fund is trading at a discount , the shares are purchased on the open market, and you will pay your portion of any per share fees. These per share fees are typically less than the standard brokerage charges for individual transactions because shares are purchased for all participants in blocks, resulting in lower fees for each individual participant. Any service or per share fees are added to the purchase price. Per share fees include any applicable brokerage commissions the Agent is required to pay.

Tax implications

The automatic reinvestment of Distributions does not relieve you of any income tax that may be due on Distributions. You will receive tax information annually to help you prepare your federal income tax return.

Invesco does not offer tax advice. The tax information contained herein is general and is not exhaustive by nature. It was not intended or written to be used, and it cannot be used, by any taxpayer for avoiding penalties that may be imposed on the taxpayer under US federal tax laws. Federal and state tax laws are complex and constantly changing. Shareholders should always consult a legal or tax adviser for information concerning their individual situation.

How to withdraw from the Plan

You may withdraw from the Plan at any time by calling 800 341 2929, by visiting invesco.com/ closed-end or by writing to Invesco Closed-End Funds, Computershare Trust Company, N.A., P.O. Box 43078, Providence, RI 02940-3078. Simply indicate that you would like to withdraw from the Plan, and be sure to include your Fund name and account number. Also, ensure that all shareholders listed on the account sign these written instructions. If you withdraw, you have three options with regard to the shares held in the Plan:

If you opt to continue to hold your non-certificated whole shares (Investment Plan Book Shares), they will be held by the Agent electronically as Direct Registration Book-Shares (Book-Entry Shares) and fractional shares will be sold at the then-current market price. Proceeds will be sent via check to your address of record after deducting applicable fees, including per share fees such as any applicable brokerage commissions the Agent is required to pay.

If you opt to sell your shares through the Agent, we will sell all full and fractional shares and send the proceeds via check to your address of record after deducting $2.50 per account and a brokerage charge.

You may sell your shares through your financial adviser through the Direct Registration System (DRS). DRS is a service within the securities industry that allows Fund shares to be held in your name in electronic format. You retain full ownership of your shares, without having to hold a share certificate. You should contact your financial adviser to learn more about any restrictions or fees that may apply.

The Fund and Computershare Trust Company, N.A. may amend or terminate the Plan at any time. Participants will receive at least 30 days written notice before the effective date of any amendment. In the case of termination, Participants will receive at least 30 days written notice before the record date for the payment of any such Distributions by the Fund. In the case of amendment or termination necessary or appropriate to comply with applicable law or the rules and policies of the Securities and Exchange Commission or any other regulatory authority, such written notice will not be required.

To obtain a complete copy of the current Dividend Reinvestment Plan, please call our Client Services department at 800 341 2929 or visit invesco.com/closed-end.


3		Invesco Bond Fund

Schedule of Investments

(a)

August 31, 2024

(Unaudited)


	Principal Amount		Value
U.S. Dollar Denominated Bonds & Notes-89.68%
Advertising-0.18%
Clear Channel Outdoor Holdings, Inc., 5.13%, 08/15/2027 (b)	$	94,000		$ 91,906
Interpublic Group of Cos., Inc. (The), 4.75%, 03/30/2030		256,000		257,673
				349,579

Aerospace & Defense-1.63%
BAE Systems PLC (United Kingdom),
5.13%, 03/26/2029 (b)		200,000		204,216
5.50%, 03/26/2054 (b)		200,000		204,166
Boeing Co. (The),
6.30%, 05/01/2029 (b)		78,000		81,494
6.53%, 05/01/2034 (b)		95,000		100,678
5.93%, 05/01/2060		291,000		275,182
Howmet Aerospace, Inc., 4.85%, 10/15/2031		33,000		33,417
L3Harris Technologies, Inc.,
5.40%, 07/31/2033		68,000		70,136
5.60%, 07/31/2053		62,000		63,976
Lockheed Martin Corp.,
4.45%, 05/15/2028		64,000		64,626
4.75%, 02/15/2034		124,000		125,677
4.80%, 08/15/2034		5,000		5,078
4.15%, 06/15/2053		57,000		48,857
4.30%, 06/15/2062		69,000		59,275
5.90%, 11/15/2063		95,000		106,462
Northrop Grumman Corp., 4.95%, 03/15/2053		50,000		47,623
RTX Corp.,
5.75%, 01/15/2029		144,000		151,285
6.00%, 03/15/2031		66,000		70,965
5.15%, 02/27/2033		216,000		221,557
6.10%, 03/15/2034		171,000		186,258
6.40%, 03/15/2054		126,000		144,736
TransDigm, Inc.,
6.75%, 08/15/2028 (b)		216,000		222,350
6.38%, 03/01/2029 (b)		190,000		196,044
7.13%, 12/01/2031 (b)		44,000		46,520
6.63%, 03/01/2032 (b)		350,000		364,427
				3,095,005

Agricultural & Farm Machinery-0.33%
AGCO Corp.,
5.45%, 03/21/2027		31,000		31,484
5.80%, 03/21/2034		119,000		122,472
John Deere Capital Corp.,
4.70%, 06/10/2030		268,000		273,957
5.10%, 04/11/2034		197,000		203,669
				631,582

Agricultural Products & Services-0.04%
Cargill, Inc., 4.75%, 04/24/2033 (b)		71,000		71,051


	Principal Amount		Value
Air Freight & Logistics-0.46%
GXO Logistics, Inc.,
6.25%, 05/06/2029	$	209,000		$ 218,159
6.50%, 05/06/2034		145,000		150,758
United Parcel Service, Inc.,
5.15%, 05/22/2034		137,000		142,120
5.50%, 05/22/2054		237,000		246,757
5.60%, 05/22/2064		110,000		114,908
				872,702

Airport Services-0.21%
Mexico City Airport Trust (Mexico), 5.50%, 07/31/2047 (b)		468,000		403,967

Aluminum-0.05%
Novelis Corp., 4.75%, 01/30/2030 (b)		96,000		91,776

Apparel Retail-0.09%
Gap, Inc. (The), 3.88%, 10/01/2031 (b)		107,000		92,531
Victoria's Secret & Co., 4.63%, 07/15/2029 (b)		100,000		87,240
				179,771

Application Software-0.24%
Cloud Software Group, Inc., 6.50%, 03/31/2029 (b)		65,000		64,119
Intuit, Inc., 5.20%, 09/15/2033		205,000		213,702
SS&C Technologies, Inc.,
5.50%, 09/30/2027 (b)		40,000		39,993
6.50%, 06/01/2032 (b)		133,000		137,385
				455,199

Asset Management & Custody Banks-2.04%
Affiliated Managers Group, Inc., 5.50%, 08/20/2034		444,000		440,686
Ameriprise Financial, Inc.,
5.70%, 12/15/2028		199,000		209,279
4.50%, 05/13/2032		65,000		64,469
5.15%, 05/15/2033		249,000		256,472
Apollo Management Holdings L.P., 4.95%, 01/14/2050 (b)(c)		30,000		29,925
Ares Capital Corp.,
5.88%, 03/01/2029		4,000		4,069
5.95%, 07/15/2029		131,000		133,547
Bank of New York Mellon Corp. (The),
4.89%, 07/21/2028 (c)		305,000		308,433
4.54%, 02/01/2029 (c)		133,000		133,696
5.06%, 07/22/2032 (c)		179,000		183,028
5.83%, 10/25/2033 (c)		112,000		119,361
5.61%, 07/21/2039 (c)		153,000		158,644
Series J, 4.97%, 04/26/2034 (c)		113,000		114,001
BlackRock, Inc., 4.75%, 05/25/2033		230,000		233,055
Blackstone Secured Lending Fund,
2.13%, 02/15/2027		302,000		279,823
5.88%, 11/15/2027		155,000		156,756
Carlyle Holdings II Finance LLC, 5.63%, 03/30/2043 (b)		29,000		28,726

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


4		Invesco Bond Fund


	Principal Amount		Value
Asset Management & Custody Banks-(continued)
State Street Corp.,
5.68%, 11/21/2029 (c)	$	261,000		$ 273,484
6.12%, 11/21/2034 (c)		191,000		205,170
Series J, 6.70% (c)(d)		537,000		552,486
				3,885,110

Automobile Manufacturers-1.17%
Allison Transmission, Inc., 3.75%, 01/30/2031 (b)		306,000		278,375
American Honda Finance Corp., 4.90%, 01/10/2034		3,000		3,028
Ford Motor Credit Co. LLC,
6.95%, 06/10/2026		335,000		344,369
7.35%, 11/04/2027		7,000		7,406
7.20%, 06/10/2030		135,000		145,390
7.12%, 11/07/2033		204,000		220,546
Hyundai Capital America,
5.50%, 03/30/2026 (b)		104,000		105,087
5.60%, 03/30/2028 (b)		6,000		6,158
5.35%, 03/19/2029 (b)		2,000		2,044
Mercedes-Benz Finance North America LLC (Germany),
5.00%, 01/11/2034 (b)		150,000		150,834
5.13%, 08/01/2034 (b)		396,000		399,931
Toyota Motor Credit Corp., 4.55%, 08/09/2029		3,000		3,026
Volkswagen Group of America Finance LLC (Germany),
5.25%, 03/22/2029 (b)		255,000		259,579
5.60%, 03/22/2034 (b)		300,000		308,416
				2,234,189

Automotive Parts & Equipment-1.16%
Cougar JV Subsidiary LLC, 8.00%, 05/15/2032 (b)		130,000		137,228
ERAC USA Finance LLC,
4.60%, 05/01/2028 (b)		142,000		142,646
5.00%, 02/15/2029 (b)		130,000		133,328
4.90%, 05/01/2033 (b)		229,000		230,598
5.20%, 10/30/2034 (b)		229,000		234,569
NESCO Holdings II, Inc., 5.50%, 04/15/2029 (b)		100,000		92,418
Phinia, Inc., 6.75%, 04/15/2029 (b)		133,000		136,646
ZF North America Capital, Inc. (Germany),
6.88%, 04/14/2028 (b)		339,000		350,523
7.13%, 04/14/2030 (b)		318,000		333,552
6.75%, 04/23/2030 (b)		154,000		158,427
6.88%, 04/23/2032 (b)		247,000		256,819
				2,206,754

Automotive Retail-0.65%
Advance Auto Parts, Inc., 5.95%, 03/09/2028		121,000		122,482
Asbury Automotive Group, Inc., 4.63%, 11/15/2029 (b)		71,000		67,676
AutoZone, Inc.,
4.75%, 08/01/2032		95,000		94,580
5.20%, 08/01/2033		128,000		130,143
Group 1 Automotive, Inc., 6.38%, 01/15/2030 (b)		92,000		93,823
LCM Investments Holdings II LLC, 8.25%, 08/01/2031 (b)		176,000		187,587


	Principal Amount		Value
Automotive Retail-(continued)
Lithia Motors, Inc., 3.88%, 06/01/2029 (b)	$	201,000		$ 186,606
O'Reilly Automotive, Inc., 5.00%, 08/19/2034		267,000		266,591
Velocity Vehicle Group LLC, 8.00%, 06/01/2029 (b)		89,000		92,684
				1,242,172

Biotechnology-0.70%
AbbVie, Inc.,
4.80%, 03/15/2029		211,000		215,620
5.35%, 03/15/2044		106,000		109,421
5.50%, 03/15/2064		204,000		211,996
Amgen, Inc.,
5.25%, 03/02/2030		78,000		80,819
5.75%, 03/02/2063		435,000		446,497
Gilead Sciences, Inc.,
5.25%, 10/15/2033		169,000		176,123
5.55%, 10/15/2053		88,000		91,510
				1,331,986

Broadcasting-0.06%
AMC Networks, Inc., 10.25%, 01/15/2029 (b)		10,000		10,059
Gray Television, Inc.,
7.00%, 05/15/2027 (b)		8,000		7,723
10.50%, 07/15/2029 (b)		17,000		17,464
4.75%, 10/15/2030 (b)		14,000		7,985
5.38%, 11/15/2031 (b)		16,000		9,178
Paramount Global, 6.38%, 03/30/2062 (c)		10,000		9,150
Sinclair Television Group, Inc., 4.13%, 12/01/2030 (b)		12,000		8,479
TEGNA, Inc.,
4.63%, 03/15/2028		10,000		9,437
5.00%, 09/15/2029		10,000		9,296
Univision Communications, Inc.,
6.63%, 06/01/2027 (b)		18,000		17,833
4.50%, 05/01/2029 (b)		10,000		8,787
				115,391

Broadline Retail-0.11%
Kohl's Corp., 4.63%, 05/01/2031		106,000		87,701
Macy's Retail Holdings LLC,
5.88%, 03/15/2030 (b)		68,000		66,003
6.13%, 03/15/2032 (b)		7,000		6,702
6.70%, 07/15/2034 (b)		30,000		26,284
Nordstrom, Inc., 5.00%, 01/15/2044		23,000		18,266
				204,956

Building Products-0.12%
Carrier Global Corp., 5.90%, 03/15/2034		42,000		45,335
Lennox International, Inc., 5.50%, 09/15/2028		173,000		178,677
				224,012

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


5		Invesco Bond Fund


	Principal Amount		Value
Cable & Satellite-0.92%
CCO Holdings LLC/CCO Holdings Capital Corp.,
5.13%, 05/01/2027 (b)	$	4,000		$ 3,923
6.38%, 09/01/2029 (b)		66,000		65,246
7.38%, 03/01/2031 (b)		186,000		189,440
4.50%, 05/01/2032		173,000		147,883
4.25%, 01/15/2034 (b)		110,000		88,801
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp.,
6.65%, 02/01/2034		278,000		289,798
5.38%, 04/01/2038		42,000		38,243
5.75%, 04/01/2048		157,000		136,401
Comcast Corp., 5.50%, 11/15/2032		248,000		261,948
Cox Communications, Inc., 5.80%, 12/15/2053 (b)		197,000		192,209
Directv Financing LLC, 8.88%, 02/01/2030 (b)		18,000		18,280
Directv Financing LLC/Directv Financing Co-Obligor, Inc., 5.88%, 08/15/2027 (b)		28,000		27,140
Scripps Escrow, Inc., 5.88%, 07/15/2027 (b)		10,000		7,168
Sirius XM Radio, Inc., 3.88%, 09/01/2031 (b)		108,000		92,779
Virgin Media Secured Finance PLC (United Kingdom), 5.50%, 05/15/2029 (b)		200,000		189,734
				1,748,993

Cargo Ground Transportation-0.30%
Penske Truck Leasing Co. L.P./PTL Finance Corp.,
5.75%, 05/24/2026 (b)		32,000		32,454
5.35%, 01/12/2027 (b)		11,000		11,163
4.40%, 07/01/2027 (b)		34,000		33,800
5.70%, 02/01/2028 (b)		108,000		111,058
5.55%, 05/01/2028 (b)		153,000		157,171
6.20%, 06/15/2030 (b)		52,000		55,607
Ryder System, Inc., 6.60%, 12/01/2033		161,000		177,999
				579,252

Casinos & Gaming-0.29%
Melco Resorts Finance Ltd. (Hong Kong), 5.38%, 12/04/2029 (b)		200,000		183,192
Studio City Finance Ltd. (Macau), 5.00%, 01/15/2029 (b)		200,000		178,823
Wynn Macau Ltd. (Macau), 5.63%, 08/26/2028 (b)		200,000		191,208
				553,223

Commercial & Residential Mortgage Finance-0.43%
Aviation Capital Group LLC,
3.50%, 11/01/2027 (b)		28,000		26,868
6.25%, 04/15/2028 (b)		11,000		11,435
6.75%, 10/25/2028 (b)		230,000		243,787
Nationstar Mortgage Holdings, Inc., 7.13%, 02/01/2032 (b)		89,000		92,276
Nationwide Building Society (United Kingdom), 6.56%, 10/18/2027 (b)(c)		242,000		251,010


	Principal Amount		Value
Commercial & Residential Mortgage Finance-(continued)
Radian Group, Inc., 6.20%, 05/15/2029	$	155,000		$ 161,506
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 2.88%, 10/15/2026 (b)		24,000		22,848
				809,730

Commodity Chemicals-0.17%
Mativ Holdings, Inc., 6.88%, 10/01/2026 (b)		322,000		321,801

Communications Equipment-0.03%
Cisco Systems, Inc., 5.30%, 02/26/2054		47,000		48,559

Computer & Electronics Retail-0.14%
Dell International LLC/EMC Corp., 6.02%, 06/15/2026		151,000		154,284
Leidos, Inc., 5.75%, 03/15/2033		106,000		110,262
				264,546

Construction Machinery & Heavy Transportation Equipment- 0.12%
Cummins, Inc.,
4.90%, 02/20/2029		67,000		68,672
5.45%, 02/20/2054		151,000		155,158
				223,830

Consumer Electronics-0.22%
LG Electronics, Inc. (South Korea),
5.63%, 04/24/2027 (b)		200,000		204,046
5.63%, 04/24/2029 (b)		200,000		207,330
				411,376

Consumer Finance-1.09%
American Express Co.,
5.65%, 04/23/2027 (c)		207,000		210,130
5.53%, 04/25/2030 (c)		269,000		279,572
5.92%, 04/25/2035 (c)		244,000		257,019
Capital One Financial Corp.,
7.15%, 10/29/2027 (c)		126,000		132,096
6.31%, 06/08/2029 (c)		162,000		169,506
7.62%, 10/30/2031 (c)		148,000		167,135
6.38%, 06/08/2034 (c)		142,000		150,948
FirstCash, Inc., 6.88%, 03/01/2032 (b)		423,000		435,082
Navient Corp., 5.00%, 03/15/2027		100,000		98,275
OneMain Finance Corp.,
3.88%, 09/15/2028		48,000		44,251
5.38%, 11/15/2029		90,000		86,631
4.00%, 09/15/2030		4,000		3,543
7.13%, 11/15/2031		50,000		50,535
				2,084,723

Consumer Staples Merchandise Retail-0.15%
Dollar General Corp.,
5.00%, 11/01/2032		50,000		49,089
5.50%, 11/01/2052		133,000		126,162
Walmart, Inc., 4.50%, 09/09/2052		113,000		106,662
				281,913

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


6		Invesco Bond Fund


	Principal Amount		Value
Copper-0.01%
Freeport-McMoRan, Inc., 4.38%, 08/01/2028	$	17,000		$ 16,799

Distillers & Vintners-0.04%
Brown-Forman Corp., 4.75%, 04/15/2033		41,000		41,416
Constellation Brands, Inc., 4.90%, 05/01/2033		33,000		32,909
				74,325

Distributors-0.49%
Genuine Parts Co.,
6.50%, 11/01/2028		379,000		405,725
4.95%, 08/15/2029		273,000		274,766
6.88%, 11/01/2033		229,000		259,400
				939,891

Diversified Banks-14.39%
Africa Finance Corp. (Supranational), 4.38%, 04/17/2026 (b)		1,080,000		1,063,548
Australia and New Zealand Banking Group Ltd. (Australia),
6.74%, 12/08/2032 (b)		333,000		365,263
6.75% (b)(c)(d)		784,000		800,381
Banco Bilbao Vizcaya Argentaria S.A. (Spain),
7.88%, 11/15/2034 (c)		410,000		464,640
9.38% (c)(d)		214,000		234,285
Banco Santander S.A. (Spain),
5.55%, 03/14/2028 (c)		200,000		203,038
5.44%, 07/15/2031		300,000		309,226
8.00% (c)(d)		190,476		196,742
9.63% (c)(d)		400,000		438,764
9.63% (c)(d)		400,000		464,778
Bank of America Corp.,
5.43%, 08/15/2035 (c)		319,000		319,813
7.75%, 05/14/2038		650,000		807,048
2.68%, 06/19/2041 (c)		22,000		16,088
Series AA, 6.10% (c)(d)		578,000		578,674
Series DD, 6.30% (c)(d)		174,000		176,021
Bank of China Ltd. (China), 5.00%, 11/13/2024 (b)		540,000		539,529
Bank of Montreal (Canada),
7.70%, 05/26/2084 (c)		456,000		478,468
7.30%, 11/26/2084 (c)		250,000		256,933
Bank of Nova Scotia (The) (Canada),
8.63%, 10/27/2082 (c)		429,000		460,569
8.00%, 01/27/2084 (c)		235,000		249,813
Banque Federative du Credit Mutuel S.A. (France), 5.19%, 02/16/2028 (b)		341,000		347,534
BBVA Bancomer S.A. (Mexico), 8.13%, 01/08/2039 (b)(c)		100,000		105,282
BPCE S.A. (France), 5.72%, 01/18/2030 (b)(c)		3,000		3,075
Citibank N.A., 5.57%, 04/30/2034		274,000		287,907


	Principal Amount		Value
Diversified Banks-(continued)
Citigroup, Inc.,
5.50%, 09/13/2025	$	428,000		$ 430,289
5.17%, 02/13/2030 (c)		132,000		134,574
2.57%, 06/03/2031 (c)		22,000		19,576
6.17%, 05/25/2034 (c)		286,000		302,059
5.83%, 02/13/2035 (c)		352,000		361,913
Series AA, 7.63% (c)(d)		422,000		448,485
Series BB, 7.20% (c)(d)		292,000		305,963
Series CC, 7.13% (c)(d)		302,000		309,672
Series DD, 7.00% (c)(d)		340,000		356,174
Series V, 4.70% (c)(d)		214,000		212,736
Comerica, Inc., 5.98%, 01/30/2030 (c)		68,000		69,204
Corp Financiera de Desarrollo S.A. (Peru), 5.95%, 04/30/2029 (b)		200,000		206,052
Credit Agricole S.A. (France),
5.34%, 01/10/2030 (b)(c)		169,000		172,430
6.25%, 01/10/2035 (b)(c)		27,000		28,355
Fifth Third Bancorp,
2.38%, 01/28/2025		49,000		48,429
1.71%, 11/01/2027 (c)		58,000		54,369
6.34%, 07/27/2029 (c)		32,000		33,655
4.77%, 07/28/2030 (c)		149,000		148,193
4.34%, 04/25/2033 (c)		80,000		75,486
HSBC Holdings PLC (United Kingdom),
5.60%, 05/17/2028 (c)		274,000		279,955
7.40%, 11/13/2034 (c)		305,000		341,952
6.00% (c)(d)		866,000		866,005
ING Groep N.V. (Netherlands), 5.34%, 03/19/2030 (c)		200,000		204,602
JPMorgan Chase & Co.,
5.57%, 04/22/2028 (c)		221,000		226,614
4.32%, 04/26/2028 (c)		163,000		162,286
4.85%, 07/25/2028 (c)		128,000		129,179
5.30%, 07/24/2029 (c)		201,000		206,299
5.01%, 01/23/2030 (c)		138,000		140,429
5.58%, 04/22/2030 (c)		173,000		180,170
5.00%, 07/22/2030 (c)		305,000		310,685
4.59%, 04/26/2033 (c)		104,000		102,709
5.72%, 09/14/2033 (c)		261,000		273,147
5.34%, 01/23/2035 (c)		107,000		110,234
5.29%, 07/22/2035 (c)		203,000		208,404
Series W, 6.38% (3 mo. Term SOFR + 1.26%), 05/15/2047 (e)		326,000		297,177
Series NN, 6.88% (c)(d)		177,000		188,039
KeyBank N.A., 5.85%, 11/15/2027		269,000		276,901
KeyCorp,
6.63% (SOFR + 1.25%), 05/23/2025 (e)		89,000		89,245
2.55%, 10/01/2029		56,000		50,163
4.79%, 06/01/2033 (c)		64,000		61,719
Mitsubishi UFJ Financial Group, Inc. (Japan),
5.26%, 04/17/2030 (c)		344,000		352,923
5.41%, 04/19/2034 (c)		205,000		212,832
5.43%, 04/17/2035 (c)		364,000		376,055
8.20% (c)(d)		465,000		510,483
Mizuho Financial Group, Inc. (Japan),
5.38%, 07/10/2030 (c)		200,000		205,691
5.59%, 07/10/2035 (c)		325,000		337,144

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


7		Invesco Bond Fund


	Principal Amount		Value
Diversified Banks-(continued)
Morgan Stanley Bank N.A., 5.88%, 10/30/2026	$	393,000		$ 405,036
National Securities Clearing Corp., 5.10%, 11/21/2027 (b)		335,000		342,607
Panama Infrastructure Receivable Purchaser PLC (United Kingdom), 0.00%, 04/05/2032 (b)(f)		533,000		368,039
PNC Financial Services Group, Inc. (The),
5.58%, 06/12/2029 (c)		252,000		260,358
4.63%, 06/06/2033 (c)		7,000		6,760
5.07%, 01/24/2034 (c)		127,000		127,084
Royal Bank of Canada (Canada),
4.95%, 02/01/2029		90,000		92,100
7.50%, 05/02/2084 (c)		414,000		430,410
Standard Chartered PLC (United Kingdom),
6.75%, 02/08/2028 (b)(c)		109,000		113,642
7.75% (b)(c)(d)		406,000		421,731
Sumitomo Mitsui Financial Group, Inc. (Japan), 6.60% (c)(d)		365,000		378,974
Sumitomo Mitsui Trust Bank Ltd. (Japan),
5.65%, 09/14/2026 (b)		200,000		204,127
5.20%, 03/07/2029 (b)		206,000		211,740
5.35%, 03/07/2034 (b)		200,000		207,436
Synovus Bank, 5.63%, 02/15/2028		896,000		893,617
Toronto-Dominion Bank (The) (Canada),
8.13%, 10/31/2082 (c)		349,000		372,731
7.25%, 07/31/2084 (c)		315,000		322,903
U.S. Bancorp,
5.78%, 06/12/2029 (c)		195,000		202,533
4.97%, 07/22/2033 (c)		98,000		96,284
5.84%, 06/12/2034 (c)		175,000		183,954
UBS AG (Switzerland), 5.65%, 09/11/2028		243,000		252,852
Wells Fargo & Co.,
5.71%, 04/22/2028 (c)		141,000		144,850
5.57%, 07/25/2029 (c)		140,000		144,615
5.20%, 01/23/2030 (c)		158,000		161,319
5.39%, 04/24/2034 (c)		95,000		97,403
5.56%, 07/25/2034 (c)		56,000		57,824
5.50%, 01/23/2035 (c)		188,000		194,088
5.38%, 11/02/2043		711,000		704,153
6.85% (c)(d)		214,000		220,190
7.63% (c)(d)		161,000		173,445
Westpac Banking Corp. (Australia), 5.41%, 08/10/2033 (c)		14,000		14,208
				27,393,088

Diversified Capital Markets-0.80%
Credit Suisse Group AG (Switzerland),
4.50% (b)(c)(d)(g)		268,000		32,160
5.25% (b)(c)(d)(g)		248,000		29,760
UBS Group AG (Switzerland),
5.71%, 01/12/2027 (b)(c)		256,000		258,705
4.75%, 05/12/2028 (b)(c)		303,000		303,100
6.30%, 09/22/2034 (b)(c)		295,000		318,463
4.38% (b)(c)(d)		258,000		221,462
Series 31, 7.75% (b)(c)(d)		346,000		365,052
				1,528,702


	Principal Amount		Value
Diversified Financial Services-2.19%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland), 6.95%, 03/10/2055 (c)	$	300,000		$ 309,700
Aircastle Ltd./Aircastle Ireland DAC, 5.75%, 10/01/2031 (b)		155,000		157,427
Apollo Debt Solutions BDC, 6.90%, 04/13/2029 (b)		34,000		35,181
Apollo Global Management, Inc.,
6.38%, 11/15/2033		174,000		191,640
5.80%, 05/21/2054		147,000		151,391
Avolon Holdings Funding Ltd. (Ireland),
6.38%, 05/04/2028 (b)		267,000		277,645
5.75%, 03/01/2029 (b)		296,000		303,252
5.75%, 11/15/2029 (b)		192,000		196,621
BlackRock Funding, Inc.,
4.90%, 01/08/2035		101,000		102,742
5.35%, 01/08/2055		99,000		101,661
Blue Owl Technology Finance Corp. II, 6.75%, 04/04/2029 (b)		341,000		338,683
Corebridge Financial, Inc.,
6.05%, 09/15/2033		197,000		209,979
5.75%, 01/15/2034		220,000		229,559
Franklin BSP Capital Corp., 7.20%, 06/15/2029 (b)		63,000		64,288
GGAM Finance Ltd. (Ireland), 6.88%, 04/15/2029 (b)		90,000		93,100
Jackson Financial, Inc., 5.67%, 06/08/2032		17,000		17,575
Jane Street Group/JSG Finance, Inc., 7.13%, 04/30/2031 (b)		219,000		230,181
LPL Holdings, Inc., 5.70%, 05/20/2027		201,000		204,673
Macquarie Airfinance Holdings Ltd. (United Kingdom),
6.40%, 03/26/2029 (b)		74,000		77,059
6.50%, 03/26/2031 (b)		174,000		183,585
Nuveen LLC,
5.55%, 01/15/2030 (b)		91,000		94,385
5.85%, 04/15/2034 (b)		152,000		159,220
OPEC Fund for International Development (The) (Supranational), 4.50%, 01/26/2026 (b)		345,000		344,867
Scientific Games Holdings L.P./Scientific Games US FinCo, Inc., 6.63%, 03/01/2030 (b)		95,000		94,356
				4,168,770

Diversified Metals & Mining-0.78%
BHP Billiton Finance (USA) Ltd. (Australia),
5.10%, 09/08/2028		254,000		260,476
5.25%, 09/08/2030		186,000		193,806
5.25%, 09/08/2033		324,000		334,563
Corporacion Nacional del Cobre de Chile (Chile), 5.13%, 02/02/2033 (b)		200,000		197,559
Glencore Funding LLC (Australia),
5.37%, 04/04/2029 (b)		119,000		121,466
5.63%, 04/04/2034 (b)		211,000		215,013
5.89%, 04/04/2054 (b)		82,000		82,193
Hudbay Minerals, Inc. (Canada), 6.13%, 04/01/2029 (b)		86,000		86,882
				1,491,958

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


8		Invesco Bond Fund


	Principal Amount		Value
Diversified REITs-0.25%
CubeSmart L.P., 2.50%, 02/15/2032	$	18,000		$ 15,369
Trust Fibra Uno (Mexico), 5.25%,
01/30/2026 (b)		464,000		462,354
				477,723

Diversified Support Services-0.26%
Element Fleet Management Corp.
(Canada), 6.32%, 12/04/2028 (b)		163,000		172,426
Ritchie Bros. Holdings, Inc. (Canada),
6.75%, 03/15/2028 (b)		92,000		94,766
7.75%, 03/15/2031 (b)		211,000		224,548
				491,740

Drug Retail-1.02%
CK Hutchison International (23) Ltd. (United Kingdom),
4.75%, 04/21/2028 (b)		331,000		333,745
4.88%, 04/21/2033 (b)		302,000		302,449
CVS Pass-Through Trust,
6.04%, 12/10/2028		406,915		412,134
5.77%, 01/10/2033 (b)		798,233		809,484
Walgreens Boots Alliance, Inc., 3.45%,
06/01/2026		96,000		91,427
				1,949,239

Electric Utilities-6.44%
Alabama Power Co., 5.85%,
11/15/2033		49,000		52,737
American Electric Power Co., Inc.,
5.20%, 01/15/2029		148,000		151,679
CenterPoint Energy Houston Electric LLC,
5.20%, 10/01/2028		85,000		87,257
Series AJ, 4.85%, 10/01/2052		218,000		202,254
Connecticut Light and Power Co. (The),
4.95%, 08/15/2034		52,000		52,286
5.25%, 01/15/2053		92,000		92,911
Consolidated Edison Co. of New York, Inc.,
5.50%, 03/15/2034		3,000		3,159
6.15%, 11/15/2052		52,000		58,103
5.90%, 11/15/2053		133,000		143,143
Constellation Energy Generation LLC,
6.13%, 01/15/2034		63,000		67,754
6.50%, 10/01/2053		59,000		65,427
5.75%, 03/15/2054		156,000		157,525
Dominion Energy South Carolina, Inc.,
6.25%, 10/15/2053		74,000		83,921
Duke Energy Carolinas LLC, 5.35%,
01/15/2053		173,000		173,305
Duke Energy Corp.,
5.00%, 12/08/2027		61,000		62,158
4.85%, 01/05/2029		144,000		146,036
5.00%, 08/15/2052		186,000		170,929
6.45%, 09/01/2054 (c)		242,000		248,048
Duke Energy Indiana LLC, 5.40%,
04/01/2053		135,000		134,771
Edison International, 7.88%,
06/15/2054 (c)		224,000		235,615
Electricite de France S.A. (France),
6.00%, 01/22/2114 (b)		1,455,000		1,492,393
Enel Finance America LLC (Italy),
7.10%, 10/14/2027 (b)		204,000		217,710


	Principal Amount		Value
Electric Utilities-(continued)
Enel Finance International N.V. (Italy), 6.80%, 10/14/2025 (b)	$	212,000		$	216,940
Entergy Corp., 7.13%, 12/01/2054 (c)		255,000			260,296
Entergy Louisiana LLC, 5.15%, 09/15/2034		132,000			133,248
Entergy Texas, Inc., 5.55%, 09/15/2054		98,000			98,290
Evergy Metro, Inc., 4.95%, 04/15/2033		62,000			62,599
Eversource Energy, 5.50%, 01/01/2034		126,000			128,696
Exelon Corp., 5.60%, 03/15/2053		209,000			211,889
FirstEnergy Pennsylvania Electric Co.,
5.20%, 04/01/2028 (b)		29,000			29,503
Georgia Power Co.,
4.65%, 05/16/2028		87,000			87,918
4.95%, 05/17/2033		97,000			98,111
Mercury Chile Holdco LLC (Chile),
6.50%, 01/24/2027 (b)		317,000			315,058
MidAmerican Energy Co.,
5.35%, 01/15/2034		41,000			42,974
5.85%, 09/15/2054		92,000			99,160
5.30%, 02/01/2055		121,000			120,736
National Rural Utilities Cooperative Finance Corp.,
4.85%, 02/07/2029		5,000			5,094
5.00%, 02/07/2031		183,000			188,782
5.80%, 01/15/2033		88,000			94,046
5.00%, 08/15/2034		223,000			224,279
7.13%, 09/15/2053 (c)		653,000			679,793
NextEra Energy Capital Holdings, Inc.,
4.63%, 07/15/2027		226,000			227,590
5.00%, 07/15/2032		63,000			63,838
5.25%, 03/15/2034		234,000			238,076
5.55%, 03/15/2054		289,000			291,735
6.75%, 06/15/2054 (c)		99,000			103,762
Ohio Power Co., 5.65%, 06/01/2034		154,000			160,196
Oklahoma Gas and Electric Co., 5.60%, 04/01/2053		433,000			439,792
Oncor Electric Delivery Co. LLC,
5.65%, 11/15/2033		140,000			148,845
PacifiCorp,
5.10%, 02/15/2029		150,000			153,780
5.30%, 02/15/2031		117,000			120,054
5.45%, 02/15/2034		181,000			185,030
5.80%, 01/15/2055		142,000			144,537
PPL Capital Funding, Inc., 5.25%, 09/01/2034		75,000			75,945
Public Service Co. of Colorado, 5.25%, 04/01/2053		98,000			94,990
Public Service Co. of New Hampshire,
5.35%, 10/01/2033		58,000			60,566
Public Service Electric and Gas Co.,
5.13%, 03/15/2053		62,000			61,373
San Diego Gas & Electric Co.,
5.35%, 04/01/2053		252,000			252,100
5.55%, 04/15/2054		174,000			179,074
Sierra Pacific Power Co., 5.90%, 03/15/2054		2,000			2,125
Southern Co. (The),
5.70%, 10/15/2032		90,000			95,368
Series B, 4.00%, 01/15/2051 (c)		197,000			192,989

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


9		Invesco Bond Fund


	Principal Amount		Value
Electric Utilities-(continued)
Southwestern Electric Power Co.,
5.30%, 04/01/2033	$	80,000		$	81,237
Talen Energy Supply LLC, 8.63%, 06/01/2030 (b)		42,000			45,517
Tampa Electric Co., 5.00%, 07/15/2052		70,000			66,376
Union Electric Co., 5.20%, 04/01/2034		232,000			238,009
Virginia Electric & Power Co., Series C, 4.63%, 05/15/2052		43,000			38,076
Virginia Electric and Power Co.,
5.00%, 04/01/2033		89,000			89,716
5.35%, 01/15/2054		108,000			107,573
Vistra Operations Co. LLC,
5.63%, 02/15/2027 (b)		91,000			90,927
4.38%, 05/01/2029 (b)		8,000			7,664
7.75%, 10/15/2031 (b)		436,000			464,233
6.88%, 04/15/2032 (b)		234,000			243,206
6.95%, 10/15/2033 (b)		167,000			185,642
6.00%, 04/15/2034 (b)		107,000			111,899
					12,258,373

Electrical Components & Equipment-0.34%
EnerSys,
4.38%, 12/15/2027 (b)		50,000			49,012
6.63%, 01/15/2032 (b)		41,000			43,098
Regal Rexnord Corp.,
6.05%, 04/15/2028		120,000			124,049
6.30%, 02/15/2030		17,000			17,960
6.40%, 04/15/2033		388,000			412,031
					646,150

Electronic Components-0.24%
Corning, Inc., 5.45%, 11/15/2079		375,000			364,652
Sensata Technologies, Inc., 3.75%, 02/15/2031 (b)		93,000			84,067
					448,719

Electronic Manufacturing Services-0.23%
EMRLD Borrower L.P./Emerald Co-Issuer, Inc., 6.63%, 12/15/2030 (b)		406,000			416,265
Jabil, Inc., 3.00%, 01/15/2031		26,000			22,896
					439,161

Environmental & Facilities Services-0.36%
GFL Environmental, Inc., 6.75%, 01/15/2031 (b)		101,000			105,629
Republic Services, Inc.,
4.88%, 04/01/2029		5,000			5,102
5.00%, 12/15/2033		152,000			154,792
5.00%, 04/01/2034		2,000			2,036
Veralto Corp.,
5.35%, 09/18/2028 (b)		234,000			241,313
5.45%, 09/18/2033 (b)		138,000			142,702
Wrangler Holdco Corp. (Canada),
6.63%, 04/01/2032 (b)		30,000			30,995
					682,569


	Principal Amount		Value
Financial Exchanges & Data-0.62%
Intercontinental Exchange, Inc.,
4.35%, 06/15/2029	$	108,000		$	107,775
5.25%, 06/15/2031		154,000			160,335
4.60%, 03/15/2033		104,000			103,691
4.95%, 06/15/2052		152,000			148,770
5.20%, 06/15/2062		201,000			201,281
Moody's Corp., 5.25%, 07/15/2044		199,000			198,719
Nasdaq, Inc.,
5.35%, 06/28/2028		55,000			56,841
5.55%, 02/15/2034		85,000			88,570
5.95%, 08/15/2053		34,000			36,486
6.10%, 06/28/2063		70,000			75,940
					1,178,408

Food Retail-0.24%
Kroger Co. (The),
4.65%, 09/15/2029		105,000			105,018
5.00%, 09/15/2034		163,000			162,557
5.65%, 09/15/2064		194,000			189,681
					457,256

Gas Utilities-0.23%
Atmos Energy Corp.,
5.90%, 11/15/2033		79,000			85,636
6.20%, 11/15/2053		61,000			69,043
Piedmont Natural Gas Co., Inc.,
5.40%, 06/15/2033		137,000			141,699
Southern Co. Gas Capital Corp.,
5.75%, 09/15/2033		70,000			74,035
Southwest Gas Corp., 5.45%, 03/23/2028		61,000			62,388
					432,801

Gold-0.05%
New Gold, Inc. (Canada), 7.50%, 07/15/2027 (b)		87,000			87,898

Health Care Distributors-0.04%
Cardinal Health, Inc., 5.45%, 02/15/2034		80,000			82,710

Health Care Equipment-0.00%
Smith & Nephew PLC (United Kingdom), 5.40%, 03/20/2034		6,000			6,126

Health Care Facilities-0.73%
Adventist Health System, 5.76%, 12/01/2034		79,000			80,973
CommonSpirit Health,
5.32%, 12/01/2034		248,000			253,726
5.55%, 12/01/2054		82,000			83,939
Encompass Health Corp.,
4.50%, 02/01/2028		70,000			68,491
4.63%, 04/01/2031		15,000			14,216
HCA, Inc.,
5.45%, 09/15/2034		28,000			28,372
5.90%, 06/01/2053		217,000			220,224
Providence St. Joseph Health Obligated Group, Series 21-A, 2.70%, 10/01/2051		229,000			141,146
Tenet Healthcare Corp., 6.75%, 05/15/2031		266,000			276,039

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


10		Invesco Bond Fund


	Principal Amount		Value
Health Care Facilities-(continued)
UPMC,
5.04%, 05/15/2033	$	162,000		$	164,259
5.38%, 05/15/2043		56,000			57,456
					1,388,841

Health Care REITs-0.26%
Alexandria Real Estate Equities, Inc.,
5.25%, 05/15/2036		59,000			59,010
5.63%, 05/15/2054		284,000			280,073
Diversified Healthcare Trust, 0.00%, 01/15/2026 (b)(f)		139,000			124,469
MPT Operating Partnership L.P./MPT Finance Corp., 3.50%, 03/15/2031		29,000			19,837
Omega Healthcare Investors, Inc., 3.25%, 04/15/2033		24,000			20,322
					503,711

Health Care Services-0.87%
Catalent Pharma Solutions, Inc.,
3.50%, 04/01/2030 (b)		28,000			27,362
Community Health Systems, Inc.,
8.00%, 12/15/2027 (b)		47,000			47,126
5.25%, 05/15/2030 (b)		63,000			56,533
4.75%, 02/15/2031 (b)		42,000			35,868
Concentra Escrow Issuer Corp.,
6.88%, 07/15/2032 (b)		90,000			94,261
CVS Health Corp.,
5.00%, 01/30/2029		198,000			200,860
5.25%, 01/30/2031		30,000			30,514
5.30%, 06/01/2033		149,000			149,707
DaVita, Inc.,
3.75%, 02/15/2031 (b)		56,000			49,884
6.88%, 09/01/2032 (b)		197,000			201,668
Icon Investments Six DAC,
5.81%, 05/08/2027		200,000			205,175
5.85%, 05/08/2029		210,000			219,492
Piedmont Healthcare, Inc., 2.86%, 01/01/2052		117,000			79,304
Prime Healthcare Services, Inc.,
9.38%, 09/01/2029 (b)		55,000			55,494
Quest Diagnostics, Inc., 6.40%, 11/30/2033		108,000			118,914
Star Parent, Inc., 9.00%, 10/01/2030 (b)		85,000			90,846
					1,663,008

Health Care Supplies-0.68%
Medline Borrower L.P.,
3.88%, 04/01/2029 (b)		27,000			25,525
5.25%, 10/01/2029 (b)		94,000			92,393
Medline Borrower L.P./Medline Co-Issuer, Inc., 6.25%, 04/01/2029 (b)		89,000			91,855
Solventum Corp.,
5.40%, 03/01/2029 (b)		279,000			284,799
5.60%, 03/23/2034 (b)		320,000			326,385
5.90%, 04/30/2054 (b)		260,000			263,249
6.00%, 05/15/2064 (b)		208,000			208,581
					1,292,787


	Principal Amount		Value
Home Improvement Retail-0.36%
Lowe's Cos., Inc.,
5.63%, 04/15/2053	$	252,000		$	255,018
5.75%, 07/01/2053		39,000			40,226
5.80%, 09/15/2062		208,000			212,252
5.85%, 04/01/2063		182,000			186,731
					694,227

Hotel & Resort REITs-0.26%
Phillips Edison Grocery Center Operating Partnership I L.P., 5.75%, 07/15/2034		60,000			61,829
RHP Hotel Properties L.P./RHP Finance Corp., 6.50%, 04/01/2032 (b)		134,000			138,106
RLJ Lodging Trust L.P., 4.00%, 09/15/2029 (b)		101,000			91,750
Service Properties Trust,
4.75%, 10/01/2026		137,000			131,129
5.50%, 12/15/2027		52,000			48,968
4.38%, 02/15/2030		35,000			25,892
					497,674

Hotels, Resorts & Cruise Lines-0.64%
Carnival Corp., 6.00%, 05/01/2029 (b)		100,000			100,515
Choice Hotels International, Inc.,
5.85%, 08/01/2034		112,000			114,538
Hilton Domestic Operating Co., Inc.,
5.88%, 04/01/2029 (b)		78,000			79,542
6.13%, 04/01/2032 (b)		253,000			259,551
IRB Holding Corp., 7.00%, 06/15/2025 (b)		83,000			83,088
Marriott International, Inc.,
4.80%, 03/15/2030		142,000			142,845
5.30%, 05/15/2034		102,000			103,768
Royal Caribbean Cruises Ltd.,
6.25%, 03/15/2032 (b)		74,000			76,467
6.00%, 02/01/2033 (b)		245,000			251,128
					1,211,442

Household Products-0.05%
Kronos Acquisition Holdings, Inc. (Canada), 8.25%, 06/30/2031 (b)		91,000			93,731

Housewares & Specialties-0.06%
Newell Brands, Inc.,
6.38%, 09/15/2027		59,000			59,464
6.88%, 04/01/2036		20,000			19,037
7.00%, 04/01/2046		32,000			27,775
					106,276

Independent Power Producers & Energy Traders-0.14%
Clearway Energy Operating LLC,
4.75%, 03/15/2028 (b)		29,000			28,199
3.75%, 02/15/2031 (b)		52,000			47,222
Vistra Corp.,
7.00% (b)(c)(d)		92,000			93,070
Series C, 8.88% (b)(c)(d)		85,000			90,447
					258,938

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


11		Invesco Bond Fund


	Principal Amount		Value
Industrial Conglomerates-0.63%
Honeywell International, Inc.,
4.25%, 01/15/2029	$	125,000		$	125,934
4.88%, 09/01/2029		195,000			200,232
4.95%, 09/01/2031		279,000			288,317
5.00%, 02/15/2033		96,000			98,847
5.25%, 03/01/2054		104,000			105,630
5.35%, 03/01/2064		294,000			301,183
Icahn Enterprises L.P./Icahn Enterprises Finance Corp., 9.00%, 06/15/2030 (b)		84,000			85,057
					1,205,200

Industrial Machinery & Supplies & Components-0.34%
Enpro, Inc., 5.75%, 10/15/2026		90,000			89,610
ESAB Corp., 6.25%, 04/15/2029 (b)		90,000			92,569
Ingersoll Rand, Inc.,
5.20%, 06/15/2027		152,000			154,695
5.40%, 08/14/2028		28,000			28,863
Nordson Corp.,
5.60%, 09/15/2028		42,000			43,536
5.80%, 09/15/2033		85,000			90,662
nVent Finance S.a.r.l. (United Kingdom), 5.65%, 05/15/2033		16,000			16,434
Roller Bearing Co. of America, Inc., 4.38%, 10/15/2029 (b)		147,000			140,000
					656,369

Industrial REITs-1.04%
LXP Industrial Trust, 6.75%, 11/15/2028		62,000			65,819
Prologis L.P.,
4.88%, 06/15/2028		122,000			124,200
4.63%, 01/15/2033		234,000			232,210
4.75%, 06/15/2033		245,000			245,115
5.13%, 01/15/2034		116,000			118,702
5.00%, 03/15/2034		388,000			392,478
5.00%, 01/31/2035		236,000			237,873
5.25%, 06/15/2053		313,000			310,550
5.25%, 03/15/2054		254,000			252,134
					1,979,081

Insurance Brokers-0.31%
Alliant Holdings Intermediate LLC/ Alliant Holdings Co-Issuer, 7.00%, 01/15/2031 (b)		45,000			46,552
Aon Corp./Aon Global Holdings PLC, 5.35%, 02/28/2033		56,000			57,782
AssuredPartners, Inc., 7.50%, 02/15/2032 (b)		2,000			2,042
Marsh & McLennan Cos., Inc.,
5.40%, 09/15/2033		173,000			182,735
6.25%, 11/01/2052		62,000			71,015
5.45%, 03/15/2053		58,000			59,461
5.70%, 09/15/2053		161,000			171,316
					590,903

Integrated Oil & Gas-1.60%
BP Capital Markets America, Inc.,
4.70%, 04/10/2029		9,000			9,122
4.81%, 02/13/2033		165,000			165,132
4.89%, 09/11/2033		17,000			17,104
BP Capital Markets PLC, 4.38% (c)(d)		47,000			46,354


	Principal Amount		Value
Integrated Oil & Gas-(continued)
Ecopetrol S.A. (Colombia),
8.88%, 01/13/2033	$	417,000		$	442,452
8.38%, 01/19/2036		156,000			158,064
Empresa Nacional del Petroleo (Chile),
5.95%, 07/30/2034 (b)		210,000			218,461
Eni S.p.A. (Italy), 5.50%, 05/15/2034 (b)		217,000			223,709
Occidental Petroleum Corp.,
5.20%, 08/01/2029		59,000			59,865
5.38%, 01/01/2032		37,000			37,569
5.55%, 10/01/2034		86,000			87,441
6.20%, 03/15/2040		327,000			341,950
4.63%, 06/15/2045		134,000			110,625
6.05%, 10/01/2054		201,000			204,541
Petroleos Mexicanos (Mexico),
8.75%, 06/02/2029		141,190			140,133
6.70%, 02/16/2032		177,000			152,623
Saudi Arabian Oil Co. (Saudi Arabia),
5.25%, 07/17/2034 (b)		200,000			204,591
5.75%, 07/17/2054 (b)		200,000			201,050
5.88%, 07/17/2064 (b)		220,000			223,322
					3,044,108

Integrated Telecommunication Services-3.34%
AT&T, Inc.,
5.40%, 02/15/2034		169,000			174,581
3.55%, 09/15/2055		2,520,000			1,783,106
British Telecommunications PLC (United Kingdom), 4.25%, 11/23/2081 (b)(c)		470,000			453,287
Frontier Communications Holdings LLC,
8.63%, 03/15/2031 (b)		44,000			46,603
Iliad Holding S.A.S. (France),
6.50%, 10/15/2026 (b)		250,000			252,405
8.50%, 04/15/2031 (b)		204,000			216,397
Level 3 Financing, Inc.,
10.50%, 04/15/2029 (b)		17,000			18,309
11.00%, 11/15/2029 (b)		25,000			27,439
Telecom Italia Capital S.A. (Italy),
6.38%, 11/15/2033		93,000			94,016
Telefonica Emisiones S.A. (Spain),
7.05%, 06/20/2036		527,000			598,146
Verizon Communications, Inc.,
4.50%, 08/10/2033		2,161,000			2,102,412
3.40%, 03/22/2041		33,000			26,318
3.00%, 11/20/2060		144,000			90,636
3.70%, 03/22/2061		91,000			67,069
Zegona Finance PLC (United Kingdom),
8.63%, 07/15/2029 (b)		400,000			416,275
					6,366,999

Interactive Media & Services-1.04%
Baidu, Inc. (China),
3.08%, 04/07/2025		210,000			207,579
1.72%, 04/09/2026		210,000			200,615
Match Group Holdings II LLC, 3.63%, 10/01/2031 (b)		26,000			23,104

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


12		Invesco Bond Fund


	Principal Amount		Value
Interactive Media & Services-(continued)
Meta Platforms, Inc.,
4.30%, 08/15/2029	$	159,000		$ 160,125
4.55%, 08/15/2031		88,000		89,033
4.75%, 08/15/2034		144,000		144,960
4.45%, 08/15/2052		281,000		251,600
5.40%, 08/15/2054		177,000		180,647
4.65%, 08/15/2062		213,000		191,613
5.75%, 05/15/2063		220,000		234,643
5.55%, 08/15/2064		296,000		303,451
				1,987,370

Investment Banking & Brokerage-2.83%
Brookfield Finance, Inc. (Canada), 5.97%, 03/04/2054		102,000		107,527
Charles Schwab Corp. (The), Series K, 5.00% (c)(d)		126,000		121,766
Goldman Sachs Group, Inc. (The), 6.18% (SOFR + 0.81%),
03/09/2027 (e)		355,000		354,766
6.50% (SOFR + 1.12%),
02/24/2028 (e)		65,000		65,501
5.73%, 04/25/2030 (c)		164,000		170,981
5.05%, 07/23/2030 (c)		253,000		256,862
5.85%, 04/25/2035 (c)		186,000		196,560
5.33%, 07/23/2035 (c)		203,000		206,895
4.80%, 07/08/2044		13,000		12,364
Series T, 3.80% (c)(d)		13,000		12,441
Series V, 4.13% (c)(d)		161,000		152,840
Series W, 7.50% (c)(d)		635,000		677,871
Series X, 7.50% (c)(d)		609,000		640,419
Jefferies Financial Group, Inc., 4.15%, 01/23/2030		30,000		28,865
Morgan Stanley,
5.12%, 02/01/2029 (c)		85,000		86,509
5.16%, 04/20/2029 (c)		343,000		349,543
5.45%, 07/20/2029 (c)		73,000		75,262
6.41%, 11/01/2029 (c)		166,000		176,962
5.17%, 01/16/2030 (c)		68,000		69,414
5.04%, 07/19/2030 (c)		180,000		183,126
5.25%, 04/21/2034 (c)		328,000		333,690
5.42%, 07/21/2034 (c)		167,000		171,651
5.47%, 01/18/2035 (c)		161,000		165,965
5.83%, 04/19/2035 (c)		165,000		174,598
5.32%, 07/19/2035 (c)		282,000		288,172
5.95%, 01/19/2038 (c)		73,000		75,642
5.94%, 02/07/2039 (c)		219,000		226,148
				5,382,340

Leisure Facilities-0.26%
Carnival Holdings Bermuda Ltd., 10.38%, 05/01/2028 (b)		116,000		125,569
NCL Corp. Ltd.,
5.88%, 02/15/2027 (b)		94,000		94,285
8.13%, 01/15/2029 (b)		43,000		46,025
Six Flags Entertainment Corp./Six Flags Theme Parks, Inc.,
6.63%, 05/01/2032 (b)		88,000		90,636
Viking Cruises Ltd., 9.13%, 07/15/2031 (b)		104,000		114,174


	Principal Amount		Value
Leisure Facilities-(continued)
Viking Ocean Cruises Ship VII Ltd., 5.63%, 02/15/2029 (b)	$	26,000		$ 25,800
				496,489

Leisure Products-0.06%
Brunswick Corp., 5.85%, 03/18/2029		103,000		105,419

Life & Health Insurance-3.15%
AIA Group Ltd. (Hong Kong), 5.38%, 04/05/2034 (b)		200,000		203,350
American National Group, Inc., 5.00%, 06/15/2027		152,000		151,884
Athene Global Funding, 5.58%, 01/09/2029 (b)		267,000		274,357
Athene Holding Ltd.,
6.15%, 04/03/2030		28,000		29,857
6.25%, 04/01/2054		142,000		147,590
Corebridge Global Funding, 6.67% (SOFR + 1.30%),
09/25/2026 (b)(e)		384,000		387,047
5.90%, 09/19/2028 (b)		143,000		149,289
5.20%, 01/12/2029 (b)		239,000		244,239
5.20%, 06/24/2029 (b)		232,000		238,573
Delaware Life Global Funding, Series 21-1, 2.66%,
06/29/2026 (b)		1,080,000		1,025,467
F&G Annuities & Life, Inc., 7.40%,
01/13/2028		205,000		214,939
GA Global Funding Trust, 5.50%,
01/08/2029(b)		152,000		156,018
MAG Mutual Holding Co., 4.75%,
04/30/2041 (b)(h)		1,039,000		929,198
MetLife, Inc., 5.00%, 07/15/2052		65,000		62,666
5.25%, 01/15/2054		314,000		315,412
New York Life Global Funding, 4.55%, 01/28/2033 (b)		197,000		194,087
Nippon Life Insurance Co. (Japan), 5.95%, 04/16/2054 (b)(c)		281,000		291,747
Pacific Life Global Funding II, 6.18% (SOFR + 0.80%),
03/30/2025 (b)(e)		251,000		251,637
6.01% (SOFR + 0.62%),
06/04/2026 (b)(e)		100,000		100,104
Pricoa Global Funding I, 4.65%, 08/27/2031 (b)		150,000		149,919
Sammons Financial Group, Inc., 4.75%, 04/08/2032 (b)		24,000		22,188
Sumitomo Life Insurance Co. (Japan),
5.88% (b)(c)(d)		443,000		455,718
				5,995,286

Managed Health Care-0.53%
Humana, Inc., 5.75%, 12/01/2028		83,000		86,731
UnitedHealth Group, Inc., 4.25%, 01/15/2029		92,000		92,069
5.30%, 02/15/2030		321,000		336,408
5.35%, 02/15/2033		273,000		285,838
4.50%, 04/15/2033		32,000		31,633
5.63%, 07/15/2054		93,000		97,211
5.20%, 04/15/2063		73,000		70,782
				1,000,672

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


13		Invesco Bond Fund


	Principal Amount		Value
Marine Transportation-0.39%
A.P. Moller - Maersk A/S (Denmark),
5.88%, 09/14/2033 (b)	$	123,000		$ 130,259
Stena International S.A. (Sweden),
7.25%, 01/15/2031 (b)		100,000		103,046
7.63%, 02/15/2031 (b)		494,000		510,770
				744,075

Metal, Glass & Plastic Containers-0.14%
Clydesdale Acquisition Holdings, Inc.,
6.63%, 04/15/2029 (b)		75,000		74,962
OI European Group B.V., 4.75%,
02/15/2030 (b)		146,000		137,351
Owens-Brockway Glass Container, Inc.,
7.25%, 05/15/2031 (b)		47,000		47,617
				259,930

Movies & Entertainment-0.03%
Netflix, Inc., 5.40%, 08/15/2054		35,000		36,505
Warnermedia Holdings, Inc., 4.28%,
03/15/2032		17,000		14,868
				51,373

Multi-Family Residential REITs-0.31%
AvalonBay Communities, Inc.,
5.00%, 02/15/2033		47,000		47,466
5.30%, 12/07/2033		174,000		179,069
Mid-America Apartments L.P., 5.30%,
02/15/2032		283,000		291,092
UDR, Inc., 5.13%, 09/01/2034		69,000		68,763
				586,390

Multi-line Insurance-0.05%
Acrisure LLC/Acrisure Finance, Inc.,
7.50%, 11/06/2030 (b)		90,000		92,450

Multi-Utilities-1.59%
Ameren Illinois Co.,
4.95%, 06/01/2033		96,000		97,310
5.90%, 12/01/2052		66,000		71,441
Black Hills Corp., 6.15%,
05/15/2034		259,000		275,057
Dominion Energy, Inc.,
5.38%, 11/15/2032		297,000		306,027
Series B, 7.00%, 06/01/2054 (c)		163,000		173,796
Series A, 6.88%, 02/01/2055 (c)		128,000		133,408
DTE Electric Co., 5.20%, 03/01/2034		94,000		97,057
DTE Energy Co.,
4.95%, 07/01/2027		106,000		107,170
5.85%, 06/01/2034		65,000		68,487
ENGIE S.A. (France),
5.25%, 04/10/2029 (b)		205,000		210,408
5.63%, 04/10/2034 (b)		200,000		207,621
5.88%, 04/10/2054 (b)		205,000		211,684
NiSource, Inc.,
5.25%, 03/30/2028		33,000		33,747
5.35%, 04/01/2034		155,000		158,303
6.95%, 11/30/2054 (c)		101,000		102,581
Public Service Enterprise Group, Inc.,
5.88%, 10/15/2028		255,000		266,855
6.13%, 10/15/2033		168,000		180,877
Sempra, 6.88%, 10/01/2054 (c)		216,000		218,715


	Principal Amount		Value
Multi-Utilities-(continued)
WEC Energy Group, Inc., 4.75%, 01/15/2028	$	97,000		$ 97,895
				3,018,439

Office REITs-0.93%
Boston Properties L.P., 5.75%,
01/15/2035		543,000		540,124
Brandywine Operating Partnership L.P.,
8.05%, 03/15/2028		320,000		340,764
8.88%, 04/12/2029		190,000		206,653
Cousins Properties L.P., 5.88%, 10/01/2034		159,000		159,986
Office Properties Income Trust, 9.00%, 03/31/2029 (b)		98,000		93,221
9.00%, 09/30/2029 (b)		525,000		427,754
				1,768,502

Oil & Gas Drilling-0.39%
Delek Logistics Partners L.P./Delek Logistics Finance Corp.,
7.13%, 06/01/2028 (b)		144,000		145,222
8.63%, 03/15/2029 (b)		44,000		46,299
Patterson-UTI Energy, Inc., 7.15%, 10/01/2033		93,000		100,876
Summit Midstream Holdings LLC, 8.63%, 10/31/2029 (b)		136,000		141,263
Transocean, Inc., 8.75%, 02/15/2030 (b)		133,450		141,082
Valaris Ltd., 8.38%, 04/30/2030 (b)		168,000		175,409
				750,151

Oil & Gas Exploration & Production-1.11%
Aethon United BR L.P./Aethon United Finance Corp., 8.25%, 02/15/2026 (b)		87,000		88,267
Apache Corp., 7.75%, 12/15/2029		51,000		56,420
Baytex Energy Corp. (Canada), 7.38%, 03/15/2032 (b)		217,000		224,918
ConocoPhillips Co.,
5.55%, 03/15/2054		118,000		121,369
5.70%, 09/15/2063		76,000		79,448
Diamondback Energy, Inc.,
5.15%, 01/30/2030		137,000		140,220
5.75%, 04/18/2054		91,000		91,101
5.90%, 04/18/2064		78,000		78,394
EQT Corp., 5.70%, 04/01/2028		65,000		66,813
Hilcorp Energy I L.P./Hilcorp Finance Co.,
6.00%, 04/15/2030 (b)		72,000		71,675
6.00%, 02/01/2031 (b)		30,000		29,732
6.25%, 04/15/2032 (b)		26,000		25,928
8.38%, 11/01/2033 (b)		52,000		56,993
6.88%, 05/15/2034 (b)		248,000		251,020
Murphy Oil Corp.,
6.38%, 07/15/2028		85,000		86,164
5.88%, 12/01/2042		30,000		27,480
Southwestern Energy Co., 5.38%, 03/15/2030		87,000		86,297
Transocean Titan Financing Ltd., 8.38%, 02/01/2028 (b)		285,000		295,808
Uzbekneftegaz JSC (Uzbekistan), 4.75%, 11/16/2028 (b)		278,000		239,824
				2,117,871

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


14		Invesco Bond Fund


	Principal Amount		Value
Oil & Gas Refining & Marketing-0.34%
CVR Energy, Inc., 8.50%, 01/15/2029 (b)	$	468,000		$ 477,229
Phillips 66 Co., 5.30%, 06/30/2033		159,000		162,801
				640,030

Oil & Gas Storage & Transportation-5.88%
6297782 LLC (Canada),
5.58%, 10/01/2034 (b)		64,000		63,748
6.18%, 10/01/2054 (b)		132,000		132,032
Antero Midstream Partners L.P./Antero Midstream Finance Corp., 6.63%, 02/01/2032 (b)		236,000		243,369
Blue Racer Midstream LLC/Blue Racer Finance Corp., 7.00%, 07/15/2029 (b)		109,000		113,446
7.25%, 07/15/2032 (b)		131,000		137,488
El Paso Natural Gas Co. LLC, 8.38%, 06/15/2032		66,000		77,927
Enbridge, Inc. (Canada),
5.70%, 03/08/2033		163,000		170,040
7.38%, 01/15/2083 (c)		217,000		219,872
7.63%, 01/15/2083 (c)		165,000		172,977
8.50%, 01/15/2084 (c)		155,000		170,269
Series NC5, 8.25%, 01/15/2084 (c)		246,000		257,999
Energy Transfer L.P.,
5.55%, 02/15/2028		32,000		32,906
6.40%, 12/01/2030		37,000		40,057
5.75%, 02/15/2033		107,000		111,337
6.55%, 12/01/2033		52,000		56,902
5.55%, 05/15/2034		131,000		134,465
5.00%, 05/15/2050		149,000		132,258
5.95%, 05/15/2054		179,000		180,850
8.00%, 05/15/2054 (c)		148,000		157,558
6.05%, 09/01/2054		331,000		338,958
7.13%, 10/01/2054 (c)		450,000		456,045
Enterprise Products Operating LLC,
5.35%, 01/31/2033		17,000		17,688
4.20%, 01/31/2050		156,000		130,855
Series D, 6.88%, 03/01/2033		45,000		51,267
8.34% (3 mo. Term SOFR + 3.25%), 08/16/2077 (e)		158,000		156,281
EQM Midstream Partners L.P., 6.50%, 07/15/2048		176,000		181,899
Genesis Energy L.P./Genesis Energy Finance Corp.,
8.00%, 01/15/2027		35,000		35,863
7.75%, 02/01/2028		50,000		50,925
8.88%, 04/15/2030		56,000		59,483
7.88%, 05/15/2032		122,000		125,273
GreenSaif Pipelines Bidco S.a.r.l. (Saudi Arabia),
5.85%, 02/23/2036 (b)		205,000		211,490
6.13%, 02/23/2038 (b)		200,000		209,060
6.51%, 02/23/2042 (b)		200,000		212,981
6.10%, 08/23/2042 (b)		200,000		205,235
Howard Midstream Energy Partners LLC, 7.38%, 07/15/2032 (b)		178,000		184,412
Kinder Morgan, Inc.,
7.80%, 08/01/2031		102,000		118,000
5.20%, 06/01/2033		7,000		7,020


	Principal Amount		Value
Oil & Gas Storage & Transportation-(continued)
MPLX L.P.,
4.80%, 02/15/2029	$	143,000		$ 144,406
4.70%, 04/15/2048		170,000		146,517
5.50%, 02/15/2049		225,000		215,899
4.95%, 03/14/2052		239,000		211,654
5.65%, 03/01/2053		32,000		31,337
New Fortress Energy, Inc., 6.50%, 09/30/2026 (b)		31,000		26,860
NGL Energy Operating LLC/NGL Energy
Finance Corp.,
8.13%, 02/15/2029 (b)		43,000		44,011
8.38%, 02/15/2032 (b)		281,000		289,445
Northern Natural Gas Co.,
3.40%, 10/16/2051 (b)		34,000		23,474
5.63%, 02/01/2054 (b)		54,000		54,953
Northriver Midstream Finance L.P. (Canada), 6.75%, 07/15/2032 (b)		200,000		206,628
ONEOK Partners L.P., 6.85%, 10/15/2037		166,000		184,468
ONEOK, Inc.,
5.65%, 11/01/2028		47,000		48,838
5.80%, 11/01/2030		32,000		33,821
6.35%, 01/15/2031		242,000		259,879
6.10%, 11/15/2032		76,000		80,735
6.05%, 09/01/2033		171,000		180,602
6.63%, 09/01/2053		252,000		277,810
Plains All American Pipeline L.P./PAA Finance Corp., 3.55%, 12/15/2029		26,000		24,484
Prairie Acquiror L.P., 9.00%, 08/01/2029 (b)		134,000		140,245
Sabine Pass Liquefaction LLC, 5.90%, 09/15/2037		167,000		176,163
South Bow Canadian Infrastructure Holdings Ltd. (Canada),
7.50%, 03/01/2055 (b)(c)		175,000		180,412
7.63%, 03/01/2055 (b)(c)		177,000		180,828
Tallgrass Energy Partners
L.P./Tallgrass Energy Finance Corp.,
7.38%, 02/15/2029 (b)		421,000		430,672
Targa Resources Corp.,
5.20%, 07/01/2027		133,000		134,995
5.50%, 02/15/2035		76,000		77,193
6.25%, 07/01/2052		157,000		164,539
Venture Global LNG, Inc.,
9.50%, 02/01/2029 (b)		287,000		323,611
7.00%, 01/15/2030 (b)		189,000		193,374
9.88%, 02/01/2032 (b)		420,000		466,882
Western Midstream Operating L.P.,
6.15%, 04/01/2033		128,000		134,597
5.45%, 11/15/2034		196,000		195,031
Williams Cos., Inc. (The),
5.30%, 08/15/2028		265,000		272,204
4.80%, 11/15/2029		148,000		149,134
4.65%, 08/15/2032		16,000		15,748
5.65%, 03/15/2033		16,000		16,626
5.80%, 11/15/2054		87,000		88,910
				11,185,220

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


15		Invesco Bond Fund


	Principal Amount		Value
Other Specialized REITs-0.05%
Iron Mountain, Inc.,
4.50%, 02/15/2031 (b)	$	50,000		$	46,979
5.63%, 07/15/2032 (b)		47,000			46,340
					93,319

Other Specialty Retail-0.20%
Bath & Body Works, Inc., 6.75%, 07/01/2036		92,000			94,321
PetSmart, Inc./PetSmart Finance Corp.,
4.75%, 02/15/2028 (b)		250,000			239,412
Tractor Supply Co., 5.25%, 05/15/2033		53,000			54,266
					387,999

Packaged Foods & Meats-0.17%
Campbell Soup Co., 5.20%, 03/21/2029		2,000			2,056
J.M. Smucker Co. (The), 6.20%, 11/15/2033		84,000			91,562
Minerva (Luxembourg) S.A. (Brazil),
8.88%, 09/13/2033 (b)		205,000			221,412
					315,030

Paper & Plastic Packaging Products & Materials-0.34%
Graphic Packaging International LLC,
6.38%, 07/15/2032 (b)		252,000			257,967
Smurfit Kappa Treasury Unlimited Co. (Ireland),
5.20%, 01/15/2030 (b)		139,000			142,246
5.44%, 04/03/2034 (b)		128,000			131,787
5.78%, 04/03/2054 (b)		103,000			108,395
					640,395

Passenger Airlines-1.21%
American Airlines Pass-Through Trust, Series 2021-1, Class B, 3.95%, 07/11/2030		145,960			134,454
Series 2021-1, Class A, 2.88%, 07/11/2034		144,626			125,520
American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.75%, 04/20/2029 (b)		285,000			279,633
British Airways Pass-Through Trust (United Kingdom), Series 2021-1, Class A, 2.90%, 03/15/2035 (b)		106,422			94,355
Delta Air Lines, Inc./SkyMiles IP Ltd.,
4.50%, 10/20/2025 (b)		96,903			96,540
4.75%, 10/20/2028 (b)		332,885			329,769
United Airlines Pass-Through Trust, Series 2016-1, Class B, 3.65%, 01/07/2026		176,428			171,707
Series 2020-1, Class A, 5.88%, 10/15/2027		167,984			171,305
Series 2018-1, Class AA, 3.50%, 03/01/2030		180,018			168,132
Series 2019-1, Class A, 4.55%, 08/25/2031		149,321			137,864
Series 2019-1, Class AA, 4.15%, 08/25/2031		234,845			223,805
Series 24-A, 5.88%, 02/15/2037		191,000			195,264
Series AA, 5.45%, 02/15/2037		178,000			183,872
					2,312,220


	Principal Amount		Value
Personal Care Products-0.32%
Kenvue, Inc.,
5.05%, 03/22/2028	$	82,000		$	84,293
5.00%, 03/22/2030		162,000			167,717
4.90%, 03/22/2033		195,000			199,612
5.10%, 03/22/2043		85,000			85,678
5.20%, 03/22/2063		81,000			81,112
					618,412

Pharmaceuticals-1.04%
AstraZeneca Finance LLC (United Kingdom), 4.90%, 02/26/2031		202,000			207,672
Bristol-Myers Squibb Co.,
4.90%, 02/22/2029		55,000			56,413
5.10%, 02/22/2031		70,000			72,396
5.90%, 11/15/2033		128,000			139,493
6.25%, 11/15/2053		81,000			91,446
6.40%, 11/15/2063		122,000			139,842
Eli Lilly and Co.,
4.70%, 02/09/2034		138,000			139,820
5.00%, 02/09/2054		2,000			1,993
5.05%, 08/14/2054		264,000			265,222
5.10%, 02/09/2064		161,000			160,760
5.20%, 08/14/2064		74,000			75,012
Endo Finance Holdings, Inc., 8.50%, 04/15/2031 (b)		86,000			91,421
Merck & Co., Inc.,
5.00%, 05/17/2053		88,000			86,706
5.15%, 05/17/2063		51,000			50,841
Pfizer Investment Enterprises Pte. Ltd.,
4.45%, 05/19/2028		224,000			225,156
4.75%, 05/19/2033		180,000			181,053
					1,985,246

Precious Metals & Minerals-0.11%
Anglo American Capital PLC (South Africa), 5.75%, 04/05/2034 (b)		200,000			205,832

Property & Casualty Insurance-0.35%
Fairfax Financial Holdings Ltd. (Canada),
6.35%, 03/22/2054 (b)		152,000			158,829
6.10%, 03/15/2055 (b)		326,000			330,057
Markel Group, Inc., 6.00%, 05/16/2054		94,000			97,501
Travelers Cos., Inc. (The), 5.45%, 05/25/2053		76,000			79,611
					665,998

Rail Transportation-0.57%
Burlington Northern Santa Fe LLC,
5.20%, 04/15/2054		218,000			219,232
Norfolk Southern Corp.,
5.05%, 08/01/2030		36,000			37,141
5.55%, 03/15/2034		99,000			104,678
5.35%, 08/01/2054		102,000			102,464
5.95%, 03/15/2064		140,000			151,696
Union Pacific Corp.,
4.50%, 01/20/2033		233,000			232,846
5.15%, 01/20/2063		248,000			242,140
					1,090,197

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


16		Invesco Bond Fund


	Principal Amount		Value
Real Estate Development-0.65%
Cushman & Wakefield U.S. Borrower LLC, 8.88%, 09/01/2031 (b)	$	85,000		$ 92,123
Greystar Real Estate Partners LLC, 7.75%, 09/01/2030 (b)		84,000		89,644
Piedmont Operating Partnership L.P.,
9.25%, 07/20/2028		745,000		824,114
6.88%, 07/15/2029		228,000		237,013
				1,242,894

Regional Banks-0.59%
Citizens Financial Group, Inc.,
3.25%, 04/30/2030		20,000		18,362
5.64%, 05/21/2037 (c)		160,000		154,770
Huntington Bancshares, Inc., 4.44%, 08/04/2028 (c)		72,000		71,804
Regions Financial Corp., 5.72%, 06/06/2030 (c)		195,000		200,166
Truist Financial Corp.,
6.05%, 06/08/2027 (c)		145,000		148,043
7.16%, 10/30/2029 (c)		165,000		179,342
5.44%, 01/24/2030 (c)		34,000		34,885
4.92%, 07/28/2033 (c)		27,000		26,126
6.12%, 10/28/2033 (c)		122,000		129,814
5.87%, 06/08/2034 (c)		161,000		168,306
				1,131,618

Reinsurance-0.93%
Global Atlantic (Fin) Co.,
4.40%, 10/15/2029 (b)		563,000		537,999
3.13%, 06/15/2031 (b)		15,000		12,830
4.70%, 10/15/2051 (b)(c)		407,000		382,609
6.75%, 03/15/2054 (b)		299,000		306,429
7.95%, 10/15/2054 (b)(c)		117,000		119,977
Swiss Re Subordinated Finance PLC (United Kingdom), 5.70%, 04/05/2035 (b)(c)		400,000		411,284
				1,771,128

Renewable Electricity-0.02%
Idaho Power Co., 5.20%, 08/15/2034		43,000		43,746

Research & Consulting Services-0.10%
Dun & Bradstreet Corp. (The), 5.00%, 12/15/2029 (b)		195,000		193,247

Restaurants-0.07%
McDonald's Corp., 5.45%, 08/14/2053		127,000		128,678

Retail REITs-0.60%
Agree L.P., 5.63%, 06/15/2034		94,000		96,990
Brixmor Operating Partnership L.P., 5.75%, 02/15/2035		70,000		72,472
Kimco Realty OP LLC, 2.25%, 12/01/2031		13,000		10,890
Kite Realty Group L.P.,
4.95%, 12/15/2031		113,000		111,656
5.50%, 03/01/2034		40,000		40,577
Kite Realty Group Trust, 4.75%, 09/15/2030		117,000		115,951


	Principal Amount		Value
Retail REITs-(continued)
NNN REIT, Inc.,
5.60%, 10/15/2033	$	70,000		$ 72,019
5.50%, 06/15/2034		95,000		97,196
Realty Income Corp.,
4.85%, 03/15/2030		33,000		33,480
5.63%, 10/13/2032		117,000		122,788
5.38%, 09/01/2054		52,000		51,325
Regency Centers L.P.,
4.13%, 03/15/2028		136,000		134,355
5.25%, 01/15/2034		98,000		99,823
5.10%, 01/15/2035		74,000		74,266
				1,133,788

Security & Alarm Services-0.05%
Brink's Co. (The), 6.75%, 06/15/2032 (b)		90,000		93,692

Self-Storage REITs-0.40%
Extra Space Storage L.P.,
5.70%, 04/01/2028		52,000		53,708
2.55%, 06/01/2031		28,000		24,117
5.40%, 02/01/2034		186,000		189,435
Public Storage Operating Co.,
5.13%, 01/15/2029		29,000		29,914
5.10%, 08/01/2033		198,000		202,979
5.35%, 08/01/2053		267,000		269,660
				769,813

Semiconductors-0.81%
Broadcom, Inc., 4.30%, 11/15/2032		197,000		190,337
Foundry JV Holdco LLC,
6.15%, 01/25/2032 (b)		250,000		257,639
5.88%, 01/25/2034 (b)		451,000		453,279
6.25%, 01/25/2035 (b)		333,000		342,133
Micron Technology, Inc.,
4.98%, 02/06/2026		130,000		130,402
5.30%, 01/15/2031		120,000		123,075
2.70%, 04/15/2032		30,000		25,712
Skyworks Solutions, Inc., 3.00%, 06/01/2031		13,000		11,361
				1,533,938

Single-Family Residential REITs-0.17%
American Homes 4 Rent L.P., 5.50%, 07/15/2034		222,000		226,545
Ashton Woods USA LLC/Ashton Woods Finance Co., 6.63%, 01/15/2028 (b)		85,000		85,693
Invitation Homes Operating Partnership L.P., 2.30%, 11/15/2028		11,000		9,993
				322,231

Soft Drinks & Non-alcoholic Beverages-0.37%
Coca-Cola Co. (The),
5.00%, 05/13/2034		155,000		161,206
5.30%, 05/13/2054		210,000		218,070
5.40%, 05/13/2064		316,000		327,393
				706,669

Sovereign Debt-2.05%
Abu Dhabi Government International Bond (United Arab Emirates), 5.50%, 04/30/2054 (b)		200,000		215,250

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


17		Invesco Bond Fund


	Principal Amount		Value
Sovereign Debt-(continued)
Banque Ouest Africaine de Developpement (Supranational), 5.00%, 07/27/2027 (b)	$	200,000		$ 194,569
Brazilian Government International Bond (Brazil),
6.13%, 01/22/2032		378,000		384,450
6.13%, 03/15/2034		76,000		76,965
Colombia Government International Bond (Colombia), 7.50%, 02/02/2034		215,000		222,375
Costa Rica Government International Bond (Costa Rica), 7.30%, 11/13/2054 (b)		255,000		276,437
Guatemala Government Bond (Guatemala), 6.05%, 08/06/2031 (b)		200,000		204,208
Mexico Government International Bond (Mexico),
6.35%, 02/09/2035		200,000		208,246
6.00%, 05/07/2036		215,000		217,077
6.40%, 05/07/2054		325,000		321,870
Peruvian Government International Bond (Peru), 5.38%, 02/08/2035		84,000		85,334
Philippine Government International Bond (Philippines), 5.18%, 09/05/2049		321,000		317,084
Romanian Government International Bond (Romania),
6.63%, 02/17/2028 (b)		190,000		197,937
5.88%, 01/30/2029 (b)		124,000		126,575
7.13%, 01/17/2033 (b)		150,000		162,472
Saudi Government International Bond (Saudi Arabia),
4.75%, 01/16/2030 (b)		41,000		41,677
5.00%, 01/16/2034 (b)		267,000		272,165
5.75%, 01/16/2054 (b)		120,000		123,429
Trinidad & Tobago Government International Bond (Trinidad), 6.40%, 06/26/2034 (b)		255,000		260,578
				3,908,698

Specialized Consumer Services-0.23%
Allwyn Entertainment Financing (UK) PLC (Czech Republic), 7.88%, 04/30/2029 (b)		200,000		208,388
Carriage Services, Inc., 4.25%, 05/15/2029 (b)		252,000		232,935
				441,323

Specialized Finance-0.51%
Blackstone Private Credit Fund, 6.25%, 01/25/2031 (b)		97,000		99,292
Jefferson Capital Holdings LLC, 9.50%, 02/15/2029 (b)		163,000		174,050
SMBC Aviation Capital Finance DAC (Ireland),
5.30%, 04/03/2029 (b)		200,000		203,670
5.55%, 04/03/2034 (b)		479,000		487,324
				964,336

Specialty Chemicals-0.80%
Eastman Chemical Co., 5.00%, 08/01/2029		98,000		99,484


	Principal Amount		Value
Specialty Chemicals-(continued)
Sasol Financing USA LLC (South Africa),
4.38%, 09/18/2026	$	353,000		$ 339,766
8.75%, 05/03/2029 (b)		270,000		282,171
5.50%, 03/18/2031		591,000		520,307
Sociedad Quimica y Minera de Chile S.A. (Chile), 6.50%, 11/07/2033 (b)		265,000		285,640
				1,527,368

Steel-0.39%
ArcelorMittal S.A. (Luxembourg), 6.55%, 11/29/2027		259,000		273,232
Cleveland-Cliffs, Inc.,
7.00%, 03/15/2032 (b)		89,000		89,490
6.25%, 10/01/2040		55,000		48,501
POSCO (South Korea), 5.63%, 01/17/2026 (b)		200,000		202,131
Vale Overseas Ltd. (Brazil), 6.40%, 06/28/2054		125,000		127,734
				741,088

Systems Software-0.57%
Camelot Finance S.A., 4.50%, 11/01/2026 (b)		93,000		91,143
Oracle Corp.,
6.25%, 11/09/2032		481,000		524,349
4.90%, 02/06/2033		180,000		180,205
6.90%, 11/09/2052		244,000		284,422
				1,080,119

Technology Hardware, Storage & Peripherals-0.19%
Apple, Inc., 4.10%, 08/08/2062		207,000		178,407
Seagate HDD Cayman, 9.63%, 12/01/2032		159,000		183,464
				361,871

Tobacco-0.31%
B.A.T Capital Corp. (United Kingdom),
6.00%, 02/20/2034		114,000		120,274
7.08%, 08/02/2043		30,000		33,481
Philip Morris International, Inc.,
4.88%, 02/15/2028		14,000		14,201
5.25%, 09/07/2028		201,000		206,923
4.88%, 02/13/2029		7,000		7,120
5.63%, 11/17/2029		16,000		16,856
5.13%, 02/13/2031		77,000		79,015
5.75%, 11/17/2032		85,000		89,980
5.63%, 09/07/2033		30,000		31,517
				599,367

Trading Companies & Distributors-1.40%
AerCap Global Aviation Trust (Ireland), 6.50%, 06/15/2045 (b)(c)		1,208,000		1,205,198
Air Lease Corp., Series B, 4.65% (c)(d)		95,000		91,826
Aircastle Ltd., 5.25% (b)(c)(d)		186,000		183,211
BlueLinx Holdings, Inc., 6.00%, 11/15/2029 (b)		96,000		92,408
Fortress Transportation and Infrastructure Investors LLC,
5.50%, 05/01/2028 (b)		93,000		92,484
7.88%, 12/01/2030 (b)		249,000		267,454
7.00%, 05/01/2031 (b)		154,000		161,527
7.00%, 06/15/2032 (b)		101,000		105,729

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


18		Invesco Bond Fund


	Principal Amount		Value
Trading Companies & Distributors-(continued)
Mitsubishi Corp. (Japan),
5.00%, 07/02/2029 (b)	$	200,000		$ 206,113
5.13%, 07/17/2034 (b)		252,000		259,793
				2,665,743

Transaction & Payment Processing Services-0.53%
Fiserv, Inc.,
5.38%, 08/21/2028		244,000		251,844
5.63%, 08/21/2033		191,000		199,957
5.45%, 03/15/2034		309,000		318,678
Mastercard, Inc., 4.85%, 03/09/2033		240,000		247,230
				1,017,709

Wireless Telecommunication Services-1.12%
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC,
4.74%, 03/20/2025 (b)		138,750		138,373
5.15%, 03/20/2028 (b)		1,220,250		1,227,024
T-Mobile USA, Inc.,
4.50%, 04/15/2050		148,000		128,506
5.65%, 01/15/2053		218,000		223,866
6.00%, 06/15/2054		63,000		68,086
Vodafone Group PLC (United Kingdom),
5.75%, 02/10/2063		47,000		46,642
4.13%, 06/04/2081 (c)		223,000		200,781
5.13%, 06/04/2081 (c)		119,000		93,578
				2,126,856
Total U.S. Dollar Denominated Bonds & Notes (Cost $167,458,593)		170,731,424

	Shares
Preferred Stocks-4.29%
Diversified Banks-2.28%
Bank of America Corp., 6.50%, Series Z, Pfd. (c)		433,000		433,807
Citigroup, Inc., 6.25%, Series T, Pfd. (c)		371,000		375,123
Citigroup, Inc., 5.00%, Series U, Pfd. (c)		790,000		788,753
Citigroup, Inc., 4.00%, Series W, Pfd. (c)		308,000		300,200
Wells Fargo & Co., 7.50%, Class A, Series L, Conv. Pfd.		1,992		2,434,224
				4,332,107

Diversified Financial Services-0.25%
Apollo Global Management, Inc., 7.63%, Pfd. (c)		17,750		468,422

Investment Banking & Brokerage-1.58%
Goldman Sachs Group, Inc. (The), 8.24% (3 mo. Term SOFR + 3.14%), Series P, Pfd. (e)		408,000		409,075
Morgan Stanley, 7.13% (3 mo. USD LIBOR + 4.32%), Series E, Pfd.		62,725		1,588,197
Morgan Stanley, 6.88% (3 mo. USD LIBOR + 3.94%), Series F, Pfd.		40,000		1,012,400
				3,009,672

Regional Banks-0.18%
M&T Bank Corp., 7.50%, Series J, Pfd.		12,854		348,215
Total Preferred Stocks (Cost $8,191,563)		8,158,416


	Principal Amount		Value
U.S. Treasury Securities-2.77%
U.S. Treasury Bills-0.67%
5.27% - 5.31%, 09/05/2024 (i)(j)	$	700,000		$ 699,597
4.78%, 01/30/2025 (i)(j)		577,000		565,719
				1,265,316

U.S. Treasury Bonds-0.87%
4.13%, 08/15/2044		533,700		520,900
4.63%, 05/15/2054		1,067,500		1,141,224
				1,662,124

U.S. Treasury Notes-1.23%
4.00%, 07/31/2029		1,183,500		1,197,647
4.13%, 07/31/2031		41,000		41,775
3.88%, 08/15/2034		1,112,100		1,108,190
				2,347,612
Total U.S. Treasury Securities (Cost $5,299,279)		5,275,052

Asset-Backed Securities-1.76%
Jimmy John's Funding LLC, Series 2017-1A, Class A2II,
4.85%, 07/30/2047 (b)		368,691		363,196
Qdoba Funding LLC, Series 2023-1A, Class A2, 8.50%, 09/14/2053 (b)		462,840		492,493
Sonic Capital LLC, Series 2020-1A, Class A2I, 3.85%,
01/20/2050 (b)		305,280		295,087
Series 2021-1A, Class A2I, 2.19%, 08/20/2051 (b)		203,875		181,971
Series 2021-1A, Class A2II, 2.64%, 08/20/2051 (b)		203,875		170,255
Subway Funding LLC,
Series 2024-1A, Class A23, 6.51%, 07/30/2054 (b)		233,000		244,350
Series 2024-1A, Class A2I, 6.03%, 07/30/2054 (b)		256,000		263,292
Series 2024-1A, Class A2I, 6.27%, 07/30/2054 (b)		254,000		264,082
Wendy's Funding LLC, Series 2018-1A,
Class A2II, 3.88%, 03/15/2048 (b)		626,389		604,635
Zaxby's Funding LLC, Series 2024-1A,
Class A2I, 6.59%, 04/30/2054 (b)		150,000		155,833
Ziply Fiber Issuer LLC, Series 2024-1A,
Class A2, 6.64%, 04/20/2054 (b)		308,000		317,610
Total Asset-Backed Securities (Cost $3,370,359)		3,352,804

Municipal Obligations-0.13%
California (State of) Health Facilities Financing Authority (Social Bonds), Series 2022, RB, 4.19%, 06/01/2037		145,000		138,733
Series 2022, RB, 4.35%, 06/01/2041		110,000		103,562
Total Municipal Obligations (Cost $255,000)		242,295

Variable Rate Senior Loan Interests-0.09% (k)(l)
Gas Utilities-0.04%
NGL Energy Operating LLC, Term Loan, 9.00% (1 mo. Term SOFR + 3.75%), 02/03/2031		77,805		77,784

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


19		Invesco Bond Fund


	Principal Amount		Value
Leisure Products-0.05%
Amer Sports (Finland), Term Loan B,
8.35% (3 mo. Term SOFR +
3.25%), 02/10/2031	$	97,267		$ 97,663
Total Variable Rate Senior Loan Interests (Cost $174,245)		175,447



Non-U.S. Dollar Denominated Bonds & Notes-0.06% (m)
Health Care REITs-0.06%
MPT Operating Partnership L.P./MPT Finance Corp., 3.33%, 03/24/2025 (Cost $103,014)		EUR 100,000		107,041


	Shares	Value
Options Purchased-0.03% (Cost $55,190) (n)	$ 56,460


TOTAL INVESTMENTS IN SECURITIES-98.81% (Cost $184,907,243)	188,098,939


OTHER ASSETS LESS LIABILITIES-1.19%	2,270,971


NET ASSETS-100.00%	$190,369,910

Investment Abbreviations:


Conv.		- Convertible
EUR		- Euro
LIBOR		- London Interbank Offered Rate
Pfd.		- Preferred
RB		- Revenue Bonds
REIT		- Real Estate Investment Trust
SOFR		- Secured Overnight Financing Rate
USD		- U.S. Dollar

Notes to 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)

Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at August 31, 2024 was $66,925,505, which represented 35.16% of the Fund's Net Assets.

(c)	Security issued at a fixed rate for a specific period of time, after which it will convert to a variable rate.

(d)	Perpetual bond with no specified maturity date.

(e)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2024.

(f)	Zero coupon bond issued at a discount.

(g)	Defaulted security. Currently, the issuer is in default with respect to principal and/or interest payments. The aggregate value of these securities at August 31, 2024 was $61,920, which represented less than 1% of the Fund's Net Assets.

(h)	Security valued using significant unobservable inputs (Level 3). See Note 3.

(i)	All or a portion of the value was pledged as collateral to cover margin requirements for open futures contracts. See Note 1J.

(j)	Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.

(k)

Variable rate senior loan interests often require prepayments from excess cash flow or permit the borrower to repay at its election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with any accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, it is anticipated that the variable rate senior loan interests will have an expected average life of three to five years.

(l)

Variable rate senior loan interests are, at present, not readily marketable, not registered under the Securities Act of 1933, as amended (the "1933 Act") and may be subject to contractual and legal restrictions on sale. Variable rate senior loan interests in the Fund's portfolio generally have variable rates which adjust to a base, such as the Secured Overnight Financing Rate ("SOFR"), on set dates, typically every 30 days, but not greater than one year, and/or have interest rates that float at margin above a widely recognized base lending rate such as the Prime Rate of a designated U.S. bank.

(m)	Foreign denominated security. Principal amount is denominated in the currency indicated.

(n)	The table below details options purchased.


	Value February 29, 2024		Purchases at Cost	Proceeds from Sales		Change in Unrealized Appreciation	Realized Gain		Value August 31, 2024		Dividend Income
Investments in Affiliated Money Market Funds:
Invesco Government & Agency Portfolio, Institutional Class		$	2		$	6,760,012		$	(6,760,014	)		$	-	$	-	$	-	$	7,796
Invesco Liquid Assets Portfolio, Institutional Class			-			4,094,066			(4,094,092	)			-		26		-		4,740
Invesco Treasury Portfolio, Institutional Class			2			8,460,241			(8,460,243	)			-		-		-		9,777
Total		$	4		$	19,314,319		$	(19,314,349	)		$	-	$	26	$	-	$	22,313

Open Exchange-Traded Index Options Purchased

Description

Type of
Contract

Expiration
Date

Number of
Contracts

Exercise

Price

Notional

Value

Equity Risk

S&P 500 Index

Call

01/17/2025

USD 5,725.00

USD 1,717,500

56,460

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


20		Invesco Bond Fund


Open Futures Contracts
Long Futures Contracts	Number of Contracts	Expiration Month	Notional Value	Value	Unrealized Appreciation (Depreciation)
Interest Rate Risk
U.S. Treasury 2 Year Notes		20		December-2024		$	4,150,937		$	(7,538	)			$	(7,538	)
U.S. Treasury 5 Year Notes		104		December-2024			11,377,438			(33,526	)				(33,526	)
U.S. Treasury Long Bonds		86		December-2024			10,588,750			(137,255	)				(137,255	)
U.S. Treasury Ultra Bonds		34		December-2024			4,485,875			(75,774	)				(75,774	)
Subtotal-Long Futures Contracts													(254,093	)				(254,093	)

Short Futures Contracts
Interest Rate Risk
U.S. Treasury 10 Year Notes		6		December-2024			(681,375	)			3,690				3,690
U.S. Treasury 10 Year Ultra Notes		86		December-2024			(10,099,625	)			76,407				76,407
Subtotal-Short Futures Contracts													80,097				80,097
Total Futures Contracts												$	(173,996	)			$	(173,996	)

Open Forward Foreign Currency Contracts

Settlement

Contract to

Unrealized

Appreciation

Date

Counterparty

Deliver

Receive

(Depreciation)

Currency Risk

11/25/2024

Barclays Bank PLC

EUR 84,000

USD 92,419

(778

)

Abbreviations:

EUR -Euro

USD -U.S. Dollar

Portfolio Composition

By security type, based on Net Assets

as of August 31, 2024


U.S. Dollar Denominated Bonds & Notes	89.68	%
Preferred Stocks	4.29
U.S. Treasury Securities	2.77
Asset-Backed Securities	1.76
Security Types Each Less Than 1% of Portfolio	0.31
Money Market Funds Plus Other Assets Less Liabilities	1.19

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


21		Invesco Bond Fund

Statement of Assets and Liabilities

August 31, 2024

(Unaudited)


Assets:
Investments in unaffiliated securities, at value (Cost $184,907,243)	$	188,098,939
Foreign currencies, at value (Cost $4,822)		4,798
Receivable for:
Investments sold		1,174,108
Dividends		49,369
Interest		2,462,893
Investment for trustee deferred compensation and retirement plans		25,539
Total assets		191,815,646

Liabilities:
Other investments:
Variation margin payable - futures contracts		67,136
Unrealized depreciation on forward foreign currency contracts outstanding		778
Payable for:
Investments purchased		955,270
Dividends		54,644
Amount due custodian		183,568
Accrued fees to affiliates		17,126
Accrued trustees' and officers' fees and benefits		560
Accrued other operating expenses		141,115
Trustee deferred compensation and retirement plans		25,539
Total liabilities		1,445,736
Net assets applicable to common shares	$	190,369,910


Net assets applicable to common shares consist of:
Shares of beneficial interest	$	219,694,983
Distributable earnings (loss)		(29,325,073	)
	$	190,369,910

Common shares outstanding, no par value, with an unlimited number of common shares authorized:
Shares outstanding		11,418,446
Net asset value per common share	$	16.67
Market value per common share	$	16.69

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


22		Invesco Bond Fund

Statement of Operations

For the six months ended August 31, 2024

(Unaudited)


Investment income:
Interest (net of foreign withholding taxes of $245)	$	5,224,353


Dividends		182,550


Dividends from affiliated money market funds		22,313

Total investment income		5,429,216


Expenses:

Advisory fees		392,672



Administrative services fees		13,658



Custodian fees		11,255



Transfer agent fees		22,964



Trustees' and officers' fees and benefits		11,227



Registration and filing fees		11,952



Reports to shareholders		110,591



Professional services fees		45,762



Other		2,728

Total expenses		622,809


Less: Fees waived		(351	)

Net expenses		622,458


Net investment income		4,806,758


Realized and unrealized gain (loss) from:

Net realized gain (loss) from:
Unaffiliated investment securities		(23,627	)


Affiliated investment securities		26


Foreign currencies		1,205


Forward foreign currency contracts		(1,271	)


Futures contracts		724,521


Option contracts written		(46,425	)

	654,429

Change in net unrealized appreciation (depreciation) of:
Unaffiliated investment securities		5,464,061


Foreign currencies		249


Forward foreign currency contracts		1,210


Futures contracts		(243,411	)

	5,222,109

Net realized and unrealized gain		5,876,538

Net increase in net assets resulting from operations	$	10,683,296

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


23		Invesco Bond Fund

Statement of Changes in Net Assets

For the six months ended August 31, 2024 and the year ended February 29, 2024

(Unaudited)


	August 31, 2024			February 29, 2024

Operations:
Net investment income	$	4,806,758			$	9,239,854

Net realized gain (loss)		654,429				(16,021,223	)

Change in net unrealized appreciation		5,222,109				15,167,297

Net increase in net assets resulting from operations		10,683,296				8,385,928

Distributions to common shareholders from distributable earnings		(4,715,818	)			(9,250,107	)

Net increase in common shares of beneficial interest		-				46,985

Net increase (decrease) in net assets		5,967,478				(817,194	)


Net assets:
Beginning of period		184,402,432				185,219,626

End of period	$	190,369,910			$	184,402,432

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


24		Invesco Bond Fund

Financial Highlights

(Unaudited)

The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.


	Six Months Ended August 31,			Year Ended February 29,		Years Ended February 28,	Year ended February 29,
	2024			2024		2023	2022		2021			2020

Net asset value, beginning of period		$ 16.15			$ 16.23		$ 18.91			$ 20.81			$	21.06		$ 19.07

Net investment income (a)		0.42			0.81		0.71			0.65				0.71		0.77

Net gains (losses) on securities (both realized and unrealized)		0.51			(0.08	)	(2.64	)		(1.35	)			0.52		2.27

Total from investment operations		0.93			0.73		(1.93	)		(0.70	)			1.23		3.04

Less:
Dividends from net investment income		(0.41	)		(0.81	)	(0.75	)		(0.66	)			(0.73	)	(0.81	)

Distributions from net realized gains		-			-		(0.00	)		(0.54	)			(0.75	)	(0.24	)

Total distributions		(0.41	)		(0.81	)	(0.75	)		(1.20	)			(1.48	)	(1.05	)

Net asset value, end of period		$ 16.67			$ 16.15		$ 16.23			$ 18.91			$	20.81		$ 21.06

Market value, end of period		$ 16.69			$ 15.76		$ 16.23			$ 17.70			$	19.78		$ 19.51

Total return at net asset value (b)		5.91	%		4.98	%	(10.07	)%		(3.46	)%			6.11	%	16.39	%

Total return at market value (c)		8.66	%		2.44	%	(3.92	)%		(4.94	)%			8.88	%	15.13	%

Net assets, end of period (000's omitted)		$190,370			$184,402		$185,220			$215,871			$	237,591		$239,766

Portfolio turnover rate (d)		72	%		175	%	134	%		137	%			173	%	158	%


Ratios/supplemental data based on average net assets:
Ratio of expenses:

With fee waivers and/or expense reimbursements		0.66	% (e)		0.57	%	0.63	%		0.52	%			0.54	%	0.53	%

Without fee waivers and/or expense reimbursements		0.66	% (e)		0.57	%	0.63	%		0.52	%			0.54	%	0.53	%

Ratio of net investment income to average net assets		5.14	% (e)		5.08	%	4.25	%		3.17	%			3.39	%	3.83	%

(a)	Calculated using average shares outstanding.

(b)

Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Not annualized for periods less than one year, if applicable.

(c)

Total return assumes an investment at the common share market price at the beginning of the period indicated, reinvestment of all distributions for the period in accordance with the Fund's dividend reinvestment plan, and sale of all shares at the closing common share market price at the end of the period indicated. Not annualized for periods less than one year, if applicable.

(d)	Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.

(e)	Annualized.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


25		Invesco Bond Fund

Notes to Financial Statements

August 31, 2024

(Unaudited)

NOTE 1-Significant Accounting Policies

Invesco Bond Fund (the "Fund") is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as a closed-end management investment company.

The Fund's investment objective is to seek interest income while conserving capital.

The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 946,

Financial Services - Investment Companies.

The following is a summary of the significant accounting policies followed by the Fund in the preparation of its financial statements.

A.	Security Valuations - Securities, including restricted securities, are valued according to the following policy.

Fixed income securities (including convertible debt securities) generally are valued on the basis of prices provided by independent pricing services. Prices provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate (for unlisted equities), yield (for debt obligations), quality, type of issue, coupon rate (for debt obligations), maturity (for debt obligations), individual trading characteristics and other market data. Pricing services generally value debt obligations assuming orderly transactions of institutional round lot size, but a fund may hold or transact in the same securities in smaller, odd lot sizes. Odd lots often trade at lower prices than institutional round lots, and their value may be adjusted accordingly. Debt obligations are subject to interest rate and credit risks. In addition, all debt obligations involve some risk of default with respect to interest and/or principal payments.

A security listed or traded on an exchange is generally valued at its trade price or official closing price that day as of the close of the exchange where the security is principally traded, or lacking any trades or official closing price on a particular day, the security may be valued at the closing bid or ask price on that day. Securities traded in the over-the-counter market are valued based on prices furnished by independent pricing services or market makers. When such securities are valued using prices provided by an independent pricing service they may be considered fair valued. Futures contracts are valued at the daily settlement price set by an exchange on which they are principally traded. Where a final settlement price exists, exchange-traded options are valued at the final settlement price from the exchange where the option principally trades. Where a final settlement price does not exist, exchange-traded options are valued at the mean between the last bid and ask price generally from the exchange where the option principally trades.

Securities of investment companies that are not exchange-traded (e.g., open-end mutual funds) are valued using such company's end-of-business-day net asset value per share.

Deposits, other obligations of U.S. and non-U.S. banks and financial institutions are valued at their daily account value.

Foreign securities' (including foreign exchange contracts) prices are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the New York Stock Exchange ("NYSE"). If market quotations are available and reliable for foreign exchange-traded equity securities, the securities will be valued at the market quotations. Invesco Advisers, Inc. (the "Adviser" or "Invesco") may use various pricing services to obtain market quotations as well as fair value prices. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become not representative of market value in the Adviser's judgment ("unreliable"). If, between the time trading ends on a particular security and the close of the customary trading session on the NYSE, a significant event occurs that makes the closing price of the security unreliable, the Adviser may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith in accordance with Board- approved policies and related Adviser procedures ("Valuation Procedures"). Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities' prices meeting the degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, American Depositary Receipts and domestic and foreign index futures. Foreign securities may have additional risks including exchange rate changes, potential for sharply devalued currencies and high inflation, political and economic upheaval, the relative lack of issuer information, relatively low market liquidity and the potential lack of strict financial and accounting controls and standard

Unlisted securities will be valued using prices provided by independent pricing services or by another method that the Adviser, in its judgment, believes better reflects the security's fair value in accordance with the Valuation Procedures.

Non-traded rights and warrants shall be valued at intrinsic value if the terms of the rights and warrants are available, specifically the subscription or exercise price and the ratio. Intrinsic value is calculated as the daily market closing price of the security to be received less the subscription price, which is then adjusted by the exercise ratio. In the case of warrants, an option pricing model supplied by an independent pricing service may be used based on market data such as volatility, stock price and interest rate from the independent pricing service and strike price and exercise period from verified terms.

Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources. The mean between the last bid and ask prices may be used to value debt obligations, including corporate loans.

Securities for which market quotations are not readily available are fair valued by the Adviser in accordance with the Valuation Procedures. If a fair value price provided by a pricing service is unreliable, the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value.

The Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer's assets, general market conditions which are not specifically related to the particular issuer, such as real or perceived adverse economic conditions, changes in the general outlook for revenues or corporate earnings, changes in interest or currency rates, regional or global instability, natural or environmental disasters, widespread disease or other public health issues, war, acts of terrorism, significant governmental actions or adverse investor sentiment generally and market liquidity. 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.

The price the Fund could receive upon the sale of any investment may differ from the Adviser's valuation of the investment, particularly for The price the Fund could receive upon the sale of any investment may differ from the Adviser's valuation of the investment, particularly for securities that are valued using a fair valuation technique. When fair valuation techniques are applied, the Adviser uses available information, including both observable and unobservable inputs and assumptions, to determine a methodology that will result in a valuation that the Adviser believes approximates market value. Fund securities that are fair valued may be subject to greater fluctuation in their value from one day to the next than would be the case if market quotations were used. Because of the inherent uncertainties of valuation, and the degree of subjectivity in such decisions, the Fund could realize a greater or lesser than expected gain or loss upon the sale of the investment.

B.	Securities Transactions and Investment Income - Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are


26		Invesco Bond Fund

computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on an accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Pay-in-kind interest income and non-cash dividend income received in the form of securities in lieu of cash are recorded at the fair value of the securities received. Paydown gains and losses on mortgage and asset-backed securities are recorded as adjustments to interest income. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date.

The Fund may periodically participate in litigation related to Fund investments. As such, the Fund may receive proceeds from litigation settlements.Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.

Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the investment adviser.

Country Determination

- For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted.

D.	Distributions - The Fund declares and pays monthly dividends from net investment income to common shareholders. Distributions from net realized capital gain, if any, are generally declared and paid annually and are distributed on a pro rata basis to common shareholders.

Federal Income Taxes

- The Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Fund's taxable earnings to shareholders. As such, the Fund will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.

The Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

Accounting Estimates

- The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

Indemnifications

- Under the Fund's organizational documents, each Trustee, officer, employee or other agent of the Fund is indemnified against certain liabilities that may arise out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

Foreign Currency Translations

- Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates.

The Fund may invest in foreign securities, which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Foreign taxes, if any, are recorded based on the tax regulations and rates that exist in the foreign markets in which the Fund invests and are shown in the Statement of Operations.

The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar. Currency rates in foreign countries may fluctuate for a number of reasons, including changes in interest rates, political, economic, or social instability and development, and imposition of currency controls. Currency controls in certain foreign jurisdictions may cause the Fund to experience significant delays in its ability to repatriate its assets in U.S. dollars at quoted spot rates, and it is possible that the Fund's ability to convert certain foreign currencies into U.S. dollars may be limited and may occur at discounts to quoted rates. As a result, the value of the Fund's assets and liabilities denominated in such currencies that would ultimately be realized could differ from those reported on the Statement of Assets and Liabilities. Certain foreign companies may be subject to sanctions, embargoes, or other governmental actions that may limit the ability to invest in, receive, hold, or sell the securities of such companies, all of which affect the market and/or credit risk of the investments. 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.

I.	Forward Foreign Currency Contracts - The Fund may engage in foreign currency transactions either on a spot (i.e. for prompt delivery and settlement) basis, or through forward foreign currency contracts, to manage or minimize currency or exchange rate risk.

The Fund may also enter into forward foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security, or the Fund may also enter into forward foreign currency contracts that do not provide for physical exchange of the two currencies on the settlement date, but instead are settled by a single cash payment calculated as the difference between the agreed upon exchange rate and the spot rate at settlement based upon an agreed upon notional amount (non-deliverable forwards).


27		Invesco Bond Fund

A forward foreign currency contract is an obligation between two parties ("Counterparties") to purchase or sell a specific currency for an agreed-upon price at a future date. The use of forward foreign currency contracts for hedging does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with forward foreign currency contracts include failure of the Counterparty to meet the terms of the contract and the value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities.

Futures Contracts

- The Fund may enter into futures contracts to manage exposure to interest rate, equity and market price movements and/or currency risks. A futures contract is an agreement between Counterparties to purchase or sell a specified underlying security, currency or commodity (or delivery of a cash settlement price, in the case of an index future) for a fixed price at a future date. The Fund currently invests only in exchange-traded futures and they are standardized as to maturity date and underlying instrument or asset. Initial margin deposits required upon entering into futures contracts are satisfied by the segregation of specific securities or cash as collateral at the futures commission merchant (broker). During the period the futures contracts are open, changes in the value of the contracts are recognized as unrealized gains or losses by recalculating the value of the contracts on a daily basis. Subsequent or variation margin payments are received or made depending upon whether unrealized gains or losses are incurred. These amounts are reflected as receivables or payables on the Statement of Assets and Liabilities. When the contracts are closed or expire, the Fund recognizes a realized gain or loss equal to the difference between the proceeds from, or cost of, the closing transaction and the Fund's basis in the contract. The net realized gain (loss) and the change in unrealized gain (loss) on futures contracts held during the period is included on the Statement of Operations. The primary risks associated with futures contracts are market risk and the absence of a liquid secondary market. If the Fund were unable to liquidate a futures contract and/or enter into an offsetting closing transaction, the Fund would continue to be subject to market risk with respect to the value of the contracts and continue to be required to maintain the margin deposits on the futures contracts. Futures contracts have minimal Counterparty risk since the exchange's clearinghouse, as Counterparty to all exchange-traded futures, guarantees the futures against default. Risks may exceed amounts recognized in the Statement of Assets and Liabilities.

Call Options Purchased and Written

- The Fund may write covered call options and/or buy call options. A covered call option gives the purchaser of such option the right to buy, and the writer the obligation to sell, the underlying security or foreign currency at the stated exercise price during the option period. Options written by the Fund normally will have expiration dates between three and nine months from the date written. The exercise price of a call option may be below, equal to, or above the current market value of the underlying security at the time the option is written.

Additionally, the Fund may enter into an option on a swap agreement, also called a "swaption". A swaption is an option that gives the buyer the right, but not the obligation, to enter into a swap on a future date in exchange for paying a market-based premium. A receiver swaption gives the owner the right to receive the total return of a specified asset, reference rate or index. Swaptions also include options that allow an existing swap to be terminated or extended by one of the Counterparties.

When the Fund writes a covered call option, an amount equal to the premium received by the Fund is recorded as an asset and an equivalent liability in the Statement of Assets and Liabilities. The amount of the liability is subsequently "marked-to-market" to reflect the current market value of the option written. If a written covered call option expires on the stipulated expiration date, or if the Fund enters into a closing purchase transaction, the Fund realizes a gain (or a loss if the closing purchase transaction exceeds the premium received when the option was written) without regard to any unrealized gain or loss on the underlying security, and the liability related to such option is extinguished. If a written covered call option is exercised, the Fund realizes a gain or a loss from the sale of the underlying security and the proceeds of the sale are increased by the premium originally received. Realized and unrealized gains and losses on call options written are included in the Statement of Operations as Net realized gain (loss) from and Change in net unrealized appreciation (depreciation) of Option contracts written. A risk in writing a covered call option is that the Fund gives up the opportunity for profit if the market price of the security increases and the option is exercised.

When the Fund buys a call option, an amount equal to the premium paid by the Fund is recorded as an investment on the Statement of Assets and Liabilities. The amount of the investment is subsequently "marked-to-market" to reflect the current value of the option purchased. Realized and unrealized gains and losses on call options purchased are included in the Statement of Operations as Net realized gain (loss) from and Change in net unrealized appreciation (depreciation) of Investment securities. A risk in buying an option is that the Fund pays a premium whether or not the option is exercised. In addition, there can be no assurance that a liquid secondary market will exist for any option purchased.

L.	Leverage Risk - Leverage exists when the Fund can lose more than it originally invests because it purchases or sells an instrument or enters into a transaction without investing an amount equal to the full economic exposure of the instrument or transaction.

M.	Collateral - To the extent the Fund has designated or segregated a security as collateral and that security is subsequently sold, it is the Fund's practice to replace such collateral no later than the next business day.

N.	Other Risks - Active trading of portfolio securities may result in added expenses, a lower return and increased tax liability.

Increases in the federal funds and equivalent foreign rates or other changes to monetary policy or regulatory actions may expose fixed income markets to heightened volatility, perhaps suddenly and to a significant degree, and to reduced liquidity for certain fixed income investments, particularly those with longer maturities. Such changes and resulting increased volatility may adversely impact the Fund, including its operations, universe of potential investment options, and return potential. It is difficult to predict the impact of interest rate changes on various markets. In addition, decreases in fixed income dealer market-making capacity may also potentially lead to heightened volatility and reduced liquidity in the fixed income markets. As a result, the value of the Fund's investments and share price may decline. Changes in central bank policies and other governmental actions and political events within the U.S. and abroad may also, among other things, affect investor and consumer expectations and confidence in the financial markets. This could result in higher than normal redemptions by shareholders, which could potentially increase the Fund's portfolio turnover rate and transaction costs.

There is a possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may occur quickly and without advanced warning following sudden market downturns or unexpected developments involving an issuer, and which may adversely affect the liquidity and value of the security.

Investments in high yield debt securities ("junk bonds") and other lower-rated securities will subject the Fund to substantial risk of loss. These securities are considered to be speculative with respect to the issuer's ability to pay interest and principal when due, are more susceptible to default or decline in market value and are less liquid than investment grade debt securities. Prices of high yield debt securities tend to be very volatile.

NOTE 2-Advisory Fees and Other Fees Paid to Affiliates

The Fund has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, the Fund accrues daily and pays monthly an advisory fee to the Adviser based on the annual rate of the Fund's average daily net assets as follows:


Average Daily Net Assets	Rate
First $500 million		0.420%
Over $500 million		0.350%

For the six months ended August 31, 2024, the effective advisory fee rate incurred by the Fund was 0.42%.


28		Invesco Bond Fund

Under the terms of a master sub-advisory agreement between the Adviser and each of Invesco Asset Management Deutschland GmbH, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Affiliated Sub-Adviser(s).

The Adviser has contractually agreed, through at least June 30, 2026, to waive the advisory fee payable by the Fund in an amount equal to 100% of the net advisory fees the Adviser receives from the affiliated money market funds on investments by the Fund of uninvested cash in such affiliated money market funds.

For the six months ended August 31, 2024, the Adviser waived advisory fees of $351.

The Fund has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the six months ended August 31, 2024, expenses incurred under this agreement are shown in the Statement of Operations as

Administrative services fees

. Invesco has entered into a sub-administration agreement whereby State Street Bank and Trust Company ("SSB") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, SSB also serves as the Fund's custodian.

Certain officers and trustees of the Fund are officers and directors of Invesco.

NOTE 3-Additional Valuation Information

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 significant events due to market movements occur, 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 the Adviser'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 August 31, 2024. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.


	Level 1			Level 2			Level 3		Total


Investments in Securities


U.S. Dollar Denominated Bonds & Notes	$	-			$	169,802,226		$	929,198	$	170,731,424


Preferred Stocks		5,851,458				2,306,958			-		8,158,416


U.S. Treasury Securities		-				5,275,052			-		5,275,052


Asset-Backed Securities		-				3,352,804			-		3,352,804


Municipal Obligations		-				242,295			-		242,295


Variable Rate Senior Loan Interests		-				175,447			-		175,447


Non-U.S. Dollar Denominated Bonds & Notes		-				107,041			-		107,041


Options Purchased		56,460				-			-		56,460


Total Investments in Securities		5,907,918				181,261,823			929,198		188,098,939



Other Investments - Assets*


Futures Contracts		80,097				-			-		80,097



Other Investments - Liabilities*


Futures Contracts		(254,093	)			-			-		(254,093	)


Forward Foreign Currency Contracts		-				(778	)		-		(778	)


	(254,093	)			(778	)		-		(254,871	)


Total Other Investments		(173,996	)			(778	)		-		(174,774	)


Total Investments	$	5,733,922			$	181,261,045			$929,198	$	187,924,165

*	Forward foreign currency contracts and futures contracts are valued at unrealized appreciation (depreciation).

NOTE 4-Derivative Investments

The Fund may enter into an International Swaps and Derivatives Association Master Agreement ("ISDA Master Agreement") under which a fund may trade OTC derivatives. An OTC transaction entered into under an ISDA Master Agreement typically involves a collateral posting arrangement, payment netting provisions and close-out netting provisions. These netting provisions allow for reduction of credit risk through netting of contractual obligations. The enforceability of the netting provisions of the ISDA Master Agreement depends on the governing law of the ISDA Master Agreement, among other factors.

For financial reporting purposes, the Fund does not offset OTC derivative assets or liabilities that are subject to ISDA Master Agreements in the Statement of Assets and Liabilities.


29		Invesco Bond Fund

Value of Derivative Investments at Period-End

The table below summarizes the value of the Fund's derivative investments, detailed by primary risk exposure, held as of August 31, 2024:


	Value
Derivative Assets	Equity Risk			Interest Rate Risk			Total


Unrealized appreciation on futures contracts -Exchange-Traded (a)	$	-			$	80,097		$	80,097


Options purchased, at value - Exchange-Traded (b)		56,460				-			56,460


Total Derivative Assets		56,460				80,097			136,557


Derivatives not subject to master netting agreements		(56,460	)			(80,097	)		(136,557	)


Total Derivative Assets subject to master netting agreements	$	-			$	-		$	-



	Value
Derivative Liabilities	Currency Risk			Interest Rate Risk			Total


Unrealized depreciation on futures contracts -Exchange-Traded (a)	$	-			$	(254,093	)	$	(254,093	)


Unrealized depreciation on forward foreign currency contracts outstanding		(778	)			-			(778	)


Total Derivative Liabilities		(778	)			(254,093	)		(254,871	)


Derivatives not subject to master netting agreements		-				254,093			254,093


Total Derivative Liabilities subject to master netting agreements	$	(778	)		$	-		$	(778	)

(a)	The daily variation margin receivable (payable) at period end is recorded in the Statement of Assets and Liabilities.

(b)	Options purchased, at value as reported in the Schedule of Investments.

Offsetting Assets and Liabilities

The table below reflects the Fund's exposure to Counterparties subject to either an ISDA Master Agreement or other agreement for OTC derivative transactions as of August 31, 2024.


	Financial Derivative Liabilities		Collateral (Received)/Pledged
Counterparty	Forward Foreign Currency Contracts	Net Value of Derivatives	Non-Cash	Cash	Net Amount


Barclays Bank PLC	$(778)	$(778)	$-	$-	$(778)

Effect of Derivative Investments for the six months ended August 31, 2024

The table below summarizes the gains (losses) on derivative investments, detailed by primary risk exposure, recognized in earnings during the period:


	Location of Gain (Loss) on Statement of Operations
	Currency			Equity			Interest
	Risk			Risk			Rate Risk		Total


Realized Gain (Loss):
Forward foreign currency contracts	$	(1,271	)		$	-		$	-		$	(1,271	)


Futures contracts		-				-			724,521			724,521


Options purchased (a)		-				190,930			-			190,930


Options written		-				(46,425	)		-			(46,425	)


Change in Net Unrealized Appreciation (Depreciation):
Forward foreign currency contracts		1,210				-			-			1,210


Futures contracts		-				-			(243,411	)		(243,411	)


Options purchased (a)		-				6,760			-			6,760


Total	$	(61	)		$	151,265		$	481,110		$	632,314

(a)	Options purchased are included in the net realized gain (loss) from investment securities and the change in net unrealized appreciation (depreciation) on investment securities.

The table below summarizes the average notional value of derivatives held during the period.


	Forward					Index		Index
	Foreign Currency		Futures			Options		Options
	Contracts		Contracts			Purchased		Written
Average notional value		$300,756		$	42,792,777		$	3,116,417	$	5,812,500
Average contracts		-			-			6		10


30		Invesco Bond Fund

NOTE 5-Trustees' and Officers' Fees and Benefits

Trustees' and Officers' Fees and Benefits

include amounts accrued by the Fund to pay remuneration to certain Trustees and Officers of the Fund. Trustees have the option to defer compensation payable by the Fund, and "

Trustees' and Officers' Fees and Benefits

" includes amounts accrued by the Fund to fund such deferred compensation amounts.

NOTE 6-Cash Balances

The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with SSB, the custodian bank. Such balances, if any at period-end, are shown in the Statement of Assets and Liabilities under the payable caption

Amount due custodian

. To compensate the custodian bank for such overdrafts, the overdrawn Fund may either (1) leave funds as a compensating balance in the account so the custodian bank can be compensated by earning the additional interest; or (2) compensate by paying the custodian bank at a rate agreed upon by the custodian bank and Invesco, not to exceed the contractually agreed upon rate.

NOTE 7-Tax Information

The amount and character of income and gains to be distributed are determined in accordance with income tax regulations, which may differ from GAAP.

Reclassifications are made to the Fund's capital accounts to reflect income and gains available for distribution (or available capital loss carryforward) under income tax regulations. The tax character of distributions paid during the year and the tax components of net assets will be reported at the Fund's fiscal year-end.

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Fund to utilize. The ability to utilize capital loss carryforward in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Fund had a capital loss carryforward as of February 29, 2024, as follows:

Capital Loss Carryforward*

Expiration

Short-Term

Long-Term

Total

Not subject to expiration

$7,622,912

$25,090,845

$32,713,757

*	Capital loss carryforward is reduced for limitations, if any, to the extent required by the Internal Revenue Code and may be further limited depending upon a variety of factors, including the realization of net unrealized gains or losses as of the date of any reorganization.

NOTE 8-Investment Transactions

The aggregate amount of investment securities (other than short-term securities, U.S. Government obligations and money market funds, if any) purchased and sold by the Fund during the six months ended August 31, 2024 was $69,329,590 and $72,437,096, respectively. As of August 31, 2024, the aggregate cost of investments, including any derivatives, on a tax basis listed below includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:


Unrealized Appreciation (Depreciation) of Investments on a Tax Basis


Aggregate unrealized appreciation of investments	$	5,392,642


Aggregate unrealized (depreciation) of investments		(2,733,371	)


Net unrealized appreciation of investments	$	2,659,271

Cost of investments for tax purposes is $185,264,894.

NOTE 9-Common Shares of Beneficial Interest

Transactions in common shares of beneficial interest were as follows:


	Six Months Ended August 31,		Year Ended February 29,
	2024		2024


Beginning shares		11,418,446		11,415,552


Shares issued through dividend reinvestment		-		2,894


Ending shares		11,418,446		11,418,446

The Fund may, when appropriate, purchase shares in the open market or in privately negotiated transactions at a price not above market value or net asset value, whichever is lower at the time of purchase.

NOTE 10-Dividends

The Fund declared the following dividends from net investment income subsequent to August 31, 2024:


Declaration Date	Amount per Share	Record Date		Payable Date


September 3, 2024	$0.0740		September 17, 2024		September 30, 2024


October 1, 2024	$0.0740		October 16, 2024		October 31, 2024


31		Invesco Bond Fund

Approval of Investment Advisory and Sub-Advisory Contracts

At meetings held on June 12, 2024, the Board of Trustees (the Board or the Trustees) of Invesco Bond Fund (the Fund) as a whole, and the independent Trustees, who comprise over 75% of the Board, voting separately, approved the continuance of the Fund's Master Investment Advisory Agreement with Invesco Advisers, Inc. (Invesco Advisers and the investment advisory agreement) and the Master Intergroup Sub-Advisory Contract for Mutual Funds with Invesco Asset Management Deutschland GmbH, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. (collectively, the Affiliated Sub-Advisers and the sub-advisory contracts) for another year, effective July 1, 2024. After evaluating the factors discussed below, among others, the Board approved the renewal of the Fund's investment advisory agreement and the sub-advisory contracts and determined that the compensation payable thereunder by the Fund to Invesco Advisers and by Invesco Advisers to the Affiliated Sub-Advisers is fair and reasonable.

The Board's Evaluation Process

The Board has established an Investments Committee, which in turn has established Sub-Committees, that meet throughout the year to review the performance of funds advised by Invesco Advisers (the Invesco Funds). The Sub-Committees meet regularly with portfolio managers for their assigned Invesco Funds and other members of management to review information about investment performance and portfolio attributes of these funds. The Board has established additional standing and ad hoc committees that meet regularly throughout the year to review matters within their purview, including a working group focused on opportunities to make ongoing and continuous improvements to the annual review process for the Invesco Funds' investment advisory and sub-advisory contracts. The Board took into account evaluations and reports that it received from its committees and sub-committees, as well as the information provided to the Board and its committees and sub-committees throughout the year, in considering whether to approve each Invesco Fund's investment advisory agreement and sub-advisory contracts.

As part of the contract renewal process, the Board reviews and considers information provided in response to requests for information submitted to management by the independent Trustees with assistance from legal counsel to the independent Trustees and the Senior Officer, an officer of the Invesco Funds who reports directly to the independent Trustees. The Board receives comparative investment performance and fee and expense data regarding the Invesco Funds prepared by Broadridge Financial Solutions, Inc. (Broadridge), an independent mutual fund data provider, as well as information on the composition of the peer groups provided by Broadridge and its methodology for determining peer groups. The Board also receives an independent written evaluation from the Senior Officer. The Senior Officer's evaluation is prepared as part of his responsibility to manage the process by which the Invesco Funds' proposed management fees are negotiated during the annual contract renewal

process to ensure they are negotiated in a manner that is at arms' length and reasonable in accordance with certain negotiated regulatory requirements. In addition to meetings with Invesco Advisers and fund counsel throughout the year and as part of meetings convened on May 7, 2024 and June 12, 2024, the independent Trustees also discussed the continuance of the investment advisory agreement and sub-advisory contracts in separate sessions with the Senior Officer and with independent legal counsel. Also, as part of the contract renewal process, the independent Trustees reviewed and considered information provided in response to follow-up requests for information submitted by the independent Trustees to management. The independent Trustees met and discussed those follow-up responses with legal counsel to the independent Trustees and the Senior Officer.

The discussion below is a summary of the Senior Officer's independent written evaluation with respect to the Fund's investment advisory agreement and sub-advisory contracts, as well as a discussion of the material factors and related conclusions that formed the basis for the Board's approval of the Fund's investment advisory agreement and sub-advisory contracts. The Trustees' review and conclusions are based on the comprehensive consideration of all information presented to them during the course of the year and in prior years and are not the result of any single determinative factor. Moreover, one Trustee may have weighed a particular piece of information or factor differently than another Trustee. The information received and considered by the Board was current as of various dates prior to the Board's approval on June 12, 2024.

Factors and Conclusions and Summary of Independent Written Fee Evaluation

A.	Nature, Extent and Quality of Services Provided by Invesco Advisers and the Affiliated Sub-Advisers

The Board reviewed the nature, extent and quality of the advisory services provided to the Fund by Invesco Advisers under the Fund's investment advisory agreement, and the credentials and experience of the officers and employees of Invesco Advisers who provide these services, including the Fund's portfolio manager(s). The Board's review included consideration of Invesco Advisers' investment process and oversight, credit analysis and research capabilities. The Board considered information regarding Invesco Advisers' programs for and resources devoted to risk management, including management of investment, enterprise, operational, liquidity, derivatives, valuation and compliance risks, and technology used to manage such risks. The Board received information regarding Invesco's methodology for compensating its investment professionals and the incentives and accountability it creates, as well as how it impacts Invesco's ability to attract and retain talent. The Board considered the additional services provided to the Fund due to the fact that the Fund is a closed-end fund, including, but not limited to, leverage management and monitoring, evaluating, and, where appropriate, making recommendations with respect to the Fund's trading discount, share repurchase program, and distribution rates, as well as shareholder relations activities. The Board received a description of, and reports related

to, Invesco Advisers' global security program and business continuity plans and of its approach to data privacy and cybersecurity, including related testing. The Board also considered non-advisory services that Invesco Advisers and its affiliates provide to the Invesco Funds, such as various middle office and back office support functions, third party oversight, internal audit, valuation, portfolio trading and legal and compliance. The Board observed that Invesco Advisers' systems preparedness and ongoing investment enabled Invesco Advisers to manage, operate and oversee the Invesco Funds with minimal impact or disruption through challenging environments. The Board reviewed and considered the benefits to shareholders of investing in a Fund that is part of the family of funds under the umbrella of Invesco Ltd., Invesco Advisers' parent company, and noted Invesco Ltd.'s depth and experience in running an investment management business, as well as its commitment of financial and other resources to such business. The Board concluded that the nature, extent and quality of the services provided to the Fund by Invesco Advisers are appropriate and satisfactory.

The Board reviewed the services that may be provided to the Fund by the Affiliated Sub-Advisers under the sub-advisory contracts and the credentials and experience of the officers and employees of the Affiliated Sub-Advisers who provide these services. The Board noted the Affiliated Sub-Advisers' expertise with respect to certain asset classes and that the Affiliated Sub-Advisers have offices and personnel that are located in financial centers around the world. As a result, the Board noted that the Affiliated Sub-Advisers can provide research and investment analysis on the markets and economies of various countries and territories in which the Fund may invest, make recommendations regarding securities and assist with portfolio trading. The Board concluded that the sub-advisory contracts may benefit the Fund and its shareholders by permitting Invesco Advisers to use the resources and talents of the Affiliated Sub-Advisers in managing the Fund. The Board concluded that the nature, extent and quality of the services that may be provided to the Fund by the Affiliated Sub-Advisers are appropriate and satisfactory.

B.	Fund Investment Performance

The Board considered Fund investment performance as a relevant factor in considering whether to approve the investment advisory agreement. The Board did not view Fund investment performance as a relevant factor in considering whether to approve the sub-advisory contracts for the Fund, as no Affiliated Sub-Adviser currently manages assets of the Fund.

The Board compared the Fund's investment performance over multiple time periods ending December 31, 2023 to the performance of funds in the Broadridge performance universe and against the Bloomberg Baa U.S. Corporate Bond Index (Index). The Board noted that the Fund's performance was in the third quintile of its performance universe for the one year period, the fourth quintile for the three year period and the first quintile for the five year period (the first quintile being the best performing funds and the fifth quintile being the worst performing funds). The Board noted that there were only six funds (including the Fund) in the performance universe.


32		Invesco Bond Fund

The Board noted that the Fund's performance was below the performance of the Index for the one and three year periods and reasonably comparable to the performance of the Index for the five year period. The Board recognized that the performance data reflects a snapshot in time as of a particular date and that selecting a different performance period could produce different results. The Board also reviewed more recent Fund performance as well as other performance metrics, which did not change its conclusions. The Board also reviewed supplementally historic premium and discount levels of the Fund as provided to the Board at meetings throughout the year.

C.	Advisory and Sub-Advisory Fees and Fund Expenses

The Board compared the Fund's contractual management fee rate to the contractual management fee rates of funds in the Fund's Broadridge expense group. The Board noted that the contractual management and actual management fee rates for shares of the Fund were reasonably comparable to and below, respectively, the median contractual management and actual management fee rates of funds in its expense group. The Board noted that there were only four funds (including the Fund) in the expense group. The Board noted that the term "contractual management fee" and "actual management fee" for funds in the expense group may include both advisory and certain non-portfolio management administrative services fees, but that Broadridge is not able to provide information on a fund-by-fund basis as to what is included. The Board also reviewed the methodology used by Broadridge in calculating expense group information, which includes using each fund's contractual management fee schedule (including any applicable breakpoints) as reported in the most recent audited annual reports for each fund in the expense group. The Board also considered comparative information regarding the Fund's total expense ratio and its various components.

The Board noted that Invesco Advisers and the Affiliated Sub-Advisers do not manage other similarly managed mutual funds or client accounts.

The Board also considered the services that may be provided by the Affiliated Sub-Advisers pursuant to the sub-advisory contracts, as well as the fees payable by Invesco Advisers to the Affiliated Sub-Advisers pursuant to the sub-advisory contracts.

D. Economies of Scale and Breakpoints

The Board considered the extent to which there may be economies of scale in the provision of advisory services to the Fund and the Invesco Funds, and the extent to which such economies of scale are shared with the Fund and the Invesco Funds. The Board acknowledged the difficulty in calculating and measuring the economies of scale at the individual fund level; noting that only indicative and estimated measures are available at the individual fund level and that such measures are subject to uncertainty. The Board considered that the Fund may benefit from economies of scale through contractual breakpoints in the Fund's advisory fee schedule, which generally operate to reduce the Fund's expense ratio as it grows in size. The Board noted that the Fund also shares in economies of scale through Invesco Advisers' ability to negotiate lower fee arrangements with third party service providers. The Board noted that the Fund may also benefit from economies of scale through initial fee setting, fee waivers and expense reimbursements as well as Invesco Advisers'

investment in its business, including investments in business infrastructure, technology and cybersecurity.

E.	Profitability and Financial Resources

The Board reviewed information from Invesco Advisers concerning the costs of the advisory and other services that Invesco Advisers and its affiliates provide to the Fund and the Invesco Funds and the profitability of Invesco Advisers and its affiliates in providing these services in the aggregate and on an individual fund-by-fund basis. The Board considered the methodology used for calculating profitability and the periodic review and enhancement of such methodology. The Board noted that Invesco Advisers continues to operate at a net profit from services Invesco Advisers and its affiliates provide to the Invesco Funds in the aggregate and to most Invesco Funds individually. The Board considered that profits to Invesco Advisers can vary significantly depending on the particular Invesco Fund, with some Invesco Funds showing indicative losses to Invesco Advisers and others showing indicative profits at healthy levels, and that Invesco Advisers' support for and commitment to an Invesco Fund are not, however, solely dependent on the profits attributed to such Fund. The Board did not deem the level of profits realized by Invesco Advisers and its affiliates from providing such services to be excessive, given the nature, extent and quality of the services provided. The Board noted that Invesco Advisers provided information demonstrating that Invesco Advisers is financially sound and has the resources necessary to perform its obligations under the investment advisory agreement, and provided representations indicating that the Affiliated Sub-Advisers are financially sound and have the resources necessary to perform their obligations under the sub-advisory contracts. The Board noted the cyclical and competitive nature of the global asset management industry.

F.	Collateral Benefits to Invesco Advisers and its Affiliates

The Board considered various other benefits received by Invesco Advisers and its affiliates from the relationship with the Fund. The Board considered the organizational structure employed to provide these services.

The Board considered that the Fund's uninvested cash may be invested in registered money market funds advised by Invesco Advisers. The Board considered information regarding the returns of the affiliated money market funds relative to comparable overnight investments, as well as the fees paid by the affiliated money market funds to Invesco Advisers and its affiliates. In this regard, the Board noted that Invesco Advisers receives advisory fees from these affiliated money market funds attributable to the Fund's investments. The Board also noted that Invesco Advisers has contractually agreed to waive through varying periods an amount equal to 100% of the net advisory fee Invesco Advisers receives from the affiliated money market funds with respect to the Fund's investment in the affiliated money market funds of uninvested cash.


33		Invesco Bond Fund

Proxy Results

A Joint Annual Meeting ("Meeting") of Shareholders of Invesco Bond Fund (the "Fund") was held on August 29, 2024. The Meeting was held for the following purpose:

(1). Election of Trustees by Common Shareholders.

The results of the voting on the above matter were as follows:


		Matter	Votes For		Votes Against/Withheld


(1)		Elizabeth Krentzman		9,565,121.63			194,642.61
	Robert C. Troccoli		9,550,269.96			209,494.28
	Carol Deckbar		9,563,161.63			196,602.61
	Douglas Sharp		9,534,600.96			225,163.28

A Joint Special Meeting ("Meeting") of Shareholders of Invesco Bond Fund (the "Fund") was held on August 29, 2024. The Meeting was held for the following purpose:

(1). To approve amendments to the current fundamental investment restrictions of the Fund as follows:

The results of the voting on the above matters were as follows:


	Matter	Votes For		Votes Against/Withheld		Votes Abstain
(a)	To amend the fundamental investment restriction regarding diversification		5,914,610.48		277,948.10		285,453.65
(b)	To amend the fundamental investment restriction regarding borrowing		5,372,693.48		818,022.10		287,294.65
(c)	To amend the fundamental investment restriction regarding issuing senior securities		5,422,251.44		779,301.15		276,458.65
(d)	To amend the fundamental investment restriction regarding underwriting securities issued by other persons		5,838,061.44		344,845.15		295,104.65
(e)	To amend the fundamental investment restriction regarding lending		5,853,415.44		331,564.15		293,029.65
(f)	To amend the fundamental investment restriction regarding purchasing and selling real estate		5,881,252.48		319,108.10		277,650.65
(g)	To amend the fundamental investment restriction regarding purchasing and selling commodities		5,858,863.48		354,248.10		264,898.65
(h)	To amend the fundamental investment restriction regarding industry concentration		5,882,449.29		335,224.30		260,337.65

(2). To approve the removal of the following current fundamental investment restrictions for the affected Fund as follows:

The results of the voting on the above matters were as follows:


	Matter	Votes For		Votes Against/Withheld		Votes Abstain
(a)	To remove the fundamental investment restriction regarding purchasing on margin		5,105,728.81		1,100,924.10		271,357.32
(b)	To remove the fundamental investment restriction(s) regarding making short sales, writing, purchasing or selling puts or calls or purchasing futures or options		5,103,352.81		1,105,841.10		268,814.32
(c)	To remove the fundamental investment restriction regarding investing for control or management.		5,112,767.81		1,094,356.10		270,886.32
(d)	To remove the fundamental investment restriction regarding investing in management-owned securities		5,102,353.48		1,112,218.10		263,438.65
(e)	To remove the fundamental investment restriction regarding investing in preferred stock		5,193,951.48		1,021,208.10		262,849.65
(f)	To remove the fundamental investment restriction regarding investing in debt securities		5,216,558.48		1,019,057.10		242,394.65
(g)	To remove the fundamental investment restriction regarding joint trading		5,911,986.48		309,768.10		256,254.65


34		Invesco Bond Fund

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Correspondence information

Send general correspondence to Computershare Trust Company, N.A., P.O. Box 43078, Providence, RI 02940-3078

Fund holdings and proxy voting information

The Fund provides a complete list of its portfolio holdings four times each fiscal year, at the end of each fiscal quarter. For the second and fourth quarters, the list appears, respectively, in the Fund's semiannual and annual reports to shareholders. For the first and third quarters, the Fund files the list with the Securities and Exchange Commission (SEC) as an exhibit to its reports on Form N-PORT. The most recent list of portfolio holdings is available at invesco.com/us. Shareholders can also look up the Fund's Form N-PORT filings on the SEC website at sec.gov. The SEC file number for the Fund is shown below.

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities is available without charge, upon request, from our Client Services department at 800 341 2929 or at invesco.com/ corporate/about-us/esg. The information is also available on the SEC website,sec.gov.

Information regarding how the Fund voted proxies related to its portfolio securities during the most recent 12-month period ended June 30 is available at invesco.com/proxysearch. The information is also available on the SEC website, sec.gov.


SEC file number(s): 811-02090			VK-CE-BOND-SAR-1

(b) Not applicable.

Item 2. Code of Ethics

Not applicable for a semi-annual report.

Item 3. Audit Committee Financial Expert

Not applicable.

Item 4. Principal Accountant Fees and Services

Not applicable.

Item 5. Audit Committee of Listed Registrants

Not applicable.

Item 6. Investments

Investments in securities of unaffiliated issuers is filed under Item 1 of this Form.

Item 7. Financial Statements and Financial Highlights for Open-EndManagement Investment Companies

Not applicable.

Item 8. Changes in and Disagreements with Accountants for Open-EndManagement Investment Companies

Not applicable.

Item 9. Proxy Disclosures for Open-EndManagement Investment Companies

Not applicable.

Item 10. Remuneration Paid to Directors, Officers, and Others for Open-EndManagement Investment Companies

Not applicable.

Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract

Not applicable.

Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-EndManagement Investment Companies.

Not applicable.

Item 13. Portfolio Managers of Closed-EndManagement Investment Companies

Not applicable.

Item 14. Purchases of Equity Securities by Closed-EndManagement Investment Company and Affiliated Purchasers

Not applicable.

Item 15. Submission of Matters to a Vote of Security Holders

None.

Item 16. Controls and Procedures

(a)

As of a date within 90 days of the filing date of this report, an evaluation was performed under the supervision and with the participation of the officers of the Registrant, including the Principal Executive Officer ("PEO") and Principal Financial Officer ("PFO"), to assess the effectiveness of the Registrant's disclosure controls and procedures, as that term is defined in Rule 30a-3(c)under the Investment Company Act of 1940 (the "Act"), as amended. Based on that evaluation, the Registrant's officers, including the PEO and PFO, concluded that the Registrant's disclosure controls and procedures were reasonably designed to ensure: (1) that information required to be disclosed by the Registrant on Form N-CSRis recorded, processed, summarized and reported within the time periods specified by the rules and forms of the Securities and Exchange Commission; and (2) that material information relating to the Registrant is made known to the PEO and PFO as appropriate to allow timely decisions regarding required disclosure.

(b)

There have been no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d)under the Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 17. Disclosure of Securities Lending Activity for Closed-EndManagement Investment Companies

Not applicable.

Item 18. Recovery of Erroneously Awarded Compensation

Not applicable.

Item 19. Exhibits


19(a)(1)		Not applicable.

19(a)(2)		Not applicable.

19(a)(3)		Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940 and Section 302 of the Sarbanes-Oxley Act of 2002.

19(b)		Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(b) under the Investment Company Act of 1940 and Section 906 of the Sarbanes-Oxley Act of 2002.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant: Invesco Bond Fund


By:		/s/ Glenn Brightman
	Glenn Brightman
	Principal Executive Officer

Date:		November 1, 2024

Pursuant to the requirements of the Securities and Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.


By:		/s/ Glenn Brightman
	Glenn Brightman
	Principal Executive Officer

Date:		November 1, 2024

By:		/s/ Adrien Deberghes
	Adrien Deberghes
	Principal Financial Officer

Date:		November 1, 2024

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