ThZeal - The Zeal

N-CSRS 1 d349018dncsrs.htm 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 811-02729

Short-Term Investments Trust

(Exact name of registrant as specified in charter)

11 Greenway Plaza, Suite 1000 Houston, Texas 77046

(Address of principal executive offices) (Zip code)

Sheri Morris 11 Greenway Plaza, Suite 1000 Houston, Texas 77046

(Name and address of agent for service)

Registrant’s telephone number, including area code: (713) 626-1919

Date of fiscal year end: 8/31

Date of reporting period: 2/28/22

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:

(b) Not applicable.

LOGO


Semiannual Report to Shareholders		February 28, 2022

Institutional Class

Short-Term Investments Trust (STIT)

Invesco Liquid Assets Portfolio

Invesco STIC Prime Portfolio

Invesco Treasury Portfolio

Invesco Government & Agency Portfolio

Invesco Treasury Obligations Portfolio

Invesco Tax-Free Cash Reserve Portfolio


2		Fund Data
3		Schedules of Investments
28		Financial Statements
34		Financial Highlights
35		Notes to Financial Statements
47		Fund Expenses

Unless otherwise stated, information presented in this report is as of February 28, 2022, and is based on total net assets. Unless otherwise stated, all data provided by Invesco.

NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE

Fund Data


Institutional Class data as of 2/28/22
FUND	WEIGHTED AVERAGE MATURITY		WEIGHTED AVERAGE LIFE	TOTAL NET ASSETS
	Range	At	At
	During	Reporting	Reporting
	Reporting	Period	Period
	Period	End	End
Invesco Liquid Assets¹	23 -52 days	23 days	52 days	$2.2 billion
Invesco STIC Prime¹	3 - 13 days	6 days	7 days	261.3 million
Invesco Treasury²	45 -57 days	51 days	103 days	18.2 billion
Invesco Government & Agency²	32 -53 days	47 days	100 days	54.0 billion
Invesco Treasury Obligations²	31 - 55 days	38 days	83 days	1.1 billion
Invesco Tax-Free Cash Reserve³	9 - 15 days	11 days	11 days	135.7 million

Weighted average maturity (WAM) is an average of the maturities of all securities held in the portfolio, weighted by each security’s percentage of net assets. The days to maturity for WAM is the lower of the stated maturity date or next interest rate reset date. WAM reflects how a portfolio would react to interest rate changes. Weighted average life (WAL) is an average of all the maturities of all securities held in the portfolio, weighted by each security’s percentage of net assets. The days to maturity for WAL is the lower of the stated maturity date or next demand feature date. WAL reflects how a portfolio would react to deteriorating credit (widening spreads) or tightening liquidity conditions.

You could lose money by investing in the Fund. Because the share price of the Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. The Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below the required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

You could lose money by investing in the Fund. Although the Fund seeks to preserve your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

You could lose money by investing in the Fund. Although the Fund seeks to preserve your investment at $1.00 per share, it cannot guarantee it will do so. The Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below the required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

2 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
Commercial Paper-36.48%^(a)
Asset-Backed Securities - Fully Supported-2.71%
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.17%		04/13/2022	$	10,000	$	9,996,724
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.25%		05/06/2022		50,000		49,960,732
								59,957,456

Asset-Backed Securities - Fully Supported Bank-5.88%
Anglesea Funding LLC (Multi - CEP’s)^(b)(c)		0.13%		03/03/2022		10,000		9,999,921
Anglesea Funding PLC (Multi - CEP’s) (OBFR + 0.10%)^(b)(c)(d)		0.17%		05/20/2022		25,000		25,003,750
Bedford Row Funding Corp. (CEP - Royal Bank of Canada) (1 mo. FEDL + 0.12%)^(b)(c)(d)		0.20%		09/01/2022		20,000		19,998,483
Ebury Finance LLC (Multi - CEP’s), (SOFR + 0.15%)^(b)(c)(d)		0.20%		05/23/2022		50,000		50,000,583
Versailles Commercial Paper LLC (CEP - Natixis S.A.) (SOFR + 0.16%)^(b)(c)(d)		0.21%		08/02/2022		25,000		25,000,098
								130,002,835

Diversified Banks-21.08%
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(b)(c)(d)		0.25%		05/16/2022		30,000		30,000,937
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(b)(c)(d)		0.25%		05/20/2022		25,000		25,000,822
ANZ New Zealand (Int’l) Ltd.^(b)(c)		0.17%		04/04/2022		23,700		23,695,783
ANZ New Zealand (Int’l) Ltd.^(b)(c)		0.34%		10/03/2022		30,000		29,831,463
Barclays Bank PLC (SOFR + 0.16%)^(b)(c)(d)		0.21%		07/01/2022		60,000		60,003,023
Industrial & Commercial Bank of China Ltd.^(b)(c)		0.15%		03/15/2022		50,000		49,997,437
Kookmin Bank^(b)(c)		0.20%		03/17/2022		20,000		19,999,226
Mitsubishi UFJ Trust & Banking Corp.^(b)(c)		0.26%		04/13/2022		15,000		14,995,637
National Australia Bank Ltd. (SOFR + 0.17%)^(b)(c)(d)		0.22%		07/25/2022		50,000		50,003,019
NRW Bank^(b)(c)		0.00%		04/01/2022		30,000		29,986,667
Royal Bank of Canada^(b)(c)		0.20%		06/16/2022		15,000		14,974,125
Svenska Handelsbanken AB^(b)(c)		0.34%		11/03/2022		22,850		22,690,700
Toronto-Dominion Bank (The)^(b)(c)		0.21%		06/22/2022		25,000		24,952,262
Toronto-Dominion Bank (The) (1 mo. FEDL + 0.10%)^(b)(c)(d)		0.18%		07/08/2022		10,000		9,999,109
Toronto-Dominion Bank (The) (1 mo. FEDL + 0.10%)^(b)(c)(d)		0.18%		09/06/2022		10,000		9,997,669
United Overseas Bank Ltd.^(b)(c)		0.25%		06/09/2022		50,000		49,922,146
								466,050,025

Diversified Capital Markets-2.71%
UBS AG^(b)(c)		0.25%		08/18/2022		30,000		29,895,263
UBS AG (SOFR + 0.17%)^(b)(c)(d)		0.22%		09/21/2022		30,000		29,987,712
								59,882,975

Investment Banking & Brokerage-1.35%
Goldman Sachs International^(b)		0.45%		11/15/2022		30,000		29,768,383

Regional Banks-2.30%
ASB Finance Ltd.^(b)(c)		0.25%		03/18/2022		20,920		20,919,216
ASB Finance Ltd.^(b)(c)		0.21%		07/08/2022		30,000		29,931,208
								50,850,424

Specialized Finance-0.45%
Great Bear Funding LLC (OBFR + 0.15%)^(c)(d)		0.22%		07/01/2022		10,000		10,001,500
Total Commercial Paper (Cost $807,086,551)								806,513,598

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

3 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value

Certificates of Deposit-34.73%
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(c)(d)		0.25%		05/11/2022	$	10,000	$	10,001,239
ANZ New Zealand (Int’l) Ltd.^(c)		0.07%		03/01/2022		55,000		55,000,000
Bank of Montreal^(c)		0.21%		06/24/2022		10,000		9,987,430
Bank of Nova Scotia (The) (SOFR + 0.11%)^(c)(d)		0.16%		04/20/2022		50,000		50,004,956
Canadian Imperial Bank of Commerce^(c)		0.07%		03/01/2022		38,000		38,000,000
Canadian Imperial Bank of Commerce (1 mo. FEDL + 0.10%)^(c)(d)		0.18%		06/08/2022		50,000		49,997,973
Cooperatieve Rabobank U.A.^(c)		0.07%		03/01/2022		105,000		105,000,000
DZ Bank AG Deutsche Zentral-Genossenschaftsbank^(c)		0.06%		03/01/2022		95,000		95,000,000
Goldman Sachs Bank USA (SOFR + 0.21%)^(d)		0.26%		09/16/2022		30,000		29,999,999
Nordea Bank Abp^(c)		0.06%		03/01/2022		95,000		95,000,000
Skandinaviska Enskilda Banken AB^(c)		0.06%		03/01/2022		95,000		95,000,000
Svenska Handelsbanken AB^(c)		0.06%		03/01/2022		75,000		75,000,000
Westpac Banking Corp. (SOFR + 0.13%)^(c)(d)		0.18%		07/15/2022		55,000		54,994,856
Westpac Banking Corp.^(c)		0.44%		11/23/2022		5,000		4,976,872
Total Certificates of Deposit (Cost $767,998,956)								767,963,325

Variable Rate Demand Notes-5.24%^(e)
Credit Enhanced-5.24%
Capital Area Housing Finance Corp. (Cypress Creek at River Apartments); Series 2006, VRD MFH RB (LOC - Citibank N.A.)^(f)(g)		0.23%		10/01/2039		2,400		2,400,000
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(g)		0.19%		06/01/2037		3,055		3,055,000
Jets Stadium Development LLC; Series 2014 A-4B, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)^(b)(c)(g)		0.26%		04/01/2047		9,200		9,199,999
Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank N.A.)^(g)		0.22%		05/01/2037		2,500		2,500,000
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(g)		0.19%		11/15/2046		11,180		11,180,000
Sarasota (County of), FL Public Hospital District (Sarasota Memorial Hospital); Series 2008 B, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(g)		0.20%		07/01/2037		5,420		5,420,000
University of Texas System Board of Regents; Subseries 2016 G-2, VRD RB		0.16%		08/01/2045		82,040		82,040,000
Total Variable Rate Demand Notes (Cost $115,794,999)								115,794,999
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-76.45% (Cost $1,690,880,506)								1,690,271,922

					Repurchase Amount
Repurchase Agreements-24.92%^(h)

BMO Capital Markets Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $100,003,111 (collateralized by U.S government sponsored agency obligations, domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $103,576,455; 0.00% - 8.88%; 04/25/2022 - 06/20/2071)^(c)(i)		0.16%		03/01/2022		27,000,840		27,000,000
BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $150,004,958 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $157,182,535; 0.00% - 8.20%; 02/13/2023 - 12/16/2062)^(c)(i)		0.17%		03/02/2022		15,000,496		15,000,000

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

4 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


	Interest Rate		Maturity Date		Repurchase Amount		Value
BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $25,001,069 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $26,546,588; 0.00% - 10.00%; 12/07/2021 - 12/20/2065)^(c)(i)		0.22%		03/02/2022	$	10,000,428	$	10,000,000
Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic and foreign non-agency asset-backed securities and domestic non-agency mortgage-backed securities valued at $203,598,357; 1.17% - 7.06%; 10/25/2026 - 02/15/2039)^(j)		0.56%		03/01/2022		8,003,451		8,000,000
Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic non-agency asset-backed securities, domestic corporate obligations and domestic non-agency mortgage-backed securities valued at $55,045,612; 1.87% - 7.38%; 03/25/2026 - 06/01/2044)^(j)		0.55%		03/01/2022		35,014,963		35,000,000
Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic non-agency mortgage-backed securities valued at $55,143,137; 1.94% - 5.80%; 01/25/2030 - 12/15/2038)^(j)		0.54%		03/01/2022		10,004,197		10,000,000
Credit Agricole Corporate & Investment Bank, joint term agreement dated 02/22/2022, aggregate maturing value of $240,006,067 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations, domestic non-agency mortgage-backed securities and U.S. Treasury obligations valued at $246,893,829; 0.00% - 7.75%; 04/07/2022 - 05/01/2079)^(c)(i)		0.13%		03/01/2022		20,000,506		20,000,000
Credit Suisse Securities (USA) LLC, joint term agreement dated 02/23/2022, aggregate maturing value of $90,003,500 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities and domestic and foreign corporate obligations valued at $98,998,378; 0.00% - 15.98%; 04/22/2022 - 09/27/2060)^(c)(i)		0.20%		03/02/2022		25,000,972		25,000,000
Credit Suisse Securities (USA) LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $10,000,095 (collateralized by domestic non-agency mortgage-backed securities valued at $10,500,001; 1.38% - 4.74%; 12/15/2046 - 01/20/2051)^(c)(k)		0.34%		03/01/2022		2,000,019		2,000,000
J.P. Morgan Securities LLC, joint open agreement dated 04/28/2020 (collateralized by domestic and corporate obligations valued at $109,999,955; 0.00% - 10.88%; 04/30/2022 - 11/03/2037)^(j)		0.37%		03/01/2022		65,018,706		65,000,000
J.P. Morgan Securities LLC, joint open agreement dated 09/18/2020 (collateralized by domestic and foreign equity securities valued at $15,753,313; 0.00% - 8.50%; 10/31/2026 - 01/31/2028)^(j)		0.27%		03/01/2022		7,001,470		7,000,000
J.P. Morgan Securities LLC, open agreement dated 11/01/2021 (collateralized by a domestic agency mortgage-backed security and domestic non-agency mortgage-backed securities valued at $15,750,000; 0.22% - 3.36%; 06/15/2031 - 04/27/2065)^(j)		0.43%		03/01/2022		15,005,004		15,000,000
Mitsubishi UFJ Trust & Banking Corp., joint open agreement dated 02/23/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations, domestic and foreign commercial paper and a U.S. Treasury obligation valued at $51,697,846; 0.00% - 8.50%; 03/01/2022 - 01/15/2082)^(c)(j)		0.20%		03/01/2022		25,003,889		25,000,000
Mizuho Securities (USA) LLC, joint open agreement dated 12/30/2021 (collateralized by domestic and foreign equity securities valued at $52,500,215; 0.00%)^(c)(j)		0.22%		03/01/2022		28,000,171		28,000,000
RBC Capital Markets LLC, joint term agreement dated 02/23/2022, aggregate maturing value of $155,005,726 (collateralized by domestic and foreign corporate obligations valued at $170,310,340; 0.00% - 13.00%; 03/15/2022 - 05/15/2097)^(c)(i)		0.19%		03/02/2022		20,000,739		20,000,000
Societe Generale, joint open agreement dated 08/06/2019 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and domestic non-agency mortgage-backed securities valued at $78,729,067; 0.34% - 13.00%; 03/15/2022 - 12/15/2072)^(c)(j)		0.25%		03/01/2022		25,000,174		25,000,000
Societe Generale, joint open agreement dated 08/20/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations and a domestic non-agency mortgage-backed security valued at $91,931,202; 0.98% - 10.13%; 01/05/2023 - 03/11/2061)^(c)(j)		0.18%		03/01/2022		65,000,325		65,000,000

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

5 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


	Interest Rate		Maturity Date		Repurchase Amount		Value

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)		0.06%		03/01/2022	$	148,899,229	$	148,898,981

Total Repurchase Agreements (Cost $550,898,981)								550,898,981

TOTAL INVESTMENTS IN SECURITIES^(l)(m)-101.37% (Cost $2,241,779,487)								2,241,170,903

OTHER ASSETS LESS LIABILITIES-(1.37)%								(30,328,382	)

NET ASSETS-100.00%							$	2,210,842,521


Investment Abbreviations:
CEP		-Credit Enhancement Provider
FEDL		-Federal Funds Effective Rate
LOC		-Letter of Credit
MFH		-Multi-Family Housing
OBFR		-Overnight Bank Funding Rate
RB		-Revenue Bonds
Ref.		-Refunding
SOFR		-Secured Overnight Financing Rate
VRD		-Variable Rate Demand

Notes to Schedule of Investments:

^(a)	Securities may be traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.

^(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 February 28, 2022 was $805,712,097, which represented 36.44% of the Fund’s Net Assets.

^(c)

The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: Canada: 15.6%; France: 11.1%; Australia: 9.9%; Sweden: 8.7%; Denmark: 5.7%; China: 5.2%; other countries less than 5% each: 24.6%.

^(d)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(e)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(f)	Security subject to the alternative minimum tax.

^(g)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(h)	Principal amount equals value at period end. See Note 1I.

⁽ⁱ⁾	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(j)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(k)	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(l)	Also represents cost for federal income tax purposes.

^(m)	Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer’s obligations but may be called upon to satisfy the issuer’s obligations. No concentration of any single entity was greater than 5% each.

Portfolio Composition by Maturity*

In days, as of 02/28/2022



1-7	51.3	%
8-30	4.1
31-60	10.4
61-90	5.2
91-180	20.9
181+	8.1

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

6 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco STIC Prime Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
Commercial Paper-31.79%^(a)
Asset-Backed Securities - Fully Supported-4.95%
Ionic Capital II Trust (CEP - Citibank N.A.)		0.16%		03/04/2022	$	8,000	$	7,999,916
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.29%		04/05/2022		5,000		4,998,955
								12,998,871

Asset-Backed Securities - Fully Supported Bank-13.50%
Concord Minutemen Capital Co. LLC^(b)(c)		0.18%		03/17/2022		5,000		4,999,745
Institutional Secured Funding LLC (Multi - CEP’s)^(b)(c)		0.18%		03/04/2022		7,000		6,999,872
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)^(b)(c)		0.17%		03/16/2022		7,430		7,429,515
Nieuw Amsterdam Receivables Corp. (CEP - Cooperatieve Rabobank U.A.)^(b)(c)		0.17%		03/17/2022		8,000		7,999,490
Sheffield Receivables Co. LLC (CEP - Barclays Bank PLC)^(b)(c)		0.15%		03/11/2022		8,000		7,999,755
								35,428,377

Diversified Banks-13.34%
Agricultural Bank of China Ltd.^(b)(c)		0.18%		03/07/2022		8,000		7,999,759
BNG Bank N.V.^(b)(c)		0.10%		03/01/2022		5,000		4,999,991
Nederlandse Waterschapsbank N.V.^(b)(c)		0.51%		03/31/2022		7,000		6,999,036
NRW Bank^(b)(c)		0.51%		04/01/2022		7,000		6,996,889
Sumitomo Mitsui Trust Bank Ltd.^(b)(c)		0.17%		03/16/2022		8,000		7,999,573
								34,995,248
Total Commercial Paper (Cost $83,419,659)								83,422,496

Certificates of Deposit-25.92%
ANZ New Zealand (Int’l) Ltd.^(c)		0.07%		03/01/2022		12,000		12,000,000
Canadian Imperial Bank of Commerce^(c)		0.07%		03/01/2022		12,000		12,000,000
Cooperatieve Rabobank U.A.^(c)		0.07%		03/01/2022		4,000		4,000,000
DZ Bank AG Deutsche Zentral-Genossenschaftsbank^(c)		0.06%		03/01/2022		10,000		10,000,000
Nordea Bank Abp^(c)		0.06%		03/01/2022		10,000		10,000,000
Skandinaviska Enskilda Banken AB^(c)		0.06%		03/01/2022		10,000		10,000,000
Svenska Handelsbanken AB^(c)		0.06%		03/01/2022		10,000		10,000,000
Total Certificates of Deposit (Cost $68,000,000)								68,000,000

Variable Rate Demand Notes-15.46%^(d)
Credit Enhanced-15.46%
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(e)		0.19%		06/01/2037		5,610		5,610,000
Illinois (State of) Housing Development Authority (Danbury Court Apartments-Phase II); Series 2004 B, VRD MFH RB (LOC - FHLB of Indianapolis)^(e)(f)		0.28%		12/01/2039		730		730,000
Jets Stadium Development LLC; Series 2007 A-4, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)^(b)(e)		0.26%		04/01/2047		7,800		7,800,000
Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank N.A.)^(e)		0.22%		05/01/2037		3,050		3,050,000
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(e)		0.19%		11/15/2046		3,000		3,000,000
Mobile Downtown Redevelopment Authority (The) (Austal USA LLC); Series 2011 B, Ref. VRD RB^(b)		0.22%		05/01/2041		6,000		6,000,000
Ohio (State of) Housing Finance Agency (Wingate at Belle Meadows); Series 2004, VRD RB^(f)		0.15%		10/01/2036		8,205		8,205,000
Portland (Port of), OR (Portland International Airport); Subseries 2008 18-A, Ref. VRD RB (LOC - Industrial & Commercial Bank of China Ltd.)^(c)(e)(f)		0.27%		07/01/2026		570		570,000
Southeast Texas Housing Finance Corp. (Mansions at Moses Lake Apartments); Series 2008, VRD RB (CEP - FHLMC)^(f)		0.26%		06/01/2041		890		890,000

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

7 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco STIC Prime Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value

Credit Enhanced-(continued)
Ziegler Realty LLC; Series 2007, VRD Notes (LOC - Wells Fargo Bank N.A.)^(b)(e)		0.18%		01/01/2033	$	4,700	$	4,700,000

Total Variable Rate Demand Notes (Cost $40,555,000)								40,555,000

TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-73.17% (Cost $191,974,659)								191,977,496


					Repurchase Amount
Repurchase Agreements-32.14%^(g)

BMO Capital Markets Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $100,003,111 (collateralized by U.S government sponsored agency obligations, domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $103,576,455; 0.00% - 8.88%; 04/25/2022 - 06/20/2071)^(c)(h)		0.16%		03/01/2022		3,000,093		3,000,000

BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $150,004,958 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $157,182,535; 0.00% - 8.20%; 02/13/2023 - 12/16/2062)^(c)(h)		0.17%		03/02/2022		3,000,099		3,000,000

BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $25,001,069 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $26,546,588; 0.00% - 10.00%; 12/07/2021 - 12/20/2065)^(c)(h)		0.22%		03/02/2022		3,000,128		3,000,000

BofA Securities, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $745,001,035 (collateralized by domestic agency mortgage-backed securities valued at $759,900,001; 0.46% - 7.50%; 09/25/2022 - 01/01/2052)		0.05%		03/01/2022		12,000,017		12,000,000

Citigroup Global Markets, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $400,000,556 (collateralized by U.S. Treasury obligations valued at $408,000,001; 0.00% - 0.13%; 01/15/2023 - 02/15/2051)		0.05%		03/01/2022		12,000,017		12,000,000

Credit Suisse Securities (USA) LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $10,000,095 (collateralized by domestic non-agency mortgage-backed securities valued at $10,500,001; 1.38% - 4.74%; 12/15/2046 - 01/20/2051)^(c)(i)		0.34%		03/01/2022		8,000,076		8,000,000

J.P. Morgan Securities LLC, joint open agreement dated 09/18/2020 (collateralized by domestic and foreign equity securities valued at $15,753,313; 0.00% - 8.50%; 10/31/2026 - 01/31/2028)^(j)		0.27%		03/01/2022		8,001,680		8,000,000

Mitsubishi UFJ Trust & Banking Corp., joint open agreement dated 02/23/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations, domestic and foreign commercial paper and a U.S. Treasury obligation valued at $51,697,846; 0.00% - 8.50%; 03/01/2022 - 01/15/2082)^(c)(j)		0.20%		03/01/2022		7,001,089		7,000,000

Mizuho Securities (USA) LLC, joint open agreement dated 12/30/2021 (collateralized by domestic and foreign equity securities valued at $52,500,215; 0.00%)^(c)(j)		0.22%		03/01/2022		7,000,043		7,000,000

Societe Generale, joint open agreement dated 08/06/2019 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and domestic non-agency mortgage-backed securities valued at $78,729,067; 0.34% - 13.00%; 03/15/2022 - 12/15/2072)^(c)(j)		0.25%		03/01/2022		5,000,035		5,000,000

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)		0.06%		03/01/2022		16,326,257		16,326,230

Total Repurchase Agreements (Cost $84,326,230)								84,326,230

TOTAL INVESTMENTS IN SECURITIES^(k)(l)-105.31% (Cost $276,300,889)								276,303,726

OTHER ASSETS LESS LIABILITIES-(5.31)%								(13,931,465	)

NET ASSETS-100.00%							$	262,372,261

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

8 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco STIC Prime Portfolio–(continued)


Investment Abbreviations:
CEP		-Credit Enhancement Provider
FHLB		-Federal Home Loan Bank
FHLMC		-Federal Home Loan Mortgage Corp.
LOC		-Letter of Credit
MFH		-Multi-Family Housing
RB		-Revenue Bonds
Ref.		-Refunding
VRD		-Variable Rate Demand

Notes to Schedule of Investments:

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

^(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 February 28, 2022 was $93,922,580, which represented 35.80% of the Fund’s Net Assets.

^(c)

The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: Netherlands: 11.8; Japan: 8.4%; Canada: 8.0%; Sweden: 7.6%; France: 6.6%; Germany: 6.5%; Switzerland: 5.0%; other countries less than 5% each: 14.7%.

^(d)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(e)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(f)	Security subject to the alternative minimum tax.

^(g)	Principal amount equals value at period end. See Note 1I.

^(h)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

⁽ⁱ⁾	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(j)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(k)	Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer’s obligation but may be called upon to satisfy issuer’s obligations. No concentration of any single entity was greater than 5% each.

^(l)	Also represents cost for federal income tax purposes.

Portfolio Composition by Maturity*

In days, as of 02/28/2022



1-7	75.8	%
8-30	13.9
31-60	10.3
61-90	0.0
91-180	0.0
181+	0.0

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

9 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. Treasury Securities-60.06%
U.S. Treasury Bills-31.54%^(a)
U.S. Treasury Bills		0.11%		04/26/2022	$	721,000	$	720,876,629
U.S. Treasury Bills		0.29%-0.31%		05/12/2022		650,000		649,612,998
U.S. Treasury Bills		0.28%		05/24/2022		225,000		224,855,625
U.S. Treasury Bills		0.38%		05/26/2022		450,000		449,591,499
U.S. Treasury Bills		0.28%-0.29%		05/31/2022		1,200,000		1,199,141,564
U.S. Treasury Bills		0.09%-0.36%		06/02/2022		600,000		599,589,500
U.S. Treasury Bills		0.34%		06/07/2022		527,000		526,512,232
U.S. Treasury Bills		0.07%-0.26%		06/16/2022		535,000		534,676,771
U.S. Treasury Bills		0.55%		06/21/2022		460,000		459,212,889
U.S. Treasury Bills		0.57%		06/28/2022		500,000		499,057,915
U.S. Treasury Bills		0.08%		07/14/2022		150,000		149,957,812
U.S. Treasury Bills		0.11%		08/11/2022		200,000		199,900,842
U.S. Treasury Bills		0.08%-0.12%		09/08/2022		500,000		499,727,295
U.S. Treasury Bills		0.09%		10/06/2022		200,000		199,890,500
								6,912,604,071

U.S. Treasury Floating Rate Notes-15.08%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)		0.47%		04/30/2022		744,000		744,073,587
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		07/31/2022		350,000		350,001,528
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		10/31/2022		355,000		354,993,431
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)		0.41%		01/31/2023		100,000		100,000,000
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		04/30/2023		250,500		250,509,461
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		07/31/2023		627,000		627,019,367
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)		0.40%		10/31/2023		880,000		879,991,372
								3,306,588,746

U.S. Treasury Notes-13.44%
U.S. Treasury Notes		1.75%		03/31/2022		300,000		300,412,035
U.S. Treasury Notes		1.88%		03/31/2022		100,000		100,145,660
U.S. Treasury Notes		1.75%		04/30/2022		200,000		200,549,446
U.S. Treasury Notes		1.75%		06/15/2022		200,000		200,963,044
U.S. Treasury Notes		0.13%		06/30/2022		200,000		200,023,309
U.S. Treasury Notes		1.75%		06/30/2022		100,000		100,547,880
U.S. Treasury Notes		2.13%		06/30/2022		200,000		201,349,336
U.S. Treasury Notes		1.75%		07/15/2022		200,000		201,230,784
U.S. Treasury Notes		0.13%		07/31/2022		200,000		200,033,666
U.S. Treasury Notes		1.88%		07/31/2022		250,000		251,856,731
U.S. Treasury Notes		1.63%		08/15/2022		200,000		201,417,294
U.S. Treasury Notes		1.63%		08/31/2022		150,000		151,137,915
U.S. Treasury Notes		1.50%		09/15/2022		150,000		151,151,255

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

10 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. Treasury Notes-(continued)
U.S. Treasury Notes		1.38%		10/15/2022	$	200,000	$	201,613,975
U.S. Treasury Notes		1.88%		10/31/2022		180,000		182,134,400
U.S. Treasury Notes		2.00%		10/31/2022		100,000		101,267,558
								2,945,834,288
Total U.S. Treasury Securities (Cost $13,165,027,105)								13,165,027,105
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-60.06% (Cost $13,165,027,105)								13,165,027,105

					Repurchase Amount
Repurchase Agreements-44.00%^(c)

Bank of Nova Scotia, agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by U.S. Treasury obligations valued at $510,000,014; 0.13% - 2.75%; 09/30/2022 - 08/15/2029)		0.05%		03/01/2022		500,000,694		500,000,000
BofA Securities, Inc., agreement dated 02/28/2022, maturing value of $600,000,833 (collateralized by U.S. Treasury obligations valued at $612,000,010; 1.13% - 7.63%; 11/15/2024 - 05/15/2051)		0.05%		03/01/2022		600,000,833		600,000,000
CIBC World Markets Corp., joint term agreement dated 02/07/2022, aggregate maturing value of $350,020,319 (collateralized by U.S. Treasury obligations valued at $357,000,019; 0.00% - 4.50%; 07/14/2022 - 02/15/2051)^(d)		0.06%		03/17/2022		150,008,708		150,000,000
Citigroup Global Markets, Inc., joint term agreement dated 02/22/2022, aggregate maturing value of $300,003,208 (collateralized by U.S. Treasury obligations valued at $306,000,095; 1.25% - 2.25%; 11/15/2022 - 04/30/2028)^(d)		0.06%		03/01/2022		110,001,176		110,000,000
Credit Agricole Corporate & Investment Bank, joint agreement dated 02/28/2022, aggregate maturing value of $1,250,001,736 (collateralized by U.S. Treasury obligations valued at $1,275,000,039; 0.75% - 2.75%; 05/31/2023 - 09/30/2028)		0.05%		03/01/2022		950,001,319		950,000,000
Credit Agricole Corporate & Investment Bank, joint open agreement dated 12/01/2021 (collateralized by U.S. Treasury obligations valued at $2,032,860,462; 0.13% - 3.13%; 04/15/2024 - 11/15/2050)^(e)		0.05%		03/01/2022		450,017,375		450,000,000
DNB Bank ASA, agreement dated 02/28/2022, maturing value of $350,000,486 (collateralized by U.S. Treasury obligations valued at $361,046,466; 0.13% - 1.63%; 07/15/2027 - 07/15/2031)		0.05%		03/01/2022		350,000,486		350,000,000
Federal Reserve Bank of New York, joint agreement dated 02/28/2022, aggregate maturing value of $800,001,111 (collateralized by U.S. Treasury obligations valued at $800,001,169; 0.13%; 11/30/2022)		0.05%		03/01/2022		200,000,278		200,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), agreement dated 02/28/2022, maturing value of $1,500,002,083 (collateralized by U.S. Treasury obligations valued at $1,530,000,063; 0.13% - 2.88%; 05/15/2022 - 11/15/2046)		0.05%		03/01/2022		1,500,002,083		1,500,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), joint agreement dated 02/28/2022, aggregate maturing value of $612,000,085 (collateralized by U.S. Treasury obligations valued at $624,240,130; 0.00%; 08/11/2022)		0.01%		03/01/2022		200,000,028		200,000,000
Goldman Sachs & Co., agreement dated 02/28/2022, maturing value of $250,000,347 (collateralized by a U.S. Treasury obligation valued at $255,000,014; 1.75%; 11/15/2029)		0.05%		03/01/2022		250,000,347		250,000,000
ING Financial Markets, LLC, agreement dated 02/28/2022, maturing value of $100,000,139 (collateralized by U.S. Treasury obligations valued at $102,000,056; 0.00% - 1.75%; 05/19/2022 - 02/15/2045)		0.05%		03/01/2022		100,000,139		100,000,000
J.P. Morgan Securities LLC, joint open agreement dated 03/27/2020 (collateralized by U.S. Treasury obligations valued at $867,001,467; 0.00% -2.38%; 03/03/2022 - 05/15/2050)^(e)		0.05%		03/01/2022		630,024,325		630,000,000

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

11 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)


	Interest Rate		Maturity Date		Repurchase Amount		Value

Metropolitan Life Insurance Co., joint term agreement dated 02/23/2022, aggregate maturing value of $350,014,295 (collateralized by U.S. Treasury obligations valued at $358,935,903; 0.00%; 08/15/2027 - 11/15/2045)^(d)		0.07%		03/02/2022	$	100,004,324	$	100,002,963

Mitsubishi UFJ Trust & Banking Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $768,135,455 (collateralized by U.S. Treasury obligations valued at $788,525,747; 1.13%; 02/28/2025 - 02/28/2027)^(d)		0.07%		03/02/2022		266,003,621		266,000,000

Mitsubishi UFJ Trust & Banking Corp., term agreement dated 02/23/2022, maturing value of $100,001,167 (collateralized by U.S. Treasury obligations valued at $102,001,081; 0.63% - 1.25%; 08/15/2030 - 08/15/2031)^(d)		0.06%		03/02/2022		100,001,167		100,000,000

Prudential Insurance Co. of America, agreement dated 02/28/2022, maturing value of $256,312,927 (collateralized by U.S. Treasury obligations valued at $264,258,250; 0.00%; 08/15/2027 - 08/15/2037)		0.06%		03/01/2022		256,312,927		256,312,500

Prudential Legacy Insurance Company of New Jersey, agreement dated 02/28/2022, maturing value of $348,750,581 (collateralized by U.S. Treasury obligations valued at $361,788,000; 0.00%; 08/15/2033 - 02/15/2045)		0.06%		03/01/2022		348,750,581		348,750,000

RBC Dominion Securities Inc., joint term agreement dated 02/08/2022, aggregate maturing value of $500,016,667 (collateralized by U.S. Treasury obligations valued at $510,000,124; 0.13% - 6.00%; 07/15/2024 - 02/15/2050)^(d)		0.05%		03/04/2022		100,003,333		100,000,000

RBC Dominion Securities Inc., joint term agreement dated 02/24/2022, aggregate maturing value of $500,004,861 (collateralized by U.S. Treasury obligations valued at $510,000,087; 0.13% - 5.25%; 04/30/2022 - 02/15/2052)^(d)		0.05%		03/03/2022		250,002,431		250,000,000

Royal Bank of Canada, joint term agreement dated 02/11/2022, aggregate maturing value of $100,004,583 (collateralized by U.S. Treasury obligations valued at $102,000,076; 0.13% - 2.75%; 05/15/2022 - 11/15/2041)^(d)		0.05%		03/16/2022		50,002,292		50,000,000

Royal Bank of Canada, term agreement dated 02/23/2022, maturing value of $250,002,431 (collateralized by U.S. Treasury obligations valued at $255,000,061; 0.13% - 2.88%; 05/15/2022 - 11/15/2041)^(d)		0.05%		03/02/2022		250,002,431		250,000,000

Societe Generale, joint open agreement dated 01/05/2022 (collateralized by U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 7.63%; 03/01/2022 - 02/15/2052)^(e)		0.05%		03/01/2022		275,000,382		275,000,000

Societe Generale, joint open agreement dated 01/12/2022 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,530,000,206; 0.00% -7.63%; 03/01/2022 - 10/01/2051)^(e)		0.05%		03/01/2022		380,000,528		380,000,000

Standard Chartered Bank, agreement dated 02/28/2022, maturing value of $250,000,347 (collateralized by U.S. Treasury obligations valued at $255,000,373; 0.13% - 4.38%; 07/15/2023 - 05/15/2051)		0.05%		03/01/2022		250,000,347		250,000,000

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,700,003,750 (collateralized by U.S. Treasury obligations valued at $2,754,000,090; 0.38% - 2.88%; 07/31/2022 - 02/15/2051)		0.05%		03/01/2022		1,027,847,515		1,027,846,087

Total Repurchase Agreements (Cost $9,643,911,550)								9,643,911,550

TOTAL INVESTMENTS IN SECURITIES-104.06% (Cost $22,808,938,655)								22,808,938,655

OTHER ASSETS LESS LIABILITIES-(4.06)%								(889,390,382	)

NET ASSETS-100.00%							$	21,919,548,273

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(c)	Principal amount equals value at period end. See Note 1I.

^(d)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(e)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

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

12 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)

Portfolio Composition by Maturity*

In days, as of 02/28/2022



1-7	39.9	%
8-30	0.0
31-60	5.1
61-90	10.4
91-180	27.7
181+	16.9

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

13 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. Treasury Securities-61.01%
U.S. Treasury Bills-43.56%^(a)
U.S. Treasury Bills		0.06%		03/01/2022	$	475,000	$	475,000,000
U.S. Treasury Bills		0.07%		03/10/2022		750,000		749,986,875
U.S. Treasury Bills		0.08%		03/24/2022		715,000		714,965,740
U.S. Treasury Bills		0.07%		03/29/2022		705,000		704,961,471
U.S. Treasury Bills		0.09%		03/31/2022		815,000		814,942,271
U.S. Treasury Bills		0.25%		04/12/2022		2,011,000		2,010,413,458
U.S. Treasury Bills		0.25%		04/19/2022		3,000,000		2,998,979,164
U.S. Treasury Bills		0.07%		04/21/2022		250,000		249,976,979
U.S. Treasury Bills		0.11%		04/26/2022		1,690,000		1,689,603,342
U.S. Treasury Bills		0.24%		05/05/2022		750,000		749,675,000
U.S. Treasury Bills		0.29%		05/12/2022		1,200,000		1,199,303,997
U.S. Treasury Bills		0.23%		05/17/2022		545,000		544,729,618
U.S. Treasury Bills		0.44%		05/19/2022		500,000		499,517,223
U.S. Treasury Bills		0.25%		05/24/2022		800,000		799,512,917
U.S. Treasury Bills		0.29%		05/31/2022		2,000,000		1,998,572,943
U.S. Treasury Bills		0.09%		06/02/2022		850,000		849,463,625
U.S. Treasury Bills		0.34%		06/07/2022		1,550,000		1,548,572,738
U.S. Treasury Bills		0.11%		06/09/2022		250,000		249,927,083
U.S. Treasury Bills		0.50%		06/14/2022		905,000		903,692,954
U.S. Treasury Bills		0.07%		06/16/2022		400,000		399,917,521
U.S. Treasury Bills		0.55%		06/21/2022		1,565,000		1,562,322,111
U.S. Treasury Bills		0.57%		06/28/2022		1,600,000		1,597,117,141
U.S. Treasury Bills		0.08%		08/11/2022		300,000		299,891,333
U.S. Treasury Bills		0.61%-0.72%		08/25/2022		2,075,000		2,068,206,952
U.S. Treasury Bills		0.08%		09/08/2022		75,000		74,970,156
U.S. Treasury Bills		0.10%		10/06/2022		860,000		859,518,656
								26,613,741,268

U.S. Treasury Floating Rate Notes-8.87%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)		0.47%		04/30/2022		107,000		107,014,699
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		07/31/2022		287,000		287,008,217
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		10/31/2022		730,000		730,013,539
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)		0.41%		01/31/2023		412,400		412,493,852
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		04/30/2023		1,330,000		1,330,100,459
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		07/31/2023		1,085,000		1,085,029,584
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)		0.40%		10/31/2023		1,238,679		1,238,723,205
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate - 0.02%)^(b)		0.35%		01/31/2024		230,000		229,924,030
								5,420,307,585

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

14 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. Treasury Notes-8.58%
U.S. Treasury Notes		2.38%		03/15/2022	$	46,000	$	46,040,879
U.S. Treasury Notes		1.75%		03/31/2022		650,000		650,895,927
U.S. Treasury Notes		1.88%		03/31/2022		925,000		926,373,709
U.S. Treasury Notes		1.75%		04/30/2022		50,000		50,137,302
U.S. Treasury Notes		1.88%		04/30/2022		150,000		150,446,901
U.S. Treasury Notes		1.75%		05/15/2022		135,000		135,465,164
U.S. Treasury Notes		2.13%		05/15/2022		190,000		190,803,023
U.S. Treasury Notes		1.75%		05/31/2022		50,000		50,209,503
U.S. Treasury Notes		1.75%		06/30/2022		739,243		743,325,465
U.S. Treasury Notes		2.13%		06/30/2022		660,000		664,453,821
U.S. Treasury Notes		1.75%		07/15/2022		625,000		628,878,536
U.S. Treasury Notes		0.13%		07/31/2022		150,000		150,011,557
U.S. Treasury Notes		2.00%		07/31/2022		210,000		211,669,979
U.S. Treasury Notes		1.50%		08/15/2022		140,000		140,910,651
U.S. Treasury Notes		1.63%		08/15/2022		100,000		100,703,676
U.S. Treasury Notes		1.88%		08/31/2022		90,000		90,521,762
U.S. Treasury Notes		1.50%		09/15/2022		210,000		211,598,819
U.S. Treasury Notes		1.75%		09/30/2022		100,000		100,971,671
								5,243,418,345
Total U.S. Treasury Securities (Cost $37,277,467,198)								37,277,467,198

U.S. Government Sponsored Agency Securities-8.16%
Federal Farm Credit Bank (FFCB)-3.16%
Federal Farm Credit Bank (SOFR + 0.08%)^(b)		0.13%		03/10/2022		28,000		28,000,000
Federal Farm Credit Bank (SOFR + 0.09%)^(b)		0.13%		06/17/2022		65,000		65,000,000
Federal Farm Credit Bank (SOFR + 0.20%)^(b)		0.25%		06/23/2022		12,000		12,004,748
Federal Farm Credit Bank (SOFR + 0.19%)^(b)		0.24%		07/14/2022		28,000		28,000,000
Federal Farm Credit Bank (SOFR + 0.15%)^(b)		0.19%		07/28/2022		45,000		45,000,000
Federal Farm Credit Bank (SOFR + 0.07%)^(b)		0.12%		08/11/2022		108,000		108,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		08/26/2022		97,500		97,497,588
Federal Farm Credit Bank (SOFR + 0.09%)^(b)		0.13%		10/07/2022		30,000		30,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		10/12/2022		18,000		18,000,562
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		10/21/2022		20,000		20,000,000
Federal Farm Credit Bank (SOFR + 0.08%)^(b)		0.13%		11/03/2022		35,000		35,000,000
Federal Farm Credit Bank (SOFR + 0.01%)^(b)		0.06%		11/16/2022		185,000		184,997,327
Federal Farm Credit Bank (SOFR + 0.07%)^(b)		0.12%		11/18/2022		56,000		56,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		12/01/2022		74,000		74,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		12/28/2022		350,000		350,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		02/09/2023		18,000		18,000,000
Federal Farm Credit Bank (SOFR + 0.02%)^(b)		0.07%		06/12/2023		75,000		75,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		06/14/2023		58,000		58,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		07/07/2023		143,000		143,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.07%		09/08/2023		155,000		155,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		09/18/2023		21,500		21,500,000
Federal Farm Credit Bank (SOFR + 0.04%)^(b)		0.09%		09/20/2023		25,000		25,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.07%		09/27/2023		60,000		60,000,000

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

15 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
Federal Farm Credit Bank (FFCB)-(continued)
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.10%		11/07/2023	$	50,000	$	50,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		12/13/2023		84,000		84,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		01/10/2024		75,500		75,500,000
Federal Farm Credit Bank (SOFR + 0.04%)^(b)		0.09%		01/25/2024		15,000		15,000,000
								1,931,500,225

Federal Home Loan Bank (FHLB)-4.23%
Federal Home Loan Bank		0.05%		03/17/2022		200,000		199,998,812
Federal Home Loan Bank (SOFR + 0.07%)^(b)		0.12%		04/14/2022		45,000		45,000,000
Federal Home Loan Bank (SOFR + 0.07%)^(b)		0.11%		04/28/2022		28,000		28,000,000
Federal Home Loan Bank		0.06%		05/06/2022		29,000		28,999,425
Federal Home Loan Bank^(a)		0.27%		05/11/2022		244,000		243,872,476
Federal Home Loan Bank (SOFR + 0.06%)^(b)		0.11%		05/12/2022		35,000		35,000,000
Federal Home Loan Bank^(a)		0.40%		05/18/2022		114,800		114,700,507
Federal Home Loan Bank^(a)		0.40%		05/20/2022		1,101,000		1,100,021,333
Federal Home Loan Bank		2.13%		06/10/2022		55,750		56,054,443
Federal Home Loan Bank (SOFR + 0.13%)^(b)		0.18%		08/05/2022		80,000		80,000,000
Federal Home Loan Bank (SOFR + 0.09%)^(b)		0.14%		08/19/2022		380,000		380,003,070
Federal Home Loan Bank (SOFR + 0.09%)^(b)		0.13%		10/05/2022		80,000		80,000,000
Federal Home Loan Bank (SOFR + 0.06%)^(b)		0.11%		12/08/2022		63,200		63,202,161
Federal Home Loan Bank (SOFR + 0.06%)^(b)		0.11%		12/16/2022		3,500		3,500,845
Federal Home Loan Bank (SOFR + 0.03%)^(b)		0.08%		06/07/2023		125,000		125,000,000
								2,583,353,072

Federal Home Loan Mortgage Corp. (FHLMC)-0.40%
Federal Home Loan Mortgage Corp.		0.25%		06/08/2022		15,510		15,517,146
Federal Home Loan Mortgage Corp.		0.13%		07/25/2022		38,000		38,002,165
Federal Home Loan Mortgage Corp. (SOFR + 0.09%)^(b)		0.14%		09/16/2022		190,000		190,000,000
								243,519,311

Federal National Mortgage Association (FNMA)-0.00%
Federal National Mortgage Association^(a)		0.20%		03/09/2022		2,500		2,499,889

U.S. International Development Finance Corp. (DFC)-0.37%
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		06/15/2025		16,800		16,800,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		07/15/2025		18,278		18,277,780
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/15/2025		3,947		3,947,368
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/15/2026		4,750		4,750,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/15/2026		7,917		7,916,667
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		08/13/2027		8,000		8,000,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		08/13/2027		4,600		4,600,000

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

16 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. International Development Finance Corp. (DFC)-(continued)
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/30/2027	$	12,000	$	12,000,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		02/15/2028		13,333		13,333,333
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		11/15/2028		61,364		61,363,637
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.20%		05/15/2030		7,488		7,488,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		10/15/2030		7,778		7,777,778
U.S. International Development Finance Corp. VRD Notes (3 mo. U.S. Treasury Bill Rate)^(c)		0.16%		07/09/2026		22,950		22,950,000
U.S. International Development Finance Corp. VRD Notes (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		03/15/2030		37,125		37,125,000
								226,329,563
Total U.S. Government Sponsored Agency Securities (Cost $4,987,202,060)								4,987,202,060
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-69.17% (Cost $42,264,669,258)								42,264,669,258

					Repurchase Amount
Repurchase Agreements-35.49%^(d)

ABN AMRO Bank N.V., agreement dated 02/28/2022, maturing value of $350,000,486 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $357,000,074; 1.30% - 4.50%; 06/30/2022 - 09/16/2063)		0.05%		03/01/2022		350,000,486		350,000,000
ABN AMRO Bank N.V., agreement dated 02/28/2022, maturing value of $450,000,625 (collateralized by U.S. Treasury obligations valued at $459,000,068; 0.13% - 3.38%; 06/30/2022 - 02/15/2051)		0.05%		03/01/2022		450,000,625		450,000,000
Bank of Montreal, joint term agreement dated 02/10/2022, aggregate maturing value of $250,014,583 (collateralized by domestic agency mortgage-backed securities valued at $255,000,000; 2.50% - 4.50%; 11/01/2046 - 02/01/2052)^(e)		0.06%		03/17/2022		125,007,292		125,000,000
BNP Paribas Securities Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $500,004,861 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,007; 0.00% - 7.00%; 06/21/2022 - 02/01/2052)^(e)		0.05%		03/01/2022		385,003,743		385,000,000
BofA Securities, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $745,001,035 (collateralized by domestic agency mortgage-backed securities valued at $759,900,001; 0.46% - 7.50%; 09/25/2022 - 01/01/2052)		0.05%		03/01/2022		238,000,331		238,000,000
CIBC World Markets Corp., joint term agreement dated 01/24/2022, aggregate maturing value of $500,043,333 (collateralized by domestic agency mortgage-backed securities valued at $510,000,000; 1.50% - 4.50%; 10/01/2036 - 03/01/2052)^(e)		0.06%		03/17/2022		350,030,333		350,000,000
CIBC World Markets Corp., joint term agreement dated 02/07/2022, aggregate maturing value of $350,020,319 (collateralized by U.S. Treasury obligations valued at $357,000,019; 0.00% - 4.50%; 07/14/2022 - 02/15/2051)^(e)		0.06%		03/17/2022		200,011,611		200,000,000
Citigroup Global Markets, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $400,000,556 (collateralized by U.S. Treasury obligations valued at $408,000,001; 0.00% - 0.13%; 01/15/2023 - 02/15/2051)		0.05%		03/01/2022		113,000,157		113,000,000

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

17 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Repurchase Amount		Value
Citigroup Global Markets, Inc., joint term agreement dated 02/22/2022, aggregate maturing value of $500,005,833 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,029; 0.00% - 17.46%; 07/31/2023 - 07/20/2070)^(e)		0.06%		03/01/2022	$	400,004,667	$	400,000,000
Credit Agricole Corporate & Investment Bank, agreement dated 02/28/2022, maturing value of $200,000,278 (collateralized by a domestic agency mortgage-backed security valued at $204,000,001; 2.00%; 01/20/2051)		0.05%		03/01/2022		200,000,278		200,000,000
Credit Agricole Corporate & Investment Bank, joint open agreement dated 12/01/2021 (collateralized by U.S. Treasury obligations valued at $2,032,860,462; 0.13% - 3.13%; 04/15/2024 - 11/15/2050)^(f)		0.05%		03/01/2022		1,242,047,955		1,242,000,000
Federal Reserve Bank of New York, joint agreement dated 02/28/2022, aggregate maturing value of $800,001,111 (collateralized by U.S. Treasury obligations valued at $800,001,169; 0.13%; 11/30/2022)		0.05%		03/01/2022		600,000,833		600,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), agreement dated 02/28/2022, maturing value of $3,500,004,861 (collateralized by U.S. Treasury obligations valued at $3,570,000,054; 0.13% - 3.88%; 01/15/2026 - 02/15/2044)		0.05%		03/01/2022		3,500,004,861		3,500,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), joint agreement dated 02/28/2022, aggregate maturing value of $612,000,085 (collateralized by U.S. Treasury obligations valued at $624,240,130; 0.00%; 08/11/2022)		0.01%		03/01/2022		412,000,057		412,000,000
Fixed Income Clearing Corp. - State Street Bank, agreement dated 02/28/2022, maturing value of $300,000,083 (collateralized by U.S. Treasury obligations valued at $306,000,068; 0.13% - 0.47%; 04/15/2022 - 04/30/2022)		0.01%		03/01/2022		300,000,083		300,000,000
Goldman Sachs & Co., agreement dated 02/28/2022, maturing value of $500,000,139 (collateralized by U.S. Treasury obligations valued at $510,000,000; 0.00% - 7.63%; 04/07/2022 - 02/15/2052)		0.01%		03/01/2022		500,000,139		500,000,000
Goldman Sachs & Co., term agreement dated 02/22/2022, maturing value of $295,003,155 (collateralized by U.S. Treasury obligations valued at $300,900,027; 0.00% - 2.50%; 08/15/2022 - 02/28/2026)^(e)		0.06%		03/01/2022		295,003,155		295,000,000
ING Financial Markets, LLC, joint term agreement dated 02/22/2022, aggregate maturing value of $200,008,944 (collateralized by domestic agency mortgage-backed securities valued at $204,000,000; 1.50% - 4.50%; 10/01/2029 - 05/01/2058)		0.07%		03/17/2022		130,005,814		130,000,000
ING Financial Markets, LLC, joint term agreement dated 12/28/2021, aggregate maturing value of $350,070,000 (collateralized by U.S. government sponsored agency obligations and domestic agency mortgage-backed securities valued at $357,000,395; 0.00% - 7.50%; 12/28/2022 - 05/01/2058)		0.08%		03/28/2022		300,060,000		300,000,000
ING Financial Markets, LLC, term agreement dated 02/07/2022, maturing value of $200,010,667 (collateralized by domestic agency mortgage-backed securities valued at $204,000,000; 1.50% - 7.50%; 06/01/2027 -02/01/2052)		0.06%		03/11/2022		200,010,667		200,000,000
ING Financial Markets, LLC, term agreement dated 02/10/2022, maturing value of $275,013,292 (collateralized by U.S. government sponsored agency obligations and domestic agency mortgage-backed securities valued at $280,500,646; 0.00% - 5.00%; 04/05/2022 - 02/01/2052)		0.06%		03/11/2022		275,013,292		275,000,000
J.P. Morgan Securities LLC, joint agreement dated 02/28/2022, aggregate maturing value of $1,000,001,667 (collateralized by domestic agency mortgage-backed securities valued at $1,020,000,000; 0.46% - 7.50%; 06/25/2025 - 10/16/2062)		0.06%		03/01/2022		800,001,333		800,000,000
J.P. Morgan Securities LLC, joint open agreement dated 03/27/2020 (collateralized by U.S. Treasury obligations valued at $867,001,467; 0.00% -2.38%; 03/03/2022 - 05/15/2050)^(f)		0.05%		03/01/2022		150,005,792		150,000,000
J.P. Morgan Securities LLC, joint open agreement dated 07/01/2021 (collateralized by domestic agency mortgage-backed securities valued at $239,700,000; 0.47% - 6.00%; 01/01/2026 - 10/15/2061)^(f)		0.06%		03/01/2022		210,009,742		210,000,000

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

18 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Repurchase Amount		Value
J.P. Morgan Securities LLC, joint open agreement dated 07/01/2021 (collateralized by domestic agency mortgage-backed securities valued at $280,500,035; 1.85% - 6.00%; 07/01/2026 - 02/20/2052)^(f)		0.07%		03/01/2022	$	240,013,000	$	240,000,000
J.P. Morgan Securities LLC, joint open agreement dated 10/15/2019 (collateralized by domestic agency mortgage-backed securities valued at $382,500,005; 0.46% - 7.50%; 12/15/2026 - 02/16/2058)^(f)		0.07%		03/01/2022		275,014,896		275,000,000
Metropolitan Life Insurance Co., joint term agreement dated 02/23/2022, aggregate maturing value of $350,014,295 (collateralized by U.S. Treasury obligations valued at $358,935,903; 0.00%; 08/15/2027 - 11/15/2045)^(e)		0.07%		03/02/2022		170,004,314		170,002,000
Mitsubishi UFJ Trust & Banking Corp., agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by domestic agency mortgage-backed securities valued at $510,000,000; 0.30% - 3.50%; 08/25/2027 -01/20/2052)		0.05%		03/01/2022		500,000,694		500,000,000
Mitsubishi UFJ Trust & Banking Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $768,135,455 (collateralized by U.S. Treasury obligations valued at $788,525,747; 1.13%; 02/28/2025 - 02/28/2027)^(e)		0.07%		03/02/2022		338,192,103		338,187,500
Mizuho Securities (USA) LLC, agreement dated 02/28/2022, maturing value of $200,000,278 (collateralized by U.S. Treasury obligations valued at $204,000,019; 0.00%; 03/31/2022 - 08/04/2022)		0.05%		03/01/2022		200,000,278		200,000,000
Prudential Insurance Co. of America, agreement dated 02/28/2022, maturing value of $509,883,350 (collateralized by U.S. Treasury obligations valued at $528,644,040; 0.00%; 02/15/2026 - 11/15/2043)		0.06%		03/01/2022		509,883,350		509,882,500
RBC Capital Markets LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $750,001,875 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $765,000,244; 0.13% - 8.00%; 03/01/2022 - 08/20/2065)^(e)(g)		0.09%		03/01/2022		600,001,500		600,000,000
RBC Dominion Securities Inc., agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,049; 0.00% - 5.50%; 07/15/2024 - 01/15/2052)		0.05%		03/01/2022		500,000,694		500,000,000
RBC Dominion Securities Inc., joint term agreement dated 01/11/2022, aggregate maturing value of $500,049,167 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,022; 0.00% - 6.00%; 03/31/2022 - 01/15/2052)^(e)		0.06%		03/11/2022		250,024,583		250,000,000
RBC Dominion Securities Inc., joint term agreement dated 01/19/2022, aggregate maturing value of $1,000,076,389 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 5.50%; 02/15/2030 - 01/15/2052)^(e)		0.06%		03/10/2022		875,066,840		875,000,000
RBC Dominion Securities Inc., joint term agreement dated 02/08/2022, aggregate maturing value of $500,016,667 (collateralized by U.S. Treasury obligations valued at $510,000,124; 0.13% - 6.00%; 07/15/2024 - 02/15/2050)^(e)		0.05%		03/04/2022		200,006,667		200,000,000
RBC Dominion Securities Inc., joint term agreement dated 02/24/2022, aggregate maturing value of $500,004,861 (collateralized by U.S. Treasury obligations valued at $510,000,087; 0.13% - 5.25%; 04/30/2022 - 02/15/2052)^(e)		0.05%		03/03/2022		250,002,431		250,000,000
Royal Bank of Canada, joint term agreement dated 02/11/2022, aggregate maturing value of $100,004,583 (collateralized by U.S. Treasury obligations valued at $102,000,076; 0.13% - 2.75%; 05/15/2022 - 11/15/2041)^(e)		0.05%		03/16/2022		50,002,292		50,000,000
Societe Generale, joint agreement dated 02/28/2022, aggregate maturing value of $1,600,002,222 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,632,000,047; 0.00% - 7.13%; 03/15/2022 - 02/01/2052)		0.05%		03/01/2022		1,350,001,875		1,350,000,000

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

19 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Repurchase Amount		Value
Societe Generale, joint open agreement dated 01/05/2022 (collateralized by U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 7.63%; 03/01/2022 - 02/15/2052)^(f)		0.05%		03/01/2022	$	575,000,799	$	575,000,000

Societe Generale, joint open agreement dated 01/12/2022 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,530,000,206; 0.00% -7.63%; 03/01/2022 - 10/01/2051)^(f)		0.05%		03/01/2022		890,001,236		890,000,000

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)		0.06%		03/01/2022		455,713,751		455,712,991

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,700,003,750 (collateralized by U.S. Treasury obligations valued at $2,754,000,090; 0.38% - 2.88%; 07/31/2022 - 02/15/2051)		0.05%		03/01/2022		1,672,156,235		1,672,153,913

TD Securities (USA) LLC, term agreement dated 02/23/2022, maturing value of $55,000,588 (collateralized by a U.S. Treasury obligation valued at $56,100,009; 2.75%; 11/15/2023)^(e)		0.06%		03/02/2022		55,000,588		55,000,000

Total Repurchase Agreements (Cost $21,680,938,904)								21,680,938,904

TOTAL INVESTMENTS IN SECURITIES-104.66% (Cost $63,945,608,162)								63,945,608,162

OTHER ASSETS LESS LIABILITIES-(4.66)%								(2,849,604,491	)

NET ASSETS-100.00%							$	61,096,003,671

Investment Abbreviations:

SOFR	-Secured Overnight Financing Rate

VRD	-Variable Rate Demand

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(c)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(d)	Principal amount equals value at period end. See Note 1I.

^(e)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(f)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(g)	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

Portfolio Composition by Maturity*

In days, as of 02/28/2022



1-7	30.1	%
8-30	5.5
31-60	15.4
61-90	9.7
91-180	25.6
181+	13.7

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

20 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Treasury Obligations Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. Treasury Securities-113.88%
U.S. Treasury Bills-96.41%^(a)
U.S. Treasury Bills		0.06%		03/01/2022	$	73,600	$	73,600,000
U.S. Treasury Bills		0.01%-0.05%		03/03/2022		40,700		40,699,891
U.S. Treasury Bills		0.06%		03/08/2022		84,000		83,999,469
U.S. Treasury Bills		0.06%-0.07%		03/10/2022		32,000		31,999,504
U.S. Treasury Bills		0.02%-0.05%		03/15/2022		105,000		104,998,816
U.S. Treasury Bills		0.06%		03/17/2022		20,500		20,499,499
U.S. Treasury Bills		0.05%-0.08%		03/22/2022		86,938		86,933,792
U.S. Treasury Bills		0.14%		03/29/2022		88,600		88,594,856
U.S. Treasury Bills		0.09%		03/31/2022		15,650		15,648,891
U.S. Treasury Bills		0.14%		04/05/2022		30,000		29,995,916
U.S. Treasury Bills		0.09%		04/07/2022		30,000		29,997,225
U.S. Treasury Bills		0.25%		04/12/2022		70,000		69,979,583
U.S. Treasury Bills		0.12%		04/14/2022		20,000		19,997,030
U.S. Treasury Bills		0.25%		04/19/2022		80,000		79,972,778
U.S. Treasury Bills		0.07%-0.17%		04/21/2022		21,000		20,996,391
U.S. Treasury Bills		0.11%		04/26/2022		70,000		69,981,022
U.S. Treasury Bills		0.19%		04/28/2022		21,000		20,993,572
U.S. Treasury Bills		0.21%		05/03/2022		8,000		7,997,130
U.S. Treasury Bills		0.24%		05/05/2022		30,000		29,987,000
U.S. Treasury Bills		0.26%		05/10/2022		1,467		1,466,265
U.S. Treasury Bills		0.29%		05/12/2022		30,000		29,982,600
U.S. Treasury Bills		0.23%		05/17/2022		11,000		10,994,590
U.S. Treasury Bills		0.40%		05/19/2022		7,000		6,993,902
U.S. Treasury Bills		0.28%		05/24/2022		11,000		10,993,058
U.S. Treasury Bills		0.38%		05/26/2022		30,000		29,972,767
U.S. Treasury Bills		0.29%		05/31/2022		20,000		19,985,781
U.S. Treasury Bills		0.09%		06/02/2022		54,000		53,953,570
U.S. Treasury Bills		0.34%		06/07/2022		15,000		14,986,117
U.S. Treasury Bills		0.07%		06/16/2022		3,000		2,999,376
U.S. Treasury Bills		0.55%		06/21/2022		16,000		15,972,622
U.S. Treasury Bills		0.57%		06/28/2022		29,000		28,945,359
U.S. Treasury Bills		0.38%		07/07/2022		7,000		6,990,505
U.S. Treasury Bills		0.71%		08/25/2022		12,000		11,958,110
								1,173,066,987

U.S. Treasury Floating Rate Notes-17.06%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)		0.47%		04/30/2022		55,000		55,002,639
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		07/31/2022		22,000		22,000,544
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		10/31/2022		45,000		44,999,181
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)		0.41%		01/31/2023		11,000		11,001,688
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		04/30/2023		19,000		19,000,897

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

21 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Obligations Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. Treasury Floating Rate Notes-(continued)
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		07/31/2023	$	17,500	$	17,500,602

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)		0.40%		10/31/2023		30,000		30,000,861

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate -0.02%)^(b)		0.35%		01/31/2024		8,000		7,997,358

								207,503,770


U.S. Treasury Notes-0.41%
U.S. Treasury Notes (Cost $5,036,995)		1.88%		07/31/2022		5,000		5,036,995

TOTAL INVESTMENTS IN SECURITIES-113.88% (Cost $1,385,607,752)								1,385,607,752

OTHER ASSETS LESS LIABILITIES-(13.88)%								(168,891,225	)

NET ASSETS-100.00%							$	1,216,716,527

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

Portfolio Composition by Maturity*

In days, as of 02/28/2022



1-7	8.3	%
8-30	30.1
31-60	25.8
61-90	13.2
91-180	13.2
181+	9.4

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

22 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio


	Interest Rate			Maturity Date		Principal Amount (000)		Value
Municipal Obligations-99.97%
Alabama-3.24%
Mobile (County of), AL Industrial Development Authority (SSAB Alabama, Inc.); Series 2010 A, VRD RB (LOC - Swedbank AB)^(a)(b)(c)		0.28%			07/01/2040	$	5,500	$	5,500,000

Arizona-3.20%
Casa Grande (City of), AZ Industrial Development Authority (Quail Gardens Apartments); Series 2001 A, Ref. VRD RB (CEP - FNMA)^(b)		0.20%			06/15/2031		2,685		2,685,000
Sierra Vista (City of), AZ Industrial Development Authority (Mountain Steppes Apartments); Series 2001 A, Ref. VRD RB (CEP - FNMA)^(b)		0.20%			06/15/2031		2,745		2,745,000
									5,430,000

California-1.47%
California (State of);
Series 2022 A-1, Commercial Paper Notes (LOC - Wells Fargo Bank N.A.)^(c)		0.17%			03/01/2022		1,500		1,500,000
Series 2022 A-5, Commercial Paper Notes (LOC - U.S. Bank N.A.)^(c)		0.17%			03/01/2022		1,000		1,000,000
									2,500,000

Delaware-2.47%
Delaware (State of) Economic Development Authority (Goodwill Industries of Delaware & Delaware County); Series 2006, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.20%			09/01/2036		2,655		2,655,000
Delaware (State of) Economic Development Authority (YMCA of Delaware); Series 2007, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.21%			05/01/2036		1,535		1,535,000
									4,190,000

District of Columbia-1.66%
District of Columbia (Medlantic/Helix); Series 1998 A, VRD RB (LOC - TD Bank N.A.)^(a)(b)(c)		0.19	%		08/15/2038		2,820		2,820,000

Florida-6.01%
Palm Beach (County of), FL (Henry Morrison Flagler Museum); Series 2003, VRD RB (LOC - Northern Trust Co. (The))^(b)(c)		0.25%			11/01/2036		2,725		2,725,000
Palm Beach (County of), FL (The Raymond F. Kravis Center for the Performing Arts, Inc.); Series 2002, VRD RB (LOC - Northern Trust Co. (The))^(b)(c)		0.21%			07/01/2032		2,400		2,400,000
Sarasota (County of), FL Public Hospital District (Sarasota Memorial Hospital); Series 2008 B, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(b)(c)		0.20%			07/01/2037		5,075		5,075,000
									10,200,000

Georgia-1.13%
Atlanta (City of), GA Georgia Development Authority (Perkins + Will, Inc.); Series 2010, VRD RB (LOC - BMO Harris Bank N.A.)^(a)(b)(c)		0.20%			11/01/2030		1,920		1,920,000

Illinois-10.32%
Illinois (State of) Educational Facilities Authority (The Adler Planetarium); Series 1997, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.20%			04/01/2031		5,000		5,000,000
Illinois (State of) Finance Authority (Northwestern University); Subseries 2008 B, VRD RB^(b)		0.20%			12/01/2046		5,730		5,730,000
Illinois (State of) Finance Authority (Uhlich Children’s Home); Series 2002, VRD IDR (LOC - U.S. Bank N.A.)^(b)(c)		0.20%			10/01/2033		2,625		2,625,000
Illinois (State of) Housing Development Authority (Foxview I & II Apartments); Series 2008, VRD MFH RB (LOC - FHLMC)^(b)(c)		0.13%			01/01/2041		4,160		4,160,000
									17,515,000

Indiana-1.83%
Huntington (City of), IN (Huntington University); Series 2007, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(b)(c)		0.25%			08/01/2037		3,105		3,105,000

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

23 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
Iowa-1.65%
Iowa (State of) Finance Authority (CJ Bio America); Series 2021, Ref. VRD RB^(a)(b)(d)		0.24%		12/01/2041	$	2,805	$	2,805,000

Louisiana-3.64%
Louisiana (State of) Offshore Terminal Authority Deepwater Port (Loop LLC); Series 2013 B, Ref. VRD RB (LOC - JPMorgan Chase Bank N.A.)^(b)(c)		0.23%		09/01/2033		1,000		1,000,000
Louisiana (State of) Public Facilities Authority (CHRISTUS Health);
Series 2009 B-3, Ref. VRD RB (LOC - Bank of New York Mellon (The))^(b)(c)		0.21%		07/01/2047		4,085		4,085,000
Series 2009 B-1, Ref. VRD RB (LOC - Bank of New York Mellon (The))^(b)(c)		0.21%		07/01/2047		1,100		1,100,000
								6,185,000

Maryland-0.59%
Montgomery (County of), MD; Series 2010 B, Commercial Paper Notes		0.10%		03/01/2022		1,000		1,000,000

Massachusetts-4.71%
Massachusetts (State of) Department of Transportation; Series 2010 A-1, VRD Metropolitan Highway System RB (LOC - Citibank N.A.)^(b)(c)		0.16%		01/01/2037		3,000		3,000,000
Massachusetts (State of) Health & Educational Facilities Authority; Series 2021 EE, Commercial Paper Notes		0.09%		03/01/2022		5,000		5,000,000
								8,000,000

Michigan-3.15%
Kent (County of), MI Hospital Finance Authority (Spectrum Health System); Series 2008 C, Ref. VRD RB (LOC - Bank of New York Mellon (The))^(b)(c)		0.21%		01/15/2026		820		820,000
Michigan State University Board of Trustees;
Series 2000 A-1, VRD RB^(b)		0.21%		08/15/2030		3,620		3,620,000
Series 2000 A-2, VRD RB^(b)		0.21%		08/15/2030		910		910,000
								5,350,000

Minnesota-5.82%
Burnsville (City of), MN (Bridgeway Apartments L.P.); Series 2003, Ref. VRD RB (CEP - FNMA)^(b)		0.28%		10/15/2033		1,175		1,175,000
Oak Park Heights (City of), MN (Boutwells Landing); Series 2005, Ref. VRD RB (CEP - FHLMC)^(b)		0.19%		11/01/2035		3,700		3,700,000
St. Paul (City of), MN Housing & Redevelopment Authority (Highland Ridge, L.P.); Series 2003, Ref. VRD RB (CEP - FHLMC)^(b)		0.19%		10/01/2033		1,000		1,000,000
University of Minnesota; Series 2022 H, Commercial Paper Notes		0.26%		03/17/2022		4,000		4,000,000
								9,875,000

Mississippi-1.95%
Mississippi Business Finance Corp. (Chevron U.S.A., Inc.);
Series 2010 C, VRD IDR^(b)		0.22%		12/01/2030		585		585,000
Series 2010 E, VRD IDR^(b)		0.22%		12/01/2030		2,730		2,730,000
								3,315,000

Missouri-1.59%
Bridgeton (City of), MO Industrial Development Authority (Stolze Printing); Series 2010, VRD RB (LOC - FHLB of Chicago)^(b)(c)		0.20%		11/01/2037		1,320		1,320,000
Missouri (State of) Development Finance Board (Kopytek Printing); Series 2010, VRD IDR (LOC - FHLB of Chicago)^(b)(c)		0.35%		08/01/2038		1,385		1,385,000
								2,705,000

New Jersey-2.94%
New Jersey (State of) Health Care Facilities Financing Authority (Virtua Health); Series 2009 D, VRD RB (LOC - TD Bank N.A.)^(a)(b)(c)		0.18%		07/01/2043		5,000		5,000,000

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

24 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
New York-4.08%
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.19%		11/15/2046	$	3,320	$	3,320,000
New York (State of) Energy Research & Development Authority (Consolidated Edison Co. of New York, Inc.); Subseries 2005 A-2, VRD RB (LOC - Mizuho Bank Ltd.)^(a)(b)(c)		0.19%		05/01/2039		3,600		3,600,000
								6,920,000

North Carolina-0.76%
North Carolina (State of) Educational Facilities Finance Agency (Duke University); Series 1992 A, VRD RB^(b)		0.15%		06/01/2027		1,285		1,285,000

Ohio-1.67%
Lorain (County of), OH Port Authority (St. Ignatius High School); Series 2008, VRD RB (LOC - U.S. Bank N.A.)^(b)(c)		0.20%		08/02/2038		2,835		2,835,000

Pennsylvania-1.55%
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.19%		06/01/2037		1,320		1,320,000
Lebanon (County of), PA Health Facilities Authority (E.C.C. Retirement Village); Series 2000, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.20%		10/15/2025		310		310,000
Philadelphia (City of), PA; Series 2022 A, Commercial Paper Notes^(a)		0.35%		03/24/2022		1,000		1,000,000
								2,630,000

Rhode Island-2.65%
Rhode Island Health & Educational Building Corp. (Brown University); Series 2003 B, VRD RB^(b)		0.21%		09/01/2043		4,500		4,500,000

Texas-19.92%
Board of Regents of the University of Texas System; Series 2008 B, VRD RB^(b)		0.17%		08/01/2025		1,615		1,615,000
Garland (City of), TX; Series 2021, Commercial Paper Notes		0.13%		04/05/2022		5,000		5,000,000
Harris (County of), TX Hospital District; Series 2010, Ref. VRD RB (LOC - JPMorgan Chase Bank N.A.)^(b)(c)		0.21%		02/15/2042		5,700		5,700,000
Houston (City of), TX; Series 2018 E-2, GO Commercial Paper Notes		0.22%		03/16/2022		4,000		4,000,000
Houston (City of), TX (Combined Utility System); Series 2004 B-3, Ref. VRD RB (LOC - Sumitomo Mitsui Banking Corp.)^(a)(b)(c)		0.21%		05/15/2034		5,250		5,250,000
San Gabriel Health Facilities Development Corp. (YMCA of Greater Williamson County); Series 2005, VRD RB (LOC - JPMorgan Chase Bank N.A.)^(b)(c)		0.24%		04/01/2026		1,890		1,890,000
Texas (State of) Department of Housing & Community Affairs (Costa Mariposa Apartments); Series 2009, VRD RB (CEP - FHLMC)^(b)		0.26%		05/01/2042		2,375		2,375,000
Texas A&M University System Board of Regents; Series 2021 B, Commercial Paper Notes		0.14%		06/02/2022		5,000		5,000,000
University of Texas Board of Regents; Series 2018, Revenue Financing System Commercial Paper Notes		0.29%		04/06/2022		3,000		3,000,000
								33,830,000

Virginia-2.53%
Norfolk (City of), VA; Series 2007, VRD GO Bonds^(b)		0.21%		08/01/2037		4,300		4,300,000

Washington-3.25%
Washington (State of) Housing Finance Commission (Kitts Corner Apartments); Series 2014, VRD RB (LOC - FHLB of San Francisco)^(b)(c)		0.13%		09/01/2049		3,375		3,375,000
Washington (State of) Housing Finance Commission (Redmond Ridge Apartments); Series 2017, VRD RB (LOC - FHLB of San Francisco)^(b)(c)		0.13%		11/01/2047		2,145		2,145,000
								5,520,000

West Virginia-4.29%
Cabell (County of), WV (Provident Group - Marshall Properties LLC - Marshall University); Series 2010 A, VRD RB (LOC - Bank of America N.A.)^(b)(c)		0.21%		07/01/2039		845		845,000

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

25 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
West Virginia-(continued)
West Virginia (State of) Hospital Finance Authority (Cabell Huntington Hospital, Inc.); Series 2008 B, Ref. VRD RB (LOC - Branch Banking & Trust Co.)^(b)(c)		0.27%		01/01/2034		$6,445	$	6,445,000
								7,290,000

Wisconsin-1.90%
Lima (Town of), WI (Sharon S. Richardson Community Hospice, Inc.); Series 2009, VRD RB (LOC - FHLB of Chicago)^(b)(c)		0.21%		10/01/2042		3,230		3,230,000
TOTAL INVESTMENTS IN SECURITIES^(e)(f)-99.97% (Cost $169,755,000)								169,755,000
OTHER ASSETS LESS LIABILITIES-0.03%								54,772
NET ASSETS-100.00%							$	169,809,772


Investment Abbreviations:
CEP		- Credit Enhancement Provider
FHLB		- Federal Home Loan Bank
FHLMC		- Federal Home Loan Mortgage Corp.
FNMA		- Federal National Mortgage Association
GO		- General Obligation
IDR		- Industrial Development Revenue Bonds
LOC		- Letter of Credit
MFH		- Multi-Family Housing
RB		- Revenue Bonds
Ref.		- Refunding
VRD		- Variable Rate Demand

Notes to Schedule of Investments:

^(a)	The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: Canada:5.7%;Japan:5.2%;other countries less than 5% each: 5.5%.

^(b)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(c)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(d)

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 value of this security at February 28, 2022 represented 1.65% of the Fund’s Net Assets.

^(e)	Also represents cost for federal income tax purposes.

^(f)

This table provides a listing of those entities that have either issued, guaranteed, backed or otherwise enhanced the credit quality of more than 5% of the securities held in the portfolio. In instances where the entity has guaranteed, backed or otherwise enhanced the credit quality of a security, it is not primarily responsible for the issuer’s obligations but may be called upon to satisfy the issuer’s obligations.


Entities	Percentage
PNC Bank N.A.		8.3%
Federal Home Loan Banks		6.8
Federal Home Loan Mortgage Corporation		6.6
Wells Fargo Bank N.A.		5.7
JPMorgan Chase Bank, N.A.		5.1

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

26 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)

Portfolio Composition by Maturity*

In days, as of 02/28/2022



1-7	87.0	%
8-30	5.3
31-60	4.7
61-90	0.0
91-180	3.0
181+	0.0

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

27 Short-Term Investments Trust

Statements of Assets and Liabilities

February 28, 2022

(Unaudited)


	Invesco Liquid Assets Portfolio			Invesco STIC Prime Portfolio			Invesco Treasury Portfolio			Invesco Government & Agency Portfolio		Invesco Treasury Obligations Portfolio			Invesco Tax-Free Cash Reserve Portfolio

Assets:
Investments in unaffiliated securities, at value	$	1,690,271,922		$	191,977,496		$	13,165,027,105		$	42,264,669,258	$	1,385,607,752		$	169,755,000

Repurchase agreements, at value and cost		550,898,981			84,326,230			9,643,911,550			21,680,938,904		-			-

Cash		-			-			-			-		37,752			-

Receivable for:
Fund shares sold		-			-			2,845			108,705		-			-

Interest		155,860			8,158			13,433,654			29,052,274		73,642			22,965

Fund expenses absorbed		106,833			33,665			1,417,208			2,190,429		109,348			87,930

Investment for trustee deferred compensation and retirement plans		3,524,447			951,741			2,115,902			963,666		102,725			329,541

Other assets		-			132,217			447,526			588,715		792			31,227

Total assets		2,244,958,043			277,429,507			22,826,355,790			63,978,511,951		1,385,932,011			170,226,663


Liabilities:
Payable for:
Investments purchased		29,986,825			13,993,951			898,693,915			2,846,428,808		168,883,059			-

Fund shares reacquired		-			-			12,000			24,638,227		-			-

Amount due custodian		-			-			1,574,127			1,508,529		-			-

Dividends		12,043			2,307			174,513			1,218,332		9,461			1,333

Accrued fees to affiliates		332,171			45,296			3,646,596			7,134,843		165,808			33,290

Accrued trustees’ and officers’ fees and benefits		5,730			3,681			29,867			69,304		4,476			3,395

Accrued operating expenses		28,399			5,900			282,157			288,795		35,540			30,140

Trustee deferred compensation and retirement plans		3,750,354			1,006,111			2,394,342			1,221,442		117,140			348,733

Total liabilities		34,115,522			15,057,246			906,807,517			2,882,508,280		169,215,484			416,891

Net assets applicable to shares outstanding	$	2,210,842,521		$	262,372,261		$	21,919,548,273		$	61,096,003,671	$	1,216,716,527		$	169,809,772


Net assets consist of:
Shares of beneficial interest	$	2,214,068,700		$	263,115,662		$	21,920,415,657		$	61,095,416,116	$	1,216,782,664		$	170,089,160

Distributable earnings (loss)		(3,226,179	)		(743,401	)		(867,384	)		587,555		(66,137	)		(279,388	)

	$	2,210,842,521		$	262,372,261		$	21,919,548,273		$	61,096,003,671	$	1,216,716,527		$	169,809,772


Net Assets:
Institutional Class	$	2,204,979,174		$	261,269,078		$	18,241,859,039		$	53,964,770,211	$	1,098,426,693		$	135,656,602

Private Investment Class	$	2,885,966		$	473,512		$	312,889,460		$	562,429,844	$	13,703,576		$	11,700,511

Personal Investment Class	$	10,246		$	92,856		$	379,824,634		$	15,716,834	$	10,077,798		$	1,333,813

Cash Management Class	$	2,385,218		$	428,281		$	476,970,117		$	956,426,056	$	78,410		$	4,202,044

Reserve Class	$	211,505		$	87,041		$	1,678,474,426		$	538,091,162	$	90,998,450		$	15,429,661

Resource Class	$	247,323		$	385		$	38,293,629		$	134,028,878	$	98,111		$	1,476,862

Corporate Class	$	23,129		$	21,108		$	279,646,266		$	1,018,276,963	$	3,333,489		$	10,279

CAVU Securities Class	$	99,960		$	-		$	511,590,702		$	3,906,263,723	$	-		$	-

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

28 Short-Term Investments Trust

Statements of Assets and Liabilities–(continued)

February 28, 2022

(Unaudited)


	Invesco Liquid Assets Portfolio		Invesco STIC Prime Portfolio		Invesco Treasury Portfolio		Invesco Government & Agency Portfolio		Invesco Treasury Obligations Portfolio		Invesco Tax-Free Cash Reserve Portfolio


Shares outstanding, no par value, unlimited number of shares authorized:
Institutional Class		2,205,019,784		261,262,354		18,240,410,505		53,964,110,943		1,098,435,692		135,636,048

Private Investment Class		2,886,030		473,500		312,866,402		562,417,907		13,703,762		11,698,732

Personal Investment Class		10,246		92,854		379,787,513		15,716,633		10,077,890		1,333,647

Cash Management Class		2,385,270		428,270		476,928,857		956,415,735		78,412		4,201,456

Reserve Class		211,509		87,039		1,678,353,435		538,081,580		90,998,347		15,427,388

Resource Class		247,328		385		38,290,367		134,025,688		98,112		1,476,639

Corporate Class		23,130		21,107		279,625,136		1,018,275,908		3,333,522		10,277

CAVU Securities Class		99,962		-		511,545,921		3,906,258,431		-		-

Net asset value, offering and redemption price per share for each class	$	1.0000	$	1.0000	$	1.00	$	1.00	$	1.00	$	1.00

Cost of Investments	$	2,241,779,487	$	276,300,889	$	22,808,938,655	$	63,945,608,162	$	1,385,607,752	$	169,755,000

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

29 Short-Term Investments Trust

Statements of Operations

For the six months ended February 28,

2022 (Unaudited)


	Invesco Liquid Assets Portfolio		Invesco STIC Prime Portfolio			Invesco Treasury Portfolio			Invesco Government & Agency Portfolio			Invesco Treasury Obligations Portfolio			Invesco Tax-Free Cash Reserve Portfolio

Investment income:
Interest	$	1,870,765	$	163,870		$	9,396,711		$	22,014,594		$	446,063		$	64,820


Expenses:
Advisory fees		1,538,049		194,005			16,592,349			27,022,435			701,350			156,141

Administrative services fees		461,582		57,036			4,949,534			11,947,185			221,111			34,579

Custodian fees		26,384		9,192			203,379			186,726			5,734			2,572

Distribution fees:
Private Investment Class		4,297		832			431,096			813,131			17,946			13,527

Personal Investment Class		27		253			868,352			29,956			18,366			3,039

Cash Management Class		1,037		196			192,510			360,118			60			1,764

Reserve Class		925		375			5,311,944			2,244,581			286,523			71,520

Resource Class		291		-			47,971			100,170			78			1,171

Corporate Class		4		3			39,942			129,084			549			2

Transfer agent fees		92,283		11,640			995,541			2,432,019			46,385			7,026

Trustees’ and officers’ fees and benefits		15,799		9,952			81,950			201,650			12,307			9,447

Registration and filing fees		53,276		41,241			472,941			393,620			69,312			51,606

Reports to shareholders		8,372		6,367			31,453			26,728			6,900			13,302

Professional services fees		27,007		21,757			80,198			137,188			24,164			21,099

Other		65,381		33,080			206,536			302,178			56,799			16,536

Total expenses		2,294,714		385,929			30,505,696			46,326,769			1,467,584			403,331

Less: Fees waived and expenses reimbursed		(547,540)		(235,281	)		(22,239,477	)		(31,376,941	)		(1,075,990	)		(346,495	)

Net expenses		1,747,174		150,648			8,266,219			14,949,828			391,594			56,836

Net investment income		123,591		13,222			1,130,492			7,064,766			54,469			7,984

Realized and unrealized gain (loss) from:
Net realized gain (loss) from unaffiliated investment securities		3,959		18			337,662			26,979			(17,701	)		-

Change in net unrealized appreciation (depreciation) of unaffiliated investment securities		(771,504)		3,071			-			-			-			-

Net realized and unrealized gain (loss)		(767,545)		3,089			337,662			26,979			(17,701	)		-

Net increase (decrease) in net assets resulting from operations	$	(643,954)	$	16,311		$	1,468,154		$	7,091,745		$	36,768		$	7,984

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

30 Short-Term Investments Trust

Statements of Changes in Net Assets

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Liquid Assets Portfolio						Invesco STIC Prime Portfolio
	February 28,			August 31,			February 28,			August 31,
	2022			2021			2022			2021

Operations:
Net investment income	$	123,591		$	1,034,618		$	13,222		$	24,474

Net realized gain		3,959			2,613			18			552

Change in net unrealized appreciation (depreciation)		(771,504	)		(496,709	)		3,071			(2,800	)

Net increase (decrease) in net assets resulting from operations		(643,954	)		540,522			16,311			22,226


Distributions to shareholders from distributable earnings:
Institutional Class		(123,275	)		(1,033,839	)		(13,153	)		(24,275	)

Private Investment Class		(146	)		(318	)		(29	)		(92	)

Personal Investment Class		(2	)		(4	)		(6	)		(31	)

Cash Management Class		(133	)		(359	)		(25	)		(52	)

Reserve Class		(12	)		(29	)		(5	)		(11	)

Resource Class		(15	)		(40	)		(2	)		(9	)

Corporate Class		(2	)		(13	)		(2	)		(4	)

CAVU Securities Class		(6	)		(16	)		-			-

Total distributions from distributable earnings		(123,591	)		(1,034,618	)		(13,222	)		(24,474	)


Share transactions-net:
Institutional Class		(150,618,800	)		(201,574,311	)		39,548,244			(99,033,118	)

Private Investment Class		(5,137	)		(648,893	)		(131,663	)		(671,036	)

Personal Investment Class		-			-			4			(302,491	)

Cash Management Class		(535,901	)		(24,434	)		(67,764	)		(7,793	)

Reserve Class		(4,019	)		(62,582	)		4			(18,402	)

Resource Class		(114,813	)		(3,337	)		-			(122,205	)

Corporate Class		1			(15,522	)		1			4

CAVU Securities Class		-			100,002			-			-

Net increase (decrease) in net assets resulting from share transactions		(151,278,669	)		(202,229,077	)		39,348,826			(100,155,041	)

Net increase (decrease) in net assets		(152,046,214	)		(202,723,173	)		39,351,915			(100,157,289	)


Net assets:
Beginning of period		2,362,888,735			2,565,611,908			223,020,346			323,177,635

End of period	$	2,210,842,521		$	2,362,888,735		$	262,372,261		$	223,020,346

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

31 Short-Term Investments Trust

Statements of Changes in Net Assets–(continued)

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Treasury Portfolio						Invesco Government & Agency Portfolio
	February 28,			August 31,			February 28,			August 31,
	2022			2021			2022			2021

Operations:
Net investment income	$	1,130,492		$	2,248,785		$	7,064,766		$	9,964,680

Net realized gain		337,662			30,818			26,979			542,485

Net increase in net assets resulting from operations		1,468,154			2,279,603			7,091,745			10,507,165


Distributions to shareholders from distributable earnings:
Institutional Class		(945,945	)		(2,005,555	)		(6,302,258	)		(9,402,663	)

Private Investment Class		(14,688	)		(35,458	)		(70,237	)		(120,583	)

Personal Investment Class		(16,136	)		(28,813	)		(1,412	)		(2,025	)

Cash Management Class		(24,596	)		(42,921	)		(116,654	)		(128,425	)

Reserve Class		(62,399	)		(62,101	)		(66,860	)		(105,814	)

Resource Class		(3,065	)		(18,705	)		(16,225	)		(32,727	)

Corporate Class		(13,608	)		(41,758	)		(111,510	)		(52,287	)

CAVU Securities Class		(50,055	)		(13,474	)		(379,610	)		(120,156	)

Total distributions from distributable earnings		(1,130,492	)		(2,248,785	)		(7,064,766	)		(9,964,680	)


Share transactions-net:
Institutional Class		1,148,575,944			(2,122,806,791	)		4,500,540,880			19,204,558,855

Private Investment Class		9,041,045			(118,976,592	)		56,459,453			(76,121,055	)

Personal Investment Class		114,699,804			(16,713,545	)		6,356,607			(4,169,839	)

Cash Management Class		24,738,287			80,255,547			208,470,000			316,471,282

Reserve Class		810,639,856			286,064,751			129,590,895			7,054,623

Resource Class		(14,916,921	)		(582,467,587	)		16,126,918			(25,248,184	)

Corporate Class		13,096,491			(867,085,822	)		(63,819,670	)		1,050,827,823

CAVU Securities Class		(35,495,020	)		547,040,941			2,464,408,750			1,441,849,681

Net increase (decrease) in net assets resulting from share transactions		2,070,379,486			(2,794,689,098	)		7,318,133,833			21,915,223,186

Net increase (decrease) in net assets		2,070,717,148			(2,794,658,280	)		7,318,160,812			21,915,765,671


Net assets:
Beginning of period		19,848,831,125			22,643,489,405			53,777,842,859			31,862,077,188

End of period	$	21,919,548,273		$	19,848,831,125		$	61,096,003,671		$	53,777,842,859

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

32 Short-Term Investments Trust

Statements of Changes in Net Assets–(continued)

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Treasury Obligations Portfolio						Invesco Tax-Free Cash Reserve Portfolio
	February 28,			August 31,			February 28,			August 31,
	2022			2021			2022			2021

Operations:
Net investment income	$	54,469		$	133,186		$	7,984		$	17,194

Net realized gain (loss)		(17,701	)		47,304			-			-

Net increase in net assets resulting from operations		36,768			180,490			7,984			17,194


Distributions to shareholders from distributable earnings:
Institutional Class		(49,822	)		(123,225	)		(6,227	)		(12,978	)

Private Investment Class		(735	)		(1,559	)		(554	)		(1,039	)

Personal Investment Class		(342	)		(128	)		(58	)		(195	)

Cash Management Class		(9	)		(29	)		(226	)		(490	)

Reserve Class		(3,367	)		(7,454	)		(841	)		(2,280	)

Resource Class		(6	)		(17	)		(76	)		(208	)

Corporate Class		(188	)		(774	)		(2	)		(4	)

Total distributions from distributable earnings		(54,469	)		(133,186	)		(7,984	)		(17,194	)


Share transactions-net:
Institutional Class		35,131,360			(306,942,642	)		17,389,193			(32,730,801	)

Private Investment Class		(941,007	)		220,502			2,145,705			(580,210	)

Personal Investment Class		6,265,217			3,070,903			(343,131	)		(1,906,614	)

Cash Management Class		(174,584	)		(87,640	)		(394,386	)		(893,331	)

Reserve Class		16,504,842			19,907,010			(795,898	)		(10,596,705	)

Resource Class		5			(51,953	)		70			(1,527,247	)

Corporate Class		(1,699,796	)		(5,409,097	)		-			-

Net increase (decrease) in net assets resulting from share transactions		55,086,037			(289,292,917	)		18,001,553			(48,234,908	)

Net increase (decrease) in net assets		55,068,336			(289,245,613	)		18,001,553			(48,234,908	)


Net assets:
Beginning of period		1,161,648,191			1,450,893,804			151,808,219			200,043,127

End of period	$	1,216,716,527		$	1,161,648,191		$	169,809,772		$	151,808,219

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

33 Short-Term Investments Trust

Financial Highlights

(Unaudited)

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

Institutional Class


																											Ratio of			Ratio of
					Net gains																						expenses			expenses
					(losses)																						to average			to average net			Ratio of net
	Net asset				on securities						Dividends			Distributions													net assets			assets without			investment
	value,		Net		(both			Total from			from net			from net						Net asset					Net assets,		with fee waivers			fee waivers			income
	beginning		investment		realized and			investment			investment			realized			Total			value, end		Total			end of period		and/or expense			and/or expense			to average
	of period		income^(a)		unrealized)			operations			income			gains			distributions			of period		return^(b)			(000’s omitted)		absorbed			absorbed			net assets
Invesco Liquid Assets Portfolio
Six months ended 02/28/22	$	1.0004	$	0.0001	$	(0.0004	)	$	(0.0003	)	$	(0.0001	)	$	-		$	(0.0001	)	$	1.0000		(0.03	)%	$	2,204,979		0.17	%^(c)		0.22	%^(c)		0.01	%^(c)
Year ended 08/31/21		1.0006		0.0004		(0.0002	)		0.0002			(0.0004	)		-			(0.0004	)		1.0004		0.02			2,356,363		0.17			0.22			0.05
Year ended 08/31/20		1.0004		0.0126		(0.0006	)		0.0120			(0.0118	)		-			(0.0118	)		1.0006		1.20			2,558,430		0.18			0.22			1.26
Year ended 08/31/19		1.0004		0.0237		0.0000			0.0237			(0.0237	)		-			(0.0237	)		1.0004		2.39			2,444,253		0.18			0.22			2.37
Year ended 08/31/18		1.0002		0.0173		(0.0011	)		0.0162			(0.0160	)		-			(0.0160	)		1.0004		1.63			2,343,453		0.18			0.23			1.73
Year ended 08/31/17		1.00		0.0051		0.0036			0.0087			(0.0080	)		(0.0005	)		(0.0085	)		1.0002		0.84			296,174		0.18			0.26			0.51
Invesco STIC Prime Portfolio
Six months ended 02/28/22		1.0000		0.0001		0.0000			0.0001			(0.0001	)		-			(0.0001	)		1.0000		0.01			261,269		0.12	^(c)		0.30	^(c)		0.01	^(c)
Year ended 08/31/21		1.0000		0.0001		(0.0000	)		0.0001			(0.0001	)		-			(0.0001	)		1.0000		0.01			221,718		0.13			0.30			0.01
Year ended 08/31/20		1.0001		0.0116		(0.0012	)		0.0104			(0.0105	)		-			(0.0105	)		1.0000		1.05			320,753		0.18			0.26			1.16
Year ended 08/31/19		1.0001		0.0226		0.0001			0.0227			(0.0227	)		-			(0.0227	)		1.0001		2.29			652,151		0.18			0.25			2.26
Year ended 08/31/18		1.0000		0.0155		(0.0002	)		0.0153			(0.0152	)		-			(0.0152	)		1.0001		1.54			524,792		0.18			0.27			1.55
Year ended 08/31/17		1.00		0.0062		0.0007			0.0069			(0.0069	)		-			(0.0069	)		1.0000		0.70			423,931		0.18			0.27			0.62
Invesco Treasury Portfolio
Six months ended 02/28/22		1.00		0.00		0.00			0.00			(0.00	)		-			(0.00	)		1.00		0.01			18,241,859		0.07	^(c)		0.21	^(c)		0.01	^(c)
Year ended 08/31/21		1.00		0.00		0.00			0.00			(0.00	)		-			(0.00	)		1.00		0.01			17,093,039		0.10			0.21			0.01
Year ended 08/31/20		1.00		0.01		0.00			0.01			(0.01	)		(0.00	)		(0.01	)		1.00		0.91			19,215,805		0.18			0.21			0.86
Year ended 08/31/19		1.00		0.02		0.00			0.02			(0.02	)		-			(0.02	)		1.00		2.20			18,717,318		0.18			0.21			2.18
Year ended 08/31/18		1.00		0.01		0.00			0.01			(0.01	)		-			(0.01	)		1.00		1.37			20,231,906		0.18			0.20			1.37
Year ended 08/31/17		1.00		0.01		0.00			0.01			(0.01	)		-			(0.01	)		1.00		0.52			22,803,973		0.18			0.20			0.52
Invesco Government & Agency Portfolio
Six months ended 02/28/22		1.00		0.00		0.00			0.00			(0.00	)		-			(0.00	)		1.00		0.01			53,964,770		0.06	^(c)		0.16	^(c)		0.02	^(c)
Year ended 08/31/21		1.00		0.00		0.00			0.00			(0.00	)		-			(0.00	)		1.00		0.03			49,464,205		0.07			0.16			0.03
Year ended 08/31/20		1.00		0.01		(0.00	)		0.01			(0.01	)		(0.00	)		(0.01	)		1.00		0.95			30,259,136		0.15			0.15			0.85
Year ended 08/31/19		1.00		0.02		0.00			0.02			(0.02	)		-			(0.02	)		1.00		2.22			30,003,319		0.16			0.16			2.20
Year ended 08/31/18		1.00		0.01		0.00			0.01			(0.01	)		-			(0.01	)		1.00		1.38			22,329,969		0.15			0.15			1.35
Year ended 08/31/17		1.00		0.01		(0.00	)		0.01			(0.01	)		-			(0.01	)		1.00		0.56			27,691,416		0.15			0.15			0.58
Invesco Treasury Obligations Portfolio
Six months ended 02/28/22		1.00		0.00		(0.00	)		0.00			(0.00	)		-			(0.00	)		1.00		0.01			1,098,427		0.08	^(c)		0.22	^(c)		0.01	^(c)
Year ended 08/31/21		1.00		0.00		0.00			0.00			(0.00	)		-			(0.00	)		1.00		0.01			1,063,312		0.10			0.21			0.01
Year ended 08/31/20		1.00		0.01		(0.00	)		0.01			(0.01	)		-			(0.01	)		1.00		0.94			1,370,210		0.18			0.20			0.84
Year ended 08/31/19		1.00		0.02		0.00			0.02			(0.02	)		-			(0.02	)		1.00		2.18			1,045,046		0.18			0.21			2.15
Year ended 08/31/18		1.00		0.01		0.00			0.01			(0.01	)		-			(0.01	)		1.00		1.35			1,280,336		0.18			0.21			1.34
Year ended 08/31/17		1.00		0.00		(0.00	)		0.00			(0.00	)		-			(0.00	)		1.00		0.44			1,306,370		0.18			0.22			0.48
Invesco Tax-Free Cash Reserve Portfolio
Six months ended 02/28/22		1.00		0.00		-			0.00			(0.00	)		-			(0.00	)		1.00		0.01			135,657		0.07	^(c)		0.40	^(c)		0.01	^(c)
Year ended 08/31/21		1.00		0.00		-			0.00			(0.00	)		-			(0.00	)		1.00		0.01			118,267		0.07			0.40			0.01
Year ended 08/31/20		1.00		0.01		-			0.01			(0.01	)		-			(0.01	)		1.00		0.76			150,997		0.19			0.34			0.76
Year ended 08/31/19		1.00		0.01		-			0.01			(0.01	)		-			(0.01	)		1.00		1.39			161,039		0.20			0.35			1.38
Year ended 08/31/18		1.00		0.01		(0.00	)		0.01			(0.01	)		-			(0.01	)		1.00		1.01			127,662		0.20			0.38			1.01
Year ended 08/31/17		1.00		0.01		(0.00	)		0.01			(0.01	)		-			(0.01	)		1.00		0.56			110,817		0.20			0.37			0.56

^(a)	Calculated using average shares outstanding.

^(b)	Includes adjustments in accordance with accounting principles generally accepted in the United States of America and is not annualized for periods less than one year.

^(c)	Annualized.

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

34 Short-Term Investments Trust

Notes to Financial Statements

February 28, 2022

(Unaudited)

NOTE 1–Significant Accounting Policies

Short-Term Investments Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end series diversified management investment company. The Trust is organized as a Delaware statutory trust which currently offers six separate portfolios (each constituting a “Fund”). The Funds covered in this report are Invesco Liquid Assets Portfolio, Invesco STIC Prime Portfolio, Invesco Treasury Portfolio, Invesco Government & Agency Portfolio, Invesco Treasury Obligations Portfolio and Invesco Tax-Free Cash Reserve Portfolio (collectively, the “Funds”). The assets, liabilities and operations of each Fund are accounted for separately. Information presented in these financial statements pertains only to the Funds. Matters affecting each Fund or class will be voted on exclusively by the shareholders of such Fund or class.

The investment objectives of the Funds are: to provide current income consistent with preservation of capital and liquidity for Invesco Liquid Assets Portfolio, Invesco STIC Prime Portfolio, Invesco Treasury Portfolio, Invesco Government & Agency Portfolio and Invesco Treasury Obligations Portfolio; and to provide tax-exempt income consistent with preservation of capital and liquidity for Invesco Tax-Free Cash Reserve Portfolio.

Invesco Liquid Assets Portfolio, Invesco Treasury Portfolio and Invesco Government & Agency Portfolio currently offer eight different classes of shares: Institutional Class, Private Investment Class, Personal Investment Class, Cash Management Class, Reserve Class, Resource Class, Corporate Class and CAVU Securities Class. Invesco STIC Prime Portfolio, Invesco Treasury Obligations Portfolio and Invesco Tax-Free Cash Reserve Portfolio currently offer seven different classes of shares: Institutional Class, Private Investment Class, Personal Investment Class, Cash Management Class, Reserve Class, Resource Class and Corporate Class.

Each 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.

Invesco Liquid Assets Portfolio and Invesco STIC Prime Portfolio, both institutional money market funds, price and transact in their shares at a floating net asset value (“NAV”) reflecting the current market-based values of their portfolio securities, except as otherwise generally permitted for securities with remaining maturities of 60 days or less, which are valued at amortized cost. Rules and regulations also require Invesco Liquid Assets Portfolio and Invesco STIC Prime Portfolio to round their NAVs to four decimal places (e.g., $1.0000).

Invesco Liquid Assets Portfolio determines its NAV per share multiple times each day.

Invesco Treasury Portfolio, Invesco Government & Agency Portfolio and Invesco Treasury Obligations Portfolio, each a “government money market fund” as defined in Rule 2a-7 under the 1940 Act, and Invesco Tax-Free Cash Reserve Portfolio, a “retail money market fund” as defined in Rule 2a-7 under the 1940 Act, seek to maintain a stable or constant NAV of $1.00 per share using an amortized cost method of valuation.

“Government money market funds” are required to invest at least 99.5% of their total assets in cash, Government Securities (as defined in the 1940 Act), and/or repurchase agreements collateralized fully by cash or Government Securities. “Retail money market funds” are required to adopt policies and procedures reasonably designed to limit investments in the Fund to accounts beneficially owned by natural persons.

Invesco Liquid Assets Portfolio, Invesco STIC Prime Portfolio and Invesco Tax-Free Cash Reserve Portfolio may impose a fee upon the sale of shares or may temporarily suspend the ability to sell shares if the Fund’s liquidity falls below required minimums or because of market conditions or other factors. The Board of Trustees has elected not to subject Invesco Treasury Portfolio, Invesco Government & Agency Portfolio and Invesco Treasury Obligations Portfolio to liquidity fee and redemption gate requirements at this time, as permitted by Rule 2a-7.

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

Security Valuations - Invesco Liquid Assets Portfolio’s and Invesco STIC Prime Portfolio’s securities are fair valued using an evaluated quote provided by an independent pricing service approved by the Board of Trustees. Evaluated quotes 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, market information from brokers and dealers, developments related to specific securities, 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. 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.

Securities for which market quotations are not readily available or became unreliable are valued at fair value as determined in good faith by or under the supervision of the Trust’s officers following procedures approved by the Board of Trustees. Issuer specific events, market trends, bid/asked 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.

Invesco Treasury Portfolio, Invesco Government & Agency Portfolio, Invesco Treasury Obligations Portfolio and Invesco Tax-Free Cash Reserve Portfolio’s securities are recorded on the basis of amortized cost which approximates value as permitted by Rule 2a-7 under the 1940 Act. This method values a security at its cost on the date of purchase and, thereafter, assumes a constant amortization to maturity of any premiums or accretion of any discounts.

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.

Each 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 of each Fund’s investments.

B.	Securities Transactions and Investment Income - Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is

35 Short-Term Investments Trust

recorded on the accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.

The Funds may periodically participate in litigation related to each Fund’s investments. As such, the Funds may receive proceeds from litigation settlements involving each Fund’s investments. Any proceeds received are included in the Statements 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 gain (loss) from investment securities reported in the Statements of Operations and the Statements of Changes in Net Assets and the net realized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of each Fund’s net asset value and, accordingly, they reduce each Fund’s total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statements of Operations and the Statements 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 Funds and the investment adviser.

The Funds allocate realized capital gains and losses to a class based on the relative net assets of each class. The Funds allocate income to a class based on the relative value of the settled shares of each class.

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 and the country that has the primary market for the issuer’s securities, 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 - It is the policy of the Funds to declare dividends from net investment income daily and pay dividends on the first business day of the following month. Each Fund generally distributes net realized capital gain (including net short-term capital gain), if any, annually.

Federal Income Taxes - The Funds intend 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 Funds’ taxable earnings to shareholders. As such, the Funds 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 Funds recognize the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed each 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.

In addition, Invesco Tax-Free Cash Reserve Portfolio intends to invest in such municipal securities to allow it to qualify to pay shareholders “exempt interest dividends”, as defined in the Internal Revenue Code.

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

Expenses - Fees provided for under the Rule 12b-1 plan of a particular class of each Fund and which are directly attributable to that class are charged to the operations of such class. All other expenses of each respective Fund are allocated among the classes of such Fund based on relative net assets.

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

Repurchase Agreements - The Funds may enter into repurchase agreements. Collateral on repurchase agreements, including each Fund’s pro-rata interest in joint repurchase agreements, is taken into possession by such Funds upon entering into the repurchase agreement. Collateral consisting of U.S. Government Securities and U.S. Government Sponsored Agency Securities is marked to market daily to ensure its market value is at least 102% of the sales price of the repurchase agreement. Collateral consisting of non-government securities is marked to market daily to ensure its market value is at least 105% of the sales price of the repurchase agreement. The investments in some repurchase agreements, pursuant to procedures approved by the Board of Trustees, are through participation with other mutual funds, private accounts and certain non-registered investment companies managed by the investment advisor or its affiliates (“Joint repurchase agreements”). The principal amount of the repurchase agreement is equal to the value at period-end. If the seller of a repurchase agreement fails to repurchase the security in accordance with the terms of the agreement, the Funds might incur expenses in enforcing their rights, and could experience losses, including a decline in the value of the collateral and loss of income.

Other Risks - Investments in obligations issued by agencies and instrumentalities of the U.S. Government may vary in the level of support they receive from the government. The government may choose not to provide financial support to government sponsored agencies or instrumentalities if it is not legally obligated to do so. In this case, if the issuer defaulted, the Funds may not be able to recover its investment in such issuer from the U.S. Government. Additionally, from time to time, uncertainty regarding the status of negotiations in the U.S. Government to increase the statutory debt limit, commonly called the “debt ceiling”, could increase the risk that the U.S. Government may default on payments

36 Short-Term Investments Trust

on certain U.S. Government securities, cause the credit rating of the U.S. Government to be downgraded, increase volatility in the stock and bond markets, result in higher interest rates, reduce prices of U.S. Treasury securities, and/or increase the costs of various kinds of debt. If a U.S. Government-sponsored entity is negatively impacted by legislative or regulatory action, is unable to meet its obligations, or its creditworthiness declines, the performance of each Fund that holds securities of that entity will be adversely impacted.

The effect on performance from investing in securities issued or guaranteed by companies in the banking and financial services industries will depend to a greater extent on the overall condition of those industries. Financial services companies are highly dependent on the supply of short-term financing. The value of securities of issuers in the banking and financial services industry can be sensitive to changes in government regulation and interest rates and to economic downturns in the United States and abroad.

The value of, payment of interest on, repayment of principal for and the ability to sell a municipal security may be affected by constitutional amendments, legislative enactments, executive orders, administrative regulations, voter initiatives and the economics of the regions in which the issuers are located.

Since many municipal securities are issued to finance similar projects, especially those relating to education, health care, transportation and utilities, conditions in those sectors can affect the overall municipal securities market and each Fund’s investments in municipal securities.

There is some risk that a portion or all of the interest received from certain tax-free municipal securities could become taxable as a result of determinations by the Internal Revenue Service.

U.S. dollar-denominated securities carrying foreign credit exposure may be affected by unfavorable political, economic or governmental developments that could affect payments of principal and interest.

COVID-19 Risk - The COVID-19 strain of coronavirus has resulted in instances of market closures and dislocations, extreme volatility, liquidity constraints and increased trading costs. Efforts to contain its spread have resulted in travel restrictions, disruptions of healthcare systems, business operations (including business closures) and supply chains, layoffs, lower consumer demand and employee availability, and defaults and credit downgrades, among other significant economic impacts that have disrupted global economic activity across many industries. Such economic impacts may exacerbate other pre-existing political, social and economic risks locally or globally and cause general concern and uncertainty.

The full economic impact and ongoing effects of COVID-19 (or other future epidemics or pandemics) at the macro-level and on individual businesses are unpredictable and may result in significant and prolonged effects on the Funds’ performance.

NOTE 2–Advisory Fees and Other Fees Paid to Affiliates

The Trust has entered into a master investment advisory agreement with Invesco Advisers, Inc. (the “Adviser” or “Invesco”). Under the terms of the investment advisory agreement, each Fund accrues daily and pays monthly an advisory fee to the Adviser at an annual rate based on each Funds’ average daily net assets as follows, respectively:


	First $250 million	Next $250 million	Over $500 million
Invesco Liquid Assets Portfolio	0.15%	0.15%	0.15%
Invesco STIC Prime Portfolio	0.15%	0.15%	0.15%
Invesco Treasury Portfolio	0.15%	0.15%	0.15%
Invesco Government & Agency Portfolio	0.10%	0.10%	0.10%
Invesco Treasury Obligations Portfolio	0.20%	0.15%	0.10%
Invesco Tax-Free Cash Reserve Portfolio	0.20%	0.20%	0.20%

For the six months ended February 28, 2022, the management fee incurred for each Fund was equivalent to the annual effective rate of each Fund’s average daily net assets, as shown below:


Invesco Liquid Assets Portfolio			0.15%
Invesco STIC Prime Portfolio			0.15%
Invesco Treasury Portfolio			0.15%
Invesco Government & Agency Portfolio			0.10%
Invesco Treasury Obligations Portfolio			0.14%
Invesco Tax-Free Cash Reserve Portfolio			0.20%

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. and, for Invesco Government & Agency Portfolio, Invesco Treasury Obligations Portfolio and Invesco Tax-Free Cash Reserve Portfolio, separate sub-advisory agreements with Invesco Capital Management LLC and Invesco Asset Management (India) Private Limited (collectively, the “Affiliated Sub-Advisers”) the Adviser, not the Funds, 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 each Fund based on the percentage of assets allocated to such Sub-Adviser(s).

37 Short-Term Investments Trust

Institutional Class, Private Investment Class, Personal Investment Class, Cash Management Class, Reserve Class, Resource Class, Corporate Class and CAVU Securities Class shares for each Fund as shown in the following table (the “expense limits”):


	Institutional Class	Private Investment Class	Personal Investment Class	Cash Management Class	Reserve Class	Resource Class	Corporate Class	CAVU Securities Class
Invesco Liquid Assets Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.38%	0.21%	0.18%
Invesco STIC Prime Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.34%	0.21%	-
Invesco Treasury Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.34%	0.21%	0.18%
Invesco Government & Agency Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.34%	0.21%	0.18%
Invesco Treasury Obligations Portfolio	0.18%	0.43%	0.73%	0.26%	1.05%	0.34%	0.21%	-
Invesco Tax-Free Cash Reserve Portfolio	0.20%	0.45%	0.75%	0.28%	1.07%	0.36%	0.23%	-

The expense limits shown are the expense limits after Rule 12b-1 fee waivers by Invesco Distributors, Inc. (“IDI”). The expense limits for Tax-Free Cash Reserve Portfolio also exclude Trustees’ fees and federal registration expenses.

In determining the Adviser’s obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the total annual operating expenses after fee waiver and/or expense reimbursement to exceed the number reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses, and (5) expenses that the Funds have incurred but did not actually pay because of an expense offset arrangement. Unless Invesco continues the fee waiver arrangement, it will terminate on December 31, 2022. During its term, the fee waiver agreement cannot be terminated or amended to increase the expense limits or reduce the advisory fee waiver without approval of the Board of Trustees.

For the six months ended February 28, 2022, the Adviser waived advisory fees and/or reimbursed Fund expenses, as shown below:


	Expense Limitation
Invesco Liquid Assets Portfolio	$	442,476
Invesco STIC Prime Portfolio		151,463
Invesco Treasury Portfolio		3,703,090
Invesco Government & Agency Portfolio		-
Invesco Treasury Obligations Portfolio		216,359
Invesco Tax-Free Cash Reserve Portfolio		156,166

Further, Invesco and/or IDI voluntarily waived fees and/or reimbursed expenses in order to increase the yields of each Fund. Voluntary fee waivers and/or reimbursements may be modified or discontinued at any time upon consultation with the Board of Trustees without further notice to investors.

Voluntary fee waivers for the six months ended February 28, 2022 are shown below:


	Fund Level		Private Investment Class		Personal Investment Class		Cash Management Class		Reserve Class		Resource Class		Corporate Class
Invesco Liquid Assets Portfolio		$ 98,537		$ 4,270		$ 27		$ 1,014		$ 923		$ 290		$ 3
Invesco STIC Prime Portfolio		82,159		832		253		195		375		-		4
Invesco Treasury Portfolio		11,644,572		431,096		868,352		192,510		5,311,944		47,971		39,942
Invesco Government & Agency Portfolio		27,703,436		812,520		29,939		359,090		2,243,978		100,018		127,960
Invesco Treasury Obligations Portfolio		536,300		17,924		18,350		60		286,375		78		544
Invesco Tax-Free Cash Reserve Portfolio		99,306		13,526		3,039		1,765		71,520		1,171		2

The Trust has entered into a master administrative services agreement with Invesco pursuant to which each Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to such Fund. For the six months ended February 28, 2022, expenses incurred under the agreement are shown in the Statements of Operations as Administrative services fees. Also, Invesco has entered into a sub-administration agreement whereby The Bank of New York Mellon (“BNY Mellon”) serves as fund accountant and provides certain administrative services to the Funds. Pursuant to a custody agreement with the Trust on behalf of the Funds, BNY Mellon also serves as the Fund’s custodian.

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. (“IIS”) pursuant to which each Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to such Fund. For the six months ended February 28, 2022, expenses incurred under the agreement are shown in the Statements of Operations as Transfer agent fees.

Under the terms of a master distribution agreement between IDI and the Trust, IDI acts as the exclusive distributor of each Fund’s shares. The Trust has adopted a master distribution plan pursuant to Rule 12b-1 under the 1940 Act with respect to Private Investment Class, Personal Investment

38 Short-Term Investments Trust

Class, Cash Management Class, Reserve Class, Resource Class and Corporate Class (the “Plan”). Each Fund, pursuant to the Plans, pays IDI compensation up to the maximum annual rate shown below of average daily net assets of such Class of each Fund, respectively.


	Private Investment Class	Personal Investment Class	Cash Management Class	Reserve Class	Resource Class	Corporate Class
Invesco Liquid Assets Portfolio	0.30%	0.55%	0.08%	0.87%	0.20%	0.03%
Invesco STIC Prime Portfolio	0.30%	0.55%	0.08%	0.87%	0.16%	0.03%
Invesco Treasury Portfolio	0.30%	0.55%	0.08%	0.87%	0.16%	0.03%
Invesco Government & Agency Portfolio	0.30%	0.55%	0.08%	0.87%	0.16%	0.03%
Invesco Treasury Obligations Portfolio	0.25%	0.55%	0.08%	0.87%	0.16%	0.03%
Invesco Tax-Free Cash Reserve Portfolio	0.25%	0.55%	0.08%	0.87%	0.16%	0.03%

The fees are accrued daily and paid monthly. Of the Plan payments, up to 0.25% of the average daily net assets of each class of each Fund may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such class. Any amounts not paid as a service fee under such Plan would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority (“FINRA”), impose a cap on the total amount of sales charges, including asset-based sales charges, that may be paid by any class of shares of each Fund.

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

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 or are unreliable. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment’s assigned level:


Level 1 –		Prices are determined using quoted prices in an active market for identical assets.
Level 2 –		Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.
Level 3 –		Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect each Fund’s own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

As of February 28, 2022, all of the securities in each Fund were valued based on Level 2 inputs (see the Schedule of Investments for security categories). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

NOTE 4–Security Transactions with Affiliated Funds

Each Fund is permitted to purchase or sell securities from or to certain other Invesco Funds under specified conditions outlined in procedures adopted by the Board of Trustees of the Trust. The procedures have been designed to ensure that any purchase or sale of securities by each Fund from or to another fund or portfolio that is or could be considered an affiliate by virtue of having a common investment adviser (or affiliated investment advisers), common Trustees and/or common officers complies with Rule 17a-7 of the 1940 Act. Further, as defined under the procedures, each transaction is effected at the current market price. For the six months ended February 28, 2022, each Fund engaged in transactions with affiliates as listed below:


	Securities Purchases			Securities Sales			Net Realized Gains
Invesco Liquid Assets Portfolio		$	22,055,624		$	16,400,013		$	-
Invesco STIC Prime Portfolio			8,610,216			8,200,189			-
Invesco Tax-Free Cash Reserve Portfolio			91,949,282			79,264,665			-

NOTE 5–Trustees’ and Officers’ Fees and Benefits

Trustees’ and Officers’ Fees and Benefits include amounts accrued by each Fund to pay remuneration to certain Trustees and Officers of such Fund. Trustees have the option to defer compensation payable by the Funds, and Trustees’ and Officers’ Fees and Benefits also include amounts accrued by each Fund to fund such deferred compensation amounts. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested. Finally, certain current Trustees were eligible to participate in a retirement plan that provided for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Funds may have certain former Trustees who also participate in a retirement plan and receive benefits under such plan. Trustees’ and Officers’ Fees and Benefits include amounts accrued by each Fund to fund such retirement benefits. Obligations under the deferred compensation and retirement plans represent unsecured claims against the general assets of the Funds.

39 Short-Term Investments Trust

NOTE 6–Cash Balances

The Funds are permitted to temporarily overdraft or leave balances in their accounts with BNY Mellon, the custodian bank. Such balances, if any at period-end, are shown in the Statements of Assets and Liabilities under the payable caption Amount due custodian. To compensate BNY Mellon or the Funds for such activity, the Funds may either (1) pay to or receive from BNY Mellon compensation at a rate agreed upon by BNY Mellon and Invesco, not to exceed the contractually agreed upon rate; or (2) leave funds or overdraft funds as a compensating balance in the account so BNY Mellon or the Funds can be compensated for use of funds.

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 each 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 each 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 Funds to utilize. The ability to utilize capital loss carryforwards in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Funds had a capital loss carryforward as of August 31, 2021, as follows:


Fund	Not Subject to Expiration			Total*
Invesco Liquid Assets Portfolio		$	13,010		$	13,010
Invesco Treasury Obligations Portfolio			13,241			13,241
Invesco Tax-Free Cash Reserve Portfolio			19,092			19,092

*	Capital loss carryforwards are 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 cost and the net unrealized appreciation (depreciation) of investments for tax purposes are as follows:


	At February 28, 2022

	Federal Tax Cost*		Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)

Invesco Liquid Assets Portfolio		$ 2,241,779,487		$23,265		$(631,849	)		$(608,584	)

Invesco STIC Prime Portfolio		276,300,889		2,906		(69	)		2,837

Invesco Treasury Portfolio		22,808,970,667		-		(32,012	)		(32,012	)

Invesco Government & Agency Portfolio		63,945,609,329		-		(1,167	)		(1,167	)

Invesco Treasury Obligations Portfolio		1,385,630,403		-		(22,651	)		(22,651	)

For Invesco Treasury Portfolio, Invesco Government & Agency Portfolio and Invesco Treasury Obligations Portfolio, cost of investments on a tax basis includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end. For Invesco Liquid Assets Portfolio, Invesco STIC Prime Portfolio and Invesco Tax-Free Cash Reserve Portfolio, cost of investments are the same for tax and financial reporting purposes.

NOTE 9–Share Information

Invesco Liquid Assets Portfolio


	Summary of Share Activity
	Six months ended February 28, 2022^(a)				Year ended August 31, 2021
	Shares		Amount		Shares		Amount
Sold:

Institutional Class		7,928,057,646	$	7,929,890,259		17,486,805,323	$17,494,025,296
Private Investment Class		1		1		371,715	371,900
Cash Management Class		-		-		6,058	6,061
Reserve Class		7,065		7,068		79,579	79,611
Corporate Class		-		-		1,001	1,001
CAVU Securities Class^(b)		-		-		99,962	100,002

40 Short-Term Investments Trust

NOTE 9–Share Information–(continued)


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount


Issued as reinvestment of dividends:

Institutional Class		3,067		$	3,067			182,613		$	182,698

Private Investment Class		92			92			207			207

Cash Management Class		133			133			359			359

Reserve Class		11			11			28			28

Resource Class		15			15			37			37

Corporate Class		2			2			13			13


Reacquired:

Institutional Class		(8,078,548,249	)		(8,080,512,126	)		(17,688,475,913	)		(17,695,782,305	)

Private Investment Class		(5,228	)		(5,230	)		(1,020,552	)		(1,021,000	)

Cash Management Class		(535,874	)		(536,034	)		(30,840	)		(30,854	)

Reserve Class		(11,095	)		(11,098	)		(142,165	)		(142,221	)

Resource Class		(114,793	)		(114,828	)		(3,373	)		(3,374	)

Corporate Class		(1	)		(1	)		(16,529	)		(16,536	)

Net increase (decrease) in share activity		(151,147,208	)	$	(151,278,669	)		(202,142,477	)	$	(202,229,077	)

^(a)	59% of the outstanding shares of the Fund are owned by the Adviser or an affiliate of the Adviser.

^(b)	Commencement date of December 18, 2020.

41 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco STIC Prime Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:

Institutional Class		705,814,165		$	705,814,165			1,439,605,312		$	1,439,605,312

Private Investment Class		9,001			9,001			17,500			17,500

Personal Investment Class		23			23			-			-

Cash Management Class		-			-			7,472			7,472

Reserve Class		1			1			4			4

Corporate Class		-			-			1,000			1,000


Issued as reinvestment of dividends:

Institutional Class		6,536			6,536			14,063			14,063

Private Investment Class		29			29			91			91

Personal Investment Class		4			4			27			27

Cash Management Class		7			7			15			15

Reserve Class		4			4			7			7

Resource Class		-			-			7			7

Corporate Class		1			1			4			4


Reacquired:

Institutional Class		(666,272,457	)		(666,272,457	)		(1,538,652,493	)		(1,538,652,493	)

Private Investment Class		(140,693	)		(140,693	)		(688,627	)		(688,627	)

Personal Investment Class		(23	)		(23	)		(302,518	)		(302,518	)

Cash Management Class		(67,771	)		(67,771	)		(15,280	)		(15,280	)

Reserve Class		(1	)		(1	)		(18,413	)		(18,413	)

Resource Class		-			-			(122,212	)		(122,212	)

Corporate Class		-			-			(1,000	)		(1,000	)

Net increase (decrease) in share activity		39,348,826		$	39,348,826			(100,155,041	)	$	(100,155,041	)

^(a)

There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 94% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

42 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Treasury Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:

Institutional Class		63,116,124,261		$	63,116,124,261			209,389,908,080		$	209,389,908,080

Private Investment Class		436,581,760			436,581,760			564,708,648			564,708,648

Personal Investment Class		1,082,049,227			1,082,049,227			1,460,181,973			1,460,181,973

Cash Management Class		868,464,400			868,464,400			834,202,437			834,202,437

Reserve Class		1,633,245,975			1,633,245,975			2,267,218,779			2,267,218,779

Resource Class		96,775,732			96,775,732			271,542,723			271,542,723

Corporate Class		1,534,950,883			1,534,950,883			4,259,846,179			4,259,846,179

CAVU Securities Class^(b)		6,259,349,230			6,259,349,230			1,619,862,326			1,619,862,326


Issued as reinvestment of dividends:

Institutional Class		232,641			232,641			497,496			497,496

Private Investment Class		5,404			5,404			11,961			11,961

Personal Investment Class		14,389			14,389			28,558			28,558

Cash Management Class		23,399			23,399			39,490			39,490

Reserve Class		55,622			55,622			56,643			56,643

Resource Class		3,065			3,065			4,380			4,380

Corporate Class		5,818			5,818			26,745			26,745

CAVU Securities Class		175			175			-			-


Reacquired:

Institutional Class		(61,967,780,958	)		(61,967,780,958	)		(211,513,212,367	)		(211,513,212,367	)

Private Investment Class		(427,546,119	)		(427,546,119	)		(683,697,201	)		(683,697,201	)

Personal Investment Class		(967,363,812	)		(967,363,812	)		(1,476,924,076	)		(1,476,924,076	)

Cash Management Class		(843,749,512	)		(843,749,512	)		(753,986,380	)		(753,986,380	)

Reserve Class		(822,661,741	)		(822,661,741	)		(1,981,210,671	)		(1,981,210,671	)

Resource Class		(111,695,718	)		(111,695,718	)		(854,014,690	)		(854,014,690	)

Corporate Class		(1,521,860,210	)		(1,521,860,210	)		(5,126,958,746	)		(5,126,958,746	)

CAVU Securities Class		(6,294,844,425	)		(6,294,844,425	)		(1,072,821,385	)		(1,072,821,385	)

Net increase (decrease) in share activity		2,070,379,486		$	2,070,379,486			(2,794,689,098	)	$	(2,794,689,098	)

^(a)

There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 26% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

^(b)	Commencement date of December 18, 2020.

43 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Government & Agency Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:

Institutional Class		162,483,965,647		$	162,483,965,647			287,998,117,369		$	287,998,117,369

Private Investment Class		739,731,866			739,731,866			1,566,476,737			1,566,476,737

Personal Investment Class		16,597,262			16,597,262			8,460,874			8,460,874

Cash Management Class		502,774,048			502,774,048			1,020,500,616			1,020,500,616

Reserve Class		1,286,100,892			1,286,100,892			1,184,114,517			1,184,114,517

Resource Class		575,440,585			575,440,585			1,448,949,173			1,448,949,173

Corporate Class		4,225,553,621			4,225,553,621			2,472,495,311			2,472,495,311

CAVU Securities Class^(b)		24,758,726,005			24,758,726,005			11,182,358,336			11,182,358,336


Issued as reinvestment of dividends:

Institutional Class		1,500,984			1,500,984			2,364,199			2,364,199

Private Investment Class		42,484			42,484			77,027			77,027

Personal Investment Class		1,075			1,075			1,664			1,664

Cash Management Class		42,314			42,314			62,947			62,947

Reserve Class		62,697			62,697			96,732			96,732

Resource Class		13,444			13,444			22,306			22,306

Corporate Class		99,960			99,960			20,996			20,996

CAVU Securities Class		231,219			231,219			68,987			68,987


Reacquired:

Institutional Class		(157,984,925,751	)		(157,984,925,751	)		(268,795,922,713	)		(268,795,922,713	)

Private Investment Class		(683,314,897	)		(683,314,897	)		(1,642,674,819	)		(1,642,674,819	)

Personal Investment Class		(10,241,730	)		(10,241,730	)		(12,632,377	)		(12,632,377	)

Cash Management Class		(294,346,362	)		(294,346,362	)		(704,092,281	)		(704,092,281	)

Reserve Class		(1,156,572,694	)		(1,156,572,694	)		(1,177,156,626	)		(1,177,156,626	)

Resource Class		(559,327,111	)		(559,327,111	)		(1,474,219,663	)		(1,474,219,663	)

Corporate Class		(4,289,473,251	)		(4,289,473,251	)		(1,421,688,484	)		(1,421,688,484	)

CAVU Securities Class		(22,294,548,474	)		(22,294,548,474	)		(9,740,577,642	)		(9,740,577,642	)

Net increase in share activity		7,318,133,833		$	7,318,133,833			21,915,223,186		$	21,915,223,186

^(a)

There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 41% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

^(b)	Commencement date of December 18, 2020.

44 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Treasury Obligations Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:

Institutional Class		775,170,129		$	775,170,129			1,758,486,047		$	1,758,486,047

Private Investment Class		714,387			714,387			8,037,650			8,037,650

Personal Investment Class		7,077,364			7,077,364			6,051,798			6,051,798

Reserve Class		114,819,967			114,819,967			332,356,357			332,356,357

Resource Class		5			5			52,034			52,034

Corporate Class		-			-			129			129


Issued as reinvestment of dividends:

Institutional Class		11,379			11,379			69,137			69,137

Private Investment Class		735			735			1,543			1,543

Personal Investment Class		280			280			102			102

Cash Management Class		8			8			27			27

Reserve Class		3,241			3,241			7,165			7,165

Resource Class		-			-			3			3

Corporate Class		188			188			774			774


Reacquired:

Institutional Class		(740,050,148	)		(740,050,148	)		(2,065,497,826	)		(2,065,497,826	)

Private Investment Class		(1,656,129	)		(1,656,129	)		(7,818,691	)		(7,818,691	)

Personal Investment Class		(812,427	)		(812,427	)		(2,980,997	)		(2,980,997	)

Cash Management Class		(174,592	)		(174,592	)		(87,667	)		(87,667	)

Reserve Class		(98,318,366	)		(98,318,366	)		(312,456,512	)		(312,456,512	)

Resource Class		-			-			(103,990	)		(103,990	)

Corporate Class		(1,699,984	)		(1,699,984	)		(5,410,000	)		(5,410,000	)

Net increase (decrease) in share activity		55,086,037		$	55,086,037			(289,292,917	)	$	(289,292,917	)

^(a)

There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 30% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

In addition, 55% of the outstanding shares of the Fund are owned by the Adviser or an affiliate of the Adviser.

45 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Tax-Free Cash Reserve Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:

Institutional Class		91,534,335		$	91,534,335			147,021,640		$	147,021,640

Private Investment Class		4,227,638			4,227,638			2,274,008			2,274,008

Personal Investment Class		2,540,401			2,540,401			7,107,975			7,107,975

Cash Management Class		2,600,250			2,600,250			6,420,817			6,420,817

Reserve Class		21,321,081			21,321,081			28,135,345			28,135,345

Resource Class		-			-			394,392			394,392


Issued as reinvestment of dividends:

Institutional Class		3,153			3,153			7,749			7,749

Private Investment Class		437			437			832			832

Personal Investment Class		57			57			195			195

Cash Management Class		82			82			230			230

Reserve Class		836			836			2,280			2,280

Resource Class		70			70			205			205


Reacquired:

Institutional Class		(74,148,295	)		(74,148,295	)		(179,760,190	)		(179,760,190	)

Private Investment Class		(2,082,370	)		(2,082,370	)		(2,855,050	)		(2,855,050	)

Personal Investment Class		(2,883,589	)		(2,883,589	)		(9,014,784	)		(9,014,784	)

Cash Management Class		(2,994,718	)		(2,994,718	)		(7,314,378	)		(7,314,378	)

Reserve Class		(22,117,815	)		(22,117,815	)		(38,734,330	)		(38,734,330	)

Resource Class		-			-			(1,921,844	)		(1,921,844	)

Net increase (decrease) in share activity		18,001,553		$	18,001,553			(48,234,908	)	$	(48,234,908	)

^(a)

There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 84% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

46 Short-Term Investments Trust

Calculating your ongoing Fund expenses

Example

As a shareholder in the Institutional Class, you incur ongoing costs, such as management fees and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period September 1, 2021 through February 28, 2022.

Actual expenses

The table below provides information about actual account values and actual expenses. You may use the information in this table, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the table under the heading entitled “Actual Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

Hypothetical example for comparison purposes

The table below also provides information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not each Fund’s actual return.

The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Funds and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only. Therefore, the hypothetical information is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds.


Institutional Class	Beginning Account Value (09/01/21)	ACTUAL		HYPOTHETICAL (5% annual return before expenses)
		Ending Account Value (02/28/22)¹	Expenses Paid During Period²	Ending Account Value (02/28/22)	Expenses Paid During Period²	Annualized Expense Ratio
Invesco Liquid Assets Portfolio	$1,000.00	$999.70	$0.84	$1,023.95	$0.85	0.17%
Invesco STIC Prime Portfolio	1,000.00	1,000.10	0.60	1,024.20	0.60	0.12
Invesco Treasury Portfolio	1,000.00	1,000.10	0.35	1,024.45	0.35	0.07
Invesco Government & Agency Portfolio	1,000.00	1,000.10	0.30	1,024.50	0.30	0.06
Invesco Treasury Obligations Portfolio	1,000.00	1,000.10	0.40	1,024.40	0.40	0.08
Invesco Tax-Free Cash Reserve Portfolio	1,000.00	1,000.10	0.35	1,024.45	0.35	0.07

The actual ending account value is based on the actual total return of the Funds for the period September 1, 2021 through February 28, 2022, after actual expenses and will differ from the hypothetical ending account value which is based on each Fund’s expense ratio and a hypothetical annual return of 5% before expenses.

²	Expenses are equal to each Fund’s annualized expense ratio as indicated above multiplied by the average account value over the period, multiplied by 181/365 to reflect the most recent fiscal half year.

47 Short-Term Investments Trust

Invesco mailing information

Send general correspondence to Invesco Investment Services, Inc., P.O. Box 219078, Kansas City, MO 64121-9078.

Important notice regarding delivery of security holder documents

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at 800 959 4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

Fund holdings and proxy voting information

The Fund provides a complete list of its portfolio holdings in various monthly and quarterly regulatory filings. The Fund files a complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) monthly on Form N-MFP. For the second and fourth quarters, the list appears, respectively, in the Fund’s semiannual and annual reports to shareholders. The most recent list of portfolio holdings is available at invesco.com/us. Qualified persons, including beneficial owners of the Fund’s shares and prospective investors, may obtain access to the website by calling the distributor at 800 659 1005 and selecting option 2. Shareholders can also look up the Fund’s Form N-MFP filings on the SEC website, sec.gov. The SEC file numbers for the Fund are 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 Cash Management Alliance Services department at 800 659 1005, option 1, 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. This information is also available on the SEC website, sec.gov.

Invesco Advisers, Inc. is an investment adviser; it provides investment advisory services to individual and institutional clients and does not sell securities. Invesco Distributors, Inc. is the US distributor for Invesco Ltd.’s retail mutual funds, exchange-traded funds and institutional money market funds. Both are wholly owned, indirect subsidiaries of Invesco Ltd.

LOGO


SEC file numbers: 811-02729 and 002-58287		Invesco Distributors, Inc.		CM-STIT-SAR-1

LOGO


Semiannual Report to Shareholders		February 28, 2022

Corporate Class

Short-Term Investments Trust (STIT)

Invesco Liquid Assets Portfolio

Invesco STIC Prime Portfolio

Invesco Treasury Portfolio

Invesco Government & Agency Portfolio

Invesco Treasury Obligations Portfolio

Invesco Tax-Free Cash Reserve Portfolio

Fund Data

3	Schedules of Investments

28	Financial Statements

34	Financial Highlights

35	Notes to Financial Statements

47	Fund Expenses

Unless otherwise stated, information presented in this report is as of February 28, 2022, and is based on total net assets. Unless otherwise stated, all data provided by Invesco.

NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE

Fund Data


Corporate Class data as of 2/28/22

FUND	WEIGHTED			WEIGHTED	TOTAL
	AVERAGE			AVERAGE	NET
	MATURITY			LIFE	ASSETS

	Range	At		At
	During	Reporting		Reporting
	Reporting	Period		Period
	Period	End		End
Invesco Liquid Assets¹	23 - 52 days		23 days	52 days	$23.1 thousand
Invesco STIC Prime¹	3 - 13 days		6 days	7 days	21.1 thousand
Invesco Treasury²	45 - 57 days		51 days	103 days	279.6 million
Invesco Government & Agency²	32 - 53 days		47 days	100 days	1.0 billion
Invesco Treasury Obligations²	31 - 55 days		38 days	83 days	3.3 million
Invesco Tax-Free Cash Reserve³	9 - 15 days		11 days	11 days	10.3 thousand
Weighted average maturity (WAM) is an average of the maturities of all securities held in the portfolio, weighted by each security’s percentage of net assets. The days to maturity for WAM is the lower of the stated maturity date or next interest rate reset date. WAM reflects how a portfolio would react to interest rate changes. Weighted average life (WAL) is an average of all the maturities of all securities held in the portfolio, weighted by each security’s percentage of net assets. The days to maturity for WAL is the lower of the stated maturity date or next demand feature date. WAL reflects how a portfolio would react to deteriorating credit (widening spreads) or tightening liquidity conditions.

2 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
Commercial Paper-36.48%^(a)

Asset-Backed Securities - Fully Supported-2.71%
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.17%		04/13/2022	$	10,000	$ 9,996,724
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.25%		05/06/2022		50,000	49,960,732
							59,957,456

Asset-Backed Securities - Fully Supported Bank-5.88%
Anglesea Funding LLC (Multi - CEP’s)^(b)(c)		0.13%		03/03/2022		10,000	9,999,921
Anglesea Funding PLC (Multi - CEP’s) (OBFR + 0.10%)^(b)(c)(d)		0.17%		05/20/2022		25,000	25,003,750
Bedford Row Funding Corp. (CEP - Royal Bank of Canada) (1 mo. FEDL + 0.12%)^(b)(c)(d)		0.20%		09/01/2022		20,000	19,998,483
Ebury Finance LLC (Multi - CEP’s), (SOFR + 0.15%)^(b)(c)(d)		0.20%		05/23/2022		50,000	50,000,583
Versailles Commercial Paper LLC (CEP - Natixis S.A.) (SOFR + 0.16%)^(b)(c)(d)		0.21%		08/02/2022		25,000	25,000,098
							130,002,835

Diversified Banks-21.08%
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(b)(c)(d)		0.25%		05/16/2022		30,000	30,000,937
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(b)(c)(d)		0.25%		05/20/2022		25,000	25,000,822
ANZ New Zealand (Int’l) Ltd.^(b)(c)		0.17%		04/04/2022		23,700	23,695,783
ANZ New Zealand (Int’l) Ltd.^(b)(c)		0.34%		10/03/2022		30,000	29,831,463
Barclays Bank PLC (SOFR + 0.16%)^(b)(c)(d)		0.21%		07/01/2022		60,000	60,003,023
Industrial & Commercial Bank of China Ltd.^(b)(c)		0.15%		03/15/2022		50,000	49,997,437
Kookmin Bank^(b)(c)		0.20%		03/17/2022		20,000	19,999,226
Mitsubishi UFJ Trust & Banking Corp.^(b)(c)		0.26%		04/13/2022		15,000	14,995,637
National Australia Bank Ltd. (SOFR + 0.17%)^(b)(c)(d)		0.22%		07/25/2022		50,000	50,003,019
NRW Bank^(b)(c)		0.00%		04/01/2022		30,000	29,986,667
Royal Bank of Canada^(b)(c)		0.20%		06/16/2022		15,000	14,974,125
Svenska Handelsbanken AB^(b)(c)		0.34%		11/03/2022		22,850	22,690,700
Toronto-Dominion Bank (The)^(b)(c)		0.21%		06/22/2022		25,000	24,952,262
Toronto-Dominion Bank (The) (1 mo. FEDL + 0.10%)^(b)(c)(d)		0.18%		07/08/2022		10,000	9,999,109
Toronto-Dominion Bank (The) (1 mo. FEDL + 0.10%)^(b)(c)(d)		0.18%		09/06/2022		10,000	9,997,669
United Overseas Bank Ltd.^(b)(c)		0.25%		06/09/2022		50,000	49,922,146
							466,050,025

Diversified Capital Markets-2.71%
UBS AG^(b)(c)		0.25%		08/18/2022		30,000	29,895,263
UBS AG (SOFR + 0.17%)^(b)(c)(d)		0.22%		09/21/2022		30,000	29,987,712
							59,882,975

Investment Banking & Brokerage-1.35%
Goldman Sachs International^(b)		0.45%		11/15/2022		30,000	29,768,383

Regional Banks-2.30%
ASB Finance Ltd.^(b)(c)		0.25%		03/18/2022		20,920	20,919,216
ASB Finance Ltd.^(b)(c)		0.21%		07/08/2022		30,000	29,931,208
							50,850,424

Specialized Finance-0.45%
Great Bear Funding LLC (OBFR + 0.15%)^(c)(d)		0.22%		07/01/2022		10,000	10,001,500
Total Commercial Paper (Cost $807,086,551)							806,513,598

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

3 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value

Certificates of Deposit-34.73%
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(c)(d)		0.25%		05/11/2022	$	10,000	$ 10,001,239
ANZ New Zealand (Int’l) Ltd.^(c)		0.07%		03/01/2022		55,000	55,000,000
Bank of Montreal^(c)		0.21%		06/24/2022		10,000	9,987,430
Bank of Nova Scotia (The) (SOFR + 0.11%)^(c)(d)		0.16%		04/20/2022		50,000	50,004,956
Canadian Imperial Bank of Commerce^(c)		0.07%		03/01/2022		38,000	38,000,000
Canadian Imperial Bank of Commerce (1 mo. FEDL + 0.10%)^(c)(d)		0.18%		06/08/2022		50,000	49,997,973
Cooperatieve Rabobank U.A.^(c)		0.07%		03/01/2022		105,000	105,000,000
DZ Bank AG Deutsche Zentral-Genossenschaftsbank^(c)		0.06%		03/01/2022		95,000	95,000,000
Goldman Sachs Bank USA (SOFR + 0.21%)^(d)		0.26%		09/16/2022		30,000	29,999,999
Nordea Bank Abp^(c)		0.06%		03/01/2022		95,000	95,000,000
Skandinaviska Enskilda Banken AB^(c)		0.06%		03/01/2022		95,000	95,000,000
Svenska Handelsbanken AB^(c)		0.06%		03/01/2022		75,000	75,000,000
Westpac Banking Corp. (SOFR + 0.13%)^(c)(d)		0.18%		07/15/2022		55,000	54,994,856
Westpac Banking Corp.^(c)		0.44%		11/23/2022		5,000	4,976,872
Total Certificates of Deposit (Cost $767,998,956)							767,963,325

Variable Rate Demand Notes-5.24%^(e)
Credit Enhanced-5.24%
Capital Area Housing Finance Corp. (Cypress Creek at River Apartments); Series 2006, VRD MFH RB (LOC - Citibank N.A.)^(f)(g)		0.23%		10/01/2039		2,400	2,400,000
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(g)		0.19%		06/01/2037		3,055	3,055,000
Jets Stadium Development LLC; Series 2014 A-4B, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)^(b)(c)(g)		0.26%		04/01/2047		9,200	9,199,999
Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank N.A.)^(g)		0.22%		05/01/2037		2,500	2,500,000
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(g)		0.19%		11/15/2046		11,180	11,180,000
Sarasota (County of), FL Public Hospital District (Sarasota Memorial Hospital); Series 2008 B, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(g)		0.20%		07/01/2037		5,420	5,420,000
University of Texas System Board of Regents; Subseries 2016 G-2, VRD RB		0.16%		08/01/2045		82,040	82,040,000
Total Variable Rate Demand Notes (Cost $115,794,999)							115,794,999
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-76.45% (Cost $1,690,880,506)							1,690,271,922

					Repurchase Amount

Repurchase Agreements-24.92%^(h)
BMO Capital Markets Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $100,003,111 (collateralized by U.S government sponsored agency obligations, domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $103,576,455; 0.00% - 8.88%; 04/25/2022 - 06/20/2071)^(c)(i)		0.16%		03/01/2022		27,000,840	27,000,000
BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $150,004,958 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $157,182,535; 0.00% - 8.20%; 02/13/2023 - 12/16/2062)^(c)(i)		0.17%		03/02/2022		15,000,496	15,000,000

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

4 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


	Interest Rate		Maturity Date		Repurchase Amount		Value
BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $25,001,069 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $26,546,588; 0.00% - 10.00%; 12/07/2021 - 12/20/2065)^(c)(i)		0.22%		03/02/2022	$	10,000,428	$ 10,000,000
Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic and foreign non-agency asset-backed securities and domestic non-agency mortgage-backed securities valued at $203,598,357; 1.17% - 7.06%; 10/25/2026 - 02/15/2039)^(j)		0.56%		03/01/2022		8,003,451	8,000,000
Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic non-agency asset-backed securities, domestic corporate obligations and domestic non-agency mortgage-backed securities valued at $55,045,612; 1.87% - 7.38%; 03/25/2026 - 06/01/2044)^(j)		0.55%		03/01/2022		35,014,963	35,000,000
Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic non-agency mortgage-backed securities valued at $55,143,137; 1.94% - 5.80%; 01/25/2030 - 12/15/2038)^(j)		0.54%		03/01/2022		10,004,197	10,000,000
Credit Agricole Corporate & Investment Bank, joint term agreement dated 02/22/2022, aggregate maturing value of $240,006,067 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations, domestic non-agency mortgage-backed securities and U.S. Treasury obligations valued at $246,893,829; 0.00% - 7.75%; 04/07/2022 - 05/01/2079)^(c)(i)		0.13%		03/01/2022		20,000,506	20,000,000
Credit Suisse Securities (USA) LLC, joint term agreement dated 02/23/2022, aggregate maturing value of $90,003,500 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities and domestic and foreign corporate obligations valued at $98,998,378; 0.00% - 15.98%; 04/22/2022 - 09/27/2060)^(c)(i)		0.20%		03/02/2022		25,000,972	25,000,000
Credit Suisse Securities (USA) LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $10,000,095 (collateralized by domestic non-agency mortgage-backed securities valued at $10,500,001; 1.38% - 4.74%; 12/15/2046 - 01/20/2051)^(c)(k)		0.34%		03/01/2022		2,000,019	2,000,000
J.P. Morgan Securities LLC, joint open agreement dated 04/28/2020 (collateralized by domestic and corporate obligations valued at $109,999,955; 0.00% - 10.88%; 04/30/2022 - 11/03/2037)^(j)		0.37%		03/01/2022		65,018,706	65,000,000
J.P. Morgan Securities LLC, joint open agreement dated 09/18/2020 (collateralized by domestic and foreign equity securities valued at $15,753,313; 0.00% - 8.50%; 10/31/2026 - 01/31/2028)^(j)		0.27%		03/01/2022		7,001,470	7,000,000
J.P. Morgan Securities LLC, open agreement dated 11/01/2021 (collateralized by a domestic agency mortgage-backed security and domestic non-agency mortgage-backed securities valued at $15,750,000; 0.22% - 3.36%; 06/15/2031 - 04/27/2065)^(j)		0.43%		03/01/2022		15,005,004	15,000,000
Mitsubishi UFJ Trust & Banking Corp., joint open agreement dated 02/23/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations, domestic and foreign commercial paper and a U.S. Treasury obligation valued at $51,697,846; 0.00% - 8.50%; 03/01/2022 - 01/15/2082)^(c)(j)		0.20%		03/01/2022		25,003,889	25,000,000
Mizuho Securities (USA) LLC, joint open agreement dated 12/30/2021 (collateralized by domestic and foreign equity securities valued at $52,500,215; 0.00%)^(c)(j)		0.22%		03/01/2022		28,000,171	28,000,000
RBC Capital Markets LLC, joint term agreement dated 02/23/2022, aggregate maturing value of $155,005,726 (collateralized by domestic and foreign corporate obligations valued at $170,310,340; 0.00% - 13.00%; 03/15/2022 - 05/15/2097)^(c)(i)		0.19%		03/02/2022		20,000,739	20,000,000
Societe Generale, joint open agreement dated 08/06/2019 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and domestic non-agency mortgage-backed securities valued at $78,729,067; 0.34% - 13.00%; 03/15/2022 - 12/15/2072)^(c)(j)		0.25%		03/01/2022		25,000,174	25,000,000
Societe Generale, joint open agreement dated 08/20/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations and a domestic non-agency mortgage-backed security valued at $91,931,202; 0.98% -10.13%; 01/05/2023 - 03/11/2061)^(c)(j)		0.18%		03/01/2022		65,000,325	65,000,000

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

5 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


	Interest Rate		Maturity Date		Repurchase Amount		Value
Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)		0.06%		03/01/2022	$	148,899,229	$	148,898,981

Total Repurchase Agreements (Cost $550,898,981)								550,898,981

TOTAL INVESTMENTS IN SECURITIES^(l)(m)-101.37% (Cost $2,241,779,487)								2,241,170,903

OTHER ASSETS LESS LIABILITIES-(1.37)%								(30,328,382	)

NET ASSETS-100.00%							$	2,210,842,521

Investment Abbreviations:

CEP -Credit Enhancement Provider

FEDL -Federal Funds Effective Rate

LOC -Letter of Credit

MFH -Multi-Family Housing

OBFR -Overnight Bank Funding Rate

RB -Revenue Bonds

Ref. -Refunding

SOFR -Secured Overnight Financing Rate

VRD -Variable Rate Demand

Notes to Schedule of Investments:

^(a)	Securities may be traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.

^(b)

^(c)

^(d)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(e)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(f)	Security subject to the alternative minimum tax.

^(g)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(h)	Principal amount equals value at period end. See Note 1I.

⁽ⁱ⁾	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(j)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(k)	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(l)	Also represents cost for federal income tax purposes.

^(m)	Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer’s obligations but may be called upon to satisfy the issuer’s obligations. No concentration of any single entity was greater than 5% each.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7		51.3%
8-30		4.1
31-60		10.4
61-90		5.2
91-180		20.9
181+		8.1

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

6 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco STIC Prime Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
Commercial Paper-31.79%^(a)
Asset-Backed Securities - Fully Supported-4.95%
Ionic Capital II Trust (CEP - Citibank N.A.)		0.16%		03/04/2022	$	8,000	$ 7,999,916
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.29%		04/05/2022		5,000	4,998,955
							12,998,871

Asset-Backed Securities - Fully Supported Bank-13.50%
Concord Minutemen Capital Co. LLC^(b)(c)		0.18%		03/17/2022		5,000	4,999,745
Institutional Secured Funding LLC (Multi - CEP’s)^(b)(c)		0.18%		03/04/2022		7,000	6,999,872
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)^(b)(c)		0.17%		03/16/2022		7,430	7,429,515
Nieuw Amsterdam Receivables Corp. (CEP - Cooperatieve Rabobank U.A.)^(b)(c)		0.17%		03/17/2022		8,000	7,999,490
Sheffield Receivables Co. LLC (CEP - Barclays Bank PLC)^(b)(c)		0.15%		03/11/2022		8,000	7,999,755
							35,428,377

Diversified Banks-13.34%
Agricultural Bank of China Ltd.^(b)(c)		0.18%		03/07/2022		8,000	7,999,759
BNG Bank N.V.^(b)(c)		0.10%		03/01/2022		5,000	4,999,991
Nederlandse Waterschapsbank N.V.^(b)(c)		0.51%		03/31/2022		7,000	6,999,036
NRW Bank^(b)(c)		0.51%		04/01/2022		7,000	6,996,889
Sumitomo Mitsui Trust Bank Ltd.^(b)(c)		0.17%		03/16/2022		8,000	7,999,573
							34,995,248
Total Commercial Paper (Cost $83,419,659)							83,422,496

Certificates of Deposit-25.92%
ANZ New Zealand (Int’l) Ltd.^(c)		0.07%		03/01/2022		12,000	12,000,000
Canadian Imperial Bank of Commerce^(c)		0.07%		03/01/2022		12,000	12,000,000
Cooperatieve Rabobank U.A.^(c)		0.07%		03/01/2022		4,000	4,000,000
DZ Bank AG Deutsche Zentral-Genossenschaftsbank^(c)		0.06%		03/01/2022		10,000	10,000,000
Nordea Bank Abp^(c)		0.06%		03/01/2022		10,000	10,000,000
Skandinaviska Enskilda Banken AB^(c)		0.06%		03/01/2022		10,000	10,000,000
Svenska Handelsbanken AB^(c)		0.06%		03/01/2022		10,000	10,000,000
Total Certificates of Deposit (Cost $68,000,000)							68,000,000

Variable Rate Demand Notes-15.46%^(d)
Credit Enhanced-15.46%
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(e)		0.19%		06/01/2037		5,610	5,610,000
Illinois (State of) Housing Development Authority (Danbury Court Apartments-Phase II); Series 2004 B, VRD MFH RB (LOC - FHLB of Indianapolis)^(e)(f)		0.28%		12/01/2039		730	730,000
Jets Stadium Development LLC; Series 2007 A-4, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)^(b)(e)		0.26%		04/01/2047		7,800	7,800,000
Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank N.A.)^(e)		0.22%		05/01/2037		3,050	3,050,000
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(e)		0.19%		11/15/2046		3,000	3,000,000
Mobile Downtown Redevelopment Authority (The) (Austal USA LLC); Series 2011 B, Ref. VRD RB^(b)		0.22%		05/01/2041		6,000	6,000,000
Ohio (State of) Housing Finance Agency (Wingate at Belle Meadows); Series 2004, VRD RB^(f)		0.15%		10/01/2036		8,205	8,205,000
Portland (Port of), OR (Portland International Airport); Subseries 2008 18-A, Ref. VRD RB (LOC - Industrial & Commercial Bank of China Ltd.)^(c)(e)(f)		0.27%		07/01/2026		570	570,000
Southeast Texas Housing Finance Corp. (Mansions at Moses Lake Apartments); Series 2008, VRD RB (CEP - FHLMC)^(f)		0.26%		06/01/2041		890	890,000

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

7 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

IInvesco STIC Prime Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value

Credit Enhanced-(continued)
Ziegler Realty LLC; Series 2007, VRD Notes (LOC - Wells Fargo Bank N.A.)^(b)(e)		0.18%		01/01/2033	$	4,700	$	4,700,000

Total Variable Rate Demand Notes (Cost $40,555,000)								40,555,000

TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-73.17% (Cost $191,974,659)								191,977,496


					Repurchase Amount
Repurchase Agreements-32.14%^(g)
BMO Capital Markets Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $100,003,111 (collateralized by U.S government sponsored agency obligations, domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $103,576,455; 0.00% - 8.88%; 04/25/2022 - 06/20/2071)^(c)(h)		0.16%		03/01/2022		3,000,093		3,000,000

BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $150,004,958 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $157,182,535; 0.00% -8.20%; 02/13/2023 - 12/16/2062)^(c)(h)		0.17%		03/02/2022		3,000,099		3,000,000

BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $25,001,069 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $26,546,588; 0.00% - 10.00%; 12/07/2021 - 12/20/2065)^(c)(h)		0.22%		03/02/2022		3,000,128		3,000,000

BofA Securities, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $745,001,035 (collateralized by domestic agency mortgage-backed securities valued at $759,900,001; 0.46% - 7.50%; 09/25/2022 - 01/01/2052)		0.05%		03/01/2022		12,000,017		12,000,000

Citigroup Global Markets, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $400,000,556 (collateralized by U.S. Treasury obligations valued at $408,000,001; 0.00% - 0.13%; 01/15/2023 - 02/15/2051)		0.05%		03/01/2022		12,000,017		12,000,000

Credit Suisse Securities (USA) LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $10,000,095 (collateralized by domestic non-agency mortgage-backed securities valued at $10,500,001; 1.38% - 4.74%; 12/15/2046 - 01/20/2051)^(c)(i)		0.34%		03/01/2022		8,000,076		8,000,000

J.P. Morgan Securities LLC, joint open agreement dated 09/18/2020 (collateralized by domestic and foreign equity securities valued at $15,753,313; 0.00% - 8.50%; 10/31/2026 -01/31/2028)^(j)		0.27%		03/01/2022		8,001,680		8,000,000

Mitsubishi UFJ Trust & Banking Corp., joint open agreement dated 02/23/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations, domestic and foreign commercial paper and a U.S. Treasury obligation valued at $51,697,846; 0.00% - 8.50%; 03/01/2022 - 01/15/2082)^(c)(j)		0.20%		03/01/2022		7,001,089		7,000,000

Mizuho Securities (USA) LLC, joint open agreement dated 12/30/2021 (collateralized by domestic and foreign equity securities valued at $52,500,215; 0.00%)^(c)(j)		0.22%		03/01/2022		7,000,043		7,000,000

Societe Generale, joint open agreement dated 08/06/2019 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and domestic non-agency mortgage-backed securities valued at $78,729,067; 0.34% - 13.00%; 03/15/2022 - 12/15/2072)^(c)(j)		0.25%		03/01/2022		5,000,035		5,000,000

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)		0.06%		03/01/2022		16,326,257		16,326,230

Total Repurchase Agreements (Cost $84,326,230)								84,326,230

TOTAL INVESTMENTS IN SECURITIES^(k)(l)-105.31% (Cost $276,300,889)								276,303,726

OTHER ASSETS LESS LIABILITIES-(5.31)%								(13,931,465	)

NET ASSETS-100.00%							$	262,372,261

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

8 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco STIC Prime Portfolio–(continued)

Investment Abbreviations:


CEP		-Credit Enhancement Provider
FHLB		-Federal Home Loan Bank
FHLMC		-Federal Home Loan Mortgage Corp.
LOC		-Letter of Credit
MFH		-Multi-Family Housing
RB		-Revenue Bonds
Ref.		-Refunding
VRD		-Variable Rate Demand

Notes to Schedule of Investments:

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

^(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 February 28, 2022 was $93,922,580, which represented 35.80% of the Fund’s Net Assets.

^(c)

The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: Netherlands: 11.8; Japan: 8.4%; Canada: 8.0%; Sweden: 7.6%; France: 6.6%; Germany: 6.5%; Switzerland: 5.0%; other countries less than 5% each: 14.7%.

^(d)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(e)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(f)	Security subject to the alternative minimum tax.

^(g)	Principal amount equals value at period end. See Note 1I.

^(h)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

⁽ⁱ⁾	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(j)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(k)	Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer’s obligation but may be called upon to satisfy issuer’s obligations. No concentration of any single entity was greater than 5% each.

^(l)	Also represents cost for federal income tax purposes.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7			75.8%

8-30			13.9

31-60			10.3

61-90			0.0

91-180			0.0

181+			0.0

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

9 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. Treasury Securities-60.06%
U.S. Treasury Bills-31.54%^(a)
U.S. Treasury Bills		0.11%		04/26/2022	$	721,000	$ 720,876,629
U.S. Treasury Bills		0.29%-0.31%		05/12/2022		650,000	649,612,998
U.S. Treasury Bills		0.28%		05/24/2022		225,000	224,855,625
U.S. Treasury Bills		0.38%		05/26/2022		450,000	449,591,499
U.S. Treasury Bills		0.28%-0.29%		05/31/2022		1,200,000	1,199,141,564
U.S. Treasury Bills		0.09%-0.36%		06/02/2022		600,000	599,589,500
U.S. Treasury Bills		0.34%		06/07/2022		527,000	526,512,232
U.S. Treasury Bills		0.07%-0.26%		06/16/2022		535,000	534,676,771
U.S. Treasury Bills		0.55%		06/21/2022		460,000	459,212,889
U.S. Treasury Bills		0.57%		06/28/2022		500,000	499,057,915
U.S. Treasury Bills		0.08%		07/14/2022		150,000	149,957,812
U.S. Treasury Bills		0.11%		08/11/2022		200,000	199,900,842
U.S. Treasury Bills		0.08%-0.12%		09/08/2022		500,000	499,727,295
U.S. Treasury Bills		0.09%		10/06/2022		200,000	199,890,500
							6,912,604,071

U.S. Treasury Floating Rate Notes-15.08%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)		0.47%		04/30/2022		744,000	744,073,587
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		07/31/2022		350,000	350,001,528
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		10/31/2022		355,000	354,993,431
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)		0.41%		01/31/2023		100,000	100,000,000
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		04/30/2023		250,500	250,509,461
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		07/31/2023		627,000	627,019,367
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)		0.40%		10/31/2023		880,000	879,991,372
							3,306,588,746

U.S. Treasury Notes-13.44%
U.S. Treasury Notes		1.75%		03/31/2022		300,000	300,412,035
U.S. Treasury Notes		1.88%		03/31/2022		100,000	100,145,660
U.S. Treasury Notes		1.75%		04/30/2022		200,000	200,549,446
U.S. Treasury Notes		1.75%		06/15/2022		200,000	200,963,044
U.S. Treasury Notes		0.13%		06/30/2022		200,000	200,023,309
U.S. Treasury Notes		1.75%		06/30/2022		100,000	100,547,880
U.S. Treasury Notes		2.13%		06/30/2022		200,000	201,349,336
U.S. Treasury Notes		1.75%		07/15/2022		200,000	201,230,784
U.S. Treasury Notes		0.13%		07/31/2022		200,000	200,033,666
U.S. Treasury Notes		1.88%		07/31/2022		250,000	251,856,731
U.S. Treasury Notes		1.63%		08/15/2022		200,000	201,417,294
U.S. Treasury Notes		1.63%		08/31/2022		150,000	151,137,915
U.S. Treasury Notes		1.50%		09/15/2022		150,000	151,151,255

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

10 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. Treasury Notes-(continued)
U.S. Treasury Notes		1.38%		10/15/2022	$	200,000	$ 201,613,975
U.S. Treasury Notes		1.88%		10/31/2022		180,000	182,134,400
U.S. Treasury Notes		2.00%		10/31/2022		100,000	101,267,558
							2,945,834,288
Total U.S. Treasury Securities (Cost $13,165,027,105)							13,165,027,105
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-60.06% (Cost $13,165,027,105)							13,165,027,105

					Repurchase Amount

Repurchase Agreements-44.00%^(c)
Bank of Nova Scotia, agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by U.S. Treasury obligations valued at $510,000,014; 0.13% - 2.75%; 09/30/2022 - 08/15/2029)		0.05%		03/01/2022		500,000,694	500,000,000
BofA Securities, Inc., agreement dated 02/28/2022, maturing value of $600,000,833 (collateralized by U.S. Treasury obligations valued at $612,000,010; 1.13% - 7.63%; 11/15/2024 - 05/15/2051)		0.05%		03/01/2022		600,000,833	600,000,000
CIBC World Markets Corp., joint term agreement dated 02/07/2022, aggregate maturing value of $350,020,319 (collateralized by U.S. Treasury obligations valued at $357,000,019; 0.00% - 4.50%; 07/14/2022 - 02/15/2051)^(d)		0.06%		03/17/2022		150,008,708	150,000,000
Citigroup Global Markets, Inc., joint term agreement dated 02/22/2022, aggregate maturing value of $300,003,208 (collateralized by U.S. Treasury obligations valued at $306,000,095; 1.25% - 2.25%; 11/15/2022 -04/30/2028)^(d)		0.06%		03/01/2022		110,001,176	110,000,000
Credit Agricole Corporate & Investment Bank, joint agreement dated 02/28/2022, aggregate maturing value of $1,250,001,736 (collateralized by U.S. Treasury obligations valued at $1,275,000,039; 0.75% - 2.75%; 05/31/2023 - 09/30/2028)		0.05%		03/01/2022		950,001,319	950,000,000
Credit Agricole Corporate & Investment Bank, joint open agreement dated 12/01/2021 (collateralized by U.S. Treasury obligations valued at $2,032,860,462; 0.13% - 3.13%; 04/15/2024 - 11/15/2050)^(e)		0.05%		03/01/2022		450,017,375	450,000,000
DNB Bank ASA, agreement dated 02/28/2022, maturing value of $350,000,486 (collateralized by U.S. Treasury obligations valued at $361,046,466; 0.13% - 1.63%; 07/15/2027 - 07/15/2031)		0.05%		03/01/2022		350,000,486	350,000,000
Federal Reserve Bank of New York, joint agreement dated 02/28/2022, aggregate maturing value of $800,001,111 (collateralized by U.S. Treasury obligations valued at $800,001,169; 0.13%; 11/30/2022)		0.05%		03/01/2022		200,000,278	200,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), agreement dated 02/28/2022, maturing value of $1,500,002,083 (collateralized by U.S. Treasury obligations valued at $1,530,000,063; 0.13% - 2.88%; 05/15/2022 - 11/15/2046)		0.05%		03/01/2022		1,500,002,083	1,500,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), joint agreement dated 02/28/2022, aggregate maturing value of $612,000,085 (collateralized by U.S. Treasury obligations valued at $624,240,130; 0.00%; 08/11/2022)		0.01%		03/01/2022		200,000,028	200,000,000
Goldman Sachs & Co., agreement dated 02/28/2022, maturing value of $250,000,347 (collateralized by a U.S. Treasury obligation valued at $255,000,014; 1.75%; 11/15/2029)		0.05%		03/01/2022		250,000,347	250,000,000
ING Financial Markets, LLC, agreement dated 02/28/2022, maturing value of $100,000,139 (collateralized by U.S. Treasury obligations valued at $102,000,056; 0.00% - 1.75%; 05/19/2022 - 02/15/2045)		0.05%		03/01/2022		100,000,139	100,000,000
J.P. Morgan Securities LLC, joint open agreement dated 03/27/2020 (collateralized by U.S. Treasury obligations valued at $867,001,467; 0.00% -2.38%; 03/03/2022 - 05/15/2050)^(e)		0.05%		03/01/2022		630,024,325	630,000,000

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

11 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)


	Interest Rate		Maturity Date		Repurchase Amount		Value
Metropolitan Life Insurance Co., joint term agreement dated 02/23/2022, aggregate maturing value of $350,014,295 (collateralized by U.S. Treasury obligations valued at $358,935,903; 0.00%; 08/15/2027 - 11/15/2045)^(d)		0.07%		03/02/2022	$	100,004,324	$	100,002,963

Mitsubishi UFJ Trust & Banking Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $768,135,455 (collateralized by U.S. Treasury obligations valued at $788,525,747; 1.13%; 02/28/2025 - 02/28/2027)^(d)		0.07%		03/02/2022		266,003,621		266,000,000

Mitsubishi UFJ Trust & Banking Corp., term agreement dated 02/23/2022, maturing value of $100,001,167 (collateralized by U.S. Treasury obligations valued at $102,001,081; 0.63% - 1.25%; 08/15/2030 - 08/15/2031)^(d)		0.06%		03/02/2022		100,001,167		100,000,000

Prudential Insurance Co. of America, agreement dated 02/28/2022, maturing value of $256,312,927 (collateralized by U.S. Treasury obligations valued at $264,258,250; 0.00%; 08/15/2027 - 08/15/2037)		0.06%		03/01/2022		256,312,927		256,312,500

Prudential Legacy Insurance Company of New Jersey, agreement dated 02/28/2022, maturing value of $348,750,581 (collateralized by U.S. Treasury obligations valued at $361,788,000; 0.00%; 08/15/2033 -02/15/2045)		0.06%		03/01/2022		348,750,581		348,750,000

RBC Dominion Securities Inc., joint term agreement dated 02/08/2022, aggregate maturing value of $500,016,667 (collateralized by U.S. Treasury obligations valued at $510,000,124; 0.13% - 6.00%; 07/15/2024 -02/15/2050)^(d)		0.05%		03/04/2022		100,003,333		100,000,000

RBC Dominion Securities Inc., joint term agreement dated 02/24/2022, aggregate maturing value of $500,004,861 (collateralized by U.S. Treasury obligations valued at $510,000,087; 0.13% - 5.25%; 04/30/2022 -02/15/2052)^(d)		0.05%		03/03/2022		250,002,431		250,000,000

Royal Bank of Canada, joint term agreement dated 02/11/2022, aggregate maturing value of $100,004,583 (collateralized by U.S. Treasury obligations valued at $102,000,076; 0.13% - 2.75%; 05/15/2022 - 11/15/2041)^(d)		0.05%		03/16/2022		50,002,292		50,000,000

Royal Bank of Canada, term agreement dated 02/23/2022, maturing value of $250,002,431 (collateralized by U.S. Treasury obligations valued at $255,000,061; 0.13% - 2.88%; 05/15/2022 - 11/15/2041)^(d)		0.05%		03/02/2022		250,002,431		250,000,000

Societe Generale, joint open agreement dated 01/05/2022 (collateralized by U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 7.63%; 03/01/2022 - 02/15/2052)^(e)		0.05%		03/01/2022		275,000,382		275,000,000

Societe Generale, joint open agreement dated 01/12/2022 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,530,000,206; 0.00% -7.63%; 03/01/2022 - 10/01/2051)^(e)		0.05%		03/01/2022		380,000,528		380,000,000

Standard Chartered Bank, agreement dated 02/28/2022, maturing value of $250,000,347 (collateralized by U.S. Treasury obligations valued at $255,000,373; 0.13% - 4.38%; 07/15/2023 - 05/15/2051)		0.05%		03/01/2022		250,000,347		250,000,000

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,700,003,750 (collateralized by U.S. Treasury obligations valued at $2,754,000,090; 0.38% - 2.88%; 07/31/2022 -02/15/2051)		0.05%		03/01/2022		1,027,847,515		1,027,846,087

Total Repurchase Agreements (Cost $9,643,911,550)								9,643,911,550

TOTAL INVESTMENTS IN SECURITIES-104.06% (Cost $22,808,938,655)								22,808,938,655

OTHER ASSETS LESS LIABILITIES-(4.06)%								(889,390,382	)

NET ASSETS-100.00%							$	21,919,548,273

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(c)	Principal amount equals value at period end. See Note 1I.

^(d)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(e)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

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

12 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7			39.9%

8-30			0.0

31-60			5.1

61-90			10.4

91-180			27.7

181+			16.9

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

13 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. Treasury Securities-61.01%

U.S. Treasury Bills-43.56%^(a)
U.S. Treasury Bills		0.06%		03/01/2022	$	475,000	$ 475,000,000
U.S. Treasury Bills		0.07%		03/10/2022		750,000	749,986,875
U.S. Treasury Bills		0.08%		03/24/2022		715,000	714,965,740
U.S. Treasury Bills		0.07%		03/29/2022		705,000	704,961,471
U.S. Treasury Bills		0.09%		03/31/2022		815,000	814,942,271
U.S. Treasury Bills		0.25%		04/12/2022		2,011,000	2,010,413,458
U.S. Treasury Bills		0.25%		04/19/2022		3,000,000	2,998,979,164
U.S. Treasury Bills		0.07%		04/21/2022		250,000	249,976,979
U.S. Treasury Bills		0.11%		04/26/2022		1,690,000	1,689,603,342
U.S. Treasury Bills		0.24%		05/05/2022		750,000	749,675,000
U.S. Treasury Bills		0.29%		05/12/2022		1,200,000	1,199,303,997
U.S. Treasury Bills		0.23%		05/17/2022		545,000	544,729,618
U.S. Treasury Bills		0.44%		05/19/2022		500,000	499,517,223
U.S. Treasury Bills		0.25%		05/24/2022		800,000	799,512,917
U.S. Treasury Bills		0.29%		05/31/2022		2,000,000	1,998,572,943
U.S. Treasury Bills		0.09%		06/02/2022		850,000	849,463,625
U.S. Treasury Bills		0.34%		06/07/2022		1,550,000	1,548,572,738
U.S. Treasury Bills		0.11%		06/09/2022		250,000	249,927,083
U.S. Treasury Bills		0.50%		06/14/2022		905,000	903,692,954
U.S. Treasury Bills		0.07%		06/16/2022		400,000	399,917,521
U.S. Treasury Bills		0.55%		06/21/2022		1,565,000	1,562,322,111
U.S. Treasury Bills		0.57%		06/28/2022		1,600,000	1,597,117,141
U.S. Treasury Bills		0.08%		08/11/2022		300,000	299,891,333
U.S. Treasury Bills		0.61%-0.72%		08/25/2022		2,075,000	2,068,206,952
U.S. Treasury Bills		0.08%		09/08/2022		75,000	74,970,156
U.S. Treasury Bills		0.10%		10/06/2022		860,000	859,518,656
							26,613,741,268

U.S. Treasury Floating Rate Notes-8.87%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)		0.47%		04/30/2022		107,000	107,014,699
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		07/31/2022		287,000	287,008,217
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		10/31/2022		730,000	730,013,539
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)		0.41%		01/31/2023		412,400	412,493,852
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		04/30/2023		1,330,000	1,330,100,459
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		07/31/2023		1,085,000	1,085,029,584
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)		0.40%		10/31/2023		1,238,679	1,238,723,205
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate - 0.02%)^(b)		0.35%		01/31/2024		230,000	229,924,030
							5,420,307,585

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

14 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. Treasury Notes-8.58%
U.S. Treasury Notes		2.38%		03/15/2022	$	46,000	$ 46,040,879
U.S. Treasury Notes		1.75%		03/31/2022		650,000	650,895,927
U.S. Treasury Notes		1.88%		03/31/2022		925,000	926,373,709
U.S. Treasury Notes		1.75%		04/30/2022		50,000	50,137,302
U.S. Treasury Notes		1.88%		04/30/2022		150,000	150,446,901
U.S. Treasury Notes		1.75%		05/15/2022		135,000	135,465,164
U.S. Treasury Notes		2.13%		05/15/2022		190,000	190,803,023
U.S. Treasury Notes		1.75%		05/31/2022		50,000	50,209,503
U.S. Treasury Notes		1.75%		06/30/2022		739,243	743,325,465
U.S. Treasury Notes		2.13%		06/30/2022		660,000	664,453,821
U.S. Treasury Notes		1.75%		07/15/2022		625,000	628,878,536
U.S. Treasury Notes		0.13%		07/31/2022		150,000	150,011,557
U.S. Treasury Notes		2.00%		07/31/2022		210,000	211,669,979
U.S. Treasury Notes		1.50%		08/15/2022		140,000	140,910,651
U.S. Treasury Notes		1.63%		08/15/2022		100,000	100,703,676
U.S. Treasury Notes		1.88%		08/31/2022		90,000	90,521,762
U.S. Treasury Notes		1.50%		09/15/2022		210,000	211,598,819
U.S. Treasury Notes		1.75%		09/30/2022		100,000	100,971,671
							5,243,418,345
Total U.S. Treasury Securities (Cost $37,277,467,198)							37,277,467,198

U.S. Government Sponsored Agency Securities-8.16%
Federal Farm Credit Bank (FFCB)-3.16%
Federal Farm Credit Bank (SOFR + 0.08%)^(b)		0.13%		03/10/2022		28,000	28,000,000
Federal Farm Credit Bank (SOFR + 0.09%)^(b)		0.13%		06/17/2022		65,000	65,000,000
Federal Farm Credit Bank (SOFR + 0.20%)^(b)		0.25%		06/23/2022		12,000	12,004,748
Federal Farm Credit Bank (SOFR + 0.19%)^(b)		0.24%		07/14/2022		28,000	28,000,000
Federal Farm Credit Bank (SOFR + 0.15%)^(b)		0.19%		07/28/2022		45,000	45,000,000
Federal Farm Credit Bank (SOFR + 0.07%)^(b)		0.12%		08/11/2022		108,000	108,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		08/26/2022		97,500	97,497,588
Federal Farm Credit Bank (SOFR + 0.09%)^(b)		0.13%		10/07/2022		30,000	30,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		10/12/2022		18,000	18,000,562
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		10/21/2022		20,000	20,000,000
Federal Farm Credit Bank (SOFR + 0.08%)^(b)		0.13%		11/03/2022		35,000	35,000,000
Federal Farm Credit Bank (SOFR + 0.01%)^(b)		0.06%		11/16/2022		185,000	184,997,327
Federal Farm Credit Bank (SOFR + 0.07%)^(b)		0.12%		11/18/2022		56,000	56,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		12/01/2022		74,000	74,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		12/28/2022		350,000	350,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		02/09/2023		18,000	18,000,000
Federal Farm Credit Bank (SOFR + 0.02%)^(b)		0.07%		06/12/2023		75,000	75,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		06/14/2023		58,000	58,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		07/07/2023		143,000	143,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.07%		09/08/2023		155,000	155,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		09/18/2023		21,500	21,500,000
Federal Farm Credit Bank (SOFR + 0.04%)^(b)		0.09%		09/20/2023		25,000	25,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.07%		09/27/2023		60,000	60,000,000

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

15 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
Federal Farm Credit Bank (FFCB)-(continued)
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.10%		11/07/2023	$	50,000	$ 50,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		12/13/2023		84,000	84,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		01/10/2024		75,500	75,500,000
Federal Farm Credit Bank (SOFR + 0.04%)^(b)		0.09%		01/25/2024		15,000	15,000,000
							1,931,500,225

Federal Home Loan Bank (FHLB)-4.23%
Federal Home Loan Bank		0.05%		03/17/2022		200,000	199,998,812
Federal Home Loan Bank (SOFR + 0.07%)^(b)		0.12%		04/14/2022		45,000	45,000,000
Federal Home Loan Bank (SOFR + 0.07%)^(b)		0.11%		04/28/2022		28,000	28,000,000
Federal Home Loan Bank		0.06%		05/06/2022		29,000	28,999,425
Federal Home Loan Bank^(a)		0.27%		05/11/2022		244,000	243,872,476
Federal Home Loan Bank (SOFR + 0.06%)^(b)		0.11%		05/12/2022		35,000	35,000,000
Federal Home Loan Bank^(a)		0.40%		05/18/2022		114,800	114,700,507
Federal Home Loan Bank^(a)		0.40%		05/20/2022		1,101,000	1,100,021,333
Federal Home Loan Bank		2.13%		06/10/2022		55,750	56,054,443
Federal Home Loan Bank (SOFR + 0.13%)^(b)		0.18%		08/05/2022		80,000	80,000,000
Federal Home Loan Bank (SOFR + 0.09%)^(b)		0.14%		08/19/2022		380,000	380,003,070
Federal Home Loan Bank (SOFR + 0.09%)^(b)		0.13%		10/05/2022		80,000	80,000,000
Federal Home Loan Bank (SOFR + 0.06%)^(b)		0.11%		12/08/2022		63,200	63,202,161
Federal Home Loan Bank (SOFR + 0.06%)^(b)		0.11%		12/16/2022		3,500	3,500,845
Federal Home Loan Bank (SOFR + 0.03%)^(b)		0.08%		06/07/2023		125,000	125,000,000
							2,583,353,072

Federal Home Loan Mortgage Corp. (FHLMC)-0.40%
Federal Home Loan Mortgage Corp.		0.25%		06/08/2022		15,510	15,517,146
Federal Home Loan Mortgage Corp.		0.13%		07/25/2022		38,000	38,002,165
Federal Home Loan Mortgage Corp. (SOFR + 0.09%)^(b)		0.14%		09/16/2022		190,000	190,000,000
							243,519,311

Federal National Mortgage Association (FNMA)-0.00%
Federal National Mortgage Association^(a)		0.20%		03/09/2022		2,500	2,499,889

U.S. International Development Finance Corp. (DFC)-0.37%
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		06/15/2025		16,800	16,800,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		07/15/2025		18,278	18,277,780
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/15/2025		3,947	3,947,368
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/15/2026		4,750	4,750,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/15/2026		7,917	7,916,667
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		08/13/2027		8,000	8,000,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		08/13/2027		4,600	4,600,000

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

16 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. International Development Finance Corp. (DFC)-(continued)
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/30/2027	$	12,000	$ 12,000,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		02/15/2028		13,333	13,333,333
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		11/15/2028		61,364	61,363,637
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.20%		05/15/2030		7,488	7,488,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		10/15/2030		7,778	7,777,778
U.S. International Development Finance Corp. VRD Notes (3 mo. U.S. Treasury Bill Rate)^(c)		0.16%		07/09/2026		22,950	22,950,000
U.S. International Development Finance Corp. VRD Notes (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		03/15/2030		37,125	37,125,000
							226,329,563
Total U.S. Government Sponsored Agency Securities (Cost $4,987,202,060)							4,987,202,060
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-69.17% (Cost $42,264,669,258)							42,264,669,258

					Repurchase Amount
Repurchase Agreements-35.49%^(d)
ABN AMRO Bank N.V., agreement dated 02/28/2022, maturing value of $350,000,486 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $357,000,074; 1.30% - 4.50%; 06/30/2022 - 09/16/2063)		0.05%		03/01/2022		350,000,486	350,000,000
ABN AMRO Bank N.V., agreement dated 02/28/2022, maturing value of $450,000,625 (collateralized by U.S. Treasury obligations valued at $459,000,068; 0.13% - 3.38%; 06/30/2022 - 02/15/2051)		0.05%		03/01/2022		450,000,625	450,000,000
Bank of Montreal, joint term agreement dated 02/10/2022, aggregate maturing value of $250,014,583 (collateralized by domestic agency mortgage-backed securities valued at $255,000,000; 2.50% - 4.50%; 11/01/2046 -02/01/2052)^(e)		0.06%		03/17/2022		125,007,292	125,000,000
BNP Paribas Securities Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $500,004,861 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,007; 0.00% - 7.00%; 06/21/2022 - 02/01/2052)^(e)		0.05%		03/01/2022		385,003,743	385,000,000
BofA Securities, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $745,001,035 (collateralized by domestic agency mortgage-backed securities valued at $759,900,001; 0.46% - 7.50%; 09/25/2022 -01/01/2052)		0.05%		03/01/2022		238,000,331	238,000,000
CIBC World Markets Corp., joint term agreement dated 01/24/2022, aggregate maturing value of $500,043,333 (collateralized by domestic agency mortgage-backed securities valued at $510,000,000; 1.50% - 4.50%; 10/01/2036 - 03/01/2052)^(e)		0.06%		03/17/2022		350,030,333	350,000,000
CIBC World Markets Corp., joint term agreement dated 02/07/2022, aggregate maturing value of $350,020,319 (collateralized by U.S. Treasury obligations valued at $357,000,019; 0.00% - 4.50%; 07/14/2022 - 02/15/2051)^(e)		0.06%		03/17/2022		200,011,611	200,000,000
Citigroup Global Markets, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $400,000,556 (collateralized by U.S. Treasury obligations valued at $408,000,001; 0.00% - 0.13%; 01/15/2023 - 02/15/2051)		0.05%		03/01/2022		113,000,157	113,000,000

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

17 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Repurchase Amount		Value
Citigroup Global Markets, Inc., joint term agreement dated 02/22/2022, aggregate maturing value of $500,005,833 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,029; 0.00% - 17.46%; 07/31/2023 - 07/20/2070)^(e)		0.06%		03/01/2022	$	400,004,667	$ 400,000,000
Credit Agricole Corporate & Investment Bank, agreement dated 02/28/2022, maturing value of $200,000,278 (collateralized by a domestic agency mortgage-backed security valued at $204,000,001; 2.00%; 01/20/2051)		0.05%		03/01/2022		200,000,278	200,000,000
Credit Agricole Corporate & Investment Bank, joint open agreement dated 12/01/2021 (collateralized by U.S. Treasury obligations valued at $2,032,860,462; 0.13% - 3.13%; 04/15/2024 - 11/15/2050)^(f)		0.05%		03/01/2022		1,242,047,955	1,242,000,000
Federal Reserve Bank of New York, joint agreement dated 02/28/2022, aggregate maturing value of $800,001,111 (collateralized by U.S. Treasury obligations valued at $800,001,169; 0.13%; 11/30/2022)		0.05%		03/01/2022		600,000,833	600,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), agreement dated 02/28/2022, maturing value of $3,500,004,861 (collateralized by U.S. Treasury obligations valued at $3,570,000,054; 0.13% - 3.88%; 01/15/2026 - 02/15/2044)		0.05%		03/01/2022		3,500,004,861	3,500,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), joint agreement dated 02/28/2022, aggregate maturing value of $612,000,085 (collateralized by U.S. Treasury obligations valued at $624,240,130; 0.00%; 08/11/2022)		0.01%		03/01/2022		412,000,057	412,000,000
Fixed Income Clearing Corp. - State Street Bank, agreement dated 02/28/2022, maturing value of $300,000,083 (collateralized by U.S. Treasury obligations valued at $306,000,068; 0.13% - 0.47%; 04/15/2022 - 04/30/2022)		0.01%		03/01/2022		300,000,083	300,000,000
Goldman Sachs & Co., agreement dated 02/28/2022, maturing value of $500,000,139 (collateralized by U.S. Treasury obligations valued at $510,000,000; 0.00% - 7.63%; 04/07/2022 - 02/15/2052)		0.01%		03/01/2022		500,000,139	500,000,000
Goldman Sachs & Co., term agreement dated 02/22/2022, maturing value of $295,003,155 (collateralized by U.S. Treasury obligations valued at $300,900,027; 0.00% - 2.50%; 08/15/2022 - 02/28/2026)^(e)		0.06%		03/01/2022		295,003,155	295,000,000
ING Financial Markets, LLC, joint term agreement dated 02/22/2022, aggregate maturing value of $200,008,944 (collateralized by domestic agency mortgage-backed securities valued at $204,000,000; 1.50% - 4.50%; 10/01/2029 - 05/01/2058)		0.07%		03/17/2022		130,005,814	130,000,000
ING Financial Markets, LLC, joint term agreement dated 12/28/2021, aggregate maturing value of $350,070,000 (collateralized by U.S. government sponsored agency obligations and domestic agency mortgage-backed securities valued at $357,000,395; 0.00% - 7.50%; 12/28/2022 - 05/01/2058)		0.08%		03/28/2022		300,060,000	300,000,000
ING Financial Markets, LLC, term agreement dated 02/07/2022, maturing value of $200,010,667 (collateralized by domestic agency mortgage-backed securities valued at $204,000,000; 1.50% - 7.50%; 06/01/2027 -02/01/2052)		0.06%		03/11/2022		200,010,667	200,000,000
ING Financial Markets, LLC, term agreement dated 02/10/2022, maturing value of $275,013,292 (collateralized by U.S. government sponsored agency obligations and domestic agency mortgage-backed securities valued at $280,500,646; 0.00% - 5.00%; 04/05/2022 - 02/01/2052)		0.06%		03/11/2022		275,013,292	275,000,000
J.P. Morgan Securities LLC, joint agreement dated 02/28/2022, aggregate maturing value of $1,000,001,667 (collateralized by domestic agency mortgage-backed securities valued at $1,020,000,000; 0.46% - 7.50%; 06/25/2025 - 10/16/2062)		0.06%		03/01/2022		800,001,333	800,000,000
J.P. Morgan Securities LLC, joint open agreement dated 03/27/2020 (collateralized by U.S. Treasury obligations valued at $867,001,467; 0.00% -2.38%; 03/03/2022 - 05/15/2050)^(f)		0.05%		03/01/2022		150,005,792	150,000,000
J.P. Morgan Securities LLC, joint open agreement dated 07/01/2021 (collateralized by domestic agency mortgage-backed securities valued at $239,700,000; 0.47% - 6.00%; 01/01/2026 - 10/15/2061)^(f)		0.06%		03/01/2022		210,009,742	210,000,000

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

18 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Repurchase Amount		Value
J.P. Morgan Securities LLC, joint open agreement dated 07/01/2021 (collateralized by domestic agency mortgage-backed securities valued at $280,500,035; 1.85% - 6.00%; 07/01/2026 - 02/20/2052)^(f)		0.07%		03/01/2022	$	240,013,000	$ 240,000,000
J.P. Morgan Securities LLC, joint open agreement dated 10/15/2019 (collateralized by domestic agency mortgage-backed securities valued at $382,500,005; 0.46% - 7.50%; 12/15/2026 - 02/16/2058)^(f)		0.07%		03/01/2022		275,014,896	275,000,000
Metropolitan Life Insurance Co., joint term agreement dated 02/23/2022, aggregate maturing value of $350,014,295 (collateralized by U.S. Treasury obligations valued at $358,935,903; 0.00%; 08/15/2027 - 11/15/2045)^(e)		0.07%		03/02/2022		170,004,314	170,002,000
Mitsubishi UFJ Trust & Banking Corp., agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by domestic agency mortgage-backed securities valued at $510,000,000; 0.30% - 3.50%; 08/25/2027 -01/20/2052)		0.05%		03/01/2022		500,000,694	500,000,000
Mitsubishi UFJ Trust & Banking Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $768,135,455 (collateralized by U.S. Treasury obligations valued at $788,525,747; 1.13%; 02/28/2025 - 02/28/2027)^(e)		0.07%		03/02/2022		338,192,103	338,187,500
Mizuho Securities (USA) LLC, agreement dated 02/28/2022, maturing value of $200,000,278 (collateralized by U.S. Treasury obligations valued at $204,000,019; 0.00%; 03/31/2022 - 08/04/2022)		0.05%		03/01/2022		200,000,278	200,000,000
Prudential Insurance Co. of America, agreement dated 02/28/2022, maturing value of $509,883,350 (collateralized by U.S. Treasury obligations valued at $528,644,040; 0.00%; 02/15/2026 - 11/15/2043)		0.06%		03/01/2022		509,883,350	509,882,500
RBC Capital Markets LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $750,001,875 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $765,000,244; 0.13% - 8.00%; 03/01/2022 - 08/20/2065)^(e)(g)		0.09%		03/01/2022		600,001,500	600,000,000
RBC Dominion Securities Inc., agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,049; 0.00% - 5.50%; 07/15/2024 - 01/15/2052)		0.05%		03/01/2022		500,000,694	500,000,000
RBC Dominion Securities Inc., joint term agreement dated 01/11/2022, aggregate maturing value of $500,049,167 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,022; 0.00% - 6.00%; 03/31/2022 - 01/15/2052)^(e)		0.06%		03/11/2022		250,024,583	250,000,000
RBC Dominion Securities Inc., joint term agreement dated 01/19/2022, aggregate maturing value of $1,000,076,389 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 5.50%; 02/15/2030 - 01/15/2052)^(e)		0.06%		03/10/2022		875,066,840	875,000,000
RBC Dominion Securities Inc., joint term agreement dated 02/08/2022, aggregate maturing value of $500,016,667 (collateralized by U.S. Treasury obligations valued at $510,000,124; 0.13% - 6.00%; 07/15/2024 - 02/15/2050)^(e)		0.05%		03/04/2022		200,006,667	200,000,000
RBC Dominion Securities Inc., joint term agreement dated 02/24/2022, aggregate maturing value of $500,004,861 (collateralized by U.S. Treasury obligations valued at $510,000,087; 0.13% - 5.25%; 04/30/2022 - 02/15/2052)^(e)		0.05%		03/03/2022		250,002,431	250,000,000
Royal Bank of Canada, joint term agreement dated 02/11/2022, aggregate maturing value of $100,004,583 (collateralized by U.S. Treasury obligations valued at $102,000,076; 0.13% - 2.75%; 05/15/2022 - 11/15/2041)^(e)		0.05%		03/16/2022		50,002,292	50,000,000
Societe Generale, joint agreement dated 02/28/2022, aggregate maturing value of $1,600,002,222 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,632,000,047; 0.00% - 7.13%; 03/15/2022 -02/01/2052)		0.05%		03/01/2022		1,350,001,875	1,350,000,000

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

19 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Repurchase Amount		Value
Societe Generale, joint open agreement dated 01/05/2022 (collateralized by U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 7.63%; 03/01/2022 - 02/15/2052)^(f)		0.05%		03/01/2022	$	575,000,799	$	575,000,000

Societe Generale, joint open agreement dated 01/12/2022 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,530,000,206; 0.00% -7.63%; 03/01/2022 - 10/01/2051)^(f)		0.05%		03/01/2022		890,001,236		890,000,000

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)		0.06%		03/01/2022		455,713,751		455,712,991

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,700,003,750 (collateralized by U.S. Treasury obligations valued at $2,754,000,090; 0.38% - 2.88%; 07/31/2022 -02/15/2051)		0.05%		03/01/2022		1,672,156,235		1,672,153,913

TD Securities (USA) LLC, term agreement dated 02/23/2022, maturing value of $55,000,588 (collateralized by a U.S. Treasury obligation valued at $56,100,009; 2.75%; 11/15/2023)^(e)		0.06%		03/02/2022		55,000,588		55,000,000

Total Repurchase Agreements (Cost $21,680,938,904)								21,680,938,904

TOTAL INVESTMENTS IN SECURITIES-104.66% (Cost $63,945,608,162)								63,945,608,162

OTHER ASSETS LESS LIABILITIES-(4.66)%								(2,849,604,491	)

NET ASSETS-100.00%							$	61,096,003,671

Investment Abbreviations:

SOFR -Secured Overnight Financing Rate

VRD -Variable Rate Demand

Notes to Schedule of Investments:

^(a)	Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund. (b) Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(c)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(d)	Principal amount equals value at period end. See Note 1I.

^(e)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(f)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(g)	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7			30.1%

8-30			5.5

31-60			15.4

61-90			9.7

91-180			25.6

181+			13.7

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

20 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Treasury Obligations Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. Treasury Securities-113.88%
U.S. Treasury Bills-96.41%^(a)
U.S. Treasury Bills		0.06%		03/01/2022	$	73,600	$ 73,600,000
U.S. Treasury Bills		0.01%-0.05%		03/03/2022		40,700	40,699,891
U.S. Treasury Bills		0.06%		03/08/2022		84,000	83,999,469
U.S. Treasury Bills		0.06%-0.07%		03/10/2022		32,000	31,999,504
U.S. Treasury Bills		0.02%-0.05%		03/15/2022		105,000	104,998,816
U.S. Treasury Bills		0.06%		03/17/2022		20,500	20,499,499
U.S. Treasury Bills		0.05%-0.08%		03/22/2022		86,938	86,933,792
U.S. Treasury Bills		0.14%		03/29/2022		88,600	88,594,856
U.S. Treasury Bills		0.09%		03/31/2022		15,650	15,648,891
U.S. Treasury Bills		0.14%		04/05/2022		30,000	29,995,916
U.S. Treasury Bills		0.09%		04/07/2022		30,000	29,997,225
U.S. Treasury Bills		0.25%		04/12/2022		70,000	69,979,583
U.S. Treasury Bills		0.12%		04/14/2022		20,000	19,997,030
U.S. Treasury Bills		0.25%		04/19/2022		80,000	79,972,778
U.S. Treasury Bills		0.07%-0.17%		04/21/2022		21,000	20,996,391
U.S. Treasury Bills		0.11%		04/26/2022		70,000	69,981,022
U.S. Treasury Bills		0.19%		04/28/2022		21,000	20,993,572
U.S. Treasury Bills		0.21%		05/03/2022		8,000	7,997,130
U.S. Treasury Bills		0.24%		05/05/2022		30,000	29,987,000
U.S. Treasury Bills		0.26%		05/10/2022		1,467	1,466,265
U.S. Treasury Bills		0.29%		05/12/2022		30,000	29,982,600
U.S. Treasury Bills		0.23%		05/17/2022		11,000	10,994,590
U.S. Treasury Bills		0.40%		05/19/2022		7,000	6,993,902
U.S. Treasury Bills		0.28%		05/24/2022		11,000	10,993,058
U.S. Treasury Bills		0.38%		05/26/2022		30,000	29,972,767
U.S. Treasury Bills		0.29%		05/31/2022		20,000	19,985,781
U.S. Treasury Bills		0.09%		06/02/2022		54,000	53,953,570
U.S. Treasury Bills		0.34%		06/07/2022		15,000	14,986,117
U.S. Treasury Bills		0.07%		06/16/2022		3,000	2,999,376
U.S. Treasury Bills		0.55%		06/21/2022		16,000	15,972,622
U.S. Treasury Bills		0.57%		06/28/2022		29,000	28,945,359
U.S. Treasury Bills		0.38%		07/07/2022		7,000	6,990,505
U.S. Treasury Bills		0.71%		08/25/2022		12,000	11,958,110
							1,173,066,987

U.S. Treasury Floating Rate Notes-17.06%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)		0.47%		04/30/2022		55,000	55,002,639
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		07/31/2022		22,000	22,000,544
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		10/31/2022		45,000	44,999,181
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)		0.41%		01/31/2023		11,000	11,001,688
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		04/30/2023		19,000	19,000,897

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

21 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Obligations Portfolio–(continued)


	Interest Rate			Maturity Date		Principal Amount (000)		Value

U.S. Treasury Floating Rate Notes-(continued)
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39	%		07/31/2023	$	17,500	$	17,500,602

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)		0.40	%		10/31/2023		30,000		30,000,861

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate -0.02%)^(b)		0.35	%		01/31/2024		8,000		7,997,358

									207,503,770

U.S. Treasury Notes-0.41%
U.S. Treasury Notes (Cost $5,036,995)		1.88	%		07/31/2022		5,000		5,036,995

TOTAL INVESTMENTS IN SECURITIES-113.88% (Cost $1,385,607,752)									1,385,607,752

OTHER ASSETS LESS LIABILITIES-(13.88)%									(168,891,225	)

NET ASSETS-100.00%								$	1,216,716,527

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7			8.3%

8-30			30.1

31-60			25.8

61-90			13.2

91-180			13.2

181+			9.4

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

22 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio


	Interest Rate			Maturity Date		Principal Amount (000)		Value
Municipal Obligations-99.97%

Alabama-3.24%
Mobile (County of), AL Industrial Development Authority (SSAB Alabama, Inc.); Series 2010 A, VRD RB (LOC - Swedbank AB)^(a)(b)(c)		0.28	%		07/01/2040		$5,500	$ 5,500,000

Arizona-3.20%
Casa Grande (City of), AZ Industrial Development Authority (Quail Gardens Apartments); Series 2001 A, Ref. VRD RB (CEP - FNMA)^(b)		0.20	%		06/15/2031		2,685	2,685,000
Sierra Vista (City of), AZ Industrial Development Authority (Mountain Steppes Apartments); Series 2001 A, Ref. VRD RB (CEP - FNMA)^(b)		0.20	%		06/15/2031		2,745	2,745,000
								5,430,000

California-1.47%
California (State of);
Series 2022 A-1, Commercial Paper Notes (LOC - Wells Fargo Bank N.A.)^(c)		0.17	%		03/01/2022		1,500	1,500,000
Series 2022 A-5, Commercial Paper Notes (LOC - U.S. Bank N.A.)^(c)		0.17	%		03/01/2022		1,000	1,000,000
								2,500,000

Delaware-2.47%
Delaware (State of) Economic Development Authority (Goodwill Industries of Delaware & Delaware County); Series 2006, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.20	%		09/01/2036		2,655	2,655,000
Delaware (State of) Economic Development Authority (YMCA of Delaware); Series 2007, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.21	%		05/01/2036		1,535	1,535,000
								4,190,000

District of Columbia-1.66%
District of Columbia (Medlantic/Helix); Series 1998 A, VRD RB (LOC - TD Bank N.A.)^(a)(b)(c)		0.19	%		08/15/2038		2,820	2,820,000

Florida-6.01%
Palm Beach (County of), FL (Henry Morrison Flagler Museum); Series 2003, VRD RB (LOC - Northern Trust Co. (The))^(b)(c)		0.25	%		11/01/2036		2,725	2,725,000
Palm Beach (County of), FL (The Raymond F. Kravis Center for the Performing Arts, Inc.); Series 2002, VRD RB (LOC - Northern Trust Co. (The))^(b)(c)		0.21	%		07/01/2032		2,400	2,400,000
Sarasota (County of), FL Public Hospital District (Sarasota Memorial Hospital); Series 2008 B, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(b)(c)		0.20	%		07/01/2037		5,075	5,075,000
								10,200,000

Georgia-1.13%
Atlanta (City of), GA Georgia Development Authority (Perkins + Will, Inc.); Series 2010, VRD RB (LOC - BMO Harris Bank N.A.)^(a)(b)(c)		0.20	%		11/01/2030		1,920	1,920,000

Illinois-10.32%
Illinois (State of) Educational Facilities Authority (The Adler Planetarium); Series 1997, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.20	%		04/01/2031		5,000	5,000,000
Illinois (State of) Finance Authority (Northwestern University); Subseries 2008 B, VRD RB^(b)		0.20	%		12/01/2046		5,730	5,730,000
Illinois (State of) Finance Authority (Uhlich Children’s Home); Series 2002, VRD IDR (LOC - U.S. Bank N.A.)^(b)(c)		0.20	%		10/01/2033		2,625	2,625,000
Illinois (State of) Housing Development Authority (Foxview I & II Apartments); Series 2008, VRD MFH RB (LOC - FHLMC)^(b)(c)		0.13	%		01/01/2041		4,160	4,160,000
								17,515,000

Indiana-1.83%
Huntington (City of), IN (Huntington University); Series 2007, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(b)(c)		0.25	%		08/01/2037		3,105	3,105,000

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

23 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
Iowa-1.65%
Iowa (State of) Finance Authority (CJ Bio America); Series 2021, Ref. VRD RB^(a)(b)(d)		0.24%		12/01/2041		$2,805	$ 2,805,000

Louisiana-3.64%
Louisiana (State of) Offshore Terminal Authority Deepwater Port (Loop LLC); Series 2013 B, Ref. VRD RB (LOC - JPMorgan Chase Bank N.A.)^(b)(c)		0.23%		09/01/2033		1,000	1,000,000
Louisiana (State of) Public Facilities Authority (CHRISTUS Health); Series 2009 B-3, Ref. VRD RB (LOC - Bank of New York Mellon (The))^(b)(c)		0.21%		07/01/2047		4,085	4,085,000
Series 2009 B-1, Ref. VRD RB (LOC - Bank of New York Mellon (The))^(b)(c)		0.21%		07/01/2047		1,100	1,100,000
							6,185,000

Maryland-0.59%
Montgomery (County of), MD; Series 2010 B, Commercial Paper Notes		0.10%		03/01/2022		1,000	1,000,000

Massachusetts-4.71%
Massachusetts (State of) Department of Transportation; Series 2010 A-1, VRD Metropolitan Highway System RB (LOC - Citibank N.A.)^(b)(c)		0.16%		01/01/2037		3,000	3,000,000
Massachusetts (State of) Health & Educational Facilities Authority; Series 2021 EE, Commercial Paper Notes		0.09%		03/01/2022		5,000	5,000,000
							8,000,000

Michigan-3.15%
Kent (County of), MI Hospital Finance Authority (Spectrum Health System); Series 2008 C, Ref. VRD RB (LOC - Bank of New York Mellon (The))^(b)(c)		0.21%		01/15/2026		820	820,000
Michigan State University Board of Trustees;
Series 2000 A-1, VRD RB^(b)		0.21%		08/15/2030		3,620	3,620,000
Series 2000 A-2, VRD RB^(b)		0.21%		08/15/2030		910	910,000
							5,350,000

Minnesota-5.82%
Burnsville (City of), MN (Bridgeway Apartments L.P.); Series 2003, Ref. VRD RB (CEP - FNMA)^(b)		0.28%		10/15/2033		1,175	1,175,000
Oak Park Heights (City of), MN (Boutwells Landing); Series 2005, Ref. VRD RB (CEP - FHLMC)^(b)		0.19%		11/01/2035		3,700	3,700,000
St. Paul (City of), MN Housing & Redevelopment Authority (Highland Ridge, L.P.); Series 2003, Ref. VRD RB (CEP - FHLMC)^(b)		0.19%		10/01/2033		1,000	1,000,000
University of Minnesota; Series 2022 H, Commercial Paper Notes		0.26%		03/17/2022		4,000	4,000,000
							9,875,000

Mississippi-1.95%
Mississippi Business Finance Corp. (Chevron U.S.A., Inc.);
Series 2010 C, VRD IDR^(b)		0.22%		12/01/2030		585	585,000
Series 2010 E, VRD IDR^(b)		0.22%		12/01/2030		2,730	2,730,000
							3,315,000

Missouri-1.59%
Bridgeton (City of), MO Industrial Development Authority (Stolze Printing); Series 2010, VRD RB (LOC - FHLB of Chicago)^(b)(c)		0.20%		11/01/2037		1,320	1,320,000
Missouri (State of) Development Finance Board (Kopytek Printing); Series 2010, VRD IDR (LOC - FHLB of Chicago)^(b)(c)		0.35%		08/01/2038		1,385	1,385,000
							2,705,000

New Jersey-2.94%
New Jersey (State of) Health Care Facilities Financing Authority (Virtua Health); Series 2009 D, VRD RB (LOC - TD Bank N.A.)^(a)(b)(c)		0.18%		07/01/2043		5,000	5,000,000

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

24 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio—(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
New York-4.08%
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.19%		11/15/2046		$3,320	$ 3,320,000
New York (State of) Energy Research & Development Authority (Consolidated Edison Co. of New York, Inc.); Subseries 2005 A-2, VRD RB (LOC - Mizuho Bank Ltd.)^(a)(b)(c)		0.19%		05/01/2039		3,600	3,600,000
							6,920,000

North Carolina-0.76%
North Carolina (State of) Educational Facilities Finance Agency (Duke University); Series 1992 A, VRD RB^(b)		0.15%		06/01/2027		1,285	1,285,000

Ohio-1.67%
Lorain (County of), OH Port Authority (St. Ignatius High School); Series 2008, VRD RB (LOC - U.S. Bank N.A.)^(b)(c)		0.20%		08/02/2038		2,835	2,835,000

Pennsylvania-1.55%
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.19%		06/01/2037		1,320	1,320,000
Lebanon (County of), PA Health Facilities Authority (E.C.C. Retirement Village); Series 2000, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.20%		10/15/2025		310	310,000
Philadelphia (City of), PA; Series 2022 A, Commercial Paper Notes^(a)		0.35%		03/24/2022		1,000	1,000,000
							2,630,000

Rhode Island-2.65%
Rhode Island Health & Educational Building Corp. (Brown University); Series 2003 B, VRD RB^(b)		0.21%		09/01/2043		4,500	4,500,000

Texas-19.92%
Board of Regents of the University of Texas System; Series 2008 B, VRD RB^(b)		0.17%		08/01/2025		1,615	1,615,000
Garland (City of), TX; Series 2021, Commercial Paper Notes		0.13%		04/05/2022		5,000	5,000,000
Harris (County of), TX Hospital District; Series 2010, Ref. VRD RB (LOC - JPMorgan Chase Bank N.A.)^(b)(c)		0.21%		02/15/2042		5,700	5,700,000
Houston (City of), TX; Series 2018 E-2, GO Commercial Paper Notes		0.22%		03/16/2022		4,000	4,000,000
Houston (City of), TX (Combined Utility System); Series 2004 B-3, Ref. VRD RB (LOC - Sumitomo Mitsui Banking Corp.)^(a)(b)(c)		0.21%		05/15/2034		5,250	5,250,000
San Gabriel Health Facilities Development Corp. (YMCA of Greater Williamson County); Series 2005, VRD RB (LOC - JPMorgan Chase Bank N.A.)^(b)(c)		0.24%		04/01/2026		1,890	1,890,000
Texas (State of) Department of Housing & Community Affairs (Costa Mariposa Apartments); Series 2009, VRD RB (CEP - FHLMC)^(b)		0.26%		05/01/2042		2,375	2,375,000
Texas A&M University System Board of Regents; Series 2021 B, Commercial Paper Notes		0.14%		06/02/2022		5,000	5,000,000
University of Texas Board of Regents; Series 2018, Revenue Financing System Commercial Paper Notes		0.29%		04/06/2022		3,000	3,000,000
							33,830,000

Virginia-2.53%
Norfolk (City of), VA; Series 2007, VRD GO Bonds^(b)		0.21%		08/01/2037		4,300	4,300,000

Washington-3.25%
Washington (State of) Housing Finance Commission (Kitts Corner Apartments); Series 2014, VRD RB (LOC - FHLB of San Francisco)^(b)(c)		0.13%		09/01/2049		3,375	3,375,000
Washington (State of) Housing Finance Commission (Redmond Ridge Apartments); Series 2017, VRD RB (LOC - FHLB of San Francisco)^(b)(c)		0.13%		11/01/2047		2,145	2,145,000
							5,520,000

West Virginia-4.29%
Cabell (County of), WV (Provident Group - Marshall Properties LLC - Marshall University); Series 2010 A, VRD RB (LOC - Bank of America N.A.)^(b)(c)		0.21%		07/01/2039		845	845,000

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

25 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
West Virginia-(continued)
West Virginia (State of) Hospital Finance Authority (Cabell Huntington Hospital, Inc.); Series 2008 B, Ref. VRD RB (LOC - Branch Banking & Trust Co.)^(b)(c)		0.27%		01/01/2034		$6,445	$ 6,445,000
							7,290,000

Wisconsin-1.90%
Lima (Town of), WI (Sharon S. Richardson Community Hospice, Inc.); Series 2009, VRD RB (LOC - FHLB of Chicago)^(b)(c)		0.21%		10/01/2042		3,230	3,230,000
TOTAL INVESTMENTS IN SECURITIES^(e)(f)-99.97% (Cost $169,755,000)							169,755,000
OTHER ASSETS LESS LIABILITIES-0.03%							54,772
NET ASSETS-100.00%							$169,809,772

Investment Abbreviations:


CEP		- Credit Enhancement Provider
FHLB		- Federal Home Loan Bank
FHLMC		- Federal Home Loan Mortgage Corp.
FNMA		- Federal National Mortgage Association
GO		- General Obligation
IDR		- Industrial Development Revenue Bonds
LOC		- Letter of Credit
MFH		- Multi-Family Housing
RB		- Revenue Bonds
Ref.		- Refunding
VRD		- Variable Rate Demand

Notes to Schedule of Investments:

^(a)	The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: Canada:5.7%;Japan:5.2%;other countries less than 5% each: 5.5%.

^(b)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(c)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(d)

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 value of this security at February 28, 2022 represented 1.65% of the Fund’s Net Assets.

^(e)	Also represents cost for federal income tax purposes.

^(f)


Entities	Percentage
PNC Bank N.A.		8.3%
Federal Home Loan Banks		6.8
Federal Home Loan Mortgage Corporation		6.6
Wells Fargo Bank N.A.		5.7
JPMorgan Chase Bank, N.A.		5.1

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

26 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7		87.0%
8-30		5.3
31-60		4.7
61-90		0.0
91-180		3.0
181+		0.0

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

27 Short-Term Investments Trust

Statements of Assets and Liabilities

February 28, 2022

(Unaudited)


	Invesco Liquid Assets Portfolio				Invesco STIC Prime Portfolio				Invesco Treasury Portfolio				Invesco Government & Agency Portfolio			Invesco Treasury Obligations Portfolio				Invesco Tax-Free Cash Reserve Portfolio

Assets:

Investments in unaffiliated securities, at value		$	1,690,271,922			$	191,977,496			$	13,165,027,105			$	42,264,669,258		$	1,385,607,752			$	169,755,000


Repurchase agreements, at value and cost			550,898,981				84,326,230				9,643,911,550				21,680,938,904			-				-


Cash			-				-				-				-			37,752				-


Receivable for:

Fund shares sold			-				-				2,845				108,705			-				-


Interest			155,860				8,158				13,433,654				29,052,274			73,642				22,965


Fund expenses absorbed			106,833				33,665				1,417,208				2,190,429			109,348				87,930


Investment for trustee deferred compensation and retirement plans			3,524,447				951,741				2,115,902				963,666			102,725				329,541


Other assets			-				132,217				447,526				588,715			792				31,227


Total assets			2,244,958,043				277,429,507				22,826,355,790				63,978,511,951			1,385,932,011				170,226,663


Liabilities:

Payable for:

Investments purchased			29,986,825				13,993,951				898,693,915				2,846,428,808			168,883,059				-


Fund shares reacquired			-				-				12,000				24,638,227			-				-


Amount due custodian			-				-				1,574,127				1,508,529			-				-


Dividends			12,043				2,307				174,513				1,218,332			9,461				1,333


Accrued fees to affiliates			332,171				45,296				3,646,596				7,134,843			165,808				33,290


Accrued trustees’ and officers’ fees and benefits			5,730				3,681				29,867				69,304			4,476				3,395


Accrued operating expenses			28,399				5,900				282,157				288,795			35,540				30,140


Trustee deferred compensation and retirement plans			3,750,354				1,006,111				2,394,342				1,221,442			117,140				348,733


Total liabilities			34,115,522				15,057,246				906,807,517				2,882,508,280			169,215,484				416,891


Net assets applicable to shares outstanding		$	2,210,842,521			$	262,372,261			$	21,919,548,273			$	61,096,003,671		$	1,216,716,527			$	169,809,772


Net assets consist of:

Shares of beneficial interest		$	2,214,068,700			$	263,115,662			$	21,920,415,657			$	61,095,416,116		$	1,216,782,664			$	170,089,160


Distributable earnings (loss)			(3,226,179	)			(743,401	)			(867,384	)			587,555			(66,137	)			(279,388	)


		$	2,210,842,521			$	262,372,261			$	21,919,548,273			$	61,096,003,671		$	1,216,716,527			$	169,809,772


Net Assets:

Institutional Class		$	2,204,979,174			$	261,269,078			$	18,241,859,039			$	53,964,770,211		$	1,098,426,693			$	135,656,602


Private Investment Class		$	2,885,966			$	473,512			$	312,889,460			$	562,429,844		$	13,703,576			$	11,700,511


Personal Investment Class		$	10,246			$	92,856			$	379,824,634			$	15,716,834		$	10,077,798			$	1,333,813


Cash Management Class		$	2,385,218			$	428,281			$	476,970,117			$	956,426,056		$	78,410			$	4,202,044


Reserve Class		$	211,505			$	87,041			$	1,678,474,426			$	538,091,162		$	90,998,450			$	15,429,661


Resource Class		$	247,323			$	385			$	38,293,629			$	134,028,878		$	98,111			$	1,476,862


Corporate Class		$	23,129			$	21,108			$	279,646,266			$	1,018,276,963		$	3,333,489			$	10,279


CAVU Securities Class		$	99,960			$	-			$	511,590,702			$	3,906,263,723		$	-			$	-

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

28 Short-Term Investments Trust

Statements of Assets and Liabilities–(continued)

February 28, 2022

(Unaudited)


	Invesco Liquid Assets Portfolio			Invesco STIC Prime Portfolio			Invesco Treasury Portfolio			Invesco Government & Agency Portfolio			Invesco Treasury Obligations Portfolio			Invesco Tax-Free Cash Reserve Portfolio


Shares outstanding, no par value, unlimited number of shares authorized:

Institutional Class			2,205,019,784			261,262,354			18,240,410,505			53,964,110,943			1,098,435,692			135,636,048


Private Investment Class			2,886,030			473,500			312,866,402			562,417,907			13,703,762			11,698,732


Personal Investment Class			10,246			92,854			379,787,513			15,716,633			10,077,890			1,333,647


Cash Management Class			2,385,270			428,270			476,928,857			956,415,735			78,412			4,201,456


Reserve Class			211,509			87,039			1,678,353,435			538,081,580			90,998,347			15,427,388


Resource Class			247,328			385			38,290,367			134,025,688			98,112			1,476,639


Corporate Class			23,130			21,107			279,625,136			1,018,275,908			3,333,522			10,277


CAVU Securities Class			99,962			-			511,545,921			3,906,258,431			-			-


Net asset value, offering and redemption price per share for each class		$	1.0000		$	1.0000		$	1.00		$	1.00		$	1.00		$	1.00


Cost of Investments		$	2,241,779,487		$	276,300,889		$	22,808,938,655		$	63,945,608,162		$	1,385,607,752		$	169,755,000

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

29 Short-Term Investments Trust

Statements of Operations

For the six months ended February 28, 2022

(Unaudited)


	Invesco Liquid Assets Portfolio			Invesco STIC Prime Portfolio			Invesco Treasury Portfolio				Invesco Government & Agency Portfolio			Invesco Treasury Obligations Portfolio			Invesco Tax-Free Cash Reserve Portfolio

Investment income:

Interest		$	1,870,765		$	163,870		$	9,396,711			$	22,014,594		$	446,063		$	64,820


Expenses:

Advisory fees			1,538,049			194,005			16,592,349				27,022,435			701,350			156,141


Administrative services fees			461,582			57,036			4,949,534				11,947,185			221,111			34,579


Custodian fees			26,384			9,192			203,379				186,726			5,734			2,572

Distribution fees:

Private Investment Class			4,297			832			431,096				813,131			17,946			13,527


Personal Investment Class			27			253			868,352				29,956			18,366			3,039


Cash Management Class			1,037			196			192,510				360,118			60			1,764


Reserve Class			925			375			5,311,944				2,244,581			286,523			71,520


Resource Class			291			-			47,971				100,170			78			1,171


Corporate Class			4			3			39,942				129,084			549			2


Transfer agent fees			92,283			11,640			995,541				2,432,019			46,385			7,026


Trustees’ and officers’ fees and benefits			15,799			9,952			81,950				201,650			12,307			9,447


Registration and filing fees			53,276			41,241			472,941				393,620			69,312			51,606


Reports to shareholders			8,372			6,367			31,453				26,728			6,900			13,302


Professional services fees			27,007			21,757			80,198				137,188			24,164			21,099


Other			65,381			33,080			206,536				302,178			56,799			16,536


Total expenses			2,294,714			385,929			30,505,696				46,326,769			1,467,584			403,331


Less: Fees waived and expenses reimbursed			(547,540)			(235,281)			(22,239,477	)			(31,376,941)			(1,075,990)			(346,495)


Net expenses			1,747,174			150,648			8,266,219				14,949,828			391,594			56,836


Net investment income			123,591			13,222			1,130,492				7,064,766			54,469			7,984


Realized and unrealized gain (loss) from:

Net realized gain (loss) from unaffiliated investment securities			3,959			18			337,662				26,979			(17,701)			-


Change in net unrealized appreciation (depreciation) of unaffiliated investment securities			(771,504)			3,071			-				-			-			-


Net realized and unrealized gain (loss)			(767,545)			3,089			337,662				26,979			(17,701)			-


Net increase (decrease) in net assets resulting from operations		$	(643,954)		$	16,311		$	1,468,154			$	7,091,745		$	36,768		$	7,984

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

30 Short-Term Investments Trust

Statements of Changes in Net Assets

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Liquid Assets Portfolio						Invesco STIC Prime Portfolio

	February 28, 2022			August 31, 2021			February 28, 2022			August 31, 2021

Operations:
Net investment income	$	123,591		$	1,034,618		$	13,222		$	24,474

Net realized gain		3,959			2,613			18			552

Change in net unrealized appreciation (depreciation)		(771,504	)		(496,709	)		3,071			(2,800	)

Net increase (decrease) in net assets resulting from operations		(643,954	)		540,522			16,311			22,226


Distributions to shareholders from distributable earnings:
Institutional Class		(123,275	)		(1,033,839	)		(13,153	)		(24,275	)

Private Investment Class		(146	)		(318	)		(29	)		(92	)

Personal Investment Class		(2	)		(4	)		(6	)		(31	)

Cash Management Class		(133	)		(359	)		(25	)		(52	)

Reserve Class		(12	)		(29	)		(5	)		(11	)

Resource Class		(15	)		(40	)		(2	)		(9	)

Corporate Class		(2	)		(13	)		(2	)		(4	)

CAVU Securities Class		(6	)		(16	)		-			-

Total distributions from distributable earnings		(123,591	)		(1,034,618	)		(13,222	)		(24,474	)


Share transactions-net:
Institutional Class		(150,618,800	)		(201,574,311	)		39,548,244			(99,033,118	)

Private Investment Class		(5,137	)		(648,893	)		(131,663	)		(671,036	)

Personal Investment Class		-			-			4			(302,491	)

Cash Management Class		(535,901	)		(24,434	)		(67,764	)		(7,793	)

Reserve Class		(4,019	)		(62,582	)		4			(18,402	)

Resource Class		(114,813	)		(3,337	)		-			(122,205	)

Corporate Class		1			(15,522	)		1			4

CAVU Securities Class		-			100,002			-			-

Net increase (decrease) in net assets resulting from share transactions		(151,278,669	)		(202,229,077	)		39,348,826			(100,155,041	)

Net increase (decrease) in net assets		(152,046,214	)		(202,723,173	)		39,351,915			(100,157,289	)


Net assets:
Beginning of period		2,362,888,735			2,565,611,908			223,020,346			323,177,635

End of period	$	2,210,842,521		$	2,362,888,735		$	262,372,261		$	223,020,346

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

31 Short-Term Investments Trust

Statements of Changes in Net Assets–(continued)

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Treasury Portfolio								Invesco Government & Agency Portfolio

	February 28, 2022				August 31, 2021				February 28, 2022				August 31, 2021

Operations:
Net investment income		$	1,130,492			$	2,248,785			$	7,064,766			$	9,964,680

Net realized gain			337,662				30,818				26,979				542,485

Net increase in net assets resulting from operations			1,468,154				2,279,603				7,091,745				10,507,165


Distributions to shareholders from distributable earnings:
Institutional Class			(945,945	)			(2,005,555	)			(6,302,258	)			(9,402,663	)

Private Investment Class			(14,688	)			(35,458	)			(70,237	)			(120,583	)

Personal Investment Class			(16,136	)			(28,813	)			(1,412	)			(2,025	)

Cash Management Class			(24,596	)			(42,921	)			(116,654	)			(128,425	)

Reserve Class			(62,399	)			(62,101	)			(66,860	)			(105,814	)

Resource Class			(3,065	)			(18,705	)			(16,225	)			(32,727	)

Corporate Class			(13,608	)			(41,758	)			(111,510	)			(52,287	)

CAVU Securities Class			(50,055	)			(13,474	)			(379,610	)			(120,156	)

Total distributions from distributable earnings			(1,130,492	)			(2,248,785	)			(7,064,766	)			(9,964,680	)


Share transactions-net:
Institutional Class			1,148,575,944				(2,122,806,791	)			4,500,540,880				19,204,558,855

Private Investment Class			9,041,045				(118,976,592	)			56,459,453				(76,121,055	)

Personal Investment Class			114,699,804				(16,713,545	)			6,356,607				(4,169,839	)

Cash Management Class			24,738,287				80,255,547				208,470,000				316,471,282

Reserve Class			810,639,856				286,064,751				129,590,895				7,054,623

Resource Class			(14,916,921	)			(582,467,587	)			16,126,918				(25,248,184	)

Corporate Class			13,096,491				(867,085,822	)			(63,819,670	)			1,050,827,823

CAVU Securities Class			(35,495,020	)			547,040,941				2,464,408,750				1,441,849,681

Net increase (decrease) in net assets resulting from share transactions			2,070,379,486				(2,794,689,098	)			7,318,133,833				21,915,223,186

Net increase (decrease) in net assets			2,070,717,148				(2,794,658,280	)			7,318,160,812				21,915,765,671


Net assets:
Beginning of period			19,848,831,125				22,643,489,405				53,777,842,859				31,862,077,188

End of period		$	21,919,548,273			$	19,848,831,125			$	61,096,003,671			$	53,777,842,859

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

32 Short-Term Investments Trust

Statements of Changes in Net Assets–(continued)

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Treasury Obligations Portfolio						Invesco Tax-Free Cash Reserve Portfolio

	February 28, 2022			August 31, 2021			February 28, 2022			August 31, 2021

Operations:
Net investment income	$	54,469		$	133,186		$	7,984		$	17,194

Net realized gain (loss)		(17,701	)		47,304			-			-

Net increase in net assets resulting from operations		36,768			180,490			7,984			17,194


Distributions to shareholders from distributable earnings:
Institutional Class		(49,822	)		(123,225	)		(6,227	)		(12,978	)

Private Investment Class		(735	)		(1,559	)		(554	)		(1,039	)

Personal Investment Class		(342	)		(128	)		(58	)		(195	)

Cash Management Class		(9	)		(29	)		(226	)		(490	)

Reserve Class		(3,367	)		(7,454	)		(841	)		(2,280	)

Resource Class		(6	)		(17	)		(76	)		(208	)

Corporate Class		(188	)		(774	)		(2	)		(4	)

Total distributions from distributable earnings		(54,469	)		(133,186	)		(7,984	)		(17,194	)


Share transactions-net:
Institutional Class		35,131,360			(306,942,642	)		17,389,193			(32,730,801	)

Private Investment Class		(941,007	)		220,502			2,145,705			(580,210	)

Personal Investment Class		6,265,217			3,070,903			(343,131	)		(1,906,614	)

Cash Management Class		(174,584	)		(87,640	)		(394,386	)		(893,331	)

Reserve Class		16,504,842			19,907,010			(795,898	)		(10,596,705	)

Resource Class		5			(51,953	)		70			(1,527,247	)

Corporate Class		(1,699,796	)		(5,409,097	)		-			-

Net increase (decrease) in net assets resulting from share transactions		55,086,037			(289,292,917	)		18,001,553			(48,234,908	)

Net increase (decrease) in net assets		55,068,336			(289,245,613	)		18,001,553			(48,234,908	)


Net assets:
Beginning of period		1,161,648,191			1,450,893,804			151,808,219			200,043,127

End of period	$	1,216,716,527		$	1,161,648,191		$	169,809,772		$	151,808,219

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

33 Short-Term Investments Trust

Schedule of Investments—(continued)

Financial Highlights

(Unaudited)

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

Corporate Class


	Net asset value, beginning of period		Net investment income^(a)		Net gains (losses) on securities (both realized and unrealized)				Total from investment operations			Dividends from net investment income				Distributions from net realized gains				Total distributions				Net asset value, end of period			Total return^(b)			Net assets, end of period (000’s omitted)			Ratio of expenses to average net assets with fee waivers and/or expense reimbursements			Ratio of expenses to average net assets without fee waivers and/or expense reimbursements			Ratio of net investment income to average net assets
Invesco Liquid Assets Portfolio
Six months ended 02/28/22		$1.0004		$0.0001		$	(0.0004	)		$(0.0003	)		$	(0.0001	)		$	-			$	(0.0001	)		$	1.0000		(0.03	)%		$	23		0.17	%^(c)		0.25	%^(c)		0.01	%^(c)
Year ended 08/31/21		1.0006		0.0003			(0.0002	)		0.0001				(0.0003	)			-				(0.0003	)			1.0004		0.01				23		0.19			0.25			0.03
Year ended 08/31/20		1.0004		0.0123			(0.0006	)		0.0117				(0.0115	)			-				(0.0115	)			1.0006		1.17				39		0.21			0.25			1.23
Year ended 08/31/19		1.0004		0.0234			(0.0000	)		0.0234				(0.0234	)			-				(0.0234	)			1.0004		2.36				327		0.21			0.25			2.34
Year ended 08/31/18		1.0002		0.0170			(0.0011	)		0.0159				(0.0157	)			-				(0.0157	)			1.0004		1.60				1,926		0.21			0.26			1.70
Year ended 08/31/17		1.00		0.0048			0.0036			0.0084				(0.0077	)			(0.0005	)			(0.0082	)			1.0002		0.81				9,483		0.21			0.29			0.48
Invesco STIC Prime Portfolio
Six months ended 02/28/22		1.0000		0.0001			0.0000			0.0001				(0.0001	)			-				(0.0001	)			1.0000		0.01				21		0.12	^(c)		0.33	^(c)		0.01	^(c)
Year ended 08/31/21		1.0000		0.0001			(0.0000	)		0.0001				(0.0001	)			-				(0.0001	)			1.0000		0.01				21		0.13			0.33			0.01
Year ended 08/31/20		1.0001		0.0114			(0.0013	)		0.0101				(0.0102	)			-				(0.0102	)			1.0000		1.03				21		0.21			0.29			1.13
Year ended 08/31/19		1.0001		0.0224			0.0000			0.0224				(0.0224	)			-				(0.0224	)			1.0001		2.26				21		0.21			0.28			2.23
Year ended 08/31/18		1.0000		0.0152			(0.0002	)		0.0150				(0.0149	)			-				(0.0149	)			1.0001		1.51				20		0.21			0.30			1.52
Year ended 08/31/17		1.00		0.0059			0.0007			0.0066				(0.0066	)			-				(0.0066	)			1.0000		0.66				20		0.21			0.30			0.59
Invesco Treasury Portfolio
Six months ended 02/28/22		1.00		0.00			0.00			0.00				(0.00	)			-				(0.00	)			1.00		0.01				279,646		0.07	^(c)		0.24	^(c)		0.01	^(c)
Year ended 08/31/21		1.00		0.00			0.00			0.00				(0.00	)			-				(0.00	)			1.00		0.01				266,548		0.10			0.24			0.01
Year ended 08/31/20		1.00		0.01			0.00			0.01				(0.01	)			(0.00	)			(0.01	)			1.00		0.88				1,133,683		0.21			0.24			0.83
Year ended 08/31/19		1.00		0.02			0.00			0.02				(0.02	)			-				(0.02	)			1.00		2.17				429,129		0.21			0.24			2.15
Year ended 08/31/18		1.00		0.01			0.00			0.01				(0.01	)			-				(0.01	)			1.00		1.34				467,373		0.21			0.23			1.34
Year ended 08/31/17		1.00		0.00			0.00			0.00				(0.00	)			-				(0.00	)			1.00		0.49				607,827		0.21			0.23			0.49
Invesco Government & Agency Portfolio
Six months ended 02/28/22		1.00		0.00			0.00			0.00				(0.00	)			-				(0.00	)			1.00		0.01				1,018,277		0.06	^(c)		0.19	^(c)		0.02	^(c)
Year ended 08/31/21		1.00		0.00			0.00			0.00				(0.00	)			-				(0.00	)			1.00		0.02				1,082,096		0.08			0.19			0.02
Year ended 08/31/20		1.00		0.01			(0.00	)		0.01				(0.01	)			(0.00	)			(0.01	)			1.00		0.92				31,268		0.18			0.18			0.82
Year ended 08/31/19		1.00		0.02			0.00			0.02				(0.02	)			-				(0.02	)			1.00		2.19				40,349		0.19			0.19			2.17
Year ended 08/31/18		1.00		0.01			0.00			0.01				(0.01	)			-				(0.01	)			1.00		1.35				146,277		0.18			0.18			1.32
Year ended 08/31/17		1.00		0.01			(0.00	)		0.01				(0.01	)			-				(0.01	)			1.00		0.53				324,437		0.18			0.18			0.55
Invesco Treasury Obligations Portfolio
Six months ended 02/28/22		1.00		0.00			(0.00	)		0.00				(0.00	)			-				(0.00	)			1.00		0.01				3,333		0.08	^(c)		0.25	^(c)		0.01	^(c)
Year ended 08/31/21		1.00		0.00			0.00			0.00				(0.00	)			-				(0.00	)			1.00		0.01				5,033		0.10			0.24			0.01
Year ended 08/31/20		1.00		0.01			(0.00	)		0.01				(0.01	)			-				(0.01	)			1.00		0.91				10,442		0.21			0.23			0.81
Year ended 08/31/19		1.00		0.02			0.00			0.02				(0.02	)			-				(0.02	)			1.00		2.14				10		0.21			0.24			2.12
Year ended 08/31/18		1.00		0.01			0.00			0.01				(0.01	)			-				(0.01	)			1.00		1.31				10		0.21			0.24			1.31
Year ended 08/31/17		1.00		0.00			(0.00	)		0.00				(0.00	)			-				(0.00	)			1.00		0.41				10		0.21			0.25			0.45
Invesco Tax-Free Cash Reserve Portfolio
Six months ended 02/28/22		1.00		0.00			-			0.00				(0.00	)			-				(0.00	)			1.00		0.01				10		0.07	^(c)		0.44	^(c)		0.04	^(c)
Year ended 08/31/21		1.00		0.00			-			0.00				(0.00	)			-				(0.00	)			1.00		0.01				10		0.07			0.43			0.01
Year ended 08/31/20		1.00		0.01			-			0.01				(0.01	)			-				(0.01	)			1.00		0.74				10		0.20			0.37			0.75
Year ended 08/31/19		1.00		0.01			-			0.01				(0.01	)			-				(0.01	)			1.00		1.35				10		0.23			0.38			1.35
Year ended 08/31/18		1.00		0.01			(0.00	)		0.01				(0.01	)			-				(0.01	)			1.00		0.97				10		0.23			0.41			0.98
Year ended 08/31/17		1.00		0.01			(0.00	)		0.01				(0.01	)			-				(0.01	)			1.00		0.54				0		0.23			0.40			0.53

^(a)	Calculated using average shares outstanding.

^(b)	Includes adjustments in accordance with accounting principles generally accepted in the United States of America and is not annualized for periods less than one year.

^(c)	Annualized.

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

34 Short-Term Investments Trust

Notes to Financial Statements

February 28, 2022

(Unaudited)

NOTE 1–Significant Accounting Policies

Invesco Liquid Assets Portfolio determines its NAV per share multiple times each day.

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

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.

B.	Securities Transactions and Investment Income – Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is

35 Short-Term Investments Trust

recorded on the accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.

D.	Distributions - It is the policy of the Funds to declare dividends from net investment income daily and pay dividends on the first business day of the following month. Each Fund generally distributes net realized capital gain (including net short-term capital gain), if any, annually.

36 Short-Term Investments Trust

There is some risk that a portion or all of the interest received from certain tax-free municipal securities could become taxable as a result of determinations by the Internal Revenue Service.

NOTE 2–Advisory Fees and Other Fees Paid to Affiliates


	First $250 million	Next $250 million	Over $500 million

Invesco Liquid Assets Portfolio	0.15%	0.15%	0.15%

Invesco STIC Prime Portfolio	0.15%	0.15%	0.15%

Invesco Treasury Portfolio	0.15%	0.15%	0.15%

Invesco Government & Agency Portfolio	0.10%	0.10%	0.10%

Invesco Treasury Obligations Portfolio	0.20%	0.15%	0.10%

Invesco Tax-Free Cash Reserve Portfolio	0.20%	0.20%	0.20%

For the six months ended February 28, 2022, the management fee incurred for each Fund was equivalent to the annual effective rate of each Fund’s average daily net assets, as shown below:


Invesco Liquid Assets Portfolio			0.15%

Invesco STIC Prime Portfolio			0.15%

Invesco Treasury Portfolio			0.15%

Invesco Government & Agency Portfolio			0.10%

Invesco Treasury Obligations Portfolio			0.14%

Invesco Tax-Free Cash Reserve Portfolio			0.20%

37 Short-Term Investments Trust


	Institutional Class	Private Investment Class	Personal Investment Class	Cash Management Class	Reserve Class	Resource Class	Corporate Class	CAVU Securities Class

Invesco Liquid Assets Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.38%	0.21%		0.18%

Invesco STIC Prime Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.34%	0.21%		-

Invesco Treasury Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.34%	0.21%		0.18%

Invesco Government & Agency Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.34%	0.21%		0.18%

Invesco Treasury Obligations Portfolio	0.18%	0.43%	0.73%	0.26%	1.05%	0.34%	0.21%		-

Invesco Tax-Free Cash Reserve Portfolio	0.20%	0.45%	0.75%	0.28%	1.07%	0.36%	0.23%		-

For the six months ended February 28, 2022, the Adviser waived advisory fees and/or reimbursed Fund expenses, as shown below:


	Expense Limitation

Invesco Liquid Assets Portfolio	$	442,476

Invesco STIC Prime Portfolio		151,463

Invesco Treasury Portfolio		3,703,090

Invesco Government & Agency Portfolio		-

Invesco Treasury Obligations Portfolio		216,359

Invesco Tax-Free Cash Reserve Portfolio		156,166

Voluntary fee waivers for the six months ended February 28, 2022 are shown below:


	Fund Level		Private Investment Class		Personal Investment Class		Cash Management Class		Reserve Class		Resource Class		Corporate Class

Invesco Liquid Assets Portfolio		$ 98,537		$ 4,270		$ 27		$ 1,014		$ 923		$ 290		$ 3

Invesco STIC Prime Portfolio		82,159		832		253		195		375		-		4

Invesco Treasury Portfolio		11,644,572		431,096		868,352		192,510		5,311,944		47,971		39,942

Invesco Government & Agency Portfolio		27,703,436		812,520		29,939		359,090		2,243,978		100,018		127,960

Invesco Treasury Obligations Portfolio		536,300		17,924		18,350		60		286,375		78		544

Invesco Tax-Free Cash Reserve Portfolio		99,306		13,526		3,039		1,765		71,520		1,171		2

38 Short-Term Investments Trust


	Private Investment Class	Personal Investment Class	Cash Management Class	Reserve Class	Resource Class	Corporate Class
Invesco Liquid Assets Portfolio	0.30%	0.55%	0.08%	0.87%	0.20%	0.03%
Invesco STIC Prime Portfolio	0.30%	0.55%	0.08%	0.87%	0.16%	0.03%
Invesco Treasury Portfolio	0.30%	0.55%	0.08%	0.87%	0.16%	0.03%
Invesco Government & Agency Portfolio	0.30%	0.55%	0.08%	0.87%	0.16%	0.03%
Invesco Treasury Obligations Portfolio	0.25%	0.55%	0.08%	0.87%	0.16%	0.03%
Invesco Tax-Free Cash Reserve Portfolio	0.25%	0.55%	0.08%	0.87%	0.16%	0.03%

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

NOTE 3–Additional Valuation Information

Level 1 –

Prices are determined using quoted prices in an active market for identical assets.

Level 2 –

Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.

Level 3 –

Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect each Fund’s own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

NOTE 4–Security Transactions with Affiliated Funds


	Securities Purchases		Securities Sales		Net Realized Gains

Invesco Liquid Assets Portfolio		$22,055,624		$16,400,013	$-

Invesco STIC Prime Portfolio		8,610,216		8,200,189	-

Invesco Tax-Free Cash Reserve Portfolio		91,949,282		79,264,665	-

NOTE 5–Trustees’ and Officers’ Fees and Benefits

Trustees’ and Officers’ Fees and Benefits include amounts accrued by each Fund to pay remuneration to certain Trustees and Officers of such Fund. Trustees have the option to defer compensation payable by the Funds, and Trustees’ and Officers’ Fees and Benefits also include amounts accrued by each Fund to fund such deferred compensation amounts. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested. Finally, certain current Trustees were eligible to participate in a retirement plan that provided for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Funds may have certain former Trustees who also participate in a retirement plan and receive benefits under such plan. Trustees’ and Officers’ Fees and Benefits include amounts accrued by each Fund to fund such retirement benefits. Obligations under the deferred compensation and retirement plans represent unsecured claims against the general assets of the Funds.

39 Short-Term Investments Trust

NOTE 6–Cash Balances

The Funds are permitted to temporarily overdraft or leave balances in their accounts with BNY Mellon, the custodian bank. Such balances, if any at period-end, are shown in the Statements of Assets and Liabilities under the payable caption Amount due custodian. To compensate BNY Mellon or the Funds for such activity, the Funds may either (1) pay to or receive from BNY Mellon compensation at a rate agreed upon by BNY Mellon and Invesco, not to exceed the contractually agreed upon rate; or (2) leave funds or overdraft funds as a compensating balance in the account so BNY Mellon or the Funds can be compensated for use of funds.

NOTE 7–Tax Information

The Funds had a capital loss carryforward as of August 31, 2021, as follows:


Fund	Not Subject to Expiration			Total*
Invesco Liquid Assets Portfolio		$	13,010		$	13,010
Invesco Treasury Obligations Portfolio			13,241			13,241
Invesco Tax-Free Cash Reserve Portfolio			19,092			19,092

* Capital loss carryforwards are 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 cost and the net unrealized appreciation (depreciation) of investments for tax purposes are as follows:


	At February 28, 2022
	Federal Tax Cost*			Unrealized Appreciation			Unrealized (Depreciation)				Net Unrealized Appreciation (Depreciation)
Invesco Liquid Assets Portfolio		$	2,241,779,487		$	23,265		$	(631,849	)		$	(608,584	)
Invesco STIC Prime Portfolio			276,300,889			2,906			(69	)			2,837
Invesco Treasury Portfolio			22,808,970,667			-			(32,012	)			(32,012	)
Invesco Government & Agency Portfolio			63,945,609,329			-			(1,167	)			(1,167	)
Invesco Treasury Obligations Portfolio			1,385,630,403			-			(22,651	)			(22,651	)

NOTE 9–Share Information

Invesco Liquid Assets Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)				Year ended August 31, 2021
	Shares		Amount		Shares		Amount

Sold:
Institutional Class		7,928,057,646	$	7,929,890,259		17,486,805,323	$	17,494,025,296

Private Investment Class		1		1		371,715		371,900

Cash Management Class		-		-		6,058		6,061

Reserve Class		7,065		7,068		79,579		79,611

Corporate Class		-		-		1,001		1,001

CAVU Securities Class^(b)		-		-		99,962		100,002

40 Short-Term Investments Trust

NOTE 9–Share Information–(continued)


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount


Issued as reinvestment of dividends:
Institutional Class		3,067		$	3,067			182,613		$	182,698

Private Investment Class		92			92			207			207

Cash Management Class		133			133			359			359

Reserve Class		11			11			28			28

Resource Class		15			15			37			37

Corporate Class		2			2			13			13


Reacquired:
Institutional Class		(8,078,548,249	)		(8,080,512,126	)		(17,688,475,913	)		(17,695,782,305	)

Private Investment Class		(5,228	)		(5,230	)		(1,020,552	)		(1,021,000	)

Cash Management Class		(535,874	)		(536,034	)		(30,840	)		(30,854	)

Reserve Class		(11,095	)		(11,098	)		(142,165	)		(142,221	)

Resource Class		(114,793	)		(114,828	)		(3,373	)		(3,374	)

Corporate Class		(1	)		(1	)		(16,529	)		(16,536	)

Net increase (decrease) in share activity		(151,147,208	)	$	(151,278,669	)		(202,142,477	)	$	(202,229,077	)

^(a)	59% of the outstanding shares of the Fund are owned by the Adviser or an affiliate of the Adviser.

^(b)	Commencement date of December 18, 2020.

41 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco STIC Prime Portfolio


				Summary of Share Activity

	Six months ended						Year ended
	February 28, 2022^(a)						August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		705,814,165		$	705,814,165			1,439,605,312		$	1,439,605,312

Private Investment Class		9,001			9,001			17,500			17,500

Personal Investment Class		23			23			-			-

Cash Management Class		-			-			7,472			7,472

Reserve Class		1			1			4			4

Corporate Class		-			-			1,000			1,000


Issued as reinvestment of dividends:
Institutional Class		6,536			6,536			14,063			14,063

Private Investment Class		29			29			91			91

Personal Investment Class		4			4			27			27

Cash Management Class		7			7			15			15

Reserve Class		4			4			7			7

Resource Class		-			-			7			7

Corporate Class		1			1			4			4


Reacquired:
Institutional Class		(666,272,457	)		(666,272,457	)		(1,538,652,493	)		(1,538,652,493	)

Private Investment Class		(140,693	)		(140,693	)		(688,627	)		(688,627	)

Personal Investment Class		(23	)		(23	)		(302,518	)		(302,518	)

Cash Management Class		(67,771	)		(67,771	)		(15,280	)		(15,280	)

Reserve Class		(1	)		(1	)		(18,413	)		(18,413	)

Resource Class		-			-			(122,212	)		(122,212	)

Corporate Class		-			-			(1,000	)		(1,000	)

Net increase (decrease) in share activity		39,348,826		$	39,348,826			(100,155,041	)	$	(100,155,041	)

^(a)

42 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Treasury Portfolio


				Summary of Share Activity

	Six months ended						Year ended
	February 28, 2022^(a)						August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		63,116,124,261		$	63,116,124,261			209,389,908,080		$	209,389,908,080

Private Investment Class		436,581,760			436,581,760			564,708,648			564,708,648

Personal Investment Class		1,082,049,227			1,082,049,227			1,460,181,973			1,460,181,973

Cash Management Class		868,464,400			868,464,400			834,202,437			834,202,437

Reserve Class		1,633,245,975			1,633,245,975			2,267,218,779			2,267,218,779

Resource Class		96,775,732			96,775,732			271,542,723			271,542,723

Corporate Class		1,534,950,883			1,534,950,883			4,259,846,179			4,259,846,179

CAVU Securities Class^(b)		6,259,349,230			6,259,349,230			1,619,862,326			1,619,862,326


Issued as reinvestment of dividends:
Institutional Class		232,641			232,641			497,496			497,496

Private Investment Class		5,404			5,404			11,961			11,961

Personal Investment Class		14,389			14,389			28,558			28,558

Cash Management Class		23,399			23,399			39,490			39,490

Reserve Class		55,622			55,622			56,643			56,643

Resource Class		3,065			3,065			4,380			4,380

Corporate Class		5,818			5,818			26,745			26,745

CAVU Securities Class		175			175			-			-


Reacquired:
Institutional Class		(61,967,780,958	)		(61,967,780,958	)		(211,513,212,367	)		(211,513,212,367	)

Private Investment Class		(427,546,119	)		(427,546,119	)		(683,697,201	)		(683,697,201	)

Personal Investment Class		(967,363,812	)		(967,363,812	)		(1,476,924,076	)		(1,476,924,076	)

Cash Management Class		(843,749,512	)		(843,749,512	)		(753,986,380	)		(753,986,380	)

Reserve Class		(822,661,741	)		(822,661,741	)		(1,981,210,671	)		(1,981,210,671	)

Resource Class		(111,695,718	)		(111,695,718	)		(854,014,690	)		(854,014,690	)

Corporate Class		(1,521,860,210	)		(1,521,860,210	)		(5,126,958,746	)		(5,126,958,746	)

CAVU Securities Class		(6,294,844,425	)		(6,294,844,425	)		(1,072,821,385	)		(1,072,821,385	)

Net increase (decrease) in share activity		2,070,379,486		$	2,070,379,486			(2,794,689,098	)	$	(2,794,689,098	)

^(a)

^(b)	Commencement date of December 18, 2020.

43 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Government & Agency Portfolio


				Summary of Share Activity

	Six months ended						Year ended
	February 28, 2022^(a)						August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		162,483,965,647		$	162,483,965,647			287,998,117,369		$	287,998,117,369

Private Investment Class		739,731,866			739,731,866			1,566,476,737			1,566,476,737

Personal Investment Class		16,597,262			16,597,262			8,460,874			8,460,874

Cash Management Class		502,774,048			502,774,048			1,020,500,616			1,020,500,616

Reserve Class		1,286,100,892			1,286,100,892			1,184,114,517			1,184,114,517

Resource Class		575,440,585			575,440,585			1,448,949,173			1,448,949,173

Corporate Class		4,225,553,621			4,225,553,621			2,472,495,311			2,472,495,311

CAVU Securities Class^(b)		24,758,726,005			24,758,726,005			11,182,358,336			11,182,358,336


Issued as reinvestment of dividends:
Institutional Class		1,500,984			1,500,984			2,364,199			2,364,199

Private Investment Class		42,484			42,484			77,027			77,027

Personal Investment Class		1,075			1,075			1,664			1,664

Cash Management Class		42,314			42,314			62,947			62,947

Reserve Class		62,697			62,697			96,732			96,732

Resource Class		13,444			13,444			22,306			22,306

Corporate Class		99,960			99,960			20,996			20,996

CAVU Securities Class		231,219			231,219			68,987			68,987


Reacquired:
Institutional Class		(157,984,925,751	)		(157,984,925,751	)		(268,795,922,713	)		(268,795,922,713	)

Private Investment Class		(683,314,897	)		(683,314,897	)		(1,642,674,819	)		(1,642,674,819	)

Personal Investment Class		(10,241,730	)		(10,241,730	)		(12,632,377	)		(12,632,377	)

Cash Management Class		(294,346,362	)		(294,346,362	)		(704,092,281	)		(704,092,281	)

Reserve Class		(1,156,572,694	)		(1,156,572,694	)		(1,177,156,626	)		(1,177,156,626	)

Resource Class		(559,327,111	)		(559,327,111	)		(1,474,219,663	)		(1,474,219,663	)

Corporate Class		(4,289,473,251	)		(4,289,473,251	)		(1,421,688,484	)		(1,421,688,484	)

CAVU Securities Class		(22,294,548,474	)		(22,294,548,474	)		(9,740,577,642	)		(9,740,577,642	)

Net increase in share activity		7,318,133,833		$	7,318,133,833			21,915,223,186		$	21,915,223,186

^(a)

^(b)	Commencement date of December 18, 2020.

44 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Treasury Obligations Portfolio


				Summary of Share Activity

	Six months ended						Year ended
	February 28, 2022^(a)						August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		775,170,129		$	775,170,129			1,758,486,047		$	1,758,486,047

Private Investment Class		714,387			714,387			8,037,650			8,037,650

Personal Investment Class		7,077,364			7,077,364			6,051,798			6,051,798

Reserve Class		114,819,967			114,819,967			332,356,357			332,356,357

Resource Class		5			5			52,034			52,034

Corporate Class		-			-			129			129


Issued as reinvestment of dividends:
Institutional Class		11,379			11,379			69,137			69,137

Private Investment Class		735			735			1,543			1,543

Personal Investment Class		280			280			102			102

Cash Management Class		8			8			27			27

Reserve Class		3,241			3,241			7,165			7,165

Resource Class		-			-			3			3

Corporate Class		188			188			774			774


Reacquired:
Institutional Class		(740,050,148	)		(740,050,148	)		(2,065,497,826	)		(2,065,497,826	)

Private Investment Class		(1,656,129	)		(1,656,129	)		(7,818,691	)		(7,818,691	)

Personal Investment Class		(812,427	)		(812,427	)		(2,980,997	)		(2,980,997	)

Cash Management Class		(174,592	)		(174,592	)		(87,667	)		(87,667	)

Reserve Class		(98,318,366	)		(98,318,366	)		(312,456,512	)		(312,456,512	)

Resource Class		-			-			(103,990	)		(103,990	)

Corporate Class		(1,699,984	)		(1,699,984	)		(5,410,000	)		(5,410,000	)

Net increase (decrease) in share activity		55,086,037		$	55,086,037			(289,292,917	)	$	(289,292,917	)

^(a)

In addition, 55% of the outstanding shares of the Fund are owned by the Adviser or an affiliate of the Adviser.

45 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Tax-Free Cash Reserve Portfolio


				Summary of Share Activity

	Six months ended						Year ended
	February 28, 2022^(a)						August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		91,534,335		$	91,534,335			147,021,640		$	147,021,640

Private Investment Class		4,227,638			4,227,638			2,274,008			2,274,008

Personal Investment Class		2,540,401			2,540,401			7,107,975			7,107,975

Cash Management Class		2,600,250			2,600,250			6,420,817			6,420,817

Reserve Class		21,321,081			21,321,081			28,135,345			28,135,345

Resource Class		-			-			394,392			394,392


Issued as reinvestment of dividends:
Institutional Class		3,153			3,153			7,749			7,749

Private Investment Class		437			437			832			832

Personal Investment Class		57			57			195			195

Cash Management Class		82			82			230			230

Reserve Class		836			836			2,280			2,280

Resource Class		70			70			205			205


Reacquired:
Institutional Class		(74,148,295	)		(74,148,295	)		(179,760,190	)		(179,760,190	)

Private Investment Class		(2,082,370	)		(2,082,370	)		(2,855,050	)		(2,855,050	)

Personal Investment Class		(2,883,589	)		(2,883,589	)		(9,014,784	)		(9,014,784	)

Cash Management Class		(2,994,718	)		(2,994,718	)		(7,314,378	)		(7,314,378	)

Reserve Class		(22,117,815	)		(22,117,815	)		(38,734,330	)		(38,734,330	)

Resource Class		-			-			(1,921,844	)		(1,921,844	)

Net increase (decrease) in share activity		18,001,553		$	18,001,553			(48,234,908	)	$	(48,234,908	)

^(a)

46 Short-Term Investments Trust

Calculating your ongoing Fund expenses

Example

As a shareholder in the Corporate Class, you incur ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period September 1, 2021 through February 28, 2022.

Actual expenses

Hypothetical example for comparison purposes


	Beginning Account Value (09/01/21)	ACTUAL		HYPOTHETICAL (5% annual return before expenses)		Annualized Expense Ratio
		Ending	Expenses	Ending	Expenses
		Account Value	Paid During	Account Value	Paid During
Corporate Class		(02/28/22)¹	Period²	(02/28/22)	Period²
Invesco Liquid Assets Portfolio	$1,000.00	$999.70	$0.84	$1,023.95	$0.85	0.17%
Invesco STIC Prime Portfolio	1,000.00	1,000.10	0.60	1,024.20	0.60	0.12
Invesco Treasury Portfolio	1,000.00	1,000.10	0.35	1,024.45	0.35	0.07
Invesco Government & Agency Portfolio	1,000.00	1,000.10	0.30	1,024.50	0.30	0.06
Invesco Treasury Obligations Portfolio	1,000.00	1,000.10	0.40	1,024.40	0.40	0.08
Invesco Tax-Free Cash Reserve Portfolio	1,000.00	1,000.10	0.35	1,024.45	0.35	0.07

²	Expenses are equal to each Fund’s annualized expense ratio as indicated above multiplied by the average account value over the period, multiplied by 181/365 to reflect the most recent fiscal half year.

47 Short-Term Investments Trust

Invesco mailing information

Send general correspondence to Invesco Investment Services, Inc., P.O. Box 219078, Kansas City, MO 64121-9078.

Important notice regarding delivery of security holder documents

Fund holdings and proxy voting information

LOGO


SEC file numbers: 811-02729 and 002-58287		Invesco Distributors, Inc.		CM-STIT-SAR-2

LOGO


Semiannual Report to Shareholders		February 28, 2022

Cash Management Class

Short-Term Investments Trust (STIT)

Invesco Liquid Assets Portfolio

Invesco STIC Prime Portfolio

Invesco Treasury Portfolio

Invesco Government & Agency Portfolio

Invesco Treasury Obligations Portfolio

Invesco Tax-Free Cash Reserve Portfolio


2		Fund Data

3		Schedules of Investments

28		Financial Statements

34		Financial Highlights

35		Notes to Financial Statements

47		Fund Expenses

Unless otherwise stated, information presented in this report is as of February 28, 2022, and is based on total net assets. Unless otherwise stated, all data provided by Invesco.

NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE

Fund Data

Cash Management Class data as of 2/28/22

FUND

WEIGHTED

TOTAL

AVERAGE

NET

MATURITY

LIFE

ASSETS

Range

During

Reporting

Period

End

Invesco Liquid Assets¹

23 - 52 days

23 days

52 days

$2.4 million

Invesco STIC Prime¹

3 - 13 days

6 days

7 days

428.3 thousand

Invesco Treasury²

45 - 57 days

51 days

103 days

477.0 million

Invesco Government & Agency²

32 - 53 days

47 days

100 days

956.4 million

Invesco Treasury Obligations²

31 - 55 days

38 days

83 days

78.4 thousand

Invesco Tax-Free Cash Reserve³

9 - 15 days

11 days

4.2 million

Weighted average maturity (WAM) is an average of the maturities of all securities held in the portfolio, weighted by each security’s percentage of net assets. The days to maturity for WAM is the lower of the stated maturity date or next interest rate reset date. WAM reflects how a portfolio would react to interest rate changes.

Weighted average life (WAL) is an average of all the maturities of all securities held in the portfolio, weighted by each security’s percentage of net assets. The days to maturity for WAL is the lower of the stated maturity date or next demand feature date. WAL reflects how a portfolio would react to deteriorating credit (widening spreads) or tightening liquidity conditions.

2 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
Commercial Paper-36.48%^(a)
Asset-Backed Securities - Fully Supported-2.71%
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.17%		04/13/2022	$	10,000	$ 9,996,724
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.25%		05/06/2022		50,000	49,960,732
							59,957,456

Asset-Backed Securities - Fully Supported Bank-5.88%
Anglesea Funding LLC (Multi - CEP’s)^(b)(c)		0.13%		03/03/2022		10,000	9,999,921
Anglesea Funding PLC (Multi - CEP’s) (OBFR + 0.10%)^(b)(c)(d)		0.17%		05/20/2022		25,000	25,003,750
Bedford Row Funding Corp. (CEP - Royal Bank of Canada) (1 mo. FEDL + 0.12%)^(b)(c)(d)		0.20%		09/01/2022		20,000	19,998,483
Ebury Finance LLC (Multi - CEP’s), (SOFR + 0.15%)^(b)(c)(d)		0.20%		05/23/2022		50,000	50,000,583
Versailles Commercial Paper LLC (CEP - Natixis S.A.) (SOFR + 0.16%)^(b)(c)(d)		0.21%		08/02/2022		25,000	25,000,098
							130,002,835

Diversified Banks-21.08%
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(b)(c)(d)		0.25%		05/16/2022		30,000	30,000,937
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(b)(c)(d)		0.25%		05/20/2022		25,000	25,000,822
ANZ New Zealand (Int’l) Ltd.^(b)(c)		0.17%		04/04/2022		23,700	23,695,783
ANZ New Zealand (Int’l) Ltd.^(b)(c)		0.34%		10/03/2022		30,000	29,831,463
Barclays Bank PLC (SOFR + 0.16%)^(b)(c)(d)		0.21%		07/01/2022		60,000	60,003,023
Industrial & Commercial Bank of China Ltd.^(b)(c)		0.15%		03/15/2022		50,000	49,997,437
Kookmin Bank^(b)(c)		0.20%		03/17/2022		20,000	19,999,226
Mitsubishi UFJ Trust & Banking Corp.^(b)(c)		0.26%		04/13/2022		15,000	14,995,637
National Australia Bank Ltd. (SOFR + 0.17%)^(b)(c)(d)		0.22%		07/25/2022		50,000	50,003,019
NRW Bank^(b)(c)		0.00%		04/01/2022		30,000	29,986,667
Royal Bank of Canada^(b)(c)		0.20%		06/16/2022		15,000	14,974,125
Svenska Handelsbanken AB^(b)(c)		0.34%		11/03/2022		22,850	22,690,700
Toronto-Dominion Bank (The)^(b)(c)		0.21%		06/22/2022		25,000	24,952,262
Toronto-Dominion Bank (The) (1 mo. FEDL + 0.10%)^(b)(c)(d)		0.18%		07/08/2022		10,000	9,999,109
Toronto-Dominion Bank (The) (1 mo. FEDL + 0.10%)^(b)(c)(d)		0.18%		09/06/2022		10,000	9,997,669
United Overseas Bank Ltd.^(b)(c)		0.25%		06/09/2022		50,000	49,922,146
							466,050,025

Diversified Capital Markets-2.71%
UBS AG^(b)(c)		0.25%		08/18/2022		30,000	29,895,263
UBS AG (SOFR + 0.17%)^(b)(c)(d)		0.22%		09/21/2022		30,000	29,987,712
							59,882,975

Investment Banking & Brokerage-1.35%
Goldman Sachs International^(b)		0.45%		11/15/2022		30,000	29,768,383

Regional Banks-2.30%
ASB Finance Ltd.^(b)(c)		0.25%		03/18/2022		20,920	20,919,216
ASB Finance Ltd.^(b)(c)		0.21%		07/08/2022		30,000	29,931,208
							50,850,424

Specialized Finance-0.45%
Great Bear Funding LLC (OBFR + 0.15%)^(c)(d)		0.22%		07/01/2022		10,000	10,001,500
Total Commercial Paper (Cost $807,086,551)							806,513,598

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

3 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


	Interest Rate			Maturity Date		Principal Amount (000)		Value

Certificates of Deposit-34.73%
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(c)(d)		0.25%			05/11/2022	$	10,000	$ 10,001,239
ANZ New Zealand (Int’l) Ltd.^(c)		0.07%			03/01/2022		55,000	55,000,000
Bank of Montreal^(c)		0.21%			06/24/2022		10,000	9,987,430
Bank of Nova Scotia (The) (SOFR + 0.11%)^(c)(d)		0.16%			04/20/2022		50,000	50,004,956
Canadian Imperial Bank of Commerce^(c)		0.07%			03/01/2022		38,000	38,000,000
Canadian Imperial Bank of Commerce (1 mo. FEDL + 0.10%)^(c)(d)		0.18%			06/08/2022		50,000	49,997,973
Cooperatieve Rabobank U.A.^(c)		0.07%			03/01/2022		105,000	105,000,000
DZ Bank AG Deutsche Zentral-Genossenschaftsbank^(c)		0.06%			03/01/2022		95,000	95,000,000
Goldman Sachs Bank USA (SOFR + 0.21%)^(d)		0.26%			09/16/2022		30,000	29,999,999
Nordea Bank Abp^(c)		0.06%			03/01/2022		95,000	95,000,000
Skandinaviska Enskilda Banken AB^(c)		0.06%			03/01/2022		95,000	95,000,000
Svenska Handelsbanken AB^(c)		0.06%			03/01/2022		75,000	75,000,000
Westpac Banking Corp. (SOFR + 0.13%)^(c)(d)		0.18%			07/15/2022		55,000	54,994,856
Westpac Banking Corp.^(c)		0.44%			11/23/2022		5,000	4,976,872
Total Certificates of Deposit (Cost $767,998,956)								767,963,325

Variable Rate Demand Notes-5.24%^(e)
Credit Enhanced-5.24%
Capital Area Housing Finance Corp. (Cypress Creek at River Apartments); Series 2006, VRD MFH RB (LOC - Citibank N.A.)^(f)(g)		0.23%			10/01/2039		2,400	2,400,000
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(g)		0.19%			06/01/2037		3,055	3,055,000
Jets Stadium Development LLC; Series 2014 A-4B, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)^(b)(c)(g)		0.26%			04/01/2047		9,200	9,199,999
Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank N.A.)^(g)		0.22%			05/01/2037		2,500	2,500,000
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(g)		0.19%			11/15/2046		11,180	11,180,000
Sarasota (County of), FL Public Hospital District (Sarasota Memorial Hospital); Series 2008 B, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(g)		0.20%			07/01/2037		5,420	5,420,000
University of Texas System Board of Regents; Subseries 2016 G-2, VRD RB		0.16%			08/01/2045		82,040	82,040,000
Total Variable Rate Demand Notes (Cost $115,794,999)								115,794,999
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-76.45% (Cost $1,690,880,506)								1,690,271,922

						Repurchase Amount

Repurchase Agreements-24.92%^(h)
BMO Capital Markets Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $100,003,111 (collateralized by U.S government sponsored agency obligations, domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $103,576,455; 0.00% - 8.88%; 04/25/2022 - 06/20/2071)^(c)(i)		0.16	%		03/01/2022		27,000,840	27,000,000
BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $150,004,958 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $157,182,535; 0.00% - 8.20%; 02/13/2023 - 12/16/2062)^(c)(i)		0.17	%		03/02/2022		15,000,496	15,000,000

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

4 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


	Interest Rate	Maturity Date	Repurchase Amount		Value
BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $25,001,069 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $26,546,588; 0.00% - 10.00%; 12/07/2021 - 12/20/2065)^(c)(i)	0.22%	03/02/2022	$	10,000,428	$ 10,000,000


Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic and foreign non-agency asset-backed securities and domestic non-agency mortgage-backed securities valued at $203,598,357; 1.17% - 7.06%; 10/25/2026 -02/15/2039)^(j)	0.56%	03/01/2022		8,003,451	8,000,000


Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic non-agency asset-backed securities, domestic corporate obligations and domestic non-agency mortgage-backed securities valued at $55,045,612; 1.87% -7.38%; 03/25/2026 - 06/01/2044)^(j)	0.55%	03/01/2022		35,014,963	35,000,000


Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic non-agency mortgage-backed securities valued at $55,143,137; 1.94% -5.80%; 01/25/2030 - 12/15/2038)^(j)	0.54%	03/01/2022		10,004,197	10,000,000


Credit Agricole Corporate & Investment Bank, joint term agreement dated 02/22/2022, aggregate maturing value of $240,006,067 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations, domestic non-agency mortgage-backed securities and U.S. Treasury obligations valued at $246,893,829; 0.00% - 7.75%; 04/07/2022 - 05/01/2079)^(c)(i)	0.13%	03/01/2022		20,000,506	20,000,000


Credit Suisse Securities (USA) LLC, joint term agreement dated 02/23/2022, aggregate maturing value of $90,003,500 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities and domestic and foreign corporate obligations valued at $98,998,378; 0.00% - 15.98%; 04/22/2022 - 09/27/2060)^(c)(i)	0.20%	03/02/2022		25,000,972	25,000,000


Credit Suisse Securities (USA) LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $10,000,095 (collateralized by domestic non-agency mortgage-backed securities valued at $10,500,001; 1.38% - 4.74%; 12/15/2046 - 01/20/2051)^(c)(k)	0.34%	03/01/2022		2,000,019	2,000,000


J.P. Morgan Securities LLC, joint open agreement dated 04/28/2020 (collateralized by domestic and corporate obligations valued at $109,999,955; 0.00% - 10.88%; 04/30/2022 - 11/03/2037)^(j)	0.37%	03/01/2022		65,018,706	65,000,000


J.P. Morgan Securities LLC, joint open agreement dated 09/18/2020 (collateralized by domestic and foreign equity securities valued at $15,753,313; 0.00% - 8.50%; 10/31/2026 - 01/31/2028)^(j)	0.27%	03/01/2022		7,001,470	7,000,000


J.P. Morgan Securities LLC, open agreement dated 11/01/2021 (collateralized by a domestic agency mortgage-backed security and domestic non-agency mortgage-backed securities valued at $15,750,000; 0.22% - 3.36%; 06/15/2031 - 04/27/2065)^(j)	0.43%	03/01/2022		15,005,004	15,000,000


Mitsubishi UFJ Trust & Banking Corp., joint open agreement dated 02/23/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations, domestic and foreign commercial paper and a U.S. Treasury obligation valued at $51,697,846; 0.00% - 8.50%; 03/01/2022 - 01/15/2082)^(c)(j)	0.20%	03/01/2022		25,003,889	25,000,000


Mizuho Securities (USA) LLC, joint open agreement dated 12/30/2021 (collateralized by domestic and foreign equity securities valued at $52,500,215; 0.00%)^(c)(j)	0.22%	03/01/2022		28,000,171	28,000,000


RBC Capital Markets LLC, joint term agreement dated 02/23/2022, aggregate maturing value of $155,005,726 (collateralized by domestic and foreign corporate obligations valued at $170,310,340; 0.00% - 13.00%; 03/15/2022 - 05/15/2097)^(c)(i)	0.19%	03/02/2022		20,000,739	20,000,000


Societe Generale, joint open agreement dated 08/06/2019 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and domestic non-agency mortgage-backed securities valued at $78,729,067; 0.34% -13.00%; 03/15/2022 - 12/15/2072)^(c)(j)	0.25%	03/01/2022		25,000,174	25,000,000


Societe Generale, joint open agreement dated 08/20/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations and a domestic non-agency mortgage-backed security valued at $91,931,202; 0.98% -10.13%; 01/05/2023 - 03/11/2061)^(c)(j)	0.18%	03/01/2022		65,000,325	65,000,000

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

5 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


	Interest Rate		Maturity Date	Repurchase Amount		Value
Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)		0.06%	03/01/2022	$	148,899,229	$ 148,898,981


Total Repurchase Agreements (Cost $550,898,981)						550,898,981


TOTAL INVESTMENTS IN SECURITIES^(l)(m)-101.37% (Cost $2,241,779,487)						2,241,170,903


OTHER ASSETS LESS LIABILITIES-(1.37)%						(30,328,382)


NET ASSETS-100.00%						$2,210,842,521


Investment Abbreviations:
CEP		-Credit Enhancement Provider
FEDL		-Federal Funds Effective Rate
LOC		-Letter of Credit
MFH		-Multi-Family Housing
OBFR		-Overnight Bank Funding Rate
RB		-Revenue Bonds
Ref.		-Refunding
SOFR		-Secured Overnight Financing Rate
VRD		-Variable Rate Demand

Notes to Schedule of Investments:

^(a)	Securities may be traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.

^(b)

^(c)

^(d)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(e)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(f)	Security subject to the alternative minimum tax.

^(g)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(h)	Principal amount equals value at period end. See Note 1I.

⁽ⁱ⁾	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(j)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(k)	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

(l)	Also represents cost for federal income tax purposes.

^(m)	Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer’s obligations but may be called upon to satisfy the issuer’s obligations. No concentration of any single entity was greater than 5% each.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7		51.3%
8-30		4.1
31-60		10.4
61-90		5.2
91-180		20.9
181+		8.1

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

6 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco STIC Prime Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
Commercial Paper-31.79%^(a)
Asset-Backed Securities - Fully Supported-4.95%
Ionic Capital II Trust (CEP - Citibank N.A.)		0.16%		03/04/2022	$	8,000	$ 7,999,916
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.29%		04/05/2022		5,000	4,998,955
							12,998,871

Asset-Backed Securities - Fully Supported Bank-13.50%
Concord Minutemen Capital Co. LLC^(b)(c)		0.18%		03/17/2022		5,000	4,999,745
Institutional Secured Funding LLC (Multi - CEP’s)^(b)(c)		0.18%		03/04/2022		7,000	6,999,872
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)^(b)(c)		0.17%		03/16/2022		7,430	7,429,515
Nieuw Amsterdam Receivables Corp. (CEP - Cooperatieve Rabobank U.A.)^(b)(c)		0.17%		03/17/2022		8,000	7,999,490
Sheffield Receivables Co. LLC (CEP - Barclays Bank PLC)^(b)(c)		0.15%		03/11/2022		8,000	7,999,755
							35,428,377

Diversified Banks-13.34%
Agricultural Bank of China Ltd.^(b)(c)		0.18%		03/07/2022		8,000	7,999,759
BNG Bank N.V.^(b)(c)		0.10%		03/01/2022		5,000	4,999,991
Nederlandse Waterschapsbank N.V.^(b)(c)		0.51%		03/31/2022		7,000	6,999,036
NRW Bank^(b)(c)		0.51%		04/01/2022		7,000	6,996,889
Sumitomo Mitsui Trust Bank Ltd.^(b)(c)		0.17%		03/16/2022		8,000	7,999,573
							34,995,248
Total Commercial Paper (Cost $83,419,659)							83,422,496

Certificates of Deposit-25.92%
ANZ New Zealand (Int’l) Ltd.^(c)		0.07%		03/01/2022		12,000	12,000,000
Canadian Imperial Bank of Commerce^(c)		0.07%		03/01/2022		12,000	12,000,000
Cooperatieve Rabobank U.A.^(c)		0.07%		03/01/2022		4,000	4,000,000
DZ Bank AG Deutsche Zentral-Genossenschaftsbank^(c)		0.06%		03/01/2022		10,000	10,000,000
Nordea Bank Abp^(c)		0.06%		03/01/2022		10,000	10,000,000
Skandinaviska Enskilda Banken AB^(c)		0.06%		03/01/2022		10,000	10,000,000
Svenska Handelsbanken AB^(c)		0.06%		03/01/2022		10,000	10,000,000
Total Certificates of Deposit (Cost $68,000,000)							68,000,000

Variable Rate Demand Notes-15.46%^(d)
Credit Enhanced-15.46%
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(e)		0.19%		06/01/2037		5,610	5,610,000
Illinois (State of) Housing Development Authority (Danbury Court Apartments-Phase II); Series 2004 B, VRD MFH RB (LOC - FHLB of Indianapolis)^(e)(f)		0.28%		12/01/2039		730	730,000
Jets Stadium Development LLC; Series 2007 A-4, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)^(b)(e)		0.26%		04/01/2047		7,800	7,800,000
Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank N.A.)^(e)		0.22%		05/01/2037		3,050	3,050,000
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(e)		0.19%		11/15/2046		3,000	3,000,000
Mobile Downtown Redevelopment Authority (The) (Austal USA LLC); Series 2011 B, Ref. VRD RB^(b)		0.22%		05/01/2041		6,000	6,000,000
Ohio (State of) Housing Finance Agency (Wingate at Belle Meadows); Series 2004, VRD RB^(f)		0.15%		10/01/2036		8,205	8,205,000
Portland (Port of), OR (Portland International Airport); Subseries 2008 18-A, Ref. VRD RB (LOC - Industrial & Commercial Bank of China Ltd.)^(c)(e)(f)		0.27%		07/01/2026		570	570,000
Southeast Texas Housing Finance Corp. (Mansions at Moses Lake Apartments); Series 2008, VRD RB (CEP - FHLMC)^(f)		0.26%		06/01/2041		890	890,000

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

7 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco STIC Prime Portfolio–(continued)


	Interest Rate	Maturity Date		Principal Amount (000)		Value

Credit Enhanced-(continued)
Ziegler Realty LLC; Series 2007, VRD Notes (LOC - Wells Fargo Bank N.A.)^(b)(e)	0.18%	01/01/2033	$	4,700	$	4,700,000
Total Variable Rate Demand Notes (Cost $40,555,000)						40,555,000
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-73.17% (Cost $191,974,659)						191,977,496

			Repurchase Amount

Repurchase Agreements-32.14%^(g)
BMO Capital Markets Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $100,003,111 (collateralized by U.S government sponsored agency obligations, domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $103,576,455; 0.00% - 8.88%; 04/25/2022 - 06/20/2071)^(c)(h)	0.16%	03/01/2022		3,000,093		3,000,000
BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $150,004,958 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $157,182,535; 0.00% -8.20%; 02/13/2023 - 12/16/2062)^(c)(h)	0.17%	03/02/2022		3,000,099		3,000,000
BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $25,001,069 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $26,546,588; 0.00% - 10.00%; 12/07/2021 - 12/20/ 2065)^(c)(h)	0.22%	03/02/2022		3,000,128		3,000,000
BofA Securities, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $745,001,035 (collateralized by domestic agency mortgage-backed securities valued at $759,900,001; 0.46% - 7.50%; 09/25/2022 - 01/01/2052)	0.05%	03/01/2022		12,000,017		12,000,000
Citigroup Global Markets, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $400,000,556 (collateralized by U.S. Treasury obligations valued at $408,000,001; 0.00% - 0.13%; 01/15/2023 - 02/15/2051)	0.05%	03/01/2022		12,000,017		12,000,000
Credit Suisse Securities (USA) LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $10,000,095 (collateralized by domestic non-agency mortgage-backed securities valued at $10,500,001; 1.38% - 4.74%; 12/15/2046 - 01/20/2051)^(c)(i)	0.34%	03/01/2022		8,000,076		8,000,000
J.P. Morgan Securities LLC, joint open agreement dated 09/18/2020 (collateralized by domestic and foreign equity securities valued at $15,753,313; 0.00% - 8.50%; 10/31/2026 -01/31/2028)^(j)	0.27%	03/01/2022		8,001,680		8,000,000
Mitsubishi UFJ Trust & Banking Corp., joint open agreement dated 02/23/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations, domestic and foreign commercial paper and a U.S. Treasury obligation valued at $51,697,846; 0.00% - 8.50%; 03/01/2022 - 01/15/2082)^(c)(j)	0.20%	03/01/2022		7,001,089		7,000,000
Mizuho Securities (USA) LLC, joint open agreement dated 12/30/2021 (collateralized by domestic and foreign equity securities valued at $52,500,215; 0.00%)^(c)(j)	0.22%	03/01/2022		7,000,043		7,000,000
Societe Generale, joint open agreement dated 08/06/2019 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and domestic non-agency mortgage-backed securities valued at $78,729,067; 0.34% - 13.00%; 03/15/2022 - 12/15/2072)^(c)(j)	0.25%	03/01/2022		5,000,035		5,000,000
Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)	0.06%	03/01/2022		16,326,257		16,326,230


Total Repurchase Agreements (Cost $84,326,230)						84,326,230


TOTAL INVESTMENTS IN SECURITIES^(k)(l)-105.31% (Cost $276,300,889)						276,303,726


OTHER ASSETS LESS LIABILITIES-(5.31)%						(13,931,465	)


NET ASSETS-100.00%					$	262,372,261

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

8 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco STIC Prime Portfolio–(continued)



Investment Abbreviations:

CEP		-Credit Enhancement Provider
FHLB		-Federal Home Loan Bank
FHLMC -		Federal Home Loan Mortgage Corp.
LOC		-Letter of Credit
MFH		-Multi-Family Housing
RB		-Revenue Bonds
Ref.		-Refunding
VRD		-Variable Rate Demand

Notes to Schedule of Investments:

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

^(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 February 28, 2022 was $93,922,580, which represented 35.80% of the Fund’s Net Assets.

^(c)

The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: Netherlands: 11.8; Japan: 8.4%; Canada: 8.0%; Sweden: 7.6%; France: 6.6%; Germany: 6.5%; Switzerland: 5.0%; other countries less than 5% each: 14.7%.

^(d)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(e)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(f)	Security subject to the alternative minimum tax.

^(g)	Principal amount equals value at period end. See Note 1I.

^(h)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

⁽ⁱ⁾	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(j)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(k)	Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer’s obligation but may be called upon to satisfy issuer’s obligations. No concentration of any single entity was greater than 5% each.

^(l)	Also represents cost for federal income tax purposes.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7		75.8%
8-30		13.9
31-60		10.3
61-90		0.0
91-180		0.0
181+		0.0

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

9 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio


	Interest Rate		Maturity Date	Principal Amount (000)		Value
U.S. Treasury Securities-60.06%
U.S. Treasury Bills-31.54%^(a)
U.S. Treasury Bills		0.11%	04/26/2022	$	721,000	$ 720,876,629
U.S. Treasury Bills		0.29%-0.31%	05/12/2022		650,000	649,612,998
U.S. Treasury Bills		0.28%	05/24/2022		225,000	224,855,625
U.S. Treasury Bills		0.38%	05/26/2022		450,000	449,591,499
U.S. Treasury Bills		0.28%-0.29%	05/31/2022		1,200,000	1,199,141,564
U.S. Treasury Bills		0.09%-0.36%	06/02/2022		600,000	599,589,500
U.S. Treasury Bills		0.34%	06/07/2022		527,000	526,512,232
U.S. Treasury Bills		0.07%-0.26%	06/16/2022		535,000	534,676,771
U.S. Treasury Bills		0.55%	06/21/2022		460,000	459,212,889
U.S. Treasury Bills		0.57%	06/28/2022		500,000	499,057,915
U.S. Treasury Bills		0.08%	07/14/2022		150,000	149,957,812
U.S. Treasury Bills		0.11%	08/11/2022		200,000	199,900,842
U.S. Treasury Bills		0.08%-0.12%	09/08/2022		500,000	499,727,295
U.S. Treasury Bills		0.09%	10/06/2022		200,000	199,890,500
						6,912,604,071

U.S. Treasury Floating Rate Notes-15.08%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)		0.47%	04/30/2022		744,000	744,073,587
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%	07/31/2022		350,000	350,001,528
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%	10/31/2022		355,000	354,993,431
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)		0.41%	01/31/2023		100,000	100,000,000
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%	04/30/2023		250,500	250,509,461
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%	07/31/2023		627,000	627,019,367
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)		0.40%	10/31/2023		880,000	879,991,372
						3,306,588,746

U.S. Treasury Notes-13.44%
U.S. Treasury Notes		1.75%	03/31/2022		300,000	300,412,035
U.S. Treasury Notes		1.88%	03/31/2022		100,000	100,145,660
U.S. Treasury Notes		1.75%	04/30/2022		200,000	200,549,446
U.S. Treasury Notes		1.75%	06/15/2022		200,000	200,963,044
U.S. Treasury Notes		0.13%	06/30/2022		200,000	200,023,309
U.S. Treasury Notes		1.75%	06/30/2022		100,000	100,547,880
U.S. Treasury Notes		2.13%	06/30/2022		200,000	201,349,336
U.S. Treasury Notes		1.75%	07/15/2022		200,000	201,230,784
U.S. Treasury Notes		0.13%	07/31/2022		200,000	200,033,666
U.S. Treasury Notes		1.88%	07/31/2022		250,000	251,856,731
U.S. Treasury Notes		1.63%	08/15/2022		200,000	201,417,294
U.S. Treasury Notes		1.63%	08/31/2022		150,000	151,137,915
U.S. Treasury Notes		1.50%	09/15/2022		150,000	151,151,255

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

10 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)


	Interest Rate	Maturity Date		Principal Amount (000)		Value
U.S. Treasury Notes-(continued)
U.S. Treasury Notes	1.38%		10/15/2022	$	200,000	$ 201,613,975
U.S. Treasury Notes	1.88%		10/31/2022		180,000	182,134,400
U.S. Treasury Notes	2.00%		10/31/2022		100,000	101,267,558
						2,945,834,288
Total U.S. Treasury Securities (Cost $13,165,027,105)						13,165,027,105
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-60.06% (Cost $13,165,027,105)						13,165,027,105

				Repurchase Amount
Repurchase Agreements-44.00%^(c)
Bank of Nova Scotia, agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by U.S. Treasury obligations valued at $510,000,014; 0.13% - 2.75%; 09/30/2022 - 08/15/2029)	0.05%		03/01/2022		500,000,694	500,000,000
BofA Securities, Inc., agreement dated 02/28/2022, maturing value of $600,000,833 (collateralized by U.S. Treasury obligations valued at $612,000,010; 1.13% - 7.63%; 11/15/2024 - 05/15/2051)	0.05%		03/01/2022		600,000,833	600,000,000
CIBC World Markets Corp., joint term agreement dated 02/07/2022, aggregate maturing value of $350,020,319 (collateralized by U.S. Treasury obligations valued at $357,000,019; 0.00% - 4.50%; 07/14/2022 - 02/15/2051)^(d)	0.06%		03/17/2022		150,008,708	150,000,000
Citigroup Global Markets, Inc., joint term agreement dated 02/22/2022, aggregate maturing value of $300,003,208 (collateralized by U.S. Treasury obligations valued at $306,000,095; 1.25% - 2.25%; 11/15/2022 - 04/30/2028)^(d)	0.06%		03/01/2022		110,001,176	110,000,000
Credit Agricole Corporate & Investment Bank, joint agreement dated 02/28/2022, aggregate maturing value of $1,250,001,736 (collateralized by U.S. Treasury obligations valued at $1,275,000,039; 0.75% - 2.75%; 05/31/2023 - 09/30/2028)	0.05%		03/01/2022		950,001,319	950,000,000
Credit Agricole Corporate & Investment Bank, joint open agreement dated 12/01/2021 (collateralized by U.S. Treasury obligations valued at $2,032,860,462; 0.13% - 3.13%; 04/15/2024 - 11/15/2050)^(e)	0.05%		03/01/2022		450,017,375	450,000,000
DNB Bank ASA, agreement dated 02/28/2022, maturing value of $350,000,486 (collateralized by U.S. Treasury obligations valued at $361,046,466; 0.13% -1.63%; 07/15/2027 - 07/15/2031)	0.05%		03/01/2022		350,000,486	350,000,000
Federal Reserve Bank of New York, joint agreement dated 02/28/2022, aggregate maturing value of $800,001,111 (collateralized by U.S. Treasury obligations valued at $800,001,169; 0.13%; 11/30/2022)	0.05%		03/01/2022		200,000,278	200,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), agreement dated 02/28/2022, maturing value of $1,500,002,083 (collateralized by U.S. Treasury obligations valued at $1,530,000,063; 0.13% - 2.88%; 05/15/2022 - 11/15/2046)	0.05%		03/01/2022		1,500,002,083	1,500,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), joint agreement dated 02/28/2022, aggregate maturing value of $612,000,085 (collateralized by U.S. Treasury obligations valued at $624,240,130; 0.00%; 08/11/2022)	0.01%		03/01/2022		200,000,028	200,000,000
Goldman Sachs & Co., agreement dated 02/28/2022, maturing value of $250,000,347 (collateralized by a U.S. Treasury obligation valued at $255,000,014; 1.75%; 11/15/2029)	0.05%		03/01/2022		250,000,347	250,000,000
ING Financial Markets, LLC, agreement dated 02/28/2022, maturing value of $100,000,139 (collateralized by U.S. Treasury obligations valued at $102,000,056; 0.00% - 1.75%; 05/19/2022 - 02/15/2045)	0.05%		03/01/2022		100,000,139	100,000,000
J.P. Morgan Securities LLC, joint open agreement dated 03/27/2020 (collateralized by U.S. Treasury obligations valued at $867,001,467; 0.00% - 2.38%; 03/03/2022 - 05/15/2050)^(e)	0.05%		03/01/2022		630,024,325	630,000,000

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

11 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)


	Interest Rate	Maturity Date	Repurchase Amount		Value
Metropolitan Life Insurance Co., joint term agreement dated 02/23/2022, aggregate maturing value of $350,014,295 (collateralized by U.S. Treasury obligations valued at $358,935,903; 0.00%; 08/15/2027 - 11/15/2045)^(d)	0.07%	03/02/2022	$	100,004,324	$	100,002,963


Mitsubishi UFJ Trust & Banking Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $768,135,455 (collateralized by U.S. Treasury obligations valued at $788,525,747; 1.13%; 02/28/2025 - 02/28/2027)^(d)	0.07%	03/02/2022		266,003,621		266,000,000


Mitsubishi UFJ Trust & Banking Corp., term agreement dated 02/23/2022, maturing value of $100,001,167 (collateralized by U.S. Treasury obligations valued at $102,001,081; 0.63% - 1.25%; 08/15/2030 - 08/15/2031)^(d)	0.06%	03/02/2022		100,001,167		100,000,000


Prudential Insurance Co. of America, agreement dated 02/28/2022, maturing value of $256,312,927 (collateralized by U.S. Treasury obligations valued at $264,258,250; 0.00%; 08/15/2027 - 08/15/2037)	0.06%	03/01/2022		256,312,927		256,312,500


Prudential Legacy Insurance Company of New Jersey, agreement dated 02/28/2022, maturing value of $348,750,581 (collateralized by U.S. Treasury obligations valued at $361,788,000; 0.00%; 08/15/2033 -02/15/2045)	0.06%	03/01/2022		348,750,581		348,750,000


RBC Dominion Securities Inc., joint term agreement dated 02/08/2022, aggregate maturing value of $500,016,667 (collateralized by U.S. Treasury obligations valued at $510,000,124; 0.13% - 6.00%; 07/15/2024 - 02/15/2050)^(d)	0.05%	03/04/2022		100,003,333		100,000,000


RBC Dominion Securities Inc., joint term agreement dated 02/24/2022, aggregate maturing value of $500,004,861 (collateralized by U.S. Treasury obligations valued at $510,000,087; 0.13% - 5.25%; 04/30/2022 - 02/15/2052)^(d)	0.05%	03/03/2022		250,002,431		250,000,000


Royal Bank of Canada, joint term agreement dated 02/11/2022, aggregate maturing value of $100,004,583 (collateralized by U.S. Treasury obligations valued at $102,000,076; 0.13% - 2.75%; 05/15/2022 - 11/15/2041)^(d)	0.05%	03/16/2022		50,002,292		50,000,000


Royal Bank of Canada, term agreement dated 02/23/2022, maturing value of $250,002,431 (collateralized by U.S. Treasury obligations valued at $255,000,061; 0.13% - 2.88%; 05/15/2022 - 11/15/2041)^(d)	0.05%	03/02/2022		250,002,431		250,000,000


Societe Generale, joint open agreement dated 01/05/2022 (collateralized by U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 7.63%; 03/01/2022 - 02/15/2052)^(e)	0.05%	03/01/2022		275,000,382		275,000,000


Societe Generale, joint open agreement dated 01/12/2022 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,530,000,206; 0.00% - 7.63%; 03/01/2022 - 10/01/2051)^(e)	0.05%	03/01/2022		380,000,528		380,000,000


Standard Chartered Bank, agreement dated 02/28/2022, maturing value of $250,000,347 (collateralized by U.S. Treasury obligations valued at $255,000,373; 0.13% - 4.38%; 07/15/2023 - 05/15/2051)	0.05%	03/01/2022		250,000,347		250,000,000


Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,700,003,750 (collateralized by U.S. Treasury obligations valued at $2,754,000,090; 0.38% - 2.88%; 07/31/2022 - 02/15/2051)	0.05%	03/01/2022		1,027,847,515		1,027,846,087


Total Repurchase Agreements (Cost $9,643,911,550)						9,643,911,550


TOTAL INVESTMENTS IN SECURITIES-104.06% (Cost $22,808,938,655)						22,808,938,655


OTHER ASSETS LESS LIABILITIES-(4.06)%						(889,390,382	)


NET ASSETS-100.00%					$	21,919,548,273

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(c)	Principal amount equals value at period end. See Note 1I.

^(d)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(e)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

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

12 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7	39.9	%
8-30	0.0
31-60	5.1
61-90	10.4
91-180	27.7
181+	16.9

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

13 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. Treasury Securities-61.01%
U.S. Treasury Bills-43.56%^(a)
U.S. Treasury Bills		0.06%		03/01/2022	$	475,000	$ 475,000,000
U.S. Treasury Bills		0.07%		03/10/2022		750,000	749,986,875
U.S. Treasury Bills		0.08%		03/24/2022		715,000	714,965,740
U.S. Treasury Bills		0.07%		03/29/2022		705,000	704,961,471
U.S. Treasury Bills		0.09%		03/31/2022		815,000	814,942,271
U.S. Treasury Bills		0.25%		04/12/2022		2,011,000	2,010,413,458
U.S. Treasury Bills		0.25%		04/19/2022		3,000,000	2,998,979,164
U.S. Treasury Bills		0.07%		04/21/2022		250,000	249,976,979
U.S. Treasury Bills		0.11%		04/26/2022		1,690,000	1,689,603,342
U.S. Treasury Bills		0.24%		05/05/2022		750,000	749,675,000
U.S. Treasury Bills		0.29%		05/12/2022		1,200,000	1,199,303,997
U.S. Treasury Bills		0.23%		05/17/2022		545,000	544,729,618
U.S. Treasury Bills		0.44%		05/19/2022		500,000	499,517,223
U.S. Treasury Bills		0.25%		05/24/2022		800,000	799,512,917
U.S. Treasury Bills		0.29%		05/31/2022		2,000,000	1,998,572,943
U.S. Treasury Bills		0.09%		06/02/2022		850,000	849,463,625
U.S. Treasury Bills		0.34%		06/07/2022		1,550,000	1,548,572,738
U.S. Treasury Bills		0.11%		06/09/2022		250,000	249,927,083
U.S. Treasury Bills		0.50%		06/14/2022		905,000	903,692,954
U.S. Treasury Bills		0.07%		06/16/2022		400,000	399,917,521
U.S. Treasury Bills		0.55%		06/21/2022		1,565,000	1,562,322,111
U.S. Treasury Bills		0.57%		06/28/2022		1,600,000	1,597,117,141
U.S. Treasury Bills		0.08%		08/11/2022		300,000	299,891,333
U.S. Treasury Bills		0.61%-0.72%		08/25/2022		2,075,000	2,068,206,952
U.S. Treasury Bills		0.08%		09/08/2022		75,000	74,970,156
U.S. Treasury Bills		0.10%		10/06/2022		860,000	859,518,656
							26,613,741,268

U.S. Treasury Floating Rate Notes-8.87%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)		0.47%		04/30/2022		107,000	107,014,699
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		07/31/2022		287,000	287,008,217
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		10/31/2022		730,000	730,013,539
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)		0.41%		01/31/2023		412,400	412,493,852
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		04/30/2023		1,330,000	1,330,100,459
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		07/31/2023		1,085,000	1,085,029,584
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)		0.40%		10/31/2023		1,238,679	1,238,723,205
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate - 0.02%)^(b)		0.35%		01/31/2024		230,000	229,924,030
							5,420,307,585

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

14 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. Treasury Notes-8.58%
U.S. Treasury Notes		2.38%		03/15/2022	$	46,000	$ 46,040,879
U.S. Treasury Notes		1.75%		03/31/2022		650,000	650,895,927
U.S. Treasury Notes		1.88%		03/31/2022		925,000	926,373,709
U.S. Treasury Notes		1.75%		04/30/2022		50,000	50,137,302
U.S. Treasury Notes		1.88%		04/30/2022		150,000	150,446,901
U.S. Treasury Notes		1.75%		05/15/2022		135,000	135,465,164
U.S. Treasury Notes		2.13%		05/15/2022		190,000	190,803,023
U.S. Treasury Notes		1.75%		05/31/2022		50,000	50,209,503
U.S. Treasury Notes		1.75%		06/30/2022		739,243	743,325,465
U.S. Treasury Notes		2.13%		06/30/2022		660,000	664,453,821
U.S. Treasury Notes		1.75%		07/15/2022		625,000	628,878,536
U.S. Treasury Notes		0.13%		07/31/2022		150,000	150,011,557
U.S. Treasury Notes		2.00%		07/31/2022		210,000	211,669,979
U.S. Treasury Notes		1.50%		08/15/2022		140,000	140,910,651
U.S. Treasury Notes		1.63%		08/15/2022		100,000	100,703,676
U.S. Treasury Notes		1.88%		08/31/2022		90,000	90,521,762
U.S. Treasury Notes		1.50%		09/15/2022		210,000	211,598,819
U.S. Treasury Notes		1.75%		09/30/2022		100,000	100,971,671
							5,243,418,345
Total U.S. Treasury Securities (Cost $37,277,467,198)							37,277,467,198

U.S. Government Sponsored Agency Securities-8.16%
Federal Farm Credit Bank (FFCB)-3.16%
Federal Farm Credit Bank (SOFR + 0.08%)^(b)		0.13%		03/10/2022		28,000	28,000,000
Federal Farm Credit Bank (SOFR + 0.09%)^(b)		0.13%		06/17/2022		65,000	65,000,000
Federal Farm Credit Bank (SOFR + 0.20%)^(b)		0.25%		06/23/2022		12,000	12,004,748
Federal Farm Credit Bank (SOFR + 0.19%)^(b)		0.24%		07/14/2022		28,000	28,000,000
Federal Farm Credit Bank (SOFR + 0.15%)^(b)		0.19%		07/28/2022		45,000	45,000,000
Federal Farm Credit Bank (SOFR + 0.07%)^(b)		0.12%		08/11/2022		108,000	108,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		08/26/2022		97,500	97,497,588
Federal Farm Credit Bank (SOFR + 0.09%)^(b)		0.13%		10/07/2022		30,000	30,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		10/12/2022		18,000	18,000,562
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		10/21/2022		20,000	20,000,000
Federal Farm Credit Bank (SOFR + 0.08%)^(b)		0.13%		11/03/2022		35,000	35,000,000
Federal Farm Credit Bank (SOFR + 0.01%)^(b)		0.06%		11/16/2022		185,000	184,997,327
Federal Farm Credit Bank (SOFR + 0.07%)^(b)		0.12%		11/18/2022		56,000	56,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		12/01/2022		74,000	74,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		12/28/2022		350,000	350,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		02/09/2023		18,000	18,000,000
Federal Farm Credit Bank (SOFR + 0.02%)^(b)		0.07%		06/12/2023		75,000	75,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		06/14/2023		58,000	58,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		07/07/2023		143,000	143,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.07%		09/08/2023		155,000	155,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		09/18/2023		21,500	21,500,000
Federal Farm Credit Bank (SOFR + 0.04%)^(b)		0.09%		09/20/2023		25,000	25,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.07%		09/27/2023		60,000	60,000,000

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

15 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate	Maturity Date	Principal Amount (000)		Value
Federal Farm Credit Bank (FFCB)-(continued)
Federal Farm Credit Bank (SOFR + 0.06%)^(b)	0.10%	11/07/2023	$	50,000	$ 50,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)	0.11%	12/13/2023		84,000	84,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)	0.11%	01/10/2024		75,500	75,500,000
Federal Farm Credit Bank (SOFR + 0.04%)^(b)	0.09%	01/25/2024		15,000	15,000,000
					1,931,500,225

Federal Home Loan Bank (FHLB)-4.23%
Federal Home Loan Bank	0.05%	03/17/2022		200,000	199,998,812
Federal Home Loan Bank (SOFR + 0.07%)^(b)	0.12%	04/14/2022		45,000	45,000,000
Federal Home Loan Bank (SOFR + 0.07%)^(b)	0.11%	04/28/2022		28,000	28,000,000
Federal Home Loan Bank	0.06%	05/06/2022		29,000	28,999,425
Federal Home Loan Bank^(a)	0.27%	05/11/2022		244,000	243,872,476
Federal Home Loan Bank (SOFR + 0.06%)^(b)	0.11%	05/12/2022		35,000	35,000,000
Federal Home Loan Bank^(a)	0.40%	05/18/2022		114,800	114,700,507
Federal Home Loan Bank^(a)	0.40%	05/20/2022		1,101,000	1,100,021,333
Federal Home Loan Bank	2.13%	06/10/2022		55,750	56,054,443
Federal Home Loan Bank (SOFR + 0.13%)^(b)	0.18%	08/05/2022		80,000	80,000,000
Federal Home Loan Bank (SOFR + 0.09%)^(b)	0.14%	08/19/2022		380,000	380,003,070
Federal Home Loan Bank (SOFR + 0.09%)^(b)	0.13%	10/05/2022		80,000	80,000,000
Federal Home Loan Bank (SOFR + 0.06%)^(b)	0.11%	12/08/2022		63,200	63,202,161
Federal Home Loan Bank (SOFR + 0.06%)^(b)	0.11%	12/16/2022		3,500	3,500,845
Federal Home Loan Bank (SOFR + 0.03%)^(b)	0.08%	06/07/2023		125,000	125,000,000
					2,583,353,072

Federal Home Loan Mortgage Corp. (FHLMC)-0.40%
Federal Home Loan Mortgage Corp.	0.25%	06/08/2022		15,510	15,517,146
Federal Home Loan Mortgage Corp.	0.13%	07/25/2022		38,000	38,002,165
Federal Home Loan Mortgage Corp. (SOFR + 0.09%)^(b)	0.14%	09/16/2022		190,000	190,000,000
					243,519,311

Federal National Mortgage Association (FNMA)-0.00%
Federal National Mortgage Association^(a)	0.20%	03/09/2022		2,500	2,499,889

U.S. International Development Finance Corp. (DFC)-0.37%
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)	0.17%	06/15/2025		16,800	16,800,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)	0.17%	07/15/2025		18,278	18,277,780
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)	0.17%	09/15/2025		3,947	3,947,368
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)	0.17%	09/15/2026		4,750	4,750,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)	0.17%	09/15/2026		7,917	7,916,667
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)	0.17%	08/13/2027		8,000	8,000,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)	0.17%	08/13/2027		4,600	4,600,000

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

16 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. International Development Finance Corp. (DFC)-(continued)
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/30/2027	$	12,000	$ 12,000,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		02/15/2028		13,333	13,333,333
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		11/15/2028		61,364	61,363,637
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.20%		05/15/2030		7,488	7,488,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		10/15/2030		7,778	7,777,778
U.S. International Development Finance Corp. VRD Notes (3 mo. U.S. Treasury Bill Rate)^(c)		0.16%		07/09/2026		22,950	22,950,000
U.S. International Development Finance Corp. VRD Notes (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		03/15/2030		37,125	37,125,000
							226,329,563
Total U.S. Government Sponsored Agency Securities (Cost $4,987,202,060)							4,987,202,060
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-69.17% (Cost $42,264,669,258)							42,264,669,258

					Repurchase Amount

Repurchase Agreements-35.49%^(d)
ABN AMRO Bank N.V., agreement dated 02/28/2022, maturing value of $350,000,486 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $357,000,074; 1.30% - 4.50%; 06/30/2022 - 09/16/2063)		0.05%		03/01/2022		350,000,486	350,000,000
ABN AMRO Bank N.V., agreement dated 02/28/2022, maturing value of $450,000,625 (collateralized by U.S. Treasury obligations valued at $459,000,068; 0.13% - 3.38%; 06/30/2022 - 02/15/2051)		0.05%		03/01/2022		450,000,625	450,000,000
Bank of Montreal, joint term agreement dated 02/10/2022, aggregate maturing value of $250,014,583 (collateralized by domestic agency mortgage-backed securities valued at $255,000,000; 2.50% - 4.50%; 11/01/2046 - 02/01/2052)^(e)		0.06%		03/17/2022		125,007,292	125,000,000
BNP Paribas Securities Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $500,004,861 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,007; 0.00% - 7.00%; 06/21/2022 - 02/01/2052)^(e)		0.05%		03/01/2022		385,003,743	385,000,000
BofA Securities, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $745,001,035 (collateralized by domestic agency mortgage-backed securities valued at $759,900,001; 0.46% - 7.50%; 09/25/2022 - 01/01/2052)		0.05%		03/01/2022		238,000,331	238,000,000
CIBC World Markets Corp., joint term agreement dated 01/24/2022, aggregate maturing value of $500,043,333 (collateralized by domestic agency mortgage-backed securities valued at $510,000,000; 1.50% - 4.50%; 10/01/2036 - 03/01/2052)^(e)		0.06%		03/17/2022		350,030,333	350,000,000
CIBC World Markets Corp., joint term agreement dated 02/07/2022, aggregate maturing value of $350,020,319 (collateralized by U.S. Treasury obligations valued at $357,000,019; 0.00% - 4.50%; 07/14/2022 - 02/15/2051)^(e)		0.06%		03/17/2022		200,011,611	200,000,000
Citigroup Global Markets, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $400,000,556 (collateralized by U.S. Treasury obligations valued at $408,000,001; 0.00% - 0.13%; 01/15/2023 - 02/15/2051)		0.05%		03/01/2022		113,000,157	113,000,000

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

17 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate	Maturity Date	Repurchase Amount		Value
Citigroup Global Markets, Inc., joint term agreement dated 02/22/2022, aggregate maturing value of $500,005,833 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,029; 0.00% - 17.46%; 07/31/2023 - 07/20/2070)^(e)	0.06%	03/01/2022	$	400,004,667	$ 400,000,000
Credit Agricole Corporate & Investment Bank, agreement dated 02/28/2022, maturing value of $200,000,278 (collateralized by a domestic agency mortgage-backed security valued at $204,000,001; 2.00%; 01/20/2051)	0.05%	03/01/2022		200,000,278	200,000,000
Credit Agricole Corporate & Investment Bank, joint open agreement dated 12/01/2021 (collateralized by U.S. Treasury obligations valued at $2,032,860,462; 0.13% - 3.13%; 04/15/2024 - 11/15/2050)^(f)	0.05%	03/01/2022		1,242,047,955	1,242,000,000
Federal Reserve Bank of New York, joint agreement dated 02/28/2022, aggregate maturing value of $800,001,111 (collateralized by U.S. Treasury obligations valued at $800,001,169; 0.13%; 11/30/2022)	0.05%	03/01/2022		600,000,833	600,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), agreement dated 02/28/2022, maturing value of $3,500,004,861 (collateralized by U.S. Treasury obligations valued at $3,570,000,054; 0.13% - 3.88%; 01/15/2026 - 02/15/2044)	0.05%	03/01/2022		3,500,004,861	3,500,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), joint agreement dated 02/28/2022, aggregate maturing value of $612,000,085 (collateralized by U.S. Treasury obligations valued at $624,240,130; 0.00%; 08/11/2022)	0.01%	03/01/2022		412,000,057	412,000,000
Fixed Income Clearing Corp. - State Street Bank, agreement dated 02/28/2022, maturing value of $300,000,083 (collateralized by U.S. Treasury obligations valued at $306,000,068; 0.13% - 0.47%; 04/15/2022 - 04/30/2022)	0.01%	03/01/2022		300,000,083	300,000,000
Goldman Sachs & Co., agreement dated 02/28/2022, maturing value of $500,000,139 (collateralized by U.S. Treasury obligations valued at $510,000,000; 0.00% - 7.63%; 04/07/2022 - 02/15/2052)	0.01%	03/01/2022		500,000,139	500,000,000
Goldman Sachs & Co., term agreement dated 02/22/2022, maturing value of $295,003,155 (collateralized by U.S. Treasury obligations valued at $300,900,027; 0.00% - 2.50%; 08/15/2022 - 02/28/2026)^(e)	0.06%	03/01/2022		295,003,155	295,000,000
ING Financial Markets, LLC, joint term agreement dated 02/22/2022, aggregate maturing value of $200,008,944 (collateralized by domestic agency mortgage-backed securities valued at $204,000,000; 1.50% - 4.50%; 10/01/2029 - 05/01/2058)	0.07%	03/17/2022		130,005,814	130,000,000
ING Financial Markets, LLC, joint term agreement dated 12/28/2021, aggregate maturing value of $350,070,000 (collateralized by U.S. government sponsored agency obligations and domestic agency mortgage-backed securities valued at $357,000,395; 0.00% - 7.50%; 12/28/2022 - 05/01/2058)	0.08%	03/28/2022		300,060,000	300,000,000
ING Financial Markets, LLC, term agreement dated 02/07/2022, maturing value of $200,010,667 (collateralized by domestic agency mortgage-backed securities valued at $204,000,000; 1.50% - 7.50%; 06/01/2027 - 02/01/2052)	0.06%	03/11/2022		200,010,667	200,000,000
ING Financial Markets, LLC, term agreement dated 02/10/2022, maturing value of $275,013,292 (collateralized by U.S. government sponsored agency obligations and domestic agency mortgage-backed securities valued at $280,500,646; 0.00% - 5.00%; 04/05/2022 - 02/01/2052)	0.06%	03/11/2022		275,013,292	275,000,000
J.P. Morgan Securities LLC, joint agreement dated 02/28/2022, aggregate maturing value of $1,000,001,667 (collateralized by domestic agency mortgage-backed securities valued at $1,020,000,000; 0.46% - 7.50%; 06/25/2025 - 10/16/2062)	0.06%	03/01/2022		800,001,333	800,000,000
J.P. Morgan Securities LLC, joint open agreement dated 03/27/2020 (collateralized by U.S. Treasury obligations valued at $867,001,467; 0.00% - 2.38%; 03/03/2022 - 05/15/2050)^(f)	0.05%	03/01/2022		150,005,792	150,000,000
J.P. Morgan Securities LLC, joint open agreement dated 07/01/2021 (collateralized by domestic agency mortgage-backed securities valued at $239,700,000; 0.47% - 6.00%; 01/01/2026 - 10/15/2061)^(f)	0.06%	03/01/2022		210,009,742	210,000,000

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

18 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate	Maturity Date	Repurchase Amount		Value
J.P. Morgan Securities LLC, joint open agreement dated 07/01/2021 (collateralized by domestic agency mortgage-backed securities valued at $280,500,035; 1.85% - 6.00%; 07/01/2026 - 02/20/2052)^(f)	0.07%	03/01/2022	$	240,013,000	$ 240,000,000
J.P. Morgan Securities LLC, joint open agreement dated 10/15/2019 (collateralized by domestic agency mortgage-backed securities valued at $382,500,005; 0.46% - 7.50%; 12/15/2026 - 02/16/2058)^(f)	0.07%	03/01/2022		275,014,896	275,000,000
Metropolitan Life Insurance Co., joint term agreement dated 02/23/2022, aggregate maturing value of $350,014,295 (collateralized by U.S. Treasury obligations valued at $358,935,903; 0.00%; 08/15/2027 - 11/15/2045)^(e)	0.07%	03/02/2022		170,004,314	170,002,000
Mitsubishi UFJ Trust & Banking Corp., agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by domestic agency mortgage-backed securities valued at $510,000,000; 0.30% - 3.50%; 08/25/2027 - 01/20/2052)	0.05%	03/01/2022		500,000,694	500,000,000
Mitsubishi UFJ Trust & Banking Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $768,135,455 (collateralized by U.S. Treasury obligations valued at $788,525,747; 1.13%; 02/28/2025 - 02/28/2027)^(e)	0.07%	03/02/2022		338,192,103	338,187,500
Mizuho Securities (USA) LLC, agreement dated 02/28/2022, maturing value of $200,000,278 (collateralized by U.S. Treasury obligations valued at $204,000,019; 0.00%; 03/31/2022 - 08/04/2022)	0.05%	03/01/2022		200,000,278	200,000,000
Prudential Insurance Co. of America, agreement dated 02/28/2022, maturing value of $509,883,350 (collateralized by U.S. Treasury obligations valued at $528,644,040; 0.00%; 02/15/2026 - 11/15/2043)	0.06%	03/01/2022		509,883,350	509,882,500
RBC Capital Markets LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $750,001,875 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $765,000,244; 0.13% - 8.00%; 03/01/2022 - 08/20/2065)^(e)(g)	0.09%	03/01/2022		600,001,500	600,000,000
RBC Dominion Securities Inc., agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,049; 0.00% - 5.50%; 07/15/2024 - 01/15/2052)	0.05%	03/01/2022		500,000,694	500,000,000
RBC Dominion Securities Inc., joint term agreement dated 01/11/2022, aggregate maturing value of $500,049,167 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,022; 0.00% - 6.00%; 03/31/2022 - 01/15/2052)^(e)	0.06%	03/11/2022		250,024,583	250,000,000
RBC Dominion Securities Inc., joint term agreement dated 01/19/2022, aggregate maturing value of $1,000,076,389 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 5.50%; 02/15/2030 - 01/15/2052)^(e)	0.06%	03/10/2022		875,066,840	875,000,000
RBC Dominion Securities Inc., joint term agreement dated 02/08/2022, aggregate maturing value of $500,016,667 (collateralized by U.S. Treasury obligations valued at $510,000,124; 0.13% - 6.00%; 07/15/2024 - 02/15/2050)^(e)	0.05%	03/04/2022		200,006,667	200,000,000
RBC Dominion Securities Inc., joint term agreement dated 02/24/2022, aggregate maturing value of $500,004,861 (collateralized by U.S. Treasury obligations valued at $510,000,087; 0.13% - 5.25%; 04/30/2022 - 02/15/2052)^(e)	0.05%	03/03/2022		250,002,431	250,000,000
Royal Bank of Canada, joint term agreement dated 02/11/2022, aggregate maturing value of $100,004,583 (collateralized by U.S. Treasury obligations valued at $102,000,076; 0.13% - 2.75%; 05/15/2022 - 11/15/2041)^(e)	0.05%	03/16/2022		50,002,292	50,000,000
Societe Generale, joint agreement dated 02/28/2022, aggregate maturing value of $1,600,002,222 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,632,000,047; 0.00% - 7.13%; 03/15/2022 - 02/01/2052)	0.05%	03/01/2022		1,350,001,875	1,350,000,000

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

19 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate			Maturity Date	Repurchase Amount		Value
Societe Generale, joint open agreement dated 01/05/2022 (collateralized by U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 7.63%; 03/01/2022 - 02/15/2052)^(f)		0.05	%	03/01/2022	$	575,000,799	$	575,000,000


Societe Generale, joint open agreement dated 01/12/2022 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,530,000,206; 0.00% - 7.63%; 03/01/2022 - 10/01/2051)^(f)		0.05	%	03/01/2022		890,001,236		890,000,000


Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)		0.06	%	03/01/2022		455,713,751		455,712,991


Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,700,003,750 (collateralized by U.S. Treasury obligations valued at $2,754,000,090; 0.38% - 2.88%; 07/31/2022 - 02/15/2051)		0.05	%	03/01/2022		1,672,156,235		1,672,153,913


TD Securities (USA) LLC, term agreement dated 02/23/2022, maturing value of $55,000,588 (collateralized by a U.S. Treasury obligation valued at $56,100,009; 2.75%; 11/15/2023)^(e)		0.06	%	03/02/2022		55,000,588		55,000,000


Total Repurchase Agreements (Cost $21,680,938,904)								21,680,938,904


TOTAL INVESTMENTS IN SECURITIES-104.66% (Cost $63,945,608,162)								63,945,608,162


OTHER ASSETS LESS LIABILITIES-(4.66)%								(2,849,604,491	)


NET ASSETS-100.00%							$	61,096,003,671

Investment Abbreviations:

SOFR -Secured Overnight Financing Rate

VRD -Variable Rate Demand

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(c)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(d)	Principal amount equals value at period end. See Note 1I.

^(e)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(f)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(g)	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7	30.1	%
8-30	5.5
31-60	15.4
61-90	9.7
91-180	25.6
181+	13.7

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

20 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Treasury Obligations Portfolio


	Interest Rate		Maturity Date	Principal Amount (000)		Value
U.S. Treasury Securities-113.88%
U.S. Treasury Bills-96.41%^(a)
U.S. Treasury Bills		0.06%	03/01/2022	$	73,600	$ 73,600,000
U.S. Treasury Bills		0.01%-0.05%	03/03/2022		40,700	40,699,891
U.S. Treasury Bills		0.06%	03/08/2022		84,000	83,999,469
U.S. Treasury Bills		0.06%-0.07%	03/10/2022		32,000	31,999,504
U.S. Treasury Bills		0.02%-0.05%	03/15/2022		105,000	104,998,816
U.S. Treasury Bills		0.06%	03/17/2022		20,500	20,499,499
U.S. Treasury Bills		0.05%-0.08%	03/22/2022		86,938	86,933,792
U.S. Treasury Bills		0.14%	03/29/2022		88,600	88,594,856
U.S. Treasury Bills		0.09%	03/31/2022		15,650	15,648,891
U.S. Treasury Bills		0.14%	04/05/2022		30,000	29,995,916
U.S. Treasury Bills		0.09%	04/07/2022		30,000	29,997,225
U.S. Treasury Bills		0.25%	04/12/2022		70,000	69,979,583
U.S. Treasury Bills		0.12%	04/14/2022		20,000	19,997,030
U.S. Treasury Bills		0.25%	04/19/2022		80,000	79,972,778
U.S. Treasury Bills		0.07%-0.17%	04/21/2022		21,000	20,996,391
U.S. Treasury Bills		0.11%	04/26/2022		70,000	69,981,022
U.S. Treasury Bills		0.19%	04/28/2022		21,000	20,993,572
U.S. Treasury Bills		0.21%	05/03/2022		8,000	7,997,130
U.S. Treasury Bills		0.24%	05/05/2022		30,000	29,987,000
U.S. Treasury Bills		0.26%	05/10/2022		1,467	1,466,265
U.S. Treasury Bills		0.29%	05/12/2022		30,000	29,982,600
U.S. Treasury Bills		0.23%	05/17/2022		11,000	10,994,590
U.S. Treasury Bills		0.40%	05/19/2022		7,000	6,993,902
U.S. Treasury Bills		0.28%	05/24/2022		11,000	10,993,058
U.S. Treasury Bills		0.38%	05/26/2022		30,000	29,972,767
U.S. Treasury Bills		0.29%	05/31/2022		20,000	19,985,781
U.S. Treasury Bills		0.09%	06/02/2022		54,000	53,953,570
U.S. Treasury Bills		0.34%	06/07/2022		15,000	14,986,117
U.S. Treasury Bills		0.07%	06/16/2022		3,000	2,999,376
U.S. Treasury Bills		0.55%	06/21/2022		16,000	15,972,622
U.S. Treasury Bills		0.57%	06/28/2022		29,000	28,945,359
U.S. Treasury Bills		0.38%	07/07/2022		7,000	6,990,505
U.S. Treasury Bills		0.71%	08/25/2022		12,000	11,958,110
						1,173,066,987

U.S. Treasury Floating Rate Notes-17.06%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)		0.47%	04/30/2022		55,000	55,002,639
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%	07/31/2022		22,000	22,000,544
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%	10/31/2022		45,000	44,999,181
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)		0.41%	01/31/2023		11,000	11,001,688
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%	04/30/2023		19,000	19,000,897

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

21 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Obligations Portfolio–(continued)


	Interest Rate	Maturity Date	Principal Amount (000)		Value


U.S. Treasury Floating Rate Notes-(continued)
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)	0.39%	07/31/2023	$	17,500	$	17,500,602


U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)	0.40%	10/31/2023		30,000		30,000,861


U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate -0.02%)^(b)	0.35%	01/31/2024		8,000		7,997,358


						207,503,770



U.S. Treasury Notes-0.41%
U.S. Treasury Notes (Cost $5,036,995)	1.88%	07/31/2022		5,000		5,036,995


TOTAL INVESTMENTS IN SECURITIES-113.88% (Cost $1,385,607,752)						1,385,607,752


OTHER ASSETS LESS LIABILITIES-(13.88)%						(168,891,225	)


NET ASSETS-100.00%					$	1,216,716,527

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

Portfolio Composition by Maturity*

In days, as of 02/28/2022



1-7	8.3	%
8-30	30.1
31-60	25.8
61-90	13.2
91-180	13.2
181+	9.4

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

22 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio


	Interest Rate			Maturity Date		Principal Amount (000)		Value
Municipal Obligations-99.97%
Alabama-3.24%
Mobile (County of), AL Industrial Development Authority (SSAB Alabama, Inc.); Series 2010 A, VRD RB (LOC - Swedbank AB)^(a)(b)(c)		0.28	%		07/01/2040		$5,500	$	5,500,000

Arizona-3.20%
Casa Grande (City of), AZ Industrial Development Authority (Quail Gardens Apartments); Series 2001 A, Ref. VRD RB (CEP - FNMA)^(b)		0.20	%		06/15/2031		2,685		2,685,000
Sierra Vista (City of), AZ Industrial Development Authority (Mountain Steppes Apartments); Series 2001 A, Ref. VRD RB (CEP - FNMA)^(b)		0.20	%		06/15/2031		2,745		2,745,000
									5,430,000

California-1.47%
California (State of);
Series 2022 A-1, Commercial Paper Notes (LOC - Wells Fargo Bank N.A.)^(c)		0.17	%		03/01/2022		1,500		1,500,000
Series 2022 A-5, Commercial Paper Notes (LOC - U.S. Bank N.A.)^(c)		0.17	%		03/01/2022		1,000		1,000,000
									2,500,000

Delaware-2.47%
Delaware (State of) Economic Development Authority (Goodwill Industries of Delaware & Delaware County); Series 2006, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.20	%		09/01/2036		2,655		2,655,000
Delaware (State of) Economic Development Authority (YMCA of Delaware); Series 2007, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.21	%		05/01/2036		1,535		1,535,000
									4,190,000

District of Columbia-1.66%
District of Columbia (Medlantic/Helix); Series 1998 A, VRD RB (LOC - TD Bank N.A.)^(a)(b)(c)		0.19	%		08/15/2038		2,820		2,820,000

Florida-6.01%
Palm Beach (County of), FL (Henry Morrison Flagler Museum); Series 2003, VRD RB (LOC - Northern Trust Co. (The))^(b)(c)		0.25	%		11/01/2036		2,725		2,725,000
Palm Beach (County of), FL (The Raymond F. Kravis Center for the Performing Arts, Inc.); Series 2002, VRD RB (LOC - Northern Trust Co. (The))^(b)(c)		0.21	%		07/01/2032		2,400		2,400,000
Sarasota (County of), FL Public Hospital District (Sarasota Memorial Hospital); Series 2008 B, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(b)(c)		0.20	%		07/01/2037		5,075		5,075,000
									10,200,000

Georgia-1.13%
Atlanta (City of), GA Georgia Development Authority (Perkins + Will, Inc.); Series 2010, VRD RB (LOC - BMO Harris Bank N.A.)^(a)(b)(c)		0.20	%		11/01/2030		1,920		1,920,000

Illinois-10.32%
Illinois (State of) Educational Facilities Authority (The Adler Planetarium); Series 1997, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.20	%		04/01/2031		5,000		5,000,000
Illinois (State of) Finance Authority (Northwestern University); Subseries 2008 B, VRD RB^(b)		0.20	%		12/01/2046		5,730		5,730,000
Illinois (State of) Finance Authority (Uhlich Children’s Home); Series 2002, VRD IDR (LOC - U.S. Bank N.A.)^(b)(c)		0.20	%		10/01/2033		2,625		2,625,000
Illinois (State of) Housing Development Authority (Foxview I & II Apartments); Series 2008, VRD MFH RB (LOC - FHLMC)^(b)(c)		0.13	%		01/01/2041		4,160		4,160,000
									17,515,000

Indiana-1.83%
Huntington (City of), IN (Huntington University); Series 2007, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(b)(c)		0.25	%		08/01/2037		3,105		3,105,000

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

23 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
Iowa-1.65%
Iowa (State of) Finance Authority (CJ Bio America); Series 2021, Ref. VRD RB^(a)(b)(d)		0.24%		12/01/2041		$2,805	$	2,805,000

Louisiana-3.64%
Louisiana (State of) Offshore Terminal Authority Deepwater Port (Loop LLC); Series 2013 B, Ref. VRD RB (LOC - JPMorgan Chase Bank N.A.)^(b)(c)		0.23%		09/01/2033		1,000		1,000,000
Louisiana (State of) Public Facilities Authority (CHRISTUS Health); Series 2009 B-3, Ref. VRD RB (LOC - Bank of New York Mellon (The))^(b)(c)		0.21%		07/01/2047		4,085		4,085,000
Series 2009 B-1, Ref. VRD RB (LOC - Bank of New York Mellon (The))^(b)(c)		0.21%		07/01/2047		1,100		1,100,000
								6,185,000

Maryland-0.59%
Montgomery (County of), MD; Series 2010 B, Commercial Paper Notes		0.10%		03/01/2022		1,000		1,000,000

Massachusetts-4.71%
Massachusetts (State of) Department of Transportation; Series 2010 A-1, VRD Metropolitan Highway System RB (LOC - Citibank N.A.)^(b)(c)		0.16%		01/01/2037		3,000		3,000,000
Massachusetts (State of) Health & Educational Facilities Authority; Series 2021 EE, Commercial Paper Notes		0.09%		03/01/2022		5,000		5,000,000
								8,000,000

Michigan-3.15%
Kent (County of), MI Hospital Finance Authority (Spectrum Health System); Series 2008 C, Ref. VRD RB (LOC - Bank of New York Mellon (The))^(b)(c)		0.21%		01/15/2026		820		820,000
Michigan State University Board of Trustees; Series 2000 A-1, VRD RB^(b)		0.21%		08/15/2030		3,620		3,620,000
Series 2000 A-2, VRD RB^(b)		0.21%		08/15/2030		910		910,000
								5,350,000

Minnesota-5.82%
Burnsville (City of), MN (Bridgeway Apartments L.P.); Series 2003, Ref. VRD RB (CEP - FNMA)^(b)		0.28%		10/15/2033		1,175		1,175,000
Oak Park Heights (City of), MN (Boutwells Landing); Series 2005, Ref. VRD RB (CEP - FHLMC)^(b)		0.19%		11/01/2035		3,700		3,700,000
St. Paul (City of), MN Housing & Redevelopment Authority (Highland Ridge, L.P.); Series 2003, Ref. VRD RB (CEP - FHLMC)^(b)		0.19%		10/01/2033		1,000		1,000,000
University of Minnesota; Series 2022 H, Commercial Paper Notes		0.26%		03/17/2022		4,000		4,000,000
								9,875,000

Mississippi-1.95%
Mississippi Business Finance Corp. (Chevron U.S.A., Inc.); Series 2010 C, VRD IDR^(b)		0.22%		12/01/2030		585		585,000
Series 2010 E, VRD IDR^(b)		0.22%		12/01/2030		2,730		2,730,000
								3,315,000

Missouri-1.59%
Bridgeton (City of), MO Industrial Development Authority (Stolze Printing); Series 2010, VRD RB (LOC - FHLB of Chicago)^(b)(c)		0.20%		11/01/2037		1,320		1,320,000
Missouri (State of) Development Finance Board (Kopytek Printing); Series 2010, VRD IDR (LOC - FHLB of Chicago)^(b)(c)		0.35%		08/01/2038		1,385		1,385,000
								2,705,000

New Jersey-2.94%
New Jersey (State of) Health Care Facilities Financing Authority (Virtua Health); Series 2009 D, VRD RB (LOC - TD Bank N.A.)^(a)(b)(c)		0.18%		07/01/2043		5,000		5,000,000

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

24 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
New York-4.08%
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.19%		11/15/2046		$3,320	$	3,320,000
New York (State of) Energy Research & Development Authority (Consolidated Edison Co. of New York, Inc.); Subseries 2005 A-2, VRD RB (LOC - Mizuho Bank Ltd.)^(a)(b)(c)		0.19%		05/01/2039		3,600		3,600,000
								6,920,000

North Carolina-0.76%
North Carolina (State of) Educational Facilities Finance Agency (Duke University); Series 1992 A, VRD RB^(b)		0.15%		06/01/2027		1,285		1,285,000

Ohio-1.67%
Lorain (County of), OH Port Authority (St. Ignatius High School); Series 2008, VRD RB (LOC - U.S. Bank N.A.)^(b)(c)		0.20%		08/02/2038		2,835		2,835,000

Pennsylvania-1.55%
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.19%		06/01/2037		1,320		1,320,000
Lebanon (County of), PA Health Facilities Authority (E.C.C. Retirement Village); Series 2000, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.20%		10/15/2025		310		310,000
Philadelphia (City of), PA; Series 2022 A, Commercial Paper Notes^(a)		0.35%		03/24/2022		1,000		1,000,000
								2,630,000

Rhode Island-2.65%
Rhode Island Health & Educational Building Corp. (Brown University); Series 2003 B, VRD RB^(b)		0.21%		09/01/2043		4,500		4,500,000

Texas-19.92%
Board of Regents of the University of Texas System; Series 2008 B, VRD RB^(b)		0.17%		08/01/2025		1,615		1,615,000
Garland (City of), TX; Series 2021, Commercial Paper Notes		0.13%		04/05/2022		5,000		5,000,000
Harris (County of), TX Hospital District; Series 2010, Ref. VRD RB (LOC - JPMorgan Chase Bank N.A.)^(b)(c)		0.21%		02/15/2042		5,700		5,700,000
Houston (City of), TX; Series 2018 E-2, GO Commercial Paper Notes		0.22%		03/16/2022		4,000		4,000,000
Houston (City of), TX (Combined Utility System); Series 2004 B-3, Ref. VRD RB (LOC - Sumitomo Mitsui Banking Corp.)^(a)(b)(c)		0.21%		05/15/2034		5,250		5,250,000
San Gabriel Health Facilities Development Corp. (YMCA of Greater Williamson County); Series 2005, VRD RB (LOC - JPMorgan Chase Bank N.A.)^(b)(c)		0.24%		04/01/2026		1,890		1,890,000
Texas (State of) Department of Housing & Community Affairs (Costa Mariposa Apartments); Series 2009, VRD RB (CEP - FHLMC)^(b)		0.26%		05/01/2042		2,375		2,375,000
Texas A&M University System Board of Regents; Series 2021 B, Commercial Paper Notes		0.14%		06/02/2022		5,000		5,000,000
University of Texas Board of Regents; Series 2018, Revenue Financing System Commercial Paper Notes		0.29%		04/06/2022		3,000		3,000,000
								33,830,000

Virginia-2.53%
Norfolk (City of), VA; Series 2007, VRD GO Bonds^(b)		0.21%		08/01/2037		4,300		4,300,000

Washington-3.25%
Washington (State of) Housing Finance Commission (Kitts Corner Apartments); Series 2014, VRD RB (LOC - FHLB of San Francisco)^(b)(c)		0.13%		09/01/2049		3,375		3,375,000
Washington (State of) Housing Finance Commission (Redmond Ridge Apartments); Series 2017, VRD RB (LOC - FHLB of San Francisco)^(b)(c)		0.13%		11/01/2047		2,145		2,145,000
								5,520,000

West Virginia-4.29%
Cabell (County of), WV (Provident Group - Marshall Properties LLC - Marshall University); Series 2010 A, VRD RB (LOC - Bank of America N.A.)^(b)(c)		0.21%		07/01/2039		845		845,000

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

25 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
West Virginia-(continued)
West Virginia (State of) Hospital Finance Authority (Cabell Huntington Hospital, Inc.); Series 2008 B, Ref. VRD RB (LOC - Branch Banking & Trust Co.)^(b)(c)		0.27%		01/01/2034		$6,445	$	6,445,000
								7,290,000

Wisconsin-1.90%
Lima (Town of), WI (Sharon S. Richardson Community Hospice, Inc.); Series 2009, VRD RB (LOC - FHLB of Chicago)^(b)(c)		0.21%		10/01/2042		3,230		3,230,000
TOTAL INVESTMENTS IN SECURITIES^(e)(f)-99.97% (Cost $169,755,000)								169,755,000
OTHER ASSETS LESS LIABILITIES-0.03%								54,772
NET ASSETS-100.00%							$	169,809,772


Investment Abbreviations:
CEP		- Credit Enhancement Provider
FHLB		- Federal Home Loan Bank
FHLMC		- Federal Home Loan Mortgage Corp.
FNMA		- Federal National Mortgage Association
GO		- General Obligation
IDR		- Industrial Development Revenue Bonds
LOC		- Letter of Credit
MFH		- Multi-Family Housing
RB		- Revenue Bonds
Ref.		- Refunding
VRD		- Variable Rate Demand

Notes to Schedule of Investments:

^(a)	The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: Canada:5.7%;Japan:5.2%;other countries less than 5% each: 5.5%.

^(b)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(c)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(d)

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 value of this security at February 28, 2022 represented 1.65% of the Fund’s Net Assets.

^(e)	Also represents cost for federal income tax purposes.

^(f)


Entities		Percentage
PNC Bank N.A.		8.3%
Federal Home Loan Banks		6.8
Federal Home Loan Mortgage Corporation		6.6
Wells Fargo Bank N.A.		5.7
JPMorgan Chase Bank, N.A.		5.1

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

26 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7		87.0%
8-30		5.3
31-60		4.7
61-90		0.0
91-180		3.0
181+		0.0

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

27 Short-Term Investments Trust

Statements of Assets and Liabilities

February 28, 2022

(Unaudited)


												Invesco Treasury			Invesco Tax-Free
	Invesco Liquid			Invesco STIC			Invesco Treasury			Invesco Government		Obligations			Cash Reserve
	Assets Portfolio			Prime Portfolio			Portfolio			& Agency Portfolio		Portfolio			Portfolio

Assets:

Investments in unaffiliated securities, at value	$	1,690,271,922		$	191,977,496		$	13,165,027,105		$	42,264,669,258	$	1,385,607,752		$	169,755,000


Repurchase agreements, at value and cost		550,898,981			84,326,230			9,643,911,550			21,680,938,904		-			-


Cash		-			-			-			-		37,752			-


Receivable for:
Fund shares sold		-			-			2,845			108,705		-			-

Interest		155,860			8,158			13,433,654			29,052,274		73,642			22,965

Fund expenses absorbed		106,833			33,665			1,417,208			2,190,429		109,348			87,930


Investment for trustee deferred compensation and retirement plans		3,524,447			951,741			2,115,902			963,666		102,725			329,541

Other assets		-			132,217			447,526			588,715		792			31,227

Total assets		2,244,958,043			277,429,507			22,826,355,790			63,978,511,951		1,385,932,011			170,226,663


Liabilities:

Payable for:
Investments purchased		29,986,825			13,993,951			898,693,915			2,846,428,808		168,883,059			-

Fund shares reacquired		-			-			12,000			24,638,227		-			-

Amount due custodian		-			-			1,574,127			1,508,529		-			-

Dividends		12,043			2,307			174,513			1,218,332		9,461			1,333

Accrued fees to affiliates		332,171			45,296			3,646,596			7,134,843		165,808			33,290

Accrued trustees’ and officers’ fees and benefits		5,730			3,681			29,867			69,304		4,476			3,395

Accrued operating expenses		28,399			5,900			282,157			288,795		35,540			30,140

Trustee deferred compensation and retirement plans		3,750,354			1,006,111			2,394,342			1,221,442		117,140			348,733

Total liabilities		34,115,522			15,057,246			906,807,517			2,882,508,280		169,215,484			416,891

Net assets applicable to shares outstanding	$	2,210,842,521		$	262,372,261		$	21,919,548,273		$	61,096,003,671	$	1,216,716,527		$	169,809,772


Net assets consist of:

Shares of beneficial interest	$	2,214,068,700		$	263,115,662		$	21,920,415,657		$	61,095,416,116	$	1,216,782,664		$	170,089,160

Distributable earnings (loss)		(3,226,179	)		(743,401	)		(867,384	)		587,555		(66,137	)		(279,388	)

	$	2,210,842,521		$	262,372,261		$	21,919,548,273		$	61,096,003,671	$	1,216,716,527		$	169,809,772


Net Assets:

Institutional Class	$	2,204,979,174		$	261,269,078		$	18,241,859,039		$	53,964,770,211	$	1,098,426,693		$	135,656,602

Private Investment Class	$	2,885,966		$	473,512		$	312,889,460		$	562,429,844	$	13,703,576		$	11,700,511

Personal Investment Class	$	10,246		$	92,856		$	379,824,634		$	15,716,834	$	10,077,798		$	1,333,813

Cash Management Class	$	2,385,218		$	428,281		$	476,970,117		$	956,426,056	$	78,410		$	4,202,044

Reserve Class	$	211,505		$	87,041		$	1,678,474,426		$	538,091,162	$	90,998,450		$	15,429,661

Resource Class	$	247,323		$	385		$	38,293,629		$	134,028,878	$	98,111		$	1,476,862

Corporate Class	$	23,129		$	21,108		$	279,646,266		$	1,018,276,963	$	3,333,489		$	10,279

CAVU Securities Class	$	99,960		$	-		$	511,590,702		$	3,906,263,723	$	-		$	-

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

28 Short-Term Investments Trust

Statements of Assets and Liabilities–(continued)

February 28, 2022

(Unaudited)


									Invesco Treasury		Invesco Tax-Free
	Invesco Liquid		Invesco STIC		Invesco Treasury		Invesco Government		Obligations		Cash Reserve
	Assets Portfolio		Prime Portfolio		Portfolio		& Agency Portfolio		Portfolio		Portfolio


Shares outstanding, no par value, unlimited number of shares authorized:

Institutional Class		2,205,019,784		261,262,354		18,240,410,505		53,964,110,943		1,098,435,692		135,636,048

Private Investment Class		2,886,030		473,500		312,866,402		562,417,907		13,703,762		11,698,732

Personal Investment Class		10,246		92,854		379,787,513		15,716,633		10,077,890		1,333,647

Cash Management Class		2,385,270		428,270		476,928,857		956,415,735		78,412		4,201,456

Reserve Class		211,509		87,039		1,678,353,435		538,081,580		90,998,347		15,427,388

Resource Class		247,328		385		38,290,367		134,025,688		98,112		1,476,639

Corporate Class		23,130		21,107		279,625,136		1,018,275,908		3,333,522		10,277

CAVU Securities Class		99,962		-		511,545,921		3,906,258,431		-		-

Net asset value, offering and redemption price per share for each class	$	1.0000	$	1.0000	$	1.00	$	1.00	$	1.00	$	1.00

Cost of Investments	$	2,241,779,487	$	276,300,889	$	22,808,938,655	$	63,945,608,162	$	1,385,607,752	$	169,755,000

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

29 Short-Term Investments Trust

Statements of Operations

For the six months ended February 28, 2022

(Unaudited)


													Invesco Treasury			Invesco Tax-Free
	Invesco Liquid			Invesco STIC			Invesco Treasury			Invesco Government			Obligations			Cash Reserve
	Assets Portfolio			Prime Portfolio			Portfolio			& Agency Portfolio			Portfolio			Portfolio

Investment income:

Interest	$	1,870,765		$	163,870		$	9,396,711			$ 22,014,594		$	446,063		$	64,820


Expenses:

Advisory fees		1,538,049			194,005			16,592,349			27,022,435			701,350			156,141

Administrative services fees		461,582			57,036			4,949,534			11,947,185			221,111			34,579

Custodian fees		26,384			9,192			203,379			186,726			5,734			2,572

Distribution fees:
Private Investment Class		4,297			832			431,096			813,131			17,946			13,527

Personal Investment Class		27			253			868,352			29,956			18,366			3,039

Cash Management Class		1,037			196			192,510			360,118			60			1,764

Reserve Class		925			375			5,311,944			2,244,581			286,523			71,520

Resource Class		291			-			47,971			100,170			78			1,171

Corporate Class		4			3			39,942			129,084			549			2

Transfer agent fees		92,283			11,640			995,541			2,432,019			46,385			7,026

Trustees’ and officers’ fees and benefits		15,799			9,952			81,950			201,650			12,307			9,447

Registration and filing fees		53,276			41,241			472,941			393,620			69,312			51,606

Reports to shareholders		8,372			6,367			31,453			26,728			6,900			13,302

Professional services fees		27,007			21,757			80,198			137,188			24,164			21,099

Other		65,381			33,080			206,536			302,178			56,799			16,536

Total expenses		2,294,714			385,929			30,505,696			46,326,769			1,467,584			403,331

Less: Fees waived and expenses reimbursed		(547,540	)		(235,281	)		(22,239,477	)		(31,376,941	)		(1,075,990	)		(346,495	)

Net expenses		1,747,174			150,648			8,266,219			14,949,828			391,594			56,836

Net investment income		123,591			13,222			1,130,492			7,064,766			54,469			7,984

Realized and unrealized gain (loss) from:

Net realized gain (loss) from unaffiliated investment securities		3,959			18			337,662			26,979			(17,701	)		-

Change in net unrealized appreciation (depreciation) of unaffiliated investment securities		(771,504	)		3,071			-			-			-			-

Net realized and unrealized gain (loss)		(767,545	)		3,089			337,662			26,979			(17,701	)		-

Net increase (decrease) in net assets resulting from operations	$	(643,954	)	$	16,311		$	1,468,154			$ 7,091,745		$	36,768		$	7,984

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

30 Short-Term Investments Trust

Statements of Changes in Net Assets

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Liquid Assets Portfolio						Invesco STIC Prime Portfolio

	February 28, 2022			August 31, 2021			February 28, 2022			August 31, 2021

Operations:
Net investment income	$	123,591		$	1,034,618		$	13,222		$	24,474

Net realized gain		3,959			2,613			18			552

Change in net unrealized appreciation (depreciation)		(771,504	)		(496,709	)		3,071			(2,800	)

Net increase (decrease) in net assets resulting from operations		(643,954	)		540,522			16,311			22,226


Distributions to shareholders from distributable earnings:
Institutional Class		(123,275	)		(1,033,839	)		(13,153	)		(24,275	)

Private Investment Class		(146	)		(318	)		(29	)		(92	)

Personal Investment Class		(2	)		(4	)		(6	)		(31	)

Cash Management Class		(133	)		(359	)		(25	)		(52	)

Reserve Class		(12	)		(29	)		(5	)		(11	)

Resource Class		(15	)		(40	)		(2	)		(9	)

Corporate Class		(2	)		(13	)		(2	)		(4	)

CAVU Securities Class		(6	)		(16	)		-			-

Total distributions from distributable earnings		(123,591	)		(1,034,618	)		(13,222	)		(24,474	)


Share transactions-net:
Institutional Class		(150,618,800	)		(201,574,311	)		39,548,244			(99,033,118	)

Private Investment Class		(5,137	)		(648,893	)		(131,663	)		(671,036	)

Personal Investment Class		-			-			4			(302,491	)

Cash Management Class		(535,901	)		(24,434	)		(67,764	)		(7,793	)

Reserve Class		(4,019	)		(62,582	)		4			(18,402	)

Resource Class		(114,813	)		(3,337	)		-			(122,205	)

Corporate Class		1			(15,522	)		1			4

CAVU Securities Class		-			100,002			-			-

Net increase (decrease) in net assets resulting from share transactions		(151,278,669	)		(202,229,077	)		39,348,826			(100,155,041	)

Net increase (decrease) in net assets		(152,046,214	)		(202,723,173	)		39,351,915			(100,157,289	)


Net assets:
Beginning of period		2,362,888,735			2,565,611,908			223,020,346			323,177,635

End of period	$	2,210,842,521		$	2,362,888,735		$	262,372,261		$	223,020,346

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

31 Short-Term Investments Trust

Statements of Changes in Net Assets–(continued)

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Treasury Portfolio						Invesco Government & Agency Portfolio

	February 28, 2022			August 31, 2021			February 28, 2022			August 31, 2021

Operations:
Net investment income	$	1,130,492		$	2,248,785		$	7,064,766		$	9,964,680

Net realized gain		337,662			30,818			26,979			542,485

Net increase in net assets resulting from operations		1,468,154			2,279,603			7,091,745			10,507,165


Distributions to shareholders from distributable earnings:
Institutional Class		(945,945	)		(2,005,555	)		(6,302,258	)		(9,402,663	)

Private Investment Class		(14,688	)		(35,458	)		(70,237	)		(120,583	)

Personal Investment Class		(16,136	)		(28,813	)		(1,412	)		(2,025	)

Cash Management Class		(24,596	)		(42,921	)		(116,654	)		(128,425	)

Reserve Class		(62,399	)		(62,101	)		(66,860	)		(105,814	)

Resource Class		(3,065	)		(18,705	)		(16,225	)		(32,727	)

Corporate Class		(13,608	)		(41,758	)		(111,510	)		(52,287	)

CAVU Securities Class		(50,055	)		(13,474	)		(379,610	)		(120,156	)

Total distributions from distributable earnings		(1,130,492	)		(2,248,785	)		(7,064,766	)		(9,964,680	)


Share transactions-net:
Institutional Class		1,148,575,944			(2,122,806,791	)		4,500,540,880			19,204,558,855

Private Investment Class		9,041,045			(118,976,592	)		56,459,453			(76,121,055	)

Personal Investment Class		114,699,804			(16,713,545	)		6,356,607			(4,169,839	)

Cash Management Class		24,738,287			80,255,547			208,470,000			316,471,282

Reserve Class		810,639,856			286,064,751			129,590,895			7,054,623

Resource Class		(14,916,921	)		(582,467,587	)		16,126,918			(25,248,184	)

Corporate Class		13,096,491			(867,085,822	)		(63,819,670	)		1,050,827,823

CAVU Securities Class		(35,495,020	)		547,040,941			2,464,408,750			1,441,849,681

Net increase (decrease) in net assets resulting from share transactions		2,070,379,486			(2,794,689,098	)		7,318,133,833			21,915,223,186

Net increase (decrease) in net assets		2,070,717,148			(2,794,658,280	)		7,318,160,812			21,915,765,671


Net assets:
Beginning of period		19,848,831,125			22,643,489,405			53,777,842,859			31,862,077,188

End of period	$	21,919,548,273		$	19,848,831,125		$	61,096,003,671		$	53,777,842,859

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

32 Short-Term Investments Trust

Statements of Changes in Net Assets–(continued)

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Treasury Obligations Portfolio						Invesco Tax-Free Cash Reserve Portfolio

	February 28, 2022			August 31, 2021			February 28, 2022			August 31, 2021

Operations:
Net investment income	$	54,469		$	133,186		$	7,984		$	17,194

Net realized gain (loss)		(17,701	)		47,304			-			-

Net increase in net assets resulting from operations		36,768			180,490			7,984			17,194


Distributions to shareholders from distributable earnings:
Institutional Class		(49,822	)		(123,225	)		(6,227	)		(12,978	)

Private Investment Class		(735	)		(1,559	)		(554	)		(1,039	)

Personal Investment Class		(342	)		(128	)		(58	)		(195	)

Cash Management Class		(9	)		(29	)		(226	)		(490	)

Reserve Class		(3,367	)		(7,454	)		(841	)		(2,280	)

Resource Class		(6	)		(17	)		(76	)		(208	)

Corporate Class		(188	)		(774	)		(2	)		(4	)

Total distributions from distributable earnings		(54,469	)		(133,186	)		(7,984	)		(17,194	)


Share transactions-net:
Institutional Class		35,131,360			(306,942,642	)		17,389,193			(32,730,801	)

Private Investment Class		(941,007	)		220,502			2,145,705			(580,210	)

Personal Investment Class		6,265,217			3,070,903			(343,131	)		(1,906,614	)

Cash Management Class		(174,584	)		(87,640	)		(394,386	)		(893,331	)

Reserve Class		16,504,842			19,907,010			(795,898	)		(10,596,705	)

Resource Class		5			(51,953	)		70			(1,527,247	)

Corporate Class		(1,699,796	)		(5,409,097	)		-			-

Net increase (decrease) in net assets resulting from share transactions		55,086,037			(289,292,917	)		18,001,553			(48,234,908	)

Net increase (decrease) in net assets		55,068,336			(289,245,613	)		18,001,553			(48,234,908	)


Net assets:
Beginning of period		1,161,648,191			1,450,893,804			151,808,219			200,043,127

End of period	$	1,216,716,527		$	1,161,648,191		$	169,809,772		$	151,808,219

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

33 Short-Term Investments Trust

Financial Highlights

(Unaudited)

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

Cash Management Class


																											Ratio of			Ratio of
					Net gains																						expenses			expenses
					(losses)																						to average			to average net			Ratio of net
	Net asset				on securities						Dividends			Distributions													net assets			assets without			investment
	value,		Net		(both			Total from			from net			from net						Net asset					Net assets,		with fee waivers			fee waivers			income
	beginning		investment		realized and			investment			investment			realized			Total			value, end		Total			end of period		and/or expense			and/or expense			to average
	of period		income^(a)		unrealized)			operations			income			gains			distributions			of period		return^(b)			(000’s omitted)		reimbursements			reimbursements			net assets
Invesco Liquid Assets Portfolio
Six months ended 02/28/22	$	1.0004	$	0.0001	$	(0.0004	)	$	(0.0003	)	$	(0.0001	)	$	-		$	(0.0001	)	$	1.0000		(0.03	)%	$	2,385		0.17	%^(c)		0.30	%^(c)		0.01	%^(c)
Year ended 08/31/21		1.0006		0.0001		(0.0002	)		(0.0001	)		(0.0001	)		-			(0.0001	)		1.0004		(0.01	)		2,922		0.20			0.30			0.02
Year ended 08/31/20		1.0004		0.0118		(0.0006	)		0.0112			(0.0110	)		-			(0.0110	)		1.0006		1.12			2,947		0.26			0.30			1.18
Year ended 08/31/19		1.0004		0.0229		(0.0000	)		0.0229			(0.0229	)		-			(0.0229	)		1.0004		2.31			9,288		0.26			0.30			2.29
Year ended 08/31/18		1.0002		0.0165		(0.0011	)		0.0154			(0.0152	)		-			(0.0152	)		1.0004		1.55			6,181		0.26			0.31			1.65
Year ended 08/31/17		1.00		0.0043		0.0036			0.0079			(0.0072	)		(0.0005	)		(0.0077	)		1.0002		0.76			7,738		0.26			0.34			0.43
Invesco STIC Prime Portfolio
Six months ended 02/28/22		1.0000		0.0001		0.0000			0.0001			(0.0001	)		-			(0.0001	)		1.0000		0.01			428		0.12	^(c)		0.38	^(c)		0.01	^(c)
Year ended 08/31/21		1.0000		0.0001		(0.0000	)		0.0001			(0.0001	)		-			(0.0001	)		1.0000		0.01			496		0.13			0.38			0.01
Year ended 08/31/20		1.0001		0.0110		(0.0013	)		0.0097			(0.0098	)		-			(0.0098	)		1.0000		0.99			504		0.25			0.34			1.09
Year ended 08/31/19		1.0001		0.0218		0.0001			0.0219			(0.0219	)		-			(0.0219	)		1.0001		2.21			600		0.26			0.33			2.18
Year ended 08/31/18		1.0000		0.0147		(0.0002	)		0.0145			(0.0144	)		-			(0.0144	)		1.0001		1.46			779		0.26			0.35			1.47
Year ended 08/31/17		1.00		0.0054		0.0007			0.0061			(0.0061	)		-			(0.0061	)		1.0000		0.62			1,148		0.26			0.35			0.54
Invesco Treasury Portfolio
Six months ended 02/28/22		1.00		0.00		0.00			0.00			(0.00	)		-			(0.00	)		1.00		0.01			476,970		0.07	^(c)		0.29	^(c)		0.01	^(c)
Year ended 08/31/21		1.00		0.00		0.00			0.00			(0.00	)		-			(0.00	)		1.00		0.01			452,222		0.10			0.29			0.01
Year ended 08/31/20		1.00		0.01		0.00			0.01			(0.01	)		(0.00	)		(0.01	)		1.00		0.84			371,958		0.26			0.29			0.78
Year ended 08/31/19		1.00		0.02		0.00			0.02			(0.02	)		-			(0.02	)		1.00		2.12			396,685		0.26			0.29			2.10
Year ended 08/31/18		1.00		0.01		0.00			0.01			(0.01	)		-			(0.01	)		1.00		1.29			446,756		0.26			0.28			1.29
Year ended 08/31/17		1.00		0.00		0.00			0.00			(0.00	)		-			(0.00	)		1.00		0.44			479,400		0.26			0.28			0.44
Invesco Government & Agency Portfolio
Six months ended 02/28/22		1.00		0.00		0.00			0.00			(0.00	)		-			(0.00	)		1.00		0.01			956,426		0.06	^(c)		0.24	^(c)		0.02	^(c)
Year ended 08/31/21		1.00		0.00		0.00			0.00			(0.00	)		-			(0.00	)		1.00		0.02			747,956		0.08			0.24			0.02
Year ended 08/31/20		1.00		0.01		(0.00	)		0.01			(0.01	)		(0.00	)		(0.01	)		1.00		0.87			431,476		0.23			0.23			0.77
Year ended 08/31/19		1.00		0.02		0.00			0.02			(0.02	)		-			(0.02	)		1.00		2.14			365,003		0.24			0.24			2.12
Year ended 08/31/18		1.00		0.01		0.00			0.01			(0.01	)		-			(0.01	)		1.00		1.30			333,349		0.23			0.23			1.27
Year ended 08/31/17		1.00		0.00		(0.00	)		0.00			(0.00	)		-			(0.00	)		1.00		0.48			169,027		0.23			0.23			0.50
Invesco Treasury Obligations Portfolio
Six months ended 02/28/22		1.00		0.00		(0.00	)		0.00			(0.00	)		-			(0.00	)		1.00		0.01			78		0.08	^(c)		0.30	^(c)		0.01	^(c)
Year ended 08/31/21		1.00		0.00		0.00			0.00			(0.00	)		-			(0.00	)		1.00		0.01			253		0.10			0.29			0.01
Year ended 08/31/20		1.00		0.01		(0.00	)		0.01			(0.01	)		-			(0.01	)		1.00		0.87			341		0.26			0.28			0.76
Year ended 08/31/19		1.00		0.02		0.00			0.02			(0.02	)		-			(0.02	)		1.00		2.10			1,894		0.26			0.29			2.07
Year ended 08/31/18		1.00		0.01		0.00			0.01			(0.01	)		-			(0.01	)		1.00		1.27			3,165		0.26			0.29			1.26
Year ended 08/31/17		1.00		0.00		(0.00	)		0.00			(0.00	)		-			(0.00	)		1.00		0.38			1,618		0.24			0.30			0.42
Invesco Tax-Free Cash Reserve Portfolio
Six months ended 02/28/22		1.00		0.00		-			0.00			(0.00	)		-			(0.00	)		1.00		0.01			4,202		0.07	^(c)		0.48	^(c)		0.01	^(c)
Year ended 08/31/21		1.00		0.00		-			0.00			(0.00	)		-			(0.00	)		1.00		0.01			4,597		0.07			0.48			0.01
Year ended 08/31/20		1.00		0.01		-			0.01			(0.01	)		-			(0.01	)		1.00		0.70			5,490		0.26			0.42			0.69
Year ended 08/31/19		1.00		0.01		-			0.01			(0.01	)		-			(0.01	)		1.00		1.31			27,298		0.28			0.43			1.30
Year ended 08/31/18		1.00		0.01		(0.00	)		0.01			(0.01	)		-			(0.01	)		1.00		0.93			31,885		0.28			0.46			0.93
Year ended 08/31/17		1.00		0.00		(0.00	)		0.00			(0.00	)		-			(0.00	)		1.00		0.49			27,616		0.28			0.45			0.48

^(a)	Calculated using average shares outstanding.

^(b)	Includes adjustments in accordance with accounting principles generally accepted in the United States of America and is not annualized for periods less than one year.

^(c)	Annualized.

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

34 Short-Term Investments Trust

Notes to Financial Statements

February 28, 2022

(Unaudited)

NOTE 1–Significant Accounting Policies

Invesco Liquid Assets Portfolio determines its NAV per share multiple times each day.

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

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.

B.	Securities Transactions and Investment Income - Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is

35 Short-Term Investments Trust

recorded on the accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.

D.	Distributions - It is the policy of the Funds to declare dividends from net investment income daily and pay dividends on the first business day of the following month. Each Fund generally distributes net realized capital gain (including net short-term capital gain), if any, annually.

36 Short-Term Investments Trust

There is some risk that a portion or all of the interest received from certain tax-free municipal securities could become taxable as a result of determinations by the Internal Revenue Service.

NOTE 2–Advisory Fees and Other Fees Paid to Affiliates


	First	Next	Over
	$250 million	$250 million	$500 million


Invesco Liquid Assets Portfolio	0.15%	0.15%	0.15%


Invesco STIC Prime Portfolio	0.15%	0.15%	0.15%


Invesco Treasury Portfolio	0.15%	0.15%	0.15%


Invesco Government & Agency Portfolio	0.10%	0.10%	0.10%


Invesco Treasury Obligations Portfolio	0.20%	0.15%	0.10%


Invesco Tax-Free Cash Reserve Portfolio	0.20%	0.20%	0.20%

For the six months ended February 28, 2022, the management fee incurred for each Fund was equivalent to the annual effective rate of each Fund’s average daily net assets, as shown below:


Invesco Liquid Assets Portfolio			0.15%


Invesco STIC Prime Portfolio			0.15%


Invesco Treasury Portfolio			0.15%


Invesco Government & Agency Portfolio			0.10%


Invesco Treasury Obligations Portfolio			0.14%


Invesco Tax-Free Cash Reserve Portfolio			0.20%

37 Short-Term Investments Trust


		Private	Personal	Cash				CAVU
	Institutional	Investment	Investment	Management	Reserve	Resource	Corporate	Securities
	Class	Class	Class	Class	Class	Class	Class	Class


Invesco Liquid Assets Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.38%	0.21%	0.18%


Invesco STIC Prime Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.34%	0.21%	-


Invesco Treasury Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.34%	0.21%	0.18%


Invesco Government & Agency Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.34%	0.21%	0.18%


Invesco Treasury Obligations Portfolio	0.18%	0.43%	0.73%	0.26%	1.05%	0.34%	0.21%	-


Invesco Tax-Free Cash Reserve Portfolio	0.20%	0.45%	0.75%	0.28%	1.07%	0.36%	0.23%	-

For the six months ended February 28, 2022, the Adviser waived advisory fees and/or reimbursed Fund expenses, as shown below:


	Expense
	Limitation


Invesco Liquid Assets Portfolio	$	442,476


Invesco STIC Prime Portfolio		151,463


Invesco Treasury Portfolio		3,703,090


Invesco Government & Agency Portfolio		-


Invesco Treasury Obligations Portfolio		216,359


Invesco Tax-Free Cash Reserve Portfolio		156,166

Voluntary fee waivers for the six months ended February 28, 2022 are shown below:


			Private		Personal		Cash
			Investment		Investment		Management		Reserve		Resource		Corporate
	Fund Level		Class		Class		Class		Class		Class		Class


Invesco Liquid Assets Portfolio	$	98,537	$	4,270	$	27	$	1,014	$	923	$	290	$	3


Invesco STIC Prime Portfolio		82,159		832		253		195		375		-		4


Invesco Treasury Portfolio		11,644,572		431,096		868,352		192,510		5,311,944		47,971		39,942


Invesco Government & Agency Portfolio		27,703,436		812,520		29,939		359,090		2,243,978		100,018		127,960


Invesco Treasury Obligations Portfolio		536,300		17,924		18,350		60		286,375		78		544


Invesco Tax-Free Cash Reserve Portfolio		99,306		13,526		3,039		1,765		71,520		1,171		2

38 Short-Term Investments Trust


	Private	Personal	Cash
	Investment	Investment	Management	Reserve	Resource	Corporate
	Class	Class	Class	Class	Class	Class


Invesco Liquid Assets Portfolio	0.30%	0.55%	0.08%	0.87%	0.20%	0.03%


Invesco STIC Prime Portfolio	0.30%	0.55%	0.08%	0.87%	0.16%	0.03%


Invesco Treasury Portfolio	0.30%	0.55%	0.08%	0.87%	0.16%	0.03%


Invesco Government & Agency Portfolio	0.30%	0.55%	0.08%	0.87%	0.16%	0.03%


Invesco Treasury Obligations Portfolio	0.25%	0.55%	0.08%	0.87%	0.16%	0.03%


Invesco Tax-Free Cash Reserve Portfolio	0.25%	0.55%	0.08%	0.87%	0.16%	0.03%

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

NOTE 3–Additional Valuation Information

Level 1 –

Prices are determined using quoted prices in an active market for identical assets.

Level 2 –

Level 3 –

NOTE 4–Security Transactions with Affiliated Funds


	Securities Purchases		Securities Sales		Net Realized Gains
Invesco Liquid Assets Portfolio		$22,055,624		$16,400,013	$-
Invesco STIC Prime Portfolio		8,610,216		8,200,189	-
Invesco Tax-Free Cash Reserve Portfolio		91,949,282		79,264,665	-

NOTE 5–Trustees’ and Officers’ Fees and Benefits

Trustees’ and Officers’ Fees and Benefits include amounts accrued by each Fund to pay remuneration to certain Trustees and Officers of such Fund. Trustees have the option to defer compensation payable by the Funds, and Trustees’ and Officers’ Fees and Benefits also include amounts accrued by each Fund to fund such deferred compensation amounts. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested. Finally, certain current Trustees were eligible to participate in a retirement plan that provided for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Funds may have certain former Trustees who also participate in a retirement plan and receive benefits under such plan. Trustees’ and Officers’ Fees and Benefits include amounts accrued by each Fund to fund such retirement benefits. Obligations under the deferred compensation and retirement plans represent unsecured claims against the general assets of the Funds.

39 Short-Term Investments Trust

NOTE 6–Cash Balances

NOTE 7–Tax Information

The Funds had a capital loss carryforward as of August 31, 2021, as follows:


Fund	Not Subject to Expiration	Total*
Invesco Liquid Assets Portfolio	$13,010		$	13,010
Invesco Treasury Obligations Portfolio	13,241			13,241
Invesco Tax-Free Cash Reserve Portfolio	19,092			19,092

*	Capital loss carryforwards are 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 cost and the net unrealized appreciation (depreciation) of investments for tax purposes are as follows:


	At February 28, 2022
	Federal Tax Cost*			Unrealized Appreciation			Unrealized (Depreciation)				Net Unrealized Appreciation (Depreciation)
Invesco Liquid Assets Portfolio		$	2,241,779,487		$	23,265		$	(631,849	)		$	(608,584	)
Invesco STIC Prime Portfolio			276,300,889			2,906			(69	)			2,837
Invesco Treasury Portfolio			22,808,970,667			-			(32,012	)			(32,012	)
Invesco Government & Agency Portfolio			63,945,609,329			-			(1,167	)			(1,167	)
Invesco Treasury Obligations Portfolio			1,385,630,403			-			(22,651	)			(22,651	)

NOTE 9–Share Information

Invesco Liquid Assets Portfolio


	Summary of Share Activity


	Six months ended				Year ended
	February 28, 2022^(a)				August 31, 2021
	Shares		Amount		Shares		Amount


Sold:
Institutional Class		7,928,057,646	$	7,929,890,259		17,486,805,323	$	17,494,025,296


Private Investment Class		1		1		371,715		371,900


Cash Management Class		-		-		6,058		6,061


Reserve Class		7,065		7,068		79,579		79,611


Corporate Class		-		-		1,001		1,001


CAVU Securities Class^(b)		-		-		99,962		100,002

40 Short-Term Investments Trust

NOTE 9–Share Information–(continued)


	Summary of Share Activity


	Six months ended						Year ended
	February 28, 2022^(a)						August 31, 2021
	Shares			Amount			Shares			Amount



Issued as reinvestment of dividends:
Institutional Class		3,067		$	3,067			182,613		$	182,698


Private Investment Class		92			92			207			207


Cash Management Class		133			133			359			359


Reserve Class		11			11			28			28


Resource Class		15			15			37			37


Corporate Class		2			2			13			13



Reacquired:
Institutional Class		(8,078,548,249	)		(8,080,512,126	)		(17,688,475,913	)		(17,695,782,305	)


Private Investment Class		(5,228	)		(5,230	)		(1,020,552	)		(1,021,000	)


Cash Management Class		(535,874	)		(536,034	)		(30,840	)		(30,854	)


Reserve Class		(11,095	)		(11,098	)		(142,165	)		(142,221	)


Resource Class		(114,793	)		(114,828	)		(3,373	)		(3,374	)


Corporate Class		(1	)		(1	)		(16,529	)		(16,536	)


Net increase (decrease) in share activity		(151,147,208	)	$	(151,278,669	)		(202,142,477	)	$	(202,229,077	)

^(a)	59% of the outstanding shares of the Fund are owned by the Adviser or an affiliate of the Adviser.

^(b)	Commencement date of December 18, 2020.

41 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco STIC Prime Portfolio


	Summary of Share Activity


	Six months ended						Year ended
	February 28, 2022^(a)						August 31, 2021
	Shares			Amount			Shares			Amount


Sold:
Institutional Class		705,814,165		$	705,814,165			1,439,605,312		$	1,439,605,312


Private Investment Class		9,001			9,001			17,500			17,500


Personal Investment Class		23			23			-			-


Cash Management Class		-			-			7,472			7,472


Reserve Class		1			1			4			4


Corporate Class		-			-			1,000			1,000



Issued as reinvestment of dividends:
Institutional Class		6,536			6,536			14,063			14,063


Private Investment Class		29			29			91			91


Personal Investment Class		4			4			27			27


Cash Management Class		7			7			15			15


Reserve Class		4			4			7			7


Resource Class		-			-			7			7


Corporate Class		1			1			4			4



Reacquired:
Institutional Class		(666,272,457	)		(666,272,457	)		(1,538,652,493	)		(1,538,652,493	)


Private Investment Class		(140,693	)		(140,693	)		(688,627	)		(688,627	)


Personal Investment Class		(23	)		(23	)		(302,518	)		(302,518	)


Cash Management Class		(67,771	)		(67,771	)		(15,280	)		(15,280	)


Reserve Class		(1	)		(1	)		(18,413	)		(18,413	)


Resource Class		-			-			(122,212	)		(122,212	)


Corporate Class		-			-			(1,000	)		(1,000	)


Net increase (decrease) in share activity		39,348,826		$	39,348,826			(100,155,041	)	$	(100,155,041	)

^(a)

42 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Treasury Portfolio


	Summary of Share Activity


	Six months ended						Year ended
	February 28, 2022^(a)						August 31, 2021
	Shares			Amount			Shares			Amount


Sold:
Institutional Class		63,116,124,261		$	63,116,124,261			209,389,908,080		$	209,389,908,080


Private Investment Class		436,581,760			436,581,760			564,708,648			564,708,648


Personal Investment Class		1,082,049,227			1,082,049,227			1,460,181,973			1,460,181,973


Cash Management Class		868,464,400			868,464,400			834,202,437			834,202,437


Reserve Class		1,633,245,975			1,633,245,975			2,267,218,779			2,267,218,779


Resource Class		96,775,732			96,775,732			271,542,723			271,542,723


Corporate Class		1,534,950,883			1,534,950,883			4,259,846,179			4,259,846,179


CAVU Securities Class^(b)		6,259,349,230			6,259,349,230			1,619,862,326			1,619,862,326



Issued as reinvestment of dividends:
Institutional Class		232,641			232,641			497,496			497,496


Private Investment Class		5,404			5,404			11,961			11,961


Personal Investment Class		14,389			14,389			28,558			28,558


Cash Management Class		23,399			23,399			39,490			39,490


Reserve Class		55,622			55,622			56,643			56,643


Resource Class		3,065			3,065			4,380			4,380


Corporate Class		5,818			5,818			26,745			26,745


CAVU Securities Class		175			175			-			-



Reacquired:
Institutional Class		(61,967,780,958	)		(61,967,780,958	)		(211,513,212,367	)		(211,513,212,367	)


Private Investment Class		(427,546,119	)		(427,546,119	)		(683,697,201	)		(683,697,201	)


Personal Investment Class		(967,363,812	)		(967,363,812	)		(1,476,924,076	)		(1,476,924,076	)


Cash Management Class		(843,749,512	)		(843,749,512	)		(753,986,380	)		(753,986,380	)


Reserve Class		(822,661,741	)		(822,661,741	)		(1,981,210,671	)		(1,981,210,671	)


Resource Class		(111,695,718	)		(111,695,718	)		(854,014,690	)		(854,014,690	)


Corporate Class		(1,521,860,210	)		(1,521,860,210	)		(5,126,958,746	)		(5,126,958,746	)


CAVU Securities Class		(6,294,844,425	)		(6,294,844,425	)		(1,072,821,385	)		(1,072,821,385	)


Net increase (decrease) in share activity		2,070,379,486		$	2,070,379,486			(2,794,689,098	)	$	(2,794,689,098	)

^(a)

^(b)	Commencement date of December 18, 2020.

43 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Government & Agency Portfolio


	Summary of Share Activity


	Six months ended						Year ended
	February 28, 2022^(a)						August 31, 2021
	Shares			Amount			Shares			Amount


Sold:
Institutional Class		162,483,965,647		$	162,483,965,647			287,998,117,369		$	287,998,117,369

Private Investment Class		739,731,866			739,731,866			1,566,476,737			1,566,476,737

Personal Investment Class		16,597,262			16,597,262			8,460,874			8,460,874

Cash Management Class		502,774,048			502,774,048			1,020,500,616			1,020,500,616

Reserve Class		1,286,100,892			1,286,100,892			1,184,114,517			1,184,114,517

Resource Class		575,440,585			575,440,585			1,448,949,173			1,448,949,173

Corporate Class		4,225,553,621			4,225,553,621			2,472,495,311			2,472,495,311

CAVU Securities Class^(b)		24,758,726,005			24,758,726,005			11,182,358,336			11,182,358,336



Issued as reinvestment of dividends:
Institutional Class		1,500,984			1,500,984			2,364,199			2,364,199

Private Investment Class		42,484			42,484			77,027			77,027

Personal Investment Class		1,075			1,075			1,664			1,664

Cash Management Class		42,314			42,314			62,947			62,947

Reserve Class		62,697			62,697			96,732			96,732

Resource Class		13,444			13,444			22,306			22,306

Corporate Class		99,960			99,960			20,996			20,996

CAVU Securities Class		231,219			231,219			68,987			68,987



Reacquired:
Institutional Class		(157,984,925,751	)		(157,984,925,751	)		(268,795,922,713	)		(268,795,922,713	)

Private Investment Class		(683,314,897	)		(683,314,897	)		(1,642,674,819	)		(1,642,674,819	)

Personal Investment Class		(10,241,730	)		(10,241,730	)		(12,632,377	)		(12,632,377	)

Cash Management Class		(294,346,362	)		(294,346,362	)		(704,092,281	)		(704,092,281	)

Reserve Class		(1,156,572,694	)		(1,156,572,694	)		(1,177,156,626	)		(1,177,156,626	)

Resource Class		(559,327,111	)		(559,327,111	)		(1,474,219,663	)		(1,474,219,663	)

Corporate Class		(4,289,473,251	)		(4,289,473,251	)		(1,421,688,484	)		(1,421,688,484	)

CAVU Securities Class		(22,294,548,474	)		(22,294,548,474	)		(9,740,577,642	)		(9,740,577,642	)


Net increase in share activity		7,318,133,833		$	7,318,133,833			21,915,223,186		$	21,915,223,186

^(a)

^(b)	Commencement date of December 18, 2020.

44 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Treasury Obligations Portfolio


	Summary of Share Activity


	Six months ended						Year ended
	February 28, 2022^(a)						August 31, 2021
	Shares			Amount			Shares			Amount


Sold:
Institutional Class		775,170,129		$	775,170,129			1,758,486,047		$	1,758,486,047

Private Investment Class		714,387			714,387			8,037,650			8,037,650

Personal Investment Class		7,077,364			7,077,364			6,051,798			6,051,798

Reserve Class		114,819,967			114,819,967			332,356,357			332,356,357

Resource Class		5			5			52,034			52,034

Corporate Class		-			-			129			129



Issued as reinvestment of dividends:
Institutional Class		11,379			11,379			69,137			69,137

Private Investment Class		735			735			1,543			1,543

Personal Investment Class		280			280			102			102

Cash Management Class		8			8			27			27

Reserve Class		3,241			3,241			7,165			7,165

Resource Class		-			-			3			3

Corporate Class		188			188			774			774



Reacquired:
Institutional Class		(740,050,148	)		(740,050,148	)		(2,065,497,826	)		(2,065,497,826	)

Private Investment Class		(1,656,129	)		(1,656,129	)		(7,818,691	)		(7,818,691	)

Personal Investment Class		(812,427	)		(812,427	)		(2,980,997	)		(2,980,997	)

Cash Management Class		(174,592	)		(174,592	)		(87,667	)		(87,667	)

Reserve Class		(98,318,366	)		(98,318,366	)		(312,456,512	)		(312,456,512	)

Resource Class		-			-			(103,990	)		(103,990	)

Corporate Class		(1,699,984	)		(1,699,984	)		(5,410,000	)		(5,410,000	)

Net increase (decrease) in share activity		55,086,037		$	55,086,037			(289,292,917	)	$	(289,292,917	)

^(a)

In addition, 55% of the outstanding shares of the Fund are owned by the Adviser or an affiliate of the Adviser.

45 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Tax-Free Cash Reserve Portfolio


	Summary of Share Activity


	Six months ended						Year ended
	February 28, 2022^(a)						August 31, 2021
	Shares			Amount			Shares			Amount


Sold:
Institutional Class		91,534,335		$	91,534,335			147,021,640		$	147,021,640


Private Investment Class		4,227,638			4,227,638			2,274,008			2,274,008


Personal Investment Class		2,540,401			2,540,401			7,107,975			7,107,975


Cash Management Class		2,600,250			2,600,250			6,420,817			6,420,817


Reserve Class		21,321,081			21,321,081			28,135,345			28,135,345


Resource Class		-			-			394,392			394,392



Issued as reinvestment of dividends:
Institutional Class		3,153			3,153			7,749			7,749


Private Investment Class		437			437			832			832


Personal Investment Class		57			57			195			195


Cash Management Class		82			82			230			230


Reserve Class		836			836			2,280			2,280


Resource Class		70			70			205			205



Reacquired:
Institutional Class		(74,148,295	)		(74,148,295	)		(179,760,190	)		(179,760,190	)


Private Investment Class		(2,082,370	)		(2,082,370	)		(2,855,050	)		(2,855,050	)


Personal Investment Class		(2,883,589	)		(2,883,589	)		(9,014,784	)		(9,014,784	)


Cash Management Class		(2,994,718	)		(2,994,718	)		(7,314,378	)		(7,314,378	)


Reserve Class		(22,117,815	)		(22,117,815	)		(38,734,330	)		(38,734,330	)


Resource Class		-			-			(1,921,844	)		(1,921,844	)


Net increase (decrease) in share activity		18,001,553		$	18,001,553			(48,234,908	)	$	(48,234,908	)

^(a)

46 Short-Term Investments Trust

Calculating your ongoing Fund expenses

Example

As a shareholder in the Cash Management Class, you incur ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period September 1, 2021 through February 28, 2022.

Actual expenses

Hypothetical example for comparison purposes


		ACTUAL		HYPOTHETICAL (5% annual return before expenses)
Cash Management Class	Beginning Account Value (09/01/21)	Ending Account Value (02/28/22)¹	Expenses Paid During Period²	Ending Account Value (02/28/22)	Expenses Paid During Period²	Annualized Expense Ratio
Invesco Liquid Assets Portfolio	$1,000.00	$999.70	$0.84	$1,023.95	$0.85	0.17%
Invesco STIC Prime Portfolio	1,000.00	1,000.10	0.60	1,024.20	0.60	0.12
Invesco Treasury Portfolio	1,000.00	1,000.10	0.35	1,024.45	0.35	0.07
Invesco Government & Agency Portfolio	1,000.00	1,000.10	0.30	1,024.50	0.30	0.06
Invesco Treasury Obligations Portfolio	1,000.00	1,000.10	0.40	1,024.40	0.40	0.08
Invesco Tax-Free Cash Reserve Portfolio	1,000.00	1,000.10	0.35	1,024.45	0.35	0.07

²	Expenses are equal to each Fund’s annualized expense ratio as indicated above multiplied by the average account value over the period, multiplied by 181/365 to reflect the most recent fiscal half year.

47 Short-Term Investments Trust

Invesco mailing information

Send general correspondence to Invesco Investment Services, Inc., P.O. Box 219078, Kansas City, MO 64121-9078.

Important notice regarding delivery of security holder documents

Fund holdings and proxy voting information

LOGO


SEC file numbers: 811-02729 and 002-58287		Invesco Distributors, Inc.		CM-STIT-SAR-3

LOGO



Semiannual Report to Shareholders		February 28, 2022

Resource Class
Short-Term Investments Trust (STIT)
Invesco Liquid Assets Portfolio
Invesco STIC Prime Portfolio
Invesco Treasury Portfolio
Invesco Government & Agency Portfolio
Invesco Treasury Obligations Portfolio
Invesco Tax-Free Cash Reserve Portfolio


2		Fund Data
3		Schedules of Investments
28		Financial Statements
34		Financial Highlights
35		Notes to Financial Statements
47		Fund Expenses

Unless otherwise stated, information presented in this report is as of February 28, 2022, and is based on total net assets. Unless otherwise stated, all data provided by Invesco.

NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE

Fund Data


Resource Class data as of 2/28/22

FUND	WEIGHTED			WEIGHTED	TOTAL
	AVERAGE			AVERAGE	NET
	MATURITY			LIFE	ASSETS

	Range	At		At
	During	Reporting		Reporting
	Reporting	Period		Period
	Period	End		End
Invesco Liquid Assets¹	23 - 52 days		23 days	52 days	$247.3 thousand
Invesco STIC Prime¹	3 - 13 days		6 days	7 days	0.4 thousand
Invesco Treasury²	45 - 57 days		51 days	103 days	38.3 million
Invesco Government & Agency²	32 - 53 days		47 days	100 days	134.0 million
Invesco Treasury Obligations²	31 - 55 days		38 days	83 days	98.1 thousand
Invesco Tax-Free Cash Reserve³	9 - 15 days		11 days	11 days	1.5 million
Weighted average maturity (WAM) is an average of the maturities of all securities held in the portfolio, weighted by each security’s percentage of net assets. The days to maturity for WAM is the lower of the stated maturity date or next interest rate reset date. WAM reflects how a portfolio would react to interest rate changes. Weighted average life (WAL) is an average of all the maturities of all securities held in the portfolio, weighted by each security’s percentage of net assets. The days to maturity for WAL is the lower of the stated maturity date or next demand feature date. WAL reflects how a portfolio would react to deteriorating credit (widening spreads) or tightening liquidity conditions.

2 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio


					Principal
	Interest		Maturity		Amount
	Rate		Date		(000)		Value
Commercial Paper-36.48%^(a)
Asset-Backed Securities - Fully Supported-2.71%
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.17%		04/13/2022	$	10,000	$ 9,996,724
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.25%		05/06/2022		50,000	49,960,732
							59,957,456

Asset-Backed Securities - Fully Supported Bank-5.88%
Anglesea Funding LLC (Multi - CEP’s)^(b)(c)		0.13%		03/03/2022		10,000	9,999,921
Anglesea Funding PLC (Multi - CEP’s) (OBFR + 0.10%)^(b)(c)(d)		0.17%		05/20/2022		25,000	25,003,750
Bedford Row Funding Corp. (CEP - Royal Bank of Canada) (1 mo. FEDL + 0.12%)^(b)(c)(d)		0.20%		09/01/2022		20,000	19,998,483
Ebury Finance LLC (Multi - CEP’s), (SOFR + 0.15%)^(b)(c)(d)		0.20%		05/23/2022		50,000	50,000,583
Versailles Commercial Paper LLC (CEP - Natixis S.A.) (SOFR + 0.16%)^(b)(c)(d)		0.21%		08/02/2022		25,000	25,000,098
							130,002,835

Diversified Banks-21.08%
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(b)(c)(d)		0.25%		05/16/2022		30,000	30,000,937
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(b)(c)(d)		0.25%		05/20/2022		25,000	25,000,822
ANZ New Zealand (Int’l) Ltd.^(b)(c)		0.17%		04/04/2022		23,700	23,695,783
ANZ New Zealand (Int’l) Ltd.^(b)(c)		0.34%		10/03/2022		30,000	29,831,463
Barclays Bank PLC (SOFR + 0.16%)^(b)(c)(d)		0.21%		07/01/2022		60,000	60,003,023
Industrial & Commercial Bank of China Ltd.^(b)(c)		0.15%		03/15/2022		50,000	49,997,437
Kookmin Bank^(b)(c)		0.20%		03/17/2022		20,000	19,999,226
Mitsubishi UFJ Trust & Banking Corp.^(b)(c)		0.26%		04/13/2022		15,000	14,995,637
National Australia Bank Ltd. (SOFR + 0.17%)^(b)(c)(d)		0.22%		07/25/2022		50,000	50,003,019
NRW Bank^(b)(c)		0.00%		04/01/2022		30,000	29,986,667
Royal Bank of Canada^(b)(c)		0.20%		06/16/2022		15,000	14,974,125
Svenska Handelsbanken AB^(b)(c)		0.34%		11/03/2022		22,850	22,690,700
Toronto-Dominion Bank (The)^(b)(c)		0.21%		06/22/2022		25,000	24,952,262
Toronto-Dominion Bank (The) (1 mo. FEDL + 0.10%)^(b)(c)(d)		0.18%		07/08/2022		10,000	9,999,109
Toronto-Dominion Bank (The) (1 mo. FEDL + 0.10%)^(b)(c)(d)		0.18%		09/06/2022		10,000	9,997,669
United Overseas Bank Ltd.^(b)(c)		0.25%		06/09/2022		50,000	49,922,146
							466,050,025

Diversified Capital Markets-2.71%
UBS AG^(b)(c)		0.25%		08/18/2022		30,000	29,895,263
UBS AG (SOFR + 0.17%)^(b)(c)(d)		0.22%		09/21/2022		30,000	29,987,712
							59,882,975

Investment Banking & Brokerage-1.35%
Goldman Sachs International^(b)		0.45%		11/15/2022		30,000	29,768,383

Regional Banks-2.30%
ASB Finance Ltd.^(b)(c)		0.25%		03/18/2022		20,920	20,919,216
ASB Finance Ltd.^(b)(c)		0.21%		07/08/2022		30,000	29,931,208
							50,850,424

Specialized Finance-0.45%
Great Bear Funding LLC (OBFR + 0.15%)^(c)(d)		0.22%		07/01/2022		10,000	10,001,500
Total Commercial Paper (Cost $807,086,551)							806,513,598

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

3 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


					Principal
	Interest		Maturity		Amount
	Rate		Date		(000)		Value

Certificates of Deposit-34.73%
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(c)(d)		0.25%		05/11/2022	$	10,000	$ 10,001,239
ANZ New Zealand (Int’l) Ltd.^(c)		0.07%		03/01/2022		55,000	55,000,000
Bank of Montreal^(c)		0.21%		06/24/2022		10,000	9,987,430
Bank of Nova Scotia (The) (SOFR + 0.11%)^(c)(d)		0.16%		04/20/2022		50,000	50,004,956
Canadian Imperial Bank of Commerce^(c)		0.07%		03/01/2022		38,000	38,000,000
Canadian Imperial Bank of Commerce (1 mo. FEDL + 0.10%)^(c)(d)		0.18%		06/08/2022		50,000	49,997,973
Cooperatieve Rabobank U.A.^(c)		0.07%		03/01/2022		105,000	105,000,000
DZ Bank AG Deutsche Zentral-Genossenschaftsbank^(c)		0.06%		03/01/2022		95,000	95,000,000
Goldman Sachs Bank USA (SOFR + 0.21%)^(d)		0.26%		09/16/2022		30,000	29,999,999
Nordea Bank Abp^(c)		0.06%		03/01/2022		95,000	95,000,000
Skandinaviska Enskilda Banken AB^(c)		0.06%		03/01/2022		95,000	95,000,000
Svenska Handelsbanken AB^(c)		0.06%		03/01/2022		75,000	75,000,000
Westpac Banking Corp. (SOFR + 0.13%)^(c)(d)		0.18%		07/15/2022		55,000	54,994,856
Westpac Banking Corp.^(c)		0.44%		11/23/2022		5,000	4,976,872
Total Certificates of Deposit (Cost $767,998,956)							767,963,325

Variable Rate Demand Notes-5.24%^(e)
Credit Enhanced-5.24%
Capital Area Housing Finance Corp. (Cypress Creek at River Apartments); Series 2006, VRD MFH RB (LOC - Citibank N.A.)^(f)(g)		0.23%		10/01/2039		2,400	2,400,000
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(g)		0.19%		06/01/2037		3,055	3,055,000
Jets Stadium Development LLC; Series 2014 A-4B, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)^(b)(c)(g)		0.26%		04/01/2047		9,200	9,199,999
Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank N.A.)^(g)		0.22%		05/01/2037		2,500	2,500,000
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(g)		0.19%		11/15/2046		11,180	11,180,000
Sarasota (County of), FL Public Hospital District (Sarasota Memorial Hospital); Series 2008 B, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(g)		0.20%		07/01/2037		5,420	5,420,000
University of Texas System Board of Regents; Subseries 2016 G-2, VRD RB		0.16%		08/01/2045		82,040	82,040,000
Total Variable Rate Demand Notes (Cost $115,794,999)							115,794,999
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-76.45% (Cost $1,690,880,506)							1,690,271,922

					Repurchase
					Amount

Repurchase Agreements-24.92%^(h)
BMO Capital Markets Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $100,003,111 (collateralized by U.S government sponsored agency obligations, domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $103,576,455; 0.00% - 8.88%; 04/25/2022 - 06/20/2071)^(c)(i)		0.16%		03/01/2022		27,000,840	27,000,000
BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $150,004,958 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $157,182,535; 0.00% - 8.20%; 02/13/2023 - 12/16/2062)^(c)(i)		0.17%		03/02/2022		15,000,496	15,000,000

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

4 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


	Interest		Maturity		Repurchase
	Rate		Date		Amount		Value
BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $25,001,069 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $26,546,588; 0.00% - 10.00%; 12/07/2021 - 12/20/2065)^(c)(i)		0.22%		03/02/2022	$	10,000,428	$ 10,000,000
Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic and foreign non-agency asset-backed securities and domestic non-agency mortgage-backed securities valued at $203,598,357; 1.17% - 7.06%; 10/25/2026 -02/15/2039)^(j)		0.56%		03/01/2022		8,003,451	8,000,000
Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic non-agency asset-backed securities, domestic corporate obligations and domestic non-agency mortgage-backed securities valued at $55,045,612; 1.87% -7.38%; 03/25/2026 - 06/01/2044)^(j)		0.55%		03/01/2022		35,014,963	35,000,000
Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic non-agency mortgage-backed securities valued at $55,143,137; 1.94% -5.80%; 01/25/2030 - 12/15/2038)^(j)		0.54%		03/01/2022		10,004,197	10,000,000
Credit Agricole Corporate & Investment Bank, joint term agreement dated 02/22/2022, aggregate maturing value of $240,006,067 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations, domestic non-agency mortgage-backed securities and U.S. Treasury obligations valued at $246,893,829; 0.00% - 7.75%; 04/07/2022 - 05/01/2079)^(c)(i)		0.13%		03/01/2022		20,000,506	20,000,000
Credit Suisse Securities (USA) LLC, joint term agreement dated 02/23/2022, aggregate maturing value of $90,003,500 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities and domestic and foreign corporate obligations valued at $98,998,378; 0.00% - 15.98%; 04/22/2022 - 09/27/2060)^(c)(i)		0.20%		03/02/2022		25,000,972	25,000,000
Credit Suisse Securities (USA) LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $10,000,095 (collateralized by domestic non-agency mortgage-backed securities valued at $10,500,001; 1.38% - 4.74%; 12/15/2046 - 01/20/2051)^(c)(k)		0.34%		03/01/2022		2,000,019	2,000,000
J.P. Morgan Securities LLC, joint open agreement dated 04/28/2020 (collateralized by domestic and corporate obligations valued at $109,999,955; 0.00% - 10.88%; 04/30/2022 - 11/03/2037)^(j)		0.37%		03/01/2022		65,018,706	65,000,000
J.P. Morgan Securities LLC, joint open agreement dated 09/18/2020 (collateralized by domestic and foreign equity securities valued at $15,753,313; 0.00% - 8.50%; 10/31/2026 - 01/31/2028)^(j)		0.27%		03/01/2022		7,001,470	7,000,000
J.P. Morgan Securities LLC, open agreement dated 11/01/2021 (collateralized by a domestic agency mortgage-backed security and domestic non-agency mortgage-backed securities valued at $15,750,000; 0.22% - 3.36%; 06/15/2031 - 04/27/2065)^(j)		0.43%		03/01/2022		15,005,004	15,000,000
Mitsubishi UFJ Trust & Banking Corp., joint open agreement dated 02/23/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations, domestic and foreign commercial paper and a U.S. Treasury obligation valued at $51,697,846; 0.00% - 8.50%; 03/01/2022 - 01/15/2082)^(c)(j)		0.20%		03/01/2022		25,003,889	25,000,000
Mizuho Securities (USA) LLC, joint open agreement dated 12/30/2021 (collateralized by domestic and foreign equity securities valued at $52,500,215; 0.00%)^(c)(j)		0.22%		03/01/2022		28,000,171	28,000,000
RBC Capital Markets LLC, joint term agreement dated 02/23/2022, aggregate maturing value of $155,005,726 (collateralized by domestic and foreign corporate obligations valued at $170,310,340; 0.00% - 13.00%; 03/15/2022 - 05/15/2097)^(c)(i)		0.19%		03/02/2022		20,000,739	20,000,000
Societe Generale, joint open agreement dated 08/06/2019 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and domestic non-agency mortgage-backed securities valued at $78,729,067; 0.34% -13.00%; 03/15/2022 - 12/15/2072)^(c)(j)		0.25%		03/01/2022		25,000,174	25,000,000
Societe Generale, joint open agreement dated 08/20/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations and a domestic non-agency mortgage-backed security valued at $91,931,202; 0.98% -10.13%; 01/05/2023 - 03/11/2061)^(c)(j)		0.18%		03/01/2022		65,000,325	65,000,000

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

5 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


	Interest		Maturity		Repurchase
	Rate		Date		Amount		Value

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)		0.06%		03/01/2022	$	148,899,229	$	148,898,981

Total Repurchase Agreements (Cost $550,898,981)								550,898,981

TOTAL INVESTMENTS IN SECURITIES^(l)(m)-101.37% (Cost $2,241,779,487)								2,241,170,903

OTHER ASSETS LESS LIABILITIES-(1.37)%								(30,328,382	)

NET ASSETS-100.00%							$	2,210,842,521

Investment Abbreviations:


CEP		-Credit Enhancement Provider
FEDL		-Federal Funds Effective Rate
LOC		-Letter of Credit
MFH		-Multi-Family Housing
OBFR		-Overnight Bank Funding Rate
RB		-Revenue Bonds
Ref.		-Refunding
SOFR		-Secured Overnight Financing Rate
VRD		-Variable Rate Demand

Notes to Schedule of Investments:

^(a)	Securities may be traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.

^(b)

^(c)

^(d)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(e)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(f)	Security subject to the alternative minimum tax.

^(g)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(h)	Principal amount equals value at period end. See Note 1I.

⁽ⁱ⁾	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(j)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(k)	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(l)	Also represents cost for federal income tax purposes.

^(m)	Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer’s obligations but may be called upon to satisfy the issuer’s obligations. No concentration of any single entity was greater than 5% each.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7	51.3	%
8-30	4.1
31-60	10.4
61-90	5.2
91-180	20.9
181+	8.1

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

6 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco STIC Prime Portfolio


					Principal
	Interest		Maturity		Amount
	Rate		Date		(000)		Value
Commercial Paper-31.79%^(a)
Asset-Backed Securities - Fully Supported-4.95%
Ionic Capital II Trust (CEP - Citibank N.A.)		0.16%		03/04/2022	$	8,000	$ 7,999,916
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.29%		04/05/2022		5,000	4,998,955
							12,998,871

Asset-Backed Securities - Fully Supported Bank-13.50%
Concord Minutemen Capital Co. LLC^(b)(c)		0.18%		03/17/2022		5,000	4,999,745
Institutional Secured Funding LLC (Multi - CEP’s)^(b)(c)		0.18%		03/04/2022		7,000	6,999,872
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)^(b)(c)		0.17%		03/16/2022		7,430	7,429,515
Nieuw Amsterdam Receivables Corp. (CEP - Cooperatieve Rabobank U.A.)^(b)(c)		0.17%		03/17/2022		8,000	7,999,490
Sheffield Receivables Co. LLC (CEP - Barclays Bank PLC)^(b)(c)		0.15%		03/11/2022		8,000	7,999,755
							35,428,377

Diversified Banks-13.34%
Agricultural Bank of China Ltd.^(b)(c)		0.18%		03/07/2022		8,000	7,999,759
BNG Bank N.V.^(b)(c)		0.10%		03/01/2022		5,000	4,999,991
Nederlandse Waterschapsbank N.V.^(b)(c)		0.51%		03/31/2022		7,000	6,999,036
NRW Bank^(b)(c)		0.51%		04/01/2022		7,000	6,996,889
Sumitomo Mitsui Trust Bank Ltd.^(b)(c)		0.17%		03/16/2022		8,000	7,999,573
							34,995,248
Total Commercial Paper (Cost $83,419,659)							83,422,496

Certificates of Deposit-25.92%
ANZ New Zealand (Int’l) Ltd.^(c)		0.07%		03/01/2022		12,000	12,000,000
Canadian Imperial Bank of Commerce^(c)		0.07%		03/01/2022		12,000	12,000,000
Cooperatieve Rabobank U.A.^(c)		0.07%		03/01/2022		4,000	4,000,000
DZ Bank AG Deutsche Zentral-Genossenschaftsbank^(c)		0.06%		03/01/2022		10,000	10,000,000
Nordea Bank Abp^(c)		0.06%		03/01/2022		10,000	10,000,000
Skandinaviska Enskilda Banken AB^(c)		0.06%		03/01/2022		10,000	10,000,000
Svenska Handelsbanken AB^(c)		0.06%		03/01/2022		10,000	10,000,000
Total Certificates of Deposit (Cost $68,000,000)							68,000,000

Variable Rate Demand Notes-15.46%^(d)
Credit Enhanced-15.46%
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(e)		0.19%		06/01/2037		5,610	5,610,000
Illinois (State of) Housing Development Authority (Danbury Court Apartments-Phase II); Series 2004 B, VRD MFH RB (LOC - FHLB of Indianapolis)^(e)(f)		0.28%		12/01/2039		730	730,000
Jets Stadium Development LLC; Series 2007 A-4, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)^(b)(e)		0.26%		04/01/2047		7,800	7,800,000
Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank N.A.)^(e)		0.22%		05/01/2037		3,050	3,050,000
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(e)		0.19%		11/15/2046		3,000	3,000,000
Mobile Downtown Redevelopment Authority (The) (Austal USA LLC); Series 2011 B, Ref. VRD RB^(b)		0.22%		05/01/2041		6,000	6,000,000
Ohio (State of) Housing Finance Agency (Wingate at Belle Meadows); Series 2004, VRD RB^(f)		0.15%		10/01/2036		8,205	8,205,000
Portland (Port of), OR (Portland International Airport); Subseries 2008 18-A, Ref. VRD RB (LOC - Industrial & Commercial Bank of China Ltd.)^(c)(e)(f)		0.27%		07/01/2026		570	570,000
Southeast Texas Housing Finance Corp. (Mansions at Moses Lake Apartments); Series 2008, VRD RB (CEP - FHLMC)^(f)		0.26%		06/01/2041		890	890,000

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

7 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco STIC Prime Portfolio–(continued)


					Principal
	Interest		Maturity		Amount
	Rate		Date		(000)		Value

Credit Enhanced-(continued)
Ziegler Realty LLC; Series 2007, VRD Notes (LOC - Wells Fargo Bank N.A.)^(b)(e)		0.18%		01/01/2033	$	4,700	$	4,700,000

Total Variable Rate Demand Notes (Cost $40,555,000)								40,555,000

TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-73.17% (Cost $191,974,659)								191,977,496


					Repurchase
					Amount
Repurchase Agreements-32.14%^(g)
BMO Capital Markets Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $100,003,111 (collateralized by U.S government sponsored agency obligations, domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $103,576,455; 0.00% - 8.88%; 04/25/2022 - 06/20/2071)^(c)(h)		0.16%		03/01/2022		3,000,093		3,000,000

BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $150,004,958 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $157,182,535; 0.00% -8.20%; 02/13/2023 - 12/16/2062)^(c)(h)		0.17%		03/02/2022		3,000,099		3,000,000

BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $25,001,069 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $26,546,588; 0.00% - 10.00%; 12/07/2021 - 12/20/2065)^(c)(h)		0.22%		03/02/2022		3,000,128		3,000,000

BofA Securities, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $745,001,035 (collateralized by domestic agency mortgage-backed securities valued at $759,900,001; 0.46% - 7.50%; 09/25/2022 - 01/01/2052)		0.05%		03/01/2022		12,000,017		12,000,000

Citigroup Global Markets, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $400,000,556 (collateralized by U.S. Treasury obligations valued at $408,000,001; 0.00% - 0.13%; 01/15/2023 - 02/15/2051)		0.05%		03/01/2022		12,000,017		12,000,000

Credit Suisse Securities (USA) LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $10,000,095 (collateralized by domestic non-agency mortgage-backed securities valued at $10,500,001; 1.38% - 4.74%; 12/15/2046 - 01/20/2051)^(c)(i)		0.34%		03/01/2022		8,000,076		8,000,000

J.P. Morgan Securities LLC, joint open agreement dated 09/18/2020 (collateralized by domestic and foreign equity securities valued at $15,753,313; 0.00% - 8.50%; 10/31/2026 -01/31/2028)^(j)		0.27%		03/01/2022		8,001,680		8,000,000

Mitsubishi UFJ Trust & Banking Corp., joint open agreement dated 02/23/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations, domestic and foreign commercial paper and a U.S. Treasury obligation valued at $51,697,846; 0.00% - 8.50%; 03/01/2022 - 01/15/2082)^(c)(j)		0.20%		03/01/2022		7,001,089		7,000,000

Mizuho Securities (USA) LLC, joint open agreement dated 12/30/2021 (collateralized by domestic and foreign equity securities valued at $52,500,215; 0.00%)^(c)(j)		0.22%		03/01/2022		7,000,043		7,000,000

Societe Generale, joint open agreement dated 08/06/2019 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and domestic non-agency mortgage-backed securities valued at $78,729,067; 0.34% - 13.00%; 03/15/2022 - 12/15/2072)^(c)(j)		0.25%		03/01/2022		5,000,035		5,000,000

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)		0.06%		03/01/2022		16,326,257		16,326,230

Total Repurchase Agreements (Cost $84,326,230)								84,326,230

TOTAL INVESTMENTS IN SECURITIES^(k)(l)-105.31% (Cost $276,300,889)								276,303,726

OTHER ASSETS LESS LIABILITIES-(5.31)%								(13,931,465	)

NET ASSETS-100.00%							$	262,372,261

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

8 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco STIC Prime Portfolio–(continued)

Investment Abbreviations:


CEP		-Credit Enhancement Provider
FHLB		-Federal Home Loan Bank
FHLMC		-Federal Home Loan Mortgage Corp.
LOC		-Letter of Credit
MFH		-Multi-Family Housing
RB		-Revenue Bonds
Ref.		-Refunding
VRD		-Variable Rate Demand

Notes to Schedule of Investments:

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

^(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 February 28, 2022 was $93,922,580, which represented 35.80% of the Fund’s Net Assets.

^(c)

The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: Netherlands: 11.8; Japan: 8.4%; Canada: 8.0%; Sweden: 7.6%; France: 6.6%; Germany: 6.5%; Switzerland: 5.0%; other countries less than 5% each: 14.7%.

^(d)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(e)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(f)	Security subject to the alternative minimum tax.

^(g)	Principal amount equals value at period end. See Note 1I.

^(h)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

⁽ⁱ⁾	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(j)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(k)	Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer’s obligation but may be called upon to satisfy issuer’s obligations. No concentration of any single entity was greater than 5% each.

^(l)	Also represents cost for federal income tax purposes.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7		75.8%

8-30		13.9

31-60		10.3

61-90		0.0

91-180		0.0

181+		0.0

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

9 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio


				Principal
	Interest	Maturity		Amount
	Rate	Date		(000)		Value

U.S. Treasury Securities-60.06%
U.S. Treasury Bills-31.54%^(a)
U.S. Treasury Bills	0.11%		04/26/2022	$	721,000	$	720,876,629

U.S. Treasury Bills	0.29%-0.31%		05/12/2022		650,000		649,612,998

U.S. Treasury Bills	0.28%		05/24/2022		225,000		224,855,625

U.S. Treasury Bills	0.38%		05/26/2022		450,000		449,591,499

U.S. Treasury Bills	0.28%-0.29%		05/31/2022		1,200,000		1,199,141,564

U.S. Treasury Bills	0.09%-0.36%		06/02/2022		600,000		599,589,500

U.S. Treasury Bills	0.34%		06/07/2022		527,000		526,512,232

U.S. Treasury Bills	0.07%-0.26%		06/16/2022		535,000		534,676,771

U.S. Treasury Bills	0.55%		06/21/2022		460,000		459,212,889

U.S. Treasury Bills	0.57%		06/28/2022		500,000		499,057,915

U.S. Treasury Bills	0.08%		07/14/2022		150,000		149,957,812

U.S. Treasury Bills	0.11%		08/11/2022		200,000		199,900,842

U.S. Treasury Bills	0.08%-0.12%		09/08/2022		500,000		499,727,295

U.S. Treasury Bills	0.09%		10/06/2022		200,000		199,890,500

							6,912,604,071


U.S. Treasury Floating Rate Notes-15.08%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)	0.47%		04/30/2022		744,000		744,073,587

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)	0.42%		07/31/2022		350,000		350,001,528

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)	0.42%		10/31/2022		355,000		354,993,431

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)	0.41%		01/31/2023		100,000		100,000,000

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)	0.39%		04/30/2023		250,500		250,509,461

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)	0.39%		07/31/2023		627,000		627,019,367

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)	0.40%		10/31/2023		880,000		879,991,372

							3,306,588,746


U.S. Treasury Notes-13.44%
U.S. Treasury Notes	1.75%		03/31/2022		300,000		300,412,035

U.S. Treasury Notes	1.88%		03/31/2022		100,000		100,145,660

U.S. Treasury Notes	1.75%		04/30/2022		200,000		200,549,446

U.S. Treasury Notes	1.75%		06/15/2022		200,000		200,963,044

U.S. Treasury Notes	0.13%		06/30/2022		200,000		200,023,309

U.S. Treasury Notes	1.75%		06/30/2022		100,000		100,547,880

U.S. Treasury Notes	2.13%		06/30/2022		200,000		201,349,336

U.S. Treasury Notes	1.75%		07/15/2022		200,000		201,230,784

U.S. Treasury Notes	0.13%		07/31/2022		200,000		200,033,666

U.S. Treasury Notes	1.88%		07/31/2022		250,000		251,856,731

U.S. Treasury Notes	1.63%		08/15/2022		200,000		201,417,294

U.S. Treasury Notes	1.63%		08/31/2022		150,000		151,137,915

U.S. Treasury Notes	1.50%		09/15/2022		150,000		151,151,255

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

10 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)


					Principal
	Interest		Maturity		Amount
	Rate		Date		(000)		Value

U.S. Treasury Notes-(continued)

U.S. Treasury Notes		1.38%		10/15/2022	$	200,000	$	201,613,975


U.S. Treasury Notes		1.88%		10/31/2022		180,000		182,134,400


U.S. Treasury Notes		2.00%		10/31/2022		100,000		101,267,558

								2,945,834,288

Total U.S. Treasury Securities (Cost $13,165,027,105)								13,165,027,105


TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-60.06% (Cost $13,165,027,105)								13,165,027,105


					Repurchase
					Amount

Repurchase Agreements-44.00%^(c)

Bank of Nova Scotia, agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by U.S. Treasury obligations valued at $510,000,014; 0.13% - 2.75%; 09/30/2022 - 08/15/2029)		0.05%		03/01/2022		500,000,694		500,000,000


BofA Securities, Inc., agreement dated 02/28/2022, maturing value of $600,000,833 (collateralized by U.S. Treasury obligations valued at $612,000,010; 1.13% - 7.63%; 11/15/2024 - 05/15/2051)		0.05%		03/01/2022		600,000,833		600,000,000


CIBC World Markets Corp., joint term agreement dated 02/07/2022, aggregate maturing value of $350,020,319 (collateralized by U.S. Treasury obligations valued at $357,000,019; 0.00% - 4.50%; 07/14/2022 - 02/15/2051)^(d)		0.06%		03/17/2022		150,008,708		150,000,000


Citigroup Global Markets, Inc., joint term agreement dated 02/22/2022, aggregate maturing value of $300,003,208 (collateralized by U.S. Treasury obligations valued at $306,000,095; 1.25% - 2.25%; 11/15/2022 - 04/30/2028)^(d)		0.06%		03/01/2022		110,001,176		110,000,000


Credit Agricole Corporate & Investment Bank, joint agreement dated 02/28/2022, aggregate maturing value of $1,250,001,736 (collateralized by U.S. Treasury obligations valued at $1,275,000,039; 0.75% - 2.75%; 05/31/2023 - 09/30/2028)		0.05%		03/01/2022		950,001,319		950,000,000


Credit Agricole Corporate & Investment Bank, joint open agreement dated 12/01/2021 (collateralized by U.S. Treasury obligations valued at $2,032,860,462; 0.13% - 3.13%; 04/15/2024 - 11/15/2050)^(e)		0.05%		03/01/2022		450,017,375		450,000,000


DNB Bank ASA, agreement dated 02/28/2022, maturing value of $350,000,486 (collateralized by U.S. Treasury obligations valued at $361,046,466; 0.13% -1.63%; 07/15/2027 - 07/15/2031)		0.05%		03/01/2022		350,000,486		350,000,000


Federal Reserve Bank of New York, joint agreement dated 02/28/2022, aggregate maturing value of $800,001,111 (collateralized by U.S. Treasury obligations valued at $800,001,169; 0.13%; 11/30/2022)		0.05%		03/01/2022		200,000,278		200,000,000


Fixed Income Clearing Corp. - Bank of New York Mellon (The), agreement dated 02/28/2022, maturing value of $1,500,002,083 (collateralized by U.S. Treasury obligations valued at $1,530,000,063; 0.13% - 2.88%; 05/15/2022 - 11/15/2046)		0.05%		03/01/2022		1,500,002,083		1,500,000,000


Fixed Income Clearing Corp. - Bank of New York Mellon (The), joint agreement dated 02/28/2022, aggregate maturing value of $612,000,085 (collateralized by U.S. Treasury obligations valued at $624,240,130; 0.00%; 08/11/2022)		0.01%		03/01/2022		200,000,028		200,000,000


Goldman Sachs & Co., agreement dated 02/28/2022, maturing value of $250,000,347 (collateralized by a U.S. Treasury obligation valued at $255,000,014; 1.75%; 11/15/2029)		0.05%		03/01/2022		250,000,347		250,000,000


ING Financial Markets, LLC, agreement dated 02/28/2022, maturing value of $100,000,139 (collateralized by U.S. Treasury obligations valued at $102,000,056; 0.00% - 1.75%; 05/19/2022 - 02/15/2045)		0.05%		03/01/2022		100,000,139		100,000,000


J.P. Morgan Securities LLC, joint open agreement dated 03/27/2020 (collateralized by U.S. Treasury obligations valued at $867,001,467; 0.00% -2.38%; 03/03/2022 - 05/15/2050)^(e)		0.05%		03/01/2022		630,024,325		630,000,000

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

11 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)


	Interest		Maturity		Repurchase
	Rate		Date		Amount		Value


Metropolitan Life Insurance Co., joint term agreement dated 02/23/2022, aggregate maturing value of $350,014,295 (collateralized by U.S. Treasury obligations valued at $358,935,903; 0.00%; 08/15/2027 - 11/15/2045)^(d)		0.07%		03/02/2022	$	100,004,324	$	100,002,963


Mitsubishi UFJ Trust & Banking Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $768,135,455 (collateralized by U.S. Treasury obligations valued at $788,525,747; 1.13%; 02/28/2025 - 02/28/2027)^(d)		0.07%		03/02/2022		266,003,621		266,000,000


Mitsubishi UFJ Trust & Banking Corp., term agreement dated 02/23/2022, maturing value of $100,001,167 (collateralized by U.S. Treasury obligations valued at $102,001,081; 0.63% - 1.25%; 08/15/2030 - 08/15/2031)^(d)		0.06%		03/02/2022		100,001,167		100,000,000


Prudential Insurance Co. of America, agreement dated 02/28/2022, maturing value of $256,312,927 (collateralized by U.S. Treasury obligations valued at $264,258,250; 0.00%; 08/15/2027 - 08/15/2037)		0.06%		03/01/2022		256,312,927		256,312,500


Prudential Legacy Insurance Company of New Jersey, agreement dated 02/28/2022, maturing value of $348,750,581 (collateralized by U.S. Treasury obligations valued at $361,788,000; 0.00%; 08/15/2033 -02/15/2045)		0.06%		03/01/2022		348,750,581		348,750,000


RBC Dominion Securities Inc., joint term agreement dated 02/08/2022, aggregate maturing value of $500,016,667 (collateralized by U.S. Treasury obligations valued at $510,000,124; 0.13% - 6.00%; 07/15/2024 -02/15/2050)^(d)		0.05%		03/04/2022		100,003,333		100,000,000


RBC Dominion Securities Inc., joint term agreement dated 02/24/2022, aggregate maturing value of $500,004,861 (collateralized by U.S. Treasury obligations valued at $510,000,087; 0.13% - 5.25%; 04/30/2022 -02/15/2052)^(d)		0.05%		03/03/2022		250,002,431		250,000,000


Royal Bank of Canada, joint term agreement dated 02/11/2022, aggregate maturing value of $100,004,583 (collateralized by U.S. Treasury obligations valued at $102,000,076; 0.13% - 2.75%; 05/15/2022 - 11/15/2041)^(d)		0.05%		03/16/2022		50,002,292		50,000,000


Royal Bank of Canada, term agreement dated 02/23/2022, maturing value of $250,002,431 (collateralized by U.S. Treasury obligations valued at $255,000,061; 0.13% - 2.88%; 05/15/2022 - 11/15/2041)^(d)		0.05%		03/02/2022		250,002,431		250,000,000


Societe Generale, joint open agreement dated 01/05/2022 (collateralized by U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 7.63%; 03/01/2022 - 02/15/2052)^(e)		0.05%		03/01/2022		275,000,382		275,000,000


Societe Generale, joint open agreement dated 01/12/2022 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,530,000,206; 0.00% -7.63%; 03/01/2022 - 10/01/2051)^(e)		0.05%		03/01/2022		380,000,528		380,000,000


Standard Chartered Bank, agreement dated 02/28/2022, maturing value of $250,000,347 (collateralized by U.S. Treasury obligations valued at $255,000,373; 0.13% - 4.38%; 07/15/2023 - 05/15/2051)		0.05%		03/01/2022		250,000,347		250,000,000


Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,700,003,750 (collateralized by U.S. Treasury obligations valued at $2,754,000,090; 0.38% - 2.88%; 07/31/2022 -02/15/2051)		0.05%		03/01/2022		1,027,847,515		1,027,846,087

Total Repurchase Agreements (Cost $9,643,911,550)								9,643,911,550

TOTAL INVESTMENTS IN SECURITIES-104.06% (Cost $22,808,938,655)								22,808,938,655

OTHER ASSETS LESS LIABILITIES-(4.06)%								(889,390,382	)

NET ASSETS-100.00%							$	21,919,548,273

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(c)	Principal amount equals value at period end. See Note 1I.

^(d)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(e)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

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

12 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7		39.9%

8-30		0.0

31-60		5.1

61-90		10.4

91-180		27.7

181+		16.9

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

13 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio


						Principal
	Interest			Maturity		Amount
	Rate			Date		(000)		Value
U.S. Treasury Securities-61.01%
U.S. Treasury Bills-43.56%^(a)
U.S. Treasury Bills		0.06	%		03/01/2022	$	475,000	$ 475,000,000
U.S. Treasury Bills		0.07	%		03/10/2022		750,000	749,986,875
U.S. Treasury Bills		0.08	%		03/24/2022		715,000	714,965,740
U.S. Treasury Bills		0.07	%		03/29/2022		705,000	704,961,471
U.S. Treasury Bills		0.09	%		03/31/2022		815,000	814,942,271
U.S. Treasury Bills		0.25	%		04/12/2022		2,011,000	2,010,413,458
U.S. Treasury Bills		0.25	%		04/19/2022		3,000,000	2,998,979,164
U.S. Treasury Bills		0.07	%		04/21/2022		250,000	249,976,979
U.S. Treasury Bills		0.11	%		04/26/2022		1,690,000	1,689,603,342
U.S. Treasury Bills		0.24	%		05/05/2022		750,000	749,675,000
U.S. Treasury Bills		0.29	%		05/12/2022		1,200,000	1,199,303,997
U.S. Treasury Bills		0.23	%		05/17/2022		545,000	544,729,618
U.S. Treasury Bills		0.44	%		05/19/2022		500,000	499,517,223
U.S. Treasury Bills		0.25	%		05/24/2022		800,000	799,512,917
U.S. Treasury Bills		0.29	%		05/31/2022		2,000,000	1,998,572,943
U.S. Treasury Bills		0.09	%		06/02/2022		850,000	849,463,625
U.S. Treasury Bills		0.34	%		06/07/2022		1,550,000	1,548,572,738
U.S. Treasury Bills		0.11	%		06/09/2022		250,000	249,927,083
U.S. Treasury Bills		0.50	%		06/14/2022		905,000	903,692,954
U.S. Treasury Bills		0.07	%		06/16/2022		400,000	399,917,521
U.S. Treasury Bills		0.55	%		06/21/2022		1,565,000	1,562,322,111
U.S. Treasury Bills		0.57	%		06/28/2022		1,600,000	1,597,117,141
U.S. Treasury Bills		0.08	%		08/11/2022		300,000	299,891,333
U.S. Treasury Bills		0.61%-0.72	%		08/25/2022		2,075,000	2,068,206,952
U.S. Treasury Bills		0.08	%		09/08/2022		75,000	74,970,156
U.S. Treasury Bills		0.10	%		10/06/2022		860,000	859,518,656
								26,613,741,268

U.S. Treasury Floating Rate Notes-8.87%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)		0.47	%		04/30/2022		107,000	107,014,699
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42	%		07/31/2022		287,000	287,008,217
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42	%		10/31/2022		730,000	730,013,539
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)		0.41	%		01/31/2023		412,400	412,493,852
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39	%		04/30/2023		1,330,000	1,330,100,459
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39	%		07/31/2023		1,085,000	1,085,029,584
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)		0.40	%		10/31/2023		1,238,679	1,238,723,205
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate - 0.02%)^(b)		0.35	%		01/31/2024		230,000	229,924,030
								5,420,307,585

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

14 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


					Principal
	Interest		Maturity		Amount
	Rate		Date		(000)		Value

U.S. Treasury Notes-8.58%
U.S. Treasury Notes		2.38%		03/15/2022	$	46,000	$ 46,040,879
U.S. Treasury Notes		1.75%		03/31/2022		650,000	650,895,927
U.S. Treasury Notes		1.88%		03/31/2022		925,000	926,373,709
U.S. Treasury Notes		1.75%		04/30/2022		50,000	50,137,302
U.S. Treasury Notes		1.88%		04/30/2022		150,000	150,446,901
U.S. Treasury Notes		1.75%		05/15/2022		135,000	135,465,164
U.S. Treasury Notes		2.13%		05/15/2022		190,000	190,803,023
U.S. Treasury Notes		1.75%		05/31/2022		50,000	50,209,503
U.S. Treasury Notes		1.75%		06/30/2022		739,243	743,325,465
U.S. Treasury Notes		2.13%		06/30/2022		660,000	664,453,821
U.S. Treasury Notes		1.75%		07/15/2022		625,000	628,878,536
U.S. Treasury Notes		0.13%		07/31/2022		150,000	150,011,557
U.S. Treasury Notes		2.00%		07/31/2022		210,000	211,669,979
U.S. Treasury Notes		1.50%		08/15/2022		140,000	140,910,651
U.S. Treasury Notes		1.63%		08/15/2022		100,000	100,703,676
U.S. Treasury Notes		1.88%		08/31/2022		90,000	90,521,762
U.S. Treasury Notes		1.50%		09/15/2022		210,000	211,598,819
U.S. Treasury Notes		1.75%		09/30/2022		100,000	100,971,671
							5,243,418,345
Total U.S. Treasury Securities (Cost $37,277,467,198)							37,277,467,198

U.S. Government Sponsored Agency Securities-8.16%
Federal Farm Credit Bank (FFCB)-3.16%
Federal Farm Credit Bank (SOFR + 0.08%)^(b)		0.13%		03/10/2022		28,000	28,000,000
Federal Farm Credit Bank (SOFR + 0.09%)^(b)		0.13%		06/17/2022		65,000	65,000,000
Federal Farm Credit Bank (SOFR + 0.20%)^(b)		0.25%		06/23/2022		12,000	12,004,748
Federal Farm Credit Bank (SOFR + 0.19%)^(b)		0.24%		07/14/2022		28,000	28,000,000
Federal Farm Credit Bank (SOFR + 0.15%)^(b)		0.19%		07/28/2022		45,000	45,000,000
Federal Farm Credit Bank (SOFR + 0.07%)^(b)		0.12%		08/11/2022		108,000	108,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		08/26/2022		97,500	97,497,588
Federal Farm Credit Bank (SOFR + 0.09%)^(b)		0.13%		10/07/2022		30,000	30,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		10/12/2022		18,000	18,000,562
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		10/21/2022		20,000	20,000,000
Federal Farm Credit Bank (SOFR + 0.08%)^(b)		0.13%		11/03/2022		35,000	35,000,000
Federal Farm Credit Bank (SOFR + 0.01%)^(b)		0.06%		11/16/2022		185,000	184,997,327
Federal Farm Credit Bank (SOFR + 0.07%)^(b)		0.12%		11/18/2022		56,000	56,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		12/01/2022		74,000	74,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		12/28/2022		350,000	350,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		02/09/2023		18,000	18,000,000
Federal Farm Credit Bank (SOFR + 0.02%)^(b)		0.07%		06/12/2023		75,000	75,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		06/14/2023		58,000	58,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		07/07/2023		143,000	143,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.07%		09/08/2023		155,000	155,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		09/18/2023		21,500	21,500,000
Federal Farm Credit Bank (SOFR + 0.04%)^(b)		0.09%		09/20/2023		25,000	25,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.07%		09/27/2023		60,000	60,000,000

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

15 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


					Principal
	Interest		Maturity		Amount
	Rate		Date		(000)		Value

Federal Farm Credit Bank (FFCB)-(continued)
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.10%		11/07/2023	$	50,000	$ 50,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		12/13/2023		84,000	84,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		01/10/2024		75,500	75,500,000
Federal Farm Credit Bank (SOFR + 0.04%)^(b)		0.09%		01/25/2024		15,000	15,000,000
							1,931,500,225

Federal Home Loan Bank (FHLB)-4.23%
Federal Home Loan Bank		0.05%		03/17/2022		200,000	199,998,812
Federal Home Loan Bank (SOFR + 0.07%)^(b)		0.12%		04/14/2022		45,000	45,000,000
Federal Home Loan Bank (SOFR + 0.07%)^(b)		0.11%		04/28/2022		28,000	28,000,000
Federal Home Loan Bank		0.06%		05/06/2022		29,000	28,999,425
Federal Home Loan Bank^(a)		0.27%		05/11/2022		244,000	243,872,476
Federal Home Loan Bank (SOFR + 0.06%)^(b)		0.11%		05/12/2022		35,000	35,000,000
Federal Home Loan Bank^(a)		0.40%		05/18/2022		114,800	114,700,507
Federal Home Loan Bank^(a)		0.40%		05/20/2022		1,101,000	1,100,021,333
Federal Home Loan Bank		2.13%		06/10/2022		55,750	56,054,443
Federal Home Loan Bank (SOFR + 0.13%)^(b)		0.18%		08/05/2022		80,000	80,000,000
Federal Home Loan Bank (SOFR + 0.09%)^(b)		0.14%		08/19/2022		380,000	380,003,070
Federal Home Loan Bank (SOFR + 0.09%)^(b)		0.13%		10/05/2022		80,000	80,000,000
Federal Home Loan Bank (SOFR + 0.06%)^(b)		0.11%		12/08/2022		63,200	63,202,161
Federal Home Loan Bank (SOFR + 0.06%)^(b)		0.11%		12/16/2022		3,500	3,500,845
Federal Home Loan Bank (SOFR + 0.03%)^(b)		0.08%		06/07/2023		125,000	125,000,000
							2,583,353,072

Federal Home Loan Mortgage Corp. (FHLMC)-0.40%
Federal Home Loan Mortgage Corp.		0.25%		06/08/2022		15,510	15,517,146
Federal Home Loan Mortgage Corp.		0.13%		07/25/2022		38,000	38,002,165
Federal Home Loan Mortgage Corp. (SOFR + 0.09%)^(b)		0.14%		09/16/2022		190,000	190,000,000
							243,519,311

Federal National Mortgage Association (FNMA)-0.00%
Federal National Mortgage Association^(a)		0.20%		03/09/2022		2,500	2,499,889

U.S. International Development Finance Corp. (DFC)-0.37%
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		06/15/2025		16,800	16,800,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		07/15/2025		18,278	18,277,780
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/15/2025		3,947	3,947,368
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/15/2026		4,750	4,750,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/15/2026		7,917	7,916,667
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		08/13/2027		8,000	8,000,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		08/13/2027		4,600	4,600,000

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

16 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


					Principal
	Interest		Maturity		Amount
	Rate		Date		(000)		Value

U.S. International Development Finance Corp. (DFC)-(continued)
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/30/2027	$	12,000	$ 12,000,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		02/15/2028		13,333	13,333,333
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		11/15/2028		61,364	61,363,637
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.20%		05/15/2030		7,488	7,488,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		10/15/2030		7,778	7,777,778
U.S. International Development Finance Corp. VRD Notes (3 mo. U.S. Treasury Bill Rate)^(c)		0.16%		07/09/2026		22,950	22,950,000
U.S. International Development Finance Corp. VRD Notes (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		03/15/2030		37,125	37,125,000
							226,329,563
Total U.S. Government Sponsored Agency Securities (Cost $4,987,202,060)							4,987,202,060

TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-69.17% (Cost $42,264,669,258)							42,264,669,258

					Repurchase
					Amount

Repurchase Agreements-35.49%^(d)
ABN AMRO Bank N.V., agreement dated 02/28/2022, maturing value of $350,000,486 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $357,000,074; 1.30% - 4.50%; 06/30/2022 - 09/16/2063)		0.05%		03/01/2022		350,000,486	350,000,000
ABN AMRO Bank N.V., agreement dated 02/28/2022, maturing value of $450,000,625 (collateralized by U.S. Treasury obligations valued at $459,000,068; 0.13% - 3.38%; 06/30/2022 - 02/15/2051)		0.05%		03/01/2022		450,000,625	450,000,000
Bank of Montreal, joint term agreement dated 02/10/2022, aggregate maturing value of $250,014,583 (collateralized by domestic agency mortgage-backed securities valued at $255,000,000; 2.50% - 4.50%; 11/01/2046 -02/01/2052)^(e)		0.06%		03/17/2022		125,007,292	125,000,000
BNP Paribas Securities Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $500,004,861 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,007; 0.00% - 7.00%; 06/21/2022 - 02/01/2052)^(e)		0.05%		03/01/2022		385,003,743	385,000,000
BofA Securities, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $745,001,035 (collateralized by domestic agency mortgage-backed securities valued at $759,900,001; 0.46% - 7.50%; 09/25/2022 -01/01/2052)		0.05%		03/01/2022		238,000,331	238,000,000
CIBC World Markets Corp., joint term agreement dated 01/24/2022, aggregate maturing value of $500,043,333 (collateralized by domestic agency mortgage-backed securities valued at $510,000,000; 1.50% - 4.50%; 10/01/2036 - 03/01/2052)^(e)		0.06%		03/17/2022		350,030,333	350,000,000
CIBC World Markets Corp., joint term agreement dated 02/07/2022, aggregate maturing value of $350,020,319 (collateralized by U.S. Treasury obligations valued at $357,000,019; 0.00% - 4.50%; 07/14/2022 - 02/15/2051)^(e)		0.06%		03/17/2022		200,011,611	200,000,000
Citigroup Global Markets, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $400,000,556 (collateralized by U.S. Treasury obligations valued at $408,000,001; 0.00% - 0.13%; 01/15/2023 - 02/15/2051)		0.05%		03/01/2022		113,000,157	113,000,000

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

17 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest		Maturity		Repurchase
	Rate		Date		Amount		Value
Citigroup Global Markets, Inc., joint term agreement dated 02/22/2022, aggregate maturing value of $500,005,833 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,029; 0.00% - 17.46%; 07/31/2023 - 07/20/2070)^(e)		0.06%		03/01/2022	$	400,004,667	$ 400,000,000
Credit Agricole Corporate & Investment Bank, agreement dated 02/28/2022, maturing value of $200,000,278 (collateralized by a domestic agency mortgage-backed security valued at $204,000,001; 2.00%; 01/20/2051)		0.05%		03/01/2022		200,000,278	200,000,000
Credit Agricole Corporate & Investment Bank, joint open agreement dated 12/01/2021 (collateralized by U.S. Treasury obligations valued at $2,032,860,462; 0.13% - 3.13%; 04/15/2024 - 11/15/2050)^(f)		0.05%		03/01/2022		1,242,047,955	1,242,000,000
Federal Reserve Bank of New York, joint agreement dated 02/28/2022, aggregate maturing value of $800,001,111 (collateralized by U.S. Treasury obligations valued at $800,001,169; 0.13%; 11/30/2022)		0.05%		03/01/2022		600,000,833	600,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), agreement dated 02/28/2022, maturing value of $3,500,004,861 (collateralized by U.S. Treasury obligations valued at $3,570,000,054; 0.13% - 3.88%; 01/15/2026 - 02/15/2044)		0.05%		03/01/2022		3,500,004,861	3,500,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), joint agreement dated 02/28/2022, aggregate maturing value of $612,000,085 (collateralized by U.S. Treasury obligations valued at $624,240,130; 0.00%; 08/11/2022)		0.01%		03/01/2022		412,000,057	412,000,000
Fixed Income Clearing Corp. - State Street Bank, agreement dated 02/28/2022, maturing value of $300,000,083 (collateralized by U.S. Treasury obligations valued at $306,000,068; 0.13% - 0.47%; 04/15/2022 - 04/30/2022)		0.01%		03/01/2022		300,000,083	300,000,000
Goldman Sachs & Co., agreement dated 02/28/2022, maturing value of $500,000,139 (collateralized by U.S. Treasury obligations valued at $510,000,000; 0.00% - 7.63%; 04/07/2022 - 02/15/2052)		0.01%		03/01/2022		500,000,139	500,000,000
Goldman Sachs & Co., term agreement dated 02/22/2022, maturing value of $295,003,155 (collateralized by U.S. Treasury obligations valued at $300,900,027; 0.00% - 2.50%; 08/15/2022 - 02/28/2026)^(e)		0.06%		03/01/2022		295,003,155	295,000,000
ING Financial Markets, LLC, joint term agreement dated 02/22/2022, aggregate maturing value of $200,008,944 (collateralized by domestic agency mortgage-backed securities valued at $204,000,000; 1.50% - 4.50%; 10/01/2029 - 05/01/2058)		0.07%		03/17/2022		130,005,814	130,000,000
ING Financial Markets, LLC, joint term agreement dated 12/28/2021, aggregate maturing value of $350,070,000 (collateralized by U.S. government sponsored agency obligations and domestic agency mortgage-backed securities valued at $357,000,395; 0.00% - 7.50%; 12/28/2022 - 05/01/2058)		0.08%		03/28/2022		300,060,000	300,000,000
ING Financial Markets, LLC, term agreement dated 02/07/2022, maturing value of $200,010,667 (collateralized by domestic agency mortgage-backed securities valued at $204,000,000; 1.50% - 7.50%; 06/01/2027 - 02/01/2052)		0.06%		03/11/2022		200,010,667	200,000,000
ING Financial Markets, LLC, term agreement dated 02/10/2022, maturing value of $275,013,292 (collateralized by U.S. government sponsored agency obligations and domestic agency mortgage-backed securities valued at $280,500,646; 0.00% - 5.00%; 04/05/2022 - 02/01/2052)		0.06%		03/11/2022		275,013,292	275,000,000
J.P. Morgan Securities LLC, joint agreement dated 02/28/2022, aggregate maturing value of $1,000,001,667 (collateralized by domestic agency mortgage-backed securities valued at $1,020,000,000; 0.46% - 7.50%; 06/25/2025 - 10/16/2062)		0.06%		03/01/2022		800,001,333	800,000,000
J.P. Morgan Securities LLC, joint open agreement dated 03/27/2020 (collateralized by U.S. Treasury obligations valued at $867,001,467; 0.00% - 2.38%; 03/03/2022 - 05/15/2050)^(f)		0.05%		03/01/2022		150,005,792	150,000,000
J.P. Morgan Securities LLC, joint open agreement dated 07/01/2021 (collateralized by domestic agency mortgage-backed securities valued at $239,700,000; 0.47% - 6.00%; 01/01/2026 - 10/15/2061)^(f)		0.06%		03/01/2022		210,009,742	210,000,000

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

18 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest		Maturity		Repurchase
	Rate		Date		Amount		Value
J.P. Morgan Securities LLC, joint open agreement dated 07/01/2021 (collateralized by domestic agency mortgage-backed securities valued at $280,500,035; 1.85% - 6.00%; 07/01/2026 - 02/20/2052)^(f)		0.07%		03/01/2022	$	240,013,000	$ 240,000,000
J.P. Morgan Securities LLC, joint open agreement dated 10/15/2019 (collateralized by domestic agency mortgage-backed securities valued at $382,500,005; 0.46% - 7.50%; 12/15/2026 - 02/16/2058)^(f)		0.07%		03/01/2022		275,014,896	275,000,000
Metropolitan Life Insurance Co., joint term agreement dated 02/23/2022, aggregate maturing value of $350,014,295 (collateralized by U.S. Treasury obligations valued at $358,935,903; 0.00%; 08/15/2027 - 11/15/2045)^(e)		0.07%		03/02/2022		170,004,314	170,002,000
Mitsubishi UFJ Trust & Banking Corp., agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by domestic agency mortgage-backed securities valued at $510,000,000; 0.30% - 3.50%; 08/25/2027 -01/20/2052)		0.05%		03/01/2022		500,000,694	500,000,000
Mitsubishi UFJ Trust & Banking Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $768,135,455 (collateralized by U.S. Treasury obligations valued at $788,525,747; 1.13%; 02/28/2025 - 02/28/2027)^(e)		0.07%		03/02/2022		338,192,103	338,187,500
Mizuho Securities (USA) LLC, agreement dated 02/28/2022, maturing value of $200,000,278 (collateralized by U.S. Treasury obligations valued at $204,000,019; 0.00%; 03/31/2022 - 08/04/2022)		0.05%		03/01/2022		200,000,278	200,000,000
Prudential Insurance Co. of America, agreement dated 02/28/2022, maturing value of $509,883,350 (collateralized by U.S. Treasury obligations valued at $528,644,040; 0.00%; 02/15/2026 - 11/15/2043)		0.06%		03/01/2022		509,883,350	509,882,500
RBC Capital Markets LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $750,001,875 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $765,000,244; 0.13% - 8.00%; 03/01/2022 - 08/20/2065)^(e)(g)		0.09%		03/01/2022		600,001,500	600,000,000
RBC Dominion Securities Inc., agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,049; 0.00% - 5.50%; 07/15/2024 - 01/15/2052)		0.05%		03/01/2022		500,000,694	500,000,000
RBC Dominion Securities Inc., joint term agreement dated 01/11/2022, aggregate maturing value of $500,049,167 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,022; 0.00% - 6.00%; 03/31/2022 - 01/15/2052)^(e)		0.06%		03/11/2022		250,024,583	250,000,000
RBC Dominion Securities Inc., joint term agreement dated 01/19/2022, aggregate maturing value of $1,000,076,389 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 5.50%; 02/15/2030 - 01/15/2052)^(e)		0.06%		03/10/2022		875,066,840	875,000,000
RBC Dominion Securities Inc., joint term agreement dated 02/08/2022, aggregate maturing value of $500,016,667 (collateralized by U.S. Treasury obligations valued at $510,000,124; 0.13% - 6.00%; 07/15/2024 - 02/15/2050)^(e)		0.05%		03/04/2022		200,006,667	200,000,000
RBC Dominion Securities Inc., joint term agreement dated 02/24/2022, aggregate maturing value of $500,004,861 (collateralized by U.S. Treasury obligations valued at $510,000,087; 0.13% - 5.25%; 04/30/2022 - 02/15/2052)^(e)		0.05%		03/03/2022		250,002,431	250,000,000
Royal Bank of Canada, joint term agreement dated 02/11/2022, aggregate maturing value of $100,004,583 (collateralized by U.S. Treasury obligations valued at $102,000,076; 0.13% - 2.75%; 05/15/2022 - 11/15/2041)^(e)		0.05%		03/16/2022		50,002,292	50,000,000
Societe Generale, joint agreement dated 02/28/2022, aggregate maturing value of $1,600,002,222 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,632,000,047; 0.00% - 7.13%; 03/15/2022 - 02/01/2052)		0.05%		03/01/2022		1,350,001,875	1,350,000,000

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

19 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest		Maturity		Repurchase
	Rate		Date		Amount		Value

Societe Generale, joint open agreement dated 01/05/2022 (collateralized by U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 7.63%; 03/01/2022 - 02/15/2052)^(f)		0.05%		03/01/2022	$	575,000,799	$	575,000,000

Societe Generale, joint open agreement dated 01/12/2022 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,530,000,206; 0.00% -7.63%; 03/01/2022 - 10/01/2051)^(f)		0.05%		03/01/2022		890,001,236		890,000,000

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)		0.06%		03/01/2022		455,713,751		455,712,991

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,700,003,750 (collateralized by U.S. Treasury obligations valued at $2,754,000,090; 0.38% - 2.88%; 07/31/2022 - 02/15/2051)		0.05%		03/01/2022		1,672,156,235		1,672,153,913

TD Securities (USA) LLC, term agreement dated 02/23/2022, maturing value of $55,000,588 (collateralized by a U.S. Treasury obligation valued at $56,100,009; 2.75%; 11/15/2023)^(e)		0.06%		03/02/2022		55,000,588		55,000,000

Total Repurchase Agreements (Cost $21,680,938,904)								21,680,938,904

TOTAL INVESTMENTS IN SECURITIES-104.66% (Cost $63,945,608,162)								63,945,608,162

OTHER ASSETS LESS LIABILITIES-(4.66)%								(2,849,604,491	)

NET ASSETS-100.00%							$	61,096,003,671

Investment Abbreviations:


SOFR		-Secured Overnight Financing Rate
VRD		-Variable Rate Demand

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(c)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(d)	Principal amount equals value at period end. See Note 1I.

^(e)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(f)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(g)	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7			30.1%

8-30			5.5

31-60			15.4

61-90			9.7

91-180			25.6

181+			13.7

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

20 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Treasury Obligations Portfolio


					Principal
	Interest		Maturity		Amount
	Rate		Date		(000)		Value
U.S. Treasury Securities-113.88%
U.S. Treasury Bills-96.41%^(a)
U.S. Treasury Bills		0.06%		03/01/2022	$	73,600	$ 73,600,000
U.S. Treasury Bills		0.01%-0.05%		03/03/2022		40,700	40,699,891
U.S. Treasury Bills		0.06%		03/08/2022		84,000	83,999,469
U.S. Treasury Bills		0.06%-0.07%		03/10/2022		32,000	31,999,504
U.S. Treasury Bills		0.02%-0.05%		03/15/2022		105,000	104,998,816
U.S. Treasury Bills		0.06%		03/17/2022		20,500	20,499,499
U.S. Treasury Bills		0.05%-0.08%		03/22/2022		86,938	86,933,792
U.S. Treasury Bills		0.14%		03/29/2022		88,600	88,594,856
U.S. Treasury Bills		0.09%		03/31/2022		15,650	15,648,891
U.S. Treasury Bills		0.14%		04/05/2022		30,000	29,995,916
U.S. Treasury Bills		0.09%		04/07/2022		30,000	29,997,225
U.S. Treasury Bills		0.25%		04/12/2022		70,000	69,979,583
U.S. Treasury Bills		0.12%		04/14/2022		20,000	19,997,030
U.S. Treasury Bills		0.25%		04/19/2022		80,000	79,972,778
U.S. Treasury Bills		0.07%-0.17%		04/21/2022		21,000	20,996,391
U.S. Treasury Bills		0.11%		04/26/2022		70,000	69,981,022
U.S. Treasury Bills		0.19%		04/28/2022		21,000	20,993,572
U.S. Treasury Bills		0.21%		05/03/2022		8,000	7,997,130
U.S. Treasury Bills		0.24%		05/05/2022		30,000	29,987,000
U.S. Treasury Bills		0.26%		05/10/2022		1,467	1,466,265
U.S. Treasury Bills		0.29%		05/12/2022		30,000	29,982,600
U.S. Treasury Bills		0.23%		05/17/2022		11,000	10,994,590
U.S. Treasury Bills		0.40%		05/19/2022		7,000	6,993,902
U.S. Treasury Bills		0.28%		05/24/2022		11,000	10,993,058
U.S. Treasury Bills		0.38%		05/26/2022		30,000	29,972,767
U.S. Treasury Bills		0.29%		05/31/2022		20,000	19,985,781
U.S. Treasury Bills		0.09%		06/02/2022		54,000	53,953,570
U.S. Treasury Bills		0.34%		06/07/2022		15,000	14,986,117
U.S. Treasury Bills		0.07%		06/16/2022		3,000	2,999,376
U.S. Treasury Bills		0.55%		06/21/2022		16,000	15,972,622
U.S. Treasury Bills		0.57%		06/28/2022		29,000	28,945,359
U.S. Treasury Bills		0.38%		07/07/2022		7,000	6,990,505
U.S. Treasury Bills		0.71%		08/25/2022		12,000	11,958,110
							1,173,066,987

U.S. Treasury Floating Rate Notes-17.06%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)		0.47%		04/30/2022		55,000	55,002,639
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		07/31/2022		22,000	22,000,544
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		10/31/2022		45,000	44,999,181
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)		0.41%		01/31/2023		11,000	11,001,688
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		04/30/2023		19,000	19,000,897

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

21 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Obligations Portfolio–(continued)


					Principal
	Interest		Maturity		Amount
	Rate		Date		(000)		Value

U.S. Treasury Floating Rate Notes-(continued)
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		07/31/2023	$	17,500	$ 17,500,602

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)		0.40%		10/31/2023		30,000	30,000,861

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate - 0.02%)^(b)		0.35%		01/31/2024		8,000	7,997,358

							207,503,770


U.S. Treasury Notes-0.41%
U.S. Treasury Notes (Cost $5,036,995)		1.88%		07/31/2022		5,000	5,036,995

TOTAL INVESTMENTS IN SECURITIES-113.88% (Cost $1,385,607,752)							1,385,607,752

OTHER ASSETS LESS LIABILITIES-(13.88)%							(168,891,225)

NET ASSETS-100.00%							$1,216,716,527

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7			8.3%

8-30			30.1

31-60			25.8

61-90			13.2

91-180			13.2

181+			9.4

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

22 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio


					Principal
	Interest		Maturity		Amount
	Rate		Date		(000)		Value
Municipal Obligations-99.97%
Alabama-3.24%
Mobile (County of), AL Industrial Development Authority (SSAB Alabama, Inc.); Series 2010 A, VRD RB (LOC - Swedbank AB)^(a)(b)(c)		0.28%		07/01/2040	$	5,500	$ 5,500,000

Arizona-3.20%
Casa Grande (City of), AZ Industrial Development Authority (Quail Gardens Apartments); Series 2001 A, Ref. VRD RB (CEP - FNMA)^(b)		0.20%		06/15/2031		2,685	2,685,000
Sierra Vista (City of), AZ Industrial Development Authority (Mountain Steppes Apartments); Series 2001 A, Ref. VRD RB (CEP - FNMA)^(b)		0.20%		06/15/2031		2,745	2,745,000
							5,430,000

California-1.47%
California (State of);
Series 2022 A-1, Commercial Paper Notes (LOC - Wells Fargo Bank N.A.)^(c)		0.17%		03/01/2022		1,500	1,500,000
Series 2022 A-5, Commercial Paper Notes (LOC - U.S. Bank N.A.)^(c)		0.17%		03/01/2022		1,000	1,000,000
							2,500,000

Delaware-2.47%
Delaware (State of) Economic Development Authority (Goodwill Industries of Delaware & Delaware County); Series 2006, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.20%		09/01/2036		2,655	2,655,000
Delaware (State of) Economic Development Authority (YMCA of Delaware); Series 2007, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.21%		05/01/2036		1,535	1,535,000
							4,190,000

District of Columbia-1.66%
District of Columbia (Medlantic/Helix); Series 1998 A, VRD RB (LOC - TD Bank N.A.)^(a)(b)(c)		0.19%		08/15/2038		2,820	2,820,000

Florida-6.01%
Palm Beach (County of), FL (Henry Morrison Flagler Museum); Series 2003, VRD RB (LOC - Northern Trust Co. (The))^(b)(c)		0.25%		11/01/2036		2,725	2,725,000
Palm Beach (County of), FL (The Raymond F. Kravis Center for the Performing Arts, Inc.); Series 2002, VRD RB (LOC - Northern Trust Co. (The))^(b)(c)		0.21%		07/01/2032		2,400	2,400,000
Sarasota (County of), FL Public Hospital District (Sarasota Memorial Hospital); Series 2008 B, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(b)(c)		0.20%		07/01/2037		5,075	5,075,000
							10,200,000

Georgia-1.13%
Atlanta (City of), GA Georgia Development Authority (Perkins + Will, Inc.); Series 2010, VRD RB (LOC - BMO Harris Bank N.A.)^(a)(b)(c)		0.20%		11/01/2030		1,920	1,920,000

Illinois-10.32%
Illinois (State of) Educational Facilities Authority (The Adler Planetarium); Series 1997, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.20%		04/01/2031		5,000	5,000,000
Illinois (State of) Finance Authority (Northwestern University); Subseries 2008 B, VRD RB^(b)		0.20%		12/01/2046		5,730	5,730,000
Illinois (State of) Finance Authority (Uhlich Children’s Home); Series 2002, VRD IDR (LOC - U.S. Bank N.A.)^(b)(c)		0.20%		10/01/2033		2,625	2,625,000
Illinois (State of) Housing Development Authority (Foxview I & II Apartments); Series 2008, VRD MFH RB (LOC - FHLMC)^(b)(c)		0.13%		01/01/2041		4,160	4,160,000
							17,515,000

Indiana-1.83%
Huntington (City of), IN (Huntington University); Series 2007, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(b)(c)		0.25%		08/01/2037		3,105	3,105,000

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

23 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)


					Principal
	Interest		Maturity		Amount
	Rate		Date		(000)		Value

Iowa-1.65%
Iowa (State of) Finance Authority (CJ Bio America); Series 2021, Ref. VRD RB^(a)(b)(d)		0.24%		12/01/2041	$	2,805	$ 2,805,000

Louisiana-3.64%
Louisiana (State of) Offshore Terminal Authority Deepwater Port (Loop LLC); Series 2013 B, Ref. VRD RB (LOC - JPMorgan Chase Bank N.A.)^(b)(c)		0.23%		09/01/2033		1,000	1,000,000
Louisiana (State of) Public Facilities Authority (CHRISTUS Health);
Series 2009 B-3, Ref. VRD RB (LOC - Bank of New York Mellon (The))^(b)(c)		0.21%		07/01/2047		4,085	4,085,000
Series 2009 B-1, Ref. VRD RB (LOC - Bank of New York Mellon (The))^(b)(c)		0.21%		07/01/2047		1,100	1,100,000
							6,185,000

Maryland-0.59%
Montgomery (County of), MD; Series 2010 B, Commercial Paper Notes		0.10%		03/01/2022		1,000	1,000,000

Massachusetts-4.71%
Massachusetts (State of) Department of Transportation; Series 2010 A-1, VRD Metropolitan Highway System RB (LOC - Citibank N.A.)^(b)(c)		0.16%		01/01/2037		3,000	3,000,000
Massachusetts (State of) Health & Educational Facilities Authority; Series 2021 EE, Commercial Paper Notes		0.09%		03/01/2022		5,000	5,000,000
							8,000,000

Michigan-3.15%
Kent (County of), MI Hospital Finance Authority (Spectrum Health System); Series 2008 C, Ref. VRD RB (LOC - Bank of New York Mellon (The))^(b)(c)		0.21%		01/15/2026		820	820,000
Michigan State University Board of Trustees;
Series 2000 A-1, VRD RB^(b)		0.21%		08/15/2030		3,620	3,620,000
Series 2000 A-2, VRD RB^(b)		0.21%		08/15/2030		910	910,000
							5,350,000

Minnesota-5.82%
Burnsville (City of), MN (Bridgeway Apartments L.P.); Series 2003, Ref. VRD RB (CEP - FNMA)^(b)		0.28%		10/15/2033		1,175	1,175,000
Oak Park Heights (City of), MN (Boutwells Landing); Series 2005, Ref. VRD RB (CEP - FHLMC)^(b)		0.19%		11/01/2035		3,700	3,700,000
St. Paul (City of), MN Housing & Redevelopment Authority (Highland Ridge, L.P.); Series 2003, Ref. VRD RB (CEP - FHLMC)^(b)		0.19%		10/01/2033		1,000	1,000,000
University of Minnesota; Series 2022 H, Commercial Paper Notes		0.26%		03/17/2022		4,000	4,000,000
							9,875,000

Mississippi-1.95%
Mississippi Business Finance Corp. (Chevron U.S.A., Inc.);
Series 2010 C, VRD IDR^(b)		0.22%		12/01/2030		585	585,000
Series 2010 E, VRD IDR^(b)		0.22%		12/01/2030		2,730	2,730,000
							3,315,000

Missouri-1.59%
Bridgeton (City of), MO Industrial Development Authority (Stolze Printing); Series 2010, VRD RB (LOC - FHLB of Chicago)^(b)(c)		0.20%		11/01/2037		1,320	1,320,000
Missouri (State of) Development Finance Board (Kopytek Printing); Series 2010, VRD IDR (LOC - FHLB of Chicago)^(b)(c)		0.35%		08/01/2038		1,385	1,385,000
							2,705,000

New Jersey-2.94%
New Jersey (State of) Health Care Facilities Financing Authority (Virtua Health); Series 2009 D, VRD RB (LOC - TD Bank N.A.)^(a)(b)(c)		0.18%		07/01/2043		5,000	5,000,000

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

24 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)


					Principal
	Interest		Maturity		Amount
	Rate		Date		(000)		Value
New York-4.08%
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.19%		11/15/2046	$	3,320	$ 3,320,000
New York (State of) Energy Research & Development Authority (Consolidated Edison Co. of New York, Inc.); Subseries 2005 A-2, VRD RB (LOC - Mizuho Bank Ltd.)^(a)(b)(c)		0.19%		05/01/2039		3,600	3,600,000
							6,920,000

North Carolina-0.76%
North Carolina (State of) Educational Facilities Finance Agency (Duke University); Series 1992 A, VRD RB^(b)		0.15%		06/01/2027		1,285	1,285,000

Ohio-1.67%
Lorain (County of), OH Port Authority (St. Ignatius High School); Series 2008, VRD RB (LOC - U.S. Bank N.A.)^(b)(c)		0.20%		08/02/2038		2,835	2,835,000

Pennsylvania-1.55%
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.19%		06/01/2037		1,320	1,320,000
Lebanon (County of), PA Health Facilities Authority (E.C.C. Retirement Village); Series 2000, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.20%		10/15/2025		310	310,000
Philadelphia (City of), PA; Series 2022 A, Commercial Paper Notes^(a)		0.35%		03/24/2022		1,000	1,000,000
							2,630,000

Rhode Island-2.65%
Rhode Island Health & Educational Building Corp. (Brown University); Series 2003 B, VRD RB^(b)		0.21%		09/01/2043		4,500	4,500,000

Texas-19.92%
Board of Regents of the University of Texas System; Series 2008 B, VRD RB^(b)		0.17%		08/01/2025		1,615	1,615,000
Garland (City of), TX; Series 2021, Commercial Paper Notes		0.13%		04/05/2022		5,000	5,000,000
Harris (County of), TX Hospital District; Series 2010, Ref. VRD RB (LOC - JPMorgan Chase Bank N.A.)^(b)(c)		0.21%		02/15/2042		5,700	5,700,000
Houston (City of), TX; Series 2018 E-2, GO Commercial Paper Notes		0.22%		03/16/2022		4,000	4,000,000
Houston (City of), TX (Combined Utility System); Series 2004 B-3, Ref. VRD RB (LOC - Sumitomo Mitsui Banking Corp.)^(a)(b)(c)		0.21%		05/15/2034		5,250	5,250,000
San Gabriel Health Facilities Development Corp. (YMCA of Greater Williamson County); Series 2005, VRD RB (LOC - JPMorgan Chase Bank N.A.)^(b)(c)		0.24%		04/01/2026		1,890	1,890,000
Texas (State of) Department of Housing & Community Affairs (Costa Mariposa Apartments); Series 2009, VRD RB (CEP - FHLMC)^(b)		0.26%		05/01/2042		2,375	2,375,000
Texas A&M University System Board of Regents; Series 2021 B, Commercial Paper Notes		0.14%		06/02/2022		5,000	5,000,000
University of Texas Board of Regents; Series 2018, Revenue Financing System Commercial Paper Notes		0.29%		04/06/2022		3,000	3,000,000
							33,830,000

Virginia-2.53%
Norfolk (City of), VA; Series 2007, VRD GO Bonds^(b)		0.21%		08/01/2037		4,300	4,300,000

Washington-3.25%
Washington (State of) Housing Finance Commission (Kitts Corner Apartments); Series 2014, VRD RB (LOC - FHLB of San Francisco)^(b)(c)		0.13%		09/01/2049		3,375	3,375,000
Washington (State of) Housing Finance Commission (Redmond Ridge Apartments); Series 2017, VRD RB (LOC - FHLB of San Francisco)^(b)(c)		0.13%		11/01/2047		2,145	2,145,000
							5,520,000

West Virginia-4.29%
Cabell (County of), WV (Provident Group - Marshall Properties LLC - Marshall University); Series 2010 A, VRD RB (LOC - Bank of America N.A.)^(b)(c)		0.21%		07/01/2039		845	845,000

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

25 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)


					Principal
	Interest		Maturity		Amount
	Rate		Date		(000)		Value
West Virginia-(continued)
West Virginia (State of) Hospital Finance Authority (Cabell Huntington Hospital, Inc.); Series 2008 B, Ref. VRD RB (LOC - Branch Banking & Trust Co.)^(b)(c)		0.27%		01/01/2034	$	6,445	$	6,445,000

								7,290,000


Wisconsin-1.90%
Lima (Town of), WI (Sharon S. Richardson Community Hospice, Inc.); Series 2009, VRD RB (LOC - FHLB of Chicago)^(b)(c)		0.21%		10/01/2042		3,230		3,230,000

TOTAL INVESTMENTS IN SECURITIES^(e)(f)-99.97% (Cost $169,755,000)								169,755,000

OTHER ASSETS LESS LIABILITIES-0.03%								54,772

NET ASSETS-100.00%							$	169,809,772


Investment Abbreviations:

CEP		- Credit Enhancement Provider
FHLB		- Federal Home Loan Bank
FHLMC		- Federal Home Loan Mortgage Corp.
FNMA		- Federal National Mortgage Association
GO		- General Obligation
IDR		- Industrial Development Revenue Bonds
LOC		- Letter of Credit
MFH		- Multi-Family Housing
RB		- Revenue Bonds
Ref.		- Refunding
VRD		- Variable Rate Demand

Notes to Schedule of Investments:

^(a)	The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: Canada:5.7%;Japan:5.2%;other countries less than 5% each: 5.5%.

^(b)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(c)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(d)

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 value of this security at February 28, 2022 represented 1.65% of the Fund’s Net Assets.

^(e)	Also represents cost for federal income tax purposes.

^(f)


Entities		Percentage

PNC Bank N.A.		8.3%

Federal Home Loan Banks		6.8

Federal Home Loan Mortgage Corporation		6.6

Wells Fargo Bank N.A.		5.7

JPMorgan Chase Bank, N.A.		5.1

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

26 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7			87.0%

8-30			5.3

31-60			4.7

61-90			0.0

91-180			3.0

181+			0.0

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

27 Short-Term Investments Trust

Statements of Assets and Liabilities

February 28, 2022

(Unaudited)


												Invesco Treasury			Invesco Tax-Free
	Invesco Liquid			Invesco STIC			Invesco Treasury			Invesco Government		Obligations			Cash Reserve
	Assets Portfolio			Prime Portfolio			Portfolio			& Agency Portfolio		Portfolio			Portfolio

Assets:

Investments in unaffiliated securities, at value	$	1,690,271,922		$	191,977,496		$	13,165,027,105		$	42,264,669,258	$	1,385,607,752		$	169,755,000


Repurchase agreements, at value and cost		550,898,981			84,326,230			9,643,911,550			21,680,938,904		-			-


Cash		-			-			-			-		37,752			-


Receivable for: Fund shares sold		-			-			2,845			108,705		-			-

Interest		155,860			8,158			13,433,654			29,052,274		73,642			22,965

Fund expenses absorbed		106,833			33,665			1,417,208			2,190,429		109,348			87,930


Investment for trustee deferred compensation and retirement plans		3,524,447			951,741			2,115,902			963,666		102,725			329,541


Other assets		-			132,217			447,526			588,715		792			31,227

Total assets		2,244,958,043			277,429,507			22,826,355,790			63,978,511,951		1,385,932,011			170,226,663


Liabilities:

Payable for: Investments purchased		29,986,825			13,993,951			898,693,915			2,846,428,808		168,883,059			-

Fund shares reacquired		-			-			12,000			24,638,227		-			-

Amount due custodian		-			-			1,574,127			1,508,529		-			-

Dividends		12,043			2,307			174,513			1,218,332		9,461			1,333

Accrued fees to affiliates		332,171			45,296			3,646,596			7,134,843		165,808			33,290

Accrued trustees’ and officers’ fees and benefits		5,730			3,681			29,867			69,304		4,476			3,395

Accrued operating expenses		28,399			5,900			282,157			288,795		35,540			30,140


Trustee deferred compensation and retirement plans		3,750,354			1,006,111			2,394,342			1,221,442		117,140			348,733

Total liabilities		34,115,522			15,057,246			906,807,517			2,882,508,280		169,215,484			416,891


Net assets applicable to shares outstanding	$	2,210,842,521		$	262,372,261		$	21,919,548,273		$	61,096,003,671	$	1,216,716,527		$	169,809,772


Net assets consist of:

Shares of beneficial interest	$	2,214,068,700		$	263,115,662		$	21,920,415,657		$	61,095,416,116	$	1,216,782,664		$	170,089,160


Distributable earnings (loss)		(3,226,179	)		(743,401	)		(867,384	)		587,555		(66,137	)		(279,388	)


	$	2,210,842,521		$	262,372,261		$	21,919,548,273		$	61,096,003,671	$	1,216,716,527		$	169,809,772


Net Assets:

Institutional Class	$	2,204,979,174		$	261,269,078		$	18,241,859,039		$	53,964,770,211	$	1,098,426,693		$	135,656,602


Private Investment Class	$	2,885,966		$	473,512		$	312,889,460		$	562,429,844	$	13,703,576		$	11,700,511


Personal Investment Class	$	10,246		$	92,856		$	379,824,634		$	15,716,834	$	10,077,798		$	1,333,813


Cash Management Class	$	2,385,218		$	428,281		$	476,970,117		$	956,426,056	$	78,410		$	4,202,044


Reserve Class	$	211,505		$	87,041		$	1,678,474,426		$	538,091,162	$	90,998,450		$	15,429,661


Resource Class	$	247,323		$	385		$	38,293,629		$	134,028,878	$	98,111		$	1,476,862


Corporate Class	$	23,129		$	21,108		$	279,646,266		$	1,018,276,963	$	3,333,489		$	10,279


CAVU Securities Class	$	99,960		$	-		$	511,590,702		$	3,906,263,723	$	-		$	-

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

28 Short-Term Investments Trust

Statements of Assets and Liabilities—(continued)

February 28, 2022

(Unaudited)


									Invesco Treasury		Invesco Tax-Free
	Invesco Liquid		Invesco STIC		Invesco Treasury		Invesco Government		Obligations		Cash Reserve
	Assets Portfolio		Prime Portfolio		Portfolio		& Agency Portfolio		Portfolio		Portfolio


Shares outstanding, no par value, unlimited number of shares authorized:

Institutional Class		2,205,019,784		261,262,354		18,240,410,505		53,964,110,943		1,098,435,692		135,636,048


Private Investment Class		2,886,030		473,500		312,866,402		562,417,907		13,703,762		11,698,732


Personal Investment Class		10,246		92,854		379,787,513		15,716,633		10,077,890		1,333,647


Cash Management Class		2,385,270		428,270		476,928,857		956,415,735		78,412		4,201,456


Reserve Class		211,509		87,039		1,678,353,435		538,081,580		90,998,347		15,427,388


Resource Class		247,328		385		38,290,367		134,025,688		98,112		1,476,639


Corporate Class		23,130		21,107		279,625,136		1,018,275,908		3,333,522		10,277


CAVU Securities Class		99,962		-		511,545,921		3,906,258,431		-		-


Net asset value, offering and redemption price per share for each class	$	1.0000	$	1.0000	$	1.00	$	1.00	$	1.00	$	1.00


Cost of Investments	$	2,241,779,487	$	276,300,889	$	22,808,938,655	$	63,945,608,162	$	1,385,607,752	$	169,755,000

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

29 Short-Term Investments Trust

Statements of Operations

For the six months ended February 28, 2022

(Unaudited)


									Invesco Treasury		Invesco Tax-Free
	Invesco Liquid		Invesco STIC		Invesco Treasury		Invesco Government		Obligations		Cash Reserve
	Assets Portfolio		Prime Portfolio		Portfolio		& Agency Portfolio		Portfolio		Portfolio

Investment income:

Interest	$	1,870,765	$	163,870	$	9,396,711	$	22,014,594	$	446,063	$	64,820


Expenses:

Advisory fees		1,538,049		194,005		16,592,349		27,022,435		701,350		156,141


Administrative services fees		461,582		57,036		4,949,534		11,947,185		221,111		34,579


Custodian fees		26,384		9,192		203,379		186,726		5,734		2,572


Distribution fees:
Private Investment Class		4,297		832		431,096		813,131		17,946		13,527

Personal Investment Class		27		253		868,352		29,956		18,366		3,039

Cash Management Class		1,037		196		192,510		360,118		60		1,764

Reserve Class		925		375		5,311,944		2,244,581		286,523		71,520

Resource Class		291		-		47,971		100,170		78		1,171

Corporate Class		4		3		39,942		129,084		549		2


Transfer agent fees		92,283		11,640		995,541		2,432,019		46,385		7,026


Trustees’ and officers’ fees and benefits		15,799		9,952		81,950		201,650		12,307		9,447


Registration and filing fees		53,276		41,241		472,941		393,620		69,312		51,606


Reports to shareholders		8,372		6,367		31,453		26,728		6,900		13,302


Professional services fees		27,007		21,757		80,198		137,188		24,164		21,099


Other		65,381		33,080		206,536		302,178		56,799		16,536

Total expenses		2,294,714		385,929		30,505,696		46,326,769		1,467,584		403,331


Less: Fees waived and expenses reimbursed		(547,540)		(235,281)		(22,239,477)		(31,376,941)		(1,075,990)		(346,495)

Net expenses		1,747,174		150,648		8,266,219		14,949,828		391,594		56,836


Net investment income		123,591		13,222		1,130,492		7,064,766		54,469		7,984

Realized and unrealized gain (loss) from:

Net realized gain (loss) from unaffiliated investment securities		3,959		18		337,662		26,979		(17,701)		-


Change in net unrealized appreciation (depreciation) of unaffiliated investment securities		(771,504)		3,071		-		-		-		-


Net realized and unrealized gain (loss)		(767,545)		3,089		337,662		26,979		(17,701)		-


Net increase (decrease) in net assets resulting from operations	$	(643,954)	$	16,311	$	1,468,154	$	7,091,745	$	36,768	$	7,984

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

30 Short-Term Investments Trust

Statements of Changes in Net Assets

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Liquid Assets Portfolio						Invesco STIC Prime Portfolio

	February 28, 2022			August 31, 2021			February 28, 2022			August 31, 2021
Operations:
Net investment income	$	123,591		$	1,034,618		$	13,222		$	24,474

Net realized gain		3,959			2,613			18			552

Change in net unrealized appreciation (depreciation)		(771,504	)		(496,709	)		3,071			(2,800	)

Net increase (decrease) in net assets resulting from operations		(643,954	)		540,522			16,311			22,226


Distributions to shareholders from distributable earnings:
Institutional Class		(123,275	)		(1,033,839	)		(13,153	)		(24,275	)

Private Investment Class		(146	)		(318	)		(29	)		(92	)

Personal Investment Class		(2	)		(4	)		(6	)		(31	)

Cash Management Class		(133	)		(359	)		(25	)		(52	)

Reserve Class		(12	)		(29	)		(5	)		(11	)

Resource Class		(15	)		(40	)		(2	)		(9	)

Corporate Class		(2	)		(13	)		(2	)		(4	)

CAVU Securities Class		(6	)		(16	)		-			-

Total distributions from distributable earnings		(123,591	)		(1,034,618	)		(13,222	)		(24,474	)


Share transactions-net:
Institutional Class		(150,618,800	)		(201,574,311	)		39,548,244			(99,033,118	)

Private Investment Class		(5,137	)		(648,893	)		(131,663	)		(671,036	)

Personal Investment Class		-			-			4			(302,491	)

Cash Management Class		(535,901	)		(24,434	)		(67,764	)		(7,793	)

Reserve Class		(4,019	)		(62,582	)		4			(18,402	)

Resource Class		(114,813	)		(3,337	)		-			(122,205	)

Corporate Class		1			(15,522	)		1			4

CAVU Securities Class		-			100,002			-			-

Net increase (decrease) in net assets resulting from share transactions		(151,278,669	)		(202,229,077	)		39,348,826			(100,155,041	)

Net increase (decrease) in net assets		(152,046,214	)		(202,723,173	)		39,351,915			(100,157,289	)


Net assets:
Beginning of period		2,362,888,735			2,565,611,908			223,020,346			323,177,635

End of period	$	2,210,842,521		$	2,362,888,735		$	262,372,261		$	223,020,346

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

31 Short-Term Investments Trust

Statements of Changes in Net Assets–(continued)

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Treasury Portfolio						Invesco Government & Agency Portfolio

	February 28, 2022			August 31, 2021			February 28, 2022			August 31, 2021

Operations:
Net investment income	$	1,130,492		$	2,248,785		$	7,064,766		$	9,964,680

Net realized gain		337,662			30,818			26,979			542,485

Net increase in net assets resulting from operations		1,468,154			2,279,603			7,091,745			10,507,165


Distributions to shareholders from distributable earnings:
Institutional Class		(945,945	)		(2,005,555	)		(6,302,258	)		(9,402,663	)

Private Investment Class		(14,688	)		(35,458	)		(70,237	)		(120,583	)

Personal Investment Class		(16,136	)		(28,813	)		(1,412	)		(2,025	)

Cash Management Class		(24,596	)		(42,921	)		(116,654	)		(128,425	)

Reserve Class		(62,399	)		(62,101	)		(66,860	)		(105,814	)

Resource Class		(3,065	)		(18,705	)		(16,225	)		(32,727	)

Corporate Class		(13,608	)		(41,758	)		(111,510	)		(52,287	)

CAVU Securities Class		(50,055	)		(13,474	)		(379,610	)		(120,156	)

Total distributions from distributable earnings		(1,130,492	)		(2,248,785	)		(7,064,766	)		(9,964,680	)


Share transactions-net:
Institutional Class		1,148,575,944			(2,122,806,791	)		4,500,540,880			19,204,558,855

Private Investment Class		9,041,045			(118,976,592	)		56,459,453			(76,121,055	)

Personal Investment Class		114,699,804			(16,713,545	)		6,356,607			(4,169,839	)

Cash Management Class		24,738,287			80,255,547			208,470,000			316,471,282

Reserve Class		810,639,856			286,064,751			129,590,895			7,054,623

Resource Class		(14,916,921	)		(582,467,587	)		16,126,918			(25,248,184	)

Corporate Class		13,096,491			(867,085,822	)		(63,819,670	)		1,050,827,823

CAVU Securities Class		(35,495,020	)		547,040,941			2,464,408,750			1,441,849,681

Net increase (decrease) in net assets resulting from share transactions		2,070,379,486			(2,794,689,098	)		7,318,133,833			21,915,223,186

Net increase (decrease) in net assets		2,070,717,148			(2,794,658,280	)		7,318,160,812			21,915,765,671


Net assets:
Beginning of period		19,848,831,125			22,643,489,405			53,777,842,859			31,862,077,188

End of period	$	21,919,548,273		$	19,848,831,125		$	61,096,003,671		$	53,777,842,859

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

32 Short-Term Investments Trust

Statements of Changes in Net Assets–(continued)

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Treasury Obligations Portfolio						Invesco Tax-Free Cash Reserve Portfolio

	February 28, 2022			August 31, 2021			February 28, 2022			August 31, 2021

Operations:
Net investment income	$	54,469		$	133,186		$	7,984		$	17,194

Net realized gain (loss)		(17,701	)		47,304			-			-

Net increase in net assets resulting from operations		36,768			180,490			7,984			17,194


Distributions to shareholders from distributable earnings:
Institutional Class		(49,822	)		(123,225	)		(6,227	)		(12,978	)

Private Investment Class		(735	)		(1,559	)		(554	)		(1,039	)

Personal Investment Class		(342	)		(128	)		(58	)		(195	)

Cash Management Class		(9	)		(29	)		(226	)		(490	)

Reserve Class		(3,367	)		(7,454	)		(841	)		(2,280	)

Resource Class		(6	)		(17	)		(76	)		(208	)

Corporate Class		(188	)		(774	)		(2	)		(4	)

Total distributions from distributable earnings		(54,469	)		(133,186	)		(7,984	)		(17,194	)


Share transactions-net:
Institutional Class		35,131,360			(306,942,642	)		17,389,193			(32,730,801	)

Private Investment Class		(941,007	)		220,502			2,145,705			(580,210	)

Personal Investment Class		6,265,217			3,070,903			(343,131	)		(1,906,614	)

Cash Management Class		(174,584	)		(87,640	)		(394,386	)		(893,331	)

Reserve Class		16,504,842			19,907,010			(795,898	)		(10,596,705	)

Resource Class		5			(51,953	)		70			(1,527,247	)

Corporate Class		(1,699,796	)		(5,409,097	)		-			-

Net increase (decrease) in net assets resulting from share transactions		55,086,037			(289,292,917	)		18,001,553			(48,234,908	)

Net increase (decrease) in net assets		55,068,336			(289,245,613	)		18,001,553			(48,234,908	)


Net assets:
Beginning of period		1,161,648,191			1,450,893,804			151,808,219			200,043,127

End of period	$	1,216,716,527		$	1,161,648,191		$	169,809,772		$	151,808,219

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

33 Short-Term Investments Trust

Financial Highlights

(Unaudited)

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

Resource Class


	Net asset value, beginning of period			Net investment income^(a)			Net gains (losses) on securities (both realized and unrealized)				Total from investment operations				Dividends from net investment income				Distributions from net realized gains				Total distributions				Net asset value, end of period			Total return^(b)			Net assets, end of period (000’s omitted)			Ratio of expenses to average net assets with fee waivers and/or expense reimbursements		Ratio of expenses to average net assets without fee waivers and/or expense reimbursements		Ratio of net investment income to average net assets
Invesco Liquid Assets Portfolio
Six months ended 02/28/22		$	1.0004		$	0.0001		$	(0.0004	)		$	(0.0003	)		$	(0.0001	)		$	-			$	(0.0001	)		$	1.0000		(0.03	)%		$	247		0.17%^(c)		0.42%^(c)		0.01%^(c)
Year ended 08/31/21			1.0006			0.0001			(0.0002	)			(0.0001	)			(0.0001	)			-				(0.0001	)			1.0004		(0.01	)			362		0.21		0.42		0.01
Year ended 08/31/20			1.0004			0.0106			(0.0006	)			0.0100				(0.0098	)			-				(0.0098	)			1.0006		1.01				366		0.37		0.42		1.07
Year ended 08/31/19			1.0004			0.0217			0.0000				0.0217				(0.0217	)			-				(0.0217	)			1.0004		2.19				363		0.38		0.42		2.17
Year ended 08/31/18			1.0002			0.0153			(0.0011	)			0.0142				(0.0140	)			-				(0.0140	)			1.0004		1.43				996		0.38		0.43		1.53
Year ended 08/31/17			1.00			0.0031			0.0036				0.0067				(0.0060	)			(0.0005	)			(0.0065	)			1.0002		0.64				1,327		0.38		0.46		0.31
Invesco STIC Prime Portfolio
Six months ended 02/28/22			1.0000			0.0001			0.0000				0.0001				(0.0001	)			-				(0.0001	)			1.0000		0.01				0		0.12^(c)		0.30^(c)		0.01^(c)
Year ended 08/31/21			1.0000			0.0001			(0.0000	)			0.0001				(0.0001	)			-				(0.0001	)			1.0000		0.01				0		0.13		0.46		0.01
Year ended 08/31/20			1.0001			0.0104			(0.0013	)			0.0091				(0.0092	)			-				(0.0092	)			1.0000		0.93				123		0.31		0.42		1.03
Year ended 08/31/19			1.0001			0.0210			0.0001				0.0211				(0.0211	)			-				(0.0211	)			1.0001		2.13				123		0.34		0.41		2.10
Year ended 08/31/18			1.0000			0.0139			(0.0002	)			0.0137				(0.0136	)			-				(0.0136	)			1.0001		1.38				186		0.34		0.43		1.39
Year ended 08/31/17			1.00			0.0046			0.0008				0.0054				(0.0054	)			-				(0.0054	)			1.0000		0.54				184		0.34		0.43		0.46
Invesco Treasury Portfolio
Six months ended 02/28/22			1.00			0.00			0.00				0.00				(0.00	)			-				(0.00	)			1.00		0.01				38,294		0.07^(c)		0.37^(c)		0.01^(c)
Year ended 08/31/21			1.00			0.00			0.00				0.00				(0.00	)			-				(0.00	)			1.00		0.01				53,210		0.10		0.37		0.01
Year ended 08/31/20			1.00			0.01			0.00				0.01				(0.01	)			(0.00	)			(0.01	)			1.00		0.79				635,713		0.31		0.37		0.73
Year ended 08/31/19			1.00			0.02			(0.00	)			0.02				(0.02	)			-				(0.02	)			1.00		2.04				632,598		0.34		0.37		2.02
Year ended 08/31/18			1.00			0.01			0.00				0.01				(0.01	)			-				(0.01	)			1.00		1.21				525,418		0.34		0.36		1.21
Year ended 08/31/17			1.00			0.00			0.00				0.00				(0.00	)			-				(0.00	)			1.00		0.36				476,818		0.33		0.36		0.37
Invesco Government & Agency Portfolio
Six months ended 02/28/22			1.00			0.00			0.00				0.00				(0.00	)			-				(0.00	)			1.00		0.01				134,029		0.06^(c)		0.32^(c)		0.02^(c)
Year ended 08/31/21			1.00			0.00			0.00				0.00				(0.00	)			-				(0.00	)			1.00		0.02				117,902		0.08		0.32		0.02
Year ended 08/31/20			1.00			0.01			(0.00	)			0.01				(0.01	)			(0.00	)			(0.01	)			1.00		0.81				143,148		0.29		0.31		0.71
Year ended 08/31/19			1.00			0.02			0.00				0.02				(0.02	)			-				(0.02	)			1.00		2.06				180,617		0.32		0.32		2.04
Year ended 08/31/18			1.00			0.01			0.00				0.01				(0.01	)			-				(0.01	)			1.00		1.22				232,293		0.31		0.31		1.19
Year ended 08/31/17			1.00			0.00			(0.00	)			0.00				(0.00	)			-				(0.00	)			1.00		0.40				342,143		0.31		0.31		0.42
Invesco Treasury Obligations Portfolio
Six months ended 02/28/22			1.00			0.00			(0.00	)			0.00				(0.00	)			-				(0.00	)			1.00		0.01				98		0.08^(c)		0.38^(c)		0.01^(c)
Year ended 08/31/21			1.00			0.00			0.00				0.00				(0.00	)			-				(0.00	)			1.00		0.01				98		0.10		0.37		0.01
Year ended 08/31/20			1.00			0.01			(0.00	)			0.01				(0.01	)			-				(0.01	)			1.00		0.80				150		0.33		0.36		0.69
Year ended 08/31/19			1.00			0.02			0.00				0.02				(0.02	)			-				(0.02	)			1.00		2.01				134		0.34		0.37		1.99
Year ended 08/31/18			1.00			0.01			0.00				0.01				(0.01	)			-				(0.01	)			1.00		1.19				95		0.34		0.37		1.18
Year ended 08/31/17			1.00			0.00			(0.00	)			0.00				(0.00	)			-				(0.00	)			1.00		0.32				94		0.30		0.38		0.36
Invesco Tax-Free Cash Reserve Portfolio
Six months ended 02/28/22			1.00			0.00			-				0.00				(0.00	)			-				(0.00	)			1.00		0.01				1,477		0.07^(c)		0.56^(c)		0.01^(c)
Year ended 08/31/21			1.00			0.00			-				0.00				(0.00	)			-				(0.00	)			1.00		0.01				1,477		0.07		0.56		0.01
Year ended 08/31/20			1.00			0.01			-				0.01				(0.01	)			-				(0.01	)			1.00		0.65				3,004		0.30		0.50		0.65
Year ended 08/31/19			1.00			0.01			-				0.01				(0.01	)			-				(0.01	)			1.00		1.22				1,117		0.36		0.51		1.22
Year ended 08/31/18			1.00			0.01			(0.00	)			0.01				(0.01	)			-				(0.01	)			1.00		0.85				2,499		0.36		0.54		0.85
Year ended 08/31/17			1.00			0.00			(0.00	)			0.00				(0.00	)			-				(0.00	)			1.00		0.42				5,999		0.35		0.53		0.41

^(a)	Calculated using average shares outstanding.

^(b)	Includes adjustments in accordance with accounting principles generally accepted in the United States of America and is not annualized for periods less than one year.

^(c)	Annualized.

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

34 Short-Term Investments Trust

Notes to Financial Statements

February 28, 2022

(Unaudited)

NOTE 1–Significant Accounting Policies

Invesco Liquid Assets Portfolio determines its NAV per share multiple times each day.

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

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.

B.	Securities Transactions and Investment Income - Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is

35 Short-Term Investments Trust

recorded on the accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.

D.	Distributions - It is the policy of the Funds to declare dividends from net investment income daily and pay dividends on the first business day of the following month. Each Fund generally distributes net realized capital gain (including net short-term capital gain), if any, annually.

36 Short-Term Investments Trust

There is some risk that a portion or all of the interest received from certain tax-free municipal securities could become taxable as a result of determinations by the Internal Revenue Service.

NOTE 2–Advisory Fees and Other Fees Paid to Affiliates


	First $250 million	Next $250 million	Over $500 million
Invesco Liquid Assets Portfolio	0.15%	0.15%	0.15%

Invesco STIC Prime Portfolio	0.15%	0.15%	0.15%

Invesco Treasury Portfolio	0.15%	0.15%	0.15%

Invesco Government & Agency Portfolio	0.10%	0.10%	0.10%

Invesco Treasury Obligations Portfolio	0.20%	0.15%	0.10%

Invesco Tax-Free Cash Reserve Portfolio	0.20%	0.20%	0.20%

For the six months ended February 28, 2022, the management fee incurred for each Fund was equivalent to the annual effective rate of each Fund’s average daily net assets, as shown below:


Invesco Liquid Assets Portfolio	0.15	%

Invesco STIC Prime Portfolio	0.15	%

Invesco Treasury Portfolio	0.15	%

Invesco Government & Agency Portfolio	0.10	%

Invesco Treasury Obligations Portfolio	0.14	%

Invesco Tax-Free Cash Reserve Portfolio	0.20	%

37 Short-Term Investments Trust


	Institutional Class	Private Investment Class	Personal Investment Class	Cash Management Class	Reserve Class	Resource Class	Corporate Class	CAVU Securities Class
Invesco Liquid Assets Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.38%	0.21%	0.18%
Invesco STIC Prime Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.34%	0.21%	–
Invesco Treasury Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.34%	0.21%	0.18%
Invesco Government & Agency Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.34%	0.21%	0.18%
Invesco Treasury Obligations Portfolio	0.18%	0.43%	0.73%	0.26%	1.05%	0.34%	0.21%	–
Invesco Tax-Free Cash Reserve Portfolio	0.20%	0.45%	0.75%	0.28%	1.07%	0.36%	0.23%	–

For the six months ended February 28, 2022, the Adviser waived advisory fees and/or reimbursed Fund expenses, as shown below:


	Expense Limitation
Invesco Liquid Assets Portfolio	$	442,476

Invesco STIC Prime Portfolio		151,463

Invesco Treasury Portfolio		3,703,090

Invesco Government & Agency Portfolio		-

Invesco Treasury Obligations Portfolio		216,359

Invesco Tax-Free Cash Reserve Portfolio		156,166

Voluntary fee waivers for the six months ended February 28, 2022 are shown below:


	Fund Level		Private Investment Class		Personal Investment Class		Cash Management Class		Reserve Class		Resource Class		Corporate Class

Invesco Liquid Assets Portfolio		$ 98,537		$ 4,270		$ 27		$ 1,014		$ 923		$ 290		$ 3

Invesco STIC Prime Portfolio		82,159		832		253		195		375		-		4

Invesco Treasury Portfolio		11,644,572		431,096		868,352		192,510		5,311,944		47,971		39,942

Invesco Government & Agency Portfolio		27,703,436		812,520		29,939		359,090		2,243,978		100,018		127,960

Invesco Treasury Obligations Portfolio		536,300		17,924		18,350		60		286,375		78		544

Invesco Tax-Free Cash Reserve Portfolio		99,306		13,526		3,039		1,765		71,520		1,171		2

38 Short-Term Investments Trust


	Private Investment Class	Personal Investment Class	Cash Management Class	Reserve Class	Resource Class	Corporate Class

Invesco Liquid Assets Portfolio	0.30%	0.55%	0.08%	0.87%	0.20%	0.03%

Invesco STIC Prime Portfolio	0.30%	0.55%	0.08%	0.87%	0.16%	0.03%

Invesco Treasury Portfolio	0.30%	0.55%	0.08%	0.87%	0.16%	0.03%

Invesco Government & Agency Portfolio	0.30%	0.55%	0.08%	0.87%	0.16%	0.03%

Invesco Treasury Obligations Portfolio	0.25%	0.55%	0.08%	0.87%	0.16%	0.03%

Invesco Tax-Free Cash Reserve Portfolio	0.25%	0.55%	0.08%	0.87%	0.16%	0.03%

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

NOTE 3–Additional Valuation Information


Level 1 –		Prices are determined using quoted prices in an active market for identical assets.
Level 2 –		Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.
Level 3 –		Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect each Fund’s own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

NOTE 4–Security Transactions with Affiliated Funds


	Securities Purchases		Securities Sales		Net Realized Gains

Invesco Liquid Assets Portfolio		$22,055,624		$16,400,013	$-

Invesco STIC Prime Portfolio		8,610,216		8,200,189	-

Invesco Tax-Free Cash Reserve Portfolio		91,949,282		79,264,665	-

NOTE 5–Trustees’ and Officers’ Fees and Benefits

Trustees’ and Officers’ Fees and Benefits include amounts accrued by each Fund to pay remuneration to certain Trustees and Officers of such Fund. Trustees have the option to defer compensation payable by the Funds, and Trustees’ and Officers’ Fees and Benefits also include amounts accrued by each Fund to fund such deferred compensation amounts. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested. Finally, certain current Trustees were eligible to participate in a retirement plan that provided for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Funds may have certain former Trustees who also participate in a retirement plan and receive benefits under such plan. Trustees’ and Officers’ Fees and Benefits include amounts accrued by each Fund to fund such retirement benefits. Obligations under the deferred compensation and retirement plans represent unsecured claims against the general assets of the Funds.

39 Short-Term Investments Trust

NOTE 6–Cash Balances

The Funds are permitted to temporarily overdraft or leave balances in their accounts with BNY Mellon, the custodian bank. Such balances, if any at period-end, are shown in the Statements of Assets and Liabilities under the payable caption Amount due custodian. To compensate BNY Mellon or the Funds for such activity, the Funds may either (1) pay to or receive from BNY Mellon compensation at a rate agreed upon by BNY Mellon and Invesco, not to exceed the contractually agreed upon rate; or (2) leave funds or overdraft funds as a compensating balance in the account so BNY Mellon or the Funds can be compensated for use of funds.

NOTE 7–Tax Information

The Funds had a capital loss carryforward as of August 31, 2021, as follows:


Fund	Not Subject to Expiration		Total*

Invesco Liquid Assets Portfolio		$13,010		$13,010

Invesco Treasury Obligations Portfolio		13,241		13,241

Invesco Tax-Free Cash Reserve Portfolio		19,092		19,092

*	Capital loss carryforwards are 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 cost and the net unrealized appreciation (depreciation) of investments for tax purposes are as follows:


	At February 28, 2022
	Federal Tax Cost*			Unrealized Appreciation			Unrealized (Depreciation)				Net Unrealized Appreciation (Depreciation)
Invesco Liquid Assets Portfolio		$	2,241,779,487		$	23,265		$	(631,849	)		$	(608,584	)
Invesco STIC Prime Portfolio			276,300,889			2,906			(69	)			2,837
Invesco Treasury Portfolio			22,808,970,667			-			(32,012	)			(32,012	)
Invesco Government & Agency Portfolio			63,945,609,329			-			(1,167	)			(1,167	)
Invesco Treasury Obligations Portfolio			1,385,630,403			-			(22,651	)			(22,651	)

NOTE 9–Share Information

Invesco Liquid Assets Portfolio


			Summary of Share Activity

	Six months ended February 28, 2022^(a)				Year ended August 31, 2021
	Shares		Amount		Shares		Amount

Sold:
Institutional Class		7,928,057,646	$	7,929,890,259		17,486,805,323	$	17,494,025,296

Private Investment Class		1		1		371,715		371,900

Cash Management Class		-		-		6,058		6,061

Reserve Class		7,065		7,068		79,579		79,611

Corporate Class		-		-		1,001		1,001

CAVU Securities Class^(b)		-		-		99,962		100,002

40 Short-Term Investments Trust

NOTE 9–Share Information–(continued)


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount


Issued as reinvestment of dividends:
Institutional Class		3,067		$	3,067			182,613		$	182,698

Private Investment Class		92			92			207			207

Cash Management Class		133			133			359			359

Reserve Class		11			11			28			28

Resource Class		15			15			37			37

Corporate Class		2			2			13			13


Reacquired:
Institutional Class		(8,078,548,249	)		(8,080,512,126	)		(17,688,475,913	)		(17,695,782,305	)

Private Investment Class		(5,228	)		(5,230	)		(1,020,552	)		(1,021,000	)

Cash Management Class		(535,874	)		(536,034	)		(30,840	)		(30,854	)

Reserve Class		(11,095	)		(11,098	)		(142,165	)		(142,221	)

Resource Class		(114,793	)		(114,828	)		(3,373	)		(3,374	)

Corporate Class		(1	)		(1	)		(16,529	)		(16,536	)

Net increase (decrease) in share activity		(151,147,208	)	$	(151,278,669	)		(202,142,477	)	$	(202,229,077	)

^(a)	59% of the outstanding shares of the Fund are owned by the Adviser or an affiliate of the Adviser.

^(b)	Commencement date of December 18, 2020.

41 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco STIC Prime Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		705,814,165		$	705,814,165			1,439,605,312		$	1,439,605,312

Private Investment Class		9,001			9,001			17,500			17,500

Personal Investment Class		23			23			-			-

Cash Management Class		-			-			7,472			7,472

Reserve Class		1			1			4			4

Corporate Class		-			-			1,000			1,000


Issued as reinvestment of dividends:
Institutional Class		6,536			6,536			14,063			14,063

Private Investment Class		29			29			91			91

Personal Investment Class		4			4			27			27

Cash Management Class		7			7			15			15

Reserve Class		4			4			7			7

Resource Class		-			-			7			7

Corporate Class		1			1			4			4


Reacquired:
Institutional Class		(666,272,457	)		(666,272,457	)		(1,538,652,493	)		(1,538,652,493	)

Private Investment Class		(140,693	)		(140,693	)		(688,627	)		(688,627	)

Personal Investment Class		(23	)		(23	)		(302,518	)		(302,518	)

Cash Management Class		(67,771	)		(67,771	)		(15,280	)		(15,280	)

Reserve Class		(1	)		(1	)		(18,413	)		(18,413	)

Resource Class		-			-			(122,212	)		(122,212	)

Corporate Class		-			-			(1,000	)		(1,000	)

Net increase (decrease) in share activity		39,348,826		$	39,348,826			(100,155,041	)	$	(100,155,041	)

^(a)

42 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Treasury Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		63,116,124,261		$	63,116,124,261			209,389,908,080		$	209,389,908,080

Private Investment Class		436,581,760			436,581,760			564,708,648			564,708,648

Personal Investment Class		1,082,049,227			1,082,049,227			1,460,181,973			1,460,181,973

Cash Management Class		868,464,400			868,464,400			834,202,437			834,202,437

Reserve Class		1,633,245,975			1,633,245,975			2,267,218,779			2,267,218,779

Resource Class		96,775,732			96,775,732			271,542,723			271,542,723

Corporate Class		1,534,950,883			1,534,950,883			4,259,846,179			4,259,846,179

CAVU Securities Class^(b)		6,259,349,230			6,259,349,230			1,619,862,326			1,619,862,326


Issued as reinvestment of dividends:
Institutional Class		232,641			232,641			497,496			497,496

Private Investment Class		5,404			5,404			11,961			11,961

Personal Investment Class		14,389			14,389			28,558			28,558

Cash Management Class		23,399			23,399			39,490			39,490

Reserve Class		55,622			55,622			56,643			56,643

Resource Class		3,065			3,065			4,380			4,380

Corporate Class		5,818			5,818			26,745			26,745

CAVU Securities Class		175			175			-			-


Reacquired:
Institutional Class		(61,967,780,958	)		(61,967,780,958	)		(211,513,212,367	)		(211,513,212,367	)

Private Investment Class		(427,546,119	)		(427,546,119	)		(683,697,201	)		(683,697,201	)

Personal Investment Class		(967,363,812	)		(967,363,812	)		(1,476,924,076	)		(1,476,924,076	)

Cash Management Class		(843,749,512	)		(843,749,512	)		(753,986,380	)		(753,986,380	)

Reserve Class		(822,661,741	)		(822,661,741	)		(1,981,210,671	)		(1,981,210,671	)

Resource Class		(111,695,718	)		(111,695,718	)		(854,014,690	)		(854,014,690	)

Corporate Class		(1,521,860,210	)		(1,521,860,210	)		(5,126,958,746	)		(5,126,958,746	)

CAVU Securities Class		(6,294,844,425	)		(6,294,844,425	)		(1,072,821,385	)		(1,072,821,385	)

Net increase (decrease) in share activity		2,070,379,486		$	2,070,379,486			(2,794,689,098	)	$	(2,794,689,098	)

^(a)

^(b)	Commencement date of December 18, 2020.

43 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Government & Agency Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		162,483,965,647		$	162,483,965,647			287,998,117,369		$	287,998,117,369

Private Investment Class		739,731,866			739,731,866			1,566,476,737			1,566,476,737

Personal Investment Class		16,597,262			16,597,262			8,460,874			8,460,874

Cash Management Class		502,774,048			502,774,048			1,020,500,616			1,020,500,616

Reserve Class		1,286,100,892			1,286,100,892			1,184,114,517			1,184,114,517

Resource Class		575,440,585			575,440,585			1,448,949,173			1,448,949,173

Corporate Class		4,225,553,621			4,225,553,621			2,472,495,311			2,472,495,311

CAVU Securities Class^(b)		24,758,726,005			24,758,726,005			11,182,358,336			11,182,358,336


Issued as reinvestment of dividends:
Institutional Class		1,500,984			1,500,984			2,364,199			2,364,199

Private Investment Class		42,484			42,484			77,027			77,027

Personal Investment Class		1,075			1,075			1,664			1,664

Cash Management Class		42,314			42,314			62,947			62,947

Reserve Class		62,697			62,697			96,732			96,732

Resource Class		13,444			13,444			22,306			22,306

Corporate Class		99,960			99,960			20,996			20,996

CAVU Securities Class		231,219			231,219			68,987			68,987


Reacquired:
Institutional Class		(157,984,925,751	)		(157,984,925,751	)		(268,795,922,713	)		(268,795,922,713	)

Private Investment Class		(683,314,897	)		(683,314,897	)		(1,642,674,819	)		(1,642,674,819	)

Personal Investment Class		(10,241,730	)		(10,241,730	)		(12,632,377	)		(12,632,377	)

Cash Management Class		(294,346,362	)		(294,346,362	)		(704,092,281	)		(704,092,281	)

Reserve Class		(1,156,572,694	)		(1,156,572,694	)		(1,177,156,626	)		(1,177,156,626	)

Resource Class		(559,327,111	)		(559,327,111	)		(1,474,219,663	)		(1,474,219,663	)

Corporate Class		(4,289,473,251	)		(4,289,473,251	)		(1,421,688,484	)		(1,421,688,484	)

CAVU Securities Class		(22,294,548,474	)		(22,294,548,474	)		(9,740,577,642	)		(9,740,577,642	)

Net increase in share activity		7,318,133,833		$	7,318,133,833			21,915,223,186		$	21,915,223,186

^(a)

^(b)	Commencement date of December 18, 2020.

44 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Treasury Obligations Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		775,170,129		$	775,170,129			1,758,486,047		$	1,758,486,047

Private Investment Class		714,387			714,387			8,037,650			8,037,650

Personal Investment Class		7,077,364			7,077,364			6,051,798			6,051,798

Reserve Class		114,819,967			114,819,967			332,356,357			332,356,357

Resource Class		5			5			52,034			52,034

Corporate Class		-			-			129			129


Issued as reinvestment of dividends:
Institutional Class		11,379			11,379			69,137			69,137

Private Investment Class		735			735			1,543			1,543

Personal Investment Class		280			280			102			102

Cash Management Class		8			8			27			27

Reserve Class		3,241			3,241			7,165			7,165

Resource Class		-			-			3			3

Corporate Class		188			188			774			774


Reacquired:
Institutional Class		(740,050,148	)		(740,050,148	)		(2,065,497,826	)		(2,065,497,826	)

Private Investment Class		(1,656,129	)		(1,656,129	)		(7,818,691	)		(7,818,691	)

Personal Investment Class		(812,427	)		(812,427	)		(2,980,997	)		(2,980,997	)

Cash Management Class		(174,592	)		(174,592	)		(87,667	)		(87,667	)

Reserve Class		(98,318,366	)		(98,318,366	)		(312,456,512	)		(312,456,512	)

Resource Class		-			-			(103,990	)		(103,990	)

Corporate Class		(1,699,984	)		(1,699,984	)		(5,410,000	)		(5,410,000	)

Net increase (decrease) in share activity		55,086,037		$	55,086,037			(289,292,917	)	$	(289,292,917	)

^(a)

In addition, 55% of the outstanding shares of the Fund are owned by the Adviser or an affiliate of the Adviser.

45 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Tax-Free Cash Reserve Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		91,534,335		$	91,534,335			147,021,640		$	147,021,640

Private Investment Class		4,227,638			4,227,638			2,274,008			2,274,008

Personal Investment Class		2,540,401			2,540,401			7,107,975			7,107,975

Cash Management Class		2,600,250			2,600,250			6,420,817			6,420,817

Reserve Class		21,321,081			21,321,081			28,135,345			28,135,345

Resource Class		-			-			394,392			394,392


Issued as reinvestment of dividends:
Institutional Class		3,153			3,153			7,749			7,749

Private Investment Class		437			437			832			832

Personal Investment Class		57			57			195			195

Cash Management Class		82			82			230			230

Reserve Class		836			836			2,280			2,280

Resource Class		70			70			205			205


Reacquired:
Institutional Class		(74,148,295	)		(74,148,295	)		(179,760,190	)		(179,760,190	)

Private Investment Class		(2,082,370	)		(2,082,370	)		(2,855,050	)		(2,855,050	)

Personal Investment Class		(2,883,589	)		(2,883,589	)		(9,014,784	)		(9,014,784	)

Cash Management Class		(2,994,718	)		(2,994,718	)		(7,314,378	)		(7,314,378	)

Reserve Class		(22,117,815	)		(22,117,815	)		(38,734,330	)		(38,734,330	)

Resource Class		-			-			(1,921,844	)		(1,921,844	)

Net increase (decrease) in share activity		18,001,553		$	18,001,553			(48,234,908	)	$	(48,234,908	)

^(a)

46 Short-Term Investments Trust

Calculating your ongoing Fund expenses

Example

As a shareholder in the Resource Class, you incur ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period September 1, 2021 through February 28, 2022.

Actual expenses

Hypothetical example for comparison purposes


				HYPOTHETICAL
		ACTUAL		(5% annual return before expenses)
Resource Class	Beginning Account Value (09/01/21)	Ending Account Value (02/28/22)¹	Expenses Paid During Period²	Ending Account Value (02/28/22)	Expenses Paid During Period²	Annualized Expense Ratio
Invesco Liquid Assets Portfolio	$1,000.00	$999.70	$0.84	$1,023.95	$0.85	0.17%
Invesco STIC Prime Portfolio	1,000.00	1,000.10	0.60	1,024.20	0.60	0.12
Invesco Treasury Portfolio	1,000.00	1,000.10	0.35	1,024.45	0.35	0.07
Invesco Government & Agency Portfolio	1,000.00	1,000.10	0.30	1,024.50	0.30	0.06
Invesco Treasury Obligations Portfolio	1,000.00	1,000.10	0.40	1,024.40	0.40	0.08
Invesco Tax-Free Cash Reserve Portfolio	1,000.00	1,000.10	0.35	1,024.45	0.35	0.07

²	Expenses are equal to each Fund’s annualized expense ratio as indicated above multiplied by the average account value over the period, multiplied by 181/365 to reflect the most recent fiscal half year.

47 Short-Term Investments Trust

Invesco mailing information

Send general correspondence to Invesco Investment Services, Inc., P.O. Box 219078, Kansas City, MO 64121-9078.

Important notice regarding delivery of security holder documents

Fund holdings and proxy voting information

LOGO


SEC file numbers: 811-02729 and 002-58287		Invesco Distributors, Inc.		CM-STIT-SAR-4

LOGO


Semiannual Report to Shareholders		February 28, 2022

Private Investment Class

Short-Term Investments Trust (STIT)

Invesco Liquid Assets Portfolio

Invesco STIC Prime Portfolio

Invesco Treasury Portfolio

Invesco Government & Agency Portfolio

Invesco Treasury Obligations Portfolio

Invesco Tax-Free Cash Reserve Portfolio


2		Fund Data
3		Schedules of Investments
28		Financial Statements
34		Financial Highlights
35		Notes to Financial Statements
47		Fund Expenses

Unless otherwise stated, information presented in this report is as of February 28, 2022, and is based on total net assets. Unless otherwise stated, all data provided by Invesco.

NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE

Fund Data


Private Investment Class data as of 2/28/22
FUND	WEIGHTED		WEIGHTED	TOTAL
	AVERAGE		AVERAGE	NET
	MATURITY		LIFE	ASSETS

	Range	At	At
	During	Reporting	Reporting
	Reporting	Period	Period
	Period	End	End
Invesco Liquid Assets¹	23 - 52 days	23 days	52 days	$2.9	million
Invesco STIC Prime¹	3 - 13 days	6 days	7 days	473.5	thousand
Invesco Treasury²	45 - 57 days	51 days	103 days	312.9	million
Invesco Government & Agency²	32 - 53 days	47 days	100 days	562.4	million
Invesco Treasury Obligations²	31 - 55 days	38 days	83 days	13.7	million
Invesco Tax-Free Cash Reserve³	9 - 15 days	11 days	11 days	11.7	million

Weighted average maturity (WAM) is an average of the maturities of all securities held in the portfolio, weighted by each security’s percentage of net assets. The days to maturity for WAM is the lower of the stated maturity date or next interest rate reset date. WAM reflects how a portfolio would react to interest rate changes. Weighted average life (WAL) is an average of all the maturities of all securities held in the portfolio, weighted by each security’s percentage of net assets. The days to maturity for WAL is the lower of the stated maturity date or next demand feature date. WAL reflects how a portfolio would react to deteriorating credit (widening spreads) or tightening liquidity conditions.

2 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio


						Principal
	Interest			Maturity		Amount
	Rate			Date		(000)		Value
Commercial Paper-36.48%^(a)

Asset-Backed Securities - Fully Supported-2.71%
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.17	%		04/13/2022	$	10,000	$ 9,996,724
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.25	%		05/06/2022		50,000	49,960,732
								59,957,456

Asset-Backed Securities - Fully Supported Bank-5.88%
Anglesea Funding LLC (Multi - CEP’s)^(b)(c)		0.13	%		03/03/2022		10,000	9,999,921
Anglesea Funding PLC (Multi - CEP’s) (OBFR + 0.10%)^(b)(c)(d)		0.17	%		05/20/2022		25,000	25,003,750
Bedford Row Funding Corp. (CEP - Royal Bank of Canada) (1 mo. FEDL + 0.12%)^(b)(c)(d)		0.20	%		09/01/2022		20,000	19,998,483
Ebury Finance LLC (Multi - CEP’s), (SOFR + 0.15%)^(b)(c)(d)		0.20	%		05/23/2022		50,000	50,000,583
Versailles Commercial Paper LLC (CEP - Natixis S.A.) (SOFR + 0.16%)^(b)(c)(d)		0.21	%		08/02/2022		25,000	25,000,098
								130,002,835

Diversified Banks-21.08%
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(b)(c)(d)		0.25	%		05/16/2022		30,000	30,000,937
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(b)(c)(d)		0.25	%		05/20/2022		25,000	25,000,822
ANZ New Zealand (Int’l) Ltd.^(b)(c)		0.17	%		04/04/2022		23,700	23,695,783
ANZ New Zealand (Int’l) Ltd.^(b)(c)		0.34	%		10/03/2022		30,000	29,831,463
Barclays Bank PLC (SOFR + 0.16%)^(b)(c)(d)		0.21	%		07/01/2022		60,000	60,003,023
Industrial & Commercial Bank of China Ltd.^(b)(c)		0.15	%		03/15/2022		50,000	49,997,437
Kookmin Bank^(b)(c)		0.20	%		03/17/2022		20,000	19,999,226
Mitsubishi UFJ Trust & Banking Corp.^(b)(c)		0.26	%		04/13/2022		15,000	14,995,637
National Australia Bank Ltd. (SOFR + 0.17%)^(b)(c)(d)		0.22	%		07/25/2022		50,000	50,003,019
NRW Bank^(b)(c)		0.00	%		04/01/2022		30,000	29,986,667
Royal Bank of Canada^(b)(c)		0.20	%		06/16/2022		15,000	14,974,125
Svenska Handelsbanken AB^(b)(c)		0.34	%		11/03/2022		22,850	22,690,700
Toronto-Dominion Bank (The)^(b)(c)		0.21	%		06/22/2022		25,000	24,952,262
Toronto-Dominion Bank (The) (1 mo. FEDL + 0.10%)^(b)(c)(d)		0.18	%		07/08/2022		10,000	9,999,109
Toronto-Dominion Bank (The) (1 mo. FEDL + 0.10%)^(b)(c)(d)		0.18	%		09/06/2022		10,000	9,997,669
United Overseas Bank Ltd.^(b)(c)		0.25	%		06/09/2022		50,000	49,922,146
								466,050,025

Diversified Capital Markets-2.71%
UBS AG^(b)(c)		0.25	%		08/18/2022		30,000	29,895,263
UBS AG (SOFR + 0.17%)^(b)(c)(d)		0.22	%		09/21/2022		30,000	29,987,712
								59,882,975

Investment Banking & Brokerage-1.35%
Goldman Sachs International^(b)		0.45	%		11/15/2022		30,000	29,768,383

Regional Banks-2.30%
ASB Finance Ltd.^(b)(c)		0.25	%		03/18/2022		20,920	20,919,216
ASB Finance Ltd.^(b)(c)		0.21	%		07/08/2022		30,000	29,931,208
								50,850,424

Specialized Finance-0.45%
Great Bear Funding LLC (OBFR + 0.15%)^(c)(d)		0.22	%		07/01/2022		10,000	10,001,500
Total Commercial Paper (Cost $807,086,551)								806,513,598

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

3 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


						Principal
	Interest			Maturity		Amount
	Rate			Date		(000)		Value

Certificates of Deposit-34.73%
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(c)(d)		0.25	%		05/11/2022	$	10,000	$ 10,001,239
ANZ New Zealand (Int’l) Ltd.^(c)		0.07	%		03/01/2022		55,000	55,000,000
Bank of Montreal^(c)		0.21	%		06/24/2022		10,000	9,987,430
Bank of Nova Scotia (The) (SOFR + 0.11%)^(c)(d)		0.16	%		04/20/2022		50,000	50,004,956
Canadian Imperial Bank of Commerce^(c)		0.07	%		03/01/2022		38,000	38,000,000
Canadian Imperial Bank of Commerce (1 mo. FEDL + 0.10%)^(c)(d)		0.18	%		06/08/2022		50,000	49,997,973
Cooperatieve Rabobank U.A.^(c)		0.07	%		03/01/2022		105,000	105,000,000
DZ Bank AG Deutsche Zentral-Genossenschaftsbank^(c)		0.06	%		03/01/2022		95,000	95,000,000
Goldman Sachs Bank USA (SOFR + 0.21%)^(d)		0.26	%		09/16/2022		30,000	29,999,999
Nordea Bank Abp^(c)		0.06	%		03/01/2022		95,000	95,000,000
Skandinaviska Enskilda Banken AB^(c)		0.06	%		03/01/2022		95,000	95,000,000
Svenska Handelsbanken AB^(c)		0.06	%		03/01/2022		75,000	75,000,000
Westpac Banking Corp. (SOFR + 0.13%)^(c)(d)		0.18	%		07/15/2022		55,000	54,994,856
Westpac Banking Corp.^(c)		0.44	%		11/23/2022		5,000	4,976,872
Total Certificates of Deposit (Cost $767,998,956)								767,963,325

Variable Rate Demand Notes-5.24%^(e)
Credit Enhanced-5.24%
Capital Area Housing Finance Corp. (Cypress Creek at River Apartments); Series 2006, VRD MFH RB (LOC - Citibank N.A.)^(f)(g)		0.23	%		10/01/2039		2,400	2,400,000
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(g)		0.19	%		06/01/2037		3,055	3,055,000
Jets Stadium Development LLC; Series 2014 A-4B, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)^(b)(c)(g)		0.26	%		04/01/2047		9,200	9,199,999
Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank N.A.)^(g)		0.22	%		05/01/2037		2,500	2,500,000
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(g)		0.19	%		11/15/2046		11,180	11,180,000
Sarasota (County of), FL Public Hospital District (Sarasota Memorial Hospital); Series 2008 B, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(g)		0.20	%		07/01/2037		5,420	5,420,000
University of Texas System Board of Regents; Subseries 2016 G-2, VRD RB		0.16	%		08/01/2045		82,040	82,040,000
Total Variable Rate Demand Notes (Cost $115,794,999)								115,794,999
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-76.45% (Cost $1,690,880,506)								1,690,271,922

						Repurchase
						Amount
Repurchase Agreements-24.92%^(h)

BMO Capital Markets Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $100,003,111 (collateralized by U.S government sponsored agency obligations, domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $103,576,455; 0.00% - 8.88%; 04/25/2022 - 06/20/2071)^(c)(i)		0.16	%		03/01/2022		27,000,840	27,000,000
BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $150,004,958 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $157,182,535; 0.00% - 8.20%; 02/13/2023 - 12/16/2062)^(c)(i)		0.17	%		03/02/2022		15,000,496	15,000,000

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

4 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


	Interest			Maturity		Repurchase
	Rate			Date		Amount		Value
BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $25,001,069 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $26,546,588; 0.00% - 10.00%; 12/07/2021 - 12/20/2065)^(c)(i)		0.22	%		03/02/2022	$	10,000,428	$ 10,000,000
Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic and foreign non-agency asset-backed securities and domestic non-agency mortgage-backed securities valued at $203,598,357; 1.17% - 7.06%; 10/25/2026 -02/15/2039)^(j)		0.56	%		03/01/2022		8,003,451	8,000,000
Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic non-agency asset-backed securities, domestic corporate obligations and domestic non-agency mortgage-backed securities valued at $55,045,612; 1.87% -7.38%; 03/25/2026 - 06/01/2044)^(j)		0.55	%		03/01/2022		35,014,963	35,000,000
Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic non-agency mortgage-backed securities valued at $55,143,137; 1.94% -5.80%; 01/25/2030 - 12/15/2038)^(j)		0.54	%		03/01/2022		10,004,197	10,000,000
Credit Agricole Corporate & Investment Bank, joint term agreement dated 02/22/2022, aggregate maturing value of $240,006,067 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations, domestic non-agency mortgage-backed securities and U.S. Treasury obligations valued at $246,893,829; 0.00% - 7.75%; 04/07/2022 - 05/01/2079)^(c)(i)		0.13	%		03/01/2022		20,000,506	20,000,000
Credit Suisse Securities (USA) LLC, joint term agreement dated 02/23/2022, aggregate maturing value of $90,003,500 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities and domestic and foreign corporate obligations valued at $98,998,378; 0.00% - 15.98%; 04/22/2022 - 09/27/2060)^(c)(i)		0.20	%		03/02/2022		25,000,972	25,000,000
Credit Suisse Securities (USA) LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $10,000,095 (collateralized by domestic non-agency mortgage-backed securities valued at $10,500,001; 1.38% - 4.74%; 12/15/2046 - 01/20/2051)^(c)(k)		0.34	%		03/01/2022		2,000,019	2,000,000
J.P. Morgan Securities LLC, joint open agreement dated 04/28/2020 (collateralized by domestic and corporate obligations valued at $109,999,955; 0.00% - 10.88%; 04/30/2022 - 11/03/2037)^(j)		0.37	%		03/01/2022		65,018,706	65,000,000
J.P. Morgan Securities LLC, joint open agreement dated 09/18/2020 (collateralized by domestic and foreign equity securities valued at $15,753,313; 0.00% - 8.50%; 10/31/2026 - 01/31/2028)^(j)		0.27	%		03/01/2022		7,001,470	7,000,000
J.P. Morgan Securities LLC, open agreement dated 11/01/2021 (collateralized by a domestic agency mortgage-backed security and domestic non-agency mortgage-backed securities valued at $15,750,000; 0.22% - 3.36%; 06/15/2031 - 04/27/2065)^(j)		0.43	%		03/01/2022		15,005,004	15,000,000
Mitsubishi UFJ Trust & Banking Corp., joint open agreement dated 02/23/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations, domestic and foreign commercial paper and a U.S. Treasury obligation valued at $51,697,846; 0.00% - 8.50%; 03/01/2022 - 01/15/2082)^(c)(j)		0.20	%		03/01/2022		25,003,889	25,000,000
Mizuho Securities (USA) LLC, joint open agreement dated 12/30/2021 (collateralized by domestic and foreign equity securities valued at $52,500,215; 0.00%)^(c)(j)		0.22	%		03/01/2022		28,000,171	28,000,000
RBC Capital Markets LLC, joint term agreement dated 02/23/2022, aggregate maturing value of $155,005,726 (collateralized by domestic and foreign corporate obligations valued at $170,310,340; 0.00% - 13.00%; 03/15/2022 - 05/15/2097)^(c)(i)		0.19	%		03/02/2022		20,000,739	20,000,000
Societe Generale, joint open agreement dated 08/06/2019 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and domestic non-agency mortgage-backed securities valued at $78,729,067; 0.34% -13.00%; 03/15/2022 - 12/15/2072)^(c)(j)		0.25	%		03/01/2022		25,000,174	25,000,000
Societe Generale, joint open agreement dated 08/20/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations and a domestic non-agency mortgage-backed security valued at $91,931,202; 0.98% -10.13%; 01/05/2023 - 03/11/2061)^(c)(j)		0.18	%		03/01/2022		65,000,325	65,000,000

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

5 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


	Interest			Maturity		Repurchase
	Rate			Date		Amount		Value

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)		0.06	%		03/01/2022	$	148,899,229	$	148,898,981

Total Repurchase Agreements (Cost $550,898,981)									550,898,981

TOTAL INVESTMENTS IN SECURITIES^(l)(m)-101.37% (Cost $2,241,779,487)									2,241,170,903

OTHER ASSETS LESS LIABILITIES-(1.37)%									(30,328,382	)

NET ASSETS-100.00%								$	2,210,842,521

Investment Abbreviations:


CEP		-Credit Enhancement Provider
FEDL		-Federal Funds Effective Rate
LOC		-Letter of Credit
MFH		-Multi-Family Housing
OBFR		-Overnight Bank Funding Rate
RB		-Revenue Bonds
Ref.		-Refunding
SOFR		-Secured Overnight Financing Rate
VRD		-Variable Rate Demand

Notes to Schedule of Investments:

^(a)	Securities may be traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.

^(b)

^(c)

^(d)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(e)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(f)	Security subject to the alternative minimum tax.

^(g)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(h)	Principal amount equals value at period end. See Note 1I.

⁽ⁱ⁾	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(j)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(k)	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(l)	Also represents cost for federal income tax purposes.

^(m)	Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer’s obligations but may be called upon to satisfy the issuer’s obligations. No concentration of any single entity was greater than 5% each.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7	51.3	%
8-30	4.1
31-60	10.4
61-90	5.2
91-180	20.9
181+	8.1

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

6 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco STIC Prime Portfolio


						Principal
	Interest			Maturity		Amount
	Rate			Date		(000)		Value

Commercial Paper-31.79%^(a)
Asset-Backed Securities - Fully Supported-4.95%
Ionic Capital II Trust (CEP - Citibank N.A.)		0.16	%		03/04/2022	$	8,000	$ 7,999,916
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.29	%		04/05/2022		5,000	4,998,955
								12,998,871

Asset-Backed Securities - Fully Supported Bank-13.50%
Concord Minutemen Capital Co. LLC^(b)(c)		0.18	%		03/17/2022		5,000	4,999,745
Institutional Secured Funding LLC (Multi - CEP’s)^(b)(c)		0.18	%		03/04/2022		7,000	6,999,872
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)^(b)(c)		0.17	%		03/16/2022		7,430	7,429,515
Nieuw Amsterdam Receivables Corp. (CEP - Cooperatieve Rabobank U.A.)^(b)(c)		0.17	%		03/17/2022		8,000	7,999,490
Sheffield Receivables Co. LLC (CEP - Barclays Bank PLC)^(b)(c)		0.15	%		03/11/2022		8,000	7,999,755
								35,428,377

Diversified Banks-13.34%
Agricultural Bank of China Ltd.^(b)(c)		0.18	%		03/07/2022		8,000	7,999,759
BNG Bank N.V.^(b)(c)		0.10	%		03/01/2022		5,000	4,999,991
Nederlandse Waterschapsbank N.V.^(b)(c)		0.51	%		03/31/2022		7,000	6,999,036
NRW Bank^(b)(c)		0.51	%		04/01/2022		7,000	6,996,889
Sumitomo Mitsui Trust Bank Ltd.^(b)(c)		0.17	%		03/16/2022		8,000	7,999,573
								34,995,248
Total Commercial Paper (Cost $83,419,659)								83,422,496

Certificates of Deposit-25.92%
ANZ New Zealand (Int’l) Ltd.^(c)		0.07	%		03/01/2022		12,000	12,000,000
Canadian Imperial Bank of Commerce^(c)		0.07	%		03/01/2022		12,000	12,000,000
Cooperatieve Rabobank U.A.^(c)		0.07	%		03/01/2022		4,000	4,000,000
DZ Bank AG Deutsche Zentral-Genossenschaftsbank^(c)		0.06	%		03/01/2022		10,000	10,000,000
Nordea Bank Abp^(c)		0.06	%		03/01/2022		10,000	10,000,000
Skandinaviska Enskilda Banken AB^(c)		0.06	%		03/01/2022		10,000	10,000,000
Svenska Handelsbanken AB^(c)		0.06	%		03/01/2022		10,000	10,000,000
Total Certificates of Deposit (Cost $68,000,000)								68,000,000

Variable Rate Demand Notes-15.46%^(d)
Credit Enhanced-15.46%
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(e)		0.19	%		06/01/2037		5,610	5,610,000
Illinois (State of) Housing Development Authority (Danbury Court Apartments-Phase II); Series 2004 B, VRD MFH RB (LOC - FHLB of Indianapolis)^(e)(f)		0.28	%		12/01/2039		730	730,000
Jets Stadium Development LLC; Series 2007 A-4, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)^(b)(e)		0.26	%		04/01/2047		7,800	7,800,000
Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank N.A.)^(e)		0.22	%		05/01/2037		3,050	3,050,000
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(e)		0.19	%		11/15/2046		3,000	3,000,000
Mobile Downtown Redevelopment Authority (The) (Austal USA LLC); Series 2011 B, Ref. VRD RB^(b)		0.22	%		05/01/2041		6,000	6,000,000
Ohio (State of) Housing Finance Agency (Wingate at Belle Meadows); Series 2004, VRD RB^(f)		0.15	%		10/01/2036		8,205	8,205,000
Portland (Port of), OR (Portland International Airport); Subseries 2008 18-A, Ref. VRD RB (LOC - Industrial & Commercial Bank of China Ltd.)^(c)(e)(f)		0.27	%		07/01/2026		570	570,000
Southeast Texas Housing Finance Corp. (Mansions at Moses Lake Apartments); Series 2008, VRD RB (CEP - FHLMC)^(f)		0.26	%		06/01/2041		890	890,000

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

7 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco STIC Prime Portfolio–(continued)


						Principal
	Interest			Maturity		Amount
	Rate			Date		(000)		Value

Credit Enhanced-(continued)
Ziegler Realty LLC; Series 2007, VRD Notes (LOC - Wells Fargo Bank N.A.)^(b)(e)		0.18	%		01/01/2033	$	4,700	$	4,700,000

Total Variable Rate Demand Notes (Cost $40,555,000)									40,555,000

TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-73.17% (Cost $191,974,659)									191,977,496


						Repurchase
						Amount
Repurchase Agreements-32.14%^(g)
BMO Capital Markets Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $100,003,111 (collateralized by U.S government sponsored agency obligations, domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $103,576,455; 0.00% - 8.88%; 04/25/2022 - 06/20/2071)^(c)(h)		0.16	%		03/01/2022		3,000,093		3,000,000

BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $150,004,958 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $157,182,535; 0.00% -8.20%; 02/13/2023 - 12/16/2062)^(c)(h)		0.17	%		03/02/2022		3,000,099		3,000,000

BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $25,001,069 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $26,546,588; 0.00% - 10.00%; 12/07/2021 - 12/20/2065)^(c)(h)		0.22	%		03/02/2022		3,000,128		3,000,000

BofA Securities, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $745,001,035 (collateralized by domestic agency mortgage-backed securities valued at $759,900,001; 0.46% - 7.50%; 09/25/2022 - 01/01/2052)		0.05	%		03/01/2022		12,000,017		12,000,000

Citigroup Global Markets, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $400,000,556 (collateralized by U.S. Treasury obligations valued at $408,000,001; 0.00% - 0.13%; 01/15/2023 - 02/15/2051)		0.05	%		03/01/2022		12,000,017		12,000,000

Credit Suisse Securities (USA) LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $10,000,095 (collateralized by domestic non-agency mortgage-backed securities valued at $10,500,001; 1.38% - 4.74%; 12/15/2046 - 01/20/2051)^(c)(i)		0.34	%		03/01/2022		8,000,076		8,000,000

J.P. Morgan Securities LLC, joint open agreement dated 09/18/2020 (collateralized by domestic and foreign equity securities valued at $15,753,313; 0.00% - 8.50%; 10/31/2026 -01/31/2028)^(j)		0.27	%		03/01/2022		8,001,680		8,000,000

Mitsubishi UFJ Trust & Banking Corp., joint open agreement dated 02/23/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations, domestic and foreign commercial paper and a U.S. Treasury obligation valued at $51,697,846; 0.00% - 8.50%; 03/01/2022 - 01/15/2082)^(c)(j)		0.20	%		03/01/2022		7,001,089		7,000,000

Mizuho Securities (USA) LLC, joint open agreement dated 12/30/2021 (collateralized by domestic and foreign equity securities valued at $52,500,215; 0.00%)^(c)(j)		0.22	%		03/01/2022		7,000,043		7,000,000

Societe Generale, joint open agreement dated 08/06/2019 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and domestic non-agency mortgage-backed securities valued at $78,729,067; 0.34% - 13.00%; 03/15/2022 - 12/15/2072)^(c)(j)		0.25	%		03/01/2022		5,000,035		5,000,000

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)		0.06	%		03/01/2022		16,326,257		16,326,230

Total Repurchase Agreements (Cost $84,326,230)									84,326,230

TOTAL INVESTMENTS IN SECURITIES^(k)(l)-105.31% (Cost $276,300,889)									276,303,726

OTHER ASSETS LESS LIABILITIES-(5.31)%									(13,931,465	)

NET ASSETS-100.00%								$	262,372,261

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

8 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco STIC Prime Portfolio–(continued)


Investment Abbreviations:
CEP		-Credit Enhancement Provider
FHLB		-Federal Home Loan Bank
FHLMC		-Federal Home Loan Mortgage Corp.
LOC		-Letter of Credit
MFH		-Multi-Family Housing
RB		-Revenue Bonds
Ref.		-Refunding
VRD		-Variable Rate Demand

Notes to Schedule of Investments:

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

^(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 February 28, 2022 was $93,922,580, which represented 35.80% of the Fund’s Net Assets.

^(c)

The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: Netherlands: 11.8; Japan: 8.4%; Canada: 8.0%; Sweden: 7.6%; France: 6.6%; Germany: 6.5%; Switzerland: 5.0%; other countries less than 5% each: 14.7%.

^(d)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(e)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(f)	Security subject to the alternative minimum tax.

^(g)	Principal amount equals value at period end. See Note 1I.

^(h)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

⁽ⁱ⁾	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(j)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(k)	Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer’s obligation but may be called upon to satisfy issuer’s obligations. No concentration of any single entity was greater than 5% each.

^(l)	Also represents cost for federal income tax purposes.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7			75.8%
8-30			13.9
31-60			10.3
61-90			0.0
91-180			0.0
181+			0.0

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

9 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio


				Principal
	Interest	Maturity		Amount
	Rate	Date		(000)		Value
U.S. Treasury Securities-60.06%
U.S. Treasury Bills-31.54%^(a)
U.S. Treasury Bills	0.11%		04/26/2022	$	721,000	$	720,876,629
U.S. Treasury Bills	0.29%-0.31%		05/12/2022		650,000		649,612,998
U.S. Treasury Bills	0.28%		05/24/2022		225,000		224,855,625
U.S. Treasury Bills	0.38%		05/26/2022		450,000		449,591,499
U.S. Treasury Bills	0.28%-0.29%		05/31/2022		1,200,000		1,199,141,564
U.S. Treasury Bills	0.09%-0.36%		06/02/2022		600,000		599,589,500
U.S. Treasury Bills	0.34%		06/07/2022		527,000		526,512,232
U.S. Treasury Bills	0.07%-0.26%		06/16/2022		535,000		534,676,771
U.S. Treasury Bills	0.55%		06/21/2022		460,000		459,212,889
U.S. Treasury Bills	0.57%		06/28/2022		500,000		499,057,915
U.S. Treasury Bills	0.08%		07/14/2022		150,000		149,957,812
U.S. Treasury Bills	0.11%		08/11/2022		200,000		199,900,842
U.S. Treasury Bills	0.08%-0.12%		09/08/2022		500,000		499,727,295
U.S. Treasury Bills	0.09%		10/06/2022		200,000		199,890,500
							6,912,604,071

U.S. Treasury Floating Rate Notes-15.08%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)	0.47%		04/30/2022		744,000		744,073,587
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)	0.42%		07/31/2022		350,000		350,001,528
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)	0.42%		10/31/2022		355,000		354,993,431
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)	0.41%		01/31/2023		100,000		100,000,000
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)	0.39%		04/30/2023		250,500		250,509,461
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)	0.39%		07/31/2023		627,000		627,019,367
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)	0.40%		10/31/2023		880,000		879,991,372
							3,306,588,746

U.S. Treasury Notes-13.44%
U.S. Treasury Notes	1.75%		03/31/2022		300,000		300,412,035
U.S. Treasury Notes	1.88%		03/31/2022		100,000		100,145,660
U.S. Treasury Notes	1.75%		04/30/2022		200,000		200,549,446
U.S. Treasury Notes	1.75%		06/15/2022		200,000		200,963,044
U.S. Treasury Notes	0.13%		06/30/2022		200,000		200,023,309
U.S. Treasury Notes	1.75%		06/30/2022		100,000		100,547,880
U.S. Treasury Notes	2.13%		06/30/2022		200,000		201,349,336
U.S. Treasury Notes	1.75%		07/15/2022		200,000		201,230,784
U.S. Treasury Notes	0.13%		07/31/2022		200,000		200,033,666
U.S. Treasury Notes	1.88%		07/31/2022		250,000		251,856,731
U.S. Treasury Notes	1.63%		08/15/2022		200,000		201,417,294
U.S. Treasury Notes	1.63%		08/31/2022		150,000		151,137,915
U.S. Treasury Notes	1.50%		09/15/2022		150,000		151,151,255

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

10 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)


						Principal
	Interest			Maturity		Amount
	Rate			Date		(000)		Value
U.S. Treasury Notes-(continued)
U.S. Treasury Notes		1.38	%		10/15/2022	$	200,000	$ 201,613,975
U.S. Treasury Notes		1.88	%		10/31/2022		180,000	182,134,400
U.S. Treasury Notes		2.00	%		10/31/2022		100,000	101,267,558
								2,945,834,288
Total U.S. Treasury Securities (Cost $13,165,027,105)								13,165,027,105
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-60.06% (Cost $13,165,027,105)								13,165,027,105

						Repurchase
						Amount
Repurchase Agreements-44.00%^(c)
Bank of Nova Scotia, agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by U.S. Treasury obligations valued at $510,000,014; 0.13% - 2.75%; 09/30/2022 - 08/15/2029)		0.05	%		03/01/2022		500,000,694	500,000,000
BofA Securities, Inc., agreement dated 02/28/2022, maturing value of $600,000,833 (collateralized by U.S. Treasury obligations valued at $612,000,010; 1.13% - 7.63%; 11/15/2024 - 05/15/2051)		0.05	%		03/01/2022		600,000,833	600,000,000
CIBC World Markets Corp., joint term agreement dated 02/07/2022, aggregate maturing value of $350,020,319 (collateralized by U.S. Treasury obligations valued at $357,000,019; 0.00% - 4.50%; 07/14/2022 - 02/15/2051)^(d)		0.06	%		03/17/2022		150,008,708	150,000,000
Citigroup Global Markets, Inc., joint term agreement dated 02/22/2022, aggregate maturing value of $300,003,208 (collateralized by U.S. Treasury obligations valued at $306,000,095; 1.25% - 2.25%; 11/15/2022 -04/30/2028)^(d)		0.06	%		03/01/2022		110,001,176	110,000,000
Credit Agricole Corporate & Investment Bank, joint agreement dated 02/28/2022, aggregate maturing value of $1,250,001,736 (collateralized by U.S. Treasury obligations valued at $1,275,000,039; 0.75% - 2.75%; 05/31/2023 - 09/30/2028)		0.05	%		03/01/2022		950,001,319	950,000,000
Credit Agricole Corporate & Investment Bank, joint open agreement dated 12/01/2021 (collateralized by U.S. Treasury obligations valued at $2,032,860,462; 0.13% - 3.13%; 04/15/2024 - 11/15/2050)^(e)		0.05	%		03/01/2022		450,017,375	450,000,000
DNB Bank ASA, agreement dated 02/28/2022, maturing value of $350,000,486 (collateralized by U.S. Treasury obligations valued at $361,046,466; 0.13% -1.63%; 07/15/2027 - 07/15/2031)		0.05	%		03/01/2022		350,000,486	350,000,000
Federal Reserve Bank of New York, joint agreement dated 02/28/2022, aggregate maturing value of $800,001,111 (collateralized by U.S. Treasury obligations valued at $800,001,169; 0.13%; 11/30/2022)		0.05	%		03/01/2022		200,000,278	200,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), agreement dated 02/28/2022, maturing value of $1,500,002,083 (collateralized by U.S. Treasury obligations valued at $1,530,000,063; 0.13% - 2.88%; 05/15/2022 - 11/15/2046)		0.05	%		03/01/2022		1,500,002,083	1,500,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), joint agreement dated 02/28/2022, aggregate maturing value of $612,000,085 (collateralized by U.S. Treasury obligations valued at $624,240,130; 0.00%; 08/11/2022)		0.01	%		03/01/2022		200,000,028	200,000,000
Goldman Sachs & Co., agreement dated 02/28/2022, maturing value of $250,000,347 (collateralized by a U.S. Treasury obligation valued at $255,000,014; 1.75%; 11/15/2029)		0.05	%		03/01/2022		250,000,347	250,000,000
ING Financial Markets, LLC, agreement dated 02/28/2022, maturing value of $100,000,139 (collateralized by U.S. Treasury obligations valued at $102,000,056; 0.00% - 1.75%; 05/19/2022 - 02/15/2045)		0.05	%		03/01/2022		100,000,139	100,000,000
J.P. Morgan Securities LLC, joint open agreement dated 03/27/2020 (collateralized by U.S. Treasury obligations valued at $867,001,467; 0.00% -2.38%; 03/03/2022 - 05/15/2050)^(e)		0.05	%		03/01/2022		630,024,325	630,000,000

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

11 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)


	Interest			Maturity		Repurchase
	Rate			Date		Amount		Value

Metropolitan Life Insurance Co., joint term agreement dated 02/23/2022, aggregate maturing value of $350,014,295 (collateralized by U.S. Treasury obligations valued at $358,935,903; 0.00%; 08/15/2027 - 11/15/2045)^(d)		0.07	%		03/02/2022	$	100,004,324	$	100,002,963

Mitsubishi UFJ Trust & Banking Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $768,135,455 (collateralized by U.S. Treasury obligations valued at $788,525,747; 1.13%; 02/28/2025 - 02/28/2027)^(d)		0.07	%		03/02/2022		266,003,621		266,000,000

Mitsubishi UFJ Trust & Banking Corp., term agreement dated 02/23/2022, maturing value of $100,001,167 (collateralized by U.S. Treasury obligations valued at $102,001,081; 0.63% - 1.25%; 08/15/2030 - 08/15/2031)^(d)		0.06	%		03/02/2022		100,001,167		100,000,000

Prudential Insurance Co. of America, agreement dated 02/28/2022, maturing value of $256,312,927 (collateralized by U.S. Treasury obligations valued at $264,258,250; 0.00%; 08/15/2027 - 08/15/2037)		0.06	%		03/01/2022		256,312,927		256,312,500

Prudential Legacy Insurance Company of New Jersey, agreement dated 02/28/2022, maturing value of $348,750,581 (collateralized by U.S. Treasury obligations valued at $361,788,000; 0.00%; 08/15/2033 -02/15/2045)		0.06	%		03/01/2022		348,750,581		348,750,000

RBC Dominion Securities Inc., joint term agreement dated 02/08/2022, aggregate maturing value of $500,016,667 (collateralized by U.S. Treasury obligations valued at $510,000,124; 0.13% - 6.00%; 07/15/2024 -02/15/2050)^(d)		0.05	%		03/04/2022		100,003,333		100,000,000

RBC Dominion Securities Inc., joint term agreement dated 02/24/2022, aggregate maturing value of $500,004,861 (collateralized by U.S. Treasury obligations valued at $510,000,087; 0.13% - 5.25%; 04/30/2022 -02/15/2052)^(d)		0.05	%		03/03/2022		250,002,431		250,000,000

Royal Bank of Canada, joint term agreement dated 02/11/2022, aggregate maturing value of $100,004,583 (collateralized by U.S. Treasury obligations valued at $102,000,076; 0.13% - 2.75%; 05/15/2022 - 11/15/2041)^(d)		0.05	%		03/16/2022		50,002,292		50,000,000

Royal Bank of Canada, term agreement dated 02/23/2022, maturing value of $250,002,431 (collateralized by U.S. Treasury obligations valued at $255,000,061; 0.13% - 2.88%; 05/15/2022 - 11/15/2041)^(d)		0.05	%		03/02/2022		250,002,431		250,000,000

Societe Generale, joint open agreement dated 01/05/2022 (collateralized by U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 7.63%; 03/01/2022 - 02/15/2052)^(e)		0.05	%		03/01/2022		275,000,382		275,000,000

Societe Generale, joint open agreement dated 01/12/2022 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,530,000,206; 0.00% -7.63%; 03/01/2022 - 10/01/2051)^(e)		0.05	%		03/01/2022		380,000,528		380,000,000

Standard Chartered Bank, agreement dated 02/28/2022, maturing value of $250,000,347 (collateralized by U.S. Treasury obligations valued at $255,000,373; 0.13% - 4.38%; 07/15/2023 - 05/15/2051)		0.05	%		03/01/2022		250,000,347		250,000,000

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,700,003,750 (collateralized by U.S. Treasury obligations valued at $2,754,000,090; 0.38% - 2.88%; 07/31/2022 -02/15/2051)		0.05	%		03/01/2022		1,027,847,515		1,027,846,087

Total Repurchase Agreements (Cost $9,643,911,550)									9,643,911,550

TOTAL INVESTMENTS IN SECURITIES-104.06% (Cost $22,808,938,655)									22,808,938,655

OTHER ASSETS LESS LIABILITIES-(4.06)%									(889,390,382	)

NET ASSETS-100.00%								$	21,919,548,273

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(c)	Principal amount equals value at period end. See Note 1I.

^(d)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(e)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

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

12 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)


Portfolio Composition by Maturity*
In days, as of 02/28/2022

1-7	39.9	%
8-30	0.0
31-60	5.1
61-90	10.4
91-180	27.7
181+	16.9

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

13 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio


				Principal
	Interest	Maturity		Amount
	Rate	Date		(000)		Value
U.S. Treasury Securities-61.01%
U.S. Treasury Bills-43.56%^(a)
U.S. Treasury Bills	0.06%		03/01/2022	$	475,000	$ 475,000,000
U.S. Treasury Bills	0.07%		03/10/2022		750,000	749,986,875
U.S. Treasury Bills	0.08%		03/24/2022		715,000	714,965,740
U.S. Treasury Bills	0.07%		03/29/2022		705,000	704,961,471
U.S. Treasury Bills	0.09%		03/31/2022		815,000	814,942,271
U.S. Treasury Bills	0.25%		04/12/2022		2,011,000	2,010,413,458
U.S. Treasury Bills	0.25%		04/19/2022		3,000,000	2,998,979,164
U.S. Treasury Bills	0.07%		04/21/2022		250,000	249,976,979
U.S. Treasury Bills	0.11%		04/26/2022		1,690,000	1,689,603,342
U.S. Treasury Bills	0.24%		05/05/2022		750,000	749,675,000
U.S. Treasury Bills	0.29%		05/12/2022		1,200,000	1,199,303,997
U.S. Treasury Bills	0.23%		05/17/2022		545,000	544,729,618
U.S. Treasury Bills	0.44%		05/19/2022		500,000	499,517,223
U.S. Treasury Bills	0.25%		05/24/2022		800,000	799,512,917
U.S. Treasury Bills	0.29%		05/31/2022		2,000,000	1,998,572,943
U.S. Treasury Bills	0.09%		06/02/2022		850,000	849,463,625
U.S. Treasury Bills	0.34%		06/07/2022		1,550,000	1,548,572,738
U.S. Treasury Bills	0.11%		06/09/2022		250,000	249,927,083
U.S. Treasury Bills	0.50%		06/14/2022		905,000	903,692,954
U.S. Treasury Bills	0.07%		06/16/2022		400,000	399,917,521
U.S. Treasury Bills	0.55%		06/21/2022		1,565,000	1,562,322,111
U.S. Treasury Bills	0.57%		06/28/2022		1,600,000	1,597,117,141
U.S. Treasury Bills	0.08%		08/11/2022		300,000	299,891,333
U.S. Treasury Bills	0.61%-0.72%		08/25/2022		2,075,000	2,068,206,952
U.S. Treasury Bills	0.08%		09/08/2022		75,000	74,970,156
U.S. Treasury Bills	0.10%		10/06/2022		860,000	859,518,656
						26,613,741,268

U.S. Treasury Floating Rate Notes-8.87%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)	0.47%		04/30/2022		107,000	107,014,699
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)	0.42%		07/31/2022		287,000	287,008,217
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)	0.42%		10/31/2022		730,000	730,013,539
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)	0.41%		01/31/2023		412,400	412,493,852
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)	0.39%		04/30/2023		1,330,000	1,330,100,459
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)	0.39%		07/31/2023		1,085,000	1,085,029,584
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)	0.40%		10/31/2023		1,238,679	1,238,723,205
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate - 0.02%)^(b)	0.35%		01/31/2024		230,000	229,924,030
						5,420,307,585

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

14 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


						Principal
	Interest			Maturity		Amount
	Rate			Date		(000)		Value
U.S. Treasury Notes-8.58%
U.S. Treasury Notes		2.38	%		03/15/2022	$	46,000	$ 46,040,879
U.S. Treasury Notes		1.75	%		03/31/2022		650,000	650,895,927
U.S. Treasury Notes		1.88	%		03/31/2022		925,000	926,373,709
U.S. Treasury Notes		1.75	%		04/30/2022		50,000	50,137,302
U.S. Treasury Notes		1.88	%		04/30/2022		150,000	150,446,901
U.S. Treasury Notes		1.75	%		05/15/2022		135,000	135,465,164
U.S. Treasury Notes		2.13	%		05/15/2022		190,000	190,803,023
U.S. Treasury Notes		1.75	%		05/31/2022		50,000	50,209,503
U.S. Treasury Notes		1.75	%		06/30/2022		739,243	743,325,465
U.S. Treasury Notes		2.13	%		06/30/2022		660,000	664,453,821
U.S. Treasury Notes		1.75	%		07/15/2022		625,000	628,878,536
U.S. Treasury Notes		0.13	%		07/31/2022		150,000	150,011,557
U.S. Treasury Notes		2.00	%		07/31/2022		210,000	211,669,979
U.S. Treasury Notes		1.50	%		08/15/2022		140,000	140,910,651
U.S. Treasury Notes		1.63	%		08/15/2022		100,000	100,703,676
U.S. Treasury Notes		1.88	%		08/31/2022		90,000	90,521,762
U.S. Treasury Notes		1.50	%		09/15/2022		210,000	211,598,819
U.S. Treasury Notes		1.75	%		09/30/2022		100,000	100,971,671
								5,243,418,345
Total U.S. Treasury Securities (Cost $37,277,467,198)								37,277,467,198

U.S. Government Sponsored Agency Securities-8.16%
Federal Farm Credit Bank (FFCB)-3.16%
Federal Farm Credit Bank (SOFR + 0.08%)^(b)		0.13	%		03/10/2022		28,000	28,000,000
Federal Farm Credit Bank (SOFR + 0.09%)^(b)		0.13	%		06/17/2022		65,000	65,000,000
Federal Farm Credit Bank (SOFR + 0.20%)^(b)		0.25	%		06/23/2022		12,000	12,004,748
Federal Farm Credit Bank (SOFR + 0.19%)^(b)		0.24	%		07/14/2022		28,000	28,000,000
Federal Farm Credit Bank (SOFR + 0.15%)^(b)		0.19	%		07/28/2022		45,000	45,000,000
Federal Farm Credit Bank (SOFR + 0.07%)^(b)		0.12	%		08/11/2022		108,000	108,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11	%		08/26/2022		97,500	97,497,588
Federal Farm Credit Bank (SOFR + 0.09%)^(b)		0.13	%		10/07/2022		30,000	30,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08	%		10/12/2022		18,000	18,000,562
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11	%		10/21/2022		20,000	20,000,000
Federal Farm Credit Bank (SOFR + 0.08%)^(b)		0.13	%		11/03/2022		35,000	35,000,000
Federal Farm Credit Bank (SOFR + 0.01%)^(b)		0.06	%		11/16/2022		185,000	184,997,327
Federal Farm Credit Bank (SOFR + 0.07%)^(b)		0.12	%		11/18/2022		56,000	56,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11	%		12/01/2022		74,000	74,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11	%		12/28/2022		350,000	350,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11	%		02/09/2023		18,000	18,000,000
Federal Farm Credit Bank (SOFR + 0.02%)^(b)		0.07	%		06/12/2023		75,000	75,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08	%		06/14/2023		58,000	58,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08	%		07/07/2023		143,000	143,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.07	%		09/08/2023		155,000	155,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08	%		09/18/2023		21,500	21,500,000
Federal Farm Credit Bank (SOFR + 0.04%)^(b)		0.09	%		09/20/2023		25,000	25,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.07	%		09/27/2023		60,000	60,000,000

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

15 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


						Principal
	Interest			Maturity		Amount
	Rate			Date		(000)		Value
Federal Farm Credit Bank (FFCB)-(continued)
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.10	%		11/07/2023	$	50,000	$ 50,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11	%		12/13/2023		84,000	84,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11	%		01/10/2024		75,500	75,500,000
Federal Farm Credit Bank (SOFR + 0.04%)^(b)		0.09	%		01/25/2024		15,000	15,000,000
								1,931,500,225

Federal Home Loan Bank (FHLB)-4.23%
Federal Home Loan Bank		0.05	%		03/17/2022		200,000	199,998,812
Federal Home Loan Bank (SOFR + 0.07%)^(b)		0.12	%		04/14/2022		45,000	45,000,000
Federal Home Loan Bank (SOFR + 0.07%)^(b)		0.11	%		04/28/2022		28,000	28,000,000
Federal Home Loan Bank		0.06	%		05/06/2022		29,000	28,999,425
Federal Home Loan Bank^(a)		0.27	%		05/11/2022		244,000	243,872,476
Federal Home Loan Bank (SOFR + 0.06%)^(b)		0.11	%		05/12/2022		35,000	35,000,000
Federal Home Loan Bank^(a)		0.40	%		05/18/2022		114,800	114,700,507
Federal Home Loan Bank^(a)		0.40	%		05/20/2022		1,101,000	1,100,021,333
Federal Home Loan Bank		2.13	%		06/10/2022		55,750	56,054,443
Federal Home Loan Bank (SOFR + 0.13%)^(b)		0.18	%		08/05/2022		80,000	80,000,000
Federal Home Loan Bank (SOFR + 0.09%)^(b)		0.14	%		08/19/2022		380,000	380,003,070
Federal Home Loan Bank (SOFR + 0.09%)^(b)		0.13	%		10/05/2022		80,000	80,000,000
Federal Home Loan Bank (SOFR + 0.06%)^(b)		0.11	%		12/08/2022		63,200	63,202,161
Federal Home Loan Bank (SOFR + 0.06%)^(b)		0.11	%		12/16/2022		3,500	3,500,845
Federal Home Loan Bank (SOFR + 0.03%)^(b)		0.08	%		06/07/2023		125,000	125,000,000
								2,583,353,072

Federal Home Loan Mortgage Corp. (FHLMC)-0.40%
Federal Home Loan Mortgage Corp.		0.25	%		06/08/2022		15,510	15,517,146
Federal Home Loan Mortgage Corp.		0.13	%		07/25/2022		38,000	38,002,165
Federal Home Loan Mortgage Corp. (SOFR + 0.09%)^(b)		0.14	%		09/16/2022		190,000	190,000,000
								243,519,311

Federal National Mortgage Association (FNMA)-0.00%
Federal National Mortgage Association^(a)		0.20	%		03/09/2022		2,500	2,499,889

U.S. International Development Finance Corp. (DFC)-0.37%
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17	%		06/15/2025		16,800	16,800,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17	%		07/15/2025		18,278	18,277,780
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17	%		09/15/2025		3,947	3,947,368
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17	%		09/15/2026		4,750	4,750,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17	%		09/15/2026		7,917	7,916,667
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17	%		08/13/2027		8,000	8,000,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17	%		08/13/2027		4,600	4,600,000

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

16 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


						Principal
	Interest			Maturity		Amount
	Rate			Date		(000)		Value
U.S. International Development Finance Corp. (DFC)-(continued)
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17	%		09/30/2027	$	12,000	$ 12,000,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17	%		02/15/2028		13,333	13,333,333
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17	%		11/15/2028		61,364	61,363,637
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.20	%		05/15/2030		7,488	7,488,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17	%		10/15/2030		7,778	7,777,778
U.S. International Development Finance Corp. VRD Notes (3 mo. U.S. Treasury Bill Rate)^(c)		0.16	%		07/09/2026		22,950	22,950,000
U.S. International Development Finance Corp. VRD Notes (3 mo. U.S. Treasury Bill Rate)^(c)		0.17	%		03/15/2030		37,125	37,125,000
								226,329,563
Total U.S. Government Sponsored Agency Securities (Cost $4,987,202,060)								4,987,202,060
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-69.17% (Cost $42,264,669,258)								42,264,669,258

						Repurchase
						Amount
Repurchase Agreements-35.49%^(d)
ABN AMRO Bank N.V., agreement dated 02/28/2022, maturing value of $350,000,486 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $357,000,074; 1.30% - 4.50%; 06/30/2022 - 09/16/2063)		0.05	%		03/01/2022		350,000,486	350,000,000
ABN AMRO Bank N.V., agreement dated 02/28/2022, maturing value of $450,000,625 (collateralized by U.S. Treasury obligations valued at $459,000,068; 0.13% - 3.38%; 06/30/2022 - 02/15/2051)		0.05	%		03/01/2022		450,000,625	450,000,000
Bank of Montreal, joint term agreement dated 02/10/2022, aggregate maturing value of $250,014,583 (collateralized by domestic agency mortgage-backed securities valued at $255,000,000; 2.50% - 4.50%; 11/01/2046 -02/01/2052)^(e)		0.06	%		03/17/2022		125,007,292	125,000,000
BNP Paribas Securities Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $500,004,861 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,007; 0.00% - 7.00%; 06/21/2022 - 02/01/2052)^(e)		0.05	%		03/01/2022		385,003,743	385,000,000
BofA Securities, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $745,001,035 (collateralized by domestic agency mortgage-backed securities valued at $759,900,001; 0.46% - 7.50%; 09/25/2022 -01/01/2052)		0.05	%		03/01/2022		238,000,331	238,000,000
CIBC World Markets Corp., joint term agreement dated 01/24/2022, aggregate maturing value of $500,043,333 (collateralized by domestic agency mortgage-backed securities valued at $510,000,000; 1.50% - 4.50%; 10/01/2036 - 03/01/2052)^(e)		0.06	%		03/17/2022		350,030,333	350,000,000
CIBC World Markets Corp., joint term agreement dated 02/07/2022, aggregate maturing value of $350,020,319 (collateralized by U.S. Treasury obligations valued at $357,000,019; 0.00% - 4.50%; 07/14/2022 - 02/15/2051)^(e)		0.06	%		03/17/2022		200,011,611	200,000,000
Citigroup Global Markets, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $400,000,556 (collateralized by U.S. Treasury obligations valued at $408,000,001; 0.00% - 0.13%; 01/15/2023 - 02/15/2051)		0.05	%		03/01/2022		113,000,157	113,000,000

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

17 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest			Maturity		Repurchase
	Rate			Date		Amount		Value
Citigroup Global Markets, Inc., joint term agreement dated 02/22/2022, aggregate maturing value of $500,005,833 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,029; 0.00% - 17.46%; 07/31/2023 - 07/20/2070)^(e)		0.06	%		03/01/2022	$	400,004,667	$ 400,000,000
Credit Agricole Corporate & Investment Bank, agreement dated 02/28/2022, maturing value of $200,000,278 (collateralized by a domestic agency mortgage-backed security valued at $204,000,001; 2.00%; 01/20/2051)		0.05	%		03/01/2022		200,000,278	200,000,000
Credit Agricole Corporate & Investment Bank, joint open agreement dated 12/01/2021 (collateralized by U.S. Treasury obligations valued at $2,032,860,462; 0.13% - 3.13%; 04/15/2024 - 11/15/2050)^(f)		0.05	%		03/01/2022		1,242,047,955	1,242,000,000
Federal Reserve Bank of New York, joint agreement dated 02/28/2022, aggregate maturing value of $800,001,111 (collateralized by U.S. Treasury obligations valued at $800,001,169; 0.13%; 11/30/2022)		0.05	%		03/01/2022		600,000,833	600,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), agreement dated 02/28/2022, maturing value of $3,500,004,861 (collateralized by U.S. Treasury obligations valued at $3,570,000,054; 0.13% - 3.88%; 01/15/2026 - 02/15/2044)		0.05	%		03/01/2022		3,500,004,861	3,500,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), joint agreement dated 02/28/2022, aggregate maturing value of $612,000,085 (collateralized by U.S. Treasury obligations valued at $624,240,130; 0.00%; 08/11/2022)		0.01	%		03/01/2022		412,000,057	412,000,000
Fixed Income Clearing Corp. - State Street Bank, agreement dated 02/28/2022, maturing value of $300,000,083 (collateralized by U.S. Treasury obligations valued at $306,000,068; 0.13% - 0.47%; 04/15/2022 - 04/30/2022)		0.01	%		03/01/2022		300,000,083	300,000,000
Goldman Sachs & Co., agreement dated 02/28/2022, maturing value of $500,000,139 (collateralized by U.S. Treasury obligations valued at $510,000,000; 0.00% - 7.63%; 04/07/2022 - 02/15/2052)		0.01	%		03/01/2022		500,000,139	500,000,000
Goldman Sachs & Co., term agreement dated 02/22/2022, maturing value of $295,003,155 (collateralized by U.S. Treasury obligations valued at $300,900,027; 0.00% - 2.50%; 08/15/2022 - 02/28/2026)^(e)		0.06	%		03/01/2022		295,003,155	295,000,000
ING Financial Markets, LLC, joint term agreement dated 02/22/2022, aggregate maturing value of $200,008,944 (collateralized by domestic agency mortgage-backed securities valued at $204,000,000; 1.50% - 4.50%; 10/01/2029 - 05/01/2058)		0.07	%		03/17/2022		130,005,814	130,000,000
ING Financial Markets, LLC, joint term agreement dated 12/28/2021, aggregate maturing value of $350,070,000 (collateralized by U.S. government sponsored agency obligations and domestic agency mortgage-backed securities valued at $357,000,395; 0.00% - 7.50%; 12/28/2022 - 05/01/2058)		0.08	%		03/28/2022		300,060,000	300,000,000
ING Financial Markets, LLC, term agreement dated 02/07/2022, maturing value of $200,010,667 (collateralized by domestic agency mortgage-backed securities valued at $204,000,000; 1.50% - 7.50%; 06/01/2027 -02/01/2052)		0.06	%		03/11/2022		200,010,667	200,000,000
ING Financial Markets, LLC, term agreement dated 02/10/2022, maturing value of $275,013,292 (collateralized by U.S. government sponsored agency obligations and domestic agency mortgage-backed securities valued at $280,500,646; 0.00% - 5.00%; 04/05/2022 - 02/01/2052)		0.06	%		03/11/2022		275,013,292	275,000,000
J.P. Morgan Securities LLC, joint agreement dated 02/28/2022, aggregate maturing value of $1,000,001,667 (collateralized by domestic agency mortgage-backed securities valued at $1,020,000,000; 0.46% - 7.50%; 06/25/2025 - 10/16/2062)		0.06	%		03/01/2022		800,001,333	800,000,000
J.P. Morgan Securities LLC, joint open agreement dated 03/27/2020 (collateralized by U.S. Treasury obligations valued at $867,001,467; 0.00% -2.38%; 03/03/2022 - 05/15/2050)^(f)		0.05	%		03/01/2022		150,005,792	150,000,000
J.P. Morgan Securities LLC, joint open agreement dated 07/01/2021 (collateralized by domestic agency mortgage-backed securities valued at $239,700,000; 0.47% - 6.00%; 01/01/2026 - 10/15/2061)^(f)		0.06	%		03/01/2022		210,009,742	210,000,000

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

18 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest			Maturity		Repurchase
	Rate			Date		Amount		Value
J.P. Morgan Securities LLC, joint open agreement dated 07/01/2021 (collateralized by domestic agency mortgage-backed securities valued at $280,500,035; 1.85% - 6.00%; 07/01/2026 - 02/20/2052)^(f)		0.07	%		03/01/2022	$	240,013,000	$ 240,000,000
J.P. Morgan Securities LLC, joint open agreement dated 10/15/2019 (collateralized by domestic agency mortgage-backed securities valued at $382,500,005; 0.46% - 7.50%; 12/15/2026 - 02/16/2058)^(f)		0.07	%		03/01/2022		275,014,896	275,000,000
Metropolitan Life Insurance Co., joint term agreement dated 02/23/2022, aggregate maturing value of $350,014,295 (collateralized by U.S. Treasury obligations valued at $358,935,903; 0.00%; 08/15/2027 - 11/15/2045)^(e)		0.07	%		03/02/2022		170,004,314	170,002,000
Mitsubishi UFJ Trust & Banking Corp., agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by domestic agency mortgage-backed securities valued at $510,000,000; 0.30% - 3.50%; 08/25/2027 -01/20/2052)		0.05	%		03/01/2022		500,000,694	500,000,000
Mitsubishi UFJ Trust & Banking Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $768,135,455 (collateralized by U.S. Treasury obligations valued at $788,525,747; 1.13%; 02/28/2025 - 02/28/2027)^(e)		0.07	%		03/02/2022		338,192,103	338,187,500
Mizuho Securities (USA) LLC, agreement dated 02/28/2022, maturing value of $200,000,278 (collateralized by U.S. Treasury obligations valued at $204,000,019; 0.00%; 03/31/2022 - 08/04/2022)		0.05	%		03/01/2022		200,000,278	200,000,000
Prudential Insurance Co. of America, agreement dated 02/28/2022, maturing value of $509,883,350 (collateralized by U.S. Treasury obligations valued at $528,644,040; 0.00%; 02/15/2026 - 11/15/2043)		0.06	%		03/01/2022		509,883,350	509,882,500
RBC Capital Markets LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $750,001,875 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $765,000,244; 0.13% - 8.00%; 03/01/2022 - 08/20/2065)^(e)(g)		0.09	%		03/01/2022		600,001,500	600,000,000
RBC Dominion Securities Inc., agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,049; 0.00% - 5.50%; 07/15/2024 - 01/15/2052)		0.05	%		03/01/2022		500,000,694	500,000,000
RBC Dominion Securities Inc., joint term agreement dated 01/11/2022, aggregate maturing value of $500,049,167 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,022; 0.00% - 6.00%; 03/31/2022 - 01/15/2052)^(e)		0.06	%		03/11/2022		250,024,583	250,000,000
RBC Dominion Securities Inc., joint term agreement dated 01/19/2022, aggregate maturing value of $1,000,076,389 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 5.50%; 02/15/2030 - 01/15/2052)^(e)		0.06	%		03/10/2022		875,066,840	875,000,000
RBC Dominion Securities Inc., joint term agreement dated 02/08/2022, aggregate maturing value of $500,016,667 (collateralized by U.S. Treasury obligations valued at $510,000,124; 0.13% - 6.00%; 07/15/2024 -02/15/2050)^(e)		0.05	%		03/04/2022		200,006,667	200,000,000
RBC Dominion Securities Inc., joint term agreement dated 02/24/2022, aggregate maturing value of $500,004,861 (collateralized by U.S. Treasury obligations valued at $510,000,087; 0.13% - 5.25%; 04/30/2022 -02/15/2052)^(e)		0.05	%		03/03/2022		250,002,431	250,000,000
Royal Bank of Canada, joint term agreement dated 02/11/2022, aggregate maturing value of $100,004,583 (collateralized by U.S. Treasury obligations valued at $102,000,076; 0.13% - 2.75%; 05/15/2022 - 11/15/2041)^(e)		0.05	%		03/16/2022		50,002,292	50,000,000
Societe Generale, joint agreement dated 02/28/2022, aggregate maturing value of $1,600,002,222 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,632,000,047; 0.00% - 7.13%; 03/15/2022 -02/01/2052)		0.05	%		03/01/2022		1,350,001,875	1,350,000,000

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

19 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest			Maturity		Repurchase
	Rate			Date		Amount		Value

Societe Generale, joint open agreement dated 01/05/2022 (collateralized by U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 7.63%; 03/01/2022 - 02/15/2052)^(f)		0.05	%		03/01/2022	$	575,000,799	$	575,000,000

Societe Generale, joint open agreement dated 01/12/2022 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,530,000,206; 0.00% - 7.63%; 03/01/2022 - 10/01/2051)^(f)		0.05	%		03/01/2022		890,001,236		890,000,000

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)		0.06	%		03/01/2022		455,713,751		455,712,991

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,700,003,750 (collateralized by U.S. Treasury obligations valued at $2,754,000,090; 0.38% - 2.88%; 07/31/2022 - 02/15/2051)		0.05	%		03/01/2022		1,672,156,235		1,672,153,913

TD Securities (USA) LLC, term agreement dated 02/23/2022, maturing value of $55,000,588 (collateralized by a U.S. Treasury obligation valued at $56,100,009; 2.75%; 11/15/2023)^(e)		0.06	%		03/02/2022		55,000,588		55,000,000

Total Repurchase Agreements (Cost $21,680,938,904)									21,680,938,904

TOTAL INVESTMENTS IN SECURITIES-104.66% (Cost $63,945,608,162)									63,945,608,162

OTHER ASSETS LESS LIABILITIES-(4.66)%									(2,849,604,491	)

NET ASSETS-100.00%								$	61,096,003,671

Investment Abbreviations:

SOFR -Secured Overnight Financing Rate

VRD -Variable Rate Demand

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(c)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(d)	Principal amount equals value at period end. See Note 1I.

^(e)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(f)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(g)	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7		30.1%

8-30		5.5

31-60		15.4

61-90		9.7

91-180		25.6

181+		13.7

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

20 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Treasury Obligations Portfolio


				Principal
	Interest	Maturity		Amount
	Rate	Date		(000)		Value
U.S. Treasury Securities-113.88%

U.S. Treasury Bills-96.41%^(a)

U.S. Treasury Bills	0.06%		03/01/2022	$	73,600	$	73,600,000
U.S. Treasury Bills	0.01%-0.05%		03/03/2022		40,700		40,699,891
U.S. Treasury Bills	0.06%		03/08/2022		84,000		83,999,469
U.S. Treasury Bills	0.06%-0.07%		03/10/2022		32,000		31,999,504
U.S. Treasury Bills	0.02%-0.05%		03/15/2022		105,000		104,998,816
U.S. Treasury Bills	0.06%		03/17/2022		20,500		20,499,499
U.S. Treasury Bills	0.05%-0.08%		03/22/2022		86,938		86,933,792
U.S. Treasury Bills	0.14%		03/29/2022		88,600		88,594,856
U.S. Treasury Bills	0.09%		03/31/2022		15,650		15,648,891
U.S. Treasury Bills	0.14%		04/05/2022		30,000		29,995,916
U.S. Treasury Bills	0.09%		04/07/2022		30,000		29,997,225
U.S. Treasury Bills	0.25%		04/12/2022		70,000		69,979,583
U.S. Treasury Bills	0.12%		04/14/2022		20,000		19,997,030
U.S. Treasury Bills	0.25%		04/19/2022		80,000		79,972,778
U.S. Treasury Bills	0.07%-0.17%		04/21/2022		21,000		20,996,391
U.S. Treasury Bills	0.11%		04/26/2022		70,000		69,981,022
U.S. Treasury Bills	0.19%		04/28/2022		21,000		20,993,572
U.S. Treasury Bills	0.21%		05/03/2022		8,000		7,997,130
U.S. Treasury Bills	0.24%		05/05/2022		30,000		29,987,000
U.S. Treasury Bills	0.26%		05/10/2022		1,467		1,466,265
U.S. Treasury Bills	0.29%		05/12/2022		30,000		29,982,600
U.S. Treasury Bills	0.23%		05/17/2022		11,000		10,994,590
U.S. Treasury Bills	0.40%		05/19/2022		7,000		6,993,902
U.S. Treasury Bills	0.28%		05/24/2022		11,000		10,993,058
U.S. Treasury Bills	0.38%		05/26/2022		30,000		29,972,767
U.S. Treasury Bills	0.29%		05/31/2022		20,000		19,985,781
U.S. Treasury Bills	0.09%		06/02/2022		54,000		53,953,570
U.S. Treasury Bills	0.34%		06/07/2022		15,000		14,986,117
U.S. Treasury Bills	0.07%		06/16/2022		3,000		2,999,376
U.S. Treasury Bills	0.55%		06/21/2022		16,000		15,972,622
U.S. Treasury Bills	0.57%		06/28/2022		29,000		28,945,359
U.S. Treasury Bills	0.38%		07/07/2022		7,000		6,990,505
U.S. Treasury Bills	0.71%		08/25/2022		12,000		11,958,110
							1,173,066,987

U.S. Treasury Floating Rate Notes-17.06%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)	0.47%		04/30/2022		55,000		55,002,639
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)	0.42%		07/31/2022		22,000		22,000,544
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)	0.42%		10/31/2022		45,000		44,999,181
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)	0.41%		01/31/2023		11,000		11,001,688
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)	0.39%		04/30/2023		19,000		19,000,897

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

21 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Obligations Portfolio–(continued)


				Principal
	Interest	Maturity		Amount
	Rate	Date		(000)		Value

U.S. Treasury Floating Rate Notes-(continued)
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)	0.39%		07/31/2023	$	17,500	$	17,500,602

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)	0.40%		10/31/2023		30,000		30,000,861

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate -0.02%)^(b)	0.35%		01/31/2024		8,000		7,997,358

							207,503,770


U.S. Treasury Notes-0.41%
U.S. Treasury Notes (Cost $5,036,995)	1.88%		07/31/2022		5,000		5,036,995

TOTAL INVESTMENTS IN SECURITIES-113.88% (Cost $1,385,607,752)							1,385,607,752

OTHER ASSETS LESS LIABILITIES-(13.88)%							(168,891,225	)

NET ASSETS-100.00%						$	1,216,716,527

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7			8.3%

8-30			30.1

31-60			25.8

61-90			13.2

91-180			13.2

181+			9.4

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

22 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
Municipal Obligations-99.97%
Alabama-3.24%
Mobile (County of), AL Industrial Development Authority (SSAB Alabama, Inc.); Series 2010 A, VRD RB (LOC - Swedbank AB)^(a)(b)(c)		0.28%		07/01/2040		$5,500	$ 5,500,000

Arizona-3.20%
Casa Grande (City of), AZ Industrial Development Authority (Quail Gardens Apartments); Series 2001 A, Ref. VRD RB (CEP - FNMA)^(b)		0.20%		06/15/2031		2,685	2,685,000
Sierra Vista (City of), AZ Industrial Development Authority (Mountain Steppes Apartments); Series 2001 A, Ref. VRD RB (CEP - FNMA)^(b)		0.20%		06/15/2031		2,745	2,745,000
							5,430,000

California-1.47%
California (State of);
Series 2022 A-1, Commercial Paper Notes (LOC - Wells Fargo Bank N.A.)^(c)		0.17%		03/01/2022		1,500	1,500,000
Series 2022 A-5, Commercial Paper Notes (LOC - U.S. Bank N.A.)^(c)		0.17%		03/01/2022		1,000	1,000,000
							2,500,000

Delaware-2.47%
Delaware (State of) Economic Development Authority (Goodwill Industries of Delaware & Delaware County); Series 2006, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.20%		09/01/2036		2,655	2,655,000
Delaware (State of) Economic Development Authority (YMCA of Delaware); Series 2007, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.21%		05/01/2036		1,535	1,535,000
							4,190,000

District of Columbia-1.66%
District of Columbia (Medlantic/Helix); Series 1998 A, VRD RB (LOC - TD Bank N.A.)^(a)(b)(c)		0.19%		08/15/2038		2,820	2,820,000

Florida-6.01%
Palm Beach (County of), FL (Henry Morrison Flagler Museum); Series 2003, VRD RB (LOC - Northern Trust Co. (The))^(b)(c)		0.25%		11/01/2036		2,725	2,725,000
Palm Beach (County of), FL (The Raymond F. Kravis Center for the Performing Arts, Inc.); Series 2002, VRD RB (LOC - Northern Trust Co. (The))^(b)(c)		0.21%		07/01/2032		2,400	2,400,000
Sarasota (County of), FL Public Hospital District (Sarasota Memorial Hospital); Series 2008 B, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(b)(c)		0.20%		07/01/2037		5,075	5,075,000
							10,200,000

Georgia-1.13%
Atlanta (City of), GA Georgia Development Authority (Perkins + Will, Inc.); Series 2010, VRD RB (LOC - BMO Harris Bank N.A.)^(a)(b)(c)		0.20%		11/01/2030		1,920	1,920,000

Illinois-10.32%
Illinois (State of) Educational Facilities Authority (The Adler Planetarium); Series 1997, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.20%		04/01/2031		5,000	5,000,000
Illinois (State of) Finance Authority (Northwestern University); Subseries 2008 B, VRD RB^(b)		0.20%		12/01/2046		5,730	5,730,000
Illinois (State of) Finance Authority (Uhlich Children’s Home); Series 2002, VRD IDR (LOC - U.S. Bank N.A.)^(b)(c)		0.20%		10/01/2033		2,625	2,625,000
Illinois (State of) Housing Development Authority (Foxview I & II Apartments); Series 2008, VRD MFH RB (LOC - FHLMC)^(b)(c)		0.13%		01/01/2041		4,160	4,160,000
							17,515,000

Indiana-1.83%
Huntington (City of), IN (Huntington University); Series 2007, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(b)(c)		0.25%		08/01/2037		3,105	3,105,000

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

23 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
Iowa-1.65%
Iowa (State of) Finance Authority (CJ Bio America); Series 2021, Ref. VRD RB^(a)(b)(d)		0.24%		12/01/2041		$2,805	$ 2,805,000

Louisiana-3.64%
Louisiana (State of) Offshore Terminal Authority Deepwater Port (Loop LLC); Series 2013 B, Ref. VRD RB (LOC - JPMorgan Chase Bank N.A.)^(b)(c)		0.23%		09/01/2033		1,000	1,000,000
Louisiana (State of) Public Facilities Authority (CHRISTUS Health);
Series 2009 B-3, Ref. VRD RB (LOC - Bank of New York Mellon (The))^(b)(c)		0.21%		07/01/2047		4,085	4,085,000
Series 2009 B-1, Ref. VRD RB (LOC - Bank of New York Mellon (The))^(b)(c)		0.21%		07/01/2047		1,100	1,100,000
							6,185,000

Maryland-0.59%
Montgomery (County of), MD; Series 2010 B, Commercial Paper Notes		0.10%		03/01/2022		1,000	1,000,000

Massachusetts-4.71%
Massachusetts (State of) Department of Transportation; Series 2010 A-1, VRD Metropolitan Highway System RB (LOC - Citibank N.A.)^(b)(c)		0.16%		01/01/2037		3,000	3,000,000
Massachusetts (State of) Health & Educational Facilities Authority; Series 2021 EE, Commercial Paper Notes		0.09%		03/01/2022		5,000	5,000,000
							8,000,000

Michigan-3.15%
Kent (County of), MI Hospital Finance Authority (Spectrum Health System); Series 2008 C, Ref. VRD RB (LOC - Bank of New York Mellon (The))^(b)(c)		0.21%		01/15/2026		820	820,000
Michigan State University Board of Trustees;
Series 2000 A-1, VRD RB^(b)		0.21%		08/15/2030		3,620	3,620,000
Series 2000 A-2, VRD RB^(b)		0.21%		08/15/2030		910	910,000
							5,350,000

Minnesota-5.82%
Burnsville (City of), MN (Bridgeway Apartments L.P.); Series 2003, Ref. VRD RB (CEP - FNMA)^(b)		0.28%		10/15/2033		1,175	1,175,000
Oak Park Heights (City of), MN (Boutwells Landing); Series 2005, Ref. VRD RB (CEP - FHLMC)^(b)		0.19%		11/01/2035		3,700	3,700,000
St. Paul (City of), MN Housing & Redevelopment Authority (Highland Ridge, L.P.); Series 2003, Ref. VRD RB (CEP - FHLMC)^(b)		0.19%		10/01/2033		1,000	1,000,000
University of Minnesota; Series 2022 H, Commercial Paper Notes		0.26%		03/17/2022		4,000	4,000,000
							9,875,000

Mississippi-1.95%
Mississippi Business Finance Corp. (Chevron U.S.A., Inc.);
Series 2010 C, VRD IDR^(b)		0.22%		12/01/2030		585	585,000
Series 2010 E, VRD IDR^(b)		0.22%		12/01/2030		2,730	2,730,000
							3,315,000

Missouri-1.59%
Bridgeton (City of), MO Industrial Development Authority (Stolze Printing); Series 2010, VRD RB (LOC - FHLB of Chicago)^(b)(c)		0.20%		11/01/2037		1,320	1,320,000
Missouri (State of) Development Finance Board (Kopytek Printing); Series 2010, VRD IDR (LOC - FHLB of Chicago)^(b)(c)		0.35%		08/01/2038		1,385	1,385,000
							2,705,000

New Jersey-2.94%
New Jersey (State of) Health Care Facilities Financing Authority (Virtua Health); Series 2009 D, VRD RB (LOC - TD Bank N.A.)^(a)(b)(c)		0.18%		07/01/2043		5,000	5,000,000

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

24 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
New York-4.08%
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.19%		11/15/2046		$3,320	$ 3,320,000
New York (State of) Energy Research & Development Authority (Consolidated Edison Co. of New York, Inc.); Subseries 2005 A-2, VRD RB (LOC - Mizuho Bank Ltd.)^(a)(b)(c)		0.19%		05/01/2039		3,600	3,600,000
							6,920,000

North Carolina-0.76%
North Carolina (State of) Educational Facilities Finance Agency (Duke University); Series 1992 A, VRD RB^(b)		0.15%		06/01/2027		1,285	1,285,000

Ohio-1.67%
Lorain (County of), OH Port Authority (St. Ignatius High School); Series 2008, VRD RB (LOC - U.S. Bank N.A.)^(b)(c)		0.20%		08/02/2038		2,835	2,835,000

Pennsylvania-1.55%
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.19%		06/01/2037		1,320	1,320,000
Lebanon (County of), PA Health Facilities Authority (E.C.C. Retirement Village); Series 2000, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.20%		10/15/2025		310	310,000
Philadelphia (City of), PA; Series 2022 A, Commercial Paper Notes^(a)		0.35%		03/24/2022		1,000	1,000,000
							2,630,000

Rhode Island-2.65%
Rhode Island Health & Educational Building Corp. (Brown University); Series 2003 B, VRD RB^(b)		0.21%		09/01/2043		4,500	4,500,000

Texas-19.92%
Board of Regents of the University of Texas System; Series 2008 B, VRD RB^(b)		0.17%		08/01/2025		1,615	1,615,000
Garland (City of), TX; Series 2021, Commercial Paper Notes		0.13%		04/05/2022		5,000	5,000,000
Harris (County of), TX Hospital District; Series 2010, Ref. VRD RB (LOC - JPMorgan Chase Bank N.A.)^(b)(c)		0.21%		02/15/2042		5,700	5,700,000
Houston (City of), TX; Series 2018 E-2, GO Commercial Paper Notes		0.22%		03/16/2022		4,000	4,000,000
Houston (City of), TX (Combined Utility System); Series 2004 B-3, Ref. VRD RB (LOC - Sumitomo Mitsui Banking Corp.)^(a)(b)(c)		0.21%		05/15/2034		5,250	5,250,000
San Gabriel Health Facilities Development Corp. (YMCA of Greater Williamson County); Series 2005, VRD RB (LOC - JPMorgan Chase Bank N.A.)^(b)(c)		0.24%		04/01/2026		1,890	1,890,000
Texas (State of) Department of Housing & Community Affairs (Costa Mariposa Apartments); Series 2009, VRD RB (CEP - FHLMC)^(b)		0.26%		05/01/2042		2,375	2,375,000
Texas A&M University System Board of Regents; Series 2021 B, Commercial Paper Notes		0.14%		06/02/2022		5,000	5,000,000
University of Texas Board of Regents; Series 2018, Revenue Financing System Commercial Paper Notes		0.29%		04/06/2022		3,000	3,000,000
							33,830,000

Virginia-2.53%
Norfolk (City of), VA; Series 2007, VRD GO Bonds^(b)		0.21%		08/01/2037		4,300	4,300,000

Washington-3.25%
Washington (State of) Housing Finance Commission (Kitts Corner Apartments); Series 2014, VRD RB (LOC - FHLB of San Francisco)^(b)(c)		0.13%		09/01/2049		3,375	3,375,000
Washington (State of) Housing Finance Commission (Redmond Ridge Apartments); Series 2017, VRD RB (LOC - FHLB of San Francisco)^(b)(c)		0.13%		11/01/2047		2,145	2,145,000
							5,520,000

West Virginia-4.29%
Cabell (County of), WV (Provident Group - Marshall Properties LLC - Marshall University); Series 2010 A, VRD RB (LOC - Bank of America N.A.)^(b)(c)		0.21%		07/01/2039		845	845,000

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

25 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
West Virginia-(continued)
West Virginia (State of) Hospital Finance Authority (Cabell Huntington Hospital, Inc.); Series 2008 B, Ref. VRD RB (LOC - Branch Banking & Trust Co.)^(b)(c)		0.27%		01/01/2034		$6,445	$ 6,445,000
							7,290,000

Wisconsin-1.90%
Lima (Town of), WI (Sharon S. Richardson Community Hospice, Inc.); Series 2009, VRD RB (LOC - FHLB of Chicago)^(b)(c)		0.21%		10/01/2042		3,230	3,230,000
TOTAL INVESTMENTS IN SECURITIES^(e)(f)-99.97% (Cost $169,755,000)							169,755,000
OTHER ASSETS LESS LIABILITIES-0.03%							54,772
NET ASSETS-100.00%							$169,809,772

Investment Abbreviations:


CEP		- Credit Enhancement Provider
FHLB		- Federal Home Loan Bank
FHLMC		- Federal Home Loan Mortgage Corp.
FNMA		- Federal National Mortgage Association
GO		- General Obligation
IDR		- Industrial Development Revenue Bonds
LOC		- Letter of Credit
MFH		- Multi-Family Housing
RB		- Revenue Bonds
Ref.		- Refunding
VRD		- Variable Rate Demand

Notes to Schedule of Investments:

^(a)	The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: Canada:5.7%;Japan:5.2%;other countries less than 5% each: 5.5%.

^(b)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(c)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(d)

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 value of this security at February 28, 2022 represented 1.65% of the Fund’s Net Assets.

^(e)	Also represents cost for federal income tax purposes.

^(f)


Entities		Percentage
PNC Bank N.A.		8.3%
Federal Home Loan Banks		6.8
Federal Home Loan Mortgage Corporation		6.6
Wells Fargo Bank N.A.		5.7
JPMorgan Chase Bank, N.A.		5.1

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

26 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7			87.0%
8-30			5.3
31-60			4.7
61-90			0.0
91-180			3.0
181+			0.0

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

27 Short-Term Investments Trust

Statements of Assets and Liabilities

February 28, 2022

(Unaudited)


												Invesco Treasury			Invesco Tax-Free
	Invesco Liquid			Invesco STIC			Invesco Treasury			Invesco Government		Obligations			Cash Reserve
	Assets Portfolio			Prime Portfolio			Portfolio			& Agency Portfolio		Portfolio			Portfolio

Assets:

Investments in unaffiliated securities, at value	$	1,690,271,922		$	191,977,496		$	13,165,027,105		$	42,264,669,258	$	1,385,607,752		$	169,755,000


Repurchase agreements, at value and cost		550,898,981			84,326,230			9,643,911,550			21,680,938,904		-			-


Cash		-			-			-			-		37,752			-


Receivable for:
Fund shares sold		-			-			2,845			108,705		-			-

Interest		155,860			8,158			13,433,654			29,052,274		73,642			22,965

Fund expenses absorbed		106,833			33,665			1,417,208			2,190,429		109,348			87,930


Investment for trustee deferred compensation and retirement plans		3,524,447			951,741			2,115,902			963,666		102,725			329,541


Other assets		-			132,217			447,526			588,715		792			31,227

Total assets		2,244,958,043			277,429,507			22,826,355,790			63,978,511,951		1,385,932,011			170,226,663


Liabilities:

Payable for:
Investments purchased		29,986,825			13,993,951			898,693,915			2,846,428,808		168,883,059			-

Fund shares reacquired		-			-			12,000			24,638,227		-			-

Amount due custodian		-			-			1,574,127			1,508,529		-			-

Dividends		12,043			2,307			174,513			1,218,332		9,461			1,333

Accrued fees to affiliates		332,171			45,296			3,646,596			7,134,843		165,808			33,290

Accrued trustees’ and officers’ fees and benefits		5,730			3,681			29,867			69,304		4,476			3,395

Accrued operating expenses		28,399			5,900			282,157			288,795		35,540			30,140


Trustee deferred compensation and retirement plans		3,750,354			1,006,111			2,394,342			1,221,442		117,140			348,733

Total liabilities		34,115,522			15,057,246			906,807,517			2,882,508,280		169,215,484			416,891


Net assets applicable to shares outstanding	$	2,210,842,521		$	262,372,261		$	21,919,548,273		$	61,096,003,671	$	1,216,716,527		$	169,809,772


Net assets consist of:

Shares of beneficial interest	$	2,214,068,700		$	263,115,662		$	21,920,415,657		$	61,095,416,116	$	1,216,782,664		$	170,089,160


Distributable earnings (loss)		(3,226,179	)		(743,401	)		(867,384	)		587,555		(66,137	)		(279,388	)

	$	2,210,842,521		$	262,372,261		$	21,919,548,273		$	61,096,003,671	$	1,216,716,527		$	169,809,772


Net Assets:

Institutional Class	$	2,204,979,174		$	261,269,078		$	18,241,859,039		$	53,964,770,211	$	1,098,426,693		$	135,656,602


Private Investment Class	$	2,885,966		$	473,512		$	312,889,460		$	562,429,844	$	13,703,576		$	11,700,511


Personal Investment Class	$	10,246		$	92,856		$	379,824,634		$	15,716,834	$	10,077,798		$	1,333,813


Cash Management Class	$	2,385,218		$	428,281		$	476,970,117		$	956,426,056	$	78,410		$	4,202,044


Reserve Class	$	211,505		$	87,041		$	1,678,474,426		$	538,091,162	$	90,998,450		$	15,429,661


Resource Class	$	247,323		$	385		$	38,293,629		$	134,028,878	$	98,111		$	1,476,862


Corporate Class	$	23,129		$	21,108		$	279,646,266		$	1,018,276,963	$	3,333,489		$	10,279


CAVU Securities Class	$	99,960		$	-		$	511,590,702		$	3,906,263,723	$	-		$	-

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

28 Short-Term Investments Trust

Statements of Assets and Liabilities–(continued)

February 28, 2022

(Unaudited)


									Invesco Treasury		Invesco Tax-Free
	Invesco Liquid		Invesco STIC		Invesco Treasury		Invesco Government		Obligations		Cash Reserve
	Assets Portfolio		Prime Portfolio		Portfolio		& Agency Portfolio		Portfolio		Portfolio


Shares outstanding, no par value, unlimited number of shares authorized:

Institutional Class		2,205,019,784		261,262,354		18,240,410,505		53,964,110,943		1,098,435,692		135,636,048


Private Investment Class		2,886,030		473,500		312,866,402		562,417,907		13,703,762		11,698,732


Personal Investment Class		10,246		92,854		379,787,513		15,716,633		10,077,890		1,333,647


Cash Management Class		2,385,270		428,270		476,928,857		956,415,735		78,412		4,201,456


Reserve Class		211,509		87,039		1,678,353,435		538,081,580		90,998,347		15,427,388


Resource Class		247,328		385		38,290,367		134,025,688		98,112		1,476,639


Corporate Class		23,130		21,107		279,625,136		1,018,275,908		3,333,522		10,277


CAVU Securities Class		99,962		-		511,545,921		3,906,258,431		-		-


Net asset value, offering and redemption price per share for each class	$	1.0000	$	1.0000	$	1.00	$	1.00	$	1.00	$	1.00


Cost of Investments	$	2,241,779,487	$	276,300,889	$	22,808,938,655	$	63,945,608,162	$	1,385,607,752	$	169,755,000

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

29 Short-Term Investments Trust

Statements of Operations

For the six months ended February 28, 2022

(Unaudited)


													Invesco Treasury			Invesco Tax-Free
	Invesco Liquid			Invesco STIC			Invesco Treasury			Invesco Government			Obligations			Cash Reserve
	Assets Portfolio			Prime Portfolio			Portfolio			& Agency Portfolio			Portfolio			Portfolio

Investment income:

Interest	$	1,870,765		$	163,870		$	9,396,711		$	22,014,594		$	446,063		$	64,820


Expenses:

Advisory fees		1,538,049			194,005			16,592,349			27,022,435			701,350			156,141


Administrative services fees		461,582			57,036			4,949,534			11,947,185			221,111			34,579


Custodian fees		26,384			9,192			203,379			186,726			5,734			2,572


Distribution fees:
Private Investment Class		4,297			832			431,096			813,131			17,946			13,527

Personal Investment Class		27			253			868,352			29,956			18,366			3,039

Cash Management Class		1,037			196			192,510			360,118			60			1,764

Reserve Class		925			375			5,311,944			2,244,581			286,523			71,520

Resource Class		291			-			47,971			100,170			78			1,171

Corporate Class		4			3			39,942			129,084			549			2


Transfer agent fees		92,283			11,640			995,541			2,432,019			46,385			7,026


Trustees’ and officers’ fees and benefits		15,799			9,952			81,950			201,650			12,307			9,447


Registration and filing fees		53,276			41,241			472,941			393,620			69,312			51,606


Reports to shareholders		8,372			6,367			31,453			26,728			6,900			13,302


Professional services fees		27,007			21,757			80,198			137,188			24,164			21,099


Other		65,381			33,080			206,536			302,178			56,799			16,536

Total expenses		2,294,714			385,929			30,505,696			46,326,769			1,467,584			403,331


Less: Fees waived and expenses reimbursed		(547,540	)		(235,281	)		(22,239,477	)		(31,376,941	)		(1,075,990	)		(346,495	)

Net expenses		1,747,174			150,648			8,266,219			14,949,828			391,594			56,836


Net investment income		123,591			13,222			1,130,492			7,064,766			54,469			7,984


Realized and unrealized gain (loss) from:

Net realized gain (loss) from unaffiliated investment securities		3,959			18			337,662			26,979			(17,701	)		-


Change in net unrealized appreciation (depreciation) of unaffiliated investment securities		(771,504	)		3,071			-			-			-			-


Net realized and unrealized gain (loss)		(767,545	)		3,089			337,662			26,979			(17,701	)		-


Net increase (decrease) in net assets resulting from operations	$	(643,954	)	$	16,311		$	1,468,154		$	7,091,745		$	36,768		$	7,984

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

30 Short-Term Investments Trust

Statements of Changes in Net Assets

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Liquid Assets Portfolio						Invesco STIC Prime Portfolio

	February 28, 2022			August 31, 2021			February 28, 2022			August 31, 2021

Operations:
Net investment income	$	123,591		$	1,034,618		$	13,222		$	24,474

Net realized gain		3,959			2,613			18			552

Change in net unrealized appreciation (depreciation)		(771,504	)		(496,709	)		3,071			(2,800	)

Net increase (decrease) in net assets resulting from operations		(643,954	)		540,522			16,311			22,226


Distributions to shareholders from distributable earnings:
Institutional Class		(123,275	)		(1,033,839	)		(13,153	)		(24,275	)

Private Investment Class		(146	)		(318	)		(29	)		(92	)

Personal Investment Class		(2	)		(4	)		(6	)		(31	)

Cash Management Class		(133	)		(359	)		(25	)		(52	)

Reserve Class		(12	)		(29	)		(5	)		(11	)

Resource Class		(15	)		(40	)		(2	)		(9	)

Corporate Class		(2	)		(13	)		(2	)		(4	)

CAVU Securities Class		(6	)		(16	)		-			-

Total distributions from distributable earnings		(123,591	)		(1,034,618	)		(13,222	)		(24,474	)


Share transactions-net:
Institutional Class		(150,618,800	)		(201,574,311	)		39,548,244			(99,033,118	)

Private Investment Class		(5,137	)		(648,893	)		(131,663	)		(671,036	)

Personal Investment Class		-			-			4			(302,491	)

Cash Management Class		(535,901	)		(24,434	)		(67,764	)		(7,793	)

Reserve Class		(4,019	)		(62,582	)		4			(18,402	)

Resource Class		(114,813	)		(3,337	)		-			(122,205	)

Corporate Class		1			(15,522	)		1			4

CAVU Securities Class		-			100,002			-			-

Net increase (decrease) in net assets resulting from share transactions		(151,278,669	)		(202,229,077	)		39,348,826			(100,155,041	)

Net increase (decrease) in net assets		(152,046,214	)		(202,723,173	)		39,351,915			(100,157,289	)


Net assets:
Beginning of period		2,362,888,735			2,565,611,908			223,020,346			323,177,635

End of period	$	2,210,842,521		$	2,362,888,735		$	262,372,261		$	223,020,346

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

31 Short-Term Investments Trust

Statements of Changes in Net Assets–(continued)

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Treasury Portfolio						Invesco Government & Agency Portfolio
	February 28, 2022			August 31, 2021			February 28, 2022			August 31, 2021

Operations:
Net investment income	$	1,130,492		$	2,248,785		$	7,064,766		$	9,964,680

Net realized gain		337,662			30,818			26,979			542,485

Net increase in net assets resulting from operations		1,468,154			2,279,603			7,091,745			10,507,165


Distributions to shareholders from distributable earnings:
Institutional Class		(945,945	)		(2,005,555	)		(6,302,258	)		(9,402,663	)

Private Investment Class		(14,688	)		(35,458	)		(70,237	)		(120,583	)

Personal Investment Class		(16,136	)		(28,813	)		(1,412	)		(2,025	)

Cash Management Class		(24,596	)		(42,921	)		(116,654	)		(128,425	)

Reserve Class		(62,399	)		(62,101	)		(66,860	)		(105,814	)

Resource Class		(3,065	)		(18,705	)		(16,225	)		(32,727	)

Corporate Class		(13,608	)		(41,758	)		(111,510	)		(52,287	)

CAVU Securities Class		(50,055	)		(13,474	)		(379,610	)		(120,156	)

Total distributions from distributable earnings		(1,130,492	)		(2,248,785	)		(7,064,766	)		(9,964,680	)


Share transactions-net:
Institutional Class		1,148,575,944			(2,122,806,791	)		4,500,540,880			19,204,558,855

Private Investment Class		9,041,045			(118,976,592	)		56,459,453			(76,121,055	)

Personal Investment Class		114,699,804			(16,713,545	)		6,356,607			(4,169,839	)

Cash Management Class		24,738,287			80,255,547			208,470,000			316,471,282

Reserve Class		810,639,856			286,064,751			129,590,895			7,054,623

Resource Class		(14,916,921	)		(582,467,587	)		16,126,918			(25,248,184	)

Corporate Class		13,096,491			(867,085,822	)		(63,819,670	)		1,050,827,823

CAVU Securities Class		(35,495,020	)		547,040,941			2,464,408,750			1,441,849,681

Net increase (decrease) in net assets resulting from share transactions		2,070,379,486			(2,794,689,098	)		7,318,133,833			21,915,223,186

Net increase (decrease) in net assets		2,070,717,148			(2,794,658,280	)		7,318,160,812			21,915,765,671


Net assets:
Beginning of period		19,848,831,125			22,643,489,405			53,777,842,859			31,862,077,188

End of period	$	21,919,548,273		$	19,848,831,125		$	61,096,003,671		$	53,777,842,859

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

32 Short-Term Investments Trust

Statements of Changes in Net Assets–(continued)

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Treasury Obligations Portfolio						Invesco Tax-Free Cash Reserve Portfolio
	February 28, 2022			August 31, 2021			February 28, 2022			August 31, 2021

Operations:
Net investment income	$	54,469		$	133,186		$	7,984		$	17,194

Net realized gain (loss)		(17,701	)		47,304			-			-

Net increase in net assets resulting from operations		36,768			180,490			7,984			17,194


Distributions to shareholders from distributable earnings:
Institutional Class		(49,822	)		(123,225	)		(6,227	)		(12,978	)

Private Investment Class		(735	)		(1,559	)		(554	)		(1,039	)

Personal Investment Class		(342	)		(128	)		(58	)		(195	)

Cash Management Class		(9	)		(29	)		(226	)		(490	)

Reserve Class		(3,367	)		(7,454	)		(841	)		(2,280	)

Resource Class		(6	)		(17	)		(76	)		(208	)

Corporate Class		(188	)		(774	)		(2	)		(4	)

Total distributions from distributable earnings		(54,469	)		(133,186	)		(7,984	)		(17,194	)


Share transactions-net:
Institutional Class		35,131,360			(306,942,642	)		17,389,193			(32,730,801	)

Private Investment Class		(941,007	)		220,502			2,145,705			(580,210	)

Personal Investment Class		6,265,217			3,070,903			(343,131	)		(1,906,614	)

Cash Management Class		(174,584	)		(87,640	)		(394,386	)		(893,331	)

Reserve Class		16,504,842			19,907,010			(795,898	)		(10,596,705	)

Resource Class		5			(51,953	)		70			(1,527,247	)

Corporate Class		(1,699,796	)		(5,409,097	)		-			-

Net increase (decrease) in net assets resulting from share transactions		55,086,037			(289,292,917	)		18,001,553			(48,234,908	)

Net increase (decrease) in net assets		55,068,336			(289,245,613	)		18,001,553			(48,234,908	)


Net assets:
Beginning of period		1,161,648,191			1,450,893,804			151,808,219			200,043,127

End of period	$	1,216,716,527		$	1,161,648,191		$	169,809,772		$	151,808,219

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

33 Short-Term Investments Trust

Financial Highlights

(Unaudited)

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

Private Investment Class


	Net asset value, beginning of period			Net investment income^(a)			Net gains (losses) on securities (both realized and unrealized)				Total from investment operations				Dividends from net investment income				Distributions from net realized gains				Total distributions				Net asset value, end of period			Total return^(b)			Net assets, end of period (000’s omitted)			Ratio of expenses to average net assets with fee waivers and/or expense reimbursements			Ratio of expenses to average net assets without fee waivers and/ or expense reimbursements			Ratio of net investment income to average net assets
Invesco Liquid Assets Portfolio
Six months ended 02/28/22		$	1.0004		$	0.0001		$	(0.0004	)		$	(0.0003	)		$	(0.0001	)		$	-			$	(0.0001	)		$	1.0000		(0.03	)%		$	2,886		0.17	%^(c)		0.52	%^(c)		0.01	%^(c)
Year ended 08/31/21			1.0006			0.0001			(0.0002	)			(0.0001	)			(0.0001	)			-				(0.0001	)			1.0004		(0.01	)			2,892		0.21			0.52			0.01
Year ended 08/31/20			1.0004			0.0098			(0.0006	)			0.0092				(0.0090	)			-				(0.0090	)			1.0006		0.92				3,542		0.46			0.52			0.98
Year ended 08/31/19			1.0004			0.0207			(0.0000	)			0.0207				(0.0207	)			-				(0.0207	)			1.0004		2.09				4,718		0.48			0.52			2.07
Year ended 08/31/18			1.0002			0.0143			(0.0011	)			0.0132				(0.0130	)			-				(0.0130	)			1.0004		1.33				5,863		0.48			0.53			1.43
Year ended 08/31/17			1.00			0.0022			0.0035				0.0057				(0.0050	)			(0.0005	)			(0.0055	)			1.0002		0.54				6,982		0.47			0.56			0.22
Invesco STIC Prime Portfolio
Six months ended 02/28/22			1.0000			0.0001			0.0000				0.0001				(0.0001	)			-				(0.0001	)			1.0000		0.01				474		0.12	^(c)		0.60	^(c)		0.01	^(c)
Year ended 08/31/21			1.0000			0.0001			(0.0000	)			0.0001				(0.0001	)			-				(0.0001	)			1.0000		0.01				605		0.13			0.60			0.01
Year ended 08/31/20			1.0001			0.0093			(0.0012	)			0.0081				(0.0082	)			-				(0.0082	)			1.0000		0.82				1,276		0.41			0.56			0.93
Year ended 08/31/19			1.0001			0.0196			0.0001				0.0197				(0.0197	)			-				(0.0197	)			1.0001		1.99				1,348		0.48			0.55			1.96
Year ended 08/31/18			1.0000			0.0125			(0.0002	)			0.0123				(0.0122	)			-				(0.0122	)			1.0001		1.24				1,590		0.48			0.57			1.25
Year ended 08/31/17			1.00			0.0041			0.0002				0.0043				(0.0043	)			-				(0.0043	)			1.0000		0.43				1,845		0.39			0.57			0.41
Invesco Treasury Portfolio
Six months ended 02/28/22			1.00			0.00			0.00				0.00				(0.00	)			-				(0.00	)			1.00		0.01				312,889		0.07	^(c)		0.51	^(c)		0.01	^(c)
Year ended 08/31/21			1.00			0.00			0.00				0.00				(0.00	)			-				(0.00	)			1.00		0.01				303,848		0.10			0.51			0.01
Year ended 08/31/20			1.00			0.01			0.00				0.01				(0.01	)			(0.00	)			(0.01	)			1.00		0.70				422,828		0.39			0.51			0.65
Year ended 08/31/19			1.00			0.02			0.00				0.02				(0.02	)			-				(0.02	)			1.00		1.90				506,027		0.48			0.51			1.88
Year ended 08/31/18			1.00			0.01			0.00				0.01				(0.01	)			-				(0.01	)			1.00		1.07				517,728		0.48			0.50			1.07
Year ended 08/31/17			1.00			0.00			0.00				0.00				(0.00	)			-				(0.00	)			1.00		0.26				574,808		0.43			0.50			0.27
Invesco Government & Agency Portfolio
Six months ended 02/28/22			1.00			0.00			0.00				0.00				(0.00	)			-				(0.00	)			1.00		0.01				562,430		0.06	^(c)		0.46	^(c)		0.02	^(c)
Year ended 08/31/21			1.00			0.00			0.00				0.00				(0.00	)			-				(0.00	)			1.00		0.02				505,970		0.08			0.46			0.02
Year ended 08/31/20			1.00			0.01			(0.00	)			0.01				(0.01	)			(0.00	)			(0.01	)			1.00		0.72				582,082		0.38			0.45			0.62
Year ended 08/31/19			1.00			0.02			0.00				0.02				(0.02	)			-				(0.02	)			1.00		1.92				532,585		0.46			0.46			1.90
Year ended 08/31/18			1.00			0.01			0.00				0.01				(0.01	)			-				(0.01	)			1.00		1.08				425,748		0.45			0.45			1.05
Year ended 08/31/17			1.00			0.00			(0.00	)			0.00				(0.00	)			-				(0.00	)			1.00		0.30				510,489		0.41			0.45			0.32
Invesco Treasury Obligations Portfolio
Six months ended 02/28/22			1.00			0.00			(0.00	)			0.00				(0.00	)			-				(0.00	)			1.00		0.01				13,704		0.08	^(c)		0.47	^(c)		0.01	^(c)
Year ended 08/31/21			1.00			0.00			0.00				0.00				(0.00	)			-				(0.00	)			1.00		0.01				14,645		0.10			0.46			0.01
Year ended 08/31/20			1.00			0.01			(0.00	)			0.01				(0.01	)			-				(0.01	)			1.00		0.74				14,424		0.36			0.45			0.66
Year ended 08/31/19			1.00			0.02			0.00				0.02				(0.02	)			-				(0.02	)			1.00		1.92				9,483		0.43			0.46			1.90
Year ended 08/31/18			1.00			0.01			0.00				0.01				(0.01	)			-				(0.01	)			1.00		1.10				6,084		0.43			0.46			1.09
Year ended 08/31/17			1.00			0.00			(0.00	)			0.00				(0.00	)			-				(0.00	)			1.00		0.26				3,224		0.34			0.47			0.32
Invesco Tax-Free Cash Reserve Portfolio
Six months ended 02/28/22			1.00			0.00			-				0.00				(0.00	)			-				(0.00	)			1.00		0.01				11,701		0.07	^(c)		0.65	^(c)		0.01	^(c)
Year ended 08/31/21			1.00			0.00			-				0.00				(0.00	)			-				(0.00	)			1.00		0.01				9,555		0.07			0.65			0.01
Year ended 08/31/20			1.00			0.01			-				0.01				(0.01	)			-				(0.01	)			1.00		0.60				10,135		0.38			0.59			0.57
Year ended 08/31/19			1.00			0.01			-				0.01				(0.01	)			-				(0.01	)			1.00		1.13				20,489		0.45			0.60			1.13
Year ended 08/31/18			1.00			0.01			(0.00	)			0.01				(0.01	)			-				(0.01	)			1.00		0.75				28,061		0.45			0.63			0.76
Year ended 08/31/17			1.00			0.00			(0.00	)			0.00				(0.00	)			-				(0.00	)			1.00		0.36				27,352		0.41			0.62			0.35

^(a)	Calculated using average shares outstanding.

^(b)	Includes adjustments in accordance with accounting principles generally accepted in the United States of America and is not annualized for periods less than one year.

^(c)	Annualized.

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

34 Short-Term Investments Trust

Notes to Financial Statements

February 28, 2022

(Unaudited)

NOTE 1–Significant Accounting Policies

Invesco Liquid Assets Portfolio determines its NAV per share multiple times each day.

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

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.

B.	Securities Transactions and Investment Income — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is

35 Short-Term Investments Trust

recorded on the accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.

D.	Distributions - It is the policy of the Funds to declare dividends from net investment income daily and pay dividends on the first business day of the following month. Each Fund generally distributes net realized capital gain (including net short-term capital gain), if any, annually.

36 Short-Term Investments Trust

There is some risk that a portion or all of the interest received from certain tax-free municipal securities could become taxable as a result of determinations by the Internal Revenue Service.

NOTE 2–Advisory Fees and Other Fees Paid to Affiliates


	First $250 million	Next $250 million	Over $500 million
Invesco Liquid Assets Portfolio	0.15%	0.15%	0.15%
Invesco STIC Prime Portfolio	0.15%	0.15%	0.15%
Invesco Treasury Portfolio	0.15%	0.15%	0.15%
Invesco Government & Agency Portfolio	0.10%	0.10%	0.10%
Invesco Treasury Obligations Portfolio	0.20%	0.15%	0.10%
Invesco Tax-Free Cash Reserve Portfolio	0.20%	0.20%	0.20%

For the six months ended February 28, 2022, the management fee incurred for each Fund was equivalent to the annual effective rate of each Fund’s average daily net assets, as shown below:


Invesco Liquid Assets Portfolio	0.15	%
Invesco STIC Prime Portfolio	0.15	%
Invesco Treasury Portfolio	0.15	%
Invesco Government & Agency Portfolio	0.10	%
Invesco Treasury Obligations Portfolio	0.14	%
Invesco Tax-Free Cash Reserve Portfolio	0.20	%

37 Short-Term Investments Trust


	Institutional Class	Private Investment Class	Personal Investment Class	Cash Management Class	Reserve Class	Resource Class	Corporate Class	CAVU Securities Class

Invesco Liquid Assets Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.38%	0.21%		0.18%

Invesco STIC Prime Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.34%	0.21%		–

Invesco Treasury Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.34%	0.21%		0.18%

Invesco Government & Agency Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.34%	0.21%		0.18%

Invesco Treasury Obligations Portfolio	0.18%	0.43%	0.73%	0.26%	1.05%	0.34%	0.21%		–

Invesco Tax-Free Cash Reserve Portfolio	0.20%	0.45%	0.75%	0.28%	1.07%	0.36%	0.23%		–

For the six months ended February 28, 2022, the Adviser waived advisory fees and/or reimbursed Fund expenses, as shown below:


	Expense Limitation

Invesco Liquid Assets Portfolio	$	442,476

Invesco STIC Prime Portfolio		151,463

Invesco Treasury Portfolio		3,703,090

Invesco Government & Agency Portfolio		-

Invesco Treasury Obligations Portfolio		216,359

Invesco Tax-Free Cash Reserve Portfolio		156,166

Voluntary fee waivers for the six months ended February 28, 2022 are shown below:


	Fund Level		Private Investment Class		Personal Investment Class		Cash Management Class		Reserve Class		Resource Class		Corporate Class

Invesco Liquid Assets Portfolio	$	98,537	$	4,270	$	27	$	1,014	$	923	$	290	$	3

Invesco STIC Prime Portfolio		82,159		832		253		195		375		-		4

Invesco Treasury Portfolio		11,644,572		431,096		868,352		192,510		5,311,944		47,971		39,942

Invesco Government & Agency Portfolio		27,703,436		812,520		29,939		359,090		2,243,978		100,018		127,960

Invesco Treasury Obligations Portfolio		536,300		17,924		18,350		60		286,375		78		544

Invesco Tax-Free Cash Reserve Portfolio		99,306		13,526		3,039		1,765		71,520		1,171		2

38 Short-Term Investments Trust


	Private Investment Class	Personal Investment Class	Cash Management Class	Reserve Class	Resource Class	Corporate Class

Invesco Liquid Assets Portfolio	0.30%	0.55%	0.08%	0.87%	0.20%	0.03%

Invesco STIC Prime Portfolio	0.30%	0.55%	0.08%	0.87%	0.16%	0.03%

Invesco Treasury Portfolio	0.30%	0.55%	0.08%	0.87%	0.16%	0.03%

Invesco Government & Agency Portfolio	0.30%	0.55%	0.08%	0.87%	0.16%	0.03%

Invesco Treasury Obligations Portfolio	0.25%	0.55%	0.08%	0.87%	0.16%	0.03%

Invesco Tax-Free Cash Reserve Portfolio	0.25%	0.55%	0.08%	0.87%	0.16%	0.03%

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

NOTE 3–Additional Valuation Information

Level 1 –

Prices are determined using quoted prices in an active market for identical assets.

Level 2 –

Level 3 –

NOTE 4–Security Transactions with Affiliated Funds


	Securities Purchases		Securities Sales		Net Realized Gains

Invesco Liquid Assets Portfolio		$22,055,624		$16,400,013	$-

Invesco STIC Prime Portfolio		8,610,216		8,200,189	-

Invesco Tax-Free Cash Reserve Portfolio		91,949,282		79,264,665	-

NOTE 5–Trustees’ and Officers’ Fees and Benefits

Trustees’ and Officers’ Fees and Benefits include amounts accrued by each Fund to pay remuneration to certain Trustees and Officers of such Fund. Trustees have the option to defer compensation payable by the Funds, and Trustees’ and Officers’ Fees and Benefits also include amounts accrued by each Fund to fund such deferred compensation amounts. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested. Finally, certain current Trustees were eligible to participate in a retirement plan that provided for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Funds may have certain former Trustees who also participate in a retirement plan and receive benefits under such plan. Trustees’ and Officers’ Fees and Benefits include amounts accrued by each Fund to fund such retirement benefits. Obligations under the deferred compensation and retirement plans represent unsecured claims against the general assets of the Funds.

39 Short-Term Investments Trust

NOTE 6–Cash Balances

The Funds are permitted to temporarily overdraft or leave balances in their accounts with BNY Mellon, the custodian bank. Such balances, if any at period-end, are shown in the Statements of Assets and Liabilities under the payable caption Amount due custodian. To compensate BNY Mellon or the Funds for such activity, the Funds may either (1) pay to or receive from BNY Mellon compensation at a rate agreed upon by BNY Mellon and Invesco, not to exceed the contractually agreed upon rate; or (2) leave funds or overdraft funds as a compensating balance in the account so BNY Mellon or the Funds can be compensated for use of funds.

NOTE 7–Tax Information

The Funds had a capital loss carryforward as of August 31, 2021, as follows:


Fund	Not Subject to Expiration		Total*

Invesco Liquid Assets Portfolio		$13,010	$	13,010

Invesco Treasury Obligations Portfolio		13,241		13,241

Invesco Tax-Free Cash Reserve Portfolio		19,092		19,092

*	Capital loss carryforwards are 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 cost and the net unrealized appreciation (depreciation) of investments for tax purposes are as follows:


	At February 28, 2022
	Federal Tax Cost*		Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
Invesco Liquid Assets Portfolio		$2,241,779,487		$23,265		$(631,849	)		$(608,584	)
Invesco STIC Prime Portfolio		276,300,889		2,906		(69	)		2,837
Invesco Treasury Portfolio		22,808,970,667		-		(32,012	)		(32,012	)
Invesco Government & Agency Portfolio		63,945,609,329		-		(1,167	)		(1,167	)
Invesco Treasury Obligations Portfolio		1,385,630,403		-		(22,651	)		(22,651	)

NOTE 9–Share Information

Invesco Liquid Assets Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)				Year ended August 31, 2021
	Shares		Amount		Shares		Amount

Sold:
Institutional Class		7,928,057,646	$	7,929,890,259		17,486,805,323		$17,494,025,296

Private Investment Class		1		1		371,715		371,900

Cash Management Class		-		-		6,058		6,061

Reserve Class		7,065		7,068		79,579		79,611

Corporate Class		-		-		1,001		1,001

CAVU Securities Class^(b)		-		-		99,962		100,002

40 Short-Term Investments Trust

NOTE 9–Share Information–(continued)


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Issued as reinvestment of dividends:
Institutional Class		3,067			$3,067			182,613			$182,698

Private Investment Class		92			92			207			207

Cash Management Class		133			133			359			359

Reserve Class		11			11			28			28

Resource Class		15			15			37			37

Corporate Class		2			2			13			13


Reacquired:
Institutional Class		(8,078,548,249	)		(8,080,512,126	)		(17,688,475,913	)		(17,695,782,305	)

Private Investment Class		(5,228	)		(5,230	)		(1,020,552	)		(1,021,000	)

Cash Management Class		(535,874	)		(536,034	)		(30,840	)		(30,854	)

Reserve Class		(11,095	)		(11,098	)		(142,165	)		(142,221	)

Resource Class		(114,793	)		(114,828	)		(3,373	)		(3,374	)

Corporate Class		(1	)		(1	)		(16,529	)		(16,536	)

Net increase (decrease) in share activity		(151,147,208	)		$ (151,278,669	)		(202,142,477	)		$ (202,229,077	)

^(a)	59% of the outstanding shares of the Fund are owned by the Adviser or an affiliate of the Adviser.

^(b)	Commencement date of December 18, 2020.

41 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco STIC Prime Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		705,814,165			$ 705,814,165			1,439,605,312			$ 1,439,605,312

Private Investment Class		9,001			9,001			17,500			17,500

Personal Investment Class		23			23			-			-

Cash Management Class		-			-			7,472			7,472

Reserve Class		1			1			4			4

Corporate Class		-			-			1,000			1,000


Issued as reinvestment of dividends:
Institutional Class		6,536			6,536			14,063			14,063

Private Investment Class		29			29			91			91

Personal Investment Class		4			4			27			27

Cash Management Class		7			7			15			15

Reserve Class		4			4			7			7

Resource Class		-			-			7			7

Corporate Class		1			1			4			4


Reacquired:
Institutional Class		(666,272,457	)		(666,272,457	)		(1,538,652,493	)		(1,538,652,493	)

Private Investment Class		(140,693	)		(140,693	)		(688,627	)		(688,627	)

Personal Investment Class		(23	)		(23	)		(302,518	)		(302,518	)

Cash Management Class		(67,771	)		(67,771	)		(15,280	)		(15,280	)

Reserve Class		(1	)		(1	)		(18,413	)		(18,413	)

Resource Class		-			-			(122,212	)		(122,212	)

Corporate Class		-			-			(1,000	)		(1,000	)

Net increase (decrease) in share activity		39,348,826			$ 39,348,826			(100,155,041	)		$ (100,155,041	)

(a)

42 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Treasury Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		63,116,124,261		$	63,116,124,261			209,389,908,080		$	209,389,908,080

Private Investment Class		436,581,760			436,581,760			564,708,648			564,708,648

Personal Investment Class		1,082,049,227			1,082,049,227			1,460,181,973			1,460,181,973

Cash Management Class		868,464,400			868,464,400			834,202,437			834,202,437

Reserve Class		1,633,245,975			1,633,245,975			2,267,218,779			2,267,218,779

Resource Class		96,775,732			96,775,732			271,542,723			271,542,723

Corporate Class		1,534,950,883			1,534,950,883			4,259,846,179			4,259,846,179

CAVU Securities Class^(b)		6,259,349,230			6,259,349,230			1,619,862,326			1,619,862,326


Issued as reinvestment of dividends:
Institutional Class		232,641			232,641			497,496			497,496

Private Investment Class		5,404			5,404			11,961			11,961

Personal Investment Class		14,389			14,389			28,558			28,558

Cash Management Class		23,399			23,399			39,490			39,490

Reserve Class		55,622			55,622			56,643			56,643

Resource Class		3,065			3,065			4,380			4,380

Corporate Class		5,818			5,818			26,745			26,745

CAVU Securities Class		175			175			-			-


Reacquired:
Institutional Class		(61,967,780,958	)		(61,967,780,958	)		(211,513,212,367	)		(211,513,212,367	)

Private Investment Class		(427,546,119	)		(427,546,119	)		(683,697,201	)		(683,697,201	)

Personal Investment Class		(967,363,812	)		(967,363,812	)		(1,476,924,076	)		(1,476,924,076	)

Cash Management Class		(843,749,512	)		(843,749,512	)		(753,986,380	)		(753,986,380	)

Reserve Class		(822,661,741	)		(822,661,741	)		(1,981,210,671	)		(1,981,210,671	)

Resource Class		(111,695,718	)		(111,695,718	)		(854,014,690	)		(854,014,690	)

Corporate Class		(1,521,860,210	)		(1,521,860,210	)		(5,126,958,746	)		(5,126,958,746	)

CAVU Securities Class		(6,294,844,425	)		(6,294,844,425	)		(1,072,821,385	)		(1,072,821,385	)

Net increase (decrease) in share activity		2,070,379,486		$	2,070,379,486			(2,794,689,098	)	$	(2,794,689,098	)

^(a)

^(b)	Commencement date of December 18, 2020.

43 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Government & Agency Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		162,483,965,647		$	162,483,965,647			287,998,117,369		$	287,998,117,369

Private Investment Class		739,731,866			739,731,866			1,566,476,737			1,566,476,737

Personal Investment Class		16,597,262			16,597,262			8,460,874			8,460,874

Cash Management Class		502,774,048			502,774,048			1,020,500,616			1,020,500,616

Reserve Class		1,286,100,892			1,286,100,892			1,184,114,517			1,184,114,517

Resource Class		575,440,585			575,440,585			1,448,949,173			1,448,949,173

Corporate Class		4,225,553,621			4,225,553,621			2,472,495,311			2,472,495,311

CAVU Securities Class^(b)		24,758,726,005			24,758,726,005			11,182,358,336			11,182,358,336


Issued as reinvestment of dividends:
Institutional Class		1,500,984			1,500,984			2,364,199			2,364,199

Private Investment Class		42,484			42,484			77,027			77,027

Personal Investment Class		1,075			1,075			1,664			1,664

Cash Management Class		42,314			42,314			62,947			62,947

Reserve Class		62,697			62,697			96,732			96,732

Resource Class		13,444			13,444			22,306			22,306

Corporate Class		99,960			99,960			20,996			20,996

CAVU Securities Class		231,219			231,219			68,987			68,987


Reacquired:
Institutional Class		(157,984,925,751	)		(157,984,925,751	)		(268,795,922,713	)		(268,795,922,713	)

Private Investment Class		(683,314,897	)		(683,314,897	)		(1,642,674,819	)		(1,642,674,819	)

Personal Investment Class		(10,241,730	)		(10,241,730	)		(12,632,377	)		(12,632,377	)

Cash Management Class		(294,346,362	)		(294,346,362	)		(704,092,281	)		(704,092,281	)

Reserve Class		(1,156,572,694	)		(1,156,572,694	)		(1,177,156,626	)		(1,177,156,626	)

Resource Class		(559,327,111	)		(559,327,111	)		(1,474,219,663	)		(1,474,219,663	)

Corporate Class		(4,289,473,251	)		(4,289,473,251	)		(1,421,688,484	)		(1,421,688,484	)

CAVU Securities Class		(22,294,548,474	)		(22,294,548,474	)		(9,740,577,642	)		(9,740,577,642	)

Net increase in share activity		7,318,133,833		$	7,318,133,833			21,915,223,186		$	21,915,223,186

^(a)

^(b)	Commencement date of December 18, 2020.

44 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Treasury Obligations Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		775,170,129			$ 775,170,129			1,758,486,047			$ 1,758,486,047

Private Investment Class		714,387			714,387			8,037,650			8,037,650

Personal Investment Class		7,077,364			7,077,364			6,051,798			6,051,798

Reserve Class		114,819,967			114,819,967			332,356,357			332,356,357

Resource Class		5			5			52,034			52,034

Corporate Class		-			-			129			129


Issued as reinvestment of dividends:
Institutional Class		11,379			11,379			69,137			69,137

Private Investment Class		735			735			1,543			1,543

Personal Investment Class		280			280			102			102

Cash Management Class		8			8			27			27

Reserve Class		3,241			3,241			7,165			7,165

Resource Class		-			-			3			3

Corporate Class		188			188			774			774


Reacquired:
Institutional Class		(740,050,148	)		(740,050,148	)		(2,065,497,826	)		(2,065,497,826	)

Private Investment Class		(1,656,129	)		(1,656,129	)		(7,818,691	)		(7,818,691	)

Personal Investment Class		(812,427	)		(812,427	)		(2,980,997	)		(2,980,997	)

Cash Management Class		(174,592	)		(174,592	)		(87,667	)		(87,667	)

Reserve Class		(98,318,366	)		(98,318,366	)		(312,456,512	)		(312,456,512	)

Resource Class		-			-			(103,990	)		(103,990	)

Corporate Class		(1,699,984	)		(1,699,984	)		(5,410,000	)		(5,410,000	)

Net increase (decrease) in share activity		55,086,037			$ 55,086,037			(289,292,917	)		$ (289,292,917	)

^(a)

In addition, 55% of the outstanding shares of the Fund are owned by the Adviser or an affiliate of the Adviser.

45 Short-Term Investments Trust

NOTE 9—Share Information–(continued)

Invesco Tax-Free Cash Reserve Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		91,534,335			$ 91,534,335			147,021,640			$ 147,021,640

Private Investment Class		4,227,638			4,227,638			2,274,008			2,274,008

Personal Investment Class		2,540,401			2,540,401			7,107,975			7,107,975

Cash Management Class		2,600,250			2,600,250			6,420,817			6,420,817

Reserve Class		21,321,081			21,321,081			28,135,345			28,135,345

Resource Class		-			-			394,392			394,392


Issued as reinvestment of dividends:
Institutional Class		3,153			3,153			7,749			7,749

Private Investment Class		437			437			832			832

Personal Investment Class		57			57			195			195

Cash Management Class		82			82			230			230

Reserve Class		836			836			2,280			2,280

Resource Class		70			70			205			205


Reacquired:
Institutional Class		(74,148,295	)		(74,148,295	)		(179,760,190	)		(179,760,190	)

Private Investment Class		(2,082,370	)		(2,082,370	)		(2,855,050	)		(2,855,050	)

Personal Investment Class		(2,883,589	)		(2,883,589	)		(9,014,784	)		(9,014,784	)

Cash Management Class		(2,994,718	)		(2,994,718	)		(7,314,378	)		(7,314,378	)

Reserve Class		(22,117,815	)		(22,117,815	)		(38,734,330	)		(38,734,330	)

Resource Class		-			-			(1,921,844	)		(1,921,844	)

Net increase (decrease) in share activity		18,001,553			$ 18,001,553			(48,234,908	)		$ (48,234,908	)

^(a)

46 Short-Term Investments Trust

Calculating your ongoing Fund expenses

Example

As a shareholder in the Private Investment Class, you incur ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period September 1, 2021 through February 28, 2022.

Actual expenses

Hypothetical example for comparison purposes


				HYPOTHETICAL
		ACTUAL		(5% annual return before expenses)
Private Investment Class	Beginning Account Value (09/01/21)	Ending Account Value (02/28/22)¹	Expenses Paid During Period²	Ending Account Value (02/28/22)	Expenses Paid During Period²	Annualized Expense Ratio
Invesco Liquid Assets Portfolio	$1,000.00	$999.70	$0.84	$1,023.95	$0.85	0.17%
Invesco STIC Prime Portfolio	1,000.00	1,000.10	0.60	1,024.20	0.60	0.12
Invesco Treasury Portfolio	1,000.00	1,000.10	0.35	1,024.45	0.35	0.07
Invesco Government & Agency Portfolio	1,000.00	1,000.10	0.30	1,024.50	0.30	0.06
Invesco Treasury Obligations Portfolio	1,000.00	1,000.10	0.40	1,024.40	0.40	0.08
Invesco Tax-Free Cash Reserve Portfolio	1,000.00	1,000.10	0.35	1,024.45	0.35	0.07

²	Expenses are equal to each Fund’s annualized expense ratio as indicated above multiplied by the average account value over the period, multiplied by 181/365 to reflect the most recent fiscal half year.

47 Short-Term Investments Trust

Invesco mailing information

Send general correspondence to Invesco Investment Services, Inc., P.O. Box 219078, Kansas City, MO 64121-9078.

Important notice regarding delivery of security holder documents

Fund holdings and proxy voting information

LOGO


SEC file numbers: 811-02729 and 002-58287		Invesco Distributors, Inc.		CM-STIT-SAR-5

LOGO



Semiannual Report to Shareholders		February 28, 2022

Personal Investment Class
Short-Term Investments Trust (STIT)
Invesco Liquid Assets Portfolio
Invesco STIC Prime Portfolio
Invesco Treasury Portfolio
Invesco Government & Agency Portfolio
Invesco Treasury Obligations Portfolio
Invesco Tax-Free Cash Reserve Portfolio


2		Fund Data
3		Schedules of Investments
28		Financial Statements
34		Financial Highlights
35		Notes to Financial Statements
47		Fund Expenses

Unless otherwise stated, information presented in this report is as of February 28, 2022, and is based on total net assets. Unless otherwise stated, all data provided by Invesco.

NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE

Fund Data

Personal Investment Class data as of 2/28/22

FUND

WEIGHTED

TOTAL

AVERAGE

NET

MATURITY

LIFE

ASSETS

Range

During

Reporting

Period

End

Invesco Liquid Assets¹

23 - 52 days

23 days

52 days

$10.2

thousand

Invesco STIC Prime¹

3 - 13 days

6 days

7 days

92.9

thousand

Invesco Treasury²

45 - 57 days

51 days

103 days

379.8

million

Invesco Government & Agency²

32 - 53 days

47 days

100 days

15.7

million

Invesco Treasury Obligations²

31 - 55 days

38 days

83 days

10.1

million

Invesco Tax-Free Cash Reserve³

9 - 15 days

11 days

1.3

million

2 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio


					Principal
	Interest		Maturity		Amount
	Rate		Date		(000)		Value
Commercial Paper-36.48%^(a)
Asset-Backed Securities - Fully Supported-2.71%
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.17%		04/13/2022	$	10,000	$ 9,996,724
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.25%		05/06/2022		50,000	49,960,732
							59,957,456

Asset-Backed Securities - Fully Supported Bank-5.88%
Anglesea Funding LLC (Multi - CEP’s)^(b)(c)		0.13%		03/03/2022		10,000	9,999,921
Anglesea Funding PLC (Multi - CEP’s) (OBFR + 0.10%)^(b)(c)(d)		0.17%		05/20/2022		25,000	25,003,750
Bedford Row Funding Corp. (CEP - Royal Bank of Canada) (1 mo. FEDL + 0.12%)^(b)(c)(d)		0.20%		09/01/2022		20,000	19,998,483
Ebury Finance LLC (Multi - CEP’s), (SOFR + 0.15%)^(b)(c)(d)		0.20%		05/23/2022		50,000	50,000,583
Versailles Commercial Paper LLC (CEP - Natixis S.A.) (SOFR + 0.16%)^(b)(c)(d)		0.21%		08/02/2022		25,000	25,000,098
							130,002,835

Diversified Banks-21.08%
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(b)(c)(d)		0.25%		05/16/2022		30,000	30,000,937
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(b)(c)(d)		0.25%		05/20/2022		25,000	25,000,822
ANZ New Zealand (Int’l) Ltd.^(b)(c)		0.17%		04/04/2022		23,700	23,695,783
ANZ New Zealand (Int’l) Ltd.^(b)(c)		0.34%		10/03/2022		30,000	29,831,463
Barclays Bank PLC (SOFR + 0.16%)^(b)(c)(d)		0.21%		07/01/2022		60,000	60,003,023
Industrial & Commercial Bank of China Ltd.^(b)(c)		0.15%		03/15/2022		50,000	49,997,437
Kookmin Bank^(b)(c)		0.20%		03/17/2022		20,000	19,999,226
Mitsubishi UFJ Trust & Banking Corp.^(b)(c)		0.26%		04/13/2022		15,000	14,995,637
National Australia Bank Ltd. (SOFR + 0.17%)^(b)(c)(d)		0.22%		07/25/2022		50,000	50,003,019
NRW Bank^(b)(c)		0.00%		04/01/2022		30,000	29,986,667
Royal Bank of Canada^(b)(c)		0.20%		06/16/2022		15,000	14,974,125
Svenska Handelsbanken AB^(b)(c)		0.34%		11/03/2022		22,850	22,690,700
Toronto-Dominion Bank (The)^(b)(c)		0.21%		06/22/2022		25,000	24,952,262
Toronto-Dominion Bank (The) (1 mo. FEDL + 0.10%)^(b)(c)(d)		0.18%		07/08/2022		10,000	9,999,109
Toronto-Dominion Bank (The) (1 mo. FEDL + 0.10%)^(b)(c)(d)		0.18%		09/06/2022		10,000	9,997,669
United Overseas Bank Ltd.^(b)(c)		0.25%		06/09/2022		50,000	49,922,146
							466,050,025

Diversified Capital Markets-2.71%
UBS AG^(b)(c)		0.25%		08/18/2022		30,000	29,895,263
UBS AG (SOFR + 0.17%)^(b)(c)(d)		0.22%		09/21/2022		30,000	29,987,712
							59,882,975

Investment Banking & Brokerage-1.35%
Goldman Sachs International^(b)		0.45%		11/15/2022		30,000	29,768,383

Regional Banks-2.30%
ASB Finance Ltd.^(b)(c)		0.25%		03/18/2022		20,920	20,919,216
ASB Finance Ltd.^(b)(c)		0.21%		07/08/2022		30,000	29,931,208
							50,850,424

Specialized Finance-0.45%
Great Bear Funding LLC (OBFR + 0.15%)^(c)(d)		0.22%		07/01/2022		10,000	10,001,500
Total Commercial Paper (Cost $807,086,551)							806,513,598

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

3 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


					Principal
	Interest		Maturity		Amount
	Rate		Date		(000)		Value

Certificates of Deposit-34.73%
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(c)(d)		0.25%		05/11/2022	$	10,000	$ 10,001,239
ANZ New Zealand (Int’l) Ltd.^(c)		0.07%		03/01/2022		55,000	55,000,000
Bank of Montreal^(c)		0.21%		06/24/2022		10,000	9,987,430
Bank of Nova Scotia (The) (SOFR + 0.11%)^(c)(d)		0.16%		04/20/2022		50,000	50,004,956
Canadian Imperial Bank of Commerce^(c)		0.07%		03/01/2022		38,000	38,000,000
Canadian Imperial Bank of Commerce (1 mo. FEDL + 0.10%)^(c)(d)		0.18%		06/08/2022		50,000	49,997,973
Cooperatieve Rabobank U.A.^(c)		0.07%		03/01/2022		105,000	105,000,000
DZ Bank AG Deutsche Zentral-Genossenschaftsbank^(c)		0.06%		03/01/2022		95,000	95,000,000
Goldman Sachs Bank USA (SOFR + 0.21%)^(d)		0.26%		09/16/2022		30,000	29,999,999
Nordea Bank Abp^(c)		0.06%		03/01/2022		95,000	95,000,000
Skandinaviska Enskilda Banken AB^(c)		0.06%		03/01/2022		95,000	95,000,000
Svenska Handelsbanken AB^(c)		0.06%		03/01/2022		75,000	75,000,000
Westpac Banking Corp. (SOFR + 0.13%)^(c)(d)		0.18%		07/15/2022		55,000	54,994,856
Westpac Banking Corp.^(c)		0.44%		11/23/2022		5,000	4,976,872
Total Certificates of Deposit (Cost $767,998,956)							767,963,325

Variable Rate Demand Notes-5.24%^(e)
Credit Enhanced-5.24%
Capital Area Housing Finance Corp. (Cypress Creek at River Apartments); Series 2006, VRD MFH RB (LOC - Citibank N.A.)^(f)(g)		0.23%		10/01/2039		2,400	2,400,000
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(g)		0.19%		06/01/2037		3,055	3,055,000
Jets Stadium Development LLC; Series 2014 A-4B, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)^(b)(c)(g)		0.26%		04/01/2047		9,200	9,199,999
Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank N.A.)^(g)		0.22%		05/01/2037		2,500	2,500,000
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(g)		0.19%		11/15/2046		11,180	11,180,000
Sarasota (County of), FL Public Hospital District (Sarasota Memorial Hospital); Series 2008 B, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(g)		0.20%		07/01/2037		5,420	5,420,000
University of Texas System Board of Regents; Subseries 2016 G-2, VRD RB		0.16%		08/01/2045		82,040	82,040,000
Total Variable Rate Demand Notes (Cost $115,794,999)							115,794,999
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-76.45% (Cost $1,690,880,506)							1,690,271,922

					Repurchase Amount
Repurchase Agreements-24.92%^(h)
BMO Capital Markets Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $100,003,111 (collateralized by U.S government sponsored agency obligations, domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $103,576,455; 0.00% - 8.88%; 04/25/2022 - 06/20/2071)^(c)(i)		0.16%		03/01/2022		27,000,840	27,000,000
BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $150,004,958 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $157,182,535; 0.00% - 8.20%; 02/13/2023 - 12/16/2062)^(c)(i)		0.17%		03/02/2022		15,000,496	15,000,000

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

4 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


	Interest Rate	Maturity Date	Repurchase Amount		Value
BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $25,001,069 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $26,546,588; 0.00% - 10.00%; 12/07/2021 - 12/20/2065)^(c)(i)	0.22%	03/02/2022	$	10,000,428	$ 10,000,000
Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic and foreign non-agency asset-backed securities and domestic non-agency mortgage-backed securities valued at $203,598,357; 1.17% - 7.06%; 10/25/2026 -02/15/2039)^(j)	0.56%	03/01/2022		8,003,451	8,000,000
Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic non-agency asset-backed securities, domestic corporate obligations and domestic non-agency mortgage-backed securities valued at $55,045,612; 1.87% -7.38%; 03/25/2026 - 06/01/2044)^(j)	0.55%	03/01/2022		35,014,963	35,000,000
Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic non-agency mortgage-backed securities valued at $55,143,137; 1.94% -5.80%; 01/25/2030 - 12/15/2038)^(j)	0.54%	03/01/2022		10,004,197	10,000,000
Credit Agricole Corporate & Investment Bank, joint term agreement dated 02/22/2022, aggregate maturing value of $240,006,067 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations, domestic non-agency mortgage-backed securities and U.S. Treasury obligations valued at $246,893,829; 0.00% - 7.75%; 04/07/2022 - 05/01/2079)^(c)(i)	0.13%	03/01/2022		20,000,506	20,000,000
Credit Suisse Securities (USA) LLC, joint term agreement dated 02/23/2022, aggregate maturing value of $90,003,500 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities and domestic and foreign corporate obligations valued at $98,998,378; 0.00% - 15.98%; 04/22/2022 - 09/27/2060)^(c)(i)	0.20%	03/02/2022		25,000,972	25,000,000
Credit Suisse Securities (USA) LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $10,000,095 (collateralized by domestic non-agency mortgage-backed securities valued at $10,500,001; 1.38% - 4.74%; 12/15/2046 - 01/20/2051)^(c)(k)	0.34%	03/01/2022		2,000,019	2,000,000
J.P. Morgan Securities LLC, joint open agreement dated 04/28/2020 (collateralized by domestic and corporate obligations valued at $109,999,955; 0.00% - 10.88%; 04/30/2022 - 11/03/2037)^(j)	0.37%	03/01/2022		65,018,706	65,000,000
J.P. Morgan Securities LLC, joint open agreement dated 09/18/2020 (collateralized by domestic and foreign equity securities valued at $15,753,313; 0.00% - 8.50%; 10/31/2026 - 01/31/2028)^(j)	0.27%	03/01/2022		7,001,470	7,000,000
J.P. Morgan Securities LLC, open agreement dated 11/01/2021 (collateralized by a domestic agency mortgage-backed security and domestic non-agency mortgage-backed securities valued at $15,750,000; 0.22% - 3.36%; 06/15/2031 - 04/27/2065)^(j)	0.43%	03/01/2022		15,005,004	15,000,000
Mitsubishi UFJ Trust & Banking Corp., joint open agreement dated 02/23/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations, domestic and foreign commercial paper and a U.S. Treasury obligation valued at $51,697,846; 0.00% - 8.50%; 03/01/2022 - 01/15/2082)^(c)(j)	0.20%	03/01/2022		25,003,889	25,000,000
Mizuho Securities (USA) LLC, joint open agreement dated 12/30/2021 (collateralized by domestic and foreign equity securities valued at $52,500,215; 0.00%)^(c)(j)	0.22%	03/01/2022		28,000,171	28,000,000
RBC Capital Markets LLC, joint term agreement dated 02/23/2022, aggregate maturing value of $155,005,726 (collateralized by domestic and foreign corporate obligations valued at $170,310,340; 0.00% - 13.00%; 03/15/2022 - 05/15/2097)^(c)(i)	0.19%	03/02/2022		20,000,739	20,000,000
Societe Generale, joint open agreement dated 08/06/2019 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and domestic non-agency mortgage-backed securities valued at $78,729,067; 0.34% -13.00%; 03/15/2022 - 12/15/2072)^(c)(j)	0.25%	03/01/2022		25,000,174	25,000,000
Societe Generale, joint open agreement dated 08/20/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations and a domestic non-agency mortgage-backed security valued at $91,931,202; 0.98% -10.13%; 01/05/2023 - 03/11/2061)^(c)(j)	0.18%	03/01/2022		65,000,325	65,000,000

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

5 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


	Interest Rate	Maturity Date	Repurchase Amount		Value
Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)	0.06%	03/01/2022	$	148,899,229	$	148,898,981

Total Repurchase Agreements (Cost $550,898,981)						550,898,981

TOTAL INVESTMENTS IN SECURITIES^(l)(m)-101.37% (Cost $2,241,779,487)						2,241,170,903

OTHER ASSETS LESS LIABILITIES-(1.37)%						(30,328,382	)

NET ASSETS-100.00%					$	2,210,842,521

Investment Abbreviations:


CEP		-Credit Enhancement Provider
FEDL		-Federal Funds Effective Rate
LOC		-Letter of Credit
MFH		-Multi-Family Housing
OBFR		-Overnight Bank Funding Rate
RB		-Revenue Bonds
Ref.		-Refunding
SOFR		-Secured Overnight Financing Rate
VRD		-Variable Rate Demand

Notes to Schedule of Investments:

^(a)	Securities may be traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.

^(b)

^(c)

^(d)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(e)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(f)	Security subject to the alternative minimum tax.

^(g)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(h)	Principal amount equals value at period end. See Note 1I.

⁽ⁱ⁾	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(j)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(k)	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(l)	Also represents cost for federal income tax purposes.

^(m)	Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer’s obligations but may be called upon to satisfy the issuer’s obligations. No concentration of any single entity was greater than 5% each.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7		51.3%
8-30		4.1
31-60		10.4
61-90		5.2
91-180		20.9
181+		8.1

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

6 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco STIC Prime Portfolio


					Principal
	Interest		Maturity		Amount
	Rate		Date		(000)		Value
Commercial Paper-31.79%^(a)
Asset-Backed Securities - Fully Supported-4.95%
Ionic Capital II Trust (CEP - Citibank N.A.)		0.16%		03/04/2022	$	8,000	$ 7,999,916
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.29%		04/05/2022		5,000	4,998,955
							12,998,871

Asset-Backed Securities - Fully Supported Bank-13.50%
Concord Minutemen Capital Co. LLC^(b)(c)		0.18%		03/17/2022		5,000	4,999,745
Institutional Secured Funding LLC (Multi - CEP’s)^(b)(c)		0.18%		03/04/2022		7,000	6,999,872
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)^(b)(c)		0.17%		03/16/2022		7,430	7,429,515
Nieuw Amsterdam Receivables Corp. (CEP - Cooperatieve Rabobank U.A.)^(b)(c)		0.17%		03/17/2022		8,000	7,999,490
Sheffield Receivables Co. LLC (CEP - Barclays Bank PLC)^(b)(c)		0.15%		03/11/2022		8,000	7,999,755
							35,428,377

Diversified Banks-13.34%
Agricultural Bank of China Ltd.^(b)(c)		0.18%		03/07/2022		8,000	7,999,759
BNG Bank N.V.^(b)(c)		0.10%		03/01/2022		5,000	4,999,991
Nederlandse Waterschapsbank N.V.^(b)(c)		0.51%		03/31/2022		7,000	6,999,036
NRW Bank^(b)(c)		0.51%		04/01/2022		7,000	6,996,889
Sumitomo Mitsui Trust Bank Ltd.^(b)(c)		0.17%		03/16/2022		8,000	7,999,573
							34,995,248
Total Commercial Paper (Cost $83,419,659)							83,422,496

Certificates of Deposit-25.92%
ANZ New Zealand (Int’l) Ltd.^(c)		0.07%		03/01/2022		12,000	12,000,000
Canadian Imperial Bank of Commerce^(c)		0.07%		03/01/2022		12,000	12,000,000
Cooperatieve Rabobank U.A.^(c)		0.07%		03/01/2022		4,000	4,000,000
DZ Bank AG Deutsche Zentral-Genossenschaftsbank^(c)		0.06%		03/01/2022		10,000	10,000,000
Nordea Bank Abp^(c)		0.06%		03/01/2022		10,000	10,000,000
Skandinaviska Enskilda Banken AB^(c)		0.06%		03/01/2022		10,000	10,000,000
Svenska Handelsbanken AB^(c)		0.06%		03/01/2022		10,000	10,000,000
Total Certificates of Deposit (Cost $68,000,000)							68,000,000

Variable Rate Demand Notes-15.46%^(d)
Credit Enhanced-15.46%
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(e)		0.19%		06/01/2037		5,610	5,610,000
Illinois (State of) Housing Development Authority (Danbury Court Apartments-Phase II); Series 2004 B, VRD MFH RB (LOC - FHLB of Indianapolis)^(e)(f)		0.28%		12/01/2039		730	730,000
Jets Stadium Development LLC; Series 2007 A-4, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)^(b)(e)		0.26%		04/01/2047		7,800	7,800,000
Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank N.A.)^(e)		0.22%		05/01/2037		3,050	3,050,000
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(e)		0.19%		11/15/2046		3,000	3,000,000
Mobile Downtown Redevelopment Authority (The) (Austal USA LLC); Series 2011 B, Ref. VRD RB^(b)		0.22%		05/01/2041		6,000	6,000,000
Ohio (State of) Housing Finance Agency (Wingate at Belle Meadows); Series 2004, VRD RB^(f)		0.15%		10/01/2036		8,205	8,205,000
Portland (Port of), OR (Portland International Airport); Subseries 2008 18-A, Ref. VRD RB (LOC - Industrial & Commercial Bank of China Ltd.)^(c)(e)(f)		0.27%		07/01/2026		570	570,000
Southeast Texas Housing Finance Corp. (Mansions at Moses Lake Apartments); Series 2008, VRD RB (CEP - FHLMC)^(f)		0.26%		06/01/2041		890	890,000

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

7 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco STIC Prime Portfolio–(continued)


					Principal
	Interest		Maturity		Amount
	Rate		Date		(000)		Value
Credit Enhanced-(continued)
Ziegler Realty LLC; Series 2007, VRD Notes (LOC - Wells Fargo Bank N.A.)^(b)(e)		0.18%		01/01/2033	$	4,700	$	4,700,000

Total Variable Rate Demand Notes (Cost $40,555,000)								40,555,000

TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-73.17% (Cost $191,974,659)								191,977,496


					Repurchase Amount
Repurchase Agreements-32.14%^(g)
BMO Capital Markets Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $100,003,111 (collateralized by U.S government sponsored agency obligations, domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $103,576,455; 0.00% - 8.88%; 04/25/2022 - 06/20/2071)^(c)(h)		0.16%		03/01/2022		3,000,093		3,000,000

BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $150,004,958 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $157,182,535; 0.00% -8.20%; 02/13/2023 - 12/16/2062)^(c)(h)		0.17%		03/02/2022		3,000,099		3,000,000

BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $25,001,069 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $26,546,588; 0.00% - 10.00%; 12/07/2021 - 12/20/2065)^(c)(h)		0.22%		03/02/2022		3,000,128		3,000,000

BofA Securities, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $745,001,035 (collateralized by domestic agency mortgage-backed securities valued at $759,900,001; 0.46% - 7.50%; 09/25/2022 - 01/01/2052)		0.05%		03/01/2022		12,000,017		12,000,000

Citigroup Global Markets, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $400,000,556 (collateralized by U.S. Treasury obligations valued at $408,000,001; 0.00% - 0.13%; 01/15/2023 - 02/15/2051)		0.05%		03/01/2022		12,000,017		12,000,000

Credit Suisse Securities (USA) LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $10,000,095 (collateralized by domestic non-agency mortgage-backed securities valued at $10,500,001; 1.38% - 4.74%; 12/15/2046 - 01/20/2051)^(c)(i)		0.34%		03/01/2022		8,000,076		8,000,000

J.P. Morgan Securities LLC, joint open agreement dated 09/18/2020 (collateralized by domestic and foreign equity securities valued at $15,753,313; 0.00% - 8.50%; 10/31/2026 -01/31/2028)^(j)		0.27%		03/01/2022		8,001,680		8,000,000

Mitsubishi UFJ Trust & Banking Corp., joint open agreement dated 02/23/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations, domestic and foreign commercial paper and a U.S. Treasury obligation valued at $51,697,846; 0.00% - 8.50%; 03/01/2022 - 01/15/2082)^(c)(j)		0.20%		03/01/2022		7,001,089		7,000,000

Mizuho Securities (USA) LLC, joint open agreement dated 12/30/2021 (collateralized by domestic and foreign equity securities valued at $52,500,215; 0.00%)^(c)(j)		0.22%		03/01/2022		7,000,043		7,000,000

Societe Generale, joint open agreement dated 08/06/2019 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and domestic non-agency mortgage-backed securities valued at $78,729,067; 0.34% - 13.00%; 03/15/2022 - 12/15/2072)^(c)(j)		0.25%		03/01/2022		5,000,035		5,000,000

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)		0.06%		03/01/2022		16,326,257		16,326,230

Total Repurchase Agreements (Cost $84,326,230)								84,326,230

TOTAL INVESTMENTS IN SECURITIES^(k)(l)-105.31% (Cost $276,300,889)								276,303,726

OTHER ASSETS LESS LIABILITIES-(5.31)%								(13,931,465	)

NET ASSETS-100.00%							$	262,372,261

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

8 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco STIC Prime Portfolio–(continued)

Investment Abbreviations:


CEP		-Credit Enhancement Provider
FHLB		-Federal Home Loan Bank
FHLMC		-Federal Home Loan Mortgage Corp.
LOC		-Letter of Credit
MFH		-Multi-Family Housing
RB		-Revenue Bonds
Ref.		-Refunding
VRD		-Variable Rate Demand

Notes to Schedule of Investments:

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

^(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 February 28, 2022 was $93,922,580, which represented 35.80% of the Fund’s Net Assets.

^(c)

The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: Netherlands: 11.8; Japan: 8.4%; Canada: 8.0%; Sweden: 7.6%; France: 6.6%; Germany: 6.5%; Switzerland: 5.0%; other countries less than 5% each: 14.7%.

^(d)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(e)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(f)	Security subject to the alternative minimum tax.

^(g)	Principal amount equals value at period end. See Note 1I.

^(h)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

⁽ⁱ⁾	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(j)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(k)	Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer’s obligation but may be called upon to satisfy issuer’s obligations. No concentration of any single entity was greater than 5% each.

^(l)	Also represents cost for federal income tax purposes.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7		75.8%
8-30		13.9
31-60		10.3
61-90		0.0
91-180		0.0
181+		0.0

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

9 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. Treasury Securities-60.06%
U.S. Treasury Bills-31.54%^(a)
U.S. Treasury Bills		0.11%		04/26/2022	$	721,000	$ 720,876,629
U.S. Treasury Bills		0.29%-0.31%		05/12/2022		650,000	649,612,998
U.S. Treasury Bills		0.28%		05/24/2022		225,000	224,855,625
U.S. Treasury Bills		0.38%		05/26/2022		450,000	449,591,499
U.S. Treasury Bills		0.28%-0.29%		05/31/2022		1,200,000	1,199,141,564
U.S. Treasury Bills		0.09%-0.36%		06/02/2022		600,000	599,589,500
U.S. Treasury Bills		0.34%		06/07/2022		527,000	526,512,232
U.S. Treasury Bills		0.07%-0.26%		06/16/2022		535,000	534,676,771
U.S. Treasury Bills		0.55%		06/21/2022		460,000	459,212,889
U.S. Treasury Bills		0.57%		06/28/2022		500,000	499,057,915
U.S. Treasury Bills		0.08%		07/14/2022		150,000	149,957,812
U.S. Treasury Bills		0.11%		08/11/2022		200,000	199,900,842
U.S. Treasury Bills		0.08%-0.12%		09/08/2022		500,000	499,727,295
U.S. Treasury Bills		0.09%		10/06/2022		200,000	199,890,500
							6,912,604,071

U.S. Treasury Floating Rate Notes-15.08%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)		0.47%		04/30/2022		744,000	744,073,587
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		07/31/2022		350,000	350,001,528
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		10/31/2022		355,000	354,993,431
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)		0.41%		01/31/2023		100,000	100,000,000
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		04/30/2023		250,500	250,509,461
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		07/31/2023		627,000	627,019,367
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)		0.40%		10/31/2023		880,000	879,991,372
							3,306,588,746

U.S. Treasury Notes-13.44%
U.S. Treasury Notes		1.75%		03/31/2022		300,000	300,412,035
U.S. Treasury Notes		1.88%		03/31/2022		100,000	100,145,660
U.S. Treasury Notes		1.75%		04/30/2022		200,000	200,549,446
U.S. Treasury Notes		1.75%		06/15/2022		200,000	200,963,044
U.S. Treasury Notes		0.13%		06/30/2022		200,000	200,023,309
U.S. Treasury Notes		1.75%		06/30/2022		100,000	100,547,880
U.S. Treasury Notes		2.13%		06/30/2022		200,000	201,349,336
U.S. Treasury Notes		1.75%		07/15/2022		200,000	201,230,784
U.S. Treasury Notes		0.13%		07/31/2022		200,000	200,033,666
U.S. Treasury Notes		1.88%		07/31/2022		250,000	251,856,731
U.S. Treasury Notes		1.63%		08/15/2022		200,000	201,417,294
U.S. Treasury Notes		1.63%		08/31/2022		150,000	151,137,915
U.S. Treasury Notes		1.50%		09/15/2022		150,000	151,151,255

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

10 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value

U.S. Treasury Notes-(continued)
U.S. Treasury Notes		1.38%		10/15/2022	$	200,000	$ 201,613,975
U.S. Treasury Notes		1.88%		10/31/2022		180,000	182,134,400
U.S. Treasury Notes		2.00%		10/31/2022		100,000	101,267,558
							2,945,834,288
Total U.S. Treasury Securities (Cost $13,165,027,105)							13,165,027,105
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-60.06% (Cost $13,165,027,105)							13,165,027,105

					Repurchase Amount
Repurchase Agreements-44.00%^(c)
Bank of Nova Scotia, agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by U.S. Treasury obligations valued at $510,000,014; 0.13% - 2.75%; 09/30/2022 - 08/15/2029)		0.05%		03/01/2022		500,000,694	500,000,000
BofA Securities, Inc., agreement dated 02/28/2022, maturing value of $600,000,833 (collateralized by U.S. Treasury obligations valued at $612,000,010; 1.13% - 7.63%; 11/15/2024 - 05/15/2051)		0.05%		03/01/2022		600,000,833	600,000,000
CIBC World Markets Corp., joint term agreement dated 02/07/2022, aggregate maturing value of $350,020,319 (collateralized by U.S. Treasury obligations valued at $357,000,019; 0.00% - 4.50%; 07/14/2022 - 02/15/2051)^(d)		0.06%		03/17/2022		150,008,708	150,000,000
Citigroup Global Markets, Inc., joint term agreement dated 02/22/2022, aggregate maturing value of $300,003,208 (collateralized by U.S. Treasury obligations valued at $306,000,095; 1.25% - 2.25%; 11/15/2022 -04/30/2028)^(d)		0.06%		03/01/2022		110,001,176	110,000,000
Credit Agricole Corporate & Investment Bank, joint agreement dated 02/28/2022, aggregate maturing value of $1,250,001,736 (collateralized by U.S. Treasury obligations valued at $1,275,000,039; 0.75% - 2.75%; 05/31/2023 - 09/30/2028)		0.05%		03/01/2022		950,001,319	950,000,000
Credit Agricole Corporate & Investment Bank, joint open agreement dated 12/01/2021 (collateralized by U.S. Treasury obligations valued at $2,032,860,462; 0.13% - 3.13%; 04/15/2024 - 11/15/2050)^(e)		0.05%		03/01/2022		450,017,375	450,000,000
DNB Bank ASA, agreement dated 02/28/2022, maturing value of $350,000,486 (collateralized by U.S. Treasury obligations valued at $361,046,466; 0.13% -1.63%; 07/15/2027 - 07/15/2031)		0.05%		03/01/2022		350,000,486	350,000,000
Federal Reserve Bank of New York, joint agreement dated 02/28/2022, aggregate maturing value of $800,001,111 (collateralized by U.S. Treasury obligations valued at $800,001,169; 0.13%; 11/30/2022)		0.05%		03/01/2022		200,000,278	200,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), agreement dated 02/28/2022, maturing value of $1,500,002,083 (collateralized by U.S. Treasury obligations valued at $1,530,000,063; 0.13% - 2.88%; 05/15/2022 - 11/15/2046)		0.05%		03/01/2022		1,500,002,083	1,500,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), joint agreement dated 02/28/2022, aggregate maturing value of $612,000,085 (collateralized by U.S. Treasury obligations valued at $624,240,130; 0.00%; 08/11/2022)		0.01%		03/01/2022		200,000,028	200,000,000
Goldman Sachs & Co., agreement dated 02/28/2022, maturing value of $250,000,347 (collateralized by a U.S. Treasury obligation valued at $255,000,014; 1.75%; 11/15/2029)		0.05%		03/01/2022		250,000,347	250,000,000
ING Financial Markets, LLC, agreement dated 02/28/2022, maturing value of $100,000,139 (collateralized by U.S. Treasury obligations valued at $102,000,056; 0.00% - 1.75%; 05/19/2022 - 02/15/2045)		0.05%		03/01/2022		100,000,139	100,000,000
J.P. Morgan Securities LLC, joint open agreement dated 03/27/2020 (collateralized by U.S. Treasury obligations valued at $867,001,467; 0.00% -2.38%; 03/03/2022 - 05/15/2050)^(e)		0.05%		03/01/2022		630,024,325	630,000,000

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

11 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)


	Interest Rate	Maturity Date	Repurchase Amount		Value
Metropolitan Life Insurance Co., joint term agreement dated 02/23/2022, aggregate maturing value of $350,014,295 (collateralized by U.S. Treasury obligations valued at $358,935,903; 0.00%; 08/15/2027 - 11/15/2045)^(d)	0.07%	03/02/2022	$	100,004,324	$	100,002,963

Mitsubishi UFJ Trust & Banking Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $768,135,455 (collateralized by U.S. Treasury obligations valued at $788,525,747; 1.13%; 02/28/2025 - 02/28/2027)^(d)	0.07%	03/02/2022		266,003,621		266,000,000

Mitsubishi UFJ Trust & Banking Corp., term agreement dated 02/23/2022, maturing value of $100,001,167 (collateralized by U.S. Treasury obligations valued at $102,001,081; 0.63% - 1.25%; 08/15/2030 - 08/15/2031)^(d)	0.06%	03/02/2022		100,001,167		100,000,000

Prudential Insurance Co. of America, agreement dated 02/28/2022, maturing value of $256,312,927 (collateralized by U.S. Treasury obligations valued at $264,258,250; 0.00%; 08/15/2027 - 08/15/2037)	0.06%	03/01/2022		256,312,927		256,312,500

Prudential Legacy Insurance Company of New Jersey, agreement dated 02/28/2022, maturing value of $348,750,581 (collateralized by U.S. Treasury obligations valued at $361,788,000; 0.00%; 08/15/2033 -02/15/2045)	0.06%	03/01/2022		348,750,581		348,750,000

RBC Dominion Securities Inc., joint term agreement dated 02/08/2022, aggregate maturing value of $500,016,667 (collateralized by U.S. Treasury obligations valued at $510,000,124; 0.13% - 6.00%; 07/15/2024 -02/15/2050)^(d)	0.05%	03/04/2022		100,003,333		100,000,000

RBC Dominion Securities Inc., joint term agreement dated 02/24/2022, aggregate maturing value of $500,004,861 (collateralized by U.S. Treasury obligations valued at $510,000,087; 0.13% - 5.25%; 04/30/2022 -02/15/2052)^(d)	0.05%	03/03/2022		250,002,431		250,000,000

Royal Bank of Canada, joint term agreement dated 02/11/2022, aggregate maturing value of $100,004,583 (collateralized by U.S. Treasury obligations valued at $102,000,076; 0.13% - 2.75%; 05/15/2022 - 11/15/2041)^(d)	0.05%	03/16/2022		50,002,292		50,000,000

Royal Bank of Canada, term agreement dated 02/23/2022, maturing value of $250,002,431 (collateralized by U.S. Treasury obligations valued at $255,000,061; 0.13% - 2.88%; 05/15/2022 - 11/15/2041)^(d)	0.05%	03/02/2022		250,002,431		250,000,000

Societe Generale, joint open agreement dated 01/05/2022 (collateralized by U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 7.63%; 03/01/2022 - 02/15/2052)^(e)	0.05%	03/01/2022		275,000,382		275,000,000

Societe Generale, joint open agreement dated 01/12/2022 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,530,000,206; 0.00% -7.63%; 03/01/2022 - 10/01/2051)^(e)	0.05%	03/01/2022		380,000,528		380,000,000

Standard Chartered Bank, agreement dated 02/28/2022, maturing value of $250,000,347 (collateralized by U.S. Treasury obligations valued at $255,000,373; 0.13% - 4.38%; 07/15/2023 - 05/15/2051)	0.05%	03/01/2022		250,000,347		250,000,000

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,700,003,750 (collateralized by U.S. Treasury obligations valued at $2,754,000,090; 0.38% - 2.88%; 07/31/2022 -02/15/2051)	0.05%	03/01/2022		1,027,847,515		1,027,846,087

Total Repurchase Agreements (Cost $9,643,911,550)						9,643,911,550

TOTAL INVESTMENTS IN SECURITIES-104.06% (Cost $22,808,938,655)						22,808,938,655

OTHER ASSETS LESS LIABILITIES-(4.06)%						(889,390,382	)

NET ASSETS-100.00%					$	21,919,548,273

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(c)	Principal amount equals value at period end. See Note 1I.

^(d)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(e)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

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

12 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7		39.9%
8-30		0.0
31-60		5.1
61-90		10.4
91-180		27.7
181+		16.9

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

13 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. Treasury Securities-61.01%
U.S. Treasury Bills-43.56%^(a)
U.S. Treasury Bills		0.06%		03/01/2022	$	475,000	$ 475,000,000
U.S. Treasury Bills		0.07%		03/10/2022		750,000	749,986,875
U.S. Treasury Bills		0.08%		03/24/2022		715,000	714,965,740
U.S. Treasury Bills		0.07%		03/29/2022		705,000	704,961,471
U.S. Treasury Bills		0.09%		03/31/2022		815,000	814,942,271
U.S. Treasury Bills		0.25%		04/12/2022		2,011,000	2,010,413,458
U.S. Treasury Bills		0.25%		04/19/2022		3,000,000	2,998,979,164
U.S. Treasury Bills		0.07%		04/21/2022		250,000	249,976,979
U.S. Treasury Bills		0.11%		04/26/2022		1,690,000	1,689,603,342
U.S. Treasury Bills		0.24%		05/05/2022		750,000	749,675,000
U.S. Treasury Bills		0.29%		05/12/2022		1,200,000	1,199,303,997
U.S. Treasury Bills		0.23%		05/17/2022		545,000	544,729,618
U.S. Treasury Bills		0.44%		05/19/2022		500,000	499,517,223
U.S. Treasury Bills		0.25%		05/24/2022		800,000	799,512,917
U.S. Treasury Bills		0.29%		05/31/2022		2,000,000	1,998,572,943
U.S. Treasury Bills		0.09%		06/02/2022		850,000	849,463,625
U.S. Treasury Bills		0.34%		06/07/2022		1,550,000	1,548,572,738
U.S. Treasury Bills		0.11%		06/09/2022		250,000	249,927,083
U.S. Treasury Bills		0.50%		06/14/2022		905,000	903,692,954
U.S. Treasury Bills		0.07%		06/16/2022		400,000	399,917,521
U.S. Treasury Bills		0.55%		06/21/2022		1,565,000	1,562,322,111
U.S. Treasury Bills		0.57%		06/28/2022		1,600,000	1,597,117,141
U.S. Treasury Bills		0.08%		08/11/2022		300,000	299,891,333
U.S. Treasury Bills		0.61%-0.72%		08/25/2022		2,075,000	2,068,206,952
U.S. Treasury Bills		0.08%		09/08/2022		75,000	74,970,156
U.S. Treasury Bills		0.10%		10/06/2022		860,000	859,518,656
							26,613,741,268

U.S. Treasury Floating Rate Notes-8.87%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)		0.47%		04/30/2022		107,000	107,014,699
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		07/31/2022		287,000	287,008,217
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		10/31/2022		730,000	730,013,539
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)		0.41%		01/31/2023		412,400	412,493,852
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		04/30/2023		1,330,000	1,330,100,459
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		07/31/2023		1,085,000	1,085,029,584
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)		0.40%		10/31/2023		1,238,679	1,238,723,205
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate - 0.02%)^(b)		0.35%		01/31/2024		230,000	229,924,030
							5,420,307,585

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

14 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. Treasury Notes-8.58%
U.S. Treasury Notes		2.38%		03/15/2022	$	46,000	$ 46,040,879
U.S. Treasury Notes		1.75%		03/31/2022		650,000	650,895,927
U.S. Treasury Notes		1.88%		03/31/2022		925,000	926,373,709
U.S. Treasury Notes		1.75%		04/30/2022		50,000	50,137,302
U.S. Treasury Notes		1.88%		04/30/2022		150,000	150,446,901
U.S. Treasury Notes		1.75%		05/15/2022		135,000	135,465,164
U.S. Treasury Notes		2.13%		05/15/2022		190,000	190,803,023
U.S. Treasury Notes		1.75%		05/31/2022		50,000	50,209,503
U.S. Treasury Notes		1.75%		06/30/2022		739,243	743,325,465
U.S. Treasury Notes		2.13%		06/30/2022		660,000	664,453,821
U.S. Treasury Notes		1.75%		07/15/2022		625,000	628,878,536
U.S. Treasury Notes		0.13%		07/31/2022		150,000	150,011,557
U.S. Treasury Notes		2.00%		07/31/2022		210,000	211,669,979
U.S. Treasury Notes		1.50%		08/15/2022		140,000	140,910,651
U.S. Treasury Notes		1.63%		08/15/2022		100,000	100,703,676
U.S. Treasury Notes		1.88%		08/31/2022		90,000	90,521,762
U.S. Treasury Notes		1.50%		09/15/2022		210,000	211,598,819
U.S. Treasury Notes		1.75%		09/30/2022		100,000	100,971,671
							5,243,418,345
Total U.S. Treasury Securities (Cost $37,277,467,198)							37,277,467,198

U.S. Government Sponsored Agency Securities-8.16%
Federal Farm Credit Bank (FFCB)-3.16%
Federal Farm Credit Bank (SOFR + 0.08%)^(b)		0.13%		03/10/2022		28,000	28,000,000
Federal Farm Credit Bank (SOFR + 0.09%)^(b)		0.13%		06/17/2022		65,000	65,000,000
Federal Farm Credit Bank (SOFR + 0.20%)^(b)		0.25%		06/23/2022		12,000	12,004,748
Federal Farm Credit Bank (SOFR + 0.19%)^(b)		0.24%		07/14/2022		28,000	28,000,000
Federal Farm Credit Bank (SOFR + 0.15%)^(b)		0.19%		07/28/2022		45,000	45,000,000
Federal Farm Credit Bank (SOFR + 0.07%)^(b)		0.12%		08/11/2022		108,000	108,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		08/26/2022		97,500	97,497,588
Federal Farm Credit Bank (SOFR + 0.09%)^(b)		0.13%		10/07/2022		30,000	30,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		10/12/2022		18,000	18,000,562
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		10/21/2022		20,000	20,000,000
Federal Farm Credit Bank (SOFR + 0.08%)^(b)		0.13%		11/03/2022		35,000	35,000,000
Federal Farm Credit Bank (SOFR + 0.01%)^(b)		0.06%		11/16/2022		185,000	184,997,327
Federal Farm Credit Bank (SOFR + 0.07%)^(b)		0.12%		11/18/2022		56,000	56,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		12/01/2022		74,000	74,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		12/28/2022		350,000	350,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		02/09/2023		18,000	18,000,000
Federal Farm Credit Bank (SOFR + 0.02%)^(b)		0.07%		06/12/2023		75,000	75,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		06/14/2023		58,000	58,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		07/07/2023		143,000	143,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.07%		09/08/2023		155,000	155,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		09/18/2023		21,500	21,500,000
Federal Farm Credit Bank (SOFR + 0.04%)^(b)		0.09%		09/20/2023		25,000	25,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.07%		09/27/2023		60,000	60,000,000

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

15 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
Federal Farm Credit Bank (FFCB)-(continued)
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.10%		11/07/2023	$	50,000	$ 50,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		12/13/2023		84,000	84,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		01/10/2024		75,500	75,500,000
Federal Farm Credit Bank (SOFR + 0.04%)^(b)		0.09%		01/25/2024		15,000	15,000,000
							1,931,500,225

Federal Home Loan Bank (FHLB)-4.23%
Federal Home Loan Bank		0.05%		03/17/2022		200,000	199,998,812
Federal Home Loan Bank (SOFR + 0.07%)^(b)		0.12%		04/14/2022		45,000	45,000,000
Federal Home Loan Bank (SOFR + 0.07%)^(b)		0.11%		04/28/2022		28,000	28,000,000
Federal Home Loan Bank		0.06%		05/06/2022		29,000	28,999,425
Federal Home Loan Bank^(a)		0.27%		05/11/2022		244,000	243,872,476
Federal Home Loan Bank (SOFR + 0.06%)^(b)		0.11%		05/12/2022		35,000	35,000,000
Federal Home Loan Bank^(a)		0.40%		05/18/2022		114,800	114,700,507
Federal Home Loan Bank^(a)		0.40%		05/20/2022		1,101,000	1,100,021,333
Federal Home Loan Bank		2.13%		06/10/2022		55,750	56,054,443
Federal Home Loan Bank (SOFR + 0.13%)^(b)		0.18%		08/05/2022		80,000	80,000,000
Federal Home Loan Bank (SOFR + 0.09%)^(b)		0.14%		08/19/2022		380,000	380,003,070
Federal Home Loan Bank (SOFR + 0.09%)^(b)		0.13%		10/05/2022		80,000	80,000,000
Federal Home Loan Bank (SOFR + 0.06%)^(b)		0.11%		12/08/2022		63,200	63,202,161
Federal Home Loan Bank (SOFR + 0.06%)^(b)		0.11%		12/16/2022		3,500	3,500,845
Federal Home Loan Bank (SOFR + 0.03%)^(b)		0.08%		06/07/2023		125,000	125,000,000
							2,583,353,072

Federal Home Loan Mortgage Corp. (FHLMC)-0.40%
Federal Home Loan Mortgage Corp.		0.25%		06/08/2022		15,510	15,517,146
Federal Home Loan Mortgage Corp.		0.13%		07/25/2022		38,000	38,002,165
Federal Home Loan Mortgage Corp. (SOFR + 0.09%)^(b)		0.14%		09/16/2022		190,000	190,000,000
							243,519,311

Federal National Mortgage Association (FNMA)-0.00%
Federal National Mortgage Association^(a)		0.20%		03/09/2022		2,500	2,499,889

U.S. International Development Finance Corp. (DFC)-0.37%
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		06/15/2025		16,800	16,800,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		07/15/2025		18,278	18,277,780
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/15/2025		3,947	3,947,368
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/15/2026		4,750	4,750,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/15/2026		7,917	7,916,667
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		08/13/2027		8,000	8,000,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		08/13/2027		4,600	4,600,000

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

16 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. International Development Finance Corp. (DFC)-(continued)
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/30/2027	$	12,000	$ 12,000,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		02/15/2028		13,333	13,333,333
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		11/15/2028		61,364	61,363,637
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.20%		05/15/2030		7,488	7,488,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		10/15/2030		7,778	7,777,778
U.S. International Development Finance Corp. VRD Notes (3 mo. U.S. Treasury Bill Rate)^(c)		0.16%		07/09/2026		22,950	22,950,000
U.S. International Development Finance Corp. VRD Notes (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		03/15/2030		37,125	37,125,000
							226,329,563
Total U.S. Government Sponsored Agency Securities (Cost $4,987,202,060)							4,987,202,060
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-69.17% (Cost $42,264,669,258)							42,264,669,258

					Repurchase Amount
Repurchase Agreements-35.49%^(d)
ABN AMRO Bank N.V., agreement dated 02/28/2022, maturing value of $350,000,486 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $357,000,074; 1.30% - 4.50%; 06/30/2022 - 09/16/2063)		0.05%		03/01/2022		350,000,486	350,000,000
ABN AMRO Bank N.V., agreement dated 02/28/2022, maturing value of $450,000,625 (collateralized by U.S. Treasury obligations valued at $459,000,068; 0.13% - 3.38%; 06/30/2022 - 02/15/2051)		0.05%		03/01/2022		450,000,625	450,000,000
Bank of Montreal, joint term agreement dated 02/10/2022, aggregate maturing value of $250,014,583 (collateralized by domestic agency mortgage-backed securities valued at $255,000,000; 2.50% - 4.50%; 11/01/2046 -02/01/2052)^(e)		0.06%		03/17/2022		125,007,292	125,000,000
BNP Paribas Securities Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $500,004,861 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,007; 0.00% - 7.00%; 06/21/2022 - 02/01/2052)^(e)		0.05%		03/01/2022		385,003,743	385,000,000
BofA Securities, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $745,001,035 (collateralized by domestic agency mortgage-backed securities valued at $759,900,001; 0.46% - 7.50%; 09/25/2022 -01/01/2052)		0.05%		03/01/2022		238,000,331	238,000,000
CIBC World Markets Corp., joint term agreement dated 01/24/2022, aggregate maturing value of $500,043,333 (collateralized by domestic agency mortgage-backed securities valued at $510,000,000; 1.50% - 4.50%; 10/01/2036 - 03/01/2052)^(e)		0.06%		03/17/2022		350,030,333	350,000,000
CIBC World Markets Corp., joint term agreement dated 02/07/2022, aggregate maturing value of $350,020,319 (collateralized by U.S. Treasury obligations valued at $357,000,019; 0.00% - 4.50%; 07/14/2022 - 02/15/2051)^(e)		0.06%		03/17/2022		200,011,611	200,000,000
Citigroup Global Markets, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $400,000,556 (collateralized by U.S. Treasury obligations valued at $408,000,001; 0.00% - 0.13%; 01/15/2023 - 02/15/2051)		0.05%		03/01/2022		113,000,157	113,000,000

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

17 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate	Maturity Date	Repurchase Amount		Value
Citigroup Global Markets, Inc., joint term agreement dated 02/22/2022, aggregate maturing value of $500,005,833 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,029; 0.00% - 17.46%; 07/31/2023 - 07/20/2070)^(e)	0.06%	03/01/2022	$	400,004,667	$ 400,000,000
Credit Agricole Corporate & Investment Bank, agreement dated 02/28/2022, maturing value of $200,000,278 (collateralized by a domestic agency mortgage-backed security valued at $204,000,001; 2.00%; 01/20/2051)	0.05%	03/01/2022		200,000,278	200,000,000
Credit Agricole Corporate & Investment Bank, joint open agreement dated 12/01/2021 (collateralized by U.S. Treasury obligations valued at $2,032,860,462; 0.13% - 3.13%; 04/15/2024 - 11/15/2050)^(f)	0.05%	03/01/2022		1,242,047,955	1,242,000,000
Federal Reserve Bank of New York, joint agreement dated 02/28/2022, aggregate maturing value of $800,001,111 (collateralized by U.S. Treasury obligations valued at $800,001,169; 0.13%; 11/30/2022)	0.05%	03/01/2022		600,000,833	600,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), agreement dated 02/28/2022, maturing value of $3,500,004,861 (collateralized by U.S. Treasury obligations valued at $3,570,000,054; 0.13% - 3.88%; 01/15/2026 - 02/15/2044)	0.05%	03/01/2022		3,500,004,861	3,500,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), joint agreement dated 02/28/2022, aggregate maturing value of $612,000,085 (collateralized by U.S. Treasury obligations valued at $624,240,130; 0.00%; 08/11/2022)	0.01%	03/01/2022		412,000,057	412,000,000
Fixed Income Clearing Corp. - State Street Bank, agreement dated 02/28/2022, maturing value of $300,000,083 (collateralized by U.S. Treasury obligations valued at $306,000,068; 0.13% - 0.47%; 04/15/2022 - 04/30/2022)	0.01%	03/01/2022		300,000,083	300,000,000
Goldman Sachs & Co., agreement dated 02/28/2022, maturing value of $500,000,139 (collateralized by U.S. Treasury obligations valued at $510,000,000; 0.00% - 7.63%; 04/07/2022 - 02/15/2052)	0.01%	03/01/2022		500,000,139	500,000,000
Goldman Sachs & Co., term agreement dated 02/22/2022, maturing value of $295,003,155 (collateralized by U.S. Treasury obligations valued at $300,900,027; 0.00% - 2.50%; 08/15/2022 - 02/28/2026)^(e)	0.06%	03/01/2022		295,003,155	295,000,000
ING Financial Markets, LLC, joint term agreement dated 02/22/2022, aggregate maturing value of $200,008,944 (collateralized by domestic agency mortgage-backed securities valued at $204,000,000; 1.50% - 4.50%; 10/01/2029 - 05/01/2058)	0.07%	03/17/2022		130,005,814	130,000,000
ING Financial Markets, LLC, joint term agreement dated 12/28/2021, aggregate maturing value of $350,070,000 (collateralized by U.S. government sponsored agency obligations and domestic agency mortgage-backed securities valued at $357,000,395; 0.00% - 7.50%; 12/28/2022 - 05/01/2058)	0.08%	03/28/2022		300,060,000	300,000,000
ING Financial Markets, LLC, term agreement dated 02/07/2022, maturing value of $200,010,667 (collateralized by domestic agency mortgage-backed securities valued at $204,000,000; 1.50% - 7.50%; 06/01/2027 -02/01/2052)	0.06%	03/11/2022		200,010,667	200,000,000
ING Financial Markets, LLC, term agreement dated 02/10/2022, maturing value of $275,013,292 (collateralized by U.S. government sponsored agency obligations and domestic agency mortgage-backed securities valued at $280,500,646; 0.00% - 5.00%; 04/05/2022 - 02/01/2052)	0.06%	03/11/2022		275,013,292	275,000,000
J.P. Morgan Securities LLC, joint agreement dated 02/28/2022, aggregate maturing value of $1,000,001,667 (collateralized by domestic agency mortgage-backed securities valued at $1,020,000,000; 0.46% - 7.50%; 06/25/2025 - 10/16/2062)	0.06%	03/01/2022		800,001,333	800,000,000
J.P. Morgan Securities LLC, joint open agreement dated 03/27/2020 (collateralized by U.S. Treasury obligations valued at $867,001,467; 0.00% -2.38%; 03/03/2022 - 05/15/2050)^(f)	0.05%	03/01/2022		150,005,792	150,000,000
J.P. Morgan Securities LLC, joint open agreement dated 07/01/2021 (collateralized by domestic agency mortgage-backed securities valued at $239,700,000; 0.47% - 6.00%; 01/01/2026 - 10/15/2061)^(f)	0.06%	03/01/2022		210,009,742	210,000,000

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

18 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate	Maturity Date	Repurchase Amount		Value
J.P. Morgan Securities LLC, joint open agreement dated 07/01/2021 (collateralized by domestic agency mortgage-backed securities valued at $280,500,035; 1.85% - 6.00%; 07/01/2026 - 02/20/2052)^(f)	0.07%	03/01/2022	$	240,013,000	$ 240,000,000
J.P. Morgan Securities LLC, joint open agreement dated 10/15/2019 (collateralized by domestic agency mortgage-backed securities valued at $382,500,005; 0.46% - 7.50%; 12/15/2026 - 02/16/2058)^(f)	0.07%	03/01/2022		275,014,896	275,000,000
Metropolitan Life Insurance Co., joint term agreement dated 02/23/2022, aggregate maturing value of $350,014,295 (collateralized by U.S. Treasury obligations valued at $358,935,903; 0.00%; 08/15/2027 - 11/15/2045)^(e)	0.07%	03/02/2022		170,004,314	170,002,000
Mitsubishi UFJ Trust & Banking Corp., agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by domestic agency mortgage-backed securities valued at $510,000,000; 0.30% - 3.50%; 08/25/2027 -01/20/2052)	0.05%	03/01/2022		500,000,694	500,000,000
Mitsubishi UFJ Trust & Banking Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $768,135,455 (collateralized by U.S. Treasury obligations valued at $788,525,747; 1.13%; 02/28/2025 - 02/28/2027)^(e)	0.07%	03/02/2022		338,192,103	338,187,500
Mizuho Securities (USA) LLC, agreement dated 02/28/2022, maturing value of $200,000,278 (collateralized by U.S. Treasury obligations valued at $204,000,019; 0.00%; 03/31/2022 - 08/04/2022)	0.05%	03/01/2022		200,000,278	200,000,000
Prudential Insurance Co. of America, agreement dated 02/28/2022, maturing value of $509,883,350 (collateralized by U.S. Treasury obligations valued at $528,644,040; 0.00%; 02/15/2026 - 11/15/2043)	0.06%	03/01/2022		509,883,350	509,882,500
RBC Capital Markets LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $750,001,875 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $765,000,244; 0.13% - 8.00%; 03/01/2022 - 08/20/2065)^(e)(g)	0.09%	03/01/2022		600,001,500	600,000,000
RBC Dominion Securities Inc., agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,049; 0.00% - 5.50%; 07/15/2024 - 01/15/2052)	0.05%	03/01/2022		500,000,694	500,000,000
RBC Dominion Securities Inc., joint term agreement dated 01/11/2022, aggregate maturing value of $500,049,167 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,022; 0.00% - 6.00%; 03/31/2022 - 01/15/2052)^(e)	0.06%	03/11/2022		250,024,583	250,000,000
RBC Dominion Securities Inc., joint term agreement dated 01/19/2022, aggregate maturing value of $1,000,076,389 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 5.50%; 02/15/2030 - 01/15/2052)^(e)	0.06%	03/10/2022		875,066,840	875,000,000
RBC Dominion Securities Inc., joint term agreement dated 02/08/2022, aggregate maturing value of $500,016,667 (collateralized by U.S. Treasury obligations valued at $510,000,124; 0.13% - 6.00%; 07/15/2024 -02/15/2050)^(e)	0.05%	03/04/2022		200,006,667	200,000,000
RBC Dominion Securities Inc., joint term agreement dated 02/24/2022, aggregate maturing value of $500,004,861 (collateralized by U.S. Treasury obligations valued at $510,000,087; 0.13% - 5.25%; 04/30/2022 -02/15/2052)^(e)	0.05%	03/03/2022		250,002,431	250,000,000
Royal Bank of Canada, joint term agreement dated 02/11/2022, aggregate maturing value of $100,004,583 (collateralized by U.S. Treasury obligations valued at $102,000,076; 0.13% - 2.75%; 05/15/2022 - 11/15/2041)^(e)	0.05%	03/16/2022		50,002,292	50,000,000
Societe Generale, joint agreement dated 02/28/2022, aggregate maturing value of $1,600,002,222 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,632,000,047; 0.00% - 7.13%; 03/15/2022 -02/01/2052)	0.05%	03/01/2022		1,350,001,875	1,350,000,000

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

19 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate	Maturity Date	Repurchase Amount		Value
Societe Generale, joint open agreement dated 01/05/2022 (collateralized by U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 7.63%; 03/01/2022 - 02/15/2052)^(f)	0.05%	03/01/2022	$	575,000,799	$	575,000,000

Societe Generale, joint open agreement dated 01/12/2022 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,530,000,206; 0.00% -7.63%; 03/01/2022 - 10/01/2051)^(f)	0.05%	03/01/2022		890,001,236		890,000,000

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)	0.06%	03/01/2022		455,713,751		455,712,991

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,700,003,750 (collateralized by U.S. Treasury obligations valued at $2,754,000,090; 0.38% - 2.88%; 07/31/2022 -02/15/2051)	0.05%	03/01/2022		1,672,156,235		1,672,153,913

TD Securities (USA) LLC, term agreement dated 02/23/2022, maturing value of $55,000,588 (collateralized by a U.S. Treasury obligation valued at $56,100,009; 2.75%; 11/15/2023)^(e)	0.06%	03/02/2022		55,000,588		55,000,000

Total Repurchase Agreements (Cost $21,680,938,904)						21,680,938,904

TOTAL INVESTMENTS IN SECURITIES-104.66% (Cost $63,945,608,162)						63,945,608,162

OTHER ASSETS LESS LIABILITIES-(4.66)%						(2,849,604,491	)

NET ASSETS-100.00%					$	61,096,003,671

Investment Abbreviations:

SOFR -Secured Overnight Financing Rate

VRD -Variable Rate Demand

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(c)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(d)	Principal amount equals value at period end. See Note 1I.

^(e)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(f)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(g)	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7		30.1%
8-30		5.5
31-60		15.4
61-90		9.7
91-180		25.6
181+		13.7

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

20 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Treasury Obligations Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. Treasury Securities-113.88%
U.S. Treasury Bills-96.41%^(a)
U.S. Treasury Bills		0.06%		03/01/2022	$	73,600	$ 73,600,000
U.S. Treasury Bills		0.01%-0.05%		03/03/2022		40,700	40,699,891
U.S. Treasury Bills		0.06%		03/08/2022		84,000	83,999,469
U.S. Treasury Bills		0.06%-0.07%		03/10/2022		32,000	31,999,504
U.S. Treasury Bills		0.02%-0.05%		03/15/2022		105,000	104,998,816
U.S. Treasury Bills		0.06%		03/17/2022		20,500	20,499,499
U.S. Treasury Bills		0.05%-0.08%		03/22/2022		86,938	86,933,792
U.S. Treasury Bills		0.14%		03/29/2022		88,600	88,594,856
U.S. Treasury Bills		0.09%		03/31/2022		15,650	15,648,891
U.S. Treasury Bills		0.14%		04/05/2022		30,000	29,995,916
U.S. Treasury Bills		0.09%		04/07/2022		30,000	29,997,225
U.S. Treasury Bills		0.25%		04/12/2022		70,000	69,979,583
U.S. Treasury Bills		0.12%		04/14/2022		20,000	19,997,030
U.S. Treasury Bills		0.25%		04/19/2022		80,000	79,972,778
U.S. Treasury Bills		0.07%-0.17%		04/21/2022		21,000	20,996,391
U.S. Treasury Bills		0.11%		04/26/2022		70,000	69,981,022
U.S. Treasury Bills		0.19%		04/28/2022		21,000	20,993,572
U.S. Treasury Bills		0.21%		05/03/2022		8,000	7,997,130
U.S. Treasury Bills		0.24%		05/05/2022		30,000	29,987,000
U.S. Treasury Bills		0.26%		05/10/2022		1,467	1,466,265
U.S. Treasury Bills		0.29%		05/12/2022		30,000	29,982,600
U.S. Treasury Bills		0.23%		05/17/2022		11,000	10,994,590
U.S. Treasury Bills		0.40%		05/19/2022		7,000	6,993,902
U.S. Treasury Bills		0.28%		05/24/2022		11,000	10,993,058
U.S. Treasury Bills		0.38%		05/26/2022		30,000	29,972,767
U.S. Treasury Bills		0.29%		05/31/2022		20,000	19,985,781
U.S. Treasury Bills		0.09%		06/02/2022		54,000	53,953,570
U.S. Treasury Bills		0.34%		06/07/2022		15,000	14,986,117
U.S. Treasury Bills		0.07%		06/16/2022		3,000	2,999,376
U.S. Treasury Bills		0.55%		06/21/2022		16,000	15,972,622
U.S. Treasury Bills		0.57%		06/28/2022		29,000	28,945,359
U.S. Treasury Bills		0.38%		07/07/2022		7,000	6,990,505
U.S. Treasury Bills		0.71%		08/25/2022		12,000	11,958,110
							1,173,066,987

U.S. Treasury Floating Rate Notes-17.06%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)		0.47%		04/30/2022		55,000	55,002,639
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		07/31/2022		22,000	22,000,544
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		10/31/2022		45,000	44,999,181
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)		0.41%		01/31/2023		11,000	11,001,688
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		04/30/2023		19,000	19,000,897

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

21 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Obligations Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. Treasury Floating Rate Notes-(continued)
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		07/31/2023	$	17,500	$	17,500,602

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)		0.40%		10/31/2023		30,000		30,000,861

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate -0.02%)^(b)		0.35%		01/31/2024		8,000		7,997,358

								207,503,770


U.S. Treasury Notes-0.41%
U.S. Treasury Notes (Cost $5,036,995)		1.88%		07/31/2022		5,000		5,036,995

TOTAL INVESTMENTS IN SECURITIES-113.88% (Cost $1,385,607,752)								1,385,607,752

OTHER ASSETS LESS LIABILITIES-(13.88)%								(168,891,225	)

NET ASSETS-100.00%							$	1,216,716,527

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7		8.3%
8-30		30.1
31-60		25.8
61-90		13.2
91-180		13.2
181+		9.4

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

22 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
Municipal Obligations-99.97%
Alabama-3.24%
Mobile (County of), AL Industrial Development Authority (SSAB Alabama, Inc.); Series 2010 A, VRD RB (LOC - Swedbank AB)^(a)(b)(c)		0.28%		07/01/2040	$	5,500	$ 5,500,000

Arizona-3.20%
Casa Grande (City of), AZ Industrial Development Authority (Quail Gardens Apartments); Series 2001 A, Ref. VRD RB (CEP - FNMA)^(b)		0.20%		06/15/2031		2,685	2,685,000
Sierra Vista (City of), AZ Industrial Development Authority (Mountain Steppes Apartments); Series 2001 A, Ref. VRD RB (CEP - FNMA)^(b)		0.20%		06/15/2031		2,745	2,745,000
							5,430,000

California-1.47%
California (State of);
Series 2022 A-1, Commercial Paper Notes (LOC - Wells Fargo Bank N.A.)^(c)		0.17%		03/01/2022		1,500	1,500,000
Series 2022 A-5, Commercial Paper Notes (LOC - U.S. Bank N.A.)^(c)		0.17%		03/01/2022		1,000	1,000,000
							2,500,000

Delaware-2.47%
Delaware (State of) Economic Development Authority (Goodwill Industries of Delaware & Delaware County); Series 2006, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.20%		09/01/2036		2,655	2,655,000
Delaware (State of) Economic Development Authority (YMCA of Delaware); Series 2007, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.21%		05/01/2036		1,535	1,535,000
							4,190,000

District of Columbia-1.66%
District of Columbia (Medlantic/Helix); Series 1998 A, VRD RB (LOC - TD Bank N.A.)^(a)(b)(c)		0.19%		08/15/2038		2,820	2,820,000

Florida-6.01%
Palm Beach (County of), FL (Henry Morrison Flagler Museum); Series 2003, VRD RB (LOC - Northern Trust Co. (The))^(b)(c)		0.25%		11/01/2036		2,725	2,725,000
Palm Beach (County of), FL (The Raymond F. Kravis Center for the Performing Arts, Inc.); Series 2002, VRD RB (LOC - Northern Trust Co. (The))^(b)(c)		0.21%		07/01/2032		2,400	2,400,000
Sarasota (County of), FL Public Hospital District (Sarasota Memorial Hospital); Series 2008 B, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(b)(c)		0.20%		07/01/2037		5,075	5,075,000
							10,200,000

Georgia-1.13%
Atlanta (City of), GA Georgia Development Authority (Perkins + Will, Inc.); Series 2010, VRD RB (LOC - BMO Harris Bank N.A.)^(a)(b)(c)		0.20%		11/01/2030		1,920	1,920,000

Illinois-10.32%
Illinois (State of) Educational Facilities Authority (The Adler Planetarium); Series 1997, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.20%		04/01/2031		5,000	5,000,000
Illinois (State of) Finance Authority (Northwestern University); Subseries 2008 B, VRD RB^(b)		0.20%		12/01/2046		5,730	5,730,000
Illinois (State of) Finance Authority (Uhlich Children’s Home); Series 2002, VRD IDR (LOC - U.S. Bank N.A.)^(b)(c)		0.20%		10/01/2033		2,625	2,625,000
Illinois (State of) Housing Development Authority (Foxview I & II Apartments); Series 2008, VRD MFH RB (LOC - FHLMC)^(b)(c)		0.13%		01/01/2041		4,160	4,160,000
							17,515,000

Indiana-1.83%
Huntington (City of), IN (Huntington University); Series 2007, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(b)(c)		0.25%		08/01/2037		3,105	3,105,000

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

23 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
Iowa-1.65%
Iowa (State of) Finance Authority (CJ Bio America); Series 2021, Ref. VRD RB^(a)(b)(d)		0.24%		12/01/2041	$	2,805	$ 2,805,000

Louisiana-3.64%
Louisiana (State of) Offshore Terminal Authority Deepwater Port (Loop LLC); Series 2013 B, Ref. VRD RB (LOC - JPMorgan Chase Bank N.A.)^(b)(c)		0.23%		09/01/2033		1,000	1,000,000
Louisiana (State of) Public Facilities Authority (CHRISTUS Health);
Series 2009 B-3, Ref. VRD RB (LOC - Bank of New York Mellon (The))^(b)(c)		0.21%		07/01/2047		4,085	4,085,000
Series 2009 B-1, Ref. VRD RB (LOC - Bank of New York Mellon (The))^(b)(c)		0.21%		07/01/2047		1,100	1,100,000
							6,185,000

Maryland-0.59%
Montgomery (County of), MD; Series 2010 B, Commercial Paper Notes		0.10%		03/01/2022		1,000	1,000,000

Massachusetts-4.71%
Massachusetts (State of) Department of Transportation; Series 2010 A-1, VRD Metropolitan Highway System RB (LOC - Citibank N.A.)^(b)(c)		0.16%		01/01/2037		3,000	3,000,000
Massachusetts (State of) Health & Educational Facilities Authority; Series 2021 EE, Commercial Paper Notes		0.09%		03/01/2022		5,000	5,000,000
							8,000,000

Michigan-3.15%
Kent (County of), MI Hospital Finance Authority (Spectrum Health System); Series 2008 C, Ref. VRD RB (LOC - Bank of New York Mellon (The))^(b)(c)		0.21%		01/15/2026		820	820,000
Michigan State University Board of Trustees;
Series 2000 A-1, VRD RB^(b)		0.21%		08/15/2030		3,620	3,620,000
Series 2000 A-2, VRD RB^(b)		0.21%		08/15/2030		910	910,000
							5,350,000

Minnesota-5.82%
Burnsville (City of), MN (Bridgeway Apartments L.P.); Series 2003, Ref. VRD RB (CEP - FNMA)^(b)		0.28%		10/15/2033		1,175	1,175,000
Oak Park Heights (City of), MN (Boutwells Landing); Series 2005, Ref. VRD RB (CEP - FHLMC)^(b)		0.19%		11/01/2035		3,700	3,700,000
St. Paul (City of), MN Housing & Redevelopment Authority (Highland Ridge, L.P.); Series 2003, Ref. VRD RB (CEP - FHLMC)^(b)		0.19%		10/01/2033		1,000	1,000,000
University of Minnesota; Series 2022 H, Commercial Paper Notes		0.26%		03/17/2022		4,000	4,000,000
							9,875,000

Mississippi-1.95%
Mississippi Business Finance Corp. (Chevron U.S.A., Inc.);
Series 2010 C, VRD IDR^(b)		0.22%		12/01/2030		585	585,000
Series 2010 E, VRD IDR^(b)		0.22%		12/01/2030		2,730	2,730,000
							3,315,000

Missouri-1.59%
Bridgeton (City of), MO Industrial Development Authority (Stolze Printing); Series 2010, VRD RB (LOC - FHLB of Chicago)^(b)(c)		0.20%		11/01/2037		1,320	1,320,000
Missouri (State of) Development Finance Board (Kopytek Printing); Series 2010, VRD IDR (LOC - FHLB of Chicago)^(b)(c)		0.35%		08/01/2038		1,385	1,385,000
							2,705,000

New Jersey-2.94%
New Jersey (State of) Health Care Facilities Financing Authority (Virtua Health); Series 2009 D, VRD RB (LOC - TD Bank N.A.)^(a)(b)(c)		0.18%		07/01/2043		5,000	5,000,000

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

24 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
New York-4.08%
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.19%		11/15/2046	$	3,320	$ 3,320,000
New York (State of) Energy Research & Development Authority (Consolidated Edison Co. of New York, Inc.); Subseries 2005 A-2, VRD RB (LOC - Mizuho Bank Ltd.)^(a)(b)(c)		0.19%		05/01/2039		3,600	3,600,000
							6,920,000

North Carolina-0.76%
North Carolina (State of) Educational Facilities Finance Agency (Duke University); Series 1992 A, VRD RB^(b)		0.15%		06/01/2027		1,285	1,285,000

Ohio-1.67%
Lorain (County of), OH Port Authority (St. Ignatius High School); Series 2008, VRD RB (LOC - U.S. Bank N.A.)^(b)(c)		0.20%		08/02/2038		2,835	2,835,000

Pennsylvania-1.55%
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.19%		06/01/2037		1,320	1,320,000
Lebanon (County of), PA Health Facilities Authority (E.C.C. Retirement Village); Series 2000, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.20%		10/15/2025		310	310,000
Philadelphia (City of), PA; Series 2022 A, Commercial Paper Notes^(a)		0.35%		03/24/2022		1,000	1,000,000
							2,630,000

Rhode Island-2.65%
Rhode Island Health & Educational Building Corp. (Brown University); Series 2003 B, VRD RB^(b)		0.21%		09/01/2043		4,500	4,500,000

Texas-19.92%
Board of Regents of the University of Texas System; Series 2008 B, VRD RB^(b)		0.17%		08/01/2025		1,615	1,615,000
Garland (City of), TX; Series 2021, Commercial Paper Notes		0.13%		04/05/2022		5,000	5,000,000
Harris (County of), TX Hospital District; Series 2010, Ref. VRD RB (LOC - JPMorgan Chase Bank N.A.)^(b)(c)		0.21%		02/15/2042		5,700	5,700,000
Houston (City of), TX; Series 2018 E-2, GO Commercial Paper Notes		0.22%		03/16/2022		4,000	4,000,000
Houston (City of), TX (Combined Utility System); Series 2004 B-3, Ref. VRD RB (LOC - Sumitomo Mitsui Banking Corp.)^(a)(b)(c)		0.21%		05/15/2034		5,250	5,250,000
San Gabriel Health Facilities Development Corp. (YMCA of Greater Williamson County); Series 2005, VRD RB (LOC - JPMorgan Chase Bank N.A.)^(b)(c)		0.24%		04/01/2026		1,890	1,890,000
Texas (State of) Department of Housing & Community Affairs (Costa Mariposa Apartments); Series 2009, VRD RB (CEP - FHLMC)^(b)		0.26%		05/01/2042		2,375	2,375,000
Texas A&M University System Board of Regents; Series 2021 B, Commercial Paper Notes		0.14%		06/02/2022		5,000	5,000,000
University of Texas Board of Regents; Series 2018, Revenue Financing System Commercial Paper Notes		0.29%		04/06/2022		3,000	3,000,000
							33,830,000

Virginia-2.53%
Norfolk (City of), VA; Series 2007, VRD GO Bonds^(b)		0.21%		08/01/2037		4,300	4,300,000

Washington-3.25%
Washington (State of) Housing Finance Commission (Kitts Corner Apartments); Series 2014, VRD RB (LOC - FHLB of San Francisco)^(b)(c)		0.13%		09/01/2049		3,375	3,375,000
Washington (State of) Housing Finance Commission (Redmond Ridge Apartments); Series 2017, VRD RB (LOC - FHLB of San Francisco)^(b)(c)		0.13%		11/01/2047		2,145	2,145,000
							5,520,000

West Virginia-4.29%
Cabell (County of), WV (Provident Group - Marshall Properties LLC - Marshall University); Series 2010 A, VRD RB (LOC - Bank of America N.A.)^(b)(c)		0.21%		07/01/2039		845	845,000

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

25 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
West Virginia-(continued)
West Virginia (State of) Hospital Finance Authority (Cabell Huntington Hospital, Inc.); Series 2008 B, Ref. VRD RB (LOC - Branch Banking & Trust Co.)^(b)(c)		0.27%		01/01/2034	$	6,445	$ 6,445,000
							7,290,000

Wisconsin-1.90%
Lima (Town of), WI (Sharon S. Richardson Community Hospice, Inc.); Series 2009, VRD RB (LOC - FHLB of Chicago)^(b)(c)		0.21%		10/01/2042		3,230	3,230,000
TOTAL INVESTMENTS IN SECURITIES^(e)(f)-99.97% (Cost $169,755,000)							169,755,000
OTHER ASSETS LESS LIABILITIES-0.03%							54,772
NET ASSETS-100.00%							$169,809,772

Investment Abbreviations:


CEP		- Credit Enhancement Provider
FHLB		- Federal Home Loan Bank
FHLMC		- Federal Home Loan Mortgage Corp.
FNMA		- Federal National Mortgage Association
GO		- General Obligation
IDR		- Industrial Development Revenue Bonds
LOC		- Letter of Credit
MFH		- Multi-Family Housing
RB		- Revenue Bonds
Ref.		- Refunding
VRD		- Variable Rate Demand

Notes to Schedule of Investments:

^(a)	The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: Canada: 5.7%; Japan: 5.2%; other countries less than 5% each: 5.5%.

^(b)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(c)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(d)

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 value of this security at February 28, 2022 represented 1.65% of the Fund’s Net Assets.

^(e)	Also represents cost for federal income tax purposes.

^(f)


Entities		Percentage
PNC Bank N.A.		8.3%
Federal Home Loan Banks		6.8
Federal Home Loan Mortgage Corporation		6.6
Wells Fargo Bank N.A.		5.7
JPMorgan Chase Bank, N.A.		5.1

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

26 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7		87.0%
8-30		5.3
31-60		4.7
61-90		0.0
91-180		3.0
181+		0.0

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

27 Short-Term Investments Trust

Statements of Assets and Liabilities

February 28, 2022

(Unaudited)


												Invesco Treasury			Invesco Tax-Free
	Invesco Liquid			Invesco STIC			Invesco Treasury			Invesco Government		Obligations			Cash Reserve
	Assets Portfolio			Prime Portfolio			Portfolio			& Agency Portfolio		Portfolio			Portfolio

Assets:

Investments in unaffiliated securities, at value	$	1,690,271,922		$	191,977,496		$	13,165,027,105		$	42,264,669,258	$	1,385,607,752		$	169,755,000


Repurchase agreements, at value and cost		550,898,981			84,326,230			9,643,911,550			21,680,938,904		-			-


Cash		-			-			-			-		37,752			-


Receivable for:

Fund shares sold		-			-			2,845			108,705		-			-

Interest		155,860			8,158			13,433,654			29,052,274		73,642			22,965

Fund expenses absorbed		106,833			33,665			1,417,208			2,190,429		109,348			87,930


Investment for trustee deferred compensation and retirement plans		3,524,447			951,741			2,115,902			963,666		102,725			329,541


Other assets		-			132,217			447,526			588,715		792			31,227

Total assets		2,244,958,043			277,429,507			22,826,355,790			63,978,511,951		1,385,932,011			170,226,663


Liabilities:

Payable for:

Investments purchased		29,986,825			13,993,951			898,693,915			2,846,428,808		168,883,059			-

Fund shares reacquired		-			-			12,000			24,638,227		-			-

Amount due custodian		-			-			1,574,127			1,508,529		-			-

Dividends		12,043			2,307			174,513			1,218,332		9,461			1,333

Accrued fees to affiliates		332,171			45,296			3,646,596			7,134,843		165,808			33,290

Accrued trustees’ and officers’ fees and benefits		5,730			3,681			29,867			69,304		4,476			3,395

Accrued operating expenses		28,399			5,900			282,157			288,795		35,540			30,140


Trustee deferred compensation and retirement plans		3,750,354			1,006,111			2,394,342			1,221,442		117,140			348,733

Total liabilities		34,115,522			15,057,246			906,807,517			2,882,508,280		169,215,484			416,891


Net assets applicable to shares outstanding	$	2,210,842,521		$	262,372,261		$	21,919,548,273		$	61,096,003,671	$	1,216,716,527		$	169,809,772


Net assets consist of:

Shares of beneficial interest	$	2,214,068,700		$	263,115,662		$	21,920,415,657		$	61,095,416,116	$	1,216,782,664		$	170,089,160


Distributable earnings (loss)		(3,226,179	)		(743,401	)		(867,384	)		587,555		(66,137	)		(279,388	)


	$	2,210,842,521		$	262,372,261		$	21,919,548,273		$	61,096,003,671	$	1,216,716,527		$	169,809,772


Net Assets:

Institutional Class	$	2,204,979,174		$	261,269,078		$	18,241,859,039		$	53,964,770,211	$	1,098,426,693		$	135,656,602


Private Investment Class	$	2,885,966		$	473,512		$	312,889,460		$	562,429,844	$	13,703,576		$	11,700,511


Personal Investment Class	$	10,246		$	92,856		$	379,824,634		$	15,716,834	$	10,077,798		$	1,333,813


Cash Management Class	$	2,385,218		$	428,281		$	476,970,117		$	956,426,056	$	78,410		$	4,202,044


Reserve Class	$	211,505		$	87,041		$	1,678,474,426		$	538,091,162	$	90,998,450		$	15,429,661


Resource Class	$	247,323		$	385		$	38,293,629		$	134,028,878	$	98,111		$	1,476,862


Corporate Class	$	23,129		$	21,108		$	279,646,266		$	1,018,276,963	$	3,333,489		$	10,279


CAVU Securities Class	$	99,960		$	-		$	511,590,702		$	3,906,263,723	$	-		$	-

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

28 Short-Term Investments Trust

Statements of Assets and Liabilities–(continued)

February 28, 2022

(Unaudited)


									Invesco Treasury		Invesco Tax-Free
	Invesco Liquid		Invesco STIC		Invesco Treasury		Invesco Government		Obligations		Cash Reserve
	Assets Portfolio		Prime Portfolio		Portfolio		& Agency Portfolio		Portfolio		Portfolio

Shares outstanding, no par value, unlimited number of shares authorized:

Institutional Class		2,205,019,784		261,262,354		18,240,410,505		53,964,110,943		1,098,435,692		135,636,048


Private Investment Class		2,886,030		473,500		312,866,402		562,417,907		13,703,762		11,698,732


Personal Investment Class		10,246		92,854		379,787,513		15,716,633		10,077,890		1,333,647


Cash Management Class		2,385,270		428,270		476,928,857		956,415,735		78,412		4,201,456


Reserve Class		211,509		87,039		1,678,353,435		538,081,580		90,998,347		15,427,388


Resource Class		247,328		385		38,290,367		134,025,688		98,112		1,476,639


Corporate Class		23,130		21,107		279,625,136		1,018,275,908		3,333,522		10,277


CAVU Securities Class		99,962		-		511,545,921		3,906,258,431		-		-


Net asset value, offering and redemption price per share for each class	$	1.0000	$	1.0000	$	1.00	$	1.00	$	1.00	$	1.00


Cost of Investments	$	2,241,779,487	$	276,300,889	$	22,808,938,655	$	63,945,608,162	$	1,385,607,752	$	169,755,000

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

29 Short-Term Investments Trust

Statements of Operations

For the six months ended February 28, 2022

(Unaudited)


													Invesco Treasury			Invesco Tax-Free
	Invesco Liquid			Invesco STIC			Invesco Treasury			Invesco Government			Obligations			Cash Reserve
	Assets Portfolio			Prime Portfolio			Portfolio			& Agency Portfolio			Portfolio			Portfolio

Investment income:

Interest	$	1,870,765		$	163,870		$	9,396,711		$	22,014,594		$	446,063		$	64,820


Expenses:

Advisory fees		1,538,049			194,005			16,592,349			27,022,435			701,350			156,141


Administrative services fees		461,582			57,036			4,949,534			11,947,185			221,111			34,579


Custodian fees		26,384			9,192			203,379			186,726			5,734			2,572


Distribution fees:
Private Investment Class		4,297			832			431,096			813,131			17,946			13,527

Personal Investment Class		27			253			868,352			29,956			18,366			3,039

Cash Management Class		1,037			196			192,510			360,118			60			1,764

Reserve Class		925			375			5,311,944			2,244,581			286,523			71,520

Resource Class		291			-			47,971			100,170			78			1,171

Corporate Class		4			3			39,942			129,084			549			2


Transfer agent fees		92,283			11,640			995,541			2,432,019			46,385			7,026


Trustees’ and officers’ fees and benefits		15,799			9,952			81,950			201,650			12,307			9,447


Registration and filing fees		53,276			41,241			472,941			393,620			69,312			51,606


Reports to shareholders		8,372			6,367			31,453			26,728			6,900			13,302


Professional services fees		27,007			21,757			80,198			137,188			24,164			21,099


Other		65,381			33,080			206,536			302,178			56,799			16,536

Total expenses		2,294,714			385,929			30,505,696			46,326,769			1,467,584			403,331


Less: Fees waived and expenses reimbursed		(547,540	)		(235,281	)		(22,239,477	)		(31,376,941	)		(1,075,990	)		(346,495	)

Net expenses		1,747,174			150,648			8,266,219			14,949,828			391,594			56,836


Net investment income		123,591			13,222			1,130,492			7,064,766			54,469			7,984

Realized and unrealized gain (loss) from:

Net realized gain (loss) from unaffiliated investment securities		3,959			18			337,662			26,979			(17,701	)		-


Change in net unrealized appreciation (depreciation) of unaffiliated investment securities		(771,504	)		3,071			-			-			-			-


Net realized and unrealized gain (loss)		(767,545	)		3,089			337,662			26,979			(17,701	)		-


Net increase (decrease) in net assets resulting from operations	$	(643,954	)	$	16,311		$	1,468,154		$	7,091,745		$	36,768		$	7,984

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

30 Short-Term Investments Trust

Statements of Changes in Net Assets

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Liquid Assets Portfolio						Invesco STIC Prime Portfolio

	February 28, 2022			August 31, 2021			February 28, 2022			August 31, 2021
Operations:
Net investment income	$	123,591		$	1,034,618		$	13,222		$	24,474

Net realized gain		3,959			2,613			18			552

Change in net unrealized appreciation (depreciation)		(771,504	)		(496,709	)		3,071			(2,800	)

Net increase (decrease) in net assets resulting from operations		(643,954	)		540,522			16,311			22,226


Distributions to shareholders from distributable earnings:
Institutional Class		(123,275	)		(1,033,839	)		(13,153	)		(24,275	)

Private Investment Class		(146	)		(318	)		(29	)		(92	)

Personal Investment Class		(2	)		(4	)		(6	)		(31	)

Cash Management Class		(133	)		(359	)		(25	)		(52	)

Reserve Class		(12	)		(29	)		(5	)		(11	)

Resource Class		(15	)		(40	)		(2	)		(9	)

Corporate Class		(2	)		(13	)		(2	)		(4	)

CAVU Securities Class		(6	)		(16	)		-			-

Total distributions from distributable earnings		(123,591	)		(1,034,618	)		(13,222	)		(24,474	)


Share transactions-net:
Institutional Class		(150,618,800	)		(201,574,311	)		39,548,244			(99,033,118	)

Private Investment Class		(5,137	)		(648,893	)		(131,663	)		(671,036	)

Personal Investment Class		-			-			4			(302,491	)

Cash Management Class		(535,901	)		(24,434	)		(67,764	)		(7,793	)

Reserve Class		(4,019	)		(62,582	)		4			(18,402	)

Resource Class		(114,813	)		(3,337	)		-			(122,205	)

Corporate Class		1			(15,522	)		1			4

CAVU Securities Class		-			100,002			-			-

Net increase (decrease) in net assets resulting from share transactions		(151,278,669	)		(202,229,077	)		39,348,826			(100,155,041	)

Net increase (decrease) in net assets		(152,046,214	)		(202,723,173	)		39,351,915			(100,157,289	)


Net assets:
Beginning of period		2,362,888,735			2,565,611,908			223,020,346			323,177,635

End of period	$	2,210,842,521		$	2,362,888,735		$	262,372,261		$	223,020,346

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

31 Short-Term Investments Trust

Statements of Changes in Net Assets–(continued)

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Treasury Portfolio						Invesco Government & Agency Portfolio

	February 28, 2022			August 31, 2021			February 28, 2022			August 31, 2021

Operations:
Net investment income	$	1,130,492		$	2,248,785		$	7,064,766		$	9,964,680

Net realized gain		337,662			30,818			26,979			542,485

Net increase in net assets resulting from operations		1,468,154			2,279,603			7,091,745			10,507,165


Distributions to shareholders from distributable earnings:
Institutional Class		(945,945	)		(2,005,555	)		(6,302,258	)		(9,402,663	)

Private Investment Class		(14,688	)		(35,458	)		(70,237	)		(120,583	)

Personal Investment Class		(16,136	)		(28,813	)		(1,412	)		(2,025	)

Cash Management Class		(24,596	)		(42,921	)		(116,654	)		(128,425	)

Reserve Class		(62,399	)		(62,101	)		(66,860	)		(105,814	)

Resource Class		(3,065	)		(18,705	)		(16,225	)		(32,727	)

Corporate Class		(13,608	)		(41,758	)		(111,510	)		(52,287	)

CAVU Securities Class		(50,055	)		(13,474	)		(379,610	)		(120,156	)

Total distributions from distributable earnings		(1,130,492	)		(2,248,785	)		(7,064,766	)		(9,964,680	)


Share transactions-net:
Institutional Class		1,148,575,944			(2,122,806,791	)		4,500,540,880			19,204,558,855

Private Investment Class		9,041,045			(118,976,592	)		56,459,453			(76,121,055	)

Personal Investment Class		114,699,804			(16,713,545	)		6,356,607			(4,169,839	)

Cash Management Class		24,738,287			80,255,547			208,470,000			316,471,282

Reserve Class		810,639,856			286,064,751			129,590,895			7,054,623

Resource Class		(14,916,921	)		(582,467,587	)		16,126,918			(25,248,184	)

Corporate Class		13,096,491			(867,085,822	)		(63,819,670	)		1,050,827,823

CAVU Securities Class		(35,495,020	)		547,040,941			2,464,408,750			1,441,849,681

Net increase (decrease) in net assets resulting from share transactions		2,070,379,486			(2,794,689,098	)		7,318,133,833			21,915,223,186

Net increase (decrease) in net assets		2,070,717,148			(2,794,658,280	)		7,318,160,812			21,915,765,671


Net assets:
Beginning of period		19,848,831,125			22,643,489,405			53,777,842,859			31,862,077,188

End of period	$	21,919,548,273		$	19,848,831,125		$	61,096,003,671		$	53,777,842,859

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

32 Short-Term Investments Trust

Statements of Changes in Net Assets–(continued)

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Treasury Obligations Portfolio						Invesco Tax-Free Cash Reserve Portfolio

	February 28, 2022			August 31, 2021			February 28, 2022			August 31, 2021

Operations:
Net investment income	$	54,469		$	133,186		$	7,984		$	17,194

Net realized gain (loss)		(17,701	)		47,304			-			-

Net increase in net assets resulting from operations		36,768			180,490			7,984			17,194


Distributions to shareholders from distributable earnings:
Institutional Class		(49,822	)		(123,225	)		(6,227	)		(12,978	)

Private Investment Class		(735	)		(1,559	)		(554	)		(1,039	)

Personal Investment Class		(342	)		(128	)		(58	)		(195	)

Cash Management Class		(9	)		(29	)		(226	)		(490	)

Reserve Class		(3,367	)		(7,454	)		(841	)		(2,280	)

Resource Class		(6	)		(17	)		(76	)		(208	)

Corporate Class		(188	)		(774	)		(2	)		(4	)

Total distributions from distributable earnings		(54,469	)		(133,186	)		(7,984	)		(17,194	)


Share transactions-net:
Institutional Class		35,131,360			(306,942,642	)		17,389,193			(32,730,801	)

Private Investment Class		(941,007	)		220,502			2,145,705			(580,210	)

Personal Investment Class		6,265,217			3,070,903			(343,131	)		(1,906,614	)

Cash Management Class		(174,584	)		(87,640	)		(394,386	)		(893,331	)

Reserve Class		16,504,842			19,907,010			(795,898	)		(10,596,705	)

Resource Class		5			(51,953	)		70			(1,527,247	)

Corporate Class		(1,699,796	)		(5,409,097	)		-			-

Net increase (decrease) in net assets resulting from share transactions		55,086,037			(289,292,917	)		18,001,553			(48,234,908	)

Net increase (decrease) in net assets		55,068,336			(289,245,613	)		18,001,553			(48,234,908	)


Net assets:
Beginning of period		1,161,648,191			1,450,893,804			151,808,219			200,043,127

End of period	$	1,216,716,527		$	1,161,648,191		$	169,809,772		$	151,808,219

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

33 Short-Term Investments Trust

Financial Highlights

(Unaudited)

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

Personal Investment Class


	Net asset value, beginning of period			Net investment income^(a)			Net gains (losses) on securities (both realized and unrealized)				Total from investment operations				Dividends from net investment income				Distributions from net realized gains				Total distributions				Net asset value, end of period			Total return^(b)			Net assets, end of period (000’s omitted)			Ratio of expenses to average net assets with fee waivers and/or expense reimbursements			Ratio of expenses to average net assets without fee waivers and/or expense reimbursements			Ratio of net investment income to average net assets
Invesco Liquid Assets Portfolio
Six months ended 02/28/22		$	1.0004		$	0.0001		$	(0.0004	)		$	(0.0003	)		$	(0.0001	)		$	-			$	(0.0001	)		$	1.0000		(0.03	)%		$	10		0.17	%^(c)		0.76	%^(c)		0.01	%^(c)
Year ended 08/31/21			1.0006			0.0004			(0.0005	)			(0.0001	)			(0.0001	)			-				(0.0001	)			1.0004		(0.01	)			10		0.21			0.77			0.01
Year ended 08/31/20			1.0004			0.0081			(0.0008	)			0.0073				(0.0071	)			-				(0.0071	)			1.0006		0.74				10		0.64			0.77			0.80
Year ended 08/31/19			1.0004			0.0182			0.0000				0.0182				(0.0182	)			-				(0.0182	)			1.0004		1.83				10		0.73			0.77			1.82
Year ended 08/31/18			1.0002			0.0118			(0.0011	)			0.0107				(0.0105	)			-				(0.0105	)			1.0004		1.07				11		0.73			0.78			1.18
Year ended 08/31/17			1.00			0.0019			0.0019				0.0038				(0.0031	)			(0.0005	)			(0.0036	)			1.0002		0.35				11		0.50			0.81			0.19
Invesco STIC Prime Portfolio
Six months ended 02/28/22			1.0000			0.0001			0.0000				0.0001				(0.0001	)			-				(0.0001	)			1.0000		0.01				93		0.12	^(c)		0.85	^(c)		0.01	^(c)
Year ended 08/31/21			1.0000			0.0001			(0.0000	)			0.0001				(0.0001	)			-				(0.0001	)			1.0000		0.01				93		0.13			0.85			0.01
Year ended 08/31/20			1.0001			0.0075			(0.0012	)			0.0063				(0.0064	)			-				(0.0064	)			1.0000		0.65				395		0.59			0.81			0.75
Year ended 08/31/19			1.0001			0.0171			0.0001				0.0172				(0.0172	)			-				(0.0172	)			1.0001		1.73				441		0.73			0.80			1.71
Year ended 08/31/18			1.0000			0.0100			(0.0002	)			0.0098				(0.0097	)			-				(0.0097	)			1.0001		0.99				616		0.73			0.82			1.00
Year ended 08/31/17			1.00			0.0042			(0.0010	)			0.0032				(0.0032	)			-				(0.0032	)			1.0000		0.32				611		0.38			0.82			0.42
Invesco Treasury Portfolio
Six months ended 02/28/22			1.00			0.00			0.00				0.00				(0.00	)			-				(0.00	)			1.00		0.01				379,825		0.07	^(c)		0.76	^(c)		0.01	^(c)
Year ended 08/31/21			1.00			0.00			0.00				0.00				(0.00	)			-				(0.00	)			1.00		0.01				265,106		0.10			0.76			0.01
Year ended 08/31/20			1.00			0.01			0.00				0.01				(0.01	)			(0.00	)			(0.01	)			1.00		0.56				281,818		0.55			0.76			0.49
Year ended 08/31/19			1.00			0.02			0.00				0.02				(0.02	)			-				(0.02	)			1.00		1.64				360,256		0.73			0.76			1.63
Year ended 08/31/18			1.00			0.01			0.00				0.01				(0.01	)			-				(0.01	)			1.00		0.83				117,875		0.71			0.75			0.84
Year ended 08/31/17			1.00			0.00			0.00				0.00				(0.00	)			-				(0.00	)			1.00		0.20				140,236		0.50			0.75			0.20
Invesco Government & Agency Portfolio
Six months ended 02/28/22			1.00			0.00			0.00				0.00				(0.00	)			-				(0.00	)			1.00		0.01				15,717		0.06	^(c)		0.71	^(c)		0.02	^(c)
Year ended 08/31/21			1.00			0.00			0.00				0.00				(0.00	)			-				(0.00	)			1.00		0.02				9,360		0.08			0.71			0.02
Year ended 08/31/20			1.00			0.01			(0.00	)			0.01				(0.01	)			(0.00	)			(0.01	)			1.00		0.58				13,530		0.50			0.70			0.50
Year ended 08/31/19			1.00			0.02			0.00				0.02				(0.02	)			-				(0.02	)			1.00		1.66				15,992		0.71			0.71			1.65
Year ended 08/31/18			1.00			0.01			0.00				0.01				(0.01	)			-				(0.01	)			1.00		0.84				8,321		0.68			0.70			0.82
Year ended 08/31/17			1.00			0.00			(0.00	)			0.00				(0.00	)			-				(0.00	)			1.00		0.23				21,129		0.49			0.70			0.24
Invesco Treasury Obligations Portfolio
Six months ended 02/28/22			1.00			0.00			(0.00	)			0.00				(0.00	)			-				(0.00	)			1.00		0.01				10,078		0.08	^(c)		0.77	^(c)		0.01	^(c)
Year ended 08/31/21			1.00			0.00			0.00				0.00				(0.00	)			-				(0.00	)			1.00		0.01				3,813		0.10			0.76			0.01
Year ended 08/31/20			1.00			0.01			(0.00	)			0.01				(0.01	)			-				(0.01	)			1.00		0.56				742		0.37			0.75			0.65
Year ended 08/31/19			1.00			0.02			0.00				0.02				(0.02	)			-				(0.02	)			1.00		1.62				112		0.73			0.76			1.60
Year ended 08/31/18			1.00			0.01			0.00				0.01				(0.01	)			-				(0.01	)			1.00		0.82				395		0.71			0.76			0.81
Year ended 08/31/17			1.00			0.00			(0.00	)			0.00				(0.00	)			-				(0.00	)			1.00		0.21				48		0.25			0.77			0.41
Invesco Tax-Free Cash Reserve Portfolio
Six months ended 02/28/22			1.00			0.00			-				0.00				(0.00	)			-				(0.00	)			1.00		0.01				1,334		0.07	^(c)		0.95	^(c)		0.01	^(c)
Year ended 08/31/21			1.00			0.00			-				0.00				(0.00	)			-				(0.00	)			1.00		0.01				1,677		0.07			0.95			0.01
Year ended 08/31/20			1.00			0.00			-				0.00				(0.00	)			-				(0.00	)			1.00		0.41				3,584		0.48			0.89			0.47
Year ended 08/31/19			1.00			0.01			-				0.01				(0.01	)			-				(0.01	)			1.00		0.83				2,542		0.75			0.90			0.83
Year ended 08/31/18			1.00			0.01			(0.00	)			0.01				(0.01	)			-				(0.01	)			1.00		0.54				10		0.60			0.93			0.61
Year ended 08/31/17			1.00			0.00			(0.00	)			0.00				(0.00	)			-				(0.00	)			1.00		0.33				2,006		0.44			0.92			0.32

^(a)	Calculated using average shares outstanding.

^(b)	Includes adjustments in accordance with accounting principles generally accepted in the United States of America and is not annualized for periods less than one year.

^(c)	Annualized.

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

34 Short-Term Investments Trust

Notes to Financial Statements

February 28, 2022

(Unaudited)

NOTE 1–Significant Accounting Policies

Invesco Liquid Assets Portfolio determines its NAV per share multiple times each day.

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

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.

B.	Securities Transactions and Investment Income — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is

35 Short-Term Investments Trust

recorded on the accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.

D.	Distributions - It is the policy of the Funds to declare dividends from net investment income daily and pay dividends on the first business day of the following month. Each Fund generally distributes net realized capital gain (including net short-term capital gain), if any, annually.

Repurchase Agreements – The Funds may enter into repurchase agreements. Collateral on repurchase agreements, including each Fund’s pro-rata interest in joint repurchase agreements, is taken into possession by such Funds upon entering into the repurchase agreement. Collateral consisting of U.S. Government Securities and U.S. Government Sponsored Agency Securities is marked to market daily to ensure its market value is at least 102% of the sales price of the repurchase agreement. Collateral consisting of non-government securities is marked to market daily to ensure its market value is at least 105% of the sales price of the repurchase agreement. The investments in some repurchase agreements, pursuant to procedures approved by the Board of Trustees, are through participation with other mutual funds, private accounts and certain non-registered investment companies managed by the investment advisor or its affiliates (“Joint repurchase agreements”). The principal amount of the repurchase agreement is equal to the value at period-end. If the seller of a repurchase agreement fails to repurchase the security in accordance with the terms of the agreement, the Funds might incur expenses in enforcing their rights, and could experience losses, including a decline in the value of the collateral and loss of income.

36 Short-Term Investments Trust

There is some risk that a portion or all of the interest received from certain tax-free municipal securities could become taxable as a result of determinations by the Internal Revenue Service.

NOTE 2–Advisory Fees and Other Fees Paid to Affiliates


	First	Next	Over
	$250 million	$250 million	$500 million
Invesco Liquid Assets Portfolio	0.15%	0.15%	0.15%
Invesco STIC Prime Portfolio	0.15%	0.15%	0.15%
Invesco Treasury Portfolio	0.15%	0.15%	0.15%
Invesco Government & Agency Portfolio	0.10%	0.10%	0.10%
Invesco Treasury Obligations Portfolio	0.20%	0.15%	0.10%
Invesco Tax-Free Cash Reserve Portfolio	0.20%	0.20%	0.20%

For the six months ended February 28, 2022, the management fee incurred for each Fund was equivalent to the annual effective rate of each Fund’s average daily net assets, as shown below:


Invesco Liquid Assets Portfolio	0.15	%
Invesco STIC Prime Portfolio	0.15	%
Invesco Treasury Portfolio	0.15	%
Invesco Government & Agency Portfolio	0.10	%
Invesco Treasury Obligations Portfolio	0.14	%
Invesco Tax-Free Cash Reserve Portfolio	0.20	%

37 Short-Term Investments Trust


		Private	Personal			Cash												CAVU
	Institutional	Investment	Investment			Management			Reserve			Resource			Corporate			Securities
	Class	Class	Class			Class			Class			Class			Class			Class
Invesco Liquid Assets Portfolio	0.18%	0.48%		0.73	%		0.26	%		1.05	%		0.38	%		0.21	%		0.18	%
Invesco STIC Prime Portfolio	0.18%	0.48%		0.73	%		0.26	%		1.05	%		0.34	%		0.21	%		–
Invesco Treasury Portfolio	0.18%	0.48%		0.73	%		0.26	%		1.05	%		0.34	%		0.21	%		0.18	%
Invesco Government & Agency Portfolio	0.18%	0.48%		0.73	%		0.26	%		1.05	%		0.34	%		0.21	%		0.18	%
Invesco Treasury Obligations Portfolio	0.18%	0.43%		0.73	%		0.26	%		1.05	%		0.34	%		0.21	%		–
Invesco Tax-Free Cash Reserve Portfolio	0.20%	0.45%		0.75	%		0.28	%		1.07	%		0.36	%		0.23	%		–

For the six months ended February 28, 2022, the Adviser waived advisory fees and/or reimbursed Fund expenses, as shown below:


	Expense Limitation
Invesco Liquid Assets Portfolio	$	442,476
Invesco STIC Prime Portfolio		151,463
Invesco Treasury Portfolio		3,703,090
Invesco Government & Agency Portfolio		-
Invesco Treasury Obligations Portfolio		216,359
Invesco Tax-Free Cash Reserve Portfolio		156,166

Voluntary fee waivers for the six months ended February 28, 2022 are shown below:


				Private			Personal			Cash
				Investment			Investment			Management			Reserve			Resource			Corporate
	Fund Level			Class			Class			Class			Class			Class			Class
Invesco Liquid Assets Portfolio		$	98,537		$	4,270		$	27		$	1,014		$	923		$	290		$	3
Invesco STIC Prime Portfolio			82,159			832			253			195			375			-			4
Invesco Treasury Portfolio			11,644,572			431,096			868,352			192,510			5,311,944			47,971			39,942
Invesco Government & Agency Portfolio			27,703,436			812,520			29,939			359,090			2,243,978			100,018			127,960
Invesco Treasury Obligations Portfolio			536,300			17,924			18,350			60			286,375			78			544
Invesco Tax-Free Cash Reserve Portfolio			99,306			13,526			3,039			1,765			71,520			1,171			2

The Trust has entered into a master administrative services agreement with Invesco pursuant to which each Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to such Fund. For the six months ended February 28, 2022, expenses incurred under the agreement are shown in the Statements of Operations as Administrative services fees. Also, Invesco has entered into a sub-administration agreement whereby The Bank of New York Mellon (“BNY Mellon”) serves as fund accountant and provides certain administrative services to the Funds. Pursuant to a custody agreement with the Trust on behalf of the Funds, BNY Mellon also serves as the Fund’s custodian.

38 Short-Term Investments Trust


	Private	Personal	Cash
	Investment	Investment	Management			Reserve			Resource			Corporate
	Class	Class	Class			Class			Class			Class
Invesco Liquid Assets Portfolio	0.30%	0.55%		0.08	%		0.87	%		0.20	%		0.03	%
Invesco STIC Prime Portfolio	0.30%	0.55%		0.08	%		0.87	%		0.16	%		0.03	%
Invesco Treasury Portfolio	0.30%	0.55%		0.08	%		0.87	%		0.16	%		0.03	%
Invesco Government & Agency Portfolio	0.30%	0.55%		0.08	%		0.87	%		0.16	%		0.03	%
Invesco Treasury Obligations Portfolio	0.25%	0.55%		0.08	%		0.87	%		0.16	%		0.03	%
Invesco Tax-Free Cash Reserve Portfolio	0.25%	0.55%		0.08	%		0.87	%		0.16	%		0.03	%

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

NOTE 3–Additional Valuation Information


Level 1 –		Prices are determined using quoted prices in an active market for identical assets.
Level 2 –		Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.
Level 3 –		Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect each Fund’s own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

NOTE 4–Security Transactions with Affiliated Funds


	Securities Purchases			Securities Sales			Net Realized Gains
Invesco Liquid Assets Portfolio		$	22,055,624		$	16,400,013		$	-
Invesco STIC Prime Portfolio			8,610,216			8,200,189			-
Invesco Tax-Free Cash Reserve Portfolio			91,949,282			79,264,665			-

NOTE 5–Trustees’ and Officers’ Fees and Benefits

39 Short-Term Investments Trust

NOTE 6–Cash Balances

NOTE 7–Tax Information

The Funds had a capital loss carryforward as of August 31, 2021, as follows:


	Not Subject to
Fund	Expiration			Total*
Invesco Liquid Assets Portfolio		$	13,010		$	13,010
Invesco Treasury Obligations Portfolio			13,241			13,241
Invesco Tax-Free Cash Reserve Portfolio			19,092			19,092

*	Capital loss carryforwards are 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 cost and the net unrealized appreciation (depreciation) of investments for tax purposes are as follows:


	At February 28, 2022
											Net
											Unrealized
	Federal			Unrealized			Unrealized				Appreciation
	Tax Cost*			Appreciation			(Depreciation)				(Depreciation)
Invesco Liquid Assets Portfolio		$	2,241,779,487		$	23,265		$	(631,849	)		$	(608,584	)
Invesco STIC Prime Portfolio			276,300,889			2,906			(69	)			2,837
Invesco Treasury Portfolio			22,808,970,667			-			(32,012	)			(32,012	)
Invesco Government & Agency Portfolio			63,945,609,329			-			(1,167	)			(1,167	)
Invesco Treasury Obligations Portfolio			1,385,630,403			-			(22,651	)			(22,651	)

NOTE 9–Share Information

Invesco Liquid Assets Portfolio


	Summary of Share Activity
	Six months ended				Year ended
	February 28, 2022^(a)				August 31, 2021
	Shares		Amount		Shares		Amount
Sold:
Institutional Class		7,928,057,646	$	7,929,890,259		17,486,805,323	$	17,494,025,296
Private Investment Class		1		1		371,715		371,900
Cash Management Class		-		-		6,058		6,061
Reserve Class		7,065		7,068		79,579		79,611
Corporate Class		-		-		1,001		1,001
CAVU Securities Class^(b)		-		-		99,962		100,002

40 Short-Term Investments Trust

NOTE 9–Share Information–(continued)


	Summary of Share Activity

	Six months ended						Year ended
	February 28, 2022^(a)						August 31, 2021
	Shares			Amount			Shares			Amount


Issued as reinvestment of dividends:
Institutional Class		3,067		$	3,067			182,613		$	182,698

Private Investment Class		92			92			207			207

Cash Management Class		133			133			359			359

Reserve Class		11			11			28			28

Resource Class		15			15			37			37

Corporate Class		2			2			13			13


Reacquired:
Institutional Class		(8,078,548,249	)		(8,080,512,126	)		(17,688,475,913	)		(17,695,782,305	)

Private Investment Class		(5,228	)		(5,230	)		(1,020,552	)		(1,021,000	)

Cash Management Class		(535,874	)		(536,034	)		(30,840	)		(30,854	)

Reserve Class		(11,095	)		(11,098	)		(142,165	)		(142,221	)

Resource Class		(114,793	)		(114,828	)		(3,373	)		(3,374	)

Corporate Class		(1	)		(1	)		(16,529	)		(16,536	)

Net increase (decrease) in share activity		(151,147,208	)	$	(151,278,669	)		(202,142,477	)	$	(202,229,077	)

^(a)	59% of the outstanding shares of the Fund are owned by the Adviser or an affiliate of the Adviser.

^(b)	Commencement date of December 18, 2020.

41 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco STIC Prime Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		705,814,165		$	705,814,165			1,439,605,312		$	1,439,605,312

Private Investment Class		9,001			9,001			17,500			17,500

Personal Investment Class		23			23			-			-

Cash Management Class		-			-			7,472			7,472

Reserve Class		1			1			4			4

Corporate Class		-			-			1,000			1,000


Issued as reinvestment of dividends:
Institutional Class		6,536			6,536			14,063			14,063

Private Investment Class		29			29			91			91

Personal Investment Class		4			4			27			27

Cash Management Class		7			7			15			15

Reserve Class		4			4			7			7

Resource Class		-			-			7			7

Corporate Class		1			1			4			4


Reacquired:
Institutional Class		(666,272,457	)		(666,272,457	)		(1,538,652,493	)		(1,538,652,493	)

Private Investment Class		(140,693	)		(140,693	)		(688,627	)		(688,627	)

Personal Investment Class		(23	)		(23	)		(302,518	)		(302,518	)

Cash Management Class		(67,771	)		(67,771	)		(15,280	)		(15,280	)

Reserve Class		(1	)		(1	)		(18,413	)		(18,413	)

Resource Class		-			-			(122,212	)		(122,212	)

Corporate Class		-			-			(1,000	)		(1,000	)

Net increase (decrease) in share activity		39,348,826		$	39,348,826			(100,155,041	)	$	(100,155,041	)

^(a)

42 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Treasury Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		63,116,124,261		$	63,116,124,261			209,389,908,080		$	209,389,908,080

Private Investment Class		436,581,760			436,581,760			564,708,648			564,708,648

Personal Investment Class		1,082,049,227			1,082,049,227			1,460,181,973			1,460,181,973

Cash Management Class		868,464,400			868,464,400			834,202,437			834,202,437

Reserve Class		1,633,245,975			1,633,245,975			2,267,218,779			2,267,218,779

Resource Class		96,775,732			96,775,732			271,542,723			271,542,723

Corporate Class		1,534,950,883			1,534,950,883			4,259,846,179			4,259,846,179

CAVU Securities Class^(b)		6,259,349,230			6,259,349,230			1,619,862,326			1,619,862,326


Issued as reinvestment of dividends:
Institutional Class		232,641			232,641			497,496			497,496

Private Investment Class		5,404			5,404			11,961			11,961

Personal Investment Class		14,389			14,389			28,558			28,558

Cash Management Class		23,399			23,399			39,490			39,490

Reserve Class		55,622			55,622			56,643			56,643

Resource Class		3,065			3,065			4,380			4,380

Corporate Class		5,818			5,818			26,745			26,745

CAVU Securities Class		175			175			-			-


Reacquired:
Institutional Class		(61,967,780,958	)		(61,967,780,958	)		(211,513,212,367	)		(211,513,212,367	)

Private Investment Class		(427,546,119	)		(427,546,119	)		(683,697,201	)		(683,697,201	)

Personal Investment Class		(967,363,812	)		(967,363,812	)		(1,476,924,076	)		(1,476,924,076	)

Cash Management Class		(843,749,512	)		(843,749,512	)		(753,986,380	)		(753,986,380	)

Reserve Class		(822,661,741	)		(822,661,741	)		(1,981,210,671	)		(1,981,210,671	)

Resource Class		(111,695,718	)		(111,695,718	)		(854,014,690	)		(854,014,690	)

Corporate Class		(1,521,860,210	)		(1,521,860,210	)		(5,126,958,746	)		(5,126,958,746	)

CAVU Securities Class		(6,294,844,425	)		(6,294,844,425	)		(1,072,821,385	)		(1,072,821,385	)

Net increase (decrease) in share activity		2,070,379,486		$	2,070,379,486			(2,794,689,098	)	$	(2,794,689,098	)

^(a)

^(b)	Commencement date of December 18, 2020.

43 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Government & Agency Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		162,483,965,647		$	162,483,965,647			287,998,117,369		$	287,998,117,369

Private Investment Class		739,731,866			739,731,866			1,566,476,737			1,566,476,737

Personal Investment Class		16,597,262			16,597,262			8,460,874			8,460,874

Cash Management Class		502,774,048			502,774,048			1,020,500,616			1,020,500,616

Reserve Class		1,286,100,892			1,286,100,892			1,184,114,517			1,184,114,517

Resource Class		575,440,585			575,440,585			1,448,949,173			1,448,949,173

Corporate Class		4,225,553,621			4,225,553,621			2,472,495,311			2,472,495,311

CAVU Securities Class^(b)		24,758,726,005			24,758,726,005			11,182,358,336			11,182,358,336


Issued as reinvestment of dividends:
Institutional Class		1,500,984			1,500,984			2,364,199			2,364,199

Private Investment Class		42,484			42,484			77,027			77,027

Personal Investment Class		1,075			1,075			1,664			1,664

Cash Management Class		42,314			42,314			62,947			62,947

Reserve Class		62,697			62,697			96,732			96,732

Resource Class		13,444			13,444			22,306			22,306

Corporate Class		99,960			99,960			20,996			20,996

CAVU Securities Class		231,219			231,219			68,987			68,987


Reacquired:
Institutional Class		(157,984,925,751	)		(157,984,925,751	)		(268,795,922,713	)		(268,795,922,713	)

Private Investment Class		(683,314,897	)		(683,314,897	)		(1,642,674,819	)		(1,642,674,819	)

Personal Investment Class		(10,241,730	)		(10,241,730	)		(12,632,377	)		(12,632,377	)

Cash Management Class		(294,346,362	)		(294,346,362	)		(704,092,281	)		(704,092,281	)

Reserve Class		(1,156,572,694	)		(1,156,572,694	)		(1,177,156,626	)		(1,177,156,626	)

Resource Class		(559,327,111	)		(559,327,111	)		(1,474,219,663	)		(1,474,219,663	)

Corporate Class		(4,289,473,251	)		(4,289,473,251	)		(1,421,688,484	)		(1,421,688,484	)

CAVU Securities Class		(22,294,548,474	)		(22,294,548,474	)		(9,740,577,642	)		(9,740,577,642	)

Net increase in share activity		7,318,133,833		$	7,318,133,833			21,915,223,186		$	21,915,223,186

^(a)

^(b)	Commencement date of December 18, 2020.

44 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Treasury Obligations Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		775,170,129		$	775,170,129			1,758,486,047		$	1,758,486,047

Private Investment Class		714,387			714,387			8,037,650			8,037,650

Personal Investment Class		7,077,364			7,077,364			6,051,798			6,051,798

Reserve Class		114,819,967			114,819,967			332,356,357			332,356,357

Resource Class		5			5			52,034			52,034

Corporate Class		-			-			129			129


Issued as reinvestment of dividends:
Institutional Class		11,379			11,379			69,137			69,137

Private Investment Class		735			735			1,543			1,543

Personal Investment Class		280			280			102			102

Cash Management Class		8			8			27			27

Reserve Class		3,241			3,241			7,165			7,165

Resource Class		-			-			3			3

Corporate Class		188			188			774			774


Reacquired:
Institutional Class		(740,050,148	)		(740,050,148	)		(2,065,497,826	)		(2,065,497,826	)

Private Investment Class		(1,656,129	)		(1,656,129	)		(7,818,691	)		(7,818,691	)

Personal Investment Class		(812,427	)		(812,427	)		(2,980,997	)		(2,980,997	)

Cash Management Class		(174,592	)		(174,592	)		(87,667	)		(87,667	)

Reserve Class		(98,318,366	)		(98,318,366	)		(312,456,512	)		(312,456,512	)

Resource Class		-			-			(103,990	)		(103,990	)

Corporate Class		(1,699,984	)		(1,699,984	)		(5,410,000	)		(5,410,000	)

Net increase (decrease) in share activity		55,086,037		$	55,086,037			(289,292,917	)	$	(289,292,917	)

^(a)

In addition, 55% of the outstanding shares of the Fund are owned by the Adviser or an affiliate of the Adviser.

45 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Tax-Free Cash Reserve Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		91,534,335		$	91,534,335			147,021,640		$	147,021,640

Private Investment Class		4,227,638			4,227,638			2,274,008			2,274,008

Personal Investment Class		2,540,401			2,540,401			7,107,975			7,107,975

Cash Management Class		2,600,250			2,600,250			6,420,817			6,420,817

Reserve Class		21,321,081			21,321,081			28,135,345			28,135,345

Resource Class		-			-			394,392			394,392


Issued as reinvestment of dividends:
Institutional Class		3,153			3,153			7,749			7,749

Private Investment Class		437			437			832			832

Personal Investment Class		57			57			195			195

Cash Management Class		82			82			230			230

Reserve Class		836			836			2,280			2,280

Resource Class		70			70			205			205


Reacquired:
Institutional Class		(74,148,295	)		(74,148,295	)		(179,760,190	)		(179,760,190	)

Private Investment Class		(2,082,370	)		(2,082,370	)		(2,855,050	)		(2,855,050	)

Personal Investment Class		(2,883,589	)		(2,883,589	)		(9,014,784	)		(9,014,784	)

Cash Management Class		(2,994,718	)		(2,994,718	)		(7,314,378	)		(7,314,378	)

Reserve Class		(22,117,815	)		(22,117,815	)		(38,734,330	)		(38,734,330	)

Resource Class		-			-			(1,921,844	)		(1,921,844	)

Net increase (decrease) in share activity		18,001,553		$	18,001,553			(48,234,908	)	$	(48,234,908	)

^(a)

46 Short-Term Investments Trust

Calculating your ongoing Fund expenses

Example

As a shareholder in the Personal Investment Class, you incur ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period September 1, 2021 through February 28, 2022.

Actual expenses

Hypothetical example for comparison purposes


				HYPOTHETICAL
		ACTUAL		(5% annual return before expenses)
Personal Investment Class	Beginning Account Value (09/01/21)	Ending Account Value (02/28/22)¹	Expenses Paid During Period²	Ending Account Value (02/28/22)	Expenses Paid During Period²	Annualized Expense Ratio
Invesco Liquid Assets Portfolio	$1,000.00	$999.70	$0.84	$1,023.95	$0.85	0.17%
Invesco STIC Prime Portfolio	1,000.00	1,000.10	0.60	1,024.20	0.60	0.12
Invesco Treasury Portfolio	1,000.00	1,000.10	0.35	1,024.45	0.35	0.07
Invesco Government & Agency Portfolio	1,000.00	1,000.10	0.30	1,024.50	0.30	0.06
Invesco Treasury Obligations Portfolio	1,000.00	1,000.10	0.40	1,024.40	0.40	0.08
Invesco Tax-Free Cash Reserve Portfolio	1,000.00	1,000.10	0.35	1,024.45	0.35	0.07

²	Expenses are equal to each Fund’s annualized expense ratio as indicated above multiplied by the average account value over the period, multiplied by 181/365 to reflect the most recent fiscal half year.

47 Short-Term Investments Trust

Invesco mailing information

Send general correspondence to Invesco Investment Services, Inc., P.O. Box 219078, Kansas City, MO 64121-9078.

Important notice regarding delivery of security holder documents

Fund holdings and proxy voting information

LOGO


SEC file numbers: 811-02729 and 002-58287		Invesco Distributors, Inc.		CM-STIT-SAR-6

LOGO


Semiannual Report to Shareholders		February 28, 2022

Reserve Class

Short-Term Investments Trust (STIT)

Invesco Liquid Assets Portfolio

Invesco STIC Prime Portfolio

Invesco Treasury Portfolio

Invesco Government & Agency Portfolio

Invesco Treasury Obligations Portfolio

Invesco Tax-Free Cash Reserve Portfolio


2		Fund Data
3		Schedules of Investments
28		Financial Statements
34		Financial Highlights
35		Notes to Financial Statements
47		Fund Expenses

Unless otherwise stated, information presented in this report is as of February 28, 2022, and is based on total net assets. Unless otherwise stated, all data provided by Invesco.

NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE

Fund Data

Reserve Class data as of 2/28/22

FUND

WEIGHTED

TOTAL

AVERAGE

NET

MATURITY

LIFE

ASSETS

Range

During

Reporting

Period

End

Invesco Liquid Assets¹

23 - 52 days

23 days

52 days

$211.5 thousand

Invesco STIC Prime¹

3 - 13 days

6 days

7 days

87.0 thousand

Invesco Treasury²

45 - 57 days

51 days

103 days

1.7 billion

Invesco Government & Agency²

32 - 53 days

47 days

100 days

538.1 million

Invesco Treasury Obligations²

31 - 55 days

38 days

83 days

91.0 million

Invesco Tax-Free Cash Reserve³

9 - 15 days

11 days

15.4 million

2 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)			Value
Commercial Paper-36.48%^(a)
Asset-Backed Securities - Fully Supported-2.71%
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.17%		04/13/2022		$	10,000	$ 9,996,724
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.25%		05/06/2022			50,000	49,960,732
								59,957,456

Asset-Backed Securities - Fully Supported Bank-5.88%
Anglesea Funding LLC (Multi - CEP’s)^(b)(c)		0.13%		03/03/2022			10,000	9,999,921
Anglesea Funding PLC (Multi - CEP’s) (OBFR + 0.10%)^(b)(c)(d)		0.17%		05/20/2022			25,000	25,003,750
Bedford Row Funding Corp. (CEP - Royal Bank of Canada) (1 mo. FEDL + 0.12%)^(b)(c)(d)		0.20%		09/01/2022			20,000	19,998,483
Ebury Finance LLC (Multi - CEP’s), (SOFR + 0.15%)^(b)(c)(d)		0.20%		05/23/2022			50,000	50,000,583
Versailles Commercial Paper LLC (CEP - Natixis S.A.) (SOFR + 0.16%)^(b)(c)(d)		0.21%		08/02/2022			25,000	25,000,098
								130,002,835

Diversified Banks-21.08%
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(b)(c)(d)		0.25%		05/16/2022			30,000	30,000,937
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(b)(c)(d)		0.25%		05/20/2022			25,000	25,000,822
ANZ New Zealand (Int’l) Ltd.^(b)(c)		0.17%		04/04/2022			23,700	23,695,783
ANZ New Zealand (Int’l) Ltd.^(b)(c)		0.34%		10/03/2022			30,000	29,831,463
Barclays Bank PLC (SOFR + 0.16%)^(b)(c)(d)		0.21%		07/01/2022			60,000	60,003,023
Industrial & Commercial Bank of China Ltd.^(b)(c)		0.15%		03/15/2022			50,000	49,997,437
Kookmin Bank^(b)(c)		0.20%		03/17/2022			20,000	19,999,226
Mitsubishi UFJ Trust & Banking Corp.^(b)(c)		0.26%		04/13/2022			15,000	14,995,637
National Australia Bank Ltd. (SOFR + 0.17%)^(b)(c)(d)		0.22%		07/25/2022			50,000	50,003,019
NRW Bank^(b)(c)		0.00%		04/01/2022			30,000	29,986,667
Royal Bank of Canada^(b)(c)		0.20%		06/16/2022			15,000	14,974,125
Svenska Handelsbanken AB^(b)(c)		0.34%		11/03/2022			22,850	22,690,700
Toronto-Dominion Bank (The)^(b)(c)		0.21%		06/22/2022			25,000	24,952,262
Toronto-Dominion Bank (The) (1 mo. FEDL + 0.10%)^(b)(c)(d)		0.18%		07/08/2022			10,000	9,999,109
Toronto-Dominion Bank (The) (1 mo. FEDL + 0.10%)^(b)(c)(d)		0.18%		09/06/2022			10,000	9,997,669
United Overseas Bank Ltd.^(b)(c)		0.25%		06/09/2022			50,000	49,922,146
								466,050,025

Diversified Capital Markets-2.71%
UBS AG^(b)(c)		0.25%		08/18/2022			30,000	29,895,263
UBS AG (SOFR + 0.17%)^(b)(c)(d)		0.22%		09/21/2022			30,000	29,987,712
								59,882,975

Investment Banking & Brokerage-1.35%
Goldman Sachs International^(b)		0.45%		11/15/2022			30,000	29,768,383

Regional Banks-2.30%
ASB Finance Ltd.^(b)(c)		0.25%		03/18/2022			20,920	20,919,216
ASB Finance Ltd.^(b)(c)		0.21%		07/08/2022			30,000	29,931,208
								50,850,424

Specialized Finance-0.45%
Great Bear Funding LLC (OBFR + 0.15%)^(c)(d)		0.22%		07/01/2022			10,000	10,001,500
Total Commercial Paper (Cost $807,086,551)								806,513,598

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

3 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value

Certificates of Deposit-34.73%
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(c)(d)		0.25%		05/11/2022	$	10,000	$ 10,001,239
ANZ New Zealand (Int’l) Ltd.^(c)		0.07%		03/01/2022		55,000	55,000,000
Bank of Montreal^(c)		0.21%		06/24/2022		10,000	9,987,430
Bank of Nova Scotia (The) (SOFR + 0.11%)^(c)(d)		0.16%		04/20/2022		50,000	50,004,956
Canadian Imperial Bank of Commerce^(c)		0.07%		03/01/2022		38,000	38,000,000
Canadian Imperial Bank of Commerce (1 mo. FEDL + 0.10%)^(c)(d)		0.18%		06/08/2022		50,000	49,997,973
Cooperatieve Rabobank U.A.^(c)		0.07%		03/01/2022		105,000	105,000,000
DZ Bank AG Deutsche Zentral-Genossenschaftsbank^(c)		0.06%		03/01/2022		95,000	95,000,000
Goldman Sachs Bank USA (SOFR + 0.21%)^(d)		0.26%		09/16/2022		30,000	29,999,999
Nordea Bank Abp^(c)		0.06%		03/01/2022		95,000	95,000,000
Skandinaviska Enskilda Banken AB^(c)		0.06%		03/01/2022		95,000	95,000,000
Svenska Handelsbanken AB^(c)		0.06%		03/01/2022		75,000	75,000,000
Westpac Banking Corp. (SOFR + 0.13%)^(c)(d)		0.18%		07/15/2022		55,000	54,994,856
Westpac Banking Corp.^(c)		0.44%		11/23/2022		5,000	4,976,872
Total Certificates of Deposit (Cost $767,998,956)							767,963,325

Variable Rate Demand Notes-5.24%^(e)
Credit Enhanced-5.24%
Capital Area Housing Finance Corp. (Cypress Creek at River Apartments); Series 2006, VRD MFH RB (LOC - Citibank N.A.)^(f)(g)		0.23%		10/01/2039		2,400	2,400,000
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(g)		0.19%		06/01/2037		3,055	3,055,000
Jets Stadium Development LLC; Series 2014 A-4B, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)^(b)(c)(g)		0.26%		04/01/2047		9,200	9,199,999
Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank N.A.)^(g)		0.22%		05/01/2037		2,500	2,500,000
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(g)		0.19%		11/15/2046		11,180	11,180,000
Sarasota (County of), FL Public Hospital District (Sarasota Memorial Hospital); Series 2008 B, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(g)		0.20%		07/01/2037		5,420	5,420,000
University of Texas System Board of Regents; Subseries 2016 G-2, VRD RB		0.16%		08/01/2045		82,040	82,040,000
Total Variable Rate Demand Notes (Cost $115,794,999)							115,794,999
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-76.45% (Cost $1,690,880,506)							1,690,271,922

					Repurchase
					Amount
Repurchase Agreements-24.92%^(h)
BMO Capital Markets Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $100,003,111 (collateralized by U.S government sponsored agency obligations, domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $103,576,455; 0.00% - 8.88%; 04/25/2022 - 06/20/2071)^(c)(i)		0.16%		03/01/2022		27,000,840	27,000,000
BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $150,004,958 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $157,182,535; 0.00% - 8.20%; 02/13/2023 - 12/16/2062)^(c)(i)		0.17%		03/02/2022		15,000,496	15,000,000

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

4 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


	Interest		Maturity		Repurchase
	Rate		Date		Amount		Value
BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $25,001,069 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $26,546,588; 0.00% - 10.00%; 12/07/2021 - 12/20/2065)^(c)(i)		0.22%		03/02/2022	$	10,000,428	$ 10,000,000
Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic and foreign non-agency asset-backed securities and domestic non-agency mortgage-backed securities valued at $203,598,357; 1.17% - 7.06%; 10/25/2026 -02/15/2039)^(j)		0.56%		03/01/2022		8,003,451	8,000,000
Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic non-agency asset-backed securities, domestic corporate obligations and domestic non-agency mortgage-backed securities valued at $55,045,612; 1.87% -7.38%; 03/25/2026 - 06/01/2044)^(j)		0.55%		03/01/2022		35,014,963	35,000,000
Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic non-agency mortgage-backed securities valued at $55,143,137; 1.94% -5.80%; 01/25/2030 - 12/15/2038)^(j)		0.54%		03/01/2022		10,004,197	10,000,000
Credit Agricole Corporate & Investment Bank, joint term agreement dated 02/22/2022, aggregate maturing value of $240,006,067 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations, domestic non-agency mortgage-backed securities and U.S. Treasury obligations valued at $246,893,829; 0.00% - 7.75%; 04/07/2022 - 05/01/2079)^(c)(i)		0.13%		03/01/2022		20,000,506	20,000,000
Credit Suisse Securities (USA) LLC, joint term agreement dated 02/23/2022, aggregate maturing value of $90,003,500 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities and domestic and foreign corporate obligations valued at $98,998,378; 0.00% - 15.98%; 04/22/2022 - 09/27/2060)^(c)(i)		0.20%		03/02/2022		25,000,972	25,000,000
Credit Suisse Securities (USA) LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $10,000,095 (collateralized by domestic non-agency mortgage-backed securities valued at $10,500,001; 1.38% - 4.74%; 12/15/2046 - 01/20/2051)^(c)(k)		0.34%		03/01/2022		2,000,019	2,000,000
J.P. Morgan Securities LLC, joint open agreement dated 04/28/2020 (collateralized by domestic and corporate obligations valued at $109,999,955; 0.00% - 10.88%; 04/30/2022 - 11/03/2037)^(j)		0.37%		03/01/2022		65,018,706	65,000,000
J.P. Morgan Securities LLC, joint open agreement dated 09/18/2020 (collateralized by domestic and foreign equity securities valued at $15,753,313; 0.00% - 8.50%; 10/31/2026 - 01/31/2028)^(j)		0.27%		03/01/2022		7,001,470	7,000,000
J.P. Morgan Securities LLC, open agreement dated 11/01/2021 (collateralized by a domestic agency mortgage-backed security and domestic non-agency mortgage-backed securities valued at $15,750,000; 0.22% - 3.36%; 06/15/2031 - 04/27/2065)^(j)		0.43%		03/01/2022		15,005,004	15,000,000
Mitsubishi UFJ Trust & Banking Corp., joint open agreement dated 02/23/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations, domestic and foreign commercial paper and a U.S. Treasury obligation valued at $51,697,846; 0.00% - 8.50%; 03/01/2022 - 01/15/2082)^(c)(j)		0.20%		03/01/2022		25,003,889	25,000,000
Mizuho Securities (USA) LLC, joint open agreement dated 12/30/2021 (collateralized by domestic and foreign equity securities valued at $52,500,215; 0.00%)^(c)(j)		0.22%		03/01/2022		28,000,171	28,000,000
RBC Capital Markets LLC, joint term agreement dated 02/23/2022, aggregate maturing value of $155,005,726 (collateralized by domestic and foreign corporate obligations valued at $170,310,340; 0.00% - 13.00%; 03/15/2022 - 05/15/2097)^(c)(i)		0.19%		03/02/2022		20,000,739	20,000,000
Societe Generale, joint open agreement dated 08/06/2019 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and domestic non-agency mortgage-backed securities valued at $78,729,067; 0.34% -13.00%; 03/15/2022 - 12/15/2072)^(c)(j)		0.25%		03/01/2022		25,000,174	25,000,000
Societe Generale, joint open agreement dated 08/20/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations and a domestic non-agency mortgage-backed security valued at $91,931,202; 0.98% -10.13%; 01/05/2023 - 03/11/2061)^(c)(j)		0.18%		03/01/2022		65,000,325	65,000,000

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

5 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


	Interest		Maturity		Repurchase
	Rate		Date		Amount		Value

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)		0.06%		03/01/2022	$	148,899,229	$	148,898,981

Total Repurchase Agreements (Cost $550,898,981)								550,898,981

TOTAL INVESTMENTS IN SECURITIES^(l)(m)-101.37% (Cost $2,241,779,487)								2,241,170,903

OTHER ASSETS LESS LIABILITIES-(1.37)%								(30,328,382	)

NET ASSETS-100.00%							$	2,210,842,521

Investment Abbreviations:


CEP		-Credit Enhancement Provider
FEDL		-Federal Funds Effective Rate
LOC		-Letter of Credit
MFH		-Multi-Family Housing
OBFR		-Overnight Bank Funding Rate
RB		-Revenue Bonds
Ref.		-Refunding
SOFR		-Secured Overnight Financing Rate
VRD		-Variable Rate Demand

Notes to Schedule of Investments:

^(a)	Securities may be traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.

^(b)

^(c)

^(d)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(e⁾	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(f)	Security subject to the alternative minimum tax.

^(g)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(h)	Principal amount equals value at period end. See Note 1I.

⁽ⁱ⁾	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(j)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(k)	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(l)	Also represents cost for federal income tax purposes.

^(m)	Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer’s obligations but may be called upon to satisfy the issuer’s obligations. No concentration of any single entity was greater than 5% each.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7			51.3%

8-30			4.1

31-60			10.4

61-90			5.2

91-180			20.9

181+			8.1

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

6 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco STIC Prime Portfolio


					Principal
	Interest		Maturity		Amount
	Rate		Date		(000)		Value
Commercial Paper-31.79%^(a)

Asset-Backed Securities - Fully Supported-4.95%
Ionic Capital II Trust (CEP - Citibank N.A.)		0.16%		03/04/2022		$ 8,000	$ 7,999,916
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.29%		04/05/2022		5,000	4,998,955
							12,998,871

Asset-Backed Securities - Fully Supported Bank-13.50%
Concord Minutemen Capital Co. LLC^(b)(c)		0.18%		03/17/2022		5,000	4,999,745
Institutional Secured Funding LLC (Multi - CEP’s)^(b)(c)		0.18%		03/04/2022		7,000	6,999,872
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)^(b)(c)		0.17%		03/16/2022		7,430	7,429,515
Nieuw Amsterdam Receivables Corp. (CEP - Cooperatieve Rabobank U.A.)^(b)(c)		0.17%		03/17/2022		8,000	7,999,490
Sheffield Receivables Co. LLC (CEP - Barclays Bank PLC)^(b)(c)		0.15%		03/11/2022		8,000	7,999,755
							35,428,377

Diversified Banks-13.34%
Agricultural Bank of China Ltd.^(b)(c)		0.18%		03/07/2022		8,000	7,999,759
BNG Bank N.V.^(b)(c)		0.10%		03/01/2022		5,000	4,999,991
Nederlandse Waterschapsbank N.V.^(b)(c)		0.51%		03/31/2022		7,000	6,999,036
NRW Bank^(b)(c)		0.51%		04/01/2022		7,000	6,996,889
Sumitomo Mitsui Trust Bank Ltd.^(b)(c)		0.17%		03/16/2022		8,000	7,999,573
							34,995,248
Total Commercial Paper (Cost $83,419,659)							83,422,496

Certificates of Deposit-25.92%
ANZ New Zealand (Int’l) Ltd.^(c)		0.07%		03/01/2022		12,000	12,000,000
Canadian Imperial Bank of Commerce^(c)		0.07%		03/01/2022		12,000	12,000,000
Cooperatieve Rabobank U.A.^(c)		0.07%		03/01/2022		4,000	4,000,000
DZ Bank AG Deutsche Zentral-Genossenschaftsbank^(c)		0.06%		03/01/2022		10,000	10,000,000
Nordea Bank Abp^(c)		0.06%		03/01/2022		10,000	10,000,000
Skandinaviska Enskilda Banken AB^(c)		0.06%		03/01/2022		10,000	10,000,000
Svenska Handelsbanken AB^(c)		0.06%		03/01/2022		10,000	10,000,000
Total Certificates of Deposit (Cost $68,000,000)							68,000,000

Variable Rate Demand Notes-15.46%^(d)

Credit Enhanced-15.46%
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(e)		0.19%		06/01/2037		5,610	5,610,000
Illinois (State of) Housing Development Authority (Danbury Court Apartments-Phase II); Series 2004 B, VRD MFH RB (LOC - FHLB of Indianapolis)^(e)(f)		0.28%		12/01/2039		730	730,000
Jets Stadium Development LLC; Series 2007 A-4, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)^(b)(e)		0.26%		04/01/2047		7,800	7,800,000
Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank N.A.)^(e)		0.22%		05/01/2037		3,050	3,050,000
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(e)		0.19%		11/15/2046		3,000	3,000,000
Mobile Downtown Redevelopment Authority (The) (Austal USA LLC); Series 2011 B, Ref. VRD RB^(b)		0.22%		05/01/2041		6,000	6,000,000
Ohio (State of) Housing Finance Agency (Wingate at Belle Meadows); Series 2004, VRD RB^(f)		0.15%		10/01/2036		8,205	8,205,000
Portland (Port of), OR (Portland International Airport); Subseries 2008 18-A, Ref. VRD RB (LOC - Industrial & Commercial Bank of China Ltd.)^(c)(e)(f)		0.27%		07/01/2026		570	570,000
Southeast Texas Housing Finance Corp. (Mansions at Moses Lake Apartments); Series 2008, VRD RB (CEP - FHLMC)^(f)		0.26%		06/01/2041		890	890,000

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

7 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco STIC Prime Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value

Credit Enhanced-(continued)
Ziegler Realty LLC; Series 2007, VRD Notes (LOC - Wells Fargo Bank N.A.)^(b)(e)		0.18%		01/01/2033	$	4,700	$	4,700,000

Total Variable Rate Demand Notes (Cost $40,555,000)								40,555,000

TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-73.17% (Cost $191,974,659)								191,977,496


					Repurchase
					Amount
Repurchase Agreements-32.14%^(g)
BMO Capital Markets Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $100,003,111 (collateralized by U.S government sponsored agency obligations, domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $103,576,455; 0.00% - 8.88%; 04/25/2022 - 06/20/2071)^(c)(h)		0.16%		03/01/2022		3,000,093		3,000,000

BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $150,004,958 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $157,182,535; 0.00% - 8.20%; 02/13/2023 - 12/16/2062)^(c)(h)		0.17%		03/02/2022		3,000,099		3,000,000

BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $25,001,069 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $26,546,588; 0.00% - 10.00%; 12/07/2021 - 12/20/2065)^(c)(h)		0.22%		03/02/2022		3,000,128		3,000,000

BofA Securities, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $745,001,035 (collateralized by domestic agency mortgage-backed securities valued at $759,900,001; 0.46% - 7.50%; 09/25/2022 - 01/01/2052)		0.05%		03/01/2022		12,000,017		12,000,000

Citigroup Global Markets, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $400,000,556 (collateralized by U.S. Treasury obligations valued at $408,000,001; 0.00% - 0.13%; 01/15/2023 - 02/15/2051)		0.05%		03/01/2022		12,000,017		12,000,000

Credit Suisse Securities (USA) LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $10,000,095 (collateralized by domestic non-agency mortgage-backed securities valued at $10,500,001; 1.38% - 4.74%; 12/15/2046 - 01/20/2051)^(c)(i)		0.34%		03/01/2022		8,000,076		8,000,000

J.P. Morgan Securities LLC, joint open agreement dated 09/18/2020 (collateralized by domestic and foreign equity securities valued at $15,753,313; 0.00% - 8.50%; 10/31/2026 - 01/31/2028)^(j)		0.27%		03/01/2022		8,001,680		8,000,000

Mitsubishi UFJ Trust & Banking Corp., joint open agreement dated 02/23/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations, domestic and foreign commercial paper and a U.S. Treasury obligation valued at $51,697,846; 0.00% - 8.50%; 03/01/2022 - 01/15/2082)^(c)(j)		0.20%		03/01/2022		7,001,089		7,000,000

Mizuho Securities (USA) LLC, joint open agreement dated 12/30/2021 (collateralized by domestic and foreign equity securities valued at $52,500,215; 0.00%)^(c)(j)		0.22%		03/01/2022		7,000,043		7,000,000

Societe Generale, joint open agreement dated 08/06/2019 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and domestic non-agency mortgage-backed securities valued at $78,729,067; 0.34% - 13.00%; 03/15/2022 - 12/15/2072)^(c)(j)		0.25%		03/01/2022		5,000,035		5,000,000

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)		0.06%		03/01/2022		16,326,257		16,326,230

Total Repurchase Agreements (Cost $84,326,230)								84,326,230

TOTAL INVESTMENTS IN SECURITIES^(k)(l)-105.31% (Cost $276,300,889)								276,303,726

OTHER ASSETS LESS LIABILITIES-(5.31)%								(13,931,465	)

NET ASSETS-100.00%							$	262,372,261

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

8 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco STIC Prime Portfolio–(continued)


Investment Abbreviations:

CEP		-Credit Enhancement Provider
FHLB		-Federal Home Loan Bank
FHLMC		-Federal Home Loan Mortgage Corp.
LOC		-Letter of Credit
MFH		-Multi-Family Housing
RB		-Revenue Bonds
Ref.		-Refunding
VRD		-Variable Rate Demand


Notes to Schedule of Investments:

^(a)		Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.
^(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 February 28, 2022 was $93,922,580, which represented 35.80% of the Fund’s Net Assets.
^(c)		The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: Netherlands: 11.8; Japan: 8.4%; Canada: 8.0%; Sweden: 7.6%; France: 6.6%; Germany: 6.5%; Switzerland: 5.0%; other countries less than 5% each: 14.7%.
^(d)		Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.
^(e)		Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.
^(f)		Security subject to the alternative minimum tax.
^(g)		Principal amount equals value at period end. See Note 1I.
^(h)		The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.
⁽ⁱ⁾		Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.
^(j)		Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.
^(k)		Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer’s obligation but may be called upon to satisfy issuer’s obligations. No concentration of any single entity was greater than 5% each.
^(l)		Also represents cost for federal income tax purposes.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7			75.8%

8-30			13.9

31-60			10.3

61-90			0.0

91-180			0.0

181+			0.0

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

9 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio


					Principal
	Interest		Maturity		Amount
	Rate		Date		(000)		Value
U.S. Treasury Securities-60.06%

U.S. Treasury Bills-31.54%^(a)
U.S. Treasury Bills		0.11%		04/26/2022	$	721,000	$ 720,876,629
U.S. Treasury Bills		0.29%-0.31%		05/12/2022		650,000	649,612,998
U.S. Treasury Bills		0.28%		05/24/2022		225,000	224,855,625
U.S. Treasury Bills		0.38%		05/26/2022		450,000	449,591,499
U.S. Treasury Bills		0.28%-0.29%		05/31/2022		1,200,000	1,199,141,564
U.S. Treasury Bills		0.09%-0.36%		06/02/2022		600,000	599,589,500
U.S. Treasury Bills		0.34%		06/07/2022		527,000	526,512,232
U.S. Treasury Bills		0.07%-0.26%		06/16/2022		535,000	534,676,771
U.S. Treasury Bills		0.55%		06/21/2022		460,000	459,212,889
U.S. Treasury Bills		0.57%		06/28/2022		500,000	499,057,915
U.S. Treasury Bills		0.08%		07/14/2022		150,000	149,957,812
U.S. Treasury Bills		0.11%		08/11/2022		200,000	199,900,842
U.S. Treasury Bills		0.08%-0.12%		09/08/2022		500,000	499,727,295
U.S. Treasury Bills		0.09%		10/06/2022		200,000	199,890,500
							6,912,604,071

U.S. Treasury Floating Rate Notes-15.08%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)		0.47%		04/30/2022		744,000	744,073,587
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		07/31/2022		350,000	350,001,528
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		10/31/2022		355,000	354,993,431
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)		0.41%		01/31/2023		100,000	100,000,000
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		04/30/2023		250,500	250,509,461
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		07/31/2023		627,000	627,019,367
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)		0.40%		10/31/2023		880,000	879,991,372
							3,306,588,746

U.S. Treasury Notes-13.44%
U.S. Treasury Notes		1.75%		03/31/2022		300,000	300,412,035
U.S. Treasury Notes		1.88%		03/31/2022		100,000	100,145,660
U.S. Treasury Notes		1.75%		04/30/2022		200,000	200,549,446
U.S. Treasury Notes		1.75%		06/15/2022		200,000	200,963,044
U.S. Treasury Notes		0.13%		06/30/2022		200,000	200,023,309
U.S. Treasury Notes		1.75%		06/30/2022		100,000	100,547,880
U.S. Treasury Notes		2.13%		06/30/2022		200,000	201,349,336
U.S. Treasury Notes		1.75%		07/15/2022		200,000	201,230,784
U.S. Treasury Notes		0.13%		07/31/2022		200,000	200,033,666
U.S. Treasury Notes		1.88%		07/31/2022		250,000	251,856,731
U.S. Treasury Notes		1.63%		08/15/2022		200,000	201,417,294
U.S. Treasury Notes		1.63%		08/31/2022		150,000	151,137,915
U.S. Treasury Notes		1.50%		09/15/2022		150,000	151,151,255

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

10 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)


						Principal
	Interest			Maturity		Amount
	Rate			Date		(000)		Value
U.S. Treasury Notes-(continued)
U.S. Treasury Notes		1.38	%		10/15/2022	$	200,000	$ 201,613,975
U.S. Treasury Notes		1.88	%		10/31/2022		180,000	182,134,400
U.S. Treasury Notes		2.00	%		10/31/2022		100,000	101,267,558
								2,945,834,288
Total U.S. Treasury Securities (Cost $13,165,027,105)								13,165,027,105

TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-60.06% (Cost $13,165,027,105)								13,165,027,105

						Repurchase
						Amount
Repurchase Agreements-44.00%^(c)
Bank of Nova Scotia, agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by U.S. Treasury obligations valued at $510,000,014; 0.13% - 2.75%; 09/30/2022 - 08/15/2029)		0.05	%		03/01/2022		500,000,694	500,000,000
BofA Securities, Inc., agreement dated 02/28/2022, maturing value of $600,000,833 (collateralized by U.S. Treasury obligations valued at $612,000,010; 1.13% - 7.63%; 11/15/2024 - 05/15/2051)		0.05	%		03/01/2022		600,000,833	600,000,000
CIBC World Markets Corp., joint term agreement dated 02/07/2022, aggregate maturing value of $350,020,319 (collateralized by U.S. Treasury obligations valued at $357,000,019; 0.00% - 4.50%; 07/14/2022 - 02/15/2051)^(d)		0.06	%		03/17/2022		150,008,708	150,000,000
Citigroup Global Markets, Inc., joint term agreement dated 02/22/2022, aggregate maturing value of $300,003,208 (collateralized by U.S. Treasury obligations valued at $306,000,095; 1.25% - 2.25%; 11/15/2022 - 04/30/2028)^(d)		0.06	%		03/01/2022		110,001,176	110,000,000
Credit Agricole Corporate & Investment Bank, joint agreement dated 02/28/2022, aggregate maturing value of $1,250,001,736 (collateralized by U.S. Treasury obligations valued at $1,275,000,039; 0.75% - 2.75%; 05/31/2023 - 09/30/2028)		0.05	%		03/01/2022		950,001,319	950,000,000
Credit Agricole Corporate & Investment Bank, joint open agreement dated 12/01/2021 (collateralized by U.S. Treasury obligations valued at $2,032,860,462; 0.13% - 3.13%; 04/15/2024 - 11/15/2050)^(e)		0.05	%		03/01/2022		450,017,375	450,000,000
DNB Bank ASA, agreement dated 02/28/2022, maturing value of $350,000,486 (collateralized by U.S. Treasury obligations valued at $361,046,466; 0.13% - 1.63%; 07/15/2027 - 07/15/2031)		0.05	%		03/01/2022		350,000,486	350,000,000
Federal Reserve Bank of New York, joint agreement dated 02/28/2022, aggregate maturing value of $800,001,111 (collateralized by U.S. Treasury obligations valued at $800,001,169; 0.13%; 11/30/2022)		0.05	%		03/01/2022		200,000,278	200,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), agreement dated 02/28/2022, maturing value of $1,500,002,083 (collateralized by U.S. Treasury obligations valued at $1,530,000,063; 0.13% - 2.88%; 05/15/2022 - 11/15/2046)		0.05	%		03/01/2022		1,500,002,083	1,500,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), joint agreement dated 02/28/2022, aggregate maturing value of $612,000,085 (collateralized by U.S. Treasury obligations valued at $624,240,130; 0.00%; 08/11/2022)		0.01	%		03/01/2022		200,000,028	200,000,000
Goldman Sachs & Co., agreement dated 02/28/2022, maturing value of $250,000,347 (collateralized by a U.S. Treasury obligation valued at $255,000,014; 1.75%; 11/15/2029)		0.05	%		03/01/2022		250,000,347	250,000,000
ING Financial Markets, LLC, agreement dated 02/28/2022, maturing value of $100,000,139 (collateralized by U.S. Treasury obligations valued at $102,000,056; 0.00% - 1.75%; 05/19/2022 - 02/15/2045)		0.05	%		03/01/2022		100,000,139	100,000,000
J.P. Morgan Securities LLC, joint open agreement dated 03/27/2020 (collateralized by U.S. Treasury obligations valued at $867,001,467; 0.00% -2.38%; 03/03/2022 - 05/15/2050)^(e)		0.05	%		03/01/2022		630,024,325	630,000,000

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

11 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)


	Interest			Maturity		Repurchase
	Rate			Date		Amount		Value

Metropolitan Life Insurance Co., joint term agreement dated 02/23/2022, aggregate maturing value of $350,014,295 (collateralized by U.S. Treasury obligations valued at $358,935,903; 0.00%; 08/15/2027 - 11/15/2045)^(d)		0.07	%		03/02/2022	$	100,004,324	$	100,002,963

Mitsubishi UFJ Trust & Banking Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $768,135,455 (collateralized by U.S. Treasury obligations valued at $788,525,747; 1.13%; 02/28/2025 - 02/28/2027)^(d)		0.07	%		03/02/2022		266,003,621		266,000,000

Mitsubishi UFJ Trust & Banking Corp., term agreement dated 02/23/2022, maturing value of $100,001,167 (collateralized by U.S. Treasury obligations valued at $102,001,081; 0.63% - 1.25%; 08/15/2030 - 08/15/2031)^(d)		0.06	%		03/02/2022		100,001,167		100,000,000

Prudential Insurance Co. of America, agreement dated 02/28/2022, maturing value of $256,312,927 (collateralized by U.S. Treasury obligations valued at $264,258,250; 0.00%; 08/15/2027 - 08/15/2037)		0.06	%		03/01/2022		256,312,927		256,312,500

Prudential Legacy Insurance Company of New Jersey, agreement dated 02/28/2022, maturing value of $348,750,581 (collateralized by U.S. Treasury obligations valued at $361,788,000; 0.00%; 08/15/2033 - 02/15/2045)		0.06	%		03/01/2022		348,750,581		348,750,000

RBC Dominion Securities Inc., joint term agreement dated 02/08/2022, aggregate maturing value of $500,016,667 (collateralized by U.S. Treasury obligations valued at $510,000,124; 0.13% - 6.00%; 07/15/2024 - 02/15/2050)^(d)		0.05	%		03/04/2022		100,003,333		100,000,000

RBC Dominion Securities Inc., joint term agreement dated 02/24/2022, aggregate maturing value of $500,004,861 (collateralized by U.S. Treasury obligations valued at $510,000,087; 0.13% - 5.25%; 04/30/2022 - 02/15/2052)^(d)		0.05	%		03/03/2022		250,002,431		250,000,000

Royal Bank of Canada, joint term agreement dated 02/11/2022, aggregate maturing value of $100,004,583 (collateralized by U.S. Treasury obligations valued at $102,000,076; 0.13% - 2.75%; 05/15/2022 - 11/15/2041)^(d)		0.05	%		03/16/2022		50,002,292		50,000,000

Royal Bank of Canada, term agreement dated 02/23/2022, maturing value of $250,002,431 (collateralized by U.S. Treasury obligations valued at $255,000,061; 0.13% - 2.88%; 05/15/2022 - 11/15/2041)^(d)		0.05	%		03/02/2022		250,002,431		250,000,000

Societe Generale, joint open agreement dated 01/05/2022 (collateralized by U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 7.63%; 03/01/2022 - 02/15/2052)^(e)		0.05	%		03/01/2022		275,000,382		275,000,000

Societe Generale, joint open agreement dated 01/12/2022 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,530,000,206; 0.00% - 7.63%; 03/01/2022 - 10/01/2051)^(e)		0.05	%		03/01/2022		380,000,528		380,000,000

Standard Chartered Bank, agreement dated 02/28/2022, maturing value of $250,000,347 (collateralized by U.S. Treasury obligations valued at $255,000,373; 0.13% - 4.38%; 07/15/2023 - 05/15/2051)		0.05	%		03/01/2022		250,000,347		250,000,000

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,700,003,750 (collateralized by U.S. Treasury obligations valued at $2,754,000,090; 0.38% - 2.88%; 07/31/2022 - 02/15/2051)		0.05	%		03/01/2022		1,027,847,515		1,027,846,087

Total Repurchase Agreements (Cost $9,643,911,550)									9,643,911,550

TOTAL INVESTMENTS IN SECURITIES-104.06% (Cost $22,808,938,655)									22,808,938,655

OTHER ASSETS LESS LIABILITIES-(4.06)%									(889,390,382	)

NET ASSETS-100.00%								$	21,919,548,273

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(c)	Principal amount equals value at period end. See Note 1I.

^(d)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(e)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

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

12 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7		39.9%

8-30		0.0

31-60		5.1

61-90		10.4

91-180		27.7

181+		16.9

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

13 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value

U.S. Treasury Securities-61.01%

U.S. Treasury Bills-43.56%^(a)

U.S. Treasury Bills		0.06%		03/01/2022	$	475,000	$ 475,000,000

U.S. Treasury Bills		0.07%		03/10/2022		750,000	749,986,875

U.S. Treasury Bills		0.08%		03/24/2022		715,000	714,965,740

U.S. Treasury Bills		0.07%		03/29/2022		705,000	704,961,471

U.S. Treasury Bills		0.09%		03/31/2022		815,000	814,942,271

U.S. Treasury Bills		0.25%		04/12/2022		2,011,000	2,010,413,458

U.S. Treasury Bills		0.25%		04/19/2022		3,000,000	2,998,979,164

U.S. Treasury Bills		0.07%		04/21/2022		250,000	249,976,979

U.S. Treasury Bills		0.11%		04/26/2022		1,690,000	1,689,603,342

U.S. Treasury Bills		0.24%		05/05/2022		750,000	749,675,000

U.S. Treasury Bills		0.29%		05/12/2022		1,200,000	1,199,303,997

U.S. Treasury Bills		0.23%		05/17/2022		545,000	544,729,618

U.S. Treasury Bills		0.44%		05/19/2022		500,000	499,517,223

U.S. Treasury Bills		0.25%		05/24/2022		800,000	799,512,917

U.S. Treasury Bills		0.29%		05/31/2022		2,000,000	1,998,572,943

U.S. Treasury Bills		0.09%		06/02/2022		850,000	849,463,625

U.S. Treasury Bills		0.34%		06/07/2022		1,550,000	1,548,572,738

U.S. Treasury Bills		0.11%		06/09/2022		250,000	249,927,083

U.S. Treasury Bills		0.50%		06/14/2022		905,000	903,692,954

U.S. Treasury Bills		0.07%		06/16/2022		400,000	399,917,521

U.S. Treasury Bills		0.55%		06/21/2022		1,565,000	1,562,322,111

U.S. Treasury Bills		0.57%		06/28/2022		1,600,000	1,597,117,141

U.S. Treasury Bills		0.08%		08/11/2022		300,000	299,891,333

U.S. Treasury Bills		0.61%-0.72%		08/25/2022		2,075,000	2,068,206,952

U.S. Treasury Bills		0.08%		09/08/2022		75,000	74,970,156

U.S. Treasury Bills		0.10%		10/06/2022		860,000	859,518,656

							26,613,741,268

U.S. Treasury Floating Rate Notes-8.87%

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)		0.47%		04/30/2022		107,000	107,014,699

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		07/31/2022		287,000	287,008,217

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		10/31/2022		730,000	730,013,539

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)		0.41%		01/31/2023		412,400	412,493,852

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		04/30/2023		1,330,000	1,330,100,459

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		07/31/2023		1,085,000	1,085,029,584

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)		0.40%		10/31/2023		1,238,679	1,238,723,205

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate - 0.02%)^(b)		0.35%		01/31/2024		230,000	229,924,030

							5,420,307,585

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

14 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value

U.S. Treasury Notes-8.58%

U.S. Treasury Notes		2.38%		03/15/2022	$	46,000	$ 46,040,879

U.S. Treasury Notes		1.75%		03/31/2022		650,000	650,895,927

U.S. Treasury Notes		1.88%		03/31/2022		925,000	926,373,709

U.S. Treasury Notes		1.75%		04/30/2022		50,000	50,137,302

U.S. Treasury Notes		1.88%		04/30/2022		150,000	150,446,901

U.S. Treasury Notes		1.75%		05/15/2022		135,000	135,465,164

U.S. Treasury Notes		2.13%		05/15/2022		190,000	190,803,023

U.S. Treasury Notes		1.75%		05/31/2022		50,000	50,209,503

U.S. Treasury Notes		1.75%		06/30/2022		739,243	743,325,465

U.S. Treasury Notes		2.13%		06/30/2022		660,000	664,453,821

U.S. Treasury Notes		1.75%		07/15/2022		625,000	628,878,536

U.S. Treasury Notes		0.13%		07/31/2022		150,000	150,011,557

U.S. Treasury Notes		2.00%		07/31/2022		210,000	211,669,979

U.S. Treasury Notes		1.50%		08/15/2022		140,000	140,910,651

U.S. Treasury Notes		1.63%		08/15/2022		100,000	100,703,676

U.S. Treasury Notes		1.88%		08/31/2022		90,000	90,521,762

U.S. Treasury Notes		1.50%		09/15/2022		210,000	211,598,819

U.S. Treasury Notes		1.75%		09/30/2022		100,000	100,971,671

							5,243,418,345

Total U.S. Treasury Securities (Cost $37,277,467,198)							37,277,467,198

U.S. Government Sponsored Agency Securities-8.16%

Federal Farm Credit Bank (FFCB)-3.16%

Federal Farm Credit Bank (SOFR + 0.08%)^(b)		0.13%		03/10/2022		28,000	28,000,000

Federal Farm Credit Bank (SOFR + 0.09%)^(b)		0.13%		06/17/2022		65,000	65,000,000

Federal Farm Credit Bank (SOFR + 0.20%)^(b)		0.25%		06/23/2022		12,000	12,004,748

Federal Farm Credit Bank (SOFR + 0.19%)^(b)		0.24%		07/14/2022		28,000	28,000,000

Federal Farm Credit Bank (SOFR + 0.15%)^(b)		0.19%		07/28/2022		45,000	45,000,000

Federal Farm Credit Bank (SOFR + 0.07%)^(b)		0.12%		08/11/2022		108,000	108,000,000

Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		08/26/2022		97,500	97,497,588

Federal Farm Credit Bank (SOFR + 0.09%)^(b)		0.13%		10/07/2022		30,000	30,000,000

Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		10/12/2022		18,000	18,000,562

Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		10/21/2022		20,000	20,000,000

Federal Farm Credit Bank (SOFR + 0.08%)^(b)		0.13%		11/03/2022		35,000	35,000,000

Federal Farm Credit Bank (SOFR + 0.01%)^(b)		0.06%		11/16/2022		185,000	184,997,327

Federal Farm Credit Bank (SOFR + 0.07%)^(b)		0.12%		11/18/2022		56,000	56,000,000

Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		12/01/2022		74,000	74,000,000

Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		12/28/2022		350,000	350,000,000

Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		02/09/2023		18,000	18,000,000

Federal Farm Credit Bank (SOFR + 0.02%)^(b)		0.07%		06/12/2023		75,000	75,000,000

Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		06/14/2023		58,000	58,000,000

Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		07/07/2023		143,000	143,000,000

Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.07%		09/08/2023		155,000	155,000,000

Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08%		09/18/2023		21,500	21,500,000

Federal Farm Credit Bank (SOFR + 0.04%)^(b)		0.09%		09/20/2023		25,000	25,000,000

Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.07%		09/27/2023		60,000	60,000,000

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

15 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value

Federal Farm Credit Bank (FFCB)-(continued)

Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.10%		11/07/2023	$	50,000	$ 50,000,000

Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		12/13/2023		84,000	84,000,000

Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		01/10/2024		75,500	75,500,000

Federal Farm Credit Bank (SOFR + 0.04%)^(b)		0.09%		01/25/2024		15,000	15,000,000

							1,931,500,225

Federal Home Loan Bank (FHLB)-4.23%

Federal Home Loan Bank		0.05%		03/17/2022		200,000	199,998,812

Federal Home Loan Bank (SOFR + 0.07%)^(b)		0.12%		04/14/2022		45,000	45,000,000

Federal Home Loan Bank (SOFR + 0.07%)^(b)		0.11%		04/28/2022		28,000	28,000,000

Federal Home Loan Bank		0.06%		05/06/2022		29,000	28,999,425

Federal Home Loan Bank^(a)		0.27%		05/11/2022		244,000	243,872,476

Federal Home Loan Bank (SOFR + 0.06%)^(b)		0.11%		05/12/2022		35,000	35,000,000

Federal Home Loan Bank^(a)		0.40%		05/18/2022		114,800	114,700,507

Federal Home Loan Bank^(a)		0.40%		05/20/2022		1,101,000	1,100,021,333

Federal Home Loan Bank		2.13%		06/10/2022		55,750	56,054,443

Federal Home Loan Bank (SOFR + 0.13%)^(b)		0.18%		08/05/2022		80,000	80,000,000

Federal Home Loan Bank (SOFR + 0.09%)^(b)		0.14%		08/19/2022		380,000	380,003,070

Federal Home Loan Bank (SOFR + 0.09%)^(b)		0.13%		10/05/2022		80,000	80,000,000

Federal Home Loan Bank (SOFR + 0.06%)^(b)		0.11%		12/08/2022		63,200	63,202,161

Federal Home Loan Bank (SOFR + 0.06%)^(b)		0.11%		12/16/2022		3,500	3,500,845

Federal Home Loan Bank (SOFR + 0.03%)^(b)		0.08%		06/07/2023		125,000	125,000,000

							2,583,353,072

Federal Home Loan Mortgage Corp. (FHLMC)-0.40%

Federal Home Loan Mortgage Corp.		0.25%		06/08/2022		15,510	15,517,146

Federal Home Loan Mortgage Corp.		0.13%		07/25/2022		38,000	38,002,165

Federal Home Loan Mortgage Corp. (SOFR + 0.09%)^(b)		0.14%		09/16/2022		190,000	190,000,000

							243,519,311

Federal National Mortgage Association (FNMA)-0.00%

Federal National Mortgage Association^(a)		0.20%		03/09/2022		2,500	2,499,889

U.S. International Development Finance Corp. (DFC)-0.37%

U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		06/15/2025		16,800	16,800,000

U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		07/15/2025		18,278	18,277,780

U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/15/2025		3,947	3,947,368

U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/15/2026		4,750	4,750,000

U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/15/2026		7,917	7,916,667

U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		08/13/2027		8,000	8,000,000

U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		08/13/2027		4,600	4,600,000

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

16 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value

U.S. International Development Finance Corp. (DFC)-(continued)

U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/30/2027	$	12,000	$ 12,000,000

U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		02/15/2028		13,333	13,333,333

U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		11/15/2028		61,364	61,363,637

U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.20%		05/15/2030		7,488	7,488,000

U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		10/15/2030		7,778	7,777,778

U.S. International Development Finance Corp. VRD Notes (3 mo. U.S. Treasury Bill Rate)^(c)		0.16%		07/09/2026		22,950	22,950,000

U.S. International Development Finance Corp. VRD Notes (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		03/15/2030		37,125	37,125,000

							226,329,563

Total U.S. Government Sponsored Agency Securities (Cost $4,987,202,060)							4,987,202,060

TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-69.17% (Cost $42,264,669,258)							42,264,669,258

					Repurchase Amount

Repurchase Agreements-35.49%^(d)

ABN AMRO Bank N.V., agreement dated 02/28/2022, maturing value of $350,000,486 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $357,000,074; 1.30% - 4.50%; 06/30/2022 - 09/16/2063)		0.05%		03/01/2022		350,000,486	350,000,000

ABN AMRO Bank N.V., agreement dated 02/28/2022, maturing value of $450,000,625 (collateralized by U.S. Treasury obligations valued at $459,000,068; 0.13% - 3.38%; 06/30/2022 - 02/15/2051)		0.05%		03/01/2022		450,000,625	450,000,000

Bank of Montreal, joint term agreement dated 02/10/2022, aggregate maturing value of $250,014,583 (collateralized by domestic agency mortgage-backed securities valued at $255,000,000; 2.50% - 4.50%; 11/01/2046 -02/01/2052)^(e)		0.06%		03/17/2022		125,007,292	125,000,000

BNP Paribas Securities Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $500,004,861 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,007; 0.00% - 7.00%; 06/21/2022 - 02/01/2052)^(e)		0.05%		03/01/2022		385,003,743	385,000,000

BofA Securities, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $745,001,035 (collateralized by domestic agency mortgage-backed securities valued at $759,900,001; 0.46% - 7.50%; 09/25/2022 - 01/01/2052)		0.05%		03/01/2022		238,000,331	238,000,000

CIBC World Markets Corp., joint term agreement dated 01/24/2022, aggregate maturing value of $500,043,333 (collateralized by domestic agency mortgage-backed securities valued at $510,000,000; 1.50% - 4.50%; 10/01/2036 - 03/01/2052)^(e)		0.06%		03/17/2022		350,030,333	350,000,000

CIBC World Markets Corp., joint term agreement dated 02/07/2022, aggregate maturing value of $350,020,319 (collateralized by U.S. Treasury obligations valued at $357,000,019; 0.00% - 4.50%; 07/14/2022 - 02/15/2051)^(e)		0.06%		03/17/2022		200,011,611	200,000,000

Citigroup Global Markets, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $400,000,556 (collateralized by U.S. Treasury obligations valued at $408,000,001; 0.00% - 0.13%; 01/15/2023 - 02/15/2051)		0.05%		03/01/2022		113,000,157	113,000,000

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

17 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Repurchase Amount		Value

Citigroup Global Markets, Inc., joint term agreement dated 02/22/2022, aggregate maturing value of $500,005,833 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,029; 0.00% - 17.46%; 07/31/2023 - 07/20/2070)^(e)		0.06%		03/01/2022	$	400,004,667	$ 400,000,000

Credit Agricole Corporate & Investment Bank, agreement dated 02/28/2022, maturing value of $200,000,278 (collateralized by a domestic agency mortgage-backed security valued at $204,000,001; 2.00%; 01/20/2051)		0.05%		03/01/2022		200,000,278	200,000,000

Credit Agricole Corporate & Investment Bank, joint open agreement dated 12/01/2021 (collateralized by U.S. Treasury obligations valued at $2,032,860,462; 0.13% - 3.13%; 04/15/2024 - 11/15/2050)^(f)		0.05%		03/01/2022		1,242,047,955	1,242,000,000

Federal Reserve Bank of New York, joint agreement dated 02/28/2022, aggregate maturing value of $800,001,111 (collateralized by U.S. Treasury obligations valued at $800,001,169; 0.13%; 11/30/2022)		0.05%		03/01/2022		600,000,833	600,000,000

Fixed Income Clearing Corp. - Bank of New York Mellon (The), agreement dated 02/28/2022, maturing value of $3,500,004,861 (collateralized by U.S. Treasury obligations valued at $3,570,000,054; 0.13% - 3.88%; 01/15/2026 - 02/15/2044)		0.05%		03/01/2022		3,500,004,861	3,500,000,000

Fixed Income Clearing Corp. - Bank of New York Mellon (The), joint agreement dated 02/28/2022, aggregate maturing value of $612,000,085 (collateralized by U.S. Treasury obligations valued at $624,240,130; 0.00%; 08/11/2022)		0.01%		03/01/2022		412,000,057	412,000,000

Fixed Income Clearing Corp. - State Street Bank, agreement dated 02/28/2022, maturing value of $300,000,083 (collateralized by U.S. Treasury obligations valued at $306,000,068; 0.13% - 0.47%; 04/15/2022 - 04/30/2022)		0.01%		03/01/2022		300,000,083	300,000,000

Goldman Sachs & Co., agreement dated 02/28/2022, maturing value of $500,000,139 (collateralized by U.S. Treasury obligations valued at $510,000,000; 0.00% - 7.63%; 04/07/2022 - 02/15/2052)		0.01%		03/01/2022		500,000,139	500,000,000

Goldman Sachs & Co., term agreement dated 02/22/2022, maturing value of $295,003,155 (collateralized by U.S. Treasury obligations valued at $300,900,027; 0.00% - 2.50%; 08/15/2022 - 02/28/2026)^(e)		0.06%		03/01/2022		295,003,155	295,000,000

ING Financial Markets, LLC, joint term agreement dated 02/22/2022, aggregate maturing value of $200,008,944 (collateralized by domestic agency mortgage-backed securities valued at $204,000,000; 1.50% - 4.50%; 10/01/2029 - 05/01/2058)		0.07%		03/17/2022		130,005,814	130,000,000

ING Financial Markets, LLC, joint term agreement dated 12/28/2021, aggregate maturing value of $350,070,000 (collateralized by U.S. government sponsored agency obligations and domestic agency mortgage-backed securities valued at $357,000,395; 0.00% - 7.50%; 12/28/2022 - 05/01/2058)		0.08%		03/28/2022		300,060,000	300,000,000

ING Financial Markets, LLC, term agreement dated 02/07/2022, maturing value of $200,010,667 (collateralized by domestic agency mortgage-backed securities valued at $204,000,000; 1.50% - 7.50%; 06/01/2027 - 02/01/2052)		0.06%		03/11/2022		200,010,667	200,000,000

ING Financial Markets, LLC, term agreement dated 02/10/2022, maturing value of $275,013,292 (collateralized by U.S. government sponsored agency obligations and domestic agency mortgage-backed securities valued at $280,500,646; 0.00% - 5.00%; 04/05/2022 - 02/01/2052)		0.06%		03/11/2022		275,013,292	275,000,000

J.P. Morgan Securities LLC, joint agreement dated 02/28/2022, aggregate maturing value of $1,000,001,667 (collateralized by domestic agency mortgage-backed securities valued at $1,020,000,000; 0.46% - 7.50%; 06/25/2025 - 10/16/2062)		0.06%		03/01/2022		800,001,333	800,000,000

J.P. Morgan Securities LLC, joint open agreement dated 03/27/2020 (collateralized by U.S. Treasury obligations valued at $867,001,467; 0.00% - 2.38%; 03/03/2022 - 05/15/2050)^(f)		0.05%		03/01/2022		150,005,792	150,000,000

J.P. Morgan Securities LLC, joint open agreement dated 07/01/2021 (collateralized by domestic agency mortgage-backed securities valued at $239,700,000; 0.47% - 6.00%; 01/01/2026 - 10/15/2061)^(f)		0.06%		03/01/2022		210,009,742	210,000,000

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

18 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Repurchase Amount		Value

J.P. Morgan Securities LLC, joint open agreement dated 07/01/2021 (collateralized by domestic agency mortgage-backed securities valued at $280,500,035; 1.85% - 6.00%; 07/01/2026 - 02/20/2052)^(f)		0.07%		03/01/2022	$	240,013,000	$ 240,000,000

J.P. Morgan Securities LLC, joint open agreement dated 10/15/2019 (collateralized by domestic agency mortgage-backed securities valued at $382,500,005; 0.46% - 7.50%; 12/15/2026 - 02/16/2058)^(f)		0.07%		03/01/2022		275,014,896	275,000,000

Metropolitan Life Insurance Co., joint term agreement dated 02/23/2022, aggregate maturing value of $350,014,295 (collateralized by U.S. Treasury obligations valued at $358,935,903; 0.00%; 08/15/2027 - 11/15/2045)^(e)		0.07%		03/02/2022		170,004,314	170,002,000

Mitsubishi UFJ Trust & Banking Corp., agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by domestic agency mortgage-backed securities valued at $510,000,000; 0.30% - 3.50%; 08/25/2027 - 01/20/2052)		0.05%		03/01/2022		500,000,694	500,000,000

Mitsubishi UFJ Trust & Banking Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $768,135,455 (collateralized by U.S. Treasury obligations valued at $788,525,747; 1.13%; 02/28/2025 - 02/28/2027)^(e)		0.07%		03/02/2022		338,192,103	338,187,500

Mizuho Securities (USA) LLC, agreement dated 02/28/2022, maturing value of $200,000,278 (collateralized by U.S. Treasury obligations valued at $204,000,019; 0.00%; 03/31/2022 - 08/04/2022)		0.05%		03/01/2022		200,000,278	200,000,000

Prudential Insurance Co. of America, agreement dated 02/28/2022, maturing value of $509,883,350 (collateralized by U.S. Treasury obligations valued at $528,644,040; 0.00%; 02/15/2026 - 11/15/2043)		0.06%		03/01/2022		509,883,350	509,882,500

RBC Capital Markets LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $750,001,875 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $765,000,244; 0.13% - 8.00%; 03/01/2022 - 08/20/2065)^(e)(g)		0.09%		03/01/2022		600,001,500	600,000,000

RBC Dominion Securities Inc., agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,049; 0.00% - 5.50%; 07/15/2024 - 01/15/2052)		0.05%		03/01/2022		500,000,694	500,000,000

RBC Dominion Securities Inc., joint term agreement dated 01/11/2022, aggregate maturing value of $500,049,167 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,022; 0.00% - 6.00%; 03/31/2022 - 01/15/2052)^(e)		0.06%		03/11/2022		250,024,583	250,000,000

RBC Dominion Securities Inc., joint term agreement dated 01/19/2022, aggregate maturing value of $1,000,076,389 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 5.50%; 02/15/2030 - 01/15/2052)^(e)		0.06%		03/10/2022		875,066,840	875,000,000

RBC Dominion Securities Inc., joint term agreement dated 02/08/2022, aggregate maturing value of $500,016,667 (collateralized by U.S. Treasury obligations valued at $510,000,124; 0.13% - 6.00%; 07/15/2024 - 02/15/2050)^(e)		0.05%		03/04/2022		200,006,667	200,000,000

RBC Dominion Securities Inc., joint term agreement dated 02/24/2022, aggregate maturing value of $500,004,861 (collateralized by U.S. Treasury obligations valued at $510,000,087; 0.13% - 5.25%; 04/30/2022 - 02/15/2052)^(e)		0.05%		03/03/2022		250,002,431	250,000,000

Royal Bank of Canada, joint term agreement dated 02/11/2022, aggregate maturing value of $100,004,583 (collateralized by U.S. Treasury obligations valued at $102,000,076; 0.13% - 2.75%; 05/15/2022 - 11/15/2041)^(e)		0.05%		03/16/2022		50,002,292	50,000,000

Societe Generale, joint agreement dated 02/28/2022, aggregate maturing value of $1,600,002,222 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,632,000,047; 0.00% - 7.13%; 03/15/2022 - 02/01/2052)		0.05%		03/01/2022		1,350,001,875	1,350,000,000

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

19 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Repurchase Amount		Value


Societe Generale, joint open agreement dated 01/05/2022 (collateralized by U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 7.63%; 03/01/2022 - 02/15/2052)^(f)		0.05%		03/01/2022	$	575,000,799	$	575,000,000


Societe Generale, joint open agreement dated 01/12/2022 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,530,000,206; 0.00% - 7.63%; 03/01/2022 - 10/01/2051)^(f)		0.05%		03/01/2022		890,001,236		890,000,000


Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)		0.06%		03/01/2022		455,713,751		455,712,991


Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,700,003,750 (collateralized by U.S. Treasury obligations valued at $2,754,000,090; 0.38% - 2.88%; 07/31/2022 - 02/15/2051)		0.05%		03/01/2022		1,672,156,235		1,672,153,913


TD Securities (USA) LLC, term agreement dated 02/23/2022, maturing value of $55,000,588 (collateralized by a U.S. Treasury obligation valued at $56,100,009; 2.75%; 11/15/2023)^(e)		0.06%		03/02/2022		55,000,588		55,000,000


Total Repurchase Agreements (Cost $21,680,938,904)								21,680,938,904


TOTAL INVESTMENTS IN SECURITIES-104.66% (Cost $63,945,608,162)								63,945,608,162


OTHER ASSETS LESS LIABILITIES-(4.66)%								(2,849,604,491	)


NET ASSETS-100.00%							$	61,096,003,671

Investment Abbreviations:

SOFR -Secured Overnight Financing Rate

VRD -Variable Rate Demand

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(c)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(d)	Principal amount equals value at period end. See Note 1I.

^(e)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(f)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(g)	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7		30.1%

8-30		5.5

31-60		15.4

61-90		9.7

91-180		25.6

181+		13.7

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

20 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Treasury Obligations Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. Treasury Securities-113.88%

U.S. Treasury Bills-96.41%^(a)
U.S. Treasury Bills		0.06%		03/01/2022	$	73,600	$ 73,600,000
U.S. Treasury Bills		0.01%-0.05%		03/03/2022		40,700	40,699,891
U.S. Treasury Bills		0.06%		03/08/2022		84,000	83,999,469
U.S. Treasury Bills		0.06%-0.07%		03/10/2022		32,000	31,999,504
U.S. Treasury Bills		0.02%-0.05%		03/15/2022		105,000	104,998,816
U.S. Treasury Bills		0.06%		03/17/2022		20,500	20,499,499
U.S. Treasury Bills		0.05%-0.08%		03/22/2022		86,938	86,933,792
U.S. Treasury Bills		0.14%		03/29/2022		88,600	88,594,856
U.S. Treasury Bills		0.09%		03/31/2022		15,650	15,648,891
U.S. Treasury Bills		0.14%		04/05/2022		30,000	29,995,916
U.S. Treasury Bills		0.09%		04/07/2022		30,000	29,997,225
U.S. Treasury Bills		0.25%		04/12/2022		70,000	69,979,583
U.S. Treasury Bills		0.12%		04/14/2022		20,000	19,997,030
U.S. Treasury Bills		0.25%		04/19/2022		80,000	79,972,778
U.S. Treasury Bills		0.07%-0.17%		04/21/2022		21,000	20,996,391
U.S. Treasury Bills		0.11%		04/26/2022		70,000	69,981,022
U.S. Treasury Bills		0.19%		04/28/2022		21,000	20,993,572
U.S. Treasury Bills		0.21%		05/03/2022		8,000	7,997,130
U.S. Treasury Bills		0.24%		05/05/2022		30,000	29,987,000
U.S. Treasury Bills		0.26%		05/10/2022		1,467	1,466,265
U.S. Treasury Bills		0.29%		05/12/2022		30,000	29,982,600
U.S. Treasury Bills		0.23%		05/17/2022		11,000	10,994,590
U.S. Treasury Bills		0.40%		05/19/2022		7,000	6,993,902
U.S. Treasury Bills		0.28%		05/24/2022		11,000	10,993,058
U.S. Treasury Bills		0.38%		05/26/2022		30,000	29,972,767
U.S. Treasury Bills		0.29%		05/31/2022		20,000	19,985,781
U.S. Treasury Bills		0.09%		06/02/2022		54,000	53,953,570
U.S. Treasury Bills		0.34%		06/07/2022		15,000	14,986,117
U.S. Treasury Bills		0.07%		06/16/2022		3,000	2,999,376
U.S. Treasury Bills		0.55%		06/21/2022		16,000	15,972,622
U.S. Treasury Bills		0.57%		06/28/2022		29,000	28,945,359
U.S. Treasury Bills		0.38%		07/07/2022		7,000	6,990,505
U.S. Treasury Bills		0.71%		08/25/2022		12,000	11,958,110
							1,173,066,987

U.S. Treasury Floating Rate Notes-17.06%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)		0.47%		04/30/2022		55,000	55,002,639
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		07/31/2022		22,000	22,000,544
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		10/31/2022		45,000	44,999,181
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)		0.41%		01/31/2023		11,000	11,001,688
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		04/30/2023		19,000	19,000,897

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

21 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Obligations Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value

U.S. Treasury Floating Rate Notes-(continued)
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		07/31/2023		$ 17,500	$ 17,500,602

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)		0.40%		10/31/2023		30,000	30,000,861

U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate -0.02%)^(b)		0.35%		01/31/2024		8,000	7,997,358

							207,503,770


U.S. Treasury Notes-0.41%
U.S. Treasury Notes (Cost $5,036,995)		1.88%		07/31/2022		5,000	5,036,995

TOTAL INVESTMENTS IN SECURITIES-113.88% (Cost $1,385,607,752)							1,385,607,752

OTHER ASSETS LESS LIABILITIES-(13.88)%							(168,891,225)

NET ASSETS-100.00%							$1,216,716,527

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7			8.3%

8-30			30.1

31-60			25.8

61-90			13.2

91-180			13.2

181+			9.4

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

22 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
Municipal Obligations-99.97%
Alabama-3.24%
Mobile (County of), AL Industrial Development Authority (SSAB Alabama, Inc.); Series 2010 A, VRD RB (LOC - Swedbank AB)^(a)(b)(c)		0.28%		07/01/2040		$5,500	$ 5,500,000

Arizona-3.20%
Casa Grande (City of), AZ Industrial Development Authority (Quail Gardens Apartments); Series 2001 A, Ref. VRD RB (CEP - FNMA)^(b)		0.20%		06/15/2031		2,685	2,685,000
Sierra Vista (City of), AZ Industrial Development Authority (Mountain Steppes Apartments); Series 2001 A, Ref. VRD RB (CEP - FNMA)^(b)		0.20%		06/15/2031		2,745	2,745,000
							5,430,000

California-1.47%
California (State of);
Series 2022 A-1, Commercial Paper Notes (LOC - Wells Fargo Bank N.A.)^(c)		0.17%		03/01/2022		1,500	1,500,000
Series 2022 A-5, Commercial Paper Notes (LOC - U.S. Bank N.A.)^(c)		0.17%		03/01/2022		1,000	1,000,000
							2,500,000

Delaware-2.47%
Delaware (State of) Economic Development Authority (Goodwill Industries of Delaware & Delaware County); Series 2006, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.20%		09/01/2036		2,655	2,655,000
Delaware (State of) Economic Development Authority (YMCA of Delaware); Series 2007, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.21%		05/01/2036		1,535	1,535,000
							4,190,000

District of Columbia-1.66%
District of Columbia (Medlantic/Helix); Series 1998 A, VRD RB (LOC - TD Bank N.A.)^(a)(b)(c)		0.19%		08/15/2038		2,820	2,820,000

Florida-6.01%
Palm Beach (County of), FL (Henry Morrison Flagler Museum); Series 2003, VRD RB (LOC - Northern Trust Co. (The))^(b)(c)		0.25%		11/01/2036		2,725	2,725,000
Palm Beach (County of), FL (The Raymond F. Kravis Center for the Performing Arts, Inc.); Series 2002, VRD RB (LOC - Northern Trust Co. (The))^(b)(c)		0.21%		07/01/2032		2,400	2,400,000
Sarasota (County of), FL Public Hospital District (Sarasota Memorial Hospital); Series 2008 B, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(b)(c)		0.20%		07/01/2037		5,075	5,075,000
							10,200,000

Georgia-1.13%
Atlanta (City of), GA Georgia Development Authority (Perkins + Will, Inc.); Series 2010, VRD RB (LOC - BMO Harris Bank N.A.)^(a)(b)(c)		0.20%		11/01/2030		1,920	1,920,000

Illinois-10.32%
Illinois (State of) Educational Facilities Authority (The Adler Planetarium); Series 1997, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.20%		04/01/2031		5,000	5,000,000
Illinois (State of) Finance Authority (Northwestern University); Subseries 2008 B, VRD RB^(b)		0.20%		12/01/2046		5,730	5,730,000
Illinois (State of) Finance Authority (Uhlich Children’s Home); Series 2002, VRD IDR (LOC - U.S. Bank N.A.)^(b)(c)		0.20%		10/01/2033		2,625	2,625,000
Illinois (State of) Housing Development Authority (Foxview I & II Apartments); Series 2008, VRD MFH RB (LOC - FHLMC)^(b)(c)		0.13%		01/01/2041		4,160	4,160,000
							17,515,000

Indiana-1.83%
Huntington (City of), IN (Huntington University); Series 2007, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(b)(c)		0.25%		08/01/2037		3,105	3,105,000

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

23 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)	Value
Iowa-1.65%
Iowa (State of) Finance Authority (CJ Bio America); Series 2021, Ref. VRD RB^(a)(b)(d)		0.24%		12/01/2041	$2,805	$ 2,805,000

Louisiana-3.64%
Louisiana (State of) Offshore Terminal Authority Deepwater Port (Loop LLC); Series 2013 B, Ref. VRD RB (LOC - JPMorgan Chase Bank N.A.)^(b)(c)		0.23%		09/01/2033	1,000	1,000,000
Louisiana (State of) Public Facilities Authority (CHRISTUS Health);
Series 2009 B-3, Ref. VRD RB (LOC - Bank of New York Mellon (The))^(b)(c)		0.21%		07/01/2047	4,085	4,085,000
Series 2009 B-1, Ref. VRD RB (LOC - Bank of New York Mellon (The))^(b)(c)		0.21%		07/01/2047	1,100	1,100,000
						6,185,000

Maryland-0.59%
Montgomery (County of), MD; Series 2010 B, Commercial Paper Notes		0.10%		03/01/2022	1,000	1,000,000

Massachusetts-4.71%
Massachusetts (State of) Department of Transportation; Series 2010 A-1, VRD Metropolitan Highway System RB (LOC - Citibank N.A.)^(b)(c)		0.16%		01/01/2037	3,000	3,000,000
Massachusetts (State of) Health & Educational Facilities Authority; Series 2021 EE, Commercial Paper Notes		0.09%		03/01/2022	5,000	5,000,000
						8,000,000

Michigan-3.15%
Kent (County of), MI Hospital Finance Authority (Spectrum Health System); Series 2008 C, Ref. VRD RB (LOC - Bank of New York Mellon (The))^(b)(c)		0.21%		01/15/2026	820	820,000
Michigan State University Board of Trustees;
Series 2000 A-1, VRD RB^(b)		0.21%		08/15/2030	3,620	3,620,000
Series 2000 A-2, VRD RB^(b)		0.21%		08/15/2030	910	910,000
						5,350,000

Minnesota-5.82%
Burnsville (City of), MN (Bridgeway Apartments L.P.); Series 2003, Ref. VRD RB (CEP - FNMA)^(b)		0.28%		10/15/2033	1,175	1,175,000
Oak Park Heights (City of), MN (Boutwells Landing); Series 2005, Ref. VRD RB (CEP - FHLMC)^(b)		0.19%		11/01/2035	3,700	3,700,000
St. Paul (City of), MN Housing & Redevelopment Authority (Highland Ridge, L.P.); Series 2003, Ref. VRD RB (CEP - FHLMC)^(b)		0.19%		10/01/2033	1,000	1,000,000
University of Minnesota; Series 2022 H, Commercial Paper Notes		0.26%		03/17/2022	4,000	4,000,000
						9,875,000

Mississippi-1.95%
Mississippi Business Finance Corp. (Chevron U.S.A., Inc.);
Series 2010 C, VRD IDR^(b)		0.22%		12/01/2030	585	585,000
Series 2010 E, VRD IDR^(b)		0.22%		12/01/2030	2,730	2,730,000
						3,315,000

Missouri-1.59%
Bridgeton (City of), MO Industrial Development Authority (Stolze Printing); Series 2010, VRD RB (LOC - FHLB of Chicago)^(b)(c)		0.20%		11/01/2037	1,320	1,320,000
Missouri (State of) Development Finance Board (Kopytek Printing); Series 2010, VRD IDR (LOC - FHLB of Chicago)^(b)(c)		0.35%		08/01/2038	1,385	1,385,000
						2,705,000

New Jersey-2.94%
New Jersey (State of) Health Care Facilities Financing Authority (Virtua Health); Series 2009 D, VRD RB (LOC - TD Bank N.A.)^(a)(b)(c)		0.18%		07/01/2043	5,000	5,000,000

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

24 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)	Value
New York-4.08%
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.19%		11/15/2046	$3,320	$ 3,320,000
New York (State of) Energy Research & Development Authority (Consolidated Edison Co. of New York, Inc.); Subseries 2005 A-2, VRD RB (LOC - Mizuho Bank Ltd.)^(a)(b)(c)		0.19%		05/01/2039	3,600	3,600,000
						6,920,000

North Carolina-0.76%
North Carolina (State of) Educational Facilities Finance Agency (Duke University); Series 1992 A, VRD RB^(b)		0.15%		06/01/2027	1,285	1,285,000

Ohio-1.67%
Lorain (County of), OH Port Authority (St. Ignatius High School); Series 2008, VRD RB (LOC - U.S. Bank N.A.)^(b)(c)		0.20%		08/02/2038	2,835	2,835,000

Pennsylvania-1.55%
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.19%		06/01/2037	1,320	1,320,000
Lebanon (County of), PA Health Facilities Authority (E.C.C. Retirement Village); Series 2000, VRD RB (LOC - PNC Bank N.A.)^(b)(c)		0.20%		10/15/2025	310	310,000
Philadelphia (City of), PA; Series 2022 A, Commercial Paper Notes^(a)		0.35%		03/24/2022	1,000	1,000,000
						2,630,000

Rhode Island-2.65%
Rhode Island Health & Educational Building Corp. (Brown University); Series 2003 B, VRD RB^(b)		0.21%		09/01/2043	4,500	4,500,000

Texas-19.92%
Board of Regents of the University of Texas System; Series 2008 B, VRD RB^(b)		0.17%		08/01/2025	1,615	1,615,000
Garland (City of), TX; Series 2021, Commercial Paper Notes		0.13%		04/05/2022	5,000	5,000,000
Harris (County of), TX Hospital District; Series 2010, Ref. VRD RB (LOC - JPMorgan Chase Bank N.A.)^(b)(c)		0.21%		02/15/2042	5,700	5,700,000
Houston (City of), TX; Series 2018 E-2, GO Commercial Paper Notes		0.22%		03/16/2022	4,000	4,000,000
Houston (City of), TX (Combined Utility System); Series 2004 B-3, Ref. VRD RB (LOC - Sumitomo Mitsui Banking Corp.)^(a)(b)(c)		0.21%		05/15/2034	5,250	5,250,000
San Gabriel Health Facilities Development Corp. (YMCA of Greater Williamson County); Series 2005, VRD RB (LOC - JPMorgan Chase Bank N.A.)^(b)(c)		0.24%		04/01/2026	1,890	1,890,000
Texas (State of) Department of Housing & Community Affairs (Costa Mariposa Apartments); Series 2009, VRD RB (CEP - FHLMC)^(b)		0.26%		05/01/2042	2,375	2,375,000
Texas A&M University System Board of Regents; Series 2021 B, Commercial Paper Notes		0.14%		06/02/2022	5,000	5,000,000
University of Texas Board of Regents; Series 2018, Revenue Financing System Commercial Paper Notes		0.29%		04/06/2022	3,000	3,000,000
						33,830,000

Virginia-2.53%
Norfolk (City of), VA; Series 2007, VRD GO Bonds^(b)		0.21%		08/01/2037	4,300	4,300,000

Washington-3.25%
Washington (State of) Housing Finance Commission (Kitts Corner Apartments); Series 2014, VRD RB (LOC - FHLB of San Francisco)^(b)(c)		0.13%		09/01/2049	3,375	3,375,000
Washington (State of) Housing Finance Commission (Redmond Ridge Apartments); Series 2017, VRD RB (LOC - FHLB of San Francisco)^(b)(c)		0.13%		11/01/2047	2,145	2,145,000
						5,520,000

West Virginia-4.29%
Cabell (County of), WV (Provident Group - Marshall Properties LLC - Marshall University); Series 2010 A, VRD RB (LOC - Bank of America N.A.)^(b)(c)		0.21%		07/01/2039	845	845,000

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

25 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
West Virginia-(continued)
West Virginia (State of) Hospital Finance Authority (Cabell Huntington Hospital, Inc.); Series 2008 B, Ref. VRD RB (LOC - Branch Banking & Trust Co.)^(b)(c)		0.27%		01/01/2034		$6,445	$ 6,445,000
							7,290,000

Wisconsin-1.90%
Lima (Town of), WI (Sharon S. Richardson Community Hospice, Inc.); Series 2009, VRD RB (LOC - FHLB of Chicago)^(b)(c)		0.21%		10/01/2042		3,230	3,230,000
TOTAL INVESTMENTS IN SECURITIES^(e)(f)-99.97% (Cost $169,755,000)							169,755,000
OTHER ASSETS LESS LIABILITIES-0.03%							54,772
NET ASSETS-100.00%							$169,809,772

Investment Abbreviations:


CEP		- Credit Enhancement Provider
FHLB		- Federal Home Loan Bank
FHLMC		- Federal Home Loan Mortgage Corp.
FNMA		- Federal National Mortgage Association
GO		- General Obligation
IDR		- Industrial Development Revenue Bonds
LOC		- Letter of Credit
MFH		- Multi-Family Housing
RB		- Revenue Bonds
Ref.		- Refunding
VRD		- Variable Rate Demand

Notes to Schedule of Investments:

^(a)	The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: Canada:5.7%;Japan:5.2%;other countries less than 5% each: 5.5%.

^(b)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(c)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(d)

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 value of this security at February 28, 2022 represented 1.65% of the Fund’s Net Assets.

^(e)	Also represents cost for federal income tax purposes.

^(f)


Entities	Percentage
PNC Bank N.A.		8.3%
Federal Home Loan Banks		6.8
Federal Home Loan Mortgage Corporation		6.6
Wells Fargo Bank N.A.		5.7
JPMorgan Chase Bank, N.A.		5.1

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

26 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Tax-Free Cash Reserve Portfolio–(continued)

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7			87.0%
8-30			5.3
31-60			4.7
61-90			0.0
91-180			3.0
181+			0.0

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

27 Short-Term Investments Trust

Statements of Assets and Liabilities

February 28, 2022

(Unaudited)


												Invesco Treasury			Invesco Tax-Free
	Invesco Liquid			Invesco STIC			Invesco Treasury			Invesco Government		Obligations			Cash Reserve
	Assets Portfolio			Prime Portfolio			Portfolio			& Agency Portfolio		Portfolio			Portfolio

Assets:

Investments in unaffiliated securities, at value	$	1,690,271,922		$	191,977,496		$	13,165,027,105		$	42,264,669,258	$	1,385,607,752		$	169,755,000


Repurchase agreements, at value and cost		550,898,981			84,326,230			9,643,911,550			21,680,938,904		-			-


Cash		-			-			-			-		37,752			-


Receivable for:
Fund shares sold		-			-			2,845			108,705		-			-

Interest		155,860			8,158			13,433,654			29,052,274		73,642			22,965

Fund expenses absorbed		106,833			33,665			1,417,208			2,190,429		109,348			87,930


Investment for trustee deferred compensation and retirement plans		3,524,447			951,741			2,115,902			963,666		102,725			329,541


Other assets		-			132,217			447,526			588,715		792			31,227

Total assets		2,244,958,043			277,429,507			22,826,355,790			63,978,511,951		1,385,932,011			170,226,663


Liabilities:

Payable for:

Investments purchased		29,986,825			13,993,951			898,693,915			2,846,428,808		168,883,059			-


Fund shares reacquired		-			-			12,000			24,638,227		-			-


Amount due custodian		-			-			1,574,127			1,508,529		-			-


Dividends		12,043			2,307			174,513			1,218,332		9,461			1,333


Accrued fees to affiliates		332,171			45,296			3,646,596			7,134,843		165,808			33,290


Accrued trustees’ and officers’ fees and benefits		5,730			3,681			29,867			69,304		4,476			3,395


Accrued operating expenses		28,399			5,900			282,157			288,795		35,540			30,140


Trustee deferred compensation and retirement plans		3,750,354			1,006,111			2,394,342			1,221,442		117,140			348,733

Total liabilities		34,115,522			15,057,246			906,807,517			2,882,508,280		169,215,484			416,891


Net assets applicable to shares outstanding	$	2,210,842,521		$	262,372,261		$	21,919,548,273		$	61,096,003,671	$	1,216,716,527		$	169,809,772


Net assets consist of:

Shares of beneficial interest	$	2,214,068,700		$	263,115,662		$	21,920,415,657		$	61,095,416,116	$	1,216,782,664		$	170,089,160


Distributable earnings (loss)		(3,226,179	)		(743,401	)		(867,384	)		587,555		(66,137	)		(279,388	)


	$	2,210,842,521		$	262,372,261		$	21,919,548,273		$	61,096,003,671	$	1,216,716,527		$	169,809,772


Net Assets:

Institutional Class	$	2,204,979,174		$	261,269,078		$	18,241,859,039		$	53,964,770,211	$	1,098,426,693		$	135,656,602


Private Investment Class	$	2,885,966		$	473,512		$	312,889,460		$	562,429,844	$	13,703,576		$	11,700,511


Personal Investment Class	$	10,246		$	92,856		$	379,824,634		$	15,716,834	$	10,077,798		$	1,333,813


Cash Management Class	$	2,385,218		$	428,281		$	476,970,117		$	956,426,056	$	78,410		$	4,202,044


Reserve Class	$	211,505		$	87,041		$	1,678,474,426		$	538,091,162	$	90,998,450		$	15,429,661


Resource Class	$	247,323		$	385		$	38,293,629		$	134,028,878	$	98,111		$	1,476,862


Corporate Class	$	23,129		$	21,108		$	279,646,266		$	1,018,276,963	$	3,333,489		$	10,279


CAVU Securities Class	$	99,960		$	-		$	511,590,702		$	3,906,263,723	$	-		$	-

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

28 Short-Term Investments Trust

Statements of Assets and Liabilities–(continued)

February 28, 2022

(Unaudited)


									Invesco Treasury		Invesco Tax-Free
	Invesco Liquid		Invesco STIC		Invesco Treasury		Invesco Government		Obligations		Cash Reserve
	Assets Portfolio		Prime Portfolio		Portfolio		& Agency Portfolio		Portfolio		Portfolio


Shares outstanding, no par value, unlimited number of shares authorized:

Institutional Class		2,205,019,784		261,262,354		18,240,410,505		53,964,110,943		1,098,435,692		135,636,048


Private Investment Class		2,886,030		473,500		312,866,402		562,417,907		13,703,762		11,698,732


Personal Investment Class		10,246		92,854		379,787,513		15,716,633		10,077,890		1,333,647


Cash Management Class		2,385,270		428,270		476,928,857		956,415,735		78,412		4,201,456


Reserve Class		211,509		87,039		1,678,353,435		538,081,580		90,998,347		15,427,388


Resource Class		247,328		385		38,290,367		134,025,688		98,112		1,476,639


Corporate Class		23,130		21,107		279,625,136		1,018,275,908		3,333,522		10,277


CAVU Securities Class		99,962		-		511,545,921		3,906,258,431		-		-


Net asset value, offering and redemption price per share for each class	$	1.0000	$	1.0000	$	1.00	$	1.00	$	1.00	$	1.00


Cost of Investments	$	2,241,779,487	$	276,300,889	$	22,808,938,655	$	63,945,608,162	$	1,385,607,752	$	169,755,000

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

29 Short-Term Investments Trust

Statements of Operations

For the six months ended February 28, 2022

(Unaudited)


													Invesco Treasury			Invesco Tax-Free
	Invesco Liquid			Invesco STIC			Invesco Treasury			Invesco Government			Obligations			Cash Reserve
	Assets Portfolio			Prime Portfolio			Portfolio			& Agency Portfolio			Portfolio			Portfolio

Investment income:

Interest	$	1,870,765		$	163,870		$	9,396,711		$	22,014,594		$	446,063		$	64,820


Expenses:

Advisory fees		1,538,049			194,005			16,592,349			27,022,435			701,350			156,141


Administrative services fees		461,582			57,036			4,949,534			11,947,185			221,111			34,579


Custodian fees		26,384			9,192			203,379			186,726			5,734			2,572


Distribution fees:
Private Investment Class		4,297			832			431,096			813,131			17,946			13,527

Personal Investment Class		27			253			868,352			29,956			18,366			3,039

Cash Management Class		1,037			196			192,510			360,118			60			1,764

Reserve Class		925			375			5,311,944			2,244,581			286,523			71,520

Resource Class		291			-			47,971			100,170			78			1,171

Corporate Class		4			3			39,942			129,084			549			2


Transfer agent fees		92,283			11,640			995,541			2,432,019			46,385			7,026


Trustees’ and officers’ fees and benefits		15,799			9,952			81,950			201,650			12,307			9,447


Registration and filing fees		53,276			41,241			472,941			393,620			69,312			51,606


Reports to shareholders		8,372			6,367			31,453			26,728			6,900			13,302


Professional services fees		27,007			21,757			80,198			137,188			24,164			21,099


Other		65,381			33,080			206,536			302,178			56,799			16,536

Total expenses		2,294,714			385,929			30,505,696			46,326,769			1,467,584			403,331


Less: Fees waived and expenses reimbursed		(547,540	)		(235,281	)		(22,239,477	)		(31,376,941	)		(1,075,990	)		(346,495	)

Net expenses		1,747,174			150,648			8,266,219			14,949,828			391,594			56,836


Net investment income		123,591			13,222			1,130,492			7,064,766			54,469			7,984


Realized and unrealized gain (loss) from:

Net realized gain (loss) from unaffiliated investment securities		3,959			18			337,662			26,979			(17,701	)		-


Change in net unrealized appreciation (depreciation) of unaffiliated investment securities		(771,504	)		3,071			-			-			-			-


Net realized and unrealized gain (loss)		(767,545	)		3,089			337,662			26,979			(17,701	)		-


Net increase (decrease) in net assets resulting from operations	$	(643,954	)	$	16,311		$	1,468,154		$	7,091,745		$	36,768		$	7,984

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

30 Short-Term Investments Trust

Statements of Changes in Net Assets

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Liquid Assets Portfolio						Invesco STIC Prime Portfolio

	February 28,			August 31,			February 28,			August 31,
	2022			2021			2022			2021

Operations:
Net investment income	$	123,591		$	1,034,618		$	13,222		$	24,474

Net realized gain		3,959			2,613			18			552

Change in net unrealized appreciation (depreciation)		(771,504	)		(496,709	)		3,071			(2,800	)

Net increase (decrease) in net assets resulting from operations		(643,954	)		540,522			16,311			22,226


Distributions to shareholders from distributable earnings:
Institutional Class		(123,275	)		(1,033,839	)		(13,153	)		(24,275	)

Private Investment Class		(146	)		(318	)		(29	)		(92	)

Personal Investment Class		(2	)		(4	)		(6	)		(31	)

Cash Management Class		(133	)		(359	)		(25	)		(52	)

Reserve Class		(12	)		(29	)		(5	)		(11	)

Resource Class		(15	)		(40	)		(2	)		(9	)

Corporate Class		(2	)		(13	)		(2	)		(4	)

CAVU Securities Class		(6	)		(16	)		-			-

Total distributions from distributable earnings		(123,591	)		(1,034,618	)		(13,222	)		(24,474	)


Share transactions-net:
Institutional Class		(150,618,800	)		(201,574,311	)		39,548,244			(99,033,118	)

Private Investment Class		(5,137	)		(648,893	)		(131,663	)		(671,036	)

Personal Investment Class		-			-			4			(302,491	)

Cash Management Class		(535,901	)		(24,434	)		(67,764	)		(7,793	)

Reserve Class		(4,019	)		(62,582	)		4			(18,402	)

Resource Class		(114,813	)		(3,337	)		-			(122,205	)

Corporate Class		1			(15,522	)		1			4

CAVU Securities Class		-			100,002			-			-

Net increase (decrease) in net assets resulting from share transactions		(151,278,669	)		(202,229,077	)		39,348,826			(100,155,041	)

Net increase (decrease) in net assets		(152,046,214	)		(202,723,173	)		39,351,915			(100,157,289	)


Net assets:
Beginning of period		2,362,888,735			2,565,611,908			223,020,346			323,177,635

End of period	$	2,210,842,521		$	2,362,888,735		$	262,372,261		$	223,020,346

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

31 Short-Term Investments Trust

Statements of Changes in Net Assets–(continued)

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Treasury Portfolio						Invesco Government & Agency Portfolio

	February 28,			August 31,			February 28,			August 31,
	2022			2021			2022			2021

Operations:
Net investment income	$	1,130,492		$	2,248,785		$	7,064,766		$	9,964,680

Net realized gain		337,662			30,818			26,979			542,485

Net increase in net assets resulting from operations		1,468,154			2,279,603			7,091,745			10,507,165


Distributions to shareholders from distributable earnings:
Institutional Class		(945,945	)		(2,005,555	)		(6,302,258	)		(9,402,663	)

Private Investment Class		(14,688	)		(35,458	)		(70,237	)		(120,583	)

Personal Investment Class		(16,136	)		(28,813	)		(1,412	)		(2,025	)

Cash Management Class		(24,596	)		(42,921	)		(116,654	)		(128,425	)

Reserve Class		(62,399	)		(62,101	)		(66,860	)		(105,814	)

Resource Class		(3,065	)		(18,705	)		(16,225	)		(32,727	)

Corporate Class		(13,608	)		(41,758	)		(111,510	)		(52,287	)

CAVU Securities Class		(50,055	)		(13,474	)		(379,610	)		(120,156	)

Total distributions from distributable earnings		(1,130,492	)		(2,248,785	)		(7,064,766	)		(9,964,680	)


Share transactions-net:
Institutional Class		1,148,575,944			(2,122,806,791	)		4,500,540,880			19,204,558,855

Private Investment Class		9,041,045			(118,976,592	)		56,459,453			(76,121,055	)

Personal Investment Class		114,699,804			(16,713,545	)		6,356,607			(4,169,839	)

Cash Management Class		24,738,287			80,255,547			208,470,000			316,471,282

Reserve Class		810,639,856			286,064,751			129,590,895			7,054,623

Resource Class		(14,916,921	)		(582,467,587	)		16,126,918			(25,248,184	)

Corporate Class		13,096,491			(867,085,822	)		(63,819,670	)		1,050,827,823

CAVU Securities Class		(35,495,020	)		547,040,941			2,464,408,750			1,441,849,681

Net increase (decrease) in net assets resulting from share transactions		2,070,379,486			(2,794,689,098	)		7,318,133,833			21,915,223,186

Net increase (decrease) in net assets		2,070,717,148			(2,794,658,280	)		7,318,160,812			21,915,765,671


Net assets:
Beginning of period		19,848,831,125			22,643,489,405			53,777,842,859			31,862,077,188

End of period	$	21,919,548,273		$	19,848,831,125		$	61,096,003,671		$	53,777,842,859

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

32 Short-Term Investments Trust

Statements of Changes in Net Assets–(continued)

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Treasury Obligations Portfolio						Invesco Tax-Free Cash Reserve Portfolio

	February 28,			August 31,			February 28,			August 31,
	2022			2021			2022			2021

Operations:
Net investment income	$	54,469		$	133,186		$	7,984		$	17,194

Net realized gain (loss)		(17,701	)		47,304			-			-

Net increase in net assets resulting from operations		36,768			180,490			7,984			17,194


Distributions to shareholders from distributable earnings:
Institutional Class		(49,822	)		(123,225	)		(6,227	)		(12,978	)

Private Investment Class		(735	)		(1,559	)		(554	)		(1,039	)

Personal Investment Class		(342	)		(128	)		(58	)		(195	)

Cash Management Class		(9	)		(29	)		(226	)		(490	)

Reserve Class		(3,367	)		(7,454	)		(841	)		(2,280	)

Resource Class		(6	)		(17	)		(76	)		(208	)

Corporate Class		(188	)		(774	)		(2	)		(4	)

Total distributions from distributable earnings		(54,469	)		(133,186	)		(7,984	)		(17,194	)


Share transactions-net:
Institutional Class		35,131,360			(306,942,642	)		17,389,193			(32,730,801	)

Private Investment Class		(941,007	)		220,502			2,145,705			(580,210	)

Personal Investment Class		6,265,217			3,070,903			(343,131	)		(1,906,614	)

Cash Management Class		(174,584	)		(87,640	)		(394,386	)		(893,331	)

Reserve Class		16,504,842			19,907,010			(795,898	)		(10,596,705	)

Resource Class		5			(51,953	)		70			(1,527,247	)

Corporate Class		(1,699,796	)		(5,409,097	)		-			-

Net increase (decrease) in net assets resulting from share transactions		55,086,037			(289,292,917	)		18,001,553			(48,234,908	)

Net increase (decrease) in net assets		55,068,336			(289,245,613	)		18,001,553			(48,234,908	)


Net assets:
Beginning of period		1,161,648,191			1,450,893,804			151,808,219			200,043,127

End of period	$	1,216,716,527		$	1,161,648,191		$	169,809,772		$	151,808,219

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

33 Short-Term Investments Trust

Financial Highlights

(Unaudited)

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

Reserve Class


																											Ratio of			Ratio of
					Net gains																						expenses			expenses
					(losses)																						to average			to average net			Ratio of net
	Net asset				on securities						Dividends			Distributions													net assets			assets without			investment
	value,		Net		(both			Total from			from net			from net						Net asset					Net assets,		with fee waivers			fee waivers			income
	beginning		investment		realized and			investment			investment			realized			Total			value, end		Total			end of period		and/or expense			and/or expense			to average
	of period		income^(a)		unrealized)			operations			income			gains			distributions			of period		return^(b)			(000’s omitted)		reimbursements			reimbursements			net assets
Invesco Liquid Assets Portfolio
Six months ended 02/28/22	$	1.0004	$	0.0001	$	(0.0004	)	$	(0.0003	)	$	(0.0001	)	$	-		$	(0.0001	)	$	1.0000		(0.03	)%	$	212		0.17	%^(c)		1.09	%^(c)		0.01	%^(c)
Year ended 08/31/21		1.0006		0.0001		(0.0002	)		(0.0001	)		(0.0001	)		-			(0.0001	)		1.0004		(0.01	)		216		0.21			1.09			0.01
Year ended 08/31/20		1.0004		0.0059		(0.0006	)		0.0053			(0.0051	)		-			(0.0051	)		1.0006		0.53			278		0.85			1.09			0.59
Year ended 08/31/19		1.0004		0.0150		0.0000			0.0150			(0.0150	)		-			(0.0150	)		1.0004		1.51			303		1.05			1.09			1.50
Year ended 08/31/18		1.0002		0.0092		(0.0012	)		0.0080			(0.0078	)		-			(0.0078	)		1.0004		0.80			418		0.99			1.10			0.92
Year ended 08/31/17		1.00		0.0016		0.0015			0.0031			(0.0024	)		(0.0005	)		(0.0029	)		1.0002		0.30			944		0.53			1.13			0.16
Invesco STIC Prime Portfolio
Six months ended 02/28/22		1.0000		0.0001		0.0000			0.0001			(0.0001	)		-			(0.0001	)		1.0000		0.01			87		0.12	^(c)		1.17	^(c)		0.01	^(c)
Year ended 08/31/21		1.0000		0.0001		(0.0000	)		0.0001			(0.0001	)		-			(0.0001	)		1.0000		0.01			87		0.13			1.17			0.01
Year ended 08/31/20		1.0001		0.0045		(0.0001	)		0.0044			(0.0045	)		-			(0.0045	)		1.0000		0.45			105		0.90			1.13			0.44
Year ended 08/31/19		1.0001		0.0139		0.0001			0.0140			(0.0140	)		-			(0.0140	)		1.0001		1.41			273		1.05			1.12			1.39
Year ended 08/31/18		1.0000		0.0083		(0.0005	)		0.0078			(0.0077	)		-			(0.0077	)		1.0001		0.78			270		0.90			1.14			0.83
Year ended 08/31/17		1.00		0.0040		(0.0008	)		0.0032			(0.0032	)		-			(0.0032	)		1.0000		0.32			501		0.40			1.14			0.40
Invesco Treasury Portfolio
Six months ended 02/28/22		1.00		0.00		0.00			0.00			(0.00	)		-			(0.00	)		1.00		0.01			1,678,474		0.07	^(c)		1.08	^(c)		0.01	^(c)
Year ended 08/31/21		1.00		0.00		0.00			0.00			(0.00	)		-			(0.00	)		1.00		0.01			867,767		0.10			1.08			0.01
Year ended 08/31/20		1.00		0.00		0.00			0.00			(0.00	)		(0.00	)		(0.00	)		1.00		0.39			581,684		0.60			1.08			0.44
Year ended 08/31/19		1.00		0.01		0.00			0.01			(0.01	)		-			(0.01	)		1.00		1.32			289,625		1.05			1.08			1.31
Year ended 08/31/18		1.00		0.01		0.00			0.01			(0.01	)		-			(0.01	)		1.00		0.64			228,520		0.88			1.07			0.67
Year ended 08/31/17		1.00		0.00		0.00			0.00			(0.00	)		-			(0.00	)		1.00		0.20			250,728		0.50			1.07			0.20
Invesco Government & Agency Portfolio
Six months ended 02/28/22		1.00		0.00		0.00			0.00			(0.00	)		-			(0.00	)		1.00		0.01			538,091		0.06	^(c)		1.03	^(c)		0.02	^(c)
Year ended 08/31/21		1.00		0.00		0.00			0.00			(0.00	)		-			(0.00	)		1.00		0.02			408,500		0.08			1.03			0.02
Year ended 08/31/20		1.00		0.00		(0.00	)		0.00			(0.00	)		(0.00	)		(0.00	)		1.00		0.40			401,438		0.63			1.02			0.37
Year ended 08/31/19		1.00		0.01		0.00			0.01			(0.01	)		-			(0.01	)		1.00		1.34			297,787		1.03			1.03			1.33
Year ended 08/31/18		1.00		0.01		0.00			0.01			(0.01	)		-			(0.01	)		1.00		0.66			209,629		0.86			1.02			0.64
Year ended 08/31/17		1.00		0.00		(0.00	)		0.00			(0.00	)		-			(0.00	)		1.00		0.23			170,955		0.45			1.02			0.28
Invesco Treasury Obligations Portfolio
Six months ended 02/28/22		1.00		0.00		-			0.00			(0.00	)		-			(0.00	)		1.00		0.01			90,998		0.08	^(c)		1.09	^(c)		0.01	^(c)
Year ended 08/31/21		1.00		0.00		0.00			0.00			(0.00	)		-			(0.00	)		1.00		0.01			74,495		0.10			1.08			0.01
Year ended 08/31/20		1.00		0.00		(0.00	)		0.00			(0.00	)		-			(0.00	)		1.00		0.38			54,585		0.75			1.07			0.27
Year ended 08/31/19		1.00		0.01		0.00			0.01			(0.01	)		-			(0.01	)		1.00		1.29			54,711		1.05			1.08			1.28
Year ended 08/31/18		1.00		0.01		0.00			0.01			(0.01	)		-			(0.01	)		1.00		0.65			33,396		0.88			1.08			0.64
Year ended 08/31/17		1.00		0.00		(0.00	)		0.00			(0.00	)		-			(0.00	)		1.00		0.21			35,625		0.40			1.09			0.26
Invesco Tax-Free Cash Reserve Portfolio
Six months ended 02/28/22		1.00		0.00		-			0.00			(0.00	)		-			(0.00	)		1.00		0.01			15,430		0.07	^(c)		1.27	^(c)		0.01	^(c)
Year ended 08/31/21		1.00		0.00		-			0.00			(0.00	)		-			(0.00	)		1.00		0.01			16,226		0.07			1.27			0.01
Year ended 08/31/20		1.00		0.00		-			0.00			(0.00	)		-			(0.00	)		1.00		0.23			26,823		0.69			1.21			0.26
Year ended 08/31/19		1.00		0.01		-			0.01			(0.01	)		-			(0.01	)		1.00		0.52			20,002		1.07			1.22			0.51
Year ended 08/31/18		1.00		0.00		(0.00	)		0.00			(0.00	)		-			(0.00	)		1.00		0.42			14,151		0.77			1.25			0.44
Year ended 08/31/17		1.00		0.00		(0.00	)		0.00			(0.00	)		-			(0.00	)		1.00		0.33			13,658		0.43			1.24			0.33

^(a)	Calculated using average shares outstanding.

^(b)	Includes adjustments in accordance with accounting principles generally accepted in the United States of America and is not annualized for periods less than one year.

^(c)	Annualized.

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

34 Short-Term Investments Trust

Notes to Financial Statements

February 28, 2022

(Unaudited)

NOTE 1–Significant Accounting Policies

Invesco Liquid Assets Portfolio determines its NAV per share multiple times each day.

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

Security Valuations – Invesco Liquid Assets Portfolio’s and Invesco STIC Prime Portfolio’s securities are fair valued using an evaluated quote provided by an independent pricing service approved by the Board of Trustees. Evaluated quotes 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, market information from brokers and dealers, developments related to specific securities, 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. 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.

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.

B.	Securities Transactions and Investment Income – Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is

35 Short-Term Investments Trust

recorded on the accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.

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 and the country that has the primary market for the issuer’s securities, 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 – It is the policy of the Funds to declare dividends from net investment income daily and pay dividends on the first business day of the following month. Each Fund generally distributes net realized capital gain (including net short-term capital gain), if any, annually.

Federal Income Taxes – The Funds intend 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 Funds’ taxable earnings to shareholders. As such, the Funds 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.

Expenses – Fees provided for under the Rule 12b-1 plan of a particular class of each Fund and which are directly attributable to that class are charged to the operations of such class. All other expenses of each respective Fund are allocated among the classes of such Fund based on relative net assets.

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

36 Short-Term Investments Trust

There is some risk that a portion or all of the interest received from certain tax-free municipal securities could become taxable as a result of determinations by the Internal Revenue Service.

COVID-19 Risk – The COVID-19 strain of coronavirus has resulted in instances of market closures and dislocations, extreme volatility, liquidity constraints and increased trading costs. Efforts to contain its spread have resulted in travel restrictions, disruptions of healthcare systems, business operations (including business closures) and supply chains, layoffs, lower consumer demand and employee availability, and defaults and credit downgrades, among other significant economic impacts that have disrupted global economic activity across many industries. Such economic impacts may exacerbate other pre-existing political, social and economic risks locally or globally and cause general concern and uncertainty.

NOTE 2–Advisory Fees and Other Fees Paid to Affiliates


	First $250 million	Next $250 million	Over $500 million
Invesco Liquid Assets Portfolio	0.15%	0.15%	0.15%
Invesco STIC Prime Portfolio	0.15%	0.15%	0.15%
Invesco Treasury Portfolio	0.15%	0.15%	0.15%
Invesco Government & Agency Portfolio	0.10%	0.10%	0.10%
Invesco Treasury Obligations Portfolio	0.20%	0.15%	0.10%
Invesco Tax-Free Cash Reserve Portfolio	0.20%	0.20%	0.20%

For the six months ended February 28, 2022, the management fee incurred for each Fund was equivalent to the annual effective rate of each Fund’s average daily net assets, as shown below:


Invesco Liquid Assets Portfolio	0.15	%
Invesco STIC Prime Portfolio	0.15	%
Invesco Treasury Portfolio	0.15	%
Invesco Government & Agency Portfolio	0.10	%
Invesco Treasury Obligations Portfolio	0.14	%
Invesco Tax-Free Cash Reserve Portfolio	0.20	%

37 Short-Term Investments Trust


	Institutional Class	Private Investment Class	Personal Investment Class	Cash Management Class	Reserve Class	Resource Class	Corporate Class	CAVU Securities Class
Invesco Liquid Assets Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.38%	0.21%	0.18%
Invesco STIC Prime Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.34%	0.21%	-
Invesco Treasury Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.34%	0.21%	0.18%
Invesco Government & Agency Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.34%	0.21%	0.18%
Invesco Treasury Obligations Portfolio	0.18%	0.43%	0.73%	0.26%	1.05%	0.34%	0.21%	-
Invesco Tax-Free Cash Reserve Portfolio	0.20%	0.45%	0.75%	0.28%	1.07%	0.36%	0.23%	-

For the six months ended February 28, 2022, the Adviser waived advisory fees and/or reimbursed Fund expenses, as shown below:


	Expense Limitation
Invesco Liquid Assets Portfolio	$	442,476
Invesco STIC Prime Portfolio		151,463
Invesco Treasury Portfolio		3,703,090
Invesco Government & Agency Portfolio		-
Invesco Treasury Obligations Portfolio		216,359
Invesco Tax-Free Cash Reserve Portfolio		156,166

Voluntary fee waivers for the six months ended February 28, 2022 are shown below:


	Fund Level		Private Investment Class		Personal Investment Class		Cash Management Class		Reserve Class		Resource Class		Corporate Class
Invesco Liquid Assets Portfolio	$	98,537	$	4,270	$	27	$	1,014	$	923	$	290	$	3
Invesco STIC Prime Portfolio		82,159		832		253		195		375		-		4
Invesco Treasury Portfolio		11,644,572		431,096		868,352		192,510		5,311,944		47,971		39,942
Invesco Government & Agency Portfolio		27,703,436		812,520		29,939		359,090		2,243,978		100,018		127,960
Invesco Treasury Obligations Portfolio		536,300		17,924		18,350		60		286,375		78		544
Invesco Tax-Free Cash Reserve Portfolio		99,306		13,526		3,039		1,765		71,520		1,171		2

38 Short-Term Investments Trust


	Private Investment Class	Personal Investment Class	Cash Management Class	Reserve Class	Resource Class	Corporate Class
Invesco Liquid Assets Portfolio	0.30%	0.55%	0.08%	0.87%	0.20%	0.03%
Invesco STIC Prime Portfolio	0.30%	0.55%	0.08%	0.87%	0.16%	0.03%
Invesco Treasury Portfolio	0.30%	0.55%	0.08%	0.87%	0.16%	0.03%
Invesco Government & Agency Portfolio	0.30%	0.55%	0.08%	0.87%	0.16%	0.03%
Invesco Treasury Obligations Portfolio	0.25%	0.55%	0.08%	0.87%	0.16%	0.03%
Invesco Tax-Free Cash Reserve Portfolio	0.25%	0.55%	0.08%	0.87%	0.16%	0.03%

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

NOTE 3–Additional Valuation Information

Level 1 –

Prices are determined using quoted prices in an active market for identical assets.

Level 2 –

Level 3 –

NOTE 4–Security Transactions with Affiliated Funds


	Securities Purchases		Securities Sales		Net Realized Gains
Invesco Liquid Assets Portfolio		$22,055,624		$16,400,013	$-
Invesco STIC Prime Portfolio		8,610,216		8,200,189	-
Invesco Tax-Free Cash Reserve Portfolio		91,949,282		79,264,665	-

NOTE 5–Trustees’ and Officers’ Fees and Benefits

39 Short-Term Investments Trust

NOTE 6–Cash Balances

NOTE 7–Tax Information

The Funds had a capital loss carryforward as of August 31, 2021, as follows:


Fund	Not Subject to Expiration	Total*

Invesco Liquid Assets Portfolio	$13,010	$13,010

Invesco Treasury Obligations Portfolio	13,241	13,241

Invesco Tax-Free Cash Reserve Portfolio	19,092	19,092

*	Capital loss carryforwards are 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 cost and the net unrealized appreciation (depreciation) of investments for tax purposes are as follows:


	At February 28, 2022
	Federal Tax Cost*		Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)

Invesco Liquid Assets Portfolio	$	2,241,779,487	$	23,265	$	(631,849	)	$	(608,584	)

Invesco STIC Prime Portfolio		276,300,889		2,906		(69	)		2,837

Invesco Treasury Portfolio		22,808,970,667		-		(32,012	)		(32,012	)

Invesco Government & Agency Portfolio		63,945,609,329		-		(1,167	)		(1,167	)

Invesco Treasury Obligations Portfolio		1,385,630,403		-		(22,651	)		(22,651	)

NOTE 9–Share Information

Invesco Liquid Assets Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)				Year ended August 31, 2021
	Shares		Amount		Shares		Amount

Sold:
Institutional Class		7,928,057,646	$	7,929,890,259		17,486,805,323	$	17,494,025,296

Private Investment Class		1		1		371,715		371,900

Cash Management Class		-		-		6,058		6,061

Reserve Class		7,065		7,068		79,579		79,611

Corporate Class		-		-		1,001		1,001

CAVU Securities Class^(b)		-		-		99,962		100,002

40 Short-Term Investments Trust

NOTE 9–Share Information–(continued)


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Issued as reinvestment of dividends:
Institutional Class		3,067		$	3,067			182,613		$	182,698

Private Investment Class		92			92			207			207

Cash Management Class		133			133			359			359

Reserve Class		11			11			28			28

Resource Class		15			15			37			37

Corporate Class		2			2			13			13


Reacquired:
Institutional Class		(8,078,548,249	)		(8,080,512,126	)		(17,688,475,913	)		(17,695,782,305	)

Private Investment Class		(5,228	)		(5,230	)		(1,020,552	)		(1,021,000	)

Cash Management Class		(535,874	)		(536,034	)		(30,840	)		(30,854	)

Reserve Class		(11,095	)		(11,098	)		(142,165	)		(142,221	)

Resource Class		(114,793	)		(114,828	)		(3,373	)		(3,374	)

Corporate Class		(1	)		(1	)		(16,529	)		(16,536	)

Net increase (decrease) in share activity		(151,147,208	)	$	(151,278,669	)		(202,142,477	)	$	(202,229,077	)

^(a)	59% of the outstanding shares of the Fund are owned by the Adviser or an affiliate of the Adviser.

^(b)	Commencement date of December 18, 2020.

41 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco STIC Prime Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		705,814,165		$	705,814,165			1,439,605,312		$	1,439,605,312

Private Investment Class		9,001			9,001			17,500			17,500

Personal Investment Class		23			23			-			-

Cash Management Class		-			-			7,472			7,472

Reserve Class		1			1			4			4

Corporate Class		-			-			1,000			1,000


Issued as reinvestment of dividends:
Institutional Class		6,536			6,536			14,063			14,063

Private Investment Class		29			29			91			91

Personal Investment Class		4			4			27			27

Cash Management Class		7			7			15			15

Reserve Class		4			4			7			7

Resource Class		-			-			7			7

Corporate Class		1			1			4			4


Reacquired:
Institutional Class		(666,272,457	)		(666,272,457	)		(1,538,652,493	)		(1,538,652,493	)

Private Investment Class		(140,693	)		(140,693	)		(688,627	)		(688,627	)

Personal Investment Class		(23	)		(23	)		(302,518	)		(302,518	)

Cash Management Class		(67,771	)		(67,771	)		(15,280	)		(15,280	)

Reserve Class		(1	)		(1	)		(18,413	)		(18,413	)

Resource Class		-			-			(122,212	)		(122,212	)

Corporate Class		-			-			(1,000	)		(1,000	)

Net increase (decrease) in share activity		39,348,826		$	39,348,826			(100,155,041	)	$	(100,155,041	)

^(a)

42 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Treasury Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		63,116,124,261		$	63,116,124,261			209,389,908,080		$	209,389,908,080

Private Investment Class		436,581,760			436,581,760			564,708,648			564,708,648

Personal Investment Class		1,082,049,227			1,082,049,227			1,460,181,973			1,460,181,973

Cash Management Class		868,464,400			868,464,400			834,202,437			834,202,437

Reserve Class		1,633,245,975			1,633,245,975			2,267,218,779			2,267,218,779

Resource Class		96,775,732			96,775,732			271,542,723			271,542,723

Corporate Class		1,534,950,883			1,534,950,883			4,259,846,179			4,259,846,179

CAVU Securities Class^(b)		6,259,349,230			6,259,349,230			1,619,862,326			1,619,862,326


Issued as reinvestment of dividends:
Institutional Class		232,641			232,641			497,496			497,496

Private Investment Class		5,404			5,404			11,961			11,961

Personal Investment Class		14,389			14,389			28,558			28,558

Cash Management Class		23,399			23,399			39,490			39,490

Reserve Class		55,622			55,622			56,643			56,643

Resource Class		3,065			3,065			4,380			4,380

Corporate Class		5,818			5,818			26,745			26,745

CAVU Securities Class		175			175			-			-


Reacquired:
Institutional Class		(61,967,780,958	)		(61,967,780,958	)		(211,513,212,367	)		(211,513,212,367	)

Private Investment Class		(427,546,119	)		(427,546,119	)		(683,697,201	)		(683,697,201	)

Personal Investment Class		(967,363,812	)		(967,363,812	)		(1,476,924,076	)		(1,476,924,076	)

Cash Management Class		(843,749,512	)		(843,749,512	)		(753,986,380	)		(753,986,380	)

Reserve Class		(822,661,741	)		(822,661,741	)		(1,981,210,671	)		(1,981,210,671	)

Resource Class		(111,695,718	)		(111,695,718	)		(854,014,690	)		(854,014,690	)

Corporate Class		(1,521,860,210	)		(1,521,860,210	)		(5,126,958,746	)		(5,126,958,746	)

CAVU Securities Class		(6,294,844,425	)		(6,294,844,425	)		(1,072,821,385	)		(1,072,821,385	)

Net increase (decrease) in share activity		2,070,379,486		$	2,070,379,486			(2,794,689,098	)	$	(2,794,689,098	)

^(a)

^(b)	Commencement date of December 18, 2020.

43 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Government & Agency Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		162,483,965,647		$	162,483,965,647			287,998,117,369		$	287,998,117,369

Private Investment Class		739,731,866			739,731,866			1,566,476,737			1,566,476,737

Personal Investment Class		16,597,262			16,597,262			8,460,874			8,460,874

Cash Management Class		502,774,048			502,774,048			1,020,500,616			1,020,500,616

Reserve Class		1,286,100,892			1,286,100,892			1,184,114,517			1,184,114,517

Resource Class		575,440,585			575,440,585			1,448,949,173			1,448,949,173

Corporate Class		4,225,553,621			4,225,553,621			2,472,495,311			2,472,495,311

CAVU Securities Class^(b)		24,758,726,005			24,758,726,005			11,182,358,336			11,182,358,336


Issued as reinvestment of dividends:
Institutional Class		1,500,984			1,500,984			2,364,199			2,364,199

Private Investment Class		42,484			42,484			77,027			77,027

Personal Investment Class		1,075			1,075			1,664			1,664

Cash Management Class		42,314			42,314			62,947			62,947

Reserve Class		62,697			62,697			96,732			96,732

Resource Class		13,444			13,444			22,306			22,306

Corporate Class		99,960			99,960			20,996			20,996

CAVU Securities Class		231,219			231,219			68,987			68,987


Reacquired:
Institutional Class		(157,984,925,751	)		(157,984,925,751	)		(268,795,922,713	)		(268,795,922,713	)

Private Investment Class		(683,314,897	)		(683,314,897	)		(1,642,674,819	)		(1,642,674,819	)

Personal Investment Class		(10,241,730	)		(10,241,730	)		(12,632,377	)		(12,632,377	)

Cash Management Class		(294,346,362	)		(294,346,362	)		(704,092,281	)		(704,092,281	)

Reserve Class		(1,156,572,694	)		(1,156,572,694	)		(1,177,156,626	)		(1,177,156,626	)

Resource Class		(559,327,111	)		(559,327,111	)		(1,474,219,663	)		(1,474,219,663	)

Corporate Class		(4,289,473,251	)		(4,289,473,251	)		(1,421,688,484	)		(1,421,688,484	)

CAVU Securities Class		(22,294,548,474	)		(22,294,548,474	)		(9,740,577,642	)		(9,740,577,642	)

Net increase in share activity		7,318,133,833		$	7,318,133,833			21,915,223,186		$	21,915,223,186

^(a)

^(b)	Commencement date of December 18, 2020.

44 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Treasury Obligations Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		775,170,129		$	775,170,129			1,758,486,047		$	1,758,486,047

Private Investment Class		714,387			714,387			8,037,650			8,037,650

Personal Investment Class		7,077,364			7,077,364			6,051,798			6,051,798

Reserve Class		114,819,967			114,819,967			332,356,357			332,356,357

Resource Class		5			5			52,034			52,034

Corporate Class		-			-			129			129


Issued as reinvestment of dividends:
Institutional Class		11,379			11,379			69,137			69,137

Private Investment Class		735			735			1,543			1,543

Personal Investment Class		280			280			102			102

Cash Management Class		8			8			27			27

Reserve Class		3,241			3,241			7,165			7,165

Resource Class		-			-			3			3

Corporate Class		188			188			774			774


Reacquired:
Institutional Class		(740,050,148	)		(740,050,148	)		(2,065,497,826	)		(2,065,497,826	)

Private Investment Class		(1,656,129	)		(1,656,129	)		(7,818,691	)		(7,818,691	)

Personal Investment Class		(812,427	)		(812,427	)		(2,980,997	)		(2,980,997	)

Cash Management Class		(174,592	)		(174,592	)		(87,667	)		(87,667	)

Reserve Class		(98,318,366	)		(98,318,366	)		(312,456,512	)		(312,456,512	)

Resource Class		-			-			(103,990	)		(103,990	)

Corporate Class		(1,699,984	)		(1,699,984	)		(5,410,000	)		(5,410,000	)

Net increase (decrease) in share activity		55,086,037		$	55,086,037			(289,292,917	)	$	(289,292,917	)

^(a)

In addition, 55% of the outstanding shares of the Fund are owned by the Adviser or an affiliate of the Adviser.

45 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Tax-Free Cash Reserve Portfolio


	Summary of Share Activity

	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount

Sold:
Institutional Class		91,534,335			$ 91,534,335			147,021,640			$ 147,021,640

Private Investment Class		4,227,638			4,227,638			2,274,008			2,274,008

Personal Investment Class		2,540,401			2,540,401			7,107,975			7,107,975

Cash Management Class		2,600,250			2,600,250			6,420,817			6,420,817

Reserve Class		21,321,081			21,321,081			28,135,345			28,135,345

Resource Class		-			-			394,392			394,392


Issued as reinvestment of dividends:
Institutional Class		3,153			3,153			7,749			7,749

Private Investment Class		437			437			832			832

Personal Investment Class		57			57			195			195

Cash Management Class		82			82			230			230

Reserve Class		836			836			2,280			2,280

Resource Class		70			70			205			205


Reacquired:
Institutional Class		(74,148,295	)		(74,148,295	)		(179,760,190	)		(179,760,190	)

Private Investment Class		(2,082,370	)		(2,082,370	)		(2,855,050	)		(2,855,050	)

Personal Investment Class		(2,883,589	)		(2,883,589	)		(9,014,784	)		(9,014,784	)

Cash Management Class		(2,994,718	)		(2,994,718	)		(7,314,378	)		(7,314,378	)

Reserve Class		(22,117,815	)		(22,117,815	)		(38,734,330	)		(38,734,330	)

Resource Class		-			-			(1,921,844	)		(1,921,844	)

Net increase (decrease) in share activity		18,001,553			$18,001,553			(48,234,908	)		$(48,234,908	)

^(a)

46 Short-Term Investments Trust

Calculating your ongoing Fund expenses

Example

As a shareholder in the Reserve Class, you incur ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period September 1, 2021 through February 28, 2022.

Actual expenses

Hypothetical example for comparison purposes


				HYPOTHETICAL
		ACTUAL		(5% annual return before expenses)
Reserve Class	Beginning Account Value (09/01/21)	Ending Account Value (02/28/22)¹	Expenses Paid During Period²	Ending Account Value (02/28/22)	Expenses Paid During Period²	Annualized Expense Ratio
Invesco Liquid Assets Portfolio	$1,000.00	$999.70	$0.84	$1,023.95	$0.85	0.17%
Invesco STIC Prime Portfolio	1,000.00	1,000.10	0.60	1,024.20	0.60	0.12
Invesco Treasury Portfolio	1,000.00	1,000.10	0.35	1,024.45	0.35	0.07
Invesco Government & Agency Portfolio	1,000.00	1,000.10	0.30	1,024.50	0.30	0.06
Invesco Treasury Obligations Portfolio	1,000.00	1,000.10	0.40	1,024.40	0.40	0.08
Invesco Tax-Free Cash Reserve Portfolio	1,000.00	1,000.10	0.35	1,024.45	0.35	0.07

²	Expenses are equal to each Fund’s annualized expense ratio as indicated above multiplied by the average account value over the period, multiplied by 181/365 to reflect the most recent fiscal half year.

47 Short-Term Investments Trust

Invesco mailing information

Send general correspondence to Invesco Investment Services, Inc., P.O. Box 219078, Kansas City, MO 64121-9078.

Important notice regarding delivery of security holder documents

Fund holdings and proxy voting information

LOGO


SEC file numbers: 811-02729 and 002-58287		Invesco Distributors, Inc.		CM-STIT-SAR-7

LOGO


Semiannual Report to Shareholders		February 28, 2022

CAVU Securities Class

Short-Term Investments Trust (STIT)

Invesco Liquid Assets Portfolio

Invesco Treasury Portfolio

Invesco Government & Agency Portfolio


2		Fund Data
3		Schedules of Investments
18		Financial Statements
23		Financial Highlights
24		Notes to Financial Statements
32		Fund Expenses

This report must be accompanied or preceded by a currently effective Fund prospectus, which contains more complete information, including fees and expenses. Investors should read it carefully before investing. Only clients of CAVU Securities, LLC (CAVU) are eligible to purchase the Funds’ CAVU Securities Class. CAVU is a veteran and minority owned firm that measures the success of the firm not only based on financial performance, but also by the positive contributions it makes in giving back to the community, our country and those who have served our country. The CAVU Securities Class may not be purchased directly by individuals. In order to be a shareholder of the CAVU Securities Class, an individual generally needs to have a brokerage account with CAVU or its affiliates or another intermediary authorized by CAVU to offer the Funds CAVU Securities Class.

Unless otherwise stated, information presented in this report is as of February 28, 2022, and is based on total net assets. Unless otherwise stated, all data provided by Invesco.

NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE

Fund Data


CAVU Securities Class data as of 2/28/22
FUND	WEIGHTED AVERAGE MATURITY		WEIGHTED AVERAGE LIFE	TOTAL NET ASSETS

	Range	At	At
	During	Reporting	Reporting
	Reporting	Period	Period
	Period	End	End
Invesco Liquid Assets¹	23 - 52 days	23 days	52 days	$100.0 thousand
Invesco Treasury²	45 - 57 days	51 days	103 days	511.6 million
Invesco Government & Agency²	32 - 53 days	47 days	100 days	3.9 billion

Weighted average maturity (WAM) is an average of the maturities of all securities held in the portfolio, weighted by each security’s percentage of net assets. The days to maturity for WAM is the lower of the stated maturity date or next interest rate reset date. WAM reflects how a portfolio would react to interest rate changes. Weighted average life (WAL) is an average of all the maturities of all securities held in the portfolio, weighted by each security’s percentage of net assets. The days to maturity for WAL is the lower of the stated maturity date or next demand feature date. WAL reflects how a portfolio would react to deteriorating credit (widening spreads) or tightening liquidity conditions.

2 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
Commercial Paper-36.48%^(a)
Asset-Backed Securities - Fully Supported-2.71%
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.17%		04/13/2022	$	10,000	$	9,996,724
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)^(b)(c)		0.25%		05/06/2022		50,000		49,960,732
								59,957,456

Asset-Backed Securities - Fully Supported Bank-5.88%
Anglesea Funding LLC (Multi - CEP’s)^(b)(c)		0.13%		03/03/2022		10,000		9,999,921
Anglesea Funding PLC (Multi - CEP’s) (OBFR + 0.10%)^(b)(c)(d)		0.17%		05/20/2022		25,000		25,003,750
Bedford Row Funding Corp. (CEP - Royal Bank of Canada) (1 mo. FEDL + 0.12%)^(b)(c)(d)		0.20%		09/01/2022		20,000		19,998,483
Ebury Finance LLC (Multi - CEP’s), (SOFR + 0.15%)^(b)(c)(d)		0.20%		05/23/2022		50,000		50,000,583
Versailles Commercial Paper LLC (CEP - Natixis S.A.) (SOFR + 0.16%)^(b)(c)(d)		0.21%		08/02/2022		25,000		25,000,098
								130,002,835

Diversified Banks-21.08%
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(b)(c)(d)		0.25%		05/16/2022		30,000		30,000,937
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(b)(c)(d)		0.25%		05/20/2022		25,000		25,000,822
ANZ New Zealand (Int’l) Ltd.^(b)(c)		0.17%		04/04/2022		23,700		23,695,783
ANZ New Zealand (Int’l) Ltd.^(b)(c)		0.34%		10/03/2022		30,000		29,831,463
Barclays Bank PLC (SOFR + 0.16%)^(b)(c)(d)		0.21%		07/01/2022		60,000		60,003,023
Industrial & Commercial Bank of China Ltd.^(b)(c)		0.15%		03/15/2022		50,000		49,997,437
Kookmin Bank^(b)(c)		0.20%		03/17/2022		20,000		19,999,226
Mitsubishi UFJ Trust & Banking Corp.^(b)(c)		0.26%		04/13/2022		15,000		14,995,637
National Australia Bank Ltd. (SOFR + 0.17%)^(b)(c)(d)		0.22%		07/25/2022		50,000		50,003,019
NRW Bank^(b)(c)		0.00%		04/01/2022		30,000		29,986,667
Royal Bank of Canada^(b)(c)		0.20%		06/16/2022		15,000		14,974,125
Svenska Handelsbanken AB^(b)(c)		0.34%		11/03/2022		22,850		22,690,700
Toronto-Dominion Bank (The)^(b)(c)		0.21%		06/22/2022		25,000		24,952,262
Toronto-Dominion Bank (The) (1 mo. FEDL + 0.10%)^(b)(c)(d)		0.18%		07/08/2022		10,000		9,999,109
Toronto-Dominion Bank (The) (1 mo. FEDL + 0.10%)^(b)(c)(d)		0.18%		09/06/2022		10,000		9,997,669
United Overseas Bank Ltd.^(b)(c)		0.25%		06/09/2022		50,000		49,922,146
								466,050,025

Diversified Capital Markets-2.71%
UBS AG^(b)(c)		0.25%		08/18/2022		30,000		29,895,263
UBS AG (SOFR + 0.17%)^(b)(c)(d)		0.22%		09/21/2022		30,000		29,987,712
								59,882,975

Investment Banking & Brokerage-1.35%
Goldman Sachs International^(b)		0.45%		11/15/2022		30,000		29,768,383

Regional Banks-2.30%
ASB Finance Ltd.^(b)(c)		0.25%		03/18/2022		20,920		20,919,216
ASB Finance Ltd.^(b)(c)		0.21%		07/08/2022		30,000		29,931,208
								50,850,424

Specialized Finance-0.45%
Great Bear Funding LLC (OBFR + 0.15%)^(c)(d)		0.22%		07/01/2022		10,000		10,001,500
Total Commercial Paper (Cost $807,086,551)								806,513,598

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

3 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


	Interest Rate			Maturity Date		Principal Amount (000)		Value

Certificates of Deposit-34.73%
Agricultural Bank of China Ltd. (SOFR + 0.20%)^(c)(d)		0.25%			05/11/2022	$	10,000	$ 10,001,239
ANZ New Zealand (Int’l) Ltd.^(c)		0.07%			03/01/2022		55,000	55,000,000
Bank of Montreal^(c)		0.21%			06/24/2022		10,000	9,987,430
Bank of Nova Scotia (The) (SOFR + 0.11%)^(c)(d)		0.16%			04/20/2022		50,000	50,004,956
Canadian Imperial Bank of Commerce^(c)		0.07%			03/01/2022		38,000	38,000,000
Canadian Imperial Bank of Commerce (1 mo. FEDL + 0.10%)^(c)(d)		0.18%			06/08/2022		50,000	49,997,973
Cooperatieve Rabobank U.A.^(c)		0.07%			03/01/2022		105,000	105,000,000
DZ Bank AG Deutsche Zentral-Genossenschaftsbank^(c)		0.06%			03/01/2022		95,000	95,000,000
Goldman Sachs Bank USA (SOFR + 0.21%)^(d)		0.26%			09/16/2022		30,000	29,999,999
Nordea Bank Abp^(c)		0.06%			03/01/2022		95,000	95,000,000
Skandinaviska Enskilda Banken AB^(c)		0.06%			03/01/2022		95,000	95,000,000
Svenska Handelsbanken AB^(c)		0.06%			03/01/2022		75,000	75,000,000
Westpac Banking Corp. (SOFR + 0.13%)^(c)(d)		0.18%			07/15/2022		55,000	54,994,856
Westpac Banking Corp.^(c)		0.44%			11/23/2022		5,000	4,976,872
Total Certificates of Deposit (Cost $767,998,956)								767,963,325

Variable Rate Demand Notes-5.24%^(e)
Credit Enhanced-5.24%
Capital Area Housing Finance Corp. (Cypress Creek at River Apartments); Series 2006, VRD MFH RB (LOC - Citibank N.A.)^(f)(g)		0.23%			10/01/2039		2,400	2,400,000
Fayette (County of), PA Hospital Authority (Fayette Regional Health System); Series 2007 B, VRD RB (LOC - PNC Bank N.A.)^(g)		0.19%			06/01/2037		3,055	3,055,000
Jets Stadium Development LLC; Series 2014 A-4B, VRD Bonds (LOC -Sumitomo Mitsui Banking Corp.)^(b)(c)(g)		0.26%			04/01/2047		9,200	9,199,999
Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank N.A.)^(g)		0.22%			05/01/2037		2,500	2,500,000
Metropolitan Transportation Authority; Subseries 2020 B-1, Ref. VRD RB (LOC - PNC Bank N.A.)^(g)		0.19%			11/15/2046		11,180	11,180,000
Sarasota (County of), FL Public Hospital District (Sarasota Memorial Hospital); Series 2008 B, Ref. VRD RB (LOC - Wells Fargo Bank N.A.)^(g)		0.20%			07/01/2037		5,420	5,420,000
University of Texas System Board of Regents; Subseries 2016 G-2, VRD RB		0.16%			08/01/2045		82,040	82,040,000
Total Variable Rate Demand Notes (Cost $115,794,999)								115,794,999
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-76.45% (Cost $1,690,880,506)								1,690,271,922

						Repurchase Amount

Repurchase Agreements-24.92%^(h)
BMO Capital Markets Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $100,003,111 (collateralized by U.S government sponsored agency obligations, domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $103,576,455; 0.00% - 8.88%; 04/25/2022 - 06/20/2071)^(c)(i)		0.16	%		03/01/2022		27,000,840	27,000,000
BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $150,004,958 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $157,182,535; 0.00% - 8.20%; 02/13/2023 - 12/16/2062)^(c)(i)		0.17	%		03/02/2022		15,000,496	15,000,000

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

4 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


	Interest Rate			Maturity Date		Repurchase Amount		Value
BMO Capital Markets Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $25,001,069 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic non-agency asset-backed securities, domestic and foreign corporate obligations and U.S. Treasury obligations valued at $26,546,588; 0.00% - 10.00%; 12/07/2021 - 12/20/2065)^(c)(i)		0.22	%		03/02/2022	$	10,000,428	$	10,000,000
Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic and foreign non-agency asset-backed securities and domestic non-agency mortgage-backed securities valued at $203,598,357; 1.17% - 7.06%; 10/25/2026 -02/15/2039)^(j)		0.56	%		03/01/2022		8,003,451		8,000,000
Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic non-agency asset-backed securities, domestic corporate obligations and domestic non-agency mortgage-backed securities valued at $55,045,612; 1.87% - 7.38%; 03/25/2026 - 06/01/2044)^(j)		0.55	%		03/01/2022		35,014,963		35,000,000
Citigroup Global Markets, Inc., joint open agreement dated 10/06/2021 (collateralized by domestic non-agency mortgage-backed securities valued at $55,143,137; 1.94% -5.80%; 01/25/2030 - 12/15/2038)^(j)		0.54	%		03/01/2022		10,004,197		10,000,000
Credit Agricole Corporate & Investment Bank, joint term agreement dated 02/22/2022, aggregate maturing value of $240,006,067 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations, domestic non-agency mortgage-backed securities and U.S. Treasury obligations valued at $246,893,829; 0.00% - 7.75%; 04/07/2022 - 05/01/2079)^(c)(i)		0.13	%		03/01/2022		20,000,506		20,000,000
Credit Suisse Securities (USA) LLC, joint term agreement dated 02/23/2022, aggregate maturing value of $90,003,500 (collateralized by domestic agency and non-agency mortgage-backed securities, domestic and foreign non-agency asset-backed securities and domestic and foreign corporate obligations valued at $98,998,378; 0.00% - 15.98%; 04/22/2022 - 09/27/2060)^(c)(i)		0.20	%		03/02/2022		25,000,972		25,000,000
Credit Suisse Securities (USA) LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $10,000,095 (collateralized by domestic non-agency mortgage-backed securities valued at $10,500,001; 1.38% - 4.74%; 12/15/2046 - 01/20/2051)^(c)(k)		0.34	%		03/01/2022		2,000,019		2,000,000
J.P. Morgan Securities LLC, joint open agreement dated 04/28/2020 (collateralized by domestic and corporate obligations valued at $109,999,955; 0.00% - 10.88%; 04/30/2022 - 11/03/2037)^(j)		0.37	%		03/01/2022		65,018,706		65,000,000
J.P. Morgan Securities LLC, joint open agreement dated 09/18/2020 (collateralized by domestic and foreign equity securities valued at $15,753,313; 0.00% - 8.50%; 10/31/2026 - 01/31/2028)^(j)		0.27	%		03/01/2022		7,001,470		7,000,000
J.P. Morgan Securities LLC, open agreement dated 11/01/2021 (collateralized by a domestic agency mortgage-backed security and domestic non-agency mortgage-backed securities valued at $15,750,000; 0.22% - 3.36%; 06/15/2031 - 04/27/2065)^(j)		0.43	%		03/01/2022		15,005,004		15,000,000
Mitsubishi UFJ Trust & Banking Corp., joint open agreement dated 02/23/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations, domestic and foreign commercial paper and a U.S. Treasury obligation valued at $51,697,846; 0.00% - 8.50%; 03/01/2022 - 01/15/2082)^(c)(j)		0.20	%		03/01/2022		25,003,889		25,000,000
Mizuho Securities (USA) LLC, joint open agreement dated 12/30/2021 (collateralized by domestic and foreign equity securities valued at $52,500,215; 0.00%)^(c)(j)		0.22	%		03/01/2022		28,000,171		28,000,000
RBC Capital Markets LLC, joint term agreement dated 02/23/2022, aggregate maturing value of $155,005,726 (collateralized by domestic and foreign corporate obligations valued at $170,310,340; 0.00% - 13.00%; 03/15/2022 - 05/15/2097)^(c)(i)		0.19	%		03/02/2022		20,000,739		20,000,000
Societe Generale, joint open agreement dated 08/06/2019 (collateralized by domestic and foreign non-agency asset-backed securities, domestic and foreign corporate obligations and domestic non-agency mortgage-backed securities valued at $78,729,067; 0.34% -13.00%; 03/15/2022 - 12/15/2072)^(c)(j)		0.25	%		03/01/2022		25,000,174		25,000,000
Societe Generale, joint open agreement dated 08/20/2021 (collateralized by a domestic non-agency asset-backed security, domestic and foreign corporate obligations and a domestic non-agency mortgage-backed security valued at $91,931,202; 0.98% -10.13%; 01/05/2023 - 03/11/2061)^(c)(j)		0.18	%		03/01/2022		65,000,325		65,000,000

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

5 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Liquid Assets Portfolio–(continued)


	Interest Rate			Maturity Date		Repurchase Amount		Value

Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)		0.06	%		03/01/2022	$	148,899,229	$	148,898,981

Total Repurchase Agreements (Cost $550,898,981)									550,898,981

TOTAL INVESTMENTS IN SECURITIES^(l)(m)-101.37% (Cost $2,241,779,487)									2,241,170,903

OTHER ASSETS LESS LIABILITIES-(1.37)%									(30,328,382	)

NET ASSETS-100.00%								$	2,210,842,521


Investment Abbreviations:

CEP		-Credit Enhancement Provider
FEDL		-Federal Funds Effective Rate
LOC		-Letter of Credit
MFH		-Multi-Family Housing
OBFR		-Overnight Bank Funding Rate
RB		-Revenue Bonds
Ref.		-Refunding
SOFR		-Secured Overnight Financing Rate
VRD		-Variable Rate Demand

Notes to Schedule of Investments:

^(a)	Securities may be traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.

^(b)

^(c)

^(d)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(e)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(f)	Security subject to the alternative minimum tax.

^(g)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(h)	Principal amount equals value at period end. See Note 1I.

⁽ⁱ⁾	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(j)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(k)	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(l)	Also represents cost for federal income tax purposes.

^(m)	Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer’s obligations but may be called upon to satisfy the issuer’s obligations. No concentration of any single entity was greater than 5% each.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7	51.3	%
8-30	4.1
31-60	10.4
61-90	5.2
91-180	20.9
181+	8.1

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

6 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio


	Interest Rate	Maturity Date		Principal Amount (000)		Value
U.S. Treasury Securities-60.06%
U.S. Treasury Bills-31.54%^(a)
U.S. Treasury Bills	0.11%		04/26/2022	$	721,000	$	720,876,629
U.S. Treasury Bills	0.29%-0.31%		05/12/2022		650,000		649,612,998
U.S. Treasury Bills	0.28%		05/24/2022		225,000		224,855,625
U.S. Treasury Bills	0.38%		05/26/2022		450,000		449,591,499
U.S. Treasury Bills	0.28%-0.29%		05/31/2022		1,200,000		1,199,141,564
U.S. Treasury Bills	0.09%-0.36%		06/02/2022		600,000		599,589,500
U.S. Treasury Bills	0.34%		06/07/2022		527,000		526,512,232
U.S. Treasury Bills	0.07%-0.26%		06/16/2022		535,000		534,676,771
U.S. Treasury Bills	0.55%		06/21/2022		460,000		459,212,889
U.S. Treasury Bills	0.57%		06/28/2022		500,000		499,057,915
U.S. Treasury Bills	0.08%		07/14/2022		150,000		149,957,812
U.S. Treasury Bills	0.11%		08/11/2022		200,000		199,900,842
U.S. Treasury Bills	0.08%-0.12%		09/08/2022		500,000		499,727,295
U.S. Treasury Bills	0.09%		10/06/2022		200,000		199,890,500
							6,912,604,071

U.S. Treasury Floating Rate Notes-15.08%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)	0.47%		04/30/2022		744,000		744,073,587
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)	0.42%		07/31/2022		350,000		350,001,528
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)	0.42%		10/31/2022		355,000		354,993,431
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)	0.41%		01/31/2023		100,000		100,000,000
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)	0.39%		04/30/2023		250,500		250,509,461
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)	0.39%		07/31/2023		627,000		627,019,367
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)	0.40%		10/31/2023		880,000		879,991,372
							3,306,588,746

U.S. Treasury Notes-13.44%
U.S. Treasury Notes	1.75%		03/31/2022		300,000		300,412,035
U.S. Treasury Notes	1.88%		03/31/2022		100,000		100,145,660
U.S. Treasury Notes	1.75%		04/30/2022		200,000		200,549,446
U.S. Treasury Notes	1.75%		06/15/2022		200,000		200,963,044
U.S. Treasury Notes	0.13%		06/30/2022		200,000		200,023,309
U.S. Treasury Notes	1.75%		06/30/2022		100,000		100,547,880
U.S. Treasury Notes	2.13%		06/30/2022		200,000		201,349,336
U.S. Treasury Notes	1.75%		07/15/2022		200,000		201,230,784
U.S. Treasury Notes	0.13%		07/31/2022		200,000		200,033,666
U.S. Treasury Notes	1.88%		07/31/2022		250,000		251,856,731
U.S. Treasury Notes	1.63%		08/15/2022		200,000		201,417,294
U.S. Treasury Notes	1.63%		08/31/2022		150,000		151,137,915
U.S. Treasury Notes	1.50%		09/15/2022		150,000		151,151,255

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

7 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. Treasury Notes-(continued)
U.S. Treasury Notes		1.38%		10/15/2022	$	200,000	$	201,613,975
U.S. Treasury Notes		1.88%		10/31/2022		180,000		182,134,400
U.S. Treasury Notes		2.00%		10/31/2022		100,000		101,267,558
								2,945,834,288
Total U.S. Treasury Securities (Cost $13,165,027,105)								13,165,027,105
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-60.06% (Cost $13,165,027,105)								13,165,027,105

					Repurchase Amount
Repurchase Agreements-44.00%^(c)
Bank of Nova Scotia, agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by U.S. Treasury obligations valued at $510,000,014; 0.13% - 2.75%; 09/30/2022 - 08/15/2029)		0.05%		03/01/2022		500,000,694		500,000,000
BofA Securities, Inc., agreement dated 02/28/2022, maturing value of $600,000,833 (collateralized by U.S. Treasury obligations valued at $612,000,010; 1.13% - 7.63%; 11/15/2024 - 05/15/2051)		0.05%		03/01/2022		600,000,833		600,000,000
CIBC World Markets Corp., joint term agreement dated 02/07/2022, aggregate maturing value of $350,020,319 (collateralized by U.S. Treasury obligations valued at $357,000,019; 0.00% - 4.50%; 07/14/2022 - 02/15/2051)^(d)		0.06%		03/17/2022		150,008,708		150,000,000
Citigroup Global Markets, Inc., joint term agreement dated 02/22/2022, aggregate maturing value of $300,003,208 (collateralized by U.S. Treasury obligations valued at $306,000,095; 1.25% - 2.25%; 11/15/2022 - 04/30/2028)^(d)		0.06%		03/01/2022		110,001,176		110,000,000
Credit Agricole Corporate & Investment Bank, joint agreement dated 02/28/2022, aggregate maturing value of $1,250,001,736 (collateralized by U.S. Treasury obligations valued at $1,275,000,039; 0.75% - 2.75%; 05/31/2023 - 09/30/2028)		0.05%		03/01/2022		950,001,319		950,000,000
Credit Agricole Corporate & Investment Bank, joint open agreement dated 12/01/2021 (collateralized by U.S. Treasury obligations valued at $2,032,860,462; 0.13% - 3.13%; 04/15/2024 - 11/15/2050)^(e)		0.05%		03/01/2022		450,017,375		450,000,000
DNB Bank ASA, agreement dated 02/28/2022, maturing value of $350,000,486 (collateralized by U.S. Treasury obligations valued at $361,046,466; 0.13% -1.63%; 07/15/2027 - 07/15/2031)		0.05%		03/01/2022		350,000,486		350,000,000
Federal Reserve Bank of New York, joint agreement dated 02/28/2022, aggregate maturing value of $800,001,111 (collateralized by U.S. Treasury obligations valued at $800,001,169; 0.13%; 11/30/2022)		0.05%		03/01/2022		200,000,278		200,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), agreement dated 02/28/2022, maturing value of $1,500,002,083 (collateralized by U.S. Treasury obligations valued at $1,530,000,063; 0.13% - 2.88%; 05/15/2022 - 11/15/2046)		0.05%		03/01/2022		1,500,002,083		1,500,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), joint agreement dated 02/28/2022, aggregate maturing value of $612,000,085 (collateralized by U.S. Treasury obligations valued at $624,240,130; 0.00%; 08/11/2022)		0.01%		03/01/2022		200,000,028		200,000,000
Goldman Sachs & Co., agreement dated 02/28/2022, maturing value of $250,000,347 (collateralized by a U.S. Treasury obligation valued at $255,000,014; 1.75%; 11/15/2029)		0.05%		03/01/2022		250,000,347		250,000,000
ING Financial Markets, LLC, agreement dated 02/28/2022, maturing value of $100,000,139 (collateralized by U.S. Treasury obligations valued at $102,000,056; 0.00% - 1.75%; 05/19/2022 - 02/15/2045)		0.05%		03/01/2022		100,000,139		100,000,000
J.P. Morgan Securities LLC, joint open agreement dated 03/27/2020 (collateralized by U.S. Treasury obligations valued at $867,001,467; 0.00% - 2.38%; 03/03/2022 - 05/15/2050)^(e)		0.05%		03/01/2022		630,024,325		630,000,000

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

8 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)


	Interest Rate		Maturity Date		Repurchase Amount		Value
Metropolitan Life Insurance Co., joint term agreement dated 02/23/2022, aggregate maturing value of $350,014,295 (collateralized by U.S. Treasury obligations valued at $358,935,903; 0.00%; 08/15/2027 - 11/15/2045)^(d)		0.07%		03/02/2022	$	100,004,324	$	100,002,963
Mitsubishi UFJ Trust & Banking Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $768,135,455 (collateralized by U.S. Treasury obligations valued at $788,525,747; 1.13%; 02/28/2025 - 02/28/2027)^(d)		0.07%		03/02/2022		266,003,621		266,000,000
Mitsubishi UFJ Trust & Banking Corp., term agreement dated 02/23/2022, maturing value of $100,001,167 (collateralized by U.S. Treasury obligations valued at $102,001,081; 0.63% - 1.25%; 08/15/2030 - 08/15/2031)^(d)		0.06%		03/02/2022		100,001,167		100,000,000
Prudential Insurance Co. of America, agreement dated 02/28/2022, maturing value of $256,312,927 (collateralized by U.S. Treasury obligations valued at $264,258,250; 0.00%; 08/15/2027 - 08/15/2037)		0.06%		03/01/2022		256,312,927		256,312,500
Prudential Legacy Insurance Company of New Jersey, agreement dated 02/28/2022, maturing value of $348,750,581 (collateralized by U.S. Treasury obligations valued at $361,788,000; 0.00%; 08/15/2033 -02/15/2045)		0.06%		03/01/2022		348,750,581		348,750,000
RBC Dominion Securities Inc., joint term agreement dated 02/08/2022, aggregate maturing value of $500,016,667 (collateralized by U.S. Treasury obligations valued at $510,000,124; 0.13% - 6.00%; 07/15/2024 - 02/15/2050)^(d)		0.05%		03/04/2022		100,003,333		100,000,000
RBC Dominion Securities Inc., joint term agreement dated 02/24/2022, aggregate maturing value of $500,004,861 (collateralized by U.S. Treasury obligations valued at $510,000,087; 0.13% - 5.25%; 04/30/2022 -02/15/2052)^(d)		0.05%		03/03/2022		250,002,431		250,000,000
Royal Bank of Canada, joint term agreement dated 02/11/2022, aggregate maturing value of $100,004,583 (collateralized by U.S. Treasury obligations valued at $102,000,076; 0.13% - 2.75%; 05/15/2022 - 11/15/2041)^(d)		0.05%		03/16/2022		50,002,292		50,000,000
Royal Bank of Canada, term agreement dated 02/23/2022, maturing value of $250,002,431 (collateralized by U.S. Treasury obligations valued at $255,000,061; 0.13% - 2.88%; 05/15/2022 - 11/15/2041)^(d)		0.05%		03/02/2022		250,002,431		250,000,000
Societe Generale, joint open agreement dated 01/05/2022 (collateralized by U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 7.63%; 03/01/2022 - 02/15/2052)^(e)		0.05%		03/01/2022		275,000,382		275,000,000
Societe Generale, joint open agreement dated 01/12/2022 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,530,000,206; 0.00% - 7.63%; 03/01/2022 - 10/01/2051)^(e)		0.05%		03/01/2022		380,000,528		380,000,000
Standard Chartered Bank, agreement dated 02/28/2022, maturing value of $250,000,347 (collateralized by U.S. Treasury obligations valued at $255,000,373; 0.13% - 4.38%; 07/15/2023 - 05/15/2051)		0.05%		03/01/2022		250,000,347		250,000,000
Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,700,003,750 (collateralized by U.S. Treasury obligations valued at $2,754,000,090; 0.38% - 2.88%; 07/31/2022 - 02/15/2051)		0.05%		03/01/2022		1,027,847,515		1,027,846,087
Total Repurchase Agreements (Cost $9,643,911,550)								9,643,911,550
TOTAL INVESTMENTS IN SECURITIES-104.06% (Cost $22,808,938,655)								22,808,938,655
OTHER ASSETS LESS LIABILITIES-(4.06)%								(889,390,382	)
NET ASSETS-100.00%							$	21,919,548,273

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(c)	Principal amount equals value at period end. See Note 1I.

^(d)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(e)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

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

9 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Treasury Portfolio–(continued)

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7	39.9	%
8-30	0.0
31-60	5.1
61-90	10.4
91-180	27.7
181+	16.9

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

10 Short-Term Investments Trust

Schedule of Investments

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. Treasury Securities-61.01%
U.S. Treasury Bills-43.56%^(a)
U.S. Treasury Bills		0.06%		03/01/2022	$	475,000	$ 475,000,000
U.S. Treasury Bills		0.07%		03/10/2022		750,000	749,986,875
U.S. Treasury Bills		0.08%		03/24/2022		715,000	714,965,740
U.S. Treasury Bills		0.07%		03/29/2022		705,000	704,961,471
U.S. Treasury Bills		0.09%		03/31/2022		815,000	814,942,271
U.S. Treasury Bills		0.25%		04/12/2022		2,011,000	2,010,413,458
U.S. Treasury Bills		0.25%		04/19/2022		3,000,000	2,998,979,164
U.S. Treasury Bills		0.07%		04/21/2022		250,000	249,976,979
U.S. Treasury Bills		0.11%		04/26/2022		1,690,000	1,689,603,342
U.S. Treasury Bills		0.24%		05/05/2022		750,000	749,675,000
U.S. Treasury Bills		0.29%		05/12/2022		1,200,000	1,199,303,997
U.S. Treasury Bills		0.23%		05/17/2022		545,000	544,729,618
U.S. Treasury Bills		0.44%		05/19/2022		500,000	499,517,223
U.S. Treasury Bills		0.25%		05/24/2022		800,000	799,512,917
U.S. Treasury Bills		0.29%		05/31/2022		2,000,000	1,998,572,943
U.S. Treasury Bills		0.09%		06/02/2022		850,000	849,463,625
U.S. Treasury Bills		0.34%		06/07/2022		1,550,000	1,548,572,738
U.S. Treasury Bills		0.11%		06/09/2022		250,000	249,927,083
U.S. Treasury Bills		0.50%		06/14/2022		905,000	903,692,954
U.S. Treasury Bills		0.07%		06/16/2022		400,000	399,917,521
U.S. Treasury Bills		0.55%		06/21/2022		1,565,000	1,562,322,111
U.S. Treasury Bills		0.57%		06/28/2022		1,600,000	1,597,117,141
U.S. Treasury Bills		0.08%		08/11/2022		300,000	299,891,333
U.S. Treasury Bills		0.61%-0.72%		08/25/2022		2,075,000	2,068,206,952
U.S. Treasury Bills		0.08%		09/08/2022		75,000	74,970,156
U.S. Treasury Bills		0.10%		10/06/2022		860,000	859,518,656
							26,613,741,268

U.S. Treasury Floating Rate Notes-8.87%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.11%)^(b)		0.47%		04/30/2022		107,000	107,014,699
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		07/31/2022		287,000	287,008,217
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.06%)^(b)		0.42%		10/31/2022		730,000	730,013,539
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.05%)^(b)		0.41%		01/31/2023		412,400	412,493,852
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		04/30/2023		1,330,000	1,330,100,459
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%)^(b)		0.39%		07/31/2023		1,085,000	1,085,029,584
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.04%)^(b)		0.40%		10/31/2023		1,238,679	1,238,723,205
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate - 0.02%)^(b)		0.35%		01/31/2024		230,000	229,924,030
							5,420,307,585

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

11 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate			Maturity Date		Principal Amount (000)		Value

U.S. Treasury Notes-8.58%
U.S. Treasury Notes		2.38%			03/15/2022	$	46,000	$ 46,040,879
U.S. Treasury Notes		1.75%			03/31/2022		650,000	650,895,927
U.S. Treasury Notes		1.88%			03/31/2022		925,000	926,373,709
U.S. Treasury Notes		1.75%			04/30/2022		50,000	50,137,302
U.S. Treasury Notes		1.88%			04/30/2022		150,000	150,446,901
U.S. Treasury Notes		1.75%			05/15/2022		135,000	135,465,164
U.S. Treasury Notes		2.13%			05/15/2022		190,000	190,803,023
U.S. Treasury Notes		1.75%			05/31/2022		50,000	50,209,503
U.S. Treasury Notes		1.75%			06/30/2022		739,243	743,325,465
U.S. Treasury Notes		2.13%			06/30/2022		660,000	664,453,821
U.S. Treasury Notes		1.75%			07/15/2022		625,000	628,878,536
U.S. Treasury Notes		0.13%			07/31/2022		150,000	150,011,557
U.S. Treasury Notes		2.00%			07/31/2022		210,000	211,669,979
U.S. Treasury Notes		1.50%			08/15/2022		140,000	140,910,651
U.S. Treasury Notes		1.63%			08/15/2022		100,000	100,703,676
U.S. Treasury Notes		1.88%			08/31/2022		90,000	90,521,762
U.S. Treasury Notes		1.50%			09/15/2022		210,000	211,598,819
U.S. Treasury Notes		1.75%			09/30/2022		100,000	100,971,671
								5,243,418,345
Total U.S. Treasury Securities (Cost $37,277,467,198)								37,277,467,198

U.S. Government Sponsored Agency Securities-8.16%
Federal Farm Credit Bank (FFCB)-3.16%
Federal Farm Credit Bank (SOFR + 0.08%)^(b)		0.13	%		03/10/2022		28,000	28,000,000
Federal Farm Credit Bank (SOFR + 0.09%)^(b)		0.13	%		06/17/2022		65,000	65,000,000
Federal Farm Credit Bank (SOFR + 0.20%)^(b)		0.25	%		06/23/2022		12,000	12,004,748
Federal Farm Credit Bank (SOFR + 0.19%)^(b)		0.24	%		07/14/2022		28,000	28,000,000
Federal Farm Credit Bank (SOFR + 0.15%)^(b)		0.19	%		07/28/2022		45,000	45,000,000
Federal Farm Credit Bank (SOFR + 0.07%)^(b)		0.12	%		08/11/2022		108,000	108,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11	%		08/26/2022		97,500	97,497,588
Federal Farm Credit Bank (SOFR + 0.09%)^(b)		0.13	%		10/07/2022		30,000	30,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08	%		10/12/2022		18,000	18,000,562
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11	%		10/21/2022		20,000	20,000,000
Federal Farm Credit Bank (SOFR + 0.08%)^(b)		0.13	%		11/03/2022		35,000	35,000,000
Federal Farm Credit Bank (SOFR + 0.01%)^(b)		0.06	%		11/16/2022		185,000	184,997,327
Federal Farm Credit Bank (SOFR + 0.07%)^(b)		0.12	%		11/18/2022		56,000	56,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11	%		12/01/2022		74,000	74,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11	%		12/28/2022		350,000	350,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11	%		02/09/2023		18,000	18,000,000
Federal Farm Credit Bank (SOFR + 0.02%)^(b)		0.07	%		06/12/2023		75,000	75,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08	%		06/14/2023		58,000	58,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08	%		07/07/2023		143,000	143,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.07	%		09/08/2023		155,000	155,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.08	%		09/18/2023		21,500	21,500,000
Federal Farm Credit Bank (SOFR + 0.04%)^(b)		0.09	%		09/20/2023		25,000	25,000,000
Federal Farm Credit Bank (SOFR + 0.03%)^(b)		0.07	%		09/27/2023		60,000	60,000,000

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

12 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
Federal Farm Credit Bank (FFCB)-(continued)
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.10%		11/07/2023	$	50,000	$ 50,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		12/13/2023		84,000	84,000,000
Federal Farm Credit Bank (SOFR + 0.06%)^(b)		0.11%		01/10/2024		75,500	75,500,000
Federal Farm Credit Bank (SOFR + 0.04%)^(b)		0.09%		01/25/2024		15,000	15,000,000
							1,931,500,225

Federal Home Loan Bank (FHLB)-4.23%
Federal Home Loan Bank		0.05%		03/17/2022		200,000	199,998,812
Federal Home Loan Bank (SOFR + 0.07%)^(b)		0.12%		04/14/2022		45,000	45,000,000
Federal Home Loan Bank (SOFR + 0.07%)^(b)		0.11%		04/28/2022		28,000	28,000,000
Federal Home Loan Bank		0.06%		05/06/2022		29,000	28,999,425
Federal Home Loan Bank^(a)		0.27%		05/11/2022		244,000	243,872,476
Federal Home Loan Bank (SOFR + 0.06%)^(b)		0.11%		05/12/2022		35,000	35,000,000
Federal Home Loan Bank^(a)		0.40%		05/18/2022		114,800	114,700,507
Federal Home Loan Bank^(a)		0.40%		05/20/2022		1,101,000	1,100,021,333
Federal Home Loan Bank		2.13%		06/10/2022		55,750	56,054,443
Federal Home Loan Bank (SOFR + 0.13%)^(b)		0.18%		08/05/2022		80,000	80,000,000
Federal Home Loan Bank (SOFR + 0.09%)^(b)		0.14%		08/19/2022		380,000	380,003,070
Federal Home Loan Bank (SOFR + 0.09%)^(b)		0.13%		10/05/2022		80,000	80,000,000
Federal Home Loan Bank (SOFR + 0.06%)^(b)		0.11%		12/08/2022		63,200	63,202,161
Federal Home Loan Bank (SOFR + 0.06%)^(b)		0.11%		12/16/2022		3,500	3,500,845
Federal Home Loan Bank (SOFR + 0.03%)^(b)		0.08%		06/07/2023		125,000	125,000,000
							2,583,353,072

Federal Home Loan Mortgage Corp. (FHLMC)-0.40%
Federal Home Loan Mortgage Corp.		0.25%		06/08/2022		15,510	15,517,146
Federal Home Loan Mortgage Corp.		0.13%		07/25/2022		38,000	38,002,165
Federal Home Loan Mortgage Corp. (SOFR + 0.09%)^(b)		0.14%		09/16/2022		190,000	190,000,000
							243,519,311

Federal National Mortgage Association (FNMA)-0.00%
Federal National Mortgage Association^(a)		0.20%		03/09/2022		2,500	2,499,889

U.S. International Development Finance Corp. (DFC)-0.37%
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		06/15/2025		16,800	16,800,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		07/15/2025		18,278	18,277,780
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/15/2025		3,947	3,947,368
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/15/2026		4,750	4,750,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/15/2026		7,917	7,916,667
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		08/13/2027		8,000	8,000,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		08/13/2027		4,600	4,600,000

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

13 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Principal Amount (000)		Value
U.S. International Development Finance Corp. (DFC)-(continued)
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		09/30/2027	$	12,000	$12,000,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		02/15/2028		13,333	13,333,333
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		11/15/2028		61,364	61,363,637
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.20%		05/15/2030		7,488	7,488,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		10/15/2030		7,778	7,777,778
U.S. International Development Finance Corp. VRD Notes (3 mo. U.S. Treasury Bill Rate)^(c)		0.16%		07/09/2026		22,950	22,950,000
U.S. International Development Finance Corp. VRD Notes (3 mo. U.S. Treasury Bill Rate)^(c)		0.17%		03/15/2030		37,125	37,125,000
							226,329,563
Total U.S. Government Sponsored Agency Securities (Cost $4,987,202,060)							4,987,202,060
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-69.17% (Cost $42,264,669,258)							42,264,669,258

					Repurchase Amount
Repurchase Agreements-35.49%^(d)
ABN AMRO Bank N.V., agreement dated 02/28/2022, maturing value of $350,000,486 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $357,000,074; 1.30% - 4.50%; 06/30/2022 - 09/16/2063)		0.05%		03/01/2022		350,000,486	350,000,000
ABN AMRO Bank N.V., agreement dated 02/28/2022, maturing value of $450,000,625 (collateralized by U.S. Treasury obligations valued at $459,000,068; 0.13% - 3.38%; 06/30/2022 - 02/15/2051)		0.05%		03/01/2022		450,000,625	450,000,000
Bank of Montreal, joint term agreement dated 02/10/2022, aggregate maturing value of $250,014,583 (collateralized by domestic agency mortgage-backed securities valued at $255,000,000; 2.50% - 4.50%; 11/01/2046 -02/01/2052)^(e)		0.06%		03/17/2022		125,007,292	125,000,000
BNP Paribas Securities Corp., joint term agreement dated 02/22/2022, aggregate maturing value of $500,004,861 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,007; 0.00% - 7.00%; 06/21/2022 - 02/01/2052)^(e)		0.05%		03/01/2022		385,003,743	385,000,000
BofA Securities, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $745,001,035 (collateralized by domestic agency mortgage-backed securities valued at $759,900,001; 0.46% - 7.50%; 09/25/2022 - 01/01/2052)		0.05%		03/01/2022		238,000,331	238,000,000
CIBC World Markets Corp., joint term agreement dated 01/24/2022, aggregate maturing value of $500,043,333 (collateralized by domestic agency mortgage-backed securities valued at $510,000,000; 1.50% - 4.50%; 10/01/2036 - 03/01/2052)^(e)		0.06%		03/17/2022		350,030,333	350,000,000
CIBC World Markets Corp., joint term agreement dated 02/07/2022, aggregate maturing value of $350,020,319 (collateralized by U.S. Treasury obligations valued at $357,000,019; 0.00% - 4.50%; 07/14/2022 - 02/15/2051)^(e)		0.06%		03/17/2022		200,011,611	200,000,000
Citigroup Global Markets, Inc., joint agreement dated 02/28/2022, aggregate maturing value of $400,000,556 (collateralized by U.S. Treasury obligations valued at $408,000,001; 0.00% - 0.13%; 01/15/2023 - 02/15/2051)		0.05%		03/01/2022		113,000,157	113,000,000

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

14 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Repurchase Amount		Value
Citigroup Global Markets, Inc., joint term agreement dated 02/22/2022, aggregate maturing value of $500,005,833 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,029; 0.00% - 17.46%; 07/31/2023 - 07/20/2070)^(e)		0.06%		03/01/2022	$	400,004,667	$ 400,000,000
Credit Agricole Corporate & Investment Bank, agreement dated 02/28/2022, maturing value of $200,000,278 (collateralized by a domestic agency mortgage-backed security valued at $204,000,001; 2.00%; 01/20/2051)		0.05%		03/01/2022		200,000,278	200,000,000
Credit Agricole Corporate & Investment Bank, joint open agreement dated 12/01/2021 (collateralized by U.S. Treasury obligations valued at $2,032,860,462; 0.13% - 3.13%; 04/15/2024 - 11/15/2050)^(f)		0.05%		03/01/2022		1,242,047,955	1,242,000,000
Federal Reserve Bank of New York, joint agreement dated 02/28/2022, aggregate maturing value of $800,001,111 (collateralized by U.S. Treasury obligations valued at $800,001,169; 0.13%; 11/30/2022)		0.05%		03/01/2022		600,000,833	600,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), agreement dated 02/28/2022, maturing value of $3,500,004,861 (collateralized by U.S. Treasury obligations valued at $3,570,000,054; 0.13% - 3.88%; 01/15/2026 - 02/15/2044)		0.05%		03/01/2022		3,500,004,861	3,500,000,000
Fixed Income Clearing Corp. - Bank of New York Mellon (The), joint agreement dated 02/28/2022, aggregate maturing value of $612,000,085 (collateralized by U.S. Treasury obligations valued at $624,240,130; 0.00%; 08/11/2022)		0.01%		03/01/2022		412,000,057	412,000,000
Fixed Income Clearing Corp. - State Street Bank, agreement dated 02/28/2022, maturing value of $300,000,083 (collateralized by U.S. Treasury obligations valued at $306,000,068; 0.13% - 0.47%; 04/15/2022 - 04/30/2022)		0.01%		03/01/2022		300,000,083	300,000,000
Goldman Sachs & Co., agreement dated 02/28/2022, maturing value of $500,000,139 (collateralized by U.S. Treasury obligations valued at $510,000,000; 0.00% - 7.63%; 04/07/2022 - 02/15/2052)		0.01%		03/01/2022		500,000,139	500,000,000
Goldman Sachs & Co., term agreement dated 02/22/2022, maturing value of $295,003,155 (collateralized by U.S. Treasury obligations valued at $300,900,027; 0.00% - 2.50%; 08/15/2022 - 02/28/2026)^(e)		0.06%		03/01/2022		295,003,155	295,000,000
ING Financial Markets, LLC, joint term agreement dated 02/22/2022, aggregate maturing value of $200,008,944 (collateralized by domestic agency mortgage-backed securities valued at $204,000,000; 1.50% - 4.50%; 10/01/2029 - 05/01/2058)		0.07%		03/17/2022		130,005,814	130,000,000
ING Financial Markets, LLC, joint term agreement dated 12/28/2021, aggregate maturing value of $350,070,000 (collateralized by U.S. government sponsored agency obligations and domestic agency mortgage-backed securities valued at $357,000,395; 0.00% - 7.50%; 12/28/2022 - 05/01/2058)		0.08%		03/28/2022		300,060,000	300,000,000
ING Financial Markets, LLC, term agreement dated 02/07/2022, maturing value of $200,010,667 (collateralized by domestic agency mortgage-backed securities valued at $204,000,000; 1.50% - 7.50%; 06/01/2027 - 02/01/2052)		0.06%		03/11/2022		200,010,667	200,000,000
ING Financial Markets, LLC, term agreement dated 02/10/2022, maturing value of $275,013,292 (collateralized by U.S. government sponsored agency obligations and domestic agency mortgage-backed securities valued at $280,500,646; 0.00% - 5.00%; 04/05/2022 - 02/01/2052)		0.06%		03/11/2022		275,013,292	275,000,000
J.P. Morgan Securities LLC, joint agreement dated 02/28/2022, aggregate maturing value of $1,000,001,667 (collateralized by domestic agency mortgage-backed securities valued at $1,020,000,000; 0.46% - 7.50%; 06/25/2025 - 10/16/2062)		0.06%		03/01/2022		800,001,333	800,000,000
J.P. Morgan Securities LLC, joint open agreement dated 03/27/2020 (collateralized by U.S. Treasury obligations valued at $867,001,467; 0.00% -2.38%; 03/03/2022 - 05/15/2050)^(f)		0.05%		03/01/2022		150,005,792	150,000,000
J.P. Morgan Securities LLC, joint open agreement dated 07/01/2021 (collateralized by domestic agency mortgage-backed securities valued at $239,700,000; 0.47% - 6.00%; 01/01/2026 - 10/15/2061)^(f)		0.06%		03/01/2022		210,009,742	210,000,000

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

15 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Repurchase Amount		Value
J.P. Morgan Securities LLC, joint open agreement dated 07/01/2021 (collateralized by domestic agency mortgage-backed securities valued at $280,500,035; 1.85% - 6.00%; 07/01/2026 - 02/20/2052)^(f)		0.07%		03/01/2022	$	240,013,000	$ 240,000,000
J.P. Morgan Securities LLC, joint open agreement dated 10/15/2019 (collateralized by domestic agency mortgage-backed securities valued at $382,500,005; 0.46% - 7.50%; 12/15/2026 - 02/16/2058)^(f)		0.07%		03/01/2022		275,014,896	275,000,000
Metropolitan Life Insurance Co., joint term agreement dated 02/23/2022, aggregate maturing value of $350,014,295 (collateralized by U.S. Treasury obligations valued at $358,935,903; 0.00%; 08/15/2027 - 11/15/2045)^(e)		0.07%		03/02/2022		170,004,314	170,002,000
Mitsubishi UFJ Trust & Banking Corp., agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by domestic agency mortgage-backed securities valued at $510,000,000; 0.30% - 3.50%; 08/25/2027 - 01/20/2052)		0.05%		03/01/2022		500,000,694	500,000,000
Mitsubishi UFJ Trust & Banking Corp., joint term agreement dated 02/23/2022, aggregate maturing value of $768,135,455 (collateralized by U.S. Treasury obligations valued at $788,525,747; 1.13%; 02/28/2025 - 02/28/2027)^(e)		0.07%		03/02/2022		338,192,103	338,187,500
Mizuho Securities (USA) LLC, agreement dated 02/28/2022, maturing value of $200,000,278 (collateralized by U.S. Treasury obligations valued at $204,000,019; 0.00%; 03/31/2022 - 08/04/2022)		0.05%		03/01/2022		200,000,278	200,000,000
Prudential Insurance Co. of America, agreement dated 02/28/2022, maturing value of $509,883,350 (collateralized by U.S. Treasury obligations valued at $528,644,040; 0.00%; 02/15/2026 - 11/15/2043)		0.06%		03/01/2022		509,883,350	509,882,500
RBC Capital Markets LLC, joint term agreement dated 02/28/2022, aggregate maturing value of $750,001,875 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $765,000,244; 0.13% - 8.00%; 03/01/2022 - 08/20/2065)^(e)(g)		0.09%		03/01/2022		600,001,500	600,000,000
RBC Dominion Securities Inc., agreement dated 02/28/2022, maturing value of $500,000,694 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,049; 0.00% - 5.50%; 07/15/2024 - 01/15/2052)		0.05%		03/01/2022		500,000,694	500,000,000
RBC Dominion Securities Inc., joint term agreement dated 01/11/2022, aggregate maturing value of $500,049,167 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $510,000,022; 0.00% - 6.00%; 03/31/2022 - 01/15/2052)^(e)		0.06%		03/11/2022		250,024,583	250,000,000
RBC Dominion Securities Inc., joint term agreement dated 01/19/2022, aggregate maturing value of $1,000,076,389 (collateralized by domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 5.50%; 02/15/2030 - 01/15/2052)^(e)		0.06%		03/10/2022		875,066,840	875,000,000
RBC Dominion Securities Inc., joint term agreement dated 02/08/2022, aggregate maturing value of $500,016,667 (collateralized by U.S. Treasury obligations valued at $510,000,124; 0.13% - 6.00%; 07/15/2024 - 02/15/2050)^(e)		0.05%		03/04/2022		200,006,667	200,000,000
RBC Dominion Securities Inc., joint term agreement dated 02/24/2022, aggregate maturing value of $500,004,861 (collateralized by U.S. Treasury obligations valued at $510,000,087; 0.13% - 5.25%; 04/30/2022 - 02/15/2052)^(e)		0.05%		03/03/2022		250,002,431	250,000,000
Royal Bank of Canada, joint term agreement dated 02/11/2022, aggregate maturing value of $100,004,583 (collateralized by U.S. Treasury obligations valued at $102,000,076; 0.13% - 2.75%; 05/15/2022 - 11/15/2041)^(e)		0.05%		03/16/2022		50,002,292	50,000,000
Societe Generale, joint agreement dated 02/28/2022, aggregate maturing value of $1,600,002,222 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,632,000,047; 0.00% - 7.13%; 03/15/2022 - 02/01/2052)		0.05%		03/01/2022		1,350,001,875	1,350,000,000

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

16 Short-Term Investments Trust

Schedule of Investments–(continued)

February 28, 2022

(Unaudited)

Invesco Government & Agency Portfolio–(continued)


	Interest Rate		Maturity Date		Repurchase Amount		Value
Societe Generale, joint open agreement dated 01/05/2022 (collateralized by U.S. Treasury obligations valued at $1,020,000,098; 0.00% - 7.63%; 03/01/2022 - 02/15/2052)^(f)		0.05%		03/01/2022	$	575,000,799	$ 575,000,000
Societe Generale, joint open agreement dated 01/12/2022 (collateralized by U.S. government sponsored agency obligations, domestic agency mortgage-backed securities and U.S. Treasury obligations valued at $1,530,000,206; 0.00% - 7.63%; 03/01/2022 - 10/01/2051)^(f)		0.05%		03/01/2022		890,001,236	890,000,000
Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,300,003,833 (collateralized by domestic agency mortgage-backed securities valued at $2,346,000,000; 2.00% - 5.00%; 12/15/2039 - 02/01/2052)		0.06%		03/01/2022		455,713,751	455,712,991
Sumitomo Mitsui Banking Corp., joint agreement dated 02/28/2022, aggregate maturing value of $2,700,003,750 (collateralized by U.S. Treasury obligations valued at $2,754,000,090; 0.38% - 2.88%; 07/31/2022 - 02/15/2051)		0.05%		03/01/2022		1,672,156,235	1,672,153,913
TD Securities (USA) LLC, term agreement dated 02/23/2022, maturing value of $55,000,588 (collateralized by a U.S. Treasury obligation valued at $56,100,009; 2.75%; 11/15/2023)^(e)		0.06%		03/02/2022		55,000,588	55,000,000
Total Repurchase Agreements (Cost $21,680,938,904)							21,680,938,904
TOTAL INVESTMENTS IN SECURITIES-104.66% (Cost $63,945,608,162)							63,945,608,162
OTHER ASSETS LESS LIABILITIES-(4.66)%							(2,849,604,491)
NET ASSETS-100.00%							$61,096,003,671

Investment Abbreviations:

SOFR	-Secured Overnight Financing Rate

VRD	-Variable Rate Demand

Notes to Schedule of Investments:

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

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on February 28, 2022.

^(c)	Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on February 28, 2022.

^(d)	Principal amount equals value at period end. See Note 1I.

^(e)	The Fund may demand payment of the term repurchase agreement upon one to seven business days’ notice depending on the timing of the demand.

^(f)	Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

^(g)	Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

Portfolio Composition by Maturity*

In days, as of 02/28/2022


1-7	30.1	%
8-30	5.5
31-60	15.4
61-90	9.7
91-180	25.6
181+	13.7

*	The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940.

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

17 Short-Term Investments Trust

Statements of Assets and Liabilities

February 28, 2022

(Unaudited)


	Invesco Liquid Assets Portfolio			Invesco Treasury Portfolio			Invesco Government & Agency Portfolio

Assets:
Investments in unaffiliated securities, at value	$	1,690,271,922		$	13,165,027,105		$	42,264,669,258

Repurchase agreements, at value and cost		550,898,981			9,643,911,550			21,680,938,904

Receivable for:
Fund shares sold		-			2,845			108,705

Interest		155,860			13,433,654			29,052,274

Fund expenses absorbed		106,833			1,417,208			2,190,429

Investment for trustee deferred compensation and retirement plans		3,524,447			2,115,902			963,666

Other assets		-			447,526			588,715

Total assets		2,244,958,043			22,826,355,790			63,978,511,951


Liabilities:
Payable for:
Investments purchased		29,986,825			898,693,915			2,846,428,808

Fund shares reacquired		-			12,000			24,638,227

Amount due custodian		-			1,574,127			1,508,529

Dividends		12,043			174,513			1,218,332

Accrued fees to affiliates		332,171			3,646,596			7,134,843

Accrued trustees’ and officers’ fees and benefits		5,730			29,867			69,304

Accrued operating expenses		28,399			282,157			288,795

Trustee deferred compensation and retirement plans		3,750,354			2,394,342			1,221,442

Total liabilities		34,115,522			906,807,517			2,882,508,280

Net assets applicable to shares outstanding	$	2,210,842,521		$	21,919,548,273		$	61,096,003,671


Net assets consist of:
Shares of beneficial interest	$	2,214,068,700		$	21,920,415,657		$	61,095,416,116

Distributable earnings (loss)		(3,226,179	)		(867,384	)		587,555

	$	2,210,842,521		$	21,919,548,273		$	61,096,003,671


Net Assets:
Institutional Class	$	2,204,979,174		$	18,241,859,039		$	53,964,770,211

Private Investment Class	$	2,885,966		$	312,889,460		$	562,429,844

Personal Investment Class	$	10,246		$	379,824,634		$	15,716,834

Cash Management Class	$	2,385,218		$	476,970,117		$	956,426,056

Reserve Class	$	211,505		$	1,678,474,426		$	538,091,162

Resource Class	$	247,323		$	38,293,629		$	134,028,878

Corporate Class	$	23,129		$	279,646,266		$	1,018,276,963

CAVU Securities Class	$	99,960		$	511,590,702		$	3,906,263,723

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

18 Short-Term Investments Trust

Statements of Assets and Liabilities–(continued)

February 28, 2022

(Unaudited)


	Invesco Liquid Assets Portfolio		Invesco Treasury Portfolio		Invesco Government & Agency Portfolio

Shares outstanding, no par value, unlimited number of shares authorized:
Institutional Class		2,205,019,784		18,240,410,505		53,964,110,943

Private Investment Class		2,886,030		312,866,402		562,417,907

Personal Investment Class		10,246		379,787,513		15,716,633

Cash Management Class		2,385,270		476,928,857		956,415,735

Reserve Class		211,509		1,678,353,435		538,081,580

Resource Class		247,328		38,290,367		134,025,688

Corporate Class		23,130		279,625,136		1,018,275,908

CAVU Securities Class		99,962		511,545,921		3,906,258,431

Net asset value, offering and redemption price per share for each class	$	1.0000	$	1.00	$	1.00

Cost of Investments	$	2,241,779,487	$	22,808,938,655	$	63,945,608,162

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

19 Short-Term Investments Trust

Statements of Operations

For the six months ended February 28, 2022

(Unaudited)


	Invesco Liquid Assets Portfolio			Invesco Treasury Portfolio			Invesco Government & Agency Portfolio

Investment income:
Interest	$	1,870,765		$	9,396,711		$	22,014,594

Expenses:
Advisory fees		1,538,049			16,592,349			27,022,435

Administrative services fees		461,582			4,949,534			11,947,185

Custodian fees		26,384			203,379			186,726

Distribution fees:
Private Investment Class		4,297			431,096			813,131

Personal Investment Class		27			868,352			29,956

Cash Management Class		1,037			192,510			360,118

Reserve Class		925			5,311,944			2,244,581

Resource Class		291			47,971			100,170

Corporate Class		4			39,942			129,084

Transfer agent fees		92,283			995,541			2,432,019

Trustees’ and officers’ fees and benefits		15,799			81,950			201,650

Registration and filing fees		53,276			472,941			393,620

Reports to shareholders		8,372			31,453			26,728

Professional services fees		27,007			80,198			137,188

Other		65,381			206,536			302,178

Total expenses		2,294,714			30,505,696			46,326,769

Less: Fees waived and expenses reimbursed		(547,540	)		(22,239,477	)		(31,376,941	)

Net expenses		1,747,174			8,266,219			14,949,828

Net investment income		123,591			1,130,492			7,064,766

Realized and unrealized gain (loss) from:
Net realized gain from unaffiliated investment securities		3,959			337,662			26,979

Change in net unrealized appreciation (depreciation) of unaffiliated investment securities		(771,504	)		-			-

Net realized and unrealized gain (loss)		(767,545	)		337,662			26,979

Net increase (decrease) in net assets resulting from operations	$	(643,954	)	$	1,468,154		$	7,091,745

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

20 Short-Term Investments Trust

Statements of Changes in Net Assets

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Liquid Assets Portfolio						Invesco Treasury Portfolio
	February 28, 2022			August 31, 2021			February 28, 2022			August 31, 2021

Operations:
Net investment income	$	123,591		$	1,034,618		$	1,130,492		$	2,248,785

Net realized gain		3,959			2,613			337,662			30,818

Change in net unrealized appreciation (depreciation)		(771,504	)		(496,709	)		-			-

Net increase (decrease) in net assets resulting from operations		(643,954	)		540,522			1,468,154			2,279,603


Distributions to shareholders from distributable earnings:
Institutional Class		(123,275	)		(1,033,839	)		(945,945	)		(2,005,555	)

Private Investment Class		(146	)		(318	)		(14,688	)		(35,458	)

Personal Investment Class		(2	)		(4	)		(16,136	)		(28,813	)

Cash Management Class		(133	)		(359	)		(24,596	)		(42,921	)

Reserve Class		(12	)		(29	)		(62,399	)		(62,101	)

Resource Class		(15	)		(40	)		(3,065	)		(18,705	)

Corporate Class		(2	)		(13	)		(13,608	)		(41,758	)

CAVU Securities Class		(6	)		(16	)		(50,055	)		(13,474	)

Total distributions from distributable earnings		(123,591	)		(1,034,618	)		(1,130,492	)		(2,248,785	)


Share transactions-net:
Institutional Class		(150,618,800	)		(201,574,311	)		1,148,575,944			(2,122,806,791	)

Private Investment Class		(5,137	)		(648,893	)		9,041,045			(118,976,592	)

Personal Investment Class		-			-			114,699,804			(16,713,545	)

Cash Management Class		(535,901	)		(24,434	)		24,738,287			80,255,547

Reserve Class		(4,019	)		(62,582	)		810,639,856			286,064,751

Resource Class		(114,813	)		(3,337	)		(14,916,921	)		(582,467,587	)

Corporate Class		1			(15,522	)		13,096,491			(867,085,822	)

CAVU Securities Class		-			100,002			(35,495,020	)		547,040,941

Net increase (decrease) in net assets resulting from share transactions		(151,278,669	)		(202,229,077	)		2,070,379,486			(2,794,689,098	)

Net increase (decrease) in net assets		(152,046,214	)		(202,723,173	)		2,070,717,148			(2,794,658,280	)


Net assets:
Beginning of period		2,362,888,735			2,565,611,908			19,848,831,125			22,643,489,405

End of period	$	2,210,842,521		$	2,362,888,735		$	21,919,548,273		$	19,848,831,125

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

21 Short-Term Investments Trust

Statements of Changes in Net Assets–(continued)

For the six months ended February 28, 2022 and the year ended August 31, 2021

(Unaudited)


	Invesco Government & Agency Portfolio
	February 28, 2022			August 31, 2021

Operations:
Net investment income	$	7,064,766		$	9,964,680

Net realized gain		26,979			542,485

Net increase in net assets resulting from operations		7,091,745			10,507,165


Distributions to shareholders from distributable earnings:
Institutional Class		(6,302,258	)		(9,402,663	)

Private Investment Class		(70,237	)		(120,583	)

Personal Investment Class		(1,412	)		(2,025	)

Cash Management Class		(116,654	)		(128,425	)

Reserve Class		(66,860	)		(105,814	)

Resource Class		(16,225	)		(32,727	)

Corporate Class		(111,510	)		(52,287	)

CAVU Securities Class		(379,610	)		(120,156	)

Total distributions from distributable earnings		(7,064,766	)		(9,964,680	)


Share transactions-net:
Institutional Class		4,500,540,880			19,204,558,855

Private Investment Class		56,459,453			(76,121,055	)

Personal Investment Class		6,356,607			(4,169,839	)

Cash Management Class		208,470,000			316,471,282

Reserve Class		129,590,895			7,054,623

Resource Class		16,126,918			(25,248,184	)

Corporate Class		(63,819,670	)		1,050,827,823

CAVU Securities Class		2,464,408,750			1,441,849,681

Net increase in net assets resulting from share transactions		7,318,133,833			21,915,223,186

Net increase in net assets		7,318,160,812			21,915,765,671


Net assets:
Beginning of period		53,777,842,859			31,862,077,188

End of period	$	61,096,003,671		$	53,777,842,859

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

22 Short-Term Investments Trust

Financial Highlights

(Unaudited)

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

CAVU Securities Class


	Net asset value, beginning of period			Net investment income^(a)			Net gains (losses) on securities (both realized and unrealized)				Total from investment operations				Dividends from net investment income				Net asset value, end of period			Total return^(b)			Net assets, end of period (000’s omitted)			Ratio of expenses to average net assets with fee waivers and/or expense reimbursements			Ratio of expenses to average net assets without fee waivers and/or expense reimbursements			Ratio of net investment income to average net assets
Invesco Liquid Assets Portfolio
Six months ended 02/28/22		$	1.0004		$	0.0001		$	(0.0004	)		$	(0.0003	)		$	(0.0001	)		$	1.0000		(0.03	)%		$	100		0.17	%^(c)		0.22	%^(c)		0.01	%^(c)
Period ended 08/31/21^(d)			1.0004			0.0002			(0.0000	)			0.0002				(0.0002	)			1.0004		0.02				100		0.17	^(c)		0.22	^(c)		0.05	^(c)
Invesco Treasury Portfolio
Six months ended 02/28/22			1.00			0.00			0.00				0.00				(0.00	)			1.00		0.01				511,591		0.07	^(c)		0.21	^(c)		0.01	^(c)
Period ended 08/31/21^(d)			1.00			0.00			0.00				0.00				(0.00	)			1.00		0.01				547,091		0.04	^(c)		0.21	^(c)		0.07	^(c)
Invesco Government & Agency Portfolio
Six months ended 02/28/22			1.00			0.00			0.00				0.00				(0.00	)			1.00		0.01				3,906,264		0.06	^(c)		0.16	^(c)		0.02	^(c)
Period ended 08/31/21^(d)			1.00			0.00			0.00				0.00				(0.00	)			1.00		0.02				1,441,853		0.04	^(c)		0.16	^(c)		0.06	^(c)

^(a)	Calculated using average shares outstanding.

^(b)	Includes adjustments in accordance with accounting principles generally accepted in the United States of America and is not annualized for periods less than one year.

^(c)	Annualized.

^(d)	Commencement date of December 18, 2020.

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

23 Short-Term Investments Trust

Notes to Financial Statements

February 28, 2022

(Unaudited)

NOTE 1–Significant Accounting Policies

Short-Term Investments Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end series diversified management investment company. The Trust is organized as a Delaware statutory trust which currently offers six separate portfolios (each constituting a “Fund”). The Funds covered in this report are Invesco Liquid Assets Portfolio, Invesco Treasury Portfolio and Invesco Government & Agency Portfolio (collectively, the “Funds”). The assets, liabilities and operations of each Fund are accounted for separately. Information presented in these financial statements pertains only to the Funds. Matters affecting each Fund or class will be voted on exclusively by the shareholders of such Fund or class.

The investment objectives of the Funds are: to provide current income consistent with preservation of capital and liquidity for Invesco Liquid Assets Portfolio, Invesco Treasury Portfolio and Invesco Government & Agency Portfolio.

Each Fund currently offers eight different classes of shares: Institutional Class, Private Investment Class, Personal Investment Class, Cash Management Class, Reserve Class, Resource Class, Corporate Class and CAVU Securities Class.

Invesco Liquid Assets Portfolio, an institutional money market fund, prices and transacts in its shares at a floating net asset value (“NAV”) reflecting the current market-based values of its portfolio securities, except as otherwise generally permitted for securities with remaining maturities of 60 days or less, which are valued at amortized cost. Rules and regulations also require Invesco Liquid Assets Portfolio to round its NAV to four decimal places (e.g., $1.0000).

Invesco Liquid Assets Portfolio determines its NAV per share multiple times each day.

Invesco Treasury Portfolio and Invesco Government & Agency Portfolio, each a “government money market fund” as defined in Rule 2a-7 under the 1940 Act, seek to maintain a stable or constant NAV of $1.00 per share using an amortized cost method of valuation.

Invesco Liquid Assets Portfolio may impose a fee upon the sale of shares or may temporarily suspend the ability to sell shares if the Fund’s liquidity falls below the required minimum or because of market conditions or other factors. The Board of Trustees has elected not to subject Invesco Treasury Portfolio and Invesco Government & Agency Portfolio to liquidity fee and redemption gate requirements at this time, as permitted by Rule 2a-7.

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

Security Valuations - Invesco Liquid Assets Portfolio’s securities are fair valued using an evaluated quote provided by an independent pricing service approved by the Board of Trustees. Evaluated quotes 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, market information from brokers and dealers, developments related to specific securities, 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. 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.

Invesco Treasury Portfolio and Invesco Government & Agency Portfolio’s securities are recorded on the basis of amortized cost which approximates value as permitted by Rule 2a-7 under the 1940 Act. This method values a security at its cost on the date of purchase and, thereafter, assumes a constant amortization to maturity of any premiums or accretion of any discounts.

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.

Securities Transactions and Investment Income – Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on the accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.

24 Short-Term Investments Trust

investment income reported in the Statements of Operations and the Statements 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 Funds and the investment adviser.

D.	Distributions - It is the policy of the Funds to declare dividends from net investment income daily and pay dividends on the first business day of the following month. Each Fund generally distributes net realized capital gain (including net short-term capital gain), if any, annually.

Other Risks – Investments in obligations issued by agencies and instrumentalities of the U.S. Government may vary in the level of support they receive from the government. The government may choose not to provide financial support to government sponsored agencies or instrumentalities if it is not legally obligated to do so. In this case, if the issuer defaulted, the Funds may not be able to recover its investment in such issuer from the U.S. Government. Additionally, from time to time, uncertainty regarding the status of negotiations in the U.S. Government to increase the statutory debt limit, commonly called the “debt ceiling”, could increase the risk that the U.S. Government may default on payments on certain U.S. Government securities, cause the credit rating of the U.S. Government to be downgraded, increase volatility in the stock and bond markets, result in higher interest rates, reduce prices of U.S. Treasury securities, and/or increase the costs of various kinds of debt. If a U.S. Government-sponsored entity is negatively impacted by legislative or regulatory action, is unable to meet its obligations, or its creditworthiness declines, the performance of each Fund that holds securities of that entity will be adversely impacted.

25 Short-Term Investments Trust

There is some risk that a portion or all of the interest received from certain tax-free municipal securities could become taxable as a result of determinations by the Internal Revenue Service.

NOTE 2–Advisory Fees and Other Fees Paid to Affiliates

The Trust has entered into a master investment advisory agreement with Invesco Advisers, Inc. (the “Adviser” or “Invesco”). Under the terms of the investment advisory agreement, each Fund accrues daily and pays monthly an advisory fee to the Adviser at an annual rate based on each Fund’s average daily net assets as follows, respectively:


	First $250 million	Next $250 million	Over $500 million
Invesco Liquid Assets Portfolio	0.15%	0.15%	0.15%
Invesco Treasury Portfolio	0.15%	0.15%	0.15%
Invesco Government & Agency Portfolio	0.10%	0.10%	0.10%

For the six months ended February 28, 2022, the management fee incurred for each Fund was equivalent to the annual effective rate of each Fund’s average daily net assets, as shown below:


Invesco Liquid Assets Portfolio			0.15%
Invesco Treasury Portfolio			0.15%
Invesco Government & Agency Portfolio			0.10%

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. and, for Invesco Government & Agency Portfolio, separate sub-advisory agreements with Invesco Capital Management LLC and Invesco Asset Management (India) Private Limited (collectively, the “Affiliated Sub-Advisers”) the Adviser, not the Funds, 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 each Fund based on the percentage of assets allocated to such Sub-Adviser(s).

The Adviser has contractually agreed, through at least December 31, 2022, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Institutional Class, Private Investment Class, Personal Investment Class, Cash Management Class, Reserve Class, Resource Class, Corporate Class and CAVU Securities Class shares for each Fund as shown in the following table (the “expense limits”):


	Institutional Class	Private Investment Class	Personal Investment Class	Cash Management Class	Reserve Class	Resource Class	Corporate Class	CAVU Securities Class
Invesco Liquid Assets Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.38%	0.21%	0.18%
Invesco Treasury Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.34%	0.21%	0.18%
Invesco Government & Agency Portfolio	0.18%	0.48%	0.73%	0.26%	1.05%	0.34%	0.21%	0.18%

The expense limits shown are the expense limits after Rule 12b-1 fee waivers by Invesco Distributors, Inc. (“IDI”).

For the six months ended February 28, 2022, the Adviser waived advisory fees and/or reimbursed Fund expenses, as shown below:


	Expense Limitation
Invesco Liquid Assets Portfolio	$	442,476
Invesco Treasury Portfolio		3,703,090
Invesco Government & Agency Portfolio		-

26 Short-Term Investments Trust

Voluntary fee waivers for the six months ended February 28, 2022 are shown below:


	Fund Level		Private Investment Class		Personal Investment Class		Cash Management Class		Reserve Class		Resource Class		Corporate Class
Invesco Liquid Assets Portfolio		$ 98,537		$ 4,270		$ 27		$ 1,014		$ 923		$ 290		$ 3
Invesco Treasury Portfolio		11,644,572		431,096		868,352		192,510		5,311,944		47,971		39,942
Invesco Government & Agency Portfolio		27,703,436		812,520		29,939		359,090		2,243,978		100,018		127,960

NOTE 3–Additional Valuation Information


Level 1 –		Prices are determined using quoted prices in an active market for identical assets.
Level 2 –		Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.
Level 3 –		Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect each Fund’s own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

NOTE 4–Security Transactions with Affiliated Funds


	Securities Purchases	Securities Sales	Net Realized Gains
Invesco Liquid Assets Portfolio	$22,055,624	$16,400,013	$-

NOTE 5–Trustees’ and Officers’ Fees and Benefits

27 Short-Term Investments Trust

NOTE 6–Cash Balances

The Funds are permitted to temporarily overdraft or leave balances in their accounts with BNY Mellon, the custodian bank. Such balances, if any at period-end, are shown in the Statements of Assets and Liabilities under the payable caption Amount due custodian. To compensate BNY Mellon or the Funds for such activity, the Funds may either (1) pay to or receive from BNY Mellon compensation at a rate agreed upon by BNY Mellon and Invesco, not to exceed the contractually agreed upon rate; or (2) leave funds or overdraft funds as a compensating balance in the account so BNY Mellon or the Funds can be compensated for use of funds.

NOTE 7–Tax Information

The Funds had a capital loss carryforward as of August 31, 2021, as follows:


Fund	Not Subject to Expiration	Total*
Invesco Liquid Assets Portfolio	$13,010	$	13,010

*	Capital loss carryforwards are 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 cost and the net unrealized appreciation (depreciation) of investments for tax purposes are as follows:


	At February 28, 2022
	Federal Tax Cost*			Unrealized Appreciation			Unrealized (Depreciation)				Net Unrealized Appreciation (Depreciation)
Invesco Liquid Assets Portfolio		$	2,241,779,487		$	23,265		$	(631,849	)		$	(608,584	)
Invesco Treasury Portfolio			22,808,970,667			-			(32,012	)			(32,012	)
Invesco Government & Agency Portfolio			63,945,609,329			-			(1,167	)			(1,167	)

For Invesco Treasury Portfolio and Invesco Government & Agency Portfolio, cost of investments on a tax basis includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end. For Invesco Liquid Assets Portfolio, cost of investments are the same for tax and financial reporting purposes.

NOTE 9–Share Information

Invesco Liquid Assets Portfolio


	Summary of Share Activity
	Six months ended February 28, 2022^(a)				Year ended August 31, 2021
	Shares		Amount		Shares		Amount
Sold:

Institutional Class		7,928,057,646	$	7,929,890,259		17,486,805,323	$	17,494,025,296
Private Investment Class		1		1		371,715		371,900
Cash Management Class		-		-		6,058		6,061
Reserve Class		7,065		7,068		79,579		79,611
Corporate Class		-		-		1,001		1,001
CAVU Securities Class^(b)		-		-		99,962		100,002

Issued as reinvestment of dividends:

Institutional Class		3,067		3,067		182,613		182,698
Private Investment Class		92		92		207		207
Cash Management Class		133		133		359		359
Reserve Class		11		11		28		28
Resource Class		15		15		37		37
Corporate Class		2		2		13		13

28 Short-Term Investments Trust

NOTE 9–Share Information–(continued)


	Summary of Share Activity
	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount
Reacquired:

Institutional Class		(8,078,548,249	)	$	(8,080,512,126	)		(17,688,475,913	)	$	(17,695,782,305	)
Private Investment Class		(5,228	)		(5,230	)		(1,020,552	)		(1,021,000	)
Cash Management Class		(535,874	)		(536,034	)		(30,840	)		(30,854	)
Reserve Class		(11,095	)		(11,098	)		(142,165	)		(142,221	)
Resource Class		(114,793	)		(114,828	)		(3,373	)		(3,374	)
Corporate Class		(1	)		(1	)		(16,529	)		(16,536	)
Net increase (decrease) in share activity		(151,147,208	)	$	(151,278,669	)		(202,142,477	)	$	(202,229,077	)

^(a)	59% of the outstanding shares of the Fund are owned by the Adviser or an affiliate of the Adviser.

^(b)	Commencement date of December 18, 2020.

29 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Treasury Portfolio


	Summary of Share Activity
	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount
Sold:

Institutional Class		63,116,124,261		$	63,116,124,261			209,389,908,080		$	209,389,908,080
Private Investment Class		436,581,760			436,581,760			564,708,648			564,708,648
Personal Investment Class		1,082,049,227			1,082,049,227			1,460,181,973			1,460,181,973
Cash Management Class		868,464,400			868,464,400			834,202,437			834,202,437
Reserve Class		1,633,245,975			1,633,245,975			2,267,218,779			2,267,218,779
Resource Class		96,775,732			96,775,732			271,542,723			271,542,723
Corporate Class		1,534,950,883			1,534,950,883			4,259,846,179			4,259,846,179
CAVU Securities Class^(b)		6,259,349,230			6,259,349,230			1,619,862,326			1,619,862,326
Issued as reinvestment of dividends:

Institutional Class		232,641			232,641			497,496			497,496
Private Investment Class		5,404			5,404			11,961			11,961
Personal Investment Class		14,389			14,389			28,558			28,558
Cash Management Class		23,399			23,399			39,490			39,490
Reserve Class		55,622			55,622			56,643			56,643
Resource Class		3,065			3,065			4,380			4,380
Corporate Class		5,818			5,818			26,745			26,745
CAVU Securities Class		175			175			-			-
Reacquired:
Institutional Class		(61,967,780,958	)		(61,967,780,958	)		(211,513,212,367	)		(211,513,212,367	)
Private Investment Class		(427,546,119	)		(427,546,119	)		(683,697,201	)		(683,697,201	)
Personal Investment Class		(967,363,812	)		(967,363,812	)		(1,476,924,076	)		(1,476,924,076	)
Cash Management Class		(843,749,512	)		(843,749,512	)		(753,986,380	)		(753,986,380	)
Reserve Class		(822,661,741	)		(822,661,741	)		(1,981,210,671	)		(1,981,210,671	)
Resource Class		(111,695,718	)		(111,695,718	)		(854,014,690	)		(854,014,690	)
Corporate Class		(1,521,860,210	)		(1,521,860,210	)		(5,126,958,746	)		(5,126,958,746	)
CAVU Securities Class		(6,294,844,425	)		(6,294,844,425	)		(1,072,821,385	)		(1,072,821,385	)
Net increase (decrease) in share activity		2,070,379,486		$	2,070,379,486			(2,794,689,098	)	$	(2,794,689,098	)

^(a)

^(b)	Commencement date of December 18, 2020.

30 Short-Term Investments Trust

NOTE 9–Share Information–(continued)

Invesco Government & Agency Portfolio


	Summary of Share Activity
	Six months ended February 28, 2022^(a)						Year ended August 31, 2021
	Shares			Amount			Shares			Amount
Sold:

Institutional Class		162,483,965,647		$	162,483,965,647			287,998,117,369		$	287,998,117,369
Private Investment Class		739,731,866			739,731,866			1,566,476,737			1,566,476,737
Personal Investment Class		16,597,262			16,597,262			8,460,874			8,460,874
Cash Management Class		502,774,048			502,774,048			1,020,500,616			1,020,500,616
Reserve Class		1,286,100,892			1,286,100,892			1,184,114,517			1,184,114,517
Resource Class		575,440,585			575,440,585			1,448,949,173			1,448,949,173
Corporate Class		4,225,553,621			4,225,553,621			2,472,495,311			2,472,495,311
CAVU Securities Class^(b)		24,758,726,005			24,758,726,005			11,182,358,336			11,182,358,336
Issued as reinvestment of dividends:

Institutional Class		1,500,984			1,500,984			2,364,199			2,364,199
Private Investment Class		42,484			42,484			77,027			77,027
Personal Investment Class		1,075			1,075			1,664			1,664
Cash Management Class		42,314			42,314			62,947			62,947
Reserve Class		62,697			62,697			96,732			96,732
Resource Class		13,444			13,444			22,306			22,306
Corporate Class		99,960			99,960			20,996			20,996
CAVU Securities Class		231,219			231,219			68,987			68,987
Reacquired:
Institutional Class		(157,984,925,751	)		(157,984,925,751	)		(268,795,922,713	)		(268,795,922,713	)
Private Investment Class		(683,314,897	)		(683,314,897	)		(1,642,674,819	)		(1,642,674,819	)
Personal Investment Class		(10,241,730	)		(10,241,730	)		(12,632,377	)		(12,632,377	)
Cash Management Class		(294,346,362	)		(294,346,362	)		(704,092,281	)		(704,092,281	)
Reserve Class		(1,156,572,694	)		(1,156,572,694	)		(1,177,156,626	)		(1,177,156,626	)
Resource Class		(559,327,111	)		(559,327,111	)		(1,474,219,663	)		(1,474,219,663	)
Corporate Class		(4,289,473,251	)		(4,289,473,251	)		(1,421,688,484	)		(1,421,688,484	)
CAVU Securities Class		(22,294,548,474	)		(22,294,548,474	)		(9,740,577,642	)		(9,740,577,642	)
Net increase in share activity		7,318,133,833		$	7,318,133,833			21,915,223,186		$	21,915,223,186

^(a)

^(b)	Commencement date of December 18, 2020.

31 Short-Term Investments Trust

Calculating your ongoing Fund expenses

Example

As a shareholder in the CAVU Securities Class, you incur ongoing costs, including management fees and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period September 1, 2021 through February 28, 2022.

Actual expenses

Hypothetical example for comparison purposes


CAVU Securities Class	Beginning Account Value (09/01/21)	ACTUAL		HYPOTHETICAL (5% annual return before expenses)		Annualized Expense Ratio
		Ending Account Value (02/28/22)¹	Expenses Paid During Period²	Ending Account Value (02/28/22)	Expenses Paid During Period²
Invesco Liquid Assets Portfolio	$1,000.00	$999.70	$0.84	$1,023.95	$0.85	0.17%
Invesco Treasury Portfolio	1,000.00	1,000.10	0.35	1,024.45	0.35	0.07
Invesco Government & Agency Portfolio	1,000.00	1,000.10	0.30	1,024.50	0.30	0.06

²	Expenses are equal to each Fund’s annualized expense ratio as indicated above multiplied by the average account value over the period, multiplied by 181/365 to reflect the most recent fiscal half year.

32 Short-Term Investments Trust

(This page intentionally left blank)

Invesco mailing information

Send general correspondence to Invesco Investment Services, Inc., P.O. Box 219078, Kansas City, MO 64121-9078.

Important notice regarding delivery of security holder documents

Fund holdings and proxy voting information

LOGO


SEC file numbers: 811-02729 and 002-58287		Invesco Distributors, Inc.		CM-STIT-SAR-8

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.

SCHEDULE OF INVESTMENTS.

Investments in securities of unaffiliated issuers is included as part of the reports to stockholders filed under Item 1 of this Form.

ITEM 7.

DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 8.

PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 9.

PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable.

ITEM 10.

SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

ITEM 11.

CONTROLS AND PROCEDURES.

(a)

As of April 19, 2022, 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 (“Act”), as amended. Based on that evaluation, the Registrant’s officers, including the PEO and PFO, concluded that, as of April 19, 2022, the Registrant’s disclosure controls and procedures were reasonably designed so as to ensure: (1) that information required to be disclosed by the Registrant on Form N-CSR is 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 12.

DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 13.

EXHIBITS.


13(a) (1)		Not applicable.

13(a) (2)		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.

13(a) (3)		Not applicable.

13(a) (4)		Not applicable.

13(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: Short-Term Investments Trust


By:		/s/ Sheri Morris
		Sheri Morris
		Principal Executive Officer

Date: May 6, 2022

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/ Sheri Morris
		Sheri Morris
		Principal Executive Officer

Date: May 6, 2022

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

Date: May 6, 2022