Schedule of Investments  
November 30, 2024
(Unaudited) 
 
Interest
Rate
Maturity
Date
Principal
Amount
(000)
Value
Municipal Obligations–148.80%(a)
Alabama–3.27%
Birmingham (City of), AL Special Care Facilities Financing Authority (Methodist Home for the Aging);
Series 2016, RB
 5.75%
06/01/2045
 
$225
$217,131
Black Belt Energy Gas District (The); Series 2023 B, RB(b)
 5.25%
12/01/2030
 
1,420
1,546,781
Energy Southeast, A Cooperative District; Series 2024 B, RB(b)
 5.25%
06/01/2032
 
990
1,079,601
Huntsville (City of), AL Special Care Facilities Financing Authority (Redstone Village); Series 2007,
RB (Acquired 12/17/2007-12/18/2007; Cost $1,503,463)(c)(d)
 5.50%
01/01/2043
 
1,725
966,000
Jefferson (County of), AL; Series 2024, Ref. Revenue Wts.
 5.25%
10/01/2049
 
3,500
3,805,005
Lower Alabama Gas District (The); Series 2016 A, RB
 5.00%
09/01/2046
 
3,745
4,194,618
Southeast Energy Authority, A Cooperative District (No. 2);
      
 
 
Series 2021 B, RB(b)
 4.00%
12/01/2031
 
1,495
1,522,363
Series 2024 A, RB
 5.00%
11/01/2035
 
1,715
1,805,709
Southeast Energy Authority, A Cooperative District (No. 3); Series 2022 A-1, RB(b)
 5.50%
12/01/2029
 
1,405
1,517,945
Tuscaloosa (County of), AL Industrial Development Authority (Hunt Refining); Series 2019 A, Ref.
IDR(e)
 5.25%
05/01/2044
 
825
843,853
University of South Alabama; Series 2024 A, Ref. RB (INS - BAM)(f)
 5.25%
04/01/2054
 
2,290
2,502,463
 
 
 
 
20,001,469
Alaska–0.06%
Northern Tobacco Securitization Corp.; Series 2021 A-1, Ref. RB
 4.00%
06/01/2050
 
420
383,893
Arizona–2.80%
Arizona (State of) Industrial Development Authority; Series 2019-2A, Revenue Ctfs.
 3.63%
05/20/2033
 
85
82,175
Arizona (State of) Industrial Development Authority (Leman Academy of Excellence); Series 2019 A,
RB(e)
 5.00%
07/01/2039
 
1,195
1,199,631
Arizona (State of) Industrial Development Authority (Leman Academy-Parker Colorado);
Series 2019, RB(e)
 5.00%
07/01/2049
 
500
490,956
Arizona (State of) Industrial Development Authority (Master Academy of Nevada - Bonanza Campus);
Series 2020 A, RB(e)
 5.00%
12/15/2050
 
820
823,234
Glendale (City of), AZ Industrial Development Authority (The Beatitudes Campus);
      
 
 
Series 2017, Ref. RB
 5.00%
11/15/2030
 
1,150
1,135,432
Series 2017, Ref. RB
 5.00%
11/15/2045
 
890
774,100
Maricopa (County of), AZ Industrial Development Authority (Legacy Traditional Schools);
Series 2019, Ref. RB(e)
 5.00%
07/01/2049
 
225
227,146
Mesa (City of), AZ; Series 2022 A, RB (INS - BAM)(f)
 5.00%
07/01/2046
 
3,010
3,277,489
Pima (County of), AZ Industrial Development Authority (American Leadership Academy);
Series 2019, Ref. RB(e)
 5.00%
06/15/2052
 
360
353,522
Pima (County of), AZ Industrial Development Authority (Grande Innovations Academy); Series 2018,
RB(e)
 5.25%
07/01/2048
 
1,190
1,189,968
Salt River Project Agricultural Improvement & Power District; Series 2023 B, RB
 5.00%
01/01/2048
 
3,300
3,639,851
Salt Verde Financial Corp.;
      
 
 
Series 2007, RB
 5.00%
12/01/2032
 
770
838,419
Series 2007, RB
 5.00%
12/01/2037
 
1,805
1,998,293
Yuma (City of), AZ Industrial Development Authority (Regional Medical Center); Series 2014 A,
RB(b)(g)
 5.25%
01/02/2025
 
1,060
1,061,596
 
 
 
 
17,091,812
Arkansas–0.10%
Arkansas (State of) Development Finance Authority (Baptist Memorial Health); Series 2020, Ref. RB
 5.00%
09/01/2044
 
610
631,155
California–12.39%
Beverly Hills Unified School District (Election of 2008); Series 2009, GO Bonds(h)
 0.00%
08/01/2028
 
800
722,258
California (State of);
      
 
 
Series 2020, GO Bonds (INS - BAM)(f)
 3.00%
11/01/2050
 
1,680
1,384,336
Series 2023, GO Bonds(i)
 5.25%
09/01/2053
 
3,300
3,724,265
California (State of) Community Choice Financing Authority (Clean Energy); Series 2024, RB(b)
 5.00%
04/01/2032
 
2,475
2,687,331
California (State of) County Tobacco Securitization Agency; Series 2020 A, Ref. RB
 4.00%
06/01/2037
 
275
279,508
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Trust
 
Interest
Rate
Maturity
Date
Principal
Amount
(000)
Value
California–(continued)
California (State of) County Tobacco Securitization Agency (Alameda County Tobacco Asset
Securitization Corp.); Series 2006 C, RB(h)
 0.00%
06/01/2055
 
$11,000
$1,147,666
California (State of) County Tobacco Securitization Agency (Los Angeles County Securitization Corp.);
      
 
 
Series 2020 B-1, Ref. RB
 5.00%
06/01/2049
 
35
35,673
Series 2020 B-2, Ref. RB(h)
 0.00%
06/01/2055
 
1,670
328,351
California (State of) Health Facilities Financing Authority (Cedars-Sinai Health System); Series 2021
A, Ref. RB
 5.00%
08/15/2051
 
4,285
4,643,063
California (State of) Health Facilities Financing Authority (PIH Health); Series 2020 A, RB
 4.00%
06/01/2050
 
4,185
4,159,287
California (State of) Housing Finance Agency (Social Certificates);
      
 
 
Series 2021-2A, Revenue Ctfs. (CEP - FHLMC)
 3.75%
03/25/2035
 
4,022
4,016,979
Series 2023-1, RB
 4.38%
09/20/2036
 
830
867,877
California (State of) Infrastructure & Economic Development Bank (California State Teachers’
Retirement System Headquarters Expansion) (Green Bonds); Series 2019, RB
 5.00%
08/01/2049
 
1,940
2,047,984
California (State of) Municipal Finance Authority (Bella Mente Montessori Academy); Series 2018 A,
RB(e)
 5.00%
06/01/2048
 
165
165,998
California (State of) Municipal Finance Authority (CHF-Davis I, LLC - West Village Student Housing);
Series 2018, RB
 5.00%
05/15/2037
 
1,340
1,407,559
California (State of) Municipal Finance Authority (Linxs APM);
      
 
 
Series 2018 A, RB(j)
 5.00%
12/31/2036
 
1,675
1,730,931
Series 2018 A, RB(j)
 5.00%
12/31/2047
 
2,010
2,038,602
California (State of) Municipal Finance Authority (William Jessup University); Series 2019, Ref. RB(e)
 5.00%
08/01/2039
 
250
231,806
California (State of) Pollution Control Financing Authority (Plant Bonds);
      
 
 
Series 2012, RB(e)(j)
 5.00%
07/01/2027
 
765
765,707
Series 2012, RB(e)(j)
 5.00%
07/01/2030
 
220
220,175
Series 2012, RB(e)(j)
 5.00%
07/01/2037
 
2,280
2,281,116
Series 2012, RB(e)(j)
 5.00%
11/21/2045
 
2,675
2,675,345
California (State of) Statewide Communities Development Authority (Loma Linda University Medical
Center); Series 2016 A, RB(e)
 5.25%
12/01/2056
 
1,005
1,015,652
California State University; Series 2019 A, RB(i)
 5.00%
11/01/2049
 
2,120
2,253,030
CSCDA Community Improvement Authority (Jefferson-Anaheim Social Bonds); Series 2021 A, RB(e)
 3.13%
08/01/2056
 
840
642,600
Daly (City of), CA Housing Development Finance Agency (Franciscan Mobile Home Park Acquisition);
Series 2007 C, Ref. RB
 6.50%
12/15/2047
 
365
365,051
Desert Community College District (Election of 2016); Series 2024, GO Bonds
 4.00%
08/01/2051
 
855
863,037
Golden State Tobacco Securitization Corp.; Series 2021 B-2, Ref. RB(h)
 0.00%
06/01/2066
 
1,535
172,335
Los Angeles (City of), CA Department of Airports (Green Bonds);
      
 
 
Series 2022 G, RB(j)
 5.50%
05/15/2035
 
1,750
1,983,082
Series 2022 G, RB(j)
 5.50%
05/15/2037
 
750
844,850
Los Angeles (City of), CA Department of Water & Power; Series 2020 B, RB(i)
 5.00%
07/01/2050
 
2,340
2,517,361
Montebello Unified School District; Series 2022 B, GO Bonds (INS - AGM)(f)
 5.00%
08/01/2050
 
1,235
1,332,214
M-S-R Energy Authority; Series 2009 B, RB
 6.50%
11/01/2039
 
585
761,212
Mt. San Antonio Community College District (Election of 2008); Series 2013 A, GO Bonds(k)
 6.25%
08/01/2043
 
2,010
2,025,798
Oxnard School District (Election of 2022); Series 2023 A, GO Bonds (INS - BAM)(f)
 4.25%
08/01/2053
 
3,075
3,152,255
Regents of the University of California Medical Center; Series 2022 P, RB(i)(l)
 4.00%
05/15/2053
 
5,435
5,489,886
Sacramento (City of), CA Unified School District; Series 2024 B, GO Bonds (INS - BAM)(f)
 4.00%
08/01/2048
 
1,205
1,214,715
San Diego (County of), CA Regional Airport Authority;
      
 
 
Series 2021 A, RB
 4.00%
07/01/2051
 
2,065
2,068,421
Series 2021 A, RB
 5.00%
07/01/2056
 
2,010
2,158,908
Series 2023 B, RB(j)
 5.00%
07/01/2048
 
2,475
2,633,478
San Francisco (City & County of), CA Airport Commission (San Francisco International Airport);
      
 
 
Series 2019 E, RB(j)
 5.00%
05/01/2038
 
680
713,984
Series 2019 E, RB(j)
 5.00%
05/01/2050
 
2,360
2,435,956
Series 2021 A, Ref. RB(j)
 5.00%
05/01/2036
 
610
656,471
Silicon Valley Tobacco Securitization Authority (Santa Clara); Series 2007 A, RB(h)
 0.00%
06/01/2041
 
3,485
1,383,301
Southern California Public Power Authority (Clean Energy); Series 2024 A, RB(b)
 5.00%
09/01/2030
 
1,345
1,442,250
 
 
 
 
75,687,664
Colorado–6.22%
Arista Metropolitan District; Series 2023 A, Ref. GO Bonds (INS - BAM)(f)
 4.50%
12/01/2058
 
2,340
2,360,715
Aurora Highlands Community Authority Board; Series 2021 A, Ref. RB
 5.75%
12/01/2051
 
840
823,098
Belford North Metropolitan District; Series 2020 A, GO Bonds
 5.50%
12/01/2050
 
1,040
997,987
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Trust
 
Interest
Rate
Maturity
Date
Principal
Amount
(000)
Value
Colorado–(continued)
Bromley Park Metropolitan District No. 2; Series 2023, Ref. GO Bonds (INS - BAM)(f)
 5.38%
12/01/2053
 
$610
$670,043
Centerra Metropolitan District No. 1 (In the City of Loveland);
      
 
 
Series 2017, RB(e)
 5.00%
12/01/2047
 
1,680
1,649,937
Series 2020 A, Ref. GO Bonds
 5.00%
12/01/2051
 
670
647,772
Series 2022, RB
 6.50%
12/01/2053
 
585
609,446
Colorado (State of) Health Facilities Authority (Adventhealth Obligated Group); Series 2021 A, Ref.
RB
 4.00%
11/15/2050
 
745
717,863
Colorado (State of) Health Facilities Authority (Adventist Health System/Sunbelt Obligated Group);
Series 2018 A, RB
 5.00%
11/15/2048
 
1,670
1,729,028
Colorado (State of) Health Facilities Authority (CommonSpirit Health);
      
 
 
Series 2019 A-2, Ref. RB
 5.00%
08/01/2044
 
3,680
3,834,835
Series 2019 A-2, Ref. RB
 4.00%
08/01/2049
 
1,675
1,567,013
Colorado (State of) Health Facilities Authority (Volunteers of America Care);
      
 
 
Series 2007 A, RB
 5.25%
07/01/2027
 
185
178,897
Series 2007 A, RB
 5.30%
07/01/2037
 
100
84,663
Colorado (State of) High Performance Transportation Enterprise (C-470 Express Lanes);
Series 2017, RB
 5.00%
12/31/2047
 
920
920,217
Colorado Crossing Metropolitan District No. 2; Series 2020 A-1, Ref. GO Bonds
 5.00%
12/01/2047
 
500
500,296
Denver (City & County of), CO;
      
 
 
Series 2018 A, Ref. RB(j)
 5.00%
12/01/2048
 
5,260
5,402,347
Series 2018 A, Ref. RB(j)
 5.25%
12/01/2048
 
1,735
1,805,503
Series 2018 A-2, RB(h)
 0.00%
08/01/2034
 
1,325
897,017
Series 2022 A, RB(j)
 5.00%
11/15/2036
 
945
1,030,200
Series 2022 A, RB(j)
 5.00%
11/15/2047
 
2,500
2,647,282
Great Western Metropolitan District; Series 2020, Ref. GO Bonds
 4.75%
12/01/2050
 
460
430,494
Jefferson (County of), CO Center Metropolitan District No. 1; Series 2020 B, Ref. RB
 5.75%
12/15/2050
 
1,980
2,009,294
Johnstown Plaza Metropolitan District; Series 2022, Ref. GO Bonds
 4.25%
12/01/2046
 
758
706,049
Mulberry Metropolitan District No. 2; Series 2022, RB
 7.00%
12/01/2034
 
755
785,530
North Range Metropolitan District No. 3; Series 2020 A, GO Bonds
 5.00%
12/01/2040
 
500
506,231
Rampart Range Metropolitan District No. 5; Series 2021, RB
 4.00%
12/01/2051
 
500
435,670
Sky Ranch Community Authority Board; Series 2022 A, RB
 5.75%
12/01/2052
 
500
501,209
Village Metropolitan District (The); Series 2020, Ref. GO Bonds
 5.00%
12/01/2040
 
550
556,854
White Buffalo Metropolitan District No. 3;
      
 
 
Series 2020, GO Bonds
 5.50%
12/01/2050
 
500
499,116
Series 2023, GO Bonds
 8.00%
12/15/2035
 
608
609,112
Windler Public Improvement Authority;
      
 
 
Series 2021 A-1, RB
 4.13%
12/01/2051
 
500
396,150
Series 2021 A-2, RB(k)
 4.50%
12/01/2041
 
2,065
1,497,951
 
 
 
 
38,007,819
District of Columbia–3.26%
District of Columbia;
      
 
 
Series 2022 A, RB
 5.00%
07/01/2047
 
1,670
1,818,332
Series 2023 A, RB
 5.25%
05/01/2048
 
2,435
2,710,039
District of Columbia (Provident Group - Howard Properties LLC); Series 2013, RB
 5.00%
10/01/2045
 
660
657,416
District of Columbia Water & Sewer Authority (Green Bonds); Series 2022 C-1, RB
 4.00%
10/01/2051
 
3,370
3,374,570
Metropolitan Washington Airports Authority;
      
 
 
Series 2017, Ref. RB(j)
 5.00%
10/01/2042
 
2,675
2,737,344
Series 2019 B, Ref. RB
 4.00%
10/01/2049
 
1,675
1,597,517
Series 2024 A, Ref. RB(j)
 5.25%
10/01/2049
 
1,695
1,837,474
Series 2024 A, Ref. RB(j)
 5.50%
10/01/2054
 
2,530
2,784,169
Washington Metropolitan Area Transit Authority (Green Bonds); Series 2023 A, RB
 5.25%
07/15/2053
 
2,185
2,406,105
 
 
 
 
19,922,966
Florida–12.19%
Alachua (County of), FL Health Facilities Authority (Terraces at Bonita Springs); Series 2022 A, Ref.
RB (Acquired 01/25/2022; Cost $1,075,000)(c)(d)(e)
 5.00%
11/15/2061
 
1,075
774,536
Brevard (County of), FL Health Facilities Authority (Health First Obligated Group); Series 2022 A,
Ref. RB
 4.00%
04/01/2052
 
505
482,079
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Trust
 
Interest
Rate
Maturity
Date
Principal
Amount
(000)
Value
Florida–(continued)
Broward (County of), FL;
      
 
 
Series 2019 A, RB(j)
 4.00%
10/01/2049
 
$770
$742,356
Series 2019 A, RB(j)
 5.00%
10/01/2049
 
1,325
1,365,879
Series 2022 A, RB(i)(l)
 4.00%
10/01/2047
 
3,350
3,354,061
Series 2022, RB
 5.00%
01/01/2047
 
1,675
1,807,447
Broward (County of), FL (Convention Center Expansion); Series 2021, RB
 4.00%
09/01/2051
 
2,475
2,432,406
Cape Coral (City of), FL; Series 2023, Ref. RB (INS - BAM)(f)
 5.60%
03/01/2048
 
1,215
1,368,837
Collier (County of), FL Industrial Development Authority (The Arlington of Naples); Series 2014 A, RB
(Acquired 12/16/2013; Cost $947,089)(c)(d)(e)
 7.75%
05/15/2035
 
970
12,505
Davie (Town of), FL (Nova Southeastern University); Series 2018, Ref. RB
 5.00%
04/01/2048
 
1,360
1,397,048
Florida (State of) Higher Educational Facilities Financial Authority (Rollins College); Series 2024, RB
 5.25%
12/01/2054
 
2,000
2,202,633
Florida (State of) North Broward Hospital District; Series 2017 B, Ref. RB
 5.00%
01/01/2042
 
1,205
1,238,958
Florida Development Finance Corp. (Brightline Florida Passenger Rail Expansion);
      
 
 
Series 2024, Ref. RB(b)(e)(j)
12.00%
07/15/2028
 
750
800,437
Series 2024, Ref. RB(j)
 5.00%
07/01/2041
 
800
815,906
Series 2024, Ref. RB (INS - AGM)(f)(j)
 5.00%
07/01/2044
 
2,500
2,620,182
Series 2024, Ref. RB (INS - AGM)(f)(j)
 5.25%
07/01/2047
 
1,000
1,060,649
Series 2024, Ref. RB (INS - AGM)(f)(j)
 5.25%
07/01/2053
 
825
867,683
Series 2024, Ref. RB(j)
 5.50%
07/01/2053
 
800
835,295
Fort Lauderdale (City of), FL;
      
 
 
Series 2023, RB
 5.50%
09/01/2053
 
1,460
1,646,840
Series 2024, RB(i)
 5.50%
09/01/2053
 
2,520
2,842,490
Greater Orlando Aviation Authority;
      
 
 
Series 2017 A, RB(j)
 5.00%
10/01/2052
 
685
694,186
Series 2019 A, RB(j)
 4.00%
10/01/2044
 
2,500
2,479,264
Hillsborough (County of), FL; Series 2023, GO Bonds
 5.00%
07/01/2053
 
1,585
1,733,042
Hillsborough (County of), FL Aviation Authority (Tampa International Airport); Series 2018 E, RB(j)
 5.00%
10/01/2048
 
2,475
2,539,263
Hillsborough (County of), FL Industrial Development Authority (Baycare Health System); Series 2024
C, Ref. RB
 5.25%
11/15/2049
 
3,430
3,813,417
Jacksonville (City of), FL; Series 2023 A, Ref. RB
 5.50%
10/01/2053
 
2,430
2,733,775
JEA Water & Sewer System; Series 2024 A, Ref. RB
 5.25%
10/01/2049
 
1,220
1,354,025
Lake (County of), FL (Lakeside at Waterman Village);
      
 
 
Series 2020 A, Ref. RB
 5.50%
08/15/2040
 
650
661,707
Series 2020 A, Ref. RB
 5.75%
08/15/2050
 
285
288,699
Series 2020 A, Ref. RB
 5.75%
08/15/2055
 
1,055
1,064,582
Lee (County of), FL;
      
 
 
Series 2021 B, RB(j)
 5.00%
10/01/2034
 
1,030
1,105,271
Series 2022, RB
 5.25%
08/01/2049
 
1,675
1,806,340
Miami (City of) & Dade (County of), FL School Board; Series 2022 A, GO Bonds (INS - BAM)(f)
 5.00%
03/15/2052
 
1,985
2,144,990
Miami Beach (City of), FL; Series 2017, Ref. RB
 5.00%
09/01/2047
 
1,150
1,158,608
Miami Beach (City of), FL Health Facilities Authority (Mt. Sinai Medical Center); Series 2014, Ref. RB
 5.00%
11/15/2039
 
935
935,397
Miami-Dade (County of), FL;
      
 
 
Series 2021, RB
 4.00%
10/01/2048
 
3,325
3,326,182
Series 2022 A, Ref. RB(j)
 5.25%
10/01/2052
 
505
540,215
Series 2023 A, Ref. RB(j)
 5.00%
10/01/2047
 
2,115
2,231,536
Subseries 2021 A-2, Ref. RB (INS - AGM)(f)
 4.00%
10/01/2049
 
2,520
2,522,602
Miami-Dade (County of), FL Expressway Authority; Series 2010 A, RB
 5.00%
07/01/2040
 
2,605
2,659,586
Miami-Dade (County of), FL Transit System; Series 2022, RB
 5.00%
07/01/2052
 
2,345
2,512,680
Osceola (County of), FL;
      
 
 
Series 2020 A-2, Ref. RB(h)
 0.00%
10/01/2050
 
2,000
570,021
Series 2020 A-2, Ref. RB(h)
 0.00%
10/01/2052
 
450
115,277
Series 2020 A-2, Ref. RB(h)
 0.00%
10/01/2053
 
445
107,971
Series 2020 A-2, Ref. RB(h)
 0.00%
10/01/2054
 
385
88,415
Reunion East Community Development District; Series 2005, RB(c)(m)
 5.80%
05/01/2036
 
235
2
Sarasota (County of), FL Public Hospital District (Sarasota Memorial Hospital); Series 2022, RB
 4.00%
07/01/2052
 
1,340
1,289,032
South Miami Health Facilities Authority, Inc. (Baptist Health South Florida Obligated Group);
Series 2017, Ref. RB
 4.00%
08/15/2047
 
840
822,976
Sterling Hill Community Development District; Series 2003 A, RB(m)(n)
 6.20%
05/01/2035
 
735
338,275
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Trust
 
Interest
Rate
Maturity
Date
Principal
Amount
(000)
Value
Florida–(continued)
Sumter (County of), FL Industrial Development Authority (Central Florida Health Alliance);
Series 2014 A, RB
 5.25%
07/01/2044
 
$1,000
$1,000,733
Tallahassee (City of), FL (Tallahassee Memorial Health Care, Inc.); Series 2016, RB
 5.00%
12/01/2055
 
1,350
1,347,876
Tampa (City of), FL; Series 2020 A, RB(h)
 0.00%
09/01/2049
 
5,620
1,812,778
 
 
 
 
74,466,950
Georgia–2.89%
Brookhaven (City of), GA Development Authority (Children’s Healthcare of Atlanta, Inc.); Series 2019
A, RB(i)(l)
 4.00%
07/01/2044
 
3,345
3,346,543
Columbia (City of), GA (Wellstar Health System, Inc.); Series 2023, RAC
 5.13%
04/01/2048
 
1,095
1,189,200
DeKalb (County of), GA Housing Authority (Park at 500); Series 2024, RB
 4.00%
03/01/2034
 
1,000
1,003,108
Georgia (State of) Municipal Electric Authority (Plant Vogtle Units 3 & 4); Series 2021 A, Ref. RB
 4.00%
01/01/2046
 
660
639,337
Glynn (County of) & Brunswick (City of), GA Memorial Hospital Authority (Southeast Georgia Health
System); Series 2017, RAC
 5.00%
08/01/2047
 
3,950
3,962,103
Main Street Natural Gas, Inc.;
      
 
 
Series 2021 C, RB(b)
 4.00%
12/01/2028
 
1,240
1,257,949
Series 2022 C, RB(b)(e)
 4.00%
11/01/2027
 
1,260
1,262,790
Series 2024 A, RB(b)
 5.00%
09/01/2031
 
1,650
1,784,729
Series 2024 C, RB(b)
 5.00%
12/01/2031
 
3,000
3,216,647
 
 
 
 
17,662,406
Hawaii–1.10%
Hawaii (State of) Department of Budget & Finance (Hawaii Pacific Obligated Group);
      
 
 
Series 2024, RB
 5.00%
07/01/2041
 
3,720
4,084,154
Series 2024, RB
 5.50%
07/01/2052
 
2,380
2,636,908
 
 
 
 
6,721,062
Idaho–0.75%
Idaho (State of) Health Facilities Authority (Valley Vista Care Corp.);
      
 
 
Series 2017 A, Ref. RB
 5.00%
11/15/2032
 
355
329,401
Series 2017 A, Ref. RB
 5.25%
11/15/2037
 
500
447,432
Idaho (State of) Housing & Finance Association;
      
 
 
Series 2024 A, RB (CEP - GNMA)
 4.60%
01/01/2049
 
1,920
1,949,104
Series 2024, RB
 5.00%
08/15/2048
 
1,680
1,855,651
 
 
 
 
4,581,588
Illinois–6.58%
Chicago (City of), IL;
      
 
 
Series 2002 B, GO Bonds
 5.50%
01/01/2037
 
1,050
1,050,312
Series 2005 D, Ref. GO Bonds
 5.50%
01/01/2040
 
1,190
1,190,006
Series 2007 E, Ref. GO Bonds
 5.50%
01/01/2042
 
340
339,992
Series 2014, RB(b)(g)
 5.00%
12/23/2024
 
1,610
1,611,606
Series 2015 A, GO Bonds
 5.50%
01/01/2033
 
3,395
3,396,742
Series 2017 A, Ref. GO Bonds
 6.00%
01/01/2038
 
2,025
2,099,969
Chicago (City of), IL (Diversey/Narragansett); Series 2006, COP(m)
 7.46%
02/15/2026
 
376
274,228
Chicago (City of), IL (O’Hare International Airport);
      
 
 
Series 2012 B, Ref. RB(b)(g)(j)
 5.00%
12/02/2024
 
4,500
4,500,000
Series 2017 D, RB
 5.00%
01/01/2052
 
1,465
1,489,882
Series 2024 A, RB(j)
 5.50%
01/01/2053
 
2,160
2,365,291
Chicago (City of), IL Board of Education;
      
 
 
Series 2017 H, GO Bonds
 5.00%
12/01/2036
 
1,705
1,720,294
Series 2018 A, Ref. GO Bonds
 5.00%
12/01/2035
 
750
764,403
Chicago (City of), IL Park District;
      
 
 
Series 2020 D, GO Bonds (INS - BAM)(f)
 4.00%
01/01/2035
 
1,000
1,019,460
Series 2020 D, GO Bonds (INS - BAM)(f)
 4.00%
01/01/2038
 
1,330
1,346,238
Gilberts (Village of), IL Special Service Area No. 24 (The Conservancy); Subseries 2014 A, RB
 5.38%
03/01/2034
 
473
453,885
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Trust
 
Interest
Rate
Maturity
Date
Principal
Amount
(000)
Value
Illinois–(continued)
Illinois (State of);
      
 
 
Series 2014, GO Bonds(b)(g)
 5.00%
01/14/2025
 
$1,210
$1,212,281
Series 2014, GO Bonds(b)(g)
 5.00%
01/14/2025
 
450
450,848
Series 2014, GO Bonds(b)(g)
 5.25%
01/14/2025
 
1,250
1,252,641
Series 2016, GO Bonds
 5.00%
11/01/2036
 
1,120
1,146,374
Series 2017 C, GO Bonds
 5.00%
11/01/2029
 
265
277,269
Series 2017 D, GO Bonds
 5.00%
11/01/2026
 
1,115
1,154,894
Series 2018 A, GO Bonds
 5.00%
05/01/2030
 
1,225
1,292,968
Series 2020, GO Bonds
 5.50%
05/01/2039
 
1,385
1,510,751
Illinois (State of) Development Finance Authority (CITGO Petroleum Corp.); Series 2002, RB(j)
 8.00%
06/01/2032
 
360
360,489
Illinois (State of) Finance Authority (Lutheran Communities Obligated Group);
      
 
 
Series 2019 A, Ref. RB (Acquired 11/27/2019; Cost $62,477)(d)
 5.00%
11/01/2040
 
60
38,207
Series 2019 A, Ref. RB (Acquired 04/14/2020-10/05/2022; Cost $1,024,957)(d)
 5.00%
11/01/2049
 
1,220
741,157
Illinois (State of) Finance Authority (Mercy Health Corp.); Series 2016, Ref. RB
 5.00%
12/01/2046
 
4,075
4,122,076
Illinois (State of) Finance Authority (Park Place of Elmhurst); Series 2016, RB
 5.13%
05/15/2060
 
881
481,516
Illinois (State of) Finance Authority (Roosevelt University); Series 2007, RB
 5.50%
04/01/2037
 
1,000
975,463
Illinois (State of) Finance Authority (Three Crowns Park);
      
 
 
Series 2017, Ref. RB
 5.00%
02/15/2032
 
155
157,769
Series 2017, Ref. RB
 5.25%
02/15/2037
 
195
198,430
Illinois (State of) Sports Facilities Authority; Series 2014, Ref. RB (INS - AGM)(f)
 5.25%
06/15/2031
 
1,205
1,211,286
 
 
 
 
40,206,727
Indiana–1.28%
Fishers Town Hall Building Corp.; Series 2023 A, RB (INS - BAM)(f)
 5.63%
07/15/2053
 
2,435
2,797,313
Indiana (State of) Finance Authority (Indiana University Health Obligated Group); Series 2019 A, RB
 4.00%
12/01/2049
 
2,410
2,359,686
Indiana (State of) Finance Authority (US Steel Corp.); Series 2012, RB(j)
 5.75%
08/01/2042
 
240
240,214
Northern Indiana Commuter Transportation District; Series 2024, RB
 5.25%
01/01/2049
 
1,635
1,805,209
Whiting (City of), IN (BP Products North America, Inc.); Series 2015, RB(b)(j)
 4.40%
06/10/2031
 
620
637,696
 
 
 
 
7,840,118
Iowa–1.40%
Iowa (State of) Board of Regents (University of Iowa Hospital & Clinics); Series 2022 B, RB
 3.00%
09/01/2056
 
615
487,146
Iowa (State of) Finance Authority (Alcoa, Inc.); Series 2012, RB
 4.75%
08/01/2042
 
1,245
1,246,238
Iowa (State of) Finance Authority (Iowa Fertilizer Co.); Series 2022, Ref. RB(b)(g)
 5.00%
12/01/2032
 
2,740
3,167,975
Iowa (State of) Tobacco Settlement Authority;
      
 
 
Series 2021 A-2, Ref. RB
 4.00%
06/01/2034
 
1,300
1,330,719
Series 2021 A-2, Ref. RB
 4.00%
06/01/2049
 
300
283,279
Series 2021 B-1, Ref. RB
 4.00%
06/01/2049
 
155
155,000
PEFA, Inc.; Series 2019, RB(b)
 5.00%
09/01/2026
 
1,805
1,849,950
 
 
 
 
8,520,307
Kentucky–2.09%
Henderson (City of), KY (Pratt Paper LLC); Series 2022 A, RB(e)(j)
 4.70%
01/01/2052
 
670
670,375
Kentucky (Commonwealth of) Economic Development Finance Authority (Louisville Arena Authority,
Inc.); Series 2017 A, Ref. RB (INS - AGM)(f)
 5.00%
12/01/2047
 
530
530,106
Kentucky (Commonwealth of) Economic Development Finance Authority (Next Generation Kentucky
Information Highway);
      
 
 
Series 2015 A, RB
 5.00%
07/01/2037
 
1,110
1,115,139
Series 2015 A, RB
 5.00%
07/01/2040
 
985
988,049
Series 2015 A, RB
 5.00%
01/01/2045
 
1,335
1,337,787
Kentucky (Commonwealth of) Economic Development Finance Authority (Owensboro Health, Inc.);
Series 2017 A, Ref. RB
 5.25%
06/01/2041
 
1,265
1,291,223
Kentucky (Commonwealth of) Public Energy Authority; Series 2023 A-1, Ref. RB(b)
 5.25%
02/01/2032
 
1,650
1,793,356
Louisville (City of) & Jefferson (County of), KY Sewer District; Series 2023 C, Ref. RB
 5.00%
05/15/2053
 
4,670
5,055,642
 
 
 
 
12,781,677
Louisiana–1.10%
Louisiana (State of) Local Government Environmental Facilities & Community Development Authority
(St. James Parish Gomesa); Series 2019, RB(e)
 3.90%
11/01/2044
 
760
715,694
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Trust
 
Interest
Rate
Maturity
Date
Principal
Amount
(000)
Value
Louisiana–(continued)
Louisiana (State of) Public Facilities Authority (I-10 Calcasieu River Bridge);
      
 
 
Series 2024, RB(j)
 5.50%
09/01/2054
 
$855
$929,542
Series 2024, RB(j)
 5.50%
09/01/2059
 
1,710
1,852,028
New Orleans (City of), LA Aviation Board; Series 2015 A, RB(b)(g)
 5.00%
01/01/2025
 
2,680
2,683,370
New Orleans (City of), LA Aviation Board (Parking Facilities Corp. Consolidated Garage System);
Series 2018 A, RB (INS - AGM)(f)
 5.00%
10/01/2048
 
495
510,773
 
 
 
 
6,691,407
Maryland–0.87%
Brunswick (City of), MD (Brunswick Crossing); Series 2019, RB
 5.00%
07/01/2036
 
384
392,220
Howard (County of), MD Housing Commission (Social Bonds); Series 2024, RB
 4.13%
12/01/2043
 
1,000
992,831
Maryland (State of) Health & Higher Educational Facilities Authority (MedStar Health); Series 2017 A,
RB
 5.00%
05/15/2045
 
995
1,020,596
Maryland (State of) Health & Higher Educational Facilities Authority (Stevenson University);
Series 2021 A, Ref. RB
 4.00%
06/01/2041
 
375
355,225
Maryland Economic Development Corp. (Green Bonds); Series 2022, RB(j)
 5.25%
06/30/2052
 
1,540
1,615,644
Prince George’s (County of), MD (Collington Episcopal Life Care Community, Inc.); Series 2017, Ref.
RB
 5.00%
04/01/2029
 
905
914,650
 
 
 
 
5,291,166
Massachusetts–2.73%
Massachusetts (Commonwealth of); Series 2024, RB(i)
 5.00%
06/01/2053
 
4,585
4,988,937
Massachusetts (Commonwealth of) (Rail Enhancement Program) (Sustainability Bonds); Series 2022,
RB
 5.00%
06/01/2050
 
690
737,571
Massachusetts (Commonwealth of) Bay Transportation Authority (Sustainability Bonds); Series 2024
B, RB
 5.25%
07/01/2054
 
3,000
3,346,528
Massachusetts (Commonwealth of) Development Finance Agency (Boston Medical Center);
Series 2023, Ref. RB
 5.25%
07/01/2048
 
1,455
1,569,879
Massachusetts (Commonwealth of) Development Finance Agency (Massachusetts Institute of
Technology); Series 2002 K, RB(i)
 5.50%
07/01/2032
 
2,500
3,011,650
Massachusetts (Commonwealth of) Development Finance Agency (Milford Regional Medical Center);
Series 2020, Ref. RB(e)
 5.00%
07/15/2037
 
245
258,999
Massachusetts (Commonwealth of) Port Authority;
      
 
 
Series 2019 A, Ref. RB(j)
 5.00%
07/01/2040
 
1,000
1,048,511
Series 2021 E, RB(j)
 5.00%
07/01/2046
 
1,060
1,113,527
Massachusetts (Commonwealth of) Water Resources Authority; Series 2007 B, Ref. RB (INS - AGM)(f)
 5.25%
08/01/2031
 
500
582,747
 
 
 
 
16,658,349
Michigan–3.38%
Academy of Warren; Series 2020 A, RB(e)
 5.50%
05/01/2050
 
250
242,990
Lansing (City of), MI; Series 2024, RB(i)
 5.25%
07/01/2054
 
3,575
3,981,869
Michigan (State of);
      
 
 
Series 2023, RB
 5.00%
11/15/2046
 
2,800
3,119,095
Series 2024, RB(i)
 5.50%
11/15/2049
 
3,120
3,568,972
Michigan (State of) Finance Authority (Landmark Academy);
      
 
 
Series 2020, Ref. RB
 5.00%
06/01/2035
 
165
167,853
Series 2020, Ref. RB
 5.00%
06/01/2045
 
490
484,428
Michigan (State of) Finance Authority (Trinity Health Credit Group); Series 2017 MI, RB(g)(i)(l)
 5.00%
12/01/2046
 
3,890
3,980,105
Michigan (State of) Housing Development Authority; Series 2023 A, RB
 5.10%
10/01/2053
 
1,950
2,040,144
Michigan (State of) Strategic Fund (Green Bonds); Series 2021, RB(b)(j)
 4.00%
10/01/2026
 
2,520
2,524,302
Michigan (State of) Strategic Fund (I-75 Improvement Project); Series 2018, RB(j)
 5.00%
06/30/2030
 
545
569,696
 
 
 
 
20,679,454
Minnesota–1.06%
Bethel (City of), MN (Spectrum High School);
      
 
 
Series 2017 A, Ref. RB
 4.25%
07/01/2047
 
305
284,007
Series 2017 A, Ref. RB
 4.38%
07/01/2052
 
500
461,928
Duluth (City of), MN Economic Development Authority (Essentia Health Obligated Group);
Series 2018, Ref. RB
 5.00%
02/15/2048
 
595
608,723
Minneapolis & St. Paul (Cities of), MN Metropolitan Airports Commission; Series 2024, RB(j)
 5.25%
01/01/2049
 
1,715
1,855,815
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Trust
 
Interest
Rate
Maturity
Date
Principal
Amount
(000)
Value
Minnesota–(continued)
Minnesota Agricultural & Economic Development Board (Healthpartners Obligated Group);
Series 2024, RB
 5.25%
01/01/2054
 
$1,650
$1,812,274
St. Cloud (City of), MN (CentraCare Health System); Series 2024, Ref. RB
 5.00%
05/01/2054
 
600
645,329
St. Paul (City of), MN Housing & Redevelopment Authority (Higher Ground Academy); Series 2023,
Ref. RB
 5.50%
12/01/2057
 
500
518,789
St. Paul (City of), MN Housing & Redevelopment Authority (Hope Community Academy); Series 2020,
RB
 5.00%
12/01/2055
 
425
309,634
 
 
 
 
6,496,499
Mississippi–0.12%
Mississippi Business Finance Corp. (System Energy Resources, Inc.); Series 2021, RB
 2.38%
06/01/2044
 
1,120
734,029
Missouri–2.44%
Kansas City (City of), MO Industrial Development Authority (Downtown Redevelopment District);
      
 
 
Series 2011 A, Ref. RB
 5.50%
09/01/2027
 
750
751,507
Series 2011 A, Ref. RB
 5.50%
09/01/2028
 
1,515
1,518,045
Kansas City (City of), MO Industrial Development Authority (Kansas City International Airport);
      
 
 
Series 2019 B, RB(j)
 5.00%
03/01/2046
 
4,740
4,869,908
Series 2019 B, RB (INS - AGM)(f)(j)
 5.00%
03/01/2049
 
1,005
1,030,614
Kirkwood (City of), MO Industrial Development Authority (Aberdeen Heights); Series 2017 A, Ref. RB
 5.25%
05/15/2050
 
510
457,338
Missouri (State of) Health & Educational Facilities Authority (Lutheran Senior Services); Series 2019,
Ref. RB
 5.00%
02/01/2048
 
330
336,462
St. Louis (City of), MO; Series 2024, RB (INS - AGM)(f)
 5.25%
07/01/2054
 
3,000
3,305,989
St. Louis (County of), MO Industrial Development Authority (Friendship Village West County);
Series 2018 A, RB
 5.00%
09/01/2038
 
1,845
1,874,451
Taney (County of), MO Industrial Development Authority (Big Cedar Infrastructure); Series 2023,
RB(e)
 6.00%
10/01/2049
 
770
780,101
 
 
 
 
14,924,415
Nebraska–1.38%
Central Plains Energy Project (No. 3); Series 2017 A, Ref. RB
 5.00%
09/01/2042
 
3,740
4,213,265
Central Plains Energy Project (No. 5); Series 2022-1, RB(b)
 5.00%
10/01/2029
 
825
871,020
Nebraska Investment Finance Authority (Social Bonds); Series 2023 G, RB (CEP - GNMA)
 5.35%
09/01/2048
 
1,030
1,081,269
Omaha (City of), NE Public Power District; Series 2022, RB(i)(l)
 5.25%
02/01/2052
 
2,075
2,276,544
 
 
 
 
8,442,098
Nevada–0.92%
Clark (County of), NV Water Reclamation District; Series 2024, GO Bonds(i)
 5.00%
07/01/2053
 
5,185
5,633,558
New Hampshire–0.69%
New Hampshire (State of) Business Finance Authority; Series 2020-1A, RB
 4.13%
01/20/2034
 
297
301,726
New Hampshire (State of) Business Finance Authority (Social Bonds); Series 2022-1A, RB
 4.38%
09/20/2036
 
1,618
1,633,762
New Hampshire (State of) Health and Education Facilities Authority; Series 2020 A, RB
 5.00%
08/01/2059
 
1,105
1,256,773
New Hampshire (State of) Housing Finance Authority (Social Bonds); Series 2023 D, RB (CEP - GNMA)
 5.13%
07/01/2053
 
1,000
1,040,393
 
 
 
 
4,232,654
New Jersey–7.35%
East Orange (City of), NJ Board of Education;
      
 
 
Series 1998, COP (INS - AGM)(f)(h)
 0.00%
02/01/2025
 
1,845
1,833,806
Series 1998, COP (INS - AGM)(f)(h)
 0.00%
02/01/2028
 
2,850
2,555,230
Essex (County of), NJ Improvement Authority; Series 2004, Ref. RB (INS - NATL)(f)
 5.50%
10/01/2028
 
1,000
1,105,395
Garden State Preservation Trust;
      
 
 
Series 2003 B, RB (INS - AGM)(f)(h)
 0.00%
11/01/2025
 
2,000
1,938,995
Series 2005 A, RB (INS - AGM)(f)
 5.75%
11/01/2028
 
820
875,415
New Jersey (State of) Economic Development Authority;
      
 
 
Series 2004 A, RB (INS - BHAC)(f)(i)
 5.25%
07/01/2026
 
7,000
7,243,060
Series 2005 N-1, Ref. RB (INS - AMBAC)(f)
 5.50%
09/01/2026
 
1,500
1,564,109
New Jersey (State of) Economic Development Authority (Continental Airlines, Inc.);
      
 
 
Series 1999, RB(j)
 5.25%
09/15/2029
 
390
390,425
Series 2012, RB(j)
 5.75%
09/15/2027
 
400
400,582
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Trust
 
Interest
Rate
Maturity
Date
Principal
Amount
(000)
Value
New Jersey–(continued)
New Jersey (State of) Economic Development Authority (Kapkowski Road Landfill); Series 2002, Ref.
RB
 5.75%
04/01/2031
 
$1,000
$1,025,687
New Jersey (State of) Economic Development Authority (The Goethals Bridge Replacement);
      
 
 
Series 2013, RB(j)
 5.13%
01/01/2034
 
1,250
1,251,281
Series 2013, RB(j)
 5.38%
01/01/2043
 
1,250
1,251,014
New Jersey (State of) Health Care Facilities Financing Authority (Inspira Health Obligated Group);
Series 2017, RB
 4.00%
07/01/2047
 
3,835
3,789,839
New Jersey (State of) Transportation Trust Fund Authority;
      
 
 
Series 2009 A, RB(h)
 0.00%
12/15/2039
 
6,000
3,381,805
Series 2010 A, RB(h)
 0.00%
12/15/2030
 
1,600
1,307,386
Series 2010 A, RB(h)
 0.00%
12/15/2031
 
3,000
2,362,752
Series 2022, RB(b)(g)
 5.25%
12/15/2032
 
735
863,431
Series 2022, RB
 5.25%
06/15/2046
 
695
766,172
New Jersey (State of) Turnpike Authority; Series 2005 A, Ref. RB (INS - AGM)(f)
 5.25%
01/01/2027
 
705
742,163
Rahway Valley Sewerage Authority (The); Series 2005 A, RB (INS - NATL)(f)(h)
 0.00%
09/01/2032
 
5,000
3,811,366
Tobacco Settlement Financing Corp.;
      
 
 
Series 2018 A, Ref. RB
 5.00%
06/01/2046
 
2,935
2,995,318
Series 2018 A, Ref. RB
 5.25%
06/01/2046
 
1,670
1,720,458
Series 2018 B, Ref. RB
 5.00%
06/01/2046
 
1,725
1,733,681
 
 
 
 
44,909,370
New York–20.25%
Build NYC Resource Corp. (Brooklyn Navy Yard); Series 2019, Ref. RB (LOC - Santander Bank
N.A.)(e)(j)(o)
 5.25%
12/31/2033
 
400
403,633
Erie Tobacco Asset Securitization Corp.; Series 2005 A, RB
 5.00%
06/01/2045
 
2,710
2,501,349
Metropolitan Transportation Authority (Green Bonds);
      
 
 
Series 2016 A-1, RB
 5.00%
11/15/2041
 
1,980
2,002,759
Series 2020 A-1, RB (INS - AGM)(f)
 4.00%
11/15/2041
 
1,165
1,170,384
Series 2020 C-1, RB
 5.25%
11/15/2055
 
1,335
1,404,653
New York & New Jersey (States of) Port Authority;
      
 
 
Eighty-Fifth Series 1993, RB (INS - NATL)(f)
 5.38%
03/01/2028
 
1,020
1,073,221
Series 2020 221, RB(j)
 4.00%
07/15/2060
 
2,345
2,188,984
Two Hundred Fifth Series 2017, Ref. RB
 5.25%
11/15/2057
 
1,645
1,720,365
New York (City of), NY;
      
 
 
Series 2020 C, GO Bonds
 5.00%
08/01/2043
 
2,470
2,661,381
Subseries 2014 I-2, VRD GO Bonds(p)
 0.60%
03/01/2040
 
2,000
2,000,000
Subseries 2022 D-1, GO Bonds(i)
 5.25%
05/01/2038
 
1,355
1,540,856
Subseries 2022 D-1, GO Bonds(i)
 5.25%
05/01/2042
 
2,305
2,581,166
Subseries 2023 E-1, GO Bonds
 5.25%
04/01/2047
 
1,505
1,672,755
New York (City of), NY Municipal Water Finance Authority;
      
 
 
Series 2020 BB-1, RB
 4.00%
06/15/2050
 
1,675
1,669,887
Series 2020 BB-1, RB
 5.00%
06/15/2050
 
3,240
3,454,613
Series 2020, Ref. RB
 5.00%
06/15/2050
 
1,635
1,743,300
Series 2024 AA, RB
 5.25%
06/15/2053
 
1,715
1,927,237
New York (City of), NY Transitional Finance Authority;
      
 
 
Series 2019 B-1, RB
 4.00%
11/01/2045
 
860
861,180
Series 2023 F-1, RB
 4.00%
02/01/2051
 
2,540
2,517,843
Series 2024 B, RB
 4.38%
05/01/2053
 
2,145
2,182,759
New York (State of) Dormitory Authority;
      
 
 
Series 2017 B, Ref. RB(b)(g)
 4.00%
08/15/2027
 
5
5,189
Series 2017 B, Ref. RB
 4.00%
02/15/2047
 
1,940
1,941,225
Series 2018 A, Ref. RB
 5.25%
03/15/2039
 
1,240
1,332,952
Series 2018 E, RB(i)
 5.00%
03/15/2046
 
5,715
5,994,367
New York (State of) Dormitory Authority (Memorial Sloan Kettering Cancer); Series 2022 1-B, RB
 4.00%
07/01/2051
 
3,640
3,648,574
New York (State of) Power Authority; Series 2020 A, RB(i)
 4.00%
11/15/2045
 
3,675
3,676,733
New York (State of) Power Authority (Green Bonds); Series 2020, RB(i)
 4.00%
11/15/2055
 
4,185
4,133,722
New York (State of) Power Authority (Green Transmission) (Green Bonds); Series 2023, RB (INS -
AGM)(f)
 5.00%
11/15/2053
 
1,705
1,862,059
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Trust
 
Interest
Rate
Maturity
Date
Principal
Amount
(000)
Value
New York–(continued)
New York (State of) Thruway Authority;
      
 
 
Series 2019 B, RB
 4.00%
01/01/2050
 
$5,400
$5,327,836
Series 2019 B, RB (INS - AGM)(f)(i)(l)
 4.00%
01/01/2050
 
2,625
2,602,498
New York (State of) Thruway Authority (Group 3); Series 2021 A-1, Ref. RB
 4.00%
03/15/2046
 
2,485
2,486,923
New York Counties Tobacco Trust IV;
      
 
 
Series 2005 A, RB
 5.00%
06/01/2045
 
285
261,705
Series 2010 A, RB(e)
 6.25%
06/01/2041
 
1,200
1,200,123
New York Counties Tobacco Trust VI; Series 2016 A-1, Ref. RB
 5.75%
06/01/2043
 
3,170
3,220,673
New York Liberty Development Corp. (3 World Trade Center); Series 2014, Class 1, Ref. RB(e)
 5.00%
11/15/2044
 
5,735
5,738,159
New York State Urban Development Corp. (Bidding Group 3); Series 2021 A, Ref. RB
 4.00%
03/15/2045
 
3,350
3,364,325
New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International
Airport);
      
 
 
Series 2016, Ref. RB(j)
 5.00%
08/01/2026
 
685
686,148
Series 2016, Ref. RB(j)
 5.00%
08/01/2031
 
1,440
1,441,811
Series 2020, Ref. RB(j)
 5.25%
08/01/2031
 
465
487,702
Series 2020, Ref. RB(j)
 5.38%
08/01/2036
 
940
991,637
New York Transportation Development Corp. (Delta Air Lines, Inc. LaGuardia Airport Terminals C&D
Redevelopment);
      
 
 
Series 2018, RB(j)
 5.00%
01/01/2033
 
2,100
2,167,032
Series 2018, RB(j)
 5.00%
01/01/2034
 
2,320
2,390,910
Series 2018, RB(j)
 5.00%
01/01/2036
 
1,860
1,911,450
Series 2020, RB(j)
 5.00%
10/01/2040
 
2,005
2,085,779
Series 2020, RB(j)
 4.38%
10/01/2045
 
1,175
1,145,346
New York Transportation Development Corp. (John F. Kennedy International Airport New Terminal
One) (Green Bonds);
      
 
 
Series 2023, RB(j)
 5.38%
06/30/2060
 
2,115
2,213,167
Series 2024, RB (INS - AGM)(f)(j)
 5.25%
06/30/2060
 
1,800
1,913,576
Series 2024, RB(j)
 5.50%
06/30/2060
 
1,645
1,758,530
New York Transportation Development Corp. (LaGuardia Airport Terminal B Redevelopment);
      
 
 
Series 2016 A, RB(j)
 5.00%
07/01/2046
 
3,235
3,235,057
Series 2016 A, RB(j)
 5.25%
01/01/2050
 
1,775
1,775,132
New York Transportation Development Corp. (Terminal 4 JFK International Airport); Series 2022,
RB(j)
 5.00%
12/01/2038
 
1,870
1,993,151
New York Transportation Development Corp. (Terminal 4 JFK International Airport) (Green Bonds);
Series 2024, Ref. RB(j)
 5.50%
12/31/2054
 
1,715
1,859,947
Rockland Tobacco Asset Securitization Corp.; Series 2001, RB
 5.75%
08/15/2043
 
1,735
1,758,842
Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels);
      
 
 
Series 2020 A, RB
 5.00%
11/15/2054
 
750
793,441
Series 2021 A, RB
 5.00%
11/15/2056
 
1,135
1,204,277
Series 2022, RB(i)
 5.00%
05/15/2051
 
5,475
5,863,581
TSASC, Inc.; Series 2016 B, Ref. RB
 5.00%
06/01/2045
 
2,125
1,997,830
 
 
 
 
123,749,734
North Carolina–0.19%
North Carolina (State of) Turnpike Authority (Triangle Expressway System); Series 2024, RB (INS -
AGM)(f)(h)
 0.00%
01/01/2051
 
3,910
1,141,221
North Dakota–0.34%
Ward (County of), ND (Trinity Obligated Group);
      
 
 
Series 2017 C, RB
 5.00%
06/01/2048
 
1,175
1,179,236
Series 2017 C, RB
 5.00%
06/01/2053
 
910
910,340
 
 
 
 
2,089,576
Ohio–5.19%
Akron, Bath & Copley Joint Township Hospital District (Summa Health Obligated Group); Series 2016,
Ref. RB
 5.25%
11/15/2046
 
2,645
2,681,348
Buckeye Tobacco Settlement Financing Authority;
      
 
 
Series 2020 A-2, Ref. RB
 4.00%
06/01/2048
 
4,115
3,746,072
Series 2020 B-2, Ref. RB
 5.00%
06/01/2055
 
8,740
8,015,078
Cleveland (City of) & Cuyahoga (County of), OH Port Authority (Constellation Schools); Series 2014
A, Ref. RB(e)
 6.50%
01/01/2034
 
1,100
1,100,951
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Trust
 
Interest
Rate
Maturity
Date
Principal
Amount
(000)
Value
Ohio–(continued)
Cleveland (City of), OH (Continental Airlines, Inc.); Series 1998, RB(j)
 5.38%
09/15/2027
 
$805
$805,463
Columbus (City of) & Franklin (County of), OH Finance Authority (Easton); Series 2020, RB(e)
 5.00%
06/01/2028
 
565
571,768
Cuyahoga (County of), OH (MetroHealth System);
      
 
 
Series 2017, Ref. RB
 5.25%
02/15/2047
 
1,140
1,163,097
Series 2017, Ref. RB
 5.50%
02/15/2052
 
845
864,468
Franklin (County of), OH (Nationwide Children’s Hospital); Series 2019, RB
 5.00%
11/01/2048
 
1,360
1,572,351
Hamilton (County of), OH (Cincinnati Children’s Hospital); Series 2019 CC, RB
 5.00%
11/15/2049
 
1,645
1,904,629
Hamilton (County of), OH (Life Enriching Communities); Series 2016, Ref. RB
 5.00%
01/01/2046
 
1,490
1,490,868
Montgomery (County of), OH (Trousdale Foundation Properties); Series 2018 A, RB (Acquired
08/29/2018; Cost $1,110,326)(c)(d)(e)
 6.00%
04/01/2038
 
1,133
79,290
Muskingum (County of), OH (Genesis Healthcare System); Series 2013, RB
 5.00%
02/15/2044
 
920
920,019
Ohio (State of) (University Hospitals Health System, Inc.); Series 2020 A, Ref. RB
 4.00%
01/15/2050
 
2,515
2,458,008
Ohio (State of) Housing Finance Agency (Covenant House Apartments); Series 2008 C, RB (CEP -
GNMA)(j)
 5.85%
09/20/2028
 
235
235,189
Ohio (State of) Housing Finance Agency (Social Bonds); Series 2024, RB (CEP - GNMA)
 7.00%
03/01/2049
 
1,000
1,210,071
Ohio (State of) Municipal Electric Generation Agency (Joint Venture 5); Series 2001, Beneficial
Interest Ctfs. (INS - NATL)(f)(h)
 0.00%
02/15/2030
 
1,000
831,031
Ohio State University (The);
      
 
 
Series 2010 D, RB(g)
 5.00%
12/01/2030
 
45
50,398
Series 2010 D, RB
 5.00%
12/01/2030
 
955
1,080,255
Series 2024, RB
 5.25%
12/01/2054
 
855
952,059
 
 
 
 
31,732,413
Oklahoma–1.15%
Oklahoma (State of) Development Finance Authority (OU Medicine); Series 2018 B, RB
 5.50%
08/15/2052
 
3,780
3,895,911
Oklahoma (State of) Turnpike Authority; Series 2023, RB
 5.50%
01/01/2053
 
1,155
1,287,256
Oklahoma (State of) Water Resources Board (2019 Master Trust); Series 2023, RB
 4.13%
04/01/2053
 
895
899,996
Tulsa (City of), OK Airports Improvement Trust;
      
 
 
Series 2000 A, Ref. RB(j)
 5.50%
06/01/2035
 
330
330,598
Series 2001 C, Ref. RB(j)
 5.50%
12/01/2035
 
620
621,107
 
 
 
 
7,034,868
Ontario–0.14%
Affordable Housing Tax-Exempt Bond Pass-Thru Trust; Series 2023-1, RB(e)
 6.00%
10/05/2040
 
819
864,609
Oregon–1.20%
Clackamas (County of), OR Hospital Facility Authority (Rose Villa); Series 2020 A, Ref. RB
 5.38%
11/15/2055
 
500
502,216
Oregon (State of); Series 2019, GO Bonds(i)(l)
 5.00%
08/01/2044
 
3,350
3,580,077
Portland (Port of), OR (Green Bonds); Twenty Ninth Series 2023, RB(j)
 5.50%
07/01/2053
 
1,425
1,562,834
Portland (Port of), OR (Portland International Airport); Series 2022 28, RB(j)
 5.00%
07/01/2052
 
1,605
1,683,548
 
 
 
 
7,328,675
Pennsylvania–5.46%
Allegheny (County of), PA Airport Authority (Pittsburgh Airport); Series 2023 A, RB (INS - AGM)(f)(j)
 5.50%
01/01/2048
 
1,340
1,473,054
Allegheny (County of), PA Hospital Development Authority (Allegheny Health Network Obligated
Group Issue); Series 2018 A, Ref. RB
 4.00%
04/01/2044
 
2,905
2,815,849
Coatesville School District; Series 2020 A, GO Bonds (INS - BAM)(f)(h)
 0.00%
10/01/2036
 
650
396,791
Franklin (County of), PA Industrial Development Authority (Menno-Haven, Inc.); Series 2018, Ref. RB
 5.00%
12/01/2024
 
500
500,000
Lancaster (County of), PA Hospital Authority (Penn State Health);
      
 
 
Series 2021, RB
 5.00%
11/01/2046
 
515
539,087
Series 2021, RB
 5.00%
11/01/2051
 
685
709,716
Pennsylvania (Commonwealth of) Economic Development Financing Authority (Penndot Major
Bridges (The)); Series 2022, RB(j)
 5.50%
06/30/2038
 
1,885
2,083,011
Pennsylvania (Commonwealth of) Economic Development Financing Authority (Penndot Major
Bridges);
      
 
 
Series 2022, RB(j)
 5.25%
06/30/2053
 
2,015
2,101,101
Series 2022, RB (INS - AGM)(f)(j)
 5.00%
12/31/2057
 
1,010
1,050,083
Pennsylvania (Commonwealth of) Economic Development Financing Authority (UPMC);
      
 
 
Series 2021 A, Ref. RB
 4.00%
10/15/2039
 
660
663,876
Series 2023 A-2, RB
 4.00%
05/15/2048
 
545
542,195
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Trust
 
Interest
Rate
Maturity
Date
Principal
Amount
(000)
Value
Pennsylvania–(continued)
Pennsylvania (Commonwealth of) Turnpike Commission;
      
 
 
Series 2014 A, RB
 4.75%
12/01/2037
 
$990
$1,012,727
Series 2014 A-2, RB
 5.13%
12/01/2039
 
2,000
2,156,586
Series 2019 A, RB
 5.00%
12/01/2049
 
220
233,405
Series 2020 B, RB
 5.00%
12/01/2050
 
595
635,837
Series 2021 A, RB
 4.00%
12/01/2050
 
1,250
1,219,804
Series 2024 C, RB
 5.25%
12/01/2054
 
2,600
2,897,433
Philadelphia (City of), PA;
      
 
 
Series 2017 B, Ref. RB(j)
 5.00%
07/01/2042
 
5,295
5,395,172
Series 2017 B, Ref. RB(j)
 5.00%
07/01/2047
 
525
532,928
Series 2021, Ref. RB (INS - AGM)(f)(j)
 4.00%
07/01/2041
 
1,230
1,227,786
Philadelphia (City of), PA Authority for Industrial Development (Children’s Hospital of Philadelphia);
Series 2024, RB
 5.50%
07/01/2053
 
2,570
2,916,213
Philadelphia (City of), PA Authority for Industrial Development (St. Joseph’s University);
Series 2022, RB
 5.50%
11/01/2060
 
1,670
1,830,148
Philadelphia (City of), PA Authority for Industrial Development (String Theory Charter School);
Series 2020, Ref. RB(e)
 5.00%
06/15/2050
 
400
401,210
 
 
 
 
33,334,012
Puerto Rico–5.20%
Children’s Trust Fund;
      
 
 
Series 2002, RB
 5.50%
05/15/2039
 
2,515
2,528,362
Series 2002, RB
 5.63%
05/15/2043
 
1,490
1,507,873
Series 2005 A, RB(h)
 0.00%
05/15/2050
 
5,915
1,161,085
Series 2005 B, RB(h)
 0.00%
05/15/2055
 
2,540
290,449
Series 2008 A, RB(h)
 0.00%
05/15/2057
 
18,995
1,272,048
Series 2008 B, RB(h)
 0.00%
05/15/2057
 
37,695
2,318,555
Puerto Rico (Commonwealth of);
      
 
 
Series 2021 A-1, GO Bonds
 5.63%
07/01/2027
 
1,170
1,224,553
Series 2021 A-1, GO Bonds
 4.00%
07/01/2035
 
1,260
1,247,098
Series 2021 A-1, GO Bonds
 4.00%
07/01/2037
 
980
962,660
Subseries 2022, RN(h)
 0.00%
11/01/2043
 
700
433,213
Subseries 2022, RN(h)
 0.00%
11/01/2051
 
1,321
843,725
Puerto Rico (Commonwealth of) Electric Power Authority;
      
 
 
Series 2007 VV, Ref. RB (INS - NATL)(f)
 5.25%
07/01/2032
 
1,840
1,838,895
Series 2007 VV, Ref. RB (INS - NATL)(f)
 5.25%
07/01/2033
 
735
734,408
Series 2007 VV, Ref. RB (INS - NATL)(f)
 5.25%
07/01/2035
 
645
643,931
Puerto Rico Sales Tax Financing Corp.;
      
 
 
Series 2018 A-1, RB(h)
 0.00%
07/01/2027
 
450
408,942
Series 2018 A-1, RB(h)
 0.00%
07/01/2029
 
1,495
1,258,203
Series 2018 A-1, RB(h)
 0.00%
07/01/2033
 
2,458
1,755,556
Series 2018 A-1, RB(h)
 0.00%
07/01/2046
 
8,305
2,813,609
Series 2018 A-1, RB(h)
 0.00%
07/01/2051
 
10,905
2,708,581
Series 2018 A-1, RB
 4.75%
07/01/2053
 
1,805
1,806,708
Series 2018 A-1, RB
 5.00%
07/01/2058
 
1,955
1,963,825
Series 2019 A-2, RB
 4.33%
07/01/2040
 
1,230
1,230,011
Series 2019 A-2, RB
 4.78%
07/01/2058
 
825
826,693
 
 
 
 
31,778,983
Rhode Island–0.36%
Tobacco Settlement Financing Corp.; Series 2015 B, Ref. RB
 5.00%
06/01/2050
 
2,185
2,189,455
South Carolina–1.51%
Patriots Energy Group Financing Agency; Series 2023 A-1, RB(b)
 5.25%
08/01/2031
 
1,940
2,120,538
South Carolina (State of) Jobs-Economic Development Authority (Novant Health Obligated Group);
      
 
 
Series 2024, RB
 5.50%
11/01/2050
 
495
557,187
Series 2024, RB
 5.50%
11/01/2054
 
825
923,323
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Trust
 
Interest
Rate
Maturity
Date
Principal
Amount
(000)
Value
South Carolina–(continued)
South Carolina (State of) Public Service Authority (Santee Cooper);
      
 
 
Series 2024 B, Ref. RB
 5.00%
12/01/2036
 
$3,500
$3,976,463
Series 2024 B, Ref. RB (INS - AGM)(f)
 5.00%
12/01/2040
 
1,460
1,636,288
 
 
 
 
9,213,799
South Dakota–0.88%
South Dakota (State of) Health & Educational Facilities Authority (Avera Health); Series 2017, Ref. RB
 5.00%
07/01/2046
 
2,040
2,081,094
South Dakota (State of) Health & Educational Facilities Authority (Sanford Obligated Group);
Series 2014 B, RB
 5.00%
11/01/2044
 
2,185
2,186,760
South Dakota (State of) Housing Development Authority; Series 2023 G, RB (CEP - GNMA)
 4.90%
11/01/2043
 
1,055
1,094,384
 
 
 
 
5,362,238
Tennessee–3.80%
Chattanooga (City of), TN Health, Educational & Housing Facility Board (CommonSpirit Health);
Series 2019 A-2, Ref. RB
 5.00%
08/01/2049
 
1,260
1,304,985
Chattanooga (City of), TN Health, Educational & Housing Facility Board (Erlanger Health System);
Series 2024, Ref. RB
 5.25%
12/01/2054
 
1,075
1,169,135
Greeneville (Town of), TN Health & Educational Facilities Board (Ballad Health Obligated Group);
Series 2018 A, Ref. RB
 5.00%
07/01/2037
 
1,800
1,881,671
Kingsport (City of), TN; Series 2023, GO Bonds
 4.13%
03/01/2053
 
2,035
2,050,028
Knox (County of) & Knoxville (City of), TN City Sports Authority; Series 2024, RB(i)
 6.00%
12/01/2054
 
6,825
7,870,297
Knoxville (City of), TN; Series 2022 OO, RB
 4.00%
07/01/2052
 
3,225
3,215,366
Memphis (City of) & Shelby (County of), TN Airport Authority; Series 2018, RB(j)
 5.00%
07/01/2043
 
1,305
1,333,233
Metropolitan Nashville Airport Authority (The); Series 2019 B, RB(j)
 5.00%
07/01/2054
 
940
967,612
Nashville (City of) & Davidson (County of), TN Metropolitan Government Health & Educational Facilities
Board (The) (Lipscomb University); Series 2019 A, Ref. RB
 5.00%
10/01/2034
 
715
750,077
Tennessee Energy Acquisition Corp.; Series 2021 A, RB(b)
 5.00%
11/01/2031
 
2,510
2,699,788
 
 
 
 
23,242,192
Texas–12.53%
Austin (City of), TX; Series 2022, RB(j)
 5.25%
11/15/2047
 
1,180
1,271,834
Central Texas Regional Mobility Authority; Series 2020 A, Ref. RB
 5.00%
01/01/2049
 
980
1,021,657
Clifton Higher Education Finance Corp. (Idea Public Schools); Series 2021 T, RB (CEP - Texas
Permanent School Fund)
 4.00%
08/15/2050
 
1,360
1,330,492
Clifton Higher Education Finance Corp. (International Leadership of Texas); Series 2018 D, RB
 5.75%
08/15/2033
 
1,675
1,700,496
Crowley Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)
 4.25%
02/01/2053
 
1,650
1,675,957
Denton (County of), TX; Series 2023, Ref. GO Bonds
 4.00%
07/15/2048
 
4,250
4,259,768
El Paso (City of), TX; Series 2022 A, RB
 4.00%
03/01/2048
 
3,065
3,029,764
Greater Texoma Utility Authority (City of Sherman);
      
 
 
Series 2023 A, RB (INS - BAM)(f)
 4.38%
10/01/2053
 
1,340
1,357,541
Series 2023, RB (INS - AGM)(f)
 4.25%
10/01/2053
 
1,430
1,436,887
Harris (County of), TX Toll Road Authority (The); Series 2021, Ref. RB
 4.00%
08/15/2050
 
1,295
1,288,069
Houston (City of), TX; Series 2023 A, Ref. RB (INS - AGM)(f)(j)
 5.25%
07/01/2048
 
1,725
1,854,749
Houston (City of), TX Airport System (United Airlines, Inc. Terminal E); Series 2021 A, RB(j)
 4.00%
07/01/2041
 
585
558,974
Houston (City of), TX Airport System (United Airlines, Inc.);
      
 
 
Series 2018, RB(j)
 5.00%
07/15/2028
 
495
510,876
Series 2024 B, RB(j)
 5.50%
07/15/2039
 
430
464,514
Jarrell Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)
 4.25%
02/15/2053
 
1,360
1,381,019
Lamar Consolidated Independent School District; Series 2023, GO Bonds
 4.00%
02/15/2053
 
1,860
1,832,017
Lockhart Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)
 4.13%
08/01/2053
 
1,250
1,258,134
Lower Colorado River Authority (LCRA Transmission Services Corp.); Series 2022, Ref. RB
 5.50%
05/15/2047
 
1,170
1,296,976
Mission Economic Development Corp. (Natgasoline); Series 2018, Ref. RB(e)(j)
 4.63%
10/01/2031
 
3,085
3,094,754
New Hope Cultural Education Facilities Finance Corp. (4-K Housing, Inc.-Stoney Brook); Series 2017
B, RB(c)
 5.00%
07/01/2052
 
1,500
630,000
New Hope Cultural Education Facilities Finance Corp. (Buckingham Senior Living Community);
      
 
 
Series 2021 A-1, RB
 7.50%
11/15/2037
 
60
48,775
Series 2021, RB
 2.00%
11/15/2061
 
1,644
607,714
New Hope Cultural Education Facilities Finance Corp. (Carillon Lifecare Community);
      
 
 
Series 2016, Ref. RB
 5.00%
07/01/2036
 
650
643,780
Series 2016, Ref. RB
 5.00%
07/01/2046
 
800
736,516
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Trust
 
Interest
Rate
Maturity
Date
Principal
Amount
(000)
Value
Texas–(continued)
New Hope Cultural Education Facilities Finance Corp. (CHF-Collegiate Housing College Station I, LLC -
Texas A&M University); Series 2014 A, RB (INS - AGM)(f)
 5.00%
04/01/2046
 
$520
$520,086
New Hope Cultural Education Facilities Finance Corp. (Children’s Health System of Texas);
Series 2017 A, Ref. RB
 5.00%
08/15/2047
 
1,440
1,470,442
New Hope Cultural Education Facilities Finance Corp. (Jubilee Academic Center); Series 2021, Ref.
RB(e)
 4.00%
08/15/2051
 
1,010
867,292
New Hope Cultural Education Facilities Finance Corp. (Longhorn Village);
      
 
 
Series 2017, Ref. RB
 5.00%
01/01/2042
 
495
497,405
Series 2017, Ref. RB
 5.00%
01/01/2047
 
620
620,216
New Hope Cultural Education Facilities Finance Corp. (Presbyterian Village North);
      
 
 
Series 2018, Ref. RB
 5.00%
10/01/2031
 
560
561,509
Series 2018, Ref. RB
 5.00%
10/01/2032
 
1,015
1,015,630
Series 2020, RB
 5.25%
10/01/2055
 
2,255
2,105,171
North East Texas Regional Mobility Authority; Series 2016 A, RB
 5.00%
01/01/2041
 
3,065
3,100,408
San Antonio (City of), TX; Series 2023 A, Ref. RB
 5.25%
02/01/2046
 
3,060
3,400,147
Tarrant (County of), TX Hospital District;
      
 
 
Series 2023, GO Bonds
 4.25%
08/15/2048
 
805
816,062
Series 2023, GO Bonds
 4.25%
08/15/2053
 
2,280
2,302,995
Tarrant County Cultural Education Facilities Finance Corp. (Air Force Village Obligated Group);
      
 
 
Series 2016, Ref. RB
 5.00%
05/15/2037
 
2,525
2,534,753
Series 2016, Ref. RB
 5.00%
05/15/2045
 
1,660
1,612,347
Tarrant County Cultural Education Facilities Finance Corp. (C.C. Young Memorial Home);
      
 
 
Series 2007, RB (Acquired 12/19/2007; Cost $286,020)(c)(d)
 5.75%
02/15/2025
 
305
167,750
Series 2017 A, RB (Acquired 12/15/2016; Cost $1,958,240)(c)(d)
 6.38%
02/15/2048
 
1,940
1,067,000
Tarrant County Cultural Education Facilities Finance Corp. (MRC Stevenson Oaks);
      
 
 
Series 2020, Ref. RB
 6.63%
11/15/2041
 
85
83,680
Series 2020, Ref. RB
 6.75%
11/15/2051
 
85
81,727
Series 2020, Ref. RB
 6.88%
11/15/2055
 
85
82,098
Texas (State of) Transportation Commission; Series 2019, RB(h)
 0.00%
08/01/2043
 
3,000
1,248,116
Texas (State of) Water Development Board;
      
 
 
Series 2022, RB(i)
 5.00%
10/15/2047
 
3,345
3,649,246
Series 2023 A, RB
 4.88%
10/15/2048
 
2,430
2,618,092
Texas City Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)
 4.00%
08/15/2053
 
1,430
1,423,828
Texas Municipal Gas Acquisition & Supply Corp. I; Series 2008 D, RB
 6.25%
12/15/2026
 
1,850
1,897,601
Travis County Cultural Education Facilities Finance Corp. (Wayside Schools); Series 2012 A, RB
 5.25%
08/15/2042
 
10
10,003
Waco (City of), TX; Series 2023 A, Ctfs. Of Obligations
 4.00%
02/01/2053
 
2,475
2,450,256
Waller Consolidated Independent School District; Series 2023, GO Bonds (INS - BAM)(f)
 4.00%
02/15/2053
 
3,360
3,243,938
Wylie Independent School District; Series 2024, GO Bonds (CEP - Texas Permanent School Fund)
 5.25%
08/15/2054
 
3,480
3,829,107
 
 
 
 
76,568,168
Utah–1.90%
Black Desert Public Infrastructure District; Series 2021 A, GO Bonds(e)
 4.00%
03/01/2051
 
500
428,151
Military Installation Development Authority; Series 2021 A-2, RB
 4.00%
06/01/2052
 
500
431,114
Salt Lake City (City of), UT;
      
 
 
Series 2021 A, RB(j)
 5.00%
07/01/2046
 
835
873,735
Series 2023 A, RB(j)
 5.50%
07/01/2053
 
2,870
3,156,302
Utah (County of), UT (IHC Health Services, Inc.); Series 2016 B, RB
 4.00%
05/15/2047
 
3,300
3,170,577
Utah (State of) Charter School Finance Authority (Ogden Preparatory Academy); Series 2022 A, Ref.
RB
 4.38%
10/15/2047
 
835
830,389
Utah Housing Corp.; Series 2024 A, RB (CEP - GNMA)
 4.90%
01/01/2049
 
1,520
1,568,579
Utah Telecommunication Open Infrastructure Agency; Series 2022, Ref. RB
 4.38%
06/01/2040
 
1,115
1,153,357
 
 
 
 
11,612,204
Virginia–2.47%
Hampton (City of), VA Roads Transportation Accountability Commission; Series 2022 A, RB
 4.00%
07/01/2052
 
2,895
2,885,795
Isle Wight (County of), VA Economic Development Authority (Riverside Health System); Series 2023,
RB (INS - AGM)(f)
 5.25%
07/01/2048
 
1,305
1,440,109
Peninsula Town Center Community Development Authority; Series 2018, Ref. RB(e)
 5.00%
09/01/2045
 
340
340,138
Roanoke (County of), VA Economic Development Authority; Series 2024, Ref. RB(b)
 5.50%
09/01/2035
 
150
149,447
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Trust
 
Interest
Rate
Maturity
Date
Principal
Amount
(000)
Value
Virginia–(continued)
Virginia (Commonwealth of) Housing Development Authority; Series 2023 F, RB (CEP - Federal
Housing Administration)
 5.25%
11/01/2053
 
$1,140
$1,203,486
Virginia (Commonwealth of) Small Business Financing Authority (95 Express Lanes LLC);
Series 2022, Ref. RB(j)
 5.00%
01/01/2037
 
3,120
3,322,855
Virginia (Commonwealth of) Small Business Financing Authority (I-495 Hot Lanes);
      
 
 
Series 2022, Ref. RB(j)
 5.00%
12/31/2047
 
560
588,715
Series 2022, Ref. RB(j)
 5.00%
12/31/2057
 
1,630
1,699,236
Virginia (Commonwealth of) Small Business Financing Authority (Transform 66 P3);
      
 
 
Series 2017, RB(j)
 5.00%
12/31/2049
 
910
919,822
Series 2017, RB(j)
 5.00%
12/31/2056
 
2,500
2,519,724
 
 
 
 
15,069,327
Washington–2.63%
Kalispel Tribe of Indians; Series 2018 A, RB(e)
 5.25%
01/01/2038
 
1,320
1,363,852
Seattle (City of), WA; Series 2022, Ref. RB
 5.00%
07/01/2052
 
2,435
2,635,687
Tacoma (City of), WA; Series 2023, RB(i)
 4.00%
12/01/2047
 
2,785
2,794,555
Washington (State of) (Bid Group 2); Series 2024 A, GO Bonds
 5.00%
08/01/2044
 
1,875
2,081,922
Washington (State of) Convention Center Public Facilities District; Series 2018, RB
 5.00%
07/01/2048
 
3,480
3,576,601
Washington (State of) Health Care Facilities Authority (Seattle Cancer Care Alliance); Series 2020,
Ref. RB
 5.00%
09/01/2055
 
1,655
1,740,873
Washington (State of) Housing Finance Commission (Bayview Manor Homes);
      
 
 
Series 2016 A, Ref. RB(e)
 5.00%
07/01/2046
 
435
413,494
Series 2016 A, Ref. RB(e)
 5.00%
07/01/2051
 
360
333,103
Washington (State of) Housing Finance Commission (Social Certificates); Series 2021-1A, Revenue
Ctfs.
 3.50%
12/20/2035
 
1,179
1,107,632
 
 
 
 
16,047,719
West Virginia–0.44%
Monongalia (County of), WV Commission Special District (University Town Centre Economic
Opportunity Development District); Series 2020, Ref. RB(e)
 7.50%
06/01/2043
 
825
888,116
West Virginia (State of) Hospital Finance Authority (West Virginia University Health System Obligated
Group); Series 2023, RB
 4.25%
06/01/2047
 
1,790
1,812,365
 
 
 
 
2,700,481
Wisconsin–4.57%
Wisconsin (State of) Center District;
      
 
 
Series 2020 D, RB (INS - AGM)(f)(h)
 0.00%
12/15/2050
 
6,520
2,066,217
Series 2020, RB(b)(g)(h)
 0.00%
12/15/2030
 
5,715
1,424,542
Series 2020, RB (INS - AGM)(f)(h)
 0.00%
12/15/2060
 
23,740
4,675,854
Series 2022, RB(e)
 5.25%
12/15/2061
 
1,705
1,737,617
Wisconsin (State of) Health & Educational Facilities Authority (Aspirus, Inc. Obligated Group);
Series 2021, RB
 4.00%
08/15/2051
 
2,800
2,682,030
Wisconsin (State of) Health & Educational Facilities Authority (Forensic Science and Protective
Medicine Facility); Series 2024, RB(e)
 5.00%
08/01/2027
 
1,250
1,277,270
Wisconsin (State of) Health & Educational Facilities Authority (Froedtert Health); Series 2022 A, Ref.
RB
 4.00%
04/01/2042
 
2,510
2,484,342
Wisconsin (State of) Health & Educational Facilities Authority (Gundersen Health system);
Series 2021 A, Ref. RB
 3.00%
10/15/2038
 
840
736,649
Wisconsin (State of) Health & Educational Facilities Authority (Medical College of Wisconsin);
Series 2022, Ref. RB
 4.00%
12/01/2051
 
1,540
1,504,985
Wisconsin (State of) Housing & Economic Development Authority; Series 2023 D, RB
 4.95%
11/01/2054
 
1,215
1,256,143
Wisconsin (State of) Public Finance Authority (American Dream at Meadowlands); Series 2017, RB(e)
 6.75%
08/01/2031
 
915
821,212
Wisconsin (State of) Public Finance Authority (Explore Academy);
      
 
 
Series 2020 A, RB(e)
 6.13%
02/01/2050
 
415
402,795
Series 2022 A, RB(e)
 6.13%
02/01/2050
 
450
436,765
Wisconsin (State of) Public Finance Authority (Mallard Creek STEM Academy); Series 2019 A, RB(e)
 5.13%
06/15/2039
 
625
627,227
Wisconsin (State of) Public Finance Authority (Maryland Proton Treatment Center); Series 2018 A-1,
RB(e)
 6.38%
01/01/2048
 
650
292,500
Wisconsin (State of) Public Finance Authority (Prime Healthcare Foundation, Inc.);
      
 
 
Series 2018 A, RB
 5.20%
12/01/2037
 
1,675
1,734,628
Series 2018 A, RB
 5.35%
12/01/2045
 
1,675
1,728,686
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Trust
 
Interest
Rate
Maturity
Date
Principal
Amount
(000)
Value
Wisconsin–(continued)
Wisconsin (State of) Public Finance Authority (Rans-Bridgewater); Series 2024, RB(e)
 5.63%
12/15/2030
 
$1,165
$1,168,069
Wisconsin (State of) Public Finance Authority (Roseman University of Health Sciences); Series 2015,
Ref. RB
 5.75%
04/01/2035
 
875
881,336
 
 
 
 
27,938,867
Wyoming–0.17%
University of Wyoming; Series 2021 C, RB (INS - AGM)(f)
 4.00%
06/01/2044
 
1,065
1,064,897
Total Municipal Obligations (Cost $888,403,360)
909,264,050
 
 
 
Shares
 
Exchange-Traded Funds–0.13%
Invesco Municipal Strategic Income ETF
(Cost $792,662)(q)
      
 
 
15,560
801,651
TOTAL INVESTMENTS IN SECURITIES(r)–148.93% (Cost $889,196,022)
910,065,701
FLOATING RATE NOTE OBLIGATIONS–(11.26)%
Notes with interest and fee rates ranging from 3.40% to 3.42% at 11/30/2024 and
contractual maturities of collateral ranging from 07/01/2026 to 11/15/2055(s)
      
 
 
(68,795,000
)
VARIABLE RATE MUNI TERM PREFERRED SHARES–(39.73)%
(242,740,585
)
OTHER ASSETS LESS LIABILITIES–2.06%
12,520,199
NET ASSETS APPLICABLE TO COMMON SHARES–100.00%
$611,050,315
Investment Abbreviations: 
AGM
– Assured Guaranty Municipal Corp.
AMBAC
– American Municipal Bond Assurance Corp.
BAM
– Build America Mutual Assurance Co.
BHAC
– Berkshire Hathaway Assurance Corp.
CEP
– Credit Enhancement Provider
COP
– Certificates of Participation
Ctfs.
– Certificates
ETF
– Exchange-Traded Fund
FHLMC
– Federal Home Loan Mortgage Corp.
GNMA
– Government National Mortgage Association
GO
– General Obligation
IDR
– Industrial Development Revenue Bonds
INS
– Insurer
LOC
– Letter of Credit
NATL
– National Public Finance Guarantee Corp.
RAC
– Revenue Anticipation Certificates
RB
– Revenue Bonds
Ref.
– Refunding
RN
– Revenue Notes
VRD
– Variable Rate Demand
Wts.
– Warrants
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Trust
Notes to Schedule of Investments: 
(a)
Calculated as a percentage of net assets. Amounts in excess of 100% are due to the Trust’s use of leverage.
(b)
Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put.
(c)
Defaulted security. Currently, the issuer is in default with respect to principal and/or interest payments. The aggregate value of these securities at November 30,
2024 was $3,697,083, which represented less than 1% of the Trust’s Net Assets.
(d)
Restricted security. The aggregate value of these securities at November 30, 2024 was $3,846,445, which represented less than 1% of the Trust’s Net Assets.
(e)
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
November 30, 2024 was $45,147,171, which represented 7.39% of the Trust’s Net Assets.
(f)
Principal and/or interest payments are secured by the bond insurance company listed.
(g)
Advance refunded; secured by an escrow fund of U.S. Government obligations or other highly rated collateral.
(h)
Zero coupon bond issued at a discount.
(i)
Underlying security related to TOB Trusts entered into by the Trust.
(j)
Security subject to the alternative minimum tax.
(k)
Convertible capital appreciation bond. The interest rate shown represents the coupon rate at which the bond will accrue at a specified future date.
(l)
Security is subject to a reimbursement agreement which may require the Trust to pay amounts to a counterparty in the event of a significant decline in the market
value of the security underlying the TOB Trusts. In case of a shortfall, the maximum potential amount of payments the Trust could ultimately be required to make
under the agreement is $16,783,000. However, such shortfall payment would be reduced by the proceeds from the sale of the security underlying the TOB
Trusts.
(m)
Security valued using significant unobservable inputs (Level 3). See Note 1.
(n)
The issuer is paying less than stated interest, but is not in default on principal because scheduled principal payments have not yet begun.
(o)
Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.
(p)
Demand security payable upon demand by the Trust 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 November 30, 2024.
(q)
Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in
which the Trust owns 5% or more of the outstanding voting securities. The table below shows the Trust’s transactions in, and earnings from, its investments in
affiliates for the nine months ended November 30, 2024.
 
 
Value
February 29, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
Realized
Gain
Value
November 30, 2024
Dividend Income
Invesco Municipal Strategic Income ETF
$794,503
$-
$-
$7,148
$-
$801,651
$24,060
 
(r)
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.
 
Entity
Percent
Assured Guaranty Municipal Corp.
5.57
%
 
(s)
Floating rate note obligations related to securities held. The interest and fee rates shown reflect the rates in effect at November 30, 2024. At November 30,
2024, the Trust’s investments with a value of $102,499,429 are held by TOB Trusts and serve as collateral for the $68,795,000 in the floating rate note
obligations outstanding at that date.
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Trust
Notes to Quarterly Schedule of Portfolio Holdings
November 30, 2024
(Unaudited)
NOTE 1—Additional Valuation Information
Generally Accepted Accounting Principles ("GAAP") defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment’s assigned level:
Level 1 – Prices are determined using quoted prices in an active market for identical assets.
Level 2 – Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. When significant events cause market movements to occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.
Level 3 – Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect Invesco Advisers, Inc.’s assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.
The following is a summary of the tiered valuation input levels, as of November 30, 2024. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments. 
 
Level 1
Level 2
Level 3
Total
Investments in Securities
Municipal Obligations
$—
$908,651,545
$612,505
$909,264,050
Exchange-Traded Funds
801,651
—
—
801,651
Total Investments in Securities
801,651
908,651,545
612,505
910,065,701
Other Investments - Assets
Investments Matured
—
279,725
—
279,725
Total Investments
$801,651
$908,931,270
$612,505
$910,345,426
Invesco Municipal Trust
Invesco Municipal (NYSE:VKQ)
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