Schedule of Investments
May 31, 2022
(Unaudited)
| | | | | | | | | | | | | | |
| | | Interest
Rate | | | Maturity
Date | | | Principal
Amount
(000) | | | Value |
Municipal Obligations–95.27% | | | | | | | | | | | | | | |
New Jersey–80.98% | | | | | | | | | | | | | | |
Atlantic City (City of), NJ; Series 2017 A, Ref. GO Bonds (INS - BAM)(a) | | | 5.00% | | | | 03/01/2042 | | | $ | 1,250 | | | $ 1,355,844 |
Casino Reinvestment Development Authority, Inc.; | | | | | | | | | | | | | | |
Series 2004, RB (INS - AMBAC)(a) | | | 5.25% | | | | 01/01/2024 | | | | 1,665 | | | 1,668,977 |
Series 2004, RB (INS - AMBAC)(a) | | | 5.00% | | | | 01/01/2025 | | | | 220 | | | 220,445 |
Series 2014, Ref. RB (INS - AGM)(a) | | | 5.00% | | | | 11/01/2028 | | | | 1,000 | | | 1,053,771 |
Series 2014, Ref. RB (INS - AGM)(a) | | | 5.00% | | | | 11/01/2031 | | | | 2,000 | | | 2,099,159 |
Series 2014, Ref. RB | | | 5.25% | | | | 11/01/2039 | | | | 3,000 | | | 3,129,743 |
Series 2014, Ref. RB | | | 5.25% | | | | 11/01/2044 | | | | 3,000 | | | 3,124,166 |
Essex (County of), NJ Improvement Authority; Series 1999, RB (INS - AMBAC)(a) | | | 5.13% | | | | 04/01/2029 | | | | 90 | | | 90,054 |
Essex (County of), NJ Improvement Authority (559 Broad/Hazelwood); Series 2020 A, RB(b) | | | 4.00% | | | | 08/01/2060 | | | | 1,500 | | | 1,324,884 |
Essex (County of), NJ Improvement Authority (CHF-Newark LLC-NJIT Student Housing); | | | | | | | | | | | | | | |
Series 2021 A, RB (INS - BAM)(a) | | | 4.00% | | | | 08/01/2051 | | | | 750 | | | 744,364 |
Series 2021 A, RB (INS - BAM)(a) | | | 4.00% | | | | 08/01/2056 | | | | 750 | | | 742,133 |
Series 2021 A, RB (INS - BAM)(a) | | | 4.00% | | | | 08/01/2060 | | | | 1,000 | | | 988,984 |
Garden State Preservation Trust; | | | | | | | | | | | | | | |
Series 2003 B, RB (INS - AGM)(a)(c) | | | 0.00% | | | | 11/01/2026 | | | | 140 | | | 123,163 |
Series 2005 A, RB (INS - AGM)(a) | | | 5.75% | | | | 11/01/2028 | | | | 460 | | | 527,617 |
Jersey City (City of), NJ Redevelopment Agency (Bayfront Redevelopment); Series 2022, RB | | | 4.00% | | | | 12/15/2031 | | | | 2,000 | | | 2,155,670 |
Lavallette School District; Series 2005, GO Bonds (INS - SGI)(a) | | | 4.20% | | | | 02/01/2025 | | | | 10 | | | 10,023 |
Middlesex (County of), NJ Improvement Authority; Series 2000, RB (INS - AMBAC)(a)(d) | | | 5.50% | | | | 09/01/2030 | | | | 20 | | | 20,049 |
New Brunswick (City of), NJ Parking Authority; | | | | | | | | | | | | | | |
Series 2012, Ref. RB | | | 5.00% | | | | 09/01/2027 | | | | 445 | | | 447,877 |
Series 2012, Ref. RB | | | 5.00% | | | | 09/01/2029 | | | | 605 | | | 608,654 |
New Jersey (State of); | | | | | | | | | | | | | | |
Series 2017 XF0553, GO Bonds(e) | | | 5.00% | | | | 06/01/2028 | | | | 5,000 | | | 5,552,669 |
Series 2020 A, GO Bonds | | | 4.00% | | | | 06/01/2031 | | | | 4,000 | | | 4,318,500 |
New Jersey (State of) Building Authority; | | | | | | | | | | | | | | |
Series 2016 A, Ref. RB(f)(g) | | | 5.00% | | | | 06/15/2026 | | | | 300 | | | 331,570 |
Series 2016 A, Ref. RB (INS - BAM)(a) | | | 5.00% | | | | 06/15/2028 | | | | 600 | | | 650,267 |
New Jersey (State of) Economic Development Authority; | | | | | | | | | | | | | | |
Series 1998 B, RB(d) | | | 6.50% | | | | 04/01/2031 | | | | 90 | | | 94,006 |
Series 1999 A, RB | | | 6.25% | | | | 07/01/2024 | | | | 15 | | | 15,041 |
Series 2005 N-1, Ref. RB (INS - NATL)(a) | | | 5.50% | | | | 09/01/2023 | | | | 100 | | | 104,273 |
Series 2012 A, RB(d) | | | 5.00% | | | | 06/15/2037 | | | | 1,515 | | | 1,516,950 |
Series 2012 A, RB(d) | | | 5.13% | | | | 06/15/2043 | | | | 1,250 | | | 1,251,524 |
Series 2012, Ref. RB(f)(g) | | | 5.00% | | | | 06/15/2022 | | | | 900 | | | 901,258 |
Series 2012, Ref. RB(f)(g) | | | 5.00% | | | | 06/15/2022 | | | | 2,095 | | | 2,097,928 |
Series 2013 NN, Ref. RB(f)(g) | | | 5.00% | | | | 03/01/2023 | | | | 700 | | | 718,164 |
Series 2013, RB | | | 6.00% | | | | 10/01/2043 | | | | 3,200 | | | 3,305,682 |
Series 2014 A, RB(b) | | | 6.00% | | | | 10/01/2034 | | | | 515 | | | 530,035 |
Series 2014, RB | | | 5.25% | | | | 01/01/2044 | | | | 5,500 | | | 5,273,643 |
Series 2015 WW, RB | | | 5.00% | | | | 06/15/2035 | | | | 3,000 | | | 3,124,379 |
Series 2015 WW, RB | | | 5.00% | | | | 06/15/2036 | | | | 3,000 | | | 3,122,958 |
Series 2017 A, Ref. RB (INS - BAM)(a) | | | 5.00% | | | | 07/01/2033 | | | | 3,000 | | | 3,236,741 |
Series 2017, RB | | | 5.00% | | | | 07/15/2047 | | | | 1,000 | | | 1,031,618 |
Series 2017, Ref. RB (INS - AGM)(a) | | | 5.00% | | | | 06/01/2042 | | | | 1,000 | | | 1,088,853 |
Series 2018 A, RB(b) | | | 5.38% | | | | 09/01/2033 | | | | 275 | | | 257,852 |
Series 2018 A, RB(b) | | | 5.00% | | | | 10/01/2033 | | | | 1,000 | | | 1,014,011 |
Series 2018 A, RB | | | 5.00% | | | | 07/01/2038 | | | | 350 | | | 363,209 |
Series 2018 A, RB(b) | | | 5.63% | | | | 09/01/2038 | | | | 765 | | | 716,563 |
Series 2018 A, RB(b) | | | 5.25% | | | | 10/01/2038 | | | | 2,500 | | | 2,534,733 |
Series 2018 A, RB(b) | | | 6.25% | | | | 11/01/2038 | | | | 525 | | | 573,532 |
Series 2018 A, RB | | | 5.00% | | | | 06/15/2047 | | | | 3,000 | | | 3,162,028 |
Series 2018 A, RB | | | 5.00% | | | | 12/01/2048 | | | | 3,000 | | | 3,138,607 |
See accompanying notes which are an integral part of this schedule.
Invesco New Jersey Municipal Fund
| | | | | | | | | | | | | | |
| | | Interest
Rate | | | Maturity
Date | | | Principal
Amount
(000) | | | Value |
New Jersey–(continued) | | | | | | | | | | | | | | |
Series 2018 A, RB | | | 5.00% | | | | 07/01/2050 | | | $ | 1,000 | | | $ 1,024,827 |
Series 2018 A, RB(b) | | | 6.50% | | | | 11/01/2052 | | | | 2,500 | | | 2,727,796 |
Series 2018 B, RB(b) | | | 6.00% | | | | 11/01/2022 | | | | 130 | | | 129,960 |
Series 2020, RB | | | 4.00% | | | | 11/01/2038 | | | | 1,000 | | | 1,007,285 |
New Jersey (State of) Economic Development Authority (Black Horse EHT Urban Renewal LLC); Series 2019 A, RB(b) | | | 5.00% | | | | 10/01/2039 | | | | 2,000 | | | 1,764,526 |
New Jersey (State of) Economic Development Authority (Continental Airlines, Inc.); Series 1999, RB(d) | | | 5.25% | | | | 09/15/2029 | | | | 850 | | | 856,076 |
New Jersey (State of) Economic Development Authority (Elite Pharmaceuticals, Inc. - 2005); Series 2005 A, RB(d) | | | 6.50% | | | | 09/01/2030 | | | | 25 | | | 22,554 |
New Jersey (State of) Economic Development Authority (Middlesex Water Co.); Series 2019, RB(d) | | | 4.00% | | | | 08/01/2059 | | | | 4,275 | | | 4,312,830 |
New Jersey (State of) Economic Development Authority (Newark Downtown District Management Corp.); Series 2019, Ref. RB | | | 5.13% | | | | 06/15/2037 | | | | 2,239 | | | 2,491,874 |
New Jersey (State of) Economic Development Authority (Provident Group - Rowan Properties LLC - Rowan University Student Housing); Series 2015 A, RB | | | 5.00% | | | | 01/01/2030 | | | | 50 | | | 50,347 |
New Jersey (State of) Economic Development Authority (Social Bonds); Series 2021, RB | | | 4.00% | | | | 06/15/2050 | | | | 3,100 | | | 3,042,840 |
New Jersey (State of) Economic Development Authority (The Goethals Bridge Replacement); Series 2013, RB(d) | | | 5.38% | | | | 01/01/2043 | | | | 10,650 | | | 10,888,553 |
New Jersey (State of) Educational Facilities Authority (Georgian Court University); | | | | | | | | | | | | | | |
Series 2017 G, Ref. RB | | | 5.00% | | | | 07/01/2030 | | | | 1,395 | | | 1,405,154 |
Series 2017 G, Ref. RB | | | 5.00% | | | | 07/01/2033 | | | | 1,590 | | | 1,579,318 |
Series 2017 G, Ref. RB | | | 5.00% | | | | 07/01/2035 | | | | 1,485 | | | 1,463,072 |
Series 2017 G, Ref. RB | | | 5.00% | | | | 07/01/2036 | | | | 1,640 | | | 1,600,280 |
New Jersey (State of) Educational Facilities Authority (New Jersey City University); Series 2021, Ref. RB (INS - AGM)(a) | | | 4.00% | | | | 07/01/2036 | | | | 765 | | | 789,703 |
New Jersey (State of) Educational Facilities Authority (Princeton University); Series 2022 A, RB | | | 5.00% | | | | 03/01/2032 | | | | 2,500 | | | 3,039,977 |
New Jersey (State of) Educational Facilities Authority (Public Library); Series 2002 A, RB (INS - AMBAC)(a) | | | 5.00% | | | | 09/01/2022 | | | | 5 | | | 5,015 |
New Jersey (State of) Educational Facilities Authority (Rider University); | | | | | | | | | | | | | | |
Series 2017 F, RB | | | 5.00% | | | | 07/01/2035 | | | | 185 | | | 188,396 |
Series 2017 F, RB | | | 5.00% | | | | 07/01/2036 | | | | 400 | | | 406,617 |
Series 2017 F, RB | | | 5.00% | | | | 07/01/2047 | | | | 3,250 | | | 3,251,269 |
New Jersey (State of) Educational Facilities Authority (Stevens Institute of Technology) (Green Bonds); Series 2020 A, RB | | | 5.00% | | | | 07/01/2045 | | | | 3,000 | | | 3,219,276 |
New Jersey (State of) Educational Facilities Authority (William Paterson University of New Jersey (The)); Series 2017 B, RB (INS - AGM)(a) | | | 5.00% | | | | 07/01/2047 | | | | 2,000 | | | 2,169,066 |
New Jersey (State of) Health Care Facilities Financing Authority; | | | | | | | | | | | | | | |
Series 2013, Ref. RB(f)(g) | | | 5.00% | | | | 08/15/2023 | | | | 1,960 | | | 2,036,564 |
Series 2017, Ref. RB | | | 5.00% | | | | 10/01/2038 | | | | 2,000 | | | 2,115,187 |
Series 2021, RB | | | 4.00% | | | | 07/01/2051 | | | | 3,000 | | | 3,024,083 |
New Jersey (State of) Health Care Facilities Financing Authority (Barnabas Health Obligated Group); Series 2014, Ref. RB | | | 5.00% | | | | 07/01/2044 | | | | 3,000 | | | 3,107,352 |
New Jersey (State of) Health Care Facilities Financing Authority (Marlboro Psychiatric Hospital); Series 2013, RB | | | 5.00% | | | | 09/15/2029 | | | | 5,000 | | | 5,126,356 |
New Jersey (State of) Health Care Facilities Financing Authority (University Hospital); Series 2015 A, RB (INS - AGM)(a) | | | 5.00% | | | | 07/01/2046 | | | | 2,000 | | | 2,062,510 |
New Jersey (State of) Higher Education Student Assistance Authority; | | | | | | | | | | | | | | |
Series 2013 1B, RB(d) | | | 4.75% | | | | 12/01/2043 | | | | 2,000 | | | 2,011,202 |
Series 2019 C, Ref. RB(d) | | | 3.63% | | | | 12/01/2049 | | | | 1,000 | | | 889,048 |
Series 2021 C, RB(d) | | | 3.25% | | | | 12/01/2051 | | | | 500 | | | 398,913 |
New Jersey (State of) Housing & Mortgage Finance Agency; | | | | | | | | | | | | | | |
Series 2018 A, Ref. RB | | | 3.95% | | | | 11/01/2043 | | | | 870 | | | 883,080 |
Series 2018 BB, Ref. RB(d) | | | 3.80% | | | | 10/01/2032 | | | | 785 | | | 798,957 |
Series 2019 A, Ref. RB | | | 3.00% | | | | 11/01/2044 | | | | 510 | | | 472,338 |
Series 2019 A, Ref. RB | | | 3.05% | | | | 11/01/2049 | | | | 865 | | | 786,996 |
Series 2020 E, Ref. RB | | | 2.45% | | | | 10/01/2050 | | | | 555 | | | 483,594 |
See accompanying notes which are an integral part of this schedule.
Invesco New Jersey Municipal Fund
| | | | | | | | | | | | | | |
| | | Interest
Rate | | | Maturity
Date | | | Principal
Amount
(000) | | | Value |
New Jersey–(continued) | | | | | | | | | | | | | | |
New Jersey (State of) Transportation Trust Fund Authority; | | | | | | | | | | | | | | |
Series 2008 A, RB (INS - BAM)(a)(c) | | | 0.00% | | | | 12/15/2037 | | | $ | 2,000 | | | $ 1,130,173 |
Series 2008 A, RB(c) | | | 0.00% | | | | 12/15/2038 | | | | 2,000 | | | 1,050,342 |
Series 2010 A, RB (INS - BAM)(a)(c) | | | 0.00% | | | | 12/15/2028 | | | | 1,200 | | | 994,028 |
Series 2012 A, RB(f)(g) | | | 5.00% | | | | 06/15/2022 | | | | 2,360 | | | 2,363,255 |
Series 2013 AA, RB | | | 5.25% | | | | 06/15/2033 | | | | 1,335 | | | 1,362,826 |
Series 2013 AA, RB (INS - BAM)(a) | | | 5.25% | | | | 06/15/2033 | | | | 2,530 | | | 2,585,334 |
Series 2018 A, Ref. RB | | | 4.25% | | | | 12/15/2038 | | | | 7,790 | | | 7,952,391 |
Series 2018 A, Ref. RN | | | 5.00% | | | | 06/15/2031 | | | | 3,540 | | | 3,796,658 |
Series 2019 BB, RB | | | 4.00% | | | | 06/15/2050 | | | | 4,000 | | | 3,926,245 |
Series 2020 AA, RB | | | 4.00% | | | | 06/15/2045 | | | | 2,930 | | | 2,914,770 |
Series 2022, RB | | | 4.00% | | | | 06/15/2046 | | | | 2,000 | | | 1,981,434 |
New Jersey (State of) Turnpike Authority; | | | | | | | | | | | | | | |
Series 2019 A, RB | | | 5.00% | | | | 01/01/2048 | | | | 2,000 | | | 2,205,088 |
Series 2021 A, RB | | | 4.00% | | | | 01/01/2042 | | | | 2,000 | | | 2,063,251 |
Newark (City of), NJ; | | | | | | | | | | | | | | |
Series 2015 A, GO Bonds | | | 5.00% | | | | 07/15/2029 | | | | 3,000 | | | 3,188,224 |
Series 2015 B, GO Bonds (CEP - Oregon School Bond Guaranty) | | | 5.00% | | | | 07/15/2029 | | | | 430 | | | 455,923 |
Series 2020 C, Ref. GO Bonds (INS - AGM)(a) | | | 4.00% | | | | 10/01/2039 | | | | 305 | | | 314,852 |
Newark (City of), NJ Housing Authority; | | | | | | | | | | | | | | |
Series 2007, Ref. RB (INS - NATL)(a) | | | 5.00% | | | | 01/01/2032 | | | | 760 | | | 843,284 |
Series 2017, Ref. RB | | | 4.00% | | | | 01/01/2037 | | | | 1,000 | | | 1,023,167 |
Rutgers The State University of New Jersey; | | | | | | | | | | | | | | |
Series 2013 J, Ref. RB(f)(g) | | | 5.00% | | | | 05/01/2023 | | | | 5,380 | | | 5,549,296 |
Series 2013 L, Ref. RB(f)(g) | | | 5.00% | | | | 05/01/2023 | | | | 4,000 | | | 4,125,871 |
Series 2013 L, Ref. RB(f)(g) | | | 5.00% | | | | 05/01/2023 | | | | 6,330 | | | 6,529,191 |
Salem (County of), NJ Improvement Authority (Finlaw State Office Building); Series 2021, Ref. RB (INS - AGM)(a) | | | 4.00% | | | | 08/15/2048 | | | | 1,905 | | | 1,887,862 |
Salem (County of), NJ Pollution Control Financing Authority (Chambers); Series 2014 A, PCR(d)(f) | | | 5.00% | | | | 12/01/2023 | | | | 950 | | | 973,084 |
South Jersey Port Corp.; Series 2016 S-1, Ref. RB | | | 5.00% | | | | 01/01/2039 | | | | 1,350 | | | 1,408,489 |
South Jersey Transportation Authority; | | | | | | | | | | | | | | |
Series 2014 A, Ref. RB | | | 5.00% | | | | 11/01/2039 | | | | 3,650 | | | 3,747,606 |
Series 2019 A, Ref. RB (INS - AGM)(a) | | | 5.00% | | | | 11/01/2033 | | | | 750 | | | 837,216 |
Series 2020 A, RB | | | 4.00% | | | | 11/01/2050 | | | | 6,000 | | | 5,630,029 |
Tobacco Settlement Financing Corp.; | | | | | | | | | | | | | | |
Series 2018 A, Ref. RB | | | 5.00% | | | | 06/01/2046 | | | | 4,000 | | | 4,244,251 |
Series 2018 A, Ref. RB | | | 5.25% | | | | 06/01/2046 | | | | 1,000 | | | 1,077,111 |
Series 2018 B, Ref. RB | | | 5.00% | | | | 06/01/2046 | | | | 3,400 | | | 3,497,482 |
Union (County of), NJ Improvement Authority; Series 1998 A, RB (INS - NATL)(a)(d) | | | 5.00% | | | | 03/01/2028 | | | | 55 | | | 55,114 |
| | | | | | | | | | | | | | | 221,808,809 |
| | | | |
Puerto Rico–9.31% | | | | | | | | | | | | | | |
Children’s Trust Fund; Series 2002, RB | | | 5.63% | | | | 05/15/2043 | | | | 15,000 | | | 15,273,663 |
Puerto Rico (Commonwealth of); | | | | | | | | | | | | | | |
Series 2021 A, GO Bonds(c) | | | 0.00% | | | | 07/01/2024 | | | | 109 | | | 100,332 |
Series 2021 A, GO Bonds(c) | | | 0.00% | | | | 07/01/2033 | | | | 273 | | | 162,009 |
Series 2021 A-1, GO Bonds | | | 5.25% | | | | 07/01/2023 | | | | 237 | | | 240,074 |
Series 2021 A-1, GO Bonds | | | 5.38% | | | | 07/01/2025 | | | | 236 | | | 248,777 |
Series 2021 A-1, GO Bonds | | | 5.63% | | | | 07/01/2027 | | | | 234 | | | 255,672 |
Series 2021 A-1, GO Bonds | | | 5.63% | | | | 07/01/2029 | | | | 230 | | | 254,830 |
Series 2021 A-1, GO Bonds | | | 5.75% | | | | 07/01/2031 | | | | 224 | | | 253,424 |
Series 2021 A-1, GO Bonds | | | 4.00% | | | | 07/01/2033 | | | | 212 | | | 208,013 |
Series 2021 A-1, GO Bonds | | | 4.00% | | | | 07/01/2035 | | | | 191 | | | 184,424 |
Series 2021 A-1, GO Bonds | | | 4.00% | | | | 07/01/2037 | | | | 164 | | | 158,281 |
Series 2021 A-1, GO Bonds | | | 4.00% | | | | 07/01/2041 | | | | 222 | | | 211,346 |
Series 2021 A-1, GO Bonds | | | 4.00% | | | | 07/01/2046 | | | | 231 | | | 216,476 |
Subseries 2022, RN | | | 0.00% | | | | 11/01/2043 | | | | 1,055 | | | 547,398 |
Subseries 2022, RN | | | 0.00% | | | | 11/01/2051 | | | | 5,797 | | | 2,673,700 |
See accompanying notes which are an integral part of this schedule.
Invesco New Jersey Municipal Fund
| | | | | | | | | | | | | | |
| | | Interest
Rate | | | Maturity
Date | | | Principal
Amount
(000) | | | Value |
Puerto Rico–(continued) | | | | | | | | | | | | | | |
Puerto Rico (Commonwealth of) Electric Power Authority; | | | | | | | | | | | | | | |
Series 2010 AAA, RB (Acquired 04/07/2014; Cost $346,500)(h)(i) | | | 5.25% | | | | 07/01/2031 | | | $ | 550 | | | $ 514,250 |
Series 2010 AAA-RSA-1, RB(h) | | | 5.25% | | | | 07/01/2030 | | | | 500 | | | 467,500 |
Series 2012 A, RB(h) | | | 5.05% | | | | 07/01/2042 | | | | 45 | | | 41,850 |
Series 2016 E-4, RB (Acquired 06/30/2016; Cost $55,033)(h)(i) | | | 10.00% | | | | 07/01/2022 | | | | 55 | | | 55,239 |
Puerto Rico (Commonwealth of) Industrial, Tourist, Educational, Medical & Environmental Control Facilities Financing Authority; Series 2000, RB(d) | | | 6.63% | | | �� | 06/01/2026 | | | | 175 | | | 181,373 |
Puerto Rico Public Finance Corp.; Series 2011 B, RB (Acquired 02/13/2012; Cost $5,318,918)(h)(i) | | | 6.00% | | | | 08/01/2026 | | | | 5,235 | | | 222,487 |
Puerto Rico Sales Tax Financing Corp.; | | | | | | | | | | | | | | |
Series 2018 A-1, RB(c) | | | 0.00% | | | | 07/01/2051 | | | | 5,771 | | | 1,275,123 |
Series 2018 A-1, RB | | | 5.00% | | | | 07/01/2058 | | | | 1,371 | | | 1,397,345 |
Series 2019 A-2, RB | | | 4.54% | | | | 07/01/2053 | | | | 60 | | | 59,044 |
Series 2019 A-2B, RB | | | 4.55% | | | | 07/01/2040 | | | | 304 | | | 307,938 |
| | | | | | | | | | | | | | | 25,510,568 |
| | | | |
New York–3.70% | | | | | | | | | | | | | | |
New York & New Jersey (States of) Port Authority; | | | | | | | | | | | | | | |
Series 2019 220, RB(d) | | | 4.00% | | | | 11/01/2059 | | | | 2,000 | | | 1,989,640 |
Series 2019, RB(d) | | | 5.00% | | | | 11/01/2044 | | | | 1,500 | | | 1,597,647 |
Series 2020, RB(d) | | | 4.00% | | | | 07/15/2039 | | | | 4,250 | | | 4,291,528 |
Series 2021, Ref. RB(d) | | | 4.00% | | | | 07/15/2040 | | | | 1,350 | | | 1,362,240 |
Two Hundred Sixth Series 2017, Ref. RB(d) | | | 5.00% | | | | 11/15/2037 | | | | 850 | | | 900,745 |
| | | | | | | | | | | | | | | 10,141,800 |
| | | | |
Virgin Islands–0.66% | | | | | | | | | | | | | | |
Tobacco Settlement Financing Corp.; | | | | | | | | | | | | | | |
Series 2006, RB(c) | | | 0.00% | | | | 05/15/2035 | | | | 1,100 | | | 480,338 |
Series 2006, RB(c) | | | 0.00% | | | | 05/15/2035 | | | | 3,100 | | | 1,176,406 |
Virgin Islands (Government of) Water & Power Authority (Electric System); | | | | | | | | | | | | | | |
Series 2007 A, RB | | | 5.00% | | | | 07/01/2024 | | | | 50 | | | 49,102 |
Series 2007 A, RB | | | 5.00% | | | | 07/01/2026 | | | | 15 | | | 14,515 |
Series 2007 A, RB | | | 5.00% | | | | 07/01/2027 | | | | 85 | | | 81,854 |
| | | | | | | | | | | | | | | 1,802,215 |
| | | | |
Northern Mariana Islands–0.48% | | | | | | | | | | | | | | |
Northern Mariana Islands (Commonwealth of) Ports Authority; Series 1998 A, RB(d) | | | 6.25% | | | | 03/15/2028 | | | | 1,325 | | | 1,298,671 |
| | | | |
Guam–0.14% | | | | | | | | | | | | | | |
Guam (Territory of) Power Authority; | | | | | | | | | | | | | | |
Series 2012 A, Ref. RB(f) | | | 5.00% | | | | 10/01/2024 | | | | 125 | | | 126,449 |
Series 2012 A, Ref. RB(f) | | | 5.00% | | | | 10/01/2030 | | | | 250 | | | 252,898 |
Guam Housing Corp.; Series 1998 A, RB (CEP - FHLMC)(d) | | | 5.75% | | | | 09/01/2031 | | | | 10 | | | 10,076 |
| | | | | | | | | | | | | | | 389,423 |
TOTAL INVESTMENTS IN SECURITIES(j)–95.27% (Cost $263,723,746) | | | | | | | | | | | | | | 260,951,486 |
FLOATING RATE NOTE OBLIGATIONS–(1.37)% | | | | | | | | | | | | | | |
Note with an interest and fee rate of 0.86% at 05/31/2022 and a
contractual maturity of collateral of 05/01/2038(k) | | | | | | | | | | | | | | (3,755,000) |
OTHER ASSETS LESS LIABILITIES–6.10% | | | | | | | | | | | | | | 16,699,889 |
NET ASSETS–100.00% | | | | | | | | | | | | | | $273,896,375 |
See accompanying notes which are an integral part of this schedule.
Invesco New Jersey Municipal Fund
Investment Abbreviations:
| | |
| AGM | | – Assured Guaranty Municipal Corp. |
| AMBAC | | – American Municipal Bond Assurance Corp. |
| BAM | | – Build America Mutual Assurance Co. |
| CEP | | – Credit Enhancement Provider |
| FHLMC | | – Federal Home Loan Mortgage Corp. |
| GO | | – General Obligation |
| INS | | – Insurer |
| NATL | | – National Public Finance Guarantee Corp. |
| PCR | | – Pollution Control Revenue Bonds |
| RB | | – Revenue Bonds |
| Ref. | | – Refunding |
| RN | | – Revenue Notes |
| SGI | | – Syncora Guarantee, Inc. |
Notes to Schedule of Investments:
| (a) | Principal and/or interest payments are secured by the bond insurance company listed. |
| (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 May 31, 2022 was $11,573,892, which represented 4.23% of the Fund’s Net Assets. |
| (c) | Zero coupon bond issued at a discount. |
| (d) | Security subject to the alternative minimum tax. |
| (e) | Underlying security related to TOB Trusts entered into by the Fund. |
| (f) | Advance refunded; secured by an escrow fund of U.S. Government obligations or other highly rated collateral. |
| (g) | Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put. |
| (h) | Defaulted security. Currently, the issuer is in default with respect to principal and/or interest payments. The aggregate value of these securities at May 31, 2022 was $1,301,326, which represented less than 1% of the Fund’s Net Assets. |
| (i) | Restricted security. The aggregate value of these securities at May 31, 2022 was $791,976, which represented less than 1% of the Fund’s Net Assets. |
| (j) | 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. |
| (k) | Floating rate note obligations related to securities held. The interest and fee rates shown reflect the rates in effect at May 31, 2022. At May 31, 2022, the Fund’s investments with a value of $5,552,669 are held by TOB Trusts and serve as collateral for the $3,755,000 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 New Jersey Municipal Fund
Notes to Quarterly Schedule of Portfolio Holdings
May 31, 2022
(Unaudited)
NOTE 1–Additional Valuation Information
Generally Accepted Accounting Principles (“GAAP”) defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available or are unreliable. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment’s assigned level:
Level 1 – Prices are determined using quoted prices in an active market for identical assets.
Level 2 – Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.
Level 3 – Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the 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.
The following is a summary of the tiered valuation input levels, as of May 31, 2022. 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 | | | $- | | | $ | 260,951,486 | | | | $- | | | $ | 260,951,486 | |
Other Investments - Assets | | | | | | | | | | | | | | | | |
Investments Matured | | | - | | | | 716,013 | | | | - | | | | 716,013 | |
Total Investments | | | $- | | | $ | 261,667,499 | | | | $- | | | $ | 261,667,499 | |
Invesco New Jersey Municipal Fund
