Aim Tax Exempt Funds NPORT-P Invesco AMT-Free Municipal Income Fund (Nov 2022 report)

Schedule of Investments

November 30, 2022

(Unaudited)

	Interest Rate	Maturity Date	Principal Amount (000)		Value
Municipal Obligations–100.98%
Alabama–4.80%
Birmingham (City of) & Jefferson (County of), AL Civic Center Authority; Series 2018 A, RB	5.00%	07/01/2048		$    2,500	$       2,585,168
Birmingham (City of), AL Private Educational Building Authority (Birmingham-Southern College); Series 1996, RB	6.13%	12/01/2025		385	378,975
Birmingham (City of), AL Water Works Board; Series 2016 B, Ref. RB(a)(b)	5.00%	01/01/2027		16,150	17,572,752
Fort Deposit (Town of), AL Cooperative District; Series 2003, RB	6.00%	02/01/2036		175	165,022
Homewood (City of), AL Educational Building Authority (Samford University); Series 2017 A, Ref. RB	5.00%	12/01/2047		4,500	4,594,671
Jefferson (County of), AL;
Series 2013 C, Revenue Wts. (INS - AGM)(c)(d)	6.90%	10/01/2050		8,750	8,923,256
Series 2013 D, Revenue Wts.	6.00%	10/01/2042		8,000	8,558,177
Series 2013 D, Revenue Wts.	7.00%	10/01/2051		4,000	4,306,994
Series 2013 D, Revenue Wts.	6.50%	10/01/2053		7,500	8,043,525
Series 2013 F, Revenue Wts.(c)	7.75%	10/01/2046		20,185	20,580,775
Series 2013 F, Revenue Wts.(c)	7.90%	10/01/2050		20,000	20,382,706
Series 2017, Ref. Revenue Wts.	5.00%	09/15/2035		4,500	4,817,749
Lower Alabama Gas District (The); Series 2016 A, RB	5.00%	09/01/2046		4,000	4,125,032
Mobile (City of), AL Improvement District (McGowin Park); Series 2016 A, RB	5.25%	08/01/2030		200	188,476
Southeast Energy Authority A Cooperative District (No. 3); Series 2022 A-1, RB(b)	5.50%	12/01/2029		4,105	4,365,116
					109,588,394
Alaska–0.00%
Alaska (State of) Industrial Development & Export Authority (Boys & Girls Home & Family Services, Inc.); Series 2007 C, RB(e)	5.88%	12/01/2027		600	1,560
Arizona–1.71%
Arizona (State of) Industrial Development Authority (Academies of Math & Science);
Series 2017 A, Ref. RB	5.00%	07/01/2042		675	684,364
Series 2017 A, Ref. RB	5.00%	07/01/2047		925	932,177
Series 2017 A, Ref. RB	5.00%	07/01/2051		1,000	1,005,260
Series 2018 A, Ref. RB	5.00%	07/01/2038		500	512,356
Series 2018 A, Ref. RB	5.00%	07/01/2048		1,800	1,812,279
Series 2018 A, Ref. RB	5.00%	07/01/2052		2,125	2,135,744
Arizona (State of) Industrial Development Authority (Provident Group - Eastern Michigan University Parking);
Series 2018, RB	5.00%	05/01/2048		1,100	740,195
Series 2018, RB	5.00%	05/01/2051		1,000	659,245
Arizona (State of) Industrial Development Authority (Provident Group-NCCU Properties LLC); Series 2019 A, RB (INS - BAM)(d)	5.00%	06/01/2058		570	598,819
Arizona (State of) Industrial Development Authority (Social Bonds); Series 2020 A, RB	4.00%	11/01/2050		2,100	1,859,350
Festival Ranch Community Facilities District (Assessment Districts Nos. 4 & 5); Series 2007, RB	5.75%	07/01/2032		273	259,483
Maricopa (County of), AZ Industrial Development Authority (GreatHearts Arizona);
Series 2017 C, RB	5.00%	07/01/2037		80	83,103
Series 2017 C, RB	5.00%	07/01/2048		145	148,956
Maricopa (County of), AZ Industrial Development Authority (Legacy Traditional Schools);
Series 2019, Ref. RB(f)	5.00%	07/01/2049		800	728,857
Series 2019, Ref. RB(f)	5.00%	07/01/2054		600	535,570
Merrill Ranch Community Facilities District No. 1 (Assessment Area One); Series 2006, RB	5.30%	07/01/2030		174	173,996
Phoenix (City of), AZ Industrial Development Authority (Espiritu Community Development Corp. Charter School); Series 2006 A, RB	6.25%	07/01/2036		405	380,986
Phoenix (City of), AZ Industrial Development Authority (Great Hearts Academies); Series 2016 A, Ref. RB	5.00%	07/01/2041		1,200	1,208,531
Phoenix Civic Improvement Corp.;
Series 2019 A, RB	4.00%	07/01/2045		2,765	2,477,415
Series 2019, RB	4.00%	07/01/2044		6,855	6,548,985
Series 2019, RB	5.00%	07/01/2049		6,845	7,104,782

See accompanying notes which are an integral part of this schedule.

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate	Maturity Date	Principal Amount (000)		Value
Arizona–(continued)
Pima (County of), AZ Industrial Development Authority (Arizona Charter Schools Ref.); Series 2013 Q, Ref. RB	5.38%	07/01/2031		$    1,715	$       1,684,332
Pima (County of), AZ Industrial Development Authority (Christian Care Tuscon, Inc.);
Series 2017 A, Ref. RB(a)(b)	5.00%	06/15/2025		550	583,366
Series 2017 C, RB(a)(b)	5.00%	06/15/2025		1,010	1,071,273
Pima (County of), AZ Industrial Development Authority (Excalibur Charter School (The)); Series 2016, Ref. RB(f)	5.50%	09/01/2046		900	808,760
Pima (County of), AZ Industrial Development Authority (Paideia Academies (The));
Series 2019, RB	5.13%	07/01/2039		195	181,287
Series 2019, RB	5.25%	07/01/2049		240	213,028
Pima (County of), AZ Industrial Development Authority (Tuscon Country Day School); Series 2007, Ref. RB	5.00%	06/01/2037		760	653,357
Salt Verde Financial Corp.;
Series 2007, RB	5.50%	12/01/2029		100	107,613
Series 2007, RB	5.00%	12/01/2032		3,000	3,150,549
					39,044,018
Arkansas–0.15%
Arkansas (State of) Development Finance Authority (Baptist Memorial Health); Series 2020, Ref. RB	5.00%	09/01/2044		2,000	1,997,236
Cave Springs Municipal Property Owners’ Improvement District No. 3; Series 2007, GO Bonds(g)	6.25%	02/01/2038		1,480	1,480,000
					3,477,236
California–9.73%
Bay Area Toll Authority (San Francisco Bay Area); Series 2019 S-8, Ref. RB(a)(b)	5.00%	10/01/2029		5,000	5,773,669
California (State of);
Series 2016, Ref. GO Bonds	5.00%	09/01/2037		10,085	10,756,516
Series 2018, GO Bonds	5.00%	10/01/2047		13,500	14,114,208
Series 2020, GO Bonds	3.00%	03/01/2046		2,600	2,069,727
Series 2020, GO Bonds	3.00%	03/01/2050		1,500	1,149,235
Series 2021, Ref. GO Bonds	5.00%	10/01/2041		1,500	1,670,174
Series 2022, GO Bonds	4.00%	04/01/2049		1,325	1,331,938
California (State of) Community Choice Financing Authority (Green Bonds); Series 2021 B-1, RB(b)	4.00%	08/01/2031		18,000	17,771,501
California (State of) County Tobacco Securitization Agency; Series 2006 B, RB(h)	0.00%	06/01/2050		129,820	20,698,916
California (State of) County Tobacco Securitization Agency (Alameda County Tobacco Asset Securitization Corp.); Series 2002, RB	5.88%	06/01/2035		25	25,413
California (State of) County Tobacco Securitization Agency (Fresno County Tobacco Funding Corp.);
Series 2006 A, RB(h)	0.00%	06/01/2046		7,000	1,557,741
Series 2006 B, RB(h)	0.00%	06/01/2046		6,000	1,290,034
California (State of) County Tobacco Securitization Agency (Stanislaus County Tobacco Funding Corp.); Series 2002 A, RB	5.88%	06/01/2043		3,100	3,100,009
California (State of) Health Facilities Financing Authority (Commonspirit Health); Series 2020 A, Ref. RB	4.00%	04/01/2049		1,500	1,352,669
California (State of) Health Facilities Financing Authority (Sutter Health);
Series 2016 B, Ref. RB(a)(b)	5.00%	11/15/2026		4,080	4,450,098
Series 2016 B, Ref. RB	5.00%	11/15/2046		5,920	6,039,289
California (State of) Housing Finance Agency;
Series 2019 A-1, RB	4.25%	01/15/2035		166	161,749
Series 2019 A-2, RB	4.00%	03/20/2033		1,908	1,852,609
Series 2021 A, RB	3.25%	08/20/2036		3,644	3,149,450
California (State of) Municipal Finance Authority (CHF-Davis I, LLC - West Village Student Housing); Series 2018, RB (INS - BAM)(d)	5.00%	05/15/2043		4,250	4,422,779
California (State of) Statewide Communities Development Authority (Community Facilities District No. 2007-01); Series 2015, Ref. RB	5.00%	09/01/2030		875	904,895
Cathedral (City of), CA Redevelopment Agency Successor Agency (Merged Redevelopment);
Series 2014 A, Ref. RB (INS - AGM)(d)	5.00%	08/01/2032		1,450	1,503,090
Series 2014 A, Ref. RB (INS - AGM)(d)	5.00%	08/01/2033		885	917,114
Golden State Tobacco Securitization Corp.; Series 2017 A-1, Ref. RB(a)(b)	5.00%	06/01/2027		170	187,303
Inland Empire Tobacco Securitization Corp.; Series 2007 F, RB(f)(h)	0.00%	06/01/2057		345,750	15,893,229
Lammersville Joint Unified School District; Series 2013, RB	6.00%	09/01/2043		2,750	2,783,133

See accompanying notes which are an integral part of this schedule.

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate	Maturity Date	Principal Amount (000)		Value
California–(continued)
Local Public Schools Funding Authority (School Facilities Improvement District No. 2016-1 - Election of 2016); Series 2017 A, GO Bonds (INS - BAM)(d)	4.00%	08/01/2042		$    3,500	$       3,414,720
Long Beach (City of), CA Bond Finance Authority; Series 2007 A, RB	5.50%	11/15/2037		2,000	2,224,551
Los Angeles (City of), CA Department of Airports (Green Bonds); Series 2022 I, RB	5.00%	05/15/2048		3,000	3,279,079
Los Angeles (City of), CA Department of Water & Power; Series 2017 A, RB	5.00%	07/01/2042		5,000	5,280,950
Los Angeles Unified School District;
Series 2018-XF2575, Ctfs. Of Obligation(i)	5.25%	07/01/2042		20,000	21,596,982
Series 2022, GO Bonds	5.25%	07/01/2047		5,000	5,638,802
Lynwood (City of), CA Redevelopment Agency (Project Area A); Series 2011 A, RB(a)(b)	7.00%	12/09/2022		1,250	1,251,077
M-S-R Energy Authority; Series 2009 B, RB	7.00%	11/01/2034		10,000	12,374,138
Oak Grove School District (Election of 2008); Series 2018 E, Ref. GO Bonds(c)	5.00%	08/01/2042		4,500	2,427,588
Oxnard (City of), CA Financing Authority;
Series 2014, Ref. RB (INS - AGM)(d)	5.00%	06/01/2032		1,250	1,288,044
Series 2014, Ref. RB (INS - AGM)(d)	5.00%	06/01/2033		1,500	1,544,985
Series 2014, Ref. RB (INS - AGM)(d)	5.00%	06/01/2034		850	875,744
Paramount Unified School District (Election of 2016); Series 2017 A, GO Bonds (INS - AGM)(d)	5.25%	08/01/2046		2,575	2,752,604
Poway Unified School District Public Financing Authority;
Series 2015 B, Ref. RB (INS - BAM)(d)	5.00%	09/01/2033		1,725	1,818,174
Series 2015 B, Ref. RB (INS - BAM)(d)	5.00%	09/01/2034		3,075	3,228,651
San Diego (County of), CA Regional Airport Authority;
Series 2019 A, Ref. RB	5.00%	07/01/2044		5,000	5,213,156
Series 2021 A, RB (INS - AGM)(d)	5.00%	07/01/2051		15,000	15,681,090
Santa Cruz (County of), CA Redevelopment Successor Agency; Series 2015 A, Ref. RB (INS - AGM)(d)	5.00%	09/01/2035		1,880	1,970,820
Transbay Joint Powers Authority (Green Bonds); Series 2020 A, RB	5.00%	10/01/2049		2,000	2,034,187
Twin Rivers Unified School District; Series 2020, GO Bonds (INS - AGM)(d)(h)	0.00%	08/01/2044		8,990	3,321,087
					222,142,917
Colorado–4.54%
Berthoud-Heritage Metropolitan District No. 1; Series 2019, RB	5.63%	12/01/2048		2,000	1,883,897
BNC Metropolitan District No. 1; Series 2017 A, Ref. GO Bonds (INS - BAM)(d)	5.00%	12/01/2037		550	591,128
Colorado (State of) Educational & Cultural Facilities Authority (Stargate Charter School); Series 2018 A, Ref. RB	5.00%	12/01/2038		1,000	1,049,031
Colorado (State of) Health Facilities Authority (Adventhealth Obligated Group);
Series 2019, Ref. RB	4.00%	11/15/2043		2,000	1,949,252
Series 2021 A, Ref. RB	4.00%	11/15/2050		10,000	9,194,712
Colorado (State of) Health Facilities Authority (Christian Living Neighborhoods); Series 2016, Ref. RB	5.00%	01/01/2031		1,400	1,342,423
Colorado (State of) Health Facilities Authority (CommonSpirit Health);
Series 2019 A-2, Ref. RB	5.00%	08/01/2044		6,515	6,603,006
Series 2022, RB	5.25%	11/01/2052		7,500	7,724,358
Denver (City & County of), CO;
Series 2018 B, Ref. RB	5.00%	12/01/2048		12,500	12,947,537
Series 2022 B, RB	5.00%	11/15/2047		6,250	6,759,803
Series 2022 B, RB	5.25%	11/15/2053		8,000	8,728,077
Series 2022 C, Ref. RB	5.25%	11/15/2053		6,120	6,676,979
E-470 Public Highway Authority; Series 1997 B, RB (INS - NATL)(d)(h)	0.00%	09/01/2025		125	113,920
Ebert Metropolitan District;
Series 2018 A-1, GO Bonds (INS - BAM)(d)	5.00%	12/01/2043		7,000	7,441,741
Series 2018 A-2, GO Bonds (INS - BAM)(d)	5.00%	12/01/2043		1,605	1,704,517
Hunters Overlook Metropolitan District No. 5;
Series 2019 A, GO Bonds	5.00%	12/01/2039		887	832,631
Series 2019 A, GO Bonds	5.00%	12/01/2049		1,360	1,209,470
Hunting Hill Metropolitan District; Series 2018, Ref. GO Bonds	5.63%	12/01/2048		2,075	1,988,233
Powhaton Road Metropolitan District No. 2; Series 2019 A, GO Bonds(a)(b)	5.63%	12/01/2023		710	750,400
Public Authority for Colorado Energy;
Series 2008, RB	6.25%	11/15/2028		1,495	1,599,695
Series 2008, RB	6.50%	11/15/2038		11,740	14,136,817
Rampart Range Metropolitan District No. 1; Series 2017, Ref. RB (INS - AGM)(d)	5.00%	12/01/2047		6,165	6,518,421

See accompanying notes which are an integral part of this schedule.

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate	Maturity Date	Principal Amount (000)		Value
Colorado–(continued)
Tallyn’s Reach Metropolitan District No. 3;
Series 2013, Ref. GO Bonds(a)(b)(f)	5.00%	12/01/2023		$       103	$         105,030
Series 2013, Ref. GO Bonds(a)(b)(f)	5.13%	12/01/2023		250	255,461
Vauxmont Metropolitan District; Series 2020, Ref. GO Bonds (INS - AGM)(d)	5.00%	12/01/2050		1,500	1,536,026
					103,642,565
Connecticut–0.94%
Connecticut (State of); Series 2020 A, RB	4.00%	05/01/2039		1,000	1,000,441
Connecticut (State of) Health & Educational Facilities Authority; Series 2020 G-1, Ref. RB(f)	5.00%	07/01/2050		1,100	999,443
Connecticut (State of) Health & Educational Facilities Authority (Fairfield University); Series 2017 R, Ref. RB	4.00%	07/01/2047		6,125	5,661,925
Connecticut (State of) Health & Educational Facilities Authority (Nuvance Health); Series 2019 A, Ref. RB	4.00%	07/01/2049		12,430	10,581,572
Georgetown (City of), CT Special Taxing District; Series 2006 A, GO Bonds(e)(g)	5.13%	10/01/2036		500	60,000
Hamden (Town of), CT; Series 2018 A, Ref. GO Bonds (INS - BAM)(d)	5.00%	08/15/2030		625	677,139
Mashantucket Western Pequot Tribe; Series 2013, RB(e)	6.05%	07/01/2031		11,260	2,505,364
					21,485,884
District of Columbia–2.45%
District of Columbia;
Series 2006 B-1, RB (INS - NATL)(d)	5.00%	02/01/2031		15	15,022
Series 2020 A, RB	4.00%	03/01/2045		4,335	4,334,890
District of Columbia Tobacco Settlement Financing Corp.;
Series 2001, RB	6.50%	05/15/2033		340	348,842
Series 2001, RB	6.75%	05/15/2040		4,385	4,514,154
Series 2006 B, RB(h)	0.00%	06/15/2046		72,125	13,131,128
Metropolitan Washington Airports Authority (Dulles Metrorail and Capital Improvement); Series 2019 B, Ref. RB	4.00%	10/01/2049		10,000	8,717,301
Washington Metropolitan Area Transit Authority; Series 2020 A, RB	4.00%	07/15/2045		25,600	24,784,044
					55,845,381
Florida–6.59%
Alachua (County of), FL Health Facilities Authority (Shands Teaching Hospital & Clinics); Series 2019, Ref. RB	5.00%	12/01/2037		2,580	2,692,463
Amelia Concourse Community Development District; Series 2007, RB(e)(g)	5.75%	05/01/2038		1,510	1,464,700
Arlington Ridge Community Development District; Series 2006 A, RB	5.50%	05/01/2036		140	140,016
Broward (County of), FL (Convention Center Expansion); Series 2021, RB	4.00%	09/01/2047		17,250	15,681,899
Broward (County of), FL School Board; Series 2022, GO Bonds	5.00%	07/01/2051		10,000	10,931,019
Canaveral Port Authority; Series 2018 B, RB	5.00%	06/01/2048		5,000	5,180,628
Capital Trust Agency, Inc. (Advantage Academy of Hillsborough);
Series 2019 A, RB	5.00%	12/15/2049		455	456,007
Series 2019 A, RB	5.00%	12/15/2054		320	320,040
Capital Trust Agency, Inc. (Florida Charter Educational Foundation, Inc.);
Series 2018 A, RB(f)	5.38%	06/15/2038		255	244,246
Series 2018 A, RB(f)	5.38%	06/15/2048		480	436,965
Chapel Creek Community Development District; Series 2006 A, RB(e)(g)	5.50%	05/01/2038		1,990	1,333,300
Clearwater Cay Community Development District; Series 2006 A, RB(e)(g)	5.50%	05/01/2037		826	470,787
Creekside Community Development District; Series 2006, RB(e)(g)	5.20%	05/01/2038		2,280	1,026,000
East Homestead Community Development District; Series 2013, RB	5.00%	11/01/2033		350	350,125
Greater Orlando Aviation Authority; Series 2015 XF2019, Revenue Ctfs.(i)	5.00%	10/01/2032		9,385	9,399,931
Heritage Isles Community Development District; Series 1999, RB(e)	7.10%	10/01/2023		195	27,300
Highland Meadows Community Development District; Series 2006 A, RB	5.50%	05/01/2036		85	85,010
Indigo Community Development District; Series 2005, RB(e)(g)	5.75%	05/01/2036		375	251,250
Jacksonville (City of), FL (Brooks Rehabilitation); Series 2020, Ref. RB	5.00%	11/01/2050		5,000	5,047,872
Jacksonville (City of), FL Health Facilities Authority; Series 1997 B, RB(a)	5.25%	08/15/2027		20	20,524
Lake (County of), FL (Imagine South Lake Charter School Program); Series 2019, RB(f)	5.00%	01/15/2054		190	166,970
Lake Helen (City of), FL (Ivy Hawn Charter School of the Arts);
Series 2018 A, RB(f)	5.50%	07/15/2048		565	500,352
Series 2018 A, RB(f)	5.75%	07/15/2053		600	558,474
Lakeland (City of), FL (Lakeland Regional Health); Series 2015, RB	5.00%	11/15/2040		3,000	3,024,312

See accompanying notes which are an integral part of this schedule.

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate	Maturity Date	Principal Amount (000)		Value
Florida–(continued)
Lee Memorial Health System; Series 2019 A-1, Ref. RB	4.00%	04/01/2037		$    4,000	$       3,951,384
Lucaya Community Development District; Series 2005, RB	5.38%	05/01/2035		1,090	1,090,294
Magnolia Creek Community Development District; Series 2007 A, RB(e)(g)	5.90%	05/01/2039		195	107,250
Magnolia West Community Development District; Series 2017, RB	5.35%	05/01/2037		75	75,483
Miami-Dade (County of), FL;
Series 2009, RB (INS - BAM)(d)(h)	0.00%	10/01/2042		6,925	2,703,815
Series 2013 A, RB(a)(b)	5.50%	10/01/2023		3,000	3,072,886
Series 2019 B, RB (INS - BAM)(d)	4.00%	10/01/2049		17,745	17,068,248
Series 2021, RB (INS - BAM)(d)	4.00%	10/01/2051		5,000	4,818,843
Subseries 2021 A-2, Ref. RB (INS - AGM)(d)	4.00%	10/01/2049		15,000	13,487,065
Miami-Dade (County of), FL Transit System;
Series 2020 A, RB	4.00%	07/01/2048		12,185	11,352,665
Series 2020 A, RB	4.00%	07/01/2050		5,000	4,644,585
Miromar Lakes Community Development District; Series 2015, Ref. RB	5.00%	05/01/2035		1,195	1,191,097
Naturewalk Community Development District; Series 2007 A, RB(e)(g)	5.50%	05/01/2038		335	120,600
Orlando (City of), FL; Series 2008, RB (INS - AGC)(d)	5.50%	11/01/2038		130	130,211
Orlando (City of), FL Utilities Commission; Series 2018 A, RB	5.00%	10/01/2038		3,000	3,225,828
Osceola (County of), FL; Series 2020 A-1, Ref. RB	5.00%	10/01/2049		2,055	2,058,393
Palace Coral Gables Community Development District;
Series 2011, RB	5.00%	05/01/2032		415	415,471
Series 2011, RB	5.63%	05/01/2042		1,000	1,001,315
Polk (County of), FL Industrial Development Authority (Carpenter’s Home Estates); Series 2019, Ref. IDR	5.00%	01/01/2049		750	667,398
Reunion East Community Development District;
Series 2002 A-2, RB(e)(g)	7.38%	05/01/2033		860	9
Series 2005, RB(e)(g)	5.80%	05/01/2036		810	8
Ridgewood Trails Community Development District; Series 2007 A, RB	5.65%	05/01/2038		15	13,576
South Bay Community Development District;
Series 2005 A, RB(e)(g)	5.95%	05/01/2036		1,645	16
Series 2005 A-1, Ref. RB	5.95%	05/01/2036		1,700	1,672,876
Series 2005 A-2, Ref. RB(e)(g)	6.60%	05/01/2036		1,095	547,500
Series 2005 B-2, Ref. RB(e)(g)	6.60%	05/01/2025		935	467,501
St. Johns (County of), FL Industrial Development Authority (Vicar’s Landing);
Series 2021, Ref. RB	4.00%	12/15/2036		1,000	832,976
Series 2021, Ref. RB	4.00%	12/15/2046		750	557,276
Series 2021, Ref. RB	4.00%	12/15/2050		1,000	720,632
Tampa (City of), FL;
Series 2020 A, RB(h)	0.00%	09/01/2033		210	133,816
Series 2020 A, RB(h)	0.00%	09/01/2034		880	531,593
Series 2020 A, RB(h)	0.00%	09/01/2035		750	429,636
Series 2020 A, RB(h)	0.00%	09/01/2036		850	462,475
Series 2020 A, RB(h)	0.00%	09/01/2037		825	425,984
Series 2020 A, RB(h)	0.00%	09/01/2038		1,050	514,609
Series 2020 A, RB(h)	0.00%	09/01/2039		1,000	463,663
Villages of Avignon Community Development District (The); Series 2007 A, RB(e)(g)	5.40%	05/01/2037		250	12,500
Vista Community Development District; Series 2006 A, RB	5.38%	05/01/2037		3,560	3,560,223
Waterford Estates Community Development District; Series 2006 A, RB	5.50%	05/01/2037		1,665	1,665,806
Waterstone Community Development District;
Series 2007 A, RB(c)(g)	6.88%	05/01/2037		146	92,859
Series 2007 B, RB(g)(h)	0.00%	11/01/2028		928	546,648
West Villages Improvement District;
Series 2005 A-1, RB	5.75%	05/01/2036		3,045	3,046,882
Series 2005 A-2, RB(e)(g)	5.75%	05/01/2036		2,925	1,696,500
Westridge Community Development District; Series 2005, RB	5.80%	05/01/2037		415	415,049
Westside Community Development District; Series 2019 2, RB(e)	5.65%	05/01/2037		525	351,066
Zephyr Ridge Community Development District; Series 2006 A, RB(e)(g)	5.63%	05/01/2037		979	411,038
					150,565,738

See accompanying notes which are an integral part of this schedule.

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate		Maturity Date		Principal Amount (000)		Value
Georgia–2.08%
Atlanta (City of), GA Urban Residential Finance Authority (Trestletree Village Apartments); Series 2013 A, RB		5.00%		11/01/2048		$       565	$          436,768
Floyd (County of), GA Development Authority (The Spires at Berry College);
Series 2018 A, RB		5.75%		12/01/2033		1,155	1,104,257
Series 2018 A, RB		6.00%		12/01/2038		2,260	2,159,431
Series 2018 A, RB		6.25%		12/01/2048		5,565	5,245,580
Series 2018 A, RB		6.50%		12/01/2053		3,205	3,073,420
Fulton (County of), GA Development Authority (Piedmont Healthcare, Inc.);
Series 2016 A, Ref. RB		5.00%		07/01/2046		3,000	3,026,478
Series 2019, RB		4.00%		07/01/2049		11,150	10,240,403
George L Smith II Congress Center Authority (Convention Center Hotel); Series 2021, RB		4.00%		01/01/2054		2,200	1,790,696
Main Street Natural Gas, Inc.;
Series 2019 A, RB		5.00%		05/15/2043		1,040	1,046,646
Series 2022 C, RB(b)(f)		4.00%		11/01/2027		17,000	16,177,472
Oconee (County of), GA Industrial Development Authority (Presbyterian Village Athens);
Series 2018 A-1, RB		6.13%		12/01/2038		880	751,587
Series 2018 A-1, RB		6.25%		12/01/2048		1,230	995,945
Series 2018 A-1, RB		6.38%		12/01/2053		1,030	834,241
Series 2018 A-2, RB(b)		5.50%		12/01/2028		700	629,613
							47,512,537
Guam–0.07%
Guam (Territory of) Waterworks Authority; Series 2020 A, RB		5.00%		01/01/2050		1,500	1,507,011
Illinois–7.44%
Chicago (City of), IL; Series 2012, RB (INS - BAM)(d)		4.00%		01/01/2042		6,000	5,967,256
Chicago (City of), IL (O’Hare International Airport);
Series 2015 B, Ref. RB		5.00%		01/01/2034		2,500	2,569,276
Series 2016 B, Ref. RB		5.00%		01/01/2041		3,000	3,058,789
Series 2017 D, RB		5.00%		01/01/2052		3,000	3,045,687
Series 2018 B, RB		5.00%		01/01/2048		10,000	10,249,135
Series 2020 A, Ref. RB		4.00%		01/01/2036		5,000	4,999,237
Chicago (City of), IL Board of Education;
Series 1998 B-1, GO Bonds (INS - NATL)(d)(h)		0.00%		12/01/2024		915	848,589
Series 1999 A, GO Bonds (INS - NATL)(d)(h)		0.00%		12/01/2024		1,405	1,303,025
Series 2016, RB		6.00%		04/01/2046		4,300	4,473,809
Series 2018 A, Ref. GO Bonds (INS - AGM)(d)		5.00%		12/01/2026		775	805,574
Series 2018 A, Ref. GO Bonds (INS - AGM)(d)		5.00%		12/01/2028		2,250	2,369,128
Series 2018 A, Ref. GO Bonds (INS - AGM)(d)		5.00%		12/01/2031		1,000	1,044,941
Series 2018 A, Ref. GO Bonds (INS - AGM)(d)		5.00%		12/01/2034		1,205	1,238,630
Series 2022 A, GO Bonds		5.00%		12/01/2047		3,200	2,988,676
Chicago (City of), IL Transit Authority;
Series 2020 A, Ref. RB		5.00%		12/01/2045		20	20,559
Series 2020 A, Ref. RB		5.00%		12/01/2055		2,140	2,181,036
Cook (County of), IL; Series 2021 A, Ref. RB		4.00%		11/15/2041		3,500	3,372,234
Cook County Community School District No. 147; Series 2004 A, Ref. GO Bonds (INS - ACA)(d)		7.13%		06/01/2024		1,105	1,124,892
Du Page (County of), IL Special Service Area No. 31; Series 2006, RB		5.63%		03/01/2036		298	289,561
Gilberts (Village of), IL; Series 2014, Ref. RB (INS - AGM)(d)		5.00%		03/01/2035		2,000	2,037,728
Gilberts (Village of), IL Special Service Area No. 24 (The Conservancy); Subseries 2014 A, RB		5.38%		03/01/2034		690	610,807
Harvey (City of), IL;
Series 2007 A, Ref. GO Bonds (Acquired 09/02/2009; Cost $1,773,512)(e)(j)		5.50%		12/01/2027		2,225	2,038,656
Series 2007 A, Ref. GO Bonds (Acquired 09/03/2009; Cost $758,969)(e)(j)		5.63%		12/01/2032		1,000	916,250
Series 2008, RB		6.88%		08/01/2028		2,685	2,438,643

See accompanying notes which are an integral part of this schedule.

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate	Maturity Date	Principal Amount (000)		Value
Illinois–(continued)
Illinois (State of);
Series 2014, GO Bonds	5.00%	04/01/2025		$    2,000	$       2,034,266
Series 2014, GO Bonds	5.00%	02/01/2039		1,525	1,530,713
Series 2016, GO Bonds (INS - BAM)(d)	4.00%	06/01/2041		5,000	4,520,559
Series 2017 C, GO Bonds	5.00%	11/01/2029		3,000	3,127,685
Series 2018 A, GO Bonds	5.00%	05/01/2036		2,610	2,674,985
Series 2018 A, Ref. GO Bonds	5.00%	10/01/2029		6,500	6,822,814
Series 2018 A, Ref. GO Bonds	5.00%	10/01/2032		3,000	3,131,605
Series 2018 A, Ref. GO Bonds	5.00%	10/01/2033		750	780,320
Series 2018 B, Ref. GO Bonds	5.00%	10/01/2029		5,000	5,248,319
Series 2020, GO Bonds	5.50%	05/01/2039		3,750	3,958,424
Illinois (State of) Finance Authority (University of Illinois Health Services); Series 2020, RB	4.00%	10/01/2040		3,950	3,610,689
Illinois (State of) Metropolitan Pier & Exposition Authority (McCormick Place Expansion); Series 1998 A, RB (INS - AGM)(d)	5.50%	12/15/2023		360	365,167
Illinois (State of) Regional Transportation Authority; Series 2018 B, RB	4.00%	06/01/2043		1,365	1,351,334
Illinois (State of) Sports Facilities Authority;
Series 2014, Ref. RB (INS - AGM)(d)	5.25%	06/15/2032		2,000	2,050,378
Series 2019, Ref. RB (INS - BAM)(d)	5.00%	06/15/2028		2,520	2,641,347
Series 2019, Ref. RB (INS - BAM)(d)	5.00%	06/15/2029		455	479,985
Series 2019, Ref. RB (INS - BAM)(d)	5.00%	06/15/2030		245	258,434
Illinois (State of) Toll Highway Authority;
Series 2020 A, RB	5.00%	01/01/2045		21,090	22,280,252
Series 2021 A, RB	4.00%	01/01/2046		7,785	7,463,476
Jefferson County Township High School District No. 201;
Series 2012 A, GO Bonds	6.50%	12/30/2027		895	1,034,052
Series 2012 A, GO Bonds	6.50%	12/30/2028		955	1,126,087
Series 2012 A, GO Bonds	6.50%	12/30/2031		1,160	1,444,042
Lincolnshire (Village of), IL (Sedgewick); Series 2004, RB	6.25%	03/01/2034		2,000	1,852,177
Markham (City of), IL; Series 2008 B, GO Bonds	5.75%	02/01/2028		480	436,589
Northern Illinois Municipal Power Agency; Series 2016 A, Ref. RB	4.00%	12/01/2041		1,050	987,452
Plano (City of), IL Special Service Area No. 5 (Lakewood Springs Club); Series 2006, RB	6.00%	03/01/2036		367	355,393
Regional Transportation Authority; Series 2018 XF2618, Revenue Ctfs.(i)	4.00%	06/01/2043		18,000	17,819,793
Sales Tax Securitization Corp.; Series 2018 C, Ref. RB (INS - BAM)(d)	5.25%	01/01/2048		5,000	5,225,485
Southwestern Illinois Development Authority; Series 2006, RB(e)	5.63%	11/01/2026		890	534,000
Stephenson County School District No. 145 Freeport;
Series 2018 A, GO Bonds(a)(b)	5.00%	02/01/2028		210	232,438
Series 2018 A, GO Bonds(a)(b)	5.00%	02/01/2028		135	149,425
Series 2018 A, GO Bonds(a)(b)	5.00%	02/01/2028		160	177,096
Series 2018 A, GO Bonds (INS - AGM)(d)	5.00%	02/01/2032		945	1,048,961
Series 2018 A, GO Bonds (INS - AGM)(d)	5.00%	02/01/2033		690	764,358
Series 2018 A, GO Bonds (INS - AGM)(d)	5.00%	02/01/2034		615	678,886
Yorkville (United City of), IL (United City Special Services Area); Series 2013, Ref. RB	5.00%	03/01/2033		1,848	1,734,284
					169,923,388
Indiana–0.55%
Columbus (City of), IN; Series 2019, RB	5.63%	05/01/2039		3,575	3,013,333
Indiana (State of) Finance Authority (Good Samaritan Hospital); Series 2016 A, RB	5.50%	04/01/2026		1,620	1,725,475
Indiana (State of) Municipal Power Agency; Series 2016 A, Ref. RB	5.00%	01/01/2037		7,500	7,885,294
					12,624,102
Iowa–0.51%
Iowa (State of) Finance Authority;
Series 2007 B, RB	5.38%	06/01/2025		120	117,423
Series 2007, RB(e)	5.90%	12/01/2028		400	1,040
Iowa (State of) Finance Authority (Iowa Fertilizer Co.); Series 2022, Ref. RB(b)	5.00%	12/01/2042		7,785	7,527,081
Iowa (State of) Finance Authority (Mercy Medical Center); Series 2012, RB	5.00%	08/15/2028		1,685	1,686,817
Iowa (State of) Finance Authority (Unitypoint Health); Series 2018 B, Ref. RB	5.00%	02/15/2048		1,300	1,333,622
Xenia (City of), IA Rural Water District; Series 2016, Ref. RB(a)(b)	5.00%	12/01/2026		1,000	1,088,814
					11,754,797

See accompanying notes which are an integral part of this schedule.

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate		Maturity Date		Principal Amount (000)		Value
Kansas–0.01%
Pittsburgh (City of), KS; Series 2006, RB		4.90%		04/01/2024		$       275	$         252,090
Kentucky–2.69%
Kentucky (Commonwealth of) Municipal Power Agency (Prairie State);
Series 2016 A, Ref. RB (INS - NATL)(d)		5.00%		09/01/2032		5,480	5,874,244
Series 2016 A, Ref. RB (INS - NATL)(d)		5.00%		09/01/2033		11,525	12,345,675
Series 2016 A, Ref. RB (INS - NATL)(d)		5.00%		09/01/2034		5,000	5,361,549
Kentucky (Commonwealth of) Property & Building Commission (No. 115);
Series 2017, RB		5.00%		04/01/2037		2,500	2,649,083
Series 2017, RB (INS - BAM)(d)		5.00%		04/01/2038		2,500	2,649,325
Kentucky (Commonwealth of) Property & Building Commission (No. 119);
Series 2018, RB		5.00%		05/01/2035		1,500	1,608,933
Series 2018, RB		5.00%		05/01/2036		1,170	1,248,166
Series 2018, RB		5.00%		05/01/2037		4,605	4,888,546
Kentucky (Commonwealth of) Public Energy Authority; Series 2022 A-1, RB(b)		4.00%		08/01/2030		15,000	14,588,257
Louisville (City of) & Jefferson (County of), KY Metropolitan Government (Norton Healthcare, Inc.); Series 2013 A, RB		5.75%		10/01/2042		10,000	10,159,737
Springfield (City of), KY; Series 2004, Ref. RB(e)(g)		5.75%		10/01/2035		15	38
							61,373,553
Louisiana–1.43%
Denham Springs (City of) & Livingston (Parish of), LA Housing & Mortgage Finance Authority; Series 2007, RB (CEP - GNMA)		5.00%		11/01/2040		4	3,441
Louisiana (State of) Public Facilities Authority (19th Judicial District Court Building); Series 2015, Ref. RB(a)(b)		5.00%		06/01/2025		2,500	2,637,898
Louisiana (State of) Public Facilities Authority (Archdiocese of New Orleans);
Series 2017, Ref. RB		5.00%		07/01/2032		395	355,500
Series 2017, Ref. RB		5.00%		07/01/2033		300	270,000
Series 2017, Ref. RB		5.00%		07/01/2037		345	310,500
Louisiana (State of) Public Facilities Authority (Ochsner Clinic Foundation); Series 2017, Ref. RB		5.00%		05/15/2046		7,500	7,677,589
Louisiana (State of) Public Facilities Authority (Provident Group-Flagship Properties LLC- Louisiana State University Nicholson Gateway); Series 2017, RB		5.00%		07/01/2057		1,300	1,313,960
Louisiana (State of) Stadium & Exposition District; Series 2013 A, Ref. RB		5.00%		07/01/2028		50	50,468
Louisiana State University & Agricultural & Mechanical College Board of Supervisors; Series 2016 A, Ref. RB(a)(b)		5.00%		07/01/2026		4,035	4,352,309
New Orleans (City of), LA Aviation Board (Parking Facilities Corp. Consolidated Garage System);
Series 2018 A, RB (INS - AGM)(d)		5.00%		10/01/2043		700	731,864
Series 2018 A, RB (INS - AGM)(d)		5.00%		10/01/2048		1,280	1,330,652
New Orleans (Port of), LA Board of Commissioners; Series 2020 D, RB		5.00%		04/01/2050		9,395	9,825,430
St. John the Baptist (Parish of), LA (Marathon Oil Corp.); Series 2017, Ref. RB(b)		2.13%		07/01/2024		2,000	1,935,365
Subseries 2017 A-3, Ref. RB(b)		2.20%		07/01/2026		2,000	1,838,805
							32,633,781
Maryland–1.11%
Baltimore (City of), MD (Water); Series 2020 A, RB		4.00%		07/01/2045		2,000	2,002,592
Baltimore (County of), MD (Riderwood Village, Inc.);
Series 2020, Ref. RB		4.00%		01/01/2045		5,250	5,099,986
Series 2020, Ref. RB		4.00%		01/01/2050		6,000	5,727,625
Gaithersburg (City of), MD (Asbury Maryland Obligated Group); Series 2018 A, Ref. RB		5.00%		01/01/2036		1,500	1,503,939
Maryland (State of) Health & Higher Educational Facilities Authority;
Series 2001, RB (INS - AMBAC)(d)		5.00%		07/01/2034		5	5,037
Series 2016, Ref. RB		5.00%		06/01/2036		400	412,757
Maryland (State of) Health & Higher Educational Facilities Authority (UPMC); Series 2020 B, RB		4.00%		04/15/2050		5,000	4,479,651
Maryland Economic Development Corp.; Series 2016, Ref. RB (INS - AGM)(d)		5.00%		06/01/2035		4,530	4,683,855
Prince George’s (County of), MD (Victoria Falls); Series 2005, RB		5.25%		07/01/2035		1,531	1,531,736
							25,447,178
Massachusetts–1.31%
Massachusetts (Commonwealth of); Series 2016-XF0530, Ctfs. Of Obligation(i)		5.00%		12/01/2035		20,000	21,389,700

See accompanying notes which are an integral part of this schedule.

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate		Maturity Date		Principal Amount (000)		Value
Massachusetts–(continued)
Massachusetts (Commonwealth of) Development Finance Agency;
Series 2016 I, Ref. RB		5.00%		07/01/2036		$    2,000	$       2,053,419
Series 2019 A, Ref. RB		4.00%		07/01/2044		3,000	2,639,713
Massachusetts (Commonwealth of) Development Finance Agency (SpringField College);
Series 2021 B, Ref. RB		4.00%		06/01/2041		2,535	2,299,040
Series 2021 B, Ref. RB		4.00%		06/01/2050		1,700	1,450,895
							29,832,767
Michigan–3.48%
Detroit (City of), MI; Series 2003 B-R, RB (INS - AGM)(d)		7.50%		07/01/2033		60	60,228
Detroit (City of), MI Downtown Development Authority (Catalyst Development);
Series 2018 A, Ref. RB (INS - AGM)(d)		5.00%		07/01/2043		150	150,692
Series 2018 A, Ref. RB (INS - AGM)(d)		5.00%		07/01/2048		1,350	1,356,225
Michigan (State of); Series 2021, RB		4.00%		11/15/2046		6,000	5,865,941
Michigan (State of) Finance Authority;
Series 2005 A, RB		6.00%		12/01/2035		1,155	1,054,710
Series 2008 C, RB(h)		0.00%		06/01/2058		289,275	12,988,939
Series 2010 A, RB		5.90%		12/01/2030		505	483,605
Series 2014 D-6, Ref. RB (INS - NATL)(d)		5.00%		07/01/2025		1,000	1,034,997
Series 2014 D-6, Ref. RB (INS - NATL)(d)		5.00%		07/01/2026		895	926,182
Series 2014 D-6, Ref. RB (INS - NATL)(d)		5.00%		07/01/2027		930	962,255
Series 2014, Ref. RB(a)(b)(f)		6.75%		07/01/2024		1,945	2,049,255
Series 2014, Ref. RB(f)		6.75%		07/01/2044		4,055	4,066,092
Series 2018, Ref. RB		5.75%		11/01/2040		635	633,556
Michigan (State of) Finance Authority (CHE Trinity Health Credit Group); Series 2013 MI-4, Ref. RB		5.00%		12/01/2039		5,000	5,292,387
Michigan (State of) Finance Authority (Detroit Water & Sewerage Department);
Series 2014 C-6, Ref. RB		5.00%		07/01/2033		1,000	1,026,080
Series 2014 D-4, Ref. RB		5.00%		07/01/2032		2,450	2,520,004
Series 2014 D-4, Ref. RB		5.00%		07/01/2034		1,000	1,024,682
Series 2015 C, RB		5.00%		07/01/2034		2,200	2,268,450
Michigan (State of) Finance Authority (Henry Ford Health System); Series 2016, Ref. RB		5.00%		11/15/2041		6,300	6,437,334
Michigan (State of) Strategic Fund; Series 2007, RB		5.85%		08/31/2027		6,074	5,467,503
Michigan (State of) Trunk Line; Series 2020 B, RB		4.00%		11/15/2045		10,000	9,823,202
Michigan State University Board of Trustees; Series 2019 B, RB		5.00%		02/15/2044		1,180	1,264,270
Plymouth Educational Center Charter School;
Series 2005, Ref. RB(g)		5.38%		11/01/2030		400	244,000
Series 2005, Ref. RB(g)		5.63%		11/01/2035		1,325	808,250
Renaissance Public School Academy; Series 2012 A, RB		6.00%		05/01/2037		500	499,952
Walled Lake Consolidated School District;
Series 2019, GO Bonds		4.00%		05/01/2039		600	606,333
Series 2019, GO Bonds		4.00%		05/01/2040		1,220	1,229,573
Series 2019, GO Bonds		4.00%		05/01/2041		2,485	2,509,801
Series 2019, GO Bonds		5.00%		05/01/2044		6,385	6,881,363
							79,535,861
Minnesota–0.23%
Bethel (City of), MN (Benedictine Health System - St. Peter Communities); Series 2018 A, Ref. RB		5.50%		12/01/2048		1,050	864,769
Duluth (City of), MN Economic Development Authority (Essentia Health Obligated Group); Series 2018 A, Ref. RB		5.00%		02/15/2043		2,300	2,342,742
Minnesota (State of) Higher Education Facilities Authority; Series 2017, Ref. RB		5.00%		10/01/2047		900	905,286
Mound (City of), MN Housing & Redevelopment Authority; Series 2006, Ref. RB		5.00%		02/15/2027		456	439,567
St. Paul Park (City of), MN (Presbyterian Homes Bloomington); Series 2017, Ref. RB		5.00%		09/01/2042		680	662,463
							5,214,827
Mississippi–0.82%
Jackson (County of), MS (Chevron U.S.A., Inc.); Series 1993, Ref. VRD RB(k)		1.45%		06/01/2023		7,150	7,150,000
Mississippi (State of) Development Bank; Series 2016, RB (CEP - Colorado Higher Education Intercept Program)		5.00%		12/01/2046		10,000	10,492,591
Mississippi Business Finance Corp. (System Energy Resources, Inc.); Series 2021, RB		2.38%		06/01/2044		1,795	1,191,272
							18,833,863

See accompanying notes which are an integral part of this schedule.

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate		Maturity Date		Principal Amount (000)		Value
Missouri–0.85%
Branson (City of), MO Industrial Development Authority (Branson Hills Redevelopment);
Series 2005 A, RB(g)		7.05%		05/01/2027		$         70	$            59,201
Series 2007 A, RB(g)		5.75%		05/01/2026		715	610,035
Broadway-Fairview Transportation Development District; Series 2006 A, RB(g)		5.88%		12/01/2031		675	423,563
Chillicothe (City of), MO (South U.S. 65); Series 2006, RB(g)		5.63%		04/01/2027		400	333,786
Columbia (City of), MO Housing Authority (Stuart Park/Paquin Tower Apartments);
Series 2015, RB		5.00%		12/15/2040		580	509,627
Series 2015, RB		5.13%		12/15/2050		1,330	1,122,428
Grindstone Plaza Transportation Development District; Series 2006 A, RB		5.50%		10/01/2031		355	350,580
Hollister (City of), MO; Series 2019, RB(f)		5.63%		10/01/2039		4,700	4,220,161
Kansas City (City of), MO Industrial Development Authority (Ward Parkway Center Community Improvement District); Series 2016 A, Ref. RB(f)		5.00%		04/01/2046		295	253,234
Lee’s Summit (City of), MO Industrial Development Authority; Series 2007, RB(e)(g)		5.75%		03/01/2029		250	155,000
Maplewood (City of), MO (Maplewood South Redevelopment Area); Series 2005, Ref. RB		5.75%		11/01/2026		1,335	1,283,466
Missouri (State of) Health & Educational Facilities Authority (Washington University); Series 2000 B, VRD RB(k)		1.40%		03/01/2040		2,600	2,600,000
Northwoods Transportation Development District; Series 2006 A, RB		5.85%		02/01/2031		52	41,154
St. Charles (County of), MO Industrial Development Authority (Suemandy/Mid-Rivers Community Improvement District); Series 2016, RB(f)		5.00%		10/01/2046		1,025	831,399
St. Louis (City of), MO;
Series 2006 A, RB(g)(l)		6.00%		08/04/2025		481	52,910
Series 2007, RB(g)		5.50%		05/29/2028		661	270,889
St. Louis (City of), MO Land Clearance for Redevelopment Authority; Series 2018 A, RB		5.00%		04/01/2048		3,250	3,354,904
St. Louis (County of), MO;
Series 2006, RB(g)(l)		6.00%		08/21/2026		545	87,200
Series 2006, RB(g)(l)		6.00%		08/21/2026		846	186,120
Series 2006, RB(g)		5.50%		03/09/2027		1,879	507,330
Series 2007 A, RB(g)		5.50%		01/20/2028		748	314,160
Series 2007 A, RB(g)		5.50%		09/02/2028		373	123,090
Series 2007 B, RB(g)(l)		5.50%		01/20/2028		466	23,300
Series 2008 A, RB(g)		6.60%		01/21/2028		3,255	1,367,100
Series 2008, RB(g)(l)		6.69%		04/21/2029		1,080	183,600
Stone Canyon Community Improvement District; Series 2007, RB(e)(g)		5.75%		04/01/2027		320	83,200
							19,347,437
Montana–0.09%
Hardin (City of), MT; Series 2006, RB(g)(l)		6.25%		09/01/2031		11,710	2,107,800
Nebraska–0.54%
Central Plains Energy Project (No. 3); Series 2017 A, Ref. RB		5.00%		09/01/2035		6,150	6,440,084
Omaha Public Power District; Series 2021 A, RB (INS - AGM)(d)		4.00%		02/01/2051		6,000	5,785,118
							12,225,202
Nevada–0.84%
Clark (County of), NV (Special Improvement District No. 128);
Series 2007 A, RB		5.00%		02/01/2026		250	250,281
Series 2007 A, RB		5.05%		02/01/2031		245	245,146
Clark (County of), NV (Stadium Improvement Bonds); Series 2018 A, GO Bonds		5.00%		05/01/2048		2,500	2,632,865
Clark County School District; Series 2018 B, GO Bonds (INS - BAM)(d)		5.00%		06/15/2036		5,280	5,709,687
Las Vegas (City of), NV Convention & Visitors Authority; Series 2018 B, RB		5.00%		07/01/2043		10,000	10,377,404
							19,215,383
New Hampshire–0.43%
Manchester Housing & Redevelopment Authority, Inc.; Series 2000 B, RB (INS - ACA)(d)(h)		0.00%		01/01/2029		305	224,695

See accompanying notes which are an integral part of this schedule.

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate		Maturity Date		Principal Amount (000)		Value
New Hampshire–(continued)
New Hampshire (State of) Business Finance Authority;
Series 2019 A, RB(f)		5.25%		07/01/2039		$       410	$         375,142
Series 2019 A, RB(f)		5.63%		07/01/2046		230	212,908
Series 2019 A, RB(f)		5.75%		07/01/2054		570	525,762
Series 2020-1A, RB		4.13%		01/20/2034		3,837	3,701,335
Series 2022-2A, RB		4.00%		10/20/2036		5,075	4,679,873
							9,719,715
New Jersey–8.22%
Atlantic City (City of), NJ;
Series 2017 A, Ref. GO Bonds (INS - BAM)(d)		5.00%		03/01/2032		250	267,771
Series 2017 A, Ref. GO Bonds (INS - BAM)(d)		5.00%		03/01/2037		500	525,049
Series 2017 B, GO Bonds (INS - AGM)(d)		4.00%		03/01/2042		3,510	3,435,884
Casino Reinvestment Development Authority, Inc.;
Series 2014, Ref. RB (INS - AGM)(d)		5.00%		11/01/2030		2,000	2,066,998
Series 2014, Ref. RB (INS - AGM)(d)		5.00%		11/01/2032		2,000	2,063,948
Hudson County Improvement Authority; Series 2020, RB		4.00%		10/01/2046		10,000	9,606,296
New Jersey (State of); Series 2020 A, GO Bonds		4.00%		06/01/2032		6,380	6,754,317
New Jersey (State of) Economic Development Authority;
Series 2016 AAA, RB		5.00%		06/15/2041		3,000	3,056,675
Series 2017 DDD, RB		5.00%		06/15/2028		1,930	2,073,823
Series 2017 DDD, RB		5.00%		06/15/2029		3,500	3,746,359
Series 2017, Ref. RB (INS - AGM)(d)		5.00%		06/01/2037		1,000	1,020,451
Series 2018 A, RB		5.00%		06/15/2042		3,500	3,574,973
Series 2018 A, RB		5.00%		06/15/2047		735	747,135
Series 2018 C, RB		5.00%		06/15/2031		4,855	5,198,819
Series 2019, RB		4.00%		06/15/2044		3,000	2,753,746
Series 2020, RB		4.00%		11/01/2038		1,750	1,689,828
New Jersey (State of) Economic Development Authority (Golden Door Charter School); Series 2018 A, RB(f)		6.50%		11/01/2052		220	229,838
New Jersey (State of) Economic Development Authority (Newark Downtown District Management Corp.); Series 2019, Ref. RB		5.13%		06/15/2037		904	967,601
New Jersey (State of) Health Care Facilities Financing Authority; Series 2015 A, RB (INS - AGM)(d)		5.00%		07/01/2029		2,100	2,189,358
New Jersey (State of) Transportation Trust Fund Authority;
Series 2004 A, RB (INS - NATL)(d)		5.75%		06/15/2024		11,570	12,058,296
Series 2008 A, RB(h)		0.00%		12/15/2038		5,680	2,568,672
Series 2009 D, RB		5.00%		06/15/2032		5,015	5,158,845
Series 2016, RN		5.00%		06/15/2030		6,000	6,317,880
Series 2018 A, Ref. RN		5.00%		06/15/2029		6,660	7,019,967
Series 2018 A, Ref. RN		5.00%		06/15/2030		945	995,066
Series 2018 A, Ref. RN		5.00%		06/15/2031		880	924,266
Series 2019 BB, RB		4.00%		06/15/2050		7,125	6,427,341
Series 2020 AA, RB		4.00%		06/15/2050		10,200	9,201,246
Series 2020 AA, RB		5.00%		06/15/2050		1,230	1,254,048
New Jersey (State of) Turnpike Authority;
Series 2015 E, RB		5.00%		01/01/2034		7,000	7,272,395
Series 2019 A, RB		5.00%		01/01/2048		3,000	3,167,706
Series 2021 A, RB		4.00%		01/01/2042		2,000	1,978,587
Series 2021 A, RB		4.00%		01/01/2051		10,000	9,455,601
Tobacco Settlement Financing Corp.;
Series 2018 A, Ref. RB		5.00%		06/01/2028		3,500	3,659,266
Series 2018 A, Ref. RB		5.00%		06/01/2030		5,000	5,217,865
Series 2018 A, Ref. RB		5.00%		06/01/2031		11,600	12,086,423
Series 2018 A, Ref. RB		5.00%		06/01/2032		12,980	13,498,763
Series 2018 A, Ref. RB		5.00%		06/01/2033		5,005	5,189,084
Series 2018 A, Ref. RB		5.00%		06/01/2037		3,000	3,065,735
Series 2018 A, Ref. RB		5.00%		06/01/2046		6,000	5,886,158
Series 2018 B, Ref. RB		5.00%		06/01/2046		13,700	13,258,600
							187,630,679

See accompanying notes which are an integral part of this schedule.

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate		Maturity Date		Principal Amount (000)		Value
New Mexico–0.09%
Boulders Public Improvement District; Series 2015, RB		5.75%		10/01/2044		$       230	$          208,023
Trails Public Improvement District; Series 2008, RB		7.75%		10/01/2038		1,775	1,774,938
							1,982,961
New York–11.74%
Hudson Yards Infrastructure Corp.;
Series 2017 XF0549, Revenue Ctfs.(i)		5.00%		02/15/2037		8,500	8,999,769
Series 2017 XF0549, Revenue Ctfs.(i)		5.00%		02/15/2039		7,500	7,881,105
Metropolitan Transportation Authority;
Series 2016 C-1, RB		5.25%		11/15/2056		5,000	5,046,618
Subseries 2015 C-1, Ref. RB		5.00%		11/15/2035		10,500	10,618,843
Metropolitan Transportation Authority (Green Bonds);
Series 2016 A-1, RB		5.25%		11/15/2056		14,375	14,493,434
Series 2017 A-1, RB		5.25%		11/15/2057		3,500	3,533,556
MTA Hudson Rail Yards Trust Obligations; Series 2016 A, RB		5.00%		11/15/2056		13,150	13,150,388
New York & New Jersey (States of) Port Authority; One Hundred Ninety Fourth Series 2015, Ref. RB		5.25%		10/15/2055		10,000	10,365,348
New York (City of), NY;
Series 2022 A, GO Bonds		5.25%		09/01/2043		10,000	11,160,223
Subseries 2014 I-2, VRD GO Bonds(k)		1.40%		03/01/2040		1,160	1,160,000
New York (City of), NY Municipal Water Finance Authority;
Series 2018 EE, Ref. RB		5.00%		06/15/2040		10,160	10,848,164
Subseries 2012 A-1, VRD RB(k)		1.30%		06/15/2044		490	490,000
New York (City of), NY Transitional Finance Authority;
Series 2018 S-3, RB		5.00%		07/15/2043		14,000	14,767,735
Series 2019 A-3, RB		4.00%		05/01/2041		10,000	9,779,435
Series 2022 C-1, RB		4.00%		02/01/2051		4,000	3,749,356
Series 2022, RB		4.00%		02/01/2043		5,000	4,842,895
New York (State of) Dormitory Authority;
Series 2015 B, RB		5.00%		03/15/2033		10,000	10,566,502
Series 2015 B, Ref. RB(a)(b)		5.00%		07/01/2025		2,650	2,804,083
Series 2016 A, RB		5.00%		03/15/2035		5,000	5,351,897
Series 2020 D, Ref. RB		4.00%		02/15/2047		14,300	13,620,061
Series 2021 A, Ref. RB		5.00%		03/15/2049		5,000	5,323,850
New York (State of) Dormitory Authority (Columbia University); Series 2017 A, RB		5.00%		10/01/2047		10,990	12,943,397
New York (State of) Power Authority (Green Bonds);
Series 2020 A, Ref. RB		4.00%		11/15/2045		7,000	6,845,813
Series 2020 A, Ref. RB		4.00%		11/15/2050		5,000	4,808,680
New York (State of) Thruway Authority; Series 2019 B, RB		4.00%		01/01/2050		10,015	9,249,595
New York (State of) Thruway Authority (Group 2); Series 2021 O, Ref. RB		4.00%		01/01/2046		5,000	4,711,050
New York Counties Tobacco Trust II; Series 2001, RB		5.75%		06/01/2043		65	66,297
New York Counties Tobacco Trust VI; Series 2016 A-1, Ref. RB		5.75%		06/01/2043		285	294,105
New York Liberty Development Corp. (Goldman Sachs Headquarters); Series 2005, Ref. RB		5.25%		10/01/2035		6,075	6,674,004
New York State Urban Development Corp.;
Series 2020 A, RB		5.00%		03/15/2041		1,800	1,941,461
Series 2020 A, RB		5.00%		03/15/2042		515	554,516
Series 2020 A, RB		4.00%		03/15/2045		14,130	13,448,219
Series 2020 A, RB		4.00%		03/15/2049		10,000	9,335,055
Series 2020 C, Ref. RB		5.00%		03/15/2050		7,000	7,442,420
New York Transportation Development Corp. (Terminal 4 JFK International Airport);
Series 2020, Ref. RB		5.00%		12/01/2035		2,305	2,399,470
Series 2020, Ref. RB		5.00%		12/01/2036		2,205	2,285,848
Triborough Bridge & Tunnel Authority; Series 2021 A-1, Ref. RB		5.00%		05/15/2051		3,260	3,465,470
Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels); Series 2022 A, RB		5.25%		05/15/2052		5,000	5,493,606
TSASC, Inc.;
Series 2016 B, Ref. RB		5.00%		06/01/2045		5,450	5,134,220
Series 2017 A, Ref. RB		5.00%		06/01/2036		2,455	2,509,708
							268,156,196

See accompanying notes which are an integral part of this schedule.

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate		Maturity Date		Principal Amount (000)		Value
North Carolina–0.71%
Charlotte (City of), NC (Charlotte Douglas International Airport); Series 2022, RB		4.00%		07/01/2047		$    8,370	$       7,993,133
Charlotte-Mecklenburg Hospital Authority (The) (Carolinas Health Care Systems); Series 2007 C, Ref. VRD RB(k)		1.40%		01/15/2037		2,830	2,830,000
North Carolina (State of) Turnpike Authority; Series 2018, Ref. RB (INS - AGM)(d)		5.00%		01/01/2038		5,000	5,317,200
							16,140,333
Ohio–2.44%
Buckeye Tobacco Settlement Financing Authority;
Series 2020 B-2, Ref. RB		5.00%		06/01/2055		27,705	25,422,862
Series 2020 B-3, Ref. RB(h)		0.00%		06/01/2057		49,575	5,814,444
Cleveland (City of) & Cuyahoga (County of), OH Port Authority (Flats East Bank); Series 2010, RB		6.00%		11/15/2035		3,445	3,454,542
Cuyahoga (County of), OH (MetroHealth System);
Series 2017, Ref. RB		5.50%		02/15/2052		2,475	2,512,243
Series 2017, Ref. RB		5.50%		02/15/2057		1,050	1,064,612
Greater Cincinnati (Port of), OH Development Authority;
Series 2004, RB		6.30%		02/15/2024		540	538,559
Series 2004, RB		6.40%		02/15/2034		5,860	5,664,166
Greene (County of), OH; Series 2002 A, RB (INS - ACA)(d)		5.50%		09/01/2027		820	820,044
Jeffrey Place New Community Authority; Series 2007 A, RB		5.00%		12/01/2022		100	100,000
Ohio (State of);
Series 2017 A, GO Bonds		5.00%		03/15/2036		5,000	5,121,879
Series 2020 A, Ref. RB		5.00%		01/15/2050		3,905	3,983,343
Ohio (State of) Higher Educational Facility Commission; Series 2018, Ref. RB		5.25%		01/01/2038		1,350	1,182,183
							55,678,877
Oklahoma–0.14%
Carter (County of), OK Public Facilities Authority; Series 2018, RB		5.00%		09/01/2032		3,070	3,257,599
Oregon–0.09%
Yamhill (County of), OR Hospital Authority (Friendsview);
Series 2021 A, Ref. RB		5.00%		11/15/2046		1,540	1,259,745
Series 2021 A, Ref. RB		5.00%		11/15/2051		1,100	877,548
							2,137,293
Pennsylvania–6.87%
Allegheny (County of), PA Hospital Development Authority (Allegheny Health Network Obligated Group Issue); Series 2018 A, Ref. RB		5.00%		04/01/2036		2,825	2,962,775
Bethlehem Area School District; Series 2015 A, GO Bonds (INS - BAM)(d)		5.00%		08/01/2033		5,000	5,263,822
Chester (County of), PA Industrial Development Authority (Longwood Gardens);
Series 2019, RB		5.00%		12/01/2044		1,840	1,991,387
Series 2019, RB		4.00%		12/01/2049		1,350	1,253,330
Commonwealth Financing Authority;
Series 2018, RB		5.00%		06/01/2030		1,250	1,367,445
Series 2018, RB		5.00%		06/01/2032		3,000	3,264,656
Series 2018, RB		5.00%		06/01/2033		2,000	2,169,672
Series 2018, RB		5.00%		06/01/2034		1,760	1,901,055
Delaware (County of), PA Authority (Neumann University);
Series 2016, Ref. RB		5.00%		10/01/2031		1,425	1,446,357
Series 2016, Ref. RB		5.00%		10/01/2035		2,305	2,323,904
Geisinger Authority (Geisinger Health System); Series 2017 A-1, Ref. RB		5.00%		02/15/2045		6,335	6,430,499
Lebanon (County of), PA Health Facilities Authority (E.C.C. Retirement Village); Series 2000, VRD RB (LOC - PNC Bank N.A.)(k)(m)		1.85%		10/15/2025		1,130	1,130,000
Montgomery (County of), PA Higher Education & Health Authority (Thomas Jefferson University); Series 2019, Ref. RB		4.00%		09/01/2049		5,250	4,638,632
Pennsylvania (Commonwealth of);
First Series 2013 1, GO Bonds		4.00%		04/01/2032		5,000	5,017,468
First Series 2018 1, GO Bonds		5.00%		03/01/2032		10,000	11,017,167
First Series 2018 1, GO Bonds		4.00%		03/01/2035		12,500	12,698,401
First Series 2018-1, GO Bonds (INS - BAM)(d)		4.00%		03/01/2036		4,175	4,313,249

See accompanying notes which are an integral part of this schedule.

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate		Maturity Date		Principal Amount (000)		Value
Pennsylvania–(continued)
Pennsylvania (Commonwealth of) Public School Building Authority (Philadelphia School District);
Series 2016 A, Ref. RB (INS - AGM)(d)		5.00%		06/01/2032		$    5,000	$       5,242,503
Series 2016 A, Ref. RB (INS - AGM)(d)		5.00%		06/01/2033		5,000	5,231,147
Pennsylvania (Commonwealth of) Turnpike Commission;
Series 2009 E, RB		6.38%		12/01/2038		1,500	1,705,691
Series 2014 A-3, RB(h)		0.00%		12/01/2041		3,450	1,445,346
Series 2016, Ref. RB		5.00%		06/01/2030		5,000	5,268,965
Series 2017 3, Ref. RB		5.00%		12/01/2040		5,125	5,315,045
Series 2019 A, RB		5.00%		12/01/2044		7,750	8,060,612
Series 2020 B, RB		5.00%		12/01/2045		5,000	5,252,131
Series 2021 A, RB		4.00%		12/01/2050		2,000	1,771,369
Series 2021 B, RB		4.00%		12/01/2051		8,500	7,588,490
Series 2021 B, Ref. RB		5.00%		12/01/2051		7,000	7,340,869
Philadelphia (City of), PA;
Series 2017 15, Ref. RB		5.00%		08/01/2036		1,000	1,055,069
Series 2017 A, RB		5.00%		10/01/2047		10,000	10,359,948
Series 2019 B, RB		5.00%		11/01/2049		1,000	1,046,294
Series 2021 C, RB		5.00%		10/01/2046		5,000	5,312,044
Philadelphia (City of), PA Authority for Industrial Development (Architecture & Design Charter High School); Series 2013, RB(a)(b)		6.13%		03/15/2023		685	691,937
Philadelphia (City of), PA Authority for Industrial Development (St. Joseph’s University); Series 2022, RB		5.25%		11/01/2052		5,000	5,145,607
Philadelphia School District (The); Series 2016 F, Ref. GO Bonds		5.00%		09/01/2032		1,000	1,051,969
Pottsville (City of), PA Hospital Authority (Lehigh Valley); Series 2016 B, Ref. RB		5.00%		07/01/2041		4,000	4,073,266
Reading School District;
Series 2017, Ref. GO Bonds (INS - AGM)(d)		5.00%		03/01/2035		280	294,929
Series 2017, Ref. GO Bonds (INS - AGM)(d)		5.00%		03/01/2036		255	267,188
Scranton School District;
Series 2017 E, Ref. GO Bonds (INS - BAM)(d)		5.00%		12/01/2029		1,000	1,091,610
Series 2017 E, Ref. GO Bonds (INS - BAM)(d)		5.00%		12/01/2030		1,305	1,423,932
Series 2017 E, Ref. GO Bonds (INS - BAM)(d)		5.00%		12/01/2032		890	967,517
Series 2017 E, Ref. GO Bonds (INS - BAM)(d)		5.00%		12/01/2033		710	769,443
							156,962,740
Puerto Rico–4.56%
PRIFA Custodial Trust;
Series 2005 A, RB		0.00%		03/15/2049		731	555,745
Series 2005 A, RB		0.00%		03/15/2049		645	490,637
Series 2022, RB		0.00%		03/15/2049		8,026	2,789,504
Series 2022, RB		0.00%		03/15/2049		7,354	2,679,592
Puerto Rico (Commonwealth of);
Series 2021 A, GO Bonds(h)		0.00%		07/01/2024		1,221	1,121,681
Series 2021 A, GO Bonds(h)		0.00%		07/01/2033		4,698	2,578,815
Series 2021 A-1, GO Bonds		5.25%		07/01/2023		2,038	2,047,463
Series 2021 A-1, GO Bonds		5.38%		07/01/2025		4,066	4,124,443
Series 2021 A-1, GO Bonds		5.63%		07/01/2027		4,029	4,126,556
Series 2021 A-1, GO Bonds		5.63%		07/01/2029		3,964	4,062,891
Series 2021 A-1, GO Bonds		5.75%		07/01/2031		3,850	3,954,438
Series 2021 A-1, GO Bonds		4.00%		07/01/2033		3,651	3,180,914
Series 2021 A-1, GO Bonds		4.00%		07/01/2035		3,281	2,798,414
Series 2021 A-1, GO Bonds		4.00%		07/01/2037		2,816	2,353,796
Series 2021 A-1, GO Bonds		4.00%		07/01/2046		7,929	6,124,116
Series 2022, RB		0.00%		11/01/2051		2,090	935,138
Subseries 2022, RN		0.00%		11/01/2043		18,308	8,353,074
Subseries 2022, RN		0.00%		11/01/2051		45	16,162

See accompanying notes which are an integral part of this schedule.

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate		Maturity Date		Principal Amount (000)		Value
Puerto Rico–(continued)
Puerto Rico (Commonwealth of) Electric Power Authority;
Series 2003 NN, RB (Acquired 10/06/2017; Cost $113,575)(e)(j)		5.50%		12/01/2049		$       295	$          218,669
Series 2005 RR, RB (Acquired 09/28/2017; Cost $30,000) (INS - NATL)(d)(j)		5.00%		07/01/2023		30	30,161
Series 2005 RR, RB (Acquired 05/02/2013; Cost $260,000) (INS - NATL)(d)(j)		5.00%		07/01/2024		260	261,044
Series 2005 SS, Ref. RB (Acquired 05/07/2013-05/09/2013; Cost $4,000,000) (INS - NATL)(d)(j)		5.00%		07/01/2025		4,000	4,016,068
Series 2007 VV, Ref. RB (Acquired 01/30/2013; Cost $1,711,523) (INS - NATL)(d)(j)		5.25%		07/01/2025		1,690	1,697,747
Series 2010 CCC, RB (Acquired 05/22/2014; Cost $1,585,000)(e)(j)		5.00%		07/01/2028		2,500	1,850,000
Series 2010 XX, RB (Acquired 06/17/2014; Cost $939,332)(e)(j)		5.25%		07/01/2040		1,670	1,239,975
Series 2013 E-1, RB (Acquired 06/30/2016; Cost $500,000)(e)(j)		10.00%		12/01/2049		500	390,000
Series 2016 A-4, RB (Acquired 05/19/2016; Cost $500,000)(e)(j)		0.00%		12/01/2049		500	390,000
Series 2016 B-4, RB (Acquired 06/22/2016; Cost $500,000)(e)(j)		10.00%		12/01/2049		500	390,000
Puerto Rico (Commonwealth of) Highway & Transportation Authority;
Series 2003 A-A, RB (INS - AGC)(d)		5.00%		07/01/2035		10	9,939
Series 2003 G, RB (INS - NATL)(d)		5.00%		07/01/2033		20	19,934
Series 2007 M, RB(e)		5.00%		07/01/2046		3,500	708,750
Puerto Rico (Commonwelath of) Electric Power Authority;
Series 2008 WW, RB (Acquired 02/20/2014; Cost $1,988,470)(e)(j)		5.38%		07/01/2023		2,750	2,045,312
Series 2008 WW, RB (Acquired 10/25/2013; Cost $1,525,334)(e)(j)		5.25%		07/01/2025		1,985	1,473,862
Series 2010 AAA, RB (Acquired 02/16/2011; Cost $2,623,963)(e)(j)		5.25%		07/01/2028		2,830	2,101,275
Series 2010 ZZ, Ref. RB (Acquired 10/06/2017; Cost $155,925)(e)(j)		5.25%		07/01/2025		405	300,713
Puerto Rico Public Finance Corp.; Series 2011 B, RB (Acquired 12/08/2011; Cost $5,615,000)(e)(j)		5.50%		08/01/2031		5,615	210,568
Puerto Rico Sales Tax Financing Corp.;
Series 2018 A-1, RB(h)		0.00%		07/01/2046		34,472	8,687,809
Series 2018 A-1, RB(h)		0.00%		07/01/2051		28,082	5,283,971
Series 2018 A-1, RB		4.75%		07/01/2053		9,853	9,002,729
Series 2018 A-1, RB		5.00%		07/01/2058		4,400	4,174,767
Series 2019 A-2, RB		4.54%		07/01/2053		387	337,650
Series 2019 A-2, RB		4.78%		07/01/2058		5,172	4,727,763
University of Puerto Rico;
Series 2006 P, Ref. RB		5.00%		06/01/2026		1,305	1,275,616
Series 2006 P, Ref. RB		5.00%		06/01/2030		900	864,630
Series 2006 Q, RB		5.00%		06/01/2036		150	142,088
							104,144,419
Rhode Island–0.25%
Central Falls Detention Facility Corp.; Series 2005, Ref. RB (Acquired 06/23/2005; Cost $4,862,486)(e)(j)		7.25%		07/15/2035		4,915	884,700
Rhode Island Housing and Mortgage Finance Corp.; Series 1992 10-A, RB		6.50%		04/01/2027		20	20,045
Tobacco Settlement Financing Corp.; Series 2015 A, Ref. RB		5.00%		06/01/2040		4,695	4,741,374
							5,646,119
South Carolina–0.10%
South Carolina (State of) Public Service Authority; Series 2020 A, Ref. RB		5.00%		12/01/2043		2,200	2,265,318
South Dakota–0.07%
Educational Enhancement Funding Corp.; Series 2013 B, RB(a)(b)		5.00%		06/01/2023		1,500	1,518,087
Tennessee–1.10%
Chattanooga (City of), TN Health, Educational & Housing Facility Board (CommonSpirit Health);
Series 2019 A-1, Ref. RB		4.00%		08/01/2038		225	208,128
Series 2019 A-1, Ref. RB		4.00%		08/01/2044		455	395,197
Series 2019 A-2, Ref. RB		5.00%		08/01/2044		340	344,593
Series 2019 A-2, Ref. RB		5.00%		08/01/2049		455	457,520
Greeneville (Town of), TN Health & Educational Facilities Board (Ballad Health Obligated Group);
Series 2018 A, Ref. RB		5.00%		07/01/2035		2,000	2,073,088
Series 2018 A, Ref. RB		5.00%		07/01/2036		3,000	3,100,416
Series 2018 A, Ref. RB		5.00%		07/01/2037		3,000	3,090,698

See accompanying notes which are an integral part of this schedule.

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate		Maturity Date		Principal Amount (000)		Value
Tennessee–(continued)
Metropolitan Development and Housing Agency (Fifth + Broadway Development); Series 2018, RB(f)		5.13%		06/01/2036		$       200	$          201,954
Metropolitan Nashville Airport Authority (The); Series 2019 A, RB		4.00%		07/01/2049		2,500	2,321,769
Nashville (City of) & Davidson (County of), TN Metropolitan Government Health & Educational Facilities Board (The) (Vanderbilt University Medical Center); Series 2016 A, RB		5.00%		07/01/2046		7,000	7,093,982
Tennessee Energy Acquisition Corp.; Series 2006 C, RB		5.00%		02/01/2027		5,665	5,793,727
							25,081,072
Texas–6.35%
Alamo Community College District; Series 2007, GO Bonds (INS - NATL)(d)		4.50%		08/15/2033		5	5,006
Aldine Independent School District; Series 2017, Ref. GO Bonds (CEP - Texas Permanent School Fund)		5.00%		02/15/2042		10,700	11,283,473
Arlington Higher Education Finance Corp. (UME Preparatory Academy); Series 2017 A, RB		5.00%		08/15/2038		885	835,236
Arlington Higher Education Finance Corp. (Winfree Academy Charter School); Series 2019, Ref. RB		5.75%		08/15/2043		1,400	1,370,037
Aubrey Independent School District; Series 2022, GO Bonds (CEP - Texas Permanent School Fund)		4.00%		02/15/2052		5,000	4,814,784
Dallas (County of), TX Flood Control District No. 1; Series 2015, Ref. GO Bonds(f)		5.00%		04/01/2032		1,100	1,092,733
El Paso (City of), TX; Series 2022 A, RB		4.00%		03/01/2048		11,500	11,185,444
Forney Independent School District; Series 2022 B, GO Bonds (CEP - Texas Permanent School Fund)		4.00%		08/15/2047		5,665	5,602,276
Grand Parkway Transportation Corp.; Series 2020, Ref. RB		4.00%		10/01/2045		15,000	14,027,160
Houston (City of), TX; Series 2020 C, Ref. RB		4.00%		11/15/2043		10,000	9,678,898
Houston (City of), TX Port Authority; Series 2021, RB		4.00%		10/01/2046		5,365	5,143,299
Humble Independent School District; Series 2022, GO Bonds (CEP - Texas Permanent School Fund)		4.00%		02/15/2052		10,750	10,539,602
Lancaster Independent School District; Series 2015 A, GO Bonds (CEP - Texas Permanent School Fund)		4.00%		02/15/2045		25	25,074
Lower Colorado River Authority (LCRA Transmission Services Corp.); Series 2022, Ref. RB		6.00%		05/15/2052		3,235	3,727,517
Montgomery (County of), TX Toll Road Authority;
Series 2018, RB		5.00%		09/15/2043		2,000	2,010,540
Series 2018, RB		5.00%		09/15/2048		2,500	2,505,865
New Hope Cultural Education Facilities Finance Corp.;
Series 2013 A, RB(a)(b)		5.88%		04/01/2023		555	560,964
Series 2013 A, RB(a)(b)		6.00%		04/01/2023		780	788,648
Series 2016 A, RB(a)(b)		5.00%		04/01/2026		1,000	1,067,039
Series 2016 A, RB(a)(b)		5.00%		04/01/2026		355	379,382
Series 2016 A-1, RB(e)		5.00%		07/01/2031		140	98,000
Series 2018 A-1, RB (INS - AGM)(d)		5.00%		07/01/2048		250	251,657
Series 2018 A-1, RB (INS - AGM)(d)		5.00%		07/01/2058		850	853,571
Series 2019, RB(f)		5.00%		08/15/2039		425	404,616
Series 2019, RB(f)		5.00%		08/15/2049		150	135,673
New Hope Cultural Education Facilities Finance Corp. (Cardinal Bay, Inc.);
Series 2016, RB(e)		5.00%		07/02/2046		700	490,000
Series 2016, RB(e)		5.00%		07/03/2051		600	420,000
North Texas Tollway Authority; Series 2017 B, Ref. RB (INS - BAM)(d)		5.00%		01/01/2043		10,000	10,494,504
Northwest Independent School District; Series 2015, GO Bonds(a)(b)		5.00%		02/15/2025		10,000	10,511,824
Tender Option Bond Trust Receipts/Certificates; Series 2022, VRD GO Bonds (CEP - Texas Permanent School Fund)(f)(k)		1.87%		08/15/2052		3,040	3,040,000
Texas (State of) Water Development Board; Series 2022, RB		5.00%		10/15/2047		16,350	18,095,804
Texas Municipal Gas Acquisition & Supply Corp. III; Series 2021, Ref. RB		5.00%		12/15/2032		7,500	7,857,030
Texas Private Activity Bond Surface Transportation Corp. (NTE Mobility Partners LLC - North Tarrant Express Managed Lanes); Series 2019 A, Ref. RB		4.00%		12/31/2038		6,135	5,634,226
							144,929,882
Utah–0.08%
Utah (State of) Charter School Finance Authority; Series 2018, RB		5.00%		10/15/2038		720	744,122
Utah (State of) Charter School Finance Authority (Merit Preparatory Academy); Series 2019 A, RB(f)		5.38%		06/15/2049		1,110	991,490
							1,735,612

See accompanying notes which are an integral part of this schedule.

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate		Maturity Date		Principal Amount (000)		Value
Virgin Islands–0.06%
Virgin Islands (Government of) Public Finance Authority (Virgin Islands Gross Receipts Taxes Loan Note); Series 2012 A, Ref. RB (INS - AGM)(d)		5.00%		10/01/2032		$    1,480	$       1,480,775
Virginia–0.44%
Celebrate North Community Development Authority; Series 2003 B, RB(e)		6.75%		03/01/2034		303	196,950
Chesapeake Bay Bridge & Tunnel District; Series 2016, RB (INS - AGM)(d)		5.00%		07/01/2041		8,950	9,214,637
Virginia Beach Development Authority (Westminster-Canterbury on Chesapeake Bay); Series 2018, Ref. RB		5.00%		09/01/2036		715	686,767
							10,098,354
Washington–0.58%
Central Puget Sound Regional Transit Authority (Green Bonds); Series 2016 S-1, RB		5.00%		11/01/2046		1	0
Cowlitz County School District No. 458; Series 2019, GO Bonds (CEP - Oregon School Bond Guaranty)		4.00%		12/01/2038		1,680	1,704,144
Kelso (City of), WA Housing Authority; Series 1998, RB		5.60%		03/01/2028		50	49,999
Tacoma (City of), WA Consolidated Local Improvement Districts; Series 2013, RB		5.75%		04/01/2043		1,461	1,378,472
Washington (State of); Series 2021 A, Ref. GO Bonds		5.00%		06/01/2039		2,750	3,040,478
Washington (State of) Health Care Facilities Authority (Virginia Mason Medical Center); Series 2017, Ref. RB		5.00%		08/15/2031		2,250	2,354,013
Washington (State of) Housing Finance Commission (Social Certificates); Series 2021-1A, Revenue Ctfs.		3.50%		12/20/2035		5,215	4,678,049
							13,205,155
Wisconsin–1.70%
Wisconsin (State of) Center District;
Series 2013 A, Ref. RB(a)(b)		5.00%		12/15/2022		1,475	1,476,315
Series 2020 D, RB (INS - AGM)(d)(h)		0.00%		12/15/2055		23,575	4,801,037
Wisconsin (State of) Health & Educational Facilities Authority; Series 2018 XF2541, Revenue Ctfs.(i)		4.00%		11/15/2034		20,000	20,186,118
Wisconsin (State of) Health & Educational Facilities Authority (Froedtert Health); Series 2022 A, Ref. RB		4.00%		04/01/2042		7,160	6,871,216
Wisconsin (State of) Public Finance Authority (Beyond Boone, LLC - Appalachian State University);
Series 2019 A, RB (INS - AGM)(d)		5.00%		07/01/2036		900	936,916
Series 2019 A, RB (INS - AGM)(d)		5.00%		07/01/2054		1,275	1,284,481
Series 2019 A, RB (INS - AGM)(d)		5.00%		07/01/2058		1,400	1,410,410
Wisconsin (State of) Public Finance Authority (Explore Knowledge Foundation);
Series 2012 A, RB		5.75%		07/15/2032		345	345,213
Series 2012 A, RB		6.00%		07/15/2042		350	350,164
Wisconsin (State of) Public Finance Authority (North Carolina Leadership Academy); Series 2019, RB(f)		5.00%		06/15/2039		310	292,337
Wisconsin (State of) Public Finance Authority (Traders Point Christian Schools);
Series 2019 A, RB(f)		5.38%		06/01/2044		435	389,374
Series 2019 A, RB(f)		5.50%		06/01/2054		540	473,190
							38,816,771
TOTAL INVESTMENTS IN SECURITIES(n)–100.98% (Cost $2,403,159,791)							2,305,723,227
FLOATING RATE NOTE OBLIGATIONS–(2.59)%
Notes with interest and fee rates ranging from 2.45% to 2.50% at 11/30/2022 and contractual maturities of collateral ranging from 10/01/2032 to 06/01/2043(o)							(59,045,000)
OTHER ASSETS LESS LIABILITIES–1.61%							36,728,251
NET ASSETS–100.00%							$2,283,406,478

See accompanying notes which are an integral part of this schedule.

                             Invesco AMT-Free Municipal Income Fund

Investment Abbreviations:

ACA	– ACA Financial Guaranty Corp.
AGC	– Assured Guaranty Corp.
AGM	– Assured Guaranty Municipal Corp.
AMBAC	– American Municipal Bond Assurance Corp.
BAM	– Build America Mutual Assurance Co.
CEP	– Credit Enhancement Provider
Ctfs.	– Certificates
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.
RB	– Revenue Bonds
Ref.	– Refunding
RN	– Revenue Notes
VRD	– Variable Rate Demand
Wts.	– Warrants

Notes to Schedule of Investments:

^(a)  Advance refunded; secured by an escrow fund of U.S. Government obligations or other highly rated collateral.

^(b)  Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put.

^(c) Convertible capital appreciation bond. The interest rate shown represents the coupon rate at which the bond will accrue at a specified future date.

^(d) Principal and/or interest payments are secured by the bond insurance company listed.

^(e)  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, 2022 was $27,991,207, which represented 1.23% of the Fund’s Net Assets.

^(f)  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, 2022 was $57,195,987, which represented 2.50% of the Fund’s Net Assets.

^(g)  Security valued using significant unobservable inputs (Level 3). See Note 1.

^(h)  Zero coupon bond issued at a discount.

⁽ⁱ⁾  Underlying security related to TOB Trusts entered into by the Fund.

^(j) Restricted security. The aggregate value of these securities at November 30, 2022 was $20,455,000, which represented less than 1% of the Fund’s Net Assets.

^(k)  Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on November 30, 2022.

^(l) The issuer is paying less than stated interest, but is not in default on principal because scheduled principal payments have not yet begun.

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

⁽ⁿ⁾  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.		5.87	%

^(o)  Floating rate note obligations related to securities held. The interest and fee rates shown reflect the rates in effect at November 30, 2022. At November 30, 2022, the Fund’s investments with a value of $107,273,398 are held by TOB Trusts and serve as collateral for the $59,045,000 in the floating rate note obligations outstanding at that date.

	Open Futures Contracts(a)
Short Futures Contracts	Number of Contracts		Expiration Month		Notional Value			Value			Unrealized Appreciation (Depreciation)
Interest Rate Risk
U.S. Treasury 10 Year Notes		1,402		March-2023	$	(159,127,000	)	$	(766,719	)		$(766,719)

^(a)  Futures contracts collateralized by $3,195,800 cash held with Goldman Sachs International, the futures commission merchant.

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 AMT-Free Municipal Income Fund

Notes to Quarterly Schedule of Portfolio Holdings

November 30, 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 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, 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	$	–		$	2,287,694,189	$	18,029,038	$	2,305,723,227
Other Investments - Assets*
Investments Matured		–			3,182,985		1,138,680		4,321,665
Other Investments - Liabilities
Futures Contracts		(766,719	)		–		–		(766,719	)
Total Investments	$	(766,719	)	$	2,290,877,174	$	19,167,718	$	2,309,278,173

* Futures contracts are valued at unrealized appreciation (depreciation). Investments matured are shown at value.

                             Invesco AMT-Free Municipal Income Fund