Aim Tax Exempt Funds NPORT-P Invesco AMT-Free Municipal Income Fund (May 2024 report)

Schedule of Investments

May 31, 2024

(Unaudited)

	Interest Rate		Maturity Date		Principal Amount (000)		Value
Municipal Obligations–101.77%
Alabama–3.35%
Birmingham (City of), AL Private Educational Building Authority (Birmingham-Southern College); Series 1996, RB		6.13%		12/01/2025	$	195	$     58,500
Birmingham (City of), AL Water Works Board; Series 2016 B, Ref. RB(a)(b)		5.00%		01/01/2027		16,150	16,833,513
Black Belt Energy Gas District (The);
Series 2022 C-1, RB(b)		5.25%		06/01/2029		10,000	10,448,364
Series 2024 A, RB(b)		5.25%		09/01/2032		2,805	3,011,391
Energy Southeast A Cooperative District; Series 2024 B, RB(b)		5.25%		06/01/2032		4,500	4,781,631
Fort Deposit (Town of), AL Cooperative District; Series 2003, RB		6.00%		02/01/2036		155	146,826
Homewood (City of), AL Educational Building Authority (Samford University); Series 2017 A, Ref. RB		5.00%		12/01/2047		4,500	4,487,649
Jefferson (County of), AL;
Series 2017, Ref. Revenue Wts.		5.00%		09/15/2035		4,500	4,642,049
Series 2024, Ref. Revenue Wts.		5.25%		10/01/2049		9,000	9,568,473
Series 2024, Ref. Revenue Wts.		5.50%		10/01/2053		5,000	5,395,274
Lower Alabama Gas District (The); Series 2016 A, RB		5.00%		09/01/2046		5,000	5,138,791
Mobile (City of), AL Improvement District (McGowin Park); Series 2016 A, RB		5.25%		08/01/2030		200	188,942
Southeast Alabama Gas Supply District (The) (No. 2); Series 2024 B, Ref. RB(b)		5.00%		05/01/2032		10,000	10,513,791
Southeast Energy Authority A Cooperative District (No. 4); Series 2022 B-1, RB(b)		5.00%		08/01/2028		2,000	2,063,930
Southeast Energy Authority, a Cooperative District (No. 3); Series 2022 A-1, RB(b)		5.50%		12/01/2029		4,105	4,352,126
							81,631,250
Alaska–0.00%
Alaska (State of) Industrial Development & Export Authority (Boys & Girls Home & Family Services, Inc.); Series 2007 C, RB(c)		5.88%		12/01/2027		600	8,034
Arizona–2.08%
Arizona (State of) Industrial Development Authority (Academies of Math & Science);
Series 2017 A, Ref. RB (CEP - Ohio School District)		5.00%		07/01/2042		675	679,449
Series 2017 A, Ref. RB (CEP - Ohio School District)		5.00%		07/01/2047		925	926,393
Series 2017 A, Ref. RB (CEP - Ohio School District)		5.00%		07/01/2051		1,000	995,863
Series 2018 A, Ref. RB (CEP - Ohio School District)		5.00%		07/01/2038		500	507,282
Series 2018 A, Ref. RB (CEP - Ohio School District)		5.00%		07/01/2048		1,800	1,801,169
Series 2018 A, Ref. RB (CEP - Ohio School District)		5.00%		07/01/2052		2,125	2,110,354
Arizona (State of) Industrial Development Authority (Provident Group - Eastern Michigan University Parking);
Series 2018, RB(d)		5.00%		05/01/2048		1,100	605,000
Series 2018, RB(d)		5.00%		05/01/2051		1,000	550,000
Arizona (State of) Industrial Development Authority (Provident Group-NCCU Properties LLC); Series 2019 A, RB (INS - BAM)(e)		5.00%		06/01/2058		570	580,818
Arizona (State of) Industrial Development Authority (Social Bonds); Series 2020 A, RB		4.00%		11/01/2050		2,100	1,884,715
Chandler (City of), AZ Industrial Development Authority (Intel Corp.); Series 2005, RB(b)		3.80%		06/15/2028		5,000	4,963,645
Festival Ranch Community Facilities District (Assessment Districts Nos. 4 & 5); Series 2007, RB		5.75%		07/01/2032		267	253,818
Maricopa (County of), AZ Industrial Development Authority (GreatHearts Arizona);
Series 2017 C, RB (CEP - Ohio School District)		5.00%		07/01/2037		80	81,528
Series 2017 C, RB (CEP - Ohio School District)		5.00%		07/01/2048		145	145,738
Maricopa (County of), AZ Industrial Development Authority (Legacy Traditional Schools); Series 2019, Ref. RB(f)		5.00%		07/01/2049		1,400	1,342,038
Merrill Ranch Community Facilities District No. 1 (Assessment Area One); Series 2006, RB		5.30%		07/01/2030		167	165,491
Phoenix (City of), AZ Industrial Development Authority (Espiritu Community Development Corp. Charter School); Series 2006 A, RB		6.25%		07/01/2036		390	374,974
Phoenix (City of), AZ Industrial Development Authority (Great Hearts Academies); Series 2016 A, Ref. RB		5.00%		07/01/2041		1,200	1,202,459
Phoenix Civic Improvement Corp.; Series 2019, RB		4.00%		07/01/2044		6,855	6,605,289
Pima (County of), AZ Industrial Development Authority (Arizona Charter Schools); Series 2013 Q, Ref. RB		5.38%		07/01/2031		1,575	1,562,601

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 (Christian Care Tuscon, Inc.);
Series 2017 A, Ref. RB(a)(b)		5.00%		06/15/2025	$	550	$  564,328
Series 2017 C, RB(a)(b)		5.00%		06/15/2025		1,010	1,036,312
Pima (County of), AZ Industrial Development Authority (Excalibur Charter School (The)); Series 2016, Ref. RB(f)		5.50%		09/01/2046		900	836,706
Pima (County of), AZ Industrial Development Authority (Paideia Academies (The));
Series 2019, RB		5.13%		07/01/2039		195	186,216
Series 2019, RB		5.25%		07/01/2049		240	220,875
Pima (County of), AZ Industrial Development Authority (Tuscon Country Day School); Series 2007, Ref. RB		5.00%		06/01/2037		685	607,894
Salt River Project Agricultural Improvement & Power District; Series 2023 B, RB		5.25%		01/01/2053		15,220	16,601,853
Salt Verde Financial Corp.;
Series 2007, RB		5.50%		12/01/2029		100	105,079
Series 2007, RB		5.00%		12/01/2032		3,000	3,120,929
							50,618,816
Arkansas–0.14%
Arkansas (State of) Development Finance Authority (Baptist Memorial Health); Series 2020, Ref. RB		5.00%		09/01/2044		2,000	1,901,627
Cave Springs Municipal Property Owners’ Improvement District No. 3; Series 2007, GO Bonds(g)		6.25%		02/01/2038		1,480	1,480,000
							3,381,627
California–10.59%
Bay Area Toll Authority (San Francisco Bay Area); Series 2019 S-8, Ref. RB(a)(b)		5.00%		10/01/2029		5,000	5,490,744
California (State of);
Series 2016, Ref. GO Bonds		5.00%		09/01/2037		10,085	10,392,064
Series 2018, GO Bonds		5.00%		10/01/2047		13,500	13,759,948
Series 2020, GO Bonds		4.00%		03/01/2050		2,600	2,546,587
Series 2021, Ref. GO Bonds		5.00%		10/01/2041		1,500	1,627,097
Series 2022, GO Bonds		4.00%		04/01/2049		1,325	1,303,275
California (State of) Community Choice Financing Authority (Clean Energy); Series 2024, RB(b)		5.00%		04/01/2032		10,000	10,595,618
California (State of) Community Choice Financing Authority (Green Bonds);
Series 2023 C, RB(b)		5.25%		10/01/2031		3,250	3,398,447
Series 2023, RB(b)		5.00%		08/01/2029		5,000	5,232,119
California (State of) County Tobacco Securitization Agency; Series 2006 B, RB(h)		0.00%		06/01/2050		129,820	23,173,233
California (State of) County Tobacco Securitization Agency (Alameda County Tobacco Asset Securitization Corp.); Series 2002, RB		5.88%		06/01/2035		10	10,000
California (State of) County Tobacco Securitization Agency (Fresno County Tobacco Funding Corp.);
Series 2006 A, RB(h)		0.00%		06/01/2046		7,000	1,714,903
Series 2006 B, RB(h)		0.00%		06/01/2046		6,000	1,423,319
California (State of) County Tobacco Securitization Agency (Stanislaus County Tobacco Funding Corp.); Series 2002 A, RB		5.88%		06/01/2043		1,820	1,830,269
California (State of) Health Facilities Financing Authority (Cedars-Sinai Health System); Series 2021, Ref. RB		5.00%		08/15/2051		10,000	10,647,124
California (State of) Health Facilities Financing Authority (Commonspirit Health); Series 2020 A, Ref. RB		4.00%		04/01/2049		1,500	1,400,297
California (State of) Health Facilities Financing Authority (Sutter Health);
Series 2016 B, Ref. RB(a)(b)		5.00%		11/15/2026		4,080	4,237,199
Series 2016 B, Ref. RB		5.00%		11/15/2046		5,920	6,030,567
California (State of) Housing Finance Agency; Series 2019 A-2, RB		4.00%		03/20/2033		6,965	6,847,952
California (State of) Housing Finance Agency (Social Certificates); Series 2023-1, RB		4.38%		09/20/2036		3,477	3,437,730
California (State of) Municipal Finance Authority (CHF-Davis I, LLC - West Village Student Housing); Series 2018, RB (INS - BAM)(e)		5.00%		05/15/2043		4,250	4,377,751
California (State of) Statewide Communities Development Authority (Community Facilities District No. 2007-01); Series 2015, Ref. RB		5.00%		09/01/2030		810	819,485
Cathedral (City of), CA Redevelopment Agency Successor Agency (Merged Redevelopment);
Series 2014 A, Ref. RB (INS - AGM)(e)		5.00%		08/01/2032		1,450	1,451,687
Series 2014 A, Ref. RB (INS - AGM)(e)		5.00%		08/01/2033		885	885,991
Golden State Tobacco Securitization Corp.; Series 2017 A-1, Ref. RB(a)(b)		5.00%		06/01/2027		170	178,935
Grossmont-Cuyamaca Community College District (Election of 2012); Series 2018 B, GO Bonds		4.00%		08/01/2047		3,165	3,132,249
Inland Empire Tobacco Securitization Corp.; Series 2007 F, RB(f)(h)		0.00%		06/01/2057		345,750	20,885,202
Long Beach (City of), CA Bond Finance Authority; Series 2007 A, RB		5.50%		11/15/2037		2,000	2,219,047

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)
Los Angeles (City of), CA Department of Water & Power;
Series 2017 A, RB		5.00%		07/01/2042	$	5,000	$  5,160,095
Series 2022, RB(i)		5.00%		07/01/2042		25,000	27,413,975
Los Angeles Unified School District (Sustainability Bonds); Series 2022 QRR, GO Bonds		5.25%		07/01/2047		5,000	5,511,694
M-S-R Energy Authority;
Series 2009 B, RB		7.00%		11/01/2034		10,000	12,050,217
Series 2009 B, RB		6.50%		11/01/2039		9,820	12,155,032
Oak Grove School District (Election of 2008); Series 2018 E, Ref. GO Bonds(j)		5.00%		08/01/2042		4,500	2,598,255
Oxnard (City of), CA Financing Authority;
Series 2014, Ref. RB (INS - AGM)(e)		5.00%		06/01/2032		1,250	1,250,690
Series 2014, Ref. RB (INS - AGM)(e)		5.00%		06/01/2033		1,500	1,500,816
Series 2014, Ref. RB (INS - AGM)(e)		5.00%		06/01/2034		850	850,442
Poway Unified School District Public Financing Authority;
Series 2015 B, Ref. RB (INS - BAM)(e)		5.00%		09/01/2033		1,725	1,753,627
Series 2015 B, Ref. RB (INS - BAM)(e)		5.00%		09/01/2034		3,075	3,126,402
Sacramento (City of), CA Municipal Utility District (Green Bonds);
Series 2024 M, RB		5.00%		11/15/2049		4,200	4,626,827
Series 2024 M, RB		5.00%		11/15/2054		2,100	2,296,084
San Diego (County of), CA Regional Airport Authority;
Series 2019 A, Ref. RB		5.00%		07/01/2044		5,000	5,267,046
Series 2021 A, RB (INS - AGM)(e)		5.00%		07/01/2051		15,000	15,927,756
Santa Cruz (County of), CA Redevelopment Successor Agency; Series 2015 A, Ref. RB (INS - AGM)(e)		5.00%		09/01/2035		1,880	1,913,706
Transbay Joint Powers Authority (Green Bonds);
Series 2020 A, RB		5.00%		10/01/2045		1,000	1,009,451
Series 2020 A, RB		5.00%		10/01/2049		1,000	1,003,156
Twin Rivers Unified School District; Series 2020, GO Bonds (INS - AGM)(e)(h)		0.00%		08/01/2044		8,990	3,340,835
							257,804,945
Colorado–3.81%
Aurora (City of), CO (Pipeline/Interceptor); Series 2023, RB		4.00%		08/01/2053		13,285	12,241,583
BNC Metropolitan District No. 1; Series 2017 A, Ref. GO Bonds (INS - BAM)(e)		5.00%		12/01/2037		550	565,290
Colorado (State of) Educational & Cultural Facilities Authority (Stargate Charter School); Series 2018 A, Ref. RB		5.00%		12/01/2038		1,000	1,023,781
Colorado (State of) Health Facilities Authority (Adventhealth Obligated Group); Series 2019 A, Ref. RB		4.00%		11/15/2043		2,000	1,925,223
Colorado (State of) Health Facilities Authority (Christian Living Neighborhoods); Series 2016, Ref. RB		5.00%		01/01/2031		1,400	1,407,531
Colorado (State of) Health Facilities Authority (CommonSpirit Health);
Series 2022, RB		5.25%		11/01/2052		7,500	7,928,036
Series 2024 A, Ref. RB		5.25%		12/01/2054		8,415	9,002,019
Denver (City & County of), CO;
Series 2018 B, Ref. RB		5.00%		12/01/2048		12,500	12,808,587
Series 2022 B, RB		5.25%		11/15/2053		10,000	10,788,825
Series 2022 C, Ref. RB		5.25%		11/15/2053		6,120	6,602,761
E-470 Public Highway Authority; Series 1997 B, RB (INS - NATL)(e)(h)		0.00%		09/01/2025		125	119,252
Ebert Metropolitan District; Series 2018 A-2, GO Bonds (INS - BAM)(e)		5.00%		12/01/2043		1,605	1,664,643
Hunters Overlook Metropolitan District No. 5;
Series 2019 A, GO Bonds		5.00%		12/01/2039		874	832,780
Series 2019 A, GO Bonds		5.00%		12/01/2049		1,360	1,238,299
Hunting Hill Metropolitan District; Series 2018, Ref. GO Bonds		5.63%		12/01/2048		2,071	2,023,337
Public Authority for Colorado Energy;
Series 2008, RB		6.25%		11/15/2028		1,495	1,561,149
Series 2008, RB		6.50%		11/15/2038		1,920	2,300,111
Rampart Range Metropolitan District No. 1; Series 2017, Ref. RB (INS - AGM)(e)		5.00%		12/01/2047		6,165	6,228,442
Tender Option Bond Trust Receipts/Certificates;
Series 2022, VRD RB(f)(k)		3.51%		05/01/2038		5,000	5,000,000
Series 2022, VRD RB(f)(k)		3.51%		05/01/2046		6,000	6,000,000
Vauxmont Metropolitan District; Series 2020, Ref. GO Bonds (INS - AGM)(e)		5.00%		12/01/2050		1,500	1,541,372
							92,803,021

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
Connecticut–0.81%
Connecticut (State of) Health & Educational Facilities Authority (Fairfield University); Series 2017 R, Ref. RB		4.00%		07/01/2047	$	6,125	$  5,774,355
Connecticut (State of) Health & Educational Facilities Authority (Nuvance Health); Series 2019 A, Ref. RB		4.00%		07/01/2049		12,430	10,623,467
Georgetown (City of), CT Special Taxing District; Series 2006 A, GO Bonds(c)(g)		5.13%		10/01/2036		500	60,000
Hamden (Town of), CT; Series 2018 A, Ref. GO Bonds (INS - BAM)(e)		5.00%		08/15/2030		625	653,167
Mashantucket Western Pequot Tribe; Series 2013, RB(c)		6.05%		07/01/2031		11,260	2,505,364
							19,616,353
District of Columbia–3.00%
District of Columbia;
Series 2020 A, RB		4.00%		03/01/2045		4,335	4,242,817
Series 2023 A, RB		5.25%		05/01/2048		5,245	5,736,856
District of Columbia Tobacco Settlement Financing Corp.;
Series 2001, RB		6.75%		05/15/2040		3,675	3,793,411
Series 2006 B, RB(h)		0.00%		06/15/2046		72,125	14,796,263
Metropolitan Washington Airports Authority (Dulles Metrorail and Capital Improvement);
Series 2019 A, Ref. RB		5.00%		10/01/2044		5,000	5,144,889
Series 2019 B, Ref. RB		4.00%		10/01/2049		10,000	9,141,431
Washington (State of) Metropolitan Area Transit Authority; Series 2020 A, RB		4.00%		07/15/2045		25,600	24,630,502
Washington Metropolitan Area Transit Authority (Green Bonds); Series 2023 A, RB		5.25%		07/15/2053		5,000	5,451,729
							72,937,898
Florida–6.44%
Alachua (County of), FL Health Facilities Authority (Shands Teaching Hospital & Clinics, Inc.); Series 2019, Ref. RB		5.00%		12/01/2037		2,580	2,689,951
Amelia Concourse Community Development District; Series 2007, RB		5.75%		05/01/2038		290	278,979
Arlington Ridge Community Development District; Series 2006 A, RB		5.50%		05/01/2036		120	120,058
Broward (County of), FL; Series 2022 A, RB		4.00%		10/01/2047		5,005	4,823,326
Broward (County of), FL (Convention Center Expansion); Series 2021, RB		4.00%		09/01/2047		17,250	16,290,481
Broward (County of), FL School Board; Series 2022, GO Bonds		5.00%		07/01/2051		10,000	10,650,345
Canaveral Port Authority; Series 2018 B, RB		5.00%		06/01/2048		5,000	5,047,033
Capital Trust Agency, Inc. (Advantage Academy of Hillsborough);
Series 2019 A, RB		5.00%		12/15/2049		455	417,237
Series 2019 A, RB		5.00%		12/15/2054		320	289,439
Capital Trust Agency, Inc. (Florida Charter Educational Foundation, Inc.);
Series 2018 A, RB(f)		5.38%		06/15/2038		255	251,660
Series 2018 A, RB(f)		5.38%		06/15/2048		480	451,351
Chapel Creek Community Development District; Series 2006 A, RB(c)(g)		5.50%		05/01/2038		1,175	787,250
Clearwater Cay Community Development District; Series 2006 A, RB (Acquired 02/16/2010; Cost $539,852)(c)(g)(l)		5.50%		05/01/2037		826	470,787
Creekside Community Development District; Series 2006, RB(c)(g)		5.20%		05/01/2038		2,280	1,071,600
Davie (Town of), FL (Nova Southeastern University); Series 2018, Ref. RB		5.00%		04/01/2048		5,000	5,093,190
Highland Meadows Community Development District; Series 2006 A, RB		5.50%		05/01/2036		75	75,041
Indigo Community Development District; Series 2005, RB(g)		5.75%		05/01/2036		218	191,809
Jacksonville (City of), FL Health Facilities Authority; Series 1997 B, RB(a)		5.25%		08/15/2027		15	15,067
JEA Water & Sewer System; Series 2024 A, Ref. RB		5.50%		10/01/2054		10,000	11,099,563
Lake (County of), FL (Imagine South Lake Charter School Program); Series 2019, RB(f)		5.00%		01/15/2054		190	170,076
Lake Helen (City of), FL (Ivy Hawn Charter School of the Arts);
Series 2018 A, RB(f)		5.50%		07/15/2048		565	518,105
Series 2018 A, RB(f)		5.75%		07/15/2053		600	578,626
Lakeland (City of), FL (Lakeland Regional Health); Series 2015, RB		5.00%		11/15/2040		5,000	5,011,974
Lucaya Community Development District; Series 2005, RB		5.38%		05/01/2035		965	965,549
Magnolia Creek Community Development District; Series 2007 A, RB(c)		5.90%		05/01/2039		195	180,335
Magnolia West Community Development District; Series 2017, RB		5.35%		05/01/2037		65	65,418
Manatee (County of), FL; Series 2023, Ref. RB		4.00%		10/01/2048		5,000	4,762,022

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)
Miami-Dade (County of), FL;
Series 2009, RB (INS - BAM)(e)(h)		0.00%		10/01/2042	$	6,925	$  3,005,857
Series 2019 B, RB		4.00%		10/01/2049		17,745	16,717,444
Series 2021, RB		4.00%		10/01/2051		5,000	4,678,214
Series 2024 A, RB		5.25%		10/01/2054		6,870	7,468,245
Miami-Dade (County of), FL Transit System;
Series 2020 A, RB		4.00%		07/01/2048		12,185	11,394,854
Series 2020 A, RB		4.00%		07/01/2050		5,000	4,631,933
Miromar Lakes Community Development District; Series 2015, Ref. RB		5.00%		05/01/2035		1,195	1,198,541
Naturewalk Community Development District; Series 2007 A, RB(c)(g)		5.50%		05/01/2038		335	127,300
Orange (County of), FL Health Facilities Authority (Orlando Health Obligated Group); Series 2022, RB		4.00%		10/01/2052		10,000	9,321,738
Orlando (City of), FL Utilities Commission; Series 2018 A, RB		5.00%		10/01/2038		3,000	3,098,438
Osceola (County of), FL; Series 2020 A-1, Ref. RB		5.00%		10/01/2049		2,055	2,094,682
Palace Coral Gables Community Development District;
Series 2011, RB		5.00%		05/01/2032		350	350,134
Series 2011, RB		5.63%		05/01/2042		1,000	1,000,397
Reunion East Community Development District;
Series 2002 A-2, RB(c)(g)		7.38%		05/01/2033		860	9
Series 2005, RB(c)(g)		5.80%		05/01/2036		810	8
Ridgewood Trails Community Development District; Series 2007 A, RB		5.65%		05/01/2038		15	15,009
South Bay Community Development District;
Series 2005 A, RB(c)(g)		5.95%		05/01/2036		1,645	16
Series 2005 A-1, Ref. RB		5.95%		05/01/2036		1,535	1,538,598
Series 2005 A-2, Ref. RB(c)(g)		6.60%		05/01/2036		1,095	547,500
Series 2005 B-2, Ref. RB(c)(g)		6.60%		05/01/2025		935	467,501
Tampa (City of), FL;
Series 2020 A, RB(h)		0.00%		09/01/2033		210	139,842
Series 2020 A, RB(h)		0.00%		09/01/2034		880	560,640
Series 2020 A, RB(h)		0.00%		09/01/2035		750	456,699
Series 2020 A, RB(h)		0.00%		09/01/2036		850	492,510
Series 2020 A, RB(h)		0.00%		09/01/2037		825	452,668
Series 2020 A, RB(h)		0.00%		09/01/2038		1,050	544,454
Series 2020 A, RB(h)		0.00%		09/01/2039		1,000	491,512
Villages of Avignon Community Development District (The); Series 2007 A, RB(c)(g)		5.40%		05/01/2037		250	12,500
Vista Community Development District; Series 2006 A, RB		5.38%		05/01/2037		3,230	3,231,218
Waterford Estates Community Development District; Series 2006 A, RB		5.50%		05/01/2037		1,595	1,599,353
Waterstone Community Development District;
Series 2007 A, RB(g)(j)		6.88%		05/01/2037		146	98,588
Series 2007 B, RB(g)(h)		0.00%		11/01/2028		693	491,467
West Villages Improvement District (Develepmont Unit No. 2);
Series 2005 A-1, RB		5.75%		05/01/2036		2,625	2,627,321
Series 2005 A-2, RB(c)(g)		5.75%		05/01/2036		2,925	1,696,500
Westridge Community Development District; Series 2005, RB		5.80%		05/01/2037		365	365,177
Westside Community Development District; Series 2019-2, RB(g)		5.65%		05/01/2037		525	427,307
Wildwood (City of), FL Village Community Development Disctrict No. 15;
Series 2023, RB(f)		5.00%		05/01/2043		1,500	1,521,241
Series 2023, RB(f)		5.25%		05/01/2054		1,000	1,020,896
Zephyr Ridge Community Development District; Series 2006 A, RB (Acquired 06/29/2009; Cost $973,791)(c)(g)(l)		5.63%		05/01/2037		979	489,330
							156,741,913
Georgia–2.86%
Atlanta (City of), GA Department of Aviation (Green Bonds); Series 2023 B-1, RB		5.00%		07/01/2053		6,750	7,167,438
Atlanta (City of), GA Urban Residential Finance Authority (Trestletree Village Apartments); Series 2013 A, RB		5.00%		11/01/2048		490	360,200
Brookhaven (City of), GA Urban Redevelopment Agency; Series 2023 A, RB		4.00%		07/01/2053		5,000	4,789,032
Columbia (City of), GA (Wellstar Health System, Inc.); Series 2023, RAC		5.13%		04/01/2048		5,500	5,799,824

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–(continued)
Floyd (County of), GA Development Authority (The Spires at Berry College);
Series 2018 A, RB		5.75%		12/01/2033	$	1,155	$  1,149,161
Series 2018 A, RB		6.00%		12/01/2038		2,260	2,240,589
Series 2018 A, RB		6.25%		12/01/2048		5,565	5,455,679
Series 2018 A, RB		6.50%		12/01/2053		3,205	3,205,118
Fulton (County of), GA Development Authority (Piedmont Healthcare, Inc.);
Series 2016 A, Ref. RB		5.00%		07/01/2046		3,000	3,019,953
Series 2019, RB		4.00%		07/01/2049		11,150	10,274,423
Main Street Natural Gas, Inc.;
Series 2019 A, RB		5.00%		05/15/2043		1,040	1,046,269
Series 2023 B, RB(b)		5.00%		03/01/2030		5,000	5,255,595
Series 2023 C, RB(b)		5.00%		09/01/2030		5,000	5,252,787
Series 2024 A, RB(b)		5.00%		09/01/2031		5,435	5,748,820
Series 2024 B, RB(b)		5.00%		03/01/2032		5,000	5,305,707
Oconee (County of), GA Industrial Development Authority (Presbyterian Village Athens);
Series 2018 A-1, RB		6.13%		12/01/2038		880	850,114
Series 2018 A-1, RB		6.25%		12/01/2048		1,230	1,121,304
Series 2018 A-1, RB		6.38%		12/01/2053		1,030	940,606
Series 2018 A-2, RB(b)		5.50%		12/01/2028		690	643,626
							69,626,245
Guam–0.17%
Guam (Territory of); Series 2015 D, Ref. RB		5.00%		11/15/2039		2,500	2,512,282
Guam (Territory of) Waterworks Authority; Series 2020 A, RB		5.00%		01/01/2050		1,500	1,527,461
							4,039,743
Illinois–6.61%
Chicago (City of), IL; Series 2012, RB (INS - BAM)(e)		4.00%		01/01/2042		1,200	1,200,015
Chicago (City of), IL (O’Hare International Airport);
Series 2015 B, Ref. RB		5.00%		01/01/2034		2,500	2,512,522
Series 2017 D, RB		5.00%		01/01/2052		3,000	3,034,859
Series 2018 B, RB		5.00%		01/01/2053		10,500	10,765,236
Series 2020 A, Ref. RB		4.00%		01/01/2036		5,000	5,041,476
Chicago (City of), IL Board of Education;
Series 1998 B-1, GO Bonds (INS - NATL)(e)(h)		0.00%		12/01/2024		915	895,487
Series 1999 A, GO Bonds (INS - NATL)(e)(h)		0.00%		12/01/2024		1,405	1,375,038
Series 2015 C, GO Bonds		5.25%		12/01/2035		4,010	4,011,444
Series 2016, RB		6.00%		04/01/2046		4,300	4,501,707
Series 2018 A, Ref. GO Bonds (INS - AGM)(e)		5.00%		12/01/2026		775	791,179
Series 2018 A, Ref. GO Bonds (INS - AGM)(e)		5.00%		12/01/2028		2,250	2,324,685
Series 2018 A, Ref. GO Bonds (INS - AGM)(e)		5.00%		12/01/2031		1,000	1,036,043
Series 2018 A, Ref. GO Bonds (INS - AGM)(e)		5.00%		12/01/2034		1,205	1,248,094
Series 2022 A, GO Bonds		5.00%		12/01/2047		3,200	3,191,217
Chicago (City of), IL Transit Authority;
Series 2020 A, Ref. RB		5.00%		12/01/2045		20	20,352
Series 2020 A, Ref. RB		5.00%		12/01/2055		2,140	2,170,705
Cook (County of), IL; Series 2021 A, Ref. RB		4.00%		11/15/2041		3,500	3,333,765
Cook County Community School District No. 147; Series 2004 A, Ref. GO Bonds (INS - BAM)(e)		7.13%		06/01/2024		385	385,000
Du Page (County of), IL Special Service Area No. 31 (Monarch Landing, Inc.); Series 2006, RB		5.63%		03/01/2036		275	270,533
Gilberts (Village of), IL Special Service Area No. 24 (The Conservancy); Subseries 2014 A, RB		5.38%		03/01/2034		630	582,387
Harvey (City of), IL;
Series 2008, RB		6.88%		08/01/2028		2,310	2,099,789
Series 2023 A, GO Bonds		4.50%		01/01/2054		3,585	2,719,774

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	$  2,001,550
Series 2014, GO Bonds		5.00%		02/01/2039		1,525	1,525,961
Series 2017 C, GO Bonds		5.00%		11/01/2029		3,000	3,110,250
Series 2018 A, GO Bonds		5.00%		05/01/2036		2,610	2,716,812
Series 2018 A, Ref. GO Bonds		5.00%		10/01/2029		6,500	6,828,912
Series 2018 A, Ref. GO Bonds		5.00%		10/01/2032		3,000	3,153,080
Series 2018 A, Ref. GO Bonds		5.00%		10/01/2033		750	788,198
Series 2018 B, Ref. GO Bonds		5.00%		10/01/2029		5,000	5,253,009
Series 2020, GO Bonds		5.50%		05/01/2039		3,750	4,060,883
Series 2024 B, GO Bonds		5.25%		05/01/2045		3,000	3,233,001
Illinois (State of) Finance Authority (University of Illinois Health Services); Series 2020, RB		4.00%		10/01/2040		3,950	3,601,185
Illinois (State of) Regional Transportation Authority;
Series 2018 B, RB		4.00%		06/01/2043		1,365	1,274,566
Series 2018 XF2618, Revenue Ctfs.(i)		4.00%		06/01/2043		18,000	16,807,526
Illinois (State of) Sports Facilities Authority;
Series 2014, Ref. RB (INS - AGM)(e)		5.25%		06/15/2032		2,000	2,005,883
Series 2019, Ref. RB (INS - BAM)(e)		5.00%		06/15/2028		2,520	2,617,736
Series 2019, Ref. RB (INS - BAM)(e)		5.00%		06/15/2029		1,455	1,528,114
Series 2019, Ref. RB (INS - BAM)(e)		5.00%		06/15/2030		245	256,457
Illinois (State of) Toll Highway Authority;
Series 2020 A, RB		5.00%		01/01/2045		21,090	22,285,463
Series 2021 A, RB		4.00%		01/01/2046		7,785	7,363,259
Jefferson County Township High School District No. 201;
Series 2012 A, GO Bonds		6.50%		12/30/2027		895	975,938
Series 2012 A, GO Bonds		6.50%		12/30/2028		955	1,063,702
Series 2012 A, GO Bonds		6.50%		12/30/2031		1,160	1,359,975
Lincolnshire (Village of), IL (Sedgewick); Series 2004, RB		6.25%		03/01/2034		1,709	1,709,874
Northern Illinois Municipal Power Agency; Series 2016 A, Ref. RB		4.00%		12/01/2041		1,050	1,013,735
Plano (City of), IL Special Service Area No. 5 (Lakewood Springs Club); Series 2006, RB		6.00%		03/01/2036		337	318,630
Sales Tax Securitization Corp.; Series 2018 C, Ref. RB (INS - BAM)(e)		5.25%		01/01/2048		5,000	5,195,574
Southwestern Illinois Development Authority; Series 2006, RB(c)		5.63%		11/01/2026		890	667,500
Stephenson County School District No. 145 Freeport;
Series 2018 A, GO Bonds(a)(b)		5.00%		02/01/2028		210	219,496
Series 2018 A, GO Bonds(a)(b)		5.00%		02/01/2028		135	141,105
Series 2018 A, GO Bonds(a)(b)		5.00%		02/01/2028		160	167,235
Series 2018 A, GO Bonds(a)(b)		5.00%		02/01/2028		40	41,809
Series 2018 A, GO Bonds(a)(b)		5.00%		02/01/2028		30	31,357
Series 2018 A, GO Bonds(a)(b)		5.00%		02/01/2028		25	26,131
Series 2018 A, GO Bonds (INS - AGM)(e)		5.00%		02/01/2032		905	951,951
Series 2018 A, GO Bonds (INS - AGM)(e)		5.00%		02/01/2033		660	692,497
Series 2018 A, GO Bonds (INS - AGM)(e)		5.00%		02/01/2034		590	618,380
Yorkville (United City of), IL (United City Special Services Area); Series 2013, Ref. RB		5.00%		03/01/2033		1,828	1,727,026
							160,845,067
Indiana–0.50%
Columbus (City of), IN (Vivera Senior Living); Series 2019, RB		5.63%		05/01/2039		3,535	2,965,330
Indiana (State of) Finance Authority (Good Samaritan Hospital); Series 2016 A, RB		5.50%		04/01/2026		1,620	1,635,639
Indiana (State of) Municipal Power Agency; Series 2016 A, Ref. RB		5.00%		01/01/2037		7,500	7,624,260
							12,225,229
Iowa–0.92%
Iowa (State of) Finance Authority; Series 2007, RB(c)		5.90%		12/01/2028		400	5,356
Iowa (State of) Finance Authority (Alcoa, Inc.); Series 2012, RB		4.75%		08/01/2042		5,000	4,904,270
Iowa (State of) Finance Authority (Iowa Fertilizer Co.); Series 2022, Ref. RB(b)		5.00%		12/01/2042		7,785	8,101,705
Iowa (State of) Finance Authority (Mercy Medical Center); Series 2012, RB		5.00%		08/15/2028		1,685	1,685,623
Iowa (State of) Finance Authority (Unitypoint Health); Series 2018 B, Ref. RB		5.00%		02/15/2048		1,300	1,316,241
Iowa (State of) Finance Authority (Wedum Walnut Ridge LLC); Series 2007 B, RB		5.38%		06/01/2025		50	49,430
PEFA, Inc.; Series 2019, RB(b)		5.00%		09/01/2026		5,190	5,282,657

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
Iowa–(continued)
Xenia (City of), IA Rural Water District; Series 2016, Ref. RN(a)(b)		5.00%		12/01/2026	$	1,000	$  1,036,239
							22,381,521
Kentucky–2.24%
Kentucky (Commonwealth of) Municipal Power Agency (Prairie State);
Series 2016 A, Ref. RB (INS - NATL)(e)		5.00%		09/01/2031		5,000	5,080,697
Series 2016 A, Ref. RB (INS - NATL)(e)		5.00%		09/01/2033		11,525	11,656,836
Series 2016 A, Ref. RB (INS - NATL)(e)		5.00%		09/01/2034		5,000	5,039,128
Kentucky (Commonwealth of) Property & Building Commission (No. 115);
Series 2017, RB		5.00%		04/01/2037		2,500	2,583,079
Series 2017, RB (INS - BAM)(e)		5.00%		04/01/2038		2,500	2,583,868
Kentucky (Commonwealth of) Property & Building Commission (No. 119);
Series 2018, RB		5.00%		05/01/2035		1,500	1,571,502
Series 2018, RB		5.00%		05/01/2036		1,170	1,225,149
Series 2018, RB		5.00%		05/01/2037		4,605	4,820,040
Kentucky (Commonwealth of) Public Energy Authority;
Series 2022 A-1, RB(b)		4.00%		08/01/2030		15,000	14,793,193
Series 2024 A, RB(b)		5.00%		07/01/2030		5,000	5,227,036
							54,580,528
Louisiana–1.52%
Denham Springs (City of) & Livingston (Parish of), LA Housing & Mortgage Finance Authority; Series 2007, RB (CEP - GNMA)		5.00%		11/01/2040		3	3,048
Louisiana (State of) Public Facilities Authority (19th Judicial District Court Building); Series 2015, Ref. RB(a)(b)		5.00%		06/01/2025		2,500	2,536,158
Louisiana (State of) Public Facilities Authority (Archdiocese of New Orleans);
Series 2017, Ref. RB		5.00%		07/01/2032		395	316,000
Series 2017, Ref. RB		5.00%		07/01/2033		300	240,000
Series 2017, Ref. RB		5.00%		07/01/2037		345	276,000
Louisiana (State of) Public Facilities Authority (Ochsner Clinic Foundation); Series 2017, Ref. RB		5.00%		05/15/2046		7,500	7,531,753
Louisiana Stadium & Exposition District; Series 2023 A, Ref. RB		5.25%		07/01/2053		15,000	16,056,808
Louisiana State University & Agricultural & Mechanical College Board of Supervisors; Series 2016 A, Ref. RB(a)(b)		5.00%		07/01/2026		4,035	4,157,019
New Orleans (City of), LA Aviation Board (Parking Facilities Corp. Consolidated Garage System);
Series 2018 A, RB (INS - AGM)(e)		5.00%		10/01/2043		700	718,343
Series 2018 A, RB (INS - AGM)(e)		5.00%		10/01/2048		1,280	1,304,952
St. John the Baptist (Parish of), LA (Marathon Oil Corp.);
Series 2017, Ref. RB(b)		2.13%		07/01/2024		2,000	1,995,039
Subseries 2017 A-3, Ref. RB(b)		2.20%		07/01/2026		2,000	1,899,426
							37,034,546
Maryland–0.53%
Anne Arundel (County of), MD; Series 2023, GO Bonds		4.00%		10/01/2052		5,000	4,806,244
Gaithersburg (City of), MD (Asbury Maryland Obligated Group); Series 2018 A, Ref. RB		5.00%		01/01/2036		1,500	1,513,130
Maryland (State of) Health & Higher Educational Facilities Authority;
Series 2001, RB (INS - AMBAC)(e)		5.00%		07/01/2034		5	5,037
Series 2016, Ref. RB		5.00%		06/01/2036		400	404,469
Maryland Economic Development Corp. (University of Maryland College Park); Series 2016, Ref. RB (INS - AGM)(e)		5.00%		06/01/2035		4,530	4,628,105
Prince George’s (County of), MD (Victoria Falls); Series 2005, RB		5.25%		07/01/2035		1,490	1,497,217
							12,854,202
Massachusetts–1.43%
Massachusetts (Commonwealth of); Series 2016-XF0530, Ctfs. Of Obligation(i)		5.00%		12/01/2035		20,000	20,672,026
Massachusetts (Commonwealth of) Development Finance Agency;
Series 2016 I, Ref. RB		5.00%		07/01/2036		2,000	2,030,471
Series 2019 A, Ref. RB		4.00%		07/01/2044		3,000	2,577,464
Massachusetts (Commonwealth of) Transportation Fund (Rail Enhancement Program); Series 2021 A, RB(i)		4.00%		06/01/2050		10,000	9,518,112
							34,798,073

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
Michigan–2.69%
Detroit (City of), MI; Series 2003 B-R, RB (INS - AGM)(e)		7.50%		07/01/2033	$	60	$   60,155
Detroit (City of), MI Downtown Development Authority (Catalyst Development);
Series 2018 A, Ref. RB (INS - AGM)(e)		5.00%		07/01/2043		150	149,991
Series 2018 A, Ref. RB (INS - AGM)(e)		5.00%		07/01/2048		1,350	1,309,731
Michigan (State of);
Series 2020 B, RB		4.00%		11/15/2045		10,000	9,765,131
Series 2021, RB		4.00%		11/15/2046		6,000	5,827,459
Michigan (State of) Finance Authority;
Series 2005 A, RB		6.00%		12/01/2035		1,155	1,111,447
Series 2008 C, RB(h)		0.00%		06/01/2058		289,275	8,805,329
Series 2014, Ref. RB(a)(b)(f)		6.75%		07/01/2024		1,945	1,948,261
Series 2014, Ref. RB(a)(b)(f)		6.75%		07/01/2024		2,270	2,273,806
Series 2014, Ref. RB(f)		6.75%		07/01/2044		1,785	1,744,454
Michigan (State of) Finance Authority (Detroit Water & Sewerage Department);
Series 2014 C-6, Ref. RB		5.00%		07/01/2033		1,000	1,000,583
Series 2014 D-4, Ref. RB		5.00%		07/01/2032		2,450	2,451,585
Series 2014 D-4, Ref. RB		5.00%		07/01/2034		1,000	1,000,639
Series 2014 D-6, Ref. RB (INS - NATL)(e)		5.00%		07/01/2025		1,000	1,000,788
Series 2014 D-6, Ref. RB (INS - NATL)(e)		5.00%		07/01/2026		895	895,593
Series 2014 D-6, Ref. RB (INS - NATL)(e)		5.00%		07/01/2027		930	930,742
Series 2015 C, RB		5.00%		07/01/2034		2,200	2,220,622
Michigan (State of) Finance Authority (Old Redforf Academy); Series 2010 A, RB		5.90%		12/01/2030		455	450,657
Michigan (State of) Finance Authority (Universal Learning Academy); Series 2018, Ref. RB		5.75%		11/01/2040		635	625,034
Michigan (State of) Strategic Fund (Wolverine Human Services); Series 2007, RN(c)		5.85%		08/31/2027		6,074	5,467,503
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	500,148
Walled Lake Consolidated School District;
Series 2019, GO Bonds		4.00%		05/01/2039		600	602,987
Series 2019, GO Bonds		4.00%		05/01/2040		1,220	1,224,409
Series 2019, GO Bonds		4.00%		05/01/2041		2,485	2,496,447
Wayne (County of), MI Airport Authority (Detroit Metropolitan Wayne County Airport); Series 2021 A, RB		5.00%		12/01/2046		10,000	10,545,869
							65,461,620
Minnesota–0.18%
Bethel (City of), MN (Benedictine Health System - St. Peter Communities); Series 2018 A, Ref. RB		5.50%		12/01/2048		1,050	964,188
Duluth (City of), MN Economic Development Authority (Essentia Health Obligated Group); Series 2018 A, Ref. RB		5.00%		02/15/2043		2,300	2,335,107
Minnesota (State of) Higher Education Facilities Authority (Trustees of the Hamline University of Minnesota); Series 2017, Ref. RB		5.00%		10/01/2047		900	876,337
Mound (City of), MN Housing & Redevelopment Authority; Series 2006, Ref. RB		5.00%		02/15/2027		323	313,962
							4,489,594
Mississippi–0.46%
Mississippi (State of) Development Bank; Series 2016, RB (CEP - Colorado Higher Education Intercept Program)		5.00%		12/01/2046		10,000	10,076,531
Mississippi Business Finance Corp. (System Energy Resources, Inc.); Series 2021, RB		2.38%		06/01/2044		1,795	1,075,708
							11,152,239
Missouri–1.41%
Branson (City of), MO Industrial Development Authority (Branson Hills Redevelopment);
Series 2005 A, RB(g)		7.05%		05/01/2027		60	52,896
Series 2007 A, RB(g)		5.75%		05/01/2026		550	497,957
Broadway-Fairview Transportation Development District; Series 2006 A, RB(g)		5.88%		12/01/2031		675	209,250
Chillicothe (City of), MO (South U.S. 65); Series 2006, RB		5.63%		04/01/2027		400	392,864
Columbia (City of), MO Housing Authority (Stuart Park/Paquin Tower Apartments);
Series 2015, RB		5.00%		12/15/2040		580	548,159
Series 2015, RB		5.13%		12/15/2050		1,330	1,199,183

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–(continued)
Hollister (City of), MO; Series 2019, RB(f)		5.63%		10/01/2039	$	3,700	$3,328,281
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	257,090
Lee’s Summit (City of), MO Industrial Development Authority; Series 2007, RB(c)(g)		5.75%		03/01/2029		250	137,500
Maplewood (City of), MO (Maplewood South Redevelopment Area); Series 2005, Ref. RB		5.75%		11/01/2026		675	654,993
Missouri (State of) Health & Educational Facilities Authority (SSM Health); Series 2018 A, RB		5.00%		06/01/2048		7,500	7,575,983
Northwoods Transportation Development District; Series 2006 A, RB		5.85%		02/01/2031		50	43,116
St. Louis (City of), MO; Series 2024, RB (INS - AGM)(e)		5.25%		07/01/2054		12,500	13,513,225
St. Louis (City of), MO (Abbey Condominiums);
Series 2006 A, RB(d)(g)		6.00%		08/04/2025		481	28,860
Series 2007, RB(g)		5.50%		05/29/2028		661	198,305
St. Louis (City of), MO Land Clearance for Redevelopment Authority (Scottrade Center); Series 2018 A, RB		5.00%		04/01/2048		3,250	3,269,074
St. Louis (County of), MO; Series 2007 A, RB(g)		5.50%		09/02/2028		373	108,170
St. Louis (County of), MO (Ludwig Lofts); Series 2008, RN(d)(g)		6.69%		04/21/2029		1,080	183,600
St. Louis (County of), MO (Printers Lofts Tax Increment Financing); Series 2006, RB(d)(g)		6.00%		08/21/2026		545	43,600
St. Louis (County of), MO (Washington Park Redevelopment);
Series 2006, RB(d)(g)		6.00%		08/21/2026		846	101,520
Series 2006, RN(g)		5.50%		03/09/2027		1,879	357,010
Series 2007 A, RN(g)		5.50%		01/20/2028		703	267,140
Series 2007 B, RN(d)(g)		5.50%		01/20/2028		466	23,300
Series 2008 A, RB(g)		6.60%		01/21/2028		3,254	1,301,600
Stone Canyon Community Improvement District (Infrastructure Improvement); Series 2007, RB (Acquired 09/23/2011; Cost $287,597)(c)(g)(l)		5.75%		04/01/2027		320	28,800
							34,321,476
Montana–0.09%
Hardin (City of), MT; Series 2006, RB(d)(g)		6.25%		09/01/2031		11,710	2,224,900
Nebraska–0.94%
Central Plains Energy Project (No. 3); Series 2017 A, Ref. RB		5.00%		09/01/2035		6,150	6,446,013
Central Plains Energy Project (No. 5); Series 2022-1, RB(b)		5.00%		10/01/2029		5,000	5,204,854
Omaha (City of), NE Public Power District;
Series 2021 A, RB (INS - AGM)(e)		4.00%		02/01/2051		6,000	5,750,833
Series 2023 A, RB		5.25%		02/01/2053		5,000	5,418,660
							22,820,360
Nevada–0.54%
Clark (County of), NV (Special Improvement District No. 128);
Series 2007 A, RB		5.00%		02/01/2026		130	130,075
Series 2007 A, RB		5.05%		02/01/2031		245	245,062
Clark (County of), NV (Stadium Improvement Bonds); Series 2018 A, GO Bonds		5.00%		05/01/2048		2,500	2,580,717
Clark County School District; Series 2018 B, GO Bonds (INS - BAM)(e)		5.00%		06/15/2036		5,280	5,587,436
Las Vegas Valley Water District; Series 2022 A, GO Bonds		4.00%		06/01/2051		5,000	4,636,246
							13,179,536
New Hampshire–0.45%
Manchester Housing & Redevelopment Authority, Inc.; Series 2000 B, RB (INS - BAM)(e)(h)		0.00%		01/01/2029		305	238,886
New Hampshire (State of) Business Finance Authority; Series 2020-1A, RB		4.13%		01/20/2034		3,457	3,288,415
New Hampshire (State of) Business Finance Authority (Social Bonds); Series 2022-2A, RB		4.00%		10/20/2036		4,976	4,616,122
New Hampshire (State of) Business Finance Authority (Vista (The));
Series 2019 A, RB(f)		5.25%		07/01/2039		410	379,363
Series 2019 A, RB(f)		5.63%		07/01/2046		230	209,825
Series 2019 A, RB(f)		5.75%		07/01/2054		570	512,422
New Hampshire (State of) Housing Finance Authority (University Hospitals Home Care Services, Inc.); Series 2024, RB(f)		5.63%		12/15/2033		1,800	1,826,198
							11,071,231

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 Jersey–7.50%
Atlantic City (City of), NJ;
Series 2017 A, Ref. GO Bonds (INS - BAM)(e)		5.00%		03/01/2032	$	250	$  257,346
Series 2017 A, Ref. GO Bonds (INS - BAM)(e)		5.00%		03/01/2037		500	513,283
Casino Reinvestment Development Authority, Inc.;
Series 2014, Ref. RB (INS - AGM)(e)		5.00%		11/01/2030		2,000	2,010,002
Series 2014, Ref. RB (INS - AGM)(e)		5.00%		11/01/2032		2,000	2,008,418
Hudson County Improvement Authority (Hudson County Courthouse); Series 2020, RB		4.00%		10/01/2046		10,000	9,620,108
New Jersey (State of); Series 2020 A, GO Bonds		4.00%		06/01/2032		6,380	6,639,336
New Jersey (State of) Economic Development Authority;
Series 2016 AAA, RB(a)(b)		5.00%		12/15/2026		3,000	3,112,520
Series 2017 DDD, RB		5.00%		06/15/2028		1,930	2,000,238
Series 2017 DDD, RB		5.00%		06/15/2029		3,500	3,630,149
Series 2018 A, RB		5.00%		06/15/2042		3,500	3,577,583
Series 2018 A, RB		5.00%		06/15/2047		735	747,902
Series 2018 C, RB		5.00%		06/15/2031		4,855	5,058,596
New Jersey (State of) Economic Development Authority (Golden Door Charter School); Series 2018 A, RB(f)		6.50%		11/01/2052		220	229,811
New Jersey (State of) Economic Development Authority (Newark Downtown District Management Corp.); Series 2019, Ref. RB		5.13%		06/15/2037		820	868,813
New Jersey (State of) Health Care Facilities Financing Authority; Series 2015 A, RB (INS - AGM)(e)		5.00%		07/01/2029		2,100	2,122,028
New Jersey (State of) Health Care Facilities Financing Authority (RWJ Barnabas Health Obligated Group); Series 2024, RB		5.25%		07/01/2054		10,000	10,837,580
New Jersey (State of) Transportation Trust Fund Authority;
Series 2004 A, RB (INS - NATL)(e)		5.75%		06/15/2024		11,570	11,576,140
Series 2008 A, RB(h)		0.00%		12/15/2038		5,680	3,028,851
Series 2009 D, RB		5.00%		06/15/2032		5,015	5,034,170
Series 2016 A-1, RN		5.00%		06/15/2030		6,000	6,127,327
Series 2018 A, Ref. RN		5.00%		06/15/2029		6,660	6,811,939
Series 2018 A, Ref. RN		5.00%		06/15/2030		945	964,869
Series 2018 A, Ref. RN		5.00%		06/15/2031		880	897,492
Series 2019 BB, RB		4.00%		06/15/2050		7,125	6,603,233
Series 2020 AA, RB		4.00%		06/15/2050		10,200	9,453,050
Series 2022 BB, RB		4.00%		06/15/2046		1,585	1,507,877
New Jersey (State of) Turnpike Authority;
Series 2015 E, RB(a)		5.00%		01/01/2034		7,000	7,041,090
Series 2021 A, RB		4.00%		01/01/2042		2,000	2,004,476
Series 2021 A, RB		4.00%		01/01/2051		10,000	9,511,462
Tobacco Settlement Financing Corp.;
Series 2018 A, Ref. RB		5.00%		06/01/2029		3,500	3,683,451
Series 2018 A, Ref. RB		5.00%		06/01/2030		12,030	12,669,706
Series 2018 A, Ref. RB		5.00%		06/01/2031		4,500	4,737,578
Series 2018 A, Ref. RB		5.00%		06/01/2032		12,980	13,655,404
Series 2018 A, Ref. RB		5.00%		06/01/2033		5,005	5,261,626
Series 2018 A, Ref. RB		5.00%		06/01/2037		3,000	3,123,221
Series 2018 A, Ref. RB		5.25%		06/01/2046		6,000	6,180,516
Series 2018 B, Ref. RB		5.00%		06/01/2046		9,340	9,403,667
							182,510,858
New Mexico–0.01%
Boulders Public Improvement District; Series 2015, RB		5.75%		10/01/2044		230	208,628
New York–10.32%
Hudson Yards Infrastructure Corp.;
Series 2017 XF0549, Revenue Ctfs.(i)		5.00%		02/15/2037		8,500	8,800,702
Series 2017 XF0549, Revenue Ctfs.(i)		5.00%		02/15/2039		7,500	7,731,600
Metropolitan Transportation Authority;
Series 2024 A, Ref. RB		5.50%		11/15/2047		3,000	3,284,335
Series 2024 A, Ref. RB		5.25%		11/15/2049		5,000	5,354,238

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 York–(continued)
Metropolitan Transportation Authority (Green Bonds);
Series 2016 A-1, RB		5.25%		11/15/2056	$	14,375	$  14,583,680
Series 2017 A-1, RB		5.25%		11/15/2057		3,500	3,608,211
Series 2019 A, RB		5.00%		11/15/2045		10,065	10,349,538
New York & New Jersey (States of) Port Authority; One Hundred Ninety Fourth Series 2015, Ref. RB		5.25%		10/15/2055		10,000	10,135,014
New York (City of), NY;
Series 2022 A-1, GO Bonds		5.25%		09/01/2043		10,000	10,950,108
Series 2024 D, GO Bonds		5.25%		04/01/2054		10,000	10,870,808
New York (City of), NY Municipal Water Finance Authority; Series 2018 EE, Ref. RB		5.00%		06/15/2040		10,160	10,567,951
New York (City of), NY Transitional Finance Authority;
Series 2019 A-3, RB		4.00%		05/01/2041		10,000	9,826,119
Series 2022 C-1, RB		4.00%		02/01/2051		4,000	3,779,028
Series 2022, RB		4.00%		02/01/2043		5,000	4,884,349
Series 2024, RB		5.25%		05/01/2049		3,400	3,716,966
Series 2024, RB		5.25%		05/01/2051		4,185	4,567,232
New York (State of) Dormitory Authority;
Series 2015 B, RB		5.00%		03/15/2033		10,000	10,143,240
Series 2015 B, Ref. RB(a)(b)		5.00%		07/01/2025		2,650	2,691,862
Series 2018 A, Ref. RB		5.00%		03/15/2034		5,020	5,151,344
Series 2020 D, Ref. RB		4.00%		02/15/2047		14,300	13,549,148
Series 2024 A, Ref. RB		5.50%		07/01/2054		7,500	8,424,895
New York (State of) Power Authority (Green Bonds);
Series 2020 A, Ref. RB		4.00%		11/15/2045		7,000	6,762,881
Series 2020 A, Ref. RB		4.00%		11/15/2055		5,000	4,684,790
New York (State of) Thruway Authority;
Series 2019 B, RB		4.00%		01/01/2050		5,000	4,662,633
Series 2019 B, RB		4.00%		01/01/2053		5,000	4,559,428
New York (State of) Thruway Authority (Bidding Group 1) (Green Bonds); Series 2022 C, RB		5.00%		03/15/2053		7,000	7,405,959
New York (State of) Thruway Authority (Group 2); Series 2021 O, Ref. RB		4.00%		01/01/2046		5,000	4,782,959
New York City Housing Development Corp. (Sustainable Development Bonds); Series 2023, RB		4.80%		02/01/2053		12,000	12,077,833
New York Counties Tobacco Trust II; Series 2001, RB		5.75%		06/01/2043		60	61,156
New York Counties Tobacco Trust VI; Series 2016 A-1, Ref. RB		5.75%		06/01/2043		285	283,696
New York State Urban Development Corp.;
Series 2020 A, RB		4.00%		03/15/2045		14,130	13,575,443
Series 2020 A, RB		4.00%		03/15/2049		10,000	9,428,393
New York Transportation Development Corp. (Terminal 4 JFK International Airport);
Series 2020 C, Ref. RB		5.00%		12/01/2036		2,205	2,356,619
Series 2020, Ref. RB		5.00%		12/01/2035		2,305	2,471,112
Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels);
Series 2022 A, RB		5.25%		05/15/2057		5,000	5,358,835
Series 2022 A, Ref. RB		5.00%		05/15/2057		2,500	2,633,828
TSASC, Inc.;
Series 2016 B, Ref. RB		5.00%		06/01/2045		5,450	4,687,870
Series 2017 A, Ref. RB		5.00%		06/01/2036		2,455	2,522,642
							251,286,445
North Carolina–1.01%
Charlotte (City of), NC (Charlotte Douglas International Airport);
Series 2022 A, RB		4.00%		07/01/2052		10,000	9,472,886
Series 2022, RB		4.00%		07/01/2047		8,370	7,986,600
North Carolina (State of) Turnpike Authority; Series 2018, Ref. RB		5.00%		01/01/2040		7,000	7,167,808
							24,627,294
Ohio–2.32%
Buckeye Tobacco Settlement Financing Authority;
Series 2020 B-2, Ref. RB		5.00%		06/01/2055		27,350	24,506,678
Series 2020 B-3, Ref. RB(h)		0.00%		06/01/2057		49,575	4,437,434
Cleveland (City of) & Cuyahoga (County of), OH Port Authority (Flats East Bank); Series 2010, RB		6.00%		11/15/2035		3,445	3,449,716

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
Ohio–(continued)
Cuyahoga (County of), OH (MetroHealth System);
Series 2017, Ref. RB		5.50%		02/15/2052	$	2,475	$  2,504,081
Series 2017, Ref. RB		5.50%		02/15/2057		1,050	1,061,420
Greater Cincinnati (Port of), OH Development Authority; Series 2004, RB		6.40%		02/15/2034		5,860	5,608,505
Hamilton (County of), OH (Trihealth, Inc. Obligated); Series 2021, Ref. VRD RB(k)		2.30%		08/15/2051		2,500	2,500,000
Montgomery (County of), OH (Dayton Children’s Hospital); Series 2021, Ref. RB		4.00%		08/01/2046		5,000	4,679,116
Ohio (State of) Higher Educational Facility Commission (University of Findlay); Series 2019, Ref. RB		5.00%		03/01/2039		1,000	934,142
University of Cincinnati; Series 2024 A, RB		5.25%		06/01/2054		6,275	6,734,169
							56,415,261
Oklahoma–0.13%
Carter (County of), OK Public Facilities Authority; Series 2018, RB		5.00%		09/01/2032		3,070	3,193,724
Oregon–0.09%
Yamhill (County of), OR Hospital Authority (Friendsview);
Series 2021 A, Ref. RB		5.00%		11/15/2046		1,540	1,255,051
Series 2021 A, Ref. RB		5.00%		11/15/2051		1,100	867,724
							2,122,775
Pennsylvania–6.57%
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	2,919,232
Bethlehem Area School District; Series 2015 A, GO Bonds (INS - BAM)(e)		5.00%		08/01/2033		5,000	5,052,877
Chester (County of), PA Industrial Development Authority (Longwood Gardens) (Sustainability Bonds);
Series 2019, RB		5.00%		12/01/2044		1,840	1,927,100
Series 2019, RB		4.00%		12/01/2049		1,350	1,277,085
Commonwealth Financing Authority;
Series 2018, RB		5.00%		06/01/2030		1,250	1,307,765
Series 2018, RB		5.00%		06/01/2032		3,000	3,137,382
Series 2018, RB		5.00%		06/01/2033		2,000	2,090,710
Series 2018, RB		5.00%		06/01/2034		1,760	1,838,972
Delaware (County of), PA Authority (Neumann University);
Series 2016, Ref. RB		5.00%		10/01/2031		1,425	1,425,935
Series 2016, Ref. RB		5.00%		10/01/2035		2,305	2,308,252
Geisinger Authority (Geisinger Health System); Series 2017 A-1, Ref. RB		5.00%		02/15/2045		6,335	6,403,097
Montgomery (County of), PA Higher Education & Health Authority (Holy Redeemer Health System); Series 2014 A, Ref. RB		5.00%		10/01/2024		1,165	1,162,032
Montgomery (County of), PA Higher Education & Health Authority (Thomas Jefferson University); Series 2019, Ref. RB		4.00%		09/01/2049		5,250	4,790,085
Pennsylvania (Commonwealth of);
First Series 2018-1, GO Bonds		5.00%		03/01/2032		10,000	10,547,108
First Series 2018-1, GO Bonds		4.00%		03/01/2035		12,500	12,689,264
First Series 2018-1, GO Bonds (INS - BAM)(e)		4.00%		03/01/2036		4,175	4,244,666
Pennsylvania (Commonwealth of) Housing Finance Agency (Social Bonds); Series 2023 143-A, RB		5.30%		04/01/2044		10,000	10,310,760
Pennsylvania (Commonwealth of) Public School Building Authority (Philadelphia School District);
Series 2016 A, Ref. RB (INS - AGM)(e)		5.00%		06/01/2032		5,000	5,116,229
Series 2016 A, Ref. RB (INS - AGM)(e)		5.00%		06/01/2033		5,000	5,116,229
Pennsylvania (Commonwealth of) Turnpike Commission;
First series 2023, Ref. RB		5.00%		12/01/2043		1,000	1,085,423
Series 2009 E, RB		6.38%		12/01/2038		1,500	1,624,217
Series 2014 A-3, RB(h)		0.00%		12/01/2041		3,450	1,512,667
Series 2016, Ref. RB		5.00%		06/01/2030		5,000	5,083,051
Series 2017 B-1, RB		5.00%		06/01/2042		5,125	5,232,576
Series 2019 A, RB		5.00%		12/01/2044		7,750	8,029,688
Series 2020 B, RB		5.00%		12/01/2045		5,000	5,294,328
Series 2021 A, RB		4.00%		12/01/2050		2,000	1,832,752
Series 2021 B, RB		4.00%		12/01/2051		8,500	7,768,195
Series 2021 B, Ref. RB		5.00%		12/01/2051		7,000	7,372,429

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)
Philadelphia (City of), PA;
Series 2017 15, Ref. RB		5.00%		08/01/2036	$	1,000	$  1,031,089
Series 2017 A, RB		5.00%		10/01/2047		10,000	10,193,676
Series 2021 C, RB		5.00%		10/01/2046		5,000	5,296,618
Philadelphia (City of), PA Authority for Industrial Development (St. Joseph’s University); Series 2022, RB		5.25%		11/01/2052		5,000	5,203,393
Philadelphia School District (The); Series 2016 F, Ref. GO Bonds		5.00%		09/01/2032		1,000	1,016,406
Pottsville (City of), PA Hospital Authority (Lehigh Valley); Series 2016 B, Ref. RB		5.00%		07/01/2041		4,000	4,054,536
Reading School District;
Series 2017, Ref. GO Bonds (INS - AGM)(e)		5.00%		03/01/2035		280	288,584
Series 2017, Ref. GO Bonds (INS - AGM)(e)		5.00%		03/01/2036		255	262,392
Scranton School District;
Series 2017 E, Ref. GO Bonds (INS - BAM)(e)		5.00%		12/01/2029		1,000	1,038,450
Series 2017 E, Ref. GO Bonds (INS - BAM)(e)		5.00%		12/01/2030		1,305	1,354,549
Series 2017 E, Ref. GO Bonds (INS - BAM)(e)		5.00%		12/01/2032		890	928,177
Series 2017 E, Ref. GO Bonds (INS - BAM)(e)		5.00%		12/01/2033		710	739,693
							159,907,669
Puerto Rico–4.32%
Corp. Para El Financiamiento Publico de Puerto Rico; Series 2011, RB(g)		5.50%		08/01/2031		5,615	0
GDB Debt Recovery Authority of Puerto Rico; Series 2023, RB		7.50%		08/20/2040		195	181,972
PRHTA Custodial Trust; Series 2022 I, RB(c)		5.00%		12/06/2049		13	3,197
PRIFA Custodial Trust;
Series 2005 A, RB(h)		0.00%		03/15/2049		731	508,980
Series 2005 A, RB(h)		0.00%		03/15/2049		645	456,595
Series 2022, RB(h)		0.00%		03/15/2049		6,997	2,939,747
Series 2022, RB(h)		0.00%		03/15/2049		6,362	2,815,268
Puerto Rico (Commonwealth of);
Series 2021 A, GO Bonds(h)		0.00%		07/01/2024		595	593,109
Series 2021 A, GO Bonds(h)		0.00%		07/01/2033		4,698	3,120,061
Series 2021 A-1, GO Bonds		5.38%		07/01/2025		4,066	4,101,332
Series 2021 A-1, GO Bonds		5.63%		07/01/2027		4,029	4,213,047
Series 2021 A-1, GO Bonds		5.63%		07/01/2029		3,963	4,266,185
Series 2021 A-1, GO Bonds		5.75%		07/01/2031		3,850	4,291,485
Series 2021 A-1, GO Bonds		4.00%		07/01/2033		3,651	3,650,505
Series 2021 A-1, GO Bonds		4.00%		07/01/2035		3,281	3,223,654
Series 2021 A-1, GO Bonds		4.00%		07/01/2037		2,816	2,732,386
Series 2021 A-1, GO Bonds		4.00%		07/01/2046		7,929	7,171,472
Subseries 2022, RN(h)		0.00%		11/01/2043		17,140	10,648,023
Subseries 2022, RN(h)		0.00%		11/01/2051		44	22,617
Subseries 2022, RN(h)		0.00%		11/01/2051		2,021	1,275,491
Puerto Rico (Commonwealth of) Electric Power Authority;
Series 2005 RR, RB (INS - NATL)(e)		5.00%		07/01/2024		260	260,032
Series 2005 SS, Ref. RB (INS - NATL)(e)		5.00%		07/01/2025		4,000	4,001,351
Series 2007 VV, Ref. RB (INS - NATL)(e)		5.25%		07/01/2025		1,690	1,681,308
Series 2008 WW, RB(c)		5.25%		07/01/2025		1,985	526,025
Series 2010 AAA, RB(c)		5.25%		07/01/2028		2,830	749,950
Series 2010 CCC, RB(c)		5.00%		07/01/2028		2,500	662,500
Series 2010 XX, RB(c)		5.25%		07/01/2040		1,670	442,550
Series 2010 ZZ, Ref. RB(c)		5.25%		07/01/2025		405	107,325
Puerto Rico Sales Tax Financing Corp.;
Series 2018 A-1, RB(h)		0.00%		07/01/2046		34,472	11,041,478
Series 2018 A-1, RB(h)		0.00%		07/01/2051		31,582	7,511,374
Series 2018 A-1, RB		4.75%		07/01/2053		9,853	9,791,130
Series 2018 A-1, RB		5.00%		07/01/2058		4,400	4,401,427
Series 2019 A-2, RB		4.54%		07/01/2053		387	371,646
Series 2019 A-2, RB		4.78%		07/01/2058		5,172	5,126,252

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)
University of Puerto Rico;
Series 2006 P, Ref. RB		5.00%		06/01/2026	$	1,305	$  1,287,533
Series 2006 P, Ref. RB		5.00%		06/01/2030		900	870,586
Series 2006 Q, RB		5.00%		06/01/2036		150	142,718
							105,190,311
Rhode Island–0.28%
Central Falls Detention Facility Corp.; Series 2005, Ref. RB (Acquired 06/23/2005; Cost $4,862,486)(c)(l)		7.25%		07/15/2035		4,915	1,966,000
Rhode Island Housing and Mortgage Finance Corp.; Series 1992 10-A, RB		6.50%		04/01/2027		20	20,033
Tobacco Settlement Financing Corp.; Series 2015 A, Ref. RB		5.00%		06/01/2040		4,695	4,717,832
							6,703,865
South Carolina–0.76%
South Carolina (State of) Jobs-Economic Development Authority (Novant Health Obligated Group);
Series 2024, RB		5.50%		11/01/2049		2,500	2,740,845
Series 2024, RB		5.50%		11/01/2054		10,370	11,268,653
University of South Carolina (Campus Village); Series 2021 A, RB		4.00%		05/01/2051		5,000	4,601,634
							18,611,132
Tennessee–1.07%
Chattanooga (City of), TN Health, Educational & Housing Facility Board (CommonSpirit Health); Series 2019 A-1, Ref. RB		4.00%		08/01/2038		225	214,235
Greeneville (Town of), TN Health & Educational Facilities Board (Ballad Health Obligated Group);
Series 2018 A, Ref. RB		5.00%		07/01/2035		2,000	2,064,922
Series 2018 A, Ref. RB		5.00%		07/01/2036		3,000	3,092,899
Series 2018 A, Ref. RB		5.00%		07/01/2037		3,000	3,082,240
Knox (County of), TN Health, Educational & Housing Facility Board (University of Tennessee); Series 2024 A-1, RB (INS - BAM)(e)		5.50%		07/01/2054		1,250	1,341,240
Metropolitan Development and Housing Agency (Fifth + Broadway Development); Series 2018, RB(f)		5.13%		06/01/2036		200	201,049
Metropolitan Nashville Airport Authority (The); Series 2019 A, RB		5.00%		07/01/2049		5,000	5,200,022
Tennessee Energy Acquisition Corp.;
Series 2006 C, RB		5.00%		02/01/2027		5,665	5,701,603
Series 2021 A, RB(b)		5.00%		11/01/2031		5,000	5,243,894
							26,142,104
Texas–10.05%
Alamo Community College District; Series 2007, GO Bonds (INS - NATL)(e)		4.50%		08/15/2033		5	5,000
Aldine Independent School District; Series 2024, GO Bonds (CEP - Texas Permanent School Fund)		4.00%		02/15/2054		10,150	9,486,701
Arlington Higher Education Finance Corp. (UME Preparatory Academy); Series 2017 A, RB		5.00%		08/15/2038		885	876,950
Arlington Higher Education Finance Corp. (Winfree Academy Charter School); Series 2019, Ref. RB		5.75%		08/15/2043		1,400	1,404,848
Birdville Independent School District; Series 2023, GO Bonds		4.00%		02/15/2048		5,000	4,590,899
Dallas & Fort Worth (Cities of), TX (Dallas/Fort Worth International Airport);
Series 2021 B, Ref. RB		4.00%		11/01/2045		10,000	9,663,110
Series 2022 B, Ref. RB		4.00%		11/01/2045		10,000	9,663,110
Dallas (County of), TX Flood Control District No. 1; Series 2015, Ref. GO Bonds(f)		5.00%		04/01/2032		1,100	1,081,468
El Paso (City of), TX; Series 2022 A, RB		4.00%		03/01/2048		11,500	10,935,278
Forney Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)		4.00%		08/15/2053		5,000	4,643,629
Grand Parkway Transportation Corp.; Series 2020, Ref. RB		4.00%		10/01/2045		15,000	14,243,292
Greater Texoma Utility Authority (City of Sherman); Series 2023 A, RB (INS - BAM)(e)		5.25%		10/01/2048		10,750	11,408,171
Harris (County of), TX Flood Control District; Series 2023 A, GO Bonds		4.00%		09/15/2048		5,000	4,743,530
Harris (County of), TX Port Authority of Houston; Series 2021, RB		4.00%		10/01/2046		5,365	5,153,711
Harris (County of), TX Toll Road Authority (The); Series 2024 A, RB		5.25%		08/15/2054		6,280	6,842,559
Harris County Industrial Development Corp. (Energy Transfer L.P.); Series 2023, Ref. RB(b)		4.05%		06/01/2033		6,500	6,480,571
Houston (City of), TX; Series 2020 C, Ref. RB		4.00%		11/15/2043		10,000	9,651,740
Humble Independent School District; Series 2022, GO Bonds (CEP - Texas Permanent School Fund)		4.00%		02/15/2052		10,750	10,124,820
Jarrell Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)		4.25%		02/15/2053		9,460	9,171,217
Lamar Consolidated Independent School District;
Series 2018, GO Bonds (CEP - Texas Permanent School Fund)		5.00%		02/15/2043		10,700	10,994,070
Series 2023, GO Bonds		4.00%		02/15/2053		7,500	6,991,532

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
Texas–(continued)
Lower Colorado River Authority (LCRA Transmission Services Corp.); Series 2022, Ref. RB		6.00%		05/15/2052	$	3,235	$  3,589,079
Medina Valley Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)		4.00%		02/15/2053		7,000	6,601,517
New Hope Cultural Education Facilities Finance Corp. (Beta Academy);
Series 2019, RB(f)		5.00%		08/15/2039		425	417,425
Series 2019, RB(f)		5.00%		08/15/2049		150	139,826
New Hope Cultural Education Facilities Finance Corp. (Cardinal Bay, Inc. - Village on the Park/Carriage Inn); Series 2016 A-1, RB		5.00%		07/01/2031		140	95,900
New Hope Cultural Education Facilities Finance Corp. (Cardinal Bay, Inc.);
Series 2016, RB		5.00%		07/01/2046		700	479,500
Series 2016, RB		5.00%		07/01/2051		600	411,000
New Hope Cultural Education Facilities Finance Corp. (CHF - Collegiate Housing Corpus Christi II, LLC - Texas A&M University-Corpus Christi); Series 2016 A, RB(a)(b)		5.00%		04/01/2026		355	363,086
New Hope Cultural Education Facilities Finance Corp. (CHF - Collegiate Housing Denton, LLC - Texas Woman’s University);
Series 2018 A-1, RB (INS - AGM)(e)		5.00%		07/01/2048		250	249,264
Series 2018 A-1, RB (INS - AGM)(e)		5.00%		07/01/2058		850	833,521
New Hope Cultural Education Facilities Finance Corp. (CHF - Collegiate Housing San Antonio I, LLC - Texas A&M University); Series 2016 A, RB(a)(b)		5.00%		04/01/2026		1,000	1,021,889
North Texas Tollway Authority; Series 2017 B, Ref. RB (INS - BAM)(e)		5.00%		01/01/2043		10,000	10,186,313
Northwest Independent School District; Series 2015, GO Bonds(a)(b)		5.00%		02/15/2025		10,000	10,100,809
Rockwall Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)		4.00%		02/15/2053		5,000	4,699,751
San Antonio (City of), TX; Series 2023 A, Ref. RB		5.25%		02/01/2046		5,000	5,473,109
Southwest Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)		4.00%		02/01/2053		5,000	4,669,607
Spring Independent School District; Series 2023, GO Bonds		4.00%		08/15/2052		7,500	6,972,218
Texas (State of) Water Development Board (Master Trust);
Series 2021, RB		4.00%		10/15/2051		10,000	9,240,199
Series 2022, RB		5.00%		10/15/2047		16,350	17,373,329
Texas Municipal Gas Acquisition & Supply Corp. III;
Series 2021, Ref. RB		5.00%		12/15/2031		2,500	2,573,688
Series 2021, Ref. RB		5.00%		12/15/2032		5,000	5,166,304
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	5,913,559
							244,727,099
Utah–0.50%
Black Desert Public Infrastructure District; Series 2024, RB(f)		5.63%		12/01/2053		5,000	5,097,476
Emery (County of), UT (Pacificorp); Series 1994, Ref. VRD PCR (LOC - Canadian Imperial Bank of Commerce)(k)(m)		3.50%		11/01/2024		5,240	5,240,000
Utah (State of) Charter School Finance Authority; Series 2018, RB		5.00%		10/15/2038		720	732,838
Utah (State of) Charter School Finance Authority (Merit Preparatory Academy); Series 2019 A, RB(f)		5.38%		06/15/2049		1,110	1,027,423
							12,097,737
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)(e)		5.00%		10/01/2032		1,400	1,413,057
Virginia–0.30%
Celebrate North Community Development Authority (Celebrate VA North); Series 2003 B, RB(c)(g)		6.75%		03/01/2034		302	190,260
Chesapeake Bay Bridge & Tunnel District; Series 2016, RB		5.00%		07/01/2046		6,320	6,343,831
Virginia Beach Development Authority (Westminster-Canterbury on Chesapeake Bay); Series 2018, Ref. RB		5.00%		09/01/2036		715	730,286
							7,264,377
Washington–0.72%
Kelso (City of), WA Housing Authority (Chinook & Columbia Apartments); Series 1998, RB		5.60%		03/01/2028		35	34,999
King (County of), WA; Series 2019 A, Ref. VRD GO Bonds(k)		2.10%		01/01/2046		600	600,000
Seattle (City of), WA; Series 2023 A, Ref. RB		5.00%		03/01/2048		5,000	5,338,825
Tacoma (City of), WA Consolidated Local Improvement Districts; Series 2013, RB		5.75%		04/01/2043		1,171	1,113,773
Washington (State of) Health Care Facilities Authority (Multicare Health System); Series 2015 A, RB		5.00%		08/15/2045		8,500	8,059,061

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
Washington–(continued)
Washington (State of) Health Care Facilities Authority (Virginia Mason Medical Center); Series 2017, Ref. RB		5.00%		08/15/2034	$	2,250	$  2,279,716
							17,426,374
West Virginia–0.49%
West Virginia (State of) Hospital Finance Authority (West Virginia University Health System Obligated Group); Series 2018 E, Ref. VRD RB(k)		3.97%		06/01/2033		12,050	12,050,000
Wisconsin–1.51%
Wisconsin (State of) Center District; Series 2020 D, RB (INS - AGM)(e)(h)		0.00%		12/15/2055		23,575	4,875,645
Wisconsin (State of) Health & Educational Facilities Authority; Series 2018 XF2541, Revenue Ctfs.(i)		4.00%		11/15/2034		20,000	19,680,641
Wisconsin (State of) Health & Educational Facilities Authority (Froedtert Health); Series 2022 A, Ref. RB		4.00%		04/01/2042		7,160	6,800,009
Wisconsin (State of) Public Finance Authority (Beyond Boone, LLC - Appalachian State University);
Series 2019 A, RB (INS - AGM)(e)		5.00%		07/01/2036		900	936,804
Series 2019 A, RB (INS - AGM)(e)		5.00%		07/01/2054		1,275	1,282,387
Series 2019 A, RB (INS - AGM)(e)		5.00%		07/01/2058		1,400	1,408,112
Wisconsin (State of) Public Finance Authority (Explore Knowledge Foundation);
Series 2012 A, RB		5.75%		07/15/2032		320	320,218
Series 2012 A, RB		6.00%		07/15/2042		350	350,209
Wisconsin (State of) Public Finance Authority (North Carolina Leadership Academy); Series 2019, RB(f)		5.00%		06/15/2039		310	302,950
Wisconsin (State of) Public Finance Authority (Traders Point Christian Schools);
Series 2019 A, RB(f)		5.38%		06/01/2044		535	460,154
Series 2019 A, RB(f)		5.50%		06/01/2054		540	453,650
							36,870,779
TOTAL INVESTMENTS IN SECURITIES(n)-101.77% (Cost $2,541,540,420)							2,477,419,456
FLOATING RATE NOTE OBLIGATIONS–(2.54)%
Notes with interest and fee rates ranging from 3.88% to 3.93% at 05/31/2024 and contractual maturities of collateral ranging from 11/15/2034 to 06/01/2050(o)							(61,750,000)
OTHER ASSETS LESS LIABILITIES–0.77%							18,693,153
NET ASSETS–100.00%							$2,434,362,609

Investment Abbreviations:
AGM	– Assured Guaranty Municipal Corp.
AMBAC	– American Municipal Bond Assurance Corp.
BAM	– Build America Mutual Assurance Co.
CEP	– Credit Enhancement Provider
CHF	– Swiss Franc
Ctfs.	– Certificates
GNMA	– Government National Mortgage Association
GO	– General Obligation
INS	– Insurer
LOC	– Letter of Credit
NATL	– National Public Finance Guarantee Corp.
NCCU	– North Carolina Central University
PCR	– Pollution Control Revenue Bonds
RAC	– Revenue Anticipation Certificates
RB	– Revenue Bonds
Ref.	– Refunding
RN	– Revenue Notes
VRD	– Variable Rate Demand
Wts.	– Warrants

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

Invesco AMT-Free Municipal Income Fund

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)  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, 2024 was $19,378,500, which represented less than 1% of the Fund’s Net Assets.

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

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

^(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 May 31, 2024 was $60,466,833, which represented 2.48% 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)  Convertible capital appreciation bond. The interest rate shown represents the coupon rate at which the bond will accrue at a specified future date.

^(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 May 31, 2024.

^(l)  Restricted security. The aggregate value of these securities at May 31, 2024 was $2,954,917, which represented less than 1% of the Fund’s Net Assets.

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

^(o)  Floating rate note obligations related to securities held. The interest and fee rates shown reflect the rates in effect at May 31, 2024. At May 31, 2024, the Fund’s investments with a value of $110,624,582 are held by TOB Trusts and serve as collateral for the $61,750,000 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 AMT-Free Municipal Income Fund

Notes to Quarterly Schedule of Portfolio Holdings

May 31, 2024

(Unaudited)

NOTE 1–Additional Valuation Information

Generally Accepted Accounting Principles (“GAAP”) defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment’s assigned level:

Level 1	–	Prices are determined using quoted prices in an active market for identical assets.
Level 2	–	Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.
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 May 31, 2024. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

	Level 1			Level 2			Level 3			Total
Investments in Securities
Municipal Obligations		$–			$2,461,993,066		$	15,426,390			$2,477,419,456
Other Investments - Assets
Investments Matured		–			2,330,812			2,518,071			4,848,883
Total Investments		$–			$2,464,323,878		$	17,944,461			$2,482,268,339

Invesco AMT-Free Municipal Income Fund