Schedule of Investments
May 31, 2024
(Unaudited)
| | | | | | | | | | | | | | |
| | | Interest
Rate | | | Maturity
Date | | | Principal
Amount
(000) | | | Value |
Municipal Obligations–101.29% | | | | | | | | | | | | | | |
New Jersey–87.45% | | | | | | | | | | | | | | |
Atlantic City (City of), NJ; Series 2017 A, Ref. GO Bonds (INS - BAM)(a) | | | 5.00% | | | | 03/01/2042 | | | $ | 1,250 | | | $ 1,272,204 |
Camden (County of), NJ Improvement Authority (The) (KIPP Cooper Norcross Academy) (Social Bonds); Series 2022, RB | | | 6.00% | | | | 06/15/2052 | | | | 1,325 | | | 1,408,214 |
Casino Reinvestment Development Authority, Inc.; | | | | | | | | | | | | | | |
Series 2004, RB (INS - AMBAC)(a) | | | 5.00% | | | | 01/01/2025 | | | | 220 | | | 219,997 |
Series 2014, Ref. RB (INS - AGM)(a) | | | 5.00% | | | | 11/01/2028 | | | | 1,000 | | | 1,005,567 |
Series 2014, Ref. RB (INS - AGM)(a) | | | 5.00% | | | | 11/01/2031 | | | | 2,000 | | | 2,009,191 |
Series 2014, Ref. RB | | | 5.25% | | | | 11/01/2039 | | | | 3,000 | | | 3,005,124 |
Series 2014, Ref. RB | | | 5.25% | | | | 11/01/2044 | | | | 4,990 | | | 4,993,307 |
Essex (County of), NJ Improvement Authority (559 Broad/Hazelwood); Series 2020 A, RB(b) | | | 4.00% | | | | 08/01/2060 | | | | 1,500 | | | 1,241,423 |
Essex (County of), NJ Improvement Authority (CHF-Newark LLC-NJIT Student Housing); Series 2021 A, RB (INS - BAM)(a) | | | 4.00% | | | | 08/01/2051 | | | | 1,040 | | | 970,043 |
Garden State Preservation Trust; | | | | | | | | | | | | | | |
Series 2003 B, RB (INS - AGM)(a)(c) | | | 0.00% | | | | 11/01/2026 | | | | 140 | | | 127,587 |
Series 2005 A, RB (INS - AGM)(a) | | | 5.75% | | | | 11/01/2028 | | | | 4,250 | | | 4,457,602 |
Gloucester (County of), NJ Improvement Authority (The) (Rowan University); | | | | | | | | | | | | | | |
Series 2015, RB | | | 5.00% | | | | 07/01/2033 | | | | 1,400 | | | 1,417,007 |
Series 2019, RB | | | 5.00% | | | | 07/01/2044 | | | | 2,375 | | | 2,486,868 |
Series 2024, RB (INS - BAM)(a) | | | 5.00% | | | | 07/01/2054 | | | | 2,515 | | | 2,640,919 |
Jersey City (City of), NJ Redevelopment Agency (Bayfront Redevelopment); Series 2022, RB | | | 4.00% | | | | 12/15/2031 | | | | 2,000 | | | 2,059,884 |
Lavallette School District; Series 2005, GO Bonds (INS - SGI)(a) | | | 4.20% | | | | 02/01/2025 | | | | 10 | | | 10,003 |
Middlesex (County of), NJ Improvement Authority (New Jersey Health + Life Science Exchange - H-1); Series 2023, RB | | | 5.00% | | | | 08/15/2053 | | | | 8,000 | | | 8,499,996 |
Middlesex (County of), NJ Improvement Authority (Senior Citizens Housing); Series 2000, RB (INS - AMBAC)(a)(d) | | | 5.50% | | | | 09/01/2030 | | | | 20 | | | 20,031 |
New Jersey (State of); Series 2020 A, GO Bonds | | | 4.00% | | | | 06/01/2032 | | | | 4,540 | | | 4,724,543 |
New Jersey (State of) Building Authority; | | | | | | | | | | | | | | |
Series 2016 A, Ref. RB(e)(f) | | | 5.00% | | | | 06/15/2026 | | | | 300 | | | 309,441 |
Series 2016 A, Ref. RB(e)(f) | | | 5.00% | | | | 06/15/2026 | | | | 600 | | | 617,691 |
New Jersey (State of) Economic Development Authority; | | | | | | | | | | | | | | |
Series 1998 B, RB(d) | | | 6.50% | | | | 04/01/2031 | | | | 90 | | | 90,927 |
Series 2015 WW, RB(e)(f) | | | 5.00% | | | | 06/15/2025 | | | | 3,000 | | | 3,046,550 |
Series 2015 WW, RB(e)(f) | | | 5.00% | | | | 06/15/2025 | | | | 3,000 | | | 3,046,550 |
Series 2017 A, Ref. RB (INS - BAM)(a) | | | 5.00% | | | | 07/01/2033 | | | | 3,000 | | | 3,089,778 |
Series 2018 A, RB | | | 5.00% | | | | 06/15/2047 | | | | 3,000 | | | 3,052,661 |
Series 2020, RB | | | 4.00% | | | | 11/01/2038 | | | | 1,000 | | | 993,053 |
New Jersey (State of) Economic Development Authority (Black Horse EHT Urban Renewal LLC); Series 2019 A, RB (Acquired 10/18/2019; Cost $2,000,000)(b)(g) | | | 5.00% | | | | 10/01/2039 | | | | 2,000 | | | 1,277,245 |
New Jersey (State of) Economic Development Authority (Continental Airlines, Inc.); | | | | | | | | | | | | | | |
Series 1999, RB(d) | | | 5.25% | | | | 09/15/2029 | | | | 2,350 | | | 2,352,740 |
Series 2012, RB(d) | | | 5.75% | | | | 09/15/2027 | | | | 900 | | | 900,574 |
New Jersey (State of) Economic Development Authority (Elite Pharmaceuticals, Inc. - 2005); Series 2005 A, RB(d) | | | 6.50% | | | | 09/01/2030 | | | | 20 | | | 17,647 |
New Jersey (State of) Economic Development Authority (Foundation Academy Charter School); | | | | | | | | | | | | | | |
Series 2018 A, RB | | | 5.00% | | | | 07/01/2038 | | | | 350 | | | 352,341 |
Series 2018 A, RB | | | 5.00% | | | | 07/01/2050 | | | | 1,000 | | | 967,420 |
New Jersey (State of) Economic Development Authority (Golden Door Charter School); | | | | | | | | | | | | | | |
Series 2018 A, RB(b) | | | 6.25% | | | | 11/01/2038 | | | | 1,050 | | | 1,095,421 |
Series 2018 A, RB(b) | | | 6.50% | | | | 11/01/2052 | | | | 2,500 | | | 2,611,492 |
New Jersey (State of) Economic Development Authority (Leap Academy University Charter School, Inc.); | | | | | | | | | | | | | | |
Series 2013, RB | | | 6.00% | | | | 10/01/2043 | | | | 3,200 | | | 3,202,366 |
Series 2014 A, RB(b) | | | 6.00% | | | | 10/01/2034 | | | | 515 | | | 516,087 |
New Jersey (State of) Economic Development Authority (Lions Gate); Series 2014, RB | | | 5.25% | | | | 01/01/2044 | | | | 3,815 | | | 3,583,893 |
See accompanying notes which are an integral part of this schedule.
| | |
| | Invesco New Jersey Municipal Fund |
| | | | | | | | | | | | | | |
| | | Interest
Rate | | | Maturity
Date | | | Principal
Amount
(000) | | | Value |
New Jersey–(continued) | | | | | | | | | | | | | | |
New Jersey (State of) Economic Development Authority (Marion P. Thomas Charter School); | | | | | | | | | | | | | | |
Series 2018 A, RB(b) | | | 5.00% | | | | 10/01/2033 | | | $ | 1,000 | | | $ 973,054 |
Series 2018 A, RB(b) | | | 5.25% | | | | 10/01/2038 | | | | 2,500 | | | 2,411,979 |
New Jersey (State of) Economic Development Authority (Newark Downtown District Management Corp.); Series 2019, Ref. RB | | | 5.13% | | | | 06/15/2037 | | | | 2,499 | | | 2,647,761 |
New Jersey (State of) Economic Development Authority (North Star Academy Charter School of Newark, Inc.); Series 2017, RB | | | 5.00% | | | | 07/15/2047 | | | | 2,000 | | | 2,006,454 |
New Jersey (State of) Economic Development Authority (Port Newark Container Terminal LLC); Series 2017, Ref. RB(d) | | | 5.00% | | | | 10/01/2047 | | | | 4,500 | | | 4,532,566 |
New Jersey (State of) Economic Development Authority (Portal North Bridge); Series 2022 A, RB | | | 5.00% | | | | 11/01/2052 | | | | 2,000 | | | 2,083,294 |
New Jersey (State of) Economic Development Authority (Provident Group - Rowan Properties LLC - Rowan University Student Housing); Series 2015 A, RB | | | 5.00% | | | | 01/01/2030 | | | | 50 | | | 50,032 |
New Jersey (State of) Economic Development Authority (Team Academy Charter School); Series 2018 A, RB | | | 5.00% | | | | 12/01/2048 | | | | 3,000 | | | 3,018,124 |
New Jersey (State of) Economic Development Authority (The Goethals Bridge Replacement); Series 2013, RB(d) | | | 5.38% | | | | 01/01/2043 | | | | 8,650 | | | 8,653,467 |
New Jersey (State of) Economic Development Authority (UMM Energy Partners, LLC); | | | | | | | | | | | | | | |
Series 2012 A, RB(d) | | | 5.00% | | | | 06/15/2037 | | | | 1,515 | | | 1,509,827 |
Series 2012 A, RB(d) | | | 5.13% | | | | 06/15/2043 | | | | 3,250 | | | 3,220,357 |
New Jersey (State of) Educational Facilities Authority (Georgian Court University); | | | | | | | | | | | | | | |
Series 2017 G, Ref. RB | | | 5.00% | | | | 07/01/2030 | | | | 1,395 | | | 1,358,612 |
Series 2017 G, Ref. RB | | | 5.00% | | | | 07/01/2033 | | | | 1,590 | | | 1,518,400 |
Series 2017 G, Ref. RB | | | 5.00% | | | | 07/01/2035 | | | | 1,485 | | | 1,387,673 |
Series 2017 G, Ref. RB | | | 5.00% | | | | 07/01/2036 | | | | 1,640 | | | 1,509,704 |
New Jersey (State of) Educational Facilities Authority (Montclair University); Series 2023 A, RB | | | 4.63% | | | | 09/01/2048 | | | | 2,000 | | | 2,039,475 |
New Jersey (State of) Educational Facilities Authority (NACT Somerset, Inc.); Series 2024, RB(b) | | | 7.00% | | | | 08/01/2054 | | | | 4,000 | | | 3,964,735 |
New Jersey (State of) Educational Facilities Authority (New Jersey City University); Series 2021, Ref. RB (INS - AGM)(a) | | | 4.00% | | | | 07/01/2036 | | | | 765 | | | 729,318 |
New Jersey (State of) Educational Facilities Authority (Princeton University); Series 2024, RB | | | 4.00% | | | | 03/01/2053 | | | | 3,000 | | | 2,881,105 |
New Jersey (State of) Educational Facilities Authority (Rider University); | | | | | | | | | | | | | | |
Series 2017 F, RB | | | 5.00% | | | | 07/01/2035 | | | | 185 | | | 164,391 |
Series 2017 F, RB | | | 5.00% | | | | 07/01/2036 | | | | 400 | | | 351,217 |
New Jersey (State of) Educational Facilities Authority (Stevens Institute of Technology) (Green Bonds); | | | | | | | | | | | | | | |
Series 2020 A, RB | | | 5.00% | | | | 07/01/2045 | | | | 3,000 | | | 3,035,797 |
Series 2020 A, RB | | | 4.00% | | | | 07/01/2050 | | | | 3,000 | | | 2,600,821 |
New Jersey (State of) Educational Facilities Authority (William Paterson University of New Jersey (The)); Series 2017 B, RB (INS - AGM)(a) | | | 5.00% | | | | 07/01/2047 | | | | 1,990 | | | 2,027,455 |
New Jersey (State of) Health Care Facilities Financing Authority; Series 2017, Ref. RB | | | 5.00% | | | | 10/01/2038 | | | | 2,000 | | | 2,062,445 |
New Jersey (State of) Health Care Facilities Financing Authority (Marlboro Psychiatric Hospital); Series 2013, RB(e)(f) | | | 5.00% | | | | 08/12/2024 | | | | 5,000 | | | 5,010,045 |
New Jersey (State of) Health Care Facilities Financing Authority (RWJ Barnabas Health Obligated Group); | | | | | | | | | | | | | | |
Series 2014, Ref. RB(e)(f) | | | 5.00% | | | | 08/13/2024 | | | | 3,000 | | | 3,006,117 |
Series 2024, RB | | | 5.25% | | | | 07/01/2054 | | | | 5,000 | | | 5,418,790 |
New Jersey (State of) Health Care Facilities Financing Authority (University Hospital); Series 2015 A, RB (INS - AGM)(a) | | | 5.00% | | | | 07/01/2046 | | | | 2,000 | | | 2,006,845 |
New Jersey (State of) Health Care Facilities Financing Authority (Valley Health System Obligated Group); Series 2019, RB | | | 5.00% | | | | 07/01/2030 | | | | 1,250 | | | 1,325,892 |
New Jersey (State of) Higher Education Student Assistance Authority; | | | | | | | | | | | | | | |
Series 2019 C, Ref. RB(d) | | | 3.63% | | | | 12/01/2049 | | | | 1,000 | | | 778,271 |
Series 2021 C, RB(d) | | | 3.25% | | | | 12/01/2051 | | | | 500 | | | 352,626 |
Series 2023 B, RB(d) | | | 4.00% | | | | 12/01/2044 | | | | 2,000 | | | 1,871,074 |
Series 2023 C, RB(d) | | | 5.00% | | | | 12/01/2053 | | | | 2,000 | | | 1,915,557 |
New Jersey (State of) Housing & Mortgage Finance Agency; | | | | | | | | | | | | | | |
Series 2018 A, Ref. RB | | | 3.95% | | | | 11/01/2043 | | | | 870 | | | 791,754 |
Series 2018 BB, Ref. RB(d) | | | 3.80% | | | | 10/01/2032 | | | | 765 | | | 735,495 |
Series 2019 A, Ref. RB | | | 3.00% | | | | 11/01/2044 | | | | 510 | | | 382,731 |
Series 2019 A, Ref. RB | | | 3.05% | | | | 11/01/2049 | | | | 865 | | | 636,937 |
Series 2020 E, Ref. RB | | | 2.45% | | | | 10/01/2050 | | | | 515 | | | 333,369 |
New Jersey (State of) Housing & Mortgage Finance Agency (Riverview Towers Apartments); Series 2024, RB (CEP - Federal Housing Administration) | | | 5.25% | | | | 12/20/2065 | | | | 2,250 | | | 2,286,208 |
See accompanying notes which are an integral part of this schedule.
| | |
| | Invesco New Jersey Municipal Fund |
| | | | | | | | | | | | | | |
| | | Interest
Rate | | | Maturity
Date | | | Principal
Amount
(000) | | | Value |
New Jersey–(continued) | | | | | | | | | | | | | | |
New Jersey (State of) Housing & Mortgage Finance Agency (Social Bonds); | | | | | | | | | | | | | | |
Series 2023 J, RB | | | 4.70% | | | | 10/01/2048 | | | $ | 3,250 | | | $ 3,265,095 |
Series 2024 K, RB | | | 6.00% | | | | 10/01/2055 | | | | 5,000 | | | 5,374,874 |
New Jersey (State of) Transportation Trust Fund Authority; | | | | | | | | | | | | | | |
Series 2008 A, RB (INS - BAM)(a)(c) | | | 0.00% | | | | 12/15/2037 | | | | 12,000 | | | 6,838,740 |
Series 2008 A, RB(c) | | | 0.00% | | | | 12/15/2038 | | | | 2,000 | | | 1,066,497 |
Series 2010 A, RB (INS - BAM)(a)(c) | | | 0.00% | | | | 12/15/2028 | | | | 1,200 | | | 1,007,263 |
Series 2018 A, Ref. RB | | | 4.25% | | | | 12/15/2038 | | | | 7,790 | | | 7,830,789 |
Series 2018 A, Ref. RN | | | 5.00% | | | | 06/15/2031 | | | | 3,540 | | | 3,610,365 |
Series 2019 BB, RB | | | 4.00% | | | | 06/15/2050 | | | | 5,930 | | | 5,495,744 |
Series 2022, RB | | | 5.50% | | | | 06/15/2050 | | | | 1,500 | | | 1,628,620 |
Series 2023 AA, Ref. RB | | | 4.25% | | | | 06/15/2044 | | | | 2,000 | | | 1,965,003 |
Series 2023 BB, RB | | | 5.25% | | | | 06/15/2050 | | | | 2,000 | | | 2,144,050 |
New Jersey (State of) Turnpike Authority; | | | | | | | | | | | | | | |
Series 2021 A, RB | | | 4.00% | | | | 01/01/2042 | | | | 5,975 | | | 5,988,371 |
Series 2022 B, RB | | | 5.25% | | | | 01/01/2052 | | | | 3,000 | | | 3,250,301 |
Series 2024 A, Ref. RB | | | 4.00% | | | | 01/01/2035 | | | | 3,000 | | | 3,125,416 |
Series 2024 B, RB | | | 5.25% | | | | 01/01/2054 | | | | 3,000 | | | 3,265,451 |
Series 2024 C, Ref. RB | | | 5.00% | | | | 01/01/2045 | | | | 5,000 | | | 5,315,033 |
Newark (City of), NJ; | | | | | | | | | | | | | | |
Series 2015 A, GO Bonds | | | 5.00% | | | | 07/15/2029 | | | | 3,000 | | | 3,034,289 |
Series 2015 B, GO Bonds (CEP - Oregon School Bond Guaranty) | | | 5.00% | | | | 07/15/2029 | | | | 430 | | | 434,915 |
Newark (City of), NJ Housing Authority; | | | | | | | | | | | | | | |
Series 2007, Ref. RB (INS - NATL)(a) | | | 5.00% | | | | 01/01/2032 | | | | 760 | | | 802,937 |
Series 2017, Ref. RB | | | 4.00% | | | | 01/01/2037 | | | | 1,000 | | | 1,001,888 |
Newark (City of), NJ Parking Authority (The); | | | | | | | | | | | | | | |
Series 2023, RB (INS - AGM)(a) | | | 5.25% | | | | 02/01/2043 | | | | 375 | | | 391,063 |
Series 2023, RB (INS - AGM)(a) | | | 5.50% | | | | 02/01/2051 | | | | 500 | | | 523,261 |
Passaic (County of), NJ Improvement Authority (The) (Paterson Arts & Science Charter School); | | | | | | | | | | | | | | |
Series 2023, RB | | | 5.38% | | | | 07/01/2053 | | | | 1,000 | | | 1,015,287 |
Series 2023, RB | | | 5.50% | | | | 07/01/2058 | | | | 1,000 | | | 1,019,863 |
Passaic (County of), NJ Valley Water Commission; Series 2023, RB (INS - AGM)(a) | | | 4.00% | | | | 12/01/2053 | | | | 3,000 | | | 2,890,546 |
South Jersey Transportation Authority; | | | | | | | | | | | | | | |
Series 2020 A, RB | | | 5.00% | | | | 11/01/2045 | | | | 2,000 | | | 2,058,357 |
Series 2020 A, RB (INS - BAM)(a) | | | 4.00% | | | | 11/01/2050 | | | | 1,000 | | | 949,848 |
Series 2022 A, RB | | | 4.63% | | | | 11/01/2047 | | | | 1,000 | | | 1,006,182 |
Series 2022 A, RB | | | 5.25% | | | | 11/01/2052 | | | | 2,000 | | | 2,100,292 |
Tobacco Settlement Financing Corp.; | | | | | | | | | | | | | | |
Series 2018 A, Ref. RB | | | 5.00% | | | | 06/01/2046 | | | | 4,000 | | | 4,069,443 |
Series 2018 A, Ref. RB | | | 5.25% | | | | 06/01/2046 | | | | 3,000 | | | 3,090,258 |
Series 2018 B, Ref. RB | | | 5.00% | | | | 06/01/2046 | | | | 4,830 | | | 4,862,924 |
Union (County of), NJ Improvement Authority; Series 1998 A, RB (INS - NATL)(a)(d) | | | 5.00% | | | | 03/01/2028 | | | | 55 | | | 55,065 |
| | | | | | | | | | | | | | | 247,761,191 |
| | | | |
Puerto Rico–8.05% | | | | | | | | | | | | | | |
Children’s Trust Fund; Series 2002, RB | | | 5.63% | | | | 05/15/2043 | | | | 15,000 | | | 15,177,739 |
Corp. Para El Financiamiento Publico de Puerto Rico; Series 2011, RB(c)(h) | | | 0.00% | | | | 08/01/2026 | | | | 5,235 | | | 0 |
GDB Debt Recovery Authority of Puerto Rico; Series 2023, RB | | | 7.50% | | | | 08/20/2040 | | | | 181 | | | 169,656 |
Puerto Rico (Commonwealth of); | | | | | | | | | | | | | | |
Series 2021 A, GO Bonds(c) | | | 0.00% | | | | 07/01/2024 | | | | 35 | | | 34,462 |
Series 2021 A, GO Bonds(c) | | | 0.00% | | | | 07/01/2033 | | | | 273 | | | 181,289 |
Series 2021 A-1, GO Bonds | | | 5.38% | | | | 07/01/2025 | | | | 236 | | | 238,306 |
Series 2021 A-1, GO Bonds | | | 5.63% | | | | 07/01/2027 | | | | 234 | | | 244,796 |
Series 2021 A-1, GO Bonds | | | 5.63% | | | | 07/01/2029 | | | | 230 | | | 247,884 |
Series 2021 A-1, GO Bonds | | | 5.75% | | | | 07/01/2031 | | | | 224 | | | 249,354 |
Series 2021 A-1, GO Bonds | | | 4.00% | | | | 07/01/2033 | | | | 212 | | | 212,109 |
Series 2021 A-1, GO Bonds | | | 4.00% | | | | 07/01/2035 | | | | 191 | | | 187,308 |
Series 2021 A-1, GO Bonds | | | 4.00% | | | | 07/01/2037 | | | | 164 | | | 158,763 |
Series 2021 A-1, GO Bonds | | | 4.00% | | | | 07/01/2041 | | | | 222 | | | 206,807 |
See accompanying notes which are an integral part of this schedule.
| | |
| | Invesco New Jersey Municipal Fund |
| | | | | | | | | | | | | | | | |
| | | Interest
Rate | | | Maturity
Date | | | Principal
Amount
(000) | | | Value | |
Puerto Rico–(continued) | | | | | | | | | | | | | | | | |
Series 2021 A-1, GO Bonds | | | 4.00% | | | | 07/01/2046 | | | $ | 231 | | | $ | 209,271 | |
|
| |
Subseries 2022, RN(c) | | | 0.00% | | | | 11/01/2043 | | | | 937 | | | | 581,965 | |
|
| |
Subseries 2022, RN(c) | | | 0.00% | | | | 11/01/2051 | | | | 5,335 | | | | 2,761,072 | |
|
| |
Puerto Rico (Commonwealth of) Electric Power Authority; | | | | | | | | | | | | | | | | |
Series 2010 AAA, RB(i) | | | 5.25% | | | | 07/01/2030 | | | | 500 | | | | 132,500 | |
|
| |
Series 2010 AAA, RB(i) | | | 5.25% | | | | 07/01/2031 | | | | 550 | | | | 145,750 | |
|
| |
Series 2012 A, RB(i) | | | 5.05% | | | | 07/01/2042 | | | | 45 | | | | 11,925 | |
|
| |
Puerto Rico (Commonwealth of) Industrial, Tourist, Educational, Medical & Environmental Control Facilities Financing Authority (AES Puerto Rico); | | | | | | | | | | | | | | | | |
Series 2023 A, RB | | | 6.63% | | | | 01/01/2027 | | | | 15 | | | | 14,272 | |
|
| |
Series 2023 A, RB | | | 6.63% | | | | 01/01/2028 | | | | 111 | | | | 108,632 | |
|
| |
Puerto Rico Sales Tax Financing Corp.; | | | | | | | | | | | | | | | | |
Series 2018 A-1, RB(c) | | | 0.00% | | | | 07/01/2051 | | | | 6,271 | | | | 1,491,477 | |
|
| |
Series 2019 A-2, RB | | | 4.54% | | | | 07/01/2053 | | | | 60 | | | | 57,620 | |
|
| |
| | | | | | | | | | | | | | | 22,822,957 | |
|
| |
| | | | |
New York–4.05% | | | | | | | | | | | | | | | | |
New York & New Jersey (States of) Port Authority; | | | | | | | | | | | | | | | | |
Series 2019 220, RB(d) | | | 4.00% | | | | 11/01/2059 | | | | 2,000 | | | | 1,781,419 | |
|
| |
Series 2019, RB(d) | | | 5.00% | | | | 11/01/2049 | | | | 1,500 | | | | 1,518,670 | |
|
| |
Series 2020 221, RB(d) | | | 4.00% | | | | 07/15/2045 | | | | 4,000 | | | | 3,743,480 | |
|
| |
Two Hundred Sixth Series 2017, Ref. RB(d) | | | 5.00% | | | | 11/15/2037 | | | | 850 | | | | 872,670 | |
|
| |
Two Hundred Thirty Fourth Series 2022, Ref. RB(d) | | | 5.50% | | | | 08/01/2052 | | | | 500 | | | | 534,301 | |
|
| |
Two Hundred Twenty Third Series 2021, Ref. RB(d) | | | 4.00% | | | | 07/15/2046 | | | | 1,615 | | | | 1,485,908 | |
|
| |
Two Hundred Twenty Three Series 2021, Ref. RB(d) | | | 4.00% | | | | 07/15/2041 | | | | 1,635 | | | | 1,538,241 | |
|
| |
| | | | | | | | | | | | | | | 11,474,689 | |
|
| |
| | | | |
Virgin Islands–0.72% | | | | | | | | | | | | | | | | |
Tobacco Settlement Financing Corp.; | | | | | | | | | | | | | | | | |
Series 2006, RB(c) | | | 0.00% | | | | 05/15/2035 | | | | 1,100 | | | | 518,941 | |
|
| |
Series 2006, RB(c) | | | 0.00% | | | | 05/15/2035 | | | | 3,100 | | | | 1,366,047 | |
|
| |
Virgin Islands (Government of) Water & Power Authority (Electric System); | | | | | | | | | | | | | | | | |
Series 2007 A, RB | | | 5.00% | | | | 07/01/2024 | | | | 50 | | | | 49,878 | |
|
| |
Series 2007 A, RB | | | 5.00% | | | | 07/01/2026 | | | | 15 | | | | 14,214 | |
|
| |
Series 2007 A, RB | | | 5.00% | | | | 07/01/2027 | | | | 85 | | | | 79,707 | |
|
| |
| | | | | | | | | | | | | | | 2,028,787 | |
|
| |
| | | | |
Guam–0.70% | | | | | | | | | | | | | | | | |
Guam (Territory of); Series 2021 F, Ref. RB | | | 4.00% | | | | 01/01/2036 | | | | 2,000 | | | | 1,964,844 | |
|
| |
Guam Housing Corp.; Series 1998 A, RB (CEP - FHLMC)(d) | | | 5.75% | | | | 09/01/2031 | | | | 10 | | | | 10,003 | |
|
| |
| | | | | | | | | | | | | | | 1,974,847 | |
|
| |
| | | | |
Northern Mariana Islands–0.32% | | | | | | | | | | | | | | | | |
Northern Mariana Islands (Commonwealth of) Ports Authority; Series 1998 A, RB(d) | | | 6.25% | | | | 03/15/2028 | | | | 935 | | | | 903,013 | |
|
| |
Total Municipal Obligations (Cost $287,641,616) | | | | | | | | | | | | | | | 286,965,484 | |
|
| |
| | | | |
U.S. Dollar Denominated Bonds & Notes–0.01% | | | | | | | | | | | | | | | | |
Puerto Rico–0.01% | | | | | | | | | | | | | | | | |
AES Puerto Rico, Inc.(h) (Cost $25,006) | | | 12.50% | | | | 03/04/2026 | | | | 26 | | | | 24,920 | |
|
| |
| | | | |
| | | | | | | | | Shares | | | | |
Preferred Stocks–0.00% | | | | | | | | | | | | | | | | |
AES Puerto Rico, Inc., Pfd.
(Cost $0)(h) | | | | | | | | | | | 2,432 | | | | 0 | |
|
| |
TOTAL INVESTMENTS IN SECURITIES(j)–101.30% (Cost $287,666,622) | | | | | | | | | | | | | | | 286,990,404 | |
|
| |
OTHER ASSETS LESS LIABILITIES–(1.30)% | | | | | | | | | | | | | | | (3,689,117 | ) |
|
| |
NET ASSETS–100.00% | | | | | | | | | | | | | | $ | 283,301,287 | |
|
| |
See accompanying notes which are an integral part of this schedule.
| | |
| | Invesco New Jersey Municipal Fund |
Investment Abbreviations:
| | |
| AGM | | - Assured Guaranty Municipal Corp. |
| AMBAC | | - American Municipal Bond Assurance Corp. |
| BAM | | - Build America Mutual Assurance Co. |
| CEP | | - Credit Enhancement Provider |
| FHLMC | | - Federal Home Loan Mortgage Corp. |
| GO | | - General Obligation |
| INS | | - Insurer |
| NATL | | - National Public Finance Guarantee Corp. |
| Pfd. | | - Preferred |
| RB | | - Revenue Bonds |
| Ref. | | - Refunding |
| RN | | - Revenue Notes |
| SGI | | - Syncora Guarantee, Inc. |
Notes to Schedule of Investments:
| (a) | Principal and/or interest payments are secured by the bond insurance company listed. |
| (b) | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at May 31, 2024 was $14,091,436, which represented 4.97% of the Fund’s Net Assets. |
| (c) | Zero coupon bond issued at a discount. |
| (d) | Security subject to the alternative minimum tax. |
| (e) | Advance refunded; secured by an escrow fund of U.S. Government obligations or other highly rated collateral. |
| (f) | Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put. |
| (g) | Restricted security. The value of this security at May 31, 2024 represented less than 1% of the Fund’s Net Assets. |
| (h) | Security valued using significant unobservable inputs (Level 3). See Note 1. |
| (i) | 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 $290,175, which represented less than 1% of the Fund’s Net Assets. |
| (j) | 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 Co. | | | 5.63% | |
|
| |
Build America Mutual Assurance Co. | | | 5.84% | |
|
| |
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.
| | |
| | Invesco New Jersey Municipal Fund |
Notes to Quarterly Schedule of Portfolio Holdings
May 31, 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 | | | $– | | | | | | | | $286,965,484 | | | | | | | | $ 0 | | | | | | | | $286,965,484 | |
|
| |
U.S. Dollar Denominated Bonds & Notes | | | – | | | | | | | | – | | | | | | | | 24,920 | | | | | | | | 24,920 | |
|
| |
Preferred Stocks | | | – | | | | | | | | – | | | | | | | | 0 | | | | | | | | 0 | |
|
| |
Total Investments in Securities | | | – | | | | | | | | 286,965,484 | | | | | | | | 24,920 | | | | | | | | 286,990,404 | |
|
| |
| | | | | | | |
Other Investments - Assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
| |
Investments Matured | | | – | | | | | | | | 203,820 | | | | | | | | – | | | | | | | | 203,820 | |
|
| |
Total Investments | | | $– | | | | | | | | $287,169,304 | | | | | | | | $24,920 | | | | | | | | $287,194,224 | |
|
| |
| | |
| | Invesco New Jersey Municipal Fund |
