Aim Tax Exempt Funds NPORT-P Invesco Pennsylvania Municipal Fund (May 2024 report)

Schedule of Investments

May 31, 2024

(Unaudited)

	Interest Rate		Maturity  Date		Principal Amount (000)		Value
Municipal Obligations–100.12%
Pennsylvania–85.76%
Aliquippa School District; Series 2018, Ref. GO Bonds (INS - BAM)(a)		4.00%		12/01/2041	$	1,750	$	1,746,175
Allegheny (County of), PA; Series 2016 C-76, GO Bonds		5.00%		11/01/2041		14,320		14,633,332
Allegheny (County of), PA Airport Authority;
Series 2021 A, RB (INS - AGM)(a)(b)		4.00%		01/01/2056		5,555		4,934,450
Series 2021 A, RB(b)		5.00%		01/01/2056		4,000		4,082,807
Allegheny (County of), PA Airport Authority (Pittsburgh Airport); Series 2023 A, RB (INS - AGM)(a)(b)		5.50%		01/01/2053		810		867,436
Allegheny (County of), PA Higher Education Building Authority (Chatham University);
Series 2022, Ref. RB		5.25%		09/01/2034		535		512,873
Series 2022, Ref. RB		5.25%		09/01/2035		540		515,643
Allegheny (County of), PA Higher Education Building Authority (Robert Morris University);
Series 1998 A, Ref. RB (INS - BAM)(a)		6.00%		05/01/2028		100		102,427
Series 2017, RB		5.00%		10/15/2037		1,365		1,284,884
Series 2017, RB		5.00%		10/15/2047		1,500		1,295,830
Allegheny (County of), PA Hospital Development Authority (Allegheny Health Network Obligated Group Issue); Series 2018 A, Ref. RB		5.00%		04/01/2047		13,250		13,350,650
Allegheny (County of), PA Hospital Development Authority (University of Pittsburgh Medical Center); Series 2007 A-1, RB (3 mo. Term SOFR + 0.82%)(c)		4.56%		02/01/2037		430		408,882
Allegheny (County of), PA Industrial Development Authority (Propel Charter School - Sunrise); Series 2013, RB		6.00%		07/15/2038		1,600		1,601,511
Allegheny (County of), PA Residential Finance Authority (Allegheny Independence House Apartments); Series 2007 B, RB (CEP - GNMA)(b)		6.10%		01/20/2043		1,070		1,070,456
Allegheny (County of), PA Sanitary Authority;
Series 2015, Ref. RB		5.00%		12/01/2045		2,120		2,128,886
Series 2022, RB		5.75%		06/01/2052		3,250		3,622,743
Allentown (City of), PA Neighborhood Improvement Zone Development Authority;
Series 2022, Ref. RB		5.00%		05/01/2042		2,000		2,031,799
Series 2023, RB(d)		6.25%		05/01/2042		3,250		3,170,794
Allentown (City of), PA Neighborhood Improvement Zone Development Authority (City Center);
Series 2018, RB(d)		5.00%		05/01/2042		2,415		2,380,821
Series 2018, RB(d)		5.38%		05/01/2042		4,000		3,880,687
Series 2024, RB(d)		5.00%		05/01/2042		3,750		3,709,923
Allentown City School District;
Series 2018 B, GO Bonds (INS - BAM)(a)		5.00%		06/01/2036		1,250		1,262,147
Series 2018 B, GO Bonds (INS - BAM)(a)		5.00%		06/01/2037		1,255		1,264,577
Berks (County of), PA Industrial Development Authority (Highlands at Wyomissing (The));
Series 2017 A, Ref. RB		5.00%		05/15/2037		1,125		1,132,320
Series 2017 A, Ref. RB		5.00%		05/15/2042		1,000		983,687
Series 2017 C, RB		5.00%		05/15/2042		600		590,212
Series 2017 C, RB		5.00%		05/15/2047		475		454,977
Berks (County of), PA Industrial Development Authority (Tower Health); Series 2017, Ref. RB		5.00%		11/01/2050		8,480		4,291,061
Berks (County of), PA Municipal Authority (Reading Hospital Medical Center); Series 2012 A, RB		5.00%		11/01/2040		1,000		514,159
Bethlehem Area School District; Series 2015 A, GO Bonds (INS - BAM)(a)		5.00%		08/01/2035		3,000		3,034,447
Bucks (County of), PA Industrial Development Authority (Pennswood Village); Series 2018, Ref. RB		5.00%		10/01/2037		270		273,446
Cheltenham (Township of), PA; Series 2018, GO Bonds		4.00%		07/01/2048		2,660		2,402,945
Chester (County of), PA Health & Education Facilities Authority (Simpson Senior Services);
Series 2019, Ref. RB (Acquired 12/18/2019; Cost $ 132,281)(e)		3.25%		12/01/2029		135		109,282
Series 2019, Ref. RB (Acquired 12/18/2019; Cost $ 299,910)(e)		4.00%		12/01/2039		305		192,386
Series 2019, Ref. RB (Acquired 12/18/2019-08/24/2021; Cost $ 7,408,219)(e)		5.00%		12/01/2051		8,000		4,880,142
Chester (County of), PA Industrial Development Authority (Avon Grove Charter School); Series 2017 A, Ref. RB		5.00%		12/15/2051		770		711,818
Chester (County of), PA Industrial Development Authority (Collegium Charter School); Series 2017 A, RB		5.25%		10/15/2047		895		832,376
Chester (County of), PA Industrial Development Authority (Longwood Gardens) (Sustainability Bonds); Series 2019, RB		5.00%		12/01/2044		1,440		1,508,165
Chester (County of), PA Industrial Development Authority (Renaissance Academy Charter School); Series 2014, RB		5.00%		10/01/2044		2,215		2,046,679

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

       Invesco Pennsylvania Municipal Fund

	Interest Rate		Maturity  Date		Principal Amount (000)		Value
Pennsylvania–(continued)
Chester (County of), PA Industrial Development Authority (Sustainability Bonds); Series 2021, RB		4.00%		12/01/2051	$	10,340	$	9,526,116
Chester (County of), PA Industrial Development Authority (University Student Housing, LLC at West Chester University of Pennsylvania);
Series 2013 A, RB		5.00%		08/01/2035		1,000		997,394
Series 2013, RB		5.00%		08/01/2045		750		706,968
Clairton (City of), PA Municipal Authority; Series 2012 B, RB(f)(g)		5.00%		06/04/2024		2,885		2,885,075
Clarion (County of), PA Industrial Development Authority (Clarion University Foundation, Inc. Student Housing at Clarion University of Pennsylvania);
Series 2014 A, RB		5.00%		07/01/2034		2,310		2,310,964
Series 2014 A, RB		5.00%		07/01/2045		1,000		999,989
Series 2014, Ref. RB		5.00%		07/01/2024		1,220		1,220,741
Series 2014, Ref. RB		5.00%		07/01/2029		2,430		2,431,148
Series 2014, Ref. RB		5.00%		07/01/2033		3,500		3,501,496
Coatesville School District;
Series 2020 A, GO Bonds (INS - BAM)(a)(h)		0.00%		10/01/2034		300		188,514
Series 2020 A, GO Bonds (INS - BAM)(a)(h)		0.00%		10/01/2038		2,700		1,358,355
Series 2020 B, Ref. GO Bonds (INS - BAM)(a)(h)		0.00%		10/01/2033		500		329,415
Series 2020 B, Ref. GO Bonds (INS - BAM)(a)(h)		0.00%		10/01/2034		980		615,812
Series 2020 C, Ref. GO Notes (INS - BAM)(a)(h)		0.00%		10/01/2033		640		421,651
Commonwealth Financing Authority;
Series 2018, RB(i)(j)		5.00%		06/01/2034		2,500		2,612,177
Series 2018, RB(i)(j)		5.00%		06/01/2035		500		522,019
Series 2018, RB (INS - AGM)(a)		4.00%		06/01/2039		2,725		2,675,554
Cumberland (County of), PA Municipal Authority (Diakon Lutheran); Series 2015, Ref. RB		5.00%		01/01/2038		630		632,611
Cumberland (County of), PA Municipal Authority (Messiah Village); Series 2018, Ref. RB		5.00%		07/01/2035		3,210		3,177,605
Dallas Area Municipal Authority (Misericordia University);
Series 2019, Ref. RB		5.00%		05/01/2039		1,050		963,531
Series 2019, Ref. RB		5.00%		05/01/2048		4,000		3,495,892
Dauphin (County of), PA General Authority (Pinnacle Health System); Series 2016 A, Ref. RB		5.00%		06/01/2034		510		519,201
Delaware (County of), PA Authority (Eastern University); Series 2012, RB		5.25%		10/01/2032		5,215		5,143,722
Delaware (County of), PA Authority (Elywn);
Series 2017, Ref. RB		5.00%		06/01/2027		255		253,950
Series 2017, Ref. RB		5.00%		06/01/2037		3,500		3,323,432
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
Delaware (County of), PA Industrial Development Authority (Mercy Health Corp. of Southeastern PA); Series 2016 A, RB(d)		5.13%		06/01/2046		2,080		1,981,173
Delaware (State of) River Port Authority; Series 2013, RB		5.00%		01/01/2040		2,510		2,512,229
Delaware Valley Regional Finance Authority; Series 2002, RB		5.75%		07/01/2032		1,000		1,135,644
East Hempfield (Township of), PA Industrial Development Authority (Student Services, Inc. Student Housing at Millersville University of Pennsylvania); Series 2014, RB(f)(g)		5.00%		07/01/2024		250		250,122
East Hempfield (Township of), PA Industrial Development Authority (Willow Valley Communities);
Series 2016, Ref. RB		5.00%		12/01/2030		630		633,437
Series 2016, Ref. RB		5.00%		12/01/2039		370		370,928
Erie (City & County of), PA Water Authority; Series 2018 A, Ref. RB (INS - AGM)(a)		5.00%		12/01/2043		1,280		1,335,039
Erie (City of), PA Higher Education Building Authority (AICUP Financing Program);
Series 2021, RB		4.00%		05/01/2036		300		271,167
Series 2021, RB		4.00%		05/01/2041		730		611,206
Series 2021, RB		5.00%		05/01/2047		480		441,014
Erie (City of), PA Higher Education Building Authority (Gannon University); Series 2013, RB		5.00%		05/01/2038		7,840		7,700,545
Franklin (County of), PA Industrial Development Authority (Menno-Haven, Inc.);
Series 2018, Ref. RB		5.00%		12/01/2043		475		428,409
Series 2018, Ref. RB		5.00%		12/01/2053		3,700		3,110,858
Series 2019, RB		5.00%		12/01/2039		755		708,480
Geisinger Authority (Geisinger Health System);
Series 2017 A-1, Ref. RB		5.00%		02/15/2045		16,655		16,834,031
Series 2017 A-1, Ref. RB		4.00%		02/15/2047		5,000		4,698,225
Lancaster (City of), PA Industrial Development Authority (Landis Homes Retirement Community); Series 2021, Ref. RB		4.00%		07/01/2056		1,800		1,324,352

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

       Invesco Pennsylvania Municipal Fund

	Interest Rate		Maturity  Date		Principal Amount (000)		Value
Pennsylvania–(continued)
Lancaster (City of), PA Industrial Development Authority (Willow Valley Communities);
Series 2019, RB		4.00%		12/01/2044	$	1,150	$	988,767
Series 2019, RB		5.00%		12/01/2049		3,855		3,727,940
Lancaster (County of), PA Hospital Authority (Brethren Village); Series 2017, Ref. RB		5.13%		07/01/2037		1,135		1,091,532
Lancaster (County of), PA Hospital Authority (Landis Homes Retirement Community); Series 2015, Ref. RB		5.00%		07/01/2045		625		579,642
Lancaster (County of), PA Hospital Authority (Masonic Villages);
Series 2015, Ref. RB		5.00%		11/01/2035		210		210,460
Series 2023, Ref. RB		5.13%		11/01/2038		1,000		1,020,729
Lancaster (County of), PA Hospital Authority (Penn State Health); Series 2021, RB		5.00%		11/01/2051		1,550		1,575,112
Latrobe (City of), PA Industrial Development Authority (Seton Hill University);
Series 2021, Ref. RB		4.00%		03/01/2046		485		385,751
Series 2021, Ref. RB		4.00%		03/01/2051		485		367,722
Lehigh (County of), PA (Lehigh Valley Health Network);
Series 2019 A, Ref. RB		5.00%		07/01/2044		4,000		4,086,830
Series 2019, Ref. RB		4.00%		07/01/2049		5,500		5,068,101
Lehigh (County of), PA Authority; Series 2024, Ref. RB (INS - BAM)(a)		4.25%		12/01/2053		2,500		2,399,542
Lehigh (County of), PA General Purpose Authority; Series 2023, RB		7.00%		06/01/2053		2,310		2,432,691
Lehigh (County of), PA General Purpose Authority (Kidspeace Obligation Group);
Series 2014 A, RB		7.50%		02/01/2044		4,953		4,142,139
Series 2014 B, RB(k)		7.50%		02/01/2044		3,735		2,098,315
Series 2014 C, RB(h)(l)		0.00%		02/01/2044		3,238		21,852
Lehigh (County of), PA General Purpose Authority (Lehigh Valley Academy); Series 2022, RB		4.00%		06/01/2052		3,750		3,040,095
Lehigh (County of), PA General Purpose Authority (Muhlenberg College);
Series 2024, Ref. RB		5.25%		02/01/2049		2,200		2,281,185
Series 2024, Ref. RB		5.25%		02/01/2054		1,600		1,653,658
Littlestown Area School District; Series 2023 A, GO Bonds (INS - BAM)(a)		5.00%		10/01/2050		1,400		1,460,345
Maxatawny (Township of), PA Municipal Authority (Diakon Lutheran Social Ministries);
Series 2022 A, RB		5.00%		01/01/2042		930		936,376
Series 2022 A, RB		4.50%		01/01/2045		800		736,369
Montgomery (County of), PA; Series 2023, RB(d)		6.50%		09/01/2043		3,120		3,127,922
Montgomery (County of), PA Higher Education & Health Authority (Holy Redeemer Health System); Series 2014 A, Ref. RB		5.00%		10/01/2027		390		383,740
Montgomery (County of), PA Higher Education & Health Authority (Philadelphia Presbytery Homes, Inc.);
Series 2017, Ref. RB		5.00%		12/01/2037		750		754,292
Series 2017, Ref. RB		5.00%		12/01/2047		1,000		943,298
Montgomery (County of), PA Higher Education & Health Authority (Thomas Jefferson University);
Series 2019, Ref. RB		4.00%		09/01/2044		1,000		930,620
Series 2019, Ref. RB		4.00%		09/01/2049		5,500		5,018,184
Montgomery (County of), PA Industrial Development Authority; Series 2023, RB		5.25%		11/15/2053		1,000		1,020,236
Montgomery (County of), PA Industrial Development Authority (ACTS Retirement-Life Communities, Inc.);
Series 2016, Ref. RB		5.00%		11/15/2036		15,000		15,364,047
Series 2020 C, RB		4.00%		11/15/2043		350		323,190
Series 2020 C, RB		5.00%		11/15/2045		1,590		1,612,703
Montgomery (County of), PA Industrial Development Authority (Germantown Academy); Series 2021, Ref. RB		4.00%		10/01/2046		2,740		2,316,485
Montgomery (County of), PA Industrial Development Authority (Waverly Heights Ltd.); Series 2019, Ref. RB		5.00%		12/01/2044		1,000		1,003,914
Northampton (County of), PA General Purpose Authority (LaFayette College); Series 2017, Ref. RB		5.00%		11/01/2047		4,500		4,588,286
Northampton (County of), PA General Purpose Authority (Moravian College); Series 2016, Ref. RB		5.00%		10/01/2036		2,250		2,303,787
Northampton (County of), PA General Purpose Authority (St. Luke’s University Health Network);
Series 2016, Ref. RB		5.00%		08/15/2036		330		335,863
Series 2016, Ref. RB		5.00%		08/15/2046		1,170		1,174,714
Series 2018 A, Ref. RB		4.00%		08/15/2048		8,430		7,413,696
Northampton (County of), PA Industrial Development Authority;
Series 2013 A, RB (Acquired 04/03/2013; Cost $13,041,003)(e)(m)(n)		5.00%		06/30/2027		14,826		2,668,790
Series 2013, RB(m)(n)		5.00%		06/30/2027		8,167		1,470,077

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

       Invesco Pennsylvania Municipal Fund

	Interest Rate		Maturity  Date		Principal Amount (000)		Value
Pennsylvania–(continued)
Northampton (County of), PA Industrial Development Authority (Morningstar Senior Living, Inc.);
Series 2019, Ref. RB		5.00%		11/01/2039	$	500	$	461,499
Series 2019, Ref. RB		5.00%		11/01/2044		950		837,970
Series 2019, Ref. RB		5.00%		11/01/2049		1,050		896,920
Northeastern Pennsylvania (Commonwealth of) Hospital & Education Authority (Kings College); Series 2019, RB		5.00%		05/01/2049		1,000		903,044
Penn Hills School District; Series 2020, Ref. GO Bonds (INS - BAM)(a)		3.00%		10/01/2042		4,000		3,124,518
Pennsylvania (Commonwealth of);
First Series 2020, GO Bonds		2.13%		05/01/2040		2,500		1,691,240
Series 2018 A, Ref. COP		4.00%		07/01/2046		540		515,791
Pennsylvania (Commonwealth of) (Municipal Real Estate Funding, LLC); Series 2018 A, Ref. COP		5.00%		07/01/2043		4,000		4,099,597
Pennsylvania (Commonwealth of) Economic Development Financing Authority;
Series 2017 A, Ref. RB		4.00%		11/15/2035		5,000		5,004,370
Series 2023 A-2, RB		4.00%		05/15/2053		3,250		2,918,895
Pennsylvania (Commonwealth of) Economic Development Financing Authority (Villanova University); Series 2024, RB		4.00%		08/01/2054		6,500		6,129,342
Pennsylvania (Commonwealth of) Economic Development Financing Authority (Capital Region Parking System); Series 2013 C, RB (INS - AGM)(a)(h)		0.00%		01/01/2044		775		313,795
Pennsylvania (Commonwealth of) Economic Development Financing Authority (Covanta Holding Corp.) (Green Bonds); Series 2019 A, RB(b)(d)		3.25%		08/01/2039		1,250		967,562
Pennsylvania (Commonwealth of) Economic Development Financing Authority (National Gypson Co.); Series 2014, Ref. RB(b)		5.50%		11/01/2044		635		636,139
Pennsylvania (Commonwealth of) Economic Development Financing Authority (PA Bridges Finco L.P.); Series 2015, RB(b)		5.00%		12/31/2034		1,420		1,428,826
Pennsylvania (Commonwealth of) Economic Development Financing Authority (Penndot Major Bridges);
Series 2022, RB(b)		5.25%		06/30/2053		6,195		6,424,162
Series 2022, RB (INS - AGM)(a)(b)		5.00%		12/31/2057		5,145		5,278,316
Pennsylvania (Commonwealth of) Economic Development Financing Authority (Pennsylvania Rapid Bridge Replacement);
Series 2015, RB(b)		5.00%		12/31/2038		4,640		4,647,386
Series 2015, RB(b)		5.00%		06/30/2042		11,750		11,576,612
Pennsylvania (Commonwealth of) Economic Development Financing Authority (Presbyterian Senior Living);
Series 2021, Ref. RB		4.00%		07/01/2041		700		643,653
Series 2021, Ref. RB		4.00%		07/01/2046		3,000		2,627,084
Series 2023, RB		5.25%		07/01/2049		1,300		1,325,654
Pennsylvania (Commonwealth of) Economic Development Financing Authority (UPMC);
Series 2020 A-1, RB		4.00%		04/15/2050		1,500		1,377,776
Series 2022 A, Ref. RB		4.00%		02/15/2052		1,500		1,361,197
Pennsylvania (Commonwealth of) Higher Education Assistance Agency;
Series 2021 A, RB(b)		5.00%		06/01/2030		400		411,811
Series 2021 A, RB(b)		2.63%		06/01/2042		1,670		1,367,948
Series 2023 A, RB(b)		4.00%		06/01/2044		4,400		4,155,008
Series 2023 B, RB(b)		5.00%		06/01/2050		800		774,006
Series 2024, RB(b)		4.13%		06/01/2045		3,610		3,400,219
Series 2024-1C, RB(b)		5.00%		06/01/2051		2,000		1,931,663
Pennsylvania (Commonwealth of) Higher Educational Facilities Authority (La Salle University); Series 2012, RB		5.00%		05/01/2042		1,180		946,233
Pennsylvania (Commonwealth of) Higher Educational Facilities Authority (Thomas Jefferson University); Series 2015, Ref. RB		5.25%		09/01/2050		1,070		1,072,916
Pennsylvania (Commonwealth of) Higher Educational Facilities Authority (Trustees University of Pennsylvania); Series 2017, RB(j)		5.00%		08/15/2046		2,200		2,243,589
Pennsylvania (Commonwealth of) Higher Educational Facilities Authority (University of Pennsylvania Health System);
Series 2019, RB		4.00%		08/15/2044		10,000		9,642,070
Series 2019, RB		4.00%		08/15/2049		1,000		951,317
Pennsylvania (Commonwealth of) Higher Educational Facilities Authority (Widener College); Series 2014, Ref. RB		5.00%		07/15/2038		1,000		985,438
Pennsylvania (Commonwealth of) Housing Finance Agency; Series 2019-131 A, RB		3.10%		10/01/2044		2,500		1,956,787
Pennsylvania (Commonwealth of) Housing Finance Agency (Social bonds); Series 2023 141-A, RB		5.75%		10/01/2053		966		1,011,074

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

       Invesco Pennsylvania Municipal Fund

	Interest Rate		Maturity  Date		Principal Amount (000)		Value
Pennsylvania–(continued)
Pennsylvania (Commonwealth of) Housing Finance Agency (Social Bonds);
Series 2023 143-A, RB		5.30%		04/01/2044	$	2,020	$	2,082,774
Series 2024-145A, RB		6.00%		10/01/2054		3,500		3,766,785
Pennsylvania (Commonwealth of) Public School Building Authority (Harrisburg School); Series 2016 A, Ref. RB (INS - AGM)(a)		5.00%		12/01/2030		910		936,599
Pennsylvania (Commonwealth of) Public School Building Authority (Philadelphia School District);
Series 2016 A, Ref. RB		5.00%		06/01/2027		3,750		3,836,283
Series 2016 A, Ref. RB (INS - AGM)(a)		5.00%		06/01/2032		9,520		9,741,300
Series 2016, Ref. RB(f)(g)		5.00%		12/01/2026		5		5,197
Series 2016, Ref. RB		5.00%		06/01/2036		4,795		4,853,081
Pennsylvania (Commonwealth of) Turnpike Commission;
Series 2009 C, RB (INS - AGM)(a)		6.25%		06/01/2033		2,000		2,107,580
Series 2009 E, RB		6.38%		12/01/2038		11,435		12,381,949
Series 2015 B, RB		5.00%		12/01/2030		500		506,902
Series 2015 B, RB		5.00%		12/01/2031		1,000		1,013,808
Series 2017 A, RB		5.50%		12/01/2042		5,000		5,143,048
Series 2017 B-1, RB		5.25%		06/01/2047		1,630		1,662,276
Series 2018 A-2, RB		5.00%		12/01/2043		535		555,326
Series 2018 A-2, RB		5.00%		12/01/2048		6,000		6,179,332
Series 2019 A, RB (INS - AGM)(a)		4.00%		12/01/2049		3,800		3,628,589
Series 2019 A, RB		5.00%		12/01/2049		9,660		10,039,129
Series 2021 A, RB		4.00%		12/01/2050		3,000		2,749,128
Series 2021 A, Ref. RB		4.00%		12/01/2051		8,690		8,116,669
Series 2022 B, Ref. RB		5.25%		12/01/2052		3,000		3,240,911
Series 2023, Ref. RN (SIFMA Municipal Swap Index + 0.85%)(c)(g)		3.36%		07/15/2026		2,000		2,000,977
Pennsylvania State University (The); Series 2017 A, RB		5.00%		09/01/2047		2,500		2,563,259
Philadelphia (City of), PA;
Series 2017 15, Ref. RB		5.00%		08/01/2047		3,620		3,657,597
Series 2017 A, RB		5.00%		10/01/2052		1,895		1,926,876
Series 2017 A, RB(i)(j)		5.25%		10/01/2052		2,070		2,130,982
Series 2017 A, Ref. GO Bonds (INS - AGM)(a)		5.00%		08/01/2035		3,500		3,652,371
Series 2017 A, Ref. GO Bonds		5.00%		08/01/2036		700		725,344
Series 2017 B, Ref. RB(b)		5.00%		07/01/2047		19,700		19,718,532
Series 2017, Ref. GO Bonds		5.00%		08/01/2041		1,000		1,026,767
Series 2018 A, RB		5.00%		10/01/2053		7,000		7,201,554
Series 2019 B, GO Bonds		5.00%		02/01/2037		145		152,699
Series 2019 B, RB		5.00%		11/01/2054		11,030		11,371,635
Series 2020 A, RB		5.00%		11/01/2050		1,250		1,313,305
Series 2020 C, Ref. RB(b)		4.00%		07/01/2050		3,725		3,335,279
Series 2021, Ref. RB (INS - AGM)(a)(b)		4.00%		07/01/2037		1,000		979,078
Sixteenth Series 2020 A, RB (INS - AGM)(a)		4.00%		08/01/2045		1,735		1,675,990
Sixteenth Series 2020 A, RB (INS - AGM)(a)		5.00%		08/01/2050		5,000		5,219,589
Philadelphia (City of), PA Authority for Industrial Development; Series 2017, Ref. RB(d)		5.00%		03/15/2045		510		425,946
Philadelphia (City of), PA Authority for Industrial Development (Children’s Hospital of Philadelphia); Series 2014 A, RB(f)(g)(j)		5.00%		07/01/2024		1,500		1,501,030
Philadelphia (City of), PA Authority for Industrial Development (Cultural and Commercials Corridors); Series 2016, Ref. RB		5.00%		12/01/2031		840		852,601
Philadelphia (City of), PA Authority for Industrial Development (First Philadelphia Preparatory Charter School); Series 2014 A, RB		7.00%		06/15/2033		765		766,875
Philadelphia (City of), PA Authority for Industrial Development (Independence Charter School - West);
Series 2019, RB		4.00%		06/15/2029		255		243,990
Series 2019, RB		5.00%		06/15/2050		350		311,707
Philadelphia (City of), PA Authority for Industrial Development (International Apartments at Temple University);
Series 2010 A, IDR		5.38%		06/15/2030		1,380		1,304,804
Series 2010 A, IDR		5.63%		06/15/2042		4,000		3,369,237
Philadelphia (City of), PA Authority for Industrial Development (Kipp Philadelphia Charter School); Series 2016 B, RB		5.00%		04/01/2046		640		589,648

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

       Invesco Pennsylvania Municipal Fund

	Interest Rate		Maturity  Date		Principal Amount (000)		Value
Pennsylvania–(continued)
Philadelphia (City of), PA Authority for Industrial Development (MaST I Charter School); Series 2016 A, Ref. RB		5.25%		08/01/2046	$	1,500	$	1,464,357
Philadelphia (City of), PA Authority for Industrial Development (PresbyHomes Germantown/ Morrisville); Series 2005 A, RB		5.63%		07/01/2035		2,172		2,214,395
Philadelphia (City of), PA Authority for Industrial Development (Richard Allen Preparatory Charter School); Series 2006, RB		6.25%		05/01/2033		1,515		1,515,252
Philadelphia (City of), PA Authority for Industrial Development (St. Joseph’s University); Series 2022, RB		5.25%		11/01/2052		2,000		2,081,357
Philadelphia (City of), PA Authority for Industrial Development (Temple University); First Series 2015, Ref. RB		5.00%		04/01/2045		530		531,039
Philadelphia (City of), PA Authority for Industrial Development (Thomas Jefferson University); Series 2017 A, Ref. RB		5.00%		09/01/2047		17,635		17,672,340
Philadelphia (City of), PA Authority for Industrial Development (University Square Apartments);
Series 2017, RB		4.00%		12/01/2047		600		518,263
Series 2017, RB		5.00%		12/01/2058		11,000		10,613,738
Philadelphia (City of), PA Authority for Industrial Development (Wesley Enhanced Living Obligated Group);
Series 2017, Ref. RB		5.00%		07/01/2042		1,000		854,103
Series 2017, Ref. RB		5.00%		07/01/2049		500		408,318
Philadelphia (City of), PA Hospitals & Higher Education Facilities Authority (Temple University Health System); Series 2017, Ref. RB		5.00%		07/01/2032		1,000		1,007,475
Philadelphia (City of), PA Housing Authority (PHA Headquarters);
Series 2017, RB		5.00%		05/01/2039		1,300		1,327,475
Series 2017, RB		5.00%		05/01/2042		2,415		2,465,204
Series 2017, RB		5.00%		05/01/2047		3,335		3,387,975
Philadelphia (City of), PA Parking Authority; Series 1999 A, RB (INS - AMBAC)(a)		5.25%		02/15/2029		25		25,027
Philadelphia School District (The);
Series 2016 F, Ref. GO Bonds		5.00%		09/01/2032		1,000		1,016,406
Series 2019 A, GO Bonds		4.00%		09/01/2037		7,050		7,060,785
Series 2019 A, GO Bonds		5.00%		09/01/2044		2,500		2,579,545
Pittsburgh (City of), PA Urban Redevelopment Authority (Marian Plaza); Series 2007, RB (CEP - GNMA)(b)		6.13%		01/20/2043		2,355		2,356,618
Pittsburgh (City of), PA Water & Sewer Authority; Series 2023 A, RB (INS - AGM)(a)		4.25%		09/01/2053		800		770,669
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)(a)		5.00%		03/01/2037		1,500		1,539,063
Series 2017, Ref. GO Bonds (INS - AGM)(a)		5.00%		03/01/2038		1,500		1,531,039
Scranton School District;
Series 2017 E, Ref. GO Bonds (INS - BAM)(a)		5.00%		12/01/2034		820		854,912
Series 2017 E, Ref. GO Bonds (INS - BAM)(a)		5.00%		12/01/2035		750		781,438
Southcentral Pennsylvania General Authority (Hanover Hospital, Inc.); Series 2015, Ref. RB		5.00%		12/01/2029		1,000		1,015,827
Southeastern Pennsylvania Transportation Authority (Asset Improvement Program); Series 2022, RB		5.25%		06/01/2052		4,000		4,309,212
Susquehanna Area Regional Airport Authority; Series 2017, Ref. RB(b)		5.00%		01/01/2038		1,350		1,355,554
Washington (County of), PA Redevelopment Authority (Victory Centre); Series 2018, Ref. RB		5.00%		07/01/2028		500		492,247
West Shore Area Authority (Messiah Village); Series 2015 A, Ref. RB		5.00%		07/01/2035		1,500		1,484,862
West Shore School District; Series 2020, GO Bonds		4.00%		11/15/2048		2,000		1,900,718
Wilkes-Barre Area School District;
Series 2016 B, GO Bonds (INS - BAM)(a)		5.00%		08/01/2034		2,600		2,677,500
Series 2016 B, GO Bonds (INS - BAM)(a)		5.00%		08/01/2036		2,125		2,194,342
								626,438,566
Puerto Rico–13.30%
Children’s Trust Fund;
Series 2002, RB		5.50%		05/15/2039		12,595		12,660,101
Series 2005 A, RB(h)		0.00%		05/15/2050		53,320		9,690,745
Series 2008 A, RB(h)		0.00%		05/15/2057		415,530		33,387,842
Corp. Para El Financiamiento Publico de Puerto Rico; Series 2011, RB(m)		5.50%		08/01/2031		5,725		0
GDB Debt Recovery Authority of Puerto Rico; Series 2023, RB		7.50%		08/20/2040		198		185,536

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

       Invesco Pennsylvania Municipal Fund

	Interest Rate		Maturity  Date		Principal Amount (000)		Value
Puerto Rico–(continued)
Puerto Rico (Commonwealth of);
Series 2021 A, GO Bonds(h)		0.00%		07/01/2024	$	212	$	210,891
Series 2021 A, GO Bonds(h)		0.00%		07/01/2033		2,000		1,328,259
Series 2021 A-1, GO Bonds		5.38%		07/01/2025		1,446		1,458,307
Series 2021 A-1, GO Bonds		5.63%		07/01/2027		1,433		1,498,028
Series 2021 A-1, GO Bonds		5.63%		07/01/2029		1,409		1,516,919
Series 2021 A-1, GO Bonds		5.75%		07/01/2031		1,369		1,525,915
Series 2021 A-1, GO Bonds		4.00%		07/01/2033		1,298		1,298,007
Series 2021 A-1, GO Bonds		4.00%		07/01/2035		1,167		1,146,230
Series 2021 A-1, GO Bonds		4.00%		07/01/2037		1,001		971,551
Series 2021 A-1, GO Bonds		4.00%		07/01/2041		1,361		1,265,557
Series 2021 A-1, GO Bonds		4.00%		07/01/2046		1,416		1,280,636
Subseries 2022, RN(h)		0.00%		11/01/2043		6,339		3,938,087
Subseries 2022, RN(h)		0.00%		11/01/2051		182		93,949
Subseries 2022, RN(h)		0.00%		11/01/2051		192		121,150
Puerto Rico (Commonwealth of) Aqueduct & Sewer Authority;
Series 2008 A, RB		6.13%		07/01/2024		381		381,603
Series 2022 A, Ref. RB(d)		5.00%		07/01/2033		2,000		2,117,002
Puerto Rico (Commonwealth of) Electric Power Authority;
Series 2005 SS, Ref. RB (INS - NATL)(a)		5.00%		07/01/2025		6,000		6,002,027
Series 2007 TT, RB(l)		5.00%		07/01/2032		1,450		384,250
Series 2010 AAA, RB(l)		5.25%		07/01/2024		1,435		380,275
Series 2010 XX, RB(l)		5.25%		07/01/2040		2,445		647,925
Puerto Rico Sales Tax Financing Corp.;
Series 2018 A-1, RB(h)		0.00%		07/01/2046		3,912		1,253,025
Series 2018 A-1, RB(h)		0.00%		07/01/2051		7,242		1,722,417
Series 2018 A-1, RB		5.00%		07/01/2058		5,037		5,038,634
Series 2019 A-2, RB		4.54%		07/01/2053		91		87,390
Series 2019 A-2, RB		4.78%		07/01/2058		1,216		1,205,244
University of Puerto Rico;
Series 2006 P, Ref. RB		5.00%		06/01/2030		3,235		3,129,271
Series 2006 Q, RB		5.00%		06/01/2030		1,300		1,257,513
								97,184,286
Virgin Islands–0.82%
Tobacco Settlement Financing Corp.;
Series 2006, RB(h)		0.00%		05/15/2035		4,150		1,835,626
Series 2006, RB(h)		0.00%		05/15/2035		2,195		1,035,523
Series 2006, RB(h)		0.00%		05/15/2035		7,000		3,084,624
								5,955,773
Northern Mariana Islands–0.13%
Northern Mariana Islands (Commonwealth of) Ports Authority;
Series 1998 A, RB(b)		6.25%		03/15/2028		540		521,526
Series 1998 A, RB(b)		6.60%		03/15/2028		410		397,268
								918,794
Guam–0.11%
Guam (Territory of) Waterworks Authority; Series 2014 A, Ref. RB(f)(g)		5.00%		07/01/2024		285		285,195
Guam Housing Corp.; Series 1998 A, RB (CEP - FHLMC)(b)		5.75%		09/01/2031		555		555,175
								840,370
TOTAL INVESTMENTS IN SECURITIES(o)–100.12% (Cost $773,005,134)								731,337,789
FLOATING RATE NOTE OBLIGATIONS–(0.80)%
Notes with interest and fee rates ranging from 3.91% to 3.92% at 05/31/2024 and contractual maturities of collateral ranging from 06/01/2034 to 10/01/2052(p)								(5,845,000	)
OTHER ASSETS LESS LIABILITIES–0.68%								4,998,576
NET ASSETS–100.00%							$	730,491,365

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

       Invesco Pennsylvania 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
COP	– Certificates of Participation
FHLMC	– Federal Home Loan Mortgage Corp.
GNMA	– Government National Mortgage Association
GO	– General Obligation
IDR	– Industrial Development Revenue Bonds
INS	– Insurer
NATL	– National Public Finance Guarantee Corp.
RB	– Revenue Bonds
Ref.	– Refunding
RN	– Revenue Notes
SIFMA	– Securities Industry and Financial Markets Association
SOFR	– Secured Overnight Financing Rate

Notes to Schedule of Investments:

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

^(b) Security subject to the alternative minimum tax.

^(c) Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on May 31, 2024.

^(d) 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 $21,761,830, which represented 2.98% of the Fund’s Net Assets.

^(e) Restricted security. The aggregate value of these securities at May 31, 2024 was $7,850,600, which represented 1.07% of the Fund’s Net Assets.

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

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

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

⁽ⁱ⁾ Security is subject to a reimbursement agreement which may require the Fund to pay amounts to a counterparty in the event of a significant decline in the market value of the security underlying the TOB Trusts. In case of a shortfall, the maximum potential amount of payments the Fund could ultimately be required to make under the agreement is $3,380,000. However, such shortfall payment would be reduced by the proceeds from the sale of the security underlying the TOB Trusts.

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

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

^(l) 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 $1,434,302, which represented less than 1% of the Fund’s Net Assets.

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

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

^(o) This table provides a listing of those entities that have either issued, guaranteed, backed or otherwise enhanced the credit quality of more than 5% of the securities held in the portfolio. In instances where the entity has guaranteed, backed or otherwise enhanced the credit quality of a security, it is not primarily responsible for the issuer’s obligations but may be called upon to satisfy the issuer’s obligations.

Entity	Percent
Assured Guaranty Municipal Corp.		6.45%

^(p)  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 $9,009,797 are held by TOB Trusts and serve as collateral for the $5,845,000 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 Pennsylvania 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		$–		$727,198,922		$4,138,867		$731,337,789

       Invesco Pennsylvania Municipal Fund