Schedule of Investments

November 30, 2023

(Unaudited)

	Interest Rate		Maturity Date		Principal Amount (000)		Value
Municipal Obligations–152.25%(a)
Alabama–1.93%
Birmingham (City of), AL Special Care Facilities Financing Authority (Methodist Home for the Aging); Series 2016, RB		5.75%		06/01/2045	$	225	$	187,272
Black Belt Energy Gas District (The); Series 2023 B, RB(b)		5.25%		12/01/2030		1,420		1,507,026
Huntsville (City of), AL Special Care Facilities Financing Authority (Redstone Village); Series 2007, RB(c)		5.50%		01/01/2043		1,725		1,000,500
Jefferson (County of), AL; Series 2013 A, Revenue Wts. (INS - AGM)(d)		5.50%		10/01/2053		1,155		1,172,952
Lower Alabama Gas District (The); Series 2016 A, RB		5.00%		09/01/2046		3,745		3,892,931
Southeast Energy Authority A Cooperative District (No. 2); Series 2021 B, RB(b)		4.00%		12/01/2031		1,495		1,455,916
Southeast Energy Authority A Cooperative District (No. 3); Series 2022 A-1, RB(b)		5.50%		12/01/2029		1,405		1,488,913
Tuscaloosa (County of), AL Industrial Development Authority (Hunt Refining); Series 2019 A, Ref. IDR(e)		5.25%		05/01/2044		825		750,881
								11,456,391
Alaska–0.06%
Northern Tobacco Securitization Corp.; Series 2021 A-1, Ref. RB		4.00%		06/01/2050		420		372,219
Arizona–3.12%
Arizona (State of) Industrial Development Authority; Series 2019-2A, Revenue Ctfs.		3.63%		05/20/2033		1,032		951,959
Arizona (State of) Industrial Development Authority (Leman Academy of Excellence); Series 2019 A, RB(e)		5.00%		07/01/2039		1,195		1,112,850
Arizona (State of) Industrial Development Authority (Leman Academy-Parker Colorado); Series 2019, RB(e)		5.00%		07/01/2049		500		441,544
Arizona (State of) Industrial Development Authority (Master Academy of Nevada - Bonanza Campus); Series 2020 A, RB(e)		5.00%		12/15/2050		820		748,683
Glendale (City of), AZ Industrial Development Authority (The Beatitudes Campus);
Series 2017, Ref. RB		5.00%		11/15/2030		1,150		1,087,902
Series 2017, Ref. RB		5.00%		11/15/2045		890		701,875
Maricopa (County of), AZ Industrial Development Authority (Legacy Traditional Schools); Series 2019, Ref. RB(e)		5.00%		07/01/2049		225		205,048
Mesa (City of), AZ; Series 2022 A, RB (INS - BAM)(d)		5.00%		07/01/2046		3,010		3,243,948
Phoenix (City of), AZ Industrial Development Authority (Legacy Traditional Schools); Series 2014 A, RB(e)		6.50%		07/01/2034		500		505,506
Pima (County of), AZ Industrial Development Authority (American Leadership Academy); Series 2019, Ref. RB(e)		5.00%		06/15/2052		360		318,687
Pima (County of), AZ Industrial Development Authority (Grande Innovations Academy); Series 2018, RB(e)		5.25%		07/01/2048		1,190		1,063,380
Pima (County of), AZ Industrial Development Authority (Tucson Medical Center); Series 2021, Ref. RB		3.00%		04/01/2051		1,050		737,373
Salt River Project Agricultural Improvement & Power District; Series 2023 B, RB		5.00%		01/01/2048		3,300		3,617,462
Salt Verde Financial Corp.;
Series 2007, RB		5.00%		12/01/2032		770		816,587
Series 2007, RB		5.00%		12/01/2037		1,805		1,916,474
Yuma (City of), AZ Industrial Development Authority (Regional Medical Center); Series 2014 A, RB		5.25%		08/01/2032		1,060		1,069,974
								18,539,252
Arkansas–0.10%
Arkansas (State of) Development Finance Authority (Baptist Memorial Health); Series 2020, Ref. RB		5.00%		09/01/2044		610		614,960
California–14.22%
Beverly Hills Unified School District (Election of 2008); Series 2009, GO Bonds(f)		0.00%		08/01/2028		800		698,369
California (State of);
Series 2020, GO Bonds (INS - BAM)(d)		3.00%		11/01/2050		1,680		1,343,727
Series 2022, Ref. GO Bonds		4.00%		04/01/2042		3,215		3,269,163
Series 2023, GO Bonds		5.25%		09/01/2053		3,300		3,704,003
California (State of) Community Housing Agency (Annadel Apartments); Series 2019 A, RB(e)		5.00%		04/01/2049		835		655,371
California (State of) County Tobacco Securitization Agency; Series 2020 A, Ref. RB		4.00%		06/01/2037		275		273,048
California (State of) County Tobacco Securitization Agency (Alameda County Tobacco Asset Securitization Corp.); Series 2006 C, RB(f)		0.00%		06/01/2055		11,000		1,003,397

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

Invesco Municipal Trust

	Interest Rate		Maturity Date		Principal Amount (000)		Value
California–(continued)
California (State of) County Tobacco Securitization Agency (Los Angeles County Securitization Corp.);
Series 2020 B-1, Ref. RB		5.00%		06/01/2049	$	55	$	55,791
Series 2020 B-2, Ref. RB(f)		0.00%		06/01/2055		1,670		275,059
California (State of) Health Facilities Financing Authority (Cedars-Sinai Health System); Series 2021, Ref. RB		5.00%		08/15/2051		4,285		4,608,124
California (State of) Health Facilities Financing Authority (PIH Health); Series 2020 A, RB		4.00%		06/01/2050		4,185		3,803,579
California (State of) Housing Finance Agency (Social Certificates);
Series 2021-2A, Revenue Ctfs. (CEP - FHLMC)		3.75%		03/25/2035		4,086		3,865,921
Series 2023-1, RB		4.38%		09/20/2036		837		810,123
California (State of) Infrastructure & Economic Development Bank (California State Teachers’ Retirement System Headquarters Expansion) (Green Bonds); Series 2019, RB		5.00%		08/01/2049		1,940		2,036,714
California (State of) Municipal Finance Authority (Bella Mente Montessori Academy); Series 2018 A, RB(e)		5.00%		06/01/2048		190		167,323
California (State of) Municipal Finance Authority (CHF-Davis I, LLC - West Village Student Housing); Series 2018, RB		5.00%		05/15/2037		1,340		1,381,370
California (State of) Municipal Finance Authority (Linxs APM);
Series 2018 A, RB(g)		5.00%		12/31/2036		1,675		1,725,957
Series 2018 A, RB(g)		5.00%		12/31/2047		2,010		2,024,421
California (State of) Municipal Finance Authority (United Airlines, Inc.); Series 2019, RB(g)		4.00%		07/15/2029		835		808,534
California (State of) Municipal Finance Authority (William Jessup University); Series 2019, Ref. RB(e)		5.00%		08/01/2039		250		228,622
California (State of) Pollution Control Financing Authority;
Series 2012, RB(e)(g)		5.00%		07/01/2027		945		945,798
Series 2012, RB(e)(g)		5.00%		07/01/2030		220		220,161
Series 2012, RB(e)(g)		5.00%		07/01/2037		2,280		2,280,463
Series 2012, RB(e)(g)		5.00%		11/21/2045		2,675		2,657,316
California (State of) Statewide Communities Development Authority (Loma Linda University Medical Center); Series 2016 A, RB(e)		5.25%		12/01/2056		1,005		975,867
California State University;
Series 2019 A, RB		5.00%		11/01/2044		2,480		2,667,095
Series 2019 A, RB(h)		5.00%		11/01/2049		2,120		2,259,018
CSCDA Community Improvement Authority (Jefferson-Anaheim Social Bonds); Series 2021 A, RB(e)		3.13%		08/01/2056		840		563,524
CSCDA Community Improvement Authority (Oceanaire-Long Beach Social Bonds); Series 2021 A-2, RB(e)		4.00%		09/01/2056		840		584,407
CSCDA Community Improvement Authority (Parallel-Anaheim Social Bonds); Series 2021, RB(e)		4.00%		08/01/2056		500		364,192
Daly (City of), CA Housing Development Finance Agency (Franciscan Mobile Home Park Acquisition); Series 2007 C, Ref. RB		6.50%		12/15/2047		375		362,191
Golden State Tobacco Securitization Corp.; Series 2021 B-2, Ref. RB(f)		0.00%		06/01/2066		2,785		290,615
Los Angeles (City of), CA Department of Airports (Green Bonds);
Series 2022 G, RB(g)		5.50%		05/15/2035		1,750		2,010,824
Series 2022 G, RB(g)		5.50%		05/15/2037		750		846,904
Los Angeles (City of), CA Department of Water & Power; Series 2020 B, RB(h)		5.00%		07/01/2050		2,340		2,505,045
Montebello Unified School District; Series 2022 B, GO Bonds (INS - AGM)(d)		5.00%		08/01/2050		1,235		1,302,573
M-S-R Energy Authority; Series 2009 B, RB		6.50%		11/01/2039		585		719,428
Mt. San Antonio Community College District (Election of 2008); Series 2013 A, GO Bonds(i)		6.25%		08/01/2043		2,010		1,913,741
Oxnard School District (Election of 2022); Series 2023 A, GO Bonds (INS - BAM)(d)		4.25%		08/01/2053		3,075		3,088,384
Regents of the University of California Medical Center; Series 2022 P, RB(h)(j)		4.00%		05/15/2053		5,435		5,233,065
Sacramento (City of), CA Unified School District (Election of 2020);
Series 2022 A, GO Bonds (INS - BAM)(d)		5.50%		08/01/2047		1,305		1,434,372
Series 2022 A, GO Bonds (INS - BAM)(d)		5.50%		08/01/2052		1,590		1,737,735
San Diego (County of), CA Regional Airport Authority;
Series 2021 A, RB		4.00%		07/01/2051		2,065		1,974,656
Series 2021 A, RB		5.00%		07/01/2056		2,010		2,137,712
Series 2023 B, RB(g)		5.00%		07/01/2048		2,475		2,576,340
San Francisco (City & County of), CA Airport Commission; Series 2019 E, RB(g)		5.00%		05/01/2038		680		708,591
San Francisco (City & County of), CA Airport Commission (San Francisco International Airport);
Series 2019 E, RB(g)		5.00%		05/01/2050		2,360		2,401,487
Series 2021 A, Ref. RB(g)		5.00%		05/01/2036		610		656,912
San Joaquin Hills Transportation Corridor Agency; Series 2014 B, Ref. RB		5.25%		01/15/2049		3,690		3,717,016
Silicon Valley Tobacco Securitization Authority (Santa Clara); Series 2007 A, RB(f)		0.00%		06/01/2041		3,485		1,253,942

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

Invesco Municipal Trust

	Interest Rate		Maturity Date		Principal Amount (000)		Value
California–(continued)
Western Placer Unified School District; Series 2017, Ref. COP (INS - AGM)(d)		4.00%		08/01/2049	$	1,360	$	1,339,432
								84,467,422
Colorado–5.80%
Aurora Highlands Community Authority Board; Series 2021 A, Ref. RB		5.75%		12/01/2051		840		751,831
Belford North Metropolitan District; Series 2020 A, GO Bonds		5.50%		12/01/2050		1,040		920,986
Bromley Park Metropolitan District No 2; Series 2023, Ref. GO Bonds (INS - BAM)(d)		5.38%		12/01/2053		610		654,183
Centerra Metropolitan District No. 1 (In the City of Loveland);
Series 2017, RB(e)		5.00%		12/01/2047		1,680		1,509,050
Series 2020 A, Ref. GO Bonds		5.00%		12/01/2051		670		582,929
Series 2022, RB		6.50%		12/01/2053		585		587,598
Colorado (State of) Health Facilities Authority (Adventhealth Obligated Group); Series 2021 A, Ref. RB		4.00%		11/15/2050		745		685,260
Colorado (State of) Health Facilities Authority (Adventist Health System/Sunbelt Obligated Group); Series 2018 A, RB		5.00%		11/15/2048		1,670		1,713,574
Colorado (State of) Health Facilities Authority (CommonSpirit Health);
Series 2019 A-2, Ref. RB		5.00%		08/01/2044		3,680		3,757,463
Series 2019 A-2, Ref. RB		4.00%		08/01/2049		1,675		1,472,674
Colorado (State of) Health Facilities Authority (Volunteers of America Care);
Series 2007 A, RB		5.25%		07/01/2027		245		227,758
Series 2007 A, RB		5.30%		07/01/2037		170		131,924
Colorado (State of) High Performance Transportation Enterprise (C-470 Express Lanes); Series 2017, RB		5.00%		12/31/2047		920		920,535
Colorado (State of) Science and Technology Park Metropolitan District No. 1; Series 2018, Ref. RB		5.00%		12/01/2033		500		492,063
Colorado Crossing Metropolitan District No. 2; Series 2020 A-1, Ref. GO Bonds		5.00%		12/01/2047		500		411,051
Denver (City & County of), CO;
Series 2018 A, Ref. RB(g)		5.00%		12/01/2048		5,260		5,343,674
Series 2018 A, Ref. RB(g)		5.25%		12/01/2048		1,735		1,786,402
Series 2018 A-2, RB(f)		0.00%		08/01/2034		1,325		842,507
Series 2022 A, RB(g)		5.00%		11/15/2036		945		1,030,962
Series 2022 A, RB(g)		5.00%		11/15/2047		2,500		2,607,571
Great Western Metropolitan District; Series 2020, Ref. GO Bonds		4.75%		12/01/2050		460		393,404
Jefferson (County of), CO Center Metropolitan District No. 1; Series 2020 B, Ref. RB		5.75%		12/15/2050		735		702,788
Johnstown Plaza Metropolitan District; Series 2022, Ref. GO Bonds		4.25%		12/01/2046		787		627,755
Mulberry Metropolitan District No. 2; Series 2022, RB		7.00%		12/01/2034		755		765,652
Neu Town Metropolitan District; Series 2018 A, Ref. GO Bonds		5.38%		12/01/2046		705		664,764
North Range Metropolitan District No. 3; Series 2020 A, GO Bonds		5.00%		12/01/2040		500		464,609
Rampart Range Metropolitan District No. 5; Series 2021, RB		4.00%		12/01/2051		500		353,671
Sky Ranch Community Authority Board; Series 2022 A, RB		5.75%		12/01/2052		500		466,083
Village Metropolitan District (The); Series 2020, Ref. GO Bonds		5.00%		12/01/2040		550		524,908
White Buffalo Metropolitan District No. 3;
Series 2020, GO Bonds		5.50%		12/01/2050		500		458,625
Series 2023, GO Bonds		8.00%		12/15/2035		608		584,023
Windler Public Improvement Authority;
Series 2021 A-1, RB		4.13%		12/01/2051		1,335		807,563
Series 2021 A-2, RB(i)		4.50%		12/01/2041		2,065		1,208,623
								34,452,463
District of Columbia–3.71%
District of Columbia;
Series 2014 C, GO Bonds(h)(k)		5.00%		06/01/2035		6,890		6,949,920
Series 2022 A, RB		5.00%		07/01/2047		1,670		1,812,788
Series 2023 A, RB		5.25%		05/01/2048		2,435		2,699,843
District of Columbia (Provident Group - Howard Properties LLC); Series 2013, RB		5.00%		10/01/2045		660		609,636
District of Columbia Water & Sewer Authority (Green Bonds); Series 2022 C-1, RB		4.00%		10/01/2051		3,370		3,298,231
Metropolitan Washington Airports Authority; Series 2017, Ref. RB(g)		5.00%		10/01/2042		2,675		2,732,493
Metropolitan Washington Airports Authority (Dulles Metrorail and Capital Improvement); Series 2019 B, Ref. RB		4.00%		10/01/2049		1,675		1,504,406
Washington (State of) Metropolitan Area Transit Authority (Sustainability Bonds); Series 2023 A, RB		5.25%		07/15/2053		2,185		2,403,268
								22,010,585

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

Invesco Municipal Trust

	Interest Rate		Maturity Date		Principal Amount (000)		Value
Florida–9.76%
Alachua (County of), FL Health Facilities Authority (Terraces at Bonita Springs);
Series 2022 A, Ref. RB(e)		5.00%		11/15/2061	$	1,075	$	701,190
Series 2022 B, RB(e)		6.50%		11/15/2033		100		84,604
Brevard (County of), FL Health Facilities Authority (Health First Obligated Group); Series 2022 A, Ref. RB		4.00%		04/01/2052		505		451,666
Broward (County of), FL;
Series 2019 A, RB(g)		5.00%		10/01/2049		1,325		1,347,425
Series 2019 B, RB(g)		4.00%		09/01/2044		835		800,170
Series 2022 A, RB(h)(j)		4.00%		10/01/2047		3,350		3,341,600
Series 2022, RB		5.00%		01/01/2047		1,675		1,801,907
Broward (County of), FL (Convention Center Expansion); Series 2021, RB		4.00%		09/01/2047		3,340		3,180,671
Cape Coral (City of) FL; Series 2023, Ref. RB (INS - BAM)(d)		5.60%		03/01/2048		1,215		1,322,794
Collier (County of), FL Industrial Development Authority (The Arlington of Naples); Series 2014 A, RB(c)(e)		7.75%		05/15/2035		970		31,021
Davie (Town of), FL (Nova Southeastern University); Series 2018, Ref. RB		5.00%		04/01/2048		1,360		1,369,290
Florida (State of) North Broward Hospital District; Series 2017 B, Ref. RB		5.00%		01/01/2042		1,205		1,224,839
Florida Development Finance Corp. (Green Bonds); Series 2019 B, RB(e)(g)		7.38%		01/01/2049		670		672,926
Fort Lauderdale (City of), FL;
Series 2023 A, RB		5.50%		09/01/2053		2,520		2,833,531
Series 2023, RB		5.50%		09/01/2053		1,460		1,641,649
Greater Orlando Aviation Authority;
Series 2017 A, RB(g)		5.00%		10/01/2052		685		691,936
Series 2019 A, RB(g)		4.00%		10/01/2044		2,500		2,346,284
Hillsborough (County of), FL; Series 2023, GO Bonds		5.00%		07/01/2053		1,585		1,710,235
Hillsborough (County of), FL Aviation Authority (Tampa International Airport); Series 2018 E, RB(g)		5.00%		10/01/2048		2,475		2,518,399
Jacksonville (City of) FL; Series 2023 A, Ref. RB		5.50%		10/01/2053		2,430		2,682,372
Lake (County of), FL (Lakeside at Waterman Village);
Series 2020 A, Ref. RB		5.50%		08/15/2040		650		579,438
Series 2020 A, Ref. RB		5.75%		08/15/2050		285		245,540
Series 2020 A, Ref. RB		5.75%		08/15/2055		1,055		894,786
Lee (County of), FL;
Series 2021 B, RB(g)		5.00%		10/01/2034		1,030		1,120,116
Series 2022, RB		5.25%		08/01/2049		1,675		1,772,100
Miami (City of) & Dade (County of), FL School Board; Series 2022 A, GO Bonds (INS - BAM)(d)		5.00%		03/15/2052		1,985		2,104,155
Miami Beach (City of), FL; Series 2017, Ref. RB		5.00%		09/01/2047		1,150		1,150,159
Miami Beach (City of), FL Health Facilities Authority (Mt. Sinai Medical Center); Series 2014, Ref. RB		5.00%		11/15/2039		935		939,038
Miami-Dade (County of), FL;
Series 2021, RB		4.00%		10/01/2048		3,325		3,200,668
Series 2022 A, Ref. RB(g)		5.25%		10/01/2052		505		526,198
Series 2023 A, Ref. RB(g)		5.00%		10/01/2047		840		860,653
Subseries 2021 A-2, Ref. RB (INS - AGM)(d)		4.00%		10/01/2049		2,520		2,356,099
Miami-Dade (County of), FL Expressway Authority; Series 2010 A, RB		5.00%		07/01/2040		2,605		2,605,677
Miami-Dade (County of), FL Transit System; Series 2022, RB		5.00%		07/01/2052		2,345		2,475,421
Osceola (County of), FL;
Series 2020 A-2, Ref. RB(f)		0.00%		10/01/2050		2,000		440,559
Series 2020 A-2, Ref. RB(f)		0.00%		10/01/2052		450		88,058
Series 2020 A-2, Ref. RB(f)		0.00%		10/01/2053		445		82,050
Series 2020 A-2, Ref. RB(f)		0.00%		10/01/2054		385		66,874
Reunion East Community Development District; Series 2005, RB(c)(l)		5.80%		05/01/2036		235		2
Sarasota (County of), FL Public Hospital District (Sarasota Memorial Hospital); Series 2022, RB		4.00%		07/01/2052		1,670		1,541,527
South Miami Health Facilities Authority, Inc. (Baptist Health South Florida Obligated Group); Series 2017, Ref. RB		4.00%		08/15/2047		840		764,136
Sterling Hill Community Development District; Series 2003 A, RB(l)(m)		6.20%		05/01/2035		735		345,629
Sumter (County of), FL Industrial Development Authority (Central Florida Health Alliance); Series 2014 A, RB		5.25%		07/01/2044		1,000		1,000,458
Tallahassee (City of), FL (Tallahassee Memorial Health Care, Inc.); Series 2016, RB		5.00%		12/01/2055		1,350		1,304,392
Tampa (City of), FL; Series 2020 A, RB(f)		0.00%		09/01/2049		3,340		781,391
								57,999,633

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

Invesco Municipal Trust

	Interest Rate		Maturity Date		Principal Amount (000)		Value
Georgia–2.52%
Augusta (City of), GA Development Authority; Series 2018, RB		4.00%		07/01/2039	$	2,860	$	2,736,213
Brookhaven Development Authority (Children’s Healthcare of Atlanta, Inc.); Series 2019 A, RB(h)(j)		4.00%		07/01/2044		3,345		3,244,851
Burke (County of), GA Development Authority (Georgia Power Company); Series 2018, Ref. VRD RB(n)		2.40%		11/01/2052		955		955,000
Columbia (City of), GA (Wellstar Health System, Inc.); Series 2023, RAC		5.13%		04/01/2048		1,095		1,164,477
Georgia (State of) Municipal Electric Authority of Georgia (Plant Vogtle Units 3 & 4); Series 2021 A, Ref. RB		4.00%		01/01/2046		660		598,912
Glynn (County of) & Brunswick (City of), GA Memorial Hospital Authority (Southeast Georgia Health System); Series 2017, RAC		5.00%		08/01/2047		3,950		3,873,273
Main Street Natural Gas, Inc.;
Series 2021 C, RB(b)		4.00%		12/01/2028		1,240		1,217,127
Series 2022 C, RB(b)(e)		4.00%		11/01/2027		1,260		1,196,166
								14,986,019
Idaho–0.34%
Idaho (State of) Health Facilities Authority (Valley Vista Care Corp.);
Series 2017 A, Ref. RB		5.00%		11/15/2032		355		307,720
Series 2017 A, Ref. RB		5.25%		11/15/2037		500		410,080
Spring Valley Community Infrastructure District No. 1; Series 2021, RB(e)		3.75%		09/01/2051		1,675		1,284,589
								2,002,389
Illinois–9.90%
Bolingbrook (Village of), IL; Series 2005, RB		6.25%		01/01/2024		461		459,136
Chicago (City of), IL;
Series 2002 B, GO Bonds		5.50%		01/01/2037		1,050		1,054,947
Series 2005 D, Ref. GO Bonds		5.50%		01/01/2040		1,190		1,195,422
Series 2007 E, Ref. GO Bonds		5.50%		01/01/2042		340		341,268
Series 2014, RB		5.00%		11/01/2039		860		864,356
Series 2015 A, GO Bonds		5.50%		01/01/2033		3,395		3,415,936
Series 2017 A, Ref. GO Bonds		6.00%		01/01/2038		2,025		2,108,455
Chicago (City of), IL (Diversey/Narragansett); Series 2006, COP(l)		7.46%		02/15/2026		424		309,863
Chicago (City of), IL (O’Hare International Airport);
Series 2012 B, Ref. RB(g)		5.00%		01/01/2030		4,500		4,501,072
Series 2017 D, RB		5.00%		01/01/2052		1,465		1,483,427
Chicago (City of), IL Board of Education;
Series 2017 H, GO Bonds		5.00%		12/01/2036		1,705		1,710,594
Series 2018 A, Ref. GO Bonds		5.00%		12/01/2035		750		759,055
Series 2018 A, Ref. GO Bonds (INS - AGM)(d)		5.00%		12/01/2035		650		670,387
Chicago (City of), IL Midway International Airport;
Series 2013 A, Ref. RB(b)(g)(k)		5.50%		02/06/2024		2,650		2,656,329
Series 2014 A, Ref. RB(g)		5.00%		01/01/2041		1,250		1,250,043
Chicago (City of), IL Park District;
Series 2020 D, GO Bonds (INS - BAM)(d)		4.00%		01/01/2035		1,000		1,013,664
Series 2020 D, GO Bonds (INS - BAM)(d)		4.00%		01/01/2038		1,330		1,315,300
Gilberts (Village of), IL Special Service Area No. 24 (The Conservancy); Subseries 2014 A, RB		5.38%		03/01/2034		525		492,229
Illinois (State of);
Series 2014, GO Bonds		5.25%		02/01/2033		1,250		1,250,358
Series 2014, GO Bonds		5.00%		05/01/2035		450		450,683
Series 2014, GO Bonds		5.00%		05/01/2036		1,210		1,211,423
Series 2016, GO Bonds		5.00%		11/01/2036		1,120		1,138,705
Series 2017 C, GO Bonds		5.00%		11/01/2029		265		278,545
Series 2017 D, GO Bonds		5.00%		11/01/2026		1,115		1,162,977
Series 2018 A, GO Bonds		5.00%		05/01/2030		1,225		1,296,777
Series 2020, GO Bonds		5.50%		05/01/2039		1,385		1,514,097
Illinois (State of) Development Finance Authority (CITGO Petroleum Corp.); Series 2002, RB(g)		8.00%		06/01/2032		360		360,246
Illinois (State of) Finance Authority (Centegra Health System); Series 2014 A, RB(b)(k)		5.00%		09/01/2024		1,430		1,447,819
Illinois (State of) Finance Authority (Lutheran Communities Obligated Group);
Series 2019 A, Ref. RB		5.00%		11/01/2040		60		51,174
Series 2019 A, Ref. RB		5.00%		11/01/2049		1,220		962,756
Illinois (State of) Finance Authority (Mercy Health Corp.); Series 2016, Ref. RB		5.00%		12/01/2046		4,075		4,112,508
Illinois (State of) Finance Authority (Park Place of Elmhurst); Series 2016, RB		5.13%		05/15/2060		888		483,343

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

Invesco Municipal Trust

	Interest Rate	Maturity Date	Principal Amount (000)		Value
Illinois–(continued)
Illinois (State of) Finance Authority (Roosevelt University); Series 2007, RB	5.50%	04/01/2037	$	1,000	$	897,661
Illinois (State of) Finance Authority (Three Crowns Park);
Series 2017, Ref. RB	5.00%	02/15/2032		155		154,885
Series 2017, Ref. RB	5.25%	02/15/2037		195		194,617
Illinois (State of) Metropolitan Pier & Exposition Authority (McCormick Place Expansion); Series 2015 A, RB	5.50%	06/15/2053		2,200		2,233,743
Illinois (State of) Sports Facilities Authority; Series 2014, Ref. RB (INS - AGM)(d)	5.25%	06/15/2031		1,205		1,213,953
Illinois (State of) Toll Highway Authority;
Series 2013 A, RB(h)	5.00%	01/01/2038		3,875		3,875,213
Series 2013 A, RB	5.00%	01/01/2038		2,990		2,990,164
Series 2014 B, RB	5.00%	01/01/2037		5,950		5,953,617
						58,836,747
Indiana–1.11%
Fishers Town Hall Building Corp.; Series 2023 A, RB (INS - BAM)(d)	5.63%	07/15/2053		2,435		2,664,138
Indiana (State of) Finance Authority (Ohio Valley Electrical Corp.); Series 2012 A, RB	4.25%	11/01/2030		1,540		1,548,579
Indiana (State of) Finance Authority (US Steel Corp.); Series 2012, RB(g)	5.75%	08/01/2042		240		240,011
Valparaiso (City of), IN (Pratt Paper, LLC); Series 2013, RB(g)	6.75%	01/01/2034		1,500		1,502,355
Whiting (City of), IN (BP Products North America, Inc.); Series 2015, RB(b)(g)	4.40%	06/10/2031		620		623,355
						6,578,438
Iowa–1.46%
Iowa (State of) Board of Regents (University of Iowa Hospital & Clinics); Series 2022 B, RB	3.00%	09/01/2056		615		428,595
Iowa (State of) Finance Authority (Alcoa, Inc.); Series 2012, RB	4.75%	08/01/2042		1,245		1,189,978
Iowa (State of) Finance Authority (Iowa Fertilizer Co.); Series 2022, Ref. RB(b)	5.00%	12/01/2042		2,740		2,741,952
Iowa (State of) Tobacco Settlement Authority;
Series 2021 A-2, Ref. RB	4.00%	06/01/2034		1,300		1,310,343
Series 2021 B-1, Ref. RB	4.00%	06/01/2049		1,200		1,166,322
PEFA, Inc.; Series 2019, RB(b)	5.00%	09/01/2026		1,805		1,831,466
						8,668,656
Kentucky–1.28%
Henderson (City of), KY (Pratt Paper LLC); Series 2022 A, RB(e)(g)	4.70%	01/01/2052		670		619,866
Kentucky (Commonwealth of) Economic Development Finance Authority (Catholic Health Initiatives); Series 2011 B, RB (SIFMA Municipal Swap Index + 1.40%)(b)(o)	4.70%	02/01/2025		710		710,589
Kentucky (Commonwealth of) Economic Development Finance Authority (Louisville Arena Authority, Inc.); Series 2017 A, Ref. RB (INS - AGM)(d)	5.00%	12/01/2047		530		530,126
Kentucky (Commonwealth of) Economic Development Finance Authority (Next Generation Kentucky Information Highway);
Series 2015 A, RB	5.00%	07/01/2037		1,110		1,118,324
Series 2015 A, RB	5.00%	07/01/2040		985		988,182
Series 2015 A, RB	5.00%	01/01/2045		1,335		1,335,510
Kentucky (Commonwealth of) Economic Development Finance Authority (Owensboro Health, Inc.);
Series 2017 A, Ref. RB	5.25%	06/01/2041		1,265		1,267,349
Series 2017 A, Ref. RB	5.00%	06/01/2045		1,015		1,013,201
						7,583,147
Louisiana–0.82%
Jefferson (Parish of), LA Sales Tax District; Series 2019 B, RB (INS - AGM)(d)	4.00%	12/01/2042		1,000		981,460
Louisiana (State of) Local Government Environmental Facilities & Community Development Authority (St. James Parish Gomesa); Series 2019, RB(e)	3.90%	11/01/2044		830		712,393
New Orleans (City of), LA Aviation Board; Series 2015 A, RB	5.00%	01/01/2045		2,680		2,691,203
New Orleans (City of), LA Aviation Board (Parking Facilities Corp. Consolidated Garage System); Series 2018 A, RB (INS - AGM)(d)	5.00%	10/01/2048		495		508,769
						4,893,825
Maryland–0.71%
Brunswick (City of), MD (Brunswick Crossing); Series 2019, RB	5.00%	07/01/2036		384		386,904
Maryland (State of) Health & Higher Educational Facilities Authority (MedStar Health); Series 2017 A, RB	5.00%	05/15/2045		995		1,006,480

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

Invesco Municipal Trust

	Interest Rate	Maturity Date	Principal Amount (000)		Value
Maryland–(continued)
Maryland (State of) Health & Higher Educational Facilities Authority (Stevenson University); Series 2021 A, Ref. RB	4.00%	06/01/2041	$	375	$	352,853
Maryland Economic Development Corp. (Green Bonds); Series 2022, RB(g)	5.25%	06/30/2052		1,540		1,564,826
Prince George’s (County of), MD (Collington Episcopal Life Care Community, Inc.); Series 2017, Ref. RB	5.00%	04/01/2029		905		890,422
						4,201,485
Massachusetts–2.80%
Massachusetts (Commonwealth of);
Series 2004 A, Ref. GO Bonds (INS - AMBAC)(d)	5.50%	08/01/2030		1,500		1,739,917
Series 2023, RB	5.00%	06/01/2053		4,585		4,933,544
Massachusetts (Commonwealth of) (Rail Enhancement Program) (Sustainability Bonds); Series 2022, RB	5.00%	06/01/2050		690		734,838
Massachusetts (Commonwealth of) Development Finance Agency (Atrius Health); Series 2015, Ref. RB	5.00%	01/01/2041		1,205		1,208,940
Massachusetts (Commonwealth of) Development Finance Agency (Boston Medical Center); Series 2023, Ref. RB	5.25%	07/01/2048		1,455		1,526,467
Massachusetts (Commonwealth of) Development Finance Agency (Massachusetts Institute of Technology); Series 2002 K, RB(h)	5.50%	07/01/2032		2,500		3,079,967
Massachusetts (Commonwealth of) Development Finance Agency (Milford Regional Medical Center); Series 2020, Ref. RB(e)	5.00%	07/15/2035		270		254,910
Massachusetts (Commonwealth of) Health & Educational Facilities Authority (Boston College); Series 2008, RB	5.50%	06/01/2026		400		425,215
Massachusetts (Commonwealth of) Port Authority;
Series 2019 A, Ref. RB(g)	5.00%	07/01/2040		1,000		1,040,130
Series 2021 E, RB(g)	5.00%	07/01/2046		1,060		1,096,108
Massachusetts (Commonwealth of) Water Resources Authority; Series 2007 B, Ref. RB (INS - AGM)(d)	5.25%	08/01/2031		500		590,432
						16,630,468
Michigan–4.31%
Academy of Warren; Series 2020 A, RB(e)	5.50%	05/01/2050		250		218,058
Detroit (City of), MI Downtown Development Authority (Catalyst Development); Series 2018 A, Ref. RB (INS - AGM)(d)	5.00%	07/01/2048		2,110		2,113,038
Michigan (State of);
Series 2023, RB	5.00%	11/15/2046		2,800		3,072,581
Series 2023, RB	5.50%	11/15/2049		3,120		3,541,050
Michigan (State of) Building Authority (Facilities Program); Series 2016 I, RB(h)	5.00%	04/15/2041		2,865		2,934,659
Michigan (State of) Finance Authority (Detroit Water & Sewerage Department);
Series 2014 C-3, RB (INS - AGM)(d)	5.00%	07/01/2032		2,500		2,513,333
Series 2014 C-6, Ref. RB	5.00%	07/01/2033		625		627,803
Series 2014 D-4, Ref. RB	5.00%	07/01/2029		625		628,688
Michigan (State of) Finance Authority (Landmark Academy);
Series 2020, Ref. RB	5.00%	06/01/2035		165		152,862
Series 2020, Ref. RB	5.00%	06/01/2045		490		421,730
Michigan (State of) Finance Authority (Trinity Health Credit Group);
Series 2017 MI, RB(h)(j)(k)	5.00%	12/01/2046		3,890		3,932,826
Series 2017, Ref. RB	4.00%	12/01/2040		860		845,927
Michigan (State of) Housing Development Authority; Series 2023 A, RB	5.10%	10/01/2053		1,950		2,033,422
Michigan (State of) Strategic Fund (Green Bonds); Series 2021, RB(b)(g)	4.00%	10/01/2026		2,020		1,979,235
Michigan (State of) Strategic Fund (I-75 Improvement Project); Series 2018, RB(g)	5.00%	06/30/2030		545		570,274
						25,585,486
Minnesota–0.34%
Bethel (City of), MN (Spectrum High School);
Series 2017 A, Ref. RB	4.25%	07/01/2047		305		236,506
Series 2017 A, Ref. RB	4.38%	07/01/2052		500		381,231
Duluth (City of), MN Economic Development Authority (Essentia Health Obligated Group); Series 2018, Ref. RB	5.00%	02/15/2048		595		599,477
St. Paul (City of), MN Housing & Redevelopment Authority (Higher Ground Academy); Series 2023, Ref. RB	5.50%	12/01/2057		500		487,982

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

Invesco Municipal Trust

	Interest Rate		Maturity Date		Principal Amount (000)		Value
Minnesota–(continued)
St. Paul (City of), MN Housing & Redevelopment Authority (Hope Community Academy); Series 2020, RB		5.00%		12/01/2055	$	425	$	310,291
								2,015,487
Mississippi–0.11%
Mississippi Business Finance Corp. (System Energy Resources, Inc.); Series 2021, RB		2.38%		06/01/2044		1,120		659,207
Missouri–2.05%
Kansas City (City of), MO Industrial Development Authority (Downtown Redevelopment District);
Series 2011 A, Ref. RB		5.50%		09/01/2027		750		751,453
Series 2011 A, Ref. RB		5.50%		09/01/2028		1,515		1,517,935
Kansas City (City of), MO Industrial Development Authority (Kansas City International Airport);
Series 2019 B, RB(g)		5.00%		03/01/2046		4,740		4,790,897
Series 2019 B, RB (INS - AGM)(d)(g)		5.00%		03/01/2049		1,005		1,020,492
Kirkwood (City of), MO Industrial Development Authority (Aberdeen Heights); Series 2017 A, Ref. RB		5.25%		05/15/2050		510		376,038
Missouri (State of) Health & Educational Facilities Authority (Lutheran Senior Services);
Series 2014, RB		5.00%		02/01/2035		1,000		991,502
Series 2019, Ref. RB		5.00%		02/01/2048		330		300,275
St. Louis (County of), MO Industrial Development Authority (Friendship Village West County); Series 2018 A, RB		5.00%		09/01/2038		1,845		1,698,184
Taney (County of), MO Industrial Development Authority (Big Cedar Infrastructure); Series 2023, RB(e)		6.00%		10/01/2049		770		750,214
								12,196,990
Nebraska–1.40%
Central Plains Energy Project (No. 3);
Series 2017 A, Ref. RB		5.00%		09/01/2034		205		218,913
Series 2017 A, Ref. RB		5.00%		09/01/2042		3,740		3,896,656
Central Plains Energy Project (No. 5); Series 2022-1, RB(b)		5.00%		10/01/2029		825		849,362
Nebraska Investment Finance Authority; Series 2023 G, RB (CEP - GNMA)		5.35%		09/01/2048		1,030		1,065,325
Omaha (City of), NE Public Power District; Series 2022, RB(h)(j)		5.25%		02/01/2052		2,075		2,265,423
								8,295,679
Nevada–1.55%
Clark (County of), NV Water Reclamation District; Series 2023, GO Bonds		5.00%		07/01/2053		5,185		5,543,579
Las Vegas Valley Water District; Series 2022 A, GO Bonds		4.00%		06/01/2044		3,705		3,661,281
								9,204,860
New Hampshire–0.68%
New Hampshire (State of) Business Finance Authority; Series 2020-1A, RB		4.13%		01/20/2034		303		291,450
New Hampshire (State of) Business Finance Authority (Social Bonds); Series 2022-1A, RB		4.38%		09/20/2036		1,640		1,604,012
New Hampshire (State of) Health and Education Facilities Authority; Series 2020 A, RB		5.00%		08/01/2059		1,105		1,144,751
New Hampshire (State of) Housing Finance Authority; Series 2023 D, RB (CEP - GNMA)		5.13%		07/01/2053		1,000		1,017,033
								4,057,246
New Jersey–8.34%
East Orange (City of), NJ Board of Education;
Series 1998, COP (INS - AGM)(d)(f)		0.00%		02/01/2025		1,845		1,768,723
Series 1998, COP (INS - AGM)(d)(f)		0.00%		02/01/2028		2,850		2,461,829
Essex (County of), NJ Improvement Authority; Series 2004, Ref. RB (INS - NATL)(d)		5.50%		10/01/2028		1,000		1,128,573
Garden State Preservation Trust;
Series 2003 B, RB (INS - AGM)(d)(f)		0.00%		11/01/2025		2,000		1,875,804
Series 2005 A, RB (INS - AGM)(d)		5.75%		11/01/2028		1,000		1,069,613
New Jersey (State of) Economic Development Authority;
Series 2004 A, RB (INS - BHAC)(d)(h)		5.25%		07/01/2026		7,000		7,378,673
Series 2005 N-1, Ref. RB (INS - AMBAC)(d)		5.50%		09/01/2026		1,500		1,597,106
New Jersey (State of) Economic Development Authority (Continental Airlines, Inc.);
Series 1999, RB(g)		5.25%		09/15/2029		455		455,246
Series 2012, RB(g)		5.75%		09/15/2027		450		450,087
New Jersey (State of) Economic Development Authority (Kapkowski Road Landfill); Series 2002, Ref. RB		5.75%		04/01/2031		1,000		988,751
New Jersey (State of) Economic Development Authority (Social Bonds); Series 2021 QQQ, RB		5.00%		06/15/2033		1,460		1,622,834

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

Invesco Municipal Trust

	Interest Rate		Maturity Date		Principal Amount (000)		Value
New Jersey–(continued)
New Jersey (State of) Economic Development Authority (The Goethals Bridge Replacement);
Series 2013, RB(g)		5.13%		01/01/2034	$	1,250	$	1,250,216
Series 2013, RB(g)		5.38%		01/01/2043		1,250		1,250,970
New Jersey (State of) Health Care Facilities Financing Authority (Inspira Health Obligated Group); Series 2017, RB		4.00%		07/01/2047		3,835		3,502,430
New Jersey (State of) Transportation Trust Fund Authority;
Series 2009 A, RB(f)		0.00%		12/15/2039		6,000		2,941,657
Series 2010 A, RB(f)		0.00%		12/15/2030		1,600		1,248,671
Series 2010 A, RB(f)		0.00%		12/15/2031		3,000		2,253,959
Series 2018 A, RN(h)(j)		5.00%		06/15/2029		1,590		1,657,787
Series 2018 A, RN(h)(j)		5.00%		06/15/2030		550		573,127
Series 2018 A, RN(h)(j)		5.00%		06/15/2031		1,005		1,046,388
Series 2021 A, Ref. RB		5.00%		06/15/2033		495		555,441
Series 2022, RB		5.25%		06/15/2046		1,430		1,538,519
New Jersey (State of) Turnpike Authority; Series 2005 A, Ref. RB (INS - AGM)(d)		5.25%		01/01/2027		705		756,182
Rahway Valley Sewerage Authority (The); Series 2005 A, RB (INS - NATL)(d)(f)		0.00%		09/01/2032		5,000		3,681,668
Tobacco Settlement Financing Corp.;
Series 2018 A, Ref. RB		5.00%		06/01/2046		2,935		2,952,565
Series 2018 A, Ref. RB		5.25%		06/01/2046		1,670		1,703,411
Series 2018 B, Ref. RB		5.00%		06/01/2046		1,845		1,850,138
								49,560,368
New Mexico–0.57%
New Mexico (State of) Finance Authority; Series 2023 A-2, RB		5.25%		06/01/2053		2,955		2,994,617
Santa Fe (City of), NM (El Castillo Retirement); Series 2019 A, RB		5.00%		05/15/2049		500		398,883
								3,393,500
New York–22.03%
Build NYC Resource Corp. (Brooklyn Navy Yard); Series 2019, Ref. RB(e)(g)		5.25%		12/31/2033		400		353,415
Erie Tobacco Asset Securitization Corp.; Series 2005 A, RB		5.00%		06/01/2045		2,710		2,505,042
Hudson Yards Infrastructure Corp.; Series 2017 A, Ref. RB		4.00%		02/15/2044		2,525		2,462,043
Metropolitan Transportation Authority; Series 2013 B, RB(b)(k)		5.00%		01/08/2024		1,850		1,852,782
Metropolitan Transportation Authority (Green Bonds);
Series 2016 A-1, RB		5.00%		11/15/2041		1,980		2,001,237
Series 2020 A-1, RB (INS - AGM)(d)		4.00%		11/15/2041		2,000		1,945,620
Series 2020 A-1, RB (INS - BAM)(d)		4.00%		11/15/2053		395		361,468
Series 2020 C-1, RB		5.25%		11/15/2055		1,335		1,380,526
New York & New Jersey (States of) Port Authority;
Eighty-Fifth Series 1993, RB (INS - NATL)(d)		5.38%		03/01/2028		1,240		1,309,013
Series 2020 221, RB(g)		4.00%		07/15/2055		2,345		2,106,729
Two Hundred Fifth Series 2017, Ref. RB		5.25%		11/15/2057		1,645		1,707,897
New York (City of), NY;
Series 2020 C, GO Bonds		5.00%		08/01/2043		2,470		2,649,552
Subseries 2022 D-1, RB(h)		5.25%		05/01/2038		1,355		1,540,777
Subseries 2022 D-1, RB(h)		5.25%		05/01/2042		2,305		2,566,038
Subseries 2023 E-1, GO Bonds		5.25%		04/01/2047		1,505		1,659,708
New York (City of), NY Municipal Water Finance Authority;
Series 2012, VRD RB(n)		3.25%		06/15/2046		4,950		4,950,000
Series 2020 BB-1, RB		4.00%		06/15/2050		1,675		1,637,067
Series 2020 BB-1, RB		5.00%		06/15/2050		3,240		3,439,273
Series 2020, Ref. RB		5.00%		06/15/2050		1,635		1,735,559
Series 2021, VRD RB(n)		1.90%		06/15/2045		3,300		3,300,000
New York (City of), NY Transitional Finance Authority;
Series 2019 B-1, RB		4.00%		11/01/2045		860		846,337
Series 2023 F-1, RB		4.00%		02/01/2051		2,540		2,453,961
Series 2024 B, RB		4.38%		05/01/2053		2,145		2,152,465
Subseries 2013, RB		5.00%		11/01/2038		5,010		5,012,298

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

Invesco Municipal Trust

	Interest Rate		Maturity Date		Principal Amount (000)		Value
New York–(continued)
New York (State of) Dormitory Authority;
Series 2018 A, Ref. RB		5.25%		03/15/2039	$	1,240	$	1,327,015
Series 2018 E, RB(h)		5.00%		03/15/2046		5,715		5,985,296
New York (State of) Dormitory Authority (Bidding Group 3); Series 2017 B, Ref. RB		4.00%		02/15/2047		1,945		1,875,684
New York (State of) Dormitory Authority (Memorial Sloan Kettering Cancer); Series 2022 1-B, RB		4.00%		07/01/2051		3,640		3,438,761
New York (State of) Power Authority; Series 2020 A, RB(h)		4.00%		11/15/2045		3,675		3,636,751
New York (State of) Power Authority (Green Bonds); Series 2020, RB(h)		4.00%		11/15/2055		4,185		4,032,555
New York (State of) Power Authority (Green Transmission) (Green Bonds); Series 2023, RB (INS - AGM)(d)		5.00%		11/15/2053		1,705		1,826,720
New York (State of) Thruway Authority;
Series 2019 B, RB		4.00%		01/01/2050		5,400		4,976,310
Series 2019 B, RB (INS - AGM)(d)(h)(j)		4.00%		01/01/2050		2,625		2,544,326
New York (State of) Thruway Authority (Group 3); Series 2021 A-1, Ref. RB		4.00%		03/15/2046		2,485		2,458,620
New York Counties Tobacco Trust IV; Series 2005 A, RB		5.00%		06/01/2045		285		261,448
New York Counties Tobacco Trust VI; Series 2016 A-1, Ref. RB		5.75%		06/01/2043		3,170		3,237,912
New York Liberty Development Corp. (3 World Trade Center); Series 2014, Class 1, Ref. RB(e)		5.00%		11/15/2044		5,735		5,589,507
New York State Urban Development Corp. (Bidding Group 3); Series 2021 A, Ref. RB		4.00%		03/15/2045		3,350		3,262,221
New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport);
Series 2020, Ref. RB(g)		5.25%		08/01/2031		520		534,544
Series 2020, Ref. RB(g)		5.38%		08/01/2036		940		944,364
Series 2023, RB(g)		5.38%		06/30/2060		2,115		2,116,865
New York Transportation Development Corp. (American Airlines, Inc.);
Series 2016, Ref. RB(g)		5.00%		08/01/2026		1,000		1,000,038
Series 2016, Ref. RB(g)		5.00%		08/01/2031		1,440		1,439,904
New York Transportation Development Corp. (Delta Air Lines, Inc. LaGuardia Airport Terminals C&D Redevelopment);
Series 2018, RB(g)		5.00%		01/01/2033		2,100		2,127,151
Series 2018, RB(g)		5.00%		01/01/2034		2,320		2,348,265
Series 2018, RB(g)		5.00%		01/01/2036		1,860		1,873,016
Series 2020, RB(g)		5.00%		10/01/2040		2,005		1,996,848
Series 2020, RB(g)		4.38%		10/01/2045		1,175		1,060,674
New York Transportation Development Corp. (LaGuardia Airport Terminal B Redevelopment);
Series 2016 A, RB(g)		5.00%		07/01/2046		3,235		3,206,999
Series 2016 A, RB(g)		5.25%		01/01/2050		1,775		1,775,042
New York Transportation Development Corp. (Terminal 4 JFK International Airport); Series 2022, RB(g)		5.00%		12/01/2038		1,870		1,950,610
Onondaga (County of), NY Trust for Cultural Resources (Syracuse University); Series 2019, Ref. RB		4.00%		12/01/2047		690		679,272
Rockland Tobacco Asset Securitization Corp.; Series 2001, RB		5.75%		08/15/2043		1,735		1,761,554
Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels);
Series 2020 A, RB		5.00%		11/15/2054		750		791,440
Series 2021 A, RB		5.00%		11/15/2056		1,135		1,200,091
Series 2022, RB(h)		5.00%		05/15/2051		5,475		5,795,073
TSASC, Inc.; Series 2016 B, Ref. RB		5.00%		06/01/2045		2,125		1,886,642
								130,870,325
North Carolina–0.33%
Charlotte-Mecklenburg Hospital Authority (The) (Atrium Health); Series 2018 G, VRD RB(n)		2.10%		01/15/2048		445		445,000
Raleigh (City of), NC Combined Enterprise System; Series 2023, Ref. RB		4.00%		09/01/2053		1,545		1,513,752
								1,958,752
North Dakota–0.56%
Ward (County of), ND (Trinity Obligated Group);
Series 2017 C, RB		5.00%		06/01/2048		2,350		1,935,975
Series 2017 C, RB		5.00%		06/01/2053		1,745		1,380,849
								3,316,824
Ohio–5.81%
Akron, Bath & Copley Joint Township Hospital District (Summa Health Obligated Group); Series 2016, Ref. RB		5.25%		11/15/2046		2,645		2,657,479

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

Invesco Municipal Trust

	Interest Rate		Maturity Date		Principal Amount (000)		Value
Ohio–(continued)
Buckeye Tobacco Settlement Financing Authority;
Series 2020 A-2, Ref. RB		4.00%		06/01/2048	$	5,290	$	4,635,648
Series 2020 B-2, Ref. RB		5.00%		06/01/2055		7,845		6,931,385
Series 2020 B-3, Ref. RB(f)		0.00%		06/01/2057		8,605		884,397
Cleveland (City of) & Cuyahoga (County of), OH Port Authority (Constellation Schools); Series 2014 A, Ref. RB(e)		6.50%		01/01/2034		1,100		1,100,063
Cleveland (City of), OH (Continental Airlines, Inc.); Series 1998, RB(g)		5.38%		09/15/2027		805		805,049
Columbus (City of) & Franklin (County of), OH Finance Authority (Easton); Series 2020, RB(e)		5.00%		06/01/2028		645		643,534
Cuyahoga (County of), OH (MetroHealth System);
Series 2017, Ref. RB		5.25%		02/15/2047		1,140		1,145,485
Series 2017, Ref. RB		5.50%		02/15/2052		845		855,141
Franklin (County of), OH (Nationwide Children’s Hospital); Series 2019, RB		5.00%		11/01/2048		1,360		1,461,094
Hamilton (County of), OH; Series 2000 B, RB (INS - AMBAC)(d)(f)		0.00%		12/01/2023		2,000		2,000,000
Hamilton (County of), OH (Cincinnati Children’s Hospital); Series 2019 CC, RB		5.00%		11/15/2049		1,645		1,790,440
Hamilton (County of), OH (Life Enriching Communities); Series 2016, Ref. RB		5.00%		01/01/2046		1,490		1,330,672
Montgomery (County of), OH (Trousdale Foundation Properties); Series 2018 A, RB(c)(e)		6.00%		04/01/2038		1,410		408,900
Muskingum (County of), OH (Genesis Healthcare System); Series 2013, RB		5.00%		02/15/2044		920		845,752
Ohio (State of); Series 2014, Ref. VRD RB(n)		3.80%		01/15/2045		2,000		2,000,000
Ohio (State of) (University Hospitals Health System, Inc.); Series 2020 A, Ref. RB		4.00%		01/15/2050		2,515		2,249,796
Ohio (State of) Air Quality Development Authority (Pratt Paper LLC); Series 2017, RB(e)(g)		4.25%		01/15/2038		585		553,411
Ohio (State of) Housing Finance Agency (Covenant House Apartments); Series 2008 C, RB (CEP - GNMA)(g)		5.85%		09/20/2028		285		285,207
Ohio (State of) Municipal Electric Generation Agency (Joint Venture 5); Series 2001, Beneficial Interest Ctfs. (INS - NATL)(d)(f)		0.00%		02/15/2030		1,000		800,370
Ohio State University (The);
Series 2010 D, RB(k)		5.00%		12/01/2030		45		51,195
Series 2010 D, RB		5.00%		12/01/2030		955		1,087,111
								34,522,129
Oklahoma–1.30%
Oklahoma (State of) Development Finance Authority (OU Medicine);
Series 2018 B, RB		5.50%		08/15/2052		3,780		3,660,115
Series 2018 B, RB		5.50%		08/15/2057		1,240		1,190,702
Oklahoma (State of) Development Finance Authority (Provident Oklahoma Education Resources, Inc.-Cross Village Student Housing); Series 2017, RB(c)		5.00%		08/01/2052		1,945		1,945
Oklahoma (State of) Turnpike Authority; Series 2023, RB		5.50%		01/01/2053		1,155		1,277,137
Oklahoma (State of) Water Resources Board (2019 Master Trust);
Series 2023, RB		4.00%		04/01/2048		720		710,983
Series 2023, RB		4.13%		04/01/2053		895		858,909
								7,699,791
Ontario–0.14%
Affordable Housing Tax-Exempt Bond Pass-Thru Trust; Series 2023-1, RB(e)		6.00%		10/05/2040		838		838,698
Oregon–1.21%
Clackamas (County of), OR Hospital Facility Authority (Rose Villa); Series 2020 A, Ref. RB		5.38%		11/15/2055		500		444,169
Oregon (State of); Series 2019, GO Bonds(h)(j)		5.00%		08/01/2044		3,350		3,577,565
Portland (Port of), OR (Green Bonds); Twenty Ninth Series 2023, RB(g)		5.50%		07/01/2053		1,425		1,538,464
Portland (Port of), OR (Portland International Airport); Series 2022 28, RB(g)		5.00%		07/01/2052		1,605		1,655,092
								7,215,290
Pennsylvania–4.18%
Allegheny (County of), PA Airport Authority (Pittsburgh Airport); Series 2023 A, RB (INS - AGM)(d)(g)		5.50%		01/01/2048		1,340		1,450,383
Allegheny (County of), PA Hospital Development Authority (Allegheny Health Network Obligated Group Issue); Series 2018 A, Ref. RB		4.00%		04/01/2044		2,905		2,709,506
Coatesville School District; Series 2020 A, GO Bonds (INS - BAM)(d)(f)		0.00%		10/01/2036		650		376,080
Franklin (County of), PA Industrial Development Authority (Menno-Haven, Inc.); Series 2018, Ref. RB		5.00%		12/01/2024		500		495,441
Lancaster (County of), PA Hospital Authority (Penn State Health);
Series 2021, RB		5.00%		11/01/2046		515		528,983
Series 2021, RB		5.00%		11/01/2051		685		702,558

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

Invesco Municipal Trust

	Interest Rate		Maturity Date		Principal Amount (000)		Value
Pennsylvania–(continued)
Pennsylvania (Commonwealth of) Economic Development Financing Authority (Penndot Major Bridges);
Series 2022, RB(g)		5.25%		06/30/2053	$	2,015	$	2,081,368
Series 2022, RB (INS - AGM)(d)(g)		5.00%		12/31/2057		1,010		1,021,717
Pennsylvania (Commonwealth of) Economic Development Financing Authority (UPMC);
Series 2021 A, Ref. RB		4.00%		10/15/2039		660		648,003
Series 2023 A-2, RB		4.00%		05/15/2048		545		497,681
Pennsylvania (Commonwealth of) Turnpike Commission;
Series 2014 A, RB		4.75%		12/01/2037		990		1,015,397
Series 2014 A-2, RB(i)		5.13%		12/01/2039		2,000		2,027,800
Series 2019 A, RB		5.00%		12/01/2049		220		229,313
Series 2020 B, RB		5.00%		12/01/2050		595		627,339
Series 2021 A, RB		4.00%		12/01/2050		1,250		1,173,717
Philadelphia (City of), PA;
Series 2017 B, Ref. RB(g)		5.00%		07/01/2042		5,295		5,402,051
Series 2017 B, Ref. RB(g)		5.00%		07/01/2047		525		531,618
Series 2021, Ref. RB (INS - AGM)(d)(g)		4.00%		07/01/2041		1,230		1,177,308
Philadelphia (City of), PA Authority for Industrial Development (St. Joseph’s University); Series 2022, RB		5.50%		11/01/2060		1,670		1,755,300
Philadelphia (City of), PA Authority for Industrial Development (String Theory Charter School); Series 2020, Ref. RB(e)		5.00%		06/15/2050		400		361,423
								24,812,986
Puerto Rico–5.54%
Children’s Trust Fund;
Series 2002, RB		5.50%		05/15/2039		2,975		2,982,518
Series 2002, RB		5.63%		05/15/2043		1,490		1,506,917
Series 2005 A, RB(f)		0.00%		05/15/2050		5,915		1,089,335
Series 2005 B, RB(f)		0.00%		05/15/2055		2,540		270,480
Series 2008 A, RB(f)		0.00%		05/15/2057		14,970		1,106,353
Series 2008 B, RB(f)		0.00%		05/15/2057		37,695		2,111,681
Puerto Rico (Commonwealth of);
Series 2021 A-1, GO Bonds		5.63%		07/01/2027		1,170		1,222,795
Series 2021 A-1, GO Bonds		4.00%		07/01/2035		1,260		1,155,447
Series 2021 A-1, GO Bonds		4.00%		07/01/2037		980		877,959
Subseries 2022, RN		0.00%		11/01/2043		750		391,010
Subseries 2022, RN		0.00%		11/01/2051		1,417		743,845
Puerto Rico (Commonwealth of) Electric Power Authority;
Series 2007 VV, Ref. RB (INS - NATL)(d)		5.25%		07/01/2032		1,840		1,819,489
Series 2007 VV, Ref. RB (INS - NATL)(d)		5.25%		07/01/2033		735		729,352
Series 2007 VV, Ref. RB (INS - NATL)(d)		5.25%		07/01/2035		645		633,461
Puerto Rico (Commonwealth of) Highway & Transportation Authority; Series 2022 A, RB		5.00%		07/01/2062		1,680		1,663,200
Puerto Rico Sales Tax Financing Corp.;
Series 2018 A-1, RB(f)		0.00%		07/01/2027		450		388,679
Series 2018 A-1, RB(f)		0.00%		07/01/2029		1,495		1,182,483
Series 2018 A-1, RB(f)		0.00%		07/01/2033		2,458		1,611,225
Series 2018 A-1, RB(f)		0.00%		07/01/2046		8,305		2,450,747
Series 2018 A-1, RB(f)		0.00%		07/01/2051		10,905		2,372,494
Series 2018 A-1, RB		4.75%		07/01/2053		1,320		1,249,212
Series 2018 A-1, RB		5.00%		07/01/2058		4,310		4,189,664
Series 2019 A-2, RB		4.33%		07/01/2040		1,230		1,167,327
								32,915,673
Rhode Island–0.36%
Tobacco Settlement Financing Corp.; Series 2015 B, Ref. RB		5.00%		06/01/2050		2,185		2,139,936
South Carolina–0.34%
Patriots Energy Group Financing Agency; Series 2023 A-1, RB(b)		5.25%		08/01/2031		1,940		2,041,863

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

Invesco Municipal Trust

	Interest Rate		Maturity Date		Principal Amount (000)		Value
South Dakota–0.90%
South Dakota (State of) Health & Educational Facilities Authority (Avera Health); Series 2017, Ref. RB		5.00%		07/01/2046	$	2,040	$	2,062,298
South Dakota (State of) Health & Educational Facilities Authority (Sanford Obligated Group); Series 2014 B, RB		5.00%		11/01/2044		2,185		2,193,126
South Dakota (State of) Housing Development Authority; Series 2023 G, RB (CEP - GNMA)		4.90%		11/01/2043		1,055		1,079,335
								5,334,759
Tennessee–3.48%
Chattanooga (City of), TN Health, Educational & Housing Facility Board (CommonSpirit Health); Series 2019 A-2, Ref. RB		5.00%		08/01/2049		1,260		1,270,692
Greeneville (Town of), TN Health & Educational Facilities Board (Ballad Health Obligated Group); Series 2018 A, Ref. RB		5.00%		07/01/2037		1,800		1,859,702
Kingsport (City of), TN; Series 2023, GO Bonds		4.13%		03/01/2053		2,035		1,969,924
Knox (County of), TN & Knoxville (City of), TN Sports Authority (Multi-Use Stadium); Series 2023 A, RB		6.00%		12/01/2054		6,000		6,838,004
Knoxville (City of), TN; Series 2022 OO, RB		4.00%		07/01/2052		3,225		3,089,295
Memphis (City of) & Shelby (County of), TN Airport Authority; Series 2018, RB(g)		5.00%		07/01/2043		1,305		1,330,850
Metropolitan Nashville Airport Authority (The); Series 2019 B, RB(g)		5.00%		07/01/2054		940		954,256
Nashville (City of) & Davidson (County of), TN Metropolitan Government Health & Educational Facilities Board (The) (Lipscomb University); Series 2019 A, Ref. RB		5.00%		10/01/2034		715		741,581
Tennessee Energy Acquisition Corp.; Series 2021 A, RB(b)		5.00%		11/01/2031		2,510		2,606,898
								20,661,202
Texas–14.13%
Austin (City of), TX; Series 2022, RB(g)		5.25%		11/15/2047		1,180		1,246,132
Bay Area Toll Authority (San Francisco Bay Area); Series 2023, VRD RB (LOC - Barclays Bank PLC)(e)(n)(p)		2.40%		06/01/2063		820		820,000
Central Texas Regional Mobility Authority; Series 2020 A, Ref. RB		5.00%		01/01/2049		980		1,000,351
Clifton Higher Education Finance Corp. (Idea Public Schools); Series 2021 T, RB (CEP - Texas Permanent School Fund)		4.00%		08/15/2050		1,360		1,288,530
Clifton Higher Education Finance Corp. (International Leadership of Texas); Series 2018 D, RB		5.75%		08/15/2033		1,675		1,698,647
Crowley Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)		4.25%		02/01/2053		1,650		1,656,407
Denton (County of), TX; Series 2023, Ref. GO Bonds		4.00%		07/15/2048		4,250		4,139,840
El Paso (City of), TX; Series 2022 A, RB		4.00%		03/01/2048		3,065		2,945,484
Forney Independent School District; Series 2022 B, GO Bonds (CEP - Texas Permanent School Fund)		4.00%		08/15/2052		2,225		2,107,866
Greater Texoma Utility Authority (City of Sherman);
Series 2023 A, RB (INS - BAM)(d)		4.38%		10/01/2053		1,340		1,313,393
Series 2023, RB (INS - AGM)(d)		4.25%		10/01/2053		1,430		1,372,407
Harris (County of), TX Toll Road Authority (The); Series 2021, Ref. RB		4.00%		08/15/2050		1,295		1,252,835
Harris County Industrial Development Corp. (Energy Transfer L.P.); Series 2023, Ref. RB(b)		4.05%		06/01/2033		1,345		1,339,965
Houston (City of), TX; Series 2023 A, Ref. RB (INS - AGM)(d)(g)		5.25%		07/01/2048		1,725		1,826,167
Houston (City of), TX Airport System (United Airlines, Inc. Terminal E);
Series 2014, Ref. RB(g)		4.75%		07/01/2024		565		564,724
Series 2021 A, RB(g)		4.00%		07/01/2041		585		493,950
Houston (City of), TX Airport System (United Airlines, Inc.); Series 2018, RB(g)		5.00%		07/15/2028		495		494,447
Jarrell Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)		4.25%		02/15/2053		1,360		1,363,815
La Vernia Higher Education Finance Corp. (Meridian World School); Series 2015 A, RB(b)(e)(k)		5.50%		08/15/2024		1,330		1,344,070
Lamar Consolidated Independent School District; Series 2023, GO Bonds		4.00%		02/15/2053		1,860		1,732,933
Lockhart Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)		4.13%		08/01/2053		1,250		1,218,771
Lower Colorado River Authority (LCRA Transmission Services Corp.); Series 2022, Ref. RB		5.50%		05/15/2047		1,170		1,278,771
Mission Economic Development Corp. (Natgasoline); Series 2018, Ref. RB(e)(g)		4.63%		10/01/2031		3,085		2,997,026
Montgomery Independent School District;
Series 2023, GO Bonds (CEP - Texas Permanent School Fund)		4.00%		02/15/2048		885		863,742
Series 2023, GO Bonds (CEP - Texas Permanent School Fund)		4.00%		02/15/2053		685		661,098
New Hope Cultural Education Facilities Finance Corp. (4-K Housing, Inc.-Stoney Brook); Series 2017 B, RB(c)		5.00%		07/01/2052		1,500		600,000
New Hope Cultural Education Facilities Finance Corp. (Buckingham Senior Living Community);
Series 2021 A-1, RB		7.50%		11/15/2037		60		45,434
Series 2021, RB		2.00%		11/15/2061		1,611		595,080
New Hope Cultural Education Facilities Finance Corp. (Carillon Lifecare Community);
Series 2016, Ref. RB		5.00%		07/01/2036		650		539,565
Series 2016, Ref. RB		5.00%		07/01/2046		800		579,784

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

Invesco Municipal Trust

	Interest Rate		Maturity Date		Principal Amount (000)		Value
Texas–(continued)
New Hope Cultural Education Facilities Finance Corp. (CHF-Collegiate Housing College Station I, LLC - Texas A&M University); Series 2014 A, RB (INS - AGM)(d)		5.00%		04/01/2046	$	520	$	508,706
New Hope Cultural Education Facilities Finance Corp. (Children’s Health System of Texas); Series 2017 A, Ref. RB		5.00%		08/15/2047		1,440		1,470,011
New Hope Cultural Education Facilities Finance Corp. (Jubilee Academic Center); Series 2021, Ref. RB(e)		4.00%		08/15/2051		1,010		733,367
New Hope Cultural Education Facilities Finance Corp. (Longhorn Village);
Series 2017, Ref. RB		5.00%		01/01/2042		495		436,831
Series 2017, Ref. RB		5.00%		01/01/2047		620		530,651
New Hope Cultural Education Facilities Finance Corp. (Presbyterian Village North);
Series 2018, Ref. RB		5.00%		10/01/2031		560		520,753
Series 2018, Ref. RB		5.00%		10/01/2032		1,015		933,724
Series 2020, RB		5.25%		10/01/2055		2,505		1,880,428
North East Texas Regional Mobility Authority; Series 2016 A, RB		5.00%		01/01/2041		3,065		3,087,623
San Antonio (City of), TX; Series 2023 A, Ref. RB		5.25%		02/01/2046		3,060		3,378,110
Tarrant (County of), TX Hospital District;
Series 2023, GO Bonds		4.25%		08/15/2048		805		790,280
Series 2023, GO Bonds		4.25%		08/15/2053		2,280		2,210,753
Tarrant County Cultural Education Facilities Finance Corp. (Air Force Village Obligated Group);
Series 2016, Ref. RB		5.00%		05/15/2037		2,295		2,020,445
Series 2016, Ref. RB		5.00%		05/15/2045		1,660		1,337,667
Tarrant County Cultural Education Facilities Finance Corp. (C.C. Young Memorial Home);
Series 2007, RB (Acquired 12/19/2007; Cost $286,020)(c)(q)		5.75%		02/15/2025		305		167,750
Series 2017 A, RB(c)		6.38%		02/15/2048		1,940		1,067,000
Tarrant County Cultural Education Facilities Finance Corp. (MRC Stevenson Oaks);
Series 2020, Ref. RB		6.63%		11/15/2041		85		77,958
Series 2020, Ref. RB		6.75%		11/15/2051		85		75,075
Series 2020, Ref. RB		6.88%		11/15/2055		85		75,609
Texas (State of) Transportation Commission; Series 2019, RB(f)		0.00%		08/01/2043		3,000		1,124,372
Texas (State of) Transportation Commission (Central Texas Turnpike System);
Series 2015 B, Ref. RB(f)		0.00%		08/15/2036		3,475		2,003,882
Series 2015 B, Ref. RB(f)		0.00%		08/15/2037		1,175		636,060
Series 2015 C, Ref. RB		5.00%		08/15/2042		2,415		2,423,172
Texas (State of) Water Development Board; Series 2023 A, RB		4.88%		10/15/2048		2,430		2,593,773
Texas City Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)		4.00%		08/15/2053		1,430		1,387,649
Texas Municipal Gas Acquisition & Supply Corp. I; Series 2008 D, RB		6.25%		12/15/2026		2,665		2,753,629
Texas Private Activity Bond Surface Transportation Corp. (Blueridge Transportation Group, LLC SH 288 Toll Lanes); Series 2016, RB(g)		5.00%		12/31/2055		1,140		1,141,550
Texas Water Development Board; Series 2022, RB(h)		5.00%		10/15/2047		3,345		3,631,701
Travis County Cultural Education Facilities Finance Corp. (Wayside Schools); Series 2012 A, RB		5.25%		08/15/2042		10		9,322
Waco (City of), TX; Series 2023 A, Ctfs. Of Obligation		4.00%		02/01/2053		2,475		2,388,934
Waller Consolidated Independent School District; Series 2023, GO Bonds (INS - BAM)(d)		4.00%		02/15/2053		3,360		3,188,591
								83,966,610
Utah–1.62%
Black Desert Public Infrastructure District; Series 2021 A, GO Bonds(e)		4.00%		03/01/2051		500		365,002
Military Installation Development Authority; Series 2021 A-2, RB		4.00%		06/01/2052		500		354,762
Salt Lake City (City of), UT;
Series 2021 A, RB(g)		5.00%		07/01/2046		835		862,359
Series 2023 A, RB(g)		5.50%		07/01/2053		2,870		3,098,520
Utah (County of), UT (IHC Health Services, Inc.); Series 2016 B, RB		4.00%		05/15/2047		3,300		3,034,415
Utah (State of) Charter School Finance Authority (Ogden Preparatory Academy); Series 2022 A, Ref. RB		4.38%		10/15/2047		835		774,519
Utah Telecommunication Open Infrastructure Agency; Series 2022, Ref. RB		4.38%		06/01/2040		1,115		1,132,745
								9,622,322
Virginia–2.91%
Chesapeake (City of), VA Expressway; Series 2012 A, RB		5.00%		07/15/2047		2,540		2,540,453
Hampton (City of), VA Roads Transportation Accountability Commission; Series 2022 A, RB		4.00%		07/01/2052		2,895		2,803,887
Isle of Wight County Economic Development Authority; Series 2023, RB (INS -AGM)(d)		5.25%		07/01/2048		1,305		1,390,901

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

Invesco Municipal Trust

	Interest Rate		Maturity Date		Principal Amount (000)		Value
Virginia–(continued)
Peninsula Town Center Community Development Authority; Series 2018, Ref. RB(e)		5.00%		09/01/2045	$	340	$	314,104
Roanoke (City of), VA Economic Development Authority (Richfield Living); Series 2020, RB(c)		5.00%		09/01/2050		325		185,250
Virginia (Commonwealth of) Housing Development Authority; Series 2023 F, RB (CEP - Federal Housing Administration)		5.25%		11/01/2053		1,140		1,171,099
Virginia (Commonwealth of) Small Business Financing Authority (95 Express Lanes LLC); Series 2022, Ref. RB(g)		5.00%		01/01/2037		3,120		3,263,255
Virginia (Commonwealth of) Small Business Financing Authority (I-495 Hot Lanes);
Series 2022, Ref. RB(g)		5.00%		12/31/2047		560		573,841
Series 2022, Ref. RB(g)		5.00%		12/31/2057		1,630		1,650,312
Virginia (Commonwealth of) Small Business Financing Authority (Transform 66 P3);
Series 2017, RB(g)		5.00%		12/31/2049		910		914,394
Series 2017, RB(g)		5.00%		12/31/2056		2,500		2,504,869
								17,312,365
Washington–3.64%
Bellevue (City of), WA Convention Center Authority (Compound Interest); Series 1994, Ref. RB(f)(k)		0.00%		02/01/2024		5,000		4,973,611
Kalispel Tribe of Indians; Series 2018 A, RB(e)		5.25%		01/01/2038		1,320		1,356,320
Seattle (City of), WA; Series 2022, Ref. RB		5.00%		07/01/2052		2,435		2,590,250
Tacoma (City of), WA; Series 2023, RB(h)		4.00%		12/01/2047		2,785		2,688,039
Washington (State of) (Bid Group 2); Series 2024 A, GO Bonds		5.00%		08/01/2044		1,875		2,070,418
Washington (State of) Convention Center Public Facilities District; Series 2018, RB		5.00%		07/01/2048		3,480		3,545,452
Washington (State of) Health Care Facilities Authority (Seattle Cancer Care Alliance); Series 2020, Ref. RB		5.00%		09/01/2055		1,655		1,694,015
Washington (State of) Housing Finance Commission (Bayview Manor Homes);
Series 2016 A, Ref. RB(e)		5.00%		07/01/2046		435		332,547
Series 2016 A, Ref. RB(e)		5.00%		07/01/2051		360		265,283
Washington (State of) Housing Finance Commission (Social Certificates); Series 2021-1A, Revenue Ctfs.		3.50%		12/20/2035		1,199		1,103,608
Washington (State of) Tobacco Settlement Authority; Series 2013, Ref. RB		5.25%		06/01/2033		1,000		980,976
								21,600,519
West Virginia–0.45%
Monongalia (County of), WV Commission Special District (University Town Centre Economic Opportunity Development District); Series 2020, Ref. RB(e)		7.50%		06/01/2043		830		899,500
West Virginia (State of) Hospital Finance Authority (West Virginia University Health System Obligated Group); Series 2023, RB		4.25%		06/01/2047		1,790		1,778,536
								2,678,036
Wisconsin–4.16%
Wisconsin (State of) Center District;
Series 2020 D, RB (INS - AGM)(d)(f)		0.00%		12/15/2050		6,520		1,819,480
Series 2020 D, RB (INS - AGM)(d)(f)		0.00%		12/15/2060		29,455		4,961,503
Series 2022, RB(e)		5.25%		12/15/2061		1,705		1,656,276
Wisconsin (State of) Health & Educational Facilities Authority (Aspirus, Inc. Obligated Group); Series 2021, RB		4.00%		08/15/2051		2,800		2,531,161
Wisconsin (State of) Health & Educational Facilities Authority (Froedtert Health); Series 2022 A, Ref. RB		4.00%		04/01/2042		2,510		2,393,160
Wisconsin (State of) Health & Educational Facilities Authority (Gundersen Health system); Series 2021 A, Ref. RB		3.00%		10/15/2038		1,680		1,375,284
Wisconsin (State of) Health & Educational Facilities Authority (Medical College of Wisconsin); Series 2022, Ref. RB		4.00%		12/01/2051		1,540		1,416,791
Wisconsin (State of) Public Finance Authority (American Dream at Meadowlands);
Series 2017, RB(c)(e)		6.75%		08/01/2031		915		640,500
Series 2017, RB(e)		6.75%		12/01/2042		2,135		1,951,715
Wisconsin (State of) Public Finance Authority (Explore Academy);
Series 2020 A, RB(e)		6.13%		02/01/2050		415		355,402
Series 2022 A, RB(e)		6.13%		02/01/2050		450		385,376
Wisconsin (State of) Public Finance Authority (Mallard Creek STEM Academy); Series 2019 A, RB(e)		5.13%		06/15/2039		625		592,595
Wisconsin (State of) Public Finance Authority (Maryland Proton Treatment Center); Series 2018 A-1, RB(e)		6.38%		01/01/2048		650		399,750

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

Invesco Municipal Trust

	Interest Rate		Maturity Date		Principal Amount (000)		Value
Wisconsin–(continued)
Wisconsin (State of) Public Finance Authority (Prime Healthcare Foundation, Inc.);
Series 2018 A, RB		5.20%		12/01/2037	$	1,675	$	1,693,374
Series 2018 A, RB		5.35%		12/01/2045		1,675		1,678,354
Wisconsin (State of) Public Finance Authority (Roseman University of Health Sciences); Series 2015, Ref. RB		5.75%		04/01/2035		875		887,165
								24,737,886
Wyoming–0.17%
University of Wyoming; Series 2021 C, RB (INS - AGM)(d)		4.00%		06/01/2044		1,065		1,037,988
Total Municipal Obligations (Cost $913,604,243)								904,546,876
					Shares
Exchange-Traded Funds–0.09%
Invesco Municipal Strategic Income ETF (Cost $512,037)(r)						10,050		499,752
TOTAL INVESTMENTS IN SECURITIES(s)–152.34% (Cost $914,116,280)								905,046,628
FLOATING RATE NOTE OBLIGATIONS–(9.95)%
Notes with interest and fee rates ranging from 3.82% to 3.86% at 11/30/2023 and contractual maturities of collateral ranging from 07/01/2026 to 11/15/2055(t)								(59,140,000	)
VARIABLE RATE MUNI TERM PREFERRED SHARES–(40.86)%								(242,745,480	)
OTHER ASSETS LESS LIABILITIES–(1.53)%								(9,051,170	)
NET ASSETS APPLICABLE TO COMMON SHARES–100.00%							$	594,109,978

Investment Abbreviations:

AGM	– Assured Guaranty Municipal Corp.
AMBAC	– American Municipal Bond Assurance Corp.
BAM	– Build America Mutual Assurance Co.
BHAC	– Berkshire Hathaway Assurance Corp.
CEP	– Credit Enhancement Provider
COP	– Certificates of Participation
Ctfs.	– Certificates
ETF	– Exchange-Traded Fund
FHLMC	– Federal Home Loan Mortgage Corp.
GNMA	– Government National Mortgage Association
GO	– General Obligation
IDR	– Industrial Development Revenue Bonds
INS	– Insurer
LOC	– Letter of Credit
NATL	– National Public Finance Guarantee Corp.
RAC	– Revenue Anticipation Certificates
RB	– Revenue Bonds
Ref.	– Refunding
RN	– Revenue Notes
SIFMA	– Securities Industry and Financial Markets Association
VRD	– Variable Rate Demand
Wts.	– Warrants

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

Invesco Municipal Trust

Notes to Schedule of Investments:

^(a)  Calculated as a percentage of net assets. Amounts in excess of 100% are due to the Trust’s use of leverage.

^(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 November 30, 2023 was $4,102,868, which represented less than 1% of the Trust’s Net Assets.

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

^(e)  Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at November 30, 2023 was $48,082,394, which represented 8.09% of the Trust’s Net Assets.

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

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

^(h)  Underlying security related to TOB Trusts entered into by the Trust.

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

^(j)  Security is subject to a reimbursement agreement which may require the Trust 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 Trust could ultimately be required to make under the agreement is $19,000,000. However, such shortfall payment would be reduced by the proceeds from the sale of the security underlying the TOB Trusts.

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

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

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

⁽ⁿ⁾  Demand security payable upon demand by the Trust at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on November 30, 2023.

^(o)  Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on November 30, 2023.

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

^(q)  Restricted security. The value of this security at November 30, 2023 represented less than 1% of the Trust’s Net Assets.

^(r)  Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Trust owns 5% or more of the outstanding voting securities. The table below shows the Trust’s transactions in, and earnings from, its investments in affiliates for the nine months ended November 30, 2023.

	Value February 28, 2023	Purchases at Cost	Proceeds from Sales	Change in Unrealized Appreciation (Depreciation)	Realized Gain	Value November 30, 2023	Dividend Income
Invesco Municipal Strategic Income ETF	$500,445	$-	$-	$(693)	$-	$499,752	$15,306

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

Entity	Percent
Assured Guaranty Municipal Corp.		5.21	%

^(t)  Floating rate note obligations related to securities held. The interest and fee rates shown reflect the rates in effect at November 30, 2023. At November 30, 2023, the Trust’s investments with a value of $86,275,683 are held by TOB Trusts and serve as collateral for the $59,140,000 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 Municipal Trust

Notes to Quarterly Schedule of Portfolio Holdings

November 30, 2023

(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 November 30, 2023. 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		$           –		$903,891,382		$655,494		$904,546,876
Exchange-Traded Funds		499,752		–		–		499,752
Total Investments		$499,752		$903,891,382		$655,494		$905,046,628

Invesco Municipal Trust