Schedule of Investments

November 30, 2023

(Unaudited)

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
Municipal Obligations–108.56%
California–103.72%
ABAG Finance Authority for Nonprofit Corps. (Sharp Healthcare); Series 2014 A, RB	5.00%	08/01/2043	$	500	$	500,207
Adelanto (City of), CA Improvement Agency; Series 1993 B, Ref. RB (INS - FGIC)(a)	5.50%	12/01/2023		5		5,000
Adelanto Community Facilities District No. 2006-2 (Improvement Area No. 2); Series 2015 A, RB	5.00%	09/01/2045		1,000		1,006,326
Adelanto Public Utility Authority (Utility System);
Series 2014 A, RB	5.00%	07/01/2024		245		245,189
Series 2014 A, RB	5.00%	07/01/2039		5,710		5,681,539
Series 2017 A, Ref. RB (INS - AGM)(a)	5.00%	07/01/2039		2,000		2,103,912
Adelanto School District (Community Facilities District No. 4); Series 2023, RB	5.75%	09/01/2053		1,400		1,462,686
Alameda (City of), CA Corridor Transportation Authority; Series 2022 C, RB (INS - AGM)(a)	5.00%	10/01/2052		7,000		7,365,009
Alvord Unified School District; Series 2023 A, GO Bonds (INS - BAM)(a)	5.00%	08/01/2052		10,000		10,805,992
Anaheim (City of), CA Public Financing Authority (Anaheim Convention Center Expansion);
Series 2014 A, Ref. RB(b)(c)	5.00%	05/01/2024		1,350		1,361,035
Atwater (City of), CA;
Series 2017 A, Ref. RB (INS - AGM)(a)	5.00%	05/01/2040		1,250		1,304,943
Series 2017 A, Ref. RB (INS - AGM)(a)	5.00%	05/01/2043		1,300		1,350,232
Bakersfield (City of), CA (Assessment District No. 07-2); Series 2008, RB	7.38%	09/02/2028		675		678,945
Bay Area Toll Authority (San Francisco Bay Area); Series 2017, Ref. RB	4.00%	04/01/2049		630		627,247
Beaumont (City of), CA (Community Facilities District No. 2016-1);
Series 2019, RB	5.00%	09/01/2030		125		131,242
Series 2019, RB	5.00%	09/01/2031		140		146,809
Series 2019, RB	5.00%	09/01/2049		775		786,581
Beaumont (City of), CA Financing Authority (Improvement Area No. 19A); Series 2015 B, Ref. RB	5.00%	09/01/2025		1,065		1,082,135
Beaumont Unified School District Community Facilities District No. 2020-1 (Improvement area No. 2); Series 2023, RB	5.00%	09/01/2053		875		872,477
Beverly Hills Unified School District (Election of 2008);
Series 2009, GO Bonds(d)	0.00%	08/01/2026		1,465		1,355,096
Series 2009, GO Bonds(d)	0.00%	08/01/2032		3,045		2,330,696
Blythe (City of), CA Community Facilities District No. 2004-1; Series 2005, RB	5.30%	09/01/2035		500		501,827
Blythe (City of), CA Redevelopment Agency Successor Agency (Project No. 1);
Series 2011 A, RB	9.75%	05/01/2038		1,905		1,912,547
Series 2015, Ref. RB	5.00%	05/01/2038		1,000		1,013,681
Calexico (City of), CA Community Facilities District No. 2005-1;
Series 2006, RB(e)	5.50%	09/01/2036		2,500		875,000
Series 2006, RB(e)	5.55%	09/01/2036		2,325		813,750
California (State of);
Series 2000, GO Bonds	5.75%	05/01/2030		5		5,009
Series 2022 CU, GO Bonds	4.85%	12/01/2046		1,700		1,733,320
Series 2022, GO Bonds	5.00%	09/01/2052		5,000		5,451,879
Series 2022, RB(f)	5.00%	11/01/2042		11,370		12,774,660
Series 2022, RB(f)	5.00%	09/01/2052		10,000		10,903,757
Series 2023, GO Bonds	5.25%	10/01/2045		5,000		5,676,525
Series 2023, GO Bonds(f)	5.25%	09/01/2053		15,000		16,836,378
California (State of) Community Choice Financing Authority; Series 2023, RB(c)	5.25%	04/01/2030		6,000		6,147,600
California (State of) Community Choice Financing Authority (Green Bonds);
Series 2023 C, RB(c)	5.25%	10/01/2031		5,000		5,155,433
Series 2023 D, RB(c)	5.50%	11/01/2028		8,000		8,458,757
Series 2023, RB(c)	5.00%	08/01/2029		3,600		3,736,481
Series 2023, RB(c)	5.00%	03/01/2031		12,250		12,823,844
California (State of) Community College Financing Authority (NCCD - Orange Coast Properties LLC - Orange Coast College);
Series 2018, RB	5.25%	05/01/2048		665		669,122
Series 2018, RB	5.25%	05/01/2053		2,500		2,507,670
California (State of) Community Housing Agency (Annadel Apartments); Series 2019 A, RB(g)	5.00%	04/01/2049		4,555		3,575,111
California (State of) Community Housing Agency (Serenity at Larkspur); Series 2020 A, RB(g)	5.00%	02/01/2050		4,500		3,520,126
California (State of) Community Housing Agency (Stonridge Apartments); Series 2021 A, RB(g)	4.00%	02/01/2056		3,000		2,165,817

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

                             Invesco California Municipal Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
California–(continued)
California (State of) Community Housing Agency (Verdant at Green Valley); Series 2019 A, RB(g)	5.00%	08/01/2049	$	5,360	$	4,871,590
California (State of) County Tobacco Securitization Agency;
Series 2007 B, RB	5.10%	06/01/2028		80		79,588
Series 2007 D, RB(d)(g)	0.00%	06/01/2057		45,600		3,296,210
Series 2007 E, RB(d)(g)	0.00%	06/01/2057		51,500		3,169,655
Series 2007 F, RB(d)(g)	0.00%	06/01/2057		55,250		3,279,259
Series 2014, Ref. RB	4.00%	06/01/2029		465		465,412
Series 2020 A, Ref. RB	4.00%	06/01/2037		550		546,097
Series 2020 A, Ref. RB	4.00%	06/01/2039		1,200		1,163,574
California (State of) County Tobacco Securitization Agency (Alameda County Tobacco Asset Securitization Corp.);
Series 2002, RB	5.88%	06/01/2035		2,740		2,781,871
Series 2002, RB	6.00%	06/01/2042		18,700		18,986,058
Series 2006 C, RB(d)	0.00%	06/01/2055		332,360		30,317,181
California (State of) County Tobacco Securitization Agency (Fresno County Tobacco Funding Corp.);
Series 2002, RB	6.00%	06/01/2035		4,500		4,503,279
Series 2002, RB	6.13%	06/01/2038		9,700		9,706,168
Series 2006 A, RB(d)	0.00%	06/01/2046		62,110		14,738,920
Series 2006 C, RB(d)	0.00%	06/01/2055		71,700		7,406,875
Series 2006 D, RB(d)	0.00%	06/01/2055		309,500		28,972,790
California (State of) County Tobacco Securitization Agency (Los Angeles County Securitization Corp.);
Series 2020 A, Ref. RB	4.00%	06/01/2049		2,000		1,801,509
Series 2020 A, Ref. RB	4.00%	06/01/2049		710		632,733
Series 2020 B-1, Ref. RB	5.00%	06/01/2049		610		618,771
Series 2020 B-2, Ref. RB(d)	0.00%	06/01/2055		22,000		3,623,530
California (State of) County Tobacco Securitization Agency (Merced County Tobacco Funding Corp.); Series 2020, Ref. RB	5.00%	06/01/2050		3,510		3,439,301
California (State of) County Tobacco Securitization Agency (Sonoma County Securitization Corp.);
Series 2020, Ref. RB	4.00%	06/01/2049		1,380		1,243,041
Series 2020, Ref. RB(d)	0.00%	06/01/2055		7,050		1,304,515
California (State of) County Tobacco Securitization Agency (Stanislaus County Tobacco Funding Corp.); Series 2002 A, RB	5.88%	06/01/2043		1,040		1,040,097
California (State of) Educational Facilities Authority (Loma Linda University);
Series 2017 A, Ref. RB	5.00%	04/01/2042		1,715		1,754,829
Series 2017 A, Ref. RB	5.00%	04/01/2047		1,000		1,017,618
California (State of) Educational Facilities Authority (Saint Mary’s College of California);
Series 2023, Ref. RB	5.50%	10/01/2053		9,705		9,987,517
California (State of) Educational Facilities Authority (University of Redlands); Series 2022 A, RB	5.00%	10/01/2052		3,600		3,634,101
California (State of) Educational Facilities Authority (University of San Francisco); Series 2018 A, RB	5.00%	10/01/2043		2,730		2,828,550
California (State of) Enterprise Development Authority (Heights Christian Schools); Series 2023 A, RB(g)	6.25%	06/01/2053		2,625		2,539,310
California (State of) Health Facilities Financing Authority (Cedars-Sinai Medical Center);
Series 2015, Ref. RB	5.00%	11/15/2031		1,300		1,353,049
Series 2015, Ref. RB	5.00%	11/15/2032		1,250		1,299,952
Series 2015, Ref. RB	5.00%	11/15/2033		1,000		1,039,227
Series 2021 A, Ref. RB	4.00%	08/15/2048		24,375		23,917,879
California (State of) Health Facilities Financing Authority (Children’s Hospital Los Angeles);
Series 2017 A, Ref. RB	5.00%	08/15/2047		1,715		1,732,020
California (State of) Health Facilities Financing Authority (Commonspirit Health); Series 2020 A, Ref. RB	4.00%	04/01/2049		12,060		11,331,741
California (State of) Health Facilities Financing Authority (Community Program for Persons with
Developmental Disabilities); Series 2011 A, RB (INS - Cal-Mortgage)(a)	6.25%	02/01/2026		1,105		1,107,845
California (State of) Health Facilities Financing Authority (El Camino Hospital); Series 2015 A, Ref. RB	5.00%	02/01/2040		2,130		2,142,134
California (State of) Health Facilities Financing Authority (Kaiser Permanente); Subseries 2017 A-2, RB	5.00%	11/01/2047		10,000		11,342,484
California (State of) Health Facilities Financing Authority (Lucile Salter Packard Children’s Hospital at Stanford); Series 2017, RB	4.00%	11/15/2047		560		520,687

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

                             Invesco California Municipal Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
California–(continued)
California (State of) Health Facilities Financing Authority (On Lok Senior Health Services) (Social Bonds);
Series 2020, Ref. RB	5.00%	08/01/2040		$ 700	$	722,146
Series 2020, Ref. RB	5.00%	08/01/2050		1,000		1,007,933
California (State of) Health Facilities Financing Authority (Providence Health & Services);
Series 2014 B, RB	5.00%	10/01/2044		7,625		7,660,025
California (State of) Health Facilities Financing Authority (Stanford Health Care); Series 2020 A, Ref. RB	4.00%	08/15/2050		15,000		14,820,181
California (State of) Health Facilities Financing Authority (Sutter Health); Series 2016 B, Ref. RB	5.00%	11/15/2046		21,350		21,751,425
California (State of) Housing Finance Agency;
Series 2019 A, RB	4.25%	01/15/2035		6,259		6,162,872
Series 2019 A-2, RB	4.00%	03/20/2033		8,386		8,341,289
Series 2021-1A, Revenue Ctfs.	3.50%	11/20/2035		3,874		3,603,197
California (State of) Housing Finance Agency (Social Certificates); Series 2021 A, RB	3.25%	08/20/2036		9,693		8,903,314
California (State of) Infrastructure & Economic Development Bank (Academy Motion Picture Arts & Sciences Obligated Group);
Series 2015 A, Ref. RB(b)(c)	5.00%	12/06/2023		6,265		6,265,625
Series 2015, Ref. RB(b)(c)	5.00%	12/06/2023		1,000		1,000,100
California (State of) Infrastructure & Economic Development Bank (WFCS Portfolio Program);
Series 2021 A-1, RB(g)	5.00%	01/01/2056		2,450		1,869,575
California (State of) Municipal Finance Authority;
Series 2021 B, RB	4.00%	09/01/2041		915		833,187
Series 2021 B, RB	4.00%	09/01/2046		830		724,641
Series 2021 B, RB	4.00%	09/01/2051		775		652,033
California (State of) Municipal Finance Authority (American Heritage Education Foundation);
Series 2016 A, Ref. RB	5.00%	06/01/2046		2,515		2,431,116
California (State of) Municipal Finance Authority (Bella Mente Montessori Academy);
Series 2018 A, RB(g)	5.00%	06/01/2038		280		263,738
Series 2018 A, RB(g)	5.00%	06/01/2048		3,225		2,840,092
California (State of) Municipal Finance Authority (Bold Program);
Series 2020 B, RB	4.00%	09/01/2043		755		634,467
Series 2020 B, RB	4.00%	09/01/2050		1,095		880,913
Series 2021 A, RB	4.00%	09/01/2041		655		597,169
Series 2021 A, RB	4.00%	09/01/2051		1,500		1,250,286
Series 2022 B, Ref. RB	6.00%	09/01/2052		2,160		2,189,697
Series 2022 B, Ref. RB	6.30%	09/01/2052		870		896,654
Series 2022 C, RB	6.25%	09/01/2052		1,895		1,897,838
Series 2023 B, RB	5.75%	09/01/2053		1,350		1,395,817
California (State of) Municipal Finance Authority (California Baptist University); Series 2016 A, RB(g)	5.00%	11/01/2046		1,000		927,904
California (State of) Municipal Finance Authority (Caritas Affordable Housing, Inc.);
Series 2014 A, RB	5.25%	08/15/2039		2,665		2,683,926
Series 2014 A, RB	5.25%	08/15/2049		1,420		1,425,836
Series 2014 B, RB	5.88%	08/15/2049		705		705,715
California (State of) Municipal Finance Authority (Caritas);
Series 2017 A, Ref. RB	4.00%	08/15/2037		1,055		1,043,838
Series 2021 B, Ref. RB	4.00%	08/15/2041		295		267,678
Series 2021 B, Ref. RB	4.00%	08/15/2051		435		363,764
Series 2023, RB	5.25%	08/15/2058		1,100		1,146,680
California (State of) Municipal Finance Authority (CHF-Davis I, LLC - West Village Student Housing);
Series 2018, RB	5.00%	05/15/2043		5,900		5,966,785
California (State of) Municipal Finance Authority (CHF-Riverside I, LLC - UCR Dundee-Glasgow Student Housing); Series 2018, RB	5.00%	05/15/2043		3,000		3,033,959
California (State of) Municipal Finance Authority (CHF-Riverside II, LLC - UCR North District Phase I
Student Housing); Series 2019, RB (INS - BAM)(a)	5.00%	05/15/2049		2,660		2,717,026

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

                             Invesco California Municipal Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
California–(continued)
California (State of) Municipal Finance Authority (Community Medical Centers);
Series 2017 A, Ref. RB	5.00%	02/01/2034	$	3,750	$	3,869,462
Series 2017 A, Ref. RB	5.00%	02/01/2035		4,000		4,108,213
Series 2017 A, Ref. RB	5.00%	02/01/2036		2,000		2,042,466
Series 2017 A, Ref. RB	5.00%	02/01/2037		1,000		1,017,047
Series 2017 A, Ref. RB	5.00%	02/01/2047		2,005		2,024,143
California (State of) Municipal Finance Authority (Eisenhower Medical Centers); Series 2017 A, Ref. RB	5.00%	07/01/2047		1,000		1,001,504
California (State of) Municipal Finance Authority (Goodwill Industries of Sacramento & Nevada);
Series 2012, RB(g)	6.63%	01/01/2032		930		902,863
Series 2012, RB(g)	6.88%	01/01/2042		2,080		1,944,983
California (State of) Municipal Finance Authority (Green Bonds); Series 2021, RB (INS - BAM)(a)	4.00%	05/15/2046		2,000		1,803,348
California (State of) Municipal Finance Authority (Greenfield Commons I) (Sustainable Bonds));
Series 2023, RB (CEP - FNMA)	5.28%	09/01/2046		2,950		3,171,071
California (State of) Municipal Finance Authority (Humangood - California Obligated Group);
Series 2019 A, Ref. RB	5.00%	10/01/2044		1,695		1,718,677
Series 2021, RB	4.00%	10/01/2046		1,080		967,197
Series 2021, RB	4.00%	10/01/2049		4,500		3,961,865
California (State of) Municipal Finance Authority (Linxs APM);
Series 2018 A, RB(h)	5.00%	12/31/2043		10,005		10,100,197
Series 2018 A, RB(h)	5.00%	12/31/2047		18,610		18,743,521
California (State of) Municipal Finance Authority (Mt. San Antonio Gardens); Series 2019, Ref. RB	5.00%	11/15/2049		2,825		2,509,815
California (State of) Municipal Finance Authority (Open Door Community Health Centers);
Series 2021, RB (INS - Cal-Mortgage)(a)	4.00%	09/15/2051		3,385		3,296,872
California (State of) Municipal Finance Authority (Palmdale Aerospace Academy (The));
Series 2018 A, RB(g)	5.00%	07/01/2049		600		539,333
California (State of) Municipal Finance Authority (Palomar Health); Series 2022 A, Ref. COP (INS - AGM)(a)	5.25%	11/01/2052		5,400		5,915,999
California (State of) Municipal Finance Authority (Samuel Merritt University); Series 2022, RB	5.25%	06/01/2053		11,500		12,203,394
California (State of) Municipal Finance Authority (Santa Rosa Academy); Series 2022, Ref. RB	5.00%	07/01/2052		3,280		3,000,942
California (State of) Municipal Finance Authority (Social Bonds);
Series 2019 A, Ref. RB(g)	5.00%	11/01/2029		990		1,011,966
Series 2019 A, Ref. RB(g)	5.00%	11/01/2039		1,475		1,442,298
Series 2019 A, Ref. RB(g)	5.00%	11/01/2049		2,700		2,427,572
California (State of) Municipal Finance Authority (Touro College and University System);
Series 2014 A, RB(b)(c)	5.25%	07/01/2024		620		627,891
California (State of) Municipal Finance Authority (UCR North District Phase 1 Student Housing);
Series 2019, RB (INS - BAM)(a)	5.00%	05/15/2052		5,875		5,988,032
California (State of) Municipal Finance Authority (United Airlines, Inc.); Series 2019, RB(h)	4.00%	07/15/2029		16,780		16,248,136
California (State of) Municipal Finance Authority (University of La Verne); Series 2017 A, Ref. RB	5.00%	06/01/2043		600		616,122
California (State of) Municipal Finance Authority (William Jessup University); Series 2019, Ref. RB(g)	5.00%	08/01/2039		1,500		1,371,730
California (State of) Pollution Control Financing Authority;
Series 2012, RB(g)(h)	5.00%	07/01/2037		3,000		3,000,609
Series 2012, RB(g)(h)	5.00%	11/21/2045		1,000		993,389
California (State of) Pollution Control Financing Authority (Aemerge Redpak Services Southern California LLC);
Series 2016, RB (Acquired 01/21/2016; Cost $3,500,000)(g)(h)(i)(j)	7.00%	12/01/2027		3,500		350,000
Series 2017, RB(g)(h)(i)	8.00%	12/01/2027		2,000		120,000
California (State of) Pollution Control Financing Authority (CalPlant I) (Green Bonds);
Series 2017, RB(g)(h)(i)	7.50%	07/01/2032		1,425		71,250
Series 2017, RB(g)(h)(i)	8.00%	07/01/2039		1,900		95,000
Series 2020, RB(g)(h)(i)	7.50%	07/01/2032		395		19,750
California (State of) Pollution Control Financing Authority (Poseidon Resources L.P.); Series 2023, RB(g)(h)	5.00%	11/21/2045		1,000		1,015,172
California (State of) Pollution Control Financing Authority (San Diego County Water Authority);
Series 2019, Ref. RB(g)	5.00%	11/21/2045		3,500		3,531,067
California (State of) Pollution Control Financing Authority (Waste Management, Inc.); Series 2015 B-1, Ref. RB(h)	3.00%	11/01/2025		1,500		1,461,390
California (State of) Public Finance Authority (California Crosspoint Academy); Series 2020 A, RB(g)	5.13%	07/01/2055		5,000		4,071,038
California (State of) Public Finance Authority (Crossroads Christian Schools); Series 2020, RB(g)	5.00%	01/01/2056		1,000		794,363

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

                             Invesco California Municipal Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
California–(continued)
California (State of) Public Finance Authority (Enso Village) (Green Bonds);
Series 2021 B-3, RB(g)	2.13%	11/15/2027		$  2,000	$	1,906,531
Series 2021, RB(g)	2.38%	11/15/2028		2,000		1,885,510
Series 2021, RB(g)	5.00%	11/15/2046		1,000		878,480
Series 2021, RB(g)	5.00%	11/15/2051		500		430,210
Series 2021, RB(g)	5.00%	11/15/2056		1,000		842,071
California (State of) Public Finance Authority (Henry Mayo Newhall Hospital);
Series 2017, Ref. RB	5.00%	10/15/2037		1,000		1,019,548
Series 2017, Ref. RB	5.00%	10/15/2047		1,000		1,003,314
California (State of) Public Finance Authority (Kendal at Ventura); Series 2023 A-C, RB(g)	10.00%	05/15/2028		2,900		3,045,548
California (State of) Public Finance Authority (LaVerne Elementary Preparatory Academy);
Series 2019 A, RB(g)	5.00%	06/15/2049		1,400		1,228,132
California (State of) Public Finance Authority (Trinity Classical Academy);
Series 2019 A, RB(g)	5.00%	07/01/2036		400		385,161
Series 2019 A, RB(g)	5.00%	07/01/2044		630		554,729
Series 2019 A, RB(g)	5.00%	07/01/2054		1,600		1,332,437
California (State of) Public Works Board (Various Capital); Series 2021 B, RB	4.00%	05/01/2046		19,640		19,646,308
California (State of) Public Works Board (Various Correctional Facilities); Series 2014 A, RB	5.00%	09/01/2039		3,000		3,019,805
California (State of) School Finance Authority (Alliance for College-Ready Public Schools);
Series 2013 A, RB	6.30%	07/01/2043		840		840,639
Series 2015, RB(g)	5.00%	07/01/2045		1,265		1,262,710
California (State of) School Finance Authority (Aspen Public Sschools Obligated Group);
Series 2022 A, RB(g)	6.13%	07/01/2052		3,745		3,673,005
Series 2022 A, RB(g)	6.25%	07/01/2062		4,655		4,548,703
California (State of) School Finance Authority (Aspire Public School);
Series 2015 A, Ref. RB(g)	5.00%	08/01/2045		1,000		1,001,769
Series 2016, Ref. RB(b)(c)(g)	5.00%	08/01/2025		65		67,134
Series 2016, Ref. RB(g)	5.00%	08/01/2041		2,425		2,436,286
Series 2016, Ref. RB(g)	5.00%	08/01/2046		685		685,769
California (State of) School Finance Authority (Camino Nuevo Charter Academy Obligated Group) (Sustainability Bonds); Series 2023, Ref. RB(g)	5.25%	06/01/2053		1,550		1,498,526
California (State of) School Finance Authority (Escuela Popular); Series 2017, RB(g)	6.25%	07/01/2037		1,250		1,266,226
California (State of) School Finance Authority (Granada Hills Charter Obligated Group);
Series 2019, RB(g)	5.00%	07/01/2043		2,000		2,000,636
California (State of) School Finance Authority (Green Dot Public Schools);
Series 2015 A, RB(g)	5.00%	08/01/2045		1,500		1,500,529
Series 2018 A, RB(g)	5.00%	08/01/2038		1,000		1,015,974
California (State of) School Finance Authority (Grimmway Schools Obligated Group); Series 2016 A, RB(g)	4.25%	07/01/2028		1,000		986,122
California (State of) School Finance Authority (Hawking Steam Charter School);
Series 2022, RB(g)	5.38%	07/01/2056		995		982,143
Series 2022, RB(g)	5.50%	07/01/2062		1,000		996,772
California (State of) School Finance Authority (KIPP LA);
Series 2015 A, RB(g)	5.00%	07/01/2045		500		501,379
Series 2017 A, RB(g)	5.00%	07/01/2037		590		603,666
Series 2017 A, RB(g)	5.00%	07/01/2047		1,240		1,244,685
California (State of) School Finance Authority (KIPP SoCal Public Schools); Series 2019 A, RB(g)	5.00%	07/01/2049		1,700		1,705,381
California (State of) School Finance Authority (New Designs Charter School); Series 2012 A, RB	5.25%	06/01/2032		1,440		1,440,589
California (State of) School Finance Authority (Orange County Educational Arts Academy);
Series 2023, Ref. RB (CEP - Colorado Higher Education Intercept Program)(g)	5.88%	06/01/2053		700		689,393
California (State of) School Finance Authority (Partnership to Uplift Communities) (Social Bonds);
Series 2023, Ref. RB(g)	5.50%	08/01/2043		550		551,181
Series 2023, Ref. RB(g)	5.50%	08/01/2047		525		517,443
California (State of) School Finance Authority (Sonoma County Junior College); Series 2021, RB(g)	4.00%	11/01/2051		2,700		2,128,739
California (State of) School Finance Authority (Stem Preparatory Schools - Obligated Group);
Series 2023 A, RB(g)	5.13%	06/01/2053		500		479,948
Series 2023 A, RB(g)	5.38%	05/01/2063		1,000		970,774
California (State of) School Finance Authority (Value Schools);
Series 2016 A, RB(g)	5.25%	07/01/2031		625		641,212
Series 2023 A, Ref. RB (CEP - Colorado Higher Education Intercept Program)(g)	5.25%	07/01/2048		700		694,315

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

                             Invesco California Municipal Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
California–(continued)
California (State of) Statewide Communities Development Authority;
Series 2017, RB	5.00%	09/02/2037	$	1,135	$	1,172,508
Series 2017, RB	5.00%	09/02/2046		1,265		1,283,678
Series 2020 B, RB	4.00%	09/02/2050		445		370,021
Series 2020, RB	4.00%	09/01/2040		400		364,527
Series 2020, RB	4.00%	09/01/2050		2,340		1,952,077
Series 2021 A, RB	4.00%	09/02/2051		1,990		1,581,594
California (State of) Statewide Communities Development Authority (899 Charleston Project); Series 2014 A, Ref. RB(g)	5.25%	11/01/2044		1,500		1,187,583
California (State of) Statewide Communities Development Authority (Adventist Health System);
Series 2015, Ref. RB	5.00%	03/01/2033		775		795,807
Series 2015, Ref. RB	5.00%	03/01/2045		2,315		2,333,594
Series 2018 A, Ref. RB	5.00%	03/01/2042		1,185		1,206,585
Series 2018 A, Ref. RB	5.00%	03/01/2048		1,860		1,881,160
California (State of) Statewide Communities Development Authority (Alliance for College-Ready Public Schools - 47th and Main);
Series 2012 A, RB	6.38%	07/01/2047		2,000		2,001,910
Series 2012, RB	6.10%	07/01/2032		760		761,123
California (State of) Statewide Communities Development Authority (Buck Institute for Research on Aging); Series 2021, Ref. RB	4.00%	04/01/2046		4,230		3,799,030
California (State of) Statewide Communities Development Authority (California Baptist University); Series 2017 A, Ref. RB(g)	5.00%	11/01/2041		875		838,008
California (State of) Statewide Communities Development Authority (Community Facilities District No. 2007-01); Series 2015, Ref. RB	5.00%	09/01/2037		1,615		1,639,158
California (State of) Statewide Communities Development Authority (Community Facilities District No. 2015-1);
Series 2020, RB	4.00%	09/01/2050		1,500		1,270,605
Series 2020, RB	4.00%	09/01/2050		1,415		1,180,423
California (State of) Statewide Communities Development Authority (Community Facilities District No. 2016-02); Series 2020, RB	4.00%	09/01/2050		2,465		2,091,232
California (State of) Statewide Communities Development Authority (Community Facilities District No. 2018-02); Series 2020, RB(g)	7.25%	09/01/2050		4,255		4,062,623
California (State of) Statewide Communities Development Authority (Community Facilities District No. 2020-02); Series 2022, RB	5.25%	09/01/2052		1,650		1,663,008
California (State of) Statewide Communities Development Authority (Delta Coves); Series 2022, RB	5.50%	09/01/2052		3,070		3,083,302
California (State of) Statewide Communities Development Authority (Enloe Medical Center);
Series 2022 A, RB (INS - AGM)(a)	5.25%	08/15/2052		2,000		2,159,764
Series 2022 A, RB (INS - AGM)(a)	5.38%	08/15/2057		2,320		2,522,339
California (State of) Statewide Communities Development Authority (Front Porch Communities & Services);
Series 2017 A, Ref. RB	5.00%	04/01/2047		3,390		3,435,076
Series 2021, Ref. RB	4.00%	04/01/2051		1,600		1,397,094
California (State of) Statewide Communities Development Authority (Henry Mayo Newhall Memorial Hospital); Series 2014 A, RB(b)(c)	5.25%	10/01/2024		600		611,782
California (State of) Statewide Communities Development Authority (Heritage Park at Cathedral City Apartments); Series 2002 NN-1, RB (INS - AMBAC)(a)(h)	5.20%	06/01/2036		2,225		2,227,307
California (State of) Statewide Communities Development Authority (Huntington Memorial Hospital); Series 2014 B, Ref. RB(b)(c)	5.00%	07/01/2024		750		758,270
California (State of) Statewide Communities Development Authority (Improvement Area No. 1); Series 2021, RB	4.00%	09/01/2041		690		644,019
California (State of) Statewide Communities Development Authority (Jewish Home of San Francisco); Series 2016, RB (INS - Cal-Mortgage)(a)	4.00%	11/01/2046		7,825		7,837,130
California (State of) Statewide Communities Development Authority (John Muir Health);
Series 2016 A, Ref. RB	5.00%	08/15/2051		3,000		3,053,713
Series 2018 A, Ref. RB	5.00%	12/01/2057		4,635		4,737,772
California (State of) Statewide Communities Development Authority (Lancer Educational Student Housing);
Series 2016, Ref. RB(g)	5.00%	06/01/2046		1,000		920,193
Series 2019, RB(g)	5.00%	06/01/2034		375		377,502
Series 2019, RB(g)	5.00%	06/01/2039		100		96,856
Series 2019, RB(g)	5.00%	06/01/2051		295		265,367

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

                             Invesco California Municipal Fund

	Interest Rate		Maturity   Date		Principal   Amount (000)		Value
California–(continued)
California (State of) Statewide Communities Development Authority (Loma Linda University Medical Center); Series 2016 A, RB(g)		5.25%		12/01/2056	$	7,330	$	7,117,520
California (State of) Statewide Communities Development Authority (McSweeny);
Series 2023, RB		5.00%		09/01/2048		1,350		1,305,396
Series 2023, RB		5.25%		09/01/2053		2,225		2,198,966
California (State of) Statewide Communities Development Authority (Methodist Hospital of Southern California);
Series 2018, RB		5.00%		01/01/2043		1,000		1,017,087
Series 2018, RB		5.00%		01/01/2048		1,995		2,011,060
California (State of) Statewide Communities Development Authority (NCCD-Hooper Street LLC-California College of the Arts);
Series 2019, RB(g)		5.25%		07/01/2039		1,640		1,644,641
Series 2019, RB(g)		5.25%		07/01/2049		3,375		3,268,737
California (State of) Statewide Communities Development Authority (Odd Fellows Home of California); Series 2023, Ref. RB (INS - Cal-Mortgage)(a)		4.13%		04/01/2053		1,000		999,116
California (State of) Statewide Communities Development Authority (Sand Creek); Series 2021, RB		4.00%		09/01/2041		550		515,262
California (State of) Statewide Communities Development Authority (Statewide Community Infrastructure Program);
Series 2019 C, RB		5.00%		09/02/2049		700		705,382
Series 2021 C-1, RB		4.00%		09/02/2041		2,185		1,901,558
Series 2021 C-1, RB		4.00%		09/02/2051		2,505		2,009,174
Series 2022, RB		5.38%		09/02/2052		1,000		1,001,243
Series 2023, RB		5.25%		09/02/2043		1,125		1,130,440
Series 2023, RB		5.25%		09/01/2051		2,400		2,381,986
Series 2023, RB		5.50%		09/02/2053		1,875		1,883,494
California (State of) Statewide Communities Development Authority (University of California - Irvine East Campus Apartments - CHF-Irvine, LLC); Series 2016, Ref. RB		5.00%		05/15/2040		1,200		1,205,721
California (State of) Statewide Communities Development Authority (Yucaipa Valley Water Reservoir); Series 2014, RB		6.00%		09/02/2044		2,635		2,646,585
California (State of) Statewide Financing Authority (Pooled Tobacco Securitization Program);
Series 2002 A, RB		6.00%		05/01/2037		5,585		5,675,001
Series 2002 B, RB		6.00%		05/01/2037		675		685,877
Series 2002 B, RB		6.00%		05/01/2043		705		716,385
Series 2002, RB		6.00%		05/01/2043		45		45,727
Series 2006 A, RB(d)		0.00%		06/01/2046		8,000		1,960,942
Calimesa (City of), CA Community Facilities District No. 2018-1 (Summerwind Trails);
Series 2020, RB		4.00%		09/01/2045		605		539,067
Series 2020, RB		4.00%		09/01/2050		575		492,332
Cambrian School District; Series 2022, GO Bonds		5.00%		08/01/2048		7,505		7,954,351
Carlsbad (City of), CA (Assessment District No. 96-1); Series 1998, RB		5.50%		09/02/2028		5		5,026
Carson (City of), CA Public Financing Authority; Series 2019, RB		5.00%		09/02/2030		545		584,109
Chino (City of), CA Community Facilities District;
Series 2020, RB		4.00%		09/01/2040		170		156,214
Series 2020, RB		4.00%		09/01/2051		705		599,656
Chino (City of), CA Public Financing Authority;
Series 2015 A, Ref. RB (INS - AGM)(a)		5.00%		09/01/2034		1,100		1,132,193
Series 2015 A, Ref. RB (INS - AGM)(a)		5.00%		09/01/2035		865		890,856
Chino Valley Unified School District; Series 2020 B, GO Bonds		5.00%		08/01/2055		10,995		11,725,382
Chula Vista (City of), CA Community Facilities District No. 16-1 (Improvement Area No. 2); Series 2021, RB		4.00%		09/01/2051		1,775		1,585,578
Clovis (City of), CA;
Series 2015, Ref. RB (INS - AGM)(a)		5.25%		08/01/2030		1,060		1,103,117
Series 2015, Ref. RB (INS - AGM)(a)		5.25%		08/01/2031		500		520,273
Clovis (City of), CA Public Financing Authority; Series 2008 A, RB (INS -NATL)(a)		4.63%		08/01/2029		35		35,046
Clovis Unified School District (Election of 2004); Series 2004 A, GO Bonds (INS - NATL)(a)(d)		0.00%		08/01/2029		735		612,135
Coachella (City of), CA (Community Facilities District No. 2018-1);
Series 2018, RB(g)		5.00%		09/01/2030		440		462,048
Series 2018, RB(g)		5.00%		09/01/2038		1,090		1,124,518
Series 2018, RB(g)		5.00%		09/01/2048		2,015		2,039,495
Series 2018, RB(g)		5.00%		09/01/2053		1,525		1,533,301

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

                             Invesco California Municipal Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
California–(continued)
Compton (City of), CA Public Finance Authority (Various Capital); Series 2008, Ref. RB (INS - AMBAC)(a)	5.25%	09/01/2027	$	820	$	820,310
Compton Unified School District;
Series 2019 B, GO Bonds (INS - BAM)(a)(d)	0.00%	06/01/2035		1,300		822,467
Series 2019 B, GO Bonds (INS - BAM)(a)(d)	0.00%	06/01/2041		6,250		2,773,734
Series 2019 B, GO Bonds (INS - BAM)(a)(d)	0.00%	06/01/2042		4,335		1,821,849
Corona Community Facilities District (Bedford Improvement Area No. 1);
Series 2020, RB	4.00%	09/01/2040		285		262,823
Series 2020, RB	4.00%	09/01/2045		460		408,162
Series 2020, RB	4.00%	09/01/2050		1,035		886,198
Corona-Norco Unified School District (Community Facilities District No. 17-1); Series 2020, RB	4.00%	09/01/2050		350		291,516
CSCDA Community Improvement Authority (Oceanaire-Long Beach Social Bonds); Series 2021 A-2, RB(g)	4.00%	09/01/2056		2,500		1,739,308
CSCDA Community Improvement Authority (Parallel-Anaheim Social Bonds); Series 2021, RB(g)	4.00%	08/01/2056		1,000		728,385
CSCDA Community Improvement Authority (Renaissance at City Center); Series 2020 A, RB(g)	5.00%	07/01/2051		3,250		2,933,171
Daly (City of), CA Housing Development Finance Agency (Franciscan Mobile Home Park Acquisition);
Series 2007 A, Ref. RB	5.00%	12/15/2037		50		50,039
Series 2007 C, Ref. RB	6.50%	12/15/2047		850		820,966
Dixon (City of), CA Improvement Area No. 1 (Community Facilities District No. 2019-1);
Series 2020, RB	4.00%	09/01/2036		200		194,159
Series 2020, RB	4.00%	09/01/2040		400		368,437
Series 2020, RB	4.00%	09/01/2050		1,000		834,221
Series 2023, RB	5.00%	09/01/2048		1,675		1,597,339
Series 2023, RB	5.00%	09/01/2053		2,600		2,443,651
Downey Unified School District; Series 2023 A, GO Bonds	4.00%	08/01/2048		6,055		6,007,477
Dublin (City of), CA Community Facilities District No. 2015-1 (Improvement Area No. 3);
Series 2021, RB	4.00%	09/01/2045		850		744,856
Series 2021, RB	4.00%	09/01/2051		865		726,621
Eastern Municipal Water District;
Series 2023, RB	5.25%	09/01/2048		1,100		1,115,050
Series 2023, RB	5.25%	09/01/2053		1,385		1,397,687
Eastern Municipal Water District (Community Facilities District No. 2016-75);
Series 2021, RB	4.00%	09/01/2030		75		74,718
Series 2021, RB	4.00%	09/01/2050		385		324,130
El Centro (City of), CA Financing Authority (Police Station); Series 2023 A, RB	4.25%	10/01/2047		2,000		1,998,067
El Dorado Irrigation District; Series 2020 A, COP	4.00%	03/01/2050		15,330		15,066,787
El Segundo Unified School District (Election of 2008); Series 2009 A, GO Bonds(d)	0.00%	08/01/2033		4,430		3,168,337
Elsinore Valley Municipal Water District; Series 2021 A, RB(g)	4.50%	09/01/2051		2,680		2,269,976
Emeryville (City of), CA Public Financing Authority (Alameda County);
Series 2014 A, Ref. RB (INS - AGM)(a)	5.00%	09/01/2032		445		451,140
Series 2014 A, Ref. RB (INS - AGM)(a)	5.00%	09/01/2033		385		390,371
Series 2014 A, Ref. RB (INS - AGM)(a)	5.00%	09/01/2034		500		507,276
Etiwanda School District Community Facilities District No. 2018-1 (Day Creek Square Public Facilities);
Series 2020, RB	4.00%	09/01/2045		510		431,454
Series 2020, RB	4.00%	09/01/2050		705		577,534
Fairfield (City of), CA Community Facilities District No. 2007-1 (Fairfield Commons); Series 2008, RB	6.88%	09/01/2038		865		872,474
Fairfield (City of), CA Community Facilities District No. 2019-1 (One Lake); Series 2021 A, RB	4.00%	09/01/2051		5,290		4,450,653
Folsom Ranch Financing Authority Community Facilities District no. 23 (Improvement Area No. 1);
Series 2022, RB	5.00%	09/01/2042		3,290		3,335,860
Fontana (City of), CA (El Paseo Community Facilities District 87); Series 2021, RB	4.00%	09/01/2046		325		292,377
Fontana (City of), CA (The Meadows);
Series 2020, RB	4.00%	09/01/2045		530		476,207
Series 2020, RB	4.00%	09/01/2050		635		551,315
Foothill-Eastern Transportation Corridor Agency;
Series 2014 A, Ref. RB(k)	6.85%	01/15/2042		1,000		1,186,882
Series 2015, Ref. RB (INS - AGM)(a)(d)	0.00%	01/15/2035		2,745		1,794,902
Series 2021 A, Ref. RB	4.00%	01/15/2046		15,965		15,341,576
Fremont Community Facilities District No. 1 (Pacific Commons); Series 2015, Ref. RB	5.00%	09/01/2035		815		831,238

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

                             Invesco California Municipal Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
California–(continued)
Fresno (City of), CA; Series 2023 A, Ref. RB (INS - BAM)(a)(h)	5.00%	07/01/2053	$	3,320	$	3,411,886
Gilroy Unified School District (Election of 2008);
Series 2009 A, GO Bonds(b)(d)	0.00%	08/01/2029		615		523,159
Series 2009 A, GO Bonds (INS - AGC)(a)(d)	0.00%	08/01/2029		4,735		3,902,007
Series 2009 A, GO Bonds(b)(d)	0.00%	08/01/2031		2,235		1,789,106
Series 2009 A, GO Bonds (INS - AGC)(a)(d)	0.00%	08/01/2031		1,415		1,083,442
Glendora (City of), CA Public Finance Authority (No. 1); Series 2003 A, RB (INS - NATL)(a)	5.00%	09/01/2024		485		485,588
Golden State Tobacco Securitization Corp.; Series 2021 B-2, Ref. RB(d)	0.00%	06/01/2066		21,000		2,191,352
Golden Valley Unified School District Financing Authority;
Series 2021 A, RB	4.00%	09/01/2046		250		212,484
Series 2021 A, RB	4.00%	09/01/2051		500		409,106
Grossmont Healthcare District; Series 2015 D, Ref. GO Bonds	4.00%	07/15/2040		13,000		13,002,233
Hayward Unified School District (Election of 2018);
Series 2019 A, GO Bonds (INS - BAM)(a)	4.00%	08/01/2048		6,900		6,888,592
Series 2022, GO Bonds (INS - BAM)(a)	4.00%	08/01/2050		10,875		10,763,264
Hollister (City of), CA Redevelopment Agency Successor Agency (Hollister Community Development);
Series 2014, Ref. RB (INS - BAM)(a)	5.00%	10/01/2030		1,600		1,625,033
Series 2014, Ref. RB (INS - BAM)(a)	5.00%	10/01/2032		1,305		1,325,200
Hollister Joint Powers Financing Authority; Series 2016, Ref. RB (INS - AGM)(a)	5.00%	06/01/2036		1,270		1,321,191
Imperial (County of), CA (Community Facilities District No. 2004-2 - Improvement Area No. 1); Series 2007, RB	5.90%	09/01/2037		1,430		1,436,303
Imperial (County of), CA Community college District (Election of 2022); Series 2023 A, GO Bonds (INS - AGM)(a)	5.25%	08/01/2053		1,500		1,647,870
Independent Cities Finance Authority (Hacienda Valley Estates); Series 2014, Ref. RB	5.00%	11/15/2034		885		898,181
Independent Cities Finance Authority (Union City Tropics); Series 2019, Ref. RB	5.00%	05/15/2048		1,000		1,025,873
Inglewood Unified School District;
Series 2019 C, GO Bonds (INS - BAM)(a)	4.00%	08/01/2038		550		553,875
Series 2019 C, GO Bonds (INS - BAM)(a)	4.00%	08/01/2039		690		693,964
Series 2021 A, GO Bonds (INS - AGM)(a)	4.00%	08/01/2051		3,100		3,030,314
Inland Empire Tobacco Securitization Corp.;
Series 2007 C-1, RB(d)	0.00%	06/01/2036		8,000		3,544,255
Series 2007 C-2, RB(d)	0.00%	06/01/2047		14,000		2,943,433
Irvine (City of), CA Community Facilities District No. 2013-3 (Great Park Improvement Area No. 1);
Series 2014, RB	5.00%	09/01/2044		445		446,943
Series 2014, RB	5.00%	09/01/2049		445		446,531
Irvine (City of), CA Community Facilities District No. 2013-3 (Great Park Improvement Area No. 10); Series 2023, RB (INS - BAM)(a)	5.25%	09/01/2053		5,000		5,500,580
Irvine Facilities Financing Authority (Irvine Great Park Infrastructure); Series 2023 A, RB (INS - BAM)(a)	4.00%	09/01/2058		5,000		4,918,259
Irvine Ranch Water District; Series 2016, RB	5.25%	02/01/2046		4,305		4,468,875
Irvine Unified School District (Community Facilities District No. 01-1); Series 2015, Ref. RB (INS - BAM)(a)	5.00%	09/01/2038		3,500		3,566,415
Irvine Unified School District (Community Facilities District No. 09-1); Series 2019 A, RB (INS - BAM)(a)	4.00%	09/01/2044		3,000		3,011,209
Jurupa Community Services District; Series 2021 A, RB	4.00%	09/01/2045		710		613,639
Lake Elsinore (City of), CA;
Series 2021, RB	4.00%	09/01/2041		350		321,467
Series 2021, RB	4.00%	09/01/2046		450		399,648
Series 2021, RB	4.00%	09/01/2051		700		605,776
Lake Elsinore Unified School District Community Facilities District; Series 2021, RB	4.00%	09/01/2045		380		326,504
Lake Elsinore Unified School District Community Facilities District No. 2006-2 (Improvement Area No. C); Series 2020, RB	4.00%	09/01/2050		4,015		3,344,299
Lake Elsniore (City of), CA Community Facilities District No. 2006-1;
Series 2019, RB	5.00%	09/01/2050		1,000		1,008,464
Series 2021, RB	4.00%	09/01/2046		290		253,908
Series 2021, RB	4.00%	09/01/2051		310		263,267
Lake Elsniore (City of), CA Community Facilities District No. 2006-1 (Improvement Area II);
Series 2020, RB	4.00%	09/01/2040		760		695,890
Series 2020, RB	4.00%	09/01/2045		835		731,711

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

                             Invesco California Municipal Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
California–(continued)
Lammersville Joint Unified School District;
Series 2020, RB	4.00%	09/01/2039	$	250	$	242,413
Series 2020, RB	4.00%	09/01/2045		310		272,702
Series 2020, RB	4.00%	09/01/2049		730		624,411
Series 2022, RB	4.00%	09/01/2052		3,000		2,646,573
Lathrop (City of), CA (Community Facilities District No. 03-2); Series 2003, RB	7.00%	09/01/2033		2,960		2,967,293
Lennox School District; Series 2014, COP (INS - BAM)(a)	5.00%	10/01/2034		1,000		1,000,491
Lincoln (City of), CA Community Facilities District No. 2006-1 (Improvement Area No. 1); Series 2021, Ref. RB	4.00%	09/01/2043		320		297,015
Long Beach (City of), CA; Series 2017 A, RB(h)	5.00%	05/15/2040		16,080		16,672,058
Long Beach (City of), CA (Alamitos Bay Marina); Series 2015, RB	5.00%	05/15/2045		2,370		2,381,301
Long Beach (City of), CA (Green Bonds); Series 2017 B, RB(h)	5.00%	05/15/2043		8,210		8,487,327
Long Beach (City of), CA Bond Finance Authority;
Series 2007 A, RB	5.50%	11/15/2028		50		53,586
Series 2007 A, RB	5.50%	11/15/2032		2,665		2,926,323
Series 2007 A, RB	5.50%	11/15/2037		1,000		1,110,637
Los Alamitos Unified School District; Series 2013, GO Bonds(k)	6.01%	08/01/2040		1,660		1,680,209
Los Alamitos Unified School District (Capital); Series 2012, COP(k)	5.95%	08/01/2034		1,200		1,319,858
Los Angeles (City of), CA Community Facilities District No. 4 (Playa Vista - Phase 1); Series 2014, Ref. RB	5.00%	09/01/2031		590		596,356
Los Angeles (City of), CA Department of Airports;
Series 2015 A, RB(h)	5.00%	05/15/2034		45		45,220
Series 2018, RB(f)(h)	5.00%	05/15/2035		11,410		12,182,960
Series 2018, RB(f)(h)	5.00%	05/15/2036		10,640		11,297,732
Series 2019 A, Ref. RB(h)	5.00%	05/15/2049		16,710		17,065,888
Series 2021, Ref. RB(h)	5.00%	05/15/2035		3,500		3,813,198
Series 2022 A, RB(h)	5.00%	05/15/2045		12,875		13,513,448
Series 2022 A, RB(h)	4.00%	05/15/2049		6,400		5,923,805
Los Angeles (City of), CA Department of Airports (Los Angeles International Airport);
Series 2015 A, RB(h)	5.00%	05/15/2045		5,000		5,012,053
Series 2018 A, RB(h)	5.25%	05/15/2048		5,000		5,149,649
Series 2018, Ref. RB(h)	5.00%	05/15/2048		4,395		4,493,780
Series 2019, RB(h)	5.00%	05/15/2049		24,745		25,228,794
Series 2022, RB(h)	4.00%	05/15/2047		10,000		9,415,061
Los Angeles (City of), CA Department of Water & Power;
Series 2017 C, RB	5.00%	07/01/2042		5,525		5,770,488
Series 2017, RB(f)	5.00%	07/01/2047		21,000		21,710,451
Series 2020 B, Ref. RB	5.00%	07/01/2050		8,000		8,564,256
Series 2021 C, RB(f)	5.00%	07/01/2051		31,555		34,044,888
Series 2022 B, Ref. RB	5.00%	07/01/2052		6,500		7,058,677
Los Angeles (County of), CA Community Facilities District No. 2021-01 (Valencia Facilities); Series 2022, RB	5.00%	09/01/2052		2,000		2,008,885
Los Angeles (County of), CA Metropolitan Transportation Authority (Prop C); Series 2021 A, RB	5.00%	07/01/2042		6,055		6,653,552
Los Angeles (Port of), CA; Series 2014 A, Ref. RB(h)	5.00%	08/01/2036		1,000		1,004,007
Los Angeles County Schools Regionalized Business Services Corp. (Los Angeles County Schools Pooled Financing Program); Series 1999 A, COP (INS - AMBAC)(a)(d)	0.00%	08/01/2024		1,265		1,231,331
Lynwood (City of), CA Public Financing Authority (Measure M); Series 2019 A, RB (INS - AGM)(a)	5.25%	06/01/2048		3,185		3,363,152
Madera (County of), CA (Valley Children’s Hospital); Series 1995, COP (INS - NATL)(a)	5.75%	03/15/2028		85		87,363
Madera (County of), CA Community Facilities District No. 2017-1 (Tesoro Viejo);
Series 2020, RB	4.00%	09/01/2045		2,060		1,756,284
Series 2020, RB	4.00%	09/01/2051		3,560		2,906,838
Marina (City of), CA Redevelopment Agency Successor Agency;
Series 2018 B, RB	5.00%	09/01/2038		250		258,025
Series 2020 A, RB	4.00%	09/01/2040		700		652,475
Series 2020 B, RB	4.00%	09/01/2040		700		629,714
McFarland Unified School District (Election of 2012); Series 2014 A, GO Bonds(b)(c)	5.50%	11/01/2024		1,750		1,790,221
Menifee (City of), CA (Meadow Run); Series 2022, RB	4.00%	09/01/2051		570		490,951

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

                             Invesco California Municipal Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
California–(continued)
Menifee Union School District;
Series 2020 C, GO Bonds (INS - AGM)(a)	3.00%	08/01/2040		$     1,500	$	1,226,288
Series 2020 C, GO Bonds (INS - AGM)(a)	3.00%	08/01/2045		2,200		1,667,621
Series 2021, RB	4.00%	09/01/2044		560		499,103
Series 2021, RB	4.00%	09/01/2051		675		573,242
Menifee Union School District (Community Facilities District No. 2006-2); Series 2020, Ref. RB	4.00%	09/01/2045		705		621,225
Menifee Union School District (Community Facilities District No. 2011-1 - Improvement Area No. 3);
Series 2018, RB	5.00%	09/01/2048		1,500		1,535,511
Series 2021, RB	4.00%	09/01/2051		1,825		1,533,045
Menifee Union School District (Community Facilities District No. 2011-1 - Improvement Area No. 5); Series 2021, RB	4.00%	09/01/2045		975		855,577
Menifee Union School District (Election of 2008); Series 2009 C, GO Bonds (INS - AGC)(a)(d)	0.00%	08/01/2035		940		617,350
Menifee Union School District Public Financing Authority; Series 2017 A, RB (INS - NATL)(a)	5.00%	09/01/2033		1,000		1,047,067
Merced City School District (Election of 2014);
Series 2018, GO Bonds	5.00%	08/01/2048		3,020		3,161,804
Series 2022, GO Bonds (INS - AGM)(a)	4.00%	08/01/2046		3,500		3,519,157
Moorpark Unified School District (Election of 2008); Series 2009 A, GO Bonds (INS - AGC)(a)(d)	0.00%	08/01/2031		840		634,524
Moreno Valley Unified School District (Community Facilities District No. 2004-4); Series 2015, RB	5.00%	09/01/2045		2,050		2,062,968
Moreno Valley Unified School District (Community Facilities District No. 2015-2);
Series 2019, RB	5.00%	09/01/2044		435		442,570
Series 2019, RB	5.00%	09/01/2048		485		490,896
Mountain House Public Financing Authority (Green Bonds);
Series 2020 A, RB (INS - BAM)(a)	4.00%	12/01/2050		4,985		4,818,653
Series 2020 A, RB (INS - BAM)(a)	4.00%	12/01/2055		12,045		11,524,479
Series 2023, RB (INS - BAM)(a)	4.13%	12/01/2048		2,125		2,103,953
Mountain View Shoreline Regional Park Community; Series 2018 A, RB (INS - AGM)(a)	5.00%	08/01/2048		2,000		2,087,844
Mt. San Antonio Community College District (Election of 2018); Series 2019 A, GO Bonds	5.00%	08/01/2044		8,000		8,581,481
Murrieta (City of), CA (Community Facilities District No. 2005-5); Series 2017, RB	5.00%	09/01/2042		655		666,980
Norco (City of), CA Community Redevelopment Agency Successor Agency (Project Area No. 1); Series 2014, Ref. RB (INS - BAM)(a)	5.00%	03/01/2030		1,500		1,508,135
North Orange (County of), CA Community College District; Series 2022 C, GO Bonds(f)(l)	4.00%	08/01/2047		22,000		22,127,501
Northern California Tobacco Securitization Authority;
Series 2021 A, Ref. RB	4.00%	06/01/2049		1,615		1,443,643
Series 2021 B-1, Ref. RB	4.00%	06/01/2049		1,195		1,203,486
Oak Grove School District (Election of 2008);
Series 2018 E, Ref. GO Bonds(k)	5.00%	08/01/2038		8,680		4,972,308
Series 2018 E, Ref. GO Bonds(k)	5.00%	08/01/2042		5,755		3,246,684
Oakland Unified School District (Election of 2020); Series 2021 A, GO Bonds (INS - BAM)(a)	4.00%	08/01/2046		9,000		8,914,507
Ontario (City of), CA;
Series 2021, RB	4.00%	09/01/2051		500		432,016
Series 2023, RB	5.50%	09/01/2048		1,250		1,295,724
Series 2023, RB	5.75%	09/01/2054		2,250		2,362,981
Ontario (City of), CA Community Facilities District No. 25 (Park Place Facilities Phase II); Series 2019, RB	5.00%	09/01/2049		1,000		1,011,549
Ontario (City of), CA Community Facilities District No. 40 (Emerald Park Facilities); Series 2020, RB	4.00%	09/01/2050		780		655,676
Ontario (City of), CA Community Facilities District No. 43 (Park Place Facilities Phase IV); Series 2020, RB	4.00%	09/01/2050		1,000		839,327
Ontario (City of), CA Community Facilities District No. 45; Series 2020, RB	4.00%	09/01/2043		280		260,926
Orange (County of), CA Community Facilities District (Village of Esencia); Series 2020, RB	4.00%	08/15/2045		845		747,811
Orange (County of), CA Community Facilities District No. 2015-1 (Esencia Village);
Series 2015 A, RB	5.00%	08/15/2035		125		127,189
Series 2015 A, RB	5.25%	08/15/2045		1,810		1,829,061
Orange (County of), CA Community Facilities District No. 2016-1 (Village of Esencia); Series 2016 A, RB	5.00%	08/15/2031		1,350		1,400,651
Orange (County of), CA Community Facilities District No. 2021-1 (Ladera Ranch); Series 2022 A, RB	5.00%	08/15/2052		2,000		2,004,646

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

                             Invesco California Municipal Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
California–(continued)
Oxnard (City of), CA Financing Authority;
Series 2014, Ref. RB (INS - AGM)(a)	5.00%	06/01/2032		$     1,250	$	1,259,164
Series 2014, Ref. RB (INS - AGM)(a)	5.00%	06/01/2033		1,500		1,510,923
Series 2014, Ref. RB (INS - AGM)(a)	5.00%	06/01/2034		850		856,066
Palm Desert (City of), CA;
Series 2021 A, Ref. RB	4.00%	09/01/2026		300		299,922
Series 2021 A, Ref. RB	4.00%	09/01/2027		315		315,613
Series 2021 A, Ref. RB	4.00%	09/01/2030		250		248,623
Series 2021 A, Ref. RB	4.00%	09/01/2033		275		271,081
Series 2021 A, Ref. RB	4.00%	09/01/2036		300		288,387
Palm Desert (City of), CA Financing Authority (Project Area No. 2); Series 2003, RB (INS - NATL)(a)	5.00%	08/01/2033		40		40,148
Palm Springs (City of), CA Community Redevelopment Agency Successor Agency; Series 2014, Ref. RB (INS - AGM)(a)	5.00%	09/01/2032		445		452,753
Palomar Community College District (Election of 2006); Series 2010, GO Bonds(k)	6.38%	08/01/2045		3,330		2,963,962
Palomar Health;
Series 2017, COP	4.00%	11/01/2047		3,185		2,645,318
Series 2017, Ref. RB	5.00%	11/01/2042		4,835		4,863,433
Paradise Unified School District;
Series 2023 C, GO Bonds	5.00%	08/01/2047		2,310		2,405,414
Series 2023 C, GO Bonds	5.00%	08/01/2052		3,605		3,727,379
Perris (City of), CA Joint Powers Authority (Green Valley West Elementary);
Series 2021, RB	4.00%	09/01/2044		1,060		937,103
Series 2021, RB	4.00%	09/01/2051		1,225		1,029,030
Perris Elementary School District (Election of 2014);
Series 2014 A, GO Bonds (INS - BAM)(a)	6.00%	08/01/2029		235		239,106
Series 2014 A, GO Bonds (INS - BAM)(a)	6.00%	08/01/2030		290		294,990
Perris Union High School District (School Financing); Series 2019, Ref. COP (INS - BAM)(a)	5.00%	10/01/2048		3,000		3,171,406
Piedmont Unified School District; Series 2019, GO Bonds	3.00%	08/01/2045		4,375		3,490,939
Pittsburg Public Financing Authority; Series 2022 A, RB (INS - AGM)(a)	5.00%	08/01/2052		13,580		14,574,114
Pittsburg Unified School District Financing Authority (Pittsburg Unified School District Bond Program); Series 2019, RB (INS - AGM)(a)	5.00%	09/01/2047		7,000		7,341,428
Pixley Union School District (Election of 2014); Series 2014 A, GO Bonds(b)(c)	5.25%	08/01/2024		1,000		1,014,599
Poway Unified School District (Del Sur East II); Series 2020, RB (INS - AGM)(a)	4.00%	09/01/2050		4,255		4,080,542
Poway Unified School District Public Financing Authority; Series 2015 B, Ref. RB (INS - BAM)(a)	5.00%	09/01/2035		1,940		2,000,654
Rancho Cordova (City of), CA; Series 2023, RB	5.38%	09/01/2053		1,300		1,323,177
Rancho Cordova (City of), CA (Community Facilities District No. 2014-1);
Series 2021, RB	4.00%	09/01/2041		390		353,820
Series 2021, RB	4.00%	09/01/2046		585		504,271
Series 2021, RB	4.00%	09/01/2050		500		419,023
Rancho Cordova (City of), CA (Community Facilities District No. 2018-1);
Series 2021, RB	4.00%	09/01/2046		225		196,998
Series 2021, RB	4.00%	09/01/2050		200		170,457
Rancho Mirage Community Facilities District (Del Webb);
Series 2021, RB	4.00%	09/01/2046		380		329,887
Series 2021, RB	4.00%	09/01/2051		325		273,008
Ravenswood School District;
Series 2018, GO Bonds	5.00%	08/01/2031		500		527,136
Series 2018, GO Bonds	5.00%	08/01/2033		500		526,822
Series 2018, GO Bonds	5.00%	08/01/2035		750		789,012
Regents of the University of California Medical Center;
Series 2022 P, RB(f)	5.00%	05/15/2047		30,280		32,925,194
Series 2022 P, RB	4.00%	05/15/2053		15,180		14,615,993
Series 2022 P, RB(f)(l)	4.00%	05/15/2053		15,000		14,442,681
Rialto Unified School District;
Series 2019 A, GO Bonds (INS - BAM)(a)(d)	0.00%	08/01/2042		8,125		3,347,301
Series 2019 A, GO Bonds (INS - BAM)(a)(d)	0.00%	08/01/2043		4,500		1,754,765
Rio Hondo Community College District (Election of 2004); Series 2010 C, GO Bonds(k)	6.63%	08/01/2042		10,530		12,582,604
River Islands Public Financing Authority;
Series 2022 A-1, Ref. RB (INS - AGM)(a)	5.25%	09/01/2052		3,600		3,894,785
Series 2022, RB (INS - AGM)(a)	5.25%	09/01/2052		2,000		2,163,769

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

                             Invesco California Municipal Fund

	Interest Rate		Maturity   Date		Principal   Amount (000)		Value
California–(continued)
Riverside (City of), CA (Community Facilities District No. 92-1); Series 2005 A, RB		5.30%		09/01/2034	$	1,050	$	1,053,980
Riverside (County of), CA Community Facilities District No. 07-2 (Clinton Keith);
Series 2015, RB		5.00%		09/01/2044		1,000		1,006,288
Series 2017, RB		5.00%		09/01/2045		535		541,993
Riverside (County of), CA Public Financing Authority (Desert Communities and Interstate 215 Corridor);
Series 2017 A, Ref. RB (INS - BAM)(a)		5.00%		10/01/2034		1,000		1,075,491
Series 2017 A, Ref. RB (INS - BAM)(a)		4.00%		10/01/2040		500		500,209
Riverside (County of), CA Redevelopment Successor Agency (Jurupa Valley Redevelopment);
Series 2011, RB(b)(c)		7.75%		10/01/2024		1,000		1,037,772
Series 2011, RB(b)(c)		8.00%		10/01/2024		1,000		1,039,373
Riverside (County of), CA Transportation Commission; Series 2021 B-1, Ref. RB		4.00%		06/01/2046		16,545		15,505,939
Riverside Unified School District (Community Facilities District No. 32);
Series 2020, RB		4.00%		09/01/2045		290		256,250
Series 2020, RB		4.00%		09/01/2050		610		519,895
Riverside Unified School District (Community Facilities District No. 33);
Series 2021, RB		4.00%		09/01/2041		275		250,103
Series 2021, RB		4.00%		09/01/2050		600		509,804
Riverside Unified School District (Election of 2016);
Series 2019 B, GO Bonds		3.00%		08/01/2038		1,740		1,509,388
Series 2019 B, GO Bonds		3.00%		08/01/2039		4,250		3,620,387
Series 2019 B, GO Bonds		3.00%		08/01/2040		2,770		2,327,237
Romoland School District (Underwood);
Series 2023, RB		5.00%		09/01/2046		370		375,548
Series 2023, RB		5.00%		09/01/2054		1,090		1,095,071
Romoland School District Community Facilities No. 2004-1; Series 2015, Ref. RB		5.00%		09/01/2038		1,000		1,011,997
Root Creek Water District Community Facilities District No. 2016-1 Improvement Area No. 1; Series 2021, RB		4.00%		09/01/2050		570		501,066
Root Creek Water District Community Facilities District No. 2016-1 Improvement Area No. 2; Series 2021, RB		4.00%		09/01/2050		930		817,528
Roseville (City of), CA; Series 2023, RB		6.00%		09/01/2053		1,500		1,566,383
Roseville (City of), CA (Villages at Sierra Vista Community Facilities District No. 1 - Public Facilities);
Series 2020, RB		4.00%		09/01/2039		375		342,246
Series 2020, RB		4.00%		09/01/2045		350		297,959
Series 2020, RB		4.00%		09/01/2050		475		394,449
Roseville (City of), CA (Westpark-Federico Community Facilities District);
Series 2022, RB		5.00%		09/01/2043		1,830		1,853,783
Series 2022, RB		5.00%		09/01/2052		2,760		2,736,604
Sacramento (City of), CA (Convention Center Complex); Series 2018 A, RB		5.00%		06/01/2048		2,000		2,056,142
Sacramento (City of), CA (North Natomas Community Facilities District No. 4);
Series 2015, Ref. RB		5.00%		09/01/2032		1,290		1,317,916
Series 2015, Ref. RB		5.00%		09/01/2033		1,200		1,226,033
Sacramento (City of), CA Municipal Utility District (Green Bonds); Series 2020 H, RB		4.00%		08/15/2045		5,000		5,034,103
Sacramento (County of), CA; Series 2018 C, Ref. RB(h)		5.00%		07/01/2039		2,835		2,928,870
Sacramento (County of), CA (Community Facilities District No. 2014-2); Series 2021, RB		4.00%		09/01/2046		650		563,481
Sacramento (County of), CA Housing Authority; Series 2002 C, RB (INS - AMBAC)(a)(h)		5.25%		06/01/2027		520		509,790
San Bernardino (City of), CA;
Series 2022, RB		5.13%		09/01/2047		555		558,556
Series 2022, RB		5.25%		09/01/2052		680		683,933
San Bernardino (City of), CA Joint Powers Financing Authority; Series 1999, Ref. COP (INS - NATL)(a)		5.50%		09/01/2024		5		5,008
San Bernardino Mountains Community Hospital District;
Series 2007 A, COP		5.00%		02/01/2027		650		650,120
Series 2007 A, COP		5.00%		02/01/2037		3,235		3,235,083
San Diego (County of), CA Redevelopment Agency (Gillespie Field); Series 2005 A, Ref. RB(h)		5.75%		12/01/2032		3,365		3,370,150

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

                             Invesco California Municipal Fund

	Interest Rate		Maturity   Date		Principal   Amount (000)		Value
California–(continued)
San Diego (County of), CA Regional Airport Authority;
Series 2017 B, RB(h)		5.00%		07/01/2037		$     1,000	$	1,027,166
Series 2019 B, Ref. RB(h)		5.00%		07/01/2049		4,325		4,391,314
Series 2021 A, RB		4.00%		07/01/2056		5,130		4,871,584
Series 2021 A, RB		5.00%		07/01/2056		3,880		4,126,528
Series 2021 B, RB(h)		4.00%		07/01/2046		15,040		14,154,410
Series 2021 B, RB(h)		4.00%		07/01/2051		4,000		3,655,404
Series 2021 B, RB(h)		5.00%		07/01/2051		1,500		1,537,826
Series 2021 B, RB(h)		5.00%		07/01/2056		22,240		22,719,637
Series 2023 B, RB(h)		5.00%		07/01/2053		5,000		5,173,578
San Diego Unified School District; Series 2022, GO Bonds(f)		4.25%		07/01/2052		17,500		17,700,596
San Diego Unified School District (Election of 2012) (Green Bonds); Series 2021 N-2, GO Bonds		4.00%		07/01/2046		11,300		11,357,245
San Diego Unified School District (Election of 2022); Series 2023, GO Bonds		4.00%		07/01/2053		15,000		14,736,143
San Francisco (City & County of), CA Airport Commission (San Francisco International Airport);
Second Series 2018 D, RB(h)		5.00%		05/01/2048		11,290		11,472,723
Second Series 2022 B, Ref. RB		4.00%		05/01/2052		10,225		10,044,367
Series 2017 A, RB(h)		5.00%		05/01/2042		1,930		1,967,317
Series 2018 D, RB(h)		5.25%		05/01/2048		6,200		6,376,506
Series 2019 A, RB(h)		5.00%		05/01/2049		49,310		50,210,833
Series 2019 E, RB(h)		4.00%		05/01/2050		5,000		4,588,324
Series 2019 E, RB(h)		5.00%		05/01/2050		3,080		3,134,144
San Francisco (City & County of), CA Community Facilities District No. 2016-1;
Series 2020, RB		4.00%		09/01/2042		550		493,979
Series 2020, RB		4.00%		09/01/2050		1,025		864,266
San Francisco (City & County of), CA Community Facilities District No. 2016-1 (Treasure Island); Series 2022, RB(g)		4.00%		09/01/2052		2,000		1,655,343
San Francisco (City & County of), CA Infrastructure & Revitalization Financing District No. 1;
Series 2022 A, RB(g)		5.00%		09/01/2037		385		391,584
Series 2022 A, RB(g)		5.00%		09/01/2052		2,000		1,879,355
Series 2022 B, RB(g)		5.00%		09/01/2052		1,000		925,986
San Francisco (City & County of), CA Public Utilities Commission (Green Bonds);
Series 2021 A, RB		4.00%		10/01/2048		10,000		10,036,397
Series 2021 A, RB		4.00%		10/01/2051		5,000		4,958,958
San Francisco (City & County of), CA Redevelopment Agency Successor Agency (Transbay Infrastructure);
Series 2023, RB (INS - AGM)(a)		5.00%		08/01/2048		2,250		2,415,551
Series 2023, RB (INS - AGM)(a)		5.25%		08/01/2053		2,375		2,590,074
San Francisco (City & County of), CA Special Tax District No. 2020-1;
Series 2023, RB(g)		5.75%		09/01/2050		850		865,262
Series 2023, RB(g)		5.75%		09/01/2053		1,800		1,826,857
San Francisco (City & County of), CA Successor Agency to the Redevelopment Agency (Hunters Point Shipyard Phase One Improvements); Series 2014, Ref. RB		5.00%		08/01/2044		2,745		2,752,830
San Francisco (City & County of), CA Successor Agency to the Redevelopment Agency (Mission Bay South Redevelopment); Series 2014 A, RB		5.00%		08/01/2043		2,810		2,815,152
San Francisco (City & County of), CA Successor Agency to the Redevelopment Agency Community Facilities District No. 6 (Mission Bay South Public Improvements);
Series 2013 A, Ref. RB(b)(c)		5.00%		02/28/2024		500		502,175
Series 2013 B, RB(b)(c)		5.00%		02/28/2024		500		502,175
San Gorgonio Memorial Health Care District; Series 2014, Ref. GO Bonds		5.00%		08/01/2032		500		495,089
San Jacinto Unified School District (Community Facilities District No. 2020-1); Series 2022, RB		4.00%		09/01/2052		760		623,134
San Jacinto Unified School District Financing Authority; Series 2017, Ref. RB		5.00%		09/01/2043		250		254,028
San Joaquin Hills Transportation Corridor Agency;
Series 2014 B, Ref. RB		5.25%		01/15/2044		2,000		2,018,057
Series 2021 A, Ref. RB		4.00%		01/15/2044		1,705		1,694,260
San Jose (City of), CA; Series 2017 A, Ref. RB(h)		5.00%		03/01/2047		17,260		17,318,901
San Jose (City of), CA (El Parador Apartments); Series 2000 A, RB(h)		6.20%		01/01/2041		3,150		3,084,620
San Jose (City of), CA (Fallen Leaves Apartments); Series 2002 J-1, RB (INS - AMBAC)(a)(h)		5.10%		12/01/2032		3,695		3,640,069
San Jose (City of), CA (Orvieto Family Apartments); Series 2010 B-1, RB		4.75%		08/01/2029		4,980		4,985,958
San Jose Evergreen Community College District (Election of 2004); Series 2008 B, GO Bonds (INS - AGM)(a)(d)		0.00%		09/01/2031		3,110		2,391,528

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

                             Invesco California Municipal Fund

	Interest Rate		Maturity   Date		Principal   Amount (000)		Value
California–(continued)
San Luis Obispo (County of), CA Financing Authority (Lopez Dam Improvement); Series 2011 A, Ref. RB (INS - AGM)(a)		5.00%		08/01/2030	$	1,500	$	1,502,087
San Marcos Unified School District (Community Facilities District No. 7); Series 2019, RB		5.00%		09/01/2048		750		759,753
San Mateo Foster City School District;
Series 2010, GO Bonds(k)		6.63%		08/01/2042		1,010		1,043,149
Series 2023 B, GO Bonds		4.00%		08/01/2051		10,000		10,060,078
Santa Barbara (County of), CA;
Series 2018 B, COP(h)		5.00%		12/01/2037		12,695		13,367,549
Series 2018 B, COP(h)		5.00%		12/01/2038		5,000		5,255,575
Santa Clara (County of), CA Housing Authority;
Series 2001 A, RB(h)		5.85%		08/01/2031		845		846,614
Series 2001 A, RB(h)		6.00%		08/01/2041		2,070		2,111,436
Series 2010 A-1, RB (CEP - FHLMC)		4.75%		11/01/2027		4,010		4,011,390
Santa Clarita Community College District; Series 2019, GO Bonds		3.00%		08/01/2044		1,410		1,117,847
Santa Monica (City of), CA Redevelopment Agency;
Series 2011, RB		5.88%		07/01/2036		1,750		1,753,756
Series 2011, RB		5.88%		07/01/2042		2,600		2,604,486
Santa Rosa Elementary School District (Election of 2022); Series 2023 A, GO Bonds		4.00%		08/01/2053		6,010		5,913,101
Sebastopol Union School District; Series 2020 A, GO Bonds		4.00%		08/01/2041		500		501,263
Signal Hill (City of), CA Redevelopment Agency Successor Agency (Signal Hill Redevelopment Project No. 1); Series 2011, RB		7.00%		10/01/2026		1,025		1,027,664
Silicon Valley Tobacco Securitization Authority (Santa Clara);
Series 2007 A, RB(d)		0.00%		06/01/2036		22,420		11,003,039
Series 2007 A, RB(d)		0.00%		06/01/2041		10,000		3,598,112
Series 2007 B, RB(d)		0.00%		06/01/2047		12,650		3,069,533
Series 2007 C, RB(d)		0.00%		06/01/2056		65,815		6,092,751
Simi Valley Unified School District (Election of 2004);
Series 2007 C, GO Bonds (INS - AGM)(a)(d)		0.00%		08/01/2028		3,480		2,973,132
Series 2007 C, GO Bonds (INS - AGM)(a)(d)		0.00%		08/01/2030		2,765		2,188,839
South El Monte (City of), CA Improvement District Successor Agency; Series 2015 A, Ref. RB (INS - AGM)(a)		5.00%		08/01/2035		4,150		4,279,076
South Orange (County of), CA Public Financing Authority (County of Orange Sheriff-Coroner); Series 2022, RB		5.00%		06/01/2052		10,000		10,722,455
South San Francisco (City of), CA (Community Facilities District No. 2021-01); Series 2022, RB		5.00%		09/01/2052		2,500		2,519,939
Southern California Public Power Authority (No.1);
Series 2007 A, RB		5.25%		11/01/2026		250		259,326
Series 2007 A, RB		5.25%		11/01/2027		2,255		2,364,269
Series 2007 A, RB		5.00%		11/01/2028		205		214,212
Series 2007 A, RB		5.00%		11/01/2029		165		172,546
Series 2007 A, RB		5.00%		11/01/2033		2,085		2,209,976
Series 2014 A, RB		5.00%		07/01/2035		13,000		13,085,550
Southern California Tobacco Securitization Authority (San Diego County Asset Securitization Corp.);
Series 2006, RB(d)		0.00%		06/01/2046		3,000		543,531
Series 2019, Ref. RB		5.00%		06/01/2039		750		778,605
Series 2019, Ref. RB		5.00%		06/01/2048		1,995		2,025,930
Series 2019, Ref. RB(d)		0.00%		06/01/2054		20,000		3,739,484
Stockton (City of), CA Community Facilities District (Westlake Villages II); Series 2022, RB		5.13%		09/01/2052		1,800		1,749,561
Stockton (City of), CA Redevelopment Agency Successor Agency; Series 2016 A, Ref. RB (INS - AGM)(a)		5.00%		09/01/2034		1,000		1,044,299
Sulphur Springs Union School District; Series 2020, RB		4.00%		09/01/2050		1,225		1,031,324
Susanville (City of), CA (Natural Gas Enterprise Ref.); Series 2019, Ref. RB (INS - AGM)(a)		4.00%		06/01/2045		1,000		999,314
Tahoe-Truckee Unified School District;
Series 2016 B, GO Bonds		5.00%		08/01/2039		3,000		3,109,103
Series 2016 B, GO Bonds		5.00%		08/01/2041		950		981,944
Tejon Ranch Public Facilities Finance Authority (Community Facilities District No. 2008-1 - Tejon Industrial Complex Public Improvements); Series 2020, RB		4.00%		09/01/2050		4,750		4,054,594

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

                             Invesco California Municipal Fund

	Interest Rate		Maturity   Date		Principal   Amount (000)		Value
California–(continued)
Three Rivers Levee Improvement Authority (Community Facilities District No. 2006-1);
Series 2021, Ref. RB		4.00%		09/01/2036		$    1,075	$	1,017,290
Series 2021, Ref. RB		4.00%		09/01/2041		2,840		2,462,633
Series 2021, Ref. RB		4.00%		09/01/2046		2,700		2,194,623
Torrance Unified School District (Election of 2008-Measure Z); Series 2009, GO Bonds(d)		0.00%		08/01/2034		3,600		2,102,799
Tracy (City of), CA Community Facilities District;
Series 2022, RB		5.00%		09/01/2042		1,905		1,945,197
Series 2022, RB		5.00%		09/01/2052		2,400		2,402,218
Transbay Joint Powers Authority (Green Bonds);
Series 2020 A, RB		5.00%		10/01/2045		1,500		1,520,712
Series 2020 A, RB		5.00%		10/01/2049		2,800		2,818,882
Series 2020 B, RB		5.00%		10/01/2035		250		260,140
Series 2020 B, RB		5.00%		10/01/2038		300		306,107
Tustin Unified School District (Community Facilities District No. 97-1); Series 2015 A, Ref. RB (INS - BAM)(a)		5.00%		09/01/2038		2,000		2,044,316
University of California;
Series 2017, RB(f)		5.00%		05/15/2047		15,000		15,604,493
Series 2017, RB(f)(l)		5.00%		05/15/2048		16,000		16,852,635
Series 2018 AZ, Ref. RB		5.00%		05/15/2048		4,000		4,213,159
Series 2020 BE, Ref. RB		4.00%		05/15/2050		12,000		11,921,873
Series 2021 Q, Ref. RB (INS - BAM)(a)		4.00%		05/15/2051		5,040		5,003,239
Upland (City of), CA Community Facilities District No. 2003-2 (Improvement Area No. 2); Series 2015, Ref. RB		5.00%		09/01/2029		1,030		1,040,914
Series 2015, Ref. RB		5.00%		09/01/2030		1,080		1,090,723
Upland (City of), CA Community Facilities District No. 2015-1 (Improvement Area No. 1); Series 2019 A, RB		4.00%		09/01/2049		750		646,549
Upland (City of), CA Community Facilities District No. 2016-1 (Improvement Area No. 2);
Series 2021 A, RB		4.00%		09/01/2040		260		234,712
Series 2021 A, RB		4.00%		09/01/2045		165		139,804
Series 2021 A, RB		4.00%		09/01/2051		260		211,237
Val Verde Unified School District Community Facilities Disctrict No. 2018-2 (Stratford Ranch Improvement Area No. 2); Series 2023, RB		5.00%		09/01/2054		955		952,208
Valley (City of), CA Sanitary District; Series 2005, RB		5.20%		09/02/2030		1,320		1,325,083
Victorville (City of), CA (Community Facilities District No. 07-01); Series 2012 A, RB		5.35%		09/01/2042		485		485,970
Washington Township Health Care District;
Series 2023 A, RB		5.00%		07/01/2043		250		247,679
Series 2023 A, RB		5.75%		07/01/2048		500		529,437
Series 2023 A, RB		5.75%		07/01/2053		1,000		1,048,848
Washington Township Health Care District (Election of 2020);
Series 2023 B, GO Bonds		5.25%		08/01/2048		1,625		1,778,095
Series 2023 B, GO Bonds		5.50%		08/01/2053		2,500		2,790,602
West Contra Costa Unified School District;
Series 2005, GO Bonds (INS - NATL)(a)(d)		0.00%		08/01/2025		2,500		2,360,285
Series 2020 E, GO Bonds (INS - AGM)(a)		3.00%		08/01/2045		6,465		5,070,422
West Covina (City of), CA Public Financing Authority; Series 2018 A, Ref. RB		5.00%		05/01/2031		445		476,324
West Patterson Financing Authority (Community Facilities District No. 2005-1);
Series 2021, RB		4.00%		09/01/2043		600		525,908
Series 2021, RB		4.00%		09/01/2046		745		637,067
Series 2021, RB		4.00%		09/01/2049		1,775		1,490,758
West Patterson Financing Authority (Community Facilities District No. 2015-1);
Series 2015, RB		5.25%		09/01/2035		610		624,491
Series 2015, RB		5.25%		09/01/2045		1,550		1,566,214
Whittier (City of), CA (Presbyterian Intercommunity Hospital, Inc.); Series 2014, RB		5.00%		06/01/2044		1,500		1,504,421
Yosemite Community College District (Election of 2004); Series 2008 C, GO Bonds (INS - AGM)(a)(d)		0.00%		08/01/2024		4,685		4,583,348
								2,106,935,078
Guam–0.48%
Guam (Territory of); Series 2021 F, Ref. RB		4.00%		01/01/2042		1,120		1,018,591
Guam (Territory of) Department of Education (John F. Kennedy); Series 2020, Ref. COP		5.00%		02/01/2040		2,750		2,697,601
Guam (Territory of) Port Authority; Series 2018 A, RB		5.00%		07/01/2048		1,825		1,842,060

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

                             Invesco California Municipal Fund

	Interest Rate		Maturity   Date		Principal   Amount (000)		Value
Guam–(continued)
Guam (Territory of) Waterworks Authority;
Series 2014 A, Ref. RB		5.00%		07/01/2035		$    765	$	769,633
Series 2020 A, RB		5.00%		01/01/2050		3,460		3,481,442
								9,809,327
Northern Mariana Islands–0.10%
Northern Mariana Islands (Commonwealth of) Ports Authority; Series 1998 A, RB(h)		6.25%		03/15/2028		675		647,891
Series 2005 A, RB(h)		5.50%		03/15/2031		1,415		1,297,628
								1,945,519
Puerto Rico–4.07%
Children’s Trust Fund; Series 2002, RB		5.50%		05/15/2039		9,080		9,102,946
Series 2002, RB		5.63%		05/15/2043		8,735		8,834,176
PRIFA Custodial Trust; Series 2005, RB		0.00%		03/15/2049		83		25,221
Puerto Rico (Commonwealth of); Series 2021 A, GO Bonds(d)		0.00%		07/01/2024		136		132,216
Series 2021 A, GO Bonds(d)		0.00%		07/01/2033		12,619		7,698,342
Series 2021 A-1, GO Bonds		5.38%		07/01/2025		925		941,623
Series 2021 A-1, GO Bonds		5.63%		07/01/2027		917		958,247
Series 2021 A-1, GO Bonds		5.63%		07/01/2029		902		954,697
Series 2021 A-1, GO Bonds		5.75%		07/01/2031		876		943,963
Series 2021 A-1, GO Bonds		4.00%		07/01/2033		1,731		1,619,103
Series 2021 A-1, GO Bonds		4.00%		07/01/2035		747		684,793
Series 2021 A-1, GO Bonds		4.00%		07/01/2037		641		574,180
Series 2021 A-1, GO Bonds		4.00%		07/01/2041		871		754,583
Subseries 2022, RN		0.00%		11/01/2043		3,974		2,071,594
Puerto Rico (Commonwealth of) Aqueduct & Sewer Authority;
Series 2008 A, RB		6.13%		07/01/2024		566		570,946
Series 2022 A, Ref. RB(g)		5.00%		07/01/2037		1,500		1,503,052
Puerto Rico (Commonwealth of) Electric Power Authority;
Series 2012 A, RB(i)		5.00%		07/01/2042		4,000		1,010,000
Series 2012 A, RB(i)		5.05%		07/01/2042		1,000		252,500
Series 2013 A, RB(i)		6.75%		07/01/2036		7,350		1,855,875
Puerto Rico (Commonwealth of) Highway & Transportation Authority;
Series 2022 A, RB		5.00%		07/01/2062		957		947,278
Series 2022 B, RB(d)		0.00%		07/01/2032		622		403,361
Series 2022 C, RB(k)		5.00%		07/01/2053		1,064		688,728
Puerto Rico (Commonwealth of) Industrial, Tourist, Educational, Medical & Environmental Control Facilities Financing Authority; Series 2000, RB (Acquired 05/26/2000; Cost $5,438,259)(h)(i)(j)		6.63%		06/01/2026		5,450		3,815,000
Puerto Rico Sales Tax Financing Corp.;
Series 2018 A-1, RB(d)		0.00%		07/01/2024		83		81,200
Series 2018 A-1, RB(d)		0.00%		07/01/2027		1,524		1,316,326
Series 2018 A-1, RB(d)		0.00%		07/01/2031		1,616		1,165,855
Series 2018 A-1, RB(d)		0.00%		07/01/2033		11,974		7,848,988
Series 2018 A-1, RB		4.50%		07/01/2034		419		416,548
Series 2018 A-1, RB		4.55%		07/01/2040		342		333,168
Series 2018 A-1, RB(d)		0.00%		07/01/2046		8,788		2,593,276
Series 2018 A-1, RB(d)		0.00%		07/01/2051		13,879		3,019,518
Series 2018 A-1, RB		4.75%		07/01/2053		2,510		2,375,395
Series 2018 A-1, RB		5.00%		07/01/2058		11,595		11,271,265
Series 2019 A-2, RB		4.33%		07/01/2040		2,154		2,044,247
Series 2019 A-2, RB		4.54%		07/01/2053		65		59,403
Series 2019 A-2, RB		4.78%		07/01/2058		865		814,886
Series 2019 A-2B, RB		4.55%		07/01/2040		926		902,087
University of Puerto Rico; Series 2006 P, Ref. RB		5.00%		06/01/2030		2,190		2,110,037
								82,694,623

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

                             Invesco California Municipal Fund

	Interest Rate		Maturity   Date		Principal   Amount (000)		Value
Virgin Islands–0.19%
Virgin Islands (Government of) Port Authority;
Series 2014 A, Ref. RB(h)		5.00%		09/01/2029		$    1,645	$	1,564,250
Series 2014 A, Ref. RB(h)		5.00%		09/01/2033		1,500		1,367,440
Virgin Islands (Government of) Public Finance Authority (Garvee); Series 2015, RB(g)		5.00%		09/01/2030		1,000		1,011,335
								3,943,025
Total Municipal Obligations (Cost $2,259,178,296)								2,205,327,572
U.S. Dollar Denominated Bonds & Notes–0.14%
California–0.14%
CalPlant I LLC;
Exit Facility(g)(m)		15.00%		07/01/2025		485		485,000
Series 21A(g)(i)(m)		9.50%		03/31/2024		160		160,000
Series 21B(g)(i)(m)		9.50%		03/31/2024		605		605,000
Series 22A(g)(i)(m)		9.50%		03/31/2024		330		330,000
Series 22B(g)(i)(m)		9.50%		03/31/2024		30		30,000
Series 22C(g)(i)(m)		9.50%		03/31/2024		220		220,000
Series 22X(g)(i)(m)		9.50%		03/31/2024		325		325,000
Series 23A(g)(i)(m)		9.50%		03/31/2024		115		115,000
Series 23B(g)(i)(m)		9.50%		03/31/2024		100		100,000
Series 23C(g)(i)(m)		9.50%		03/31/2024		165		165,000
Series 23D (Acquired 05/04/2023; Cost $140,000)(g)(i)(j)(m)		9.50%		03/31/2024		140		140,000
Series 23E(g)(i)(m)		9.50%		03/31/2024		160		160,000
Total U.S. Dollar Denominated Bonds & Notes (Cost $2,835,000)								2,835,000
TOTAL INVESTMENTS IN SECURITIES(n)–108.70% (Cost $2,262,013,296)								2,208,162,572
FLOATING RATE NOTE OBLIGATIONS–(8.23)%
Notes with interest and fee rates ranging from 3.82% to 3.87% at 11/30/2023 and contractual maturities of collateral ranging from 05/15/2035 to 09/01/2053(o)								(167,110,000	)
BORROWINGS–(0.89)%								(18,000,000	)
OTHER ASSETS LESS LIABILITIES–0.42%								8,317,318
NET ASSETS–100.00%							$	2,031,369,890

Investment Abbreviations:

AGC	– Assured Guaranty Corp.
AGM	– Assured Guaranty Municipal Corp.
AMBAC	– American Municipal Bond Assurance Corp.
BAM	– Build America Mutual Assurance Co.
CEP	– Credit Enhancement Provider
COP	– Certificates of Participation
Ctfs.	– Certificates
FGIC	– Financial Guaranty Insurance Company
FHLMC	– Federal Home Loan Mortgage Corp.
FNMA	– Federal National Mortgage Association
GO	– General Obligation
INS	– Insurer
NATL	– National Public Finance Guarantee Corp.
RB	– Revenue Bonds
Ref.	– Refunding
RN	– Revenue Notes

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

                             Invesco California Municipal Fund

Notes to Schedule of Investments:

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

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

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

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

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

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

^(g)  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 $148,663,005, which represented 7.32% of the Fund’s Net Assets.

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

⁽ⁱ⁾  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 $9,939,375, which represented less than 1% of the Fund’s Net Assets.

^(j)  Restricted security. The aggregate value of these securities at November 30, 2023 was $4,305,000, which represented less than 1% of the Fund’s Net Assets.

^(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)  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 $37,925,000. However, such shortfall payment would be reduced by the proceeds from the sale of the security underlying the TOB Trusts.

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

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

Entity	Percent
Assured Guaranty Municipal Corp.	5.14%
Build America Mutual Assurance Co.	5.36%

^(o)  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 Fund’s investments with a value of $239,403,926 are held by TOB Trusts and serve as collateral for the $167,110,000 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 California Municipal Fund

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		$–		$2,205,327,572		$              –		$2,205,327,572
U.S. Dollar Denominated Bonds & Notes		–		–		2,835,000		2,835,000
Total Investments in Securities		–		2,205,327,572		2,835,000		2,208,162,572
Other Investments - Assets
Investments Matured		–		540,411		–		540,411
Total Investments		$–		$2,205,867,983		$2,835,000		$2,208,702,983

                             Invesco California Municipal Fund