Schedule of Investments

November 30, 2023

(Unaudited)

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
Municipal Obligations–101.06%
Alabama–5.60%
Birmingham (City of) & Jefferson (County of), AL Civic Center Authority; Series 2018 A, RB	5.00%	07/01/2048	$	2,500	$	2,541,857
Birmingham (City of), AL Private Educational Building Authority (Birmingham-Southern College); Series 1996, RB	6.13%	12/01/2025		290		204,631
Birmingham (City of), AL Water Works Board; Series 2016 B, Ref. RB(a)(b)	5.00%	01/01/2027		16,150		17,199,343
Black Belt Energy Gas District (The); Series 2022 C-1, RB(b)	5.25%	06/01/2029		10,000		10,420,212
Fort Deposit (Town of), AL Cooperative District; Series 2003, RB	6.00%	02/01/2036		165		159,593
Homewood (City of), AL Educational Building Authority (Samford University); Series 2017 A, Ref. RB	5.00%	12/01/2047		4,500		4,558,530
Jefferson (County of), AL;
Series 2013 C, Revenue Wts. (INS - AGM)(c)	6.90%	10/01/2050		8,750		9,192,864
Series 2013 D, Revenue Wts.	6.00%	10/01/2042		8,000		8,406,167
Series 2013 D, Revenue Wts.	7.00%	10/01/2051		4,000		4,204,996
Series 2013 D, Revenue Wts.	6.50%	10/01/2053		7,500		7,882,415
Series 2013 F, Revenue Wts.	7.75%	10/01/2046		20,185		21,227,779
Series 2013 F, Revenue Wts.	7.90%	10/01/2050		20,000		21,033,756
Series 2017, Ref. Revenue Wts.	5.00%	09/15/2035		4,500		4,753,449
Lower Alabama Gas District (The); Series 2016 A, RB	5.00%	09/01/2046		5,000		5,197,504
Mobile (City of), AL Improvement District (McGowin Park); Series 2016 A, RB	5.25%	08/01/2030		200		191,377
Southeast Energy Authority A Cooperative District (No. 2); Series 2021 B, RB(b)	4.00%	12/01/2031		7,895		7,688,603
Southeast Energy Authority A Cooperative District (No. 3); Series 2022 A-1, RB(b)	5.50%	12/01/2029		4,105		4,350,170
Southeast Energy Authority A Cooperative District (No. 4); Series 2022 B-1, RB(b)	5.00%	08/01/2028		2,000		2,048,385
						131,261,631
Alaska–0.00%
Alaska (State of) Industrial Development & Export Authority (Boys & Girls Home & Family Services, Inc.); Series 2007 C, RB(d)	5.88%	12/01/2027		600		660
Arizona–1.71%
Arizona (State of) Industrial Development Authority (Academies of Math & Science);
Series 2017 A, Ref. RB (CEP - Ohio School District)	5.00%	07/01/2042		675		683,299
Series 2017 A, Ref. RB (CEP - Ohio School District)	5.00%	07/01/2047		925		930,905
Series 2017 A, Ref. RB (CEP - Ohio School District)	5.00%	07/01/2051		1,000		1,003,810
Series 2018 A, Ref. RB (CEP - Ohio School District)	5.00%	07/01/2038		500		510,803
Series 2018 A, Ref. RB (CEP - Ohio School District)	5.00%	07/01/2048		1,800		1,811,180
Series 2018 A, Ref. RB (CEP - Ohio School District)	5.00%	07/01/2052		2,125		2,133,014
Arizona (State of) Industrial Development Authority (Provident Group - Eastern Michigan University Parking);
Series 2018, RB(e)	5.00%	05/01/2048		1,100		605,000
Series 2018, RB(e)	5.00%	05/01/2051		1,000		550,000
Arizona (State of) Industrial Development Authority (Provident Group-NCCU Properties LLC); Series 2019 A, RB (INS - BAM)(c)	5.00%	06/01/2058		570		583,777
Arizona (State of) Industrial Development Authority (Social Bonds); Series 2020 A, RB	4.00%	11/01/2050		2,100		1,845,301
Chandler (City of), AZ Industrial Development Authority (Intel Corp.); Series 2005, RB(b)	3.80%	06/15/2028		5,000		5,062,786
Festival Ranch Community Facilities District (Assessment Districts Nos. 4 & 5); Series 2007, RB	5.75%	07/01/2032		273		261,239
Maricopa (County of), AZ Industrial Development Authority (GreatHearts Arizona);
Series 2017 C, RB (CEP - Ohio School District)	5.00%	07/01/2037		80		82,013
Series 2017 C, RB (CEP - Ohio School District)	5.00%	07/01/2048		145		146,225
Maricopa (County of), AZ Industrial Development Authority (Legacy Traditional Schools); Series 2019, Ref. RB(f)	5.00%	07/01/2049		1,400		1,275,854
Merrill Ranch Community Facilities District No. 1 (Assessment Area One); Series 2006, RB	5.30%	07/01/2030		167		167,002
Phoenix (City of), AZ Industrial Development Authority (Espiritu Community Development Corp. Charter School); Series 2006 A, RB	6.25%	07/01/2036		390		364,235
Phoenix (City of), AZ Industrial Development Authority (Great Hearts Academies); Series 2016 A, Ref. RB	5.00%	07/01/2041		1,200		1,177,804
Phoenix Civic Improvement Corp.; Series 2019, RB	4.00%	07/01/2044		6,855		6,754,719

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

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
Arizona–(continued)
Pima (County of), AZ Industrial Development Authority (Arizona Charter Schools); Series 2013 Q, Ref. RB	5.38%	07/01/2031	$	1,575	$	1,531,540
Pima (County of), AZ Industrial Development Authority (Christian Care Tuscon, Inc.);
Series 2017 A, Ref. RB(a)(b)	5.00%	06/15/2025		550		570,692
Series 2017 C, RB(a)(b)	5.00%	06/15/2025		1,010		1,047,998
Pima (County of), AZ Industrial Development Authority (Excalibur Charter School (The)); Series 2016, Ref. RB(f)	5.50%	09/01/2046		900		800,595
Pima (County of), AZ Industrial Development Authority (Paideia Academies (The));
Series 2019, RB	5.13%	07/01/2039		195		179,545
Series 2019, RB	5.25%	07/01/2049		240		210,651
Pima (County of), AZ Industrial Development Authority (Tuscon Country Day School); Series 2007, Ref. RB	5.00%	06/01/2037		725		621,265
Salt River Project Agricultural Improvement & Power District; Series 2023 B, RB	5.25%	01/01/2053		5,220		5,793,923
Salt Verde Financial Corp.;
Series 2007, RB	5.50%	12/01/2029		100		107,136
Series 2007, RB	5.00%	12/01/2032		3,000		3,181,509
						39,993,820
Arkansas–0.15%
Arkansas (State of) Development Finance Authority (Baptist Memorial Health); Series 2020, Ref. RB	5.00%	09/01/2044		2,000		2,016,263
Cave Springs Municipal Property Owners’ Improvement District No. 3; Series 2007, GO Bonds(g)	6.25%	02/01/2038		1,480		1,480,000
						3,496,263
California–10.25%
Bay Area Toll Authority (San Francisco Bay Area); Series 2019 S-8, Ref. RB(a)(b)	5.00%	10/01/2029		5,000		5,671,817
California (State of);
Series 2016, Ref. GO Bonds	5.00%	09/01/2037		10,085		10,541,832
Series 2018, GO Bonds	5.00%	10/01/2047		13,500		13,852,791
Series 2020, GO Bonds	4.00%	03/01/2050		2,600		2,592,341
Series 2021, Ref. GO Bonds	5.00%	10/01/2041		1,500		1,661,468
Series 2022, GO Bonds	4.00%	04/01/2049		1,325		1,324,195
California (State of) Community Choice Financing Authority (Green Bonds);
Series 2023 C, RB(b)	5.25%	10/01/2031		3,250		3,351,031
Series 2023, RB(b)	5.00%	08/01/2029		5,000		5,204,387
California (State of) County Tobacco Securitization Agency; Series 2006 B, RB(h)	0.00%	06/01/2050		129,820		21,910,747
California (State of) County Tobacco Securitization Agency (Alameda County Tobacco Asset Securitization Corp.); Series 2002, RB	5.88%	06/01/2035		10		10,153
California (State of) County Tobacco Securitization Agency (Fresno County Tobacco Funding Corp.);
Series 2006 A, RB(h)	0.00%	06/01/2046		7,000		1,661,125
Series 2006 B, RB(h)	0.00%	06/01/2046		6,000		1,377,718
California (State of) County Tobacco Securitization Agency (Stanislaus County Tobacco Funding Corp.); Series 2002 A, RB	5.88%	06/01/2043		2,450		2,450,229
California (State of) Health Facilities Financing Authority (Cedars-Sinai Health System); Series 2021, Ref. RB	5.00%	08/15/2051		10,000		10,754,082
California (State of) Health Facilities Financing Authority (Commonspirit Health); Series 2020 A, Ref. RB	4.00%	04/01/2049		1,500		1,409,421
California (State of) Health Facilities Financing Authority (Sutter Health);
Series 2016 B, Ref. RB(a)(b)	5.00%	11/15/2026		4,080		4,354,847
Series 2016 B, Ref. RB	5.00%	11/15/2046		5,920		6,031,308
California (State of) Housing Finance Agency;
Series 2019 A, RB	4.25%	01/15/2035		164		161,091
Series 2019 A-2, RB	4.00%	03/20/2033		7,032		6,995,319
California (State of) Housing Finance Agency (Social Certificates); Series 2023-1, RB	4.38%	09/20/2036		3,489		3,375,512
California (State of) Municipal Finance Authority (CHF-Davis I, LLC - West Village Student Housing); Series 2018, RB (INS - BAM)(c)	5.00%	05/15/2043		4,250		4,365,000
California (State of) Statewide Communities Development Authority (Community Facilities District No. 2007-01); Series 2015, Ref. RB	5.00%	09/01/2030		830		848,647
Cathedral (City of), CA Redevelopment Agency Successor Agency (Merged Redevelopment);
Series 2014 A, Ref. RB (INS - AGM)(c)	5.00%	08/01/2032		1,450		1,465,249
Series 2014 A, Ref. RB (INS - AGM)(c)	5.00%	08/01/2033		885		894,078
Golden State Tobacco Securitization Corp.; Series 2017 A-1, Ref. RB(a)(b)	5.00%	06/01/2027		170		183,180

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

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
California–(continued)
Grossmont-Cuyamaca Community College District (Election of 2012); Series 2018 B, GO Bonds	4.00%	08/01/2047	$	3,165	$	3,172,898
Inland Empire Tobacco Securitization Corp.; Series 2007 F, RB(f)(h)	0.00%	06/01/2057		345,750		19,450,339
Long Beach (City of), CA Bond Finance Authority; Series 2007 A, RB	5.50%	11/15/2037		2,000		2,221,274
Los Angeles (City of), CA Department of Water & Power; Series 2017 A, RB	5.00%	07/01/2042		5,000		5,192,777
Los Angeles Department of Water & Power Water System Revenue; Series 2022, RB(i)	5.00%	07/01/2042		25,000		27,799,830
Los Angeles Unified School District (Sustainability Bonds); Series 2022 QRR, GO Bonds	5.25%	07/01/2047		5,000		5,606,301
M-S-R Energy Authority;
Series 2009 B, RB	7.00%	11/01/2034		10,000		12,454,671
Series 2009 B, RB	6.50%	11/01/2039		9,820		12,076,560
Oak Grove School District (Election of 2008); Series 2018 E, Ref. GO Bonds(j)	5.00%	08/01/2042		4,500		2,538,676
Oxnard (City of), CA Financing Authority;
Series 2014, Ref. RB (INS - AGM)(c)	5.00%	06/01/2032		1,250		1,259,164
Series 2014, Ref. RB (INS - AGM)(c)	5.00%	06/01/2033		1,500		1,510,923
Series 2014, Ref. RB (INS - AGM)(c)	5.00%	06/01/2034		850		856,066
Poway Unified School District Public Financing Authority;
Series 2015 B, Ref. RB (INS - BAM)(c)	5.00%	09/01/2033		1,725		1,786,420
Series 2015 B, Ref. RB (INS - BAM)(c)	5.00%	09/01/2034		3,075		3,179,263
San Diego (County of), CA Regional Airport Authority;
Series 2019 A, Ref. RB	5.00%	07/01/2044		5,000		5,315,327
Series 2021 A, RB (INS - AGM)(c)	5.00%	07/01/2051		15,000		16,030,761
Santa Cruz (County of), CA Redevelopment Successor Agency; Series 2015 A, Ref. RB (INS - AGM)(c)	5.00%	09/01/2035		1,880		1,937,486
Transbay Joint Powers Authority (Green Bonds);
Series 2020 A, RB	5.00%	10/01/2045		1,000		1,013,808
Series 2020 A, RB	5.00%	10/01/2049		1,000		1,006,744
Twin Rivers Unified School District; Series 2020, GO Bonds (INS - AGM)(c)(h)	0.00%	08/01/2044		8,990		3,282,381
						240,139,237
Colorado–3.47%
Aurora (City of), CO (Pipeline/Interceptor); Series 2023, RB	4.00%	08/01/2053		13,285		12,442,016
Berthoud-Heritage Metropolitan District No. 1; Series 2019, RB	5.63%	12/01/2048		2,000		1,903,060
BNC Metropolitan District No. 1; Series 2017 A, Ref. GO Bonds (INS - BAM)(c)	5.00%	12/01/2037		550		580,391
Colorado (State of) Educational & Cultural Facilities Authority (Stargate Charter School); Series 2018 A, Ref. RB	5.00%	12/01/2038		1,000		1,031,418
Colorado (State of) Health Facilities Authority (Adventhealth Obligated Group); Series 2019 A, Ref. RB	4.00%	11/15/2043		2,000		1,906,379
Colorado (State of) Health Facilities Authority (Christian Living Neighborhoods); Series 2016, Ref. RB	5.00%	01/01/2031		1,400		1,377,047
Colorado (State of) Health Facilities Authority (CommonSpirit Health); Series 2022, RB	5.25%	11/01/2052		7,500		7,739,455
Denver (City & County of), CO;
Series 2018 B, Ref. RB	5.00%	12/01/2048		12,500		12,906,729
Series 2022 B, RB	5.25%	11/15/2053		8,000		8,702,902
Series 2022 C, Ref. RB	5.25%	11/15/2053		6,120		6,657,720
E-470 Public Highway Authority; Series 1997 B, RB (INS - NATL)(c)(h)	0.00%	09/01/2025		125		117,645
Ebert Metropolitan District;
Series 2018 A-1, GO Bonds (INS - BAM)(c)	5.00%	12/01/2043		7,000		7,347,742
Series 2018 A-2, GO Bonds (INS - BAM)(c)	5.00%	12/01/2043		1,605		1,684,732
Hunters Overlook Metropolitan District No. 5;
Series 2019 A, GO Bonds	5.00%	12/01/2039		874		829,494
Series 2019 A, GO Bonds	5.00%	12/01/2049		1,360		1,221,930
Hunting Hill Metropolitan District; Series 2018, Ref. GO Bonds	5.63%	12/01/2048		2,071		2,001,532
Powhaton Road Metropolitan District No. 2; Series 2019 A, GO Bonds(a)(b)	5.63%	12/01/2023		710		731,300
Public Authority for Colorado Energy;
Series 2008, RB	6.25%	11/15/2028		1,495		1,586,941
Series 2008, RB	6.50%	11/15/2038		1,920		2,312,534
Rampart Range Metropolitan District No. 1; Series 2017, Ref. RB (INS - AGM)(c)	5.00%	12/01/2047		6,165		6,380,126
Tallyn’s Reach Metropolitan District No. 3;
Series 2013, Ref. GO Bonds(a)(b)(f)	5.00%	12/01/2023		100		100,000
Series 2013, Ref. GO Bonds(a)(b)(f)	5.13%	12/01/2023		250		250,000
Vauxmont Metropolitan District; Series 2020, Ref. GO Bonds (INS - AGM)(c)	5.00%	12/01/2050		1,500		1,555,901
						81,366,994

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

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
Connecticut–0.85%
Connecticut (State of) Health & Educational Facilities Authority; Series 2020 G-1, Ref. RB(f)	5.00%	07/01/2050	$	1,100	$	977,628
Connecticut (State of) Health & Educational Facilities Authority (Fairfield University); Series 2017 R, Ref. RB	4.00%	07/01/2047		6,125		5,671,428
Connecticut (State of) Health & Educational Facilities Authority (Nuvance Health); Series 2019 A, Ref. RB	4.00%	07/01/2049		12,430		10,160,419
Georgetown (City of), CT Special Taxing District; Series 2006 A, GO Bonds(d)(g)	5.13%	10/01/2036		500		60,000
Hamden (Town of), CT; Series 2018 A, Ref. GO Bonds (INS - BAM)(c)	5.00%	08/15/2030		625		669,730
Mashantucket Western Pequot Tribe; Series 2013, RB(d)	6.05%	07/01/2031		11,260		2,505,364
						20,044,569
District of Columbia–3.13%
District of Columbia;
Series 2006 B-1, RB (INS - NATL)(c)	5.00%	02/01/2031		15		15,013
Series 2020 A, RB	4.00%	03/01/2045		4,335		4,258,392
Series 2023 A, RB	5.25%	05/01/2048		5,245		5,815,472
District of Columbia Tobacco Settlement Financing Corp.;
Series 2001, RB	6.75%	05/15/2040		4,260		4,376,357
Series 2006 B, RB(h)	0.00%	06/15/2046		72,125		14,000,191
Metropolitan Washington Airports Authority (Dulles Metrorail and Capital Improvement);
Series 2019 A, Ref. RB	5.00%	10/01/2044		5,000		5,164,142
Series 2019 B, Ref. RB	4.00%	10/01/2049		10,000		8,981,530
Washington (State of) Metropolitan Area Transit Authority; Series 2020 A, RB	4.00%	07/15/2045		25,600		25,164,361
Washington (State of) Metropolitan Area Transit Authority (Sustainability Bonds); Series 2023 A, RB	5.25%	07/15/2053		5,000		5,499,469
						73,274,927
Florida–6.17%
Alachua (County of), FL Health Facilities Authority (Shands Teaching Hospital & Clinics, Inc.); Series 2019, Ref. RB	5.00%	12/01/2037		2,580		2,684,988
Amelia Concourse Community Development District; Series 2007, RB	5.75%	05/01/2038		310		295,680
Arlington Ridge Community Development District; Series 2006 A, RB	5.50%	05/01/2036		125		125,024
Broward (County of), FL; Series 2022 A, RB	4.00%	10/01/2047		5,005		4,992,450
Broward (County of), FL (Convention Center Expansion); Series 2021, RB	4.00%	09/01/2047		17,250		16,427,118
Broward (County of), FL School Board; Series 2022, GO Bonds	5.00%	07/01/2051		10,000		10,760,317
Canaveral Port Authority; Series 2018 B, RB	5.00%	06/01/2048		5,000		5,073,043
Capital Trust Agency, Inc. (Advantage Academy of Hillsborough);
Series 2019 A, RB	5.00%	12/15/2049		455		425,877
Series 2019 A, RB	5.00%	12/15/2054		320		295,490
Capital Trust Agency, Inc. (Florida Charter Educational Foundation, Inc.);
Series 2018 A, RB(f)	5.38%	06/15/2038		255		243,247
Series 2018 A, RB(f)	5.38%	06/15/2048		480		430,956
Chapel Creek Community Development District; Series 2006 A, RB(d)(g)	5.50%	05/01/2038		1,175		787,250
Clearwater Cay Community Development District; Series 2006 A, RB (Acquired 02/16/2010; Cost $539,852)(d)(g)(k)	5.50%	05/01/2037		826		470,787
Creekside Community Development District; Series 2006, RB(d)(g)	5.20%	05/01/2038		2,280		1,071,600
Greater Orlando Aviation Authority; Series 2015 XF2019, Revenue Ctfs.(i)	5.00%	10/01/2032		9,385		9,390,681
Highland Meadows Community Development District; Series 2006 A, RB	5.50%	05/01/2036		80		80,020
Indigo Community Development District; Series 2005, RB(g)	5.75%	05/01/2036		218		156,935
Jacksonville (City of), FL Health Facilities Authority; Series 1997 B, RB(a)	5.25%	08/15/2027		15		15,208
Lake (County of), FL (Imagine South Lake Charter School Program); Series 2019, RB(f)	5.00%	01/15/2054		190		164,604
Lake Helen (City of), FL (Ivy Hawn Charter School of the Arts);
Series 2018 A, RB(f)	5.50%	07/15/2048		565		495,099
Series 2018 A, RB(f)	5.75%	07/15/2053		600		551,417
Lakeland (City of), FL (Lakeland Regional Health); Series 2015, RB	5.00%	11/15/2040		5,000		5,009,375
Lucaya Community Development District; Series 2005, RB	5.38%	05/01/2035		1,030		1,030,289
Magnolia Creek Community Development District; Series 2007 A, RB(d)(g)	5.90%	05/01/2039		195		99,600
Magnolia West Community Development District; Series 2017, RB	5.35%	05/01/2037		70		70,415
Manatee (County of), FL; Series 2023, Ref. RB	4.00%	10/01/2048		5,000		4,850,403

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

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
Florida–(continued)
Miami-Dade (County of), FL;
Series 2009, RB (INS - BAM)(c)(h)	0.00%	10/01/2042	$	6,925	$	2,951,587
Series 2019 B, RB	4.00%	10/01/2049		17,745		16,946,580
Series 2021, RB	4.00%	10/01/2051		5,000		4,742,791
Miami-Dade (County of), FL Transit System;
Series 2020 A, RB	4.00%	07/01/2048		12,185		11,835,024
Series 2020 A, RB	4.00%	07/01/2050		5,000		4,815,836
Miromar Lakes Community Development District; Series 2015, Ref. RB	5.00%	05/01/2035		1,195		1,195,157
Naturewalk Community Development District; Series 2007 A, RB(d)(g)	5.50%	05/01/2038		335		107,200
Orange (County of), FL Health Facilities Authority (Orlando Health Obligated Group); Series 2022, RB	4.00%	10/01/2052		10,000		9,298,151
Orlando (City of), FL Utilities Commission; Series 2018 A, RB	5.00%	10/01/2038		3,000		3,176,100
Osceola (County of), FL; Series 2020 A-1, Ref. RB	5.00%	10/01/2049		2,055		2,025,505
Palace Coral Gables Community Development District;
Series 2011, RB	5.00%	05/01/2032		385		385,266
Series 2011, RB	5.63%	05/01/2042		1,000		1,000,706
Polk (County of), FL Industrial Development Authority (Carpenter’s Home Estates); Series 2019, Ref. IDR	5.00%	01/01/2049		750		634,523
Reunion East Community Development District;
Series 2002 A-2, RB(d)(g)	7.38%	05/01/2033		860		9
Series 2005, RB(d)(g)	5.80%	05/01/2036		810		8
Ridgewood Trails Community Development District; Series 2007 A, RB	5.65%	05/01/2038		15		15,004
South Bay Community Development District;
Series 2005 A, RB(d)(g)	5.95%	05/01/2036		1,645		16
Series 2005 A-1, Ref. RB	5.95%	05/01/2036		1,620		1,607,925
Series 2005 A-2, Ref. RB(d)(g)	6.60%	05/01/2036		1,095		547,500
Series 2005 B-2, Ref. RB(d)(g)	6.60%	05/01/2025		935		467,501
Tampa (City of), FL;
Series 2020 A, RB(h)	0.00%	09/01/2033		210		135,365
Series 2020 A, RB(h)	0.00%	09/01/2034		880		538,925
Series 2020 A, RB(h)	0.00%	09/01/2035		750		434,008
Series 2020 A, RB(h)	0.00%	09/01/2036		850		459,879
Series 2020 A, RB(h)	0.00%	09/01/2037		825		415,313
Series 2020 A, RB(h)	0.00%	09/01/2038		1,050		492,361
Series 2020 A, RB(h)	0.00%	09/01/2039		1,000		438,499
Villages of Avignon Community Development District (The); Series 2007 A, RB(d)(g)	5.40%	05/01/2037		250		12,500
Vista Community Development District; Series 2006 A, RB	5.38%	05/01/2037		3,400		3,400,299
Waterford Estates Community Development District; Series 2006 A, RB	5.50%	05/01/2037		1,595		1,596,593
Waterstone Community Development District;
Series 2007 A, RB(g)(j)	6.88%	05/01/2037		146		95,271
Series 2007 B, RB(g)(h)	0.00%	11/01/2028		793		501,582
West Villages Improvement District;
Series 2005 A-1, RB	5.75%	05/01/2036		2,770		2,771,407
Series 2005 A-2, RB(d)(g)	5.75%	05/01/2036		2,925		1,696,500
Westridge Community Development District; Series 2005, RB	5.80%	05/01/2037		390		390,075
Westside Community Development District; Series 2019-2, RB	5.65%	05/01/2037		525		345,369
Wildwood (City of), FL Village Community Development Disctrict No. 15;
Series 2023, RB(f)	5.00%	05/01/2043		1,500		1,492,001
Series 2023, RB(f)	5.25%	05/01/2054		1,000		996,934
Zephyr Ridge Community Development District; Series 2006 A, RB(d)(g)	5.63%	05/01/2037		979		489,330
						144,452,473
Georgia–2.48%
Atlanta (City of), GA Department of Aviation (Green Bonds); Series 2023 B-1, RB	5.00%	07/01/2053		6,750		7,244,440
Atlanta (City of), GA Urban Residential Finance Authority (Trestletree Village Apartments); Series 2013 A, RB	5.00%	11/01/2048		490		357,494
Brookhaven (City of), GA Urban Redevelopment Agency; Series 2023 A, RB	4.00%	07/01/2053		5,000		4,899,290
Columbia (City of), GA (Wellstar Health System, Inc.); Series 2023, RAC	5.13%	04/01/2048		5,500		5,848,972

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

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
Georgia–(continued)
Floyd (County of), GA Development Authority (The Spires at Berry College);
Series 2018 A, RB	5.75%	12/01/2033	$	1,155	$	1,119,210
Series 2018 A, RB	6.00%	12/01/2038		2,260		2,169,464
Series 2018 A, RB	6.25%	12/01/2048		5,565		5,224,817
Series 2018 A, RB	6.50%	12/01/2053		3,205		3,066,853
Fulton (County of), GA Development Authority (Piedmont Healthcare, Inc.);
Series 2016 A, Ref. RB	5.00%	07/01/2046		3,000		3,036,464
Series 2019, RB	4.00%	07/01/2049		11,150		10,222,876
Main Street Natural Gas, Inc.;
Series 2019 A, RB	5.00%	05/15/2043		1,040		1,054,561
Series 2023 B, RB(b)	5.00%	03/01/2030		5,000		5,212,214
Series 2023 C, RB(b)	5.00%	09/01/2030		5,000		5,225,803
Oconee (County of), GA Industrial Development Authority (Presbyterian Village Athens);
Series 2018 A-1, RB	6.13%	12/01/2038		880		785,226
Series 2018 A-1, RB	6.25%	12/01/2048		1,230		1,038,174
Series 2018 A-1, RB	6.38%	12/01/2053		1,030		866,968
Series 2018 A-2, RB(b)	5.50%	12/01/2028		690		625,666
						57,998,492
Guam–0.17%
Guam (Territory of); Series 2015 D, Ref. RB	5.00%	11/15/2039		2,500		2,500,101
Guam (Territory of) Waterworks Authority; Series 2020 A, RB	5.00%	01/01/2050		1,500		1,509,296
						4,009,397
Illinois–6.72%
Chicago (City of), IL; Series 2012, RB (INS - BAM)(c)	4.00%	01/01/2042		1,200		1,187,504
Chicago (City of), IL (O’Hare International Airport);
Series 2015 B, Ref. RB	5.00%	01/01/2034		2,500		2,530,781
Series 2017 D, RB	5.00%	01/01/2052		3,000		3,037,735
Series 2018 B, RB	5.00%	01/01/2053		10,000		10,188,708
Series 2020 A, Ref. RB	4.00%	01/01/2036		5,000		5,119,723
Chicago (City of), IL Board of Education;
Series 1998 B-1, GO Bonds (INS - NATL)(c)(h)	0.00%	12/01/2024		915		878,367
Series 1999 A, GO Bonds (INS - NATL)(c)(h)	0.00%	12/01/2024		1,405		1,348,750
Series 2016, RB	6.00%	04/01/2046		4,300		4,437,028
Series 2018 A, Ref. GO Bonds (INS - AGM)(c)	5.00%	12/01/2026		775		802,261
Series 2018 A, Ref. GO Bonds (INS - AGM)(c)	5.00%	12/01/2028		2,250		2,368,447
Series 2018 A, Ref. GO Bonds (INS - AGM)(c)	5.00%	12/01/2031		1,000		1,040,170
Series 2018 A, Ref. GO Bonds (INS - AGM)(c)	5.00%	12/01/2034		1,205		1,247,517
Series 2022 A, GO Bonds	5.00%	12/01/2047		3,200		3,059,596
Chicago (City of), IL Transit Authority;
Series 2020 A, Ref. RB	5.00%	12/01/2045		20		20,601
Series 2020 A, Ref. RB	5.00%	12/01/2055		2,140		2,178,963
Cook (County of), IL; Series 2021 A, Ref. RB	4.00%	11/15/2041		3,500		3,408,683
Cook County Community School District No. 147; Series 2004 A, Ref. GO Bonds (INS - BAM)(c)	7.13%	06/01/2024		385		386,210
Du Page (County of), IL Special Service Area No. 31 (Monarch Landing, Inc.); Series 2006, RB	5.63%	03/01/2036		287		282,228
Gilberts (Village of), IL; Series 2014, Ref. RB (INS - AGM)(c)	5.00%	03/01/2035		2,000		2,004,517
Gilberts (Village of), IL Special Service Area No. 24 (The Conservancy); Subseries 2014 A, RB	5.38%	03/01/2034		656		615,286
Harvey (City of), IL;
Series 2008, RB	6.88%	08/01/2028		2,310		2,125,686
Series 2023 A, GO Bonds	4.50%	01/01/2054		3,585		2,785,378

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

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
Illinois–(continued)
Illinois (State of);
Series 2014, GO Bonds	5.00%	04/01/2025		$      2,000	$	2,002,153
Series 2014, GO Bonds	5.00%	02/01/2039		1,525		1,524,979
Series 2017 C, GO Bonds	5.00%	11/01/2029		3,000		3,153,344
Series 2018 A, GO Bonds	5.00%	05/01/2036		2,610		2,721,403
Series 2018 A, Ref. GO Bonds	5.00%	10/01/2029		6,500		6,919,017
Series 2018 A, Ref. GO Bonds	5.00%	10/01/2032		3,000		3,170,986
Series 2018 A, Ref. GO Bonds	5.00%	10/01/2033		750		790,881
Series 2018 B, Ref. GO Bonds	5.00%	10/01/2029		5,000		5,322,321
Series 2020, GO Bonds	5.50%	05/01/2039		3,750		4,099,541
Illinois (State of) Finance Authority (University of Illinois Health Services); Series 2020, RB	4.00%	10/01/2040		3,950		3,573,053
Illinois (State of) Metropolitan Pier & Exposition Authority (McCormick Place Expansion); Series 1998 A, RB (INS - AGM)(c)	5.50%	12/15/2023		200		200,123
Illinois (State of) Regional Transportation Authority;
Series 2018 B, RB	4.00%	06/01/2043		1,365		1,358,854
Series 2018 XF2618, Revenue Ctfs.(i)	4.00%	06/01/2043		18,000		17,918,960
Illinois (State of) Sports Facilities Authority;
Series 2014, Ref. RB (INS - AGM)(c)	5.25%	06/15/2032		2,000		2,007,335
Series 2019, Ref. RB (INS - BAM)(c)	5.00%	06/15/2028		2,520		2,642,907
Series 2019, Ref. RB (INS - BAM)(c)	5.00%	06/15/2029		1,455		1,538,830
Series 2019, Ref. RB (INS - BAM)(c)	5.00%	06/15/2030		245		258,588
Illinois (State of) Toll Highway Authority;
Series 2020 A, RB	5.00%	01/01/2045		21,090		22,431,349
Series 2021 A, RB	4.00%	01/01/2046		7,785		7,447,363
Jefferson County Township High School District No. 201;
Series 2012 A, GO Bonds	6.50%	12/30/2027		895		1,007,873
Series 2012 A, GO Bonds	6.50%	12/30/2028		955		1,100,743
Series 2012 A, GO Bonds	6.50%	12/30/2031		1,160		1,408,950
Lincolnshire (Village of), IL (Sedgewick); Series 2004, RB	6.25%	03/01/2034		1,859		1,860,224
Northern Illinois Municipal Power Agency; Series 2016 A, Ref. RB	4.00%	12/01/2041		1,050		1,011,934
Plano (City of), IL Special Service Area No. 5 (Lakewood Springs Club); Series 2006, RB	6.00%	03/01/2036		365		342,236
Sales Tax Securitization Corp.; Series 2018 C, Ref. RB (INS - BAM)(c)	5.25%	01/01/2048		5,000		5,193,730
Southwestern Illinois Development Authority; Series 2006, RB(d)	5.63%	11/01/2026		890		667,500
Stephenson County School District No. 145 Freeport;
Series 2018 A, GO Bonds(a)(b)	5.00%	02/01/2028		210		226,619
Series 2018 A, GO Bonds(a)(b)	5.00%	02/01/2028		135		145,684
Series 2018 A, GO Bonds(a)(b)	5.00%	02/01/2028		160		172,662
Series 2018 A, GO Bonds (INS - AGM)(c)	5.00%	02/01/2032		945		1,018,048
Series 2018 A, GO Bonds (INS - AGM)(c)	5.00%	02/01/2033		690		740,745
Series 2018 A, GO Bonds (INS - AGM)(c)	5.00%	02/01/2034		615		658,928
Yorkville (United City of), IL (United City Special Services Area); Series 2013, Ref. RB	5.00%	03/01/2033		1,848		1,757,945
						157,449,947
Indiana–0.52%
Columbus (City of), IN (Vivera Senior Living); Series 2019, RB	5.63%	05/01/2039		3,555		2,876,525
Indiana (State of) Finance Authority (Good Samaritan Hospital); Series 2016 A, RB	5.50%	04/01/2026		1,620		1,658,906
Indiana (State of) Municipal Power Agency; Series 2016 A, Ref. RB	5.00%	01/01/2037		7,500		7,730,512
						12,265,943
Iowa–0.94%
Iowa (State of) Finance Authority; Series 2007, RB(d)	5.90%	12/01/2028		400		440
Iowa (State of) Finance Authority (Alcoa, Inc.); Series 2012, RB	4.75%	08/01/2042		5,000		4,779,029
Iowa (State of) Finance Authority (Iowa Fertilizer Co.); Series 2022, Ref. RB(b)	5.00%	12/01/2042		7,785		7,790,546
Iowa (State of) Finance Authority (Mercy Medical Center); Series 2012, RB	5.00%	08/15/2028		1,685		1,686,056
Iowa (State of) Finance Authority (Unitypoint Health); Series 2018 B, Ref. RB	5.00%	02/15/2048		1,300		1,322,622
Iowa (State of) Finance Authority (Wedum Walnut Ridge LLC); Series 2007 B, RB	5.38%	06/01/2025		75		74,018
PEFA, Inc.; Series 2019, RB(b)	5.00%	09/01/2026		5,190		5,266,098
Xenia (City of), IA Rural Water District; Series 2016, Ref. RB(a)(b)	5.00%	12/01/2026		1,000		1,061,649
						21,980,458

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

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
Kentucky–2.15%
Kentucky (Commonwealth of) Municipal Power Agency (Prairie State);
Series 2016 A, Ref. RB (INS - NATL)(c)	5.00%	09/01/2032	$	5,480	$	5,664,759
Series 2016 A, Ref. RB (INS - NATL)(c)	5.00%	09/01/2033		11,525		11,871,074
Series 2016 A, Ref. RB (INS - NATL)(c)	5.00%	09/01/2034		5,000		5,125,249
Kentucky (Commonwealth of) Property & Building Commission (No. 115);
Series 2017, RB	5.00%	04/01/2037		2,500		2,612,366
Series 2017, RB (INS - BAM)(c)	5.00%	04/01/2038		2,500		2,600,619
Kentucky (Commonwealth of) Property & Building Commission (No. 119);
Series 2018, RB	5.00%	05/01/2035		1,500		1,599,511
Series 2018, RB	5.00%	05/01/2036		1,170		1,244,461
Series 2018, RB	5.00%	05/01/2037		4,605		4,869,893
Kentucky (Commonwealth of) Public Energy Authority; Series 2022 A-1, RB(b)	4.00%	08/01/2030		15,000		14,693,749
						50,281,681
Louisiana–1.59%
Denham Springs (City of) & Livingston (Parish of), LA Housing & Mortgage Finance Authority; Series 2007, RB (CEP - GNMA)	5.00%	11/01/2040		3		3,235
Louisiana (State of) Public Facilities Authority (19th Judicial District Court Building); Series 2015, Ref. RB(a)(b)	5.00%	06/01/2025		2,500		2,569,477
Louisiana (State of) Public Facilities Authority (Archdiocese of New Orleans);
Series 2017, Ref. RB	5.00%	07/01/2032		395		335,750
Series 2017, Ref. RB	5.00%	07/01/2033		300		255,000
Series 2017, Ref. RB	5.00%	07/01/2037		345		293,250
Louisiana (State of) Public Facilities Authority (Ochsner Clinic Foundation); Series 2017, Ref. RB	5.00%	05/15/2046		7,500		7,591,488
Louisiana Stadium & Exposition District; Series 2023 A, Ref. RB	5.25%	07/01/2053		15,000		16,092,375
Louisiana State University & Agricultural & Mechanical College Board of Supervisors; Series 2016 A, Ref. RB(a)(b)	5.00%	07/01/2026		4,035		4,248,167
New Orleans (City of), LA Aviation Board (Parking Facilities Corp. Consolidated Garage System);
Series 2018 A, RB (INS - AGM)(c)	5.00%	10/01/2043		700		723,942
Series 2018 A, RB (INS - AGM)(c)	5.00%	10/01/2048		1,280		1,315,605
St. John the Baptist (Parish of), LA (Marathon Oil Corp.);
Series 2017, Ref. RB(b)	2.13%	07/01/2024		2,000		1,965,565
Subseries 2017 A-3, Ref. RB(b)	2.20%	07/01/2026		2,000		1,900,491
						37,294,345
Maryland–0.55%
Anne Arundel (County of), MD; Series 2023, GO Bonds	4.00%	10/01/2052		5,000		4,869,648
Gaithersburg (City of), MD (Asbury Maryland Obligated Group); Series 2018 A, Ref. RB	5.00%	01/01/2036		1,500		1,471,968
Maryland (State of) Health & Higher Educational Facilities Authority;
Series 2001, RB (INS - AMBAC)(c)	5.00%	07/01/2034		5		5,034
Series 2016, Ref. RB	5.00%	06/01/2036		400		406,818
Maryland Economic Development Corp. (University of Maryland College Park); Series 2016, Ref. RB (INS - AGM)(c)	5.00%	06/01/2035		4,530		4,685,100
Prince George’s (County of), MD (Victoria Falls); Series 2005, RB	5.25%	07/01/2035		1,490		1,490,887
						12,929,455
Massachusetts–1.51%
Massachusetts (Commonwealth of); Series 2016-XF0530, Ctfs. Of Obligation(i)	5.00%	12/01/2035		20,000		20,975,464
Massachusetts (Commonwealth of) Development Finance Agency;
Series 2016 I, Ref. RB	5.00%	07/01/2036		2,000		2,048,212
Series 2019 A, Ref. RB	4.00%	07/01/2044		3,000		2,587,312
Massachusetts (Commonwealth of) Transportation Fund (Rail Enhancement Program); Series 2021 A, RB(i)	4.00%	06/01/2050		10,000		9,732,095
						35,343,083
Michigan–3.05%
Detroit (City of), MI; Series 2003 B-R, RB (INS - AGM)(c)	7.50%	07/01/2033		60		60,181
Detroit (City of), MI Downtown Development Authority (Catalyst Development);
Series 2018 A, Ref. RB (INS - AGM)(c)	5.00%	07/01/2043		150		150,351
Series 2018 A, Ref. RB (INS - AGM)(c)	5.00%	07/01/2048		1,350		1,351,943

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

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
Michigan–(continued)
Michigan (State of);
Series 2020 B, RB	4.00%	11/15/2045	$	10,000	$	9,996,842
Series 2021, RB	4.00%	11/15/2046		6,000		5,943,562
Michigan (State of) Finance Authority;
Series 2005 A, RB	6.00%	12/01/2035		1,155		1,080,050
Series 2008 C, RB(h)	0.00%	06/01/2058		289,275		14,557,215
Series 2014, Ref. RB(a)(b)(f)	6.75%	07/01/2024		1,945		1,983,666
Series 2014, Ref. RB(f)	6.75%	07/01/2044		4,055		3,738,319
Michigan (State of) Finance Authority (Detroit Water & Sewerage Department);
Series 2014 C-6, Ref. RB	5.00%	07/01/2033		1,000		1,004,485
Series 2014 D-4, Ref. RB	5.00%	07/01/2032		2,450		2,462,512
Series 2014 D-4, Ref. RB	5.00%	07/01/2034		1,000		1,003,919
Series 2014 D-6, Ref. RB (INS - NATL)(c)	5.00%	07/01/2025		1,000		1,008,341
Series 2014 D-6, Ref. RB (INS - NATL)(c)	5.00%	07/01/2026		895		902,467
Series 2014 D-6, Ref. RB (INS - NATL)(c)	5.00%	07/01/2027		930		937,177
Series 2015 C, RB	5.00%	07/01/2034		2,200		2,229,760
Michigan (State of) Finance Authority (Old Redforf Academy); Series 2010 A, RB	5.90%	12/01/2030		455		442,333
Michigan (State of) Finance Authority (Universal Learning Academy); Series 2018, Ref. RB	5.75%	11/01/2040		635		609,132
Michigan (State of) Strategic Fund (Wolverine Human Services); Series 2007, RB(d)	5.85%	08/31/2027		6,074		5,467,503
Plymouth Educational Center Charter School;
Series 2005, Ref. RB(g)	5.38%	11/01/2030		400		244,000
Series 2005, Ref. RB(g)	5.63%	11/01/2035		1,325		808,250
Renaissance Public School Academy; Series 2012 A, RB	6.00%	05/01/2037		500		499,993
Walled Lake Consolidated School District;
Series 2019, GO Bonds	4.00%	05/01/2039		600		605,846
Series 2019, GO Bonds	4.00%	05/01/2040		1,220		1,230,212
Series 2019, GO Bonds	4.00%	05/01/2041		2,485		2,506,288
Wayne (County of), MI Airport Authority (Detroit Metropolitan Wayne County Airport); Series 2021 A, RB	5.00%	12/01/2046		10,000		10,653,962
						71,478,309
Minnesota–0.19%
Bethel (City of), MN (Benedictine Health System - St. Peter Communities); Series 2018 A, Ref. RB	5.50%	12/01/2048		1,050		832,222
Duluth (City of), MN Economic Development Authority (Essentia Health Obligated Group); Series 2018 A, Ref. RB	5.00%	02/15/2043		2,300		2,334,504
Minnesota (State of) Higher Education Facilities Authority (Trustees of the Hamline University of Minnesota); Series 2017, Ref. RB	5.00%	10/01/2047		900		893,450
Mound (City of), MN Housing & Redevelopment Authority; Series 2006, Ref. RB	5.00%	02/15/2027		335		327,824
						4,388,000
Mississippi–0.48%
Mississippi (State of) Development Bank; Series 2016, RB (CEP - Colorado Higher Education Intercept Program)	5.00%	12/01/2046		10,000		10,254,887
Mississippi Business Finance Corp. (System Energy Resources, Inc.); Series 2021, RB	2.38%	06/01/2044		1,795		1,056,496
						11,311,383
Missouri–0.98%
Branson (City of), MO Industrial Development Authority (Branson Hills Redevelopment);
Series 2005 A, RB(g)	7.05%	05/01/2027		60		51,786
Series 2007 A, RB(g)	5.75%	05/01/2026		630		555,895
Broadway-Fairview Transportation Development District; Series 2006 A, RB(g)	5.88%	12/01/2031		675		209,250
Chillicothe (City of), MO (South U.S. 65); Series 2006, RB	5.63%	04/01/2027		400		390,806
Columbia (City of), MO Housing Authority (Stuart Park/Paquin Tower Apartments);
Series 2015, RB	5.00%	12/15/2040		580		522,074
Series 2015, RB	5.13%	12/15/2050		1,330		1,139,001
Grindstone Plaza Transportation Development District; Series 2006 A, RB	5.50%	10/01/2031		355		351,639
Hollister (City of), MO; Series 2019, RB(f)	5.63%	10/01/2039		4,305		3,896,001
Kansas City (City of), MO Industrial Development Authority (Ward Parkway Center Community Improvement District); Series 2016 A, Ref. RB(f)	5.00%	04/01/2046		295		255,361
Lee’s Summit (City of), MO Industrial Development Authority; Series 2007, RB(d)(g)	5.75%	03/01/2029		250		145,000

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

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
Missouri–(continued)
Maplewood (City of), MO (Maplewood South Redevelopment Area); Series 2005, Ref. RB	5.75%	11/01/2026	$	855	$	833,356
Missouri (State of) Health & Educational Facilities Authority (SSM Health); Series 2018 A, RB	5.00%	06/01/2048		7,500		7,643,047
Northwoods Transportation Development District; Series 2006 A, RB	5.85%	02/01/2031		50		43,800
St. Charles (County of), MO Industrial Development Authority (Suemandy/Mid-Rivers Community Improvement District); Series 2016, RB(f)	5.00%	10/01/2046		1,025		839,103
St. Louis (City of), MO (Abbey Condominiums);
Series 2006 A, RB(e)(g)	6.00%	08/04/2025		481		28,860
Series 2007, RB(g)	5.50%	05/29/2028		661		198,305
St. Louis (City of), MO Land Clearance for Redevelopment Authority (Scottrade Center); Series 2018 A, RB	5.00%	04/01/2048		3,250		3,282,327
St. Louis (County of), MO; Series 2007 A, RB(g)	5.50%	09/02/2028		373		108,170
St. Louis (County of), MO (Ludwig Lofts); Series 2008, RB(e)(g)	6.69%	04/21/2029		1,080		183,600
St. Louis (County of), MO (Printers Lofts Tax Increment Financing); Series 2006, RB(e)(g)	6.00%	08/21/2026		545		54,500
St. Louis (County of), MO (Washington Park Redevelopment);
Series 2006, RB(e)(g)	6.00%	08/21/2026		846		101,520
Series 2006, RB(g)	5.50%	03/09/2027		1,879		507,330
Series 2007 A, RB(g)	5.50%	01/20/2028		712		270,560
Series 2007 B, RB(e)(g)	5.50%	01/20/2028		466		23,300
Series 2008 A, RB(g)	6.60%	01/21/2028		3,254		1,301,600
Stone Canyon Community Improvement District (Infrastructure Improvement); Series 2007, RB(d)(g)	5.75%	04/01/2027		320		28,800
						22,964,991
Montana–0.12%
Hardin (City of), MT; Series 2006, RB(e)(g)	6.25%	09/01/2031		11,710		2,810,400
Nebraska–0.75%
Central Plains Energy Project (No. 3); Series 2017 A, Ref. RB	5.00%	09/01/2035		6,150		6,570,534
Central Plains Energy Project (No. 5); Series 2022-1, RB(b)	5.00%	10/01/2029		5,000		5,147,646
Omaha (City of), NE Public Power District; Series 2021 A, RB (INS - AGM)(c)	4.00%	02/01/2051		6,000		5,844,173
						17,562,353
Nevada–0.57%
Clark (County of), NV (Special Improvement District No. 128);
Series 2007 A, RB	5.00%	02/01/2026		190		190,209
Series 2007 A, RB	5.05%	02/01/2031		245		245,157
Clark (County of), NV (Stadium Improvement Bonds); Series 2018 A, GO Bonds	5.00%	05/01/2048		2,500		2,582,345
Clark County School District; Series 2018 B, GO Bonds (INS - BAM)(c)	5.00%	06/15/2036		5,280		5,675,292
Las Vegas Valley Water District; Series 2022 A, GO Bonds	4.00%	06/01/2051		5,000		4,786,920
						13,479,923
New Hampshire–0.56%
Manchester Housing & Redevelopment Authority, Inc.; Series 2000 B, RB (INS - BAM)(c)(h)	0.00%	01/01/2029		305		231,713
New Hampshire (State of) Business Finance Authority; Series 2020-1A, RB	4.13%	01/20/2034		7,259		6,991,155
New Hampshire (State of) Business Finance Authority (Social Bonds); Series 2022-2A, RB	4.00%	10/20/2036		5,012		4,755,316
New Hampshire (State of) Business Finance Authority (Vista (The));
Series 2019 A, RB(f)	5.25%	07/01/2039		410		363,184
Series 2019 A, RB(f)	5.63%	07/01/2046		230		202,388
Series 2019 A, RB(f)	5.75%	07/01/2054		570		496,614
						13,040,370
New Jersey–7.41%
Atlantic City (City of), NJ;
Series 2017 A, Ref. GO Bonds (INS - BAM)(c)	5.00%	03/01/2032		250		262,871
Series 2017 A, Ref. GO Bonds (INS - BAM)(c)	5.00%	03/01/2037		500		517,271
Casino Reinvestment Development Authority, Inc.;
Series 2014, Ref. RB (INS - AGM)(c)	5.00%	11/01/2030		2,000		2,030,057
Series 2014, Ref. RB (INS - AGM)(c)	5.00%	11/01/2032		2,000		2,026,478
Hudson County Improvement Authority (Hudson County Courthouse); Series 2020, RB	4.00%	10/01/2046		10,000		9,780,479
New Jersey (State of); Series 2020 A, GO Bonds	4.00%	06/01/2032		6,380		6,821,207

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

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
New Jersey–(continued)
New Jersey (State of) Economic Development Authority;
Series 2016 AAA, RB(a)(b)	5.00%	12/15/2026	$	3,000	$	3,196,221
Series 2017 DDD, RB	5.00%	06/15/2028		1,930		2,050,476
Series 2017 DDD, RB	5.00%	06/15/2029		3,500		3,716,957
Series 2018 A, RB	5.00%	06/15/2042		3,500		3,633,289
Series 2018 A, RB	5.00%	06/15/2047		735		753,516
Series 2018 C, RB	5.00%	06/15/2031		4,855		5,184,833
New Jersey (State of) Economic Development Authority (Golden Door Charter School); Series 2018 A, RB(f)	6.50%	11/01/2052		220		227,429
New Jersey (State of) Economic Development Authority (Newark Downtown District Management Corp.); Series 2019, Ref. RB	5.13%	06/15/2037		863		925,005
New Jersey (State of) Health Care Facilities Financing Authority; Series 2015 A, RB (INS - AGM)(c)	5.00%	07/01/2029		2,100		2,145,140
New Jersey (State of) Transportation Trust Fund Authority;
Series 2004 A, RB (INS - NATL)(c)	5.75%	06/15/2024		11,570		11,710,917
Series 2008 A, RB(h)	0.00%	12/15/2038		5,680		2,955,510
Series 2009 D, RB	5.00%	06/15/2032		5,015		5,060,277
Series 2016 A-1, RN	5.00%	06/15/2030		6,000		6,252,295
Series 2018 A, Ref. RN	5.00%	06/15/2029		6,660		6,943,940
Series 2018 A, Ref. RN	5.00%	06/15/2030		945		984,736
Series 2018 A, Ref. RN	5.00%	06/15/2031		880		916,240
Series 2019 BB, RB	4.00%	06/15/2050		7,125		6,618,062
Series 2020 AA, RB	4.00%	06/15/2050		10,200		9,474,278
Series 2022 BB, RB	4.00%	06/15/2046		1,585		1,490,511
New Jersey (State of) Turnpike Authority;
Series 2015 E, RB	5.00%	01/01/2034		7,000		7,109,786
Series 2021 A, RB	4.00%	01/01/2042		2,000		2,004,080
Series 2021 A, RB	4.00%	01/01/2051		10,000		9,711,007
Tobacco Settlement Financing Corp.;
Series 2018 A, Ref. RB	5.00%	06/01/2029		3,500		3,682,256
Series 2018 A, Ref. RB	5.00%	06/01/2030		12,030		12,625,606
Series 2018 A, Ref. RB	5.00%	06/01/2031		4,500		4,721,489
Series 2018 A, Ref. RB	5.00%	06/01/2032		12,980		13,616,032
Series 2018 A, Ref. RB	5.00%	06/01/2033		5,005		5,246,635
Series 2018 A, Ref. RB	5.00%	06/01/2037		3,000		3,098,513
Series 2018 A, Ref. RB	5.25%	06/01/2046		6,000		6,120,041
Series 2018 B, Ref. RB	5.00%	06/01/2046		10,000		10,027,848
						173,641,288
New Mexico–0.08%
Boulders Public Improvement District; Series 2015, RB	5.75%	10/01/2044		230		209,467
Trails Public Improvement District; Series 2008, RB	7.75%	10/01/2038		1,775		1,744,326
						1,953,793
New York–9.29%
Hudson Yards Infrastructure Corp.;
Series 2017 XF0549, Revenue Ctfs.(i)	5.00%	02/15/2037		8,500		8,840,626
Series 2017 XF0549, Revenue Ctfs.(i)	5.00%	02/15/2039		7,500		7,778,164
Metropolitan Transportation Authority (Green Bonds);
Series 2016 A-1, RB	5.25%	11/15/2056		14,375		14,507,625
Series 2017 A-1, RB	5.25%	11/15/2057		3,500		3,555,552
Series 2019 A, RB	5.00%	11/15/2045		10,065		10,291,170
New York & New Jersey (States of) Port Authority; One Hundred Ninety Fourth Series 2015, Ref. RB	5.25%	10/15/2055		10,000		10,156,591
New York (City of), NY; Series 2022 A, GO Bonds	5.25%	09/01/2043		10,000		11,128,304
New York (City of), NY Municipal Water Finance Authority; Series 2018 EE, Ref. RB	5.00%	06/15/2040		10,160		10,738,016
New York (City of), NY Transitional Finance Authority;
Series 2019 A-3, RB	4.00%	05/01/2041		10,000		9,989,275
Series 2022 C-1, RB	4.00%	02/01/2051		4,000		3,864,505
Series 2022, RB	4.00%	02/01/2043		5,000		4,942,084

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

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
New York–(continued)
New York (State of) Dormitory Authority;
Series 2015 B, RB	5.00%	03/15/2033	$	10,000	$	10,276,418
Series 2015 B, Ref. RB(a)(b)	5.00%	07/01/2025		2,650		2,732,243
Series 2018 A, Ref. RB	5.00%	03/15/2034		5,020		5,241,324
Series 2020 D, Ref. RB	4.00%	02/15/2047		14,300		13,893,289
New York (State of) Power Authority (Green Bonds);
Series 2020 A, Ref. RB	4.00%	11/15/2045		7,000		6,927,145
Series 2020 A, Ref. RB	4.00%	11/15/2055		5,000		4,817,867
New York (State of) Thruway Authority;
Series 2019 B, RB	4.00%	01/01/2050		5,000		4,607,694
Series 2019 B, RB	4.00%	01/01/2053		5,000		4,556,457
New York (State of) Thruway Authority (Green Bonds) (Bidding Group 1); Series 2022 C, RB	5.00%	03/15/2053		7,000		7,482,432
New York (State of) Thruway Authority (Group 2); Series 2021 O, Ref. RB	4.00%	01/01/2046		5,000		4,887,749
New York City Housing Development Corp. (Sustainable Development Bonds); Series 2023, RB	4.80%	02/01/2053		12,000		12,263,231
New York Counties Tobacco Trust II; Series 2001, RB	5.75%	06/01/2043		65		66,203
New York Counties Tobacco Trust VI; Series 2016 A-1, Ref. RB	5.75%	06/01/2043		285		291,106
New York State Urban Development Corp.;
Series 2020 A, RB	4.00%	03/15/2045		14,130		13,857,396
Series 2020 A, RB	4.00%	03/15/2049		10,000		9,740,994
New York Transportation Development Corp. (Terminal 4 JFK International Airport);
Series 2020 C, Ref. RB	5.00%	12/01/2036		2,205		2,331,753
Series 2020, Ref. RB	5.00%	12/01/2035		2,305		2,459,561
Triborough Bridge & Tunnel Authority; Series 2022 A, Ref. RB	5.00%	05/15/2057		2,500		2,646,722
Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels); Series 2022 A, RB	5.25%	05/15/2057		5,000		5,419,801
TSASC, Inc.;
Series 2016 B, Ref. RB	5.00%	06/01/2045		5,450		4,838,681
Series 2017 A, Ref. RB	5.00%	06/01/2036		2,455		2,507,823
						217,637,801
North Carolina–1.07%
Charlotte (City of), NC (Charlotte Douglas International Airport);
Series 2022 A, RB	4.00%	07/01/2052		10,000		9,659,478
Series 2022, RB	4.00%	07/01/2047		8,370		8,166,910
North Carolina (State of) Turnpike Authority; Series 2018, Ref. RB	5.00%	01/01/2040		7,000		7,216,285
						25,042,673
Ohio–2.34%
Buckeye Tobacco Settlement Financing Authority;
Series 2020 B-2, Ref. RB	5.00%	06/01/2055		27,350		24,164,868
Series 2020 B-3, Ref. RB(h)	0.00%	06/01/2057		49,575		5,095,175
Cleveland (City of) & Cuyahoga (County of), OH Port Authority (Flats East Bank); Series 2010, RB	6.00%	11/15/2035		3,445		3,451,357
Cuyahoga (County of), OH (MetroHealth System);
Series 2017, Ref. RB	5.50%	02/15/2052		2,475		2,504,702
Series 2017, Ref. RB	5.50%	02/15/2057		1,050		1,060,673
Greater Cincinnati (Port of), OH Development Authority;
Series 2004, RB	6.30%	02/15/2024		280		279,816
Series 2004, RB	6.40%	02/15/2034		5,860		5,693,034
Greene (County of), OH (Marauder Development LLC at Central State University); Series 2002 A, RB (INS - BAM)(c)	5.50%	09/01/2027		640		640,085
Montgomery (County of), OH (Dayton Children’s Hospital); Series 2021, Ref. RB	4.00%	08/01/2046		5,000		4,644,032
Ohio (State of); Series 2017 A, GO Bonds	5.00%	09/01/2036		5,000		5,013,846
Ohio (State of) Higher Educational Facility Commission; Series 2018, Ref. RB	5.25%	01/01/2038		1,350		1,305,618
Ohio (State of) Higher Educational Facility Commission (University of Findlay); Series 2019, Ref. RB	5.00%	03/01/2039		1,000		956,101
						54,809,307
Oklahoma–0.14%
Carter (County of), OK Public Facilities Authority; Series 2018, RB	5.00%	09/01/2032		3,070		3,228,347

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

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
Oregon–0.09%
Yamhill (County of), OR Hospital Authority (Friendsview);
Series 2021 A, Ref. RB	5.00%	11/15/2046	$	1,540	$	1,186,338
Series 2021 A, Ref. RB	5.00%	11/15/2051		1,100		824,091
						2,010,429
Pennsylvania–6.61%
Allegheny (County of), PA Hospital Development Authority (Allegheny Health Network Obligated Group Issue); Series 2018 A, Ref. RB	5.00%	04/01/2036		2,825		2,957,041
Bethlehem Area School District; Series 2015 A, GO Bonds (INS - BAM)(c)	5.00%	08/01/2033		5,000		5,115,412
Chester (County of), PA Industrial Development Authority (Longwood Gardens) (Sustainability Bonds);
Series 2019, RB	5.00%	12/01/2044		1,840		1,963,926
Series 2019, RB	4.00%	12/01/2049		1,350		1,294,412
Commonwealth Financing Authority;
Series 2018, RB	5.00%	06/01/2030		1,250		1,334,275
Series 2018, RB	5.00%	06/01/2032		3,000		3,198,548
Series 2018, RB	5.00%	06/01/2033		2,000		2,131,009
Series 2018, RB	5.00%	06/01/2034		1,760		1,872,905
Delaware (County of), PA Authority (Neumann University);
Series 2016, Ref. RB	5.00%	10/01/2031		1,425		1,436,780
Series 2016, Ref. RB	5.00%	10/01/2035		2,305		2,321,194
Geisinger Authority (Geisinger Health System); Series 2017 A-1, Ref. RB	5.00%	02/15/2045		6,335		6,384,037
Montgomery (County of), PA Higher Education & Health Authority (Thomas Jefferson University); Series 2019, Ref. RB	4.00%	09/01/2049		5,250		4,655,804
Pennsylvania (Commonwealth of);
First Series 2013-1, GO Bonds	4.00%	04/01/2032		5,000		5,002,042
First Series 2018-1, GO Bonds	5.00%	03/01/2032		10,000		10,865,233
First Series 2018-1, GO Bonds	4.00%	03/01/2035		12,500		12,741,175
First Series 2018-1, GO Bonds (INS - BAM)(c)	4.00%	03/01/2036		4,175		4,244,365
Pennsylvania (Commonwealth of) Public School Building Authority (Philadelphia School District);
Series 2016 A, Ref. RB (INS - AGM)(c)	5.00%	06/01/2032		5,000		5,221,953
Series 2016 A, Ref. RB (INS - AGM)(c)	5.00%	06/01/2033		5,000		5,221,953
Pennsylvania (Commonwealth of) Turnpike Commission;
First series 2023, Ref. RB	5.00%	12/01/2043		1,000		1,060,871
Series 2009 E, RB	6.38%	12/01/2038		1,500		1,647,984
Series 2014 A-3, RB(h)	0.00%	12/01/2041		3,450		1,492,743
Series 2016, Ref. RB	5.00%	06/01/2030		5,000		5,145,981
Series 2017 B-1, RB	5.00%	06/01/2042		5,125		5,223,235
Series 2019 A, RB	5.00%	12/01/2044		7,750		8,110,532
Series 2020 B, RB	5.00%	12/01/2045		5,000		5,291,799
Series 2021 A, RB	4.00%	12/01/2050		2,000		1,877,948
Series 2021 B, RB	4.00%	12/01/2051		8,500		8,032,413
Series 2021 B, Ref. RB	5.00%	12/01/2051		7,000		7,397,554
Philadelphia (City of), PA;
Series 2017 15, Ref. RB	5.00%	08/01/2036		1,000		1,039,989
Series 2017 A, RB	5.00%	10/01/2047		10,000		10,252,333
Series 2021 C, RB	5.00%	10/01/2046		5,000		5,299,115
Philadelphia (City of), PA Authority for Industrial Development (St. Joseph’s University); Series 2022, RB	5.25%	11/01/2052		5,000		5,192,688
Philadelphia School District (The); Series 2016 F, Ref. GO Bonds	5.00%	09/01/2032		1,000		1,035,238
Pottsville (City of), PA Hospital Authority (Lehigh Valley); Series 2016 B, Ref. RB	5.00%	07/01/2041		4,000		4,053,518
Reading School District;
Series 2017, Ref. GO Bonds (INS - AGM)(c)	5.00%	03/01/2035		280		293,141
Series 2017, Ref. GO Bonds (INS - AGM)(c)	5.00%	03/01/2036		255		265,137
Scranton School District;
Series 2017 E, Ref. GO Bonds (INS - BAM)(c)	5.00%	12/01/2029		1,000		1,062,985
Series 2017 E, Ref. GO Bonds (INS - BAM)(c)	5.00%	12/01/2030		1,305		1,384,969
Series 2017 E, Ref. GO Bonds (INS - BAM)(c)	5.00%	12/01/2032		890		948,015
Series 2017 E, Ref. GO Bonds (INS - BAM)(c)	5.00%	12/01/2033		710		754,972
						154,825,224

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

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
Puerto Rico–4.24%
Corp. Para El Financiamiento Publico de Puerto Rico; Series 2011, RB	5.50%	08/01/2031		$      5,615	$	147,394
PRHTA Custodial Trust; Series 2022 I, RB(d)	5.00%	12/06/2049		13		3,494
PRIFA Custodial Trust;
Series 2005 A, RB	0.00%	03/15/2049		731		422,442
Series 2005 A, RB	0.00%	03/15/2049		645		372,951
Series 2022, RB	0.00%	03/15/2049		6,997		2,765,576
Series 2022, RB	0.00%	03/15/2049		6,362		2,693,223
Puerto Rico (Commonwealth of);
Series 2021 A, GO Bonds(h)	0.00%	07/01/2024		595		580,986
Series 2021 A, GO Bonds(h)	0.00%	07/01/2033		4,698		2,866,013
Series 2021 A-1, GO Bonds	5.38%	07/01/2025		4,066		4,137,681
Series 2021 A-1, GO Bonds	5.63%	07/01/2027		4,029		4,210,725
Series 2021 A-1, GO Bonds	5.63%	07/01/2029		3,963		4,195,130
Series 2021 A-1, GO Bonds	5.75%	07/01/2031		3,850		4,147,955
Series 2021 A-1, GO Bonds	4.00%	07/01/2033		3,651		3,415,051
Series 2021 A-1, GO Bonds	4.00%	07/01/2035		3,281		3,009,116
Series 2021 A-1, GO Bonds	4.00%	07/01/2037		2,816		2,523,067
Series 2021 A-1, GO Bonds	4.00%	07/01/2046		7,929		6,608,635
Subseries 2022, RN	0.00%	11/01/2043		17,140		8,934,056
Subseries 2022, RN	0.00%	11/01/2051		44		17,591
Subseries 2022, RN	0.00%	11/01/2051		2,021		1,060,804
Puerto Rico (Commonwealth of) Electric Power Authority;
Series 2005 RR, RB (INS - NATL)(c)	5.00%	07/01/2024		260		260,043
Series 2005 SS, Ref. RB (INS - NATL)(c)	5.00%	07/01/2025		4,000		4,001,332
Series 2007 VV, Ref. RB (INS - NATL)(c)	5.25%	07/01/2025		1,690		1,676,513
Series 2008 WW, RB(d)	5.25%	07/01/2025		1,985		501,213
Series 2010 AAA, RB(d)	5.25%	07/01/2028		2,830		714,575
Series 2010 CCC, RB(d)	5.00%	07/01/2028		2,500		631,250
Series 2010 XX, RB(d)	5.25%	07/01/2040		1,670		421,675
Series 2010 ZZ, Ref. RB(d)	5.25%	07/01/2025		405		102,263
Puerto Rico (Commonwealth of) Highway & Transportation Authority;
Series 2022 A, RB	5.00%	07/01/2062		329		325,563
Series 2022 B, RB(h)	0.00%	07/01/2032		214		138,628
Series 2022 C, RB(j)	5.00%	07/01/2053		366		236,704
Puerto Rico Sales Tax Financing Corp.;
Series 2018 A-1, RB(h)	0.00%	07/01/2046		34,472		10,172,442
Series 2018 A-1, RB(h)	0.00%	07/01/2051		31,582		6,870,986
Series 2018 A-1, RB	4.75%	07/01/2053		9,853		9,324,608
Series 2018 A-1, RB	5.00%	07/01/2058		4,400		4,277,151
Series 2019 A-2, RB	4.54%	07/01/2053		387		353,674
Series 2019 A-2, RB	4.78%	07/01/2058		5,172		4,872,359
University of Puerto Rico;
Series 2006 P, Ref. RB	5.00%	06/01/2026		1,305		1,282,586
Series 2006 P, Ref. RB	5.00%	06/01/2030		900		867,139
Series 2006 Q, RB	5.00%	06/01/2036		150		142,119
						99,284,713
Rhode Island–0.29%
Central Falls Detention Facility Corp.; Series 2005, Ref. RB (Acquired 06/23/2005; Cost $4,862,486)(d)(k)	7.25%	07/15/2035		4,915		1,966,000
Rhode Island Housing and Mortgage Finance Corp.; Series 1992 10-A, RB	6.50%	04/01/2027		20		20,041
Tobacco Settlement Financing Corp.; Series 2015 A, Ref. RB	5.00%	06/01/2040		4,695		4,712,243
						6,698,284
South Carolina–0.20%
University of South Carolina (Campus Village); Series 2021 A, RB	4.00%	05/01/2051		5,000		4,749,202

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

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
Tennessee–1.11%
Chattanooga (City of), TN Health, Educational & Housing Facility Board (CommonSpirit Health);
Series 2019 A-1, Ref. RB	4.00%	08/01/2038	$	225	$	218,961
Series 2019 A-1, Ref. RB	4.00%	08/01/2044		455		412,475
Series 2019 A-2, Ref. RB	5.00%	08/01/2044		340		347,157
Series 2019 A-2, Ref. RB	5.00%	08/01/2049		455		458,861
Greeneville (Town of), TN Health & Educational Facilities Board (Ballad Health Obligated Group);
Series 2018 A, Ref. RB	5.00%	07/01/2035		2,000		2,092,450
Series 2018 A, Ref. RB	5.00%	07/01/2036		3,000		3,120,166
Series 2018 A, Ref. RB	5.00%	07/01/2037		3,000		3,099,504
Metropolitan Development and Housing Agency (Fifth + Broadway Development); Series 2018, RB(f)	5.13%	06/01/2036		200		201,313
Metropolitan Nashville Airport Authority (The); Series 2019 A, RB	5.00%	07/01/2049		5,000		5,174,250
Tennessee Energy Acquisition Corp.;
Series 2006 C, RB	5.00%	02/01/2027		5,665		5,716,634
Series 2021 A, RB(b)	5.00%	11/01/2031		5,000		5,193,023
						26,034,794
Texas–10.73%
Alamo Community College District; Series 2007, GO Bonds (INS - NATL)(c)	4.50%	08/15/2033		5		5,002
Arlington Higher Education Finance Corp. (UME Preparatory Academy); Series 2017 A, RB	5.00%	08/15/2038		885		828,005
Arlington Higher Education Finance Corp. (Winfree Academy Charter School); Series 2019, Ref. RB	5.75%	08/15/2043		1,400		1,356,588
Birdville Independent School District; Series 2023, GO Bonds	4.00%	02/15/2048		5,000		4,712,244
Dallas & Fort Worth (Cities of), TX (Dallas/Fort Worth International Airport);
Series 2021 B, Ref. RB	4.00%	11/01/2045		10,000		9,599,325
Series 2022 B, Ref. RB	4.00%	11/01/2045		10,000		9,599,325
Dallas (County of), TX Flood Control District No. 1; Series 2015, Ref. GO Bonds(f)	5.00%	04/01/2032		1,100		1,100,042
El Paso (City of), TX; Series 2022 A, RB	4.00%	03/01/2048		11,500		11,051,572
Forney Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)	4.00%	08/15/2053		5,000		4,721,770
Grand Parkway Transportation Corp.; Series 2020, Ref. RB	4.00%	10/01/2045		15,000		14,705,079
Greater Texoma Utility Authority (City of Sherman); Series 2023 A, RB (INS - BAM)(c)	5.25%	10/01/2048		10,750		11,571,944
Gulf Coast Industrial Development Authority (ExxonMobil); Series 2012, VRD RB(l)	2.10%	11/01/2041		20,000		20,000,000
Harris (County of), TX Flood Control District (Sustainability Bonds); Series 2023 A, GO Bonds	4.00%	09/15/2048		5,000		4,784,441
Harris (County of), TX Port Authority of Houston; Series 2021, RB	4.00%	10/01/2046		5,365		5,147,711
Harris County Industrial Development Corp. (Energy Transfer L.P.); Series 2023, Ref. RB(b)	4.05%	06/01/2033		6,500		6,475,668
Houston (City of), TX; Series 2020 C, Ref. RB	4.00%	11/15/2043		10,000		9,886,808
Humble Independent School District; Series 2022, GO Bonds (CEP - Texas Permanent School Fund)	4.00%	02/15/2052		10,750		10,285,714
Jarrell Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)	4.25%	02/15/2053		9,460		9,486,535
Lamar Consolidated Independent School District;
Series 2018, GO Bonds (CEP - Texas Permanent School Fund)	5.00%	02/15/2043		10,700		11,047,774
Series 2023, GO Bonds	4.00%	02/15/2053		7,500		6,987,634
Lower Colorado River Authority (LCRA Transmission Services Corp.); Series 2022, Ref. RB	6.00%	05/15/2052		3,235		3,644,012
Medina Valley Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)	4.00%	02/15/2053		7,000		6,755,743
New Hope Cultural Education Facilities Finance Corp. (Beta Academy);
Series 2019, RB(f)	5.00%	08/15/2039		425		402,387
Series 2019, RB(f)	5.00%	08/15/2049		150		133,145
New Hope Cultural Education Facilities Finance Corp. (Cardinal Bay, Inc. - Village on the Park/Carriage Inn); Series 2016 A-1, RB (Acquired 05/05/2016; Cost $145,528)(k)	5.00%	07/01/2031		140		95,900
New Hope Cultural Education Facilities Finance Corp. (Cardinal Bay, Inc.);
Series 2016, RB (Acquired 05/05/2016; Cost $718,216)(k)	5.00%	07/02/2046		700		479,500
Series 2016, RB (Acquired 05/05/2016; Cost $613,393)(k)	5.00%	07/03/2051		600		411,000
New Hope Cultural Education Facilities Finance Corp. (CHF - Collegiate Housing Corpus Christi II, LLC - Texas A&M University-Corpus Christi); Series 2016 A, RB(a)(b)	5.00%	04/01/2026		355		370,418
New Hope Cultural Education Facilities Finance Corp. (CHF - Collegiate Housing Denton, LLC - Texas Woman’s University);
Series 2018 A-1, RB (INS - AGM)(c)	5.00%	07/01/2048		250		251,338
Series 2018 A-1, RB (INS - AGM)(c)	5.00%	07/01/2058		850		852,219
New Hope Cultural Education Facilities Finance Corp. (CHF - Collegiate Housing San Antonio I, LLC - Texas A&M University); Series 2016 A, RB(a)(b)	5.00%	04/01/2026		1,000		1,042,286
North Texas Tollway Authority; Series 2017 B, Ref. RB (INS - BAM)(c)	5.00%	01/01/2043		10,000		10,293,478
Northwest Independent School District; Series 2015, GO Bonds(a)(b)	5.00%	02/15/2025		10,000		10,223,721

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

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
Texas–(continued)
Rockwall Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)	4.00%	02/15/2053	$	5,000	$	4,793,062
San Antonio (City of), TX; Series 2023 A, Ref. RB	5.25%	02/01/2046		5,000		5,519,787
Southwest Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)	4.00%	02/01/2053		5,000		4,753,539
Spring Independent School District; Series 2023, GO Bonds	4.00%	08/15/2052		7,500		6,942,415
Texas (State of) Water Development Board (Master Trust);
Series 2021, RB	4.00%	10/15/2051		10,000		9,625,684
Series 2022, RB	5.00%	10/15/2047		16,350		17,751,362
Texas Municipal Gas Acquisition & Supply Corp. III;
Series 2021, Ref. RB	5.00%	12/15/2031		2,500		2,581,330
Series 2021, Ref. RB	5.00%	12/15/2032		5,000		5,170,152
Texas Private Activity Bond Surface Transportation Corp. (NTE Mobility Partners LLC - North Tarrant Express Managed Lanes); Series 2019 A, Ref. RB	4.00%	12/31/2038		6,135		5,883,540
						251,329,199
Utah–0.07%
Utah (State of) Charter School Finance Authority; Series 2018, RB	5.00%	10/15/2038		720		735,315
Utah (State of) Charter School Finance Authority (Merit Preparatory Academy); Series 2019 A, RB(f)	5.38%	06/15/2049		1,110		980,445
						1,715,760
Virgin Islands–0.06%
Virgin Islands (Government of) Public Finance Authority (Virgin Islands Gross Receipts Taxes Loan Note); Series 2012 A, Ref. RB (INS - AGM)(c)	5.00%	10/01/2032		1,400		1,400,762
Virginia–0.31%
Celebrate North Community Development Authority (Celebrate VA North); Series 2003 B, RB(d)(g)	6.75%	03/01/2034		302		196,300
Chesapeake Bay Bridge & Tunnel District; Series 2016, RB	5.00%	07/01/2046		6,320		6,344,803
Virginia Beach Development Authority (Westminster-Canterbury on Chesapeake Bay); Series 2018, Ref. RB	5.00%	09/01/2036		715		676,232
						7,217,335
Washington–0.75%
Kelso (City of), WA Housing Authority (Chinook & Columbia Apartments); Series 1998, RB	5.60%	03/01/2028		45		44,695
Seattle (City of), WA; Series 2023 A, Ref. RB	5.00%	03/01/2048		5,000		5,394,184
Tacoma (City of), WA Consolidated Local Improvement Districts; Series 2013, RB	5.75%	04/01/2043		1,366		1,305,808
Washington (State of) Health Care Facilities Authority (Multicare Health System); Series 2015 A, RB	5.00%	08/15/2045		8,500		8,509,973
Washington (State of) Health Care Facilities Authority (Virginia Mason Medical Center); Series 2017, Ref. RB	5.00%	08/15/2034		2,250		2,313,592
						17,568,252
Wisconsin–1.61%
Wisconsin (State of) Center District; Series 2020 D, RB (INS - AGM)(c)(h)	0.00%	12/15/2055		23,575		5,130,314
Wisconsin (State of) Health & Educational Facilities Authority; Series 2018 XF2541, Revenue Ctfs.(i)	4.00%	11/15/2034		20,000		20,168,236
Wisconsin (State of) Health & Educational Facilities Authority (Froedtert Health); Series 2022 A, Ref. RB	4.00%	04/01/2042		7,160		6,826,704
Wisconsin (State of) Public Finance Authority (Beyond Boone, LLC - Appalachian State University);
Series 2019 A, RB (INS - AGM)(c)	5.00%	07/01/2036		900		949,418
Series 2019 A, RB (INS - AGM)(c)	5.00%	07/01/2054		1,275		1,291,149
Series 2019 A, RB (INS - AGM)(c)	5.00%	07/01/2058		1,400		1,417,732
Wisconsin (State of) Public Finance Authority (Explore Knowledge Foundation);
Series 2012 A, RB	5.75%	07/15/2032		320		320,147
Series 2012 A, RB	6.00%	07/15/2042		350		350,130
Wisconsin (State of) Public Finance Authority (North Carolina Leadership Academy); Series 2019, RB(f)	5.00%	06/15/2039		310		287,225

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

                             Invesco AMT-Free Municipal Income Fund

	Interest Rate	Maturity   Date	Principal   Amount (000)		Value
Wisconsin–(continued)
Wisconsin (State of) Public Finance Authority (Traders Point Christian Schools);
Series 2019 A, RB(f)	5.38%	06/01/2044	$	535	$	445,180
Series 2019 A, RB(f)	5.50%	06/01/2054		540		437,336
						37,623,571
TOTAL INVESTMENTS IN SECURITIES(m)–101.06% (Cost $2,411,006,162)						2,367,389,838
FLOATING RATE NOTE OBLIGATIONS–(2.94)%
Notes with interest and fee rates ranging from 3.82% to 3.90% at 11/30/2023 and contractual maturities of collateral ranging from 10/01/2032 to 06/01/2050(n)						(68,795,000	)
OTHER ASSETS LESS LIABILITIES–1.88%						43,942,946
NET ASSETS–100.00%					$	2,342,537,784

Investment Abbreviations:

AGM	– Assured Guaranty Municipal Corp.
AMBAC	– American Municipal Bond Assurance Corp.
BAM	– Build America Mutual Assurance Co.
CEP	– Credit Enhancement Provider
CHF	– Swiss Franc
Ctfs.	– Certificates
GNMA	– Government National Mortgage Association
GO	– General Obligation
IDR	– Industrial Development Revenue Bonds
INS	– Insurer
NATL	– National Public Finance Guarantee Corp.
RAC	– Revenue Anticipation Certificates
RB	– Revenue Bonds
Ref.	– Refunding
RN	– Revenue Notes
VRD	– Variable Rate Demand
Wts.	– Warrants

Notes to Schedule of Investments:

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

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

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

^(d)  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 $19,161,838, which represented less than 1% of the Fund’s Net Assets.

^(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)  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 $43,217,812, which represented 1.84% of the Fund’s Net Assets.

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

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

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

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

^(k)  Restricted security. The aggregate value of these securities at November 30, 2023 was $3,423,187, which represented less than 1% of the Fund’s Net Assets.

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

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

⁽ⁿ⁾  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 $122,604,056 are held by TOB Trusts and serve as collateral for the $68,795,000 in the floating rate note obligations outstanding at that date.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

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

                             Invesco AMT-Free Municipal Income Fund

Notes to Quarterly Schedule of Portfolio Holdings

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		$–		$2,351,518,823		$15,871,015		$2,367,389,838
Other Investments - Assets
Investments Matured		–		2,228,550		2,489,229		4,717,779
Total Investments		$–		$2,353,747,373		$18,360,244		$2,372,107,617

                             Invesco AMT-Free Municipal Income Fund