NPORT-EX 2 edgar.htm EDGAR HTML
Schedule of Investments  
May 31, 2025
(Unaudited) 
 
Interest
Rate
Maturity
Date
Principal
Amount
(000)
Value
Municipal Obligations–111.36%(a)
California–106.70%
Adelanto Community Facilities District No. 2006-2 (Improvement Area No. 2); Series 2015 A, RB
 5.00%
09/01/2045
 
$1,000
$1,000,032
Adelanto Public Utility Authority (Utility System);
      
 
 
Series 2014 A, RB
 5.00%
07/01/2039
 
5,445
5,199,427
Series 2017 A, Ref. RB (INS - AGI)(b)
 5.00%
07/01/2039
 
2,000
2,043,851
Adelanto School District (Community Facilities District No. 4); Series 2023, RB
 5.75%
09/01/2053
 
1,400
1,456,660
Alameda (City of), CA Corridor Transportation Authority; Series 2022 C, RB (INS - AGI)(b)
 5.00%
10/01/2052
 
7,000
7,144,780
Alvord Unified School District; Series 2023 A, GO Bonds (INS - BAM)(b)
 5.00%
08/01/2052
 
10,000
10,289,202
Atwater (City of), CA; Series 2017 A, Ref. RB (INS - AGI)(b)
 5.00%
05/01/2040
 
1,250
1,268,478
Bakersfield (City of), CA (Assessment District No. 07-2); Series 2008, RB
 7.38%
09/02/2028
 
555
558,695
Bay Area Toll Authority; Series 2024 H, VRD RB(c)
 0.85%
04/01/2059
 
2,000
2,000,000
Bay Area Toll Authority (San Francisco Bay Area); Series 2017, Ref. RB
 4.00%
04/01/2049
 
630
564,963
Beaumont (City of), CA (Community Facilities District No. 2016-1);
      
 
 
Series 2019, RB
 5.00%
09/01/2030
 
125
129,142
Series 2019, RB
 5.00%
09/01/2031
 
140
144,597
Series 2019, RB
 5.00%
09/01/2049
 
775
774,376
Beaumont (City of), CA Financing Authority (Improvement Area No. 19A); Series 2015 B, Ref. RB
 5.00%
09/01/2025
 
545
546,954
Beaumont Unified School District Community Facilities District No. 2020-1 (Improvement area No.
2); Series 2023, RB
 5.00%
09/01/2053
 
875
865,740
Beaumont Unified School District Community Facilities District No. 2022-1 (Improvement Area No.
2);
      
 
 
Series 2025, RB
 5.00%
09/01/2050
 
305
303,681
Series 2025, RB
 5.00%
09/01/2055
 
900
887,030
Beverly Hills Unified School District (Election of 2008);
      
 
 
Series 2009, GO Bonds(d)
 0.00%
08/01/2026
 
1,465
1,415,299
Series 2009, GO Bonds(d)
 0.00%
08/01/2032
 
3,045
2,410,035
Blythe (City of), CA Community Facilities District No. 2004-1; Series 2005, RB
 5.30%
09/01/2035
 
500
501,535
Blythe (City of), CA Redevelopment Agency Successor Agency (Project No. 1);
      
 
 
Series 2011 A, RB
 9.75%
05/01/2038
 
1,775
1,782,082
Series 2015, Ref. RB
 5.00%
05/01/2038
 
1,000
1,002,114
Burbank-Glendale-Pasadena Airport Authority; Series 2024 B, RB(e)
 5.25%
07/01/2054
 
12,300
12,448,149
Calexico (City of), CA Community Facilities District No. 2005-1;
      
 
 
Series 2006, RB(f)
 5.50%
09/01/2036
 
2,500
875,000
Series 2006, RB(f)
 5.55%
09/01/2036
 
2,325
813,750
California (State of);
      
 
 
Series 2022 CU, GO Bonds
 4.85%
12/01/2046
 
1,700
1,726,179
Series 2022, GO Bonds(g)
 5.00%
11/01/2042
 
11,370
12,075,994
Series 2022, GO Bonds(g)
 5.00%
09/01/2052
 
10,000
10,331,426
Series 2022, GO Bonds
 5.00%
09/01/2052
 
5,000
5,165,713
Series 2023, GO Bonds(g)
 5.25%
09/01/2053
 
15,000
15,819,450
California (State of) Community Choice Financing Authority (Clean Energy); Series 2024, RB(h)
 5.00%
04/01/2032
 
5,000
5,249,604
California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds);
      
 
 
Series 2023, RB(h)
 5.00%
08/01/2029
 
3,600
3,743,584
Series 2024, RB(h)
 5.00%
08/01/2032
 
10,000
10,288,256
Series 2024, RB(h)
 5.00%
12/01/2032
 
27,500
28,290,254
California (State of) Community Choice Financing Authority (Green Bonds);
      
 
 
Series 2023 C, RB(h)
 5.25%
10/01/2031
 
10,000
10,357,199
Series 2023 D, RB(h)
 5.50%
11/01/2028
 
8,000
8,395,978
California (State of) Community College Financing Authority (NCCD - Orange Coast Properties LLC -
Orange Coast College);
      
 
 
Series 2018, RB
 5.25%
05/01/2048
 
665
675,527
Series 2018, RB
 5.25%
05/01/2053
 
2,500
2,530,119
California (State of) Community Housing Agency (Stonridge Apartments); Series 2021 A, RB(i)
 4.00%
02/01/2056
 
3,000
2,091,670
California (State of) Community Housing Agency (Verdant at Green Valley); Series 2019 A, RB(i)
 5.00%
08/01/2049
 
5,360
4,768,155
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) County Tobacco Securitization Agency;
      
 
 
Series 2007 D, RB(d)(i)
 0.00%
06/01/2057
 
$45,600
$3,463,740
Series 2007 E, RB(d)(i)
 0.00%
06/01/2057
 
51,500
3,355,287
Series 2007 F, RB(d)(i)
 0.00%
06/01/2057
 
55,250
3,477,059
Series 2020 A, Ref. RB
 4.00%
06/01/2037
 
550
524,719
Series 2020 A, Ref. RB
 4.00%
06/01/2039
 
1,200
1,127,475
California (State of) County Tobacco Securitization Agency (Alameda County Tobacco Asset
Securitization Corp.);
      
 
 
Series 2002, RB
 6.00%
06/01/2042
 
15,990
16,111,001
Series 2006 C, RB(d)
 0.00%
06/01/2055
 
332,360
31,875,817
California (State of) County Tobacco Securitization Agency (Fresno County Tobacco Funding
Corp.);
      
 
 
Series 2002, RB
 6.00%
06/01/2035
 
1,360
1,362,080
Series 2002, RB
 6.13%
06/01/2038
 
9,700
9,711,627
Series 2006 A, RB(d)
 0.00%
06/01/2046
 
62,110
16,278,224
Series 2006 C, RB(d)
 0.00%
06/01/2055
 
71,700
7,853,552
Series 2006 D, RB(d)
 0.00%
06/01/2055
 
309,500
26,912,356
California (State of) County Tobacco Securitization Agency (Los Angeles County Securitization
Corp.);
      
 
 
Series 2020 A, Ref. RB
 4.00%
06/01/2049
 
710
614,089
Series 2020 B-2, Ref. RB(d)
 0.00%
06/01/2055
 
22,000
4,004,004
California (State of) County Tobacco Securitization Agency (Merced County Tobacco Funding
Corp.); Series 2020, Ref. RB
 5.00%
06/01/2050
 
3,210
3,005,502
California (State of) County Tobacco Securitization Agency (Sonoma County Securitization Corp.);
Series 2020, Ref. RB(d)
 0.00%
06/01/2055
 
6,050
1,219,901
California (State of) County Tobacco Securitization Agency (Stanislaus County Tobacco Funding
Corp.); Series 2002 A, RB
 5.88%
06/01/2043
 
520
520,588
California (State of) Educational Facilities Authority (Loma Linda University);
      
 
 
Series 2017 A, Ref. RB
 5.00%
04/01/2042
 
1,715
1,708,602
Series 2017 A, Ref. RB
 5.00%
04/01/2047
 
1,000
973,194
California (State of) Educational Facilities Authority (Saint Mary’s College of California);
Series 2023, Ref. RB
 5.50%
10/01/2053
 
8,005
8,110,861
California (State of) Educational Facilities Authority (University of Redlands); Series 2022 A, RB
 5.00%
10/01/2052
 
2,300
2,198,040
California (State of) Enterprise Development Authority (Heights Christian Schools); Series 2023 A,
RB(i)
 6.25%
06/01/2053
 
2,520
2,371,321
California (State of) Enterprise Development Authority (Real Journey Academies Obligated Group);
      
 
 
Series 2024 A, RB(i)
 5.00%
06/01/2054
 
2,500
2,295,444
Series 2024 A, RB(i)
 5.00%
06/01/2064
 
7,500
6,710,236
California (State of) Enterprise Development Authority (Rocklin Academy (The));
      
 
 
Series 2024, RB(i)
 5.00%
06/01/2054
 
1,400
1,294,895
Series 2024, RB(i)
 5.00%
06/01/2064
 
1,350
1,217,551
California (State of) Health Facilities Financing Authority (Cedars-Sinai Medical Center);
      
 
 
Series 2015, Ref. RB
 5.00%
11/15/2033
 
1,000
1,004,752
Series 2021 A, Ref. RB
 4.00%
08/15/2048
 
20,690
18,563,980
California (State of) Health Facilities Financing Authority (Children’s Hospital Los Angeles);
Series 2017 A, Ref. RB
 5.00%
08/15/2047
 
1,715
1,648,958
California (State of) Health Facilities Financing Authority (Commonspirit Health);
      
 
 
Series 2020, Ref. RB(h)(j)
 4.00%
04/01/2030
 
210
220,964
Series 2020, Ref. RB
 4.00%
04/01/2049
 
5,925
5,052,512
Series 2024 A, RB
 5.00%
12/01/2054
 
4,195
4,206,215
California (State of) Health Facilities Financing Authority (Community Program for Persons with
Developmental Disabilities); Series 2011 A, RB (INS - Cal-Mortgage)(b)
 6.25%
02/01/2026
 
570
571,517
California (State of) Health Facilities Financing Authority (EL Camino Health); Series 2025 A, Ref.
RB
 5.25%
02/01/2048
 
1,500
1,566,699
California (State of) Health Facilities Financing Authority (El Camino Hospital); Series 2015 A, Ref.
RB
 5.00%
02/01/2040
 
2,130
2,130,331
California (State of) Health Facilities Financing Authority (Episcopal Communities & Services);
      
 
 
Series 2024, RB
 5.25%
11/15/2048
 
1,000
1,002,603
Series 2024, RB
 5.25%
11/15/2058
 
3,750
3,689,826
California (State of) Health Facilities Financing Authority (Kaiser Permanente); Subseries 2017
A-2, RB
 5.00%
11/01/2047
 
10,000
10,662,243
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 (Lucile Salter Packard Children’s Hospital
at Stanford); Series 2017, RB
 4.00%
11/15/2047
 
$560
$481,026
California (State of) Health Facilities Financing Authority (Lucile Salter Packard); Series 2022, Ref.
RB
 4.00%
05/15/2046
 
5,925
5,303,950
California (State of) Health Facilities Financing Authority (On Lok Senior Health Services) (Social
Bonds);
      
 
 
Series 2020, Ref. RB
 5.00%
08/01/2040
 
700
709,607
Series 2020, Ref. RB
 5.00%
08/01/2055
 
1,130
1,076,970
California (State of) Health Facilities Financing Authority (Providence Health & Services);
Series 2014 B, RB
 5.00%
10/01/2044
 
7,625
7,624,647
California (State of) Health Facilities Financing Authority (Stanford Health Care); Series 2020 A,
Ref. RB
 4.00%
08/15/2050
 
15,000
13,264,935
California (State of) Health Facilities Financing Authority (Sutter Health); Series 2016 B, Ref. RB
 5.00%
11/15/2046
 
21,350
21,287,731
California (State of) Housing Finance Agency; Series 2019 A, RB
 4.25%
01/15/2035
 
1,540
1,547,499
California (State of) Infrastructure & Economic Development Bank (Brightline West Passenger Rail)
(Green Bonds); Series 2025 B, Ref. RB(e)(h)(i)
 9.50%
01/01/2035
 
7,000
6,784,902
California (State of) Infrastructure & Economic Development Bank (UCSF 2130 Third Street);
Series 2017, RB
 5.00%
05/15/2052
 
2,815
2,837,293
California (State of) Infrastructure & Economic Development Bank (WFCS Portfolio Program);
Series 2021 A-1, RB(i)
 5.00%
01/01/2056
 
2,450
2,135,126
California (State of) Municipal Finance Authority;
      
 
 
Series 2024 D, RB
 5.00%
09/01/2049
 
1,000
990,874
Series 2024 D, RB
 5.00%
09/01/2054
 
1,000
963,898
California (State of) Municipal Finance Authority (American Heritage Education Foundation);
Series 2016 A, Ref. RB
 5.00%
06/01/2046
 
3,015
2,904,939
California (State of) Municipal Finance Authority (Ascent 613); Series 2025 A, RB(i)
 5.38%
01/01/2055
 
5,000
4,661,706
California (State of) Municipal Finance Authority (Bella Mente Montessori Academy);
      
 
 
Series 2018 A, RB(i)
 5.00%
06/01/2038
 
280
276,234
Series 2018 A, RB(i)
 5.00%
06/01/2048
 
3,225
3,015,527
California (State of) Municipal Finance Authority (Bold Program);
      
 
 
Series 2020 B, RB
 4.00%
09/01/2043
 
755
660,868
Series 2020 B, RB
 4.00%
09/01/2050
 
1,095
908,703
Series 2021 A, RB
 4.00%
09/01/2041
 
655
587,297
Series 2021 A, RB
 4.00%
09/01/2046
 
1,095
911,055
Series 2021 B, RB
 4.00%
09/01/2041
 
915
823,270
Series 2021 B, RB
 4.00%
09/01/2046
 
830
715,239
Series 2021 B, RB
 4.00%
09/01/2051
 
775
636,263
Series 2022 B, Ref. RB
 6.00%
09/01/2052
 
2,160
2,253,937
Series 2022 B, Ref. RB
 6.30%
09/01/2052
 
870
923,387
Series 2022 C, RB
 6.25%
09/01/2052
 
1,885
1,995,056
Series 2023 B, RB
 5.75%
09/01/2053
 
1,350
1,401,879
California (State of) Municipal Finance Authority (California Baptist University); Series 2016 A,
RB(i)
 5.00%
11/01/2046
 
1,000
928,554
California (State of) Municipal Finance Authority (Caritas);
      
 
 
Series 2017 A, Ref. RB
 4.00%
08/15/2037
 
1,055
1,018,101
Series 2021 B, Ref. RB
 4.00%
08/15/2041
 
295
262,742
Series 2021 B, Ref. RB
 4.00%
08/15/2051
 
435
351,372
California (State of) Municipal Finance Authority (Caritas) (Social Bonds);
      
 
 
Series 2023, RB
 5.25%
08/15/2058
 
1,100
1,118,919
Series 2024, Ref. RB
 5.00%
08/15/2049
 
1,000
1,003,204
Series 2024, Ref. RB
 5.00%
08/15/2059
 
1,600
1,575,790
California (State of) Municipal Finance Authority (CHF-Davis I, LLC - West Village Student Housing);
      
 
 
Series 2018, RB
 5.00%
05/15/2035
 
5,000
5,130,351
Series 2018, RB
 5.00%
05/15/2043
 
5,900
5,901,040
California (State of) Municipal Finance Authority (CHF-Riverside II, LLC - UCR North District Phase I
Student Housing); Series 2019, RB (INS - BAM)(b)
 5.00%
05/15/2049
 
2,660
2,693,236
California (State of) Municipal Finance Authority (City of Chula Vista-Sunbow); Series 2024 A, RB
 5.00%
09/01/2054
 
1,700
1,646,036
California (State of) Municipal Finance Authority (City of Elk Grove-Madeira Ranch);
      
 
 
Series 2024, RB
 5.00%
09/01/2049
 
785
784,367
Series 2024, RB
 5.00%
09/01/2054
 
750
727,287
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 (Cityview Apartments) (Green Bonds);
Series 2021, RB(i)
 4.00%
11/01/2036
 
$1,625
$1,491,939
California (State of) Municipal Finance Authority (Community Medical Centers);
      
 
 
Series 2017 A, Ref. RB
 5.00%
02/01/2037
 
1,000
1,001,428
Series 2017 A, Ref. RB
 5.00%
02/01/2047
 
2,005
1,979,356
California (State of) Municipal Finance Authority (Eskaton Properties, Inc.);
      
 
 
Series 2024, Ref. RB
 5.00%
11/15/2039
 
3,345
3,457,096
Series 2024, Ref. RB
 5.00%
11/15/2044
 
1,995
1,986,273
California (State of) Municipal Finance Authority (Goodwill Industries of Sacramento & Nevada);
      
 
 
Series 2012, RB(i)
 6.63%
01/01/2032
 
625
607,490
Series 2012, RB(i)
 6.88%
01/01/2042
 
2,080
1,939,442
California (State of) Municipal Finance Authority (Greenfield Commons I) (Green Bonds);
Series 2023 A, RB (CEP - FNMA)
 5.28%
09/01/2046
 
2,950
3,056,535
California (State of) Municipal Finance Authority (Humangood - California Obligated Group);
      
 
 
Series 2021, RB
 4.00%
10/01/2046
 
1,080
921,546
Series 2021, RB
 4.00%
10/01/2049
 
8,000
6,726,454
California (State of) Municipal Finance Authority (Linxs APM);
      
 
 
Series 2018 A, RB(e)
 5.00%
12/31/2043
 
10,005
9,752,260
Series 2018 A, RB(e)
 5.00%
12/31/2047
 
18,610
17,793,216
California (State of) Municipal Finance Authority (Mt. San Antonio Gardens); Series 2019, Ref. RB
 5.00%
11/15/2049
 
2,825
2,556,596
California (State of) Municipal Finance Authority (Open Door Community Health Centers);
Series 2021, RB (INS - Cal-Mortgage)(b)
 4.00%
09/15/2051
 
3,385
3,040,588
California (State of) Municipal Finance Authority (Palmdale Aerospace Academy (The));
Series 2018 A, RB(i)
 5.00%
07/01/2049
 
600
538,289
California (State of) Municipal Finance Authority (Palomar Health); Series 2022 A, Ref. COP (INS -
AGI)(b)
 5.25%
11/01/2052
 
5,400
5,449,675
California (State of) Municipal Finance Authority (PRS California Obligated Group);
      
 
 
Series 2024, Ref. RB
 5.00%
04/01/2049
 
1,300
1,283,637
Series 2024, Ref. RB
 5.00%
04/01/2054
 
1,540
1,496,335
California (State of) Municipal Finance Authority (Samuel Merritt University); Series 2022, RB
 5.25%
06/01/2053
 
11,500
11,880,829
California (State of) Municipal Finance Authority (Santa Rosa Academy); Series 2022, Ref. RB
 5.00%
07/01/2052
 
3,250
3,001,049
California (State of) Municipal Finance Authority (Social Bonds);
      
 
 
Series 2019 A, Ref. RB(i)
 5.00%
11/01/2029
 
840
851,688
Series 2019 A, Ref. RB(i)
 5.00%
11/01/2039
 
1,475
1,372,195
Series 2019 A, Ref. RB(i)
 5.00%
11/01/2049
 
2,700
2,342,093
California (State of) Municipal Finance Authority (South Central Los Angeles); Series 2024, Ref. RB
 4.00%
12/01/2043
 
1,000
900,687
California (State of) Municipal Finance Authority (St. Ignatius College Preparatory); Series 2024 A,
RB
 5.00%
09/01/2049
 
1,500
1,529,355
California (State of) Municipal Finance Authority (Turning Point Schools);
      
 
 
Series 2024, Ref. RB(i)
 5.25%
06/01/2044
 
1,075
1,003,904
Series 2024, Ref. RB(i)
 5.50%
06/01/2054
 
1,300
1,192,515
California (State of) Municipal Finance Authority (UCR North District Phase 1 Student Housing);
Series 2019, RB (INS - BAM)(b)
 5.00%
05/15/2052
 
5,875
5,931,146
California (State of) Municipal Finance Authority (United Airlines, Inc.); Series 2019, RB(e)
 4.00%
07/15/2029
 
20,000
19,480,330
California (State of) Municipal Finance Authority (University of La Verne); Series 2017 A, Ref. RB
 5.00%
06/01/2043
 
600
589,277
California (State of) Municipal Finance Authority (Westside Neighborhood School);
      
 
 
Series 2024, RB(i)
 6.20%
06/15/2054
 
1,800
1,871,122
Series 2024, RB(i)
 6.38%
06/15/2064
 
1,000
1,044,093
California (State of) Municipal Finance Authority (William Jessup University); Series 2019, Ref.
RB(i)
 5.00%
08/01/2039
 
1,400
1,163,720
California (State of) Pollution Control Financing Authority (CalPlant I) (Green Bonds);
      
 
 
Series 2017, RB (Acquired 05/25/2017; Cost $1,387,423)(e)(i)(k)(l)
 7.50%
07/01/2032
 
1,425
14
Series 2017, RB (Acquired 05/25/2017; Cost $1,890,139)(e)(i)(k)(l)
 8.00%
07/01/2039
 
1,900
19
Series 2020, RB (Acquired 10/06/2020; Cost $401,185)(e)(i)(k)(l)
 7.50%
07/01/2032
 
420
4
California (State of) Pollution Control Financing Authority (Plant Bonds);
      
 
 
Series 2012, RB(e)(i)
 5.00%
07/01/2037
 
3,000
2,999,786
Series 2012, RB(e)(i)
 5.00%
11/21/2045
 
1,000
947,110
California (State of) Pollution Control Financing Authority (Poseidon Resources L.P.); Series 2023,
RB(e)(i)
 5.00%
11/21/2045
 
1,000
989,737
California (State of) Pollution Control Financing Authority (San Diego County Water Authority);
Series 2019, Ref. RB(i)
 5.00%
11/21/2045
 
2,500
2,474,343
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 (California Crosspoint Academy); Series 2020 A, RB(i)
 5.13%
07/01/2055
 
$5,000
$3,968,284
California (State of) Public Finance Authority (Crossroads Christian Schools); Series 2020, RB(i)
 5.00%
01/01/2056
 
1,000
830,004
California (State of) Public Finance Authority (Enso Village) (Green Bonds);
      
 
 
Series 2021, RB(i)
 5.00%
11/15/2036
 
1,000
1,002,030
Series 2021, RB(i)
 5.00%
11/15/2046
 
4,000
3,629,670
Series 2021, RB(i)
 5.00%
11/15/2051
 
3,590
3,133,178
Series 2021, RB(i)
 5.00%
11/15/2056
 
2,685
2,305,976
California (State of) Public Finance Authority (Excelsior Charter Schools);
      
 
 
Series 2020 A, RB(i)
 5.00%
06/15/2050
 
1,540
1,383,645
Series 2020 A, RB(i)
 5.00%
06/15/2055
 
1,030
906,351
California (State of) Public Finance Authority (Hazelden Betty Ford Foundation); Series 2025, RB
 5.00%
11/01/2054
 
4,000
3,959,152
California (State of) Public Finance Authority (Henry Mayo Newhall Hospital);
      
 
 
Series 2017, Ref. RB
 5.00%
10/15/2037
 
1,000
1,005,357
Series 2017, Ref. RB
 5.00%
10/15/2047
 
1,000
945,080
California (State of) Public Finance Authority (Kendal at Ventura); Series 2023 A-C, RB(i)
10.00%
05/15/2028
 
2,900
3,603,953
California (State of) Public Finance Authority (LaVerne Elementary Preparatory Academy);
Series 2019 A, RB(i)
 5.00%
06/15/2049
 
1,400
1,238,162
California (State of) Public Finance Authority (Trinity Classical Academy);
      
 
 
Series 2019 A, RB(i)
 5.00%
07/01/2036
 
400
382,749
Series 2019 A, RB(i)
 5.00%
07/01/2044
 
630
548,298
Series 2019 A, RB(i)
 5.00%
07/01/2054
 
1,600
1,314,423
California (State of) Public Works Board (Various Capital); Series 2021 B, RB
 4.00%
05/01/2046
 
16,640
15,194,901
California (State of) School Finance Authority; Series 2024 A, RB(i)
 5.75%
06/01/2053
 
2,000
1,903,904
California (State of) School Finance Authority (Alliance for College-Ready Public Schools);
      
 
 
Series 2015, RB(i)
 5.00%
07/01/2045
 
1,265
1,257,867
Series 2024, Ref. RB(i)
 5.00%
07/01/2059
 
2,700
2,591,888
California (State of) School Finance Authority (Aspen Public Sschools Obligated Group);
      
 
 
Series 2022 A, RB(i)
 6.13%
07/01/2052
 
3,745
3,684,164
Series 2022 A, RB(i)
 6.25%
07/01/2062
 
4,655
4,560,400
California (State of) School Finance Authority (Aspire Public School);
      
 
 
Series 2015 A, Ref. RB(i)
 5.00%
08/01/2045
 
1,000
928,572
Series 2016, Ref. RB(i)
 5.00%
08/01/2041
 
2,425
2,318,184
Series 2016, Ref. RB(i)
 5.00%
08/01/2046
 
685
638,377
California (State of) School Finance Authority (Aspire Public Schools Obligated Group);
Series 2020 A, RB(i)
 5.00%
08/01/2059
 
3,120
2,830,261
California (State of) School Finance Authority (Camino Nuevo Charter Academy Obligated Group)
(Green Bonds); Series 2023, Ref. RB(i)
 5.25%
06/01/2053
 
1,550
1,475,782
California (State of) School Finance Authority (Escuela Popular);
      
 
 
Series 2017, RB(h)(i)(j)
 6.25%
07/01/2027
 
875
930,805
Series 2017, RB(i)
 6.25%
07/01/2037
 
375
380,258
California (State of) School Finance Authority (Granada Hills Charter Obligated Group);
      
 
 
Series 2019, RB(i)
 5.00%
07/01/2043
 
2,000
1,961,769
Series 2024, RB(i)
 5.00%
07/01/2064
 
1,440
1,381,934
California (State of) School Finance Authority (Green Dot Public Schools);
      
 
 
Series 2015 A, RB(i)
 5.00%
08/01/2045
 
2,305
2,224,048
Series 2018 A, RB(i)
 5.00%
08/01/2038
 
1,000
1,007,210
California (State of) School Finance Authority (Grimmway Schools Obligated Group); Series 2016
A, RB(i)
 4.25%
07/01/2028
 
500
500,033
California (State of) School Finance Authority (Harbor Springs Obligated Group);
      
 
 
Series 2024, RB(i)
 5.50%
07/01/2054
 
2,250
2,262,217
Series 2024, RB(i)
 5.63%
07/01/2063
 
1,000
1,004,111
California (State of) School Finance Authority (Hawking Steam Charter School);
      
 
 
Series 2022, RB(i)
 5.38%
07/01/2056
 
995
963,093
Series 2022, RB(i)
 5.50%
07/01/2062
 
1,000
977,764
California (State of) School Finance Authority (KIPP LA);
      
 
 
Series 2015 A, RB(i)
 5.00%
07/01/2045
 
500
481,896
Series 2017 A, RB(i)
 5.00%
07/01/2037
 
590
594,452
Series 2017 A, RB(i)
 5.00%
07/01/2047
 
3,240
3,099,457
California (State of) School Finance Authority (KIPP SoCal Public Schools); Series 2019 A, RB(i)
 5.00%
07/01/2049
 
1,700
1,620,955
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) School Finance Authority (Magnolia Public Schools Obligated Groups);
Series 2025, RB(i)
 5.00%
07/01/2055
 
$2,000
$1,880,626
California (State of) School Finance Authority (New Designs Charter School);
      
 
 
Series 2019 A, RB(i)
 5.00%
06/01/2050
 
1,060
989,825
Series 2024, Ref. RB(i)
 5.00%
06/01/2054
 
1,300
1,190,149
Series 2024, Ref. RB(i)
 5.00%
06/01/2064
 
1,600
1,424,685
California (State of) School Finance Authority (Orange County Educational Arts Academy);
Series 2023, Ref. RB (CEP - Colorado Higher Education Intercept Program)(i)
 5.88%
06/01/2053
 
700
691,906
California (State of) School Finance Authority (Partnership to Uplift Communities) (Social Bonds);
      
 
 
Series 2023, Ref. RB(i)
 5.50%
08/01/2043
 
550
559,911
Series 2023, Ref. RB(i)
 5.50%
08/01/2047
 
525
530,438
California (State of) School Finance Authority (Scholarship Prep Public Schools – Obligated Group);
Series 2023 A, RB(i)
 6.00%
06/01/2063
 
2,035
1,957,629
California (State of) School Finance Authority (Sonoma County Junior College); Series 2021, RB(i)
 4.00%
11/01/2051
 
2,700
2,110,555
California (State of) School Finance Authority (Stem Preparatory Schools - Obligated Group);
      
 
 
Series 2023 A, RB(i)
 5.13%
06/01/2053
 
500
476,774
Series 2023 A, RB(i)
 5.38%
05/01/2063
 
1,000
968,778
California (State of) School Finance Authority (Value Schools);
      
 
 
Series 2016 A, RB(i)
 5.25%
07/01/2031
 
625
632,162
Series 2023 A, Ref. RB (CEP - Colorado Higher Education Intercept Program)(i)
 5.25%
07/01/2048
 
700
694,315
California (State of) School Finance Authority (Vibrant Minds Charter School);
      
 
 
Series 2025, RB(i)
 6.75%
04/15/2045
 
1,650
1,651,233
Series 2025, RB(i)
 7.00%
04/15/2055
 
3,000
3,007,689
California (State of) Statewide Communities Development Authority;
      
 
 
Series 2017, RB
 5.00%
09/02/2037
 
1,135
1,153,259
Series 2017, RB
 5.00%
09/02/2046
 
1,265
1,268,103
Series 2020 B, RB
 4.00%
09/02/2050
 
445
358,426
Series 2021 A, RB
 4.00%
09/02/2051
 
1,990
1,626,415
Series 2024, RB
 5.00%
09/01/2054
 
900
871,431
Series 2025, RB
 3.54%
02/20/2041
 
7,000
6,239,510
California (State of) Statewide Communities Development Authority (Adventist Health System);
      
 
 
Series 2015 A, Ref. RB
 5.00%
03/01/2033
 
775
778,948
Series 2018 A, Ref. RB
 5.00%
03/01/2042
 
1,185
1,178,245
Series 2018 A, Ref. RB
 5.00%
03/01/2048
 
1,860
1,803,936
California (State of) Statewide Communities Development Authority (Buck Institute for Research on
Aging); Series 2021, Ref. RB
 4.00%
04/01/2046
 
4,230
3,617,556
California (State of) Statewide Communities Development Authority (California Baptist University);
Series 2017 A, Ref. RB(i)
 5.00%
11/01/2041
 
875
837,346
California (State of) Statewide Communities Development Authority (Community Facilities District
No. 2007-01); Series 2015, Ref. RB
 5.00%
09/01/2037
 
1,500
1,502,448
California (State of) Statewide Communities Development Authority (Community Facilities District
No. 2015-1); Series 2020, RB
 4.00%
09/01/2050
 
3,500
2,871,138
California (State of) Statewide Communities Development Authority (Community Facilities District
No. 2016-02); Series 2020, RB
 4.00%
09/01/2050
 
2,465
2,030,597
California (State of) Statewide Communities Development Authority (Community Facilities District
No. 2018-02); Series 2020, RB(i)
 7.25%
09/01/2050
 
4,255
4,311,558
California (State of) Statewide Communities Development Authority (Community Facilities District
No. 2020-02); Series 2022, RB
 5.25%
09/01/2052
 
1,650
1,666,827
California (State of) Statewide Communities Development Authority (Delta Coves); Series 2022, RB
 5.50%
09/01/2052
 
3,065
3,136,628
California (State of) Statewide Communities Development Authority (Enloe Medical Center);
      
 
 
Series 2022 A, RB (INS - AGI)(b)
 5.25%
08/15/2052
 
3,000
3,044,905
Series 2022 A, RB (INS - AGI)(b)
 5.38%
08/15/2057
 
2,320
2,350,418
California (State of) Statewide Communities Development Authority (Front Porch Communities &
Services);
      
 
 
Series 2017 A, Ref. RB
 5.00%
04/01/2047
 
3,390
3,312,093
Series 2021, Ref. RB
 4.00%
04/01/2051
 
1,600
1,313,782
California (State of) Statewide Communities Development Authority (Heritage Park at Cathedral
City Apartments); Series 2002 NN-1, RB (INS - AMBAC)(b)(e)
 5.20%
06/01/2036
 
2,030
2,031,051
California (State of) Statewide Communities Development Authority (Improvement Area No. 1);
Series 2021, RB
 4.00%
09/01/2041
 
690
624,427
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 (Improvement Area No. 3);
      
 
 
Series 2024, RB
 5.00%
09/01/2049
 
$375
$374,698
Series 2024, RB
 5.00%
09/01/2054
 
550
545,600
California (State of) Statewide Communities Development Authority (Jewish Home of San
Francisco); Series 2016, RB (INS - Cal-Mortgage)(b)
 4.00%
11/01/2046
 
7,825
7,121,445
California (State of) Statewide Communities Development Authority (John Muir Health);
      
 
 
Series 2018 A, Ref. RB
 5.00%
12/01/2057
 
4,635
4,573,824
Series 2024 A, Ref. RB
 5.00%
12/01/2049
 
6,540
6,590,357
Series 2024 A, Ref. RB
 5.25%
12/01/2054
 
2,360
2,418,022
California (State of) Statewide Communities Development Authority (Lancer Educational Student
Housing);
      
 
 
Series 2016, Ref. RB(i)
 5.00%
06/01/2046
 
1,000
931,112
Series 2019, RB(i)
 5.00%
06/01/2034
 
375
380,962
Series 2019, RB(i)
 5.00%
06/01/2039
 
100
98,492
Series 2019, RB(i)
 5.00%
06/01/2051
 
295
269,189
California (State of) Statewide Communities Development Authority (Loma Linda University Medical
Center); Series 2016 A, RB(i)
 5.25%
12/01/2056
 
7,330
7,117,528
California (State of) Statewide Communities Development Authority (McSweeny);
      
 
 
Series 2023, RB
 5.00%
09/01/2048
 
1,350
1,333,242
Series 2023, RB
 5.25%
09/01/2053
 
2,225
2,241,045
California (State of) Statewide Communities Development Authority (Methodist Hospital of
Southern California); Series 2018, RB
 5.00%
01/01/2048
 
3,000
3,018,555
California (State of) Statewide Communities Development Authority (NCCD-Hooper Street LLC-
California College of the Arts);
      
 
 
Series 2019, RB(i)
 5.25%
07/01/2039
 
1,640
1,637,853
Series 2019, RB(i)
 5.25%
07/01/2049
 
3,375
3,225,118
California (State of) Statewide Communities Development Authority (Odd Fellows Home of
California); Series 2023, Ref. RB (INS - Cal-Mortgage)(b)
 4.13%
04/01/2053
 
1,000
919,908
California (State of) Statewide Communities Development Authority (Sand Creek); Series 2021, RB
 4.00%
09/01/2041
 
550
497,156
California (State of) Statewide Communities Development Authority (Statewide Community
Infrastructure Program);
      
 
 
Series 2021 C-1, RB
 4.00%
09/02/2041
 
2,185
1,886,232
Series 2022, RB
 5.38%
09/02/2052
 
995
1,003,606
Series 2023, RB
 5.25%
09/02/2043
 
1,125
1,123,131
Series 2023, RB
 5.25%
09/01/2051
 
2,400
2,424,464
Series 2023, RB
 5.50%
09/02/2053
 
1,875
1,876,011
Series 2024, RB
 5.00%
09/02/2049
 
1,100
1,102,480
Series 2024, RB
 5.00%
09/02/2054
 
1,100
1,094,531
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
1,200,562
California (State of) Statewide Communities Development Authority (Yucaipa Valley Water
Reservoir); Series 2014, RB
 6.00%
09/02/2044
 
2,570
2,570,311
California (State of) Statewide Financing Authority (Pooled Tobacco Securitization Program);
      
 
 
Series 2002 A, RB
 6.00%
05/01/2037
 
4,350
4,441,116
Series 2002 B, RB
 6.00%
05/01/2037
 
520
530,892
Series 2002 B, RB
 6.00%
05/01/2043
 
3,130
3,136,983
Series 2002, RB
 6.00%
05/01/2043
 
2,125
2,169,458
Series 2006 A, RB(d)
 0.00%
06/01/2046
 
8,000
1,984,806
California Community Choice Financing Authority (Clean Energy) (Green Bonds);
      
 
 
Series 2024, RB(h)
 5.00%
10/01/2032
 
5,000
5,210,308
Series 2025 A, RB(h)
 5.00%
05/01/2035
 
7,500
7,656,450
California Enterprise Development Authority; Series 2025, RB(g)
 5.50%
11/01/2059
 
22,500
24,311,770
Cambrian School District; Series 2022, GO Bonds
 5.00%
08/01/2048
 
7,505
7,741,633
Carson (City of), CA Public Financing Authority; Series 2019, RB
 5.00%
09/02/2030
 
545
580,687
Chino (City of), CA Community Facilities District;
      
 
 
Series 2020, RB
 4.00%
09/01/2040
 
170
158,437
Series 2024, RB
 5.00%
09/01/2049
 
675
663,289
Series 2024, RB
 5.00%
09/01/2054
 
740
718,672
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)
Chino (City of), CA Public Financing Authority;
      
 
 
Series 2015 A, Ref. RB (INS - AGI)(b)
 5.00%
09/01/2034
 
$1,100
$1,103,524
Series 2015 A, Ref. RB (INS - AGI)(b)
 5.00%
09/01/2035
 
865
867,580
Chino Valley Unified School District; Series 2020 B, GO Bonds
 5.00%
08/01/2055
 
10,995
11,212,956
Chino Valley Unified School District (Election of 2016); Series 2024 D, GO Bonds(d)
 0.00%
08/01/2047
 
12,750
4,282,243
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
1,483,806
Clovis (City of), CA Public Financing Authority; Series 2008 A, RB (INS - NATL)(b)
 4.63%
08/01/2029
 
30
30,037
Clovis Unified School District (Election of 2004); Series 2004 A, GO Bonds (INS - NATL)(b)(d)
 0.00%
08/01/2029
 
735
642,526
Coachella (City of), CA (Community Facilities District No. 2018-1);
      
 
 
Series 2018, RB(i)
 5.00%
09/01/2030
 
440
454,434
Series 2018, RB(i)
 5.00%
09/01/2038
 
1,090
1,106,947
Series 2018, RB(i)
 5.00%
09/01/2048
 
2,015
2,014,538
Series 2018, RB(i)
 5.00%
09/01/2053
 
1,525
1,488,724
Compton (City of), CA Public Finance Authority (Various Capital); Series 2008, Ref. RB (INS -
AMBAC)(b)
 5.25%
09/01/2027
 
635
635,465
Compton Unified School District;
      
 
 
Series 2019 B, GO Bonds (INS - BAM)(b)(d)
 0.00%
06/01/2035
 
1,300
863,796
Series 2019 B, GO Bonds (INS - BAM)(b)(d)
 0.00%
06/01/2041
 
6,250
2,909,077
Series 2019 B, GO Bonds (INS - BAM)(b)(d)
 0.00%
06/01/2042
 
4,335
1,888,412
Corona Community Facilities District (Bedford Improvement Area No. 1); Series 2024, RB
 5.00%
09/01/2054
 
1,600
1,592,046
CSCDA Community Improvement Authority (Renaissance at City Center); Series 2020 A, RB(i)
 5.00%
07/01/2051
 
3,250
2,944,127
Daly (City of), CA Housing Development Finance Agency (Franciscan Mobile Home Park Acquisition);
      
 
 
Series 2007 A, Ref. RB
 5.00%
12/15/2037
 
50
50,031
Series 2007 C, Ref. RB
 6.50%
12/15/2047
 
835
834,958
Dixon (City of), CA Improvement Area No. 1 (Community Facilities District No. 2019-1);
      
 
 
Series 2023, RB
 5.00%
09/01/2048
 
1,675
1,643,018
Series 2023, RB
 5.00%
09/01/2053
 
2,600
2,534,379
Eastern Municipal Water District;
      
 
 
Series 2025, RB
 5.00%
09/01/2050
 
1,000
981,650
Series 2025, RB
 5.00%
09/01/2054
 
500
485,589
Eastern Municipal Water District (Community Facilities District No. 2016-75);
      
 
 
Series 2021, RB
 4.00%
09/01/2030
 
75
74,969
Series 2021, RB
 4.00%
09/01/2050
 
540
447,467
Eastern Municipal Water District (Community Facilities District No. 2017-77);
      
 
 
Series 2023, RB
 5.25%
09/01/2048
 
1,100
1,117,485
Series 2023, RB
 5.25%
09/01/2053
 
1,385
1,385,766
El Centro (City of), CA Financing Authority (Police Station); Series 2023 A, RB
 4.25%
10/01/2047
 
2,000
1,900,695
El Dorado Irrigation District; Series 2020 A, COP
 4.00%
03/01/2050
 
15,330
13,552,013
El Segundo Unified School District (Election of 2008); Series 2009 A, GO Bonds(d)
 0.00%
08/01/2033
 
4,430
3,344,072
Elk Grove (City of), CA Finance Authority; Series 2024, RB
 5.00%
09/01/2051
 
1,700
1,702,885
Elsinore Valley Municipal Water District; Series 2021 A, RB(i)
 4.50%
09/01/2051
 
2,680
2,372,279
Fairfield (City of), CA Community Facilities District No. 2007-1 (Fairfield Commons); Series 2008,
RB
 6.88%
09/01/2038
 
865
870,663
Folsom Ranch Financing Authority Community Facilities District no. 23 (Improvement Area No. 1);
      
 
 
Series 2022, RB
 5.00%
09/01/2042
 
3,290
3,339,189
Series 2024, RB
 5.00%
09/01/2049
 
415
410,641
Fontana (City of), CA (The Gardens Phase One);
      
 
 
Series 2024, RB
 5.00%
09/01/2049
 
3,030
3,023,336
Series 2024, RB
 5.00%
09/01/2054
 
2,825
2,785,408
Fontana (City of), CA (The Meadows); Series 2020, RB
 4.00%
09/01/2050
 
5
4,230
Foothill-Eastern Transportation Corridor Agency;
      
 
 
Series 2014 A, Ref. RB
 6.85%
01/15/2042
 
1,000
1,137,121
Series 2015, Ref. RB (INS - AGI)(b)(d)
 0.00%
01/15/2035
 
2,745
1,929,083
Series 2021 A, Ref. RB (INS - BAM)(b)
 4.00%
01/15/2046
 
15,965
15,271,717
Series 2021 C, Ref. RB
 4.00%
01/15/2043
 
1,705
1,617,201
Fremont Community Facilities District No. 1 (Pacific Commons); Series 2015, Ref. RB
 5.00%
09/01/2035
 
815
815,858
Fresno (City of), CA; Series 2023 A, Ref. RB (INS - BAM)(b)(e)
 5.00%
07/01/2053
 
6,570
6,443,020
Garden Grove Public Financing Authority; Series 2024 A, RB (INS - BAM)(b)
 5.00%
04/01/2049
 
6,000
6,152,378
Gilroy Public Facilities Financing Authority; Series 2021 A, RB
 3.00%
08/01/2046
 
3,720
2,787,451
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)
Gilroy Unified School District (Election of 2008);
      
 
 
Series 2009 A, GO Bonds(d)(j)
 0.00%
08/01/2029
 
$615
$539,663
Series 2009 A, GO Bonds (INS - AGI)(b)(d)
 0.00%
08/01/2029
 
4,735
4,139,264
Series 2009 A, GO Bonds(d)(j)
 0.00%
08/01/2031
 
2,235
1,829,143
Series 2009 A, GO Bonds (INS - AGI)(b)(d)
 0.00%
08/01/2031
 
1,415
1,152,171
Golden State Tobacco Securitization Corp.; Series 2021 B-2, Ref. RB(d)
 0.00%
06/01/2066
 
21,000
2,261,736
Grossmont Healthcare District; Series 2015 D, Ref. GO Bonds(h)(j)
 4.00%
07/15/2025
 
13,000
13,015,544
Hemet Unified School District;
      
 
 
Series 2025, RB
 5.00%
09/01/2050
 
1,755
1,757,457
Series 2025, RB
 5.00%
09/01/2054
 
1,000
993,513
Hemet Unified School District (Community Facilities District No. 2022-02);
      
 
 
Series 2024, RB
 5.00%
09/01/2046
 
625
630,019
Series 2024, RB
 5.00%
09/01/2054
 
1,000
990,492
Hollister (City of), CA Redevelopment Agency Successor Agency (Hollister Community
Development); Series 2014, Ref. RB (INS - BAM)(b)
 5.00%
10/01/2030
 
1,600
1,602,457
Hollister Joint Powers Financing Authority; Series 2016, Ref. RB (INS - AGI)(b)
 5.00%
06/01/2036
 
1,270
1,293,047
Imperial (County of), CA (Community Facilities District No. 2004-2 - Improvement Area No. 1);
Series 2007, RB
 5.90%
09/01/2037
 
1,430
1,435,840
Imperial (County of), CA Community college District (Election of 2022); Series 2023 A, GO Bonds
(INS - AGI)(b)
 5.25%
08/01/2053
 
1,500
1,566,640
Inglewood Unified School District; Series 2019 C, GO Bonds (INS - BAM)(b)
 4.00%
08/01/2039
 
690
671,295
Irvine (City of), CA Community Facilities District No. 2013-3 (Great Park Improvement Area No.
10); Series 2023, RB (INS - BAM)(b)
 5.25%
09/01/2053
 
5,000
5,210,016
Irvine Unified School District (Community Facilities District No. 09-1); Series 2019 A, RB (INS -
BAM)(b)
 4.00%
09/01/2044
 
3,000
2,757,033
La Canada Irrigation District; Series 2025, COP
 5.25%
12/01/2055
 
2,000
2,052,128
Lake Elsinore (City of), CA;
      
 
 
Series 2021, RB
 4.00%
09/01/2041
 
350
315,641
Series 2021, RB
 4.00%
09/01/2046
 
450
387,254
Series 2021, RB
 4.00%
09/01/2051
 
700
577,283
Series 2024, RB
 5.00%
09/01/2054
 
1,000
982,997
Lake Elsinore (City of), CA (Nichols Ranch);
      
 
 
Series 2024, RB
 5.00%
09/01/2044
 
575
577,908
Series 2024, RB
 5.00%
09/01/2049
 
850
845,769
Series 2024, RB
 5.00%
09/01/2054
 
1,150
1,130,447
Lake Elsinore Unified School District Community Facilities District No. 2006-2 (Improvement Area
No. C); Series 2020, RB
 4.00%
09/01/2050
 
1,680
1,417,071
Lake Elsinore Unified School District Community Facilities District No. 2017-2; Series 2024, RB
 5.00%
09/01/2054
 
850
830,502
Lake Elsniore (City of), CA Community Facilities District No. 2006-1;
      
 
 
Series 2019, RB
 5.00%
09/01/2050
 
1,000
984,433
Series 2021, RB
 4.00%
09/01/2051
 
430
353,553
Lake Elsniore (City of), CA Community Facilities District No. 2006-1 (Improvement Area II);
      
 
 
Series 2020, RB
 4.00%
09/01/2040
 
760
696,583
Series 2020, RB
 4.00%
09/01/2045
 
835
724,135
Lammersville Joint Unified School District;
      
 
 
Series 2020, RB
 4.00%
09/01/2039
 
250
234,973
Series 2022, RB
 4.00%
09/01/2052
 
3,000
2,494,196
Lathrop (City of), CA (Community Facilities District No. 03-2); Series 2003, RB
 7.00%
09/01/2033
 
2,520
2,526,034
Lincoln (City of), CA Community Facilities District No. 2006-1 (Improvement Area No. 1);
Series 2021, Ref. RB
 4.00%
09/01/2043
 
320
285,021
Long Beach (City of), CA (Green Bonds); Series 2025, Ref. RB(e)
 5.00%
05/15/2055
 
2,850
2,809,245
Long Beach (City of), CA Bond Finance Authority;
      
 
 
Series 2007 A, RB
 5.50%
11/15/2028
 
50
52,644
Series 2007 A, RB
 5.50%
11/15/2030
 
1,010
1,084,152
Series 2007 A, RB
 5.50%
11/15/2037
 
1,000
1,098,461
Los Alamitos Unified School District; Series 2013, GO Bonds(m)
 6.01%
08/01/2040
 
1,660
1,721,127
Los Alamitos Unified School District (Capital); Series 2012, COP
 5.95%
08/01/2034
 
1,200
1,314,987
Los Angeles (City of), CA Community Facilities District No. 11 (Ponte Vista); Series 2021, RB
 4.00%
09/01/2046
 
1,650
1,400,833
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)
Los Angeles (City of), CA Department of Airports;
      
 
 
Series 2018, RB(e)(g)
 5.00%
05/15/2035
 
$11,410
$11,738,779
Series 2018, RB(e)(g)
 5.00%
05/15/2036
 
10,640
10,904,056
Series 2019 A, Ref. RB(e)
 5.00%
05/15/2049
 
16,710
16,355,080
Series 2021, Ref. RB(e)
 5.00%
05/15/2035
 
3,500
3,660,945
Series 2021, Ref. RB(e)
 4.00%
05/15/2046
 
6,400
5,620,112
Series 2022 A, RB(e)
 5.00%
05/15/2045
 
12,875
12,893,647
Los Angeles (City of), CA Department of Airports (Los Angeles International Airport);
      
 
 
Series 2018 A, RB(e)
 5.25%
05/15/2048
 
5,800
5,829,539
Series 2018, Ref. RB(e)
 5.00%
05/15/2048
 
4,395
4,317,682
Series 2019, RB(e)
 5.00%
05/15/2049
 
19,745
19,325,616
Series 2020 C, RB(e)
 5.00%
05/15/2045
 
8,000
8,008,595
Series 2022, RB(e)
 4.00%
05/15/2047
 
10,000
8,704,651
Los Angeles (City of), CA Department of Water & Power;
      
 
 
Series 2017 C, RB
 5.00%
07/01/2047
 
21,000
20,705,267
Series 2020 B, Ref. RB
 5.00%
07/01/2050
 
8,000
7,988,450
Series 2021 B, Ref. RB
 5.00%
07/01/2048
 
17,555
17,621,144
Series 2021 B, Ref. RB
 5.00%
07/01/2051
 
10,165
10,112,011
Series 2022 B, Ref. RB
 5.00%
07/01/2052
 
6,500
6,462,805
Series 2023 C-1, VRD RB(c)(j)
 3.10%
06/02/2025
 
3,000
3,000,000
Series 2025 A, Ref. RB (INS - BAM)(b)
 5.00%
07/01/2053
 
5,000
5,060,410
Los Angeles (County of), CA Community Facilities District No. 2021-01 (Valencia Facilities);
      
 
 
Series 2022, RB
 5.00%
09/01/2052
 
2,000
1,994,333
Series 2024, RB
 5.00%
09/01/2054
 
2,700
2,638,066
Los Angeles (County of), CA Metropolitan Transportation Authority (Prop C); Series 2021 A, RB
 5.00%
07/01/2042
 
6,055
6,382,569
Los Angeles (County of), CA Public Works Financing Authority; Series 2024 H, Ref. RB
 5.25%
12/01/2053
 
7,510
7,840,836
Los Angeles County Facilities 2, Inc.; Series 2024 A, RB
 5.25%
06/01/2054
 
7,500
7,843,420
Los Angeles Unified School District (Green Bonds); Series 2024 QRR, GO Bonds
 5.25%
07/01/2049
 
5,000
5,263,113
Madera (County of), CA (Valley Children’s Hospital); Series 1995, COP (INS - NATL)(b)
 5.75%
03/15/2028
 
55
56,787
Madera (County of), CA Community Facilities District No. 2017-1 (Tesoro Viejo);
      
 
 
Series 2020, RB
 4.00%
09/01/2045
 
2,060
1,736,145
Series 2020, RB
 4.00%
09/01/2051
 
3,560
2,860,100
Manteca (City of), CA (Community Facilities District No. 2023-1); Series 2024, RB
 5.00%
09/01/2054
 
1,500
1,476,734
Marina (City of), CA Redevelopment Agency Successor Agency;
      
 
 
Series 2018 B, RB
 5.00%
09/01/2038
 
250
253,962
Series 2020 A, RB
 4.00%
09/01/2040
 
700
637,333
Series 2020 B, RB
 4.00%
09/01/2040
 
700
614,789
Menifee (City of), CA;
      
 
 
Series 2024, RB
 5.00%
09/01/2049
 
825
818,610
Series 2024, RB
 5.00%
09/01/2054
 
1,000
972,644
Series 2024, RB
 5.00%
09/01/2055
 
2,500
2,419,039
Series 2025, RB
 5.00%
09/01/2050
 
605
592,222
Series 2025, RB
 5.00%
09/01/2055
 
860
830,880
Menifee Union School District;
      
 
 
Series 2020 C, GO Bonds (INS - AGI)(b)
 3.00%
08/01/2038
 
1,500
1,305,955
Series 2020 C, GO Bonds (INS - AGI)(b)
 3.00%
08/01/2045
 
2,200
1,672,717
Menifee Union School District (Community Facilities District No. 2006-2); Series 2020, Ref. RB
 4.00%
09/01/2045
 
705
621,192
Menifee Union School District (Community Facilities District No. 2011-1 - Improvement Area No.
3); Series 2018, RB
 5.00%
09/01/2048
 
1,500
1,506,076
Menifee Union School District (Election of 2008); Series 2009 C, GO Bonds (INS - AGI)(b)(d)
 0.00%
08/01/2035
 
940
645,020
Menifee Union School District Public Financing Authority; Series 2017 A, RB (INS - NATL)(b)
 5.00%
09/01/2033
 
1,000
1,019,322
Merced City School District (Election of 2014); Series 2022, GO Bonds (INS - AGI)(b)
 4.00%
08/01/2046
 
3,500
3,235,405
Moorpark Unified School District (Election of 2008); Series 2009 A, GO Bonds (INS - AGI)(b)(d)
 0.00%
08/01/2031
 
840
679,018
Moreno Valley Unified School District (Community Facilities District No. 2004-4); Series 2015, RB
 5.00%
09/01/2045
 
2,050
2,050,319
Moreno Valley Unified School District (Community Facilities District No. 2015-2);
      
 
 
Series 2019, RB
 5.00%
09/01/2044
 
435
437,033
Series 2019, RB
 5.00%
09/01/2048
 
485
485,666
Moreno Valley Unified School District (Community Facilities District No. 2023-1); Series 2025, RB
 5.00%
09/01/2055
 
1,305
1,266,608
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)
Mountain House Public Financing Authority (Green Bonds);
      
 
 
Series 2020 A, RB (INS - BAM)(b)
 4.00%
12/01/2050
 
$4,985
$4,462,268
Series 2020 A, RB (INS - BAM)(b)
 4.00%
12/01/2055
 
12,045
10,610,904
Series 2023, RB (INS - BAM)(b)
 4.13%
12/01/2048
 
2,125
1,984,068
Mt. San Antonio Community College District (Election of 2018); Series 2019 A, GO Bonds
 5.00%
08/01/2044
 
5,000
5,154,882
Murrieta (City of), CA (Community Facilities District No. 2005-5); Series 2017, RB
 5.00%
09/01/2042
 
655
658,785
Norco (City of), CA Community Redevelopment Agency Successor Agency (Project Area No. 1);
Series 2014, Ref. RB (INS - BAM)(b)
 5.00%
03/01/2030
 
1,500
1,502,638
North Orange (County of), CA Community College District; Series 2022 C, GO Bonds(g)(n)
 4.00%
08/01/2047
 
22,000
20,447,442
Northern California Energy Authority; Series 2024, Ref. RB(h)
 5.00%
08/01/2030
 
15,000
15,677,016
Northern California Tobacco Securitization Authority;
      
 
 
Series 2021 A, Ref. RB
 4.00%
06/01/2049
 
9,255
7,889,184
Series 2021 B-1, Ref. RB
 4.00%
06/01/2049
 
485
450,307
Oak Grove School District (Election of 2008);
      
 
 
Series 2018 E, Ref. GO Bonds(m)
 5.00%
08/01/2038
 
8,680
5,235,644
Series 2018 E, Ref. GO Bonds(m)
 5.00%
08/01/2042
 
5,755
3,361,735
Ontario (City of), CA;
      
 
 
Series 2023, RB
 5.50%
09/01/2048
 
1,250
1,300,184
Series 2023, RB
 5.75%
09/01/2054
 
2,250
2,359,280
Ontario (City of), CA (Countryside Phase 2 South-Facilities);
      
 
 
Series 2024, RB
 5.00%
09/01/2044
 
750
756,010
Series 2024, RB
 5.00%
09/01/2049
 
1,000
1,000,273
Series 2024, RB
 5.00%
09/01/2054
 
1,180
1,165,231
Ontario (City of), CA Community Facilities District No. 25 (Park Place Facilities Phase II);
Series 2019, RB
 5.00%
09/01/2049
 
1,000
996,410
Ontario (City of), CA Community Facilities District No. 40 (Emerald Park Facilities); Series 2020,
RB
 4.00%
09/01/2050
 
780
634,108
Ontario (City of), CA Community Facilities District No. 45; Series 2020, RB
 4.00%
09/01/2043
 
280
250,329
Ontario (City of), CA Community Facilities District No. 64; Series 2024, RB
 5.00%
09/01/2055
 
2,995
2,970,110
Orange (County of), CA Community Facilities District No. 2015-1 (Esencia Village);
      
 
 
Series 2015 A, RB
 5.00%
08/15/2035
 
125
125,219
Series 2015 A, RB
 5.25%
08/15/2045
 
1,810
1,809,870
Orange (County of), CA Community Facilities District No. 2016-1 (Village of Esencia); Series 2016
A, RB
 5.00%
08/15/2031
 
1,350
1,372,607
Orange (County of), CA Community Facilities District No. 2021-1 (Ladera Ranch); Series 2022 A,
RB
 5.00%
08/15/2052
 
1,000
1,004,810
Oxnard (City of), CA Financing Authority; Series 2014, Ref. RB (INS - AGI)(b)
 5.00%
06/01/2034
 
850
851,009
Palm Desert (City of), CA Financing Authority (Project Area No. 2); Series 2003, RB (INS - NATL)(b)
 5.00%
08/01/2033
 
40
40,157
Palomar Community College District (Election of 2006); Series 2010, GO Bonds(m)
 6.38%
08/01/2045
 
3,330
2,957,487
Palomar Health;
      
 
 
Series 2017, COP
 4.00%
11/01/2047
 
3,185
2,032,067
Series 2017, Ref. RB
 5.00%
11/01/2042
 
4,835
3,719,780
Paradise Unified School District; Series 2023 C, GO Bonds
 5.00%
08/01/2047
 
180
182,688
Perris (City of), CA Joint Powers Authority;
      
 
 
Series 2024, Ref. RB
 5.00%
09/01/2033
 
1,190
1,272,811
Series 2025, RB
 5.00%
09/01/2050
 
1,500
1,466,246
Series 2025, RB
 5.00%
09/01/2054
 
1,500
1,454,574
Perris Elementary School District (Election of 2014); Series 2014 A, GO Bonds(h)(j)
 6.00%
07/03/2025
 
525
526,282
Piedmont Unified School District; Series 2019, GO Bonds
 3.00%
08/01/2045
 
75
58,347
Pittsburg Unified School District Financing Authority (Pittsburg Unified School District Bond
Program); Series 2019, RB (INS - AGI)(b)
 5.00%
09/01/2047
 
5,000
5,062,328
Poway Unified School District (Del Sur East II); Series 2020, RB (INS - AGI)(b)
 4.00%
09/01/2050
 
4,255
3,774,193
Poway Unified School District Public Financing Authority; Series 2015 B, Ref. RB (INS - BAM)(b)
 5.00%
09/01/2035
 
1,930
1,932,498
Rancho Cordova (City of), CA (Community Facilities District No. 2014-1);
      
 
 
Series 2021, RB
 4.00%
09/01/2041
 
390
347,276
Series 2021, RB
 4.00%
09/01/2046
 
585
495,989
Series 2021, RB
 4.00%
09/01/2050
 
500
408,870
Rancho Cordova (City of), CA (Community Facilities District No. 2018-1);
      
 
 
Series 2021, RB
 4.00%
09/01/2046
 
225
192,841
Series 2021, RB
 4.00%
09/01/2050
 
200
165,728
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)
Rancho Cordova (City of), CA (Community Facilities District No. 2022-1); Series 2023, RB
 5.38%
09/01/2053
 
$1,300
$1,322,083
Rancho Cordova (City of), CA (Community Facilities District No. 2023-1); Series 2024, RB
 5.00%
09/01/2054
 
1,500
1,476,734
Ravenswood School District; Series 2018, GO Bonds
 5.00%
08/01/2035
 
750
763,769
Redlands Unified School District (Community Facilities District No. 2006-1); Series 2020, RB
 4.00%
09/01/2050
 
400
329,024
Regents of the University of California Medical Center; Series 2022 P, RB(g)
 5.00%
05/15/2047
 
30,280
30,930,735
Regents of the University of California Medical Center Pooled Revenue; Series 2025, RB(g)(n)
 4.00%
05/15/2053
 
25,000
21,625,970
Rialto Unified School District;
      
 
 
Series 2019 A, GO Bonds (INS - BAM)(b)(d)
 0.00%
08/01/2042
 
8,125
3,597,862
Series 2019 A, GO Bonds (INS - BAM)(b)(d)
 0.00%
08/01/2043
 
4,500
1,892,178
Rio Hondo Community College District (Election of 2004); Series 2010 C, GO Bonds
 6.63%
08/01/2042
 
10,530
12,747,322
River Islands Public Financing Authority;
      
 
 
Series 2022 A-1, Ref. RB (INS - AGI)(b)
 5.25%
09/01/2052
 
10,365
10,588,557
Series 2022, RB (INS - AGI)(b)
 5.25%
09/01/2052
 
2,000
2,043,137
Riverside (City of), CA (Community Facilities District No. 92-1); Series 2005 A, RB
 5.30%
09/01/2034
 
1,050
1,053,422
Riverside (County of), CA Community Facilities District No. 07-2 (Clinton Keith);
      
 
 
Series 2015, RB
 5.00%
09/01/2044
 
1,000
984,113
Series 2017, RB
 5.00%
09/01/2045
 
535
535,019
Riverside (County of), CA Public Financing Authority (Desert Communities and Interstate 215
Corridor); Series 2017 A, Ref. RB (INS - BAM)(b)
 4.00%
10/01/2040
 
500
474,621
Riverside (County of), CA Transportation Commission; Series 2021 B-1, Ref. RB
 4.00%
06/01/2046
 
16,545
14,765,713
Riverside Unified School District (Community Facilities District No. 32);
      
 
 
Series 2020, RB
 4.00%
09/01/2045
 
290
251,829
Series 2020, RB
 4.00%
09/01/2050
 
610
507,716
Riverside Unified School District (Community Facilities District No. 33);
      
 
 
Series 2021, RB
 4.00%
09/01/2041
 
275
247,431
Series 2021, RB
 4.00%
09/01/2050
 
600
499,392
Riverside Unified School District (Community Facilities District No. 40);
      
 
 
Series 2025 A, RB
 5.00%
09/01/2050
 
2,370
2,329,806
Series 2025 A, RB
 5.00%
09/01/2055
 
2,000
1,944,126
Riverside Unified School District (Improvement Area No. 1); Series 2024, RB
 5.00%
09/01/2054
 
1,270
1,237,124
Riverside Unified School District (Improvement Area No. 2); Series 2024, RB
 5.00%
09/01/2054
 
770
750,067
Romoland School District (Underwood);
      
 
 
Series 2023, RB
 5.00%
09/01/2046
 
370
373,208
Series 2023, RB
 5.00%
09/01/2054
 
1,090
1,077,995
Romoland School District Community Facilities No. 2004-1; Series 2015, Ref. RB
 5.00%
09/01/2038
 
1,000
1,001,461
Romoland School District Community Facilities No. 2020-1; Series 2024, RB
 5.00%
09/01/2054
 
1,000
984,489
Romoland School District Community Facilities No. 2022-2;
      
 
 
Series 2024, RB
 5.00%
09/01/2044
 
375
376,620
Series 2024, RB
 5.00%
09/01/2049
 
775
768,997
Series 2024, RB
 5.00%
09/01/2054
 
860
840,273
Root Creek Water District Community Facilities District No. 2016-1 Improvement Area No. 1;
      
 
 
Series 2021, RB
 4.00%
09/01/2050
 
570
477,239
Series 2025, RB
 5.13%
09/01/2050
 
1,240
1,220,098
Root Creek Water District Community Facilities District No. 2016-1 Improvement Area No. 2;
Series 2021, RB
 4.00%
09/01/2050
 
930
778,653
Roseville (City of), CA; Series 2023, RB
 6.00%
09/01/2053
 
1,500
1,571,276
Roseville (City of), CA (Amoruso Ranch Community Facilities District No. 1);
      
 
 
Series 2024, RB
 5.00%
09/01/2049
 
1,125
1,093,314
Series 2024, RB
 5.00%
09/01/2054
 
1,500
1,437,196
Roseville (City of), CA (Ranch at Sierra Vista Community Facilities District No. 1 - Public Facilities);
      
 
 
Series 2020, RB
 4.00%
09/01/2045
 
450
390,769
Series 2020, RB
 4.00%
09/01/2050
 
1,000
836,022
Roseville (City of), CA (Villages at Sierra Vista Community Facilities District No. 1 - Public
Facilities);
      
 
 
Series 2020, RB
 4.00%
09/01/2039
 
375
347,629
Series 2020, RB
 4.00%
09/01/2045
 
350
303,931
Series 2020, RB
 4.00%
09/01/2050
 
475
397,111
Roseville (City of), CA (Westpark-Federico Community Facilities District);
      
 
 
Series 2022, RB
 5.00%
09/01/2043
 
1,830
1,851,650
Series 2022, RB
 5.00%
09/01/2052
 
2,760
2,735,981
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)
Sacramento (City of), CA (Convention Center Complex); Series 2018 A, RB
 5.00%
06/01/2048
 
$2,000
$2,003,238
Sacramento (City of), CA (Greenbriar Community Facilities District No. 2018-03, Improvement
Area No. 2); Series 2024, RB
 5.00%
09/01/2054
 
1,000
941,134
Sacramento (City of), CA (North Natomas Community Facilities District No. 4);
      
 
 
Series 2015, Ref. RB
 5.00%
09/01/2032
 
1,290
1,293,363
Series 2015, Ref. RB
 5.00%
09/01/2033
 
1,075
1,077,605
Sacramento (City of), CA Municipal Utility District (Green Bonds); Series 2020 H, RB
 4.00%
08/15/2045
 
5,000
4,590,564
Sacramento (County of), CA;
      
 
 
Series 2018 C, Ref. RB(e)
 5.00%
07/01/2039
 
2,835
2,850,857
Series 2024, RB
 5.00%
07/01/2054
 
7,500
7,629,982
Sacramento (County of), CA Water Financing Authority; Series 2025, RB
 5.00%
06/01/2055
 
15,000
15,594,312
San Bernardino (City of), CA;
      
 
 
Series 2022, RB
 5.13%
09/01/2047
 
555
557,576
Series 2022, RB
 5.25%
09/01/2052
 
680
672,298
San Diego (County of), CA Redevelopment Agency (Gillespie Field); Series 2005 A, Ref. RB(e)
 5.75%
12/01/2032
 
2,700
2,704,019
San Diego (County of), CA Regional Airport Authority;
      
 
 
Series 2019 B, Ref. RB(e)
 5.00%
07/01/2049
 
4,325
4,232,818
Series 2021 A, RB
 4.00%
07/01/2056
 
5,130
4,468,049
Series 2021 A, RB
 5.00%
07/01/2056
 
2,880
2,907,924
Series 2021 B, RB(e)
 4.00%
07/01/2056
 
10,145
8,341,078
Series 2021 B, RB(e)
 5.00%
07/01/2056
 
23,740
23,322,093
Series 2023 B, RB(e)
 5.00%
07/01/2053
 
5,000
4,940,024
Series 2023 B, RB(e)
 5.25%
07/01/2058
 
9,000
9,157,610
San Diego Unified School District; Series 2022, GO Bonds(g)
 4.25%
07/01/2052
 
17,500
16,379,809
San Diego Unified School District (Election of 2018) (Green Bonds); Series 2023, GO Bonds
 4.00%
07/01/2053
 
15,000
13,413,801
San Francisco (City & County of), CA Airport Commission (San Francisco International Airport);
      
 
 
Second Series 2018 D, RB(e)(h)(j)
 5.00%
05/01/2028
 
10
10,337
Second Series 2018 D, RB(e)
 5.00%
05/01/2048
 
11,280
11,051,758
Second Series 2022 B, Ref. RB
 4.00%
05/01/2052
 
3,345
2,943,531
Series 2018 D, RB(e)
 5.25%
05/01/2048
 
6,200
6,219,423
Series 2019 A, RB(e)
 5.00%
05/01/2049
 
47,500
46,876,695
Series 2019 E, RB(e)
 4.00%
05/01/2050
 
11,445
9,723,189
Series 2019 E, RB(e)
 5.00%
05/01/2050
 
3,080
3,028,211
Series 2024, Ref. RB(e)
 5.25%
05/01/2043
 
5,000
5,163,768
Series 2025 A, RB(e)
 5.25%
05/01/2055
 
5,000
5,060,123
San Francisco (City & County of), CA Community Facilities District No. 2016-1;
      
 
 
Series 2020, RB
 4.00%
09/01/2042
 
550
478,102
Series 2020, RB
 4.00%
09/01/2050
 
1,025
824,804
Series 2023, RB(i)
 5.25%
09/01/2048
 
960
965,593
Series 2023, RB(i)
 5.50%
09/01/2053
 
2,050
2,090,591
San Francisco (City & County of), CA Community Facilities District No. 2016-1 (Treasure Island);
Series 2022, RB(i)
 4.00%
09/01/2052
 
2,000
1,600,655
San Francisco (City & County of), CA Infrastructure & Revitalization Financing District No. 1;
      
 
 
Series 2022 A, RB(i)
 5.00%
09/01/2037
 
385
396,072
Series 2022 A, RB(i)
 5.00%
09/01/2052
 
2,000
1,838,697
Series 2022 B, RB(i)
 5.00%
09/01/2052
 
1,000
902,555
Series 2023 B, RB(i)
 5.50%
09/01/2053
 
1,550
1,479,341
San Francisco (City & County of), CA Public Utilities Commission (Green Bonds); Series 2021 A, RB
 4.00%
10/01/2048
 
10,000
8,953,117
San Francisco (City & County of), CA Special Tax District No. 2020-1;
      
 
 
Series 2023, RB(i)
 5.75%
09/01/2050
 
850
879,232
Series 2023, RB(i)
 5.75%
09/01/2053
 
1,800
1,856,978
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
 
2,555
2,555,241
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
2,808,199
San Francisco (City & County of), CA Successor Agency to the Redevelopment Agency (Transbay
Infrastructure);
      
 
 
Series 2023, RB (INS - AGI)(b)
 5.00%
08/01/2048
 
2,250
2,306,660
Series 2023, RB (INS - AGI)(b)
 5.25%
08/01/2053
 
2,375
2,457,569
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 Francisco City & County Airport Comm-San Francisco International Airport; Series 2025,
RB(e)(g)(n)
 5.50%
05/01/2055
 
$10,000
$10,383,948
San Francisco City & County Public Utilities Commission Wastewater Revenue; Series 2025, RB(g)
 5.00%
10/01/2054
 
4,755
4,878,749
San Jacinto Unified School District (Community Facilities District No. 2020-1); Series 2022, RB
 4.00%
09/01/2052
 
760
600,056
San Jacinto Unified School District Financing Authority; Series 2017, Ref. RB
 5.00%
09/01/2043
 
160
160,515
San Joaquin Hills Transportation Corridor Agency; Series 2014 B, Ref. RB
 5.25%
01/15/2044
 
635
635,099
San Joaquin Valley Clean Energy Authority (Green Bonds); Series 2025, RB(h)
 5.50%
07/01/2035
 
10,000
10,842,186
San Jose (City of), CA; Series 2017 A, Ref. RB(e)
 5.00%
03/01/2047
 
12,260
12,041,522
San Jose (City of), CA (El Parador Apartments); Series 2000 A, RB(e)
 6.20%
01/01/2041
 
3,150
3,096,882
San Jose Evergreen Community College District (Election of 2004); Series 2008 B, GO Bonds (INS
- AGI)(b)(d)
 0.00%
09/01/2031
 
3,110
2,557,109
San Leandro Unified School District (Election of 2020); Series 2022 B, GO Bonds
 5.25%
08/01/2048
 
11,700
12,165,360
San Luis Obispo (County of), CA Financing Authority (Lopez Dam Improvement); Series 2011 A,
Ref. RB (INS - AGI)(b)
 5.00%
08/01/2030
 
1,500
1,501,746
San Marcos Unified School District (Community Facilities District No. 7); Series 2019, RB
 5.00%
09/01/2048
 
750
750,362
San Mateo Foster City School District (Election of 2008); Series 2010, GO Bonds(m)
 6.63%
08/01/2042
 
1,010
1,073,971
Santa Barbara (County of), CA; Series 2018 B, COP(e)
 5.00%
12/01/2037
 
5,000
5,109,740
Santa Clara (County of), CA Housing Authority (Rivertown Apartments);
      
 
 
Series 2001 A, RB(e)
 5.85%
08/01/2031
 
715
716,197
Series 2001 A, RB(e)
 6.00%
08/01/2041
 
2,070
2,111,996
Santa Clarita Community College District; Series 2019, GO Bonds
 3.00%
08/01/2044
 
1,410
1,080,821
Santa Monica (City of), CA Redevelopment Agency;
      
 
 
Series 2011, RB
 5.88%
07/01/2036
 
1,750
1,754,086
Series 2011, RB
 5.88%
07/01/2042
 
2,600
2,605,158
Sebastopol Union School District; Series 2020 A, GO Bonds
 4.00%
08/01/2041
 
500
471,239
Signal Hill (City of), CA Redevelopment Agency Successor Agency (Signal Hill Redevelopment
Project No. 1); Series 2011, RB
 7.00%
10/01/2026
 
710
712,001
Silicon Valley Tobacco Securitization Authority (Santa Clara);
      
 
 
Series 2007 A, RB(d)
 0.00%
06/01/2036
 
22,420
12,180,952
Series 2007 A, RB(d)
 0.00%
06/01/2041
 
10,000
3,566,410
Series 2007 B, RB(d)
 0.00%
06/01/2047
 
12,650
2,968,307
Series 2007 C, RB(d)
 0.00%
06/01/2056
 
65,815
6,403,339
Simi Valley Unified School District (Election of 2004);
      
 
 
Series 2007 C, GO Bonds (INS - AGI)(b)(d)
 0.00%
08/01/2028
 
3,480
3,165,588
Series 2007 C, GO Bonds (INS - AGI)(b)(d)
 0.00%
08/01/2030
 
2,765
2,353,483
South El Monte (City of), CA Improvement District Successor Agency; Series 2015 A, Ref. RB (INS -
AGI)(b)
 5.00%
08/01/2035
 
4,150
4,161,228
South Orange (County of), CA Public Financing Authority (County of Orange Sheriff-Coroner);
Series 2022, RB
 5.00%
06/01/2052
 
10,000
10,346,625
Southern California Public Power Authority (No.1);
      
 
 
Series 2007 A, RB
 5.25%
11/01/2026
 
250
254,057
Series 2007 A, RB
 5.25%
11/01/2027
 
2,255
2,313,524
Series 2007 A, RB
 5.00%
11/01/2028
 
205
210,313
Series 2007 A, RB
 5.00%
11/01/2029
 
165
170,135
Series 2007 A, RB
 5.00%
11/01/2033
 
2,085
2,186,189
Southern California Tobacco Securitization Authority (San Diego County Asset Securitization
Corp.);
      
 
 
Series 2006, RB(d)
 0.00%
06/01/2046
 
3,000
577,851
Series 2019, Ref. RB
 5.00%
06/01/2039
 
750
760,238
Series 2019, Ref. RB
 5.00%
06/01/2048
 
2,160
2,055,166
Series 2019, Ref. RB(d)
 0.00%
06/01/2054
 
27,610
5,549,773
Stockton (City of), CA Community Facilities District (Westlake Villages II);
      
 
 
Series 2022, RB
 5.13%
09/01/2052
 
1,800
1,808,109
Series 2024, RB
 5.00%
09/01/2049
 
525
526,301
Series 2024, RB
 5.00%
09/01/2054
 
625
621,893
Sulphur Springs Union School District;
      
 
 
Series 2020, RB
 4.00%
09/01/2050
 
1,225
1,015,086
Series 2024 A, RB
 5.00%
09/01/2049
 
1,000
985,381
Series 2024 A, RB
 5.00%
09/01/2054
 
2,750
2,695,062
Susanville (City of), CA (Natural Gas Enterprise Ref.); Series 2019, Ref. RB (INS - AGI)(b)
 4.00%
06/01/2045
 
1,000
923,557
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)
Tahoe-Truckee Unified School District; Series 2016 B, GO Bonds
 5.00%
08/01/2041
 
$950
$965,153
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
 
5,750
4,828,544
Series 2024, Ref. RB
 5.00%
09/01/2054
 
3,450
3,315,477
Temecula Public Financing Authority; Series 2024, RB
 5.00%
09/01/2054
 
900
902,215
Temecula Valley Unified School District Community Facilities District (Community Facilities District
No. 2021-1);
      
 
 
Series 2024, RB
 5.00%
09/01/2044
 
285
279,789
Series 2024, RB
 5.00%
09/01/2049
 
500
485,247
Series 2024, RB
 5.00%
09/01/2054
 
350
336,858
Temescal Valley Water District;
      
 
 
Series 2021, RB
 4.00%
09/01/2046
 
500
436,771
Series 2021, RB
 4.00%
09/01/2051
 
930
777,431
Series 2024, RB
 5.00%
09/01/2044
 
600
607,035
Tender Option Bond Trust Receipts/Certificates;
      
 
 
Series 2025, GO Bonds(g)
 4.13%
03/01/2049
 
4,500
4,189,649
Series 2025, GO Bonds(g)
 5.00%
08/01/2049
 
8,000
8,253,555
Series 2025, GO Bonds(g)
 5.00%
03/01/2055
 
7,500
7,802,728
Series 2025, RB(g)(h)
 5.25%
01/04/2030
 
16,000
16,823,929
Series 2025, RB(g)
 5.00%
03/01/2031
 
12,250
12,814,061
Series 2025, RB(g)
 5.25%
10/01/2048
 
8,000
8,441,378
Series 2025, RB(g)
 5.00%
04/01/2050
 
8,000
8,256,750
Series 2025, RB (INS - AGI)(b)(g)
 5.00%
08/01/2052
 
13,580
13,933,614
Series 2025, RB(g)
 5.00%
10/01/2054
 
11,865
12,173,787
Series 2025, RB(g)
 5.00%
10/15/2054
 
12,500
12,788,361
Series 2025, RB(e)(g)(n)
 5.50%
05/15/2055
 
10,000
10,433,123
Series 2025, RB(g)
 5.00%
06/01/2055
 
12,500
12,823,083
Series 2025, RB(g)
 5.00%
10/01/2055
 
7,500
7,766,866
Series 2025, RB(g)
 5.50%
11/01/2055
 
15,000
16,171,935
Three Rivers Levee Improvement Authority (Community Facilities District No. 2006-1);
Series 2021, Ref. RB
 4.00%
09/01/2051
 
2,500
2,037,154
Torrance Unified School District (Election of 2008-Measure Z); Series 2009, GO Bonds(d)
 0.00%
08/01/2034
 
3,395
2,162,127
Tracy (City of), CA Community Facilities District No. 21-1(Hillview);
      
 
 
Series 2022, RB
 5.00%
09/01/2042
 
1,905
1,918,381
Series 2022, RB
 5.00%
09/01/2052
 
2,400
2,344,418
Transbay Joint Powers Authority (Green Bonds);
      
 
 
Series 2020 A, RB
 5.00%
10/01/2045
 
1,500
1,456,168
Series 2020 A, RB
 5.00%
10/01/2049
 
4,300
4,115,835
Series 2020 B, RB
 5.00%
10/01/2035
 
250
255,014
Series 2020 B, RB
 5.00%
10/01/2038
 
300
301,177
Tustin Unified School District (Community Facilities District No. 97-1); Series 2015 A, Ref. RB (INS
- BAM)(b)
 5.00%
09/01/2038
 
2,000
2,004,485
University of California;
      
 
 
Series 2017, RB(g)
 5.00%
05/15/2047
 
15,000
15,117,057
Series 2018 AZ, Ref. RB
 5.00%
05/15/2048
 
20,000
20,222,948
Series 2020 BE, Ref. RB
 4.00%
05/15/2050
 
12,000
10,821,659
Series 2025 CC, RB
 5.00%
05/15/2053
 
7,500
7,743,073
Series 2025 CC, RB
 5.25%
05/15/2055
 
10,000
10,535,896
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
1,031,141
Series 2015, Ref. RB
 5.00%
09/01/2030
 
1,080
1,081,077
Upland (City of), CA Community Facilities District No. 2015-1 (Improvement Area No. 1);
Series 2019 A, RB
 4.00%
09/01/2049
 
750
625,344
Upland (City of), CA Community Facilities District No. 2016-1 (Improvement Area No. 2);
      
 
 
Series 2021 A, RB
 4.00%
09/01/2040
 
260
236,461
Series 2021 A, RB
 4.00%
09/01/2045
 
165
139,476
Series 2021 A, RB
 4.00%
09/01/2051
 
260
208,884
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
945,920
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)
Valley (City of), CA Sanitary District; Series 2005, RB
 5.20%
09/02/2030
 
$1,320
$1,325,152
Victorville (City of), CA (Community Facilities District No. 07-01); Series 2012 A, RB
 5.35%
09/01/2042
 
485
485,620
Washington Township Health Care District;
      
 
 
Series 2023 A, RB
 5.00%
07/01/2043
 
250
242,648
Series 2023 A, RB
 5.75%
07/01/2048
 
500
522,589
Series 2023 A, RB
 5.75%
07/01/2053
 
1,000
1,027,870
Washington Township Health Care District (Election of 2020);
      
 
 
Series 2023 B, GO Bonds
 5.25%
08/01/2048
 
1,625
1,723,902
Series 2023 B, GO Bonds
 5.50%
08/01/2053
 
2,500
2,646,183
West Contra Costa Unified School District;
      
 
 
Series 2005, GO Bonds (INS - NATL)(b)(d)
 0.00%
08/01/2025
 
2,500
2,486,340
Series 2020 E, GO Bonds (INS - AGI)(b)
 3.00%
08/01/2045
 
6,465
5,013,479
West Patterson Financing Authority (Community Facilities District No. 2015-1);
      
 
 
Series 2015, RB
 5.25%
09/01/2035
 
610
611,799
Series 2015, RB
 5.25%
09/01/2045
 
1,550
1,551,176
 
 
 
 
2,229,294,747
Guam–0.42%
Guam (Territory of); Series 2021 F, Ref. RB
 4.00%
01/01/2036
 
1,160
1,112,056
Guam (Territory of) Department of Education (John F. Kennedy); Series 2020, Ref. COP
 5.00%
02/01/2040
 
2,750
2,648,734
Guam (Territory of) Port Authority; Series 2018 A, RB
 5.00%
07/01/2048
 
1,825
1,775,430
Guam (Territory of) Waterworks Authority; Series 2020 A, RB
 5.00%
01/01/2050
 
3,460
3,313,704
 
 
 
 
8,849,924
Northern Mariana Islands–0.05%
Northern Mariana Islands (Commonwealth of) Ports Authority; Series 2005 A, RB(e)
 5.50%
03/15/2031
 
1,120
1,109,087
Puerto Rico–3.64%
Children’s Trust Fund;
      
 
 
Series 2002, RB
 5.50%
05/15/2039
 
6,400
6,461,738
Series 2002, RB
 5.63%
05/15/2043
 
8,735
8,835,529
PRIFA Custodial Trust; Series 2005, RB(d)
 0.00%
03/15/2049
 
80
19,578
Puerto Rico (Commonwealth of);
      
 
 
Series 2021 A, GO Bonds(d)
 0.00%
07/01/2033
 
12,619
8,553,414
Series 2021 A-1, GO Bonds
 5.38%
07/01/2025
 
462
462,315
Series 2021 A-1, GO Bonds
 5.63%
07/01/2027
 
917
941,193
Series 2021 A-1, GO Bonds
 5.63%
07/01/2029
 
902
945,525
Series 2021 A-1, GO Bonds
 5.75%
07/01/2031
 
876
937,992
Series 2021 A-1, GO Bonds
 4.00%
07/01/2033
 
1,731
1,665,210
Series 2021 A-1, GO Bonds
 4.00%
07/01/2035
 
747
705,428
Series 2021 A-1, GO Bonds
 4.00%
07/01/2037
 
641
592,393
Series 2021 A-1, GO Bonds
 4.00%
07/01/2041
 
872
747,152
Series 2021 A-1, GO Bonds
 4.00%
07/01/2046
 
0
3
Subseries 2022, RN(d)
 0.00%
11/01/2043
 
3,709
2,230,276
Puerto Rico (Commonwealth of) Electric Power Authority; Series 2013 A, RB(k)
 6.75%
07/01/2036
 
3,920
2,151,100
Puerto Rico (Commonwealth of) Industrial, Tourist, Educational, Medical & Environmental Control
Facilities Financing Authority (AES Puerto Rico);
      
 
 
Series 2023 A, RB (Acquired 05/26/2000-03/25/2024; Cost $569,751)(l)
 6.63%
01/01/2027
 
494
488,583
Series 2023 A, RB (Acquired 05/26/2000; Cost $4,472,771)(l)
 6.63%
01/01/2028
 
3,767
3,714,314
Puerto Rico Sales Tax Financing Corp.;
      
 
 
Series 2018 A-1, RB(d)
 0.00%
07/01/2027
 
1,524
1,402,684
Series 2018 A-1, RB(d)
 0.00%
07/01/2031
 
1,616
1,255,696
Series 2018 A-1, RB(d)
 0.00%
07/01/2033
 
11,974
8,486,923
Series 2018 A-1, RB
 4.55%
07/01/2040
 
342
326,276
Series 2018 A-1, RB(d)
 0.00%
07/01/2046
 
8,788
2,821,249
Series 2018 A-1, RB(d)
 0.00%
07/01/2051
 
13,879
3,276,492
Series 2018 A-1, RB
 4.75%
07/01/2053
 
2,510
2,298,645
Series 2018 A-1, RB
 5.00%
07/01/2058
 
11,595
10,894,147
Series 2019 A-2, RB
 4.33%
07/01/2040
 
3,080
2,876,150
Series 2019 A-2, RB
 4.54%
07/01/2053
 
65
56,326
See accompanying notes which are an integral part of this schedule.
Invesco California Municipal Fund
 
Interest
Rate
Maturity
Date
Principal
Amount
(000)
Value
Puerto Rico–(continued)
Series 2019 A-2, RB
 4.78%
07/01/2058
 
$865
$775,479
University of Puerto Rico; Series 2006 P, Ref. RB (Acquired 08/07/2017; Cost $1,423,500)(l)
 5.00%
06/01/2030
 
2,190
2,116,238
 
 
 
 
76,038,048
Virgin Islands–0.55%
Virgin Islands (Government of) Port Authority;
      
 
 
Series 2014 A, Ref. RB(e)
 5.00%
09/01/2029
 
1,645
1,618,443
Series 2014 A, Ref. RB(e)
 5.00%
09/01/2033
 
1,500
1,427,492
Virgin Islands (Government of) Public Finance Authority (Frenchman’s Reef Hotel Development);
Series 2024 A, RB(i)
 6.00%
04/01/2053
 
6,000
5,960,490
Virgin Islands (Government of) Public Finance Authority (Garvee); Series 2015, RB(h)(i)(j)
 5.00%
09/01/2025
 
1,000
1,004,583
Virgin Islands Transportation & Infrastructure Corp. (Garvee); Series 2025, Ref. RB
 5.00%
09/01/2043
 
1,500
1,530,807
 
 
 
 
11,541,815
Total Municipal Obligations (Cost $2,417,197,114)
2,326,833,621
U.S. Dollar Denominated Bonds & Notes–0.01%
California–0.00%
CalPlant I LLC; Exit Facility(i)(o)
15.00%
07/01/2025
 
485
95,165
Puerto Rico–0.01%
AES Puerto Rico, Inc.(o)
12.50%
03/04/2026
 
123
119,077
Total U.S. Dollar Denominated Bonds & Notes (Cost $606,537)
214,242
 
 
 
Shares
 
Preferred Stocks–0.00%
AES Puerto Rico, Inc., Pfd.
(Cost $0)(o)
      
 
 
82,846
0
TOTAL INVESTMENTS IN SECURITIES(p)–111.37% (Cost $2,417,803,651)
2,327,047,863
FLOATING RATE NOTE OBLIGATIONS–(12.50)%
Notes with interest and fee rates ranging from 2.32% to 2.87% at 05/31/2025 and
contractual maturities of collateral ranging from 05/15/2035 to 11/01/2059(q)
      
 
 
(261,220,000
)
OTHER ASSETS LESS LIABILITIES–1.13%
23,603,921
NET ASSETS–100.00%
$2,089,431,784
Investment Abbreviations: 
AGI
– Assured Guaranty Inc.
AMBAC
– American Municipal Bond Assurance Corp.
BAM
– Build America Mutual Assurance Co.
CEP
– Credit Enhancement Provider
COP
– Certificates of Participation
FNMA
– Federal National Mortgage Association
GO
– General Obligation
INS
– Insurer
NATL
– National Public Finance Guarantee Corp.
Pfd.
– Preferred
RB
– Revenue Bonds
Ref.
– Refunding
RN
– Revenue Notes
VRD
– Variable Rate Demand
See accompanying notes which are an integral part of this schedule.
Invesco California Municipal Fund
Notes to Schedule of Investments: 
(a)
Calculated as a percentage of net assets. Amounts in excess of 100% are due to the Trust’s use of leverage.
(b)
Principal and/or interest payments are secured by the bond insurance company listed.
(c)
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 May 31, 2025.
(d)
Zero coupon bond issued at a discount.
(e)
Security subject to the alternative minimum tax.
(f)
The issuer is paying less than stated interest, but is not in default on principal because scheduled principal payments have not yet begun.
(g)
Underlying security related to TOB Trusts entered into by the Fund.
(h)
Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put.
(i)
Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be
resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at
May 31, 2025 was $204,529,868, which represented 9.79% of the Fund’s Net Assets.
(j)
Advance refunded; secured by an escrow fund of U.S. Government obligations or other highly rated collateral.
(k)
Defaulted security. Currently, the issuer is in default with respect to principal and/or interest payments. The aggregate value of these securities at May 31, 2025
was $2,151,137, which represented less than 1% of the Fund’s Net Assets.
(l)
Restricted security. The aggregate value of these securities at May 31, 2025 was $6,319,172, which represented less than 1% of the Fund’s Net Assets.
(m)
Convertible capital appreciation bond. The interest rate shown represents the coupon rate at which the bond will accrue at a specified future date.
(n)
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 $48,400,000. However, such shortfall payment would be reduced by the proceeds from the sale of the security underlying the TOB
Trusts.
(o)
Security valued using significant unobservable inputs (Level 3). See Note 1.
(p)
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.
(q)
Floating rate note obligations related to securities held. The interest and fee rates shown reflect the rates in effect at May 31, 2025. At May 31, 2025, the Fund’s
investments with a value of $357,618,004 are held by TOB Trusts and serve as collateral for the $261,220,000 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
May 31, 2025
(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. When market movements occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.
Level 3 – Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect Invesco Advisers, Inc.’s assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.
The following is a summary of the tiered valuation input levels, as of May 31, 2025. 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
$—
$2,326,833,621
$—
$2,326,833,621
U.S. Dollar Denominated Bonds & Notes
—
—
214,242
214,242
Preferred Stocks
—
—
0
0
Total Investments in Securities
—
2,326,833,621
214,242
2,327,047,863
Other Investments - Assets
Investments Matured
—
672,961
31,395
704,356
Total Investments
$—
$2,327,506,582
$245,637
$2,327,752,219
Invesco California Municipal Fund