UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number |
811-06362 | |
Invesco Municipal Trust | ||
(Exact name of registrant as specified in charter) | ||
1555 Peachtree Street, N.E., Suite 1800 Atlanta, Georgia 30309 | ||
(Address of principal executive offices) (Zip code) | ||
Sheri Morris 1555 Peachtree Street, N.E., Suite 1800 Atlanta, Georgia 30309 | ||
(Name and address of agent for service) |
Registrants telephone number, including area code: (713) 626-1919
Date of fiscal year end: 02/28
Date of reporting period: 08/31/19
Item 1. Reports to Stockholders.
Semiannual Report to Shareholders | August 31, 2019 |
![]() Bruce Crockett
|
![]() Andrew Schlossberg
|
2 | Invesco Municipal Trust |
3 | Invesco Municipal Trust |
4 | Invesco Municipal Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Municipal Obligations–159.42%(a) | |||||
Alabama–2.65% | |||||
Alabama (State of) Special Care Facilities Financing Authority (Ascension Health Senior Credit Group); Series 2016 B, Ref. RB | 5.00% | 11/15/2046 | $ 4,770 | $ 5,607,278 | |
Alabaster (City of), AL Board of Education; | |||||
Series 2014 A, GO Wts. (INS- AGM)(b) | 5.00% | 09/01/2039 | 1,245 | 1,448,035 | |
Series 2014 A, GO Wts. (INS -AGM)(b) | 5.00% | 09/01/2044 | 1,245 | 1,443,590 | |
Birmingham (City of), AL Airport Authority; Series 2010, RB (INS -AGM)(b) | 5.25% | 07/01/2030 | 1,650 | 1,698,708 | |
Birmingham (City of), AL Special Care Facilities Financing Authority (Methodist Home for the Aging); Series 2016, RB | 5.75% | 06/01/2045 | 225 | 254,003 | |
Birmingham (City of), AL Water Works Board; Series 2016 B, Ref. RB | 5.00% | 01/01/2043 | 1,235 | 1,473,701 | |
Huntsville (City of), AL Special Care Facilities Financing Authority (Redstone Village); Series 2007, RB (c) | 5.50% | 01/01/2043 | 1,725 | 1,256,507 | |
Lower Alabama Gas District (The); Series 2016 A, RB (d) | 5.00% | 09/01/2046 | 2,700 | 3,940,353 | |
Selma (City of), AL Industrial Development Board; Series 2009 A, RB | 6.25% | 11/01/2033 | 1,950 | 1,965,346 | |
Tuscaloosa (County of), AL Industrial Development Authority (Hunt Refining); Series 2019 A, Ref. IDR (e) | 5.25% | 05/01/2044 | 825 | 954,129 | |
20,041,650 | |||||
Alaska–0.45% | |||||
Alaska (State of) Industrial Development & Export Authority (Providence Health Services); Series 2011 A, RB (d) | 5.50% | 10/01/2041 | 3,160 | 3,393,556 | |
Arizona–3.46% | |||||
Arizona (State of) Health Facilities Authority (Scottsdale Lincoln Hospital); Series 2014, Ref. RB | 5.00% | 12/01/2042 | 2,160 | 2,468,945 | |
Arizona (State of) Industrial Development Authority (Great Laked Senior Living Community); Series 2019 A, RB | 4.25% | 01/01/2040 | 1,500 | 1,654,515 | |
Arizona (State of) Industrial Development Authority (Leman Academy of Excellence); Series 2017 A, Ref. RB (e) | 5.25% | 07/01/2047 | 1,160 | 1,204,254 | |
Arizona (State of) Lottery Revenue; Series 2019, Ref. RB | 5.00% | 07/01/2029 | 1,250 | 1,656,725 | |
Arizona (State of) Transportation Board; Series 2011 A, Ref. RB (d) | 5.25% | 07/01/2032 | 2,500 | 2,688,800 | |
Glendale (City of), AZ Industrial Development Authority (Midwestern University); | |||||
Series 2010, RB | 5.00% | 05/15/2035 | 500 | 512,115 | |
Series 2010, RB | 5.13% | 05/15/2040 | 1,100 | 1,126,598 | |
Glendale (City of), AZ Industrial Development Authority (The Beatitudes Campus); | |||||
Series 2017, Ref. RB | 5.00% | 11/15/2029 | 1,105 | 1,227,036 | |
Series 2017, Ref. RB | 5.00% | 11/15/2045 | 890 | 961,832 | |
Maricopa County Pollution Control Corp. (Southern California Education Co.); Series 2000 B, Ref. RB | 5.00% | 06/01/2035 | 1,170 | 1,196,992 | |
Phoenix (City of), AZ Industrial Development Authority (Career Success Schools); | |||||
Series 2009, RB | 7.00% | 01/01/2039 | 640 | 643,718 | |
Series 2009, RB | 7.13% | 01/01/2045 | 610 | 613,666 | |
Phoenix (City of), AZ Industrial Development Authority (Legacy Traditional Schools); Series 2014 A, RB (e) | 6.50% | 07/01/2034 | 500 | 579,745 | |
Phoenix (City of), AZ Industrial Development Authority (Rowan University); Series 2012, RB | 5.00% | 06/01/2042 | 2,170 | 2,329,755 | |
Phoenix Civic Improvement Corp.; | |||||
Series 2017 A, RB (f) | 5.00% | 07/01/2042 | 1,550 | 1,866,154 | |
Series 2017 A, RB (f) | 5.00% | 07/01/2047 | 2,475 | 2,961,065 | |
Pima (County of), AZ Industrial Development Authority (Grande Innovations Academy); Series 2018, RB (e) | 5.25% | 07/01/2048 | 1,190 | 1,236,089 | |
Yuma (City of), AZ Industrial Development Authority (Regional Medical Center); Series 2014 A, RB | 5.25% | 08/01/2032 | 1,060 | 1,238,992 | |
26,166,996 |
5 | Invesco Municipal Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
California–10.83% | |||||
Anaheim (City of), CA Public Financing Authority (Anaheim Public Improvements); Series 1997 C, RB (INS -AGM)(b)(g) | 0.00% | 09/01/2020 | $ 4,000 | $ 3,950,080 | |
Bay Area Toll Authority (San Francisco Bay Area); Series 2017 F-1, RB (d) | 5.00% | 04/01/2056 | 2,490 | 3,015,913 | |
Beverly Hills Unified School District (Election of 2008); Series 2009, GO Bonds (g) | 0.00% | 08/01/2028 | 800 | 694,328 | |
California (County of), CA Tobacco Securitization Agency (Alameda County Tobacco Asset Securitization Corp.); Series 2006 C, RB (g) | 0.00% | 06/01/2055 | 11,000 | 671,110 | |
California (State of); | |||||
Series 2012, GO Bonds | 5.25% | 04/01/2035 | 2,880 | 3,186,864 | |
Series 2012, GO Bonds | 5.00% | 04/01/2042 | 1,900 | 2,077,688 | |
Series 2012, Ref. GO Bonds | 5.00% | 02/01/2032 | 2,100 | 2,292,318 | |
Series 2013, Ref. GO Bonds | 5.25% | 09/01/2030 | 1,500 | 1,743,600 | |
California (State of) Community Housing Agency (Annadel Apartments); Series 2019 A, RB (e) | 5.00% | 04/01/2049 | 835 | 939,016 | |
California (State of) Health Facilities Financing Authority (Sutter Health); Series 2011 B, RB (h)(i) | 5.50% | 08/15/2020 | 1,000 | 1,042,990 | |
California (State of) Municipal Finance Authority (CHF-Davis I, LLC - West Village Student Housing Project); Series 2018, RB | 5.00% | 05/15/2035 | 1,255 | 1,553,163 | |
California (State of) Municipal Finance Authority (Linxs APM); | |||||
Series 2018 A, RB (f) | 5.00% | 12/31/2038 | 1,490 | 1,823,238 | |
Series 2018 A, RB (f) | 5.00% | 12/31/2043 | 2,010 | 2,434,472 | |
California (State of) Pollution Control Finance Authority; | |||||
Series 2012, RB (e)(f) | 5.00% | 07/01/2027 | 1,375 | 1,509,200 | |
Series 2012, RB (e)(f) | 5.00% | 07/01/2030 | 1,600 | 1,744,208 | |
Series 2012, RB (e)(f) | 5.00% | 07/01/2037 | 3,535 | 3,814,795 | |
California (State of) Statewide Communities Development Authority (Loma Linda University Medical Center); | |||||
Series 2014, RB | 5.25% | 12/01/2044 | 855 | 961,687 | |
Series 2016 A, RB (e) | 5.00% | 12/01/2041 | 1,355 | 1,539,646 | |
Series 2016 A, RB (e) | 5.25% | 12/01/2056 | 1,005 | 1,149,318 | |
Daly City (City of), CA Housing Development Finance Agency (Franciscan Mobile Home Park Acquisition); Series 2007 C, Ref. RB | 6.50% | 12/15/2047 | 400 | 400,728 | |
Foothill-Eastern Transportation Corridor Agency; Series 2015, Ref. RB (INS -AGM)(b)(g) | 0.00% | 01/15/2034 | 4,125 | 2,873,104 | |
Golden State Tobacco Securitization Corp.; | |||||
Series 2013 A, RB | 5.00% | 06/01/2030 | 2,875 | 3,289,287 | |
Series 2015 A, Ref. RB | 5.00% | 06/01/2040 | 1,000 | 1,180,190 | |
Series 2018 A-1, Ref. RB | 5.00% | 06/01/2047 | 720 | 738,475 | |
Series 2018 A-2, Ref. RB | 5.00% | 06/01/2047 | 2,550 | 2,615,433 | |
Los Angeles (City of), CA Department of Water & Power; Series 2012 B, RB (d) | 5.00% | 07/01/2043 | 3,500 | 3,871,700 | |
Los Angeles (City of), CA Harbor Department; Series 2009 C, Ref. RB | 5.00% | 08/01/2031 | 1,000 | 1,002,950 | |
Mt. San Antonio Community College District (Election 2008); Series 2013 A, GO Bonds (j) | 6.25% | 08/01/2043 | 2,010 | 2,050,200 | |
Oroville (City of), CA (Oroville Hospital); Series 2019, RB | 5.25% | 04/01/2049 | 620 | 744,496 | |
Palomar Pomerado Health; Series 2009, COP (h)(i) | 6.75% | 11/01/2019 | 1,125 | 1,135,148 | |
Sacramento (County of), CA; Series 2010, RB | 5.00% | 07/01/2040 | 2,300 | 2,368,793 | |
San Buenaventura (City of), CA (Community Memorial Health System); Series 2011, RB | 7.50% | 12/01/2041 | 2,200 | 2,462,856 | |
San Diego (City of), CA Community College District (Election of 2006); Series 2011, GO Bonds (d) | 5.00% | 08/01/2036 | 4,110 | 4,437,074 | |
San Francisco (City & County of), CA Airport Commission (San Francisco International Airport); | |||||
Series 2011 F, Ref. RB (f) | 5.00% | 05/01/2025 | 775 | 822,965 | |
Series 2011 F, Ref. RB (f) | 5.00% | 05/01/2026 | 1,550 | 1,645,666 | |
Series 2019 A, Ref. RB (f) | 5.00% | 05/01/2036 | 1,170 | 1,476,119 | |
Series 2019 A, Ref. RB (f) | 5.00% | 05/01/2039 | 2,360 | 2,944,218 | |
San Francisco (City & County of), CA Public Utilities Commission (Water System Improvement Program); Subseries 2011 A, RB (d) | 5.00% | 11/01/2036 | 3,360 | 3,650,539 | |
Santa Margarita Water District (Community Facilities District No. 2013-1); Series 2013, RB | 5.50% | 09/01/2032 | 660 | 736,263 | |
Silicon Valley Tobacco Securitization Authority (Santa Clara); Series 2007 A, RB (g) | 0.00% | 06/01/2041 | 3,485 | 1,031,281 | |
University of California; Series 2018 AZ, Ref. RB (d) | 4.00% | 05/15/2048 | 3,300 | 3,738,735 |
6 | Invesco Municipal Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
California–(continued) | |||||
Vernon (City of), CA; Series 2009 A, RB | 5.13% | 08/01/2021 | $ 510 | $ 511,729 | |
81,871,583 | |||||
Colorado–5.45% | |||||
Arkansas River Power Authority; Series 2006, RB (h) | 5.88% | 10/01/2026 | 1,235 | 1,507,317 | |
Colorado (State of) Board of Governors; Series 2012 A, RB (d) | 5.00% | 03/01/2041 | 3,850 | 4,227,031 | |
Colorado (State of) Health Facilities Authority (Adventhealth Obligated); Series 2019, Ref. RB | 4.00% | 11/15/2043 | 990 | 1,133,966 | |
Colorado (State of) Health Facilities Authority (Adventist Health System/Sunbelt Obligated Group); Series 2018 A, RB | 5.00% | 11/15/2048 | 1,170 | 1,426,639 | |
Colorado (State of) Health Facilities Authority (CommonSpirit Health); | |||||
Series 2019 A-1, Ref. RB | 4.00% | 08/01/2044 | 1,675 | 1,856,101 | |
Series 2019 A-2, Ref. RB | 5.00% | 08/01/2044 | 840 | 1,024,439 | |
Colorado (State of) Health Facilities Authority (Evangelical Lutheran Good Samaritan Society (The)); Series 2017, Ref. RB (h)(i) | 5.00% | 06/01/2027 | 585 | 738,504 | |
Colorado (State of) Health Facilities Authority (Volunteers of America Care); | |||||
Series 2007 A, RB | 5.25% | 07/01/2027 | 295 | 295,204 | |
Series 2007 A, RB | 5.30% | 07/01/2037 | 355 | 355,178 | |
Colorado (State of) High Performance Transportation Enterprise (C-470 Express Lanes); Series 2017, RB | 5.00% | 12/31/2047 | 920 | 1,021,853 | |
Colorado (State of) Regional Transportation District (Denver Transit Partners Eagle P3); | |||||
Series 2010, RB | 6.50% | 01/15/2030 | 1,400 | 1,452,052 | |
Series 2010, RB | 6.00% | 01/15/2034 | 1,100 | 1,136,212 | |
Colorado (State of) Science and Technology Park Metropolitan District No. 1; Series 2018, Ref. RB | 5.00% | 12/01/2033 | 500 | 537,245 | |
Denver (City & County of), CO; | |||||
Series 2012 B, RB | 5.00% | 11/15/2037 | 1,850 | 2,042,881 | |
Series 2018 A, Ref. RB (d)(f) | 5.25% | 12/01/2048 | 5,260 | 6,563,007 | |
Series 2018 A-2, RB (g) | 0.00% | 08/01/2033 | 1,765 | 1,168,607 | |
Neu Towne Metropolitan District; Series 2018 A, Ref. GO Bonds | 5.38% | 12/01/2046 | 705 | 744,945 | |
Prairie Center Metropolitan District No. 3; Series 2017 A, Ref. RB (e) | 5.00% | 12/15/2041 | 965 | 1,027,879 | |
University of Colorado; | |||||
Series 2013 A, RB (d) | 5.00% | 06/01/2037 | 5,845 | 6,696,792 | |
Series 2013 A, RB (d) | 5.00% | 06/01/2043 | 5,465 | 6,261,414 | |
41,217,266 | |||||
Connecticut–0.49% | |||||
Connecticut (State of) (Bradley International Airport); Series 2000 A, RB (INS- ACA)(b)(f) | 6.60% | 07/01/2024 | 2,440 | 2,447,930 | |
Connecticut (State of) Development Authority (Aquarion Water Co.); Series 2011, RB (f) | 5.50% | 04/01/2021 | 1,200 | 1,268,112 | |
3,716,042 | |||||
District of Columbia–3.67% | |||||
District of Columbia; | |||||
Series 2014 C, GO Bonds (d) | 5.00% | 06/01/2034 | 3,445 | 3,995,924 | |
Series 2014 C, GO Bonds (d) | 5.00% | 06/01/2035 | 6,890 | 7,978,207 | |
District of Columbia (Provident Group - Howard Properties LLC); Series 2013, RB | 5.00% | 10/01/2045 | 2,125 | 2,187,093 | |
District of Columbia (Sibley Memorial Hospital); | |||||
Series 2009, RB (h)(i) | 6.38% | 10/01/2019 | 2,400 | 2,409,408 | |
Series 2009, RB (h)(i) | 6.50% | 10/01/2019 | 700 | 702,807 | |
District of Columbia Water & Sewer Authority; Series 2013 A, RB (d) | 5.00% | 10/01/2044 | 3,000 | 3,410,700 | |
Metropolitan Washington Airports Authority (Dulles Metrorail and Capital Improvement); Series 2014 A, Ref. RB | 5.00% | 10/01/2053 | 6,550 | 7,046,162 | |
27,730,301 | |||||
Florida–7.22% | |||||
Alachua (County of), FL Health Facilities Authority (Terraces at Bonita Springs); Series 2011 A, RB | 8.13% | 11/15/2041 | 1,000 | 1,009,060 |
7 | Invesco Municipal Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Florida–(continued) | |||||
Broward (County of), FL; | |||||
Series 2012 A, RB | 5.00% | 10/01/2037 | $ 2,270 | $ 2,510,892 | |
Series 2013 C, RB | 5.25% | 10/01/2038 | 2,450 | 2,789,741 | |
Series 2015 A, RB (f) | 5.00% | 10/01/2045 | 1,395 | 1,614,559 | |
Series 2017, RB (d)(f) | 5.00% | 10/01/2047 | 4,015 | 4,815,390 | |
Cape Coral (City of), FL Health Facilities Authority (Gulf Care, Inc.); Series 2015, Ref. RB (e) | 6.00% | 07/01/2045 | 250 | 276,420 | |
Collier (County of), FL Industrial Development Authority (The Arlington of Naples); Series 2014 A, RB (Acquired 12/16/2013; Cost $1,270,077) (e) | 7.75% | 05/15/2035 | 1,300 | 1,252,823 | |
Davie (Town of), FL (Nova Southeastern University); Series 2013 A, RB | 6.00% | 04/01/2042 | 1,400 | 1,586,550 | |
Escambia (County of), FL Health Facilities Authority (Florida Health Care Facility Loan Veterans Health Administration Program); Series 2000, RB (h) | 5.95% | 07/01/2020 | 35 | 36,387 | |
Florida (State of) North Broward Hospital District; Series 2017 B, Ref. RB | 5.00% | 01/01/2048 | 3,015 | 3,464,054 | |
Florida (State of) Ports Financing Commission (State Transportation Trust Fund); Series 2011 B, Ref. RB (f) | 5.13% | 06/01/2027 | 1,650 | 1,757,167 | |
Hillsborough (County of), FL Aviation Authority (Tampa International Airport); Series 2018 E, RB (f) | 5.00% | 10/01/2048 | 2,080 | 2,541,219 | |
JEA; Series 2012 Three B, RB (d) | 5.00% | 10/01/2039 | 3,100 | 3,337,925 | |
Miami Beach (City of), FL Health Facilities Authority (Mount Sinai Medical Center); Series 2014, Ref. RB | 5.00% | 11/15/2039 | 935 | 1,062,123 | |
Miami-Dade (County of), FL; | |||||
Series 2012 A, Ref. RB (f)(h)(i) | 5.00% | 10/01/2022 | 1,000 | 1,104,530 | |
Series 2012 B, Ref. RB | 5.00% | 10/01/2032 | 1,150 | 1,276,028 | |
Series 2012 B, Ref. RB (INS -AGM)(b) | 5.00% | 10/01/2035 | 1,950 | 2,159,001 | |
Series 2016 A, Ref. RB | 5.00% | 10/01/2041 | 2,795 | 3,358,724 | |
Miami-Dade (County of), FL Educational Facilities Authority (University of Miami); Series 2018 A, RB (d) | 5.00% | 04/01/2053 | 3,865 | 4,631,932 | |
Miami-Dade (County of), FL Expressway Authority; Series 2010 A, Ref. RB | 5.00% | 07/01/2040 | 1,250 | 1,288,275 | |
Miami-Dade (County of), FL Health Facilities Authority (Miami Children’s Hospital); | |||||
Series 2010, Ref. RB (h)(i) | 6.13% | 08/01/2020 | 470 | 490,798 | |
Series 2010, Ref. RB | 6.13% | 08/01/2042 | 170 | 176,734 | |
Miami-Dade (County of), FL Industrial Development Authority (Waste Management, Inc.); Series 2018 B, RB (SIFMA Municipal Swap Index + 0.80%)(f)(i)(k) | 2.08% | 11/01/2021 | 585 | 585,000 | |
Orlando (City of), FL Greater Orlando Aviation Authority; Series 2017 A, RB (f) | 5.00% | 10/01/2047 | 1,315 | 1,573,923 | |
Overoaks Community Development District; Series 2010 A-2, RB (j) | 6.13% | 05/01/2035 | 95 | 96,051 | |
Palm Beach (County of), FL Solid Waste Authority; | |||||
Series 2009, RB (INS-BHAC)(b)(d) | 5.50% | 10/01/2023 | 2,600 | 2,608,710 | |
Series 2016, RB (d) | 5.00% | 10/01/2031 | 2,565 | 2,760,171 | |
Putnam (County of), FL Development Authority (Seminole Electric Cooperative); Series 2018 B, Ref. PCR | 5.00% | 03/15/2042 | 840 | 1,015,913 | |
Reunion East Community Development District; | |||||
Series 2005, RB (c) | 5.80% | 05/01/2036 | 235 | 2 | |
Series 2015-2, RB | 6.60% | 05/01/2036 | 270 | 294,368 | |
Sterling Hill Community Development District; Series 2003 A, RB (l) | 6.20% | 05/01/2035 | 735 | 470,644 | |
Sumter (County of), FL Industrial Development Authority (Central Florida Health Alliance); Series 2014 A, RB | 5.25% | 07/01/2044 | 1,000 | 1,107,070 | |
Tallahassee (City of), FL (Tallahassee Memorial Health Care, Inc.); Series 2016, RB | 5.00% | 12/01/2055 | 1,350 | 1,530,535 | |
54,582,719 | |||||
Georgia–3.38% | |||||
Atlanta (City of), GA; | |||||
Series 2009 A, RB (h)(i) | 6.00% | 11/01/2019 | 3,700 | 3,728,897 | |
Series 2015, Ref. RB (d) | 5.00% | 11/01/2040 | 8,290 | 9,811,381 | |
Augusta (City of), GA Development Authority; Series 2018, RB | 4.00% | 07/01/2039 | 2,860 | 3,095,092 | |
Brookhaven Development Authority (Children’s Healthcare of Atlanta, Inc.); Series 2019 A, RB | 4.00% | 07/01/2049 | 1,680 | 1,903,877 | |
DeKalb (County of), GA Hospital Authority (DeKalb Medical Center, Inc.); Series 2010, RAC (h)(i) | 6.00% | 09/01/2020 | 1,000 | 1,046,260 |
8 | Invesco Municipal Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Georgia–(continued) | |||||
Fulton (County of), GA Development Authority (Georgia Tech Athletic Association); Series 2012, Ref. RB | 5.00% | 10/01/2042 | $ 1,150 | $ 1,257,490 | |
Fulton (County of), GA Development Authority (Wellstar Health System, Inc.); Series 2017, RB | 5.00% | 04/01/2042 | 1,000 | 1,189,200 | |
Glynn-Brunswick Memorial Hospital Authority (Southeast Georgia Health System); Series 2017, RAC | 5.00% | 08/01/2043 | 3,000 | 3,539,940 | |
25,572,137 | |||||
Guam–0.80% | |||||
Guam (Territory of); | |||||
Series 2011 A, RB | 5.25% | 01/01/2036 | 625 | 663,069 | |
Series 2011 A, RB | 5.13% | 01/01/2042 | 780 | 820,849 | |
Guam (Territory of) (Section 30); | |||||
Series 2009 A, RB (h)(i) | 5.38% | 12/01/2019 | 350 | 353,696 | |
Series 2009 A, RB (h)(i) | 5.63% | 12/01/2019 | 1,850 | 1,870,646 | |
Guam (Territory of) Power Authority; Series 2010 A, RB (h)(i) | 5.50% | 10/01/2020 | 835 | 874,328 | |
Guam (Territory of) Waterworks Authority; Series 2010, RB (h)(i) | 5.63% | 07/01/2020 | 1,400 | 1,452,696 | |
6,035,284 | |||||
Hawaii–1.05% | |||||
Hawaii (State of); | |||||
Series 2010 A, RB | 5.00% | 07/01/2039 | 2,050 | 2,105,309 | |
Series 2015 A, RB (f) | 5.00% | 07/01/2045 | 1,695 | 1,968,014 | |
Hawaii (State of) Department of Budget & Finance (Hawaii Pacific Health Obligated Group); | |||||
Series 2010 B, RB (h)(i) | 5.75% | 07/01/2020 | 1,000 | 1,037,900 | |
Series 2013 A, Ref. RB | 5.50% | 07/01/2043 | 2,500 | 2,816,525 | |
7,927,748 | |||||
Idaho–0.26% | |||||
Idaho (State of) Health Facilities Authority (Valley Vista Care Corp.); Series 2017 A, Ref. RB | 5.25% | 11/15/2047 | 865 | 926,147 | |
Regents of the University of Idaho; Series 2011, Ref. RB (i) | 5.25% | 04/01/2021 | 990 | 1,047,004 | |
1,973,151 | |||||
Illinois–18.17% | |||||
Bartlett (Village of), IL (Quarry Redevelopment); Series 2007, Ref. RB (h) | 5.60% | 01/01/2023 | 715 | 715,837 | |
Bolingbrook (Village of), IL; Series 2005, RB (j) | 6.25% | 01/01/2024 | 1,250 | 1,240,325 | |
Chicago (City of), IL; | |||||
Series 2002 B, GO Bonds | 5.50% | 01/01/2037 | 1,050 | 1,186,227 | |
Series 2005 D, Ref. GO Bonds | 5.50% | 01/01/2040 | 1,190 | 1,337,381 | |
Series 2007 E, Ref. GO Bonds | 5.50% | 01/01/2042 | 340 | 381,133 | |
Series 2011 A, RB (h)(i) | 5.25% | 01/01/2022 | 1,905 | 2,085,499 | |
Series 2011, COP | 7.13% | 05/01/2021 | 671 | 670,782 | |
Series 2012 A, GO Bonds | 5.00% | 01/01/2033 | 1,675 | 1,760,241 | |
Series 2012 A, GO Bonds (INS- BAM)(b) | 5.00% | 01/01/2033 | 1,290 | 1,373,914 | |
Series 2012, RB | 5.00% | 01/01/2042 | 3,350 | 3,550,296 | |
Series 2014, RB | 5.00% | 11/01/2044 | 875 | 979,764 | |
Series 2014, Ref. RB (INS -AGM)(b) | 5.00% | 01/01/2032 | 1,175 | 1,310,901 | |
Series 2015 A, GO Bonds | 5.50% | 01/01/2033 | 3,395 | 3,865,683 | |
Series 2017 A, Ref. GO Bonds | 6.00% | 01/01/2038 | 2,025 | 2,430,891 | |
Series 2017-2, Ref. RB (INS -AGM)(b) | 5.00% | 11/01/2038 | 1,000 | 1,194,710 | |
Chicago (City of), IL (Diversey/Narragansett); Series 2006, COP | 7.46% | 02/15/2026 | 583 | 440,576 | |
Chicago (City of), IL (Midway Airport); | |||||
Series 2013 A, Ref. RB (f) | 5.50% | 01/01/2031 | 2,650 | 2,976,029 | |
Series 2014 A, Ref. RB (f) | 5.00% | 01/01/2041 | 1,250 | 1,388,550 |
9 | Invesco Municipal Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Illinois–(continued) | |||||
Chicago (City of), IL (O’Hare International Airport); | |||||
Series 2012 B, Ref. RB (f) | 5.00% | 01/01/2030 | $ 4,500 | $ 4,854,870 | |
Series 2013, RB | 5.75% | 01/01/2038 | 2,450 | 2,777,957 | |
Series 2015 C, RB (f) | 5.00% | 01/01/2046 | 850 | 966,119 | |
Series 2015 D, RB | 5.00% | 01/01/2046 | 595 | 682,400 | |
Series 2016 C, Ref. RB | 5.00% | 01/01/2037 | 1,685 | 1,998,915 | |
Series 2017 D, RB | 5.25% | 01/01/2042 | 1,355 | 1,650,390 | |
Chicago (City of), IL Board of Education; | |||||
Series 2017 H, GO Bonds | 5.00% | 12/01/2036 | 1,705 | 1,938,056 | |
Series 2018 A, Ref. GO Bonds | 5.00% | 12/01/2035 | 750 | 865,815 | |
Series 2018 A, Ref. GO Bonds (INS -AGM)(b) | 5.00% | 12/01/2035 | 650 | 785,655 | |
Series 2018 C, Ref. GO Bonds | 5.00% | 12/01/2022 | 1,005 | 1,086,616 | |
Chicago (City of), IL Metropolitan Water Reclamation District (Green Bonds); Series 2016 E, GO Bonds | 5.00% | 12/01/2045 | 1,755 | 2,057,878 | |
Chicago (City of), IL Transit Authority; | |||||
Series 2011, RB (d)(m) | 5.25% | 12/01/2036 | 3,795 | 4,052,756 | |
Series 2014, RB | 5.00% | 12/01/2044 | 3,735 | 4,196,497 | |
Gilberts (Village of), IL Special Service Area No. 24 (The Conservancy); Series 2014 A, RB | 5.38% | 03/01/2034 | 552 | 551,891 | |
Illinois (State of); | |||||
Series 2006, GO Bonds | 5.50% | 01/01/2030 | 1,035 | 1,302,061 | |
Series 2012 A, GO Bonds | 5.00% | 01/01/2031 | 1,225 | 1,290,207 | |
Series 2013, GO Bonds (INS -BAM)(b) | 5.50% | 07/01/2038 | 2,450 | 2,730,598 | |
Series 2014, GO Bonds | 5.25% | 02/01/2033 | 1,250 | 1,380,550 | |
Series 2014, GO Bonds | 5.00% | 05/01/2035 | 1,570 | 1,719,197 | |
Series 2014, GO Bonds | 5.00% | 05/01/2036 | 1,210 | 1,322,893 | |
Series 2017 D, GO Bonds | 5.00% | 11/01/2023 | 1,675 | 1,846,872 | |
Series 2017 D, GO Bonds | 5.00% | 11/01/2024 | 1,185 | 1,329,072 | |
Series 2018 A, Ref. GO Bonds | 5.00% | 10/01/2021 | 2,080 | 2,213,973 | |
Series 2018 A, Ref. GO Bonds | 5.00% | 10/01/2022 | 585 | 636,562 | |
Illinois (State of) Finance Authority (Art Institute of Chicago); | |||||
Series 2012, RB (h)(i) | 5.00% | 03/01/2022 | 5 | 5,477 | |
Series 2012, RB | 5.00% | 03/01/2034 | 995 | 1,081,147 | |
Illinois (State of) Finance Authority (Centegra Health System); Series 2014 A, RB | 5.00% | 09/01/2042 | 1,430 | 1,636,706 | |
Illinois (State of) Finance Authority (Loyola University of Chicago); Series 2012 B, RB | 5.00% | 07/01/2042 | 1,000 | 1,084,470 | |
Illinois (State of) Finance Authority (OSF Healthcare System); Series 2015 A, Ref. RB | 5.00% | 11/15/2045 | 2,375 | 2,705,196 | |
Illinois (State of) Finance Authority (Park Place of Elmhurst); | |||||
Series 2016 B, RB | 5.63% | 05/15/2020 | 986 | 890,227 | |
Series 2016, RB | 2.00% | 05/15/2055 | 230 | 6,908 | |
Illinois (State of) Finance Authority (Riverside Health System); | |||||
Series 2009, RB (h)(i) | 6.25% | 11/15/2019 | 755 | 762,603 | |
Series 2009, RB | 6.25% | 11/15/2035 | 495 | 500,128 | |
Illinois (State of) Finance Authority (Roosevelt University); Series 2007, RB | 5.50% | 04/01/2037 | 1,000 | 1,000,840 | |
Illinois (State of) Finance Authority (Rush University Medical Center); Series 2015 A, Ref. RB | 5.00% | 11/15/2038 | 2,490 | 2,850,851 | |
Illinois (State of) Finance Authority (Swedish Covenant Hospital); Series 2010 A, Ref. RB (h)(i) | 6.00% | 02/15/2020 | 1,675 | 1,711,431 | |
Illinois (State of) Finance Authority (The University of Chicago Medical Center); Series 2011 C, RB (d) | 5.50% | 08/15/2041 | 2,370 | 2,517,177 | |
Illinois (State of) Finance Authority (University of Chicago); Series 2013 A, RB (d) | 5.25% | 10/01/2052 | 3,630 | 4,046,978 | |
Illinois (State of) Metropolitan Pier & Exposition Authority; Series 2002, RB (INS- AGM)(b)(g) | 0.00% | 12/15/2029 | 2,750 | 2,152,672 | |
Illinois (State of) Metropolitan Pier & Exposition Authority (McCormick Place Expansion); | |||||
Series 2010, RB (h)(i) | 5.50% | 06/15/2020 | 550 | 568,706 | |
Series 2010, RB | 5.50% | 06/15/2050 | 1,715 | 1,747,877 | |
Series 2015 A, RB | 5.50% | 06/15/2053 | 2,200 | 2,479,708 |
10 | Invesco Municipal Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Illinois–(continued) | |||||
Illinois (State of) Sports Facilities Authority; | |||||
Series 2014, Ref. RB (INS -AGM)(b) | 5.25% | 06/15/2031 | $ 1,205 | $ 1,376,423 | |
Series 2014, Ref. RB (INS -AGM)(b) | 5.25% | 06/15/2032 | 1,100 | 1,254,143 | |
Illinois (State of) Toll Highway Authority; | |||||
Series 2013 A, RB (d) | 5.00% | 01/01/2038 | 3,875 | 4,283,386 | |
Series 2015 A, RB (d) | 5.00% | 01/01/2040 | 11,210 | 13,063,909 | |
Peoria (County of), IL; Series 2011, GO Bonds (d) | 5.00% | 12/15/2041 | 3,075 | 3,212,514 | |
Railsplitter Tobacco Settlement Authority; Series 2010, RB (h)(i) | 5.50% | 06/01/2021 | 3,800 | 4,086,900 | |
Regional Transportation Authority; | |||||
Series 2002 A, RB (INS- NATL)(b) | 6.00% | 07/01/2029 | 1,155 | 1,602,158 | |
Series 2018 B, RB | 5.00% | 06/01/2040 | 2,315 | 2,819,022 | |
Sales Tax Securitization Corp.; Series 2018 A, Ref. RB (d) | 5.00% | 01/01/2048 | 4,195 | 4,821,733 | |
137,395,829 | |||||
Indiana–3.11% | |||||
Indiana (State of) Finance Authority (CWA Authority); Series 2011 B, RB | 5.25% | 10/01/2031 | 2,320 | 2,501,911 | |
Indiana (State of) Finance Authority (Ohio River Bridges East End Crossing); | |||||
Series 2013 A, RB (f) | 5.00% | 07/01/2035 | 500 | 555,635 | |
Series 2013 A, RB (f) | 5.00% | 07/01/2048 | 575 | 630,936 | |
Series 2013, RB (f) | 5.00% | 07/01/2040 | 3,850 | 4,249,899 | |
Indiana (State of) Finance Authority (Ohio Valley Electric Corp.); | |||||
Series 2012 A, RB | 5.00% | 06/01/2032 | 610 | 642,184 | |
Series 2012 A, RB | 5.00% | 06/01/2039 | 2,670 | 2,808,706 | |
Indiana (State of) Municipal Power Agency; | |||||
Series 2013 A, RB (h)(i) | 5.25% | 07/01/2023 | 1,250 | 1,447,838 | |
Series 2016 A, Ref. RB | 5.00% | 01/01/2042 | 1,235 | 1,471,848 | |
Indianapolis Local Public Improvement Bond Bank; | |||||
Series 2011 K, RB | 5.00% | 06/01/2027 | 2,000 | 2,123,460 | |
Series 2013 F, RB (d) | 5.00% | 02/01/2030 | 3,240 | 3,623,875 | |
Valparaiso (City of), IN (Pratt Paper, LLC); Series 2013, RB (f) | 6.75% | 01/01/2034 | 1,500 | 1,765,650 | |
Whiting (City of), IN (BP Products North America); Series 2019, Ref. RB (f)(i) | 5.00% | 06/05/2026 | 1,395 | 1,700,254 | |
23,522,196 | |||||
Iowa–1.17% | |||||
Iowa (State of) Finance Authority (Iowa Fertilizer Co.); | |||||
Series 2013, RB (e) | 5.88% | 12/01/2027 | 1,090 | 1,145,732 | |
Series 2013, Ref. RB (i) | 5.25% | 12/01/2037 | 1,265 | 1,377,180 | |
Series 2019, Ref. RB | 3.13% | 12/01/2022 | 585 | 594,916 | |
Iowa (State of) Finance Authority (Lifespace Communities, Inc.); Series 2018 A, RB | 5.00% | 05/15/2043 | 840 | 964,975 | |
Iowa (State of) Tobacco Settlement Authority; | |||||
Series 2005 C, RB | 5.50% | 06/01/2042 | 1,715 | 1,715,394 | |
Series 2005 C, RB | 5.63% | 06/01/2046 | 1,370 | 1,370,301 | |
Series 2005 E, RB (g) | 0.00% | 06/01/2046 | 12,665 | 1,662,155 | |
8,830,653 | |||||
Kansas–0.86% | |||||
Kansas (State of) Development Finance Authority (Adventist Health System/Sunbelt Obligated Group); Series 2009 C, RB (d) | 5.75% | 11/15/2038 | 3,500 | 3,532,165 | |
Kansas (State of) Municipal Energy Agency (Jameson Energy Center); Series 2013, RB | 5.75% | 07/01/2038 | 1,575 | 1,825,393 | |
Wyandotte (County of) & Kansas City (City of), KS Unified Government; Series 2014 A, Ref. RB | 5.00% | 09/01/2044 | 1,000 | 1,138,920 | |
6,496,478 |
11 | Invesco Municipal Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Kentucky–2.27% | |||||
Kentucky (State of) Economic Development Finance Authority (Catholic Health Initiatives); Series 2011 B, RB (SIFMA Municipal Swap Index + 1.40%)(i)(k) | 2.68% | 02/01/2025 | $ 710 | $ 720,629 | |
Kentucky (State of) Economic Development Finance Authority (Louisville Arena Authority, Inc.); Series 2017 A, Ref. RB (INS -AGM)(b) | 5.00% | 12/01/2047 | 1,115 | 1,225,519 | |
Kentucky (State of) Economic Development Finance Authority (Next Generation Kentucky Information Highway); | |||||
Series 2015 A, RB | 5.00% | 07/01/2040 | 1,335 | 1,485,828 | |
Series 2015 A, RB | 5.00% | 01/01/2045 | 985 | 1,092,532 | |
Kentucky (State of) Economic Development Finance Authority (Owensboro Health, Inc.); | |||||
Series 2017 A, Ref. RB | 5.25% | 06/01/2041 | 1,265 | 1,488,171 | |
Series 2017 A, Ref. RB | 5.00% | 06/01/2045 | 1,015 | 1,158,775 | |
Kentucky (State of) Economic Development Finance Authority (Owensboro Medical Health System, Inc.); | |||||
Series 2010 A, RB (h)(i) | 6.00% | 06/01/2020 | 1,500 | 1,552,860 | |
Series 2010 A, RB (h)(i) | 6.38% | 06/01/2020 | 1,225 | 1,271,550 | |
Series 2010 A, RB (h)(i) | 6.50% | 06/01/2020 | 3,100 | 3,220,404 | |
Kentucky (State of) Public Energy Authority; Series 2018 C-1, RB (i) | 4.00% | 06/01/2025 | 1,495 | 1,677,928 | |
Kentucky (State of) Public Transportation Infrastructure Authority (Downtown Crossing); Series 2013 A, RB | 5.75% | 07/01/2049 | 1,000 | 1,129,910 | |
Louisville (City of) & Jefferson (County of), KY Metropolitan Government (Norton Healthcare, Inc.); Series 2013 A, RB | 5.50% | 10/01/2033 | 1,000 | 1,142,530 | |
17,166,636 | |||||
Louisiana–1.03% | |||||
Louisiana (State of) Public Facilities Authority (Provident Group-Flagship Properties LLC- Louisiana State University Nicholson Gateway); Series 2016, RB | 5.00% | 07/01/2051 | 1,140 | 1,319,664 | |
New Orleans (City of), LA; Series 2014, Ref. RB | 5.00% | 06/01/2044 | 755 | 855,740 | |
New Orleans (City of), LA Aviation Board (Parking Facilities Corp. Consolitdated Garage System); Series 2018 A, RB (INS -AGM)(b) | 5.00% | 10/01/2043 | 445 | 541,561 | |
Tobacco Settlement Financing Corp.; | |||||
Series 2013 A, Ref. RB | 5.50% | 05/15/2030 | 860 | 889,971 | |
Series 2013 A, Ref. RB | 5.25% | 05/15/2031 | 860 | 909,622 | |
Series 2013 A, Ref. RB | 5.25% | 05/15/2032 | 1,635 | 1,776,509 | |
Series 2013 A, Ref. RB | 5.25% | 05/15/2033 | 1,375 | 1,492,301 | |
7,785,368 | |||||
Maryland–0.82% | |||||
Maryland (State of) Health & Higher Educational Facilities Authority (LifeBridge Health); Series 2016, Ref. RB | 5.00% | 07/01/2047 | 770 | 899,090 | |
Maryland (State of) Health & Higher Educational Facilities Authority (Peninsula Regional Medical Center); Series 2015, Ref. RB | 5.00% | 07/01/2045 | 1,580 | 1,798,372 | |
Maryland Economic Development Corp. (Terminal); Series 2010 B, RB (h)(i) | 5.75% | 06/01/2020 | 1,080 | 1,116,893 | |
Maryland Economic Development Corp. (Transportation Facilities); Series 2010 A, RB (h)(i) | 5.38% | 06/01/2020 | 765 | 789,021 | |
Prince Georges (County of), MD (Collington Episcopal Life Care Community, Inc.); | |||||
Series 2017, Ref. RB | 5.00% | 04/01/2029 | 905 | 1,004,152 | |
Series 2017, Ref. RB | 5.00% | 04/01/2032 | 540 | 592,347 | |
6,199,875 | |||||
Massachusetts–6.13% | |||||
Berkshire Wind Power Cooperative Corp.; Series 2010 1, RB (h)(i) | 5.25% | 01/01/2020 | 350 | 354,795 | |
Massachusetts (Commonwealth of) Development Finance Agency (Massachusetts Institute of Technology); Series 2002 K, RB (d) | 5.50% | 07/01/2032 | 2,500 | 3,658,825 | |
Massachusetts (Commonwealth of) Transportation Fund Revenue; Series 2016 B, RB | 4.00% | 06/01/2046 | 2,530 | 2,808,654 | |
Massachusetts (Commonwealth of) Water Resources Authority; Series 2011 C, Ref. RB (d) | 5.00% | 08/01/2030 | 3,500 | 3,750,110 |
12 | Invesco Municipal Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Massachusetts–(continued) | |||||
Massachusetts (State of); | |||||
Series 2004 A, Ref. GO Bonds (INS -AMBAC)(b) | 5.50% | 08/01/2030 | $ 1,500 | $ 2,092,170 | |
Series 2005, Ref. RB (INS -NATL)(b) | 5.50% | 01/01/2023 | 1,000 | 1,142,220 | |
Massachusetts (State of) (Consolidated Loan of 2019); Series 2019, GO Bonds | 5.00% | 05/01/2047 | 1,000 | 1,256,660 | |
Massachusetts (State of) Department of Transportation; Series 1997 C, RB (INS -NATL)(b)(g) | 0.00% | 01/01/2022 | 1,550 | 1,502,493 | |
Massachusetts (State of) Department of Transportation (Contract Assistance); Series 2010 B, RB | 5.00% | 01/01/2035 | 4,020 | 4,068,923 | |
Massachusetts (State of) Development Finance Agency (Berklee College of Music); Series 2007, RB | 5.00% | 10/01/2032 | 150 | 150,450 | |
Massachusetts (State of) Development Finance Agency (Boston College); Series 2008, RB | 5.50% | 06/01/2026 | 400 | 516,708 | |
Massachusetts (State of) Development Finance Agency (Broad Institute); Series 2011 A, RB (h)(i) | 5.25% | 04/01/2021 | 500 | 533,040 | |
Massachusetts (State of) Development Finance Agency (Cape Cod Healthcare Obligation); Series 2004, RB (h)(i) | 5.13% | 11/15/2019 | 500 | 503,985 | |
Massachusetts (State of) Development Finance Agency (Caregroup); Series 2018 J-2, RB | 5.00% | 07/01/2048 | 2,480 | 3,003,974 | |
Massachusetts (State of) Development Finance Agency (Carleton-Willard Village); Series 2010, RB | 5.63% | 12/01/2030 | 700 | 707,126 | |
Massachusetts (State of) Development Finance Agency (Emerson College); | |||||
Series 2010 A, RB (h)(i) | 5.00% | 01/01/2020 | 250 | 253,225 | |
Series 2016 A, RB | 5.00% | 01/01/2047 | 3,255 | 3,784,393 | |
Massachusetts (State of) Development Finance Agency (Lesley University); Series 2011 B-1, RB (h)(i) | 5.25% | 07/01/2021 | 300 | 322,656 | |
Massachusetts (State of) Development Finance Agency (Lowell General Hospital); Series 2010 C, RB | 5.13% | 07/01/2035 | 500 | 515,530 | |
Massachusetts (State of) Development Finance Agency (Merrimack College); Series 2012 A, RB | 5.25% | 07/01/2042 | 500 | 540,630 | |
Massachusetts (State of) Development Finance Agency (Mount Holyoke College); Series 2011 B, RB | 5.00% | 07/01/2041 | 500 | 531,475 | |
Massachusetts (State of) Development Finance Agency (Northeastern University); Series 2009 Y-2, Ref. RB | 5.50% | 10/01/2024 | 750 | 752,423 | |
Massachusetts (State of) Development Finance Agency (Partners Healthcare); Series 2012 L, RB (h)(i) | 5.00% | 07/01/2021 | 3,425 | 3,668,209 | |
Massachusetts (State of) Development Finance Agency (Sabis International Charter School); Series 2009 A, RB (h)(i) | 8.00% | 10/15/2019 | 250 | 251,955 | |
Massachusetts (State of) Development Finance Agency (Springfield College); Series 2010, RB (h)(i) | 5.63% | 10/15/2019 | 500 | 502,585 | |
Massachusetts (State of) Development Finance Agency (Suffolk University); Series 2010, RB | 5.13% | 07/01/2040 | 500 | 514,310 | |
Massachusetts (State of) Development Finance Agency (Tufts Medical Center); | |||||
Series 2011 I, RB (h)(i) | 6.75% | 01/01/2021 | 500 | 537,117 | |
Series 2011 I, RB (h)(i) | 7.25% | 01/01/2021 | 825 | 891,198 | |
Massachusetts (State of) Development Finance Agency (Umass Memorial); | |||||
Series 2011 H, RB (h)(i) | 5.50% | 07/01/2021 | 475 | 513,010 | |
Series 2011 H, RB | 5.50% | 07/01/2031 | 25 | 26,864 | |
Massachusetts (State of) Educational Financing Authority; Series 2011 J, RB (f) | 5.63% | 07/01/2028 | 125 | 132,214 | |
Massachusetts (State of) Port Authority; | |||||
Series 2019 A, Ref. RB (f) | 5.00% | 07/01/2036 | 995 | 1,260,804 | |
Series 2019 C, RB (f) | 5.00% | 07/01/2044 | 1,595 | 1,982,107 | |
Massachusetts (State of) Port Authority (Conrac); Series 2011 A, RB | 5.13% | 07/01/2041 | 250 | 266,530 | |
Massachusetts (State of) Water Resources Authority; | |||||
Series 2007 B, Ref. RB (INS -AGM)(b) | 5.25% | 08/01/2031 | 500 | 703,485 | |
Series 2011 B, RB (h)(i) | 5.00% | 08/01/2021 | 200 | 214,648 | |
Series 2011 C, Ref. RB (d) | 5.00% | 08/01/2031 | 2,000 | 2,142,920 | |
46,358,421 | |||||
Michigan–4.15% | |||||
Detroit Downtown Development Authority; Series 2018 A, Ref. RB (INS -AGM)(b)(d)(m) | 5.00% | 07/01/2043 | 2,110 | 2,375,143 | |
Michigan (State of) Building Authority (Facilities Program); Series 2016 I, Ref. RB (d) | 5.00% | 04/15/2041 | 2,865 | 3,439,576 | |
Michigan (State of) Finance Authority (Beaumont Health Credit Group); Series 2016, RB | 5.00% | 11/01/2044 | 1,865 | 2,160,658 | |
Michigan (State of) Finance Authority (Bronson Healthcare Group); Series 2020 A, Ref. RB | 5.00% | 05/15/2036 | 1,675 | 1,937,791 | |
Michigan (State of) Finance Authority (Charter County of Wayne Criminal Justice Center); Series 2018, RB | 5.00% | 11/01/2038 | 750 | 933,045 |
13 | Invesco Municipal Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Michigan–(continued) | |||||
Michigan (State of) Finance Authority (Detroit Water & Sewerage Department); | |||||
Series 2014 C-1, Ref. RB | 5.00% | 07/01/2044 | $ 1,245 | $ 1,348,323 | |
Series 2014 C-3, Ref. RB (INS -AGM)(b) | 5.00% | 07/01/2032 | 2,500 | 2,901,875 | |
Series 2014 C-6, Ref. RB | 5.00% | 07/01/2033 | 625 | 719,138 | |
Series 2014 D-4, Ref. RB | 5.00% | 07/01/2029 | 625 | 734,288 | |
Series 2015, Ref. RB | 5.00% | 07/01/2035 | 1,270 | 1,488,757 | |
Michigan (State of) Finance Authority (MidMichigan Health Credit Group); Series 2014, Ref. RB | 5.00% | 06/01/2039 | 2,275 | 2,577,734 | |
Michigan (State of) Finance Authority (Trinity Health Credit); Series 2017 MI, Ref. RB (d) | 5.00% | 12/01/2046 | 3,890 | 4,652,129 | |
Michigan (State of) Strategic Fund (I-85 Improvement Project); Series 2018, RB (f) | 5.00% | 06/30/2033 | 600 | 747,102 | |
Michigan (State of) Tobacco Settlement Finance Authority; Series 2007 A, RB | 6.00% | 06/01/2048 | 3,305 | 3,321,591 | |
Saginaw (City of), MI Hospital Finance Authority (Covenant Medical Center, Inc.); Series 2010 H, Ref. RB | 5.00% | 07/01/2030 | 2,000 | 2,055,460 | |
31,392,610 | |||||
Minnesota–0.32% | |||||
Bethel (City of), MN (Spectrum High School); | |||||
Series 2017 A, Ref. RB | 4.25% | 07/01/2047 | 305 | 325,075 | |
Series 2017 A, Ref. RB | 4.38% | 07/01/2052 | 500 | 535,515 | |
St. Cloud (City of), MN (CentraCare Health System); Series 2019, Ref. RB | 5.00% | 05/01/2048 | 1,245 | 1,537,861 | |
2,398,451 | |||||
Mississippi–1.77% | |||||
Mississippi Business Finance Corp. (Chevron USA, Inc.); | |||||
Series 2007 E, VRD RB (n) | 1.28% | 12/01/2030 | 4,200 | 4,200,000 | |
Series 2010 G, VRD RB (n) | 1.28% | 11/01/2035 | 7,600 | 7,600,000 | |
West Rankin Utility Authority; Series 2018, RB (INS -AGM)(b) | 5.00% | 01/01/2048 | 1,355 | 1,606,217 | |
13,406,217 | |||||
Missouri–1.65% | |||||
Kansas City (City of), MO Industrial Development Authority (Downtown Redevelopment District); | |||||
Series 2011 A, Ref. RB | 5.50% | 09/01/2027 | 750 | 810,630 | |
Series 2011 A, Ref. RB | 5.50% | 09/01/2028 | 1,515 | 1,637,473 | |
Kansas City (City of), MO Industrial Development Authority (Kansas City International Airport); | |||||
Series 2019 A, RB (f) | 5.00% | 03/01/2044 | 1,005 | 1,237,185 | |
Series 2019 B, RB (f) | 5.00% | 03/01/2046 | 1,675 | 2,051,389 | |
Kirkwood (City of), MO Industrial Development Authority (Aberdeen Heights); Series 2017 A, Ref. RB | 5.25% | 05/15/2050 | 510 | 573,398 | |
Missouri (State of) Health & Educational Facilities Authority (Lutheran Senior Service); Series A, RB | 5.00% | 02/01/2034 | 330 | 376,721 | |
Missouri (State of) Health & Educational Facilities Authority (Lutheran Senior Services); | |||||
Series 2010, RB | 5.50% | 02/01/2042 | 1,000 | 1,012,680 | |
Series 2014 A, RB | 5.00% | 02/01/2044 | 1,000 | 1,090,700 | |
Missouri (State of) Health & Educational Facilities Authority (St. Louis College of Pharmacy); Series 2013, RB | 5.25% | 05/01/2033 | 1,175 | 1,281,796 | |
St. Louis (County of), MO Industrial Development Authority (Friendship Village West County); Series 2018 A, RB | 5.00% | 09/01/2038 | 2,095 | 2,403,321 | |
12,475,293 | |||||
Nebraska–1.53% | |||||
Central Plains Energy Project (No. 3); | |||||
Series 2012, RB (o) | 5.00% | 09/01/2032 | 3,500 | 3,818,360 | |
Series 2012, RB (o) | 5.25% | 09/01/2037 | 2,485 | 2,735,140 | |
Douglas (County of), NE Hospital Authority No. 2 (Madonna Rehabilitation Hospital); Series 2014, RB | 5.00% | 05/15/2044 | 1,000 | 1,113,280 | |
Omaha (City of), NE Public Power District; Series 2011 B, RB (d) | 5.00% | 02/01/2036 | 3,690 | 3,892,655 | |
11,559,435 |
14 | Invesco Municipal Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
New Jersey–11.80% | |||||
Colts Neck (Township of), NJ Board of Education; Series 2002, GO Bonds (h) | 5.00% | 02/01/2021 | $ 485 | $ 486,373 | |
East Orange (City of), NJ Board of Education; | |||||
Series 1998, COP (INS -AGM)(b)(g) | 0.00% | 02/01/2025 | 1,845 | 1,670,555 | |
Series 1998, COP (INS -AGM)(b)(g) | 0.00% | 02/01/2028 | 2,850 | 2,403,775 | |
Essex (County of), NJ Improvement Authority; Series 2004, Ref. RB (INS -NATL)(b) | 5.50% | 10/01/2028 | 1,000 | 1,362,970 | |
Essex (County of), NJ Improvement Authority (Newark); Series 2010 A, RB (h)(i) | 6.25% | 11/01/2020 | 1,000 | 1,058,380 | |
Essex (County of), NJ Utilities Authority; Series 2009, Ref. RB (INS -AGC)(b) | 5.00% | 04/01/2021 | 775 | 776,759 | |
Garden State Preservation Trust; | |||||
Series 2003 B, RB (INS -AGM)(b)(g) | 0.00% | 11/01/2025 | 2,000 | 1,810,860 | |
Series 2005 A, RB (INS -AGM)(b) | 5.75% | 11/01/2028 | 1,920 | 2,471,059 | |
Hudson (County of), NJ Improvement Authority; Series 2010 A, Ref. RB | 6.00% | 01/01/2040 | 1,000 | 1,015,660 | |
New Jersey (State of) Economic Development Authority; | |||||
Series 1992, RB (INS -NATL)(b) | 5.90% | 03/15/2021 | 11,340 | 11,823,991 | |
Series 2005 N-1, Ref. RB (INS- NATL)(b)(d)(m) | 5.50% | 09/01/2022 | 3,775 | 4,195,460 | |
Series 2005 N-1, Ref. RB (INS -AMBAC)(b) | 5.50% | 09/01/2026 | 1,500 | 1,847,895 | |
Series 2012, Ref. RB | 5.00% | 06/15/2029 | 1,000 | 1,077,870 | |
New Jersey (State of) Economic Development Authority (American Water Co., Inc.); Series 2010 B, Ref. RB (f) | 5.60% | 11/01/2034 | 1,000 | 1,026,140 | |
New Jersey (State of) Economic Development Authority (Kapkowski Road Landfill); | |||||
Series 2002, Ref. RB | 5.75% | 10/01/2021 | 825 | 864,650 | |
Series 2002, Ref. RB | 5.75% | 04/01/2031 | 1,000 | 1,162,360 | |
New Jersey (State of) Economic Development Authority (Port Newark Container Terminal LLC); Series 2017, Ref. RB (f) | 5.00% | 10/01/2037 | 955 | 1,125,840 | |
New Jersey (State of) Economic Development Authority (Provident Group-Montclair Properties LLC-Montclair State University Student Housing); Series 2010 A, RB (h)(i) | 5.88% | 06/01/2020 | 2,650 | 2,744,976 | |
New Jersey (State of) Economic Development Authority (The Goethals Bridge Replacement); | |||||
Series 2013, RB (f) | 5.13% | 01/01/2034 | 1,250 | 1,417,687 | |
Series 2013, RB (f) | 5.38% | 01/01/2043 | 1,000 | 1,129,830 | |
New Jersey (State of) Educational Facilities Authority (Institute of Technology); Series 2010 H, RB | 5.00% | 07/01/2031 | 500 | 513,950 | |
New Jersey (State of) Educational Facilities Authority (Kean University); Series 2009 A, Ref. RB (h)(i) | 5.50% | 09/01/2019 | 500 | 500,000 | |
New Jersey (State of) Health Care Facilities Financing Authority (AHS Hospital Corp.); Series 2011, RB (h)(i) | 6.00% | 07/01/2021 | 750 | 816,780 | |
New Jersey (State of) Health Care Facilities Financing Authority (Barnabas Health); Series 2011 A, Ref. RB (h)(i) | 5.63% | 07/01/2021 | 1,000 | 1,081,330 | |
New Jersey (State of) Health Care Facilities Financing Authority (Holy Name Medical Center); Series 2010, Ref. RB | 5.00% | 07/01/2025 | 500 | 514,680 | |
New Jersey (State of) Health Care Facilities Financing Authority (Robert Wood Johnson University Hospital); Series 2010, Ref. RB (h)(i) | 5.00% | 01/01/2020 | 550 | 556,914 | |
New Jersey (State of) Health Care Facilities Financing Authority (St. Clare’s Hospital, Inc.); Series 2004 A, Ref. RB (h) | 5.25% | 07/01/2023 | 1,000 | 1,154,200 | |
New Jersey (State of) Higher Education Student Assistance Authority; | |||||
Series 2010 1-A, Ref. RB (d) | 5.00% | 12/01/2025 | 2,280 | 2,300,953 | |
Series 2010 1-A, Ref. RB (d) | 5.00% | 12/01/2026 | 1,435 | 1,448,116 | |
Series 2018 B, Ref. RB (f) | 5.00% | 12/01/2024 | 1,110 | 1,296,902 | |
New Jersey (State of) Transportation Trust Fund Authority; | |||||
Series 2009 A, RB (g) | 0.00% | 12/15/2039 | 6,000 | 3,190,860 | |
Series 2010 A, RB (g) | 0.00% | 12/15/2030 | 1,600 | 1,188,848 | |
Series 2010 A, RB (g) | 0.00% | 12/15/2031 | 3,000 | 2,150,160 | |
Series 2011 A, RB | 5.50% | 06/15/2041 | 1,000 | 1,061,630 | |
Series 2011 B, RB | 5.50% | 06/15/2031 | 1,060 | 1,130,214 | |
Series 2018 A, Ref. RB | 5.00% | 12/15/2032 | 1,240 | 1,504,976 | |
Series 2018 A, Ref. RN (d)(m) | 5.00% | 06/15/2029 | 1,590 | 1,904,279 | |
Series 2018 A, Ref. RN (d)(m) | 5.00% | 06/15/2030 | 550 | 655,111 | |
Series 2018 A, Ref. RN (d)(m) | 5.00% | 06/15/2031 | 1,005 | 1,189,277 |
15 | Invesco Municipal Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
New Jersey–(continued) | |||||
Subseries 2016 A-1, RN | 5.00% | 06/15/2028 | $ 1,015 | $ 1,221,329 | |
New Jersey (State of) Turnpike Authority; | |||||
Series 2005 A, Ref. RB (INS -AGM)(b) | 5.25% | 01/01/2027 | 705 | 907,074 | |
Series 2013 A, RB (h)(i) | 5.00% | 07/01/2022 | 1,900 | 2,110,577 | |
New Jersey Economic Development Authority; Series 2004 A, RB (INS -BHAC)(b)(d) | 5.25% | 07/01/2026 | 7,000 | 8,603,140 | |
New Jersey Institute of Technology; | |||||
Series 2012 A, RB (h)(i) | 5.00% | 07/01/2022 | 155 | 172,179 | |
Series 2012 A, RB | 5.00% | 07/01/2042 | 345 | 374,204 | |
Newark (City of), NJ Housing Authority (South Ward Police Facility); Series 2009 A, RB (h)(i) | 6.75% | 12/01/2019 | 600 | 608,262 | |
Passaic (County of), NJ Improvement Authority (200 Hospital Plaza Corp.); Series 2010, RB (h)(i) | 5.00% | 05/01/2020 | 500 | 513,050 | |
Rahway Valley Sewerage Authority; Series 2005 A, RB (INS -NATL)(b)(g) | 0.00% | 09/01/2032 | 5,000 | 3,750,000 | |
Salem (County of), NJ Improvement Authority (Finlaw Street Office Building); Series 2007, RB (INS -AGM)(b) | 5.25% | 08/15/2032 | 1,300 | 1,303,081 | |
Salem (County of), NJ Pollution Control Financing Authority (Chambers); Series 2014 A, Ref. PCR (f) | 5.00% | 12/01/2023 | 1,000 | 1,086,950 | |
Tobacco Settlement Financing Corp.; Series 2018 A, Ref. RB | 5.25% | 06/01/2046 | 2,515 | 2,947,178 | |
89,229,294 | |||||
New Mexico–0.42% | |||||
Farmington (City of), NM (Public Service Co. of New Mexico San Juan); | |||||
Series 2010 A, Ref. PCR (i) | 5.20% | 06/01/2020 | 1,000 | 1,028,220 | |
Series 2010 C, Ref. PCR | 5.90% | 06/01/2040 | 2,100 | 2,170,392 | |
3,198,612 | |||||
New York–15.63% | |||||
Brooklyn Arena Local Development Corp. (Barclays Center); | |||||
Series 2009, RB (h)(i) | 6.25% | 01/15/2020 | 1,370 | 1,396,386 | |
Series 2009, RB (h)(i) | 6.38% | 01/15/2020 | 570 | 581,240 | |
Erie Tobacco Asset Securitization Corp.; Series 2005 A, RB | 5.00% | 06/01/2045 | 2,710 | 2,710,650 | |
Hudson Yards Infrastructure Corp.; Series 2017 A, Ref. RB (INS- AGM)(b) | 4.00% | 02/15/2047 | 3,320 | 3,737,390 | |
Metropolitan Transportation Authority; | |||||
Series 2009 B, RB (h)(i) | 5.25% | 11/15/2019 | 2,500 | 2,521,250 | |
Series 2010 D, RB (h)(i) | 5.25% | 11/15/2020 | 2,500 | 2,629,800 | |
Series 2013 A, RB | 5.00% | 11/15/2038 | 1,850 | 2,068,319 | |
Series 2016 B, Ref. RB | 5.00% | 11/15/2037 | 2,125 | 2,578,858 | |
New York & New Jersey (States of) Port Authority; | |||||
Eighty-Fifth Series 1993, RB (INS -NATL)(b) | 5.38% | 03/01/2028 | 2,000 | 2,412,940 | |
Two Hundred Seventh Series 2018, Ref. RB (d)(f) | 5.00% | 09/15/2028 | 3,300 | 4,245,120 | |
New York & New Jersey (States of) Port Authority (JFK International Air Terminal LLC); | |||||
Series 2010 8, RB | 6.00% | 12/01/2036 | 2,050 | 2,171,668 | |
Series 2010, RB | 6.00% | 12/01/2042 | 710 | 750,832 | |
New York (City of), NY Municipal Water Finance Authority; | |||||
Series 2012 FF, RB (d) | 5.00% | 06/15/2045 | 6,915 | 7,609,197 | |
Series 2013 DD, RB | 5.00% | 06/15/2035 | 3,200 | 3,657,856 | |
New York (City of), NY Transitional Finance Authority; | |||||
Series 2013 I, RB | 5.00% | 05/01/2038 | 5,000 | 5,652,050 | |
Series 2018 S-2A, Ref. RB | 5.00% | 07/15/2034 | 1,240 | 1,579,326 | |
Subseries 2011 D-1, RB (d) | 5.00% | 11/01/2033 | 4,845 | 5,242,242 | |
Subseries 2013, RB (d) | 5.00% | 11/01/2038 | 5,010 | 5,746,620 | |
New York (City of), NY Water & Sewer System; Series 2019 EE-2, Ref. RB (d) | 4.00% | 06/15/2040 | 2,805 | 3,272,762 | |
New York (Counties of), NY Tobacco Trust VI; Subseries 2016 A-1, Ref. RB | 5.75% | 06/01/2043 | 3,170 | 3,860,141 | |
New York (State of) Dormitory Authority; | |||||
Series 2009 C, RB (h)(i) | 5.00% | 10/01/2019 | 2,820 | 2,828,573 | |
Series 2009 C, RB (INS -AGC)(b) | 5.00% | 10/01/2023 | 180 | 180,511 | |
Series 2018 E, RB (d) | 5.00% | 03/15/2045 | 5,715 | 7,100,202 |
16 | Invesco Municipal Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
New York–(continued) | |||||
New York (State of) Dormitory Authority (General Purpose); | |||||
Series 2011 A, RB (d) | 5.00% | 03/15/2030 | $ 2,220 | $ 2,349,781 | |
Series 2013 A, RB | 5.00% | 02/15/2037 | 1,750 | 1,974,578 | |
Series 2014 C, RB (d) | 5.00% | 03/15/2040 | 5,510 | 6,326,527 | |
Series 2018 A, Ref. RB | 5.25% | 03/15/2038 | 1,240 | 1,596,165 | |
New York (State of) Metropolitan Transportation Authority; Subseries A-2, RB (SIFMA Municipal Swap Index + 0.58%)(i)(k) | 1.86% | 06/01/2020 | 580 | 580,394 | |
New York (State of) Utility Debt Securitization Authority; Series 2013 TE, RB (d) | 5.00% | 12/15/2031 | 1,905 | 2,207,647 | |
New York Liberty Development Corp. (3 World Trade Center); Series 2014, Class 1, Ref. RB (e) | 5.00% | 11/15/2044 | 5,315 | 5,903,849 | |
New York Liberty Development Corp. (7 World Trade Center); Series 2012, Class 2, Ref. RB | 5.00% | 09/15/2043 | 1,870 | 2,031,325 | |
New York Transportation Development Corp. (American Airlines, Inc.); Series 2016, Ref. RB (f) | 5.00% | 08/01/2031 | 1,685 | 1,779,983 | |
New York Transportation Development Corp. (Delta Air Lines, Inc. LaGuardia Airport Terminal C&D Redevelopment); | |||||
Series 2018, RB (f) | 5.00% | 01/01/2031 | 3,350 | 4,098,859 | |
Series 2018, RB (f) | 4.00% | 01/01/2036 | 1,510 | 1,670,377 | |
Series 2018, RB (f) | 5.00% | 01/01/2036 | 1,660 | 2,005,579 | |
New York Transportation Development Corp. (LaGuardia Airport Terminal B Redevelopment); | |||||
Series 2016 A, RB (f) | 5.00% | 07/01/2046 | 1,775 | 1,986,367 | |
Series 2016 A, RB (f) | 5.25% | 01/01/2050 | 3,235 | 3,647,786 | |
Rockland Tobacco Asset Securitization Corp.; Series 2001, RB | 5.75% | 08/15/2043 | 1,735 | 1,778,063 | |
Triborough Bridge and Tunnel Authority; Series 1992 Y, RB (h) | 6.13% | 01/01/2021 | 1,040 | 1,072,386 | |
TSASC, Inc.; Series 2016 B, Ref. RB | 5.00% | 06/01/2048 | 2,645 | 2,623,575 | |
118,167,174 | |||||
North Carolina–2.47% | |||||
Charlotte (City of), NC (Charlotte Douglas International Airport); Series 2019, RB | 4.00% | 07/01/2044 | 645 | 746,162 | |
North Carolina (State of) Capital Facilities Finance Agency (Duke University); Series 2015 B, Ref. RB (d) | 5.00% | 10/01/2055 | 9,585 | 11,373,945 | |
North Carolina (State of) Department of Transportation (I-77 HOT Lanes); Series 2015, RB (f) | 5.00% | 06/30/2054 | 3,120 | 3,476,429 | |
North Carolina (State of) Turnpike Authority; Series 2011, RB (d) | 5.00% | 07/01/2036 | 2,870 | 3,052,819 | |
18,649,355 | |||||
North Dakota–0.76% | |||||
McLean (County of), ND (Great River Energy); Series 2010 B, RB | 5.15% | 07/01/2040 | 1,000 | 1,025,290 | |
Ward (County of), ND (Trinity Obligated Group); | |||||
Series 2017 C, RB | 5.00% | 06/01/2043 | 2,165 | 2,485,745 | |
Series 2017 C, RB | 5.00% | 06/01/2048 | 1,930 | 2,209,657 | |
5,720,692 | |||||
Ohio–10.25% | |||||
Adams (County of), OH (Adams County Hospital); Series 2005, RB | 6.25% | 09/01/2020 | 250 | 249,685 | |
Akron (City of), OH (Community Learning Centers); Series 2012, Ref. RB | 5.00% | 12/01/2033 | 1,270 | 1,392,657 | |
Akron, Bath & Copley Joint Township Hospital District (Medical Center of Akron); Series 2012, RB | 5.00% | 11/15/2032 | 1,190 | 1,291,555 | |
Akron, Bath & Copley Joint Township Hospital District (Summa Health Obligated Group); Series 2016, Ref. RB | 5.25% | 11/15/2046 | 2,645 | 3,146,360 | |
American Municipal Power, Inc.; Series 2015 A, Ref. RB | 5.00% | 02/15/2042 | 1,075 | 1,217,222 | |
American Municipal Power, Inc. (Amp Fremont Energy Center); Series 2012, RB | 5.00% | 02/15/2037 | 2,470 | 2,663,030 | |
American Municipal Power, Inc. (Combined Hydroelectric); Series 2009 C, RB | 5.00% | 02/15/2020 | 1,000 | 1,017,390 | |
American Municipal Power, Inc. (Greenup Hydroelectric); Series 2016 A, RB | 5.00% | 02/15/2046 | 535 | 624,067 | |
Bowling Green (City of), OH (CFP I LLC - Bowling Green State University); Series 2010, RB (h)(i) | 5.75% | 06/01/2020 | 1,000 | 1,034,540 | |
Buckeye Tobacco Settlement Financing Authority; | |||||
Series 2007 A-2, RB | 5.75% | 06/01/2034 | 255 | 255,380 | |
Series 2007 A-2, RB | 5.88% | 06/01/2047 | 7,655 | 7,693,352 | |
Butler (County of), OH (Kettering Health Network Obligated Group); Series 2011, RB | 6.38% | 04/01/2036 | 375 | 403,425 |
17 | Invesco Municipal Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Ohio–(continued) | |||||
Cincinnati (City of), OH; Series 2011 A, Ref. RB (d) | 5.00% | 12/01/2036 | $ 5,000 | $ 5,441,000 | |
Cleveland (City of) & Cuyahoga (County of), OH Port Authority (Constellation Schools); Series 2014 A, Ref. RB | 6.50% | 01/01/2034 | 1,100 | 1,168,629 | |
Cleveland (City of), OH; Series 2005, Ref. GO Bonds (INS -AGM)(b) | 5.50% | 10/01/2019 | 2,825 | 2,834,379 | |
Cuyahoga (County of), OH (Medical Mart/Convention Center); Series 2010 F, RB | 5.00% | 12/01/2027 | 500 | 523,130 | |
Cuyahoga (County of), OH (Metrohealth System); Series 2017, Ref. RB | 5.50% | 02/15/2052 | 1,690 | 1,995,805 | |
Franklin (County of), OH (Ohio Presbyterian Retirement Services); Series 2010 A, RB | 5.63% | 07/01/2026 | 1,000 | 1,034,740 | |
Franklin (County of), OH (OhioHealth Corp.); | |||||
Series 2011 A, RB (d) | 5.00% | 11/15/2036 | 930 | 997,499 | |
Series 2011 A, RB | 5.00% | 11/15/2036 | 750 | 804,435 | |
Series 2011 A, RB (d) | 5.00% | 11/15/2041 | 1,500 | 1,603,155 | |
Gallia (County of), OH (Holzer Health System Obligated Group); Series 2012, Ref. RB | 8.00% | 07/01/2042 | 1,530 | 1,742,180 | |
Hamilton (County of), OH; | |||||
Series 2000 B, RB (INS -AMBAC)(b)(g) | 0.00% | 12/01/2023 | 2,000 | 1,885,680 | |
Series 2011 A, Ref. RB | 5.00% | 12/01/2032 | 1,000 | 1,079,080 | |
Hamilton (County of), OH (Life Enriching Communities); Series 2016, Ref.RB | 5.00% | 01/01/2046 | 1,490 | 1,663,183 | |
Hamilton (County of), OH (Stratford Heights-University of Cincinnati); Series 2010, Ref. RB (INS -AGM)(b) | 5.00% | 06/01/2030 | 1,000 | 1,027,500 | |
Hamilton (County of), OH (Trihealth, Inc. Obligated Group); Series 2017 A, RB | 5.00% | 08/15/2047 | 2,470 | 2,926,160 | |
Hancock (County of), OH (Blanchard Valley Regional Health Center); Series 2011 A, RB (h)(i) | 6.25% | 06/01/2021 | 1,300 | 1,414,920 | |
Lucas (County of), OH (Lutheran Homes); Series 2010 A, Ref. RB (h)(i) | 7.00% | 11/01/2020 | 1,000 | 1,066,380 | |
Lucas (County of), OH (ProMedica Healthcare System); Series 2018 A, Ref. RB | 5.25% | 11/15/2048 | 1,675 | 2,035,477 | |
Lucas (County of), OH (Promedica Healthcare); | |||||
Series 2011 A, RB (h)(i) | 5.75% | 11/15/2021 | 1,000 | 1,100,420 | |
Series 2011 A, RB (h)(i) | 6.00% | 11/15/2021 | 1,000 | 1,105,830 | |
Miami University; Series 2011, Ref. RB (d) | 5.00% | 09/01/2031 | 5,050 | 5,415,014 | |
Montgomery (County of), OH (Kettering Medical Center); Series 1996, Ref. RB (INS -NATL)(b) | 6.25% | 04/01/2020 | 620 | 637,118 | |
Montgomery (County of), OH (St. Leonard); Series 2010, Ref. RB | 6.38% | 04/01/2030 | 1,000 | 1,022,660 | |
Montgomery (County of), OH (Trousdale Foundation Properties); Series 2018 A, RB (e) | 6.00% | 04/01/2038 | 1,510 | 1,698,176 | |
Norwood (City of), OH (Cornerstone at Norwood); Series 2006, RB | 6.20% | 12/01/2031 | 1,340 | 1,340,992 | |
Ohio (State of) (Portsmouth Bypass); Series 2015, RB (INS -AGM)(b)(f) | 5.00% | 12/31/2039 | 805 | 926,120 | |
Ohio (State of) Air Quality Development Authority (Columbus Southern Power Co.); Series 2009 B, Ref. RB | 5.80% | 12/01/2038 | 1,500 | 1,514,235 | |
Ohio (State of) Air Quality Development Authority (Pratt Paper LLC); Series 2017, RB (e)(f) | 4.25% | 01/15/2038 | 585 | 635,111 | |
Ohio (State of) Higher Educational Facility Commission (Summa Health System); | |||||
Series 2010, RB (h)(i) | 5.75% | 05/15/2020 | 635 | 655,168 | |
Series 2010, RB | 5.75% | 11/15/2035 | 1,330 | 1,371,203 | |
Series 2010, RB | 5.75% | 11/15/2040 | 220 | 226,494 | |
Ohio (State of) Higher Educational Facility Commission (University of Dayton); Series 2011 A, RB | 5.38% | 12/01/2030 | 750 | 786,525 | |
Ohio (State of) Housing Finance Agency (Covenant House Apartments); Series 2008 C, RB (CEP -GNMA)(f) | 5.85% | 09/20/2028 | 535 | 540,949 | |
Ohio (State of) Housing Finance Agency (Mortgage-Backed Securities Program); Series 1999 A1, RB (CEP -GNMA)(f) | 5.25% | 09/01/2030 | 35 | 35,060 | |
Ohio (State of) Municipal Electric Generation Agency (Joint Venture 5); Series 2001, Beneficial Interest Ctfs. (INS -NATL)(b)(g) | 0.00% | 02/15/2030 | 1,000 | 799,840 | |
Ohio (State of) Turnpike Commission; Series 2010 A, Ref. RB (h)(i) | 5.00% | 02/15/2020 | 1,000 | 1,017,750 | |
Ohio State University; | |||||
Series 2010 D, RB (h) | 5.00% | 12/01/2030 | 45 | 62,134 | |
Series 2010 D, RB | 5.00% | 12/01/2030 | 955 | 1,309,343 | |
Summit (County of), OH Port Authority (University of Akron Student Housing); | |||||
Series 2011, RB (h)(i) | 5.00% | 01/01/2021 | 315 | 331,068 | |
Series 2011, RB | 5.00% | 01/01/2030 | 185 | 193,325 | |
Toledo (City of), OH; Series 2010, Ref. GO Bonds (INS -AGM)(b) | 5.00% | 12/01/2028 | 1,000 | 1,046,260 |
18 | Invesco Municipal Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Ohio–(continued) | |||||
University of Cincinnati; | |||||
Series 2010, RB (h)(i) | 5.00% | 12/01/2020 | $ 5 | $ 5,236 | |
Series 2010, RB | 5.00% | 06/01/2034 | 745 | 777,854 | |
University of Toledo; Series 2011 B, RB (h)(i) | 5.00% | 06/01/2021 | 650 | 694,655 | |
77,480,535 | |||||
Oklahoma–1.55% | |||||
Edmond Public Works Authority; | |||||
Series 2017, RB (d) | 5.00% | 07/01/2042 | 2,735 | 3,319,196 | |
Series 2017, RB (d) | 5.00% | 07/01/2047 | 2,670 | 3,217,724 | |
Oklahoma (State of) Development Finance Authority (OU Medicine); Series 2018 B, RB | 5.50% | 08/15/2057 | 2,180 | 2,655,153 | |
Oklahoma (State of) Development Finance Authority (Provident Oklahoma Education Resources, Inc.-Cross Village Student Housing); Series 2017, RB | 5.00% | 08/01/2052 | 1,945 | 1,147,550 | |
Oklahoma (State of) Water Resources Board; Series 2018 C, RB | 4.00% | 10/01/2048 | 1,260 | 1,402,506 | |
11,742,129 | |||||
Oregon–0.18% | |||||
Portland (Port of), OR (Portland International Airport); Series 2019 Twenty-Five B, RB (f) | 5.00% | 07/01/2044 | 1,105 | 1,373,184 | |
Pennsylvania–3.46% | |||||
Allegheny (County of), PA Hospital Development Authority (Allegheny Health Network Obligated Group Issue); Series 2018 A, Ref. RB | 5.00% | 04/01/2047 | 1,600 | 1,915,872 | |
Delaware River Port Authority; Series 2010 D, RB (h)(i) | 5.00% | 01/01/2020 | 2,750 | 2,785,007 | |
Franklin (County of), PA Industrial Development Authority (Chambersburg Hospital); Series 2010, RB (h)(i) | 5.38% | 07/01/2020 | 1,900 | 1,966,329 | |
Franklin (County of), PA Industrial Development Authority (Menno-Haven, Inc.); Series 2018, Ref. RB | 5.00% | 12/01/2024 | 500 | 561,555 | |
Pennsylvania (State of) Turnpike Commission; | |||||
Series 2014 A, RB (j) | 4.75% | 12/01/2037 | 990 | 1,043,777 | |
Series 2018 A-2, RB | 5.00% | 12/01/2048 | 1,195 | 1,483,126 | |
Series 2018 B, RB | 5.25% | 12/01/2048 | 1,170 | 1,448,823 | |
Subseries 2010 B-2, RB (h)(i)(j) | 5.75% | 12/01/2020 | 2,250 | 2,379,780 | |
Subseries 2010 B-2, RB (h)(i)(j) | 6.00% | 12/01/2020 | 1,400 | 1,485,064 | |
Subseries 2014 A-2, RB (j) | 5.13% | 12/01/2039 | 2,000 | 2,022,100 | |
Philadelphia (City of), PA; | |||||
Series 2017 A, RB | 5.00% | 10/01/2052 | 1,100 | 1,325,082 | |
Series 2017 B, Ref. RB (f) | 5.00% | 07/01/2047 | 4,940 | 5,863,385 | |
Philadelphia (City of), PA Industrial Development Authority (Thomas Jefferson University); | |||||
Series 2017 A, Ref. RB | 5.00% | 09/01/2035 | 720 | 866,153 | |
Series 2017 A, Ref. RB | 5.00% | 09/01/2047 | 845 | 996,027 | |
26,142,080 | |||||
Puerto Rico–2.42% | |||||
Children’s Trust Fund; | |||||
Series 2002, RB | 5.50% | 05/15/2039 | 3,450 | 3,508,995 | |
Series 2002, RB | 5.63% | 05/15/2043 | 1,490 | 1,515,479 | |
Series 2005 A, RB (g) | 0.00% | 05/15/2050 | 5,915 | 831,708 | |
Puerto Rico (Commonwealth of); Series 2004 A, GO Bonds (INS -NATL)(b) | 5.25% | 07/01/2021 | 490 | 494,322 | |
Puerto Rico (Commonwealth of) Electric Power Authority; | |||||
Series 2007 VV, Ref. RB (INS -NATL)(b) | 5.25% | 07/01/2033 | 735 | 796,225 | |
Series 2007 VV, Ref. RB (INS -NATL)(b) | 5.25% | 07/01/2035 | 645 | 697,232 | |
Puerto Rico (Commonwealth of) Highway & Transportation Authority; | |||||
Series 2007 N, Ref. RB (INS -NATL)(b) | 5.25% | 07/01/2032 | 770 | 834,326 | |
Series 2007 N, Ref. RB (INS -AGC)(b) | 5.25% | 07/01/2034 | 1,205 | 1,349,347 | |
Series 2007 N, Ref. RB (INS -AGC)(b) | 5.25% | 07/01/2036 | 1,000 | 1,114,450 | |
Puerto Rico (Commonwealth of) Public Buildings Authority; Series 2007 M-3, Ref. RB (INS -NATL)(b) | 6.00% | 07/01/2024 | 2,020 | 2,081,327 |
19 | Invesco Municipal Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Puerto Rico–(continued) | |||||
Puerto Rico Sales Tax Financing Corp.; | |||||
Series 2018 A-1, RB (g) | 0.00% | 07/01/2027 | $ 450 | $ 356,081 | |
Series 2018 A-1, RB (g) | 0.00% | 07/01/2029 | 1,495 | 1,099,707 | |
Series 2018 A-1, RB (g) | 0.00% | 07/01/2033 | 2,120 | 1,311,305 | |
Series 2018 A-1, RB | 4.50% | 07/01/2034 | 740 | 792,140 | |
Series 2019 A-2, RB | 4.33% | 07/01/2040 | 1,505 | 1,533,219 | |
18,315,863 | |||||
South Carolina–1.32% | |||||
South Carolina (State of) Jobs-Economic Development Authority (Palmetto Health Alliance); Series 2013 A, Ref. RB (h)(i) | 5.25% | 08/01/2023 | 1,600 | 1,855,312 | |
South Carolina (State of) Ports Authority; | |||||
Series 2015, RB (f) | 5.25% | 07/01/2050 | 1,865 | 2,167,074 | |
Series 2015, RB (f) | 5.25% | 07/01/2055 | 1,350 | 1,560,681 | |
South Carolina (State of) Public Service Authority; Series 2014, Ref. RB | 5.00% | 12/01/2046 | 1,190 | 1,354,708 | |
South Carolina (State of) Public Service Authority (Santee Cooper); Series 2010 B, Ref. RB (d) | 5.00% | 01/01/2033 | 3,000 | 3,081,510 | |
10,019,285 | |||||
South Dakota–0.46% | |||||
South Dakota (State of) Health & Educational Facilities Authority (Sanford Obligated Group); | |||||
Series 2014 B, RB | 5.00% | 11/01/2044 | 1,620 | 1,840,839 | |
Series 2015, Ref. RB | 5.00% | 11/01/2045 | 1,440 | 1,660,406 | |
3,501,245 | |||||
Tennessee–0.89% | |||||
Greeneville (Town of), TN Health & Educational Facilities Board (Ballad Health); Series 2018 A, Ref. RB | 5.00% | 07/01/2036 | 1,735 | 2,119,198 | |
Nashville (City of) & Davidson (County of), TN Metropolitan Government Health & Educational Facilities Board (Lipscomb University); Series 2019 A, Ref. RB | 5.00% | 10/01/2037 | 1,000 | 1,246,060 | |
Nashville (City of) & Davidson (County of), TN Metropolitan Government Health & Educational Facilities Board (The) (Vanderbilt University Medical Center); Series 2016 A, RB | 5.00% | 07/01/2046 | 1,450 | 1,696,660 | |
Tennessee Energy Acquisition Corp.; | |||||
Series 2006 C, RB | 5.00% | 02/01/2024 | 120 | 136,679 | |
Series A, RB | 5.25% | 09/01/2019 | 1,545 | 1,545,000 | |
6,743,597 | |||||
Texas–14.60% | |||||
Austin (City of), TX; | |||||
Series 2012, Ref. RB | 5.00% | 11/15/2042 | 1,710 | 1,904,513 | |
Series 2019 B, RB (f) | 5.00% | 11/15/2044 | 1,240 | 1,545,189 | |
Clifton Higher Education Finance Corp. (International Leadership of Texas); Series 2018 D, RB | 5.75% | 08/15/2033 | 1,675 | 1,884,492 | |
Dallas-Fort Worth (Cities of), TX International Airport; | |||||
Series 2012 G, Ref. RB | 5.00% | 11/01/2035 | 2,390 | 2,493,224 | |
Series 2013 A, RB (f) | 5.00% | 11/01/2030 | 1,825 | 2,016,607 | |
Harris County Industrial Development Corp. (Deer Park Refining Limited Partnership); Series 2006, RB (h)(i) | 5.00% | 12/01/2019 | 1,000 | 1,008,850 | |
Houston (City of), TX; | |||||
Series 2011 D, RB (d) | 5.00% | 11/15/2031 | 1,865 | 2,024,140 | |
Series 2011 D, RB (d) | 5.00% | 11/15/2033 | 900 | 976,797 | |
Series 2011 D, RB (d) | 5.00% | 11/15/2036 | 995 | 1,079,903 | |
Houston (City of), TX Airport System (United Airlines, Inc. Airport Improvement); Series 2015 C, Ref. RB (f) | 5.00% | 07/15/2020 | 850 | 871,565 | |
Houston (City of), TX Airport System (United Airlines, Inc. Terminal E); Series 2014, Ref. RB (f) | 4.75% | 07/01/2024 | 2,225 | 2,439,601 | |
La Vernia Higher Education Finance Corp. (Meridian World School); Series 2015 A, RB (e) | 5.50% | 08/15/2045 | 1,330 | 1,451,735 |
20 | Invesco Municipal Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Texas–(continued) | |||||
Lower Colorado River Authority; | |||||
Series 2012 A, Ref. RB (h)(i) | 5.00% | 05/15/2022 | $ 5 | $ 5,508 | |
Series 2012 A, Ref. RB | 5.00% | 05/15/2030 | 2,335 | 2,567,940 | |
Lower Colorado River Authority (LCRA Transmission Services Corp.); | |||||
Series 2011 A, Ref. RB | 5.00% | 05/15/2041 | 1,400 | 1,481,606 | |
Series 2018, Ref. RB | 5.00% | 05/15/2043 | 1,960 | 2,419,385 | |
Series 2019, Ref. RB | 5.00% | 05/15/2038 | 1,250 | 1,530,588 | |
New Hope Cultural Education Facilities Corp. (Presbyterian Village North); | |||||
Series 2018, Ref. RB | 5.00% | 10/01/2031 | 560 | 632,094 | |
Series 2018, Ref. RB | 5.00% | 10/01/2032 | 1,015 | 1,142,646 | |
New Hope Cultural Education Facilities Finance Corp. (4-K Housing, Inc.-Stoney Brook); Series 2017 B, RB | 5.00% | 07/01/2052 | 1,500 | 1,397,235 | |
New Hope Cultural Education Facilities Finance Corp. (Carillon Lifecare Community); Series 2016, Ref. RB | 5.00% | 07/01/2036 | 1,000 | 1,045,780 | |
New Hope Cultural Education Facilities Finance Corp. (CHF-Collegiate Housing College Station I, LLC-Texas A&M University); Series 2014 A, RB (INS -AGM)(b) | 5.00% | 04/01/2046 | 2,010 | 2,252,044 | |
New Hope Cultural Education Facilities Finance Corp. (Longhorn Village); Series 2017, Ref. RB | 5.00% | 01/01/2047 | 1,115 | 1,220,278 | |
North Texas Tollway Authority; | |||||
Series 2008 I, Ref. RB (INS -AGC)(b)(j) | 6.20% | 01/01/2042 | 1,000 | 1,238,990 | |
Series 2011 A, RB (d) | 5.50% | 09/01/2036 | 2,895 | 3,144,665 | |
Series 2015 B, Ref. RB (d)(m) | 5.00% | 01/01/2040 | 9,860 | 11,005,831 | |
San Antonio (City of), TX; Series 2013, RB | 5.00% | 02/01/2038 | 2,795 | 3,126,040 | |
Tarrant County Cultural Education Facilities Finance Corp.; Series 2016 A, Ref. RB (d) | 5.00% | 02/15/2047 | 3,455 | 4,091,411 | |
Tarrant County Cultural Education Facilities Finance Corp. (Air Force Village Obligated Group); | |||||
Series 2016, Ref. RB | 5.00% | 05/15/2037 | 1,915 | 2,113,068 | |
Series 2016, Ref. RB | 5.00% | 05/15/2045 | 1,290 | 1,406,758 | |
Tarrant County Cultural Education Facilities Finance Corp. (Buckingham Senior Living Community, Inc.); | |||||
Series 2007, RB (c) | 5.63% | 12/31/2049 | 1,000 | 700,000 | |
Series 2007, RB (c) | 5.75% | 12/31/2049 | 550 | 385,000 | |
Tarrant County Cultural Education Facilities Finance Corp. (C.C. Young Memorial Home); | |||||
Series 2007, RB | 5.75% | 02/15/2025 | 355 | 355,593 | |
Series 2017A, RB | 6.38% | 02/15/2048 | 1,940 | 2,179,700 | |
Tarrant County Cultural Education Facilities Finance Corp. (Texas Health Resources System); Series 2016 A, Ref. RB | 5.00% | 02/15/2041 | 4,225 | 5,048,875 | |
Texas (State of) Transportation Commission; | |||||
Series 2016 A, GO Bonds | 5.00% | 04/01/2044 | 1,695 | 2,027,491 | |
Series 2019, RB (g) | 0.00% | 08/01/2043 | 3,000 | 1,102,470 | |
Texas (State of) Transportation Commission (Central Texas Turnpike System); | |||||
Series 2012 A, Ref. RB | 5.00% | 08/15/2041 | 4,130 | 4,488,690 | |
Series 2015 B, Ref. RB (g) | 0.00% | 08/15/2036 | 3,475 | 1,787,818 | |
Series 2015 B, Ref. RB (g) | 0.00% | 08/15/2037 | 1,175 | 576,126 | |
Series 2015 C, Ref. RB | 5.00% | 08/15/2042 | 5,335 | 6,032,605 | |
Texas (State of) Water Development Board; Series 2017 A, RB | 4.00% | 10/15/2035 | 1,395 | 1,612,439 | |
Texas Municipal Gas Acquisition & Supply Corp. I; Series 2008 D, RB | 6.25% | 12/15/2026 | 5,450 | 6,430,618 | |
Texas Municipal Gas Acquisition & Supply Corp. III; | |||||
Series 2012, RB | 5.00% | 12/15/2027 | 1,500 | 1,664,865 | |
Series 2012, RB | 5.00% | 12/15/2028 | 1,475 | 1,634,684 | |
Series 2012, RB | 5.00% | 12/15/2030 | 1,500 | 1,655,715 | |
Series 2012, RB | 5.00% | 12/15/2031 | 4,475 | 4,930,465 | |
Series 2012, RB | 5.00% | 12/15/2032 | 1,000 | 1,100,280 | |
Texas Private Activity Bond Surface Transportation Corp. (Blueridge Transportation Group, LLC SH 288 Toll Lanes); Series 2016, RB (f) | 5.00% | 12/31/2055 | 1,140 | 1,281,554 |
21 | Invesco Municipal Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Texas–(continued) | |||||
Texas Private Activity Bond Surface Transportation Corp. (NTE Mobility Partners LLC North Tarrant Express Management Lanes); Series 2009, RB | 6.88% | 12/31/2039 | $ 1,550 | $ 1,579,931 | |
Texas Private Activity Bond Surface Transportation Corp. (NTE Mobility Partners Segments 3 LLC Segments 3A and 3B Facility); Series 2013, RB (f) | 7.00% | 12/31/2038 | 1,475 | 1,747,860 | |
Travis County Cultural Education Facilities Finance Corp. (Wayside Schools); Series 2012 A, RB | 5.25% | 08/15/2042 | 545 | 565,083 | |
110,406,345 | |||||
Utah–1.38% | |||||
Salt Lake (City of), UT; | |||||
Series 2018 A, RB (f) | 5.00% | 07/01/2048 | 1,305 | 1,576,088 | |
Series 2018 A, RB (f) | 5.25% | 07/01/2048 | 1,735 | 2,139,081 | |
Salt Lake City (City of), UT; Series 2017 A, RB (d)(f) | 5.00% | 07/01/2047 | 2,705 | 3,212,729 | |
Utah (County of), UT; Series 2016 B, RB (d) | 4.00% | 05/15/2047 | 3,300 | 3,541,230 | |
10,469,128 | |||||
Virgin Islands–0.59% | |||||
Virgin Islands (Government of) Public Finance Authority (Matching Fund Loan Note - Diageo); Series 2009 A, RB | 6.63% | 10/01/2029 | 725 | 726,870 | |
Virgin Islands (Government of) Public Finance Authority (Matching Fund Loan Note); | |||||
Series 2009 B, Ref. RB | 5.00% | 10/01/2025 | 1,500 | 1,496,250 | |
Series 2010 A, RB | 5.00% | 10/01/2025 | 425 | 423,938 | |
Series 2010 A, RB | 5.00% | 10/01/2029 | 1,850 | 1,845,375 | |
4,492,433 | |||||
Virginia–1.94% | |||||
Virginia (State of) Commonwealth Transportation Board; Series 2017, RB | 4.00% | 05/15/2042 | 1,320 | 1,490,333 | |
Virginia (State of) Small Business Financing Authority (95 Express Lanes, LLC); Series 2017, RB (f) | 5.00% | 01/01/2040 | 2,355 | 2,520,768 | |
Virginia (State of) Small Business Financing Authority (Elizabeth River Crossings Opco, LLC); | |||||
Series 2012, RB (f) | 6.00% | 01/01/2037 | 795 | 885,527 | |
Series 2012, RB (f) | 5.50% | 01/01/2042 | 2,950 | 3,226,179 | |
Virginia (State of) Small Business Financing Authority (Express Lanes, LLC); Series 2012, RB (f) | 5.00% | 07/01/2034 | 3,320 | 3,571,025 | |
Virginia (State of) Small Business Financing Authority (Transform 66 P3); Series 2017, RB (f) | 5.00% | 12/31/2056 | 2,600 | 2,999,230 | |
14,693,062 | |||||
Washington–3.73% | |||||
Bellevue (City of), WA Convention Center Authority (Compound Interest); Series 1994, Ref. RB (INS -NATL)(b)(g) | 0.00% | 02/01/2024 | 5,000 | 4,646,000 | |
Chelan (County of), WA Public Utility District No. 1; Series 2011 A, Ref. RB (f) | 5.50% | 07/01/2026 | 1,525 | 1,637,835 | |
Kalispel Tribe of Indians; Series 2018 A, RB (e) | 5.25% | 01/01/2038 | 1,320 | 1,477,423 | |
Seattle (Port of), WA; Series 2019, RB (f) | 5.00% | 04/01/2044 | 1,490 | 1,833,847 | |
Washington (State of); Series 2019 A, GO Bonds (d) | 5.00% | 08/01/2042 | 1,875 | 2,344,875 | |
Washington (State of) (SR 520 Corridor Program –Toll Revenue); Series 2011 C, GO Bonds (d) | 5.00% | 06/01/2033 | 1,500 | 1,593,930 | |
Washington (State of) Convention Center Public Facilities District; | |||||
Series 2018, RB | 5.00% | 07/01/2043 | 1,175 | 1,443,112 | |
Series 2018, RB (d) | 5.00% | 07/01/2048 | 4,190 | 5,105,096 | |
Series 2018, RB | 5.00% | 07/01/2048 | 840 | 1,019,710 | |
Washington (State of) Health Care Facilities Authority (Catholic Health Initiatives); Series 2011 A, RB (d) | 5.00% | 02/01/2041 | 2,325 | 2,442,622 | |
Washington (State of) Health Care Facilities Authority (Swedish Health Services); Series 2011 A, RB (h)(i) | 6.25% | 05/15/2021 | 1,025 | 1,114,226 | |
Washington (State of) Higher Education Facilities Authority (Whitworth University); Series 2012, RB | 5.25% | 10/01/2046 | 1,250 | 1,334,950 |
22 | Invesco Municipal Trust |
Interest
Rate |
Maturity
Date |
Principal
Amount (000) |
Value | ||
Washington–(continued) | |||||
Washington (State of) Tobacco Settlement Authority; | |||||
Series 2013, Ref. RB | 5.25% | 06/01/2031 | $ 1,100 | $ 1,128,347 | |
Series 2013, Ref. RB | 5.25% | 06/01/2033 | 1,000 | 1,088,070 | |
28,210,043 | |||||
West Virginia–0.13% | |||||
West Virginia (State of) Hospital Finance Authority (Thomas Health System); | |||||
Series 2008, RB (c) | 6.00% | 10/01/2020 | 475 | 299,250 | |
Series 2008, RB (c) | 6.25% | 10/01/2023 | 1,100 | 693,000 | |
992,250 | |||||
Wisconsin–2.41% | |||||
Public Finance Authority (American Dream at Meadowlands); | |||||
Series 2017, RB (e) | 6.75% | 08/01/2031 | 915 | 1,097,515 | |
Series 2017, RB (e) | 6.75% | 12/01/2042 | 2,135 | 2,550,215 | |
Public Finance Authority (KU Campus Development Corp.); Series 2016, RB (d) | 5.00% | 03/01/2046 | 3,735 | 4,382,836 | |
Public Finance Authority (Mallard Creek Stem Academy); Series 2019 A, RB (e) | 5.13% | 06/15/2039 | 625 | 646,088 | |
Superior (City of), WI (Superior Water, Light & Power Co.); | |||||
Series 2007 A, Ref. RB (f) | 5.38% | 11/01/2021 | 450 | 451,377 | |
Series 2007 B, RB (f) | 5.75% | 11/01/2037 | 410 | 411,275 | |
Wisconsin (State of) Health & Educational Facilities Authority (Ascension Health Alliance); Series 2013, RB | 4.00% | 11/15/2043 | 2,375 | 2,667,125 | |
Wisconsin (State of) Public Finance Authority (Maryland Proton Treatment Center); Series 2018 A-1, RB (e) | 6.38% | 01/01/2048 | 970 | 1,041,586 | |
Wisconsin (State of) Public Finance Authority (Prime Healthcare Foundation, Inc.); | |||||
Series 2018 A, RB | 5.20% | 12/01/2037 | 1,675 | 1,982,312 | |
Series 2018 A, RB | 5.35% | 12/01/2045 | 1,675 | 1,975,193 | |
Wisconsin (State of) Public Finance Authority (Roseman University of Health Sciences); Series 2015, Ref. RB | 5.75% | 04/01/2035 | 875 | 990,946 | |
18,196,468 | |||||
Wyoming–0.34% | |||||
Wyoming (State of) Municipal Power Agency; Series 2017 A, Ref. RB (INS- BAM)(b)(d) | 5.00% | 01/01/2047 | 2,205 | 2,599,078 | |
TOTAL INVESTMENTS IN SECURITIES(p)–159.42% (Cost $1,115,704,758) | 1,205,557,747 | ||||
FLOATING RATE NOTE OBLIGATIONS–(26.06)% | |||||
Notes
with interest and fee rates ranging from 1.82% to 2.27% at 08/31/2019 and contractual maturities of collateral ranging from 09/01/2022 to 04/01/2056 (See Note 1J)(q) |
(197,095,000) | ||||
VARIABLE RATE MUNI TERM PREFERRED SHARES–(34.75)% | (262,792,373) | ||||
OTHER ASSETS LESS LIABILITIES–1.39% | 10,552,037 | ||||
NET ASSETS APPLICABLE TO COMMON SHARES–100.00% | $ 756,222,411 |
23 | Invesco Municipal Trust |
ACA | – ACA Financial Guaranty Corp. |
AGC | – Assured Guaranty Corp. |
AGM | – Assured Guaranty Municipal Corp. |
AMBAC | – American Municipal Bond Assurance Corp. |
BAM | – Build America Mutual Assurance Co. |
BHAC | – Berkshire Hathaway Assurance Corp. |
CEP | – Credit Enhancement Provider |
COP | – Certificates of Participation |
Ctfs. | – Certificates |
GNMA | – Government National Mortgage Association |
GO | – General Obligation |
IDR | – Industrial Development Revenue Bonds |
INS | – Insurer |
NATL | – National Public Finance Guarantee Corp. |
PCR | – Pollution Control Revenue Bonds |
RAC | – Revenue Anticipation Certificates |
RB | – Revenue Bonds |
Ref. | – Refunding |
RN | – Revenue Notes |
SIFMA | – Securities Industry and Financial Markets Association |
VRD | – Variable Rate Demand |
Wts. | – Warrants |
(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) | Defaulted security. Currently, the issuer is partially or fully in default with respect to principal and/or interest payments. The aggregate value of these securities at August 31, 2019 was $3,333,759, which represented less than 1% of the Trust’s Net Assets. |
(d) | Underlying security related to TOB Trusts entered into by the Trust. See Note 1J. |
(e) | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at August 31, 2019 was $34,874,952, which represented 4.61% of the Trust’s Net Assets. |
(f) | Security subject to the alternative minimum tax. |
(g) | Zero coupon bond issued at a discount. |
(h) | Advance refunded; secured by an escrow fund of U.S. Government obligations or other highly rated collateral. |
(i) | Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put. |
(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) | Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2019. |
(l) | The issuer is paying less than stated interest, but is not in default on principal because scheduled principal payments have not yet begun. |
(m) | Security is subject to a reimbursement agreement which may require the Trust to pay amounts to a counterparty in the event of a significant decline in the market value of the security underlying the TOB Trusts. In case of a shortfall, the maximum potential amount of payments the Trust could ultimately be required to make under the agreement is $16,070,000. However, such shortfall payment would be reduced by the proceeds from the sale of the security underlying the TOB Trusts. |
(n) | Demand security payable upon demand by the Trust at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on August 31, 2019. |
(o) | Security subject to crossover refunding. |
(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 obligation but may be called upon to satisfy 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 August 31, 2019. At August 31, 2019, the Trust’s investments with a value of $312,344,544 are held by TOB Trusts and serve as collateral for the $197,095,000 in the floating rate note obligations outstanding at that date. |
Revenue Bonds | 82.7% |
Pre-Refunded Bonds | 10.5 |
General Obligation Bonds | 6.4 |
Other | 0.4 |
24 | Invesco Municipal Trust |
25 | Invesco Municipal Trust |
Investment income: | |
Interest | $25,042,458 |
Expenses: | |
Advisory fees | 3,304,269 |
Administrative services fees | 51,805 |
Custodian fees | 6,427 |
Interest, facilities and maintenance fees | 5,820,268 |
Transfer agent fees | 61,172 |
Trustees’ and officers’ fees and benefits | 16,608 |
Licensing fees | 50,816 |
Reports to shareholders | 35,311 |
Professional services fees | 64,674 |
Other | 54,800 |
Total expenses | 9,466,150 |
Net investment income | 15,576,308 |
Realized and unrealized gain from: | |
Net realized gain from Investment securities | 297,321 |
Change in net unrealized appreciation of Investment securities | 44,117,901 |
Net realized and unrealized gain | 44,415,222 |
Net increase in net assets resulting from operations applicable to common shares | $59,991,530 |
26 | Invesco Municipal Trust |
August
31, 2019 |
February
28, 2019 | |
Operations: | ||
Net investment income | $ 15,576,308 | $ 33,523,837 |
Net realized gain | 297,321 | 16,334 |
Change in net unrealized appreciation (depreciation) | 44,117,901 | (10,788,835) |
Net increase in net assets resulting from operations applicable to common shares | 59,991,530 | 22,751,336 |
Distributions to common shareholders from distributable earnings | (17,160,336) | (34,704,097) |
Return of capital applicable to common shares | — | (1,408,968) |
Total distributions | (17,160,336) | (36,113,065) |
Net increase (decrease) in net assets applicable to common shares | 42,831,194 | (13,361,729) |
Net assets applicable to common shares: | ||
Beginning of period | 713,391,217 | 726,752,946 |
End of period | $ 756,222,411 | $713,391,217 |
27 | Invesco Municipal Trust |
Cash provided by operating activities: | |
Net increase in net assets resulting from operations applicable to common shares | $ 59,991,530 |
Adjustments to reconcile the change in net assets applicable to common shares from operations to net cash provided by operating activities: | |
Purchases of investments | (59,351,463) |
Proceeds from sales of investments | 59,636,730 |
Proceeds from sales of short-term investments, net | 2,174,883 |
Amortization of premium on investment securities | 2,417,689 |
Accretion of discount on investment securities | (1,221,701) |
Decrease in receivables and other assets | 196,211 |
Increase in accrued expenses and other payables | 125,572 |
Net realized gain from investment securities | (297,321) |
Net change in unrealized appreciation on investment securities | (44,117,901) |
Net cash provided by operating activities | 19,554,229 |
Cash provided by (used in) financing activities: | |
Dividends paid to common shareholders from distributable earnings | (17,158,443) |
Decrease in payable for amount due custodian | (1,245,786) |
Proceeds of TOB Trusts | 7,240,000 |
Repayments of TOB Trusts | (8,390,000) |
Net cash provided by (used in) financing activities | (19,554,229) |
Net increase in cash and cash equivalents | — |
Cash and cash equivalents at beginning of period | — |
Cash and cash equivalents at end of period | $ — |
Supplemental disclosure of cash flow information: | |
Cash paid during the period for interest, facilities and maintenance fees | $ 5,821,132 |
28 | Invesco Municipal Trust |
Six
Months Ended August 31, 2019 |
Years
Ended February 28, |
Year
Ended February 29, 2016 |
Year
Ended February 28, 2015 | |||
2019 | 2018 | 2017 | ||||
Net asset value per common share, beginning of period | $ 12.90 | $ 13.14 | $ 13.38 | $ 14.11 | $ 14.15 | $ 13.31 |
Net investment income(a) | 0.28 | 0.61 | 0.71 | 0.76 | 0.83 | 0.80 |
Net gains (losses) on securities (both realized and unrealized) | 0.80 | (0.20) | (0.23) | (0.71) | (0.05) | 0.85 |
Total from investment operations | 1.08 | 0.41 | 0.48 | 0.05 | 0.78 | 1.65 |
Less: | ||||||
Dividends paid to common shareholders from net investment income | (0.31) | (0.63) | (0.72) | (0.78) | (0.82) | (0.81) |
Return of capital | — | (0.02) | — | — | — | — |
Total distributions | (0.31) | (0.65) | (0.72) | (0.78) | (0.82) | (0.81) |
Net asset value per common share, end of period | $ 13.67 | $ 12.90 | $ 13.14 | $ 13.38 | $ 14.11 | $ 14.15 |
Market value per common share, end of period | $ 12.74 | $ 11.89 | $ 11.82 | $ 12.63 | $ 13.02 | $ 12.74 |
Total return at net asset value(b) | 8.65% | 3.83% | 3.99% | 0.54% | 6.40% | 13.37% |
Total return at market value(c) | 9.86% | 6.39% | (0.90)% | 2.85% | 9.06% | 11.27% |
Net assets applicable to common shares, end of period (000’s omitted) | $ 756,222 | $713,391 | $ 726,753 | $740,251 | $780,532 | $782,996 |
Portfolio turnover rate(d) | 5% | 15% | 14% | 14% | 11% | 10% |
Ratios/supplemental data based on average net assets applicable to common shares outstanding: | ||||||
Ratio of expenses: | ||||||
With fee waivers and/or expense reimbursements | 2.56% (e) | 2.43% | 2.24% | 1.88% | 1.55% | 1.64% |
With fee waivers and/or expense reimbursements excluding interest, facilities and maintenance fees | 0.99% (e) | 1.01% | 1.01% | 0.98% | 0.97% | 1.02% |
Without fee waivers and/or expense reimbursements | 2.56% (e) | 2.43% | 2.24% | 1.88% | 1.55% | 1.64% |
Ratio of net investment income to average net assets | 4.21% (e) | 4.68% | 5.27% | 5.41% | 5.98% | 5.76% |
Senior securities: | ||||||
Total amount of preferred shares outstanding (000’s omitted) | $262,800 | $262,789 | $262,800 | $262,800 | $262,800 | $262,800 |
Asset coverage per preferred share(f) | $387,756 | $371,454 | $ 376,542 | $ 381,676 | $397,006 | $397,934 |
Liquidating preference per preferred share | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 |
(a) | Calculated using average shares outstanding. |
(b) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Not annualized for periods less than one year, if applicable. |
(c) | Total return assumes an investment at the common share market price at the beginning of the period indicated, reinvestment of all distributions for the period in accordance with the Trust’s dividend reinvestment plan, and sale of all shares at the closing common share market price at the end of the period indicated. Not annualized for periods less than one year, if applicable. |
(d) | Portfolio turnover is not annualized for periods less than one year, if applicable. |
(e) | Ratios are annualized and based on average daily net assets applicable to common shares (000’s omitted) of $735,354. |
(f) | Calculated by subtracting the Trust’s total liabilities (not including preferred shares, at liquidation value) from the Trust’s total assets and dividing this by the total number of preferred shares outstanding. |
29 | Invesco Municipal Trust |
A. | Security Valuations – Securities, including restricted securities, are valued according to the following policy. |
B. | Securities Transactions and Investment Income — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on the accrual basis from settlement date. Bond premiums and discounts are amortized and/or accreted over the lives of the respective securities. Pay-in-kind interest income and non-cash dividend income received in the form of securities in-lieu of cash are recorded at the fair value of the securities received. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date. |
C. | Country Determination — For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuer’s securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted. |
D. | Distributions — The Trust declares and pays monthly dividends from net investment income to common shareholders. Distributions from net realized capital gain, if any, are generally declared and paid annually and are distributed on a pro rata basis to common and preferred shareholders. |
E. | Cash and Cash Equivalents – For the purposes of the Statement of Cash Flows, the Trust defines Cash and Cash Equivalents as cash (including foreign currency), money market funds and other investments held in lieu of cash and excludes investments made with cash collateral received. |
30 | Invesco Municipal Trust |
F. | Federal Income Taxes – The Trust intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), necessary to qualify as a regulated investment company and to distribute substantially all of the Trust’s taxable earnings to shareholders. As such, the Trust will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements. |
G. | Interest, Facilities and Maintenance Fees – Interest, Facilities and Maintenance Fees include interest and related borrowing costs such as commitment fees, rating and bank agent fees and other expenses associated with lines of credit and Variable Rate Muni Term Preferred Shares ("VMTP Shares"), and interest and administrative expenses related to establishing and maintaining floating rate note obligations, if any. |
H. | Accounting Estimates – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Trust monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print. |
I. | Indemnifications – Under the Trust’s organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Trust. Additionally, in the normal course of business, the Trust enters into contracts, including the Trust’s servicing agreements, that contain a variety of indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote. |
J. | Floating Rate Note Obligations – The Trust invests in inverse floating rate securities, such as Tender Option Bonds (“TOBs”), for investment purposes and to enhance the yield of the Trust. Such securities may be purchased in the secondary market without first owning an underlying bond but generally are created through the sale of fixed rate bonds by the Trust to special purpose trusts established by a broker dealer or by the Trust (“TOB Trusts”) in exchange for cash and residual interests in the TOB Trusts’ assets and cash flows, which are in the form of inverse floating rate securities. The TOB Trusts finance the purchases of the fixed rate bonds by issuing floating rate notes to third parties and allowing the Trust to retain residual interests in the bonds. The floating rate notes issued by the TOB Trusts have interest rates that reset weekly and the floating rate note holders have the option to tender their notes to the TOB Trusts for redemption at par at each reset date. The residual interests held by the Trust (inverse floating rate securities) include the right of the Trust (1) to cause the holders of the floating rate notes to tender their notes at par at the next interest rate reset date, and (2) to transfer the municipal bond from the TOB Trust to the Trust, thereby collapsing the TOB Trust. Inverse floating rate securities tend to underperform the market for fixed rate bonds in a rising interest rate environment, but tend to outperform the market for fixed rate bonds when interest rates decline or remain relatively stable. |
31 | Invesco Municipal Trust |
K. | Other Risks – The value of, payment of interest on, repayment of principal for and the ability to sell a municipal security may be affected by constitutional amendments, legislative enactments, executive orders, administrative regulations, voter initiatives and the economics of the regions in which the issuers are located. |
32 | Invesco Municipal Trust |
Capital Loss Carryforward* | |||
Expiration | Short-Term | Long-Term | Total |
Not subject to expiration | $13,914,655 | $15,656,658 | $29,571,313 |
* | Capital loss carryforward as of the date listed above is reduced for limitations, if any, to the extent required by the Internal Revenue Code and may be further limited depending upon a variety of factors, including the realization of net unrealized gains or losses as of the date of any reorganization. |
Unrealized Appreciation (Depreciation) of Investments on a Tax Basis | |
Aggregate unrealized appreciation of investments | $93,120,374 |
Aggregate unrealized (depreciation) of investments | (6,108,626) |
Net unrealized appreciation of investments | $87,011,748 |
33 | Invesco Municipal Trust |
Six
Months Ended August 31, 2019 |
Year
Ended February 28, 2019 | |
Beginning shares | 55,320,227 | 55,320,227 |
Shares issued through dividend reinvestment | — | — |
Ending shares | 55,320,227 | 55,320,227 |
Declaration Date | Amount per Share | Record Date | Payable Date |
September 3, 2019 | $0.0517 | September 18, 2019 | September 30, 2019 |
October 1, 2019 | $0.0489 | October 16, 2019 | October 31, 2019 |
34 | Invesco Municipal Trust |
Approval of Investment Advisory and Sub-Advisory Contracts
35 Invesco Municipal Trust
36 Invesco Municipal Trust
Proxy Results
A Joint Annual Meeting (Meeting) of Shareholders of Invesco Municipal Trust (the Fund) was held on August 9, 2019. The Meeting was held for the following purposes:
(1). | Election of Trustees by Common Shareholders and Preferred Shareholders voting together as a single class. |
(2). | Election of Trustees by Preferred Shareholders voting as a separate class. |
The results of the voting on the above matters were as follows:
Matters | Votes For | Votes Withheld |
||||||||
(1). | Cynthia Hostetler | 46,265,545.87 | 3,084,611.08 | |||||||
Eli Jones | 47,459,754.87 | 1,890,402.08 | ||||||||
Ann Barnett Stern | 47,486,552.19 | 1,863,604.76 | ||||||||
Raymond Stickel, Jr. | 46,082,641.53 | 3,267,515.42 | ||||||||
(2). | Prema Mathai-Davis | 2,628.00 | 0.00 |
37 Invesco Municipal Trust
SEC file number: 811-06362 | VK-CE-MUNI-SAR-1 |
ITEM 2. | CODE OF ETHICS. |
Not applicable for a semi-annual report.
ITEM 3. | AUDIT COMMITTEE FINANCIAL EXPERT. |
Not applicable.
ITEM 4. | PRINCIPAL ACCOUNTANT FEES AND SERVICES. |
During the reporting period, PricewaterhouseCoopers LLC (PwC) advised the Audit Committee of the following matters for consideration under the SECs auditor independence rules. PwC advised the Audit Committee that a PwC Manager and a PwC Senior Associate each held financial interests in investment companies within the Invesco Fund Complex that were inconsistent with the requirements of Rule 2-01(c)(1) of Regulation S-X. PwC noted, among other things, that during the time of its audit, the engagement team was not aware of the investments, (or with respect to the PwC Senior Associate was not aware until after the investments were confirmed as SEC exceptions), the individuals were not in the chain of command of the audit or the audit partners of Invesco or the affiliate of the Registrant, the services each individual provided were not relied upon by the audit engagement team with respect to the audit of the Registrant or its affiliates (or with respect to the PwC Senior Associate, the services were performed by an individual who did not have decision-making responsibility for matters that materially affected the audit and were reviewed by team members at least two levels higher than the PwC Senior Associate), and the investments were not material to the net worth of each individual or their respective immediate family members which they considered in reaching their conclusion. PwC advised the Audit Committee that it believes its objectivity and impartiality had not been adversely affected by these matters as they related to the audit of the Registrant.
ITEM 5. | AUDIT COMMITTEE OF LISTED REGISTRANTS. |
Not applicable.
ITEM 6. | SCHEDULE OF INVESTMENTS. |
Investments in securities of unaffiliated issuers is included as part of the reports to stockholders filed under Item 1 of this Form.
ITEM 7. | DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable.
ITEM 8. | PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable.
ITEM 9. | PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS. |
Not applicable.
ITEM 10. | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. |
None.
ITEM 11. | CONTROLS AND PROCEDURES. |
(a) | As of October 16, 2019, an evaluation was performed under the supervision and with the participation of the officers of the Registrant, including the Principal Executive Officer (PEO) and Principal Financial Officer (PFO), to assess the effectiveness of the Registrants disclosure controls and procedures, as that term is defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the Act), as amended. Based on that evaluation, the Registrants officers, including the PEO and PFO, concluded that, as of October 16, 2019, the Registrants disclosure controls and procedures were reasonably designed to ensure: (1) that information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the time periods specified by the rules and forms of the Securities and Exchange Commission; and (2) that material information relating to the Registrant is made known to the PEO and PFO as appropriate to allow timely decisions regarding required disclosure. |
(b) | There have been no changes in the Registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the period covered by the report that has materially affected, or is reasonably likely to materially affect, the Registrants internal control over financial reporting. |
ITEM 12. | DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES |
Not applicable.
ITEM 13. | EXHIBITS. |
13(a) (1) | Not applicable. |
13(a) (2) | Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940. |
13(a) (3) | Not applicable. |
13(a) (4) | Not applicable |
13(b) | Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(b) under the Investment Company Act of 1940. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Registrant: Invesco Municipal Trust
By: |
/s/ Sheri Morris | |
Sheri Morris | ||
Principal Executive Officer | ||
Date: | November 7, 2019 |
Pursuant to the requirements of the Securities and Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
By: | /s/ Sheri Morris | |
Sheri Morris | ||
Principal Executive Officer | ||
Date: | November 7, 2019 | |
By: |
/s/ Kelli Gallegos | |
Kelli Gallegos | ||
Principal Financial Officer | ||
Date: | November 7, 2019 |
I, Sheri Morris, Principal Executive Officer, certify that:
1. I have reviewed this report on Form N-CSR of Invesco Municipal Trust;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;
4. The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidating subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
(d) Disclosed in this report any change in this registrants internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting.
5. The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing equivalent functions):
(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize and report financial information; and
(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting.
Date: November 7, 2019 | /s/ Sheri Morris | |||||
Sheri Morris, Principal Executive Officer |
I, Kelli Gallegos, Principal Financial Officer, certify that:
1. I have reviewed this report on Form N-CSR of Invesco Municipal Trust;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;
4. The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940 for the registrant and have:
(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidating subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
(d) Disclosed in this report any change in this registrants internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting.
5. The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing equivalent functions):
(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize and report financial information; and
(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting.
Date: November 7, 2019 | /s/ Kelli Gallegos | |||||
Kelli Gallegos, Principal Financial Officer |
CERTIFICATION OF SHAREHOLDER REPORT
In connection with the Certified Shareholder Report of Invesco Municipal Trust (the Company) on Form N-CSR for the period ended August 31, 2019, as filed with the Securities and Exchange Commission (the Report), I, Sheri Morris, Principal Executive Officer of the Company, certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that:
(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
Date: November 7, 2019 | /s/ Sheri Morris | |||||
Sheri Morris, Principal Executive Officer |
A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided by the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.
CERTIFICATION OF SHAREHOLDER REPORT
In connection with the Certified Shareholder Report of Invesco Municipal Trust (the Company) on Form N-CSR for the period ended August 31, 2019, as filed with the Securities and Exchange Commission (the Report), I, Kelli Gallegos, Principal Financial Officer of the Company, certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that:
(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
Date: November 7, 2019 | /s/ Kelli Gallegos | |||||
Kelli Gallegos, Principal Financial Officer |
A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided by the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.
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