N-Q 1 d566595dnq.htm IQI 05-31-2013 N-Q IQI 05-31-2013 N-Q

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM N-Q

 

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS

OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-06591

 

 

Invesco Quality Municipal Income Trust

(Exact name of registrant as specified in charter)

 

 

1555 Peachtree Street, N.E., Atlanta, Georgia 30309

(Address of principal executive offices) (Zip code)

 

 

Philip A. Taylor 1555 Peachtree Street, N.E., Atlanta, Georgia 30309

(Name and address of agent for service)

 

 

Registrant’s telephone number, including area code: (713) 626-1919

Date of fiscal year end: 2/28

Date of reporting period: 05/31/13

 

 

 

Item 1. Schedule of Investments.

 

 

  Invesco Quality Municipal Income Trust
 

Quarterly Schedule of Portfolio Holdings

May 31, 2013

 

 

 

 

  LOGO    
 

 

invesco.com/us

  

 

MS-CE-QMINC-QTR-1    05/13

  

 

Invesco Advisers, Inc.

Schedule of Investments

May 31, 2013

(Unaudited)

 

          Interest    
Rate		   Maturity
Date		      Principal
Amount
(000)		     
Value		  

Municipal Obligations–156.62%*

           

Alabama–1.07%

           

Alabama (State of) Incentives Financing Authority; Series 2012 A, Special Obligation RB

    5.00%     09/01/42       $         1,965       $     2,135,366   

Birmingham (City of) Airport Authority; Series 2010, RB (INS-AGM) (a)

    5.25%     07/01/30         2,100         2,315,565   

Birmingham (City of) Water Works Board; Series 2011, Water RB (INS-AGM) (a)(b)

    5.00%     01/01/36         3,060         3,338,827   
                             7,789,758   

Alaska–0.64%

           

Alaska (State of) Industrial Development & Export Authority (Providence Health Services); Series 2011 A, RB (b)

    5.50%     10/01/41         4,065         4,649,628   

Arizona–2.40%

           

Apache (County of) Industrial Development Authority (Tucson Electric Power Co.); Series 2012 A, PCR

    4.50%     03/01/30         1,035         1,064,736   

Arizona (State of) Health Facilities Authority (Phoenix Children’s Hospital); Series 2012, Ref. Hospital System RB

    5.00%     02/01/42         2,050         2,167,240   

Arizona (State of) Transportation Board; Series 2011 A, Ref. Sub. Highway RB (b)

    5.00%     07/01/36         3,450         3,872,177   

Arizona (State of); Series 2008 A, COP (INS-AGM) (a)

    5.00%     09/01/24         1,995         2,178,161   

Maricopa County Pollution Control Corp. (Arizona Public Service Co. - Palo Verde); Series 2009 A, Ref. PCR (c)

    6.00%     05/01/14         1,475         1,537,643   

Phoenix (City of) Industrial Development Authority (Rowan University); Series 2012, Lease RB

    5.00%     06/01/42         2,780         2,931,399   

Pima (County of) Industrial Development Authority (Edkey Charter Schools); Series 2013, Ref. Education Facility RB

    6.00%     07/01/33         1,000         1,040,070   

Pima (County of) Industrial Development Authority (Tucson Electric Power Co.); Series 2010 A, IDR

    5.25%     10/01/40         2,525         2,743,816   
                             17,535,242   

California–25.92%

           

Alhambra Unified School District (Election of 2004);

           

Series 2009 B, Unlimited Tax CAB GO Bonds (INS-AGC) (a)(d)

    0.00%     08/01/35         3,570         1,216,835   

Series 2009 B, Unlimited Tax CAB GO Bonds (INS-AGC) (a)(d)

    0.00%     08/01/36         5,770         1,835,725   

Bay Area Toll Authority (San Francisco Bay Area); Series 2007 F, Toll Bridge RB (c)(e)

    5.00%     04/01/17         1,000         1,162,670   

Beverly Hills Unified School District (Election of 2008);

           

Series 2009, Unlimited Tax CAB GO Bonds (d)

    0.00%     08/01/26         1,390         904,417   

Series 2009, Unlimited Tax CAB GO Bonds (d)

    0.00%     08/01/31         2,680         1,306,312   

California (State of) Health Facilities Financing Authority (Cedars-Sinai Medical Center); Series 2005, Ref. RB

    5.00%     11/15/34         1,700         1,805,111   

California (State of) Health Facilities Financing Authority (Kaiser Permanente); Series 2006 A, RB

    5.25%     04/01/39         2,000         2,164,880   

California (State of) Health Facilities Financing Authority (Sutter Health); Series 2013 A, RB

    5.00%     08/15/52         3,000         3,201,210   

California (State of) Pollution Control Finance Authority;

           

Series 2012, Water Furnishing RB (f)(g)

    5.00%     07/01/30         1,450         1,492,065   

Series 2012, Water Furnishing RB (f)(g)

    5.00%     07/01/37         3,195         3,225,065   

California (State of) Public Works Board (Department of Mental Health - Coalinga State Hospital); Series 2004 A, Lease RB (c)(e)

    5.00%     06/01/14         5,000         5,237,650   

California (State of) Statewide Communities Development Authority (California Baptist University); Series 2007 A, RB

    5.40%     11/01/27         4,000         4,261,440   

California (State of) Statewide Communities Development Authority (John Muir Health);

           

Series 2006 A, RB

    5.00%     08/15/28         1,015         1,098,007   

Series 2006 A, RB

    5.00%     08/15/32         8,000         8,716,320   

California (State of) Statewide Communities Development Authority (Kaiser Permanente); Series 2012 A, RB

    5.00%     04/01/42         5,260         5,715,200   

California (State of);

           

Series 2003, Unlimited Tax GO Bonds (c)(e)

    5.00%     08/01/13         340         342,710   

Series 2003, Unlimited Tax GO Bonds (c)(e)

    5.00%     08/01/13         80         80,638   

Series 2003, Unlimited Tax GO Bonds

    5.00%     02/01/24         580         584,153   

 

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

Invesco Quality Municipal Income Trust

          Interest    
Rate		   Maturity
Date		      Principal
Amount
(000)		     
Value		  

California–(continued)

           

Series 2003, Unlimited Tax GO Bonds (c)(e)

    5.25%     08/01/13       $ 145       $ 146,217   

Series 2003, Unlimited Tax GO Bonds (c)(e)

    5.25%     08/01/13                 4,855             4,895,733   

Series 2012, Various Purpose Unlimited Tax GO Bonds

    5.00%     04/01/42         2,460         2,676,751   

Series 2012, Various Purpose Unlimited Tax GO Bonds

    5.25%     04/01/35         4,305         4,878,254   

Series 2013, Ref. Unlimited Tax GO Bonds

    5.00%     10/01/24         2,325         2,645,338   

Series 2013, Various Purpose Unlimited Tax GO Bonds

    5.00%     02/01/38         2,600         2,873,572   

Series 2013, Various Purpose Unlimited Tax GO Bonds

    5.00%     02/01/43         1,250         1,367,700   

Series 2013, Various Purpose Unlimited Tax GO Bonds

    5.00%     04/01/43         2,000         2,191,000   

California Infrastructure & Economic Development Bank (The Scripps Research Institute); Series 2005 A, RB

    5.00%     07/01/29         5,000         5,367,750   

California Infrastructure & Economic Development Bank; Series 2003 A, First Lien Bay Area Toll Bridges Seismic Retrofit RB (b)(c)(e)

    5.00%     01/01/28         5,000         6,501,750   

Clovis Unified School District (Election of 2004); Series 2004 A, Unlimited Tax CAB GO Bonds (INS-NATL) (a)(d)

    0.00%     08/01/29         695         349,641   

Dry Creek Joint Elementary School District (Election of 2008-Measure E);

           

Series 2009, Unlimited Tax CAB GO Bonds (d)

    0.00%     08/01/40         4,685         1,175,467   

Series 2009, Unlimited Tax CAB GO Bonds (d)

    0.00%     08/01/41         4,965         1,177,400   

Series 2009, Unlimited Tax CAB GO Bonds (d)

    0.00%     08/01/42         5,265         1,182,993   

Series 2009, Unlimited Tax CAB GO Bonds (d)

    0.00%     08/01/43         3,460         732,171   

Series 2009, Unlimited Tax CAB GO Bonds (d)

    0.00%     08/01/44         4,825         963,890   

East Bay Municipal Utility District; Series 2010 A, Ref. Sub. Water System RB (b)

    5.00%     06/01/36         4,770         5,503,626   

El Segundo Unified School District (Election of 2008);

           

Series 2009 A, Unlimited Tax CAB GO Bonds (d)

    0.00%     08/01/31         1,775         754,499   

Series 2009 A, Unlimited Tax CAB GO Bonds (d)

    0.00%     08/01/32         1,980         796,950   

Golden State Tobacco Securitization Corp.; Series 2005 A, Enhanced Tobacco Settlement Asset-Backed RB

    5.00%     06/01/45         1,500         1,557,075   

Los Angeles (City of) Department of Airports (Los Angeles International Airport); Series 2010 A, Sr. RB (b)

    5.00%     05/15/35         6,000         6,686,400   

Los Angeles (City of) Department of Water & Power;

           

Series 2004 C, Water System RB (c)(e)

    5.00%     07/01/14         3,920         4,120,194   

Series 2012 A, Water System RB (b)

    5.00%     07/01/43         6,510         7,234,563   

Los Angeles (City of); Series 2004 A, Unlimited Tax GO Bonds (c)(e)

    5.00%     09/01/14         6,000         6,357,120   

Los Angeles Community College District; Series 2003 B, Unlimited Tax GO Bonds (INS-AGM) (a)

    5.00%     08/01/27         4,000         4,027,720   

Menifee Union School District (Election of 2008); Series 2009 C, Unlimited Tax CAB GO Bonds (INS-AGC) (a)(d)

    0.00%     08/01/34         1,985         685,738   

Milpitas (City of) Redevelopment Agency (Redevelopment Area No. 1); Series 2003, Tax Allocation RB (INS-NATL) (a)

    5.00%     09/01/22         3,040         3,070,309   

Moreland School District (Crossover); Series 2006 C, Ref. Unlimited Tax CAB GO Bonds (INS-AMBAC) (a)(d)

    0.00%     08/01/29         3,955         1,903,502   

Oak Grove School District (Election of 2008); Series 2009 A, Unlimited Tax CAB GO Bonds (d)

    0.00%     08/01/28         2,875         1,529,443   

Oxnard (City of) Finance Authority (Redwood Trunk Sewer & Headworks); Series 2004 A, Wastewater RB (INS-NATL) (a)

    5.00%     06/01/29         4,000         4,116,880   

Patterson Joint Unified School District (Election of 2008);

           

Series 2009 B, Unlimited Tax CAB GO Bonds (INS-AGM) (a)(d)

    0.00%     08/01/36         4,025         1,207,540   

Series 2009 B, Unlimited Tax CAB GO Bonds (INS-AGM) (a)(d)

    0.00%     08/01/37         1,590         454,994   

Poway Unified School District (Election of 2008 - School Facilities Improvement District No. 2007-1);

           

Series 2009 A, Unlimited Tax CAB GO Bonds (d)

    0.00%     08/01/27         4,005         2,264,707   

Series 2009 A, Unlimited Tax CAB GO Bonds (d)

    0.00%     08/01/31         5,000         2,202,200   

Regents of the University of California;

           

Series 2007 J, General RB (INS-AGM) (a)(b)

    4.50%     05/15/31         2,760         2,862,727   

Series 2007 J, General RB (INS-AGM) (a)(b)

    4.50%     05/15/35         2,240         2,313,853   

Series 2009 O, General RB

    5.25%     05/15/39         500         573,730   

San Diego (County of) Regional Airport Authority; Series 2010 A, Sub. RB

    5.00%     07/01/34         875         947,835   

San Diego (County of) Water Authority; Series 2004 A, Revenue COP (INS-AGM) (a)(b)

    5.00%     05/01/29         4,240         4,510,342   

San Diego Community College District (Election of 2006); Series 2011, Unlimited Tax GO Bonds (b)

    5.00%     08/01/36         6,790         7,649,003   

 

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

Invesco Quality Municipal Income Trust

          Interest    
Rate		   Maturity
Date		      Principal
Amount
(000)		     
Value		  

California–(continued)

           

San Francisco (City & County of) (Laguna Honda Hospital); Series 2008 R3, Ref. Unlimited Tax GO Bonds (INS-AGC) (a)(b)

    5.00%     06/15/28       $         2,040       $     2,182,514   

San Francisco (City & County of) Airport Commission (San Francisco International Airport);

           

Series 2011 F, Ref. Second Series RB (f)

    5.00%     05/01/25         1,000         1,131,090   

Series 2011 F, Ref. Second Series RB (f)

    5.00%     05/01/26         1,995         2,236,215   

Series 2011 G, Ref. Second Series RB

    5.25%     05/01/27         5,000         5,756,400   

San Francisco (City & County of) Public Utilities Commission (Water System Improvement Program); Subseries 2011 A, Water RB (b)

    5.00%     11/01/36         4,320         4,860,821   

San Francisco (City & County of) Public Utilities Commission; Series 2009 A, Water RB

    5.00%     11/01/27         2,500         2,897,900   

San Jose Evergreen Community College District (Election of 2004); Series 2008 B, Unlimited Tax CAB GO Bonds (INS-AGM) (a)(d)

    0.00%     09/01/30         3,300         1,582,779   

Twin Rivers Unified School District; Series 2009, Unlimited Tax CAB GO BAN (d)

    0.00%     04/01/14         3,050         3,030,297   

William S. Hart Union High School District (Election of 2008);

           

Series 2009 A, Unlimited Tax CAB GO Bonds (d)

    0.00%     08/01/32         17,570         6,927,851   

Series 2009 A, Unlimited Tax CAB GO Bonds (d)

    0.00%     08/01/33         5,725         2,133,478   
                             189,546,330   

Colorado–1.83%

           

Colorado (State of) Educational & Cultural Facilities Authority (Peak to Peak Charter School); Series 2004, Ref. & Improvement Charter School RB (INS-SGI) (a)

    5.25%     08/15/34         3,585         3,634,688   

Colorado (State of) Health Facilities Authority (Catholic Health Initiatives); Series 2009 A, RB

    5.00%     07/01/39         4,000         4,323,600   

Colorado (State of) Housing & Finance Authority; Series 2000 D-2, Sr. Single Family Program RB (f)

    6.90%     04/01/29         75         76,441   

Colorado (State of) Regional Transportation District (Denver Transit Partners Eagle P3); Series 2010, Private Activity RB

    6.00%     01/15/41         3,200         3,647,200   

Denver (City of) Convention Center Hotel Authority; Series 2006, Ref. Sr. RB (INS-SGI) (a)

    5.00%     12/01/30         1,590         1,665,875   
                             13,347,804   

Connecticut–0.63%

           

Connecticut (State of) Health & Educational Facilities Authority (Hartford Healthcare); Series 2011 A, RB

    5.00%     07/01/41         4,300         4,586,724   

Delaware–0.14%

           

New Castle (County of) (Newark Charter School, Inc.); Series 2006, RB

    5.00%     09/01/36         1,000         1,004,090   

District of Columbia–3.13%

           

District of Columbia (Provident Group - Howard Properties LLC); Series 2013, Student Dormitory RB

    5.00%     10/01/45         1,910         1,977,595   

District of Columbia Water & Sewer Authority;

           

Series 2008 A, Ref. Public Utility Sub. Lien RB (INS-AGC) (a)

    5.00%     10/01/27         575         662,699   

Series 2008 A, Ref. Public Utility Sub. Lien RB (INS-AGC) (a)

    5.00%     10/01/28         265         304,384   

District of Columbia;

           

Series 2006 B-1, Ballpark RB (INS-NATL) (a)

    5.00%     02/01/31         10,000         10,253,800   

Series 2008 E, Unlimited Tax GO Bonds (INS-BHAC) (a)(b)

    5.00%     06/01/26         380         422,032   

Series 2008 E, Unlimited Tax GO Bonds (INS-BHAC) (a)(b)

    5.00%     06/01/27         380         423,936   

Series 2008 E, Unlimited Tax GO Bonds (INS-BHAC) (a)(b)

    5.00%     06/01/28         760         845,158   

Series 2009 A, Sec. Income Tax RB (b)

    5.25%     12/01/27         3,040         3,653,776   

Metropolitan Washington Airports Authority;

           

Series 2004 C-1, Ref. Airport System RB (INS-AGM) (a)(f)

    5.00%     10/01/20         3,000         3,178,230   

Series 2009 B, Airport System RB (INS-BHAC) (a)

    5.00%     10/01/29         1,000         1,127,020   
                             22,848,630   

Florida–13.36%

           

Broward (County of); Series 2012 A, Water & Sewer Utility RB

    5.00%     10/01/37         2,145         2,421,984   

Citizens Property Insurance Corp.; Series 2012 A-1, Sr. Sec. RB

    5.00%     06/01/21         5,110         6,021,062   

Florida (State of) Ports Financing Commission (State Transportation Trust Fund); Series 2011 B, Ref. RB (f)

    5.13%     06/01/27         995         1,132,638   

 

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

Invesco Quality Municipal Income Trust

          Interest    
Rate		   Maturity
Date		      Principal
Amount
(000)		     
Value		  

Florida–(continued)

           

Highlands (County of) Health Facilities Authority (Adventist Health System/Sunbelt Obligated Group);

           

Series 2005 C, Ref. Hospital RB

    5.00%     11/15/31       $         3,000       $     3,201,930   

Series 2006 C, RB (c)(e)

    5.25%     11/15/16         100         115,526   

Series 2006 C, RB

    5.25%     11/15/36         3,900         4,313,049   

Martin (County of) Health Facilities Authority (Martin Memorial Medical Center); Series 2012, RB

    5.00%     11/15/27         4,630         4,958,452   

Miami-Dade (County of) (Building Better Communities Program); Series 2009 B-1, Unlimited Tax GO Bonds

    6.00%     07/01/38         3,000         3,512,310   

Miami-Dade (County of) (Miami International Airport-Hub of the Americas); Series 2009 B, Aviation RB (INS-AGC) (a)

    5.00%     10/01/25         2,850         3,254,985   

Miami-Dade (County of) Educational Facilities Authority (University of Miami); Series 2008 A, RB (INS-BHAC) (a)

    5.50%     04/01/38         1,300         1,421,394   

Miami-Dade (County of) Expressway Authority; Series 2010 A, Ref. Toll System RB

    5.00%     07/01/40         2,500         2,667,900   

Miami-Dade (County of) Health Facilities Authority (Miami Children’s Hospital); Series 2010 A, Ref. Hospital RB

    6.00%     08/01/30         1,195         1,403,946   

Miami-Dade (County of);

           

Series 2005 A, Sub. Special Obligation Conv. CAB RB (INS-NATL) (a)(h)

    5.00%     10/01/30         2,995         3,160,174   

Series 2012, Transit System Sales Surtax RB

    5.00%     07/01/33         2,500         2,778,250   

Series 2012, Transit System Sales Surtax RB

    5.00%     07/01/37         2,700         2,978,478   

Series 2012 B, Ref. Sub. Special Obligation RB

    5.00%     10/01/32         1,040         1,145,404   

Series 2012 B, Ref. Sub. Special Obligation RB

    5.00%     10/01/35         1,640         1,777,908   

Orange (County of); Series 2012 B, Ref. Sales Tax RB (b)

    5.00%     01/01/31         7,855         8,899,244   

Palm Beach (County of) Health Facilities Authority (Jupiter Medical Center, Inc.); Series 2013 A, Hospital RB

    5.00%     11/01/43         2,030         2,078,152   

Palm Beach (County of) Solid Waste Authority;

           

Series 2009, Improvement RB (INS-BHAC) (a)

    5.50%     10/01/23         2,700         3,304,530   

Series 2011, Ref. RB (b)

    5.00%     10/01/31         3,330         3,730,333   

South Miami (City of) Health Facilities Authority (Baptist Health South Florida Obligated Group);

           

Series 2007, Hospital RB

    5.00%     08/15/42         6,000         6,349,320   

Series 2007, Hospital RB (b)

    5.00%     08/15/42         12,000         12,698,640   

Series 2007, Hospital RB (b)

    5.00%     08/15/42         6,000         6,349,320   

St. Johns (County of) Industrial Development Authority (Glenmoor);

           

Series 2006 A, Health Care RB

    5.25%     01/01/26         1,000         756,800   

Series 2006 A, Health Care RB

    5.38%     01/01/40         4,250         2,934,497   

Tampa (City of) Sports Authority; Series 2005, Ref. Sales Tax RB (INS-AGM) (a)

    5.00%     01/01/26         1,545         1,635,413   

Tampa Bay Water; Series 2001 A, Ref. & Improvement Utility System RB
(INS-NATL) (a)

    6.00%     10/01/29         2,000         2,648,980   
                             97,650,619   

Georgia–2.69%

           

Atlanta (City of); Series 2004 J, Airport Passenger Facility Charge & Sub. Lien General RB (INS-AGM) (a)

    5.00%     01/01/34         4,000         4,203,040   

DeKalb (County of); Series 2003 A, Water & Sewerage RB

    5.00%     10/01/23         1,200         1,217,088   

Georgia (State of) Road & Tollway Authority;

           

Series 2003, RB (c)(e)

    5.00%     10/01/13         8,000         8,128,800   

Series 2003, RB

    5.00%     10/01/23         6,000         6,091,620   
                             19,640,548   

Hawaii–0.85%

           

Hawaii (State of) Department of Budget & Finance (Hawaii Pacific Health Obligated Group); Series 2010 B, Special Purpose RB

    5.75%     07/01/40         1,630         1,813,408   

Hawaii (State of); Series 2010 A, Airport System RB

    5.00%     07/01/39         4,100         4,433,330   
                             6,246,738   

Idaho–0.72%

           

Idaho (State of) Housing & Finance Association (Federal Highway Trust Fund); Series 2008 A, Grant & RAB (INS-AGC) (a)

    5.25%     07/15/23         2,600         3,007,888   

Idaho (State of) Housing & Finance Association; Series 2000 E, Single Family Mortgage RB (f)

    6.00%     01/01/32         540         540,929   

 

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

Invesco Quality Municipal Income Trust

          Interest    
Rate		   Maturity
Date		      Principal
Amount
(000)		     
Value		  

Idaho–(continued)

           

Regents of the University of Idaho; Series 2011, Ref. General RB (c)

    5.25%     04/01/21       $         1,465       $     1,706,915   
                             5,255,732   

Illinois–17.72%

           

Chicago (City of) (O’Hare International Airport);

           

Series 2003 B-2, Third Lien General Airport RB (INS-AGM) (a)(f)

    5.75%     01/01/23         6,000         6,173,700   

Series 2005 A, Third Lien General Airport RB (INS-NATL) (a)

    5.25%     01/01/26         3,000         3,262,830   

Chicago (City of) Board of Education;

           

Series 2011 A, Unlimited Tax GO Bonds (b)

    5.00%     12/01/41         5,730         6,035,982   

Series 2012 A, Unlimited Tax GO Bonds

    5.00%     12/01/42         2,720         2,861,794   

Series 2013 A3, Ref. Floating Rate Unlimited Tax GO Bonds (i)

    0.95%     03/01/36         1,000         1,000,000   

Chicago (City of) Park District; Series 2004 A, Limited Tax GO Bonds (INS-AMBAC) (a)

    5.00%     01/01/27         3,600         3,742,812   

Chicago (City of) Transit Authority (FTA Section 5309 Fixed Guideway Modernization Formula Funds);

           

Series 2008, Capital Grant Receipts RB (INS-AGC) (a)

    5.25%     06/01/23         1,070         1,202,680   

Series 2008, Capital Grant Receipts RB (INS-AGC) (a)

    5.25%     06/01/24         1,035         1,153,953   

Chicago (City of) Transit Authority;

           

Series 2011, Sales Tax Receipts RB (b)

    5.25%     12/01/36         5,000         5,597,550   

Series 2011, Sales Tax Receipts RB (b)

    5.25%     12/01/36         3,970         4,444,455   

Chicago (City of);

           

Series 2007 A, Ref. Project Unlimited Tax GO Bonds (INS-AGM) (a)(b)(j)

    5.00%     01/01/37         16,310         17,023,236   

Series 2012 A, Unlimited Tax GO Bonds

    5.00%     01/01/33         3,300         3,578,817   

Cook (County of) Forest Preserve District;

           

Series 2012 B, Ref. Limited Tax GO Bonds (b)

    5.00%     12/15/32         2,540         2,840,330   

Series 2012 B, Ref. Limited Tax GO Bonds (b)

    5.00%     12/15/37         2,540         2,819,502   

Cook (County of); Series 2012 C, Ref. Unlimited Tax GO Bonds

    5.00%     11/15/29         1,950         2,202,973   

DeKalb County Community Unit School District No. 428; Series 2008, Unlimited Tax GO Bonds (INS-AGM) (a)

    5.00%     01/01/23         1,435         1,645,328   

Illinois (State of) Finance Authority (Little Company of Mary Hospital & Health Care Centers); Series 2010, RB

    5.38%     08/15/40         2,875         3,092,091   

Illinois (State of) Finance Authority (Northwestern Memorial Hospital);

           

Series 2009 B, RB

    5.00%     08/15/16         830         938,697   

Series 2009 B, RB

    5.38%     08/15/24         1,900         2,232,519   

Illinois (State of) Finance Authority (OSF Healthcare System); Series 2010 A, Ref. RB

    6.00%     05/15/39         2,620         2,994,293   

Illinois (State of) Finance Authority (Resurrection Health Care Corp.); Series 2009, Ref. RB

    6.13%     05/15/25         3,505         4,021,567   

Illinois (State of) Finance Authority (Rush University Medical Center Obligated Group); Series 2009 A, RB

    7.25%     11/01/38         1,460         1,803,669   

Illinois (State of) Finance Authority (Swedish Covenant Hospital);

           

Series 2010 A, Ref. RB

    5.75%     08/15/29         5,020         5,624,308   

Series 2010 A, Ref. RB

    6.00%     08/15/38         2,620         2,931,073   

Illinois (State of) Finance Authority (The University of Chicago Medical Center); Series 2011 C, RB (b)

    5.50%     08/15/41         1,440         1,596,528   

Illinois (State of) Finance Authority (University of Chicago); Series 2013 A, RB (b)

    5.25%     10/01/52         3,390         3,800,360   

Illinois (State of) Metropolitan Pier & Exposition Authority (McCormick Place Expansion);

           

Series 2002 A, Conv. CAB RB (INS-NATL) (a)(h)

    5.75%     06/15/26         8,480         7,765,475   

Series 2010 A, RB

    5.50%     06/15/50         2,300         2,528,298   

Series 2012 B, RB (b)

    5.00%     12/15/28         5,565         6,338,758   

Illinois (State of) Toll Highway Authority; Series 2013 A, RB (b)

    5.00%     01/01/38         10,050         11,065,955   

Railsplitter Tobacco Settlement Authority; Series 2010, RB

    5.50%     06/01/23         4,275         5,114,695   

Schaumburg (Village of); Series 2004 B, Unlimited Tax GO Bonds (c)(e)

    5.25%     12/01/14         2,000         2,148,360   
                             129,582,588   

Indiana–3.07%

           

Indiana (State of) Finance Authority (Clarion Health Obligated Group); Series 2006 A, Hospital RB

    5.25%     02/15/40         3,595         3,876,309   

Indiana (State of) Finance Authority (CWA Authority); Series 2011 B, Second Lien Wastewater Utility RB

    5.25%     10/01/31         3,000         3,363,810   

 

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

Invesco Quality Municipal Income Trust

          Interest    
Rate		   Maturity
Date		      Principal
Amount
(000)		     
Value		  

Indiana–(continued)

           

Indiana (State of) Finance Authority (Ohio River Bridges East End Crossing);

           

Series 2013, Private Activity RB (f)

    5.00%     07/01/40       $         1,935       $     2,017,450   

Series 2013, Private Activity RB (f)

    5.00%     07/01/44         775         804,830   

Indianapolis Local Public Improvement Bond Bank;

           

Series 2011 K, RB

    5.00%     06/01/27         3,000         3,326,370   

Series 2013 F, RB (b)

    5.00%     02/01/30         4,500         5,114,565   

Lake Central Multi-District School Building Corp.; Series 2012 B, First Mortgage RB

    5.00%     07/15/32         1,735         1,974,100   

Rockport (City of) (Indiana Michigan Power Co.); Series 2009 B, Ref. PCR (c)

    6.25%     06/02/14         1,860         1,960,403   
                             22,437,837   

Iowa–2.19%

           

Coralville (City of); Series 2006 D, COP

    5.25%     06/01/26         2,200         2,263,844   

Iowa (State of) (IJOBS Program);

           

Series 2009 A, Special Obligation RB (b)(j)

    5.00%     06/01/25         4,795         5,646,544   

Series 2009 A, Special Obligation RB (b)(j)

    5.00%     06/01/26         3,595         4,160,529   

Iowa (State of) Finance Authority (Alcoa Inc.); Series 2012, Midwestern Disaster Area RB

    4.75%     08/01/42         1,800         1,712,646   

Iowa (State of) Finance Authority (Mercy Medical Center);

           

Series 2012, Health Facilities RB

    4.00%     08/15/32         1,260         1,261,386   

Series 2012, Health Facilities RB

    4.00%     08/15/33         1,000         999,260   
                             16,044,209   

Kansas–0.26%

           

Kansas (State of) Development Finance Authority (Adventist Health System/Sunbelt Obligated Group); Series 2009 C, Hospital RB

    5.50%     11/15/29         1,655         1,905,071   

Kentucky–1.14%

           

Kentucky (State of) Economic Development Finance Authority (Owensboro Medical Health System, Inc.);

           

Series 2010 A, Hospital RB

    6.38%     06/01/40         1,625         1,889,290   

Series 2010 A, Hospital RB

    6.50%     03/01/45         2,050         2,396,327   

Kentucky (State of) Turnpike Authority (Revitalization); Series 2012 A, Economic Development Road RB

    5.00%     07/01/31         1,600         1,845,184   

Warren (County of) (Bowling Green-Warren County Community Hospital Corp.); Series 2013, Ref. Hospital RB

    5.00%     04/01/35         2,000         2,168,800   
                             8,299,601   

Louisiana–0.70%

           

Lafayette (City of) Public Trust Financing Authority (Ragin’ Cajun Facilities, Inc. - Housing & Parking); Series 2010, RB (INS-AGM) (a)

    5.25%     10/01/30         2,450         2,732,632   

St. John the Baptist (Parish of) (Marathon Oil Corp.); Series 2007 A, RB

    5.13%     06/01/37         2,265         2,390,889   
                             5,123,521   

Maine–0.72%

           

Maine (State of) Health & Higher Educational Facilities Authority (Eastern Maine Medical Center Obligated Group); Series 2013, RB

    5.00%     07/01/43         2,750         2,923,415   

Maine (State of) Turnpike Authority; Series 2012 A, RB

    5.00%     07/01/37         2,100         2,354,520   
                             5,277,935   

Maryland–1.36%

           

Baltimore (County of) (Oak Crest Village Inc. Facility); Series 2007 A, RB

    5.00%     01/01/37         2,495         2,593,078   

Maryland (State of) Health & Higher Educational Facilities Authority (Frederick Memorial Hospital); Series 2012 A, RB

    4.00%     07/01/38         1,500         1,439,085   

Maryland (State of) Health & Higher Educational Facilities Authority (MedStar Health); Series 2004, Ref. RB

    5.38%     08/15/24         3,000         3,140,370   

Maryland Economic Development Corp. (Terminal); Series 2010 B, RB

    5.75%     06/01/35         2,440         2,762,861   
                             9,935,394   

Massachusetts–4.60%

           

Massachusetts (State of) Department of Transportation (Contract Assistance); Series 2010 B, Metropolitan Highway Systems RB

    5.00%     01/01/35         2,010         2,224,688   

 

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

Invesco Quality Municipal Income Trust

          Interest    
Rate		   Maturity
Date		      Principal
Amount
(000)		     
Value		  

Massachusetts–(continued)

           

Massachusetts (State of) Development Finance Agency (Berklee College of Music); Series 2007 A, RB

    5.00%     10/01/32       $         2,350       $     2,597,925   

Massachusetts (State of) Development Finance Agency (Harvard University); Series 2009 A, RB (b)

    5.50%     11/15/36         9,565         11,342,081   

Massachusetts (State of) Development Finance Agency (Massachusetts Institute of Technology); Series 2009 O, RB (b)

    5.50%     07/01/36         3,100         3,633,386   

Massachusetts (State of) Development Finance Agency (Partners Healthcare); Series 2012 L, RB

    5.00%     07/01/31         5,620         6,384,657   

Massachusetts (State of) Development Finance Agency (Tufts Medical Center); Series 2011 I, RB

    6.75%     01/01/36         1,225         1,466,019   

Massachusetts (State of) School Building Authority; Series 2011 B, Sr. Dedicated Sales Tax RB (b)

    5.00%     10/15/35         5,325         6,005,162   
                             33,653,918   

Michigan–0.81%

           

Lansing (City of) Board of Water & Light; Series 2011 A, Utility System RB

    5.00%     07/01/37         3,400         3,790,490   

Wayne State University Board of Governors; Series 2008, Ref. General RB (INS-AGM) (a)

    5.00%     11/15/25         1,855         2,119,393   
                             5,909,883   

Missouri–0.75%

           

Fenton (City of) (Gravois Bluffs Redevelopment); Series 2006, Ref. Tax Increment Allocation RB

    4.50%     04/01/21         170         172,281   

Kansas City (City of) Industrial Development Authority (Downtown Redevelopment District);

           

Series 2011 A, Ref. RB

    5.50%     09/01/27         995         1,141,205   

Series 2011 A, Ref. RB

    5.50%     09/01/28         1,970         2,235,753   

Missouri (State of) Health & Educational Facilities Authority (Lutheran Senior Services); Series 2005 A, Senior Living Facilities RB

    5.38%     02/01/35         1,875         1,920,788   
                             5,470,027   

Montana–0.55%

           

Forsyth (City of) (Portland General Electric Co.); Series 1998 A, Ref. PCR

    5.00%     05/01/33         3,600         4,037,004   

Nebraska–1.11%

           

Lincoln (County of) Hospital Authority No. 1 (Great Plains Regional Medical Center); Series 2012, Ref. RB

    5.00%     11/01/32         2,500         2,711,475   

Omaha (City of) Public Power District; Series 2011 B, RB (b)

    5.00%     02/01/36         4,800         5,402,208   
                             8,113,683   

Nevada–2.55%

           

Clark (County of) (Las Vegas-McCarran International Airport); Series 2010 A, Passenger Facility Charge RB

    5.13%     07/01/34         1,500         1,651,905   

Clark (County of);

           

Series 2003 C, Jet Aviation Fuel Tax Airport System RB (c)(e)(f)

    5.38%     07/01/13         1,000         1,004,030   

Series 2003 C, Jet Aviation Fuel Tax Airport System RB (c)(e)(f)

    5.38%     07/01/13         1,100         1,104,433   

Series 2003 C, Jet Aviation Fuel Tax Airport System RB (c)(e)(f)

    5.38%     07/01/13         2,000         2,008,060   

Series 2004 A-1, Sub. Lien Airport System RB (INS-NATL) (a)(f)

    5.50%     07/01/20         5,000         5,239,850   

Series 2004 A-1, Sub. Lien Airport System RB (INS-NATL) (a)(f)

    5.50%     07/01/22         2,000         2,090,400   

Series 2013 A, Ref. Jet Aviation Fuel Tax Airport System RB (f)

    5.00%     07/01/28         2,000         2,200,480   

Las Vegas (City of) Redevelopment Agency; Series 2009 A, Tax Increment Allocation RB

    6.25%     06/15/16         1,450         1,563,549   

Nevada (State of); Series 2008 C, Capital Improvement & Cultural Affairs Limited Tax GO Bonds (INS-AGM) (a)(b)

    5.00%     06/01/26         1,600         1,815,488   
                             18,678,195   

New Jersey–6.48%

           

New Jersey (State of) Economic Development Authority (Provident Group-Montclair Properties LLC-Montclair State University Student Housing); Series 2010 A, RB

    5.75%     06/01/31         1,990         2,233,695   

New Jersey (State of) Economic Development Authority; Subseries 2005 N-1, Ref. School Facilities Construction RB (INS-AMBAC) (a)

    5.50%     09/01/24         2,000         2,500,740   

 

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

Invesco Quality Municipal Income Trust

          Interest    
Rate		   Maturity
Date		      Principal
Amount
(000)		     
Value		  

New Jersey–(continued)

           

New Jersey (State of) Transportation Trust Fund Authority;

           

Series 1999 A, Transportation System RB

    5.75%     06/15/20       $         5,000       $     6,187,600   

Series 2006 C, Transportation System CAB RB (INS-AGC) (a)(d)

    0.00%     12/15/26         8,435         4,905,037   

Series 2012 A, Transportation System RB

    5.00%     06/15/42         3,100         3,341,707   

Series 2012 AA, Transportation Program RB

    5.00%     06/15/38         1,750         1,907,255   

New Jersey (State of) Turnpike Authority;

           

Series 2003 A, RB (c)(e)

    5.00%     07/01/13         1,500         1,505,910   

Series 2003 A, RB (c)(e)

    5.00%     07/01/13         1,750         1,756,895   

Series 2013 A, RB

    5.00%     01/01/38         2,175         2,362,529   

New Jersey (State of); Series 2001 H, Ref. Unlimited Tax GO Bonds

    5.25%     07/01/19         6,900         8,426,073   

Passaic Valley Sewage Commissioners; Series 2003 F, Sewer System RB (INS-NATL) (a)

    5.00%     12/01/20         10,000         10,193,200   

University of Medicine & Dentistry of New Jersey; Series 2004, COP (c)(e)

    5.25%     06/15/14         2,000         2,043,880   
                             47,364,521   

New Mexico–0.69%

           

Farmington (City of) (Public Service Co. of New Mexico San Juan); Series 2010 C, Ref. PCR

    5.90%     06/01/40         2,650         2,956,499   

New Mexico (State of) Finance Authority; Series 2008 A, Sr. Lien Public Revolving Fund RB

    5.00%     06/01/27         1,860         2,098,638   
                             5,055,137   

New York–12.98%

           

Brooklyn Arena Local Development Corp. (Barclays Center);

           

Series 2009, PILOT RB

    6.25%     07/15/40         1,740         2,025,029   

Series 2009, PILOT RB

    6.38%     07/15/43         720         841,378   

Long Island Power Authority; Series 2004 A, Electrical System General RB
(INS-AMBAC) (a)

    5.00%     09/01/34         1,500         1,561,275   

Metropolitan Transportation Authority; Series 2003 B, RB (INS-NATL) (a)

    5.25%     11/15/22         5,000         5,110,900   

New York (City of) Municipal Water Finance Authority; Series 2010 FF, Second General Resolution Water & Sewer System RB

    5.00%     06/15/31         2,400         2,700,408   

New York (City of) Transitional Finance Authority;

           

Subseries 2009 A-1, Future Tax Sec. RB (b)

    5.00%     05/01/28         4,615         5,385,797   

Subseries 2009 A-1, Future Tax Sec. RB (b)

    5.00%     05/01/29         3,695         4,342,807   

Subseries 2009 A-1, Future Tax Sec. RB (b)

    5.00%     05/01/30         3,695         4,242,747   

Subseries 2011 D-1, Future Tax Sec. RB (b)

    5.00%     11/01/33         1,725         1,957,237   

Subseries 2012 E-1, Future Tax Sec. RB (b)

    5.00%     02/01/42         8,690         9,632,778   

New York (City of) Trust for Cultural Resources (Museum of Modern Art);

           

Series 2008 1A, Ref. RB (b)

    5.00%     04/01/26         5,635         6,532,374   

Series 2008 1A, Ref. RB (b)

    5.00%     04/01/27         4,765         5,520,538   

New York (City of);

           

Subseries 2008 A-1, Unlimited Tax GO Bonds (b)

    5.25%     08/15/27         5,200         6,077,344   

Subseries 2008 A-1, Unlimited Tax GO Bonds (b)

    5.25%     08/15/28         5,200         6,066,112   

New York (State of) Dormitory Authority (City of New York); Series 2005 A, Court Facilities Lease RB (INS-AMBAC) (a)

    5.50%     05/15/29         1,805         2,293,198   

New York (State of) Dormitory Authority (General Purpose); Series 2011 A, State Personal Income Tax RB (b)

    5.00%     03/15/30         5,805         6,577,820   

New York (State of) Dormitory Authority; Series 2007 A, Mental Health Services Facilities Improvement RB (INS-AGM) (a)

    5.00%     02/15/27         1,500         1,675,005   

New York (State of) Energy Research & Development Authority (Brooklyn Union Gas Co.); Series 1991 B, Gas Facilities Residual Interest RB (f)(k)

    13.46%     07/01/26         1,700         1,716,218   

New York (State of) Thruway Authority (Transportation); Series 2009 A, Personal Income Tax RB

    5.00%     03/15/25         1,310         1,542,158   

New York (State of) Thruway Authority; Series 2011 A-1, Second General Highway & Bridge Trust Fund RB (b)

    5.00%     04/01/29         4,860         5,546,621   

New York Liberty Development Corp. (7 World Trade Center);

           

Series 2012, Class 1, Ref. Liberty RB (b)

    5.00%     09/15/40         5,100         5,688,540   

Series 2012, Class 2, Ref. Liberty RB

    5.00%     09/15/43         1,770         1,900,644   

Tobacco Settlement Financing Corp.; Series 2003 B-1C, Asset-Backed RB

    5.50%     06/01/21         6,000         6,000,000   
                             94,936,928   

 

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

Invesco Quality Municipal Income Trust

          Interest    
Rate		   Maturity
Date		      Principal
Amount
(000)		     
Value		  

North Carolina–3.95%

           

Charlotte (City of) (Cultural Arts Facilities); Series 2009 E, Ref. COP (b)

    5.00%     06/01/39       $       13,600       $     14,539,760   

North Carolina (State of) Eastern Municipal Power Agency; Series 2009 B, Power System RB

    5.00%     01/01/26         1,525         1,699,353   

North Carolina (State of) Medical Care Commission (Duke University Health System); Series 2012 A, Health Care Facilities RB (b)

    5.00%     06/01/42         5,110         5,670,312   

North Carolina (State of) Medical Care Commission (Salemtowne); Series 2006, Ref. First Mortgage Health Care Facilities RB

    5.10%     10/01/30         1,100         1,112,881   

North Carolina (State of) Turnpike Authority;

           

Series 2011, Monroe Connector System State Appropriation RB (b)

    5.00%     07/01/36         1,755         1,957,860   

Series 2011, Monroe Connector System State Appropriation RB (b)

    5.00%     07/01/41         2,430         2,674,750   

University of North Carolina at Chapel Hill; Series 2003, General RB (c)(e)

    5.00%     12/01/13         1,200         1,228,620   
                             28,883,536   

North Dakota–0.38%

           

Ward (County of) (Trinity Obligated Group); Series 2006, Health Care Facilities RB

    5.13%     07/01/29         2,750         2,812,755   

Ohio–5.45%

           

Allen (County of) (Catholic Health Partners); Series 2012 A, Ref. Hospital Facilities RB

    5.00%     05/01/42         3,445         3,726,629   

American Municipal Power, Inc. (Prairie State Energy Campus); Series 2008 A, RB
(INS-AGC) (a)(b)

    5.25%     02/15/33         9,100         10,203,557   

Cuyahoga (County of) (Cleveland Clinic Health System Obligated Group); Series 2003,
RB (c)(e)

    6.00%     07/01/13         5,080         5,104,485   

Franklin (County of) (First Community Village Obligated Group); Series 2013, Ref. Health Care Facilities RB

    5.25%     07/01/33         2,000         1,967,020   

Franklin (County of) (OhioHealth Corp.); Series 2011 A, Hospital Facilities RB (b)

    5.00%     11/15/36         3,390         3,729,373   

Hamilton (County of) (Christ Hospital); Series 2012, Health Care Facilities RB

    5.50%     06/01/42         3,000         3,333,720   

Hancock (County of) (Blanchard Valley Regional Health Center); Series 2011 A, Hospital Facilities RB

    6.25%     12/01/34         2,470         2,888,739   

Muskingum (County of) (Genesis Healthcare System); Series 2013, Hospital Facilities RB

    5.00%     02/15/44         2,500         2,461,225   

Ohio (State of) Higher Educational Facility Commission (Summa Health System); Series 2010, Hospital Facilities RB

    5.75%     11/15/40         4,835         5,386,142   

Ohio (State of) Water Development Authority (FirstEnergy Nuclear Generation Corp.); Series 2009 A, Ref. PCR (c)

    5.88%     06/01/16         930         1,035,574   
                             39,836,464   

Oklahoma–0.21%

           

Oklahoma (State of) Development Finance Authority (Great Plains Regional Medical Center); Series 2007, Hospital RB

    5.13%     12/01/36         1,500         1,502,085   

Oregon–0.49%

           

Oregon (State of) Department of Administrative Services; Series 2009 A, Lottery RB

    5.25%     04/01/24         685         800,916   

Warm Springs Reservation Confederated Tribes of Oregon (Pelton Round Butte); Series 2009 B, Tribal Economic Development Hydroelectric RB (g)

    6.38%     11/01/33         2,465         2,815,794   
                             3,616,710   

Pennsylvania–1.58%

           

Pennsylvania (State of) Turnpike Commission;

           

Series 2004 A, RB (INS-AMBAC) (a)

    5.00%     12/01/34         5,000         5,253,300   

Subseries 2010 B-2, Sub. Conv. CAB RB (h)

    5.75%     12/01/28         2,850         2,813,748   

Subseries 2010 B-2, Sub. Conv. CAB RB (h)

    6.00%     12/01/34         1,750         1,709,347   

Philadelphia School District; Series 2008 E, Limited Tax GO Bonds (INS-BHAC) (a)

    5.13%     09/01/23         1,500         1,745,505   
                             11,521,900   

Puerto Rico–2.65%

           

Puerto Rico (Commonwealth of) Aqueduct & Sewer Authority; Series 2012 A, Sr. Lien RB

    5.00%     07/01/33         2,370         2,258,729   

Puerto Rico (Commonwealth of) Electric Power Authority;

           

Series 2010 CCC, RB

    5.25%     07/01/27         1,300         1,318,356   

Series 2010 XX, RB

    5.25%     07/01/40         2,400         2,391,288   

Series 2012 A, RB

    5.00%     07/01/42         3,105         2,974,155   

 

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

Invesco Quality Municipal Income Trust

          Interest    
Rate		   Maturity
Date		      Principal
Amount
(000)		     
Value		  

Puerto Rico–(continued)

           

Puerto Rico Sales Tax Financing Corp.;

           

First Subseries 2010 A, RB

    5.38%     08/01/39       $     2,125       $     2,232,801   

First Subseries 2010 A, RB

    5.50%     08/01/42         2,900         3,066,083   

First Subseries 2010 C, RB

    5.25%     08/01/41         4,950         5,164,187   
                             19,405,599   

Rhode Island–0.21%

           

Rhode Island Economic Development Corp.; Series 2004 A, Ref. Airport RB
(INS-AGM) (a)(f)

    5.00%     07/01/21         1,500         1,568,895   

South Carolina–2.32%

           

Charleston Educational Excellence Finance Corp. (Charleston County School District); Series 2005, Installment Purchase RB (c)(e)

    5.25%     12/01/15         8,000         8,952,800   

South Carolina (State of) Public Service Authority;

           

Series 2003 A, Ref. RB (INS-AMBAC) (a)

    5.00%     01/01/22         5,290         5,310,049   

Series 2003 A, Ref. RB (INS-AMBAC) (a)

    5.00%     01/01/27         2,655         2,664,266   
                             16,927,115   

Texas–18.31%

           

Alamo Community College District; Series 2012, Ref. Limited Tax GO Bonds (b)

    5.00%     08/15/34         5,105         5,838,997   

Alliance Airport Authority, Inc. (Federal Express Corp.); Series 2006, Ref. Special Facilities RB (f)

    4.85%     04/01/21         6,000         6,389,160   

Arlington (City of); Series 2009, Special Tax RB

    5.00%     08/15/28         4,000         4,356,240   

Austin (City of);

           

Series 2012, Ref. Electric Utility System RB

    5.00%     11/15/37         1,470         1,649,325   

Series 2012, Ref. Electric Utility System RB

    5.00%     11/15/40         1,680         1,864,918   

Bexar (County of); Series 2009 A, Flood Control Limited Tax Ctfs. of Obligation

    5.00%     06/15/35         2,500         2,869,500   

Bexar County Health Facilities Development Corp. (Army Retirement Residence); Series 2010, RB

    6.20%     07/01/45         2,225         2,487,172   

Central Texas Regional Mobility Authority; Series 2013 A, Ref. Sr. Lien RB

    5.00%     01/01/43         1,500         1,604,820   

Dallas Area Rapid Transit; Series 2012, Ref. Sr. Lien Sales Tax RB

    5.00%     12/01/42         1,800         2,039,166   

Dallas-Fort Worth (Cities of) International Airport;

           

Series 2003 A, Joint RB (INS-AGM) (a)(f)

    5.38%     11/01/22         3,000         3,058,080   

Series 2012 G, Ref. RB

    5.00%     11/01/34         3,000         3,255,900   

Series 2013 B, Joint Improvement RB

    5.00%     11/01/38         1,825         1,960,306   

Friendswood Independent School District; Series 2008, Schoolhouse Unlimited Tax GO Bonds (CEP-Texas Permanent School Fund)

    5.00%     02/15/25         1,130         1,302,212   

Harris (County of); Series 2007 C, Ref. Sub. Lien Toll Road Unlimited Tax GO Bonds
(INS-AGM) (a)

    5.25%     08/15/31         5,395         6,745,422   

Harris County Industrial Development Corp. (Deer Park Refining Limited Partnership); Series 2006, Solid Waste Disposal RB

    5.00%     02/01/23         1,300         1,433,133   

Houston (City of) Convention & Entertainment Facilities Department; Series 2001 B, Hotel Occupancy Tax & Special CAB RB (INS-AGM) (a)(d)

    0.00%     09/01/25         4,650         2,843,661   

Houston (City of);

           

Series 2004 A, Ref. First Lien Combined Utility System RB (INS-NATL) (a)

    5.25%     05/15/23         8,300         8,676,737   

Series 2004 A, Ref. First Lien Combined Utility System RB (INS-NATL) (a)

    5.25%     05/15/25         9,500         9,923,605   

Series 2009 A, Ref. Public Improvement Limited Tax GO Bonds

    5.00%     03/01/27         2,000         2,311,480   

Series 2011 D, First Lien Combined Utility System RB (b)

    5.00%     11/15/33         2,700         3,060,720   

Series 2011 D, First Lien Combined Utility System RB (b)

    5.00%     11/15/36         4,005         4,477,109   

Houston Community College System; Series 2008, Sr. Lien Student Fee RB (INS-AGM) (a)

    5.00%     04/15/23         420         485,696   

Lower Colorado River Authority (LCRA Transmissions Services Corp.); Series 2011 A, Ref. RB

    5.00%     05/15/41         2,250         2,439,472   

Lower Colorado River Authority;

           

Series 2010 A, Ref. RB

    5.00%     05/15/40         1,700         1,834,946   

Series 2012 B, Ref. RB

    5.00%     05/15/32         2,075         2,313,335   

Series 2012 B, Ref. RB

    5.00%     05/15/37         2,900         3,174,688   

North Texas Tollway Authority;

           

Series 2008 D, Ref. First Tier System CAB RB (INS-AGC) (a)(d)

    0.00%     01/01/28         18,900         10,615,374   

Series 2008 D, Ref. First Tier System CAB RB (INS-AGC) (a)(d)

    0.00%     01/01/31         3,740         1,793,068   

Tarrant County Cultural Education Facilities Finance Corp. (Air Force Village Obligated Group); Series 2007, Retirement Facilities RB

    5.13%     05/15/37         925         940,189   

 

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

Invesco Quality Municipal Income Trust

          Interest    
Rate		   Maturity
Date		      Principal
Amount
(000)		     
Value		  

Texas–(continued)

           

Texas (State of) Transportation Commission; Series 2012 A, Ref. First Tier Turnpike System RB

      5.00%     08/15/41       $         6,000       $     6,403,140   

Texas A&M University System Board of Regents;

           

Series 2009 A, Financing System RB

      5.00%     05/15/25         890         1,051,188   

Series 2009 A, Financing System RB

      5.00%     05/15/26         2,500         2,952,775   

Texas Municipal Gas Acquisition & Supply Corp. III;

           

Series 2012, Gas Supply RB

      5.00%     12/15/22         2,000         2,262,300   

Series 2012, Gas Supply RB

      5.00%     12/15/30         1,195         1,270,978   

Series 2012, Gas Supply RB

      5.00%     12/15/31         1,195         1,268,086   

Series 2012, Gas Supply RB

      5.00%     12/15/32         1,200         1,270,488   

Texas Private Activity Bond Surface Transportation Corp. (NTE Mobility Partners LLC North Tarrant Express Management Lanes); Series 2009, Sr. Lien RB

      6.88%     12/31/39         1,945         2,321,610   

University of Houston; Series 2008, Ref. Consolidated RB (INS-AGM) (a)(b)

      5.00%     02/15/33         9,100         10,171,798   

West Harris County Regional Water Authority; Series 2005, Water System RB
(INS-AGM) (a)

      5.00%     12/15/24         3,000         3,178,530   
                             133,895,324   

Utah–0.98%

           

Salt Lake City (City of) (IHC Hospitals, Inc.); Series 1991, Ref. Hospital RB (e)(k)

    13.10%     05/15/20         2,200         2,223,716   

Utah (State of) Transit Authority; Series 2012, Ref. Sales Tax RB

      5.00%     06/15/42         4,500         4,936,860   
                             7,160,576   

Vermont–0.35%

           

Vermont (State of) Economic Development Authority (Wake Robin Corp.); Series 2006 A, Mortgage RB

      5.38%     05/01/36         2,500         2,538,750   

Virgin Islands–0.37%

           

Virgin Islands (Government of) Public Finance Authority (Matching Fund Loan Note); Series 2010 A, Sr. Lien RB

      5.00%     10/01/25         2,400         2,671,152   

Virginia–2.51%

           

Fairfax (County of) Economic Development Authority (Goodwin House Inc.); Series 2007, Residential Care Facilities Mortgage RB

      5.13%     10/01/37         1,750         1,827,875   

Fairfax (County of) Industrial Development Authority (INOVA Health System); Series 1993, Ref. RB

      5.25%     08/15/19         9,000         10,514,430   

Route 460 Funding Corp.; Series 2012 A, Sr. Lien Toll Road RB

      5.13%     07/01/49         1,150         1,208,535   

Virginia (State of) Small Business Financing Authority (Elizabeth River Crossings Opco, LLC); Series 2012, Sr. Lien RB (f)

      5.50%     01/01/42         1,815         1,946,243   

Virginia (State of) Small Business Financing Authority (Express Lanes, LLC); Series 2012, Sr. Lien RB (f)

      5.00%     01/01/40         2,800         2,890,608   
                             18,387,691   

Washington–4.75%

           

Chelan (County of) Public Utility District No. 1; Series 2011 A, Ref. Consolidated RB (f)

      5.50%     07/01/25         925         1,086,616   

Grant (County of) Public Utility District No. 2; Series 2005 A, Ref. Wanapum Hydro Electric RB (INS-NATL) (a)

      5.00%     01/01/34         1,705         1,784,436   

Lewis (County of) Public Utility District No. 1 (Cowlitz Falls Hydroelectric); Series 2003, Ref. RB (c)(e)

      5.00%     10/01/13         1,000         1,015,470   

Seattle (Port of); Series 2012 A, Ref. Intermediate Lien RB

      5.00%     08/01/31         2,700         3,079,890   

Spokane County School District No. 81; Series 2005, Unlimited Tax GO Bonds (c)(e)

      5.13%     06/01/15         2,500         2,735,425   

Washington (State of) Health Care Facilities Authority (Catholic Health Initiatives); Series 2011 A, RB (b)

      5.00%     02/01/41         3,000         3,238,380   

Washington (State of) Health Care Facilities Authority (Providence Health); Series 2006 C, RB (INS-AGM) (a)

      5.25%     10/01/33         1,500         1,625,430   

Washington (State of);

           

Series 2010 A, Various Purpose Unlimited Tax GO Bonds (b)

      5.00%     08/01/29         8,420         9,845,422   

Series 2010 A, Various Purpose Unlimited Tax GO Bonds (b)

      5.00%     08/01/30         8,850         10,340,960   
                             34,752,029   

 

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

Invesco Quality Municipal Income Trust

          Interest    
Rate		   Maturity
Date		      Principal
Amount
(000)		     
Value		  

Wisconsin–1.05%

           

Wisconsin (State of) Health & Educational Facilities Authority (Mercy Alliance); Series 2012, RB

    5.00%     06/01/39       $         5,000       $ 5,306,850   

Wisconsin (State of); Series 2009 A, General Fund Annual Appropriation RB

    5.63%     05/01/28         2,000         2,384,760   
                             7,691,610   

TOTAL INVESTMENTS(l)–156.62% (Cost $1,060,777,679)

                              1,145,099,486   

FLOATING RATE NOTE OBLIGATIONS–(28.37)%

           

Notes with interest rates ranging from 0.09% to 0.27% at 05/31/13 and contractual maturities of collateral ranging from 06/01/25 to 10/01/52 (See Note 1D)(m)

                            (207,435,000 ) 

OTHER ASSETS LESS LIABILITIES–1.01%

                            7,370,451   

VARIABLE RATE MUNI TERM PREFERRED SHARES–(29.26)%

                            (213,900,000 ) 

NET ASSETS APPLICABLE TO COMMON SHARES–100.00%

                          $ 731,134,937   

Investment Abbreviations:

 

AGC    —Assured Guaranty Corp.
AGM    —Assured Guaranty Municipal Corp.
AMBAC    —American Municipal Bond Assurance Corp.
BAN    —Bond Anticipation Notes
BHAC    —Berkshire Hathaway Assurance Corp.
CAB    —Capital Appreciation Bonds
CEP    —Credit Enhancement Provider
Conv.    —Convertible
COP    —Certificates of Participation
Ctfs.    —Certificates
FTA    —Federal Transit Administration
GO    —General Obligation
IDR    —Industrial Development Revenue Bonds
INS    —Insurer
NATL    —National Public Finance Guarantee Corp.
PCR    —Pollution Control Revenue Bonds
PILOT    —Payment-in-Lieu-of-Tax
RAB    —Revenue Anticipation Bonds
RB    —Revenue Bonds
Ref.    —Refunding
Sec.    —Secured
SGI    —Syncora Guarantee, Inc.
Sr.    —Senior
Sub.    —Subordinated

Notes to Schedule of Investments:

 

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

 

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

 

(b)  Underlying security related to Dealer Trusts entered into by the Trust. See Note 1D.
(c)  Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put.

 

(d)  Zero coupon bond issued at a discount.

 

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

 

(f)  Security subject to the alternative minimum tax.

 

(g)  Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at May 31, 2013 was $7,532,924, which represented 1.03% of the Trust’s Net Assets.

 

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

 

(i)  Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on May 31, 2013.

 

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

Invesco Quality Municipal Income Trust

(j)  Security is subject to a shortfall 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 Dealer Trusts. In case of a shortfall, the maximum potential amount of payments the Trust could ultimately be required to make under the agreement is $16,525,000. However, such shortfall payment would be reduced by the proceeds from the sale of the security underlying the Dealer Trusts.

 

(k)  Current coupon rate for an inverse floating rate municipal obligation. This rate resets periodically as the rate on the related security changes. Positions in an inverse floating rate municipal obligation have a total value of $3,939,934 which represents less than 1% of the Trust’s Net Assets.

 

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

  Assured Guaranty Municipal Corp.

   8.4%

  National Public Finance Guarantee Corp.

    6.8   
(m)  Floating rate note obligations related to securities held. The interest rates shown reflect the rates in effect at May 31, 2013. At May 31, 2013, the Trust’s investments with a value of $357,191,002 are held by Dealer Trusts and serve as collateral for the $207,435,000 in the floating rate note obligations outstanding at that date.

 

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

Invesco Quality Municipal Income Trust

Notes to Quarterly Schedule of Portfolio Holdings

May 31, 2013

(Unaudited)

NOTE 1 -- Significant Accounting Policies

 

A. Security Valuations – Securities, including restricted securities, are valued according to the following policy.

Securities are fair valued using an evaluated quote provided by an independent pricing service approved by the Board of Trustees. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate (for unlisted equities), yield (for debt obligations), quality, type of issue, coupon rate (for debt obligations), maturity (for debt obligations), individual trading characteristics and other market data. Debt obligations are subject to interest rate and credit risks. In addition, all debt obligations involve some risk of default with respect to interest and/or principal payments.

Securities for which market quotations either are not readily available or became unreliable are valued at fair value as determined in good faith by or under the supervision of the Trust’s officers following procedures approved by the Board of Trustees. Some of the factors which may be considered in determining fair value are fundamental analytical data relating to the investment; the nature and duration of any restrictions on transferability or disposition; trading in similar securities by the same issuer or comparable companies; relevant political, economic or issuer specific news; and other relevant factors under the circumstances.

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer’s assets, general economic conditions, interest rates, investor perceptions and market liquidity. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

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 is recorded on the accrual basis from settlement date. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date. Bond premiums and discounts are amortized and/or accreted for financial reporting purposes.

The Trust may periodically participate in litigation related to Trust investments. As such, the Trust may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.

Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Trust’s net asset value and, accordingly, they reduce the Trust’s total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and Statement of Changes in Net Assets, or the net investment income per share and ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Trust and the investment adviser.

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.

 

Invesco Quality Municipal Income Trust

 

D. Floating Rate Note Obligations – The Trust invests in inverse floating rate securities, such as Residual Interest Bonds (“RIBs”) or Tender Option Bonds (“TOBs”) for investment purposes and to enhance the yield of the Trust. Inverse floating rate investments 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. Such transactions may be purchased in the secondary market without first owning the underlying bond or by the sale of fixed rate bonds by the Trust to special purpose trusts established by a broker dealer (“Dealer Trusts”) in exchange for cash and residual interests in the Dealer Trusts’ assets and cash flows, which are in the form of inverse floating rate securities. The Dealer 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 Dealer Trusts have interest rates that reset weekly and the floating rate note holders have the option to tender their notes to the Dealer Trusts for redemption at par at each reset date. The residual interests held by the Trust (inverse floating rate investments) 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 Dealer Trusts to the Trust, thereby collapsing the Dealer Trusts.

TOBs are presently classified as private placement securities. Private placement securities are subject to restrictions on resale because they have not been registered under the Securities Act of 1933, as amended, or are otherwise not readily marketable. As a result of the absence of a public trading market for these securities, they may be less liquid than publicly traded securities. Although these securities may be resold in privately negotiated transactions, the prices realized from these sales could be less than those originally paid by the Trust or less than what may be considered the fair value of such securities.

The Trust accounts for the transfer of bonds to the Dealer Trusts as secured borrowings, with the securities transferred remaining in the Trust’s investment assets, and the related floating rate notes reflected as Trust liabilities under the caption Floating rate note obligations on the Statement of Assets and Liabilities. The Trust records the interest income from the fixed rate bonds under the caption Interest and records the expenses related to floating rate obligations and any administrative expenses of the Dealer Trusts a component of Interest, facilities and maintenance fees on the Statement of Operations.

The Trust generally invests in inverse floating rate securities that include embedded leverage, thus exposing the Trust to greater risks and increased costs. The primary risks associated with inverse floating rate securities are varying degrees of liquidity and the changes in the value of such securities in response to changes in market rates of interest to a greater extent than the value of an equal principal amount of a fixed rate security having similar credit quality, redemption provisions and maturity which may cause the Trust’s net asset value to be more volatile than if it had not invested in inverse floating rate securities. In certain instances, the short-term floating rate interests created by the special purpose trust may not be able to be sold to third parties or, in the case of holders tendering (or putting) such interests for repayment of principal, may not be able to be remarketed to third parties. In such cases, the special purpose trust holding the long-term fixed rate bonds may be collapsed. In the case of RIBs or TOBs created by the contribution of long-term fixed income bonds by the Trust, the Trust will then be required to repay the principal amount of the tendered securities. During times of market volatility, illiquidity or uncertainty, the Trust could be required to sell other portfolio holdings at a disadvantageous time to raise cash to meet that obligation.

E. 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.

Since many municipal securities are issued to finance similar projects, especially those relating to education, health care, transportation and utilities, conditions in those sectors can affect the overall municipal securities market and a Trust’s investments in municipal securities.

There is some risk that a portion or all of the interest received from certain tax-free municipal securities could become taxable as a result of determinations by the Internal Revenue Service.

 

Invesco Quality Municipal Income Trust

 

NOTE 2 -- Additional Valuation Information

Generally Accepted Accounting Principles (“GAAP”) defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available or are unreliable. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment’s assigned level:

Level 1  

– Prices are determined using quoted prices in an active market for identical assets.

Level 2  

– Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.

Level 3  

– Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Trust’s own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

As of May 31, 2013, all of the securities in this Trust were valued based on Level 2 inputs (see the Schedule of Investments for security categories). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

NOTE 3 -- Investment Securities

The aggregate amount of investment securities (other than short-term securities, U.S. Treasury obligations and money market funds, if any) purchased and sold by the Trust during the three months ended May 31, 2013 was $60,826,342 and $34,550,096, respectively. Cost of investments on a tax basis includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end.

 

Unrealized Appreciation (Depreciation) of Investment Securities on a Tax Basis

  

Aggregate unrealized appreciation of investment securities

    $ 86,622,849   

Aggregate unrealized (depreciation) of investment securities

      (4,770,719)   

Net unrealized appreciation of investment securities

    $                 81,852,130   

Cost of investments for tax purposes is $1,063,247,356.

   

 

Invesco Quality Municipal Income Trust

 

Item 2. Controls and Procedures.

 

  (a) As of May 23, 2013, 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 Registrant’s disclosure controls and procedures, as that term is defined in Rule 30a-3(c) under the Investment Company Act of 1940 (“Act”), as amended. Based on that evaluation, the Registrant’s officers, including the PEO and PFO, concluded that, as of May 23, 2013, the Registrant’s disclosure controls and procedures were reasonably designed so as to ensure: (1) that information required to be disclosed by the Registrant on Form N-Q 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 Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the Registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 3. Exhibits.

Certifications of PEO and PFO as required by Rule 30a-2(a) 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 Quality Municipal Income Trust

 

By:  

/s/ Philip A. Taylor

  Philip A. Taylor
  Principal Executive Officer
Date:   July 30, 2013

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/ Philip A. Taylor

  Philip A. Taylor
  Principal Executive Officer
Date:   July 30, 2013

 

By:  

/s/ Sheri Morris

  Sheri Morris
  Principal Financial Officer
Date:   July 30, 2013

EXHIBIT INDEX

Certifications of Principal Executive Officer (“PEO”) and Principal Financial Officer (“PFO”) as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended.