Form NPORT-P - Monthly Portfolio Investments Report on Form N-PORT (Public)

Schedule of Investments

November 30, 2023

(Unaudited)


	Interest Rate		Maturity Date		Principal Amount (000)		Value


Municipal Obligations–152.25%^(a)
Alabama–1.93%
Birmingham (City of), AL Special Care Facilities Financing Authority (Methodist Home for the Aging); Series 2016, RB		5.75%		06/01/2045	$	225	$	187,272


Black Belt Energy Gas District (The); Series 2023 B, RB^(b)		5.25%		12/01/2030		1,420		1,507,026


Huntsville (City of), AL Special Care Facilities Financing Authority (Redstone Village); Series 2007, RB^(c)		5.50%		01/01/2043		1,725		1,000,500


Jefferson (County of), AL; Series 2013 A, Revenue Wts. (INS - AGM)^(d)		5.50%		10/01/2053		1,155		1,172,952


Lower Alabama Gas District (The); Series 2016 A, RB		5.00%		09/01/2046		3,745		3,892,931


Southeast Energy Authority A Cooperative District (No. 2); Series 2021 B, RB^(b)		4.00%		12/01/2031		1,495		1,455,916


Southeast Energy Authority A Cooperative District (No. 3); Series 2022 A-1, RB^(b)		5.50%		12/01/2029		1,405		1,488,913


Tuscaloosa (County of), AL Industrial Development Authority (Hunt Refining); Series 2019 A, Ref. IDR^(e)		5.25%		05/01/2044		825		750,881


								11,456,391



Alaska–0.06%
Northern Tobacco Securitization Corp.; Series 2021 A-1, Ref. RB		4.00%		06/01/2050		420		372,219



Arizona–3.12%
Arizona (State of) Industrial Development Authority; Series 2019-2A, Revenue Ctfs.		3.63%		05/20/2033		1,032		951,959


Arizona (State of) Industrial Development Authority (Leman Academy of Excellence); Series 2019 A, RB^(e)		5.00%		07/01/2039		1,195		1,112,850


Arizona (State of) Industrial Development Authority (Leman Academy-Parker Colorado); Series 2019, RB^(e)		5.00%		07/01/2049		500		441,544


Arizona (State of) Industrial Development Authority (Master Academy of Nevada - Bonanza Campus); Series 2020 A, RB^(e)		5.00%		12/15/2050		820		748,683


Glendale (City of), AZ Industrial Development Authority (The Beatitudes Campus);
Series 2017, Ref. RB		5.00%		11/15/2030		1,150		1,087,902


Series 2017, Ref. RB		5.00%		11/15/2045		890		701,875


Maricopa (County of), AZ Industrial Development Authority (Legacy Traditional Schools); Series 2019, Ref. RB^(e)		5.00%		07/01/2049		225		205,048


Mesa (City of), AZ; Series 2022 A, RB (INS - BAM)^(d)		5.00%		07/01/2046		3,010		3,243,948


Phoenix (City of), AZ Industrial Development Authority (Legacy Traditional Schools); Series 2014 A, RB^(e)		6.50%		07/01/2034		500		505,506


Pima (County of), AZ Industrial Development Authority (American Leadership Academy); Series 2019, Ref. RB^(e)		5.00%		06/15/2052		360		318,687


Pima (County of), AZ Industrial Development Authority (Grande Innovations Academy); Series 2018, RB^(e)		5.25%		07/01/2048		1,190		1,063,380


Pima (County of), AZ Industrial Development Authority (Tucson Medical Center); Series 2021, Ref. RB		3.00%		04/01/2051		1,050		737,373


Salt River Project Agricultural Improvement & Power District; Series 2023 B, RB		5.00%		01/01/2048		3,300		3,617,462


Salt Verde Financial Corp.;
Series 2007, RB		5.00%		12/01/2032		770		816,587


Series 2007, RB		5.00%		12/01/2037		1,805		1,916,474


Yuma (City of), AZ Industrial Development Authority (Regional Medical Center); Series 2014 A, RB		5.25%		08/01/2032		1,060		1,069,974


								18,539,252



Arkansas–0.10%
Arkansas (State of) Development Finance Authority (Baptist Memorial Health); Series 2020, Ref. RB		5.00%		09/01/2044		610		614,960



California–14.22%
Beverly Hills Unified School District (Election of 2008); Series 2009, GO Bonds^(f)		0.00%		08/01/2028		800		698,369


California (State of);
Series 2020, GO Bonds (INS - BAM)^(d)		3.00%		11/01/2050		1,680		1,343,727


Series 2022, Ref. GO Bonds		4.00%		04/01/2042		3,215		3,269,163


Series 2023, GO Bonds		5.25%		09/01/2053		3,300		3,704,003


California (State of) Community Housing Agency (Annadel Apartments); Series 2019 A, RB^(e)		5.00%		04/01/2049		835		655,371


California (State of) County Tobacco Securitization Agency; Series 2020 A, Ref. RB		4.00%		06/01/2037		275		273,048


California (State of) County Tobacco Securitization Agency (Alameda County Tobacco Asset Securitization Corp.); Series 2006 C, RB^(f)		0.00%		06/01/2055		11,000		1,003,397

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


		Invesco Municipal Trust


	Interest Rate		Maturity Date		Principal Amount (000)		Value


California–(continued)
California (State of) County Tobacco Securitization Agency (Los Angeles County Securitization Corp.);
Series 2020 B-1, Ref. RB		5.00%		06/01/2049	$	55	$	55,791


Series 2020 B-2, Ref. RB^(f)		0.00%		06/01/2055		1,670		275,059


California (State of) Health Facilities Financing Authority (Cedars-Sinai Health System); Series 2021, Ref. RB		5.00%		08/15/2051		4,285		4,608,124


California (State of) Health Facilities Financing Authority (PIH Health); Series 2020 A, RB		4.00%		06/01/2050		4,185		3,803,579


California (State of) Housing Finance Agency (Social Certificates);
Series 2021-2A, Revenue Ctfs. (CEP - FHLMC)		3.75%		03/25/2035		4,086		3,865,921


Series 2023-1, RB		4.38%		09/20/2036		837		810,123


California (State of) Infrastructure & Economic Development Bank (California State Teachers’ Retirement System Headquarters Expansion) (Green Bonds); Series 2019, RB		5.00%		08/01/2049		1,940		2,036,714


California (State of) Municipal Finance Authority (Bella Mente Montessori Academy); Series 2018 A, RB^(e)		5.00%		06/01/2048		190		167,323


California (State of) Municipal Finance Authority (CHF-Davis I, LLC - West Village Student Housing); Series 2018, RB		5.00%		05/15/2037		1,340		1,381,370


California (State of) Municipal Finance Authority (Linxs APM);
Series 2018 A, RB^(g)		5.00%		12/31/2036		1,675		1,725,957


Series 2018 A, RB^(g)		5.00%		12/31/2047		2,010		2,024,421


California (State of) Municipal Finance Authority (United Airlines, Inc.); Series 2019, RB^(g)		4.00%		07/15/2029		835		808,534


California (State of) Municipal Finance Authority (William Jessup University); Series 2019, Ref. RB^(e)		5.00%		08/01/2039		250		228,622


California (State of) Pollution Control Financing Authority;
Series 2012, RB^(e)(g)		5.00%		07/01/2027		945		945,798


Series 2012, RB^(e)(g)		5.00%		07/01/2030		220		220,161


Series 2012, RB^(e)(g)		5.00%		07/01/2037		2,280		2,280,463


Series 2012, RB^(e)(g)		5.00%		11/21/2045		2,675		2,657,316


California (State of) Statewide Communities Development Authority (Loma Linda University Medical Center); Series 2016 A, RB^(e)		5.25%		12/01/2056		1,005		975,867


California State University;
Series 2019 A, RB		5.00%		11/01/2044		2,480		2,667,095


Series 2019 A, RB^(h)		5.00%		11/01/2049		2,120		2,259,018


CSCDA Community Improvement Authority (Jefferson-Anaheim Social Bonds); Series 2021 A, RB^(e)		3.13%		08/01/2056		840		563,524


CSCDA Community Improvement Authority (Oceanaire-Long Beach Social Bonds); Series 2021 A-2, RB^(e)		4.00%		09/01/2056		840		584,407


CSCDA Community Improvement Authority (Parallel-Anaheim Social Bonds); Series 2021, RB^(e)		4.00%		08/01/2056		500		364,192


Daly (City of), CA Housing Development Finance Agency (Franciscan Mobile Home Park Acquisition); Series 2007 C, Ref. RB		6.50%		12/15/2047		375		362,191


Golden State Tobacco Securitization Corp.; Series 2021 B-2, Ref. RB^(f)		0.00%		06/01/2066		2,785		290,615


Los Angeles (City of), CA Department of Airports (Green Bonds);
Series 2022 G, RB^(g)		5.50%		05/15/2035		1,750		2,010,824


Series 2022 G, RB^(g)		5.50%		05/15/2037		750		846,904


Los Angeles (City of), CA Department of Water & Power; Series 2020 B, RB^(h)		5.00%		07/01/2050		2,340		2,505,045


Montebello Unified School District; Series 2022 B, GO Bonds (INS - AGM)^(d)		5.00%		08/01/2050		1,235		1,302,573


M-S-R Energy Authority; Series 2009 B, RB		6.50%		11/01/2039		585		719,428


Mt. San Antonio Community College District (Election of 2008); Series 2013 A, GO Bonds⁽ⁱ⁾		6.25%		08/01/2043		2,010		1,913,741


Oxnard School District (Election of 2022); Series 2023 A, GO Bonds (INS - BAM)^(d)		4.25%		08/01/2053		3,075		3,088,384


Regents of the University of California Medical Center; Series 2022 P, RB^(h)(j)		4.00%		05/15/2053		5,435		5,233,065


Sacramento (City of), CA Unified School District (Election of 2020);
Series 2022 A, GO Bonds (INS - BAM)^(d)		5.50%		08/01/2047		1,305		1,434,372


Series 2022 A, GO Bonds (INS - BAM)^(d)		5.50%		08/01/2052		1,590		1,737,735


San Diego (County of), CA Regional Airport Authority;
Series 2021 A, RB		4.00%		07/01/2051		2,065		1,974,656


Series 2021 A, RB		5.00%		07/01/2056		2,010		2,137,712


Series 2023 B, RB^(g)		5.00%		07/01/2048		2,475		2,576,340


San Francisco (City & County of), CA Airport Commission; Series 2019 E, RB^(g)		5.00%		05/01/2038		680		708,591


San Francisco (City & County of), CA Airport Commission (San Francisco International Airport);
Series 2019 E, RB^(g)		5.00%		05/01/2050		2,360		2,401,487


Series 2021 A, Ref. RB^(g)		5.00%		05/01/2036		610		656,912


San Joaquin Hills Transportation Corridor Agency; Series 2014 B, Ref. RB		5.25%		01/15/2049		3,690		3,717,016


Silicon Valley Tobacco Securitization Authority (Santa Clara); Series 2007 A, RB^(f)		0.00%		06/01/2041		3,485		1,253,942

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


		Invesco Municipal Trust


	Interest Rate		Maturity Date		Principal Amount (000)		Value


California–(continued)
Western Placer Unified School District; Series 2017, Ref. COP (INS - AGM)^(d)		4.00%		08/01/2049	$	1,360	$	1,339,432


								84,467,422



Colorado–5.80%
Aurora Highlands Community Authority Board; Series 2021 A, Ref. RB		5.75%		12/01/2051		840		751,831


Belford North Metropolitan District; Series 2020 A, GO Bonds		5.50%		12/01/2050		1,040		920,986


Bromley Park Metropolitan District No 2; Series 2023, Ref. GO Bonds (INS - BAM)^(d)		5.38%		12/01/2053		610		654,183


Centerra Metropolitan District No. 1 (In the City of Loveland);
Series 2017, RB^(e)		5.00%		12/01/2047		1,680		1,509,050


Series 2020 A, Ref. GO Bonds		5.00%		12/01/2051		670		582,929


Series 2022, RB		6.50%		12/01/2053		585		587,598


Colorado (State of) Health Facilities Authority (Adventhealth Obligated Group); Series 2021 A, Ref. RB		4.00%		11/15/2050		745		685,260


Colorado (State of) Health Facilities Authority (Adventist Health System/Sunbelt Obligated Group); Series 2018 A, RB		5.00%		11/15/2048		1,670		1,713,574


Colorado (State of) Health Facilities Authority (CommonSpirit Health);
Series 2019 A-2, Ref. RB		5.00%		08/01/2044		3,680		3,757,463


Series 2019 A-2, Ref. RB		4.00%		08/01/2049		1,675		1,472,674


Colorado (State of) Health Facilities Authority (Volunteers of America Care);
Series 2007 A, RB		5.25%		07/01/2027		245		227,758


Series 2007 A, RB		5.30%		07/01/2037		170		131,924


Colorado (State of) High Performance Transportation Enterprise (C-470 Express Lanes); Series 2017, RB		5.00%		12/31/2047		920		920,535


Colorado (State of) Science and Technology Park Metropolitan District No. 1; Series 2018, Ref. RB		5.00%		12/01/2033		500		492,063


Colorado Crossing Metropolitan District No. 2; Series 2020 A-1, Ref. GO Bonds		5.00%		12/01/2047		500		411,051


Denver (City & County of), CO;
Series 2018 A, Ref. RB^(g)		5.00%		12/01/2048		5,260		5,343,674


Series 2018 A, Ref. RB^(g)		5.25%		12/01/2048		1,735		1,786,402


Series 2018 A-2, RB^(f)		0.00%		08/01/2034		1,325		842,507


Series 2022 A, RB^(g)		5.00%		11/15/2036		945		1,030,962


Series 2022 A, RB^(g)		5.00%		11/15/2047		2,500		2,607,571


Great Western Metropolitan District; Series 2020, Ref. GO Bonds		4.75%		12/01/2050		460		393,404


Jefferson (County of), CO Center Metropolitan District No. 1; Series 2020 B, Ref. RB		5.75%		12/15/2050		735		702,788


Johnstown Plaza Metropolitan District; Series 2022, Ref. GO Bonds		4.25%		12/01/2046		787		627,755


Mulberry Metropolitan District No. 2; Series 2022, RB		7.00%		12/01/2034		755		765,652


Neu Town Metropolitan District; Series 2018 A, Ref. GO Bonds		5.38%		12/01/2046		705		664,764


North Range Metropolitan District No. 3; Series 2020 A, GO Bonds		5.00%		12/01/2040		500		464,609


Rampart Range Metropolitan District No. 5; Series 2021, RB		4.00%		12/01/2051		500		353,671


Sky Ranch Community Authority Board; Series 2022 A, RB		5.75%		12/01/2052		500		466,083


Village Metropolitan District (The); Series 2020, Ref. GO Bonds		5.00%		12/01/2040		550		524,908


White Buffalo Metropolitan District No. 3;
Series 2020, GO Bonds		5.50%		12/01/2050		500		458,625


Series 2023, GO Bonds		8.00%		12/15/2035		608		584,023


Windler Public Improvement Authority;
Series 2021 A-1, RB		4.13%		12/01/2051		1,335		807,563


Series 2021 A-2, RB⁽ⁱ⁾		4.50%		12/01/2041		2,065		1,208,623


								34,452,463



District of Columbia–3.71%
District of Columbia;
Series 2014 C, GO Bonds^(h)(k)		5.00%		06/01/2035		6,890		6,949,920


Series 2022 A, RB		5.00%		07/01/2047		1,670		1,812,788


Series 2023 A, RB		5.25%		05/01/2048		2,435		2,699,843


District of Columbia (Provident Group - Howard Properties LLC); Series 2013, RB		5.00%		10/01/2045		660		609,636


District of Columbia Water & Sewer Authority (Green Bonds); Series 2022 C-1, RB		4.00%		10/01/2051		3,370		3,298,231


Metropolitan Washington Airports Authority; Series 2017, Ref. RB^(g)		5.00%		10/01/2042		2,675		2,732,493


Metropolitan Washington Airports Authority (Dulles Metrorail and Capital Improvement); Series 2019 B, Ref. RB		4.00%		10/01/2049		1,675		1,504,406


Washington (State of) Metropolitan Area Transit Authority (Sustainability Bonds); Series 2023 A, RB		5.25%		07/15/2053		2,185		2,403,268


								22,010,585

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


		Invesco Municipal Trust


	Interest Rate		Maturity Date		Principal Amount (000)		Value


Florida–9.76%
Alachua (County of), FL Health Facilities Authority (Terraces at Bonita Springs);
Series 2022 A, Ref. RB^(e)		5.00%		11/15/2061	$	1,075	$	701,190


Series 2022 B, RB^(e)		6.50%		11/15/2033		100		84,604


Brevard (County of), FL Health Facilities Authority (Health First Obligated Group); Series 2022 A, Ref. RB		4.00%		04/01/2052		505		451,666


Broward (County of), FL;
Series 2019 A, RB^(g)		5.00%		10/01/2049		1,325		1,347,425


Series 2019 B, RB^(g)		4.00%		09/01/2044		835		800,170


Series 2022 A, RB^(h)(j)		4.00%		10/01/2047		3,350		3,341,600


Series 2022, RB		5.00%		01/01/2047		1,675		1,801,907


Broward (County of), FL (Convention Center Expansion); Series 2021, RB		4.00%		09/01/2047		3,340		3,180,671


Cape Coral (City of) FL; Series 2023, Ref. RB (INS - BAM)^(d)		5.60%		03/01/2048		1,215		1,322,794


Collier (County of), FL Industrial Development Authority (The Arlington of Naples); Series 2014 A, RB^(c)(e)		7.75%		05/15/2035		970		31,021


Davie (Town of), FL (Nova Southeastern University); Series 2018, Ref. RB		5.00%		04/01/2048		1,360		1,369,290


Florida (State of) North Broward Hospital District; Series 2017 B, Ref. RB		5.00%		01/01/2042		1,205		1,224,839


Florida Development Finance Corp. (Green Bonds); Series 2019 B, RB^(e)(g)		7.38%		01/01/2049		670		672,926


Fort Lauderdale (City of), FL;
Series 2023 A, RB		5.50%		09/01/2053		2,520		2,833,531


Series 2023, RB		5.50%		09/01/2053		1,460		1,641,649


Greater Orlando Aviation Authority;
Series 2017 A, RB^(g)		5.00%		10/01/2052		685		691,936


Series 2019 A, RB^(g)		4.00%		10/01/2044		2,500		2,346,284


Hillsborough (County of), FL; Series 2023, GO Bonds		5.00%		07/01/2053		1,585		1,710,235


Hillsborough (County of), FL Aviation Authority (Tampa International Airport); Series 2018 E, RB^(g)		5.00%		10/01/2048		2,475		2,518,399


Jacksonville (City of) FL; Series 2023 A, Ref. RB		5.50%		10/01/2053		2,430		2,682,372


Lake (County of), FL (Lakeside at Waterman Village);
Series 2020 A, Ref. RB		5.50%		08/15/2040		650		579,438


Series 2020 A, Ref. RB		5.75%		08/15/2050		285		245,540


Series 2020 A, Ref. RB		5.75%		08/15/2055		1,055		894,786


Lee (County of), FL;
Series 2021 B, RB^(g)		5.00%		10/01/2034		1,030		1,120,116


Series 2022, RB		5.25%		08/01/2049		1,675		1,772,100


Miami (City of) & Dade (County of), FL School Board; Series 2022 A, GO Bonds (INS - BAM)^(d)		5.00%		03/15/2052		1,985		2,104,155


Miami Beach (City of), FL; Series 2017, Ref. RB		5.00%		09/01/2047		1,150		1,150,159


Miami Beach (City of), FL Health Facilities Authority (Mt. Sinai Medical Center); Series 2014, Ref. RB		5.00%		11/15/2039		935		939,038


Miami-Dade (County of), FL;
Series 2021, RB		4.00%		10/01/2048		3,325		3,200,668


Series 2022 A, Ref. RB^(g)		5.25%		10/01/2052		505		526,198


Series 2023 A, Ref. RB^(g)		5.00%		10/01/2047		840		860,653


Subseries 2021 A-2, Ref. RB (INS - AGM)^(d)		4.00%		10/01/2049		2,520		2,356,099


Miami-Dade (County of), FL Expressway Authority; Series 2010 A, RB		5.00%		07/01/2040		2,605		2,605,677


Miami-Dade (County of), FL Transit System; Series 2022, RB		5.00%		07/01/2052		2,345		2,475,421


Osceola (County of), FL;
Series 2020 A-2, Ref. RB^(f)		0.00%		10/01/2050		2,000		440,559


Series 2020 A-2, Ref. RB^(f)		0.00%		10/01/2052		450		88,058


Series 2020 A-2, Ref. RB^(f)		0.00%		10/01/2053		445		82,050


Series 2020 A-2, Ref. RB^(f)		0.00%		10/01/2054		385		66,874


Reunion East Community Development District; Series 2005, RB^(c)(l)		5.80%		05/01/2036		235		2


Sarasota (County of), FL Public Hospital District (Sarasota Memorial Hospital); Series 2022, RB		4.00%		07/01/2052		1,670		1,541,527


South Miami Health Facilities Authority, Inc. (Baptist Health South Florida Obligated Group); Series 2017, Ref. RB		4.00%		08/15/2047		840		764,136


Sterling Hill Community Development District; Series 2003 A, RB^(l)(m)		6.20%		05/01/2035		735		345,629


Sumter (County of), FL Industrial Development Authority (Central Florida Health Alliance); Series 2014 A, RB		5.25%		07/01/2044		1,000		1,000,458


Tallahassee (City of), FL (Tallahassee Memorial Health Care, Inc.); Series 2016, RB		5.00%		12/01/2055		1,350		1,304,392


Tampa (City of), FL; Series 2020 A, RB^(f)		0.00%		09/01/2049		3,340		781,391


								57,999,633

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


		Invesco Municipal Trust


	Interest Rate		Maturity Date		Principal Amount (000)		Value


Georgia–2.52%
Augusta (City of), GA Development Authority; Series 2018, RB		4.00%		07/01/2039	$	2,860	$	2,736,213


Brookhaven Development Authority (Children’s Healthcare of Atlanta, Inc.); Series 2019 A, RB^(h)(j)		4.00%		07/01/2044		3,345		3,244,851


Burke (County of), GA Development Authority (Georgia Power Company); Series 2018, Ref. VRD RB⁽ⁿ⁾		2.40%		11/01/2052		955		955,000


Columbia (City of), GA (Wellstar Health System, Inc.); Series 2023, RAC		5.13%		04/01/2048		1,095		1,164,477


Georgia (State of) Municipal Electric Authority of Georgia (Plant Vogtle Units 3 & 4); Series 2021 A, Ref. RB		4.00%		01/01/2046		660		598,912


Glynn (County of) & Brunswick (City of), GA Memorial Hospital Authority (Southeast Georgia Health System); Series 2017, RAC		5.00%		08/01/2047		3,950		3,873,273


Main Street Natural Gas, Inc.;
Series 2021 C, RB^(b)		4.00%		12/01/2028		1,240		1,217,127


Series 2022 C, RB^(b)(e)		4.00%		11/01/2027		1,260		1,196,166


								14,986,019



Idaho–0.34%
Idaho (State of) Health Facilities Authority (Valley Vista Care Corp.);
Series 2017 A, Ref. RB		5.00%		11/15/2032		355		307,720


Series 2017 A, Ref. RB		5.25%		11/15/2037		500		410,080


Spring Valley Community Infrastructure District No. 1; Series 2021, RB^(e)		3.75%		09/01/2051		1,675		1,284,589


								2,002,389



Illinois–9.90%
Bolingbrook (Village of), IL; Series 2005, RB		6.25%		01/01/2024		461		459,136


Chicago (City of), IL;
Series 2002 B, GO Bonds		5.50%		01/01/2037		1,050		1,054,947


Series 2005 D, Ref. GO Bonds		5.50%		01/01/2040		1,190		1,195,422


Series 2007 E, Ref. GO Bonds		5.50%		01/01/2042		340		341,268


Series 2014, RB		5.00%		11/01/2039		860		864,356


Series 2015 A, GO Bonds		5.50%		01/01/2033		3,395		3,415,936


Series 2017 A, Ref. GO Bonds		6.00%		01/01/2038		2,025		2,108,455


Chicago (City of), IL (Diversey/Narragansett); Series 2006, COP^(l)		7.46%		02/15/2026		424		309,863


Chicago (City of), IL (O’Hare International Airport);
Series 2012 B, Ref. RB^(g)		5.00%		01/01/2030		4,500		4,501,072


Series 2017 D, RB		5.00%		01/01/2052		1,465		1,483,427


Chicago (City of), IL Board of Education;
Series 2017 H, GO Bonds		5.00%		12/01/2036		1,705		1,710,594


Series 2018 A, Ref. GO Bonds		5.00%		12/01/2035		750		759,055


Series 2018 A, Ref. GO Bonds (INS - AGM)^(d)		5.00%		12/01/2035		650		670,387


Chicago (City of), IL Midway International Airport;
Series 2013 A, Ref. RB^(b)(g)(k)		5.50%		02/06/2024		2,650		2,656,329


Series 2014 A, Ref. RB^(g)		5.00%		01/01/2041		1,250		1,250,043


Chicago (City of), IL Park District;
Series 2020 D, GO Bonds (INS - BAM)^(d)		4.00%		01/01/2035		1,000		1,013,664


Series 2020 D, GO Bonds (INS - BAM)^(d)		4.00%		01/01/2038		1,330		1,315,300


Gilberts (Village of), IL Special Service Area No. 24 (The Conservancy); Subseries 2014 A, RB		5.38%		03/01/2034		525		492,229


Illinois (State of);
Series 2014, GO Bonds		5.25%		02/01/2033		1,250		1,250,358


Series 2014, GO Bonds		5.00%		05/01/2035		450		450,683


Series 2014, GO Bonds		5.00%		05/01/2036		1,210		1,211,423


Series 2016, GO Bonds		5.00%		11/01/2036		1,120		1,138,705


Series 2017 C, GO Bonds		5.00%		11/01/2029		265		278,545


Series 2017 D, GO Bonds		5.00%		11/01/2026		1,115		1,162,977


Series 2018 A, GO Bonds		5.00%		05/01/2030		1,225		1,296,777


Series 2020, GO Bonds		5.50%		05/01/2039		1,385		1,514,097


Illinois (State of) Development Finance Authority (CITGO Petroleum Corp.); Series 2002, RB^(g)		8.00%		06/01/2032		360		360,246


Illinois (State of) Finance Authority (Centegra Health System); Series 2014 A, RB^(b)(k)		5.00%		09/01/2024		1,430		1,447,819


Illinois (State of) Finance Authority (Lutheran Communities Obligated Group);
Series 2019 A, Ref. RB		5.00%		11/01/2040		60		51,174


Series 2019 A, Ref. RB		5.00%		11/01/2049		1,220		962,756


Illinois (State of) Finance Authority (Mercy Health Corp.); Series 2016, Ref. RB		5.00%		12/01/2046		4,075		4,112,508


Illinois (State of) Finance Authority (Park Place of Elmhurst); Series 2016, RB		5.13%		05/15/2060		888		483,343

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


		Invesco Municipal Trust


	Interest Rate	Maturity Date	Principal Amount (000)		Value


Illinois–(continued)
Illinois (State of) Finance Authority (Roosevelt University); Series 2007, RB	5.50%	04/01/2037	$	1,000	$	897,661


Illinois (State of) Finance Authority (Three Crowns Park);
Series 2017, Ref. RB	5.00%	02/15/2032		155		154,885


Series 2017, Ref. RB	5.25%	02/15/2037		195		194,617


Illinois (State of) Metropolitan Pier & Exposition Authority (McCormick Place Expansion); Series 2015 A, RB	5.50%	06/15/2053		2,200		2,233,743


Illinois (State of) Sports Facilities Authority; Series 2014, Ref. RB (INS - AGM)^(d)	5.25%	06/15/2031		1,205		1,213,953


Illinois (State of) Toll Highway Authority;
Series 2013 A, RB^(h)	5.00%	01/01/2038		3,875		3,875,213


Series 2013 A, RB	5.00%	01/01/2038		2,990		2,990,164


Series 2014 B, RB	5.00%	01/01/2037		5,950		5,953,617


						58,836,747



Indiana–1.11%
Fishers Town Hall Building Corp.; Series 2023 A, RB (INS - BAM)^(d)	5.63%	07/15/2053		2,435		2,664,138


Indiana (State of) Finance Authority (Ohio Valley Electrical Corp.); Series 2012 A, RB	4.25%	11/01/2030		1,540		1,548,579


Indiana (State of) Finance Authority (US Steel Corp.); Series 2012, RB^(g)	5.75%	08/01/2042		240		240,011


Valparaiso (City of), IN (Pratt Paper, LLC); Series 2013, RB^(g)	6.75%	01/01/2034		1,500		1,502,355


Whiting (City of), IN (BP Products North America, Inc.); Series 2015, RB^(b)(g)	4.40%	06/10/2031		620		623,355


						6,578,438



Iowa–1.46%
Iowa (State of) Board of Regents (University of Iowa Hospital & Clinics); Series 2022 B, RB	3.00%	09/01/2056		615		428,595


Iowa (State of) Finance Authority (Alcoa, Inc.); Series 2012, RB	4.75%	08/01/2042		1,245		1,189,978


Iowa (State of) Finance Authority (Iowa Fertilizer Co.); Series 2022, Ref. RB^(b)	5.00%	12/01/2042		2,740		2,741,952


Iowa (State of) Tobacco Settlement Authority;
Series 2021 A-2, Ref. RB	4.00%	06/01/2034		1,300		1,310,343


Series 2021 B-1, Ref. RB	4.00%	06/01/2049		1,200		1,166,322


PEFA, Inc.; Series 2019, RB^(b)	5.00%	09/01/2026		1,805		1,831,466


						8,668,656



Kentucky–1.28%
Henderson (City of), KY (Pratt Paper LLC); Series 2022 A, RB^(e)(g)	4.70%	01/01/2052		670		619,866


Kentucky (Commonwealth of) Economic Development Finance Authority (Catholic Health Initiatives); Series 2011 B, RB (SIFMA Municipal Swap Index + 1.40%)^(b)(o)	4.70%	02/01/2025		710		710,589


Kentucky (Commonwealth of) Economic Development Finance Authority (Louisville Arena Authority, Inc.); Series 2017 A, Ref. RB (INS - AGM)^(d)	5.00%	12/01/2047		530		530,126


Kentucky (Commonwealth of) Economic Development Finance Authority (Next Generation Kentucky Information Highway);
Series 2015 A, RB	5.00%	07/01/2037		1,110		1,118,324


Series 2015 A, RB	5.00%	07/01/2040		985		988,182


Series 2015 A, RB	5.00%	01/01/2045		1,335		1,335,510


Kentucky (Commonwealth of) Economic Development Finance Authority (Owensboro Health, Inc.);
Series 2017 A, Ref. RB	5.25%	06/01/2041		1,265		1,267,349


Series 2017 A, Ref. RB	5.00%	06/01/2045		1,015		1,013,201


						7,583,147



Louisiana–0.82%
Jefferson (Parish of), LA Sales Tax District; Series 2019 B, RB (INS - AGM)^(d)	4.00%	12/01/2042		1,000		981,460


Louisiana (State of) Local Government Environmental Facilities & Community Development Authority (St. James Parish Gomesa); Series 2019, RB^(e)	3.90%	11/01/2044		830		712,393


New Orleans (City of), LA Aviation Board; Series 2015 A, RB	5.00%	01/01/2045		2,680		2,691,203


New Orleans (City of), LA Aviation Board (Parking Facilities Corp. Consolidated Garage System); Series 2018 A, RB (INS - AGM)^(d)	5.00%	10/01/2048		495		508,769


						4,893,825



Maryland–0.71%
Brunswick (City of), MD (Brunswick Crossing); Series 2019, RB	5.00%	07/01/2036		384		386,904


Maryland (State of) Health & Higher Educational Facilities Authority (MedStar Health); Series 2017 A, RB	5.00%	05/15/2045		995		1,006,480

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


		Invesco Municipal Trust


	Interest Rate	Maturity Date	Principal Amount (000)		Value


Maryland–(continued)
Maryland (State of) Health & Higher Educational Facilities Authority (Stevenson University); Series 2021 A, Ref. RB	4.00%	06/01/2041	$	375	$	352,853


Maryland Economic Development Corp. (Green Bonds); Series 2022, RB^(g)	5.25%	06/30/2052		1,540		1,564,826


Prince George’s (County of), MD (Collington Episcopal Life Care Community, Inc.); Series 2017, Ref. RB	5.00%	04/01/2029		905		890,422


						4,201,485



Massachusetts–2.80%
Massachusetts (Commonwealth of);
Series 2004 A, Ref. GO Bonds (INS - AMBAC)^(d)	5.50%	08/01/2030		1,500		1,739,917


Series 2023, RB	5.00%	06/01/2053		4,585		4,933,544


Massachusetts (Commonwealth of) (Rail Enhancement Program) (Sustainability Bonds); Series 2022, RB	5.00%	06/01/2050		690		734,838


Massachusetts (Commonwealth of) Development Finance Agency (Atrius Health); Series 2015, Ref. RB	5.00%	01/01/2041		1,205		1,208,940


Massachusetts (Commonwealth of) Development Finance Agency (Boston Medical Center); Series 2023, Ref. RB	5.25%	07/01/2048		1,455		1,526,467


Massachusetts (Commonwealth of) Development Finance Agency (Massachusetts Institute of Technology); Series 2002 K, RB^(h)	5.50%	07/01/2032		2,500		3,079,967


Massachusetts (Commonwealth of) Development Finance Agency (Milford Regional Medical Center); Series 2020, Ref. RB^(e)	5.00%	07/15/2035		270		254,910


Massachusetts (Commonwealth of) Health & Educational Facilities Authority (Boston College); Series 2008, RB	5.50%	06/01/2026		400		425,215


Massachusetts (Commonwealth of) Port Authority;
Series 2019 A, Ref. RB^(g)	5.00%	07/01/2040		1,000		1,040,130


Series 2021 E, RB^(g)	5.00%	07/01/2046		1,060		1,096,108


Massachusetts (Commonwealth of) Water Resources Authority; Series 2007 B, Ref. RB (INS - AGM)^(d)	5.25%	08/01/2031		500		590,432


						16,630,468



Michigan–4.31%
Academy of Warren; Series 2020 A, RB^(e)	5.50%	05/01/2050		250		218,058


Detroit (City of), MI Downtown Development Authority (Catalyst Development); Series 2018 A, Ref. RB (INS - AGM)^(d)	5.00%	07/01/2048		2,110		2,113,038


Michigan (State of);
Series 2023, RB	5.00%	11/15/2046		2,800		3,072,581


Series 2023, RB	5.50%	11/15/2049		3,120		3,541,050


Michigan (State of) Building Authority (Facilities Program); Series 2016 I, RB^(h)	5.00%	04/15/2041		2,865		2,934,659


Michigan (State of) Finance Authority (Detroit Water & Sewerage Department);
Series 2014 C-3, RB (INS - AGM)^(d)	5.00%	07/01/2032		2,500		2,513,333


Series 2014 C-6, Ref. RB	5.00%	07/01/2033		625		627,803


Series 2014 D-4, Ref. RB	5.00%	07/01/2029		625		628,688


Michigan (State of) Finance Authority (Landmark Academy);
Series 2020, Ref. RB	5.00%	06/01/2035		165		152,862


Series 2020, Ref. RB	5.00%	06/01/2045		490		421,730


Michigan (State of) Finance Authority (Trinity Health Credit Group);
Series 2017 MI, RB^(h)(j)(k)	5.00%	12/01/2046		3,890		3,932,826


Series 2017, Ref. RB	4.00%	12/01/2040		860		845,927


Michigan (State of) Housing Development Authority; Series 2023 A, RB	5.10%	10/01/2053		1,950		2,033,422


Michigan (State of) Strategic Fund (Green Bonds); Series 2021, RB^(b)(g)	4.00%	10/01/2026		2,020		1,979,235


Michigan (State of) Strategic Fund (I-75 Improvement Project); Series 2018, RB^(g)	5.00%	06/30/2030		545		570,274


						25,585,486



Minnesota–0.34%
Bethel (City of), MN (Spectrum High School);
Series 2017 A, Ref. RB	4.25%	07/01/2047		305		236,506


Series 2017 A, Ref. RB	4.38%	07/01/2052		500		381,231


Duluth (City of), MN Economic Development Authority (Essentia Health Obligated Group); Series 2018, Ref. RB	5.00%	02/15/2048		595		599,477


St. Paul (City of), MN Housing & Redevelopment Authority (Higher Ground Academy); Series 2023, Ref. RB	5.50%	12/01/2057		500		487,982

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


		Invesco Municipal Trust


	Interest Rate		Maturity Date		Principal Amount (000)		Value


Minnesota–(continued)
St. Paul (City of), MN Housing & Redevelopment Authority (Hope Community Academy); Series 2020, RB		5.00%		12/01/2055	$	425	$	310,291


								2,015,487



Mississippi–0.11%
Mississippi Business Finance Corp. (System Energy Resources, Inc.); Series 2021, RB		2.38%		06/01/2044		1,120		659,207



Missouri–2.05%
Kansas City (City of), MO Industrial Development Authority (Downtown Redevelopment District);
Series 2011 A, Ref. RB		5.50%		09/01/2027		750		751,453


Series 2011 A, Ref. RB		5.50%		09/01/2028		1,515		1,517,935


Kansas City (City of), MO Industrial Development Authority (Kansas City International Airport);
Series 2019 B, RB^(g)		5.00%		03/01/2046		4,740		4,790,897


Series 2019 B, RB (INS - AGM)^(d)(g)		5.00%		03/01/2049		1,005		1,020,492


Kirkwood (City of), MO Industrial Development Authority (Aberdeen Heights); Series 2017 A, Ref. RB		5.25%		05/15/2050		510		376,038


Missouri (State of) Health & Educational Facilities Authority (Lutheran Senior Services);
Series 2014, RB		5.00%		02/01/2035		1,000		991,502


Series 2019, Ref. RB		5.00%		02/01/2048		330		300,275


St. Louis (County of), MO Industrial Development Authority (Friendship Village West County); Series 2018 A, RB		5.00%		09/01/2038		1,845		1,698,184


Taney (County of), MO Industrial Development Authority (Big Cedar Infrastructure); Series 2023, RB^(e)		6.00%		10/01/2049		770		750,214


								12,196,990



Nebraska–1.40%
Central Plains Energy Project (No. 3);
Series 2017 A, Ref. RB		5.00%		09/01/2034		205		218,913


Series 2017 A, Ref. RB		5.00%		09/01/2042		3,740		3,896,656


Central Plains Energy Project (No. 5); Series 2022-1, RB^(b)		5.00%		10/01/2029		825		849,362


Nebraska Investment Finance Authority; Series 2023 G, RB (CEP - GNMA)		5.35%		09/01/2048		1,030		1,065,325


Omaha (City of), NE Public Power District; Series 2022, RB^(h)(j)		5.25%		02/01/2052		2,075		2,265,423


								8,295,679



Nevada–1.55%
Clark (County of), NV Water Reclamation District; Series 2023, GO Bonds		5.00%		07/01/2053		5,185		5,543,579


Las Vegas Valley Water District; Series 2022 A, GO Bonds		4.00%		06/01/2044		3,705		3,661,281


								9,204,860



New Hampshire–0.68%
New Hampshire (State of) Business Finance Authority; Series 2020-1A, RB		4.13%		01/20/2034		303		291,450


New Hampshire (State of) Business Finance Authority (Social Bonds); Series 2022-1A, RB		4.38%		09/20/2036		1,640		1,604,012


New Hampshire (State of) Health and Education Facilities Authority; Series 2020 A, RB		5.00%		08/01/2059		1,105		1,144,751


New Hampshire (State of) Housing Finance Authority; Series 2023 D, RB (CEP - GNMA)		5.13%		07/01/2053		1,000		1,017,033


								4,057,246



New Jersey–8.34%
East Orange (City of), NJ Board of Education;
Series 1998, COP (INS - AGM)^(d)(f)		0.00%		02/01/2025		1,845		1,768,723


Series 1998, COP (INS - AGM)^(d)(f)		0.00%		02/01/2028		2,850		2,461,829


Essex (County of), NJ Improvement Authority; Series 2004, Ref. RB (INS - NATL)^(d)		5.50%		10/01/2028		1,000		1,128,573


Garden State Preservation Trust;
Series 2003 B, RB (INS - AGM)^(d)(f)		0.00%		11/01/2025		2,000		1,875,804


Series 2005 A, RB (INS - AGM)^(d)		5.75%		11/01/2028		1,000		1,069,613


New Jersey (State of) Economic Development Authority;
Series 2004 A, RB (INS - BHAC)^(d)(h)		5.25%		07/01/2026		7,000		7,378,673


Series 2005 N-1, Ref. RB (INS - AMBAC)^(d)		5.50%		09/01/2026		1,500		1,597,106


New Jersey (State of) Economic Development Authority (Continental Airlines, Inc.);
Series 1999, RB^(g)		5.25%		09/15/2029		455		455,246


Series 2012, RB^(g)		5.75%		09/15/2027		450		450,087


New Jersey (State of) Economic Development Authority (Kapkowski Road Landfill); Series 2002, Ref. RB		5.75%		04/01/2031		1,000		988,751


New Jersey (State of) Economic Development Authority (Social Bonds); Series 2021 QQQ, RB		5.00%		06/15/2033		1,460		1,622,834

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


		Invesco Municipal Trust


	Interest Rate		Maturity Date		Principal Amount (000)		Value


New Jersey–(continued)
New Jersey (State of) Economic Development Authority (The Goethals Bridge Replacement);
Series 2013, RB^(g)		5.13%		01/01/2034	$	1,250	$	1,250,216


Series 2013, RB^(g)		5.38%		01/01/2043		1,250		1,250,970


New Jersey (State of) Health Care Facilities Financing Authority (Inspira Health Obligated Group); Series 2017, RB		4.00%		07/01/2047		3,835		3,502,430


New Jersey (State of) Transportation Trust Fund Authority;
Series 2009 A, RB^(f)		0.00%		12/15/2039		6,000		2,941,657


Series 2010 A, RB^(f)		0.00%		12/15/2030		1,600		1,248,671


Series 2010 A, RB^(f)		0.00%		12/15/2031		3,000		2,253,959


Series 2018 A, RN^(h)(j)		5.00%		06/15/2029		1,590		1,657,787


Series 2018 A, RN^(h)(j)		5.00%		06/15/2030		550		573,127


Series 2018 A, RN^(h)(j)		5.00%		06/15/2031		1,005		1,046,388


Series 2021 A, Ref. RB		5.00%		06/15/2033		495		555,441


Series 2022, RB		5.25%		06/15/2046		1,430		1,538,519


New Jersey (State of) Turnpike Authority; Series 2005 A, Ref. RB (INS - AGM)^(d)		5.25%		01/01/2027		705		756,182


Rahway Valley Sewerage Authority (The); Series 2005 A, RB (INS - NATL)^(d)(f)		0.00%		09/01/2032		5,000		3,681,668


Tobacco Settlement Financing Corp.;
Series 2018 A, Ref. RB		5.00%		06/01/2046		2,935		2,952,565


Series 2018 A, Ref. RB		5.25%		06/01/2046		1,670		1,703,411


Series 2018 B, Ref. RB		5.00%		06/01/2046		1,845		1,850,138


								49,560,368



New Mexico–0.57%
New Mexico (State of) Finance Authority; Series 2023 A-2, RB		5.25%		06/01/2053		2,955		2,994,617


Santa Fe (City of), NM (El Castillo Retirement); Series 2019 A, RB		5.00%		05/15/2049		500		398,883


								3,393,500



New York–22.03%
Build NYC Resource Corp. (Brooklyn Navy Yard); Series 2019, Ref. RB^(e)(g)		5.25%		12/31/2033		400		353,415


Erie Tobacco Asset Securitization Corp.; Series 2005 A, RB		5.00%		06/01/2045		2,710		2,505,042


Hudson Yards Infrastructure Corp.; Series 2017 A, Ref. RB		4.00%		02/15/2044		2,525		2,462,043


Metropolitan Transportation Authority; Series 2013 B, RB^(b)(k)		5.00%		01/08/2024		1,850		1,852,782


Metropolitan Transportation Authority (Green Bonds);
Series 2016 A-1, RB		5.00%		11/15/2041		1,980		2,001,237


Series 2020 A-1, RB (INS - AGM)^(d)		4.00%		11/15/2041		2,000		1,945,620


Series 2020 A-1, RB (INS - BAM)^(d)		4.00%		11/15/2053		395		361,468


Series 2020 C-1, RB		5.25%		11/15/2055		1,335		1,380,526


New York & New Jersey (States of) Port Authority;
Eighty-Fifth Series 1993, RB (INS - NATL)^(d)		5.38%		03/01/2028		1,240		1,309,013


Series 2020 221, RB^(g)		4.00%		07/15/2055		2,345		2,106,729


Two Hundred Fifth Series 2017, Ref. RB		5.25%		11/15/2057		1,645		1,707,897


New York (City of), NY;
Series 2020 C, GO Bonds		5.00%		08/01/2043		2,470		2,649,552


Subseries 2022 D-1, RB^(h)		5.25%		05/01/2038		1,355		1,540,777


Subseries 2022 D-1, RB^(h)		5.25%		05/01/2042		2,305		2,566,038


Subseries 2023 E-1, GO Bonds		5.25%		04/01/2047		1,505		1,659,708


New York (City of), NY Municipal Water Finance Authority;
Series 2012, VRD RB⁽ⁿ⁾		3.25%		06/15/2046		4,950		4,950,000


Series 2020 BB-1, RB		4.00%		06/15/2050		1,675		1,637,067


Series 2020 BB-1, RB		5.00%		06/15/2050		3,240		3,439,273


Series 2020, Ref. RB		5.00%		06/15/2050		1,635		1,735,559


Series 2021, VRD RB⁽ⁿ⁾		1.90%		06/15/2045		3,300		3,300,000


New York (City of), NY Transitional Finance Authority;
Series 2019 B-1, RB		4.00%		11/01/2045		860		846,337


Series 2023 F-1, RB		4.00%		02/01/2051		2,540		2,453,961


Series 2024 B, RB		4.38%		05/01/2053		2,145		2,152,465


Subseries 2013, RB		5.00%		11/01/2038		5,010		5,012,298

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


		Invesco Municipal Trust


	Interest Rate		Maturity Date		Principal Amount (000)		Value


New York–(continued)
New York (State of) Dormitory Authority;
Series 2018 A, Ref. RB		5.25%		03/15/2039	$	1,240	$	1,327,015


Series 2018 E, RB^(h)		5.00%		03/15/2046		5,715		5,985,296


New York (State of) Dormitory Authority (Bidding Group 3); Series 2017 B, Ref. RB		4.00%		02/15/2047		1,945		1,875,684


New York (State of) Dormitory Authority (Memorial Sloan Kettering Cancer); Series 2022 1-B, RB		4.00%		07/01/2051		3,640		3,438,761


New York (State of) Power Authority; Series 2020 A, RB^(h)		4.00%		11/15/2045		3,675		3,636,751


New York (State of) Power Authority (Green Bonds); Series 2020, RB^(h)		4.00%		11/15/2055		4,185		4,032,555


New York (State of) Power Authority (Green Transmission) (Green Bonds); Series 2023, RB (INS - AGM)^(d)		5.00%		11/15/2053		1,705		1,826,720


New York (State of) Thruway Authority;
Series 2019 B, RB		4.00%		01/01/2050		5,400		4,976,310


Series 2019 B, RB (INS - AGM)^(d)(h)(j)		4.00%		01/01/2050		2,625		2,544,326


New York (State of) Thruway Authority (Group 3); Series 2021 A-1, Ref. RB		4.00%		03/15/2046		2,485		2,458,620


New York Counties Tobacco Trust IV; Series 2005 A, RB		5.00%		06/01/2045		285		261,448


New York Counties Tobacco Trust VI; Series 2016 A-1, Ref. RB		5.75%		06/01/2043		3,170		3,237,912


New York Liberty Development Corp. (3 World Trade Center); Series 2014, Class 1, Ref. RB^(e)		5.00%		11/15/2044		5,735		5,589,507


New York State Urban Development Corp. (Bidding Group 3); Series 2021 A, Ref. RB		4.00%		03/15/2045		3,350		3,262,221


New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport);
Series 2020, Ref. RB^(g)		5.25%		08/01/2031		520		534,544


Series 2020, Ref. RB^(g)		5.38%		08/01/2036		940		944,364


Series 2023, RB^(g)		5.38%		06/30/2060		2,115		2,116,865


New York Transportation Development Corp. (American Airlines, Inc.);
Series 2016, Ref. RB^(g)		5.00%		08/01/2026		1,000		1,000,038


Series 2016, Ref. RB^(g)		5.00%		08/01/2031		1,440		1,439,904


New York Transportation Development Corp. (Delta Air Lines, Inc. LaGuardia Airport Terminals C&D Redevelopment);
Series 2018, RB^(g)		5.00%		01/01/2033		2,100		2,127,151


Series 2018, RB^(g)		5.00%		01/01/2034		2,320		2,348,265


Series 2018, RB^(g)		5.00%		01/01/2036		1,860		1,873,016


Series 2020, RB^(g)		5.00%		10/01/2040		2,005		1,996,848


Series 2020, RB^(g)		4.38%		10/01/2045		1,175		1,060,674


New York Transportation Development Corp. (LaGuardia Airport Terminal B Redevelopment);
Series 2016 A, RB^(g)		5.00%		07/01/2046		3,235		3,206,999


Series 2016 A, RB^(g)		5.25%		01/01/2050		1,775		1,775,042


New York Transportation Development Corp. (Terminal 4 JFK International Airport); Series 2022, RB^(g)		5.00%		12/01/2038		1,870		1,950,610


Onondaga (County of), NY Trust for Cultural Resources (Syracuse University); Series 2019, Ref. RB		4.00%		12/01/2047		690		679,272


Rockland Tobacco Asset Securitization Corp.; Series 2001, RB		5.75%		08/15/2043		1,735		1,761,554


Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels);
Series 2020 A, RB		5.00%		11/15/2054		750		791,440


Series 2021 A, RB		5.00%		11/15/2056		1,135		1,200,091


Series 2022, RB^(h)		5.00%		05/15/2051		5,475		5,795,073


TSASC, Inc.; Series 2016 B, Ref. RB		5.00%		06/01/2045		2,125		1,886,642


								130,870,325



North Carolina–0.33%
Charlotte-Mecklenburg Hospital Authority (The) (Atrium Health); Series 2018 G, VRD RB⁽ⁿ⁾		2.10%		01/15/2048		445		445,000


Raleigh (City of), NC Combined Enterprise System; Series 2023, Ref. RB		4.00%		09/01/2053		1,545		1,513,752


								1,958,752



North Dakota–0.56%
Ward (County of), ND (Trinity Obligated Group);
Series 2017 C, RB		5.00%		06/01/2048		2,350		1,935,975


Series 2017 C, RB		5.00%		06/01/2053		1,745		1,380,849


								3,316,824



Ohio–5.81%
Akron, Bath & Copley Joint Township Hospital District (Summa Health Obligated Group); Series 2016, Ref. RB		5.25%		11/15/2046		2,645		2,657,479

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


		Invesco Municipal Trust


	Interest Rate		Maturity Date		Principal Amount (000)		Value


Ohio–(continued)
Buckeye Tobacco Settlement Financing Authority;
Series 2020 A-2, Ref. RB		4.00%		06/01/2048	$	5,290	$	4,635,648


Series 2020 B-2, Ref. RB		5.00%		06/01/2055		7,845		6,931,385


Series 2020 B-3, Ref. RB^(f)		0.00%		06/01/2057		8,605		884,397


Cleveland (City of) & Cuyahoga (County of), OH Port Authority (Constellation Schools); Series 2014 A, Ref. RB^(e)		6.50%		01/01/2034		1,100		1,100,063


Cleveland (City of), OH (Continental Airlines, Inc.); Series 1998, RB^(g)		5.38%		09/15/2027		805		805,049


Columbus (City of) & Franklin (County of), OH Finance Authority (Easton); Series 2020, RB^(e)		5.00%		06/01/2028		645		643,534


Cuyahoga (County of), OH (MetroHealth System);
Series 2017, Ref. RB		5.25%		02/15/2047		1,140		1,145,485


Series 2017, Ref. RB		5.50%		02/15/2052		845		855,141


Franklin (County of), OH (Nationwide Children’s Hospital); Series 2019, RB		5.00%		11/01/2048		1,360		1,461,094


Hamilton (County of), OH; Series 2000 B, RB (INS - AMBAC)^(d)(f)		0.00%		12/01/2023		2,000		2,000,000


Hamilton (County of), OH (Cincinnati Children’s Hospital); Series 2019 CC, RB		5.00%		11/15/2049		1,645		1,790,440


Hamilton (County of), OH (Life Enriching Communities); Series 2016, Ref. RB		5.00%		01/01/2046		1,490		1,330,672


Montgomery (County of), OH (Trousdale Foundation Properties); Series 2018 A, RB^(c)(e)		6.00%		04/01/2038		1,410		408,900


Muskingum (County of), OH (Genesis Healthcare System); Series 2013, RB		5.00%		02/15/2044		920		845,752


Ohio (State of); Series 2014, Ref. VRD RB⁽ⁿ⁾		3.80%		01/15/2045		2,000		2,000,000


Ohio (State of) (University Hospitals Health System, Inc.); Series 2020 A, Ref. RB		4.00%		01/15/2050		2,515		2,249,796


Ohio (State of) Air Quality Development Authority (Pratt Paper LLC); Series 2017, RB^(e)(g)		4.25%		01/15/2038		585		553,411


Ohio (State of) Housing Finance Agency (Covenant House Apartments); Series 2008 C, RB (CEP - GNMA)^(g)		5.85%		09/20/2028		285		285,207


Ohio (State of) Municipal Electric Generation Agency (Joint Venture 5); Series 2001, Beneficial Interest Ctfs. (INS - NATL)^(d)(f)		0.00%		02/15/2030		1,000		800,370


Ohio State University (The);
Series 2010 D, RB^(k)		5.00%		12/01/2030		45		51,195


Series 2010 D, RB		5.00%		12/01/2030		955		1,087,111


								34,522,129



Oklahoma–1.30%
Oklahoma (State of) Development Finance Authority (OU Medicine);
Series 2018 B, RB		5.50%		08/15/2052		3,780		3,660,115


Series 2018 B, RB		5.50%		08/15/2057		1,240		1,190,702


Oklahoma (State of) Development Finance Authority (Provident Oklahoma Education Resources, Inc.-Cross Village Student Housing); Series 2017, RB^(c)		5.00%		08/01/2052		1,945		1,945


Oklahoma (State of) Turnpike Authority; Series 2023, RB		5.50%		01/01/2053		1,155		1,277,137


Oklahoma (State of) Water Resources Board (2019 Master Trust);
Series 2023, RB		4.00%		04/01/2048		720		710,983


Series 2023, RB		4.13%		04/01/2053		895		858,909


								7,699,791



Ontario–0.14%
Affordable Housing Tax-Exempt Bond Pass-Thru Trust; Series 2023-1, RB^(e)		6.00%		10/05/2040		838		838,698



Oregon–1.21%
Clackamas (County of), OR Hospital Facility Authority (Rose Villa); Series 2020 A, Ref. RB		5.38%		11/15/2055		500		444,169


Oregon (State of); Series 2019, GO Bonds^(h)(j)		5.00%		08/01/2044		3,350		3,577,565


Portland (Port of), OR (Green Bonds); Twenty Ninth Series 2023, RB^(g)		5.50%		07/01/2053		1,425		1,538,464


Portland (Port of), OR (Portland International Airport); Series 2022 28, RB^(g)		5.00%		07/01/2052		1,605		1,655,092


								7,215,290



Pennsylvania–4.18%
Allegheny (County of), PA Airport Authority (Pittsburgh Airport); Series 2023 A, RB (INS - AGM)^(d)(g)		5.50%		01/01/2048		1,340		1,450,383


Allegheny (County of), PA Hospital Development Authority (Allegheny Health Network Obligated Group Issue); Series 2018 A, Ref. RB		4.00%		04/01/2044		2,905		2,709,506


Coatesville School District; Series 2020 A, GO Bonds (INS - BAM)^(d)(f)		0.00%		10/01/2036		650		376,080


Franklin (County of), PA Industrial Development Authority (Menno-Haven, Inc.); Series 2018, Ref. RB		5.00%		12/01/2024		500		495,441


Lancaster (County of), PA Hospital Authority (Penn State Health);
Series 2021, RB		5.00%		11/01/2046		515		528,983


Series 2021, RB		5.00%		11/01/2051		685		702,558

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


		Invesco Municipal Trust


	Interest Rate		Maturity Date		Principal Amount (000)		Value


Pennsylvania–(continued)
Pennsylvania (Commonwealth of) Economic Development Financing Authority (Penndot Major Bridges);
Series 2022, RB^(g)		5.25%		06/30/2053	$	2,015	$	2,081,368


Series 2022, RB (INS - AGM)^(d)(g)		5.00%		12/31/2057		1,010		1,021,717


Pennsylvania (Commonwealth of) Economic Development Financing Authority (UPMC);
Series 2021 A, Ref. RB		4.00%		10/15/2039		660		648,003


Series 2023 A-2, RB		4.00%		05/15/2048		545		497,681


Pennsylvania (Commonwealth of) Turnpike Commission;
Series 2014 A, RB		4.75%		12/01/2037		990		1,015,397


Series 2014 A-2, RB⁽ⁱ⁾		5.13%		12/01/2039		2,000		2,027,800


Series 2019 A, RB		5.00%		12/01/2049		220		229,313


Series 2020 B, RB		5.00%		12/01/2050		595		627,339


Series 2021 A, RB		4.00%		12/01/2050		1,250		1,173,717


Philadelphia (City of), PA;
Series 2017 B, Ref. RB^(g)		5.00%		07/01/2042		5,295		5,402,051


Series 2017 B, Ref. RB^(g)		5.00%		07/01/2047		525		531,618


Series 2021, Ref. RB (INS - AGM)^(d)(g)		4.00%		07/01/2041		1,230		1,177,308


Philadelphia (City of), PA Authority for Industrial Development (St. Joseph’s University); Series 2022, RB		5.50%		11/01/2060		1,670		1,755,300


Philadelphia (City of), PA Authority for Industrial Development (String Theory Charter School); Series 2020, Ref. RB^(e)		5.00%		06/15/2050		400		361,423


								24,812,986



Puerto Rico–5.54%
Children’s Trust Fund;
Series 2002, RB		5.50%		05/15/2039		2,975		2,982,518


Series 2002, RB		5.63%		05/15/2043		1,490		1,506,917


Series 2005 A, RB^(f)		0.00%		05/15/2050		5,915		1,089,335


Series 2005 B, RB^(f)		0.00%		05/15/2055		2,540		270,480


Series 2008 A, RB^(f)		0.00%		05/15/2057		14,970		1,106,353


Series 2008 B, RB^(f)		0.00%		05/15/2057		37,695		2,111,681


Puerto Rico (Commonwealth of);
Series 2021 A-1, GO Bonds		5.63%		07/01/2027		1,170		1,222,795


Series 2021 A-1, GO Bonds		4.00%		07/01/2035		1,260		1,155,447


Series 2021 A-1, GO Bonds		4.00%		07/01/2037		980		877,959


Subseries 2022, RN		0.00%		11/01/2043		750		391,010


Subseries 2022, RN		0.00%		11/01/2051		1,417		743,845


Puerto Rico (Commonwealth of) Electric Power Authority;
Series 2007 VV, Ref. RB (INS - NATL)^(d)		5.25%		07/01/2032		1,840		1,819,489


Series 2007 VV, Ref. RB (INS - NATL)^(d)		5.25%		07/01/2033		735		729,352


Series 2007 VV, Ref. RB (INS - NATL)^(d)		5.25%		07/01/2035		645		633,461


Puerto Rico (Commonwealth of) Highway & Transportation Authority; Series 2022 A, RB		5.00%		07/01/2062		1,680		1,663,200


Puerto Rico Sales Tax Financing Corp.;
Series 2018 A-1, RB^(f)		0.00%		07/01/2027		450		388,679


Series 2018 A-1, RB^(f)		0.00%		07/01/2029		1,495		1,182,483


Series 2018 A-1, RB^(f)		0.00%		07/01/2033		2,458		1,611,225


Series 2018 A-1, RB^(f)		0.00%		07/01/2046		8,305		2,450,747


Series 2018 A-1, RB^(f)		0.00%		07/01/2051		10,905		2,372,494


Series 2018 A-1, RB		4.75%		07/01/2053		1,320		1,249,212


Series 2018 A-1, RB		5.00%		07/01/2058		4,310		4,189,664


Series 2019 A-2, RB		4.33%		07/01/2040		1,230		1,167,327


								32,915,673



Rhode Island–0.36%
Tobacco Settlement Financing Corp.; Series 2015 B, Ref. RB		5.00%		06/01/2050		2,185		2,139,936



South Carolina–0.34%
Patriots Energy Group Financing Agency; Series 2023 A-1, RB^(b)		5.25%		08/01/2031		1,940		2,041,863

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


		Invesco Municipal Trust


	Interest Rate		Maturity Date		Principal Amount (000)		Value


South Dakota–0.90%
South Dakota (State of) Health & Educational Facilities Authority (Avera Health); Series 2017, Ref. RB		5.00%		07/01/2046	$	2,040	$	2,062,298


South Dakota (State of) Health & Educational Facilities Authority (Sanford Obligated Group); Series 2014 B, RB		5.00%		11/01/2044		2,185		2,193,126


South Dakota (State of) Housing Development Authority; Series 2023 G, RB (CEP - GNMA)		4.90%		11/01/2043		1,055		1,079,335


								5,334,759



Tennessee–3.48%
Chattanooga (City of), TN Health, Educational & Housing Facility Board (CommonSpirit Health); Series 2019 A-2, Ref. RB		5.00%		08/01/2049		1,260		1,270,692


Greeneville (Town of), TN Health & Educational Facilities Board (Ballad Health Obligated Group); Series 2018 A, Ref. RB		5.00%		07/01/2037		1,800		1,859,702


Kingsport (City of), TN; Series 2023, GO Bonds		4.13%		03/01/2053		2,035		1,969,924


Knox (County of), TN & Knoxville (City of), TN Sports Authority (Multi-Use Stadium); Series 2023 A, RB		6.00%		12/01/2054		6,000		6,838,004


Knoxville (City of), TN; Series 2022 OO, RB		4.00%		07/01/2052		3,225		3,089,295


Memphis (City of) & Shelby (County of), TN Airport Authority; Series 2018, RB^(g)		5.00%		07/01/2043		1,305		1,330,850


Metropolitan Nashville Airport Authority (The); Series 2019 B, RB^(g)		5.00%		07/01/2054		940		954,256


Nashville (City of) & Davidson (County of), TN Metropolitan Government Health & Educational Facilities Board (The) (Lipscomb University); Series 2019 A, Ref. RB		5.00%		10/01/2034		715		741,581


Tennessee Energy Acquisition Corp.; Series 2021 A, RB^(b)		5.00%		11/01/2031		2,510		2,606,898


								20,661,202



Texas–14.13%
Austin (City of), TX; Series 2022, RB^(g)		5.25%		11/15/2047		1,180		1,246,132


Bay Area Toll Authority (San Francisco Bay Area); Series 2023, VRD RB (LOC - Barclays Bank PLC)^(e)(n)(p)		2.40%		06/01/2063		820		820,000


Central Texas Regional Mobility Authority; Series 2020 A, Ref. RB		5.00%		01/01/2049		980		1,000,351


Clifton Higher Education Finance Corp. (Idea Public Schools); Series 2021 T, RB (CEP - Texas Permanent School Fund)		4.00%		08/15/2050		1,360		1,288,530


Clifton Higher Education Finance Corp. (International Leadership of Texas); Series 2018 D, RB		5.75%		08/15/2033		1,675		1,698,647


Crowley Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)		4.25%		02/01/2053		1,650		1,656,407


Denton (County of), TX; Series 2023, Ref. GO Bonds		4.00%		07/15/2048		4,250		4,139,840


El Paso (City of), TX; Series 2022 A, RB		4.00%		03/01/2048		3,065		2,945,484


Forney Independent School District; Series 2022 B, GO Bonds (CEP - Texas Permanent School Fund)		4.00%		08/15/2052		2,225		2,107,866


Greater Texoma Utility Authority (City of Sherman);
Series 2023 A, RB (INS - BAM)^(d)		4.38%		10/01/2053		1,340		1,313,393


Series 2023, RB (INS - AGM)^(d)		4.25%		10/01/2053		1,430		1,372,407


Harris (County of), TX Toll Road Authority (The); Series 2021, Ref. RB		4.00%		08/15/2050		1,295		1,252,835


Harris County Industrial Development Corp. (Energy Transfer L.P.); Series 2023, Ref. RB^(b)		4.05%		06/01/2033		1,345		1,339,965


Houston (City of), TX; Series 2023 A, Ref. RB (INS - AGM)^(d)(g)		5.25%		07/01/2048		1,725		1,826,167


Houston (City of), TX Airport System (United Airlines, Inc. Terminal E);
Series 2014, Ref. RB^(g)		4.75%		07/01/2024		565		564,724


Series 2021 A, RB^(g)		4.00%		07/01/2041		585		493,950


Houston (City of), TX Airport System (United Airlines, Inc.); Series 2018, RB^(g)		5.00%		07/15/2028		495		494,447


Jarrell Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)		4.25%		02/15/2053		1,360		1,363,815


La Vernia Higher Education Finance Corp. (Meridian World School); Series 2015 A, RB^(b)(e)(k)		5.50%		08/15/2024		1,330		1,344,070


Lamar Consolidated Independent School District; Series 2023, GO Bonds		4.00%		02/15/2053		1,860		1,732,933


Lockhart Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)		4.13%		08/01/2053		1,250		1,218,771


Lower Colorado River Authority (LCRA Transmission Services Corp.); Series 2022, Ref. RB		5.50%		05/15/2047		1,170		1,278,771


Mission Economic Development Corp. (Natgasoline); Series 2018, Ref. RB^(e)(g)		4.63%		10/01/2031		3,085		2,997,026


Montgomery Independent School District;
Series 2023, GO Bonds (CEP - Texas Permanent School Fund)		4.00%		02/15/2048		885		863,742


Series 2023, GO Bonds (CEP - Texas Permanent School Fund)		4.00%		02/15/2053		685		661,098


New Hope Cultural Education Facilities Finance Corp. (4-K Housing, Inc.-Stoney Brook); Series 2017 B, RB^(c)		5.00%		07/01/2052		1,500		600,000


New Hope Cultural Education Facilities Finance Corp. (Buckingham Senior Living Community);
Series 2021 A-1, RB		7.50%		11/15/2037		60		45,434


Series 2021, RB		2.00%		11/15/2061		1,611		595,080


New Hope Cultural Education Facilities Finance Corp. (Carillon Lifecare Community);
Series 2016, Ref. RB		5.00%		07/01/2036		650		539,565


Series 2016, Ref. RB		5.00%		07/01/2046		800		579,784

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


		Invesco Municipal Trust


	Interest Rate		Maturity Date		Principal Amount (000)		Value


Texas–(continued)
New Hope Cultural Education Facilities Finance Corp. (CHF-Collegiate Housing College Station I, LLC - Texas A&M University); Series 2014 A, RB (INS - AGM)^(d)		5.00%		04/01/2046	$	520	$	508,706


New Hope Cultural Education Facilities Finance Corp. (Children’s Health System of Texas); Series 2017 A, Ref. RB		5.00%		08/15/2047		1,440		1,470,011


New Hope Cultural Education Facilities Finance Corp. (Jubilee Academic Center); Series 2021, Ref. RB^(e)		4.00%		08/15/2051		1,010		733,367


New Hope Cultural Education Facilities Finance Corp. (Longhorn Village);
Series 2017, Ref. RB		5.00%		01/01/2042		495		436,831


Series 2017, Ref. RB		5.00%		01/01/2047		620		530,651


New Hope Cultural Education Facilities Finance Corp. (Presbyterian Village North);
Series 2018, Ref. RB		5.00%		10/01/2031		560		520,753


Series 2018, Ref. RB		5.00%		10/01/2032		1,015		933,724


Series 2020, RB		5.25%		10/01/2055		2,505		1,880,428


North East Texas Regional Mobility Authority; Series 2016 A, RB		5.00%		01/01/2041		3,065		3,087,623


San Antonio (City of), TX; Series 2023 A, Ref. RB		5.25%		02/01/2046		3,060		3,378,110


Tarrant (County of), TX Hospital District;
Series 2023, GO Bonds		4.25%		08/15/2048		805		790,280


Series 2023, GO Bonds		4.25%		08/15/2053		2,280		2,210,753


Tarrant County Cultural Education Facilities Finance Corp. (Air Force Village Obligated Group);
Series 2016, Ref. RB		5.00%		05/15/2037		2,295		2,020,445


Series 2016, Ref. RB		5.00%		05/15/2045		1,660		1,337,667


Tarrant County Cultural Education Facilities Finance Corp. (C.C. Young Memorial Home);
Series 2007, RB (Acquired 12/19/2007; Cost $286,020)^(c)(q)		5.75%		02/15/2025		305		167,750


Series 2017 A, RB^(c)		6.38%		02/15/2048		1,940		1,067,000


Tarrant County Cultural Education Facilities Finance Corp. (MRC Stevenson Oaks);
Series 2020, Ref. RB		6.63%		11/15/2041		85		77,958


Series 2020, Ref. RB		6.75%		11/15/2051		85		75,075


Series 2020, Ref. RB		6.88%		11/15/2055		85		75,609


Texas (State of) Transportation Commission; Series 2019, RB^(f)		0.00%		08/01/2043		3,000		1,124,372


Texas (State of) Transportation Commission (Central Texas Turnpike System);
Series 2015 B, Ref. RB^(f)		0.00%		08/15/2036		3,475		2,003,882


Series 2015 B, Ref. RB^(f)		0.00%		08/15/2037		1,175		636,060


Series 2015 C, Ref. RB		5.00%		08/15/2042		2,415		2,423,172


Texas (State of) Water Development Board; Series 2023 A, RB		4.88%		10/15/2048		2,430		2,593,773


Texas City Independent School District; Series 2023, GO Bonds (CEP - Texas Permanent School Fund)		4.00%		08/15/2053		1,430		1,387,649


Texas Municipal Gas Acquisition & Supply Corp. I; Series 2008 D, RB		6.25%		12/15/2026		2,665		2,753,629


Texas Private Activity Bond Surface Transportation Corp. (Blueridge Transportation Group, LLC SH 288 Toll Lanes); Series 2016, RB^(g)		5.00%		12/31/2055		1,140		1,141,550


Texas Water Development Board; Series 2022, RB^(h)		5.00%		10/15/2047		3,345		3,631,701


Travis County Cultural Education Facilities Finance Corp. (Wayside Schools); Series 2012 A, RB		5.25%		08/15/2042		10		9,322


Waco (City of), TX; Series 2023 A, Ctfs. Of Obligation		4.00%		02/01/2053		2,475		2,388,934


Waller Consolidated Independent School District; Series 2023, GO Bonds (INS - BAM)^(d)		4.00%		02/15/2053		3,360		3,188,591


								83,966,610



Utah–1.62%
Black Desert Public Infrastructure District; Series 2021 A, GO Bonds^(e)		4.00%		03/01/2051		500		365,002


Military Installation Development Authority; Series 2021 A-2, RB		4.00%		06/01/2052		500		354,762


Salt Lake City (City of), UT;
Series 2021 A, RB^(g)		5.00%		07/01/2046		835		862,359


Series 2023 A, RB^(g)		5.50%		07/01/2053		2,870		3,098,520


Utah (County of), UT (IHC Health Services, Inc.); Series 2016 B, RB		4.00%		05/15/2047		3,300		3,034,415


Utah (State of) Charter School Finance Authority (Ogden Preparatory Academy); Series 2022 A, Ref. RB		4.38%		10/15/2047		835		774,519


Utah Telecommunication Open Infrastructure Agency; Series 2022, Ref. RB		4.38%		06/01/2040		1,115		1,132,745


								9,622,322



Virginia–2.91%
Chesapeake (City of), VA Expressway; Series 2012 A, RB		5.00%		07/15/2047		2,540		2,540,453


Hampton (City of), VA Roads Transportation Accountability Commission; Series 2022 A, RB		4.00%		07/01/2052		2,895		2,803,887


Isle of Wight County Economic Development Authority; Series 2023, RB (INS -AGM)^(d)		5.25%		07/01/2048		1,305		1,390,901

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


		Invesco Municipal Trust


	Interest Rate		Maturity Date		Principal Amount (000)		Value


Virginia–(continued)
Peninsula Town Center Community Development Authority; Series 2018, Ref. RB^(e)		5.00%		09/01/2045	$	340	$	314,104


Roanoke (City of), VA Economic Development Authority (Richfield Living); Series 2020, RB^(c)		5.00%		09/01/2050		325		185,250


Virginia (Commonwealth of) Housing Development Authority; Series 2023 F, RB (CEP - Federal Housing Administration)		5.25%		11/01/2053		1,140		1,171,099


Virginia (Commonwealth of) Small Business Financing Authority (95 Express Lanes LLC); Series 2022, Ref. RB^(g)		5.00%		01/01/2037		3,120		3,263,255


Virginia (Commonwealth of) Small Business Financing Authority (I-495 Hot Lanes);
Series 2022, Ref. RB^(g)		5.00%		12/31/2047		560		573,841


Series 2022, Ref. RB^(g)		5.00%		12/31/2057		1,630		1,650,312


Virginia (Commonwealth of) Small Business Financing Authority (Transform 66 P3);
Series 2017, RB^(g)		5.00%		12/31/2049		910		914,394


Series 2017, RB^(g)		5.00%		12/31/2056		2,500		2,504,869


								17,312,365



Washington–3.64%
Bellevue (City of), WA Convention Center Authority (Compound Interest); Series 1994, Ref. RB^(f)(k)		0.00%		02/01/2024		5,000		4,973,611


Kalispel Tribe of Indians; Series 2018 A, RB^(e)		5.25%		01/01/2038		1,320		1,356,320


Seattle (City of), WA; Series 2022, Ref. RB		5.00%		07/01/2052		2,435		2,590,250


Tacoma (City of), WA; Series 2023, RB^(h)		4.00%		12/01/2047		2,785		2,688,039


Washington (State of) (Bid Group 2); Series 2024 A, GO Bonds		5.00%		08/01/2044		1,875		2,070,418


Washington (State of) Convention Center Public Facilities District; Series 2018, RB		5.00%		07/01/2048		3,480		3,545,452


Washington (State of) Health Care Facilities Authority (Seattle Cancer Care Alliance); Series 2020, Ref. RB		5.00%		09/01/2055		1,655		1,694,015


Washington (State of) Housing Finance Commission (Bayview Manor Homes);
Series 2016 A, Ref. RB^(e)		5.00%		07/01/2046		435		332,547


Series 2016 A, Ref. RB^(e)		5.00%		07/01/2051		360		265,283


Washington (State of) Housing Finance Commission (Social Certificates); Series 2021-1A, Revenue Ctfs.		3.50%		12/20/2035		1,199		1,103,608


Washington (State of) Tobacco Settlement Authority; Series 2013, Ref. RB		5.25%		06/01/2033		1,000		980,976


								21,600,519



West Virginia–0.45%
Monongalia (County of), WV Commission Special District (University Town Centre Economic Opportunity Development District); Series 2020, Ref. RB^(e)		7.50%		06/01/2043		830		899,500


West Virginia (State of) Hospital Finance Authority (West Virginia University Health System Obligated Group); Series 2023, RB		4.25%		06/01/2047		1,790		1,778,536


								2,678,036



Wisconsin–4.16%
Wisconsin (State of) Center District;
Series 2020 D, RB (INS - AGM)^(d)(f)		0.00%		12/15/2050		6,520		1,819,480


Series 2020 D, RB (INS - AGM)^(d)(f)		0.00%		12/15/2060		29,455		4,961,503


Series 2022, RB^(e)		5.25%		12/15/2061		1,705		1,656,276


Wisconsin (State of) Health & Educational Facilities Authority (Aspirus, Inc. Obligated Group); Series 2021, RB		4.00%		08/15/2051		2,800		2,531,161


Wisconsin (State of) Health & Educational Facilities Authority (Froedtert Health); Series 2022 A, Ref. RB		4.00%		04/01/2042		2,510		2,393,160


Wisconsin (State of) Health & Educational Facilities Authority (Gundersen Health system); Series 2021 A, Ref. RB		3.00%		10/15/2038		1,680		1,375,284


Wisconsin (State of) Health & Educational Facilities Authority (Medical College of Wisconsin); Series 2022, Ref. RB		4.00%		12/01/2051		1,540		1,416,791


Wisconsin (State of) Public Finance Authority (American Dream at Meadowlands);
Series 2017, RB^(c)(e)		6.75%		08/01/2031		915		640,500


Series 2017, RB^(e)		6.75%		12/01/2042		2,135		1,951,715


Wisconsin (State of) Public Finance Authority (Explore Academy);
Series 2020 A, RB^(e)		6.13%		02/01/2050		415		355,402


Series 2022 A, RB^(e)		6.13%		02/01/2050		450		385,376


Wisconsin (State of) Public Finance Authority (Mallard Creek STEM Academy); Series 2019 A, RB^(e)		5.13%		06/15/2039		625		592,595


Wisconsin (State of) Public Finance Authority (Maryland Proton Treatment Center); Series 2018 A-1, RB^(e)		6.38%		01/01/2048		650		399,750

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


		Invesco Municipal Trust


	Interest Rate		Maturity Date		Principal Amount (000)		Value


Wisconsin–(continued)
Wisconsin (State of) Public Finance Authority (Prime Healthcare Foundation, Inc.);
Series 2018 A, RB		5.20%		12/01/2037	$	1,675	$	1,693,374


Series 2018 A, RB		5.35%		12/01/2045		1,675		1,678,354


Wisconsin (State of) Public Finance Authority (Roseman University of Health Sciences); Series 2015, Ref. RB		5.75%		04/01/2035		875		887,165


								24,737,886



Wyoming–0.17%
University of Wyoming; Series 2021 C, RB (INS - AGM)^(d)		4.00%		06/01/2044		1,065		1,037,988


Total Municipal Obligations (Cost $913,604,243)								904,546,876



					Shares
Exchange-Traded Funds–0.09%
Invesco Municipal Strategic Income ETF (Cost $512,037)^(r)						10,050		499,752


TOTAL INVESTMENTS IN SECURITIES^(s)–152.34% (Cost $914,116,280)								905,046,628


FLOATING RATE NOTE OBLIGATIONS–(9.95)%
Notes with interest and fee rates ranging from 3.82% to 3.86% at 11/30/2023 and contractual maturities of collateral ranging from 07/01/2026 to 11/15/2055^(t)								(59,140,000	)


VARIABLE RATE MUNI TERM PREFERRED SHARES–(40.86)%								(242,745,480	)


OTHER ASSETS LESS LIABILITIES–(1.53)%								(9,051,170	)


NET ASSETS APPLICABLE TO COMMON SHARES–100.00%							$	594,109,978

Investment Abbreviations:


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
ETF		– Exchange-Traded Fund
FHLMC		– Federal Home Loan Mortgage Corp.
GNMA		– Government National Mortgage Association
GO		– General Obligation
IDR		– Industrial Development Revenue Bonds
INS		– Insurer
LOC		– Letter of Credit
NATL		– National Public Finance Guarantee Corp.
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

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


		Invesco Municipal Trust

Notes to Schedule of Investments:

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

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

^(c)	Defaulted security. Currently, the issuer is in default with respect to principal and/or interest payments. The aggregate value of these securities at November 30, 2023 was $4,102,868, which represented less than 1% of the Trust’s Net Assets.

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

^(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 November 30, 2023 was $48,082,394, which represented 8.09% of the Trust’s Net Assets.

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

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

^(h)	Underlying security related to TOB Trusts entered into by the Trust.

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

^(j)

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 $19,000,000. However, such shortfall payment would be reduced by the proceeds from the sale of the security underlying the TOB Trusts.

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

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

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

⁽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 November 30, 2023.

^(o)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on November 30, 2023.

^(p)	Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

^(q)	Restricted security. The value of this security at November 30, 2023 represented less than 1% of the Trust’s Net Assets.

^(r)

Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Trust owns 5% or more of the outstanding voting securities. The table below shows the Trust’s transactions in, and earnings from, its investments in affiliates for the nine months ended November 30, 2023.


	Value February 28, 2023	Purchases at Cost	Proceeds from Sales	Change in Unrealized Appreciation (Depreciation)	Realized Gain	Value November 30, 2023	Dividend Income
Invesco Municipal Strategic Income ETF	$500,445	$-	$-	$(693)	$-	$499,752	$15,306

^(s)

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


Entity	Percent


Assured Guaranty Municipal Corp.		5.21	%

^(t)

Floating rate note obligations related to securities held. The interest and fee rates shown reflect the rates in effect at November 30, 2023. At November 30, 2023, the Trust’s investments with a value of $86,275,683 are held by TOB Trusts and serve as collateral for the $59,140,000 in the floating rate note obligations outstanding at that date.

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

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


		Invesco Municipal Trust

Notes to Quarterly Schedule of Portfolio Holdings

November 30, 2023

(Unaudited)

NOTE 1–Additional Valuation Information

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


Level 1 –		Prices are determined using quoted prices in an active market for identical assets.
Level 2 –		Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.
Level 3 –		Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect Invesco Advisers, Inc.’s assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

The following is a summary of the tiered valuation input levels, as of November 30, 2023. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.


	Level 1		Level 2		Level 3		Total


Investments in Securities


Municipal Obligations		$ –		$903,891,382		$655,494		$904,546,876


Exchange-Traded Funds		499,752		–		–		499,752


Total Investments		$499,752		$903,891,382		$655,494		$905,046,628