# EDGAR Filing Document

**Accession Number:** 0000835333
**File Stem:** 0001752724-25-183718
**Filing Date:** 2025-7
**Character Count:** 184843
**Document Hash:** 144739cd9ca1041a7ae79d1058357180
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-183718.hdr.sgml**: 20250730

**ACCESSION NUMBER**: 0001752724-25-183718

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250730

**DATE AS OF CHANGE**: 20250730

**PERIOD START**: 20260228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Invesco Municipal Income Opportunities Trust
- **CENTRAL INDEX KEY:** 0000835333

**ORGANIZATION NAME:**
- **EIN:** 133473972
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0530

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05597
- **FILM NUMBER:** 251166466

**BUSINESS ADDRESS:**
- **STREET 1:** 1331 SPRING STREET N.W.
- **STREET 2:** SUITE 2500
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30309
- **BUSINESS PHONE:** 404-439-3217

**MAIL ADDRESS:**
- **STREET 1:** 1331 SPRING STREET N.W.
- **STREET 2:** SUITE 2500
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30309

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MORGAN STANLEY MUNICIPAL INCOME OPPORTUNITIES TRUST
- **DATE OF NAME CHANGE:** 20011220

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MSDW MUNICIPAL INCOME OPPORTUNITIES TRUST
- **DATE OF NAME CHANGE:** 19981221

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MUNICIPAL INCOME OPPORTUNITIES TRUST/MA
- **DATE OF NAME CHANGE:** 19930721

## Nport-Ex

**Schedule of Investments** 

*May 31, 2025*

*(Unaudited)* 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Municipal Obligations–141.33%**<sup>(a)</sup>  | **Municipal Obligations–141.33%**<sup>(a)</sup>  | **Municipal Obligations–141.33%**<sup>(a)</sup>  | **Municipal Obligations–141.33%**<sup>(a)</sup>  | **Municipal Obligations–141.33%**<sup>(a)</sup>  |
| **Alabama–0.83%** | **Alabama–0.83%** | **Alabama–0.83%** | **Alabama–0.83%** | **Alabama–0.83%** |
| &nbsp;&nbsp;&nbsp; Birmingham (City of), AL Special Care Facilities Financing Authority (Methodist Home for the Aging); <br> Series 2016, RB<br>| 5.75% | 06/01/2045 | $1000 | &nbsp;&nbsp; $878729 |
| &nbsp;&nbsp;&nbsp; Huntsville (City of), AL Special Care Facilities Financing Authority (Redstone Village); Series 2007, <br> RB (Acquired 10/18/2010; Cost $739,982)<sup>(b)(c)</sup> <br>| 5.50% | 01/01/2043 | 925 | &nbsp;&nbsp; 508750 |
| &nbsp;&nbsp;&nbsp; Tuscaloosa (County of), AL Industrial Development Authority (Hunt Refining); Series 2019 A, Ref. <br> IDR<sup>(d)</sup> <br>| 5.25% | 05/01/2044 | 1000 | &nbsp;&nbsp; 985241 |
|  |  |  |  | &nbsp;&nbsp; 2372720 |
| **American Samoa–0.26%** | **American Samoa–0.26%** | **American Samoa–0.26%** | **American Samoa–0.26%** | **American Samoa–0.26%** |
| American Samoa (Territory of) Economic Development Authority; Series 2015 A, Ref. RB | 6.63% | 09/01/2035 | 750 | &nbsp;&nbsp; 754928 |
| **Arizona–1.44%** | **Arizona–1.44%** | **Arizona–1.44%** | **Arizona–1.44%** | **Arizona–1.44%** |
| &nbsp;&nbsp;&nbsp; Arizona (State of) Industrial Development Authority (Academies of Math & Science); Series 2022, <br> RB<sup>(d)</sup> <br>| 5.25% | 07/01/2052 | 1700 | &nbsp;&nbsp; 1577418 |
| &nbsp;&nbsp;&nbsp; Glendale (City of), AZ Industrial Development Authority (The Beatitudes Campus); Series 2017, Ref. <br> RB<br>| 5.00% | 11/15/2040 | 1500 | &nbsp;&nbsp; 1088470 |
| &nbsp;&nbsp;&nbsp; Pima (County of), AZ Industrial Development Authority (The) (Career Success Schools); Series 2020, <br> Ref. RB<sup>(d)</sup> <br>| 5.50% | 05/01/2040 | 1500 | &nbsp;&nbsp; 1432901 |
|  |  |  |  | &nbsp;&nbsp; 4098789 |
| **Arkansas–0.52%** | **Arkansas–0.52%** | **Arkansas–0.52%** | **Arkansas–0.52%** | **Arkansas–0.52%** |
| Arkansas (State of) Development Finance Authority (Green Bonds); Series 2022, RB<sup>(e)</sup> <br>| 5.45% | 09/01/2052 | 1500 | &nbsp;&nbsp; 1493190 |
| **California–19.33%** | **California–19.33%** | **California–19.33%** | **California–19.33%** | **California–19.33%** |
| California (State of); Series 2023, GO Bonds<sup>(f)</sup> <br>| 5.25% | 09/01/2053 | 4000 | &nbsp;&nbsp; 4218520 |
| California (State of) Educational Facilities Authority (Stanford University); Series 2014 U-6, RB<sup>(f)</sup> <br>| 5.00% | 05/01/2045 | 3000 | &nbsp;&nbsp; 3264333 |
| &nbsp;&nbsp;&nbsp; California (State of) Municipal Finance Authority (Palomar Health); Series 2022 A, Ref. COP (INS - <br> AGI)<sup>(g)</sup> <br>| 5.25% | 11/01/2052 | 1250 | &nbsp;&nbsp; 1261499 |
| California (State of) Pollution Control Financing Authority (Plant Bonds); Series 2012, RB<sup>(d)(e)</sup> <br>| 5.00% | 07/01/2037 | 1000 | &nbsp;&nbsp; 999929 |
| &nbsp;&nbsp;&nbsp; California (State of) Statewide Communities Development Authority (Creative Child Care & Team <br> Charter); Series 2015, RB<sup>(d)</sup> <br>| 6.75% | 06/01/2045 | 700 | &nbsp;&nbsp; 674416 |
| &nbsp;&nbsp;&nbsp; California (State of) Statewide Communities Development Authority (Loma Linda University Medical <br> Center); Series 2014, RB<br>| 5.50% | 12/01/2054 | 2000 | &nbsp;&nbsp; 1950958 |
| California (State of) Statewide Financing Authority (Pooled Tobacco Securitization Program); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2002, RB | 6.00% | 05/01/2043 | 750 | &nbsp;&nbsp; 765691 |
| &nbsp;&nbsp;&nbsp; Series 2006 A, RB<sup>(h)</sup> <br>| 0.00% | 06/01/2046 | 10000 | &nbsp;&nbsp; 2481008 |
| &nbsp;&nbsp;&nbsp; Series 2006 C, RB<sup>(d)(h)</sup> <br>| 0.00% | 06/01/2055 | 25000 | &nbsp;&nbsp; 1589460 |
| &nbsp;&nbsp;&nbsp; Daly (City of), CA Housing Development Finance Agency (Franciscan Mobile Home Park Acquisition); <br> Series 2007 C, Ref. RB<br>| 6.50% | 12/15/2047 | 835 | &nbsp;&nbsp; 834958 |
| Golden State Tobacco Securitization Corp.; Series 2021 B-2, Ref. RB<sup>(h)</sup> <br>| 0.00% | 06/01/2066 | 11800 | &nbsp;&nbsp; 1270880 |
| Long Beach (City of), CA Finance Authority; Series 2023, RB<sup>(f)</sup> <br>| 4.00% | 08/01/2053 | 10000 | &nbsp;&nbsp; 9056952 |
| Poway Unified School District (School Facilities Improvement); Series 2011, GO Bonds<sup>(h)</sup> <br>| 0.00% | 08/01/2039 | 8000 | &nbsp;&nbsp; 4361093 |
| Regents of the University of California Medical Center; Series 2022, RB<sup>(f)(i)</sup> <br>| 4.00% | 05/15/2053 | 10740 | &nbsp;&nbsp; 9290517 |
| Silicon Valley Tobacco Securitization Authority (Santa Clara); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2007 A, RB<sup>(h)</sup> <br>| 0.00% | 06/01/2036 | 2000 | &nbsp;&nbsp; 1086615 |
| &nbsp;&nbsp;&nbsp; Series 2007 A, RB<sup>(h)</sup> <br>| 0.00% | 06/01/2041 | 5000 | &nbsp;&nbsp; 1783205 |
| Southern California Logistics Airport Authority; Series 2008 A, RB<sup>(h)</sup> <br>| 0.00% | 12/01/2044 | 18085 | &nbsp;&nbsp; 5864774 |
| &nbsp;&nbsp;&nbsp; Southern California Tobacco Securitization Authority (San Diego County Asset Securitization Corp.); <br> Series 2019, Ref. RB<sup>(h)</sup> <br>| 0.00% | 06/01/2054 | 3500 | &nbsp;&nbsp; 703520 |
| Ventura Unified School District (Election of 2022); Series 2022 A, GO Bonds<sup>(f)</sup> <br>| 4.00% | 08/01/2048 | 4000 | &nbsp;&nbsp; 3662762 |
|  |  |  |  | &nbsp;&nbsp; 55121090 |
| **Colorado–8.97%** | **Colorado–8.97%** | **Colorado–8.97%** | **Colorado–8.97%** | **Colorado–8.97%** |
| Chaparral Pointe Metropolitan District; Series 2021, GO Bonds<sup>(d)</sup> <br>| 5.00% | 12/01/2051 | 1350 | &nbsp;&nbsp; 1151726 |
| Colorado (State of) Health Facilities Authority (Intermountain Healthcare); Series 2020 A, RB<sup>(f)</sup> <br>| 4.00% | 05/15/2052 | 9900 | &nbsp;&nbsp; 8518950 |

---

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

**Invesco Municipal Income Opportunities Trust**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Colorado–(continued)** | **Colorado–(continued)** | **Colorado–(continued)** | **Colorado–(continued)** | **Colorado–(continued)** |
| Denver (City & County of), CO; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2022, RB<sup>(e)(f)(i)</sup> <br>| 5.00% | 11/15/2042 | $1000 | &nbsp;&nbsp; $1006000 |
| &nbsp;&nbsp;&nbsp; Series 2022, RB<sup>(e)(f)(i)</sup> <br>| 5.75% | 11/15/2045 | 2000 | &nbsp;&nbsp; 2118500 |
| Dominion Water & Sanitation District; Series 2022, Ref. RB | 5.88% | 12/01/2052 | 2270 | &nbsp;&nbsp; 2273687 |
| East Bend Metropolitan District; Series 2022, GO Bonds | 6.50% | 12/01/2052 | 2600 | &nbsp;&nbsp; 2455397 |
| Gardens on Havana Metropolitan District No. 3 (The); Series 2017 B, RB | 7.75% | 12/15/2047 | 560 | &nbsp;&nbsp; 560406 |
| Haymeadow Metropolitan District No. 1; Series 2025, GO Bonds | 8.38% | 12/15/2049 | 1185 | &nbsp;&nbsp; 1195915 |
| Hess Ranch Metropolitan District No. 6; Series 2020 A-2, GO Bonds<sup>(j)</sup> <br>| 5.75% | 12/01/2049 | 1000 | &nbsp;&nbsp; 876143 |
| Palisade Metropolitan District No. 2; Series 2024, Ref. RB<sup>(d)(j)</sup> <br>| 5.88% | 12/15/2054 | 500 | &nbsp;&nbsp; 459064 |
| Remuda Ranch Metropolitan District; Series 2020 A, GO Bonds | 5.00% | 12/01/2050 | 2300 | &nbsp;&nbsp; 1933733 |
| Ritoro Metropolitan District; Series 2025, Ref. GO Bonds | 6.25% | 12/15/2057 | 658 | &nbsp;&nbsp; 644889 |
| Rudolph Farms Metropolitan District No. 6; Series 2022 A, GO Bonds | 6.50% | 06/01/2052 | 1500 | &nbsp;&nbsp; 1380971 |
| Verve Metropolitan District No. 1; Series 2021, Ref. GO Bonds | 5.00% | 12/01/2036 | 525 | &nbsp;&nbsp; 492306 |
| West Meadow Metropolitan District (Senior Bonds); Series 2023 A, Ref. GO Bonds<sup>(d)</sup> <br>| 6.50% | 12/01/2050 | 500 | &nbsp;&nbsp; 505053 |
|  |  |  |  | &nbsp;&nbsp; 25572740 |
| **Connecticut–0.59%** | **Connecticut–0.59%** | **Connecticut–0.59%** | **Connecticut–0.59%** | **Connecticut–0.59%** |
| Georgetown (City of), CT Special Taxing District; Series 2006 A, GO Bonds<sup>(b)</sup> <br>| 5.13% | 10/01/2036 | 5310 | &nbsp;&nbsp; 637200 |
| Hamden (Town of), CT (Whitney Center); Series 2022 A, RB | 7.00% | 01/01/2053 | 1000 | &nbsp;&nbsp; 1046167 |
|  |  |  |  | &nbsp;&nbsp; 1683367 |
| **Delaware–0.32%** | **Delaware–0.32%** | **Delaware–0.32%** | **Delaware–0.32%** | **Delaware–0.32%** |
| Millsboro (Town of), DE (Plantation Lakes Special Development District); Series 2018, Ref. RB<sup>(d)</sup> <br>| 5.25% | 07/01/2048 | 997 | &nbsp;&nbsp; 926095 |
| **District of Columbia–2.13%** | **District of Columbia–2.13%** | **District of Columbia–2.13%** | **District of Columbia–2.13%** | **District of Columbia–2.13%** |
| Metropolitan Washington Airports Authority; Series 2023 A, Ref. RB<sup>(e)(f)(i)</sup> <br>| 5.25% | 10/01/2048 | 6000 | &nbsp;&nbsp; 6068253 |
| **Florida–24.57%** | **Florida–24.57%** | **Florida–24.57%** | **Florida–24.57%** | **Florida–24.57%** |
| &nbsp;&nbsp;&nbsp; Alachua (County of), FL Health Facilities Authority (East Ridge Retirement Village, Inc.); Series 2014, <br> RB (Acquired 02/26/2014-06/30/2014; Cost $888,926)<sup>(b)(c)</sup> <br>| 6.38% | 11/15/2049 | 900 | &nbsp;&nbsp; 585000 |
| &nbsp;&nbsp;&nbsp; Alachua (County of), FL Health Facilities Authority (Terraces at Bonita Springs); Series 2022 A, Ref. <br> RB (Acquired 01/25/2022; Cost $1,075,000)<sup>(b)(c)(d)</sup> <br>| 5.00% | 11/15/2061 | 1075 | &nbsp;&nbsp; 771415 |
| Broward (County of), FL; Series 2023, RB<sup>(f)</sup> <br>| 5.50% | 01/01/2055 | 12365 | &nbsp;&nbsp; 13019785 |
| Capital Projects Finance Authority (Kissimmee Charter Academy); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024, RB<sup>(d)</sup> <br>| 6.50% | 06/15/2054 | 275 | &nbsp;&nbsp; 278498 |
| &nbsp;&nbsp;&nbsp; Series 2024, RB<sup>(d)</sup> <br>| 6.63% | 06/15/2059 | 445 | &nbsp;&nbsp; 452586 |
| Capital Projects Finance Authority (Millenia Orlando); Series 2025 A, RB<sup>(d)</sup> <br>| 6.38% | 01/01/2040 | 2000 | &nbsp;&nbsp; 1970096 |
| Capital Trust Agency, Inc. (Advantage Academy of Hillsborough); Series 2019 A, RB | 5.00% | 12/15/2049 | 3230 | &nbsp;&nbsp; 2910085 |
| &nbsp;&nbsp;&nbsp; Capital Trust Agency, Inc. (H-Bay Ministries, Inc.- Superior Residences); Series 2018 A-1, RB <br> (Acquired 03/09/2020; Cost $258,452)<sup>(b)(c)</sup> <br>| 5.00% | 07/01/2048 | 250 | &nbsp;&nbsp; 73750 |
| Capital Trust Agency, Inc. (Tallahassee Tapestry); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015, RB (Acquired 08/14/2019; Cost $102,052)<sup>(b)(c)(d)</sup> <br>| 6.75% | 12/01/2035 | 100 | &nbsp;&nbsp; 15000 |
| &nbsp;&nbsp;&nbsp; Series 2015, RB (Acquired 12/02/2015; Cost $988,260)<sup>(b)(c)(d)</sup> <br>| 7.00% | 12/01/2045 | 1000 | &nbsp;&nbsp; 150000 |
| Capital Trust Authority (Central Florida Preparatory School Project); Series 2024, RB<sup>(d)</sup> <br>| 6.63% | 06/15/2054 | 1000 | &nbsp;&nbsp; 983809 |
| Capital Trust Authority (KIPP Miami N Campus); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024 A, RB<sup>(d)</sup> <br>| 6.00% | 06/15/2054 | 650 | &nbsp;&nbsp; 655441 |
| &nbsp;&nbsp;&nbsp; Series 2024 A, RB<sup>(d)</sup> <br>| 6.13% | 06/15/2060 | 800 | &nbsp;&nbsp; 807317 |
| &nbsp;&nbsp;&nbsp; Collier (County of), FL Industrial Development Authority (The Arlington of Naples); Series 2014 A, RB <br> (Acquired 12/16/2013-12/19/2013; Cost $882,393)<sup>(b)(c)(d)</sup> <br>| 8.25% | 05/15/2049 | 895 | &nbsp;&nbsp; 90 |
| Florida Development Finance Corp. (Brightline Florida Passenger Rail Expansion); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024, Ref. RB<sup>(d)(e)(k)</sup> <br>| 12.00% | 07/15/2028 | 2000 | &nbsp;&nbsp; 2076758 |
| &nbsp;&nbsp;&nbsp; Series 2024, Ref. RB<sup>(e)</sup> <br>| 5.00% | 07/01/2041 | 2000 | &nbsp;&nbsp; 1837651 |
| &nbsp;&nbsp;&nbsp; Series 2024, Ref. RB (INS - AGI)<sup>(e)(g)</sup> <br>| 5.25% | 07/01/2047 | 1000 | &nbsp;&nbsp; 1003096 |
| Florida Development Finance Corp. (Parrish Charter Academy, Inc.); Series 2023, RB<sup>(d)(k)</sup> <br>| 6.25% | 06/15/2028 | 2140 | &nbsp;&nbsp; 2113091 |
| Florida Development Finance Corp. (Renaissance Charter School, Inc.); Series 2015, RB<sup>(d)</sup> <br>| 6.13% | 06/15/2046 | 985 | &nbsp;&nbsp; 984968 |
| Florida Development Finance Corp. (River City Science Academy); Series 2021, RB | 4.00% | 07/01/2045 | 1200 | &nbsp;&nbsp; 998840 |
| Hillsborough County Industrial Development Authority; Series 2024, RB<sup>(f)(i)</sup> <br>| 5.25% | 11/15/2049 | 13000 | &nbsp;&nbsp; 13454799 |
| Lake Helen (City of), FL (Ivy Hawn Charter School of the Arts); Series 2018 A, RB<sup>(d)</sup> <br>| 5.38% | 07/15/2038 | 1300 | &nbsp;&nbsp; 1240698 |
| &nbsp;&nbsp;&nbsp; Lee (County of), FL Industrial Development Authority (Lee County Community Charter Schools, LLC); <br> Series 2012, IDR<sup>(d)</sup> <br>| 5.75% | 06/15/2042 | 1200 | &nbsp;&nbsp; 1178752 |

---

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

**Invesco Municipal Income Opportunities Trust**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Florida–(continued)** | **Florida–(continued)** | **Florida–(continued)** | **Florida–(continued)** | **Florida–(continued)** |
| Manatee (County of), FL; Series 2023, Ref. RB<sup>(f)</sup> <br>| 4.00% | 10/01/2053 | $10000 | &nbsp;&nbsp; $8499563 |
| Miami-Dade (County of), FL; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2009, RB<sup>(h)</sup> <br>| 0.00% | 10/01/2042 | 7900 | &nbsp;&nbsp; 3554089 |
| &nbsp;&nbsp;&nbsp; Series 2017 B, Ref. RB<sup>(e)(f)(i)</sup> <br>| 5.00% | 10/01/2040 | 2000 | &nbsp;&nbsp; 1996424 |
| &nbsp;&nbsp;&nbsp; Series 2022, RB<sup>(f)</sup> <br>| 5.00% | 07/01/2052 | 5000 | &nbsp;&nbsp; 5020597 |
| &nbsp;&nbsp;&nbsp; Orange (County of), FL Health Facilities Authority (Presbyterian Retirement Communities Obligated <br> Group); Series 2024, Ref. RB<br>| 5.00% | 08/01/2054 | 1000 | &nbsp;&nbsp; 940947 |
| Seminole (County of), FL; Series 2022, RB<sup>(f)</sup> <br>| 5.00% | 10/01/2052 | 2430 | &nbsp;&nbsp; 2469696 |
|  |  |  |  | &nbsp;&nbsp; 70042841 |
| **Idaho–0.41%** | **Idaho–0.41%** | **Idaho–0.41%** | **Idaho–0.41%** | **Idaho–0.41%** |
| Idaho (State of) Health Facilities Authority (Valley Vista Care Corp.); Series 2017 A, Ref. RB | 5.25% | 11/15/2047 | 1600 | &nbsp;&nbsp; 1181764 |
| **Illinois–5.50%** | **Illinois–5.50%** | **Illinois–5.50%** | **Illinois–5.50%** | **Illinois–5.50%** |
| Chicago (City of), IL; Series 2017 A, Ref. GO Bonds | 6.00% | 01/01/2038 | 1500 | &nbsp;&nbsp; 1526886 |
| Chicago (City of), IL Board of Education; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2022 B, Ref. GO Bonds | 4.00% | 12/01/2040 | 1665 | &nbsp;&nbsp; 1462057 |
| &nbsp;&nbsp;&nbsp; Series 2023 A, GO Bonds | 6.00% | 12/01/2049 | 1000 | &nbsp;&nbsp; 1044777 |
| Illinois (State of); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2020, GO Bonds | 5.75% | 05/01/2045 | 1000 | &nbsp;&nbsp; 1039287 |
| &nbsp;&nbsp;&nbsp; Series 2021 A, GO Bonds | 5.00% | 03/01/2046 | 500 | &nbsp;&nbsp; 497606 |
| Illinois (State of) Development Finance Authority (CITGO Petroleum Corp.); Series 2002, RB<sup>(e)</sup> <br>| 8.00% | 06/01/2032 | 140 | &nbsp;&nbsp; 140145 |
| Illinois (State of) Finance Authority (Intrinsic Schools - Belmont School); Series 2015, RB<sup>(d)</sup> <br>| 6.00% | 12/01/2045 | 1000 | &nbsp;&nbsp; 1001095 |
| Illinois (State of) Finance Authority (Lutheran Communities Obligated Group); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2019 A, Ref. RB (Acquired 10/28/2022; Cost $1,265,750)<sup>(c)</sup> <br>| 5.00% | 11/01/2040 | 1525 | &nbsp;&nbsp; 1021750 |
| &nbsp;&nbsp;&nbsp; Series 2019 A, Ref. RB (Acquired 06/02/2022; Cost $956,840)<sup>(c)</sup> <br>| 5.00% | 11/01/2049 | 1000 | &nbsp;&nbsp; 670000 |
| &nbsp;&nbsp;&nbsp; Illinois (State of) Finance Authority (Northshore Edward Elmhurst Health Credit Group); Series 2022, <br> RB<sup>(f)(i)</sup> <br>| 5.00% | 08/15/2051 | 5375 | &nbsp;&nbsp; 5375074 |
| Illinois (State of) Finance Authority (Rogers Park Montessori School); Series 2014, Ref. RB | 6.13% | 02/01/2045 | 1140 | &nbsp;&nbsp; 1139979 |
| Illinois (State of) Finance Authority (Villa St. Benedict); Series 2015, Ref. RB | 6.38% | 11/15/2043 | 775 | &nbsp;&nbsp; 775451 |
|  |  |  |  | &nbsp;&nbsp; 15694107 |
| **Indiana–2.22%** | **Indiana–2.22%** | **Indiana–2.22%** | **Indiana–2.22%** | **Indiana–2.22%** |
| Indiana (State of) Finance Authority (Irvington Community School); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2018 A, Ref. RB<sup>(d)</sup> <br>| 5.90% | 07/01/2038 | 1000 | &nbsp;&nbsp; 984471 |
| &nbsp;&nbsp;&nbsp; Series 2018 A, Ref. RB<sup>(d)</sup> <br>| 6.00% | 07/01/2048 | 1000 | &nbsp;&nbsp; 960973 |
| Indiana (State of) Finance Authority (University of Evansville); Series 2022 A, Ref. RB | 5.25% | 09/01/2044 | 3500 | &nbsp;&nbsp; 3356406 |
| Indianapolis Local Public Improvement Bond Bank (Convention Center Hotel); Series 2023 E, RB | 6.00% | 03/01/2053 | 1000 | &nbsp;&nbsp; 1036360 |
|  |  |  |  | &nbsp;&nbsp; 6338210 |
| **Iowa–1.86%** | **Iowa–1.86%** | **Iowa–1.86%** | **Iowa–1.86%** | **Iowa–1.86%** |
| Iowa (State of) Finance Authority (Iowa Fertilizer Co.); Series 2022, Ref. RB<sup>(k)(l)</sup> <br>| 5.00% | 12/01/2032 | 2000 | &nbsp;&nbsp; 2249663 |
| Iowa (State of) Finance Authority (Northcrest, Inc.); Series 2018 A, RB | 5.00% | 03/01/2038 | 1150 | &nbsp;&nbsp; 1125245 |
| Iowa (State of) Tobacco Settlement Authority; Series 2021 B-2, Ref. RB<sup>(h)</sup> <br>| 0.00% | 06/01/2065 | 13000 | &nbsp;&nbsp; 1919638 |
|  |  |  |  | &nbsp;&nbsp; 5294546 |
| **Kansas–0.34%** | **Kansas–0.34%** | **Kansas–0.34%** | **Kansas–0.34%** | **Kansas–0.34%** |
| Wichita (City of), KS (Presbyterian Manors, Inc.); Series 2024 VIII, Ref. RB | 5.75% | 05/15/2045 | 1000 | &nbsp;&nbsp; 957391 |
| **Kentucky–0.79%** | **Kentucky–0.79%** | **Kentucky–0.79%** | **Kentucky–0.79%** | **Kentucky–0.79%** |
| &nbsp;&nbsp;&nbsp; Kentucky (Commonwealth of) Public Transportation Infrastructure Authority (Downtown Crossing); <br> Series 2013 C, RB<br>| 6.88% | 07/01/2046 | 2000 | &nbsp;&nbsp; 2245623 |
| **Louisiana–0.25%** | **Louisiana–0.25%** | **Louisiana–0.25%** | **Louisiana–0.25%** | **Louisiana–0.25%** |
| &nbsp;&nbsp;&nbsp; Louisiana (State of) Local Government Environmental Facilities & Community Development Authority; <br> Series 2015 A, Ref. RB<br>| 6.25% | 11/15/2045 | 750 | &nbsp;&nbsp; 726436 |
| **Maine–3.53%** | **Maine–3.53%** | **Maine–3.53%** | **Maine–3.53%** | **Maine–3.53%** |
| Maine Health & Higher Educational Facilities Authority; Series 2023, RB (INS - AGI)<sup>(f)(g)(i)</sup> <br>| 4.75% | 07/01/2053 | 10660 | &nbsp;&nbsp; 10074698 |

---

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

**Invesco Municipal Income Opportunities Trust**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Massachusetts–8.01%** | **Massachusetts–8.01%** | **Massachusetts–8.01%** | **Massachusetts–8.01%** | **Massachusetts–8.01%** |
| Massachusetts (Commonwealth of); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2004 A, Ref. GO Bonds (INS - AMBAC)<sup>(f)(g)</sup> <br>| 5.50% | 08/01/2030 | $960 | &nbsp;&nbsp; $1063865 |
| &nbsp;&nbsp;&nbsp; Series 2023, GO Bonds<sup>(f)</sup> <br>| 5.00% | 10/01/2053 | 10000 | &nbsp;&nbsp; 10141949 |
| &nbsp;&nbsp;&nbsp; Series 2025, GO Bonds<sup>(f)</sup> <br>| 5.00% | 05/01/2053 | 10020 | &nbsp;&nbsp; 10156587 |
| &nbsp;&nbsp;&nbsp; Massachusetts (Commonwealth of) Development Finance Agency (Massachusetts Institute of <br> Technology); Series 2002 K, RB<sup>(f)</sup> <br>| 5.50% | 07/01/2032 | 505 | &nbsp;&nbsp; 588467 |
| &nbsp;&nbsp;&nbsp; Massachusetts (Commonwealth of) Development Finance Agency (Newbridge Charles, Inc.); <br> Series 2017, Ref. RB<sup>(d)</sup> <br>| 5.00% | 10/01/2057 | 1000 | &nbsp;&nbsp; 895261 |
|  |  |  |  | &nbsp;&nbsp; 22846129 |
| **Michigan–0.41%** | **Michigan–0.41%** | **Michigan–0.41%** | **Michigan–0.41%** | **Michigan–0.41%** |
| Charyl Stockwell Academy; Series 2015, Ref. RB | 5.75% | 10/01/2045 | 635 | &nbsp;&nbsp; 563126 |
| Michigan Strategic Fund; Series 2016, RB | 5.00% | 07/01/2046 | 2705 | &nbsp;&nbsp; 603215 |
|  |  |  |  | &nbsp;&nbsp; 1166341 |
| **Minnesota–1.06%** | **Minnesota–1.06%** | **Minnesota–1.06%** | **Minnesota–1.06%** | **Minnesota–1.06%** |
| Ramsey (City of), MN (Pact Charter School); Series 2022 A, Ref. RB | 5.00% | 06/01/2032 | 1500 | &nbsp;&nbsp; 1454996 |
| Rochester (City of), MN (Homestead at Rochester, Inc.); Series 2013 A, RB | 6.88% | 12/01/2048 | 1000 | &nbsp;&nbsp; 1000333 |
| &nbsp;&nbsp;&nbsp; St. Paul (City of), MN Housing & Redevelopment Authority (Higher Ground Academy); Series 2023, <br> Ref. RB<br>| 5.50% | 12/01/2038 | 545 | &nbsp;&nbsp; 555335 |
|  |  |  |  | &nbsp;&nbsp; 3010664 |
| **Missouri–3.09%** | **Missouri–3.09%** | **Missouri–3.09%** | **Missouri–3.09%** | **Missouri–3.09%** |
| Branson Hills Infrastructure Facilities Community Improvement District; Series 2007 A, RB<sup>(m)</sup> <br>| 5.50% | 04/01/2027 | 608 | &nbsp;&nbsp; 206610 |
| Kirkwood (City of), MO Industrial Development Authority (Aberdeen Heights); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2017 A, Ref. RB | 5.25% | 05/15/2037 | 2250 | &nbsp;&nbsp; 2148894 |
| &nbsp;&nbsp;&nbsp; Series 2017 A, Ref. RB | 5.25% | 05/15/2050 | 1250 | &nbsp;&nbsp; 1038379 |
| Lee's Summit (City of), MO Industrial Development Authority (John Knox Village); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016 A, RB | 5.00% | 08/15/2046 | 2000 | &nbsp;&nbsp; 1727748 |
| &nbsp;&nbsp;&nbsp; Series 2018 A, Ref. RB | 5.00% | 08/15/2042 | 855 | &nbsp;&nbsp; 776810 |
| Missouri (State of) Development Finance Board (St. Louis Zoo); Series 2022, RB<sup>(f)</sup> <br>| 5.13% | 05/01/2052 | 1500 | &nbsp;&nbsp; 1504031 |
| &nbsp;&nbsp;&nbsp; St. Louis (County of), MO Industrial Development Authority (Friendship Village West County); <br> Series 2018 A, RB<br>| 5.13% | 09/01/2049 | 1500 | &nbsp;&nbsp; 1392580 |
|  |  |  |  | &nbsp;&nbsp; 8795052 |
| **Nevada–1.78%** | **Nevada–1.78%** | **Nevada–1.78%** | **Nevada–1.78%** | **Nevada–1.78%** |
| &nbsp;&nbsp;&nbsp; Nevada (State of) Department of Business & Industry (Brightline West Passenger Rail) (Green Bonds); <br> Series 2025, RB<sup>(d)(e)(k)</sup> <br>| 9.50% | 01/01/2033 | 3000 | &nbsp;&nbsp; 2862763 |
| &nbsp;&nbsp;&nbsp; North Las Vegas (City of), NV Special Improvement District No. 66 (Villages at Tule Springs Village 1); <br> Series 2022, RB<sup>(d)</sup> <br>| 5.75% | 06/01/2047 | 1550 | &nbsp;&nbsp; 1539203 |
| Reno (City of), NV (ReTRAC - Reno Transportation Rail Access Corridor); Series 2018 C, Ref. RB<sup>(d)(h)</sup> <br>| 0.00% | 07/01/2058 | 4500 | &nbsp;&nbsp; 666660 |
|  |  |  |  | &nbsp;&nbsp; 5068626 |
| **New Hampshire–0.35%** | **New Hampshire–0.35%** | **New Hampshire–0.35%** | **New Hampshire–0.35%** | **New Hampshire–0.35%** |
| New Hampshire (State of) Business Finance Authority (Social Bonds); Series 2022-2A, RB | 4.00% | 10/20/2036 | 1061 | &nbsp;&nbsp; 998549 |
| **New Jersey–3.60%** | **New Jersey–3.60%** | **New Jersey–3.60%** | **New Jersey–3.60%** | **New Jersey–3.60%** |
| New Jersey (State of) Economic Development Authority (Continental Airlines, Inc.); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 1999, RB<sup>(e)</sup> <br>| 5.25% | 09/15/2029 | 855 | &nbsp;&nbsp; 855237 |
| &nbsp;&nbsp;&nbsp; Series 2012, RB<sup>(e)</sup> <br>| 5.75% | 09/15/2027 | 805 | &nbsp;&nbsp; 805576 |
| &nbsp;&nbsp;&nbsp; New Jersey (State of) Economic Development Authority (Leap Academy University Charter School, <br> Inc.); Series 2014 A, RB<sup>(d)</sup> <br>| 6.30% | 10/01/2049 | 1200 | &nbsp;&nbsp; 1200375 |
| &nbsp;&nbsp;&nbsp; New Jersey (State of) Housing & Mortgage Finance Agency (Riverview Towers Apartments); <br> Series 2024, RB (CEP - Federal Housing Administration)<br>| 5.25% | 12/20/2065 | 2250 | &nbsp;&nbsp; 2280636 |
| New Jersey (State of) Transportation Trust Fund Authority; Series 2023, RB<sup>(f)(i)</sup> <br>| 5.25% | 06/15/2050 | 5000 | &nbsp;&nbsp; 5110474 |
|  |  |  |  | &nbsp;&nbsp; 10252298 |
| **New York–8.49%** | **New York–8.49%** | **New York–8.49%** | **New York–8.49%** | **New York–8.49%** |
| Brooklyn Arena Local Development Corp. (Barclays Center); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2009, RB<sup>(h)</sup> <br>| 0.00% | 07/15/2035 | 1475 | &nbsp;&nbsp; 948617 |
| &nbsp;&nbsp;&nbsp; Series 2009, RB<sup>(h)</sup> <br>| 0.00% | 07/15/2046 | 10000 | &nbsp;&nbsp; 3242409 |
| Nassau (County of), NY Industrial Development Agency<sup>(h)</sup> <br>| 0.00% | 01/01/2058 | 1479 | &nbsp;&nbsp; 15 |

---

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

**Invesco Municipal Income Opportunities Trust**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **New York–(continued)** | **New York–(continued)** | **New York–(continued)** | **New York–(continued)** | **New York–(continued)** |
| New York (City of), NY Transitional Finance Authority; Series 2022, RB<sup>(f)</sup> <br>| 5.25% | 11/01/2048 | $5000 | &nbsp;&nbsp; $5150946 |
| New York (State of) Dormitory Authority; Series 2018 E, RB<sup>(f)</sup> <br>| 5.00% | 03/15/2046 | 2250 | &nbsp;&nbsp; 2265408 |
| New York Counties Tobacco Trust IV; Series 2010 A, RB<sup>(d)</sup> <br>| 6.25% | 06/01/2041 | 982 | &nbsp;&nbsp; 941809 |
| New York Counties Tobacco Trust V; Series 2005 S-2, RB<sup>(h)</sup> <br>| 0.00% | 06/01/2050 | 8100 | &nbsp;&nbsp; 1199544 |
| New York Counties Tobacco Trust VI; Series 2016 A-1, Ref. RB | 5.75% | 06/01/2043 | 2000 | &nbsp;&nbsp; 1936876 |
| New York Liberty Development Corp. (3 World Trade Center); Series 2014-3, Ref. RB<sup>(d)</sup> <br>| 7.25% | 11/15/2044 | 3000 | &nbsp;&nbsp; 3001661 |
| &nbsp;&nbsp;&nbsp; New York Transportation Development Corp. (LaGuardia Airport Terminal B Redevelopment); <br> Series 2016 A, RB<sup>(e)(f)(i)</sup> <br>| 5.00% | 07/01/2046 | 1750 | &nbsp;&nbsp; 1703243 |
| &nbsp;&nbsp;&nbsp; New York Transportation Development Corp. (Terminal 4 JFK International Airport) (Green Bonds); <br> Series 2024, Ref. RB<sup>(e)</sup> <br>| 5.50% | 12/31/2060 | 1000 | &nbsp;&nbsp; 1004873 |
| TSASC, Inc.; Series 2016 B, Ref. RB | 5.00% | 06/01/2045 | 2000 | &nbsp;&nbsp; 1764623 |
| &nbsp;&nbsp;&nbsp; Westchester (County of), NY Industrial Development Agency (Million Air Two LLC General Aviation <br> Facilities); Series 2017 A, RB<sup>(d)(e)</sup> <br>| 7.00% | 06/01/2046 | 1000 | &nbsp;&nbsp; 1036867 |
|  |  |  |  | &nbsp;&nbsp; 24196891 |
| **North Carolina–0.39%** | **North Carolina–0.39%** | **North Carolina–0.39%** | **North Carolina–0.39%** | **North Carolina–0.39%** |
| North Carolina (State of) Medical Care Commission (Salemtowne Project); Series 2018 A, RB | 5.00% | 10/01/2043 | 1260 | &nbsp;&nbsp; 1098654 |
| **Ohio–3.66%** | **Ohio–3.66%** | **Ohio–3.66%** | **Ohio–3.66%** | **Ohio–3.66%** |
| Buckeye Tobacco Settlement Financing Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2020 B-2, Ref. RB | 5.00% | 06/01/2055 | 1750 | &nbsp;&nbsp; 1516530 |
| &nbsp;&nbsp;&nbsp; Series 2020 B-3, Ref. RB<sup>(h)</sup> <br>| 0.00% | 06/01/2057 | 11600 | &nbsp;&nbsp; 1116878 |
| Cuyahoga (County of), OH (MetroHealth System); Series 2017, Ref. RB | 5.00% | 02/15/2052 | 2000 | &nbsp;&nbsp; 1834926 |
| Franklin (County of), OH (Wesley Communities); Series 2020, Ref. RB | 5.25% | 11/15/2055 | 1500 | &nbsp;&nbsp; 1310807 |
| Muskingum (County of), OH (Genesis Healthcare System); Series 2013, RB | 5.00% | 02/15/2044 | 3075 | &nbsp;&nbsp; 2903323 |
| Ohio (State of) Air Quality Development Authority (AMG Vanadium Project); Series 2019, RB<sup>(d)(e)</sup> <br>| 5.00% | 07/01/2049 | 2000 | &nbsp;&nbsp; 1754372 |
|  |  |  |  | &nbsp;&nbsp; 10436836 |
| **Oklahoma–0.00%** | **Oklahoma–0.00%** | **Oklahoma–0.00%** | **Oklahoma–0.00%** | **Oklahoma–0.00%** |
| &nbsp;&nbsp;&nbsp; Payne (County of), OK Economic Development Authority (Epworth Living at the Ranch); Series 2016 <br> A, RB<sup>(b)</sup> <br>| 7.00% | 11/01/2051 | 665 | &nbsp;&nbsp; 2296 |
| **Pennsylvania–5.20%** | **Pennsylvania–5.20%** | **Pennsylvania–5.20%** | **Pennsylvania–5.20%** | **Pennsylvania–5.20%** |
| &nbsp;&nbsp;&nbsp; Pennsylvania (Commonwealth of) Economic Development Financing Authority (Penndot Major <br> Bridges); Series 2022, RB<sup>(e)</sup> <br>| 6.00% | 06/30/2061 | 1250 | &nbsp;&nbsp; 1298179 |
| Philadelphia (City of), PA Authority for Industrial Development (Children's Hospital of Philadelphia); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024, RB | 5.25% | 07/01/2049 | 7000 | &nbsp;&nbsp; 7278894 |
| &nbsp;&nbsp;&nbsp; Series 2024, RB | 5.50% | 07/01/2053 | 3000 | &nbsp;&nbsp; 3166451 |
| &nbsp;&nbsp;&nbsp; Philadelphia (City of), PA Authority for Industrial Development (St. Joseph's University); <br> Series 2022, RB<br>| 5.50% | 11/01/2060 | 3000 | &nbsp;&nbsp; 3070675 |
|  |  |  |  | &nbsp;&nbsp; 14814199 |
| **Puerto Rico–7.09%** | **Puerto Rico–7.09%** | **Puerto Rico–7.09%** | **Puerto Rico–7.09%** | **Puerto Rico–7.09%** |
| Children's Trust Fund; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2002, RB | 5.50% | 05/15/2039 | 305 | &nbsp;&nbsp; 307942 |
| &nbsp;&nbsp;&nbsp; Series 2002, RB | 5.63% | 05/15/2043 | 1000 | &nbsp;&nbsp; 1011509 |
| &nbsp;&nbsp;&nbsp; Series 2005 A, RB<sup>(h)</sup> <br>| 0.00% | 05/15/2050 | 27000 | &nbsp;&nbsp; 4920853 |
| Puerto Rico (Commonwealth of); Subseries 2022, RN<sup>(h)</sup> <br>| 0.00% | 11/01/2043 | 3190 | &nbsp;&nbsp; 1917987 |
| Puerto Rico (Commonwealth of) Electric Power Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2007 TT, RB<sup>(b)</sup> <br>| 5.00% | 07/01/2037 | 495 | &nbsp;&nbsp; 271631 |
| &nbsp;&nbsp;&nbsp; Series 2007 VV, Ref. RB (INS - NATL)<sup>(g)</sup> <br>| 5.25% | 07/01/2035 | 1000 | &nbsp;&nbsp; 965426 |
| &nbsp;&nbsp;&nbsp; Puerto Rico (Commonwealth of) Industrial, Tourist, Educational, Medical & Environmental Control <br> Facilities Financing Authority (AES Puerto Rico);<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2023 A, RB (Acquired 01/08/2020-03/25/2024; Cost $94,206)<sup>(c)</sup> <br>| 6.63% | 01/01/2027 | 81 | &nbsp;&nbsp; 80684 |
| &nbsp;&nbsp;&nbsp; Series 2023 A, RB (Acquired 01/08/2020-03/25/2024; Cost $739,741)<sup>(c)</sup> <br>| 6.63% | 01/01/2028 | 622 | &nbsp;&nbsp; 613373 |
| Puerto Rico Sales Tax Financing Corp.; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2018 A-1, RB<sup>(h)</sup> <br>| 0.00% | 07/01/2046 | 24150 | &nbsp;&nbsp; 7752978 |
| &nbsp;&nbsp;&nbsp; Series 2018 A-1, RB<sup>(h)</sup> <br>| 0.00% | 07/01/2051 | 10062 | &nbsp;&nbsp; 2375392 |
|  |  |  |  | &nbsp;&nbsp; 20217775 |

---

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

**Invesco Municipal Income Opportunities Trust**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **South Carolina–1.12%** | **South Carolina–1.12%** | **South Carolina–1.12%** | **South Carolina–1.12%** | **South Carolina–1.12%** |
| &nbsp;&nbsp;&nbsp; South Carolina (State of) Jobs-Economic Development Authority (High Point Academy Project); <br> Series 2018 A, RB<sup>(d)</sup> <br>| 5.75% | 06/15/2039 | $1500 | &nbsp;&nbsp; $1368086 |
| &nbsp;&nbsp;&nbsp; South Carolina (State of) Jobs-Economic Development Authority (South Carolina Episcopal Home at <br> Still Hopes); Series 2018 A, Ref. RB<br>| 5.00% | 04/01/2048 | 2000 | &nbsp;&nbsp; 1820627 |
|  |  |  |  | &nbsp;&nbsp; 3188713 |
| **Tennessee–2.94%** | **Tennessee–2.94%** | **Tennessee–2.94%** | **Tennessee–2.94%** | **Tennessee–2.94%** |
| Bristol (City of), TN Industrial Development Board (Pinnacle); Series 2016, RB | 5.63% | 06/01/2035 | 1000 | &nbsp;&nbsp; 893377 |
| Knox (County of) & Knoxville (City of), TN City Sports Authority; Series 2024, RB<sup>(f)</sup> <br>| 6.00% | 12/01/2054 | 5000 | &nbsp;&nbsp; 5439317 |
| Shelby (County of), TN Health, Educational & Housing Facilities Board (Trezevant Manor); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2013 A, Ref. RB<sup>(d)</sup> <br>| 5.50% | 09/01/2047 | 1600 | &nbsp;&nbsp; 1355649 |
| &nbsp;&nbsp;&nbsp; Series 2016 A, Ref. RB<sup>(d)</sup> <br>| 5.00% | 09/01/2031 | 750 | &nbsp;&nbsp; 690212 |
|  |  |  |  | &nbsp;&nbsp; 8378555 |
| **Texas–8.92%** | **Texas–8.92%** | **Texas–8.92%** | **Texas–8.92%** | **Texas–8.92%** |
| Arlington Higher Education Finance Corp. (Cypress Christian School); Series 2024, RB<sup>(d)</sup> <br>| 5.75% | 06/01/2043 | 1500 | &nbsp;&nbsp; 1501974 |
| &nbsp;&nbsp;&nbsp; Brazoria County Industrial Development Corp. (Gladieux Metals Recycling LLC); Series 2019, RB <br> (Acquired 12/17/2019; Cost $1,207,286)<sup>(b)(c)(e)</sup> <br>| 7.00% | 03/01/2039 | 1160 | &nbsp;&nbsp; 928000 |
| Houston (City of), TX Airport System (Continental Airlines, Inc.); Series 2011 A, Ref. RB<sup>(e)</sup> <br>| 6.63% | 07/15/2038 | 1000 | &nbsp;&nbsp; 1002129 |
| Hutto (City of), TX; Series 2025, RB<sup>(d)</sup> <br>| 5.13% | 09/01/2045 | 300 | &nbsp;&nbsp; 282199 |
| Mission Economic Development Corp. (Natgasoline); Series 2018, Ref. RB<sup>(d)(e)</sup> <br>| 4.63% | 10/01/2031 | 1500 | &nbsp;&nbsp; 1498361 |
| New Hope Cultural Education Facilities Finance Corp.; Series 2025 A, RB | 6.50% | 10/01/2060 | 1000 | &nbsp;&nbsp; 955630 |
| &nbsp;&nbsp;&nbsp; New Hope Cultural Education Facilities Finance Corp. (Carillon Lifecare Community); Series 2016, <br> Ref. RB<br>| 5.00% | 07/01/2036 | 600 | &nbsp;&nbsp; 594190 |
| New Hope Cultural Education Facilities Finance Corp. (MRC Senior Living-The Langford); |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016 A, RB | 5.50% | 11/15/2046 | 400 | &nbsp;&nbsp; 313286 |
| &nbsp;&nbsp;&nbsp; Series 2016 A, RB | 5.50% | 11/15/2052 | 1500 | &nbsp;&nbsp; 1120601 |
| New Hope Cultural Education Facilities Finance Corp. (Outlook at Windhaven (The)); Series 2022, RB | 5.50% | 10/01/2027 | 945 | &nbsp;&nbsp; 945034 |
| North Texas Tollway Authority; Series 2011 B, RB<sup>(h)(k)(l)</sup> <br>| 0.00% | 09/01/2031 | 7000 | &nbsp;&nbsp; 3598622 |
| Port Beaumont Navigation District (Jefferson Gulf Coast Energy); Series 2024, RB<sup>(d)(e)</sup> <br>| 5.00% | 01/01/2039 | 1000 | &nbsp;&nbsp; 968091 |
| Rowlett (City of), TX (Bayside Public Improvement District North Improvement Area); Series 2016, RB | 6.00% | 09/15/2046 | 450 | &nbsp;&nbsp; 438836 |
| San Antonio (City of), TX; Series 2023 A, Ref. RB<sup>(f)</sup> <br>| 5.50% | 02/01/2050 | 5750 | &nbsp;&nbsp; 6074529 |
| &nbsp;&nbsp;&nbsp; Tarrant County Cultural Education Facilities Finance Corp. (Buckner Senior Living - Ventana); <br> Series 2017, RB<br>| 6.75% | 11/15/2052 | 1000 | &nbsp;&nbsp; 1012046 |
| &nbsp;&nbsp;&nbsp; Tarrant County Cultural Education Facilities Finance Corp. (C.C. Young Memorial Home); Series 2017 <br> A, RB (Acquired 12/15/2016; Cost $1,004,781)<sup>(b)(c)</sup> <br>| 6.38% | 02/15/2052 | 1000 | &nbsp;&nbsp; 650000 |
| &nbsp;&nbsp;&nbsp; Tarrant County Cultural Education Facilities Finance Corp. (Stayton at Museum Way (The)); <br> Series 2024 A, RB<br>| 5.75% | 12/01/2054 | 659 | &nbsp;&nbsp; 550944 |
| Texas (State of) Water Development Board; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2022, RB<sup>(f)</sup> <br>| 4.80% | 10/15/2052 | 2000 | &nbsp;&nbsp; 1971977 |
| &nbsp;&nbsp;&nbsp; Series 2022, RB<sup>(f)</sup> <br>| 5.00% | 10/15/2057 | 1000 | &nbsp;&nbsp; 1013263 |
|  |  |  |  | &nbsp;&nbsp; 25419712 |
| **Utah–2.03%** | **Utah–2.03%** | **Utah–2.03%** | **Utah–2.03%** | **Utah–2.03%** |
| Salt Lake City (City of), UT; Series 2017 A, RB<sup>(e)(f)</sup> <br>| 5.00% | 07/01/2047 | 3000 | &nbsp;&nbsp; 2946205 |
| Utah (State of) Charter School Finance Authority (Wallace Stegner Academy); Series 2022 A, RB<sup>(d)</sup> <br>| 5.75% | 06/15/2052 | 3000 | &nbsp;&nbsp; 2850598 |
|  |  |  |  | &nbsp;&nbsp; 5796803 |
| **Virginia–0.71%** | **Virginia–0.71%** | **Virginia–0.71%** | **Virginia–0.71%** | **Virginia–0.71%** |
| Ballston Quarter Community Development Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016 A-1, RB | 5.50% | 03/01/2046 | 376 | &nbsp;&nbsp; 369124 |
| &nbsp;&nbsp;&nbsp; Series 2016 A-2, RB<sup>(j)</sup> <br>| 7.13% | 03/01/2059 | 902 | &nbsp;&nbsp; 764333 |
| Tobacco Settlement Financing Corp.; Series 2007 B-2, RB | 5.20% | 06/01/2046 | 1000 | &nbsp;&nbsp; 895353 |
|  |  |  |  | &nbsp;&nbsp; 2028810 |
| **Washington–2.28%** | **Washington–2.28%** | **Washington–2.28%** | **Washington–2.28%** | **Washington–2.28%** |
| King (County of), WA Public Hospital District No. 4; Series 2015 A, RB | 6.25% | 12/01/2045 | 1000 | &nbsp;&nbsp; 986971 |
| Washington (State of) Convention Center Public Facilities District; Series 2018, RB<sup>(f)(i)</sup> <br>| 5.00% | 07/01/2058 | 3225 | &nbsp;&nbsp; 3039531 |
| &nbsp;&nbsp;&nbsp; Washington (State of) Housing Finance Commission (Heron's Key Senior Living); Series 2015 A, <br> RB<sup>(d)(k)(l)</sup> <br>| 7.00% | 07/01/2025 | 740 | &nbsp;&nbsp; 741872 |

---

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

**Invesco Municipal Income Opportunities Trust**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Washington–(continued)** | **Washington–(continued)** | **Washington–(continued)** | **Washington–(continued)** | **Washington–(continued)** | **Washington–(continued)** |
| &nbsp;&nbsp;&nbsp; Washington (State of) Housing Finance Commission (Presbyterian Retirement Communities <br> Northwest); Series 2016 A, Ref. RB<sup>(d)</sup> <br>| 5.00% | 01/01/2051 |  | $2000 | &nbsp;&nbsp; $1739813 |
|  |  |  |  |  | &nbsp;&nbsp; 6508187 |
| **West Virginia–0.97%** | **West Virginia–0.97%** | **West Virginia–0.97%** | **West Virginia–0.97%** | **West Virginia–0.97%** | **West Virginia–0.97%** |
| &nbsp;&nbsp;&nbsp; Harrison (County of), WV County Commission (Charles Pointe Economic Opportunity Development <br> District); Series 2019 A, RB<sup>(b)(d)(m)</sup> <br>| 5.75% | 06/01/2042 |  | 1495 | &nbsp;&nbsp; 1033381 |
| &nbsp;&nbsp;&nbsp; Monongalia (County of), WV Commission Special District (University Town Centre Economic <br> Opportunity Development District); Series 2017 A, Ref. RB<sup>(d)</sup> <br>| 5.75% | 06/01/2043 |  | 1000 | &nbsp;&nbsp; 1005533 |
| West Virginia (State of) Economic Development Authority (Entsorga West Virginia LLC); |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016, RB<sup>(b)(d)(e)</sup> <br>| 7.25% | 02/01/2036 |  | 750 | &nbsp;&nbsp; 525000 |
| &nbsp;&nbsp;&nbsp; Series 2018, RB<sup>(b)(d)(e)</sup> <br>| 8.75% | 02/01/2036 |  | 240 | &nbsp;&nbsp; 192000 |
|  |  |  |  |  | &nbsp;&nbsp; 2755914 |
| **Wisconsin–5.37%** | **Wisconsin–5.37%** | **Wisconsin–5.37%** | **Wisconsin–5.37%** | **Wisconsin–5.37%** | **Wisconsin–5.37%** |
| Wisconsin (State of) Public Finance Authority; |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2023 A, Ref. RB<sup>(d)</sup> <br>| 6.25% | 10/01/2053 |  | 1000 | &nbsp;&nbsp; 1013727 |
| &nbsp;&nbsp;&nbsp; Series 2023 B, RB<sup>(d)(h)</sup> <br>| 0.00% | 07/01/2062 |  | 2000 | &nbsp;&nbsp; 1455000 |
| &nbsp;&nbsp;&nbsp; Wisconsin (State of) Public Finance Authority (Alabama Proton Therapy Center); Series 2017 A, RB <br> (Acquired 12/01/2017; Cost $1,965,676)<sup>(b)(c)(d)</sup> <br>| 6.85% | 10/01/2047 |  | 2000 | &nbsp;&nbsp; 200000 |
| Wisconsin (State of) Public Finance Authority (Coral Academy of Science Reno); Series 2022, RB<sup>(d)</sup> <br>| 5.88% | 06/01/2052 |  | 900 | &nbsp;&nbsp; 851919 |
| &nbsp;&nbsp;&nbsp; Wisconsin (State of) Public Finance Authority (Delray Beach Radiation Therapy Center); Series 2017 <br> A, RB (Acquired 04/03/2017; Cost $982,664)<sup>(b)(c)(d)</sup> <br>| 6.85% | 11/01/2046 |  | 1000 | &nbsp;&nbsp; 550000 |
| Wisconsin (State of) Public Finance Authority (Explore Academy); Series 2018 A, RB<sup>(d)</sup> <br>| 6.13% | 02/01/2048 |  | 1170 | &nbsp;&nbsp; 1142184 |
| &nbsp;&nbsp;&nbsp; Wisconsin (State of) Public Finance Authority (Maryland Proton Treatment Center); Series 2018 A-1, <br> RB<sup>(d)</sup> <br>| 6.25% | 01/01/2038 |  | 1000 | &nbsp;&nbsp; 450000 |
| Wisconsin (State of) Public Finance Authority (Midtown); Series 2025, RB<sup>(d)(h)</sup> <br>| 0.00% | 12/15/2034 |  | 3750 | &nbsp;&nbsp; 2094418 |
| &nbsp;&nbsp;&nbsp; Wisconsin (State of) Public Finance Authority (Million Air Two LLC General Aviation Facilities); <br> Series 2017 A, RB<sup>(e)</sup> <br>| 7.25% | 06/01/2035 |  | 2500 | &nbsp;&nbsp; 2611766 |
| Wisconsin (State of) Public Finance Authority (Quality Education Academy); Series 2023, RB<sup>(d)</sup> <br>| 6.25% | 07/15/2053 |  | 475 | &nbsp;&nbsp; 487354 |
| &nbsp;&nbsp;&nbsp; Wisconsin (State of) Public Finance Authority (Roseman University of Health Sciences); Series 2015, <br> Ref. RB<br>| 5.88% | 04/01/2045 |  | 660 | &nbsp;&nbsp; 653027 |
| Wisconsin (State of) Public Finance Authority (Signorelli); Series 2024, RB<sup>(d)</sup> <br>| 5.38% | 12/15/2032 |  | 1202 | &nbsp;&nbsp; 1201890 |
| Wisconsin (State of) Public Finance Authority (Two Step); Series 2024, RB<sup>(d)(h)</sup> <br>| 0.00% | 12/15/2034 |  | 1500 | &nbsp;&nbsp; 845456 |
| Wisconsin (State of) Public Finance Authority (Uwharrie Charter Academy); Series 2022 A, RB<sup>(d)</sup> <br>| 5.00% | 06/15/2057 |  | 2000 | &nbsp;&nbsp; 1759503 |
|  |  |  |  |  | &nbsp;&nbsp; 15316244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Municipal Obligations (Cost $417,832,587) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Municipal Obligations (Cost $417,832,587) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Municipal Obligations (Cost $417,832,587) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Municipal Obligations (Cost $417,832,587) |  | &nbsp;&nbsp; 402944036 |
| **U.S. Dollar Denominated Bonds & Notes–0.05%** | **U.S. Dollar Denominated Bonds & Notes–0.05%** | **U.S. Dollar Denominated Bonds & Notes–0.05%** | **U.S. Dollar Denominated Bonds & Notes–0.05%** | **U.S. Dollar Denominated Bonds & Notes–0.05%** | **U.S. Dollar Denominated Bonds & Notes–0.05%** |
| **Puerto Rico–0.01%** | **Puerto Rico–0.01%** | **Puerto Rico–0.01%** | **Puerto Rico–0.01%** | **Puerto Rico–0.01%** | **Puerto Rico–0.01%** |
| AES Puerto Rico, Inc.<sup>(m)</sup> <br>| 12.50% | 03/04/2026 |  | 20 | &nbsp;&nbsp; 19664 |
| **Texas–0.04%** | **Texas–0.04%** | **Texas–0.04%** | **Texas–0.04%** | **Texas–0.04%** | **Texas–0.04%** |
| Gladieux Metals Recycling LLC | 15.00% | 05/08/2026 |  | 125 | &nbsp;&nbsp; 120000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Dollar Denominated Bonds & Notes (Cost $140,394) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Dollar Denominated Bonds & Notes (Cost $140,394) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Dollar Denominated Bonds & Notes (Cost $140,394) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Dollar Denominated Bonds & Notes (Cost $140,394) |  | &nbsp;&nbsp; 139664 |
|  |  |  | **Shares** | **Shares** |  |
| **Preferred Stocks–0.00%** | **Preferred Stocks–0.00%** | **Preferred Stocks–0.00%** | **Preferred Stocks–0.00%** | **Preferred Stocks–0.00%** | **Preferred Stocks–0.00%** |
| &nbsp;&nbsp;&nbsp; AES Puerto Rico, Inc., Pfd. <br>(Cost $0)<sup>(m)</sup> <br>|  |  |  | 13681 | &nbsp;&nbsp; 0 |
| TOTAL INVESTMENTS IN SECURITIES<sup>(n)</sup>–141.38% (Cost $417,972,981) | TOTAL INVESTMENTS IN SECURITIES<sup>(n)</sup>–141.38% (Cost $417,972,981) | TOTAL INVESTMENTS IN SECURITIES<sup>(n)</sup>–141.38% (Cost $417,972,981) | TOTAL INVESTMENTS IN SECURITIES<sup>(n)</sup>–141.38% (Cost $417,972,981) |  | &nbsp;&nbsp; 403083700 |
| FLOATING RATE NOTE OBLIGATIONS–(43.38)% | FLOATING RATE NOTE OBLIGATIONS–(43.38)% | FLOATING RATE NOTE OBLIGATIONS–(43.38)% | FLOATING RATE NOTE OBLIGATIONS–(43.38)% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes with interest and fee rates ranging from 2.49% to 2.70% at 05/31/2025 and <br>contractual maturities of collateral ranging from 08/01/2030 to 07/01/2058<sup>(o)</sup> <br>|  |  |  |  | &nbsp;&nbsp; (123680000)<br>|
| OTHER ASSETS LESS LIABILITIES–2.00% | OTHER ASSETS LESS LIABILITIES–2.00% | OTHER ASSETS LESS LIABILITIES–2.00% | OTHER ASSETS LESS LIABILITIES–2.00% |  | &nbsp;&nbsp; 5700635 |
| NET ASSETS–100.00% | NET ASSETS–100.00% | NET ASSETS–100.00% | NET ASSETS–100.00% |  | &nbsp;&nbsp; $285104335 |

---

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

**Invesco Municipal Income Opportunities Trust**

------

Investment Abbreviations:

---

| | |
|:---|:---|
| AGI | – Assured Guaranty Inc. |
| AMBAC | – American Municipal Bond Assurance Corp. |
| CEP | – Credit Enhancement Provider |
| COP | – Certificates of Participation |
| GO | – General Obligation |
| IDR | – Industrial Development Revenue Bonds |
| INS | – Insurer |
| NATL | – National Public Finance Guarantee Corp. |
| Pfd. | – Preferred |
| RB | – Revenue Bonds |
| Ref. | – Refunding |
| RN | – Revenue Notes |

---

Notes to Schedule of Investments:

<sup>(a)</sup> Calculated as a percentage of net assets. Amounts in excess of 100% are due to the Trust's use of leverage.

<sup>(b)</sup> Defaulted security. Currently, the issuer is in default with respect to principal and/or interest payments. The aggregate value of these securities at May 31, 2025 was $7,093,513, which represented 2.49% of the Trust's Net Assets. 

<sup>(c)</sup> Restricted security. The aggregate value of these securities at May 31, 2025 was $6,817,812, which represented 2.39% of the Trust's Net Assets.

<sup>(d)</sup> Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at May 31, 2025 was $68,629,552, which represented 24.07% of the Trust's Net Assets. 

<sup>(e)</sup> Security subject to the alternative minimum tax.

<sup>(f)</sup> Underlying security related to TOB Trusts entered into by the Trust.

<sup>(g)</sup> Principal and/or interest payments are secured by the bond insurance company listed.

<sup>(h)</sup> Zero coupon bond issued at a discount.

<sup>(i)</sup> 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 $45,161,280. However, such shortfall payment would be reduced by the proceeds from the sale of the security underlying the TOB Trusts. 

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

<sup>(k)</sup> Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put.

<sup>(l)</sup> Advance refunded; secured by an escrow fund of U.S. Government obligations or other highly rated collateral.

<sup>(m)</sup> Security valued using significant unobservable inputs (Level 3). See Note 1.

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

<sup>(o)</sup> Floating rate note obligations related to securities held. The interest and fee rates shown reflect the rates in effect at May 31, 2025. At May 31, 2025, the Trust's investments with a value of $165,285,215 are held by TOB Trusts and serve as collateral for the $123,680,000 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 Income Opportunities Trust**

------

**Notes to Quarterly Schedule of Portfolio Holdings**

*May 31, 2025*

*(Unaudited)*

**NOTE 1—Additional Valuation Information**

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

Level 1 – Prices are determined using quoted prices in an active market for identical assets.

Level 2 – Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. When market movements occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.

Level 3 – Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect Invesco Advisers, Inc.'s assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

The following is a summary of the tiered valuation input levels, as of May 31, 2025. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| <br>**Investments in Securities** |  |  |  |  |
| Municipal Obligations | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $401704045 | &nbsp;&nbsp;&nbsp;&nbsp; $1239991 | &nbsp;&nbsp;&nbsp;&nbsp; $402944036 |
| U.S. Dollar Denominated Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 19664 | &nbsp;&nbsp;&nbsp;&nbsp; 139664 |
| Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 401824045 | &nbsp;&nbsp;&nbsp;&nbsp; 1259655 | &nbsp;&nbsp;&nbsp;&nbsp; 403083700 |
| **Other Investments - Assets** |  |  |  |  |
| Investments Matured | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1445745 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1445745 |
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $403269790 | &nbsp;&nbsp;&nbsp;&nbsp; $1259655 | &nbsp;&nbsp;&nbsp;&nbsp; $404529445 |

---

**Invesco Municipal Income Opportunities Trust**

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Invesco Municipal Income Opportunities Trust

- **b. Investment Company Act file number:** 811-05597

- **c. CIK number of Registrant:** 0000835333

- **d. LEI of Registrant:** DJSR2NJ3985722G80Y20

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1331 Spring Street NW, Suite 2500

  - **City:** Atlanta

  - **State:** GA

  - **Foreign country:** US

  - **Zip / Postal Code:** 30309

  - **Telephone number:** 800-959-4246

**Item A.2. Information about the Series.**

- **a. Name of Series:** Invesco Municipal Income Opportunities Trust

- **c. LEI of Series:** DJSR2NJ3985722G80Y20

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-02-28

- **b. Date as of which information is reported:** 2025-05-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $409153474.48

**Total Liabilities:** $123979320.18

**Net Assets:** $285174154.30

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -65.83933917 | **1-Year:** -1174.27834691 | **5-Year:** -6430.84188120 | **10-Year:** -26191.25225551 | **30-Year:** -11059.12271339

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -487.88190629 | **1-Year:** -5451.51151989 | **5-Year:** -20403.16837585 | **10-Year:** -65543.33050051 | **30-Year:** -47821.66224931

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -2.81%               | -1.77%               | -1.15%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-36399.09               | $-9600017.16                               |
| Month 2  | $-1170913.48             | $-5070039.67                               |
| Month 3  | $-1571200.64             | $-3545215.53                               |

**Designated Index Information**

- **Index Name:** 80% S&P Muni Bond High Yield Index, 20% S&P Muni Bond Investment Grade Index

- **Index Identifier:** 100% BM-Securities only

### Schedule of Portfolio Investments

| Name                                                                                                                                             | Title                                                                                                                                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| California (State of) Pollution Control Financing Authority (Plant Bonds)                                                                        | California (State of) Pollution Control Financing Authority (Plant Bonds), Series 2012, RB                                                             | CUSIP: 13054WAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999928.70    | 0.35%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bristol (City of), TN Industrial Development Board (Pinnacle)                                                                                    | Bristol (City of), TN Industrial Development Board (Pinnacle), Series 2016, RB                                                                         | CUSIP: 11023QAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $893377.10    | 0.31%             | 2035-06-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp.                                                                                                            | Puerto Rico Sales Tax Financing Corp., Series 2018 A-1, RB                                                                                             | CUSIP: 74529JQH1<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |  10062000 | PA      | $2375391.68   | 0.83%             | 2051-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Miami-Dade (County of), FL                                                                                                                       | Miami-Dade (County of), FL, Series 2009, RB                                                                                                            | CUSIP: 59333NNM1<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   7900000 | PA      | $3554089.13   | 1.25%             | 2042-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Missouri (State of) Development Finance Board (Kopytek Printing)                                                                                 | Missouri (State of) Development Finance Board (Kopytek Printing), Series 2022, RB                                                                      | CUSIP: 60636VDF1<br>LEI: 549300JD8BCNBV9D3830 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1504030.80   | 0.53%             | 2052-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Children's Trust Fund                                                                                                                            | Children's Trust Fund, Series 2002, RB                                                                                                                 | CUSIP: 16876QBG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011508.70   | 0.35%             | 2043-05-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Puerto Rico (Commonwealth of) Electric Power Authority                                                                                           | Puerto Rico (Commonwealth of) Electric Power Authority, Series 2007 TT, RB                                                                             | CUSIP: 74526QKX9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    495000 | PA      | $271631.25    | 0.10%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp.                                                                                             | New Hope Cultural Education Facilities Finance Corp., Series 2025, RB                                                                                  | CUSIP: 64542UHG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $955630.40    | 0.34%             | 2060-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority (Midtown)                                                                                          | Wisconsin (State of) Public Finance Authority (Midtown), Series 2025, RB                                                                               | CUSIP: 74442PL45<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   3750000 | PA      | $2094418.13   | 0.73%             | 2034-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp. (LaGuardia Airport Terminal B Redevelopment)                                                           | New York Transportation Development Corp. (LaGuardia Airport Terminal B Redevelopment), Series 2016 A, RB                                              | CUSIP: 650116AR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1703243.15   | 0.60%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rowlett (City of), TX (Bayside Public Improvement District North Improvement Area)                                                               | Rowlett (City of), TX (Bayside Public Improvement District North Improvement Area), Series 2016, RB                                                    | CUSIP: 779719AB9<br>LEI: 549300XN25SMDVQJM820 | Long             | DBT              | MUN               | US        |    450000 | PA      | $438835.55    | 0.15%             | 2046-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| North Las Vegas (City of), NV Special Improvement District No. 66 (Villages at Tule Springs Village 1)                                           | North Las Vegas (City of), NV Special Improvement District No. 66 (Villages at Tule Springs Village 1), Series 2022, RB                                | CUSIP: 66041HHP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1539203.17   | 0.54%             | 2047-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp. (Terminal 4 JFK International Airport) (Green Bonds)                                                   | New York Transportation Development Corp. (Terminal 4 JFK International Airport) (Green Bonds), Series 2024, Ref. RB                                   | CUSIP: 650116HW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004873.10   | 0.35%             | 2060-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Harrison (County of), WV County Commission (Charles Pointe Economic Opportunity Development District)                                            | Harrison (County of), WV County Commission (Charles Pointe Economic Opportunity Development District), Series 2019 A, RB                               | CUSIP: 41524TAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1495000 | PA      | $1033381.38   | 0.36%             | 2042-06-01      | Fixed         | 5.75%                 | No            |                  3 | On Loan: No      |
| Lake Helen (City of), FL (Ivy Hawn Charter School of the Arts)                                                                                   | Lake Helen (City of), FL (Ivy Hawn Charter School of the Arts), Series 2018 A, RB                                                                      | CUSIP: 509893AB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1240697.77   | 0.44%             | 2038-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Palisade Metropolitan District No. 2                                                                                                             | Palisade Metropolitan District No. 2, Series 2024, Ref. RB                                                                                             | CUSIP: 696392AD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $459063.80    | 0.16%             | 2054-12-15      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp.                                                                                                        | Golden State Tobacco Securitization Corp., Series 2021 B-2, Ref. RB                                                                                    | CUSIP: 38122NB84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11800000 | PA      | $1270880.06   | 0.45%             | 2066-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Franklin (County of), OH (Wesley Communities)                                                                                                    | Franklin (County of), OH (Wesley Communities), Series 2020, Ref. RB                                                                                    | CUSIP: 353180LL4<br>LEI: 549300VCBUC1RZE7KL42 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1310806.65   | 0.46%             | 2055-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp. (Buckner Senior Living - Ventana)                                                     | Tarrant County Cultural Education Facilities Finance Corp. (Buckner Senior Living - Ventana), Series 2017, RB                                          | CUSIP: 87638RJE8<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012046.10   | 0.35%             | 2052-11-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Monongalia (County of), WV Commission Special District (University Town Centre Economic Opportunity Development District)                        | Monongalia (County of), WV Commission Special District (University Town Centre Economic Opportunity Development District), Series 2017 A, Ref. RB      | CUSIP: 61022CAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005533.10   | 0.35%             | 2043-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Texas (State of) Water Development Board                                                                                                         | Texas (State of) Water Development Board, Series 2022, RB                                                                                              | CUSIP: 88285ABK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013262.60   | 0.36%             | 2057-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina (State of) Medical Care Commission (Salemtowne Project)                                                                           | North Carolina (State of) Medical Care Commission (Salemtowne Project), Series 2018 A, RB                                                              | CUSIP: 65820YPN0<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1098653.60   | 0.39%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Brooklyn Arena Local Development Corp. (Barclays Center)                                                                                         | Brooklyn Arena Local Development Corp. (Barclays Center), Series 2009, RB                                                                              | CUSIP: 113807AV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1475000 | PA      | $948616.46    | 0.33%             | 2035-07-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Salt Lake City (City of), UT                                                                                                                     | Salt Lake City (City of), UT, Series 2017 A, RB                                                                                                        | CUSIP: 795576FY8<br>LEI: 549300CRGKV67DRSGT85 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2946204.60   | 1.03%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Miami-Dade (County of), FL Transit System                                                                                                        | Miami-Dade (County of), FL Transit System, Series 2022, RB                                                                                             | CUSIP: 59334PKZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5020596.50   | 1.76%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois (State of)                                                                                                                              | Illinois (State of), Series 2021 A, GO Bonds                                                                                                           | CUSIP: 452153AW9<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    500000 | PA      | $497605.40    | 0.17%             | 2046-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rochester (City of), MN (Homestead at Rochester, Inc.)                                                                                           | Rochester (City of), MN (Homestead at Rochester, Inc.), Series 2013 A, RB                                                                              | CUSIP: 771906CV4<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000332.80   | 0.35%             | 2048-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Mission Economic Development Corp. (Natgasoline)                                                                                                 | Mission Economic Development Corp. (Natgasoline), Series 2018, Ref. RB                                                                                 | CUSIP: 605156AC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1498361.10   | 0.53%             | 2031-10-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| AES PUERTO RICO Inc.                                                                                                                             | AES PUERTO RICO Inc., Pfd.                                                                                                                             | CUSIP: 902DZT000<br>LEI: N/A                  | Long             | EP               | CORP              | KY        |     13681 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Capital Trust Authority (KIPP Miami N Campus)                                                                                                    | Capital Trust Authority (KIPP Miami N Campus), Series 2024 A, RB                                                                                       | CUSIP: 14054WAQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $655441.09    | 0.23%             | 2054-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Shelby (County of), TN Health, Educational & Housing Facilities Board (Trezevant Manor)                                                          | Shelby (County of), TN Health, Educational & Housing Facilities Board (Trezevant Manor), Series 2016 A, Ref. RB                                        | CUSIP: 821697P94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $690212.40    | 0.24%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Projects Finance Authority/FL                                                                                                            | Capital Projects Finance Authority/FL, Series 2025, RB                                                                                                 | CUSIP: 14043HAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1970095.60   | 0.69%             | 2040-01-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| West Virginia (State of) Economic Development Authority (Entsorga West Virginia LLC)                                                             | West Virginia (State of) Economic Development Authority (Entsorga West Virginia LLC), Series 2018, RB                                                  | CUSIP: 95648VBD0<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |    240000 | PA      | $192000.00    | 0.07%             | 2036-02-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Muskingum (County of), OH (Genesis Healthcare System)                                                                                            | Muskingum (County of), OH (Genesis Healthcare System), Series 2013, RB                                                                                 | CUSIP: 628077CV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3075000 | PA      | $2903322.75   | 1.02%             | 2044-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hamden (Town of), CT (Whitney Center)                                                                                                            | Hamden (Town of), CT (Whitney Center), Series 2022 A, RB                                                                                               | CUSIP: 406802AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1046167.50   | 0.37%             | 2053-01-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Payne (County of), OK Economic Development Authority (Epworth Living at the Ranch)                                                               | Payne (County of), OK Economic Development Authority (Epworth Living at the Ranch), Series 2016 A, RB                                                  | CUSIP: 704387AG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    665467 | PA      | $2295.86      | 0.00%             | 2051-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Washington (State of) Convention Center Public Facilities District                                                                               | Washington (State of) Convention Center Public Facilities District, Series 2018, RB                                                                    | CUSIP: 93976ABJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3225000 | PA      | $3039530.90   | 1.07%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Projects Finance Authority (Kissimmee Charter Academy)                                                                                   | Capital Projects Finance Authority (Kissimmee Charter Academy), Series 2024, RB                                                                        | CUSIP: 14043FAJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $452586.09    | 0.16%             | 2059-06-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority (Coral Academy of Science Reno)                                                                    | Wisconsin (State of) Public Finance Authority (Coral Academy of Science Reno), Series 2022, RB                                                         | CUSIP: 744396HS4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    900000 | PA      | $851918.67    | 0.30%             | 2052-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Ballston Quarter Community Development Authority                                                                                                 | Ballston Quarter Community Development Authority, Series 2016 A-2, RB                                                                                  | CUSIP: 058696AJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    902000 | PA      | $764333.06    | 0.27%             | 2059-03-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Indiana (State of) Finance Authority (Irvington Community School)                                                                                | Indiana (State of) Finance Authority (Irvington Community School), Series 2018 A, Ref. RB                                                              | CUSIP: 45506DP90<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $960973.10    | 0.34%             | 2048-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Kirkwood (City of), MO Industrial Development Authority (Aberdeen Heights)                                                                       | Kirkwood (City of), MO Industrial Development Authority (Aberdeen Heights), Series 2017 A, Ref. RB                                                     | CUSIP: 497609BD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1038379.50   | 0.36%             | 2050-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                                                                                                   | Buckeye Tobacco Settlement Financing Authority, Series 2020 B-3, Ref. RB                                                                               | CUSIP: 118217DA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11600000 | PA      | $1116878.16   | 0.39%             | 2057-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| California (State of) Statewide Financing Authority (Pooled Tobacco Securitization Program)                                                      | California (State of) Statewide Financing Authority (Pooled Tobacco Securitization Program), Series 2006 A, RB                                         | CUSIP: 130923BM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $2481008.00   | 0.87%             | 2046-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority (Central Florida Preparatory School Project)                                                                             | Capital Trust Authority (Central Florida Preparatory School Project), Series 2024, RB                                                                  | CUSIP: 14054WAW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $983809.30    | 0.34%             | 2054-06-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Hillsborough (County of), FL Industrial Development Authority (Baycare Health System)                                                            | Hillsborough (County of), FL Industrial Development Authority (Baycare Health System), Series 2024 C, Ref. RB                                          | CUSIP: 43233KAU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13000000 | PA      | $13454798.50  | 4.72%             | 2049-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Kentucky (Commonwealth of) Public Transportation Infrastructure Authority (Downtown Crossing)                                                    | Kentucky (Commonwealth of) Public Transportation Infrastructure Authority (Downtown Crossing), Series 2013 C, RB                                       | CUSIP: 491397AS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2245622.60   | 0.79%             | 2046-07-01      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Ballston Quarter Community Development Authority                                                                                                 | Ballston Quarter Community Development Authority, Series 2016 A-1, RB                                                                                  | CUSIP: 058696AH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    376000 | PA      | $369123.67    | 0.13%             | 2046-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| St. Louis (County of), MO Industrial Development Authority (Friendship Village West County)                                                      | St. Louis (County of), MO Industrial Development Authority (Friendship Village West County), Series 2018 A, RB                                         | CUSIP: 791524CQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1392580.20   | 0.49%             | 2049-09-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Finance Authority (Villa St. Benedict)                                                                                       | Illinois (State of) Finance Authority (Villa St. Benedict), Series 2015, Ref. RB                                                                       | CUSIP: 45203H3M2<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    775000 | PA      | $775450.43    | 0.27%             | 2043-11-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp. (Brightline Florida Passenger Rail Expansion)                                                                  | Florida Development Finance Corp. (Brightline Florida Passenger Rail Expansion), Series 2024, Ref. RB                                                  | CUSIP: 340618DQ7<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1837651.00   | 0.64%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rudolph Farms Metropolitan District No. 6                                                                                                        | Rudolph Farms Metropolitan District No. 6, Series 2022 A, GO Bonds                                                                                     | CUSIP: 78128QAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1380971.25   | 0.48%             | 2052-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority (Million Air Two LLC General Aviation Facilities)                                                  | Wisconsin (State of) Public Finance Authority (Million Air Two LLC General Aviation Facilities), Series 2017 A, RB                                     | CUSIP: 74446DAA6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2611765.75   | 0.92%             | 2035-06-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Dominion Water & Sanitation District                                                                                                             | Dominion Water & Sanitation District, Series 2022, Ref. RB                                                                                             | CUSIP: 25755AAE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2270000 | PA      | $2273686.93   | 0.80%             | 2052-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Finance Authority (Intrinsic Schools - Belmont School)                                                                       | Illinois (State of) Finance Authority (Intrinsic Schools - Belmont School), Series 2015, RB                                                            | CUSIP: 452022AH9<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001095.10   | 0.35%             | 2045-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority (Delray Beach Radiation Therapy Center)                                                            | Wisconsin (State of) Public Finance Authority (Delray Beach Radiation Therapy Center), Series 2017 A, RB                                               | CUSIP: 74442PDE2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $550000.00    | 0.19%             | 2046-11-01      | Fixed         | 6.85%                 | Yes           |                  2 | On Loan: No      |
| San Antonio (City of), TX                                                                                                                        | San Antonio (City of), TX, Series 2023 A, Ref. RB                                                                                                      | CUSIP: 79625GGT4<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   5750000 | PA      | $6074528.85   | 2.13%             | 2050-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Colorado (State of) Health Facilities Authority (Intermountain Healthcare)                                                                       | Colorado (State of) Health Facilities Authority (Intermountain Healthcare), Series 2022 A, Ref. RB                                                     | CUSIP: 19648FVJ0<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   9900000 | PA      | $8518950.00   | 2.99%             | 2052-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority (Uwharrie Charter Academy)                                                                         | Wisconsin (State of) Public Finance Authority (Uwharrie Charter Academy), Series 2022 A, RB                                                            | CUSIP: 74442EJJ0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1759502.60   | 0.62%             | 2057-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| St. Paul (City of), MN Housing & Redevelopment Authority (Higher Ground Academy)                                                                 | St. Paul (City of), MN Housing & Redevelopment Authority (Higher Ground Academy), Series 2023, Ref. RB                                                 | CUSIP: 852297DT4<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    545000 | PA      | $555335.27    | 0.19%             | 2038-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Cuyahoga (County of), OH (MetroHealth System)                                                                                                    | Cuyahoga (County of), OH (MetroHealth System), Series 2017, Ref. RB                                                                                    | CUSIP: 2322655T1<br>LEI: 549300GHDK9DGLUNJU89 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1834925.80   | 0.64%             | 2052-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana (State of) Finance Authority (University of Evansville)                                                                                  | Indiana (State of) Finance Authority (University of Evansville), Series 2022 A, Ref. RB                                                                | CUSIP: 45470ECB9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3356406.20   | 1.18%             | 2044-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Alachua (County of), FL Health Facilities Authority (Terraces at Bonita Springs)                                                                 | Alachua (County of), FL Health Facilities Authority (Terraces at Bonita Springs), Series 2022 A, Ref. RB                                               | CUSIP: 010685LE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $771415.27    | 0.27%             | 2061-11-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Kirkwood (City of), MO Industrial Development Authority (Aberdeen Heights)                                                                       | Kirkwood (City of), MO Industrial Development Authority (Aberdeen Heights), Series 2017 A, Ref. RB                                                     | CUSIP: 497609BB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2148894.23   | 0.75%             | 2037-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Iowa (State of) Tobacco Settlement Authority                                                                                                     | Iowa (State of) Tobacco Settlement Authority, Series 2021 B-2, Ref. RB                                                                                 | CUSIP: 888805CJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13000000 | PA      | $1919638.50   | 0.67%             | 2065-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Shelby (County of), TN Health, Educational & Housing Facilities Board (Trezevant Manor)                                                          | Shelby (County of), TN Health, Educational & Housing Facilities Board (Trezevant Manor), Series 2013 A, Ref. RB                                        | CUSIP: 821697K81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1355648.80   | 0.48%             | 2047-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts (Commonwealth of)                                                                                                                  | Massachusetts (Commonwealth of), Series 2023 D, GO Bonds                                                                                               | CUSIP: 57582R4F0<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10141949.00  | 3.56%             | 2053-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Finance Authority (Lutheran Communities Obligated Group)                                                                     | Illinois (State of) Finance Authority (Lutheran Communities Obligated Group), Series 2019 A, Ref. RB                                                   | CUSIP: 45204E6F0<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $670000.00    | 0.23%             | 2049-11-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp. (Outlook at Windhaven (The))                                                                | New Hope Cultural Education Facilities Finance Corp. (Outlook at Windhaven (The)), Series 2022, RB                                                     | CUSIP: 64542UGJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    945000 | PA      | $945034.02    | 0.33%             | 2027-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp. (3 World Trade Center)                                                                                        | New York Liberty Development Corp. (3 World Trade Center), Series 2014-3, Ref. RB                                                                      | CUSIP: 649519DD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3001661.10   | 1.05%             | 2044-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Washington (State of) Housing Finance Commission (Heron's Key Senior Living)                                                                     | Washington (State of) Housing Finance Commission (Heron's Key Senior Living), Series 2015 A, RB                                                        | CUSIP: 939783SH0<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    740000 | PA      | $741871.90    | 0.26%             | 2025-07-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp. (MRC Senior Living-The Langford)                                                            | New Hope Cultural Education Facilities Finance Corp. (MRC Senior Living-The Langford), Series 2016 A, RB                                               | CUSIP: 64542UDA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1120601.55   | 0.39%             | 2052-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority (Roseman University of Health Sciences)                                                            | Wisconsin (State of) Public Finance Authority (Roseman University of Health Sciences), Series 2015, Ref. RB                                            | CUSIP: 74442PAU9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    660000 | PA      | $653027.17    | 0.23%             | 2045-04-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Ventura Unified School District                                                                                                                  | Ventura Unified School District, Series 2023, GO Bonds                                                                                                 | CUSIP: 923004TU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3662762.00   | 1.28%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico (Commonwealth of) Industrial, Tourist, Educational, Medical & Environmental Control Facilities Financing Authority (AES Puerto Rico) | Puerto Rico (Commonwealth of) Industrial, Tourist, Educational, Medical & Environmental Control Facilities Financing Authority (AES Puerto Rico), Seri | CUSIP: 74528KAA1<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |     81559 | PA      | $80683.99     | 0.03%             | 2027-01-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority (Alabama Proton Therapy Center)                                                                    | Wisconsin (State of) Public Finance Authority (Alabama Proton Therapy Center), Series 2017 A, RB                                                       | CUSIP: 74442PEV3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $200000.00    | 0.07%             | 2047-10-01      | Fixed         | 6.85%                 | Yes           |                  2 | On Loan: No      |
| Orange (County of), FL Health Facilities Authority (Presbyterian Retirement Communities Obligated Group)                                         | Orange (County of), FL Health Facilities Authority (Presbyterian Retirement Communities Obligated Group), Series 2024, Ref. RB                         | CUSIP: 68450LJC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $940947.40    | 0.33%             | 2054-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Texas Tollway Authority                                                                                                                    | North Texas Tollway Authority, Series 2011 B, RB                                                                                                       | CUSIP: 66285WHD1<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $3598622.30   | 1.26%             | 2031-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Children's Trust Fund                                                                                                                            | Children's Trust Fund, Series 2002, RB                                                                                                                 | CUSIP: 16876QBF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $307942.18    | 0.11%             | 2039-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Pennsylvania (Commonwealth of) Economic Development Financing Authority (Penndot Major Bridges)                                                  | Pennsylvania (Commonwealth of) Economic Development Financing Authority (Penndot Major Bridges), Series 2022, RB                                       | CUSIP: 70868YAY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1298178.88   | 0.46%             | 2061-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Silicon Valley Tobacco Securitization Authority (Santa Clara)                                                                                    | Silicon Valley Tobacco Securitization Authority (Santa Clara), Series 2007 A, RB                                                                       | CUSIP: 82706TAE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $1783205.00   | 0.63%             | 2041-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp. (Stayton at Museum Way (The))                                                         | Tarrant County Cultural Education Facilities Finance Corp. (Stayton at Museum Way (The)), Series 2024 A, RB                                            | CUSIP: 87638RKM8<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    658624 | PA      | $550943.59    | 0.19%             | 2054-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency, Inc. (Tallahassee Tapestry)                                                                                                | Capital Trust Agency, Inc. (Tallahassee Tapestry), Series 2015, RB                                                                                     | CUSIP: 14052WCG0<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    100000 | PA      | $15000.00     | 0.01%             | 2035-12-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Millsboro (Town of), DE (Plantation Lakes Special Development District)                                                                          | Millsboro (Town of), DE (Plantation Lakes Special Development District), Series 2018, Ref. RB                                                          | CUSIP: 601266AD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    997000 | PA      | $926094.56    | 0.32%             | 2048-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Port Beaumont Navigation District (Jefferson Gulf Coast Energy)                                                                                  | Port Beaumont Navigation District (Jefferson Gulf Coast Energy), Series 2024, RB                                                                       | CUSIP: 73360CAP9<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $968091.20    | 0.34%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana (State of) Finance Authority (Irvington Community School)                                                                                | Indiana (State of) Finance Authority (Irvington Community School), Series 2018 A, Ref. RB                                                              | CUSIP: 45506DP82<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $984471.10    | 0.35%             | 2038-07-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Lee (County of), FL Industrial Development Authority (Lee County Community Charter Schools, LLC)                                                 | Lee (County of), FL Industrial Development Authority (Lee County Community Charter Schools, LLC), Series 2012, IDR                                     | CUSIP: 52349KBL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1178751.84   | 0.41%             | 2042-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Philadelphia (City of), PA Authority for Industrial Development (Children's Hospital of Philadelphia)                                            | Philadelphia (City of), PA Authority for Industrial Development (Children's Hospital of Philadelphia), Series 2024, RB                                 | CUSIP: 717901CB6<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3166451.10   | 1.11%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Texas (State of) Water Development Board                                                                                                         | Texas (State of) Water Development Board, Series 2022, RB                                                                                              | CUSIP: 88285ABJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1971976.60   | 0.69%             | 2052-10-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Chaparral Pointe Metropolitan District                                                                                                           | Chaparral Pointe Metropolitan District, Series 2021, GO Bonds                                                                                          | CUSIP: 15941AAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1151725.91   | 0.40%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California (State of) Statewide Financing Authority (Pooled Tobacco Securitization Program)                                                      | California (State of) Statewide Financing Authority (Pooled Tobacco Securitization Program), Series 2002, RB                                           | CUSIP: 130923BH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $765691.05    | 0.27%             | 2043-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Knox (County of), TN & Knoxville (City of), TN Sports Authority (Multi-Use Stadium)                                                              | Knox (County of), TN & Knoxville (City of), TN Sports Authority (Multi-Use Stadium), Series 2023 A, RB                                                 | CUSIP: 499419AV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5439317.00   | 1.91%             | 2054-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| East Bend Metropolitan District                                                                                                                  | East Bend Metropolitan District, Series 2022, GO Bonds                                                                                                 | CUSIP: 27103CAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2455396.84   | 0.86%             | 2052-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency, Inc. (Advantage Academy of Hillsborough)                                                                                   | Capital Trust Agency, Inc. (Advantage Academy of Hillsborough), Series 2019 A, RB                                                                      | CUSIP: 14054CCA5<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   3230000 | PA      | $2910085.30   | 1.02%             | 2049-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern California Tobacco Securitization Authority (San Diego County Asset Securitization Corp.)                                               | Southern California Tobacco Securitization Authority (San Diego County Asset Securitization Corp.), Series 2019, Ref. RB                               | CUSIP: 888804CU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $703520.65    | 0.25%             | 2054-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Iowa (State of) Finance Authority (Northcrest, Inc.)                                                                                             | Iowa (State of) Finance Authority (Northcrest, Inc.), Series 2018 A, RB                                                                                | CUSIP: 46245FAV6<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1125244.87   | 0.39%             | 2038-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts (Commonwealth of) Development Finance Agency (Newbridge Charles, Inc.)                                                             | Massachusetts (Commonwealth of) Development Finance Agency (Newbridge Charles, Inc.), Series 2017, Ref. RB                                             | CUSIP: 57584X4P3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $895261.50    | 0.31%             | 2057-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago (City of), IL Board of Education                                                                                                         | Chicago (City of), IL Board of Education, Series 2022 B, Ref. GO Bonds                                                                                 | CUSIP: 167505YK6<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1665000 | PA      | $1462057.31   | 0.51%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority (Signorelli)                                                                                       | Wisconsin (State of) Public Finance Authority (Signorelli), Series 2024, RB                                                                            | CUSIP: 74447TAF9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1202000 | PA      | $1201889.66   | 0.42%             | 2032-12-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Collier (County of), FL Industrial Development Authority (The Arlington of Naples)                                                               | Collier (County of), FL Industrial Development Authority (The Arlington of Naples), Series 2014 A, RB                                                  | CUSIP: 194638AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    894832 | PA      | $89.48        | 0.00%             | 2049-05-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| California (State of) Statewide Communities Development Authority (Loma Linda University Medical Center)                                         | California (State of) Statewide Communities Development Authority (Loma Linda University Medical Center), Series 2014, RB                              | CUSIP: 13080SEX8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1950958.60   | 0.68%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| American Samoa (Territory of) Economic Development Authority                                                                                     | American Samoa (Territory of) Economic Development Authority, Series 2015 A, Ref. RB                                                                   | CUSIP: 02936TAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $754927.95    | 0.26%             | 2035-09-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Idaho (State of) Health Facilities Authority (Valley Vista Care Corp.)                                                                           | Idaho (State of) Health Facilities Authority (Valley Vista Care Corp.), Series 2017 A, Ref. RB                                                         | CUSIP: 451295YZ6<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1181764.00   | 0.41%             | 2047-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California (State of) Statewide Financing Authority (Pooled Tobacco Securitization Program)                                                      | California (State of) Statewide Financing Authority (Pooled Tobacco Securitization Program), Series 2006 C, RB                                         | CUSIP: 130923BP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  25000000 | PA      | $1589460.00   | 0.56%             | 2055-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York Counties Tobacco Trust VI                                                                                                               | New York Counties Tobacco Trust VI, Series 2016 A-1, Ref. RB                                                                                           | CUSIP: 64945JBC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1936875.80   | 0.68%             | 2043-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Lee's Summit (City of), MO Industrial Development Authority (John Knox Village)                                                                  | Lee's Summit (City of), MO Industrial Development Authority (John Knox Village), Series 2018 A, Ref. RB                                                | CUSIP: 524292BG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    855000 | PA      | $776809.91    | 0.27%             | 2042-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia (City of), PA Authority for Industrial Development (St. Joseph's University)                                                        | Philadelphia (City of), PA Authority for Industrial Development (St. Joseph's University), Series 2022, RB                                             | CUSIP: 71780TBM4<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3070675.20   | 1.08%             | 2060-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts (Commonwealth of) Health & Educational Facilities Authority (Massachusetts Institute of Technology)                                | Massachusetts (Commonwealth of) Health & Educational Facilities Authority (Massachusetts Institute of Technology), Series 2002 K, RB                   | CUSIP: 57585KWD6<br>LEI: 549300MV50RWQFTX5223 | Long             | DBT              | MUN               | US        |    505000 | PA      | $588467.00    | 0.21%             | 2032-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority (Explore Academy)                                                                                  | Wisconsin (State of) Public Finance Authority (Explore Academy), Series 2018 A, RB                                                                     | CUSIP: 74443DCL3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1142184.30   | 0.40%             | 2048-02-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| California (State of) Municipal Finance Authority (Palomar Health)                                                                               | California (State of) Municipal Finance Authority (Palomar Health), Series 2022 A, Ref. COP                                                            | CUSIP: 130493CL1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1261498.88   | 0.44%             | 2052-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York (City of), NY Transitional Finance Authority                                                                                            | New York (City of), NY Transitional Finance Authority, Subseries 2022 D-1, RB                                                                          | CUSIP: 64971X4F2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5150946.00   | 1.81%             | 2048-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority (KIPP Miami N Campus)                                                                                                    | Capital Trust Authority (KIPP Miami N Campus), Series 2024 A, RB                                                                                       | CUSIP: 14054WAR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $807316.88    | 0.28%             | 2060-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority (Maryland Proton Treatment Center)                                                                 | Wisconsin (State of) Public Finance Authority (Maryland Proton Treatment Center), Series 2018 A-1, RB                                                  | CUSIP: 74442PJU0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $450000.00    | 0.16%             | 2038-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| New Jersey (State of) Economic Development Authority (Leap Academy University Charter School, Inc.)                                              | New Jersey (State of) Economic Development Authority (Leap Academy University Charter School, Inc.), Series 2014 A, RB                                 | CUSIP: 645912DT0<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1200375.12   | 0.42%             | 2049-10-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Ritoro Metropolitan District                                                                                                                     | Ritoro Metropolitan District, Series 2025, GO Bonds                                                                                                    | CUSIP: 76778TAT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    658000 | PA      | $644889.28    | 0.23%             | 2057-12-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Manatee (County of), FL                                                                                                                          | Manatee (County of), FL, Series 2023, RB                                                                                                               | CUSIP: 561851LQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $8499563.00   | 2.98%             | 2053-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Nevada (State of) Department of Business & Industry (Brightline West Passenger Rail) (Green Bonds)                                               | Nevada (State of) Department of Business & Industry (Brightline West Passenger Rail) (Green Bonds), Series 2025, RB                                    | CUSIP: 641455AB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2862763.20   | 1.00%             | 2033-01-01      | Variable      | 9.50%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp. (River City Science Academy)                                                                                   | Florida Development Finance Corp. (River City Science Academy), Series 2021, RB                                                                        | CUSIP: 34061UGR3<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $998839.80    | 0.35%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hess Ranch Metropolitan District No. 6                                                                                                           | Hess Ranch Metropolitan District No. 6, Series 2020 A-2, GO Bonds                                                                                      | CUSIP: 428112AB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $876143.20    | 0.31%             | 2049-12-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| California (State of) Educational Facilities Authority (Stanford University)                                                                     | California (State of) Educational Facilities Authority (Stanford University), Series 2014 U-6, RB                                                      | CUSIP: 1301783W4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3264333.00   | 1.14%             | 2045-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina (State of) Jobs-Economic Development Authority (High Point Academy Project)                                                       | South Carolina (State of) Jobs-Economic Development Authority (High Point Academy Project), Series 2018 A, RB                                          | CUSIP: 83704MAL0<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1368085.65   | 0.48%             | 2039-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Gladieux Metals Recycling, LLC                                                                                                                   | Gladieux Metals Recycling, LLC                                                                                                                         | CUSIP: 37654HAA1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    125000 | PA      | $120000.00    | 0.04%             | 2026-05-08      | Fixed         | 15.00%                | No            |                  2 | On Loan: No      |
| Seminole (County of), FL                                                                                                                         | Seminole (County of), FL, Series 2022, Ref. RB                                                                                                         | CUSIP: 816699BN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2430000 | PA      | $2469695.99   | 0.87%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts (Commonwealth of)                                                                                                                  | Massachusetts (Commonwealth of), Series 2004 A, Ref. GO Bonds                                                                                          | CUSIP: 57582NUZ6<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |    960000 | PA      | $1063864.70   | 0.37%             | 2030-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Reno (City of), NV (ReTRAC - Reno Transportation Rail Access Corridor)                                                                           | Reno (City of), NV (ReTRAC - Reno Transportation Rail Access Corridor), Series 2018 C, Ref. RB                                                         | CUSIP: 759861EJ2<br>LEI: 549300M4R5WWSUWY8D52 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $666659.25    | 0.23%             | 2058-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Remuda Ranch Metropolitan District                                                                                                               | Remuda Ranch Metropolitan District, Series 2020 A, GO Bonds                                                                                            | CUSIP: 75971UAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $1933732.59   | 0.68%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency, Inc. (H-Bay Ministries, Inc.- Superior Residences)                                                                         | Capital Trust Agency, Inc. (H-Bay Ministries, Inc.- Superior Residences), Series 2018 A-1, RB                                                          | CUSIP: 140542AK7<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    250000 | PA      | $73750.00     | 0.03%             | 2048-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority                                                                                                       | Metropolitan Washington Airports Authority, Series 2023, RB                                                                                            | CUSIP: 592647MC2<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6068253.00   | 2.13%             | 2048-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Hutto TX                                                                                                                                 | City of Hutto TX, Series 2025, RB                                                                                                                      | CUSIP: 448529AW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $282199.35    | 0.10%             | 2045-09-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp. (Renaissance Charter School, Inc.)                                                                             | Florida Development Finance Corp. (Renaissance Charter School, Inc.), Series 2015, RB                                                                  | CUSIP: 34061UBV9<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    985000 | PA      | $984967.89    | 0.35%             | 2046-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| New Jersey (State of) Economic Development Authority (Continental Airlines, Inc.)                                                                | New Jersey (State of) Economic Development Authority (Continental Airlines, Inc.), Series 2012, RB                                                     | CUSIP: 64578CBT7<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    805000 | PA      | $805575.58    | 0.28%             | 2027-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp.                                                                                                            | Puerto Rico Sales Tax Financing Corp., Series 2018 A-1, RB                                                                                             | CUSIP: 74529JQG3<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |  24150000 | PA      | $7752978.35   | 2.72%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Poway Unified School District (School Facilities Improvement)                                                                                    | Poway Unified School District (School Facilities Improvement), Series 2011, GO Bonds                                                                   | CUSIP: 738850RE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8000000 | PA      | $4361092.80   | 1.53%             | 2039-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| West Meadow Metropolitan District (Senior Bonds)                                                                                                 | West Meadow Metropolitan District (Senior Bonds), Series 2023 A, Ref. GO Bonds                                                                         | CUSIP: 954261AB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505052.90    | 0.18%             | 2050-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                                                                                                          | Michigan Strategic Fund, Series 2016, RB                                                                                                               | CUSIP: 594ESCAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2705000 | PA      | $603215.00    | 0.21%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Finance Authority (Rogers Park Montessori School)                                                                            | Illinois (State of) Finance Authority (Rogers Park Montessori School), Series 2014, Ref. RB                                                            | CUSIP: 452029AD3<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1140000 | PA      | $1139979.02   | 0.40%             | 2045-02-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Miami-Dade (County of), FL                                                                                                                       | Miami-Dade (County of), FL, Series 2017 B, Ref. RB                                                                                                     | CUSIP: 59333PZ92<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1996424.00   | 0.70%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Utah (State of) Charter School Finance Authority (Wallace Stegner Academy)                                                                       | Utah (State of) Charter School Finance Authority (Wallace Stegner Academy), Series 2022 A, RB                                                          | CUSIP: 91754TS79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2850598.20   | 1.00%             | 2052-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp.                                                                                                               | Tobacco Settlement Financing Corp., Series 2007 B-2, RB                                                                                                | CUSIP: 88880NAV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $895401.00    | 0.31%             | 2046-06-01      | Variable      | 5.20%                 | No            |                  2 | On Loan: No      |
| Arkansas (State of) Development Finance Authority (Green Bonds)                                                                                  | Arkansas (State of) Development Finance Authority (Green Bonds), Series 2022, RB                                                                       | CUSIP: 04110FAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1493190.30   | 0.52%             | 2052-09-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Lee's Summit (City of), MO Industrial Development Authority (John Knox Village)                                                                  | Lee's Summit (City of), MO Industrial Development Authority (John Knox Village), Series 2016 A, RB                                                     | CUSIP: 524292AR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1727747.80   | 0.61%             | 2046-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Brazoria County Industrial Development Corp. (Gladieux Metals Recycling LLC)                                                                     | Brazoria County Industrial Development Corp. (Gladieux Metals Recycling LLC), Series 2019, RB                                                          | CUSIP: 10604PAC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $928000.00    | 0.33%             | 2039-03-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Long Beach (City of), CA Bond Finance Authority                                                                                                  | Long Beach (City of), CA Bond Finance Authority, Series 2023, RB                                                                                       | CUSIP: 54241QDH8<br>LEI: 549300BKBZ5U7OZH3S21 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9056952.00   | 3.18%             | 2053-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico (Commonwealth of) Industrial, Tourist, Educational, Medical & Environmental Control Facilities Financing Authority (AES Puerto Rico) | Puerto Rico (Commonwealth of) Industrial, Tourist, Educational, Medical & Environmental Control Facilities Financing Authority (AES Puerto Rico), Seri | CUSIP: 74528KAB9<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |    622033 | PA      | $613372.99    | 0.22%             | 2028-01-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority (Two Step)                                                                                         | Wisconsin (State of) Public Finance Authority (Two Step), Series 2024, RB                                                                              | CUSIP: 74442PF42<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $845456.10    | 0.30%             | 2034-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Brooklyn Arena Local Development Corp. (Barclays Center)                                                                                         | Brooklyn Arena Local Development Corp. (Barclays Center), Series 2009, RB                                                                              | CUSIP: 113807AQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $3242409.00   | 1.14%             | 2046-07-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Iowa (State of) Finance Authority (Iowa Fertilizer Co.)                                                                                          | Iowa (State of) Finance Authority (Iowa Fertilizer Co.), Series 2022, Ref. RB                                                                          | CUSIP: 46246SAV7<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2249662.60   | 0.79%             | 2042-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Indianapolis Local Public Improvement Bond Bank (Convention Center Hotel)                                                                        | Indianapolis Local Public Improvement Bond Bank (Convention Center Hotel), Series 2023 E, RB                                                           | CUSIP: 45528U6X4<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036359.80   | 0.36%             | 2053-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Maine Health & Higher Educational Facilities Authority                                                                                           | Maine Health & Higher Educational Facilities Authority, Series 2023, RB                                                                                | CUSIP: 56042SCZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10660000 | PA      | $10074697.78  | 3.53%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Tuscaloosa (County of), AL Industrial Development Authority (Hunt Refining)                                                                      | Tuscaloosa (County of), AL Industrial Development Authority (Hunt Refining), Series 2019 A, Ref. IDR                                                   | CUSIP: 90068FAZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $985241.10    | 0.35%             | 2044-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp. (C.C. Young Memorial Home)                                                            | Tarrant County Cultural Education Facilities Finance Corp. (C.C. Young Memorial Home), Series 2017 A, RB                                               | CUSIP: 87638RHM2<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $650000.00    | 0.23%             | 2052-02-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| County of Broward FL Convention Center Hotel Revenue                                                                                             | County of Broward FL Convention Center Hotel Revenue, Series 2022, RB                                                                                  | CUSIP: 115012AV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12365000 | PA      | $13019784.87  | 4.57%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Westchester (County of), NY Industrial Development Agency (Million Air Two LLC General Aviation Facilities)                                      | Westchester (County of), NY Industrial Development Agency (Million Air Two LLC General Aviation Facilities), Series 2017 A, RB                         | CUSIP: 95737MAA9<br>LEI: 549300YOPFLG4RJ5YO58 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036867.40   | 0.36%             | 2046-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| New York Counties Tobacco Trust V                                                                                                                | New York Counties Tobacco Trust V, Series 2005 S-2, RB                                                                                                 | CUSIP: 649441AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8100000 | PA      | $1199544.39   | 0.42%             | 2050-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Ramsey (City of), MN (Pact Charter School)                                                                                                       | Ramsey (City of), MN (Pact Charter School), Series 2022 A, Ref. RB                                                                                     | CUSIP: 751814AA2<br>LEI: 549300PYUDKBK3S78343 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1454995.95   | 0.51%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey (State of) Economic Development Authority (Continental Airlines, Inc.)                                                                | New Jersey (State of) Economic Development Authority (Continental Airlines, Inc.), Series 1999, RB                                                     | CUSIP: 64578CAH4<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    855000 | PA      | $855237.43    | 0.30%             | 2029-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pima (County of), AZ Industrial Development Authority (The) (Career Success Schools)                                                             | Pima (County of), AZ Industrial Development Authority (The) (Career Success Schools), Series 2020, Ref. RB                                             | CUSIP: 72177MTE7<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1432901.25   | 0.50%             | 2040-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp. (Carillon Lifecare Community)                                                               | New Hope Cultural Education Facilities Finance Corp. (Carillon Lifecare Community), Series 2016, Ref. RB                                               | CUSIP: 64542UBB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $594189.78    | 0.21%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Daly (City of), CA Housing Development Finance Agency (Franciscan Mobile Home Park Acquisition)                                                  | Daly (City of), CA Housing Development Finance Agency (Franciscan Mobile Home Park Acquisition), Series 2007 C, Ref. RB                                | CUSIP: 235669FK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $834957.92    | 0.29%             | 2047-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| California (State of)                                                                                                                            | California (State of), Series 2023, GO Bonds                                                                                                           | CUSIP: 13063D5F1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4218500.00   | 1.48%             | 2053-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Development Finance Authority (CITGO Petroleum Corp.)                                                                        | Illinois (State of) Development Finance Authority (CITGO Petroleum Corp.), Series 2002, RB                                                             | CUSIP: 451916AH3<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    140000 | PA      | $140145.14    | 0.05%             | 2032-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Glendale (City of), AZ Industrial Development Authority (The Beatitudes Campus)                                                                  | Glendale (City of), AZ Industrial Development Authority (The Beatitudes Campus), Series 2017, Ref. RB                                                  | CUSIP: 378286JM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1088469.45   | 0.38%             | 2040-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey (State of) Housing & Mortgage Finance Agency (Riverview Towers Apartments)                                                            | New Jersey (State of) Housing & Mortgage Finance Agency (Riverview Towers Apartments), Series 2024, RB                                                 | CUSIP: 646127FN5<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2280636.00   | 0.80%             | 2065-12-20      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Georgetown (City of), CT Special Taxing District                                                                                                 | Georgetown (City of), CT Special Taxing District, Series 2006 A, GO Bonds                                                                              | CUSIP: 373022AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5310000 | PA      | $637200.00    | 0.22%             | 2036-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority                                                                                                    | Wisconsin (State of) Public Finance Authority, Series 2023 B, RB                                                                                       | CUSIP: 74448GAB5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1455000.00   | 0.51%             | 2062-07-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp. (Parrish Charter Academy, Inc.)                                                                                | Florida Development Finance Corp. (Parrish Charter Academy, Inc.), Series 2023, RB                                                                     | CUSIP: 34061ULY2<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   2140000 | PA      | $2113091.00   | 0.74%             | 2028-06-15      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| Southern California Logistics Airport Authority                                                                                                  | Southern California Logistics Airport Authority, Series 2008 A, RB                                                                                     | CUSIP: 842472DH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  18085000 | PA      | $5864773.80   | 2.06%             | 2044-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Capital Projects Finance Authority (Kissimmee Charter Academy)                                                                                   | Capital Projects Finance Authority (Kissimmee Charter Academy), Series 2024, RB                                                                        | CUSIP: 14043FAH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $278497.97    | 0.10%             | 2054-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp. (Brightline Florida Passenger Rail Expansion)                                                                  | Florida Development Finance Corp. (Brightline Florida Passenger Rail Expansion), Series 2024, Ref. RB                                                  | CUSIP: 340618DK0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2076757.60   | 0.73%             | 2028-07-15      | Variable      | 12.00%                | No            |                  2 | On Loan: No      |
| Illinois (State of)                                                                                                                              | Illinois (State of), Series 2020, GO Bonds                                                                                                             | CUSIP: 4521526M8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1039287.10   | 0.36%             | 2045-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency, Inc. (Tallahassee Tapestry)                                                                                                | Capital Trust Agency, Inc. (Tallahassee Tapestry), Series 2015, RB                                                                                     | CUSIP: 14052WCH8<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $150000.00    | 0.05%             | 2045-12-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Haymeadow Metropolitan District No 1                                                                                                             | Haymeadow Metropolitan District No 1, Series 2025, GO Bonds                                                                                            | CUSIP: 42089FAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1185000 | PA      | $1195914.80   | 0.42%             | 2049-12-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Finance Authority (Northshore Edward Elmhurst Health Credit Group)                                                           | Illinois (State of) Finance Authority (Northshore Edward Elmhurst Health Credit Group), Series 2022 A, Ref. RB                                         | CUSIP: 45204FQC2<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   5375000 | PA      | $5375074.18   | 1.88%             | 2051-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Counties Tobacco Trust IV                                                                                                               | New York Counties Tobacco Trust IV, Series 2010 A, RB                                                                                                  | CUSIP: 62947YAL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    982000 | PA      | $941809.10    | 0.33%             | 2041-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| West Virginia (State of) Economic Development Authority (Entsorga West Virginia LLC)                                                             | West Virginia (State of) Economic Development Authority (Entsorga West Virginia LLC), Series 2016, RB                                                  | CUSIP: 95648VAY5<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |    750000 | PA      | $525000.00    | 0.18%             | 2036-02-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Silicon Valley Tobacco Securitization Authority (Santa Clara)                                                                                    | Silicon Valley Tobacco Securitization Authority (Santa Clara), Series 2007 A, RB                                                                       | CUSIP: 82706TAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1086614.80   | 0.38%             | 2036-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York (State of) Dormitory Authority                                                                                                          | New York (State of) Dormitory Authority, Series 2018, RB                                                                                               | CUSIP: 64990AQM0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2265408.00   | 0.79%             | 2046-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AES PUERTO RICO Inc.                                                                                                                             | AES PUERTO RICO Inc.                                                                                                                                   | CUSIP: 00810HAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     20273 | PA      | $19664.19     | 0.01%             | 2026-03-04      | Fixed         | 12.50%                | No            |                  3 | On Loan: No      |
| Chicago (City of), IL Board of Education                                                                                                         | Chicago (City of), IL Board of Education, Series 2023 A, GO Bonds                                                                                      | CUSIP: 167505ZG4<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044777.10   | 0.37%             | 2049-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| King (County of), WA Public Hospital District No. 4                                                                                              | King (County of), WA Public Hospital District No. 4, Series 2015 A, RB                                                                                 | CUSIP: 494796AD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $986970.50    | 0.35%             | 2045-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Charyl Stockwell Academy                                                                                                                         | Charyl Stockwell Academy, Series 2015, Ref. RB                                                                                                         | CUSIP: 161419AC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $563126.38    | 0.20%             | 2045-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp. (Brightline Florida Passenger Rail Expansion)                                                                  | Florida Development Finance Corp. (Brightline Florida Passenger Rail Expansion), Series 2024, Ref. RB                                                  | CUSIP: 340618DW4<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003096.30   | 0.35%             | 2047-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Finance Authority (Lutheran Communities Obligated Group)                                                                     | Illinois (State of) Finance Authority (Lutheran Communities Obligated Group), Series 2019 A, Ref. RB                                                   | CUSIP: 45204E6E3<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1525000 | PA      | $1021750.00   | 0.36%             | 2040-11-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Louisiana (State of) Local Government Environmental Facilities & Community Development Authority                                                 | Louisiana (State of) Local Government Environmental Facilities & Community Development Authority, Series 2015 A, Ref. RB                               | CUSIP: 546282H72<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    750000 | PA      | $726435.60    | 0.25%             | 2045-11-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NASSAU CNTY N Y INDL DEV AGY CONTINUING CARE RETIREMENT                                                                                          | NASSAU CNTY N Y INDL DEV AGY CONTINUING CARE RETIREMENT                                                                                                | CUSIP: 631ESCAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1478780 | PA      | $14.79        | 0.00%             | 2058-01-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Ohio (State of) Air Quality Development Authority (AMG Vanadium Project)                                                                         | Ohio (State of) Air Quality Development Authority (AMG Vanadium Project), Series 2019, RB                                                              | CUSIP: 67754AAF1<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1754372.40   | 0.62%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico (Commonwealth of) Electric Power Authority                                                                                           | Puerto Rico (Commonwealth of) Electric Power Authority, Series 2007 VV, Ref. RB                                                                        | CUSIP: 74526QPT3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $965425.60    | 0.34%             | 2035-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Children's Trust Fund                                                                                                                            | Children's Trust Fund, Series 2005 A, RB                                                                                                               | CUSIP: 16876QBJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  27000000 | PA      | $4920852.60   | 1.73%             | 2050-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New Jersey (State of) Transportation Trust Fund Authority                                                                                        | New Jersey (State of) Transportation Trust Fund Authority, Series 2023 BB, RB                                                                          | CUSIP: 64613CEH7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5110474.00   | 1.79%             | 2050-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Houston (City of), TX Airport System (Continental Airlines, Inc.)                                                                                | Houston (City of), TX Airport System (Continental Airlines, Inc.), Series 2011 A, Ref. RB                                                              | CUSIP: 4423485T1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002128.80   | 0.35%             | 2038-07-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority (Quality Education Academy)                                                                        | Wisconsin (State of) Public Finance Authority (Quality Education Academy), Series 2023, RB                                                             | CUSIP: 744396JA1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    475000 | PA      | $487354.42    | 0.17%             | 2053-07-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp. (Cypress Christian School)                                                                              | Arlington Higher Education Finance Corp. (Cypress Christian School), Series 2024, RB                                                                   | CUSIP: 041807GA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1501973.70   | 0.53%             | 2043-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Wichita (City of), KS (Presbyterian Manors, Inc.)                                                                                                | Wichita (City of), KS (Presbyterian Manors, Inc.), Series 2024 VIII, Ref. RB                                                                           | CUSIP: 967249RM7<br>LEI: 549300Y20JVN3VP2V718 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $957390.70    | 0.34%             | 2045-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| South Carolina (State of) Jobs-Economic Development Authority (South Carolina Episcopal Home at Still Hopes)                                     | South Carolina (State of) Jobs-Economic Development Authority (South Carolina Episcopal Home at Still Hopes), Series 2018 A, Ref. RB                   | CUSIP: 83704CAY4<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1820627.20   | 0.64%             | 2048-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico (Commonwealth of)                                                                                                                    | Puerto Rico (Commonwealth of), Subseries 2022, RN                                                                                                      | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   3190000 | PA      | $1917987.51   | 0.67%             | 2043-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Verve Metropolitan District No. 1                                                                                                                | Verve Metropolitan District No. 1, Series 2021, Ref. GO Bonds                                                                                          | CUSIP: 92538YAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $492305.94    | 0.17%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Birmingham (City of), AL Special Care Facilities Financing Authority (Methodist Home for the Aging)                                              | Birmingham (City of), AL Special Care Facilities Financing Authority (Methodist Home for the Aging), Series 2016, RB                                   | CUSIP: 091081DN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $878728.60    | 0.31%             | 2045-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Massachusetts (Commonwealth of)                                                                                                                  | Massachusetts (Commonwealth of), Series 2023 A, GO Bonds                                                                                               | CUSIP: 57582R3A2<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |  10020000 | PA      | $10156586.63  | 3.56%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago (City of), IL                                                                                                                            | Chicago (City of), IL, Series 2017 A, Ref. GO Bonds                                                                                                    | CUSIP: 167486ZY8<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1526886.15   | 0.54%             | 2038-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia (City of), PA Authority for Industrial Development (Children's Hospital of Philadelphia)                                            | Philadelphia (City of), PA Authority for Industrial Development (Children's Hospital of Philadelphia), Series 2024, RB                                 | CUSIP: 717901BZ4<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7278894.00   | 2.55%             | 2049-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California (State of) Statewide Communities Development Authority (Creative Child Care & Team Charter)                                           | California (State of) Statewide Communities Development Authority (Creative Child Care & Team Charter), Series 2015, RB                                | CUSIP: 13080KAU5<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    700000 | PA      | $674415.91    | 0.24%             | 2045-06-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Denver (City & County of), CO                                                                                                                    | Denver (City & County of), CO, Series 2022 D, Ref. RB                                                                                                  | CUSIP: 249182TM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2118499.60   | 0.74%             | 2045-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Gardens on Havana Metropolitan District No. 3 (The)                                                                                              | Gardens on Havana Metropolitan District No. 3 (The), Series 2017 B, RB                                                                                 | CUSIP: 365491AE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $560406.50    | 0.20%             | 2047-12-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Regents of the University of California Medical Center                                                                                           | Regents of the University of California Medical Center, Series 2022 P, RB                                                                              | CUSIP: 913366KT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10740000 | PA      | $9290516.71   | 3.26%             | 2053-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Arizona (State of) Industrial Development Authority (Academies of Math & Science)                                                                | Arizona (State of) Industrial Development Authority (Academies of Math & Science), Series 2022, RB                                                     | CUSIP: 04052BSK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1577418.27   | 0.55%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Branson Hills Infrastructure Facilities Community Improvement District                                                                           | Branson Hills Infrastructure Facilities Community Improvement District, Series 2007 A, RB                                                              | CUSIP: 10542RAK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    607676 | PA      | $206609.88    | 0.07%             | 2027-04-01      | Fixed         | 5.50%                 | No            |                  3 | On Loan: No      |
| Huntsville (City of), AL Special Care Facilities Financing Authority (Redstone Village)                                                          | Huntsville (City of), AL Special Care Facilities Financing Authority (Redstone Village), Series 2007, RB                                               | CUSIP: 447297AL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $508750.00    | 0.18%             | 2043-01-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority                                                                                                    | Wisconsin (State of) Public Finance Authority, Series 2023 A, Ref. RB                                                                                  | CUSIP: 74442ELK4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013727.40   | 0.36%             | 2053-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp. (MRC Senior Living-The Langford)                                                            | New Hope Cultural Education Facilities Finance Corp. (MRC Senior Living-The Langford), Series 2016 A, RB                                               | CUSIP: 64542UCZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $313285.72    | 0.11%             | 2046-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                                                                                                   | Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Ref. RB                                                                               | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1516530.05   | 0.53%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Alachua (County of), FL Health Facilities Authority (East Ridge Retirement Village, Inc.)                                                        | Alachua (County of), FL Health Facilities Authority (East Ridge Retirement Village, Inc.), Series 2014, RB                                             | CUSIP: 010685JV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $585000.00    | 0.21%             | 2049-11-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Washington (State of) Housing Finance Commission (Presbyterian Retirement Communities Northwest)                                                 | Washington (State of) Housing Finance Commission (Presbyterian Retirement Communities Northwest), Series 2016 A, Ref. RB                               | CUSIP: 939783TK2<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1739813.20   | 0.61%             | 2051-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City & County of Denver Co. Airport System Revenue                                                                                               | City & County of Denver Co. Airport System Revenue, Series 2022, RB                                                                                    | CUSIP: 249182TL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005999.60   | 0.35%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire (State of) Business Finance Authority (Social Bonds)                                                                               | New Hampshire (State of) Business Finance Authority (Social Bonds), Series 2022-2A, RB                                                                 | CUSIP: 63607WAE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1060901 | PA      | $998549.33    | 0.35%             | 2036-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TSASC, Inc.                                                                                                                                      | TSASC, Inc., Series 2016 B, Ref. RB                                                                                                                    | CUSIP: 898526FQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1764623.00   | 0.62%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** Invesco Municipal Income Opportunities Trust

**Signature:** Adrien Deberghes

**Name of Signer:** Adrien Deberghes

**Title:** Principal Financial Officer and Treasurer