# EDGAR Filing Document

**Accession Number:** 0000909466
**File Stem:** 0001752724-23-017907
**Filing Date:** 2023-1
**Character Count:** 77079
**Document Hash:** 69b118a3e03466917e2e87edbdf6df7f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-017907.hdr.sgml**: 20230130

**ACCESSION NUMBER**: 0001752724-23-017907

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230130

**DATE AS OF CHANGE**: 20230130

**PERIOD START**: 20230228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AIM TAX-EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS)
- **CENTRAL INDEX KEY:** 0000909466
- **IRS NUMBER:** 766035958
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07890
- **FILM NUMBER:** 23566868

**BUSINESS ADDRESS:**
- **STREET 1:** 11 GREENWAY PLAZA
- **STREET 2:** SUITE 1000
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77046
- **BUSINESS PHONE:** 7136261919

**MAIL ADDRESS:**
- **STREET 1:** 11 GREENWAY PLAZA
- **STREET 2:** SUITE 1000
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77046

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIM TAX EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS)
- **DATE OF NAME CHANGE:** 20100430

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIM TAX EXEMPT FUNDS
- **DATE OF NAME CHANGE:** 20000324

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIM TAX EXEMPT FUNDS INC/NEW
- **DATE OF NAME CHANGE:** 19940718

## Series and Classes Contracts Data

### Invesco Environmental Focus Municipal Fund (Series ID: S000064634)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000209249 | Class R6     | IOMUX           |
| C000209250 | Class Y      | OPYMX           |
| C000209251 | Class C      | OPCMX           |
| C000209252 | Class A      | OPAMX           |

## Nport-Ex

**Schedule of Investments** 

*November 30, 2022* 

*(Unaudited)* 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest<br>Rate** | **Maturity<br>Date** | **Principal<br>Amount<br>(000)** | **Value** |
|  **Municipal Obligations–99.12%** |  |  |  |  |
|  **Arizona–1.97%** |  |  |  |  |
|  Arizona (State of) Industrial Development Authority (Mater Academy of Nevada Mountain Vista Campus Project); Series 2018 A, RB<sup>(a)</sup>  | 5.25% | 12/15/2038 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100286 |
|  Maricopa (County of), AZ Industrial Development Authority (Benjamin Franklin Charter School); Series 2018, RB<sup>(a)</sup>  | 6.00% | 07/01/2052 | 1000 | 1023694 |
|  Maricopa County Pollution Control Corp. (Southern California Edison); Series 2000, Ref. RB | 2.40% | 06/01/2035 | 1000 | 762042 |
|  |  |  |  | 1886022 |
|  **Arkansas–1.56%** |  |  |  |  |
|  Arkansas (State of) Development Finance Authority (Green Bonds); Series 2022, RB<sup>(a)(b)</sup>  | 5.45% | 09/01/2052 | 1500 | 1491115 |
|  **California–12.93%** |  |  |  |  |
|  California (State of); Series 2022, GO Bonds | 5.25% | 09/01/2047 | 1000 | 1134727 |
|  California (State of) Community Choice Financing Authority (Green Bonds); Series 2021 B-1, RB<sup>(c)</sup>  | 4.00% | 08/01/2031 | 2750 | 2715090 |
|  California (State of) Educational Facilities Authority (University of Redlands); Series 2022 A, RB | 5.00% | 10/01/2052 | 1000 | 1011904 |
|  California (State of) Health Facilities Financing Authority (Commonspirit Health); Series 2020 A, Ref. RB | 4.00% | 04/01/2049 | 1000 | 901779 |
|  California (State of) Municipal Finance Authority (Sustainability Bonds); Series 2021, RB<sup>(a)</sup>  | 4.00% | 11/01/2036 | 1625 | 1463074 |
|  California (State of) Pollution Control Financing Authority (San Diego County Water Authority); Series 2019, Ref. RB<sup>(a)</sup>  | 5.00% | 11/21/2045 | 1650 | 1520898 |
|  California (State of) Public Finance Authority (Enso Village) (Green Bonds); |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021, RB<sup>(a)</sup>  | 2.38% | 11/15/2028 | 510 | 470058 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021, RB<sup>(a)</sup>  | 5.00% | 11/15/2051 | 1250 | 1040593 |
|  Los Angeles (City of), CA Department of Airports (Green Bonds); Series 2022 G, RB<sup>(b)</sup>  | 5.25% | 05/15/2047 | 2000 | 2132519 |
|  |  |  |  | 12390642 |
|  **Colorado–2.86%** |  |  |  |  |
|  Colorado (State of) Health Facilities Authority (CommonSpirit Health); Series 2022, RB | 5.25% | 11/01/2052 | 1500 | 1544871 |
|  Colorado (State of) Regional Transportation District (Denver Transit Partners Eagle P3); Series 2020 A, Ref. RB | 4.00% | 07/15/2035 | 1250 | 1191478 |
|  |  |  |  | 2736349 |
|  **District of Columbia–2.87%** |  |  |  |  |
|  District of Columbia (Green Bonds); Series 2022 A, RB<sup>(b)</sup>  | 5.50% | 08/31/2034 | 2500 | 2748268 |
|  **Florida–5.59%** |  |  |  |  |
|  Broward (County of), FL; Series 2022 A, RB | 4.00% | 10/01/2045 | 1000 | 992609 |
|  Capital Trust Agency, Inc. (Sustainability Bonds); Series 2021, RB<sup>(a)</sup>  | 4.00% | 06/15/2051 | 2000 | 1460993 |
|  Florida Development Finance Corp. (Green Bonds); Series 2019 B, RB<sup>(a)(b)</sup>  | 7.38% | 01/01/2049 | 1000 | 891722 |
|  Lake Helen (City of), FL (Ivy Hawn Charter School of the Arts); Series 2018 A, RB<sup>(a)</sup>  | 5.75% | 07/15/2053 | 100 | 93079 |
|  Miami-Dade (County of), FL; Series 2021, RB | 4.00% | 10/01/2046 | 2000 | 1915479 |
|  |  |  |  | 5353882 |
|  **Georgia–1.71%** |  |  |  |  |
|  Atlanta (City of), GA (Beltline); Series 2016 A, Ref. RB | 5.00% | 01/01/2026 | 1275 | 1276957 |
|  Oconee (County of), GA Industrial Development Authority (Presbyterian Village Athens); |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018 A-1, RB | 6.38% | 12/01/2053 | 250 | 202486 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018 A-2, RB<sup>(c)</sup>  | 5.50% | 12/01/2028 | 175 | 157403 |
|  |  |  |  | 1636846 |
|  **Illinois–3.11%** |  |  |  |  |
|  Chicago (City of), IL; Series 2021 A, Ref. GO Bonds | 5.00% | 01/01/2033 | 1000 | 1006281 |
|  Chicago (City of), IL Transit Authority; Series 2022 A, Ref. RB | 5.00% | 12/01/2052 | 1000 | 1022873 |
|  Chicago Park District; Series 2020 D, GO Bonds (INS - BAM)<sup>(d)</sup>  | 4.00% | 01/01/2038 | 1000 | 949033 |
|  |  |  |  | 2978187 |
|  **Indiana–1.02%** |  |  |  |  |
|  Indiana (State of) Finance Authority (Ohio Valley Electrical Corp.); Series 2012 A, RB | 4.25% | 11/01/2030 | 1000 | 973701 |

---

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

**Invesco Environmental Focus Municipal Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest<br>Rate** | **Maturity<br>Date** | **Principal<br>Amount<br>(000)** | **Value** |
|  **Iowa–0.09%** |  |  |  |  |
|  Clear Lake (City of), IA (Timbercrest Apartments, LLC); Series 2018, RB | 6.00% | 10/01/2048 | $100 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90652 |
|  **Kentucky–0.95%** |  |  |  |  |
|  Henderson (City of), KY (Pratt Paper LLC); Series 2022 B, RB<sup>(a)(b)</sup>  | 4.45% | 01/01/2042 | 1000 | 911018 |
|  **Louisiana–2.90%** |  |  |  |  |
|  Louisiana (State of) Local Government Environmental Facilities & Community Development Authority (Entergy Louisiana LLC); Series 2021 B, Ref. RB | 2.50% | 04/01/2036 | 2000 | 1597917 |
|  New Orleans (City of), LA; Series 2020 B, RB | 4.00% | 06/01/2050 | 1300 | 1185004 |
|  |  |  |  | 2782921 |
|  **Maryland–3.26%** |  |  |  |  |
|  Maryland Economic Development Corp. (Green Bonds); Series 2022, RB<sup>(b)</sup>  | 5.25% | 06/30/2052 | 2000 | 2076860 |
|  Maryland Economic Development Corp. (Purple Line) (Green Bonds); Series 2022 A, RB<sup>(b)</sup>  | 5.00% | 11/12/2028 | 1000 | 1048097 |
|  |  |  |  | 3124957 |
|  **Massachusetts–4.69%** |  |  |  |  |
|  Massachusetts (Commonwealth of) Development Finance Agency (Green Bonds); Series 2015, RB | 5.00% | 07/01/2044 | 1000 | 1005485 |
|  Massachusetts (Commonwealth of) Housing Finance Agency (Sustainability Bonds); Series 2020 D-1, RB | 2.65% | 12/01/2055 | 2000 | 1309676 |
|  Massachusetts (Commonwealth of) Transportation Fund (Sustainability Bonds); Series 2022, RB | 5.00% | 06/01/2050 | 2000 | 2173695 |
|  |  |  |  | 4488856 |
|  **Minnesota–9.23%** |  |  |  |  |
|  Anoka (County of), MN Housing & Redevelopment Authority (Woodland Park Apartments); Series 2011 A, RB | 5.00% | 04/01/2027 | 1000 | 1001354 |
|  Chisago (City of), MN (CDL Homes LLC); Series 2013 B, RB | 6.00% | 08/01/2043 | 1000 | 1001641 |
|  Cokato (City of), MN (Cokato Charitable Trust); Series 2006 A, Ref. RB | 5.25% | 12/01/2026 | 125 | 120042 |
|  Dakota (County of), MN Community Development Agency (Sanctuary at West St. Paul); Series 2015, RB (Acquired 08/06/2015-01/18/2019; Cost $2,301,385)<sup>(e)</sup>  | 6.00% | 08/01/2035 | 2300 | 1774641 |
|  Hayward (City of), MN (St. John's Lutheran Home of Albert Lea); Series 2014, Ref. RB | 5.38% | 10/01/2044 | 500 | 338741 |
|  International Falls (City of), MN; Series 1999, Ref. RB<sup>(b)</sup>  | 6.85% | 12/01/2029 | 115 | 115584 |
|  Little Canada (City of), MN (PHS/Mayfield LLC); Series 2010, Ref. RB | 6.00% | 12/01/2030 | 250 | 238409 |
|  Maplewood (City of), MN (VOA Care Centers); Series 2005 A, Ref. RB | 5.38% | 10/01/2024 | 275 | 263794 |
|  Minneapolis & St. Paul (Cities of), MN Housing Finance Board; Series 2007 A-2, RB (CEP - GNMA)<sup>(b)</sup>  | 5.52% | 03/01/2041 | 5 | 5010 |
|  Minnesota (State of) Housing Finance Agency; Series 2013 B-1, RB | 5.30% | 08/01/2044 | 1050 | 1058727 |
|  St. Louis (City of), MN Park Economic Development Authority (Hoigaard Village); Series 2010, RB | 5.00% | 02/01/2023 | 50 | 49951 |
|  St. Paul (City of), MN Housing & Redevelopment Authority; Series 2004, RB | 6.25% | 03/01/2029 | 233 | 208274 |
|  St. Paul (City of), MN Port Authority; Series 2007 1, RB | 5.00% | 08/01/2036 | 1310 | 1310265 |
|  Stillwater (City of), MN (Orleans Homes); |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007, RB<sup>(b)</sup>  | 5.38% | 02/01/2032 | 900 | 879269 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007, RB<sup>(b)</sup>  | 5.50% | 02/01/2042 | 510 | 475105 |
|  |  |  |  | 8840807 |
|  **Missouri–1.41%** |  |  |  |  |
|  Boone (County of), MO (Boone Hospital Center); Series 2016, Ref. RB | 5.00% | 08/01/2031 | 900 | 835999 |
|  Missouri (State of) Health & Educational Facilities Authority (Maryville University of St. Louis); Series 2019 A, RB | 5.00% | 06/15/2045 | 500 | 512822 |
|  |  |  |  | 1348821 |
|  **New Hampshire–0.85%** |  |  |  |  |
|  New Hampshire (State of) Business Finance Authority (Covanta Green Bonds); Series 2020 B, Ref. RB<sup>(a)(b)(c)</sup>  | 3.75% | 07/02/2040 | 1000 | 811183 |
|  **New Jersey–4.47%** |  |  |  |  |
|  New Jersey (State of) Economic Development Authority (Golden Door Charter School); Series 2018 A, RB<sup>(a)</sup>  | 6.50% | 11/01/2052 | 100 | 104472 |
|  New Jersey (State of) Economic Development Authority (Newark Downtown District Management Corp.); Series 2019, Ref. RB | 5.13% | 06/15/2037 | 83 | 88840 |
|  New Jersey (State of) Economic Development Authority (Portal North Bridge); Series 2022 A, RB | 5.00% | 11/01/2052 | 1000 | 1023875 |

---

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

**Invesco Environmental Focus Municipal Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest<br>Rate** | **Maturity<br>Date** | **Principal<br>Amount<br>(000)** | **Value** |
|  **New Jersey–(continued)** |  |  |  |  |
|  New Jersey (State of) Educational Facilities Authority (Stevens Institute of Technology) (Green Bonds); Series 2020 A, RB | 5.00% | 07/01/2045 | $3000 | $&nbsp;&nbsp;&nbsp;&nbsp;3070245 |
|  |  |  |  | 4287432 |
|  **New Mexico–1.69%** |  |  |  |  |
|  Farmington (City of), NM (San Juan and Four Corners); Series 2016 B, Ref. RB | 2.15% | 04/01/2033 | 2000 | 1615287 |
|  **New York–18.83%** |  |  |  |  |
|  Metropolitan Transportation Authority (Green Bonds); |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020 C-1, RB | 5.00% | 11/15/2050 | 1000 | 981216 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020 C-1, RB | 5.25% | 11/15/2055 | 2000 | 2020028 |
|  New York (City of), NY; |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018 E-1, GO Bonds | 4.00% | 03/01/2042 | 1000 | 980183 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021 F-1, GO Bonds | 4.00% | 03/01/2047 | 2240 | 2137950 |
| &nbsp;&nbsp;&nbsp;&nbsp; Subseries 2022 B-1, GO Bonds | 5.25% | 10/01/2047 | 1000 | 1106870 |
|  New York (State of) Dormitory Authority; Series 2020 A, RB | 4.00% | 07/01/2053 | 1000 | 908280 |
|  New York (State of) Dormitory Authority (Montefiore Obligated Group); Series 2020 A, Ref. RB | 4.00% | 09/01/2045 | 1500 | 1222837 |
|  New York (State of) Housing Finance Agency (Sustainability Bonds); Series 2019 P, RB | 3.05% | 11/01/2049 | 1000 | 733404 |
|  New York (State of) Thruway Authority (Bidding Group 1); Series 2022 C, RB | 5.00% | 03/15/2055 | 1000 | 1063965 |
|  New York City Housing Development Corp. (Sustainable Development); Series 2020 A-1-C, RB | 2.80% | 11/01/2045 | 1000 | 706245 |
|  New York Liberty Development Corp. (Green Bonds); |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021 A, Ref. RB (INS - AGM)<sup>(d)</sup>  | 2.75% | 11/15/2041 | 1000 | 774542 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021 A, Ref. RB | 2.88% | 11/15/2046 | 1000 | 705672 |
|  Triborough Bridge & Tunnel Authority; |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021 C-3, RB | 4.00% | 05/15/2051 | 1500 | 1421911 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022 C, RB | 5.00% | 05/15/2047 | 1000 | 1078191 |
|  Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels); Series 2022 A, RB | 5.25% | 05/15/2052 | 2000 | 2197443 |
|  |  |  |  | 18038737 |
|  **Ohio–1.04%** |  |  |  |  |
|  Ohio (State of) Higher Educational Facility Commission (University of Findlay); Series 2019, Ref. RB | 5.00% | 03/01/2039 | 1000 | 1001386 |
|  **Oregon–1.57%** |  |  |  |  |
|  Multnomah (County of), OR Hospital Facilities Authority (Terwilliger Plaza, Inc.); Series 2021, Ref. RB | 4.00% | 12/01/2051 | 2000 | 1504369 |
|  **Pennsylvania–3.74%** |  |  |  |  |
|  Chester (County of), PA Industrial Development Authority (Sustainability Bonds); Series 2021, RB | 4.00% | 12/01/2051 | 1500 | 1392824 |
|  Geisinger Authority (Geisinger Health System); Series 2020, Ref. RB | 4.00% | 04/01/2050 | 2415 | 2194555 |
|  |  |  |  | 3587379 |
|  **Tennessee–0.10%** |  |  |  |  |
|  Metropolitan Development and Housing Agency (Fifth + Broadway Development); Series 2018, RB<sup>(a)</sup>  | 5.13% | 06/01/2036 | 100 | 100977 |
|  **Texas–1.39%** |  |  |  |  |
|  San Antonio (City of), TX; Series 2020, RB | 5.00% | 02/01/2049 | 1260 | 1329681 |
|  **Washington–5.50%** |  |  |  |  |
|  King (County of), WA; Series 2019 A, Ref. VRD GO Bonds<sup>(f)</sup>  | 1.40% | 01/01/2046 | 495 | 495000 |
|  Washington (State of) Economic Development Finance Authority (Green Bonds); Series 2020 A, RB<sup>(a)(b)</sup>  | 5.63% | 12/01/2040 | 2000 | 1948154 |
|  Washington (State of) Health Care Facilities Authority (Virginia Mason Medical Center); Series 2017, Ref. RB | 5.00% | 08/15/2035 | 2745 | 2827548 |
|  |  |  |  | 5270702 |
|  **Wisconsin–3.79%** |  |  |  |  |
|  Somers (Village of), WI; Series 2018 B, Ref. RB | 4.85% | 06/01/2036 | 1235 | 1251695 |
|  Wisconsin (State of) Public Finance Authority (Beyond Boone, LLC - Appalachian State University); Series 2019 A, RB (INS - AGM)<sup>(d)</sup>  | 5.00% | 07/01/2058 | 100 | 100744 |
|  Wisconsin (State of) Public Finance Authority (Green Bonds); Series 2021, RB<sup>(b)</sup>  | 4.00% | 09/30/2051 | 2540 | 2010742 |
|  Wisconsin (State of) Public Finance Authority (North Carolina Leadership Academy); Series 2019, RB<sup>(a)</sup>  | 5.00% | 06/15/2039 | 100 | 94302 |

---

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

**Invesco Environmental Focus Municipal Fund**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest<br>Rate** | **Maturity<br>Date** | **Principal<br>Amount<br>(000)** | **Value** |
|  **Wisconsin–(continued)** |  |  |  |  |
|  Wisconsin (State of) Public Finance Authority (Traders Point Christian Schools); |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019 A, RB<sup>(a)</sup>  | 5.38% | 06/01/2044 | $100 | $89511 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019 A, RB<sup>(a)</sup>  | 5.50% | 06/01/2054 | 100 | 87628 |
|  |  |  |  | 3634622 |
|  TOTAL INVESTMENTS IN SECURITIES<sup>(g)</sup> –99.12% (Cost $98,578,921) |  |  |  | 94964799 |
|  OTHER ASSETS LESS LIABILITIES–0.88% |  |  |  | 838369 |
|  NET ASSETS–100.00% |  |  |  | $95803168 |

---

---

| | |
|:---|:---|
| Investment Abbreviations: | Investment Abbreviations: |
| AGM | – Assured Guaranty Municipal Corp. |
| BAM | – Build America Mutual Assurance Co. |
| CEP | – Credit Enhancement Provider |
| GNMA | – Government National Mortgage Association |
| GO | – General Obligation |
| INS | – Insurer |
| MTA | – Moving Treasury Average |
| RB | – Revenue Bonds |
| Ref. | – Refunding |
| VRD | – Variable Rate Demand |

---

Notes to Schedule of Investments:

<sup>(a)</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 November 30, 2022 was $13,702,757, which represented 14.30% of the Fund's Net Assets. 

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

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

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

<sup>(e)</sup> Restricted security. The value of this security at November 30, 2022 represented 1.85% of the Fund's Net Assets. 

<sup>(f)</sup> Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on November 30, 2022.

<sup>(g)</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 obligation but may be called upon to satisfy issuer's obligations. No concentration of any single entity was greater than 5% each. 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts<sup>(a)</sup>**  | **Open Futures Contracts<sup>(a)</sup>**  | **Open Futures Contracts<sup>(a)</sup>**  | **Open Futures Contracts<sup>(a)</sup>**  | **Open Futures Contracts<sup>(a)</sup>**  | **Open Futures Contracts<sup>(a)</sup>**  |
| **Short Futures Contracts** | **Number of<br>Contracts** | **Expiration<br>Month** | **Notional<br>Value** | **Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  **Interest Rate Risk** |  |  |  |  |  |
|  U.S. Treasury 10 Year Notes | 57 | March-2023 | $(6469500) | $(31172) | $(31172) |

---

<sup>(a)</sup> Futures contracts collateralized by $133,823 cash held with Goldman Sachs & Co, the futures commission merchant. 

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 Environmental Focus Municipal Fund**

------

**Notes to Quarterly Schedule of Portfolio Holdings** 

*November 30, 2022*

*(Unaudited)*

**NOTE 1–Additional Valuation Information** 

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

---

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

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a summary of the tiered valuation input levels, as of November 30, 2022. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
|  **Investments in Securities** |  |  |  |  |
|  Municipal Obligations | $– | $94964799 | $– | $94964799 |
|  **Other Investments - Liabilities\*** |  |  |  |  |
|  Futures Contracts | (31172) |  | &nbsp;&nbsp;&nbsp;&nbsp;– | (31172) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investments** | $(31172) | $94964799 | $– | $94933627 |

---

\* Unrealized appreciation (depreciation).

**Invesco Environmental Focus Municipal Fund**

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds)

- **b. Investment Company Act file number:** 811-07890

- **c. CIK number of Registrant:** 0000909466

- **d. LEI of Registrant:** SW0MHD1146AQ1M76HG37

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

  - **Street Address 1:** 11 Greenway Plaza

  - **City:** Houston

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 77046-1173

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

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

- **a. Name of Series:** Invesco Environmental Focus Municipal Fund

- **b. EDGAR series identifier (if any):** S000064634

- **c. LEI of Series:** 549300QGE4S83FPUCM16

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

- **a. Date of fiscal year-end:** 2023-02-28

- **b. Date as of which information is reported:** 2022-11-30

**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:** $96087730.43

**Total Liabilities:** $455174.42

**Net Assets:** $95632556.01

**Cash Not Reported:** $226246.72

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -155.61721890 | **1-Year:** -1575.90993150 | **5-Year:** -9508.10212312 | **10-Year:** -36749.18763003 | **30-Year:** -18400.58427115

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

- **3-Month:** -62.37899708 | **1-Year:** -833.28331648 | **5-Year:** -3329.32521669 | **10-Year:** -8499.34334915 | **30-Year:** -3269.93879321

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000209252 | -5.31%               | -1.77%               | 6.31%                |
| Class ID C000209250 | -5.29%               | -1.65%               | 6.24%                |
| Class ID C000209249 | -5.29%               | -1.75%               | 6.33%                |
| Class ID C000209251 | -5.38%               | -1.74%               | 6.15%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2123965.98             | $-3887743.34                               |
| Month 2  | $-845362.98              | $-1157231.95                               |
| Month 3  | $-764616.53              | $6328402.64                                |

**Designated Index Information**

- **Index Name:** Bloomberg Barclays Municipal 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Minneapolis & St. Paul (Cities of), MN Housing Finance Board                                                             | Minneapolis & St. Paul (Cities of), MN Housing Finance Board, Series 2007 A-2, RB                                                                | CUSIP: 603798AH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5010.09      | 0.01%             | 2041-03-01      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                                                               | City of Los Angeles Department of Airports, Series 2022, RB                                                                                      | CUSIP: 544445C80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2132519.20   | 2.23%             | 2047-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Anoka (County of), MN Housing & Redevelopment Authority (Woodland Park Apartments)                                       | Anoka (County of), MN Housing & Redevelopment Authority (Woodland Park Apartments), Series 2011 A, RB                                            | CUSIP: 036322AP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001354.10   | 1.05%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Orleans (City of), LA                                                                                                | New Orleans (City of), LA, Series 2020 B, RB                                                                                                     | CUSIP: 647719PV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1185004.60   | 1.24%             | 2050-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California (State of) Municipal Finance Authority (Sustainability Bonds)                                                 | California (State of) Municipal Finance Authority (Sustainability Bonds), Series 2021, RB                                                        | CUSIP: 130483ES5<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1463073.79   | 1.53%             | 2036-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California (State of) Public Finance Authority (Enso Village) (Green Bonds)                                              | California (State of) Public Finance Authority (Enso Village) (Green Bonds), Series 2021, RB                                                     | CUSIP: 13057GAF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $470058.08    | 0.49%             | 2028-11-15      | Fixed         | 2.38%                 | No            |                  2 | 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: 509893AD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $93078.95     | 0.10%             | 2053-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Arkansas Development Finance Authority                                                                                   | Arkansas Development Finance Authority, Series 2022, RB                                                                                          | CUSIP: 04110FAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1491114.90   | 1.56%             | 2052-09-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Chicago Park District                                                                                                    | Chicago Park District, Series 2020 D, GO Bonds                                                                                                   | CUSIP: 167615B85<br>LEI: 549300DNSTZGBZLIU409 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $949033.50    | 0.99%             | 2038-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| San Antonio (City of), TX                                                                                                | San Antonio (City of), TX, Series 2020, RB                                                                                                       | CUSIP: 79625GCS0<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1329680.90   | 1.39%             | 2049-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                                 | Massachusetts Development Finance Agency, Series 2015, RB                                                                                        | CUSIP: 57583U6R4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005485.00   | 1.05%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio (State of) Higher Educational Facility Commission (University Findlay)                                              | Ohio (State of) Higher Educational Facility Commission (University Findlay), Series 2019, Ref. RB                                                | CUSIP: 67756DTG1<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001386.20   | 1.05%             | 2039-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                                                                    | Metropolitan Transportation Authority, Series 2020 C-1, RB                                                                                       | CUSIP: 59261AG43<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $981216.30    | 1.03%             | 2050-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana (State of) Local Government Environmental Facilities & Community Development Authority (Entergy Louisiana LLC) | Louisiana (State of) Local Government Environmental Facilities & Community Development Authority (Entergy Louisiana LLC), Series 2021 B, Ref. RB | CUSIP: 54628CUH3<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1597916.80   | 1.67%             | 2036-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| California Educational Facilities Authority                                                                              | California Educational Facilities Authority, Series 2022, RB                                                                                     | CUSIP: 130179UR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011903.60   | 1.06%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado (State of) Regional Transportation District (Denver Transit Partners Eagle P3)                                  | Colorado (State of) Regional Transportation District (Denver Transit Partners Eagle P3), Series 2020 A, Ref. RB                                  | CUSIP: 759151BR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1191477.63   | 1.25%             | 2035-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago (City of), IL                                                                                                    | Chicago (City of), IL, Series 2021 A, Ref. GO Bonds                                                                                              | CUSIP: 167486M22<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006280.70   | 1.05%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York (City of), NY                                                                                                   | New York (City of), NY, Series 2021 F-1, GO Bonds                                                                                                | CUSIP: 64966QVV9<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2240000 | PA      | $2137950.08   | 2.24%             | 2047-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Multnomah (County of), OR Hospital Facilities Authority                                                                  | Multnomah (County of), OR Hospital Facilities Authority, Series 2021, Ref. RB                                                                    | CUSIP: 62551PDA2<br>LEI: 549300GAP0JIG7V33754 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1504368.60   | 1.57%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chester (County of), PA Industrial Development Authority (Sustainability Bonds)                                          | Chester (County of), PA Industrial Development Authority (Sustainability Bonds), Series 2021, RB                                                 | CUSIP: 165588FJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1392823.50   | 1.46%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                                                      | U.S. Treasury 10 Year Notes Future                                                                                                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | N/A       |       -57 | NC      | $-31171.87    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| King (County of), WA                                                                                                     | King (County of), WA, Series 2019 A, Ref. VRD GO Bonds                                                                                           | CUSIP: 49474FUP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    495000 | PA      | $495000.00    | 0.52%             | 2046-01-01      | Variable      | 1.05%                 | No            |                  2 | On Loan: No      |
| New Jersey (State of) Economic Development Authority                                                                     | New Jersey (State of) Economic Development Authority, Series 2018 A, RB                                                                          | CUSIP: 645912EX0<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    100000 | PA      | $104471.87    | 0.11%             | 2052-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp. (Purple Line) (Green Bonds)                                                          | Maryland Economic Development Corp. (Purple Line) (Green Bonds), Series 2022 A, RB                                                               | CUSIP: 57422JBH0<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1048096.70   | 1.10%             | 2028-11-12      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts (State of) Housing Finance Agency (Sustainability Bonds)                                                   | Massachusetts (State of) Housing Finance Agency (Sustainability Bonds), Series 2020 D-1, RB                                                      | CUSIP: 57587GCG8<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1309676.00   | 1.37%             | 2055-12-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Miami-Dade (County of), FL Health Facilities Authority (Nicklaus Children's Hospital)                                    | Miami-Dade (County of), FL Health Facilities Authority (Nicklaus Children's Hospital), Series 2021 A, Ref. RB                                    | CUSIP: 59334NFB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $437394.60    | 0.46%             | 2046-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| International Falls (City of), MN                                                                                        | International Falls (City of), MN, Series 1999, Ref. RB                                                                                          | CUSIP: 459500AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $115584.30    | 0.12%             | 2029-12-01      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| Indiana (State of) Finance Authority (Ohio Valley Electrical Corp.)                                                      | Indiana (State of) Finance Authority (Ohio Valley Electrical Corp.), Series 2012 A, RB                                                           | CUSIP: 45470CAG4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $973700.70    | 1.02%             | 2030-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| New Jersey (State of) Economic Development Authority (Newark Downtown District Management Corp.)                         | New Jersey (State of) Economic Development Authority (Newark Downtown District Management Corp.), Series 2019, Ref. RB                           | CUSIP: 64577B5Z3<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |     83000 | PA      | $88839.43     | 0.09%             | 2037-06-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp.                                                                                      | Maryland Economic Development Corp., Series 2022, RB                                                                                             | CUSIP: 57422JBZ0<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2076860.40   | 2.17%             | 2052-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Minnesota (State of) Housing Finance Agency                                                                              | Minnesota (State of) Housing Finance Agency, Series 2013 B-1, RB                                                                                 | CUSIP: 60416SDE7<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1058726.76   | 1.11%             | 2044-08-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| New York (State of) Dormitory Authority (Montefiore Obligated Group)                                                     | New York (State of) Dormitory Authority (Montefiore Obligated Group), Series 2020 A, Ref. RB                                                     | CUSIP: 64990GZQ8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1222837.20   | 1.28%             | 2045-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Little Canada (City of), MN (PHS/Mayfield LLC)                                                                           | Little Canada (City of), MN (PHS/Mayfield LLC), Series 2010, Ref. RB                                                                             | CUSIP: 53702CAR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $238408.73    | 0.25%             | 2030-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp. (Green Bonds)                                                                          | Florida Development Finance Corp. (Green Bonds), Series 2019 B, RB                                                                               | CUSIP: 34061YAH3<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $891722.20    | 0.93%             | 2049-01-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Miami-Dade (County of), FL                                                                                               | Miami-Dade (County of), FL, Series 2021, RB                                                                                                      | CUSIP: 59334DMQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1915479.00   | 2.00%             | 2046-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Farmington (City of), NM (San Juan and Four Corners)                                                                     | Farmington (City of), NM (San Juan and Four Corners), Series 2016 B, Ref. RB                                                                     | CUSIP: 311450FW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1615286.80   | 1.69%             | 2033-04-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Broward (County of), FL                                                                                                  | Broward (County of), FL, Series 2022 A, RB                                                                                                       | CUSIP: 115117NH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $992608.70    | 1.04%             | 2045-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                                                                     | Triborough Bridge & Tunnel Authority, Series 2022 C, RB                                                                                          | CUSIP: 89602HDP9<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1078190.90   | 1.13%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Development and Housing Agency (Fifth + Broadway Development)                                               | Metropolitan Development and Housing Agency (Fifth + Broadway Development), Series 2018, RB                                                      | CUSIP: 591874AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100976.80    | 0.11%             | 2036-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Atlanta (City of), GA (Beltline)                                                                                         | Atlanta (City of), GA (Beltline), Series 2016 A, Ref. RB                                                                                         | CUSIP: 047849EP5<br>LEI: 549300GHLQ0J51NUBM84 | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1276957.51   | 1.34%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire (State of) Business Finance Authority (Covanta Green Bonds)                                                | New Hampshire (State of) Business Finance Authority (Covanta Green Bonds), Series 2020 B, Ref. RB                                                | CUSIP: 63607YAJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $811183.20    | 0.85%             | 2045-07-01      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| New York (State of) Dormitory Authority                                                                                  | New York (State of) Dormitory Authority, Series 2020 A, RB                                                                                       | CUSIP: 64990GYC0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $908279.60    | 0.95%             | 2053-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dakota (County of), MN Community Development Agency (Sanctuary at Est St. Paul)                                          | Dakota (County of), MN Community Development Agency (Sanctuary at Est St. Paul), Series 2015, RB                                                 | CUSIP: 23409VEK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $1774640.90   | 1.86%             | 2035-08-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Arizona (State of) Industrial Development Authority (Mater Academy of Nevada Mountain Vista Campus Project)              | Arizona (State of) Industrial Development Authority (Mater Academy of Nevada Mountain Vista Campus Project), Series 2018 A, RB                   | CUSIP: 04052BGZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100285.84    | 0.10%             | 2038-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Missouri (State of) Health & Educational Facilities Authority (Maryville University St. Louis)                           | Missouri (State of) Health & Educational Facilities Authority (Maryville University St. Louis), Series 2019 A, RB                                | CUSIP: 60636ASB0<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    500000 | PA      | $512821.95    | 0.54%             | 2045-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority                                                                            | Wisconsin (State of) Public Finance Authority, Series 2019 A, RB                                                                                 | CUSIP: 74439YBY6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100743.58    | 0.11%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oconee (County of), GA Industrial Development Authority (Presbyterian Village Athens)                                    | Oconee (County of), GA Industrial Development Authority (Presbyterian Village Athens), Series 2018 A-2, RB                                       | CUSIP: 67556TDA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $157403.14    | 0.16%             | 2053-12-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| New York (City of), NY                                                                                                   | New York (City of), NY, Series 2018 E-1, GO Bonds                                                                                                | CUSIP: 64966MXM6<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $980183.40    | 1.02%             | 2042-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts (Commonwealth of) Transportation Fund (Sustainability Bonds)                                               | Massachusetts (Commonwealth of) Transportation Fund (Sustainability Bonds), Series 2022, RB                                                      | CUSIP: 57604TKC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2173695.20   | 2.27%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago (City of), IL Transit Authority                                                                                  | Chicago (City of), IL Transit Authority, Series 2022 A, Ref. RB                                                                                  | CUSIP: 16772PDM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022872.90   | 1.07%             | 2052-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| St. Paul (City of), MN Port Authority                                                                                    | St. Paul (City of), MN Port Authority, Series 2007 1, RB                                                                                         | CUSIP: 79304NFW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1310000 | PA      | $1310265.41   | 1.37%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| St. Louis (City of), MN Park Economic Development Authority (Hoigaard Village)                                           | St. Louis (City of), MN Park Economic Development Authority (Hoigaard Village), Series 2010, RB                                                  | CUSIP: 791747BJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $49951.06     | 0.05%             | 2023-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Thruway Authority                                                                                         | New York State Thruway Authority, Series 2022, RB                                                                                                | CUSIP: 650028ZQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1063965.10   | 1.11%             | 2055-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California (State of) Public Finance Authority (Enso Village) (Green Bonds)                                              | California (State of) Public Finance Authority (Enso Village) (Green Bonds), Series 2021, RB                                                     | CUSIP: 13057GAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1040593.38   | 1.09%             | 2051-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| St. Paul (City of), MN Housing & Redevelopment Authority                                                                 | St. Paul (City of), MN Housing & Redevelopment Authority, Series 2004, RB                                                                        | CUSIP: 792904EX8<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    233000 | PA      | $208274.04    | 0.22%             | 2029-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Maricopa (County of), AZ Industrial Development Authority (Benjamin Franklin Charter School)                             | Maricopa (County of), AZ Industrial Development Authority (Benjamin Franklin Charter School), Series 2018, RB                                    | CUSIP: 56681NCW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023694.20   | 1.07%             | 2052-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Stillwater (City of), MN (Orleans Homes)                                                                                 | Stillwater (City of), MN (Orleans Homes), Series 2007, RB                                                                                        | CUSIP: 860770BF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $879269.31    | 0.92%             | 2032-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| California (State of) Community Choice Financing Authority (Green Bonds)                                                 | California (State of) Community Choice Financing Authority (Green Bonds), Series 2021 B-1, RB                                                    | CUSIP: 13013JAP1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2715090.40   | 2.84%             | 2052-02-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Washington (State of) Economic Development Finance Authority (Green Bonds)                                               | Washington (State of) Economic Development Finance Authority (Green Bonds), Series 2020 A, RB                                                    | CUSIP: 93975YAH4<br>LEI: 549300TQ7IXFA28IYO51 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1948154.20   | 2.04%             | 2040-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Somers (Village of), WI                                                                                                  | Somers (Village of), WI, Series 2018 B, Ref. RB                                                                                                  | CUSIP: 83459TAH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1235000 | PA      | $1251695.22   | 1.31%             | 2036-06-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority (North Carolina Leadership Academy)                                        | Wisconsin (State of) Public Finance Authority (North Carolina Leadership Academy), Series 2019, RB                                               | CUSIP: 74442EEF3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    100000 | PA      | $94302.30     | 0.10%             | 2039-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority                                                                            | Wisconsin (State of) Public Finance Authority, Series 2019 A, RB                                                                                 | CUSIP: 74442PLX1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    100000 | PA      | $89511.35     | 0.09%             | 2044-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Henderson (City of), KY (Pratt Paper LLC)                                                                                | Henderson (City of), KY (Pratt Paper LLC), Series 2022 B, RB                                                                                     | CUSIP: 425099AD0<br>LEI: 549300UJ32J1O26W1T80 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $911017.90    | 0.95%             | 2042-01-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                                                                     | Colorado Health Facilities Authority, Series 2022, RB                                                                                            | CUSIP: 19648FWU4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1544871.60   | 1.62%             | 2052-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Boone (County of), MO (Boone Hospital Center)                                                                            | Boone (County of), MO (Boone Hospital Center), Series 2016, Ref. RB                                                                              | CUSIP: 098867FW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $835999.38    | 0.87%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Geisinger Authority (Geisinger Health System)                                                                            | Geisinger Authority (Geisinger Health System), Series 2020, Ref. RB                                                                              | CUSIP: 368497JV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2415000 | PA      | $2194555.18   | 2.29%             | 2050-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority Sales Tax Revenue                                                                   | Triborough Bridge & Tunnel Authority Sales Tax Revenue, Series 2022, RB                                                                          | CUSIP: 896035BD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2197442.40   | 2.30%             | 2052-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey (State of) Educational Facilities Authority (Stevens Institute of Technology) (Green Bonds)                   | New Jersey (State of) Educational Facilities Authority (Stevens Institute of Technology) (Green Bonds), Series 2020 A, RB                        | CUSIP: 6460666J4<br>LEI: 549300UTOO4X537XXG70 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3070244.70   | 3.21%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia (Green Bonds)                                                                                       | District of Columbia (Green Bonds), Series 2022 A, RB                                                                                            | CUSIP: 25483VZZ0<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2748267.75   | 2.87%             | 2034-08-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                                                                | New Jersey Economic Development Authority, Series 2022, RB                                                                                       | CUSIP: 64577XEE2<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023875.40   | 1.07%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority                                                                            | Wisconsin (State of) Public Finance Authority, Series 2019 A, RB                                                                                 | CUSIP: 74442PLY9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    100000 | PA      | $87627.74     | 0.09%             | 2054-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Cokato (City of), MN (Cokato Charitable Trust)                                                                           | Cokato (City of), MN (Cokato Charitable Trust), Series 2006 A, Ref. RB                                                                           | CUSIP: 192634CA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $120042.10    | 0.13%             | 2026-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Hayward (City of), MN (St. John's Lutheran Home of Albert Lea)                                                           | Hayward (City of), MN (St. John's Lutheran Home of Albert Lea), Series 2014, Ref. RB                                                             | CUSIP: 421307AM1<br>LEI: 549300YF6QD4DXUDGL81 | Long             | DBT              | MUN               | US        |    500000 | PA      | $338740.45    | 0.35%             | 2044-10-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| State of California                                                                                                      | State of California, Series 2022, GO Bonds                                                                                                       | CUSIP: 13063DS90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1134726.60   | 1.19%             | 2047-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California (State of) Pollution Control Financing Authority (San Diego County Water Authority)                           | California (State of) Pollution Control Financing Authority (San Diego County Water Authority), Series 2019, Ref. RB                             | CUSIP: 13054WAQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1520897.57   | 1.59%             | 2045-11-21      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp. (Green Bonds)                                                                         | New York Liberty Development Corp. (Green Bonds), Series 2021 A, Ref. RB                                                                         | CUSIP: 649519DV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $705672.00    | 0.74%             | 2046-11-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Washington (State of) Health Care Facilities Authority (Virginia Mason Medical Center)                                   | Washington (State of) Health Care Facilities Authority (Virginia Mason Medical Center), Series 2017, Ref. RB                                     | CUSIP: 93978HSP1<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   2745000 | PA      | $2827548.19   | 2.96%             | 2035-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York (State of) Housing Finance Agency (Sustainability Bonds)                                                        | New York (State of) Housing Finance Agency (Sustainability Bonds), Series 2019 P, RB                                                             | CUSIP: 64987DS54<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $733404.10    | 0.77%             | 2049-11-01      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp. (Sustainable Development)                                                        | New York City Housing Development Corp. (Sustainable Development), Series 2020 A-1-C, RB                                                         | CUSIP: 64972EPZ6<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $706244.90    | 0.74%             | 2045-11-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Oconee (County of), GA Industrial Development Authority (Presbyterian Village Athens)                                    | Oconee (County of), GA Industrial Development Authority (Presbyterian Village Athens), Series 2018 A-1, RB                                       | CUSIP: 67556TCZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $202485.73    | 0.21%             | 2053-12-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Maplewood (City of), MN (VOA Care Centers)                                                                               | Maplewood (City of), MN (VOA Care Centers), Series 2005 A, Ref. RB                                                                               | CUSIP: 565562BY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $263793.78    | 0.28%             | 2024-10-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Chisago (City of), MN (CDL Homes LLC)                                                                                    | Chisago (City of), MN (CDL Homes LLC), Series 2013 B, RB                                                                                         | CUSIP: 17012CAT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001641.10   | 1.05%             | 2043-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Pollution Control Corp. (Southern California Edison)                                                     | Maricopa County Pollution Control Corp. (Southern California Edison), Series 2000, Ref. RB                                                       | CUSIP: 566854EM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $762042.00    | 0.80%             | 2035-06-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp. (Green Bonds)                                                                         | New York Liberty Development Corp. (Green Bonds), Series 2021 A, Ref. RB                                                                         | CUSIP: 649519ED3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $774541.60    | 0.81%             | 2041-11-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Clear Lake (City of), IA (Timbercrest Apartments, LLC)                                                                   | Clear Lake (City of), IA (Timbercrest Apartments, LLC), Series 2018, RB                                                                          | CUSIP: 184635AK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $90652.21     | 0.09%             | 2048-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency, Inc. (Sustainability Bonds)                                                                        | Capital Trust Agency, Inc. (Sustainability Bonds), Series 2021, RB                                                                               | CUSIP: 14052WEC7<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1460993.00   | 1.53%             | 2051-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                                                                      | City of New York NY, Series 2022, GO Bonds                                                                                                       | CUSIP: 64966QL57<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1106870.30   | 1.16%             | 2047-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority (Green Bonds)                                                                      | Metropolitan Transportation Authority (Green Bonds), Series 2020 C-1, RB                                                                         | CUSIP: 59261AG50<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2020028.20   | 2.11%             | 2055-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                                                                     | Triborough Bridge & Tunnel Authority, Series 2021, RB                                                                                            | CUSIP: 89602HBY2<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1421911.20   | 1.49%             | 2051-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Stillwater (City of), MN (Orleans Homes)                                                                                 | Stillwater (City of), MN (Orleans Homes), Series 2007, RB                                                                                        | CUSIP: 860770BE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $475104.47    | 0.50%             | 2042-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority (Green Bonds)                                                                                   | Public Finance Authority (Green Bonds), Series 2021, RB                                                                                          | CUSIP: 74442PTF2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2540000 | PA      | $2010741.98   | 2.10%             | 2051-09-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-30

**Name of Applicant:** AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds)

**Signature:** Sheri Morris

**Name of Signer:** Sheri Morris

**Title:** President