# EDGAR Filing Document

**Accession Number:** 0001418144
**File Stem:** 0001418144-26-000132
**Filing Date:** 2026-4
**Character Count:** 141771
**Document Hash:** f8704c43b5561196cf0a3cb9b2410527
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001418144-26-000132.hdr.sgml**: 20260401

**ACCESSION NUMBER**: 0001418144-26-000132

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260401

**DATE AS OF CHANGE**: 20260401

**PERIOD START**: 20261031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** INVESCO ACTIVELY MANAGED EXCHANGE-TRADED FUND TRUST
- **CENTRAL INDEX KEY:** 0001418144

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22148
- **FILM NUMBER:** 26825679

**BUSINESS ADDRESS:**
- **STREET 1:** 3500 LACEY ROAD
- **STREET 2:** SUITE 700
- **CITY:** DOWNERS GROVE
- **STATE:** IL
- **ZIP:** 60515
- **BUSINESS PHONE:** 800-983-0903

**MAIL ADDRESS:**
- **STREET 1:** 3500 LACEY ROAD
- **STREET 2:** SUITE 700
- **CITY:** DOWNERS GROVE
- **STATE:** IL
- **ZIP:** 60515

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Powershares Actively Managed Exchange-Traded Fund Trust
- **DATE OF NAME CHANGE:** 20071109

## Series and Classes Contracts Data

### Invesco Rochester High Yield Municipal ETF (Series ID: S000078943)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000239745 | Invesco Rochester High Yield Municipal ETF | IROC            |

## Nport-Ex

Schedule of Investments

**Invesco Intermediate Municipal ETF (INTM)**

January 31, 2026

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Municipal Obligations-103.76%** |  |  |  |  |
| **Alabama-3.79%** |  |  |  |  |
| Baldwin (County of), AL Industrial Development Authority, Series 2025, RB<sup>(a)(b)(c)</sup> | 4.63% | 06/01/2032 | $250 | &nbsp;&nbsp; $252071 |
| Black Belt Energy Gas District, Series 2025 G, RB | 5.00% | 10/01/2035 | 1500 | &nbsp;&nbsp; 1613500 |
| Southeast Energy Authority, A Cooperative District (No. 1), Series 2021 A, RB<sup>(c)</sup> | 4.00% | 10/01/2028 | 230 | &nbsp;&nbsp; 234430 |
| Southeast Energy Authority, A Cooperative District (No. 2), Series 2024 A, RB | 5.00% | 11/01/2035 | 1500 | &nbsp;&nbsp; 1598125 |
| Southeast Energy Authority, A Cooperative District (No. 3), Series 2022 A-1, RB<sup>(c)</sup> | 5.50% | 12/01/2029 | 120 | &nbsp;&nbsp; 128350 |
|  |  |  |  | &nbsp;&nbsp; 3826476 |
| **Alaska-0.72%** |  |  |  |  |
| Alaska Housing Finance Corp. (Veterans Mortgage), First Series 2025, RB, (CEP - GNMA) | 4.65% | 12/01/2042 | 700 | &nbsp;&nbsp; 722419 |
| **Arizona-1.54%** |  |  |  |  |
| Glendale (City of), AZ Industrial Development Authority (Midwestern University), Series 2025, RB | 5.00% | 05/15/2043 | 500 | &nbsp;&nbsp; 535133 |
| &nbsp;&nbsp;&nbsp; La Paz (County of), AZ Industrial Development Authority (Charter School Solutions- Harmony Public <br> Schools), Series 2018 A, RB<br>| 5.00% | 02/15/2038 | 600 | &nbsp;&nbsp; 610277 |
| &nbsp;&nbsp;&nbsp; Maricopa (County of), AZ Industrial Development Authority (Banner Health Obligated Group), <br> Series 2016, Ref. RB<br>| 5.00% | 01/01/2038 | 210 | &nbsp;&nbsp; 213620 |
| &nbsp;&nbsp;&nbsp; Phoenix (City of), AZ Industrial Development Authority (The) (Great Hearts Academies), Series 2016, <br> Ref. RB<br>| 5.00% | 07/01/2036 | 40 | &nbsp;&nbsp; 40012 |
| Phoenix Civic Improvement Corp. (Green Bonds), Series 2020, RB | 5.00% | 07/01/2040 | 150 | &nbsp;&nbsp; 160684 |
|  |  |  |  | &nbsp;&nbsp; 1559726 |
| **California-6.12%** |  |  |  |  |
| California (State of) Community Choice Financing Authority (Green Bonds), Series 2023 C, RB<sup>(c)</sup> | 5.25% | 10/01/2031 | 1250 | &nbsp;&nbsp; 1330552 |
| &nbsp;&nbsp;&nbsp; California (State of) County Tobacco Securitization Agency (Los Angeles County Securitization Corp.), <br> Series 2020 A, Ref. RB<br>| 4.00% | 06/01/2049 | 200 | &nbsp;&nbsp; 176015 |
| &nbsp;&nbsp;&nbsp; California (State of) County Tobacco Securitization Agency (Los Angeles County Securitization Corp.), <br> Series 2020 B-1, Ref. RB<br>| 5.00% | 06/01/2049 | 35 | &nbsp;&nbsp; 34802 |
| California (State of) Pollution Control Financing Authority (Plant Bonds), Series 2012, RB<sup>(a)(b)</sup> | 5.00% | 07/01/2037 | 250 | &nbsp;&nbsp; 251011 |
| &nbsp;&nbsp;&nbsp; California (State of) Pollution Control Financing Authority (San Diego County Water Authority), <br> Series 2019, Ref. RB<sup>(a)</sup><br>| 5.00% | 11/21/2045 | 985 | &nbsp;&nbsp; 1000050 |
| &nbsp;&nbsp;&nbsp; California (State of) School Finance Authority (Alliance for College-Ready Public Schools), Series 2016, <br> Ref. RB<sup>(a)</sup><br>| 5.00% | 07/01/2036 | 250 | &nbsp;&nbsp; 250193 |
| California (State of) School Finance Authority (KIPP LA), Series 2017 A, RB<sup>(a)</sup> | 5.00% | 07/01/2037 | 150 | &nbsp;&nbsp; 152190 |
| California Municipal Finance Authority, Series 2025 A-1, RB | 4.33% | 11/20/2040 | 998 | &nbsp;&nbsp; 998456 |
| M-S-R Energy Authority, Series 2009 C, RB | 7.00% | 11/01/2034 | 1500 | &nbsp;&nbsp; 1844605 |
| Silicon Valley Tobacco Securitization Authority (Santa Clara), Series 2007 A, RB<sup>(d)</sup> | 0.00% | 06/01/2036 | 250 | &nbsp;&nbsp; 140951 |
|  |  |  |  | &nbsp;&nbsp; 6178825 |
| **Colorado-3.50%** |  |  |  |  |
| Broomfield (City & County of), CO, Series 2026, COP | 5.00% | 02/01/2045 | 750 | &nbsp;&nbsp; 805470 |
| Colorado (State of) Health Facilities Authority (CommonSpirit Health), Series 2019 A, Ref. RB | 4.00% | 08/01/2039 | 1500 | &nbsp;&nbsp; 1500803 |
| Denver City & County School District No. 1, Series 2017, GO Bonds | 5.00% | 12/01/2038 | 160 | &nbsp;&nbsp; 162666 |
| Park Creek Metropolitan District, Series 2025, Ref. RB, (INS - AGI)<sup>(e)</sup> | 5.00% | 12/01/2041 | 750 | &nbsp;&nbsp; 810224 |
| Raindance Metropolitan District No. 2, Series 2024, Ref. GO Bonds, (INS - BAM)<sup>(e)</sup> | 5.00% | 12/01/2039 | 230 | &nbsp;&nbsp; 249080 |
|  |  |  |  | &nbsp;&nbsp; 3528243 |
| **Connecticut-1.10%** |  |  |  |  |
| Connecticut (State of), Series 2025, Ref. RB | 5.00% | 07/01/2043 | 1000 | &nbsp;&nbsp; 1108574 |
| **Delaware-1.01%** |  |  |  |  |
| Delaware State Economic Development Authority (NRG Energy), Series 2020 B, Ref. RB<sup>(c)</sup> | 4.00% | 10/01/2035 | 1000 | &nbsp;&nbsp; 1019316 |
| **District of Columbia-1.02%** |  |  |  |  |
| District of Columbia Tobacco Settlement Financing Corp., Series 2001, RB | 6.75% | 05/15/2040 | 1000 | &nbsp;&nbsp; 1033110 |
| **Florida-9.03%** |  |  |  |  |
| Bellalago Educational Facilities Benefit District, Series 2014, Ref. RB | 4.50% | 05/01/2033 | 125 | &nbsp;&nbsp; 125105 |
| Canaveral Port Authority, Series 2018 A, RB<sup>(b)</sup> | 5.00% | 06/01/2045 | 1500 | &nbsp;&nbsp; 1513560 |
| Cape Coral (City of), FL, Series 2017, Ref. RB, (INS - BAM)<sup>(e)</sup> | 4.00% | 10/01/2042 | 1500 | &nbsp;&nbsp; 1469803 |
| &nbsp;&nbsp;&nbsp; Charlotte (County of), FL Industrial Development Authority (Town & Country Utilities), Series 2025, <br> RB<sup>(b)</sup><br>| 5.13% | 10/01/2035 | 150 | &nbsp;&nbsp; 156109 |
| Delray Beach (City of), FL, Series 2025, RB | 5.00% | 10/01/2039 | 200 | &nbsp;&nbsp; 229445 |
| East Central Regional Wastewater Treatment Facilities Operation Board, Series 2017, Ref. RB | 5.00% | 10/01/2036 | 100 | &nbsp;&nbsp; 103375 |
| Florida (State of) Municipal Power Agency (All-Requirements Power Supply), Series 2025, Ref. RB | 5.00% | 10/01/2035 | 150 | &nbsp;&nbsp; 171658 |

---

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

------

**Invesco Intermediate Municipal ETF (INTM)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Florida-(continued)** |  |  |  |  |
| Florida Development Finance Corp. (Waste Project USA, Inc.), Series 2025, RB<sup>(a)(b)(c)</sup> | 4.45% | 07/01/2030 | $1000 | &nbsp;&nbsp; $1012472 |
| Greater Orlando Aviation Authority, Series 2025, RB<sup>(b)</sup> | 5.25% | 11/01/2034 | 1675 | &nbsp;&nbsp; 1805277 |
| Greater Orlando Aviation Authority, Series 2025, RB<sup>(b)</sup> | 5.50% | 11/01/2036 | 1000 | &nbsp;&nbsp; 1085921 |
| Miami-Dade (County of), FL Expressway Authority, Series 2010 A, RB | 5.00% | 07/01/2040 | 120 | &nbsp;&nbsp; 120591 |
| Okaloosa (County of), FL (Air Force Enlisted Village), Series 2025, RB<sup>(a)</sup> | 4.38% | 05/15/2035 | 500 | &nbsp;&nbsp; 509809 |
| &nbsp;&nbsp;&nbsp; Palm Beach (County of), FL Health Facilities Authority (ACTS Retirement-Life Communities, Inc.), <br> Series 2016, Ref. RB<br>| 5.00% | 11/15/2032 | 200 | &nbsp;&nbsp; 202924 |
| Peace River Manasota Regional Water Supply Authority, Series 2025 A, RB | 5.00% | 10/01/2035 | 150 | &nbsp;&nbsp; 177219 |
| Port Orange (City of), FL, Series 2025, Ref. RB | 5.00% | 10/01/2038 | 225 | &nbsp;&nbsp; 255246 |
| South Miami (City of), FL, Series 2025, RB | 5.00% | 08/15/2035 | 150 | &nbsp;&nbsp; 174148 |
|  |  |  |  | &nbsp;&nbsp; 9112662 |
| **Georgia-3.07%** |  |  |  |  |
| Atlanta (City of), GA, Series 2015, Ref. RB | 5.00% | 11/01/2040 | 250 | &nbsp;&nbsp; 250717 |
| Columbus Medical Center Hospital Authority, Series 2019, RB<sup>(c)</sup> | 5.00% | 07/01/2026 | 1500 | &nbsp;&nbsp; 1503096 |
| Gwinnett (County of), GA Development Authority, Series 2009, VRD RB<sup>(f)</sup> | 2.47% | 10/01/2033 | 700 | &nbsp;&nbsp; 700000 |
| Private Colleges & Universities Authority (Mercer University), Series 2015, RB | 5.00% | 10/01/2045 | 395 | &nbsp;&nbsp; 392242 |
| Savannah Georgia Convention Center Authority, Series 2025, RB, (INS - AGI)<sup>(e)</sup> | 5.00% | 06/01/2037 | 225 | &nbsp;&nbsp; 255302 |
|  |  |  |  | &nbsp;&nbsp; 3101357 |
| **Guam-0.34%** |  |  |  |  |
| Guam (Territory of) Waterworks Authority, Series 2025 A, RB | 5.00% | 07/01/2035 | 300 | &nbsp;&nbsp; 342544 |
| **Hawaii-0.23%** |  |  |  |  |
| Hawaii (State of), Series 2015, Ref. RB<sup>(a)</sup> | 5.00% | 01/01/2035 | 230 | &nbsp;&nbsp; 228993 |
| **Idaho-1.70%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Idaho (State of) Health Facilities Authority (St. Luke's Health System), Series 2018 C, VRD Ref. RB, <br> (LOC - U.S. Bank N.A.)<sup>(f)(g)</sup><br>| 2.05% | 03/01/2048 | 1000 | &nbsp;&nbsp; 1000000 |
| Idaho (State of) Housing & Finance Association, Series 2015, RB<sup>(a)</sup> | 5.00% | 12/01/2036 | 240 | &nbsp;&nbsp; 240093 |
| Idaho (State of) Housing & Finance Association, Series 2022 A, RB<sup>(a)</sup> | 4.00% | 05/01/2032 | 135 | &nbsp;&nbsp; 129281 |
| Idaho (State of) Housing & Finance Association, Series 2025 C, RB, (CEP - GNMA) | 6.25% | 01/01/2056 | 300 | &nbsp;&nbsp; 343759 |
|  |  |  |  | &nbsp;&nbsp; 1713133 |
| **Illinois-5.60%** |  |  |  |  |
| Chicago (City of), IL (O'Hare International Airport), Series 2017 D, RB | 5.25% | 01/01/2042 | 1000 | &nbsp;&nbsp; 1015402 |
| Chicago (City of), IL Midway International Airport, Series 2025 B, Ref. RB | 5.00% | 01/01/2041 | 750 | &nbsp;&nbsp; 835412 |
| Cook (County of), IL School District No. 102 (La Grange), Series 2025, GO Bonds, (INS - BAM)<sup>(e)</sup> | 5.00% | 12/15/2041 | 365 | &nbsp;&nbsp; 398650 |
| Illinois (County of), IL School District No. 102 (La Grange), Series 2025, GO Bonds, (INS - BAM)<sup>(e)</sup> | 5.00% | 12/15/2040 | 385 | &nbsp;&nbsp; 425761 |
| Illinois (State of), Series 2016, GO Bonds | 4.00% | 06/01/2035 | 300 | &nbsp;&nbsp; 300333 |
| Illinois (State of), Series 2020, GO Bonds | 5.50% | 05/01/2039 | 150 | &nbsp;&nbsp; 161305 |
| Illinois (State of) (Rebuild Illinois Program), Series 2019 B, GO Bonds | 4.00% | 11/01/2037 | 1000 | &nbsp;&nbsp; 1002720 |
| Illinois (State of) Toll Highway Authority, Series 2014 C, RB | 5.00% | 01/01/2038 | 200 | &nbsp;&nbsp; 200288 |
| Illinois (State of) Toll Highway Authority, Series 2016 B, RB | 5.00% | 01/01/2041 | 230 | &nbsp;&nbsp; 231308 |
| Joliet (City of), IL, Series 2025, RB, (INS - BAM)<sup>(e)</sup> | 5.00% | 01/01/2042 | 1000 | &nbsp;&nbsp; 1080912 |
|  |  |  |  | &nbsp;&nbsp; 5652091 |
| **Indiana-0.39%** |  |  |  |  |
| Kokomo (City of), IN (Silver Birch at KOKOMO), Series 2017, RB | 5.75% | 01/01/2034 | 150 | &nbsp;&nbsp; 146524 |
| Kokomo (City of), IN (Silver Birch at KOKOMO), Series 2017, RB | 5.88% | 01/01/2037 | 250 | &nbsp;&nbsp; 247337 |
|  |  |  |  | &nbsp;&nbsp; 393861 |
| **Iowa-0.92%** |  |  |  |  |
| Iowa (State of) Finance Authority (Alcoa, Inc.), Series 2012, RB | 4.75% | 08/01/2042 | 925 | &nbsp;&nbsp; 925154 |
| **Kentucky-2.33%** |  |  |  |  |
| Kentucky (Commonwealth of) Public Energy Authority, Series 2025 B, RB | 5.00% | 12/01/2033 | 1000 | &nbsp;&nbsp; 1048806 |
| &nbsp;&nbsp;&nbsp; Louisville (City of) & Jefferson (County of), KY Metropolitan Government (Louisville Gas and Electric <br> Co.), Series 2007, Ref. VRD RB<sup>(f)</sup><br>| 2.30% | 06/01/2033 | 1300 | &nbsp;&nbsp; 1300000 |
|  |  |  |  | &nbsp;&nbsp; 2348806 |
| **Louisiana-2.67%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Louisiana (State of) Local Government Environmental Facilities & Community Development Authority, <br> Series 2015 A, Ref. RB<br>| 6.00% | 11/15/2030 | 200 | &nbsp;&nbsp; 200204 |
| New Orleans Aviation Board, Series 2024 B, Ref. RB<sup>(b)</sup> | 5.25% | 01/01/2041 | 1500 | &nbsp;&nbsp; 1635498 |

---

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

------

**Invesco Intermediate Municipal ETF (INTM)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Louisiana-(continued)** |  |  |  |  |
| St. James (Parish of), LA (Nustar Logistics, L.P.), Series 2010 2, RB<sup>(a)</sup> | 6.35% | 07/01/2040 | $500 | &nbsp;&nbsp; $550148 |
| St. James (Parish of), LA (Nustar Logistics, L.P.), Series 2011, RB<sup>(c)</sup> | 3.70% | 06/01/2030 | 300 | &nbsp;&nbsp; 306370 |
|  |  |  |  | &nbsp;&nbsp; 2692220 |
| **Maine-1.06%** |  |  |  |  |
| Maine (State of) Finance Authority (Casella Waste Systems, Inc.), Series 2015, RB<sup>(a)(b)</sup> | 5.00% | 08/01/2035 | 1000 | &nbsp;&nbsp; 1071688 |
| **Maryland-0.99%** |  |  |  |  |
| Tender Option Bond Trust Receipts/Certificates, Series 2024, VRD RB<sup>(a)(f)</sup> | 2.22% | 07/01/2032 | 1000 | &nbsp;&nbsp; 1000000 |
| **Massachusetts-0.54%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Massachusetts (Commonwealth of) Development Finance Agency (Seven Hills Foundation), <br> Series 2025, Ref. RB<br>| 6.00% | 09/01/2045 | 500 | &nbsp;&nbsp; 549440 |
| **Michigan-2.16%** |  |  |  |  |
| Great Lakes Water Authority, Series 2016, Ref .RB, (INS - BAM)<sup>(e)</sup> | 5.00% | 07/01/2036 | 100 | &nbsp;&nbsp; 100868 |
| Lansing Board of Water & Light, Series 2026 A, Ref. RB<sup>(c)(h)</sup> | 5.00% | 07/01/2031 | 1000 | &nbsp;&nbsp; 1102733 |
| Lansing School District, Series 2016 I, GO Bonds | 5.00% | 05/01/2037 | 75 | &nbsp;&nbsp; 75221 |
| Wayne (County of), MI Airport Authority (Detroit Metropolitan Airport), Series 2025, Ref. RB | 5.00% | 12/01/2043 | 825 | &nbsp;&nbsp; 900411 |
|  |  |  |  | &nbsp;&nbsp; 2179233 |
| **Minnesota-1.25%** |  |  |  |  |
| Hennepin (County of), MN, Series 2017 C, GO Bonds | 5.00% | 12/01/2037 | 125 | &nbsp;&nbsp; 126948 |
| Rochester (City of), MN, Series 2019, VRD RB, (LOC - United Fidelity Bank)<sup>(f)(g)</sup> | 2.31% | 05/01/2061 | 500 | &nbsp;&nbsp; 500000 |
| St. Cloud (City of), MN (CentraCare Health System), Series 2016 A, Ref. RB | 5.00% | 05/01/2046 | 630 | &nbsp;&nbsp; 630328 |
|  |  |  |  | &nbsp;&nbsp; 1257276 |
| **Mississippi-0.50%** |  |  |  |  |
| Mississippi Business Finance Corp., Series 2009, VRD RB<sup>(f)</sup> | 1.90% | 12/01/2030 | 500 | &nbsp;&nbsp; 500000 |
| **Missouri-1.77%** |  |  |  |  |
| Health & Educational Facilities Authority of the State of Missouri, Series 2018 F, VRD RB<sup>(f)</sup> | 2.10% | 06/01/2036 | 500 | &nbsp;&nbsp; 500000 |
| Kansas City Industrial Development Authority, Series 2019, RB<sup>(b)</sup> | 5.00% | 03/01/2034 | 250 | &nbsp;&nbsp; 262741 |
| &nbsp;&nbsp;&nbsp; Lee's Summit (City of), MO Industrial Development Authority (John Knox Village Obligated Group), <br> Series 2024 A, Ref. RB<br>| 5.25% | 08/15/2044 | 540 | &nbsp;&nbsp; 549008 |
| Missouri (State of) Health & Educational Facilities Authority (St. Louis University), Series 2015 A, RB | 5.00% | 10/01/2038 | 470 | &nbsp;&nbsp; 470454 |
|  |  |  |  | &nbsp;&nbsp; 1782203 |
| **Nevada-0.77%** |  |  |  |  |
| Sparks Tourism Improvement District No. 1, Series 2025, RB | 3.88% | 06/15/2028 | 775 | &nbsp;&nbsp; 779280 |
| **New Hampshire-0.89%** |  |  |  |  |
| New Hampshire (State of) Business Finance Authority, Series 2025-2A, RB | 4.22% | 11/20/2042 | 149 | &nbsp;&nbsp; 146972 |
| &nbsp;&nbsp;&nbsp; New Hampshire (State of) Health and Education Facilities Authority (Elliot Hospital), Series 2016, Ref. <br> RB<br>| 5.00% | 10/01/2038 | 750 | &nbsp;&nbsp; 755468 |
|  |  |  |  | &nbsp;&nbsp; 902440 |
| **New Jersey-5.75%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; New Jersey (State of) Economic Development Authority (The Goethals Bridge Replacement), <br> Series 2013, RB<sup>(b)</sup><br>| 5.38% | 01/01/2043 | 1175 | &nbsp;&nbsp; 1176352 |
| New Jersey (State of) Housing & Mortgage Finance Agency (Social Bonds), Series 2024 K, RB | 6.00% | 10/01/2055 | 1000 | &nbsp;&nbsp; 1090298 |
| New Jersey (State of) Transportation Trust Fund Authority, Series 2023 AA, Ref. RB | 5.00% | 06/15/2039 | 315 | &nbsp;&nbsp; 349364 |
| New Jersey Economic Development Authority, Series 2025, RB | 5.00% | 11/01/2035 | 500 | &nbsp;&nbsp; 541863 |
| New Jersey Transportation Trust Fund Authority, Series 2025 AA, RB | 5.00% | 06/15/2039 | 1000 | &nbsp;&nbsp; 1139823 |
| Newark (City of), NJ, Series 2016, GO Bonds | 4.50% | 03/15/2036 | 1275 | &nbsp;&nbsp; 1276314 |
| South Jersey Port Corp., Series 2017 B, RB<sup>(b)</sup> | 5.00% | 01/01/2037 | 225 | &nbsp;&nbsp; 231161 |
|  |  |  |  | &nbsp;&nbsp; 5805175 |
| **New York-10.86%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Build NYC Resource Corp. (East Harlem Scholars Academy Charter School) (Social Bonds), <br> Series 2022, RB<sup>(a)</sup><br>| 5.00% | 06/01/2032 | 250 | &nbsp;&nbsp; 260340 |
| Build NYC Resource Corp. (Urban Resource Insititute), Series 2025 A, RB | 4.13% | 12/01/2035 | 715 | &nbsp;&nbsp; 750452 |
| Hempstead Town Local Development Corp. (Molloy College), Series 2017, Ref. RB | 5.00% | 07/01/2038 | 150 | &nbsp;&nbsp; 152168 |
| Metropolitan Transportation Authority, Series 2020 B, VRD RB, (LOC - Royal Bank of Canada)<sup>(f)(g)</sup> | 2.08% | 11/15/2046 | 1000 | &nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp; Monroe County Industrial Development Corp. (Rochester General Hospital (The)), Series 2013 A, Ref. <br> RB<br>| 5.00% | 12/01/2037 | 1000 | &nbsp;&nbsp; 1001627 |

---

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

------

**Invesco Intermediate Municipal ETF (INTM)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **New York-(continued)** |  |  |  |  |
| New York (City of), NY, Series 2021-3, VRD GO Bonds<sup>(f)</sup> | 2.10% | 04/01/2042 | $1000 | &nbsp;&nbsp; $1000000 |
| New York (City of), NY, Subseries 2025 G-1, GO Bonds | 5.00% | 02/01/2040 | 250 | &nbsp;&nbsp; 280761 |
| New York (City of), NY Municipal Water Finance Authority, Series 2013, VRD RB<sup>(f)</sup> | 2.05% | 06/15/2050 | 1075 | &nbsp;&nbsp; 1075000 |
| New York (City of), NY Transitional Finance Authority, Subseries 2022 D-1, RB | 5.25% | 11/01/2041 | 245 | &nbsp;&nbsp; 270556 |
| &nbsp;&nbsp;&nbsp; New York (State of) Dormitory Authority (Rosewell Park Cancer Insititute Obligated Group), <br> Series 2025 A, RB, (INS - AGI)<sup>(e)</sup><br>| 5.00% | 07/01/2036 | 225 | &nbsp;&nbsp; 261046 |
| &nbsp;&nbsp;&nbsp; New York (State of) Dormitory Authority (White Plains Hospital Obligated Group), Series 2024, RB, <br> (INS - AGI)<sup>(e)</sup><br>| 5.25% | 10/01/2044 | 375 | &nbsp;&nbsp; 398869 |
| New York Liberty Development Corp. (Goldman Sachs Headquarters), Series 2005, Ref. RB | 5.25% | 10/01/2035 | 150 | &nbsp;&nbsp; 177307 |
| &nbsp;&nbsp;&nbsp; New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International <br> Airport), Series 2020, Ref. RB<sup>(b)</sup><br>| 5.25% | 08/01/2031 | 1250 | &nbsp;&nbsp; 1300309 |
| &nbsp;&nbsp;&nbsp; New York Transportation Development Corp. (Delta Air Lines, Inc. LaGuardia Airport Terminals C&D <br> Redevelopment), Series 2020, RB<sup>(b)</sup><br>| 5.00% | 10/01/2035 | 125 | &nbsp;&nbsp; 132776 |
| &nbsp;&nbsp;&nbsp; New York Transportation Development Corp. (Delta Air Lines, Inc. LaGuardia Airport Terminals C&D <br> Redevelopment), Series 2020, RB<sup>(b)</sup><br>| 4.38% | 10/01/2045 | 500 | &nbsp;&nbsp; 473520 |
| &nbsp;&nbsp;&nbsp; New York Transportation Development Corp. (LaGuardia Airport Terminal B Redevelopment), <br> Series 2016 A, RB<sup>(b)</sup><br>| 5.00% | 07/01/2041 | 250 | &nbsp;&nbsp; 250043 |
| &nbsp;&nbsp;&nbsp; New York Transportation Development Corp. (LaGuardia Airport Terminal B Redevelopment), <br> Series 2016 A, RB<sup>(b)</sup><br>| 5.00% | 07/01/2046 | 1500 | &nbsp;&nbsp; 1499933 |
| &nbsp;&nbsp;&nbsp; New York Transportation Development Corp. (LaGuardia Airport Terminal B Redevelopment), <br> Series 2016, RB, (INS - AGI)<sup>(b)(e)</sup><br>| 4.00% | 07/01/2037 | 120 | &nbsp;&nbsp; 119717 |
| &nbsp;&nbsp;&nbsp; New York Transportation Development Corp. (Terminal 4 JFK International Airport), Series 2022, <br> RB<sup>(b)</sup><br>| 5.00% | 12/01/2029 | 150 | &nbsp;&nbsp; 161067 |
| Westchester Tobacco Asset Securitization Corp., Series 2016 B, Ref. RB | 5.00% | 06/01/2041 | 400 | &nbsp;&nbsp; 400635 |
|  |  |  |  | &nbsp;&nbsp; 10966126 |
| **North Carolina-0.53%** |  |  |  |  |
| North Carolina (State of) Medical Care Commission, Series 2025, Ref. RB | 5.00% | 10/01/2034 | 500 | &nbsp;&nbsp; 538785 |
| **Ohio-2.58%** |  |  |  |  |
| American Municipal Power, Inc. (Combined Hydroelectric), Series 2016 A, Ref. RB<sup>(c)(i)</sup> | 5.00% | 02/15/2026 | 300 | &nbsp;&nbsp; 300288 |
| American Municipal Power, Inc. (Combined Hydroelectric), Series 2025, Ref. RB | 5.00% | 02/15/2041 | 600 | &nbsp;&nbsp; 658029 |
| Franklin (County of), OH, Series 2015, RB | 5.00% | 05/15/2040 | 150 | &nbsp;&nbsp; 150322 |
| Hamilton (County of), OH (Life Enriching Communities), Series 2023, RB | 5.25% | 01/01/2038 | 225 | &nbsp;&nbsp; 240276 |
| Hilliard School District, Series 2025 B, GO Bonds | 5.00% | 12/01/2039 | 225 | &nbsp;&nbsp; 257016 |
| Ohio Air Quality Development Authority, Series 2026, RB | 4.35% | 06/30/2040 | 1000 | &nbsp;&nbsp; 1002296 |
|  |  |  |  | &nbsp;&nbsp; 2608227 |
| **Oklahoma-1.98%** |  |  |  |  |
| Tulsa Municipal Airport Trust Trustees (American Airlines, Inc.), Series 2025, Ref. RB<sup>(b)</sup> | 6.25% | 12/01/2035 | 1500 | &nbsp;&nbsp; 1742844 |
| Tulsa Municipal Airport Trust Trustees (American Airlines, Inc.), Series 2025, Ref. RB<sup>(b)</sup> | 6.25% | 12/01/2040 | 230 | &nbsp;&nbsp; 258657 |
|  |  |  |  | &nbsp;&nbsp; 2001501 |
| **Oregon-1.10%** |  |  |  |  |
| Oregon (State of), Series 2026 A, RB | 5.00% | 11/15/2043 | 1000 | &nbsp;&nbsp; 1107386 |
| **Pennsylvania-1.95%** |  |  |  |  |
| Philadelphia (City of), PA Housing Authority (PHADC Acquition Program), Series 2025, RB | 5.00% | 03/01/2036 | 1500 | &nbsp;&nbsp; 1678075 |
| School District of Philadelphia (The), Series 2018 A, GO Bonds | 5.00% | 09/01/2036 | 275 | &nbsp;&nbsp; 288151 |
|  |  |  |  | &nbsp;&nbsp; 1966226 |
| **Puerto Rico-0.46%** |  |  |  |  |
| Puerto Rico (Commonwealth of), Series 2021 A-1, GO Bonds | 4.00% | 07/01/2041 | 499 | &nbsp;&nbsp; 469037 |
| **Rhode Island-0.72%** |  |  |  |  |
| Rhode Island Health and Educational Building Corp., Series 2005, VRD RB<sup>(f)</sup> | 2.23% | 06/01/2035 | 650 | &nbsp;&nbsp; 650000 |
| Tobacco Settlement Financing Corp., Series 2015 A, Ref. RB | 5.00% | 06/01/2040 | 80 | &nbsp;&nbsp; 80009 |
|  |  |  |  | &nbsp;&nbsp; 730009 |
| **South Carolina-2.25%** |  |  |  |  |
| South Carolina (State of) Public Service Authority, Series 2016 A, Ref. RB | 5.00% | 12/01/2038 | 280 | &nbsp;&nbsp; 281509 |
| South Carolina Jobs-Economic Development Authority, Series 2025, RB<sup>(a)</sup> | 5.25% | 06/15/2034 | 1000 | &nbsp;&nbsp; 982880 |
| South Carolina Jobs-Economic Development Authority (Rolling Green Village), Series 2025, RB | 4.25% | 12/01/2031 | 1000 | &nbsp;&nbsp; 1009372 |
|  |  |  |  | &nbsp;&nbsp; 2273761 |

---

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

------

**Invesco Intermediate Municipal ETF (INTM)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Tennessee-0.50%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Knoxville (City of), TN Industrial Development Board (Maplehurst Park Apartments), Series 2025, <br> RB<sup>(a)</sup><br>| 4.25% | 11/01/2030 | $500 | &nbsp;&nbsp; $500738 |
| **Texas-10.03%** |  |  |  |  |
| Arlington Higher Education Finance Corp. (Basis Texas Charter Schools, Inc.), Series 2025, Ref. RB<sup>(a)</sup> | 5.00% | 06/15/2035 | 150 | &nbsp;&nbsp; 159449 |
| Austin (City of), TX, Series 2017 A, RB | 5.00% | 11/15/2041 | 750 | &nbsp;&nbsp; 757961 |
| Austin (City of), TX, Series 2025, Ref. GO Bonds | 5.00% | 09/01/2039 | 750 | &nbsp;&nbsp; 857508 |
| Bexar County Health Facilities Development Corp., Series 2016, Ref. RB | 4.00% | 07/15/2036 | 205 | &nbsp;&nbsp; 198581 |
| Board of Regents of the University of Texas System, Series 2026 A, Ref. RB<sup>(h)</sup> | 5.00% | 08/15/2043 | 1000 | &nbsp;&nbsp; 1113827 |
| Dallas & Fort Worth (Cities of), TX (Dallas/Fort Worth International Airport), Series 2025 A-1, RB<sup>(b)</sup> | 5.25% | 11/01/2039 | 250 | &nbsp;&nbsp; 280439 |
| &nbsp;&nbsp;&nbsp; Forney Independent School District, Series 2025, Ref. GO Bonds, <br> (CEP - Texas Permanent School Fund)<br>| 5.00% | 08/15/2035 | 150 | &nbsp;&nbsp; 177694 |
| Houston (City of), TX, Series 2024 B, RB<sup>(b)</sup> | 5.50% | 07/15/2036 | 225 | &nbsp;&nbsp; 246396 |
| Houston (City of), TX, Series 2025 A, RB<sup>(b)</sup> | 5.25% | 07/01/2036 | 175 | &nbsp;&nbsp; 202315 |
| Leander (City of), TX, Series 2025, GO Bonds | 5.00% | 08/15/2038 | 500 | &nbsp;&nbsp; 577359 |
| Mission Economic Development Corp. (Natgasoline), Series 2018, Ref. RB<sup>(a)(b)</sup> | 4.63% | 10/01/2031 | 125 | &nbsp;&nbsp; 125470 |
| Montgomery County Municipal Utility District No. 95, Series 2017, GO Bonds, (INS - AGI)<sup>(e)</sup> | 3.63% | 09/01/2037 | 380 | &nbsp;&nbsp; 370335 |
| &nbsp;&nbsp;&nbsp; New Hope Cultural Education Facilities Finance Corp. (Brazos Prebyterian Homes), Series 2025, Ref. <br> RB<br>| 5.25% | 01/01/2036 | 750 | &nbsp;&nbsp; 829393 |
| &nbsp;&nbsp;&nbsp; New Hope Cultural Education Facilities Finance Corp. (Brazos Prebyterian Homes), Series 2025, Ref. <br> RB<br>| 5.25% | 01/01/2040 | 250 | &nbsp;&nbsp; 266727 |
| New Hope Cultural Education Facilities Finance Corp. (Children Health System), Series 2025, RB | 5.00% | 08/15/2037 | 225 | &nbsp;&nbsp; 257078 |
| North Texas Tollway Authority, Series 2017 A, Ref. RB | 5.00% | 01/01/2037 | 225 | &nbsp;&nbsp; 229246 |
| San Antonio (City of), TX, Series 2026 A, RB<sup>(c)(h)</sup> | 2.90% | 12/01/2027 | 1000 | &nbsp;&nbsp; 1000767 |
| Sherman Independent School District, Series 2025, GO Bonds, (CEP - Texas Permanent School Fund) | 5.00% | 02/15/2036 | 150 | &nbsp;&nbsp; 174756 |
| Tarrant County Cultural Education Facilities Finance Corp., Series 2015, Ref. RB | 5.00% | 11/15/2040 | 500 | &nbsp;&nbsp; 500201 |
| Texas (State of), Series 2012 B, VRD GO Bonds<sup>(f)</sup> | 2.30% | 12/01/2042 | 1000 | &nbsp;&nbsp; 1000000 |
| Texas (State of), Series 2022, VRD GO Bonds, (LOC - Sumitomo Mitsui Banking)<sup>(f)(g)</sup> | 2.30% | 06/01/2053 | 400 | &nbsp;&nbsp; 400000 |
| Willow Creek Farms Municipal Utility District, Series 2025, GO Bonds, (INS - BAM)<sup>(e)</sup> | 6.50% | 03/01/2031 | 125 | &nbsp;&nbsp; 147730 |
| Willow Creek Farms Municipal Utility District, Series 2025, GO Bonds, (INS - BAM)<sup>(e)</sup> | 6.50% | 03/01/2032 | 210 | &nbsp;&nbsp; 252219 |
|  |  |  |  | &nbsp;&nbsp; 10125451 |
| **Utah-1.08%** |  |  |  |  |
| Utah Housing Corp., Series 2025 A, RB, (CEP - GNMA) | 6.50% | 07/01/2055 | 970 | &nbsp;&nbsp; 1091472 |
| **Virginia-0.15%** |  |  |  |  |
| University of Virginia, Series 2015 A-2, RB | 5.00% | 04/01/2045 | 150 | &nbsp;&nbsp; 150035 |
| **Washington-3.60%** |  |  |  |  |
| Seattle (Port of), WA, Series 2017 C, RB<sup>(b)</sup> | 5.25% | 05/01/2042 | 1000 | &nbsp;&nbsp; 1016609 |
| &nbsp;&nbsp;&nbsp; Washington (State of) Health Care Facilities Authority (Central Washington Health Services <br> Association), Series 2015, Ref. RB<br>| 5.00% | 07/01/2039 | 150 | &nbsp;&nbsp; 150049 |
| Washington (State of) Housing Finance Commission, Series 2025, Ref. RB | 4.88% | 01/01/2036 | 1000 | &nbsp;&nbsp; 1015307 |
| Washington (State of) Housing Finance Commission, Series 2025-1, RB | 4.08% | 11/20/2041 | 199 | &nbsp;&nbsp; 193462 |
| Washington (State of) Housing Finance Commission (Transforming Age), Series 2019 A, RB<sup>(a)</sup> | 5.00% | 01/01/2039 | 150 | &nbsp;&nbsp; 152484 |
| Washington Health Care Facilities Authority (Commonspirit Health), Series 2025 A, Ref. RB | 5.00% | 09/01/2040 | 1000 | &nbsp;&nbsp; 1104868 |
|  |  |  |  | &nbsp;&nbsp; 3632779 |
| **West Virginia-1.01%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; West Virginia (State of) Economic Development Authority (Commercial Metals Co.), Series 2025, <br> RB<sup>(b)(c)</sup><br>| 4.63% | 05/15/2032 | 1000 | &nbsp;&nbsp; 1023330 |
| **Wisconsin-4.20%** |  |  |  |  |
| Public Finance Authority, Series 2026, RB<sup>(a)(b)(c)(h)</sup> | 6.00% | 01/01/2031 | 500 | &nbsp;&nbsp; 500273 |
| Washington (City of), WI, Series 2025, GO Bonds, (INS - BAM)<sup>(e)</sup> | 5.00% | 03/01/2037 | 225 | &nbsp;&nbsp; 256327 |
| &nbsp;&nbsp;&nbsp; Wisconsin (State of) Health & Educational Facilities Authority (Ascension Health Credit Group), <br> Series 2016, Ref. RB<br>| 5.00% | 11/15/2035 | 150 | &nbsp;&nbsp; 150684 |
| &nbsp;&nbsp;&nbsp; Wisconsin (State of) Health & Educational Facilities Authority (Mercy Health Coporation Obligated <br> Group), Series 2026, Ref. RB<sup>(h)</sup><br>| 5.00% | 12/01/2041 | 1500 | &nbsp;&nbsp; 1644610 |

---

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

------

**Invesco Intermediate Municipal ETF (INTM)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| **Principal**<br> **Amount**<br> **(000)** | **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Wisconsin-(continued)** |  |  |  |  |  |
| Wisconsin (State of) Public Finance Authority, Series 2016, RB<sup>(a)</sup> | 5.13% | 02/01/2046 | $| 500 | &nbsp;&nbsp; $488824 |
| &nbsp;&nbsp;&nbsp; Wisconsin (State of) Public Finance Authority (KU Campus Development Corp. - Central District <br> Development), Series 2016, RB<br>| 5.00% | 03/01/2041 |  | 1195 | &nbsp;&nbsp; 1195637 |
|  |  |  |  |  | &nbsp;&nbsp; 4236355 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES<sup>(j)</sup>-103.76% <br>(Cost $103,540,999) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES<sup>(j)</sup>-103.76% <br>(Cost $103,540,999) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES<sup>(j)</sup>-103.76% <br>(Cost $103,540,999) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES<sup>(j)</sup>-103.76% <br>(Cost $103,540,999) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES<sup>(j)</sup>-103.76% <br>(Cost $103,540,999) | &nbsp;&nbsp; 104735463 |
| OTHER ASSETS LESS LIABILITIES-(3.76%) | OTHER ASSETS LESS LIABILITIES-(3.76%) | OTHER ASSETS LESS LIABILITIES-(3.76%) | OTHER ASSETS LESS LIABILITIES-(3.76%) | OTHER ASSETS LESS LIABILITIES-(3.76%) | &nbsp;&nbsp; (3792410)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $100943053 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Investment Abbreviations: | Investment Abbreviations: |
| AGI | -Assured Guaranty, Inc. |
| BAM | -Build America Mutual Assurance Co. |
| CEP | -Credit Enhancement Provider |
| COP | -Certificates of Participation |
| GNMA | -Government National Mortgage Association |
| GO | -General Obligation |
| INS | -Insurer |
| LOC | -Letter of Credit |
| RB | -Revenue Bonds |
| Ref. | -Refunding |
| VRD | -Variable Rate Demand |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | 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 <br> resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at <br> January 31, 2026 was $9,818,457, which represented 9.73% of the Fund's Net Assets.<br>|
| <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> | Denotes a zero coupon security issued at a substantial discount from its value at maturity. |
| <sup>(e)</sup> | Principal and/or interest payments are secured by the bond insurance company listed. |
| <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 <br> the issuer or agent based on current market conditions. Rate shown is the rate in effect on January 31, 2026.<br>|
| <sup>(g)</sup> | Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary. |
| <sup>(h)</sup> | All or a portion of the security position is when-issued or delayed delivery to be delivered and settled after period end. |
| <sup>(i)</sup> | Advance refunded; secured by an escrow fund of U.S. Government obligations or other highly rated collateral. |
| <sup>(j)</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 <br> obligations but may be called upon to satisfy the issuer's obligations. No concentration of any single entity was greater than 5% each.<br>|

---

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.

------

Schedule of Investments

**Invesco Rochester High Yield Municipal ETF (IROC)**

January 31, 2026

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Municipal Obligations-101.09%** |  |  |  |  |
| **Alabama-4.39%** |  |  |  |  |
| Black Belt Energy Gas District (Gas), Series 2025 B, RB | &nbsp;&nbsp; 5.00% | 10/01/2035 | $1000 | &nbsp;&nbsp; $1043553 |
| Black Belt Energy Gas District (Gas), Series 2025 C, RB<sup>(a)(b)</sup> | &nbsp;&nbsp; 5.50% | 08/01/2034 | 1000 | &nbsp;&nbsp; 1075132 |
| Lower Alabama Gas District (The), Series 2016 A, RB | &nbsp;&nbsp; 5.00% | 09/01/2046 | 1500 | &nbsp;&nbsp; 1585858 |
| Mobile (County of), AL Industrial Development Authority (AM/NS Calvert LLC), Series 2024, RB<sup>(c)</sup> | &nbsp;&nbsp; 5.00% | 06/01/2054 | 1000 | &nbsp;&nbsp; 963702 |
|  |  |  |  | &nbsp;&nbsp; 4668245 |
| **Arizona-4.66%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Arizona (State of) Industrial Development Authority (Academies of Math & Science), Series 2025, <br> RB<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 4.88% | 07/01/2035 | 500 | &nbsp;&nbsp; 497401 |
| &nbsp;&nbsp;&nbsp; Phoenix (City of), AZ Industrial Development Authority (Basis Schools) (The), Series 2016 A, Ref. <br> RB<sup>(a)</sup><br>| &nbsp;&nbsp; 5.00% | 07/01/2046 | 1500 | &nbsp;&nbsp; 1435128 |
| &nbsp;&nbsp;&nbsp; Phoenix (City of), AZ Industrial Development Authority (The) (Great Hearts Academies), Series 2016 <br> A, Ref. RB<br>| &nbsp;&nbsp; 5.00% | 07/01/2041 | 1000 | &nbsp;&nbsp; 1000175 |
| &nbsp;&nbsp;&nbsp; Pima (County of), AZ Industrial Development Authority (American Leadership Academy) (The), <br> Series 2022, Ref. RB<sup>(a)</sup><br>| &nbsp;&nbsp; 4.00% | 06/15/2031 | 500 | &nbsp;&nbsp; 497408 |
| &nbsp;&nbsp;&nbsp; Sierra (City of), AZ Vista Industrial Development Authority (Wake Preparatory Academy), Series 2025, <br> RB<br>| &nbsp;&nbsp; 6.25% | 06/15/2050 | 500 | &nbsp;&nbsp; 502343 |
| Tempe (City of), AZ Industrial Development Authority (Friendship Village), Series 2025, RB | &nbsp;&nbsp; 5.38% | 12/01/2046 | 1000 | &nbsp;&nbsp; 1020760 |
|  |  |  |  | &nbsp;&nbsp; 4953215 |
| **Arkansas-0.48%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Arkansas (State of) Development Finance Authority (U.S. Steel Corp.) (Green Bonds), Series 2023, <br> RB<sup>(c)</sup><br>| &nbsp;&nbsp; 5.70% | 05/01/2053 | 500 | &nbsp;&nbsp; 508415 |
| **California-7.16%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; California (State of) Infrastructure & Economic Development Bank (Brightline West Passenger Rail) <br> (Green Bonds), Series 2025 B, Ref. RB<sup>(a)(b)(c)</sup><br>| 12.00% | 11/02/2026 | 365 | &nbsp;&nbsp; 273750 |
| &nbsp;&nbsp;&nbsp; California (State of) Municipal Finance Authority (California Baptist University), Series 2025, Ref. <br> RB<sup>(a)</sup><br>| &nbsp;&nbsp; 5.63% | 11/01/2054 | 500 | &nbsp;&nbsp; 508717 |
| &nbsp;&nbsp;&nbsp; California (State of) Pollution Control Financing Authority (Poseidon Resources L.P.), Series 2023, <br> RB<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 5.00% | 07/01/2038 | 500 | &nbsp;&nbsp; 541766 |
| &nbsp;&nbsp;&nbsp; California (State of) Public Finance Authority (California University of Science and Medicine), <br> Series 2019 A, RB<sup>(a)</sup><br>| &nbsp;&nbsp; 6.25% | 07/01/2054 | 500 | &nbsp;&nbsp; 517180 |
| California (State of) School Finance Authority (Classical Academies Oceanside), Series 2020 A, RB<sup>(a)</sup> | &nbsp;&nbsp; 5.00% | 10/01/2050 | 1000 | &nbsp;&nbsp; 964725 |
| California (State of) School Finance Authority (Green Dot Public Schools), Series 2018 A, RB<sup>(a)</sup> | &nbsp;&nbsp; 5.00% | 08/01/2048 | 1500 | &nbsp;&nbsp; 1481003 |
| &nbsp;&nbsp;&nbsp; California (State of) Statewide Communities Development Authority (Adventist Health System), <br> Series 2015 A, Ref. RB<br>| &nbsp;&nbsp; 5.00% | 03/01/2045 | 580 | &nbsp;&nbsp; 580197 |
| &nbsp;&nbsp;&nbsp; California (State of) Statewide Communities Development Authority (Loma Linda University Medical <br> Center), Series 2014, RB<br>| &nbsp;&nbsp; 5.25% | 12/01/2034 | 500 | &nbsp;&nbsp; 500617 |
| Regents of the University of California Medical Center, Series 2016 L, Ref. RB | &nbsp;&nbsp; 5.00% | 05/15/2047 | 775 | &nbsp;&nbsp; 777283 |
| &nbsp;&nbsp;&nbsp; Southern California Tobacco Securitization Authority (San Diego County Asset Securitization Corp.), <br> Series 2019, Ref. RB<br>| &nbsp;&nbsp; 5.00% | 06/01/2048 | 1500 | &nbsp;&nbsp; 1469266 |
|  |  |  |  | &nbsp;&nbsp; 7614504 |
| **Colorado-1.39%** |  |  |  |  |
| Centerra Metropolitan District No. 1 (In the City of Loveland), Series 2017, RB<sup>(a)</sup> | &nbsp;&nbsp; 5.00% | 12/01/2037 | 500 | &nbsp;&nbsp; 500241 |
| Colorado State University Research Foundation, Series 2025 A, RB<sup>(a)</sup> | &nbsp;&nbsp; 5.38% | 03/01/2055 | 1000 | &nbsp;&nbsp; 982678 |
|  |  |  |  | &nbsp;&nbsp; 1482919 |
| **Delaware-0.96%** |  |  |  |  |
| Delaware State Economic Development Authority (NRG Energy), Series 2020 A, Ref. RB<sup>(b)</sup> | &nbsp;&nbsp; 4.00% | 10/01/2035 | 1000 | &nbsp;&nbsp; 1019316 |
| **District of Columbia-1.28%** |  |  |  |  |
| District of Columbia (Provident Group - Howard Properties LLC), Series 2013, RB | &nbsp;&nbsp; 5.00% | 10/01/2045 | 350 | &nbsp;&nbsp; 330876 |
| District of Columbia Tobacco Settlement Financing Corp., Series 2001, RB | &nbsp;&nbsp; 6.75% | 05/15/2040 | 1000 | &nbsp;&nbsp; 1033110 |
|  |  |  |  | &nbsp;&nbsp; 1363986 |
| **Florida-9.34%** |  |  |  |  |
| Capital Projects Finance Authority (Millenia Orlando), Series 2025 A, RB<sup>(a)</sup> | &nbsp;&nbsp; 6.75% | 01/01/2045 | 500 | &nbsp;&nbsp; 517506 |
| Capital Trust Agency, Inc. (University Bridge LLC Student Housing), Series 2018 A, RB<sup>(a)</sup> | &nbsp;&nbsp; 5.25% | 12/01/2058 | 1000 | &nbsp;&nbsp; 948452 |
| Capital Trust Authority (St.Johns Classical Academy, Inc.), Series 2025, Ref. RB<sup>(a)</sup> | &nbsp;&nbsp; 5.13% | 06/15/2050 | 250 | &nbsp;&nbsp; 229380 |
| &nbsp;&nbsp;&nbsp; Charlotte (County of), FL Industrial Development Authority (Town & Country Utilities), Series 2025, <br> RB<sup>(c)</sup><br>| &nbsp;&nbsp; 6.13% | 10/01/2055 | 500 | &nbsp;&nbsp; 517682 |

---

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

------

**Invesco Rochester High Yield Municipal ETF (IROC)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Florida-(continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Florida Development Finance Corp. (Brightline Florida Passenger Rail Expansion), Series 2024, Ref. <br> RB<sup>(a)(b)(c)</sup><br>| 12.00% | 07/15/2028 | $250 | &nbsp;&nbsp; $90000 |
| &nbsp;&nbsp;&nbsp; Florida Development Finance Corp. (Brightline Florida Passenger Rail Expansion), Series 2024, Ref. <br> RB<sup>(c)</sup><br>| &nbsp;&nbsp; 5.50% | 07/01/2053 | 500 | &nbsp;&nbsp; 375000 |
| Florida Development Finance Corp. (Mater Academy), Series 2022 A, RB | &nbsp;&nbsp; 5.00% | 06/15/2056 | 1050 | &nbsp;&nbsp; 981032 |
| Greater Orlando Aviation Authority, Series 2025, RB<sup>(c)</sup> | &nbsp;&nbsp; 5.25% | 11/01/2035 | 1000 | &nbsp;&nbsp; 1074919 |
| Lake (County of), FL (Lakeside at Waterman Village), Series 2020 A, Ref. RB | &nbsp;&nbsp; 5.75% | 08/15/2055 | 1500 | &nbsp;&nbsp; 1460616 |
| &nbsp;&nbsp;&nbsp; Lee (County of), FL Industrial Development Authority (Shell Point Obligated Group), Series 2024 B-3, <br> RB<br>| &nbsp;&nbsp; 4.13% | 11/15/2029 | 200 | &nbsp;&nbsp; 201362 |
| Miami Beach (City of), FL, Series 2017, Ref. RB | &nbsp;&nbsp; 5.00% | 09/01/2047 | 500 | &nbsp;&nbsp; 504228 |
| Okaloosa (County of), FL (Air Force Enlisted Village), Series 2025, RB<sup>(a)</sup> | &nbsp;&nbsp; 5.50% | 05/15/2045 | 1000 | &nbsp;&nbsp; 1023397 |
| Wildwood (City of), FL Village Community Development Disctrict No. 15, Series 2023, RB<sup>(a)</sup> | &nbsp;&nbsp; 5.25% | 05/01/2054 | 1000 | &nbsp;&nbsp; 1003726 |
| Wildwood (City of), FL Village Community Development Disctrict No. 16, Series 2025, RB | &nbsp;&nbsp; 4.88% | 05/01/2045 | 1000 | &nbsp;&nbsp; 1003673 |
|  |  |  |  | &nbsp;&nbsp; 9930973 |
| **Georgia-1.89%** |  |  |  |  |
| Columbus Medical Center Hospital Authority, Series 2019, RB<sup>(b)</sup> | &nbsp;&nbsp; 5.00% | 07/01/2026 | 2000 | &nbsp;&nbsp; 2004128 |
| **Illinois-4.61%** |  |  |  |  |
| Chicago (City of), IL Board of Education, Series 2012 B, Ref. GO Bonds | &nbsp;&nbsp; 5.00% | 12/01/2033 | 500 | &nbsp;&nbsp; 500005 |
| Chicago (City of), IL Board of Education, Series 2015 C, GO Bonds | &nbsp;&nbsp; 5.25% | 12/01/2035 | 340 | &nbsp;&nbsp; 340008 |
| Illinois (State of), Series 2025 E, GO Bonds, (INS - BAM)<sup>(d)</sup> | &nbsp;&nbsp; 5.00% | 09/01/2045 | 1000 | &nbsp;&nbsp; 1042989 |
| Illinois (State of) Finance Authority (Rosalind Franklin University), Series 2017, Ref. RB | &nbsp;&nbsp; 5.00% | 08/01/2047 | 1350 | &nbsp;&nbsp; 1304184 |
| Indiana (State of) Finance Authority (Institute of Technology), Series 2019, Ref. RB | &nbsp;&nbsp; 5.00% | 09/01/2040 | 1500 | &nbsp;&nbsp; 1462647 |
| Marion (City of), IL (Star Bond District Project Area No. 1), Series 2025, RB | &nbsp;&nbsp; 6.38% | 06/01/2045 | 250 | &nbsp;&nbsp; 250342 |
|  |  |  |  | &nbsp;&nbsp; 4900175 |
| **Indiana-0.72%** |  |  |  |  |
| Indiana (State of) Finance Authority (U.S. Steel Corp.), Series 2021 A, Ref. RB | &nbsp;&nbsp; 4.13% | 12/01/2026 | 500 | &nbsp;&nbsp; 501648 |
| Whiting (City of), IN (BP Products North America, Inc.), Series 2015, RB<sup>(b)(c)</sup> | &nbsp;&nbsp; 4.40% | 06/10/2031 | 250 | &nbsp;&nbsp; 263183 |
|  |  |  |  | &nbsp;&nbsp; 764831 |
| **Iowa-1.46%** |  |  |  |  |
| Iowa (State of) Finance Authority (Alcoa, Inc.), Series 2012, RB | &nbsp;&nbsp; 4.75% | 08/01/2042 | 1000 | &nbsp;&nbsp; 1000166 |
| Iowa (State of) Finance Authority (Iowa Fertilizer Co.), Series 2022, Ref. RB<sup>(b)(e)</sup> | &nbsp;&nbsp; 4.00% | 12/01/2032 | 500 | &nbsp;&nbsp; 550012 |
|  |  |  |  | &nbsp;&nbsp; 1550178 |
| **Kansas-0.48%** |  |  |  |  |
| Garden (City of), KS, Series 2025, RB<sup>(a)</sup> | &nbsp;&nbsp; 5.38% | 06/01/2039 | 500 | &nbsp;&nbsp; 508445 |
| **Kentucky-3.93%** |  |  |  |  |
| Henderson (City of), KY, Series 2022, RB<sup>(a)(c)</sup> | &nbsp;&nbsp; 4.45% | 01/01/2042 | 1220 | &nbsp;&nbsp; 1224703 |
| &nbsp;&nbsp;&nbsp; Kentucky (Commonwealth of) Economic Development Finance Authority (Christian Care Communities, <br> Inc.), Series 2021, Ref. RB<br>| &nbsp;&nbsp; 4.75% | 07/01/2040 | 1500 | &nbsp;&nbsp; 1398323 |
| &nbsp;&nbsp;&nbsp; Kentucky (Commonwealth of) Economic Development Finance Authority (Next Generation Kentucky <br> Information Highway), Series 2015 A, RB<br>| &nbsp;&nbsp; 4.25% | 07/01/2035 | 500 | &nbsp;&nbsp; 500310 |
| Kentucky (Commonwealth of) Public Energy Authority, Series 2025 B, RB | &nbsp;&nbsp; 5.00% | 12/01/2033 | 1000 | &nbsp;&nbsp; 1048806 |
|  |  |  |  | &nbsp;&nbsp; 4172142 |
| **Maryland-1.66%** |  |  |  |  |
| Maryland Economic Development Corp. (Purple Line) (Green Bonds), Series 2022 A, RB<sup>(c)</sup> | &nbsp;&nbsp; 5.00% | 11/12/2028 | 500 | &nbsp;&nbsp; 503229 |
| Maryland Economic Development Corp. (Purple Line) (Green Bonds), Series 2022 B, RB<sup>(c)</sup> | &nbsp;&nbsp; 5.25% | 06/30/2047 | 750 | &nbsp;&nbsp; 753382 |
| Rockville (City of), MD (Ingleside at King Farm), Series 2017 A-1, Ref. RB | &nbsp;&nbsp; 5.00% | 11/01/2037 | 500 | &nbsp;&nbsp; 505128 |
|  |  |  |  | &nbsp;&nbsp; 1761739 |
| **Massachusetts-2.76%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Massachusetts (Commonwealth of) Development Finance Agency (Emerson College), Series 2016 A, <br> RB<br>| &nbsp;&nbsp; 5.00% | 01/01/2047 | 1500 | &nbsp;&nbsp; 1449788 |
| &nbsp;&nbsp;&nbsp; Massachusetts (Commonwealth of) Development Finance Agency (Lasell Village, Inc.), Series 2025, <br> RB<br>| &nbsp;&nbsp; 5.25% | 07/01/2055 | 500 | &nbsp;&nbsp; 504111 |
| &nbsp;&nbsp;&nbsp; Massachusetts (Commonwealth of) Development Finance Agency (Western New England University), <br> Series 2018, Ref. RB<br>| &nbsp;&nbsp; 5.00% | 09/01/2043 | 1000 | &nbsp;&nbsp; 981333 |
|  |  |  |  | &nbsp;&nbsp; 2935232 |

---

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

------

**Invesco Rochester High Yield Municipal ETF (IROC)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Michigan-2.67%** |  |  |  |  |
| Kalamazoo Economic Development Corp., Series 2026, RB<sup>(a)</sup> | 6.00% | 08/15/2046 | $1315 | &nbsp;&nbsp; $1336760 |
| Michigan (State of) Strategic Fund (Green Bonds), Series 2021, RB<sup>(b)(c)</sup> | 4.00% | 10/01/2026 | 500 | &nbsp;&nbsp; 499705 |
| Michigan (State of) Strategic Fund (Improvement), Series 2018, RB<sup>(c)</sup> | 5.00% | 12/31/2043 | 1000 | &nbsp;&nbsp; 1004725 |
|  |  |  |  | &nbsp;&nbsp; 2841190 |
| **Missouri-0.21%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Missouri (State of) Health & Educational Facilities Authority (Missouri Baptist University), Series 2025, <br> Ref. RB<sup>(a)</sup><br>| 5.00% | 10/01/2035 | 215 | &nbsp;&nbsp; 219199 |
| **New Jersey-1.36%** |  |  |  |  |
| New Jersey Economic Development Authority, Series 2025, RB | 5.13% | 11/01/2055 | 1000 | &nbsp;&nbsp; 989562 |
| Tobacco Settlement Financing Corp., Series 2018 B, Ref. RB | 5.00% | 06/01/2046 | 470 | &nbsp;&nbsp; 456930 |
|  |  |  |  | &nbsp;&nbsp; 1446492 |
| **New Mexico-4.70%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; New Mexico (State of) Hospital Equipment Loan Council (Presbyterian Healthcare), Series 2008, VRD <br> Ref. RB<sup>(f)</sup><br>| 2.05% | 08/01/2034 | 5000 | &nbsp;&nbsp; 5000000 |
| **New York-9.26%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Build NYC Resource Corp. (Brooklyn Navy Yard), Series 2019, Ref. RB, <br> (LOC - Santander Bank N.A.)<sup>(a)(c)(g)</sup><br>| 5.25% | 12/31/2033 | 250 | &nbsp;&nbsp; 254555 |
| &nbsp;&nbsp;&nbsp; Build NYC Resource Corp. (East Harlem Scholars Academy Charter School) (Social Bonds), <br> Series 2025, RB<sup>(a)</sup><br>| 5.13% | 10/15/2045 | 1000 | &nbsp;&nbsp; 986982 |
| New York (City of), NY Transitional Finance Authority, Series 2018 A-4, VRD RB<sup>(f)</sup> | 2.05% | 08/01/2045 | 3000 | &nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp; New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International <br> Airport), Series 2021, Ref. RB<sup>(c)</sup><br>| 3.00% | 08/01/2031 | 500 | &nbsp;&nbsp; 477825 |
| &nbsp;&nbsp;&nbsp; New York Transportation Development Corp. (Delta Air Lines, Inc. LaGuardia Airport Terminals C&D <br> Redevelopment), Series 2020, RB<sup>(c)</sup><br>| 4.38% | 10/01/2045 | 1000 | &nbsp;&nbsp; 947041 |
| &nbsp;&nbsp;&nbsp; New York Transportation Development Corp. (John F. Kennedy International Airport) (Green Bonds), <br> Series 2025, RB<sup>(c)</sup><br>| 6.00% | 06/30/2055 | 1000 | &nbsp;&nbsp; 1060619 |
| &nbsp;&nbsp;&nbsp; New York Transportation Development Corp. (LaGuardia Airport Terminal B Redevelopment), <br> Series 2023, RB<sup>(c)</sup><br>| 6.00% | 04/01/2035 | 1000 | &nbsp;&nbsp; 1107028 |
| &nbsp;&nbsp;&nbsp; New York Transportation Development Corp. (Terminal 4 JFK International Airport) (Green Bonds), <br> Series 2024, Ref. RB<sup>(c)</sup><br>| 5.50% | 12/31/2060 | 1000 | &nbsp;&nbsp; 1010882 |
| Ulster County Capital Resource Corp., Series 2025, RB<sup>(a)</sup> | 5.88% | 09/15/2059 | 1000 | &nbsp;&nbsp; 1002898 |
|  |  |  |  | &nbsp;&nbsp; 9847830 |
| **North Dakota-0.39%** |  |  |  |  |
| Ward (County of), ND (Trinity Obligated Group), Series 2017 C, RB | 5.00% | 06/01/2034 | 410 | &nbsp;&nbsp; 410155 |
| **Ohio-9.73%** |  |  |  |  |
| Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Ref. RB | 5.00% | 06/01/2055 | 1000 | &nbsp;&nbsp; 823837 |
| &nbsp;&nbsp;&nbsp; Cleveland (City of) & Cuyahoga (County of), OH Port Authority (Pinecrest Public Improvement), <br> Series 2017, RB<sup>(a)</sup><br>| 7.00% | 11/15/2048 | 1000 | &nbsp;&nbsp; 1033129 |
| &nbsp;&nbsp;&nbsp; Columbus (City of) & Franklin (County of), OH Finance Authority (Silver Birch of Columbus), <br> Series 2025, RB<sup>(a)</sup><br>| 6.05% | 01/01/2046 | 1000 | &nbsp;&nbsp; 1007529 |
| &nbsp;&nbsp;&nbsp; Dayton-Montgomery County Port Authority (Liberty Assisted Living - Springfield), Series 2025 A, <br> RB<sup>(a)</sup><br>| 6.63% | 01/01/2045 | 500 | &nbsp;&nbsp; 525042 |
| Muskingum (County of), OH (Genesis Healthcare System), Series 2013, RB | 5.00% | 02/15/2048 | 1500 | &nbsp;&nbsp; 1429654 |
| Ohio (State of), Series 2025, Ref. VRD RB, (LOC – JPMorgan Chase Bank N.A.)<sup>(f)(g)</sup> | 2.05% | 01/15/2050 | 5000 | &nbsp;&nbsp; 5000000 |
| Ohio (State of) Housing Finance Agency (Haven's Edge Apartments), Series 2025, RB<sup>(a)</sup> | 5.70% | 08/01/2043 | 500 | &nbsp;&nbsp; 522487 |
|  |  |  |  | &nbsp;&nbsp; 10341678 |
| **Oregon-0.73%** |  |  |  |  |
| Portland (Port of), OR (Green Bonds), Twenty Ninth Series 2023, RB<sup>(c)</sup> | 5.25% | 07/01/2039 | 700 | &nbsp;&nbsp; 776466 |
| **Pennsylvania-4.10%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Allentown (City of), PA Neighborhood Improvement Zone Development Authority, Series 2022, Ref. <br> RB<br>| 5.00% | 05/01/2033 | 525 | &nbsp;&nbsp; 573170 |
| Bucks (County of), PA Industrial Development Authority (Grand View Hospital), Series 2021, RB | 5.00% | 07/01/2054 | 1500 | &nbsp;&nbsp; 1476750 |
| Cumberland County Municipal Authority, Series 2026, Ref. RB | 5.50% | 06/01/2051 | 1000 | &nbsp;&nbsp; 1011975 |
| &nbsp;&nbsp;&nbsp; Montgomery (County of), PA Industrial Development Authority (Constellation Energy Generation, <br> LLC), Series 2023 B, Ref. RB<br>| 4.10% | 06/01/2029 | 400 | &nbsp;&nbsp; 418433 |

---

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

------

**Invesco Rochester High Yield Municipal ETF (IROC)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Pennsylvania-(continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Pennsylvania (Commonwealth of) Economic Development Financing Authority (Penndot Major Bridges <br> (The)), Series 2022, RB<sup>(c)</sup><br>| 5.50% | 06/30/2038 | $500 | &nbsp;&nbsp; $551008 |
| Pottsville Hospital Authority, Series 2016, Ref. RB | 5.00% | 07/01/2045 | 325 | &nbsp;&nbsp; 326212 |
|  |  |  |  | &nbsp;&nbsp; 4357548 |
| **Puerto Rico-0.96%** |  |  |  |  |
| Puerto Rico (Commonwealth of), Series 2021 A-1, GO Bonds | 4.00% | 07/01/2033 | 500 | &nbsp;&nbsp; 505679 |
| Puerto Rico (Commonwealth of) Aqueduct & Sewer Authority, Series 2022 A, Ref. RB<sup>(a)</sup> | 5.00% | 07/01/2028 | 500 | &nbsp;&nbsp; 517321 |
|  |  |  |  | &nbsp;&nbsp; 1023000 |
| **Rhode Island-0.93%** |  |  |  |  |
| Tobacco Settlement Financing Corp., Series 2015 B, Ref. RB | 5.00% | 06/01/2050 | 1000 | &nbsp;&nbsp; 988829 |
| **South Carolina-3.36%** |  |  |  |  |
| Patriots Energy Group Financing Agency, Series 2023 A-1, RB<sup>(b)</sup> | 5.25% | 08/01/2031 | 500 | &nbsp;&nbsp; 538048 |
| &nbsp;&nbsp;&nbsp; South Carolina (State of) Jobs-Economic Development Authority (Beaufort Memorial Hospital & South <br> of Broad Healthcare), Series 2024, RB<br>| 5.75% | 11/15/2054 | 1500 | &nbsp;&nbsp; 1526376 |
| South Carolina Jobs-Economic Development Authority, Series 2025, RB | 5.25% | 04/01/2051 | 1000 | &nbsp;&nbsp; 1002865 |
| South Carolina Jobs-Economic Development Authority (Rolling Green Village), Series 2025, RB | 5.80% | 12/01/2050 | 500 | &nbsp;&nbsp; 506747 |
|  |  |  |  | &nbsp;&nbsp; 3574036 |
| **Texas-2.00%** |  |  |  |  |
| Arlington Higher Education Finance Corp. (Newman International Academy), Series 2021, RB | 5.00% | 08/15/2051 | 150 | &nbsp;&nbsp; 106554 |
| Houston (City of), TX (United Airlines, Inc.), Series 2021 B-1, RB<sup>(c)</sup> | 4.00% | 07/15/2041 | 500 | &nbsp;&nbsp; 461137 |
| Houston (City of), TX (United Airlines, Inc.), Series 2024 B, RB<sup>(c)</sup> | 5.50% | 07/15/2038 | 500 | &nbsp;&nbsp; 542131 |
| Mission Economic Development Corp. (Green Bonds), Series 2025, RB<sup>(b)(c)</sup> | 5.00% | 06/01/2030 | 250 | &nbsp;&nbsp; 259493 |
| Mission Economic Development Corp. (Natgasoline), Series 2018, Ref. RB<sup>(a)(c)</sup> | 4.63% | 10/01/2031 | 500 | &nbsp;&nbsp; 501879 |
| New Hope Cultural Education Facilities Finance Corp., Series 2025 A, RB | 6.50% | 10/01/2060 | 250 | &nbsp;&nbsp; 258038 |
|  |  |  |  | &nbsp;&nbsp; 2129232 |
| **Utah-0.70%** |  |  |  |  |
| Black Desert Public Infrastructure District, Series 2021 A, GO Bonds<sup>(a)</sup> | 3.25% | 03/01/2031 | 500 | &nbsp;&nbsp; 480714 |
| Mida Cormont Public Infrastructure District, Series 2025 A-1, GO Bonds<sup>(a)</sup> | 6.25% | 06/01/2055 | 250 | &nbsp;&nbsp; 261776 |
|  |  |  |  | &nbsp;&nbsp; 742490 |
| **Virgin Islands-0.24%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Virgin Islands (Government of) Public Finance Authority (Frenchman's Reef Hotel Development), <br> Series 2024 A, RB<sup>(a)</sup><br>| 6.00% | 04/01/2053 | 250 | &nbsp;&nbsp; 250212 |
| **Virginia-3.49%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Norfolk (City of), VA Redevelopment & Housing Authority (Fort Norfolk Retirement Community, Inc. - <br> Harbor's Edge), Series 2019 A, RB<br>| 5.00% | 01/01/2034 | 500 | &nbsp;&nbsp; 507790 |
| &nbsp;&nbsp;&nbsp; Virginia Beach Development Authority (Westminster-Canterbury on Chesapeake Bay), Series 2023 <br> B-3, RB<br>| 5.38% | 09/01/2029 | 1000 | &nbsp;&nbsp; 1011625 |
| &nbsp;&nbsp;&nbsp; Virginia Beach Development Authority (Westminster-Canterbury on Chesapeake Bay), Series 2023, <br> RB<br>| 7.00% | 09/01/2059 | 1000 | &nbsp;&nbsp; 1093856 |
| Virginia Small Business Financing Authority (Transform 66 P3 Project), Series 2017, RB<sup>(c)</sup> | 5.00% | 12/31/2047 | 1130 | &nbsp;&nbsp; 1092628 |
|  |  |  |  | &nbsp;&nbsp; 3705899 |
| **Washington-2.58%** |  |  |  |  |
| Washington (State of) Convention Center Public Facilities District, Series 2018, RB | 5.00% | 07/01/2043 | 500 | &nbsp;&nbsp; 506230 |
| &nbsp;&nbsp;&nbsp; Washington (State of) Health Care Facilities Authority (Providence Health & Services), Series 2012 A, <br> RB<br>| 5.00% | 10/01/2042 | 500 | &nbsp;&nbsp; 500347 |
| Washington (State of) Housing Finance Commission (Horizon House), Series 2025 A, Ref. RB | 6.00% | 01/01/2046 | 1000 | &nbsp;&nbsp; 1005312 |
| &nbsp;&nbsp;&nbsp; Washington (State of) Housing Finance Commission (Presbyterian Retirement Co.), Series 2016 A, <br> Ref. RB<sup>(a)</sup><br>| 5.00% | 01/01/2046 | 770 | &nbsp;&nbsp; 728396 |
|  |  |  |  | &nbsp;&nbsp; 2740285 |
| **West Virginia-0.26%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; West Virginia (State of) Economic Development Authority (Core Natural Resources, Inc.), Series 2025, <br> Ref. RB<sup>(a)(b)(c)</sup><br>| 5.45% | 03/27/2035 | 250 | &nbsp;&nbsp; 272979 |
| **Wisconsin-6.25%** |  |  |  |  |
| Public Finance Authority, Series 2026, RB<sup>(a)(b)(c)(h)</sup> | 6.00% | 01/01/2031 | 1000 | &nbsp;&nbsp; 1000546 |

---

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

------

**Invesco Rochester High Yield Municipal ETF (IROC)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| **Principal**<br> **Amount**<br> **(000)** | **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Wisconsin-(continued)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Wisconsin (State of) Health & Educational Facilities Authority (Camillus Health System), Series 2019, <br> Ref. RB<br>| 5.00% | 11/01/2046 | $| 500 | &nbsp;&nbsp; $468877 |
| &nbsp;&nbsp;&nbsp; Wisconsin (State of) Health & Educational Facilities Authority (Capitol Lakes, Inc.), Series 2025 A, Ref. <br> RB<br>| 6.00% | 11/15/2045 |  | 1000 | &nbsp;&nbsp; 993972 |
| Wisconsin (State of) Public Finance Authority, Series 2025, RB<sup>(c)</sup> | 5.75% | 06/30/2060 |  | 1000 | &nbsp;&nbsp; 1036392 |
| Wisconsin (State of) Public Finance Authority, Series 2025, RB<sup>(c)</sup> | 5.75% | 12/31/2065 |  | 500 | &nbsp;&nbsp; 517445 |
| Wisconsin (State of) Public Finance Authority (Explore Academy Rio Rancho), Series 2025 A, RB<sup>(a)</sup> | 6.75% | 07/01/2045 |  | 1000 | &nbsp;&nbsp; 1010500 |
| &nbsp;&nbsp;&nbsp; Wisconsin (State of) Public Finance Authority (KSU Bixby Real Estate Foundation LLC), Series 2025, <br> RB<br>| 5.25% | 06/15/2055 |  | 500 | &nbsp;&nbsp; 501666 |
| &nbsp;&nbsp;&nbsp; Wisconsin (State of) Public Finance Authority (KU Campus Development Corp. - Central District <br> Development), Series 2016, RB<br>| 5.00% | 03/01/2041 |  | 725 | &nbsp;&nbsp; 725386 |
| Wisconsin (State of) Public Finance Authority (Milo Farms Project), Series 2025, RB<sup>(a)(i)</sup> | 0.00% | 12/15/2039 |  | 750 | &nbsp;&nbsp; 268340 |
| Wisconsin (State of) Public Finance Authority (Prime Healthcare Foundation, Inc.), Series 2018 A, RB | 5.00% | 12/01/2027 |  | 120 | &nbsp;&nbsp; 122299 |
|  |  |  |  |  | &nbsp;&nbsp; 6645423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Municipal Obligations <br>(Cost $106,650,184) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Municipal Obligations <br>(Cost $106,650,184) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Municipal Obligations <br>(Cost $106,650,184) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Municipal Obligations <br>(Cost $106,650,184) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Municipal Obligations <br>(Cost $106,650,184) | &nbsp;&nbsp; 107451386 |
|  |  |  | **Shares** | **Shares** |  |
| **Common Stocks & Other Equity Interests-0.01%** |  |  |  |  |  |
| **United States-0.01%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; BL Train Holdings West LLC, Wts. expiring 11/26/2035(j)(k) <br>(Cost $0) | &nbsp;&nbsp;&nbsp; BL Train Holdings West LLC, Wts. expiring 11/26/2035(j)(k) <br>(Cost $0) | &nbsp;&nbsp;&nbsp; BL Train Holdings West LLC, Wts. expiring 11/26/2035(j)(k) <br>(Cost $0) |  | 3000 | &nbsp;&nbsp; 7500 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES<sup>(l)</sup>-101.10% <br>(Cost $106,650,184) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES<sup>(l)</sup>-101.10% <br>(Cost $106,650,184) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES<sup>(l)</sup>-101.10% <br>(Cost $106,650,184) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES<sup>(l)</sup>-101.10% <br>(Cost $106,650,184) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES<sup>(l)</sup>-101.10% <br>(Cost $106,650,184) | &nbsp;&nbsp; 107458886 |
| OTHER ASSETS LESS LIABILITIES-(1.10%) | OTHER ASSETS LESS LIABILITIES-(1.10%) | OTHER ASSETS LESS LIABILITIES-(1.10%) | OTHER ASSETS LESS LIABILITIES-(1.10%) | OTHER ASSETS LESS LIABILITIES-(1.10%) | &nbsp;&nbsp; (1170052)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $106288834 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Investment Abbreviations: | Investment Abbreviations: |
| BAM | -Build America Mutual Assurance Co. |
| GO | -General Obligation |
| INS | -Insurer |
| LOC | -Letter of Credit |
| RB | -Revenue Bonds |
| Ref. | -Refunding |
| VRD | -Variable Rate Demand |
| Wts. | -Warrants |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | 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 <br> resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at <br> January 31, 2026 was $27,001,982, which represented 25.40% of the Fund's Net Assets.<br>|
| <sup>(b)</sup> | Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put. |
| <sup>(c)</sup> | Security subject to the alternative minimum tax. |
| <sup>(d)</sup> | Principal and/or interest payments are secured by the bond insurance company listed. |
| <sup>(e)</sup> | Advance refunded; secured by an escrow fund of U.S. Government obligations or other highly rated collateral. |
| <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 <br> the issuer or agent based on current market conditions. Rate shown is the rate in effect on January 31, 2026.<br>|
| <sup>(g)</sup> | Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary. |
| <sup>(h)</sup> | All or a portion of the security position is when-issued or delayed delivery to be delivered and settled after period end. |
| <sup>(i)</sup> | Denotes a zero coupon security issued at a substantial discount from its value at maturity. |
| <sup>(j)</sup> | Non-income producing security. |
| <sup>(k)</sup> | Security valued using significant unobservable inputs (Level 3). See Note 1. |
| <sup>(l)</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 <br> obligations but may be called upon to satisfy issuer's obligations. No concentration of any single entity was greater than 5% each.<br>|

---

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.

------

**Notes to Quarterly Schedules of Portfolio Holdings**

January 31, 2026

*(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 Capital Management LLC'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 January 31, 2026, for Invesco Rochester<sup>®</sup> High Yield Municipal ETF. As of January 31, 2026, all of the securities in Invesco Intermediate Municipal ETF were valued based on Level 2 inputs (see the Schedules of Investments for security categories). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp; Invesco Rochester<sup>®</sup> High Yield Municipal ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Municipal Obligations | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $107451386 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $107451386 |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 7500 | &nbsp;&nbsp;&nbsp; 7500 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $107451386 | &nbsp;&nbsp;&nbsp; $7500 | &nbsp;&nbsp;&nbsp; $107458886 |

---

------

## 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 Actively Managed Exchange-Traded Fund Trust

- **b. Investment Company Act file number:** 811-22148

- **c. CIK number of Registrant:** 0001418144

- **d. LEI of Registrant:** 549300S7YWBLZ3UGI217

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

  - **Street Address 1:** 3500 Lacey Road

  - **City:** Downers Grove

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60515

  - **Telephone number:** 800-983-0903

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

- **a. Name of Series:** Invesco Rochester High Yield Municipal ETF

- **b. EDGAR series identifier (if any):** S000078943

- **c. LEI of Series:** 5493006RURMGCZH0OI34

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

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-01-31

**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:** $108782342.27

**Total Liabilities:** $2493508.33

**Net Assets:** $106288833.94

**Cash Not Reported:** $219199.50

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -174.42289030 | **1-Year:** -1468.81976527 | **5-Year:** -5857.24387875 | **10-Year:** -14337.54340955 | **30-Year:** -6366.48892912

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

- **3-Month:** -163.97390332 | **1-Year:** -2139.76365977 | **5-Year:** -7847.52014771 | **10-Year:** -15770.96503959 | **30-Year:** -5717.71273458

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000239745 | 0.45%                | 0.10%                | 0.63%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $7830.89                 | $63275.73                                  |
| Month 2  | $292.69                  | $-263017.93                                |
| Month 3  | $-13846.56               | $302495.30                                 |

**Designated Index Information**

- **Index Name:** Securities Portfolio

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Phoenix (City of), AZ Industrial Development Authority (Basis Schools) (The)                                           | Phoenix (City of), AZ Industrial Development Authority (Basis Schools) (The), Series 2016 A, Ref. RB                                    | CUSIP: 71885FEB9<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1435127.85   | 1.35%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority (KU Campus Development Corp. -Central District Development)              | Wisconsin (State of) Public Finance Authority (KU Campus Development Corp. -Central District Development), Series 2016, RB              | CUSIP: 74444YAV6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    725000 | PA      | $725386.28    | 0.68%             | 2041-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lower Alabama Gas District (The)                                                                                       | Lower Alabama Gas District (The), Series 2016 A, RB                                                                                     | CUSIP: 547804AE4<br>LEI: 549300YTI1NTDG2OVU42 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1585858.20   | 1.49%             | 2046-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington (State of) Housing Finance Commission (Presbyterian Retirement Co.)                                         | Washington (State of) Housing Finance Commission (Presbyterian Retirement Co.), Series 2016 A, Ref. RB                                  | CUSIP: 939783TJ5<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    770000 | PA      | $728396.05    | 0.69%             | 2046-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Regents of the University of California Medical Center                                                                 | Regents of the University of California Medical Center, Series 2016 L, Ref. RB                                                          | CUSIP: 913366HL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $777282.45    | 0.73%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts (Commonwealth of) Development Finance Agency (Emerson College)                                           | Massachusetts (Commonwealth of) Development Finance Agency (Emerson College), Series 2016 A, RB                                         | CUSIP: 57584XD57<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1449788.40   | 1.36%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Centerra Metropolitan District No. 1 (In the City of Loveland)                                                         | Centerra Metropolitan District No. 1 (In the City of Loveland), Series 2017, RB                                                         | CUSIP: 15200XAF0<br>LEI: 549300SHE5ZPSMGZH793 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500240.85    | 0.47%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois (State of) Finance Authority (Rosalind Franklin University)                                                   | Illinois (State of) Finance Authority (Rosalind Franklin University), Series 2017, Ref. RB                                              | CUSIP: 45204EVF2<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1304183.70   | 1.23%             | 2047-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rockville (City of), MD (Ingleside at King Farm)                                                                       | Rockville (City of), MD (Ingleside at King Farm), Series 2017 A-1, Ref. RB                                                              | CUSIP: 774223BB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505128.50    | 0.48%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Miami Beach (City of), FL                                                                                              | Miami Beach (City of), FL, Series 2017, Ref. RB                                                                                         | CUSIP: 59324PEC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $504227.95    | 0.47%             | 2047-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Public Finance Authority (Prime Healthcare Foundation, Inc.)                                      | Wisconsin (State of) Public Finance Authority (Prime Healthcare Foundation, Inc.), Series 2018 A, RB                                    | CUSIP: 74442PFS9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    120000 | PA      | $122299.36    | 0.12%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ward (County of), ND (Trinity Obligated Group)                                                                         | Ward (County of), ND (Trinity Obligated Group), Series 2017 C, RB                                                                       | CUSIP: 934023ES7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $410154.53    | 0.39%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp.                                                                                     | Tobacco Settlement Financing Corp., Series 2018 B, Ref. RB                                                                              | CUSIP: 888808HT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    470000 | PA      | $456929.68    | 0.43%             | 2046-06-01      | Fixed         | 5.00%                 | 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: 93976ABF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $506230.00    | 0.48%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California (State of) School Finance Authority (Green Dot Public Schools)                                              | California (State of) School Finance Authority (Green Dot Public Schools), Series 2018 A, RB                                            | CUSIP: 13059TFH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1481003.10   | 1.39%             | 2048-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority (Transform 66 P3 Project)                                                  | Virginia Small Business Financing Authority (Transform 66 P3 Project), Series 2017, RB                                                  | CUSIP: 928097AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1092627.40   | 1.03%             | 2047-12-31      | Fixed         | 5.00%                 | 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        |    500000 | PA      | $501879.25    | 0.47%             | 2031-10-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| District of Columbia Tobacco Settlement Financing Corp.                                                                | District of Columbia Tobacco Settlement Financing Corp., Series 2001, RB                                                                | CUSIP: 254842AK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1033109.70   | 0.97%             | 2040-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Norfolk (City of), VA Redevelopment & Housing Authority (Fort Norfolk Retirement Community, Inc. - Harbor's Edge)      | Norfolk (City of), VA Redevelopment & Housing Authority (Fort Norfolk Retirement Community, Inc. - Harbor's Edge), Series 2019 A, RB    | CUSIP: 655909CK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $507790.25    | 0.48%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency, Inc. (University Bridge LLC Student Housing)                                                     | Capital Trust Agency, Inc. (University Bridge LLC Student Housing), Series 2018 A, RB                                                   | CUSIP: 140536AD5<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $948452.50    | 0.89%             | 2058-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Kentucky (Commonwealth of) Economic Development Finance Authority (Next Generation Kentucky Information Highway)       | Kentucky (Commonwealth of) Economic Development Finance Authority (Next Generation Kentucky Information Highway), Series 2015 A, RB     | CUSIP: 49126PEN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500309.75    | 0.47%             | 2035-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                                                                                | Michigan Strategic Fund, Series 2018, RB                                                                                                | CUSIP: 594698QT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004725.50   | 0.95%             | 2043-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp. (Brooklyn Navy Yard)                                                                          | Build NYC Resource Corp. (Brooklyn Navy Yard), Series 2019, Ref. RB                                                                     | CUSIP: 12008EPN0<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    250000 | PA      | $254554.95    | 0.24%             | 2033-12-31      | Fixed         | 5.25%                 | 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: 888804CT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1469265.60   | 1.38%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Columbus Medical Center Hospital Authority                                                                             | Columbus Medical Center Hospital Authority, Series 2019, RB                                                                             | CUSIP: 199124BQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2004128.40   | 1.89%             | 2026-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin (State of) Health & Educational Facilities Authority (Camillus Health System)                                | Wisconsin (State of) Health & Educational Facilities Authority (Camillus Health System), Series 2019, Ref. RB                           | CUSIP: 97712D4C7<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    500000 | PA      | $468877.35    | 0.44%             | 2046-11-01      | Fixed         | 5.00%                 | 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        |   1000000 | PA      | $823836.80    | 0.78%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Phoenix (City of), AZ Industrial Development Authority (The) (Great Hearts Academies)                                  | Phoenix (City of), AZ Industrial Development Authority (The) (Great Hearts Academies), Series 2016 A, Ref. RB                           | CUSIP: 71885FEK9<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000175.20   | 0.94%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp. (Delta Air Lines, Inc. LaGuardia Airport Terminals C&D Redevelopment)        | New York Transportation Development Corp. (Delta Air Lines, Inc. LaGuardia Airport Terminals C&D Redevelopment), Series 2020, RB        | CUSIP: 650116DA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $947040.60    | 0.89%             | 2045-10-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| California (State of) School Finance Authority (Classical Academies Oceanside)                                         | California (State of) School Finance Authority (Classical Academies Oceanside), Series 2020 A, RB                                       | CUSIP: 13058TKA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $964724.60    | 0.91%             | 2050-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lake (County of), FL (Lakeside at Waterman Village)                                                                    | Lake (County of), FL (Lakeside at Waterman Village), Series 2020 A, Ref. RB                                                             | CUSIP: 50826FAD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1460615.55   | 1.37%             | 2055-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| California (State of) Public Finance Authority (California University of Science and Medicine)                         | California (State of) Public Finance Authority (California University of Science and Medicine), Series 2019 A, RB                       | CUSIP: 13057EDH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $517180.15    | 0.49%             | 2054-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| New York (City of), NY Transitional Finance Authority                                                                  | New York (City of), NY Transitional Finance Authority, Series 2018, RB                                                                  | CUSIP: 64971XFY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000000.00   | 2.82%             | 2045-08-01      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp. (Newman International Academy)                                                | Arlington Higher Education Finance Corp. (Newman International Academy), Series 2021, RB                                                | CUSIP: 041806F39<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $106553.51    | 0.10%             | 2051-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bucks County Industrial Development Authority                                                                          | Bucks County Industrial Development Authority, Series 2021, RB                                                                          | CUSIP: 11861MBN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1476750.45   | 1.39%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana (State of) Finance Authority (U.S. Steel Corp.)                                                                | Indiana (State of) Finance Authority (U.S. Steel Corp.), Series 2021 A, Ref. RB                                                         | CUSIP: 455054BE5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    500000 | PA      | $501647.70    | 0.47%             | 2026-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport)              | New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport), Series 2021, Ref. RB         | CUSIP: 650116EZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $477825.35    | 0.45%             | 2031-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Finance Authority                                                                        | Kentucky Economic Development Finance Authority, Series 2021, RB                                                                        | CUSIP: 49126TBB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1398323.70   | 1.32%             | 2040-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Allentown (City of), PA Neighborhood Improvement Zone Development Authority                                            | Allentown (City of), PA Neighborhood Improvement Zone Development Authority, Series 2022, Ref. RB                                       | CUSIP: 018444BV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $573169.49    | 0.54%             | 2033-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Houston (City of), TX (United Airlines, Inc.)                                                                          | Houston (City of), TX (United Airlines, Inc.), Series 2021 B-1, RB                                                                      | CUSIP: 442349GA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $461136.70    | 0.43%             | 2041-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico (Commonwealth of) Aqueduct & Sewer Authority                                                               | Puerto Rico (Commonwealth of) Aqueduct & Sewer Authority, Series 2022 A, Ref. RB                                                        | CUSIP: 745160UA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $517321.40    | 0.49%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan (State of) Strategic Fund (Green Bonds)                                                                       | Michigan (State of) Strategic Fund (Green Bonds), Series 2021, RB                                                                       | CUSIP: 594698SR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $499704.85    | 0.47%             | 2026-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Black Desert Public Infrastructure District                                                                            | Black Desert Public Infrastructure District, Series 2021 A, GO Bonds                                                                    | CUSIP: 09204PAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $480713.65    | 0.45%             | 2031-03-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Pima (County of), AZ Industrial Development Authority (American Leadership Academy)                                    | Pima (County of), AZ Industrial Development Authority (American Leadership Academy), Series 2022, Ref. RB                               | CUSIP: 72177MUN5<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |    500000 | PA      | $497407.55    | 0.47%             | 2031-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico (Commonwealth of)                                                                                          | Puerto Rico (Commonwealth of), Series 2021 A-1, GO Bonds                                                                                | CUSIP: 74514L3K1<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    500000 | PA      | $505678.55    | 0.48%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Henderson KY                                                                                                   | City of Henderson KY, Series 2022, RB                                                                                                   | CUSIP: 425099AA6<br>LEI: 549300UJ32J1O26W1T80 | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1224703.10   | 1.15%             | 2042-01-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp. (Mater Academy)                                                                      | Florida Development Finance Corp. (Mater Academy), Series 2022 A, RB                                                                    | CUSIP: 34061UKQ0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $981031.70    | 0.92%             | 2056-06-15      | Fixed         | 5.00%                 | 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        |    500000 | PA      | $503229.10    | 0.47%             | 2028-11-12      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp. (Purple Line) (Green Bonds)                                                        | Maryland Economic Development Corp. (Purple Line) (Green Bonds), Series 2022, RB                                                        | CUSIP: 57422JBY3<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    750000 | PA      | $753381.75    | 0.71%             | 2047-06-30      | Fixed         | 5.25%                 | 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: 46246SAW5<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    500000 | PA      | $550011.90    | 0.52%             | 2032-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania (Commonwealth of) Economic Development Financing Authority (Penndot Major Bridges (The))                  | Pennsylvania (Commonwealth of) Economic Development Financing Authority (Penndot Major Bridges (The)), Series 2022, RB                  | CUSIP: 70868YAP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $551008.30    | 0.52%             | 2038-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cuyahoga County Port Authority                                                                               | Cleveland-Cuyahoga County Port Authority, Series 2017, RB                                                                               | CUSIP: 186103KK2<br>LEI: 549300KI3FXFLUKF3A98 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1033129.40   | 0.97%             | 2048-11-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| California (State of) Pollution Control Financing Authority (Poseidon Resources L.P.)                                  | California (State of) Pollution Control Financing Authority (Poseidon Resources L.P.), Series 2023, RB                                  | CUSIP: 13054WBD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $541765.90    | 0.51%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Portland (Port of), OR (Green Bonds)                                                                                   | Portland (Port of), OR (Green Bonds), Twenty Ninth Series 2023, RB                                                                      | CUSIP: 7352403D3<br>LEI: 549300BRH7XZ3ZK0DS46 | Long             | DBT              | MUN               | US        |    700000 | PA      | $776466.04    | 0.73%             | 2039-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Montgomery (County of), PA Industrial Development Authority (Constellation Energy Generation, LLC)                     | Montgomery (County of), PA Industrial Development Authority (Constellation Energy Generation, LLC), Series 2023 B, Ref. RB              | CUSIP: 61361TAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $418432.72    | 0.39%             | 2029-06-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Whiting (City of), IN (BP Products North America, Inc.)                                                                | Whiting (City of), IN (BP Products North America, Inc.), Series 2015, RB                                                                | CUSIP: 96634RAW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $263183.28    | 0.25%             | 2031-06-10      | Variable      | 4.40%                 | No            |                  2 | On Loan: No      |
| Arkansas (State of) Development Finance Authority (U.S. Steel Corp.) (Green Bonds)                                     | Arkansas (State of) Development Finance Authority (U.S. Steel Corp.) (Green Bonds), Series 2023, RB                                     | CUSIP: 04110FAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $508415.45    | 0.48%             | 2053-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Wildwood (City of), FL Village Community Development Disctrict No. 15                                                  | Wildwood (City of), FL Village Community Development Disctrict No. 15, Series 2023, RB                                                  | CUSIP: 92708KAE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003726.00   | 0.94%             | 2054-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Patriots Energy Group Financing Agency                                                                                 | Patriots Energy Group Financing Agency, Series 2023 A-1, RB                                                                             | CUSIP: 70342PAN4<br>LEI: 5493008X0DFBVFH4HL19 | Long             | DBT              | MUN               | US        |    500000 | PA      | $538047.65    | 0.51%             | 2031-08-01      | Variable      | 5.25%                 | 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 2023, RB                                 | CUSIP: 650116GN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1107028.30   | 1.04%             | 2035-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Virginia Beach Development Authority (Westminster-Canterbury on Chesapeake Bay)                                        | Virginia Beach Development Authority (Westminster-Canterbury on Chesapeake Bay), Series 2023, RB                                        | CUSIP: 92774NBC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1093856.00   | 1.03%             | 2059-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Virginia Beach Development Authority (Westminster-Canterbury on Chesapeake Bay)                                        | Virginia Beach Development Authority (Westminster-Canterbury on Chesapeake Bay), Series 2023 B-3, RB                                    | CUSIP: 92774NBF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011625.10   | 0.95%             | 2029-09-01      | Fixed         | 5.38%                 | 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: 340618DK0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    250000 | PA      | $90000.00     | 0.08%             | 2028-07-15      | Variable      | 12.00%                | 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: 340618DT1<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $375000.00    | 0.35%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Mobile (County of), AL Industrial Development Authority (AM/NS Calvert LLC)                                            | Mobile (County of), AL Industrial Development Authority (AM/NS Calvert LLC), Series 2024, RB                                            | CUSIP: 60733UAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $963701.70    | 0.91%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lee (County of), FL Industrial Development Authority (Shell Point Obligated Group)                                     | Lee (County of), FL Industrial Development Authority (Shell Point Obligated Group), Series 2024 B-3, RB                                 | CUSIP: 52349EET3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $201362.24    | 0.19%             | 2029-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| South Carolina (State of) Jobs-Economic Development Authority (Beaufort Memorial Hospital & South of Broad Healthcare) | South Carolina (State of) Jobs-Economic Development Authority (Beaufort Memorial Hospital & South of Broad Healthcare), Series 2024, RB | CUSIP: 83704HAM9<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1526376.30   | 1.44%             | 2054-11-15      | 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      | $1010882.10   | 0.95%             | 2060-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Virgin Islands (Government of) Public Finance Authority (Frenchman's Reef Hotel Development)                           | Virgin Islands (Government of) Public Finance Authority (Frenchman's Reef Hotel Development), Series 2024 A, RB                         | CUSIP: 927677AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250211.90    | 0.24%             | 2053-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Houston (City of), TX (United Airlines, Inc.)                                                                          | Houston (City of), TX (United Airlines, Inc.), Series 2024 B, RB                                                                        | CUSIP: 442349HY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $542130.90    | 0.51%             | 2038-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Pottsville Hospital Authority/PA                                                                                       | Pottsville Hospital Authority/PA, Series 2016, RB                                                                                       | CUSIP: 738435CT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $326211.73    | 0.31%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                                                               | Arizona Industrial Development Authority, Series 2025, RB                                                                               | CUSIP: 04052BTS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $497401.10    | 0.47%             | 2035-07-01      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| Iowa (State of) Finance Authority (Alcoa, Inc.)                                                                        | Iowa (State of) Finance Authority (Alcoa, Inc.), Series 2012, RB                                                                        | CUSIP: 46246SAE5<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000166.50   | 0.94%             | 2042-08-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority (St.Johns Classical Academy, Inc.)                                                             | Capital Trust Authority (St.Johns Classical Academy, Inc.), Series 2025, Ref. RB                                                        | CUSIP: 14054WBQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $229379.70    | 0.22%             | 2050-06-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Ohio (State of) Housing Finance Agency (Haven's Edge Apartments)                                                       | Ohio (State of) Housing Finance Agency (Haven's Edge Apartments), Series 2025, RB                                                       | CUSIP: 676900XN8<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |    500000 | PA      | $522486.75    | 0.49%             | 2043-08-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Marion (City of), IL (Star Bond District Project Area No. 1)                                                           | Marion (City of), IL (Star Bond District Project Area No. 1), Series 2025, RB                                                           | CUSIP: 569498AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250342.50    | 0.24%             | 2045-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp.                                                                   | New Hope Cultural Education Facilities Finance Corp., Series 2025 A, RB                                                                 | CUSIP: 64542UHG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $258038.48    | 0.24%             | 2060-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority (KSU Bixby Real Estate Foundation LLC)                                                        | Public Finance Authority (KSU Bixby Real Estate Foundation LLC), Series 2025, RB                                                        | CUSIP: 74439YFV8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    500000 | PA      | $501665.60    | 0.47%             | 2055-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| West Virginia (State of) Economic Development Authority (Core Natural Resources, Inc.)                                 | West Virginia (State of) Economic Development Authority (Core Natural Resources, Inc.), Series 2025, Ref. RB                            | CUSIP: 95648VBU2<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |    250000 | PA      | $272979.48    | 0.26%             | 2035-03-27      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| Massachusetts (Commonwealth of) Development Finance Agency (Lasell Village, Inc.)                                      | Massachusetts (Commonwealth of) Development Finance Agency (Lasell Village, Inc.), Series 2025, RB                                      | CUSIP: 57585BJU3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $504110.80    | 0.47%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Capital Projects Finance Authority (Millenia Orlando)                                                                  | Capital Projects Finance Authority (Millenia Orlando), Series 2025 A, RB                                                                | CUSIP: 14043HAC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $517506.00    | 0.49%             | 2045-01-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| California (State of) Municipal Finance Authority (California Baptist University)                                      | California (State of) Municipal Finance Authority (California Baptist University), Series 2025, RB                                      | CUSIP: 13048V3G1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    500000 | PA      | $508717.35    | 0.48%             | 2054-11-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Mida Cormont Public Infrastructure District                                                                            | Mida Cormont Public Infrastructure District, Series 2025 A-1, GO Bonds                                                                  | CUSIP: 59561JAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $261776.50    | 0.25%             | 2055-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Mission Economic Development Corp. (Green Bonds)                                                                       | Mission Economic Development Corp. (Green Bonds), Series 2025, RB                                                                       | CUSIP: 605155BW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $259492.73    | 0.24%             | 2030-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority (Milo Farms Project)                                                                          | Public Finance Authority (Milo Farms Project), Series 2025, RB                                                                          | CUSIP: 74442PP25<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    750000 | PA      | $268340.40    | 0.25%             | 2039-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Missouri (State of) Health & Educational Facilities Authority (Missouri Baptist University)                            | Missouri (State of) Health & Educational Facilities Authority (Missouri Baptist University), Series 2025, Ref. RB                       | CUSIP: 60636AXT5<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    215000 | PA      | $219199.21    | 0.21%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp. (John F. Kennedy International Airport) (Green Bonds)                        | New York Transportation Development Corp. (John F. Kennedy International Airport) (Green Bonds), Series 2025, RB                        | CUSIP: 650116JP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1060618.80   | 1.00%             | 2055-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Sierra (City of), AZ Vista Industrial Development Authority (Wake Preparatory Academy)                                 | Sierra (City of), AZ Vista Industrial Development Authority (Wake Preparatory Academy), Series 2025, RB                                 | CUSIP: 82652UBF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502343.40    | 0.47%             | 2050-06-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                                               | Public Finance Authority, Series 2025, RB                                                                                               | CUSIP: 74448UAB4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036392.20   | 0.98%             | 2060-06-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Dayton-Montgomery County Port Authority (Liberty Assisted Living Springfield)                                          | Dayton-Montgomery County Port Authority (Liberty Assisted Living Springfield), Series 2025, RB                                          | CUSIP: 23982CAM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $525041.55    | 0.49%             | 2045-01-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Charlotte (County of), FL Industrial Development Authority (Town & Country Utilities)                                  | Charlotte (County of), FL Industrial Development Authority (Town & Country Utilities), Series 2025, RB                                  | CUSIP: 16080TAL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $517681.55    | 0.49%             | 2055-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                                               | Public Finance Authority, Series 2025, RB                                                                                               | CUSIP: 74448UAD0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    500000 | PA      | $517445.40    | 0.49%             | 2065-12-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| City of Garden City KS                                                                                                 | City of Garden City KS, Series 2025, RB                                                                                                 | CUSIP: 36508AAC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $508444.95    | 0.48%             | 2039-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                                                         | Black Belt Energy Gas District, Series 2025, RB                                                                                         | CUSIP: 09182TEW3<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043553.10   | 0.98%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Okaloosa FL                                                                                                  | County of Okaloosa FL, Series 2025, RB                                                                                                  | CUSIP: 678226AB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023396.90   | 0.96%             | 2045-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                                               | Public Finance Authority, Series 2025, RB                                                                                               | CUSIP: 74443DMJ7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010499.80   | 0.95%             | 2045-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                                                      | State of Illinois, Series 2025, GO Bonds                                                                                                | CUSIP: 452153PP8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1042989.10   | 0.98%             | 2045-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                                                       | Kentucky Public Energy Authority, Series 2025, RB                                                                                       | CUSIP: 74440DFQ2<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1048805.90   | 0.99%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tempe Industrial Development Authority                                                                                 | Tempe Industrial Development Authority, Series 2025, RB                                                                                 | CUSIP: 87972MBY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020760.30   | 0.96%             | 2046-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                                                               | Build NYC Resource Corp., Series 2025, RB                                                                                               | CUSIP: 12008EWU6<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $986982.20    | 0.93%             | 2045-10-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Delaware State Economic Development Authority                                                                          | Delaware State Economic Development Authority, Series 2020, RB                                                                          | CUSIP: 246387SY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019316.30   | 0.96%             | 2035-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Ulster County Capital Resource Corp.                                                                                   | Ulster County Capital Resource Corp., Series 2025, RB                                                                                   | CUSIP: 903768AH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002897.50   | 0.94%             | 2059-09-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Village Community Development District No 16                                                                           | Village Community Development District No 16, Series 2025, RB                                                                           | CUSIP: 92708MAD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003673.40   | 0.94%             | 2045-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                                                                     | South Carolina Jobs-Economic Development Authority, Series 2025, RB                                                                     | CUSIP: 837033KY4<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    500000 | PA      | $506747.05    | 0.48%             | 2050-12-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                                                              | New Jersey Economic Development Authority, Series 2025, RB                                                                              | CUSIP: 645912GB6<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $989561.90    | 0.93%             | 2055-11-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| State of Ohio                                                                                                          | State of Ohio, Series 2025, RB                                                                                                          | CUSIP: 67756CGY8<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5000000.00   | 4.70%             | 2050-01-15      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| Greater Orlando Aviation Authority                                                                                     | Greater Orlando Aviation Authority, Series 2025, RB                                                                                     | CUSIP: 39227AAB8<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1074919.40   | 1.01%             | 2035-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                                                            | Washington State Housing Finance Commission, Series 2025, RB                                                                            | CUSIP: 939783Z33<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005311.70   | 0.95%             | 2046-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                                                                    | Wisconsin Health & Educational Facilities Authority, Series 2025, RB                                                                    | CUSIP: 97671VCW3<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $993971.50    | 0.94%             | 2045-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Columbus-Franklin County Finance Authority                                                                             | Columbus-Franklin County Finance Authority, Series 2025, RB                                                                             | CUSIP: 19910XAR7<br>LEI: 549300NX3ODQN2ETOO82 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007528.80   | 0.95%             | 2046-01-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                                                         | Black Belt Energy Gas District, Series 2025, RB                                                                                         | CUSIP: 09182TGL5<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1075131.80   | 1.01%             | 2034-08-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                                                    | BL Train Holdings West LLC, Wrts. 2035-11-26                                                                                            | CUSIP: 05594N118<br>LEI: N/A                  | N/A              | DE               |  | N/A       |      3000 | NS      | $7500.00      | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| California Infrastructure & Economic Development Bank                                                                  | California Infrastructure & Economic Development Bank, Series 2025, RB                                                                  | CUSIP: 13034A7E4<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    365000 | PA      | $273750.00    | 0.26%             | 2026-11-02      | Variable      | 12.00%                | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                                                                     | South Carolina Jobs-Economic Development Authority, Series 2025, RB                                                                     | CUSIP: 837031J61<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002864.70   | 0.94%             | 2051-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Colorado State University Research Foundation                                                                          | Colorado State University Research Foundation, Series 2025, RB                                                                          | CUSIP: 22945UAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $982678.30    | 0.92%             | 2055-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Cumberland County Municipal Authority                                                                                  | Cumberland County Municipal Authority, Series 2026, RB                                                                                  | CUSIP: 230614TZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011975.30   | 0.95%             | 2051-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                               | Massachusetts Development Finance Agency, Series 2018, RB                                                                               | CUSIP: 57584YHH5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $981333.10    | 0.92%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kalamazoo Economic Development Corp.                                                                                   | Kalamazoo Economic Development Corp., Series 2026, RB                                                                                   | CUSIP: 483228EF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1315000 | PA      | $1336759.83   | 1.26%             | 2046-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia (Provident Group - Howard Properties LLC)                                                         | District of Columbia (Provident Group - Howard Properties LLC), Series 2013, RB                                                         | CUSIP: 25483WAK8<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    350000 | PA      | $330875.86    | 0.31%             | 2045-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Muskingum (County of), OH (Genesis Healthcare System)                                                                  | Muskingum (County of), OH (Genesis Healthcare System), Series 2013, RB                                                                  | CUSIP: 628077CK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1429654.35   | 1.35%             | 2048-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico (State of) Hospital Equipment Loan Council (Presbyterian Healthcare)                                        | New Mexico (State of) Hospital Equipment Loan Council (Presbyterian Healthcare), Series 2008, RB                                        | CUSIP: 647370EK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5000000.00   | 4.70%             | 2034-08-01      | Variable      | 3.25%                 | No            |                  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: 13080SEV2<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500617.05    | 0.47%             | 2034-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chicago (City of), IL Board of Education                                                                               | Chicago (City of), IL Board of Education, Series 2012 B, Ref. GO Bonds                                                                  | CUSIP: 167505PT7<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500005.05    | 0.47%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington (State of) Health Care Facilities Authority (Providence Health & Services)                                  | Washington (State of) Health Care Facilities Authority (Providence Health & Services), Series 2012 A, RB                                | CUSIP: 93978HFW0<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500347.25    | 0.47%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp.                                                                                     | Tobacco Settlement Financing Corp., Series 2015 B, Ref. RB                                                                              | CUSIP: 888809BG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $988828.50    | 0.93%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago (City of), IL Board of Education                                                                               | Chicago (City of), IL Board of Education, Series 2015 C, GO Bonds                                                                       | CUSIP: 167505QP4<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    340000 | PA      | $340007.96    | 0.32%             | 2035-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                                 | California Statewide Communities Development Authority, Series 2015, RB                                                                 | CUSIP: 13080SJM7<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    580000 | PA      | $580197.37    | 0.55%             | 2045-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-02

**Name of Applicant:** Invesco Actively Managed Exchange-Traded Fund Trust

**Signature:** Adrien Deberghes

**Name of Signer:** Adrien Deberghes

**Title:** Vice President