NPORT-EX 2 edgar.htm HTML

Schedule of Investments

November 30, 2022

(Unaudited)

 

    

Interest

Rate

     

Maturity

Date

     

Principal

Amount

(000)

     

Value

  

 

  

Municipal Obligations–166.48%(a)

           

Pennsylvania–156.18%

            

Allegheny (County of), PA;

            

Series 2016 C-76, GO Bonds

      5.00%        11/01/2041      $ 10,410      $     11,014,699  

 

  

Series 2020 C-78, GO Bonds

      4.00%        11/01/2049        2,000        1,889,486  

 

  

Allegheny (County of), PA Airport Authority; Series 2021 A, RB(b)

     4.00%        01/01/2056        3,000        2,592,684  

 

  

Allegheny (County of), PA Higher Education Building Authority (Duquesne University); Series 2013 A, RB(c)(d)

     5.00%        03/01/2023        1,600        1,609,676  

 

  

Allegheny (County of), PA Hospital Development Authority (Allegheny Health Network Obligated Group Issue);

            

Series 2018 A, RB(e)(f)

     5.00%        04/01/2047        7,885        7,984,404  

 

  

Series 2018 A, Ref. RB

      5.00%        04/01/2047        1,000        1,012,607  

 

  

Allegheny (County of), PA Hospital Development Authority (University of Pittsburgh Medical Center);

            

Series 2007 A-1, RB (67% of 3 mo. USD LIBOR + 0.82%)(g)

     3.80%        02/01/2037        1,670        1,639,545  

 

  

Series 2019 A, Ref. RB

      4.00%        07/15/2038        3,915        3,808,176  

 

  

Allegheny (County of), PA Sanitary Authority;

            

Series 2015, RB(f)

     5.00%        12/01/2045        7,880        8,212,778  

 

  

Series 2018, RB

      4.00%        06/01/2048        2,100        1,988,670  

 

  

Series 2022, RB

      5.75%        06/01/2052        1,750        1,987,721  

 

  

Allentown (City of), PA Neighborhood Improvement Zone Development Authority; Series 2022, Ref. RB

      5.00%        05/01/2042        1,000        980,572  

 

  

Allentown (City of), PA Neighborhood Improvement Zone Development Authority (City Center); Series 2018, RB(h)

     5.00%        05/01/2042        500        454,001  

 

  

Berks (County of), PA Industrial Development Authority (Highlands at Wyomissing (The));

            

Series 2017 A, Ref. RB

      5.00%        05/15/2042        500        472,691  

 

  

Series 2017 A, Ref. RB

      5.00%        05/15/2047        600        560,674  

 

  

Series 2017 C, RB

      5.00%        05/15/2047        1,175        1,113,105  

 

  

Berks (County of), PA Municipal Authority (Reading Hospital Medical Center); Series 2012 A, RB

      5.00%        11/01/2044        3,500        2,448,849  

 

  

Bucks (County of), PA Industrial Development Authority (Pennswood Village); Series 2018, Ref. RB

      5.00%        10/01/2037        980        981,182  

 

  

Centre (County of), PA Hospital Authority (Mt. Nittany Medical Center); Series 2016 A, Ref. RB(c)(d)

     5.00%        11/15/2025        900        960,701  

 

  

Chester (County of), PA Health & Education Facilities Authority (Simpson Senior Services); Series 2019, Ref. RB

      5.00%        12/01/2051        3,625        3,051,340  

 

  

Chester (County of), PA Industrial Development Authority (Avon Grove Charter School); Series 2017 A, Ref. RB

      5.00%        12/15/2047        1,160        1,161,087  

 

  

Chester (County of), PA Industrial Development Authority (Collegium Charter School); Series 2017 A, RB

      5.25%        10/15/2047        2,555        2,283,161  

 

  

Chester (County of), PA Industrial Development Authority (Longwood Gardens);

            

Series 2019, RB

      5.00%        12/01/2044        2,250        2,435,119  

 

  

Series 2019, RB

      4.00%        12/01/2049        1,650        1,531,848  

 

  

Chester (County of), PA Industrial Development Authority (University Student Housing, LLC at West Chester University of Pennsylvania); Series 2013, RB

      5.00%        08/01/2045        2,425        2,245,097  

 

  

Clairton (City of), PA Municipal Authority; Series 2012 B, RB

      5.00%        12/01/2037        2,000        2,001,254  

 

  

Coatesville School District;

            

Series 2020 A, GO Bonds (INS - BAM)(i)(j)

     0.00%        10/01/2034        150        88,244  

 

  

Series 2020 A, GO Bonds (INS - BAM)(i)(j)

     0.00%        10/01/2038        1,450        676,026  

 

  

Series 2020 B, Ref. GO Bonds (INS - BAM)(i)(j)

     0.00%        10/01/2033        275        170,838  

 

  

Series 2020 B, Ref. GO Bonds (INS - BAM)(i)(j)

     0.00%        10/01/2034        550        323,561  

 

  

Series 2020 C, Ref. GO Bonds (INS - BAM)(i)(j)

     0.00%        10/01/2033        360        223,642  

 

  

Commonwealth Financing Authority;

            

Series 2018, RB(e)(f)

     5.00%        06/01/2031        3,500        3,820,127  

 

  

Series 2018, RB(e)(f)

     5.00%        06/01/2032        2,000        2,176,437  

 

  

Series 2018, RB(e)(f)

     5.00%        06/01/2033        2,000        2,169,672  

 

  

Series 2018, RB(e)(f)

     5.00%        06/01/2035        3,045        3,268,365  

 

  

Cumberland (County of), PA Municipal Authority (Diakon Lutheran);

            

Series 2015, Ref. RB(c)(d)

     5.00%        01/01/2025        1,920        2,009,095  

 

  

Series 2015, Ref. RB

      5.00%        01/01/2038        2,345        2,364,245  

 

  

Cumberland (County of), PA Municipal Authority (Penn State Health); Series 2019, RB

      4.00%        11/01/2044        2,000        1,864,651  

 

  

Dauphin (County of), PA General Authority (Pinnacle Health System); Series 2016 A, Ref. RB

      5.00%        06/01/2035        1,145        1,182,755  

 

  

 

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

 

  Invesco Pennsylvania Value Municipal Income Trust

    

Interest

Rate

   

Maturity

Date

   

Principal

Amount

(000)

     

Value

  

 

  

Pennsylvania–(continued)

            

Delaware (County of), PA Authority (Villanova University); Series 2015, RB

    5.00%    08/01/2045      $     785      $          813,752  

 

  

Delaware River Port Authority; Series 2013, RB(c)(d)

   5.00%    01/01/2024      1,000        1,025,489  

 

  

Delaware River Port Authority (Port District);

            

Series 2012, Ref. RB(c)

   5.00%    01/01/2023      1,290        1,292,557  

 

  

Series 2012, Ref. RB(c)

   5.00%    01/01/2023      2,175        2,179,311  

 

  

Delaware Valley Regional Finance Authority; Series 2002, RB

    5.75%    07/01/2032      3,500        4,215,744  

 

  

Doylestown (City of), PA Hospital Authority; Series 2019 A, RB

    4.00%    07/01/2045      500        362,638  

 

  

DuBois (City of), PA Hospital Authority (Penn Highlands Healthcare); Series 2018, Ref. RB

    5.00%    07/15/2048      2,350        2,397,048  

 

  

East Hempfield (Township of), PA Industrial Development Authority (Student Services, Inc. Student Housing at Millersville University of Pennsylvania);

            

Series 2013, RB(c)(d)

   5.00%    07/01/2023      750        758,928  

 

  

Series 2013, RB(c)(d)

   5.00%    07/01/2023      3,770        3,814,876  

 

  

Series 2014, RB(c)(d)

   5.00%    07/01/2024      750        775,776  

 

  

East Hempfield (Township of), PA Industrial Development Authority (Willow Valley Communities);

            

Series 2016, Ref. RB

    5.00%    12/01/2030      790        824,094  

 

  

Series 2016, Ref. RB

    5.00%    12/01/2039      2,780        2,860,759  

 

  

Erie (City of), PA Higher Education Building Authority (AICUP Financing Program);

            

Series 2021, RB

    4.00%    05/01/2036      100        91,603  

 

  

Series 2021, RB

    4.00%    05/01/2041      400        345,145  

 

  

Series 2021, RB

    5.00%    05/01/2047      150        146,109  

 

  

Franklin (County of), PA Industrial Development Authority (Menno-Haven, Inc.);

            

Series 2018, Ref. RB

    5.00%    12/01/2053      3,380        2,714,948  

 

  

Series 2019, RB

    5.00%    12/01/2049      510        417,120  

 

  

Franklin Regional School District; Series 2019, GO Bonds

    4.00%    05/01/2046      2,000        1,934,116  

 

  

Fulton (County of), PA Industrial Development Authority (The Fulton County Medical Center); Series 2016, Ref. RB

    5.00%    07/01/2040      4,375        4,381,884  

 

  

Geisinger Authority (Geisinger Health System);

            

Series 2017 A-1, Ref. RB

    5.00%    02/15/2045      6,060        6,151,354  

 

  

Series 2017 A-1, Ref. RB

    4.00%    02/15/2047      2,000        1,840,284  

 

  

Lancaster (City of), PA Industrial Development Authority (Landis Homes Retirement Community); Series 2021, Ref. RB

    4.00%    07/01/2056      1,000        744,515  

 

  

Lancaster (City of), PA Industrial Development Authority (Willow Valley Communities); Series 2019, RB

    5.00%    12/01/2049      1,545        1,612,393  

 

  

Lancaster (County of), PA Hospital Authority (Brethren Village);

            

Series 2017, Ref. RB

    5.13%    07/01/2037      700        655,857  

 

  

Series 2017, Ref. RB

    5.25%    07/01/2041      1,500        1,400,385  

 

  

Lancaster (County of), PA Hospital Authority (Landis Homes Retirement Community); Series 2015, Ref. RB

    5.00%    07/01/2045      3,800        3,565,170  

 

  

Lancaster (County of), PA Hospital Authority (Masonic Villages); Series 2015, Ref. RB

    5.00%    11/01/2035      790        802,869  

 

  

Lancaster (County of), PA Hospital Authority (Penn State Health); Series 2021, RB

    5.00%    11/01/2046      3,250        3,324,583  

 

  

Lancaster (County of), PA Solid Waste Management Authority; Series 2013 A, RB(c)(d)

   5.25%    12/15/2023      1,000        1,027,040  

 

  

Lancaster School District; Series 2020, GO Bonds (INS - AGM)(i)

   4.00%    06/01/2036      1,275        1,297,395  

 

  

Latrobe (City of), PA Industrial Development Authority (Seton Hill University);

            

Series 2021, Ref. RB

    4.00%    03/01/2046      265        215,946  

 

  

Series 2021, Ref. RB

    4.00%    03/01/2051      265        208,334  

 

  

Lehigh (County of), PA (Lehigh Valley Health Network);

            

Series 2019 A, Ref. RB

    5.00%    07/01/2044      3,000        3,045,245  

 

  

Series 2019, Ref. RB

    4.00%    07/01/2049      3,500        3,153,044  

 

  

Lehigh (County of), PA General Purpose Authority (Lehigh Valley Academy); Series 2022, RB

    4.00%    06/01/2052      2,000        1,713,658  

 

  

Maxatawny (Township of), PA Municipal Authority (Diakon Lutheran Social);

            

Series 2022 A, RB

    5.00%    01/01/2042      500        491,531  

 

  

Series 2022 A, RB

    4.50%    01/01/2045      450        397,049  

 

  

Mechanicsburg Area School District; Series 2020 AA, GO Bonds

    4.00%    05/15/2050      2,000        1,879,880  

 

  

Montgomery (County of), PA Higher Education & Health Authority (Holy Redeemer Health System); Series 2014, Ref. RB

    5.00%    10/01/2027      1,460        1,469,525  

 

  

Montgomery (County of), PA Higher Education & Health Authority (Philadelphia Presbytery Homes, Inc.); Series 2017, Ref. RB

    5.00%    12/01/2047      4,915        4,725,187  

 

  

Montgomery (County of), PA Higher Education & Health Authority (Thomas Jefferson University);

            

Series 2019, Ref. RB

    4.00%    09/01/2049      2,500        2,208,872  

 

  

Series 2022 B, Ref. RB

    4.00%    05/01/2052      2,000        1,742,101  

 

  

 

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

 

  Invesco Pennsylvania Value Municipal Income Trust

    

Interest

Rate

   

Maturity

Date

   

Principal

Amount

(000)

     

Value

  

 

  

Pennsylvania–(continued)

            

Montgomery (County of), PA Industrial Development Authority (ACTS Retirement-Life Communities, Inc.);

            

Series 2016, Ref. RB

    5.00%    11/15/2036      $  4,285      $       4,289,450  

 

  

Series 2020 C, RB

    4.00%    11/15/2043      200        167,557  

 

  

Series 2020 C, RB

    5.00%    11/15/2045      380        366,911  

 

  

Montgomery (County of), PA Industrial Development Authority (Albert Einstein Healthcare); Series 2015, Ref. RB(c)(d)

   5.25%    01/15/2025      3,150        3,304,943  

 

  

Montgomery (County of), PA Industrial Development Authority (Germantown Academy); Series 2021, Ref. RB

    4.00%    10/01/2036      1,000        912,073  

 

  

Montgomery (County of), PA Industrial Development Authority (Haverford School); Series 2019, Ref. RB

    4.00%    03/01/2049      1,750        1,566,400  

 

  

Montgomery (County of), PA Industrial Development Authority (Meadwood Senior Living); Series 2018 A, Ref. RB

    5.00%    12/01/2048      1,270        1,244,653  

 

  

Montgomery (County of), PA Industrial Development Authority (Waverly Heights Ltd.); Series 2019, Ref. RB

    5.00%    12/01/2044      1,000        1,024,973  

 

  

Northampton (County of), PA General Purpose Authority (LaFayette College); Series 2017, Ref. RB

    5.00%    11/01/2047      3,865        4,015,072  

 

  

Northampton (County of), PA General Purpose Authority (St. Luke’s University Health Network);

            

Series 2016, Ref. RB

    5.00%    08/15/2036      1,170        1,206,800  

 

  

Series 2018 A, Ref. RB

    4.00%    08/15/2048      2,355        2,177,926  

 

  

Northampton (County of), PA General Purpose Authority (St. Luke’s University Health); Series 2016, Ref. RB

    5.00%    08/15/2046      625        628,351  

 

  

Northampton (County of), PA Industrial Development Authority (Morningstar Senior Living, Inc.);

            

Series 2019, Ref. RB

    5.00%    11/01/2039      500        459,758  

 

  

Series 2019, Ref. RB

    5.00%    11/01/2044      950        845,561  

 

  

Series 2019, Ref. RB

    5.00%    11/01/2049      1,050        910,593  

 

  

Northeastern Pennsylvania (Commonwealth of) Hospital & Education Authority (Kings College); Series 2019, RB

    5.00%    05/01/2049      3,200        3,139,870  

 

  

Pennsylvania (Commonwealth of);

            

First Series 2013, GO Bonds(c)

   5.00%    04/01/2023      15,000        15,125,844  

 

  

First Series 2020, GO Bonds

    2.13%    05/01/2040      2,500        1,781,187  

 

  

Series 2018 A, Ref. COP

    4.00%    07/01/2046      1,960        1,877,516  

 

  

Series 2022, GO Bonds

    5.00%    10/01/2042      1,000        1,116,823  

 

  

Pennsylvania (Commonwealth of) (Municipal Real Estate Funding, LLC); Series 2018 A, Ref. COP

    5.00%    07/01/2043      2,160        2,276,926  

 

  

Pennsylvania (Commonwealth of) Economic Development Financing Authority (Capital Region Parking System); Series 2013, RB

    6.00%    07/01/2053      3,280        3,360,102  

 

  

Pennsylvania (Commonwealth of) Economic Development Financing Authority (Covanta Holding Corp.) (Green Bonds); Series 2019 A, RB(b)(h)

   3.25%    08/01/2039      2,600        1,973,993  

 

  

Pennsylvania (Commonwealth of) Economic Development Financing Authority (National Gypson Co.); Series 2014, Ref. RB(b)

   5.50%    11/01/2044      2,365        2,349,987  

 

  

Pennsylvania (Commonwealth of) Economic Development Financing Authority (PA Bridges Finco L.P.); Series 2015, RB(b)

   5.00%    12/31/2034      2,760        2,798,624  

 

  

Pennsylvania (Commonwealth of) Economic Development Financing Authority (Pennsylvania Rapid Bridge Replacement);

            

Series 2015, RB(b)

   5.00%    12/31/2038      1,640        1,647,375  

 

  

Series 2015, RB(b)

   5.00%    06/30/2042      1,750        1,754,516  

 

  

Pennsylvania (Commonwealth of) Economic Development Financing Authority (Philadelphia Biosolids Facilities); Series 2020, Ref. RB

    4.00%    01/01/2032      400        396,708  

 

  

Pennsylvania (Commonwealth of) Economic Development Financing Authority (Presbyterian Senior Living);

            

Series 2021, Ref. RB

    4.00%    07/01/2041      350        302,594  

 

  

Series 2021, Ref. RB

    4.00%    07/01/2046      1,000        827,300  

 

  

Pennsylvania (Commonwealth of) Economic Development Financing Authority (UPMC);

            

Series 2021 A, Ref. RB

    4.00%    10/15/2051      1,500        1,337,365  

 

  

Series 2022 A, Ref. RB

    4.00%    02/15/2052      500        444,291  

 

  

Pennsylvania (Commonwealth of) Higher Educational Facilities Authority (Drexel University);

            

Series 2016, Ref. RB

    5.00%    05/01/2035      3,590        3,715,594  

 

  

Series 2020 A, Ref. RB (INS - AGM)(i)

   4.00%    05/01/2041      3,000        2,902,373  

 

  

Series 2020 A, Ref. RB (INS - AGM)(i)

   4.00%    05/01/2050      1,750        1,585,421  

 

  

Pennsylvania (Commonwealth of) Higher Educational Facilities Authority (La Salle University); Series 2012, RB

    5.00%    05/01/2042      3,320        2,765,356  

 

  

 

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

 

  Invesco Pennsylvania Value Municipal Income Trust

    

Interest

Rate

     

Maturity

Date

     

Principal

Amount

(000)

     

Value

  

 

  

Pennsylvania–(continued)

            

Pennsylvania (Commonwealth of) Higher Educational Facilities Authority (Thomas Jefferson University); Series 2015, Ref. RB

      5.25%        09/01/2050        $  3,155      $       3,193,728  

 

  

Pennsylvania (Commonwealth of) Higher Educational Facilities Authority (Trustees University of Pennsylvania); Series 2017, RB(f)

     5.00%        08/15/2046        7,800        8,197,756  

 

  

Pennsylvania (Commonwealth of) Higher Educational Facilities Authority (University of Pennsylvania Health System);

            

Series 2017 A, RB

      5.00%        08/15/2042        3,925        4,083,112  

 

  

Series 2019, RB

      4.00%        08/15/2044        5,810        5,694,046  

 

  

Pennsylvania (Commonwealth of) Housing Finance Agency; Series 2019-131 A, RB

      3.10%        10/01/2044        2,500        2,004,572  

 

  

Pennsylvania (Commonwealth of) Public School Building Authority (Harrisburg School);

            

Series 2016 A, Ref. RB(c)(d)

     5.00%        12/01/2026        510        553,278  

 

  

Series 2016 A, Ref. RB (INS - AGM)(i)

     5.00%        12/01/2030        3,235        3,400,496  

 

  

Pennsylvania (Commonwealth of) Turnpike Commission;

            

Second Series 2017, Ref. RB

      5.00%        12/01/2038        2,710        2,887,168  

 

  

Second Series 2017, Ref. RB

      5.00%        12/01/2041        700        732,630  

 

  

Series 2009 C, RB (INS - AGM)(i)

     6.25%        06/01/2033        5,840        6,508,873  

 

  

Series 2009 E, RB

      6.38%        12/01/2038        720        818,732  

 

  

Series 2009 E, RB (INS - AGM)(i)

     6.38%        12/01/2038        1,280        1,468,197  

 

  

Series 2014 A-3, RB(j)

     0.00%        12/01/2041        3,000        1,256,822  

 

  

Series 2014, Ref. RB

      5.00%        12/01/2034        1,500        1,557,311  

 

  

Series 2017 A, RB(e)(f)

     5.50%        12/01/2042        10,000        10,451,630  

 

  

Series 2017 B-1, RB

      5.25%        06/01/2047        5,370        5,552,575  

 

  

Series 2018 A-2, RB

      5.00%        12/01/2043        1,965        2,060,008  

 

  

Series 2019 A, RB

      5.00%        12/01/2044        1,000        1,061,768  

 

  

Series 2019 A, RB (INS - AGM)(i)

     4.00%        12/01/2049        1,305        1,252,822  

 

  

Series 2019 A, RB

      5.00%        12/01/2049        5,000        5,206,379  

 

  

Series 2021 A, RB

      4.00%        12/01/2050        4,500        3,985,580  

 

  

Series 2022 B, Ref. RB

      5.25%        12/01/2052        2,000        2,148,786  

 

  

Pennsylvania Higher Education Assistance Agency; Series 2021 A, RB(b)

     2.63%        06/01/2042        1,060        879,522  

 

  

Pennsylvania State University (The); Series 2016 A, RB

      5.00%        09/01/2041        3,245        3,447,633  

 

  

Philadelphia (City of), PA;

            

Series 2014 A, Ref. GO Bonds(c)(d)

     5.25%        01/15/2024        1,000        1,029,687  

 

  

Series 2017 A, RB(e)(f)

     5.25%        10/01/2052        7,405        7,752,683  

 

  

Series 2017 A, Ref. GO Bonds

      5.00%        08/01/2036        2,550        2,697,144  

 

  

Series 2017 B, Ref. RB(b)

     5.00%        07/01/2047        3,000        3,031,873  

 

  

Series 2017, Ref. GO Bonds

      5.00%        08/01/2041        3,250        3,426,086  

 

  

Series 2019 A, Ref. GO Bonds

      5.00%        08/01/2031        100        111,907  

 

  

Series 2019 B, GO Bonds

      5.00%        02/01/2037        1,000        1,066,210  

 

  

Series 2020 A, RB (INS - AGM)(i)

     5.00%        08/01/2050        2,500        2,647,451  

 

  

Series 2020 A, RB

      5.00%        11/01/2050        4,750        4,998,636  

 

  

Series 2020 C, Ref. RB(b)

     4.00%        07/01/2034        1,300        1,278,790  

 

  

Series 2020 C, Ref. RB(b)

     4.00%        07/01/2050        2,000        1,772,148  

 

  

Series 2021 A, GO Bonds

      5.00%        05/01/2034        1,000        1,109,971  

 

  

Series 2021, Ref. RB (INS - AGM)(b)(i)

     4.00%        07/01/2037        1,000        964,289  

 

  

Sixteenth Series 2020 A, RB (INS - AGM)(i)

     4.00%        08/01/2045        2,000        1,924,497  

 

  

Philadelphia (City of), PA Authority for Industrial Development (Architecture & Design Charter High School); Series 2013, RB(c)(d)

     6.13%        03/15/2023        1,915        1,934,392  

 

  

Philadelphia (City of), PA Authority for Industrial Development (Children’s Hospital of Philadelphia); Series 2014 A, RB(c)(d)(f)

     5.00%        07/01/2024        6,000        6,210,928  

 

  

Philadelphia (City of), PA Authority for Industrial Development (Cultural and Commercials Corridors); Series 2016, Ref. RB

      5.00%        12/01/2031        3,160        3,305,361  

 

  

Philadelphia (City of), PA Authority for Industrial Development (First Philadelphia Preparatory Charter School); Series 2014 A, RB

      7.00%        06/15/2033        3,125        3,266,593  

 

  

Philadelphia (City of), PA Authority for Industrial Development (Independence Charter School - West); Series 2019, RB

      5.00%        06/15/2050        1,025        914,169  

 

  

Philadelphia (City of), PA Authority for Industrial Development (Kipp Philadelphia Charter School); Series 2016 B, RB

      5.00%        04/01/2046        2,360        2,134,006  

 

  

 

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

 

  Invesco Pennsylvania Value Municipal Income Trust

    

Interest

Rate

     

Maturity

Date

     

Principal

Amount

(000)

     

Value

  

 

  

Pennsylvania–(continued)

            

Philadelphia (City of), PA Authority for Industrial Development (MaST Community Charter School II);

            

Series 2020, RB

      5.00%        08/01/2030        $     395      $          407,988  

 

  

Series 2020, RB

      5.00%        08/01/2040        620        625,054  

 

  

Series 2020, RB

      5.00%        08/01/2050        1,400        1,390,623  

 

  

Philadelphia (City of), PA Authority for Industrial Development (MaST I Charter School); Series 2016 A, Ref. RB

      5.25%        08/01/2046        1,500        1,522,937  

 

  

Philadelphia (City of), PA Authority for Industrial Development (St. Joseph’s University); Series 2022, RB

      5.25%        11/01/2052        2,000        2,058,243  

 

  

Philadelphia (City of), PA Authority for Industrial Development (Temple University); First Series 2015, Ref. RB

      5.00%        04/01/2045        1,970        2,009,497  

 

  

Philadelphia (City of), PA Authority for Industrial Development (Thomas Jefferson University); Series 2017 A, Ref. RB

      5.00%        09/01/2047        980        985,573  

 

  

Philadelphia (City of), PA Authority for Industrial Development (University of the Arts); Series 2017, Ref. RB(h)

     5.00%        03/15/2045        1,960        1,771,893  

 

  

Philadelphia (City of), PA Authority for Industrial Development (University Square Apartments); Series 2017, RB

      5.00%        12/01/2058        2,000        2,005,344  

 

  

Philadelphia (City of), PA Authority for Industrial Development (Wesley Enhanced Living Obligated Group);

            

Series 2017, Ref. RB

      5.00%        07/01/2042        1,525        1,306,433  

 

  

Series 2017, Ref. RB

      5.00%        07/01/2049        3,500        2,891,005  

 

  

Philadelphia (City of), PA Authorityfor Industrial Development (New Foundations Charter School); Series 2012, RB(c)(d)

     6.63%        12/15/2022        1,250        1,251,834  

 

  

Philadelphia (City of), PA Hospitals & Higher Education Facilities Authority (Temple University Health System);

            

Series 2017, Ref. RB

      5.00%        07/01/2032        1,980        2,045,431  

 

  

Series 2017, Ref. RB

      5.00%        07/01/2034        1,000        1,024,241  

 

  

Philadelphia (City of), PA Parking Authority; Series 1999 A, RB (INS - AMBAC)(i)

     5.25%        02/15/2029        1,645        1,648,805  

 

  

Philadelphia School District (The);

            

Series 2007 A, Ref. GO Bonds (INS - NATL)(i)

     5.00%        06/01/2025        1,965        2,054,007  

 

  

Series 2019 A, GO Bonds

      5.00%        09/01/2027        1,500        1,614,552  

 

  

Series 2019 A, GO Bonds

      5.00%        09/01/2044        1,000        1,058,568  

 

  

Pittsburgh (City of), PA Water & Sewer Authority;

            

Series 2013 A, Ref. RB

      5.00%        09/01/2031        1,250        1,267,599  

 

  

Series 2019 A, RB (INS - AGM)(i)

     5.00%        09/01/2044        2,255        2,392,548  

 

  

Series 2019 B, Ref. RB (INS - AGM)(i)

     4.00%        09/01/2034        1,600        1,660,199  

 

  

Series 2020 B, RB (INS - AGM)(i)

     4.00%        09/01/2045        1,350        1,288,970  

 

  

Series 2020 B, RB (INS - AGM)(i)

     4.00%        09/01/2050        3,540        3,307,630  

 

  

Southcentral Pennsylvania General Authority (WellSpan Health Obligated Group); Series 2019 A, Ref. RB

      5.00%        06/01/2049        2,750        2,853,317  

 

  

Southeastern Pennsylvania Transportation Authority; Series 2022, RB

      5.25%        06/01/2052        2,000        2,180,168  

 

  

Susquehanna Area Regional Airport Authority; Series 2012 A, RB(b)

     5.00%        01/01/2027        4,415        4,423,389  

 

  

Swarthmore (Borough of), PA Authority (Swarthmore College); Series 2021 B, Ref. RB

      4.00%        09/15/2041        1,690        1,699,564  

 

  

Tender Option Bond Trust Receipts/Certificates; Series 2022, VRD RB(h)(k)

     1.90%        06/01/2053        3,330        3,330,000  

 

  

Washington (County of), PA Redevelopment Authority; Series 2018, Ref. RB

      5.00%        07/01/2035        1,000        970,877  

 

  

Washington (County of), PA Redevelopment Authority (Victory Centre); Series 2018, Ref. RB

      5.00%        07/01/2028        750        746,724  

 

  

West Cornwall Township Municipal Authority (Pleasant View Retirement Community); Series 2018 C, Ref. RB

      5.00%        12/15/2048        3,670        3,342,029  

 

  

West Shore Area Authority (Messiah Village); Series 2015 A, Ref. RB

      5.00%        07/01/2035        1,500        1,484,761  

 

  

Westmoreland (County of), PA Municipal Authority;

            

Series 2013, RB(c)(d)

     5.00%        08/15/2023        2,000        2,036,168  

 

  

Series 2013, RB(c)(d)

     5.00%        08/15/2023        2,250        2,290,689  

 

  
              431,310,590  

 

  

Puerto Rico–7.20%

            

Children’s Trust Fund;

            

Series 2002, RB

      5.63%        05/15/2043        1,265        1,265,340  

 

  

Series 2005 A, RB(j)

     0.00%        05/15/2050        17,475        3,028,470  

 

  

Series 2005 B, RB(j)

     0.00%        05/15/2055        7,700        763,321  

 

  

Series 2008 A, RB(j)

     0.00%        05/15/2057        7,170        475,423  

 

  

Series 2008 B, RB(j)

     0.00%        05/15/2057        28,400        1,478,314  

 

  

Puerto Rico (Commonwealth of); Series 2021 A, GO Bonds(j)

     0.00%        07/01/2033        12,000        6,587,053  

 

  

 

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

 

  Invesco Pennsylvania Value Municipal Income Trust

    

Interest

Rate

     

Maturity

Date

     

Principal

Amount

(000)

     

Value

  

 

  

Puerto Rico–(continued)

            

Puerto Rico (Commonwealth of) Aqueduct & Sewer Authority; Series 2022 A, Ref. RB(h)

     5.00%        07/01/2033      $     1,000      $ 1,004,323  

 

  

Puerto Rico (Commonwealth of) Electric Power Authority; Series 2007 VV, Ref. RB (Acquired 07/19/2018-04/24/2020; Cost $2,705,664) (INS - NATL)(i)(l)

     5.25%        07/01/2030        2,660        2,669,431  

 

  

Puerto Rico (Commonwealth of) Highway & Transportation Authority;

            

Series 2007 N, Ref. RB (INS - AGC)(i)

     5.25%        07/01/2034        450        446,686  

 

  

Series 2007, Ref. RB (INS - AGM)(i)

     5.25%        07/01/2036        2,200        2,181,782  

 

  
              19,900,143  

 

  

Guam–1.97%

            

Guam (Territory of) (Section 30); Series 2016 A, Ref. RB

      5.00%        12/01/2046        1,250        1,241,716  

 

  

Guam (Territory of) International Airport Authority;

            

Series 2013 C, RB(b)(c)(d)

     6.00%        10/01/2023        1,110        1,136,220  

 

  

Series 2013 C, RB(b)(c)(d)

     6.25%        10/01/2023        595        610,264  

 

  

Series 2013 C, RB(b)(c)

     6.00%        10/01/2034        440        450,394  

 

  

Series 2013 C, RB(b)(c)

     6.25%        10/01/2034        905        928,217  

 

  

Guam (Territory of) Waterworks Authority; Series 2014 A, Ref. RB

      5.00%        07/01/2029        1,055        1,069,578  

 

  
              5,436,389  

 

  

Virgin Islands–1.13%

            

Virgin Islands (Government of) Port Authority; Series 2014 B, Ref. RB

      5.00%        09/01/2044        970        856,903  

 

  

Virgin Islands (Government of) Public Finance Authority (Garvee); Series 2015, RB(h)

     5.00%        09/01/2030        2,230        2,269,961  

 

  
              3,126,864  

 

  

TOTAL INVESTMENTS IN SECURITIES(m) –166.48% (Cost $481,170,191)

               459,773,986  

 

  

FLOATING RATE NOTE OBLIGATIONS–(13.90)%

            

Notes with interest and fee rates ranging from 2.45% to 2.46% at 11/30/2022 and contractual maturities of collateral ranging from 06/01/2031 to 10/01/2052(n)

              (38,375,000 ) 

 

  

VARIABLE RATE MUNI TERM PREFERRED SHARES–(49.81)%

               (137,565,232 ) 

 

  

OTHER ASSETS LESS LIABILITIES–(2.77)%

               (7,667,309 ) 

 

  

NET ASSETS APPLICABLE TO COMMON SHARES–100.00%

             $   276,166,445  

 

  

Investment Abbreviations:

 

AGC   – Assured Guaranty Corp.
AGM   – Assured Guaranty Municipal Corp.
AMBAC   – American Municipal Bond Assurance Corp.
BAM   – Build America Mutual Assurance Co.
COP   – Certificates of Participation
GO   – General Obligation
INS   – Insurer
LIBOR   – London Interbank Offered Rate
NATL   – National Public Finance Guarantee Corp.
RB   – Revenue Bonds
Ref.   – Refunding
USD   – U.S. Dollar
VRD   – Variable Rate Demand

 

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

 

  Invesco Pennsylvania Value Municipal Income Trust

Notes to Schedule of Investments:

 

(a) 

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

(b)

Security subject to the alternative minimum tax.

(c) 

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

(d)

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

(e) 

Security is subject to a reimbursement agreement which may require the Trust to pay amounts to a counterparty in the event of a significant decline in the market value of the security underlying the TOB Trusts. In case of a shortfall, the maximum potential amount of payments the Trust could ultimately be required to make under the agreement is $23,895,000. However, such shortfall payment would be reduced by the proceeds from the sale of the security underlying the TOB Trusts.

(f) 

Underlying security related to TOB Trusts entered into by the Trust.

(g) 

Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on November 30, 2022.

(h) 

Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at November 30, 2022 was $10,804,171, which represented 3.91% of the Trust’s Net Assets.

(i) 

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

(j)

Zero coupon bond issued at a discount.

(k) 

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

(l) 

Restricted security. The aggregate value of these securities at November 30, 2022 was $2,669,431, which represented less than 1% of the Trust’s Net Assets.

(m) 

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

 

Entity    Percent  

 

  

Assured Guaranty Municipal Corp.

      7.57%  

 

  

 

(n) 

Floating rate note obligations related to securities held. The interest and fee rates shown reflect the rates in effect at November 30, 2022. At November 30, 2022, the Trust’s investments with a value of $60,244,780 are held by TOB Trusts and serve as collateral for the $38,375,000 in the floating rate note obligations outstanding at that date.

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

 

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

 

  Invesco Pennsylvania Value Municipal Income Trust

Notes to Quarterly Schedule of Portfolio Holdings

November 30, 2022

(Unaudited)

NOTE 1–Additional Valuation Information

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

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

    As of November 30, 2022, all of the securities in this Trust were valued based on Level 2 inputs (see the Schedule of Investments for security categories). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

 

  Invesco Pennsylvania Value Municipal Income Trust