N-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number

  811-06591

 

Invesco Quality Municipal Income Trust
(Exact name of registrant as specified in charter)
1555 Peachtree Street, N.E., Suite 1800    Atlanta, Georgia 30309
(Address of principal executive offices) (Zip code)
Sheri Morris    1555 Peachtree Street, N.E., Suite 1800    Atlanta, Georgia 30309
(Name and address of agent for service)

Registrant’s telephone number, including area code:      (713) 626-1919        

Date of fiscal year end:      2/28                            

Date of reporting period:      11/30/18                    


Item 1. Schedule of Investments.


 

 

 

 

Invesco Quality Municipal Income Trust

Quarterly Schedule of Portfolio Holdings

November 30, 2018

 

 

 

 

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      invesco.com/us            

           MS-CE-QMINC-QTR-1       11/18    Invesco Advisers, Inc.


Schedule of Investments

November 30, 2018

(Unaudited)

 

      Interest
Rate
    Maturity
Date
     Principal
Amount
(000)
     Value  

Municipal Obligations-163.12%(a)

          

Alabama-2.48%

          

Alabama (State of) Special Care Facilities Financing Authority (Ascension Health Senior Credit Group); Series 2016 B, Ref. RB

     5.00     11/15/2046      $     4,390      $ 4,787,295  

Alabaster (City of) Board of Education;
Series 2014 A, Limited Special Tax GO Wts. (INS-AGM)(b)

     5.00     09/01/2039        1,130        1,248,334  

Series 2014 A, Limited Special Tax GO Wts. (INS-AGM)(b)

     5.00     09/01/2044        1,130        1,245,203  

Birmingham (City of) Airport Authority; Series 2010, RB (INS-AGM)(b)

     5.25     07/01/2030        2,100        2,185,092  

Birmingham (City of) Special Care Facilities Financing Authority (Methodist Home for the Aging);
Series 2016, RB

     5.25     06/01/2025        700        750,001  

Series 2016, RB

     5.75     06/01/2045        505        539,143  

Birmingham (City of) Water Works Board; Series 2011, Water RB (c)(d)(e)

     5.00     01/01/2021        3,060        3,248,190  

Lower Alabama Gas District (The); Series 2016 A, Gas Project RB (e)

     5.00     09/01/2046        2,400        2,747,184  
                                     16,750,442  

Alaska-0.64%

          

Alaska (State of) Industrial Development & Export Authority (Providence Health Services); Series 2011 A, RB (e)

     5.50     10/01/2041        4,065        4,355,485  

Arizona-4.29%

          

Arizona (State of) Health Facilities Authority (Phoenix Children’s Hospital); Series 2012, Ref. Hospital System RB

     5.00     02/01/2042        2,050        2,153,812  

Arizona (State of) Health Facilities Authority (Scottsdale Lincoln Hospital); Series 2014, Ref. RB

     5.00     12/01/2042        1,965        2,109,840  

Arizona (State of) Industrial Development Authority (Leman Academy of Excellence); Series 2017 A, Ref. Education RB (f)

     5.00     07/01/2037        675        659,016  

Arizona (State of) Transportation Board; Series 2011 A, Ref. Sub. Highway RB (c)(d)(e)

     5.00     07/01/2021        3,450        3,704,852  

Glendale (City of) Industrial Development Authority (The Beatitudes Campus);
Series 2017, Ref. RB

     5.00     11/15/2031        1,220        1,227,845  

Series 2017, Ref. RB

     5.00     11/15/2045        835        798,101  

La Paz (County of) Industrial Development Authority (Charter School Solutions- Harmony Public Schools); Series 2018 A, Education Facility Lease RB

     5.00     02/15/2048        700        729,288  

Mesa (City of); Series 2013, Excise Tax RB (e)

     5.00     07/01/2032        7,600        8,229,584  

Phoenix (City of) Industrial Development Authority (Legacy Traditional Schools); Series 2014 A, Education Facility RB (f)

     6.50     07/01/2034        450        488,385  

Phoenix (City of) Industrial Development Authority (Rowan University); Series 2012, Lease RB

     5.00     06/01/2042        2,780        2,940,851  

Pima (County of) Industrial Development Authority (Edkey Charter Schools); Series 2013, Ref. Education Facility RB

     6.00     07/01/2033        1,000        959,390  

Pima (County of) Industrial Development Authority (Grande Innovations Academy); Series 2018, Education Facility RB (f)

     5.25     07/01/2048        1,125        1,037,182  

Pima (County of) Industrial Development Authority (Tucson Electric Power Co.); Series 2010 A, IDR

     5.25     10/01/2040        2,525        2,639,736  

Yuma (City of) Industrial Development Authority (Regional Medical Center);
Series 2014 A, Hospital RB

     5.00     08/01/2020        500        522,745  

Series 2014 A, Hospital RB

     5.00     08/01/2021        800        851,656  
                                 29,052,283  

California-22.41%

          

Alhambra Unified School District (Election of 2004);
Series 2009 B, Unlimited Tax CAB GO Bonds (INS-AGC)(b)(g)

     0.00     08/01/2035        3,570        1,925,729  

Series 2009 B, Unlimited Tax CAB GO Bonds (INS-AGC)(b)(g)

     0.00     08/01/2036        5,770        2,952,798  

Bay Area Toll Authority (San Francisco Bay Area); Series 2017 F-1, Toll Bridge RB (e)

     5.00     04/01/2056        2,280        2,516,824  

Beverly Hills Unified School District (Election of 2008);
Series 2009, Unlimited Tax CAB GO Bonds (g)

     0.00     08/01/2026        1,390        1,135,338  

Series 2009, Unlimited Tax CAB GO Bonds (g)

     0.00     08/01/2031        2,680        1,779,761  

 

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

                                 Invesco Quality Municipal Income Trust


      Interest
Rate
    Maturity
Date
     Principal
Amount
(000)
     Value  

California-(continued)

          

California (County of) Tobacco Securitization Agency (Alameda County Tobacco Asset Securitization Corp.); Series 2006 C, Tobacco Settlement Sub. CAB RB (g)

     0.00     06/01/2055      $     10,115      $ 435,147  

California (State of);
Series 2012, Ref. Unlimited Tax GO Bonds

     5.00     02/01/2032        2,600            2,811,588  

Series 2012, Various Purpose Unlimited Tax GO Bonds

     5.25     04/01/2035        4,305        4,697,099  

Series 2012, Various Purpose Unlimited Tax GO Bonds

     5.00     09/01/2036        2,460        2,679,137  

California (State of) Health Facilities Financing Authority (City of Hope); Series 2012 A, RB

     5.00     11/15/2032        3,500        3,815,280  

California (State of) Municipal Finance Authority (Linxs APM); Series 2018 A, Sr. Lien RB (h)

     5.00     12/31/2043        885        951,322  

California (State of) Pollution Control Finance Authority;
Series 2012, Water Furnishing RB (f)(h)

     5.00     07/01/2027        1,230        1,297,810  

Series 2012, Water Furnishing RB (f)(h)

     5.00     07/01/2030        1,450        1,515,018  

Series 2012, Water Furnishing RB (f)(h)

     5.00     07/01/2037        3,195        3,301,425  

California (State of) Public Works Board (Various Capital); Series 2013 I, Lease RB

     5.00     11/01/2020        1,000        1,058,200  

California (State of) Statewide Communities Development Authority (Loma Linda University Medical Center);
Series 2014, RB

     5.25     12/01/2044        780        817,027  

Series 2016 A, RB (f)

     5.00     12/01/2041        1,245        1,279,897  

Series 2016 A, RB (f)

     5.25     12/01/2056        950        985,815  

California Infrastructure & Economic Development Bank;
Series 2003 A, First Lien Bay Area Toll Bridges RB (c)(d)(e)

     5.00     07/01/2028        3,300        3,995,871  

Series 2003 A, First Lien Bay Area Toll Bridges RB (c)(d)(e)

     5.00     07/01/2028        1,700        2,058,479  

Clovis Unified School District (Election of 2004); Series 2004 A, Unlimited Tax CAB GO Bonds (INS-NATL)(b)(g)

     0.00     08/01/2029        695        492,380  

Dry Creek Joint Elementary School District (Election of 2008-Measure E);
Series 2009, Unlimited Tax CAB GO Bonds (g)

     0.00     08/01/2040        4,685        1,892,272  

Series 2009, Unlimited Tax CAB GO Bonds (g)

     0.00     08/01/2041        4,965        1,914,603  

Series 2009, Unlimited Tax CAB GO Bonds (g)

     0.00     08/01/2042        5,265        1,937,678  

Series 2009, Unlimited Tax CAB GO Bonds (g)

     0.00     08/01/2043        3,460        1,214,841  

Series 2009, Unlimited Tax CAB GO Bonds (g)

     0.00     08/01/2044        4,825        1,611,502  

East Bay Municipal Utility District; Series 2010 A, Ref. Sub. Water System RB (c)(d)(e)

     5.00     06/01/2020        4,770        5,003,778  

El Segundo Unified School District (Election of 2008);
Series 2009 A, Unlimited Tax CAB GO Bonds (g)

     0.00     08/01/2031        1,775        1,149,774  

Series 2009 A, Unlimited Tax CAB GO Bonds (g)

     0.00     08/01/2032        1,980        1,224,432  

Foothill-Eastern Transportation Corridor Agency; Subseries 2014 B-2, Ref. Toll Road RB (d)

     5.00     01/15/2020        5,000        5,082,000  

Golden State Tobacco Securitization Corp.;
Series 2013 A, Enhanced Tobacco Settlement Asset-Backed RB

     5.00     06/01/2030        3,250        3,565,640  

Series 2018 A-1, Ref. Tobacco Settlement Asset-Backed RB

     5.00     06/01/2047        2,495        2,399,766  

Series 2018 A-2, Ref. Tobacco Settlement Asset-Backed RB

     5.00     06/01/2047        3,455        3,316,835  

Los Angeles (City of) Department of Airports (Los Angeles International Airport); Series 2010 A, Sr. RB (e)

     5.00     05/15/2035        6,000        6,253,440  

Los Angeles (City of) Department of Water & Power; Series 2012 A, Waterworks RB (e)

     5.00     07/01/2043        6,510        7,049,288  

Menifee Union School District (Election of 2008); Series 2009 C, Unlimited Tax CAB GO Bonds (INS-AGC)(b)(g)

     0.00     08/01/2034        1,985        1,099,273  

Moreland School District (Crossover Series 14); Series 2006 C, Ref. Unlimited Tax CAB GO Bonds (INS-AMBAC)(b)(g)

     0.00     08/01/2029        3,955        2,755,369  

Mt. San Antonio (City of) Community College District (Election 2008); Series 2013 A, Unlimited Tax Conv. CAB GO Bonds (i)

     6.25     08/01/2043        1,900        1,555,397  

Oak Grove School District (Election of 2008); Series 2009 A, Unlimited Tax CAB GO Bonds (g)

     0.00     08/01/2028        2,875        2,152,340  

Patterson Joint Unified School District (Election of 2008);
Series 2009 B, Unlimited Tax CAB GO Bonds (INS-AGM)(b)(g)

     0.00     08/01/2036        4,025        2,027,916  

Series 2009 B, Unlimited Tax CAB GO Bonds (INS-AGM)(b)(g)

     0.00     08/01/2037        1,590        764,965  

Poway Unified School District (Election of 2008 - School Facilities Improvement District No. 2007-1);
Series 2009 A, Unlimited Tax CAB GO Bonds (g)

     0.00     08/01/2027        4,005        3,123,980  

Series 2009 A, Unlimited Tax CAB GO Bonds (g)

     0.00     08/01/2031        5,000        3,263,100  

 

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

                                 Invesco Quality Municipal Income Trust


      Interest
Rate
    Maturity
Date
     Principal
Amount
(000)
     Value  

California-(continued)

          

Regents of the University of California;
Series 2009 O, General RB (c)(d)

     5.25     05/15/2019      $ 145      $ 147,379  

Series 2009 O, General RB (c)(d)

     5.25     05/15/2019        275        279,513  

Series 2009 O, General RB (c)(d)

     5.25     05/15/2019        80        81,313  

Series 2013 AI, General RB (e)

     5.00     05/15/2033        4,000        4,427,120  

San Buenaventura (City of) (Community Memorial Health System); Series 2011, RB

     7.50     12/01/2041        2,085        2,273,838  

San Diego (City of) Community College District (Election of 2006); Series 2011, Unlimited Tax GO Bonds (c)(d)(e)

     5.00     08/01/2021        6,790        7,360,564  

San Diego (County of) Regional Airport Authority; Series 2010 A, Sub. RB

     5.00     07/01/2034        875        913,876  

San Francisco (City & County of) Airport Commission (San Francisco International Airport);
Series 2011 F, Ref. Second Series RB (h)

     5.00     05/01/2025        1,000        1,064,010  

Series 2011 F, Ref. Second Series RB (h)

     5.00     05/01/2026        1,995        2,120,765  

Series 2011 G, Ref. Second Series RB (c)(d)

     5.25     05/03/2021        3,615        3,905,574  

Series 2011 G, Ref. Second Series RB

     5.25     05/01/2027        1,385        1,495,952  

San Francisco (City & County of) Public Utilities Commission; Series 2009 A, Water RB (c)(d)

     5.00     11/01/2019        2,500        2,576,775  

San Francisco (City & County of) Public Utilities Commission (Water System Improvement Program); Subseries 2011 A, Water RB (e)

     5.00     11/01/2036        4,320        4,665,902  

San Jose Evergreen Community College District (Election of 2004); Series 2008 B, Unlimited Tax CAB GO Bonds (INS-AGM)(b)(g)

     0.00     09/01/2030        3,300        2,273,139  

Santa Margarita Water District (Community Facilities District No. 2013-1); Series 2013, Special Tax RB

     5.50     09/01/2032        615        657,896  

Silicon Valley Tobacco Securitization Authority (Santa Clara); Series 2007 A, Tobacco Settlement CAB Turbo RB (g)

     0.00     06/01/2041        3,295        829,088  

William S. Hart Union High School District (Election of 2008);
Series 2009 A, Unlimited Tax CAB GO Bonds (g)

     0.00     08/01/2032            17,570        10,450,812  

Series 2009 A, Unlimited Tax CAB GO Bonds (g)

     0.00     08/01/2033        5,725        3,250,025  
                                     151,633,675  

Colorado-3.56%

          

Colorado (State of) Health Facilities Authority (Catholic Health Initiatives); Series 2009 A, RB

     5.00     07/01/2039        4,000        4,039,760  

Colorado (State of) Health Facilities Authority (SCL Health System); Series 2013 A, RB (e)

     5.50     01/01/2035        3,900        4,366,089  

Colorado (State of) Health Facilities Authority (The Evangelical Lutheran Good Samaritan Society); Series 2017, Ref. Hospital RB

     5.00     06/01/2047        555        586,030  

Colorado (State of) Regional Transportation District (Denver Transit Partners Eagle P3); Series 2010, Private Activity RB

     6.00     01/15/2041        3,200        3,301,952  

Denver (City & County of);
Series 2013 B, Sub. Airport System RB

     5.25     11/15/2032        5,000        5,582,350  

Series 2018 A, Ref. Sub. Airport System RB (e)(h)

     5.25     12/01/2048        4,160        4,661,030  

Neu Towne Metropolitan District; Series 2018 A, Ref. & Improvement Limited Tax GO Bonds

     5.38     12/01/2046        665        655,996  

Prairie Center Metropolitan District No. 3; Series 2017 A, Ref. Limited Property Tax Supported RB (f)

     5.00     12/15/2041        910        912,375  
                                 24,105,582  

Connecticut-0.66%

          

Connecticut (State of) Health & Educational Facilities Authority (Hartford Healthcare); Series 2011 A, RB

     5.00     07/01/2041        4,300        4,496,553  

District of Columbia-3.28%

          

District of Columbia;
Series 2006 B-1, Ballpark RB (INS-NATL)(b)

     5.00     02/01/2031        9,805        9,821,276  

Series 2009 A, Sec. Income Tax RB (e)

     5.25     12/01/2027        3,040        3,136,520  

District of Columbia (Provident Group - Howard Properties LLC); Series 2013, Student Dormitory RB

     5.00     10/01/2045        1,910        1,838,891  

Metropolitan Washington Airports Authority; Series 2009 B, Airport System RB (INS-BHAC)(b)

     5.00     10/01/2029        1,000        1,023,940  

 

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

                                 Invesco Quality Municipal Income Trust


      Interest
Rate
    Maturity
Date
     Principal
Amount
(000)
     Value  

District of Columbia-(continued)

          

Metropolitan Washington Airports Authority (Dulles Metrorail and Capital Improvement); Series 2014 A, Ref. Sr. Lien Dulles Toll Road RB

     5.00     10/01/2053      $ 6,170      $ 6,359,974  
                                     22,180,601  

Florida-10.76%

          

Alachua (County of) Health Facilities Authority (Terraces at Bonita Springs); Series 2011 A, RB

     8.13     11/15/2041        1,000        1,092,910  

Broward (County of);
Series 2012 A, Water & Sewer Utility RB

     5.00     10/01/2037        2,145        2,336,420  

Series 2013 C, Airport System RB

     5.25     10/01/2038        2,500        2,753,375  

Series 2015 A, Airport System RB (h)

     5.00     10/01/2045        2,010        2,168,730  

Capital Trust Agency Inc. (Sarasota-Manatee Jewish Housing Council, Inc.); Series 2017, Ref. Retirement Facility RB (f)

     5.00     07/01/2046        1,250        1,231,550  

Citizens Property Insurance Corp.; Series 2012 A-1, Sr. Sec. RB

     5.00     06/01/2021        5,110        5,460,137  

County of Broward FL Airport System Revenue; Series 2017, Airport System RB (e)(h)

     5.00     10/01/2047        3,450        3,760,466  

Davie (Town of) (Nova Southeastern University); Series 2013 A, Educational Facilities RB

     6.00     04/01/2042        1,250        1,393,375  

Florida (State of) North Broward Hospital District; Series 2017 B, Ref. RB

     5.00     01/01/2048        2,850        2,995,692  

Florida (State of) Ports Financing Commission (State Transportation Trust Fund); Series 2011 B, Ref. RB (h)

     5.13     06/01/2027        995        1,062,680  

Hillsborough (County of) Aviation Authority (Tampa International Airport); Series 2018 E, RB (h)

     5.00     10/01/2048        1,960        2,160,136  

Martin (County of) Health Facilities Authority (Martin Memorial Medical Center); Series 2012, RB

     5.00     11/15/2027        4,630        4,879,187  

Miami Beach (City of) Health Facilities Authority (Mount Sinai Medical Center); Series 2014, Ref. RB

     5.00     11/15/2039        845        885,746  

Miami-Dade (County of);
Series 2012 A, Ref. Aviation RB (h)

     5.00     10/01/2028        1,000        1,078,630  

Series 2012 B, Ref. Sub. Special Obligation RB (INS-AGM)(b)

     5.00     10/01/2035        1,750        1,892,222  

Series 2016 A, Ref. Aviation RB

     5.00     10/01/2041        1,170        1,288,345  

Miami-Dade (County of) (Miami International Airport-Hub of the Americas); Series 2009 B, Aviation RB (c)(d)

     5.00     10/01/2019        2,850        2,922,618  

Miami-Dade (County of) Educational Facilities Authority (University of Miami); Series 2018 A, RB (e)

     5.00     04/01/2053        3,650        3,976,310  

Miami-Dade (County of) Expressway Authority; Series 2010 A, Ref. Toll System RB

     5.00     07/01/2040            2,500        2,597,225  

Miami-Dade (County of) Health Facilities Authority (Miami Children’s Hospital);
Series 2010, Ref. Hospital RB (c)(d)

     6.00     08/01/2020        880        935,317  

Series 2010, Ref. Hospital RB

     6.00     08/01/2030        315        333,131  

Miami-Dade (County of) Industrial Development Authority (Waste Management, Inc.); Series 2018 B, Solid Waste Disposal Floating Rate RB (SIFMA Municipal Swap Index + 0.80%)(c)(h)(j)

     2.49     11/01/2021        555        555,128  

Orange (County of); Series 2012 B, Ref. Sales Tax RB (e)

     5.00     01/01/2031        7,855        8,459,992  

Orlando (City of) Greater Orlando Aviation Authority; Series 2017 A, Priority Sub. Airport Facilities RB (h)

     5.00     10/01/2047        935        1,018,411  

Palm Beach (County of) Health Facilities Authority (BRRH Corp. Obligated Group); Series 2014, Ref. RB

     5.00     12/01/2031        1,125        1,213,144  

Palm Beach (County of) Health Facilities Authority (Jupiter Medical Center, Inc.); Series 2013 A, Hospital RB

     5.00     11/01/2043        2,030        2,097,883  

Palm Beach (County of) Solid Waste Authority;
Series 2009, Improvement RB (c)(d)

     5.50     10/01/2019        615        633,432  

Series 2009, Improvement RB (c)(d)

     5.50     10/01/2019        2,085        2,147,487  

Series 2016, RB (e)

     5.00     10/01/2031        3,330        3,575,621  

Putnam (County of) Development Authority (Seminole Electric Cooperative); Series 2018 B, Ref. PCR

     5.00     03/15/2042        790        863,138  

Sumter (County of) Industrial Development Authority (Central Florida Health Alliance);
Series 2014 A, Hospital RB

     5.00     07/01/2025        500        554,580  

Series 2014 A, Hospital RB

     5.00     07/01/2027        500        549,520  

Tallahassee (City of) (Tallahassee Memorial Health Care, Inc.); Series 2016, Health Facility RB

     5.00     12/01/2055        1,270        1,332,408  

Tampa Bay Water; Series 2001 A, Ref. & Improvement Utility System RB (INS-NATL)(b)

     6.00     10/01/2029        2,000        2,582,040  
                                 72,786,986  

 

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

                                 Invesco Quality Municipal Income Trust


      Interest
Rate
    Maturity
Date
     Principal
Amount
(000)
     Value  

Georgia-0.47%

          

Burke (County of) Development Authority (Oglethorpe Power Vogtle); Series 2013 A, PCR (d)

     2.40     04/01/2020      $     3,200      $ 3,173,536  

Hawaii-2.06%

          

Hawaii (State of);
Series 2010 A, Airport System RB

     5.00     07/01/2039        4,100        4,270,437  

Series 2015 A, Airport System RB (h)

     5.00     07/01/2041        780        857,088  

Series 2015 A, Airport System RB (h)

     5.00     07/01/2045        1,545        1,693,876  

Hawaii (State of) Department of Budget & Finance (Hawaii Pacific Health Obligated Group);
Series 2010 B, Special Purpose RB (c)(d)

     5.75     07/01/2020        1,630        1,725,062  

Series 2013 A, Ref. Special Purpose RB

     5.50     07/01/2043        2,000        2,196,100  

Hawaii (State of) Department of Transportation (Airports Division); Series 2013, Lease Revenue COP (h)

     5.00     08/01/2020        3,055        3,191,436  
                                     13,933,999  

Idaho-0.46%

          

Idaho (State of) Health Facilities Authority (Valley Vista Care Corp.);
Series 2017 A, Ref. RB

     5.00     11/15/2032        700        710,577  

Series 2017 A, Ref. RB

     5.25     11/15/2037        980        998,179  

Regents of the University of Idaho; Series 2011, Ref. General RB (d)

     5.25     04/01/2021        1,330        1,413,724  
                                 3,122,480  

Illinois-19.24%

          

Chicago (City of);
Series 2002 B, Unlimited Tax GO Bonds

     5.50     01/01/2037        615        646,014  

Series 2005 D, Ref. Unlimited Tax GO Bonds

     5.50     01/01/2040        385        402,752  

Series 2007 A, Ref. Project Unlimited Tax GO Bonds (INS-AGM)(b)

     5.00     01/01/2037        4,175        4,203,515  

Series 2007 E, Ref. Unlimited Tax GO Bonds

     5.50     01/01/2042        310        323,962  

Series 2012, Second Lien Wastewater Transmission RB

     5.00     01/01/2042        2,030        2,115,179  

Series 2014, Ref. Motor Fuel Tax RB

     5.00     01/01/2029        1,000        1,038,970  

Series 2014, Second Lien Waterworks RB

     5.00     11/01/2044        790        840,568  

Series 2015 A, Unlimited Tax GO Bonds

     5.50     01/01/2033        3,085        3,264,084  

Series 2017 A, Ref. Unlimited Tax GO Bonds

     6.00     01/01/2038        1,850        2,054,573  

Chicago (City of) (Midway Airport);
Series 2013 B, Ref. Second Lien RB

     5.00     01/01/2021        3,200        3,372,288  

Series 2014 A, Ref. Second Lien RB (h)

     5.00     01/01/2041        1,125        1,201,309  

Chicago (City of) (O’Hare International Airport);
Series 2015 C, RB (h)

     5.00     01/01/2046        775        819,718  

Series 2015 D, RB

     5.00     01/01/2046        540        580,214  

Series 2017 D, Sr. Lien General Airport RB (e)(h)

     5.00     01/01/2042        2,500        2,673,575  

Series 2017 D, Sr. Lien General Airport RB

     5.25     01/01/2042        1,240        1,372,568  

Chicago (City of) Board of Education;
Series 2008 C, Ref. Unlimited Tax GO Bonds (INS-AGM)(b)

     5.00     12/01/2032        1,000        1,002,190  

Series 2017 H, Dedicated Unlimited Tax GO Bonds

     5.00     12/01/2046        1,825        1,795,271  

Series 2018 A, Unlimited Tax GO Bonds (INS-AGM)(b)

     5.00     12/01/2031        625        685,781  

Series C, Ref. Unlimited Tax GO Bonds

     5.00     12/01/2022        950        983,801  

Chicago (City of) Metropolitan Water Reclamation District (Green Bonds); Series 2016 E, Unlimited Tax GO Bonds

     5.00     12/01/2045        1,605        1,732,437  

Chicago (City of) Transit Authority;
Series 2011, Sales Tax Receipts RB (e)(k)

     5.25     12/01/2036        3,970        4,187,477  

Series 2011, Sales Tax Receipts RB (e)(k)

     5.25     12/01/2036        5,000        5,273,900  

Series 2014, Sales Tax Receipts RB

     5.00     12/01/2044        3,380        3,677,136  

Cook (County of) Forest Preserve District;
Series 2012 B, Ref. Limited Tax GO Bonds (e)

     5.00     12/15/2032        2,540        2,658,008  

Series 2012 B, Ref. Limited Tax GO Bonds (e)

     5.00     12/15/2037        2,540        2,635,783  

 

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

                                 Invesco Quality Municipal Income Trust


      Interest
Rate
    Maturity
Date
     Principal
Amount
(000)
     Value  

Illinois-(continued)

          

Illinois (State of);
First Series 2001, Unlimited Tax GO Bonds (INS -NATL)(b)

     6.00     11/01/2026      $ 2,000      $ 2,264,060  

Series 2012 A, Unlimited Tax GO Bonds

     5.00     01/01/2031        1,115        1,138,828  

Series 2013, Unlimited Tax GO Bonds (INS-AGM)(b)

     5.25     07/01/2029        1,960        2,116,702  

Series 2014, Unlimited Tax GO Bonds

     5.00     05/01/2029        1,000        1,030,990  

Series 2014, Unlimited Tax GO Bonds

     5.00     05/01/2036        750        764,190  

Series 2017 D, Unlimited Tax GO Bonds

     5.00     11/01/2024        4,950        5,237,348  

Series 2018 A, Ref. Unlimited Tax GO Bonds

     5.00     10/01/2021        790        820,929  

Series 2018 A, Ref. Unlimited Tax GO Bonds

     5.00     10/01/2022        555        580,685  

Illinois (State of) Finance Authority; Series 2009, RB (c)(d)

     6.13     05/15/2019        105        106,893  

Illinois (State of) Finance Authority (Benedictine University);
Series 2013 A, RB

     5.00     10/01/2020        1,000        1,026,600  

Series 2013 A, RB

     5.38     10/01/2022        1,180        1,213,241  

Illinois (State of) Finance Authority (Centegra Health System); Series 2014 A, RB

     5.00     09/01/2039        1,300        1,415,934  

Illinois (State of) Finance Authority (Northwestern Memorial Hospital); Series 2009 B, RB (c)(d)

     5.38     08/15/2019        1,900        1,945,600  

Illinois (State of) Finance Authority (OSF Healthcare System);
Series 2010, Ref. RB (c)(d)

     6.00     05/15/2020        1,685        1,779,158  

Series 2010, Ref. RB

     6.00     05/15/2039        520        540,514  

Series 2015 A, Ref. RB

     5.00     11/15/2045        2,165        2,322,785  

Illinois (State of) Finance Authority (Peace Village); Series 2013, RB

     6.25     08/15/2028        1,000        1,033,080  

Illinois (State of) Finance Authority (Resurrection Health Care Corp.);
Series 2009, Ref. RB (c)(d)

     6.13     05/15/2019        120        122,245  

Series 2009, Ref. RB (c)(d)

     6.13     05/15/2019        3,280        3,342,123  

Illinois (State of) Finance Authority (Rush University Medical Center); Series 2015 A, Ref. RB

     5.00     11/15/2038        1,870        2,029,642  

Illinois (State of) Finance Authority (Swedish Covenant Hospital);
Series 2010 A, Ref. RB (c)(d)

     5.75     02/15/2020        5,020        5,239,625  

Series 2010 A, Ref. RB (c)(d)

     6.00     02/15/2020        2,620        2,742,328  

Illinois (State of) Finance Authority (The University of Chicago Medical Center); Series 2011 C, RB (c)(d)(e)

     5.50     02/15/2021        1,440        1,544,227  

Illinois (State of) Finance Authority (University of Chicago); Series 2013 A, RB (e)

     5.25     10/01/2052        3,390        3,701,168  

Illinois (State of) Metropolitan Pier & Exposition Authority; Series 2002, Dedicated State Tax CAB RB (INS-AGM)(b)(g)

     0.00     12/15/2029        2,500        1,582,300  

Illinois (State of) Metropolitan Pier & Exposition Authority (McCormick Place Expansion);
Series 2002 A, Dedicated State Tax RB (INS-NATL)(b)

     5.75     06/15/2026        8,480        9,245,490  

Series 2010, Dedicated State Tax RB (c)(d)

     5.50     06/15/2020        560        589,310  

Series 2010, Dedicated State Tax RB

     5.50     06/15/2050        1,740        1,754,668  

Illinois (State of) Sports Facilities Authority; Series 2014, Ref. State Tax Supported RB (INS-AGM)(b)

     5.00     06/15/2027        3,500        3,798,900  

Illinois (State of) Toll Highway Authority; Series 2013 A, RB (e)

     5.00     01/01/2038            10,050        10,798,122  

Railsplitter Tobacco Settlement Authority; Series 2010, RB (c)(d)

     5.50     06/01/2021        4,275        4,624,599  

Sales Tax Securitization Corp.; Series 2018 A, Ref. RB (e)

     5.00     01/01/2048        3,960        4,230,785  
                                     130,224,142  

Indiana-3.53%

          

Indiana (State of) Finance Authority (CWA Authority); Series 2011 B, Second Lien Wastewater Utility RB

     5.25     10/01/2031        3,000        3,228,000  

Indiana (State of) Finance Authority (Ohio River Bridges East End Crossing);
Series 2013 A, Private Activity RB (h)

     5.00     07/01/2035        500        527,545  

Series 2013 A, Private Activity RB (h)

     5.00     07/01/2048        525        548,074  

Series 2013, Private Activity RB (h)

     5.00     07/01/2040        3,480        3,652,260  

Indiana (State of) Finance Authority (Ohio Valley Electric Corp.); Series 2012 A, Midwestern Disaster Relief RB

     5.00     06/01/2039        2,690        2,583,341  

Indiana (State of) Municipal Power Agency; Series 2013 A, Power Supply System RB (c)(d)

     5.25     07/01/2023        1,000        1,135,300  

 

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

                                 Invesco Quality Municipal Income Trust


      Interest
Rate
    Maturity
Date
     Principal
Amount
(000)
     Value  

Indiana-(continued)

          

Indianapolis Local Public Improvement Bond Bank;
Series 2011 K, RB

     5.00     06/01/2027      $ 3,000      $ 3,194,280  

Series 2013 F, RB (e)

     5.00     02/01/2030        4,500        4,900,770  

Valparaiso (City of) (Pratt Paper, LLC); Series 2013, Exempt Facilities RB (h)

     5.88     01/01/2024        1,015        1,107,842  

Whiting (City of) (BP Products North America); Series 2014, Environmental Facilities Floating Rate RB (SIFMA Municipal Swap Index + 0.75%) (d)(h)(j)

     2.41     12/02/2019        3,000        3,004,560  
                                     23,881,972  

Iowa-2.28%

          

Iowa (State of) (IJOBS Program);
Series 2009 A, Special Obligation RB (c)(d)(e)(k)

     5.00     06/01/2019        4,795        4,869,514  

Series 2009 A, Special Obligation RB (c)(d)(e)(k)

     5.00     06/01/2019        3,595        3,650,866  

Iowa (State of) Finance Authority (Iowa Fertilizer Co.);
Series 2013, Midwestern Disaster Area RB (f)

     5.88     12/01/2027        1,000        1,057,300  

Series 2013, Ref. Midwestern Disaster Area RB (d)

     5.25     12/01/2037        1,160        1,232,036  

Iowa (State of) Finance Authority (Lifespace Communities Inc.); Series 2018 A, RB

     5.00     05/15/2043        790        813,005  

Iowa (State of) Tobacco Settlement Authority;
Series 2005 C, Asset-Backed RB

     5.50     06/01/2042        1,620        1,615,756  

Series 2005 C, Asset-Backed RB

     5.63     06/01/2046        1,030        1,024,994  

Series 2005 E, Asset-Backed CAB RB (g)

     0.00     06/01/2046            11,725        1,189,149  
                                 15,452,620  

Kansas-0.64%

          

Kansas (State of) Development Finance Authority (Adventist Health System);
Series 2009, Hospital RB (c)(d)

     5.50     11/15/2019        35        36,117  

Series 2009, Hospital RB

     5.50     11/15/2029        1,620        1,669,588  

Wichita (City of) (Presbyterian Manors, Inc.);
Series 2013 IV-A, Health Care Facilities RB

     6.38     05/15/2043        1,500        1,589,865  

Series 2018 I, Ref. Health Care Facilities RB

     5.00     05/15/2047        1,000        1,008,210  
                                 4,303,780  

Kentucky-2.61%

          

Kentucky (State of) Economic Development Finance Authority (Catholic Health Initiatives); Series 2011 B, Floating Rate RB (SIFMA Municipal Swap Index + 1.40%)(d)(j)

     3.06     02/01/2025        670        679,159  

Kentucky (State of) Economic Development Finance Authority (Next Generation Kentucky Information Highway);
Series 2015 A, Sr. RB

     5.00     07/01/2040        1,220        1,275,083  

Series 2015 A, Sr. RB

     5.00     01/01/2045        1,290        1,330,235  

Kentucky (State of) Economic Development Finance Authority (Owensboro Health Inc.); Series 2017 A, Ref. Hospital RB

     5.00     06/01/2045        935        969,071  

Kentucky (State of) Economic Development Finance Authority (Owensboro Medical Health System, Inc.);
Series 2010 A, Hospital RB (c)(d)

     6.00     06/01/2020        1,900        2,010,846  

Series 2010 A, Hospital RB (c)(d)

     6.38     06/01/2020        1,625        1,728,724  

Series 2010 A, Hospital RB (c)(d)

     6.50     06/01/2020        2,050        2,184,275  

Kentucky (State of) Turnpike Authority (Revitalization); Series 2012 A, Economic Development Road RB (c)(d)

     5.00     07/01/2022        1,860        2,044,810  

Louisville (City of) & Jefferson (County of) Metropolitan Government (Norton Healthcare, Inc.); Series 2013 A, Health System RB

     5.50     10/01/2033        3,000        3,325,350  

Warren (County of) (Bowling Green-Warren County Community Hospital Corp.); Series 2013, Ref. Hospital RB

     5.00     04/01/2035        2,000        2,139,320  
                                 17,686,873  

 

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

                                 Invesco Quality Municipal Income Trust


      Interest
Rate
    Maturity
Date
     Principal
Amount
(000)
     Value  

Louisiana-1.85%

          

Lafayette (City of) Public Trust Financing Authority (Ragin’ Cajun Facilities, Inc. - Housing & Parking); Series 2010, RB (c)(d)

     5.25     10/01/2020      $ 2,450      $ 2,593,276  

Louisiana (State of) Energy & Power Authority (LEPA Unit No. 1);
Series 2013 A, Power Project RB (INS-AGM)(b)

     5.25     06/01/2028        2,000        2,208,660  

Series 2013 A, Power Project RB (INS-AGM)(b)

     5.25     06/01/2031        2,000        2,197,140  

New Orleans (City of); Series 2014, Ref. Water RB

     5.00     12/01/2021        1,000        1,073,680  

Tobacco Settlement Financing Corp.;
Series 2013 A, Ref. Asset-Backed RB

     5.50     05/15/2030        770        797,273  

Series 2013 A, Ref. Asset-Backed RB

     5.25     05/15/2031        770        809,825  

Series 2013 A, Ref. Asset-Backed RB

     5.25     05/15/2032        1,465        1,559,800  

Series 2013 A, Ref. Asset-Backed RB

     5.25     05/15/2033        1,235        1,306,235  
                                 12,545,889  

Maryland-1.12%

          

Howard (County of) (Downtown Columbia);
Series 2017 A, Special Obligation Tax Allocation RB (f)

     4.38     02/15/2039        1,000        983,450  

Series 2017 A, Special Obligation Tax Allocation RB (f)

     4.50     02/15/2047        500        492,115  

Maryland (State of) Health & Higher Educational Facilities Authority (LifeBridge Health); Series 2016, Ref. RB

     5.00     07/01/2047        705        760,780  

Maryland (State of) Health & Higher Educational Facilities Authority (Peninsula Regional Medical Center); Series 2015, Ref. RB

     5.00     07/01/2045        1,435        1,539,325  

Maryland Economic Development Corp. (Terminal); Series 2010 B, RB (c)(d)

     5.75     06/01/2020        2,440        2,577,152  

Prince Georges (County of), Maryland (Collington Episcopal Life Care Community, Inc.);
Series 2017, Ref. RB

     5.00     04/01/2028        670        703,446  

Series 2017, Ref. RB

     5.00     04/01/2032        500        515,065  
                                 7,571,333  

Massachusetts-2.50%

          

Massachusetts (State of) Department of Transportation (Contract Assistance); Series 2010 B, Metropolitan Highway Systems RB

     5.00     01/01/2035        2,010        2,070,079  

Massachusetts (State of) Development Finance Agency (Berklee College of Music); Series 2007, RB

     5.00     10/01/2032        165        165,411  

Massachusetts (State of) Development Finance Agency (Emerson College); Series 2016 A, RB

     5.00     01/01/2047        1,550        1,638,474  

Massachusetts (State of) Development Finance Agency (Partners Healthcare);
Series 2012, RB (c)(d)

     5.00     07/01/2021        2,890        3,095,970  

Series 2012, RB

     5.00     07/01/2031        2,730        2,907,067  

Massachusetts (State of) Development Finance Agency (Tufts Medical Center);
Series 2011 I, RB (c)(d)

     6.75     01/01/2021        735        803,708  

Series 2011 I, RB

     6.75     01/01/2036        490        533,767  

Massachusetts (State of) School Building Authority;; Series 2011 B, Sr. Dedicated Sales Tax RB (e)

     5.00     10/15/2035            5,325        5,690,561  
                                     16,905,037  

Michigan-3.61%

          

Detroit (City of) Downtown Development Authority ; Series 2018 A, Tax Increment RB

     5.00     07/01/2038        1,000        1,050,340  

Grand Rapids Economic Development Corp. (Beacon Hill at Eastgate); Series 2017 A, Ref. RB

     5.00     11/01/2052        1,185        1,199,398  

Lansing (City of) Board of Water & Light; Series 2011 A, Utility System RB

     5.00     07/01/2037        3,400        3,607,400  

Michigan (State of) Building Authority (Facilities Program); Series 2016 I, Ref. RB (e)

     5.00     04/15/2041        2,655        2,930,934  

Michigan (State of) Finance Authority (Beaumont Health Credit Group); Series 2016, RB

     5.00     11/01/2044        1,710        1,838,934  

Michigan (State of) Finance Authority (Detroit Water & Sewerage Department);
Series 2014 C-1, Ref. Sr. Lien Local Government Loan Program RB

     5.00     07/01/2044        1,130        1,200,320  

Series 2014 C-6, Ref. Sr. Lien Local Government Loan Program RB

     5.00     07/01/2033        565        613,856  

Series 2014 D-4, Ref. Local Government Loan Program RB

     5.00     07/01/2029        565        620,347  

Series 2015, Ref. Second Lien Local Government Loan Program RB

     5.00     07/01/2035        1,165        1,263,873  

Michigan (State of) Finance Authority (MidMichigan Health Credit Group); Series 2014, Ref. Hospital RB

     5.00     06/01/2039        2,070        2,243,818  

 

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

                                 Invesco Quality Municipal Income Trust


      Interest
Rate
    Maturity
Date
     Principal
Amount
(000)
     Value  

Michigan-(continued)

          

Michigan (State of) Finance Authority (Trinity Health Credit); Series 2017 MI, Ref. Hospital RB (e)

     5.00     12/01/2046      $ 3,575      $ 3,904,472  

Michigan (State of) Tobacco Settlement Finance Authority; Series 2007 A, Sr. Asset-Backed RB

     6.00     06/01/2048        3,180        3,120,375  

Western Michigan University;
Series 2013, Ref. General RB

     5.25     11/15/2030        400        447,572  

Series 2013, Ref. General RB

     5.25     11/15/2031        350        391,279  
                                     24,432,918  

Minnesota-0.06%

          

Bethel (City of) (Spectrum High School); Series 2017 A, Ref. Charter School Lease RB

     4.25     07/01/2047        425        398,786  

Missouri-1.04%

          

Kansas City (City of) Industrial Development Authority (Downtown Redevelopment District); Series 2011 A, Ref. RB

     5.50     09/01/2028        1,970        2,130,988  

Kirkwood (City of) Industrial Development Authority (Aberdeen Heights); Series 2017 A, Ref. Retirement Community RB

     5.25     05/15/2050        465        479,378  

Missouri (State of) Health & Educational Facilities Authority (St. Louis College of Pharmacy); Series 2013, RB

     5.00     05/01/2020        1,000        1,031,830  

St. Louis (County of) Industrial Development Authority (Friendship Village of Sunset Hills); Series 2013 A, Senior Living Facilities RB

     5.50     09/01/2033        1,375        1,429,450  

St. Louis (County of) Industrial Development Authority (Friendship Village West County); Series 2018 A, Senior Living Facilities RB

     5.00     09/01/2038            1,975        1,977,864  
                                 7,049,510  

Nebraska-2.02%

          

Central Plains Energy Project (No. 3); Series 2012, Gas RB (l)

     5.00     09/01/2032        5,500        5,918,660  

Lincoln (County of) Hospital Authority No. 1 (Great Plains Regional Medical Center); Series 2012, Ref. RB

     5.00     11/01/2032        2,500        2,641,450  

Omaha (City of) Public Power District;; Series 2011 B, RB (c)(d)(e)

     5.00     02/01/2021        4,800        5,106,768  
                                 13,666,878  

Nevada-0.55%

          

Clark (County of); Series 2013 A, Ref. Jet Aviation Fuel Tax Airport System RB (h)

     5.00     07/01/2028        2,000        2,164,020  

Clark (County of) (Las Vegas-McCarran International Airport); Series 2010 A, Passenger Facility Charge RB

     5.13     07/01/2034        1,500        1,542,870  
                                 3,706,890  

New Jersey-6.66%

          

New Jersey (State of); Series 2001 H, Ref. Unlimited Tax GO Bonds

     5.25     07/01/2019        6,900        7,030,272  

New Jersey (State of) Economic Development Authority;
School Facilities Construction RB (h)

     5.00     07/01/2023        1,750        1,909,495  

School Facilities Construction RB (INS-AMBAC)(b)

     5.50     09/01/2024        2,000        2,262,280  

Series 2005 N-1, Ref. School Facilities Construction RB
(INS-NATL)(b)(e)(k)

     5.50     09/01/2022        3,555        3,892,156  

New Jersey (State of) Economic Development Authority (Provident Group-Montclair Properties LLC-Montclair State University Student Housing); Series 2010 A, RB (c)(d)

     5.75     06/01/2020        1,990        2,101,858  

New Jersey (State of) Economic Development Authority (The Goethals Bridge Replacement);
Series 2013, Private Activity RB (h)

     5.50     01/01/2026        1,000        1,110,880  

Series 2013, Private Activity RB (h)

     5.38     01/01/2043        1,000        1,069,190  

 

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

                                 Invesco Quality Municipal Income Trust


      Interest
Rate
    Maturity
Date
     Principal
Amount
(000)
     Value  

New Jersey-(continued)

          

New Jersey (State of) Transportation Trust Fund Authority;
Series 1999 A, Transportation System RB

     5.75     06/15/2020      $ 5,000      $ 5,176,400  

Series 2006 C, Transportation System CAB RB (INS-AGC)(b)(g)

     0.00     12/15/2026        8,435        6,328,527  

Series 2011 A, Transportation System RB

     5.50     06/15/2041        1,000        1,048,720  

Series 2018 A, Ref. Federal Highway Reimbursement RN (e)(k)

     5.00     06/15/2029        1,505        1,665,689  

Series 2018 A, Ref. Federal Highway Reimbursement RN (e)(k)

     5.00     06/15/2030        515        567,139  

Series 2018 A, Ref. Federal Highway Reimbursement RN

     5.00     06/15/2031        960        1,052,870  

Series 2018 A, Ref. RB

     5.00     12/15/2034        1,000        1,068,740  

Subseries 2016 A-1, Federal Highway Reimbursement RN

     5.00     06/15/2028        935        1,040,590  

Salem (County of) Pollution Control Financing Authority (Chambers); Series 2014 A, Ref. PCR (h)

     5.00     12/01/2023            4,000        4,194,120  

Tobacco Settlement Financing Corp.; Series 2018 A, Ref. RB

     5.25     06/01/2046        3,345        3,550,316  
                                     45,069,242  

New Mexico-0.41%

          

Farmington (City of) (Public Service Co. of New Mexico San Juan); Series 2010 C, Ref. PCR

     5.90     06/01/2040        2,650        2,777,518  

New York-14.20%

          

Brooklyn Arena Local Development Corp. (Barclays Center);
Series 2009, PILOT RB (c)(d)

     6.25     01/15/2020        1,740        1,825,556  

Series 2009, PILOT RB (c)(d)

     6.38     01/15/2020        720        756,396  

Erie Tobacco Asset Securitization Corp.; Series 2005 A, Tobacco Settlement Asset-Backed RB

     5.00     06/01/2045        2,460        2,352,400  

Metropolitan Transportation Authority;
Series 2012 F, Ref. RB

     5.00     11/15/2024        1,500        1,643,655  

Series 2013 A, Transportation RB

     5.00     11/15/2038        1,680        1,790,762  

New York & New Jersey (States of) Port Authority; Two Hundred Seventh Series 2018, Ref. Consolidated RB (e)(h)

     5.00     09/15/2028        3,105        3,621,082  

New York (City of) Industrial Development Agency (Brooklyn Navy Yard Cogen Partners); Series 1997, Industrial Development RB (h)

     5.75     10/01/2036        2,615        2,639,659  

New York (City of) Municipal Water Finance Authority;
Series 2010 FF, Second General Resolution Water & Sewer System RB

     5.00     06/15/2031        2,400        2,499,096  

Series 2012 FF, Water & Sewer System RB (e)

     5.00     06/15/2045        1,000        1,081,160  

Series 2013 DD, Water & Sewer System RB

     5.00     06/15/2035        2,900        3,163,233  

New York (City of) Transitional Finance Authority;
Series 2013 I, Sub. Future Tax Sec. RB

     5.00     05/01/2038        1,535        1,668,115  

Subseries 2009 A-1, Future Tax Sec. RB (c)(d)(e)

     5.00     05/01/2019        3,695        3,744,772  

Subseries 2009 A-1, Future Tax Sec. RB (e)

     5.00     05/01/2028        4,615        4,669,180  

Subseries 2009 A-1, Future Tax Sec. RB (e)

     5.00     05/01/2029        3,695        3,744,772  

Subseries 2011 D-1, Future Tax Sec. RB (e)

     5.00     11/01/2033        1,725        1,848,717  

Subseries 2012 E-1, Future Tax Sec. RB (e)

     5.00     02/01/2037        7,155        7,627,373  

New York (Counties of) Tobacco Trust V; Series 2005 S-2, Sub. Pass Through CAB RB (g)

     0.00     06/01/2050        10,140        1,226,940  

New York (Counties of) Tobacco Trust VI; Subseries 2016 A-1, Ref. Tobacco Settlement Pass Through RB

     5.75     06/01/2043        2,995        3,287,012  

New York (State of) Dormitory Authority (City of New York); Series 2005 A, Court Facilities Lease RB (INS-AMBAC)(b)

     5.50     05/15/2029        1,805        2,223,507  

New York (State of) Dormitory Authority (General Purpose);
Series 2011 A, State Personal Income Tax RB (e)

     5.00     03/15/2030        5,805        6,168,393  

Series 2013 A, State Personal Income Tax RB

     5.00     02/15/2037        2,050        2,237,534  

New York (State of) Thruway Authority; Series 2011 A-1, Second General Highway & Bridge Trust Fund RB (e)

     5.00     04/01/2029        4,860        5,176,921  

New York (State of) Thruway Authority (Transportation); Series 2009 A, Personal Income Tax RB (c)(d)

     5.00     03/15/2019        1,310        1,322,078  

New York Liberty Development Corp. (3 World Trade Center); Series 2014, Class 1, Ref. Liberty RB (f)

     5.00     11/15/2044        4,840        4,947,206  

New York Liberty Development Corp. (7 World Trade Center);
Series 2012, Class 1, Ref. Liberty RB (e)

     5.00     09/15/2040        5,100        5,490,660  

Series 2012, Class 2, Ref. Liberty RB

     5.00     09/15/2043        1,770        1,887,723  

 

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

                                 Invesco Quality Municipal Income Trust


      Interest
Rate
    Maturity
Date
     Principal
Amount
(000)
     Value  

New York-(continued)

          

New York Transportation Development Corp. (American Airlines, Inc.); Series 2016, Ref. Special Facilities RB (h)

     5.00     08/01/2031      $ 1,545      $ 1,595,336  

New York Transportation Development Corp. (Delta Air Lines, Inc. LaGuardia Airport Terminal C&D Redevelopment); Series 2018, Special Facilities RB (h)

     5.00     01/01/2031        3,160        3,494,676  

New York Transportation Development Corp. (LaGuardia Airport Terminal B Redevelopment);
Series 2016 A, Special Facilities RB (h)

     5.00     07/01/2046        1,620        1,700,190  

Series 2016 A, Special Facilities RB (h)

     5.25     01/01/2050        2,985        3,163,593  

Onondaga Civic Development Corp. (St. Joseph’s Hospital Health Center); Series 2014 A, RB (c)(d)

     5.00     07/01/2019        1,250        1,272,838  

Rockland Tobacco Asset Securitization Corp.; Series 2001, Tobacco Settlement Asset-Backed RB

     5.75     08/15/2043        1,500        1,537,650  

TSASC, Inc.; Series 2016 B, Ref. Sub. Tobacco Settlement Turbo RB

     5.00     06/01/2048        4,925        4,698,745  
                                 96,106,930  

North Carolina-6.62%

          

Charlotte (City of) (Charlotte Douglas International Airport);
Series 2017 A, Airport RB (e)

     5.00     07/01/2042        4,000        4,487,120  

Series 2017 A, Airport RB (e)

     5.00     07/01/2047        1,775        1,983,509  

Charlotte (City of) (Cultural Arts Facilities); Series 2009 E, Ref. COP (e)

     5.00     06/01/2039        13,600        13,780,472  

North Carolina (State of) Capital Facilities Finance Agency (Duke University);
Series 2015 B, Ref. RB (e)

     5.00     10/01/2055        6,705        7,443,757  

Series 2015 B, Ref. RB (e)

     5.00     10/01/2055        2,115        2,348,031  

North Carolina (State of) Department of Transportation (I-77 HOT Lanes);
Series 2015, Private Activity RB (h)

     5.00     12/31/2037        2,000        2,118,080  

Series 2015, Private Activity RB (h)

     5.00     06/30/2054        1,115        1,166,379  

North Carolina (State of) Eastern Municipal Power Agency; Series 2009 B, Power System RB (c)(d)

     5.00     01/01/2019        1,525        1,528,782  

North Carolina (State of) Medical Care Commission (Duke University Health System); Series 2012 A, Health Care Facilities RB (e)

     5.00     06/01/2042        5,110        5,500,149  

North Carolina (State of) Turnpike Authority;
Series 2011, Monroe Connector System State Appropriation RB (e)

     5.00     07/01/2036        1,755        1,866,899  

Series 2011, Monroe Connector System State Appropriation RB (e)

     5.00     07/01/2041        2,430        2,587,440  
                                 44,810,618  

North Dakota-0.59%

          

Ward (County of) (Trinity Obligated Group);
Series 2017 C, Health Care Facilities RB

     5.00     06/01/2043        2,040        2,116,765  

Series 2017 C, Health Care Facilities RB

     5.00     06/01/2048        1,815        1,874,423  
                                 3,991,188  

Ohio-6.12%

          

Akron, Bath & Copley Joint Township Hospital District; Series 2016, Ref. RB

     5.25     11/15/2046        775        836,907  

Allen (County of) (Catholic Health Partners); Series 2012 A, Ref. Hospital Facilities RB

     5.00     05/01/2042        1,450        1,541,379  

American Municipal Power, Inc. (Greenup Hydroelectric); Series 2016 A, RB

     5.00     02/15/2046        490        529,901  

Buckeye Tobacco Settlement Financing Authority;
Series 2007 A-2, Sr. Asset-Backed Turbo RB

     5.75     06/01/2034        450        421,182  

Series 2007 A-2, Sr. Asset-Backed Turbo RB

     5.88     06/01/2047        6,955        6,599,321  

Cleveland (City of) & Cuyahoga (County of) Port Authority (Constellation Schools); Series 2014 A, Ref. & Improvement Lease RB

     6.50     01/01/2034        1,000        1,024,170  

Cuyahoga (County of) (Metrohealth System);
Series 2017, Ref. Hospital RB

     5.50     02/15/2052        1,555        1,655,095  

Series 2017, Ref. RB

     5.25     02/15/2047        2,500        2,617,475  

Franklin (County of) (First Community Village Obligated Group); Series 2013, Ref. Health Care Facilities RB

     5.25     07/01/2033        2,000        1,923,100  

Franklin (County of) (OhioHealth Corp.); Series 2011 A, Hospital Facilities RB (e)

     5.00     11/15/2036        3,390        3,617,571  

Gallia (County of) (Holzer Health System Obligated Group); Series 2012, Ref. & Improvement Hospital Facilities RB

     8.00     07/01/2042        1,000        1,085,290  

 

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

                                 Invesco Quality Municipal Income Trust


      Interest
Rate
    Maturity
Date
     Principal
Amount
(000)
     Value  

Ohio-(continued)

          

Hamilton (County of) (Christ Hospital); Series 2012, Health Care Facilities RB

     5.50     06/01/2042      $ 3,000      $ 3,239,190  

Hamilton (County of) (Life Enriching Communities); Series 2016, Ref. Healthcare Improvement RB

     5.00     01/01/2046        1,370        1,392,797  

Hancock (County of) (Blanchard Valley Regional Health Center); Series 2011 A, Hospital Facilities RB (c)(d)

     6.25     06/01/2021        2,470        2,718,210  

Lucas (County of), Ohio (ProMedica Healthcare System); Series 2018 A, Ref. Hospital RB

     5.25     11/15/2048        1,585        1,676,851  

Montgomery (County of) (Trousdale Foundation Properties); Series 2018 A, Sr. Living RB (f)

     6.00     04/01/2038        1,425        1,379,001  

Ohio (State of) (Portsmouth Bypass); Series 2015, Private Activity RB (INS-AGM)(b)(h)

     5.00     12/31/2039        735        790,720  

Ohio (State of) Air Quality Development Authority (Pratt Paper LLC); Series 2017, Exempt Facility RB (f)(h)

     4.25     01/15/2038        555        547,824  

Ohio (State of) Higher Educational Facility Commission (Summa Health System);
Series 2010, Hospital Facilities RB (c)(d)

     5.75     05/15/2020        3,055        3,214,899  

Series 2010, Hospital Facilities RB

     5.75     11/15/2040        1,780        1,850,435  

Ohio (State of) Turnpike Commission (Infrastructure); Series 2013 A, Jr. Lien RB

     5.00     02/15/2028        2,500        2,741,200  
                                 41,402,518  

Oklahoma-0.57%

          

Oklahoma (State of) Development Finance Authority (OU Medicine); Series 2018 B, Health System RB

     5.50     08/15/2057        2,055        2,218,311  

Oklahoma (State of) Development Finance Authority (Provident Oklahoma Education Resources Inc.- Cross Village Student Housing); Series 2017, RB

     5.25     08/01/2057        1,785        1,647,751  
                                 3,866,062  

Oregon-0.48%

          

Oregon (State of) Department of Administrative Services; Series 2009 A, Lottery RB (c)(d)

     5.25     04/01/2019        685        692,734  

Warm Springs Reservation Confederated Tribes of Oregon (Pelton Round Butte); Series 2009 B, Tribal Economic Development Hydroelectric RB

     6.38     11/01/2033            2,465        2,527,266  
                                 3,220,000  

Pennsylvania-2.30%

          

Allegheny (County of) Hospital Development Authority (Allegheny Health Network Obligated Group Issue); Series 2018 A, Ref. RB

     5.00     04/01/2047        1,000        1,070,190  

Beaver (County of) Industrial Development Authority (FirstEnergy Nuclear Generation); Series 2006 A, Ref. PCR (d)(m)

     4.38     07/01/2022        850        824,500  

Pennsylvania (State of) Turnpike Commission;
Series 2012 A, Sub. RB

     5.00     12/01/2020        1,370        1,445,446  

Series 2018 B, Sub. Oil Franchise Tax RB

     5.25     12/01/2048        1,105        1,239,125  

Subseries 2010 B-2, Sub. RB (c)(d)

     5.75     12/01/2020        1,345        1,443,266  

Subseries 2010 B-2, Sub. RB (c)(d)

     5.75     12/01/2020        730        783,334  

Subseries 2010 B-2, Sub. RB (c)(d)

     5.75     12/01/2020        775        831,622  

Subseries 2010 B-2, Sub. RB (c)(d)

     6.00     12/01/2020        250        269,480  

Subseries 2010 B-2, Sub. RB (c)(d)

     6.00     12/01/2020        1,235        1,331,231  

Subseries 2010 B-2, Sub. Turnpike RB (c)(d)

     6.00     12/01/2020        265        285,649  

Philadelphia (City of);
Series 2017 A, Water & Wastewater RB

     5.00     10/01/2052        1,010        1,098,516  

Series 2017 B, Ref. Airport RB (h)

     5.00     07/01/2047        3,595        3,886,698  

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

     5.00     09/01/2047        775        835,713  

Philadelphia School District; Series 2008 E, Limited Tax GO Bonds (INS -BHAC)(b)

     5.13     09/01/2023        250        250,768  
                                     15,595,538  

Puerto Rico-1.36%

          

Children’s Trust Fund;
Series 2002, Tobacco Settlement Asset-Backed RB

     5.50     05/15/2039        2,465        2,470,768  

Series 2002, Tobacco Settlement Asset-Backed RB

     5.63     05/15/2043        1,405        1,407,641  

Series 2005 A, Tobacco Settlement Asset-Backed RB (g)

     0.00     05/15/2050        5,450        631,055  

 

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

                                 Invesco Quality Municipal Income Trust


      Interest
Rate
    Maturity
Date
     Principal
Amount
(000)
     Value  

Puerto Rico-(continued)

          

Puerto Rico (Commonwealth of); Series 2006 A, Public Improvement Unlimited Tax GO Bonds (INS-AGC) (CPI Rate + 1.00%)(b)(j)

     3.46     07/01/2019      $ 610      $ 612,471  

Puerto Rico (Commonwealth of) Electric Power Authority;
Series 2007 VV, Ref. RB (INS-NATL)(b)

     5.25     07/01/2033        690        719,539  

Series 2007 VV, Ref. RB (INS-NATL)(b)

     5.25     07/01/2035        610        631,332  

Puerto Rico (Commonwealth of) Highway & Transportation Authority; Series 2007 N, Ref. Transportation RB (INS-NATL)(b)

     5.25     07/01/2032        725        758,285  

Puerto Rico (Commonwealth of) Public Buildings Authority; Series 2007 M-3, Ref. Government Facilities RB (INS-NATL)(b)

     6.00     07/01/2024        1,910        1,977,003  
                                 9,208,094  

South Carolina-1.63%

          

South Carolina (State of) Jobs-Economic Development Authority (Palmetto Health Alliance); Series 2013 A, Ref. Hospital RB (c)(d)

     5.25     08/01/2023        1,400        1,585,374  

South Carolina (State of) Ports Authority;
Series 2015, RB (h)

     5.25     07/01/2050        3,005        3,261,777  

Series 2015, RB (h)

     5.25     07/01/2055        1,230        1,331,377  

South Carolina (State of) Public Service Authority; Series 2014 C, Ref. RB

     5.00     12/01/2046        1,120        1,171,251  

South Carolina (State of) Public Service Authority (Santee Cooper Revenue Obligations); Series 2013 E, RB

     5.50     12/01/2053        3,480        3,691,445  
                                     11,041,224  

South Dakota-0.21%

          

South Dakota (State of) Health & Educational Facilities Authority (Sanford Obligated Group); Series 2015, Ref. RB

     5.00     11/01/2045        1,315        1,398,082  

Tennessee-0.72%

          

Greeneville (Town of) Health & Educational Facilities Board (Ballad Health); Series 2018 A, Ref. Hospital RB

     5.00     07/01/2036            1,785        1,970,925  

Tennessee Energy Acquisition Corp.;
Series 2006 A, Gas RB

     5.25     09/01/2023        1,280        1,423,565  

Series 2006 A, Gas RB

     5.25     09/01/2026        1,275        1,466,518  
                                 4,861,008  

Texas-17.38%

          

Alamo Community College District; Series 2012, Ref. Limited Tax GO Bonds (e)

     5.00     08/15/2034        5,105        5,574,047  

Arlington (City of);
Series 2009, Special Tax RB (c)(d)

     5.00     02/15/2019        1,510        1,519,664  

Series 2009, Special Tax RB (c)(d)

     5.00     02/15/2019        1,760        1,771,264  

Series 2009, Special Tax RB (c)(d)

     5.00     02/15/2019        730        734,599  

Bexar (County of); Series 2009 A, Flood Control Limited Tax Ctfs. of Obligation (c)(d)

     5.00     06/15/2019        2,500        2,542,300  

Bexar County Health Facilities Development Corp. (Army Retirement Residence); Series 2010, RB (c)(d)

     6.20     07/01/2020        2,225        2,364,841  

Dallas-Fort Worth (Cities of) International Airport; Series 2014 A, Ref. RB (h)

     5.25     11/01/2026        2,000        2,220,820  

Harris (County of); Series 2007 C, Ref. Sub. Lien Toll Road Unlimited Tax GO Bonds (INS-AGM)(b)

     5.25     08/15/2031        5,395        6,711,542  

Harris County Industrial Development Corp. (Deer Park Refining Limited Partnership); Series 2006, Solid Waste Disposal RB (c)(d)

     5.00     12/01/2019        1,300        1,339,273  

Houston (City of);
Series 2009 A, Ref. Public Improvement Limited Tax GO Bonds (c)(d)

     5.00     03/01/2019        1,785        1,798,727  

Series 2009 A, Ref. Public Improvement Limited Tax GO Bonds

     5.00     03/01/2027        215        216,535  

Series 2011 D, First Lien Combined Utility System RB (e)

     5.00     11/15/2033        2,700        2,896,344  

Series 2011 D, First Lien Combined Utility System RB (e)

     5.00     11/15/2036        4,005        4,278,542  

Houston (City of) Airport System (United Airlines, Inc. Airport Improvement); Series 2015 C, Ref. RB (h)

     5.00     07/15/2020        775        799,963  

Houston (City of) Airport System (United Airlines, Inc. Terminal E); Series 2014, Ref. RB (h)

     4.75     07/01/2024        500        532,465  

 

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

                                 Invesco Quality Municipal Income Trust


      Interest
Rate
    Maturity
Date
     Principal
Amount
(000)
     Value  

Texas-(continued)

          

Houston (City of) Convention & Entertainment Facilities Department; Series 2001 B, Hotel Occupancy Tax & Special CAB RB (INS-AGM)(b)(g)

     0.00     09/01/2025      $ 4,650      $ 3,809,326  

Houston Community College System; Series 2008, Sr. Lien Student Fee RB (INS-AGM)(b)

     5.00     04/15/2023        285        285,670  

La Vernia Higher Education Finance Corp. (Meridian World School); Series 2015 A, RB (f)

     5.50     08/15/2045        1,205        1,227,883  

Lower Colorado River Authority;
Series 2012 A, Ref. RB (c)(d)

     5.00     05/15/2022        5        5,466  

Series 2012 A, Ref. RB

     5.00     05/15/2030        2,125        2,296,360  

Lower Colorado River Authority (LCRA Transmissions Services Corp.); Series 2011 A, Ref. RB

     5.00     05/15/2041        2,250        2,371,342  

New Hope Cultural Education Facilities Corp. (Presbyterian Village North);
Series 2018, Ref. Retirement Facility RB

     5.00     10/01/2032        205        206,093  

Series 2018, Ref. Retirement Facility RB

     5.00     10/01/2033        1,280        1,281,882  

New Hope Cultural Education Facilities Finance Corp. (4-K Housing, Inc.-Stoney Brook); Series 2017 A-1, Sr. Living RB

     4.75     07/01/2052        750        742,515  

New Hope Cultural Education Facilities Finance Corp. (CHF-Collegiate Housing College Station I, LLC-Texas A&M University); Series 2014 A, Student Housing RB (INS-AGM)(b)

     5.00     04/01/2046        1,900        2,005,165  

New Hope Cultural Education Facilities Finance Corp. (Collegiate Housing - Tarleton State University); Series 2014 A, Student Housing RB

     5.00     04/01/2034        1,000        1,038,730  

New Hope Cultural Education Facilities Finance Corp. (Morningside Ministries); Series 2013, First Mortgage RB

     6.50     01/01/2043        1,000        1,085,280  

North Texas Tollway Authority;
Series 2008 D, Ref. First Tier System CAB RB (INS-AGC)(b)(g)

     0.00     01/01/2028            18,900            14,131,152  

Series 2008 D, Ref. First Tier System CAB RB (INS-AGC)(b)(g)

     0.00     01/01/2031        3,740        2,471,579  

SA Energy Acquisition Public Facility Corp.; Series 2007, Gas Supply RB

     5.50     08/01/2021        1,500        1,619,250  

San Antonio (City of); Series 2013, Jr. Lien Electric & Gas Systems RB

     5.00     02/01/2038        2,495        2,703,931  

Tarrant County Cultural Education Facilities Finance Corp; (e)

     5.00     02/15/2047        3,260        3,543,718  

Tarrant County Cultural Education Facilities Finance Corp. (Air Force Village Obligated Group);
Series 2016, Ref. Retirement Facilities RB

     5.00     05/15/2037        1,395        1,408,783  

Series 2016, Ref. Retirement Facilities RB

     5.00     05/15/2045        1,090        1,091,308  

Tarrant County Cultural Education Facilities Finance Corp. (C.C. Young Memorial Home); Series 2017 A, Retirement Facility RB

     6.38     02/15/2048        1,765        1,880,007  

Tarrant County Cultural Education Facilities Finance Corp. (Texas Health Resources System); Series 2016 A, Ref. RB

     5.00     02/15/2041        3,900        4,263,207  

Temple (City of); Series 2018 A, Incremental RB (f)

     5.00     08/01/2028        750        799,372  

Texas (State of) Transportation Commission; Series 2016 A, Highway Improvement Unlimited Tax GO Bonds

     5.00     04/01/2044        1,555        1,722,349  

Texas (State of) Transportation Commission (Central Texas Turnpike System);
Series 2015 B, Ref. CAB RB (g)

     0.00     08/15/2036        3,170        1,494,179  

Series 2015 B, Ref. CAB RB (g)

     0.00     08/15/2037        970        436,064  

Series 2015 C, Ref. Sub. RB

     5.00     08/15/2042        4,080        4,302,809  

Texas A&M University System Board of Regents;
Series 2009 A, Financing System RB (c)(d)

     5.00     05/15/2019        2,500        2,535,775  

Series 2009 A, Financing System RB (c)(d)

     5.00     05/15/2019        890        902,736  

Texas Municipal Gas Acquisition & Supply Corp. I; Series 2008 D, Sr. Lien Gas Supply RB

     6.25     12/15/2026        4,860        5,591,430  

Texas Municipal Gas Acquisition & Supply Corp. III;
Series 2012, Gas Supply RB

     5.00     12/15/2028        4,095        4,414,164  

Series 2012, Gas Supply RB

     5.00     12/15/2029        2,000        2,150,860  

Series 2012, Gas Supply RB

     5.00     12/15/2031        1,200        1,284,828  

Series 2012, Gas Supply RB

     5.00     12/15/2032        1,195        1,277,706  

Texas Private Activity Bond Surface Transportation Corp. (Blueridge Transportation Group, LLC SH 288 Toll Lanes); Series 2016, Sr. Lien RB (h)

     5.00     12/31/2055        1,050        1,092,441  

Texas Private Activity Bond Surface Transportation Corp. (NTE Mobility Partners LLC North Tarrant Express Management Lanes); Series 2009, Sr. Lien RB

     6.88     12/31/2039        1,945        2,026,826  

Texas Private Activity Bond Surface Transportation Corp. (NTE Mobility Partners LLC); Series 2013, Sr. Lien RB (h)

     7.00     12/31/2038        1,300        1,500,187  

 

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

                                 Invesco Quality Municipal Income Trust


      Interest
Rate
    Maturity
Date
     Principal
Amount
(000)
     Value  

Texas-(continued)

          

University of Houston; Series 2008, Ref. RB (INS-AGM)(b)(e)

     5.00     02/15/2033      $ 1,326      $ 1,328,944  
                                 117,630,243  

Utah-0.99%

          

Salt Lake City (City of);
Series 2017 A, Airport RB (e)(h)

     5.00     07/01/2047        2,490        2,707,203  

Series 2018 A, Airport RB (h)

     5.00     07/01/2048        1,230        1,343,111  

Series 2018 A, Airport RB (h)

     5.25     07/01/2048        1,635        1,820,621  

Salt Lake City (City of) (IHC Hospitals, Inc.); Series 1991, Ref. Hospital Floating Rate RB (c)(n)

     10.58     05/15/2020        800        824,184  
                                 6,695,119  

Virgin Islands-0.36%

          

Virgin Islands (Government of) Public Finance Authority (Matching Fund Loan Note);
Series 2010 A, Sr. Lien RB

     5.00     10/01/2025        540        544,050  

Series 2010 A, Sr. Lien RB

     5.00     10/01/2029        1,860        1,873,950  
                                 2,418,000  

Virginia-2.03%

          

Fairfax (County of) Industrial Development Authority (INOVA Health System); Series 1993, Ref. RB

     5.25     08/15/2019        2,430        2,486,036  

Virginia (State of) Small Business Financing Authority (Elizabeth River Crossings Opco, LLC);
Series 2012, Sr. Lien RB (h)

     6.00     01/01/2037        725        783,870  

Series 2012, Sr. Lien RB (h)

     5.50     01/01/2042        2,930        3,102,548  

Virginia (State of) Small Business Financing Authority (Express Lanes, LLC);
Series 2012, Sr. Lien RB (h)

     5.00     07/01/2034        3,975        4,148,469  

Series 2012, Sr. Lien RB (h)

     5.00     01/01/2040        1,905        1,979,676  

Virginia (State of) Small Business Financing Authority (Transform 66P3); Series 2017, Sr. Lien Private Activity RB (h)

     5.00     12/31/2056            1,170        1,217,946  
                                 13,718,545  

Washington-4.91%

          

Chelan (County of) Public Utility District No. 1; Series 2011 A, Ref. Consolidated RB (h)

     5.50     07/01/2025        925        995,032  

Kalispel Tribe of Indians; Series 2018 B, RB (f)

     5.25     01/01/2038        1,000        1,036,480  

State of Washington; Series 2019 A, Various Purpose Unlimited Tax GO Bonds (e)

     5.00     08/01/2042        1,770        2,006,861  

Washington (State of);
Series 2010 A, Various Purpose Unlimited Tax GO Bonds (c)(d)(e)

     5.00     08/01/2019        8,850        9,034,877  

Series 2010 A, Various Purpose Unlimited Tax GO Bonds (c)(d)(e)

     5.00     08/01/2019        8,420        8,595,894  

Washington (State of) Convention Center Public Facilities District;
Series 2018, RB

     5.00     07/01/2043        1,105        1,223,699  

Series 2018, RB (e)

     5.00     07/01/2048        3,955        4,355,325  

Series 2018, RB

     5.00     07/01/2048        790        863,312  

Washington (State of) Health Care Facilities Authority (Catholic Health Initiatives); Series 2011 A, RB (e)

     5.00     02/01/2041        3,000        3,080,550  

Washington (State of) Tobacco Settlement Authority; Series 2013, Ref. RB

     5.25     06/01/2031        2,000        2,068,120  
                                     33,260,150  

Wisconsin-3.14%

          

Public Finance Authority; Series 2016, Lease Development RB (e)

     5.00     03/01/2046        3,375        3,631,061  

Public Finance Authority (American Dream at Meadowlands);
Series 2017, Limited Obligation Grant RB (f)

     6.75     08/01/2031        865        933,041  

Series 2017, Limited Obligation PILOT RB (f)

     6.75     12/01/2042        2,015        2,252,387  

Wisconsin (State of);
Series 2009 A, General Fund Annual Appropriation RB (c)(d)

     5.63     05/01/2019        190        192,977  

Series 2009 A, General Fund Annual Appropriation RB

     5.63     05/01/2028        1,810        1,838,001  

Wisconsin (State of) Health & Educational Facilities Authority (Mercy Alliance); Series 2012, RB

     5.00     06/01/2039        3,500        3,674,160  

 

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

                                 Invesco Quality Municipal Income Trust


      Interest
Rate
    Maturity
Date
     Principal
Amount
(000)
     Value  

Wisconsin-(continued)

          

Wisconsin (State of) Health & Educational Facilities Authority (Mile Bluff Medical Center, Inc.);
Series 2014, RB

     5.00     05/01/2026      $ 1,100      $ 1,144,231  

Series 2014, RB

     5.13     05/01/2029        1,000        1,033,780  

Wisconsin (State of) Public Finance Authority (Maryland Proton Treatment Center); Series 2018 A-1, Sr. RB (f)

     6.38     01/01/2048        2,330        2,367,070  

Wisconsin (State of) Public Finance Authority (Prime Healthcare Foundation, Inc.);
Series 2018 A, RB

     5.20     12/01/2037        1,585        1,659,178  

Series 2018 A, RB

     5.35     12/01/2045        1,585        1,656,658  

Wisconsin (State of) Public Finance Authority (Roseman University of Health Sciences); Series 2015, Ref. RB

     5.75     04/01/2035        795        843,614  
                                 21,226,158  

Wyoming-0.32%

          

Wyoming (State of) Municipal Power Agency; Series 2017 A, Ref. Power Supply RB (INS-BAM)(b)(e)

     5.00     01/01/2047            2,020        2,199,659  

TOTAL INVESTMENT IN SECURITIES(o)-163.12%
(Cost $1,048,341,114)

                               1,103,914,146  

FLOATING RATE NOTE OBLIGATIONS-(30.57)%

          

Notes with interest and fee rates ranging from 2.16% to 2.61% at 11/30/2018 and contractual maturities of collateral ranging from 09/01/2022 to 04/01/2056 (See Note 1D)(p)

                               (206,865,000

VARIABLE RATE MUNI TERM PREFERRED SHARES-(34.56)%

                               (233,846,270

OTHER ASSETS LESS LIABILITIES-2.01%

                               13,547,904  

NET ASSETS APPLICABLE TO COMMON SHARES-100.00%

                             $ 676,750,780  

 

Investment Abbreviations:

AGC

   - Assured Guaranty Corp.

AGM

   - Assured Guaranty Municipal Corp.

AMBAC

   - American Municipal Bond Assurance Corp.

BAM

   - Build America Mutual Assurance Co.

BHAC

   - Berkshire Hathaway Assurance Corp.

CAB

   - Capital Appreciation Bonds

Conv.

   - Convertible

COP

   - Certificates of Participation

CPI

   - Consumer Price Index

Ctfs.

   - Certificates

GO

   - General Obligation

IDR

   - Industrial Development Revenue Bonds

INS

   - Insurer

Jr.

   - Junior

NATL

   - National Public Finance Guarantee Corp.

PCR

   - Pollution Control Revenue Bonds

PILOT

   - Payment-in-Lieu-of-Tax

RB

   - Revenue Bonds

Ref.

   - Refunding

RN

   - Revenue Notes

Sec.

   - Secured

SIFMA

   - Securities Industry and Financial Markets Association

Sr.

   - Senior

Sub.

   - Subordinated

Wts.

   - Warrants

 

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

                                 Invesco Quality 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) 

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

(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) 

Underlying security related to TOB Trusts entered into by the Trust. See Note 1D.

(f) 

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, 2018 was $30,731,602, which represented 4.54% of the Trust’s Net Assets.

(g) 

Zero coupon bond issued at a discount.

(h) 

Security subject to the alternative minimum tax.

(i) 

Convertible CAB. The interest rate shown represents the coupon rate at which the bond will accrue at a specified future date.

(j) 

Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on November 30, 2018.

(k) 

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 $12,735,000. However, such shortfall payment would be reduced by the proceeds from the sale of the security underlying the TOB Trusts.

(l) 

Security subject to crossover refunding.

(m) 

Defaulted security. Currently, the issuer is partially or fully in default with respect to interest payments. The value of this security at November 30, 2018 represented less than 1% of the Trust’s Net Assets.

(n) 

Current coupon rate for inverse floating rate municipal obligations. This rate resets periodically as the rate on the related security changes. Positions in inverse floating rate municipal obligations have a total value of $824,184, which represented less than 1% of the Trust’s Net Assets.

(o) 

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

(p) 

Floating rate note obligations related to securities held. The interest and fee rates shown reflect the rates in effect at November 30, 2018. At November 30, 2018, the Trust’s investments with a value of $312,455,506 are held by TOB Trusts and serve as collateral for the $206,865,000 in the floating rate note obligations outstanding at that date.

 

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

                                 Invesco Quality Municipal Income Trust


Notes to Quarterly Schedule of Portfolio Holdings

November 30, 2018

(Unaudited)

NOTE 1–Significant Accounting Policies

 

A.

Security Valuations – Securities, including restricted securities, are valued according to the following policy.

Securities are fair valued using an evaluated quote provided by an independent pricing service approved by the Board of Trustees. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate (for unlisted equities), yield (for debt obligations), quality, type of issue, coupon rate (for debt obligations), maturity (for debt obligations), individual trading characteristics and other market data. Pricing services generally value debt obligations assuming orderly transactions of institutional round lot size, but a trust may hold or transact in the same securities in smaller, odd lot sizes. Odd lots often trade at lower prices than institutional round lots. Debt obligations are subject to interest rate and credit risks. In addition, all debt obligations involve some risk of default with respect to interest and/or principal payments.

Securities for which market quotations are not readily available or became unreliable are valued at fair value as determined in good faith by or under the supervision of the Trust’s officers following procedures approved by the Board of Trustees. Some of the factors which may be considered in determining fair value are fundamental analytical data relating to the investment; the nature and duration of any restrictions on transferability or disposition; trading in similar securities by the same issuer or comparable companies; relevant political, economic or issuer specific news; and other relevant factors under the circumstances.

The Trust may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/ or liquidity of certain Trust investments.

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer’s assets, general economic conditions, interest rates, investor perceptions and market liquidity. 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.

B.

Securities Transactions and Investment Income – Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on the accrual basis from settlement date. Bond premiums and discounts are amortized and/or accreted over the lives of the respective securities. Pay-in-kind interest income and non-cash dividend income received in the form of securities in-lieu of cash are recorded at the fair value of the securities received. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date.

The Trust may periodically participate in litigation related to Trust investments. As such, the Trust may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.

Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Trust’s net asset value and, accordingly, they reduce the Trust’s total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Trust and the investment adviser.

C.

Country Determination – For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuer’s securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted.

D.

Floating Rate Note Obligations – The Trust invests in inverse floating rate securities, such as Tender Option Bonds (“TOBs”), for investment purposes and to enhance the yield of the Trust. Such securities may be purchased in the secondary market without first owning an underlying bond but generally are created through the sale of fixed rate bonds by the Trust to special purpose trusts established by a broker dealer or by the Trust (“TOB Trusts”) in exchange for cash and residual interests in the TOB Trusts’ assets and cash flows, which are in the form of inverse floating rate securities. The TOB Trusts finance the purchases of the fixed rate bonds by issuing floating rate notes to third parties and allowing the Trust to retain residual interests in the bonds. The floating rate notes issued by the TOB Trusts have interest rates that reset weekly and the floating rate note holders have the option to tender their notes to the TOB Trusts for redemption at par at each reset date. The residual interests held by the Trust (inverse floating rate securities) include the right of the Trust (1) to cause the holders of the floating rate notes to tender their notes at par at the next interest rate reset date, and (2) to transfer the municipal bond from the TOB Trust to the Trust, thereby collapsing the TOB Trust. Inverse floating rate securities tend to underperform the market for fixed rate bonds in a rising interest rate environment, but tend to outperform the market for fixed rate bonds when interest rates decline or remain relatively stable.

The Trust generally invests in inverse floating rate securities that include embedded leverage, thus exposing the Trust to greater risks and increased costs. The primary risks associated with inverse floating rate securities are varying degrees of liquidity and decreases in the value of such securities in response to changes in interest rates to a greater extent than fixed rate securities having similar credit quality, redemption provisions and maturity, which may cause the Trust’s net asset value to be more volatile than if it had not invested in inverse floating rate

 

                                 Invesco Quality Municipal Income Trust


D.

Floating Rate Note Obligations – (continued)

 

securities. In certain instances, the short-term floating rate notes created by the TOB Trust may not be able to be sold to third parties or, in the case of holders tendering (or putting) such notes for repayment of principal, may not be able to be remarketed to third parties. In such cases, the TOB Trust holding the fixed rate bonds may be collapsed with the entity that contributed the fixed rate bonds to the TOB Trust. In the case where a TOB Trust is collapsed with the Trust, the Trust will be required to repay the principal amount of the tendered securities, which may require the Trust to sell other portfolio holdings to raise cash to meet that obligation. The Trust could therefore be required to sell other portfolio holdings at a disadvantageous time or price to raise cash to meet this obligation, which risk will be heightened during times of market volatility, illiquidity or uncertainty. The embedded leverage in the TOB Trust could cause the Trust to lose more money than the value of the asset it has contributed to the TOB Trust and greater levels of leverage create the potential for greater losses. In addition, a Trust may enter into reimbursement agreements with the liquidity provider of certain TOB transactions in connection with certain residuals held by the Trust. These agreements commit a Trust to reimburse the liquidity provider to the extent that the liquidity provider must provide cash to a TOB Trust, including following the termination of a TOB Trust resulting from a mandatory tender event (“liquidity shortfall”). The reimbursement agreement will effectively make the Trust liable for the amount of the negative difference, if any, between the liquidation value of the underlying security and the purchase price of the floating rate notes issued by the TOB Trust.

The Trust accounts for the transfer of fixed rate bonds to the TOB Trusts as secured borrowings, with the securities transferred remaining in the Trust’s investment assets, and the related floating rate notes reflected as Trust liabilities under the caption Floating rate note obligations on the Statement of Assets and Liabilities. The carrying amount of the Trust’s floating rate note obligations as reported on the Statement of Assets and Liabilities approximates its fair value. The Trust records the interest income from the fixed rate bonds under the caption Interest and records the expenses related to floating rate obligations and any administrative expenses of the TOB Trusts as a component of Interest, facilities and maintenance fees on the Statement of Operations.

Final rules implementing section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Volcker Rule”) prohibit banking entities from engaging in proprietary trading of certain instruments and limit such entities’ investments in, and relationships with, “covered funds”, as defined in the rules. These rules preclude banking entities and their affiliates from sponsoring and/or providing services for existing TOB Trusts. A new TOB structure is being utilized by the Trust wherein the Trust, as holder of the residuals, will perform certain duties previously performed by banking entities as “sponsors” of TOB Trusts. These duties may be performed by a third-party service provider. The Trust’s expanded role under the new TOB structure may increase its operational and regulatory risk. The new structure is substantially similar to the previous structure; however, pursuant to the Volcker Rule, the remarketing agent would not be able to repurchase tendered floaters for its own account upon a failed remarketing. In the event of a failed remarketing, a banking entity serving as liquidity provider may loan the necessary Trusts to the TOB Trust to purchase the tendered floaters. The TOB Trust, not the Trust, would be the borrower and the loan from the liquidity provider will be secured by the purchased floaters now held by the TOB Trust. However, as previously described, the Trust would bear the risk of loss with respect to any liquidity shortfall to the extent it entered into a reimbursement agreement with the liquidity provider.

Further, the SEC and various banking agencies have adopted rules implementing credit risk retention requirements for asset-backed securities (the “Risk Retention Rules”). The Risk Retention Rules require the sponsor of a TOB Trust to retain at least 5% of the credit risk of the underlying assets supporting the TOB Trust’s municipal bonds. The Trust has adopted policies intended to comply with the Risk Retention Rules. The Risk Retention Rules may adversely affect the Trust’s ability to engage in TOB Trust transactions or increase the costs of such transactions in certain circumstances.

There can be no assurances that the new TOB structure will continue to be a viable form of leverage. Further, there can be no assurances that alternative forms of leverage will be available to the Trust in order to maintain current levels of leverage. Any alternative forms of leverage may be less advantageous to the Trust, and may adversely affect the Trust’s net asset value, distribution rate and ability to achieve its investment objective.

TOBs are presently classified as private placement securities. Private placement securities are subject to restrictions on resale because they have not been registered under the Securities Act of 1933, as amended (the “1933 Act”), or are otherwise not readily marketable. As a result of the absence of a public trading market for these securities, they may be less liquid than publicly traded securities. Although atypical, these securities may be resold in privately negotiated transactions, the prices realized from these sales could be less than those originally paid by the Trust or less than what may be considered the fair value of such securities.

E.

Other Risks – The value of, payment of interest on, repayment of principal for and the ability to sell a municipal security may be affected by constitutional amendments, legislative enactments, executive orders, administrative regulations, voter initiatives and the economics of the regions in which the issuers are located.

Since many municipal securities are issued to finance similar projects, especially those relating to education, health care, transportation and utilities, conditions in those sectors can affect the overall municipal securities market and the Trust’s investments in municipal securities.

There is some risk that a portion or all of the interest received from certain tax-free municipal securities could become taxable as a result of determinations by the Internal Revenue Service.

NOTE 2–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 or are unreliable. 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.

 

                                 Invesco Quality Municipal Income Trust


    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 the Trust’s own 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, 2018, 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 Quality Municipal Income Trust


Item 2. Controls and Procedures.

 

  (a)

As of January 25, 2019, an evaluation was performed under the supervision and with the participation of the officers of the Registrant, including the Principal Executive Officer (“PEO”) and Principal Financial Officer (“PFO”), to assess the effectiveness of the Registrant’s disclosure controls and procedures, as that term is defined in Rule 30a-3(c) under the Investment Company Act of 1940 (“Act”), as amended. Based on that evaluation, the Registrant’s officers, including the PEO and PFO, concluded that, as of January 25, 2019, the Registrant’s disclosure controls and procedures were reasonably designed so as to ensure: (1) that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the time periods specified by the rules and forms of the Securities and Exchange Commission; and (2) that material information relating to the Registrant is made known to the PEO and PFO as appropriate to allow timely decisions regarding required disclosure.

 

  (b)

There have been no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the Registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 3. Exhibits.

Certifications of PEO and PFO as required by Rule 30a-2(a) under the Investment Company Act of 1940.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant:    Invesco Quality Municipal Income Trust

 

By:   

  /s/ Sheri Morris

     Sheri Morris
     Principal Executive Officer
Date:      January 29, 2019

Pursuant to the requirements of the Securities and Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

 

By:   

  /s/ Sheri Morris

     Sheri Morris
     Principal Executive Officer
Date:      January 29, 2019
By:   

  /s/ Kelli Gallegos

     Kelli Gallegos
     Principal Financial Officer
Date:      January 29, 2019

 


EXHIBIT INDEX

Certifications of Principal Executive Officer (“PEO”) and Principal Financial Officer (“PFO”) as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended.