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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 811-06567
Invesco Van Kampen Municipal Opportunity Trust
 
(Exact name of registrant as specified in charter)
1555 Peachtree Street, N.E., Atlanta, Georgia 30309
 
(Address of principal executive offices) (Zip code)
Colin D. Meadows 1555 Peachtree Street, N.E., 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: 10/31
Date of reporting period: 01/31/11
 
 

 


 

Item 1. Schedule of Investments.

 


 

Invesco Van Kampen Municipal
Opportunity Trust
Quarterly Schedule of Portfolio Holdings
January 31, 2011
         
         
(INVESCO LOGO)
invesco.com/us
  VK-CE-MOPP-QTR-1    01/11   Invesco Advisers, Inc.

 


 

Schedule of Investments
January 31, 2011
(Unaudited)
                                 
                    Principal        
    Interest     Maturity     Amount        
    Rate     Date     (000)     Value  
 
Municipal Obligations—175.77%
                               
Alabama—1.84%
                               
Bessemer Governmental Utility Services Corp.; Series 2008 A, Ref. Water Supply RB (INS-AGL) (a)(b)
    5.00 %     06/01/39     $ 1,975     $ 1,847,316  
 
Birmingham (City of) Airport Authority; Series 2010, Airport RB (INS-AGM) (b)
    5.25 %     07/01/30       1,500       1,463,385  
 
Health Care Authority for Baptist Health (The); Series 2009 A, RB (c)(d)
    6.13 %     05/15/12       1,250       1,299,350  
 
Huntsville-Redstone Village (City of) Special Care Facilities Financing Authority; Series 2007, Retirement Facilities RB
    5.50 %     01/01/43       1,600       1,146,352  
 
Mobile Industrial Development Board (Mobile Energy Services Co.); Series 1995, Ref. Solid Waste Disposal RB (e)
    6.95 %     01/01/20       5       0  
 
Selma (City of) Industrial Development Board (Gulf Opportunity Zone); Series 2009 A, RB
    6.25 %     11/01/33       1,825       1,828,431  
 
 
                            7,584,834  
 
Alaska—0.33%
                               
Northern Tobacco Securitization Corp.; Series 2006 A, Tobacco Settlement Asset-Backed RB
    5.00 %     06/01/46       2,300       1,355,482  
 
Arizona—4.84%
                               
Arizona (State of) Capital Facilities Finance Corp. (Arizona State University); Series 2000, Student Housing RB
    6.25 %     09/01/32       1,425       1,297,975  
 
Arizona (State of) Transportation Board;
                               
 
Series 2008 B, Highway RB (a)
    5.00 %     07/01/25       1,575       1,630,661  
 
Series 2008 B, Highway RB (a)
    5.00 %     07/01/26       2,365       2,424,527  
 
Glendale (City of) Industrial Development Authority (Midwestern University);
                               
 
Series 2010, RB
    5.00 %     05/15/35       500       433,010  
 
Series 2010, RB
    5.13 %     05/15/40       1,000       887,410  
 
Goodyear (City of) McDowell Road Commercial Corridor Improvement District; Series 2007, Special Assessment Bonds (INS-AMBAC) (b)
    5.25 %     01/01/32       1,775       1,620,415  
 
Maricopa (County of) Industrial Development Authority (Catholic Healthcare West); Series 2009 C, Health Facilities RB (c)(d)
    5.00 %     07/01/14       2,050       2,190,056  
 
Maricopa (County of) Pollution Control Corp. (Arizona Public Service Co. — Palo Verde); Series 2009 B, Ref. PCR (c)(d)
    5.50 %     05/01/12       1,125       1,159,999  
 
Maricopa (County of) Stadium District; Series 2002, Ref. RB (INS-AMBAC) (b)
    5.38 %     06/01/19       1,500       1,561,170  
 
Navajo (County of) Pollution Control Corp.;
                               
 
Series 2009 C, RB (c)(d)
    5.50 %     06/01/14       575       610,667  
 
Series 2009 E, RB (c)(d)
    5.75 %     06/01/16       675       696,573  
 
Phoenix (City of) Industrial Development Authority (Career Success Schools);
                               
 
Series 2009, Education RB
    7.00 %     01/01/39       595       564,340  
 
Series 2009, Education RB
    7.13 %     01/01/45       570       544,669  
 
Pima (County of) Industrial Development Authority (Global Water Resources LLC); Series 2007, Water & Wastewater RB (f)
    6.55 %     12/01/37       2,100       1,804,278  
 
Salt River Project Agricultural Improvement & Power District; Series 2009 A, Electric System RB (a)
    5.00 %     01/01/28       1,930       1,955,727  
 
University Medical Center Corp.; Series 2005, Hospital RB
    5.00 %     07/01/35       705       610,354  
 
 
                            19,991,831  
 
California—15.53%
                               
Anaheim (City of) Public Financing Authority (Public Improvements); Series 1997 C, Sub. Lease RB (INS-AGM) (b)(g)
    0.00 %     09/01/20       2,630       1,530,476  
 
Bay Area Governments Association (California Redevelopment Agency Pool); Series 2004 A, Tax Allocation RB (INS-SGI) (b)
    5.25 %     09/01/29       2,400       1,847,232  
 
Bay Area Toll Authority (San Francisco Bay Area); Series 2008 F-1, Toll Bridge RB (a)
    5.00 %     04/01/39       4,000       3,755,720  
 
Beverly Hills (City of) Unified School District California (Election of 2008); Series 2009, Unlimited Tax GO Bonds (g)
    0.00 %     08/01/28       750       259,830  
 
See accompanying notes which are an integral part of this schedule.
Invesco Van Kampen Municipal Opportunity Trust

 


 

                                 
                    Principal        
    Interest     Maturity     Amount        
    Rate     Date     (000)     Value  
 
California—(continued)
                               
California (State of) Department of Water Resources (Central Valley);
                               
 
Series 2008 AE, Water RB (a)
    5.00 %     12/01/24     $ 725     $ 760,634  
 
Series 2008 AE, Water RB (a)
    5.00 %     12/01/25       900       934,452  
 
Series 2008 AE, Water RB (a)
    5.00 %     12/01/26       900       924,111  
 
Series 2008 AE, Water RB (a)
    5.00 %     12/01/27       525       534,476  
 
Series 2008 AE, Water RB (a)
    5.00 %     12/01/28       900       910,683  
 
California (State of) Health Facilities Financing Authority (Catholic Health Care West) Series 2009 A, RB
    6.00 %     07/01/34       1,000       1,003,870  
 
California (State of) Housing Finance Agency (Home Mortgage);
                               
 
Series G 2007, RB (f)
    5.05 %     02/01/29       2,255       2,093,745  
 
Series K 2008, RB (f)
    5.30 %     08/01/23       2,900       2,814,943  
 
Series K 2008, RB (f)
    5.45 %     08/01/28       3,400       3,289,840  
 
California (State of) Housing Finance Agency; Series 2007 G, RB (f)
    4.95 %     08/01/23       4,200       3,935,400  
 
California (State of) Pollution Control Financing Authority (Waste Management Inc.); Series 2002 B, Solid Waste Disposal RB (f)
    5.00 %     07/01/27       2,000       1,900,380  
 
California (State of) Public Works Board (Department of Mental Health Coalinga State Hospital); Series 2004 A, Lease RB
    5.00 %     06/01/25       2,000       1,853,800  
 
California (State of) Statewide Communities Development Authority (Adventist Health System/West); Series 2005 A, Health Facility RB
    5.00 %     03/01/30       5,000       4,441,300  
 
California (State of) Statewide Communities Development Authority (Kaiser Permanente); Series 2009 A, RB
    5.00 %     04/01/19       1,250       1,301,787  
 
California (State of);
                               
 
Series 2009, Various Purpose Unlimited Tax GO Bonds
    5.75 %     04/01/31       1,150       1,150,265  
 
Series 2009 A, Ref. Economic Recovery Unlimited Tax GO Bonds
    5.25 %     07/01/21       1,800       1,929,474  
 
Daly (City of) Housing Development Finance Agency (Franciscan Mobile Home Park Acquisition); Series 2007 C, Third Tier Ref. RB
    6.50 %     12/15/47       410       333,695  
 
Foothill/Eastern Transportation Corridor Agency; Series 1999, Toll Road RB (g)
    0.00 %     01/15/25       5,000       1,679,950  
 
Golden State Tobacco Securitization Corp.;
                               
 
Series 2007 A-1, Sr. Tobacco Settlement Asset-Backed RB
    4.50 %     06/01/27       770       556,772  
 
Series 2007 A-1, Sr. Tobacco Settlement Asset-Backed RB
    5.75 %     06/01/47       4,160       2,730,749  
 
M-S-R Public Power Agency (San Juan); Series 2008 M, VRD RB (LOC-Dexia Credit Local) (h)(i)
    0.19 %     07/01/22       4,500       4,500,000  
 
Morongo Band of Mission Indians (Enterprise Casino); Series 2008, RB (j)
    5.50 %     03/01/18       145       136,252  
 
Northern California Tobacco Securitization Authority (Sacramento County Tobacco Securitization Corp.); Series 2005 A-1, Tobacco Settlement Asset-Backed RB
    5.38 %     06/01/38       2,400       1,651,272  
 
Palomar Pomerado Health Care District; Series 2009, COP
    6.75 %     11/01/39       1,050       1,023,876  
 
Sacramento (County of); Series 2010, Sr. Airport System RB
    5.00 %     07/01/40       2,100       1,864,128  
 
San Francisco City & County Airports Commission; Series 2008 A-4, Ref. RB (c)(d)(f)
    6.50 %     05/01/12       1,150       1,224,761  
 
Southern California Tobacco Securitization Authority (San Diego County Tobacco Asset Securitization Corp.);
                               
 
Series 2006 A-1, Sr. Tobacco Settlement Asset-Backed RB
    5.00 %     06/01/37       3,000       1,976,970  
 
Series 2006 A-1, Sr. Tobacco Settlement Asset-Backed RB
    5.13 %     06/01/46       10,000       5,980,200  
 
Turlock (City of) (Emanuel Medical Center, Inc.); Series 2004, Health Facilities COP
    5.38 %     10/15/34       1,600       1,297,936  
 
Vernon (City of); Series 2009 A, Electric System RB
    5.13 %     08/01/21       2,000       2,008,620  
 
 
                            64,137,599  
 
Colorado—3.61%
                               
Colorado (State of) Health Facilities Authority (Catholic Health); Series 2006 C5, RB (INS-AGM) (a)(b)
    5.00 %     09/01/36       4,475       4,126,308  
 
Colorado (State of) Health Facilities Authority (Evangelical Lutheran); Series 2005, RB
    5.00 %     06/01/35       3,700       3,272,428  
 
Colorado (State of) Health Facilities Authority (Portercare Adventist Health); Series 2001, Hospital RB (k)
    6.50 %     11/15/11       1,000       1,057,170  
 
Colorado (State of) Health Facilities Authority (Volunteers of America Care);
                               
 
Series 2007 A, RB
    5.25 %     07/01/27       500       415,795  
 
Series 2007 A, RB
    5.30 %     07/01/37       375       270,056  
 
Colorado (State of) Housing & Finance Authority (Multi-Family Housing); Series 1997 B-2, Insured Mortgage RB (INS-FHA) (b)(f)
    5.80 %     10/01/28       645       645,097  
 
Highlands Ranch Metropolitan District No. 2;
                               
 
Series 1996, Unlimited Tax GO Bonds (l)
    6.50 %     06/15/11       530       542,206  
 
Series 1996, Unlimited Tax GO Bonds (INS-AGM) (b)
    6.50 %     06/15/11       470       480,697  
 
See accompanying notes which are an integral part of this schedule.
Invesco Van Kampen Municipal Opportunity Trust

 


 

                                 
                    Principal        
    Interest     Maturity     Amount        
    Rate     Date     (000)     Value  
 
Colorado—(continued)
                               
Montezuma (County of) Hospital District (Health Facilities Enterprise); Series 2007, Ref. Hospital RB
    5.90 %     10/01/37     $ 910     $ 710,009  
 
Regional Transportation District (Denver Transit Partners Eagle P3);
                               
 
Series 2010, Private Activity RB
    6.00 %     01/15/34       1,050       965,570  
 
Series 2010, Private Activity RB
    6.50 %     01/15/30       1,300       1,288,768  
 
Salida Hospital District; Series 2006, Hospital RB
    5.25 %     10/01/36       1,499       1,146,135  
 
 
                            14,920,239  
 
Connecticut—2.15%
                               
Connecticut (State of) (Bradley International Airport); Series 2000 A, Special Obligation Parking RB (INS-ACA) (b)(f)
    6.60 %     07/01/24       6,500       6,034,210  
 
Connecticut (State of) Housing Finance Authority; Series 2010 D 2, Sub. Housing Mortgage Finance Program RB (f)
    5.00 %     05/15/31       1,550       1,479,522  
 
Hamden (Town of) (Whitney Center); Series 2009 B, Facility Entrance Fee Principal Redemption RB
    6.13 %     01/01/14       1,350       1,354,995  
 
 
                            8,868,727  
 
District of Columbia—5.00%
                               
District of Columbia (Gonzaga College High School); Series 2002, RB (INS-AGM) (b)
    5.25 %     07/01/32       2,500       2,265,700  
 
District of Columbia (Sibley Memorial Hospital);
                               
 
Series 2009, Hospital RB
    6.38 %     10/01/34       2,215       2,277,795  
 
Series 2009, Hospital RB
    6.50 %     10/01/29       700       729,554  
 
District of Columbia Water & Sewer Authority;
                               
 
Series 2007 A, Public Utility RB (INS-AGM/NATL/FGIC) (b)
    5.50 %     10/01/41       8,000       8,226,080  
 
Series 2008 A, Ref. Public Utility Sub. Lien RB (INS-AGL) (a)(b)
    5.00 %     10/01/29       700       703,717  
 
Series 2008 A, Ref. Public Utility Sub. Lien RB (INS-AGL) (a)(b)
    5.00 %     10/01/34       1,425       1,398,723  
 
Metropolitan Washington Airports Authority; Series 2002 A, Airport System RB (INS-NATL/FGIC) (b)(f)
    5.25 %     10/01/32       5,350       5,061,689  
 
 
                            20,663,258  
 
Florida—11.96%
                               
Alachua (County of) (North Florida Retirement Village); Series 2007, IDR
    5.88 %     11/15/36       1,000       748,610  
 
Brevard (County of) Health Facilities Authority (Buena Vida Estates, Inc.); Series 2008, Residential Care Facility RB
    6.75 %     01/01/37       1,220       1,085,031  
 
Citizens Property Insurance Corp. (High Risk Account); Series 2010 A-1, Sr. Sec. RB
    5.25 %     06/01/17       2,090       2,163,192  
 
Escambia (County of) Health Facilities Authority (Florida Health Care Facility Loan Veterans Health Administration Program); Series 2000, Health Facilities RB (INS-AMBAC) (b)
    5.95 %     07/01/20       350       355,373  
 
Florida (State of) Department of Transportation;
                               
 
Series 2008 A, Ref. Turnpike RB (a)
    5.00 %     07/01/26       2,540       2,546,909  
 
Series 2008 A, Ref. Turnpike RB (a)
    5.00 %     07/01/27       2,580       2,561,347  
 
Series 2008 A, Ref. Turnpike RB (a)
    5.00 %     07/01/28       2,805       2,748,984  
 
Series 2008 A, Ref. Turnpike RB (a)
    5.00 %     07/01/32       2,500       2,431,050  
 
Florida (State of) Seminole Indian Tribe; Series 2007 A, Special Obligation RB (j)
    5.75 %     10/01/22       750       705,757  
 
Hernando (County of) Sterling Hill Community Development; Series 2003 A, Capital Improvement RB
    6.20 %     05/01/35       750       632,198  
 
Hillsborough (County of) Aviation Authority;
                               
 
Series 2008 A, RB (INS-AGL) (a)(b)(f)
    5.38 %     10/01/33       900       845,010  
 
Series 2008 A, RB (INS-AGL) (a)(b)(f)
    5.50 %     10/01/38       2,000       1,878,420  
 
Hillsborough (County of) Industrial Development Authority (Tampa Electric Co.);
                               
 
Series 2006, Ref. PCR (INS-AMBAC) (b)(c)(d)
    5.00 %     03/15/12       700       724,843  
 
Series 2007 B, Ref. PCR (c)(d)
    5.15 %     09/01/13       775       829,025  
 
Main Street Community Development District;
                               
 
Series 2008 A, Capital Improvement Special Assessment RB (j)
    6.80 %     05/01/38       665       496,496  
 
Series 2008 B, Capital Improvement Special Assessment RB (j)
    6.90 %     05/01/17       400       360,252  
 
Miami-Dade (County of) Expressway Authority; Series 2010 A, Ref. Toll System RB
    5.00 %     07/01/40       2,000       1,819,800  
 
Miami-Dade (County of) Health Facilities Authority (Miami Children’s Hospital); Series 2010 A, Ref. Hospital RB
    6.13 %     08/01/42       595       583,207  
 
See accompanying notes which are an integral part of this schedule.
Invesco Van Kampen Municipal Opportunity Trust

 


 

                                 
                    Principal        
    Interest     Maturity     Amount        
    Rate     Date     (000)     Value  
 
Florida—(continued)
                               
Miami-Dade (County of) Miami International Airport;
                               
 
Series 2002, Aviation RB (INS-AGC/FGIC) (b)(f)
    5.38 %     10/01/27     $ 2,100     $ 2,086,140  
 
Series 2002, Aviation RB (INS-AGC/FGIC) (b)(f)
    5.38 %     10/01/32       2,500       2,351,200  
 
Midtown Miami Community Development District; Series 2004 A, Special Assessment RB
    6.00 %     05/01/24       545       506,801  
 
Orange (County of) Health Facilities Authority (Orlando Lutheran Towers, Inc.); Series 2007, First Mortgage RB
    5.50 %     07/01/32       1,525       1,215,928  
 
Overoaks Community Development District;
                               
 
Series 2004 A, Capital Improvement Special Assessment RB (e)
    6.13 %     05/01/35       120       1  
 
Series 2010 A-1, Capital Improvement RB
    6.13 %     05/01/35       55       49,769  
 
Series 2010 A-2, Capital Improvement RB (m)
    6.13 %     05/01/35       125       70,935  
 
Series 2010 B, Capital Improvement RB (m)
    5.13 %     05/01/17       280       227,220  
 
Palm Beach (County of) Health Facilities Authority (The Waterford); Series 2007, RB
    5.88 %     11/15/37       1,000       877,660  
 
Palm Beach (County of) Solid Waste Authority; Series 2009, Improvement RB (INS-BHAC) (a)(b)
    5.50 %     10/01/23       2,400       2,544,000  
 
Pasco (County of) Seven Oaks Community Development District II; Series 2004 A, Special Assessment RB
    5.88 %     05/01/35       855       605,622  
 
Port St. Lucie (City of) (Southwest Annexation District No. 1); Series 2007 B, Special Assessment RB (INS-NATL) (b)
    5.00 %     07/01/40       5,500       4,469,685  
 
Putnam (County of) Development Authority (Seminole); Series 2007 A, Ref. PCR (INS-AMBAC) (b)(c)(d)
    5.35 %     05/01/18       2,900       2,983,752  
 
Reunion East Community Development District; Series 2005, Special Assessment RB
    5.80 %     05/01/36       490       239,267  
 
South Miami (City of) Health Facilities Authority (Baptist Health South Florida Obligated Group); Series 2007, Hospital RB (a)
    5.00 %     08/15/32       7,510       6,742,253  
 
Tolomato Community Development District; Series 2007, Special Assessment RB
    6.65 %     05/01/40       1,140       759,400  
 
World Commerce Community Development District; Series 2007, Special Assessment RB (e)
    5.50 %     05/01/38       475       152,062  
 
 
                            49,397,199  
 
Georgia—6.03%
                               
Atlanta (City of) (Beltline);
                               
 
Series 2009 B, Tax Allocation RB
    6.75 %     01/01/20       620       617,904  
 
Series 2009 B, Tax Allocation RB
    6.75 %     01/01/20       345       343,834  
 
Series 2009 B, Tax Allocation RB
    7.38 %     01/01/31       190       186,202  
 
Atlanta (City of);
                               
 
Series 2000 B, Airport General Ref. RB (INS-NATL/FGIC) (b)(f)
    5.63 %     01/01/30       1,000       973,850  
 
Series 2004 C, Airport Passenger Facility Charge & Sub. Lien General RB (INS-AGM) (a)(b)
    5.00 %     01/01/33       5,000       4,787,950  
 
Series 2009 A, Water & Wastewater RB
    6.00 %     11/01/27       1,150       1,202,808  
 
Series 2009 A, Water & Wastewater RB
    6.00 %     11/01/28       1,250       1,298,537  
 
Series 2009 A, Water & Wastewater RB
    6.00 %     11/01/29       1,150       1,187,387  
 
Georgia (State of) Municipal Electric Authority; Series 1997 A, RB (INS-NATL/IBC) (b)
    6.50 %     01/01/20       7,000       8,154,580  
 
Monroe (County of) Development Authority (Oglethorpe Power Corp. Scherer); Series 1992 A, PCR
    6.80 %     01/01/12       3,770       3,939,763  
 
Oconee (County of) Industrial Development Authority (OIIT); Series 2003, RB (INS-SGI) (b)
    5.25 %     07/01/25       1,000       1,003,550  
 
Putnam (County of) Development Authority (Georgia Power Co.); Series 1996, PCR
    5.10 %     06/01/23       1,200       1,206,048  
 
 
                            24,902,413  
 
Hawaii—0.42%
                               
Hawaii (State of); Series 2010 A, Airport System RB
    5.00 %     07/01/39       1,875       1,753,688  
 
Idaho—0.86%
                               
Idaho (State of) Health Facilities Authority (St. Luke’s Health System);
                               
 
Series 2008 A, RB
    6.50 %     11/01/23       750       814,455  
 
Series 2008 A, RB
    6.75 %     11/01/37       1,000       1,062,350  
 
Idaho (State of) Health Facilities Authority (Valley Vista Care Corp.); Series 2007, Ref. RB
    6.13 %     11/15/27       775       634,027  
 
Regents of the University of Idaho (The); Series 2011, Ref. General RB (c)(d)
    5.25 %     04/01/21       1,010       1,062,601  
 
 
                            3,573,433  
 
See accompanying notes which are an integral part of this schedule.
Invesco Van Kampen Municipal Opportunity Trust

 


 

                                 
                    Principal        
    Interest     Maturity     Amount        
    Rate     Date     (000)     Value  
 
Illinois—17.94%
                               
Bartlett (Village of) (Quarry Redevelopment); Series 2007, Ref. Sr. Lien Tax Allocation RB
    5.60 %     01/01/23     $ 1,250     $ 1,010,588  
 
Bolingbrook (Village of); Series 1999 B, Unlimited Tax GO Bonds (INS-NATL) (b)(g)
    0.00 %     01/01/30       1,365       393,830  
 
Bourbonnais (Village of) (Olivet Nazarene University); Series 2010, IDR
    5.50 %     11/01/40       675       616,214  
 
Chicago (City of) (O’Hare International Airport);
                               
 
Series 2002 A, Ref. General Airport Third Lien RB (INS-NATL) (b)(f)
    5.38 %     01/01/32       3,150       2,845,836  
 
Series 2005 A, Airport RB (INS-AGC/NATL) (a)(b)
    5.25 %     01/01/24       10,900       10,979,243  
 
Series 2005 A, Airport RB (INS-AGC/NATL) (a)(b)
    5.25 %     01/01/25       10,000       10,021,000  
 
Series 2005 A, Airport RB (INS-AGC/NATL) (a)(b)
    5.25 %     01/01/26       3,855       3,819,457  
 
Chicago (City of) Board of Education;
                               
 
Series 2008 C, Ref. Unlimited Tax GO Bonds (INS-AGM) (a)(b)
    5.00 %     12/01/27       2,600       2,462,356  
 
Series 2008 C, Ref. Unlimited Tax GO Bonds (INS-AGM) (b)
    5.00 %     12/01/27       4,000       3,788,240  
 
Chicago (City of); Series 2008 A, Unlimited Tax GO Bonds (INS-AGL) (a)(b)
    5.25 %     01/01/25       1,450       1,415,679  
 
Granite City (City of) (Waste Management, Inc.); Series 2002, Disposal RB (c)(d)(f)
    3.50 %     05/01/13       800       796,712  
 
Illinois (State of) Finance Authority (Christian Homes, Inc. Obligated Group); Series 2007 A, Ref. RB
    5.75 %     05/15/26       2,300       2,012,891  
 
Illinois (State of) Finance Authority (KishHealth System Obligated Group); Series 2008, Ref. RB
    5.50 %     10/01/22       1,100       1,105,709  
 
Illinois (State of) Finance Authority (Northwestern Memorial Hospital);
                               
 
Series 2009 A, RB (a)
    5.38 %     08/15/24       2,200       2,283,028  
 
Series 2009 A, RB (a)
    5.75 %     08/15/30       1,400       1,419,754  
 
Illinois (State of) Finance Authority (OSF Healthcare System); Series 2007 A, RB
    5.75 %     11/15/37       2,500       2,289,800  
 
Illinois (State of) Finance Authority (Park Place of Elmhurst); Series 2010 D-2, TEMPS RB
    7.00 %     11/15/15       1,600       1,564,928  
 
Illinois (State of) Finance Authority (Riverside Health System); Series 2009, RB
    6.25 %     11/15/35       1,150       1,156,037  
 
Illinois (State of) Finance Authority (Roosevelt University); Series 2007, RB
    5.50 %     04/01/37       1,000       881,730  
 
Illinois (State of) Finance Authority (Rush University Medical Center Obligated Group); Series 2009 A, RB
    7.25 %     11/01/38       1,800       1,901,088  
 
Illinois (State of) Finance Authority (Sherman Health Systems); Series 2007 A, RB
    5.50 %     08/01/37       5,500       4,609,660  
 
Illinois (State of) Metropolitan Pier & Exposition Authority (McCormick Place Expansion);
                               
 
Series 2002 A, Dedicated State Tax RB (INS-NATL) (b)
    5.25 %     06/15/42       6,000       5,441,220  
 
Series 2010 A, Dedicated State Tax RB
    5.50 %     06/15/50       2,100       1,919,904  
 
Illinois (State of) Regional Transportation Authority; Series 1994 B, RB (INS-AMBAC) (b)
    8.00 %     06/01/17       5,000       6,117,600  
 
Illinois (State of) Will-Kankakee Regional Development Authority (Senior Estates Supportive Living); Series 2007, MFH RB (f)
    7.00 %     12/01/42       475       408,443  
 
Railsplitter Tobacco Settlement Authority; Series 2010, Tobacco Settlement RB
    5.50 %     06/01/23       3,025       2,874,022  
 
 
                            74,134,969  
 
Indiana—2.30%
                               
Allen (County of) Juvenile Justice Center Building Corp.; Series 2001, First Mortgage RB (k)
    5.50 %     01/01/12       1,000       1,019,570  
 
Crown Point (City of) (Wittenberg Village); Series 2009 C-1, TEMPS Economic Development RB
    7.25 %     11/15/14       650       640,855  
 
Indiana (State of) Development Finance Authority; Series 1999, Ref. Exempt Facilities RB (f)
    5.95 %     08/01/30       2,500       2,383,700  
 
Indiana (State of) Finance Authority (Deaconess Hospital Obligated Group); Series 2009 A, Hospital RB
    6.75 %     03/01/39       1,360       1,430,706  
 
Indiana (State of) Finance Authority (Indianapolis Power & Light Company); Series 2009 A, Ref. Environmental Facilities RB
    4.90 %     01/01/16       1,525       1,628,791  
 
Indiana (State of) Health & Educational Facility Financing Authority (Howard Regional Health System); Series 2005, VRD Hospital RB (LOC- Harris N.A.) (h)(i)
    0.16 %     01/01/35       300       300,000  
 
Indiana (State of) Health Facility Financing Authority (Columbus Regional Hospital); Series 1993, Ref. RB (INS-AGM) (b)
    7.00 %     08/15/15       1,525       1,705,301  
 
Vigo (County of) Hospital Authority (Union Hospital, Inc.); Series 2007, Hospital RB (j)
    5.75 %     09/01/42       500       410,585  
 
 
                            9,519,508  
 
See accompanying notes which are an integral part of this schedule.
Invesco Van Kampen Municipal Opportunity Trust

 


 

                                 
                    Principal        
    Interest     Maturity     Amount        
    Rate     Date     (000)     Value  
 
Iowa—0.70%
                               
Des Moines (City of); Series 2000 A, Public Parking System RB (INS-NATL/FGIC) (b)
    5.75 %     06/01/17     $ 1,890     $ 1,896,728  
 
Iowa (State of) Tobacco Settlement Authority; Series 2005 C, Tobacco Settlement Asset-Backed RB
    5.50 %     06/01/42       1,500       987,480  
 
 
                            2,884,208  
 
Kansas—0.72%
                               
Kansas (State of) Development Finance Authority (Adventist Health System); Series 2009, Hospital RB
    5.75 %     11/15/38       2,400       2,414,568  
 
Olathe (City of) (Catholic Care Campus, Inc.); Series 2006 A, Senior Living Facility RB
    6.00 %     11/15/38       675       556,011  
 
 
                            2,970,579  
 
Kentucky—2.34%
                               
Kentucky (State of) Economic Development Finance Authority (Louisville Arena Authority, Inc.); Series 2008 A-1, Sub. RB (INS-AGL) (b)
    5.75 %     12/01/28       1,400       1,440,754  
 
Kentucky (State of) Economic Development Finance Authority (Owensboro Medical Health System, Inc.); Series 2010 A, Hospital Facilities RB
    6.50 %     03/01/45       1,500       1,415,940  
 
Kentucky (State of) Property & Building Commission (No. 93);
                               
 
Series 2009, RB (INS-AGL) (b)
    5.25 %     02/01/24       1,510       1,576,621  
 
Series 2009, RB (INS-AGL) (b)
    5.25 %     02/01/25       1,710       1,767,969  
 
Louisville/Jefferson (County of) Metropolitan Government (Norton Healthcare, Inc.); Series 2006, Health System RB
    5.25 %     10/01/36       4,000       3,473,200  
 
 
                            9,674,484  
 
Louisiana—3.71%
                               
East Baton Rouge (Parish of) (Exxon Corp.); Series 1993, Ref. VRD PCR (h)
    2.79 %     03/01/22       5,500       5,500,000  
 
Lakeshore Villages Master Community Development District; Series 2007, Special Assessment RB (e)
    5.25 %     07/01/17       989       526,375  
 
Louisiana (State of) Citizens Property Insurance Corp.; Series 2009 C-2, Assessment RB (INS-AGL) (b)
    6.75 %     06/01/26       1,900       2,132,579  
 
Louisiana (State of) Energy & Power Authority; Series 2000, Ref. Power Project RB (INS-AGM) (b)
    5.75 %     01/01/12       3,000       3,141,720  
 
Louisiana (State of) Public Facilities Authority (Entergy Louisiana LLC); Series 2010, RB
    5.00 %     06/01/30       1,050       969,098  
 
Louisiana (State of) Rapides Finance Authority (Cleco Power LLC); Series 2007, RB (c)(d)(f)
    5.25 %     03/01/13       1,850       1,930,734  
 
St. John the Baptist (Parish of) (Marathon Oil Corp.); Series 2007 A, RB
    5.13 %     06/01/37       1,200       1,114,116  
 
 
                            15,314,622  
 
Maryland—0.92%
                               
Maryland (State of) Economic Development Corp. (Terminal); Series 2010 B, RB
    5.75 %     06/01/35       940       869,396  
 
Maryland (State of) Economic Development Corp. (Transportation Facilities); Series 2010 A, Economic Development RB
    5.38 %     06/01/25       665       640,189  
 
Maryland (State of) Health & Higher Educational Facilities Authority (Mercy Medical Center); Series 2007 A, RB
    5.50 %     07/01/42       1,915       1,657,490  
 
Prince George’s (County of) (National Harbor); Series 2004, Special Obligation RB
    5.20 %     07/01/34       750       618,690  
 
 
                            3,785,765  
 
Massachusetts—2.68%
                               
Massachusetts (State of) Bay Transportation Authority; Series 1993 A, Ref. General Transportation System RB
    5.50 %     03/01/12       1,895       1,998,922  
 
Massachusetts (State of) Development Finance Agency (Linden Ponds Inc.);
                               
 
Series 2007 A, RB
    5.75 %     11/15/35       400       276,116  
 
Series 2007 A, RB
    5.75 %     11/15/42       475       312,711  
 
Massachusetts (State of) Development Finance Agency (SEAMASS System); Series 2001 A, Resource Recovery RB (INS-NATL) (b)
    5.63 %     01/01/16       3,000       3,068,310  
 
Massachusetts (State of) Development Finance Agency; Series 2009 B-2, Senior Living Facility RB
    6.25 %     06/01/14       1,365       1,345,371  
 
Massachusetts (State of) Health & Educational Facilities Authority (Berklee College of Music); Series 2007 A, RB
    5.00 %     10/01/32       1,650       1,564,167  
 
Massachusetts (State of) Health & Educational Facilities Authority (Capital Asset Program); Series 1985 E, VRD RB (LOC-Fleet National Bank) (h)(i)
    0.15 %     01/01/35       1,000       1,000,000  
 
See accompanying notes which are an integral part of this schedule.
Invesco Van Kampen Municipal Opportunity Trust

 


 

                                 
                    Principal        
    Interest     Maturity     Amount        
    Rate     Date     (000)     Value  
 
Massachusetts—(continued)
                               
Massachusetts (State of) Health & Educational Facilities Authority (Partner HealthCare System); Series 2001 C, RB (k)
    5.75 %     07/01/11     $ 965     $ 996,498  
 
Massachusetts (State of) Health & Educational Facilities Authority (Saint Memorial Medical Center); Series 1993 A, RB
    6.00 %     10/01/23       640       509,242  
 
 
                            11,071,337  
 
Michigan—1.55%
                               
Detroit (City of);
                               
 
Series 2001 C-1, Ref. Sewage Disposal System Sr. Lien RB (INS-AGM) (b)
    7.00 %     07/01/27       2,100       2,350,341  
 
Series 2006 C, Ref. Water Supply System Second Lien RB (INS-AGM) (b)
    5.00 %     07/01/26       1,000       936,570  
 
Eastern Michigan University Board of Regents; Series 2009 B, Ref. VRD General RB (LOC-JPMorgan Chase Bank, N.A.) (h)(i)
    0.17 %     03/01/49       1,800       1,800,000  
 
Michigan (State of) Kent Hospital Finance Authority (Spectrum Health System);
                               
 
Series 2008 A, RB (c)(d)
    5.25 %     01/15/14       800       869,848  
 
Series 2008 A, RB (c)(d)
    5.50 %     01/15/15       400       444,764  
 
 
                            6,401,523  
 
Minnesota—0.84%
                               
Chaska (City of); Series 2000 A, Electric RB
    6.10 %     10/01/30       10       10,005  
 
Chisago (City of) (CDL Homes LLC); Series 2007, Health Care Facilities RB
    6.00 %     08/01/42       425       371,718  
 
Minneapolis (City of) (Fairview Health Services);
                               
 
Series 2008 A, Healthcare System RB
    6.38 %     11/15/23       1,700       1,851,402  
 
Series 2008 A, Healthcare System RB
    6.63 %     11/15/28       1,150       1,224,210  
 
 
                            3,457,335  
 
Mississippi—0.36%
                               
Mississippi (State of) Business Finance Corp. (Chevron U.S.A. Inc.);
                               
 
Series 2007 B, VRD Gulf Opportunity Zone IDR (h)
    0.38 %     12/01/30       1,000       1,000,000  
 
Series 2007 C, VRD Gulf Opportunity Zone IDR (h)
    0.45 %     12/01/30       500       500,000  
 
 
                            1,500,000  
 
Missouri—2.11%
                               
Cape Girardeau (County of) Industrial Development Authority (Southeast Missouri Hospital Association  );
                               
 
Series 2002, Healthcare Facilities RB (k)
    5.50 %     06/01/12       1,800       1,913,904  
 
Series 2002, Healthcare Facilities RB
    5.50 %     06/01/22       350       347,410  
 
Kirkwood (City of) Industrial Development Authority (Aberdeen Heights); Series 2010 C-1, TEMPS Retirement Community IDR
    7.50 %     11/15/16       1,500       1,508,685  
 
Maryland Heights (City of) (South Heights Redevelopment); Series 2007 A, Ref. Tax Allocation RB
    5.50 %     09/01/18       730       681,404  
 
Missouri (State of) Health & Educational Facilities Authority (Senior Living Facilities-Lutheran);
                               
 
Series 2005 A, Sr. RB
    5.38 %     02/01/35       1,375       1,221,770  
 
Series 2010, RB
    5.50 %     02/01/42       950       838,821  
 
St. Louis (City of) Industrial Development Authority (Loughborough Commons Redevelopment); Series 2007, Ref. Tax Allocation RB
    5.75 %     11/01/27       575       502,631  
 
St. Louis (County of) Industrial Development Authority (St. Andrew’s Resources for Seniors);
                               
 
Series 2007 A, Senior Living Facilities RB
    6.38 %     12/01/30       615       520,487  
 
Series 2007 A, Senior Living Facilities RB
    6.38 %     12/01/41       1,450       1,174,152  
 
 
                            8,709,264  
 
Nebraska—0.07%
                               
Nebraska (State of) Educational Finance Authority (Creighton University); Series 2005 B, Ref. VRD RB (h)
    0.23 %     12/15/12       300       300,000  
 
Nevada—2.20%
                               
Clark (County of) (Southwest Gas Corp.); Series 2004 A, IDR (INS-AMBAC) (b)(f)
    5.25 %     07/01/34       6,000       5,388,960  
 
Reno (City of) (Renown Regional Medical Center); Series 2007 A, Hospital RB
    5.25 %     06/01/37       4,250       3,709,017  
 
 
                            9,097,977  
 
See accompanying notes which are an integral part of this schedule.
Invesco Van Kampen Municipal Opportunity Trust

 


 

                                 
                    Principal        
    Interest     Maturity     Amount        
    Rate     Date     (000)     Value  
 
New Hampshire—0.50%
                               
New Hampshire (State of) Business Finance Authority (Pennichuck Water Works, Inc.); Series 1997, Water Facility RB (INS-AMBAC) (b)(f)
    6.30 %     05/01/22     $ 850     $ 850,782  
 
New Hampshire (State of) Business Finance Authority (United Illuminating Co.);
                               
 
Series 2009, PCR (c)(d)(f)
    7.13 %     02/01/12       675       702,648  
 
Series 2009 A, Ref. PCR (c)(d)(f)
    6.88 %     02/01/12       480       500,419  
 
 
                            2,053,849  
 
New Jersey—9.84%
                               
New Jersey (State of) Economic Development Authority (Provident Group-Montclair Properties LLC — Montclair State University Student Housing); Series 2010 A, RB
    5.88 %     06/01/42       1,500       1,358,430  
 
New Jersey (State of) Economic Development Authority; Series 1992, RB (INS-NATL) (b)
    5.90 %     03/15/21       30,000       34,165,800  
 
New Jersey (State of) Health Care Facilities Financing Authority (Saint. Peter’s University Hospital Obligation); Series 2007, RB
    5.75 %     07/01/37       1,350       1,211,963  
 
Tobacco Settlement Financing Corp.; Series 2007 1A, RB
    5.00 %     06/01/41       6,485       3,925,435  
 
 
                            40,661,628  
 
New Mexico—1.04%
                               
Farmington (City of) (Public Service Co. of New Mexico San Juan); Series 2010 C, Ref. PCR
    5.90 %     06/01/40       1,900       1,793,885  
 
New Mexico (State of) Hospital Equipment Loan Council (Presbyterian Health Care Services); Series 2008 A, Hospital RB (a)
    6.38 %     08/01/32       1,250       1,311,013  
 
University of New Mexico (The Regents of); Series 2002 A, Sub. Lien RB
    5.25 %     06/01/21       1,125       1,175,850  
 
 
                            4,280,748  
 
New York—9.93%
                               
Brooklyn (City of) Arena Local Development Corp. (Barclays Center);
                               
 
Series 2009, RB
    6.25 %     07/15/40       1,270       1,239,914  
 
Series 2009, RB
    6.38 %     07/15/43       530       519,379  
 
New York (City of) Industrial Development Agency (7 World Trade Center, LLC); Series 2005 B, Liberty RB
    6.75 %     03/01/15       2,000       2,001,080  
 
New York (City of) Industrial Development Agency (YMCA of Greater New York); Series 1997, Civic Facility RB
    5.80 %     08/01/16       975       976,833  
 
New York (City of) Transitional Finance Authority; Series 2009 S-3, Building Aid RB
    5.25 %     01/15/39       1,800       1,801,692  
 
New York (City of); Series 2008 I-1, Unlimited Tax GO Bonds (a)
    5.00 %     02/01/26       5,500       5,572,930  
 
New York (State of) Dormitory Authority (City University System Consolidated);
                               
 
Series 1993 A, RB
    5.75 %     07/01/13       2,005       2,113,932  
 
Series 1995 A, RB
    5.63 %     07/01/16       3,100       3,375,776  
 
New York (State of) Dormitory Authority (Upstate Community Colleges); Series 2004 B, RB
    5.25 %     07/01/20       1,500       1,570,980  
 
New York (State of) Dormitory Authority; Series 1990 B, RB
    7.50 %     05/15/11       590       601,835  
 
New York (State of) Thruway Authority;
                               
 
Series 2009 A, Personal Income Tax RB (a)
    5.00 %     03/15/26       1,700       1,754,281  
 
Series 2009 A, Personal Income Tax RB (a)
    5.00 %     03/15/27       1,900       1,950,274  
 
Series 2009 A, Personal Income Tax RB (a)
    5.00 %     03/15/28       1,000       1,019,670  
 
Port Authority of New York & New Jersey (Consolidated One Hundred Forty-Fourth); Series 2006, RB (a)
    5.00 %     10/01/35       15,000       14,655,900  
 
Port Authority of New York & New Jersey (JFK International Air Terminal, LLC); Series 2010, Special Obligation RB
    6.00 %     12/01/36       1,950       1,882,393  
 
 
                            41,036,869  
 
North Carolina—5.72%
                               
North Carolina (State of) Medical Care Commission (Southminister); Series 2007 A, First Mortgage Retirement Facilities RB
    5.75 %     10/01/37       705       584,325  
 
North Carolina (State of) Municipal Power Agency No. 1 (Indexed Caps); Series 1992, Electric RB (INS-NATL) (b)
    6.00 %     01/01/12       22,000       23,050,940  
 
 
                            23,635,265  
 
North Dakota—0.22%
                               
McLean (County of) (Great River Energy); Series 2010 B, Solid Waste Facilities RB
    5.15 %     07/01/40       1,000       903,530  
 
See accompanying notes which are an integral part of this schedule.
Invesco Van Kampen Municipal Opportunity Trust

 


 

                                 
                    Principal        
    Interest     Maturity     Amount        
    Rate     Date     (000)     Value  
 
Ohio—6.95%
                               
Cuyahoga (County of) (Eliza Jennings Senior Care Network); Series 2007 A, Health Care & Independent Living Facilities RB
    5.75 %     05/15/27     $ 400     $ 345,708  
 
Lorain (County of) (Catholic Healthcare Partners);
                               
 
Series 2002, Hospital RB
    5.38 %     10/01/30       500       474,660  
 
Series 2003 C-1, Ref. Hospital RB (INS-AGM) (a)(b)
    5.00 %     04/01/24       3,000       2,985,480  
 
Series 2006 A, Hospital RB (INS-AGM) (a)(b)
    5.00 %     02/01/24       2,750       2,737,790  
 
Series 2006 B, Hospital RB (INS-AGM) (a)(b)
    5.00 %     02/01/24       2,775       2,762,679  
 
Montgomery (County of) (Catholic Health); Series 2006 C-1, RB (INS-AGM) (a)(b)
    5.00 %     10/01/41       1,625       1,468,513  
 
Montgomery (County of) (Miami Valley Hospital);
                               
 
Series 2009 A, RB
    6.00 %     11/15/28       1,475       1,507,848  
 
Series 2009 A, RB
    6.25 %     11/15/39       925       944,231  
 
Ohio (State of) Air Quality Development Authority (FirstEnergy Generation Corp.);
                               
 
Series 2006, Ref. PCR (c)(d)
    2.25 %     06/03/13       3,000       2,954,820  
 
Series 2009 C, Ref. PCR
    5.63 %     06/01/18       2,600       2,737,826  
 
Ohio (State of) Air Quality Development Authority (Ohio Power Co. Galvin); Series 2010 A, Ref. RB (c)(d)(f)
    2.88 %     08/01/14       2,000       1,980,460  
 
Ohio (State of) Higher Educational Facility Commission (Summa Health System 2010); Series 2010, Hospital Facilities RB
    5.75 %     11/15/35       1,480       1,347,422  
 
Ohio (State of) Higher Educational Facility Commission (University Hospitals Health System, Inc.); Series 2009 A, RB
    6.75 %     01/15/39       1,900       1,946,094  
 
Ohio (State of) Housing Finance Agency (Mortgage-Backed Securities Program);
                               
 
Series 2008 D, Residential Mortgage RB (INS-GNMA/FNMA/FHLMC) (a)(b)(f)
    5.30 %     09/01/28       928       923,759  
 
Series 2008 D, Residential Mortgage RB (INS-GNMA/FNMA/FHLMC) (a)(b)(f)
    5.40 %     03/01/33       791       776,952  
 
Series 2008 F, Residential Mortgage RB (INS-GNMA/FNMA/FHLMC) (a)(b)
    5.50 %     09/01/39       1,782       1,799,588  
 
Ohio (State of) Water Development Authority (FirstEnergy Nuclear Generation Corp.); Series 2009 A, Ref. PCR (c)(d)
    5.88 %     06/01/16       950       1,014,410  
 
 
                            28,708,240  
 
Oklahoma—0.85%
                               
Chickasaw (City of) Nation; Series 2007, Health System RB (j)
    6.25 %     12/01/32       1,375       1,390,111  
 
McAlester Public Works Authority; Series 2002, Utility System RB (INS-AGM) (b)(g)
    0.00 %     02/01/34       3,970       1,132,165  
 
Tulsa (County of) Industrial Authority (Montereau, Inc); Series 2010 A, Senior Living Community RB
    7.13 %     11/01/30       1,000       975,870  
 
 
                            3,498,146  
 
Pennsylvania—3.21%
                               
Delaware River Port Authority; Series 2010 D, RB
    5.00 %     01/01/35       950       914,061  
 
Franklin (County of) Industrial Development Authority (Chambersburg Hospital); Series 2010, RB
    5.38 %     07/01/42       1,800       1,613,754  
 
Pennsylvania (State of) Turnpike Commission;
                               
 
Series 2010 B2, Sub. RB (g)(m)
    5.75 %     12/01/28       2,100       1,544,907  
 
Series 2010 B2, Sub. RB (g)(m)
    6.00 %     12/01/34       1,300       965,835  
 
Susquehanna Area Regional Airport Authority;
                               
 
Series 2003 A, Airport System RB (INS-AMBAC) (b)(f)
    5.38 %     01/01/21       3,000       2,963,580  
 
Series 2003 A, Airport System RB (INS-AMBAC) (b)(f)
    5.38 %     01/01/22       5,415       5,249,626  
 
 
                            13,251,763  
 
Puerto Rico—3.22%
                               
Puerto Rico (Commonwealth of) Electric Power Authority;
                               
 
Series 2010 CCC, Power RB
    5.25 %     07/01/27       2,100       2,028,201  
 
Series 2010 XX, Power RB
    5.25 %     07/01/40       1,900       1,673,311  
 
Puerto Rico (Commonwealth of) Sales Tax Financing Corp.;
                               
 
Series 2009 A, First Sub. Sales Tax RB (c)(d)(k)
    5.00 %     08/01/11       2,675       2,737,381  
 
Series 2010 A, First Sub. Sales Tax RB
    5.38 %     08/01/39       1,900       1,750,907  
 
Series 2010 A, First Sub. Sales Tax RB
    5.50 %     08/01/42       2,100       1,954,974  
 
Series 2010 C, First Sub. Sales Tax RB
    5.25 %     08/01/41       3,500       3,143,560  
 
 
                            13,288,334  
 
See accompanying notes which are an integral part of this schedule.
Invesco Van Kampen Municipal Opportunity Trust

 


 

                                 
                    Principal        
    Interest     Maturity     Amount        
    Rate     Date     (000)     Value  
 
South Carolina—5.02%
                               
Charleston (County of) Educational Excellence Finance Corp. (Charleston County School District);
                               
 
Series 2005, RB (a)
    5.25 %     12/01/25     $ 2,500     $ 2,533,850  
 
Series 2005, RB (a)
    5.25 %     12/01/26       7,500       7,556,700  
 
South Carolina (State of) Jobs-Economic Development Authority (Electric & Gas Co.);
                               
 
Series 2002 A, IDR (INS-AMBAC) (b)
    5.20 %     11/01/27       5,000       5,002,900  
 
Series 2002 B, IDR (INS-AMBAC) (b)(f)
    5.45 %     11/01/32       3,750       3,400,425  
 
South Carolina (State of) Jobs-Economic Development Authority (Palmetto Health Alliance); Series 2003 A, Ref. Hospital Facilities RB
    6.25 %     08/01/31       1,840       1,851,794  
 
South Carolina (State of) Jobs-Economic Development Authority (Woodlands at Furman); Series 2007 A, RB
    6.00 %     11/15/27       725       413,584  
 
 
                            20,759,253  
 
Tennessee—1.72%
                               
Chattanooga (City of) Health Educational & Housing Facility Board (CDFI Phase I, LLC); Series 2005 A, Ref. Sr. RB
    5.13 %     10/01/35       1,750       1,408,680  
 
Elizabethton (City of) Health & Educational Facilities Board; Series 2000 B, Ref. & Improvement First Mortgage RB (k)
    8.00 %     07/01/12       2,000       2,221,600  
 
Johnson City (City of) Health & Educational Facilities Board; Series 2000 A, Ref. First Mortgage MTN Hospital RB (k)
    7.50 %     07/01/12       1,000       1,104,160  
 
Shelby (County of) Health Educational & Housing Facilities Board; Series 2004 B, RB (INS-AGM) (a)(b)
    5.25 %     09/01/27       2,400       2,380,224  
 
 
                            7,114,664  
 
Texas—24.35%
                               
Alliance Airport Authority, Inc. (Federal Express Corp.); Series 2006, Ref. Special Facilities RB (f)
    4.85 %     04/01/21       1,450       1,409,994  
 
Dallas (City of) Civic Center Convention Complex;
                               
 
Series 2009, Ref. & Improvement RB (INS-AGL) (b)
    5.00 %     08/15/18       1,150       1,223,497  
 
Series 2009, Ref. & Improvement RB (INS-AGL) (b)
    5.00 %     08/15/19       1,350       1,418,890  
 
Dallas (County of) Flood Control District No. 1; Series 2002, Ref. Unlimited Tax GO Bonds
    6.75 %     04/01/16       615       649,200  
 
Dallas-Fort Worth (Cities of) International Airport Facilities Improvement Corp.;
                               
 
Series 2000 A, Joint Airport RB (INS-NATL/FGIC) (b)(f)
    5.75 %     11/01/30       4,000       4,001,400  
 
Series 2001 A, Ref. & Improvement Airport RB (INS-BHAC/FGIC) (b)(f)
    5.50 %     11/01/31       5,500       5,253,985  
 
Series 2002 C, Joint Airport RB (INS-NATL) (b)(f)
    5.75 %     11/01/18       650       652,145  
 
Series 2002 C, Joint Airport RB (INS-NATL) (b)(f)
    6.00 %     11/01/23       1,225       1,229,288  
 
Series 2003 A, Joint Airport RB (INS-AGM) (b)(f)
    5.50 %     11/01/21       8,000       8,242,320  
 
El Paso (County of) Hospital District; Series 2008 A, Limited Tax GO Bonds (INS-AGL) (a)(b)
    5.00 %     08/15/37       4,850       4,600,904  
 
Harris (County of) (Toll Road); Series 2009 A, Sr. Lien RB (a)
    5.00 %     08/15/32       1,930       1,893,774  
 
Harris (County of) Health Facilities Development Corp. (Memorial Hermann Healthcare System);
                               
 
Series 2001 A, Hospital RB (k)
    6.38 %     06/01/11       2,000       2,059,860  
 
Series 2008 B, Ref. Hospital RB
    7.25 %     12/01/35       750       807,825  
 
Harris (County of) Industrial Development Corp. (Deer Park Refining Limited Partnership); Series 2006, Solid Waste Disposal RB
    5.00 %     02/01/23       950       931,703  
 
Houston (City of);
                               
 
Series 2000 A, Sub. Lien Airport System RB (INS-AGM) (b)(f)
    5.63 %     07/01/30       3,000       2,910,270  
 
Series 2002, Airport System Sub. Lien RB (INS-AGM) (b)
    5.50 %     07/01/20       2,000       2,108,500  
 
Series 2002 A, Airport System Sub. Lien RB (INS-AGM) (b)(f)
    5.13 %     07/01/32       10,000       9,103,600  
 
Series 2007 A, Ref. Utility System RB (INS-AGM) (a)(b)
    5.00 %     11/15/36       7,825       7,663,336  
 
Judson Independent School District (School Building); Series 2008, Unlimited Tax GO Bonds (INS-AGL) (a)(b)
    5.00 %     02/01/37       3,030       2,908,709  
 
Lower Colorado River Authority; Series 2010 A, Ref. RB
    5.00 %     05/15/40       1,500       1,379,115  
 
Lufkin (City of) Health Facilities Development Corp. (Memorial Health System of East Texas); Series 2007, Health System RB
    5.50 %     02/15/37       1,250       1,019,113  
 
Matagorda (County of) Navigation District No. 1 (CenterPoint Energy Houston Electric, LLC); Series 2004, Ref. Collateralized RB (c)
    5.60 %     03/01/27       1,000       968,550  
 
McLennan (County of) Public Facility Corp.; Series 2009, RB
    6.63 %     06/01/35       1,125       1,180,125  
 
See accompanying notes which are an integral part of this schedule.
Invesco Van Kampen Municipal Opportunity Trust

 


 

                                 
                    Principal        
    Interest     Maturity     Amount        
    Rate     Date     (000)     Value  
 
Texas—(continued)
                               
North Central Texas Health Facility Development Corp. (Children’s Medical Center of Dallas); Series 2002, RB (INS-AMBAC) (b)
    5.25 %     08/15/32     $ 5,900     $ 5,678,986  
 
North Texas Tollway Authority;
                               
 
Series 2008 B, Ref. First Tier System RB
    5.63 %     01/01/28       1,000       1,009,920  
 
Series 2008 B, Ref. First Tier System RB
    6.00 %     01/01/26       1,000       1,033,610  
 
Series 2008 B, Ref. First Tier System RB
    6.00 %     01/01/27       1,000       1,031,290  
 
Series 2008 F, Ref. Second Tier System RB
    5.75 %     01/01/33       2,650       2,504,912  
 
Series 2008 L-2, Ref. First Tier System RB (c)(d)
    6.00 %     01/01/13       1,350       1,455,664  
 
Tarrant (County of) Cultural Education Facilities Finance Corp. (Buckingham Senior Living Community, Inc.);
                               
 
Series 2007, Retirement Facility RB
    5.63 %     11/15/27       1,000       868,890  
 
Series 2007, Retirement Facility RB
    5.75 %     11/15/37       2,600       2,151,864  
 
Tarrant (County of) Cultural Education Facilities Finance Corp. (Buckner Retirement Services, Inc.); Series 2007, Retirement Facility RB
    5.25 %     11/15/37       4,000       3,487,360  
 
Tarrant (County of) Cultural Education Facilities Finance Corp. (C.C. Young Memorial Home);
                               
 
Series 2007, Retirement Facility RB
    5.75 %     02/15/25       400       342,020  
 
Series 2009 B-2, Retirement Facility RB
    6.50 %     02/15/14       1,150       1,140,628  
 
Tarrant (County of) Cultural Education Facilities Finance Corp. (CHRISTUS Health); Series 2008 A, Ref. RB (INS-AGL) (b)
    6.25 %     07/01/28       3,000       3,075,930  
 
Texas (State of) (Transportation Commission — Mobility Fund); Series 2008, Unlimited Tax GO Bonds (a)
    5.00 %     04/01/28       5,400       5,521,986  
 
Texas (State of) Gulf Coast Waste Disposal Authority (Waste Management); Series 2006 D, RB (f)
    4.55 %     04/01/12       1,000       1,009,230  
 
Texas (State of) Private Activity Surface Transportation Corp. (North Transit Express Mobility); Series 2009, Sr. Lien RB
    6.88 %     12/31/39       1,430       1,432,245  
 
Texas A&M University Board of Regents; Series 2009 A, Financing System RB
    5.00 %     05/15/29       3,000       3,051,720  
 
Tyler (City of) Health Facilities Development Corp. (East Texas Medical Center Regional Healthcare System); Series 2007 A, Ref. & Improvement Hospital RB
    5.38 %     11/01/37       2,750       2,195,930  
 
 
                            100,608,288  
 
Utah—0.66%
                               
Utah (State of) Charter School Finance Authority (Summit Academy); Series 2007 A, Charter School RB
    5.80 %     06/15/38       730       581,569  
 
Utah (State of) Mountain Regional Water Special Service District; Series 2003, Ref. Water RB (INS-NATL) (b)
    5.00 %     12/15/33       2,380       2,134,789  
 
 
                            2,716,358  
 
Virgin Islands—0.40%
                               
Virgin Islands Public Finance Authority (Matching Fund Loan Note); Series 2010 A, Sr. Lien Working Capital RB
    5.00 %     10/01/25       1,700       1,639,922  
 
Virginia—0.50%
                               
Peninsula Town Center Community Development Authority; Series 2007, Special Obligations RB
    6.35 %     09/01/28       743       670,944  
 
White Oak Village Shops Community Development Authority; Series 2007, Special Assessment RB
    5.30 %     03/01/17       1,401       1,393,028  
 
 
                            2,063,972  
 
Washington—6.55%
                               
Bellevue (City of) Convention Center Authority (Compound Interest); Series 1994, Ref. Special Obligation RB (INS-NATL) (b)
    0.00 %     02/01/25       9,850       4,657,572  
 
Chelan (County of) Public Utility District No 1 (Hydro); Series 2001, Consolidated RB (INS-BHAC/NATL) (a)(b)(c)(f)
    5.60 %     01/01/36       7,500       7,221,975  
 
Energy Northwest (Columbia Generating Station); Series 2001 A, Ref. Electric RB (INS-AGM) (b)
    5.50 %     07/01/16       5,000       5,145,700  
 
Energy Northwest (Washington State Public Power Supply System Nuclear); Series 1993 C, RB (INS-NATL/IBC) (b)
    0.00 %     07/01/14       5,125       4,788,134  
 
Kalispel Tribe Indians; Series 2008, Priority District Washington RB
    6.63 %     01/01/28       1,250       1,076,538  
 
Spokane (City of) Public Facilities District; Series 2003, RB (INS-NATL) (b)
    5.25 %     09/01/33       3,000       2,877,330  
 
See accompanying notes which are an integral part of this schedule.
Invesco Van Kampen Municipal Opportunity Trust

 


 

                                 
                    Principal        
    Interest     Maturity     Amount        
    Rate     Date     (000)     Value  
 
Washington—(continued)
                               
Washington (State of) Housing Finance Commission (Custodial Receipts Wesley Homes); Series 2008, Non-Profit RB (j)
    6.00 %     01/01/27     $ 1,440     $ 1,302,998  
 
 
                            27,070,247  
 
West Virginia—1.20%
                               
Ohio (County of) (Fort Henry Centre Financing District); Series 2007 A, Tax Allocation RB
    5.85 %     06/01/34       500       419,755  
 
Pleasants (County of) (County Commission Allegheny); Series 2007 F, Ref. PCR
    5.25 %     10/15/37       855       739,609  
 
West Virginia (State of) Hospital Finance Authority (Thomas Health System, Inc.);
                               
 
Series 2008, Hospital RB
    6.00 %     10/01/20       1,000       971,390  
 
Series 2008, Hospital RB
    6.25 %     10/01/23       1,025       967,969  
 
West Virginia (State of) Hospital Finance Authority (West Virginia United Health System Obligated Group);
                               
 
Series 2009 C, Ref. & Improvement Hospital RB
    5.50 %     06/01/34       1,000       955,660  
 
Series 2009 C, Ref. & Improvement Hospital RB
    5.50 %     06/01/39       955       896,401  
 
 
                            4,950,784  
 
Wisconsin—2.61%
                               
Southeast Wisconsin Professional Baseball Park District; Series 1998 A, Ref. Sales Tax RB (k)
    5.50 %     12/15/20       1,500       1,714,860  
 
Superior (City of) (Superior Water, Light & Power Company);
                               
 
Series 2007 A, Ref. Collateralized Utility RB (f)
    5.38 %     11/01/21       425       425,081  
 
Series 2007 B, Collateralized Utility RB (f)
    5.75 %     11/01/37       385       358,212  
 
Wisconsin (State of) Health & Educational Facilities Authority (Aurora Health Care, Inc.); Series 2009 B, RB (c)(d)
    4.75 %     08/15/14       1,000       1,052,140  
 
Wisconsin (State of) Health & Educational Facilities Authority (Prohealth Care, Inc. Obligated Group); Series 2009, RB
    6.63 %     02/15/39       1,270       1,320,813  
 
Wisconsin (State of) Housing & Economic Development Authority;
                               
 
Series 2008 A, Home Ownership RB (a)(f)
    5.30 %     09/01/23       2,400       2,442,552  
 
Series 2008 A, Home Ownership RB (a)(f)
    5.50 %     09/01/28       2,455       2,461,579  
 
Wisconsin (State of); Series 2009 A, General Appropriation RB
    5.38 %     05/01/25       950       995,476  
 
 
                            10,770,713  
 
Wyoming—0.27%
                               
Sweetwater (County of) (Idaho Power Co.); Series 2006, Ref. PCR
    5.25 %     07/15/26       1,100       1,117,391  
 
TOTAL INVESTMENTS(n)—175.77% (Cost $750,057,996)
                            726,100,238  
 
FLOATING RATE NOTE AND DEALER TRUST OBLIGATIONS RELATED TO SECURITIES HELD(o)—(24.65)%
                               
 
Notes with interest rates ranging from 0.29% to 0.44% at 01/31/11 and contractual maturities of collateral ranging from 09/01/23 to 10/01/41 (See Note 1D)
                      (101,835,000 )
 
PREFERRED SHARES—(53.50)%
                            (221,000,000 )
 
OTHER ASSETS LESS LIABILITIES—2.38%
                            9,844,569  
 
NET ASSETS APPLICABLE TO COMMON SHARES—100.00%
                          $ 413,109,807  
 
     
Investment Abbreviations:
 
ACA
  — ACA Financial Guaranty Corp.
AGC
  — Assured Guaranty Corp.
AGL
  — Assured Guaranty Ltd.
AGM
  — Assured Guaranty Municipal Corp.
AMBAC
  — American Municipal Bond Assurance Corp.*
BHAC
  — Berkshire Hathaway Assurance Corp.
COP
  — Certificates of Participation
FGIC
  — Financial Guaranty Insurance Co.
FHA
  — Federal Housing Administration
FHLMC
  — Federal Home Loan Mortgage Corp.
FNMA
  — Federal National Mortgage Association
GNMA
  — Government National Mortgage Association
See accompanying notes which are an integral part of this schedule.
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GO
  — General Obligation
IBC
  — International Bancshares Corp.
IDR
  — Industrial Development Revenue Bonds
INS
  — Insurer
LOC
  — Letter of Credit
MFH
  — Multi-Family Housing
MTN
  — Medium-Term Notes
NATL
  — National Public Finance Guarantee Corp.
PCR
  — Pollution Control Revenue Bonds
RB
  — Revenue Bonds
Ref.
  — Refunding
SGI
  — Syncora Guarantee, Inc.
Sr.
  — Senior
Sub.
  — Subordinated
TEMPS
  — Tax-Exempt Mandatory Paydown Securities
VRD
  — Variable Rate Demand
Notes to Schedule of Investments:
(a)   Underlying security related to Special Purpose Trusts entered into by the Trust. See Note 1D.
 
(b)   Principal and/or interest payments are secured by the bond insurance company listed.
 
(c)   Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on January 31, 2011.
 
(d)   Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put.
 
(e)   Defaulted security. Currently, the issuer is partially or fully in default with respect to interest payments. The aggregate value of these securities at January 31, 2011 was $678,438, which represented 0.16% of the Trust’s Net Assets.
 
(f)   Security subject to the alternative minimum tax.
 
(g)   Capital appreciation bond.
 
(h)   Demand security payable upon demand by the Trust at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically. Rate shown is the rate in effect on January 31, 2011.
 
(i)   Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.
 
(j)   Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended. 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 January 31, 2011 was $4,802,451, which represented 1.16% of the Trust’s Net Assets.
 
(k)   Advance refunded.
 
(l)   Advance refunded; secured by an escrow fund of U.S. Government obligations or other highly rated collateral.
 
(m)   Step coupon bond. The interest rate represents the coupon rate at which the bond will accrue at a specified future date.
 
(n)   This table provides a listing of those entities that have either issued, guaranteed, backed or otherwise enhanced the credit quality of more than 5% of the securities held in the portfolio. In instances where the entity has guaranteed, backed or otherwise enhanced the credit quality of a security, it is not primarily responsible for the issuer’s obligations but may be called upon to satisfy the issuer’s obligations.
         
Entities   Percentage  
National Public Finance Guarantee Corp.
    20.68 %
Assured Guaranty Municipal Corp.
    11.83  
American Municipal Bond Assurance Corp.*
    5.77  
See accompanying notes which are an integral part of this schedule.
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(o)   Floating rate note obligations related to securities held. The interest rates shown reflect the rates in effect at January 31, 2011. At January 31, 2011, the Trust’s investments with a value of $168,297,913 are held by Special Purpose Trusts established by a Broker Dealer (“Dealer Trusts”) and serve as collateral for the $101,835,000 in the floating rate note obligations outstanding at that date.
 
*   AMBAC filed for bankruptcy on November 8, 2010.
See accompanying notes which are an integral part of this schedule.
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Notes to Quarterly Schedule of Portfolio Holdings
January 31, 2011
(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, yield, quality, coupon rate, maturity, type of issue, individual trading characteristics and other market data. Short-term obligations, including commercial paper, having 60 days or less to maturity are recorded at amortized cost which approximates value. Securities with a demand feature exercisable within one to seven days are valued at par. Debt securities are subject to interest rate and credit risks. In addition, all debt securities involve some risk of default with respect to interest and principal payments.
     Securities for which market quotations either are not readily available or are 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.
     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 is recorded on the accrual basis from settlement date. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date. Bond premiums and discounts are amortized and/or accreted for financial reporting purposes.
     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 Statement of Changes in Net Assets, or the net investment income per share and 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.   Inverse Floating Rate Obligations — The Trust     may invest in inverse floating rate securities, such as Residual Interest Bonds (“RIBs”) or Tender Option Bonds (“TOBs”) for investment purposes and to enhance the yield of the Trust. Inverse floating rate investments 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
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stable. Such transactions may be purchased in the secondary market without first owning the underlying bond or by the sale of fixed rate bonds by the Trust to Special Purpose Trusts established by a broker dealer (“Dealer Trusts”) in exchange for cash and residual interests in the Dealer Trusts’ assets and cash flows, which are in the form of inverse floating rate obligations. The Dealer Trusts finance the purchases of the fixed rate bonds by issuing floating rate notes to third parties and allowing the Trust to retain residual interest in the bonds. The floating rate notes issued by the Dealer Trusts have interest rates that reset weekly and the floating rate note holders have the option to tender their notes to the Dealer Trusts for redemption at par at each reset date. The residual interests held by the Trust (inverse floating rate investments) 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 Dealer Trusts to the Trust, thereby collapsing the Dealer Trusts.
     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 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 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.
     The Trust accounts for the transfer of bonds to the Dealer 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 and dealer trust obligations on the Statement of Assets and Liabilities. 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 Dealer Trusts under the caption Interest expense on the Statement of Operations.
     The Trust generally invest in inverse floating rate obligations that include embedded leverage, thus exposing the Trust to greater risks and increased costs. The primary risks associated with inverse floating rate obligations are varying degrees of liquidity and the changes in the value of such securities in response to changes in market rates of interest to a greater extent than the value of an equal principal amount of a fixed rate security 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 investments. In certain instances, the short-term floating rate interests created by the special purpose trust may not be able to be sold to third parties or, in the case of holders tendering (or putting) such interests for repayment of principal, may not be able to be remarketed to third parties. In such cases, the special purpose trust holding the long-term fixed rate bonds may be collapsed. In the case of RIBs or TOBs created by the contribution of long-term fixed income bonds by the Trust, the Trust will then be required to repay the principal amount of the tendered securities. During times of market volatility, illiquidity or uncertainty, the Trust could be required to sell other portfolio holdings at a disadvantageous time to raise cash to meet that obligation.
E.   Securities Purchased on a When-Issued and Delayed Delivery Basis — The Trust may purchase and sell interests in portfolio securities on a when-issued and delayed delivery basis, with payment and delivery scheduled for a future date. No income accrues to the Trust on such interests or securities in connection with such transactions prior to the date the Trust actually takes delivery of such interests or securities. These transactions are subject to market fluctuations and are subject to the risk that the value at delivery may be more or less than the trade date purchase price. Although the Trust will generally purchase these securities with the intention of acquiring such securities, they may sell such securities prior to the settlement date.
F.   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 a 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
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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.
 
    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.
     The following is a summary of the tiered valuation input levels, as of January 31, 2011. 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.
     During the three months ended January 31, 2011, there were no significant transfers between investment levels.
                                 
    Level 1     Level 2     Level 3     Total  
 
Municipal Obligations
  $     $ 726,100,238     $     $ 726,100,238  
 
NOTE 3 — Investment Securities
The aggregate amount of investment securities (other than short-term securities, U.S. Treasury obligations and money market funds, if any) purchased and sold by the Trust during the three months ended January 31, 2011 was $10,587,727 and $20,588,236, respectively. Cost of investments on a tax basis includes the adjustments for financial reporting purposes as of the most recently completed Federal income tax reporting period-end.
         
Unrealized Appreciation (Depreciation) of Investment Securities on a Tax Basis  
 
 
Aggregate unrealized appreciation of investment securities
  $ 18,358,637  
 
Aggregate unrealized (depreciation) of investment securities
    (40,976,799 )
 
Net unrealized appreciation (depreciation) of investment securities
  $ (22,618,162 )
 
Cost of investments for tax purposes is $748,718,400.
       
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Item 2. Controls and Procedures.
  (a)   As of March 21, 2011, 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 March 21, 2011, 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 Van Kampen Municipal Opportunity Trust
         
     
By:   /s/ Colin Meadows      
  Colin Meadows     
  Principal Executive Officer     
Date: April 1, 2011
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/ Colin Meadows      
  Colin Meadows     
  Principal Executive Officer     
Date: April 1, 2011
         
     
By:   /s/ Sheri Morris      
  Sheri Morris     
  Principal Financial Officer     
Date: April 1, 2011

 


 

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.