Edgar Filing: VAN KAMPEN MUNICIPAL TRUST

N-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-6362

Van Kampen Municipal Trust

(Exact name of registrant as specified in charter)

522 Fifth Avenue, New York, New York 10036

(Address of principal executive offices) (Zip code)

Edward C. Wood III
522 Fifth Avenue, New York, New York 10036

(Name and address of agent for service)

Registrant’s telephone number, including area code: 212-762-4000

Date of fiscal year end: 10/31

Date of reporting period: 1/31/09

Item 1. Schedule of Investments.

The Trust’s schedule of investments as of the close of the reporting period prepared pursuant to Rule 12-12 of Regulation S-X is as follows:

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited)


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Municipal Bonds 176.2%
		Alabama 4.1%
$	2,150	Bessemer, AL Governmental Util Svc Corp Wtr Supply Rev Rfdg, Ser A (AGL Insd) (a)		5.000	%		06/01/39	$	1,963,563
	1,000	Birmingham Baptist Med Ctr AL Baptist Hlth Sys, Ser A		5.875			11/15/24		848,070
	3,695	Gadsden, AL Wts, Ser B (AMBAC Insd)		5.250			08/01/21		3,958,860
	5,000	Healthcare Auth For Baptist Hlth AL ARS, Ser B (AGL Insd) (b)(c)		4.000			11/15/37		5,000,000
	1,725	Huntsville-Redstone Vlg, AL Spl Care Fac Fin Auth Redstone Vlg Proj		5.500			01/01/43		915,820
	4,000	Jefferson Cnty, AL Swr Rev Cap Impt Wts (FGIC Insd) (Prerefunded @ 8/01/12)		5.125			02/01/42		4,357,760

									17,044,073

		Alaska 0.7%
	1,000	Matanuska-Susitna Boro, AK Ctf Partn Pub Safety Bldg Lease (FSA Insd)		5.750			03/01/16		1,041,100
	3,870	Northern Tob Sec Corp AK Tob Settlement Rev Asset Bkd, Ser A		5.000			06/01/46		2,018,669

									3,059,769

		Arizona 3.9%
	1,425	Arizona Cap Fac Fin Corp Student Hsg Rev AZ St Univ Proj		6.250			09/01/32		1,046,762
	1,700	Arizona St Trans Brd Hwy Rev, Ser B		5.000			07/01/25		1,778,574

Van Kampen Municipal Trust

Portfolio of Investments §January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Arizona (continued)
$	2,545	Arizona St Trans Brd Hwy Rev, Ser B		5.000	%		07/01/26	$	2,638,758
	1,650	Glendale, AZ Indl Dev Auth Rfdg		5.000			12/01/35		1,029,435
	2,000	Goodyear, AZ McDowell Rd Coml Corridor Impt Dist Impt (AMBAC Insd)		5.250			01/01/32		1,679,020
	2,300	Pima Cnty, AZ Indl Dev Auth Wtr & Wastewtr Rev Global Wtr Resh LLC Proj (AMT)		6.550			12/01/37		1,563,793
	2,050	Salt Riv Proj AZ Agric Impt & Pwr Dist Elec Sys Rev, Ser A		5.000			01/01/28		2,078,741
	6,500	University of AZ Med Ctr Corp		5.000			07/01/35		4,686,045

									16,501,128

		California 24.3%
	4,000	Anaheim, CA Pub Fin Auth Lease Rev Cap Apprec Sub Pub Impt Proj, Ser C (FSA Insd)		*			09/01/20		2,169,680
	2,100	Bay Area Govt Assn CA Rev Tax Alloc CA Redev Pool, Ser A (Syncora Gtd)		5.250			09/01/35		1,587,915
	6,000	Bay Area Toll Auth CA Toll Brdg Rev San Francisco Bay Area, Ser F1		5.000			04/01/39		5,721,360
	800	Beverly Hills, CA Uni Sch Dist Cap Apprec 2008 Election (d)		*			08/01/28		257,880
	1,875	California Cnty, CA Tob Sec Agy Tob Asset Bkd Merced Cnty Rfdg, Ser A		5.250			06/01/45		1,027,875
	3,000	California Hsg Fin Agy Rev Home Mtg, Ser G (AMT) (a)		4.950			08/01/23		2,636,820
	2,000	California Hsg Fin Agy Rev Home Mtg, Ser G (AMT) (a)		5.050			02/01/29		1,618,540
	6,000	California Hsg Fin Agy Rev Home Mtg, Ser I (AMT) (a)		4.800			08/01/36		4,366,590

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		California (continued)
$	3,150	California Hsg Fin Agy Rev Home Mtg, Ser K (AMT) (a)		5.300	%		08/01/23	$	2,958,764
	3,700	California Hsg Fin Agy Rev Home Mtg, Ser K (AMT) (a)		5.450			08/01/28		3,296,478
	1,000	California Pollutn Ctl Fin Auth Solid Waste Disp Rev Waste Mgmt Inc Proj, Ser B (AMT)		5.000			07/01/27		706,990
	510	California St (AMBAC Insd)		5.125			10/01/27		509,975
	775	California St Dept Wtr Res Wtr Rev Cent Vly Proj, Ser AE (a)		5.000			12/01/24		815,219
	975	California St Dept Wtr Res Wtr Rev Cent Vly Proj, Ser AE (a)		5.000			12/01/25		1,016,306
	975	California St Dept Wtr Res Wtr Rev Cent Vly Proj, Ser AE (a)		5.000			12/01/26		1,008,018
	575	California St Dept Wtr Res Wtr Rev Cent Vly Proj, Ser AE (a)		5.000			12/01/27		587,446
	975	California St Dept Wtr Res Wtr Rev Cent Vly Proj, Ser AE (a)		5.000			12/01/28		988,743
	1,995	California St Pub Wks Brd UCLA Replacement Hosp, Ser A (FSA Insd)		5.375			10/01/20		2,062,650
	5,000	California St Univ Rev Sys Wide, Ser A (AMBAC Insd)		5.000			11/01/23		5,071,300
	7,565	California St Vet, Ser CD (AMT) (a)		4.600			12/01/32		5,442,337
	2,650	California Statewide Cmnty Dev Auth Ctf Partn (Prerefunded @ 11/01/09) (Acquired 11/23/99, Cost $2,650,000) (e)		7.250			11/01/29		2,831,313
	1,000	California Statewide Cmnty Dev Auth Rev Daughters of Charity Hlth, Ser A		5.250			07/01/30		650,230

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		California (continued)
$	1,000	California Statewide Cmnty Dev Auth Rev Front Porch Cmnty & Svc, Ser A (f)		5.125	%		04/01/37	$	605,040
	1,800	California Statewide Cmnty Dev Auth Rev Hlth Fac Adventist Hlth, Ser A		5.000			03/01/30		1,486,062
	2,500	California Statewide Cmnty Dev Auth Rev Hlth Fac Adventist Hlth, Ser A		5.000			03/01/35		1,975,350
	3,805	California Statewide Cmnty Dev Auth Rev Sutter Hlth, Ser A		5.000			11/15/43		3,098,868
	445	Daly City, CA Hsg Dev Fin Agy Mobile Home Pk Rev Third Tier Franciscan Rfdg, Ser C		6.500			12/15/47		296,432
	27,810	Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Rfdg		*			01/15/33		3,089,691
	18,000	Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Rfdg (MBIA-IBC Insd)		*			01/15/25		4,360,140
	225	Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Sr Lien, Ser A (Prerefunded @ 1/01/10)		7.150			01/01/13		243,083
	10,800	Golden St Tob Sec Corp CA Tob Settlement Rev Asset Bkd Sr, Ser A-1		5.750			06/01/47		6,523,740
	5,000	Golden St Tob Sec Corp CA Tob Settlement Rev Enhanced, Ser A		5.000			06/01/45		3,781,900
	5,000	Golden St Tob Sec Corp CA Tob Settlement Rev Enhanced, Ser A (FGIC Insd)		5.000			06/01/35		4,075,900

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		California (continued)
$	1,000	Hesperia, CA Pub Fin Auth Rev Redev & Hsg Proj, Ser A (Syncora Gtd)		5.000	%		09/01/37	$	784,780
	2,635	Imperial Irr Dist CA Ctf Partn Elec Sys Proj (FSA Insd)		5.250			11/01/23		2,713,418
	2,500	Metropolitan Wtr Dist Southn CA Wtrwks Rev Authorization, Ser A		5.000			01/01/34		2,478,775
	400	Morongo Band of Mission Indians CA Enterprise Rev Indians Enterprise Casino, Ser B (f)		5.500			03/01/18		331,156
	1,000	Palomar Pomerado Hlthcare Dist CA Ctf Partn, Ser B (FSA Insd) (b)(c)		2.490			11/01/36		1,000,000
	550	Palomar Pomerado Hlthcare Dist CA Ctf Partn, Ser C (FSA Insd) (b)(c)		1.000			11/01/36		550,000
	2,350	Quechan Indian Tribe Ft Yuma Indian Reservation CA & Govt Proj		7.000			12/01/27		1,762,782
	1,600	Rancho Mirage, CA Jt Pwr Fin Auth Rev Eisenhower Med Ctr, Ser A		5.000			07/01/47		1,231,696
	1,375	San Bernadino, CA Jt Pwr Fin Auth Alloc Rev Cent City Merged Proj Rfdg, Ser A (AMBAC Insd)		5.750			07/01/20		1,444,891
	1,200	San Francisco, CA City & Cnty Arpt Commn Intl Arpt Rfdg 2nd, Ser A-4 (AMT) (c)		6.500			05/01/19		1,254,732

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		California (continued)
$	1,000	San Joaquin Hills, CA Trans Corridor Agy Toll Rd Rev Cap Apprec Rfdg, Ser A (MBIA Insd)		*			01/15/27	$	247,870
	1,000	San Joaquin Hills, CA Trans Corridor Agy Toll Rd Rev Cap Apprec Rfdg, Ser A (MBIA Insd)		*			01/15/28		228,090
	4,290	Tobacco Sec Auth Northn CA Tob Settlement Rev Asset Bkd, Ser A-1		5.375	%		06/01/38		2,487,256
	3,050	Tobacco Sec Auth Northn CA Tob Settlement Rev Asset Bkd, Ser A-1		5.500			06/01/45		1,747,162
	3,200	Tobacco Sec Auth Southn CA Tob Settlement Sr, Ser A-1		5.000			06/01/37		1,758,688
	8,350	Tobacco Sec Auth Southn CA Tob Settlement Sr, Ser A-1		5.125			06/01/46		4,463,326

									101,353,257

		Colorado 3.6%
	425	Colorado Hlth Fac Auth Hlth & Residential Care Fac Volunteers of Amer Care, Ser A		5.300			07/01/37		225,412
	4,875	Colorado Hlth Fac Auth Rev Catholic Hlth, Ser C-5 (FSA Insd) (a)		5.000			09/01/36		4,245,053
	1,000	Colorado Hlth Fac Auth Rev Evangelical Lutheran, Ser A		5.250			06/01/34		751,330
	3,700	Colorado Hlth Fac Auth Rev Hlth Fac Evangelical Lutheran		5.000			06/01/35		2,655,157
	1,125	Colorado Hlth Fac Auth Rev Hosp Portercare Adventist Hlth (Prerefunded @ 11/15/11)		6.500			11/15/31		1,294,211

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Colorado (continued)
$	1,000	Colorado Hlth Fac Auth Rev Poudre Vly CO Hlth Fac Auth Hosp, Ser A (FSA Insd)		5.200	%		03/01/31	$	888,210
	100	Jefferson Cnty, CO Residential Mtg Rev (g)		9.000			09/01/12		125,668
	300	Jefferson Cnty, CO Residential Mtg Rev (g)		11.500			09/01/09		318,846
	340	Jefferson Cnty, CO Residential Mtg Rev (g)		11.500			09/01/10		395,481
	220	Jefferson Cnty, CO Residential Mtg Rev (g)		11.500			09/01/11		276,133
	985	Montezuma Cnty, CO Hosp Dist Hlth Fac Enterprise Hosp Rfdg (i)		5.900			10/01/37		606,534
	3,085	Platte Riv Pwr Auth CO Pwr Rev, Ser EE		5.375			06/01/16		3,382,980

									15,165,015

		Connecticut 3.2%
	4,225	Connecticut St Hsg Fin Auth Hsg Mtg Fin Pg Sub, Ser B-2 (AMT)		5.100			05/15/38		3,590,320
	2,840	Connecticut St Spl Oblig Pkg Rev Bradley Intl Arpt, Ser A (ACA Insd) (AMT)		6.600			07/01/24		2,127,558
	600	Mashantucket Western Pequot Tribe CT 2006 Sub Spl Rev Bd, Ser A (f)		5.500			09/01/36		361,422
	6,500	Mashantucket Western Pequot Tribe CT Spl Rev, Ser B (f)		5.750			09/01/18		4,992,650
	3,500	Mashantucket Western Pequot Tribe CT Spl Rev, Ser B (f)		5.750			09/01/27		2,333,905

									13,405,855

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		District of Columbia 2.6%
$	775	District Columbia Wtr & Swr Auth Pub Util Rev Sub Lien Rfdg, Ser A (AGL Insd) (a)		5.000	%		10/01/29	$	766,103
	1,575	District Columbia Wtr & Swr Auth Pub Util Rev Sub Lien Rfdg, Ser A (AGL Insd) (a)		5.000			10/01/34		1,517,599
	4,000	District Columbia Wtr & Swr Auth Pub Util Rev Sub Lien, Ser A (FSA Insd)		5.500			10/01/41		4,040,880
	5,000	Metropolitan Washington DC Arpt Auth Sys, Ser A (MBIA Insd) (AMT)		5.125			10/01/26		4,388,350

									10,712,932

		Florida 13.4%
	1,000	Alachua Cnty, FL Indl Dev Rev North FL Retirement Vlg		5.250			11/15/17		782,550
	1,000	Alachua Cnty, FL Indl Dev Rev North FL Retirement Vlg		5.875			11/15/36		597,150
	340	Beacon Lakes, FL Cmnty Dev FL Spl Assmt, Ser A		6.000			05/01/38		208,495
	250	Beacon Lakes, FL Cmnty Dev FL Spl Assmt Sub, Ser B		6.200			05/01/38		150,437
	2,970	Brevard Cnty, FL Hlth Fac Auth Hlthcare Fac Rev Hlth First Inc Proj		5.000			04/01/34		2,087,524
	1,335	Brevard Cnty, FL Hlth Fac Auth Residential Care Fac Rev Buena Vida Estates Inc		6.750			01/01/37		934,500
	3,380	Brevard Cnty, FL Hlth Fac Hlth First Inc Proj (MBIA Insd)		5.125			04/01/31		2,608,583
	400	Capital Tr Agy FL Rev Ft Lauderdale Proj (AMT)		5.750			01/01/32		260,884

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Florida (continued)
$	430	Escambia Cnty, FL Hlth Fac Auth Rev (AMBAC Insd)		5.950	%		07/01/20	$	450,988
	5,000	Florida St Dept Trans Tpk Rev, Ser A (a)		5.000			07/01/29		4,887,275
	1,895	Gulf Breeze, FL Rev Loc Govt (FGIC Insd) (c)		5.625			12/01/20		1,944,441
	865	Highlands, FL Cmnty Dev Dist Spl Assmt		5.550			05/01/36		459,211
	975	Hillsborough Cnty, FL Aviation Auth Rev, Ser A (AGL Insd) (AMT) (a)		5.375			10/01/33		829,384
	2,175	Hillsborough Cnty, FL Aviation Auth Rev, Ser A (AGL Insd) (AMT) (a)		5.500			10/01/38		1,860,158
	2,310	Hillsborough Cnty, FL Indl Dev Auth Indl Dev Rev Hlth Fac Proj Univ Cmnty Hosp, Ser A (Prerefunded @ 8/15/09)		5.500			08/15/14		2,395,378
	800	Hillsborough Cnty, FL Indl Dev Auth Pollutn Ctl Rev Hillsborough Cnty IDA Rfdg (AMBAC Insd) (c)		5.000			12/01/34		809,288
	800	Hillsborough Cnty, FL Indl Dev Auth Pollutn Ctl Rev Tampa Elec, Ser B (c)		5.150			09/01/25		792,664
	3,000	Hillsborough Cnty, FL Solid Waste & Res Recovery Rev, Ser A (BHAC Insd) (AMT)		4.500			09/01/34		2,210,040
	5,000	Lakeland, FL Hosp Sys Rev Lakeland Regl Hlth Sys Rfdg		5.000			11/15/26		3,924,650
	5,000	Lakeland, FL Hosp Sys Rev Lakeland Regl Hlth Sys Rfdg		5.000			11/15/32		3,624,050

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Florida (continued)
$	675	Main Str Cmnty Dev Dist FL Cap Impt Rev, Ser A (Acquired 2/19/08, Cost $675,000) (e)		6.800	%		05/01/38	$	421,180
	425	Main Str Cmnty Dev Dist FL Cap Impt Rev, Ser B (Acquired 2/19/08, Cost $425,000) (e)		6.900			05/01/17		333,217
	1,515	Miami Beach, FL Stormwtr Rev (MBIA Insd)		5.250			09/01/25		1,514,924
	2,000	Miami-Dade Cnty, FL Aviation Rev Miami Intl Arpt (MBIA Insd) (AMT)		5.375			10/01/25		1,745,200
	2,700	Miami-Dade Cnty, FL Aviation Rev Miami Intl Arpt (AGC Insd) (AMT)		5.375			10/01/32		2,312,091
	5,000	Miami-Dade Cnty, FL Aviation, Ser A (FSA Insd) (AMT)		5.125			10/01/35		4,063,850
	645	Midtown Miami, FL Cmnty Dev FL Spl Assmt Rev, Ser A		6.000			05/01/24		452,313
	700	Orange Cnty, FL Hlth Fac Auth Rev First Mtg Orlando Lutheran Tower		5.500			07/01/32		422,261
	930	Orange Cnty, FL Hlth Fac Auth Rev Hlthcare Orlando Lutheran Rfdg		5.375			07/01/20		678,314
	570	Overoaks, FL Cmnty Dev Dist Cap Impt Rev, Ser A		6.125			05/01/35		332,926
	1,100	Palm Beach Cnty, FL Hlth Fac Auth Rev Wtrford Proj		5.875			11/15/37		789,701
	1,400	Port Saint Lucie, FL Spl Assmt Rev Southwest Annexation Dist, Ser 1-B (MBIA Insd)		5.000			07/01/33		1,077,146

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Florida (continued)
$	3,250	Putnam Cnty, FL Dev Auth Pollutn Ctl Rev Rfdg Seminole Proj, Ser A (AMBAC Insd) (c)		5.350	%		03/15/42	$	3,352,602
	595	Reunion East Cmnty Dev Dist FL Spl Assmt		5.800			05/01/36		299,112
	400	Seminole Tribe, FL Spl Oblig Rev, Ser A (f)		5.250			10/01/27		265,604
	500	Seminole Tribe, FL Spl Oblig Rev, Ser A (f)		5.750			10/01/22		378,565
	935	Seven Oaks, FL Cmnty Dev Dist II Spl Assmt Rev, Ser A		5.875			05/01/35		487,817
	1,900	South Vlg Cmnty Dev Dist FL Cap Impt Rev, Ser A		5.700			05/01/35		1,070,878
	800	Sterling Hill Cmnty Dev Dist FL Cap Impt Rev, Ser A		6.200			05/01/35		610,768
	1,060	Tallahassee, FL Lease Rev FL St Univ Proj, Ser A (MBIA Insd)		5.500			08/01/18		1,112,481
	200	Tolomato Cmnty, FL Dev Dist Spl Assmt		6.550			05/01/27		136,522
	2,075	Tolomato Cmnty, FL Dev Dist Spl Assmt		6.650			05/01/40		1,310,072
	1,000	Volusia Cnty, FL Ed Fac Auth Rev Ed Fac Embry Riddle Aero, Ser A		5.750			10/15/29		827,790
	500	World Comm Cmnty Dev Dist FL Spl Assmt		5.500			05/01/38		207,060

									56,020,044

		Georgia 1.8%
	625	Atlanta, GA Arpt Passenger Fac Charge Rev Gen Sub Lien, Ser C (FSA Insd)		5.000			01/01/33		599,719
	3,500	Atlanta, GA Arpt Passenger Fac Charge Rev Gen Sub Lien, Ser C (FSA Insd) (a)		5.000			01/01/33		3,358,495

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Georgia (continued)
$	1,000	Augusta, GA Gen Arpt Rev Passenger, Ser B (AMT)		5.350	%		01/01/28	$	642,500
	1,500	Putnam Cnty, GA Dev Auth Pollutn Ctl Rev GA Pwr Co, Ser 1		5.100			06/01/23		1,501,635
	2,000	Royston, GA Hosp Auth Hosp Rev Ctf Hlthcare Sys Inc Rfdg		6.500			07/01/27		1,481,800

									7,584,149

		Idaho 0.6%
	750	Idaho Hlth Fac Auth Rev Saint Lukes Hlth Sys Proj, Ser A		6.500			11/01/23		800,985
	1,000	Idaho Hlth Fac Auth Rev Saint Lukes Hlth Sys Proj, Ser A		6.750			11/01/37		1,021,700
	870	Idaho Hlth Fac Auth Rev Vly Vista Care Corp Rfdg (i)		6.125			11/15/27		599,604

									2,422,289

		Illinois 17.2%
	1,000	Bartlett, IL Tax Increment Rev Quarry Redev Proj Rfdg		5.600			01/01/23		744,970
	2,000	Bolingbrook, IL Sales Tax Rev Bolingbrook		6.250			01/01/24		1,482,440
	7,775	Chicago, IL Brd of Ed Rfdg, Ser C (FSA Insd) (a)		5.000			12/01/27		7,840,699
	745	Chicago, IL Increment Alloc Rev Diversey Narragansett Proj		7.460			02/15/26		592,200
	4,000	Chicago, IL Neighborhoods Alive 21 Pgm, Ser A (FGIC Insd) (Prerefunded @ 7/01/10)		5.750			01/01/40		4,324,080
	5,000	Chicago, IL O’Hare Intl Arpt Rev Gen Arpt Third Lien Rfdg, Ser A (MBIA Insd) (AMT)		5.375			01/01/32		4,198,500

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Illinois (continued)
$	3,500	Chicago, IL O’Hare Intl Arpt Rev Gen Arpt Third Lien, Ser A (AGC Insd) (a)		5.250	%		01/01/24	$	3,625,003
	11,500	Chicago, IL O’Hare Intl Arpt Rev Gen Arpt Third Lien, Ser A (AGC Insd) (a)		5.250			01/01/25		11,821,655
	4,000	Chicago, IL O’Hare Intl Arpt Rev, Ser A (FSA Insd) (a)		5.000			01/01/33		3,755,820
	485	Chicago, IL Pk Dist, Ser C (FGIC Insd)		5.500			01/01/19		514,362
	465	Chicago, IL Proj Rfdg, Ser C (FGIC Insd)		5.500			01/01/40		467,274
	3,100	Chicago, IL, Ser A (AGL Insd)		5.250			01/01/25		3,236,710
	80	Cook Cnty, IL Sch Dist No 107 (g)		7.000			12/01/10		88,992
	545	Cook Cnty, IL Sch Dist No 107		7.000			12/01/10		597,783
	120	Cook Cnty, IL Sch Dist No 107 (g)		7.200			12/01/09		126,730
	455	Cook Cnty, IL Sch Dist No 107		7.200			12/01/09		477,805
	982	Cortland, IL Spl Tax Rev Sheaffer Sys Proj (Acquired 5/02/06, Cost $972,180) (e)		5.500			03/01/17		596,025
	1,000	Deerfield, IL Ed Fac Chicagoland Jewish High Sch Proj		6.000			05/01/41		665,700
	1,000	Gilberts, IL Spl Svc Area No 19 Spl Tax The Conservancy Proj, Ser 1 (i)		5.375			03/01/16		548,750
	2,725	Illinois Dev Fin Auth Rev Cmnty Rehab Providers Fac, Ser A		7.375			07/01/25		2,813,263
	1,565	Illinois Ed Fac Auth Rev DePaul Univ (AMBAC Insd) (Prerefunded @ 10/01/10)		5.625			10/01/15		1,704,441
	1,125	Illinois Fin Auth Hosp Rev Rfdg Kish Hlth Sys Oblig Group		5.500			10/01/22		1,113,728

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Illinois (continued)
$	350	Illinois Fin Auth Rev Christian Homes Inc Rfdg, Ser A		5.750	%		05/15/31	$	223,664
	1,000	Illinois Fin Auth Rev IL Fin Auth Roosevelt Univ		5.500			04/01/37		775,810
	1,500	Illinois Fin Auth Rev IL Inst of Technology, Ser A		5.000			04/01/31		1,061,325
	2,915	Illinois Fin Auth Rev Kewanee Hosp Proj		5.100			08/15/31		1,660,063
	1,000	Illinois Fin Auth Rev Landing at Plymouth Pl Proj, Ser A		6.000			05/15/25		705,270
	1,350	Illinois Fin Auth Rev Landing at Plymouth Pl Proj, Ser A		6.000			05/15/37		813,820
	3,500	Illinois Fin Auth Rev Osf Hlthcare Sys, Ser A		5.750			11/15/37		2,859,640
	3,500	Illinois Fin Auth Rev Sherman Hlth Sys 2007, Ser A		5.500			08/01/37		2,428,475
	1,360	Illinois Hlth Fac Auth Rev Evangelical Hosp Rfdg, Ser C (FSA Insd)		6.750			04/15/12		1,492,505
	250	Lake Cnty, IL Cmnty Unit Sch Dist No 116 Round Lake (Radian Insd) (g)		7.600			02/01/14		320,025
	2,675	Metropolitan Pier & Expo Auth IL Dedicated St Tax Rev McCormick Pl Expn, Ser A (MBIA Insd)		5.250			06/15/42		2,633,404
	158	Pingree Grove Vlg, IL Spl Svc Area No 1 Spl Tax Cambridge Lakes Proj, Ser 05		5.250			03/01/15		130,582
	1,000	University IL Univ Rev Auxiliary Fac Sys (MBIA Insd)		4.500			04/01/36		876,060

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Illinois (continued)
$	848	Volo Vlg, IL Spl Svc Area No 3 Spl Tax Symphony Meadows Proj, Ser 1		6.000	%		03/01/36	$	482,970
	675	Will Cnty, IL Cmnty Sch Dist No 161 Summit Hill Cap Apprec (FGIC Insd) (g)		*			01/01/16		562,977
	1,335	Will Cnty, IL Cmnty Sch Dist No 161 Summit Hill Cap Apprec (FGIC Insd)		*			01/01/16		989,195
	425	Will Cnty, IL Cmnty Sch Dist No 161 Summit Hill Cap Apprec (FGIC Insd) (g)		*			01/01/19		306,276
	990	Will Cnty, IL Cmnty Sch Dist No 161 Summit Hill Cap Apprec (FGIC Insd)		*			01/01/19		599,574
	525	Will-Kankakee Regl Dev Auth IL Multi-Family Hsg Rev Sr Estates Supportive Living (AMT)		7.000			12/01/42		381,376
	991	Yorkville, IL Utd City Spl Svc Area Spl Tax No 2004-107 Raintree Vlg IL Proj		6.250			03/01/35		647,450
	969	Yorkville, IL Utd City Spl Svc Area Tax No 2005-108 Autumn Creek IL Proj		6.000			03/01/36		551,884

									71,839,275

		Indiana 2.7%
	1,000	Allen Cnty, IN Juvenile Just Ctr First Mtg (AMBAC Insd)		5.500			01/01/18		1,078,230
	1,000	Indiana Hlth & Ed Fac Fin Auth Hosp Rev Cmnty Fndtn Northwest IN		5.500			03/01/37		657,930

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Indiana (continued)
$	5,600	Indiana Hlth & Ed Fac Fin Auth Rev Ascension Hlth Sr Cr B-6 (a)		5.000	%		11/15/36	$	4,864,020
	4,565	Indiana St Hsg & Cmnty Dev Auth Single Family Mtg Rev Mtg, Ser D-1 (GNMA Collateralized) (AMT) (a)		4.625			07/01/38		3,424,686
	1,500	Petersburg, IN Pollutn Ctl Rev IN Pwr & Lt (AMT)		5.950			12/01/29		1,100,940
	500	Vigo Cnty, IN Hosp Auth Rev Un Hosp Inc (f)		5.750			09/01/42		298,980

									11,424,786

		Iowa 1.2%
	600	Jefferson Cnty, IA Hosp Rev Jefferson Cnty Hosp Proj, Ser C		5.950			08/01/37		372,996
	1,300	Pottawattamie Cnty, IA Rev Christian Homes Inc Rfdg, Ser E		5.750			05/15/26		859,534
	325	Sibley, IA Hlthcare Fac Rev Osceola Cmnty Hosp Proj		6.000			12/01/37		202,439
	2,250	Tobacco Settlement Auth IA Tob Settlement Rev Asset Bkd, Ser C		5.375			06/01/38		1,244,093
	1,800	Tobacco Settlement Auth IA Tob Settlement Rev Asset Bkd, Ser C		5.500			06/01/42		991,368
	2,250	Tobacco Settlement Auth IA Tob Settlement Rev Asset Bkd, Ser C		5.625			06/01/46		1,247,445

									4,917,875

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Kansas 1.1%
$	1,400	Burlington, KS Environmental Impt Rev KC Rfdg Pwr LT, Ser B (Syncora Gtd) (c)		5.000	%		12/01/23	$	1,436,946
	70	Cowley Cnty, KS Uni Sch Dist No 465 Winfield Impt & Rfdg (MBIA Insd)		5.250			10/01/22		73,598
	2,000	Manhattan, KS Hlthcare Fac Rev Meadowlark Hills Retirement, Ser A		5.000			05/15/24		1,448,340
	1,200	Manhattan, KS Hlthcare Fac Rev Meadowlark Hills Retirement, Ser A		5.000			05/15/36		731,484
	700	Olathe, KS Sr Living Fac Rev Catholic Care Campus Inc, Ser A		6.000			11/15/38		423,353
	400	Overland Pk, KS Dev Corp Rev First Tier Overland Pk, Ser A (Prerefunded @ 1/01/11)		7.375			01/01/32		448,408

									4,562,129

		Kentucky 1.0%
	1,500	Kentucky Econ Dev Fin Auth Louisville Arena Proj Rev Louisville Arena Sub, Ser A-1 (AGL Insd)		5.750			12/01/28		1,513,890
	3,545	Louisville & Jefferson Cnty, KY Metro Govt Hlth Sys Rev Norton Hlthcare Inc		5.250			10/01/36		2,589,232

									4,103,122

		Louisiana 2.7%
	550	Colonial Pinnacle Cmnty Dev Dist Dev		6.750			05/01/23		383,113
	991	Lakeshore Vlg Master Cmnty Dev Dist LA Spl Assmt		5.250			07/01/17		749,800

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Louisiana (continued)
$	1,355	Louisiana Hsg Fin Agy Rev Azalea Estates Rfdg, Ser A (GNMA Collateralized) (AMT)		5.375	%		10/20/39	$	1,193,796
	1,675	Louisiana Loc Govt Environmental Fac Pkg Fac Corp Garage Proj, Ser A (AMBAC Insd)		5.200			10/01/19		1,726,389
	6,202	Louisiana St Univ & Agric & Mechanical College Univ Rev Master Agreement (Acquired 11/30/98, Cost $6,202,000) (e)(i)		5.750			10/30/18		5,285,650
	2,000	Rapides Fin Auth LA Rev Cleco Pwr Proj (AMT) (c)		5.250			11/01/37		1,913,620

									11,252,368

		Maryland 1.6%
	750	Gaithersburg, MD Econ Dev Rev Asbury MD Oblig Group A		5.125			01/01/36		488,602
	1,300	Maryland St Cmnty Dev Admin Dept Hsg & Cmnty Dev, Ser H (AMT)		5.100			09/01/37		1,115,712
	1,000	Maryland St Econ Dev Corp Rev Sr Lien Chesapeake Bay Rfdg, Ser A		5.000			12/01/31		508,380
	500	Maryland St Hlth & Higher Ed Fac Auth Rev King Farm Presbyterian Cmnty, Ser A		5.250			01/01/27		260,810
	2,000	Maryland St Hlth & Higher Ed Fac Auth Rev Mercy Med Ctr, Ser A		5.500			07/01/42		1,474,560
	1,000	Maryland St Hlth & Higher Ed Fac Auth Rev Washington Cnty Hosp		6.000			01/01/43		754,400

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Maryland (continued)
$	1,700	Maryland St Trans Auth Arpt Baltimore/WA Intl Arpt, Ser B (AMBAC Insd) (AMT)		5.125	%		03/01/24	$	1,468,460
	950	Prince Georges Cnty, MD Spl Oblig Natl Harbor Proj		5.200			07/01/34		487,759

									6,558,683

		Massachusetts 4.9%
	2,765	Massachusetts St Dev Fin Agy Proj, Ser R-2 (MBIA Insd)		5.125			02/01/34		2,513,468
	625	Massachusetts St Dev Fin Agy Rev Boston Architectural Ctr (ACA Insd)		6.100			09/01/18		550,106
	1,000	Massachusetts St Dev Fin Agy Rev Boston Architectural Ctr (ACA Insd)		6.250			09/01/28		744,070
	500	Massachusetts St Dev Fin Agy Rev Linden Ponds Inc Fac, Ser A		5.750			11/15/35		277,290
	500	Massachusetts St Dev Fin Agy Rev Linden Ponds Inc Fac, Ser A		5.750			11/15/42		266,795
	500	Massachusetts St Hlth & Ed Fac Auth Rev Bal Structured Ylg (MBIA Insd)		5.000			07/01/13		500,835
	4,500	Massachusetts St Hlth & Ed Fac Auth Rev Harvard Univ, Ser B (a)		5.000			10/01/38		4,521,713
	35	Massachusetts St Hlth & Ed Fac Auth Rev Partn Hlthcare Sys, Ser C		5.750			07/01/32		34,489

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Massachusetts (continued)
$	465	Massachusetts St Hlth & Ed Fac Auth Rev Partn Hlthcare Sys, Ser C (Prerefunded @ 7/01/11)		5.750	%		07/01/32	$	519,042
	3,350	Massachusetts St Hlth & Ed Fac Auth Rev Univ MA Mem Issue, Ser D		5.000			07/01/33		2,227,449
	1,000	Massachusetts St Hsg Fin Agy Hsg, Ser A (AMT)		5.100			12/01/27		903,360
	5,500	Massachusetts St Sch Bldg Auth Dedicated Sales Tax Rev, Ser A (AMBAC Insd) (a)		4.500			08/15/35		4,920,108
	2,650	Massachusetts St Sch Bldg Auth Dedicated Sales Tax Rev, Ser A (FSA Insd) (a)		5.000			08/15/30		2,661,687

									20,640,412

		Michigan 3.1%
	3,860	Detroit, MI, Ser A (Syncora Gtd)		5.250			04/01/21		3,175,622
	1,430	Detroit, MI Wtr Supply Sys Rfdg Second Lien, Ser C (FSA Insd)		5.000			07/01/26		1,294,622
	950	Kent Hosp Fin Auth MI Rev Metro Hosp Proj, Ser A		5.250			07/01/30		604,903
	865	Kent Hosp Fin Auth MI Rev Metro Hosp Proj, Ser A		6.000			07/01/35		586,712
	875	Kent Hosp Fin Auth MI Rev Spectrum Hlth, Ser A (c)		5.250			01/15/47		906,807
	400	Kent Hosp Fin Auth MI Rev Spectrum Hlth, Ser A (c)		5.500			01/15/47		418,036
	155	Michigan St Hsg Dev Rental Hsg Rev, Ser A (MBIA Insd) (AMT)		5.300			10/01/37		135,276

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Michigan (continued)
$	1,500	Michigan St Strategic Fd Detroit Edison Co Proj Rfdg, Ser C (Syncora Gtd) (AMT)		5.450	%		12/15/32	$	1,189,770
	8,230	Michigan Tob Settlement Fin Auth Tob Settlement Asset Sr, Ser A		6.000			06/01/48		4,843,108

									13,154,856

		Minnesota 1.8%
	475	Chisago, MN Hlthcare Fac Rev CDL Homes LLC Proj		6.000			08/01/42		311,272
	1,260	Glencoe, MN Hlthcare Fac Rev Glencoe Regl Hlth Svc Proj		5.000			04/01/31		903,407
	1,000	Inver Grove Heights, MN Presbyterian Homes Care Rfdg		5.500			10/01/41		605,930
	1,850	Minneapolis, MN Hlthcare Sys Rev Fairview Hlth Svc, Ser A		6.375			11/15/23		1,941,816
	1,200	Minneapolis, MN Hlthcare Sys Rev Fairview Hlth Svc, Ser A		6.625			11/15/28		1,233,768
	200	North Oaks, MN Sr Hsg Rev Presbyterian Homes North Oaks		6.000			10/01/27		153,660
	500	North Oaks, MN Sr Hsg Rev Presbyterian Homes North Oaks		6.000			10/01/33		363,545
	1,850	Saint Paul, MN Hsg & Redev Auth Hlthcare Fac Rev Hlth Partners Oblig Grp Proj		5.250			05/15/36		1,269,618
	950	Saint Paul, MN Hsg & Redev Auth Hosp Rev Hlth East Proj		6.000			11/15/35		662,055

									7,445,071

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Missouri 3.6%
$	160	Cape Girardeau Cnty, MO Indl Dev Auth Hlthcare Fac Rev Southeast MO Hosp Assoc		5.625	%		06/01/27	$	136,794
	1,000	Carthage, MO Hosp Rev		5.875			04/01/30		649,630
	2,250	Carthage, MO Hosp Rev		6.000			04/01/38		1,384,357
	1,300	Cass Cnty, MO Hosp Rev		5.625			05/01/38		820,716
	1,400	Ellisville, MO Indl Dev Auth Rev Gambrill Gardens Proj Impt & Rfdg (i)		6.100			06/01/20		1,094,982
	1,000	Ellisville, MO Indl Dev Auth Rev Gambrill Gardens Proj Impt & Rfdg (i)		6.200			06/01/29		700,110
	385	Fenton, MO Tax Increment Rev & Impt Gravois Bluffs Proj Rfdg (Prerefunded @ 10/01/11)		7.000			10/01/21		443,508
	1,000	Joplin, MO Indl Dev Auth Indl Rev Christian Homes Inc Rfdg, Ser F		5.750			05/15/31		624,640
	1,000	Kearney, MO (AMBAC Insd)		5.500			03/01/16		1,067,330
	860	Maryland Heights, MO Tax Increment Rev South Heights Redev Proj Rfdg, Ser A		5.500			09/01/18		727,870
	1,200	Missouri St Hlth & Ed Fac Auth Rev Sr Living Fac Lutheran Rfdg, Ser B		5.125			02/01/27		887,124
	1,000	Saint Charles, MO Ctf Partn, Ser B		5.500			05/01/18		1,044,730
	675	Saint Louis Cnty, MO Indl Dev Auth Sr Living Fac Rev Saint Andrews Res for Srs, Ser A		6.375			12/01/30		483,779
	1,500	Saint Louis Cnty, MO Indl Dev Auth Sr Living Fac Rev Saint Andrews Res for Srs, Ser A		6.375			12/01/41		1,011,120

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Missouri (continued)
$	625	Saint Louis, MO Indl Dev Auth Tax Increment & Cmnty Impt Dist Loughborough Com Redev Rfdg		5.750	%		11/01/27	$	420,856
	2,350	Springfield, MO Pub Bldg Corp Leasehold Rev Springfield Branson Arpt, Ser B (AMBAC Insd) (AMT)		4.550			07/01/29		1,790,395
	2,625	Springfield, MO Pub Bldg Corp Leasehold Rev Springfield Branson Arpt, Ser B (AMBAC Insd) (AMT)		4.600			07/01/36		1,882,073

									15,170,014

		Nebraska 0.6%
	2,620	Omaha Pub Pwr Dist NE Elec Rev Sys, Ser A (a)		5.000			02/01/34		2,550,780

		Nevada 2.4%
	4,000	Clark Cnty, NV Indl Dev Rev Southwest Gas Corp Proj, Ser A (AMBAC Insd) (AMT)		5.250			07/01/34		2,671,240
	75	Clark Cnty, NV Indl Dev Rev Southwest Gas Corp Proj, Ser A (BHAC Insd) (AMT)		4.750			09/01/36		53,239
	25	Nevada Hsg Div Single Family Mtg Mezz, Ser D2 (AMT)		6.300			04/01/21		25,419
	2,645	Nevada Hsg Div Single Family Mtg Rev, Ser A (GNMA Collateralized) (AMT)		5.875			04/01/38		2,512,380
	930	Reno, NV Cap Impt Rev (FGIC Insd)		5.125			06/01/26		798,954
	1,570	Reno, NV Cap Impt Rev (FGIC Insd) (Prerefunded @ 6/01/12)		5.125			06/01/26		1,760,755

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Nevada (continued)
$	3,100	Reno, NV Hosp Rev Renown Regl Med Ctr Proj, Ser A		5.250	%		06/01/37	$	2,258,288

									10,080,275

		New Hampshire 1.3%
	4,800	New Hampshire Higher Ed & Hlth Fac Auth Rev Daniel Webster College Issue (i)		6.300			07/01/29		3,064,752
	1,525	New Hampshire Hlth & Ed Fac Auth Rev Derryfield Sch (Prerefunded @ 7/01/10)		6.750			07/01/20		1,342,366
	250	New Hampshire Hlth & Ed Fac Hlthcare Sys Covenant Hlth		5.500			07/01/34		203,332
	700	New Hampshire St Business Fin Auth Pollutn Ctl Rev Utd Illum Co Proj (AMT) (c)		7.125			07/01/27		701,771

									5,312,221

		New Jersey 10.6%
	375	Burlington Cnty, NJ Brdg Cmnty Econ Dev Rev The Evergreens Proj		5.625			01/01/38		215,153
	1,000	New Jersey Econ Dev Auth Econ Dev Rev Kapkowski Rd Landfill Proj Rfdg		5.750			04/01/31		661,890
	1,500	New Jersey Econ Dev Auth Rev Cig Tax		5.750			06/15/29		1,122,150
	1,600	New Jersey Econ Dev Auth Rev Cig Tax		5.750			06/15/34		1,158,912
	25,000	New Jersey Econ Dev Auth St Contract Econ Recovery (MBIA Insd) (i)		5.900			03/15/21		29,910,750
	1,500	New Jersey Econ Dev Auth Wtr Fac Rev NJ Amern Wtr Co Inc, Ser B (MBIA Insd) (AMT)		5.375			05/01/32		1,066,965

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		New Jersey (continued)
$	2,600	New Jersey Hlthcare Fac Fin Auth Rev Holy Name Hosp		5.000	%		07/01/36	$	1,714,492
	1,450	New Jersey Hlthcare Fac Fin Auth Rev Saint Peter’s Univ Hosp Oblig		5.750			07/01/37		1,071,376
	580	New Jersey St Tpk Auth Tpk Rev, Ser C (FSA Insd)		6.500			01/01/16		720,725
	1,000	New Jersey St Trans Tr Fd Auth Trans Sys, Ser A		5.750			06/15/18		1,189,030
	10,750	Tobacco Settlement Fin Corp NJ, Ser 1-A		5.000			06/01/41		5,637,945

									44,469,388

		New Mexico 0.7%
	1,500	Jicarilla, NM Apache Nation Rev Adj, Ser A (Acquired 1/23/03, Cost $1,514,910) (e)		5.000			09/01/18		1,567,500
	1,350	New Mexico St Hosp Equip Ln Council Hosp Rev Presbyterian Hlthcare Svc, Ser A		6.375			08/01/32		1,397,628

									2,965,128

		New York 12.5%
	3,000	Metropolitan Trans Auth NY Rev Rfdg, Ser A (MBIA Insd)		5.250			11/15/31		2,910,540
	1,600	New York City Hsg Dev Corp Multi-Family Hsg Rev, Ser E1 (AMT)		5.350			11/01/37		1,410,624
	400	New York City Indl Dev Agy Rev Liberty 7 World Trade Ctr Proj, Ser A		6.250			03/01/15		334,628
	2,500	New York City Indl Dev Agy Rev Liberty 7 World Trade Ctr Proj, Ser B		6.750			03/01/15		2,147,575

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		New York (continued)
$	1,000	New York City Liberty Dev Corp Rev National Sports Museum Proj, Ser A (Acquired 8/07/06, Cost $1,000,000) (e)(h)(i)		6.125/0.000	%		02/15/19	$	116,000
	8,800	New York City Muni Wtr Fin Auth Wtr & Swr Sys Rev, Ser D (a)		5.000			06/15/38		8,408,708
	2,500	New York City Muni Wtr Fin Auth Wtr & Swr Sys Rev, Ser D (a)		5.000			06/15/39		2,387,288
	85	New York City, Ser A-1		5.750			08/01/12		85,294
	3,000	New York City, Ser G		5.000			12/01/27		2,917,740
	4,775	New York City, Ser I-1 (a)		5.000			02/01/26		4,683,965
	1,900	New York City Transitional Fin Auth Bldg Aid Rev Fiscal 2009, Ser S-3		5.250			01/15/39		1,822,518
	6,800	New York St Dorm Auth Rev City Univ Sys Cons, Ser A		5.625			07/01/16		7,720,652
	350	New York St Dorm Auth Rev Mt Sinai NYU Hlth		5.500			07/01/26		313,971
	1,000	New York St Mtg Agy Homeowner Mtg Rev 145 (AMT)		5.125			10/01/37		857,000
	2,409	Plainedge, NY Uni Free Sch Dist No. 2063 (Acquired 12/01/00, Cost $2,490,000) (e)		6.000			06/01/12		2,425,405
	9,900	Port Auth NY & NJ Cons 144th Ser (a)		5.000			10/01/35		9,756,104
	600	Seneca Nation Indians Cap Impt Auth NY Spl Oblig, Ser A (f)		5.000			12/01/23		345,516
	3,000	Triborough Brdg & Tunl Auth Gen Purp, Ser A		5.000			01/01/27		3,012,000
	1,000	Westchester Tob Asset Sec Corp NY		5.000			06/01/26		701,520

									52,357,048

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		North Carolina 2.3%
$	1,000	North Carolina Med Care Commn Retirement Fac Rev First Mtg Southminster Proj, Ser A		5.750	%		10/01/37	$	676,200
	8,300	North Carolina Muni Pwr Agy No 1 Catawba Elec Rev Rfdg (MBIA Insd)		6.000			01/01/12		9,075,967

									9,752,167

		North Dakota 0.5%
	1,500	Grand Forks, ND Sr Hsg Rev 4000 Vly Square Proj Rfdg		5.300			12/01/34		822,930
	2,000	Ward Cnty, ND Hlthcare Fac Rev Trinity Obligated Group Rfdg		5.125			07/01/29		1,363,200

									2,186,130

		Ohio 8.0%
	300	Adams Cnty Hosp Fac Impt Rev Adams Cnty Hosp Proj (i)		6.250			09/01/20		216,978
	7,800	Buckeye, OH Tob Settlement Fin Auth Asset Bkd Sr Turbo, Ser A-2		5.750			06/01/34		4,651,062
	2,500	Buckeye, OH Tob Settlement Fin Auth Asset Bkd Sr Turbo, Ser A-2		5.875			06/01/30		1,598,475
	1,825	Cleveland, OH Rfdg (FSA Insd)		5.500			10/01/19		2,120,796
	2,090	Cleveland-Cuyahoga Cnty, OH Dev Port Auth Rev Cleveland Bond Fd, Ser B		5.375			05/15/18		1,817,234
	400	Cuyahoga Cnty, OH Hlthcare & Indpt Living Fac Rev Eliza Jennings Sr Care, Ser A		5.750			05/15/27		265,600
	1,000	Cuyahoga Cnty, OH Hosp Fac Rev Canton Inc Proj		7.500			01/01/30		945,170

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Ohio (continued)
$	1,000	Lorain Cnty, OH Hosp Rev Catholic Hlthcare, Ser S		5.375	%		10/01/30	$	940,240
	1,475	Lorain Cnty, OH Hosp Rev Catholic Rfdg, Ser C-1 (FSA Insd)		5.000			04/01/24		1,456,076
	2,270	Montgomery Cnty, OH Hosp Rev Kettering Med Ctr Impt & Rfdg (MBIA Insd)		6.250			04/01/20		2,734,510
	1,625	Montgomery Cnty, OH Rev Catholic Hlth, Ser C-1 (FSA Insd) (a)		5.000			10/01/41		1,389,253
	8,000	Ohio St Air Quality Dev Auth Rev Dayton Pwr (BHAC Insd) (AMT) (a)		4.800			09/01/36		6,215,960
	1,250	Ohio St Bldg Auth St Fac Admin Bldg Fd Proj, Ser A (FSA Insd)		5.000			04/01/22		1,290,175
	1,000	Ohio St Higher Ed Fac Commn Rev Hosp Univ Hosp Hlth Sys Inc, Ser A (BHAC Insd)		5.250			01/15/46		962,160
	4,590	Ohio St Hsg Fin Agy Residential Mtg Rev Bkd Sec Pgm, Ser D (GNMA Collateralized) (AMT) (a)		5.400			03/01/33		4,160,192
	2,520	Ohio St Hsg Fin Agy Residential Mtg Rev Bkd Sec Pgm, Ser F (GNMA Collateralized) (a)		5.500			09/01/39		2,479,617

									33,243,498

		Oklahoma 0.8%
	1,470	Chickasaw Nation, OK Hlth Sys (f)		6.250			12/01/32		1,091,005
	1,240	Kay Cnty, OK Home Fin Auth Rev Single Family Mtg Rfdg, Ser A (AMBAC Insd) (g)		7.000			11/01/11		1,429,174

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Oklahoma (continued)
$	615	Oklahoma Hsg Fin Agy Single Family Rev Mtg, Class B (GNMA Collateralized) (AMT)		7.997	%		08/01/18	$	666,875

									3,187,054

		Pennsylvania 2.6%
	1,750	Allegheny Cnty, PA Hosp Dev Auth Rev Hlth Sys West PA, Ser A		5.000			11/15/28		954,555
	385	Allegheny Cnty, PA San Auth Swr Rev (MBIA Insd)		5.500			12/01/30		385,889
	315	Crawford Cnty, PA Hosp Auth Sr Living Fac Rev Wesbury Utd Methodist Cmnty		5.875			08/15/10		309,569
	320	Lehigh Cnty, PA Gen Purp Auth Rev First Mtg Bible Fellowship Proj Rfdg, Ser A (i)		5.300			12/15/09		317,930
	240	Lehigh Cnty, PA Gen Purp Auth Rev First Mtg Bible Fellowship Proj Rfdg, Ser A (i)		5.400			12/15/10		232,190
	400	Montgomery Cnty, PA Indl Dev Auth Rev Mtg Whitemarsh Continuing Care Proj		6.125			02/01/28		262,508
	875	Montgomery Cnty, PA Indl Dev Auth Rev Mtg Whitemarsh Continuing Care Proj		6.250			02/01/35		548,468
	1,000	Pennsylvania Econ Dev Fin Auth Exempt Fac Rev Reliant Energy, Ser B (AMT) (c)		6.750			12/01/36		745,070
	1,550	Pennsylvania Hsg Fin Agy, Ser 94-A (AMT)		5.100			10/01/31		1,357,397
	2,000	Pennsylvania St Tpk Commn Tpk Rev Sub, Ser A (AGL Insd)		5.000			06/01/39		1,939,140

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Pennsylvania (continued)
$	1,000	Philadelphia, PA Auth Indl Dev PA Arpt Sys Proj, Ser A (MBIA Insd) (AMT)		5.125	%		07/01/19	$	972,830
	2,675	Pittsburgh, PA, Ser A (AMBAC Insd)		5.500			09/01/17		2,766,191

									10,791,737

		Rhode Island 0.2%
	1,375	Tobacco Settlement Fin Corp, Ser A		6.250			06/01/42		884,441

		South Carolina 3.0%
	1,000	Charleston Ed Excellence Fin Corp SC Rev Charleston Cnty Sch Dist (a)		5.250			12/01/25		1,003,975
	3,000	Charleston Ed Excellence Fin Corp SC Rev Charleston Cnty Sch Dist (a)		5.250			12/01/26		2,990,325
	475	Rock Hill, SC Util Sys Rev Comb Rfdg, Ser C (FSA Insd)		5.125			01/01/13		493,468
	1,235	Rock Hill, SC Util Sys Rev Comb Rfdg, Ser C (FSA Insd)		5.250			01/01/15		1,285,116
	900	South Carolina Jobs Econ Dev Auth Hlth Fac Rev First Mtg Wesley Commons Rfdg		5.125			10/01/26		566,631
	1,000	South Carolina Jobs Econ Dev Auth Hlth Fac Rev First Mtg Wesley Commons Rfdg		5.300			10/01/36		536,070
	460	South Carolina Jobs Econ Dev Auth Hlthcare Fac Rev First Mtg Lutheran Homes Rfdg		5.500			05/01/28		297,657
	400	South Carolina Jobs Econ Dev Auth Hlthcare Fac Rev First Mtg Lutheran Homes Rfdg		5.625			05/01/42		231,516

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		South Carolina (continued)
$	1,960	South Carolina Jobs Econ Dev Auth Hosp Fac Rev Palmetto Hlth Alliance Rfdg, Ser A		6.250	%		08/01/31	$	1,731,288
	2,500	South Carolina Jobs Econ Dev Auth Indl Rev Elec & Gas Co Proj, Ser A (AMBAC Insd)		5.200			11/01/27		2,496,825
	725	South Carolina Jobs Econ Dev Auth Rev Woodlands at Furman Proj, Ser A		6.000			11/15/27		495,668
	470	Tobacco Settlement Rev Mgmt Auth SC Tob Settlement Rev Rfdg		5.000			06/01/18		448,032

									12,576,571

		Tennessee 2.6%
	400	Elizabethton, TN Hlth & Ed Fac Brd Rev Hosp First Mtg Impt & Rfdg, Ser B (Prerefunded @ 7/01/12)		8.000			07/01/33		467,464
	4,000	Johnson City, TN Hlth & Ed Fac Brd Hosp Rev First Mtg Mtn St Hlth Rfdg, Ser A (MBIA-IBC Insd) (Prerefunded @ 7/01/12)		7.500			07/01/25		4,587,040
	3,000	Johnson City, TN Hlth & Ed Fac Brd Hosp Rev First Mtg Mtn St Hlth, Ser A		5.500			07/01/36		2,045,490
	2,650	Shelby Cnty, TN Hlth Ed & Hsg Fac Brd Rev Methodist, Ser B (FSA Insd) (a)		5.250			09/01/27		2,558,469
	1,500	Shelby Cnty, TN Hlth Ed & Hsg Fac Brd Rev Trezevant Manor Proj, Ser A		5.625			09/01/26		1,019,940

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Tennessee (continued)
$	365	Tennessee Hsg Dev Agy Home Ownership Pgm 2-A (AMT)		5.700	%		07/01/31	$	351,926

									11,030,329

		Texas 18.7%
	1,575	Alliance Arpt Auth Inc TX Spl Fac Rev FedEx Corp Proj Rfdg (AMT)		4.850			04/01/21		1,183,833
	1,250	Austin, TX Convention Enterprises Inc Convention Ctr Second Tier Rfdg, Ser B (f)		5.750			01/01/24		848,737
	1,000	Brazos Cnty, TX Hlth Fac Dev Oblig Grp		5.375			01/01/32		784,910
	790	Dallas Cnty, TX Flood Ctl Dist Rfdg		6.750			04/01/16		776,088
	1,000	Dallas-Fort Worth, TX Intl Arpt Rev Jt Impt & Rfdg, Ser A (BHAC Insd) (AMT)		5.500			11/01/31		890,620
	700	Dallas-Fort Worth, TX Intl Arpt Rev Jt, Ser C (MBIA Insd) (AMT)		5.750			11/01/18		704,249
	1,325	Dallas-Fort Worth, TX Intl Arpt Rev Jt, Ser C (MBIA Insd) (AMT)		6.000			11/01/23		1,326,033
	5,250	El Paso Cnty, TX Hosp Dist, Ser A (AGL Insd) (a)		5.000			08/15/37		4,938,833
	730	Fort Worth, TX Wtr & Swr Rev Impt & Rfdg		5.750			02/15/16		774,216
	770	Fort Worth, TX Wtr & Swr Rev Impt & Rfdg (Prerefunded @ 8/15/10)		5.750			02/15/16		828,851
	825	Harris Cnty, TX Hlth Fac Dev Corp Hosp Rev Rfdg Mem Hermann Hlthcare Sys, Ser B		7.250			12/01/35		866,596

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Texas (continued)
$	7,000	Harris Cnty, TX Hlth Fac Dev Corp Rev ARS Christus Hlth, Ser A-3 (FSA Insd) (b)(c)		3.370	%		07/01/31	$	7,000,000
	3,450	Harris Cnty, TX Hlth Fac Dev Corp Rev ARS Christus Hlth, Ser A-4 (FSA Insd) (b)(c)		2.800			07/01/31		3,450,000
	1,000	Houston, TX Arpt Sys Rev Sub Lien, Ser A (FSA Insd) (AMT)		5.625			07/01/30		897,400
	130	Houston, TX Pub Impt & Rfdg (FSA Insd)		5.750			03/01/15		138,385
	8,475	Houston, TX Util Sys Rev Comb First Lien Rfdg, Ser A (FSA Insd)		5.000			11/15/36		8,238,802
	3,320	Judson, TX Indpt Sch Dist Sch Bldg (AGL Insd) (a)		5.000			02/01/37		3,213,212
	1,100	Lufkin, TX Hlth Fac Dev Corp Hlth Sys Rev Mem Hlth Sys East TX		5.500			02/15/32		725,747
	1,250	Lufkin, TX Hlth Fac Dev Corp Hlth Sys Rev Mem Hlth Sys East TX		5.500			02/15/37		793,175
	1,250	Matagorda Cnty, TX Navig Dist No 1 Rev Coll Centerpoint Energy Proj Rfdg (c)		5.600			03/01/27		1,064,550
	1,200	MC Lennan Cnty, TX Pub Fac Corp Proj Rev		6.625			06/01/35		1,255,080
	1,000	Mesquite, TX Hlth Fac Dev Corp Retirement Fac Christian Care Ctr, Ser A (Prerefunded @ 2/15/10)		7.625			02/15/28		1,080,730
	1,800	Metropolitan Hlth Fac Dev Corp TX Wilson N Jones Mem Hosp Proj		7.250			01/01/31		1,385,676

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Texas (continued)
$	1,500	Mission, TX Econ Dev Corp Solid Waste Disp Rev Waste Mgmt Inc Proj (AMT) (c)		6.000	%		08/01/20	$	1,378,605
	1,000	North Central, TX Hlth Fac Dev Corp Rev Hosp Baylor Hlthcare Sys Proj, Ser A		5.125			05/15/29		903,990
	4,000	North Central, TX Hlth Fac Dev Hosp Childrens Med Ctr Dallas (AMBAC Insd)		5.250			08/15/32		3,163,120
	1,550	North TX Twy Auth Rev Rfdg Sys First Tier Put, Ser L-2 (c)		6.000			01/01/38		1,587,867
	1,000	North TX Twy Auth Rev Rfdg Sys First Tier, Ser B		5.625			01/01/28		960,050
	1,000	North TX Twy Auth Rev Rfdg Sys First Tier, Ser B		6.000			01/01/26		1,012,330
	1,250	North TX Twy Auth Rev Rfdg Sys First Tier, Ser B		6.000			01/01/27		1,255,925
	2,850	North TX Twy Auth Rev Toll Second Tier Rfdg, Ser F		5.750			01/01/33		2,576,229
	3,027	Region One Ed Svc Ctr Sub Tech Fac Proj (Acquired 12/30/97, Cost $3,157,260) (e)		6.590			12/15/17		3,379,133
	1,000	Tarrant Cnty, TX Cultural Ed Fac Fin Corp Retirement Fac Buckingham Sr Living Cmnty Inc.		5.625			11/15/27		661,840
	2,700	Tarrant Cnty, TX Cultural Ed Fac Fin Corp Retirement Fac Buckingham Sr Living Cmnty Inc.		5.750			11/15/37		1,570,644

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Texas (continued)
$	5,500	Tarrant Cnty, TX Cultural Ed Fac Fin Corp Retirement Fac Buckner Retirement Svc Inc Proj		5.250	%		11/15/37	$	4,132,425
	450	Tarrant Cnty, TX Cultural Ed Fac Fin Corp Retirement Fac CC Young Mem Home Proj		5.750			02/15/25		308,493
	3,300	Tarrant Cnty, TX Cultural Ed Fac Fin Corp Rev Christus Hlth Rfdg, Ser A (AGL Insd)		6.250			07/01/28		3,479,355
	80	Texas Muni Pwr Agy Rev (MBIA Insd) (g)		*			09/01/15		68,013
	165	Texas St Pub Ppty Fin Corp Rev Mental Hlth & Retardation Rfdg (FSA Insd)		5.500			09/01/13		165,388
	5,750	Texas St Trans Commn Mobility Fd (a)		5.000			04/01/28		5,864,080
	3,500	Tyler, TX Hlth Fac Dev Corp Hosp Rev & Impt East TX Med Ctr Rfdg, Ser A		5.375			11/01/37		2,326,205

									77,959,415

		Utah 0.1%
	800	Utah St Charter Sch Fin Auth Charter Sch Rev Summit Academy, Ser A		5.800			06/15/38		540,144

		Vermont 0.1%
	1,000	Vermont Econ Dev Auth Mtg Rev Wake Robin Corp Proj, Ser A		5.375			05/01/36		554,140

		Virginia 1.6%
	750	Peninsula Town Ctr Cmnty Dev Auth VA Spl Oblig		6.350			09/01/28		488,842

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Virginia (continued)
$	1,340	Richmond, VA (FSA Insd)		5.500	%		01/15/10	$	1,405,084
	2,590	Tobacco Settlement Fin Corp VA		5.500			06/01/26		2,942,111
	2,000	White Oak Vlg Shops VA Cmnty Dev Auth Spl Assmt Rev		5.300			03/01/17		1,646,840

									6,482,877

		Washington 2.9%
	5,000	Bellevue, WA Convention Ctr Auth Spl Oblig Rev Rfdg (MBIA Insd)		*			02/01/24		2,250,950
	3,000	Energy Northwest WA Elec Rev Proj No 3 Rfdg, Ser A (FSA Insd)		5.500			07/01/18		3,213,270
	1,350	Kalispel Tribe Indians Priority Dist WA Rev		6.625			01/01/28		1,001,727
	2,000	Port Seattle, WA Rev, Ser B (MBIA Insd) (AMT)		5.625			02/01/24		1,916,960
	1,500	Skagit Cnty, WA Pub Hosp Dist No 001 Rev Skagit Vly Hosp		5.750			12/01/28		997,215
	1,345	Tacoma, WA Elec Sys Rev Rfdg, Ser A (FSA Insd)		5.750			01/01/15		1,452,694
	1,545	Washington St Hsg Fin Commn Nonprofit Rev Custodial Rcpt Wesley Homes, Ser 2007A-2027 (Acquired 5/7/08, Cost $1,545,000) (e)		6.000			01/01/27		1,227,951

									12,060,767

		West Virginia 1.1%
	3,500	Harrison Cnty, WV Cnty Cmnty Solid Waste Disp Rev Allegheny Energy Rfdg, Ser D (AMT)		5.500			10/15/37		2,647,715
	1,000	West Virginia St Hosp Fin Auth Hosp Rev Thomas Hlth Sys		6.000			10/01/20		831,010

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		West Virginia (continued)
$	1,300	West Virginia St Hosp Fin Auth Hosp Rev Thomas Hlth Sys		6.250	%		10/01/23	$	1,040,962

									4,519,687

		Wisconsin 3.2%
	2,545	Wisconsin Hsg & Econ Dev Auth Home Ownership Rev, Ser A (AMT) (a)		5.300			09/01/23		2,511,864
	3,200	Wisconsin Hsg & Econ Dev Auth Home Ownership Rev, Ser A (AMT) (a)		5.500			09/01/28		3,038,144
	5,000	Wisconsin St Hlth & Ed Fac Auth Mercy Hlth Sys Corp (AMBAC Insd)		5.500			08/15/25		4,267,350
	400	Wisconsin St Hlth & Ed Fac Auth Rev Beaver Dam Cmnty Hosp Inc, Ser A		6.000			08/15/19		307,232
	3,975	Wisconsin St Hlth & Ed Fac Auth Rev Ministry Hlth (FSA Insd) (a)		5.000			08/01/34		3,436,109

									13,560,699

		Wyoming 0.2%
	1,000	Sweetwater Cnty, WY Solid Waste Disp Rev FMC Corp Proj Rfdg (AMT)		5.600			12/01/35		686,290

		Guam 1.1%
	6,000	Guam Pwr Auth Rev, Ser A (AMBAC Insd)		5.250			10/01/34		4,484,880

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Par
Amount
(000)		Description	Coupon			Maturity		Value

		Puerto Rico 0.0%
$	65	Puerto Rico Pub Bldgs Auth Rev Govt Fac, Ser I (Comwth Gtd) (Prerefunded @ 7/01/14)		5.250	%		07/01/33	$	74,485


Total Long-Term Investments 176.2% (Cost $859,212,064)									736,647,253


Short-Term Investments 8.0%
Athens-Clarke Cnty, GA Uni Govt dev Auth Rev Univ GA Althletic Assn ($7,820,000 par, coupon 0.350%, 07/01/35 maturity) (LOC: Bank of America) (c)(j)									7,820,000
Colorado Ed & Cultural Fac Auth Rev National Jewish Federation ($900,000 par, coupon 0.650%, 12/01/37 maturity) (LOC: JP Morgan Chase Bank) (c)(j)									900,000
Gainesville, FL Utils Sys Rev ($1,200,000 par, coupon 0.750%, 10/01/26 maturity) (LOC: SunTrust Bank) (c)(j)									1,200,000
Green Lake Twp Mich Econ Dev Corp Rev Interlochen Ctr Proj ($1,300,000 par, coupon 0.650%, 06/01/34 maturity) (LOC: JP Morgan Chase & Co) (c)(j)									1,300,000
Norfolk, VA Redev & Hsg Auth Rev Rfdg Old Dominion Univ Proj ($11,000,000 par, coupon 0.400%, 08/01/33 maturity) (LOC: Bank of America) (c)(j)									11,000,000
Polk Cnty, FL Indl Dev Auth Indl Dev Rev Winter Haven Hosp PJ ($8,100,000 par, coupon 0.470%, 09/01/34 maturity) (LOC: SunTrust Bank) (c)(j)									8,100,000

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued


Description	Value

Municipal Bonds (continued)
Virginia Small Business Fin Auth Hosp Rev Carilion Clinic Oblig ($3,300,000 par, coupon 0.400%, 07/01/42 maturity) (LOC: Bank of America) (c)(j)	$	3,300,000


Total Short-Term Investments 8.0% (Cost $33,620,000)		33,620,000

Total Investments 184.2% (Cost $892,832,064)	$	770,267,253

Liability for Floating Rate Note Obligations Related to Securities Held (24.4%) (Cost ($102,175,000))
(102,175) Notes with interest rates ranging from 0.41% to 2.28% at January 31, 2009 and contractual maturities of collateral ranging ranging from 2023 to 2041. (k)		(102,175,000	)


Total Net Investments 159.8% (Cost $790,657,064)		668,092,253

Other Assets in Excess of Liabilities 2.4%		9,917,645


Preferred Shares (including accrued distributions) (62.2%)		(260,025,266	)

Net Assets Applicable to Common Shares 100.0%	$	417,984,632

Percentages are calculated as a percentage of net assets applicable to common shares.


*		Zero coupon bond

(a)		Underlying security related to Inverse Floaters entered into by the Trust.

(b)		Security includes a feature allowing the Trust an option on any interest rate payment date to offer the security for sale at par. The sale is contingent upon market conditions.

(c)		Variable Rate Coupon

(d)		Security purchased on a when-issued or delayed delivery basis or forward commitment basis.

(e)		Security is restricted and may be resold only in transactions exempt from registration which are normally those transactions with qualified institutional buyers. Restricted securities comprise 4.4% of net assets.

(f)		144A-Private Placement security which is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. This security may only be resold in transactions exempt from registration which are normally those transactions with qualified institutional buyers.

(g)		Escrowed to Maturity

(h)		Interest is accruing at less than the stated coupon. Coupon is shown as stated coupon/actual coupon.

(i)		Security has been deemed illiquid.

(j)		Security includes a put feature allowing the Trust to periodically put the security back to the issuer at amortized cost on specified put dates. The interest rate shown represents the current interest rate earned by the Trust based on the most recent reset date.

(k)		Floating rate notes. The interest rates shown reflect the rate in effect at January 31, 2009.

Van Kampen Municipal Trust

Portfolio of Investments § January 31, 2009 (Unaudited) continued

ACA — American Capital Access
AGC — AGC Insured Custody Certificates
AGL — Assured Guaranty Ltd.
AMBAC — AMBAC Indemnity Corp.
AMT — Alternative Minimum Tax
BHAC — Berkshire Hathaway Assurance Corp.
Comwth — Commonwealth of Puerto Rico
FGIC — Financial Guaranty Insurance Co.
FSA — Financial Security Assurance Inc.
GNMA — Government National Mortgage Association
LOC — Letter of Credit
MBIA — Municipal Bond Investors Assurance Corp.
MBIA-IBC — MBIA Insured Bond Certificates
Radian — Radian Asset Assurance
Syncora — Syncora Guarantee Inc.

The Trust adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, Fair Value Measurements (FAS 157), effective November 1, 2008. In accordance with FAS 157, fair value is defined as the price that the Trust would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market the most advantageous market for the investment or liability. FAS 157 establishes a three-tier hierarchy to distinguish between (1) inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on market data obtained from sources independent of the reporting entity (observable inputs) and (2) inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances (unobservable inputs) and to establish classification of fair value measurements for disclosure purposes. Various inputs are used in determining the value of the Trust’s investments. The inputs are summarized in the three broad levels listed below.

	Level 1 —		quoted prices in active markets for identical investments

	Level 2 —		other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

	Level 3 —		significant unobservable inputs (including the Trust’s own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used as of January 31, 2009 in valuing the Trust’s investments carried at value:


	Investments in
Valuation Inputs	Securities
Level 1 — Quoted Prices	$	-0-
Level 2 — Other Significant Observable Inputs		770,267,253
Level 3 — Significant Unobservable Inputs		-0-

Total	$	770,267,253

Municipal bonds are valued by independent pricing services or dealers using the mean of the last reported bid and asked prices or, in the absence of market quotations, at fair value based upon yield data relating to municipal bonds with similar characteristics and general market conditions. Securities which are not valued by independent pricing services or dealers are valued at fair value using procedures established in good faith by the Board of Trustees. Factors considered in making this determination may include, but are not limited to, information obtained by contracting the issuer, analysts, or the appropriate stock exchange (for exchange-traded securities), analysis of the issuer’s financial statements or other available documents and, if necessary, available information concerning other securities in similar circumstances. Futures contracts are valued at the settlement price established each day on the exchange on which they are traded. Short-term securities with remaining maturities of 60 days or less are valued at amortized cost, which approximates market value.

Item 2. Controls and Procedures.

(a) The Trust’s principal executive officer and principal financial officer have concluded that the Trust’s disclosure controls and procedures are sufficient to ensure that information required to be disclosed by the Trust in this Form N-Q was recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, based upon such officers’ evaluation of these controls and procedures as of a date within 90 days of the filing date of the report.

(b) There were no changes in the Trust’s internal control over financial reporting that occurred during the registrant’s fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.

Item 3. Exhibits.

(a) A certification for the Principal Executive Officer of the registrant is attached hereto as part of EX-99.cert.

(b) A certification for the Principal Financial Officer of the registrant is attached hereto as part of EX-99.cert.

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) Van Kampen Municipal Trust

By: /s/ Edward C. Wood III
Name: Edward C. Wood III
Title: Principal Executive Officer
Date: March 19, 2009

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By: /s/ Edward C. Wood III
Name: Edward C. Wood III
Title: Principal Executive Officer
Date: March 19, 2009

By: /s/ Stuart N. Schuldt
Name: Stuart N. Schuldt
Title: Principal Financial Officer
Date: March 19, 2009