# EDGAR Filing Document

**Accession Number:** 0000828806
**File Stem:** 0001193125-25-271065
**Filing Date:** 2025-11
**Character Count:** 762701
**Document Hash:** 8b1d6deadbd138d83210247678c68fe2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-271065.hdr.sgml**: 20251107

**ACCESSION NUMBER**: 0001193125-25-271065

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 23

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251107

**DATE AS OF CHANGE**: 20251107

**EFFECTIVENESS DATE**: 20251107

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AIM TREASURER'S SERIES TRUST (INVESCO TREASURER'S SERIES TRUST)
- **CENTRAL INDEX KEY:** 0000828806

**ORGANIZATION NAME:**
- **EIN:** 586213968
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05460
- **FILM NUMBER:** 251460545

**BUSINESS ADDRESS:**
- **STREET 1:** 11 GREENWAY PLAZA
- **STREET 2:** SUITE 1000
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77046
- **BUSINESS PHONE:** 7136261919

**MAIL ADDRESS:**
- **STREET 1:** 11 GREENWAY PLAZA
- **STREET 2:** SUITE 1000
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77046

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIM TREASURERS SERIES TRUST (INVESCO TREASURER'S SERIES TRUST)
- **DATE OF NAME CHANGE:** 20100430

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIM TREASURERS SERIES TRUST
- **DATE OF NAME CHANGE:** 20040707

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIM TREASURERS SERIES FUNDS
- **DATE OF NAME CHANGE:** 20031126

## Series and Classes Contracts Data

### Invesco Premier Portfolio (Series ID: S000000173)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000000397 | Investor Class            | IMRXX           |
| C000029748 | Institutional Class       | IPPXX           |
| C000173345 | Personal Investment Class | IPVXX           |
| C000173346 | Private Investment Class  | IPTXX           |
| C000173347 | Reserve Class             | IRVXX           |
| C000173348 | Resource Class            | IRCXX           |

### Invesco Premier U.S. Government Money Portfolio (Series ID: S000000176)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000000400 | Investor Class      | FUGXX           |
| C000029750 | Institutional Class | IUGXX           |

?xml version='1.0' encoding='ASCII'? 0a791684-2ac7-4c4d-a9f2-64bbce4f0884

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

------

#### FORM N-CSR

------

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

#### Investment Company Act file number

#### 811-05460

#### AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
(Exact name of registrant as specified in charter)

------

11 Greenway Plaza, Suite 1000 Houston, Texas 77046

(Address of principal executive offices) (Zip code)

Glenn Brightman, Principal Executive Officer

11 Greenway Plaza, Suite 1000

Houston, Texas 77046

(Name and address of agent for service)

#### Registrant's telephone number, including area code:
&nbsp;&nbsp;&nbsp;&nbsp;(713) 626-1919

#### Date of fiscal year end:

#### August 31

#### Date of reporting period:

#### August 31, 2025
Item 1. Reports to Stockholders.

(a) The Registrant's annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940, as amended (the "Act") is as follows:

![TSR_logo](images_2587.jpg)

### Invesco Premier Portfolio

### Investor Class: IMRXX

#### ANNUAL SHAREHOLDER REPORT \| August 31, 2025
This annual shareholder report contains important information about Invesco Premier Portfolio (the "Fund") for the period September 1, 2024 to August 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Premier Portfolio<br> (Investor Class) | $180.18%<sup>†</sup> |

---

 **<sup>†</sup>* **Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.*

### What Are Key Statistics About The Fund?
(as of August 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$9699602598 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;123 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$15638286 |

---

### What Comprised The Fund's Holdings?
(as of August 31, 2025)

 **Composition by maturity, in days** 

 **(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;52.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;1.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;4.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;4.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;21.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;15.6% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2586.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

CM-I-TST-PMF-AR-INV **Invesco Premier Portfolio**

![TSR_logo](images_2587.jpg)

### Invesco Premier Portfolio

### Institutional Class: IPPXX

#### ANNUAL SHAREHOLDER REPORT \| August 31, 2025
This annual shareholder report contains important information about Invesco Premier Portfolio (the "Fund") for the period September 1, 2024 to August 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Premier Portfolio<br> (Institutional Class) | $180.18%<sup>†</sup> |

---

 **<sup>†</sup>* **Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.*

### What Are Key Statistics About The Fund?
(as of August 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$9699602598 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;123 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$15638286 |

---

### What Comprised The Fund's Holdings?
(as of August 31, 2025)

 **Composition by maturity, in days** 

 **(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;52.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;1.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;4.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;4.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;21.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;15.6% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2586.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

CM-I-TST-PMF-AR-INST **Invesco Premier Portfolio**

![TSR_logo](images_2587.jpg)

### Invesco Premier Portfolio

### Private Investment Class: IPTXX

#### ANNUAL SHAREHOLDER REPORT \| August 31, 2025
This annual shareholder report contains important information about Invesco Premier Portfolio (the "Fund") for the period September 1, 2024 to August 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Premier Portfolio<br> (Private Investment Class) | $490.48%<sup>†</sup> |

---

 **<sup>†</sup>* **Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.*

### What Are Key Statistics About The Fund?
(as of August 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$9699602598 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;123 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$15638286 |

---

### What Comprised The Fund's Holdings?
(as of August 31, 2025)

 **Composition by maturity, in days** 

 **(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;52.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;1.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;4.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;4.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;21.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;15.6% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2586.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

CM-I-TST-PMF-AR-PRV **Invesco Premier Portfolio**

![TSR_logo](images_2587.jpg)

### Invesco Premier Portfolio

### Personal Investment Class: IPVXX

#### ANNUAL SHAREHOLDER REPORT \| August 31, 2025
This annual shareholder report contains important information about Invesco Premier Portfolio (the "Fund") for the period September 1, 2024 to August 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Premier Portfolio<br> (Personal Investment Class) | $740.73%<sup>†</sup> |

---

 **<sup>†</sup>* **Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.*

### What Are Key Statistics About The Fund?
(as of August 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$9699602598 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;123 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$15638286 |

---

### What Comprised The Fund's Holdings?
(as of August 31, 2025)

 **Composition by maturity, in days** 

 **(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;52.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;1.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;4.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;4.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;21.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;15.6% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2586.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

CM-I-TST-PMF-AR-PER **Invesco Premier Portfolio**

![TSR_logo](images_2587.jpg)

### Invesco Premier Portfolio

### Reserve Class: IRVXX

#### ANNUAL SHAREHOLDER REPORT \| August 31, 2025
This annual shareholder report contains important information about Invesco Premier Portfolio (the "Fund") for the period September 1, 2024 to August 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Premier Portfolio<br> (Reserve Class) | $1071.05%<sup>†</sup> |

---

 **<sup>†</sup>* **Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.*

### What Are Key Statistics About The Fund?
(as of August 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$9699602598 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;123 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$15638286 |

---

### What Comprised The Fund's Holdings?
(as of August 31, 2025)

 **Composition by maturity, in days** 

 **(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;52.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;1.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;4.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;4.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;21.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;15.6% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2586.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

CM-I-TST-PMF-AR-RSV **Invesco Premier Portfolio**

![TSR_logo](images_2587.jpg)

### Invesco Premier Portfolio

### Resource Class: IRCXX

#### ANNUAL SHAREHOLDER REPORT \| August 31, 2025
This annual shareholder report contains important information about Invesco Premier Portfolio (the "Fund") for the period September 1, 2024 to August 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Premier Portfolio<br> (Resource Class) | $350.34%<sup>†</sup> |

---

 **<sup>†</sup>* **Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.*

### What Are Key Statistics About The Fund?
(as of August 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$9699602598 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;123 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$15638286 |

---

### What Comprised The Fund's Holdings?
(as of August 31, 2025)

 **Composition by maturity, in days** 

 **(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;52.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;1.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;4.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;4.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;21.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;15.6% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2586.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

CM-I-TST-PMF-AR-RSC **Invesco Premier Portfolio**

![TSR_logo](images_2587.jpg)

### Invesco Premier U.S. Government Money Portfolio

### Investor Class: FUGXX

#### ANNUAL SHAREHOLDER REPORT \| August 31, 2025
This annual shareholder report contains important information about Invesco Premier U.S. Government Money Portfolio (the "Fund") for the period September 1, 2024 to August 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Premier U.S. Government Money Portfolio<br> (Investor Class) | $180.18%<sup>†</sup> |

---

 **<sup>†</sup>* **Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.*

### What Are Key Statistics About The Fund?
(as of August 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$23659092014 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;138 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$38837023 |

---

### What Comprised The Fund's Holdings?
(as of August 31, 2025)

 **Composition by maturity, in days** 

 **(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;52.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;4.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;5.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;6.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;11.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;19.6% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2586.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

CM-I-TST-PGM-AR-INV **Invesco Premier U.S. Government Money Portfolio**

![TSR_logo](images_2587.jpg)

### Invesco Premier U.S. Government Money Portfolio

### Institutional Class: IUGXX

#### ANNUAL SHAREHOLDER REPORT \| August 31, 2025
This annual shareholder report contains important information about Invesco Premier U.S. Government Money Portfolio (the "Fund") for the period September 1, 2024 to August 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | |
|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** |
| Invesco Premier U.S. Government Money Portfolio<br> (Institutional Class) | $180.18%<sup>†</sup> |

---

 **<sup>†</sup>* **Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.*

### What Are Key Statistics About The Fund?
(as of August 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$23659092014 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;138 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$38837023 |

---

### What Comprised The Fund's Holdings?
(as of August 31, 2025)

 **Composition by maturity, in days** 

 **(% of total investments)\***

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;1-7 | &nbsp;&nbsp;&nbsp;52.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;8-30 | &nbsp;&nbsp;&nbsp;4.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;31-60 | &nbsp;&nbsp;&nbsp;5.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;61-90 | &nbsp;&nbsp;&nbsp;6.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;91-180 | &nbsp;&nbsp;&nbsp;11.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;181+ | &nbsp;&nbsp;&nbsp;19.6% |
| \* The number of days to maturity of each holding is determined in accordance with the provisions of Rule 2a-7 under the Investment Company Act of 1940. |  |

---

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2586.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

CM-I-TST-PGM-AR-INST **Invesco Premier U.S. Government Money Portfolio**

------

(b) Not applicable.

------

Item 2. Code of Ethics.

The Registrant has adopted a Code of Ethics (the "Code") that applies to the Registrant's Principal Executive Officer ("PEO") and Principal Financial Officer ("PFO"). This Code is filed as an exhibit to this report on Form N-CSR under Item 19(a)(1). No substantive amendments to this Code were made during the reporting period. There were no waivers for the fiscal year ended August 31, 2025.

------

Item 3. Audit Committee Financial Expert.

The Board of Trustees has determined that the Registrant has two audit committee financial experts serving on its Audit Committee: Anthony J. LaCava, Jr. and James Liddy. Each of these audit committee financial experts is "independent" within the meaning of that term as used in Form N-CSR.

------

Item 4. Principal Accountant Fees and Services.

------

(a) to (d)

#### Fees Billed by PwC Related to the Registrant
PricewaterhouseCoopers LLP ("PwC"), the Registrant's independent registered public accounting firm, billed the Registrant aggregate fees for services rendered to the Registrant for the last two fiscal years as shown in the following table. The Audit Committee pre-approved all audit and non-audit services provided to the Registrant.

---

| | | |
|:---|:---|:---|
|  | Fees Billed by PwC for Services Rendered to the Registrant for Fiscal Year Ended 2025  | Fees Billed by PwC for Services Rendered to the Registrant for Fiscal Year Ended 2024  |
| Audit Fees  | &nbsp;&nbsp;&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 44680  | $&nbsp;&nbsp;&nbsp;&nbsp;41230  |
| Audit-Related Fees  | &nbsp;&nbsp;&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; 0  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; 0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Tax Fees<sup>(</sup><sup>1</sup><sup>)</sup>  | &nbsp;&nbsp;&nbsp;&nbsp;$28634  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28330  |
| All Other Fees  | <u>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0</u>  | <u>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0</u>  |
| Total Fees  | &nbsp;&nbsp;&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;73314  | $69560  |

---

(1) Tax Fees for the fiscal years ended 2025 and 2024 includes fees billed for preparation of U.S. Tax Returns and Taxable Income calculations, including excise tax and year-to-date estimates for various book-to-tax differences. 

#### Fees Billed by PwC Related to Invesco and Affiliates
PwC billed Invesco Advisers, Inc. ("Invesco"), the Registrant's investment adviser, and any entity controlling, controlled by or under common control with Invesco that provides ongoing services to the Registrant ("Affiliates") aggregate fees for pre-approved non-audit services rendered to Invesco and Affiliates for the last two fiscal years as shown in the following table. The Audit Committee pre-approved all non-audit services provided to Invesco and Affiliates that were required to be pre-approved.

---

| | | |
|:---|:---|:---|
|  | Fees Billed for Non- <br> Audit Services <br> Rendered to <br> Invesco and <br> Affiliates for Fiscal <br> Year Ended 2025 That <br> Were Required <br> to be Pre-Approved <br> by the Registrant's Audit Committee  | Fees Billed for Non- <br> Audit Services <br> Rendered to <br> Invesco and <br> Affiliates for Fiscal <br> Year Ended 2024 That <br> Were Required <br> to be Pre-Approved <br> by the Registrant's Audit Committee  |
| Audit-Related Fees<sup>(</sup><sup>1)</sup>  | $&nbsp;&nbsp;&nbsp;&nbsp; 1177000  | $1121000  |
| Tax Fees  | $&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0  |
| All Other Fees  | <u>$&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; 0</u>  | <u>$&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0</u>  |
| Total Fees  | $&nbsp;&nbsp;&nbsp;&nbsp;1177000  | $&nbsp;&nbsp;&nbsp;&nbsp; 1121000  |

---

(1) Audit-Related Fees for the fiscal years ended 2025 and 2024 include fees billed related to reviewing controls at a service organization.

#### (e)(1)

#### PRE-APPROVAL OF AUDIT AND NON-AUDIT SERVICES

#### POLICIES AND PROCEDURES
As adopted by the Audit Committees

of the Invesco Funds (the "Funds")

Last Amended March 29, 2017

I. **Statement of Principles** 

The Audit Committees (the "Audit Committee") of the Boards of Trustees of the Funds (the "Board") have adopted these policies and procedures (the "Procedures") with respect to the pre-approval of audit and non-audit services to be provided by the Funds' independent auditor (the "Auditor") to the Funds, and to the Funds' investment adviser(s) and any entity controlling, controlled by, or under common control with the investment adviser(s) that provides ongoing services to the Funds (collectively, "Service Affiliates").

Under Section 202 of the Sarbanes-Oxley Act of 2002, all audit and non-audit services provided to the Funds by the Auditor must be preapproved by the Audit Committee. Rule 2-01 of Regulation S-X requires that the Audit Committee also pre-approve a Service Affiliate's engagement of the Auditor for non-audit services if the engagement relates directly to the operations and financial reporting of the Funds (a "Service Affiliate's Covered Engagement").

These Procedures set forth the procedures and the conditions pursuant to which the Audit Committee may pre-approve audit and non-audit services for the Funds and a Service Affiliate's Covered Engagement pursuant to rules and regulations of the Securities and Exchange Commission ("SEC") and other organizations and regulatory bodies applicable to the Funds ("Applicable Rules").<sup>1</sup> They address both general pre-approvals without consideration of specific case-by-case services ("general pre-approvals") and pre-approvals on a case-by-case basis ("specific pre-approvals"). Any services requiring pre-approval that are not within the scope of general pre-approvals hereunder are subject to specific pre-approval. These Procedures also address the delegation by the Audit Committee of pre-approval authority to the Audit Committee Chair or Vice Chair.

II. **Pre-Approval of Fund Audit Services** 

The annual Fund audit services engagement, including terms and fees, is subject to specific pre-approval by the Audit Committee. Audit services include the annual financial statement audit and other procedures required to be performed by an independent auditor to be able to form an opinion on the Funds' financial statements. The Audit Committee will receive, review and consider sufficient information concerning a proposed Fund audit engagement to make a reasonable evaluation of the Auditor's qualifications and independence. The Audit Committee will oversee the Fund audit services engagement as necessary, including approving any changes in terms, audit scope, conditions and fees.

------

In addition to approving the Fund audit services engagement at least annually and specifically approving any changes, the Audit Committee may generally or specifically pre-approve engagements for other audit services, which are those services that only an independent auditor reasonably can provide. Other audit services may include services associated with SEC registration statements, periodic reports and other documents filed with the SEC.

III. **General and Specific Pre-Approval of Non-Audit Fund Services** 

The Audit Committee will consider, at least annually, the list of General Pre-Approved Non-Audit Services which list may be terminated or modified at any time by the Audit Committee. To inform the Audit Committee's review and approval of General Pre-Approved Non-Audit Services, the Funds' Treasurer (or his or her designee) and Auditor shall provide such information regarding independence or other matters as the Audit Committee may request.

Any services or fee ranges that are not within the scope of General Pre-Approved Non-Audit Services have not received general pre-approval and require specific pre-approval. Each request for specific pre-approval by the Audit Committee for services to be provided by the Auditor to the Funds must be submitted to the Audit Committee by the Funds' Treasurer (or his or her designee) and must include detailed information about the services to be provided, the fees or fee ranges to be charged, and other relevant information sufficient to allow the Audit Committee to consider whether to pre-approve such engagement, including evaluating whether the provision of such services will impair the independence of the Auditor and is otherwise consistent with Applicable Rules.

IV. **Non-Audit Service Types** 

The Audit Committee may provide either general or specific pre-approval of audit-related, tax or other services, each as described in more detail below.

a. <u>Audit-Related Services</u> 

"Audit-related services" are assurance and related services that are reasonably related to the performance of the audit or review of the Fund's financial statements or that are traditionally performed by an independent auditor. Audit-related services include, among others, accounting consultations related to accounting, financial reporting or disclosure matters not classified as "Audit services"; assistance with understanding and implementing new accounting and financial reporting guidance from rulemaking authorities; services related to mergers, acquisitions or dispositions; compliance with ratings agency requirements and interfund lending activities; and assistance with internal control reporting requirements.

b. <u>Tax Services</u> 

"Tax services" include, but are not limited to, the review and signing of the Funds' federal tax returns, the review of required distributions by the Funds and consultations regarding tax matters such as the tax treatment of new investments or the impact of new regulations. The Audit Committee will not approve proposed services of the Auditor which the Audit Committee believes are to be provided in connection with a service or transaction initially recommended by the Auditor, the sole business purpose of which may be tax avoidance and the tax treatment of which may not be supported in the Internal Revenue Code and related regulations. The Audit Committee will consult with the Funds' Treasurer (or his or her designee) and may consult with outside counsel or advisers as necessary to ensure the consistency of tax services rendered by the Auditor with the foregoing policy. The Auditor shall not represent any Fund or any Service Affiliate before a tax court, district court or federal court of claims.

------

Each request to provide tax services under either the general or specific pre-approval of the Audit Committee will include a description from the Auditor in writing of (i) the scope of the service, the fee structure for the engagement, and any side letter or other amendment to the engagement letter, or any other agreement (whether oral, written, or otherwise) between the Auditor and the Funds, relating to the service; and (ii) any compensation arrangement or other agreement, such as a referral agreement, a referral fee or fee-sharing arrangement, between the Auditor (or an affiliate of the Auditor) and any person (other than the Funds or Service Affiliates receiving the services) with respect to the promoting, marketing, or recommending of a transaction covered by the service. The Auditor will also discuss with the Audit Committee the potential effects of the services on the independence of the Auditor, and document the substance of its discussion with the Audit Committee.

c. <u>Other Services</u> 

The Audit Committee may pre-approve other non-audit services so long as the Audit Committee believes that the service will not impair the independence of the Auditor. <u>Appendix I</u> includes a list of services that the Auditor is prohibited from performing by the SEC rules. <u>Appendix I</u> also includes a list of services that would impair the Auditor's independence unless the Audit Committee reasonably concludes that the results of the services will not be subject to audit procedures during an audit of the Funds' financial statements.

V. **Pre-Approval of Service Affiliate's Covered Engagements** 

Rule 2-01 of Regulation S-X requires that the Audit Committee pre-approve a Service Affiliate's engagement of the Auditor for non-audit services if the engagement relates directly to the operations and financial reporting of the Funds, defined above as a "Service Affiliate's Covered Engagement".

The Audit Committee may provide either general or specific pre-approval of any Service Affiliate's Covered Engagement, including for audit-related, tax or other services, as described above, if the Audit Committee believes that the provision of the services to a Service Affiliate will not impair the independence of the Auditor with respect to the Funds. Any Service Affiliate's Covered Engagements that are not within the scope of General Pre-Approved Non-Audit Services have not received general pre-approval and require specific pre-approval.

Each request for specific pre-approval by the Audit Committee of a Service Affiliate's Covered Engagement must be submitted to the Audit Committee by the Funds' Treasurer (or his or her designee) and must include detailed information about the services to be provided, the fees or fee ranges to be charged, a description of the current status of the pre-approval process involving other audit committees in the Invesco investment company complex (as defined in Rule 2-201 of Regulation S-X) with respect to the proposed engagement, and other relevant information sufficient to allow the Audit Committee to consider whether the provision of such services will impair the independence of the Auditor from the Funds. Additionally, the Funds' Treasurer (or his or her designee) and the Auditor will provide the Audit Committee with a statement that the proposed engagement requires pre-approval by the Audit Committee, the proposed engagement, in their view, will not impair the independence of the Auditor and is consistent with Applicable Rules, and the description of the proposed engagement provided to the Audit Committee is consistent with that presented to or approved by the Invesco audit committee.

Information about all Service Affiliate engagements of the Auditor for non-audit services, whether or not subject to pre-approval by the Audit Committee, shall be provided to the Audit Committee at least quarterly, to allow the Audit Committee to consider whether the provision of such services is compatible with maintaining the Auditor's independence from the Funds. The Funds' Treasurer and Auditor shall provide the Audit Committee with sufficiently detailed information about the scope of services provided and the fees for such services, to ensure that the Audit Committee can adequately consider whether the provision of such services is compatible with maintaining the Auditor's independence from the Fund.

------

VI. **Pre-Approved Fee Levels or Established Amounts** 

Pre-approved fee levels or ranges for audit and non-audit services to be provided by the Auditor to the Funds, and for a Service Affiliate's Covered Engagement, under general pre-approval or specific pre-approval will be set periodically by the Audit Committee. Any proposed fees exceeding 110% of the maximum pre-approved fee levels or ranges for such services or engagements will be promptly presented to the Audit Committee and will require specific pre-approval by the Audit Committee before payment of any additional fees is made.

VII. **Delegation** 

The Audit Committee hereby delegates, subject to the dollar limitations set forth below, specific authority to its Chair, or in his or her absence, Vice Chair, to pre-approve audit and non-audit services proposed to be provided by the Auditor to the Funds and/or a Service Affiliate's Covered Engagement, between Audit Committee meetings. Such delegation does not preclude the Chair or Vice Chair from declining, on a case-by-case basis, to exercise his or her delegated authority and instead convening the Audit Committee to consider and pre-approve any proposed services or engagements.

Notwithstanding the foregoing, the Audit Committee must pre-approve: (a) any non-audit services to be provided to the Funds for which the fees are estimated to exceed $500,000; (b) any Service Affiliate's Covered Engagement for which the fees are estimated to exceed $500,000; or (c) any cost increase to any previously approved service or engagement that exceeds the greater of $250,000 or 50% of the previously approved fees up to a maximum increase of $500,000.

VIII. **Compliance with Procedures** 

Notwithstanding anything herein to the contrary, failure to pre-approve any services or engagements that are not required to be pre-approved pursuant to the de minimis exception provided for in Rule 2-01(c)(7)(i)(C) of Regulation S-X shall not constitute a violation of these Procedures. The Audit Committee has designated the Funds' Treasurer to ensure services and engagements are pre-approved in compliance with these Procedures. The Funds' Treasurer will immediately report to the Chair of the Audit Committee, or the Vice Chair in his or her absence, any breach of these Procedures that comes to the attention of the Funds' Treasurer or any services or engagements that are not required to be pre-approved pursuant to the de minimis exception provided for in Rule 2-01(c)(7)(i)(C) of Regulation S-X.

On at least an annual basis, the Auditor will provide the Audit Committee with a summary of all non-audit services provided to any entity in the investment company complex (as defined in section 2-01(f)(14) of Regulation S-X, including the Funds and Service Affiliates) that were not pre-approved, including the nature of services provided and the associated fees.

IX. **Amendments to Procedures** 

All material amendments to these Procedures must be approved in advance by the Audit Committee. Non-material amendments to these Procedures may be made by the Legal and Compliance Departments and will be reported to the Audit Committee at the next regularly scheduled meeting of the Audit Committee.

------

#### Appendix I

#### Non-Audit Services That May Impair the Auditor's Independence
The Auditor is not independent if, at any point during the audit and professional engagement, the Auditor provides the following non-audit services:

· Management functions; 

· Human resources; 

· Broker-dealer, investment adviser, or investment banking services; 

· Legal services; 

· Expert services unrelated to the audit; 

· Any service or product provided for a contingent fee or a commission; 

· Services related to marketing, planning, or opining in favor of the tax treatment of confidential transactions or aggressive tax position transactions, a significant purpose of which is tax avoidance; 

· Tax services for persons in financial reporting oversight roles at the Fund; and 

· Any other service that the Public Company Oversight Board determines by regulation is impermissible. 

An Auditor is not independent if, at any point during the audit and professional engagement, the Auditor provides the following non-audit services unless it is reasonable to conclude that the results of the services will not be subject to audit procedures during an audit of the Funds' financial statements:

· Bookkeeping or other services related to the accounting records or financial statements of the audit client; 

· Financial information systems design and implementation; 

· Appraisal or valuation services, fairness opinions, or contribution-in-kind reports; 

· Actuarial services; and 

· Internal audit outsourcing services. 

(e)(2) There were no amounts that were pre-approved by the Audit Committee pursuant to the de minimis exception under Rule 2-01 of Regulation S-X.

(f) Not applicable.

(g) In addition to the amounts shown in the tables above, PwC billed Invesco and Invesco Affiliates aggregate fees of $6,681,000 for the fiscal year ended August 31, 2025 and $6,608,000 for the fiscal year ended August 31, 2024. In total, PwC billed the Registrant, Invesco and Invesco Affiliates aggregate non-audit fees of $7,886,634 for the fiscal year ended August 31, 2025 and $7,757,330 for the fiscal year ended August 31, 2024.

PwC provided audit services to the Investment Company complex of approximately $35 million.

------

(h) The Audit Committee also has considered whether the provision of non-audit services that were rendered to Invesco and Invesco Affiliates that were not required to be pre-approved pursuant to SEC regulations, if any, is compatible with maintaining PwC's independence.

(i) Not applicable.

(j) Not applicable.

---

| | |
|:---|:---|
| 1  | Applicable Rules include, for example, New York Stock Exchange ("NYSE") rules applicable to closed-end funds managed by Invesco and listed on NYSE.  |

---

------

Item 5. Audit Committee of Listed Registrants.

Not applicable.

------

Item 6. Investments.

(a) Investments in securities of unaffiliated issuers is filed under Item 7 of this Form N-CSR.

(b) Not applicable.

------

Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

------

![](imga2dff1501.jpg)

------

**Annual Financial Statements and Other Information**

**August 31, 2025**

**Investor Class**

**AIM Treasurer's Series Trust**

**(Invesco Treasurer's Series Trust)**

Invesco Premier Portfolio

Invesco Premier U.S. Government Money Portfolio

------

---

| | |
|:---|:---|
| [2](#xx_75b6de8c-aff3-4251-b55d-574ad93a8146_SOI-Continued-479_1) | Schedules of Investments |
| [14](#xx_75b6de8c-aff3-4251-b55d-574ad93a8146_FS-Continued-479_1) | Financial Statements |
| [17](#xx_75b6de8c-aff3-4251-b55d-574ad93a8146_FS-Continued-479_4) | Financial Highlights |
| [18](#xx_75b6de8c-aff3-4251-b55d-574ad93a8146_NTF-Continued-479_1) | Notes to Financial Statements |
| [23](#xx_75b6de8c-aff3-4251-b55d-574ad93a8146_RIR-Continued-479_1) | Report of Independent Registered Public Accounting Firm |
| [24](#xx_75b6de8c-aff3-4251-b55d-574ad93a8146_AOC-Continued-479_1) | Approval of Investment Advisory and Sub-Advisory Contracts |
| [27](#xx_75b6de8c-aff3-4251-b55d-574ad93a8146_TI-Continued-479_1) | Tax Information |
| [28](#xx_75b6de8c-aff3-4251-b55d-574ad93a8146_OIRSR-Continued-479_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments**

*August 31, 2025*

**Invesco Premier Portfolio**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  |
| **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** |
| BofA Securities, Inc. (SOFR + 0.43%)<sup>(b)</sup> <br>| 4.85% | 04/29/2026 | $25000 | &nbsp;&nbsp; $25000000 |
| BofA Securities, Inc. | 4.25% | 05/06/2026 | 50000 | &nbsp;&nbsp; 48586611 |
| BofA Securities, Inc. | 4.24% | 05/21/2026 | 10000 | &nbsp;&nbsp; 9700884 |
|  |  |  |  | &nbsp;&nbsp; 83287495 |
| **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** |
| Old Line Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.41% | 12/01/2025 | 50000 | &nbsp;&nbsp; 49456528 |
| Old Line Funding LLC (CEP-Royal Bank of Canada) (SOFR + 0.34%)<sup>(b)(c)(d)</sup> <br>| 4.76% | 06/04/2026 | 35000 | &nbsp;&nbsp; 35000000 |
| Old Line Funding LLC (CEP - Royal Bank of Canada) (SOFR + 0.35%)<sup>(b)(c)(d)</sup> <br>| 4.74% | 07/02/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Old Line Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.33% | 07/17/2026 | 50000 | &nbsp;&nbsp; 48161319 |
| Old Line Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.20% | 08/14/2026 | 40000 | &nbsp;&nbsp; 38446211 |
| Thunder Bay Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.20% | 08/14/2026 | 50000 | &nbsp;&nbsp; 48057764 |
|  |  |  |  | &nbsp;&nbsp; 269121822 |
| **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** |
| Atlantic Asset Securitization LLC (CEP-Credit Agricole Corporate & Investment Bank <br> S.A.)<sup>(c)(d)</sup> <br>| 4.43% | 01/21/2026 | 40000 | &nbsp;&nbsp; 39316822 |
| **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** |
| Anglesea Funding LLC (Multi-CEP's) (01 mo. OBFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.65% | 01/26/2026 | 80000 | &nbsp;&nbsp; 80000000 |
| Anglesea Funding LLC (Multi-CEP's) (01 mo. OBFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.70% | 02/11/2026 | 80000 | &nbsp;&nbsp; 80000000 |
| Anglesea Funding LLC (Multi-CEP's) (01 mo. OBFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.64% | 02/24/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Concord Minutemen Capital Co. LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.35% | 11/25/2025 | 61760 | &nbsp;&nbsp; 61132965 |
| Lexington Parker Capital Co. LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.35% | 09/02/2025 | 134132 | &nbsp;&nbsp; 134115792 |
| Mont Blanc Capital Corp. (CEP-ING Bank N.V.)<sup>(c)(d)</sup> <br>| 4.31% | 12/15/2025 | 30000 | &nbsp;&nbsp; 29628125 |
| Mountcliff Funding LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.49% | 09/04/2025 | 50000 | &nbsp;&nbsp; 49981500 |
| Mountcliff Funding LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.39% | 11/07/2025 | 100000 | &nbsp;&nbsp; 99190417 |
| Versailles Commercial Paper LLC (CEP-Natixis SA) (SOFR + 0.18%)<sup>(b)(c)(d)</sup> <br>| 4.60% | 10/22/2025 | 100000 | &nbsp;&nbsp; 100000000 |
|  |  |  |  | &nbsp;&nbsp; 684048799 |
| **Consumer Finance-0.51%** | **Consumer Finance-0.51%** | **Consumer Finance-0.51%** | **Consumer Finance-0.51%** | **Consumer Finance-0.51%** |
| Toyota Motor Credit Corp.<sup>(d)</sup> <br>| 4.45% | 12/04/2025 | 50000 | &nbsp;&nbsp; 49428167 |
| **Diversified Banks-16.13%** | **Diversified Banks-16.13%** | **Diversified Banks-16.13%** | **Diversified Banks-16.13%** | **Diversified Banks-16.13%** |
| ANZ New Zealand Int'l Ltd. (United Kingdom)<sup>(c)(d)</sup> <br>| 4.14% | 03/02/2026 | 50000 | &nbsp;&nbsp; 48959250 |
| Australia & New Zealand Banking Group Ltd. (Australia)<sup>(c)(d)</sup> <br>| 4.21% | 02/23/2026 | 65000 | &nbsp;&nbsp; 63696615 |
| Bank of New York Mellon (The) (SOFR + 0.18%)<sup>(b)</sup> <br>| 4.84% | 09/30/2025 | 60100 | &nbsp;&nbsp; 60100000 |
| Barclays Bank PLC (SOFR + 0.20%)<sup>(b)(c)(d)</sup> <br>| 4.69% | 09/12/2025 | 50000 | &nbsp;&nbsp; 50000000 |
| Barclays Bank PLC<sup>(c)(d)</sup> <br>| 4.50% | 11/17/2025 | 75000 | &nbsp;&nbsp; 74294166 |
| Barclays Bank PLC (SOFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.66% | 01/06/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| Barclays Bank PLC<sup>(c)(d)</sup> <br>| 4.29% | 02/20/2026 | 30000 | &nbsp;&nbsp; 29398000 |
| BNG Bank N.V. (Netherlands)<sup>(c)(d)</sup> <br>| 4.33% | 09/04/2025 | 200000 | &nbsp;&nbsp; 199927833 |
| Citigroup Global Markets, Inc.<sup>(c)</sup> <br>| 4.63% | 11/14/2025 | 25000 | &nbsp;&nbsp; 24772861 |
| Citigroup Global Markets, Inc. (SOFR + 0.22%)<sup>(b)(c)</sup> <br>| 4.65% | 12/19/2025 | 55000 | &nbsp;&nbsp; 55000000 |
| Citigroup Global Markets, Inc.<sup>(c)</sup> <br>| 4.37% | 05/14/2026 | 25000 | &nbsp;&nbsp; 24258021 |
| Citigroup Global Markets, Inc. (SOFR + 0.34%)<sup>(b)(c)</sup> <br>| 4.75% | 06/17/2026 | 75000 | &nbsp;&nbsp; 75000000 |
| Dexia S.A. (France)<sup>(c)(d)</sup> <br>| 4.39% | 10/23/2025 | 50000 | &nbsp;&nbsp; 49686556 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**2**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Diversified Banks-(continued)** | **Diversified Banks-(continued)** | **Diversified Banks-(continued)** | **Diversified Banks-(continued)** | **Diversified Banks-(continued)** |
| DNB Bank ASA (Norway)<sup>(c)(d)</sup> <br>| 4.59% | 11/12/2025 | $10000 | &nbsp;&nbsp; $9912200 |
| DNB Bank ASA (Norway)<sup>(c)(d)</sup> <br>| 4.33% | 04/20/2026 | 50000 | &nbsp;&nbsp; 48655708 |
| DNB Bank ASA (Norway)<sup>(c)(d)</sup> <br>| 4.27% | 07/07/2026 | 40000 | &nbsp;&nbsp; 38592333 |
| HSBC Bank PLC (SOFR + 0.36%) (United Kingdom)<sup>(b)(c)(d)</sup> <br>| 4.87% | 09/11/2025 | 25000 | &nbsp;&nbsp; 25000000 |
| HSBC Bank PLC (SOFR + 0.36%) (United Kingdom)<sup>(b)(c)(d)</sup> <br>| 4.89% | 09/25/2025 | 50000 | &nbsp;&nbsp; 49999666 |
| ING (US) Funding LLC<sup>(c)(d)</sup> <br>| 4.50% | 10/07/2025 | 50000 | &nbsp;&nbsp; 49785000 |
| ING (US) Funding LLC (SOFR + 0.24%)<sup>(b)(c)(d)</sup> <br>| 4.60% | 10/24/2025 | 51000 | &nbsp;&nbsp; 51000000 |
| ING US Funding LLC (SOFR + 0.33%)<sup>(b)(c)(d)</sup> <br>| 4.77% | 12/18/2025 | 25000 | &nbsp;&nbsp; 25000000 |
| ING US Funding LLC (SOFR + 0.26%)<sup>(b)(c)(d)</sup> <br>| 4.64% | 03/09/2026 | 25000 | &nbsp;&nbsp; 24997394 |
| ING US Funding LLC<sup>(c)(d)</sup> <br>| 4.43% | 05/01/2026 | 40000 | &nbsp;&nbsp; 38846467 |
| Lloyds Bank PLC (United Kingdom)<sup>(d)</sup> <br>| 4.24% | 02/09/2026 | 51445 | &nbsp;&nbsp; 50490195 |
| Lloyds Bank PLC (United Kingdom)<sup>(d)</sup> <br>| 4.24% | 02/11/2026 | 49600 | &nbsp;&nbsp; 48668002 |
| Lloyds Bank PLC (United Kingdom)<sup>(c)(d)</sup> <br>| 4.35% | 04/24/2026 | 50000 | &nbsp;&nbsp; 48625903 |
| National Australia Bank Ltd. (SOFR + 0.20%) (Australia)<sup>(b)(c)(d)</sup> <br>| 4.59% | 11/03/2025 | 75000 | &nbsp;&nbsp; 75000000 |
| Skandinaviska Enskilda Banken AB (Sweden)<sup>(c)(d)</sup> <br>| 4.50% | 10/29/2025 | 50000 | &nbsp;&nbsp; 49653611 |
| UBS AG (SOFR + 0.38%)<sup>(b)(c)(d)</sup> <br>| 4.78% | 05/15/2026 | 25000 | &nbsp;&nbsp; 25000000 |
| Westpac Banking Corp. (SOFR + 0.33%) (Australia)<sup>(b)(c)(d)</sup> <br>| 4.83% | 09/04/2025 | 50000 | &nbsp;&nbsp; 50000000 |
|  |  |  |  | &nbsp;&nbsp; 1564319781 |
| **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** |
| Collateralized Commercial Paper V Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.28%)<sup>(b)</sup> <br>| 4.72% | 12/16/2025 | 25000 | &nbsp;&nbsp; 25000000 |
| Collateralized Commercial Paper V Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.29%)<sup>(b)</sup> <br>| 4.74% | 02/09/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Collateralized Commercial Paper V Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.30%)<sup>(b)</sup> <br>| 4.71% | 03/10/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Endeavour Funding Co. LLC (CEP-HSBC Bank PLC)<sup>(c)(d)</sup> <br>| 4.38% | 09/02/2025 | 50000 | &nbsp;&nbsp; 49993917 |
| Great Bear Funding LLC (CEP - Bank of Nova Scotia) (01 mo. OBFR + 0.23%)<sup>(b)(d)</sup> <br>| 4.69% | 02/23/2026 | 95000 | &nbsp;&nbsp; 95000000 |
| Great Bear Funding LLC (CEP - Bank of Nova Scotia) (01 mo. OBFR + 0.26%)<sup>(b)(d)</sup> <br>| 4.64% | 04/30/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Lion Bay Funding LLC (Multi-CEP's) (SOFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.72% | 12/15/2025 | 50000 | &nbsp;&nbsp; 50000000 |
| Mackinac Funding Co. LLC (CEP-BNP Paribas SA)<sup>(c)(d)</sup> <br>| 4.48% | 09/04/2025 | 75000 | &nbsp;&nbsp; 74972312 |
| Park Avenue Collateralized Notes Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.36%)<sup>(b)(c)</sup> <br>| 4.83% | 01/27/2026 | 25000 | &nbsp;&nbsp; 25000000 |
| UBS AG<sup>(c)(d)</sup> <br>| 4.47% | 10/08/2025 | 25000 | &nbsp;&nbsp; 24890028 |
| UBS AG (SOFR + 0.39%)<sup>(b)(c)(d)</sup> <br>| 4.82% | 12/01/2025 | 50000 | &nbsp;&nbsp; 50000000 |
| UBS AG (SOFR + 0.39%)<sup>(b)(c)(d)</sup> <br>| 4.85% | 01/02/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| UBS AG (SOFR + 0.32%)<sup>(b)(c)(d)</sup> <br>| 4.73% | 03/02/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| UBS AG (SOFR + 0.37%)<sup>(b)(c)(d)</sup> <br>| 4.79% | 06/17/2026 | 35000 | &nbsp;&nbsp; 35000000 |
|  |  |  |  | &nbsp;&nbsp; 729856257 |
| **Regional Banks-2.06%** | **Regional Banks-2.06%** | **Regional Banks-2.06%** | **Regional Banks-2.06%** | **Regional Banks-2.06%** |
| ASB Bank Ltd. (SOFR + 0.35%) (New Zealand)<sup>(b)(c)(d)</sup> <br>| 4.79% | 02/17/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| ASB Bank Ltd. (SOFR + 0.32%) (New Zealand)<sup>(b)(c)(d)</sup> <br>| 4.78% | 02/27/2026 | 100000 | &nbsp;&nbsp; 100000000 |
|  |  |  |  | &nbsp;&nbsp; 200000000 |
| **Specialized Finance-5.60%** | **Specialized Finance-5.60%** | **Specialized Finance-5.60%** | **Specialized Finance-5.60%** | **Specialized Finance-5.60%** |
| Aquitaine Funding Co. LLC (CEP-Societe Generale S.A.)<sup>(c)(d)</sup> <br>| 4.40% | 09/02/2025 | 200000 | &nbsp;&nbsp; 199975555 |
| Aquitaine Funding Co. LLC (CEP-Societe Generale S.A.)<sup>(c)(d)</sup> <br>| 4.50% | 09/03/2025 | 100000 | &nbsp;&nbsp; 99975278 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**3**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** |
| Cabot Trail Funding LLC (CEP-Toronto-Dominion Bank) (SOFR + 0.18%)<sup>(b)(d)</sup> <br>| 4.67% | 09/05/2025 |  | $30000 | &nbsp;&nbsp; $30000000 |
| CDP Financial, Inc. (Canada)<sup>(c)(d)</sup> <br>| 4.51% | 01/08/2026 |  | 50000 | &nbsp;&nbsp; 49227792 |
| CDP Financial, Inc. (Canada)<sup>(c)(d)</sup> <br>| 4.53% | 02/03/2026 |  | 65000 | &nbsp;&nbsp; 63788201 |
| Concord Minutemen Capital Co. LLC (CEP-Goldman Sachs International) (SOFR + 0.30%)<sup>(b)(c)</sup> <br>| 4.65% | 12/23/2025 |  | 35000 | &nbsp;&nbsp; 35000000 |
| Concord Minutemen Capital Co. LLC (CEP-Goldman Sachs International)<sup>(c)</sup> <br>| 4.33% | 02/25/2026 |  | 15000 | &nbsp;&nbsp; 14688037 |
| Podium Funding Trust (CEP-Bank of Montreal) (SOFR + 0.34%) (Canada)<sup>(b)(d)</sup> <br>| 4.69% | 03/05/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
|  |  |  |  |  | &nbsp;&nbsp; 542654863 |
| Total Commercial Paper (Cost $4,162,034,006) | Total Commercial Paper (Cost $4,162,034,006) | Total Commercial Paper (Cost $4,162,034,006) | Total Commercial Paper (Cost $4,162,034,006) |  | &nbsp;&nbsp; 4162034006 |
| **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** |
| Australia & New Zealand Banking Group Ltd. (Cayman Islands)<sup>(d)</sup> <br>| 4.32% | 09/02/2025 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Bank of America N.A. | 4.49% | 01/07/2026 |  | 75000 | &nbsp;&nbsp; 75000000 |
| Bank of America N.A. | 4.24% | 03/02/2026 |  | 25000 | &nbsp;&nbsp; 25000000 |
| Bank of America N.A. (SOFR + 0.34%)<sup>(b)</sup> <br>| 4.70% | 04/27/2026 |  | 80000 | &nbsp;&nbsp; 80000000 |
| Barclays Bank PLC (SOFR + 0.35%) (United Kingdom)<sup>(b)(d)</sup> <br>| 4.69% | 10/15/2025 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Canadian Imperial Bank of Commerce (Canada)<sup>(d)</sup> <br>| 4.32% | 09/02/2025 |  | 90000 | &nbsp;&nbsp; 90000000 |
| Canadian Imperial Bank of Commerce (SOFR + 0.36%) (Canada)<sup>(b)(d)</sup> <br>| 4.70% | 11/17/2025 |  | 41000 | &nbsp;&nbsp; 41000000 |
| Canadian Imperial Bank of Commerce (SOFR + 0.40%) (Canada)<sup>(b)(d)</sup> <br>| 4.74% | 09/08/2026 |  | 80000 | &nbsp;&nbsp; 80000000 |
| Citibank N.A. (SOFR + 0.35%)<sup>(b)</sup> <br>| 4.69% | 10/27/2025 |  | 75000 | &nbsp;&nbsp; 75000000 |
| Cooperatieve Rabobank U.A. (Cayman Islands)<sup>(d)</sup> <br>| 4.32% | 09/02/2025 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Credit Agricole Corporate and Investment Bank<sup>(d)</sup> <br>| 4.34% | 04/30/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Credit Agricole Corporate And Investment Bank<sup>(d)</sup> <br>| 4.31% | 09/02/2025 |  | 200000 | &nbsp;&nbsp; 200000000 |
| KEB Hana Bank<sup>(d)</sup> <br>| 4.42% | 12/15/2025 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Korea Development Bank<sup>(d)</sup> <br>| 4.26% | 03/02/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Mitsubishi UFJ Trust & Banking Corp. (SOFR + 0.23%) (Japan)<sup>(b)(d)</sup> <br>| 4.57% | 12/11/2025 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Mitsubishi UFJ Trust & Banking Corp. (SOFR + 0.22%)<sup>(b)(d)</sup> <br>| 4.56% | 02/06/2026 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Mizuho Bank Ltd.<sup>(d)</sup> <br>| 4.33% | 09/02/2025 |  | 30000 | &nbsp;&nbsp; 30000000 |
| Mizuho Bank Ltd.<sup>(d)</sup> <br>| 4.33% | 09/02/2025 |  | 220000 | &nbsp;&nbsp; 220000000 |
| Mizuho Bank Ltd.<sup>(d)</sup> <br>| 4.36% | 09/02/2025 |  | 200000 | &nbsp;&nbsp; 200000000 |
| Standard Chartered Bank (SOFR + 0.26%) (United Kingdom)<sup>(b)(d)</sup> <br>| 4.60% | 02/06/2026 |  | 90000 | &nbsp;&nbsp; 90000000 |
| Sumitomo Mitsui Banking Corp. (SOFR + 0.22%)<sup>(b)(d)</sup> <br>| 4.56% | 02/26/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Swedbank AB<sup>(d)</sup> <br>| 4.31% | 04/24/2026 |  | 25000 | &nbsp;&nbsp; 25000000 |
| Toronto-Dominion Bank (Canada)<sup>(d)</sup> <br>| 4.38% | 07/09/2026 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Total Certificates of Deposit (Cost $1,981,000,000) | Total Certificates of Deposit (Cost $1,981,000,000) | Total Certificates of Deposit (Cost $1,981,000,000) | Total Certificates of Deposit (Cost $1,981,000,000) |  | &nbsp;&nbsp; 1981000000 |
| **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  |
| **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** |
| Altoona-Blair County Development Corp.; Series 2015, VRD Bonds (LOC - PNC Bank, <br> N.A.)<sup>(c)(f)</sup> <br>| 4.41% | 04/01/2035 |  | 17850 | &nbsp;&nbsp; 17850000 |
| Jets Stadium Development LLC; Series 2014 A-4B, VRD Bonds (LOC - Sumitomo Mitsui <br> Banking Corp.)<sup>(c)(d)(f)</sup> <br>| 4.80% | 04/01/2047 |  | 12600 | &nbsp;&nbsp; 12600000 |
| Jets Stadium Development LLC; Series 2014 A-4C, VRD Bonds (LOC - Sumitomo Mitsui <br> Banking Corp.)<sup>(c)(d)(f)</sup> <br>| 4.80% | 04/01/2047 |  | 27300 | &nbsp;&nbsp; 27300000 |
| Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank, N.A.)<sup>(f)</sup> <br>| 4.42% | 05/01/2037 |  | 13160 | &nbsp;&nbsp; 13160000 |
| Ziegler Realty LLC; Series 2007, VRD Notes (LOC - Wells Fargo Bank, N.A.)<sup>(c)(f)</sup> <br>| 4.48% | 01/01/2033 |  | 3800 | &nbsp;&nbsp; 3800000 |
|  |  |  |  |  | &nbsp;&nbsp; 74710000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**4**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** |
| Board of Regents of the University of Texas System; Series 2016, RB | 4.32% | 08/01/2045 |  | $27550 | &nbsp;&nbsp; $27550000 |
| Total Variable Rate Demand Notes (Cost $102,260,000) | Total Variable Rate Demand Notes (Cost $102,260,000) | Total Variable Rate Demand Notes (Cost $102,260,000) | Total Variable Rate Demand Notes (Cost $102,260,000) |  | &nbsp;&nbsp; 102260000 |
| TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) |  | &nbsp;&nbsp; 6245294006 |
|  |  |  | &nbsp;&nbsp; **Repurchase**<br> **Amount** | &nbsp;&nbsp; **Repurchase**<br> **Amount** |  |
| **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  |
| ABN AMRO Bank N.V., joint agreement dated 08/29/2025, aggregate maturing value of <br> $550,265,222 (collateralized by agency mortgage-backed securities and U.S. Treasury <br> obligations valued at $561,000,046; 0.38% - 7.00%; 04/30/2026 - 08/20/2055)<br>| 4.34% | 09/02/2025 |  | 100048222 | &nbsp;&nbsp; 100000000 |
| Bank of Nova Scotia, joint term agreement dated 08/25/2025, aggregate maturing value <br> of $400,397,666 (collateralized by corporate obligations and non-agency asset-backed <br> securities valued at $420,365,362; 2.26% - 10.08%; 05/01/2027 - <br> 11/22/2052)<sup>(d)(h)(i)</sup> <br>| 4.48% | 09/02/2025 |  | 50049708 | &nbsp;&nbsp; 50000000 |
| Bank of Nova Scotia, joint term agreement dated 08/25/2025, aggregate maturing value <br> of $600,600,500 (collateralized by equity securities valued at $630,378,305; <br> 0.00%)<sup>(d)(h)(i)</sup> <br>| 4.51% | 09/02/2025 |  | 240240200 | &nbsp;&nbsp; 240000000 |
| BMO Capital Markets Corp., joint term agreement dated 08/29/2025, aggregate maturing <br> value of $125,550,521 (collateralized by agency and non-agency asset-backed <br> securities, corporate obligations and non-agency mortgage-backed securities valued at <br> $133,974,061; 0.00% - 12.57%; 03/15/2027 - 08/25/2070)<sup>(d)(i)</sup> <br>| 4.53% | 10/03/2025 |  | 60264250 | &nbsp;&nbsp; 60000000 |
| BMO Capital Markets Corp., joint term agreement dated 08/29/2025, aggregate maturing <br> value of $577,515,625 (collateralized by corporate obligations, non-agency <br> asset-backed securities and non-agency mortgage-backed securities valued at <br> $603,750,677; 0.00% - 9.57%; 04/15/2026 - 05/25/2070)<sup>(d)(i)</sup> <br>| 4.50% | 10/03/2025 |  | 145634375 | &nbsp;&nbsp; 145000000 |
| BNP Paribas Securities Corp., joint term agreement dated 06/25/2025, aggregate <br> maturing value of $300,155,334 (collateralized by corporate obligations and <br> non-agency asset-backed securities valued at $329,765,156; 1.86% - 13.00%; <br> 02/15/2026 - 01/15/2084)<sup>(d)(h)(i)</sup> <br>| 4.66% | 09/02/2025 |  | 100051778 | &nbsp;&nbsp; 100000000 |
| BNP Paribas Securities Corp., joint term agreement dated 07/10/2025, aggregate <br> maturing value of $2,501,233,333 (collateralized by agency mortgage-backed <br> securities, U.S. government sponsored agency obligations and U.S. Treasury obligations <br> valued at $2,550,000,006; 0.00% - 8.00%; 09/04/2025 - 04/20/2065)<sup>(h)(i)</sup> <br>| 4.44% | 09/02/2025 |  | 45022200 | &nbsp;&nbsp; 45000000 |
| BNP Paribas Securities Corp., joint term agreement dated 07/30/2025, aggregate <br> maturing value of $300,153,666 (collateralized by agency and non-agency <br> mortgage-backed securities, corporate obligations and non-agency asset-backed <br> securities valued at $315,000,001; 0.63% - 8.75%; 09/12/2025 - <br> 10/31/2082)<sup>(d)(h)(i)</sup> <br>| 4.61% | 09/02/2025 |  | 150076833 | &nbsp;&nbsp; 150000000 |
| BNP Paribas Securities Corp., joint term agreement dated 08/27/2025, aggregate <br> maturing value of $300,258,417 (collateralized by corporate obligations, non-agency <br> asset-backed securities and non-agency mortgage-backed securities valued at <br> $315,000,489; 0.63% - 9.25%; 09/01/2025 - 07/01/2116)<sup>(d)(i)</sup> <br>| 4.43% | 09/03/2025 |  | 100086139 | &nbsp;&nbsp; 100000000 |
| Citigroup Global Markets, Inc., joint agreement dated 08/29/2025, aggregate maturing <br> value of $1,000,481,111 (collateralized by U.S. Treasury obligations valued at <br> $1,020,119,984; 0.13% - 6.25%; 04/30/2030 - 07/31/2030)<br>| 4.33% | 09/02/2025 |  | 250120278 | &nbsp;&nbsp; 250000000 |
| Credit Agricole Corporate & Investment Bank, joint open agreement dated 08/14/2025 <br> (collateralized by commercial paper, corporate obligations, non-agency asset-backed <br> securities and non-agency mortgage-backed securities valued at $317,082,606; <br> 0.00% - 9.50%; 09/21/2025 - 08/25/2067)<sup>(d)(j)</sup> <br>| 4.46% | 09/02/2025 |  | 50117250 | &nbsp;&nbsp; 50000000 |
| ING Financial Markets, LLC, joint agreement dated 08/29/2025, aggregate maturing value <br> of $400,195,556 (collateralized by equity securities valued at $420,000,006; <br> 0.00%)<sup>(d)</sup> <br>| 4.40% | 09/02/2025 |  | 90044000 | &nbsp;&nbsp; 90000000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**5**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Repurchase**<br> **Amount** | &nbsp;&nbsp; **Repurchase**<br> **Amount** | **Value** |
| J.P. Morgan Securities LLC, open agreement dated 07/17/2024 (collateralized by <br> commercial paper and corporate obligations valued at $192,499,391; 0.00% - <br> 12.50%; 04/30/2026 - 08/30/2033)<sup>(j)</sup> <br>| 4.63% | 09/02/2025 |  | $175720222 | &nbsp;&nbsp; $175000000 |
| Mitsubishi UFJ Trust & Banking Corp., agreement dated 08/29/2025, maturing value of <br> $50,024,667 (collateralized by agency mortgage-backed securities valued at <br> $51,000,000; 4.77% - 5.54%; 09/16/2044 - 04/20/2072)<sup>(d)</sup> <br>| 4.44% | 09/02/2025 |  | 50024667 | &nbsp;&nbsp; 50000000 |
| Mizuho Securities (USA) LLC, joint open agreement dated 05/05/2025 (collateralized by <br> equity securities valued at $84,000,230; 0.00%)<sup>(d)(j)</sup> <br>| 4.48% | 09/02/2025 |  | 30014933 | &nbsp;&nbsp; 30000000 |
| RBC Capital Markets LLC, joint term agreement dated 08/26/2025, aggregate maturing <br> value of $150,131,250 (collateralized by corporate obligations valued at <br> $164,656,880; 0.00% - 12.75%; 09/01/2025 - 10/01/2097)<sup>(d)(i)</sup> <br>| 4.50% | 09/02/2025 |  | 30026250 | &nbsp;&nbsp; 30000000 |
| Societe Generale, open agreement dated 07/17/2024 (collateralized by corporate <br> obligations, non-agency asset-backed securities, non-agency mortgage-backed <br> securities and U.S. Treasury obligations valued at $86,609,925; 0.00% - 13.50%; <br> 09/15/2025 - 08/15/2076)<sup>(d)(j)</sup> <br>| 4.51% | 09/02/2025 |  | 80040089 | &nbsp;&nbsp; 80000000 |
| Standard Chartered Bank, joint agreement dated 08/29/2025, aggregate maturing value <br> of $4,001,924,444 (collateralized by U.S. Treasury obligations valued at <br> $4,081,962,968; 0.00% - 4.88%; 10/02/2025 - 02/15/2054)<br>| 4.33% | 09/02/2025 |  | 1453776621 | &nbsp;&nbsp; 1453077529 |
| TD Securities (USA) LLC, joint term agreement dated 08/26/2025, aggregate maturing <br> value of $250,214,375 (collateralized by corporate obligations valued at <br> $262,504,831; 1.05% - 6.00%; 09/14/2026 - 06/30/2059)<sup>(d)(i)</sup> <br>| 4.41% | 09/02/2025 |  | 50042875 | &nbsp;&nbsp; 50000000 |
| Wells Fargo Securities, LLC, term agreement dated 08/29/2025, maturing value of <br> $278,698,139 (collateralized by corporate obligations, non-agency asset-backed <br> securities and a non-agency mortgage-backed security valued at $294,801,020; <br> 0.00% - 22.00%; 09/01/2025 - 07/15/2060)<br>| 4.94% | 12/05/2025 |  | 278698139 | &nbsp;&nbsp; 275000000 |
| Total Repurchase Agreements (Cost $3,523,077,529) | Total Repurchase Agreements (Cost $3,523,077,529) | Total Repurchase Agreements (Cost $3,523,077,529) | Total Repurchase Agreements (Cost $3,523,077,529) |  | &nbsp;&nbsp; 3523077529 |
| TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) | TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) | TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) | TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) |  | &nbsp;&nbsp; 9768371535 |
| OTHER ASSETS LESS LIABILITIES-(0.71)% | OTHER ASSETS LESS LIABILITIES-(0.71)% | OTHER ASSETS LESS LIABILITIES-(0.71)% | OTHER ASSETS LESS LIABILITIES-(0.71)% |  | &nbsp;&nbsp; (68768937)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% |  | &nbsp;&nbsp; $9699602598 |

---

Investment Abbreviations:

---

| | |
|:---|:---|
| CEP | -Credit Enhancement Provider |
| LOC | -Letter of Credit |
| OBFR | -Overnight Bank Funding Rate |
| RB | -Revenue Bonds |
| SOFR | -Secured Overnight Financing Rate |
| VRD | -Variable Rate Demand |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**6**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

Notes to Schedule of Investments:

<sup>(a)</sup> Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.

<sup>(b)</sup> Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2025.

<sup>(c)</sup> Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at August 31, 2025 was $3,581,610,147, which represented 36.93% of the Fund's Net Assets. 

<sup>(d)</sup> The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: Canada: 17.6%; France: 15.8%; Japan: 9.0%; United Kingdom: 8.0%; Netherlands: 6.3%; other countries less than 5% each: 11.8%. 

<sup>(e)</sup> Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on August 31, 2025. 

<sup>(f)</sup> Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

<sup>(g)</sup> Principal amount equals value at period end. See Note 1J.

<sup>(h)</sup> Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

<sup>(i)</sup> The Fund may demand payment of the term repurchase agreement upon one to seven business days' notice depending on the timing of the demand.

<sup>(j)</sup> Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date. 

<sup>(k)</sup> Also represents cost for federal income tax purposes.

<sup>(l)</sup> Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer's obligations but may be called upon to satisfy the issuer's obligations. No concentration of any single entity was greater than 5% each. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**7**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments**

*August 31, 2025*

**Invesco Premier U.S. Government Money Portfolio**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **U.S. Treasury Securities-25.27%** | **U.S. Treasury Securities-25.27%** | **U.S. Treasury Securities-25.27%** | **U.S. Treasury Securities-25.27%** | **U.S. Treasury Securities-25.27%** | **U.S. Treasury Securities-25.27%** |
| **U.S. Treasury Bills-23.83%**<sup>(a)</sup> | **U.S. Treasury Bills-23.83%**<sup>(a)</sup> | **U.S. Treasury Bills-23.83%**<sup>(a)</sup> | **U.S. Treasury Bills-23.83%**<sup>(a)</sup> | **U.S. Treasury Bills-23.83%**<sup>(a)</sup> | **U.S. Treasury Bills-23.83%**<sup>(a)</sup> |
| U.S. Treasury Bills | 4.31% | 09/09/2025 |  | $25000 | &nbsp;&nbsp; $24976111 |
| U.S. Treasury Bills | 4.18% | 09/11/2025 |  | 500000 | &nbsp;&nbsp; 499431944 |
| U.S. Treasury Bills | 4.19% | 09/18/2025 |  | 150000 | &nbsp;&nbsp; 149709583 |
| U.S. Treasury Bills | 4.13%-4.21% | 10/02/2025 |  | 160000 | &nbsp;&nbsp; 159449061 |
| U.S. Treasury Bills | 4.19% | 10/09/2025 |  | 240000 | &nbsp;&nbsp; 238992683 |
| U.S. Treasury Bills | 4.19% | 10/14/2025 |  | 150000 | &nbsp;&nbsp; 149266575 |
| U.S. Treasury Bills | 4.15% | 10/16/2025 |  | 175000 | &nbsp;&nbsp; 174111875 |
| U.S. Treasury Bills | 4.22% | 10/21/2025 |  | 500000 | &nbsp;&nbsp; 497086545 |
| U.S. Treasury Bills | 4.28% | 10/30/2025 |  | 45000 | &nbsp;&nbsp; 44697625 |
| U.S. Treasury Bills | 4.17% | 11/06/2025 |  | 250000 | &nbsp;&nbsp; 248107083 |
| U.S. Treasury Bills | 4.21% | 11/12/2025 |  | 500000 | &nbsp;&nbsp; 495840000 |
| U.S. Treasury Bills | 4.17%-4.19% | 11/13/2025 |  | 175000 | &nbsp;&nbsp; 173531712 |
| U.S. Treasury Bills | 4.38% | 11/28/2025 |  | 200000 | &nbsp;&nbsp; 197951556 |
| U.S. Treasury Bills | 4.17% | 12/02/2025 |  | 300000 | &nbsp;&nbsp; 296845470 |
| U.S. Treasury Bills | 4.15% | 12/09/2025 |  | 150000 | &nbsp;&nbsp; 148312731 |
| U.S. Treasury Bills | 4.05%-4.06% | 02/05/2026 |  | 990000 | &nbsp;&nbsp; 972821867 |
| U.S. Treasury Bills | 4.00%-4.05% | 02/12/2026 |  | 400000 | &nbsp;&nbsp; 392808999 |
| U.S. Treasury Bills | 4.03% | 02/19/2026 |  | 50000 | &nbsp;&nbsp; 49063062 |
| U.S. Treasury Bills | 4.11%-4.12% | 03/19/2026 |  | 150000 | &nbsp;&nbsp; 146723410 |
| U.S. Treasury Bills | 4.07%-4.12% | 07/09/2026 |  | 500000 | &nbsp;&nbsp; 483009897 |
| U.S. Treasury Bills | 3.91% | 08/06/2026 |  | 100000 | &nbsp;&nbsp; 96453683 |
|  |  |  |  |  | &nbsp;&nbsp; 5639191472 |
| **U.S. Treasury Floating Rate Notes-0.91%** | **U.S. Treasury Floating Rate Notes-0.91%** | **U.S. Treasury Floating Rate Notes-0.91%** | **U.S. Treasury Floating Rate Notes-0.91%** | **U.S. Treasury Floating Rate Notes-0.91%** | **U.S. Treasury Floating Rate Notes-0.91%** |
| U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate <br> + 0.25%)<sup>(b)</sup> <br>| 4.39% | 01/31/2026 |  | 100000 | &nbsp;&nbsp; 100016526 |
| U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate <br> + 0.16%)<sup>(b)</sup> <br>| 4.30% | 04/30/2027 |  | 115000 | &nbsp;&nbsp; 115026675 |
|  |  |  |  |  | &nbsp;&nbsp; 215043201 |
| **U.S. Treasury Notes-0.53%** | **U.S. Treasury Notes-0.53%** | **U.S. Treasury Notes-0.53%** | **U.S. Treasury Notes-0.53%** | **U.S. Treasury Notes-0.53%** | **U.S. Treasury Notes-0.53%** |
| U.S. Treasury Notes | 4.63% | 06/30/2026 |  | 125000 | &nbsp;&nbsp; 125700440 |
| Total U.S. Treasury Securities (Cost $5,979,935,113) | Total U.S. Treasury Securities (Cost $5,979,935,113) | Total U.S. Treasury Securities (Cost $5,979,935,113) | Total U.S. Treasury Securities (Cost $5,979,935,113) |  | &nbsp;&nbsp; 5979935113 |
| **U.S. Government Sponsored Agency Securities-14.26%** | **U.S. Government Sponsored Agency Securities-14.26%** | **U.S. Government Sponsored Agency Securities-14.26%** | **U.S. Government Sponsored Agency Securities-14.26%** | **U.S. Government Sponsored Agency Securities-14.26%** | **U.S. Government Sponsored Agency Securities-14.26%** |
| **Federal Farm Credit Bank (FFCB)-11.60%** | **Federal Farm Credit Bank (FFCB)-11.60%** | **Federal Farm Credit Bank (FFCB)-11.60%** | **Federal Farm Credit Bank (FFCB)-11.60%** | **Federal Farm Credit Bank (FFCB)-11.60%** | **Federal Farm Credit Bank (FFCB)-11.60%** |
| Federal Farm Credit Bank (SOFR + 0.16%)<sup>(b)</sup> <br>| 4.50% | 09/15/2025 |  | 30000 | &nbsp;&nbsp; 30000893 |
| Federal Farm Credit Bank (SOFR + 0.16%)<sup>(b)</sup> <br>| 4.50% | 11/28/2025 |  | 30000 | &nbsp;&nbsp; 30000000 |
| Federal Farm Credit Bank (SOFR + 0.16%)<sup>(b)</sup> <br>| 4.50% | 12/01/2025 |  | 15000 | &nbsp;&nbsp; 15000000 |
| Federal Farm Credit Bank (SOFR + 0.08%)<sup>(b)</sup> <br>| 4.42% | 12/12/2025 |  | 30000 | &nbsp;&nbsp; 30000000 |
| Federal Farm Credit Bank (SOFR + 0.15%)<sup>(b)</sup> <br>| 4.49% | 12/15/2025 |  | 20000 | &nbsp;&nbsp; 20000000 |
| Federal Farm Credit Bank (SOFR + 0.15%)<sup>(b)</sup> <br>| 4.49% | 12/29/2025 |  | 45000 | &nbsp;&nbsp; 45000000 |
| Federal Farm Credit Bank (1 mo. EFFR + 0.06%)<sup>(b)</sup> <br>| 4.39% | 01/16/2026 |  | 30000 | &nbsp;&nbsp; 30000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 01/30/2026 |  | 10000 | &nbsp;&nbsp; 10000000 |
| Federal Farm Credit Bank (SOFR + 0.09%)<sup>(b)</sup> <br>| 4.43% | 02/02/2026 |  | 40000 | &nbsp;&nbsp; 40000000 |
| Federal Farm Credit Bank (SOFR + 0.12%)<sup>(b)</sup> <br>| 4.46% | 03/12/2026 |  | 43000 | &nbsp;&nbsp; 43000000 |
| Federal Farm Credit Bank (SOFR + 0.11%)<sup>(b)</sup> <br>| 4.45% | 03/18/2026 |  | 49000 | &nbsp;&nbsp; 49000000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**8**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier U.S. Government Money Portfolio—(continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Federal Farm Credit Bank (FFCB)-(continued)** | **Federal Farm Credit Bank (FFCB)-(continued)** | **Federal Farm Credit Bank (FFCB)-(continued)** | **Federal Farm Credit Bank (FFCB)-(continued)** | **Federal Farm Credit Bank (FFCB)-(continued)** |
| Federal Farm Credit Bank (SOFR + 0.02%)<sup>(b)</sup> <br>| 4.36% | 03/26/2026 | $35000 | &nbsp;&nbsp; $35000000 |
| Federal Farm Credit Bank (SOFR + 0.11%)<sup>(b)</sup> <br>| 4.45% | 03/26/2026 | 90000 | &nbsp;&nbsp; 90000000 |
| Federal Farm Credit Bank (1 mo. EFFR + 0.10%)<sup>(b)</sup> <br>| 4.43% | 04/01/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Federal Farm Credit Bank (SOFR + 0.11%)<sup>(b)</sup> <br>| 4.45% | 04/09/2026 | 30000 | &nbsp;&nbsp; 30000000 |
| Federal Farm Credit Bank (SOFR + 0.10%)<sup>(b)</sup> <br>| 4.44% | 06/03/2026 | 52000 | &nbsp;&nbsp; 52000000 |
| Federal Farm Credit Bank (SOFR + 0.10%)<sup>(b)</sup> <br>| 4.44% | 06/18/2026 | 10000 | &nbsp;&nbsp; 10000000 |
| Federal Farm Credit Bank (SOFR + 0.10%)<sup>(b)</sup> <br>| 4.44% | 07/01/2026 | 70000 | &nbsp;&nbsp; 70000000 |
| Federal Farm Credit Bank (SOFR + 0.12%)<sup>(b)</sup> <br>| 4.46% | 07/23/2026 | 10000 | &nbsp;&nbsp; 10000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 08/26/2026 | 10000 | &nbsp;&nbsp; 10000000 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(b)</sup> <br>| 4.47% | 08/28/2026 | 70000 | &nbsp;&nbsp; 70000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 09/04/2026 | 74000 | &nbsp;&nbsp; 74000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 09/09/2026 | 214000 | &nbsp;&nbsp; 214026486 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 09/25/2026 | 215000 | &nbsp;&nbsp; 215000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 10/01/2026 | 75000 | &nbsp;&nbsp; 75000000 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(b)</sup> <br>| 4.47% | 10/06/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 10/15/2026 | 61000 | &nbsp;&nbsp; 61000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 11/23/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 12/02/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| Federal Farm Credit Bank (SOFR + 0.07%)<sup>(b)</sup> <br>| 4.41% | 12/07/2026 | 25000 | &nbsp;&nbsp; 25000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 12/09/2026 | 65000 | &nbsp;&nbsp; 65000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 12/18/2026 | 124000 | &nbsp;&nbsp; 124000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 12/30/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 01/14/2027 | 14000 | &nbsp;&nbsp; 14000000 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(b)</sup> <br>| 4.47% | 02/03/2027 | 25000 | &nbsp;&nbsp; 25000000 |
| Federal Farm Credit Bank (SOFR + 0.08%)<sup>(b)</sup> <br>| 4.42% | 03/11/2027 | 35000 | &nbsp;&nbsp; 35000000 |
| Federal Farm Credit Bank (SOFR + 0.07%)<sup>(b)</sup> <br>| 4.41% | 03/24/2027 | 80000 | &nbsp;&nbsp; 80000000 |
| Federal Farm Credit Bank (SOFR + 0.07%)<sup>(b)</sup> <br>| 4.41% | 03/26/2027 | 50000 | &nbsp;&nbsp; 50000000 |
| Federal Farm Credit Bank (SOFR + 0.08%)<sup>(b)</sup> <br>| 4.42% | 04/02/2027 | 65000 | &nbsp;&nbsp; 65000000 |
| Federal Farm Credit Bank (SOFR + 0.08%)<sup>(b)</sup> <br>| 4.42% | 04/09/2027 | 50000 | &nbsp;&nbsp; 50000000 |
| Federal Farm Credit Bank (SOFR + 0.11%)<sup>(b)</sup> <br>| 4.45% | 05/13/2027 | 70000 | &nbsp;&nbsp; 70000000 |
| Federal Farm Credit Bank (SOFR + 0.11%)<sup>(b)</sup> <br>| 4.45% | 05/14/2027 | 6000 | &nbsp;&nbsp; 6000000 |
| Federal Farm Credit Bank (SOFR + 0.10%)<sup>(b)</sup> <br>| 4.44% | 06/29/2027 | 20000 | &nbsp;&nbsp; 20000000 |
| Federal Farm Credit Bank (SOFR + 0.11%)<sup>(b)</sup> <br>| 4.45% | 07/21/2027 | 75000 | &nbsp;&nbsp; 75000000 |
| Federal Farm Credit Bank (SOFR + 0.12%)<sup>(b)</sup> <br>| 4.46% | 07/27/2027 | 35000 | &nbsp;&nbsp; 35000000 |
| Federal Farm Credit Bank (SOFR + 0.12%)<sup>(b)</sup> <br>| 4.46% | 07/30/2027 | 200000 | &nbsp;&nbsp; 200000000 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(b)</sup> <br>| 4.47% | 09/02/2027 | 97000 | &nbsp;&nbsp; 97000000 |
|  |  |  |  | &nbsp;&nbsp; 2744027379 |
| **Federal Home Loan Bank (FHLB)-2.60%** | **Federal Home Loan Bank (FHLB)-2.60%** | **Federal Home Loan Bank (FHLB)-2.60%** | **Federal Home Loan Bank (FHLB)-2.60%** | **Federal Home Loan Bank (FHLB)-2.60%** |
| Federal Home Loan Bank (SOFR + 0.15%)<sup>(b)</sup> <br>| 4.49% | 12/08/2025 | 50000 | &nbsp;&nbsp; 50000000 |
| Federal Home Loan Bank (SOFR + 0.15%)<sup>(b)</sup> <br>| 4.49% | 12/11/2025 | 15000 | &nbsp;&nbsp; 15000000 |
| Federal Home Loan Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.34% | 01/12/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| Federal Home Loan Bank<sup>(a)</sup> <br>| 4.03% | 02/02/2026 | 38000 | &nbsp;&nbsp; 37357905 |
| Federal Home Loan Bank<sup>(a)</sup> <br>| 4.03% | 02/05/2026 | 10000 | &nbsp;&nbsp; 9827736 |
| Federal Home Loan Bank<sup>(a)</sup> <br>| 4.00% | 03/06/2026 | 110000 | &nbsp;&nbsp; 107777817 |
| Federal Home Loan Bank (SOFR + 0.10%)<sup>(b)</sup> <br>| 4.44% | 05/13/2026 | 100000 | &nbsp;&nbsp; 100000000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**9**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier U.S. Government Money Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Federal Home Loan Bank (FHLB)-(continued)** | **Federal Home Loan Bank (FHLB)-(continued)** | **Federal Home Loan Bank (FHLB)-(continued)** | **Federal Home Loan Bank (FHLB)-(continued)** | **Federal Home Loan Bank (FHLB)-(continued)** | **Federal Home Loan Bank (FHLB)-(continued)** |
| Federal Home Loan Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 09/24/2026 |  | $20000 | &nbsp;&nbsp; $20000000 |
| Federal Home Loan Bank (SOFR + 0.08%)<sup>(b)</sup> <br>| 4.42% | 04/08/2027 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Federal Home Loan Bank (SOFR + 0.11%)<sup>(b)</sup> <br>| 4.45% | 07/19/2027 |  | 75000 | &nbsp;&nbsp; 75000000 |
|  |  |  |  |  | &nbsp;&nbsp; 614963458 |
| **U.S. International Development Finance Corp. (DFC)-0.06%**<sup>(c)</sup> | **U.S. International Development Finance Corp. (DFC)-0.06%**<sup>(c)</sup> | **U.S. International Development Finance Corp. (DFC)-0.06%**<sup>(c)</sup> | **U.S. International Development Finance Corp. (DFC)-0.06%**<sup>(c)</sup> | **U.S. International Development Finance Corp. (DFC)-0.06%**<sup>(c)</sup> | **U.S. International Development Finance Corp. (DFC)-0.06%**<sup>(c)</sup> |
| U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill <br> Rate)<br>| 4.50% | 09/15/2025 |  | 158 | &nbsp;&nbsp; 157895 |
| U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill <br> Rate)<br>| 4.55% | 11/15/2025 |  | 421 | &nbsp;&nbsp; 421052 |
| U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill <br> Rate)<br>| 4.50% | 09/15/2026 |  | 1250 | &nbsp;&nbsp; 1250000 |
| U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill <br> Rate)<br>| 4.56% | 09/15/2026 |  | 1042 | &nbsp;&nbsp; 1041667 |
| U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill <br> Rate)<br>| 4.50% | 12/15/2026 |  | 900 | &nbsp;&nbsp; 900000 |
| U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill <br> Rate)<br>| 4.50% | 06/20/2027 |  | 2000 | &nbsp;&nbsp; 1999996 |
| U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill <br> Rate)<br>| 4.50% | 06/20/2027 |  | 1333 | &nbsp;&nbsp; 1333331 |
| U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill <br> Rate)<br>| 4.50% | 06/20/2028 |  | 5538 | &nbsp;&nbsp; 5538461 |
| U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill <br> Rate)<br>| 4.50% | 10/15/2030 |  | 2917 | &nbsp;&nbsp; 2916667 |
|  |  |  |  |  | &nbsp;&nbsp; 15559069 |
| Total U.S. Government Sponsored Agency Securities (Cost $3,374,549,906) | Total U.S. Government Sponsored Agency Securities (Cost $3,374,549,906) | Total U.S. Government Sponsored Agency Securities (Cost $3,374,549,906) | Total U.S. Government Sponsored Agency Securities (Cost $3,374,549,906) |  | &nbsp;&nbsp; 3374549906 |
| **U.S. Government Sponsored Agency Mortgage-Backed Securities-4.21%** | **U.S. Government Sponsored Agency Mortgage-Backed Securities-4.21%** | **U.S. Government Sponsored Agency Mortgage-Backed Securities-4.21%** | **U.S. Government Sponsored Agency Mortgage-Backed Securities-4.21%** | **U.S. Government Sponsored Agency Mortgage-Backed Securities-4.21%** | **U.S. Government Sponsored Agency Mortgage-Backed Securities-4.21%** |
| **Federal Home Loan Mortgage Corp. (FHLMC)-2.50%** | **Federal Home Loan Mortgage Corp. (FHLMC)-2.50%** | **Federal Home Loan Mortgage Corp. (FHLMC)-2.50%** | **Federal Home Loan Mortgage Corp. (FHLMC)-2.50%** | **Federal Home Loan Mortgage Corp. (FHLMC)-2.50%** | **Federal Home Loan Mortgage Corp. (FHLMC)-2.50%** |
| Federal Home Loan Mortgage Corp. (SOFR + 0.10%)<sup>(b)</sup> <br>| 4.44% | 02/09/2026 |  | 147000 | &nbsp;&nbsp; 147000000 |
| Federal Home Loan Mortgage Corp. (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 09/04/2026 |  | 105000 | &nbsp;&nbsp; 105000000 |
| Federal Home Loan Mortgage Corp. (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 10/16/2026 |  | 40000 | &nbsp;&nbsp; 40000000 |
| Federal Home Loan Mortgage Corp. (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 10/29/2026 |  | 25000 | &nbsp;&nbsp; 25000000 |
| Federal Home Loan Mortgage Corp. (SOFR + 0.13%)<sup>(b)</sup> <br>| 4.47% | 04/23/2027 |  | 125000 | &nbsp;&nbsp; 125000000 |
| Federal Home Loan Mortgage Corp. (SOFR + 0.10%)<sup>(b)</sup> <br>| 4.44% | 06/16/2027 |  | 100000 | &nbsp;&nbsp; 99974988 |
| Federal Home Loan Mortgage Corp. (SOFR + 0.12%)<sup>(b)</sup> <br>| 4.46% | 08/11/2027 |  | 50000 | &nbsp;&nbsp; 50000000 |
|  |  |  |  |  | &nbsp;&nbsp; 591974988 |
| **Federal National Mortgage Association (FNMA)-1.71%** | **Federal National Mortgage Association (FNMA)-1.71%** | **Federal National Mortgage Association (FNMA)-1.71%** | **Federal National Mortgage Association (FNMA)-1.71%** | **Federal National Mortgage Association (FNMA)-1.71%** | **Federal National Mortgage Association (FNMA)-1.71%** |
| Federal National Mortgage Association (SOFR + 0.10%)<sup>(b)</sup> <br>| 4.44% | 06/18/2026 |  | 38500 | &nbsp;&nbsp; 38500000 |
| Federal National Mortgage Association (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 08/21/2026 |  | 85000 | &nbsp;&nbsp; 85000000 |
| Federal National Mortgage Association (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 09/11/2026 |  | 70000 | &nbsp;&nbsp; 70000000 |
| Federal National Mortgage Association (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 11/20/2026 |  | 35000 | &nbsp;&nbsp; 35000000 |
| Federal National Mortgage Association (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 12/11/2026 |  | 175000 | &nbsp;&nbsp; 175000000 |
|  |  |  |  |  | &nbsp;&nbsp; 403500000 |
| Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $995,474,988) | Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $995,474,988) | Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $995,474,988) | Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $995,474,988) |  | &nbsp;&nbsp; 995474988 |
| TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-43.74% <br>(Cost $10,349,960,007) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-43.74% <br>(Cost $10,349,960,007) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-43.74% <br>(Cost $10,349,960,007) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-43.74% <br>(Cost $10,349,960,007) |  | &nbsp;&nbsp; 10349960007 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**10**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier U.S. Government Money Portfolio—(continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Repurchase**<br> **Amount** | **Value** |
| **Repurchase Agreements-57.95%**<sup>(d)</sup>  | **Repurchase Agreements-57.95%**<sup>(d)</sup>  | **Repurchase Agreements-57.95%**<sup>(d)</sup>  | **Repurchase Agreements-57.95%**<sup>(d)</sup>  | **Repurchase Agreements-57.95%**<sup>(d)</sup>  |
| Bank of Nova Scotia, joint agreement dated 08/29/2025, aggregate maturing <br> value of $1,200,578,667 (collateralized by agency mortgage-backed <br> securities and U.S. Treasury obligations valued at $1,224,000,051; 0.38% - <br> 6.50%; 09/30/2025 - 07/01/2055)<br>| 4.34% | 09/02/2025 | $600289333 | &nbsp;&nbsp; $600000000 |
| BMO Capital Markets Corp., joint agreement dated 08/29/2025, aggregate <br> maturing value of $1,500,723,333 (collateralized by agency mortgage-<br> backed securities valued at $1,530,000,000; 0.13% - 6.50%; 02/15/2026 <br> - 08/20/2065)<br>| 4.34% | 09/02/2025 | 500241111 | &nbsp;&nbsp; 500000000 |
| BMO Capital Markets Corp., joint term agreement dated 08/29/2025, aggregate <br> maturing value of $1,506,387,500 (collateralized by agency mortgage-<br> backed securities valued at $1,530,000,006; 0.13% - 5.85%; 05/20/2031 <br> - 11/20/2072)<sup>(e)</sup> <br>| 4.38% | 10/03/2025 | 281192333 | &nbsp;&nbsp; 280000000 |
| BNP Paribas Securities Corp., joint term agreement dated 02/10/2025, <br> aggregate maturing value of $1,400,687,555 (collateralized by U.S. Treasury <br> obligations valued at $1,428,000,181; 0.00% - 4.88%; 10/14/2025 - <br> 02/15/2054)<sup>(e)(f)</sup> <br>| 4.42% | 09/02/2025 | 200098222 | &nbsp;&nbsp; 200000000 |
| BNP Paribas Securities Corp., joint term agreement dated 07/10/2025, <br> aggregate maturing value of $2,501,233,333 (collateralized by agency <br> mortgage-backed securities, U.S. government sponsored agency obligations <br> and U.S. Treasury obligations valued at $2,550,000,006; 0.00% - 8.00%; <br> 09/04/2025 - 04/20/2065)<sup>(e)(f)</sup> <br>| 4.44% | 09/02/2025 | 400197333 | &nbsp;&nbsp; 400000000 |
| BNP Paribas Securities Corp., joint term agreement dated 07/28/2025, <br> aggregate maturing value of $2,000,984,445 (collateralized by agency <br> mortgage-backed securities and U.S. Treasury obligations valued at <br> $2,040,000,000; 0.00% - 8.00%; 10/25/2025 - 04/20/2065)<sup>(e)(f)</sup> <br>| 4.43% | 09/02/2025 | 600295333 | &nbsp;&nbsp; 600000000 |
| BNP Paribas Securities Corp., joint term agreement dated 08/20/2025, <br> aggregate maturing value of $4,143,991,111 (collateralized by U.S. Treasury <br> obligations valued at $4,080,000,237; 0.13% - 4.63%; 05/15/2026 - <br> 08/15/2054)<sup>(e)</sup> <br>| 3.88% | 07/20/2026 | 621598667 | &nbsp;&nbsp; 600000000 |
| BofA Securities, Inc., joint term agreement dated 04/22/2025, aggregate <br> maturing value of $2,000,980,000 (collateralized by agency mortgage-<br> backed securities valued at $2,040,000,000; 1.00% - 8.35%; 10/15/2033 <br> - 08/20/2075)<sup>(e)(f)</sup> <br>| 4.41% | 09/02/2025 | 350171500 | &nbsp;&nbsp; 350000000 |
| BofA Securities, Inc., joint term agreement dated 04/23/2025, aggregate <br> maturing value of $1,000,490,000 (collateralized by agency mortgage-<br> backed securities valued at $1,020,000,000; 0.13% - 8.10%; 06/25/2028 <br> - 07/20/2075)<sup>(e)(f)</sup> <br>| 4.41% | 09/02/2025 | 175085750 | &nbsp;&nbsp; 175000000 |
| BofA Securities, Inc., joint term agreement dated 07/28/2025, aggregate <br> maturing value of $1,750,863,333 (collateralized by U.S. Treasury <br> obligations valued at $1,785,000,406; 0.38% - 5.00%; 08/31/2025 - <br> 05/15/2053)<sup>(e)(f)</sup> <br>| 4.44% | 09/02/2025 | 240118400 | &nbsp;&nbsp; 240000000 |
| BofA Securities, Inc., joint term agreement dated 07/29/2025, aggregate <br> maturing value of $1,000,495,556 (collateralized by agency mortgage-<br> backed securities valued at $1,020,000,000; 2.00% - 7.50%; 05/15/2032 <br> - 01/20/2074)<sup>(e)(f)</sup> <br>| 4.46% | 09/02/2025 | 200099111 | &nbsp;&nbsp; 200000000 |
| Citigroup Global Markets, Inc., joint term agreement dated 07/31/2025, <br> aggregate maturing value of $252,872,222 (collateralized by agency <br> mortgage-backed securities valued at $255,001,008; 4.50% - 8.00%; <br> 06/01/2054 - 01/15/2060)<br>| 4.40% | 11/03/2025 | 101148889 | &nbsp;&nbsp; 100000000 |
| Citigroup Global Markets, Inc., joint term agreement dated 08/27/2025, <br> aggregate maturing value of $500,424,861 (collateralized by agency <br> mortgage-backed securities valued at $510,000,000; 0.13% - 7.00%; <br> 06/25/2033 - 11/16/2066)<sup>(e)</sup> <br>| 4.37% | 09/03/2025 | 250212431 | &nbsp;&nbsp; 250000000 |
| Credit Agricole Corporate & Investment Bank, joint agreement dated <br> 08/29/2025, aggregate maturing value of $1,500,721,667 (collateralized <br> by U.S. Treasury obligations valued at $1,530,000,060; 1.88% - 4.75%; <br> 02/15/2042 - 08/15/2053)<br>| 4.33% | 09/02/2025 | 300144333 | &nbsp;&nbsp; 300000000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**11**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier U.S. Government Money Portfolio—(continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Repurchase**<br> **Amount** | **Value** |
| Fixed Income Clearing Corp. - Bank of New York Mellon (The), joint agreement <br> dated 08/29/2025, aggregate maturing value of $5,502,646,111 <br> (collateralized by U.S. Treasury obligations valued at $5,610,000,238; <br> 0.13% - 4.50%; 03/31/2027 - 02/15/2054)<br>| 4.33% | 09/02/2025 | $1600769778 | &nbsp;&nbsp; $1600000000 |
| Fixed Income Clearing Corp. - BNP Paribas Securities Corp., joint agreement dated <br> 08/29/2025, aggregate maturing value of $5,502,646,111 (collateralized <br> by U.S. Treasury obligations valued at $5,610,000,055; 0.00% - 6.63%; <br> 09/04/2025 - 08/15/2055)<br>| 4.33% | 09/02/2025 | 1150553278 | &nbsp;&nbsp; 1150000000 |
| Fixed Income Clearing Corp. - Wells Fargo Bank, N.A., joint agreement dated <br> 08/29/2025, aggregate maturing value of $4,502,165,000 (collateralized <br> by U.S. Treasury obligations valued at $4,590,000,183; 0.00% - 4.63%; <br> 10/21/2025 - 05/15/2053)<br>| 4.33% | 09/02/2025 | 400192444 | &nbsp;&nbsp; 400000000 |
| Fixed Income Clearing Corp. - Wells Fargo Bank, N.A., joint term agreement dated <br> 08/26/2025, aggregate maturing value of $720,085,999 (collateralized by <br> U.S. Treasury obligations valued at $734,400,126; 0.00% - 4.75%; <br> 10/21/2025 - 08/15/2052)<sup>(g)</sup> <br>| 4.30% | 11/07/2025 | 120014333 | &nbsp;&nbsp; 120000000 |
| Fixed Income Clearing Corp. - Wells Fargo Bank, N.A., joint term agreement dated <br> 08/29/2025, aggregate maturing value of $2,150,256,805 (collateralized <br> by U.S. Treasury obligations valued at $2,193,000,423; 0.00% - 4.75%; <br> 10/21/2025 - 08/15/2055)<sup>(g)</sup> <br>| 4.30% | 10/29/2025 | 313037386 | &nbsp;&nbsp; 313000000 |
| J.P. Morgan Securities LLC, joint open agreement dated 09/17/2024 <br> (collateralized by agency mortgage-backed securities and U.S. Treasury <br> obligations valued at $1,020,000,006; 0.00% - 7.50%; 12/25/2026 - <br> 05/20/2055)<sup>(h)</sup> <br>| 4.38% | 09/02/2025 | 65253464 | &nbsp;&nbsp; 65000000 |
| Metropolitan Life Insurance Co., joint term agreement dated 08/27/2025, <br> aggregate maturing value of $350,304,095 (collateralized by U.S. Treasury <br> obligations valued at $357,049,922; 0.00%; 02/15/2043 - 08/15/2046)<sup>(e)</sup> <br>| 4.38% | 09/03/2025 | 40035599 | &nbsp;&nbsp; 40001531 |
| Mitsubishi UFJ Trust & Banking Corp., joint term agreement dated 08/27/2025, <br> aggregate maturing value of $1,882,326,751 (collateralized by U.S. Treasury <br> obligations valued at $1,926,267,830; 1.13% - 4.38%; 01/31/2027 - <br> 11/15/2040)<sup>(e)</sup> <br>| 4.38% | 09/03/2025 | 132487739 | &nbsp;&nbsp; 132375000 |
| Natixis, joint agreement dated 08/29/2025, aggregate maturing value of <br> $1,000,482,222 (collateralized by agency mortgage-backed securities, U.S. <br> government sponsored agency obligations, U.S. Treasury obligations valued at <br> $1,020,000,037; 0.00% - 7.00%; 10/09/2025 - 05/15/2058)<br>| 4.34% | 09/02/2025 | 655315856 | &nbsp;&nbsp; 655000000 |
| Natixis, joint term agreement dated 08/29/2025, aggregate maturing value of <br> $750,634,375 (collateralized by agency mortgage-backed securities and <br> U.S. Treasury obligations valued at $765,000,000; 0.00% - 7.00%; <br> 10/09/2025 - 09/01/2055)<sup>(e)</sup> <br>| 4.35% | 09/05/2025 | 300253750 | &nbsp;&nbsp; 300000000 |
| RBC Dominion Securities Inc., joint term agreement dated 08/26/2025, <br> aggregate maturing value of $1,035,905,000 (collateralized by U.S. Treasury <br> obligations valued at $1,020,657,998; 0.00% - 4.75%; 09/04/2025 - <br> 08/15/2055)<sup>(e)</sup> <br>| 3.87% | 07/27/2026 | 160565275 | &nbsp;&nbsp; 155000000 |
| RBC Dominion Securities Inc., joint term agreement dated 08/26/2025, <br> aggregate maturing value of $1,038,725,556 (collateralized by U.S. Treasury <br> obligations valued at $1,020,651,187; 0.00% - 4.75%; 09/04/2025 - <br> 08/15/2055)<sup>(e)</sup> <br>| 3.83% | 08/26/2026 | 166196089 | &nbsp;&nbsp; 160000000 |
| RBC Dominion Securities Inc., joint term agreement dated 08/27/2025, <br> aggregate maturing value of $1,569,780,100 (collateralized by agency <br> mortgage-backed securities and U.S. Treasury obligations valued at <br> $1,547,152,184; 0.00% - 6.00%; 10/02/2025 - 08/15/2055)<sup>(e)</sup> <br>| 3.87% | 07/24/2026 | 232981875 | &nbsp;&nbsp; 225000000 |
| Royal Bank of Canada, joint term agreement dated 03/13/2025, aggregate <br> maturing value of $1,540,310,000 (collateralized by agency mortgage-<br> backed securities and U.S. Treasury obligations valued at $1,560,660,355; <br> 0.00% - 7.00%; 09/25/2025 - 08/15/2055)<sup>(e)</sup> <br>| 4.17% | 10/31/2025 | 201267173 | &nbsp;&nbsp; 196000000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**12**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier U.S. Government Money Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Repurchase**<br> **Amount** | &nbsp;&nbsp; **Repurchase**<br> **Amount** | **Value** |
| Royal Bank of Canada, joint term agreement dated 03/13/2025, aggregate <br> maturing value of $1,541,315,700 (collateralized by agency mortgage-<br> backed securities and U.S. Treasury obligations valued at $1,567,124,654; <br> 0.85% - 7.00%; 11/30/2026 - 01/07/2062)<sup>(e)</sup> <br>| 4.20% | 09/30/2025 |  | $200596200 | &nbsp;&nbsp; $196000000 |
| Societe Generale, joint term agreement dated 08/25/2025, aggregate maturing <br> value of $500,485,556 (collateralized by agency mortgage-backed securities <br> and U.S. Treasury obligations valued at $510,000,000; 2.00% - 7.00%; <br> 08/15/2041 - 09/01/2055)<sup>(e)</sup> <br>| 4.37% | 09/02/2025 |  | 210203933 | &nbsp;&nbsp; 210000000 |
| Societe Generale, joint term agreement dated 08/26/2025, aggregate maturing <br> value of $1,501,277,500 (collateralized by U.S. Treasury obligations valued <br> at $1,530,000,075; 2.88% - 4.50%; 03/15/2027 - 12/31/2031)<sup>(e)</sup> <br>| 4.38% | 09/02/2025 |  | 200170333 | &nbsp;&nbsp; 200000000 |
| Standard Chartered Bank, joint agreement dated 08/29/2025, aggregate <br> maturing value of $3,001,446,667 (collateralized by agency mortgage-<br> backed securities and U.S. Treasury obligations valued at $3,061,475,600; <br> 0.00% - 6.00%; 09/16/2025 - 09/01/2055)<br>| 4.34% | 09/02/2025 |  | 1000482222 | &nbsp;&nbsp; 1000000000 |
| Standard Chartered Bank, joint agreement dated 08/29/2025, aggregate <br> maturing value of $4,001,924,444 (collateralized by U.S. Treasury <br> obligations valued at $4,081,962,968; 0.00% - 4.88%; 10/02/2025 - <br> 02/15/2054)<br>| 4.33% | 09/02/2025 |  | 947714314 | &nbsp;&nbsp; 947258577 |
| TD Securities (USA) LLC, joint term agreement dated 08/27/2025, aggregate <br> maturing value of $480,407,867 (collateralized by agency mortgage-backed <br> securities valued at $489,600,001; 1.00% - 8.40%; 08/20/2040 - <br> 11/16/2065)<sup>(e)</sup> <br>| 4.37% | 09/03/2025 |  | 340288906 | &nbsp;&nbsp; 340000000 |
| Wells Fargo Securities, LLC, joint term agreement dated 06/13/2025, aggregate <br> maturing value of $1,718,864,806 (collateralized by agency mortgage-<br> backed securities valued at $1,734,000,001; 1.50% - 7.50%; 06/01/2026 <br> - 01/01/2059)<br>| 4.39% | 09/12/2025 |  | 404438778 | &nbsp;&nbsp; 400000000 |
| Wells Fargo Securities, LLC, joint term agreement dated 08/26/2025, aggregate <br> maturing value of $869,137,500 (collateralized by agency mortgage-backed <br> securities and U.S. government sponsored agency obligations valued at <br> $877,200,001; 0.00% - 8.00%; 09/08/2025 - 08/01/2055)<br>| 4.25% | 11/24/2025 |  | 111168750 | &nbsp;&nbsp; 110000000 |
| Total Repurchase Agreements (Cost $13,709,635,108) | Total Repurchase Agreements (Cost $13,709,635,108) | Total Repurchase Agreements (Cost $13,709,635,108) | Total Repurchase Agreements (Cost $13,709,635,108) |  | &nbsp;&nbsp; 13709635108 |
| TOTAL INVESTMENTS IN SECURITIES<sup>(i)</sup>-101.69% (Cost $24,059,595,115) | TOTAL INVESTMENTS IN SECURITIES<sup>(i)</sup>-101.69% (Cost $24,059,595,115) | TOTAL INVESTMENTS IN SECURITIES<sup>(i)</sup>-101.69% (Cost $24,059,595,115) | TOTAL INVESTMENTS IN SECURITIES<sup>(i)</sup>-101.69% (Cost $24,059,595,115) |  | &nbsp;&nbsp; 24059595115 |
| OTHER ASSETS LESS LIABILITIES-(1.69)% | OTHER ASSETS LESS LIABILITIES-(1.69)% | OTHER ASSETS LESS LIABILITIES-(1.69)% | OTHER ASSETS LESS LIABILITIES-(1.69)% |  | &nbsp;&nbsp; (400503101)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% |  | &nbsp;&nbsp; $23659092014 |

---

Investment Abbreviations:

EFFR -Effective Federal Funds Rate <br> SOFR -Secured Overnight Financing Rate <br> VRD -Variable Rate Demand

Notes to Schedule of Investments:

<sup>(a)</sup> Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.

<sup>(b)</sup> Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2025.

<sup>(c)</sup> Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on August 31, 2025. 

<sup>(d)</sup> Principal amount equals value at period end. See Note 1J.

<sup>(e)</sup> The Fund may demand payment of the term repurchase agreement upon one to seven business days' notice depending on the timing of the demand.

<sup>(f)</sup> Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

<sup>(g)</sup> Interest is paid periodically at specified time intervals. The Repurchase Amount includes one day of interest due at maturity. 

<sup>(h)</sup> Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date. 

<sup>(i)</sup> Also represents cost for federal income tax purposes.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**13**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Statement of Assets and Liabilities**

*August 31, 2025*

---

| | | |
|:---|:---|:---|
|  | **Invesco Premier** <br>**Portfolio**<br>| **Invesco Premier** <br>**U.S. Government** <br>**Money Portfolio**<br>|
| **Assets:** | **Assets:** | **Assets:** |
| Investments in unaffiliated securities, at value | &nbsp;&nbsp; $6245294006 | &nbsp;&nbsp; $10349960007 |
| Repurchase agreements, at value and cost | &nbsp;&nbsp; 3523077529 | &nbsp;&nbsp; 13709635108 |
| Cash | &nbsp;&nbsp; 261350 | &nbsp;&nbsp; 28446 |
| Receivable for: |  |  |
| Fund shares sold | &nbsp;&nbsp; 29883069 | &nbsp;&nbsp; 7193328 |
| Interest | &nbsp;&nbsp; 16933963 | &nbsp;&nbsp; 68400694 |
| Fund expenses absorbed | &nbsp;&nbsp; 568309 | &nbsp;&nbsp; 1395698 |
| Investment for trustee deferred compensation and retirement plans | &nbsp;&nbsp; 680307 | &nbsp;&nbsp; 160755 |
| Total assets | &nbsp;&nbsp; 9816698533 | &nbsp;&nbsp; 24136774036 |
| **Liabilities:** | **Liabilities:** | **Liabilities:** |
| Payable for: |  |  |
| Investments purchased | &nbsp;&nbsp; 98959250 | &nbsp;&nbsp; 435470000 |
| Fund shares reacquired | &nbsp;&nbsp; 12993947 | &nbsp;&nbsp; 4218030 |
| Dividends | &nbsp;&nbsp; 2429468 | &nbsp;&nbsp; 32848573 |
| Accrued fees to affiliates | &nbsp;&nbsp; 2032963 | &nbsp;&nbsp; 4984664 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 680307 | &nbsp;&nbsp; 160755 |
| Total liabilities | &nbsp;&nbsp; 117095935 | &nbsp;&nbsp; 477682022 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $9699602598 | &nbsp;&nbsp; $23659092014 |
| **Net assets consist of:** | **Net assets consist of:** | **Net assets consist of:** |
| Shares of beneficial interest | &nbsp;&nbsp; $9699475127 | &nbsp;&nbsp; $23658084425 |
| Distributable earnings (loss) | &nbsp;&nbsp; 127471 | &nbsp;&nbsp; 1007589 |
|  | &nbsp;&nbsp; $9699602598 | &nbsp;&nbsp; $23659092014 |
| **Net Assets:** | **Net Assets:** | **Net Assets:** |
| Institutional Class | &nbsp;&nbsp; $9414960740 | &nbsp;&nbsp; $22136303093 |
| Investor Class | &nbsp;&nbsp; $283867086 | &nbsp;&nbsp; $1522788921 |
| Personal Investment Class | &nbsp;&nbsp; $11835 | &nbsp;&nbsp; $- |
| Private Investment Class | &nbsp;&nbsp; $27694 | &nbsp;&nbsp; $- |
| Reserve Class | &nbsp;&nbsp; $11593 | &nbsp;&nbsp; $- |
| Resource Class | &nbsp;&nbsp; $723650 | &nbsp;&nbsp; $- |
| **Shares outstanding, no par value,** <br>**unlimited number of shares authorized:** | **Shares outstanding, no par value,** <br>**unlimited number of shares authorized:** | **Shares outstanding, no par value,** <br>**unlimited number of shares authorized:** |
| Institutional Class | &nbsp;&nbsp; 9414516475 | &nbsp;&nbsp; 22134268301 |
| Investor Class | &nbsp;&nbsp; 283856455 | &nbsp;&nbsp; 1522692701 |
| Personal Investment Class | &nbsp;&nbsp; 11834 | &nbsp;&nbsp; - |
| Private Investment Class | &nbsp;&nbsp; 27692 | &nbsp;&nbsp; - |
| Reserve Class | &nbsp;&nbsp; 11592 | &nbsp;&nbsp; - |
| Resource Class | &nbsp;&nbsp; 723615 | &nbsp;&nbsp; - |
| Net asset value, offering and redemption price per share for each class | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Cost of Investments | &nbsp;&nbsp; $9768371535 | &nbsp;&nbsp; $24059595115 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**14**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Statements of Operations**

*For the year ended August 31, 2025*

---

| | | |
|:---|:---|:---|
|  | **Invesco Premier** <br>**Portfolio**<br>| **Invesco Premier** <br>**U.S. Government** <br>**Money Portfolio**<br>|
| **Investment income:** |  |  |
| Interest | &nbsp;&nbsp; $407012230 | &nbsp;&nbsp; $986573029 |
| **Expenses:** |  |  |
| Advisory fees | &nbsp;&nbsp; 21719795 | &nbsp;&nbsp; 53940194 |
| Distribution fees: |  |  |
| Personal Investment Class | &nbsp;&nbsp; 71880 | &nbsp;&nbsp; - |
| Private Investment Class | &nbsp;&nbsp; 81 | &nbsp;&nbsp; - |
| Reserve Class | &nbsp;&nbsp; 99 | &nbsp;&nbsp; - |
| Resource Class | &nbsp;&nbsp; 1131 | &nbsp;&nbsp; - |
| Professional services fees | &nbsp;&nbsp; (2968)<br>| &nbsp;&nbsp; (8392)<br>|
| Total expenses | &nbsp;&nbsp; 21790018 | &nbsp;&nbsp; 53931802 |
| Less: Fees waived | &nbsp;&nbsp; (6081509)<br>| &nbsp;&nbsp; (15103171)<br>|
| Net expenses | &nbsp;&nbsp; 15708509 | &nbsp;&nbsp; 38828631 |
| Net investment income | &nbsp;&nbsp; 391303721 | &nbsp;&nbsp; 947744398 |
| Net realized gain from unaffiliated investment securities | &nbsp;&nbsp; 2356 | &nbsp;&nbsp; 676482 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $391306077 | &nbsp;&nbsp; $948420880 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**15**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Statements of Changes in Net Assets**

*For the years ended August 31, 2025 and 2024*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier U.S. Government** <br>**Money Portfolio** | **Invesco Premier U.S. Government** <br>**Money Portfolio** |
|  | **2025** | **2024** | **2025** | **2024** |
| **Operations:** | **Operations:** | **Operations:** | **Operations:** | **Operations:** |
| Net investment income | &nbsp;&nbsp; $391303721 | &nbsp;&nbsp; $346325123 | &nbsp;&nbsp; $947744398 | &nbsp;&nbsp; $1021343729 |
| Net realized gain | &nbsp;&nbsp; 2356 | &nbsp;&nbsp; 20533 | &nbsp;&nbsp; 676482 | &nbsp;&nbsp; 910087 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 391306077 | &nbsp;&nbsp; 346345656 | &nbsp;&nbsp; 948420880 | &nbsp;&nbsp; 1022253816 |
| **Distributions to shareholders from distributable earnings:** | **Distributions to shareholders from distributable earnings:** | **Distributions to shareholders from distributable earnings:** | **Distributions to shareholders from distributable earnings:** | **Distributions to shareholders from distributable earnings:** |
| Institutional Class | &nbsp;&nbsp; (381517915)<br>| &nbsp;&nbsp; (337282614)<br>| &nbsp;&nbsp; (918978369)<br>| &nbsp;&nbsp; (1000896255)<br>|
| Investor Class | &nbsp;&nbsp; (9233389)<br>| &nbsp;&nbsp; (8535442)<br>| &nbsp;&nbsp; (28766029)<br>| &nbsp;&nbsp; (20447474)<br>|
| Personal Investment Class | &nbsp;&nbsp; (520037)<br>| &nbsp;&nbsp; (469960)<br>| &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Private Investment Class | &nbsp;&nbsp; (1143)<br>| &nbsp;&nbsp; (1317)<br>| &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Reserve Class | &nbsp;&nbsp; (415)<br>| &nbsp;&nbsp; (494)<br>| &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Resource Class | &nbsp;&nbsp; (30822)<br>| &nbsp;&nbsp; (35296)<br>| &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Total distributions from distributable earnings | &nbsp;&nbsp; (391303721)<br>| &nbsp;&nbsp; (346325123)<br>| &nbsp;&nbsp; (947744398)<br>| &nbsp;&nbsp; (1021343729)<br>|
| **Share transactions-net:** | **Share transactions-net:** | **Share transactions-net:** | **Share transactions-net:** | **Share transactions-net:** |
| Institutional Class | &nbsp;&nbsp; 1849359762 | &nbsp;&nbsp; 2790848017 | &nbsp;&nbsp; 3247715592 | &nbsp;&nbsp; (71141053)<br>|
| Investor Class | &nbsp;&nbsp; 131397110 | &nbsp;&nbsp; (5997098)<br>| &nbsp;&nbsp; 1117830204 | &nbsp;&nbsp; 63142364 |
| Personal Investment Class | &nbsp;&nbsp; (13619385)<br>| &nbsp;&nbsp; 6526699 | &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Private Investment Class | &nbsp;&nbsp; 1256 | &nbsp;&nbsp; 1313 | &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Reserve Class | &nbsp;&nbsp; 458 | &nbsp;&nbsp; 494 | &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Resource Class | &nbsp;&nbsp; 33862 | &nbsp;&nbsp; 35168 | &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Net increase (decrease) in net assets resulting from share transactions | &nbsp;&nbsp; 1967173063 | &nbsp;&nbsp; 2791414593 | &nbsp;&nbsp; 4365545796 | &nbsp;&nbsp; (7998689)<br>|
| Net increase (decrease) in net assets | &nbsp;&nbsp; 1967175419 | &nbsp;&nbsp; 2791435126 | &nbsp;&nbsp; 4366222278 | &nbsp;&nbsp; (7088602)<br>|
| **Net assets:** | **Net assets:** | **Net assets:** | **Net assets:** | **Net assets:** |
| Beginning of year | &nbsp;&nbsp; 7732427179 | &nbsp;&nbsp; 4940992053 | &nbsp;&nbsp; 19292869736 | &nbsp;&nbsp; 19299958338 |
| End of year | &nbsp;&nbsp; $9699602598 | &nbsp;&nbsp; $7732427179 | &nbsp;&nbsp; $23659092014 | &nbsp;&nbsp; $19292869736 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**16**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Financial Highlights**

The following schedule presents financial highlights for a share of the Funds outstanding throughout the periods indicated.

**Investor Class** 

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(realized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or expense** <br>**reimbursements**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or expense** <br>**reimbursements**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**to average** <br>**net assets**<br>|
| **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** |
| Year ended 08/31/25 | $1.00 | $0.05 | $0.00 | $0.05 | $(0.05)<br>| $1.00 | 4.62<br> %<br>| $283867 | 0.18<br> %<br>| 0.25<br> %<br>| 4.50<br> %<br>|
| Year ended 08/31/24 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| 1.00 | 5.54 | 152477 | 0.18 | 0.25 | 5.39 |
| Year ended 08/31/23 | 1.00 | 0.04 | (0.00)<br>| 0.04 | (0.04)<br>| 1.00 | 4.49 | 158473 | 0.18 | 0.25 | 4.62 |
| Year ended 08/31/22 | 1.00 | 0.01 | 0.00 | 0.01 | (0.01)<br>| 1.00 | 0.51 | 43003 | 0.18 | 0.25 | 0.61 |
| Year ended 08/31/21 | 1.00 | 0.00 | 0.00 | 0.00 | (0.00)<br>| 1.00 | 0.07 | 45025 | 0.18 | 0.25 | 0.07 |
| **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** |
| Year ended 08/31/25 | 1.00 | 0.04 | 0.00 | 0.04 | (0.04)<br>| 1.00 | 4.50 | 1522789 | 0.18 | 0.25 | 4.39 |
| Year ended 08/31/24 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| 1.00 | 5.36 | 404892 | 0.18 | 0.25 | 5.23 |
| Year ended 08/31/23 | 1.00 | 0.04 | 0.00 | 0.04 | (0.04)<br>| 1.00 | 4.38 | 341727 | 0.18 | 0.25 | 4.42 |
| Year ended 08/31/22 | 1.00 | 0.00 | (0.00)<br>| 0.00 | (0.00)<br>| 1.00 | 0.45 | 51389 | 0.14 | 0.25 | 0.59 |
| Year ended 08/31/21 | 1.00 | 0.00 | 0.00 | 0.00 | (0.00)<br>| 1.00 | 0.01 | 39160 | 0.12 | 0.25 | 0.01 |

---

<sup>(a)</sup> Calculated using average shares outstanding. <br> <sup>(b)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**17**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Notes to Financial Statements**

*August 31, 2025*

**NOTE 1—Significant Accounting Policies**

AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series diversified management investment company. The Trust is organized as a Delaware statutory trust. The Funds covered in this report are Invesco Premier Portfolio and Invesco Premier U.S. Government Money Portfolio (collectively, the "Funds"). The assets, liabilities and operations of each portfolio are accounted for separately. Information presented in these financial statements pertains only to the Funds. Matters affecting each Fund or class will be voted on exclusively by the shareholders of such portfolio or class.

Invesco Premier Portfolio's investment objective is to provide current income consistent with preservation of capital and liquidity. Invesco Premier U.S. Government Money Portfolio's investment objective is a high level of current income consistent with the preservation of capital and the maintenance of liquidity.

Invesco Premier Portfolio currently consists of six classes of shares: Investor Class, Institutional Class, Private Investment Class, Personal Investment Class, Reserve Class and Resource Class. Invesco Premier U.S. Government Money Portfolio currently consists of two classes of shares: Investor Class and Institutional Class. Investor Class shares of the Funds are available only to certain investors. Each class of shares is sold at net asset value.

Each Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services — Investment Companies.*

Invesco Premier Portfolio, a "retail money market fund" as defined in Rule 2a-7 under the 1940 Act (the "Rule"), and Invesco Premier U.S. Government Money Portfolio, a "government money market fund" as defined in the Rule, seek to maintain a stable or constant NAV of $1.00 per share using an amortized cost method of valuation.

"Retail money market funds" are required to adopt policies and procedures reasonably designed to limit investments in the Fund to accounts beneficially owned by natural persons. "Government money market funds" are required to invest at least 99.5% of their total assets in cash, Government Securities (as defined in the 1940 Act), and/or repurchase agreements collateralized fully by cash or Government Securities.

Invesco Premier Portfolio may impose a fee upon the sale of shares. The Board of Trustees has elected not to subject Invesco Premier U.S. Government Money Portfolio to liquidity fee requirements at this time, as permitted by the Rule.

The following is a summary of the significant accounting policies followed by the Funds in the preparation of their financial statements.

**A.** **Security Valuations** — Each Fund's securities are recorded on the basis of amortized cost which approximates value as permitted by the Rule. This method values a security at its cost on the date of purchase and, thereafter, assumes a constant amortization to maturity of any premiums or accretion of any discounts.

Securities for which market quotations are not readily available are fair valued by Invesco Advisers, Inc. (the "Adviser" or "Invesco") in accordance with Board-approved policies and related Adviser procedures ("Valuation Procedures"). If a fair value price provided by a pricing service is unreliable in the Adviser's judgment, the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value.

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.

Each Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/ or liquidity of certain of each Fund's investments.

**B.** **Securities Transactions and Investment Income** — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on the accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.

The Funds may periodically participate in litigation related to each Fund's investments. As such, the Funds may receive proceeds from litigation settlements involving each Fund's investments. Any proceeds received are included in the Statements 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 gain (loss) from investment securities reported in the Statements of Operations and the Statements of Changes in Net Assets and the net realized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of each Fund's net asset value and, accordingly, they reduce each Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statements of Operations and the Statements of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Funds and the investment adviser.

The Funds allocate realized capital gains and losses to a class based on the relative net assets of each class. The Funds allocate income to a class based on the relative settled shares of each class.

**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, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, 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

**18**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

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.** **Distributions** - It is the policy of the Funds to declare dividends from net investment income, if any, daily and pay them monthly. Each Fund generally distributes net realized capital gain (including net short-term capital gain), if any, annually.

**E.** **Federal Income Taxes** — The Funds intend to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Funds' taxable earnings to shareholders. As such, the Funds will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Funds recognize the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed each Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.

Each Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, each Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

**F.** **Expenses** - Fees provided for under the Rule 12b-1 plan of a particular class of each Fund and which are directly attributable to that class are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative settled shares.

**G.** **Accounting Estimates** - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, each Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**H.** **Indemnifications** - Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Funds. Additionally, in the normal course of business, the Funds enter into contracts, including each Fund's servicing agreements, that contain a variety of indemnification clauses. Each Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against such Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**I.** **Segment Reporting** — In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), with the intent of improving reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole, thereby enabling better understanding of how an entity's segments impact overall performance. Each Fund represents a single operating segment. Subject to the oversight and, when applicable, approval of the Board of Trustees, the Adviser acts as the Funds' chief operating decision maker ("CODM"), assessing performance and making decisions about resource allocation within each Fund. The CODM monitors the operating results as a whole, and each Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Funds' financial statements. Adoption of the new standard impacted the Funds' financial statement note disclosures only and did not affect the Funds' financial position or the results of its operations.

**J.** **Repurchase Agreements -** The Funds may enter into repurchase agreements. Collateral on repurchase agreements, including each Fund's pro-rata interest in joint repurchase agreements, is taken into possession by such Funds upon entering into the repurchase agreement. Collateral consisting of U.S. Government Securities and U.S. Government Sponsored Agency Securities is marked to market daily to ensure its market value is typically at least 102% of the sales price of the repurchase agreement. Collateral consisting of non-government securities is marked to market daily to ensure its market value is typically at least 105% of the sales price of the repurchase agreement. The investments in some repurchase agreements, pursuant to procedures approved by the Board of Trustees, are through participation with other mutual funds, private accounts and certain non-registered investment companies managed by the investment advisor or its affiliates ("Joint repurchase agreements"). The principal amount of the repurchase agreement is equal to the value at period-end. If the seller of a repurchase agreement fails to repurchase the security in accordance with the terms of the agreement, the Funds might incur expenses in enforcing their rights, and could experience losses, including a decline in the value of the collateral and loss of income.

**K.** **Other Risks** - Obligations of U.S. Government agencies and authorities receive varying levels of support and may not be backed by the full faith and credit of the U.S. Government, which could affect a Fund's ability to recover should they default. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so.

The effect on performance from investing in securities issued or guaranteed by companies in the banking and financial services industries will depend to a greater extent on the overall condition of those industries. Financial services companies are highly dependent on the supply of short-term financing. The value of securities of issuers in the banking and financial services industry can be sensitive to changes in government regulation and interest rates and to economic downturns in the United States and abroad.

U.S. dollar-denominated securities carrying foreign credit exposure may be affected by unfavorable political, economic or governmental developments that could affect payments of principal and interest.

**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, each Fund accrues daily and pays monthly an advisory fee to the Adviser at an annual rate of 0.25% of such Fund's average daily net assets. Pursuant to the master investment advisory agreement, the Adviser bears all expenses incurred by each Fund in connection with its operations, except for (1) interest, taxes and extraordinary items such as litigation costs; (2) brokers' commissions, issue and transfer taxes, and other costs chargeable to each

**19**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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Fund in connection with securities transactions to which such Fund is a party or in connection with securities owned by such Fund; and (3) other expenditures which are capitalized in accordance with generally accepted accounting principles applicable to investment companies.

Under the terms of a master sub-advisory agreement between the Adviser to Invesco Premier Portfolio and each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Inc., Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and a separate sub-advisory agreement with Invesco Capital Management LLC (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Sub-Adviser(s).

The Adviser has contractually agreed, through at least December 31, 2025, to waive advisory fees equal to 0.07% of the average daily net assets of Invesco Premier Portfolio and Invesco Premier U.S. Government Money Portfolio.

For the year ended August 31, 2025, the Adviser waived advisory fees and/or reimbursed Fund expenses in the following amounts:

---

| | |
|:---|:---|
| Invesco Premier Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; $6081509 |
| Invesco Premier U.S. Government Money Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; 15103171 |

---

The Trust has entered into a master administrative services agreement with Invesco to provide accounting services to each Fund. The Trust has also entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") to provide transfer agency and shareholder services to each Fund. Invesco and IIS do not charge the Funds any fees under these agreements. Also, Invesco has entered into a sub-administration agreement whereby The Bank of New York Mellon ("BNY") serves as fund accountant and provides certain administrative services to the Funds. Pursuant to a custody agreement with the Trust on behalf of the Funds, BNY also serves as the Funds' custodian.

The Trust has entered into master distribution agreements with IDI to serve as the distributor for the Investor Class, Institutional Class, Personal Investment Class, Private Investment Class, Reserve Class and Resource Class shares. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to Invesco Premier Portfolio's Personal Investment Class, Private Investment Class, Reserve Class and Resource Class shares (collectively, the "Plans"). The Fund, pursuant to the Plans, pays IDI compensation at the annual rate of 0.55% of the Fund's average daily net assets of Personal Investment Class shares, 0.30% of the average daily net assets of Private Investment Class shares, 0.87% of the average daily net assets of Reserve Class shares and 0.16% of the average daily net assets of Resource Class shares. The fees are accrued daily and paid monthly. Of the Plan payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such class. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended August 31, 2025, expenses incurred under the plans are shown in the Statement of Operations as *Distribution fees*.

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

**NOTE 3—Additional Valuation Information**

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

Level 1 — Prices are determined using quoted prices in an active market for identical assets.

Level 2 — Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.

Level 3 — Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Adviser's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

As of August 31, 2025, all of the securities in each Fund were valued based on Level 2 inputs (see the Schedule of Investments for security categories). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

**NOTE 4—Trustees' and Officers' Fees and Benefits**

Remuneration is paid to certain Trustees and Officers of the Trust. Trustees have the option to defer their compensation. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested.

Certain current Trustees were eligible to participate in a retirement plan that provided for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Funds may have certain former Trustees that also participate in a retirement plan and receive benefits under such plan. Each Fund's allocable portion of the remuneration paid to the Trustees, including its allocable portion of the fees and benefits of the deferred compensation plan and retirement plan are paid by Invesco and not by the Trust.

**NOTE 5—Cash Balances**

The Funds are permitted to temporarily overdraft or leave balances in their accounts with BNY, the custodian bank. Such balances, if any at period-end, are shown in the Statements of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate BNY or the Funds for such activity, the Funds may either (1) pay to or receive from BNY compensation at a rate agreed upon by BNY and Invesco, not to exceed the

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**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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contractually agreed upon rate; or (2) leave funds or overdraft funds as a compensating balance in the account so BNY or the Funds can be compensated for use of funds.

**NOTE 6—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | | |
|:---|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2025 and 2024:</u>** |
|  | **2025** | **2025** | **2024** |
|  | **Ordinary** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Long-Term** <br>**Capital Gains**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Ordinary** <br>**Income\***<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp; $391303721 | &nbsp;&nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp;&nbsp; $346325123 |
| Invesco Premier U.S. Government Money Portfolio | &nbsp;&nbsp; 947686252 | &nbsp;&nbsp;&nbsp;&nbsp; 58146 | &nbsp;&nbsp;&nbsp;&nbsp; 1021343729 |

---

\* Includes short-term capital gain distributions, if any.

---

| | | | |
|:---|:---|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Undistributed** <br>**Ordinary** <br>**Income**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Shares of** <br>**Beneficial** <br>**Interest**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Total** <br>**Net Assets**<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; $127471 | &nbsp;&nbsp;&nbsp;&nbsp; $9699475127 | &nbsp;&nbsp;&nbsp;&nbsp; $9699602598 |
| Invesco Premier U.S. Government Money Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; 1007589 | &nbsp;&nbsp;&nbsp;&nbsp; 23658084425 | &nbsp;&nbsp;&nbsp;&nbsp; 23659092014 |

---

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Funds to utilize. The ability to utilize capital loss carryforwards in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Funds did not have any capital loss carryforward as of August 31, 2025.

**NOTE 7—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of distributions, on August 31, 2025, amounts were reclassified between undistributed net investment income (loss), undistributed net realized gain (loss) and shares of beneficial interest. These reclassifications had no effect on the net assets or the distributable earnings of each Fund.

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Undistributed Net** <br>**Investment Income**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Undistributed Net** <br>**Realized Gain (Loss)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Shares of** <br>**Beneficial Interest**<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; $2356 | &nbsp;&nbsp;&nbsp;&nbsp; $(2356)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $- |
| Invesco Premier U.S. Government Money Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; 738685 | &nbsp;&nbsp;&nbsp;&nbsp; (901685)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 163000 |

---

**NOTE 8—Share Information**

**Invesco Premier Portfolio** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Years ended August 31,** | **Years ended August 31,** | **Years ended August 31,** | **Years ended August 31,** |
|  | **2025**<sup>(a)</sup>  | **2025**<sup>(a)</sup>  | **2024** | **2024** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; 11598875406 | &nbsp;&nbsp;&nbsp; $11598875406 | &nbsp;&nbsp;&nbsp; 9739077117 | &nbsp;&nbsp;&nbsp; $9739077117 |
| Investor Class | &nbsp;&nbsp;&nbsp; 521969267 | &nbsp;&nbsp;&nbsp; 521969267 | &nbsp;&nbsp;&nbsp; 336725771 | &nbsp;&nbsp;&nbsp; 336725771 |
| Personal Investment Class | &nbsp;&nbsp;&nbsp; 13222425 | &nbsp;&nbsp;&nbsp; 13222425 | &nbsp;&nbsp;&nbsp; 24100174 | &nbsp;&nbsp;&nbsp; 24100174 |
| Private Investment Class | &nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| Reserve Class | &nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| Resource Class | &nbsp;&nbsp;&nbsp; 3040 | &nbsp;&nbsp;&nbsp; 3040 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; 381517885 | &nbsp;&nbsp;&nbsp; 381517885 | &nbsp;&nbsp;&nbsp; 299321339 | &nbsp;&nbsp;&nbsp; 299321339 |
| Investor Class | &nbsp;&nbsp;&nbsp; 9226500 | &nbsp;&nbsp;&nbsp; 9226500 | &nbsp;&nbsp;&nbsp; 8507286 | &nbsp;&nbsp;&nbsp; 8507286 |
| Personal Investment Class | &nbsp;&nbsp;&nbsp; 520037 | &nbsp;&nbsp;&nbsp; 520037 | &nbsp;&nbsp;&nbsp; 442533 | &nbsp;&nbsp;&nbsp; 442533 |
| Private Investment Class | &nbsp;&nbsp;&nbsp; 1143 | &nbsp;&nbsp;&nbsp; 1143 | &nbsp;&nbsp;&nbsp; 1313 | &nbsp;&nbsp;&nbsp; 1313 |
| Reserve Class | &nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp; 494 | &nbsp;&nbsp;&nbsp; 494 |
| Resource Class | &nbsp;&nbsp;&nbsp; 30822 | &nbsp;&nbsp;&nbsp; 30822 | &nbsp;&nbsp;&nbsp; 35168 | &nbsp;&nbsp;&nbsp; 35168 |

---

**21**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**NOTE 8—Share Information**—**(continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Years ended August 31,** | **Years ended August 31,** | **Years ended August 31,** | **Years ended August 31,** |
|  | **2025**<sup>(a)</sup> | **2025**<sup>(a)</sup> | **2024** | **2024** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Reacquired:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; (10131033529)<br>| &nbsp;&nbsp;&nbsp; $(10131033529)<br>| &nbsp;&nbsp;&nbsp; (7247550439)<br>| &nbsp;&nbsp;&nbsp; $(7247550439)<br>|
| Investor Class | &nbsp;&nbsp;&nbsp; (399798657)<br>| &nbsp;&nbsp;&nbsp; (399798657)<br>| &nbsp;&nbsp;&nbsp; (351230155)<br>| &nbsp;&nbsp;&nbsp; (351230155)<br>|
| Personal Investment Class | &nbsp;&nbsp;&nbsp; (27361847)<br>| &nbsp;&nbsp;&nbsp; (27361847)<br>| &nbsp;&nbsp;&nbsp; (18016008)<br>| &nbsp;&nbsp;&nbsp; (18016008)<br>|
| Net increase in share activity | &nbsp;&nbsp;&nbsp; 1967173063 | &nbsp;&nbsp;&nbsp; $1967173063 | &nbsp;&nbsp;&nbsp; 2791414593 | &nbsp;&nbsp;&nbsp; $2791414593 |

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 51% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**Invesco Premier U.S. Government Money Portfolio** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Years ended August 31,** | **Years ended August 31,** | **Years ended August 31,** | **Years ended August 31,** |
|  | **2025**<sup>(a)</sup>  | **2025**<sup>(a)</sup>  | **2024** | **2024** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; 62626497809 | &nbsp;&nbsp;&nbsp; $62626497809 | &nbsp;&nbsp;&nbsp; 51409565237 | &nbsp;&nbsp;&nbsp; $51409565237 |
| Investor Class | &nbsp;&nbsp;&nbsp; 2039620515 | &nbsp;&nbsp;&nbsp; 2039620515 | &nbsp;&nbsp;&nbsp; 450315377 | &nbsp;&nbsp;&nbsp; 450315377 |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; 568104666 | &nbsp;&nbsp;&nbsp; 568104666 | &nbsp;&nbsp;&nbsp; 549306804 | &nbsp;&nbsp;&nbsp; 549306804 |
| Investor Class | &nbsp;&nbsp;&nbsp; 28761155 | &nbsp;&nbsp;&nbsp; 28761155 | &nbsp;&nbsp;&nbsp; 20382490 | &nbsp;&nbsp;&nbsp; 20382490 |
| **Reacquired:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; (59946886883)<br>| &nbsp;&nbsp;&nbsp; (59946886883)<br>| &nbsp;&nbsp;&nbsp; (52030013094)<br>| &nbsp;&nbsp;&nbsp; (52030013094)<br>|
| Investor Class | &nbsp;&nbsp;&nbsp; (950551466)<br>| &nbsp;&nbsp;&nbsp; (950551466)<br>| &nbsp;&nbsp;&nbsp; (407555503)<br>| &nbsp;&nbsp;&nbsp; (407555503)<br>|
| Net increase (decrease) in share activity | &nbsp;&nbsp;&nbsp; 4365545796 | &nbsp;&nbsp;&nbsp; $4365545796 | &nbsp;&nbsp;&nbsp; (7998689)<br>| &nbsp;&nbsp;&nbsp; $(7998689)<br>|

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 63% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**22**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) and Shareholders of Invesco Premier Portfolio and Invesco Premier U.S. Government Money Portfolio

**Opinions on the Financial Statements**

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of Invesco Premier Portfolio and Invesco Premier U.S. Government Money Portfolio (constituting AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust), hereafter collectively referred to as the "Funds") as of August 31, 2025, the related statements of operations for the year ended August 31, 2025, the statements of changes in net assets for each of the two years in the period ended August 31, 2025, including the related notes, and the financial highlights of the Investor Class for each of the five years in the period ended August 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of August 31, 2025, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended August 31, 2025 and each of the financial highlights of the Investor Class for each of the five years in the period ended August 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinions**

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of August 31, 2025 by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Houston, Texas

October 24, 2025

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**23**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Approval of Investment Advisory and Sub-Advisory Contracts**

**(Invesco Premier Portfolio and Invesco Premier U.S. Government Money Portfolio)** 

At meetings held on June 16, 2025, the Board of Trustees (the Board or the Trustees) of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) as a whole, and the independent Trustees, who comprise over 75% of the Board, voting separately, approved the continuance of each series portfolio of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) listed above (each, a Fund) Master Investment Advisory Agreement with Invesco Advisers, Inc. (Invesco Advisers and the investment advisory agreement) and for Invesco Premier Portfolio, the Master Intergroup Sub-Advisory Contract for Mutual Funds with Invesco Asset Management Deutschland GmbH\*, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and a separate sub-advisory contract with Invesco Capital Management LLC (collectively, the Affiliated Sub-Advisers and the sub-advisory contracts) for another year, effective July 1, 2025. After evaluating the factors discussed below, among others, the Board approved the renewal of each Fund's investment advisory agreement and the sub-advisory contracts and determined that the compensation payable thereunder by each Fund to Invesco Advisers and by Invesco Advisers to the Affiliated Sub-Advisers is fair and reasonable.&nbsp;&nbsp;&nbsp;&nbsp;

**The Board's Evaluation Process**

The Board has established an Investments Committee, which in turn has established Sub-Committees. The Sub-Committees meet regularly throughout the year with portfolio managers and other members of management to review information about the investment performance and portfolio attributes for those funds advised by Invesco Advisers (Invesco Funds) assigned to them. The Board has established additional standing and ad hoc committees that meet throughout the year to review matters within their purview, including a working group focused on opportunities to make ongoing and continuous improvements to the Board's annual review process for the Invesco Funds' investment advisory agreement and sub-advisory contracts (the annual review process). In considering whether to approve each Invesco Fund's investment advisory agreement and sub-advisory contracts, the Board took into account evaluations and reports that it received from its committees and sub-committees, as well as the information provided to the Board and its committees and sub-committees throughout the year.

As part of the annual review process, the Board reviews and considers information provided in response to requests for

information submitted to management by the independent Trustees with assistance from legal counsel to the independent Trustees (independent legal counsel) and the Senior Officer, an officer of the Invesco Funds who reports directly to the independent Trustees. The Board receives comparative investment performance and fee and expense data regarding the Invesco Funds prepared by Broadridge Financial Solutions, Inc. (Broadridge), an independent provider of investment company data, as well as information on the composition of the peer groups and its methodology for determining peer groups. The Board also receives an independent written evaluation from the Senior Officer. The Senior Officer's evaluation is prepared as part of his responsibility to manage the process by which the Invesco Funds' proposed management fees are negotiated during the annual review process to ensure they are negotiated in a manner that is at arms' length and reasonable in accordance with certain negotiated regulatory requirements. In addition to meetings with Invesco Advisers and fund counsel throughout the year and as part of meetings convened on May 6, 2025 and June 16-18, 2025, the independent Trustees also discussed the continuance of the investment advisory agreement and sub-advisory contracts in separate sessions with the Senior Officer and with independent legal counsel. The discussion below includes summary information drawn in part from the Senior Officer's independent written evaluation with respect to the Fund's investment advisory agreement and sub-advisory contracts, as well as a discussion of the material factors and related conclusions that formed the basis for the Board's approval of each Fund's investment advisory agreement and Invesco Premier Portfolio's sub-advisory contracts. The Trustees' review and conclusions are based on the comprehensive consideration of all information presented to them during the course of the year and are not the result of any single determinative factor. Moreover, one Trustee may have weighed a particular piece of information or factor differently than another Trustee.

**Factors and Conclusions and Summary of Independent Written Fee Evaluation**

*A.* *Nature, Extent and Quality of Services Provided by Invesco Advisers and the Affiliated Sub-Advisers*

The Board reviewed the nature, extent and quality of the advisory services provided to each Fund by Invesco Advisers under each Fund's investment advisory agreement, and the credentials and experience of the officers and employees of Invesco Advisers who provide these services, including each Fund's portfolio

manager(s). The Board's review included consideration of Invesco Advisers' investment process and oversight, credit analysis, and research capabilities. The Board considered information regarding Invesco Advisers' programs for and resources devoted to risk management, including management of investment, enterprise, operational, liquidity, derivatives, valuation and compliance risks, and technology used to manage such risks. The Board received information regarding Invesco's methodology for compensating its investment professionals and the incentives and accountability it creates, as well as how it impacts Invesco's ability to attract and retain talent. The Board considered that Invesco Advisers has shown the willingness to commit resources to support investment in the business and to remain well-positioned to serve Fund shareholders including with regard to attracting and retaining qualified personnel on its investment teams and investing in technology. The Board received a description of, and reports related to, Invesco Advisers' global security program and business continuity plans and of its approach to data privacy and cybersecurity, including related testing. The Board also considered non-advisory services that Invesco Advisers and its affiliates provide to the Invesco Funds, such as various middle office and back office support functions, third party oversight, internal audit, valuation, portfolio trading and legal and compliance. The Board considered Invesco Advisers' systems preparedness and ongoing investment to seek to manage, operate and oversee the Invesco Funds with minimal impact or disruption through challenging environments. The Board reviewed and considered the benefits to shareholders of investing in a Fund that is part of the family of funds under the umbrella of Invesco Ltd., Invesco Advisers' parent company, and noted Invesco Ltd.'s depth and experience in running an investment management business, as well as its commitment of financial and other resources to such business. The Board concluded that the nature, extent and quality of the services provided to each Fund by Invesco Advisers supported the renewal of the investment advisory agreement.

**INVESCO PREMIER PORTFOLIO**

The Board reviewed the services that may be provided to the Fund by the Affiliated Sub-Advisers under the sub-advisory contracts and the credentials and experience of the officers and employees of the Affiliated Sub-Advisers who provide these services. The Board noted the Affiliated Sub-Advisers' expertise with respect to certain asset classes and that the Affiliated Sub-Advisers have offices

**24**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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and personnel that are located in financial centers around the world. As a result, the Board noted that the Affiliated Sub-Advisers can provide research and investment analysis on the markets and economies of various countries and territories in which the Fund may invest, make recommendations regarding securities and assist with portfolio trading. The Board concluded that the sub-advisory contracts may benefit the Fund and its shareholders by permitting Invesco Advisers to use the resources and talents of the Affiliated Sub-Advisers in managing the Fund. The Board concluded that the nature, extent and quality of the services that may be provided to the Fund by the Affiliated Sub-Advisers supported the renewal of the sub-advisory contracts.

**INVESCO PREMIER U.S. GOVERNMENT MONEY PORTFOLIO**

The Board reviewed and considered the benefits to shareholders of investing in a Fund that is part of the Invesco family of funds under the umbrella of Invesco Ltd., Invesco Advisers' parent company, and noted Invesco Ltd.'s depth and experience in conducting an investment management business, as well as its commitment of financial and other resources to such business. The Board also reviewed and considered information regarding the benefits to the Fund resulting from Invesco Ltd.'s acquisition of OppenheimerFunds, Inc. and its subsidiaries (the Transaction) and the resources that Invesco Advisers has committed to managing the Invesco family of funds following the Transaction. The Board concluded that the nature, extent and quality of the services provided to the Fund by Invesco Advisers supported the renewal of the investment advisory agreement.

*B.* *Fund Investment Performance*

**INVESCO PREMIER PORTFOLIO**

The Board considered Fund investment performance as a relevant factor in considering whether to approve the investment advisory agreement. The Board did not view Fund investment performance as a relevant factor in considering whether to approve the sub-advisory contracts for the Fund, as no Affiliated Sub-Adviser currently manages assets of the Fund.

The Board compared the Fund's investment performance over multiple time periods ending December 31, 2024 to the performance of funds in the Broadridge performance universe and against the iMoneyNet First Tier Institutional Funds Category (Index). The Board noted that performance of Investor Class shares of the Fund was in the first quintile of its performance universe for the one, three and five year periods (the first quintile being the best performing funds on a relative basis and the fifth quintile being the worst performing funds on a relative basis). The Board noted that performance of Investor Class shares of the Fund was above the performance of the Index for the one, three and

five year periods. The Board recognized that the performance data reflects a snapshot in time as of a particular date and that selecting a different performance period could produce different results. The Board also reviewed more recent Fund performance as well as other performance metrics, which did not change its conclusions.

**INVESCO PREMIER U.S. GOVERNMENT MONEY PORTFOLIO**

The Board considered Fund investment performance as a relevant factor in considering whether to approve the investment advisory agreement.

The Board compared the Fund's investment performance over multiple time periods ending December 31, 2024 to the performance of funds in the Broadridge performance universe and against the iMoneyNet Government Institutional Funds Category (Index). The Board noted that performance of Investor Class shares of the Fund was in the first quintile of its performance universe for the one, three and five year periods (the first quintile being the best performing funds on a relative basis and the fifth quintile being the worst performing funds on a relative basis). The Board noted that performance of Investor Class shares of the Fund was above the performance of the Index for the one, three and five year periods. The Board recognized that the performance data reflects a snapshot in time as of a particular date and that selecting a different performance period could produce different results. The Board also reviewed more recent Fund performance as well as other performance metrics, which did not change its conclusions.

*C.* *Advisory and Sub-Advisory Fees and Fund Expenses*

**INVESCO PREMIER PORTFOLIO**

The Board received information regarding Invesco Advisers' approach with respect to contractual management fee schedules and compared the Fund's contractual management fee rate to the contractual management fee rates of funds in the Fund's Broadridge expense group. The Board noted that the contractual management and actual management fee rates for Investor Class shares of the Fund were each reasonably comparable to the median contractual management and actual management fee rates of funds in its expense group. The Board noted that the term "contractual management fee" and "actual management fee" for funds in the expense group may include both advisory and certain non-portfolio management administrative services fees, but that Broadridge is not able to provide information on a fund-by-fund basis as to what is included. The Board also reviewed the methodology used by Broadridge in calculating expense group information, which includes using each fund's contractual management fee schedule (including any applicable breakpoints) as reported in the most

recent prospectus or statement of additional information for each fund in the expense group. The Board also considered comparative information regarding the Fund's total expense ratio and its various components. The Board noted that the Fund differs from the other Invesco Funds in that it pays "all-inclusive" unitary advisory fees that cover various Fund operating expenses.

The Board noted that Invesco Advisers has contractually agreed to waive advisory fees of the Fund in an amount and for the term disclosed in the Fund's registration statement. The Board further noted that Invesco Advisers has voluntarily undertaken to waive fees to the extent necessary to assist the Fund in attempting to maintain a positive yield.

The Board also considered the fees charged by Invesco Advisers and its affiliates to other client accounts that are similarly managed. Invesco Advisers reviewed with the Board differences in the scope of services it provides to the Invesco Funds relative to that provided by Invesco Advisers and its affiliates to certain other types of client accounts, including, among others: management of cash flows as a result of redemptions and purchases; necessary infrastructure such as officers, office space, technology, legal and distribution; oversight of service providers; costs and business risks associated with launching new funds and sponsoring and maintaining the product line; and compliance with federal and state laws and regulations. Invesco Advisers also advised the Board that many of the similarly managed client accounts have all-inclusive fee structures, which are not easily un-bundled.

The Board also compared the Fund's advisory fee rate before the application of advisory fee waivers/expense limitations to the effective advisory fee rates before the application of advisory fee waivers/expense limitations of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2024.

The Board also considered the services that may be provided by the Affiliated Sub-Advisers pursuant to the sub-advisory contracts, as well as the fees payable by Invesco Advisers to the Affiliated Sub-Advisers pursuant to the sub-advisory contracts.

**INVESCO PREMIER U.S. GOVERNMENT MONEY PORTFOLIO**

The Board received information regarding Invesco Advisers' approach with respect to contractual management fee schedules and compared the Fund's contractual management fee rate to the contractual management fee rates of funds in the Fund's Broadridge expense group. The Board noted that the contractual management and actual management fee rates for Investor Class shares of the Fund were above and reasonably comparable to, respectively, the median contractual management and actual

**25**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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management fee rates of funds in its expense group. The Board noted that the term "contractual management fee" and "actual management fee" for funds in the expense group may include both advisory and certain non-portfolio management administrative services fees, but that Broadridge is not able to provide information on a fund-by-fund basis as to what is included. The Board also reviewed the methodology used by Broadridge in calculating expense group information, which includes using each fund's contractual management fee schedule (including any applicable breakpoints) as reported in the most recent prospectus or statement of additional information for each fund in the expense group. The Board also considered comparative information regarding the Fund's total expense ratio and its various components. The Board noted that the Fund differs from the other Invesco Funds in that it pays "all-inclusive" unitary advisory fees that cover various Fund operating expenses. The Board noted that the Fund's, contractual management fees were in the fourth quintile of its expense group and discussed with management reasons for such relative contractual management fees.

The Board noted that Invesco Advisers has contractually agreed to waive advisory fees of the Fund in an amount and for the term disclosed in the Fund's registration statement. The Board further noted that Invesco Advisers has voluntarily undertaken to waive fees to the extent necessary to assist the Fund in attempting to maintain a positive yield.

The Board also considered the fees charged by Invesco Advisers and its affiliates to other client accounts that are similarly managed. Invesco Advisers reviewed with the Board differences in the scope of services it provides to the Invesco Funds relative to that provided by Invesco Advisers and its affiliates to certain other types of client accounts, including, among others: management of cash flows as a result of redemptions and purchases; necessary infrastructure such as officers, office space, technology, legal and distribution; oversight of service providers; costs and business risks associated with launching new funds and sponsoring and maintaining the product line; and compliance with federal and state laws and regulations. Invesco Advisers also advised the Board that many of the similarly managed client accounts have all-inclusive fee structures, which are not easily un-bundled.

The Board also compared the Fund's advisory fee rate before the application of advisory fee waivers/expense limitations to the effective advisory fee rates before the application of advisory fee waivers/expense limitations of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2024.

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

*D.* *Economies of Scale and Breakpoints*

The Board considered the extent to which there may be economies of scale in the provision of advisory services to each Fund and the Invesco Funds, and the extent to which such economies of scale are shared with each Fund and the Invesco Funds. The Board acknowledged the limitations in calculating and measuring economies of scale at the individual fund level; noting that only indicative and estimated measures are available at the individual fund level and that such measures are subject to uncertainty. The Board noted that each Fund does not benefit from economies of scale through contractual breakpoints, but does share in economies of scale through Invesco Advisers' ability to negotiate lower fee arrangements with third party service providers. The Board noted that each Fund may also benefit from economies of scale through initial fee setting, fee waivers and expense reimbursements, as well as Invesco Advisers' management of significant assets and investment in its business, including investments in business infrastructure, technology and cybersecurity.

*E.* *Profitability and Financial Resources*

The Board reviewed information from Invesco Advisers concerning the costs of the advisory and other services that Invesco Advisers and its affiliates provide to each Fund and the Invesco Funds and the profitability of Invesco Advisers and its affiliates in providing these services in the aggregate and on an individual fund-by-fund basis. The Board considered the methodology used for calculating profitability and the periodic review and enhancement of such methodology. The Board noted that Invesco Advisers continues to operate at a net profit from services Invesco Advisers and its affiliates provide to the Invesco Funds in the aggregate and to most Invesco Funds individually. The Board considered that profits to Invesco Advisers can vary significantly depending on the particular Invesco Fund, with some Invesco Funds showing indicative losses to Invesco Advisers and others showing indicative profits at healthy levels, and that Invesco Advisers' support for and commitment to an Invesco Fund are not, however, solely dependent on the profits attributed to such Fund. The Board did not deem the level of profits realized by Invesco Advisers and its affiliates from providing such services to be excessive, given the nature, extent and quality of the services provided. The Board noted that Invesco Advisers provided information demonstrating that Invesco Advisers is financially sound and has the resources necessary to perform its obligations under the investment advisory agreement, and provided representations indicating that the Affiliated Sub-Advisers are financially sound and have the resources necessary to perform their obligations under the sub-advisory contracts. The Board noted the cyclical and competitive

nature of the global asset management industry.&nbsp;&nbsp;&nbsp;&nbsp;

*F.* *Collateral Benefits to Invesco Advisers and its Affiliates*

The Board considered various other benefits received by Invesco Advisers and its affiliates from the relationship with each Fund, including the fees received for providing administrative, transfer agency and distribution services to each Fund. The Board received comparative information regarding fees charged for these services, including information provided by Broadridge and other independent sources. The Board reviewed the performance of Invesco Advisers and its affiliates in providing these services and the organizational structure employed to provide these services. The Board noted that these services are provided to each Fund pursuant to written contracts that are reviewed and subject to approval on an annual basis by the Board based on its reasonable business judgement and in accordance with applicable regulatory guidance.

\*Effective as of August 29, 2025, Invesco Asset Management Deutschland GmbH merged into Invesco Management S.A.

**26**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year-end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Funds designate the following amounts or, if subsequently determined to be different, the maximum amount allowable for their fiscal year ended August 31, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Federal and State** <br> **Income Tax**<br>|  |  |  |  |  |  |
|  | **Business Interest** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Qualified Business** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Qualified Dividend** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Corporate** <br>**Dividends** <br>**Received** <br>**Deduction\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **U.S Treasury** <br>**Obligations\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Long Term** <br>**Capital Gain Distributions**<br>|
| Invesco Premier <br> Portfolio<br>| &nbsp;&nbsp; 99.93% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; $0.00 |
| Invesco Premier <br> U.S. Government <br> Money Portfolio<br>| &nbsp;&nbsp; 99.94% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 17.18% | &nbsp;&nbsp;&nbsp;&nbsp; 58146.00 |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during each Fund's fiscal year.

---

| | | |
|:---|:---|:---|
| **Non-Resident Alien Shareholders** |  |  |
|  | **Qualified** <br>**Short-Term Gains**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Qualified** <br>**Interest Income\*\***<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp; $2356 | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% |
| Invesco Premier U.S. Government Money Portfolio | &nbsp;&nbsp; 618336 | &nbsp;&nbsp;&nbsp;&nbsp; 100.00% |

---

\*\*

The above percentages are based on income dividends paid to shareholders during each Fund's fiscal year.

**27**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

The statement regarding basis for approval of investment advisory contracts can be found in the Approval of Investment Advisory and Sub-Advisory Contracts section of this report.

**28**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

![](imga2dff1501.jpg)

SEC file numbers: 811-05460 and 033-19862

Invesco Distributors, Inc.

CM-I-TST-NCSR-INV

------

![](img0af682d61.jpg)

------

**Annual Financial Statements and Other Information**

**August 31, 2025**

**Institutional Class**

**AIM Treasurer's Series Trust**

**(Invesco Treasurer's Series Trust)**

Invesco Premier Portfolio

Invesco Premier U.S. Government Money Portfolio

------

---

| | |
|:---|:---|
| [2](#xx_c76b8e99-0fe7-4da1-af42-acc132305b02_SOI-Continued-479_1) | Schedules of Investments |
| [14](#xx_c76b8e99-0fe7-4da1-af42-acc132305b02_FS-Continued-479_1) | Financial Statements |
| [17](#xx_c76b8e99-0fe7-4da1-af42-acc132305b02_FS-Continued-479_4) | Financial Highlights |
| [18](#xx_c76b8e99-0fe7-4da1-af42-acc132305b02_NTF-Continued-479_1) | Notes to Financial Statements |
| [23](#xx_c76b8e99-0fe7-4da1-af42-acc132305b02_RIR-Continued-479_1) | Report of Independent Registered Public Accounting Firm |
| [24](#xx_c76b8e99-0fe7-4da1-af42-acc132305b02_AOC-Continued-479_1) | Approval of Investment Advisory and Sub-Advisory Contracts |
| [27](#xx_c76b8e99-0fe7-4da1-af42-acc132305b02_TI-Continued-479_1) | Tax Information |
| [28](#xx_c76b8e99-0fe7-4da1-af42-acc132305b02_OIRSR-Continued-479_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments**

*August 31, 2025*

**Invesco Premier Portfolio**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  |
| **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** |
| BofA Securities, Inc. (SOFR + 0.43%)<sup>(b)</sup> <br>| 4.85% | 04/29/2026 | $25000 | &nbsp;&nbsp; $25000000 |
| BofA Securities, Inc. | 4.25% | 05/06/2026 | 50000 | &nbsp;&nbsp; 48586611 |
| BofA Securities, Inc. | 4.24% | 05/21/2026 | 10000 | &nbsp;&nbsp; 9700884 |
|  |  |  |  | &nbsp;&nbsp; 83287495 |
| **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** |
| Old Line Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.41% | 12/01/2025 | 50000 | &nbsp;&nbsp; 49456528 |
| Old Line Funding LLC (CEP-Royal Bank of Canada) (SOFR + 0.34%)<sup>(b)(c)(d)</sup> <br>| 4.76% | 06/04/2026 | 35000 | &nbsp;&nbsp; 35000000 |
| Old Line Funding LLC (CEP - Royal Bank of Canada) (SOFR + 0.35%)<sup>(b)(c)(d)</sup> <br>| 4.74% | 07/02/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Old Line Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.33% | 07/17/2026 | 50000 | &nbsp;&nbsp; 48161319 |
| Old Line Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.20% | 08/14/2026 | 40000 | &nbsp;&nbsp; 38446211 |
| Thunder Bay Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.20% | 08/14/2026 | 50000 | &nbsp;&nbsp; 48057764 |
|  |  |  |  | &nbsp;&nbsp; 269121822 |
| **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** |
| Atlantic Asset Securitization LLC (CEP-Credit Agricole Corporate & Investment Bank <br> S.A.)<sup>(c)(d)</sup> <br>| 4.43% | 01/21/2026 | 40000 | &nbsp;&nbsp; 39316822 |
| **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** |
| Anglesea Funding LLC (Multi-CEP's) (01 mo. OBFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.65% | 01/26/2026 | 80000 | &nbsp;&nbsp; 80000000 |
| Anglesea Funding LLC (Multi-CEP's) (01 mo. OBFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.70% | 02/11/2026 | 80000 | &nbsp;&nbsp; 80000000 |
| Anglesea Funding LLC (Multi-CEP's) (01 mo. OBFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.64% | 02/24/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Concord Minutemen Capital Co. LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.35% | 11/25/2025 | 61760 | &nbsp;&nbsp; 61132965 |
| Lexington Parker Capital Co. LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.35% | 09/02/2025 | 134132 | &nbsp;&nbsp; 134115792 |
| Mont Blanc Capital Corp. (CEP-ING Bank N.V.)<sup>(c)(d)</sup> <br>| 4.31% | 12/15/2025 | 30000 | &nbsp;&nbsp; 29628125 |
| Mountcliff Funding LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.49% | 09/04/2025 | 50000 | &nbsp;&nbsp; 49981500 |
| Mountcliff Funding LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.39% | 11/07/2025 | 100000 | &nbsp;&nbsp; 99190417 |
| Versailles Commercial Paper LLC (CEP-Natixis SA) (SOFR + 0.18%)<sup>(b)(c)(d)</sup> <br>| 4.60% | 10/22/2025 | 100000 | &nbsp;&nbsp; 100000000 |
|  |  |  |  | &nbsp;&nbsp; 684048799 |
| **Consumer Finance-0.51%** | **Consumer Finance-0.51%** | **Consumer Finance-0.51%** | **Consumer Finance-0.51%** | **Consumer Finance-0.51%** |
| Toyota Motor Credit Corp.<sup>(d)</sup> <br>| 4.45% | 12/04/2025 | 50000 | &nbsp;&nbsp; 49428167 |
| **Diversified Banks-16.13%** | **Diversified Banks-16.13%** | **Diversified Banks-16.13%** | **Diversified Banks-16.13%** | **Diversified Banks-16.13%** |
| ANZ New Zealand Int'l Ltd. (United Kingdom)<sup>(c)(d)</sup> <br>| 4.14% | 03/02/2026 | 50000 | &nbsp;&nbsp; 48959250 |
| Australia & New Zealand Banking Group Ltd. (Australia)<sup>(c)(d)</sup> <br>| 4.21% | 02/23/2026 | 65000 | &nbsp;&nbsp; 63696615 |
| Bank of New York Mellon (The) (SOFR + 0.18%)<sup>(b)</sup> <br>| 4.84% | 09/30/2025 | 60100 | &nbsp;&nbsp; 60100000 |
| Barclays Bank PLC (SOFR + 0.20%)<sup>(b)(c)(d)</sup> <br>| 4.69% | 09/12/2025 | 50000 | &nbsp;&nbsp; 50000000 |
| Barclays Bank PLC<sup>(c)(d)</sup> <br>| 4.50% | 11/17/2025 | 75000 | &nbsp;&nbsp; 74294166 |
| Barclays Bank PLC (SOFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.66% | 01/06/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| Barclays Bank PLC<sup>(c)(d)</sup> <br>| 4.29% | 02/20/2026 | 30000 | &nbsp;&nbsp; 29398000 |
| BNG Bank N.V. (Netherlands)<sup>(c)(d)</sup> <br>| 4.33% | 09/04/2025 | 200000 | &nbsp;&nbsp; 199927833 |
| Citigroup Global Markets, Inc.<sup>(c)</sup> <br>| 4.63% | 11/14/2025 | 25000 | &nbsp;&nbsp; 24772861 |
| Citigroup Global Markets, Inc. (SOFR + 0.22%)<sup>(b)(c)</sup> <br>| 4.65% | 12/19/2025 | 55000 | &nbsp;&nbsp; 55000000 |
| Citigroup Global Markets, Inc.<sup>(c)</sup> <br>| 4.37% | 05/14/2026 | 25000 | &nbsp;&nbsp; 24258021 |
| Citigroup Global Markets, Inc. (SOFR + 0.34%)<sup>(b)(c)</sup> <br>| 4.75% | 06/17/2026 | 75000 | &nbsp;&nbsp; 75000000 |
| Dexia S.A. (France)<sup>(c)(d)</sup> <br>| 4.39% | 10/23/2025 | 50000 | &nbsp;&nbsp; 49686556 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**2**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Diversified Banks-(continued)** | **Diversified Banks-(continued)** | **Diversified Banks-(continued)** | **Diversified Banks-(continued)** | **Diversified Banks-(continued)** |
| DNB Bank ASA (Norway)<sup>(c)(d)</sup> <br>| 4.59% | 11/12/2025 | $10000 | &nbsp;&nbsp; $9912200 |
| DNB Bank ASA (Norway)<sup>(c)(d)</sup> <br>| 4.33% | 04/20/2026 | 50000 | &nbsp;&nbsp; 48655708 |
| DNB Bank ASA (Norway)<sup>(c)(d)</sup> <br>| 4.27% | 07/07/2026 | 40000 | &nbsp;&nbsp; 38592333 |
| HSBC Bank PLC (SOFR + 0.36%) (United Kingdom)<sup>(b)(c)(d)</sup> <br>| 4.87% | 09/11/2025 | 25000 | &nbsp;&nbsp; 25000000 |
| HSBC Bank PLC (SOFR + 0.36%) (United Kingdom)<sup>(b)(c)(d)</sup> <br>| 4.89% | 09/25/2025 | 50000 | &nbsp;&nbsp; 49999666 |
| ING (US) Funding LLC<sup>(c)(d)</sup> <br>| 4.50% | 10/07/2025 | 50000 | &nbsp;&nbsp; 49785000 |
| ING (US) Funding LLC (SOFR + 0.24%)<sup>(b)(c)(d)</sup> <br>| 4.60% | 10/24/2025 | 51000 | &nbsp;&nbsp; 51000000 |
| ING US Funding LLC (SOFR + 0.33%)<sup>(b)(c)(d)</sup> <br>| 4.77% | 12/18/2025 | 25000 | &nbsp;&nbsp; 25000000 |
| ING US Funding LLC (SOFR + 0.26%)<sup>(b)(c)(d)</sup> <br>| 4.64% | 03/09/2026 | 25000 | &nbsp;&nbsp; 24997394 |
| ING US Funding LLC<sup>(c)(d)</sup> <br>| 4.43% | 05/01/2026 | 40000 | &nbsp;&nbsp; 38846467 |
| Lloyds Bank PLC (United Kingdom)<sup>(d)</sup> <br>| 4.24% | 02/09/2026 | 51445 | &nbsp;&nbsp; 50490195 |
| Lloyds Bank PLC (United Kingdom)<sup>(d)</sup> <br>| 4.24% | 02/11/2026 | 49600 | &nbsp;&nbsp; 48668002 |
| Lloyds Bank PLC (United Kingdom)<sup>(c)(d)</sup> <br>| 4.35% | 04/24/2026 | 50000 | &nbsp;&nbsp; 48625903 |
| National Australia Bank Ltd. (SOFR + 0.20%) (Australia)<sup>(b)(c)(d)</sup> <br>| 4.59% | 11/03/2025 | 75000 | &nbsp;&nbsp; 75000000 |
| Skandinaviska Enskilda Banken AB (Sweden)<sup>(c)(d)</sup> <br>| 4.50% | 10/29/2025 | 50000 | &nbsp;&nbsp; 49653611 |
| UBS AG (SOFR + 0.38%)<sup>(b)(c)(d)</sup> <br>| 4.78% | 05/15/2026 | 25000 | &nbsp;&nbsp; 25000000 |
| Westpac Banking Corp. (SOFR + 0.33%) (Australia)<sup>(b)(c)(d)</sup> <br>| 4.83% | 09/04/2025 | 50000 | &nbsp;&nbsp; 50000000 |
|  |  |  |  | &nbsp;&nbsp; 1564319781 |
| **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** |
| Collateralized Commercial Paper V Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.28%)<sup>(b)</sup> <br>| 4.72% | 12/16/2025 | 25000 | &nbsp;&nbsp; 25000000 |
| Collateralized Commercial Paper V Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.29%)<sup>(b)</sup> <br>| 4.74% | 02/09/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Collateralized Commercial Paper V Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.30%)<sup>(b)</sup> <br>| 4.71% | 03/10/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Endeavour Funding Co. LLC (CEP-HSBC Bank PLC)<sup>(c)(d)</sup> <br>| 4.38% | 09/02/2025 | 50000 | &nbsp;&nbsp; 49993917 |
| Great Bear Funding LLC (CEP - Bank of Nova Scotia) (01 mo. OBFR + 0.23%)<sup>(b)(d)</sup> <br>| 4.69% | 02/23/2026 | 95000 | &nbsp;&nbsp; 95000000 |
| Great Bear Funding LLC (CEP - Bank of Nova Scotia) (01 mo. OBFR + 0.26%)<sup>(b)(d)</sup> <br>| 4.64% | 04/30/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Lion Bay Funding LLC (Multi-CEP's) (SOFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.72% | 12/15/2025 | 50000 | &nbsp;&nbsp; 50000000 |
| Mackinac Funding Co. LLC (CEP-BNP Paribas SA)<sup>(c)(d)</sup> <br>| 4.48% | 09/04/2025 | 75000 | &nbsp;&nbsp; 74972312 |
| Park Avenue Collateralized Notes Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.36%)<sup>(b)(c)</sup> <br>| 4.83% | 01/27/2026 | 25000 | &nbsp;&nbsp; 25000000 |
| UBS AG<sup>(c)(d)</sup> <br>| 4.47% | 10/08/2025 | 25000 | &nbsp;&nbsp; 24890028 |
| UBS AG (SOFR + 0.39%)<sup>(b)(c)(d)</sup> <br>| 4.82% | 12/01/2025 | 50000 | &nbsp;&nbsp; 50000000 |
| UBS AG (SOFR + 0.39%)<sup>(b)(c)(d)</sup> <br>| 4.85% | 01/02/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| UBS AG (SOFR + 0.32%)<sup>(b)(c)(d)</sup> <br>| 4.73% | 03/02/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| UBS AG (SOFR + 0.37%)<sup>(b)(c)(d)</sup> <br>| 4.79% | 06/17/2026 | 35000 | &nbsp;&nbsp; 35000000 |
|  |  |  |  | &nbsp;&nbsp; 729856257 |
| **Regional Banks-2.06%** | **Regional Banks-2.06%** | **Regional Banks-2.06%** | **Regional Banks-2.06%** | **Regional Banks-2.06%** |
| ASB Bank Ltd. (SOFR + 0.35%) (New Zealand)<sup>(b)(c)(d)</sup> <br>| 4.79% | 02/17/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| ASB Bank Ltd. (SOFR + 0.32%) (New Zealand)<sup>(b)(c)(d)</sup> <br>| 4.78% | 02/27/2026 | 100000 | &nbsp;&nbsp; 100000000 |
|  |  |  |  | &nbsp;&nbsp; 200000000 |
| **Specialized Finance-5.60%** | **Specialized Finance-5.60%** | **Specialized Finance-5.60%** | **Specialized Finance-5.60%** | **Specialized Finance-5.60%** |
| Aquitaine Funding Co. LLC (CEP-Societe Generale S.A.)<sup>(c)(d)</sup> <br>| 4.40% | 09/02/2025 | 200000 | &nbsp;&nbsp; 199975555 |
| Aquitaine Funding Co. LLC (CEP-Societe Generale S.A.)<sup>(c)(d)</sup> <br>| 4.50% | 09/03/2025 | 100000 | &nbsp;&nbsp; 99975278 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**3**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** |
| Cabot Trail Funding LLC (CEP-Toronto-Dominion Bank) (SOFR + 0.18%)<sup>(b)(d)</sup> <br>| 4.67% | 09/05/2025 |  | $30000 | &nbsp;&nbsp; $30000000 |
| CDP Financial, Inc. (Canada)<sup>(c)(d)</sup> <br>| 4.51% | 01/08/2026 |  | 50000 | &nbsp;&nbsp; 49227792 |
| CDP Financial, Inc. (Canada)<sup>(c)(d)</sup> <br>| 4.53% | 02/03/2026 |  | 65000 | &nbsp;&nbsp; 63788201 |
| Concord Minutemen Capital Co. LLC (CEP-Goldman Sachs International) (SOFR + 0.30%)<sup>(b)(c)</sup> <br>| 4.65% | 12/23/2025 |  | 35000 | &nbsp;&nbsp; 35000000 |
| Concord Minutemen Capital Co. LLC (CEP-Goldman Sachs International)<sup>(c)</sup> <br>| 4.33% | 02/25/2026 |  | 15000 | &nbsp;&nbsp; 14688037 |
| Podium Funding Trust (CEP-Bank of Montreal) (SOFR + 0.34%) (Canada)<sup>(b)(d)</sup> <br>| 4.69% | 03/05/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
|  |  |  |  |  | &nbsp;&nbsp; 542654863 |
| Total Commercial Paper (Cost $4,162,034,006) | Total Commercial Paper (Cost $4,162,034,006) | Total Commercial Paper (Cost $4,162,034,006) | Total Commercial Paper (Cost $4,162,034,006) |  | &nbsp;&nbsp; 4162034006 |
| **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** |
| Australia & New Zealand Banking Group Ltd. (Cayman Islands)<sup>(d)</sup> <br>| 4.32% | 09/02/2025 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Bank of America N.A. | 4.49% | 01/07/2026 |  | 75000 | &nbsp;&nbsp; 75000000 |
| Bank of America N.A. | 4.24% | 03/02/2026 |  | 25000 | &nbsp;&nbsp; 25000000 |
| Bank of America N.A. (SOFR + 0.34%)<sup>(b)</sup> <br>| 4.70% | 04/27/2026 |  | 80000 | &nbsp;&nbsp; 80000000 |
| Barclays Bank PLC (SOFR + 0.35%) (United Kingdom)<sup>(b)(d)</sup> <br>| 4.69% | 10/15/2025 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Canadian Imperial Bank of Commerce (Canada)<sup>(d)</sup> <br>| 4.32% | 09/02/2025 |  | 90000 | &nbsp;&nbsp; 90000000 |
| Canadian Imperial Bank of Commerce (SOFR + 0.36%) (Canada)<sup>(b)(d)</sup> <br>| 4.70% | 11/17/2025 |  | 41000 | &nbsp;&nbsp; 41000000 |
| Canadian Imperial Bank of Commerce (SOFR + 0.40%) (Canada)<sup>(b)(d)</sup> <br>| 4.74% | 09/08/2026 |  | 80000 | &nbsp;&nbsp; 80000000 |
| Citibank N.A. (SOFR + 0.35%)<sup>(b)</sup> <br>| 4.69% | 10/27/2025 |  | 75000 | &nbsp;&nbsp; 75000000 |
| Cooperatieve Rabobank U.A. (Cayman Islands)<sup>(d)</sup> <br>| 4.32% | 09/02/2025 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Credit Agricole Corporate and Investment Bank<sup>(d)</sup> <br>| 4.34% | 04/30/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Credit Agricole Corporate And Investment Bank<sup>(d)</sup> <br>| 4.31% | 09/02/2025 |  | 200000 | &nbsp;&nbsp; 200000000 |
| KEB Hana Bank<sup>(d)</sup> <br>| 4.42% | 12/15/2025 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Korea Development Bank<sup>(d)</sup> <br>| 4.26% | 03/02/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Mitsubishi UFJ Trust & Banking Corp. (SOFR + 0.23%) (Japan)<sup>(b)(d)</sup> <br>| 4.57% | 12/11/2025 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Mitsubishi UFJ Trust & Banking Corp. (SOFR + 0.22%)<sup>(b)(d)</sup> <br>| 4.56% | 02/06/2026 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Mizuho Bank Ltd.<sup>(d)</sup> <br>| 4.33% | 09/02/2025 |  | 30000 | &nbsp;&nbsp; 30000000 |
| Mizuho Bank Ltd.<sup>(d)</sup> <br>| 4.33% | 09/02/2025 |  | 220000 | &nbsp;&nbsp; 220000000 |
| Mizuho Bank Ltd.<sup>(d)</sup> <br>| 4.36% | 09/02/2025 |  | 200000 | &nbsp;&nbsp; 200000000 |
| Standard Chartered Bank (SOFR + 0.26%) (United Kingdom)<sup>(b)(d)</sup> <br>| 4.60% | 02/06/2026 |  | 90000 | &nbsp;&nbsp; 90000000 |
| Sumitomo Mitsui Banking Corp. (SOFR + 0.22%)<sup>(b)(d)</sup> <br>| 4.56% | 02/26/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Swedbank AB<sup>(d)</sup> <br>| 4.31% | 04/24/2026 |  | 25000 | &nbsp;&nbsp; 25000000 |
| Toronto-Dominion Bank (Canada)<sup>(d)</sup> <br>| 4.38% | 07/09/2026 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Total Certificates of Deposit (Cost $1,981,000,000) | Total Certificates of Deposit (Cost $1,981,000,000) | Total Certificates of Deposit (Cost $1,981,000,000) | Total Certificates of Deposit (Cost $1,981,000,000) |  | &nbsp;&nbsp; 1981000000 |
| **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  |
| **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** |
| Altoona-Blair County Development Corp.; Series 2015, VRD Bonds (LOC - PNC Bank, <br> N.A.)<sup>(c)(f)</sup> <br>| 4.41% | 04/01/2035 |  | 17850 | &nbsp;&nbsp; 17850000 |
| Jets Stadium Development LLC; Series 2014 A-4B, VRD Bonds (LOC - Sumitomo Mitsui <br> Banking Corp.)<sup>(c)(d)(f)</sup> <br>| 4.80% | 04/01/2047 |  | 12600 | &nbsp;&nbsp; 12600000 |
| Jets Stadium Development LLC; Series 2014 A-4C, VRD Bonds (LOC - Sumitomo Mitsui <br> Banking Corp.)<sup>(c)(d)(f)</sup> <br>| 4.80% | 04/01/2047 |  | 27300 | &nbsp;&nbsp; 27300000 |
| Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank, N.A.)<sup>(f)</sup> <br>| 4.42% | 05/01/2037 |  | 13160 | &nbsp;&nbsp; 13160000 |
| Ziegler Realty LLC; Series 2007, VRD Notes (LOC - Wells Fargo Bank, N.A.)<sup>(c)(f)</sup> <br>| 4.48% | 01/01/2033 |  | 3800 | &nbsp;&nbsp; 3800000 |
|  |  |  |  |  | &nbsp;&nbsp; 74710000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**4**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** |
| Board of Regents of the University of Texas System; Series 2016, RB | 4.32% | 08/01/2045 |  | $27550 | &nbsp;&nbsp; $27550000 |
| Total Variable Rate Demand Notes (Cost $102,260,000) | Total Variable Rate Demand Notes (Cost $102,260,000) | Total Variable Rate Demand Notes (Cost $102,260,000) | Total Variable Rate Demand Notes (Cost $102,260,000) |  | &nbsp;&nbsp; 102260000 |
| TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) |  | &nbsp;&nbsp; 6245294006 |
|  |  |  | &nbsp;&nbsp; **Repurchase**<br> **Amount** | &nbsp;&nbsp; **Repurchase**<br> **Amount** |  |
| **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  |
| ABN AMRO Bank N.V., joint agreement dated 08/29/2025, aggregate maturing value of <br> $550,265,222 (collateralized by agency mortgage-backed securities and U.S. Treasury <br> obligations valued at $561,000,046; 0.38% - 7.00%; 04/30/2026 - 08/20/2055)<br>| 4.34% | 09/02/2025 |  | 100048222 | &nbsp;&nbsp; 100000000 |
| Bank of Nova Scotia, joint term agreement dated 08/25/2025, aggregate maturing value <br> of $400,397,666 (collateralized by corporate obligations and non-agency asset-backed <br> securities valued at $420,365,362; 2.26% - 10.08%; 05/01/2027 - <br> 11/22/2052)<sup>(d)(h)(i)</sup> <br>| 4.48% | 09/02/2025 |  | 50049708 | &nbsp;&nbsp; 50000000 |
| Bank of Nova Scotia, joint term agreement dated 08/25/2025, aggregate maturing value <br> of $600,600,500 (collateralized by equity securities valued at $630,378,305; <br> 0.00%)<sup>(d)(h)(i)</sup> <br>| 4.51% | 09/02/2025 |  | 240240200 | &nbsp;&nbsp; 240000000 |
| BMO Capital Markets Corp., joint term agreement dated 08/29/2025, aggregate maturing <br> value of $125,550,521 (collateralized by agency and non-agency asset-backed <br> securities, corporate obligations and non-agency mortgage-backed securities valued at <br> $133,974,061; 0.00% - 12.57%; 03/15/2027 - 08/25/2070)<sup>(d)(i)</sup> <br>| 4.53% | 10/03/2025 |  | 60264250 | &nbsp;&nbsp; 60000000 |
| BMO Capital Markets Corp., joint term agreement dated 08/29/2025, aggregate maturing <br> value of $577,515,625 (collateralized by corporate obligations, non-agency <br> asset-backed securities and non-agency mortgage-backed securities valued at <br> $603,750,677; 0.00% - 9.57%; 04/15/2026 - 05/25/2070)<sup>(d)(i)</sup> <br>| 4.50% | 10/03/2025 |  | 145634375 | &nbsp;&nbsp; 145000000 |
| BNP Paribas Securities Corp., joint term agreement dated 06/25/2025, aggregate <br> maturing value of $300,155,334 (collateralized by corporate obligations and <br> non-agency asset-backed securities valued at $329,765,156; 1.86% - 13.00%; <br> 02/15/2026 - 01/15/2084)<sup>(d)(h)(i)</sup> <br>| 4.66% | 09/02/2025 |  | 100051778 | &nbsp;&nbsp; 100000000 |
| BNP Paribas Securities Corp., joint term agreement dated 07/10/2025, aggregate <br> maturing value of $2,501,233,333 (collateralized by agency mortgage-backed <br> securities, U.S. government sponsored agency obligations and U.S. Treasury obligations <br> valued at $2,550,000,006; 0.00% - 8.00%; 09/04/2025 - 04/20/2065)<sup>(h)(i)</sup> <br>| 4.44% | 09/02/2025 |  | 45022200 | &nbsp;&nbsp; 45000000 |
| BNP Paribas Securities Corp., joint term agreement dated 07/30/2025, aggregate <br> maturing value of $300,153,666 (collateralized by agency and non-agency <br> mortgage-backed securities, corporate obligations and non-agency asset-backed <br> securities valued at $315,000,001; 0.63% - 8.75%; 09/12/2025 - <br> 10/31/2082)<sup>(d)(h)(i)</sup> <br>| 4.61% | 09/02/2025 |  | 150076833 | &nbsp;&nbsp; 150000000 |
| BNP Paribas Securities Corp., joint term agreement dated 08/27/2025, aggregate <br> maturing value of $300,258,417 (collateralized by corporate obligations, non-agency <br> asset-backed securities and non-agency mortgage-backed securities valued at <br> $315,000,489; 0.63% - 9.25%; 09/01/2025 - 07/01/2116)<sup>(d)(i)</sup> <br>| 4.43% | 09/03/2025 |  | 100086139 | &nbsp;&nbsp; 100000000 |
| Citigroup Global Markets, Inc., joint agreement dated 08/29/2025, aggregate maturing <br> value of $1,000,481,111 (collateralized by U.S. Treasury obligations valued at <br> $1,020,119,984; 0.13% - 6.25%; 04/30/2030 - 07/31/2030)<br>| 4.33% | 09/02/2025 |  | 250120278 | &nbsp;&nbsp; 250000000 |
| Credit Agricole Corporate & Investment Bank, joint open agreement dated 08/14/2025 <br> (collateralized by commercial paper, corporate obligations, non-agency asset-backed <br> securities and non-agency mortgage-backed securities valued at $317,082,606; <br> 0.00% - 9.50%; 09/21/2025 - 08/25/2067)<sup>(d)(j)</sup> <br>| 4.46% | 09/02/2025 |  | 50117250 | &nbsp;&nbsp; 50000000 |
| ING Financial Markets, LLC, joint agreement dated 08/29/2025, aggregate maturing value <br> of $400,195,556 (collateralized by equity securities valued at $420,000,006; <br> 0.00%)<sup>(d)</sup> <br>| 4.40% | 09/02/2025 |  | 90044000 | &nbsp;&nbsp; 90000000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**5**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Repurchase**<br> **Amount** | &nbsp;&nbsp; **Repurchase**<br> **Amount** | **Value** |
| J.P. Morgan Securities LLC, open agreement dated 07/17/2024 (collateralized by <br> commercial paper and corporate obligations valued at $192,499,391; 0.00% - <br> 12.50%; 04/30/2026 - 08/30/2033)<sup>(j)</sup> <br>| 4.63% | 09/02/2025 |  | $175720222 | &nbsp;&nbsp; $175000000 |
| Mitsubishi UFJ Trust & Banking Corp., agreement dated 08/29/2025, maturing value of <br> $50,024,667 (collateralized by agency mortgage-backed securities valued at <br> $51,000,000; 4.77% - 5.54%; 09/16/2044 - 04/20/2072)<sup>(d)</sup> <br>| 4.44% | 09/02/2025 |  | 50024667 | &nbsp;&nbsp; 50000000 |
| Mizuho Securities (USA) LLC, joint open agreement dated 05/05/2025 (collateralized by <br> equity securities valued at $84,000,230; 0.00%)<sup>(d)(j)</sup> <br>| 4.48% | 09/02/2025 |  | 30014933 | &nbsp;&nbsp; 30000000 |
| RBC Capital Markets LLC, joint term agreement dated 08/26/2025, aggregate maturing <br> value of $150,131,250 (collateralized by corporate obligations valued at <br> $164,656,880; 0.00% - 12.75%; 09/01/2025 - 10/01/2097)<sup>(d)(i)</sup> <br>| 4.50% | 09/02/2025 |  | 30026250 | &nbsp;&nbsp; 30000000 |
| Societe Generale, open agreement dated 07/17/2024 (collateralized by corporate <br> obligations, non-agency asset-backed securities, non-agency mortgage-backed <br> securities and U.S. Treasury obligations valued at $86,609,925; 0.00% - 13.50%; <br> 09/15/2025 - 08/15/2076)<sup>(d)(j)</sup> <br>| 4.51% | 09/02/2025 |  | 80040089 | &nbsp;&nbsp; 80000000 |
| Standard Chartered Bank, joint agreement dated 08/29/2025, aggregate maturing value <br> of $4,001,924,444 (collateralized by U.S. Treasury obligations valued at <br> $4,081,962,968; 0.00% - 4.88%; 10/02/2025 - 02/15/2054)<br>| 4.33% | 09/02/2025 |  | 1453776621 | &nbsp;&nbsp; 1453077529 |
| TD Securities (USA) LLC, joint term agreement dated 08/26/2025, aggregate maturing <br> value of $250,214,375 (collateralized by corporate obligations valued at <br> $262,504,831; 1.05% - 6.00%; 09/14/2026 - 06/30/2059)<sup>(d)(i)</sup> <br>| 4.41% | 09/02/2025 |  | 50042875 | &nbsp;&nbsp; 50000000 |
| Wells Fargo Securities, LLC, term agreement dated 08/29/2025, maturing value of <br> $278,698,139 (collateralized by corporate obligations, non-agency asset-backed <br> securities and a non-agency mortgage-backed security valued at $294,801,020; <br> 0.00% - 22.00%; 09/01/2025 - 07/15/2060)<br>| 4.94% | 12/05/2025 |  | 278698139 | &nbsp;&nbsp; 275000000 |
| Total Repurchase Agreements (Cost $3,523,077,529) | Total Repurchase Agreements (Cost $3,523,077,529) | Total Repurchase Agreements (Cost $3,523,077,529) | Total Repurchase Agreements (Cost $3,523,077,529) |  | &nbsp;&nbsp; 3523077529 |
| TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) | TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) | TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) | TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) |  | &nbsp;&nbsp; 9768371535 |
| OTHER ASSETS LESS LIABILITIES-(0.71)% | OTHER ASSETS LESS LIABILITIES-(0.71)% | OTHER ASSETS LESS LIABILITIES-(0.71)% | OTHER ASSETS LESS LIABILITIES-(0.71)% |  | &nbsp;&nbsp; (68768937)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% |  | &nbsp;&nbsp; $9699602598 |

---

Investment Abbreviations:

---

| | |
|:---|:---|
| CEP | -Credit Enhancement Provider |
| LOC | -Letter of Credit |
| OBFR | -Overnight Bank Funding Rate |
| RB | -Revenue Bonds |
| SOFR | -Secured Overnight Financing Rate |
| VRD | -Variable Rate Demand |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**6**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

Notes to Schedule of Investments:

<sup>(a)</sup> Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.

<sup>(b)</sup> Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2025.

<sup>(c)</sup> Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at August 31, 2025 was $3,581,610,147, which represented 36.93% of the Fund's Net Assets. 

<sup>(d)</sup> The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: Canada: 17.6%; France: 15.8%; Japan: 9.0%; United Kingdom: 8.0%; Netherlands: 6.3%; other countries less than 5% each: 11.8%. 

<sup>(e)</sup> Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on August 31, 2025. 

<sup>(f)</sup> Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

<sup>(g)</sup> Principal amount equals value at period end. See Note 1J.

<sup>(h)</sup> Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

<sup>(i)</sup> The Fund may demand payment of the term repurchase agreement upon one to seven business days' notice depending on the timing of the demand.

<sup>(j)</sup> Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date. 

<sup>(k)</sup> Also represents cost for federal income tax purposes.

<sup>(l)</sup> Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer's obligations but may be called upon to satisfy the issuer's obligations. No concentration of any single entity was greater than 5% each. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**7**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments**

*August 31, 2025*

**Invesco Premier U.S. Government Money Portfolio**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **U.S. Treasury Securities-25.27%** | **U.S. Treasury Securities-25.27%** | **U.S. Treasury Securities-25.27%** | **U.S. Treasury Securities-25.27%** | **U.S. Treasury Securities-25.27%** | **U.S. Treasury Securities-25.27%** |
| **U.S. Treasury Bills-23.83%**<sup>(a)</sup> | **U.S. Treasury Bills-23.83%**<sup>(a)</sup> | **U.S. Treasury Bills-23.83%**<sup>(a)</sup> | **U.S. Treasury Bills-23.83%**<sup>(a)</sup> | **U.S. Treasury Bills-23.83%**<sup>(a)</sup> | **U.S. Treasury Bills-23.83%**<sup>(a)</sup> |
| U.S. Treasury Bills | 4.31% | 09/09/2025 |  | $25000 | &nbsp;&nbsp; $24976111 |
| U.S. Treasury Bills | 4.18% | 09/11/2025 |  | 500000 | &nbsp;&nbsp; 499431944 |
| U.S. Treasury Bills | 4.19% | 09/18/2025 |  | 150000 | &nbsp;&nbsp; 149709583 |
| U.S. Treasury Bills | 4.13%-4.21% | 10/02/2025 |  | 160000 | &nbsp;&nbsp; 159449061 |
| U.S. Treasury Bills | 4.19% | 10/09/2025 |  | 240000 | &nbsp;&nbsp; 238992683 |
| U.S. Treasury Bills | 4.19% | 10/14/2025 |  | 150000 | &nbsp;&nbsp; 149266575 |
| U.S. Treasury Bills | 4.15% | 10/16/2025 |  | 175000 | &nbsp;&nbsp; 174111875 |
| U.S. Treasury Bills | 4.22% | 10/21/2025 |  | 500000 | &nbsp;&nbsp; 497086545 |
| U.S. Treasury Bills | 4.28% | 10/30/2025 |  | 45000 | &nbsp;&nbsp; 44697625 |
| U.S. Treasury Bills | 4.17% | 11/06/2025 |  | 250000 | &nbsp;&nbsp; 248107083 |
| U.S. Treasury Bills | 4.21% | 11/12/2025 |  | 500000 | &nbsp;&nbsp; 495840000 |
| U.S. Treasury Bills | 4.17%-4.19% | 11/13/2025 |  | 175000 | &nbsp;&nbsp; 173531712 |
| U.S. Treasury Bills | 4.38% | 11/28/2025 |  | 200000 | &nbsp;&nbsp; 197951556 |
| U.S. Treasury Bills | 4.17% | 12/02/2025 |  | 300000 | &nbsp;&nbsp; 296845470 |
| U.S. Treasury Bills | 4.15% | 12/09/2025 |  | 150000 | &nbsp;&nbsp; 148312731 |
| U.S. Treasury Bills | 4.05%-4.06% | 02/05/2026 |  | 990000 | &nbsp;&nbsp; 972821867 |
| U.S. Treasury Bills | 4.00%-4.05% | 02/12/2026 |  | 400000 | &nbsp;&nbsp; 392808999 |
| U.S. Treasury Bills | 4.03% | 02/19/2026 |  | 50000 | &nbsp;&nbsp; 49063062 |
| U.S. Treasury Bills | 4.11%-4.12% | 03/19/2026 |  | 150000 | &nbsp;&nbsp; 146723410 |
| U.S. Treasury Bills | 4.07%-4.12% | 07/09/2026 |  | 500000 | &nbsp;&nbsp; 483009897 |
| U.S. Treasury Bills | 3.91% | 08/06/2026 |  | 100000 | &nbsp;&nbsp; 96453683 |
|  |  |  |  |  | &nbsp;&nbsp; 5639191472 |
| **U.S. Treasury Floating Rate Notes-0.91%** | **U.S. Treasury Floating Rate Notes-0.91%** | **U.S. Treasury Floating Rate Notes-0.91%** | **U.S. Treasury Floating Rate Notes-0.91%** | **U.S. Treasury Floating Rate Notes-0.91%** | **U.S. Treasury Floating Rate Notes-0.91%** |
| U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate <br> + 0.25%)<sup>(b)</sup> <br>| 4.39% | 01/31/2026 |  | 100000 | &nbsp;&nbsp; 100016526 |
| U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate <br> + 0.16%)<sup>(b)</sup> <br>| 4.30% | 04/30/2027 |  | 115000 | &nbsp;&nbsp; 115026675 |
|  |  |  |  |  | &nbsp;&nbsp; 215043201 |
| **U.S. Treasury Notes-0.53%** | **U.S. Treasury Notes-0.53%** | **U.S. Treasury Notes-0.53%** | **U.S. Treasury Notes-0.53%** | **U.S. Treasury Notes-0.53%** | **U.S. Treasury Notes-0.53%** |
| U.S. Treasury Notes | 4.63% | 06/30/2026 |  | 125000 | &nbsp;&nbsp; 125700440 |
| Total U.S. Treasury Securities (Cost $5,979,935,113) | Total U.S. Treasury Securities (Cost $5,979,935,113) | Total U.S. Treasury Securities (Cost $5,979,935,113) | Total U.S. Treasury Securities (Cost $5,979,935,113) |  | &nbsp;&nbsp; 5979935113 |
| **U.S. Government Sponsored Agency Securities-14.26%** | **U.S. Government Sponsored Agency Securities-14.26%** | **U.S. Government Sponsored Agency Securities-14.26%** | **U.S. Government Sponsored Agency Securities-14.26%** | **U.S. Government Sponsored Agency Securities-14.26%** | **U.S. Government Sponsored Agency Securities-14.26%** |
| **Federal Farm Credit Bank (FFCB)-11.60%** | **Federal Farm Credit Bank (FFCB)-11.60%** | **Federal Farm Credit Bank (FFCB)-11.60%** | **Federal Farm Credit Bank (FFCB)-11.60%** | **Federal Farm Credit Bank (FFCB)-11.60%** | **Federal Farm Credit Bank (FFCB)-11.60%** |
| Federal Farm Credit Bank (SOFR + 0.16%)<sup>(b)</sup> <br>| 4.50% | 09/15/2025 |  | 30000 | &nbsp;&nbsp; 30000893 |
| Federal Farm Credit Bank (SOFR + 0.16%)<sup>(b)</sup> <br>| 4.50% | 11/28/2025 |  | 30000 | &nbsp;&nbsp; 30000000 |
| Federal Farm Credit Bank (SOFR + 0.16%)<sup>(b)</sup> <br>| 4.50% | 12/01/2025 |  | 15000 | &nbsp;&nbsp; 15000000 |
| Federal Farm Credit Bank (SOFR + 0.08%)<sup>(b)</sup> <br>| 4.42% | 12/12/2025 |  | 30000 | &nbsp;&nbsp; 30000000 |
| Federal Farm Credit Bank (SOFR + 0.15%)<sup>(b)</sup> <br>| 4.49% | 12/15/2025 |  | 20000 | &nbsp;&nbsp; 20000000 |
| Federal Farm Credit Bank (SOFR + 0.15%)<sup>(b)</sup> <br>| 4.49% | 12/29/2025 |  | 45000 | &nbsp;&nbsp; 45000000 |
| Federal Farm Credit Bank (1 mo. EFFR + 0.06%)<sup>(b)</sup> <br>| 4.39% | 01/16/2026 |  | 30000 | &nbsp;&nbsp; 30000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 01/30/2026 |  | 10000 | &nbsp;&nbsp; 10000000 |
| Federal Farm Credit Bank (SOFR + 0.09%)<sup>(b)</sup> <br>| 4.43% | 02/02/2026 |  | 40000 | &nbsp;&nbsp; 40000000 |
| Federal Farm Credit Bank (SOFR + 0.12%)<sup>(b)</sup> <br>| 4.46% | 03/12/2026 |  | 43000 | &nbsp;&nbsp; 43000000 |
| Federal Farm Credit Bank (SOFR + 0.11%)<sup>(b)</sup> <br>| 4.45% | 03/18/2026 |  | 49000 | &nbsp;&nbsp; 49000000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**8**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier U.S. Government Money Portfolio—(continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Federal Farm Credit Bank (FFCB)-(continued)** | **Federal Farm Credit Bank (FFCB)-(continued)** | **Federal Farm Credit Bank (FFCB)-(continued)** | **Federal Farm Credit Bank (FFCB)-(continued)** | **Federal Farm Credit Bank (FFCB)-(continued)** |
| Federal Farm Credit Bank (SOFR + 0.02%)<sup>(b)</sup> <br>| 4.36% | 03/26/2026 | $35000 | &nbsp;&nbsp; $35000000 |
| Federal Farm Credit Bank (SOFR + 0.11%)<sup>(b)</sup> <br>| 4.45% | 03/26/2026 | 90000 | &nbsp;&nbsp; 90000000 |
| Federal Farm Credit Bank (1 mo. EFFR + 0.10%)<sup>(b)</sup> <br>| 4.43% | 04/01/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Federal Farm Credit Bank (SOFR + 0.11%)<sup>(b)</sup> <br>| 4.45% | 04/09/2026 | 30000 | &nbsp;&nbsp; 30000000 |
| Federal Farm Credit Bank (SOFR + 0.10%)<sup>(b)</sup> <br>| 4.44% | 06/03/2026 | 52000 | &nbsp;&nbsp; 52000000 |
| Federal Farm Credit Bank (SOFR + 0.10%)<sup>(b)</sup> <br>| 4.44% | 06/18/2026 | 10000 | &nbsp;&nbsp; 10000000 |
| Federal Farm Credit Bank (SOFR + 0.10%)<sup>(b)</sup> <br>| 4.44% | 07/01/2026 | 70000 | &nbsp;&nbsp; 70000000 |
| Federal Farm Credit Bank (SOFR + 0.12%)<sup>(b)</sup> <br>| 4.46% | 07/23/2026 | 10000 | &nbsp;&nbsp; 10000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 08/26/2026 | 10000 | &nbsp;&nbsp; 10000000 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(b)</sup> <br>| 4.47% | 08/28/2026 | 70000 | &nbsp;&nbsp; 70000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 09/04/2026 | 74000 | &nbsp;&nbsp; 74000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 09/09/2026 | 214000 | &nbsp;&nbsp; 214026486 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 09/25/2026 | 215000 | &nbsp;&nbsp; 215000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 10/01/2026 | 75000 | &nbsp;&nbsp; 75000000 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(b)</sup> <br>| 4.47% | 10/06/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 10/15/2026 | 61000 | &nbsp;&nbsp; 61000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 11/23/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 12/02/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| Federal Farm Credit Bank (SOFR + 0.07%)<sup>(b)</sup> <br>| 4.41% | 12/07/2026 | 25000 | &nbsp;&nbsp; 25000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 12/09/2026 | 65000 | &nbsp;&nbsp; 65000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 12/18/2026 | 124000 | &nbsp;&nbsp; 124000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 12/30/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Federal Farm Credit Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 01/14/2027 | 14000 | &nbsp;&nbsp; 14000000 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(b)</sup> <br>| 4.47% | 02/03/2027 | 25000 | &nbsp;&nbsp; 25000000 |
| Federal Farm Credit Bank (SOFR + 0.08%)<sup>(b)</sup> <br>| 4.42% | 03/11/2027 | 35000 | &nbsp;&nbsp; 35000000 |
| Federal Farm Credit Bank (SOFR + 0.07%)<sup>(b)</sup> <br>| 4.41% | 03/24/2027 | 80000 | &nbsp;&nbsp; 80000000 |
| Federal Farm Credit Bank (SOFR + 0.07%)<sup>(b)</sup> <br>| 4.41% | 03/26/2027 | 50000 | &nbsp;&nbsp; 50000000 |
| Federal Farm Credit Bank (SOFR + 0.08%)<sup>(b)</sup> <br>| 4.42% | 04/02/2027 | 65000 | &nbsp;&nbsp; 65000000 |
| Federal Farm Credit Bank (SOFR + 0.08%)<sup>(b)</sup> <br>| 4.42% | 04/09/2027 | 50000 | &nbsp;&nbsp; 50000000 |
| Federal Farm Credit Bank (SOFR + 0.11%)<sup>(b)</sup> <br>| 4.45% | 05/13/2027 | 70000 | &nbsp;&nbsp; 70000000 |
| Federal Farm Credit Bank (SOFR + 0.11%)<sup>(b)</sup> <br>| 4.45% | 05/14/2027 | 6000 | &nbsp;&nbsp; 6000000 |
| Federal Farm Credit Bank (SOFR + 0.10%)<sup>(b)</sup> <br>| 4.44% | 06/29/2027 | 20000 | &nbsp;&nbsp; 20000000 |
| Federal Farm Credit Bank (SOFR + 0.11%)<sup>(b)</sup> <br>| 4.45% | 07/21/2027 | 75000 | &nbsp;&nbsp; 75000000 |
| Federal Farm Credit Bank (SOFR + 0.12%)<sup>(b)</sup> <br>| 4.46% | 07/27/2027 | 35000 | &nbsp;&nbsp; 35000000 |
| Federal Farm Credit Bank (SOFR + 0.12%)<sup>(b)</sup> <br>| 4.46% | 07/30/2027 | 200000 | &nbsp;&nbsp; 200000000 |
| Federal Farm Credit Bank (SOFR + 0.13%)<sup>(b)</sup> <br>| 4.47% | 09/02/2027 | 97000 | &nbsp;&nbsp; 97000000 |
|  |  |  |  | &nbsp;&nbsp; 2744027379 |
| **Federal Home Loan Bank (FHLB)-2.60%** | **Federal Home Loan Bank (FHLB)-2.60%** | **Federal Home Loan Bank (FHLB)-2.60%** | **Federal Home Loan Bank (FHLB)-2.60%** | **Federal Home Loan Bank (FHLB)-2.60%** |
| Federal Home Loan Bank (SOFR + 0.15%)<sup>(b)</sup> <br>| 4.49% | 12/08/2025 | 50000 | &nbsp;&nbsp; 50000000 |
| Federal Home Loan Bank (SOFR + 0.15%)<sup>(b)</sup> <br>| 4.49% | 12/11/2025 | 15000 | &nbsp;&nbsp; 15000000 |
| Federal Home Loan Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.34% | 01/12/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| Federal Home Loan Bank<sup>(a)</sup> <br>| 4.03% | 02/02/2026 | 38000 | &nbsp;&nbsp; 37357905 |
| Federal Home Loan Bank<sup>(a)</sup> <br>| 4.03% | 02/05/2026 | 10000 | &nbsp;&nbsp; 9827736 |
| Federal Home Loan Bank<sup>(a)</sup> <br>| 4.00% | 03/06/2026 | 110000 | &nbsp;&nbsp; 107777817 |
| Federal Home Loan Bank (SOFR + 0.10%)<sup>(b)</sup> <br>| 4.44% | 05/13/2026 | 100000 | &nbsp;&nbsp; 100000000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**9**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier U.S. Government Money Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Federal Home Loan Bank (FHLB)-(continued)** | **Federal Home Loan Bank (FHLB)-(continued)** | **Federal Home Loan Bank (FHLB)-(continued)** | **Federal Home Loan Bank (FHLB)-(continued)** | **Federal Home Loan Bank (FHLB)-(continued)** | **Federal Home Loan Bank (FHLB)-(continued)** |
| Federal Home Loan Bank (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 09/24/2026 |  | $20000 | &nbsp;&nbsp; $20000000 |
| Federal Home Loan Bank (SOFR + 0.08%)<sup>(b)</sup> <br>| 4.42% | 04/08/2027 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Federal Home Loan Bank (SOFR + 0.11%)<sup>(b)</sup> <br>| 4.45% | 07/19/2027 |  | 75000 | &nbsp;&nbsp; 75000000 |
|  |  |  |  |  | &nbsp;&nbsp; 614963458 |
| **U.S. International Development Finance Corp. (DFC)-0.06%**<sup>(c)</sup> | **U.S. International Development Finance Corp. (DFC)-0.06%**<sup>(c)</sup> | **U.S. International Development Finance Corp. (DFC)-0.06%**<sup>(c)</sup> | **U.S. International Development Finance Corp. (DFC)-0.06%**<sup>(c)</sup> | **U.S. International Development Finance Corp. (DFC)-0.06%**<sup>(c)</sup> | **U.S. International Development Finance Corp. (DFC)-0.06%**<sup>(c)</sup> |
| U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill <br> Rate)<br>| 4.50% | 09/15/2025 |  | 158 | &nbsp;&nbsp; 157895 |
| U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill <br> Rate)<br>| 4.55% | 11/15/2025 |  | 421 | &nbsp;&nbsp; 421052 |
| U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill <br> Rate)<br>| 4.50% | 09/15/2026 |  | 1250 | &nbsp;&nbsp; 1250000 |
| U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill <br> Rate)<br>| 4.56% | 09/15/2026 |  | 1042 | &nbsp;&nbsp; 1041667 |
| U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill <br> Rate)<br>| 4.50% | 12/15/2026 |  | 900 | &nbsp;&nbsp; 900000 |
| U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill <br> Rate)<br>| 4.50% | 06/20/2027 |  | 2000 | &nbsp;&nbsp; 1999996 |
| U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill <br> Rate)<br>| 4.50% | 06/20/2027 |  | 1333 | &nbsp;&nbsp; 1333331 |
| U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill <br> Rate)<br>| 4.50% | 06/20/2028 |  | 5538 | &nbsp;&nbsp; 5538461 |
| U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill <br> Rate)<br>| 4.50% | 10/15/2030 |  | 2917 | &nbsp;&nbsp; 2916667 |
|  |  |  |  |  | &nbsp;&nbsp; 15559069 |
| Total U.S. Government Sponsored Agency Securities (Cost $3,374,549,906) | Total U.S. Government Sponsored Agency Securities (Cost $3,374,549,906) | Total U.S. Government Sponsored Agency Securities (Cost $3,374,549,906) | Total U.S. Government Sponsored Agency Securities (Cost $3,374,549,906) |  | &nbsp;&nbsp; 3374549906 |
| **U.S. Government Sponsored Agency Mortgage-Backed Securities-4.21%** | **U.S. Government Sponsored Agency Mortgage-Backed Securities-4.21%** | **U.S. Government Sponsored Agency Mortgage-Backed Securities-4.21%** | **U.S. Government Sponsored Agency Mortgage-Backed Securities-4.21%** | **U.S. Government Sponsored Agency Mortgage-Backed Securities-4.21%** | **U.S. Government Sponsored Agency Mortgage-Backed Securities-4.21%** |
| **Federal Home Loan Mortgage Corp. (FHLMC)-2.50%** | **Federal Home Loan Mortgage Corp. (FHLMC)-2.50%** | **Federal Home Loan Mortgage Corp. (FHLMC)-2.50%** | **Federal Home Loan Mortgage Corp. (FHLMC)-2.50%** | **Federal Home Loan Mortgage Corp. (FHLMC)-2.50%** | **Federal Home Loan Mortgage Corp. (FHLMC)-2.50%** |
| Federal Home Loan Mortgage Corp. (SOFR + 0.10%)<sup>(b)</sup> <br>| 4.44% | 02/09/2026 |  | 147000 | &nbsp;&nbsp; 147000000 |
| Federal Home Loan Mortgage Corp. (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 09/04/2026 |  | 105000 | &nbsp;&nbsp; 105000000 |
| Federal Home Loan Mortgage Corp. (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 10/16/2026 |  | 40000 | &nbsp;&nbsp; 40000000 |
| Federal Home Loan Mortgage Corp. (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 10/29/2026 |  | 25000 | &nbsp;&nbsp; 25000000 |
| Federal Home Loan Mortgage Corp. (SOFR + 0.13%)<sup>(b)</sup> <br>| 4.47% | 04/23/2027 |  | 125000 | &nbsp;&nbsp; 125000000 |
| Federal Home Loan Mortgage Corp. (SOFR + 0.10%)<sup>(b)</sup> <br>| 4.44% | 06/16/2027 |  | 100000 | &nbsp;&nbsp; 99974988 |
| Federal Home Loan Mortgage Corp. (SOFR + 0.12%)<sup>(b)</sup> <br>| 4.46% | 08/11/2027 |  | 50000 | &nbsp;&nbsp; 50000000 |
|  |  |  |  |  | &nbsp;&nbsp; 591974988 |
| **Federal National Mortgage Association (FNMA)-1.71%** | **Federal National Mortgage Association (FNMA)-1.71%** | **Federal National Mortgage Association (FNMA)-1.71%** | **Federal National Mortgage Association (FNMA)-1.71%** | **Federal National Mortgage Association (FNMA)-1.71%** | **Federal National Mortgage Association (FNMA)-1.71%** |
| Federal National Mortgage Association (SOFR + 0.10%)<sup>(b)</sup> <br>| 4.44% | 06/18/2026 |  | 38500 | &nbsp;&nbsp; 38500000 |
| Federal National Mortgage Association (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 08/21/2026 |  | 85000 | &nbsp;&nbsp; 85000000 |
| Federal National Mortgage Association (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 09/11/2026 |  | 70000 | &nbsp;&nbsp; 70000000 |
| Federal National Mortgage Association (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 11/20/2026 |  | 35000 | &nbsp;&nbsp; 35000000 |
| Federal National Mortgage Association (SOFR + 0.14%)<sup>(b)</sup> <br>| 4.48% | 12/11/2026 |  | 175000 | &nbsp;&nbsp; 175000000 |
|  |  |  |  |  | &nbsp;&nbsp; 403500000 |
| Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $995,474,988) | Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $995,474,988) | Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $995,474,988) | Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $995,474,988) |  | &nbsp;&nbsp; 995474988 |
| TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-43.74% <br>(Cost $10,349,960,007) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-43.74% <br>(Cost $10,349,960,007) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-43.74% <br>(Cost $10,349,960,007) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-43.74% <br>(Cost $10,349,960,007) |  | &nbsp;&nbsp; 10349960007 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**10**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier U.S. Government Money Portfolio—(continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Repurchase**<br> **Amount** | **Value** |
| **Repurchase Agreements-57.95%**<sup>(d)</sup>  | **Repurchase Agreements-57.95%**<sup>(d)</sup>  | **Repurchase Agreements-57.95%**<sup>(d)</sup>  | **Repurchase Agreements-57.95%**<sup>(d)</sup>  | **Repurchase Agreements-57.95%**<sup>(d)</sup>  |
| Bank of Nova Scotia, joint agreement dated 08/29/2025, aggregate maturing <br> value of $1,200,578,667 (collateralized by agency mortgage-backed <br> securities and U.S. Treasury obligations valued at $1,224,000,051; 0.38% - <br> 6.50%; 09/30/2025 - 07/01/2055)<br>| 4.34% | 09/02/2025 | $600289333 | &nbsp;&nbsp; $600000000 |
| BMO Capital Markets Corp., joint agreement dated 08/29/2025, aggregate <br> maturing value of $1,500,723,333 (collateralized by agency mortgage-<br> backed securities valued at $1,530,000,000; 0.13% - 6.50%; 02/15/2026 <br> - 08/20/2065)<br>| 4.34% | 09/02/2025 | 500241111 | &nbsp;&nbsp; 500000000 |
| BMO Capital Markets Corp., joint term agreement dated 08/29/2025, aggregate <br> maturing value of $1,506,387,500 (collateralized by agency mortgage-<br> backed securities valued at $1,530,000,006; 0.13% - 5.85%; 05/20/2031 <br> - 11/20/2072)<sup>(e)</sup> <br>| 4.38% | 10/03/2025 | 281192333 | &nbsp;&nbsp; 280000000 |
| BNP Paribas Securities Corp., joint term agreement dated 02/10/2025, <br> aggregate maturing value of $1,400,687,555 (collateralized by U.S. Treasury <br> obligations valued at $1,428,000,181; 0.00% - 4.88%; 10/14/2025 - <br> 02/15/2054)<sup>(e)(f)</sup> <br>| 4.42% | 09/02/2025 | 200098222 | &nbsp;&nbsp; 200000000 |
| BNP Paribas Securities Corp., joint term agreement dated 07/10/2025, <br> aggregate maturing value of $2,501,233,333 (collateralized by agency <br> mortgage-backed securities, U.S. government sponsored agency obligations <br> and U.S. Treasury obligations valued at $2,550,000,006; 0.00% - 8.00%; <br> 09/04/2025 - 04/20/2065)<sup>(e)(f)</sup> <br>| 4.44% | 09/02/2025 | 400197333 | &nbsp;&nbsp; 400000000 |
| BNP Paribas Securities Corp., joint term agreement dated 07/28/2025, <br> aggregate maturing value of $2,000,984,445 (collateralized by agency <br> mortgage-backed securities and U.S. Treasury obligations valued at <br> $2,040,000,000; 0.00% - 8.00%; 10/25/2025 - 04/20/2065)<sup>(e)(f)</sup> <br>| 4.43% | 09/02/2025 | 600295333 | &nbsp;&nbsp; 600000000 |
| BNP Paribas Securities Corp., joint term agreement dated 08/20/2025, <br> aggregate maturing value of $4,143,991,111 (collateralized by U.S. Treasury <br> obligations valued at $4,080,000,237; 0.13% - 4.63%; 05/15/2026 - <br> 08/15/2054)<sup>(e)</sup> <br>| 3.88% | 07/20/2026 | 621598667 | &nbsp;&nbsp; 600000000 |
| BofA Securities, Inc., joint term agreement dated 04/22/2025, aggregate <br> maturing value of $2,000,980,000 (collateralized by agency mortgage-<br> backed securities valued at $2,040,000,000; 1.00% - 8.35%; 10/15/2033 <br> - 08/20/2075)<sup>(e)(f)</sup> <br>| 4.41% | 09/02/2025 | 350171500 | &nbsp;&nbsp; 350000000 |
| BofA Securities, Inc., joint term agreement dated 04/23/2025, aggregate <br> maturing value of $1,000,490,000 (collateralized by agency mortgage-<br> backed securities valued at $1,020,000,000; 0.13% - 8.10%; 06/25/2028 <br> - 07/20/2075)<sup>(e)(f)</sup> <br>| 4.41% | 09/02/2025 | 175085750 | &nbsp;&nbsp; 175000000 |
| BofA Securities, Inc., joint term agreement dated 07/28/2025, aggregate <br> maturing value of $1,750,863,333 (collateralized by U.S. Treasury <br> obligations valued at $1,785,000,406; 0.38% - 5.00%; 08/31/2025 - <br> 05/15/2053)<sup>(e)(f)</sup> <br>| 4.44% | 09/02/2025 | 240118400 | &nbsp;&nbsp; 240000000 |
| BofA Securities, Inc., joint term agreement dated 07/29/2025, aggregate <br> maturing value of $1,000,495,556 (collateralized by agency mortgage-<br> backed securities valued at $1,020,000,000; 2.00% - 7.50%; 05/15/2032 <br> - 01/20/2074)<sup>(e)(f)</sup> <br>| 4.46% | 09/02/2025 | 200099111 | &nbsp;&nbsp; 200000000 |
| Citigroup Global Markets, Inc., joint term agreement dated 07/31/2025, <br> aggregate maturing value of $252,872,222 (collateralized by agency <br> mortgage-backed securities valued at $255,001,008; 4.50% - 8.00%; <br> 06/01/2054 - 01/15/2060)<br>| 4.40% | 11/03/2025 | 101148889 | &nbsp;&nbsp; 100000000 |
| Citigroup Global Markets, Inc., joint term agreement dated 08/27/2025, <br> aggregate maturing value of $500,424,861 (collateralized by agency <br> mortgage-backed securities valued at $510,000,000; 0.13% - 7.00%; <br> 06/25/2033 - 11/16/2066)<sup>(e)</sup> <br>| 4.37% | 09/03/2025 | 250212431 | &nbsp;&nbsp; 250000000 |
| Credit Agricole Corporate & Investment Bank, joint agreement dated <br> 08/29/2025, aggregate maturing value of $1,500,721,667 (collateralized <br> by U.S. Treasury obligations valued at $1,530,000,060; 1.88% - 4.75%; <br> 02/15/2042 - 08/15/2053)<br>| 4.33% | 09/02/2025 | 300144333 | &nbsp;&nbsp; 300000000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**11**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier U.S. Government Money Portfolio—(continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Repurchase**<br> **Amount** | **Value** |
| Fixed Income Clearing Corp. - Bank of New York Mellon (The), joint agreement <br> dated 08/29/2025, aggregate maturing value of $5,502,646,111 <br> (collateralized by U.S. Treasury obligations valued at $5,610,000,238; <br> 0.13% - 4.50%; 03/31/2027 - 02/15/2054)<br>| 4.33% | 09/02/2025 | $1600769778 | &nbsp;&nbsp; $1600000000 |
| Fixed Income Clearing Corp. - BNP Paribas Securities Corp., joint agreement dated <br> 08/29/2025, aggregate maturing value of $5,502,646,111 (collateralized <br> by U.S. Treasury obligations valued at $5,610,000,055; 0.00% - 6.63%; <br> 09/04/2025 - 08/15/2055)<br>| 4.33% | 09/02/2025 | 1150553278 | &nbsp;&nbsp; 1150000000 |
| Fixed Income Clearing Corp. - Wells Fargo Bank, N.A., joint agreement dated <br> 08/29/2025, aggregate maturing value of $4,502,165,000 (collateralized <br> by U.S. Treasury obligations valued at $4,590,000,183; 0.00% - 4.63%; <br> 10/21/2025 - 05/15/2053)<br>| 4.33% | 09/02/2025 | 400192444 | &nbsp;&nbsp; 400000000 |
| Fixed Income Clearing Corp. - Wells Fargo Bank, N.A., joint term agreement dated <br> 08/26/2025, aggregate maturing value of $720,085,999 (collateralized by <br> U.S. Treasury obligations valued at $734,400,126; 0.00% - 4.75%; <br> 10/21/2025 - 08/15/2052)<sup>(g)</sup> <br>| 4.30% | 11/07/2025 | 120014333 | &nbsp;&nbsp; 120000000 |
| Fixed Income Clearing Corp. - Wells Fargo Bank, N.A., joint term agreement dated <br> 08/29/2025, aggregate maturing value of $2,150,256,805 (collateralized <br> by U.S. Treasury obligations valued at $2,193,000,423; 0.00% - 4.75%; <br> 10/21/2025 - 08/15/2055)<sup>(g)</sup> <br>| 4.30% | 10/29/2025 | 313037386 | &nbsp;&nbsp; 313000000 |
| J.P. Morgan Securities LLC, joint open agreement dated 09/17/2024 <br> (collateralized by agency mortgage-backed securities and U.S. Treasury <br> obligations valued at $1,020,000,006; 0.00% - 7.50%; 12/25/2026 - <br> 05/20/2055)<sup>(h)</sup> <br>| 4.38% | 09/02/2025 | 65253464 | &nbsp;&nbsp; 65000000 |
| Metropolitan Life Insurance Co., joint term agreement dated 08/27/2025, <br> aggregate maturing value of $350,304,095 (collateralized by U.S. Treasury <br> obligations valued at $357,049,922; 0.00%; 02/15/2043 - 08/15/2046)<sup>(e)</sup> <br>| 4.38% | 09/03/2025 | 40035599 | &nbsp;&nbsp; 40001531 |
| Mitsubishi UFJ Trust & Banking Corp., joint term agreement dated 08/27/2025, <br> aggregate maturing value of $1,882,326,751 (collateralized by U.S. Treasury <br> obligations valued at $1,926,267,830; 1.13% - 4.38%; 01/31/2027 - <br> 11/15/2040)<sup>(e)</sup> <br>| 4.38% | 09/03/2025 | 132487739 | &nbsp;&nbsp; 132375000 |
| Natixis, joint agreement dated 08/29/2025, aggregate maturing value of <br> $1,000,482,222 (collateralized by agency mortgage-backed securities, U.S. <br> government sponsored agency obligations, U.S. Treasury obligations valued at <br> $1,020,000,037; 0.00% - 7.00%; 10/09/2025 - 05/15/2058)<br>| 4.34% | 09/02/2025 | 655315856 | &nbsp;&nbsp; 655000000 |
| Natixis, joint term agreement dated 08/29/2025, aggregate maturing value of <br> $750,634,375 (collateralized by agency mortgage-backed securities and <br> U.S. Treasury obligations valued at $765,000,000; 0.00% - 7.00%; <br> 10/09/2025 - 09/01/2055)<sup>(e)</sup> <br>| 4.35% | 09/05/2025 | 300253750 | &nbsp;&nbsp; 300000000 |
| RBC Dominion Securities Inc., joint term agreement dated 08/26/2025, <br> aggregate maturing value of $1,035,905,000 (collateralized by U.S. Treasury <br> obligations valued at $1,020,657,998; 0.00% - 4.75%; 09/04/2025 - <br> 08/15/2055)<sup>(e)</sup> <br>| 3.87% | 07/27/2026 | 160565275 | &nbsp;&nbsp; 155000000 |
| RBC Dominion Securities Inc., joint term agreement dated 08/26/2025, <br> aggregate maturing value of $1,038,725,556 (collateralized by U.S. Treasury <br> obligations valued at $1,020,651,187; 0.00% - 4.75%; 09/04/2025 - <br> 08/15/2055)<sup>(e)</sup> <br>| 3.83% | 08/26/2026 | 166196089 | &nbsp;&nbsp; 160000000 |
| RBC Dominion Securities Inc., joint term agreement dated 08/27/2025, <br> aggregate maturing value of $1,569,780,100 (collateralized by agency <br> mortgage-backed securities and U.S. Treasury obligations valued at <br> $1,547,152,184; 0.00% - 6.00%; 10/02/2025 - 08/15/2055)<sup>(e)</sup> <br>| 3.87% | 07/24/2026 | 232981875 | &nbsp;&nbsp; 225000000 |
| Royal Bank of Canada, joint term agreement dated 03/13/2025, aggregate <br> maturing value of $1,540,310,000 (collateralized by agency mortgage-<br> backed securities and U.S. Treasury obligations valued at $1,560,660,355; <br> 0.00% - 7.00%; 09/25/2025 - 08/15/2055)<sup>(e)</sup> <br>| 4.17% | 10/31/2025 | 201267173 | &nbsp;&nbsp; 196000000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**12**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier U.S. Government Money Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Repurchase**<br> **Amount** | &nbsp;&nbsp; **Repurchase**<br> **Amount** | **Value** |
| Royal Bank of Canada, joint term agreement dated 03/13/2025, aggregate <br> maturing value of $1,541,315,700 (collateralized by agency mortgage-<br> backed securities and U.S. Treasury obligations valued at $1,567,124,654; <br> 0.85% - 7.00%; 11/30/2026 - 01/07/2062)<sup>(e)</sup> <br>| 4.20% | 09/30/2025 |  | $200596200 | &nbsp;&nbsp; $196000000 |
| Societe Generale, joint term agreement dated 08/25/2025, aggregate maturing <br> value of $500,485,556 (collateralized by agency mortgage-backed securities <br> and U.S. Treasury obligations valued at $510,000,000; 2.00% - 7.00%; <br> 08/15/2041 - 09/01/2055)<sup>(e)</sup> <br>| 4.37% | 09/02/2025 |  | 210203933 | &nbsp;&nbsp; 210000000 |
| Societe Generale, joint term agreement dated 08/26/2025, aggregate maturing <br> value of $1,501,277,500 (collateralized by U.S. Treasury obligations valued <br> at $1,530,000,075; 2.88% - 4.50%; 03/15/2027 - 12/31/2031)<sup>(e)</sup> <br>| 4.38% | 09/02/2025 |  | 200170333 | &nbsp;&nbsp; 200000000 |
| Standard Chartered Bank, joint agreement dated 08/29/2025, aggregate <br> maturing value of $3,001,446,667 (collateralized by agency mortgage-<br> backed securities and U.S. Treasury obligations valued at $3,061,475,600; <br> 0.00% - 6.00%; 09/16/2025 - 09/01/2055)<br>| 4.34% | 09/02/2025 |  | 1000482222 | &nbsp;&nbsp; 1000000000 |
| Standard Chartered Bank, joint agreement dated 08/29/2025, aggregate <br> maturing value of $4,001,924,444 (collateralized by U.S. Treasury <br> obligations valued at $4,081,962,968; 0.00% - 4.88%; 10/02/2025 - <br> 02/15/2054)<br>| 4.33% | 09/02/2025 |  | 947714314 | &nbsp;&nbsp; 947258577 |
| TD Securities (USA) LLC, joint term agreement dated 08/27/2025, aggregate <br> maturing value of $480,407,867 (collateralized by agency mortgage-backed <br> securities valued at $489,600,001; 1.00% - 8.40%; 08/20/2040 - <br> 11/16/2065)<sup>(e)</sup> <br>| 4.37% | 09/03/2025 |  | 340288906 | &nbsp;&nbsp; 340000000 |
| Wells Fargo Securities, LLC, joint term agreement dated 06/13/2025, aggregate <br> maturing value of $1,718,864,806 (collateralized by agency mortgage-<br> backed securities valued at $1,734,000,001; 1.50% - 7.50%; 06/01/2026 <br> - 01/01/2059)<br>| 4.39% | 09/12/2025 |  | 404438778 | &nbsp;&nbsp; 400000000 |
| Wells Fargo Securities, LLC, joint term agreement dated 08/26/2025, aggregate <br> maturing value of $869,137,500 (collateralized by agency mortgage-backed <br> securities and U.S. government sponsored agency obligations valued at <br> $877,200,001; 0.00% - 8.00%; 09/08/2025 - 08/01/2055)<br>| 4.25% | 11/24/2025 |  | 111168750 | &nbsp;&nbsp; 110000000 |
| Total Repurchase Agreements (Cost $13,709,635,108) | Total Repurchase Agreements (Cost $13,709,635,108) | Total Repurchase Agreements (Cost $13,709,635,108) | Total Repurchase Agreements (Cost $13,709,635,108) |  | &nbsp;&nbsp; 13709635108 |
| TOTAL INVESTMENTS IN SECURITIES<sup>(i)</sup>-101.69% (Cost $24,059,595,115) | TOTAL INVESTMENTS IN SECURITIES<sup>(i)</sup>-101.69% (Cost $24,059,595,115) | TOTAL INVESTMENTS IN SECURITIES<sup>(i)</sup>-101.69% (Cost $24,059,595,115) | TOTAL INVESTMENTS IN SECURITIES<sup>(i)</sup>-101.69% (Cost $24,059,595,115) |  | &nbsp;&nbsp; 24059595115 |
| OTHER ASSETS LESS LIABILITIES-(1.69)% | OTHER ASSETS LESS LIABILITIES-(1.69)% | OTHER ASSETS LESS LIABILITIES-(1.69)% | OTHER ASSETS LESS LIABILITIES-(1.69)% |  | &nbsp;&nbsp; (400503101)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% |  | &nbsp;&nbsp; $23659092014 |

---

Investment Abbreviations:

EFFR -Effective Federal Funds Rate <br> SOFR -Secured Overnight Financing Rate <br> VRD -Variable Rate Demand

Notes to Schedule of Investments:

<sup>(a)</sup> Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.

<sup>(b)</sup> Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2025.

<sup>(c)</sup> Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on August 31, 2025. 

<sup>(d)</sup> Principal amount equals value at period end. See Note 1J.

<sup>(e)</sup> The Fund may demand payment of the term repurchase agreement upon one to seven business days' notice depending on the timing of the demand.

<sup>(f)</sup> Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

<sup>(g)</sup> Interest is paid periodically at specified time intervals. The Repurchase Amount includes one day of interest due at maturity. 

<sup>(h)</sup> Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date. 

<sup>(i)</sup> Also represents cost for federal income tax purposes.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**13**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Statement of Assets and Liabilities**

*August 31, 2025*

---

| | | |
|:---|:---|:---|
|  | **Invesco Premier** <br>**Portfolio**<br>| **Invesco Premier** <br>**U.S. Government** <br>**Money Portfolio**<br>|
| **Assets:** | **Assets:** | **Assets:** |
| Investments in unaffiliated securities, at value | &nbsp;&nbsp; $6245294006 | &nbsp;&nbsp; $10349960007 |
| Repurchase agreements, at value and cost | &nbsp;&nbsp; 3523077529 | &nbsp;&nbsp; 13709635108 |
| Cash | &nbsp;&nbsp; 261350 | &nbsp;&nbsp; 28446 |
| Receivable for: |  |  |
| Fund shares sold | &nbsp;&nbsp; 29883069 | &nbsp;&nbsp; 7193328 |
| Interest | &nbsp;&nbsp; 16933963 | &nbsp;&nbsp; 68400694 |
| Fund expenses absorbed | &nbsp;&nbsp; 568309 | &nbsp;&nbsp; 1395698 |
| Investment for trustee deferred compensation and retirement plans | &nbsp;&nbsp; 680307 | &nbsp;&nbsp; 160755 |
| Total assets | &nbsp;&nbsp; 9816698533 | &nbsp;&nbsp; 24136774036 |
| **Liabilities:** | **Liabilities:** | **Liabilities:** |
| Payable for: |  |  |
| Investments purchased | &nbsp;&nbsp; 98959250 | &nbsp;&nbsp; 435470000 |
| Fund shares reacquired | &nbsp;&nbsp; 12993947 | &nbsp;&nbsp; 4218030 |
| Dividends | &nbsp;&nbsp; 2429468 | &nbsp;&nbsp; 32848573 |
| Accrued fees to affiliates | &nbsp;&nbsp; 2032963 | &nbsp;&nbsp; 4984664 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 680307 | &nbsp;&nbsp; 160755 |
| Total liabilities | &nbsp;&nbsp; 117095935 | &nbsp;&nbsp; 477682022 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $9699602598 | &nbsp;&nbsp; $23659092014 |
| **Net assets consist of:** | **Net assets consist of:** | **Net assets consist of:** |
| Shares of beneficial interest | &nbsp;&nbsp; $9699475127 | &nbsp;&nbsp; $23658084425 |
| Distributable earnings (loss) | &nbsp;&nbsp; 127471 | &nbsp;&nbsp; 1007589 |
|  | &nbsp;&nbsp; $9699602598 | &nbsp;&nbsp; $23659092014 |
| **Net Assets:** | **Net Assets:** | **Net Assets:** |
| Institutional Class | &nbsp;&nbsp; $9414960740 | &nbsp;&nbsp; $22136303093 |
| Investor Class | &nbsp;&nbsp; $283867086 | &nbsp;&nbsp; $1522788921 |
| Personal Investment Class | &nbsp;&nbsp; $11835 | &nbsp;&nbsp; $- |
| Private Investment Class | &nbsp;&nbsp; $27694 | &nbsp;&nbsp; $- |
| Reserve Class | &nbsp;&nbsp; $11593 | &nbsp;&nbsp; $- |
| Resource Class | &nbsp;&nbsp; $723650 | &nbsp;&nbsp; $- |
| **Shares outstanding, no par value,** <br>**unlimited number of shares authorized:** | **Shares outstanding, no par value,** <br>**unlimited number of shares authorized:** | **Shares outstanding, no par value,** <br>**unlimited number of shares authorized:** |
| Institutional Class | &nbsp;&nbsp; 9414516475 | &nbsp;&nbsp; 22134268301 |
| Investor Class | &nbsp;&nbsp; 283856455 | &nbsp;&nbsp; 1522692701 |
| Personal Investment Class | &nbsp;&nbsp; 11834 | &nbsp;&nbsp; - |
| Private Investment Class | &nbsp;&nbsp; 27692 | &nbsp;&nbsp; - |
| Reserve Class | &nbsp;&nbsp; 11592 | &nbsp;&nbsp; - |
| Resource Class | &nbsp;&nbsp; 723615 | &nbsp;&nbsp; - |
| Net asset value, offering and redemption price per share for each class | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Cost of Investments | &nbsp;&nbsp; $9768371535 | &nbsp;&nbsp; $24059595115 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**14**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Statements of Operations**

*For the year ended August 31, 2025*

---

| | | |
|:---|:---|:---|
|  | **Invesco Premier** <br>**Portfolio**<br>| **Invesco Premier** <br>**U.S. Government** <br>**Money Portfolio**<br>|
| **Investment income:** |  |  |
| Interest | &nbsp;&nbsp; $407012230 | &nbsp;&nbsp; $986573029 |
| **Expenses:** |  |  |
| Advisory fees | &nbsp;&nbsp; 21719795 | &nbsp;&nbsp; 53940194 |
| Distribution fees: |  |  |
| Personal Investment Class | &nbsp;&nbsp; 71880 | &nbsp;&nbsp; - |
| Private Investment Class | &nbsp;&nbsp; 81 | &nbsp;&nbsp; - |
| Reserve Class | &nbsp;&nbsp; 99 | &nbsp;&nbsp; - |
| Resource Class | &nbsp;&nbsp; 1131 | &nbsp;&nbsp; - |
| Professional services fees | &nbsp;&nbsp; (2968)<br>| &nbsp;&nbsp; (8392)<br>|
| Total expenses | &nbsp;&nbsp; 21790018 | &nbsp;&nbsp; 53931802 |
| Less: Fees waived | &nbsp;&nbsp; (6081509)<br>| &nbsp;&nbsp; (15103171)<br>|
| Net expenses | &nbsp;&nbsp; 15708509 | &nbsp;&nbsp; 38828631 |
| Net investment income | &nbsp;&nbsp; 391303721 | &nbsp;&nbsp; 947744398 |
| Net realized gain from unaffiliated investment securities | &nbsp;&nbsp; 2356 | &nbsp;&nbsp; 676482 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $391306077 | &nbsp;&nbsp; $948420880 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**15**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Statements of Changes in Net Assets**

*For the years ended August 31, 2025 and 2024*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier U.S. Government** <br>**Money Portfolio** | **Invesco Premier U.S. Government** <br>**Money Portfolio** |
|  | **2025** | **2024** | **2025** | **2024** |
| **Operations:** | **Operations:** | **Operations:** | **Operations:** | **Operations:** |
| Net investment income | &nbsp;&nbsp; $391303721 | &nbsp;&nbsp; $346325123 | &nbsp;&nbsp; $947744398 | &nbsp;&nbsp; $1021343729 |
| Net realized gain | &nbsp;&nbsp; 2356 | &nbsp;&nbsp; 20533 | &nbsp;&nbsp; 676482 | &nbsp;&nbsp; 910087 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 391306077 | &nbsp;&nbsp; 346345656 | &nbsp;&nbsp; 948420880 | &nbsp;&nbsp; 1022253816 |
| **Distributions to shareholders from distributable earnings:** | **Distributions to shareholders from distributable earnings:** | **Distributions to shareholders from distributable earnings:** | **Distributions to shareholders from distributable earnings:** | **Distributions to shareholders from distributable earnings:** |
| Institutional Class | &nbsp;&nbsp; (381517915)<br>| &nbsp;&nbsp; (337282614)<br>| &nbsp;&nbsp; (918978369)<br>| &nbsp;&nbsp; (1000896255)<br>|
| Investor Class | &nbsp;&nbsp; (9233389)<br>| &nbsp;&nbsp; (8535442)<br>| &nbsp;&nbsp; (28766029)<br>| &nbsp;&nbsp; (20447474)<br>|
| Personal Investment Class | &nbsp;&nbsp; (520037)<br>| &nbsp;&nbsp; (469960)<br>| &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Private Investment Class | &nbsp;&nbsp; (1143)<br>| &nbsp;&nbsp; (1317)<br>| &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Reserve Class | &nbsp;&nbsp; (415)<br>| &nbsp;&nbsp; (494)<br>| &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Resource Class | &nbsp;&nbsp; (30822)<br>| &nbsp;&nbsp; (35296)<br>| &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Total distributions from distributable earnings | &nbsp;&nbsp; (391303721)<br>| &nbsp;&nbsp; (346325123)<br>| &nbsp;&nbsp; (947744398)<br>| &nbsp;&nbsp; (1021343729)<br>|
| **Share transactions-net:** | **Share transactions-net:** | **Share transactions-net:** | **Share transactions-net:** | **Share transactions-net:** |
| Institutional Class | &nbsp;&nbsp; 1849359762 | &nbsp;&nbsp; 2790848017 | &nbsp;&nbsp; 3247715592 | &nbsp;&nbsp; (71141053)<br>|
| Investor Class | &nbsp;&nbsp; 131397110 | &nbsp;&nbsp; (5997098)<br>| &nbsp;&nbsp; 1117830204 | &nbsp;&nbsp; 63142364 |
| Personal Investment Class | &nbsp;&nbsp; (13619385)<br>| &nbsp;&nbsp; 6526699 | &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Private Investment Class | &nbsp;&nbsp; 1256 | &nbsp;&nbsp; 1313 | &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Reserve Class | &nbsp;&nbsp; 458 | &nbsp;&nbsp; 494 | &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Resource Class | &nbsp;&nbsp; 33862 | &nbsp;&nbsp; 35168 | &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Net increase (decrease) in net assets resulting from share transactions | &nbsp;&nbsp; 1967173063 | &nbsp;&nbsp; 2791414593 | &nbsp;&nbsp; 4365545796 | &nbsp;&nbsp; (7998689)<br>|
| Net increase (decrease) in net assets | &nbsp;&nbsp; 1967175419 | &nbsp;&nbsp; 2791435126 | &nbsp;&nbsp; 4366222278 | &nbsp;&nbsp; (7088602)<br>|
| **Net assets:** | **Net assets:** | **Net assets:** | **Net assets:** | **Net assets:** |
| Beginning of year | &nbsp;&nbsp; 7732427179 | &nbsp;&nbsp; 4940992053 | &nbsp;&nbsp; 19292869736 | &nbsp;&nbsp; 19299958338 |
| End of year | &nbsp;&nbsp; $9699602598 | &nbsp;&nbsp; $7732427179 | &nbsp;&nbsp; $23659092014 | &nbsp;&nbsp; $19292869736 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**16**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Financial Highlights**

The following schedule presents financial highlights for a share of the Funds outstanding throughout the periods indicated.

**Institutional Class** 

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(realized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or expense** <br>**reimbursements**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or expense** <br>**reimbursements**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**to average** <br>**net assets**<br>|
| **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** |
| Year ended 08/31/25 | $1.00 | $0.05 | $0.00 | $0.05 | $(0.05)<br>| $1.00 | 4.62<br> %<br>| $9414961 | 0.18<br> %<br>| 0.25<br> %<br>| 4.50<br> %<br>|
| Year ended 08/31/24 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| 1.00 | 5.54 | 7565591 | 0.18 | 0.25 | 5.39 |
| Year ended 08/31/23 | 1.00 | 0.04 | (0.00)<br>| 0.04 | (0.04)<br>| 1.00 | 4.50 | 4774723 | 0.18 | 0.25 | 4.62 |
| Year ended 08/31/22 | 1.00 | 0.01 | (0.00)<br>| 0.01 | (0.01)<br>| 1.00 | 0.51 | 1742441 | 0.18 | 0.25 | 0.61 |
| Year ended 08/31/21 | 1.00 | 0.00 | 0.00 | 0.00 | (0.00)<br>| 1.00 | 0.07 | 1182455 | 0.18 | 0.25 | 0.07 |
| **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** | **Invesco Premier U.S. Government Money Portfolio** |
| Year ended 08/31/25 | 1.00 | 0.04 | 0.00 | 0.04 | (0.04)<br>| 1.00 | 4.50 | 22136303 | 0.18 | 0.25 | 4.39 |
| Year ended 08/31/24 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| 1.00 | 5.36 | 18887978 | 0.18 | 0.25 | 5.23 |
| Year ended 08/31/23 | 1.00 | 0.04 | 0.00 | 0.04 | (0.04)<br>| 1.00 | 4.38 | 18958232 | 0.18 | 0.25 | 4.42 |
| Year ended 08/31/22 | 1.00 | 0.00 | (0.00)<br>| 0.00 | (0.00)<br>| 1.00 | 0.45 | 9933723 | 0.14 | 0.25 | 0.59 |
| Year ended 08/31/21 | 1.00 | 0.00 | 0.00 | 0.00 | (0.00)<br>| 1.00 | 0.01 | 5381252 | 0.12 | 0.25 | 0.01 |

---

<sup>(a)</sup> Calculated using average shares outstanding. <br> <sup>(b)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**17**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Notes to Financial Statements**

*August 31, 2025*

**NOTE 1—Significant Accounting Policies**

AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series diversified management investment company. The Trust is organized as a Delaware statutory trust. The Funds covered in this report are Invesco Premier Portfolio and Invesco Premier U.S. Government Money Portfolio (collectively, the "Funds"). The assets, liabilities and operations of each portfolio are accounted for separately. Information presented in these financial statements pertains only to the Funds. Matters affecting each Fund or class will be voted on exclusively by the shareholders of such portfolio or class.

Invesco Premier Portfolio's investment objective is to provide current income consistent with preservation of capital and liquidity. Invesco Premier U.S. Government Money Portfolio's investment objective is a high level of current income consistent with the preservation of capital and the maintenance of liquidity.

Invesco Premier Portfolio currently consists of six classes of shares: Investor Class, Institutional Class, Private Investment Class, Personal Investment Class, Reserve Class and Resource Class. Invesco Premier U.S. Government Money Portfolio currently consists of two classes of shares: Investor Class and Institutional Class. Investor Class shares of the Funds are available only to certain investors. Each class of shares is sold at net asset value.

Each Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services — Investment Companies.*

Invesco Premier Portfolio, a "retail money market fund" as defined in Rule 2a-7 under the 1940 Act (the "Rule"), and Invesco Premier U.S. Government Money Portfolio, a "government money market fund" as defined in the Rule, seek to maintain a stable or constant NAV of $1.00 per share using an amortized cost method of valuation.

"Retail money market funds" are required to adopt policies and procedures reasonably designed to limit investments in the Fund to accounts beneficially owned by natural persons. "Government money market funds" are required to invest at least 99.5% of their total assets in cash, Government Securities (as defined in the 1940 Act), and/or repurchase agreements collateralized fully by cash or Government Securities.

Invesco Premier Portfolio may impose a fee upon the sale of shares. The Board of Trustees has elected not to subject Invesco Premier U.S. Government Money Portfolio to liquidity fee requirements at this time, as permitted by the Rule.

The following is a summary of the significant accounting policies followed by the Funds in the preparation of their financial statements.

**A.** **Security Valuations** — Each Fund's securities are recorded on the basis of amortized cost which approximates value as permitted by the Rule. This method values a security at its cost on the date of purchase and, thereafter, assumes a constant amortization to maturity of any premiums or accretion of any discounts.

Securities for which market quotations are not readily available are fair valued by Invesco Advisers, Inc. (the "Adviser" or "Invesco") in accordance with Board-approved policies and related Adviser procedures ("Valuation Procedures"). If a fair value price provided by a pricing service is unreliable in the Adviser's judgment, the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value.

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.

Each Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/ or liquidity of certain of each Fund's investments.

**B.** **Securities Transactions and Investment Income** — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on the accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.

The Funds may periodically participate in litigation related to each Fund's investments. As such, the Funds may receive proceeds from litigation settlements involving each Fund's investments. Any proceeds received are included in the Statements 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 gain (loss) from investment securities reported in the Statements of Operations and the Statements of Changes in Net Assets and the net realized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of each Fund's net asset value and, accordingly, they reduce each Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statements of Operations and the Statements of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Funds and the investment adviser.

The Funds allocate realized capital gains and losses to a class based on the relative net assets of each class. The Funds allocate income to a class based on the relative settled shares of each class.

**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, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, 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

**18**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

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.** **Distributions** - It is the policy of the Funds to declare dividends from net investment income, if any, daily and pay them monthly. Each Fund generally distributes net realized capital gain (including net short-term capital gain), if any, annually.

**E.** **Federal Income Taxes** — The Funds intend to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Funds' taxable earnings to shareholders. As such, the Funds will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Funds recognize the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed each Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.

Each Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, each Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

**F.** **Expenses** - Fees provided for under the Rule 12b-1 plan of a particular class of each Fund and which are directly attributable to that class are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative settled shares.

**G.** **Accounting Estimates** - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, each Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**H.** **Indemnifications** - Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Funds. Additionally, in the normal course of business, the Funds enter into contracts, including each Fund's servicing agreements, that contain a variety of indemnification clauses. Each Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against such Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**I.** **Segment Reporting** — In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), with the intent of improving reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole, thereby enabling better understanding of how an entity's segments impact overall performance. Each Fund represents a single operating segment. Subject to the oversight and, when applicable, approval of the Board of Trustees, the Adviser acts as the Funds' chief operating decision maker ("CODM"), assessing performance and making decisions about resource allocation within each Fund. The CODM monitors the operating results as a whole, and each Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Funds' financial statements. Adoption of the new standard impacted the Funds' financial statement note disclosures only and did not affect the Funds' financial position or the results of its operations.

**J.** **Repurchase Agreements -** The Funds may enter into repurchase agreements. Collateral on repurchase agreements, including each Fund's pro-rata interest in joint repurchase agreements, is taken into possession by such Funds upon entering into the repurchase agreement. Collateral consisting of U.S. Government Securities and U.S. Government Sponsored Agency Securities is marked to market daily to ensure its market value is typically at least 102% of the sales price of the repurchase agreement. Collateral consisting of non-government securities is marked to market daily to ensure its market value is typically at least 105% of the sales price of the repurchase agreement. The investments in some repurchase agreements, pursuant to procedures approved by the Board of Trustees, are through participation with other mutual funds, private accounts and certain non-registered investment companies managed by the investment advisor or its affiliates ("Joint repurchase agreements"). The principal amount of the repurchase agreement is equal to the value at period-end. If the seller of a repurchase agreement fails to repurchase the security in accordance with the terms of the agreement, the Funds might incur expenses in enforcing their rights, and could experience losses, including a decline in the value of the collateral and loss of income.

**K.** **Other Risks** - Obligations of U.S. Government agencies and authorities receive varying levels of support and may not be backed by the full faith and credit of the U.S. Government, which could affect a Fund's ability to recover should they default. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so.

The effect on performance from investing in securities issued or guaranteed by companies in the banking and financial services industries will depend to a greater extent on the overall condition of those industries. Financial services companies are highly dependent on the supply of short-term financing. The value of securities of issuers in the banking and financial services industry can be sensitive to changes in government regulation and interest rates and to economic downturns in the United States and abroad.

U.S. dollar-denominated securities carrying foreign credit exposure may be affected by unfavorable political, economic or governmental developments that could affect payments of principal and interest.

**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, each Fund accrues daily and pays monthly an advisory fee to the Adviser at an annual rate of 0.25% of such Fund's average daily net assets. Pursuant to the master investment advisory agreement, the Adviser bears all expenses incurred by each Fund in connection with its operations, except for (1) interest, taxes and extraordinary items such as litigation costs; (2) brokers' commissions, issue and transfer taxes, and other costs chargeable to each

**19**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

Fund in connection with securities transactions to which such Fund is a party or in connection with securities owned by such Fund; and (3) other expenditures which are capitalized in accordance with generally accepted accounting principles applicable to investment companies.

Under the terms of a master sub-advisory agreement between the Adviser to Invesco Premier Portfolio and each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Inc., Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and a separate sub-advisory agreement with Invesco Capital Management LLC (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Sub-Adviser(s).

The Adviser has contractually agreed, through at least December 31, 2025, to waive advisory fees equal to 0.07% of the average daily net assets of Invesco Premier Portfolio and Invesco Premier U.S. Government Money Portfolio.

For the year ended August 31, 2025, the Adviser waived advisory fees and/or reimbursed Fund expenses in the following amounts:

---

| | |
|:---|:---|
| Invesco Premier Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; $6081509 |
| Invesco Premier U.S. Government Money Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; 15103171 |

---

The Trust has entered into a master administrative services agreement with Invesco to provide accounting services to each Fund. The Trust has also entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") to provide transfer agency and shareholder services to each Fund. Invesco and IIS do not charge the Funds any fees under these agreements. Also, Invesco has entered into a sub-administration agreement whereby The Bank of New York Mellon ("BNY") serves as fund accountant and provides certain administrative services to the Funds. Pursuant to a custody agreement with the Trust on behalf of the Funds, BNY also serves as the Funds' custodian.

The Trust has entered into master distribution agreements with IDI to serve as the distributor for the Investor Class, Institutional Class, Personal Investment Class, Private Investment Class, Reserve Class and Resource Class shares. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to Invesco Premier Portfolio's Personal Investment Class, Private Investment Class, Reserve Class and Resource Class shares (collectively, the "Plans"). The Fund, pursuant to the Plans, pays IDI compensation at the annual rate of 0.55% of the Fund's average daily net assets of Personal Investment Class shares, 0.30% of the average daily net assets of Private Investment Class shares, 0.87% of the average daily net assets of Reserve Class shares and 0.16% of the average daily net assets of Resource Class shares. The fees are accrued daily and paid monthly. Of the Plan payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such class. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended August 31, 2025, expenses incurred under the plans are shown in the Statement of Operations as *Distribution fees*.

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

**NOTE 3—Additional Valuation Information**

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

Level 1 — Prices are determined using quoted prices in an active market for identical assets.

Level 2 — Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.

Level 3 — Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Adviser's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

As of August 31, 2025, all of the securities in each Fund were valued based on Level 2 inputs (see the Schedule of Investments for security categories). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

**NOTE 4—Trustees' and Officers' Fees and Benefits**

Remuneration is paid to certain Trustees and Officers of the Trust. Trustees have the option to defer their compensation. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested.

Certain current Trustees were eligible to participate in a retirement plan that provided for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Funds may have certain former Trustees that also participate in a retirement plan and receive benefits under such plan. Each Fund's allocable portion of the remuneration paid to the Trustees, including its allocable portion of the fees and benefits of the deferred compensation plan and retirement plan are paid by Invesco and not by the Trust.

**NOTE 5—Cash Balances**

The Funds are permitted to temporarily overdraft or leave balances in their accounts with BNY, the custodian bank. Such balances, if any at period-end, are shown in the Statements of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate BNY or the Funds for such activity, the Funds may either (1) pay to or receive from BNY compensation at a rate agreed upon by BNY and Invesco, not to exceed the

**20**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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contractually agreed upon rate; or (2) leave funds or overdraft funds as a compensating balance in the account so BNY or the Funds can be compensated for use of funds.

**NOTE 6—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | | |
|:---|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2025 and 2024:</u>** |
|  | **2025** | **2025** | **2024** |
|  | **Ordinary** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Long-Term** <br>**Capital Gains**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Ordinary** <br>**Income\***<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp; $391303721 | &nbsp;&nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp;&nbsp; $346325123 |
| Invesco Premier U.S. Government Money Portfolio | &nbsp;&nbsp; 947686252 | &nbsp;&nbsp;&nbsp;&nbsp; 58146 | &nbsp;&nbsp;&nbsp;&nbsp; 1021343729 |

---

\* Includes short-term capital gain distributions, if any.

---

| | | | |
|:---|:---|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Undistributed** <br>**Ordinary** <br>**Income**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Shares of** <br>**Beneficial** <br>**Interest**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Total** <br>**Net Assets**<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; $127471 | &nbsp;&nbsp;&nbsp;&nbsp; $9699475127 | &nbsp;&nbsp;&nbsp;&nbsp; $9699602598 |
| Invesco Premier U.S. Government Money Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; 1007589 | &nbsp;&nbsp;&nbsp;&nbsp; 23658084425 | &nbsp;&nbsp;&nbsp;&nbsp; 23659092014 |

---

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Funds to utilize. The ability to utilize capital loss carryforwards in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Funds did not have any capital loss carryforward as of August 31, 2025.

**NOTE 7—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of distributions, on August 31, 2025, amounts were reclassified between undistributed net investment income (loss), undistributed net realized gain (loss) and shares of beneficial interest. These reclassifications had no effect on the net assets or the distributable earnings of each Fund.

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Undistributed Net** <br>**Investment Income**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Undistributed Net** <br>**Realized Gain (Loss)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Shares of** <br>**Beneficial Interest**<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; $2356 | &nbsp;&nbsp;&nbsp;&nbsp; $(2356)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $- |
| Invesco Premier U.S. Government Money Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; 738685 | &nbsp;&nbsp;&nbsp;&nbsp; (901685)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 163000 |

---

**NOTE 8—Share Information**

**Invesco Premier Portfolio** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Years ended August 31,** | **Years ended August 31,** | **Years ended August 31,** | **Years ended August 31,** |
|  | **2025**<sup>(a)</sup>  | **2025**<sup>(a)</sup>  | **2024** | **2024** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; 11598875406 | &nbsp;&nbsp;&nbsp; $11598875406 | &nbsp;&nbsp;&nbsp; 9739077117 | &nbsp;&nbsp;&nbsp; $9739077117 |
| Investor Class | &nbsp;&nbsp;&nbsp; 521969267 | &nbsp;&nbsp;&nbsp; 521969267 | &nbsp;&nbsp;&nbsp; 336725771 | &nbsp;&nbsp;&nbsp; 336725771 |
| Personal Investment Class | &nbsp;&nbsp;&nbsp; 13222425 | &nbsp;&nbsp;&nbsp; 13222425 | &nbsp;&nbsp;&nbsp; 24100174 | &nbsp;&nbsp;&nbsp; 24100174 |
| Private Investment Class | &nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| Reserve Class | &nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| Resource Class | &nbsp;&nbsp;&nbsp; 3040 | &nbsp;&nbsp;&nbsp; 3040 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; 381517885 | &nbsp;&nbsp;&nbsp; 381517885 | &nbsp;&nbsp;&nbsp; 299321339 | &nbsp;&nbsp;&nbsp; 299321339 |
| Investor Class | &nbsp;&nbsp;&nbsp; 9226500 | &nbsp;&nbsp;&nbsp; 9226500 | &nbsp;&nbsp;&nbsp; 8507286 | &nbsp;&nbsp;&nbsp; 8507286 |
| Personal Investment Class | &nbsp;&nbsp;&nbsp; 520037 | &nbsp;&nbsp;&nbsp; 520037 | &nbsp;&nbsp;&nbsp; 442533 | &nbsp;&nbsp;&nbsp; 442533 |
| Private Investment Class | &nbsp;&nbsp;&nbsp; 1143 | &nbsp;&nbsp;&nbsp; 1143 | &nbsp;&nbsp;&nbsp; 1313 | &nbsp;&nbsp;&nbsp; 1313 |
| Reserve Class | &nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp; 494 | &nbsp;&nbsp;&nbsp; 494 |
| Resource Class | &nbsp;&nbsp;&nbsp; 30822 | &nbsp;&nbsp;&nbsp; 30822 | &nbsp;&nbsp;&nbsp; 35168 | &nbsp;&nbsp;&nbsp; 35168 |

---

**21**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**NOTE 8—Share Information**—**(continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Years ended August 31,** | **Years ended August 31,** | **Years ended August 31,** | **Years ended August 31,** |
|  | **2025**<sup>(a)</sup> | **2025**<sup>(a)</sup> | **2024** | **2024** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Reacquired:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; (10131033529)<br>| &nbsp;&nbsp;&nbsp; $(10131033529)<br>| &nbsp;&nbsp;&nbsp; (7247550439)<br>| &nbsp;&nbsp;&nbsp; $(7247550439)<br>|
| Investor Class | &nbsp;&nbsp;&nbsp; (399798657)<br>| &nbsp;&nbsp;&nbsp; (399798657)<br>| &nbsp;&nbsp;&nbsp; (351230155)<br>| &nbsp;&nbsp;&nbsp; (351230155)<br>|
| Personal Investment Class | &nbsp;&nbsp;&nbsp; (27361847)<br>| &nbsp;&nbsp;&nbsp; (27361847)<br>| &nbsp;&nbsp;&nbsp; (18016008)<br>| &nbsp;&nbsp;&nbsp; (18016008)<br>|
| Net increase in share activity | &nbsp;&nbsp;&nbsp; 1967173063 | &nbsp;&nbsp;&nbsp; $1967173063 | &nbsp;&nbsp;&nbsp; 2791414593 | &nbsp;&nbsp;&nbsp; $2791414593 |

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 51% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**Invesco Premier U.S. Government Money Portfolio** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Years ended August 31,** | **Years ended August 31,** | **Years ended August 31,** | **Years ended August 31,** |
|  | **2025**<sup>(a)</sup>  | **2025**<sup>(a)</sup>  | **2024** | **2024** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; 62626497809 | &nbsp;&nbsp;&nbsp; $62626497809 | &nbsp;&nbsp;&nbsp; 51409565237 | &nbsp;&nbsp;&nbsp; $51409565237 |
| Investor Class | &nbsp;&nbsp;&nbsp; 2039620515 | &nbsp;&nbsp;&nbsp; 2039620515 | &nbsp;&nbsp;&nbsp; 450315377 | &nbsp;&nbsp;&nbsp; 450315377 |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; 568104666 | &nbsp;&nbsp;&nbsp; 568104666 | &nbsp;&nbsp;&nbsp; 549306804 | &nbsp;&nbsp;&nbsp; 549306804 |
| Investor Class | &nbsp;&nbsp;&nbsp; 28761155 | &nbsp;&nbsp;&nbsp; 28761155 | &nbsp;&nbsp;&nbsp; 20382490 | &nbsp;&nbsp;&nbsp; 20382490 |
| **Reacquired:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; (59946886883)<br>| &nbsp;&nbsp;&nbsp; (59946886883)<br>| &nbsp;&nbsp;&nbsp; (52030013094)<br>| &nbsp;&nbsp;&nbsp; (52030013094)<br>|
| Investor Class | &nbsp;&nbsp;&nbsp; (950551466)<br>| &nbsp;&nbsp;&nbsp; (950551466)<br>| &nbsp;&nbsp;&nbsp; (407555503)<br>| &nbsp;&nbsp;&nbsp; (407555503)<br>|
| Net increase (decrease) in share activity | &nbsp;&nbsp;&nbsp; 4365545796 | &nbsp;&nbsp;&nbsp; $4365545796 | &nbsp;&nbsp;&nbsp; (7998689)<br>| &nbsp;&nbsp;&nbsp; $(7998689)<br>|

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 63% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**22**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) and Shareholders of Invesco Premier Portfolio and Invesco Premier U.S. Government Money Portfolio

**Opinions on the Financial Statements**

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of Invesco Premier Portfolio and Invesco Premier U.S. Government Money Portfolio (constituting AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust), hereafter collectively referred to as the "Funds") as of August 31, 2025, the related statements of operations for the year ended August 31, 2025, the statements of changes in net assets for each of the two years in the period ended August 31, 2025, including the related notes, and the financial highlights of the Institutional Class for each of the five years in the period ended August 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of August 31, 2025, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended August 31, 2025 and each of the financial highlights of the Institutional Class for each of the five years in the period ended August 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinions**

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of August 31, 2025 by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Houston, Texas

October 24, 2025

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**23**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Approval of Investment Advisory and Sub-Advisory Contracts**

**(Invesco Premier Portfolio and Invesco Premier U.S. Government Money Portfolio)** 

At meetings held on June 16, 2025, the Board of Trustees (the Board or the Trustees) of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) as a whole, and the independent Trustees, who comprise over 75% of the Board, voting separately, approved the continuance of each series portfolio of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) listed above (each, a Fund) Master Investment Advisory Agreement with Invesco Advisers, Inc. (Invesco Advisers and the investment advisory agreement) and for Invesco Premier Portfolio, the Master Intergroup Sub-Advisory Contract for Mutual Funds with Invesco Asset Management Deutschland GmbH\*, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and a separate sub-advisory contract with Invesco Capital Management LLC (collectively, the Affiliated Sub-Advisers and the sub-advisory contracts) for another year, effective July 1, 2025. After evaluating the factors discussed below, among others, the Board approved the renewal of each Fund's investment advisory agreement and the sub-advisory contracts and determined that the compensation payable thereunder by each Fund to Invesco Advisers and by Invesco Advisers to the Affiliated Sub-Advisers is fair and reasonable.&nbsp;&nbsp;&nbsp;&nbsp;

**The Board's Evaluation Process**

The Board has established an Investments Committee, which in turn has established Sub-Committees. The Sub-Committees meet regularly throughout the year with portfolio managers and other members of management to review information about the investment performance and portfolio attributes for those funds advised by Invesco Advisers (Invesco Funds) assigned to them. The Board has established additional standing and ad hoc committees that meet throughout the year to review matters within their purview, including a working group focused on opportunities to make ongoing and continuous improvements to the Board's annual review process for the Invesco Funds' investment advisory agreement and sub-advisory contracts (the annual review process). In considering whether to approve each Invesco Fund's investment advisory agreement and sub-advisory contracts, the Board took into account evaluations and reports that it received from its committees and sub-committees, as well as the information provided to the Board and its committees and sub-committees throughout the year.

As part of the annual review process, the Board reviews and considers information provided in response to requests for

information submitted to management by the independent Trustees with assistance from legal counsel to the independent Trustees (independent legal counsel) and the Senior Officer, an officer of the Invesco Funds who reports directly to the independent Trustees. The Board receives comparative investment performance and fee and expense data regarding the Invesco Funds prepared by Broadridge Financial Solutions, Inc. (Broadridge), an independent provider of investment company data, as well as information on the composition of the peer groups and its methodology for determining peer groups. The Board also receives an independent written evaluation from the Senior Officer. The Senior Officer's evaluation is prepared as part of his responsibility to manage the process by which the Invesco Funds' proposed management fees are negotiated during the annual review process to ensure they are negotiated in a manner that is at arms' length and reasonable in accordance with certain negotiated regulatory requirements. In addition to meetings with Invesco Advisers and fund counsel throughout the year and as part of meetings convened on May 6, 2025 and June 16-18, 2025, the independent Trustees also discussed the continuance of the investment advisory agreement and sub-advisory contracts in separate sessions with the Senior Officer and with independent legal counsel. The discussion below includes summary information drawn in part from the Senior Officer's independent written evaluation with respect to the Fund's investment advisory agreement and sub-advisory contracts, as well as a discussion of the material factors and related conclusions that formed the basis for the Board's approval of each Fund's investment advisory agreement and Invesco Premier Portfolio's sub-advisory contracts. The Trustees' review and conclusions are based on the comprehensive consideration of all information presented to them during the course of the year and are not the result of any single determinative factor. Moreover, one Trustee may have weighed a particular piece of information or factor differently than another Trustee.

**Factors and Conclusions and Summary of Independent Written Fee Evaluation**

*A.* *Nature, Extent and Quality of Services Provided by Invesco Advisers and the Affiliated Sub-Advisers*

The Board reviewed the nature, extent and quality of the advisory services provided to each Fund by Invesco Advisers under each Fund's investment advisory agreement, and the credentials and experience of the officers and employees of Invesco Advisers who provide these services, including each Fund's portfolio

manager(s). The Board's review included consideration of Invesco Advisers' investment process and oversight, credit analysis, and research capabilities. The Board considered information regarding Invesco Advisers' programs for and resources devoted to risk management, including management of investment, enterprise, operational, liquidity, derivatives, valuation and compliance risks, and technology used to manage such risks. The Board received information regarding Invesco's methodology for compensating its investment professionals and the incentives and accountability it creates, as well as how it impacts Invesco's ability to attract and retain talent. The Board considered that Invesco Advisers has shown the willingness to commit resources to support investment in the business and to remain well-positioned to serve Fund shareholders including with regard to attracting and retaining qualified personnel on its investment teams and investing in technology. The Board received a description of, and reports related to, Invesco Advisers' global security program and business continuity plans and of its approach to data privacy and cybersecurity, including related testing. The Board also considered non-advisory services that Invesco Advisers and its affiliates provide to the Invesco Funds, such as various middle office and back office support functions, third party oversight, internal audit, valuation, portfolio trading and legal and compliance. The Board considered Invesco Advisers' systems preparedness and ongoing investment to seek to manage, operate and oversee the Invesco Funds with minimal impact or disruption through challenging environments. The Board reviewed and considered the benefits to shareholders of investing in a Fund that is part of the family of funds under the umbrella of Invesco Ltd., Invesco Advisers' parent company, and noted Invesco Ltd.'s depth and experience in running an investment management business, as well as its commitment of financial and other resources to such business. The Board concluded that the nature, extent and quality of the services provided to each Fund by Invesco Advisers supported the renewal of the investment advisory agreement.

**INVESCO PREMIER PORTFOLIO**

The Board reviewed the services that may be provided to the Fund by the Affiliated Sub-Advisers under the sub-advisory contracts and the credentials and experience of the officers and employees of the Affiliated Sub-Advisers who provide these services. The Board noted the Affiliated Sub-Advisers' expertise with respect to certain asset classes and that the Affiliated Sub-Advisers have offices

**24**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

and personnel that are located in financial centers around the world. As a result, the Board noted that the Affiliated Sub-Advisers can provide research and investment analysis on the markets and economies of various countries and territories in which the Fund may invest, make recommendations regarding securities and assist with portfolio trading. The Board concluded that the sub-advisory contracts may benefit the Fund and its shareholders by permitting Invesco Advisers to use the resources and talents of the Affiliated Sub-Advisers in managing the Fund. The Board concluded that the nature, extent and quality of the services that may be provided to the Fund by the Affiliated Sub-Advisers supported the renewal of the sub-advisory contracts.

**INVESCO PREMIER U.S. GOVERNMENT MONEY PORTFOLIO**

The Board reviewed and considered the benefits to shareholders of investing in a Fund that is part of the Invesco family of funds under the umbrella of Invesco Ltd., Invesco Advisers' parent company, and noted Invesco Ltd.'s depth and experience in conducting an investment management business, as well as its commitment of financial and other resources to such business. The Board also reviewed and considered information regarding the benefits to the Fund resulting from Invesco Ltd.'s acquisition of OppenheimerFunds, Inc. and its subsidiaries (the Transaction) and the resources that Invesco Advisers has committed to managing the Invesco family of funds following the Transaction. The Board concluded that the nature, extent and quality of the services provided to the Fund by Invesco Advisers supported the renewal of the investment advisory agreement.

*B.* *Fund Investment Performance*

**INVESCO PREMIER PORTFOLIO**

The Board considered Fund investment performance as a relevant factor in considering whether to approve the investment advisory agreement. The Board did not view Fund investment performance as a relevant factor in considering whether to approve the sub-advisory contracts for the Fund, as no Affiliated Sub-Adviser currently manages assets of the Fund.

The Board compared the Fund's investment performance over multiple time periods ending December 31, 2024 to the performance of funds in the Broadridge performance universe and against the iMoneyNet First Tier Institutional Funds Category (Index). The Board noted that performance of Investor Class shares of the Fund was in the first quintile of its performance universe for the one, three and five year periods (the first quintile being the best performing funds on a relative basis and the fifth quintile being the worst performing funds on a relative basis). The Board noted that performance of Investor Class shares of the Fund was above the performance of the Index for the one, three and

five year periods. The Board recognized that the performance data reflects a snapshot in time as of a particular date and that selecting a different performance period could produce different results. The Board also reviewed more recent Fund performance as well as other performance metrics, which did not change its conclusions.

**INVESCO PREMIER U.S. GOVERNMENT MONEY PORTFOLIO**

The Board considered Fund investment performance as a relevant factor in considering whether to approve the investment advisory agreement.

The Board compared the Fund's investment performance over multiple time periods ending December 31, 2024 to the performance of funds in the Broadridge performance universe and against the iMoneyNet Government Institutional Funds Category (Index). The Board noted that performance of Investor Class shares of the Fund was in the first quintile of its performance universe for the one, three and five year periods (the first quintile being the best performing funds on a relative basis and the fifth quintile being the worst performing funds on a relative basis). The Board noted that performance of Investor Class shares of the Fund was above the performance of the Index for the one, three and five year periods. The Board recognized that the performance data reflects a snapshot in time as of a particular date and that selecting a different performance period could produce different results. The Board also reviewed more recent Fund performance as well as other performance metrics, which did not change its conclusions.

*C.* *Advisory and Sub-Advisory Fees and Fund Expenses*

**INVESCO PREMIER PORTFOLIO**

The Board received information regarding Invesco Advisers' approach with respect to contractual management fee schedules and compared the Fund's contractual management fee rate to the contractual management fee rates of funds in the Fund's Broadridge expense group. The Board noted that the contractual management and actual management fee rates for Investor Class shares of the Fund were each reasonably comparable to the median contractual management and actual management fee rates of funds in its expense group. The Board noted that the term "contractual management fee" and "actual management fee" for funds in the expense group may include both advisory and certain non-portfolio management administrative services fees, but that Broadridge is not able to provide information on a fund-by-fund basis as to what is included. The Board also reviewed the methodology used by Broadridge in calculating expense group information, which includes using each fund's contractual management fee schedule (including any applicable breakpoints) as reported in the most

recent prospectus or statement of additional information for each fund in the expense group. The Board also considered comparative information regarding the Fund's total expense ratio and its various components. The Board noted that the Fund differs from the other Invesco Funds in that it pays "all-inclusive" unitary advisory fees that cover various Fund operating expenses.

The Board noted that Invesco Advisers has contractually agreed to waive advisory fees of the Fund in an amount and for the term disclosed in the Fund's registration statement. The Board further noted that Invesco Advisers has voluntarily undertaken to waive fees to the extent necessary to assist the Fund in attempting to maintain a positive yield.

The Board also considered the fees charged by Invesco Advisers and its affiliates to other client accounts that are similarly managed. Invesco Advisers reviewed with the Board differences in the scope of services it provides to the Invesco Funds relative to that provided by Invesco Advisers and its affiliates to certain other types of client accounts, including, among others: management of cash flows as a result of redemptions and purchases; necessary infrastructure such as officers, office space, technology, legal and distribution; oversight of service providers; costs and business risks associated with launching new funds and sponsoring and maintaining the product line; and compliance with federal and state laws and regulations. Invesco Advisers also advised the Board that many of the similarly managed client accounts have all-inclusive fee structures, which are not easily un-bundled.

The Board also compared the Fund's advisory fee rate before the application of advisory fee waivers/expense limitations to the effective advisory fee rates before the application of advisory fee waivers/expense limitations of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2024.

The Board also considered the services that may be provided by the Affiliated Sub-Advisers pursuant to the sub-advisory contracts, as well as the fees payable by Invesco Advisers to the Affiliated Sub-Advisers pursuant to the sub-advisory contracts.

**INVESCO PREMIER U.S. GOVERNMENT MONEY PORTFOLIO**

The Board received information regarding Invesco Advisers' approach with respect to contractual management fee schedules and compared the Fund's contractual management fee rate to the contractual management fee rates of funds in the Fund's Broadridge expense group. The Board noted that the contractual management and actual management fee rates for Investor Class shares of the Fund were above and reasonably comparable to, respectively, the median contractual management and actual

**25**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

management fee rates of funds in its expense group. The Board noted that the term "contractual management fee" and "actual management fee" for funds in the expense group may include both advisory and certain non-portfolio management administrative services fees, but that Broadridge is not able to provide information on a fund-by-fund basis as to what is included. The Board also reviewed the methodology used by Broadridge in calculating expense group information, which includes using each fund's contractual management fee schedule (including any applicable breakpoints) as reported in the most recent prospectus or statement of additional information for each fund in the expense group. The Board also considered comparative information regarding the Fund's total expense ratio and its various components. The Board noted that the Fund differs from the other Invesco Funds in that it pays "all-inclusive" unitary advisory fees that cover various Fund operating expenses. The Board noted that the Fund's, contractual management fees were in the fourth quintile of its expense group and discussed with management reasons for such relative contractual management fees.

The Board noted that Invesco Advisers has contractually agreed to waive advisory fees of the Fund in an amount and for the term disclosed in the Fund's registration statement. The Board further noted that Invesco Advisers has voluntarily undertaken to waive fees to the extent necessary to assist the Fund in attempting to maintain a positive yield.

The Board also considered the fees charged by Invesco Advisers and its affiliates to other client accounts that are similarly managed. Invesco Advisers reviewed with the Board differences in the scope of services it provides to the Invesco Funds relative to that provided by Invesco Advisers and its affiliates to certain other types of client accounts, including, among others: management of cash flows as a result of redemptions and purchases; necessary infrastructure such as officers, office space, technology, legal and distribution; oversight of service providers; costs and business risks associated with launching new funds and sponsoring and maintaining the product line; and compliance with federal and state laws and regulations. Invesco Advisers also advised the Board that many of the similarly managed client accounts have all-inclusive fee structures, which are not easily un-bundled.

The Board also compared the Fund's advisory fee rate before the application of advisory fee waivers/expense limitations to the effective advisory fee rates before the application of advisory fee waivers/expense limitations of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2024.

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

*D.* *Economies of Scale and Breakpoints*

The Board considered the extent to which there may be economies of scale in the provision of advisory services to each Fund and the Invesco Funds, and the extent to which such economies of scale are shared with each Fund and the Invesco Funds. The Board acknowledged the limitations in calculating and measuring economies of scale at the individual fund level; noting that only indicative and estimated measures are available at the individual fund level and that such measures are subject to uncertainty. The Board noted that each Fund does not benefit from economies of scale through contractual breakpoints, but does share in economies of scale through Invesco Advisers' ability to negotiate lower fee arrangements with third party service providers. The Board noted that each Fund may also benefit from economies of scale through initial fee setting, fee waivers and expense reimbursements, as well as Invesco Advisers' management of significant assets and investment in its business, including investments in business infrastructure, technology and cybersecurity.

*E.* *Profitability and Financial Resources*

The Board reviewed information from Invesco Advisers concerning the costs of the advisory and other services that Invesco Advisers and its affiliates provide to each Fund and the Invesco Funds and the profitability of Invesco Advisers and its affiliates in providing these services in the aggregate and on an individual fund-by-fund basis. The Board considered the methodology used for calculating profitability and the periodic review and enhancement of such methodology. The Board noted that Invesco Advisers continues to operate at a net profit from services Invesco Advisers and its affiliates provide to the Invesco Funds in the aggregate and to most Invesco Funds individually. The Board considered that profits to Invesco Advisers can vary significantly depending on the particular Invesco Fund, with some Invesco Funds showing indicative losses to Invesco Advisers and others showing indicative profits at healthy levels, and that Invesco Advisers' support for and commitment to an Invesco Fund are not, however, solely dependent on the profits attributed to such Fund. The Board did not deem the level of profits realized by Invesco Advisers and its affiliates from providing such services to be excessive, given the nature, extent and quality of the services provided. The Board noted that Invesco Advisers provided information demonstrating that Invesco Advisers is financially sound and has the resources necessary to perform its obligations under the investment advisory agreement, and provided representations indicating that the Affiliated Sub-Advisers are financially sound and have the resources necessary to perform their obligations under the sub-advisory contracts. The Board noted the cyclical and competitive

nature of the global asset management industry.&nbsp;&nbsp;&nbsp;&nbsp;

*F.* *Collateral Benefits to Invesco Advisers and its Affiliates*

The Board considered various other benefits received by Invesco Advisers and its affiliates from the relationship with each Fund, including the fees received for providing administrative, transfer agency and distribution services to each Fund. The Board received comparative information regarding fees charged for these services, including information provided by Broadridge and other independent sources. The Board reviewed the performance of Invesco Advisers and its affiliates in providing these services and the organizational structure employed to provide these services. The Board noted that these services are provided to each Fund pursuant to written contracts that are reviewed and subject to approval on an annual basis by the Board based on its reasonable business judgement and in accordance with applicable regulatory guidance.

\*Effective as of August 29, 2025, Invesco Asset Management Deutschland GmbH merged into Invesco Management S.A.

**26**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year-end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Funds designate the following amounts or, if subsequently determined to be different, the maximum amount allowable for their fiscal year ended August 31, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Federal and State** <br> **Income Tax**<br>|  |  |  |  |  |  |
|  | **Business Interest** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Qualified Business** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Qualified Dividend** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Corporate** <br>**Dividends** <br>**Received** <br>**Deduction\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **U.S Treasury** <br>**Obligations\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Long Term** <br>**Capital Gain Distributions**<br>|
| Invesco Premier <br> Portfolio<br>| &nbsp;&nbsp; 99.93% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; $0.00 |
| Invesco Premier <br> U.S. Government <br> Money Portfolio<br>| &nbsp;&nbsp; 99.94% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 17.18% | &nbsp;&nbsp;&nbsp;&nbsp; 58146.00 |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during each Fund's fiscal year.

---

| | | |
|:---|:---|:---|
| **Non-Resident Alien Shareholders** |  |  |
|  | **Qualified** <br>**Short-Term Gains**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Qualified** <br>**Interest Income\*\***<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp; $2356 | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% |
| Invesco Premier U.S. Government Money Portfolio | &nbsp;&nbsp; 618336 | &nbsp;&nbsp;&nbsp;&nbsp; 100.00% |

---

\*\*

The above percentages are based on income dividends paid to shareholders during each Fund's fiscal year.

**27**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

The statement regarding basis for approval of investment advisory contracts can be found in the Approval of Investment Advisory and Sub-Advisory Contracts section of this report.

**28**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

![](img0af682d61.jpg)

SEC file numbers: 811-05460 and 033-19862

Invesco Distributors, Inc.

CM-I-TST-NCSR-INST

------

![](imgb2c8a0581.jpg)

------

**Annual Financial Statements and Other Information**

**August 31, 2025**

**Personal Investment Class**

**AIM Treasurer's Series Trust**

**(Invesco Treasurer's Series Trust)**

Invesco Premier Portfolio

------

---

| | |
|:---|:---|
| [2](#xx_34428e30-b906-43ec-81e2-e4ba6f1c5bf7_SOI-Continued-479_1) | Schedule of Investments |
| [8](#xx_34428e30-b906-43ec-81e2-e4ba6f1c5bf7_FS-Continued-479_1) | Financial Statements |
| [11](#xx_34428e30-b906-43ec-81e2-e4ba6f1c5bf7_FS-Continued-479_4) | Financial Highlights |
| [12](#xx_34428e30-b906-43ec-81e2-e4ba6f1c5bf7_NTF-Continued-479_1) | Notes to Financial Statements |
| [16](#xx_34428e30-b906-43ec-81e2-e4ba6f1c5bf7_RIR-Continued-479_1) | Report of Independent Registered Public Accounting Firm |
| [17](#xx_34428e30-b906-43ec-81e2-e4ba6f1c5bf7_AOC-Continued-479_1) | Approval of Investment Advisory and Sub-Advisory Contracts |
| [20](#xx_34428e30-b906-43ec-81e2-e4ba6f1c5bf7_TI-Continued-479_1) | Tax Information |
| [21](#xx_34428e30-b906-43ec-81e2-e4ba6f1c5bf7_OIRSR-Continued-479_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments**

*August 31, 2025*

**Invesco Premier Portfolio**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  |
| **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** |
| BofA Securities, Inc. (SOFR + 0.43%)<sup>(b)</sup> <br>| 4.85% | 04/29/2026 | $25000 | &nbsp;&nbsp; $25000000 |
| BofA Securities, Inc. | 4.25% | 05/06/2026 | 50000 | &nbsp;&nbsp; 48586611 |
| BofA Securities, Inc. | 4.24% | 05/21/2026 | 10000 | &nbsp;&nbsp; 9700884 |
|  |  |  |  | &nbsp;&nbsp; 83287495 |
| **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** |
| Old Line Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.41% | 12/01/2025 | 50000 | &nbsp;&nbsp; 49456528 |
| Old Line Funding LLC (CEP-Royal Bank of Canada) (SOFR + 0.34%)<sup>(b)(c)(d)</sup> <br>| 4.76% | 06/04/2026 | 35000 | &nbsp;&nbsp; 35000000 |
| Old Line Funding LLC (CEP - Royal Bank of Canada) (SOFR + 0.35%)<sup>(b)(c)(d)</sup> <br>| 4.74% | 07/02/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Old Line Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.33% | 07/17/2026 | 50000 | &nbsp;&nbsp; 48161319 |
| Old Line Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.20% | 08/14/2026 | 40000 | &nbsp;&nbsp; 38446211 |
| Thunder Bay Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.20% | 08/14/2026 | 50000 | &nbsp;&nbsp; 48057764 |
|  |  |  |  | &nbsp;&nbsp; 269121822 |
| **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** |
| Atlantic Asset Securitization LLC (CEP-Credit Agricole Corporate & Investment Bank <br> S.A.)<sup>(c)(d)</sup> <br>| 4.43% | 01/21/2026 | 40000 | &nbsp;&nbsp; 39316822 |
| **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** |
| Anglesea Funding LLC (Multi-CEP's) (01 mo. OBFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.65% | 01/26/2026 | 80000 | &nbsp;&nbsp; 80000000 |
| Anglesea Funding LLC (Multi-CEP's) (01 mo. OBFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.70% | 02/11/2026 | 80000 | &nbsp;&nbsp; 80000000 |
| Anglesea Funding LLC (Multi-CEP's) (01 mo. OBFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.64% | 02/24/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Concord Minutemen Capital Co. LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.35% | 11/25/2025 | 61760 | &nbsp;&nbsp; 61132965 |
| Lexington Parker Capital Co. LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.35% | 09/02/2025 | 134132 | &nbsp;&nbsp; 134115792 |
| Mont Blanc Capital Corp. (CEP-ING Bank N.V.)<sup>(c)(d)</sup> <br>| 4.31% | 12/15/2025 | 30000 | &nbsp;&nbsp; 29628125 |
| Mountcliff Funding LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.49% | 09/04/2025 | 50000 | &nbsp;&nbsp; 49981500 |
| Mountcliff Funding LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.39% | 11/07/2025 | 100000 | &nbsp;&nbsp; 99190417 |
| Versailles Commercial Paper LLC (CEP-Natixis SA) (SOFR + 0.18%)<sup>(b)(c)(d)</sup> <br>| 4.60% | 10/22/2025 | 100000 | &nbsp;&nbsp; 100000000 |
|  |  |  |  | &nbsp;&nbsp; 684048799 |
| **Consumer Finance-0.51%** | **Consumer Finance-0.51%** | **Consumer Finance-0.51%** | **Consumer Finance-0.51%** | **Consumer Finance-0.51%** |
| Toyota Motor Credit Corp.<sup>(d)</sup> <br>| 4.45% | 12/04/2025 | 50000 | &nbsp;&nbsp; 49428167 |
| **Diversified Banks-16.13%** | **Diversified Banks-16.13%** | **Diversified Banks-16.13%** | **Diversified Banks-16.13%** | **Diversified Banks-16.13%** |
| ANZ New Zealand Int'l Ltd. (United Kingdom)<sup>(c)(d)</sup> <br>| 4.14% | 03/02/2026 | 50000 | &nbsp;&nbsp; 48959250 |
| Australia & New Zealand Banking Group Ltd. (Australia)<sup>(c)(d)</sup> <br>| 4.21% | 02/23/2026 | 65000 | &nbsp;&nbsp; 63696615 |
| Bank of New York Mellon (The) (SOFR + 0.18%)<sup>(b)</sup> <br>| 4.84% | 09/30/2025 | 60100 | &nbsp;&nbsp; 60100000 |
| Barclays Bank PLC (SOFR + 0.20%)<sup>(b)(c)(d)</sup> <br>| 4.69% | 09/12/2025 | 50000 | &nbsp;&nbsp; 50000000 |
| Barclays Bank PLC<sup>(c)(d)</sup> <br>| 4.50% | 11/17/2025 | 75000 | &nbsp;&nbsp; 74294166 |
| Barclays Bank PLC (SOFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.66% | 01/06/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| Barclays Bank PLC<sup>(c)(d)</sup> <br>| 4.29% | 02/20/2026 | 30000 | &nbsp;&nbsp; 29398000 |
| BNG Bank N.V. (Netherlands)<sup>(c)(d)</sup> <br>| 4.33% | 09/04/2025 | 200000 | &nbsp;&nbsp; 199927833 |
| Citigroup Global Markets, Inc.<sup>(c)</sup> <br>| 4.63% | 11/14/2025 | 25000 | &nbsp;&nbsp; 24772861 |
| Citigroup Global Markets, Inc. (SOFR + 0.22%)<sup>(b)(c)</sup> <br>| 4.65% | 12/19/2025 | 55000 | &nbsp;&nbsp; 55000000 |
| Citigroup Global Markets, Inc.<sup>(c)</sup> <br>| 4.37% | 05/14/2026 | 25000 | &nbsp;&nbsp; 24258021 |
| Citigroup Global Markets, Inc. (SOFR + 0.34%)<sup>(b)(c)</sup> <br>| 4.75% | 06/17/2026 | 75000 | &nbsp;&nbsp; 75000000 |
| Dexia S.A. (France)<sup>(c)(d)</sup> <br>| 4.39% | 10/23/2025 | 50000 | &nbsp;&nbsp; 49686556 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**2**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Diversified Banks-(continued)** | **Diversified Banks-(continued)** | **Diversified Banks-(continued)** | **Diversified Banks-(continued)** | **Diversified Banks-(continued)** |
| DNB Bank ASA (Norway)<sup>(c)(d)</sup> <br>| 4.59% | 11/12/2025 | $10000 | &nbsp;&nbsp; $9912200 |
| DNB Bank ASA (Norway)<sup>(c)(d)</sup> <br>| 4.33% | 04/20/2026 | 50000 | &nbsp;&nbsp; 48655708 |
| DNB Bank ASA (Norway)<sup>(c)(d)</sup> <br>| 4.27% | 07/07/2026 | 40000 | &nbsp;&nbsp; 38592333 |
| HSBC Bank PLC (SOFR + 0.36%) (United Kingdom)<sup>(b)(c)(d)</sup> <br>| 4.87% | 09/11/2025 | 25000 | &nbsp;&nbsp; 25000000 |
| HSBC Bank PLC (SOFR + 0.36%) (United Kingdom)<sup>(b)(c)(d)</sup> <br>| 4.89% | 09/25/2025 | 50000 | &nbsp;&nbsp; 49999666 |
| ING (US) Funding LLC<sup>(c)(d)</sup> <br>| 4.50% | 10/07/2025 | 50000 | &nbsp;&nbsp; 49785000 |
| ING (US) Funding LLC (SOFR + 0.24%)<sup>(b)(c)(d)</sup> <br>| 4.60% | 10/24/2025 | 51000 | &nbsp;&nbsp; 51000000 |
| ING US Funding LLC (SOFR + 0.33%)<sup>(b)(c)(d)</sup> <br>| 4.77% | 12/18/2025 | 25000 | &nbsp;&nbsp; 25000000 |
| ING US Funding LLC (SOFR + 0.26%)<sup>(b)(c)(d)</sup> <br>| 4.64% | 03/09/2026 | 25000 | &nbsp;&nbsp; 24997394 |
| ING US Funding LLC<sup>(c)(d)</sup> <br>| 4.43% | 05/01/2026 | 40000 | &nbsp;&nbsp; 38846467 |
| Lloyds Bank PLC (United Kingdom)<sup>(d)</sup> <br>| 4.24% | 02/09/2026 | 51445 | &nbsp;&nbsp; 50490195 |
| Lloyds Bank PLC (United Kingdom)<sup>(d)</sup> <br>| 4.24% | 02/11/2026 | 49600 | &nbsp;&nbsp; 48668002 |
| Lloyds Bank PLC (United Kingdom)<sup>(c)(d)</sup> <br>| 4.35% | 04/24/2026 | 50000 | &nbsp;&nbsp; 48625903 |
| National Australia Bank Ltd. (SOFR + 0.20%) (Australia)<sup>(b)(c)(d)</sup> <br>| 4.59% | 11/03/2025 | 75000 | &nbsp;&nbsp; 75000000 |
| Skandinaviska Enskilda Banken AB (Sweden)<sup>(c)(d)</sup> <br>| 4.50% | 10/29/2025 | 50000 | &nbsp;&nbsp; 49653611 |
| UBS AG (SOFR + 0.38%)<sup>(b)(c)(d)</sup> <br>| 4.78% | 05/15/2026 | 25000 | &nbsp;&nbsp; 25000000 |
| Westpac Banking Corp. (SOFR + 0.33%) (Australia)<sup>(b)(c)(d)</sup> <br>| 4.83% | 09/04/2025 | 50000 | &nbsp;&nbsp; 50000000 |
|  |  |  |  | &nbsp;&nbsp; 1564319781 |
| **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** |
| Collateralized Commercial Paper V Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.28%)<sup>(b)</sup> <br>| 4.72% | 12/16/2025 | 25000 | &nbsp;&nbsp; 25000000 |
| Collateralized Commercial Paper V Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.29%)<sup>(b)</sup> <br>| 4.74% | 02/09/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Collateralized Commercial Paper V Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.30%)<sup>(b)</sup> <br>| 4.71% | 03/10/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Endeavour Funding Co. LLC (CEP-HSBC Bank PLC)<sup>(c)(d)</sup> <br>| 4.38% | 09/02/2025 | 50000 | &nbsp;&nbsp; 49993917 |
| Great Bear Funding LLC (CEP - Bank of Nova Scotia) (01 mo. OBFR + 0.23%)<sup>(b)(d)</sup> <br>| 4.69% | 02/23/2026 | 95000 | &nbsp;&nbsp; 95000000 |
| Great Bear Funding LLC (CEP - Bank of Nova Scotia) (01 mo. OBFR + 0.26%)<sup>(b)(d)</sup> <br>| 4.64% | 04/30/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Lion Bay Funding LLC (Multi-CEP's) (SOFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.72% | 12/15/2025 | 50000 | &nbsp;&nbsp; 50000000 |
| Mackinac Funding Co. LLC (CEP-BNP Paribas SA)<sup>(c)(d)</sup> <br>| 4.48% | 09/04/2025 | 75000 | &nbsp;&nbsp; 74972312 |
| Park Avenue Collateralized Notes Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.36%)<sup>(b)(c)</sup> <br>| 4.83% | 01/27/2026 | 25000 | &nbsp;&nbsp; 25000000 |
| UBS AG<sup>(c)(d)</sup> <br>| 4.47% | 10/08/2025 | 25000 | &nbsp;&nbsp; 24890028 |
| UBS AG (SOFR + 0.39%)<sup>(b)(c)(d)</sup> <br>| 4.82% | 12/01/2025 | 50000 | &nbsp;&nbsp; 50000000 |
| UBS AG (SOFR + 0.39%)<sup>(b)(c)(d)</sup> <br>| 4.85% | 01/02/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| UBS AG (SOFR + 0.32%)<sup>(b)(c)(d)</sup> <br>| 4.73% | 03/02/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| UBS AG (SOFR + 0.37%)<sup>(b)(c)(d)</sup> <br>| 4.79% | 06/17/2026 | 35000 | &nbsp;&nbsp; 35000000 |
|  |  |  |  | &nbsp;&nbsp; 729856257 |
| **Regional Banks-2.06%** | **Regional Banks-2.06%** | **Regional Banks-2.06%** | **Regional Banks-2.06%** | **Regional Banks-2.06%** |
| ASB Bank Ltd. (SOFR + 0.35%) (New Zealand)<sup>(b)(c)(d)</sup> <br>| 4.79% | 02/17/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| ASB Bank Ltd. (SOFR + 0.32%) (New Zealand)<sup>(b)(c)(d)</sup> <br>| 4.78% | 02/27/2026 | 100000 | &nbsp;&nbsp; 100000000 |
|  |  |  |  | &nbsp;&nbsp; 200000000 |
| **Specialized Finance-5.60%** | **Specialized Finance-5.60%** | **Specialized Finance-5.60%** | **Specialized Finance-5.60%** | **Specialized Finance-5.60%** |
| Aquitaine Funding Co. LLC (CEP-Societe Generale S.A.)<sup>(c)(d)</sup> <br>| 4.40% | 09/02/2025 | 200000 | &nbsp;&nbsp; 199975555 |
| Aquitaine Funding Co. LLC (CEP-Societe Generale S.A.)<sup>(c)(d)</sup> <br>| 4.50% | 09/03/2025 | 100000 | &nbsp;&nbsp; 99975278 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**3**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** |
| Cabot Trail Funding LLC (CEP-Toronto-Dominion Bank) (SOFR + 0.18%)<sup>(b)(d)</sup> <br>| 4.67% | 09/05/2025 |  | $30000 | &nbsp;&nbsp; $30000000 |
| CDP Financial, Inc. (Canada)<sup>(c)(d)</sup> <br>| 4.51% | 01/08/2026 |  | 50000 | &nbsp;&nbsp; 49227792 |
| CDP Financial, Inc. (Canada)<sup>(c)(d)</sup> <br>| 4.53% | 02/03/2026 |  | 65000 | &nbsp;&nbsp; 63788201 |
| Concord Minutemen Capital Co. LLC (CEP-Goldman Sachs International) (SOFR + 0.30%)<sup>(b)(c)</sup> <br>| 4.65% | 12/23/2025 |  | 35000 | &nbsp;&nbsp; 35000000 |
| Concord Minutemen Capital Co. LLC (CEP-Goldman Sachs International)<sup>(c)</sup> <br>| 4.33% | 02/25/2026 |  | 15000 | &nbsp;&nbsp; 14688037 |
| Podium Funding Trust (CEP-Bank of Montreal) (SOFR + 0.34%) (Canada)<sup>(b)(d)</sup> <br>| 4.69% | 03/05/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
|  |  |  |  |  | &nbsp;&nbsp; 542654863 |
| Total Commercial Paper (Cost $4,162,034,006) | Total Commercial Paper (Cost $4,162,034,006) | Total Commercial Paper (Cost $4,162,034,006) | Total Commercial Paper (Cost $4,162,034,006) |  | &nbsp;&nbsp; 4162034006 |
| **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** |
| Australia & New Zealand Banking Group Ltd. (Cayman Islands)<sup>(d)</sup> <br>| 4.32% | 09/02/2025 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Bank of America N.A. | 4.49% | 01/07/2026 |  | 75000 | &nbsp;&nbsp; 75000000 |
| Bank of America N.A. | 4.24% | 03/02/2026 |  | 25000 | &nbsp;&nbsp; 25000000 |
| Bank of America N.A. (SOFR + 0.34%)<sup>(b)</sup> <br>| 4.70% | 04/27/2026 |  | 80000 | &nbsp;&nbsp; 80000000 |
| Barclays Bank PLC (SOFR + 0.35%) (United Kingdom)<sup>(b)(d)</sup> <br>| 4.69% | 10/15/2025 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Canadian Imperial Bank of Commerce (Canada)<sup>(d)</sup> <br>| 4.32% | 09/02/2025 |  | 90000 | &nbsp;&nbsp; 90000000 |
| Canadian Imperial Bank of Commerce (SOFR + 0.36%) (Canada)<sup>(b)(d)</sup> <br>| 4.70% | 11/17/2025 |  | 41000 | &nbsp;&nbsp; 41000000 |
| Canadian Imperial Bank of Commerce (SOFR + 0.40%) (Canada)<sup>(b)(d)</sup> <br>| 4.74% | 09/08/2026 |  | 80000 | &nbsp;&nbsp; 80000000 |
| Citibank N.A. (SOFR + 0.35%)<sup>(b)</sup> <br>| 4.69% | 10/27/2025 |  | 75000 | &nbsp;&nbsp; 75000000 |
| Cooperatieve Rabobank U.A. (Cayman Islands)<sup>(d)</sup> <br>| 4.32% | 09/02/2025 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Credit Agricole Corporate and Investment Bank<sup>(d)</sup> <br>| 4.34% | 04/30/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Credit Agricole Corporate And Investment Bank<sup>(d)</sup> <br>| 4.31% | 09/02/2025 |  | 200000 | &nbsp;&nbsp; 200000000 |
| KEB Hana Bank<sup>(d)</sup> <br>| 4.42% | 12/15/2025 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Korea Development Bank<sup>(d)</sup> <br>| 4.26% | 03/02/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Mitsubishi UFJ Trust & Banking Corp. (SOFR + 0.23%) (Japan)<sup>(b)(d)</sup> <br>| 4.57% | 12/11/2025 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Mitsubishi UFJ Trust & Banking Corp. (SOFR + 0.22%)<sup>(b)(d)</sup> <br>| 4.56% | 02/06/2026 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Mizuho Bank Ltd.<sup>(d)</sup> <br>| 4.33% | 09/02/2025 |  | 30000 | &nbsp;&nbsp; 30000000 |
| Mizuho Bank Ltd.<sup>(d)</sup> <br>| 4.33% | 09/02/2025 |  | 220000 | &nbsp;&nbsp; 220000000 |
| Mizuho Bank Ltd.<sup>(d)</sup> <br>| 4.36% | 09/02/2025 |  | 200000 | &nbsp;&nbsp; 200000000 |
| Standard Chartered Bank (SOFR + 0.26%) (United Kingdom)<sup>(b)(d)</sup> <br>| 4.60% | 02/06/2026 |  | 90000 | &nbsp;&nbsp; 90000000 |
| Sumitomo Mitsui Banking Corp. (SOFR + 0.22%)<sup>(b)(d)</sup> <br>| 4.56% | 02/26/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Swedbank AB<sup>(d)</sup> <br>| 4.31% | 04/24/2026 |  | 25000 | &nbsp;&nbsp; 25000000 |
| Toronto-Dominion Bank (Canada)<sup>(d)</sup> <br>| 4.38% | 07/09/2026 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Total Certificates of Deposit (Cost $1,981,000,000) | Total Certificates of Deposit (Cost $1,981,000,000) | Total Certificates of Deposit (Cost $1,981,000,000) | Total Certificates of Deposit (Cost $1,981,000,000) |  | &nbsp;&nbsp; 1981000000 |
| **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  |
| **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** |
| Altoona-Blair County Development Corp.; Series 2015, VRD Bonds (LOC - PNC Bank, <br> N.A.)<sup>(c)(f)</sup> <br>| 4.41% | 04/01/2035 |  | 17850 | &nbsp;&nbsp; 17850000 |
| Jets Stadium Development LLC; Series 2014 A-4B, VRD Bonds (LOC - Sumitomo Mitsui <br> Banking Corp.)<sup>(c)(d)(f)</sup> <br>| 4.80% | 04/01/2047 |  | 12600 | &nbsp;&nbsp; 12600000 |
| Jets Stadium Development LLC; Series 2014 A-4C, VRD Bonds (LOC - Sumitomo Mitsui <br> Banking Corp.)<sup>(c)(d)(f)</sup> <br>| 4.80% | 04/01/2047 |  | 27300 | &nbsp;&nbsp; 27300000 |
| Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank, N.A.)<sup>(f)</sup> <br>| 4.42% | 05/01/2037 |  | 13160 | &nbsp;&nbsp; 13160000 |
| Ziegler Realty LLC; Series 2007, VRD Notes (LOC - Wells Fargo Bank, N.A.)<sup>(c)(f)</sup> <br>| 4.48% | 01/01/2033 |  | 3800 | &nbsp;&nbsp; 3800000 |
|  |  |  |  |  | &nbsp;&nbsp; 74710000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**4**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** |
| Board of Regents of the University of Texas System; Series 2016, RB | 4.32% | 08/01/2045 |  | $27550 | &nbsp;&nbsp; $27550000 |
| Total Variable Rate Demand Notes (Cost $102,260,000) | Total Variable Rate Demand Notes (Cost $102,260,000) | Total Variable Rate Demand Notes (Cost $102,260,000) | Total Variable Rate Demand Notes (Cost $102,260,000) |  | &nbsp;&nbsp; 102260000 |
| TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) |  | &nbsp;&nbsp; 6245294006 |
|  |  |  | &nbsp;&nbsp; **Repurchase**<br> **Amount** | &nbsp;&nbsp; **Repurchase**<br> **Amount** |  |
| **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  |
| ABN AMRO Bank N.V., joint agreement dated 08/29/2025, aggregate maturing value of <br> $550,265,222 (collateralized by agency mortgage-backed securities and U.S. Treasury <br> obligations valued at $561,000,046; 0.38% - 7.00%; 04/30/2026 - 08/20/2055)<br>| 4.34% | 09/02/2025 |  | 100048222 | &nbsp;&nbsp; 100000000 |
| Bank of Nova Scotia, joint term agreement dated 08/25/2025, aggregate maturing value <br> of $400,397,666 (collateralized by corporate obligations and non-agency asset-backed <br> securities valued at $420,365,362; 2.26% - 10.08%; 05/01/2027 - <br> 11/22/2052)<sup>(d)(h)(i)</sup> <br>| 4.48% | 09/02/2025 |  | 50049708 | &nbsp;&nbsp; 50000000 |
| Bank of Nova Scotia, joint term agreement dated 08/25/2025, aggregate maturing value <br> of $600,600,500 (collateralized by equity securities valued at $630,378,305; <br> 0.00%)<sup>(d)(h)(i)</sup> <br>| 4.51% | 09/02/2025 |  | 240240200 | &nbsp;&nbsp; 240000000 |
| BMO Capital Markets Corp., joint term agreement dated 08/29/2025, aggregate maturing <br> value of $125,550,521 (collateralized by agency and non-agency asset-backed <br> securities, corporate obligations and non-agency mortgage-backed securities valued at <br> $133,974,061; 0.00% - 12.57%; 03/15/2027 - 08/25/2070)<sup>(d)(i)</sup> <br>| 4.53% | 10/03/2025 |  | 60264250 | &nbsp;&nbsp; 60000000 |
| BMO Capital Markets Corp., joint term agreement dated 08/29/2025, aggregate maturing <br> value of $577,515,625 (collateralized by corporate obligations, non-agency <br> asset-backed securities and non-agency mortgage-backed securities valued at <br> $603,750,677; 0.00% - 9.57%; 04/15/2026 - 05/25/2070)<sup>(d)(i)</sup> <br>| 4.50% | 10/03/2025 |  | 145634375 | &nbsp;&nbsp; 145000000 |
| BNP Paribas Securities Corp., joint term agreement dated 06/25/2025, aggregate <br> maturing value of $300,155,334 (collateralized by corporate obligations and <br> non-agency asset-backed securities valued at $329,765,156; 1.86% - 13.00%; <br> 02/15/2026 - 01/15/2084)<sup>(d)(h)(i)</sup> <br>| 4.66% | 09/02/2025 |  | 100051778 | &nbsp;&nbsp; 100000000 |
| BNP Paribas Securities Corp., joint term agreement dated 07/10/2025, aggregate <br> maturing value of $2,501,233,333 (collateralized by agency mortgage-backed <br> securities, U.S. government sponsored agency obligations and U.S. Treasury obligations <br> valued at $2,550,000,006; 0.00% - 8.00%; 09/04/2025 - 04/20/2065)<sup>(h)(i)</sup> <br>| 4.44% | 09/02/2025 |  | 45022200 | &nbsp;&nbsp; 45000000 |
| BNP Paribas Securities Corp., joint term agreement dated 07/30/2025, aggregate <br> maturing value of $300,153,666 (collateralized by agency and non-agency <br> mortgage-backed securities, corporate obligations and non-agency asset-backed <br> securities valued at $315,000,001; 0.63% - 8.75%; 09/12/2025 - <br> 10/31/2082)<sup>(d)(h)(i)</sup> <br>| 4.61% | 09/02/2025 |  | 150076833 | &nbsp;&nbsp; 150000000 |
| BNP Paribas Securities Corp., joint term agreement dated 08/27/2025, aggregate <br> maturing value of $300,258,417 (collateralized by corporate obligations, non-agency <br> asset-backed securities and non-agency mortgage-backed securities valued at <br> $315,000,489; 0.63% - 9.25%; 09/01/2025 - 07/01/2116)<sup>(d)(i)</sup> <br>| 4.43% | 09/03/2025 |  | 100086139 | &nbsp;&nbsp; 100000000 |
| Citigroup Global Markets, Inc., joint agreement dated 08/29/2025, aggregate maturing <br> value of $1,000,481,111 (collateralized by U.S. Treasury obligations valued at <br> $1,020,119,984; 0.13% - 6.25%; 04/30/2030 - 07/31/2030)<br>| 4.33% | 09/02/2025 |  | 250120278 | &nbsp;&nbsp; 250000000 |
| Credit Agricole Corporate & Investment Bank, joint open agreement dated 08/14/2025 <br> (collateralized by commercial paper, corporate obligations, non-agency asset-backed <br> securities and non-agency mortgage-backed securities valued at $317,082,606; <br> 0.00% - 9.50%; 09/21/2025 - 08/25/2067)<sup>(d)(j)</sup> <br>| 4.46% | 09/02/2025 |  | 50117250 | &nbsp;&nbsp; 50000000 |
| ING Financial Markets, LLC, joint agreement dated 08/29/2025, aggregate maturing value <br> of $400,195,556 (collateralized by equity securities valued at $420,000,006; <br> 0.00%)<sup>(d)</sup> <br>| 4.40% | 09/02/2025 |  | 90044000 | &nbsp;&nbsp; 90000000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**5**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Repurchase**<br> **Amount** | &nbsp;&nbsp; **Repurchase**<br> **Amount** | **Value** |
| J.P. Morgan Securities LLC, open agreement dated 07/17/2024 (collateralized by <br> commercial paper and corporate obligations valued at $192,499,391; 0.00% - <br> 12.50%; 04/30/2026 - 08/30/2033)<sup>(j)</sup> <br>| 4.63% | 09/02/2025 |  | $175720222 | &nbsp;&nbsp; $175000000 |
| Mitsubishi UFJ Trust & Banking Corp., agreement dated 08/29/2025, maturing value of <br> $50,024,667 (collateralized by agency mortgage-backed securities valued at <br> $51,000,000; 4.77% - 5.54%; 09/16/2044 - 04/20/2072)<sup>(d)</sup> <br>| 4.44% | 09/02/2025 |  | 50024667 | &nbsp;&nbsp; 50000000 |
| Mizuho Securities (USA) LLC, joint open agreement dated 05/05/2025 (collateralized by <br> equity securities valued at $84,000,230; 0.00%)<sup>(d)(j)</sup> <br>| 4.48% | 09/02/2025 |  | 30014933 | &nbsp;&nbsp; 30000000 |
| RBC Capital Markets LLC, joint term agreement dated 08/26/2025, aggregate maturing <br> value of $150,131,250 (collateralized by corporate obligations valued at <br> $164,656,880; 0.00% - 12.75%; 09/01/2025 - 10/01/2097)<sup>(d)(i)</sup> <br>| 4.50% | 09/02/2025 |  | 30026250 | &nbsp;&nbsp; 30000000 |
| Societe Generale, open agreement dated 07/17/2024 (collateralized by corporate <br> obligations, non-agency asset-backed securities, non-agency mortgage-backed <br> securities and U.S. Treasury obligations valued at $86,609,925; 0.00% - 13.50%; <br> 09/15/2025 - 08/15/2076)<sup>(d)(j)</sup> <br>| 4.51% | 09/02/2025 |  | 80040089 | &nbsp;&nbsp; 80000000 |
| Standard Chartered Bank, joint agreement dated 08/29/2025, aggregate maturing value <br> of $4,001,924,444 (collateralized by U.S. Treasury obligations valued at <br> $4,081,962,968; 0.00% - 4.88%; 10/02/2025 - 02/15/2054)<br>| 4.33% | 09/02/2025 |  | 1453776621 | &nbsp;&nbsp; 1453077529 |
| TD Securities (USA) LLC, joint term agreement dated 08/26/2025, aggregate maturing <br> value of $250,214,375 (collateralized by corporate obligations valued at <br> $262,504,831; 1.05% - 6.00%; 09/14/2026 - 06/30/2059)<sup>(d)(i)</sup> <br>| 4.41% | 09/02/2025 |  | 50042875 | &nbsp;&nbsp; 50000000 |
| Wells Fargo Securities, LLC, term agreement dated 08/29/2025, maturing value of <br> $278,698,139 (collateralized by corporate obligations, non-agency asset-backed <br> securities and a non-agency mortgage-backed security valued at $294,801,020; <br> 0.00% - 22.00%; 09/01/2025 - 07/15/2060)<br>| 4.94% | 12/05/2025 |  | 278698139 | &nbsp;&nbsp; 275000000 |
| Total Repurchase Agreements (Cost $3,523,077,529) | Total Repurchase Agreements (Cost $3,523,077,529) | Total Repurchase Agreements (Cost $3,523,077,529) | Total Repurchase Agreements (Cost $3,523,077,529) |  | &nbsp;&nbsp; 3523077529 |
| TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) | TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) | TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) | TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) |  | &nbsp;&nbsp; 9768371535 |
| OTHER ASSETS LESS LIABILITIES-(0.71)% | OTHER ASSETS LESS LIABILITIES-(0.71)% | OTHER ASSETS LESS LIABILITIES-(0.71)% | OTHER ASSETS LESS LIABILITIES-(0.71)% |  | &nbsp;&nbsp; (68768937)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% |  | &nbsp;&nbsp; $9699602598 |

---

Investment Abbreviations:

---

| | |
|:---|:---|
| CEP | -Credit Enhancement Provider |
| LOC | -Letter of Credit |
| OBFR | -Overnight Bank Funding Rate |
| RB | -Revenue Bonds |
| SOFR | -Secured Overnight Financing Rate |
| VRD | -Variable Rate Demand |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**6**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

Notes to Schedule of Investments:

<sup>(a)</sup> Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.

<sup>(b)</sup> Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2025.

<sup>(c)</sup> Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at August 31, 2025 was $3,581,610,147, which represented 36.93% of the Fund's Net Assets. 

<sup>(d)</sup> The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: Canada: 17.6%; France: 15.8%; Japan: 9.0%; United Kingdom: 8.0%; Netherlands: 6.3%; other countries less than 5% each: 11.8%. 

<sup>(e)</sup> Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on August 31, 2025. 

<sup>(f)</sup> Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

<sup>(g)</sup> Principal amount equals value at period end. See Note 1J.

<sup>(h)</sup> Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

<sup>(i)</sup> The Fund may demand payment of the term repurchase agreement upon one to seven business days' notice depending on the timing of the demand.

<sup>(j)</sup> Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date. 

<sup>(k)</sup> Also represents cost for federal income tax purposes.

<sup>(l)</sup> Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer's obligations but may be called upon to satisfy the issuer's obligations. No concentration of any single entity was greater than 5% each. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**7**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Statement of Assets and Liabilities**

*August 31, 2025*

---

| | |
|:---|:---|
|  | **Invesco Premier** <br>**Portfolio**<br>|
| **Assets:** | **Assets:** |
| Investments in unaffiliated securities, at value | &nbsp;&nbsp; $6245294006 |
| Repurchase agreements, at value and cost | &nbsp;&nbsp; 3523077529 |
| Cash | &nbsp;&nbsp; 261350 |
| Receivable for: |  |
| Fund shares sold | &nbsp;&nbsp; 29883069 |
| Interest | &nbsp;&nbsp; 16933963 |
| Fund expenses absorbed | &nbsp;&nbsp; 568309 |
| Investment for trustee deferred compensation and retirement plans | &nbsp;&nbsp; 680307 |
| Total assets | &nbsp;&nbsp; 9816698533 |
| **Liabilities:** | **Liabilities:** |
| Payable for: |  |
| Investments purchased | &nbsp;&nbsp; 98959250 |
| Fund shares reacquired | &nbsp;&nbsp; 12993947 |
| Dividends | &nbsp;&nbsp; 2429468 |
| Accrued fees to affiliates | &nbsp;&nbsp; 2032963 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 680307 |
| Total liabilities | &nbsp;&nbsp; 117095935 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $9699602598 |
| **Net assets consist of:** | **Net assets consist of:** |
| Shares of beneficial interest | &nbsp;&nbsp; $9699475127 |
| Distributable earnings (loss) | &nbsp;&nbsp; 127471 |
|  | &nbsp;&nbsp; $9699602598 |
| **Net Assets:** | **Net Assets:** |
| Institutional Class | &nbsp;&nbsp; $9414960740 |
| Investor Class | &nbsp;&nbsp; $283867086 |
| Personal Investment Class | &nbsp;&nbsp; $11835 |
| Private Investment Class | &nbsp;&nbsp; $27694 |
| Reserve Class | &nbsp;&nbsp; $11593 |
| Resource Class | &nbsp;&nbsp; $723650 |
| **Shares outstanding, no par value,** <br>**unlimited number of shares authorized:** | **Shares outstanding, no par value,** <br>**unlimited number of shares authorized:** |
| Institutional Class | &nbsp;&nbsp; 9414516475 |
| Investor Class | &nbsp;&nbsp; 283856455 |
| Personal Investment Class | &nbsp;&nbsp; 11834 |
| Private Investment Class | &nbsp;&nbsp; 27692 |
| Reserve Class | &nbsp;&nbsp; 11592 |
| Resource Class | &nbsp;&nbsp; 723615 |
| Net asset value, offering and redemption price per share for each class | &nbsp;&nbsp; $1.00 |
| Cost of Investments | &nbsp;&nbsp; $9768371535 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**8**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Statement of Operations**

*For the year ended August 31, 2025*

---

| | |
|:---|:---|
|  | **Invesco Premier** <br>**Portfolio**<br>|
| **Investment income:** |  |
| Interest | &nbsp;&nbsp; $407012230 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 21719795 |
| Distribution fees: |  |
| Personal Investment Class | &nbsp;&nbsp; 71880 |
| Private Investment Class | &nbsp;&nbsp; 81 |
| Reserve Class | &nbsp;&nbsp; 99 |
| Resource Class | &nbsp;&nbsp; 1131 |
| Professional services fees | &nbsp;&nbsp; (2968)<br>|
| Total expenses | &nbsp;&nbsp; 21790018 |
| Less: Fees waived | &nbsp;&nbsp; (6081509)<br>|
| Net expenses | &nbsp;&nbsp; 15708509 |
| Net investment income | &nbsp;&nbsp; 391303721 |
| Net realized gain from unaffiliated investment securities | &nbsp;&nbsp; 2356 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $391306077 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**9**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Statement of Changes in Net Assets**

*For the years ended August 31, 2025 and 2024*

---

| | | |
|:---|:---|:---|
|  | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** |
|  | **2025** | **2024** |
| **Operations:** | **Operations:** | **Operations:** |
| Net investment income | &nbsp;&nbsp; $391303721 | &nbsp;&nbsp; $346325123 |
| Net realized gain | &nbsp;&nbsp; 2356 | &nbsp;&nbsp; 20533 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 391306077 | &nbsp;&nbsp; 346345656 |
| **Distributions to shareholders from distributable earnings:** | **Distributions to shareholders from distributable earnings:** | **Distributions to shareholders from distributable earnings:** |
| Institutional Class | &nbsp;&nbsp; (381517915)<br>| &nbsp;&nbsp; (337282614)<br>|
| Investor Class | &nbsp;&nbsp; (9233389)<br>| &nbsp;&nbsp; (8535442)<br>|
| Personal Investment Class | &nbsp;&nbsp; (520037)<br>| &nbsp;&nbsp; (469960)<br>|
| Private Investment Class | &nbsp;&nbsp; (1143)<br>| &nbsp;&nbsp; (1317)<br>|
| Reserve Class | &nbsp;&nbsp; (415)<br>| &nbsp;&nbsp; (494)<br>|
| Resource Class | &nbsp;&nbsp; (30822)<br>| &nbsp;&nbsp; (35296)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (391303721)<br>| &nbsp;&nbsp; (346325123)<br>|
| **Share transactions-net:** | **Share transactions-net:** | **Share transactions-net:** |
| Institutional Class | &nbsp;&nbsp; 1849359762 | &nbsp;&nbsp; 2790848017 |
| Investor Class | &nbsp;&nbsp; 131397110 | &nbsp;&nbsp; (5997098)<br>|
| Personal Investment Class | &nbsp;&nbsp; (13619385)<br>| &nbsp;&nbsp; 6526699 |
| Private Investment Class | &nbsp;&nbsp; 1256 | &nbsp;&nbsp; 1313 |
| Reserve Class | &nbsp;&nbsp; 458 | &nbsp;&nbsp; 494 |
| Resource Class | &nbsp;&nbsp; 33862 | &nbsp;&nbsp; 35168 |
| Net increase in net assets resulting from share transactions | &nbsp;&nbsp; 1967173063 | &nbsp;&nbsp; 2791414593 |
| Net increase in net assets | &nbsp;&nbsp; 1967175419 | &nbsp;&nbsp; 2791435126 |
| **Net assets:** | **Net assets:** | **Net assets:** |
| Beginning of year | &nbsp;&nbsp; 7732427179 | &nbsp;&nbsp; 4940992053 |
| End of year | &nbsp;&nbsp; $9699602598 | &nbsp;&nbsp; $7732427179 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**10**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Financial Highlights**

The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.

**Personal Investment Class** 

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income**<sup>(a)</sup> <br>| **Net gains** <br>**on securities** <br>**(realized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or expense** <br>**reimbursements**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or expense** <br>**reimbursements**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**to average** <br>**net assets**<br>|
| **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** |
| Year ended 08/31/25 | $1.00 | $0.04 | $0.00 | $0.04 | $(0.04)<br>| $1.00 | 4.04<br> %<br>| $12 | 0.73<br> %<br>| 0.80<br> %<br>| 3.95<br> %<br>|
| Year ended 08/31/24 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| 1.00 | 4.96 | 13632 | 0.73 | 0.80 | 4.84 |
| Year ended 08/31/23 | 1.00 | 0.04 | (0.00)<br>| 0.04 | (0.04)<br>| 1.00 | 3.92 | 7105 | 0.73 | 0.80 | 4.07 |
| Year ended 08/31/22 | 1.00 | 0.00 | 0.00 | 0.00 | (0.00)<br>| 1.00 | 0.29 | 7660 | 0.40 | 0.80 | 0.39 |
| Year ended 08/31/21 | 1.00 | 0.00 | 0.00 | 0.00 | (0.00)<br>| 1.00 | 0.01 | 10829 | 0.23 | 0.80 | 0.02 |

---

<sup>(a)</sup> Calculated using average shares outstanding. <br> <sup>(b)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**11**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Notes to Financial Statements**

*August 31, 2025*

**NOTE 1—Significant Accounting Policies**

Invesco Premier Portfolio (the "Fund") is a series of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) (the "Trust"). The Trust is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company consisting of two separate portfolios and authorized to issue an unlimited number of shares of beneficial interest. The assets, liabilities and operations of the portfolio are accounted for separately. Information presented in these financial statements pertains only to the Fund. Matters affecting the portfolio or class will be voted on exclusively by the shareholders of such portfolio or class.

The Fund's investment objective is to provide current income consistent with preservation of capital and liquidity.

The Fund currently consists of six classes of shares: Investor Class, Institutional Class, Private Investment Class, Personal Investment Class, Reserve Class and Resource Class. Investor Class shares of the Fund are available only to certain investors. Each class of shares is sold at net asset value.

The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, Financial Services – Investment Companies.

The Fund is a "retail money market fund" as defined in Rule 2a-7 under the 1940 Act (the "Rule"), and seeks to maintain a stable or constant NAV of $1.00 per share using an amortized cost method of valuation. "Retail money market funds" are required to adopt policies and procedures reasonably designed to limit investments in the Fund to accounts beneficially owned by natural persons.

The Fund may impose a fee upon the sale of shares.

The following is a summary of the significant accounting policies followed by the Fund in the preparation of their financial statements.

**A.** **Security Valuations** — The Fund's securities are recorded on the basis of amortized cost which approximates value as permitted by the Rule. This method values a security at its cost on the date of purchase and, thereafter, assumes a constant amortization to maturity of any premiums or accretion of any discounts.

Securities for which market quotations are not readily available are fair valued by Invesco Advisers, Inc. (the "Adviser" or "Invesco") in accordance with Board-approved policies and related Adviser procedures ("Valuation Procedures"). If a fair value price provided by a pricing service is unreliable in the Adviser's judgment, the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value.

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.

The Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.

**B.** **Securities Transactions and Investment Income** — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on the accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.

The Fund may periodically participate in litigation related to the Fund's investments. As such, the Fund may receive proceeds from litigation settlements involving the Fund's investments. 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 gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the investment adviser.

The Fund allocates realized capital gains and losses to a class based on the relative net assets of the class. The Fund allocates income to a class based on the relative settled shares of the class.

**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, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, 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.** **Distributions** - It is the policy of the Fund to declare dividends from net investment income, if any, daily and pay them monthly. The Fund generally distributes net realized capital gain (including net short-term capital gain), if any, annually.

**E.** **Federal Income Taxes** — The Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Fund's

**12**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

taxable earnings to shareholders. As such, the Fund will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.

The Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

**F.** **Expenses** – Fees provided for under the Rule 12b-1 plan of a particular class of the Fund and which are directly attributable to that class are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative settled shares.

**G.** **Accounting Estimates** - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**H.** **Indemnifications** - Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against such Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**I.** **Segment Reporting** — In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), with the intent of improving reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole, thereby enabling better understanding of how an entity's segments impact overall performance. The Fund represents a single operating segment. Subject to the oversight and, when applicable, approval of the Board of Trustees, the Adviser acts as the Fund's chief operating decision maker ("CODM"), assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements. Adoption of the new standard impacted the Fund's financial statement note disclosures only and did not affect the Fund's financial position or the results of its operations.

**J.** **Repurchase Agreements -** The Fund may enter into repurchase agreements. Collateral on repurchase agreements, including the Fund's pro-rata interest in joint repurchase agreements, is taken into possession by the Fund upon entering into the repurchase agreement. Collateral consisting of U.S. Government Securities and U.S. Government Sponsored Agency Securities is marked to market daily to ensure its market value is typically at least 102% of the sales price of the repurchase agreement. Collateral consisting of non-government securities is marked to market daily to ensure its market value is typically at least 105% of the sales price of the repurchase agreement. The investments in some repurchase agreements, pursuant to procedures approved by the Board of Trustees, are through participation with other mutual funds, private accounts and certain non-registered investment companies managed by the investment advisor or its affiliates ("Joint repurchase agreements"). The principal amount of the repurchase agreement is equal to the value at period-end. If the seller of a repurchase agreement fails to repurchase the security in accordance with the terms of the agreement, the Fund might incur expenses in enforcing its rights, and could experience losses, including a decline in the value of the collateral and loss of income.

**K.** **Other Risks** - The effect on performance from investing in securities issued or guaranteed by companies in the banking and financial services industries will depend to a greater extent on the overall condition of those industries. Financial services companies are highly dependent on the supply of short-term financing. The value of securities of issuers in the banking and financial services industry can be sensitive to changes in government regulation and interest rates and to economic downturns in the United States and abroad.

U.S. dollar-denominated securities carrying foreign credit exposure may be affected by unfavorable political, economic or governmental developments that could affect payments of principal and interest.

**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, the Fund accrues daily and pays monthly an advisory fee to the Adviser at an annual rate of 0.25% of the Fund's average daily net assets. Pursuant to the master investment advisory agreement, the Adviser bears all expenses incurred by the Fund in connection with its operations, except for (1) interest, taxes and extraordinary items such as litigation costs; (2) brokers' commissions, issue and transfer taxes, and other costs chargeable to the Fund in connection with securities transactions to which the Fund is a party or in connection with securities owned by the Fund; and (3) other expenditures which are capitalized in accordance with generally accepted accounting principles applicable to investment companies.

Under the terms of a master sub-advisory agreement between the Adviser to the Fund and each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Inc., Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and a separate sub-advisory agreement with Invesco Capital Management LLC (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Sub-Adviser(s).

The Adviser has contractually agreed, through at least December 31, 2025, to waive advisory fees equal to 0.07% of the average daily net assets of the Fund.

**13**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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For the year ended August 31, 2025, the Adviser waived advisory fees and/or reimbursed Fund expenses in the following amounts:

---

| | |
|:---|:---|
| Invesco Premier Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; $6081509 |

---

The Trust has entered into a master administrative services agreement with Invesco to provide accounting services to the Fund. The Trust has also entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") to provide transfer agency and shareholder services to the Fund. Invesco and IIS do not charge the Fund any fees under these agreements. Also, Invesco has entered into a sub-administration agreement whereby The Bank of New York Mellon ("BNY") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, BNY also serves as the Fund's custodian.

The Trust has entered into master distribution agreements with IDI to serve as the distributor for the Investor Class, Institutional Class, Personal Investment Class, Private Investment Class, Reserve Class and Resource Class shares. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Personal Investment Class, Private Investment Class, Reserve Class and Resource Class shares (collectively, the "Plans"). The Fund, pursuant to the Plans, pays IDI compensation at the annual rate of 0.55% of the Fund's average daily net assets of Personal Investment Class shares, 0.30% of the average daily net assets of Private Investment Class shares, 0.87% of the average daily net assets of Reserve Class shares and 0.16% of the average daily net assets of Resource Class shares. The fees are accrued daily and paid monthly. Of the Plan payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such class. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended August 31, 2025, expenses incurred under the plans are shown in the Statement of Operations as *Distribution fees*.

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

**NOTE 3—Additional Valuation Information**

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

Level 1 — Prices are determined using quoted prices in an active market for identical assets.

Level 2 — Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.

Level 3 — Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Adviser's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

As of August 31, 2025, all of the securities in the Fund were valued based on Level 2 inputs (see the Schedule of Investments for security categories). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

**NOTE 4—Trustees' and Officers' Fees and Benefits**

Remuneration is paid to certain Trustees and Officers of the Trust. Trustees have the option to defer their compensation. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested.

Certain current Trustees were eligible to participate in a retirement plan that provided for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Fund may have certain former Trustees that also participate in a retirement plan and receive benefits under such plan. The Fund's allocable portion of the remuneration paid to the Trustees, including its allocable portion of the fees and benefits of the deferred compensation plan and retirement plan are paid by Invesco and not by the Trust.

**NOTE 5—Cash Balances**

The Fund is permitted to temporarily overdraft or leave balances in its account with BNY, the custodian bank. Such balances, if any at period-end, are shown in the Statement of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate BNY or the Fund for such activity, the Fund may either (1) pay to or receive from BNY compensation at a rate agreed upon by BNY and Invesco, not to exceed the contractually agreed upon rate; or (2) leave funds or overdraft funds as a compensating balance in the account so BNY or the Fund can be compensated for use of funds.

**NOTE 6—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2025 and 2024:</u>** |
|  | **2025** | **2024** |
|  | **Ordinary** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Ordinary** <br>**Income\***<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp; $391303721 | &nbsp;&nbsp;&nbsp;&nbsp; $346325123 |

---

\* Includes short-term capital gain distributions, if any.

**14**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

---

| | | | |
|:---|:---|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Undistributed** <br>**Ordinary** <br>**Income**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Shares of** <br>**Beneficial** <br>**Interest**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Total** <br>**Net Assets**<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; $127471 | &nbsp;&nbsp;&nbsp;&nbsp; $9699475127 | &nbsp;&nbsp;&nbsp;&nbsp; $9699602598 |

---

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Fund to utilize. The ability to utilize capital loss carryforwards in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Fund did not have any capital loss carryforward as of August 31, 2025.

**NOTE 7—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of distributions, on August 31, 2025, amounts were reclassified between undistributed net investment income, undistributed net realized gain (loss) and shares of beneficial interest. These reclassifications had no effect on the net assets of the Fund.

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Undistributed Net** <br>**Investment Income**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Undistributed Net** <br>**Realized Gain (Loss)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Shares of** <br>**Beneficial Interest**<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; $2356 | &nbsp;&nbsp;&nbsp;&nbsp; $(2356)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $- |

---

**NOTE 8—Share Information**

**Invesco Premier Portfolio** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Years ended August 31,** | **Years ended August 31,** | **Years ended August 31,** | **Years ended August 31,** |
|  | **2025**<sup>(a)</sup>  | **2025**<sup>(a)</sup>  | **2024** | **2024** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; 11598875406 | &nbsp;&nbsp;&nbsp; $11598875406 | &nbsp;&nbsp;&nbsp; 9739077117 | &nbsp;&nbsp;&nbsp; $9739077117 |
| Investor Class | &nbsp;&nbsp;&nbsp; 521969267 | &nbsp;&nbsp;&nbsp; 521969267 | &nbsp;&nbsp;&nbsp; 336725771 | &nbsp;&nbsp;&nbsp; 336725771 |
| Personal Investment Class | &nbsp;&nbsp;&nbsp; 13222425 | &nbsp;&nbsp;&nbsp; 13222425 | &nbsp;&nbsp;&nbsp; 24100174 | &nbsp;&nbsp;&nbsp; 24100174 |
| Private Investment Class | &nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| Reserve Class | &nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| Resource Class | &nbsp;&nbsp;&nbsp; 3040 | &nbsp;&nbsp;&nbsp; 3040 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; 381517885 | &nbsp;&nbsp;&nbsp; 381517885 | &nbsp;&nbsp;&nbsp; 299321339 | &nbsp;&nbsp;&nbsp; 299321339 |
| Investor Class | &nbsp;&nbsp;&nbsp; 9226500 | &nbsp;&nbsp;&nbsp; 9226500 | &nbsp;&nbsp;&nbsp; 8507286 | &nbsp;&nbsp;&nbsp; 8507286 |
| Personal Investment Class | &nbsp;&nbsp;&nbsp; 520037 | &nbsp;&nbsp;&nbsp; 520037 | &nbsp;&nbsp;&nbsp; 442533 | &nbsp;&nbsp;&nbsp; 442533 |
| Private Investment Class | &nbsp;&nbsp;&nbsp; 1143 | &nbsp;&nbsp;&nbsp; 1143 | &nbsp;&nbsp;&nbsp; 1313 | &nbsp;&nbsp;&nbsp; 1313 |
| Reserve Class | &nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp; 494 | &nbsp;&nbsp;&nbsp; 494 |
| Resource Class | &nbsp;&nbsp;&nbsp; 30822 | &nbsp;&nbsp;&nbsp; 30822 | &nbsp;&nbsp;&nbsp; 35168 | &nbsp;&nbsp;&nbsp; 35168 |
| **Reacquired:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; (10131033529)<br>| &nbsp;&nbsp;&nbsp; (10131033529)<br>| &nbsp;&nbsp;&nbsp; (7247550439)<br>| &nbsp;&nbsp;&nbsp; (7247550439)<br>|
| Investor Class | &nbsp;&nbsp;&nbsp; (399798657)<br>| &nbsp;&nbsp;&nbsp; (399798657)<br>| &nbsp;&nbsp;&nbsp; (351230155)<br>| &nbsp;&nbsp;&nbsp; (351230155)<br>|
| Personal Investment Class | &nbsp;&nbsp;&nbsp; (27361847)<br>| &nbsp;&nbsp;&nbsp; (27361847)<br>| &nbsp;&nbsp;&nbsp; (18016008)<br>| &nbsp;&nbsp;&nbsp; (18016008)<br>|
| Net increase in share activity | &nbsp;&nbsp;&nbsp; 1967173063 | &nbsp;&nbsp;&nbsp; $1967173063 | &nbsp;&nbsp;&nbsp; 2791414593 | &nbsp;&nbsp;&nbsp; $2791414593 |

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 51% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**15**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) and Shareholders of Invesco Premier Portfolio

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco Premier Portfolio (one of the funds constituting AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust), referred to hereafter as the "Fund") as of August 31, 2025, the related statement of operations for the year ended August 31, 2025, the statement of changes in net assets for each of the two years in the period ended August 31, 2025, including the related notes, and the financial highlights of the Personal Investment Class for each of the five years in the period ended August 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of August 31, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended August 31, 2025 and the financial highlights of the Personal Investment Class for each of the five years in the period ended August 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of August 31, 2025 by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

October 24, 2025

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**16**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Approval of Investment Advisory and Sub-Advisory Contracts**

**(Invesco Premier Portfolio and Invesco Premier U.S. Government Money Portfolio)** 

At meetings held on June 16, 2025, the Board of Trustees (the Board or the Trustees) of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) as a whole, and the independent Trustees, who comprise over 75% of the Board, voting separately, approved the continuance of each series portfolio of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) listed above (each, a Fund) Master Investment Advisory Agreement with Invesco Advisers, Inc. (Invesco Advisers and the investment advisory agreement) and for Invesco Premier Portfolio, the Master Intergroup Sub-Advisory Contract for Mutual Funds with Invesco Asset Management Deutschland GmbH\*, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and a separate sub-advisory contract with Invesco Capital Management LLC (collectively, the Affiliated Sub-Advisers and the sub-advisory contracts) for another year, effective July 1, 2025. After evaluating the factors discussed below, among others, the Board approved the renewal of each Fund's investment advisory agreement and the sub-advisory contracts and determined that the compensation payable thereunder by each Fund to Invesco Advisers and by Invesco Advisers to the Affiliated Sub-Advisers is fair and reasonable.&nbsp;&nbsp;&nbsp;&nbsp;

**The Board's Evaluation Process**

The Board has established an Investments Committee, which in turn has established Sub-Committees. The Sub-Committees meet regularly throughout the year with portfolio managers and other members of management to review information about the investment performance and portfolio attributes for those funds advised by Invesco Advisers (Invesco Funds) assigned to them. The Board has established additional standing and ad hoc committees that meet throughout the year to review matters within their purview, including a working group focused on opportunities to make ongoing and continuous improvements to the Board's annual review process for the Invesco Funds' investment advisory agreement and sub-advisory contracts (the annual review process). In considering whether to approve each Invesco Fund's investment advisory agreement and sub-advisory contracts, the Board took into account evaluations and reports that it received from its committees and sub-committees, as well as the information provided to the Board and its committees and sub-committees throughout the year.

As part of the annual review process, the Board reviews and considers information provided in response to requests for

information submitted to management by the independent Trustees with assistance from legal counsel to the independent Trustees (independent legal counsel) and the Senior Officer, an officer of the Invesco Funds who reports directly to the independent Trustees. The Board receives comparative investment performance and fee and expense data regarding the Invesco Funds prepared by Broadridge Financial Solutions, Inc. (Broadridge), an independent provider of investment company data, as well as information on the composition of the peer groups and its methodology for determining peer groups. The Board also receives an independent written evaluation from the Senior Officer. The Senior Officer's evaluation is prepared as part of his responsibility to manage the process by which the Invesco Funds' proposed management fees are negotiated during the annual review process to ensure they are negotiated in a manner that is at arms' length and reasonable in accordance with certain negotiated regulatory requirements. In addition to meetings with Invesco Advisers and fund counsel throughout the year and as part of meetings convened on May 6, 2025 and June 16-18, 2025, the independent Trustees also discussed the continuance of the investment advisory agreement and sub-advisory contracts in separate sessions with the Senior Officer and with independent legal counsel. The discussion below includes summary information drawn in part from the Senior Officer's independent written evaluation with respect to the Fund's investment advisory agreement and sub-advisory contracts, as well as a discussion of the material factors and related conclusions that formed the basis for the Board's approval of each Fund's investment advisory agreement and Invesco Premier Portfolio's sub-advisory contracts. The Trustees' review and conclusions are based on the comprehensive consideration of all information presented to them during the course of the year and are not the result of any single determinative factor. Moreover, one Trustee may have weighed a particular piece of information or factor differently than another Trustee.

**Factors and Conclusions and Summary of Independent Written Fee Evaluation**

*A.* *Nature, Extent and Quality of Services Provided by Invesco Advisers and the Affiliated Sub-Advisers*

The Board reviewed the nature, extent and quality of the advisory services provided to each Fund by Invesco Advisers under each Fund's investment advisory agreement, and the credentials and experience of the officers and employees of Invesco Advisers who provide these services, including each Fund's portfolio

manager(s). The Board's review included consideration of Invesco Advisers' investment process and oversight, credit analysis, and research capabilities. The Board considered information regarding Invesco Advisers' programs for and resources devoted to risk management, including management of investment, enterprise, operational, liquidity, derivatives, valuation and compliance risks, and technology used to manage such risks. The Board received information regarding Invesco's methodology for compensating its investment professionals and the incentives and accountability it creates, as well as how it impacts Invesco's ability to attract and retain talent. The Board considered that Invesco Advisers has shown the willingness to commit resources to support investment in the business and to remain well-positioned to serve Fund shareholders including with regard to attracting and retaining qualified personnel on its investment teams and investing in technology. The Board received a description of, and reports related to, Invesco Advisers' global security program and business continuity plans and of its approach to data privacy and cybersecurity, including related testing. The Board also considered non-advisory services that Invesco Advisers and its affiliates provide to the Invesco Funds, such as various middle office and back office support functions, third party oversight, internal audit, valuation, portfolio trading and legal and compliance. The Board considered Invesco Advisers' systems preparedness and ongoing investment to seek to manage, operate and oversee the Invesco Funds with minimal impact or disruption through challenging environments. The Board reviewed and considered the benefits to shareholders of investing in a Fund that is part of the family of funds under the umbrella of Invesco Ltd., Invesco Advisers' parent company, and noted Invesco Ltd.'s depth and experience in running an investment management business, as well as its commitment of financial and other resources to such business. The Board concluded that the nature, extent and quality of the services provided to each Fund by Invesco Advisers supported the renewal of the investment advisory agreement.

**INVESCO PREMIER PORTFOLIO**

The Board reviewed the services that may be provided to the Fund by the Affiliated Sub-Advisers under the sub-advisory contracts and the credentials and experience of the officers and employees of the Affiliated Sub-Advisers who provide these services. The Board noted the Affiliated Sub-Advisers' expertise with respect to certain asset classes and that the Affiliated Sub-Advisers have offices

**17**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

and personnel that are located in financial centers around the world. As a result, the Board noted that the Affiliated Sub-Advisers can provide research and investment analysis on the markets and economies of various countries and territories in which the Fund may invest, make recommendations regarding securities and assist with portfolio trading. The Board concluded that the sub-advisory contracts may benefit the Fund and its shareholders by permitting Invesco Advisers to use the resources and talents of the Affiliated Sub-Advisers in managing the Fund. The Board concluded that the nature, extent and quality of the services that may be provided to the Fund by the Affiliated Sub-Advisers supported the renewal of the sub-advisory contracts.

**INVESCO PREMIER U.S. GOVERNMENT MONEY PORTFOLIO**

The Board reviewed and considered the benefits to shareholders of investing in a Fund that is part of the Invesco family of funds under the umbrella of Invesco Ltd., Invesco Advisers' parent company, and noted Invesco Ltd.'s depth and experience in conducting an investment management business, as well as its commitment of financial and other resources to such business. The Board also reviewed and considered information regarding the benefits to the Fund resulting from Invesco Ltd.'s acquisition of OppenheimerFunds, Inc. and its subsidiaries (the Transaction) and the resources that Invesco Advisers has committed to managing the Invesco family of funds following the Transaction. The Board concluded that the nature, extent and quality of the services provided to the Fund by Invesco Advisers supported the renewal of the investment advisory agreement.

*B.* *Fund Investment Performance*

**INVESCO PREMIER PORTFOLIO**

The Board considered Fund investment performance as a relevant factor in considering whether to approve the investment advisory agreement. The Board did not view Fund investment performance as a relevant factor in considering whether to approve the sub-advisory contracts for the Fund, as no Affiliated Sub-Adviser currently manages assets of the Fund.

The Board compared the Fund's investment performance over multiple time periods ending December 31, 2024 to the performance of funds in the Broadridge performance universe and against the iMoneyNet First Tier Institutional Funds Category (Index). The Board noted that performance of Investor Class shares of the Fund was in the first quintile of its performance universe for the one, three and five year periods (the first quintile being the best performing funds on a relative basis and the fifth quintile being the worst performing funds on a relative basis). The Board noted that performance of Investor Class shares of the Fund was above the performance of the Index for the one, three and

five year periods. The Board recognized that the performance data reflects a snapshot in time as of a particular date and that selecting a different performance period could produce different results. The Board also reviewed more recent Fund performance as well as other performance metrics, which did not change its conclusions.

**INVESCO PREMIER U.S. GOVERNMENT MONEY PORTFOLIO**

The Board considered Fund investment performance as a relevant factor in considering whether to approve the investment advisory agreement.

The Board compared the Fund's investment performance over multiple time periods ending December 31, 2024 to the performance of funds in the Broadridge performance universe and against the iMoneyNet Government Institutional Funds Category (Index). The Board noted that performance of Investor Class shares of the Fund was in the first quintile of its performance universe for the one, three and five year periods (the first quintile being the best performing funds on a relative basis and the fifth quintile being the worst performing funds on a relative basis). The Board noted that performance of Investor Class shares of the Fund was above the performance of the Index for the one, three and five year periods. The Board recognized that the performance data reflects a snapshot in time as of a particular date and that selecting a different performance period could produce different results. The Board also reviewed more recent Fund performance as well as other performance metrics, which did not change its conclusions.

*C.* *Advisory and Sub-Advisory Fees and Fund Expenses*

**INVESCO PREMIER PORTFOLIO**

The Board received information regarding Invesco Advisers' approach with respect to contractual management fee schedules and compared the Fund's contractual management fee rate to the contractual management fee rates of funds in the Fund's Broadridge expense group. The Board noted that the contractual management and actual management fee rates for Investor Class shares of the Fund were each reasonably comparable to the median contractual management and actual management fee rates of funds in its expense group. The Board noted that the term "contractual management fee" and "actual management fee" for funds in the expense group may include both advisory and certain non-portfolio management administrative services fees, but that Broadridge is not able to provide information on a fund-by-fund basis as to what is included. The Board also reviewed the methodology used by Broadridge in calculating expense group information, which includes using each fund's contractual management fee schedule (including any applicable breakpoints) as reported in the most

recent prospectus or statement of additional information for each fund in the expense group. The Board also considered comparative information regarding the Fund's total expense ratio and its various components. The Board noted that the Fund differs from the other Invesco Funds in that it pays "all-inclusive" unitary advisory fees that cover various Fund operating expenses.

The Board noted that Invesco Advisers has contractually agreed to waive advisory fees of the Fund in an amount and for the term disclosed in the Fund's registration statement. The Board further noted that Invesco Advisers has voluntarily undertaken to waive fees to the extent necessary to assist the Fund in attempting to maintain a positive yield.

The Board also considered the fees charged by Invesco Advisers and its affiliates to other client accounts that are similarly managed. Invesco Advisers reviewed with the Board differences in the scope of services it provides to the Invesco Funds relative to that provided by Invesco Advisers and its affiliates to certain other types of client accounts, including, among others: management of cash flows as a result of redemptions and purchases; necessary infrastructure such as officers, office space, technology, legal and distribution; oversight of service providers; costs and business risks associated with launching new funds and sponsoring and maintaining the product line; and compliance with federal and state laws and regulations. Invesco Advisers also advised the Board that many of the similarly managed client accounts have all-inclusive fee structures, which are not easily un-bundled.

The Board also compared the Fund's advisory fee rate before the application of advisory fee waivers/expense limitations to the effective advisory fee rates before the application of advisory fee waivers/expense limitations of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2024.

The Board also considered the services that may be provided by the Affiliated Sub-Advisers pursuant to the sub-advisory contracts, as well as the fees payable by Invesco Advisers to the Affiliated Sub-Advisers pursuant to the sub-advisory contracts.

**INVESCO PREMIER U.S. GOVERNMENT MONEY PORTFOLIO**

The Board received information regarding Invesco Advisers' approach with respect to contractual management fee schedules and compared the Fund's contractual management fee rate to the contractual management fee rates of funds in the Fund's Broadridge expense group. The Board noted that the contractual management and actual management fee rates for Investor Class shares of the Fund were above and reasonably comparable to, respectively, the median contractual management and actual

**18**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

management fee rates of funds in its expense group. The Board noted that the term "contractual management fee" and "actual management fee" for funds in the expense group may include both advisory and certain non-portfolio management administrative services fees, but that Broadridge is not able to provide information on a fund-by-fund basis as to what is included. The Board also reviewed the methodology used by Broadridge in calculating expense group information, which includes using each fund's contractual management fee schedule (including any applicable breakpoints) as reported in the most recent prospectus or statement of additional information for each fund in the expense group. The Board also considered comparative information regarding the Fund's total expense ratio and its various components. The Board noted that the Fund differs from the other Invesco Funds in that it pays "all-inclusive" unitary advisory fees that cover various Fund operating expenses. The Board noted that the Fund's, contractual management fees were in the fourth quintile of its expense group and discussed with management reasons for such relative contractual management fees.

The Board noted that Invesco Advisers has contractually agreed to waive advisory fees of the Fund in an amount and for the term disclosed in the Fund's registration statement. The Board further noted that Invesco Advisers has voluntarily undertaken to waive fees to the extent necessary to assist the Fund in attempting to maintain a positive yield.

The Board also considered the fees charged by Invesco Advisers and its affiliates to other client accounts that are similarly managed. Invesco Advisers reviewed with the Board differences in the scope of services it provides to the Invesco Funds relative to that provided by Invesco Advisers and its affiliates to certain other types of client accounts, including, among others: management of cash flows as a result of redemptions and purchases; necessary infrastructure such as officers, office space, technology, legal and distribution; oversight of service providers; costs and business risks associated with launching new funds and sponsoring and maintaining the product line; and compliance with federal and state laws and regulations. Invesco Advisers also advised the Board that many of the similarly managed client accounts have all-inclusive fee structures, which are not easily un-bundled.

The Board also compared the Fund's advisory fee rate before the application of advisory fee waivers/expense limitations to the effective advisory fee rates before the application of advisory fee waivers/expense limitations of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2024.

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

*D.* *Economies of Scale and Breakpoints*

The Board considered the extent to which there may be economies of scale in the provision of advisory services to each Fund and the Invesco Funds, and the extent to which such economies of scale are shared with each Fund and the Invesco Funds. The Board acknowledged the limitations in calculating and measuring economies of scale at the individual fund level; noting that only indicative and estimated measures are available at the individual fund level and that such measures are subject to uncertainty. The Board noted that each Fund does not benefit from economies of scale through contractual breakpoints, but does share in economies of scale through Invesco Advisers' ability to negotiate lower fee arrangements with third party service providers. The Board noted that each Fund may also benefit from economies of scale through initial fee setting, fee waivers and expense reimbursements, as well as Invesco Advisers' management of significant assets and investment in its business, including investments in business infrastructure, technology and cybersecurity.

*E.* *Profitability and Financial Resources*

The Board reviewed information from Invesco Advisers concerning the costs of the advisory and other services that Invesco Advisers and its affiliates provide to each Fund and the Invesco Funds and the profitability of Invesco Advisers and its affiliates in providing these services in the aggregate and on an individual fund-by-fund basis. The Board considered the methodology used for calculating profitability and the periodic review and enhancement of such methodology. The Board noted that Invesco Advisers continues to operate at a net profit from services Invesco Advisers and its affiliates provide to the Invesco Funds in the aggregate and to most Invesco Funds individually. The Board considered that profits to Invesco Advisers can vary significantly depending on the particular Invesco Fund, with some Invesco Funds showing indicative losses to Invesco Advisers and others showing indicative profits at healthy levels, and that Invesco Advisers' support for and commitment to an Invesco Fund are not, however, solely dependent on the profits attributed to such Fund. The Board did not deem the level of profits realized by Invesco Advisers and its affiliates from providing such services to be excessive, given the nature, extent and quality of the services provided. The Board noted that Invesco Advisers provided information demonstrating that Invesco Advisers is financially sound and has the resources necessary to perform its obligations under the investment advisory agreement, and provided representations indicating that the Affiliated Sub-Advisers are financially sound and have the resources necessary to perform their obligations under the sub-advisory contracts. The Board noted the cyclical and competitive

nature of the global asset management industry.&nbsp;&nbsp;&nbsp;&nbsp;

*F.* *Collateral Benefits to Invesco Advisers and its Affiliates*

The Board considered various other benefits received by Invesco Advisers and its affiliates from the relationship with each Fund, including the fees received for providing administrative, transfer agency and distribution services to each Fund. The Board received comparative information regarding fees charged for these services, including information provided by Broadridge and other independent sources. The Board reviewed the performance of Invesco Advisers and its affiliates in providing these services and the organizational structure employed to provide these services. The Board noted that these services are provided to each Fund pursuant to written contracts that are reviewed and subject to approval on an annual basis by the Board based on its reasonable business judgement and in accordance with applicable regulatory guidance.

\*Effective as of August 29, 2025, Invesco Asset Management Deutschland GmbH merged into Invesco Management S.A.

**19**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year-end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for their fiscal year ended August 31, 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Federal and State Income Tax** |  |  |  |  |  |
|  | **Business Interest** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Qualified Business** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Qualified Dividend** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Corporate** <br>**Dividends** <br>**Received** <br>**Deduction\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **U.S Treasury** <br>**Obligations\***<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp; 99.93% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

---

| | | |
|:---|:---|:---|
| **Non-Resident Alien Shareholders** |  |  |
|  | **Qualified** <br>**Short-Term Gains**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Qualified** <br>**Interest Income\*\***<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp; $2356 | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% |

---

\*\*

The above percentages are based on income dividends paid to shareholders during the Fund's fiscal year.

**20**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

The statement regarding basis for approval of investment advisory contracts can be found in the Approval of Investment Advisory and Sub-Advisory Contracts section of this report.

**21**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

![](imgb2c8a0581.jpg)

SEC file numbers: 811-05460 and 033-19862

Invesco Distributors, Inc.

CM-I-TST-NCSR-PER

------

![](imga3f2d3281.jpg)

------

**Annual Financial Statements and Other Information**

**August 31, 2025**

**Private Investment Class**

**AIM Treasurer's Series Trust**

**(Invesco Treasurer's Series Trust)**

Invesco Premier Portfolio

------

---

| | |
|:---|:---|
| [2](#xx_ea81f00f-8f5e-4b9e-9af1-5f145466b1ed_SOI-Continued-479_1) | Schedule of Investments |
| [8](#xx_ea81f00f-8f5e-4b9e-9af1-5f145466b1ed_FS-Continued-479_1) | Financial Statements |
| [11](#xx_ea81f00f-8f5e-4b9e-9af1-5f145466b1ed_FS-Continued-479_4) | Financial Highlights |
| [12](#xx_ea81f00f-8f5e-4b9e-9af1-5f145466b1ed_NTF-Continued-479_1) | Notes to Financial Statements |
| [16](#xx_ea81f00f-8f5e-4b9e-9af1-5f145466b1ed_RIR-Continued-479_1) | Report of Independent Registered Public Accounting Firm |
| [17](#xx_ea81f00f-8f5e-4b9e-9af1-5f145466b1ed_AOC-Continued-479_1) | Approval of Investment Advisory and Sub-Advisory Contracts |
| [20](#xx_ea81f00f-8f5e-4b9e-9af1-5f145466b1ed_TI-Continued-479_1) | Tax Information |
| [21](#xx_ea81f00f-8f5e-4b9e-9af1-5f145466b1ed_OIRSR-Continued-479_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments**

*August 31, 2025*

**Invesco Premier Portfolio**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  |
| **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** |
| BofA Securities, Inc. (SOFR + 0.43%)<sup>(b)</sup> <br>| 4.85% | 04/29/2026 | $25000 | &nbsp;&nbsp; $25000000 |
| BofA Securities, Inc. | 4.25% | 05/06/2026 | 50000 | &nbsp;&nbsp; 48586611 |
| BofA Securities, Inc. | 4.24% | 05/21/2026 | 10000 | &nbsp;&nbsp; 9700884 |
|  |  |  |  | &nbsp;&nbsp; 83287495 |
| **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** |
| Old Line Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.41% | 12/01/2025 | 50000 | &nbsp;&nbsp; 49456528 |
| Old Line Funding LLC (CEP-Royal Bank of Canada) (SOFR + 0.34%)<sup>(b)(c)(d)</sup> <br>| 4.76% | 06/04/2026 | 35000 | &nbsp;&nbsp; 35000000 |
| Old Line Funding LLC (CEP - Royal Bank of Canada) (SOFR + 0.35%)<sup>(b)(c)(d)</sup> <br>| 4.74% | 07/02/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Old Line Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.33% | 07/17/2026 | 50000 | &nbsp;&nbsp; 48161319 |
| Old Line Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.20% | 08/14/2026 | 40000 | &nbsp;&nbsp; 38446211 |
| Thunder Bay Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.20% | 08/14/2026 | 50000 | &nbsp;&nbsp; 48057764 |
|  |  |  |  | &nbsp;&nbsp; 269121822 |
| **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** |
| Atlantic Asset Securitization LLC (CEP-Credit Agricole Corporate & Investment Bank <br> S.A.)<sup>(c)(d)</sup> <br>| 4.43% | 01/21/2026 | 40000 | &nbsp;&nbsp; 39316822 |
| **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** |
| Anglesea Funding LLC (Multi-CEP's) (01 mo. OBFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.65% | 01/26/2026 | 80000 | &nbsp;&nbsp; 80000000 |
| Anglesea Funding LLC (Multi-CEP's) (01 mo. OBFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.70% | 02/11/2026 | 80000 | &nbsp;&nbsp; 80000000 |
| Anglesea Funding LLC (Multi-CEP's) (01 mo. OBFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.64% | 02/24/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Concord Minutemen Capital Co. LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.35% | 11/25/2025 | 61760 | &nbsp;&nbsp; 61132965 |
| Lexington Parker Capital Co. LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.35% | 09/02/2025 | 134132 | &nbsp;&nbsp; 134115792 |
| Mont Blanc Capital Corp. (CEP-ING Bank N.V.)<sup>(c)(d)</sup> <br>| 4.31% | 12/15/2025 | 30000 | &nbsp;&nbsp; 29628125 |
| Mountcliff Funding LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.49% | 09/04/2025 | 50000 | &nbsp;&nbsp; 49981500 |
| Mountcliff Funding LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.39% | 11/07/2025 | 100000 | &nbsp;&nbsp; 99190417 |
| Versailles Commercial Paper LLC (CEP-Natixis SA) (SOFR + 0.18%)<sup>(b)(c)(d)</sup> <br>| 4.60% | 10/22/2025 | 100000 | &nbsp;&nbsp; 100000000 |
|  |  |  |  | &nbsp;&nbsp; 684048799 |
| **Consumer Finance-0.51%** | **Consumer Finance-0.51%** | **Consumer Finance-0.51%** | **Consumer Finance-0.51%** | **Consumer Finance-0.51%** |
| Toyota Motor Credit Corp.<sup>(d)</sup> <br>| 4.45% | 12/04/2025 | 50000 | &nbsp;&nbsp; 49428167 |
| **Diversified Banks-16.13%** | **Diversified Banks-16.13%** | **Diversified Banks-16.13%** | **Diversified Banks-16.13%** | **Diversified Banks-16.13%** |
| ANZ New Zealand Int'l Ltd. (United Kingdom)<sup>(c)(d)</sup> <br>| 4.14% | 03/02/2026 | 50000 | &nbsp;&nbsp; 48959250 |
| Australia & New Zealand Banking Group Ltd. (Australia)<sup>(c)(d)</sup> <br>| 4.21% | 02/23/2026 | 65000 | &nbsp;&nbsp; 63696615 |
| Bank of New York Mellon (The) (SOFR + 0.18%)<sup>(b)</sup> <br>| 4.84% | 09/30/2025 | 60100 | &nbsp;&nbsp; 60100000 |
| Barclays Bank PLC (SOFR + 0.20%)<sup>(b)(c)(d)</sup> <br>| 4.69% | 09/12/2025 | 50000 | &nbsp;&nbsp; 50000000 |
| Barclays Bank PLC<sup>(c)(d)</sup> <br>| 4.50% | 11/17/2025 | 75000 | &nbsp;&nbsp; 74294166 |
| Barclays Bank PLC (SOFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.66% | 01/06/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| Barclays Bank PLC<sup>(c)(d)</sup> <br>| 4.29% | 02/20/2026 | 30000 | &nbsp;&nbsp; 29398000 |
| BNG Bank N.V. (Netherlands)<sup>(c)(d)</sup> <br>| 4.33% | 09/04/2025 | 200000 | &nbsp;&nbsp; 199927833 |
| Citigroup Global Markets, Inc.<sup>(c)</sup> <br>| 4.63% | 11/14/2025 | 25000 | &nbsp;&nbsp; 24772861 |
| Citigroup Global Markets, Inc. (SOFR + 0.22%)<sup>(b)(c)</sup> <br>| 4.65% | 12/19/2025 | 55000 | &nbsp;&nbsp; 55000000 |
| Citigroup Global Markets, Inc.<sup>(c)</sup> <br>| 4.37% | 05/14/2026 | 25000 | &nbsp;&nbsp; 24258021 |
| Citigroup Global Markets, Inc. (SOFR + 0.34%)<sup>(b)(c)</sup> <br>| 4.75% | 06/17/2026 | 75000 | &nbsp;&nbsp; 75000000 |
| Dexia S.A. (France)<sup>(c)(d)</sup> <br>| 4.39% | 10/23/2025 | 50000 | &nbsp;&nbsp; 49686556 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**2**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Diversified Banks-(continued)** | **Diversified Banks-(continued)** | **Diversified Banks-(continued)** | **Diversified Banks-(continued)** | **Diversified Banks-(continued)** |
| DNB Bank ASA (Norway)<sup>(c)(d)</sup> <br>| 4.59% | 11/12/2025 | $10000 | &nbsp;&nbsp; $9912200 |
| DNB Bank ASA (Norway)<sup>(c)(d)</sup> <br>| 4.33% | 04/20/2026 | 50000 | &nbsp;&nbsp; 48655708 |
| DNB Bank ASA (Norway)<sup>(c)(d)</sup> <br>| 4.27% | 07/07/2026 | 40000 | &nbsp;&nbsp; 38592333 |
| HSBC Bank PLC (SOFR + 0.36%) (United Kingdom)<sup>(b)(c)(d)</sup> <br>| 4.87% | 09/11/2025 | 25000 | &nbsp;&nbsp; 25000000 |
| HSBC Bank PLC (SOFR + 0.36%) (United Kingdom)<sup>(b)(c)(d)</sup> <br>| 4.89% | 09/25/2025 | 50000 | &nbsp;&nbsp; 49999666 |
| ING (US) Funding LLC<sup>(c)(d)</sup> <br>| 4.50% | 10/07/2025 | 50000 | &nbsp;&nbsp; 49785000 |
| ING (US) Funding LLC (SOFR + 0.24%)<sup>(b)(c)(d)</sup> <br>| 4.60% | 10/24/2025 | 51000 | &nbsp;&nbsp; 51000000 |
| ING US Funding LLC (SOFR + 0.33%)<sup>(b)(c)(d)</sup> <br>| 4.77% | 12/18/2025 | 25000 | &nbsp;&nbsp; 25000000 |
| ING US Funding LLC (SOFR + 0.26%)<sup>(b)(c)(d)</sup> <br>| 4.64% | 03/09/2026 | 25000 | &nbsp;&nbsp; 24997394 |
| ING US Funding LLC<sup>(c)(d)</sup> <br>| 4.43% | 05/01/2026 | 40000 | &nbsp;&nbsp; 38846467 |
| Lloyds Bank PLC (United Kingdom)<sup>(d)</sup> <br>| 4.24% | 02/09/2026 | 51445 | &nbsp;&nbsp; 50490195 |
| Lloyds Bank PLC (United Kingdom)<sup>(d)</sup> <br>| 4.24% | 02/11/2026 | 49600 | &nbsp;&nbsp; 48668002 |
| Lloyds Bank PLC (United Kingdom)<sup>(c)(d)</sup> <br>| 4.35% | 04/24/2026 | 50000 | &nbsp;&nbsp; 48625903 |
| National Australia Bank Ltd. (SOFR + 0.20%) (Australia)<sup>(b)(c)(d)</sup> <br>| 4.59% | 11/03/2025 | 75000 | &nbsp;&nbsp; 75000000 |
| Skandinaviska Enskilda Banken AB (Sweden)<sup>(c)(d)</sup> <br>| 4.50% | 10/29/2025 | 50000 | &nbsp;&nbsp; 49653611 |
| UBS AG (SOFR + 0.38%)<sup>(b)(c)(d)</sup> <br>| 4.78% | 05/15/2026 | 25000 | &nbsp;&nbsp; 25000000 |
| Westpac Banking Corp. (SOFR + 0.33%) (Australia)<sup>(b)(c)(d)</sup> <br>| 4.83% | 09/04/2025 | 50000 | &nbsp;&nbsp; 50000000 |
|  |  |  |  | &nbsp;&nbsp; 1564319781 |
| **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** |
| Collateralized Commercial Paper V Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.28%)<sup>(b)</sup> <br>| 4.72% | 12/16/2025 | 25000 | &nbsp;&nbsp; 25000000 |
| Collateralized Commercial Paper V Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.29%)<sup>(b)</sup> <br>| 4.74% | 02/09/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Collateralized Commercial Paper V Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.30%)<sup>(b)</sup> <br>| 4.71% | 03/10/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Endeavour Funding Co. LLC (CEP-HSBC Bank PLC)<sup>(c)(d)</sup> <br>| 4.38% | 09/02/2025 | 50000 | &nbsp;&nbsp; 49993917 |
| Great Bear Funding LLC (CEP - Bank of Nova Scotia) (01 mo. OBFR + 0.23%)<sup>(b)(d)</sup> <br>| 4.69% | 02/23/2026 | 95000 | &nbsp;&nbsp; 95000000 |
| Great Bear Funding LLC (CEP - Bank of Nova Scotia) (01 mo. OBFR + 0.26%)<sup>(b)(d)</sup> <br>| 4.64% | 04/30/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Lion Bay Funding LLC (Multi-CEP's) (SOFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.72% | 12/15/2025 | 50000 | &nbsp;&nbsp; 50000000 |
| Mackinac Funding Co. LLC (CEP-BNP Paribas SA)<sup>(c)(d)</sup> <br>| 4.48% | 09/04/2025 | 75000 | &nbsp;&nbsp; 74972312 |
| Park Avenue Collateralized Notes Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.36%)<sup>(b)(c)</sup> <br>| 4.83% | 01/27/2026 | 25000 | &nbsp;&nbsp; 25000000 |
| UBS AG<sup>(c)(d)</sup> <br>| 4.47% | 10/08/2025 | 25000 | &nbsp;&nbsp; 24890028 |
| UBS AG (SOFR + 0.39%)<sup>(b)(c)(d)</sup> <br>| 4.82% | 12/01/2025 | 50000 | &nbsp;&nbsp; 50000000 |
| UBS AG (SOFR + 0.39%)<sup>(b)(c)(d)</sup> <br>| 4.85% | 01/02/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| UBS AG (SOFR + 0.32%)<sup>(b)(c)(d)</sup> <br>| 4.73% | 03/02/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| UBS AG (SOFR + 0.37%)<sup>(b)(c)(d)</sup> <br>| 4.79% | 06/17/2026 | 35000 | &nbsp;&nbsp; 35000000 |
|  |  |  |  | &nbsp;&nbsp; 729856257 |
| **Regional Banks-2.06%** | **Regional Banks-2.06%** | **Regional Banks-2.06%** | **Regional Banks-2.06%** | **Regional Banks-2.06%** |
| ASB Bank Ltd. (SOFR + 0.35%) (New Zealand)<sup>(b)(c)(d)</sup> <br>| 4.79% | 02/17/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| ASB Bank Ltd. (SOFR + 0.32%) (New Zealand)<sup>(b)(c)(d)</sup> <br>| 4.78% | 02/27/2026 | 100000 | &nbsp;&nbsp; 100000000 |
|  |  |  |  | &nbsp;&nbsp; 200000000 |
| **Specialized Finance-5.60%** | **Specialized Finance-5.60%** | **Specialized Finance-5.60%** | **Specialized Finance-5.60%** | **Specialized Finance-5.60%** |
| Aquitaine Funding Co. LLC (CEP-Societe Generale S.A.)<sup>(c)(d)</sup> <br>| 4.40% | 09/02/2025 | 200000 | &nbsp;&nbsp; 199975555 |
| Aquitaine Funding Co. LLC (CEP-Societe Generale S.A.)<sup>(c)(d)</sup> <br>| 4.50% | 09/03/2025 | 100000 | &nbsp;&nbsp; 99975278 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**3**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** |
| Cabot Trail Funding LLC (CEP-Toronto-Dominion Bank) (SOFR + 0.18%)<sup>(b)(d)</sup> <br>| 4.67% | 09/05/2025 |  | $30000 | &nbsp;&nbsp; $30000000 |
| CDP Financial, Inc. (Canada)<sup>(c)(d)</sup> <br>| 4.51% | 01/08/2026 |  | 50000 | &nbsp;&nbsp; 49227792 |
| CDP Financial, Inc. (Canada)<sup>(c)(d)</sup> <br>| 4.53% | 02/03/2026 |  | 65000 | &nbsp;&nbsp; 63788201 |
| Concord Minutemen Capital Co. LLC (CEP-Goldman Sachs International) (SOFR + 0.30%)<sup>(b)(c)</sup> <br>| 4.65% | 12/23/2025 |  | 35000 | &nbsp;&nbsp; 35000000 |
| Concord Minutemen Capital Co. LLC (CEP-Goldman Sachs International)<sup>(c)</sup> <br>| 4.33% | 02/25/2026 |  | 15000 | &nbsp;&nbsp; 14688037 |
| Podium Funding Trust (CEP-Bank of Montreal) (SOFR + 0.34%) (Canada)<sup>(b)(d)</sup> <br>| 4.69% | 03/05/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
|  |  |  |  |  | &nbsp;&nbsp; 542654863 |
| Total Commercial Paper (Cost $4,162,034,006) | Total Commercial Paper (Cost $4,162,034,006) | Total Commercial Paper (Cost $4,162,034,006) | Total Commercial Paper (Cost $4,162,034,006) |  | &nbsp;&nbsp; 4162034006 |
| **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** |
| Australia & New Zealand Banking Group Ltd. (Cayman Islands)<sup>(d)</sup> <br>| 4.32% | 09/02/2025 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Bank of America N.A. | 4.49% | 01/07/2026 |  | 75000 | &nbsp;&nbsp; 75000000 |
| Bank of America N.A. | 4.24% | 03/02/2026 |  | 25000 | &nbsp;&nbsp; 25000000 |
| Bank of America N.A. (SOFR + 0.34%)<sup>(b)</sup> <br>| 4.70% | 04/27/2026 |  | 80000 | &nbsp;&nbsp; 80000000 |
| Barclays Bank PLC (SOFR + 0.35%) (United Kingdom)<sup>(b)(d)</sup> <br>| 4.69% | 10/15/2025 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Canadian Imperial Bank of Commerce (Canada)<sup>(d)</sup> <br>| 4.32% | 09/02/2025 |  | 90000 | &nbsp;&nbsp; 90000000 |
| Canadian Imperial Bank of Commerce (SOFR + 0.36%) (Canada)<sup>(b)(d)</sup> <br>| 4.70% | 11/17/2025 |  | 41000 | &nbsp;&nbsp; 41000000 |
| Canadian Imperial Bank of Commerce (SOFR + 0.40%) (Canada)<sup>(b)(d)</sup> <br>| 4.74% | 09/08/2026 |  | 80000 | &nbsp;&nbsp; 80000000 |
| Citibank N.A. (SOFR + 0.35%)<sup>(b)</sup> <br>| 4.69% | 10/27/2025 |  | 75000 | &nbsp;&nbsp; 75000000 |
| Cooperatieve Rabobank U.A. (Cayman Islands)<sup>(d)</sup> <br>| 4.32% | 09/02/2025 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Credit Agricole Corporate and Investment Bank<sup>(d)</sup> <br>| 4.34% | 04/30/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Credit Agricole Corporate And Investment Bank<sup>(d)</sup> <br>| 4.31% | 09/02/2025 |  | 200000 | &nbsp;&nbsp; 200000000 |
| KEB Hana Bank<sup>(d)</sup> <br>| 4.42% | 12/15/2025 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Korea Development Bank<sup>(d)</sup> <br>| 4.26% | 03/02/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Mitsubishi UFJ Trust & Banking Corp. (SOFR + 0.23%) (Japan)<sup>(b)(d)</sup> <br>| 4.57% | 12/11/2025 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Mitsubishi UFJ Trust & Banking Corp. (SOFR + 0.22%)<sup>(b)(d)</sup> <br>| 4.56% | 02/06/2026 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Mizuho Bank Ltd.<sup>(d)</sup> <br>| 4.33% | 09/02/2025 |  | 30000 | &nbsp;&nbsp; 30000000 |
| Mizuho Bank Ltd.<sup>(d)</sup> <br>| 4.33% | 09/02/2025 |  | 220000 | &nbsp;&nbsp; 220000000 |
| Mizuho Bank Ltd.<sup>(d)</sup> <br>| 4.36% | 09/02/2025 |  | 200000 | &nbsp;&nbsp; 200000000 |
| Standard Chartered Bank (SOFR + 0.26%) (United Kingdom)<sup>(b)(d)</sup> <br>| 4.60% | 02/06/2026 |  | 90000 | &nbsp;&nbsp; 90000000 |
| Sumitomo Mitsui Banking Corp. (SOFR + 0.22%)<sup>(b)(d)</sup> <br>| 4.56% | 02/26/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Swedbank AB<sup>(d)</sup> <br>| 4.31% | 04/24/2026 |  | 25000 | &nbsp;&nbsp; 25000000 |
| Toronto-Dominion Bank (Canada)<sup>(d)</sup> <br>| 4.38% | 07/09/2026 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Total Certificates of Deposit (Cost $1,981,000,000) | Total Certificates of Deposit (Cost $1,981,000,000) | Total Certificates of Deposit (Cost $1,981,000,000) | Total Certificates of Deposit (Cost $1,981,000,000) |  | &nbsp;&nbsp; 1981000000 |
| **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  |
| **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** |
| Altoona-Blair County Development Corp.; Series 2015, VRD Bonds (LOC - PNC Bank, <br> N.A.)<sup>(c)(f)</sup> <br>| 4.41% | 04/01/2035 |  | 17850 | &nbsp;&nbsp; 17850000 |
| Jets Stadium Development LLC; Series 2014 A-4B, VRD Bonds (LOC - Sumitomo Mitsui <br> Banking Corp.)<sup>(c)(d)(f)</sup> <br>| 4.80% | 04/01/2047 |  | 12600 | &nbsp;&nbsp; 12600000 |
| Jets Stadium Development LLC; Series 2014 A-4C, VRD Bonds (LOC - Sumitomo Mitsui <br> Banking Corp.)<sup>(c)(d)(f)</sup> <br>| 4.80% | 04/01/2047 |  | 27300 | &nbsp;&nbsp; 27300000 |
| Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank, N.A.)<sup>(f)</sup> <br>| 4.42% | 05/01/2037 |  | 13160 | &nbsp;&nbsp; 13160000 |
| Ziegler Realty LLC; Series 2007, VRD Notes (LOC - Wells Fargo Bank, N.A.)<sup>(c)(f)</sup> <br>| 4.48% | 01/01/2033 |  | 3800 | &nbsp;&nbsp; 3800000 |
|  |  |  |  |  | &nbsp;&nbsp; 74710000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**4**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** |
| Board of Regents of the University of Texas System; Series 2016, RB | 4.32% | 08/01/2045 |  | $27550 | &nbsp;&nbsp; $27550000 |
| Total Variable Rate Demand Notes (Cost $102,260,000) | Total Variable Rate Demand Notes (Cost $102,260,000) | Total Variable Rate Demand Notes (Cost $102,260,000) | Total Variable Rate Demand Notes (Cost $102,260,000) |  | &nbsp;&nbsp; 102260000 |
| TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) |  | &nbsp;&nbsp; 6245294006 |
|  |  |  | &nbsp;&nbsp; **Repurchase**<br> **Amount** | &nbsp;&nbsp; **Repurchase**<br> **Amount** |  |
| **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  |
| ABN AMRO Bank N.V., joint agreement dated 08/29/2025, aggregate maturing value of <br> $550,265,222 (collateralized by agency mortgage-backed securities and U.S. Treasury <br> obligations valued at $561,000,046; 0.38% - 7.00%; 04/30/2026 - 08/20/2055)<br>| 4.34% | 09/02/2025 |  | 100048222 | &nbsp;&nbsp; 100000000 |
| Bank of Nova Scotia, joint term agreement dated 08/25/2025, aggregate maturing value <br> of $400,397,666 (collateralized by corporate obligations and non-agency asset-backed <br> securities valued at $420,365,362; 2.26% - 10.08%; 05/01/2027 - <br> 11/22/2052)<sup>(d)(h)(i)</sup> <br>| 4.48% | 09/02/2025 |  | 50049708 | &nbsp;&nbsp; 50000000 |
| Bank of Nova Scotia, joint term agreement dated 08/25/2025, aggregate maturing value <br> of $600,600,500 (collateralized by equity securities valued at $630,378,305; <br> 0.00%)<sup>(d)(h)(i)</sup> <br>| 4.51% | 09/02/2025 |  | 240240200 | &nbsp;&nbsp; 240000000 |
| BMO Capital Markets Corp., joint term agreement dated 08/29/2025, aggregate maturing <br> value of $125,550,521 (collateralized by agency and non-agency asset-backed <br> securities, corporate obligations and non-agency mortgage-backed securities valued at <br> $133,974,061; 0.00% - 12.57%; 03/15/2027 - 08/25/2070)<sup>(d)(i)</sup> <br>| 4.53% | 10/03/2025 |  | 60264250 | &nbsp;&nbsp; 60000000 |
| BMO Capital Markets Corp., joint term agreement dated 08/29/2025, aggregate maturing <br> value of $577,515,625 (collateralized by corporate obligations, non-agency <br> asset-backed securities and non-agency mortgage-backed securities valued at <br> $603,750,677; 0.00% - 9.57%; 04/15/2026 - 05/25/2070)<sup>(d)(i)</sup> <br>| 4.50% | 10/03/2025 |  | 145634375 | &nbsp;&nbsp; 145000000 |
| BNP Paribas Securities Corp., joint term agreement dated 06/25/2025, aggregate <br> maturing value of $300,155,334 (collateralized by corporate obligations and <br> non-agency asset-backed securities valued at $329,765,156; 1.86% - 13.00%; <br> 02/15/2026 - 01/15/2084)<sup>(d)(h)(i)</sup> <br>| 4.66% | 09/02/2025 |  | 100051778 | &nbsp;&nbsp; 100000000 |
| BNP Paribas Securities Corp., joint term agreement dated 07/10/2025, aggregate <br> maturing value of $2,501,233,333 (collateralized by agency mortgage-backed <br> securities, U.S. government sponsored agency obligations and U.S. Treasury obligations <br> valued at $2,550,000,006; 0.00% - 8.00%; 09/04/2025 - 04/20/2065)<sup>(h)(i)</sup> <br>| 4.44% | 09/02/2025 |  | 45022200 | &nbsp;&nbsp; 45000000 |
| BNP Paribas Securities Corp., joint term agreement dated 07/30/2025, aggregate <br> maturing value of $300,153,666 (collateralized by agency and non-agency <br> mortgage-backed securities, corporate obligations and non-agency asset-backed <br> securities valued at $315,000,001; 0.63% - 8.75%; 09/12/2025 - <br> 10/31/2082)<sup>(d)(h)(i)</sup> <br>| 4.61% | 09/02/2025 |  | 150076833 | &nbsp;&nbsp; 150000000 |
| BNP Paribas Securities Corp., joint term agreement dated 08/27/2025, aggregate <br> maturing value of $300,258,417 (collateralized by corporate obligations, non-agency <br> asset-backed securities and non-agency mortgage-backed securities valued at <br> $315,000,489; 0.63% - 9.25%; 09/01/2025 - 07/01/2116)<sup>(d)(i)</sup> <br>| 4.43% | 09/03/2025 |  | 100086139 | &nbsp;&nbsp; 100000000 |
| Citigroup Global Markets, Inc., joint agreement dated 08/29/2025, aggregate maturing <br> value of $1,000,481,111 (collateralized by U.S. Treasury obligations valued at <br> $1,020,119,984; 0.13% - 6.25%; 04/30/2030 - 07/31/2030)<br>| 4.33% | 09/02/2025 |  | 250120278 | &nbsp;&nbsp; 250000000 |
| Credit Agricole Corporate & Investment Bank, joint open agreement dated 08/14/2025 <br> (collateralized by commercial paper, corporate obligations, non-agency asset-backed <br> securities and non-agency mortgage-backed securities valued at $317,082,606; <br> 0.00% - 9.50%; 09/21/2025 - 08/25/2067)<sup>(d)(j)</sup> <br>| 4.46% | 09/02/2025 |  | 50117250 | &nbsp;&nbsp; 50000000 |
| ING Financial Markets, LLC, joint agreement dated 08/29/2025, aggregate maturing value <br> of $400,195,556 (collateralized by equity securities valued at $420,000,006; <br> 0.00%)<sup>(d)</sup> <br>| 4.40% | 09/02/2025 |  | 90044000 | &nbsp;&nbsp; 90000000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**5**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Repurchase**<br> **Amount** | &nbsp;&nbsp; **Repurchase**<br> **Amount** | **Value** |
| J.P. Morgan Securities LLC, open agreement dated 07/17/2024 (collateralized by <br> commercial paper and corporate obligations valued at $192,499,391; 0.00% - <br> 12.50%; 04/30/2026 - 08/30/2033)<sup>(j)</sup> <br>| 4.63% | 09/02/2025 |  | $175720222 | &nbsp;&nbsp; $175000000 |
| Mitsubishi UFJ Trust & Banking Corp., agreement dated 08/29/2025, maturing value of <br> $50,024,667 (collateralized by agency mortgage-backed securities valued at <br> $51,000,000; 4.77% - 5.54%; 09/16/2044 - 04/20/2072)<sup>(d)</sup> <br>| 4.44% | 09/02/2025 |  | 50024667 | &nbsp;&nbsp; 50000000 |
| Mizuho Securities (USA) LLC, joint open agreement dated 05/05/2025 (collateralized by <br> equity securities valued at $84,000,230; 0.00%)<sup>(d)(j)</sup> <br>| 4.48% | 09/02/2025 |  | 30014933 | &nbsp;&nbsp; 30000000 |
| RBC Capital Markets LLC, joint term agreement dated 08/26/2025, aggregate maturing <br> value of $150,131,250 (collateralized by corporate obligations valued at <br> $164,656,880; 0.00% - 12.75%; 09/01/2025 - 10/01/2097)<sup>(d)(i)</sup> <br>| 4.50% | 09/02/2025 |  | 30026250 | &nbsp;&nbsp; 30000000 |
| Societe Generale, open agreement dated 07/17/2024 (collateralized by corporate <br> obligations, non-agency asset-backed securities, non-agency mortgage-backed <br> securities and U.S. Treasury obligations valued at $86,609,925; 0.00% - 13.50%; <br> 09/15/2025 - 08/15/2076)<sup>(d)(j)</sup> <br>| 4.51% | 09/02/2025 |  | 80040089 | &nbsp;&nbsp; 80000000 |
| Standard Chartered Bank, joint agreement dated 08/29/2025, aggregate maturing value <br> of $4,001,924,444 (collateralized by U.S. Treasury obligations valued at <br> $4,081,962,968; 0.00% - 4.88%; 10/02/2025 - 02/15/2054)<br>| 4.33% | 09/02/2025 |  | 1453776621 | &nbsp;&nbsp; 1453077529 |
| TD Securities (USA) LLC, joint term agreement dated 08/26/2025, aggregate maturing <br> value of $250,214,375 (collateralized by corporate obligations valued at <br> $262,504,831; 1.05% - 6.00%; 09/14/2026 - 06/30/2059)<sup>(d)(i)</sup> <br>| 4.41% | 09/02/2025 |  | 50042875 | &nbsp;&nbsp; 50000000 |
| Wells Fargo Securities, LLC, term agreement dated 08/29/2025, maturing value of <br> $278,698,139 (collateralized by corporate obligations, non-agency asset-backed <br> securities and a non-agency mortgage-backed security valued at $294,801,020; <br> 0.00% - 22.00%; 09/01/2025 - 07/15/2060)<br>| 4.94% | 12/05/2025 |  | 278698139 | &nbsp;&nbsp; 275000000 |
| Total Repurchase Agreements (Cost $3,523,077,529) | Total Repurchase Agreements (Cost $3,523,077,529) | Total Repurchase Agreements (Cost $3,523,077,529) | Total Repurchase Agreements (Cost $3,523,077,529) |  | &nbsp;&nbsp; 3523077529 |
| TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) | TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) | TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) | TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) |  | &nbsp;&nbsp; 9768371535 |
| OTHER ASSETS LESS LIABILITIES-(0.71)% | OTHER ASSETS LESS LIABILITIES-(0.71)% | OTHER ASSETS LESS LIABILITIES-(0.71)% | OTHER ASSETS LESS LIABILITIES-(0.71)% |  | &nbsp;&nbsp; (68768937)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% |  | &nbsp;&nbsp; $9699602598 |

---

Investment Abbreviations:

---

| | |
|:---|:---|
| CEP | -Credit Enhancement Provider |
| LOC | -Letter of Credit |
| OBFR | -Overnight Bank Funding Rate |
| RB | -Revenue Bonds |
| SOFR | -Secured Overnight Financing Rate |
| VRD | -Variable Rate Demand |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**6**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

Notes to Schedule of Investments:

<sup>(a)</sup> Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.

<sup>(b)</sup> Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2025.

<sup>(c)</sup> Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at August 31, 2025 was $3,581,610,147, which represented 36.93% of the Fund's Net Assets. 

<sup>(d)</sup> The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: Canada: 17.6%; France: 15.8%; Japan: 9.0%; United Kingdom: 8.0%; Netherlands: 6.3%; other countries less than 5% each: 11.8%. 

<sup>(e)</sup> Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on August 31, 2025. 

<sup>(f)</sup> Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

<sup>(g)</sup> Principal amount equals value at period end. See Note 1J.

<sup>(h)</sup> Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

<sup>(i)</sup> The Fund may demand payment of the term repurchase agreement upon one to seven business days' notice depending on the timing of the demand.

<sup>(j)</sup> Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date. 

<sup>(k)</sup> Also represents cost for federal income tax purposes.

<sup>(l)</sup> Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer's obligations but may be called upon to satisfy the issuer's obligations. No concentration of any single entity was greater than 5% each. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**7**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Statement of Assets and Liabilities**

*August 31, 2025*

---

| | |
|:---|:---|
|  | **Invesco Premier** <br>**Portfolio**<br>|
| **Assets:** | **Assets:** |
| Investments in unaffiliated securities, at value | &nbsp;&nbsp; $6245294006 |
| Repurchase agreements, at value and cost | &nbsp;&nbsp; 3523077529 |
| Cash | &nbsp;&nbsp; 261350 |
| Receivable for: |  |
| Fund shares sold | &nbsp;&nbsp; 29883069 |
| Interest | &nbsp;&nbsp; 16933963 |
| Fund expenses absorbed | &nbsp;&nbsp; 568309 |
| Investment for trustee deferred compensation and retirement plans | &nbsp;&nbsp; 680307 |
| Total assets | &nbsp;&nbsp; 9816698533 |
| **Liabilities:** | **Liabilities:** |
| Payable for: |  |
| Investments purchased | &nbsp;&nbsp; 98959250 |
| Fund shares reacquired | &nbsp;&nbsp; 12993947 |
| Dividends | &nbsp;&nbsp; 2429468 |
| Accrued fees to affiliates | &nbsp;&nbsp; 2032963 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 680307 |
| Total liabilities | &nbsp;&nbsp; 117095935 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $9699602598 |
| **Net assets consist of:** | **Net assets consist of:** |
| Shares of beneficial interest | &nbsp;&nbsp; $9699475127 |
| Distributable earnings (loss) | &nbsp;&nbsp; 127471 |
|  | &nbsp;&nbsp; $9699602598 |
| **Net Assets:** | **Net Assets:** |
| Institutional Class | &nbsp;&nbsp; $9414960740 |
| Investor Class | &nbsp;&nbsp; $283867086 |
| Personal Investment Class | &nbsp;&nbsp; $11835 |
| Private Investment Class | &nbsp;&nbsp; $27694 |
| Reserve Class | &nbsp;&nbsp; $11593 |
| Resource Class | &nbsp;&nbsp; $723650 |
| **Shares outstanding, no par value,** <br>**unlimited number of shares authorized:** | **Shares outstanding, no par value,** <br>**unlimited number of shares authorized:** |
| Institutional Class | &nbsp;&nbsp; 9414516475 |
| Investor Class | &nbsp;&nbsp; 283856455 |
| Personal Investment Class | &nbsp;&nbsp; 11834 |
| Private Investment Class | &nbsp;&nbsp; 27692 |
| Reserve Class | &nbsp;&nbsp; 11592 |
| Resource Class | &nbsp;&nbsp; 723615 |
| Net asset value, offering and redemption price per share for each class | &nbsp;&nbsp; $1.00 |
| Cost of Investments | &nbsp;&nbsp; $9768371535 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**8**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Statement of Operations**

*For the year ended August 31, 2025*

---

| | |
|:---|:---|
|  | **Invesco Premier** <br>**Portfolio**<br>|
| **Investment income:** |  |
| Interest | &nbsp;&nbsp; $407012230 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 21719795 |
| Distribution fees: |  |
| Personal Investment Class | &nbsp;&nbsp; 71880 |
| Private Investment Class | &nbsp;&nbsp; 81 |
| Reserve Class | &nbsp;&nbsp; 99 |
| Resource Class | &nbsp;&nbsp; 1131 |
| Professional services fees | &nbsp;&nbsp; (2968)<br>|
| Total expenses | &nbsp;&nbsp; 21790018 |
| Less: Fees waived | &nbsp;&nbsp; (6081509)<br>|
| Net expenses | &nbsp;&nbsp; 15708509 |
| Net investment income | &nbsp;&nbsp; 391303721 |
| Net realized gain from unaffiliated investment securities | &nbsp;&nbsp; 2356 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $391306077 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**9**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Statement of Changes in Net Assets**

*For the years ended August 31, 2025 and 2024*

---

| | | |
|:---|:---|:---|
|  | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** |
|  | **2025** | **2024** |
| **Operations:** | **Operations:** | **Operations:** |
| Net investment income | &nbsp;&nbsp; $391303721 | &nbsp;&nbsp; $346325123 |
| Net realized gain | &nbsp;&nbsp; 2356 | &nbsp;&nbsp; 20533 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 391306077 | &nbsp;&nbsp; 346345656 |
| **Distributions to shareholders from distributable earnings:** | **Distributions to shareholders from distributable earnings:** | **Distributions to shareholders from distributable earnings:** |
| Institutional Class | &nbsp;&nbsp; (381517915)<br>| &nbsp;&nbsp; (337282614)<br>|
| Investor Class | &nbsp;&nbsp; (9233389)<br>| &nbsp;&nbsp; (8535442)<br>|
| Personal Investment Class | &nbsp;&nbsp; (520037)<br>| &nbsp;&nbsp; (469960)<br>|
| Private Investment Class | &nbsp;&nbsp; (1143)<br>| &nbsp;&nbsp; (1317)<br>|
| Reserve Class | &nbsp;&nbsp; (415)<br>| &nbsp;&nbsp; (494)<br>|
| Resource Class | &nbsp;&nbsp; (30822)<br>| &nbsp;&nbsp; (35296)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (391303721)<br>| &nbsp;&nbsp; (346325123)<br>|
| **Share transactions-net:** | **Share transactions-net:** | **Share transactions-net:** |
| Institutional Class | &nbsp;&nbsp; 1849359762 | &nbsp;&nbsp; 2790848017 |
| Investor Class | &nbsp;&nbsp; 131397110 | &nbsp;&nbsp; (5997098)<br>|
| Personal Investment Class | &nbsp;&nbsp; (13619385)<br>| &nbsp;&nbsp; 6526699 |
| Private Investment Class | &nbsp;&nbsp; 1256 | &nbsp;&nbsp; 1313 |
| Reserve Class | &nbsp;&nbsp; 458 | &nbsp;&nbsp; 494 |
| Resource Class | &nbsp;&nbsp; 33862 | &nbsp;&nbsp; 35168 |
| Net increase in net assets resulting from share transactions | &nbsp;&nbsp; 1967173063 | &nbsp;&nbsp; 2791414593 |
| Net increase in net assets | &nbsp;&nbsp; 1967175419 | &nbsp;&nbsp; 2791435126 |
| **Net assets:** | **Net assets:** | **Net assets:** |
| Beginning of year | &nbsp;&nbsp; 7732427179 | &nbsp;&nbsp; 4940992053 |
| End of year | &nbsp;&nbsp; $9699602598 | &nbsp;&nbsp; $7732427179 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**10**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Financial Highlights**

The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.

**Private Investment Class** 

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income**<sup>(a)</sup> <br>| **Net gains** <br>**on securities** <br>**(realized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or expense** <br>**reimbursements**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or expense** <br>**reimbursements**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**to average** <br>**net assets**<br>|
| **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** |
| Year ended 08/31/25 | $1.00 | $0.04 | $0.00 | $0.04 | $(0.04)<br>| $1.00 | 4.31<br> %<br>| $28 | 0.48<br> %<br>| 0.55<br> %<br>| 4.20<br> %<br>|
| Year ended 08/31/24 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| 1.00 | 5.23 | 26 | 0.48 | 0.55 | 5.09 |
| Year ended 08/31/23 | 1.00 | 0.04 | (0.00)<br>| 0.04 | (0.04)<br>| 1.00 | 4.19 | 25 | 0.48 | 0.55 | 4.33 |
| Year ended 08/31/22 | 1.00 | 0.00 | 0.00 | 0.00 | (0.00)<br>| 1.00 | 0.38 | 24 | 0.22 | 0.55 | 0.57 |
| Year ended 08/31/21 | 1.00 | 0.00 | 0.00 | 0.00 | (0.00)<br>| 1.00 | 0.01 | 162 | 0.25 | 0.55 | 0.00 |

---

<sup>(a)</sup> Calculated using average shares outstanding. <br> <sup>(b)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**11**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Notes to Financial Statements**

*August 31, 2025*

**NOTE 1—Significant Accounting Policies**

Invesco Premier Portfolio (the "Fund") is a series of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) (the "Trust"). The Trust is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company consisting of two separate portfolios and authorized to issue an unlimited number of shares of beneficial interest. The assets, liabilities and operations of the portfolio are accounted for separately. Information presented in these financial statements pertains only to the Fund. Matters affecting the portfolio or class will be voted on exclusively by the shareholders of such portfolio or class.

The Fund's investment objective is to provide current income consistent with preservation of capital and liquidity.

The Fund currently consists of six classes of shares: Investor Class, Institutional Class, Private Investment Class, Personal Investment Class, Reserve Class and Resource Class. Investor Class shares of the Fund are available only to certain investors. Each class of shares is sold at net asset value.

The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, Financial Services – Investment Companies.

The Fund is a "retail money market fund" as defined in Rule 2a-7 under the 1940 Act (the "Rule"), and seeks to maintain a stable or constant NAV of $1.00 per share using an amortized cost method of valuation. "Retail money market funds" are required to adopt policies and procedures reasonably designed to limit investments in the Fund to accounts beneficially owned by natural persons.

The Fund may impose a fee upon the sale of shares.

The following is a summary of the significant accounting policies followed by the Fund in the preparation of their financial statements.

**A.** **Security Valuations** — The Fund's securities are recorded on the basis of amortized cost which approximates value as permitted by the Rule. This method values a security at its cost on the date of purchase and, thereafter, assumes a constant amortization to maturity of any premiums or accretion of any discounts.

Securities for which market quotations are not readily available are fair valued by Invesco Advisers, Inc. (the "Adviser" or "Invesco") in accordance with Board-approved policies and related Adviser procedures ("Valuation Procedures"). If a fair value price provided by a pricing service is unreliable in the Adviser's judgment, the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value.

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.

The Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.

**B.** **Securities Transactions and Investment Income** — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on the accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.

The Fund may periodically participate in litigation related to the Fund's investments. As such, the Fund may receive proceeds from litigation settlements involving the Fund's investments. 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 gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the investment adviser.

The Fund allocates realized capital gains and losses to a class based on the relative net assets of the class. The Fund allocates income to a class based on the relative settled shares of the class.

**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, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, 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.** **Distributions** - It is the policy of the Fund to declare dividends from net investment income, if any, daily and pay them monthly. The Fund generally distributes net realized capital gain (including net short-term capital gain), if any, annually.

**E.** **Federal Income Taxes** — The Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Fund's

**12**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

taxable earnings to shareholders. As such, the Fund will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.

The Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

**F.** **Expenses** – Fees provided for under the Rule 12b-1 plan of a particular class of the Fund and which are directly attributable to that class are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative settled shares.

**G.** **Accounting Estimates** - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**H.** **Indemnifications** - Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against such Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**I.** **Segment Reporting** — In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), with the intent of improving reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole, thereby enabling better understanding of how an entity's segments impact overall performance. The Fund represents a single operating segment. Subject to the oversight and, when applicable, approval of the Board of Trustees, the Adviser acts as the Fund's chief operating decision maker ("CODM"), assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements. Adoption of the new standard impacted the Fund's financial statement note disclosures only and did not affect the Fund's financial position or the results of its operations.

**J.** **Repurchase Agreements -** The Fund may enter into repurchase agreements. Collateral on repurchase agreements, including the Fund's pro-rata interest in joint repurchase agreements, is taken into possession by the Fund upon entering into the repurchase agreement. Collateral consisting of U.S. Government Securities and U.S. Government Sponsored Agency Securities is marked to market daily to ensure its market value is typically at least 102% of the sales price of the repurchase agreement. Collateral consisting of non-government securities is marked to market daily to ensure its market value is typically at least 105% of the sales price of the repurchase agreement. The investments in some repurchase agreements, pursuant to procedures approved by the Board of Trustees, are through participation with other mutual funds, private accounts and certain non-registered investment companies managed by the investment advisor or its affiliates ("Joint repurchase agreements"). The principal amount of the repurchase agreement is equal to the value at period-end. If the seller of a repurchase agreement fails to repurchase the security in accordance with the terms of the agreement, the Fund might incur expenses in enforcing its rights, and could experience losses, including a decline in the value of the collateral and loss of income.

**K.** **Other Risks** - The effect on performance from investing in securities issued or guaranteed by companies in the banking and financial services industries will depend to a greater extent on the overall condition of those industries. Financial services companies are highly dependent on the supply of short-term financing. The value of securities of issuers in the banking and financial services industry can be sensitive to changes in government regulation and interest rates and to economic downturns in the United States and abroad.

U.S. dollar-denominated securities carrying foreign credit exposure may be affected by unfavorable political, economic or governmental developments that could affect payments of principal and interest.

**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, the Fund accrues daily and pays monthly an advisory fee to the Adviser at an annual rate of 0.25% of the Fund's average daily net assets. Pursuant to the master investment advisory agreement, the Adviser bears all expenses incurred by the Fund in connection with its operations, except for (1) interest, taxes and extraordinary items such as litigation costs; (2) brokers' commissions, issue and transfer taxes, and other costs chargeable to the Fund in connection with securities transactions to which the Fund is a party or in connection with securities owned by the Fund; and (3) other expenditures which are capitalized in accordance with generally accepted accounting principles applicable to investment companies.

Under the terms of a master sub-advisory agreement between the Adviser to the Fund and each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Inc., Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and a separate sub-advisory agreement with Invesco Capital Management LLC (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Sub-Adviser(s).

The Adviser has contractually agreed, through at least December 31, 2025, to waive advisory fees equal to 0.07% of the average daily net assets of the Fund.

**13**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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For the year ended August 31, 2025, the Adviser waived advisory fees and/or reimbursed Fund expenses in the following amounts:

---

| | |
|:---|:---|
| Invesco Premier Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; $6081509 |

---

The Trust has entered into a master administrative services agreement with Invesco to provide accounting services to the Fund. The Trust has also entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") to provide transfer agency and shareholder services to the Fund. Invesco and IIS do not charge the Fund any fees under these agreements. Also, Invesco has entered into a sub-administration agreement whereby The Bank of New York Mellon ("BNY") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, BNY also serves as the Fund's custodian.

The Trust has entered into master distribution agreements with IDI to serve as the distributor for the Investor Class, Institutional Class, Personal Investment Class, Private Investment Class, Reserve Class and Resource Class shares. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Personal Investment Class, Private Investment Class, Reserve Class and Resource Class shares (collectively, the "Plans"). The Fund, pursuant to the Plans, pays IDI compensation at the annual rate of 0.55% of the Fund's average daily net assets of Personal Investment Class shares, 0.30% of the average daily net assets of Private Investment Class shares, 0.87% of the average daily net assets of Reserve Class shares and 0.16% of the average daily net assets of Resource Class shares. The fees are accrued daily and paid monthly. Of the Plan payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such class. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended August 31, 2025, expenses incurred under the plans are shown in the Statement of Operations as *Distribution fees*.

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

**NOTE 3—Additional Valuation Information**

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

Level 1 — Prices are determined using quoted prices in an active market for identical assets.

Level 2 — Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.

Level 3 — Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Adviser's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

As of August 31, 2025, all of the securities in the Fund were valued based on Level 2 inputs (see the Schedule of Investments for security categories). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

**NOTE 4—Trustees' and Officers' Fees and Benefits**

Remuneration is paid to certain Trustees and Officers of the Trust. Trustees have the option to defer their compensation. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested.

Certain current Trustees were eligible to participate in a retirement plan that provided for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Fund may have certain former Trustees that also participate in a retirement plan and receive benefits under such plan. The Fund's allocable portion of the remuneration paid to the Trustees, including its allocable portion of the fees and benefits of the deferred compensation plan and retirement plan are paid by Invesco and not by the Trust.

**NOTE 5—Cash Balances**

The Fund is permitted to temporarily overdraft or leave balances in its account with BNY, the custodian bank. Such balances, if any at period-end, are shown in the Statement of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate BNY or the Fund for such activity, the Fund may either (1) pay to or receive from BNY compensation at a rate agreed upon by BNY and Invesco, not to exceed the contractually agreed upon rate; or (2) leave funds or overdraft funds as a compensating balance in the account so BNY or the Fund can be compensated for use of funds.

**NOTE 6—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2025 and 2024:</u>** |
|  | **2025** | **2024** |
|  | **Ordinary** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Ordinary** <br>**Income\***<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp; $391303721 | &nbsp;&nbsp;&nbsp;&nbsp; $346325123 |

---

\* Includes short-term capital gain distributions, if any.

**14**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

---

| | | | |
|:---|:---|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Undistributed** <br>**Ordinary** <br>**Income**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Shares of** <br>**Beneficial** <br>**Interest**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Total** <br>**Net Assets**<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; $127471 | &nbsp;&nbsp;&nbsp;&nbsp; $9699475127 | &nbsp;&nbsp;&nbsp;&nbsp; $9699602598 |

---

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Fund to utilize. The ability to utilize capital loss carryforwards in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Fund did not have any capital loss carryforward as of August 31, 2025.

**NOTE 7—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of distributions, on August 31, 2025, amounts were reclassified between undistributed net investment income, undistributed net realized gain (loss) and shares of beneficial interest. These reclassifications had no effect on the net assets of the Fund.

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Undistributed Net** <br>**Investment Income**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Undistributed Net** <br>**Realized Gain (Loss)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Shares of** <br>**Beneficial Interest**<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; $2356 | &nbsp;&nbsp;&nbsp;&nbsp; $(2356)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $- |

---

**NOTE 8—Share Information**

**Invesco Premier Portfolio** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Years ended August 31,** | **Years ended August 31,** | **Years ended August 31,** | **Years ended August 31,** |
|  | **2025**<sup>(a)</sup>  | **2025**<sup>(a)</sup>  | **2024** | **2024** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; 11598875406 | &nbsp;&nbsp;&nbsp; $11598875406 | &nbsp;&nbsp;&nbsp; 9739077117 | &nbsp;&nbsp;&nbsp; $9739077117 |
| Investor Class | &nbsp;&nbsp;&nbsp; 521969267 | &nbsp;&nbsp;&nbsp; 521969267 | &nbsp;&nbsp;&nbsp; 336725771 | &nbsp;&nbsp;&nbsp; 336725771 |
| Personal Investment Class | &nbsp;&nbsp;&nbsp; 13222425 | &nbsp;&nbsp;&nbsp; 13222425 | &nbsp;&nbsp;&nbsp; 24100174 | &nbsp;&nbsp;&nbsp; 24100174 |
| Private Investment Class | &nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| Reserve Class | &nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| Resource Class | &nbsp;&nbsp;&nbsp; 3040 | &nbsp;&nbsp;&nbsp; 3040 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; 381517885 | &nbsp;&nbsp;&nbsp; 381517885 | &nbsp;&nbsp;&nbsp; 299321339 | &nbsp;&nbsp;&nbsp; 299321339 |
| Investor Class | &nbsp;&nbsp;&nbsp; 9226500 | &nbsp;&nbsp;&nbsp; 9226500 | &nbsp;&nbsp;&nbsp; 8507286 | &nbsp;&nbsp;&nbsp; 8507286 |
| Personal Investment Class | &nbsp;&nbsp;&nbsp; 520037 | &nbsp;&nbsp;&nbsp; 520037 | &nbsp;&nbsp;&nbsp; 442533 | &nbsp;&nbsp;&nbsp; 442533 |
| Private Investment Class | &nbsp;&nbsp;&nbsp; 1143 | &nbsp;&nbsp;&nbsp; 1143 | &nbsp;&nbsp;&nbsp; 1313 | &nbsp;&nbsp;&nbsp; 1313 |
| Reserve Class | &nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp; 494 | &nbsp;&nbsp;&nbsp; 494 |
| Resource Class | &nbsp;&nbsp;&nbsp; 30822 | &nbsp;&nbsp;&nbsp; 30822 | &nbsp;&nbsp;&nbsp; 35168 | &nbsp;&nbsp;&nbsp; 35168 |
| **Reacquired:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; (10131033529)<br>| &nbsp;&nbsp;&nbsp; (10131033529)<br>| &nbsp;&nbsp;&nbsp; (7247550439)<br>| &nbsp;&nbsp;&nbsp; (7247550439)<br>|
| Investor Class | &nbsp;&nbsp;&nbsp; (399798657)<br>| &nbsp;&nbsp;&nbsp; (399798657)<br>| &nbsp;&nbsp;&nbsp; (351230155)<br>| &nbsp;&nbsp;&nbsp; (351230155)<br>|
| Personal Investment Class | &nbsp;&nbsp;&nbsp; (27361847)<br>| &nbsp;&nbsp;&nbsp; (27361847)<br>| &nbsp;&nbsp;&nbsp; (18016008)<br>| &nbsp;&nbsp;&nbsp; (18016008)<br>|
| Net increase in share activity | &nbsp;&nbsp;&nbsp; 1967173063 | &nbsp;&nbsp;&nbsp; $1967173063 | &nbsp;&nbsp;&nbsp; 2791414593 | &nbsp;&nbsp;&nbsp; $2791414593 |

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 51% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**15**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) and Shareholders of Invesco Premier Portfolio

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco Premier Portfolio (one of the funds constituting AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust), referred to hereafter as the "Fund") as of August 31, 2025, the related statement of operations for the year ended August 31, 2025, the statement of changes in net assets for each of the two years in the period ended August 31, 2025, including the related notes, and the financial highlights of the Private Investment Class for each of the five years in the period ended August 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of August 31, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended August 31, 2025 and the financial highlights of the Private Investment Class for each of the five years in the period ended August 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of August 31, 2025 by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

October 24, 2025

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**16**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Approval of Investment Advisory and Sub-Advisory Contracts**

**(Invesco Premier Portfolio and Invesco Premier U.S. Government Money Portfolio)** 

At meetings held on June 16, 2025, the Board of Trustees (the Board or the Trustees) of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) as a whole, and the independent Trustees, who comprise over 75% of the Board, voting separately, approved the continuance of each series portfolio of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) listed above (each, a Fund) Master Investment Advisory Agreement with Invesco Advisers, Inc. (Invesco Advisers and the investment advisory agreement) and for Invesco Premier Portfolio, the Master Intergroup Sub-Advisory Contract for Mutual Funds with Invesco Asset Management Deutschland GmbH\*, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and a separate sub-advisory contract with Invesco Capital Management LLC (collectively, the Affiliated Sub-Advisers and the sub-advisory contracts) for another year, effective July 1, 2025. After evaluating the factors discussed below, among others, the Board approved the renewal of each Fund's investment advisory agreement and the sub-advisory contracts and determined that the compensation payable thereunder by each Fund to Invesco Advisers and by Invesco Advisers to the Affiliated Sub-Advisers is fair and reasonable.&nbsp;&nbsp;&nbsp;&nbsp;

**The Board's Evaluation Process**

The Board has established an Investments Committee, which in turn has established Sub-Committees. The Sub-Committees meet regularly throughout the year with portfolio managers and other members of management to review information about the investment performance and portfolio attributes for those funds advised by Invesco Advisers (Invesco Funds) assigned to them. The Board has established additional standing and ad hoc committees that meet throughout the year to review matters within their purview, including a working group focused on opportunities to make ongoing and continuous improvements to the Board's annual review process for the Invesco Funds' investment advisory agreement and sub-advisory contracts (the annual review process). In considering whether to approve each Invesco Fund's investment advisory agreement and sub-advisory contracts, the Board took into account evaluations and reports that it received from its committees and sub-committees, as well as the information provided to the Board and its committees and sub-committees throughout the year.

As part of the annual review process, the Board reviews and considers information provided in response to requests for

information submitted to management by the independent Trustees with assistance from legal counsel to the independent Trustees (independent legal counsel) and the Senior Officer, an officer of the Invesco Funds who reports directly to the independent Trustees. The Board receives comparative investment performance and fee and expense data regarding the Invesco Funds prepared by Broadridge Financial Solutions, Inc. (Broadridge), an independent provider of investment company data, as well as information on the composition of the peer groups and its methodology for determining peer groups. The Board also receives an independent written evaluation from the Senior Officer. The Senior Officer's evaluation is prepared as part of his responsibility to manage the process by which the Invesco Funds' proposed management fees are negotiated during the annual review process to ensure they are negotiated in a manner that is at arms' length and reasonable in accordance with certain negotiated regulatory requirements. In addition to meetings with Invesco Advisers and fund counsel throughout the year and as part of meetings convened on May 6, 2025 and June 16-18, 2025, the independent Trustees also discussed the continuance of the investment advisory agreement and sub-advisory contracts in separate sessions with the Senior Officer and with independent legal counsel. The discussion below includes summary information drawn in part from the Senior Officer's independent written evaluation with respect to the Fund's investment advisory agreement and sub-advisory contracts, as well as a discussion of the material factors and related conclusions that formed the basis for the Board's approval of each Fund's investment advisory agreement and Invesco Premier Portfolio's sub-advisory contracts. The Trustees' review and conclusions are based on the comprehensive consideration of all information presented to them during the course of the year and are not the result of any single determinative factor. Moreover, one Trustee may have weighed a particular piece of information or factor differently than another Trustee.

**Factors and Conclusions and Summary of Independent Written Fee Evaluation**

*A.* *Nature, Extent and Quality of Services Provided by Invesco Advisers and the Affiliated Sub-Advisers*

The Board reviewed the nature, extent and quality of the advisory services provided to each Fund by Invesco Advisers under each Fund's investment advisory agreement, and the credentials and experience of the officers and employees of Invesco Advisers who provide these services, including each Fund's portfolio

manager(s). The Board's review included consideration of Invesco Advisers' investment process and oversight, credit analysis, and research capabilities. The Board considered information regarding Invesco Advisers' programs for and resources devoted to risk management, including management of investment, enterprise, operational, liquidity, derivatives, valuation and compliance risks, and technology used to manage such risks. The Board received information regarding Invesco's methodology for compensating its investment professionals and the incentives and accountability it creates, as well as how it impacts Invesco's ability to attract and retain talent. The Board considered that Invesco Advisers has shown the willingness to commit resources to support investment in the business and to remain well-positioned to serve Fund shareholders including with regard to attracting and retaining qualified personnel on its investment teams and investing in technology. The Board received a description of, and reports related to, Invesco Advisers' global security program and business continuity plans and of its approach to data privacy and cybersecurity, including related testing. The Board also considered non-advisory services that Invesco Advisers and its affiliates provide to the Invesco Funds, such as various middle office and back office support functions, third party oversight, internal audit, valuation, portfolio trading and legal and compliance. The Board considered Invesco Advisers' systems preparedness and ongoing investment to seek to manage, operate and oversee the Invesco Funds with minimal impact or disruption through challenging environments. The Board reviewed and considered the benefits to shareholders of investing in a Fund that is part of the family of funds under the umbrella of Invesco Ltd., Invesco Advisers' parent company, and noted Invesco Ltd.'s depth and experience in running an investment management business, as well as its commitment of financial and other resources to such business. The Board concluded that the nature, extent and quality of the services provided to each Fund by Invesco Advisers supported the renewal of the investment advisory agreement.

**INVESCO PREMIER PORTFOLIO**

The Board reviewed the services that may be provided to the Fund by the Affiliated Sub-Advisers under the sub-advisory contracts and the credentials and experience of the officers and employees of the Affiliated Sub-Advisers who provide these services. The Board noted the Affiliated Sub-Advisers' expertise with respect to certain asset classes and that the Affiliated Sub-Advisers have offices

**17**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

and personnel that are located in financial centers around the world. As a result, the Board noted that the Affiliated Sub-Advisers can provide research and investment analysis on the markets and economies of various countries and territories in which the Fund may invest, make recommendations regarding securities and assist with portfolio trading. The Board concluded that the sub-advisory contracts may benefit the Fund and its shareholders by permitting Invesco Advisers to use the resources and talents of the Affiliated Sub-Advisers in managing the Fund. The Board concluded that the nature, extent and quality of the services that may be provided to the Fund by the Affiliated Sub-Advisers supported the renewal of the sub-advisory contracts.

**INVESCO PREMIER U.S. GOVERNMENT MONEY PORTFOLIO**

The Board reviewed and considered the benefits to shareholders of investing in a Fund that is part of the Invesco family of funds under the umbrella of Invesco Ltd., Invesco Advisers' parent company, and noted Invesco Ltd.'s depth and experience in conducting an investment management business, as well as its commitment of financial and other resources to such business. The Board also reviewed and considered information regarding the benefits to the Fund resulting from Invesco Ltd.'s acquisition of OppenheimerFunds, Inc. and its subsidiaries (the Transaction) and the resources that Invesco Advisers has committed to managing the Invesco family of funds following the Transaction. The Board concluded that the nature, extent and quality of the services provided to the Fund by Invesco Advisers supported the renewal of the investment advisory agreement.

*B.* *Fund Investment Performance*

**INVESCO PREMIER PORTFOLIO**

The Board considered Fund investment performance as a relevant factor in considering whether to approve the investment advisory agreement. The Board did not view Fund investment performance as a relevant factor in considering whether to approve the sub-advisory contracts for the Fund, as no Affiliated Sub-Adviser currently manages assets of the Fund.

The Board compared the Fund's investment performance over multiple time periods ending December 31, 2024 to the performance of funds in the Broadridge performance universe and against the iMoneyNet First Tier Institutional Funds Category (Index). The Board noted that performance of Investor Class shares of the Fund was in the first quintile of its performance universe for the one, three and five year periods (the first quintile being the best performing funds on a relative basis and the fifth quintile being the worst performing funds on a relative basis). The Board noted that performance of Investor Class shares of the Fund was above the performance of the Index for the one, three and

five year periods. The Board recognized that the performance data reflects a snapshot in time as of a particular date and that selecting a different performance period could produce different results. The Board also reviewed more recent Fund performance as well as other performance metrics, which did not change its conclusions.

**INVESCO PREMIER U.S. GOVERNMENT MONEY PORTFOLIO**

The Board considered Fund investment performance as a relevant factor in considering whether to approve the investment advisory agreement.

The Board compared the Fund's investment performance over multiple time periods ending December 31, 2024 to the performance of funds in the Broadridge performance universe and against the iMoneyNet Government Institutional Funds Category (Index). The Board noted that performance of Investor Class shares of the Fund was in the first quintile of its performance universe for the one, three and five year periods (the first quintile being the best performing funds on a relative basis and the fifth quintile being the worst performing funds on a relative basis). The Board noted that performance of Investor Class shares of the Fund was above the performance of the Index for the one, three and five year periods. The Board recognized that the performance data reflects a snapshot in time as of a particular date and that selecting a different performance period could produce different results. The Board also reviewed more recent Fund performance as well as other performance metrics, which did not change its conclusions.

*C.* *Advisory and Sub-Advisory Fees and Fund Expenses*

**INVESCO PREMIER PORTFOLIO**

The Board received information regarding Invesco Advisers' approach with respect to contractual management fee schedules and compared the Fund's contractual management fee rate to the contractual management fee rates of funds in the Fund's Broadridge expense group. The Board noted that the contractual management and actual management fee rates for Investor Class shares of the Fund were each reasonably comparable to the median contractual management and actual management fee rates of funds in its expense group. The Board noted that the term "contractual management fee" and "actual management fee" for funds in the expense group may include both advisory and certain non-portfolio management administrative services fees, but that Broadridge is not able to provide information on a fund-by-fund basis as to what is included. The Board also reviewed the methodology used by Broadridge in calculating expense group information, which includes using each fund's contractual management fee schedule (including any applicable breakpoints) as reported in the most

recent prospectus or statement of additional information for each fund in the expense group. The Board also considered comparative information regarding the Fund's total expense ratio and its various components. The Board noted that the Fund differs from the other Invesco Funds in that it pays "all-inclusive" unitary advisory fees that cover various Fund operating expenses.

The Board noted that Invesco Advisers has contractually agreed to waive advisory fees of the Fund in an amount and for the term disclosed in the Fund's registration statement. The Board further noted that Invesco Advisers has voluntarily undertaken to waive fees to the extent necessary to assist the Fund in attempting to maintain a positive yield.

The Board also considered the fees charged by Invesco Advisers and its affiliates to other client accounts that are similarly managed. Invesco Advisers reviewed with the Board differences in the scope of services it provides to the Invesco Funds relative to that provided by Invesco Advisers and its affiliates to certain other types of client accounts, including, among others: management of cash flows as a result of redemptions and purchases; necessary infrastructure such as officers, office space, technology, legal and distribution; oversight of service providers; costs and business risks associated with launching new funds and sponsoring and maintaining the product line; and compliance with federal and state laws and regulations. Invesco Advisers also advised the Board that many of the similarly managed client accounts have all-inclusive fee structures, which are not easily un-bundled.

The Board also compared the Fund's advisory fee rate before the application of advisory fee waivers/expense limitations to the effective advisory fee rates before the application of advisory fee waivers/expense limitations of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2024.

The Board also considered the services that may be provided by the Affiliated Sub-Advisers pursuant to the sub-advisory contracts, as well as the fees payable by Invesco Advisers to the Affiliated Sub-Advisers pursuant to the sub-advisory contracts.

**INVESCO PREMIER U.S. GOVERNMENT MONEY PORTFOLIO**

The Board received information regarding Invesco Advisers' approach with respect to contractual management fee schedules and compared the Fund's contractual management fee rate to the contractual management fee rates of funds in the Fund's Broadridge expense group. The Board noted that the contractual management and actual management fee rates for Investor Class shares of the Fund were above and reasonably comparable to, respectively, the median contractual management and actual

**18**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

management fee rates of funds in its expense group. The Board noted that the term "contractual management fee" and "actual management fee" for funds in the expense group may include both advisory and certain non-portfolio management administrative services fees, but that Broadridge is not able to provide information on a fund-by-fund basis as to what is included. The Board also reviewed the methodology used by Broadridge in calculating expense group information, which includes using each fund's contractual management fee schedule (including any applicable breakpoints) as reported in the most recent prospectus or statement of additional information for each fund in the expense group. The Board also considered comparative information regarding the Fund's total expense ratio and its various components. The Board noted that the Fund differs from the other Invesco Funds in that it pays "all-inclusive" unitary advisory fees that cover various Fund operating expenses. The Board noted that the Fund's, contractual management fees were in the fourth quintile of its expense group and discussed with management reasons for such relative contractual management fees.

The Board noted that Invesco Advisers has contractually agreed to waive advisory fees of the Fund in an amount and for the term disclosed in the Fund's registration statement. The Board further noted that Invesco Advisers has voluntarily undertaken to waive fees to the extent necessary to assist the Fund in attempting to maintain a positive yield.

The Board also considered the fees charged by Invesco Advisers and its affiliates to other client accounts that are similarly managed. Invesco Advisers reviewed with the Board differences in the scope of services it provides to the Invesco Funds relative to that provided by Invesco Advisers and its affiliates to certain other types of client accounts, including, among others: management of cash flows as a result of redemptions and purchases; necessary infrastructure such as officers, office space, technology, legal and distribution; oversight of service providers; costs and business risks associated with launching new funds and sponsoring and maintaining the product line; and compliance with federal and state laws and regulations. Invesco Advisers also advised the Board that many of the similarly managed client accounts have all-inclusive fee structures, which are not easily un-bundled.

The Board also compared the Fund's advisory fee rate before the application of advisory fee waivers/expense limitations to the effective advisory fee rates before the application of advisory fee waivers/expense limitations of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2024.

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

*D.* *Economies of Scale and Breakpoints*

The Board considered the extent to which there may be economies of scale in the provision of advisory services to each Fund and the Invesco Funds, and the extent to which such economies of scale are shared with each Fund and the Invesco Funds. The Board acknowledged the limitations in calculating and measuring economies of scale at the individual fund level; noting that only indicative and estimated measures are available at the individual fund level and that such measures are subject to uncertainty. The Board noted that each Fund does not benefit from economies of scale through contractual breakpoints, but does share in economies of scale through Invesco Advisers' ability to negotiate lower fee arrangements with third party service providers. The Board noted that each Fund may also benefit from economies of scale through initial fee setting, fee waivers and expense reimbursements, as well as Invesco Advisers' management of significant assets and investment in its business, including investments in business infrastructure, technology and cybersecurity.

*E.* *Profitability and Financial Resources*

The Board reviewed information from Invesco Advisers concerning the costs of the advisory and other services that Invesco Advisers and its affiliates provide to each Fund and the Invesco Funds and the profitability of Invesco Advisers and its affiliates in providing these services in the aggregate and on an individual fund-by-fund basis. The Board considered the methodology used for calculating profitability and the periodic review and enhancement of such methodology. The Board noted that Invesco Advisers continues to operate at a net profit from services Invesco Advisers and its affiliates provide to the Invesco Funds in the aggregate and to most Invesco Funds individually. The Board considered that profits to Invesco Advisers can vary significantly depending on the particular Invesco Fund, with some Invesco Funds showing indicative losses to Invesco Advisers and others showing indicative profits at healthy levels, and that Invesco Advisers' support for and commitment to an Invesco Fund are not, however, solely dependent on the profits attributed to such Fund. The Board did not deem the level of profits realized by Invesco Advisers and its affiliates from providing such services to be excessive, given the nature, extent and quality of the services provided. The Board noted that Invesco Advisers provided information demonstrating that Invesco Advisers is financially sound and has the resources necessary to perform its obligations under the investment advisory agreement, and provided representations indicating that the Affiliated Sub-Advisers are financially sound and have the resources necessary to perform their obligations under the sub-advisory contracts. The Board noted the cyclical and competitive

nature of the global asset management industry.&nbsp;&nbsp;&nbsp;&nbsp;

*F.* *Collateral Benefits to Invesco Advisers and its Affiliates*

The Board considered various other benefits received by Invesco Advisers and its affiliates from the relationship with each Fund, including the fees received for providing administrative, transfer agency and distribution services to each Fund. The Board received comparative information regarding fees charged for these services, including information provided by Broadridge and other independent sources. The Board reviewed the performance of Invesco Advisers and its affiliates in providing these services and the organizational structure employed to provide these services. The Board noted that these services are provided to each Fund pursuant to written contracts that are reviewed and subject to approval on an annual basis by the Board based on its reasonable business judgement and in accordance with applicable regulatory guidance.

\*Effective as of August 29, 2025, Invesco Asset Management Deutschland GmbH merged into Invesco Management S.A.

**19**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year-end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for their fiscal year ended August 31, 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Federal and State Income Tax** |  |  |  |  |  |
|  | **Business Interest** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Qualified Business** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Qualified Dividend** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Corporate** <br>**Dividends** <br>**Received** <br>**Deduction\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **U.S Treasury** <br>**Obligations\***<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp; 99.93% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

---

| | | |
|:---|:---|:---|
| **Non-Resident Alien Shareholders** |  |  |
|  | **Qualified** <br>**Short-Term Gains**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Qualified** <br>**Interest Income\*\***<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp; $2356 | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% |

---

\*\*

The above percentages are based on income dividends paid to shareholders during the Fund's fiscal year.

**20**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

The statement regarding basis for approval of investment advisory contracts can be found in the Approval of Investment Advisory and Sub-Advisory Contracts section of this report.

**21**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

![](imga3f2d3281.jpg)

SEC file numbers: 811-05460 and 033-19862

Invesco Distributors, Inc.

CM-I-TST-NCSR-PRV

------

![](imgcb0423471.jpg)

------

**Annual Financial Statements and Other Information**

**August 31, 2025**

**Reserve Class**

**AIM Treasurer's Series Trust**

**(Invesco Treasurer's Series Trust)**

Invesco Premier Portfolio

------

---

| | |
|:---|:---|
| [2](#xx_99d0c22a-f2a0-4706-959f-c0146e86aee3_SOI-Continued-479_1) | Schedule of Investments |
| [8](#xx_99d0c22a-f2a0-4706-959f-c0146e86aee3_FS-Continued-479_1) | Financial Statements |
| [11](#xx_99d0c22a-f2a0-4706-959f-c0146e86aee3_FS-Continued-479_4) | Financial Highlights |
| [12](#xx_99d0c22a-f2a0-4706-959f-c0146e86aee3_NTF-Continued-479_1) | Notes to Financial Statements |
| [16](#xx_99d0c22a-f2a0-4706-959f-c0146e86aee3_RIR-Continued-479_1) | Report of Independent Registered Public Accounting Firm |
| [17](#xx_99d0c22a-f2a0-4706-959f-c0146e86aee3_AOC-Continued-479_1) | Approval of Investment Advisory and Sub-Advisory Contracts |
| [20](#xx_99d0c22a-f2a0-4706-959f-c0146e86aee3_TI-Continued-479_1) | Tax Information |
| [21](#xx_99d0c22a-f2a0-4706-959f-c0146e86aee3_OIRSR-Continued-479_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments**

*August 31, 2025*

**Invesco Premier Portfolio**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  |
| **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** |
| BofA Securities, Inc. (SOFR + 0.43%)<sup>(b)</sup> <br>| 4.85% | 04/29/2026 | $25000 | &nbsp;&nbsp; $25000000 |
| BofA Securities, Inc. | 4.25% | 05/06/2026 | 50000 | &nbsp;&nbsp; 48586611 |
| BofA Securities, Inc. | 4.24% | 05/21/2026 | 10000 | &nbsp;&nbsp; 9700884 |
|  |  |  |  | &nbsp;&nbsp; 83287495 |
| **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** |
| Old Line Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.41% | 12/01/2025 | 50000 | &nbsp;&nbsp; 49456528 |
| Old Line Funding LLC (CEP-Royal Bank of Canada) (SOFR + 0.34%)<sup>(b)(c)(d)</sup> <br>| 4.76% | 06/04/2026 | 35000 | &nbsp;&nbsp; 35000000 |
| Old Line Funding LLC (CEP - Royal Bank of Canada) (SOFR + 0.35%)<sup>(b)(c)(d)</sup> <br>| 4.74% | 07/02/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Old Line Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.33% | 07/17/2026 | 50000 | &nbsp;&nbsp; 48161319 |
| Old Line Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.20% | 08/14/2026 | 40000 | &nbsp;&nbsp; 38446211 |
| Thunder Bay Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.20% | 08/14/2026 | 50000 | &nbsp;&nbsp; 48057764 |
|  |  |  |  | &nbsp;&nbsp; 269121822 |
| **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** |
| Atlantic Asset Securitization LLC (CEP-Credit Agricole Corporate & Investment Bank <br> S.A.)<sup>(c)(d)</sup> <br>| 4.43% | 01/21/2026 | 40000 | &nbsp;&nbsp; 39316822 |
| **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** |
| Anglesea Funding LLC (Multi-CEP's) (01 mo. OBFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.65% | 01/26/2026 | 80000 | &nbsp;&nbsp; 80000000 |
| Anglesea Funding LLC (Multi-CEP's) (01 mo. OBFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.70% | 02/11/2026 | 80000 | &nbsp;&nbsp; 80000000 |
| Anglesea Funding LLC (Multi-CEP's) (01 mo. OBFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.64% | 02/24/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Concord Minutemen Capital Co. LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.35% | 11/25/2025 | 61760 | &nbsp;&nbsp; 61132965 |
| Lexington Parker Capital Co. LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.35% | 09/02/2025 | 134132 | &nbsp;&nbsp; 134115792 |
| Mont Blanc Capital Corp. (CEP-ING Bank N.V.)<sup>(c)(d)</sup> <br>| 4.31% | 12/15/2025 | 30000 | &nbsp;&nbsp; 29628125 |
| Mountcliff Funding LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.49% | 09/04/2025 | 50000 | &nbsp;&nbsp; 49981500 |
| Mountcliff Funding LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.39% | 11/07/2025 | 100000 | &nbsp;&nbsp; 99190417 |
| Versailles Commercial Paper LLC (CEP-Natixis SA) (SOFR + 0.18%)<sup>(b)(c)(d)</sup> <br>| 4.60% | 10/22/2025 | 100000 | &nbsp;&nbsp; 100000000 |
|  |  |  |  | &nbsp;&nbsp; 684048799 |
| **Consumer Finance-0.51%** | **Consumer Finance-0.51%** | **Consumer Finance-0.51%** | **Consumer Finance-0.51%** | **Consumer Finance-0.51%** |
| Toyota Motor Credit Corp.<sup>(d)</sup> <br>| 4.45% | 12/04/2025 | 50000 | &nbsp;&nbsp; 49428167 |
| **Diversified Banks-16.13%** | **Diversified Banks-16.13%** | **Diversified Banks-16.13%** | **Diversified Banks-16.13%** | **Diversified Banks-16.13%** |
| ANZ New Zealand Int'l Ltd. (United Kingdom)<sup>(c)(d)</sup> <br>| 4.14% | 03/02/2026 | 50000 | &nbsp;&nbsp; 48959250 |
| Australia & New Zealand Banking Group Ltd. (Australia)<sup>(c)(d)</sup> <br>| 4.21% | 02/23/2026 | 65000 | &nbsp;&nbsp; 63696615 |
| Bank of New York Mellon (The) (SOFR + 0.18%)<sup>(b)</sup> <br>| 4.84% | 09/30/2025 | 60100 | &nbsp;&nbsp; 60100000 |
| Barclays Bank PLC (SOFR + 0.20%)<sup>(b)(c)(d)</sup> <br>| 4.69% | 09/12/2025 | 50000 | &nbsp;&nbsp; 50000000 |
| Barclays Bank PLC<sup>(c)(d)</sup> <br>| 4.50% | 11/17/2025 | 75000 | &nbsp;&nbsp; 74294166 |
| Barclays Bank PLC (SOFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.66% | 01/06/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| Barclays Bank PLC<sup>(c)(d)</sup> <br>| 4.29% | 02/20/2026 | 30000 | &nbsp;&nbsp; 29398000 |
| BNG Bank N.V. (Netherlands)<sup>(c)(d)</sup> <br>| 4.33% | 09/04/2025 | 200000 | &nbsp;&nbsp; 199927833 |
| Citigroup Global Markets, Inc.<sup>(c)</sup> <br>| 4.63% | 11/14/2025 | 25000 | &nbsp;&nbsp; 24772861 |
| Citigroup Global Markets, Inc. (SOFR + 0.22%)<sup>(b)(c)</sup> <br>| 4.65% | 12/19/2025 | 55000 | &nbsp;&nbsp; 55000000 |
| Citigroup Global Markets, Inc.<sup>(c)</sup> <br>| 4.37% | 05/14/2026 | 25000 | &nbsp;&nbsp; 24258021 |
| Citigroup Global Markets, Inc. (SOFR + 0.34%)<sup>(b)(c)</sup> <br>| 4.75% | 06/17/2026 | 75000 | &nbsp;&nbsp; 75000000 |
| Dexia S.A. (France)<sup>(c)(d)</sup> <br>| 4.39% | 10/23/2025 | 50000 | &nbsp;&nbsp; 49686556 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**2**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Diversified Banks-(continued)** | **Diversified Banks-(continued)** | **Diversified Banks-(continued)** | **Diversified Banks-(continued)** | **Diversified Banks-(continued)** |
| DNB Bank ASA (Norway)<sup>(c)(d)</sup> <br>| 4.59% | 11/12/2025 | $10000 | &nbsp;&nbsp; $9912200 |
| DNB Bank ASA (Norway)<sup>(c)(d)</sup> <br>| 4.33% | 04/20/2026 | 50000 | &nbsp;&nbsp; 48655708 |
| DNB Bank ASA (Norway)<sup>(c)(d)</sup> <br>| 4.27% | 07/07/2026 | 40000 | &nbsp;&nbsp; 38592333 |
| HSBC Bank PLC (SOFR + 0.36%) (United Kingdom)<sup>(b)(c)(d)</sup> <br>| 4.87% | 09/11/2025 | 25000 | &nbsp;&nbsp; 25000000 |
| HSBC Bank PLC (SOFR + 0.36%) (United Kingdom)<sup>(b)(c)(d)</sup> <br>| 4.89% | 09/25/2025 | 50000 | &nbsp;&nbsp; 49999666 |
| ING (US) Funding LLC<sup>(c)(d)</sup> <br>| 4.50% | 10/07/2025 | 50000 | &nbsp;&nbsp; 49785000 |
| ING (US) Funding LLC (SOFR + 0.24%)<sup>(b)(c)(d)</sup> <br>| 4.60% | 10/24/2025 | 51000 | &nbsp;&nbsp; 51000000 |
| ING US Funding LLC (SOFR + 0.33%)<sup>(b)(c)(d)</sup> <br>| 4.77% | 12/18/2025 | 25000 | &nbsp;&nbsp; 25000000 |
| ING US Funding LLC (SOFR + 0.26%)<sup>(b)(c)(d)</sup> <br>| 4.64% | 03/09/2026 | 25000 | &nbsp;&nbsp; 24997394 |
| ING US Funding LLC<sup>(c)(d)</sup> <br>| 4.43% | 05/01/2026 | 40000 | &nbsp;&nbsp; 38846467 |
| Lloyds Bank PLC (United Kingdom)<sup>(d)</sup> <br>| 4.24% | 02/09/2026 | 51445 | &nbsp;&nbsp; 50490195 |
| Lloyds Bank PLC (United Kingdom)<sup>(d)</sup> <br>| 4.24% | 02/11/2026 | 49600 | &nbsp;&nbsp; 48668002 |
| Lloyds Bank PLC (United Kingdom)<sup>(c)(d)</sup> <br>| 4.35% | 04/24/2026 | 50000 | &nbsp;&nbsp; 48625903 |
| National Australia Bank Ltd. (SOFR + 0.20%) (Australia)<sup>(b)(c)(d)</sup> <br>| 4.59% | 11/03/2025 | 75000 | &nbsp;&nbsp; 75000000 |
| Skandinaviska Enskilda Banken AB (Sweden)<sup>(c)(d)</sup> <br>| 4.50% | 10/29/2025 | 50000 | &nbsp;&nbsp; 49653611 |
| UBS AG (SOFR + 0.38%)<sup>(b)(c)(d)</sup> <br>| 4.78% | 05/15/2026 | 25000 | &nbsp;&nbsp; 25000000 |
| Westpac Banking Corp. (SOFR + 0.33%) (Australia)<sup>(b)(c)(d)</sup> <br>| 4.83% | 09/04/2025 | 50000 | &nbsp;&nbsp; 50000000 |
|  |  |  |  | &nbsp;&nbsp; 1564319781 |
| **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** |
| Collateralized Commercial Paper V Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.28%)<sup>(b)</sup> <br>| 4.72% | 12/16/2025 | 25000 | &nbsp;&nbsp; 25000000 |
| Collateralized Commercial Paper V Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.29%)<sup>(b)</sup> <br>| 4.74% | 02/09/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Collateralized Commercial Paper V Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.30%)<sup>(b)</sup> <br>| 4.71% | 03/10/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Endeavour Funding Co. LLC (CEP-HSBC Bank PLC)<sup>(c)(d)</sup> <br>| 4.38% | 09/02/2025 | 50000 | &nbsp;&nbsp; 49993917 |
| Great Bear Funding LLC (CEP - Bank of Nova Scotia) (01 mo. OBFR + 0.23%)<sup>(b)(d)</sup> <br>| 4.69% | 02/23/2026 | 95000 | &nbsp;&nbsp; 95000000 |
| Great Bear Funding LLC (CEP - Bank of Nova Scotia) (01 mo. OBFR + 0.26%)<sup>(b)(d)</sup> <br>| 4.64% | 04/30/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Lion Bay Funding LLC (Multi-CEP's) (SOFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.72% | 12/15/2025 | 50000 | &nbsp;&nbsp; 50000000 |
| Mackinac Funding Co. LLC (CEP-BNP Paribas SA)<sup>(c)(d)</sup> <br>| 4.48% | 09/04/2025 | 75000 | &nbsp;&nbsp; 74972312 |
| Park Avenue Collateralized Notes Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.36%)<sup>(b)(c)</sup> <br>| 4.83% | 01/27/2026 | 25000 | &nbsp;&nbsp; 25000000 |
| UBS AG<sup>(c)(d)</sup> <br>| 4.47% | 10/08/2025 | 25000 | &nbsp;&nbsp; 24890028 |
| UBS AG (SOFR + 0.39%)<sup>(b)(c)(d)</sup> <br>| 4.82% | 12/01/2025 | 50000 | &nbsp;&nbsp; 50000000 |
| UBS AG (SOFR + 0.39%)<sup>(b)(c)(d)</sup> <br>| 4.85% | 01/02/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| UBS AG (SOFR + 0.32%)<sup>(b)(c)(d)</sup> <br>| 4.73% | 03/02/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| UBS AG (SOFR + 0.37%)<sup>(b)(c)(d)</sup> <br>| 4.79% | 06/17/2026 | 35000 | &nbsp;&nbsp; 35000000 |
|  |  |  |  | &nbsp;&nbsp; 729856257 |
| **Regional Banks-2.06%** | **Regional Banks-2.06%** | **Regional Banks-2.06%** | **Regional Banks-2.06%** | **Regional Banks-2.06%** |
| ASB Bank Ltd. (SOFR + 0.35%) (New Zealand)<sup>(b)(c)(d)</sup> <br>| 4.79% | 02/17/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| ASB Bank Ltd. (SOFR + 0.32%) (New Zealand)<sup>(b)(c)(d)</sup> <br>| 4.78% | 02/27/2026 | 100000 | &nbsp;&nbsp; 100000000 |
|  |  |  |  | &nbsp;&nbsp; 200000000 |
| **Specialized Finance-5.60%** | **Specialized Finance-5.60%** | **Specialized Finance-5.60%** | **Specialized Finance-5.60%** | **Specialized Finance-5.60%** |
| Aquitaine Funding Co. LLC (CEP-Societe Generale S.A.)<sup>(c)(d)</sup> <br>| 4.40% | 09/02/2025 | 200000 | &nbsp;&nbsp; 199975555 |
| Aquitaine Funding Co. LLC (CEP-Societe Generale S.A.)<sup>(c)(d)</sup> <br>| 4.50% | 09/03/2025 | 100000 | &nbsp;&nbsp; 99975278 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**3**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** |
| Cabot Trail Funding LLC (CEP-Toronto-Dominion Bank) (SOFR + 0.18%)<sup>(b)(d)</sup> <br>| 4.67% | 09/05/2025 |  | $30000 | &nbsp;&nbsp; $30000000 |
| CDP Financial, Inc. (Canada)<sup>(c)(d)</sup> <br>| 4.51% | 01/08/2026 |  | 50000 | &nbsp;&nbsp; 49227792 |
| CDP Financial, Inc. (Canada)<sup>(c)(d)</sup> <br>| 4.53% | 02/03/2026 |  | 65000 | &nbsp;&nbsp; 63788201 |
| Concord Minutemen Capital Co. LLC (CEP-Goldman Sachs International) (SOFR + 0.30%)<sup>(b)(c)</sup> <br>| 4.65% | 12/23/2025 |  | 35000 | &nbsp;&nbsp; 35000000 |
| Concord Minutemen Capital Co. LLC (CEP-Goldman Sachs International)<sup>(c)</sup> <br>| 4.33% | 02/25/2026 |  | 15000 | &nbsp;&nbsp; 14688037 |
| Podium Funding Trust (CEP-Bank of Montreal) (SOFR + 0.34%) (Canada)<sup>(b)(d)</sup> <br>| 4.69% | 03/05/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
|  |  |  |  |  | &nbsp;&nbsp; 542654863 |
| Total Commercial Paper (Cost $4,162,034,006) | Total Commercial Paper (Cost $4,162,034,006) | Total Commercial Paper (Cost $4,162,034,006) | Total Commercial Paper (Cost $4,162,034,006) |  | &nbsp;&nbsp; 4162034006 |
| **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** |
| Australia & New Zealand Banking Group Ltd. (Cayman Islands)<sup>(d)</sup> <br>| 4.32% | 09/02/2025 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Bank of America N.A. | 4.49% | 01/07/2026 |  | 75000 | &nbsp;&nbsp; 75000000 |
| Bank of America N.A. | 4.24% | 03/02/2026 |  | 25000 | &nbsp;&nbsp; 25000000 |
| Bank of America N.A. (SOFR + 0.34%)<sup>(b)</sup> <br>| 4.70% | 04/27/2026 |  | 80000 | &nbsp;&nbsp; 80000000 |
| Barclays Bank PLC (SOFR + 0.35%) (United Kingdom)<sup>(b)(d)</sup> <br>| 4.69% | 10/15/2025 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Canadian Imperial Bank of Commerce (Canada)<sup>(d)</sup> <br>| 4.32% | 09/02/2025 |  | 90000 | &nbsp;&nbsp; 90000000 |
| Canadian Imperial Bank of Commerce (SOFR + 0.36%) (Canada)<sup>(b)(d)</sup> <br>| 4.70% | 11/17/2025 |  | 41000 | &nbsp;&nbsp; 41000000 |
| Canadian Imperial Bank of Commerce (SOFR + 0.40%) (Canada)<sup>(b)(d)</sup> <br>| 4.74% | 09/08/2026 |  | 80000 | &nbsp;&nbsp; 80000000 |
| Citibank N.A. (SOFR + 0.35%)<sup>(b)</sup> <br>| 4.69% | 10/27/2025 |  | 75000 | &nbsp;&nbsp; 75000000 |
| Cooperatieve Rabobank U.A. (Cayman Islands)<sup>(d)</sup> <br>| 4.32% | 09/02/2025 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Credit Agricole Corporate and Investment Bank<sup>(d)</sup> <br>| 4.34% | 04/30/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Credit Agricole Corporate And Investment Bank<sup>(d)</sup> <br>| 4.31% | 09/02/2025 |  | 200000 | &nbsp;&nbsp; 200000000 |
| KEB Hana Bank<sup>(d)</sup> <br>| 4.42% | 12/15/2025 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Korea Development Bank<sup>(d)</sup> <br>| 4.26% | 03/02/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Mitsubishi UFJ Trust & Banking Corp. (SOFR + 0.23%) (Japan)<sup>(b)(d)</sup> <br>| 4.57% | 12/11/2025 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Mitsubishi UFJ Trust & Banking Corp. (SOFR + 0.22%)<sup>(b)(d)</sup> <br>| 4.56% | 02/06/2026 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Mizuho Bank Ltd.<sup>(d)</sup> <br>| 4.33% | 09/02/2025 |  | 30000 | &nbsp;&nbsp; 30000000 |
| Mizuho Bank Ltd.<sup>(d)</sup> <br>| 4.33% | 09/02/2025 |  | 220000 | &nbsp;&nbsp; 220000000 |
| Mizuho Bank Ltd.<sup>(d)</sup> <br>| 4.36% | 09/02/2025 |  | 200000 | &nbsp;&nbsp; 200000000 |
| Standard Chartered Bank (SOFR + 0.26%) (United Kingdom)<sup>(b)(d)</sup> <br>| 4.60% | 02/06/2026 |  | 90000 | &nbsp;&nbsp; 90000000 |
| Sumitomo Mitsui Banking Corp. (SOFR + 0.22%)<sup>(b)(d)</sup> <br>| 4.56% | 02/26/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Swedbank AB<sup>(d)</sup> <br>| 4.31% | 04/24/2026 |  | 25000 | &nbsp;&nbsp; 25000000 |
| Toronto-Dominion Bank (Canada)<sup>(d)</sup> <br>| 4.38% | 07/09/2026 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Total Certificates of Deposit (Cost $1,981,000,000) | Total Certificates of Deposit (Cost $1,981,000,000) | Total Certificates of Deposit (Cost $1,981,000,000) | Total Certificates of Deposit (Cost $1,981,000,000) |  | &nbsp;&nbsp; 1981000000 |
| **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  |
| **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** |
| Altoona-Blair County Development Corp.; Series 2015, VRD Bonds (LOC - PNC Bank, <br> N.A.)<sup>(c)(f)</sup> <br>| 4.41% | 04/01/2035 |  | 17850 | &nbsp;&nbsp; 17850000 |
| Jets Stadium Development LLC; Series 2014 A-4B, VRD Bonds (LOC - Sumitomo Mitsui <br> Banking Corp.)<sup>(c)(d)(f)</sup> <br>| 4.80% | 04/01/2047 |  | 12600 | &nbsp;&nbsp; 12600000 |
| Jets Stadium Development LLC; Series 2014 A-4C, VRD Bonds (LOC - Sumitomo Mitsui <br> Banking Corp.)<sup>(c)(d)(f)</sup> <br>| 4.80% | 04/01/2047 |  | 27300 | &nbsp;&nbsp; 27300000 |
| Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank, N.A.)<sup>(f)</sup> <br>| 4.42% | 05/01/2037 |  | 13160 | &nbsp;&nbsp; 13160000 |
| Ziegler Realty LLC; Series 2007, VRD Notes (LOC - Wells Fargo Bank, N.A.)<sup>(c)(f)</sup> <br>| 4.48% | 01/01/2033 |  | 3800 | &nbsp;&nbsp; 3800000 |
|  |  |  |  |  | &nbsp;&nbsp; 74710000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**4**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** |
| Board of Regents of the University of Texas System; Series 2016, RB | 4.32% | 08/01/2045 |  | $27550 | &nbsp;&nbsp; $27550000 |
| Total Variable Rate Demand Notes (Cost $102,260,000) | Total Variable Rate Demand Notes (Cost $102,260,000) | Total Variable Rate Demand Notes (Cost $102,260,000) | Total Variable Rate Demand Notes (Cost $102,260,000) |  | &nbsp;&nbsp; 102260000 |
| TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) |  | &nbsp;&nbsp; 6245294006 |
|  |  |  | &nbsp;&nbsp; **Repurchase**<br> **Amount** | &nbsp;&nbsp; **Repurchase**<br> **Amount** |  |
| **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  |
| ABN AMRO Bank N.V., joint agreement dated 08/29/2025, aggregate maturing value of <br> $550,265,222 (collateralized by agency mortgage-backed securities and U.S. Treasury <br> obligations valued at $561,000,046; 0.38% - 7.00%; 04/30/2026 - 08/20/2055)<br>| 4.34% | 09/02/2025 |  | 100048222 | &nbsp;&nbsp; 100000000 |
| Bank of Nova Scotia, joint term agreement dated 08/25/2025, aggregate maturing value <br> of $400,397,666 (collateralized by corporate obligations and non-agency asset-backed <br> securities valued at $420,365,362; 2.26% - 10.08%; 05/01/2027 - <br> 11/22/2052)<sup>(d)(h)(i)</sup> <br>| 4.48% | 09/02/2025 |  | 50049708 | &nbsp;&nbsp; 50000000 |
| Bank of Nova Scotia, joint term agreement dated 08/25/2025, aggregate maturing value <br> of $600,600,500 (collateralized by equity securities valued at $630,378,305; <br> 0.00%)<sup>(d)(h)(i)</sup> <br>| 4.51% | 09/02/2025 |  | 240240200 | &nbsp;&nbsp; 240000000 |
| BMO Capital Markets Corp., joint term agreement dated 08/29/2025, aggregate maturing <br> value of $125,550,521 (collateralized by agency and non-agency asset-backed <br> securities, corporate obligations and non-agency mortgage-backed securities valued at <br> $133,974,061; 0.00% - 12.57%; 03/15/2027 - 08/25/2070)<sup>(d)(i)</sup> <br>| 4.53% | 10/03/2025 |  | 60264250 | &nbsp;&nbsp; 60000000 |
| BMO Capital Markets Corp., joint term agreement dated 08/29/2025, aggregate maturing <br> value of $577,515,625 (collateralized by corporate obligations, non-agency <br> asset-backed securities and non-agency mortgage-backed securities valued at <br> $603,750,677; 0.00% - 9.57%; 04/15/2026 - 05/25/2070)<sup>(d)(i)</sup> <br>| 4.50% | 10/03/2025 |  | 145634375 | &nbsp;&nbsp; 145000000 |
| BNP Paribas Securities Corp., joint term agreement dated 06/25/2025, aggregate <br> maturing value of $300,155,334 (collateralized by corporate obligations and <br> non-agency asset-backed securities valued at $329,765,156; 1.86% - 13.00%; <br> 02/15/2026 - 01/15/2084)<sup>(d)(h)(i)</sup> <br>| 4.66% | 09/02/2025 |  | 100051778 | &nbsp;&nbsp; 100000000 |
| BNP Paribas Securities Corp., joint term agreement dated 07/10/2025, aggregate <br> maturing value of $2,501,233,333 (collateralized by agency mortgage-backed <br> securities, U.S. government sponsored agency obligations and U.S. Treasury obligations <br> valued at $2,550,000,006; 0.00% - 8.00%; 09/04/2025 - 04/20/2065)<sup>(h)(i)</sup> <br>| 4.44% | 09/02/2025 |  | 45022200 | &nbsp;&nbsp; 45000000 |
| BNP Paribas Securities Corp., joint term agreement dated 07/30/2025, aggregate <br> maturing value of $300,153,666 (collateralized by agency and non-agency <br> mortgage-backed securities, corporate obligations and non-agency asset-backed <br> securities valued at $315,000,001; 0.63% - 8.75%; 09/12/2025 - <br> 10/31/2082)<sup>(d)(h)(i)</sup> <br>| 4.61% | 09/02/2025 |  | 150076833 | &nbsp;&nbsp; 150000000 |
| BNP Paribas Securities Corp., joint term agreement dated 08/27/2025, aggregate <br> maturing value of $300,258,417 (collateralized by corporate obligations, non-agency <br> asset-backed securities and non-agency mortgage-backed securities valued at <br> $315,000,489; 0.63% - 9.25%; 09/01/2025 - 07/01/2116)<sup>(d)(i)</sup> <br>| 4.43% | 09/03/2025 |  | 100086139 | &nbsp;&nbsp; 100000000 |
| Citigroup Global Markets, Inc., joint agreement dated 08/29/2025, aggregate maturing <br> value of $1,000,481,111 (collateralized by U.S. Treasury obligations valued at <br> $1,020,119,984; 0.13% - 6.25%; 04/30/2030 - 07/31/2030)<br>| 4.33% | 09/02/2025 |  | 250120278 | &nbsp;&nbsp; 250000000 |
| Credit Agricole Corporate & Investment Bank, joint open agreement dated 08/14/2025 <br> (collateralized by commercial paper, corporate obligations, non-agency asset-backed <br> securities and non-agency mortgage-backed securities valued at $317,082,606; <br> 0.00% - 9.50%; 09/21/2025 - 08/25/2067)<sup>(d)(j)</sup> <br>| 4.46% | 09/02/2025 |  | 50117250 | &nbsp;&nbsp; 50000000 |
| ING Financial Markets, LLC, joint agreement dated 08/29/2025, aggregate maturing value <br> of $400,195,556 (collateralized by equity securities valued at $420,000,006; <br> 0.00%)<sup>(d)</sup> <br>| 4.40% | 09/02/2025 |  | 90044000 | &nbsp;&nbsp; 90000000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**5**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Repurchase**<br> **Amount** | &nbsp;&nbsp; **Repurchase**<br> **Amount** | **Value** |
| J.P. Morgan Securities LLC, open agreement dated 07/17/2024 (collateralized by <br> commercial paper and corporate obligations valued at $192,499,391; 0.00% - <br> 12.50%; 04/30/2026 - 08/30/2033)<sup>(j)</sup> <br>| 4.63% | 09/02/2025 |  | $175720222 | &nbsp;&nbsp; $175000000 |
| Mitsubishi UFJ Trust & Banking Corp., agreement dated 08/29/2025, maturing value of <br> $50,024,667 (collateralized by agency mortgage-backed securities valued at <br> $51,000,000; 4.77% - 5.54%; 09/16/2044 - 04/20/2072)<sup>(d)</sup> <br>| 4.44% | 09/02/2025 |  | 50024667 | &nbsp;&nbsp; 50000000 |
| Mizuho Securities (USA) LLC, joint open agreement dated 05/05/2025 (collateralized by <br> equity securities valued at $84,000,230; 0.00%)<sup>(d)(j)</sup> <br>| 4.48% | 09/02/2025 |  | 30014933 | &nbsp;&nbsp; 30000000 |
| RBC Capital Markets LLC, joint term agreement dated 08/26/2025, aggregate maturing <br> value of $150,131,250 (collateralized by corporate obligations valued at <br> $164,656,880; 0.00% - 12.75%; 09/01/2025 - 10/01/2097)<sup>(d)(i)</sup> <br>| 4.50% | 09/02/2025 |  | 30026250 | &nbsp;&nbsp; 30000000 |
| Societe Generale, open agreement dated 07/17/2024 (collateralized by corporate <br> obligations, non-agency asset-backed securities, non-agency mortgage-backed <br> securities and U.S. Treasury obligations valued at $86,609,925; 0.00% - 13.50%; <br> 09/15/2025 - 08/15/2076)<sup>(d)(j)</sup> <br>| 4.51% | 09/02/2025 |  | 80040089 | &nbsp;&nbsp; 80000000 |
| Standard Chartered Bank, joint agreement dated 08/29/2025, aggregate maturing value <br> of $4,001,924,444 (collateralized by U.S. Treasury obligations valued at <br> $4,081,962,968; 0.00% - 4.88%; 10/02/2025 - 02/15/2054)<br>| 4.33% | 09/02/2025 |  | 1453776621 | &nbsp;&nbsp; 1453077529 |
| TD Securities (USA) LLC, joint term agreement dated 08/26/2025, aggregate maturing <br> value of $250,214,375 (collateralized by corporate obligations valued at <br> $262,504,831; 1.05% - 6.00%; 09/14/2026 - 06/30/2059)<sup>(d)(i)</sup> <br>| 4.41% | 09/02/2025 |  | 50042875 | &nbsp;&nbsp; 50000000 |
| Wells Fargo Securities, LLC, term agreement dated 08/29/2025, maturing value of <br> $278,698,139 (collateralized by corporate obligations, non-agency asset-backed <br> securities and a non-agency mortgage-backed security valued at $294,801,020; <br> 0.00% - 22.00%; 09/01/2025 - 07/15/2060)<br>| 4.94% | 12/05/2025 |  | 278698139 | &nbsp;&nbsp; 275000000 |
| Total Repurchase Agreements (Cost $3,523,077,529) | Total Repurchase Agreements (Cost $3,523,077,529) | Total Repurchase Agreements (Cost $3,523,077,529) | Total Repurchase Agreements (Cost $3,523,077,529) |  | &nbsp;&nbsp; 3523077529 |
| TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) | TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) | TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) | TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) |  | &nbsp;&nbsp; 9768371535 |
| OTHER ASSETS LESS LIABILITIES-(0.71)% | OTHER ASSETS LESS LIABILITIES-(0.71)% | OTHER ASSETS LESS LIABILITIES-(0.71)% | OTHER ASSETS LESS LIABILITIES-(0.71)% |  | &nbsp;&nbsp; (68768937)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% |  | &nbsp;&nbsp; $9699602598 |

---

Investment Abbreviations:

---

| | |
|:---|:---|
| CEP | -Credit Enhancement Provider |
| LOC | -Letter of Credit |
| OBFR | -Overnight Bank Funding Rate |
| RB | -Revenue Bonds |
| SOFR | -Secured Overnight Financing Rate |
| VRD | -Variable Rate Demand |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**6**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

Notes to Schedule of Investments:

<sup>(a)</sup> Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.

<sup>(b)</sup> Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2025.

<sup>(c)</sup> Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at August 31, 2025 was $3,581,610,147, which represented 36.93% of the Fund's Net Assets. 

<sup>(d)</sup> The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: Canada: 17.6%; France: 15.8%; Japan: 9.0%; United Kingdom: 8.0%; Netherlands: 6.3%; other countries less than 5% each: 11.8%. 

<sup>(e)</sup> Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on August 31, 2025. 

<sup>(f)</sup> Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

<sup>(g)</sup> Principal amount equals value at period end. See Note 1J.

<sup>(h)</sup> Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

<sup>(i)</sup> The Fund may demand payment of the term repurchase agreement upon one to seven business days' notice depending on the timing of the demand.

<sup>(j)</sup> Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date. 

<sup>(k)</sup> Also represents cost for federal income tax purposes.

<sup>(l)</sup> Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer's obligations but may be called upon to satisfy the issuer's obligations. No concentration of any single entity was greater than 5% each. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**7**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Statement of Assets and Liabilities**

*August 31, 2025*

---

| | |
|:---|:---|
|  | **Invesco Premier** <br>**Portfolio**<br>|
| **Assets:** | **Assets:** |
| Investments in unaffiliated securities, at value | &nbsp;&nbsp; $6245294006 |
| Repurchase agreements, at value and cost | &nbsp;&nbsp; 3523077529 |
| Cash | &nbsp;&nbsp; 261350 |
| Receivable for: |  |
| Fund shares sold | &nbsp;&nbsp; 29883069 |
| Interest | &nbsp;&nbsp; 16933963 |
| Fund expenses absorbed | &nbsp;&nbsp; 568309 |
| Investment for trustee deferred compensation and retirement plans | &nbsp;&nbsp; 680307 |
| Total assets | &nbsp;&nbsp; 9816698533 |
| **Liabilities:** | **Liabilities:** |
| Payable for: |  |
| Investments purchased | &nbsp;&nbsp; 98959250 |
| Fund shares reacquired | &nbsp;&nbsp; 12993947 |
| Dividends | &nbsp;&nbsp; 2429468 |
| Accrued fees to affiliates | &nbsp;&nbsp; 2032963 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 680307 |
| Total liabilities | &nbsp;&nbsp; 117095935 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $9699602598 |
| **Net assets consist of:** | **Net assets consist of:** |
| Shares of beneficial interest | &nbsp;&nbsp; $9699475127 |
| Distributable earnings (loss) | &nbsp;&nbsp; 127471 |
|  | &nbsp;&nbsp; $9699602598 |
| **Net Assets:** | **Net Assets:** |
| Institutional Class | &nbsp;&nbsp; $9414960740 |
| Investor Class | &nbsp;&nbsp; $283867086 |
| Personal Investment Class | &nbsp;&nbsp; $11835 |
| Private Investment Class | &nbsp;&nbsp; $27694 |
| Reserve Class | &nbsp;&nbsp; $11593 |
| Resource Class | &nbsp;&nbsp; $723650 |
| **Shares outstanding, no par value,** <br>**unlimited number of shares authorized:** | **Shares outstanding, no par value,** <br>**unlimited number of shares authorized:** |
| Institutional Class | &nbsp;&nbsp; 9414516475 |
| Investor Class | &nbsp;&nbsp; 283856455 |
| Personal Investment Class | &nbsp;&nbsp; 11834 |
| Private Investment Class | &nbsp;&nbsp; 27692 |
| Reserve Class | &nbsp;&nbsp; 11592 |
| Resource Class | &nbsp;&nbsp; 723615 |
| Net asset value, offering and redemption price per share for each class | &nbsp;&nbsp; $1.00 |
| Cost of Investments | &nbsp;&nbsp; $9768371535 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**8**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Statement of Operations**

*For the year ended August 31, 2025*

---

| | |
|:---|:---|
|  | **Invesco Premier** <br>**Portfolio**<br>|
| **Investment income:** |  |
| Interest | &nbsp;&nbsp; $407012230 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 21719795 |
| Distribution fees: |  |
| Personal Investment Class | &nbsp;&nbsp; 71880 |
| Private Investment Class | &nbsp;&nbsp; 81 |
| Reserve Class | &nbsp;&nbsp; 99 |
| Resource Class | &nbsp;&nbsp; 1131 |
| Professional services fees | &nbsp;&nbsp; (2968)<br>|
| Total expenses | &nbsp;&nbsp; 21790018 |
| Less: Fees waived | &nbsp;&nbsp; (6081509)<br>|
| Net expenses | &nbsp;&nbsp; 15708509 |
| Net investment income | &nbsp;&nbsp; 391303721 |
| Net realized gain from unaffiliated investment securities | &nbsp;&nbsp; 2356 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $391306077 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**9**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Statement of Changes in Net Assets**

*For the years ended August 31, 2025 and 2024*

---

| | | |
|:---|:---|:---|
|  | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** |
|  | **2025** | **2024** |
| **Operations:** | **Operations:** | **Operations:** |
| Net investment income | &nbsp;&nbsp; $391303721 | &nbsp;&nbsp; $346325123 |
| Net realized gain | &nbsp;&nbsp; 2356 | &nbsp;&nbsp; 20533 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 391306077 | &nbsp;&nbsp; 346345656 |
| **Distributions to shareholders from distributable earnings:** | **Distributions to shareholders from distributable earnings:** | **Distributions to shareholders from distributable earnings:** |
| Institutional Class | &nbsp;&nbsp; (381517915)<br>| &nbsp;&nbsp; (337282614)<br>|
| Investor Class | &nbsp;&nbsp; (9233389)<br>| &nbsp;&nbsp; (8535442)<br>|
| Personal Investment Class | &nbsp;&nbsp; (520037)<br>| &nbsp;&nbsp; (469960)<br>|
| Private Investment Class | &nbsp;&nbsp; (1143)<br>| &nbsp;&nbsp; (1317)<br>|
| Reserve Class | &nbsp;&nbsp; (415)<br>| &nbsp;&nbsp; (494)<br>|
| Resource Class | &nbsp;&nbsp; (30822)<br>| &nbsp;&nbsp; (35296)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (391303721)<br>| &nbsp;&nbsp; (346325123)<br>|
| **Share transactions-net:** | **Share transactions-net:** | **Share transactions-net:** |
| Institutional Class | &nbsp;&nbsp; 1849359762 | &nbsp;&nbsp; 2790848017 |
| Investor Class | &nbsp;&nbsp; 131397110 | &nbsp;&nbsp; (5997098)<br>|
| Personal Investment Class | &nbsp;&nbsp; (13619385)<br>| &nbsp;&nbsp; 6526699 |
| Private Investment Class | &nbsp;&nbsp; 1256 | &nbsp;&nbsp; 1313 |
| Reserve Class | &nbsp;&nbsp; 458 | &nbsp;&nbsp; 494 |
| Resource Class | &nbsp;&nbsp; 33862 | &nbsp;&nbsp; 35168 |
| Net increase in net assets resulting from share transactions | &nbsp;&nbsp; 1967173063 | &nbsp;&nbsp; 2791414593 |
| Net increase in net assets | &nbsp;&nbsp; 1967175419 | &nbsp;&nbsp; 2791435126 |
| **Net assets:** | **Net assets:** | **Net assets:** |
| Beginning of year | &nbsp;&nbsp; 7732427179 | &nbsp;&nbsp; 4940992053 |
| End of year | &nbsp;&nbsp; $9699602598 | &nbsp;&nbsp; $7732427179 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**10**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Financial Highlights**

The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.

**Reserve Class** 

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income**<sup>(a)</sup> <br>| **Net gains** <br>**on securities** <br>**(realized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or expense** <br>**reimbursements**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or expense** <br>**reimbursements**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**to average** <br>**net assets**<br>|
| **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** |
| Year ended 08/31/25 | $1.00 | $0.04 | $0.00 | $0.04 | $(0.04)<br>| $1.00 | 3.73<br> %<br>| $12 | 1.05<br> %<br>| 1.12<br> %<br>| 3.63<br> %<br>|
| Year ended 08/31/24 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| 1.00 | 4.64 | 11 | 1.05 | 1.12 | 4.52 |
| Year ended 08/31/23 | 1.00 | 0.04 | (0.00)<br>| 0.04 | (0.04)<br>| 1.00 | 3.61 | 11 | 1.05 | 1.12 | 3.75 |
| Year ended 08/31/22 | 1.00 | 0.00 | 0.00 | 0.00 | (0.00)<br>| 1.00 | 0.21 | 10 | 0.47 | 1.12 | 0.32 |
| Year ended 08/31/21 | 1.00 | 0.00 | 0.00 | 0.00 | (0.00)<br>| 1.00 | 0.01 | 10 | 0.20 | 1.12 | 0.05 |

---

<sup>(a)</sup> Calculated using average shares outstanding. <br> <sup>(b)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**11**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Notes to Financial Statements**

*August 31, 2025*

**NOTE 1—Significant Accounting Policies**

Invesco Premier Portfolio (the "Fund") is a series of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) (the "Trust"). The Trust is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company consisting of two separate portfolios and authorized to issue an unlimited number of shares of beneficial interest. The assets, liabilities and operations of the portfolio are accounted for separately. Information presented in these financial statements pertains only to the Fund. Matters affecting the portfolio or class will be voted on exclusively by the shareholders of such portfolio or class.

The Fund's investment objective is to provide current income consistent with preservation of capital and liquidity.

The Fund currently consists of six classes of shares: Investor Class, Institutional Class, Private Investment Class, Personal Investment Class, Reserve Class and Resource Class. Investor Class shares of the Fund are available only to certain investors. Each class of shares is sold at net asset value.

The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, Financial Services – Investment Companies.

The Fund is a "retail money market fund" as defined in Rule 2a-7 under the 1940 Act (the "Rule"), and seeks to maintain a stable or constant NAV of $1.00 per share using an amortized cost method of valuation. "Retail money market funds" are required to adopt policies and procedures reasonably designed to limit investments in the Fund to accounts beneficially owned by natural persons.

The Fund may impose a fee upon the sale of shares.

The following is a summary of the significant accounting policies followed by the Fund in the preparation of their financial statements.

**A.** **Security Valuations** — The Fund's securities are recorded on the basis of amortized cost which approximates value as permitted by the Rule. This method values a security at its cost on the date of purchase and, thereafter, assumes a constant amortization to maturity of any premiums or accretion of any discounts.

Securities for which market quotations are not readily available are fair valued by Invesco Advisers, Inc. (the "Adviser" or "Invesco") in accordance with Board-approved policies and related Adviser procedures ("Valuation Procedures"). If a fair value price provided by a pricing service is unreliable in the Adviser's judgment, the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value.

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.

The Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.

**B.** **Securities Transactions and Investment Income** — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on the accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.

The Fund may periodically participate in litigation related to the Fund's investments. As such, the Fund may receive proceeds from litigation settlements involving the Fund's investments. 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 gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the investment adviser.

The Fund allocates realized capital gains and losses to a class based on the relative net assets of the class. The Fund allocates income to a class based on the relative settled shares of the class.

**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, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, 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.** **Distributions** - It is the policy of the Fund to declare dividends from net investment income, if any, daily and pay them monthly. The Fund generally distributes net realized capital gain (including net short-term capital gain), if any, annually.

**E.** **Federal Income Taxes** — The Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Fund's

**12**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

taxable earnings to shareholders. As such, the Fund will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.

The Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

**F.** **Expenses** – Fees provided for under the Rule 12b-1 plan of a particular class of the Fund and which are directly attributable to that class are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative settled shares.

**G.** **Accounting Estimates** - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**H.** **Indemnifications** - Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against such Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**I.** **Segment Reporting** — In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), with the intent of improving reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole, thereby enabling better understanding of how an entity's segments impact overall performance. The Fund represents a single operating segment. Subject to the oversight and, when applicable, approval of the Board of Trustees, the Adviser acts as the Fund's chief operating decision maker ("CODM"), assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements. Adoption of the new standard impacted the Fund's financial statement note disclosures only and did not affect the Fund's financial position or the results of its operations.

**J.** **Repurchase Agreements -** The Fund may enter into repurchase agreements. Collateral on repurchase agreements, including the Fund's pro-rata interest in joint repurchase agreements, is taken into possession by the Fund upon entering into the repurchase agreement. Collateral consisting of U.S. Government Securities and U.S. Government Sponsored Agency Securities is marked to market daily to ensure its market value is typically at least 102% of the sales price of the repurchase agreement. Collateral consisting of non-government securities is marked to market daily to ensure its market value is typically at least 105% of the sales price of the repurchase agreement. The investments in some repurchase agreements, pursuant to procedures approved by the Board of Trustees, are through participation with other mutual funds, private accounts and certain non-registered investment companies managed by the investment advisor or its affiliates ("Joint repurchase agreements"). The principal amount of the repurchase agreement is equal to the value at period-end. If the seller of a repurchase agreement fails to repurchase the security in accordance with the terms of the agreement, the Fund might incur expenses in enforcing its rights, and could experience losses, including a decline in the value of the collateral and loss of income.

**K.** **Other Risks** - The effect on performance from investing in securities issued or guaranteed by companies in the banking and financial services industries will depend to a greater extent on the overall condition of those industries. Financial services companies are highly dependent on the supply of short-term financing. The value of securities of issuers in the banking and financial services industry can be sensitive to changes in government regulation and interest rates and to economic downturns in the United States and abroad.

U.S. dollar-denominated securities carrying foreign credit exposure may be affected by unfavorable political, economic or governmental developments that could affect payments of principal and interest.

**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, the Fund accrues daily and pays monthly an advisory fee to the Adviser at an annual rate of 0.25% of the Fund's average daily net assets. Pursuant to the master investment advisory agreement, the Adviser bears all expenses incurred by the Fund in connection with its operations, except for (1) interest, taxes and extraordinary items such as litigation costs; (2) brokers' commissions, issue and transfer taxes, and other costs chargeable to the Fund in connection with securities transactions to which the Fund is a party or in connection with securities owned by the Fund; and (3) other expenditures which are capitalized in accordance with generally accepted accounting principles applicable to investment companies.

Under the terms of a master sub-advisory agreement between the Adviser to the Fund and each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Inc., Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and a separate sub-advisory agreement with Invesco Capital Management LLC (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Sub-Adviser(s).

The Adviser has contractually agreed, through at least December 31, 2025, to waive advisory fees equal to 0.07% of the average daily net assets of the Fund.

**13**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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For the year ended August 31, 2025, the Adviser waived advisory fees and/or reimbursed Fund expenses in the following amounts:

---

| | |
|:---|:---|
| Invesco Premier Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; $6081509 |

---

The Trust has entered into a master administrative services agreement with Invesco to provide accounting services to the Fund. The Trust has also entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") to provide transfer agency and shareholder services to the Fund. Invesco and IIS do not charge the Fund any fees under these agreements. Also, Invesco has entered into a sub-administration agreement whereby The Bank of New York Mellon ("BNY") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, BNY also serves as the Fund's custodian.

The Trust has entered into master distribution agreements with IDI to serve as the distributor for the Investor Class, Institutional Class, Personal Investment Class, Private Investment Class, Reserve Class and Resource Class shares. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Personal Investment Class, Private Investment Class, Reserve Class and Resource Class shares (collectively, the "Plans"). The Fund, pursuant to the Plans, pays IDI compensation at the annual rate of 0.55% of the Fund's average daily net assets of Personal Investment Class shares, 0.30% of the average daily net assets of Private Investment Class shares, 0.87% of the average daily net assets of Reserve Class shares and 0.16% of the average daily net assets of Resource Class shares. The fees are accrued daily and paid monthly. Of the Plan payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such class. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended August 31, 2025, expenses incurred under the plans are shown in the Statement of Operations as *Distribution fees*.

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

**NOTE 3—Additional Valuation Information**

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

Level 1 — Prices are determined using quoted prices in an active market for identical assets.

Level 2 — Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.

Level 3 — Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Adviser's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

As of August 31, 2025, all of the securities in the Fund were valued based on Level 2 inputs (see the Schedule of Investments for security categories). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

**NOTE 4—Trustees' and Officers' Fees and Benefits**

Remuneration is paid to certain Trustees and Officers of the Trust. Trustees have the option to defer their compensation. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested.

Certain current Trustees were eligible to participate in a retirement plan that provided for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Fund may have certain former Trustees that also participate in a retirement plan and receive benefits under such plan. The Fund's allocable portion of the remuneration paid to the Trustees, including its allocable portion of the fees and benefits of the deferred compensation plan and retirement plan are paid by Invesco and not by the Trust.

**NOTE 5—Cash Balances**

The Fund is permitted to temporarily overdraft or leave balances in its account with BNY, the custodian bank. Such balances, if any at period-end, are shown in the Statement of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate BNY or the Fund for such activity, the Fund may either (1) pay to or receive from BNY compensation at a rate agreed upon by BNY and Invesco, not to exceed the contractually agreed upon rate; or (2) leave funds or overdraft funds as a compensating balance in the account so BNY or the Fund can be compensated for use of funds.

**NOTE 6—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2025 and 2024:</u>** |
|  | **2025** | **2024** |
|  | **Ordinary** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Ordinary** <br>**Income\***<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp; $391303721 | &nbsp;&nbsp;&nbsp;&nbsp; $346325123 |

---

\* Includes short-term capital gain distributions, if any.

**14**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

---

| | | | |
|:---|:---|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Undistributed** <br>**Ordinary** <br>**Income**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Shares of** <br>**Beneficial** <br>**Interest**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Total** <br>**Net Assets**<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; $127471 | &nbsp;&nbsp;&nbsp;&nbsp; $9699475127 | &nbsp;&nbsp;&nbsp;&nbsp; $9699602598 |

---

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Fund to utilize. The ability to utilize capital loss carryforwards in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Fund did not have any capital loss carryforward as of August 31, 2025.

**NOTE 7—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of distributions, on August 31, 2025, amounts were reclassified between undistributed net investment income, undistributed net realized gain (loss) and shares of beneficial interest. These reclassifications had no effect on the net assets of the Fund.

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Undistributed Net** <br>**Investment Income**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Undistributed Net** <br>**Realized Gain (Loss)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Shares of** <br>**Beneficial Interest**<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; $2356 | &nbsp;&nbsp;&nbsp;&nbsp; $(2356)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $- |

---

**NOTE 8—Share Information**

**Invesco Premier Portfolio** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Years ended August 31,** | **Years ended August 31,** | **Years ended August 31,** | **Years ended August 31,** |
|  | **2025**<sup>(a)</sup>  | **2025**<sup>(a)</sup>  | **2024** | **2024** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; 11598875406 | &nbsp;&nbsp;&nbsp; $11598875406 | &nbsp;&nbsp;&nbsp; 9739077117 | &nbsp;&nbsp;&nbsp; $9739077117 |
| Investor Class | &nbsp;&nbsp;&nbsp; 521969267 | &nbsp;&nbsp;&nbsp; 521969267 | &nbsp;&nbsp;&nbsp; 336725771 | &nbsp;&nbsp;&nbsp; 336725771 |
| Personal Investment Class | &nbsp;&nbsp;&nbsp; 13222425 | &nbsp;&nbsp;&nbsp; 13222425 | &nbsp;&nbsp;&nbsp; 24100174 | &nbsp;&nbsp;&nbsp; 24100174 |
| Private Investment Class | &nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| Reserve Class | &nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| Resource Class | &nbsp;&nbsp;&nbsp; 3040 | &nbsp;&nbsp;&nbsp; 3040 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; 381517885 | &nbsp;&nbsp;&nbsp; 381517885 | &nbsp;&nbsp;&nbsp; 299321339 | &nbsp;&nbsp;&nbsp; 299321339 |
| Investor Class | &nbsp;&nbsp;&nbsp; 9226500 | &nbsp;&nbsp;&nbsp; 9226500 | &nbsp;&nbsp;&nbsp; 8507286 | &nbsp;&nbsp;&nbsp; 8507286 |
| Personal Investment Class | &nbsp;&nbsp;&nbsp; 520037 | &nbsp;&nbsp;&nbsp; 520037 | &nbsp;&nbsp;&nbsp; 442533 | &nbsp;&nbsp;&nbsp; 442533 |
| Private Investment Class | &nbsp;&nbsp;&nbsp; 1143 | &nbsp;&nbsp;&nbsp; 1143 | &nbsp;&nbsp;&nbsp; 1313 | &nbsp;&nbsp;&nbsp; 1313 |
| Reserve Class | &nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp; 494 | &nbsp;&nbsp;&nbsp; 494 |
| Resource Class | &nbsp;&nbsp;&nbsp; 30822 | &nbsp;&nbsp;&nbsp; 30822 | &nbsp;&nbsp;&nbsp; 35168 | &nbsp;&nbsp;&nbsp; 35168 |
| **Reacquired:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; (10131033529)<br>| &nbsp;&nbsp;&nbsp; (10131033529)<br>| &nbsp;&nbsp;&nbsp; (7247550439)<br>| &nbsp;&nbsp;&nbsp; (7247550439)<br>|
| Investor Class | &nbsp;&nbsp;&nbsp; (399798657)<br>| &nbsp;&nbsp;&nbsp; (399798657)<br>| &nbsp;&nbsp;&nbsp; (351230155)<br>| &nbsp;&nbsp;&nbsp; (351230155)<br>|
| Personal Investment Class | &nbsp;&nbsp;&nbsp; (27361847)<br>| &nbsp;&nbsp;&nbsp; (27361847)<br>| &nbsp;&nbsp;&nbsp; (18016008)<br>| &nbsp;&nbsp;&nbsp; (18016008)<br>|
| Net increase in share activity | &nbsp;&nbsp;&nbsp; 1967173063 | &nbsp;&nbsp;&nbsp; $1967173063 | &nbsp;&nbsp;&nbsp; 2791414593 | &nbsp;&nbsp;&nbsp; $2791414593 |

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 51% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**15**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) and Shareholders of Invesco Premier Portfolio

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco Premier Portfolio (one of the funds constituting AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust), referred to hereafter as the "Fund") as of August 31, 2025, the related statement of operations for the year ended August 31, 2025, the statement of changes in net assets for each of the two years in the period ended August 31, 2025, including the related notes, and the financial highlights of the Reserve Class for each of the five years in the period ended August 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of August 31, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended August 31, 2025 and the financial highlights of the Reserve Class for each of the five years in the period ended August 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of August 31, 2025 by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

October 24, 2025

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**16**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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**Approval of Investment Advisory and Sub-Advisory Contracts**

**(Invesco Premier Portfolio and Invesco Premier U.S. Government Money Portfolio)** 

At meetings held on June 16, 2025, the Board of Trustees (the Board or the Trustees) of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) as a whole, and the independent Trustees, who comprise over 75% of the Board, voting separately, approved the continuance of each series portfolio of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) listed above (each, a Fund) Master Investment Advisory Agreement with Invesco Advisers, Inc. (Invesco Advisers and the investment advisory agreement) and for Invesco Premier Portfolio, the Master Intergroup Sub-Advisory Contract for Mutual Funds with Invesco Asset Management Deutschland GmbH\*, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and a separate sub-advisory contract with Invesco Capital Management LLC (collectively, the Affiliated Sub-Advisers and the sub-advisory contracts) for another year, effective July 1, 2025. After evaluating the factors discussed below, among others, the Board approved the renewal of each Fund's investment advisory agreement and the sub-advisory contracts and determined that the compensation payable thereunder by each Fund to Invesco Advisers and by Invesco Advisers to the Affiliated Sub-Advisers is fair and reasonable.&nbsp;&nbsp;&nbsp;&nbsp;

**The Board's Evaluation Process**

The Board has established an Investments Committee, which in turn has established Sub-Committees. The Sub-Committees meet regularly throughout the year with portfolio managers and other members of management to review information about the investment performance and portfolio attributes for those funds advised by Invesco Advisers (Invesco Funds) assigned to them. The Board has established additional standing and ad hoc committees that meet throughout the year to review matters within their purview, including a working group focused on opportunities to make ongoing and continuous improvements to the Board's annual review process for the Invesco Funds' investment advisory agreement and sub-advisory contracts (the annual review process). In considering whether to approve each Invesco Fund's investment advisory agreement and sub-advisory contracts, the Board took into account evaluations and reports that it received from its committees and sub-committees, as well as the information provided to the Board and its committees and sub-committees throughout the year.

As part of the annual review process, the Board reviews and considers information provided in response to requests for

information submitted to management by the independent Trustees with assistance from legal counsel to the independent Trustees (independent legal counsel) and the Senior Officer, an officer of the Invesco Funds who reports directly to the independent Trustees. The Board receives comparative investment performance and fee and expense data regarding the Invesco Funds prepared by Broadridge Financial Solutions, Inc. (Broadridge), an independent provider of investment company data, as well as information on the composition of the peer groups and its methodology for determining peer groups. The Board also receives an independent written evaluation from the Senior Officer. The Senior Officer's evaluation is prepared as part of his responsibility to manage the process by which the Invesco Funds' proposed management fees are negotiated during the annual review process to ensure they are negotiated in a manner that is at arms' length and reasonable in accordance with certain negotiated regulatory requirements. In addition to meetings with Invesco Advisers and fund counsel throughout the year and as part of meetings convened on May 6, 2025 and June 16-18, 2025, the independent Trustees also discussed the continuance of the investment advisory agreement and sub-advisory contracts in separate sessions with the Senior Officer and with independent legal counsel. The discussion below includes summary information drawn in part from the Senior Officer's independent written evaluation with respect to the Fund's investment advisory agreement and sub-advisory contracts, as well as a discussion of the material factors and related conclusions that formed the basis for the Board's approval of each Fund's investment advisory agreement and Invesco Premier Portfolio's sub-advisory contracts. The Trustees' review and conclusions are based on the comprehensive consideration of all information presented to them during the course of the year and are not the result of any single determinative factor. Moreover, one Trustee may have weighed a particular piece of information or factor differently than another Trustee.

**Factors and Conclusions and Summary of Independent Written Fee Evaluation**

*A.* *Nature, Extent and Quality of Services Provided by Invesco Advisers and the Affiliated Sub-Advisers*

The Board reviewed the nature, extent and quality of the advisory services provided to each Fund by Invesco Advisers under each Fund's investment advisory agreement, and the credentials and experience of the officers and employees of Invesco Advisers who provide these services, including each Fund's portfolio

manager(s). The Board's review included consideration of Invesco Advisers' investment process and oversight, credit analysis, and research capabilities. The Board considered information regarding Invesco Advisers' programs for and resources devoted to risk management, including management of investment, enterprise, operational, liquidity, derivatives, valuation and compliance risks, and technology used to manage such risks. The Board received information regarding Invesco's methodology for compensating its investment professionals and the incentives and accountability it creates, as well as how it impacts Invesco's ability to attract and retain talent. The Board considered that Invesco Advisers has shown the willingness to commit resources to support investment in the business and to remain well-positioned to serve Fund shareholders including with regard to attracting and retaining qualified personnel on its investment teams and investing in technology. The Board received a description of, and reports related to, Invesco Advisers' global security program and business continuity plans and of its approach to data privacy and cybersecurity, including related testing. The Board also considered non-advisory services that Invesco Advisers and its affiliates provide to the Invesco Funds, such as various middle office and back office support functions, third party oversight, internal audit, valuation, portfolio trading and legal and compliance. The Board considered Invesco Advisers' systems preparedness and ongoing investment to seek to manage, operate and oversee the Invesco Funds with minimal impact or disruption through challenging environments. The Board reviewed and considered the benefits to shareholders of investing in a Fund that is part of the family of funds under the umbrella of Invesco Ltd., Invesco Advisers' parent company, and noted Invesco Ltd.'s depth and experience in running an investment management business, as well as its commitment of financial and other resources to such business. The Board concluded that the nature, extent and quality of the services provided to each Fund by Invesco Advisers supported the renewal of the investment advisory agreement.

**INVESCO PREMIER PORTFOLIO**

The Board reviewed the services that may be provided to the Fund by the Affiliated Sub-Advisers under the sub-advisory contracts and the credentials and experience of the officers and employees of the Affiliated Sub-Advisers who provide these services. The Board noted the Affiliated Sub-Advisers' expertise with respect to certain asset classes and that the Affiliated Sub-Advisers have offices

**17**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

and personnel that are located in financial centers around the world. As a result, the Board noted that the Affiliated Sub-Advisers can provide research and investment analysis on the markets and economies of various countries and territories in which the Fund may invest, make recommendations regarding securities and assist with portfolio trading. The Board concluded that the sub-advisory contracts may benefit the Fund and its shareholders by permitting Invesco Advisers to use the resources and talents of the Affiliated Sub-Advisers in managing the Fund. The Board concluded that the nature, extent and quality of the services that may be provided to the Fund by the Affiliated Sub-Advisers supported the renewal of the sub-advisory contracts.

**INVESCO PREMIER U.S. GOVERNMENT MONEY PORTFOLIO**

The Board reviewed and considered the benefits to shareholders of investing in a Fund that is part of the Invesco family of funds under the umbrella of Invesco Ltd., Invesco Advisers' parent company, and noted Invesco Ltd.'s depth and experience in conducting an investment management business, as well as its commitment of financial and other resources to such business. The Board also reviewed and considered information regarding the benefits to the Fund resulting from Invesco Ltd.'s acquisition of OppenheimerFunds, Inc. and its subsidiaries (the Transaction) and the resources that Invesco Advisers has committed to managing the Invesco family of funds following the Transaction. The Board concluded that the nature, extent and quality of the services provided to the Fund by Invesco Advisers supported the renewal of the investment advisory agreement.

*B.* *Fund Investment Performance*

**INVESCO PREMIER PORTFOLIO**

The Board considered Fund investment performance as a relevant factor in considering whether to approve the investment advisory agreement. The Board did not view Fund investment performance as a relevant factor in considering whether to approve the sub-advisory contracts for the Fund, as no Affiliated Sub-Adviser currently manages assets of the Fund.

The Board compared the Fund's investment performance over multiple time periods ending December 31, 2024 to the performance of funds in the Broadridge performance universe and against the iMoneyNet First Tier Institutional Funds Category (Index). The Board noted that performance of Investor Class shares of the Fund was in the first quintile of its performance universe for the one, three and five year periods (the first quintile being the best performing funds on a relative basis and the fifth quintile being the worst performing funds on a relative basis). The Board noted that performance of Investor Class shares of the Fund was above the performance of the Index for the one, three and

five year periods. The Board recognized that the performance data reflects a snapshot in time as of a particular date and that selecting a different performance period could produce different results. The Board also reviewed more recent Fund performance as well as other performance metrics, which did not change its conclusions.

**INVESCO PREMIER U.S. GOVERNMENT MONEY PORTFOLIO**

The Board considered Fund investment performance as a relevant factor in considering whether to approve the investment advisory agreement.

The Board compared the Fund's investment performance over multiple time periods ending December 31, 2024 to the performance of funds in the Broadridge performance universe and against the iMoneyNet Government Institutional Funds Category (Index). The Board noted that performance of Investor Class shares of the Fund was in the first quintile of its performance universe for the one, three and five year periods (the first quintile being the best performing funds on a relative basis and the fifth quintile being the worst performing funds on a relative basis). The Board noted that performance of Investor Class shares of the Fund was above the performance of the Index for the one, three and five year periods. The Board recognized that the performance data reflects a snapshot in time as of a particular date and that selecting a different performance period could produce different results. The Board also reviewed more recent Fund performance as well as other performance metrics, which did not change its conclusions.

*C.* *Advisory and Sub-Advisory Fees and Fund Expenses*

**INVESCO PREMIER PORTFOLIO**

The Board received information regarding Invesco Advisers' approach with respect to contractual management fee schedules and compared the Fund's contractual management fee rate to the contractual management fee rates of funds in the Fund's Broadridge expense group. The Board noted that the contractual management and actual management fee rates for Investor Class shares of the Fund were each reasonably comparable to the median contractual management and actual management fee rates of funds in its expense group. The Board noted that the term "contractual management fee" and "actual management fee" for funds in the expense group may include both advisory and certain non-portfolio management administrative services fees, but that Broadridge is not able to provide information on a fund-by-fund basis as to what is included. The Board also reviewed the methodology used by Broadridge in calculating expense group information, which includes using each fund's contractual management fee schedule (including any applicable breakpoints) as reported in the most

recent prospectus or statement of additional information for each fund in the expense group. The Board also considered comparative information regarding the Fund's total expense ratio and its various components. The Board noted that the Fund differs from the other Invesco Funds in that it pays "all-inclusive" unitary advisory fees that cover various Fund operating expenses.

The Board noted that Invesco Advisers has contractually agreed to waive advisory fees of the Fund in an amount and for the term disclosed in the Fund's registration statement. The Board further noted that Invesco Advisers has voluntarily undertaken to waive fees to the extent necessary to assist the Fund in attempting to maintain a positive yield.

The Board also considered the fees charged by Invesco Advisers and its affiliates to other client accounts that are similarly managed. Invesco Advisers reviewed with the Board differences in the scope of services it provides to the Invesco Funds relative to that provided by Invesco Advisers and its affiliates to certain other types of client accounts, including, among others: management of cash flows as a result of redemptions and purchases; necessary infrastructure such as officers, office space, technology, legal and distribution; oversight of service providers; costs and business risks associated with launching new funds and sponsoring and maintaining the product line; and compliance with federal and state laws and regulations. Invesco Advisers also advised the Board that many of the similarly managed client accounts have all-inclusive fee structures, which are not easily un-bundled.

The Board also compared the Fund's advisory fee rate before the application of advisory fee waivers/expense limitations to the effective advisory fee rates before the application of advisory fee waivers/expense limitations of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2024.

The Board also considered the services that may be provided by the Affiliated Sub-Advisers pursuant to the sub-advisory contracts, as well as the fees payable by Invesco Advisers to the Affiliated Sub-Advisers pursuant to the sub-advisory contracts.

**INVESCO PREMIER U.S. GOVERNMENT MONEY PORTFOLIO**

The Board received information regarding Invesco Advisers' approach with respect to contractual management fee schedules and compared the Fund's contractual management fee rate to the contractual management fee rates of funds in the Fund's Broadridge expense group. The Board noted that the contractual management and actual management fee rates for Investor Class shares of the Fund were above and reasonably comparable to, respectively, the median contractual management and actual

**18**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

management fee rates of funds in its expense group. The Board noted that the term "contractual management fee" and "actual management fee" for funds in the expense group may include both advisory and certain non-portfolio management administrative services fees, but that Broadridge is not able to provide information on a fund-by-fund basis as to what is included. The Board also reviewed the methodology used by Broadridge in calculating expense group information, which includes using each fund's contractual management fee schedule (including any applicable breakpoints) as reported in the most recent prospectus or statement of additional information for each fund in the expense group. The Board also considered comparative information regarding the Fund's total expense ratio and its various components. The Board noted that the Fund differs from the other Invesco Funds in that it pays "all-inclusive" unitary advisory fees that cover various Fund operating expenses. The Board noted that the Fund's, contractual management fees were in the fourth quintile of its expense group and discussed with management reasons for such relative contractual management fees.

The Board noted that Invesco Advisers has contractually agreed to waive advisory fees of the Fund in an amount and for the term disclosed in the Fund's registration statement. The Board further noted that Invesco Advisers has voluntarily undertaken to waive fees to the extent necessary to assist the Fund in attempting to maintain a positive yield.

The Board also considered the fees charged by Invesco Advisers and its affiliates to other client accounts that are similarly managed. Invesco Advisers reviewed with the Board differences in the scope of services it provides to the Invesco Funds relative to that provided by Invesco Advisers and its affiliates to certain other types of client accounts, including, among others: management of cash flows as a result of redemptions and purchases; necessary infrastructure such as officers, office space, technology, legal and distribution; oversight of service providers; costs and business risks associated with launching new funds and sponsoring and maintaining the product line; and compliance with federal and state laws and regulations. Invesco Advisers also advised the Board that many of the similarly managed client accounts have all-inclusive fee structures, which are not easily un-bundled.

The Board also compared the Fund's advisory fee rate before the application of advisory fee waivers/expense limitations to the effective advisory fee rates before the application of advisory fee waivers/expense limitations of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2024.

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

*D.* *Economies of Scale and Breakpoints*

The Board considered the extent to which there may be economies of scale in the provision of advisory services to each Fund and the Invesco Funds, and the extent to which such economies of scale are shared with each Fund and the Invesco Funds. The Board acknowledged the limitations in calculating and measuring economies of scale at the individual fund level; noting that only indicative and estimated measures are available at the individual fund level and that such measures are subject to uncertainty. The Board noted that each Fund does not benefit from economies of scale through contractual breakpoints, but does share in economies of scale through Invesco Advisers' ability to negotiate lower fee arrangements with third party service providers. The Board noted that each Fund may also benefit from economies of scale through initial fee setting, fee waivers and expense reimbursements, as well as Invesco Advisers' management of significant assets and investment in its business, including investments in business infrastructure, technology and cybersecurity.

*E.* *Profitability and Financial Resources*

The Board reviewed information from Invesco Advisers concerning the costs of the advisory and other services that Invesco Advisers and its affiliates provide to each Fund and the Invesco Funds and the profitability of Invesco Advisers and its affiliates in providing these services in the aggregate and on an individual fund-by-fund basis. The Board considered the methodology used for calculating profitability and the periodic review and enhancement of such methodology. The Board noted that Invesco Advisers continues to operate at a net profit from services Invesco Advisers and its affiliates provide to the Invesco Funds in the aggregate and to most Invesco Funds individually. The Board considered that profits to Invesco Advisers can vary significantly depending on the particular Invesco Fund, with some Invesco Funds showing indicative losses to Invesco Advisers and others showing indicative profits at healthy levels, and that Invesco Advisers' support for and commitment to an Invesco Fund are not, however, solely dependent on the profits attributed to such Fund. The Board did not deem the level of profits realized by Invesco Advisers and its affiliates from providing such services to be excessive, given the nature, extent and quality of the services provided. The Board noted that Invesco Advisers provided information demonstrating that Invesco Advisers is financially sound and has the resources necessary to perform its obligations under the investment advisory agreement, and provided representations indicating that the Affiliated Sub-Advisers are financially sound and have the resources necessary to perform their obligations under the sub-advisory contracts. The Board noted the cyclical and competitive

nature of the global asset management industry.&nbsp;&nbsp;&nbsp;&nbsp;

*F.* *Collateral Benefits to Invesco Advisers and its Affiliates*

The Board considered various other benefits received by Invesco Advisers and its affiliates from the relationship with each Fund, including the fees received for providing administrative, transfer agency and distribution services to each Fund. The Board received comparative information regarding fees charged for these services, including information provided by Broadridge and other independent sources. The Board reviewed the performance of Invesco Advisers and its affiliates in providing these services and the organizational structure employed to provide these services. The Board noted that these services are provided to each Fund pursuant to written contracts that are reviewed and subject to approval on an annual basis by the Board based on its reasonable business judgement and in accordance with applicable regulatory guidance.

\*Effective as of August 29, 2025, Invesco Asset Management Deutschland GmbH merged into Invesco Management S.A.

**19**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year-end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for their fiscal year ended August 31, 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Federal and State Income Tax** |  |  |  |  |  |
|  | **Business Interest** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Qualified Business** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Qualified Dividend** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Corporate** <br>**Dividends** <br>**Received** <br>**Deduction\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **U.S Treasury** <br>**Obligations\***<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp; 99.93% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

---

| | | |
|:---|:---|:---|
| **Non-Resident Alien Shareholders** |  |  |
|  | **Qualified** <br>**Short-Term Gains**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Qualified** <br>**Interest Income\*\***<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp; $2356 | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% |

---

\*\*

The above percentages are based on income dividends paid to shareholders during the Fund's fiscal year.

**20**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

The statement regarding basis for approval of investment advisory contracts can be found in the Approval of Investment Advisory and Sub-Advisory Contracts section of this report.

**21**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

![](imgcb0423471.jpg)

SEC file numbers: 811-05460 and 033-19862

Invesco Distributors, Inc.

CM-I-TST-NCSR-RSV

------

![](img277f00a81.jpg)

------

**Annual Financial Statements and Other Information**

**August 31, 2025**

**Resource Class**

**AIM Treasurer's Series Trust**

**(Invesco Treasurer's Series Trust)**

Invesco Premier Portfolio

------

---

| | |
|:---|:---|
| [2](#xx_db042ccd-4d1f-4017-9f35-999431f95411_SOI-Continued-479_1) | Schedule of Investments |
| [8](#xx_db042ccd-4d1f-4017-9f35-999431f95411_FS-Continued-479_1) | Financial Statements |
| [11](#xx_db042ccd-4d1f-4017-9f35-999431f95411_FS-Continued-479_4) | Financial Highlights |
| [12](#xx_db042ccd-4d1f-4017-9f35-999431f95411_NTF-Continued-479_1) | Notes to Financial Statements |
| [16](#xx_db042ccd-4d1f-4017-9f35-999431f95411_RIR-Continued-479_1) | Report of Independent Registered Public Accounting Firm |
| [17](#xx_db042ccd-4d1f-4017-9f35-999431f95411_AOC-Continued-479_1) | Approval of Investment Advisory and Sub-Advisory Contracts |
| [20](#xx_db042ccd-4d1f-4017-9f35-999431f95411_TI-Continued-479_1) | Tax Information |
| [21](#xx_db042ccd-4d1f-4017-9f35-999431f95411_OIRSR-Continued-479_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments**

*August 31, 2025*

**Invesco Premier Portfolio**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  | **Commercial Paper-42.91%**<sup>(a)</sup>  |
| **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** | **Asset Management & Custody Banks-0.86%** |
| BofA Securities, Inc. (SOFR + 0.43%)<sup>(b)</sup> <br>| 4.85% | 04/29/2026 | $25000 | &nbsp;&nbsp; $25000000 |
| BofA Securities, Inc. | 4.25% | 05/06/2026 | 50000 | &nbsp;&nbsp; 48586611 |
| BofA Securities, Inc. | 4.24% | 05/21/2026 | 10000 | &nbsp;&nbsp; 9700884 |
|  |  |  |  | &nbsp;&nbsp; 83287495 |
| **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** | **Asset-Backed Securities - Consumer Receivables-2.77%** |
| Old Line Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.41% | 12/01/2025 | 50000 | &nbsp;&nbsp; 49456528 |
| Old Line Funding LLC (CEP-Royal Bank of Canada) (SOFR + 0.34%)<sup>(b)(c)(d)</sup> <br>| 4.76% | 06/04/2026 | 35000 | &nbsp;&nbsp; 35000000 |
| Old Line Funding LLC (CEP - Royal Bank of Canada) (SOFR + 0.35%)<sup>(b)(c)(d)</sup> <br>| 4.74% | 07/02/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Old Line Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.33% | 07/17/2026 | 50000 | &nbsp;&nbsp; 48161319 |
| Old Line Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.20% | 08/14/2026 | 40000 | &nbsp;&nbsp; 38446211 |
| Thunder Bay Funding LLC (CEP - Royal Bank of Canada)<sup>(c)(d)</sup> <br>| 4.20% | 08/14/2026 | 50000 | &nbsp;&nbsp; 48057764 |
|  |  |  |  | &nbsp;&nbsp; 269121822 |
| **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** | **Asset-Backed Securities - Fully Supported-0.41%** |
| Atlantic Asset Securitization LLC (CEP-Credit Agricole Corporate & Investment Bank <br> S.A.)<sup>(c)(d)</sup> <br>| 4.43% | 01/21/2026 | 40000 | &nbsp;&nbsp; 39316822 |
| **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** | **Asset-Backed Securities - Fully Supported Bank-7.05%** |
| Anglesea Funding LLC (Multi-CEP's) (01 mo. OBFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.65% | 01/26/2026 | 80000 | &nbsp;&nbsp; 80000000 |
| Anglesea Funding LLC (Multi-CEP's) (01 mo. OBFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.70% | 02/11/2026 | 80000 | &nbsp;&nbsp; 80000000 |
| Anglesea Funding LLC (Multi-CEP's) (01 mo. OBFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.64% | 02/24/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Concord Minutemen Capital Co. LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.35% | 11/25/2025 | 61760 | &nbsp;&nbsp; 61132965 |
| Lexington Parker Capital Co. LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.35% | 09/02/2025 | 134132 | &nbsp;&nbsp; 134115792 |
| Mont Blanc Capital Corp. (CEP-ING Bank N.V.)<sup>(c)(d)</sup> <br>| 4.31% | 12/15/2025 | 30000 | &nbsp;&nbsp; 29628125 |
| Mountcliff Funding LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.49% | 09/04/2025 | 50000 | &nbsp;&nbsp; 49981500 |
| Mountcliff Funding LLC (Multi-CEP's)<sup>(c)(d)</sup> <br>| 4.39% | 11/07/2025 | 100000 | &nbsp;&nbsp; 99190417 |
| Versailles Commercial Paper LLC (CEP-Natixis SA) (SOFR + 0.18%)<sup>(b)(c)(d)</sup> <br>| 4.60% | 10/22/2025 | 100000 | &nbsp;&nbsp; 100000000 |
|  |  |  |  | &nbsp;&nbsp; 684048799 |
| **Consumer Finance-0.51%** | **Consumer Finance-0.51%** | **Consumer Finance-0.51%** | **Consumer Finance-0.51%** | **Consumer Finance-0.51%** |
| Toyota Motor Credit Corp.<sup>(d)</sup> <br>| 4.45% | 12/04/2025 | 50000 | &nbsp;&nbsp; 49428167 |
| **Diversified Banks-16.13%** | **Diversified Banks-16.13%** | **Diversified Banks-16.13%** | **Diversified Banks-16.13%** | **Diversified Banks-16.13%** |
| ANZ New Zealand Int'l Ltd. (United Kingdom)<sup>(c)(d)</sup> <br>| 4.14% | 03/02/2026 | 50000 | &nbsp;&nbsp; 48959250 |
| Australia & New Zealand Banking Group Ltd. (Australia)<sup>(c)(d)</sup> <br>| 4.21% | 02/23/2026 | 65000 | &nbsp;&nbsp; 63696615 |
| Bank of New York Mellon (The) (SOFR + 0.18%)<sup>(b)</sup> <br>| 4.84% | 09/30/2025 | 60100 | &nbsp;&nbsp; 60100000 |
| Barclays Bank PLC (SOFR + 0.20%)<sup>(b)(c)(d)</sup> <br>| 4.69% | 09/12/2025 | 50000 | &nbsp;&nbsp; 50000000 |
| Barclays Bank PLC<sup>(c)(d)</sup> <br>| 4.50% | 11/17/2025 | 75000 | &nbsp;&nbsp; 74294166 |
| Barclays Bank PLC (SOFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.66% | 01/06/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| Barclays Bank PLC<sup>(c)(d)</sup> <br>| 4.29% | 02/20/2026 | 30000 | &nbsp;&nbsp; 29398000 |
| BNG Bank N.V. (Netherlands)<sup>(c)(d)</sup> <br>| 4.33% | 09/04/2025 | 200000 | &nbsp;&nbsp; 199927833 |
| Citigroup Global Markets, Inc.<sup>(c)</sup> <br>| 4.63% | 11/14/2025 | 25000 | &nbsp;&nbsp; 24772861 |
| Citigroup Global Markets, Inc. (SOFR + 0.22%)<sup>(b)(c)</sup> <br>| 4.65% | 12/19/2025 | 55000 | &nbsp;&nbsp; 55000000 |
| Citigroup Global Markets, Inc.<sup>(c)</sup> <br>| 4.37% | 05/14/2026 | 25000 | &nbsp;&nbsp; 24258021 |
| Citigroup Global Markets, Inc. (SOFR + 0.34%)<sup>(b)(c)</sup> <br>| 4.75% | 06/17/2026 | 75000 | &nbsp;&nbsp; 75000000 |
| Dexia S.A. (France)<sup>(c)(d)</sup> <br>| 4.39% | 10/23/2025 | 50000 | &nbsp;&nbsp; 49686556 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**2**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Diversified Banks-(continued)** | **Diversified Banks-(continued)** | **Diversified Banks-(continued)** | **Diversified Banks-(continued)** | **Diversified Banks-(continued)** |
| DNB Bank ASA (Norway)<sup>(c)(d)</sup> <br>| 4.59% | 11/12/2025 | $10000 | &nbsp;&nbsp; $9912200 |
| DNB Bank ASA (Norway)<sup>(c)(d)</sup> <br>| 4.33% | 04/20/2026 | 50000 | &nbsp;&nbsp; 48655708 |
| DNB Bank ASA (Norway)<sup>(c)(d)</sup> <br>| 4.27% | 07/07/2026 | 40000 | &nbsp;&nbsp; 38592333 |
| HSBC Bank PLC (SOFR + 0.36%) (United Kingdom)<sup>(b)(c)(d)</sup> <br>| 4.87% | 09/11/2025 | 25000 | &nbsp;&nbsp; 25000000 |
| HSBC Bank PLC (SOFR + 0.36%) (United Kingdom)<sup>(b)(c)(d)</sup> <br>| 4.89% | 09/25/2025 | 50000 | &nbsp;&nbsp; 49999666 |
| ING (US) Funding LLC<sup>(c)(d)</sup> <br>| 4.50% | 10/07/2025 | 50000 | &nbsp;&nbsp; 49785000 |
| ING (US) Funding LLC (SOFR + 0.24%)<sup>(b)(c)(d)</sup> <br>| 4.60% | 10/24/2025 | 51000 | &nbsp;&nbsp; 51000000 |
| ING US Funding LLC (SOFR + 0.33%)<sup>(b)(c)(d)</sup> <br>| 4.77% | 12/18/2025 | 25000 | &nbsp;&nbsp; 25000000 |
| ING US Funding LLC (SOFR + 0.26%)<sup>(b)(c)(d)</sup> <br>| 4.64% | 03/09/2026 | 25000 | &nbsp;&nbsp; 24997394 |
| ING US Funding LLC<sup>(c)(d)</sup> <br>| 4.43% | 05/01/2026 | 40000 | &nbsp;&nbsp; 38846467 |
| Lloyds Bank PLC (United Kingdom)<sup>(d)</sup> <br>| 4.24% | 02/09/2026 | 51445 | &nbsp;&nbsp; 50490195 |
| Lloyds Bank PLC (United Kingdom)<sup>(d)</sup> <br>| 4.24% | 02/11/2026 | 49600 | &nbsp;&nbsp; 48668002 |
| Lloyds Bank PLC (United Kingdom)<sup>(c)(d)</sup> <br>| 4.35% | 04/24/2026 | 50000 | &nbsp;&nbsp; 48625903 |
| National Australia Bank Ltd. (SOFR + 0.20%) (Australia)<sup>(b)(c)(d)</sup> <br>| 4.59% | 11/03/2025 | 75000 | &nbsp;&nbsp; 75000000 |
| Skandinaviska Enskilda Banken AB (Sweden)<sup>(c)(d)</sup> <br>| 4.50% | 10/29/2025 | 50000 | &nbsp;&nbsp; 49653611 |
| UBS AG (SOFR + 0.38%)<sup>(b)(c)(d)</sup> <br>| 4.78% | 05/15/2026 | 25000 | &nbsp;&nbsp; 25000000 |
| Westpac Banking Corp. (SOFR + 0.33%) (Australia)<sup>(b)(c)(d)</sup> <br>| 4.83% | 09/04/2025 | 50000 | &nbsp;&nbsp; 50000000 |
|  |  |  |  | &nbsp;&nbsp; 1564319781 |
| **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** | **Diversified Capital Markets-7.52%** |
| Collateralized Commercial Paper V Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.28%)<sup>(b)</sup> <br>| 4.72% | 12/16/2025 | 25000 | &nbsp;&nbsp; 25000000 |
| Collateralized Commercial Paper V Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.29%)<sup>(b)</sup> <br>| 4.74% | 02/09/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Collateralized Commercial Paper V Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.30%)<sup>(b)</sup> <br>| 4.71% | 03/10/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Endeavour Funding Co. LLC (CEP-HSBC Bank PLC)<sup>(c)(d)</sup> <br>| 4.38% | 09/02/2025 | 50000 | &nbsp;&nbsp; 49993917 |
| Great Bear Funding LLC (CEP - Bank of Nova Scotia) (01 mo. OBFR + 0.23%)<sup>(b)(d)</sup> <br>| 4.69% | 02/23/2026 | 95000 | &nbsp;&nbsp; 95000000 |
| Great Bear Funding LLC (CEP - Bank of Nova Scotia) (01 mo. OBFR + 0.26%)<sup>(b)(d)</sup> <br>| 4.64% | 04/30/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| Lion Bay Funding LLC (Multi-CEP's) (SOFR + 0.23%)<sup>(b)(c)(d)</sup> <br>| 4.72% | 12/15/2025 | 50000 | &nbsp;&nbsp; 50000000 |
| Mackinac Funding Co. LLC (CEP-BNP Paribas SA)<sup>(c)(d)</sup> <br>| 4.48% | 09/04/2025 | 75000 | &nbsp;&nbsp; 74972312 |
| Park Avenue Collateralized Notes Co. LLC (CEP-JPMorgan Securities LLC) (SOFR + <br> 0.36%)<sup>(b)(c)</sup> <br>| 4.83% | 01/27/2026 | 25000 | &nbsp;&nbsp; 25000000 |
| UBS AG<sup>(c)(d)</sup> <br>| 4.47% | 10/08/2025 | 25000 | &nbsp;&nbsp; 24890028 |
| UBS AG (SOFR + 0.39%)<sup>(b)(c)(d)</sup> <br>| 4.82% | 12/01/2025 | 50000 | &nbsp;&nbsp; 50000000 |
| UBS AG (SOFR + 0.39%)<sup>(b)(c)(d)</sup> <br>| 4.85% | 01/02/2026 | 50000 | &nbsp;&nbsp; 50000000 |
| UBS AG (SOFR + 0.32%)<sup>(b)(c)(d)</sup> <br>| 4.73% | 03/02/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| UBS AG (SOFR + 0.37%)<sup>(b)(c)(d)</sup> <br>| 4.79% | 06/17/2026 | 35000 | &nbsp;&nbsp; 35000000 |
|  |  |  |  | &nbsp;&nbsp; 729856257 |
| **Regional Banks-2.06%** | **Regional Banks-2.06%** | **Regional Banks-2.06%** | **Regional Banks-2.06%** | **Regional Banks-2.06%** |
| ASB Bank Ltd. (SOFR + 0.35%) (New Zealand)<sup>(b)(c)(d)</sup> <br>| 4.79% | 02/17/2026 | 100000 | &nbsp;&nbsp; 100000000 |
| ASB Bank Ltd. (SOFR + 0.32%) (New Zealand)<sup>(b)(c)(d)</sup> <br>| 4.78% | 02/27/2026 | 100000 | &nbsp;&nbsp; 100000000 |
|  |  |  |  | &nbsp;&nbsp; 200000000 |
| **Specialized Finance-5.60%** | **Specialized Finance-5.60%** | **Specialized Finance-5.60%** | **Specialized Finance-5.60%** | **Specialized Finance-5.60%** |
| Aquitaine Funding Co. LLC (CEP-Societe Generale S.A.)<sup>(c)(d)</sup> <br>| 4.40% | 09/02/2025 | 200000 | &nbsp;&nbsp; 199975555 |
| Aquitaine Funding Co. LLC (CEP-Societe Generale S.A.)<sup>(c)(d)</sup> <br>| 4.50% | 09/03/2025 | 100000 | &nbsp;&nbsp; 99975278 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**3**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** | **Specialized Finance-(continued)** |
| Cabot Trail Funding LLC (CEP-Toronto-Dominion Bank) (SOFR + 0.18%)<sup>(b)(d)</sup> <br>| 4.67% | 09/05/2025 |  | $30000 | &nbsp;&nbsp; $30000000 |
| CDP Financial, Inc. (Canada)<sup>(c)(d)</sup> <br>| 4.51% | 01/08/2026 |  | 50000 | &nbsp;&nbsp; 49227792 |
| CDP Financial, Inc. (Canada)<sup>(c)(d)</sup> <br>| 4.53% | 02/03/2026 |  | 65000 | &nbsp;&nbsp; 63788201 |
| Concord Minutemen Capital Co. LLC (CEP-Goldman Sachs International) (SOFR + 0.30%)<sup>(b)(c)</sup> <br>| 4.65% | 12/23/2025 |  | 35000 | &nbsp;&nbsp; 35000000 |
| Concord Minutemen Capital Co. LLC (CEP-Goldman Sachs International)<sup>(c)</sup> <br>| 4.33% | 02/25/2026 |  | 15000 | &nbsp;&nbsp; 14688037 |
| Podium Funding Trust (CEP-Bank of Montreal) (SOFR + 0.34%) (Canada)<sup>(b)(d)</sup> <br>| 4.69% | 03/05/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
|  |  |  |  |  | &nbsp;&nbsp; 542654863 |
| Total Commercial Paper (Cost $4,162,034,006) | Total Commercial Paper (Cost $4,162,034,006) | Total Commercial Paper (Cost $4,162,034,006) | Total Commercial Paper (Cost $4,162,034,006) |  | &nbsp;&nbsp; 4162034006 |
| **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** | **Certificates of Deposit-20.42%** |
| Australia & New Zealand Banking Group Ltd. (Cayman Islands)<sup>(d)</sup> <br>| 4.32% | 09/02/2025 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Bank of America N.A. | 4.49% | 01/07/2026 |  | 75000 | &nbsp;&nbsp; 75000000 |
| Bank of America N.A. | 4.24% | 03/02/2026 |  | 25000 | &nbsp;&nbsp; 25000000 |
| Bank of America N.A. (SOFR + 0.34%)<sup>(b)</sup> <br>| 4.70% | 04/27/2026 |  | 80000 | &nbsp;&nbsp; 80000000 |
| Barclays Bank PLC (SOFR + 0.35%) (United Kingdom)<sup>(b)(d)</sup> <br>| 4.69% | 10/15/2025 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Canadian Imperial Bank of Commerce (Canada)<sup>(d)</sup> <br>| 4.32% | 09/02/2025 |  | 90000 | &nbsp;&nbsp; 90000000 |
| Canadian Imperial Bank of Commerce (SOFR + 0.36%) (Canada)<sup>(b)(d)</sup> <br>| 4.70% | 11/17/2025 |  | 41000 | &nbsp;&nbsp; 41000000 |
| Canadian Imperial Bank of Commerce (SOFR + 0.40%) (Canada)<sup>(b)(d)</sup> <br>| 4.74% | 09/08/2026 |  | 80000 | &nbsp;&nbsp; 80000000 |
| Citibank N.A. (SOFR + 0.35%)<sup>(b)</sup> <br>| 4.69% | 10/27/2025 |  | 75000 | &nbsp;&nbsp; 75000000 |
| Cooperatieve Rabobank U.A. (Cayman Islands)<sup>(d)</sup> <br>| 4.32% | 09/02/2025 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Credit Agricole Corporate and Investment Bank<sup>(d)</sup> <br>| 4.34% | 04/30/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Credit Agricole Corporate And Investment Bank<sup>(d)</sup> <br>| 4.31% | 09/02/2025 |  | 200000 | &nbsp;&nbsp; 200000000 |
| KEB Hana Bank<sup>(d)</sup> <br>| 4.42% | 12/15/2025 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Korea Development Bank<sup>(d)</sup> <br>| 4.26% | 03/02/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Mitsubishi UFJ Trust & Banking Corp. (SOFR + 0.23%) (Japan)<sup>(b)(d)</sup> <br>| 4.57% | 12/11/2025 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Mitsubishi UFJ Trust & Banking Corp. (SOFR + 0.22%)<sup>(b)(d)</sup> <br>| 4.56% | 02/06/2026 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Mizuho Bank Ltd.<sup>(d)</sup> <br>| 4.33% | 09/02/2025 |  | 30000 | &nbsp;&nbsp; 30000000 |
| Mizuho Bank Ltd.<sup>(d)</sup> <br>| 4.33% | 09/02/2025 |  | 220000 | &nbsp;&nbsp; 220000000 |
| Mizuho Bank Ltd.<sup>(d)</sup> <br>| 4.36% | 09/02/2025 |  | 200000 | &nbsp;&nbsp; 200000000 |
| Standard Chartered Bank (SOFR + 0.26%) (United Kingdom)<sup>(b)(d)</sup> <br>| 4.60% | 02/06/2026 |  | 90000 | &nbsp;&nbsp; 90000000 |
| Sumitomo Mitsui Banking Corp. (SOFR + 0.22%)<sup>(b)(d)</sup> <br>| 4.56% | 02/26/2026 |  | 50000 | &nbsp;&nbsp; 50000000 |
| Swedbank AB<sup>(d)</sup> <br>| 4.31% | 04/24/2026 |  | 25000 | &nbsp;&nbsp; 25000000 |
| Toronto-Dominion Bank (Canada)<sup>(d)</sup> <br>| 4.38% | 07/09/2026 |  | 100000 | &nbsp;&nbsp; 100000000 |
| Total Certificates of Deposit (Cost $1,981,000,000) | Total Certificates of Deposit (Cost $1,981,000,000) | Total Certificates of Deposit (Cost $1,981,000,000) | Total Certificates of Deposit (Cost $1,981,000,000) |  | &nbsp;&nbsp; 1981000000 |
| **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  | **Variable Rate Demand Notes-1.06%**<sup>(e)</sup>  |
| **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** | **Credit Enhanced-0.77%** |
| Altoona-Blair County Development Corp.; Series 2015, VRD Bonds (LOC - PNC Bank, <br> N.A.)<sup>(c)(f)</sup> <br>| 4.41% | 04/01/2035 |  | 17850 | &nbsp;&nbsp; 17850000 |
| Jets Stadium Development LLC; Series 2014 A-4B, VRD Bonds (LOC - Sumitomo Mitsui <br> Banking Corp.)<sup>(c)(d)(f)</sup> <br>| 4.80% | 04/01/2047 |  | 12600 | &nbsp;&nbsp; 12600000 |
| Jets Stadium Development LLC; Series 2014 A-4C, VRD Bonds (LOC - Sumitomo Mitsui <br> Banking Corp.)<sup>(c)(d)(f)</sup> <br>| 4.80% | 04/01/2047 |  | 27300 | &nbsp;&nbsp; 27300000 |
| Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank, N.A.)<sup>(f)</sup> <br>| 4.42% | 05/01/2037 |  | 13160 | &nbsp;&nbsp; 13160000 |
| Ziegler Realty LLC; Series 2007, VRD Notes (LOC - Wells Fargo Bank, N.A.)<sup>(c)(f)</sup> <br>| 4.48% | 01/01/2033 |  | 3800 | &nbsp;&nbsp; 3800000 |
|  |  |  |  |  | &nbsp;&nbsp; 74710000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**4**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)** | **Value** |
| **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** | **Education Services-0.29%** |
| Board of Regents of the University of Texas System; Series 2016, RB | 4.32% | 08/01/2045 |  | $27550 | &nbsp;&nbsp; $27550000 |
| Total Variable Rate Demand Notes (Cost $102,260,000) | Total Variable Rate Demand Notes (Cost $102,260,000) | Total Variable Rate Demand Notes (Cost $102,260,000) | Total Variable Rate Demand Notes (Cost $102,260,000) |  | &nbsp;&nbsp; 102260000 |
| TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) | TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-64.39% <br>(Cost $6,245,294,006) |  | &nbsp;&nbsp; 6245294006 |
|  |  |  | &nbsp;&nbsp; **Repurchase**<br> **Amount** | &nbsp;&nbsp; **Repurchase**<br> **Amount** |  |
| **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  | **Repurchase Agreements-36.32%**<sup>(g)</sup>  |
| ABN AMRO Bank N.V., joint agreement dated 08/29/2025, aggregate maturing value of <br> $550,265,222 (collateralized by agency mortgage-backed securities and U.S. Treasury <br> obligations valued at $561,000,046; 0.38% - 7.00%; 04/30/2026 - 08/20/2055)<br>| 4.34% | 09/02/2025 |  | 100048222 | &nbsp;&nbsp; 100000000 |
| Bank of Nova Scotia, joint term agreement dated 08/25/2025, aggregate maturing value <br> of $400,397,666 (collateralized by corporate obligations and non-agency asset-backed <br> securities valued at $420,365,362; 2.26% - 10.08%; 05/01/2027 - <br> 11/22/2052)<sup>(d)(h)(i)</sup> <br>| 4.48% | 09/02/2025 |  | 50049708 | &nbsp;&nbsp; 50000000 |
| Bank of Nova Scotia, joint term agreement dated 08/25/2025, aggregate maturing value <br> of $600,600,500 (collateralized by equity securities valued at $630,378,305; <br> 0.00%)<sup>(d)(h)(i)</sup> <br>| 4.51% | 09/02/2025 |  | 240240200 | &nbsp;&nbsp; 240000000 |
| BMO Capital Markets Corp., joint term agreement dated 08/29/2025, aggregate maturing <br> value of $125,550,521 (collateralized by agency and non-agency asset-backed <br> securities, corporate obligations and non-agency mortgage-backed securities valued at <br> $133,974,061; 0.00% - 12.57%; 03/15/2027 - 08/25/2070)<sup>(d)(i)</sup> <br>| 4.53% | 10/03/2025 |  | 60264250 | &nbsp;&nbsp; 60000000 |
| BMO Capital Markets Corp., joint term agreement dated 08/29/2025, aggregate maturing <br> value of $577,515,625 (collateralized by corporate obligations, non-agency <br> asset-backed securities and non-agency mortgage-backed securities valued at <br> $603,750,677; 0.00% - 9.57%; 04/15/2026 - 05/25/2070)<sup>(d)(i)</sup> <br>| 4.50% | 10/03/2025 |  | 145634375 | &nbsp;&nbsp; 145000000 |
| BNP Paribas Securities Corp., joint term agreement dated 06/25/2025, aggregate <br> maturing value of $300,155,334 (collateralized by corporate obligations and <br> non-agency asset-backed securities valued at $329,765,156; 1.86% - 13.00%; <br> 02/15/2026 - 01/15/2084)<sup>(d)(h)(i)</sup> <br>| 4.66% | 09/02/2025 |  | 100051778 | &nbsp;&nbsp; 100000000 |
| BNP Paribas Securities Corp., joint term agreement dated 07/10/2025, aggregate <br> maturing value of $2,501,233,333 (collateralized by agency mortgage-backed <br> securities, U.S. government sponsored agency obligations and U.S. Treasury obligations <br> valued at $2,550,000,006; 0.00% - 8.00%; 09/04/2025 - 04/20/2065)<sup>(h)(i)</sup> <br>| 4.44% | 09/02/2025 |  | 45022200 | &nbsp;&nbsp; 45000000 |
| BNP Paribas Securities Corp., joint term agreement dated 07/30/2025, aggregate <br> maturing value of $300,153,666 (collateralized by agency and non-agency <br> mortgage-backed securities, corporate obligations and non-agency asset-backed <br> securities valued at $315,000,001; 0.63% - 8.75%; 09/12/2025 - <br> 10/31/2082)<sup>(d)(h)(i)</sup> <br>| 4.61% | 09/02/2025 |  | 150076833 | &nbsp;&nbsp; 150000000 |
| BNP Paribas Securities Corp., joint term agreement dated 08/27/2025, aggregate <br> maturing value of $300,258,417 (collateralized by corporate obligations, non-agency <br> asset-backed securities and non-agency mortgage-backed securities valued at <br> $315,000,489; 0.63% - 9.25%; 09/01/2025 - 07/01/2116)<sup>(d)(i)</sup> <br>| 4.43% | 09/03/2025 |  | 100086139 | &nbsp;&nbsp; 100000000 |
| Citigroup Global Markets, Inc., joint agreement dated 08/29/2025, aggregate maturing <br> value of $1,000,481,111 (collateralized by U.S. Treasury obligations valued at <br> $1,020,119,984; 0.13% - 6.25%; 04/30/2030 - 07/31/2030)<br>| 4.33% | 09/02/2025 |  | 250120278 | &nbsp;&nbsp; 250000000 |
| Credit Agricole Corporate & Investment Bank, joint open agreement dated 08/14/2025 <br> (collateralized by commercial paper, corporate obligations, non-agency asset-backed <br> securities and non-agency mortgage-backed securities valued at $317,082,606; <br> 0.00% - 9.50%; 09/21/2025 - 08/25/2067)<sup>(d)(j)</sup> <br>| 4.46% | 09/02/2025 |  | 50117250 | &nbsp;&nbsp; 50000000 |
| ING Financial Markets, LLC, joint agreement dated 08/29/2025, aggregate maturing value <br> of $400,195,556 (collateralized by equity securities valued at $420,000,006; <br> 0.00%)<sup>(d)</sup> <br>| 4.40% | 09/02/2025 |  | 90044000 | &nbsp;&nbsp; 90000000 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**5**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Repurchase**<br> **Amount** | &nbsp;&nbsp; **Repurchase**<br> **Amount** | **Value** |
| J.P. Morgan Securities LLC, open agreement dated 07/17/2024 (collateralized by <br> commercial paper and corporate obligations valued at $192,499,391; 0.00% - <br> 12.50%; 04/30/2026 - 08/30/2033)<sup>(j)</sup> <br>| 4.63% | 09/02/2025 |  | $175720222 | &nbsp;&nbsp; $175000000 |
| Mitsubishi UFJ Trust & Banking Corp., agreement dated 08/29/2025, maturing value of <br> $50,024,667 (collateralized by agency mortgage-backed securities valued at <br> $51,000,000; 4.77% - 5.54%; 09/16/2044 - 04/20/2072)<sup>(d)</sup> <br>| 4.44% | 09/02/2025 |  | 50024667 | &nbsp;&nbsp; 50000000 |
| Mizuho Securities (USA) LLC, joint open agreement dated 05/05/2025 (collateralized by <br> equity securities valued at $84,000,230; 0.00%)<sup>(d)(j)</sup> <br>| 4.48% | 09/02/2025 |  | 30014933 | &nbsp;&nbsp; 30000000 |
| RBC Capital Markets LLC, joint term agreement dated 08/26/2025, aggregate maturing <br> value of $150,131,250 (collateralized by corporate obligations valued at <br> $164,656,880; 0.00% - 12.75%; 09/01/2025 - 10/01/2097)<sup>(d)(i)</sup> <br>| 4.50% | 09/02/2025 |  | 30026250 | &nbsp;&nbsp; 30000000 |
| Societe Generale, open agreement dated 07/17/2024 (collateralized by corporate <br> obligations, non-agency asset-backed securities, non-agency mortgage-backed <br> securities and U.S. Treasury obligations valued at $86,609,925; 0.00% - 13.50%; <br> 09/15/2025 - 08/15/2076)<sup>(d)(j)</sup> <br>| 4.51% | 09/02/2025 |  | 80040089 | &nbsp;&nbsp; 80000000 |
| Standard Chartered Bank, joint agreement dated 08/29/2025, aggregate maturing value <br> of $4,001,924,444 (collateralized by U.S. Treasury obligations valued at <br> $4,081,962,968; 0.00% - 4.88%; 10/02/2025 - 02/15/2054)<br>| 4.33% | 09/02/2025 |  | 1453776621 | &nbsp;&nbsp; 1453077529 |
| TD Securities (USA) LLC, joint term agreement dated 08/26/2025, aggregate maturing <br> value of $250,214,375 (collateralized by corporate obligations valued at <br> $262,504,831; 1.05% - 6.00%; 09/14/2026 - 06/30/2059)<sup>(d)(i)</sup> <br>| 4.41% | 09/02/2025 |  | 50042875 | &nbsp;&nbsp; 50000000 |
| Wells Fargo Securities, LLC, term agreement dated 08/29/2025, maturing value of <br> $278,698,139 (collateralized by corporate obligations, non-agency asset-backed <br> securities and a non-agency mortgage-backed security valued at $294,801,020; <br> 0.00% - 22.00%; 09/01/2025 - 07/15/2060)<br>| 4.94% | 12/05/2025 |  | 278698139 | &nbsp;&nbsp; 275000000 |
| Total Repurchase Agreements (Cost $3,523,077,529) | Total Repurchase Agreements (Cost $3,523,077,529) | Total Repurchase Agreements (Cost $3,523,077,529) | Total Repurchase Agreements (Cost $3,523,077,529) |  | &nbsp;&nbsp; 3523077529 |
| TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) | TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) | TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) | TOTAL INVESTMENTS IN SECURITIES<sup>(k)(l)</sup>-100.71% (Cost $9,768,371,535) |  | &nbsp;&nbsp; 9768371535 |
| OTHER ASSETS LESS LIABILITIES-(0.71)% | OTHER ASSETS LESS LIABILITIES-(0.71)% | OTHER ASSETS LESS LIABILITIES-(0.71)% | OTHER ASSETS LESS LIABILITIES-(0.71)% |  | &nbsp;&nbsp; (68768937)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% |  | &nbsp;&nbsp; $9699602598 |

---

Investment Abbreviations:

---

| | |
|:---|:---|
| CEP | -Credit Enhancement Provider |
| LOC | -Letter of Credit |
| OBFR | -Overnight Bank Funding Rate |
| RB | -Revenue Bonds |
| SOFR | -Secured Overnight Financing Rate |
| VRD | -Variable Rate Demand |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**6**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Schedule of Investments—(continued)**

*August 31, 2025*

**Invesco Premier Portfolio—(continued)**

Notes to Schedule of Investments:

<sup>(a)</sup> Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.

<sup>(b)</sup> Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2025.

<sup>(c)</sup> Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at August 31, 2025 was $3,581,610,147, which represented 36.93% of the Fund's Net Assets. 

<sup>(d)</sup> The security is credit guaranteed, enhanced or has credit risk by a foreign entity. The foreign credit exposure to countries other than the United States of America (as a percentage of net assets) is summarized as follows: Canada: 17.6%; France: 15.8%; Japan: 9.0%; United Kingdom: 8.0%; Netherlands: 6.3%; other countries less than 5% each: 11.8%. 

<sup>(e)</sup> Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically by the issuer or agent based on current market conditions. Rate shown is the rate in effect on August 31, 2025. 

<sup>(f)</sup> Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.

<sup>(g)</sup> Principal amount equals value at period end. See Note 1J.

<sup>(h)</sup> Interest rate is redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date.

<sup>(i)</sup> The Fund may demand payment of the term repurchase agreement upon one to seven business days' notice depending on the timing of the demand.

<sup>(j)</sup> Either party may terminate the agreement upon demand. Interest rate, principal amount and collateral are redetermined periodically. The Maturity Date represents the next reset date, and the Repurchase Amount is calculated based on the next reset date. 

<sup>(k)</sup> Also represents cost for federal income tax purposes.

<sup>(l)</sup> Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the issuer's obligations but may be called upon to satisfy the issuer's obligations. No concentration of any single entity was greater than 5% each. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**7**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Statement of Assets and Liabilities**

*August 31, 2025*

---

| | |
|:---|:---|
|  | **Invesco Premier** <br>**Portfolio**<br>|
| **Assets:** | **Assets:** |
| Investments in unaffiliated securities, at value | &nbsp;&nbsp; $6245294006 |
| Repurchase agreements, at value and cost | &nbsp;&nbsp; 3523077529 |
| Cash | &nbsp;&nbsp; 261350 |
| Receivable for: |  |
| Fund shares sold | &nbsp;&nbsp; 29883069 |
| Interest | &nbsp;&nbsp; 16933963 |
| Fund expenses absorbed | &nbsp;&nbsp; 568309 |
| Investment for trustee deferred compensation and retirement plans | &nbsp;&nbsp; 680307 |
| Total assets | &nbsp;&nbsp; 9816698533 |
| **Liabilities:** | **Liabilities:** |
| Payable for: |  |
| Investments purchased | &nbsp;&nbsp; 98959250 |
| Fund shares reacquired | &nbsp;&nbsp; 12993947 |
| Dividends | &nbsp;&nbsp; 2429468 |
| Accrued fees to affiliates | &nbsp;&nbsp; 2032963 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 680307 |
| Total liabilities | &nbsp;&nbsp; 117095935 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $9699602598 |
| **Net assets consist of:** | **Net assets consist of:** |
| Shares of beneficial interest | &nbsp;&nbsp; $9699475127 |
| Distributable earnings (loss) | &nbsp;&nbsp; 127471 |
|  | &nbsp;&nbsp; $9699602598 |
| **Net Assets:** | **Net Assets:** |
| Institutional Class | &nbsp;&nbsp; $9414960740 |
| Investor Class | &nbsp;&nbsp; $283867086 |
| Personal Investment Class | &nbsp;&nbsp; $11835 |
| Private Investment Class | &nbsp;&nbsp; $27694 |
| Reserve Class | &nbsp;&nbsp; $11593 |
| Resource Class | &nbsp;&nbsp; $723650 |
| **Shares outstanding, no par value,** <br>**unlimited number of shares authorized:** | **Shares outstanding, no par value,** <br>**unlimited number of shares authorized:** |
| Institutional Class | &nbsp;&nbsp; 9414516475 |
| Investor Class | &nbsp;&nbsp; 283856455 |
| Personal Investment Class | &nbsp;&nbsp; 11834 |
| Private Investment Class | &nbsp;&nbsp; 27692 |
| Reserve Class | &nbsp;&nbsp; 11592 |
| Resource Class | &nbsp;&nbsp; 723615 |
| Net asset value, offering and redemption price per share for each class | &nbsp;&nbsp; $1.00 |
| Cost of Investments | &nbsp;&nbsp; $9768371535 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**8**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Statement of Operations**

*For the year ended August 31, 2025*

---

| | |
|:---|:---|
|  | **Invesco Premier** <br>**Portfolio**<br>|
| **Investment income:** |  |
| Interest | &nbsp;&nbsp; $407012230 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 21719795 |
| Distribution fees: |  |
| Personal Investment Class | &nbsp;&nbsp; 71880 |
| Private Investment Class | &nbsp;&nbsp; 81 |
| Reserve Class | &nbsp;&nbsp; 99 |
| Resource Class | &nbsp;&nbsp; 1131 |
| Professional services fees | &nbsp;&nbsp; (2968)<br>|
| Total expenses | &nbsp;&nbsp; 21790018 |
| Less: Fees waived | &nbsp;&nbsp; (6081509)<br>|
| Net expenses | &nbsp;&nbsp; 15708509 |
| Net investment income | &nbsp;&nbsp; 391303721 |
| Net realized gain from unaffiliated investment securities | &nbsp;&nbsp; 2356 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $391306077 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**9**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Statement of Changes in Net Assets**

*For the years ended August 31, 2025 and 2024*

---

| | | |
|:---|:---|:---|
|  | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** |
|  | **2025** | **2024** |
| **Operations:** | **Operations:** | **Operations:** |
| Net investment income | &nbsp;&nbsp; $391303721 | &nbsp;&nbsp; $346325123 |
| Net realized gain | &nbsp;&nbsp; 2356 | &nbsp;&nbsp; 20533 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 391306077 | &nbsp;&nbsp; 346345656 |
| **Distributions to shareholders from distributable earnings:** | **Distributions to shareholders from distributable earnings:** | **Distributions to shareholders from distributable earnings:** |
| Institutional Class | &nbsp;&nbsp; (381517915)<br>| &nbsp;&nbsp; (337282614)<br>|
| Investor Class | &nbsp;&nbsp; (9233389)<br>| &nbsp;&nbsp; (8535442)<br>|
| Personal Investment Class | &nbsp;&nbsp; (520037)<br>| &nbsp;&nbsp; (469960)<br>|
| Private Investment Class | &nbsp;&nbsp; (1143)<br>| &nbsp;&nbsp; (1317)<br>|
| Reserve Class | &nbsp;&nbsp; (415)<br>| &nbsp;&nbsp; (494)<br>|
| Resource Class | &nbsp;&nbsp; (30822)<br>| &nbsp;&nbsp; (35296)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (391303721)<br>| &nbsp;&nbsp; (346325123)<br>|
| **Share transactions-net:** | **Share transactions-net:** | **Share transactions-net:** |
| Institutional Class | &nbsp;&nbsp; 1849359762 | &nbsp;&nbsp; 2790848017 |
| Investor Class | &nbsp;&nbsp; 131397110 | &nbsp;&nbsp; (5997098)<br>|
| Personal Investment Class | &nbsp;&nbsp; (13619385)<br>| &nbsp;&nbsp; 6526699 |
| Private Investment Class | &nbsp;&nbsp; 1256 | &nbsp;&nbsp; 1313 |
| Reserve Class | &nbsp;&nbsp; 458 | &nbsp;&nbsp; 494 |
| Resource Class | &nbsp;&nbsp; 33862 | &nbsp;&nbsp; 35168 |
| Net increase in net assets resulting from share transactions | &nbsp;&nbsp; 1967173063 | &nbsp;&nbsp; 2791414593 |
| Net increase in net assets | &nbsp;&nbsp; 1967175419 | &nbsp;&nbsp; 2791435126 |
| **Net assets:** | **Net assets:** | **Net assets:** |
| Beginning of year | &nbsp;&nbsp; 7732427179 | &nbsp;&nbsp; 4940992053 |
| End of year | &nbsp;&nbsp; $9699602598 | &nbsp;&nbsp; $7732427179 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**10**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Financial Highlights**

The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.

**Resource Class** 

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income**<sup>(a)</sup> <br>| **Net gains** <br>**on securities** <br>**(realized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or expense** <br>**reimbursements**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or expense** <br>**reimbursements**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**to average** <br>**net assets**<br>|
| **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** | **Invesco Premier Portfolio** |
| Year ended 08/31/25 | $1.00 | $0.04 | $0.00 | $0.04 | $(0.04)<br>| $1.00 | 4.45<br> %<br>| $724 | 0.34<br> %<br>| 0.41<br> %<br>| 4.34<br> %<br>|
| Year ended 08/31/24 | 1.00 | 0.05 | 0.00 | 0.05 | (0.05)<br>| 1.00 | 5.37 | 690 | 0.34 | 0.41 | 5.23 |
| Year ended 08/31/23 | 1.00 | 0.04 | (0.00)<br>| 0.04 | (0.04)<br>| 1.00 | 4.33 | 655 | 0.34 | 0.41 | 4.46 |
| Year ended 08/31/22 | 1.00 | 0.00 | 0.00 | 0.00 | (0.00)<br>| 1.00 | 0.44 | 2847 | 0.25 | 0.41 | 0.54 |
| Year ended 08/31/21 | 1.00 | 0.00 | 0.00 | 0.00 | (0.00)<br>| 1.00 | 0.01 | 3181 | 0.23 | 0.41 | 0.02 |

---

<sup>(a)</sup> Calculated using average shares outstanding. <br> <sup>(b)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**11**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Notes to Financial Statements**

*August 31, 2025*

**NOTE 1—Significant Accounting Policies**

Invesco Premier Portfolio (the "Fund") is a series of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) (the "Trust"). The Trust is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company consisting of two separate portfolios and authorized to issue an unlimited number of shares of beneficial interest. The assets, liabilities and operations of the portfolio are accounted for separately. Information presented in these financial statements pertains only to the Fund. Matters affecting the portfolio or class will be voted on exclusively by the shareholders of such portfolio or class.

The Fund's investment objective is to provide current income consistent with preservation of capital and liquidity.

The Fund currently consists of six classes of shares: Investor Class, Institutional Class, Private Investment Class, Personal Investment Class, Reserve Class and Resource Class. Investor Class shares of the Fund are available only to certain investors. Each class of shares is sold at net asset value.

The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, Financial Services – Investment Companies.

The Fund is a "retail money market fund" as defined in Rule 2a-7 under the 1940 Act (the "Rule"), and seeks to maintain a stable or constant NAV of $1.00 per share using an amortized cost method of valuation. "Retail money market funds" are required to adopt policies and procedures reasonably designed to limit investments in the Fund to accounts beneficially owned by natural persons.

The Fund may impose a fee upon the sale of shares.

The following is a summary of the significant accounting policies followed by the Fund in the preparation of their financial statements.

**A.** **Security Valuations** — The Fund's securities are recorded on the basis of amortized cost which approximates value as permitted by the Rule. This method values a security at its cost on the date of purchase and, thereafter, assumes a constant amortization to maturity of any premiums or accretion of any discounts.

Securities for which market quotations are not readily available are fair valued by Invesco Advisers, Inc. (the "Adviser" or "Invesco") in accordance with Board-approved policies and related Adviser procedures ("Valuation Procedures"). If a fair value price provided by a pricing service is unreliable in the Adviser's judgment, the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value.

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.

The Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.

**B.** **Securities Transactions and Investment Income** — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on the accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.

The Fund may periodically participate in litigation related to the Fund's investments. As such, the Fund may receive proceeds from litigation settlements involving the Fund's investments. 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 gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the investment adviser.

The Fund allocates realized capital gains and losses to a class based on the relative net assets of the class. The Fund allocates income to a class based on the relative settled shares of the class.

**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, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, 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.** **Distributions** - It is the policy of the Fund to declare dividends from net investment income, if any, daily and pay them monthly. The Fund generally distributes net realized capital gain (including net short-term capital gain), if any, annually.

**E.** **Federal Income Taxes** — The Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Fund's

**12**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

taxable earnings to shareholders. As such, the Fund will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.

The Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

**F.** **Expenses** – Fees provided for under the Rule 12b-1 plan of a particular class of the Fund and which are directly attributable to that class are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative settled shares.

**G.** **Accounting Estimates** - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**H.** **Indemnifications** - Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against such Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**I.** **Segment Reporting** — In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), with the intent of improving reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole, thereby enabling better understanding of how an entity's segments impact overall performance. The Fund represents a single operating segment. Subject to the oversight and, when applicable, approval of the Board of Trustees, the Adviser acts as the Fund's chief operating decision maker ("CODM"), assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements. Adoption of the new standard impacted the Fund's financial statement note disclosures only and did not affect the Fund's financial position or the results of its operations.

**J.** **Repurchase Agreements -** The Fund may enter into repurchase agreements. Collateral on repurchase agreements, including the Fund's pro-rata interest in joint repurchase agreements, is taken into possession by the Fund upon entering into the repurchase agreement. Collateral consisting of U.S. Government Securities and U.S. Government Sponsored Agency Securities is marked to market daily to ensure its market value is typically at least 102% of the sales price of the repurchase agreement. Collateral consisting of non-government securities is marked to market daily to ensure its market value is typically at least 105% of the sales price of the repurchase agreement. The investments in some repurchase agreements, pursuant to procedures approved by the Board of Trustees, are through participation with other mutual funds, private accounts and certain non-registered investment companies managed by the investment advisor or its affiliates ("Joint repurchase agreements"). The principal amount of the repurchase agreement is equal to the value at period-end. If the seller of a repurchase agreement fails to repurchase the security in accordance with the terms of the agreement, the Fund might incur expenses in enforcing its rights, and could experience losses, including a decline in the value of the collateral and loss of income.

**K.** **Other Risks** - The effect on performance from investing in securities issued or guaranteed by companies in the banking and financial services industries will depend to a greater extent on the overall condition of those industries. Financial services companies are highly dependent on the supply of short-term financing. The value of securities of issuers in the banking and financial services industry can be sensitive to changes in government regulation and interest rates and to economic downturns in the United States and abroad.

U.S. dollar-denominated securities carrying foreign credit exposure may be affected by unfavorable political, economic or governmental developments that could affect payments of principal and interest.

**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, the Fund accrues daily and pays monthly an advisory fee to the Adviser at an annual rate of 0.25% of the Fund's average daily net assets. Pursuant to the master investment advisory agreement, the Adviser bears all expenses incurred by the Fund in connection with its operations, except for (1) interest, taxes and extraordinary items such as litigation costs; (2) brokers' commissions, issue and transfer taxes, and other costs chargeable to the Fund in connection with securities transactions to which the Fund is a party or in connection with securities owned by the Fund; and (3) other expenditures which are capitalized in accordance with generally accepted accounting principles applicable to investment companies.

Under the terms of a master sub-advisory agreement between the Adviser to the Fund and each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Inc., Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and a separate sub-advisory agreement with Invesco Capital Management LLC (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Sub-Adviser(s).

The Adviser has contractually agreed, through at least December 31, 2025, to waive advisory fees equal to 0.07% of the average daily net assets of the Fund.

**13**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

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For the year ended August 31, 2025, the Adviser waived advisory fees and/or reimbursed Fund expenses in the following amounts:

---

| | |
|:---|:---|
| Invesco Premier Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; $6081509 |

---

The Trust has entered into a master administrative services agreement with Invesco to provide accounting services to the Fund. The Trust has also entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") to provide transfer agency and shareholder services to the Fund. Invesco and IIS do not charge the Fund any fees under these agreements. Also, Invesco has entered into a sub-administration agreement whereby The Bank of New York Mellon ("BNY") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, BNY also serves as the Fund's custodian.

The Trust has entered into master distribution agreements with IDI to serve as the distributor for the Investor Class, Institutional Class, Personal Investment Class, Private Investment Class, Reserve Class and Resource Class shares. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Personal Investment Class, Private Investment Class, Reserve Class and Resource Class shares (collectively, the "Plans"). The Fund, pursuant to the Plans, pays IDI compensation at the annual rate of 0.55% of the Fund's average daily net assets of Personal Investment Class shares, 0.30% of the average daily net assets of Private Investment Class shares, 0.87% of the average daily net assets of Reserve Class shares and 0.16% of the average daily net assets of Resource Class shares. The fees are accrued daily and paid monthly. Of the Plan payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such class. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended August 31, 2025, expenses incurred under the plans are shown in the Statement of Operations as *Distribution fees*.

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

**NOTE 3—Additional Valuation Information**

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

Level 1 — Prices are determined using quoted prices in an active market for identical assets.

Level 2 — Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.

Level 3 — Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Adviser's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

As of August 31, 2025, all of the securities in the Fund were valued based on Level 2 inputs (see the Schedule of Investments for security categories). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

**NOTE 4—Trustees' and Officers' Fees and Benefits**

Remuneration is paid to certain Trustees and Officers of the Trust. Trustees have the option to defer their compensation. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested.

Certain current Trustees were eligible to participate in a retirement plan that provided for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Fund may have certain former Trustees that also participate in a retirement plan and receive benefits under such plan. The Fund's allocable portion of the remuneration paid to the Trustees, including its allocable portion of the fees and benefits of the deferred compensation plan and retirement plan are paid by Invesco and not by the Trust.

**NOTE 5—Cash Balances**

The Fund is permitted to temporarily overdraft or leave balances in its account with BNY, the custodian bank. Such balances, if any at period-end, are shown in the Statement of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate BNY or the Fund for such activity, the Fund may either (1) pay to or receive from BNY compensation at a rate agreed upon by BNY and Invesco, not to exceed the contractually agreed upon rate; or (2) leave funds or overdraft funds as a compensating balance in the account so BNY or the Fund can be compensated for use of funds.

**NOTE 6—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2025 and 2024:</u>** |
|  | **2025** | **2024** |
|  | **Ordinary** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Ordinary** <br>**Income\***<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp; $391303721 | &nbsp;&nbsp;&nbsp;&nbsp; $346325123 |

---

\* Includes short-term capital gain distributions, if any.

**14**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

---

| | | | |
|:---|:---|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Undistributed** <br>**Ordinary** <br>**Income**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Shares of** <br>**Beneficial** <br>**Interest**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Total** <br>**Net Assets**<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; $127471 | &nbsp;&nbsp;&nbsp;&nbsp; $9699475127 | &nbsp;&nbsp;&nbsp;&nbsp; $9699602598 |

---

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Fund to utilize. The ability to utilize capital loss carryforwards in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Fund did not have any capital loss carryforward as of August 31, 2025.

**NOTE 7—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of distributions, on August 31, 2025, amounts were reclassified between undistributed net investment income, undistributed net realized gain (loss) and shares of beneficial interest. These reclassifications had no effect on the net assets of the Fund.

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Undistributed Net** <br>**Investment Income**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Undistributed Net** <br>**Realized Gain (Loss)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Shares of** <br>**Beneficial Interest**<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp;&nbsp;&nbsp; $2356 | &nbsp;&nbsp;&nbsp;&nbsp; $(2356)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $- |

---

**NOTE 8—Share Information**

**Invesco Premier Portfolio** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Years ended August 31,** | **Years ended August 31,** | **Years ended August 31,** | **Years ended August 31,** |
|  | **2025**<sup>(a)</sup>  | **2025**<sup>(a)</sup>  | **2024** | **2024** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; 11598875406 | &nbsp;&nbsp;&nbsp; $11598875406 | &nbsp;&nbsp;&nbsp; 9739077117 | &nbsp;&nbsp;&nbsp; $9739077117 |
| Investor Class | &nbsp;&nbsp;&nbsp; 521969267 | &nbsp;&nbsp;&nbsp; 521969267 | &nbsp;&nbsp;&nbsp; 336725771 | &nbsp;&nbsp;&nbsp; 336725771 |
| Personal Investment Class | &nbsp;&nbsp;&nbsp; 13222425 | &nbsp;&nbsp;&nbsp; 13222425 | &nbsp;&nbsp;&nbsp; 24100174 | &nbsp;&nbsp;&nbsp; 24100174 |
| Private Investment Class | &nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| Reserve Class | &nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| Resource Class | &nbsp;&nbsp;&nbsp; 3040 | &nbsp;&nbsp;&nbsp; 3040 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; 381517885 | &nbsp;&nbsp;&nbsp; 381517885 | &nbsp;&nbsp;&nbsp; 299321339 | &nbsp;&nbsp;&nbsp; 299321339 |
| Investor Class | &nbsp;&nbsp;&nbsp; 9226500 | &nbsp;&nbsp;&nbsp; 9226500 | &nbsp;&nbsp;&nbsp; 8507286 | &nbsp;&nbsp;&nbsp; 8507286 |
| Personal Investment Class | &nbsp;&nbsp;&nbsp; 520037 | &nbsp;&nbsp;&nbsp; 520037 | &nbsp;&nbsp;&nbsp; 442533 | &nbsp;&nbsp;&nbsp; 442533 |
| Private Investment Class | &nbsp;&nbsp;&nbsp; 1143 | &nbsp;&nbsp;&nbsp; 1143 | &nbsp;&nbsp;&nbsp; 1313 | &nbsp;&nbsp;&nbsp; 1313 |
| Reserve Class | &nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp; 494 | &nbsp;&nbsp;&nbsp; 494 |
| Resource Class | &nbsp;&nbsp;&nbsp; 30822 | &nbsp;&nbsp;&nbsp; 30822 | &nbsp;&nbsp;&nbsp; 35168 | &nbsp;&nbsp;&nbsp; 35168 |
| **Reacquired:** |  |  |  |  |
| Institutional Class | &nbsp;&nbsp;&nbsp; (10131033529)<br>| &nbsp;&nbsp;&nbsp; (10131033529)<br>| &nbsp;&nbsp;&nbsp; (7247550439)<br>| &nbsp;&nbsp;&nbsp; (7247550439)<br>|
| Investor Class | &nbsp;&nbsp;&nbsp; (399798657)<br>| &nbsp;&nbsp;&nbsp; (399798657)<br>| &nbsp;&nbsp;&nbsp; (351230155)<br>| &nbsp;&nbsp;&nbsp; (351230155)<br>|
| Personal Investment Class | &nbsp;&nbsp;&nbsp; (27361847)<br>| &nbsp;&nbsp;&nbsp; (27361847)<br>| &nbsp;&nbsp;&nbsp; (18016008)<br>| &nbsp;&nbsp;&nbsp; (18016008)<br>|
| Net increase in share activity | &nbsp;&nbsp;&nbsp; 1967173063 | &nbsp;&nbsp;&nbsp; $1967173063 | &nbsp;&nbsp;&nbsp; 2791414593 | &nbsp;&nbsp;&nbsp; $2791414593 |

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 51% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**15**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) and Shareholders of Invesco Premier Portfolio

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco Premier Portfolio (one of the funds constituting AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust), referred to hereafter as the "Fund") as of August 31, 2025, the related statement of operations for the year ended August 31, 2025, the statement of changes in net assets for each of the two years in the period ended August 31, 2025, including the related notes, and the financial highlights of the Resource Class for each of the five years in the period ended August 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of August 31, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended August 31, 2025 and the financial highlights of the Resource Class for each of the five years in the period ended August 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of August 31, 2025 by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

October 24, 2025

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**16**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Approval of Investment Advisory and Sub-Advisory Contracts**

**(Invesco Premier Portfolio and Invesco Premier U.S. Government Money Portfolio)** 

At meetings held on June 16, 2025, the Board of Trustees (the Board or the Trustees) of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) as a whole, and the independent Trustees, who comprise over 75% of the Board, voting separately, approved the continuance of each series portfolio of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) listed above (each, a Fund) Master Investment Advisory Agreement with Invesco Advisers, Inc. (Invesco Advisers and the investment advisory agreement) and for Invesco Premier Portfolio, the Master Intergroup Sub-Advisory Contract for Mutual Funds with Invesco Asset Management Deutschland GmbH\*, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and a separate sub-advisory contract with Invesco Capital Management LLC (collectively, the Affiliated Sub-Advisers and the sub-advisory contracts) for another year, effective July 1, 2025. After evaluating the factors discussed below, among others, the Board approved the renewal of each Fund's investment advisory agreement and the sub-advisory contracts and determined that the compensation payable thereunder by each Fund to Invesco Advisers and by Invesco Advisers to the Affiliated Sub-Advisers is fair and reasonable.&nbsp;&nbsp;&nbsp;&nbsp;

**The Board's Evaluation Process**

The Board has established an Investments Committee, which in turn has established Sub-Committees. The Sub-Committees meet regularly throughout the year with portfolio managers and other members of management to review information about the investment performance and portfolio attributes for those funds advised by Invesco Advisers (Invesco Funds) assigned to them. The Board has established additional standing and ad hoc committees that meet throughout the year to review matters within their purview, including a working group focused on opportunities to make ongoing and continuous improvements to the Board's annual review process for the Invesco Funds' investment advisory agreement and sub-advisory contracts (the annual review process). In considering whether to approve each Invesco Fund's investment advisory agreement and sub-advisory contracts, the Board took into account evaluations and reports that it received from its committees and sub-committees, as well as the information provided to the Board and its committees and sub-committees throughout the year.

As part of the annual review process, the Board reviews and considers information provided in response to requests for

information submitted to management by the independent Trustees with assistance from legal counsel to the independent Trustees (independent legal counsel) and the Senior Officer, an officer of the Invesco Funds who reports directly to the independent Trustees. The Board receives comparative investment performance and fee and expense data regarding the Invesco Funds prepared by Broadridge Financial Solutions, Inc. (Broadridge), an independent provider of investment company data, as well as information on the composition of the peer groups and its methodology for determining peer groups. The Board also receives an independent written evaluation from the Senior Officer. The Senior Officer's evaluation is prepared as part of his responsibility to manage the process by which the Invesco Funds' proposed management fees are negotiated during the annual review process to ensure they are negotiated in a manner that is at arms' length and reasonable in accordance with certain negotiated regulatory requirements. In addition to meetings with Invesco Advisers and fund counsel throughout the year and as part of meetings convened on May 6, 2025 and June 16-18, 2025, the independent Trustees also discussed the continuance of the investment advisory agreement and sub-advisory contracts in separate sessions with the Senior Officer and with independent legal counsel. The discussion below includes summary information drawn in part from the Senior Officer's independent written evaluation with respect to the Fund's investment advisory agreement and sub-advisory contracts, as well as a discussion of the material factors and related conclusions that formed the basis for the Board's approval of each Fund's investment advisory agreement and Invesco Premier Portfolio's sub-advisory contracts. The Trustees' review and conclusions are based on the comprehensive consideration of all information presented to them during the course of the year and are not the result of any single determinative factor. Moreover, one Trustee may have weighed a particular piece of information or factor differently than another Trustee.

**Factors and Conclusions and Summary of Independent Written Fee Evaluation**

*A.* *Nature, Extent and Quality of Services Provided by Invesco Advisers and the Affiliated Sub-Advisers*

The Board reviewed the nature, extent and quality of the advisory services provided to each Fund by Invesco Advisers under each Fund's investment advisory agreement, and the credentials and experience of the officers and employees of Invesco Advisers who provide these services, including each Fund's portfolio

manager(s). The Board's review included consideration of Invesco Advisers' investment process and oversight, credit analysis, and research capabilities. The Board considered information regarding Invesco Advisers' programs for and resources devoted to risk management, including management of investment, enterprise, operational, liquidity, derivatives, valuation and compliance risks, and technology used to manage such risks. The Board received information regarding Invesco's methodology for compensating its investment professionals and the incentives and accountability it creates, as well as how it impacts Invesco's ability to attract and retain talent. The Board considered that Invesco Advisers has shown the willingness to commit resources to support investment in the business and to remain well-positioned to serve Fund shareholders including with regard to attracting and retaining qualified personnel on its investment teams and investing in technology. The Board received a description of, and reports related to, Invesco Advisers' global security program and business continuity plans and of its approach to data privacy and cybersecurity, including related testing. The Board also considered non-advisory services that Invesco Advisers and its affiliates provide to the Invesco Funds, such as various middle office and back office support functions, third party oversight, internal audit, valuation, portfolio trading and legal and compliance. The Board considered Invesco Advisers' systems preparedness and ongoing investment to seek to manage, operate and oversee the Invesco Funds with minimal impact or disruption through challenging environments. The Board reviewed and considered the benefits to shareholders of investing in a Fund that is part of the family of funds under the umbrella of Invesco Ltd., Invesco Advisers' parent company, and noted Invesco Ltd.'s depth and experience in running an investment management business, as well as its commitment of financial and other resources to such business. The Board concluded that the nature, extent and quality of the services provided to each Fund by Invesco Advisers supported the renewal of the investment advisory agreement.

**INVESCO PREMIER PORTFOLIO**

The Board reviewed the services that may be provided to the Fund by the Affiliated Sub-Advisers under the sub-advisory contracts and the credentials and experience of the officers and employees of the Affiliated Sub-Advisers who provide these services. The Board noted the Affiliated Sub-Advisers' expertise with respect to certain asset classes and that the Affiliated Sub-Advisers have offices

**17**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

and personnel that are located in financial centers around the world. As a result, the Board noted that the Affiliated Sub-Advisers can provide research and investment analysis on the markets and economies of various countries and territories in which the Fund may invest, make recommendations regarding securities and assist with portfolio trading. The Board concluded that the sub-advisory contracts may benefit the Fund and its shareholders by permitting Invesco Advisers to use the resources and talents of the Affiliated Sub-Advisers in managing the Fund. The Board concluded that the nature, extent and quality of the services that may be provided to the Fund by the Affiliated Sub-Advisers supported the renewal of the sub-advisory contracts.

**INVESCO PREMIER U.S. GOVERNMENT MONEY PORTFOLIO**

The Board reviewed and considered the benefits to shareholders of investing in a Fund that is part of the Invesco family of funds under the umbrella of Invesco Ltd., Invesco Advisers' parent company, and noted Invesco Ltd.'s depth and experience in conducting an investment management business, as well as its commitment of financial and other resources to such business. The Board also reviewed and considered information regarding the benefits to the Fund resulting from Invesco Ltd.'s acquisition of OppenheimerFunds, Inc. and its subsidiaries (the Transaction) and the resources that Invesco Advisers has committed to managing the Invesco family of funds following the Transaction. The Board concluded that the nature, extent and quality of the services provided to the Fund by Invesco Advisers supported the renewal of the investment advisory agreement.

*B.* *Fund Investment Performance*

**INVESCO PREMIER PORTFOLIO**

The Board considered Fund investment performance as a relevant factor in considering whether to approve the investment advisory agreement. The Board did not view Fund investment performance as a relevant factor in considering whether to approve the sub-advisory contracts for the Fund, as no Affiliated Sub-Adviser currently manages assets of the Fund.

The Board compared the Fund's investment performance over multiple time periods ending December 31, 2024 to the performance of funds in the Broadridge performance universe and against the iMoneyNet First Tier Institutional Funds Category (Index). The Board noted that performance of Investor Class shares of the Fund was in the first quintile of its performance universe for the one, three and five year periods (the first quintile being the best performing funds on a relative basis and the fifth quintile being the worst performing funds on a relative basis). The Board noted that performance of Investor Class shares of the Fund was above the performance of the Index for the one, three and

five year periods. The Board recognized that the performance data reflects a snapshot in time as of a particular date and that selecting a different performance period could produce different results. The Board also reviewed more recent Fund performance as well as other performance metrics, which did not change its conclusions.

**INVESCO PREMIER U.S. GOVERNMENT MONEY PORTFOLIO**

The Board considered Fund investment performance as a relevant factor in considering whether to approve the investment advisory agreement.

The Board compared the Fund's investment performance over multiple time periods ending December 31, 2024 to the performance of funds in the Broadridge performance universe and against the iMoneyNet Government Institutional Funds Category (Index). The Board noted that performance of Investor Class shares of the Fund was in the first quintile of its performance universe for the one, three and five year periods (the first quintile being the best performing funds on a relative basis and the fifth quintile being the worst performing funds on a relative basis). The Board noted that performance of Investor Class shares of the Fund was above the performance of the Index for the one, three and five year periods. The Board recognized that the performance data reflects a snapshot in time as of a particular date and that selecting a different performance period could produce different results. The Board also reviewed more recent Fund performance as well as other performance metrics, which did not change its conclusions.

*C.* *Advisory and Sub-Advisory Fees and Fund Expenses*

**INVESCO PREMIER PORTFOLIO**

The Board received information regarding Invesco Advisers' approach with respect to contractual management fee schedules and compared the Fund's contractual management fee rate to the contractual management fee rates of funds in the Fund's Broadridge expense group. The Board noted that the contractual management and actual management fee rates for Investor Class shares of the Fund were each reasonably comparable to the median contractual management and actual management fee rates of funds in its expense group. The Board noted that the term "contractual management fee" and "actual management fee" for funds in the expense group may include both advisory and certain non-portfolio management administrative services fees, but that Broadridge is not able to provide information on a fund-by-fund basis as to what is included. The Board also reviewed the methodology used by Broadridge in calculating expense group information, which includes using each fund's contractual management fee schedule (including any applicable breakpoints) as reported in the most

recent prospectus or statement of additional information for each fund in the expense group. The Board also considered comparative information regarding the Fund's total expense ratio and its various components. The Board noted that the Fund differs from the other Invesco Funds in that it pays "all-inclusive" unitary advisory fees that cover various Fund operating expenses.

The Board noted that Invesco Advisers has contractually agreed to waive advisory fees of the Fund in an amount and for the term disclosed in the Fund's registration statement. The Board further noted that Invesco Advisers has voluntarily undertaken to waive fees to the extent necessary to assist the Fund in attempting to maintain a positive yield.

The Board also considered the fees charged by Invesco Advisers and its affiliates to other client accounts that are similarly managed. Invesco Advisers reviewed with the Board differences in the scope of services it provides to the Invesco Funds relative to that provided by Invesco Advisers and its affiliates to certain other types of client accounts, including, among others: management of cash flows as a result of redemptions and purchases; necessary infrastructure such as officers, office space, technology, legal and distribution; oversight of service providers; costs and business risks associated with launching new funds and sponsoring and maintaining the product line; and compliance with federal and state laws and regulations. Invesco Advisers also advised the Board that many of the similarly managed client accounts have all-inclusive fee structures, which are not easily un-bundled.

The Board also compared the Fund's advisory fee rate before the application of advisory fee waivers/expense limitations to the effective advisory fee rates before the application of advisory fee waivers/expense limitations of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2024.

The Board also considered the services that may be provided by the Affiliated Sub-Advisers pursuant to the sub-advisory contracts, as well as the fees payable by Invesco Advisers to the Affiliated Sub-Advisers pursuant to the sub-advisory contracts.

**INVESCO PREMIER U.S. GOVERNMENT MONEY PORTFOLIO**

The Board received information regarding Invesco Advisers' approach with respect to contractual management fee schedules and compared the Fund's contractual management fee rate to the contractual management fee rates of funds in the Fund's Broadridge expense group. The Board noted that the contractual management and actual management fee rates for Investor Class shares of the Fund were above and reasonably comparable to, respectively, the median contractual management and actual

**18**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

management fee rates of funds in its expense group. The Board noted that the term "contractual management fee" and "actual management fee" for funds in the expense group may include both advisory and certain non-portfolio management administrative services fees, but that Broadridge is not able to provide information on a fund-by-fund basis as to what is included. The Board also reviewed the methodology used by Broadridge in calculating expense group information, which includes using each fund's contractual management fee schedule (including any applicable breakpoints) as reported in the most recent prospectus or statement of additional information for each fund in the expense group. The Board also considered comparative information regarding the Fund's total expense ratio and its various components. The Board noted that the Fund differs from the other Invesco Funds in that it pays "all-inclusive" unitary advisory fees that cover various Fund operating expenses. The Board noted that the Fund's, contractual management fees were in the fourth quintile of its expense group and discussed with management reasons for such relative contractual management fees.

The Board noted that Invesco Advisers has contractually agreed to waive advisory fees of the Fund in an amount and for the term disclosed in the Fund's registration statement. The Board further noted that Invesco Advisers has voluntarily undertaken to waive fees to the extent necessary to assist the Fund in attempting to maintain a positive yield.

The Board also considered the fees charged by Invesco Advisers and its affiliates to other client accounts that are similarly managed. Invesco Advisers reviewed with the Board differences in the scope of services it provides to the Invesco Funds relative to that provided by Invesco Advisers and its affiliates to certain other types of client accounts, including, among others: management of cash flows as a result of redemptions and purchases; necessary infrastructure such as officers, office space, technology, legal and distribution; oversight of service providers; costs and business risks associated with launching new funds and sponsoring and maintaining the product line; and compliance with federal and state laws and regulations. Invesco Advisers also advised the Board that many of the similarly managed client accounts have all-inclusive fee structures, which are not easily un-bundled.

The Board also compared the Fund's advisory fee rate before the application of advisory fee waivers/expense limitations to the effective advisory fee rates before the application of advisory fee waivers/expense limitations of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2024.

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

*D.* *Economies of Scale and Breakpoints*

The Board considered the extent to which there may be economies of scale in the provision of advisory services to each Fund and the Invesco Funds, and the extent to which such economies of scale are shared with each Fund and the Invesco Funds. The Board acknowledged the limitations in calculating and measuring economies of scale at the individual fund level; noting that only indicative and estimated measures are available at the individual fund level and that such measures are subject to uncertainty. The Board noted that each Fund does not benefit from economies of scale through contractual breakpoints, but does share in economies of scale through Invesco Advisers' ability to negotiate lower fee arrangements with third party service providers. The Board noted that each Fund may also benefit from economies of scale through initial fee setting, fee waivers and expense reimbursements, as well as Invesco Advisers' management of significant assets and investment in its business, including investments in business infrastructure, technology and cybersecurity.

*E.* *Profitability and Financial Resources*

The Board reviewed information from Invesco Advisers concerning the costs of the advisory and other services that Invesco Advisers and its affiliates provide to each Fund and the Invesco Funds and the profitability of Invesco Advisers and its affiliates in providing these services in the aggregate and on an individual fund-by-fund basis. The Board considered the methodology used for calculating profitability and the periodic review and enhancement of such methodology. The Board noted that Invesco Advisers continues to operate at a net profit from services Invesco Advisers and its affiliates provide to the Invesco Funds in the aggregate and to most Invesco Funds individually. The Board considered that profits to Invesco Advisers can vary significantly depending on the particular Invesco Fund, with some Invesco Funds showing indicative losses to Invesco Advisers and others showing indicative profits at healthy levels, and that Invesco Advisers' support for and commitment to an Invesco Fund are not, however, solely dependent on the profits attributed to such Fund. The Board did not deem the level of profits realized by Invesco Advisers and its affiliates from providing such services to be excessive, given the nature, extent and quality of the services provided. The Board noted that Invesco Advisers provided information demonstrating that Invesco Advisers is financially sound and has the resources necessary to perform its obligations under the investment advisory agreement, and provided representations indicating that the Affiliated Sub-Advisers are financially sound and have the resources necessary to perform their obligations under the sub-advisory contracts. The Board noted the cyclical and competitive

nature of the global asset management industry.&nbsp;&nbsp;&nbsp;&nbsp;

*F.* *Collateral Benefits to Invesco Advisers and its Affiliates*

The Board considered various other benefits received by Invesco Advisers and its affiliates from the relationship with each Fund, including the fees received for providing administrative, transfer agency and distribution services to each Fund. The Board received comparative information regarding fees charged for these services, including information provided by Broadridge and other independent sources. The Board reviewed the performance of Invesco Advisers and its affiliates in providing these services and the organizational structure employed to provide these services. The Board noted that these services are provided to each Fund pursuant to written contracts that are reviewed and subject to approval on an annual basis by the Board based on its reasonable business judgement and in accordance with applicable regulatory guidance.

\*Effective as of August 29, 2025, Invesco Asset Management Deutschland GmbH merged into Invesco Management S.A.

**19**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year-end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for their fiscal year ended August 31, 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Federal and State Income Tax** |  |  |  |  |  |
|  | **Business Interest** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Qualified Business** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Qualified Dividend** <br>**Income\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Corporate** <br>**Dividends** <br>**Received** <br>**Deduction\***<br>| &nbsp;&nbsp;&nbsp;&nbsp; **U.S Treasury** <br>**Obligations\***<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp; 99.93% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

---

| | | |
|:---|:---|:---|
| **Non-Resident Alien Shareholders** |  |  |
|  | **Qualified** <br>**Short-Term Gains**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Qualified** <br>**Interest Income\*\***<br>|
| Invesco Premier Portfolio | &nbsp;&nbsp; $2356 | &nbsp;&nbsp;&nbsp;&nbsp; 0.00% |

---

\*\*

The above percentages are based on income dividends paid to shareholders during the Fund's fiscal year.

**20**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

The statement regarding basis for approval of investment advisory contracts can be found in the Approval of Investment Advisory and Sub-Advisory Contracts section of this report.

**21**

**AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)**

------

![](img277f00a81.jpg)

SEC file numbers: 811-05460 and 033-19862

Invesco Distributors, Inc.

CM-I-TST-NCSR-RSC

------

Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.

Not applicable.

------

Item 9. Proxy Disclosures for Open-End Management Investment Companies.

Not applicable.

------

Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.

This information is filed under Item 7 of this Form N-CSR.

------

Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.

This information is filed under Item 7 of this Form N-CSR.

------

Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

------

Item 13. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

------

Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

------

Item 15. Submission of Matters to a Vote of Security Holders.

None.

------

Item 16. Controls and Procedures.

(a) As of a date within 90 days of the filing date of this report, an evaluation was performed under the supervision and with the participation of the officers of the Registrant, including the PEO and 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 Act. Based on that evaluation, the Registrant's officers, including the PEO and PFO, concluded that the Registrant's disclosure controls and procedures were reasonably designed to ensure: (1) that information required to be disclosed by the Registrant on Form N-CSR 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 period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

------

Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

------

Item 18. Recovery of Erroneously Awarded Compensation.

Not applicable.

------

Item 19. Exhibits.

[(a)(1) Code of Ethics is attached as Exhibit 99.CODEETH](Code_of_Ethics.htm).

(a)(2) Not applicable.

[(a)(3) Certifications of the Registrant's PEO and PFO pursuant to Rule 30a-2(a) under the Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached as Exhibit 99.CERT.](Section_302_Certification.htm)

(a)(4) Not applicable.

(a)(5) Not applicable.

[(b) Certifications of Registrant's PEO and PFO pursuant to Rule 30a-2(b) under the Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached as Exhibit 99.906CERT.](Section_906_Certification.htm)

------

#### 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) <u>AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)</u>

By: <u>/s/ Glenn Brightman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> <u>.</u>

Name: Glenn Brightman

Title: Principal Executive Officer

Date: November 7, 2025

Pursuant to the requirements of the Securities 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: <u>/s/ Glenn Brightman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> <u>.</u>

Name: Glenn Brightman

Title: Principal Executive Officer

Date: November 7, 2025

By: <u>/s/ Adrien Deberghes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> 

Name: Adrien Deberghes

Title: Principal Financial Officer

Date: November 7, 2025

------

## Ex-99.Cert

#### Exhibit 99.CERT

#### EXHIBIT (a)(3)
CERTIFICATIONS PURSUANT TO RULE 30A-2(A) UNDER THE 1940 ACT AND SECTION 302 OF

THE SARBANES-OXLEY ACT OF 2002

I, Glenn Brightman, certify that:

1. I have reviewed this report on Form N-CSR of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this report;

4. The Registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation;

(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and

5. The Registrant's other certifying officer and I have disclosed to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting.

Date:&nbsp;&nbsp;&nbsp;&nbsp; <u>&nbsp;&nbsp;&nbsp;&nbsp; November 7, 2025</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Glenn Brightman</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Glenn Brightman

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Principal Executive Officer

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#### Exhibit 99.CERT

#### EXHIBIT (a)(3)
CERTIFICATIONS PURSUANT TO RULE 30A-2(A) UNDER THE 1940 ACT AND SECTION 302 OF

THE SARBANES-OXLEY ACT OF 2002

I, Adrien Deberghes, certify that:

1. I have reviewed this report on Form N-CSR of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this report;

4. The Registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation;

(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and

5. The Registrant's other certifying officer and I have disclosed to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting.

Date:<u>November 7, 2025</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/ Adrien Deberghes</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adrien Deberghes

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Principal Financial Officer

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## Exhibit 99.906

#### Exhibit 99.906

#### &nbsp;&nbsp;&nbsp;&nbsp; EXHIBIT (b)

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
CERTIFICATIONS PURSUANT TO RULE 30A-2(B) UNDER THE 1940 ACT AND SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Certified Shareholder Report of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) on Form N-CSR for the period ended August 31, 2025, as filed with the Securities and Exchange Commission (the "Report"), I, Glenn Brightman, Principal Executive Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

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| | |
|:---|:---|
| Date: November 7, 2025  | /s/ Glenn Brightman  |
|  | Glenn Brightman <br> Principal Executive Officer  |

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#### Exhibit 99.906

#### &nbsp;&nbsp;&nbsp;&nbsp; EXHIBIT (b)

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
CERTIFICATIONS PURSUANT TO RULE 30A-2(B) UNDER THE 1940 ACT AND SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Certified Shareholder Report of AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust) on Form N-CSR for the period ended August 31, 2025, as filed with the Securities and Exchange Commission (the "Report"), I, Adrien Deberghes, Principal Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

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| | |
|:---|:---|
| Date: November 7, 2025  | /s/ Adrien Deberghes  |
|  | Adrien Deberghes <br> Principal Financial Officer  |

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## Ex-99.Code

#### Exhibit 99.CODEETH

#### EXHIBIT (a)(1)
CODE OF ETHICS FOR PRINCIPAL EXECUTIVE AND SENIOR FINANCIAL OFFICERS

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| | |
|:---|:---|
| &nbsp;&nbsp; **Applicable To**  | &nbsp;&nbsp;&nbsp;&nbsp;·Invesco Funds; <br> &nbsp;&nbsp;&nbsp;&nbsp;·Invesco Exchange-Traded Fund Trust, Invesco Exchange-Traded Fund Trust II, Invesco India Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Commodity Fund Trust and Invesco Exchange-Traded Self-Indexed Fund Trust, including (unless otherwise specifically excluded), their respective series (together with the Invesco Funds, each a "Fund," and collectively, the "Funds").  |
| &nbsp;&nbsp; **Risk Addressed by Policy**  | &nbsp;&nbsp; Ethics Violations by Principals  |
| &nbsp;&nbsp; **Relevant Law & Related Resources**  | &nbsp;&nbsp;&nbsp;&nbsp;·Investment Company Act of 1940; <br> &nbsp;&nbsp;&nbsp;&nbsp;·Sarbanes-Oxley Act of 2002  |
| &nbsp;&nbsp; **Revision Date**  | &nbsp;&nbsp; May 2024  |
| &nbsp;&nbsp; **Effective Date**  | &nbsp;&nbsp; June 2024  |

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#### GLOSSARY
I. **PURPOSE** 

This Code of Ethics (the "Code") for the Invesco Funds and series of the Trusts (with each Invesco Fund and series of the Trusts being referred to herein as a "Fund," and collectively as the "Funds") applies to each Fund's Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer or Controller or persons performing similar functions (collectively, the "Covered Officers," each of whom is set forth in Exhibit A to this Code) for the purpose of promoting:

· honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships.

· full, fair, accurate, timely and understandable disclosure in reports and documents that a registrant files with, or submits to, the Securities and Exchange Commission ("SEC") and in other public communications made by the registrant;

· compliance with applicable governmental laws, rules and regulations;

· prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code; and

· accountability for adherence to the Code.

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The Code shall be administered by the Chief Compliance Officer of the Funds (the "Chief Compliance Officer"), or his or her delegate. Each Covered Officer should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

The Chief Compliance Officer is responsible for applying this Code to specific situations in which questions are presented under it and has the authority to interpret this Code in any particular situation. However, any waivers<sup>1</sup> sought by a Covered Officer must be considered by the Independent Trustees of the relevant Fund or Funds. Any question about the application of the Code should be referred to the Funds' Chief Compliance Officer.

II. **COVERED OFFICERS TO ACT HONESTLY AND CANDIDLY** 

Each Covered Officer named in Exhibit A to this Code owes a duty to the Funds to act with integrity. Integrity requires, among other things, being honest and candid. Deceit and subordination of principle are inconsistent with integrity.

Each Covered Officer must:

· act with integrity, including being honest and candid while still maintaining the confidentiality of information where required by law or the Funds' policies;

· observe both the form and spirit of laws and governmental rules and regulations, and accounting standards;

· adhere to a high standard of business ethics; and

· place the interests of the Funds and its shareholders before the Covered Officer's own personal interests .

III. **COVERED OFFICERS SHOULD HANDLE ETHICALLY ACTUAL AND APPARENT CONFLICTS OF INTEREST** 

***Overview. A "conflict of interest" occurs when a Covered Officer's private interest interferes, or appears to interfere, with the interests of, or his/her service to, the Funds. For example, a conflict of interest would arise if a Covered Officer, or a member of his/her family, receives improper personal benefits as a result of his/her position with the Funds.***

Certain conflicts of interest arise out of the relationships between Covered Officers and the Funds and already are subject to conflict of interest provisions in the Investment Company Act of 1940 as amended ("Investment Company Act"), and the Investment Advisers Act of 1940, as amended ("Investment Advisers Act"). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with a Fund because of their status as "affiliated persons" (as defined in the Investment Company Act) of the Funds or the Funds' investment adviser. The Funds' and their investment adviser's and any sub-adviser's compliance programs and procedures are designed to prevent, or identify and correct, violations of these provisions. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside the parameters of this Code, unless or until the Chief Compliance Officer determines that any violation of such programs and procedures is also a violation of this Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts may arise from, or as a result of, the contractual relationship between the Funds and their investment adviser of which the Covered Officers are also officers or employees. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the Funds or for the investment adviser, or for both), be involved in establishing policies and implementing decisions that will have different effects on the Funds and their investment adviser. The participation of the Covered Officers in such activities is inherent in the contractual relationship between the Fund and the investment adviser and is consistent with the performance by the Covered Officers of their duties as officers of the Funds. Thus, if performed in conformity with the provisions of the Investment Company Act and the Investment Advisers Act, such activities will be deemed to have been handled ethically. In addition, it is recognized by the Funds' Board of Trustees ("Board") that the Covered Officers may also be officers or employees of one or more other investment companies covered by this or other codes.

Other conflicts of interest are covered by the Code, even if such conflicts of interest are not subject to provisions in the Investment Company Act and the Investment Advisers Act. The following list provides examples of conflicts of interest under the Code, but Covered Officers should keep in mind that these examples are not exhaustive. The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interest of the Funds.

Each Covered Officer must:

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· avoid conflicts of interest wherever possible;

· handle any actual or apparent conflict of interest ethically;

· not use his/her personal influence or personal relationships to influence investment decisions or financial reporting by the Funds whereby the Covered Officer would benefit personally (directly or indirectly) to the detriment of the Funds;

· not cause the Funds to take action, or fail to take action, for the personal benefit of the Covered Officer rather than the benefit of the Funds;

· not use material non-public knowledge of portfolio transactions made or contemplated for, or actions proposed to be taken by, the Funds to trade personally or cause others to trade personally in contemplation of the market effect of such transactions;

· as described in more detail below, discuss any material transaction or relationship that could reasonably be expected to give rise to a conflict of interest with the Chief Compliance Officer.

Each Covered Officer must, at the time of signing this Code, report to the Chief Compliance Officer all affiliations or significant business relationships outside of the Funds and must update the report annually.

Conflict of interest situations should always be approved by the Chief Compliance Officer and communicated to the relevant Fund or Fund's Board. Any activity or relationship that would present such a conflict for a Covered Officer would likely also present a conflict for the Covered Officer if an immediate member of the Covered Officer's family living in the same household engages in such an activity or has such a relationship. Examples of these include:

· service or significant business relationships as a trustee/ director on the board of any public or private company;

· being in the position of supervising, reviewing, or having any influence on the job evaluation, pay or benefit of any immediate family member;

· any ownership interest in, or any consulting or employment relationship with, any of the Funds' service providers, other than its investment adviser, principal underwriter, or any affiliated person thereof; and

· a direct or indirect financial interest in commissions, transaction charges or spreads paid by the Funds for effecting portfolio transactions or for selling or redeeming shares other than an interest arising from the Covered Officer's employment with Invesco, its subsidiaries, its parent organizations and any affiliates or subsidiaries thereof, such as compensation or equity ownership.

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IV. **DISCLOSURE AND COMPLIANCE** 

Each Covered Officer should:

· familiarize himself/herself with the disclosure and compliance requirements generally applicable to the Funds;

· not knowingly misrepresent, conceal or omit required disclosures of, or cause others to do the same, facts about the Funds to others, whether within or outside the Funds, including to the Funds' Trustees and auditors, or to governmental regulators and self-regulatory organizations;

· to the extent appropriate within his/her area of responsibility, consult with other officers and employees of the Funds and their investment adviser with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the Funds file with, or submit to, the SEC and in other public communications made by the Funds; and

· promote compliance with the standards and restrictions imposed by applicable laws, rules and regulations.

V. **REPORTING AND ACCOUNTABILITY** 

Each Covered Officer must:

· upon adoption of the Code (thereafter as applicable, upon becoming a Covered Officer), affirm in writing to the Chief Compliance Officer that he/she has received, read and understands the Code;

· annually thereafter affirm to the Chief Compliance Officer that he/she has complied with the requirements of the Code;

· not retaliate against any other Covered Officer, other officer or any employee of the Funds or their affiliated persons for reports of potential violations that are made in good faith; and

· notify the Chief Compliance Officer promptly if he/she knows of or suspects any violation of this Code. Failure to do so is itself a violation of this Code.

The Funds will follow these procedures in investigating and enforcing this Code, and in reporting on the Code:

· the Chief Compliance Officer will take all appropriate action to investigate any potential violation reported to him/her;

· if, after such investigation, the Chief Compliance Officer believes that no violation has occurred, the Chief Compliance Officer is not required to take any further action;

------

· any matter that the Chief Compliance Officer believes is a violation will be reported to the relevant Fund's Audit Committee;

· if the Independent Trustees of the relevant Funds concur that a violation has occurred, they will consider appropriate action, which may include review of, and appropriate modifications to, applicable policies and procedures; notification to appropriate personnel of the investment adviser or its board; or a recommendation to dismiss the Covered Officer or other appropriate disciplinary actions;

· the Independent Trustees of the relevant Funds will be responsible for granting waivers of this Code, as appropriate; and

· any changes to or waivers of this Code will, to the extent required, be disclosed as provided by SEC rules.

VI. **OTHER POLICIES AND PROCEDURES** 

This Code shall be the sole code of ethics adopted by the Funds for purposes of Section 406 of the Sarbanes-Oxley Act of 2002 and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the Funds, the Funds' investment adviser, principal underwriter or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code unless any provision of this Code conflicts with any applicable federal or state law, in which case the requirements of such law will govern. The Funds' and their investment adviser's and principal underwriter's codes of ethics under Rule 17j-1 under the Investment Company Act are separate requirements applying to the Covered Officers and others, and are not part of this Code.

VII. **AMENDMENTS** 

These Procedures have been adopted by the Board, including a majority of the Trustees who are not interested persons (as defined in the Investment Company Act) of the Funds (the "Independent Trustees"). All material amendments to these Procedures must either be approved in advance by the Board and the Independent Trustees or ratified by the Board and the Independent Trustees, as determined by Legal and Compliance upon consultation with counsel to the Funds. Non-material amendments to these Procedures may be made by Legal and Compliance and will be reported to the Compliance Committee, other applicable committee of the Board, or to the Board at the next scheduled in-person meeting of the Board.

VIII. **CONFIDENTIALITY** 

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the Covered Officers, the

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Chief Compliance Officer, Independent Trustees of the relevant Fund or Funds and the Independent Trustees' counsel, the relevant Fund or Funds and those Funds' counsel and the senior management of the investment adviser and its counsel.

IX. **INTERNAL USE** 

The Code is intended solely for the internal use by the Funds and does not constitute an admission, by or on behalf of any Fund, as to any fact, circumstance, or legal conclusion.

I have read and understand the terms of the above Code. I recognize the responsibilities and obligations incurred by me as a result of my being subject to the Code. I hereby agree to abide by the above Code.

#### Exhibit A
<u>Persons Covered by this Code of Ethics:</u>

· **Invesco Funds** 

o President and Principal Executive Officer – Glenn Brightman

o Treasurer and Principal Financial Officer – Adrian Deberghes

· **Invesco Exchange-Traded Fund Trust, Invesco Exchange-Traded Fund Trust II, Invesco India Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Commodity Fund Trust and Invesco Exchange-Traded Self-Indexed Fund Trust** 

o President and Principal Executive Officer — Brian Hartigan

o Treasurer and Principal Financial Officer — Kelli Gallegos

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| | |
|:---|:---|
| 1 | Item 2 of Form N-CSR defines "waiver" as "the approval by the registrant of a material departure from a provision of the code of ethics" and "implicit waiver," which must also be disclosed, as "the registrant's failure to take action within a reasonable period of time regarding a material departure from a provision of the code of ethics that has been made known to an executive officer, as defined in Rule 3b-7 under the Exchange Act, of the registrant."  |

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