# EDGAR Filing Document

**Accession Number:** 0000892538
**File Stem:** 0001193125-26-194857
**Filing Date:** 2026-4
**Character Count:** 19544
**Document Hash:** 761e0410bf37b76fa7a01a28be6f7407
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-194857.hdr.sgml**: 20260430

**ACCESSION NUMBER**: 0001193125-26-194857

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260430

**DATE AS OF CHANGE**: 20260430

**EFFECTIVENESS DATE**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SUNAMERICA SERIES TRUST
- **CENTRAL INDEX KEY:** 0000892538

**ORGANIZATION NAME:**
- **EIN:** 137002445
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0131
- **LEGAL ENTITY IDENTIFIER:** 549300E40BQMHI2LOX26

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-52742
- **FILM NUMBER:** 26920853

**BUSINESS ADDRESS:**
- **STREET 1:** 5300 MEMORIAL DRIVE
- **STREET 2:** SUITE 1150
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77007
- **BUSINESS PHONE:** 551-235-3560

**MAIL ADDRESS:**
- **STREET 1:** ONE WORLD TRADE CENTER, SUITE J
- **STREET 2:** 49TH FL
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10007

## Series and Classes Contracts Data

### SA Invesco Growth Opportunities Portfolio (Series ID: S000008091)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000021998 | Class 1      |  |
| C000021999 | Class 2      |  |
| C000022000 | Class 3      |  |

**Summary Prospectus**

**May 1, 2026**

**SunAmerica Series Trust**

**SA Invesco Growth Opportunities Portfolio**

**(Class 1, Class 2 and Class 3 Shares)**

SunAmerica Series Trust's [Statutory Prospectus and Statement of Additional Information](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000892538/000119312526182445/d67063d485bpos.htm), each dated May 1, 2026, as amended and supplemented from time to time, and the [most recent shareholder reports](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000892538/000119312526150593/8de95b0a53ad87c.htm) are incorporated into and made part of this Summary Prospectus by reference. The Portfolio is offered only to the separate accounts of certain life insurance companies and to other mutual funds. This Summary Prospectus is not intended for use by other investors.

Before you invest, you may want to review SunAmerica Series Trust's Statutory Prospectus, which contains more information about the Portfolio and its risks. You can find the Statutory Prospectus and the above-incorporated information online at https://venerable.onlineprospectus.net/funds/sast_sst/. You can also get this information at no cost by calling (800) 445-7862 or by sending an e-mail request to fundprospectus@corebridgefinancial.com.

The Securities and Exchange Commission has not approved or disapproved these securities, nor has it determined that this Summary Prospectus is accurate or complete. It is a criminal offense to state otherwise.

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**Investment Goal**

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The Portfolio's investment goal is capital appreciation.

**Fees and Expenses of the Portfolio**

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This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Portfolio. **The table and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy ("Variable Contracts") in which the Portfolio is offered.** If separate account fees were shown, the Portfolio's annual operating expenses would be higher. Please see your Variable Contract prospectus for more details on the separate account fees.

**<u>Annual Portfolio Operating Expenses</u>** (expenses that you pay each year as a percentage of the value of your investment)

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| | | | |
|:---|:---|:---|:---|
|  | **Class 1** | **Class 2** | **Class 3** |
| Management Fees | 0.74% | &nbsp;&nbsp; 0.74% | &nbsp;&nbsp; 0.74% |
| Service (12b-1) Fees |  | &nbsp;&nbsp; 0.15% | &nbsp;&nbsp; 0.25% |
| Other Expenses | 0.08% | &nbsp;&nbsp; 0.08% | &nbsp;&nbsp; 0.08% |
| &nbsp;&nbsp;&nbsp; Total Annual Portfolio <br> Operating Expenses<br>| 0.82% | &nbsp;&nbsp; 0.97% | &nbsp;&nbsp; 1.07% |

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***<u>Expense Example</u>***

This Example is intended to help you compare the cost of investing in the Portfolio with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Portfolio for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Portfolio's operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or

expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the separate account fees were reflected, the expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, your costs would be:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **1 Year** | **3 Years** | **5 Years** | **10 Years** |
| Class 1 | $84 | &nbsp;&nbsp; $262 | &nbsp;&nbsp; $455 | &nbsp;&nbsp; $1014 |
| Class 2 | 99 | &nbsp;&nbsp; 309 | &nbsp;&nbsp; 536 | &nbsp;&nbsp; 1190 |
| Class 3 | 109 | &nbsp;&nbsp; 340 | &nbsp;&nbsp; 590 | &nbsp;&nbsp; 1306 |

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***<u>Portfolio Turnover</u>*** 

The Portfolio pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual portfolio operating expenses or in the Example, affect the Portfolio's performance.

During the most recent fiscal year, the Portfolio's portfolio turnover rate was 97% of the average value of its portfolio.

**Principal Investment Strategies of the Portfolio**

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The Portfolio attempts to achieve its goal by investing in equity securities that demonstrate the potential for capital appreciation, issued generally by small-cap companies, and in other instruments that have economic characteristics similar to such securities. The Portfolio invests primarily in common stocks. The Portfolio also may invest in foreign securities, including securities of issuers located in emerging markets, i.e., those that are generally in the early stages of their industrial cycles (up to 25% of

SunAmerica Series Trust

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**SA Invesco Growth Opportunities Portfolio**

net assets) as well as in developed markets. The Portfolio may invest up to 10% of its total assets in real estate investment trusts ("REITs"). The Portfolio invests primarily in securities that are considered by the Portfolio's portfolio managers to have the potential for earnings or revenue growth.

In selecting investments, the subadviser utilizes a disciplined portfolio construction process that calibrates the Portfolio's sector-related exposure relative to the Russell 2000<sup>®</sup> Growth Index, which the subadviser believes generally represents the small cap growth asset class. The Portfolio uses this index as a guide in structuring and reviewing the portfolio, but the Portfolio is not an index fund that seeks to replicate the performance of the index. The security selection process is based on a three-step process that includes fundamental, valuation, and timeliness analysis. Fundamental analysis involves building a series of financial models, as well as conducting in-depth interviews with company management. The goal is to find high quality, fundamentally sound issuers operating in an attractive industry. Valuation analysis focuses on identifying attractively valued securities given their growth potential over a one-to-two year horizon. Timeliness analysis is used to help identify the "timeliness" of a purchase. In this step, relative price strength, trading volume characteristics, and trend analysis are reviewed for signs of deterioration. If a security shows signs of deterioration, it will not be considered as a candidate for the portfolio. The subadviser considers selling a security if the investment thesis for owning the security is no longer valid, the stock reaches its price target or timeliness factors indicate that the risk/return characteristics of the stock as viewed in the market are no longer attractive.

**Principal Risks of Investing in the Portfolio**

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As with any mutual fund, there can be no assurance that the Portfolio's investment goal will be met or that the net return on an investment in the Portfolio will exceed what could have been obtained through other investment or savings vehicles. Shares of the Portfolio are not bank deposits and are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation. If the value of the assets of the Portfolio goes down, you could lose money.

The following is a summary of the principal risks of investing in the Portfolio.

**Equity Securities Risk.** The Portfolio invests principally in equity securities and is therefore subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly.

**Small-Cap Companies Risk.** Securities of small-cap companies are usually more volatile and entail greater risks than securities of large companies.

**Growth Stock Risk.** The Portfolio invests substantially in growth style stocks. Growth stocks may lack the dividend yield associated with value stocks that can cushion total return in a bear market. Also, growth stocks normally carry a higher price/earnings ratio than many other stocks. Consequently, if earnings expectations are not met, the market price of growth stocks will often decline more than other stocks.

**Foreign Investment Risk.** The Portfolio's investments in the securities of foreign issuers or issuers with significant exposure to foreign markets involve additional risk. Foreign countries in which the Portfolio invests may have markets that are less liquid, less regulated and more volatile than U.S. markets. The value of the Portfolio's investments may decline because of factors affecting the particular issuer as well as foreign markets and issuers generally, such as unfavorable government actions, and political or financial instability and other conditions or events (including, for example, military confrontations, war, terrorism, sanctions, disease/virus, outbreaks and epidemics). Lack of relevant data and reliable public information may also affect the value of these securities. The risks of foreign investments are heightened when investing in issuers in emerging market countries.

**Emerging Markets Risk.** Risks associated with investments in emerging markets may include: delays in settling portfolio securities transactions; currency and capital controls; greater sensitivity to interest rate changes; pervasive corruption and crime; exchange rate volatility; inflation, deflation or currency devaluation; violent military or political conflicts; confiscations and other government restrictions by the United States or other governments; and government instability. As a result, investments in emerging market securities tend to be more volatile than investments in developed countries.

**Management Risk.** The Portfolio is subject to management risk because it is an actively-managed investment portfolio. The Portfolio's portfolio managers apply investment techniques and risk analyses in making investment decisions, but there can be no guarantee that these decisions or the individual securities selected by the portfolio managers will produce the desired results.

**Real Estate Industry Risk.** These risks include declines in the value of real estate, risks related to general and local economic conditions, overbuilding and increased competition, increases in property taxes and operating expenses, changes in zoning laws, casualty or condemnation losses, fluctuations in rental income,

SunAmerica Series Trust

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**SA Invesco Growth Opportunities Portfolio**

changes in neighborhood values, the appeal of properties to tenants and increases in interest rates. The Portfolio also could be subject to the risks of direct ownership as a result of a default on a debt security it may own. If the Portfolio has rental income or income from the disposition of real property, the receipt of such income may adversely affect its ability to retain its tax status as a regulated investment company. In addition, REITs are dependent upon management skill, may not be diversified and are subject to project financing risks. REITs are also subject to heavy cash flow dependency, defaults by borrowers, self-liquidation and the possibility of failing to qualify for tax-free pass-through of income under the Internal Revenue Code of 1986, as amended, and to maintain exemption from registration under the Investment Company Act of 1940, as amended.

**Sector or Industry Focus Risk.** To the extent the Portfolio invests a significant portion of its assets in one or more sectors or industries at a time, the Portfolio will face a greater risk of loss due to factors affecting sectors or industries than if the Portfolio always maintained wide diversity among the sectors and industries in which it invests.

**Issuer Risk.** The value of a security may decline for a number of reasons directly related to the issuer, such as management performance, financial leverage and reduced demand for the issuer's goods and services.

**Market Risk.** The Portfolio's share price or the market as a whole can decline for many reasons or be adversely affected by a number of factors, including, without limitation: weakness in the broad market, a particular industry, or specific holdings; adverse social, political, regulatory or economic developments in the United States or abroad; changes in investor psychology; technological disruptions; heavy institutional selling; military confrontations, war, terrorism and other armed conflicts, trade wars and sanctions, disease/virus outbreaks and epidemics; recessions; taxation and international tax treaties; currency, interest rate and price fluctuations; and other conditions or events. In addition, the subadviser's assessment of securities held in the Portfolio may prove incorrect, resulting in losses or poor performance even in a rising market. <br>

**Affiliated Fund Rebalancing Risk.** The Portfolio may be an investment option for other mutual funds for which

SunAmerica Asset Management, LLC ("SunAmerica") serves as investment adviser that are managed as "funds of funds." From time to time, the Portfolio may experience relatively large redemptions or investments due to the rebalancing of a fund of funds. In the event of such redemptions or investments, the Portfolio could be required to sell securities or to invest cash at a time when it is not advantageous to do so.

**Performance Information**

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The following bar chart illustrates the risks of investing in the Portfolio by showing changes in the Portfolio's performance from calendar year to calendar year and the table compares the Portfolio's average annual returns to those of the Russell 3000<sup>®</sup> Index (a broad-based securities market index) and the Russell 2000<sup>®</sup> Growth Index, which is relevant to the Portfolio because it has characteristics similar to the Portfolios investment strategies. Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. Of course, past performance is not necessarily an indication of how the Portfolio will perform in the future.

**(Class 1 Shares)**

![](g73030growthopp_sast1.jpg)

During the period shown in the bar chart:

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| | | |
|:---|:---|:---|
| Highest Quarterly <br> Return:<br>| June 30, 2020 | 32.99% |
| Lowest Quarterly <br> Return:<br>| June 30, 2022 | -22.44% |
| Year to Date Most <br> Recent Quarter:<br>| March 31, 2026 | 0.65% |

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SunAmerica Series Trust

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**SA Invesco Growth Opportunities Portfolio**

**Average Annual Total Returns** (For the periods ended December 31, 2025)

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| | | | |
|:---|:---|:---|:---|
|  | 1<br> Year<br>| 5<br> Years<br>| 10<br> Years<br>|
| Class 1 Shares | &nbsp;&nbsp; 6.10% | -0.73% | &nbsp;&nbsp; 9.13% |
| Class 2 Shares | &nbsp;&nbsp; 5.99% | -0.86% | &nbsp;&nbsp; 8.97% |
| Class 3 Shares | &nbsp;&nbsp; 5.92% | -0.96% | &nbsp;&nbsp; 8.86% |
| &nbsp;&nbsp;&nbsp;&nbsp; Russell 3000® Index (reflects no <br> deduction for fees, expenses or <br> taxes)<br>| 17.15% | 13.15% | 14.29% |
| &nbsp;&nbsp;&nbsp;&nbsp; Russell 2000® Growth Index (reflects <br> no deduction for fees, expenses or <br> taxes)<br>| 13.01% | &nbsp;&nbsp; 3.18% | &nbsp;&nbsp; 9.57% |

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**Investment Adviser**

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The Portfolio's investment adviser is SunAmerica.

The Portfolio is subadvised by Invesco Advisers, Inc.

***<u>Portfolio Managers</u>*** 

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| | |
|:---|:---|
| **Name and Title** | **Portfolio**<br> **Manager of the**<br> **Portfolio Since**<br>|
| &nbsp;&nbsp;&nbsp; Juan Hartsfield, CFA<br> Lead Portfolio Manager<br>| 2019 |
| &nbsp;&nbsp;&nbsp; Clay Manley, CFA<br> Portfolio Manager<br>| 2019 |
| &nbsp;&nbsp;&nbsp; Justin Sander, CFA<br> Portfolio Manager<br>| 2018 |

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**Purchases and Sales of Portfolio Shares**

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Shares of the Portfolios may only be purchased or redeemed through Variable Contracts offered by the separate accounts of participating life insurance companies and by other portfolios of the Trust and Seasons Series Trust. Shares of a Portfolio may be purchased and redeemed each day the New York Stock Exchange is open, at the Portfolio's net asset value determined after receipt of a request in good order.

The Portfolios do not have any initial or subsequent investment minimums. However, your insurance company may impose investment or account minimums. Please consult the prospectus (or other offering document) for your Variable Contract which may contain additional information about purchases and redemptions of Portfolio shares.

**Tax Information**

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The Portfolios will not be subject to U.S. federal income tax so long as they qualify as regulated investment companies and distribute their income and gains each year to their shareholders. However, contractholders may be subject to U.S. federal income tax (and a U.S. federal Medicare tax of 3.8% that applies to net investment income, including taxable annuity payments, if applicable) upon withdrawal from a Variable Contract. Contractholders should consult the prospectus (or other offering document) for the Variable Contract for additional information regarding taxation.

**Payments to Broker-Dealers and** <br> **Other Financial Intermediaries**

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The Portfolios are not sold directly to the general public but instead are offered as an underlying investment option for Variable Contracts and to other portfolios of the Trust and Seasons Series Trust. A Portfolio and its related companies may make payments to the sponsoring insurance company (or its affiliates) for distribution and/or other services. These payments may create a conflict of interest as they may be a factor that the insurance company considers in including a Portfolio as an underlying investment option in the Variable Contract. The prospectus (or other offering document) for your Variable Contract may contain additional information about these payments.

CSP-8670_408_309_659.10 (5/26)

SunAmerica Series Trust

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