AIM Treasurers Series Trust Invesco Treasurer'S Series Trust

11/06/2024 | Press release | Distributed by Public on 11/06/2024 10:36

Annual Report by Investment Company Form N CSR

8dcfe7f035e85d2
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:
(713) 626-1919
Date of fiscal year end:
August 31
Date of reporting period:
August 31, 2024
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:
Invesco Premier Portfolio
Investor Class: IMRXX
ANNUAL SHAREHOLDER REPORT | August 31, 2024
This annual shareholder report contains important information about Invesco Premier Portfolio (the "Fund") for the period September 1, 2023 to August 31, 2024. 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 Costs paid as a percentage
of a $10,000 investment
Invesco Premier Portfolio
(Investor Class) 		$18 0.18%†
​†
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, 2024)
Fund net assets $7,732,427,179
Total number of portfolio holdings 115
Total advisory fees paid $11,567,558
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Composition by maturity, in days
(% of total investments)
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.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
Invesco Premier Portfolio
Institutional Class: IPPXX
ANNUAL SHAREHOLDER REPORT | August 31, 2024
This annual shareholder report contains important information about Invesco Premier Portfolio (the "Fund") for the period September 1, 2023 to August 31, 2024. 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 Costs paid as a percentage
of a $10,000 investment
Invesco Premier Portfolio
(Institutional Class) 		$18 0.18%†
​†
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, 2024)
Fund net assets $7,732,427,179
Total number of portfolio holdings 115
Total advisory fees paid $11,567,558
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Composition by maturity, in days
(% of total investments)
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.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
Invesco Premier Portfolio
Private Investment Class: IPTXX
ANNUAL SHAREHOLDER REPORT | August 31, 2024
This annual shareholder report contains important information about Invesco Premier Portfolio (the "Fund") for the period September 1, 2023 to August 31, 2024. 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 Costs paid as a percentage
of a $10,000 investment
Invesco Premier Portfolio
(Private Investment Class) 		$49 0.48%†
​†
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, 2024)
Fund net assets $7,732,427,179
Total number of portfolio holdings 115
Total advisory fees paid $11,567,558
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Composition by maturity, in days
(% of total investments)
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.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
Invesco Premier Portfolio
Personal Investment Class: IPVXX
ANNUAL SHAREHOLDER REPORT | August 31, 2024
This annual shareholder report contains important information about Invesco Premier Portfolio (the "Fund") for the period September 1, 2023 to August 31, 2024. 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 Costs paid as a percentage
of a $10,000 investment
Invesco Premier Portfolio
(Personal Investment Class) 		$75 0.73%†
​†
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, 2024)
Fund net assets $7,732,427,179
Total number of portfolio holdings 115
Total advisory fees paid $11,567,558
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Composition by maturity, in days
(% of total investments)
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.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
Invesco Premier Portfolio
Reserve Class: IRVXX
ANNUAL SHAREHOLDER REPORT | August 31, 2024
This annual shareholder report contains important information about Invesco Premier Portfolio (the "Fund") for the period September 1, 2023 to August 31, 2024. 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 Costs paid as a percentage
of a $10,000 investment
Invesco Premier Portfolio
(Reserve Class) 		$107 1.05%†
​†
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, 2024)
Fund net assets $7,732,427,179
Total number of portfolio holdings 115
Total advisory fees paid $11,567,558
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Composition by maturity, in days
(% of total investments)
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.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
Invesco Premier Portfolio
Resource Class: IRCXX
ANNUAL SHAREHOLDER REPORT | August 31, 2024
This annual shareholder report contains important information about Invesco Premier Portfolio (the "Fund") for the period September 1, 2023 to August 31, 2024. 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 Costs paid as a percentage
of a $10,000 investment
Invesco Premier Portfolio
(Resource Class) 		$35 0.34%†
​†
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, 2024)
Fund net assets $7,732,427,179
Total number of portfolio holdings 115
Total advisory fees paid $11,567,558
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Composition by maturity, in days
(% of total investments)
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.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
Invesco Premier U.S. Government Money Portfolio
Investor Class: FUGXX
ANNUAL SHAREHOLDER REPORT | August 31, 2024
This annual shareholder report contains important information about Invesco Premier U.S. Government Money Portfolio (the "Fund") for the period September 1, 2023 to August 31, 2024. 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 Costs paid as a percentage
of a $10,000 investment
Invesco Premier U.S. Government Money Portfolio
(Investor Class) 		$18 0.18%†
​†
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, 2024)
Fund net assets $19,292,869,736
Total number of portfolio holdings 117
Total advisory fees paid $35,143,025
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Composition by maturity, in days
(% of total investments)
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.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
Invesco Premier U.S. Government Money Portfolio
Institutional Class: IUGXX
ANNUAL SHAREHOLDER REPORT | August 31, 2024
This annual shareholder report contains important information about Invesco Premier U.S. Government Money Portfolio (the "Fund") for the period September 1, 2023 to August 31, 2024. 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 Costs paid as a percentage
of a $10,000 investment
Invesco Premier U.S. Government Money Portfolio
(Institutional Class) 		$18 0.18%†
​†
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, 2024)
Fund net assets $19,292,869,736
Total number of portfolio holdings 117
Total advisory fees paid $35,143,025
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Composition by maturity, in days
(% of total investments)
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.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

(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. The Code was revised to include PEOs and PFOs of certain Invesco exchange traded funds, previously covered by a separate code of ethics. There were no waivers for the fiscal year ended August 31, 2024.


Item 3. Audit Committee Financial Expert.

The Board of Trustees has determined that the Registrant has at least one audit committee financial expert serving on its Audit Committee. The Audit Committee financial expert is Anthony J. LaCava, Jr. Anthony J. LaCava, Jr. 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 for Services Rendered to the Registrant for fiscal year end 2024

Fees Billed for Services Rendered to the Registrant for fiscal year end 2023

Audit Fees

$ 41,230

$ 39,486

Audit-Related Fees

$ 0

$ 0

Tax Fees(1)

$ 28,330

$ 29,264

All Other Fees

$ 0

$ 0

Total Fees

$ 69,560

$ 68,750

(1)

Tax Fees for the fiscal years ended 2024 and 2023 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-Audit Services Rendered to Invesco and Invesco Affiliates for fiscal year end 2024 That Were Required

to be Pre-Approved

by the Registrant's

Audit Committee

Fees Billed for Non-Audit Services Rendered to Invesco and Invesco Affiliates for fiscal year end 2023 That Were Required

to be Pre-Approved

by the Registrant's

Audit Committee

Audit-Related Fees(1)

$ 1,121,000

$ 957,000

Tax Fees

$ 0

$ 0

All Other Fees

$ 0

$ 0

Total Fees

$ 1,121 ,000

$ 957,000

(1) Audit-Related Fees for the fiscal years ended 2024 and 2023 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").1 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.

Audit-Related Services

"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.

Tax Services

"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.

Other Services

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. Appendix Iincludes a list of services that the Auditor is prohibited from performing by the SEC rules. Appendix Ialso 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 $6,608,000 for the fiscal year ended August 31, 2024 and $6,721,000 for the fiscal year ended August 31, 2023. In total, PwC billed the Registrant, Invesco and Invesco Affiliates aggregate non-audit fees of $7,757,330 for the fiscal year ended August 31, 2024 and $7,707,264 for the fiscal year ended August 31, 2023.

PwC provided audit services to the Investment Company complex of approximately $34 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.


Annual Financial Statements and Other Information August 31, 2024
Investor Class
AIM Treasurer's Series Trust
(Invesco Treasurer's Series Trust)
Invesco Premier Portfolio
Invesco Premier U.S. Government Money Portfolio
2 Schedules of Investments
13 Financial Statements
16 Financial Highlights
17 Notes to Financial Statements
22 Report of Independent Registered Public Accounting Firm
23 Approval of Investment Advisory and Sub-Advisory Contracts
26 Tax Information
27 Other Information Required in Form N-CSR (Items 8-11)
Table of Contents
Schedule of Investments
August 31, 2024
Invesco Premier Portfolio
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
Commercial Paper-44.22%(a)
Asset-Backed Securities - Consumer Receivables-0.44%
Old Line Funding LLC (CEP - Royal Bank of Canada)(b)(c) 5.00% 02/03/2025 $     10,000 $    9,789,889
Thunder Bay Funding LLC (CEP - Royal Bank of Canada)(b)(c) 5.76% 11/22/2024     25,000   24,689,653
34,479,542
Asset-Backed Securities - Fully Supported-8.25%
Anglesea Funding PLC (Multi - CEP's), (1 mo. OBFR + 0.14%)(b)(c)(d) 5.59% 11/21/2024     40,000   40,000,000
Anglesea Funding PLC (Multi - CEP's), (1 mo. OBFR + 0.14%)(b)(c)(d) 5.55% 12/03/2024     80,000   80,000,000
Aquitaine Funding Co. LLC (CEP - Societe Generale S.A.)(b)(c) 5.42% 11/01/2024     50,000   49,547,584
Bennington Stark Capital Co. LLC (CEP - Societe Generale S.A.), (SOFR + 0.20%)(b)(c)(d) 5.54% 10/28/2024     90,000   90,000,000
Great Bear Funding LLC (CEP - Bank of Nova Scotia), (1 mo. OBFR + 0.23%)(c)(d) 5.66% 01/15/2025     50,000   50,000,000
Great Bear Funding LLC (CEP - Bank of Nova Scotia), (1 mo. OBFR + 0.23%)(c)(d) 5.66% 01/15/2025     60,000   60,000,000
Great Bear Funding LLC (CEP - Bank of Nova Scotia), (1 mo. OBFR + 0.30%)(c)(d) 5.69% 03/28/2025     50,000   50,000,000
Longship Funding LLC (CEP - Nordea Bank AB)(b)(c) 5.34% 09/05/2024    100,000   99,940,778
Mountcliff Funding LLC (Multi - CEP's)(b)(c) 5.40% 10/23/2024     20,000   19,846,022
Mountcliff Funding LLC (Multi - CEP's)(b)(c) 5.38% 10/31/2024     50,000   49,557,500
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)(b)(c) 5.52% 11/14/2024     50,000   49,448,083
638,339,967
Asset-Backed Securities - Fully Supported Bank-3.72%
Cabot Trail Funding LLC (CEP - Toronto-Dominion Bank)(b)(c) 5.39% 12/20/2024     50,000   49,193,333
Collateralized Commercial Paper V Co. LLC (CEP - JPMorgan Securities LLC), (SOFR + 0.32%)(d) 5.72% 04/11/2025     50,000   50,000,000
Collateralized Commercial Paper V Co. LLC (CEP - JPMorgan Securities LLC), (SOFR + 0.32%)(d) 5.72% 04/17/2025     50,000   50,000,000
Collateralized Commercial Paper V Co. LLC (CEP - JPMorgan Securities LLC), (SOFR + 0.30%)(d) 5.69% 05/23/2025     15,000   15,000,000
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.48% 10/03/2024     41,225   41,027,853
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.41% 10/17/2024      5,336    5,299,523
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.42% 10/23/2024     14,700   14,586,402
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.40% 10/25/2024     37,585   37,284,508
Mont Blanc Capital Corp. (CEP - ING Bank N.V.)(b)(c) 5.48% 09/17/2024     18,170   18,126,553
Sheffield Receivables Co. LLC (CEP - Barclays Bank PLC)(b) 5.40% 10/23/2024      7,000    6,946,108
287,464,280
Consumer Finance-0.64%
Toyota Finance Australia Ltd. (Australia)(c) 5.56% 10/15/2024     50,000   49,666,944
Diversified Banks-26.86%
Australia & New Zealand Banking Group Ltd. (Australia)(b)(c) 5.36% 09/18/2024     25,000   24,939,201
Australia & New Zealand Banking Group Ltd. (SOFR + 0.20%) (Australia)(b)(c)(d) 5.65% 10/30/2024     25,000   25,000,000
Australia & New Zealand Banking Group Ltd. (SOFR + 0.34%) (Australia)(b)(c)(d) 5.80% 01/08/2025     50,000   50,000,000
Australia & New Zealand Banking Group Ltd. (Australia)(b)(c) 5.41% 06/26/2025     50,000   47,876,750
Bank of Montreal (Canada)(c) 5.50% 06/11/2025     25,000   23,976,090
Bank of Montreal (SOFR + 0.35%) (Canada)(c)(d) 5.76% 06/25/2025     75,000   75,000,000
Barclays Bank PLC (SOFR + 0.25%)(b)(c)(d) 5.58% 10/11/2024     50,000   50,000,000
Barclays Bank PLC(b)(c) 5.40% 10/23/2024      4,500    4,465,355
Barclays Bank PLC (SOFR + 0.25%)(b)(c)(d) 5.71% 11/19/2024     50,000   50,000,000
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)
Table of Contents
Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
Diversified Banks-(continued)
Barclays Bank PLC(b)(c) 5.08% 01/02/2025 $     30,000 $   29,489,550
Barclays Bank PLC (SOFR + 0.21%)(b)(c)(d) 5.65% 01/15/2025     50,000   50,000,000
Barclays Bank PLC(b)(c) 5.08% 02/04/2025     45,000   44,034,750
Canadian Imperial Bank of Commerce (Canada)(b)(c) 5.34% 09/03/2024    100,000   99,970,389
Citigroup Global Markets, Inc.(b) 5.55%-5.56% 01/23/2025    100,000   97,868,000
Citigroup Global Markets, Inc.(b) 5.63% 04/30/2025     50,000   48,215,931
Commonwealth Bank of Australia (SOFR + 0.55%) (Australia)(b)(c)(d) 5.98% 10/10/2024     45,000   45,000,000
Commonwealth Bank of Australia (Australia)(b)(c) 5.95% 10/16/2024     50,000   49,648,750
Commonwealth Bank of Australia (SOFR + 0.35%) (Australia)(b)(c)(d) 5.72% 01/03/2025    100,000  100,000,000
Dexia S.A.(b)(c) 5.34% 10/01/2024     85,000   84,624,583
DNB Bank ASA (Norway)(b)(c) 5.94% 09/18/2024     45,000   44,881,000
DNB Bank ASA (Norway)(b)(c) 5.25% 09/24/2024     26,700   26,613,855
DNB Bank ASA (Norway)(b)(c) 5.97% 10/01/2024     50,000   49,765,417
DNB Bank ASA (Norway)(b)(c) 5.46% 11/22/2024     73,500   72,610,180
ING (US) Funding LLC (SOFR + 0.30%)(b)(c)(d) 5.68% 02/10/2025     35,000   34,998,948
ING (US) Funding LLC(b)(c) 5.21% 04/17/2025     50,000   48,413,500
National Australia Bank Ltd. (SOFR + 0.25%) (Australia)(b)(c)(d) 5.63% 03/17/2025     50,000   49,999,897
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.18%) (Singapore)(b)(c)(d) 5.61% 12/04/2024     40,000   39,998,932
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.21%) (Singapore)(b)(c)(d) 5.66% 01/10/2025     50,000   50,000,000
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.65% 01/14/2025     55,000   55,000,000
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.65% 02/18/2025     27,000   26,999,947
Royal Bank of Canada (SOFR + 0.55%) (Canada)(b)(c)(d) 6.02% 09/23/2024    100,000  100,000,000
Royal Bank of Canada (SOFR + 0.35%) (Canada)(b)(c)(d) 5.76% 07/29/2025     25,000   25,000,000
Svenska Handelsbanken AB (SOFR + 0.21%) (Sweden)(b)(c)(d) 5.67% 01/03/2025     35,000   34,999,962
Svenska Handelsbanken AB (SOFR + 0.21%) (Sweden)(b)(c)(d) 5.68% 02/24/2025     74,000   74,000,000
Toronto-Dominion Bank (The) (Canada)(b)(c) 5.19% 12/02/2024     50,000   49,367,500
United Overseas Bank Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.66% 01/22/2025     50,000   50,000,000
United Overseas Bank Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.64% 01/23/2025     50,000   50,000,000
United Overseas Bank Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.66% 02/20/2025     60,000   60,000,000
Westpac Banking Corp. (Australia)(b)(c) 5.93% 09/05/2024     30,000   29,981,333
Westpac Banking Corp. (Australia)(b)(c) 5.41% 09/11/2024      3,950    3,944,295
Westpac Banking Corp. (SOFR + 0.55%) (Australia)(b)(c)(d) 5.98% 10/08/2024    100,000  100,000,000
2,076,684,115
Diversified Capital Markets-3.34%
BofA Securities, Inc. (SOFR + 0.49%)(d) 5.97% 11/29/2024     25,000   25,000,000
BofA Securities, Inc. (SOFR + 0.40%)(d) 5.83% 08/22/2025     25,000   25,000,000
UBS AG(b)(c) 5.41% 10/02/2024     30,000   29,865,666
UBS AG (SOFR + 0.25%)(b)(c)(d) 5.71% 11/22/2024     30,000   30,000,000
UBS AG(b)(c) 5.50% 02/18/2025     75,000   73,130,000
UBS AG (SOFR + 0.31%)(b)(c)(d) 5.77% 02/24/2025     75,000   75,000,000
257,995,666
Specialized Finance-0.97%
Caisse d'Amortissement de la Dette Sociale (France)(b)(c) 5.41% 09/23/2024     50,000   49,837,750
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)
Table of Contents
Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
Specialized Finance-(continued)
CDP Financial, Inc. (SOFR + 0.34%) (Canada)(b)(c)(d) 5.80% 01/09/2025 $     25,000 $   25,000,000
74,837,750
Total Commercial Paper (Cost $3,419,468,264) 3,419,468,264
Certificates of Deposit-19.28%
Australia & New Zealand Banking Group Ltd.(c) 5.32% 09/03/2024    100,000  100,000,000
Bank of America N.A. (SOFR + 0.35%)(d) 5.69% 01/07/2025     50,000   50,000,000
Bank of America N.A. 5.50% 05/23/2025     80,000   80,000,000
Bank of America N.A. (SOFR + 0.38%)(d) 5.71% 07/03/2025     50,000   50,000,000
Cooperatieve Rabobank U.A.(c) 5.31% 09/03/2024    150,000  150,000,000
Cooperatieve Rabobank U.A.(c) 5.56% 12/04/2024     22,000   22,003,218
Credit Agricole Corporate & Investment Bank(c) 5.31% 09/03/2024    250,000  250,000,000
DZ Bank AG(c) 5.15% 04/29/2025     50,000   50,021,544
Korea Development Bank (The) (SOFR + 0.27%) (South Korea)(c)(d) 5.60% 03/13/2025     20,000   20,000,998
Mizuho Bank Ltd.(c) 5.32% 09/03/2024    245,000  245,000,000
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.21%) (Singapore)(c)(d) 5.54% 01/03/2025     40,000   40,000,000
Royal Bank of Canada(c) 5.93% 09/16/2024     25,000   25,000,000
Sumitomo Mitsui Trust Bank Ltd.(c) 5.31% 09/03/2024    150,000  150,000,000
Svenska Handelsbanken AB(c) 5.31% 09/03/2024     75,000   75,000,000
Svenska Handelsbanken AB (SOFR + 0.25%) (Sweden)(c)(d) 5.58% 02/28/2025     30,000   29,999,934
Swedbank AB(c) 5.39% 12/02/2024     50,000   50,000,000
Toronto-Dominion Bank (The)(c) 6.00% 09/09/2024     30,000   30,000,000
Toronto-Dominion Bank (The)(c) 6.00% 09/20/2024      8,719    8,720,164
Toronto-Dominion Bank (The)(c) 5.42% 04/08/2025     20,000   20,000,000
Toronto-Dominion Bank (The)(c) 5.48% 05/21/2025     20,000   20,000,000
Toronto-Dominion Bank (The)(c) 5.07% 07/25/2025     25,000   25,000,000
Total Certificates of Deposit (Cost $1,490,745,858) 1,490,745,858
Variable Rate Demand Notes-2.16%(e)
Credit Enhanced-2.16%
Altoona-Blair County Development Corp.; Series 2015, VRD Bonds (LOC - PNC Bank, N.A.)(b)(f) 5.39% 09/11/2024     17,850   17,850,000
Board of Regents of the University of Texas System; Subseries 2016 G-1, VRD RB 5.30% 08/01/2045     90,240   90,240,000
Jets Stadium Development LLC; Series 2014 A-4B, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)(b)(c)(f) 5.92% 09/11/2024     12,700   12,700,000
Jets Stadium Development LLC; Series 2014 A-4C, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)(b)(c)(f) 5.92% 09/11/2024     27,700   27,700,000
Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank, N.A.)(f) 5.38% 09/12/2024     14,060   14,060,000
Ziegler Realty LLC; Series 2007, VRD Notes (LOC - Wells Fargo Bank, N.A.)(b)(f) 5.36% 01/01/2033      4,100    4,100,000
Total Variable Rate Demand Notes (Cost $166,650,000) 166,650,000
U.S. Dollar Denominated Bonds & Notes-0.15%
Diversified Banks-0.15%
Royal Bank of Canada (Canada)(c)(Cost $11,784,339) 4.95% 04/25/2025     11,812   11,784,339
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-65.81%
(Cost $5,088,648,461) 		5,088,648,461
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)
Table of Contents
Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Repurchase
Amount 		Value
Repurchase Agreements-34.30%(g)
BMO Capital Markets Corp., joint term agreement dated 08/28/2024, aggregate maturing value of $125,132,465 (collateralized by agency and non-agency asset-backed securities, agency and non-agency mortgage-backed securities, corporate obligations, U.S. government sponsored agency obligations, U.S. Treasury obligations valued at $134,989,623; 0.00% - 12.96%; 10/25/2024 - 06/20/2074)(c)(h) 5.45% 09/04/2024 $ 60,063,583 $   60,000,000
BMO Capital Markets Corp., joint term agreement dated 08/28/2024, aggregate maturing value of $475,500,597 (collateralized by agency and non-agency asset-backed securities, agency and non-agency mortgage-backed securities, corporate obligations, U.S. government sponsored agency obligations, U.S. Treasury obligations valued at $493,050,532; 0.00% - 9.91%; 09/10/2024 - 06/20/2074)(c)(h) 5.42% 09/04/2024 120,126,467  120,000,000
BNP Paribas Securities Corp., term agreement dated 08/27/2024, maturing value of $20,021,000 (collateralized by agency mortgage-backed securities, corporate obligations and a non-agency asset-backed security valued at $20,943,618; 2.29% - 5.95%; 06/06/2025 - 04/05/2054)(c)(h) 5.40% 09/03/2024  20,021,000   20,000,000
BNP Paribas Securities Corp., term agreement dated 08/28/2024, maturing value of $110,115,500 (collateralized by non-agency asset-backed securities, agency and non-agency mortgage-backed securities and corporate obligations valued at $114,513,083; 0.33% - 9.95%; 08/15/2025 - 06/25/2069)(c)(h) 5.40% 09/04/2024 110,115,500  110,000,000
BNP Paribas Securities Corp., term agreement dated 08/28/2024, maturing value of $140,148,633 (collateralized by non-agency asset-backed securities and non-agency mortgage-backed securities valued at $154,019,189; 4.71% - 15.49%; 12/21/2026 - 05/25/2065)(c)(h) 5.46% 09/04/2024 140,148,633  140,000,000
Credit Agricole Corporate & Investment Bank, joint open agreement dated 07/17/2024 (collateralized by commercial paper, corporate obligations, non-agency asset-backed securities, non-agency mortgage-backed securities and a U.S. Treasury obligation valued at $157,096,330; 0.00% - 11.00%; 09/24/2024 - 05/24/2061)(c)(i) 5.45% 09/03/2024  30,149,500   30,000,000
ING Financial Markets, LLC, joint agreement dated 08/30/2024, aggregate maturing value of $450,269,500 (collateralized by equity securities valued at $472,500,054; 0.00%)(c) 5.39% 09/03/2024 120,071,867  120,000,000
J.P. Morgan Securities LLC, open agreement dated 07/17/2024 (collateralized by commercial paper, corporate obligations and non-agency asset-backed securities valued at $184,631,041; 0.00% - 9.50%; 10/03/2024 - 11/30/2063)(i) 5.62% 09/03/2024 175,901,931  175,000,000
Mizuho Securities (USA) LLC, joint open agreement dated 06/20/2024 (collateralized by equity securities valued at $294,000,033; 0.00%)(c)(i) 5.47% 09/03/2024 140,085,089  140,000,000
RBC Capital Markets LLC, joint term agreement dated 08/27/2024, aggregate maturing value of $150,160,417 (collateralized by agency mortgage-backed securities, commercial paper, corporate obligations and a non-agency mortgage-backed security valued at $164,938,678; 0.00% - 14.00%; 09/20/2024 - 01/15/2077)(c)(h) 5.50% 09/03/2024  30,032,083   30,000,000
Societe Generale, open agreement dated 07/17/2024 (collateralized by commercial paper, corporate obligations, non-agency asset-backed securities and non-agency mortgage-backed securities valued at $86,940,244; 2.50% - 11.00%; 10/01/2024 - 10/15/2048)(c)(i) 5.50% 09/03/2024  80,048,889   80,000,000
Standard Chartered Bank, joint agreement dated 08/30/2024, aggregate maturing value of $2,001,180,000 (collateralized by U.S. Treasury obligations valued at $2,041,203,675; 0.00% - 6.25%; 09/05/2024 - 08/15/2054) 5.31% 09/03/2024 655,794,443  655,407,752
Sumitomo Mitsui Banking Corp., joint agreement dated 08/30/2024, aggregate maturing value of $5,002,961,111 (collateralized by agency mortgage-backed securities valued at $5,138,746,291; 3.00% - 6.50%; 10/20/2042 - 06/20/2054) 5.33% 09/03/2024 862,353,810  861,843,407
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)
Table of Contents
Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Repurchase
Amount 		Value
TD Securities (USA) LLC, joint term agreement dated 08/28/2024, aggregate maturing value of $450,473,375 (collateralized by corporate obligations valued at $472,508,170; 2.00% - 7.34%; 01/16/2025 - 06/15/2051)(c)(h) 5.41% 09/04/2024 $110,115,714 $  110,000,000
Total Repurchase Agreements (Cost $2,652,251,159) 2,652,251,159
TOTAL INVESTMENTS IN SECURITIES(j)(k)-100.11% (Cost $7,740,899,620) 7,740,899,620
OTHER ASSETS LESS LIABILITIES-(0.11)% (8,472,441)
NET ASSETS-100.00% $7,732,427,179
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
Notes to Schedule of Investments:
(a) Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.
(b) 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, 2024 was $3,008,175,230, which represented 38.90% of the Fund's Net Assets.
(c) 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: 16.3%; France: 13.4%; Australia: 8.1%; Japan: 7.6%; Netherlands: 5.1%; other countries less than 5% each:19.7%.
(d) Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2024.
(e) 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, 2024.
(f) Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.
(g) Principal amount equals value at period end. See Note 1I.
(h) The Fund may demand payment of the term repurchase agreement upon one to seven business days' notice depending on the timing of the demand.
(i) 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.
(j) Also represents cost for federal income tax purposes.
(k) 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.
6 AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
Table of Contents
Schedule of Investments
August 31, 2024
Invesco Premier U.S. Government Money Portfolio
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
U.S. Treasury Securities-28.42%
U.S. Treasury Bills-22.77%(a)
U.S. Treasury Bills 5.26% 09/24/2024 $     150,000 $   149,497,833
U.S. Treasury Bills 5.28% 09/26/2024     250,000   249,091,146
U.S. Treasury Bills 5.27% 10/01/2024     877,000   873,263,089
U.S. Treasury Bills 5.23% 10/08/2024     150,000   149,199,875
U.S. Treasury Bills 5.22% 10/15/2024     250,000   248,418,750
U.S. Treasury Bills 5.17% 10/22/2024     150,000   148,910,938
U.S. Treasury Bills 5.21% 10/31/2024     350,000   346,998,749
U.S. Treasury Bills 5.20% 11/26/2024     350,000   345,723,292
U.S. Treasury Bills 5.04%-5.11% 11/29/2024     175,000   172,915,917
U.S. Treasury Bills 5.06% 12/17/2024     300,000   295,559,499
U.S. Treasury Bills 5.00% 12/24/2024      78,000    76,784,760
U.S. Treasury Bills 5.25% 01/02/2025     100,000    98,252,375
U.S. Treasury Bills 5.21% 01/09/2025     250,000   245,413,889
U.S. Treasury Bills 4.79%-5.12% 01/23/2025     358,000   351,030,480
U.S. Treasury Bills 5.06% 01/30/2025     350,000   342,762,486
U.S. Treasury Bills 4.91% 02/13/2025      50,000    48,901,146
U.S. Treasury Bills 4.89% 02/20/2025      10,000     9,772,100
U.S. Treasury Bills 5.03%-5.20% 04/17/2025     125,000   121,133,263
U.S. Treasury Bills 5.02% 07/10/2025     125,000   119,827,083
4,393,456,670
U.S. Treasury Floating Rate Notes-5.00%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.17%)(b) 5.21% 04/30/2025     125,000   124,998,978
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.13%)(b) 5.17% 07/31/2025     690,000   689,661,122
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.17%)(b) 5.21% 10/31/2025      50,000    50,000,000
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.25%)(b) 5.29% 01/31/2026     100,000   100,056,210
964,716,310
U.S. Treasury Notes-0.65%
U.S. Treasury Notes 1.50% 10/31/2024     125,000   124,302,393
Total U.S. Treasury Securities (Cost $5,482,475,373) 5,482,475,373
U.S. Government Sponsored Agency Securities-14.19%
Federal Farm Credit Bank (FFCB)-9.00%
Federal Farm Credit Bank (SOFR + 0.08%)(b) 5.41% 11/22/2024      20,000    20,000,000
Federal Farm Credit Bank (SOFR + 0.08%)(b) 5.41% 12/30/2024      47,000    47,000,000
Federal Farm Credit Bank (SOFR + 0.09%)(b) 5.42% 03/07/2025      30,000    30,000,000
Federal Farm Credit Bank (SOFR + 0.12%)(b) 5.45% 05/30/2025       5,000     5,000,000
Federal Farm Credit Bank (SOFR + 0.11%)(b) 5.44% 06/13/2025      25,000    25,000,000
Federal Farm Credit Bank (SOFR + 0.13%)(b) 5.46% 06/27/2025      47,000    47,000,000
Federal Farm Credit Bank (SOFR + 0.16%)(b) 5.49% 07/07/2025     125,000   125,078,720
Federal Farm Credit Bank (SOFR + 0.16%)(b) 5.49% 08/04/2025       5,000     5,002,846
Federal Farm Credit Bank (SOFR + 0.13%)(b) 5.46% 08/13/2025      18,000    18,000,000
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)
Table of Contents
Schedule of Investments-(continued)
August 31, 2024
Invesco Premier U.S. Government Money Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
Federal Farm Credit Bank (FFCB)-(continued)
Federal Farm Credit Bank (SOFR + 0.14%)(b) 5.47% 08/22/2025 $      50,000 $    50,000,000
Federal Farm Credit Bank (SOFR + 0.16%)(b) 5.49% 09/15/2025      30,000    30,024,168
Federal Farm Credit Bank (SOFR + 0.16%)(b) 5.49% 11/28/2025      30,000    30,000,000
Federal Farm Credit Bank (SOFR + 0.16%)(b) 5.49% 12/01/2025      15,000    15,000,000
Federal Farm Credit Bank (SOFR + 0.08%)(b) 5.41% 12/12/2025     100,000   100,000,000
Federal Farm Credit Bank (SOFR + 0.15%)(b) 5.48% 12/15/2025      20,000    20,000,000
Federal Farm Credit Bank (SOFR + 0.15%)(b) 5.48% 12/29/2025      45,000    45,000,000
Federal Farm Credit Bank (1 mo. EFFR + 0.06%)(b) 5.39% 01/16/2026      30,000    30,000,000
Federal Farm Credit Bank (SOFR + 0.16%)(b) 5.49% 01/23/2026      40,000    40,000,000
Federal Farm Credit Bank (SOFR + 0.15%)(b) 5.48% 01/29/2026      90,000    90,000,000
Federal Farm Credit Bank (SOFR + 0.14%)(b) 5.47% 01/30/2026      10,000    10,000,000
Federal Farm Credit Bank (SOFR + 0.09%)(b) 5.42% 02/02/2026      40,000    40,000,000
Federal Farm Credit Bank (SOFR + 0.09%)(b) 5.42% 02/12/2026      70,000    70,000,000
Federal Farm Credit Bank (SOFR + 0.08%)(b) 5.41% 03/04/2026      75,000    75,000,000
Federal Farm Credit Bank (SOFR + 0.12%)(b) 5.45% 03/12/2026      93,000    93,000,000
Federal Farm Credit Bank (SOFR + 0.11%)(b) 5.44% 03/18/2026     150,000   150,000,000
Federal Farm Credit Bank (SOFR + 0.11%)(b) 5.44% 03/26/2026      90,000    90,000,000
Federal Farm Credit Bank (1 mo. EFFR + 0.10%)(b) 5.43% 04/01/2026      50,000    50,000,000
Federal Farm Credit Bank (SOFR + 0.11%)(b) 5.44% 04/09/2026      30,000    30,000,000
Federal Farm Credit Bank (SOFR + 0.09%)(b) 5.42% 05/14/2026     125,000   125,000,000
Federal Farm Credit Bank (SOFR + 0.09%)(b) 5.42% 05/21/2026      80,000    80,000,000
Federal Farm Credit Bank (SOFR + 0.10%)(b) 5.43% 06/03/2026      52,000    52,000,000
Federal Farm Credit Bank (SOFR + 0.10%)(b) 5.43% 06/18/2026      10,000    10,000,000
Federal Farm Credit Bank (SOFR + 0.10%)(b) 5.43% 07/01/2026      70,000    70,000,000
Federal Farm Credit Bank (SOFR + 0.12%)(b) 5.45% 07/23/2026      10,000    10,000,000
Federal Farm Credit Bank (SOFR + 0.14%)(b) 5.47% 08/26/2026      10,000    10,000,000
1,737,105,734
Federal Home Loan Bank (FHLB)-4.91%
Federal Home Loan Bank(a) 5.27% 11/01/2024      81,000    80,311,005
Federal Home Loan Bank(a) 4.86% 01/10/2025      75,000    73,730,937
Federal Home Loan Bank 5.03% 01/10/2025     200,000   200,000,000
Federal Home Loan Bank(a) 5.00% 02/10/2025     100,000    97,858,000
Federal Home Loan Bank (SOFR + 0.14%)(b) 5.47% 08/22/2025      30,000    30,000,000
Federal Home Loan Bank (SOFR + 0.15%)(b) 5.48% 12/08/2025      50,000    50,000,000
Federal Home Loan Bank (SOFR + 0.15%)(b) 5.48% 12/11/2025      15,000    15,000,000
Federal Home Loan Bank (SOFR + 0.19%)(b) 5.52% 01/14/2026     100,000   100,000,000
Federal Home Loan Bank (SOFR + 0.14%)(b) 5.47% 03/12/2026     200,000   200,000,000
Federal Home Loan Bank (SOFR + 0.10%)(b) 5.43% 05/13/2026     100,000   100,000,000
946,899,942
U.S. International Development Finance Corp. (DFC)-0.28%(c)
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.40% 06/15/2025       2,400     2,400,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.40% 09/15/2025        789      789,474
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)
Table of Contents
Schedule of Investments-(continued)
August 31, 2024
Invesco Premier U.S. Government Money Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
U.S. International Development Finance Corp. (DFC)(c)-(continued)
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.48% 11/15/2025 $       2,105 $     2,105,263
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.40% 09/15/2026       2,250     2,250,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.47% 09/15/2026       1,875     1,875,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.40% 12/15/2026       1,500     1,500,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.49% 06/20/2027       3,000     2,999,991
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.49% 06/20/2027       2,000     1,999,994
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.40% 02/15/2028       3,889     3,888,889
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.40% 06/20/2028       7,385     7,384,615
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate + 0.07%) 5.40% 08/15/2029       8,333     8,333,333
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.49% 03/15/2030      13,964    13,964,286
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.40% 10/15/2030       3,472     3,472,222
52,963,067
Total U.S. Government Sponsored Agency Securities (Cost $2,736,968,743) 2,736,968,743
U.S. Government Sponsored Agency Mortgage-Backed Securities-1.40%
Federal Home Loan Mortgage Corp. (FHLMC)-0.76%
Federal Home Loan Mortgage Corp. (SOFR + 0.10%)(b) 5.43% 02/09/2026     147,000   147,000,000
Federal National Mortgage Association (FNMA)-0.64%
Federal National Mortgage Association (SOFR + 0.10%)(b) 5.43% 06/18/2026      38,500    38,500,000
Federal National Mortgage Association (SOFR + 0.14%)(b) 5.47% 08/21/2026      85,000    85,000,000
123,500,000
Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $270,500,000) 270,500,000
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-44.01%
(Cost $8,489,944,116) 		8,489,944,116
Repurchase
Amount
Repurchase Agreements-57.18%(d)
Banco Santander, joint agreement dated 08/30/2024, aggregate maturing value of $500,296,111 (collateralized by agency mortgage-backed securities valued at $510,302,034; 0.00% - 7.00%; 10/15/2026 - 06/15/2059) 5.33% 09/03/2024   40,023,689    40,000,000
Bank of Nova Scotia, joint agreement dated 08/30/2024, aggregate maturing value of $1,500,888,333 (collateralized by agency mortgage-backed securities valued at $1,530,000,000; 2.00% - 7.00%; 09/01/2027 - 08/01/2054) 5.33% 09/03/2024  500,296,111   500,000,000
BMO Capital Markets Corp., joint term agreement dated 08/05/2024, aggregate maturing value of $503,337,500 (collateralized by agency mortgage-backed securities valued at $510,000,004; 1.00% - 6.50%; 04/25/2028 - 08/20/2064)(e) 5.34% 09/19/2024  241,602,000   240,000,000
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)
Table of Contents
Schedule of Investments-(continued)
August 31, 2024
Invesco Premier U.S. Government Money Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Repurchase
Amount 		Value
BNP Paribas Securities Corp., joint term agreement dated 01/26/2024, aggregate maturing value of $2,075,985,000 (collateralized by agency mortgage-backed securities, a U.S. government sponsored agency obligation and U.S. Treasury obligations valued at $2,040,000,000; 0.00% - 7.74%; 05/25/2025 - 07/20/2064)(e) 5.01% 10/28/2024 $  622,795,500 $   600,000,000
BNP Paribas Securities Corp., joint term agreement dated 01/30/2024, aggregate maturing value of $4,002,422,223 (collateralized by U.S. Treasury obligations valued at $4,080,000,192; 0.00% - 7.63%; 09/15/2024 - 02/15/2054)(e)(f) 5.45% 09/03/2024  600,363,333   600,000,000
BNP Paribas Securities Corp., joint term agreement dated 02/08/2024, aggregate maturing value of $1,401,480,890 (collateralized by U.S. Treasury obligations valued at $1,428,000,113; 0.00% - 5.23%; 09/10/2024 - 08/15/2054)(e)(f) 5.44% 09/06/2024  200,211,556   200,000,000
BofA Securities, Inc., joint term agreement dated 07/02/2024, aggregate maturing value of $1,000,596,666 (collateralized by U.S. Treasury obligations valued at $1,006,299,403; 0.00% - 5.38%; 08/31/2024 - 08/15/2054)(e)(f) 5.37% 09/03/2024  300,179,000   300,000,000
BofA Securities, Inc., joint term agreement dated 07/08/2024, aggregate maturing value of $750,447,500 (collateralized by U.S. Treasury obligations valued at $765,000,082; 0.38% - 4.63%; 06/15/2027 - 05/15/2049)(e)(f) 5.37% 09/03/2024  250,149,167   250,000,000
BofA Securities, Inc., joint term agreement dated 07/10/2024, aggregate maturing value of $1,500,898,333 (collateralized by agency mortgage-backed securities valued at $1,530,000,007; 1.25% - 6.60%; 03/25/2027 - 07/20/2074)(e)(f) 5.39% 09/03/2024  250,149,722   250,000,000
BofA Securities, Inc., joint term agreement dated 08/12/2024, aggregate maturing value of $1,000,596,666 (collateralized by U.S. Treasury obligations valued at $1,020,000,097; 0.00% - 4.63%; 11/29/2024 - 02/15/2053)(e)(f) 5.37% 09/03/2024  200,119,333   200,000,000
CIBC World Markets Corp., joint term agreement dated 07/22/2024, aggregate maturing value of $453,878,750 (collateralized by agency mortgage-backed securities, U.S. government sponsored agency obligations and U.S. Treasury obligations valued at $459,000,089; 0.13% - 7.00%; 01/31/2025 - 09/01/2061)(e) 5.35% 09/18/2024   75,646,458    75,000,000
CIBC World Markets Corp., joint term agreement dated 08/01/2024, aggregate maturing value of $830,996,375 (collateralized by U.S. Treasury obligations valued at $841,500,000; 0.13% - 5.00%; 05/31/2025 - 02/15/2053)(e) 5.34% 09/19/2024  125,908,542   125,000,000
CIBC World Markets Corp., joint term agreement dated 08/13/2024, aggregate maturing value of $954,800,139 (collateralized by agency mortgage-backed securities, U.S. government sponsored agency obligations and U.S. Treasury obligations valued at $969,000,970; 0.13% - 7.38%; 01/31/2025 - 06/01/2063)(e) 5.35% 09/16/2024  261,313,722   260,000,000
Citigroup Global Markets, Inc., joint agreement dated 08/30/2024, aggregate maturing value of $500,296,111 (collateralized by U.S. Treasury obligations valued at $510,000,024; 0.13% - 4.50%; 01/15/2026 - 02/15/2054) 5.33% 09/03/2024  100,059,222   100,000,000
Citigroup Global Markets, Inc., joint term agreement dated 08/28/2024, aggregate maturing value of $1,201,248,333 (collateralized by agency mortgage-backed securities and U.S. Treasury obligations valued at $1,224,000,067; 2.00% - 7.50%; 11/15/2032 - 09/20/2053)(e) 5.35% 09/04/2024  345,358,896   345,000,000
Citigroup Global Markets, Inc., joint term agreement dated 08/28/2024, aggregate maturing value of $8,008,291,111 (collateralized by U.S. Treasury obligations valued at $8,160,000,006; 0.13% - 4.75%; 11/15/2040 - 02/15/2053)(e) 5.33% 09/04/2024 1,251,295,486  1,250,000,000
Credit Agricole Corporate & Investment Bank, joint term agreement dated 08/01/2024, aggregate maturing value of $1,005,043,333 (collateralized by U.S. Treasury obligations valued at $1,020,000,061; 2.88% - 4.63%; 05/15/2052 - 05/15/2054)(e) 5.34% 09/04/2024  155,781,717   155,000,000
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)
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Schedule of Investments-(continued)
August 31, 2024
Invesco Premier U.S. Government Money Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Repurchase
Amount 		Value
Fixed Income Clearing Corp. - Bank of New York Mellon (The), joint agreement dated 08/30/2024, aggregate maturing value of $1,500,885,000 (collateralized by U.S. Treasury obligations valued at $1,530,000,123; 0.38% - 4.38%; 01/31/2026 - 08/15/2047) 5.31% 09/03/2024 $  150,088,500 $   150,000,000
ING Financial Markets, LLC, joint term agreement dated 08/01/2024, aggregate maturing value of $251,830,694 (collateralized by agency mortgage-backed securities valued at $255,000,001; 2.00% - 6.50%; 07/01/2051 - 02/20/2054) 5.38% 09/19/2024  100,732,278   100,000,000
J.P. Morgan Securities LLC, joint agreement dated 08/30/2024, aggregate maturing value of $1,000,592,222 (collateralized by agency mortgage-backed securities valued at $1,020,000,001; 1.61% - 8.19%; 09/01/2028 - 07/01/2056) 5.33% 09/03/2024  465,275,383   465,000,000
J.P. Morgan Securities LLC, joint open agreement dated 05/02/2023 (collateralized by agency mortgage-backed securities valued at $918,000,006; 1.10% - 9.10%; 06/20/2036 - 06/16/2063)(g) 5.32% 09/03/2024   65,317,128    65,000,000
Metropolitan Life Insurance Co., joint term agreement dated 08/27/2024, aggregate maturing value of $350,371,764 (collateralized by U.S. Treasury obligations valued at $361,183,795; 0.00%; 02/15/2043 - 08/15/2046)(e) 5.38% 09/03/2024   40,042,245    40,000,400
Mitsubishi UFJ Trust & Banking Corp., joint term agreement dated 08/28/2024, aggregate maturing value of $3,032,657,412 (collateralized by U.S. Treasury obligations valued at $3,095,460,772; 0.50% - 2.00%; 05/31/2027 - 11/15/2041)(e) 5.36% 09/04/2024  211,595,300   211,375,000
Mizuho Securities (USA) LLC, joint agreement dated 08/30/2024, aggregate maturing value of $750,444,167 (collateralized by agency mortgage-backed securities, U.S. government sponsored agency obligations valued at $765,000,000; 2.00% - 7.50%; 02/23/2026 - 09/01/2054) 5.33% 09/03/2024  385,228,006   385,000,000
RBC Dominion Securities Inc., joint term agreement dated 08/13/2024, aggregate maturing value of $2,863,761,658 (collateralized by agency mortgage-backed securities and U.S. Treasury obligations valued at $2,859,364,879; 0.00% - 7.00%; 09/26/2024 - 08/15/2054)(e) 5.09% 02/03/2025  819,681,333   800,000,000
Royal Bank of Canada, joint term agreement dated 03/21/2024, aggregate maturing value of $1,575,429,947 (collateralized by agency mortgage-backed securities and U.S. Treasury obligations valued at $1,536,786,557; 0.13% - 7.00%; 03/15/2027 - 08/01/2054)(e) 5.06% 02/12/2025  298,139,133   285,000,000
Royal Bank of Canada, joint term agreement dated 06/13/2024, aggregate maturing value of $3,692,889,960 (collateralized by agency mortgage-backed securities and U.S. Treasury obligations valued at $3,586,512,226; 0.13% - 7.50%; 02/28/2025 - 07/01/2054)(e) 5.16% 05/30/2025  708,959,250   675,000,000
Standard Chartered Bank, joint agreement dated 08/30/2024, aggregate maturing value of $2,001,180,000 (collateralized by U.S. Treasury obligations valued at $2,041,203,675; 0.00% - 6.25%; 09/05/2024 - 08/15/2054) 5.31% 09/03/2024  405,899,044   405,659,705
Sumitomo Mitsui Banking Corp., joint agreement dated 08/30/2024, aggregate maturing value of $5,002,961,111 (collateralized by agency mortgage-backed securities valued at $5,138,746,291; 3.00% - 6.50%; 10/20/2042 - 06/20/2054) 5.33% 09/03/2024 1,000,592,222  1,000,000,000
TD Securities (USA) LLC, joint term agreement dated 08/28/2024, aggregate maturing value of $500,521,111 (collateralized by agency mortgage-backed securities valued at $510,000,000; 3.00% - 6.50%; 08/01/2050 - 05/01/2054)(e) 5.36% 09/04/2024  375,390,833   375,000,000
Wells Fargo Securities, LLC, joint term agreement dated 06/05/2024, aggregate maturing value of $623,931,679 (collateralized by agency mortgage-backed securities valued at $627,300,002; 1.50% - 8.50%; 01/01/2025 - 02/01/2056) 5.39% 09/10/2024  187,686,765   185,000,000
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
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Schedule of Investments-(continued)
August 31, 2024
Invesco Premier U.S. Government Money Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Repurchase
Amount 		Value
Wells Fargo Securities, LLC, joint term agreement dated 07/30/2024, aggregate maturing value of $2,214,005,875 (collateralized by agency mortgage-backed securities and U.S. government sponsored agency obligations valued at $2,228,700,001; 0.00% - 7.50%; 09/09/2024 - 01/01/2059) 5.31% 10/28/2024 $  405,310,000 $   400,000,000
Total Repurchase Agreements (Cost $11,032,035,105) 11,032,035,105
TOTAL INVESTMENTS IN SECURITIES(h)-101.19% (Cost $19,521,979,221) 19,521,979,221
OTHER ASSETS LESS LIABILITIES-(1.19)% (229,109,485)
NET ASSETS-100.00% $19,292,869,736
Investment Abbreviations:
EFFR -Effective Federal Funds Rate
SOFR -Secured Overnight Financing Rate
VRD -Variable Rate Demand
Notes to Schedule of Investments:
(a) Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.
(b) Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2024.
(c) 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, 2024.
(d) Principal amount equals value at period end. See Note 1I.
(e) The Fund may demand payment of the term repurchase agreement upon one to seven business days' notice depending on the timing of the demand.
(f) 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.
(g) 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.
(h) Also represents cost for federal income tax purposes.
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
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Statement of Assets and Liabilities
August 31, 2024
Invesco Premier
Portfolio 		Invesco Premier
U.S. Government
Money Portfolio
Assets:
Investments in unaffiliated securities, at value $5,088,648,461 $8,489,944,116
Repurchase agreements, at value and cost 2,652,251,159 11,032,035,105
Cash 12,222 296,748
Receivable for:
Fund shares sold 12,798,161 1,086,992
Interest 20,815,172 104,822,807
Investment for trustee deferred compensation and retirement plans 684,604 159,739
Total assets 7,775,209,779 19,628,345,507
Liabilities:
Payable for:
Investments purchased - 248,994,723
Fund shares reacquired 7,111,595 801,346
Dividends 33,815,706 82,581,195
Accrued fees to affiliates 1,167,726 2,930,376
Accrued operating expenses 2,969 8,392
Trustee deferred compensation and retirement plans 684,604 159,739
Total liabilities 42,782,600 335,475,771
Net assets applicable to shares outstanding $7,732,427,179 $19,292,869,736
Net assets consist of:
Shares of beneficial interest $7,732,302,064 $19,292,375,629
Distributable earnings (loss) 125,115 494,107
$7,732,427,179 $19,292,869,736
Net Assets:
Institutional Class $7,565,591,241 $18,887,977,561
Investor Class $152,476,697 $404,892,175
Personal Investment Class $13,631,836 $-
Private Investment Class $26,439 $-
Reserve Class $11,135 $-
Resource Class $689,831 $-
Shares outstanding, no par value,
unlimited number of shares authorized:
Institutional Class 7,565,156,713 18,886,552,709
Investor Class 152,459,345 404,862,497
Personal Investment Class 13,631,219 -
Private Investment Class 26,436 -
Reserve Class 11,134 -
Resource Class 689,753 -
Net asset value, offering and redemption price per share for each class $1.00 $1.00
Cost of Investments $7,740,899,620 $19,521,979,221
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
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Statements of Operations
For the year ended August 31, 2024
Invesco Premier
Portfolio 		Invesco Premier
U.S. Government
Money Portfolio
Investment income:
Interest $357,952,683 $1,056,509,111
Expenses:
Advisory fees 16,066,050 48,809,749
Distribution fees:
Personal Investment Class 53,321 -
Private Investment Class 77 -
Reserve Class 95 -
Resource Class 1,078 -
Professional services fees 5,431 22,357
Total expenses 16,126,052 48,832,106
Less: Fees waived (4,498,492) (13,666,724)
Net expenses 11,627,560 35,165,382
Net investment income 346,325,123 1,021,343,729
Net realized gain from unaffiliated investment securities 20,533 910,087
Net increase in net assets resulting from operations $346,345,656 $1,022,253,816
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
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Statements of Changes in Net Assets
For the years ended August 31, 2024 and 2023
Invesco Premier Portfolio Invesco Premier U.S. Government
Money Portfolio
2024 2023 2024 2023
Operations:
Net investment income $346,325,123 $155,276,607 $1,021,343,729 $750,648,316
Net realized gain (loss) 20,533 (985) 910,087 693,010
Net increase in net assets resulting from operations 346,345,656 155,275,622 1,022,253,816 751,341,326
Distributions to shareholders from distributable earnings:
Institutional Class (337,282,614) (150,314,419) (1,000,896,255) (742,267,166)
Investor Class (8,535,442) (4,607,779) (20,447,474) (8,381,150)
Personal Investment Class (469,960) (297,098) - -
Private Investment Class (1,317) (1,014) - -
Reserve Class (494) (371) - -
Resource Class (35,296) (55,926) - -
Total distributions from distributable earnings (346,325,123) (155,276,607) (1,021,343,729) (750,648,316)
Share transactions-net:
Institutional Class 2,790,848,017 3,032,288,022 (71,141,053) 9,023,822,566
Investor Class (5,997,098) 115,463,526 63,142,364 290,330,903
Personal Investment Class 6,526,699 (553,384) - -
Private Investment Class 1,313 945 - -
Reserve Class 494 343 - -
Resource Class 35,168 (2,191,285) - -
Net increase (decrease) in net assets resulting from share transactions 2,791,414,593 3,145,008,167 (7,998,689) 9,314,153,469
Net increase (decrease) in net assets 2,791,435,126 3,145,007,182 (7,088,602) 9,314,846,479
Net assets:
Beginning of year 4,940,992,053 1,795,984,871 19,299,958,338 9,985,111,859
End of year $7,732,427,179 $4,940,992,053 $19,292,869,736 $19,299,958,338
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
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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
value,
beginning
of period 		Net
investment
income(a) 		Net gains
(losses)
on securities
(realized) 		Total from
investment
operations 		Dividends
from net
investment
income 		Net asset
value, end
of period 		Total
return(b) 		Net assets,
end of period
(000's omitted) 		Ratio of
expenses
to average
net assets
with fee waivers
and/or expense
reimbursements 		Ratio of
expenses
to average net
assets without
fee waivers
and/or expense
reimbursements 		Ratio of net
investment
income
to average
net assets
Invesco Premier Portfolio
Year ended 08/31/24 $1.00 $0.05 $0.00 $0.05 $(0.05) $1.00 5.54% $152,477 0.18% 0.25% 5.39%
Year ended 08/31/23 1.00 0.04 (0.00) 0.04 (0.04) 1.00 4.49 158,473 0.18 0.25 4.62
Year ended 08/31/22 1.00 0.01 0.00 0.01 (0.01) 1.00 0.51 43,003 0.18 0.25 0.61
Year ended 08/31/21 1.00 0.00 0.00 0.00 (0.00) 1.00 0.07 45,025 0.18 0.25 0.07
Year ended 08/31/20 1.00 0.01 0.00 0.01 (0.01) 1.00 1.20 93,923 0.18 0.25 1.22
Invesco Premier U.S. Government Money Portfolio
Year ended 08/31/24 1.00 0.05 0.00 0.05 (0.05) 1.00 5.36 404,892 0.18 0.25 5.23
Year ended 08/31/23 1.00 0.04 0.00 0.04 (0.04) 1.00 4.38 341,727 0.18 0.25 4.42
Year ended 08/31/22 1.00 0.00 (0.00) 0.00 (0.00) 1.00 0.45 51,389 0.14 0.25 0.59
Year ended 08/31/21 1.00 0.00 0.00 0.00 (0.00) 1.00 0.01 39,160 0.12 0.25 0.01
Year ended 08/31/20 1.00 0.01 0.00 0.01 (0.01) 1.00 0.93 48,190 0.18 0.25 0.83
(a) Calculated using average shares outstanding.
(b) 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.
16 AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
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Notes to Financial Statements
August 31, 2024
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 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
17 AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
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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. 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.
J. 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 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 Deutschland GmbH, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Inc., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and separate sub-advisory agreements with Invesco Capital Management LLC and Invesco Asset Management (India) Private Limited (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, 2024, 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.
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For the year ended August 31, 2024, the Adviser waived advisory fees and/or reimbursed Fund expenses in the following amounts:
Invesco Premier Portfolio $4,498,492
Invesco Premier U.S. Government Money Portfolio 13,666,724
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 Mellon") 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 Mellon 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, 2024, 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. When significant events due to market movements occur, foreign securities may be fair valued utilizing an independent pricing service.
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, 2024, 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-Security Transactions with Affiliated Funds
Each Fund is permitted to purchase securities from or sell securities to certain other affiliated funds under specified conditions outlined in procedures adopted by the Board of Trustees of the Trust. The procedures have been designed to ensure that any purchase or sale of securities by each Fund from or to another fund that is or could be considered an "affiliated person" by virtue of having a common investment adviser (or affiliated investment advisers), common Trustees and/or common officers is made in reliance on Rule 17a-7 of the 1940 Act and, to the extent applicable, related SEC staff positions. Each such transaction is effected at the security's "current market price", as provided for in these procedures and Rule 17a-7. Pursuant to these procedures, for the year ended August 31, 2024, the following Fund engaged in transactions with affiliates as listed below:
Securities Purchases Securities Sales Net Realized Gains
Invesco Premier Portfolio $106,706,671 $6,911,178 $-
NOTE 5-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.
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NOTE 6-Cash Balances
The Funds are permitted to temporarily overdraft or leave balances in their accounts with BNY Mellon, 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 Mellon or the Funds for such activity, the Funds may either (1) pay to or receive from BNY Mellon compensation at a rate agreed upon by BNY Mellon 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 Mellon or the Funds can be compensated for use of funds.
NOTE 7-Distributions to Shareholders and Tax Components of Net Assets
Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2024 and 2023:
2024 2023
Ordinary
Income* 		Ordinary
Income*
Invesco Premier Portfolio $346,325,123 $155,276,607
Invesco Premier U.S. Government Money Portfolio 1,021,343,729 750,648,316
* Includes short-term capital gain distributions, if any.
Tax Components of Net Assets at Period-End:
Undistributed
Ordinary
Income 		Undistributed
Long-Term
Capital Gains 		Shares of
Beneficial
Interest 		Total
Net Assets
Invesco Premier Portfolio $125,115 $- $7,732,302,064 $7,732,427,179
Invesco Premier U.S. Government Money Portfolio 268,904 225,203 19,292,375,629 19,292,869,736
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, 2024.
NOTE 8-Reclassification of Permanent Differences
Primarily as a result of differing book/tax treatment of distributions, on August 31, 2024, 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.
Undistributed Net
Investment Income 		Undistributed Net
Realized Gain (Loss) 		Shares of
Beneficial Interest
Invesco Premier Portfolio $19,548 $(19,547) $(1)
Invesco Premier U.S. Government Money Portfolio 136,535 (459,535) 323,000
NOTE 9-Share Information
Invesco Premier Portfolio
Summary of Share Activity
Years ended August 31,
2024(a) 2023
Shares Amount Shares Amount
Sold:
Institutional Class 9,739,077,117 $9,739,077,117 6,728,848,110 $6,728,848,110
Investor Class 336,725,771 336,725,771 256,914,518 256,914,518
Personal Investment Class 24,100,174 24,100,174 24,193,923 24,193,923
Issued as reinvestment of dividends:
Institutional Class 299,321,339 299,321,339 124,770,193 124,770,193
Investor Class 8,507,286 8,507,286 3,726,275 3,726,275
Personal Investment Class 442,533 442,533 280,128 280,128
Private Investment Class 1,313 1,313 945 945
Reserve Class 494 494 343 343
Resource Class 35,168 35,168 55,926 55,926
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NOTE 9-Share Information-(continued)
Summary of Share Activity
Years ended August 31,
2024(a) 2023
Shares Amount Shares Amount
Reacquired:
Institutional Class (7,247,550,439) $(7,247,550,439) (3,821,330,281) $(3,821,330,281)
Investor Class (351,230,155) (351,230,155) (145,177,267) (145,177,267)
Personal Investment Class (18,016,008) (18,016,008) (25,027,435) (25,027,435)
Resource Class - - (2,247,211) (2,247,211)
Net increase in share activity 2,791,414,593 $2,791,414,593 3,145,008,167 $3,145,008,167
(a) There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 56% 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
Years ended August 31,
2024(a) 2023
Shares Amount Shares Amount
Sold:
Institutional Class 51,409,565,237 $51,409,565,237 75,897,949,910 $75,897,949,910
Investor Class 450,315,377 450,315,377 606,735,166 606,735,166
Issued as reinvestment of dividends:
Institutional Class 549,306,804 549,306,804 318,111,677 318,111,677
Investor Class 20,382,490 20,382,490 6,835,954 6,835,954
Reacquired:
Institutional Class (52,030,013,094) (52,030,013,094) (67,192,239,021) (67,192,239,021)
Investor Class (407,555,503) (407,555,503) (323,240,217) (323,240,217)
Net increase (decrease) in share activity (7,998,689) $(7,998,689) 9,314,153,469 $9,314,153,469
(a) There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 68% 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.
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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, 2024, the related statements of operations for the year ended August 31, 2024, the statements of changes in net assets for each of the two years in the period ended August 31, 2024, including the related notes, and the financial highlights of the Investor Class for each of the five years in the period ended August 31, 2024 (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, 2024, 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, 2024 and each of the financial highlights of the Investor Class for each of the five years in the period ended August 31, 2024 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, 2024 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 23, 2024
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.
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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 12, 2024, 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 separate sub-advisory contracts with Invesco Capital Management LLC and Invesco Asset Management (India) Private Limited (collectively, the Affiliated Sub-Advisers and the sub-advisory contracts) for another year, effective July 1, 2024. 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.
The Board's Evaluation Process
The Board has established an Investments Committee, which in turn has established Sub-Committees, that meet throughout the year to review the performance of funds advised by Invesco Advisers (the Invesco Funds). The Sub-Committees meet regularly with portfolio managers for their assigned Invesco Funds and other members of management to review information about investment performance and portfolio attributes of these funds. The Board has established additional standing and ad hoc committees that meet regularly throughout the year to review matters within their purview, including a working group focused on opportunities to make ongoing and continuous improvements to the annual review process for the Invesco Funds' investment advisory 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, in considering whether to approve each Invesco Fund's investment advisory agreement and sub-advisory contracts.
As part of the contract renewal 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 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 mutual fund data provider, as well as information on the composition of the peer groups provided by Broadridge 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 contract renewal 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 7, 2024 and June 12, 2024, 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. Also, as part of the contract renewal process, the independent Trustees reviewed and considered information provided in response to follow-up requests for information submitted by the independent Trustees to management. The independent Trustees met and discussed those follow-up responses with legal counsel to the independent Trustees and the Senior Officer.
The discussion below is a summary of 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 in prior years 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. The information received and considered by the
Board was current as of various dates prior to the Board's approval on June 12, 2024.
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 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 observed that Invesco Advisers' systems preparedness and ongoing investment enabled Invesco Advisers 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 are appropriate and satisfactory.
INVESCO PREMIER PORTFOLIO
The Board reviewed the services that may be provided to the Fund by the Affiliated
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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 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 are appropriate and satisfactory.
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 are appropriate and satisfactory.
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, 2023 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 and the fifth quintile being the worst performing funds). The Board noted that performance of Investor Class shares of the Fund was reasonably comparable to 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, 2023 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 and the fifth quintile being the worst performing funds). The Board noted that performance of Investor Class shares of the Fund was reasonably comparable to 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 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 below 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 effective advisory fee rate (defined for this purpose as the advisory fee rate before the application of advisory fee waivers/expense limitations) to the effective advisory fee rates of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2023.
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 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 the same as the median contractual management and actual management fee rates of funds in its expense
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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 effective advisory fee rate (defined for this purpose as the advisory fee rate before the application of advisory fee waivers/expense limitations) to the effective advisory fee rates of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2023.
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
difficulty 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' 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.
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 determination that the services are required for the operation of each Fund.
25 AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
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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, 2024:
Federal and State Income Tax
Business Interest
Income* 		Qualified Business
Income* 		Qualified Dividend
Income* 		Corporate
Dividends
Received
Deduction* 		U.S Treasury
Obligations* 		Long Term
Capital Gain Distributions
Invesco Premier Portfolio 99.99% 0.00% 0.00% 0.00% 0.00% $0.00
Invesco Premier U.S. Government Money Portfolio 99.99% 0.00% 0.00% 0.00% 22.80% 323,000.00
* The above percentages are based on ordinary income dividends paid to shareholders during each Fund's fiscal year.
Non-Resident Alien Shareholders
Qualified
Short-Term Gains 		Qualified
Interest Income**
Invesco Premier Portfolio $19,548 0.00%
Invesco Premier U.S. Government Money Portfolio 136,535 100.00%
** The above percentages are based on income dividends paid to shareholders during each Fund's fiscal year.
26 AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
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Other Information Required in Form N-CSR (Items 8-11)
Changes in and Disagreements with Accountants for Open-End Management Investment Companies
Not applicable.
Proxy Disclosures for Open-End Management Investment Companies
Not applicable.
Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies
The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.
Statement Regarding Basis for Approval of Investment Advisory Contracts
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.
27 AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
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SEC file numbers: 811-05460 and 033-19862 Invesco Distributors, Inc. CM-I-TST-NCSR-INV


Annual Financial Statements and Other Information August 31, 2024
Institutional Class
AIM Treasurer's Series Trust
(Invesco Treasurer's Series Trust)
Invesco Premier Portfolio
Invesco Premier U.S. Government Money Portfolio
2 Schedules of Investments
13 Financial Statements
16 Financial Highlights
17 Notes to Financial Statements
22 Report of Independent Registered Public Accounting Firm
23 Approval of Investment Advisory and Sub-Advisory Contracts
26 Tax Information
27 Other Information Required in Form N-CSR (Items 8-11)
Table of Contents
Schedule of Investments
August 31, 2024
Invesco Premier Portfolio
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
Commercial Paper-44.22%(a)
Asset-Backed Securities - Consumer Receivables-0.44%
Old Line Funding LLC (CEP - Royal Bank of Canada)(b)(c) 5.00% 02/03/2025 $     10,000 $    9,789,889
Thunder Bay Funding LLC (CEP - Royal Bank of Canada)(b)(c) 5.76% 11/22/2024     25,000   24,689,653
34,479,542
Asset-Backed Securities - Fully Supported-8.25%
Anglesea Funding PLC (Multi - CEP's), (1 mo. OBFR + 0.14%)(b)(c)(d) 5.59% 11/21/2024     40,000   40,000,000
Anglesea Funding PLC (Multi - CEP's), (1 mo. OBFR + 0.14%)(b)(c)(d) 5.55% 12/03/2024     80,000   80,000,000
Aquitaine Funding Co. LLC (CEP - Societe Generale S.A.)(b)(c) 5.42% 11/01/2024     50,000   49,547,584
Bennington Stark Capital Co. LLC (CEP - Societe Generale S.A.), (SOFR + 0.20%)(b)(c)(d) 5.54% 10/28/2024     90,000   90,000,000
Great Bear Funding LLC (CEP - Bank of Nova Scotia), (1 mo. OBFR + 0.23%)(c)(d) 5.66% 01/15/2025     50,000   50,000,000
Great Bear Funding LLC (CEP - Bank of Nova Scotia), (1 mo. OBFR + 0.23%)(c)(d) 5.66% 01/15/2025     60,000   60,000,000
Great Bear Funding LLC (CEP - Bank of Nova Scotia), (1 mo. OBFR + 0.30%)(c)(d) 5.69% 03/28/2025     50,000   50,000,000
Longship Funding LLC (CEP - Nordea Bank AB)(b)(c) 5.34% 09/05/2024    100,000   99,940,778
Mountcliff Funding LLC (Multi - CEP's)(b)(c) 5.40% 10/23/2024     20,000   19,846,022
Mountcliff Funding LLC (Multi - CEP's)(b)(c) 5.38% 10/31/2024     50,000   49,557,500
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)(b)(c) 5.52% 11/14/2024     50,000   49,448,083
638,339,967
Asset-Backed Securities - Fully Supported Bank-3.72%
Cabot Trail Funding LLC (CEP - Toronto-Dominion Bank)(b)(c) 5.39% 12/20/2024     50,000   49,193,333
Collateralized Commercial Paper V Co. LLC (CEP - JPMorgan Securities LLC), (SOFR + 0.32%)(d) 5.72% 04/11/2025     50,000   50,000,000
Collateralized Commercial Paper V Co. LLC (CEP - JPMorgan Securities LLC), (SOFR + 0.32%)(d) 5.72% 04/17/2025     50,000   50,000,000
Collateralized Commercial Paper V Co. LLC (CEP - JPMorgan Securities LLC), (SOFR + 0.30%)(d) 5.69% 05/23/2025     15,000   15,000,000
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.48% 10/03/2024     41,225   41,027,853
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.41% 10/17/2024      5,336    5,299,523
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.42% 10/23/2024     14,700   14,586,402
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.40% 10/25/2024     37,585   37,284,508
Mont Blanc Capital Corp. (CEP - ING Bank N.V.)(b)(c) 5.48% 09/17/2024     18,170   18,126,553
Sheffield Receivables Co. LLC (CEP - Barclays Bank PLC)(b) 5.40% 10/23/2024      7,000    6,946,108
287,464,280
Consumer Finance-0.64%
Toyota Finance Australia Ltd. (Australia)(c) 5.56% 10/15/2024     50,000   49,666,944
Diversified Banks-26.86%
Australia & New Zealand Banking Group Ltd. (Australia)(b)(c) 5.36% 09/18/2024     25,000   24,939,201
Australia & New Zealand Banking Group Ltd. (SOFR + 0.20%) (Australia)(b)(c)(d) 5.65% 10/30/2024     25,000   25,000,000
Australia & New Zealand Banking Group Ltd. (SOFR + 0.34%) (Australia)(b)(c)(d) 5.80% 01/08/2025     50,000   50,000,000
Australia & New Zealand Banking Group Ltd. (Australia)(b)(c) 5.41% 06/26/2025     50,000   47,876,750
Bank of Montreal (Canada)(c) 5.50% 06/11/2025     25,000   23,976,090
Bank of Montreal (SOFR + 0.35%) (Canada)(c)(d) 5.76% 06/25/2025     75,000   75,000,000
Barclays Bank PLC (SOFR + 0.25%)(b)(c)(d) 5.58% 10/11/2024     50,000   50,000,000
Barclays Bank PLC(b)(c) 5.40% 10/23/2024      4,500    4,465,355
Barclays Bank PLC (SOFR + 0.25%)(b)(c)(d) 5.71% 11/19/2024     50,000   50,000,000
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)
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Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
Diversified Banks-(continued)
Barclays Bank PLC(b)(c) 5.08% 01/02/2025 $     30,000 $   29,489,550
Barclays Bank PLC (SOFR + 0.21%)(b)(c)(d) 5.65% 01/15/2025     50,000   50,000,000
Barclays Bank PLC(b)(c) 5.08% 02/04/2025     45,000   44,034,750
Canadian Imperial Bank of Commerce (Canada)(b)(c) 5.34% 09/03/2024    100,000   99,970,389
Citigroup Global Markets, Inc.(b) 5.55%-5.56% 01/23/2025    100,000   97,868,000
Citigroup Global Markets, Inc.(b) 5.63% 04/30/2025     50,000   48,215,931
Commonwealth Bank of Australia (SOFR + 0.55%) (Australia)(b)(c)(d) 5.98% 10/10/2024     45,000   45,000,000
Commonwealth Bank of Australia (Australia)(b)(c) 5.95% 10/16/2024     50,000   49,648,750
Commonwealth Bank of Australia (SOFR + 0.35%) (Australia)(b)(c)(d) 5.72% 01/03/2025    100,000  100,000,000
Dexia S.A.(b)(c) 5.34% 10/01/2024     85,000   84,624,583
DNB Bank ASA (Norway)(b)(c) 5.94% 09/18/2024     45,000   44,881,000
DNB Bank ASA (Norway)(b)(c) 5.25% 09/24/2024     26,700   26,613,855
DNB Bank ASA (Norway)(b)(c) 5.97% 10/01/2024     50,000   49,765,417
DNB Bank ASA (Norway)(b)(c) 5.46% 11/22/2024     73,500   72,610,180
ING (US) Funding LLC (SOFR + 0.30%)(b)(c)(d) 5.68% 02/10/2025     35,000   34,998,948
ING (US) Funding LLC(b)(c) 5.21% 04/17/2025     50,000   48,413,500
National Australia Bank Ltd. (SOFR + 0.25%) (Australia)(b)(c)(d) 5.63% 03/17/2025     50,000   49,999,897
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.18%) (Singapore)(b)(c)(d) 5.61% 12/04/2024     40,000   39,998,932
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.21%) (Singapore)(b)(c)(d) 5.66% 01/10/2025     50,000   50,000,000
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.65% 01/14/2025     55,000   55,000,000
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.65% 02/18/2025     27,000   26,999,947
Royal Bank of Canada (SOFR + 0.55%) (Canada)(b)(c)(d) 6.02% 09/23/2024    100,000  100,000,000
Royal Bank of Canada (SOFR + 0.35%) (Canada)(b)(c)(d) 5.76% 07/29/2025     25,000   25,000,000
Svenska Handelsbanken AB (SOFR + 0.21%) (Sweden)(b)(c)(d) 5.67% 01/03/2025     35,000   34,999,962
Svenska Handelsbanken AB (SOFR + 0.21%) (Sweden)(b)(c)(d) 5.68% 02/24/2025     74,000   74,000,000
Toronto-Dominion Bank (The) (Canada)(b)(c) 5.19% 12/02/2024     50,000   49,367,500
United Overseas Bank Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.66% 01/22/2025     50,000   50,000,000
United Overseas Bank Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.64% 01/23/2025     50,000   50,000,000
United Overseas Bank Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.66% 02/20/2025     60,000   60,000,000
Westpac Banking Corp. (Australia)(b)(c) 5.93% 09/05/2024     30,000   29,981,333
Westpac Banking Corp. (Australia)(b)(c) 5.41% 09/11/2024      3,950    3,944,295
Westpac Banking Corp. (SOFR + 0.55%) (Australia)(b)(c)(d) 5.98% 10/08/2024    100,000  100,000,000
2,076,684,115
Diversified Capital Markets-3.34%
BofA Securities, Inc. (SOFR + 0.49%)(d) 5.97% 11/29/2024     25,000   25,000,000
BofA Securities, Inc. (SOFR + 0.40%)(d) 5.83% 08/22/2025     25,000   25,000,000
UBS AG(b)(c) 5.41% 10/02/2024     30,000   29,865,666
UBS AG (SOFR + 0.25%)(b)(c)(d) 5.71% 11/22/2024     30,000   30,000,000
UBS AG(b)(c) 5.50% 02/18/2025     75,000   73,130,000
UBS AG (SOFR + 0.31%)(b)(c)(d) 5.77% 02/24/2025     75,000   75,000,000
257,995,666
Specialized Finance-0.97%
Caisse d'Amortissement de la Dette Sociale (France)(b)(c) 5.41% 09/23/2024     50,000   49,837,750
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)
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Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
Specialized Finance-(continued)
CDP Financial, Inc. (SOFR + 0.34%) (Canada)(b)(c)(d) 5.80% 01/09/2025 $     25,000 $   25,000,000
74,837,750
Total Commercial Paper (Cost $3,419,468,264) 3,419,468,264
Certificates of Deposit-19.28%
Australia & New Zealand Banking Group Ltd.(c) 5.32% 09/03/2024    100,000  100,000,000
Bank of America N.A. (SOFR + 0.35%)(d) 5.69% 01/07/2025     50,000   50,000,000
Bank of America N.A. 5.50% 05/23/2025     80,000   80,000,000
Bank of America N.A. (SOFR + 0.38%)(d) 5.71% 07/03/2025     50,000   50,000,000
Cooperatieve Rabobank U.A.(c) 5.31% 09/03/2024    150,000  150,000,000
Cooperatieve Rabobank U.A.(c) 5.56% 12/04/2024     22,000   22,003,218
Credit Agricole Corporate & Investment Bank(c) 5.31% 09/03/2024    250,000  250,000,000
DZ Bank AG(c) 5.15% 04/29/2025     50,000   50,021,544
Korea Development Bank (The) (SOFR + 0.27%) (South Korea)(c)(d) 5.60% 03/13/2025     20,000   20,000,998
Mizuho Bank Ltd.(c) 5.32% 09/03/2024    245,000  245,000,000
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.21%) (Singapore)(c)(d) 5.54% 01/03/2025     40,000   40,000,000
Royal Bank of Canada(c) 5.93% 09/16/2024     25,000   25,000,000
Sumitomo Mitsui Trust Bank Ltd.(c) 5.31% 09/03/2024    150,000  150,000,000
Svenska Handelsbanken AB(c) 5.31% 09/03/2024     75,000   75,000,000
Svenska Handelsbanken AB (SOFR + 0.25%) (Sweden)(c)(d) 5.58% 02/28/2025     30,000   29,999,934
Swedbank AB(c) 5.39% 12/02/2024     50,000   50,000,000
Toronto-Dominion Bank (The)(c) 6.00% 09/09/2024     30,000   30,000,000
Toronto-Dominion Bank (The)(c) 6.00% 09/20/2024      8,719    8,720,164
Toronto-Dominion Bank (The)(c) 5.42% 04/08/2025     20,000   20,000,000
Toronto-Dominion Bank (The)(c) 5.48% 05/21/2025     20,000   20,000,000
Toronto-Dominion Bank (The)(c) 5.07% 07/25/2025     25,000   25,000,000
Total Certificates of Deposit (Cost $1,490,745,858) 1,490,745,858
Variable Rate Demand Notes-2.16%(e)
Credit Enhanced-2.16%
Altoona-Blair County Development Corp.; Series 2015, VRD Bonds (LOC - PNC Bank, N.A.)(b)(f) 5.39% 09/11/2024     17,850   17,850,000
Board of Regents of the University of Texas System; Subseries 2016 G-1, VRD RB 5.30% 08/01/2045     90,240   90,240,000
Jets Stadium Development LLC; Series 2014 A-4B, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)(b)(c)(f) 5.92% 09/11/2024     12,700   12,700,000
Jets Stadium Development LLC; Series 2014 A-4C, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)(b)(c)(f) 5.92% 09/11/2024     27,700   27,700,000
Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank, N.A.)(f) 5.38% 09/12/2024     14,060   14,060,000
Ziegler Realty LLC; Series 2007, VRD Notes (LOC - Wells Fargo Bank, N.A.)(b)(f) 5.36% 01/01/2033      4,100    4,100,000
Total Variable Rate Demand Notes (Cost $166,650,000) 166,650,000
U.S. Dollar Denominated Bonds & Notes-0.15%
Diversified Banks-0.15%
Royal Bank of Canada (Canada)(c)(Cost $11,784,339) 4.95% 04/25/2025     11,812   11,784,339
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-65.81%
(Cost $5,088,648,461) 		5,088,648,461
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)
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Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Repurchase
Amount 		Value
Repurchase Agreements-34.30%(g)
BMO Capital Markets Corp., joint term agreement dated 08/28/2024, aggregate maturing value of $125,132,465 (collateralized by agency and non-agency asset-backed securities, agency and non-agency mortgage-backed securities, corporate obligations, U.S. government sponsored agency obligations, U.S. Treasury obligations valued at $134,989,623; 0.00% - 12.96%; 10/25/2024 - 06/20/2074)(c)(h) 5.45% 09/04/2024 $ 60,063,583 $   60,000,000
BMO Capital Markets Corp., joint term agreement dated 08/28/2024, aggregate maturing value of $475,500,597 (collateralized by agency and non-agency asset-backed securities, agency and non-agency mortgage-backed securities, corporate obligations, U.S. government sponsored agency obligations, U.S. Treasury obligations valued at $493,050,532; 0.00% - 9.91%; 09/10/2024 - 06/20/2074)(c)(h) 5.42% 09/04/2024 120,126,467  120,000,000
BNP Paribas Securities Corp., term agreement dated 08/27/2024, maturing value of $20,021,000 (collateralized by agency mortgage-backed securities, corporate obligations and a non-agency asset-backed security valued at $20,943,618; 2.29% - 5.95%; 06/06/2025 - 04/05/2054)(c)(h) 5.40% 09/03/2024  20,021,000   20,000,000
BNP Paribas Securities Corp., term agreement dated 08/28/2024, maturing value of $110,115,500 (collateralized by non-agency asset-backed securities, agency and non-agency mortgage-backed securities and corporate obligations valued at $114,513,083; 0.33% - 9.95%; 08/15/2025 - 06/25/2069)(c)(h) 5.40% 09/04/2024 110,115,500  110,000,000
BNP Paribas Securities Corp., term agreement dated 08/28/2024, maturing value of $140,148,633 (collateralized by non-agency asset-backed securities and non-agency mortgage-backed securities valued at $154,019,189; 4.71% - 15.49%; 12/21/2026 - 05/25/2065)(c)(h) 5.46% 09/04/2024 140,148,633  140,000,000
Credit Agricole Corporate & Investment Bank, joint open agreement dated 07/17/2024 (collateralized by commercial paper, corporate obligations, non-agency asset-backed securities, non-agency mortgage-backed securities and a U.S. Treasury obligation valued at $157,096,330; 0.00% - 11.00%; 09/24/2024 - 05/24/2061)(c)(i) 5.45% 09/03/2024  30,149,500   30,000,000
ING Financial Markets, LLC, joint agreement dated 08/30/2024, aggregate maturing value of $450,269,500 (collateralized by equity securities valued at $472,500,054; 0.00%)(c) 5.39% 09/03/2024 120,071,867  120,000,000
J.P. Morgan Securities LLC, open agreement dated 07/17/2024 (collateralized by commercial paper, corporate obligations and non-agency asset-backed securities valued at $184,631,041; 0.00% - 9.50%; 10/03/2024 - 11/30/2063)(i) 5.62% 09/03/2024 175,901,931  175,000,000
Mizuho Securities (USA) LLC, joint open agreement dated 06/20/2024 (collateralized by equity securities valued at $294,000,033; 0.00%)(c)(i) 5.47% 09/03/2024 140,085,089  140,000,000
RBC Capital Markets LLC, joint term agreement dated 08/27/2024, aggregate maturing value of $150,160,417 (collateralized by agency mortgage-backed securities, commercial paper, corporate obligations and a non-agency mortgage-backed security valued at $164,938,678; 0.00% - 14.00%; 09/20/2024 - 01/15/2077)(c)(h) 5.50% 09/03/2024  30,032,083   30,000,000
Societe Generale, open agreement dated 07/17/2024 (collateralized by commercial paper, corporate obligations, non-agency asset-backed securities and non-agency mortgage-backed securities valued at $86,940,244; 2.50% - 11.00%; 10/01/2024 - 10/15/2048)(c)(i) 5.50% 09/03/2024  80,048,889   80,000,000
Standard Chartered Bank, joint agreement dated 08/30/2024, aggregate maturing value of $2,001,180,000 (collateralized by U.S. Treasury obligations valued at $2,041,203,675; 0.00% - 6.25%; 09/05/2024 - 08/15/2054) 5.31% 09/03/2024 655,794,443  655,407,752
Sumitomo Mitsui Banking Corp., joint agreement dated 08/30/2024, aggregate maturing value of $5,002,961,111 (collateralized by agency mortgage-backed securities valued at $5,138,746,291; 3.00% - 6.50%; 10/20/2042 - 06/20/2054) 5.33% 09/03/2024 862,353,810  861,843,407
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)
Table of Contents
Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Repurchase
Amount 		Value
TD Securities (USA) LLC, joint term agreement dated 08/28/2024, aggregate maturing value of $450,473,375 (collateralized by corporate obligations valued at $472,508,170; 2.00% - 7.34%; 01/16/2025 - 06/15/2051)(c)(h) 5.41% 09/04/2024 $110,115,714 $  110,000,000
Total Repurchase Agreements (Cost $2,652,251,159) 2,652,251,159
TOTAL INVESTMENTS IN SECURITIES(j)(k)-100.11% (Cost $7,740,899,620) 7,740,899,620
OTHER ASSETS LESS LIABILITIES-(0.11)% (8,472,441)
NET ASSETS-100.00% $7,732,427,179
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
Notes to Schedule of Investments:
(a) Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.
(b) 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, 2024 was $3,008,175,230, which represented 38.90% of the Fund's Net Assets.
(c) 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: 16.3%; France: 13.4%; Australia: 8.1%; Japan: 7.6%; Netherlands: 5.1%; other countries less than 5% each:19.7%.
(d) Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2024.
(e) 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, 2024.
(f) Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.
(g) Principal amount equals value at period end. See Note 1I.
(h) The Fund may demand payment of the term repurchase agreement upon one to seven business days' notice depending on the timing of the demand.
(i) 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.
(j) Also represents cost for federal income tax purposes.
(k) 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.
6 AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
Table of Contents
Schedule of Investments
August 31, 2024
Invesco Premier U.S. Government Money Portfolio
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
U.S. Treasury Securities-28.42%
U.S. Treasury Bills-22.77%(a)
U.S. Treasury Bills 5.26% 09/24/2024 $     150,000 $   149,497,833
U.S. Treasury Bills 5.28% 09/26/2024     250,000   249,091,146
U.S. Treasury Bills 5.27% 10/01/2024     877,000   873,263,089
U.S. Treasury Bills 5.23% 10/08/2024     150,000   149,199,875
U.S. Treasury Bills 5.22% 10/15/2024     250,000   248,418,750
U.S. Treasury Bills 5.17% 10/22/2024     150,000   148,910,938
U.S. Treasury Bills 5.21% 10/31/2024     350,000   346,998,749
U.S. Treasury Bills 5.20% 11/26/2024     350,000   345,723,292
U.S. Treasury Bills 5.04%-5.11% 11/29/2024     175,000   172,915,917
U.S. Treasury Bills 5.06% 12/17/2024     300,000   295,559,499
U.S. Treasury Bills 5.00% 12/24/2024      78,000    76,784,760
U.S. Treasury Bills 5.25% 01/02/2025     100,000    98,252,375
U.S. Treasury Bills 5.21% 01/09/2025     250,000   245,413,889
U.S. Treasury Bills 4.79%-5.12% 01/23/2025     358,000   351,030,480
U.S. Treasury Bills 5.06% 01/30/2025     350,000   342,762,486
U.S. Treasury Bills 4.91% 02/13/2025      50,000    48,901,146
U.S. Treasury Bills 4.89% 02/20/2025      10,000     9,772,100
U.S. Treasury Bills 5.03%-5.20% 04/17/2025     125,000   121,133,263
U.S. Treasury Bills 5.02% 07/10/2025     125,000   119,827,083
4,393,456,670
U.S. Treasury Floating Rate Notes-5.00%
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.17%)(b) 5.21% 04/30/2025     125,000   124,998,978
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.13%)(b) 5.17% 07/31/2025     690,000   689,661,122
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.17%)(b) 5.21% 10/31/2025      50,000    50,000,000
U.S. Treasury Floating Rate Notes (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.25%)(b) 5.29% 01/31/2026     100,000   100,056,210
964,716,310
U.S. Treasury Notes-0.65%
U.S. Treasury Notes 1.50% 10/31/2024     125,000   124,302,393
Total U.S. Treasury Securities (Cost $5,482,475,373) 5,482,475,373
U.S. Government Sponsored Agency Securities-14.19%
Federal Farm Credit Bank (FFCB)-9.00%
Federal Farm Credit Bank (SOFR + 0.08%)(b) 5.41% 11/22/2024      20,000    20,000,000
Federal Farm Credit Bank (SOFR + 0.08%)(b) 5.41% 12/30/2024      47,000    47,000,000
Federal Farm Credit Bank (SOFR + 0.09%)(b) 5.42% 03/07/2025      30,000    30,000,000
Federal Farm Credit Bank (SOFR + 0.12%)(b) 5.45% 05/30/2025       5,000     5,000,000
Federal Farm Credit Bank (SOFR + 0.11%)(b) 5.44% 06/13/2025      25,000    25,000,000
Federal Farm Credit Bank (SOFR + 0.13%)(b) 5.46% 06/27/2025      47,000    47,000,000
Federal Farm Credit Bank (SOFR + 0.16%)(b) 5.49% 07/07/2025     125,000   125,078,720
Federal Farm Credit Bank (SOFR + 0.16%)(b) 5.49% 08/04/2025       5,000     5,002,846
Federal Farm Credit Bank (SOFR + 0.13%)(b) 5.46% 08/13/2025      18,000    18,000,000
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)
Table of Contents
Schedule of Investments-(continued)
August 31, 2024
Invesco Premier U.S. Government Money Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
Federal Farm Credit Bank (FFCB)-(continued)
Federal Farm Credit Bank (SOFR + 0.14%)(b) 5.47% 08/22/2025 $      50,000 $    50,000,000
Federal Farm Credit Bank (SOFR + 0.16%)(b) 5.49% 09/15/2025      30,000    30,024,168
Federal Farm Credit Bank (SOFR + 0.16%)(b) 5.49% 11/28/2025      30,000    30,000,000
Federal Farm Credit Bank (SOFR + 0.16%)(b) 5.49% 12/01/2025      15,000    15,000,000
Federal Farm Credit Bank (SOFR + 0.08%)(b) 5.41% 12/12/2025     100,000   100,000,000
Federal Farm Credit Bank (SOFR + 0.15%)(b) 5.48% 12/15/2025      20,000    20,000,000
Federal Farm Credit Bank (SOFR + 0.15%)(b) 5.48% 12/29/2025      45,000    45,000,000
Federal Farm Credit Bank (1 mo. EFFR + 0.06%)(b) 5.39% 01/16/2026      30,000    30,000,000
Federal Farm Credit Bank (SOFR + 0.16%)(b) 5.49% 01/23/2026      40,000    40,000,000
Federal Farm Credit Bank (SOFR + 0.15%)(b) 5.48% 01/29/2026      90,000    90,000,000
Federal Farm Credit Bank (SOFR + 0.14%)(b) 5.47% 01/30/2026      10,000    10,000,000
Federal Farm Credit Bank (SOFR + 0.09%)(b) 5.42% 02/02/2026      40,000    40,000,000
Federal Farm Credit Bank (SOFR + 0.09%)(b) 5.42% 02/12/2026      70,000    70,000,000
Federal Farm Credit Bank (SOFR + 0.08%)(b) 5.41% 03/04/2026      75,000    75,000,000
Federal Farm Credit Bank (SOFR + 0.12%)(b) 5.45% 03/12/2026      93,000    93,000,000
Federal Farm Credit Bank (SOFR + 0.11%)(b) 5.44% 03/18/2026     150,000   150,000,000
Federal Farm Credit Bank (SOFR + 0.11%)(b) 5.44% 03/26/2026      90,000    90,000,000
Federal Farm Credit Bank (1 mo. EFFR + 0.10%)(b) 5.43% 04/01/2026      50,000    50,000,000
Federal Farm Credit Bank (SOFR + 0.11%)(b) 5.44% 04/09/2026      30,000    30,000,000
Federal Farm Credit Bank (SOFR + 0.09%)(b) 5.42% 05/14/2026     125,000   125,000,000
Federal Farm Credit Bank (SOFR + 0.09%)(b) 5.42% 05/21/2026      80,000    80,000,000
Federal Farm Credit Bank (SOFR + 0.10%)(b) 5.43% 06/03/2026      52,000    52,000,000
Federal Farm Credit Bank (SOFR + 0.10%)(b) 5.43% 06/18/2026      10,000    10,000,000
Federal Farm Credit Bank (SOFR + 0.10%)(b) 5.43% 07/01/2026      70,000    70,000,000
Federal Farm Credit Bank (SOFR + 0.12%)(b) 5.45% 07/23/2026      10,000    10,000,000
Federal Farm Credit Bank (SOFR + 0.14%)(b) 5.47% 08/26/2026      10,000    10,000,000
1,737,105,734
Federal Home Loan Bank (FHLB)-4.91%
Federal Home Loan Bank(a) 5.27% 11/01/2024      81,000    80,311,005
Federal Home Loan Bank(a) 4.86% 01/10/2025      75,000    73,730,937
Federal Home Loan Bank 5.03% 01/10/2025     200,000   200,000,000
Federal Home Loan Bank(a) 5.00% 02/10/2025     100,000    97,858,000
Federal Home Loan Bank (SOFR + 0.14%)(b) 5.47% 08/22/2025      30,000    30,000,000
Federal Home Loan Bank (SOFR + 0.15%)(b) 5.48% 12/08/2025      50,000    50,000,000
Federal Home Loan Bank (SOFR + 0.15%)(b) 5.48% 12/11/2025      15,000    15,000,000
Federal Home Loan Bank (SOFR + 0.19%)(b) 5.52% 01/14/2026     100,000   100,000,000
Federal Home Loan Bank (SOFR + 0.14%)(b) 5.47% 03/12/2026     200,000   200,000,000
Federal Home Loan Bank (SOFR + 0.10%)(b) 5.43% 05/13/2026     100,000   100,000,000
946,899,942
U.S. International Development Finance Corp. (DFC)-0.28%(c)
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.40% 06/15/2025       2,400     2,400,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.40% 09/15/2025        789      789,474
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)
Table of Contents
Schedule of Investments-(continued)
August 31, 2024
Invesco Premier U.S. Government Money Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
U.S. International Development Finance Corp. (DFC)(c)-(continued)
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.48% 11/15/2025 $       2,105 $     2,105,263
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.40% 09/15/2026       2,250     2,250,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.47% 09/15/2026       1,875     1,875,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.40% 12/15/2026       1,500     1,500,000
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.49% 06/20/2027       3,000     2,999,991
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.49% 06/20/2027       2,000     1,999,994
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.40% 02/15/2028       3,889     3,888,889
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.40% 06/20/2028       7,385     7,384,615
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate + 0.07%) 5.40% 08/15/2029       8,333     8,333,333
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.49% 03/15/2030      13,964    13,964,286
U.S. International Development Finance Corp. VRD Bonds (3 mo. U.S. Treasury Bill Rate) 5.40% 10/15/2030       3,472     3,472,222
52,963,067
Total U.S. Government Sponsored Agency Securities (Cost $2,736,968,743) 2,736,968,743
U.S. Government Sponsored Agency Mortgage-Backed Securities-1.40%
Federal Home Loan Mortgage Corp. (FHLMC)-0.76%
Federal Home Loan Mortgage Corp. (SOFR + 0.10%)(b) 5.43% 02/09/2026     147,000   147,000,000
Federal National Mortgage Association (FNMA)-0.64%
Federal National Mortgage Association (SOFR + 0.10%)(b) 5.43% 06/18/2026      38,500    38,500,000
Federal National Mortgage Association (SOFR + 0.14%)(b) 5.47% 08/21/2026      85,000    85,000,000
123,500,000
Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $270,500,000) 270,500,000
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-44.01%
(Cost $8,489,944,116) 		8,489,944,116
Repurchase
Amount
Repurchase Agreements-57.18%(d)
Banco Santander, joint agreement dated 08/30/2024, aggregate maturing value of $500,296,111 (collateralized by agency mortgage-backed securities valued at $510,302,034; 0.00% - 7.00%; 10/15/2026 - 06/15/2059) 5.33% 09/03/2024   40,023,689    40,000,000
Bank of Nova Scotia, joint agreement dated 08/30/2024, aggregate maturing value of $1,500,888,333 (collateralized by agency mortgage-backed securities valued at $1,530,000,000; 2.00% - 7.00%; 09/01/2027 - 08/01/2054) 5.33% 09/03/2024  500,296,111   500,000,000
BMO Capital Markets Corp., joint term agreement dated 08/05/2024, aggregate maturing value of $503,337,500 (collateralized by agency mortgage-backed securities valued at $510,000,004; 1.00% - 6.50%; 04/25/2028 - 08/20/2064)(e) 5.34% 09/19/2024  241,602,000   240,000,000
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)
Table of Contents
Schedule of Investments-(continued)
August 31, 2024
Invesco Premier U.S. Government Money Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Repurchase
Amount 		Value
BNP Paribas Securities Corp., joint term agreement dated 01/26/2024, aggregate maturing value of $2,075,985,000 (collateralized by agency mortgage-backed securities, a U.S. government sponsored agency obligation and U.S. Treasury obligations valued at $2,040,000,000; 0.00% - 7.74%; 05/25/2025 - 07/20/2064)(e) 5.01% 10/28/2024 $  622,795,500 $   600,000,000
BNP Paribas Securities Corp., joint term agreement dated 01/30/2024, aggregate maturing value of $4,002,422,223 (collateralized by U.S. Treasury obligations valued at $4,080,000,192; 0.00% - 7.63%; 09/15/2024 - 02/15/2054)(e)(f) 5.45% 09/03/2024  600,363,333   600,000,000
BNP Paribas Securities Corp., joint term agreement dated 02/08/2024, aggregate maturing value of $1,401,480,890 (collateralized by U.S. Treasury obligations valued at $1,428,000,113; 0.00% - 5.23%; 09/10/2024 - 08/15/2054)(e)(f) 5.44% 09/06/2024  200,211,556   200,000,000
BofA Securities, Inc., joint term agreement dated 07/02/2024, aggregate maturing value of $1,000,596,666 (collateralized by U.S. Treasury obligations valued at $1,006,299,403; 0.00% - 5.38%; 08/31/2024 - 08/15/2054)(e)(f) 5.37% 09/03/2024  300,179,000   300,000,000
BofA Securities, Inc., joint term agreement dated 07/08/2024, aggregate maturing value of $750,447,500 (collateralized by U.S. Treasury obligations valued at $765,000,082; 0.38% - 4.63%; 06/15/2027 - 05/15/2049)(e)(f) 5.37% 09/03/2024  250,149,167   250,000,000
BofA Securities, Inc., joint term agreement dated 07/10/2024, aggregate maturing value of $1,500,898,333 (collateralized by agency mortgage-backed securities valued at $1,530,000,007; 1.25% - 6.60%; 03/25/2027 - 07/20/2074)(e)(f) 5.39% 09/03/2024  250,149,722   250,000,000
BofA Securities, Inc., joint term agreement dated 08/12/2024, aggregate maturing value of $1,000,596,666 (collateralized by U.S. Treasury obligations valued at $1,020,000,097; 0.00% - 4.63%; 11/29/2024 - 02/15/2053)(e)(f) 5.37% 09/03/2024  200,119,333   200,000,000
CIBC World Markets Corp., joint term agreement dated 07/22/2024, aggregate maturing value of $453,878,750 (collateralized by agency mortgage-backed securities, U.S. government sponsored agency obligations and U.S. Treasury obligations valued at $459,000,089; 0.13% - 7.00%; 01/31/2025 - 09/01/2061)(e) 5.35% 09/18/2024   75,646,458    75,000,000
CIBC World Markets Corp., joint term agreement dated 08/01/2024, aggregate maturing value of $830,996,375 (collateralized by U.S. Treasury obligations valued at $841,500,000; 0.13% - 5.00%; 05/31/2025 - 02/15/2053)(e) 5.34% 09/19/2024  125,908,542   125,000,000
CIBC World Markets Corp., joint term agreement dated 08/13/2024, aggregate maturing value of $954,800,139 (collateralized by agency mortgage-backed securities, U.S. government sponsored agency obligations and U.S. Treasury obligations valued at $969,000,970; 0.13% - 7.38%; 01/31/2025 - 06/01/2063)(e) 5.35% 09/16/2024  261,313,722   260,000,000
Citigroup Global Markets, Inc., joint agreement dated 08/30/2024, aggregate maturing value of $500,296,111 (collateralized by U.S. Treasury obligations valued at $510,000,024; 0.13% - 4.50%; 01/15/2026 - 02/15/2054) 5.33% 09/03/2024  100,059,222   100,000,000
Citigroup Global Markets, Inc., joint term agreement dated 08/28/2024, aggregate maturing value of $1,201,248,333 (collateralized by agency mortgage-backed securities and U.S. Treasury obligations valued at $1,224,000,067; 2.00% - 7.50%; 11/15/2032 - 09/20/2053)(e) 5.35% 09/04/2024  345,358,896   345,000,000
Citigroup Global Markets, Inc., joint term agreement dated 08/28/2024, aggregate maturing value of $8,008,291,111 (collateralized by U.S. Treasury obligations valued at $8,160,000,006; 0.13% - 4.75%; 11/15/2040 - 02/15/2053)(e) 5.33% 09/04/2024 1,251,295,486  1,250,000,000
Credit Agricole Corporate & Investment Bank, joint term agreement dated 08/01/2024, aggregate maturing value of $1,005,043,333 (collateralized by U.S. Treasury obligations valued at $1,020,000,061; 2.88% - 4.63%; 05/15/2052 - 05/15/2054)(e) 5.34% 09/04/2024  155,781,717   155,000,000
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
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Schedule of Investments-(continued)
August 31, 2024
Invesco Premier U.S. Government Money Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Repurchase
Amount 		Value
Fixed Income Clearing Corp. - Bank of New York Mellon (The), joint agreement dated 08/30/2024, aggregate maturing value of $1,500,885,000 (collateralized by U.S. Treasury obligations valued at $1,530,000,123; 0.38% - 4.38%; 01/31/2026 - 08/15/2047) 5.31% 09/03/2024 $  150,088,500 $   150,000,000
ING Financial Markets, LLC, joint term agreement dated 08/01/2024, aggregate maturing value of $251,830,694 (collateralized by agency mortgage-backed securities valued at $255,000,001; 2.00% - 6.50%; 07/01/2051 - 02/20/2054) 5.38% 09/19/2024  100,732,278   100,000,000
J.P. Morgan Securities LLC, joint agreement dated 08/30/2024, aggregate maturing value of $1,000,592,222 (collateralized by agency mortgage-backed securities valued at $1,020,000,001; 1.61% - 8.19%; 09/01/2028 - 07/01/2056) 5.33% 09/03/2024  465,275,383   465,000,000
J.P. Morgan Securities LLC, joint open agreement dated 05/02/2023 (collateralized by agency mortgage-backed securities valued at $918,000,006; 1.10% - 9.10%; 06/20/2036 - 06/16/2063)(g) 5.32% 09/03/2024   65,317,128    65,000,000
Metropolitan Life Insurance Co., joint term agreement dated 08/27/2024, aggregate maturing value of $350,371,764 (collateralized by U.S. Treasury obligations valued at $361,183,795; 0.00%; 02/15/2043 - 08/15/2046)(e) 5.38% 09/03/2024   40,042,245    40,000,400
Mitsubishi UFJ Trust & Banking Corp., joint term agreement dated 08/28/2024, aggregate maturing value of $3,032,657,412 (collateralized by U.S. Treasury obligations valued at $3,095,460,772; 0.50% - 2.00%; 05/31/2027 - 11/15/2041)(e) 5.36% 09/04/2024  211,595,300   211,375,000
Mizuho Securities (USA) LLC, joint agreement dated 08/30/2024, aggregate maturing value of $750,444,167 (collateralized by agency mortgage-backed securities, U.S. government sponsored agency obligations valued at $765,000,000; 2.00% - 7.50%; 02/23/2026 - 09/01/2054) 5.33% 09/03/2024  385,228,006   385,000,000
RBC Dominion Securities Inc., joint term agreement dated 08/13/2024, aggregate maturing value of $2,863,761,658 (collateralized by agency mortgage-backed securities and U.S. Treasury obligations valued at $2,859,364,879; 0.00% - 7.00%; 09/26/2024 - 08/15/2054)(e) 5.09% 02/03/2025  819,681,333   800,000,000
Royal Bank of Canada, joint term agreement dated 03/21/2024, aggregate maturing value of $1,575,429,947 (collateralized by agency mortgage-backed securities and U.S. Treasury obligations valued at $1,536,786,557; 0.13% - 7.00%; 03/15/2027 - 08/01/2054)(e) 5.06% 02/12/2025  298,139,133   285,000,000
Royal Bank of Canada, joint term agreement dated 06/13/2024, aggregate maturing value of $3,692,889,960 (collateralized by agency mortgage-backed securities and U.S. Treasury obligations valued at $3,586,512,226; 0.13% - 7.50%; 02/28/2025 - 07/01/2054)(e) 5.16% 05/30/2025  708,959,250   675,000,000
Standard Chartered Bank, joint agreement dated 08/30/2024, aggregate maturing value of $2,001,180,000 (collateralized by U.S. Treasury obligations valued at $2,041,203,675; 0.00% - 6.25%; 09/05/2024 - 08/15/2054) 5.31% 09/03/2024  405,899,044   405,659,705
Sumitomo Mitsui Banking Corp., joint agreement dated 08/30/2024, aggregate maturing value of $5,002,961,111 (collateralized by agency mortgage-backed securities valued at $5,138,746,291; 3.00% - 6.50%; 10/20/2042 - 06/20/2054) 5.33% 09/03/2024 1,000,592,222  1,000,000,000
TD Securities (USA) LLC, joint term agreement dated 08/28/2024, aggregate maturing value of $500,521,111 (collateralized by agency mortgage-backed securities valued at $510,000,000; 3.00% - 6.50%; 08/01/2050 - 05/01/2054)(e) 5.36% 09/04/2024  375,390,833   375,000,000
Wells Fargo Securities, LLC, joint term agreement dated 06/05/2024, aggregate maturing value of $623,931,679 (collateralized by agency mortgage-backed securities valued at $627,300,002; 1.50% - 8.50%; 01/01/2025 - 02/01/2056) 5.39% 09/10/2024  187,686,765   185,000,000
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
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Schedule of Investments-(continued)
August 31, 2024
Invesco Premier U.S. Government Money Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Repurchase
Amount 		Value
Wells Fargo Securities, LLC, joint term agreement dated 07/30/2024, aggregate maturing value of $2,214,005,875 (collateralized by agency mortgage-backed securities and U.S. government sponsored agency obligations valued at $2,228,700,001; 0.00% - 7.50%; 09/09/2024 - 01/01/2059) 5.31% 10/28/2024 $  405,310,000 $   400,000,000
Total Repurchase Agreements (Cost $11,032,035,105) 11,032,035,105
TOTAL INVESTMENTS IN SECURITIES(h)-101.19% (Cost $19,521,979,221) 19,521,979,221
OTHER ASSETS LESS LIABILITIES-(1.19)% (229,109,485)
NET ASSETS-100.00% $19,292,869,736
Investment Abbreviations:
EFFR -Effective Federal Funds Rate
SOFR -Secured Overnight Financing Rate
VRD -Variable Rate Demand
Notes to Schedule of Investments:
(a) Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.
(b) Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2024.
(c) 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, 2024.
(d) Principal amount equals value at period end. See Note 1I.
(e) The Fund may demand payment of the term repurchase agreement upon one to seven business days' notice depending on the timing of the demand.
(f) 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.
(g) 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.
(h) Also represents cost for federal income tax purposes.
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
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Statement of Assets and Liabilities
August 31, 2024
Invesco Premier
Portfolio 		Invesco Premier
U.S. Government
Money Portfolio
Assets:
Investments in unaffiliated securities, at value $5,088,648,461 $8,489,944,116
Repurchase agreements, at value and cost 2,652,251,159 11,032,035,105
Cash 12,222 296,748
Receivable for:
Fund shares sold 12,798,161 1,086,992
Interest 20,815,172 104,822,807
Investment for trustee deferred compensation and retirement plans 684,604 159,739
Total assets 7,775,209,779 19,628,345,507
Liabilities:
Payable for:
Investments purchased - 248,994,723
Fund shares reacquired 7,111,595 801,346
Dividends 33,815,706 82,581,195
Accrued fees to affiliates 1,167,726 2,930,376
Accrued operating expenses 2,969 8,392
Trustee deferred compensation and retirement plans 684,604 159,739
Total liabilities 42,782,600 335,475,771
Net assets applicable to shares outstanding $7,732,427,179 $19,292,869,736
Net assets consist of:
Shares of beneficial interest $7,732,302,064 $19,292,375,629
Distributable earnings (loss) 125,115 494,107
$7,732,427,179 $19,292,869,736
Net Assets:
Institutional Class $7,565,591,241 $18,887,977,561
Investor Class $152,476,697 $404,892,175
Personal Investment Class $13,631,836 $-
Private Investment Class $26,439 $-
Reserve Class $11,135 $-
Resource Class $689,831 $-
Shares outstanding, no par value,
unlimited number of shares authorized:
Institutional Class 7,565,156,713 18,886,552,709
Investor Class 152,459,345 404,862,497
Personal Investment Class 13,631,219 -
Private Investment Class 26,436 -
Reserve Class 11,134 -
Resource Class 689,753 -
Net asset value, offering and redemption price per share for each class $1.00 $1.00
Cost of Investments $7,740,899,620 $19,521,979,221
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
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Statements of Operations
For the year ended August 31, 2024
Invesco Premier
Portfolio 		Invesco Premier
U.S. Government
Money Portfolio
Investment income:
Interest $357,952,683 $1,056,509,111
Expenses:
Advisory fees 16,066,050 48,809,749
Distribution fees:
Personal Investment Class 53,321 -
Private Investment Class 77 -
Reserve Class 95 -
Resource Class 1,078 -
Professional services fees 5,431 22,357
Total expenses 16,126,052 48,832,106
Less: Fees waived (4,498,492) (13,666,724)
Net expenses 11,627,560 35,165,382
Net investment income 346,325,123 1,021,343,729
Net realized gain from unaffiliated investment securities 20,533 910,087
Net increase in net assets resulting from operations $346,345,656 $1,022,253,816
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
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Statements of Changes in Net Assets
For the years ended August 31, 2024 and 2023
Invesco Premier Portfolio Invesco Premier U.S. Government
Money Portfolio
2024 2023 2024 2023
Operations:
Net investment income $346,325,123 $155,276,607 $1,021,343,729 $750,648,316
Net realized gain (loss) 20,533 (985) 910,087 693,010
Net increase in net assets resulting from operations 346,345,656 155,275,622 1,022,253,816 751,341,326
Distributions to shareholders from distributable earnings:
Institutional Class (337,282,614) (150,314,419) (1,000,896,255) (742,267,166)
Investor Class (8,535,442) (4,607,779) (20,447,474) (8,381,150)
Personal Investment Class (469,960) (297,098) - -
Private Investment Class (1,317) (1,014) - -
Reserve Class (494) (371) - -
Resource Class (35,296) (55,926) - -
Total distributions from distributable earnings (346,325,123) (155,276,607) (1,021,343,729) (750,648,316)
Share transactions-net:
Institutional Class 2,790,848,017 3,032,288,022 (71,141,053) 9,023,822,566
Investor Class (5,997,098) 115,463,526 63,142,364 290,330,903
Personal Investment Class 6,526,699 (553,384) - -
Private Investment Class 1,313 945 - -
Reserve Class 494 343 - -
Resource Class 35,168 (2,191,285) - -
Net increase (decrease) in net assets resulting from share transactions 2,791,414,593 3,145,008,167 (7,998,689) 9,314,153,469
Net increase (decrease) in net assets 2,791,435,126 3,145,007,182 (7,088,602) 9,314,846,479
Net assets:
Beginning of year 4,940,992,053 1,795,984,871 19,299,958,338 9,985,111,859
End of year $7,732,427,179 $4,940,992,053 $19,292,869,736 $19,299,958,338
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
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Financial Highlights
The following schedule presents financial highlights for a share of the Funds outstanding throughout the periods indicated.
Institutional Class
Net asset
value,
beginning
of period 		Net
investment
income(a) 		Net gains
(losses)
on securities
(realized) 		Total from
investment
operations 		Dividends
from net
investment
income 		Net asset
value, end
of period 		Total
return(b) 		Net assets,
end of period
(000's omitted) 		Ratio of
expenses
to average
net assets
with fee waivers
and/or expense
reimbursements 		Ratio of
expenses
to average net
assets without
fee waivers
and/or expense
reimbursements 		Ratio of net
investment
income
to average
net assets
Invesco Premier Portfolio
Year ended 08/31/24 $1.00 $0.05 $0.00 $0.05 $(0.05) $1.00 5.54% $7,565,591 0.18% 0.25% 5.39%
Year ended 08/31/23 1.00 0.04 (0.00) 0.04 (0.04) 1.00 4.50 4,774,723 0.18 0.25 4.62
Year ended 08/31/22 1.00 0.01 (0.00) 0.01 (0.01) 1.00 0.51 1,742,441 0.18 0.25 0.61
Year ended 08/31/21 1.00 0.00 0.00 0.00 (0.00) 1.00 0.07 1,182,455 0.18 0.25 0.07
Year ended 08/31/20 1.00 0.01 0.00 0.01 (0.01) 1.00 1.20 1,559,622 0.18 0.25 1.22
Invesco Premier U.S. Government Money Portfolio
Year ended 08/31/24 1.00 0.05 0.00 0.05 (0.05) 1.00 5.36 18,887,978 0.18 0.25 5.23
Year ended 08/31/23 1.00 0.04 0.00 0.04 (0.04) 1.00 4.38 18,958,232 0.18 0.25 4.42
Year ended 08/31/22 1.00 0.00 (0.00) 0.00 (0.00) 1.00 0.45 9,933,723 0.14 0.25 0.59
Year ended 08/31/21 1.00 0.00 0.00 0.00 (0.00) 1.00 0.01 5,381,252 0.12 0.25 0.01
Year ended 08/31/20 1.00 0.01 0.00 0.01 (0.01) 1.00 0.93 11,687,666 0.18 0.25 0.83
(a) Calculated using average shares outstanding.
(b) 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.
16 AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
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Notes to Financial Statements
August 31, 2024
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 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
17 AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
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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. 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.
J. 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 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 Deutschland GmbH, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Inc., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and separate sub-advisory agreements with Invesco Capital Management LLC and Invesco Asset Management (India) Private Limited (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, 2024, 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.
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For the year ended August 31, 2024, the Adviser waived advisory fees and/or reimbursed Fund expenses in the following amounts:
Invesco Premier Portfolio $4,498,492
Invesco Premier U.S. Government Money Portfolio 13,666,724
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 Mellon") 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 Mellon 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, 2024, 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. When significant events due to market movements occur, foreign securities may be fair valued utilizing an independent pricing service.
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, 2024, 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-Security Transactions with Affiliated Funds
Each Fund is permitted to purchase securities from or sell securities to certain other affiliated funds under specified conditions outlined in procedures adopted by the Board of Trustees of the Trust. The procedures have been designed to ensure that any purchase or sale of securities by each Fund from or to another fund that is or could be considered an "affiliated person" by virtue of having a common investment adviser (or affiliated investment advisers), common Trustees and/or common officers is made in reliance on Rule 17a-7 of the 1940 Act and, to the extent applicable, related SEC staff positions. Each such transaction is effected at the security's "current market price", as provided for in these procedures and Rule 17a-7. Pursuant to these procedures, for the year ended August 31, 2024, the following Fund engaged in transactions with affiliates as listed below:
Securities Purchases Securities Sales Net Realized Gains
Invesco Premier Portfolio $106,706,671 $6,911,178 $-
NOTE 5-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.
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NOTE 6-Cash Balances
The Funds are permitted to temporarily overdraft or leave balances in their accounts with BNY Mellon, 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 Mellon or the Funds for such activity, the Funds may either (1) pay to or receive from BNY Mellon compensation at a rate agreed upon by BNY Mellon 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 Mellon or the Funds can be compensated for use of funds.
NOTE 7-Distributions to Shareholders and Tax Components of Net Assets
Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2024 and 2023:
2024 2023
Ordinary
Income* 		Ordinary
Income*
Invesco Premier Portfolio $346,325,123 $155,276,607
Invesco Premier U.S. Government Money Portfolio 1,021,343,729 750,648,316
* Includes short-term capital gain distributions, if any.
Tax Components of Net Assets at Period-End:
Undistributed
Ordinary
Income 		Undistributed
Long-Term
Capital Gains 		Shares of
Beneficial
Interest 		Total
Net Assets
Invesco Premier Portfolio $125,115 $- $7,732,302,064 $7,732,427,179
Invesco Premier U.S. Government Money Portfolio 268,904 225,203 19,292,375,629 19,292,869,736
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, 2024.
NOTE 8-Reclassification of Permanent Differences
Primarily as a result of differing book/tax treatment of distributions, on August 31, 2024, 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.
Undistributed Net
Investment Income 		Undistributed Net
Realized Gain (Loss) 		Shares of
Beneficial Interest
Invesco Premier Portfolio $19,548 $(19,547) $(1)
Invesco Premier U.S. Government Money Portfolio 136,535 (459,535) 323,000
NOTE 9-Share Information
Invesco Premier Portfolio
Summary of Share Activity
Years ended August 31,
2024(a) 2023
Shares Amount Shares Amount
Sold:
Institutional Class 9,739,077,117 $9,739,077,117 6,728,848,110 $6,728,848,110
Investor Class 336,725,771 336,725,771 256,914,518 256,914,518
Personal Investment Class 24,100,174 24,100,174 24,193,923 24,193,923
Issued as reinvestment of dividends:
Institutional Class 299,321,339 299,321,339 124,770,193 124,770,193
Investor Class 8,507,286 8,507,286 3,726,275 3,726,275
Personal Investment Class 442,533 442,533 280,128 280,128
Private Investment Class 1,313 1,313 945 945
Reserve Class 494 494 343 343
Resource Class 35,168 35,168 55,926 55,926
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NOTE 9-Share Information-(continued)
Summary of Share Activity
Years ended August 31,
2024(a) 2023
Shares Amount Shares Amount
Reacquired:
Institutional Class (7,247,550,439) $(7,247,550,439) (3,821,330,281) $(3,821,330,281)
Investor Class (351,230,155) (351,230,155) (145,177,267) (145,177,267)
Personal Investment Class (18,016,008) (18,016,008) (25,027,435) (25,027,435)
Resource Class - - (2,247,211) (2,247,211)
Net increase in share activity 2,791,414,593 $2,791,414,593 3,145,008,167 $3,145,008,167
(a) There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 56% 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
Years ended August 31,
2024(a) 2023
Shares Amount Shares Amount
Sold:
Institutional Class 51,409,565,237 $51,409,565,237 75,897,949,910 $75,897,949,910
Investor Class 450,315,377 450,315,377 606,735,166 606,735,166
Issued as reinvestment of dividends:
Institutional Class 549,306,804 549,306,804 318,111,677 318,111,677
Investor Class 20,382,490 20,382,490 6,835,954 6,835,954
Reacquired:
Institutional Class (52,030,013,094) (52,030,013,094) (67,192,239,021) (67,192,239,021)
Investor Class (407,555,503) (407,555,503) (323,240,217) (323,240,217)
Net increase (decrease) in share activity (7,998,689) $(7,998,689) 9,314,153,469 $9,314,153,469
(a) There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 68% 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.
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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, 2024, the related statements of operations for the year ended August 31, 2024, the statements of changes in net assets for each of the two years in the period ended August 31, 2024, including the related notes, and the financial highlights of the Institutional Class for each of the five years in the period ended August 31, 2024 (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, 2024, 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, 2024 and each of the financial highlights of the Institutional Class for each of the five years in the period ended August 31, 2024 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, 2024 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 23, 2024
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.
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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 12, 2024, 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 separate sub-advisory contracts with Invesco Capital Management LLC and Invesco Asset Management (India) Private Limited (collectively, the Affiliated Sub-Advisers and the sub-advisory contracts) for another year, effective July 1, 2024. 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.
The Board's Evaluation Process
The Board has established an Investments Committee, which in turn has established Sub-Committees, that meet throughout the year to review the performance of funds advised by Invesco Advisers (the Invesco Funds). The Sub-Committees meet regularly with portfolio managers for their assigned Invesco Funds and other members of management to review information about investment performance and portfolio attributes of these funds. The Board has established additional standing and ad hoc committees that meet regularly throughout the year to review matters within their purview, including a working group focused on opportunities to make ongoing and continuous improvements to the annual review process for the Invesco Funds' investment advisory 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, in considering whether to approve each Invesco Fund's investment advisory agreement and sub-advisory contracts.
As part of the contract renewal 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 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 mutual fund data provider, as well as information on the composition of the peer groups provided by Broadridge 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 contract renewal 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 7, 2024 and June 12, 2024, 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. Also, as part of the contract renewal process, the independent Trustees reviewed and considered information provided in response to follow-up requests for information submitted by the independent Trustees to management. The independent Trustees met and discussed those follow-up responses with legal counsel to the independent Trustees and the Senior Officer.
The discussion below is a summary of 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 in prior years 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. The information received and considered by the
Board was current as of various dates prior to the Board's approval on June 12, 2024.
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 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 observed that Invesco Advisers' systems preparedness and ongoing investment enabled Invesco Advisers 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 are appropriate and satisfactory.
INVESCO PREMIER PORTFOLIO
The Board reviewed the services that may be provided to the Fund by the Affiliated
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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 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 are appropriate and satisfactory.
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 are appropriate and satisfactory.
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, 2023 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 and the fifth quintile being the worst performing funds). The Board noted that performance of Investor Class shares of the Fund was reasonably comparable to 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, 2023 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 and the fifth quintile being the worst performing funds). The Board noted that performance of Investor Class shares of the Fund was reasonably comparable to 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 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 below 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 effective advisory fee rate (defined for this purpose as the advisory fee rate before the application of advisory fee waivers/expense limitations) to the effective advisory fee rates of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2023.
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 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 the same as the median contractual management and actual management fee rates of funds in its expense
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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 effective advisory fee rate (defined for this purpose as the advisory fee rate before the application of advisory fee waivers/expense limitations) to the effective advisory fee rates of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2023.
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
difficulty 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' 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.
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 determination that the services are required for the operation of each Fund.
25 AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
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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, 2024:
Federal and State Income Tax
Business Interest
Income* 		Qualified Business
Income* 		Qualified Dividend
Income* 		Corporate
Dividends
Received
Deduction* 		U.S Treasury
Obligations* 		Long Term
Capital Gain Distributions
Invesco Premier Portfolio 99.99% 0.00% 0.00% 0.00% 0.00% $0.00
Invesco Premier U.S. Government Money Portfolio 99.99% 0.00% 0.00% 0.00% 22.80% 323,000.00
* The above percentages are based on ordinary income dividends paid to shareholders during each Fund's fiscal year.
Non-Resident Alien Shareholders
Qualified
Short-Term Gains 		Qualified
Interest Income**
Invesco Premier Portfolio $19,548 0.00%
Invesco Premier U.S. Government Money Portfolio 136,535 100.00%
** The above percentages are based on income dividends paid to shareholders during each Fund's fiscal year.
26 AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
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Other Information Required in Form N-CSR (Items 8-11)
Changes in and Disagreements with Accountants for Open-End Management Investment Companies
Not applicable.
Proxy Disclosures for Open-End Management Investment Companies
Not applicable.
Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies
The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.
Statement Regarding Basis for Approval of Investment Advisory Contracts
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.
27 AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
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SEC file numbers: 811-05460 and 033-19862 Invesco Distributors, Inc. CM-I-TST-NCSR-INST


Annual Financial Statements and Other Information August 31, 2024
Personal Investment Class
AIM Treasurer's Series Trust
(Invesco Treasurer's Series Trust)
Invesco Premier Portfolio
2 Schedule of Investments
7 Financial Statements
10 Financial Highlights
11 Notes to Financial Statements
15 Report of Independent Registered Public Accounting Firm
16 Approval of Investment Advisory and Sub-Advisory Contracts
19 Tax Information
20 Other Information Required in Form N-CSR (Items 8-11)
Table of Contents
Schedule of Investments
August 31, 2024
Invesco Premier Portfolio
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
Commercial Paper-44.22%(a)
Asset-Backed Securities - Consumer Receivables-0.44%
Old Line Funding LLC (CEP - Royal Bank of Canada)(b)(c) 5.00% 02/03/2025 $     10,000 $    9,789,889
Thunder Bay Funding LLC (CEP - Royal Bank of Canada)(b)(c) 5.76% 11/22/2024     25,000   24,689,653
34,479,542
Asset-Backed Securities - Fully Supported-8.25%
Anglesea Funding PLC (Multi - CEP's), (1 mo. OBFR + 0.14%)(b)(c)(d) 5.59% 11/21/2024     40,000   40,000,000
Anglesea Funding PLC (Multi - CEP's), (1 mo. OBFR + 0.14%)(b)(c)(d) 5.55% 12/03/2024     80,000   80,000,000
Aquitaine Funding Co. LLC (CEP - Societe Generale S.A.)(b)(c) 5.42% 11/01/2024     50,000   49,547,584
Bennington Stark Capital Co. LLC (CEP - Societe Generale S.A.), (SOFR + 0.20%)(b)(c)(d) 5.54% 10/28/2024     90,000   90,000,000
Great Bear Funding LLC (CEP - Bank of Nova Scotia), (1 mo. OBFR + 0.23%)(c)(d) 5.66% 01/15/2025     50,000   50,000,000
Great Bear Funding LLC (CEP - Bank of Nova Scotia), (1 mo. OBFR + 0.23%)(c)(d) 5.66% 01/15/2025     60,000   60,000,000
Great Bear Funding LLC (CEP - Bank of Nova Scotia), (1 mo. OBFR + 0.30%)(c)(d) 5.69% 03/28/2025     50,000   50,000,000
Longship Funding LLC (CEP - Nordea Bank AB)(b)(c) 5.34% 09/05/2024    100,000   99,940,778
Mountcliff Funding LLC (Multi - CEP's)(b)(c) 5.40% 10/23/2024     20,000   19,846,022
Mountcliff Funding LLC (Multi - CEP's)(b)(c) 5.38% 10/31/2024     50,000   49,557,500
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)(b)(c) 5.52% 11/14/2024     50,000   49,448,083
638,339,967
Asset-Backed Securities - Fully Supported Bank-3.72%
Cabot Trail Funding LLC (CEP - Toronto-Dominion Bank)(b)(c) 5.39% 12/20/2024     50,000   49,193,333
Collateralized Commercial Paper V Co. LLC (CEP - JPMorgan Securities LLC), (SOFR + 0.32%)(d) 5.72% 04/11/2025     50,000   50,000,000
Collateralized Commercial Paper V Co. LLC (CEP - JPMorgan Securities LLC), (SOFR + 0.32%)(d) 5.72% 04/17/2025     50,000   50,000,000
Collateralized Commercial Paper V Co. LLC (CEP - JPMorgan Securities LLC), (SOFR + 0.30%)(d) 5.69% 05/23/2025     15,000   15,000,000
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.48% 10/03/2024     41,225   41,027,853
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.41% 10/17/2024      5,336    5,299,523
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.42% 10/23/2024     14,700   14,586,402
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.40% 10/25/2024     37,585   37,284,508
Mont Blanc Capital Corp. (CEP - ING Bank N.V.)(b)(c) 5.48% 09/17/2024     18,170   18,126,553
Sheffield Receivables Co. LLC (CEP - Barclays Bank PLC)(b) 5.40% 10/23/2024      7,000    6,946,108
287,464,280
Consumer Finance-0.64%
Toyota Finance Australia Ltd. (Australia)(c) 5.56% 10/15/2024     50,000   49,666,944
Diversified Banks-26.86%
Australia & New Zealand Banking Group Ltd. (Australia)(b)(c) 5.36% 09/18/2024     25,000   24,939,201
Australia & New Zealand Banking Group Ltd. (SOFR + 0.20%) (Australia)(b)(c)(d) 5.65% 10/30/2024     25,000   25,000,000
Australia & New Zealand Banking Group Ltd. (SOFR + 0.34%) (Australia)(b)(c)(d) 5.80% 01/08/2025     50,000   50,000,000
Australia & New Zealand Banking Group Ltd. (Australia)(b)(c) 5.41% 06/26/2025     50,000   47,876,750
Bank of Montreal (Canada)(c) 5.50% 06/11/2025     25,000   23,976,090
Bank of Montreal (SOFR + 0.35%) (Canada)(c)(d) 5.76% 06/25/2025     75,000   75,000,000
Barclays Bank PLC (SOFR + 0.25%)(b)(c)(d) 5.58% 10/11/2024     50,000   50,000,000
Barclays Bank PLC(b)(c) 5.40% 10/23/2024      4,500    4,465,355
Barclays Bank PLC (SOFR + 0.25%)(b)(c)(d) 5.71% 11/19/2024     50,000   50,000,000
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)
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Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
Diversified Banks-(continued)
Barclays Bank PLC(b)(c) 5.08% 01/02/2025 $     30,000 $   29,489,550
Barclays Bank PLC (SOFR + 0.21%)(b)(c)(d) 5.65% 01/15/2025     50,000   50,000,000
Barclays Bank PLC(b)(c) 5.08% 02/04/2025     45,000   44,034,750
Canadian Imperial Bank of Commerce (Canada)(b)(c) 5.34% 09/03/2024    100,000   99,970,389
Citigroup Global Markets, Inc.(b) 5.55%-5.56% 01/23/2025    100,000   97,868,000
Citigroup Global Markets, Inc.(b) 5.63% 04/30/2025     50,000   48,215,931
Commonwealth Bank of Australia (SOFR + 0.55%) (Australia)(b)(c)(d) 5.98% 10/10/2024     45,000   45,000,000
Commonwealth Bank of Australia (Australia)(b)(c) 5.95% 10/16/2024     50,000   49,648,750
Commonwealth Bank of Australia (SOFR + 0.35%) (Australia)(b)(c)(d) 5.72% 01/03/2025    100,000  100,000,000
Dexia S.A.(b)(c) 5.34% 10/01/2024     85,000   84,624,583
DNB Bank ASA (Norway)(b)(c) 5.94% 09/18/2024     45,000   44,881,000
DNB Bank ASA (Norway)(b)(c) 5.25% 09/24/2024     26,700   26,613,855
DNB Bank ASA (Norway)(b)(c) 5.97% 10/01/2024     50,000   49,765,417
DNB Bank ASA (Norway)(b)(c) 5.46% 11/22/2024     73,500   72,610,180
ING (US) Funding LLC (SOFR + 0.30%)(b)(c)(d) 5.68% 02/10/2025     35,000   34,998,948
ING (US) Funding LLC(b)(c) 5.21% 04/17/2025     50,000   48,413,500
National Australia Bank Ltd. (SOFR + 0.25%) (Australia)(b)(c)(d) 5.63% 03/17/2025     50,000   49,999,897
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.18%) (Singapore)(b)(c)(d) 5.61% 12/04/2024     40,000   39,998,932
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.21%) (Singapore)(b)(c)(d) 5.66% 01/10/2025     50,000   50,000,000
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.65% 01/14/2025     55,000   55,000,000
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.65% 02/18/2025     27,000   26,999,947
Royal Bank of Canada (SOFR + 0.55%) (Canada)(b)(c)(d) 6.02% 09/23/2024    100,000  100,000,000
Royal Bank of Canada (SOFR + 0.35%) (Canada)(b)(c)(d) 5.76% 07/29/2025     25,000   25,000,000
Svenska Handelsbanken AB (SOFR + 0.21%) (Sweden)(b)(c)(d) 5.67% 01/03/2025     35,000   34,999,962
Svenska Handelsbanken AB (SOFR + 0.21%) (Sweden)(b)(c)(d) 5.68% 02/24/2025     74,000   74,000,000
Toronto-Dominion Bank (The) (Canada)(b)(c) 5.19% 12/02/2024     50,000   49,367,500
United Overseas Bank Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.66% 01/22/2025     50,000   50,000,000
United Overseas Bank Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.64% 01/23/2025     50,000   50,000,000
United Overseas Bank Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.66% 02/20/2025     60,000   60,000,000
Westpac Banking Corp. (Australia)(b)(c) 5.93% 09/05/2024     30,000   29,981,333
Westpac Banking Corp. (Australia)(b)(c) 5.41% 09/11/2024      3,950    3,944,295
Westpac Banking Corp. (SOFR + 0.55%) (Australia)(b)(c)(d) 5.98% 10/08/2024    100,000  100,000,000
2,076,684,115
Diversified Capital Markets-3.34%
BofA Securities, Inc. (SOFR + 0.49%)(d) 5.97% 11/29/2024     25,000   25,000,000
BofA Securities, Inc. (SOFR + 0.40%)(d) 5.83% 08/22/2025     25,000   25,000,000
UBS AG(b)(c) 5.41% 10/02/2024     30,000   29,865,666
UBS AG (SOFR + 0.25%)(b)(c)(d) 5.71% 11/22/2024     30,000   30,000,000
UBS AG(b)(c) 5.50% 02/18/2025     75,000   73,130,000
UBS AG (SOFR + 0.31%)(b)(c)(d) 5.77% 02/24/2025     75,000   75,000,000
257,995,666
Specialized Finance-0.97%
Caisse d'Amortissement de la Dette Sociale (France)(b)(c) 5.41% 09/23/2024     50,000   49,837,750
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)
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Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
Specialized Finance-(continued)
CDP Financial, Inc. (SOFR + 0.34%) (Canada)(b)(c)(d) 5.80% 01/09/2025 $     25,000 $   25,000,000
74,837,750
Total Commercial Paper (Cost $3,419,468,264) 3,419,468,264
Certificates of Deposit-19.28%
Australia & New Zealand Banking Group Ltd.(c) 5.32% 09/03/2024    100,000  100,000,000
Bank of America N.A. (SOFR + 0.35%)(d) 5.69% 01/07/2025     50,000   50,000,000
Bank of America N.A. 5.50% 05/23/2025     80,000   80,000,000
Bank of America N.A. (SOFR + 0.38%)(d) 5.71% 07/03/2025     50,000   50,000,000
Cooperatieve Rabobank U.A.(c) 5.31% 09/03/2024    150,000  150,000,000
Cooperatieve Rabobank U.A.(c) 5.56% 12/04/2024     22,000   22,003,218
Credit Agricole Corporate & Investment Bank(c) 5.31% 09/03/2024    250,000  250,000,000
DZ Bank AG(c) 5.15% 04/29/2025     50,000   50,021,544
Korea Development Bank (The) (SOFR + 0.27%) (South Korea)(c)(d) 5.60% 03/13/2025     20,000   20,000,998
Mizuho Bank Ltd.(c) 5.32% 09/03/2024    245,000  245,000,000
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.21%) (Singapore)(c)(d) 5.54% 01/03/2025     40,000   40,000,000
Royal Bank of Canada(c) 5.93% 09/16/2024     25,000   25,000,000
Sumitomo Mitsui Trust Bank Ltd.(c) 5.31% 09/03/2024    150,000  150,000,000
Svenska Handelsbanken AB(c) 5.31% 09/03/2024     75,000   75,000,000
Svenska Handelsbanken AB (SOFR + 0.25%) (Sweden)(c)(d) 5.58% 02/28/2025     30,000   29,999,934
Swedbank AB(c) 5.39% 12/02/2024     50,000   50,000,000
Toronto-Dominion Bank (The)(c) 6.00% 09/09/2024     30,000   30,000,000
Toronto-Dominion Bank (The)(c) 6.00% 09/20/2024      8,719    8,720,164
Toronto-Dominion Bank (The)(c) 5.42% 04/08/2025     20,000   20,000,000
Toronto-Dominion Bank (The)(c) 5.48% 05/21/2025     20,000   20,000,000
Toronto-Dominion Bank (The)(c) 5.07% 07/25/2025     25,000   25,000,000
Total Certificates of Deposit (Cost $1,490,745,858) 1,490,745,858
Variable Rate Demand Notes-2.16%(e)
Credit Enhanced-2.16%
Altoona-Blair County Development Corp.; Series 2015, VRD Bonds (LOC - PNC Bank, N.A.)(b)(f) 5.39% 09/11/2024     17,850   17,850,000
Board of Regents of the University of Texas System; Subseries 2016 G-1, VRD RB 5.30% 08/01/2045     90,240   90,240,000
Jets Stadium Development LLC; Series 2014 A-4B, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)(b)(c)(f) 5.92% 09/11/2024     12,700   12,700,000
Jets Stadium Development LLC; Series 2014 A-4C, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)(b)(c)(f) 5.92% 09/11/2024     27,700   27,700,000
Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank, N.A.)(f) 5.38% 09/12/2024     14,060   14,060,000
Ziegler Realty LLC; Series 2007, VRD Notes (LOC - Wells Fargo Bank, N.A.)(b)(f) 5.36% 01/01/2033      4,100    4,100,000
Total Variable Rate Demand Notes (Cost $166,650,000) 166,650,000
U.S. Dollar Denominated Bonds & Notes-0.15%
Diversified Banks-0.15%
Royal Bank of Canada (Canada)(c)(Cost $11,784,339) 4.95% 04/25/2025     11,812   11,784,339
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-65.81%
(Cost $5,088,648,461) 		5,088,648,461
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)
Table of Contents
Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Repurchase
Amount 		Value
Repurchase Agreements-34.30%(g)
BMO Capital Markets Corp., joint term agreement dated 08/28/2024, aggregate maturing value of $125,132,465 (collateralized by agency and non-agency asset-backed securities, agency and non-agency mortgage-backed securities, corporate obligations, U.S. government sponsored agency obligations, U.S. Treasury obligations valued at $134,989,623; 0.00% - 12.96%; 10/25/2024 - 06/20/2074)(c)(h) 5.45% 09/04/2024 $ 60,063,583 $   60,000,000
BMO Capital Markets Corp., joint term agreement dated 08/28/2024, aggregate maturing value of $475,500,597 (collateralized by agency and non-agency asset-backed securities, agency and non-agency mortgage-backed securities, corporate obligations, U.S. government sponsored agency obligations, U.S. Treasury obligations valued at $493,050,532; 0.00% - 9.91%; 09/10/2024 - 06/20/2074)(c)(h) 5.42% 09/04/2024 120,126,467  120,000,000
BNP Paribas Securities Corp., term agreement dated 08/27/2024, maturing value of $20,021,000 (collateralized by agency mortgage-backed securities, corporate obligations and a non-agency asset-backed security valued at $20,943,618; 2.29% - 5.95%; 06/06/2025 - 04/05/2054)(c)(h) 5.40% 09/03/2024  20,021,000   20,000,000
BNP Paribas Securities Corp., term agreement dated 08/28/2024, maturing value of $110,115,500 (collateralized by non-agency asset-backed securities, agency and non-agency mortgage-backed securities and corporate obligations valued at $114,513,083; 0.33% - 9.95%; 08/15/2025 - 06/25/2069)(c)(h) 5.40% 09/04/2024 110,115,500  110,000,000
BNP Paribas Securities Corp., term agreement dated 08/28/2024, maturing value of $140,148,633 (collateralized by non-agency asset-backed securities and non-agency mortgage-backed securities valued at $154,019,189; 4.71% - 15.49%; 12/21/2026 - 05/25/2065)(c)(h) 5.46% 09/04/2024 140,148,633  140,000,000
Credit Agricole Corporate & Investment Bank, joint open agreement dated 07/17/2024 (collateralized by commercial paper, corporate obligations, non-agency asset-backed securities, non-agency mortgage-backed securities and a U.S. Treasury obligation valued at $157,096,330; 0.00% - 11.00%; 09/24/2024 - 05/24/2061)(c)(i) 5.45% 09/03/2024  30,149,500   30,000,000
ING Financial Markets, LLC, joint agreement dated 08/30/2024, aggregate maturing value of $450,269,500 (collateralized by equity securities valued at $472,500,054; 0.00%)(c) 5.39% 09/03/2024 120,071,867  120,000,000
J.P. Morgan Securities LLC, open agreement dated 07/17/2024 (collateralized by commercial paper, corporate obligations and non-agency asset-backed securities valued at $184,631,041; 0.00% - 9.50%; 10/03/2024 - 11/30/2063)(i) 5.62% 09/03/2024 175,901,931  175,000,000
Mizuho Securities (USA) LLC, joint open agreement dated 06/20/2024 (collateralized by equity securities valued at $294,000,033; 0.00%)(c)(i) 5.47% 09/03/2024 140,085,089  140,000,000
RBC Capital Markets LLC, joint term agreement dated 08/27/2024, aggregate maturing value of $150,160,417 (collateralized by agency mortgage-backed securities, commercial paper, corporate obligations and a non-agency mortgage-backed security valued at $164,938,678; 0.00% - 14.00%; 09/20/2024 - 01/15/2077)(c)(h) 5.50% 09/03/2024  30,032,083   30,000,000
Societe Generale, open agreement dated 07/17/2024 (collateralized by commercial paper, corporate obligations, non-agency asset-backed securities and non-agency mortgage-backed securities valued at $86,940,244; 2.50% - 11.00%; 10/01/2024 - 10/15/2048)(c)(i) 5.50% 09/03/2024  80,048,889   80,000,000
Standard Chartered Bank, joint agreement dated 08/30/2024, aggregate maturing value of $2,001,180,000 (collateralized by U.S. Treasury obligations valued at $2,041,203,675; 0.00% - 6.25%; 09/05/2024 - 08/15/2054) 5.31% 09/03/2024 655,794,443  655,407,752
Sumitomo Mitsui Banking Corp., joint agreement dated 08/30/2024, aggregate maturing value of $5,002,961,111 (collateralized by agency mortgage-backed securities valued at $5,138,746,291; 3.00% - 6.50%; 10/20/2042 - 06/20/2054) 5.33% 09/03/2024 862,353,810  861,843,407
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
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Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Repurchase
Amount 		Value
TD Securities (USA) LLC, joint term agreement dated 08/28/2024, aggregate maturing value of $450,473,375 (collateralized by corporate obligations valued at $472,508,170; 2.00% - 7.34%; 01/16/2025 - 06/15/2051)(c)(h) 5.41% 09/04/2024 $110,115,714 $  110,000,000
Total Repurchase Agreements (Cost $2,652,251,159) 2,652,251,159
TOTAL INVESTMENTS IN SECURITIES(j)(k)-100.11% (Cost $7,740,899,620) 7,740,899,620
OTHER ASSETS LESS LIABILITIES-(0.11)% (8,472,441)
NET ASSETS-100.00% $7,732,427,179
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
Notes to Schedule of Investments:
(a) Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.
(b) 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, 2024 was $3,008,175,230, which represented 38.90% of the Fund's Net Assets.
(c) 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: 16.3%; France: 13.4%; Australia: 8.1%; Japan: 7.6%; Netherlands: 5.1%; other countries less than 5% each:19.7%.
(d) Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2024.
(e) 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, 2024.
(f) Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.
(g) Principal amount equals value at period end. See Note 1I.
(h) The Fund may demand payment of the term repurchase agreement upon one to seven business days' notice depending on the timing of the demand.
(i) 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.
(j) Also represents cost for federal income tax purposes.
(k) 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.
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Statement of Assets and Liabilities
August 31, 2024
Invesco Premier
Portfolio
Assets:
Investments in unaffiliated securities, at value $5,088,648,461
Repurchase agreements, at value and cost 2,652,251,159
Cash 12,222
Receivable for:
Fund shares sold 12,798,161
Interest 20,815,172
Investment for trustee deferred compensation and retirement plans 684,604
Total assets 7,775,209,779
Liabilities:
Payable for:
Fund shares reacquired 7,111,595
Dividends 33,815,706
Accrued fees to affiliates 1,167,726
Accrued operating expenses 2,969
Trustee deferred compensation and retirement plans 684,604
Total liabilities 42,782,600
Net assets applicable to shares outstanding $7,732,427,179
Net assets consist of:
Shares of beneficial interest $7,732,302,064
Distributable earnings (loss) 125,115
$7,732,427,179
Net Assets:
Institutional Class $7,565,591,241
Investor Class $152,476,697
Personal Investment Class $13,631,836
Private Investment Class $26,439
Reserve Class $11,135
Resource Class $689,831
Shares outstanding, no par value,
unlimited number of shares authorized:
Institutional Class 7,565,156,713
Investor Class 152,459,345
Personal Investment Class 13,631,219
Private Investment Class 26,436
Reserve Class 11,134
Resource Class 689,753
Net asset value, offering and redemption price per share for each class $1.00
Cost of Investments $7,740,899,620
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 Operations
For the year ended August 31, 2024
Invesco Premier
Portfolio
Investment income:
Interest $357,952,683
Expenses:
Advisory fees 16,066,050
Distribution fees:
Personal Investment Class 53,321
Private Investment Class 77
Reserve Class 95
Resource Class 1,078
Professional services fees 5,431
Total expenses 16,126,052
Less: Fees waived (4,498,492)
Net expenses 11,627,560
Net investment income 346,325,123
Net realized gain from unaffiliated investment securities 20,533
Net increase in net assets resulting from operations $346,345,656
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
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Statement of Changes in Net Assets
For the years ended August 31, 2024 and 2023
Invesco Premier Portfolio
2024 2023
Operations:
Net investment income $346,325,123 $155,276,607
Net realized gain (loss) 20,533 (985)
Net increase in net assets resulting from operations 346,345,656 155,275,622
Distributions to shareholders from distributable earnings:
Institutional Class (337,282,614) (150,314,419)
Investor Class (8,535,442) (4,607,779)
Personal Investment Class (469,960) (297,098)
Private Investment Class (1,317) (1,014)
Reserve Class (494) (371)
Resource Class (35,296) (55,926)
Total distributions from distributable earnings (346,325,123) (155,276,607)
Share transactions-net:
Institutional Class 2,790,848,017 3,032,288,022
Investor Class (5,997,098) 115,463,526
Personal Investment Class 6,526,699 (553,384)
Private Investment Class 1,313 945
Reserve Class 494 343
Resource Class 35,168 (2,191,285)
Net increase in net assets resulting from share transactions 2,791,414,593 3,145,008,167
Net increase in net assets 2,791,435,126 3,145,007,182
Net assets:
Beginning of year 4,940,992,053 1,795,984,871
End of year $7,732,427,179 $4,940,992,053
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
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Financial Highlights
The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.
Personal Investment Class
Net asset
value,
beginning
of period 		Net
investment
income(a) 		Net gains
on securities
(realized) 		Total from
investment
operations 		Dividends
from net
investment
income 		Net asset
value, end
of period 		Total
return(b) 		Net assets,
end of period
(000's omitted) 		Ratio of
expenses
to average
net assets
with fee waivers
and/or expense
reimbursements 		Ratio of
expenses
to average net
assets without
fee waivers
and/or expense
reimbursements 		Ratio of net
investment
income
to average
net assets
Invesco Premier Portfolio
Year ended 08/31/24 $1.00 $0.05 $0.00 $0.05 $(0.05) $1.00 4.96% $13,632 0.73% 0.80% 4.84%
Year ended 08/31/23 1.00 0.04 (0.00) 0.04 (0.04) 1.00 3.92 7,105 0.73 0.80 4.07
Year ended 08/31/22 1.00 0.00 0.00 0.00 (0.00) 1.00 0.29 7,660 0.40 0.80 0.39
Year ended 08/31/21 1.00 0.00 0.00 0.00 (0.00) 1.00 0.01 10,829 0.23 0.80 0.02
Year ended 08/31/20 1.00 0.01 0.00 0.01 (0.01) 1.00 0.74 8,201 0.65 0.80 0.75
(a) Calculated using average shares outstanding.
(b) 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.
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Notes to Financial Statements
August 31, 2024
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 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
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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. 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.
J. 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 Deutschland GmbH, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Inc., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and separate sub-advisory agreements with Invesco Capital Management LLC and Invesco Asset Management (India) Private Limited (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, 2024, to waive advisory fees equal to 0.07% of the average daily net assets of the Fund.
For the year ended August 31, 2024, the Adviser waived advisory fees and/or reimbursed Fund expenses in the following amounts:
Invesco Premier Portfolio $4,498,492
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 Mellon") 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 Mellon also serves as the Fund's custodian.
12 AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
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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, 2024, 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. When significant events due to market movements occur, foreign securities may be fair valued utilizing an independent pricing service.
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, 2024, 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-Security Transactions with Affiliated Funds
The Fund is permitted to purchase securities from or sell securities to certain other affiliated funds under specified conditions outlined in procedures adopted by the Board of Trustees of the Trust. The procedures have been designed to ensure that any purchase or sale of securities by the Fund from or to another fund that is or could be considered an "affiliated person" by virtue of having a common investment adviser (or affiliated investment advisers), common Trustees and/or common officers is made in reliance on Rule 17a-7 of the 1940 Act and, to the extent applicable, related SEC staff positions. Each such transaction is effected at the security's "current market price", as provided for in these procedures and Rule 17a-7. Pursuant to these procedures, for the year ended August 31, 2024, the Fund engaged in securities purchases of $106,706,671 and securities sales of $6,911,178, which did not result in any net realized gains (losses).
NOTE 5-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 6-Cash Balances
The Fund is permitted to temporarily overdraft or leave balances in its account with BNY Mellon, 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 Mellon or the Fund for such activity, the Fund may either (1) pay to or receive from BNY Mellon compensation at a rate agreed upon by BNY Mellon 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 Mellon or the Fund can be compensated for use of funds.
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NOTE 7-Distributions to Shareholders and Tax Components of Net Assets
Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2024 and 2023:
2024 2023
Ordinary
Income* 		Ordinary
Income*
Invesco Premier Portfolio $346,325,123 $155,276,607
* Includes short-term capital gain distributions, if any.
Tax Components of Net Assets at Period-End:
Undistributed
Ordinary
Income 		Shares of
Beneficial
Interest 		Total
Net Assets
Invesco Premier Portfolio $125,115 $7,732,302,064 $7,732,427,179
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, 2024.
NOTE 8-Reclassification of Permanent Differences
Primarily as a result of differing book/tax treatment of distributions and equalization and equalization payment, on August 31, 2024, 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.
Undistributed Net
Investment Income 		Undistributed Net
Realized Gain (Loss) 		Shares of
Beneficial Interest
Invesco Premier Portfolio $19,548 $(19,547) $(1)
NOTE 9-Share Information
Invesco Premier Portfolio
Summary of Share Activity
Years ended August 31,
2024(a) 2023
Shares Amount Shares Amount
Sold:
Institutional Class 9,739,077,117 $9,739,077,117 6,728,848,110 $6,728,848,110
Investor Class 336,725,771 336,725,771 256,914,518 256,914,518
Personal Investment Class 24,100,174 24,100,174 24,193,923 24,193,923
Issued as reinvestment of dividends:
Institutional Class 299,321,339 299,321,339 124,770,193 124,770,193
Investor Class 8,507,286 8,507,286 3,726,275 3,726,275
Personal Investment Class 442,533 442,533 280,128 280,128
Private Investment Class 1,313 1,313 945 945
Reserve Class 494 494 343 343
Resource Class 35,168 35,168 55,926 55,926
Reacquired:
Institutional Class (7,247,550,439) (7,247,550,439) (3,821,330,281) (3,821,330,281)
Investor Class (351,230,155) (351,230,155) (145,177,267) (145,177,267)
Personal Investment Class (18,016,008) (18,016,008) (25,027,435) (25,027,435)
Resource Class - - (2,247,211) (2,247,211)
Net increase in share activity 2,791,414,593 $2,791,414,593 3,145,008,167 $3,145,008,167
(a) There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 56% 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.
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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, 2024, the related statement of operations for the year ended August 31, 2024, the statement of changes in net assets for each of the two years in the period ended August 31, 2024, 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, 2024 (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, 2024, 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, 2024 and the financial highlights of the Personal Investment Class for each of the five years in the period ended August 31, 2024 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, 2024 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 23, 2024
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.
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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 12, 2024, 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 separate sub-advisory contracts with Invesco Capital Management LLC and Invesco Asset Management (India) Private Limited (collectively, the Affiliated Sub-Advisers and the sub-advisory contracts) for another year, effective July 1, 2024. 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.
The Board's Evaluation Process
The Board has established an Investments Committee, which in turn has established Sub-Committees, that meet throughout the year to review the performance of funds advised by Invesco Advisers (the Invesco Funds). The Sub-Committees meet regularly with portfolio managers for their assigned Invesco Funds and other members of management to review information about investment performance and portfolio attributes of these funds. The Board has established additional standing and ad hoc committees that meet regularly throughout the year to review matters within their purview, including a working group focused on opportunities to make ongoing and continuous improvements to the annual review process for the Invesco Funds' investment advisory 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, in considering whether to approve each Invesco Fund's investment advisory agreement and sub-advisory contracts.
As part of the contract renewal 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 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 mutual fund data provider, as well as information on the composition of the peer groups provided by Broadridge 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 contract renewal 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 7, 2024 and June 12, 2024, 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. Also, as part of the contract renewal process, the independent Trustees reviewed and considered information provided in response to follow-up requests for information submitted by the independent Trustees to management. The independent Trustees met and discussed those follow-up responses with legal counsel to the independent Trustees and the Senior Officer.
The discussion below is a summary of 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 in prior years 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. The information received and considered by the
Board was current as of various dates prior to the Board's approval on June 12, 2024.
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 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 observed that Invesco Advisers' systems preparedness and ongoing investment enabled Invesco Advisers 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 are appropriate and satisfactory.
INVESCO PREMIER PORTFOLIO
The Board reviewed the services that may be provided to the Fund by the Affiliated
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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 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 are appropriate and satisfactory.
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 are appropriate and satisfactory.
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, 2023 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 and the fifth quintile being the worst performing funds). The Board noted that performance of Investor Class shares of the Fund was reasonably comparable to 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, 2023 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 and the fifth quintile being the worst performing funds). The Board noted that performance of Investor Class shares of the Fund was reasonably comparable to 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 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 below 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 effective advisory fee rate (defined for this purpose as the advisory fee rate before the application of advisory fee waivers/expense limitations) to the effective advisory fee rates of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2023.
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 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 the same as the median contractual management and actual management fee rates of funds in its expense
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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 effective advisory fee rate (defined for this purpose as the advisory fee rate before the application of advisory fee waivers/expense limitations) to the effective advisory fee rates of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2023.
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
difficulty 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' 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.
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 determination that the services are required for the operation of each Fund.
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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, 2024:
Federal and State Income Tax
Business Interest
Income* 		Qualified Business
Income* 		Qualified Dividend
Income* 		Corporate
Dividends
Received
Deduction* 		U.S Treasury
Obligations*
Invesco Premier Portfolio 99.99% 0.00% 0.00% 0.00% 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
Short-Term Gains 		Qualified
Interest Income**
Invesco Premier Portfolio $19,548 0.00%
** The above percentages are based on income dividends paid to shareholders during the Fund's fiscal year.
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Other Information Required in Form N-CSR (Items 8-11)
Changes in and Disagreements with Accountants for Open-End Management Investment Companies
Not applicable.
Proxy Disclosures for Open-End Management Investment Companies
Not applicable.
Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies
The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.
Statement Regarding Basis for Approval of Investment Advisory Contracts
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.
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SEC file numbers: 811-05460 and 033-19862 Invesco Distributors, Inc. CM-I-TST-NCSR-PER


Annual Financial Statements and Other Information August 31, 2024
Private Investment Class
AIM Treasurer's Series Trust
(Invesco Treasurer's Series Trust)
Invesco Premier Portfolio
2 Schedule of Investments
7 Financial Statements
10 Financial Highlights
11 Notes to Financial Statements
15 Report of Independent Registered Public Accounting Firm
16 Approval of Investment Advisory and Sub-Advisory Contracts
19 Tax Information
20 Other Information Required in Form N-CSR (Items 8-11)
Table of Contents
Schedule of Investments
August 31, 2024
Invesco Premier Portfolio
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
Commercial Paper-44.22%(a)
Asset-Backed Securities - Consumer Receivables-0.44%
Old Line Funding LLC (CEP - Royal Bank of Canada)(b)(c) 5.00% 02/03/2025 $     10,000 $    9,789,889
Thunder Bay Funding LLC (CEP - Royal Bank of Canada)(b)(c) 5.76% 11/22/2024     25,000   24,689,653
34,479,542
Asset-Backed Securities - Fully Supported-8.25%
Anglesea Funding PLC (Multi - CEP's), (1 mo. OBFR + 0.14%)(b)(c)(d) 5.59% 11/21/2024     40,000   40,000,000
Anglesea Funding PLC (Multi - CEP's), (1 mo. OBFR + 0.14%)(b)(c)(d) 5.55% 12/03/2024     80,000   80,000,000
Aquitaine Funding Co. LLC (CEP - Societe Generale S.A.)(b)(c) 5.42% 11/01/2024     50,000   49,547,584
Bennington Stark Capital Co. LLC (CEP - Societe Generale S.A.), (SOFR + 0.20%)(b)(c)(d) 5.54% 10/28/2024     90,000   90,000,000
Great Bear Funding LLC (CEP - Bank of Nova Scotia), (1 mo. OBFR + 0.23%)(c)(d) 5.66% 01/15/2025     50,000   50,000,000
Great Bear Funding LLC (CEP - Bank of Nova Scotia), (1 mo. OBFR + 0.23%)(c)(d) 5.66% 01/15/2025     60,000   60,000,000
Great Bear Funding LLC (CEP - Bank of Nova Scotia), (1 mo. OBFR + 0.30%)(c)(d) 5.69% 03/28/2025     50,000   50,000,000
Longship Funding LLC (CEP - Nordea Bank AB)(b)(c) 5.34% 09/05/2024    100,000   99,940,778
Mountcliff Funding LLC (Multi - CEP's)(b)(c) 5.40% 10/23/2024     20,000   19,846,022
Mountcliff Funding LLC (Multi - CEP's)(b)(c) 5.38% 10/31/2024     50,000   49,557,500
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)(b)(c) 5.52% 11/14/2024     50,000   49,448,083
638,339,967
Asset-Backed Securities - Fully Supported Bank-3.72%
Cabot Trail Funding LLC (CEP - Toronto-Dominion Bank)(b)(c) 5.39% 12/20/2024     50,000   49,193,333
Collateralized Commercial Paper V Co. LLC (CEP - JPMorgan Securities LLC), (SOFR + 0.32%)(d) 5.72% 04/11/2025     50,000   50,000,000
Collateralized Commercial Paper V Co. LLC (CEP - JPMorgan Securities LLC), (SOFR + 0.32%)(d) 5.72% 04/17/2025     50,000   50,000,000
Collateralized Commercial Paper V Co. LLC (CEP - JPMorgan Securities LLC), (SOFR + 0.30%)(d) 5.69% 05/23/2025     15,000   15,000,000
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.48% 10/03/2024     41,225   41,027,853
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.41% 10/17/2024      5,336    5,299,523
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.42% 10/23/2024     14,700   14,586,402
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.40% 10/25/2024     37,585   37,284,508
Mont Blanc Capital Corp. (CEP - ING Bank N.V.)(b)(c) 5.48% 09/17/2024     18,170   18,126,553
Sheffield Receivables Co. LLC (CEP - Barclays Bank PLC)(b) 5.40% 10/23/2024      7,000    6,946,108
287,464,280
Consumer Finance-0.64%
Toyota Finance Australia Ltd. (Australia)(c) 5.56% 10/15/2024     50,000   49,666,944
Diversified Banks-26.86%
Australia & New Zealand Banking Group Ltd. (Australia)(b)(c) 5.36% 09/18/2024     25,000   24,939,201
Australia & New Zealand Banking Group Ltd. (SOFR + 0.20%) (Australia)(b)(c)(d) 5.65% 10/30/2024     25,000   25,000,000
Australia & New Zealand Banking Group Ltd. (SOFR + 0.34%) (Australia)(b)(c)(d) 5.80% 01/08/2025     50,000   50,000,000
Australia & New Zealand Banking Group Ltd. (Australia)(b)(c) 5.41% 06/26/2025     50,000   47,876,750
Bank of Montreal (Canada)(c) 5.50% 06/11/2025     25,000   23,976,090
Bank of Montreal (SOFR + 0.35%) (Canada)(c)(d) 5.76% 06/25/2025     75,000   75,000,000
Barclays Bank PLC (SOFR + 0.25%)(b)(c)(d) 5.58% 10/11/2024     50,000   50,000,000
Barclays Bank PLC(b)(c) 5.40% 10/23/2024      4,500    4,465,355
Barclays Bank PLC (SOFR + 0.25%)(b)(c)(d) 5.71% 11/19/2024     50,000   50,000,000
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)
Table of Contents
Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
Diversified Banks-(continued)
Barclays Bank PLC(b)(c) 5.08% 01/02/2025 $     30,000 $   29,489,550
Barclays Bank PLC (SOFR + 0.21%)(b)(c)(d) 5.65% 01/15/2025     50,000   50,000,000
Barclays Bank PLC(b)(c) 5.08% 02/04/2025     45,000   44,034,750
Canadian Imperial Bank of Commerce (Canada)(b)(c) 5.34% 09/03/2024    100,000   99,970,389
Citigroup Global Markets, Inc.(b) 5.55%-5.56% 01/23/2025    100,000   97,868,000
Citigroup Global Markets, Inc.(b) 5.63% 04/30/2025     50,000   48,215,931
Commonwealth Bank of Australia (SOFR + 0.55%) (Australia)(b)(c)(d) 5.98% 10/10/2024     45,000   45,000,000
Commonwealth Bank of Australia (Australia)(b)(c) 5.95% 10/16/2024     50,000   49,648,750
Commonwealth Bank of Australia (SOFR + 0.35%) (Australia)(b)(c)(d) 5.72% 01/03/2025    100,000  100,000,000
Dexia S.A.(b)(c) 5.34% 10/01/2024     85,000   84,624,583
DNB Bank ASA (Norway)(b)(c) 5.94% 09/18/2024     45,000   44,881,000
DNB Bank ASA (Norway)(b)(c) 5.25% 09/24/2024     26,700   26,613,855
DNB Bank ASA (Norway)(b)(c) 5.97% 10/01/2024     50,000   49,765,417
DNB Bank ASA (Norway)(b)(c) 5.46% 11/22/2024     73,500   72,610,180
ING (US) Funding LLC (SOFR + 0.30%)(b)(c)(d) 5.68% 02/10/2025     35,000   34,998,948
ING (US) Funding LLC(b)(c) 5.21% 04/17/2025     50,000   48,413,500
National Australia Bank Ltd. (SOFR + 0.25%) (Australia)(b)(c)(d) 5.63% 03/17/2025     50,000   49,999,897
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.18%) (Singapore)(b)(c)(d) 5.61% 12/04/2024     40,000   39,998,932
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.21%) (Singapore)(b)(c)(d) 5.66% 01/10/2025     50,000   50,000,000
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.65% 01/14/2025     55,000   55,000,000
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.65% 02/18/2025     27,000   26,999,947
Royal Bank of Canada (SOFR + 0.55%) (Canada)(b)(c)(d) 6.02% 09/23/2024    100,000  100,000,000
Royal Bank of Canada (SOFR + 0.35%) (Canada)(b)(c)(d) 5.76% 07/29/2025     25,000   25,000,000
Svenska Handelsbanken AB (SOFR + 0.21%) (Sweden)(b)(c)(d) 5.67% 01/03/2025     35,000   34,999,962
Svenska Handelsbanken AB (SOFR + 0.21%) (Sweden)(b)(c)(d) 5.68% 02/24/2025     74,000   74,000,000
Toronto-Dominion Bank (The) (Canada)(b)(c) 5.19% 12/02/2024     50,000   49,367,500
United Overseas Bank Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.66% 01/22/2025     50,000   50,000,000
United Overseas Bank Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.64% 01/23/2025     50,000   50,000,000
United Overseas Bank Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.66% 02/20/2025     60,000   60,000,000
Westpac Banking Corp. (Australia)(b)(c) 5.93% 09/05/2024     30,000   29,981,333
Westpac Banking Corp. (Australia)(b)(c) 5.41% 09/11/2024      3,950    3,944,295
Westpac Banking Corp. (SOFR + 0.55%) (Australia)(b)(c)(d) 5.98% 10/08/2024    100,000  100,000,000
2,076,684,115
Diversified Capital Markets-3.34%
BofA Securities, Inc. (SOFR + 0.49%)(d) 5.97% 11/29/2024     25,000   25,000,000
BofA Securities, Inc. (SOFR + 0.40%)(d) 5.83% 08/22/2025     25,000   25,000,000
UBS AG(b)(c) 5.41% 10/02/2024     30,000   29,865,666
UBS AG (SOFR + 0.25%)(b)(c)(d) 5.71% 11/22/2024     30,000   30,000,000
UBS AG(b)(c) 5.50% 02/18/2025     75,000   73,130,000
UBS AG (SOFR + 0.31%)(b)(c)(d) 5.77% 02/24/2025     75,000   75,000,000
257,995,666
Specialized Finance-0.97%
Caisse d'Amortissement de la Dette Sociale (France)(b)(c) 5.41% 09/23/2024     50,000   49,837,750
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)
Table of Contents
Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
Specialized Finance-(continued)
CDP Financial, Inc. (SOFR + 0.34%) (Canada)(b)(c)(d) 5.80% 01/09/2025 $     25,000 $   25,000,000
74,837,750
Total Commercial Paper (Cost $3,419,468,264) 3,419,468,264
Certificates of Deposit-19.28%
Australia & New Zealand Banking Group Ltd.(c) 5.32% 09/03/2024    100,000  100,000,000
Bank of America N.A. (SOFR + 0.35%)(d) 5.69% 01/07/2025     50,000   50,000,000
Bank of America N.A. 5.50% 05/23/2025     80,000   80,000,000
Bank of America N.A. (SOFR + 0.38%)(d) 5.71% 07/03/2025     50,000   50,000,000
Cooperatieve Rabobank U.A.(c) 5.31% 09/03/2024    150,000  150,000,000
Cooperatieve Rabobank U.A.(c) 5.56% 12/04/2024     22,000   22,003,218
Credit Agricole Corporate & Investment Bank(c) 5.31% 09/03/2024    250,000  250,000,000
DZ Bank AG(c) 5.15% 04/29/2025     50,000   50,021,544
Korea Development Bank (The) (SOFR + 0.27%) (South Korea)(c)(d) 5.60% 03/13/2025     20,000   20,000,998
Mizuho Bank Ltd.(c) 5.32% 09/03/2024    245,000  245,000,000
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.21%) (Singapore)(c)(d) 5.54% 01/03/2025     40,000   40,000,000
Royal Bank of Canada(c) 5.93% 09/16/2024     25,000   25,000,000
Sumitomo Mitsui Trust Bank Ltd.(c) 5.31% 09/03/2024    150,000  150,000,000
Svenska Handelsbanken AB(c) 5.31% 09/03/2024     75,000   75,000,000
Svenska Handelsbanken AB (SOFR + 0.25%) (Sweden)(c)(d) 5.58% 02/28/2025     30,000   29,999,934
Swedbank AB(c) 5.39% 12/02/2024     50,000   50,000,000
Toronto-Dominion Bank (The)(c) 6.00% 09/09/2024     30,000   30,000,000
Toronto-Dominion Bank (The)(c) 6.00% 09/20/2024      8,719    8,720,164
Toronto-Dominion Bank (The)(c) 5.42% 04/08/2025     20,000   20,000,000
Toronto-Dominion Bank (The)(c) 5.48% 05/21/2025     20,000   20,000,000
Toronto-Dominion Bank (The)(c) 5.07% 07/25/2025     25,000   25,000,000
Total Certificates of Deposit (Cost $1,490,745,858) 1,490,745,858
Variable Rate Demand Notes-2.16%(e)
Credit Enhanced-2.16%
Altoona-Blair County Development Corp.; Series 2015, VRD Bonds (LOC - PNC Bank, N.A.)(b)(f) 5.39% 09/11/2024     17,850   17,850,000
Board of Regents of the University of Texas System; Subseries 2016 G-1, VRD RB 5.30% 08/01/2045     90,240   90,240,000
Jets Stadium Development LLC; Series 2014 A-4B, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)(b)(c)(f) 5.92% 09/11/2024     12,700   12,700,000
Jets Stadium Development LLC; Series 2014 A-4C, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)(b)(c)(f) 5.92% 09/11/2024     27,700   27,700,000
Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank, N.A.)(f) 5.38% 09/12/2024     14,060   14,060,000
Ziegler Realty LLC; Series 2007, VRD Notes (LOC - Wells Fargo Bank, N.A.)(b)(f) 5.36% 01/01/2033      4,100    4,100,000
Total Variable Rate Demand Notes (Cost $166,650,000) 166,650,000
U.S. Dollar Denominated Bonds & Notes-0.15%
Diversified Banks-0.15%
Royal Bank of Canada (Canada)(c)(Cost $11,784,339) 4.95% 04/25/2025     11,812   11,784,339
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-65.81%
(Cost $5,088,648,461) 		5,088,648,461
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)
Table of Contents
Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Repurchase
Amount 		Value
Repurchase Agreements-34.30%(g)
BMO Capital Markets Corp., joint term agreement dated 08/28/2024, aggregate maturing value of $125,132,465 (collateralized by agency and non-agency asset-backed securities, agency and non-agency mortgage-backed securities, corporate obligations, U.S. government sponsored agency obligations, U.S. Treasury obligations valued at $134,989,623; 0.00% - 12.96%; 10/25/2024 - 06/20/2074)(c)(h) 5.45% 09/04/2024 $ 60,063,583 $   60,000,000
BMO Capital Markets Corp., joint term agreement dated 08/28/2024, aggregate maturing value of $475,500,597 (collateralized by agency and non-agency asset-backed securities, agency and non-agency mortgage-backed securities, corporate obligations, U.S. government sponsored agency obligations, U.S. Treasury obligations valued at $493,050,532; 0.00% - 9.91%; 09/10/2024 - 06/20/2074)(c)(h) 5.42% 09/04/2024 120,126,467  120,000,000
BNP Paribas Securities Corp., term agreement dated 08/27/2024, maturing value of $20,021,000 (collateralized by agency mortgage-backed securities, corporate obligations and a non-agency asset-backed security valued at $20,943,618; 2.29% - 5.95%; 06/06/2025 - 04/05/2054)(c)(h) 5.40% 09/03/2024  20,021,000   20,000,000
BNP Paribas Securities Corp., term agreement dated 08/28/2024, maturing value of $110,115,500 (collateralized by non-agency asset-backed securities, agency and non-agency mortgage-backed securities and corporate obligations valued at $114,513,083; 0.33% - 9.95%; 08/15/2025 - 06/25/2069)(c)(h) 5.40% 09/04/2024 110,115,500  110,000,000
BNP Paribas Securities Corp., term agreement dated 08/28/2024, maturing value of $140,148,633 (collateralized by non-agency asset-backed securities and non-agency mortgage-backed securities valued at $154,019,189; 4.71% - 15.49%; 12/21/2026 - 05/25/2065)(c)(h) 5.46% 09/04/2024 140,148,633  140,000,000
Credit Agricole Corporate & Investment Bank, joint open agreement dated 07/17/2024 (collateralized by commercial paper, corporate obligations, non-agency asset-backed securities, non-agency mortgage-backed securities and a U.S. Treasury obligation valued at $157,096,330; 0.00% - 11.00%; 09/24/2024 - 05/24/2061)(c)(i) 5.45% 09/03/2024  30,149,500   30,000,000
ING Financial Markets, LLC, joint agreement dated 08/30/2024, aggregate maturing value of $450,269,500 (collateralized by equity securities valued at $472,500,054; 0.00%)(c) 5.39% 09/03/2024 120,071,867  120,000,000
J.P. Morgan Securities LLC, open agreement dated 07/17/2024 (collateralized by commercial paper, corporate obligations and non-agency asset-backed securities valued at $184,631,041; 0.00% - 9.50%; 10/03/2024 - 11/30/2063)(i) 5.62% 09/03/2024 175,901,931  175,000,000
Mizuho Securities (USA) LLC, joint open agreement dated 06/20/2024 (collateralized by equity securities valued at $294,000,033; 0.00%)(c)(i) 5.47% 09/03/2024 140,085,089  140,000,000
RBC Capital Markets LLC, joint term agreement dated 08/27/2024, aggregate maturing value of $150,160,417 (collateralized by agency mortgage-backed securities, commercial paper, corporate obligations and a non-agency mortgage-backed security valued at $164,938,678; 0.00% - 14.00%; 09/20/2024 - 01/15/2077)(c)(h) 5.50% 09/03/2024  30,032,083   30,000,000
Societe Generale, open agreement dated 07/17/2024 (collateralized by commercial paper, corporate obligations, non-agency asset-backed securities and non-agency mortgage-backed securities valued at $86,940,244; 2.50% - 11.00%; 10/01/2024 - 10/15/2048)(c)(i) 5.50% 09/03/2024  80,048,889   80,000,000
Standard Chartered Bank, joint agreement dated 08/30/2024, aggregate maturing value of $2,001,180,000 (collateralized by U.S. Treasury obligations valued at $2,041,203,675; 0.00% - 6.25%; 09/05/2024 - 08/15/2054) 5.31% 09/03/2024 655,794,443  655,407,752
Sumitomo Mitsui Banking Corp., joint agreement dated 08/30/2024, aggregate maturing value of $5,002,961,111 (collateralized by agency mortgage-backed securities valued at $5,138,746,291; 3.00% - 6.50%; 10/20/2042 - 06/20/2054) 5.33% 09/03/2024 862,353,810  861,843,407
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)
Table of Contents
Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Repurchase
Amount 		Value
TD Securities (USA) LLC, joint term agreement dated 08/28/2024, aggregate maturing value of $450,473,375 (collateralized by corporate obligations valued at $472,508,170; 2.00% - 7.34%; 01/16/2025 - 06/15/2051)(c)(h) 5.41% 09/04/2024 $110,115,714 $  110,000,000
Total Repurchase Agreements (Cost $2,652,251,159) 2,652,251,159
TOTAL INVESTMENTS IN SECURITIES(j)(k)-100.11% (Cost $7,740,899,620) 7,740,899,620
OTHER ASSETS LESS LIABILITIES-(0.11)% (8,472,441)
NET ASSETS-100.00% $7,732,427,179
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
Notes to Schedule of Investments:
(a) Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.
(b) 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, 2024 was $3,008,175,230, which represented 38.90% of the Fund's Net Assets.
(c) 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: 16.3%; France: 13.4%; Australia: 8.1%; Japan: 7.6%; Netherlands: 5.1%; other countries less than 5% each:19.7%.
(d) Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2024.
(e) 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, 2024.
(f) Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.
(g) Principal amount equals value at period end. See Note 1I.
(h) The Fund may demand payment of the term repurchase agreement upon one to seven business days' notice depending on the timing of the demand.
(i) 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.
(j) Also represents cost for federal income tax purposes.
(k) 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.
6 AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
Table of Contents
Statement of Assets and Liabilities
August 31, 2024
Invesco Premier
Portfolio
Assets:
Investments in unaffiliated securities, at value $5,088,648,461
Repurchase agreements, at value and cost 2,652,251,159
Cash 12,222
Receivable for:
Fund shares sold 12,798,161
Interest 20,815,172
Investment for trustee deferred compensation and retirement plans 684,604
Total assets 7,775,209,779
Liabilities:
Payable for:
Fund shares reacquired 7,111,595
Dividends 33,815,706
Accrued fees to affiliates 1,167,726
Accrued operating expenses 2,969
Trustee deferred compensation and retirement plans 684,604
Total liabilities 42,782,600
Net assets applicable to shares outstanding $7,732,427,179
Net assets consist of:
Shares of beneficial interest $7,732,302,064
Distributable earnings (loss) 125,115
$7,732,427,179
Net Assets:
Institutional Class $7,565,591,241
Investor Class $152,476,697
Personal Investment Class $13,631,836
Private Investment Class $26,439
Reserve Class $11,135
Resource Class $689,831
Shares outstanding, no par value,
unlimited number of shares authorized:
Institutional Class 7,565,156,713
Investor Class 152,459,345
Personal Investment Class 13,631,219
Private Investment Class 26,436
Reserve Class 11,134
Resource Class 689,753
Net asset value, offering and redemption price per share for each class $1.00
Cost of Investments $7,740,899,620
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)
Table of Contents
Statement of Operations
For the year ended August 31, 2024
Invesco Premier
Portfolio
Investment income:
Interest $357,952,683
Expenses:
Advisory fees 16,066,050
Distribution fees:
Personal Investment Class 53,321
Private Investment Class 77
Reserve Class 95
Resource Class 1,078
Professional services fees 5,431
Total expenses 16,126,052
Less: Fees waived (4,498,492)
Net expenses 11,627,560
Net investment income 346,325,123
Net realized gain from unaffiliated investment securities 20,533
Net increase in net assets resulting from operations $346,345,656
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)
Table of Contents
Statement of Changes in Net Assets
For the years ended August 31, 2024 and 2023
Invesco Premier Portfolio
2024 2023
Operations:
Net investment income $346,325,123 $155,276,607
Net realized gain (loss) 20,533 (985)
Net increase in net assets resulting from operations 346,345,656 155,275,622
Distributions to shareholders from distributable earnings:
Institutional Class (337,282,614) (150,314,419)
Investor Class (8,535,442) (4,607,779)
Personal Investment Class (469,960) (297,098)
Private Investment Class (1,317) (1,014)
Reserve Class (494) (371)
Resource Class (35,296) (55,926)
Total distributions from distributable earnings (346,325,123) (155,276,607)
Share transactions-net:
Institutional Class 2,790,848,017 3,032,288,022
Investor Class (5,997,098) 115,463,526
Personal Investment Class 6,526,699 (553,384)
Private Investment Class 1,313 945
Reserve Class 494 343
Resource Class 35,168 (2,191,285)
Net increase in net assets resulting from share transactions 2,791,414,593 3,145,008,167
Net increase in net assets 2,791,435,126 3,145,007,182
Net assets:
Beginning of year 4,940,992,053 1,795,984,871
End of year $7,732,427,179 $4,940,992,053
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
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Financial Highlights
The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.
Private Investment Class
Net asset
value,
beginning
of period 		Net
investment
income(a) 		Net gains
on securities
(realized) 		Total from
investment
operations 		Dividends
from net
investment
income 		Net asset
value, end
of period 		Total
return(b) 		Net assets,
end of period
(000's omitted) 		Ratio of
expenses
to average
net assets
with fee waivers
and/or expense
reimbursements 		Ratio of
expenses
to average net
assets without
fee waivers
and/or expense
reimbursements 		Ratio of net
investment
income
to average
net assets
Invesco Premier Portfolio
Year ended 08/31/24 $1.00 $0.05 $0.00 $0.05 $(0.05) $1.00 5.23% $26 0.48% 0.55% 5.09%
Year ended 08/31/23 1.00 0.04 (0.00) 0.04 (0.04) 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) 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) 1.00 0.01 162 0.25 0.55 0.00
Year ended 08/31/20 1.00 0.01 0.00 0.01 (0.01) 1.00 0.93 362 0.47 0.55 0.93
(a) Calculated using average shares outstanding.
(b) 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.
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Notes to Financial Statements
August 31, 2024
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 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
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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. 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.
J. 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 Deutschland GmbH, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Inc., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and separate sub-advisory agreements with Invesco Capital Management LLC and Invesco Asset Management (India) Private Limited (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, 2024, to waive advisory fees equal to 0.07% of the average daily net assets of the Fund.
For the year ended August 31, 2024, the Adviser waived advisory fees and/or reimbursed Fund expenses in the following amounts:
Invesco Premier Portfolio $4,498,492
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 Mellon") 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 Mellon also serves as the Fund's custodian.
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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, 2024, 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. When significant events due to market movements occur, foreign securities may be fair valued utilizing an independent pricing service.
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, 2024, 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-Security Transactions with Affiliated Funds
The Fund is permitted to purchase securities from or sell securities to certain other affiliated funds under specified conditions outlined in procedures adopted by the Board of Trustees of the Trust. The procedures have been designed to ensure that any purchase or sale of securities by the Fund from or to another fund that is or could be considered an "affiliated person" by virtue of having a common investment adviser (or affiliated investment advisers), common Trustees and/or common officers is made in reliance on Rule 17a-7 of the 1940 Act and, to the extent applicable, related SEC staff positions. Each such transaction is effected at the security's "current market price", as provided for in these procedures and Rule 17a-7. Pursuant to these procedures, for the year ended August 31, 2024, the Fund engaged in securities purchases of $106,706,671 and securities sales of $6,911,178, which did not result in any net realized gains (losses).
NOTE 5-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 6-Cash Balances
The Fund is permitted to temporarily overdraft or leave balances in its account with BNY Mellon, 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 Mellon or the Fund for such activity, the Fund may either (1) pay to or receive from BNY Mellon compensation at a rate agreed upon by BNY Mellon 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 Mellon or the Fund can be compensated for use of funds.
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NOTE 7-Distributions to Shareholders and Tax Components of Net Assets
Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2024 and 2023:
2024 2023
Ordinary
Income* 		Ordinary
Income*
Invesco Premier Portfolio $346,325,123 $155,276,607
* Includes short-term capital gain distributions, if any.
Tax Components of Net Assets at Period-End:
Undistributed
Ordinary
Income 		Shares of
Beneficial
Interest 		Total
Net Assets
Invesco Premier Portfolio $125,115 $7,732,302,064 $7,732,427,179
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, 2024.
NOTE 8-Reclassification of Permanent Differences
Primarily as a result of differing book/tax treatment of distributions and equalization and equalization payment, on August 31, 2024, 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.
Undistributed Net
Investment Income 		Undistributed Net
Realized Gain (Loss) 		Shares of
Beneficial Interest
Invesco Premier Portfolio $19,548 $(19,547) $(1)
NOTE 9-Share Information
Invesco Premier Portfolio
Summary of Share Activity
Years ended August 31,
2024(a) 2023
Shares Amount Shares Amount
Sold:
Institutional Class 9,739,077,117 $9,739,077,117 6,728,848,110 $6,728,848,110
Investor Class 336,725,771 336,725,771 256,914,518 256,914,518
Personal Investment Class 24,100,174 24,100,174 24,193,923 24,193,923
Issued as reinvestment of dividends:
Institutional Class 299,321,339 299,321,339 124,770,193 124,770,193
Investor Class 8,507,286 8,507,286 3,726,275 3,726,275
Personal Investment Class 442,533 442,533 280,128 280,128
Private Investment Class 1,313 1,313 945 945
Reserve Class 494 494 343 343
Resource Class 35,168 35,168 55,926 55,926
Reacquired:
Institutional Class (7,247,550,439) (7,247,550,439) (3,821,330,281) (3,821,330,281)
Investor Class (351,230,155) (351,230,155) (145,177,267) (145,177,267)
Personal Investment Class (18,016,008) (18,016,008) (25,027,435) (25,027,435)
Resource Class - - (2,247,211) (2,247,211)
Net increase in share activity 2,791,414,593 $2,791,414,593 3,145,008,167 $3,145,008,167
(a) There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 56% 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.
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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, 2024, the related statement of operations for the year ended August 31, 2024, the statement of changes in net assets for each of the two years in the period ended August 31, 2024, 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, 2024 (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, 2024, 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, 2024 and the financial highlights of the Private Investment Class for each of the five years in the period ended August 31, 2024 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, 2024 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 23, 2024
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.
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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 12, 2024, 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 separate sub-advisory contracts with Invesco Capital Management LLC and Invesco Asset Management (India) Private Limited (collectively, the Affiliated Sub-Advisers and the sub-advisory contracts) for another year, effective July 1, 2024. 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.
The Board's Evaluation Process
The Board has established an Investments Committee, which in turn has established Sub-Committees, that meet throughout the year to review the performance of funds advised by Invesco Advisers (the Invesco Funds). The Sub-Committees meet regularly with portfolio managers for their assigned Invesco Funds and other members of management to review information about investment performance and portfolio attributes of these funds. The Board has established additional standing and ad hoc committees that meet regularly throughout the year to review matters within their purview, including a working group focused on opportunities to make ongoing and continuous improvements to the annual review process for the Invesco Funds' investment advisory 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, in considering whether to approve each Invesco Fund's investment advisory agreement and sub-advisory contracts.
As part of the contract renewal 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 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 mutual fund data provider, as well as information on the composition of the peer groups provided by Broadridge 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 contract renewal 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 7, 2024 and June 12, 2024, 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. Also, as part of the contract renewal process, the independent Trustees reviewed and considered information provided in response to follow-up requests for information submitted by the independent Trustees to management. The independent Trustees met and discussed those follow-up responses with legal counsel to the independent Trustees and the Senior Officer.
The discussion below is a summary of 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 in prior years 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. The information received and considered by the
Board was current as of various dates prior to the Board's approval on June 12, 2024.
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 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 observed that Invesco Advisers' systems preparedness and ongoing investment enabled Invesco Advisers 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 are appropriate and satisfactory.
INVESCO PREMIER PORTFOLIO
The Board reviewed the services that may be provided to the Fund by the Affiliated
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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 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 are appropriate and satisfactory.
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 are appropriate and satisfactory.
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, 2023 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 and the fifth quintile being the worst performing funds). The Board noted that performance of Investor Class shares of the Fund was reasonably comparable to 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, 2023 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 and the fifth quintile being the worst performing funds). The Board noted that performance of Investor Class shares of the Fund was reasonably comparable to 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 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 below 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 effective advisory fee rate (defined for this purpose as the advisory fee rate before the application of advisory fee waivers/expense limitations) to the effective advisory fee rates of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2023.
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 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 the same as the median contractual management and actual management fee rates of funds in its expense
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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 effective advisory fee rate (defined for this purpose as the advisory fee rate before the application of advisory fee waivers/expense limitations) to the effective advisory fee rates of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2023.
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
difficulty 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' 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.
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 determination that the services are required for the operation of each Fund.
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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, 2024:
Federal and State Income Tax
Business Interest
Income* 		Qualified Business
Income* 		Qualified Dividend
Income* 		Corporate
Dividends
Received
Deduction* 		U.S Treasury
Obligations*
Invesco Premier Portfolio 99.99% 0.00% 0.00% 0.00% 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
Short-Term Gains 		Qualified
Interest Income**
Invesco Premier Portfolio $19,548 0.00%
** The above percentages are based on income dividends paid to shareholders during the Fund's fiscal year.
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Other Information Required in Form N-CSR (Items 8-11)
Changes in and Disagreements with Accountants for Open-End Management Investment Companies
Not applicable.
Proxy Disclosures for Open-End Management Investment Companies
Not applicable.
Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies
The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.
Statement Regarding Basis for Approval of Investment Advisory Contracts
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.
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SEC file numbers: 811-05460 and 033-19862 Invesco Distributors, Inc. CM-I-TST-NCSR-PRV


Annual Financial Statements and Other Information August 31, 2024
Reserve Class
AIM Treasurer's Series Trust
(Invesco Treasurer's Series Trust)
Invesco Premier Portfolio
2 Schedule of Investments
7 Financial Statements
10 Financial Highlights
11 Notes to Financial Statements
15 Report of Independent Registered Public Accounting Firm
16 Approval of Investment Advisory and Sub-Advisory Contracts
19 Tax Information
20 Other Information Required in Form N-CSR (Items 8-11)
Table of Contents
Schedule of Investments
August 31, 2024
Invesco Premier Portfolio
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
Commercial Paper-44.22%(a)
Asset-Backed Securities - Consumer Receivables-0.44%
Old Line Funding LLC (CEP - Royal Bank of Canada)(b)(c) 5.00% 02/03/2025 $     10,000 $    9,789,889
Thunder Bay Funding LLC (CEP - Royal Bank of Canada)(b)(c) 5.76% 11/22/2024     25,000   24,689,653
34,479,542
Asset-Backed Securities - Fully Supported-8.25%
Anglesea Funding PLC (Multi - CEP's), (1 mo. OBFR + 0.14%)(b)(c)(d) 5.59% 11/21/2024     40,000   40,000,000
Anglesea Funding PLC (Multi - CEP's), (1 mo. OBFR + 0.14%)(b)(c)(d) 5.55% 12/03/2024     80,000   80,000,000
Aquitaine Funding Co. LLC (CEP - Societe Generale S.A.)(b)(c) 5.42% 11/01/2024     50,000   49,547,584
Bennington Stark Capital Co. LLC (CEP - Societe Generale S.A.), (SOFR + 0.20%)(b)(c)(d) 5.54% 10/28/2024     90,000   90,000,000
Great Bear Funding LLC (CEP - Bank of Nova Scotia), (1 mo. OBFR + 0.23%)(c)(d) 5.66% 01/15/2025     50,000   50,000,000
Great Bear Funding LLC (CEP - Bank of Nova Scotia), (1 mo. OBFR + 0.23%)(c)(d) 5.66% 01/15/2025     60,000   60,000,000
Great Bear Funding LLC (CEP - Bank of Nova Scotia), (1 mo. OBFR + 0.30%)(c)(d) 5.69% 03/28/2025     50,000   50,000,000
Longship Funding LLC (CEP - Nordea Bank AB)(b)(c) 5.34% 09/05/2024    100,000   99,940,778
Mountcliff Funding LLC (Multi - CEP's)(b)(c) 5.40% 10/23/2024     20,000   19,846,022
Mountcliff Funding LLC (Multi - CEP's)(b)(c) 5.38% 10/31/2024     50,000   49,557,500
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)(b)(c) 5.52% 11/14/2024     50,000   49,448,083
638,339,967
Asset-Backed Securities - Fully Supported Bank-3.72%
Cabot Trail Funding LLC (CEP - Toronto-Dominion Bank)(b)(c) 5.39% 12/20/2024     50,000   49,193,333
Collateralized Commercial Paper V Co. LLC (CEP - JPMorgan Securities LLC), (SOFR + 0.32%)(d) 5.72% 04/11/2025     50,000   50,000,000
Collateralized Commercial Paper V Co. LLC (CEP - JPMorgan Securities LLC), (SOFR + 0.32%)(d) 5.72% 04/17/2025     50,000   50,000,000
Collateralized Commercial Paper V Co. LLC (CEP - JPMorgan Securities LLC), (SOFR + 0.30%)(d) 5.69% 05/23/2025     15,000   15,000,000
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.48% 10/03/2024     41,225   41,027,853
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.41% 10/17/2024      5,336    5,299,523
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.42% 10/23/2024     14,700   14,586,402
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.40% 10/25/2024     37,585   37,284,508
Mont Blanc Capital Corp. (CEP - ING Bank N.V.)(b)(c) 5.48% 09/17/2024     18,170   18,126,553
Sheffield Receivables Co. LLC (CEP - Barclays Bank PLC)(b) 5.40% 10/23/2024      7,000    6,946,108
287,464,280
Consumer Finance-0.64%
Toyota Finance Australia Ltd. (Australia)(c) 5.56% 10/15/2024     50,000   49,666,944
Diversified Banks-26.86%
Australia & New Zealand Banking Group Ltd. (Australia)(b)(c) 5.36% 09/18/2024     25,000   24,939,201
Australia & New Zealand Banking Group Ltd. (SOFR + 0.20%) (Australia)(b)(c)(d) 5.65% 10/30/2024     25,000   25,000,000
Australia & New Zealand Banking Group Ltd. (SOFR + 0.34%) (Australia)(b)(c)(d) 5.80% 01/08/2025     50,000   50,000,000
Australia & New Zealand Banking Group Ltd. (Australia)(b)(c) 5.41% 06/26/2025     50,000   47,876,750
Bank of Montreal (Canada)(c) 5.50% 06/11/2025     25,000   23,976,090
Bank of Montreal (SOFR + 0.35%) (Canada)(c)(d) 5.76% 06/25/2025     75,000   75,000,000
Barclays Bank PLC (SOFR + 0.25%)(b)(c)(d) 5.58% 10/11/2024     50,000   50,000,000
Barclays Bank PLC(b)(c) 5.40% 10/23/2024      4,500    4,465,355
Barclays Bank PLC (SOFR + 0.25%)(b)(c)(d) 5.71% 11/19/2024     50,000   50,000,000
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
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Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
Diversified Banks-(continued)
Barclays Bank PLC(b)(c) 5.08% 01/02/2025 $     30,000 $   29,489,550
Barclays Bank PLC (SOFR + 0.21%)(b)(c)(d) 5.65% 01/15/2025     50,000   50,000,000
Barclays Bank PLC(b)(c) 5.08% 02/04/2025     45,000   44,034,750
Canadian Imperial Bank of Commerce (Canada)(b)(c) 5.34% 09/03/2024    100,000   99,970,389
Citigroup Global Markets, Inc.(b) 5.55%-5.56% 01/23/2025    100,000   97,868,000
Citigroup Global Markets, Inc.(b) 5.63% 04/30/2025     50,000   48,215,931
Commonwealth Bank of Australia (SOFR + 0.55%) (Australia)(b)(c)(d) 5.98% 10/10/2024     45,000   45,000,000
Commonwealth Bank of Australia (Australia)(b)(c) 5.95% 10/16/2024     50,000   49,648,750
Commonwealth Bank of Australia (SOFR + 0.35%) (Australia)(b)(c)(d) 5.72% 01/03/2025    100,000  100,000,000
Dexia S.A.(b)(c) 5.34% 10/01/2024     85,000   84,624,583
DNB Bank ASA (Norway)(b)(c) 5.94% 09/18/2024     45,000   44,881,000
DNB Bank ASA (Norway)(b)(c) 5.25% 09/24/2024     26,700   26,613,855
DNB Bank ASA (Norway)(b)(c) 5.97% 10/01/2024     50,000   49,765,417
DNB Bank ASA (Norway)(b)(c) 5.46% 11/22/2024     73,500   72,610,180
ING (US) Funding LLC (SOFR + 0.30%)(b)(c)(d) 5.68% 02/10/2025     35,000   34,998,948
ING (US) Funding LLC(b)(c) 5.21% 04/17/2025     50,000   48,413,500
National Australia Bank Ltd. (SOFR + 0.25%) (Australia)(b)(c)(d) 5.63% 03/17/2025     50,000   49,999,897
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.18%) (Singapore)(b)(c)(d) 5.61% 12/04/2024     40,000   39,998,932
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.21%) (Singapore)(b)(c)(d) 5.66% 01/10/2025     50,000   50,000,000
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.65% 01/14/2025     55,000   55,000,000
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.65% 02/18/2025     27,000   26,999,947
Royal Bank of Canada (SOFR + 0.55%) (Canada)(b)(c)(d) 6.02% 09/23/2024    100,000  100,000,000
Royal Bank of Canada (SOFR + 0.35%) (Canada)(b)(c)(d) 5.76% 07/29/2025     25,000   25,000,000
Svenska Handelsbanken AB (SOFR + 0.21%) (Sweden)(b)(c)(d) 5.67% 01/03/2025     35,000   34,999,962
Svenska Handelsbanken AB (SOFR + 0.21%) (Sweden)(b)(c)(d) 5.68% 02/24/2025     74,000   74,000,000
Toronto-Dominion Bank (The) (Canada)(b)(c) 5.19% 12/02/2024     50,000   49,367,500
United Overseas Bank Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.66% 01/22/2025     50,000   50,000,000
United Overseas Bank Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.64% 01/23/2025     50,000   50,000,000
United Overseas Bank Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.66% 02/20/2025     60,000   60,000,000
Westpac Banking Corp. (Australia)(b)(c) 5.93% 09/05/2024     30,000   29,981,333
Westpac Banking Corp. (Australia)(b)(c) 5.41% 09/11/2024      3,950    3,944,295
Westpac Banking Corp. (SOFR + 0.55%) (Australia)(b)(c)(d) 5.98% 10/08/2024    100,000  100,000,000
2,076,684,115
Diversified Capital Markets-3.34%
BofA Securities, Inc. (SOFR + 0.49%)(d) 5.97% 11/29/2024     25,000   25,000,000
BofA Securities, Inc. (SOFR + 0.40%)(d) 5.83% 08/22/2025     25,000   25,000,000
UBS AG(b)(c) 5.41% 10/02/2024     30,000   29,865,666
UBS AG (SOFR + 0.25%)(b)(c)(d) 5.71% 11/22/2024     30,000   30,000,000
UBS AG(b)(c) 5.50% 02/18/2025     75,000   73,130,000
UBS AG (SOFR + 0.31%)(b)(c)(d) 5.77% 02/24/2025     75,000   75,000,000
257,995,666
Specialized Finance-0.97%
Caisse d'Amortissement de la Dette Sociale (France)(b)(c) 5.41% 09/23/2024     50,000   49,837,750
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)
Table of Contents
Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
Specialized Finance-(continued)
CDP Financial, Inc. (SOFR + 0.34%) (Canada)(b)(c)(d) 5.80% 01/09/2025 $     25,000 $   25,000,000
74,837,750
Total Commercial Paper (Cost $3,419,468,264) 3,419,468,264
Certificates of Deposit-19.28%
Australia & New Zealand Banking Group Ltd.(c) 5.32% 09/03/2024    100,000  100,000,000
Bank of America N.A. (SOFR + 0.35%)(d) 5.69% 01/07/2025     50,000   50,000,000
Bank of America N.A. 5.50% 05/23/2025     80,000   80,000,000
Bank of America N.A. (SOFR + 0.38%)(d) 5.71% 07/03/2025     50,000   50,000,000
Cooperatieve Rabobank U.A.(c) 5.31% 09/03/2024    150,000  150,000,000
Cooperatieve Rabobank U.A.(c) 5.56% 12/04/2024     22,000   22,003,218
Credit Agricole Corporate & Investment Bank(c) 5.31% 09/03/2024    250,000  250,000,000
DZ Bank AG(c) 5.15% 04/29/2025     50,000   50,021,544
Korea Development Bank (The) (SOFR + 0.27%) (South Korea)(c)(d) 5.60% 03/13/2025     20,000   20,000,998
Mizuho Bank Ltd.(c) 5.32% 09/03/2024    245,000  245,000,000
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.21%) (Singapore)(c)(d) 5.54% 01/03/2025     40,000   40,000,000
Royal Bank of Canada(c) 5.93% 09/16/2024     25,000   25,000,000
Sumitomo Mitsui Trust Bank Ltd.(c) 5.31% 09/03/2024    150,000  150,000,000
Svenska Handelsbanken AB(c) 5.31% 09/03/2024     75,000   75,000,000
Svenska Handelsbanken AB (SOFR + 0.25%) (Sweden)(c)(d) 5.58% 02/28/2025     30,000   29,999,934
Swedbank AB(c) 5.39% 12/02/2024     50,000   50,000,000
Toronto-Dominion Bank (The)(c) 6.00% 09/09/2024     30,000   30,000,000
Toronto-Dominion Bank (The)(c) 6.00% 09/20/2024      8,719    8,720,164
Toronto-Dominion Bank (The)(c) 5.42% 04/08/2025     20,000   20,000,000
Toronto-Dominion Bank (The)(c) 5.48% 05/21/2025     20,000   20,000,000
Toronto-Dominion Bank (The)(c) 5.07% 07/25/2025     25,000   25,000,000
Total Certificates of Deposit (Cost $1,490,745,858) 1,490,745,858
Variable Rate Demand Notes-2.16%(e)
Credit Enhanced-2.16%
Altoona-Blair County Development Corp.; Series 2015, VRD Bonds (LOC - PNC Bank, N.A.)(b)(f) 5.39% 09/11/2024     17,850   17,850,000
Board of Regents of the University of Texas System; Subseries 2016 G-1, VRD RB 5.30% 08/01/2045     90,240   90,240,000
Jets Stadium Development LLC; Series 2014 A-4B, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)(b)(c)(f) 5.92% 09/11/2024     12,700   12,700,000
Jets Stadium Development LLC; Series 2014 A-4C, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)(b)(c)(f) 5.92% 09/11/2024     27,700   27,700,000
Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank, N.A.)(f) 5.38% 09/12/2024     14,060   14,060,000
Ziegler Realty LLC; Series 2007, VRD Notes (LOC - Wells Fargo Bank, N.A.)(b)(f) 5.36% 01/01/2033      4,100    4,100,000
Total Variable Rate Demand Notes (Cost $166,650,000) 166,650,000
U.S. Dollar Denominated Bonds & Notes-0.15%
Diversified Banks-0.15%
Royal Bank of Canada (Canada)(c)(Cost $11,784,339) 4.95% 04/25/2025     11,812   11,784,339
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-65.81%
(Cost $5,088,648,461) 		5,088,648,461
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)
Table of Contents
Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Repurchase
Amount 		Value
Repurchase Agreements-34.30%(g)
BMO Capital Markets Corp., joint term agreement dated 08/28/2024, aggregate maturing value of $125,132,465 (collateralized by agency and non-agency asset-backed securities, agency and non-agency mortgage-backed securities, corporate obligations, U.S. government sponsored agency obligations, U.S. Treasury obligations valued at $134,989,623; 0.00% - 12.96%; 10/25/2024 - 06/20/2074)(c)(h) 5.45% 09/04/2024 $ 60,063,583 $   60,000,000
BMO Capital Markets Corp., joint term agreement dated 08/28/2024, aggregate maturing value of $475,500,597 (collateralized by agency and non-agency asset-backed securities, agency and non-agency mortgage-backed securities, corporate obligations, U.S. government sponsored agency obligations, U.S. Treasury obligations valued at $493,050,532; 0.00% - 9.91%; 09/10/2024 - 06/20/2074)(c)(h) 5.42% 09/04/2024 120,126,467  120,000,000
BNP Paribas Securities Corp., term agreement dated 08/27/2024, maturing value of $20,021,000 (collateralized by agency mortgage-backed securities, corporate obligations and a non-agency asset-backed security valued at $20,943,618; 2.29% - 5.95%; 06/06/2025 - 04/05/2054)(c)(h) 5.40% 09/03/2024  20,021,000   20,000,000
BNP Paribas Securities Corp., term agreement dated 08/28/2024, maturing value of $110,115,500 (collateralized by non-agency asset-backed securities, agency and non-agency mortgage-backed securities and corporate obligations valued at $114,513,083; 0.33% - 9.95%; 08/15/2025 - 06/25/2069)(c)(h) 5.40% 09/04/2024 110,115,500  110,000,000
BNP Paribas Securities Corp., term agreement dated 08/28/2024, maturing value of $140,148,633 (collateralized by non-agency asset-backed securities and non-agency mortgage-backed securities valued at $154,019,189; 4.71% - 15.49%; 12/21/2026 - 05/25/2065)(c)(h) 5.46% 09/04/2024 140,148,633  140,000,000
Credit Agricole Corporate & Investment Bank, joint open agreement dated 07/17/2024 (collateralized by commercial paper, corporate obligations, non-agency asset-backed securities, non-agency mortgage-backed securities and a U.S. Treasury obligation valued at $157,096,330; 0.00% - 11.00%; 09/24/2024 - 05/24/2061)(c)(i) 5.45% 09/03/2024  30,149,500   30,000,000
ING Financial Markets, LLC, joint agreement dated 08/30/2024, aggregate maturing value of $450,269,500 (collateralized by equity securities valued at $472,500,054; 0.00%)(c) 5.39% 09/03/2024 120,071,867  120,000,000
J.P. Morgan Securities LLC, open agreement dated 07/17/2024 (collateralized by commercial paper, corporate obligations and non-agency asset-backed securities valued at $184,631,041; 0.00% - 9.50%; 10/03/2024 - 11/30/2063)(i) 5.62% 09/03/2024 175,901,931  175,000,000
Mizuho Securities (USA) LLC, joint open agreement dated 06/20/2024 (collateralized by equity securities valued at $294,000,033; 0.00%)(c)(i) 5.47% 09/03/2024 140,085,089  140,000,000
RBC Capital Markets LLC, joint term agreement dated 08/27/2024, aggregate maturing value of $150,160,417 (collateralized by agency mortgage-backed securities, commercial paper, corporate obligations and a non-agency mortgage-backed security valued at $164,938,678; 0.00% - 14.00%; 09/20/2024 - 01/15/2077)(c)(h) 5.50% 09/03/2024  30,032,083   30,000,000
Societe Generale, open agreement dated 07/17/2024 (collateralized by commercial paper, corporate obligations, non-agency asset-backed securities and non-agency mortgage-backed securities valued at $86,940,244; 2.50% - 11.00%; 10/01/2024 - 10/15/2048)(c)(i) 5.50% 09/03/2024  80,048,889   80,000,000
Standard Chartered Bank, joint agreement dated 08/30/2024, aggregate maturing value of $2,001,180,000 (collateralized by U.S. Treasury obligations valued at $2,041,203,675; 0.00% - 6.25%; 09/05/2024 - 08/15/2054) 5.31% 09/03/2024 655,794,443  655,407,752
Sumitomo Mitsui Banking Corp., joint agreement dated 08/30/2024, aggregate maturing value of $5,002,961,111 (collateralized by agency mortgage-backed securities valued at $5,138,746,291; 3.00% - 6.50%; 10/20/2042 - 06/20/2054) 5.33% 09/03/2024 862,353,810  861,843,407
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)
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Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Repurchase
Amount 		Value
TD Securities (USA) LLC, joint term agreement dated 08/28/2024, aggregate maturing value of $450,473,375 (collateralized by corporate obligations valued at $472,508,170; 2.00% - 7.34%; 01/16/2025 - 06/15/2051)(c)(h) 5.41% 09/04/2024 $110,115,714 $  110,000,000
Total Repurchase Agreements (Cost $2,652,251,159) 2,652,251,159
TOTAL INVESTMENTS IN SECURITIES(j)(k)-100.11% (Cost $7,740,899,620) 7,740,899,620
OTHER ASSETS LESS LIABILITIES-(0.11)% (8,472,441)
NET ASSETS-100.00% $7,732,427,179
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
Notes to Schedule of Investments:
(a) Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.
(b) 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, 2024 was $3,008,175,230, which represented 38.90% of the Fund's Net Assets.
(c) 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: 16.3%; France: 13.4%; Australia: 8.1%; Japan: 7.6%; Netherlands: 5.1%; other countries less than 5% each:19.7%.
(d) Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2024.
(e) 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, 2024.
(f) Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.
(g) Principal amount equals value at period end. See Note 1I.
(h) The Fund may demand payment of the term repurchase agreement upon one to seven business days' notice depending on the timing of the demand.
(i) 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.
(j) Also represents cost for federal income tax purposes.
(k) 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.
6 AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
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Statement of Assets and Liabilities
August 31, 2024
Invesco Premier
Portfolio
Assets:
Investments in unaffiliated securities, at value $5,088,648,461
Repurchase agreements, at value and cost 2,652,251,159
Cash 12,222
Receivable for:
Fund shares sold 12,798,161
Interest 20,815,172
Investment for trustee deferred compensation and retirement plans 684,604
Total assets 7,775,209,779
Liabilities:
Payable for:
Fund shares reacquired 7,111,595
Dividends 33,815,706
Accrued fees to affiliates 1,167,726
Accrued operating expenses 2,969
Trustee deferred compensation and retirement plans 684,604
Total liabilities 42,782,600
Net assets applicable to shares outstanding $7,732,427,179
Net assets consist of:
Shares of beneficial interest $7,732,302,064
Distributable earnings (loss) 125,115
$7,732,427,179
Net Assets:
Institutional Class $7,565,591,241
Investor Class $152,476,697
Personal Investment Class $13,631,836
Private Investment Class $26,439
Reserve Class $11,135
Resource Class $689,831
Shares outstanding, no par value,
unlimited number of shares authorized:
Institutional Class 7,565,156,713
Investor Class 152,459,345
Personal Investment Class 13,631,219
Private Investment Class 26,436
Reserve Class 11,134
Resource Class 689,753
Net asset value, offering and redemption price per share for each class $1.00
Cost of Investments $7,740,899,620
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 Operations
For the year ended August 31, 2024
Invesco Premier
Portfolio
Investment income:
Interest $357,952,683
Expenses:
Advisory fees 16,066,050
Distribution fees:
Personal Investment Class 53,321
Private Investment Class 77
Reserve Class 95
Resource Class 1,078
Professional services fees 5,431
Total expenses 16,126,052
Less: Fees waived (4,498,492)
Net expenses 11,627,560
Net investment income 346,325,123
Net realized gain from unaffiliated investment securities 20,533
Net increase in net assets resulting from operations $346,345,656
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 Changes in Net Assets
For the years ended August 31, 2024 and 2023
Invesco Premier Portfolio
2024 2023
Operations:
Net investment income $346,325,123 $155,276,607
Net realized gain (loss) 20,533 (985)
Net increase in net assets resulting from operations 346,345,656 155,275,622
Distributions to shareholders from distributable earnings:
Institutional Class (337,282,614) (150,314,419)
Investor Class (8,535,442) (4,607,779)
Personal Investment Class (469,960) (297,098)
Private Investment Class (1,317) (1,014)
Reserve Class (494) (371)
Resource Class (35,296) (55,926)
Total distributions from distributable earnings (346,325,123) (155,276,607)
Share transactions-net:
Institutional Class 2,790,848,017 3,032,288,022
Investor Class (5,997,098) 115,463,526
Personal Investment Class 6,526,699 (553,384)
Private Investment Class 1,313 945
Reserve Class 494 343
Resource Class 35,168 (2,191,285)
Net increase in net assets resulting from share transactions 2,791,414,593 3,145,008,167
Net increase in net assets 2,791,435,126 3,145,007,182
Net assets:
Beginning of year 4,940,992,053 1,795,984,871
End of year $7,732,427,179 $4,940,992,053
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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Financial Highlights
The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.
Reserve Class
Net asset
value,
beginning
of period 		Net
investment
income(a) 		Net gains
on securities
(realized) 		Total from
investment
operations 		Dividends
from net
investment
income 		Net asset
value, end
of period 		Total
return(b) 		Net assets,
end of period
(000's omitted) 		Ratio of
expenses
to average
net assets
with fee waivers
and/or expense
reimbursements 		Ratio of
expenses
to average net
assets without
fee waivers
and/or expense
reimbursements 		Ratio of net
investment
income
to average
net assets
Invesco Premier Portfolio
Year ended 08/31/24 $1.00 $0.05 $0.00 $0.05 $(0.05) $1.00 4.64% $11 1.05% 1.12% 4.52%
Year ended 08/31/23 1.00 0.04 (0.00) 0.04 (0.04) 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) 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) 1.00 0.01 10 0.20 1.12 0.05
Year ended 08/31/20 1.00 0.01 0.00 0.01 (0.01) 1.00 0.54 10 0.84 1.12 0.56
(a) Calculated using average shares outstanding.
(b) 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.
10 AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
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Notes to Financial Statements
August 31, 2024
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 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
11 AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
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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. 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.
J. 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 Deutschland GmbH, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Inc., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and separate sub-advisory agreements with Invesco Capital Management LLC and Invesco Asset Management (India) Private Limited (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, 2024, to waive advisory fees equal to 0.07% of the average daily net assets of the Fund.
For the year ended August 31, 2024, the Adviser waived advisory fees and/or reimbursed Fund expenses in the following amounts:
Invesco Premier Portfolio $4,498,492
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 Mellon") 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 Mellon also serves as the Fund's custodian.
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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, 2024, 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. When significant events due to market movements occur, foreign securities may be fair valued utilizing an independent pricing service.
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, 2024, 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-Security Transactions with Affiliated Funds
The Fund is permitted to purchase securities from or sell securities to certain other affiliated funds under specified conditions outlined in procedures adopted by the Board of Trustees of the Trust. The procedures have been designed to ensure that any purchase or sale of securities by the Fund from or to another fund that is or could be considered an "affiliated person" by virtue of having a common investment adviser (or affiliated investment advisers), common Trustees and/or common officers is made in reliance on Rule 17a-7 of the 1940 Act and, to the extent applicable, related SEC staff positions. Each such transaction is effected at the security's "current market price", as provided for in these procedures and Rule 17a-7. Pursuant to these procedures, for the year ended August 31, 2024, the Fund engaged in securities purchases of $106,706,671 and securities sales of $6,911,178, which did not result in any net realized gains (losses).
NOTE 5-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 6-Cash Balances
The Fund is permitted to temporarily overdraft or leave balances in its account with BNY Mellon, 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 Mellon or the Fund for such activity, the Fund may either (1) pay to or receive from BNY Mellon compensation at a rate agreed upon by BNY Mellon 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 Mellon or the Fund can be compensated for use of funds.
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NOTE 7-Distributions to Shareholders and Tax Components of Net Assets
Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2024 and 2023:
2024 2023
Ordinary
Income* 		Ordinary
Income*
Invesco Premier Portfolio $346,325,123 $155,276,607
* Includes short-term capital gain distributions, if any.
Tax Components of Net Assets at Period-End:
Undistributed
Ordinary
Income 		Shares of
Beneficial
Interest 		Total
Net Assets
Invesco Premier Portfolio $125,115 $7,732,302,064 $7,732,427,179
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, 2024.
NOTE 8-Reclassification of Permanent Differences
Primarily as a result of differing book/tax treatment of distributions and equalization and equalization payment, on August 31, 2024, 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.
Undistributed Net
Investment Income 		Undistributed Net
Realized Gain (Loss) 		Shares of
Beneficial Interest
Invesco Premier Portfolio $19,548 $(19,547) $(1)
NOTE 9-Share Information
Invesco Premier Portfolio
Summary of Share Activity
Years ended August 31,
2024(a) 2023
Shares Amount Shares Amount
Sold:
Institutional Class 9,739,077,117 $9,739,077,117 6,728,848,110 $6,728,848,110
Investor Class 336,725,771 336,725,771 256,914,518 256,914,518
Personal Investment Class 24,100,174 24,100,174 24,193,923 24,193,923
Issued as reinvestment of dividends:
Institutional Class 299,321,339 299,321,339 124,770,193 124,770,193
Investor Class 8,507,286 8,507,286 3,726,275 3,726,275
Personal Investment Class 442,533 442,533 280,128 280,128
Private Investment Class 1,313 1,313 945 945
Reserve Class 494 494 343 343
Resource Class 35,168 35,168 55,926 55,926
Reacquired:
Institutional Class (7,247,550,439) (7,247,550,439) (3,821,330,281) (3,821,330,281)
Investor Class (351,230,155) (351,230,155) (145,177,267) (145,177,267)
Personal Investment Class (18,016,008) (18,016,008) (25,027,435) (25,027,435)
Resource Class - - (2,247,211) (2,247,211)
Net increase in share activity 2,791,414,593 $2,791,414,593 3,145,008,167 $3,145,008,167
(a) There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 56% 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.
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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, 2024, the related statement of operations for the year ended August 31, 2024, the statement of changes in net assets for each of the two years in the period ended August 31, 2024, including the related notes, and the financial highlights of the Reserve Class for each of the five years in the period ended August 31, 2024 (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, 2024, 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, 2024 and the financial highlights of the Reserve Class for each of the five years in the period ended August 31, 2024 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, 2024 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 23, 2024
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.
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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 12, 2024, 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 separate sub-advisory contracts with Invesco Capital Management LLC and Invesco Asset Management (India) Private Limited (collectively, the Affiliated Sub-Advisers and the sub-advisory contracts) for another year, effective July 1, 2024. 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.
The Board's Evaluation Process
The Board has established an Investments Committee, which in turn has established Sub-Committees, that meet throughout the year to review the performance of funds advised by Invesco Advisers (the Invesco Funds). The Sub-Committees meet regularly with portfolio managers for their assigned Invesco Funds and other members of management to review information about investment performance and portfolio attributes of these funds. The Board has established additional standing and ad hoc committees that meet regularly throughout the year to review matters within their purview, including a working group focused on opportunities to make ongoing and continuous improvements to the annual review process for the Invesco Funds' investment advisory 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, in considering whether to approve each Invesco Fund's investment advisory agreement and sub-advisory contracts.
As part of the contract renewal 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 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 mutual fund data provider, as well as information on the composition of the peer groups provided by Broadridge 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 contract renewal 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 7, 2024 and June 12, 2024, 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. Also, as part of the contract renewal process, the independent Trustees reviewed and considered information provided in response to follow-up requests for information submitted by the independent Trustees to management. The independent Trustees met and discussed those follow-up responses with legal counsel to the independent Trustees and the Senior Officer.
The discussion below is a summary of 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 in prior years 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. The information received and considered by the
Board was current as of various dates prior to the Board's approval on June 12, 2024.
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 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 observed that Invesco Advisers' systems preparedness and ongoing investment enabled Invesco Advisers 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 are appropriate and satisfactory.
INVESCO PREMIER PORTFOLIO
The Board reviewed the services that may be provided to the Fund by the Affiliated
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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 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 are appropriate and satisfactory.
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 are appropriate and satisfactory.
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, 2023 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 and the fifth quintile being the worst performing funds). The Board noted that performance of Investor Class shares of the Fund was reasonably comparable to 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, 2023 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 and the fifth quintile being the worst performing funds). The Board noted that performance of Investor Class shares of the Fund was reasonably comparable to 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 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 below 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 effective advisory fee rate (defined for this purpose as the advisory fee rate before the application of advisory fee waivers/expense limitations) to the effective advisory fee rates of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2023.
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 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 the same as the median contractual management and actual management fee rates of funds in its expense
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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 effective advisory fee rate (defined for this purpose as the advisory fee rate before the application of advisory fee waivers/expense limitations) to the effective advisory fee rates of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2023.
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
difficulty 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' 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.
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 determination that the services are required for the operation of each Fund.
18 AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
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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, 2024:
Federal and State Income Tax
Business Interest
Income* 		Qualified Business
Income* 		Qualified Dividend
Income* 		Corporate
Dividends
Received
Deduction* 		U.S Treasury
Obligations*
Invesco Premier Portfolio 99.99% 0.00% 0.00% 0.00% 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
Short-Term Gains 		Qualified
Interest Income**
Invesco Premier Portfolio $19,548 0.00%
** The above percentages are based on income dividends paid to shareholders during the Fund's fiscal year.
19 AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
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Other Information Required in Form N-CSR (Items 8-11)
Changes in and Disagreements with Accountants for Open-End Management Investment Companies
Not applicable.
Proxy Disclosures for Open-End Management Investment Companies
Not applicable.
Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies
The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.
Statement Regarding Basis for Approval of Investment Advisory Contracts
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.
20 AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
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SEC file numbers: 811-05460 and 033-19862 Invesco Distributors, Inc. CM-I-TST-NCSR-RSV


Annual Financial Statements and Other Information August 31, 2024
Resource Class
AIM Treasurer's Series Trust
(Invesco Treasurer's Series Trust)
Invesco Premier Portfolio
2 Schedule of Investments
7 Financial Statements
10 Financial Highlights
11 Notes to Financial Statements
15 Report of Independent Registered Public Accounting Firm
16 Approval of Investment Advisory and Sub-Advisory Contracts
19 Tax Information
20 Other Information Required in Form N-CSR (Items 8-11)
Table of Contents
Schedule of Investments
August 31, 2024
Invesco Premier Portfolio
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
Commercial Paper-44.22%(a)
Asset-Backed Securities - Consumer Receivables-0.44%
Old Line Funding LLC (CEP - Royal Bank of Canada)(b)(c) 5.00% 02/03/2025 $     10,000 $    9,789,889
Thunder Bay Funding LLC (CEP - Royal Bank of Canada)(b)(c) 5.76% 11/22/2024     25,000   24,689,653
34,479,542
Asset-Backed Securities - Fully Supported-8.25%
Anglesea Funding PLC (Multi - CEP's), (1 mo. OBFR + 0.14%)(b)(c)(d) 5.59% 11/21/2024     40,000   40,000,000
Anglesea Funding PLC (Multi - CEP's), (1 mo. OBFR + 0.14%)(b)(c)(d) 5.55% 12/03/2024     80,000   80,000,000
Aquitaine Funding Co. LLC (CEP - Societe Generale S.A.)(b)(c) 5.42% 11/01/2024     50,000   49,547,584
Bennington Stark Capital Co. LLC (CEP - Societe Generale S.A.), (SOFR + 0.20%)(b)(c)(d) 5.54% 10/28/2024     90,000   90,000,000
Great Bear Funding LLC (CEP - Bank of Nova Scotia), (1 mo. OBFR + 0.23%)(c)(d) 5.66% 01/15/2025     50,000   50,000,000
Great Bear Funding LLC (CEP - Bank of Nova Scotia), (1 mo. OBFR + 0.23%)(c)(d) 5.66% 01/15/2025     60,000   60,000,000
Great Bear Funding LLC (CEP - Bank of Nova Scotia), (1 mo. OBFR + 0.30%)(c)(d) 5.69% 03/28/2025     50,000   50,000,000
Longship Funding LLC (CEP - Nordea Bank AB)(b)(c) 5.34% 09/05/2024    100,000   99,940,778
Mountcliff Funding LLC (Multi - CEP's)(b)(c) 5.40% 10/23/2024     20,000   19,846,022
Mountcliff Funding LLC (Multi - CEP's)(b)(c) 5.38% 10/31/2024     50,000   49,557,500
Ridgefield Funding Co. LLC (CEP - BNP Paribas S.A.)(b)(c) 5.52% 11/14/2024     50,000   49,448,083
638,339,967
Asset-Backed Securities - Fully Supported Bank-3.72%
Cabot Trail Funding LLC (CEP - Toronto-Dominion Bank)(b)(c) 5.39% 12/20/2024     50,000   49,193,333
Collateralized Commercial Paper V Co. LLC (CEP - JPMorgan Securities LLC), (SOFR + 0.32%)(d) 5.72% 04/11/2025     50,000   50,000,000
Collateralized Commercial Paper V Co. LLC (CEP - JPMorgan Securities LLC), (SOFR + 0.32%)(d) 5.72% 04/17/2025     50,000   50,000,000
Collateralized Commercial Paper V Co. LLC (CEP - JPMorgan Securities LLC), (SOFR + 0.30%)(d) 5.69% 05/23/2025     15,000   15,000,000
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.48% 10/03/2024     41,225   41,027,853
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.41% 10/17/2024      5,336    5,299,523
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.42% 10/23/2024     14,700   14,586,402
LMA-Americas LLC (CEP - Credit Agricole Corporate & Investment Bank S.A.)(b)(c) 5.40% 10/25/2024     37,585   37,284,508
Mont Blanc Capital Corp. (CEP - ING Bank N.V.)(b)(c) 5.48% 09/17/2024     18,170   18,126,553
Sheffield Receivables Co. LLC (CEP - Barclays Bank PLC)(b) 5.40% 10/23/2024      7,000    6,946,108
287,464,280
Consumer Finance-0.64%
Toyota Finance Australia Ltd. (Australia)(c) 5.56% 10/15/2024     50,000   49,666,944
Diversified Banks-26.86%
Australia & New Zealand Banking Group Ltd. (Australia)(b)(c) 5.36% 09/18/2024     25,000   24,939,201
Australia & New Zealand Banking Group Ltd. (SOFR + 0.20%) (Australia)(b)(c)(d) 5.65% 10/30/2024     25,000   25,000,000
Australia & New Zealand Banking Group Ltd. (SOFR + 0.34%) (Australia)(b)(c)(d) 5.80% 01/08/2025     50,000   50,000,000
Australia & New Zealand Banking Group Ltd. (Australia)(b)(c) 5.41% 06/26/2025     50,000   47,876,750
Bank of Montreal (Canada)(c) 5.50% 06/11/2025     25,000   23,976,090
Bank of Montreal (SOFR + 0.35%) (Canada)(c)(d) 5.76% 06/25/2025     75,000   75,000,000
Barclays Bank PLC (SOFR + 0.25%)(b)(c)(d) 5.58% 10/11/2024     50,000   50,000,000
Barclays Bank PLC(b)(c) 5.40% 10/23/2024      4,500    4,465,355
Barclays Bank PLC (SOFR + 0.25%)(b)(c)(d) 5.71% 11/19/2024     50,000   50,000,000
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)
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Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
Diversified Banks-(continued)
Barclays Bank PLC(b)(c) 5.08% 01/02/2025 $     30,000 $   29,489,550
Barclays Bank PLC (SOFR + 0.21%)(b)(c)(d) 5.65% 01/15/2025     50,000   50,000,000
Barclays Bank PLC(b)(c) 5.08% 02/04/2025     45,000   44,034,750
Canadian Imperial Bank of Commerce (Canada)(b)(c) 5.34% 09/03/2024    100,000   99,970,389
Citigroup Global Markets, Inc.(b) 5.55%-5.56% 01/23/2025    100,000   97,868,000
Citigroup Global Markets, Inc.(b) 5.63% 04/30/2025     50,000   48,215,931
Commonwealth Bank of Australia (SOFR + 0.55%) (Australia)(b)(c)(d) 5.98% 10/10/2024     45,000   45,000,000
Commonwealth Bank of Australia (Australia)(b)(c) 5.95% 10/16/2024     50,000   49,648,750
Commonwealth Bank of Australia (SOFR + 0.35%) (Australia)(b)(c)(d) 5.72% 01/03/2025    100,000  100,000,000
Dexia S.A.(b)(c) 5.34% 10/01/2024     85,000   84,624,583
DNB Bank ASA (Norway)(b)(c) 5.94% 09/18/2024     45,000   44,881,000
DNB Bank ASA (Norway)(b)(c) 5.25% 09/24/2024     26,700   26,613,855
DNB Bank ASA (Norway)(b)(c) 5.97% 10/01/2024     50,000   49,765,417
DNB Bank ASA (Norway)(b)(c) 5.46% 11/22/2024     73,500   72,610,180
ING (US) Funding LLC (SOFR + 0.30%)(b)(c)(d) 5.68% 02/10/2025     35,000   34,998,948
ING (US) Funding LLC(b)(c) 5.21% 04/17/2025     50,000   48,413,500
National Australia Bank Ltd. (SOFR + 0.25%) (Australia)(b)(c)(d) 5.63% 03/17/2025     50,000   49,999,897
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.18%) (Singapore)(b)(c)(d) 5.61% 12/04/2024     40,000   39,998,932
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.21%) (Singapore)(b)(c)(d) 5.66% 01/10/2025     50,000   50,000,000
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.65% 01/14/2025     55,000   55,000,000
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.65% 02/18/2025     27,000   26,999,947
Royal Bank of Canada (SOFR + 0.55%) (Canada)(b)(c)(d) 6.02% 09/23/2024    100,000  100,000,000
Royal Bank of Canada (SOFR + 0.35%) (Canada)(b)(c)(d) 5.76% 07/29/2025     25,000   25,000,000
Svenska Handelsbanken AB (SOFR + 0.21%) (Sweden)(b)(c)(d) 5.67% 01/03/2025     35,000   34,999,962
Svenska Handelsbanken AB (SOFR + 0.21%) (Sweden)(b)(c)(d) 5.68% 02/24/2025     74,000   74,000,000
Toronto-Dominion Bank (The) (Canada)(b)(c) 5.19% 12/02/2024     50,000   49,367,500
United Overseas Bank Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.66% 01/22/2025     50,000   50,000,000
United Overseas Bank Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.64% 01/23/2025     50,000   50,000,000
United Overseas Bank Ltd. (SOFR + 0.20%) (Singapore)(b)(c)(d) 5.66% 02/20/2025     60,000   60,000,000
Westpac Banking Corp. (Australia)(b)(c) 5.93% 09/05/2024     30,000   29,981,333
Westpac Banking Corp. (Australia)(b)(c) 5.41% 09/11/2024      3,950    3,944,295
Westpac Banking Corp. (SOFR + 0.55%) (Australia)(b)(c)(d) 5.98% 10/08/2024    100,000  100,000,000
2,076,684,115
Diversified Capital Markets-3.34%
BofA Securities, Inc. (SOFR + 0.49%)(d) 5.97% 11/29/2024     25,000   25,000,000
BofA Securities, Inc. (SOFR + 0.40%)(d) 5.83% 08/22/2025     25,000   25,000,000
UBS AG(b)(c) 5.41% 10/02/2024     30,000   29,865,666
UBS AG (SOFR + 0.25%)(b)(c)(d) 5.71% 11/22/2024     30,000   30,000,000
UBS AG(b)(c) 5.50% 02/18/2025     75,000   73,130,000
UBS AG (SOFR + 0.31%)(b)(c)(d) 5.77% 02/24/2025     75,000   75,000,000
257,995,666
Specialized Finance-0.97%
Caisse d'Amortissement de la Dette Sociale (France)(b)(c) 5.41% 09/23/2024     50,000   49,837,750
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)
Table of Contents
Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Principal
Amount
(000) 		Value
Specialized Finance-(continued)
CDP Financial, Inc. (SOFR + 0.34%) (Canada)(b)(c)(d) 5.80% 01/09/2025 $     25,000 $   25,000,000
74,837,750
Total Commercial Paper (Cost $3,419,468,264) 3,419,468,264
Certificates of Deposit-19.28%
Australia & New Zealand Banking Group Ltd.(c) 5.32% 09/03/2024    100,000  100,000,000
Bank of America N.A. (SOFR + 0.35%)(d) 5.69% 01/07/2025     50,000   50,000,000
Bank of America N.A. 5.50% 05/23/2025     80,000   80,000,000
Bank of America N.A. (SOFR + 0.38%)(d) 5.71% 07/03/2025     50,000   50,000,000
Cooperatieve Rabobank U.A.(c) 5.31% 09/03/2024    150,000  150,000,000
Cooperatieve Rabobank U.A.(c) 5.56% 12/04/2024     22,000   22,003,218
Credit Agricole Corporate & Investment Bank(c) 5.31% 09/03/2024    250,000  250,000,000
DZ Bank AG(c) 5.15% 04/29/2025     50,000   50,021,544
Korea Development Bank (The) (SOFR + 0.27%) (South Korea)(c)(d) 5.60% 03/13/2025     20,000   20,000,998
Mizuho Bank Ltd.(c) 5.32% 09/03/2024    245,000  245,000,000
Oversea-Chinese Banking Corp. Ltd. (SOFR + 0.21%) (Singapore)(c)(d) 5.54% 01/03/2025     40,000   40,000,000
Royal Bank of Canada(c) 5.93% 09/16/2024     25,000   25,000,000
Sumitomo Mitsui Trust Bank Ltd.(c) 5.31% 09/03/2024    150,000  150,000,000
Svenska Handelsbanken AB(c) 5.31% 09/03/2024     75,000   75,000,000
Svenska Handelsbanken AB (SOFR + 0.25%) (Sweden)(c)(d) 5.58% 02/28/2025     30,000   29,999,934
Swedbank AB(c) 5.39% 12/02/2024     50,000   50,000,000
Toronto-Dominion Bank (The)(c) 6.00% 09/09/2024     30,000   30,000,000
Toronto-Dominion Bank (The)(c) 6.00% 09/20/2024      8,719    8,720,164
Toronto-Dominion Bank (The)(c) 5.42% 04/08/2025     20,000   20,000,000
Toronto-Dominion Bank (The)(c) 5.48% 05/21/2025     20,000   20,000,000
Toronto-Dominion Bank (The)(c) 5.07% 07/25/2025     25,000   25,000,000
Total Certificates of Deposit (Cost $1,490,745,858) 1,490,745,858
Variable Rate Demand Notes-2.16%(e)
Credit Enhanced-2.16%
Altoona-Blair County Development Corp.; Series 2015, VRD Bonds (LOC - PNC Bank, N.A.)(b)(f) 5.39% 09/11/2024     17,850   17,850,000
Board of Regents of the University of Texas System; Subseries 2016 G-1, VRD RB 5.30% 08/01/2045     90,240   90,240,000
Jets Stadium Development LLC; Series 2014 A-4B, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)(b)(c)(f) 5.92% 09/11/2024     12,700   12,700,000
Jets Stadium Development LLC; Series 2014 A-4C, VRD Bonds (LOC - Sumitomo Mitsui Banking Corp.)(b)(c)(f) 5.92% 09/11/2024     27,700   27,700,000
Keep Memory Alive; Series 2013, VRD Bonds (LOC - PNC Bank, N.A.)(f) 5.38% 09/12/2024     14,060   14,060,000
Ziegler Realty LLC; Series 2007, VRD Notes (LOC - Wells Fargo Bank, N.A.)(b)(f) 5.36% 01/01/2033      4,100    4,100,000
Total Variable Rate Demand Notes (Cost $166,650,000) 166,650,000
U.S. Dollar Denominated Bonds & Notes-0.15%
Diversified Banks-0.15%
Royal Bank of Canada (Canada)(c)(Cost $11,784,339) 4.95% 04/25/2025     11,812   11,784,339
TOTAL INVESTMENTS IN SECURITIES (excluding Repurchase Agreements)-65.81%
(Cost $5,088,648,461) 		5,088,648,461
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)
Table of Contents
Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Repurchase
Amount 		Value
Repurchase Agreements-34.30%(g)
BMO Capital Markets Corp., joint term agreement dated 08/28/2024, aggregate maturing value of $125,132,465 (collateralized by agency and non-agency asset-backed securities, agency and non-agency mortgage-backed securities, corporate obligations, U.S. government sponsored agency obligations, U.S. Treasury obligations valued at $134,989,623; 0.00% - 12.96%; 10/25/2024 - 06/20/2074)(c)(h) 5.45% 09/04/2024 $ 60,063,583 $   60,000,000
BMO Capital Markets Corp., joint term agreement dated 08/28/2024, aggregate maturing value of $475,500,597 (collateralized by agency and non-agency asset-backed securities, agency and non-agency mortgage-backed securities, corporate obligations, U.S. government sponsored agency obligations, U.S. Treasury obligations valued at $493,050,532; 0.00% - 9.91%; 09/10/2024 - 06/20/2074)(c)(h) 5.42% 09/04/2024 120,126,467  120,000,000
BNP Paribas Securities Corp., term agreement dated 08/27/2024, maturing value of $20,021,000 (collateralized by agency mortgage-backed securities, corporate obligations and a non-agency asset-backed security valued at $20,943,618; 2.29% - 5.95%; 06/06/2025 - 04/05/2054)(c)(h) 5.40% 09/03/2024  20,021,000   20,000,000
BNP Paribas Securities Corp., term agreement dated 08/28/2024, maturing value of $110,115,500 (collateralized by non-agency asset-backed securities, agency and non-agency mortgage-backed securities and corporate obligations valued at $114,513,083; 0.33% - 9.95%; 08/15/2025 - 06/25/2069)(c)(h) 5.40% 09/04/2024 110,115,500  110,000,000
BNP Paribas Securities Corp., term agreement dated 08/28/2024, maturing value of $140,148,633 (collateralized by non-agency asset-backed securities and non-agency mortgage-backed securities valued at $154,019,189; 4.71% - 15.49%; 12/21/2026 - 05/25/2065)(c)(h) 5.46% 09/04/2024 140,148,633  140,000,000
Credit Agricole Corporate & Investment Bank, joint open agreement dated 07/17/2024 (collateralized by commercial paper, corporate obligations, non-agency asset-backed securities, non-agency mortgage-backed securities and a U.S. Treasury obligation valued at $157,096,330; 0.00% - 11.00%; 09/24/2024 - 05/24/2061)(c)(i) 5.45% 09/03/2024  30,149,500   30,000,000
ING Financial Markets, LLC, joint agreement dated 08/30/2024, aggregate maturing value of $450,269,500 (collateralized by equity securities valued at $472,500,054; 0.00%)(c) 5.39% 09/03/2024 120,071,867  120,000,000
J.P. Morgan Securities LLC, open agreement dated 07/17/2024 (collateralized by commercial paper, corporate obligations and non-agency asset-backed securities valued at $184,631,041; 0.00% - 9.50%; 10/03/2024 - 11/30/2063)(i) 5.62% 09/03/2024 175,901,931  175,000,000
Mizuho Securities (USA) LLC, joint open agreement dated 06/20/2024 (collateralized by equity securities valued at $294,000,033; 0.00%)(c)(i) 5.47% 09/03/2024 140,085,089  140,000,000
RBC Capital Markets LLC, joint term agreement dated 08/27/2024, aggregate maturing value of $150,160,417 (collateralized by agency mortgage-backed securities, commercial paper, corporate obligations and a non-agency mortgage-backed security valued at $164,938,678; 0.00% - 14.00%; 09/20/2024 - 01/15/2077)(c)(h) 5.50% 09/03/2024  30,032,083   30,000,000
Societe Generale, open agreement dated 07/17/2024 (collateralized by commercial paper, corporate obligations, non-agency asset-backed securities and non-agency mortgage-backed securities valued at $86,940,244; 2.50% - 11.00%; 10/01/2024 - 10/15/2048)(c)(i) 5.50% 09/03/2024  80,048,889   80,000,000
Standard Chartered Bank, joint agreement dated 08/30/2024, aggregate maturing value of $2,001,180,000 (collateralized by U.S. Treasury obligations valued at $2,041,203,675; 0.00% - 6.25%; 09/05/2024 - 08/15/2054) 5.31% 09/03/2024 655,794,443  655,407,752
Sumitomo Mitsui Banking Corp., joint agreement dated 08/30/2024, aggregate maturing value of $5,002,961,111 (collateralized by agency mortgage-backed securities valued at $5,138,746,291; 3.00% - 6.50%; 10/20/2042 - 06/20/2054) 5.33% 09/03/2024 862,353,810  861,843,407
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
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Schedule of Investments-(continued)
August 31, 2024
Invesco Premier Portfolio-(continued)
Interest
Rate 		Maturity
Date 		Repurchase
Amount 		Value
TD Securities (USA) LLC, joint term agreement dated 08/28/2024, aggregate maturing value of $450,473,375 (collateralized by corporate obligations valued at $472,508,170; 2.00% - 7.34%; 01/16/2025 - 06/15/2051)(c)(h) 5.41% 09/04/2024 $110,115,714 $  110,000,000
Total Repurchase Agreements (Cost $2,652,251,159) 2,652,251,159
TOTAL INVESTMENTS IN SECURITIES(j)(k)-100.11% (Cost $7,740,899,620) 7,740,899,620
OTHER ASSETS LESS LIABILITIES-(0.11)% (8,472,441)
NET ASSETS-100.00% $7,732,427,179
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
Notes to Schedule of Investments:
(a) Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.
(b) 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, 2024 was $3,008,175,230, which represented 38.90% of the Fund's Net Assets.
(c) 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: 16.3%; France: 13.4%; Australia: 8.1%; Japan: 7.6%; Netherlands: 5.1%; other countries less than 5% each:19.7%.
(d) Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on August 31, 2024.
(e) 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, 2024.
(f) Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.
(g) Principal amount equals value at period end. See Note 1I.
(h) The Fund may demand payment of the term repurchase agreement upon one to seven business days' notice depending on the timing of the demand.
(i) 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.
(j) Also represents cost for federal income tax purposes.
(k) 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.
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Statement of Assets and Liabilities
August 31, 2024
Invesco Premier
Portfolio
Assets:
Investments in unaffiliated securities, at value $5,088,648,461
Repurchase agreements, at value and cost 2,652,251,159
Cash 12,222
Receivable for:
Fund shares sold 12,798,161
Interest 20,815,172
Investment for trustee deferred compensation and retirement plans 684,604
Total assets 7,775,209,779
Liabilities:
Payable for:
Fund shares reacquired 7,111,595
Dividends 33,815,706
Accrued fees to affiliates 1,167,726
Accrued operating expenses 2,969
Trustee deferred compensation and retirement plans 684,604
Total liabilities 42,782,600
Net assets applicable to shares outstanding $7,732,427,179
Net assets consist of:
Shares of beneficial interest $7,732,302,064
Distributable earnings (loss) 125,115
$7,732,427,179
Net Assets:
Institutional Class $7,565,591,241
Investor Class $152,476,697
Personal Investment Class $13,631,836
Private Investment Class $26,439
Reserve Class $11,135
Resource Class $689,831
Shares outstanding, no par value,
unlimited number of shares authorized:
Institutional Class 7,565,156,713
Investor Class 152,459,345
Personal Investment Class 13,631,219
Private Investment Class 26,436
Reserve Class 11,134
Resource Class 689,753
Net asset value, offering and redemption price per share for each class $1.00
Cost of Investments $7,740,899,620
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
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Statement of Operations
For the year ended August 31, 2024
Invesco Premier
Portfolio
Investment income:
Interest $357,952,683
Expenses:
Advisory fees 16,066,050
Distribution fees:
Personal Investment Class 53,321
Private Investment Class 77
Reserve Class 95
Resource Class 1,078
Professional services fees 5,431
Total expenses 16,126,052
Less: Fees waived (4,498,492)
Net expenses 11,627,560
Net investment income 346,325,123
Net realized gain from unaffiliated investment securities 20,533
Net increase in net assets resulting from operations $346,345,656
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
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Statement of Changes in Net Assets
For the years ended August 31, 2024 and 2023
Invesco Premier Portfolio
2024 2023
Operations:
Net investment income $346,325,123 $155,276,607
Net realized gain (loss) 20,533 (985)
Net increase in net assets resulting from operations 346,345,656 155,275,622
Distributions to shareholders from distributable earnings:
Institutional Class (337,282,614) (150,314,419)
Investor Class (8,535,442) (4,607,779)
Personal Investment Class (469,960) (297,098)
Private Investment Class (1,317) (1,014)
Reserve Class (494) (371)
Resource Class (35,296) (55,926)
Total distributions from distributable earnings (346,325,123) (155,276,607)
Share transactions-net:
Institutional Class 2,790,848,017 3,032,288,022
Investor Class (5,997,098) 115,463,526
Personal Investment Class 6,526,699 (553,384)
Private Investment Class 1,313 945
Reserve Class 494 343
Resource Class 35,168 (2,191,285)
Net increase in net assets resulting from share transactions 2,791,414,593 3,145,008,167
Net increase in net assets 2,791,435,126 3,145,007,182
Net assets:
Beginning of year 4,940,992,053 1,795,984,871
End of year $7,732,427,179 $4,940,992,053
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
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Financial Highlights
The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.
Resource Class
Net asset
value,
beginning
of period 		Net
investment
income(a) 		Net gains
on securities
(realized) 		Total from
investment
operations 		Dividends
from net
investment
income 		Net asset
value, end
of period 		Total
return(b) 		Net assets,
end of period
(000's omitted) 		Ratio of
expenses
to average
net assets
with fee waivers
and/or expense
reimbursements 		Ratio of
expenses
to average net
assets without
fee waivers
and/or expense
reimbursements 		Ratio of net
investment
income
to average
net assets
Invesco Premier Portfolio
Year ended 08/31/24 $1.00 $0.05 $0.00 $0.05 $(0.05) $1.00 5.37% $690 0.34% 0.41% 5.23%
Year ended 08/31/23 1.00 0.04 (0.00) 0.04 (0.04) 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) 1.00 0.44 2,847 0.25 0.41 0.54
Year ended 08/31/21 1.00 0.00 0.00 0.00 (0.00) 1.00 0.01 3,181 0.23 0.41 0.02
Year ended 08/31/20 1.00 0.01 0.00 0.01 (0.01) 1.00 1.05 3,230 0.34 0.41 1.06
(a) Calculated using average shares outstanding.
(b) 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.
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Notes to Financial Statements
August 31, 2024
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 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
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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. 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.
J. 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 Deutschland GmbH, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Inc., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and separate sub-advisory agreements with Invesco Capital Management LLC and Invesco Asset Management (India) Private Limited (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, 2024, to waive advisory fees equal to 0.07% of the average daily net assets of the Fund.
For the year ended August 31, 2024, the Adviser waived advisory fees and/or reimbursed Fund expenses in the following amounts:
Invesco Premier Portfolio $4,498,492
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 Mellon") 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 Mellon also serves as the Fund's custodian.
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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, 2024, 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. When significant events due to market movements occur, foreign securities may be fair valued utilizing an independent pricing service.
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, 2024, 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-Security Transactions with Affiliated Funds
The Fund is permitted to purchase securities from or sell securities to certain other affiliated funds under specified conditions outlined in procedures adopted by the Board of Trustees of the Trust. The procedures have been designed to ensure that any purchase or sale of securities by the Fund from or to another fund that is or could be considered an "affiliated person" by virtue of having a common investment adviser (or affiliated investment advisers), common Trustees and/or common officers is made in reliance on Rule 17a-7 of the 1940 Act and, to the extent applicable, related SEC staff positions. Each such transaction is effected at the security's "current market price", as provided for in these procedures and Rule 17a-7. Pursuant to these procedures, for the year ended August 31, 2024, the Fund engaged in securities purchases of $106,706,671 and securities sales of $6,911,178, which did not result in any net realized gains (losses).
NOTE 5-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 6-Cash Balances
The Fund is permitted to temporarily overdraft or leave balances in its account with BNY Mellon, 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 Mellon or the Fund for such activity, the Fund may either (1) pay to or receive from BNY Mellon compensation at a rate agreed upon by BNY Mellon 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 Mellon or the Fund can be compensated for use of funds.
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NOTE 7-Distributions to Shareholders and Tax Components of Net Assets
Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended August 31, 2024 and 2023:
2024 2023
Ordinary
Income* 		Ordinary
Income*
Invesco Premier Portfolio $346,325,123 $155,276,607
* Includes short-term capital gain distributions, if any.
Tax Components of Net Assets at Period-End:
Undistributed
Ordinary
Income 		Shares of
Beneficial
Interest 		Total
Net Assets
Invesco Premier Portfolio $125,115 $7,732,302,064 $7,732,427,179
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, 2024.
NOTE 8-Reclassification of Permanent Differences
Primarily as a result of differing book/tax treatment of distributions and equalization and equalization payment, on August 31, 2024, 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.
Undistributed Net
Investment Income 		Undistributed Net
Realized Gain (Loss) 		Shares of
Beneficial Interest
Invesco Premier Portfolio $19,548 $(19,547) $(1)
NOTE 9-Share Information
Invesco Premier Portfolio
Summary of Share Activity
Years ended August 31,
2024(a) 2023
Shares Amount Shares Amount
Sold:
Institutional Class 9,739,077,117 $9,739,077,117 6,728,848,110 $6,728,848,110
Investor Class 336,725,771 336,725,771 256,914,518 256,914,518
Personal Investment Class 24,100,174 24,100,174 24,193,923 24,193,923
Issued as reinvestment of dividends:
Institutional Class 299,321,339 299,321,339 124,770,193 124,770,193
Investor Class 8,507,286 8,507,286 3,726,275 3,726,275
Personal Investment Class 442,533 442,533 280,128 280,128
Private Investment Class 1,313 1,313 945 945
Reserve Class 494 494 343 343
Resource Class 35,168 35,168 55,926 55,926
Reacquired:
Institutional Class (7,247,550,439) (7,247,550,439) (3,821,330,281) (3,821,330,281)
Investor Class (351,230,155) (351,230,155) (145,177,267) (145,177,267)
Personal Investment Class (18,016,008) (18,016,008) (25,027,435) (25,027,435)
Resource Class - - (2,247,211) (2,247,211)
Net increase in share activity 2,791,414,593 $2,791,414,593 3,145,008,167 $3,145,008,167
(a) There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 56% 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.
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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, 2024, the related statement of operations for the year ended August 31, 2024, the statement of changes in net assets for each of the two years in the period ended August 31, 2024, including the related notes, and the financial highlights of the Resource Class for each of the five years in the period ended August 31, 2024 (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, 2024, 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, 2024 and the financial highlights of the Resource Class for each of the five years in the period ended August 31, 2024 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, 2024 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 23, 2024
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.
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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 12, 2024, 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 separate sub-advisory contracts with Invesco Capital Management LLC and Invesco Asset Management (India) Private Limited (collectively, the Affiliated Sub-Advisers and the sub-advisory contracts) for another year, effective July 1, 2024. 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.
The Board's Evaluation Process
The Board has established an Investments Committee, which in turn has established Sub-Committees, that meet throughout the year to review the performance of funds advised by Invesco Advisers (the Invesco Funds). The Sub-Committees meet regularly with portfolio managers for their assigned Invesco Funds and other members of management to review information about investment performance and portfolio attributes of these funds. The Board has established additional standing and ad hoc committees that meet regularly throughout the year to review matters within their purview, including a working group focused on opportunities to make ongoing and continuous improvements to the annual review process for the Invesco Funds' investment advisory 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, in considering whether to approve each Invesco Fund's investment advisory agreement and sub-advisory contracts.
As part of the contract renewal 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 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 mutual fund data provider, as well as information on the composition of the peer groups provided by Broadridge 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 contract renewal 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 7, 2024 and June 12, 2024, 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. Also, as part of the contract renewal process, the independent Trustees reviewed and considered information provided in response to follow-up requests for information submitted by the independent Trustees to management. The independent Trustees met and discussed those follow-up responses with legal counsel to the independent Trustees and the Senior Officer.
The discussion below is a summary of 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 in prior years 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. The information received and considered by the
Board was current as of various dates prior to the Board's approval on June 12, 2024.
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 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 observed that Invesco Advisers' systems preparedness and ongoing investment enabled Invesco Advisers 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 are appropriate and satisfactory.
INVESCO PREMIER PORTFOLIO
The Board reviewed the services that may be provided to the Fund by the Affiliated
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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 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 are appropriate and satisfactory.
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 are appropriate and satisfactory.
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, 2023 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 and the fifth quintile being the worst performing funds). The Board noted that performance of Investor Class shares of the Fund was reasonably comparable to 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, 2023 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 and the fifth quintile being the worst performing funds). The Board noted that performance of Investor Class shares of the Fund was reasonably comparable to 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 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 below 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 effective advisory fee rate (defined for this purpose as the advisory fee rate before the application of advisory fee waivers/expense limitations) to the effective advisory fee rates of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2023.
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 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 the same as the median contractual management and actual management fee rates of funds in its expense
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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 effective advisory fee rate (defined for this purpose as the advisory fee rate before the application of advisory fee waivers/expense limitations) to the effective advisory fee rates of other similarly managed mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2023.
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
difficulty 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' 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.
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 determination that the services are required for the operation of each Fund.
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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, 2024:
Federal and State Income Tax
Business Interest
Income* 		Qualified Business
Income* 		Qualified Dividend
Income* 		Corporate
Dividends
Received
Deduction* 		U.S Treasury
Obligations*
Invesco Premier Portfolio 99.99% 0.00% 0.00% 0.00% 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
Short-Term Gains 		Qualified
Interest Income**
Invesco Premier Portfolio $19,548 0.00%
** The above percentages are based on income dividends paid to shareholders during the Fund's fiscal year.
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Other Information Required in Form N-CSR (Items 8-11)
Changes in and Disagreements with Accountants for Open-End Management Investment Companies
Not applicable.
Proxy Disclosures for Open-End Management Investment Companies
Not applicable.
Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies
The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.
Statement Regarding Basis for Approval of Investment Advisory Contracts
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.
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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 Activity for Closed-End Management Investment Companies.

Not applicable.


Item 18. Recovery of Erroneously Awarded Compensation.

Not applicable.


Item 19. Exhibits.

19(a)(1) Code of ethics.

19(a)(2) Not applicable.

19(a)(3) Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940 and Section 302 of the Sarbanes-Oxley Act of 2002.

19(a)(4) Not applicable.

19(a)(5) Not applicable.

19(b) Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(b) under the Investment Company Act of 1940 and Section 906 of the Sarbanes-Oxley Act of 2002.


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

By:

/s/ Glenn Brightman

Glenn Brightman

Principal Executive Officer

Date:

November 6, 2024

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

By:

/s/ Glenn Brightman

Glenn Brightman

Principal Executive Officer

Date:

November 6, 2024

By:

/s/ Adrien Deberghes

Adrien Deberghes

Principal Financial Officer

Date:

November 6, 2024